Now Is The Best Time to Buy a New by fio14524

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									                     MoneyWise
  OPERATING ENGINEERS LOCAL UNION NO. 3 FEDERAL CREDIT UNION NEWSLETTER
                                                                                                                  July 2008




                 UNION Strength • UNION Purpose • UNION Pride

Now Is The Best Time to Buy a New or Late Model Used Car or Truck
     .... And The Best FINANCING Is Still Available at Your Credit Union!
Figuring out your next car or truck purchase can be exciting and     long, 52 weeks a year! They know the car business backward and
a lot of fun. Checking out the different models, deciding on a                                             forward, in and out. They
color, the right accessories, the test drives. But, once you’ve                                            know pricing and where
found the right car or truck, the fun usually stops and the stress                                         the discounts, rebates
and strain begin. Haggling with car sales people, finding the                                              and special offers are
exact car you want, bouncing from dealer to dealer. How do you                                             available and when. They
know you’re getting the best deal and discounts you deserve?                                               work for you!
Well, here’s a little inside information that might help you                                                 Try this. Once you’ve
understand how car dealerships work. It’s called profitability!                                              figured out the car or
What they know and you don’t. The Manufacturers Suggested                                                    truck you want, new or
Retail Price (MSRP) includes a healthy profit for dealerships and                                            used, and you’ve been
all the personnel involved in a car sale.                                                                    pre-approved by the
                                                                                                             Credit Union, let our
~ The sales person collects 20 to 25 percent of the profit.
                                                                                                             Member Advantage Plus
~ The finance manager makes 30 –35 percent of the profit.                                                    Car Buying Service do
                                                                                                             the haggling for you.
~ And the sales manager gets 10-20 percent of everything sold.
                                                                                                              Think about it! You
So, the folks working for the dealership have little incentive to                                             certainly have nothing to
save you money and more incentive to sell you what’s on the lot.                                              lose. Plus these folks are
Their motives are profit dollars, plain and simple.                                                           pros. They know where to
So, if the dealership isn’t looking out for you, who is?             find exactly what you want, at a price you want to pay! (They’ll
                                                                     even help you get rid of your old car!) Give them a call toll free,
Well, that’s where OEFCU’s Member Advantage Plus Car and             800 326-9552.
Truck Buying Service comes in. That’s all these folks do all day



                                        Fun In The Sun, It’s Time to Really Enjoy Summer!
                                         If weekends on the lake or cruising cross country sound like your
                                         ideal vacation, then OEFCU has some ideal financing options for you.
                                         Boat and RV loans from your union credit union offer great rates,
                                         flexible terms and, of course, OEFCU’s excellent member service.

                                         Call 800-877-4444, or apply online at www.oefcu.org
                   Pump Shock? Get More Mileage Out of Your Gas Guzzler
Gas prices keep climbing, and with every dollar you pump         use, stash it in the garage! If you need to buy tires, stay with
into your tank it’s less money you have for everything else.     the original profile and away from the big wide “kid’s tires”
Ready to do something about it? Well, the first thing to         and chrome rims. It takes much more energy to keep them
remember is you’re not alone. A lot of folks are stuck with                                                            ,
                                                                 rolling and you‘re paying for a “fashion statement” period.
SUVs and trucks and are lucky if they squeeze 12 miles to
the gallon out of those gas tanks!                               Air conditioning … if it’s hot (80 degrees or better) sure,
                                                                 use it. But if you just want fresh air, roll down the windows.
What to do, what to do?                                          Air conditioning puts a big drain on mileage.
If you’re still making payments on “your gas station’s best
buddy,” you can either live with it (with a few modifications    If you’re in a position to buy something new, land yourself
to your lifestyle), or attempt to unload it. But, if you think   a “mileage magician!” For example, the Ford Focus gets
you’re going to get out from under one of these gas              over 35 miles per gallon. If you need a truck, take a look at
guzzlers with your shirt, best think again. Dealers don’t        a Ford Ranger 4. It’ll get you 26-28 mpg all day long, and
want them and private parties are trying to unload them,         still is easy on payments.
just like you!
