Workout your financial future New life, new ride Interest rates

Workout your
financial future
New life,
new ride
Retirement
Planning
Summer 2016
Newsletter
Raise your
credit score
Home Equity
loans
Interest rates
Securing your
account
Don’t miss out on our new and exciting promotions
going on this summer.
Let us “workout” your financial future.
Have you had some credit difficulties? Do you want to
lower your current monthly payments? Do you need to
get on top of your debts? Health Care Credit Union can
help! Physical fitness is an important segment of our
health and well-being, and so is financial fitness. With one
of our low interest rate loans, you can begin the process
of financial fitness and well-being. Debt consolidation,
refinancing existing debt, or just getting a new loan
to improve your life can be quickly accomplished at
your credit union. We can also assist you with a credit
rebuilder loan. As an added incentive, Health Care Credit
Union will give the first 10 applicants for a financial
wellness loan at Health Care Credit Union a “Fit Bit” to
assist you in your physical wellness. To qualify for the
incentive, you must use the promotional code “fit”.
New Life, New Ride
Have you just graduated from High School and are entering
into the next stage of your life? Transportation will now
become an important issue as you go off to college or start a
new job. We want to help you! Our new and used car loans
are offered at great low rates, and we can set a term that will
allow your payments to be lower. As an added incentive, we
are offering an additional 25 basis points off the interest rate
if you use the promotional code “new life”. No credit is no
problem as long as your income can support your payment.
Let us help you get started on your new adventures and begin
building your financial future.
Retirement or Estate Planning
Thinking about your financial future and retirement? Health
Care Credit Union can help you establish a financial plan, or to
arrange for a living trust program. We have partnered with the
Business Planning Group to provide these services. They can help
you establish a financial plan or help you arrange for a living trust.
For more information, you can call Sean Henrie at the Business
Planning Group for a free consultation. His phone number is
801-446-2555.
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Need to
raise your
credit score?
If you’re worried about your
credit score, let us help you!
We offer many services to
help our members get back
on their feet and reach their
financial goals. Visit
Myhccu.org for more
information.
Summer is a popular time for
financing a new car or home,
but what if your credit score isn’t
where it needs to be? According
to MyFico.com, fixing or raising
your credit score doesn’t happen
overnight. It is a process that
can take some time. However,
MyFico.com has given several
suggestions on what you can do
right now to take control and
correctly manage it over time.
score is making your payments
on time? Many banks and credit
unions offer payment reminders
so that you never forget when
something is due.
Decrease your
outstanding debt. Using
your credit report, determine
what accounts you have open
and then find out how much
you owe for each account and
what kind of interest rates you
are paying. Figure out a system
Review your current
where you are able to pay off the
credit report. The best
highest interest rate account first
place to start is seeing where you while still being able to pay the
are at right now. You can obtain base amount on your other debt.
a free copy of your report and
Get current on your
look it over to ensure there are
no mistakes. Be sure to look for payments and maintain.
You first need to need to get
any errors with late payments
current on past payments. From
that may not have been late or
there, if you are able to maintain
that the amounts you owe for
open accounts is listed correctly. your payments and keep your
accounts current, you should see
If there are mistakes, it is
important to report them to the your score increase over time.
The more time passes, the less
credit bureau immediately.
impact older issues will have.
Create reminders for
your payments. Did you
know that one of the biggest
factors to impact your credit
Summer vacation time is here! We want to remind
you that we have arranged special vacation packages
with Get Away Today vacations. Make that dream
vacation a reality today. Vacation loans are available
if needed.
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Source: “How to repair my credit and improve
my FICO Scores.” myFICO. Web. 29 June 2016.
<http://www.myfico.com/crediteducation/
improveyourscore.aspx>.
Our Home Equity loans are a great way to
consolidate debt, do home improvements, help
pay for College tuition and much more!
What is happening with interest rates? For some time now, we have
been hearing that interest rates are scheduled to rise. The Federal
Reserve has had rate increases on every meeting agenda for several years
now. They did take measures to increase the rate by 25 basis points
in December with the prediction that future interest rate hikes would
happen each quarter in 2016. Shortly after the increase in December,
word came out that maybe they were a bit early with the hike. So far
in 2016, they have chosen no rate hike citing that the economy is not
ready for an adjustment. It is apparent that going forward there would
be no justification for an increase. Until the economic indicators
improve substantially, we do not expect interest rates to rise. That is
good news for the consumer as you can expect to see the low interest rate
environment continue to keep interest rates low for any borrowing
needs that you may have whether it be for a new car, or new mortgage.
The bad news for the consumer is that deposit rates remain very low, thus eroding your earnings power.
Don’t Forget!
Important offers for our members
School may be out for the summer, but that
doesn’t mean your education account has to take
a break as well. Students between the ages of
12-18 (grades 7-12) can open an education
account. The credit union will not only match
deposits at 25% up to $60 a year, but will also
pay for good grades. Be sure to save all the hard
earned money from your summer jobs!
Just a reminder that we are part of a Shared
Branching CO-OP that allows our members
access to their accounts anywhere, anytime. If
you’re traveling this summer, it’s quick and easy
to find a participating branch or ATM to access
your account. Visit
http://myhccu.org/atm-locator/ to find one
closest to you!
It’s always better to be safe than sorry! At Health Care Credit Union,
we use all available resources and efforts to keep your money and
information safe and secure. We ask that our members do everything
they can on their part to keep their account safe as well. If you ever see
anything suspicious on your account, call the merchant immediately.
If this does not easily resolve the issue, contact the Visa dispute line at
800-600-5249 to start a formal claim. If you lose or have your credit card
stolen, call us immediately so we can block your card. If it’s after hours,
call the Visa lost/stolen line at 800-528-2273. Make sure you are always
checking your account and reporting anything suspicious immediately.
Main Office
769 East So. Temple
Salt Lake City, Utah 84102
801-322-2252
Fax: 801-322-1590
Contact Us Today!
-Alta View Hospital -LDS Hospital
-Lake Park Office -Intermountain Medical Center
-Riverton Hospital -SelectHealth
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Murray Office
6007 Fashion Boulevard
Murray, Utah 84107
801-263-2185
Fax: 801-269-9963