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Your Credit Union Is Safe and Sound

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					Your Credit Union Is Safe and Sound

October 2008

Over the past month we’ve seen amazing changes in the financial markets as some of our country’s largest financial firms have stumbled. Fortunately, St. Agnes Employees Federal Credit Union is not subject to the problems faced by those other firms. Here are facts you should know concerning your accounts with SAEFCU: • Your funds are federally insured by the National Credit Union Administration (NCUA), through the National Credit Union Share Insurance Fund (NCUSIF). NCUSIF is backed by the full-faith and credit of the United States government. Your accounts are federally insured up to $100,000, with additional coverage of up to $250,000 for Individual Retirement Accounts (IRA’s). • SAEFCU’s primary asset is loans to our members. The health of that asset is measured by what we call a delinquency ratio. Our current delinquency ratio stands at .59%. That means that 99.41% of our loans are paid on time by members like you. In other words, in spite of the turmoil in the outside world, our members continue to pay their loans to SAEFCU on time. We thank you for that. • The money that we don’t lend to members is invested in federally insured certificates. Federal regulations restrict credit unions to these more secure investments. • SAEFCU has never participated in subprime lending of any type and our real estate loans to members represent only 23% of our total assets. Our real estate loans are concentrated only in Maryland, not in other states that are experiencing tremendous decline in property values. • SAEFCU’s reserves currently stand at 4.4 million against assets of $34 million, or 12%. Those reserves provide a cushion to protect membership against economic hard times. They are more than adequate for the environment we currently face. • Our net income through August 2008 is $80,777. Those earnings will go back into our reserves to make SAEFCU’s foundation even stronger. These are very challenging times but the good news is that SAEFCU remains strong and ready to help you, our members, with your financial needs. Sincerely, Margaret Burdette President/CEO Paul Coakley Chairperson, Board of Directors

Late Breaking News!
Home Equity Special The Holidays Are Right Around the Corner!
If you haven’t planned ahead we can help. Borrow up to $2,000 for as low** as 8% with up to 12 months to repay.
Offer expires 1/31/09.

New Car Rate REDUCED! Got Yourself A Lemon
80% Financing as low as** 3.50% APR up to 72 month term as low as** 4.50% APR 73-84 month term 100% Financing as low as** 3.90% APR up to 72 month term as low as** 4.90% APR 73-84 month term

As low as** 4.50% APR 5 year term • Closed-end No application fee No closing costs No credit report fee $150 appraisal fee
Offer applies to new loans only. Expires 11/30/08.

Of An Auto Loan?
We can sweeten your deal! Refinance a car loan from another financial institution at 2% lower than your current rate.* Call the Loan Officer for details.
*Offer not eligible on existing loans financed through SAEFCU. Rate will not be lower than 3.9% APR. Current loan must be paid up to date with no late payments.

Contact our Loan Officer at (410) 368-3227 for additional information on the above loans.
*Annual Percentage Rate. Rates and terms subject to change at any time. **Rates quoted are the lowest available (“as low as”). Actual rate may differ and is dependent on the applicant’s credit history.

VISA® Credit Cards
Our VISA credit cards are designed with you in mind. We’ve combined attractive rates with money saving features that distinguish our card programs from competitors. You can count on convenience and consistent value from your VISA Classic, Gold or Platinum card from St. Agnes Credit Union. All of our credit cards feature the following common benefits: • • • • • Low FIXED interest rates NO annual fees 25 day interest-free grace period on purchases Low minimum payments Easy balance transfers, with no fee or higher interest rate. • NO cash advance fees • The convenience of automatic payments: no need to think about sending a check, no worrying about late fees! • For ultimate card convenience, all St. Agnes Employees Federal Credit Union VISA cards can also be used in nationwide networks of Automated Teller Machines (ATMs) to obtain a cash advances on your VISA account.

Celebrate Your Credit Union Ownership this October!
Do you know who owns St. Agnes Employees Federal Credit Union? You do! And that is just one of the many things that make credit unions unique and one of the membership benefits we’ll recognize on October 16 when we celebrate International Credit Union Day. Credit unions are not-for-profit, democratically controlled, volunteerrun, member-owned cooperatives. They exist to serve their members. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members in the form of lower loan rates, higher interest on deposits, and lower fees. Because they are unique in both structure and purpose, credit unions provide a viable alternative to for-profit financial institutions for more than 177 million members in 96 countries. At SAEFCU, we take pride in our heritage as a cooperative financial services provider and our connection to the 49,000 credit unions worldwide. On October 16, we’ll join with credit unions and their members around the world to celebrate International Credit Union Day in recognition of the benefits those institutions bring to their members. At credit unions, every customer is both a member and an owner. This year’s International Credit Union Day theme – It Belongs to Me – celebrates the economic democracy and equal ownership rights of each credit union member, regardless of how much money that member may have in savings. Please join us on October 16 as we honor our most valuable asset: our members. You are and the reason SAEFCU exists. Stop by our office on October 16 to celebrate the credit union difference..
This article was created through the cooperative efforts of the Credit Union National Association (CUNA) and World Council of Credit Unions (WOCCU).

