a HeritageWest publication • spring 2012
Refinancing Your Auto Loan
Most people have probably heard about the benefits of
refinancing a loan on their home. With today’s low rates,
a mortgage loan refinance could considerably lower
your monthly payments and take some stress out of
But did you know you could also lower your car
payments by refinancing your auto loan much like
you can by refinancing a mortgage loan?
The nice thing about an auto refinance is that the process is much simpler.
Home refinancing generally requires a lot of paperwork along with an
appraisal or inspection which in turn makes it more complex.
Most auto loan refinance applications take less time than picking up an
• Marketing Promotions order at a fast food drive-thru. Once the transaction is complete, the new
• Facebook First Friday lender pays off the old loan and then receives the car’s title.
With historically low interest rates, this is a great way to trim your
• New and Improved
Banking Services monthly budget. The exact savings will depend on the remaining balance
of the existing loan, the difference between the old interest rate and the
• Change in Terms Notice
new, and the term of the new loan. An auto refinance typically results in
• Family and Friends Bike Ride at least hundreds of dollars saved.
Find out if an auto refinance is right for you by comparing your car’s loan
rate with our current rates. HeritageWest is proud to offer some of the
lowest rates in the market. If you bought your car on a short term loan
and suddenly your monthly budget mushrooms, an auto refinance might
be a good option. Or, if you’ve leased your car and are thinking about
buying it, consider an auto refinance.
Any of our loan experts would be happy to help see how much you can
save. Just call or stop by one of our branches for more information.
When talking about Spring, Robin Williams once said directly. So if you want to see who wins, be sure to “like” our
“Spring is nature’s way of saying, ‘Let’s party!’” What an Facebook page.
appropriate way to celebrate the season when things come
to life. And that same attitude is contagious here, too. National Credit Union Youth Week. In addition to the
Take a look at some of the fun promotions we have going on two-month long youth celebration, we also plan to join with
this spring. other credit unions around the country to celebrate our
wonderful youth members April 22-28. Specifically during
Young Saver Superheroes. We have probably all heard “the this week, our branches will have additional activities
youth of today are the leaders of tomorrow.” And what better and contests designed just for youth members. Be sure to
way to be prepared for the future than by learning how to stop by any of our branches during this week to check out
manage your money while you are still young? Through all the festivities.
March and April, we will put the first $5 in all new youth
accounts opened* (0-17 years old). And don’t forget about
special youth certificates with a minimum of $100 to open
that are available at any time.
Help your young superheroes learn about the benefits of
saving money and spending wisely. Whether a teen with
a car or an eight-year-old with an allowance, our financial
experts can help review options that are appropriate for your
young saver superheroes.
Member Appreciation Month. Our youth aren’t the only
superheroes around. We feel that all of our members are
superheroes. That is why we will celebrate our incredible
members throughout the month of April. Every weekday in
April we will give away $100 to one of our members.* That
means there is a total of $2,100 to give away and 21 chances
to win. Plus, each of our daily winners will be entered to
win a cruise valued at up to $5,000!
And it’s easy to qualify. If you’re a member, you’re eligible.
The more products you have with the credit union, the
more chances you have to win. The daily winners will *Some restrictions apply. Visit our website or talk to a member
be announced on our Facebook page as well as contacted service representative for complete details.
Facebook First Friday Giveaways
Have you joined us on Facebook? If not, now is a great time Then be sure to check the first Friday of the month to see
to “like” our page. what we are giving away that day.
Beginning in April, we will be giving away free stuff on And this isn’t the only time we will be giving stuff away,
Facebook the first Friday of each month. From t-shirts and just the only scheduled time. Check back often for other
HeritageWest “swag” to gift cards and event tickets, you can giveaways, credit union announcements, marketing
win all kinds of free stuff. promotions, industry news, and useful articles to help save
you some time and money.
It only takes a few seconds to make sure you don’t miss out.
Simply go to www.facebook.com/HeritageWest to “like” us.
New and Improved Banking Services Change in Terms Notice
We are excited to announce that later this summer we As part of our efforts to enhance our system and processes,
will be launching new and improved banking services! please note that the following modifications will apply to
member accounts, effective July 1, 2012.
