AFCU Money Matters - Winter 2008 - (Page 2)

president’s message FROM THE PRESIDENT IN THIS ISSUE 3 4 6 8 11 13 14 15 News You Can Use Member Tips What’s Next? Motley Fool: A Tale of Two Borrowers Jean Chatzky: Extreme Jobs The Good Life Home Matters Money Smarts Welcome to the winter issue of Money Matters, American First Credit Union’s quarterly member magazine. We encourage you to review the articles in this issue focusing on trends — financial, social, cultural and political. Trends influence our decisions and spending patterns, and help shape our values, dreams and goals. At American First, we’re here to help you make sound financial decisions that last throughout various trends and provide you the products and services you need to achieve long-term financial success. In recent months, one trend among some financial and mortgage institutions has been the practice of offering customers subprime mortgage loans. Subprime lending is a risky practice of making loans to borrowers who do not qualify for the best interest rates because of their credit history. This practice has caused a financial crisis in the mortgage industry. Many of these types of mortgage lenders are laying off employees and are either closing their doors or facing bankruptcy. In addition, homeowners who have these loans are either losing their homes to foreclosure, or struggling to make house payments they cannot afford. We are pleased to report that the subprime lending trend is one American First does not fundamentally agree with nor participate in. Our board of directors and management team decided long ago that protecting our members’ money was of the utmost importance and we do not deal in the dangerous mortgage lending business. It is clear that trends will come and go, but one thing that will not change is our commitment to remaining financially strong for our members, so we can provide you the products and services you need to achieve your own financial strength and security. On behalf of all of us at American First, thank you for your membership and for your support and participation in your credit union. Sincerely, MONEY TIPS Pay Bills While Abroad My wife and I recently retired and have been enjoying our time traveling. Before we left for our one-month vacation in Australia, I used the online bill payment system to automatically pay my bills while we were gone. We thoroughly enjoyed our vacation knowing our financial obligations were being handled even though we were thousands of miles away. And, because it was so convenient and easy to set up, I’ve decided to pay our bills automatically every month from now on! Michael S., La Habra, Calif. Get Account History and Transactions Online I recently needed to buy some books at the college bookstore, but I wasn’t sure how much money I had in my checking account, or if my paycheck deposit had cleared yet. While sitting in the bookstore, I turned on my computer and logged on to Home Banking. Within one minute I had all of my current transactions and account balances. My deposit had cleared earlier in the day, so I purchased my books and made it to class just in time. Dawn P., Placentia, Calif. Our members have some of the most innovative ways to save money and use their AFCU accounts. Do you have a tip that you’d like to share? Send us an e-mail at moneymatters@amerfirst.org. If we publish your tip in the magazine, you win a $25 gas card. Please include your name and mailing address. It’s Never Too Early to Save for the Holidays As a single mother of two daughters, it’s hard to keep up with the Joneses … especially around the holidays. In early 2007, I opened a Holiday Club account so I could save enough money to buy the girls nice presents for Christmas. I deposited a little bit each month, and by November, I had the extra money I needed to fulfill their wish lists! I’ve already started saving in my Holiday Club account for next Christmas! Jennifer T., Buena Park, Calif. FEEDBACK We’d love to get your feedback about Money Matters. Visit us at www.vitalresearchsurveys.com/AmericanFirst to complete a short survey and tell us how we can help you achieve financial success. Bob Street President/CEO 2 WINTER 08 http://www.vitalresearchsurveys.com/AmericanFirst

Table of Contents Feed for the Digital Edition of AFCU Money Matters - Winter 2008

AFCU Money Matters - Winter 2008 Contents News You Can Use Member Tips What’s Next? Motley Fool: A Tale of Two Borrowers Jean Chatzky: Extreme Jobs The Good Life Home Matters Money Smarts

AFCU Money Matters - Winter 2008

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.