Online Newsletter - Pagoda Federal Credit Union

pagoda
Volume 15, Number 4
Federal Credit Union
833 Washington Street
Reading, PA 19601-3658
610-373-3840
Fax: 610-373-4479
www.pagodafcu.org
Drive-up
Monday - Friday
7:30 AM - 5:00 PM
Understand Your Rights
Credit cardholders are entitled to protections:
Lobby
Monday - Friday
8:00 AM - 5:00 PM
Muhlenberg Office
4453 5th Street Highway
Temple, PA 19560
610-929-5791
Muhlenberg Hours
Monday - Wednesday
9:00 AM - 4:00 PM
Thursday and Friday
9:00 AM - 6:00 PM
Saturday
9:00 AM - 12:00 PM
Skyline
610-373-8078
TXT Banking
[email protected]
Mobile Banking
pagodafcu.org/mobile
HOLIDAY CLOSINGS
Martin Luther King Day
Monday, January 19
President’s Day
Monday, February 16
Choosing a
Credit Card
DECEMBER 2014
Carrying a credit card offers many advantages convenience, security, fraud protection and
sometimes even rewards for making purchases.
But with all the perks comes responsibility. You need
to manage credit cards wisely by understanding all of
the card's terms and conditions; stay on top of
payments; and realize the true cost of purchases
made with credit. Using a credit card is like taking out
a loan. If you don't pay your card balance in full each
month, you'll pay interest on that loan.
Choose Wisely
The best way to maximize the benefits of credit cards
is to understand your financial lifestyle - your money
needs and wants. Once you determine how you'll use
a credit card, it's important to understand all of the
card's features including:
• Annual Percentage Rates (APRs) and whether rates
are fixed or variable
• Annual, late and over-limit fees
• Credit limit on account
• Grace periods before interest begins accruing
• Rewards including airline miles or cash back
Stay Alert
Pay close attention to statements and notices
regarding the following:
•
•
•
•
•
Available credit
Balances
Payment due dates
Payment histories
Purchase activity
• Zero liability means you are not responsible for
fraudulent charges when you report them promptly.
• In some cases, you have the right to dispute
purchases with merchants for unsatisfactory
products or services.
Follow the 20-10 Rule
This general "rule of thumb" helps you understand how
much credit you can afford. Credit cards are loans, so
avoid borrowing more than 20 percent of your annual
net income on all of your loans (not including a
mortgage). And payments on those loans shouldn't
exceed 10 percent of your monthly net income.
Start off the new year by educating yourself about
YOUR credit cards. Contact the Credit Union to find
out more details on our Platinum Visa Credit Card
and how it meets your needs.
Together We’re Better
Attend the
Annual Meeting
As a member of the Credit Union, you may already know the
many benefits of managing your finances with us instead of
another financial institution. But did you know another BIG
difference between credit unions and banks all over the
world? Here at the Credit Union, you are part owner and may
participate in the election of the Board of Directors.
Join us as we celebrate the credit union
difference at this year’s Annual Meeting!
Thursday, March 19, 2015
4:15 p.m.
Muhlenberg office of the Credit Union
The agenda includes a review of the previous year’s
financial information, and an opportunity to visit with
Credit Union family and friends.
Hope to see you there!
BOARD OF
DIRECTORS
Sandra Hummel
Chairperson of the Board
Linda Thornburg
Vice-Chairperson
Marcia Conver
Treasurer
Amy Johnson
Secretary
5 Tips
for Safe
Mobile
Banking
Robert Hertzog
Craig Huntsinger
Cathy Weist
Supervisory Committee
Linda Thornburg
Chairperson
Maria Kantner
Jessica Shuman
Banking through
your phone or
tablet is quick and
convenient, but don’t forget these five tips to help keep
your money—and identity—safe:
1. Password-protect your phone or tablet so that
only you can access the information on your device.
This will help protect you if your phone or tablet is ever
lost or stolen.
2. Never provide personal information unless you
initiate contact with your credit union or other
financial institution. Financial institutions should not
request account numbers, Social Security numbers or
other sensitive information through email or text
messages. If you’re not sure about a request, contact
your credit union by calling the number on the back of
your debit or credit card.
Puffy Pal News
Saving is fun and
rewarding at Pagoda!
Birthday Wishes
Young members of Pagoda FCU enjoy
receiving “Happy Birthday” wishes during
the month of their birthday. Age
appropriate birthday offers are made for
items such as beanie animals, first check
orders and account deposits. Open an
account for your young depositor today!
