Special Edition 2012 - REALTORS® Federal Credit Union

SPECIAL EDITION
Inside:
A New Direction:
A Message from
Martin Edwards
We’ve Got
You Covered
Strength In
Numbers
You’re At Home
with Us
Secrets
to Driving
Away with a
Great Deal
for REALTORS® Like You
A MESSAGE FROM
GERRIANNE BURKS
REALTORS® SPECIAL EDITION
1-866-295-6038
Fax: 301-355-6845
President and CEO of Northwest Federal Credit Union
Welcome REALTORS® Federal
Credit Union members to
our Northwest Federal Credit
Union family. We hope that
you will find this REALTORS®
Special Edition of The Northwest Difference informative and
relevant. We have written the magazine with your needs in
mind. Throughout the magazine you will learn a little more
about Northwest Federal, the products and services that we
offer and the many ways that we are making a difference in
our members’ lives and in the communities we serve. As has
been the case throughout the history of REALTORS® FCU, we
take service very seriously at Northwest Federal, and intend to
provide an exceptional banking experience to every member
who conducts business with us.
On behalf of myself, the Board of Directors and staff, I
want to personally welcome you and assure you that the joining
of our two organizations will provide greater benefits to both of
our organizations. We believe that the synergies created by our
partnership will provide you not only with expanded product
and service offerings but will also continue and expand the
excellent service that you have come to expect and deserve.
We understand the value and importance of the REALTORS®
brand and have incorporated it into our DNA by co-branding
to REALTORS® Federal Credit Union, A Division of
Northwest Federal. We want you to know that you will have
a strong and continuing voice in the combined organization as
Martin Edwards, former Chairman of REALTORS® FCU, has
joined our Board as a Director. Additionally, we have added
Bob Goldberg, a former Director of REALTORS® FCU and
NATIONAL ASSOCIATION OF REALTORS® executive
as an Associate Director. Also, in the near future we will be
creating an Advisory Committee represented of REALTORS®
to help us stay focused on the unique needs of REALTORS®.
In closing, I would like to encourage and invite you to
explore the many financial opportunities that await you and
ask you to refer other REALTORS®, family members and
friends to join. We understand the many choices you have
when it comes to financial services and appreciate your giving
us the opportunity to be your first choice.
Gerrianne Burks
A MESSAGE FROM MARTIN EDWARDS, JR., CCIM
Former Chairman of REALTORS® Federal Credit Union, Director of Northwest Federal Credit Union and
2002 President of the NATIONAL ASSOCIATION OF REALTORS®
I want to personally welcome you to your new—and
improved—Credit Union. On August 1, REALTORS® Federal
Credit Union became a division of Northwest Federal Credit
Union, headquartered in Herndon, VA. This is great news
for REALTORS® FCU because it takes the Credit Union to
a whole new level. When it was established in 2008, the goal
was to become a $500 million institution. Now, thanks to the
merger with Northwest Federal, we have considerably exceeded
that goal and are part of a $2+ billion institution. As a result,
this partnership allows us to deliver products and services faster
which can help you achieve your unique financial goals that
meet your specific needs as REALTORS®.
Specifically, Credit Union members now have access to the
expanded banking resources of Northwest Federal, including:
• Brick and mortar branches. You continue to have virtual 24/7
access to accounts and services and in addition, members can
now stop in and do business in any of Northwest Federal’s six
branch locations or the 4,600+ locations within the Credit
Union Family shared branch network.
• Business account products. Move your business’s bank
accounts to the Credit Union, and choose from a selection of
checking and savings options.
• Business loans. Use these resources to refinance your building,
expand your office, or open a line of credit. And if you’re part
of the leadership of a local or state association, these business
loans are available to your organizations as well.
• Consumer and mortgage loan offerings. Plus, you have
access to a full suite of loans, including student loans, vehicle
loans, first mortgage loans, and home equity loans.
These new additions complement the continuing strengths of the
Credit Union that you have come to expect—unparalleled online
banking, responsive customer service, and all the accounts and
other services designed with REALTORS® in mind.
A REALTOR®–centric advisory committee is being
formed from our REALTOR® family to advise the nine-member
Northwest Federal Board, of which we have a voice and a vote,
on developing and directing products that meet your specific
needs as a real estate practitioner.
I encourage all members to explore these expanded
offerings and see the direct benefits they will have for your
business—as well as your personal finances. For complete
information visit www.REALTORSFCU.org or call
Member Care at 1-866-295-6038, or you can reach me at
medwards@REALTORS.org.
Martin Edwards, Jr., CCIM
Member Care
FEATURES
2 We’ve Got You Covered
Your Credit Union is here to help. Turn to us for a variety of products
and services designed to help you save money on both your business and
personal accounts.
6 Strength In Numbers
A recap of our performance, including how we’ve branched out to serve
you better.
7In Your Words
A Member’s Testimonial. Business owner Mark Bredesen of Auto
Scandia in Herndon, Virginia shares why he chose the Credit Union as his
business lender.
8 You’re At Home with Us
When it comes to buying a property or helping your clients buy and sell their
homes, we’ve got all your real estate needs covered under one roof.
12 Giving Back…
14 Secrets to Driving Away with a Great Deal
A snapshot of our recent branch and community outreach efforts.
From low loan rates to our Auto Locating Concierge Service, we have the
resources you need to drive away with a great deal on your next new or
used car.
