August 2005 Report Card OCTFCU Product and Service Solutions Knowing your options is often the first step in achieving your goals. We’ve provided this list The Value of of products and services just to let you know they are available at your credit union. Membership s Products Auto/Homeowner’s Insurance Auto/RV/Boat/Motorcycle Loans Credit unions are unlike any College Saver/Student Loans/529 Plans† other financial institution. Credit Cards Each Member owns an equal Debit MasterCard® share in their credit union, has Dividend-Earning Checking an equal vote in electing our Free Checking leadership, and benefits from Free Overdraft Transfer Protection earnings being returned to the Life/Earthquake/Flood Insurance Membership through lower Mortgage/Home Equity Loans loan rates, higher dividend Mutual Funds/Stocks/Bonds† rates, and low fees. Share Certificates/IRAs/Money Markets s Products for Educators Service Offers Solutions new opportunities to improve your overall Classroom Supplies Loan Your credit union exists to serve our experience with us. Computer Loan Members, thus our focus is on service and Educators Mortgage Program meeting your needs. Our service philosophy This issue of Report Card is dedicated to Paycheck Planner/Summer Saver is our biggest differentiating factor—the providing solutions for the many important areas of your financial life… Retirement Builder Plan† “bottom line” is always what’s in the best your home, your vehicle, your savings, Retirement Credits Loan interest of our Members, not what generates the most income. So whether you are buying and general personal finance. We want to Teacher Certification Loan a home, purchasing a vehicle, or opening an make managing your finances as easy as Teacher Relocation Loan IRA, we will be there for you through every possible while adding more to the Teaching Credential Loan step of the process, and you can trust that value of your Membership. we will offer solutions that benefit s Services you financially. New $15 Family Cashier’s Checks/Money Orders Participation Provides Opportunity Membership Fee Direct Deposit Our new $15 family Membership fee Free Bill Payment Your participation helps us improve our products and services. Every loan covers the whole family. For existing More than 15,000 fee-free ATMs that is funded, and every dollar on Members, your spouse and minor Online Automated 403b/457b/IRA Advisors deposit provides new resources that are children all living within the same Online Banking used to enhance the value of your household can now join OCTFCU without having to pay a Membership Online Loan Applications Membership. Our goal is to provide a full fee. New Members and their Online Self-Service Investing range of financial products and services immediate family only have to pay through eVision† that feature no or low fees, manageable one, $15 fee to start enjoying the Realtor Affinity Program terms, and competitive rates. Your satisfaction is our greatest reward, and benefits of Membership. Retirement/Investment Services† through your participation we are given Wire Transfer/Traveler’s Cheques auto Fund Your Auto Loan Online Funds are automatically deposited into your account Our online funding option allows you to receive the loan amount you need to purchase your automobile in three easy steps: 1 Log on to our online banking system at www.octfcu.org. 2 Auto Financing Rates as 4.25% low as Complete the loan application by clicking “Loan Application” under the Made Easy APR* Services menu or click on your pre-approval banner if applicable. 3 At your credit union, we are committed to offering fast, affordable auto loan Fund online. Loan proceeds will financing through great rates, low fees, and manageable terms. Plus, our be disbursed into your requested auto-buying partners and Member Insurance Services can help you find the share account. right car and obtain quality insurance coverage. A Great Loan Isn’t Autoland provides personal Hard to Find assistance by finding your perfect car, Starting with a competitive rate and a quick funding process, we’ll negotiating the price for you, and delivering it to an OCTFCU location of Autoland find a loan that works for you, and create a payment plan that fits your choice. Pre-Owned within your budget. Enterprise Car Sales offers hundreds of makes and models of quality used cars at more than 20 locations in Auto Sale s Rates as low as 4.25%APR* Saturday, August 27 Southern California. s No application or funding fees 9 a.m. to 3 p.m. s Terms up to 84 months Sneak Preview 8 a.m. to 9 a.m. s Online application and online Fullerton Autoland funding at www.octfcu.org Every Car Needs an Insurance Reality Check 626 South Euclid St. (at the 91 Fwy) Even before you buy a car, it’s wise to Satisfaction Guaranteed The Right Vehicle look into your insurance options. Our s Choose from compact to Is Within Reach online auto quote system can provide luxury cars, trucks, minivans, you with a quote within minutes. Our three auto-buying partners each and SUVs Simply visit www.octfcu.org > offer a unique service to help you find s Enjoy on-site OCTFCU financing Insurance > Auto Quote. Or, call the car of your dreams. 