Spring 2008
Home Equity Spring Savings!
 Springtime is a great time to make home improvements, add a room to your home,
consolidate debt, or even take a vacation with a Home Equity Loan from Penn East
FCU! No Closing Costs, No Points, No Appraisal Fee and No Application Fee!
Home Equity Line Of Credit
Borrow against your home’s available equity
(minus the balance of your first Mortgage) with
our low, six-month introductory rate. After
the introductory period, your Line will then be
subject to our low, regular variable rate for the
remainder of the term.
Your Home Equity Line of Credit allows you to
draw on the available funds as needed. After a
10-year draw period, the balance will then be
subject to repayment terms of five to 10 years,
based on balance.
Home Equity Loans
Also Available
Already have a specific project in mind? Borrow
against your home’s available equity (minus the
balance of your first Mortgage) with a great low,
fixed rate for the life of your loan. Remember, the
interest on a Home Equity Loan or Line of Credit
is tax-deductible for most members – consult
your tax advisor for full details.
Earn A $100
Cash-Back Bonus!*
Celebrate or start out your project on us
with a Cash-Back Bonus at loan closing.
Borrow $20,000 or more and receive $100!
Borrow up to $20,000 and receive $50!
Refinance & Save
Do you have a higher interest loan from another
institution? Refinance at our lower rates to save
on interest and lower your monthly payments!
Want to refinance your current Penn East FCU
Home Equity Loan? Ask a loan officer
for assistance.
Apply Today!
Stop in to speak with a loan officer to apply.
You can also apply after hours by calling our
After Hours Loan Center at (570) 342-2720 and selecting Option 3. Members with Home
Banking can apply online. It's easy!
*APR=Annual Percentage Rate. All rates shown are for qualified borrowers and are based on creditworthiness. Rates are subject to change without notice. Home Equity Line of Credit Introductory rate of 1.70% APR will revert to our
regular variable rate in effect at the conclusion of the 6 month period (currently as low as 5.75% APR), subject to change quarterly. Minimum Home Equity Line of Credit is $7,500, maximum loan amount of 90% of appraisal value less
mortgage balance if applicable. During 10 year draw period of HELOC, payment is calculated by using balance x 1.25%. Minimum Home Equity Loan amount is $1,000, maximum loan amount is 90% of appraisal value less mortgage
balance if applicable. Primary PA residences only. Membership required: a $5 balance in share savings required to open and maintain membership. Consult your tax advisor for tax-deduction eligibility. Loans must be from another
financial institution to qualify for refinancing. Cash-Back Bonus will be deposited into Share Savings Account at loan closing. Offer valid 3/1/2008 - 5/31/2008.
TOP
Save With Our Go-Green Vehicle Loan Special!
Save money on your Vehicle Loan this spring when you "Go Green!" You can receive a discount of up to .70% APR* off your qualifying Vehicle
Loan rate by adding these electronic and environmentally-friendly "E" Services to your Penn East FCU account:
- Receive .25% APR* off your qualifying Vehicle Loan rate when you pay
through Payroll Deduction or when you auto-charge your payment.
- Receive .25% APR* off your qualifying Vehicle Loan rate when you have
a Checking Account with a free Debit MasterCard® (choose from free
Checking, Premier or Advantage Checking), plus you sign up for free
Online Home Banking and free E-Statements.
- Receive .20% APR* off your qualifying Vehicle Loan rate when you
purchase a hybrid vehicle.
Apply Today and receive a free gift!
This offer is valid until June 30, so stop in and speak with a loan
officer today! We'll give you a free organic tote bag with your completed
loan application.
Go Green At Penn East FCU Today And Save Some Green!
*APR=Annual Percentage Rate. Discount of up to .70% APR will be applied to rate received based on creditworthiness.
Hybrid vehicle status determined by dealer. Offer valid 4/1/08-6/30/08. Contact the credit union for complete offer details.
TOP
 Annual Meeting
Penn East FCU's 70th Annual Meeting will be held Wednesday,
May 28, 2008, at 5:00 p.m. at the Scranton Office. All members
are invited to attend. This year's agenda includes the election
of three candidates to the Board of Directors. The nominees
are incumbents James McCrone, Nancy Baskwell and Barbara
Mellander. Each member of the Board of Directors serves a term
of three years.
TOP
Have You Checked
Your Credit Card
Rates Lately?
 If you're not using a Penn East FCU
VISA® Credit Card, you're probably
paying a higher interest rate! We
want to help you get the most for
your money. Offering great rates on
credit cards allows us to provide you
with the credit you need at a rate
you'll appreciate.
Did You Know?
Our VISA offers the same low rate
for purchases, cash advances or
balance transfers - compare that to
the offers provided by other credit
cards, and you'll be surprised! Plus,
you'll pay no annual fee and no
minimum finance charge on your
Penn East FCU VISA. That's one
great deal!