18 NWFCU Foundation Corner
Get to Know Us. “Making a Difference” is not just a slogan, it is our service
commitment to others, the promise that we keep.
20 Calendar of Events
Three-month outlook of our events, seminars and community sponsorships.
Business Services
301-355-7575
Fax: 301-355-6845
M–F: 8:30 am–5:00 pm
Lending Center
Herndon Branch, Building II, Suite 220
703-709-8921 or 1-866-709-8921
M–F: 7:00 am–7:00 pm • Sat: 8:00 am–1:00 pm
Website
www.REALTORSFCU.org
Branches
Chantilly Branch (VA) – 14419 Chantilly Crossing Lane
M–F: 8:30 am–7:00 pm • Sat: 9:00 am–1:00 pm
Gainesville Branch (VA) – 7500 Webb Drive
Lobby:
M–F: 8:30 am–7:00 pm. • Sat: 9:00 am–1:00 pm
Drive-thru:
M–F: 7:00 am–7:00 pm • Sat: 9:00 am–2:00 pm
Herndon Branch (VA) – 200 Spring Street
M–F: 8:30 am–7:00 pm • Sat: 9:00 am–1:00 pm
Leesburg Branch (VA) – 525 Trimble Plaza
Lobby:
M–F: 10:30 am–7:00 pm. • Sat: 9:00 am–1:00 pm
Drive-thru:
M–F: 8:30 am–7:00 pm • Sat: 9:00 am–2:00 pm
Manassas Branch (VA) – 9730 Liberia Avenue
Lobby:
M–F: 10:30 am–7:00 pm. • Sat: 9:00 am–1:00 pm
Drive-thru:
M–F: 8:30 am–7:00 pm • Sat: 9:00 am–2:00 pm
Vienna Branch (VA) – 231 Maple Avenue, East
M–F: 10:30 am–7:00 pm • Sat: 9:00 am–1:00 pm
24-hour ATMs available at all locations.
Shared Branches & ATMs
4,600+ branches to serve you nationwide.
Thousands of free CO-OP Network® and
Credit Union 24®/CU HERE ATMs nationwide.
Locator Wizard available on our website or mobile
site to find a branch or ATM near you.
ABA Routing Number
055080431
NWFCU Foundation
703-925-5094 or 1-800-336-3384
Fax: 703-234-4301
www.nwfcufoundation.org
Federally insured by NCUA.
Editor: Karen Avery
The Northwest Difference for REALTORS® Like You is published by Northwest Federal Credit Union as an information and
educational service to members. Material in this magazine may not be reproduced without written permission from the publisher.
The post office does not forward copies from incorrect addresses. We welcome your comments or suggestions; please write us
at The Northwest Difference, Northwest Federal Credit Union, P.O. Box 1229, Herndon, VA 20172-1229, or send an email to
difference@nwfcu.org.
© 2012 NWFCU
REALTORS® Federal Credit Union, a Division of Northwest Federal
Credit Union, does business in accordance with the Federal Fair
Housing Law and the Equal Credit Opportunity Act. All information
is current as of 9/2012 and is subject to change without notice.
“I plan to do all of my banking with you. The responsive and
personal attention I get is above and beyond every other
institution out there. The rates that you offer are better than
99% of other lenders.”
Erik N.
Your Credit Union is always here to help. Whether it’s giving you a better value on a car or a home loan,
providing loans to help you cover unplanned expenses, or offering financial counseling to help you meet your
financial goals, we strive to make a positive difference in your life. And now that we have branched out, here
are just a few of the ways we can help you save money when it comes to your business and personal accounts.
We’ve got You Covered
FOR YOUR BUSINESS
Business Checking
Business Checking helps you manage
day-to-day transactions with all the
benefits but without per item fees. Our
Basic Business Checking account can be
opened with a $100 deposit and features
free Online Banking, free remote deposit
capture service, overdraft protection
from Business Savings, Debit MasterCard®,
and access to thousands of free
Credit Union 24®/CU HERE and
CO-OP Network® ATMs nationwide.
Business Savings
Business Money Market lets you earn a
higher return on your money while still
providing you with convenient access to
your funds. There is no minimum balance
requirement and your earnings increase
with our tiered dividend rates.
Business Lines of Credit
A Business Line of Credit could be
the answer to your short-term funding
requirements. If you need to fund
seasonal cash flow or take advantage of
unexpected opportunities, we offer both
revolving and closed-end credit programs
to suit your needs.
Business Term Loans
A Business Term Loan can provide funds
for new equipment, vehicles and more.
Commercial Real Estate Loans
Commercial Real Estate Loans are
available if you are looking to purchase
office space or refinance owner-occupied
commercial real estate.
Remote Deposit Capture
FREE business
seminars & webinars
Aside from the valuable business
products we offer, we also provide
free business seminars and webinars
throughout the year. Our most
recent event was a Business Services
Breakfast with Dr. Steven Fuller, PhD,
Director of the Center for Regional
Analysis–School of Public Policy at
George Mason University. Dr. Fuller
presented a 2012 economic outlook
for business owners.
This convenient service lets you deposit
checks into your business account,
without having to leave your office.
Simply scan your checks using our secure,
easy-to-use web application and the
deposit is recorded into your account.
