First Mortgages and Refinancing

Keynotes
Second Quarter •
2012
First Mortgages
and Refinancing
Is now the right time for you?
Mortgage rates are the lowest they have been in years. In June 2012, 30-year fixed mortgage
rates averaged about 4.250%, versus 6.750% in June 2008. With the lower rates, now is the time
for potential house buyers to consider purchasing a new home and owners to investigate the
benefits of refinancing.
Each one percentage point decrease in mortgage interest
rates makes housing more affordable. On a typical
$100,000 mortgage, a drop of 1% in the mortgage
rate equates to a monthly savings close to $60.
For example: The monthly payment for a
typical $100,000 mortgage at a fixed 5.25%
interest rate on a 30-year loan costs about
$553. While the monthly payments on
the above-mentioned loan at a fixed
4.25% interest rate only costs $493 a
month. This means that you may be
able to obtain a large increase in your
net disposable income simply by
refinancing your existing mortgage.
You may also want to look at taking advantage
of the lower rates to help you gain equity in
your home more quickly. If your current mortgage
payment is comfortable and fits within your budget,
you may be able to refinance at a lower rate and a
shorter term.
For example: If you reduce your loan term on a $100,000
mortgage from a 30-year fixed rate of 4.25% to a 15-year
fixed rate of 3.50%, you could cut as much as
$48,456 dollars in interest charges. Now that’s
a real savings!
So, if you are interested in purchasing
a house, or find yourself locked into a
higher mortgage rate, want to earn
equity in your home more quickly, or
save money on finance charges, call
Atlanta Postal Credit Union’s Real
Estate Department today, at
(770) 921-7091 or Toll-free at
(800) 849-8436.
Our mortgage experts can not only help
you find an affordable mortgage program
that will meet your needs, but they can also
prequalify you for a mortgage, so you can start house
hunting right away.
Delivering exceptional service to U.S. Postal Service employees and their families since 1925.
Special Auto Loan Financing Sale
If you’re looking for a new or pre-owned car, truck, or van, we have great
news for you! – We’ve extended our spring loan rate sale.
From now until September 30, 2012, if you finance your new or pre-owned vehicle purchase
with APCU, you can enjoy an excellent financing rate that is 1% less than our regular posted
vehicle loan rates. This means you can finance a vehicle loan with us at a rate
as low as
1.75% APR*!
Shop with the confidence you deserve by pre-qualifying for your new or pre-owned vehicle loan
with APCU. We can help you figure out how much money you can reasonably afford to spend
and how much your payments will be. And, thanks to our auto loan financing sale, owning a
new-to-you vehicle has never been more affordable.
Have you already purchased a new-to-you vehicle and financed with another financial
institution? No problem! You can refinance that vehicle loan with APCU and receive our
special, discounted vehicle loan rate, too!
Applying is easy! Just call one of our friendly and knowledgeable Loan Service Representatives,
24/7, Toll-free at (800) 371-6917, or stop by and visit us at any one of our branch locations and get
your application started today. Applications are also available online at www.apcu.com by clicking
on the “Minute Money Loan” icon.
This offer ends September 30, 2012. So, if you haven’t already taken advantage of our reduced
auto loan financing rates, now is the time! Contact Atlanta Postal Credit Union and we’ll get
your vehicle loan application started right away.
* APR – Annual Percentage Rate. Loan rate is quoted as an Annual Percentage Rate and is subject to change without notice.
Rate example quoted is for a 2008 and newer model year auto with a 48-month repayment period. Additional rates and terms are
available. Ask for details. Rates shown are the lowest available for the listed term as of June 30, 2012. All loans are subject to
approval of credit. Your actual rate is based upon your credit history. APCU is an Equal Opportunity Lender. Vehicle loan rate
reduction offer may not be combined with any other offers made by APCU.
It’s Report Card Bonus Time!
A
If there’s a youngster (between kindergarten age and 18) in your family
who is a member of Atlanta Postal Credit Union (APCU) and who has received
a great report card from school, we have a special bonus in store for him or her.
As part of APCU’s Youth Program, we will reward our young members with a special bonus of $1.00, up to
a maximum of $10.00, for each “A” (or excellent grade) he or she earns on his or her end-of-year promotion
report card. It’s our way of letting your child know that we believe working hard in school is very important to
his or her future success.
Here’s how to get your child’s Good Grades Bonus:
• The child must be the primary member of the account to qualify.
• Photocopy your child’s end of year report card
(the report card that indicates the student is being
promoted to the next grade level).
• Write the child’s member number on the report card copy.
• Mail the report card copy to:
Marketing Department - Atlanta Postal Credit Union
400 Tradeport Blvd., Ste 401
Atlanta, GA 30354.
A credit will be posted to your child’s account in August for an
amount equal to $1.00 for each “A” (or equivalent) he or she
receives in core content areas of study: language arts, health,
mathematics, reading (English), science, and social studies.
We must receive the report card copy no later than August 15, 2012.
Report card copies received after this date may not be eligible for a
bonus in 2012. Please do not send your child’s original report card
to the credit union.