Start Savings Early
Do you know a child that needs to start
a savings account? We have a great
program at Pagoda FCU that gives children
a piggy bank and a $5 deposit when an
account is opened before their first birthday.
Call us to find out what you will need to
bring with you to open their account.
Puffy
Happy Saving!
3. Don’t stay “auto-logged in” to your accounts.
Even though it’s convenient, it increases the risk that
an unauthorized user will access your accounts.
4. Delete old texts from your credit union to reduce
your exposure to fraud.
5. Report lost or stolen devices immediately to your
wireless provider and financial institutions.
Source: Washington Department of Financial Institutions
iPhone and
Android App
NOW AVAILABLE
Go to your APP store and
download Pagoda FCU’s
Mobile App for FREE!
Bill Payer Loan Special!
Holiday bills weighing you down this winter? Look to your Pagoda FCU for
just the loan to trim that weight off! Our Bill Payer Loan promotion is available
January 1, 2015 through February 28, 2015. Borrow up to $1,500 for a
maximum term of 12 months at a low 9% Annual Percentage Rate. With a rate
that low, think of the money you can save on credit card balances if you pay
them off with a Bill Payer Loan from the Credit Union. Call us today for more
information or to apply!
Page 2
New Year’s Resolution - Money Does Matter!
Did you resolve to be more financially responsible in 2015? Oh the pressure! Afterall, the way that you handle your
money has a huge impact on your life and can have a lasting eﬀect on your family's life as well.
All you really need is a plan. Start with the basics by educating yourself and determining your short- and long-term
goals. Three essential steps in your plan are knowing how to manage, grow and protect your money. Here are the three
New Year's resolutions you should be making.
Manage Your Money
Grow Your Money
If you can't figure out how to earn more,
spend less, save more, and pay down debt,
you won't have the assets you need to grow
your wealth. No matter what stage of life
you are in, learning how to live on less than
you make, borrowing money wisely and
using credit responsibly, as well as saving
money for unexpected situations are all
critical steps you must take. The bottom line
is that spending more than you can aﬀord
can have profound consequences on your
short- and long-term savings.
When it comes to saving, the earlier you start
the better. As you invest your savings, you
need to understand the diﬀerence between
potential profits and probable pitfalls so that
you're smart about investing. By investing
wisely, you can grow your money to help pay
for your child's education, buy your first home
or a vacation home, and—this is most
important—fund your retirement. Starting
early and saving regularly in a variety of
aggressive and conservative investments
based on your age and risk tolerance can help
you grow your nest egg to ensure a more
secure retirement.
Protect Your Money
Getting up to speed on retirement, tax and
estate planning methods can be the
diﬀerence in being able to retire on your
terms and leaving a legacy of financial
strength for your loved ones. Federal income
taxes can be a family's greatest annual
expense so planning is essential. Knowing
your tax liability before the annual April 15th
deadline is critical to finding ways to save
money and ultimately your overall financial
plan.
The Credit Union can help you find smart ways to mange, grow and protect your money with
products and services that meet your everyday needs.
You can be financially responsible - make 2015 the year you keep your resolution!
StoptheDataBreaches.com
When a data breach occurs, merchants are not required to pay the costs of the fraudulent charges an
individual may have on their cards or accounts. Who is stuck paying these costs for data breaches? Your
Credit Union—and ultimately, credit union members like you. The credit union is left to clean up the mess
when a merchant data breach occurs by informing our members and reissuing new credit and debit cards
if required. In addition, we will pursue criminals through available legal channels on behalf of our
members, saving them time and legal expenses. Ensuring members’ data safety is a top priority of your
credit union.
We urge all members to take immediate action to contact legislators asking them to hold merchants
accountable for their data breaches. Tell Congress merchants should be required to reimburse credit
unions for the costs they incur as a result of merchant breaches. Let Congress know that credit unions
should be able to tell their members the name of a merchant causing the data breach. Contact your
Member of Congress by visiting StoptheDataBreaches.com and click on the “Take Action” link.
Page 3
Products & Services
RATES
The Board of Directors of Pagoda Federal Credit Union has
declared that dividends will be paid at the following rates for
the 4th quarter of 2014. All dividends are calculated on the
average daily balance.
Saving/Interest Rates
APR
Share Account . . . . . . . . . . . . . . $100 to $2,499.99 . . . . . . . . .03% . . .