                                                                                            What about “Hybrids”?
Now let’s get to options.                                                                   Right now manufacturers are
If your car or truck is paid for, you just                                                  getting some pretty steep
might want to park it and buy your-                                                         premiums for hybrid cars and
self a little used Ford Escort (32 mpg)                                                     smaller SUVs because of low
to help ease your pump pain and get                                                         production capabilities and lack
you back and forth to work. Save                                                            of sales in their former big profit
driving the “Big Dog” for the week-                                                         transportation … pickup trucks
ends! Meantime, think of it this way,                                                       and SUVs! So, if you plan to keep
the person next to you on the                                                               a car or truck for 9 or 10 years,
freeway really couldn’t care less what                                                      hybrids make dollar sense. If not,
you’re driving ... they’ve got the same                                                     more than likely you’re better off
problem!                                                                                    with a 4 cylinder “gas” car or
                                                                                            truck. Bottom line, sit down and
Here’s another thought: if that                                                             do the math and see how you
guzzler’s got a lot of miles on it,                                                         come out. Or call our FREE
donate it to your favorite charity and                                                      Member Advantage Plus Car &
use it as a tax write off!                                                                  Truck Buying Service, 800-326-
                                                                                            9552.
If you’re still making payments and
you can’t take another car in your                                                             Financing a New, Better Mile-
driveway, let’s try a couple of “mile                                                          age Car or Truck
stretchers” and see if it doesn’t help.                                                     First off, car dealers don’t make
                                                                 money selling cars, they make big profits financing them.
Invest in a tire pressure gauge and run the tires full up! 35    When you “take the bait” on the “0%” thing most times you
lbs plus for most cars (check the driver’s door sticker to       lose your discounts and your selection becomes limited
figure out the maximum tire pressure and check it weekly).       real quick. If you’d like to see the real truth about 0%
Then treat yourself, and “the guzzler” to a brand new air        financing and how it really works, go to www.oefcu.org and
filter and set of plugs (plug wires and oxygen sensor too, if    check out the video that explains it all in straight forward
you can afford them). It’s something you can do in the           dollars and cents!
privacy of your own driveway and in most cases will pick
you up another 4 or 5 miles per gallon.                          Secondly, Consumer Reports states that if you’re looking
                                                                 for a car loan, the best place to go is your credit union.
Another real no-brainer when you’re on the open road is to       Why? Well unlike auto dealerships, your credit union
slow down and drive the limit. 65 miles per hour is plenty.      operates under a “not-for-profit” charter. You get better
And the difference between 65 and 75 is about 5 mpg! The         rates and better terms because you’re a credit union
faster you go, the more air you push out of your way. That’s     member. Plus, if you’re buying a late model used car or
what kills mileage… pushing air! And get that junk out of        truck, you have the option to purchase a Breakdown
the trunk! The more you’re packing, the more weight you          Protection Plan to insure that if there is a failure, be it
have to pull. If you’ve got a third seat in that SUV you never   engine, transmission, etc., you’re covered.
Getting Credit Card Debt Help Is Easier Than You Think
Where do you turn for help if credit card debt becomes                 one monthly payment to Balance, who in turn pays the
unmanageable? You could try to deal with it yourself, or               creditors. Debt repayment plans are beneficial because
you could ask for confidential assistance from a group of              most creditors reduce or even eliminate interest rates and
experts made available to you, free of charge, as a member             penalty fees - repaying the debt with less money going
of OEFCU.                                                              towards finance charges and more to the principle.
