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NEWSLETTER:
Volume 16, No. 3, July, 2000
REBATES
Your Credit Union is pleased to continue the quarterly rebate
for all real estate loans and older unsecured loans. This reduced
the effective secured loan rates to 6.5%, and the effective unsecured
loan rates to 12% for the second quarter of 2000.
DIVIDENDS
For the second quarter, the Board of Directors declared the dividend
rate of 2.25% on balances of less than $5,000, and 2.75% on balances
of $5,000 and greater. The annual percentage yield on these rates
is 2.27% and 2.78% respectively.
NEW SERVICES
T2000 is the 55th Anniversary of the Credit Union’s founding.
In conjunction with a celebration held at the Home Office in June,
we unveiled a line of new services which will revolutionize the
way members do business with us. They will become available to members
during the second half of the year, and are described below and
on the attached flyer.
Auto Purchases through Priceline.com
Our web site will contain a link to Priceline.com’s site. Members
can research the value of new autos that interest them, and if they
decide to buy, name their own price which Priceline.com will take
to their network of dealers. If the bid is accepted, you have a
deal. Furthermore, if the member takes the auto loan with the Credit
Union, we will refund the $50 fee Priceline charges for the service.
Visa Cards
We will begin offering Visa cards. Our rate will be 13.2% fixed,
and the maximum credit line will be $5,000.00. There will be no
annual fee.
Share draft (Checking) Accounts
We will be offering Share Draft (Credit Union terminology for Checking)
accounts. Members who work for Rohm and Haas can have their net
pay deposited, as can other members whose employers have the direct
deposit capability. Retirees can have direct deposit of social security
and other government transfer payments. There will be no monthly
fee, and a free box of checks per year. Statements will be sent
monthly.
MAC/Debit Cards
You can easily access the cash in your Share and Share Draft accounts
through MAC. At our own MAC machine, to be located in the Rohm and
Haas building lobby, there will be no transaction fee for accessing
your Credit Union accounts. We will also not charge for accessing
your accounts through outside machines; however, other banks may
charge a fee for using their machines. Your MAC card will also be
a debit card, a Mastercard which can be used for purchases at retail
outlets which accept Mastercard. Purchases made in this way will
come directly out of your Credit Union account.
NetTeller Internet Banking
Using your own web browser, you can securely access your Credit
Union accounts to make inquiries, obtain statements, transfer funds
among different accounts or to make loan payments. You will also
be able to pay bills through the internet, set up recurring payments,
such as mortgage or auto loans, or make random payments monthly.
Watch
for future announcements, as these services become available.
CD RATES
We offer certificates of deposit at the following current rates
and yields for the following terms:
| 6 month certificate | 4.25% rate | 4.34% yield | $2,500 minimum |
| 9 month certificate | 5.00% rate | 5.12% yield | $2,500 minimum |
| 12 month certificate | 5.25% rate | 5.38% yield | $2,500 minimum |
| 30 month certificate | 5.50% rate | 5.65% yield | $1,000 minimum |
| 60 month certificate | 5.70% rate | 5.86% yield | $1,000 minimum |
Current certificate of deposit rates offered are subject to change in response to market conditions.
24 HOURS/7
DAYS PER WEEK SERVICE
Don’t forget that the Credit Union has a 24 hour a day Voice
Response Unit. Users of the system need to call the office to establish
a PIN number. Members can obtain balances, request withdrawals, and
make transfers among different accounts or to make a loan payment.
To reach the system, call (215) 592-3084