Summer 2010 - Atlantic City Electric Company Employees FCU

Summer 2010
Publication Of Atlantic City Electric Company Employees Federal Credit Union
Inside
Federally Funded
Peace Of Mind
Put The Thrill Back In Driving
On The Web
Getting Ready For
Back-To-School
Make Saving
A Priority
Back-to-school reminds us how fast
time goes by. Just yesterday your
child was a wobbly toddler and now
he is heading off to kindergarten. Or
maybe your kindergartener is now
a college freshman. Wherever you
are on your life’s journey, time really
does fly!
That is why saving for the future –
whether the near or short term – is
one of the most fundamental steps in
good money management. We offer
a variety of saving and investment
services to meet your many needs.
n Savings Accounts
n I ndividual Retirement Accounts
(IRAs)
n Share Certificates
n Savings Club Accounts
n Star Savers Club
Be Ready For Tomorrow
Being prepared is the best way to
enjoy the here and now. To get
started, call us at (609) 625-6928,
visit us online at www.acecefcu.org
or stop by the credit union.
We Have Money To Lend
While many financial institutions are tightening their consumer-lending belt and credit
is hard to get, we want you to know that we have money to lend and we’re still making
loans! Tackle your summer projects before the chilly months arrive.
Low-Cost Solutions
Choose a Home Equity Loan to tackle
any task, big or small. Borrow against the
accrued equity in your home to make home
improvements, head off on a vacation, fund an
education or consolidate your debt. This loan
makes everything affordable and may be tax
deductible.**
Even if you aren’t a homeowner or have not
built up sufficient equity in your home, you
can take advantage of Atlantic City Electric
Company EFCU’s great rates and flexible terms.
Our Personal Loan is a perfect solution, since
you can use it to fulfill any need. Take advantage
of the benefits credit union membership brings.
We Make It Easy To Apply!
To learn more or to apply, stop by the credit
union or visit www.acecefcu.org. You can
even call our 24-Hour Whenever Loan line at
(866) 866-1956 for more information.
*APR=Annual Percentage Rate. Rates effective 07/01/10. Other rates and
terms available. Rates subject to change without notice. For Home Equity
Lines of Credit, the rate is based on the Prime Rate as published in
The Wall Street Journal.
**For Home Equity Loans and Lines of Credit, consult your tax advisor
for tax-deduction eligibility. Contact the credit union for complete
loan details.
APR*
Home Equity Loan
%
5.50
APR*
Fixed Rate – 5 Years
Personal Loan
%
12.00
48 Months
APR*
Federally Funded
Peace Of Mind
Especially with the fluctuating
stock market and many of the
“big banks” failing, merging or
being bailed out, we want to
assure you that your credit
union is safe and dependable.
At ACECEFCU, you never have
to worry about the safety and
security of your investments.
Federal insurance on your funds
has increased, so all deposits you
make at the credit union are now
insured to at least $250,000 per
account by the National Credit
Union Administration (NCUA),
which provides protection through
the National Credit Union Share
Insurance Fund (NCUSIF). IRAs
are insured separately for up
to $250,000. This means your
investments at your credit union
are backed by the full faith
and credit of the United States
government.
To learn more about how
your money is insured, visit
www.ncua.gov or
stop by the credit
union. We are
happy to answer
any questions
you have!
Put The Thrill Back In Driving
When you are in the market for a new vehicle, you are bombarded with many
choices. When you weigh your options, you will find getting a vehicle for less is
possible when you finance through your credit union. With a Vehicle Loan from
ACECEFCU, you get a trustworthy loan with flexible terms you can afford.
We want your vehicle purchase to be a sound financial investment, and we don’t
want you treading water financially each month to pay for it. The great prices
available on vehicles make it an exciting time to make a purchase; the sound rates
and terms at ACECEFCU make it a smart time to do so. Cash in on this deal and
finance your next new or used vehicle at your credit union.
Apply Today
To drive off with the best vehicle loan, stop by the credit union or apply online at
www.acecefcu.org. If you have questions, give us a call at (609) 625-6928.
