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NEWSLETTER:
Volume 14, No. 1, January, 1998
REBATES
The Board of Directors 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 to12%
for the fourth quarter of 1997.
For the the fourth quarter, the Board declared the dividend rate of 2.5% on balances less than $5,000 and 3% on balances of $5,000 and greater.
GREAT PROMOTIONS IN 1988
Questionnaire
In mid January, in order to make sure we are meeting our members' needs,
we will be putting a questionnaire on our web page. Company employees
will be alerted to it via cc: mail; access to our page is through "Support
Organizations" from the Rohm and Haas home page. For those outside
the company, our page can be reached at: "http://www.rhcu.com".
If you don't have access to the questionnaire electronically, please
feel free to contact the office and we will be happy to mail out a hard
copy.
Personal
Financial Planning Seminar
On Monday, January 19, we will be holding a lunch seminar in Conference
room B1 from noon until 1:00PM. The topic will be "Personal Financial
Planning". it is intended as an overview beginning with asset creation
at the beginning of a working career through retirement planning. For
members who want to look deeper into any aspect of the seminar, Credit
Union staff will be available for a private appointment. Financial counseling
is a little-known service which we have always provided. Members should
bring their lunches; beverages will be provided.
Loan
Promotions
In the spring, we will be offering promotions on auto loans, home equity
loans, and personal loans. Our current rates are very competitive, particularly
with interest rebates, but our specials involve 100% financing and 60
month terms on Enterprise used cars at their sale for us and the Del
Val and Bristol Credit Union members. This will be held on the week
of May 4 through 9. For those outside the Philadelphia area, we will
honor these terms for a purchase at any Enterprise location. The autos
offered are one and two year old used cars from Enterprise's fleet.
We will be doing a mailing closer to the date of sale.
BMW
New Car Rebates
For new autos, BMW of North America, Inc. has made a rebate program
available to Rohm and Haas employees, effective January 1, 1998. After
you have negotiated a purchase or lease with the dealer of your choice,
the Credit Union will have an allowance check request form available
to be sent directly to BMW; the check will be mailed to you. The rebate
amounts vary from $500 to $2,000 based on the model you choose. A $500
rebate is also offered on dealer certified pre-owned vehicles. With
prior approval, the rebates can be used toward the down payment or cap
on the lease.
Philadelphia
Area Deals on Cars
Also for Rohm and Haas employees in the Philadelphia area, Thompson
Toyota, Nissan, Lexus, and BMW of Doylestown offers guaranteed prices
of 3% over invoice on Toyotas and Nissans and 5% over invoice on Lexus
and BMW's in stock. Members need to ask for Dennis Levitt and may call
him for further information at 1 (800) 480-6067. Thompson also offers
special pricing to Rohm and Haas employees on all pre-owned vehicles.
The Credit Union subscribes to the NADA books on used car prices, and
the Black Book for invoice prices on new cars, so members may research
their purchase to be sure they are getting a good price.
Home
Equity Loans
Our home equity loan promotion will involve waiver of fees with the
exception of title insurance, and our personal loan promotion will involve
extension of the loan limit from $10,000 to $15,000 for bill consolidation
loans. We will provide more details on these promotions in our April
newsletter.
Increased
rates for CD's and IRA CD's
This spring we also expect to offer something for savers: Increased
rates for a limited time on CD's and IRA CD's. More details on this
offer will also be forthcoming in April.
Annual
Meeting
Our 52nd Annual Meeting will be held again this year at the Mask and
Wig Club, 210 S. Quince Street Philadelphia on Friday March 6, 1998
at 5:00 PM. All members are invited to attend. For those who would like
to stay for drinks, dinner, and dancing, tickets are available at $20.00.
CD RATES
We offer certificates of deposit at the following current rates for
the following terms:
| 6 month certificate |
4.75% rate |
4.86% yield |
$2,500 minimum |
| 9 month certificate |
5.17% rate |
5.30% yield |
$2,500 minimum |
| 12 month certificate |
5.50% rate |
5.65% yield |
$2,500 minimum |
| 30 month certificate |
5.75% rate |
5.91% yield |
$1,000 minimum |
| 60 month certificate |
5.75% rate |
5.91% yield |
$1,000 minimum |
Current certificate of deposit rates offered are subject to change in response to market conditions.
YOUR
MONEY IS SAFE
All Credit Union deposits are insured by NCUA, a federal government
agency up to $100,000 per member. The NCUA fund is in sound health,
without a losing year in its 26 year history, and has an equity level
of 1.30% of insured savings.
24 HOUR
/ 7 DAYS PER WEEK SERVICE
Don't forget that the Credit Union has a 24 hour a day Voice Response
Unit. The system is only down for about 30 minutes a day during system
backup around 2:00 P.M., or in the rare event of repairs to the building
electrical system during weekends. To reach the system call (215) 592-3084