Continued PAGE 4
REALTORS® SPECIAL EDITION The Northwest Difference 3
Continued from PAGE 3
Meet Our Business Services Team
Colleen Daly. As Senior Vice President of Lending, Colleen
oversees the Business Banking division. She manages a diverse
portfolio of business loans and is responsible for the development
and implementation of new and innovative loan products and
services for our members. Colleen has been with the Credit
Union for more than 20 years, serving for 14 years as Mortgage
Lending Manager.
Jim Northington. As Chief Credit Officer, Jim is developing
the framework to expand our commercial lending business
segment and is responsible for maintaining sound credit
underwriting, ongoing credit relationship management, and
commercial loan portfolio quality. Jim joined our Senior
Management Team in November 2011 after a 33-year career as a
community banking executive and risk management consultant.
Jim Estep. As Business Banking Manager, Jim is responsible for
meeting the credit and service needs of business members and
prospects. With
over 35 years
of experience
“Jim Estep took care of us from
in the financial
beginning to end. This loan will
services
allow us to generate revenue and
arena, Jim has been working
help us continue to grow. We’re very
with businesses large and small
appreciative of what the Credit Union
throughout his entire career but
has done and our goal is to bring our
his primary focus has always been
entire banking relationship here.”
on the needs of the individual
Mark B.
client. Prior to his employment
with the Credit Union, Jim
worked at area banks holding the
vice presidential positions of Branch Manager, Regional Manager,
Relationship Manager and Commercial Lending Officer.
To learn more about how we can help your business succeed, schedule a
consultation with Business Banking Manager Jim Estep at 703-709-8900, ext.
6166 or 1-866-709-8921 (toll-free).
“I am so thankful that I found this Credit Union after my
move to Virginia from the Midwest. Your staff has been
nothing short of exceptional from day one. We have
our business accounts, personal accounts and an auto
loan through you and couldn’t be happier with the
professionalism and knowledge that each staff member
possesses. You have thoroughly impressed me each time I
have walked in the doors and I will continue to encourage
my family and friends to join.”
Maranda S.
ON THE
PERSONAL FRONT
“I want to thank you from the
bottom of my heart for all
your help refinancing my
car. I’m thinking of switching
all of my banking to you
because of what the Credit
Union has to offer. Thank
you for taking the extra
steps to help me save.”
Kimberly W.
Checking
Car Buying
With our eChecking account you
will enjoy really free checking with
no minimum balance, no monthly
maintenance fee, free debit card and
completely free access to thousands of
Credit Union 24®/CU HERE and
CO-OP Network® ATMs nationwide.
If you prefer an interest-bearing
personal checking account, open a
Premier checking account. With Premier
you’ll get all the benefits from eChecking
plus you’ll earn quarterly dividends, and
receive a bonus rate on your certificates
with this top-tier checking account1. And
you get it all with no monthly fee when
you maintain a combined savings and
loan balance (including real estate and
auto loans) of $50,000 or more.
From competitive
rates on new and
used vehicles, to
our convenient
Auto Locating
Concierge
Service, Online
Auto Auction, and Online
Car Buying Service, we
have the resources you need to be a savvy
car shopper.
“This is a great credit union to do
business with. I was with a big bank
previously and they did not treat
me like I was a valued customer. I
really love your customer service
and products. I’ve been a member
for 17 years and I’ve never had a
bad experience.”
Barry A.
Walk-in Branches
Make deposits and withdrawals from your
account in-person at more than 4,600
shared branch service centers nationwide.
If you reside in the Northern Virginia
area, you can bank at any one of our six
full-service branch locations in Chantilly,
Gainesville, Herndon, Leesburg,
Manassas or Vienna. (Just look for the
Northwest Federal logo.) Our branches
offer free coin machines (that sort and
count loose change and deposit it directly
into your account), Visa® gift cards (with
fees lower than at retail stores), notary
services, and other conveniences. In
addition, our Gainesville, Herndon,
Leesburg, and Manassas branches offer
safe deposit boxes.
New or Used Car, Truck or
Motorcycle – Great Low Rates. Pick
your ride then choose a loan term to fit
your budget from 12 to 84 months. We
offer pre-approved auto loan checks (PAL)
that lock in your rate and gives you up to
30 days to purchase your vehicle. To check
rates, visit www.REALTORSFCU.org
or call to speak with a Lending Center
representative at 703-709-8921 (1-866709-8921 toll-free).
Have Your Car Loan with Another
Lender? Our rates are most likely lower
than what you are paying elsewhere and
when you bring your car loan to us, we’ll
give you up to $200 cash!2
Auto Locating Concierge
Service. If you live in the
Washington, D.C. metro
area and would like to avoid
the car dealer experience
entirely—no negotiating, no
salespeople, no pressure—let
our Auto Locating Concierge
Service do all the legwork for you. Simply
tell us the new vehicle and features you
want and we’ll work with our network
of area dealers to find your car, negotiate
the price, and have it delivered to one of
our branches. To start the search for your
new vehicle, complete our online Auto
Locating form or call 703-709-8921
(1-866-709-8921 toll-free).
