Proud! Local Presenting Co-Sponsor Komen NC Triad Race for the Cure® Save when you buy a home page one YOUR ALLEGACY NEWSLETTER 2nd Quarter - 2010 Manage debt close to home page two THREE WAYS TO SAvE mONEY FinanceWorks WHEN BUYING A HOmE is here! page three Buying a home is one of the biggest purchases you’ll make. So we want to make sure you get the biggest savings possible. And now, Allegacy has three ways you can save on the purchase of a new home if you buy, or are under contract , on or before Paying for April 30, 2010. Smart homebuyers are buying – and saving – now! college page four save when you borrow save when you file At Allegacy, you’ll find competitive The Worker, Homeownership, and Business mortgage rates. And, if you Assistance Act of 2009 has expanded the already have a home in mind, you can tax credit of up to $8,000 for qualified lock it in for up to 55 days to avoid first-time homebuyers to include up to rising interest rates.You’ll also find $6,500 for qualified move-up/repeat one of the lowest origination homebuyers purchasing a principal Save when you buy or sell a home fees around (which can save residence. And the deadline has been with Allegacy Realty's rebate! you thousands on the total cost of extended; the tax credit now applies your mortgage), as well as several to sales occurring on or before HOME REBATE loan options to fit your needs, April 30, 2010 as long as they SALE PRICE TO MEMBER* including our new FHA and VA close by June 30, 2010.** loans! Making sure you pay less $100,000 $600.00 on rates and closing costs – that’s Three big savings on your one biggest $150,000 $900.00 one of the ways Allegacy helps you purchase is one reason why smart homebuyers are shopping at Allegacy. $200,000 $1,200.00 save on your biggest purchase. To find out how Allegacy gives you $250,000 $1,500.00 save money when you buy more ways to save on a new home now and all year long, contact us. $300,000 $1,800.00 Allegacy Realty offers an exciting rebate program* for both buyers and sellers when using one of our Call 336.774.3400 or visit qualified agents. Calculate your AllegacyFCU.org for more info potential savings today by visiting AllegacyRealty.com. We’ll also save you time with helpful home searching Visit AllegacyRealty.com or call tools and save you hassle by making 336.774.3700 to learn more the process simple and easy. Amounts vary according to agent commission rates. Examples shown are based on 3% commission. Terms and conditions apply. * AllegacyFCU.org Must be an Allegacy member with qualifying services. **To find out if you qualify for a tax credit, visit IRS.gov. 6 our serviCe Promises to you, allegacy owners 1 we promise to treat you with the respect deserving of an owner 2 we promise to find ways to offer simplicity and convenience 3 we promise to take ownership of your request The solution to debt management may be the four walls you call home. home equity loans are available for up to 100% of the equity in your home at very reasonable rates Americans value family and – no When used responsibly, a home equity A home equity loan from Allegacy question – coming in a close second loan can provide much-needed funds can help you manage debt more is our home, where our children took without tapping into credit cards. effectively and responsibly. And loans their first steps. Where they’ll return, are available for up to 100% of the Some home equity loan products also all grown up, with kids of their own. equity in your home at very reasonable provide the added peace of mind of Even during the recent financial crisis, rates, which is unusual for financial Americans can still count on the equity a fixed rate. Simply put, this means institutions, especially in this economy. in their homes. For many, borrowing the monthly payment is always the against that value with a home equity same every month for the life of loan, For more information, call Member loan can help them make smarter which can range from 1-30 years. Services or visit AllegacyFCU.org. financial choices about managing debt. A Home Equity Loan is defined as ...... AMERICAN CONSUMER DEBT & EqUITy FACTS ......... a form of credit in which your home • Average per-household debt in • You can deduct interest* on up to $1 serves as collateral. That means you the U.S., not counting mortgage million when you use home equity can borrow against the equity in your debt, is about $14,500. funds to improve a first or second home to finance life’s larger expenses, like a college education and • A typical American family today home. You can deduct interest for up to emergencies such pays about $1,200 annually $100,000 when you use home equity as medical bills or in credit card interest. funds for non-home-related uses. unexpected repairs. *Some restrictions may apply. Consult a tax advisor to learn more about the savings associated with home equity loans and lines of credit. The mission of allegacy Federal