Card Type Minimum Payment*
Classic Gold Platinum 3% of Balance 3% of Balance 3% of Balance

APR
10.9% 9.9% 8.9%

*3% of your total balance or $20, which is greater.

Apply online at www.saefcu.org, call our Anytime Loan Application Service at 1-888-273-7228, or contact our Loan Officer at (410) 368-3227.

E-statements
E-statements are a fast, safe and free way to retrieve your statement each month on CU Online*. They contain the same information as the regular monthly (or quarterly) statement you receive in the mail. Each month, the statements are automatically posted and are available to view through CU Online. If you are a current CU Online user, but have not yet signed up for E-Statements sign in to your account and click on the E-statement tab. Be sure to check the email address we have listed for you on CU Online - if it’s incorrect click “Update email address”. If you are not signed up for CU Online, go to www.saefcu.org to print an application. Sign up for E-statements by November 14, 2008 and we’ll put $5 into your savings account as a thank you! If you have questions regarding CU Online or E-statements, contact Lisa Winterton at (410) 368-3169 or lwinterton@saefcu.org.
*You must log into CU Online to authorize E-statements. $5 will be put into your savings account within 5 business days of signing up.

Auto Insurance
Consumers purchasing insurance through MAIF (the Maryland Automobile Insurance Fund) often end up paying extremely high-interest costs at outside financing companies. The Credit Union has established a program to allow members to finance MAIF Premiums at a lower rate. Call Member Benefits, Inc. at 410-882-0810 for more information on how to take advantage of this program.

Life’s Moments
Your first home. A college education. The trip of a lifetime. We’ve been there for the special moments in our members’ lives. How have we helped you? Share your story and we may include it in our 40th anniversary celebration in 2009. Send your story to lwinterton@saefcu.org or mail to: St. Agnes Employees Federal Credit Union, Attn: Lisa Winterton, 720-E Maiden Choice Lane, Baltimore, MD 21228

0% Financing: What Does It Really Mean?
Is 0% financing from the dealership always going to save you money? If you are prepared with alternative financing options before you walk through the showroom door, you’re already ahead of the game. Only a very small percentage of buyers will actually qualify for that terrific 0% rate, and often terms are for 36 months, which means higher monthly payments for you. So being ready with “plan B” or even “C”, or “D” is a necessity. Do your homework before you step foot inside the dealership and find the very best options, in case the 0% is not all it’s cracked up to be. Make sure you find out about any available rebates. Often, opting for a rebate and a low interest rate will cost you less than no rebate and 0% APR. You should also consider the total cost of the entire package, vehicle purchase price and financing. If you can save on the purchase price of your vehicle, going with low rate financing may be a better deal than taking the dealers 0% financing with a higher purchase price. Last, but not least, don’t think an auto loan is the only advantageous way to finance a vehicle. If you’re a homeowner, you may want to consider financing your vehicle with a home equity loan. With a home equity loan, you can borrow up to 80% of the equity in your home for almost any purpose you’d like, including the purchase of a new vehicle. The interest rates on Home Equity Loans are typically as competitive as auto loan rates but, because a home equity loan is tied into your home, you might benefit from tax advantages that you will not find with an auto loan. The bottom line is that before you sign on the dotted line, think about whether you are getting the best deal. If not, it could end up costing you lots of dollars and cents! Take a look at a comparison of 0% financing with no rebate vs. taking a rebate with low rate financing; Dealer 0% Purchase Price $20,000.00 20% Down Payment $4,000.00 Rebate or CU savings $0 Amount Financed $16,000.00 APR for 60 months 0.0% (sample rate) Monthly Payment Amount $266.66 Total Finance Charge $0 Total Cost: $16,000 SAEFCU $20,000.00 $4,000.00 -$2,500.00 $13,500.00 3.50% APR $245.59 $1,235.05 $14,735.05

Mini Loan Application
Member #: ________________________________ Applying for APPLICANT Name____________________________________________________ Address__________________________________________________ City____________________________ State________ ZIP_________ Social Security # ___________________Date of Birth _____________ Driver’s License #________________________________State______ Home Phone (_____)__________ Work Phone (_____)____________ Employer ________________________________________________ Date of Hire ______________ Gross Monthly Salary $_____________ Other Income $__________* Rent Mortgage Source ________________________ Amount $_________________________ Personal Loan Holiday Loan Auto Loan

Alimony/Child Support You Pay $_____________________________ Closest Relative Not Living w/You:____________________________ Address _________________________________________________ City______________________________ State________ ZIP_______ Phone # (______)__________________ CO-APPLICANT Name____________________________________________________ Address__________________________________________________ City____________________________ State________ ZIP_________ Social Security # __________________Date of Birth ______________ Drivers License #________________________________State______ Home Phone (_____)__________ Work Phone (_____)___________ Employer ________________________________________________ Date of Hire ______________ Gross Monthly Salary $_____________ Other Income $__________* Source ________________________ Alimony/Child Support You Pay $_____________________________ Closest Relative Not Living w/You:____________________________ Address _________________________________________________ City______________________________ State________ ZIP_______ Phone # (______)__________________
By signing below, I/we are stating that the information provided in this application is true. I/we authorize SAEFCU to check my/our credit history including the verification of the information I/we provided on this application. I understand you may contact me for further information, and that this application must be completely filled out for SAEFCU to process this request. You may obtain information from others about me/us and give credit information to others.