Home Loans
We offer a wide variety of mortgage
loan options designed to meet the
diverse needs of our members. Our 65+
years of experience have taught us that
competitive rates and fees are only
part of the equation when financing a
home. Our licensed, non-commissioned
lending representatives work hard to
find the best mortgage option tailored to
your individual needs. And while some
mortgage companies sell and resell loans,
leaving you with a new payee receiving
your monthly payment, we service your
loan for life. For more information on the
types of mortgage loans we offer, turn to
“You’re At Home with Us” on page 8.
Online Car Buying Service. Search
online for new and used cars nationwide
with our free Online Car Buying Service.
Visit www.nwfcu.zag.com to research
vehicles, read reviews, and receive actual
price quotes on vehicles from
dealers in your area. You’ll
save money with a Low Price
“My husband and I had a really great
Guarantee in writing and enjoy
experience buying our first home
a hassle-free experience and
and we’re grateful to the Credit
excellent customer service from
Union for helping us every step of
Certified Dealers. Plus, you’ll
the way.”
save an average of $4,4413 off
Ricki M.
MSRP on new vehicles.
BALANCESM Financial Fitness
Our partnership with BALANCE offers
you a trustworthy resource for financial
counseling and debt management.
This confidential program can help you
create a workable budget, spend wisely
and reduce your personal debt. Talk to
a BALANCE counselor to help you set
short- and long-term financial goals, for
ideas on how to make the most of your
paycheck, and more. The call and the
advice are free: 1-888-456-2227.
“I am very thankful that you provide
access to BALANCE. After my
very informative initial session
by phone, I felt equipped to
fully tackle my debt in a proper,
educated manner.”
Kathryn F.
WE’RE HERE TO HELP
If you’d like to contact us, stop by a
branch, call 1-866-295-6038 or visit
www.realtorsfcu.org to learn
more about the programs and products
we offer.
1 0.25 basis point bonus paid on certificates of at least $100,000 and with terms of one year or longer; 0.10 basis point bonus paid on certificates from $50,000 to $99,999.99 and with terms of one
year or longer. Premier Checking certificate bonus rates are not available on Add-on certificates.
2 $200 rebate is paid on loans greater than $10,000 and $100 paid on loans $5,000 to $10,000. Rebate is paid once the loan has been funded. Internal refinances are excluded.
3 Average potential savings of $4,441 off MSRP for user-configured new vehicles. Your actual savings may vary based on multiple factors, including the vehicle you select, region, dealer, and
applicable manufacturer incentives.
4 The Northwest Difference REALTORS® SPECIAL EDITION
REALTORS® SPECIAL EDITION The Northwest Difference 5
STRENGTH IN NUMBERS
Our Membership Milestones & Financial Performance
Since our beginning in November 1947, Northwest Federal has been providing our members
with competitive products and services that add value and make a difference in their lives. Here’s
a brief overview of our anniversary milestones and 2011 performance as we embark on the
celebration of our 65th year.
Our Milestone Years
When we celebrated our 50th anniversary 15
years ago, we had assets of $602 million and
approximately 47,000 members. At July 31,
2012, as we approach our
65th birthday, we have almost
Assets:
$1.5 billion
quadrupled our asset size to $2.4
billion and more than doubled
our membership to more than
116,730 strong.
*Merger with
REALTORS® FCU
Members:
92,000
Assets:
$2.4 billion
Members:
125,000
Members:
47,000
1947
1997
2007
December 2011 closed out the best earnings
performance in our history. For the year, consolidated
net income totaled $20.1 million. These strong
earnings will enable us to improve technologies
and service delivery channels while continuing to
strengthen our capital base, which at the close of 2011
surpassed $200 million for the first time ever.
(includes 7,750
REALTORS® FCU
members)
2009
Net Income
Assets:
$601,929
Assets:
$2,762
Members:
11
Net Income
Aug. 2012*
2011 Performance
2011 was a very successful year for us. Even though
significant challenges remained in the domestic
economy, Northwest Federal continued to thrive. In
2011, we grew by more than $57 million, increased
convenience for members, introduced several new
products and services and initiated projects to
significantly enhance our technology. We launched
these and other undertakings while maintaining a
focus on efficiency, earnings and capital formation,
and our commitment to safety and soundness.
2010
2011
$9,031,000 $10,187,000 $20,131,000
Net Worth: Superior earnings in 2011 have enhanced
our capital position. Northwest Federal’s net worth
ratio increased to 9.55%—nearly 40% above the
regulatory threshold of 7% required to be considered
a well-capitalized institution. This is an indicator that
your Credit Union remains safe, sound and sustainable
for years to come.
Deposit Growth: Total deposits increased by 2% in
2011. Most notably, core transaction accounts (savings,
checking and money markets) increased by more than
$115 million.
Asset Quality: Despite the economic crisis of the past
few years, Northwest Federal’s asset quality and credit loss
experience has been very favorable, often two to three
times less than peer institutions. Loan delinquencies at
December 31, 2011, were 0.93% of total loans (compared
to 1.84% for our peers). Net loan losses for 2011 were
0.59% of total loans (compared to 1.31% for our peers).
Outlook for the Future
The Credit Union’s future looks especially bright, and we’re well positioned to prosper over the coming years.
Our goals are to invest in strengthening an already strong organization and to continue our growth so that we
may provide more members with greater convenience, along with new and enhanced services that will make a
positive difference in their financial lives.
6 The Northwest Difference REALTORS® SPECIAL EDITION
“
A small business is married to its bank
and you want to make sure it’s a good
marriage. It’s all about the relationship
and we know that this one is a good fit.