$2,500 to $14,999.99 . . . . . .04% . . .
$15,000 + . . . . . . . . . . . . . . . .05% . . .
APY
.03%
.04%
.05%
Money Market Account . . . . . . . $2,500 to $9,999.99 . . . . . . .05% . . . .05%
$10,000 + . . . . . . . . . . . . . . . .07% . . . .07%
Christmas and Vacation Clubs . $100 to $2,499.99 . . . . . . . . .03% . . . .03%
$2,500 to $14,999.99 . . . . . .04% . . . .04%
$15,000 + . . . . . . . . . . . . . . . .05% . . . .05%
Individual Retirement
Accounts Accumulative . . . . . . $100 to $2,499.99 . . . . . . . . .03% . . . .05%
$2,500 to $14,999.99 . . . . . .04% . . . .10%
$15,000 + . . . . . . . . . . . . . . . .05% . . . .15%
Share Certificates . . . . . . . . . . . . 12 months . . . . . . . . . . . . . .10% . . . .10%
(Minimum $500. Penalty for early withdrawal.)
Loan Interest Rates – effective 11/20/2014
Signature . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00%
Share Secured . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.85%
(Pledge your savings as collateral and still earn dividends)
New
24 - 48 months . . . . . . . . . . . . . . . . . . . . . . . . . . 3.50%
60 months . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.75%
72 months . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.00%
Used
24 - 48 months
60 months
72 months
24 - 36 months
60 months
2015 - 2012 . . . . . . . . . . . . . . 3.50%
2015 - 2012 . . . . . . . . . . . . . . 3.75%
2015 - 2014 . . . . . . . . . . . . . . 4.00%
2011 . . . . . . . . . . . . . . . . . . . . 4.75%
2010 . . . . . . . . . . . . . . . . . . . . 5.75%
2009 . . . . . . . . . . . . . . . . . . . . 6.75%
2008 . . . . . . . . . . . . . . . . . . . . 7.75%
2007 . . . . . . . . . . . . . . . . . . . . 8.75%
2006 . . . . . . . . . . . . . . . . . . . . 9.75%
2011 - 2006 . . . . . . (same as above)
(Available when borrowing $20,000+)
Antique & Classic . . . . . . . . . . . . . . . . . . . . . . . . 5.00%
(Financing does not include taxes, tags and registration)
Second Mortgage
1 - 5 year repayment terms . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.50%
6 - 10 year repayment terms . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.75%
11 - 15 year repayment terms . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.25%
Home Equity Line-of-Credit . . . . . . . . . . . . . . . . . . . . . . . (call for current rates)
VISA Credit Card . . . . . . . . . . . . . . . . . . Due to compliance regulations, call for
current rate or check www.pagodafcu.org.
Some rates may be subject to change without prior notice.
Page 4
Savings and Investment Options
All dividends are calculated on the average daily
balance.
Share Savings Accounts - The minimum balance
required is only $5.
Christmas Club - No minimum balance. Penalty
for early withdrawal. No required deposit amount.
Vacation Club - Save for any reason. No required
deposit amount. No minimum balance. Penalty for
early withdrawal.
Money Market - $2,500 minimum to open.
Share Certificates - $500 minimum to open.
Penalty for early withdrawal.
Individual Retirement Accounts - Traditional, Roth,
Coverdell Education Savings Accounts.
Accumulative IRA - Start with $10 and build at your
own pace or make a lump sum deposit. May be
payroll deducted where available.
Loan Options
VISA Credit Card - No annual fee, Travel/accident
insurance at no cost.
Signature
New and Used Auto
Second Mortgage
Home Equity Line of Credit
Share Secured
Checking Option
Share Draft/Checking Account
• No minimum balance
• No per check or monthly fees
• Overdraft protection available
• VISA Check Card available
Additional Services
Payroll Deduction
Direct Deposit
Notary Service
Postage Stamps
Money Orders
Cashier Checks
Certified Checks
VISA Travel Money Card
Online Services
eStatements
Bill Payer service
TXT Banking
Mobile Banking
“Skyline” Audio
Response
Wire Transfers
Western Union
VISA Gift Card
Membership
Membership is open to anyone who lives,
works, worships or attends school in and
businesses and other legal entities in Berks
County, Pennsylvania. Our policy is also once
a member always a member as long as you
maintain a balance equal to one share ($5.00).

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