Fall 2008
Penn East FCU Has $3 Million Dollars To Lend!
 Get $1,000 Toward Your Closing Costs!*
When you close on any new or refinanced Mortgage, you’ll receive $1,000 toward your closing costs. Whether you’re buying your new dream home or refinancing a high interest rate Mortgage from another financial institution, you’ll get our money-saving low rates and keep $1,000 in your pocket at closing time! Apply today!
Penn East Mortgages Are Safe!
Although the mortgage crisis has created a lot of distress in the banking system, be assured that Penn East has never offered highrisk loans and has not been affected by this unfortunate situation. It’s business as usual at Penn East, serving members with integrity and security!
*The $1,000 towards closing cost offer applies to newly approved residential mortgage loans (excluding refinances of Penn East mortgages). The $1,000 credit will be applied to closing costs. Applications must be received by November 14, 2008. Member must pay any mortgage satisfaction fees at loan termination. Property insurance is required. Loans are subject to credit approval. Rates and terms are subject to a review of applicant’s credit.
**APR=Annual Percentage Rate. Rates shown are for qualified borrowers and are based on creditworthiness. Rates and terms are subject to change. Home Equity Line of Credit Introductory Rate of 1.80% APR will revert to our regular variable rate in effect at the conclusion of the 6 month period (currently variable rate 4.50% APR). Minimum Home Equity Line of Credit is $7,500 maximum loan amount of 90% of appraisal value less mortgage balance if applicable. Membership required – a $5 balance in Share Savings required to open & maintain membership.
TOP
Penn East Hosts Congressman Kanjorski
Penn East FCU recently hosted an event for Congressman Paul E. Kanjorski (D-Pa.) at the Scranton Office of the credit union. We would like to thank the Congressman for his long-standing support of the Credit Union Movement.
| Congressman Paul Kanjorski speaks with Board Member Ellen Matthews and CEO Jeff DeBree. |
Board Members and Staff of Penn East Federal Credit Union gather for a picture with Congressman Paul Kanjorski. |
TOP
Banking Crisis? Not At Penn East FCU!
You’ve seen the headlines about the alarming state of some financial institutions. The entire banking and mortgage industry is under a dark cloud and turning to the government to bail them out, leaving taxpayers to foot the bill.
Penn East FCU never made a practice of offering high-risk loans and is not a part of the sub-prime mortgage crisis. Our lending policies are determined by a board elected from among our members. As a non-profit organization, we are not driven by profits. We are driven by serving you, our members.
Fortunately, if the difficult times have proven anything, it’s that members can count on the safety and security that we provide. As a member of Penn East FCU, you can rest easier knowing that the trust you have in your credit union is well placed. Currently, Penn East FCU has over 14% capital, earnings well above average, and a 5-Star Superior rating from Bauer Financial.
At Penn East FCU it’s business as usual, serving members with integrity and security. For additional information please contact us or visit NCUA’s website.
TOP
Holiday Expenses Made Easy
If your budget is strained this year and you’re worried about how to pay for gifts, travel and other holiday expenditures, Penn East FCU has the perfect solution for you! Relieve your financial stress by taking advantage of our low rate Holiday Loans! Beginning November 1 you can borrow up to $4,000 for your holiday needs. Make this joyous time of year memorable.
Holiday Closings
Columbus Day
Monday, October 13
Veterans Day
Tuesday, November 11
Thanksgiving Day
Thursday, November 27
Christmas Eve (closing at noon)
Wednesday, December 24
Christmas Day
Thursday, December 25
New Year’s Eve (closing at noon)
Wednesday, December 31
New Year’s Day
Thursday, January 1
THANKS TO ALL
Penn East FCU would like to thank all the employees and Board of Directors volunteers who worked at the potato pancake stand on July 26 at the St. Joseph’s Center Auxiliary Annual Summer Festival. We’d also like to thank all who volunteered on Team Penn East FCU at the annual Susan G. Komen Race for the Cure.
*APR=Annual Percentage Rate. Loan and rate based on creditworthiness. Offer valid 11/1/08-12/31/08. Maximum loan amount is $4,000 (total unsecured debt with Penn East FCU not to exceed $20,000). Contact a loan officer for more details.