Apply Today!
Call (570) 342-2720 or stop in
today for an application. Members
with Home Banking can apply
online 24/7!
*APR=Annual Percentage Rate. Card approval and type of card received is based on creditworthiness. Reward
points for our VISA Gold cardholders are earned based on net purchases. To browse the rewards catalog, visit www.
scorecardrewards.com. Rates are subject to change, 25-day grace period for purchases, late payment fee (after 10 days
past due) is $15.00, $15.00 over the limit fee applies to balances at least 10% over the limit. Contact the credit union for
complete details.
TOP
Quick Notes
REMINDERS
Negative Information Notice: As permitted by law, Penn East FCU
may report information about your loan and deposit accounts to
credit bureaus. Late payments, missed payments or other defaults
on your accounts may be reflected in your credit report.
Error Resolution: It is each member's responsibility to review
statements promptly. In the event of an error or question about a
transaction, we must hear from you no later than 60 days after we
send the first statement on which the problem or error appeared.
HOLIDAY CLOSINGS
Memorial Day – Monday, May 26, 2008
Independence Day – Friday, July 4, 2008
IMPORTANT IRA REMINDER
Tax-time is IRA contribution deadline time! IRA contributions
for the 2007 tax year must be made before Tuesday, April 15. Penn
East is proud to offer competitive rates on our Traditional and
Roth IRA products. Stop in and let us show you all we have to
offer - we can help you prepare for the future.
Don't have time to stop by the credit union? Visit our IRA center
online. You can open a new IRA, make
contributions and withdrawals, or browse our informational
articles. We remind you to consult your tax advisor for advice
specific to your financial situation.
TOP
 70th
Anniversary
Specials!
In 1938, a gallon of gas cost $0.20 and a postage stamp was
only $0.03. The minimum wage was born, starting at $0.25
an hour, and A Christmas Carol was in the theaters.
It was during this time that a group of Scranton educators
recognized a need and desire in the community to create a
cooperative environment of people helping people. These
teachers came together to form what is now Penn East
Federal Credit Union. The credit union was chartered back
in May of 1938.
We are proud to celebrate 70 years of serving the
community! We invite all of our members to take part in
our 70th Anniversary Celebration during the month of
May. Tear off this section of Anniversary Specials available
exclusively for you!
A lot has changed since 1938, but what hasn't
changed is our commitment to you, our members.
Stop in today to see what's new - you belong at
Penn East FCU.
TOP
Always Keep Your Account & Personal Information Secure
You may remember reading about fraudulent e-mails supposedly from
the NCUA. We'd like to make you aware of the latest scam circulating:
it's called "vishing."
Vishing is short for "voice phishing" using Voice over Internet Protocol
(VoIP) phones to potentially capture financial information. There are
at least two "vishing" methodologies scammers use:
The Online Version
The scammer sends a blast e-mail, disguised to appear as though
it's from a bank, credit union, online payment service or other
well-known, popular business. The e-mail, which may have a trusted
logo (remember, you can download a logo from just about anywhere),
typically reports a "security" problem of some kind with the recipient's
account and urges the victim to call a telephone number to "straighten
things out."
Although many know better than to click on hyperlinks in e-mails
such as this one, they may feel safe calling a telephone number
that appears to be local or toll-free. Upon calling the number, they
reach an automated attendant who prompts them to enter their
account number, password or other private information for "security
verification" purposes.
The Cold Call/Telephone Version
Some "vishers" use automated dialing programs to "cold call" people.
Your Caller ID device may list a legitimate-looking local phone
number to inspire trust. A pre-recorded message (or sometimes even a
live person) claims that your account has been compromised or needs
updating or verification. You are then asked to enter your account
information, which is digitally transcribed onto the hard drive of the
scammer's computer.
Please Remember
Penn East FCU does NOT call or e-mail you to report any security
"issues" or request updates to your account information. The only
time you would enter any account information over the telephone
would be on a MARS call you initiated by calling (570) 343-MARS.
If you ever wish to be certain it is indeed a Penn East FCU
employee to whom you are speaking, simply ask to call us back
at (570) 342-2720.
TOP
Looking Forward To Warmer Weather?
If warm-weather fun is on your "to do" list,
let us help! Penn East FCU offers financing
for RVs, boats, watercrafts, ATVs and
motorcycles, all at the same great rates as our
Vehicle Loans and with a quick turnaround
time. You'll be on the lake or hitting the open
road before you know it!
As always, you will receive .25% OFF
your loan rate when you pay using
Payroll Deduction!
Learn More
Sit down with one of our loan
officers to review your credit
report and determine the best loan,
rate and term for your needs.
We invite you to check
out all our current
loan rates online or in either location
next time you stop in - we've got fun in the
sun covered!
Rate and available terms received based on creditworthiness.
All vehicles must be purchased through a licensed dealer -
private party sales excluded.
TOP
|
