home equity line of credit rate

September/October 2005 Home Equity Line of Credit RATES AS LOW AS Our home equity line offers tax advantages and a low rate With a SECU Home Equity Line of Credit, our low rate makes financing projects easy! As you pay off what you’ve borrowed, more credit is made available, up to your credit limit. You decide how and when you want to use it—for remodeling, tuition, your child’s wedding or even buying a car! Check out our low “prime minus ½%” rate, probably the lowest rate around. The amount you can borrow depends on how much equity you’ve built up in your home, generally up to $100,000.** Unlike using a credit card, the interest paid on home equity may be tax deductible.** That tax break makes the cost of borrowing 6.00 % APR* * APR = Annual Percentage Rate. Rates as low as 6.00% APR. Line of credit rates as low as Prime minus ½% with a floor rate of 3.50% APR and a ceiling rate of 18.00% APR; Prime rate is obtained from The Wall Street Journal, was 6.50% as of 8/24/05 and may change. The rate is determined by application and credit history. The rate is variable and can adjust on a monthly basis. Minimum initial draw is $10,000; up to 80% Loan to Value (LTV). Credit lines up to 100% LTV also available. SECU pays for appraisal, credit reports and closing costs on your first SECU Home Equity Line of Credit (one per primary/secondary residence), subject to credit history. Closing costs range from $650 to $850 on a $10,000 line of credit. Adequate property insurance required. If loan is paid off within 24 months of original note date, closing costs must be reimbursed to SECU by borrower. Consult your tax advisor for deductibility of interest. effectively even lower than our already low Home Equity Line of Credit rate. Want to know more about SECU’s home equity borrowing options? For current rates or to apply online, visit SecuMd.org and click on the “Loans” button for the Home Equity page. Or call 410-487-7328 or 800-879-7328 anytime (select option 3) or visit a SECU branch. ** Consult a professional tax advisor about your particular situation. Home buying seminar SECU will hold a free home buying seminar on Saturday, Nov. 5 from 9 a.m. to noon, at our training center at 989 Corporate Blvd. in Linthicum, Maryland. We’ll guide you through the home buying process and will help you understand how your credit situation affects getting a mortgage. To register, please call 410-487-7797. Save money on fees at nearby Allpoint ATMs When you’re not near a SECU ATM, save on fees by using a surcharge-free Allpoint ATM. And if you have Choice or Premier Checking, your checking withdrawal may be totally free!† SECU members can access the national Allpoint ATM network, with nearly 900 Allpoint ATMs in Maryland. You’ll find convenient Allpoint ATMs where you eat, shop and buy gasoline: BP Amoco, Costco, CVS, Exxon/Mobil, Giant Food, Shell, Sunoco, Rite Aid, Target, Walgreen’s, plus many local stores and restaurants. Just look for the (continued on page 2) You’ll find surchargefree Allpoint ATMs in many of your favorite restaurants, stores and gas stations. Look for the green Allpoint logo on non-SECU ATMs. You’ll see other logos on the machine, too. 410-487-SECU • 800-TRY-SECU SecuMd.org Save money on fees at nearby Allpoint ATMs (continued from page 1) Relationship Rewards Checking Bring more of your banking to SECU and reap the rewards! Our Relationship Rewards program offers special benefits to members who choose SECU for their financial needs. The more you bank with us, the more we’ll reward you with free services, special CD and loan offers, plus more! bright green Allpoint logo among the other network logos on the machine. What if Glenda B. of Glen Burnie needs cash? She has plenty of Allpoint ATM options, starting with breakfast at the Double T Diner, then shopping at Giant Food, Rite Aid or Walgreen’s. Glenda fills up her car’s gas tank at an Amoco, Citgo, Exxon, Mobil or Shell station, and grabs a quick lunch at McDonald’s. Now it’s time for serious shopping at Target and Costco. After dinner at Romano’s or Snyder’s, she goes bowling at the AMF Ritchie Lanes or Jillian’s, followed by a late movie at Marley Station Mall. All of these retail locations have—you guessed it— surcharge-free Allpoint ATMs! To find an Allpoint ATM in your neighborhood or anywhere across the U.S., visit the Branches & ATMs page at SecuMd.org. † SECU offers free financial workshops In October, SECU will offer two free financial education