New & Used
Vehicle Loans
Rate As Low As
5.50% APR*
Terms Up To 72 Months
On The Web
Something For Everyone
Each of our members has unique needs, and our website offers tools to meet them
all. From our youth members to those getting ready for retirement – and everyone
in between – we have information and interactive resources for everyone and tools
for every life stage need.
Holiday Closings
The credit union will be closed to
observe the following holiday:
Labor Day
Monday, September 6, 2010
The youth of today expect engaging and interactive websites. That’s why we
provide tons of choices on our site. From Googolplex for our youngest members to
cha-ching!SM for teens, and the edge,SM MoneyMix™ and Guides to Independence for
young adults, we’ve got something that’s fun and meets expectations at every age.
For the rest of our membership base, we provide tools to educate you and make
your life easier. The Anytime Adviser series is filled with useful information
for purchasing a vehicle and a home, and PlanIt™ is a cutting-edge retirement
planning tool that will help you get ready for the future. We also provide access to
LifeLock – which will help you protect your identity – and many budgeting tools
and calculators.
Check out these resources on our website by heading to www.acecefcu.org. A
stronger future is a click away!
From The Desk
Of Your Credit Union President
Getting Ready
For Back-To-School
Glad You Asked!
The start of a new school year is always busy.
Whether it involves heading off to college, jampacked extra-curricular activities or busy car pools,
you have less time to yourself when school is in
session. These products can help you streamline
your money management and keep you at the head
of the class.
A member recently asked if any of our members ever won during the
quarterly promotions for our bill pay service. And the answer is – Yes! We
have a winner every quarter! I have the opportunity to send a gift card
to a lucky member each and every quarter. Although we have not had a
grand prize winner yet, we have had 4 winners per year. In the future, I will
contact the member for permission to release their name and prize!
We have also had recent inquiries into what alternatives we have for IRA
funds. Traditionally we have only offered the regular IRA share account with
the quarterly dividend and the 30 month CD. However, we now offer IRA
CDs with maturities ranging from 6 months to 60 months in addition to
the regular IRA savings. This allows you to structure your IRA with a ladder
of maturities to supplement your IRA share account. Remember our IRA
accounts are insured up to 250,000.00, and your principal is not subject to
the fluctuations of the stock market. Our CD rates do change weekly on
Tuesday, so if you are interested, please call our office toll free at
1-888-228-9887 or local at 609-625-6928.
August begins the annual “Back to School” sales for books, clothing,
backpacks and supplies and your credit union would like to remind you
that one of the best school supplies for college bound students is a share
draft account with their credit union, complete with a debit card, e-statements
and on line banking. We recommend a parent also be a signer on the account
so they have access to balances and other information that may be necessary
over the term. Don’t forget our website www.acecefcu.org offers several
money management sites for students and members of all ages.
I would also like to take this opportunity to remind members that we do
have money to lend. If you are looking for a loan for a new or used auto, a
personal loan for any number of reasons or a home equity loan with either
a variable or a fixed rate, consider your credit union. That is why we are
here. Our source of funds is the deposits our members place with us – it is
not only your money, it is also the money of your fellow employees and
their families. That is why we ask for your cooperation when paying back
your loan. If your credit union suffers a loss due to the chargeoff of a loan
balance – it is not some “big bank from somewhere,” that suffers the loss – it
is all of our members. To the credit of our members – the losses at Atlantic
City Electric Company Employees Federal Credit Union have been below
the national average, however we do see losses.
Remember your credit union is different from many other financial
institutions – loan applicants are viewed as individuals, not a number and
we are aware circumstances vary with each member and loan request. Every
loan application is reviewed individually with respect to the individual(s)
and the loan purpose. We try hard to meet your loan needs and at the same
time, we try hard to help if you are in financial difficulty.
We appreciate your loyalty to your credit union and do our best to earn
your trust. Let us know how we can help you.
Sincerely,
Virginia Morrissey
President/CEO
Share Draft (Checking) Accounts – If you are
tired of paying high fees for your checking account
elsewhere, switching to an Atlantic City Electric
Company Employees Federal Credit Union Share
Draft Account is for you. This flexible account will
be there for you from Back-To-School shopping to
finals week – and through whatever the school year
throws your way.
