quarterly by chenshu

VIEWS: 12 PAGES: 4

									                                              Members’
                                                 Resource
                           PUBLISHED QUARTERLY BY PASADENA FEDERAL CREDIT UNION                                                                                         APRIL 2010




  “0%” Financing Vs. the Rebate... Your Guide to a Great Deal!
 S
           pecial offers such as “0% auto financing” sound like a great deal. But often, taking the
           rebate and financing at an affordable PFCU rate may yield greater savings and/or a lower
           monthly payment amount. Here’s a guide to help you make the right loan choice:

  n      Step 1: Your Preapproved PFCU Loan– Arrange your best PFCU loan rate and term
  BEFORE you visit the dealer show room, so you’ll have the bargaining power of a loan
  payment comparison.

  n     Step 2: Do Your Homework– Your credit report determines if you qualify for
  0% financing. A single blemish on your report can disqualify you, so know your
  credit score in advance. Also, dealers typically offer 0% financing for vehicles
  already on their lot, or for slower-moving models. To avoid disappointment,
  make sure you know in advance which models qualify for the 0% offer.
  (Remember, when you choose affordable PFCU financing, it is available for any
  make or model of YOUR choice.)                                                                                                   Don’t Need a Car but Have a Relative
  n     Step 3: Get Your Best Deal– Usually, the 0% financing option is offered only for                                            or Friend Who Does? Invite them to
  terms of 24 to 36 months. As a result, this shorter-term loan payment amount might be                                            Join PFCU and Apply for Auto Loans
  more than you want to pay, even with “0” interest. However, PFCU financing over a
  longer term can reduce that amount. Also, dealers may offer 0% financing OR a                                                          as Low as 3.99% APR!*
  rebate, but not both. In many cases, buyers can realize greater savings by taking the
  rebate and then financing the lower car price at a reasonable PFCU interest rate.
                                                                                                                                    Don’t Take the Bait on Online Scams . . . 2
  n  IMPORTANT NOTE: Just because you won’t pay interest with 0% financing doesn’t
                                                                                                                                    Five-Star Bauer Award . . . . . . . . . . . . . . . 2
  mean the payment amount will fit your budget. NEVER consider it as a way to afford a
  more expensive vehicle. Shop smart, and make sure your deal works for YOU!                                                        75th Anniversary Annual Meeting . . . . . 2
                                                                                                                                    Online Tools . . . . . . . . . . . . . . . . . . . . . . . . . 3
                              Dealer               PFCU                    PFCU Loan C, Less           PFCU Loan D, Less            May is E-Statement Month . . . . . . . . . . . . 3
                              Loan A               Loan B                  $2,000 Rebate               $2,000 Rebate
                                                                                                                                    “Reg CC” & Your Check Deposits . . . . . 3
      Loan amount             $20,000              $20,000                 $18,000                     $18,000
                                                                                                                                    Sammy Rabbit’s Column for Kids . . . . . . 4
      Term                    36 Months            36 Months               36 Months                   60 Months
      Interest rate           0% APR               3.99% APR*              3.99% APR*                  4.49% APR*                   Important Dates
      Payment                 $555                 $590                    $535                        $335
                                                                                                                                    Thursday, April 15, 2010– Last Day to
                                                                                                                                        Open or Contribute to a 2009 IRA

Rely on PFCU Auto Loans as Low as 3.99% APR!                                                                                        Tuesday, April 27, 5:30 pm–
                                                                                                                                        Annual Meeting (See page 2)
As you can see, a PFCU loan option with extended terms and/or a rebate may offer a
                                                                                                                                    Monday, May 31
better deal than “0 %” financing. Use the chart above as a guide you can take to the
                                                                                                                                       Closed for Memorial Day
dealership, or consult a PFCU loan officer for more information.
                                                                                                                                    Monday, July 5–
* APR = Annual Percentage Rate. 3.99% APR is the best rate available for terms of 36 months or less and includes 1% discount for
automatic payments from a PFCU checking account. Individual rates may vary. Subject to credit approval.                                Closed for Independence Day
2


                                                          O O O O O

                                                              Five-Star Bauer Award...
                                                                    The Crown on Our
                                                                75th Anniversary Year!
                                                                A Message from Your CEO, Ron Berry

                                                           ince Pasadena Federal Credit Union was founded in September,1935, we have
    Don’t Take the Bait:
           Beware of the
                                                    S      focused our operations on providing a safe place for members to borrow and
                                                           save money. During the 75 years that have ensued, PFCU has not only become
                                                    a secure and convenient financial family for our members: We also have become a
        Latest Online Scam!                         trusted community partner, supporting local members, organizations and events.

          riminals are now using Internet           Today, we are the credit union of choice for over 100 Select Employer Groups