workshops: • Balancing Your Checkbook will be held on Wednesday, Oct. 12, from 6 to 8 p.m. Learn the basics of how to balance your checkbook to get your finances on track. This will be a working session: please bring your check registers, receipts, two or three SECU statements and anything else that will help you put your account information in order. • Understanding Your Credit Report will be held on Wednesday, Oct. 26, from 6 to 8 p.m. You’ll learn what’s on a credit report, get tips on improving your credit report and how to build or rebuild your credit. Both workshops will be held at SECU’s training center at 989 Corporate Boulevard in Linthicum, Maryland (near the intersection of W. Nursery Road and Rte. 295). Please register at least one week in advance, since seating is limited. Just call 410-487-7654 to tell us your name and which seminar you’d like to attend. Maximize your rewards with a Relationship Rewards checking account. Your Relationship Rewards are determined by your total deposit and loan balances with the credit union. You can avoid SECU’s $1.00 foreign ATM fee for withdrawals at Allpoint ATMs by signing up for Choice or Premier Checking—ask for details. Save on travel and entertainment costs This fall, SECU will introduce an exciting new travel and discount service. Enroll in the Benefits Plus® program to receive: • Guaranteed lowest published airfares • 3% cash rebates on all air and cruise tickets • 5% cash rebates on hotel reservations • Discounted tickets at select theme parks and movie theatres • Restaurant discounts • Free credit card registration and more Look for Benefits Plus program details in the next issue of SECU&You! If you don’t keep a high balance in your checking and savings accounts, but your total SECU deposits and loans are $10,000 or more, you’ll still qualify for Premier Interest Checking! With Premier Checking, enjoy free Bill Pay, free Allpoint ATM checking transactions, bonus rate CDs, bonus loan credits, no-fee travelers checks and many other benefits. Don’t have $10,000 in total SECU loan and deposit balances? Just $1,000 in total balances will qualify you for Choice Interest Checking with benefits similar to Premier Checking. To find out more about Relationship Rewards, visit our Checking page at SecuMd.org, ask at a branch or call SECU (option 8). Holiday Schedule All SECU branches and offices will be closed on Monday, Oct. 10, 2005 (Columbus Day). 2 For more information, call SECU Credit Union: 410 -487- SECU or 800 -TRY-SECU Buy your next car at our Enterprise Car Sale Looking for a quality used car, truck or SUV? Buying used instead of new can save you money since new cars lose value quickly due to depreciation. Choose from a huge selection of well maintained, late model used vehicles at our Enterprise Car Sale, from Oct. 27-29. Enterprise offers guaranteed “nohaggle” pricing below the Kelley Blue Book retail value and has a 7-day repurchase policy to make sure you’re satisfied with your vehicle. As a special Car Sale “thank you,” Enterprise will deposit $300 into your SECU Savings account when you buy your car with SECU financing at the sale.* Why not visit your SECU branch before the sale to get pre-approved? You’ll know what price range to look for, plus you’ll save time when you’re buying your Enterprise bargain! Enterprise Car Sale dates and locations Thursday, Oct. 27 and Friday, Oct. 28: • Glen Burnie, Westminster and White Marsh: 9 a.m. to 7 p.m. • Laurel, New Carrollton and Rockville: 9 a.m. to 6 p.m. Expressline bank-byphone improvements SECU’s free Expressline telephone banking service will be upgraded this fall, introducing voice recognition and faster processing. Please note that some menu options may change, so listen carefully to the recorded instructions. Why wait to speak with a SECU phone representative? Calling Expressline is a faster way to confirm your account balances, verify Check Card transactions and find out if a particular check has cleared, learn current rates or transfer money between your SECU accounts. Call Expressline anytime at 410-4877930 or 888-643-9777, then key in your Member Number and Expressline PIN. If you don’t remember your PIN, call SECU (option 8) and we’ll mail you a PIN reminder. Saturday, Oct. 29: • Glen Burnie, Westminster and White Marsh: 10 a.m. to 5 p.m. • Laurel, New Carrollton and Rockville: 10 a.m. to 4 p.m. Stop by any of these Enterprise Car Sale locations: • Glen Burnie: 502 Crain Hwy. • Laurel: 13400-A Baltimore Ave. • New Carrollton: 