”
IN YOUR WORDS
Mark Bredesen, owner of Auto Scandia in Herndon,
VA, shares why he chose us as his lending partner when it was
time to purchase a commercial office warehouse and obtain a
business line of credit for his auto repair business.
“We’d been using the same big bank for
a warehouse we wanted to purchase at
our business needs for years, so naturally
an extraordinary price. Our loan was
I went to them requesting a business line
approved within 30 days. That warehouse
of credit. We weren’t sure of how the
unit wouldn’t have been available in
recession was going to affect us and we
another month. It was a little bit of a
wanted to have it in place as a cushion.
miracle that the Credit Union was able
It took a month for them to give us an
to help us pull it off—something that
answer, and in the end, we got turned
just wouldn’t have happened at a ‘big
down. This blew my mind because we were
bank.’ This loan will allow us to generate
a great client—never late on a payment—
revenue and help us to continue to grow.
not to mention
they definitely
made their money
It was a little bit of a miracle that the
from us with the
Credit Union was able to help us pull it
fees they charged
off—something that just wouldn’t have
just to have an
account there.
happened at a ‘big bank.’
“Dealing with a
bank of that size,
you don’t know the people there from
“The difference here is that the people,
Adam. The lending decision makers are
like Jim, who make the decisions, are the
in the corporate office, far away—you’ve
same people that you know.
never met them, they aren’t familiar with
“A small business is married to its bank
your business. Bottom line: someone
and you want to make sure it’s a good
higher up said they weren’t going to do any
marriage. It’s all about the relationship and
lending. Period. It was a wasted effort on
we know that this one is a good fit. Aside
our part. If you’re a good client, you expect
from the line of credit and real estate
good things to happen—and our bank let
loan, we also have our business checking
us down.
with the Credit Union and we’re getting
“We’ve been neighbors of the Credit
a quote on merchant services. Auto
Union for years, so when we heard
Scandia’s employees have also enjoyed
that you had started offering business
membership as a free employee benefit
services, we contacted Jim Estep (Business
since 2001. We’re very appreciative of
Banking Manager). Jim took care of us
what the Credit Union has done and
from beginning to end. We needed a
our goal is to bring our entire banking
loan on short notice because we’d found
relationship here.”
“
”
Jim Estep, Business Banking Manager, discusses
business with Mark Bredesen.
If you’d like information on how we can assist
you in growing your business, contact Jim Estep
at 703-709-8900, ext. 6166.
REALTORS® SPECIAL EDITION The Northwest Difference 7
W
hen it comes to buying a
property or helping your
clients buy and sell their
homes, we’ve got all your real estate needs
covered under one roof. Our lending
representatives guide members through
the entire process—from pre-approval to
picking up the keys.
A mortgage with us means you’ll enjoy
free pre-approval, 24/7 online application,
low lender fees, no pre-payment penalties,
and courteous service from start to
finish. Sound underwriting standards
and traditional mortgage products reflect
our focus on your financial stability and
security. And since we retain the servicing
of all of our mortgage loans, we’re able
to help you throughout the duration of
your mortgage and provide a continuity
of service which allows you to always deal
with people that you know.
“Our commitment to borrowers
differentiates us from other lenders,” said
Erin Krause, Vice President of Lending.
“From programs to assist borrowers in times
of trouble, free seminars to inform and
empower, or new products that provide
real value, we never stop seeking solutions
for house hunters and for home owners.”
We offer a full slate of mortgages,
including:
• 40-, 30-, 20-, 15- and 10-year fixed rate
mortgages
• 3/1, 5/1, 7/1 and 10/1 adjustable rate
mortgages (ARMs)
• Federal Housing Administration
(FHA) loans1
• Financing for second homes and
investment properties
• High-balance loans
• Reverse mortgages1
• VA loans
• 5-, 7-, 10- and 15-year equity loans2
with competitive fixed rates, no
points and no closing costs on owneroccupied/primary residence properties
• Home equity lines of credit (HELOCs)3
• Mortgage loans for your clients4
1 Through our partnership with Credit Union Mortgage
Association.
2 Not available in all states.
3 HELOCs only available in DC, MD, VA, PA
and FL.
4 Credit Union membership eligibility required.
REALTORS’® Perspectives
You can feel confident using us as your
mortgage lender and referring others to
us. Realtors® who’ve worked with
our mortgage department to help their
clients speak highly of the service they’ve
received. Here’s what a few of them had
to say:
“I enjoy working with the mortgage
department at the Credit Union
because I know they will do
everything in their power to get
their members to settlement while
doing it the right way. Their service
is focused on treating members
and REALTORS® with respect.
Unlike larger mortgage companies,
everything is done in house so it’s
much easier to get a response to
any questions that a member or a
REALTOR® might have. I have great
faith that the Credit Union will get
the job done correctly!”
Jay Rowzie, REALTOR®/
Real Estate Appraiser
YOU’RE AT
HOME WITH US
…A TRUSTED LENDER FOR 65 YEARS
Keller Williams Realty
Founder & Owner of
Virginia Valuation Services, LLC
“REALTORS® couldn’t ask for a
better partner than the Credit
Union to successfully complete
your mortgage loan. You will not
have to deal with a call center; you
speak directly to a loan officer,
processor, and closer. The Credit
Union understands the real estate
contract and deadlines. Your loan
will always be completed on time.