    C     technology to steal your
          identity and your money. Their
    latest scam works like this:
                                                    who recognize the value of offering multi-faceted PFCU membership benefits to
                                                    their employees, members and volunteers. With everything from small, family-
                                                    owned businesses to large corporations like Jacobs Engineering and respected
    n You receive an email that claims to
                                                    organizations like the 35,000 member Girl Scouts of Greater Los Angeles and
    be from PFCU, your bank or credit card
    company, asking you to update your              other local non-profits, PFCU has gained recognition as a financial stronghold.
    account information or passwords.               Bauer Financial Group, an independent firm which rates financial institutions, gave
    n   The email will direct you to click a        us Five Stars (their highest rating). This prestigious award crowns 75 years of
    link to a website. It will look “legitimate:”
                                                    dedication to providing the safe and secure financial home our members deserve.
    But instead, it’s a fake website designed
    to steal your financial information!            In addition, creditcardconnection.com, touted by Suze Orman, the Huffington Post
                                                    and others, placed our VISA™ Cards on the Dean’s List and also gave us Five Stars
    Don’t take the bait... fight back with
                                                    (again, highest rating). In this, our Diamond Anniversary year, we are clearly the
    these tips:
                                                    diamond standard even among credit unions.
    n   Copy PFCU’s URL address, i,e,,
    www.pfcu.org and place it in your               However, your Credit Union does not operate to win awards. We operate to serve
    “favorites” or “bookmark” list. Then            YOU, our valued member-owners, and to provide a financial environment in which
    use this convenient link when you               you can place your full faith and trust. As we prepare to celebrate our 75th
    want to visit us, instead of clicking the
    links in an unverified email.
                                                    Anniversary Annual Meeting, we thank each and every member for your support.
                                                    You are the reason why we succeed!
    n  NEVER reveal your personal
    account information via email or a
    phone call which you have not initiated.
    PFCU will not ask you to do this.
                                                      Annual Meeting Is Tuesday, April 27th
    n   If you think you are an Internet                                       All members are invited to attend the 75th Anniversary
    scam victim, contact the Internet Crime                                        Annual Meeting of Pasadena Federal Credit Union,
    Complaint Center at http://www.ic3.gov/                                          Tuesday, April 27, 2010, at 5:30 p.m. in our lobby.
    (a partnership between the FBI and the
    National White Collar Crime Center)                                                 There will be door prizes, refreshments,
    Be Aware and Protect Your Personal
                                                                                    and an opportunity to socialize with fellow
    Information. Remember, PFCU will                                             member-owners. Please mark your calendars
    never ask you to reveal your account                                      and plan to attend this special, anniversary event!
    or financial information. We already
    have it, and keep it safe and secure!
                                                                                        How “Reg CC” Affects
Online Tools                                                                            Your Check Deposits
for Everyday                                                                            A Federal law known as “Regulation CC”
                                                                                        will affect the way your check deposits are
    Finances                                                                            processed. Effective immediately, the
                                                                                        Federal Reserve Bank has consolidated its
                                                                                        check-processing infrastructure into a
          hen it comes to keeping our finances in

 W        good working order, we can use all the
          help we can get... that’s why PFCU offers an
 online “toolbox” of services to help out:
                                                                                        single check-processing region located in
                                                                                        Cleveland, Ohio. The immediate effect of
                                                                                        this consolidation is that, in most cases,
                                                                                        your funds will be available on checks two
                                                                                        business days following the date of deposit.
FREE Debt in Focus
This interactive tool can provide a helpful overview of your financial status and       There are some exceptions to the standard
empower you to improve it. Just visit www.pfcu.org and click the “Debt in               funds availability policy. These include:
Focus” link near the top of the page. It will direct you to answer a few questions
                                                                                        n   A hold of one additional business day can
about your income and current debts. Then, a simple financial analysis will
                                                                                            be applied to cashier’s, teller’s, certified
provide: Your debt to income ratios; debt payment schedules; and suggested
                                                                                            and “on us” checks otherwise subject to
personal action strategies to move your finances forward. Debt in Focus is safe
                                                                                            next-day availability
and completely anonymous. The data used to analyze your income and current
debts cannot be used to identify you. Try this helpful, FREE tool today!                n   A hold of five additional business days can
                                                                                            be applied to checks subject to second
Credit Counseling                                                                           business day availability
For personalized, one-on-one assistance, get free and low-cost help from National
                                                                                        n   A hold of five additional business days can
Founder of Credit Counseling trained, certified counselor who can: Advise you on
                                                                                            be applied to checks deposited in non-
managing your money; offer solutions to your current financial problems; develop a
                                                                                            proprietary ATMs
personalized plan to help you prevent future difficulties; and more. To access Credit
Counseling, visit our website and use the pulldown menu for “Tools.”                    n   A hold of up to nine business days may be
                                                                                            applied to checks deposited in new
“Help You Thrive”                                                                           accounts
This service provides on-the-spot answers to questions about your everyday              n    Additional “hold” days can be applied to
finances... from calculating the cost of operating a car to safety tips for shopping        large deposits, re-deposited checks,
online and more. Just visit our website and use the pulldown menu for “Tools.”              repeated overdrafts and other emergency
                                                                                            conditions
Calculators
Also available through our pulldown menu for “Tools” is a complete range of             We reserve the right to place holds on
calculators... everything from how much you can afford for mortgage payments to         checks deposited. If we do not notify you
auto loan payments to savings and retirement calculators. Check it out!                 of a hold at the time of deposit a written
                                                                                        notice will be mailed to you the following
                                                                                        business day.
                                                      “Go Green” by changing
                                                      from paper to electronic
                                                        statements this April.
                                                     PFCU will plant a tree on
                  April is                          Arbor Day, April 30, for every
                E-Statement                           member who signs up...
                                                      and together we’ll save
                  Month!                                time, money and the
                                                            environment!
                                                                 What is
                                                             “Compound”
                                                             Money? Ask
                                                           Sammy Rabbit!
  Members’ Resource
is published by Pasadena Federal Credit Union
                                                                         ime to Spring Our Savings Forward:                          When we sow savings, our choices,
   on recycled paper, using soy-based inks.
PASADENA FEDERAL CREDIT UNION
1038 South Fair Oaks Avenue
Pasadena, CA 91105
Mailing Address: P.O. Box 7132
                                                                T        Compound = Grow ⇒ Multiply ⇒
                                                                         Increase ⇒ Expand ⇒ Accrue

