home equity line of credit promotion

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					                                                                                                    August/September 2004

       Home Equity                       Get the straight scoop on SECU loans
       Line of Credit                    As your credit union, we’re here to
                                         help you get the loan you need—with
                                                                                                    We want to make applying for a SECU
                                                                                                    loan convenient for our members.
           RATES AS LOW AS               payments you can afford. Compare our                       No time to visit a branch? Apply

       4.00                      %       rates (including our low or no fees) to                    online at Or you
                                         a bank’s!                                                  can apply for most loans by phone,
                                 APR**                                                              24 hours a day. Just call 410-487-
          (See page 2 for details.)      Looking for a quick way to calculate                       SECU or 800-TRY-SECU (option 3).
                                         different loan payments? Try the free                      To apply for a mortgage, call SECU
                                         loan calculators on our website, found                     (option 3) during our Contact Center’s
                                         under the “Rates & Calculators” button.                    business hours; please see page 4.

Coming this fall!
Relationship Rewards
                                         Visa rates as low as
This fall, we’re introducing several
account options that will reward you     7.99% APR*
for banking with SECU—checking
accounts with the options you prefer,    Our Platinum Visa® credit card is a
like free Bill Pay and bonuses on        helpful financial tool:
CDs! You’ll be seeing more informa-
tion about Relationship Rewards          • No annual fee or balance transfer fees
beginning next month.
                                         • Low, fixed Annual Percentage Rate
                                         • 25 day interest-free grace period
                                           on purchases
                                                                                                    Financial tip: Don’t rely on
                                         • No transfer fee for cash advances                        interest-only payments
                                           or withdrawals at SECU branches
                                           and ATMs
                                                                                                    Credit cards are meant for financial
                                         • World-wide Auto Rental Insurance and                     flexibility, not overspending. Paying
                                           $500,000 Travel Accident Insurance                       just the minimum payment on a
                                                                                                    credit card bill may help you get
                                         • Convenience checks for transferring
                                                                                                    through a tight month, but making
                                           higher rate balances to your SECU
                                                                                                    this a habit can hurt you, big time.
                                           Visa card
                                         • Add the ScoreCard feature to earn                        For example, if you have a $5,000
                                           points for travel and merchandise.                       balance on a credit card with an 18%
                                           Apply now and we’ll waive the first                      Annual Percentage Rate, paying only
                                           year’s $25 ScoreCard annual enhance-                     the minimum payment each month,
                                           ment fee and give you 5,000 points                       it will take 26 years to pay off your
                                           when you activate your account.                          balance! You’ll have paid $7,115.42 in
                                                                                                    interest, without making any addi-
                                         *APR = Annual Percentage Rate. Rate is determined by       tional charges on your card.
  410-487-SECU • 800-TRY-SECU            application and credit history. Visit for
                     rates and more information.                                                       (continued on page 2)
    Don’t rely on interest-only                                   Home equity is a                                                 New or used: check
    (continued from page 1)                                       better way to borrow                                             out SECU’s low rates
    It’s best to pay off your credit card bal-                    One of the best features of your home                            SECU offers low rates for new and
    ances each month. If you can’t manage                         isn’t the comfy family room or extra                             used Auto Loans plus 100% financ-
    that, switch higher-rate balances to a                        bedroom. It’s the financial borrowing                            ing, in case you don’t have a down
    lower-rate credit card or home equity                         power known as equity built up since                             payment. Ask about our 60-day pre-
    line of credit. It’s also essential to look                   you purchased your house. The dif-                               approval—we’ll tell you exactly what
    at your expenses to create a spending                         ference between the market value of                              you’ll qualify for, so you can go car
    plan, or budget. You’ll never be able                         your home and what you’ve paid off                               shopping with confidence.
    to get ahead without controlling                              on your mortgage is your home’s
    your expenses.                                                equity. Visit our website and try our                            What if you already have an auto loan
                                                                  free home equity calculators!                                    with another financial institution?
    That’s where SECU’s free and confi-                                                                                            Refinance with a lower-rate SECU loan.
    dential Financial Counseling service                          Why a SECU Home Equity Line                                      For more information or to apply for
    can help. Visit or                                                                                              an Auto Loan, visit a branch or our
    call SECU for a debt counseling ques-
                                                                  of Credit is a better choice:                                    website, or call 410-487-SECU or
    tionnaire. Fill it out and return it to                                                                                        800-TRY-SECU (option 3).
                                                                  • We pay the closing costs!**
    us. A Financial Counselor will contact
    you with better budgeting ideas.                              • Your interest may be tax deductible
                                                                    (consult your tax advisor).**
                                                                  • Borrow up to 100% of the equity
                                                                    in your home.**
                                                                  • Settle at your home or office.
                                                                  • Use home equity for home im-
                                                                    provements, bill consolidation,
                                                                    major purchases, even tuition.