714/258-4000, extension 4309, Monday s No questions asked, three-day through Friday, 9 a.m. to 5 p.m. or 250-mile money back FastTrack offers more than 60 dealerships in Orange County where return policy you can purchase your vehicle and s Each vehicle comes with a 90-day, obtain on-site OCTFCU financing. 3,000-mile powertrain warranty s Most vehicles still carry the manufacturer’s original warranty *The rate shown here is the lowest available, requires a 48-month term, and reflects a 3/4 percent discount for payments made through automatic transfer from your OCTFCU Share Savings or Checking account. Offer s Test drive any vehicle does not apply to the refinance of existing OCTFCU auto loans. OCTFCU’s loan program features a range of interest rates for some of its consumer loans. A rate is based on a variety of factors, including the applicant’s s Trade-ins welcome credit rating and OCTFCU account history. personal finance Free Bill Summer Purchases Payment Earn Big Rewards Set up automatic online Use your OCTFCU Visa for all your purchases this payments, track your summer and enjoy the following rewards: bills in one place, and save on postage and check reordering with our free online Bill Payment system at Double Travel Points 4.9% APR** www.octfcu.org. Visa Rewards Card Visa Classic, Gold, Earn two air travel points for and Platinum every dollar you spend using You’ll enjoy this great rate your OCTFCU Visa Rewards on all purchases made Card through September.* through September until the promotional balance is paid in full.** To apply for an OCTFCU Visa, visit www.octfcu.org or call our Telephone Service Center. *Rewards Card Points Special Offer: Two points earned on new purchases made between 7/1/05 and 9/30/05. Two points offer is not applicable to cash advance, balance transfer, or Visa convenience check transactions. OCTFCU has a credit card program that features a range of interest rates. Rates as of 8/1/05 are ‘‘ I really appreciate OCTFCU’s Online Banking 11.15%, 13.15%, and 15.15% APR. Variable rate, subject to change. Rates are based on a variety of factors, including the applicant’s credit rating and because I can check my accounts to see what has OCTFCU account history. There is a $45 annual fee. gone through. I can look up checks, research **4.9% APR Special Offer: Promotional 4.9% APR is valid for new purchases made transactions, and transfer money. It’s nice to do between 7/1/05 and 9/30/05. Promotional rate offer is not applicable to cash that at home at any hour that’s convenient for advance, balance transfer, or Visa convenience check transactions. Existing me. I think it’s great. ’’ OCTFCU loans and credit card balances are not eligible for the 4.9% APR promotional rate. The 4.9% APR will apply to all promotional balances, until the promotional balance is paid in full. Payment will be applied first to finance — M E M B E R DAV I D S TO F F E L charges, fees, promotional balance, and regular balance. Promotional rate is not valid for OCTFCU Rewards Card. Protect Yourself Against Fees Share savings Overdraft Protection May Save You Money Overdrafts can happen to purchase by automatically Certificate anyone. An error in math, an overlooked ATM withdrawal, or transferring the needed funds from another OCTFCU account. Savings forgetting to make a deposit can all cause a check written in good Overdraft Protection Begins With faith to be returned. However, there are ways you can protect Line of Credit Our Overdraft Protection Line of Only $500 yourself with overdraft Credit can help eliminate the You can now open an protection. embarrassment and expense of OCTFCU Share Certificate an overdrawn check or or IRA with as little as $500. Free Overdraft Transfer insufficient funds. Funds will be We’ve recently reduced the With one phone call, you can set automatically transferred to minimum deposit from up free overdraft transfer your OCTFCU Checking account $2,000 to $500 to help protection to help ensure that to cover the check(s), up to your Members with smaller you do not incur any fees available credit limit. balances start saving associated with insufficient sooner. Open a Share funds. Overdraft transfer To set up your free overdraft Certificate through our protection