Online applications are available as
well as a very accurate online system
to quote estimated closing costs on
the purchase. It is also very easy for
clients to meet with a loan officer
due to the extended business hours
and being open on Saturday. My
experience working with the Credit
Union extends over seven years and
I have never been disappointed.”
Kevin Carter, REALTOR®
RE/MAX® Select Properties
#1 RE/MAX Agent in Northern Virginia, 2011
Top 100 RE/MAX Agents in the U.S., 2010–2012
Continued on PAGE 10
8 The Northwest Difference REALTORS® SPECIAL EDITION
REALTORS® SPECIAL EDITION The Northwest Difference 9
Continued from PAGE 9
Members’ Points of View
Our members also give high marks to our mortgage services team and the help we provide every step of the way. Here are a few
comments we received:
“After attending your How to Sell
Your House seminar, my husband
Ed and I were very impressed with
the helpful and useful information
conveyed by both presenters,
Kevin Carter (REALTOR®) and Leigh
Newport (professional home stager).
“Leigh presented revealing photos
depicting drastic differences of the
‘before’ and ‘after’ of staged rooms
and the benefits of de-cluttering.
Kevin presented memorable charts,
one in particular, that indicated the
lengths of time for houses on the
market with and without staging.
Ed and I knew that we wanted
their assistance to sell our house.
I was about to retire, but Ed was
resigned to living in Northern
Virginia for another year or two
because of the sluggish real estate
market. However, after following
their advice, we were able to get a
contract on our house three days
after it was put on the market!
“Leigh came to our house, walked
through it taking notes and then
sent us a copy of her detailed plan
on every room, suggesting ways to
enhance its attractiveness. Kevin
was in constant contact with us to
keep us abreast of every detail—the
photographing, promoting, selling
and closing on our house.
“I cannot truly convey how very
grateful my husband and I are that
we attended the seminar and that
we chose to have Leigh stage our
house and Kevin as our REALTOR®.
Kudos to the Credit Union for
sponsoring the seminar and to Kevin
and Leigh, two exceptional and
dedicated professionals!”
Cynthia S.
“The company I work for offers credit
union membership as an employee
benefit and that’s how we initially
turned to the Credit Union for
mortgage advice. Several months
before we even began to look at
homes, we attended one of your
new home buying seminars. This
was very informative and gave us
a good understanding of what to
expect, our loan options, how to get
pre-approved, house hunting tips,
and the closing process.
“Being first time buyers, we
were a little intimidated about the
whole process. Kim, our mortgage
representative, was extremely
helpful. She understood where we
were coming from and made us feel
very at ease. We felt such a personal
connection with the Credit Union
and even received a phone call from
one of the managers to make sure
everything was on track and going
smoothly for us. We knew then that
we’d made the right choice using
the Credit Union as our lender.
“Thanks to the Credit Union, the
closing was fast and efficient. We
even received compliments from our
closing agent on our loan terms and
preparation for settlement. Thanks
to everyone at the Credit Union for
making our home buying experience
such a great one. We’ll definitely be
using the Credit Union again for our
future financial needs.”
Ricki and Mark M.
“The mortgage staff who worked
with us was exceptionally helpful
and efficient. In the end, you saved
us hundreds of dollars by taking the
time to counsel us on our mortgage
options. Even our real estate agent
was impressed by the great lengths
to which the Credit Union mortgage
team went on our behalf.”
Amy N.
Down Payment
Worries?
Buy a home with as little as
Arlington, Virginia
Reston, Virginia
3%
down!
*
Mauldin, South Carolina
We’re Here for You
If you have questions regarding our mortgage loans, our non-commissioned lending representatives are available to talk one-on-one to
find the rate and loan type that works best for your situation. For more information on our mortgage offerings or to check current rates,
call 703-709-8921 (1-866-709-8921 toll-free), stop by our Lending Center in Herndon, Virginia, or visit www.REALTORSFCU.org.
10 The Northwest Difference REALTORS® SPECIAL EDITION
We can help turn your dream
of home ownership to reality.
Turn to a lending partner you can trust.
• Call 703-709-8921 (866-709-8921 toll-free)
• Apply at www.REALTORSFCU.org for your
free pre-approval
*Not all borrowers will qualify for 3% down payment; credit qualifications apply. 3% down is not available for condominium purchases.
12 The Northwest Difference REALTORS® SPECIAL EDITION
REALTORS® SPECIAL EDITION The Northwest Difference 13
Secrets to Driving Away
with a Great Deal
Whether you’re looking for a new or used car, we can help with rates,
terms and resources to make you a savvy shopper. If you live in the
Washington, DC metro area, we will even find your new car and
deliver it to you! Check out these Q&As to help you save time, money
and hassle when getting behind the wheel.
Q: How do I determine the right
car for me?
A: Consider the following when
narrowing down your vehicle of choice:
Will you be in your car for much of the
day? Is good fuel economy a priority? How
many people will typically be riding in
the vehicle? Is safety your number one
concern? What about reliability and
repair records for the make and model
you’re interested in? Is high resale value
important to you?
Q: Once I know the vehicle I want to
purchase, what else should I do?
From Low
Rates to Auto
locating
Concierge
Service, we
have what you
need to drive
away WITH a
great deal.
