: Money Talk :
Monthly newsletter for OFCU members
December 2009
Notice: Late Payment Fee
Effective February 1, 2009, the late fee for consumer loans
(excludes real estate) will be $20 for any payment received 10 days
past the payment due date.
A Merry Holiday Season Starts At OFCU
Between purchasing gifts, decorating the tree, and family dinners, we know the holiday season can be stressful. But at OFCU, we want to help make your season merry and bright. As your credit union family, we believe it?s important to focus on family and make memories that will last a lifetime this holiday season.
From our low-rate Christmas Loan to our convenient VISA Credit Card, we have everything you need to ease your stress. Take advantage of these services and start making memories with the ones you love!
Christmas loan rate as low as 8.00% apr. Borrow up to $2500 for up to 12 months.
Holiday Food Drive
At OFCU, we truly believe in the credit union philosophy of "people
helping people." That's why we will be collecting non-perishable
food items for local food banks this holiday season. Help us make a
difference in the lives of the needy in our community this holiday
season.
Simply drop off your donation at any of our locations. We truly appreciate your help!
Skip-A-Payment Just in Time for the Holidays
OFCU understands the stress holiday expenses can put on your budget. That's why we're offering a special opportunity for you to skip your loan payment in December 2009 or January 2010. In order to qualify for Skip-A-Payment on your OFCU personal or auto loan*, you must be a member in good standing. Additionally, you must have made six (6) consecutive on-time monthly payments.
*Loans excluded from this program: Real Estate loans, VISA Credit Card, and loans that have had interest payments in the last 12 months. Interest will continue to accrue during the deferred period and will extend the original loan term.
Planning Ahead Is Easy With A Christmas Club
Account
It's never too early to start saving for the holidays. A Christmas
Club Account is a great way to make sure you'll have the money you
need. If you don't have an account, open one now and start
saving.
The money in your account will accumulate throughout the year as it earns dividends. You can make deposits easily through payroll deduction, in person or by mail.
Call us today to open an account or to increase the payroll deduction on your current account. Funds in your current Christmas Club Account will be transferred to your savings account on October 13, 2009.
Indirect Lending
Shop On The Lot And Finance With OFCU
You can apply for OFCU financing on-the-lot when you shop at one of our participating dealers. You'll get the same great rate you would get if you applied for the loan at our office. It's that simple.
Participating Dealers
| OWENSBORO Champion Ford/ Lincoln/Mercury/ Mazda Don Moore Nissan/ Toyota/Honda/ Mitsubishi Don Moore Chevrolet/ Cadilla c Don Moore Hyundai Roberts Brothers Auto Mart Roberts Motors Steve Jones Chrysler/ Dodge/Jeep Tapp Motors Champion-Ship Auto Sales CENTRAL CITY Pogue Chevrolet GREENVILLE Pogue Chrysler |
HARTFORD Moore Ford/Mercury/ Chrysler/Dodge/Jeep HENDERSON Dempewolf Ford HOPKINSVILLE Patriot Chevrolet Sisk Auto Mall Garland Nissan Toyota of Hopkinsville MADISONVILLE Hudson Ford Hudson Toyota POWDERLY D & P Auto Sales LIVERMORE B F Evans Ford |
Holiday LoansPurchasing gifts, decorating
the tree, holiday dinners... the holidays can get pretty stressful.
That?s why OFCU is offering a special Holiday Loan to take the
stress out of your holiday season. It?s the perfect way to pay for
everything from gifts to travel. *Annual Percentage Rate. Effective October 1, 2009 and subject to change. Must meet credit requirements. Actual rate determined by credit score. |
How To Keep More Money In Your Wallet
From gas to groceries, it seems the cost of living is going up more and more these days. And with the holidays just around the corner, you may be even more concerned about your budget. The good news is, you CAN get more out of your money. Take advantage of these helpful tips to put more money back in your wallet.
• Pay With Cash - For starters, when you pay with cash, it's a
lot harder to let go of your hard-earned money. You'll likely think
twice about letting
go of $100 cash to pay for something, versus paying for it with a
credit card. This can be especially helpful in determining which
purchases
are "needs" and which are "wants." Additionally, paying with cash
can be a great bargaining tool when shopping. Some merchants even
offer a discount when you pay with cash.
• Say "No" To Store Credit Cards - How many times have you gone to make a purchase at a store only to learn you'll save 10% or more on your purchase when you apply for their credit card? It's easy to sign up for that first savings, but not always easy to say no to using the credit card once it comes in the mail. Additionally, if you max out the credit on the first use, the savings really don't add up. The more store cards you have maxed out, the worse your credit rating is - which means you'll be spending more in the end because you'll be charged a higher interest rate when you go to borrow money for a car, house, etc.
Student Checking...
Is your son or daughter headed away to college this fall? Open a special student checking account for them at OFCU and help get them started on the right financial track. To be eligible, student must be 18 - 25 years old with a valid student ID.
• No Monthly Service Charge
• No Minimum Balance
• Dividends on daily balances of $600 or more
• FREE Checks
• VISA Debit Card
Applying For A Loan Is Simple At Our Branch
Locations
No need to drive to our Main Office to apply for a loan! The
process is simple and convenient at our branch
locations. Just stop by one of these branches the next time you
need a loan*.
• 1208 Triplett Street in Owensboro
• 1412 Chelsa Drive in Madisonville.
Home Equity Line Of Credit: Take Advantage Of Tax Savings
If you need money for home improvements,
now is the time to get a Home Equity Line of Credit at OFCU. You
may qualify for a tax credit*, up to 30%, on certain home
improvements such as energy-efficient skylights, windows and outer
doors, along with energy-saving water heaters, central air
conditioners and biomass stoves.
Plus, the interest on the loan may be tax deductible.*
*Consult your tax advisor
OFCU VISA: Transfer Balances And Save!
If you've been using other cards that charge high rates and fees, switch to an OFCU VISA Credit Card and save. Take advantage of our low rate to transfer balances from other higher rate cards or loans to an OFCU VISA when you open a new account.
Your OFCU VISA is the only card you'll need! There's no annual fee and a 25-day grace period on purchases.
If you don't have one of our cards, or would like to apply for an increase in your line of credit, call us today.
Switch To FREE Checking* At OFCU
Hurry, get a FREE gift♦ when you open a new checking account
by April 30!
Are you tired of paying fees and charges on your Checking Account at another fi nancial institution? Now is the time to switch to OFCU and save. Check out all the great savings and benefi ts you'll enjoy:
• No monthly service fee
• FREE special share drafts (checks)
• FREE VISA Debit/ATM Card
• No-fee American Express Travelers Cheques
• Unlimited check writing
• FREE Online Account Access
• FREE Telephone Account Access
• Overdraft protection from savings or loan
• Pre-authorized withdrawal for recurring payments
• No foreign ATM charges
• Courtesy Pay**
*Free checking available on accounts with a minimum $1,000 balance. **Courtesy Pay available to qualifi ed members.
♦ While supplies last.
Notice: VISA Credit Card Fee Changes
Effective August 1, 2009, the late fee for VISA Credit Card accounts will be $25 for any payment received 10 days past the payment due date. The exceeding credit limit fee will increase to $30.