NEWSLETTER:
Volume 17, No. 1, January, 2001

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 fourth quarter of 2000. This is the fourth consecutive year that we have reduced rates to these levels, in spite of higher rates throughout the banking industry.

DIVIDENDS
For the third 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.

UPDATE ON NEW SERVICES

Share draft (Checking) Accounts
Your Credit Union now offers free checking accounts. There is no minimum balance required to avoid monthly fees. These accounts are absolutely free! We also provide 200 free checks per year. Overdraft protection is available by filling out an application and submitting it to the office. If you’re not located at the Home Office, call us at (215) 592-2737 and we’ll gladly send you an application. We’re also pleased to report that beginning early next year, we will offer an internet bill paying option for your checking accounts.

ATM Cards
We now have our own ATM machine in the lobby of the Rohm and Haas building. It is in the alcove where the phone booths are located. You can access your checking, savings, and personal service lines of credit via any ATM machine. If you use our card to access your Credit Union accounts at our ATM, there will be no surcharge. Remember, however, that other banks may charge you a surcharge to access our accounts at their machines.

NetTeller Internet Banking
You can now access your Credit Union accounts via the internet. This is another new service we offer absolutely free! From your home PC, you can log on to our Website at www.rhcu.com and view your balances and transactions, and make transfers between accounts. To do this you’ll need a logon ID and PIN which can be obtained from the Credit Union office. Also, as noted above, you’ll soon be able to pay your bills using NetTeller internet banking!

Visa Cards
We are now accepting applications for our Visa Cards. The rate is a fixed 13.2%, and the maximum credit line is $5,000. We do require an excellent credit rating to approve your Visa application.

Auto Purchases through Priceline.com
The winter months, particularly February, are an excellent time to purchase a new car. Dealers are generally more interested in cutting deals, as fewer people think about buying cars during the cold and snowy months. In addition, February is a short month, so salesmen don’t have as much time to make their quotas. Since they are paid straight commission, this makes them much more amenable to a reasonable offer. From our Website at www.rhcu.com, click on the Priceline.com hotbutton, and you are ready to research dealers’ costs and suggested retail prices for the cars which interest you. You can then make an offer which Priceline.com will take to area dealers. If you offer is accepted, you have a deal. All without leaving your keyboard! Any Credit Union members who finance their auto purchase through the Credit Union will receive a refund of the $50.00 fee due to Priceline.com for an accepted offer.

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.

YOUR MONEY IS SAFE
All Credit Union deposits are insured 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 29 year history, and has an equity level of 1.30% of insured savings.

 

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