14 The Northwest Difference REALTORS® SPECIAL EDITION
A: Once you’ve decided which factors
are most important to you, you should do
your research. Check Consumer Reports,
Edmunds.com or www.nwfcu.zag.com for
reliability records and customer reviews.
If you have a particular used vehicle
you’re considering purchasing, you can
request a CARFAX® Vehicle History
Report from us. The cost to run the report
will be refunded to you when you finance
the vehicle with us.
Remember to take the car for a test
drive and get an inspection and appraisal
on the vehicle. The technician will check
the pre-owned vehicle’s mechanical and
cosmetic features, including: brakes, tires,
exhaust, hoses, steering and body.
After you’ve researched the type of
vehicle you wish to buy, you may get the
best deal by shopping at the end of the
month when dealers need to turn over stock
or by buying at the end of a model year.
Q: How can I tell if the used vehicle
I’m interested in is priced fairly?
A: You can find out the fair market value
at www.nadaguides.com.
Q: What resources does the Credit
Union provide for car buyers?
A: For members in the Washington,
DC metro area, our Auto Locating
Concierge Service will help you find
exactly what you want in your new car,
saving you time and money. You provide
us with the make, model, color and
options you want and we’ll work with our
network of area dealers to find that car,
negotiate the price on your behalf, and
arrange delivery to one of our branches.
You never have to step foot in the
dealership! Best of all, there is no charge
for this service when you finance the new
car through us.* To learn more about this
and other car buying services, call 703709-8921 (1-866-709-8921 toll-free).
Continued PAGE 16
Love your car but not the payments?
Bring your car loan to us and get up to $200!
Visit www.REALTORSFCU.org for details.
REALTORS® SPECIAL EDITION The Northwest Difference 15
Continued from PAGE 15
AUTO LOCATING
CONCIERGE
SERVICE
A MEMBER’S
TESTIMONIAL
Dear Ms. Lake,
I am writing to thank you for your assistance. I
called late in the day—it was after 3 pm—and
you advised me that you would make a few
inquiries on my behalf and would try to call me
before the close of business. In that short span of
time, you showed me the exceptional value of your
Auto Locating Concierge Service.
Prior to contacting you, I had spent a significant amount
of time researching my auto purchase. I initially narrowed the field to three
vehicles based on my needs, and then conducted further research—
including obtaining NHTSA crash safety ratings—which resulted in
my decision to purchase the Sonata. I contacted in excess of a dozen
Hyundai dealers in the greater Washington–Baltimore area, requesting
a price quote. Further discussions and negotiations with a subset of these
dealers gave me a pretty good idea of the price I likely would end up
paying for this car.
That was before I spoke with you. I had not intended to purchase the car for
another month, but my 16-year-old Toyota Camry had come back from the
repair shop with an estimate of almost $2,000 in badly needed work. And I
could not justify putting that much money into such an old car. The car was no
longer safe to drive, and I needed to make my new vehicle purchase before I
returned to work on Monday. Very simply, you made this possible.
I am deeply grateful for your work in obtaining such a great price on the
vehicle, and saving me over $1,400 in the price of the car.
Thank you, Ms. Lake, for your assistance and for saving me so much money! I
could not ask more of my credit union.
Kind regards.
Christopher B.
Herndon, VA
Online
Car Buying
Service
You can also search online for new and
used cars nationwide with our
Online Car Buying Service. Visit
www.nwfcu.zag.com for a simple, nohassle experience that helps you research
new and used vehicles, get safety
information, read reviews, and receive
price quotes on vehicles from dealers
in your area. You’ll save money
by getting low, upfront prices in
writing on new vehicles before
you visit the dealership.
Search for new &
used cars nationwide
and spend less time
& money at the
dealership!
Q: How much can I afford?
A: To get an estimate of your
monthly payment, use our handy
online calculators to input
your loan amount, financing
rate and term to calculate your
monthly payment. It’s important
to remember, however, that the
cost of your vehicle is more than
the monthly payment alone. You
also need to factor in the cost of
insurance, registration expenses, sales
tax, maintenance expenses, fuel cost
and personal property taxes (in some
states). Generally speaking, your total car
expenses should be no more than 25% of
your household income.
Q: Should I get pre-approved
before I buy?
A: If you prefer to shop around yourself
or if you live outside our Auto Locating
Concierge Service area, apply for a
Pre-Approved Auto Loan (PAL) check
that’s valid for 30 days. This way, you’ll
shop with confidence knowing that
your financing is already lined up. PAL
checks are accepted just like cash at the
dealership—simply endorse your check,
hand it to the dealer and drive home in
your car. For details and to apply, call our
Lending Center at 703-709-8921 (1866-709-8921 toll-free).
Q: What if the dealer is offering
0% financing?
A: If you’re in the market for a new car,
you’re probably thinking about the money
you can save by taking the 0% APR
financing that many dealers are offering.
But before you sign on the dotted line,
you should be aware of the drawbacks and
fine print details associated with your 0%
APR financing
deal that could end up costing you money.
First of all, 0% APR is usually reserved
for consumers with “excellent” credit
(credit scores of 750 or above). If you
don’t qualify, you could be bumped up
to a much higher rate. And since these
offers are commonly restricted to shortterm loans such as 12 or 36 months, your
monthly payment may end up being more
than you can handle.