                                                                Hello Friends!
                                                                                                                                     freedom, and security grow.
                                                                                                                                     So with that being said, spring your
                                                                                                                                     savings ahead! Do your part or the
Pasadena, CA 91109-7132
Hours: Monday - Wednesday 8:00 am - 5:00 pm                                                                                          compounding will never start.
                                                                Spring is in the air and things are
       Thursday 9:00 am - 5:00 pm
       Friday 9:00 am - 6:00 pm                                 blossoming everywhere. It is especially                              Special Saving and Money Words
       Saturday & Sunday Closed
                                                                grand to see things multiply and expand.                             Savings or Principal– This is money we
ATM Locations                                                                                                                        put away to use later
                                                                Even things that don't spring from the
Pasadena Federal Credit Union
1038 South Fair Oaks Avenue (24/7 access)                       ground are fun to watch compound. Yes,                               Interest or Simple Interest– Extra money
Deposits accepted at this machine
                                                                money likes to grow just like flowers do.                            we earn and receive when we choose to
Pasadena Police Department
207 North Garfield Avenue (24/7 access)                         And that’s exactly what money & regular                              save. This money is ours to keep in
Deposits accepted at this machine                                                                                                    addition to our savings.
                                                                savings will do – grow and accrue – from
Pasadena City Hall
100 North Garfield Avenue (business hours only)                 little amounts to large amounts that are                             Compound Interest – Extra special
Art Center College of Design                                    exciting to count.                                                   "amazing money" our interest earns that
1000 Lida Street (business hours only)
                                                                                                                                     gets money and savings to grow fast over
Jacobs Engineering Group–Cypress                                Imagine the thrill you will feel seeing your                         long periods of time. This money is also
5757 Plaza Drive, # 100 (business hours only)
Cypress, CA 90630                                               dimes turn into dollar bills as surely they                          ours to keep and is in addition to our
And Fee-Free ATM access at CO-OP ATMs                           will. That will happen in time, dime after                           savings and our interest.
www.co-opnetwork.org
Bank of the West (24/7 access - fee free)
                                                                dime. There's the money we put in to
www.bankofthewest.com                                           save... and the interest it earns. That's                            I know you can do it. Now, go get to it!
CONTACT US:                                                     how growing and compounding begins.                                                            Your friend,
626/ 799-0882 800/ 445-PFCU Toll-Free
Telephone Teller, Ext. 1                                        But that's not where it ends. That's
E-Mail                    pfcu@pfcu.org                         where it starts to ascend. And what an
Website                   www.pfcu.org                          amazing surprise right before your eyes,
VISA Credit Cards         www.ezcardinfo.com
                                                                as you see your savings rise and rise.
BOARD OF DIRECTORS
H. Crusberg, Jr., Chair
                                                                That will happen when your interest
D. Hoffman, Vice Chair                                          starts to earn interest of its own and
R. Bicker, Secretary/Treasurer
M. Korpal, Supervisory Committee Chair
                                                                when that begins the compounding
J. Wynn Peck, Director                                          really kicks in.
B. George, Director
R. Derderian, Director                                      Learn more about Sammy and his mission to help kids get in the habit of saving money and make dreams come true at www.itsahabit.com
B. Weitkamp, Director Emeritus
H. Dean, Director Emeritus
SUPERVISORY COMMITTEE
M. Korpal, Chair
M. Broomfield
                                                                    Skate into Summer... with a Special Party!
C. Hany
                                                                    PFCU is planning a special Summer event for our young members
PRESIDENT/CEO
Ron Berry                                                             and their families... a roller skating party to benefit Rosemary
Your savings are insured up to $500,000 through a
combination of federal insurance by the National Credit              Children’s Services! The event will be held in late July, and will
Union Administration (NCUA), a U. S. Government Agency
and private insurance by American Share Insurance (ASI).            include fun activities, refreshments and more... watch for details!

								
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