                                                                  Financial tip: Maximize tax
                                                                  savings with Home Equity
    Save money with                                               Cut down on taxes by deducting
    free online Bill Pay                                          mortgage and home equity interest
                                                                  on your tax return (consult your tax
    through December                                              advisor).** Tax deductibility is a                               Financial tip: Our low rates can
                                                                  clear-cut advantage you won’t get by                             beat dealer financing
    Do you use our convenient (and free)                          making big purchases with credit
    Online Banking service? See how                               cards or most other loans. That’s why                            When you’re ready to buy a car, you
    easy it is to pay bills online with our                       some members choose to buy a car                                 may be offered a choice of a manu-
    Bill Pay service. Give it a test drive—                       using a home equity line!                                        facturer’s rebate or 0% dealer financing.
    we’re waiving all Bill Pay service fees                                                                                        Though 0% sounds tempting, we’ve
                                                                  ** APR = Annual Percentage Rate. Rates as low as 4.00%
    now through December 2004.*                                   APR. Line of credit rate is Prime minus ½% with a mini-          got a better idea! Use the rebate as a
                                                                  mum rate of 4.00% APR and a maximum rate of 18.00%               down payment toward the purchase
    Cut down on checks, stamps, enve-                             APR; Prime rate was 4.50% as of 8/16/04 and may change.          of your car and pay less with a low-
                                                                  The rate is determined by application and credit history.
    lopes and clutter, too. To enroll in Bill                     Minimum initial draw is $10,000; up to 80% Loan to Value         rate SECU loan.
    Pay, log on to SECU’s Online Bank-                            (LTV). Credit lines up to 100% LTV also available. SECU pays
    ing and click on the “Bill Pay” button.                       for appraisal, credit reports and closing costs on your first    By applying the rebate to the purchase
                                                                  SECU Home Equity Line of Credit (one per primary/
                                                                  secondary residence), subject to credit history. Closing costs   amount, you’re lowering the amount
    * “Free Bill Pay” promotion in effect through December        range from $650 to $850 on a $10,000 line of credit. Ade-        financed, a better deal in the long run.
    31, 2004 for all SECU Bill Pay users. Starting in October,    quate property insurance required. If loan is paid off within
    SECU will offer several options to allow members to                                                                            To determine which financing is bet-
                                                                  24 months of original note date, closing costs must be
    have their Bill Pay fees waived. Look for details in future   reimbursed to SECU by borrower. Consult your tax advisor         ter for you, visit our website for free
    issues of SECU&You.                                           for deductibility of interest.                                   auto loan calculators and current rates.

                                                                  For more information, call SECU Credit Union: 410 -487- SECU or 800 -TRY-SECU
                                                                                 Sept. 16 -18 Car Sale:
                                                                                 Anderson Automotive
                                                                                 Join us for our last car sale of the
                                                                                 season! SECU and Anderson Auto-
                                                                                 motive of Baltimore City will offer
                                                                                 low-rate SECU financing for an
                                                                                 amazing inventory of new and used
                                                                                 Buicks, Chevrolets, Hondas, Oldsmo-
                                                                                 biles and Pontiacs.

                                                                                 They’ll even provide a $200 “thank
                                                                                 you” deposit into your SECU savings
                                                                                 account when you buy a car with a
                                                                                 SECU Auto Loan!*

Apply online for faster                  Financial tip: Avoid paying             SECU’s Sept. 16-18 Anderson
mortgage processing                      Private Mortgage Insurance              Car Sale
                                         If you don’t have a 20% down pay-       Where: Anderson Automotive
Chances are, you’ve researched your      ment for a house, you’ll have to pay           of Baltimore
dream home on the Internet. Now          Private Mortgage Insurance (PMI).
you can go online to apply for a         PMI will be cancelled by your lender           Howard and 25th Streets
SECU mortgage, anytime!                  once the loan-to-value ratio drops             Baltimore, Maryland
                                         below 78% of your home’s original
Whether you apply online, by phone or    value.                                                       16
                                                                                 When: Thurs., Sept. 16 (9 a.m. to 9 p.m.)
at a branch, a SECU mortgage offers:                                                               17
                                                                                       Fri., Sept. 17 (9 a.m. to 9 p.m.)
                                         Still, you can avoid paying PMI                            18
                                                                                       S at., Sept. 18 (9 a.m. to 5 p.m.)
• Competitive interest rates             altogether! Inquire about an 80-10-10
                                         mortgage loan, which includes a
• Low down payment
                                         second mortgage to finance 10% of
• No application fee or pre-payment      the down payment; you’ll provide the
  penalties                              remainder of the 10% down payment
                                         on your own. Or if you have a 15%
• 120-day mortgage pre-approval—
                                         down payment saved, ask about an
  know what you can afford!
                                         80-15-5 mortgage.
• Loans for properties in Maryland,
  DC, Pennsylvania, Delaware,            To learn more about SECU’s mort-
  Virginia and West Virginia             gage options, call 410-487-SECU or
                                         800-TRY-SECU (option 3); please see     Anderson offers low MVCP pre-
For today’s low mortgage rates, visit    page 4 for our Contact Center’s busi-   negotiated pricing, including used
our website or call SECU.                ness hours, including Saturdays.        cars starting at $3,995, plus manu-
                                                                                 facturers’ rebates (up to $5,000).
                                                                                 Remember to take the rebate and
                                                                                 save with a low-rate SECU loan!
Financial Counseling
                                                                                 SECU loan officers will be on-site
Have you ever been turned down for               Holiday Schedule                during the sale to help you. Or call
a loan? Be sure to use credit wisely,                                            our Contact Center at 410-487-SECU
based on your current income level          SECU branches and offices will be    or 800-TRY-SECU (option 3) for pre-
and your existing obligations. If           closed on Monday, September 6,       approval before the car sale.
you’re in over your head, ask about         2004 (Labor Day).                    * Limited time offer for cars purchased at Anderson
our financial counseling program.                                                Automotive of Baltimore with a SECU Auto Loan during
It’s free and confidential.                                                      this sale only; call SECU or visit our website for details.