TOP
Dreaming Of A White Picket Fence?
For Home Mortgages, there’s no place like Penn East FCU. We offer a full range of
home financing products at competitive rates. Whether you’re buying your first home or refinancing, Penn East FCU is your place for great rates, low fees and high-quality service.
Mortgages Made Painless!
Penn East Federal Credit Union has a variety of financing options to meet the wide-range needs of our members. Choose from:
Fixed Rate Mortgages – consistent payments for the entire term of your Mortgage –
you can pick the term that’s right for you. This is a good solution if you are planning to remain in your home for a prolonged period or if you are on a fixed budget.
Adjustable Rate Mortgages – lower payments than a Fixed Rate Mortgage, giving you extra buying power – you can get more house for the same amount of money! Monthly payments and the interest rate vary, but you are protected from large, sudden increases by built-in caps.
Jumbo Loans – loan amount above the industry-standard definition of conventional conforming loan limits. If your financing needs are greater, a Jumbo loan may be the right choice.
Unique Loans – If your needs don’t fit within the framework of more traditional loans, our 7-Year Balloon loan might be a good choice.
Refinancing Also Available! Ask Us For Details!
 You’re Safe With Us
As a member of Penn East FCU, you can relax knowing your money is safe and sound with us. We have never offered sub-prime Mortgage loans and always go out of our way to make sure members get a Mortgage they can afford. We counsel borrowers through the entire home-buying process and help them find affordable home loans.
Apply Today!
Whether you’re purchasing a new home or refinancing your existing loan, Penn East FCU will find the perfect Mortgage for your needs. Visit www.penneastfcu.org and click on the Mortgage Center to learn more and to apply on-line, or call (570) 342-2720 to speak to a loan officer today!
TOP
Refer A Friend
We value your business and know that you appreciate the outstanding service we provide. This is our way of saying “thanks” for spreading the word about us to your friends and family.
Refer a new member to either our Scranton or Clarks Summit Office and receive $20 deposited to your Share Account when they join! It’s easy – just ask your referral to list your name on their signature card under the “Referred by a friend or family member” section and we’ll take care of the rest!
TOP
Looking To Go Green?
 Sign up for our FREE e-Statements and help reduce paper usage! e-Statements make managing your finances easy. Rather than waiting to have your statement mailed to you, you can quickly see all of your account activity online (Home Banking is required).
e-Statements also offer safety and security. Your statement is encrypted, just like the rest of your Home Banking account information, while access to that information is protected by your username, password and multi-factor authentication (your selected photo and security questions). You’ll not only have quicker access to your monthly statement, you’ll also enjoy the convenience of 12-month online storage.
If you already use Home Banking, you can sign up for e-Statements online. Simply log in to Home Banking, click on the Services link and enter your e-mail address where indicated. Select e-Statements Only (Do Not Mail), submit your changes and you’re done! Not using Home Banking? Call or stop in for an application today – it’s FREE!
TOP
Congratulations Scholarship Winners!
Penn East FCU would like to congratulate Samantha Irving and Renae Fisher. These students each received a $2,500 scholarship for their winning essays, academic excellence, citizenship and community and school involvement. Information on the 2009 scholarship contest will be available in the winter newsletter.
| CEO Jeff DeBree (left), and Chairman of the Board of Directors Joe Hogan (right) recently presented one of the two 2008 Penn East FCU Lani McCrone Memorial Scholarships to Samantha Irving, Lackawanna Trail. |
Charlene Jeffers, Operations Manager, presented one of the two 2008 Penn East FCU Lani McCrone Memorial Scholarships to Renae Fisher, Scranton High. |
My Credit Union: It Belongs to Me
Since 1948, credit unions around the world have come together each year to celebrate the credit union difference. This year’s celebration will take place on October 16th.
 This year’s theme is “My Credit Union: It Belongs to Me.”
International Credit Union Day ® celebrates the history, tradition and spirit of the international credit union movement – and those that own it, you!
TOP
|
