t h e J U L Y 2 0 0 8 e d i t i o n SirenNews state of the Credit Union In today’s tough economic climate members might be feeling some additional financial pressures associated with higher food and gas prices, declining home values, and the overall state of the economy. The ongoing prominence of these topics in the news have generated concern amongst many members, who should rest-assured that SF Fire Credit Union is in a very strong position to weather this current economic downturn. no “CRediT CRUnCh” & Ready To meeT yoUR boRRowing needs Union having one of the lowest delinquency and loan loss rates of While some mortgage companies have restricted or stopped all financial institutions. We do expect some losses given the state lending, SF Fire Credit Union is ready and able to assist if you’re of the economy, but are in a strong position – with over 12% in looking to purchase or refinance a home. capital reserves – to see us through such occurrences. no “sUb-pRime” lending pRaCTiCes deposiTs ThaT aRe safe & seCURe SF Fire Credit Union never entered into the sub-prime market, SF Fire Credit Union’s deposits are privately insured by American and has always operated using exceptional loan underwriting Share Insurance, which protects each member’s individual deposit practices. accounts (checking, savings, money markets, term certificates, etc) up to $500,000. American Share Insurance is an exception- limiTed loan losses & delinqUenCies ally managed company with strong financial standing, taking Sound underwriting practices, a financially strong field-of-mem- great care in the auditing of their insured credit union to safe- bership, and high concentration of real estate loans in San Fran- guard members’ deposits and the insurance fund. More informa- cisco, San Mateo and Marin Counties (which have seen little or tion can be found at our website or by visiting American Share no decline in property value) all play a part in SF Fire Credit Insurance at www.americanshare.com. PersoNAl FiNANCe get back on track experts disagree on the outlook for the American economy, but even the most optimistic acknowledge some possibility of a recession this year. in times like these, it’s important to keep your finances in order. here are some resources that can help you do that — offered free of charge from sF Fire Credit Union. Free & Confidential Free Quarterly We understand that there are cir- Financial Counseling FICO Credit Scores cumstances that may cause mem- bers to fall behind on their monthly the bAlANCe Financial Fitness Program by signing up to receive your FiCo Credit payments. if you have found your- offers no-cost money management coun- score each quarter, you’ll stay on top of self in this situation, or are con- seling and debt management to mem- your credit situation. regularly monitor- cerned that you may be headed in bers of sF Fire Credit Union. meet with ing your credit score allows you to esti- that direction, contact us. We may a certified counselor to create a work- mate your borrowing capabilities as well be able to offer solutions to help able spending and savings plan or to as helps identify possible identity theft. you through a difficult time. discover options for repaying debt by calling (888) 456-2227. l o W - r At e h o m e l o A N s First mortgage options Whether you’re in the market to purchase a new property, it’s always a good to understand the choices that may present themselves. 3/1 A d j U S TA B L e 5 /1 A d j U S TA B L e 15 - Y e A R F I x e d 30-YeAR FIxed ConForming ConForming ConForming ConForming Zero PointS Zero PointS Zero PointS Zero PointS 5. 25% 5.625% 6. 25% 6.375% 125 5.625 125 6.375 (5.337% AnnuAl PercentAge rAte) 2 (5.720% AnnuAl PercentAge rAte) 2 (6.189% AnnuAl PercentAge rAte) 2 (6.411% AnnuAl PercentAge rAte) 2 Fee inClUdeS O N e F L AT F e e › Appraisal › Processing Coming soon — enhanced First-time › Credit report › tax Service home buying $575 1 › Underwriting › Wire transfer We’re looking for ways to help members become › document › Flood Zone Preparation Certification homeowners. First-mortgage products that require lower › Appraisal** › Courier / down payments and offer attractive rates are coming review Fed ex soon! Get Answers to All Your Mortgage Questions Contact a Real Estate expert by calling (888) 499-FIRE (3473) 1. California Properties only. Appraisal applies to single family residences. 2. Rates are effective as on 06/16/2008 and are based on credit worthiness. All rates, terms and conditions subject to change without notice. Conforming loan limits are determined by property location and property loan-to-value of 80% or less. Other restrictions may apply. s F F i r e C r e D i t U N i o N P l At i N U m V i s A ™ A better Platinum Card RATeS AS L Ow A S 6.5% 1 Better Rewards 2 Fewer Fees » Unrestricted travel » No Annual Fee » Cash back » No balance transfer Fees A n n U A l P e r C e n tA g e r At e » gift Cards for Popoular » No Cash Advance Fees retailers » No Foreign Currency exchange Fees Plus... link your Visa card to your sF Fire Credit Union checking account as a Free source of overdraft protection.3 For more informaton or to apply, call us at (888) 499-Fire(3473), stop by one of our branches or visit us online atwww.sffirecu.org. 1.Annual Percentage Rate based on credit worthiness. All rates, terms and conditions subject to change without notice. 2. Not all SF Fire Credit Union Visa credit cards are enrolled in a rewards program. 