Come to Sacramento Credit Union — We Want to Help!

Moneymatters
December 2007
Rising Mortgage Payments Got You Down?
Come to Sacramento Credit
Union — We Want to Help!
When real estate was booming, lenders found a number of creative ways to
help homebuyers qualify for mortgages … adjustable rate mortgages (ARMs)
… interest-only hybrid mortgages … negative amortization mortgages with
balloon payments.
However, the low initial rates of many of
these “exotic” mortgages are beginning to
reset, and many homeowners are finding the
new, higher payments difficult to manage.
Homeowners also took advantage of rising
home values to obtain large home equity loans
and lines of credit. Some may be facing hardships as housing values drop or because of job
loss, illness or injury.
Talk to Us First
If rising payments or unexpected events
are causing you stress, Sacramento Credit
Union may be able to help. We’ve been in
the business of improving members’ financial
well-being since 1935. As a member-owned
cooperative, Sacramento Credit Union is
dedicated to serving members, not increasing
stockholder profits. You can trust Sacramento
Credit Union’s lending professionals to work
with you in your best interest.
Don’t wait until you begin to miss payments,
or worse, face foreclosure. We can explore
ways to help make your loan payments fit
within your budget. We’ll look into refinancing
to a new loan rate or term, or finding government programs that can help. We may even be
able to come up with a temporary solution to
get you through a rough spot, just until you get
back on your feet.
If you’re having difficulty with your home
loan payments, please call us today at
(916) 441-LOAN, or stop by and speak
with a branch manager.
Sign up for e-statements
in this issue
How to Detect a Scam...2
Would You Help a Sick Child for $1?...2
Calendar of Events
Christmas – Dec. 25
SCU Offices Closed
New Year's Day – Jan. 1
SCU Offices Closed
It Is Easy Being Green!
Going green is no longer a fad. It’s a way of
life, and more people than ever are adopting
green policies – recycling, reusing and conserving resources. And they’re finding it can help
save the environment and save them money.
One very simple thing you can do to go green
Invest in Sacramento
is to sign up for e-Statements. Receiving your
Congratulations to the
Sacramento Credit Union statements online rather
Winner
of the Sacramento
than receiving paper statements is:
Home
•Credit
Quicker.Union
You’ll have
your statements as
Zone
soon asMakeover
they’re available.
• Safer. Statements don’t get lost or stolen in
Barbara from Sacramento is the lucky
the mail.
winner of the Sacramento Credit Union’s
• Greener. You’ll help the credit union save
Home Zone Makeover, presented by
paper, postage and fuel. According to Javelin
100.5 The Zone. Barbara won more
Strategy & Research, if everyone in the U.S.
than $50,000 worth of services and
received their financial statements and paid
merchandise to use toward a home
bills online rather than receiving statements
renovation. Congratulations!
and writing checks, we could save nearly
17 million trees and avoid 4 billion tons of
greenhouse gases a year.*
Plus, receiving and viewing your Sacramento
Credit Union statements online is one step in
qualifying for the benefits of Free Rewards
Checking – the checking account that pays you
high-rate interest.**
Sign up for e-Statements now at
www.sactocu.org, or stop by your
nearest branch. A tree – and the
next generation – will thank you.
* Source: Javelin Strategy & Research, www.javelinstrategy.com.
** All monthly criteria (a direct deposit or ACH debit from your
account; perform at least 12 debit card transactions, not including
ATM transactions; have active e-Statement enrollment and view
your statement) must be met in order for the maximum annual
percentage yield to be credited to the account and ATM fees
refunded. Interest rate is subject to change. Members purchase
checks. ATM fees will be paid on behalf of qualified Free Rewards
Checking account holders up to a maximum of $4.99 per
transaction and a total of $25 per rewards cycle.
2 Moneymatters
Board of Directors
Terry Tice, Chair
Willie L. Southward, III, Vice Chair
Jan Reeves, Secretary-Treasurer
John Beck, Director
AnnMarie Boylan, Director
Les Brown, Director
Judy McGarry, Director
Mark Norris, Director
Supervisory Committee
Mary Ann Bennett, Chair
Beverly Skeaton, Vice Chair
Mari Lynn Shimamoto, Member
Gene Webb, Member
Pat Wilcox, Member
President & CEO
Jerrold A. Kinlock
Branch Hours
Mon. - Thurs. • 9 a.m. to 5 p.m.