If your youngster is not yet a primary member of the credit union
and you want them to participate in this special incentive program,
call our Member Service Department and request a New Member
Packet. We’ll get one in the mail to you right away. Once your child is signed up for membership, he or she
will enjoy many fun benefits throughout the year just for saving regularly at Atlanta Postal Credit Union.
Introducing Our New And Improved Internet Branch
APCU’s Internet Branch is getting a new look. We are improving the way you
view your information online by providing you greater visibility and better
navigation while you continue to have access to all the same financial
information you are accustomed to. Visit our home page at
www.apcu.com to view a video explaining some of the new features.
Here’s the best part! The new and improved Internet Branch is up
and ready for you to use. Just log-on as you usually do.
Don DeCinque
President/CEO’s Message
Who Is Your PFI?
Three Scholarships
Awarded in
2012 Competition
We are delighted to announce that the Scholarship Review Panel
has selected three members of our Youth Membership
Development Program as winners of Atlanta Postal Credit
Union’s annual Youth Membership Development Scholarship
Award. Each of the three winners will receive $1,000 to be used
to purchase school supplies, dormitory or housing needs, or to
spend in any other manner they desire.
Congratulations to our winners! We thank all of our Scholarship
applicants for participating in APCU’s Scholarship Program.
We extend best wishes to one and all as they pursue their
college education.
Watch the fourth quarter 2012 edition of APCU’s newsletter,
KeyNotes, and our Web site at www.apcu.com, for information
on the 2013 Youth Membership Development Scholarship
competition.
The winners are:
Tabitha Banks - Lilburn, GA
Victoria James - Fayetteville, GA
Courtney Knight - Dallas, GA
A National Member Survey Report released by the
Credit Union National Association research department
states that members who choose a credit union as their
primary financial institution (PFI) are noticeably more
satisfied with virtually every aspect of the servicequality, service charges, and interest rates they receive
from their credit union than bank-PFI customers are with
their bank.
What is a PFI, you might ask. Your PFI is the financial
institution you use for just about all of your financial
needs. For example, if APCU is your PFI, you have your
savings accounts, checking accounts, debit cards, credit
cards, auto loans, mortgage loans, certificates, etc. with
APCU. You would most likely consider APCU first when
you needed a new financial service. And, you might
promote the benefits of credit union membership among
your family members and your qualified co-workers.
As your PFI, APCU saves you money by charging lower
interest rates on loans and paying higher interest or
dividends on deposit accounts and investments. The
credit union also charges you fewer and lower fees, and
in the case of some services, no fees at all. So the more
you use the credit union, the more you save.
The main reason APCU can offer you such great value is
that we’re a member-owned, not-for-profit cooperative.
In fact, credit unions have outshined other financial
institutions in every American Banker customer
satisfaction survey since 1984. We exist to meet
members’ needs, not to make a profit and maximize
the wealth of outside shareholders, as banks do.
Is APCU your PFI? If not, we invite you to take
advantage of all the services the credit union has to offer.
From savings accounts to checking accounts, car loans
to mortgage loans, and everything in between, APCU
has the services you need to help make managing your
money easier and more economical.
Call our Member Service Department. We’d be happy to
speak with you about transferring any of your financial
services from other providers to APCU.
Branch Listing
Loan Application
Please Print
Name:
MAIN OFFICE
3900 Crown Road • Atlanta, GA 30380-0001
(404) 669-2750 FAX
Member #:
D.O.B.
S.S. #
DECATUR BRANCH
520 W. Ponce DeLeon Avenue • PO Box 803
Decatur, GA 30031
(404) 378-5642 FAX
Address:
City:
County:
Home Phone: (
)
State:
Zip:
Work Phone: (
)
Purpose of Loan:
Approx. Term:
Amount Requested:
Security Offered:
You elect the following
single credit disability
U Yes
U No
insurance coverage(s):
single credit life
U Yes
U No
joint credit life
U Yes
U No
Employer:
Address:
City:
State:
Zip:
Position:
Length of Employment:
NORTH METRO BRANCH
Real Estate Department
Business Lending Department
1605 Boggs Road
Duluth, GA 30096
(770) 921-7186 FAX
NETWORK DISTRIBUTION CENTER BRANCH
1800 James Jackson Pkwy, NW • Atlanta, GA 30369-9751
(404) 792-2512 FAX
IBEW BRANCH
501 Pulliam Street, Suite 350 • Atlanta, GA 30312-2749
(404) 223-3322 FAX
MACON BRANCH
VISA Department
515 Mulberry Street, Suite 100 • Macon, GA 31201-6306
(478) 746-8999 FAX
Drive-Up Window Service (this location only)
Income (current):
Additional Income:
Source:
Total Current Annual Income:
Debts
Lender
Balance
Payment
Mortgage/Rent
2nd Mortgage
Auto
SOUTH DEKALB MALL BRANCH
2801 Candler Road, Suite 81 • Decatur, GA 30034
Hours of Lobby Operation (this location only)
Monday-Friday • 9:00 AM - 7:00 PM
CONTACT US
(404) 768-4126 • (800) 849-8431
Hours of Lobby Operation - Monday-Friday • 9:00 AM - 4:30 PM
Telephone Service - Monday-Friday • 8:30 AM - 5:00 PM
Auto
Total
Payment Options (check one):
24-HOUR LENDING CENTER
(800) 371-6917
U Deduct monthly from
U Savings
U Checking
U Payment date requested: __________
VISA CARD SERVICES
(800) 599-7889 Member Services
(800) 325-3678 Lost or stolen card assistance only
U Deduct biweekly from
U Savings
U Checking
U Pay direct by mail or in person
I understand that the credit union will retain this application whether
or not it is approved. The credit union is authorized to check my
employment history and credit report.