Credit union is to help you make smart financial choices. Rachel Carico, Loan Interviewer, Tobaccoville Financial Center For member Services, call 336.774.3400 (Local) / 800.782.4670 (Toll-Free) To receive this newsletter online, visit allegacyFCu.org/sharelines For news & tips, follow us on Facebook/allegacy and Twitter @allegacy 4 5 6 we promise to recognize your needs and we promise to ensure we promise to express recommend innovative solutions that will the security of your our appreciation for the help you make smart financial choices financial information opportunity to serve you ask is here! Question? Email it to for those of us leading AskAllegacy@AllegacyFCU.org multitasking lifestyles, Q Is it true that I can refinance my keeping track of your A financial information auto loan to a lower rate? just got easier. Yes! And now is the perfect time to re-evaluate your current loan (even if it's FinanceWorks is a handy FREE tool from Allegacy that lets you spend less time analyzing your finances and more time doing things you love. FinanceWorks allows with another lender) and see if you can online management of over 16,000 financial institutions, so even accounts not with trade in your old auto rate for a lower one Allegacy can be viewed in one place. here at Allegacy. With just one log-in, you can connect and manage all of your financial accounts. Refinancing an auto loan is a simple Have two checking accounts, a credit card and 401(k)? No problem. FinanceWorks process that can end up saving many car can pull all of your financial data into one streamlined budget summary. Allegacy has buyers a substantial amount of money on promised to find ways to offer simplicity and convenience to you, our members, and their monthly payments and over the life we feel FinanceWorks does exactly that! of the loan. Basically, it involves getting Online budgeting through FinanceWorks will save you time and money – two things a check from your new lender, which you most of us can’t get enough of these days. With tax season upon us, FinanceWorks use to pay off the old loan. Then, you start will even link to TurboTax and create a Tax Watch report to help you begin tracking making payments to your new lender. tax-deductible expenses for next year. Just another way Allegacy is offering Q simplicity and convenience to our members. A What will it actually cost me to To get started using this fun and FREE budgeting tool, simply log-in to Allegacy refinance my auto loan? WebBanking™ and click on the FinanceWorks link. A step-by-step guide and a video demo are both available to help you get started. The fees associated with refinancing an auto loan are actually very minimal. Some people mistakenly think an origination fee Don't have WebBanking? Call Member Services today at 336.774.3400 is required. This is not true at Allegacy. The only fees you can expect to pay when refinancing your auto loan with Allegacy Maturing certificate? Help improve your returns. are a $5–10 standard transfer of lien fee Although certificate rates are low, additional options are available. If you have a and $5-75 in-state re-registration fee. certificate maturing or you're looking for other fixed-rate income alternatives, you With costs this nominal, you have nothing could benefit from a complimentary financial review with a CFS** Financial Advisor to lose. Call us at 336.774.3400 today at Allegacy Investment Group. to learn how much you could save by refinancing your auto loan with Allegacy! Call to schedule an appointment today at 336.774.3400 **Products and Services offered through CUSO Financial Services, L. P., (CFS), are: not NCUA or NCUSIF insured, not credit union guaranteed and may lose value. Investment Representatives are employees of Allegacy and registered through CFS. Allegacy is in partnership with CFS (Member FINRA/SIPC) and SEC Registered Investment Advisor. All investment products and services are offered through CUSO Financial Services, L.P. (CFS), an independent broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. As broker-dealer, CFS registers and supervises Investment Representatives employed by Allegacy. Allegacy Investment Group is a marketing name used for the department where investment products and services are provided by CFS Investment Representatives at Allegacy Financial Center locations. Allegacy is in partnership with CFS. April allegacy's annual meeting 15 Thursday APRIL 15, 2010 at 5:30 Pm Allegacy’s Westbrook Plaza Financial Center in the RJR Community Room educationalWorkshops workers' compensation April 7 at 11:00am engaging the workforce in a down economy April 20 at 11:30am Getting an education is the smart income alternative strategies choice with help from Allegacy hosted by Allegacy Investment Group** April 27 at 6:30pm Sometimes figuring out the best way to pay for college can be even more complicated than the application process. Luckily, Allegacy offers quick, simple