3. To add your Visa as an Overdraft Protection source, call (888) 499-FIRE (3473) or access your account online and click “enroll” in the Visa credit cards banner. CertiFieD Pre-oWNeD VersUs NeW sensible Car buying in a Down economy When it comes to purchasing a vehicle, many people prefer to buy used as opposed to new. the greatest depreciation occurs in a car’s first two years, when its value can drop up to 60 percent of its original sticker price. by buying a used car, you’re allowing the original owner to incur the largest depreciation hit. before a vehicle can receive the “Certified” distinc- tion, the manufacturer conducts what is known as a “100 point” inspection to determine if the vehicle is worthy of the title. because of this, many certi- fied pre-owned vehicles feature the same or similar dealership and manufacturer benefits that new autos receive — in addition to a lower annual expense. let’s take a look at the overall benefits and total cost involved in purchasing a “Certified Pre- owned” vehicle as opposed to a new one. vehicle Price Warranty loan aPr monthly Payment annual loan expense annual Savings NEW: 2008 Honda Civic EX $19,510 Bumper to Bumper 3/36,000 4.99% $368.09 $4,417.08 & Powertrain 5/60,000 Certified Pre-Owned: 2006 Honda Civic EX $16,991 Bumper to Bumper 4/48,000 4.99% $320.56 $3,846.72 $570.36 & Powertrain 7/100,000 Source: http://automobiles.honda.com/ g r e At t i m e t o b U y ! buying an Auto has LOAN RATeS AS LOw AS Never been easier! research, locate and even purchase your vehicle online by visiting the Auto buying Center at www.sffirecu.org. 9 4. 9% * A n n U A L P e r C e n tA g e r At e FOR UP TO 72 MONTHS! » Compare Models » Check the Value of Head-to-Head Your Trade-In » Negotiate the Best Deals with Online Tools » Locate Dealers Commit- ted to Giving You the Best Price * Rate reflects a 0.25% discount on loans that have authorized an automated electronic payment method. Terms and rates are based on approved credit and amount financed. All rats and offers subject to change without notice. S F F i r e C r e d i t U n i o n Firefighters Corner I M P O R TA N T I N F O R M AT I O N NotiCe to members Main Office 3201 California Street San Francisco, CA 94118 -1903 ThingS To remember anD miSTakeS To avoiD in volaTile markeTS Stonestown Branch 565 Buckingham Way San Francisco, CA 94132-1904 RemembeR ThaT Things go Up and Things go down In planning for a diversified portfolio we anticipate higher levels of volatility and plan for Branch Hours them accordingly. This is used to potentially reduce losses that may occur during market Monday - Friday 8:30 a.m. - 5:00 p.m. fluctuations. It is always important to ensure that your portfolio is properly diversified. Saturday 8:30 a.m. - 3:00 p.m. don’T TRy To Time The maRkeT Call Center and Live Help Hours Trying to sell stocks before they fall and buy them again before they rise, in other words Monday - Friday 7:30 a.m. - 6:00 p.m. “market timing”, simply does not work. Studies have proven that investors often guess wrong Saturday 8:30 a.m. - 3:00 p.m. during market declines. Shortterm swings are simply too unpredictable and the best approach Telephone is to continue to own the right mix of investments during good and bad markets. (415) 674-4800 (888) 499-FIRE (3473) geT RegUlaR poRTfolio Reviews Apply for a Loan 24/7 Is your portfolio as diversified as you think it is? An advisor can help you determine if your By Phone: (888) 499-FIRE (3473) portfolio or your current investments are in line with your life’s goals during these difficult Online: www.sffirecu.org times. Markets go up and down and trying to make decisions without an extensive review of Online Services at www.sffirecu.org your financial goals and existing portfolio is historically where mistakes are made. Help get • Online Banking including free Bill Payer, yourself on the right track and contact your financial advisor today. free check deposits and free Account-to- Account transfers • Current Rates • ATM Locator Nick Contact Info • Shared Branch Locator Nicholas C. Moore Phone: 415-674-4846 Email: email@example.com Credit Union Holidays Address: 3201 California Street, San Francisco, CA 94118 We will be closed on: Friday, July 4th, 2008. During Holidays, you can always access your Representatives are registered, securities are sold, and investment advisory services offered through accounts with your ATM/Debit Card, online at CUNA Brokerage Services, Inc. (CBSI), member NASD/SIPC, a registered broker/dealer and www.sffirecu.org or by calling Tellerline at: investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Nonde- posit investment and insurance products are not federally insured, involve investment risk, may (415) 674-4800 or (888) 499-FIRE (3473). lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, make securities available to members. FR050823-CEE9 SF Fire Credit Union’s Service Guarantee SF Fire Credit Union upholds a tradition of F i r e F i g h t e r o ly m P i C s excellence and strives to provide exceptional service. We guarantee courtesy, accuracy and promptness at sF Fire Credit Union is a proud sponsor of the 2008 California Firefighter all times. If we do not meet these standards in any Summer Olympics hosted by Palo Alto Fire Department. the games will way, let us know. We will apologize, correct the issue begin sunday, July 13th and continue through the end of that week, coming and credit your account $10, no questions asked. to a close Friday, July 18th. events include everything from dodgeball and bowling to surfing and soccer! For more information or to register, visit the California Firemen’s Athletic Association online at http://www.cfaa.org/ summer/index2.htm or call them at (714) 775-1990. San Francisco Fire Department Softball Playoffs On June 16th, a group of San Francisco Firefighters began the climb to Mt. 10 teams vied for 1st place at this year’s SFFD Kilimanjaro in Africa to raise funds and Softball Playoffs on June 17th at Jackson Park in San awareness of Post Traumatic Stress Disor- Francisco. The Credit Union was there for each game der (PTSD) in 1st Responders that suffer delivering snacks and water for the participants. from this disorder. Make a donation at <http://www. Congratulations to the winning team! firstgiving.com/climbersfor1stresponders>.