Visa Check Card
A fast, convenient, and safe way to pay

A Visa check card is a type of “debit” card that looks similar to a credit card but acts like a check because the purchase amount is deducted from your checking account.
  • Quicker than making a trip to the ATM, more convenient than writing checks, and safer than carrying cash.
  • Accepted at millions of merchant locations worldwide.
  • No need to use your PIN—just sign as you would for any Visa card.
  • Visa check card purchases are automatically deducted from your checking account,so there’s no interest to pay.
  • Simplify your record-keeping—your monthly statement provides you with a detailed record of all your transactions.

Frequently asked questions about Visa check cards.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home Equity Loan
Sometimes referred to as a second mortgage or borrowing against your home. The loan allows you to tap into your home's built-up equity, which is the difference between the amount your home could be sold for, and the amount that you still owe. Homeowners often use a home-equity loan for home improvements, to pay for a new car, or to finance their child's college education. A home-equity loan is a good way to borrow money for two main reasons: 1.) the interest rate is usually one of the lowest loan rates a borrower can get and 2.) the interest you pay on the loan is usually tax-deductible. But taking out a home-equity loan also means the lender can take possession of the home if the loan isn't repaid.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Credit Improvement Reward Program
We realize that sometimes bad things happen to good people. So why be continually punished for a mistake that once negatively affected your credit score? That why we created the Credit Improvement Reward Program. During the term of your loan, you can request a new credit review. If your credit score has improved enough, we'll change the rate on your loan, instantly lowering your payments. You can request a credit review twice during the term of each loan.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Closing Costs
Expenses (over and above the price of the property) incurred by buyers and sellers in transferring ownership of a property. Closing costs normally include an origination fee, an attorney's fee, taxes, an amount placed in escrow, and charges for obtaining title insurance and a survey. Closing costs percentage will vary according to the area of the country.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Rate Mortgage
A mortgage in which the interest rate does not change during the entire term of the loan.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjustable Rate Mortgage (ARM)
A mortgage in which the interest rate fluctuates during the life of the loan according to general economic conditions. A financial "index" is the basis that the lender uses to determine changes in the interest rate. There is typically a "cap" or limit on how much the interest rate can change annually and over the life of the loan.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Only Mortgage
Many home buyers are turning to mortgages with interest-only payment schedules so they can afford to buy a more expensive home. These mortgages have lower monthly payments, which makes qualifying easier. But the lower payments don’t last forever, and interest-only loans aren’t for everyone.

Mortgages with an interest-only payment feature come in many varieties. Basically, they work like this. The borrower pays interest-only payments for the first five, 10 or 15 years. The monthly payments are lower than they would be with a fully amortized loan during this initial period. However, at the end of the interest-only payment period, the borrower still owes the entire amount borrowed.

With a fully amortized loan, part of each monthly payment pays back a portion of the principal (the amount borrowed). A fully amortized payment schedule pays back the loan in full during the term of the loan, which is usually 30 years. At the end of 30 years, you owe nothing.

Interest-only is a bit of a misnomer. You ultimately have to repay the amount you borrow, so you won’t make interest-only payments indefinitely. After the initial interest-only period, the principal is amortized over the remaining loan term. With a 30-year mortgage that has a 5-year interest-only payment plan, the principal will be amortized over the remaining 25 years of the loan. A shorter amortization period requires the borrower to make a higher monthly payment in order to repay the loan more quickly. This means an increase in the monthly payment starting with year six of the loan.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2010 Federal Holidays
New Year's Day Friday, January 1
Martin Luther King, Jr. Day Monday, January 18
President's Day Monday, February 15
Memorial Day Monday, May 31
Independence Day Monday, July 5
Labor Day Monday, September 6
Columbus Day Monday, October 11
Veteran's Day Thursday, November 11
Thanksgiving Day Thursday, November 25
Christmas Eve Day Friday, December 24
New Year's Day Saturday, January 1, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ABA Number

Our ABA Number, also known as a routing number is: 311080311

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lost/Stolen Credit or Debit Card

To report a lost or stolen debit or credit card immediately call the numbers below. Support is available 24 hours a day 7 days a week.

VISA Debit Cards call: 1-800-472-3272

MasterCard/Visa Credit Card call: 1-800-442-4757

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Flex Rate CD
A Flex Rate CD allows for you to request a one time rate increase during the term of the CD. This guarantees that you will continue to receive a great rate even if rates go up after you open the account.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Courtesy Pay
Courtesy Pay is a service that adds an extra level of protection to your Prestige checking account. Courtesy Pay covers your insufficient funds checks, (NSF) up to your approved limit, for one low fee per transaction. That means, instead of returning a check to the merchant because of insufficient funds, Prestige pays your check, saving you from additional fees charged by the merchant. Most importantly, it saves you the embarrassment an inadvertent overdraft can cause.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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McGladrey & Pullen Audit Underway

As an integral part of our risk management process, every year our Credit Union contacts a sample of our members to confirm the accuracy of their account balance. This process is required by our auditors and our regulators. It is one of many internal control processes followed by the Credit Union to enhance the accuracy and reliability of our financial reporting systems which ultimately protects you, our member.

This year, we have contracted with McGladry & Pullen to conduct our audit. Should you receive a letter requesting confirmation of your financial information, please be assured that it is a part of our audit process. If you have any questions, please feel free to contact us.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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