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Newsletter - Greater Alliance Federal Credit Union


									                                                                                                                          Spring 2013

                                                                               Update        888.554.2328 •
Fax: 201.986.7539    •     Call 24 CU: 888.899.7480              •    First Mortgages: 800.963.1937                  •

Credit        G R E AT E R A L L I A N C E                                                                     Home
Union         HELP I N G O U R YO U T H                                                    Improvements

              For one week, Greater Alliance is o ering some great opportunities for
              any of our family members up to 22 years of age.                            Just Got Easier!

              Greater Alliance is pleased to introduce our NEW Young Adult
Kicks o       Advantage Savings package. Open a youth account 2 years of age                                                                              %
April 22              up to 22 and receive $35.00 in your account after you                                                                                A.P.R.*
                         become member.
                            Upon becoming a member, all young adults ages 16-22

                                                                                                                         Spring is
                            will receive a TOTALLY FREE Checking account as
                            well as their rst set of checks for free. Add to this
                              on-line Bill payer when you sign up for our email

                                                                                                                           in the Air!
                               billing statements, also FREE… and no minimum
                                deposit on our free checking accounts…                                                        t
                                 How much better can this be?
                                  Add to this 28,000 surcharge free COOP ATMs
                                 across the country! No ADDED FEES!! How
                                                                                                                         Loan Special
                                about that? ALL NEW youth accounts started
                                                                                               Our Home Equity Line of Credit
                               April 22-27 will receive a CHANCE TO WIN an
                             Apple iPad or one of 25 iTunes gift cards to download             is tailor made for your                    spring
                          a favorite song or two just for joining…                               home improvement needs!
                          Greater Alliance is a rm believer that nancial                 Bring your home equity loan to us and receive up to
                          responsibility starts when you’re young and support the
                         growing number of young adults who join us regularly.
                                                                                                           1,000 cash back!**
                                                                                             To speak with a mortgage specialist call
                                                                                         1-800-963-1937 or visit

    COMING SOON!                                                                       *A.P.R. (Annual Percentage Rate). Our Home Equity Line of Credit is an
                                                                                       adjustable rate loan; your monthly payments may increase based upon
                                                                                       movements in the Prime Lending Rate and/or the balance outstanding
                                                                                       on your line of credit. The potential monthly rate changes are based on

                                                                                       the Prime Rate minus .26% over the life of the loan. Prime Rate is deter-
                                                                                       mined as quoted in the Wall Street Journal (most recent value as of the
                                                                                       last day of the previous month). If applicable, your payments will change
                                                                                       on the first day of the month. At no time during the life of your loan will
                                                                                       your interest rate go below 2.99%, nor will it go any higher than 8.99%.

    Mobility                                                                           Your annual rate change per year can not exceed 2.00%.You can select
                                                                                       a term of 20 years with a “draw period” of 7 years or 15 years with a “draw
                                                                                       period” of 5 years. Loan amount is up to 75%of your home’s value (less
                                                                                       any other liens).Other restrictions may apply. Some Non-NJ Properties

    Banking!                                                                           may have State Tax related closing costs. Loan Rates and current offer
                                                                                       are subject to individual qualifying factors and may change at any time
                                                                                       without notice. **Cashback program based on 1% of loan balance trans-
                                                                                       ferred up to a max. of $1,000.

In          • Credit Union Youth Week                           • Money Management for
This        • Financing Specials                                  College Students
Issue       • President’s Message                               • Preferred Dividend Checking …Plus Much More!
                                    S T U D E N T L OA N S AVA I L A B L E

President’s Message
                  Despite the struggling New Jersey economy, we            In line with our strategic plan we are in the nal stages of our
                  remain optimistic that in 2013 we will continue          newest product, “Greater Mobility”! Once released, this product
                  to exceed our prior year’s performance. New              will provide our membership with the option of integrated access
                  Jersey, particularly Bergen and Passaic counties,        and complete functionality from your Smart Phone! Pay bills,
                  have faced signi cant challenges with regard             transfer funds, or simply check balances from your Smart Phone.
                  to employment and the value of real estate.                 is step to enhance our members experience is just the rst in a
                  Fortunately, as we move into 2013 there is               series of technology advancements planned in 2013.
cautious con dence among many New Jersey business leaders
                                                                           In addition, if you are in the market for a loan, please see us
that New Jersey will continue to grow. is optimism is driven
                                                                           FIRST! We have extremely competitive rates, we still o er our,
by decreasing unemployment, business growth and slow
                                                                           “cash back”, option, which rewards you for bringing your loan to
improvement in the real estate market. As a business partner
                                                                           Greater Alliance FCU. We also o er our “on-line” same day loans.
in this region, Greater Alliance FCU is committed to continued
                                                                           We will do whatever we can to get you the loan you want!
growth of our membership in addition to expanding our
products and services.                                                     As we enter our 76th year of service, remember we are here for
                                                                           you, your family and your friends! We are truly your family federal
We will focus our growth strategy on superior member service,
                                                                           credit union.
creative new products and a keen sense of developing our youth
market. While our growth and stability remain strong, we need
to develop our membership base. Branch e ciency and product
                                                                                                                                Patrick McGrath
development will be the key to our long term success.
                                                                                                                                President and CEO

