  |
NEWSLETTER:
Volume
15, No. 2, April, 1999
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 to 12% for the first quarter of 1999.
* * * *
DIVIDENDS
For the first quarter, the Board declared the dividend rate of 2.5%
on balances of less than $5,000, and 3% on balances of $5,000 and
greater.
* * * *
LOAN
PROMOTIONS
We are offering great loan promotions this spring on all the types
of loans we offer.
Real
Estate
For
all real estate loans, whether home equity loans or home equity
lines of credit, we are waiving all closing costs including appraisal,
property search, flood certification, and recording fees. Of course,
we never charge an application fee. The only fee not covered is
title insurance for loans in excess of $100,000, We lend up to
80% of equity less the amount of any first mortgage to a maximum
loan amount of $200,000. Our maximum term is 15 years.
Auto
Loans
For auto loans we have dropped the rate by 1/2% until June 1,
1999. This results in the following rates:
| With no down payment | With 10% down | |
| 36 month loan . . . 6.999% | 36 month loan . . . 6.499% | |
| 36 month loan . . . 7.499% | 36 month loan . . . 6.999% | |
| 36 month loan . . . 7.999% | 36 month loan . . . 7.499% |
Used Cars
If
your interested in a used car, we subscribe to the NADA used car
guide and can provide you with advice on value. Our used car rate
is 7.499% with loan terms from 24 to 48 months depending on the
age of the car.
Enterprise
Used Cars
In addition, during the week of April 24 to May 1, we will be
offering a promotion in conjunction with the Enterprise used car
sale. At any Enterprise location, you can make a deal for a 1997
or 1998 car at lower than NADA book value. Enterprise offers a
12 month or 12,000 mile warranty and a 7 day or 1,000 mile buyback
guarantee, no questions asked if you return the car for any reason
during the guarantee period. For this sale only, in addition to
the 1/2% rate cut, we are offering 100% financing for up to 60
months.
Personal
Loans
Finally, until June 1, 1999, we will extend the maximum loan amount
on personal loans to $15,000 from $10,000 if the extra $5,000
is used for debt consolidation. To qualify, members who already
have a personal loan must have a balance currently below $10,000,
and bill payments must be made directly to the creditor.
Call or stop by the Credit Union office for details on any of these promotions or to make application.
*
* * *
CD
RATES
We offer certificates of deposit at the following current rates
and yields for the following terms:
| 6 month certificate | 3.75% rate | 3,83% yield | $2,500 minimum |
| 9 month certificate | 4.17% rate | 4.25% yield | $2,500 minimum |
| 12 month certificate | 4.50% rate | 4.60% yield | $2,500 minimum |
| 30 month certificate | 4.75% rate | 4.86% yield | $1,000 minimum |
| 60 month certificate | 4.75% rate | 4.86% yield | $1,000 minimum |
Current certificate of deposit rates offered are subject to change in response to market conditions.
* * * *
WE
CAN NOW ACCEPT ELECTRONIC FUNDS TRANSFERS THROUGH ACH
This means that those members not employed by Rohm and Haas can
have automatic deductions from their pay sent to us for savings
accounts or loan payments if your employer has this capability.
We can also receive your government transfer payments such as social
security, income tax refunds, and pensions. In addition, Rohm and
Haas pensioners can have their pension funds deposited electronically.
In order to effect this, give the payer our ABA number (2360 84451
5) and your six digit base account number at the Credit Union. Call
or stop by the office with any questions or to obtain help.
YOUR
MONEY IS SAFE
All Credit Union deposits are insured by up to $100,000 per member
by NCUA, a federal government agency. The NCUA fund is in sound
health, without a losing year in its 28 year history, and has an
equity level of 1.30% of insured savings.
* * * *
24
HOURS / 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.