 |
|
 |
||||||
                   |
 |
Membership Matters
|
||||
| Fall 2008 - In This Issue | |
We are excited to introduce our new credit union name and logo with this issue of our newsletter. While we still have the same relationship with Princeton University, our new name, Princeton Federal Credit Union more accurately reflects the diversity of our membership as we continue to grow and add new companies that are not affiliated with Princeton University.
While our name and logo have changed, our services and commitment to provide our members with unsurpassed service has not changed.
With the financial services industry headlining most news stories these days, I want to take this opportunity to speak to you about Princeton Federal Credit Union’s commitment to our members.
Princeton Federal Credit Union operates from a position of financial strength with 16.5% capital which is higher than required by the federal regulators. Your funds are federally insured up to $100,000 for individual accounts, and up to $250,000 for individual retirement accounts, by the National Credit Union Administration through the National Credit Union Share Insurance Fund (NCUSIF).
Why not share this great news with your immediate family and coworkers so they too can enjoy the benefits of belonging to Princeton Federal Credit Union.
Cordially,
Sam Paulicelli
CEO
Investments
In 2007, the average cost of sending your child to four years of college was $65,600… and it’s getting more expensive every year.
It’s never too early to start saving for your family’s future. For all life’s expenses, Princeton Federal Credit Union offers the means to save your money and watch it grow.
Make your money work for you today – open a high-yield share certificate as high as 3.50% APY*.
Electronic Banking
The Benefits of Online Bill Payment
The average member that writes 10 checks a month is paying over $50 per year in postage alone. This does not even include the cost of the paper checks, envelopes or trips to the mail box.
Security is another issue. According to Automated Clearing House (ACH), as many as 10 people handle your check from the time it is written until the funds are transferred. They can see your name, address, telephone number (if it’s printed on your check), and your checking account number. With automated bill payments, electronic transactions are encrypted to prevent unauthorized access to your payment information.
Finally there is the convenience factor. Your bills are paid automatically regardless of whether you are on vacation or simply too busy. You never have to worry about a late payment.
Inactive Account Reminder
The State of New Jersey considers your account “unclaimed property” if you have not performed a transaction or had written contact with your financial institution for three years. The law requires businesses to send this “unclaimed property” to the state for safekeeping.
When your account is inactive for one year it will be considered a “dormant” account and a $1.00 fee will be assessed monthly. You must perform a transaction or notify us in writing that you wish to keep your account active or that you wish to close the account and receive a check.
Keep your contact information current. If you need to update your information we suggest you log into CU Direct Home Banking and make any corrections to your address or phone number on the change of address form located under the ‘Secure forms’ tab.
If you need to update your e-mail address log into CU Direct and click on User Options’ to make the change.
You may also visit one of our locations and submit the changes in person.
Home Equity Loans
Home Equity Loans— For All of Your Borrowing Needs
We have money to lend and look forward to serving you. Borrow up to 85% LTV (loan-to-value) on your next home equity loan. Plus, the interest you pay may be tax deductible.¹
Fixed-Rate Home Equity Loan— Rates as low as 5.49% APR*
You can decide exactly how much you want to borrow, and your annual
percentage rate and payments are fixed over the life of the loan, with
repayment terms to meet your needs. Financing may be available up
to 20 years.
Variable-Rate Home Equity Line of Credit— Rates as low as 4% APR**
You establish a credit limit to use anytime, for anything, simply by writing a convenience check or accessing your account online. You pay back only what you use, when you use it, with a great rate!
Auto Loans, Etc.
Vehicle loan rates start as low as 4.49% APR*
Plus, we may offer up to 115% financing for new vehicles and 115% of the NADA retail value for used vehicles which can help you to pay for the added expenses of taxes, tags, doc fees and/or warranty*.
Plus, we offer flexible terms that will allow your new monthly payment to comfortably fit into your budget.
Call us first by dialing 609-945-6200 and speak to a representative in the loan department or log on to www.princetonfcu.org and apply online. Remember a pre-approved loan at Princeton FCU can give you that added ‘buying power’ when negotiating a price on your next vehicle purchase.