Debit Cards – Offering extreme convenience,
your Share Draft Account comes with a FREE
MasterCard® Debit Card, which gives you access
to “checkless checking.” Doubling as an ATM
Card, this powerful piece of plastic gives you the
purchasing power of a credit card yet draws from
your Share Draft Account. It can be used whether
the school year takes you across town or across the
country.
ACE-LINK – ACE-LINK Customer Service provides
you with several ways to stay connected 24 hours
a day, 7 days a week. ACE-LINK’s Home Banking
service allows you to access your account via the
Internet to manage and review your account.
ACE-LINK also provides you with access to Bill Pay,
which is service that makes paying your
bills simple.
E-Statements – The easiest way to receive your
monthly statement is to enroll in this e-service,
which delivers your statement to your inbox on the
first of the month. Especially during a busy school
year, this service helps your accounts stay secure
and helps you stay organized.
Direct Deposit – Chances are, your busy schedule
doesn’t have time for trips to the credit union just
to deposit your check. That’s where Direct Deposit
comes in. Enroll in this incredibly helpful service
and every pay-day your funds will be available with
no extra work from you.
Enroll Today
Sign up for these services by visiting
www.acecefcu.org or stop by the
credit union offices.
Made A Change Recently?
Rates
If you’ve changed your street address, e-mail
address or phone number, be sure you contact
the credit union. Updating your personal
information is the first step in good money
management and protects your identity.
Savings
Update The Fast And Easy Way
Term
Personal Loan
4 years
3 years
2 years
Stop by the credit union, give us a call at
(609) 625-6928 or visit www.acecefcu.org.
Share Draft/Checking
Regular Share Savings
IRA Shares
APR
0.40%
0.75%
0.75%
Loans
New Auto Loan
up to 72 months*
APY
0.40%
0.75%
0.75%
APR
12.00%
11.00%
10.00%
5.50%
Used Auto Loan
Model years 2006 - 2009
up to 72 months*
5.50%
Model years 1998-2005
48 months max. term**
5.50%
*Term of 72 months and 100% financing depends upon
creditworthiness
**Up to 100% financing depending on creditworthiness
†Prime Rate as quoted in The Wall Street Journal on the
last business day of February, May, August, and November.
All percentages quoted at Annual Percentage Rate (APR).
RV Loans
New & Used RVs Up to 12 yrs
6.75%
Boat Loans
New Boat
12.00%
Share Secured
3 yearsAmount in
Share Accounts
5 yearsAmount in
Share Accounts
2.55%
3.75%
Total amount of loan must be secured by
shares in account.
Home Equity Loan Fixed Rate
15 years 10 years
7 years
5 years
7.75%
7.50%
5.75%
5.50%
Home Equity Loan Variable Rate
Effective 07-01-2010 – 09-30-2010
3.75%
Please check with the credit union for additional
information, draw schedule, and repayment terms.
Prime Rate + 0.5%
†
MP-10-00639 8/10 Marketing Partners (888) 641-1215
www.acecefcu.org
Website
(866) 866-1956
Whenever Loan
CALL-24: 1-800-759-0145 or (609) 625-8263
Telephone Banking
Lobby Hours
Tuesday & Friday: 10:00 a.m. – 2:00 p.m.
5 Collins Drive, Suite 1200
Carney’s Point, NJ 08069
Office: (856) 351-7224
PRSRT STD
U.S. Postage
PAID
Lehigh Valley, PA
Permit #550
Carney’s Point Office
Lobby Hours
Monday – Thursday: 8:00 a.m. – 4:30 p.m.
Friday: 8:00 a.m. – 5:30 p.m.
Drop box available for after-hours deposits located at the top
of the ramp by the Credit Union entrance in Mays Landing.
5100 Harding Highway, P. O. Box 368
Mays Landing, NJ 08330
Office: (609) 625-MYCU (6928)
Toll Free: 1-888-228-9887
Fax: (609) 625-5385
Mays Landing Office
Details on Page 1
We Have
Money To Lend