safeguards your transfer protection or apply for online banking system at account if you should exceed an Overdraft Protection Line of www.octfcu.org or by your balance with a check, ATM Credit, visit our web site or call calling our Telephone withdrawal, or debit card our Telephone Service Center. Service Center. home Put Your EquityTo Saving for a Down Work For You Payment vs. Paying Off Credit Card Debt Many aspiring homeowners focus on saving as much money as possible for a down payment instead of paying off other debts. As an alternative, you might consider eliminating credit card and other high-interest loan debt first—even if that means putting less money down on your future home. Our Home Equity Loan features: Fixed s Fixed annual percentage rate as Why? First, credit card debt is expensive 6.0% APR* low as 6.0%APR* s No points or application fees s Free 60-day rate lock and limits your ability to save. The average interest rate on a standard credit card is 13.2%, more than double the current national average for a 30-year, fixed rate s Loan amounts up to $500,000 mortgage.* Second, more outstanding loan s Up to 15-year terms debt may limit how much you can borrow Home equity loans give for a home. consumers a smart financing s Convenient automatic alternative by offering the payment options Our First-Time Home Buyer and Educators following benefits: Mortgage programs provide the perfect OCTFCU also offers a competitive opportunity to take advantage of this s Rates are typically lower Home Equity Line of Credit. For strategy. Features include a zero-down than credit card rates more information, visit our web site payment option with no private mortgage s Interest paid on home at www.octfcu.org or call our insurance (PMI) required. To learn more, equity loans may be Telephone Service Center. call 714/258-4000, extension 8236, or apply tax deductible** online at www.octfcu.org/mortgageinfo. *Rate is current as of July 21, 2005, is subject to s You can borrow up to 100% change, and applies to 80% loan-to-value with 7-year repayment period. Estimated payment *Source: Bankrate.com 7/1/05. Mortgages offered by of your home’s appraised value OCTFCU Mortgage Co., LLC, a wholly owned subsidiary $14.61 per $1,000 borrowed. (less your first mortgage) of OCTFCU. Programs are subject to change. **Always consult a tax advisor regarding the deductibility of interest. how to reach us Retirement Workshops WEB SITE TELEPHONE SERVICE CENTER TELLERPHONE www.octfcu.org 714/258-4000, 800/4OCTFCU Monday-Friday: 7 a.m. to 7 p.m. Saturday: 9 a.m. to 3 p.m. 714/258-4100, 800/540-4546 TDD-Telecommunications Tuesday, Workshop–Investing for Retirement: Device for the Deaf 714/258-4227 August 16 Beginning Strategies† MAILING ADDRESS P.O. Box 11547 Santa Ana, CA 92711-1547 5:30 p.m. - 7 p.m. OCTFCU Santa Ana branch ANAHEIM 590 N. Euclid Street ANAHEIM HILLS E 8152 E. Santa Ana Canyon Road Wednesday, Workshop–Investing for Retirement: CORONA E SB 550 Hidden Valley Parkway August 17 Beginning Strategies† CSUF C On campus, 2nd floor of Titan Shops CYPRESS 6828 W. Katella Avenue 6 p.m. - 7:30 p.m. Cypress Public Library FOUNTAIN VALLEY 18651 Brookhurst Street FULLERTON 1040 E. Bastanchury Road GARDEN GROVE 13008 Harbor Blvd. Wednesday, Workshop–Investing for Retirement: HUNTINGTON BEACH 7251 Warner Avenue IRVINE 5305 Alton Parkway August 17 Beginning Strategies† LAGUNA HILLS E SB 26892 S. La Paz Road 6:30 p.m. - 8 p.m. Lakeview Senior Center, Irvine LONG BEACH E SB 6501 E. Spring Street MISSION VIEJO 26440 La Alameda (Event not sponsored or endorsed by the City of Irvine.) NEWPORT-MESA 450 E. 17th Street PLACENTIA 377 E. Chapman Avenue Register online at www.octfcu.org or by calling our Telephone Service Center. RANCHO SANTA MARGARITA 30092 Santa Margarita Parkway SANTA ANA 2115 N. Broadway † Investment products and services offered through CUSO Financial Services, L.P. (CFS) are not NCUA/NCUSIF UCI C On campus, next to bookstore insured, not Credit Union guaranteed and may lose value. Financial Advisors are employed by OCTFCU and WALNUT 515 N. Grand Avenue registered through CFS. OCTFCU is in partnership with CFS. Member NASD/SIPC. BRANCH HOURS Monday-Thursday: 9 a.m. to 5 p.m. eVision is a registered trademark of CFS. Friday: 9 a.m. to 6 p.m. REPORT CARD is a publication of E EXPRESS CENTER HOURS Monday-Friday: 10 a.m. to 6 p.m. OCTFCU. Editorial questions and We Put Saturday: 10 a.m. to 3 p.m. comments are welcome. Please call Educators SB EXPRESS CENTER LOCATED INSIDE STATER BROS. marketing at 714/258-4000, ext. C CAMPUS BRANCH, CALL FOR HOURS 8137. Editor, Shannon Langpap Federally insured by NCUA First. Visit our web site for a complete listing of OCTFCU and CO-OP Network ATMs.