Meriwest Messenger March by jolinmilioncherie


									                                                                                                        IN THIS ISSUE
                                                                                       • Consider a Short-Term Mortgage
                                                                                       • Make The Move to Reduce Your Mortgage
                                                                                       • Small Car Options for 2012
                                                                                       • Recognize Scams Targeting Small Businesses
                                                                                       • Did You Know: Turbo Tax Makes Filing Taxes Less Taxing
                                                                                       • In the Community: Financial Education Seminars

March 2012

Consider a Short-Term Mortgage              Mortgage rates are at a record low. If you’re   how much more you would pay in the
                                            thinking of applying for a new mortgage         short run against how much you would
                                            or re nancing an existing one, one option       save in the long run.
                                            to consider is a short payo term. You
                                            could save tens—or even hundreds—of             Before you commit to a shorter mortgage:
                                            thousands of dollars by nancing for 20,
                                            15, or 10 years instead of 30.                  Factor in the closing costs. If you are
                                                                                            considering re nancing an existing loan,
                                            A shorter term mortgage means you own           make sure you plan to stay in the house
                                            your home sooner, but it might also
                                            mean a higher monthly payment. Weigh                  “SHORT-TERM” (continued next page)

Make The Move to Reduce Your Mortgage
So you’ve given up your daily café co ee,   It’s an easy step and one less check to         both names on the title, but only one
your weekly dinner date, and your           worry about writing each month, or one          name on the loan. Just be sure that one
monthly massage to save money. But, if      less bill to pay through automatic bill         income will still help you qualify.
you’re looking to save big money, look      pay.
no further than your mortgage. That                                                         Also, check what you’re paying in private
loan most likely is your biggest monthly    Ask about fees—It doesn’t hurt to ask           mortgage insurance (PMI). PMI is insur-
expense—while interest rates remain         the loan o cers at your nancial institu-        ance that lenders require from most
near record lows. Here are ways to          tion if lower fees are available on some        home buyers who obtain loans for more
reduce your home loan expense:              mortgage costs. If you have good credit,        than 80% of their new home’s value. The
                                            the lender may even waive a few                 Homeowner’s Protection Act of 1988
Re nance at Meriwest Credit Union—          charges. Our Relationship Advantage             requires mortgage lenders or servicers to
Re nancing at a lower rate can cut your     program o ers $200 rebate on closing            automatically cancel PMI coverage on
monthly payment by hundreds of              costs based on your Relationship level.         most loans once you pay down the
dollars. And if you can a ord to re nance                                                   mortgage to 78% of the value and are
to a shorter term, you could save           Take out the loan in one spouse’s               current on your loan.
thousands of dollars in interest over the   name—If you or your spouse has a
life of the loan.                           tarnished credit score, or if one of you is     Talk to a Meriwest home loan o cer for
                                            self-employed with not much or variable         help with these decisions. Stop by or call
Automate it—Meriwest Credit Union           income, consider taking the loan out            us today at 877-MERIWEST (637-4937),
o ers Free Bill Pay and direct payments     only in the name of the person with the         or visit us online at
to set up automatic mortgage payments.      higher credit score. You still can have
“SHORT-TERM” (continued from front page)
long enough to recoup the expense of
re nancing with the new savings.

Review your other debts. Eliminate
expensive debts—for example large
credit card balances—before paying extra
on your mortgage.

Put retirement rst. If you don’t have a
retirement account, make it a priority. If
you’re eligible for a 401(k) plan,
contribute at least enough to earn the
maximum matching funds from your
employer. Think about choosing a 30-year
mortgage over a 15-year loan and
investing the di erence in payments into
a retirement account.

Evaluate your income source. Is your job
or other income source secure? If not, a
longer mortgage with a lower monthly
rate might interest you. The lower
payment would allow you to make extra
payments on the principal when you can.
One extra mortgage payment a year
could shorten a 30-year loan by three or
four years, and save you thousands of
dollars in the long run.

Stop in and visit the loan professionals at
Meriwest Credit Union to prequalify for a
new mortgage loan or re nance and get
the best mortgage term.