7998 Annapolis Rd., Lanham • Rockville: 15615 Frederick Rd. • Westminster: 609 Baltimore Ave. (Route 140) • White Marsh: 10825 Pulaski Hwy. “thank you” deposit courtesy of Enterprise* * Visit the Current Promotions & News page at SecuMd.org or call SECU (option 8) for details. $300 Privacy and safety tips available online Protect yourself against becoming a victim of fraud or identity theft. Visit SecuMd.org, and click on the “Your Security & Privacy” navigation button to read about these privacy issues: • Fraud alerts • Reporting lost or stolen account information • How SECU protects you and how to protect yourself from scammers • SECU’s Privacy Policy • “Phishing” and other terms Security alert for ATMs Some newer style ATMs scan and return your card to you right away. After you perform your last banking transaction, a screen will ask if you want another transaction. Make sure you select “No” to cancel any additional transactions. If you don’t, the next user may be able to access your accounts since the ATM doesn’t know that you’re finished. And don’t forget to take your ATM receipt! 3 Visit SECU Credit Union, anytime, on the Internet: SecuMd.org Contact SECU On the Internet http://www.SecuMd.org Check Card purchases: selecting debit or credit When you make purchases with your Check Card, you may wonder why you choose “debit” or “credit.” The difference is bigger than whether or not you sign a receipt. Sometimes stores automatically select “debit” for you, meaning that your transaction is processed by the STAR electronic network. For selecting “debit,” you’ll be charged a 25¢ Pointof-Sale fee for each transaction (unless you have Choice or Premier Checking). However, this debit option allows you to get cash back, with a total daily purchase/withdrawal limit of $800. When you select “credit,” there’s no service charge. You can use up to $1,500 of your available checking balance per day.* And you’ll enjoy purchase protection similar to that offered by your Visa® credit card, so you’re not liable for losses due to a stolen card or fraud. If you don’t want cash back, selecting credit is a better deal! * Call SECU if you want to raise the $1,500 daily limit. By telephone Call one of the phone numbers below and select option 8 for our Contact Center, Monday – Friday, 8 a.m. to 7 p.m. and on Saturday, from 9 a.m. to 1 p.m. Baltimore area: 410-487-SECU (7328) Other areas, toll-free: 800-TRY-SECU (800-879-7328) 24-hour Expressline: press “1” 24-hour loan applications: press “3” Expressline-only, Baltimore: 410-487-7930 Expressline-only, toll-free: 888-643-9777 TDD, Baltimore area: 410-487-7905 TDD, other areas, toll-free: 888-833-7328 Whether you select “debit” or “credit,” making a purchase with your Check Card will withdraw money directly from your checking account just like writing a check. (Although your Check Card has a Visa logo, it is not a credit card.) The amount of your purchase may be debited almost immediately, so please make sure you have enough funds in your account. For more information about SECU Check Cards, ask at a branch or type “check card” in the Search box on our website, SecuMd.org. Affordable dental coverage through SECU SECU Credit Union of Md., Inc. 971 Corporate Boulevard Linthicum, MD 21090-2337 SECU members (plus their family and household members) are eligible for affordable, comprehensive dental insurance. SECU and The Dental Network, Inc. offer the Provider Choice dental insurance plan with over 500 participating dentists in Maryland and Washington, D.C. With the Provider Choice plan, you receive all basic dental services for a fixed co-payment, similar to most health plans. More comprehensive dental procedures such as dental surgery, crowns, bridges, root canal therapy and orthodontic care are offered at significant savings; see the Schedule of Benefits for details. Paying for your dental insurance is convenient. Quarterly premiums can be paid by Visa®, MasterCard®, or automatic transfer from your SECU Share Savings or Checking account in January, April, July and October. Or set up payments using online Bill Pay! For a dental plan enrollment form and a Schedule of Benefits, please call 410-847-9060 or 888-833-8464. Board of Directors Donald Tynes, Sr., Chairman John D. Kenney, Vice Chairman Mark A. Reger, Treasurer Janet Q. Bacon, Secretary Directors: Dr. John W. Dorsey, Ellen C. Gardner, Timothy G. La Valle, John G. Luber, Gayle M. Seward; Directors Emeritus: Major Melvin W. Fisher and M. Lorraine Hebrank 4