Friday • 9 a.m. to 6 p.m.
All Offices
Phone: (916) 444-6070
Toll Free: 1(888) SACTO-01
24-Hour LoanAccess Line
Toll Free: 1(877) 444-LEND
E-Z Access: (916) 441-2255
Toll Free: 1(800) 397-2255
Elk Grove
9160 E. Stockton Blvd., Ste. 120
Fair Oaks
8100 Madison Avenue
Sacramento
3660 Bradshaw Road
800 H Street
3045 Arden Way, Ste. 200
6121 Franklin Blvd.
Kaiser Hospital*
6600 Bruceville Road
* Limited hours of operation.
www.sactocu.org
Home Loans
www.SCUhome.com
(916) 441-LOAN
SCU Investment Services
(916) 444-8599, ext. 3112
Personal Auto Shopper
Autoland
(916) 449-2763
How to Detect a Scam
In 2006, the Federal Trade Commission (FTC) complaint database received
more than 670,000 consumer fraud and identity theft complaints, and
consumers reported losses from fraud of more than $1.1 billion. The two
best weapons you can use to protect yourself against scam artists are
awareness of current fraud schemes and some common sense.
Now Making the Rounds
Sweepstakes prizes and lottery scams
inform the victims that even though they
never entered the contest, they’ve won a
prize; first, however, the “winners” must pay
registration, lawyer or courier fees. People
who pay the fees end up losing their money,
and never see a prize.
Advance fee fraud, also known as a “419”
or “Nigerian” scam because of the section of
Nigerian criminal law that makes it illegal,
is a scam in which the victim is asked to pay
fees in advance in exchange for huge sums
of money. For example, the victim might be
told that he or she will receive an unclaimed
bank account if lawyer or court fees are paid.
Work-at-home scams prey heavily on
senior citizens, stay-at-home moms and the
disabled, with promises of easy money and
no experience required. Unfortunately, the
victims often shell out money for instructions
or materials, only to find that they are left
with merchandise that is impossible to sell.
Charity fraud occurs when a phony group
uses a name resembling that of a legitimate
charitable organization, or high-pressure or
highly emotional appeals to raise money
from unsuspecting victims.
Protect Your Finances
When fighting fraud, a little common sense
goes a long way. Remember:
• If it sounds too good to be true, it
probably is.
• Never give out your personal information,
including account or Social Security numbers, in response to a call or e-mail that
you did not initiate. And never send sensitive information by e-mail.
• Claims of urgency should raise alarms
of suspicion.
• If you suspect fraud, contact the National
Consumers League’s Fraud Center at
www.fraud.org or 1-800-876-7060. If the
attempted fraud involves your Sacramento
Credit Union accounts, please notify the
credit union.
Invest in sacramento
Would You Help a Sick Child for $1?
You can’t even buy a cup of coffee for $1
these days. But you can help seriously ill or
injured children get the care they need.
As we have for many years, Sacramento
Credit Union is holding a “paper stocking”
drive at all our branches. For just $1, you
can purchase a paper stocking that’s more
than just a holiday decoration. It’s a chance
to help a child.
Every dollar collected benefits local
children through the Children’s Miracle
Network, an international nonprofit organization dedicated to raising funds for
affiliated children’s hospitals that provide
medical care to millions of ill or injured
children. Last year, the generous
members and employees of
Sacramento Credit Union
and other local credit
unions helped raise more
than $10,000 for UC Davis
Children’s Hospital, the
Children’s Miracle Network
hospital in our area.
So take part in the holiday spirit and help a child.
Buy a paper stocking
(or several!) at Sacramento
Credit Union. Your contribution
helps us Invest in Sacramento.
This publication does not constitute legal, accounting or other professional advice. Although it is intended to be ­accurate, neither the publisher
nor any other party assumes liability for loss or damage due to reliance on this material. ©2007 Priority Publications Inc. prioritypub.com