Auto rates as low as

                                                  % APR*

                                 on new auto loans
 Used vehicles, as low as 2.49% APR*

 *APR is Annual Percentage Rate. Rates e ective 3/1/2012. Rates,
 terms and conditions of loan will be based on individual credit
 worthiness. Auto loans more than 66 months, rate is 0.50% higher.
 72-month nancing is available for loans exceeding $15,000.
 84-month nancing is available for loans exceeding $20,000. No
 further rate discounts apply to the current stated rate. Current
 rates re ect promotional rate. Membership is required with a
 one-time, non-refundable $5 fee.
Small Car Options for 2012
High gasoline prices and new models
adapted from Europe convinced
American buyers in 2011 that maybe
they should consider small cars after all.
Now, a new selection of 2012 small cars
is catching shoppers’ attention.

Here’s a look at the 2012 small-car
models that are sparking consumer

Chevrolet Sonic: Sonic is a sportier-
looking and better-performing
replacement for the Aveo as Chevrolet’s
lowest-priced small car. The four-cylinder,
135-horsepower engine is rated at                                     eye-catching styling and high                                         rated for 22 mpg city, 31 mpg highway.
25 miles per gallon (mpg) in city driving                             mileage ratings. The four-cylinder,
and 35 mpg on the highway.                                            148-horsepower engine is rated at                                     If a new small car is in your future, turn to
                                                                      28 mpg in city driving, 40 mpg highway.                               Meriwest for your auto loan. Our a ord-
Ford Focus: Reviewers like the interior                                                                                                     able rates as low as 1.99%* can help get
comfort and features, including torque                                Fiat 500: Fun to look at and fun to drive,                            you with the vehicle you want. Call or
vectoring control, which adds braking                                 the 500 shows its sharp handling on                                   stop in today to learn how nancing that
force to wheels on one side during sharp                              winding roads, although its                                           small car through Meriwest Credit Union
turns. The SFE version will hit 29 mpg                                101-horsepower, four-cylinder engine-                                 can equal big savings.
city, 40 mpg highway, although the                                    rated 30 mpg city, 38 mpg highway—
rating for the standard model is 26 mpg                               leaves it feeling a little underpowered.                              For more information and tools to help
city, 36 mpg highway.                                                                                                                       you with your next purchase, visit us
                                                                      Volkswagen Beetle: In a new look for a                                online at,
Hyundai Veloster: The Veloster                                        classic model, Volkswagen has given the                               visit us at any convenient nancial
continues two attributes that have                                    Beetle its rst redesign since 1998. The                               center, or contact us at 877-MERIWEST
powered Hyundai’s recent U.S. success:                                200-horsepower, four-cylinder engine is                               (637-4937).
* APR is Annual Percentage Rate. Rates e ective 03/01/2012. Rates, terms and conditions of loan will be based on individual credit worthiness. 72-month nancing is available for loans exceeding $15,000.
84-month nancing is available for loans exceeding $20,000. 96-month nancing is available for loans exceeding $25,000. No further rate discounts apply to the current stated rate. Current rates re ect
promotional rate.
Recognize Scams Targeting Small Businesses
Small-business owners and self-employed                                     business or leadership award, research the opportunity
                                                                            carefully and be especially wary if you're asked to pay money.
individuals take note: Be on the lookout for
scams that speci cally target small businesses.                            • Stolen identity—Scammers often will pose as legitimate
Small-business fraud can come from internal threats, such as                 companies to rip o consumers. A company whose identity
employee fraud, or from external full-time scammers. Because                 is stolen doesn't necessarily lose money, but its reputation is
small-business owners often lack the time and resources to ght               potentially tarnished when angry customers, ripped o by
fraud, they are a popular mark for any number of di erent scams.             the scammers, think the real company is responsible.