                                                                       Payments remain consistent, and as each debt is paid off,
Balance Financial Wellness Credit Counseling is a special-
                                                                       the remaining creditors are paid more, making it a very
ized form of personal finance assistance. In a credit coun-
                                                                       efficient system. And because it is a single monthly
seling session, the cause - not just
                                                                                                 payment rather then several
the effect - of financial troubles is
                                                                                                  spread out over the month,
explored and discussed. CU
                                                                                                  clients often find money man-
Members get a clearer picture of
                                                                                                  agement easy.
their particular strengths and
more importantly their                                                                             Sadly, many people don’t use
challenges, and acquire the tools                                                                  the assistance available to them.
they need to make conscious and                                                                    By doing so they aren’t solving
positive money decisions.                                                                          the root issue of debt, end up
                                                                                                   paying sky-high interest rates,
Balance Credit Counselors are
                                                                                                   heavy fees, serious credit
trained professionals, experi-
                                                                                                   damage, legal action - even
enced with helping a wide
                                                                                                   bankruptcy.
spectrum of people. Sensitive to
the unique circumstances and                                                                        The emotional consequences of
feelings that those struggling                                                                      unmanageable debt are often
with debt have, counselors                                                                          equally as severe. Depression,
recognize there is no single                                                                        anger, stress, and anxiety are
answer or plan for all clients. The                                                                 typical among those who have
focus is on the individual and his                                                                 money problems, often resulting
or her personal needs and situation.                                                            in sleeplessness, loss of productiv-
Working in conjunction with the member, a counselor                    ity at work, and marital and familial conflicts. For some, the
conducts a thorough financial analysis. After examining                sense of shame and guilt can be overwhelming. People
assets, income, spending habits, and debt, a workable                  with financial problems believing they alone have these
action plan is designed, outlining the steps he or she needs           problems.
to take to achieve short and long-term financial objectives.
                                                                       You are not alone. Let Balance Financial Wellness be part of
For some members, a debt repayment plan may be an                      your solution. Call us today in complete confidence, at
ideal way to pay unsecured debts. Such plans require a                 absolutely no cost to you as an OEFCU member,
member to suspend the use of their credit lines and make               888-456-2227.


Make Sure Your New Car or Truck ... AND YOUR LOAN, Are Completely Protected
When you buy a new or used car or truck, of course you purchase auto insurance. You need to protect your investment, right? Well, you
might not be as protected as you’d like to think. Most insurance companies don’t cover the entire cost of your car or truck loan.
They’ll only cover the actual cash value of your vehicle determined by Blue Book Value. If your car is in an accident and deemed a total
loss or stolen in the first few years you own it, you could be left owing thousands of
dollars on a car you can’t drive!
This is precisely why we recommend GAP (Guaranteed Auto Protection) on every
vehicle financed through our Credit Union. GAP covers the difference between
what insurance pays on a total loss claim and what you owe on your loan. It’s as
simple as that. For less than $3 a month on a 72-month loan, you can be sure
you’re never stuck paying for a car you can’t drive.
Already have an auto loan, but didn’t get GAP? No worries! It’s never too late to
add GAP coverage. So long as your loan has a balance, you can add GAP.
And, GAP coverage isn’t just for cars and trucks. You can get GAP coverage on
motorcycles, RVs, boats, ATVs, and more! Pretty much anything with an engine can
be insured with GAP. For pennies a day, GAP coverage is not only cheap, it’s really
a no brainer! Call 800-877-4444 for more information about GAP coverage.
   For Member Service
Please Call 800-877-4444       How Can OEFCU eBanking and eStatements Save This Forest?
                                                                                 Here’s a way to reduce paper waste, and save postage
  Branch Offices                                                                  and printing ... Convert to eStatements that come to
  CALIFORNIA                                                                      you electronically via your email address! If you need a
  • Alameda, CA                                                                   paper statement, just hit print! We also archive 12
  1620 South Loop Rd.
                                                                                  months of eStatements for easy access and review any
  • Auburn, CA
  1915 Grass Valley Hwy.                                                          time, day or night.
  • Burlingame, CA                                                                And while you’re at it, consider using OEFCU’s 24/7
  828 Mahler Road                                                                 online eBranch for ALL your banking needs.