As reprinted from nancial-edge by Amanda C. Haury         A N N UA L M E E T I N G
M O N E Y M A N AG E M E N T                                                   e Board of Directors cordially invites you to attend our 76th Annual Meeting
                                                                            at our Paramus headquarters on 40 West Century Road, the meeting will begin
FOR COLLEGE STUDENTS                                                        at 3:00pm on Wednesday, May 22nd, 2013. Come help us celebrate a great year
                                                                            for Greater Alliance Federal Credit Union and our Valued Members.
Entering college is an exciting and sometimes intimidating venture          Election Notice: Any Member in good standing of the Greater Alliance
for many students. Leaving high school and entering a Print college or      FCU interested in becoming a candidate to ll expiring terms on the Board of
university is a big step, and it is often the rst time many young adults    Directors must le a letter of intent with the Nominating Committee at our
taste the freedom of the real world and venture out from the warmth         Headquarters no later than April 16, 2013.
and safety of their parents’ homes. ere are many di erent tasks that        Interested Candidates should include the following information in their letters:
need to be juggled in Reprints order for a student’s college experience     1. Source of membership eligibility and length of membership in the credit
                                                                            union. 2. Present employment position. 3. Credit union committee experience.
to be successful. From studying and attending classes, to networking        4. Experience in nance, economics, personnel or marketing. 5. Leadership
and maintaining nances, there is much that a college student must           positions. 6. Associational, organizational a liations. 7. Availability to meetings,
tackle. One speci c area where many college students have di culty is       regular semi-monthly, monthly and special committees. 8. Goals and objectives
Feedback learning to budget e ectively. Here is a look at how college       you may have for GAFCU. 9. Other relevant background information.
students can more e ectively manage their money while furthering            All eligible candidates will be interviewed by the Nominating Committee by May
their education.                                                            2, 2013. e Nominating committee will select a slate for election. Candidates
                                                                            not selected may appear on the ballot by lling a petition with GAFCU which
• Enroll in a Meal Plan                                                     contains the signatures and addresses of not less than one percent of current
                                                                            membership in good standing.          e petition must be submitted by May 10,
• Share Expenses with a Roommate                                            2013. Additional election information may be obtained from the credit union.
• Watch out for Impulse Spending
• Determine What Is Essential and Non-Essential
• Saving Money on Supplies

   e Bottom Line
Entering college is an exciting milestone, and if this is your rst time
away from home, it can also be nerve-inducing. Get started on the right
                                                                                           Get Out of Debt, Stay Out of Debt!
foot nancially by taking the necessary steps to ensure a sturdy budget                                           April 18, 2013
when you step foot onto the campus.
                                                                                           For more information, please see the back cover.

             S H A R E U S W I T H YO U R F R I E N D S A N D FA M I LY !

             All banks have loan rates… but a                                                           If you are tired of paying the high interest rates on

                                                                                                        any of your credit cards or personal loans…
    Greater Alliance loan will save you money!
                                      Starting as low as                                                WE KNOW WE CAN HELP!!!!

                                                                                                        If you’d like to have more money in your pocket…
                                                                                     *                  WE ARE POSITIVE WE HAVE
                                                                                                        THE ANSWER!!
                                                                  for up to 4 years
                                                                                                        All individuals who bring their credit card debt to
                                                                                                        Greater Alliance and qualify will be eligible for
                                                                 on your next                           our Cashback program**…
                                                                 debt consolidation                     STOP BY TODAY!!
                                                                 or personal loan.                      *Our floor for this promotion is 4.99% for up to 4 years.
                                                                                                        **Cashback program based on 1% of loan balance transferred
                                                                                                        up to a max. of $1,000.

New Adjustable Rate Mortages
New Adjustable Rate Mortages                                                                                                                     Please call our
                                                                                                                                                   call center

     NOW AVAILABLE!!                                                                                                                                for more

Our Preferred Dividend
 Checking Account

                                                                                                                                    .99                          %
                                                                                                  Rates as
                                                                                                  low as

                                                                                                                                     A.P.R. for
  Requirements:                                                                                                                      48 months
       MINIMUM balance of $175
       Ten Debit Card Transactions per month (signature
       One Online Home Banking/Bill Payer (each month)
       and sign up for eStatements                                                       A.P.R. (Annual Percentage Rate) **1.99% refers to individuals who qualify and open
                                                                                         a checking account with payroll deduction/direct deposit. Rates as low as 2.24% for
       Direct deposit or Payroll Deduction.                                              qualified buyers who do not open a checking account through payroll deduction/direct
                                                                                         deposit. Actual rate may vary based on credit worthiness and subject to change without
       Two ACH Bill Pays (must be ACH Debit)                                             notice. A Greater Alliance CASHBACK PROGRAM refers to any loan balance you
                                                                                         bring from another financial institution to us for refinancing. Cashback is based on 1%
  *2.25% APY for balances up to $25,000 when all criteria are met. .50% APY on all       of the amount being refinanced up to a maximum amount of$1,000. Automobile loan
  balances above $25,000 when all criteria are met. .05% APY when criteria are not       titles with recorded lien holder information must be received by the credit union before
  met. Rate is subject to change without notice                                          any Cashback Incentive will be paid.