The Credit Union National Association's News Now reports that              • Phishing emails—Some phishing emails speci cally target
the BBB advises business owners to watch out for these scams:                small-business owners with the goal of hacking into their
                                                                             computers or networks. Common examples include emails
 • Directory scams—Usually the scammer will call a business to               pretending to be from the Internal Revenue Service that
   “update“ the company’s entry in an online directory, or the               claim the company is being audited, or phony emails from
   scammer might lie about being with the Yellow Pages. The                  the BBB saying the company has received a complaint.
   business is later billed hundreds of dollars for listing services it      Company employees receiving suspicious email from a
   didn't agree to or for ads it thought would be in the Yellow Pages.       government agency or the BBB should not click on the links
                                                                             or open attachments. Contact the agency or the BBB directly
 • Office supply scams—Some scammers prey on small-business                    to con rm the legitimacy of the email.
   owners and hope they won't notice a bill for o ce supplies,
   such as toner or paper, that the company never ordered.                And if your small business is in need of nancial services, call us
                                                                          at Meriwest Business Banking. Businesses that choose Meriwest
 • Overpayment scams—Business employees should be                         enjoy signi cant savings by avoiding the high fees and
   cautious if a customer overpays using a check or credit card           prohibitive deposit requirements typical of most banks, and
   and then asks the business to wire the extra money back to             unlike a bank, Meriwest Credit Union can pay dividends on your
   the customer or to a third party. Overpayment scams often              business' checking deposits.
   target catering businesses, manufacturers, wholesalers, and
   even sellers on sites like eBay, Craigslist, and Etsy.                 Above all, Meriwest Credit Union is your business nancial
                                                                          partner — helping your business secure a successful future and
 • Vanity awards—While it’s attering to be recognized for hard            o ering a place where you are always welcome. Call us at
   work, some awards are just money-making schemes and have               877-733-7424, visit us online at, or
   no actual merit. If you’re approached about receiving a                stop by any convenient nancial center.
                                                                                                                Mobile Banking
Turbo Tax Makes Filing Your Returns Less Taxing
We’re now into tax season.

While some of you may have already
 led your tax returns, if you haven’t,
Meriwest Credit Union can help you
 le your 2011 tax returns through TurboTax, one of the most successful tax
software available today, at a discounted price.

TurboTax delivers the accuracy needed to calculate tax returns. With TurboTax,
simple tax returns are done quickly, while complex returns can be done faster
than before. No more scribbling – and a fast refund is just a click away!

If you’re expecting a refund from the IRS, plan on depositing your refund
check directly to your Meriwest account by using routing number

Call 877-MERIWEST, click on the TurboTax link on the web site, or visit for more details on how to save time and ensure
accuracy with your 2011 tax return!

                IN THE COMMUNITY:                                                            The Meriwest Mobile Banking App is
       FREE FINANCIAL                              FREE INVESTMENT                           available for Android and iPhone*.
     EDUCATION SEMINARS                               SEMINARS
     “Preventing Identity Theft”               “401K & Company Mergers”                      for details. Enjoy a few
       Wednesday, March 21                        Hillsdale FC at 1 p.m.                     of these improvements:
                                                   Saturday, March 10
   “Credit Myths & Credit Repair”
      Wednesday, March 28                          Cottle FC at 6 p.m.                     • Application Navigation
                                                 Wednesday, March 14                       • Consolidated Account Viewing
      Seminars take place at                      Chesbro FC at 6 p.m.                     • Single Screen Transfer Ability
         6:30 p.m., at our                        Thursday, March 15                       • Multiple User Access
     Chesbro Financial Center                   Monta Loma FC at 6 p.m.
      5615 Chesbro Avenue
                                                                                           • Expense and Budget Graphs
                                                 Wednesday, March 21                       • View Transactions up to 180 days
       San Jose, CA 95123
                                                  Milpitas FC at 6 p.m.                    • Single Transaction Details
                                                        March 22
     RSVP with Greg Meyer at                                                               • Branch and ATM Location Finder                   RSVP with Angelina Cervantes                   * Meriwest Credit Union does not charge for the mobile banking application,
  Visit our Events page for more                    acervantes@                            but standard text messaging and mobile phone rates from your wireless
                                                                                           provider may still apply. Registration to Meriwest Online Banking Required.
           FREE seminars!                                  Android is a trademark of Google, registered in the U.S. and other countries.
                                                                                           Apple, the Apple logo, iPhone, iPad, iPod, and iTunes are trademarks of Apple,
                                                                                           Inc., registered in the U.S. and other countries.

Meriwest Credit Union • 5615 Chesbro Avenue • San Jose, CA 95123 • 877-MERIWEST • Routing Number: 321176833 • Federally insured by NCUA.

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