Visit SECU Credit Union, anytime, on the Internet:
    Contact SECU                      Phone scam alert
    On the Internet                   A handful of SECU members have             received suspicious phone calls from
                                      a scam artist asking for SECU Visa®
    By telephone                      credit card information. One member
                                      retrieved a scammer’s number from
    Call one of the phone numbers
                                      her caller ID service (1-877-494-7346)
    below and select option 8 for
    our Contact Center, Monday –      and reported this to Corporate Security.
    Friday, 8:00 a.m. to 7:00 p.m.                                               (Shown, from left): Robert Taylor and Joyce Cole, SECU
    and on Saturday, from 9:00 a.m.   Please remember; SECU will not call        Real Estate Lending Manager.
    to 1:00 p.m.                      you to ask for personal and account
                                      information! When you initiate a
    Baltimore area:                   call to our Contact Center, you may        Help for homebuyers
     410-487-SECU (7328)              be asked to verify information to
    Other areas, toll-free:           establish your identity. However,          SECU loan representative Bill
     800-TRY-SECU (800-879-7328)      don’t volunteer personal information       Atkinson presented a first-time home
    24-hour Expressline: press “1”    like account numbers, your address         buying seminar on July 14 in Linthi-
                                      or Social Security numbers to any          cum. He was assisted by real estate
    24-hour loan applications:        caller who approaches you first.           agent Robert Taylor, who shared
     press “3”                                                                   information about our free Real
    Expressline-only, Baltimore:      What are the signs of a scammer?           Estate Rewards program.
     410-487-7930                     Unsolicited calls with callers who
                                      won’t identify the name of their
    Expressline-only, toll-free:
                                      company and can’t explain how they
                                      got your phone number. If you receive
                                                                                 Save on car repairs with
    TDD, Baltimore area:
                                      a suspicious call about your SECU          an extended warranty
                                      accounts, don’t tell the caller any
    TDD, other areas, toll-free:      personal information. Hang up and          Even with a standard 3-year/36,000
     888-833-7328                     call SECU’s Contact Center directly.       mile “bumper-to-bumper” factory
                                                                                 warranty, what will happen when
                                                                                 your new car’s warranty runs out?
                                                                                 Mechanical breakdown protection,
                                                                                 available through SECU, can protect
                                                                                 your new car up to 100,000 miles or
                                                                                 up to seven years from date of
    SECU Credit Union of Md., Inc.
                                                                                 purchase, whichever comes first.
    971 Corporate Boulevard
    Linthicum, MD 21090-2337
                                                                                 Here are some benefits of the IWS
                                                                                 Vehicle Service extended warranty
    Board of Directors                                                           program:
    John D. Kenney, Chairman;                                                    • Low cost, with savings up to 50%
    Donald Tynes, Sr., Vice Chair-
    man; Mark A. Reger, Treasurer;    Credit wellness and ID                       of dealer service contracts
    Janet Q. Bacon, Secretary                                                    • Authorized repairs can be made at
                                      theft workshop at RICA                       a licensed facility of your choice in
    Directors: Dr. John W. Dorsey,                                                 the U.S.
    Ellen C. Gardner, Timothy G.      SECU Financial Counselor Charlie
    La Valle, John G. Luber, Gayle                                               • Low deductibles with a “zero
                                      Peace presented a workshop on ID theft
    M. Seward; Directors Emeritus:                                                 deductible” option
                                      prevention and credit wellness to em-
    Major Melvin W. Fisher, M.
                                      ployees at the John L. Gildner Regional    • New and used vehicle coverage
    Lorraine Hebrank and Henry
    A. Heinmuller, Jr.                Institute for Children and Adolescents       available
                                      (RICA) on July 14. RICA, located in
                                      Rockville, serves young people with        For program details, see our website,
                                      severe emotional disabilities.             visit a branch or call SECU.


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