              N E E D A L OA N ? C H E C K O U T G A F C U ’ S R AT E S !
                                                                                SHARE & IRA CERTIFICATES
                                                                                      Pick The Terms That Work For You!
               SAVE THE DATE!                                                                              Effective April 1, 2013
       Get Out of Debt, Stay Out of Debt!                                                               CERTIFICATES                                        IRA
       If debt is dragging you down, take control of debt               Term                          Rate       APY*                             Rate            APY*
       before it takes control of you!                                  3 Month                      0.15%       0.15%                           0.20%            0.20%
          ere’s no cost to attend. At the seminar, you’ll learn about   6 Month                      0.25%       0.25%                           0.30%            0.30%
    the di erent kinds of debt, bene ts and costs of credit, warning    12 Month                     0.50%       0.50%                           0.55%            0.55%
                                                                        24 Month                     0.80%       0.80%                           0.85%            0.85%
    signs you have too much debt, what’s in – and how to get –
                                                                        36 Month                     1.24%       1.25%                           1.29%            1.30%
    your credit reports and credit score, how to tackle your debt,
                                                                        48 Month                     1.54%       1.55%                           1.59%            1.60%
    how to rebuild good credit, and – most importantly – how to         60 Month                     1.78%       1.80%                           1.83%            1.85%
    stay out of debt.
                                                                        Share and IRA Certificates minimum deposit: $500.
      ursday, April 18, 2013 • 5:30PM                                   *Annual Percentage Yield (A.P.Y.). Annual Percentage Yield shown is as of date of publication and is
                                                                        subject to change without notice.
    Community Room, Greater Alliance, 40 West Century Road
    RSVP to Johana Gomera at 201-599-5607

   S AV E T H E DAT E !                                                                  HOME EQUITY RATES
                                                                                          Home Equity Loan Rates Have
      Monday, August 12 , 2013
                                                                                                 Never Been Better!
    Apple Ridge Country Club
                                                                        At Greater Alliance FCU, our home equity loans are the answer to almost
       Please call Ana Suarez                                           any cash crunch! From home improvements to educational expenses, you
  at 201-599-5613 for more details                                      can depend on Greater Alliance FCU to give you the relief you need. Visit
                                                               today for more information!
        Greater Alliance                                                        Loan Type                               Rate                          Comments

        30           th
                                                                           The “Greater”
                                                                           Home Equity
                                                                           Line of Credit
                                                                                                               .26% Below
                                                                                                            (2.99% Floor and
                                                                                                                                                    15 or 20

  G lf
                                                                                                            an 8.99% Ceiling)

                                                                                 5 Year
                                                                                                              3.49%                               5 Year

                                                                                 Fixed                                               A.P.R.     Amortization
                                                                               10, 15 and 20 year terms are also available.
                                                                          *A.P.R. (Annual Percentage Rate). Fixed equity rates are based on individual qualifying factors.

                                                                                  DIVIDEND RATE SCHEDULE
                                                                                            FIRST QUARTER 2013
                                                                        Account                APY   Account                                                        APY
                                                                        SHARE SAVINGS                PLUS CHECKING
                                                                        ($175 and up)         0.05% ($175 and up)                                                 0.05%
             A Greater Way to Bank                                                                   +Greater Checking
                                                                        Special Share Draft   0.05%
  GENERAL INFORMATION                    BRANCH LOCATIONS                                             (High Yield)
       VP, Administrator –      40 W. Century Rd., Paramus, NJ 07652    Holiday/Vacation Club 0.10% ($2,500 to $49,999)                                           0.15%
    Glenn Guinto, ext. 266       359 Main St., Hackensack, NJ 07601     Youth Share Savings   0.10% ($50,000 to $74,999)                                          0.35%
Branch Manager, Hackensack –     66 Hamilton St., Paterson, NJ 07505                                 over $75,000                                                 0.50%
   Ellie Lombardo, ext. 261         Paramus and Hackensack Hours
                                                                                                     +Share rates for March are paid monthly.
 Branch Manager, Paramus –        Lobby: M-W 9-5; Th-F 9-6; Sat 9-1
  Dina Tarabocchia, ext. 259    Drive up: MTWF 8-6; Th 8-7; Sat 9-1
 Branch Manager, Paterson –
     Juan Bustos, ext. 700
                                            Paterson Hours
                                  MTWF 7:30 – 3:30; Th 7:30 – 5
                                                                                           HOLIDAY CLOSINGS
    Call Center Manager –            Call Center: 888-554-2328                 Memorial Day ...................................... Monday, May 27, 2013
  Amanda Caycho, ext. 215

                H AV E A H A P P Y A N D H E A LT H Y S P R I N G ! !

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