Free Checking
One smart move deserves another You became a credit union member because of the money-saving financial benefits. That was a smart move. But if you have your checking account elsewhere you’re probably not saving or earning as much as you could with a Princeton Federal Credit Union checking account.
- No monthly service fees
- No minimum balance requirements
- Automatic overdraft protection available
- Easy to track carbonless check copies
- Earn dividends
- Free online bill payer service
Make another smart move and stop in the credit union for a checking account application. You’ll appreciate the savings and convenience!
Congratulations!
Congratulations to Emma Schultz of Buffalo Grove, Illinois! Emma was
recently awarded $250.00 after winning the drawing held by the credit union.
All incoming freshmen were eligible to enter the drawing. They simply needed
to open an account by mail prior to arriving on campus. She was very
A Tradition of Financial Excellence surprised, and thankful for the extra money!
Introducing Our New Lending Program
Effective, August 4, 2008, Princeton Federal Credit Union began offering a new risk based lending program. This program was created to help as many members as possible obtain loans. Some of you have experienced difficulty in the past with your credit, and as a result, have been denied loan requests.
Unfortunately, this may have forced you to pay extraordinarily high interest rates elsewhere. Our new lending program will enable us to better serve you here at the Credit Union and perhaps protect you from predatory (unfair) lenders. Our goal is to help as many members as possible under this new risk based lending program.
The annual percentage rate on a loan will now be determined by your credit worthiness. If you have an excellent credit history and a high credit score, you will receive our best interest rate, which very well may be the best rate offered by most lenders. If you have had credit problems in the past and are deserving of a chance to improve your credit history, a loan may be granted with an interest rate correlating to the amount of risk the Credit Union will take in order to grant the loan. If we are still unable to grant you a loan due to poor credit history and an extremely low credit score, we may offer tips to help you improve your score on your credit report.
Please understand you will now see our advertising to include rates “as low as”. These loan interest rates apply to those of you with exceptional credit. We encourage you to call the loan department at 609-945-6200 regarding your next loan request. Again, one of our primary goals here at Princeton Federal Credit Union is to satisfy the lending needs of as many members as possible and help them to save money. If you are not sure what rate you may be paying another lender, call them first and then call us. Let’s talk refinance.
Now is the Time to Borrow for Less—Get Pre-Approved Today!
A market downturn can be one of the best times to purchase or refinance your next vehicle. When rates are down, loan payments are down, too! Are you ready to shop for that next purchase? Hop in the driver’s seat today with a pre-approved loan from Princeton Federal Credit Union. Call on us first before you shop and get pre-approved today!
It's Fun To Belong
We Invite Your Family To Join Us!
If you are a member of Princeton Federal Credit Union, then your family is eligible to join the credit union and take advantage of all the services and benefits that are available to you. Immediate family members and those sharing the same household of a current credit union member are all eligible to join Princeton Federal Credit Union. Immediate family is defined as spouse, child, sibling, parent, grandparent, or grandchild. This includes stepparents, stepchildren, step siblings, and adoptive relationships. Household is defined as persons living in the same residence maintaining a single economic unit.
An initial deposit of $5.00 along with a completed membership application, are all that are required to become a member of Princeton Federal Credit Union. And Princeton Federal Credit Union’s “Once a Member, Always a Member” policy means that your family can remain members of the credit union for life.
As a Princeton Federal Credit Union member, we urge you to introduce the benefits of credit union membership to your family!
Celebrate Your Credit Union Ownership this October!
Do you know who owns Princeton Federal Credit Union? You do! And that is just one of the many things that make credit unions unique and one of the membership benefits we’ll recognize on October 17th when we celebrate International Credit Union Day.
Credit unions are not-for-profit, democratically controlled, volunteer-run, member-owned cooperatives. They exist to serve their members. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members in the form of lower loan rates, higher interest on deposits, and lower fees.
At credit unions, every customer is both a member and an owner. This years International Credit Union Day theme – It Belongs to Me – celebrates the economic democracy and equal ownership rights of each credit union member, regardless of how much money that member may have in savings. Please join us on October 17th as we honor our most valuable asset: our members. You are the reason Princeton Federal Credit Union exists.
| All Rights Reserved © 2010 Princeton Federal Credit Union Privacy Policy | Site Map |
 |