and helpful ways to manage planning and paying for college. We can’t write your essays for you, but we can ensure that financing college will be considerably less stressful than an all-night study session. homebuying workshop If you are just starting out and looking to plan ahead, Allegacy can help establish a may 18 at 5:45pm realistic savings goal. If you already have a specific target in mind, Allegacy Financial estate planning workshop Planners can guide you down the best path toward savings and the bigger prize, a hosted by Allegacy Investment Group diploma. may 25 at 6:30pm We also offer two loans to assist with expenses related to attending college — a Student Loan and a Computer Loan. Our Student Loan allows repayment to be deferred until six months after graduation or upon departure from school† so the focus can remain on getting an education, rather than not tripping when you walk into your first lecture. College courses are challenging enough; planning and paying for college shouldn’t be. Let Allegacy take the challenge out of finding the best way to finance and save for you maintaining a life/work or your child’s education. We offer flexible college savings plans that can be tailored balance for success for every member. June 8 at 11:30am To learn more about our Student To customize a plan for you or Reserve your spot today: Loans, call 336.774.4138 today your child, call 336.774.3400 call 336.774.3400 or visit AllegacyFCU.org/workshops Annual interest payment still due while student is enrolled in classes. † 2nd Quarter 2010 SM A RT BA N K I N G fast facts fast facts Account Notices We offer competitive mortgage rates, like a Funds Availability Policy Update 30-Year Fixed Rate as low as 4.975% APR*, Effective February 27, 2010, the Federal Reserve Bank and one of the lowest origination fees in the transitioned to a single paper check processing center. market. The combined savings from both can mean This was done in response to the continued nationwide thousands of dollars off the cost of a new home! decline in check usage, as well as the rapidly increasing use of electronic check clearing methods. As a result Allegacy now offers FHA and VA Mortgage of the transition, there are no longer any checks that Loans. These new programs allow lower down are considered non-local. Allegacy’s Funds Availability payments and more financing on purchases Policy has been updated to reflect this change. The and refinances. For loan amounts above updated policy can be viewed at AllegacyFCU.org. $417,000, we offer members our Jumbo Mortgage with a very competitive rate. Non-Sufficient Fund Notices Effective April 12, 2010, we will no longer The Worker, Homeownership, and Business issue non-sufficient fund (NSF) notices. Assistance Act of 2009 has expanded the tax credit of up to $8,000 for qualified first- PINless VISA® Debit Disclosure Notice time homebuyers to include up to $6,500 Allegacy Federal Credit Union enables non-Visa debit for qualified move-up/repeat homebuyers transaction processing and does not require that all such purchasing a principal residence. And the deadline transactions be authenticated with a PIN. A non-Visa debit has been extended; the tax credit now applies transaction may occur on your Allegacy Visa debit card to sales occurring before April 30, 2010.** through Plus, Co-op Network, CU Service Centers and NYCE network. Below are examples to help you distinguish To learn more about our Mortgages, call between a Visa debit and a non-Visa debit transaction: 336.774.3400 or visit AllegacyFCU.org • To initiate a Visa debit transaction at the point of sale, the cardholder signs a receipt, provides a card number (e.g., in e-commerce or mail/telephone order environments) FinanceWorks, a FREE online tool that allows or swipes the card through a point-of-sale terminal. you to analyze, track and budget all of your financial accounts in one location, has arrived! • To initiate a non-Visa debit transaction, the cardholder Simply log-in to WebBanking and click on the enters a PIN at the point-of-sale terminal or for FinanceWorks menu option to get started. certain bill payment transactions, or provides the account number for an e-commerce or mail/ Don't have WebBanking? Call Member telephone order transaction after clearly indicating a preference to route it as a non-Visa transaction. Services today at 336.774.3400 Only Visa transactions provide zero-liability protection, and if a Rewards Program is present, a non-Visa debit transaction may not be an eligible Rewards transaction. The Visa–specific portion of your cardholder agreement does not apply to non-Visa transactions. * Annual Percentage Rate effective as of March 10, 2010. At 4.975% APR, a $100,000 loan and a 360 month term would result in a $529.21 monthly payment. 20% down payment required. ** To find out if you qualify for a tax credit, visit IRS.gov.
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