  • Dublin, CA
  7300 Amador Plaza Rd.                                                           Use online 24/7 eBill Paying to reduce paper waste,
  • Eureka, CA                                                                    postage costs and late fees, and transfer funds from
  1213 5th Street                                                                 one account to another with the push of a button.
  • Fairfield, CA
  2540 N. Watney Way
                                                                                  How do you help? Simply pick up the phone and call
  • Fresno, CA
  4860 N. Cedar Ave.
                                                                                  us toll free @ 800-877-4444, ask for Member Services
  • Modesto, CA
                                                                                  and tell them you’d like to convert to eStatements or
  538 McHenry Ave.                                                                start using OEFCU’s eBanking System. It’s just that easy!
  • Morgan Hill, CA
  325 Digital Drive
  • Redding, CA
  20308 Engineers Lane
                                OE3 Semi Annual Meeting
  • Rohnert Park, CA
  6225 State Farm Drive
                                52” HDTV Drawing Winner
  • Sacramento, CA (West)      This is our 52“ Big Screen TV OE Credit Union Grand Prize
  4044 N. Freeway Blvd.
                               drawing winner, Troy Reese of Vacaville. Troy attended the
  • Sacramento, CA (South)
  9806 Old Winery Place        March 30th Semi Annual Meeting on the USS Hornet in
  • San Jose, CA               Alameda, CA. He is an OE brother from District 4. Alongside
  798 N. First Street          Troy is Lydia Leversee, OEFCU Branch Manager Fairfield, CA
  • Stockton, CA               and Ronald Poff, VP Business Development OEFCU.
  1916 N. Broadway
  • Stockton, CA (West)
  1818 Grand Canal Blvd.
  • Yuba City, CA
  468 Century Park Drive
                               What’s In a Name?
                               Guess which birth name was given to which celebrity. Answers below, upside down.
  NEVADA
  • Elko, Nevada                1. Which celebrated blues artist was born McKinley      5. Which handsome screen personality was born Roy
  1720 Mountain City Hwy.       Morganfield?                                            Harold Scherer, Jr.?
  • Reno, NV                        A. Lightning Hopkins                                    A. James Garner
  1290 Corporate Blvd.
                                    B. Big Bill Broonzy                                     B. Rock Hudson
  HAWAII                            C. B B King                                             C. Yves Montand
  • Honolulu, HI                    D. Muddy Waters                                         D. Tony Curtis
  1111 Dillingham Blvd.         2. Which comedian was born Arthur Stanley Jefferson?    6. Which Grammy and Emmy Award winning singer
  OREGON                           A. Rodney Dangerfield                                was born Henry Deutschendorf, Jr.?
  • Gladstone, OR                   B. George Burns                                         A. Bobby Vinton
  805 E. Berkeley Street            C. Stan Laurel                                          B. Conway Twitty
  UTAH                              D. Woody Allen                                          C. John Denver
  • Salt Lake City, UT          3. Which comedian was given the name Joseph                 D. Marty Robbins
  1958 W. North Temple          Kubelsky at birth?                                      7. Which actress was born Shirley Schrift?
  OE #3 Federal Credit Union        A. Jack Benny                                           A. Mae West
  Administrative Offices            B. Milton Berle                                         B. Barbara Stanwyck
  250 N. Canyons Pkwy
                                    C. Red Skelton                                          C. Tippi Hedron
  Livermore, California
                                    D. Redd Foxx                                            D. Shelly Winters
                                4. Which radio personality was born with the name       8. Which noted horror film actor was born William
  OEFCU will be closed
                                Robert Smith?                                           Henry Pratt?
  Friday, July 4, 2008
                                    A. Wolfman Jack                                         A. Boris Karloff
                                    B. Alan Freed                                           B. Vincent Price
                                    C. Wink Martindale                                      C.Peter Lorre
                                    D. Murray the K                                         D. Bela Lugosi
                                                                                                       1. D; 2. C; 3. A; 4. A; 5. B; 6. C; 7. D; 8. A
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