On Monday, July 2, 2012, we will introduce an enhanced
system, as well as new online banking and bill payment Balance Computation Method
services. While much of this update will be behind the We use the average daily balance method to calculate
scenes, there will be several new features along with an dividends and obtain the APY on accounts. The average
updated look to some of the services we provide. daily balance method applies a periodic rate to the
average daily balance in your account for the dividend
Online Banking period. The average daily balance is calculated by adding
In addition to many of the features you already enjoy, the balance in the account each day during the dividend
you will be able to view your balances at-a-glance, period and dividing that figure by the number of days in
the dividend period.
establish alerts from the home page, and customize your
Dividend Compounding and Crediting
Mobile Banking Apps Share Accounts, Share Certificate Accounts and IRA
You will be able to access expanded features on both Accounts dividends are compounded and credited
quarterly. Money Market and Checking Accounts are
Android and Apple devices.
compounded and credited monthly.
Share Certificate Programs
Certificate Specials & Flex Certificates
Our new flex term share certificates allow you to choose
your own term. Certificate Specials and Flex Certificates will automatically
renew at the lower standard certificate term for the rate
Payment and Deposit Processing in effect on the renewal date, unless the owner(s) notifies
the credit union otherwise on or before the maturity date.
Submit all of your payments and deposits to one
Account Deactivation / Reactivation
Member Statements In the event of certain account misuse, the credit union may
One of the new features that HeritageWest members deactivate your account. Account misuse may be a result of:
will enjoy is a new statement format that is easier to read • A negative balance that is over the allowed Account
and easier to manage. The new format will have an “At- Protection Program limit. Account is suspended and
A-Glance” summary section of all accounts allowing may be reactivated at the discretion of the credit union
members a quick snapshot of account balances. Our and may be subject to the reactivation fee.
new simplified design includes features such as a three-
• Delinquent Accounts (31 days) - Account Protection
hole punch for easy filing and larger fonts for increased
coverage ($500 limit) is suspended and may be
visibility. Members will receive their April statement
reactivated at the discretion of the credit union.
with the new features and design.
• Delinquent Accounts (61 days) - The account (card) is
Look for more details in the coming months on our subject to deactivation and may be reactivated at the
website and other communication outlets. discretion of the credit union and may be subject to an
account reactivation fee.
• The fee for this is $25.00.
April 22-28: Youth Week
May 28: Memorial Day - Branches Closed
July 2: New System Update
July 4: Independence Day - Branches Closed
Family and Friends Bike Ride
With spring in the air and sunshine in the sky, it is time Date: Saturday, May 12, 2012
again to plan for our annual charitable bike ride. On Location: Settlement Canyon Dam, Tooele (near toll booth)
Saturday, May 12, we hope you will be able to join us for our
3rd Annual HeritageWest Family & Friends Bike Tour. Safety Review: 7:45 am
Start Time: 8:00 am
The casual 33-mile route through Tooele Valley is designed
to accommodate all levels of riders with little uphill riding. Finish: Stansbury Park Branch
This isn’t a competitive race; rather, this is a fun ride to
So whether you are a seasoned pro looking for a nice warm
support a great cause and promote a healthy lifestyle. The
up or haven’t ridden a bike for years, everyone is invited
money raised from this event will go directly to the We
to join us. Please come enjoy a fun ride with friends while
Promise Foundation® to help children who are battling
helping to make a difference in a child’s life. For more
tremendous hardships and life-threatening illnesses. For
information including registration form and route notes,
more information about our charitable arm, please visit
visit www.HeritageWestCU.com and click on the Bike Tour
link at the bottom of the page.
Anyone who wants to participate is asked to donate/raise at
least $25. Participants who register by April 20 will also be
guaranteed a free shirt.
During the ride, there will be rest stops at the 11th and 22nd
miles at our North Tooele and Grantsville branches. We will
also have SAG Wagons available throughout the ride to help
provide any supplies, drinks and even a little boost to the
finish if needed.
Branch Locations Lobby Hours
TOOELE 562 N. Main Monday-Friday 9:00am-5:30pm
STANSBURY PARK 200 Millpond Saturday 9:00am-1:00pm
430 E. Main
NORTH TOOELE 88 E. 1000 North Drive-up Hours
SOUTH JORDAN 3557 W. 9800 South Monday-Friday 9:00am-6:00pm
800 662 9522
Your savings federally insured to at least $250,000
and backed by the full faith and credit of the United States Government
National Credit Union Administration, a U.S. Government Agency