Applicant Signature:________________________________________ Co-applicant Signature:______________________________________ Please mail this application, with your last two paystubs to: SAEFCU, 900 Caton Avenue, Box 008, Baltimore, MD 21229 or fax the application and paystubs to (410) 368-3584.
*Alimony, child support or separate maintenance income need not be revealed if you do not wish to have it considered.

Savings

$1,264.95

Apply online at www.saefcu.org, call our Anytime Loan Application Service at 1-888-273-7228, or contact our Loan Officer at (410) 368-3227.

Loan Rates
Personal Loans Share Secured New Car Loans Used Car Loans New Image Loan VISA® Classic VISA® Gold Visa® Platinum Home Equity Line of Credit Closed-End Home Equity

APR*
As low as*** 9.90% 2% above current dividend rate As low as ***3.50% As low as*** 6.00% As low as***8.9% 10.9% 9.9% 8.9% Prime** minus .25% 5 year 10 year 15 year as low as*** 4.50% as low as*** 6.50% as low as*** 7.00%

Locations Saint Agnes Hospital 900 Caton Avenue, Box #008 Baltimore, MD 21229 Hours of Operation Monday - 7:30 a.m. to 4 p.m. Tuesday - 7 a.m. to 2:30 p.m. Wednesday - 8 a.m. to 4 p.m. Thursday - 9 a.m. to noon and reopening at 3 p.m. to 6 p.m. Friday - 7 a.m. to 2 p.m. Maiden Choice Medical Center 720-E Maiden Choice Lane Baltimore, MD 21228 Hours of Operation Monday - 8:30 a.m. to 3 p.m. Tuesday - 8:30 a.m. to 2:30 p.m. Wednesday - 8:30 a.m. to 3 p.m. Thursday - 8:30 a.m. to noon Friday - 8:30 a.m. to 2 p.m. Telephone Numbers Member Services (410) 368-3125 Hospital Office Fax (410) 368-3584 Maiden Choice Office Fax (410) 869-8293 Quick Check (24-hour Audio Response) (410) 368-8606 24-hour Whenever Loan Service (888) 273-7228 Lost and Stolen VISA® Check Card (800) 554-8969 Lost and Stolen VISA® Credit Card (800) 808-7230 Board of Directors Paul Coakley, Chairperson Patricia A. Sanders, Vice Chairperson M. William Rayman, Treasurer Marleen K. Griffin, Secretary Dorothy Horsmon Karen McLaughlin Drannin Rose Isazetta Spikes Kyle Swisher Credit Committee Barbara M. Sutton, Chairperson Bonnie Branham Betsy Conover Cliffton Green Holly Johnson Supervisory Committee Peter Andresen, Chairperson Cynthia Mullinix Carey Zink Credit Union Staff Margaret Burdette, President Toni Downey, Vice President Christine M. Armiger Megan Beckley Paulette Drombetta Lisa Herring Debbie Imhoff Angenette Leake Anita McCurley Linda Napier Dee Oden Sharon Poe Susan Thompson Lisa M. Winterton

Loan rates are subject to change. Call for mortgage programs and rates. Please call the credit union for additional information on applicable fees, terms and conditions. *Annual Percentage Rate **Prime rate as published www.primerate.com. The equity loan rate is subject to change on the first day of the quarter (January, April, July & October) if there are any changes in the prime rate. Minimum 2.5%. ***Rates quoted are the lowest available (“as low as”). Actual rate may differ and is dependent on the applicant’s credit history and/or term of loan.

Dividend
Savings Club Accounts Checking IRA Share

Rate
1.00% .75% .25% 1.25%

APY
1.01% .75% .25% 1.26%

As of August 31, 2008
Assets Shares Loans Members $34.036,289 $29,355,563 $18,438,887 7,174

Annual Percentage Yield (APY) as of quarter ending September 30, 2008.

Holiday Closings
October 13 November 11 November 27 December 24 December 25 December 31 January 1 Columbus Day Veterans Day Thanksgiving Christmas Eve-closing at 1 p.m. Christmas New Year’s Eve-closing at 1 p.m. New Year’s Day

Supervisory Committee
If you experience a problem with any credit union service or have a question, the Supervisory Committee is here to help. Of course, you can always contact a staff member first. However, if your problem is not resolved to your satisfaction, please do not hesitate to contact the Supervisory Committee for additional assistance. Write to the Supervisory Committee at: St. Agnes Employees Federal Credit Union, P.O. Box 24026, Baltimore, MD 21227

Credit Union Mission Statement
St. Agnes Employees Federal Credit Union is a memberowned credit union whose purpose is to provide premier individualized accessible service. Through our “People Helping People” philosophy we continuously strive to offer innovative services while maintaining financial strength and stability.

We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.

www.saefcu.org
An Award Winning Credit Union.


				
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