First Class NewsletterClick here to download the Spring 2017 Newsletter
Dates to RememberInclement Weather Closings
In the New York area call (631) 434-3500 or (888) 268-2768, ext. 8 for information.
Apply until June 30, click here.
May 1 – July 31
Enterprise Car Sale in Hauppauge
8:30 a.m. – 2:00 p.m. Saturday, May 13
Sunday, May 14
Thursday, May 18
Monday, May 29 All PAFCU offices closed ATM, Tel-Me and Website services available.
Senior Day in Hauppauge
Tuesday, June 13
Try Checking The Credit Union Way
Chances are if you're still checking somewhere else, you're not getting the best deal you can on your account. That's because credit union checking accounts almost always cost less. According to the financial website Bankrate.com 2016 Credit Union Checking Survey: "If free checking is a priority for you, it's clearer than ever the place you're most likely to find that is credit unions, not banks." The Bankrate survey also found lower fees for overdrafts and ATM use. So if you're "fee-ed" up, it's worth your while to try checking the credit union way. We think you'll find a checking account that best meets your needs and we'll make the transition as easy as possible. So check out pafcu.org for more information and then call on us to help you make the switch. You'll be glad you made the effort.
Remote Deposit: Snap, Tap And Go
When your life is in the fast lane, you may not have the time to take the exit for a stop at PAFCU. While we always enjoy seeing you, we understand that it's not always convenient to drop by the credit union to deposit a check. That's why we now offer the ease of depositing a check with a few taps. Here's how it works: Use the credit union's remote deposit capture available in our Mobile App, scan and upload check images for electronic deposit into your account. You'll simply take a picture of both sides of the check and then send them to us. It's a safe, fast way to make a deposit - anytime day or night, even on weekends. Visit us online or stop by when you're in the neighborhood and we'll help you go mobile. Then next time you need to make a check deposit, you'll snap, tap and be on your way!
You're Never Too Young To Start Saving For Retirement
You may be young and the notion of retirement seems like part of the distant future. However, it can't hurt to begin saving for your "golden years" now. In fact, many financial experts actually recommend starting to save for retirement in your 20s, when you are young and still earning income. An ideal way to plan for your financial future is with a credit union IRA.
Many IRA options provide qualified members with tax benefits such as tax-deductible contributions and tax-deferred compound interest (consult your tax advisor for details). In addition, an IRA allows you to:
- Earn higher dividends compared to a traditional Savings Account
- Contribute as often as you like
- Choose the IRA to meet your goals (Traditional, Roth, Coverdell Education)
- Take possible penalty-free withdrawals for first-home or higher education purchases
- Do all of this without set-up and maintenance fees
Take steps now to guarantee a secure, comfortable retirement income down the road. Your credit union offers a variety of IRAs, either in a regular IRA Share Account or an IRA Share Certificate. You have until April 15, 2017 to make a 2016 contribution. To contribute to, or establish your IRA today, call, visit pafcu.org, or stop by any branch location.
Put High Payments In The Rear View Mirror
New Auto Rates as low as 1.74%**
Used Auto Rates as low as 2.19%**
Whether you need new wheels or are still cruising along in your current vehicle, be sure you see PAFCU about financing. With a loan from PAFCU, you can put high payments in the rear view mirror.
If you're in the market for a vehicle - whether it's new or just new to you - stop by the credit union for a pre-approved loan. A pre-approved loan will put you ahead when it comes to shopping for the wheels that best fit your needs because you can shop like a cash buyer. The special rate financing at the dealer may seem as though it can't be beat. But remember those low rates usually apply only to certain makes and models - often the slow-moving versions on the lot. Start your search online at pafcu.org and click on Everything Automotive.
If you already have a vehicle loan from elsewhere, we think you deserve a second chance. All members who transfer a loan from another financial institution will receive 1% cash rebate of the loan amount transferred.* Contact the credit union and tell us about your current rate and terms.
Sample Payment for Purchasing a New Vehicle:
Purchase Price: $20,000
Term: 60 months
Interest Rate: 1.74%**
* This offer does not include real estate secured, credit card and line of credit loans. Rebate up to $250. Additional terms and conditions may apply.
**Annual percentage rate is the lowest rate offered to applicants with direct deposit of net pay and a checking account. All loan requests are subject to credit approval. This offer cannot be combined with any other offer.
Getting A Tax Refund?
Are you getting a tax refund and wondering what to do with that extra cash? Here are some suggestions on how to use your tax refund:
- Ladder Share Certificates with People's Alliance. It works like this: Say you have $2,000 to invest and you purchase four $500 certificates for terms of 3 months, 6 months, 1-year and 18 months. When the first certificate matures you are able to roll it over to an 18-month term, knowing that your 6-month certificate will be maturing in 3 months should you need the funds. By moving your certificate terms up the ladder, you will be able to earn a higher dividend rate without the worry of having your money tied up.
- LadderOpen a Credit Builder Loan. If you have credit problems or no credit, it's a great way to start in the right direction.
- LadderJump-start your IRA contribution for 2017 or open an IRA.
- LadderPay down credit card debt.
- LadderMake an extra house payment or pay extra on the principal.
To Get Your Refund Faster
If you are planning on having your tax refund direct deposited into your PAFCU account, be sure to give the person who prepares your taxes or the I.R.S. your member number and PAFCU's routing number, which is 226076135. Do not give a voided check.