Signature:
For a mortgage application, call (770) 921-7091 or Toll-free
(800) 849-8436.
Web Site: www.apcu.com
General E-Mail: Info@apcu.com
Dividend News
APCU paid a quarterly share
dividend of .746% with an
Annual Percentage Yield of
.75% for the second quarter.
Dividends are compounded
and credited to your account
quarterly.
Dividends will be computed by
applying a periodic rate to the
balance in the account for each
day of the dividend period.
Deposits begin earning dividends
on the day of deposit.
If you close your share account
before dividends are paid, you
will not receive the accrued
dividends. No dividends are paid
on balances below $50.00 except
on youth accounts.
Board of Directors
Moses M. Spence, Chairman
Royce L. Jackson, Secretary
Katherine S. Brown
Donald A. DeCinque
David Disharoon
Roy L. Matthews
J.T. Middlebrooks
H. Preston Mulkey
Bud Wilkinson
Sam B. Dowdy - Director Emeritus
Supervisory Committee
H. Preston Mulkey, Chairman
Robert L. Harris, CPA
Herbert W. MacNabb
Roy L. Matthews
Jabo Patterson
Credit Committee
Katherine S. Brown, Chairman
George Lamar
Pat Little
J.T. Middlebrooks
Roy G. Rainwater
Holiday Closing Dates
Independence Day • Wednesday, July 4, 2012
Labor Day • Monday, September 3, 2012
Columbus Day • Monday, October 8, 2012
Veterans Day • Monday, November 12, 2012
Thanksgiving Day • Thursday, November 22, 2012
Christmas Eve • Monday, December 24, 2012
Christmas Day • Tuesday, December 25, 2012
APCU Statistics (as of May 31, 2012)
Assets: $1,999,410,210
Members: 100,399
APCU Loan Rates
This information is accurate as of the effective date listed below. The terms may change after that date.
Please call us at (800) 849-8431 or (404) 768-4126 for additional information.
Term
New and Used Auto Loans
2008 and newer
$25,000 and over
2007 and older
Discount
% Above
Index
Annual Percentage
Rate (APR)
36 mos.
48 mos.
60 mos.
72 mos.
2.75%-11.25%
2.75%-11.25%
3.00%-11.50%
3.75%-12.25%
48 mos.
60 mos.
5.00%-13.50%
5.50%-14.00%
48 mos.
60 mos.
120 mos.
6.50%-13.50%
7.00%-14.00%
7.75%-14.75%
36 mos.
48 mos.
8.40%-15.40%
8.90%-16.90%
Other Collateral Loans*
$35,000 and over
Personal Loans
Share or Certificate Secured**
100% of balance on deposit
2.00%
Partially Share Secured***
75% of balance on deposit
50% of balance on deposit
25% of balance on deposit
36 mos.
36 mos.
36 mos.
2.00%
1.50%
1.00%
75% of balance on deposit
50% of balance on deposit
25% of balance on deposit
48 mos.
48 mos.
48 mos.
2.00%
1.50%
1.00%
Rates are current as of May 31, 2012
* Other Collateral: Motorcycles, Personal Watercraft, Recreational
Vehicles, Campers, Boats, Motor-homes, Travel Trailers, and Farm
Equipment.
** Share Secured: The APR will be the dividend rate paid on regular
shares the previous quarter (Index) plus the percentage shown in the
“% Above Index” column above. If there is an existing balance on the
date of the new advance, the existing balance will be added to the
new advance and the entire amount will be at the new APR. The rates
are subject to change quarterly on the 1st day of January, April, July,
and October to reflect any change in the Index. Any increase in the
APR will result in more payments of the same amount until what you
owe is repaid.
** Certificate Secured: The APR will be the dividend rate being paid
on the Certificate offered as security (Index) plus the percentage shown
in the “% Above Index” column above. The Certificate must either be
renewed until the advance is completely paid or be rolled over into a
share account, at which point the advance will become a Share Secured
advance and be subject to those terms. Failure to renew the Certificate
or roll it over to a share account will result in default under the Plan.
When the Certificate is renewed, the APR will change to reflect the new
dividend rate. Any increase in the APR will result in more payments of
the same amount until what you owe is repaid. The present APR and
daily periodic rate for certificate secured advances will be disclosed on
the voucher at the time of the advance.
*** Partially Share Secured: The Annual Percentage Rate will
be the Personal Loan rate for which the applicant qualifies minus
the discount percentage shown under the “Discount” above.
Payment example: Estimated monthly payment on a 36-month
loan at 3.99%=$30.00 per $1,000.00 borrowed.