Keep in mind, not all models may
qualify for 0% APR, so you could be
forced to select from cars that the dealer
has in stock—sacrificing the color,
options, or special features you want.
And be aware of the fine print. Dealers
will sometimes advertise that they offer
0% car financing and a rebate. But you’ll
most likely find that you can have one
or the other, but you can’t have both.
You’ll have to look at the numbers closely
to decide whether the rebate or the 0%
interest rate is the best way for you to go.
Bottom line: 0% APR financing
doesn’t work for everyone, so be sure to
read the fine print and ask questions if
you’re considering one of these offers.
You should also check with your Credit
Union, because a car loan from us may
save you even more than 0% APR
financing can. You’ll forego the 0% APR,
but you may be able to take advantage
of a cash rebate from the dealer. Add
the rebate to your down payment and/
or trade in, and you’ll reduce the amount
you need to finance, ultimately saving
you interest and lowering your monthly
payments. Plus, you’ll have the peace of
mind that comes when you do business
with a trusted financial partner, and get
the added convenience of having your
loan payments directly deducted from the
Credit Union account of your choice.
*This service is free when your vehicle is financed through
the Credit Union, otherwise a $50 fee applies.
Save an average
of $4,441* off MSRP
on new vehicles!
www.nwfcu.zag.com
*Average potential savings of $4,441 off MSRP for userconfigured new vehicles.Your actual savings may vary
based on multiple factors including the vehicle you select,
region, dealer, and applicable manufacturer incentives.
REALTORS® SPECIAL EDITION The Northwest Difference 17
NWFCU FOUNDATION CORNER
Get to Know Us
Service Promise #8:
We promise
to support and
participate
in our
communities.
T
he Credit Union has a long
tradition of giving back to
our community and making a
difference for our members. As the Credit
Union has grown, so has our commitment
to honoring that tradition. In December
2004, the Northwest Federal Credit
Union Foundation, a 501(c)(3) nonprofit organization, was founded by Juri
Valdov, former Northwest Federal Credit
Union President/CEO. The Foundation
was established to organize and promote
all of our charitable activities under
one organization with an emphasis on
financial literacy.
A five member Board of Directors
led by Chairman Gerrianne Burks,
Northwest Federal President/CEO,
directs and governs the affairs of the
organization. Daily operations are
2012 Scholarship recipients and NWFCU Foundation representatives.
18 The Northwest Difference REALTORS® SPECIAL EDITION
under the direction of the Foundation
Executive Director, Linda Rogus, and
three staff members, who promote,
coordinate and execute our mission.
Credit Union members and employees
support the Foundation through financial
contributions and volunteering. The
Credit Union funds all of the Foundation’s
administrative costs, so every dollar
donated goes directly to our programs.
Our activities emphasize young
people and focus in three main areas:
scholarships for college students
who demonstrate leadership and a
commitment to service; financial
education programs in our schools,
libraries and community centers; and
philanthropic presence where there are
special needs in our neighborhoods.
Our scholarship program was
established to honor the memory of Ben
DeFelice, a credit union pioneer whose
leadership, dedication and commitment
of 40 years contributed to the success
of Northwest Federal and its subsidiary,
Northwest Financial LLC. NWF LLC
was our first corporate donor to the
program. Their donation has allowed us
to increase the number of scholarships we
award. Ben’s legacy continues through his
daughter, Mary DeFelice, who has been
a member of the Foundation Board of
Directors since 2004. Mary continues to
serve as an active member.
Since 2005 we have awarded Ben
DeFelice scholarships totaling $454,000
to deserving students. In 2012 alone,
we awarded 20 scholarships totaling
$100,000. In 2007, we entered into an
agreement with the Central Intelligence
Retirees Association (CIRA) to
administer its scholarship program. Since
then, that program has grown under the
administration of the Foundation and has
recognized scholarship recipients with
awards totaling $78,000.
Credit Union employees
donated 600 pounds
of supplies to soldiers
deployed overseas.
One thankful recipient’s words tell the
story well: “The interest you have taken
in my education is humbling and I will
work very hard to represent the wellrespected name of Northwest Federal
Credit Union Foundation.”
Credit Union volunteers teach financial
education in our local partner schools
where our Foundation has also distributed
over $103,000 in staff development and
technology grants. We reach students
from preschool to college with workshops,
assemblies and mentoring programs. We are
proud of our work and were recently advised
by the Virginia Credit Union League that
we have reached more students than any
other credit union in Virginia.
We participate in and contribute to
numerous charitable programs, including
Reality Store participants learn how to budget for
monthly expenses.
community outreach and disaster relief
grants, as well as the Credit Union
Cherry Blossom Ten Mile Run® for the
benefit of Children’s Miracle Network
Hospitals and local children’s hospitals.
We provide school supplies, food and
clothing to families who find themselves
in difficult circumstances and outreach
to families at local homeless shelters. We
support our troops overseas and we work
closely with well-established and effective
charities like Special Olympics, Homes
for Our Troops, Adopt
a Soldier, Susan G.
Komen Race for the
Cure® and Susan G.
Komen Passionately
Pink for the Cure®.
For the last three
years we have
sponsored, organized
and hosted A Night
of Magic, a unique event for a very
special group—the patients of Children’s
National Medical Center, Inova Fairfax
Hospital for Children, and their families.
This first-class extravaganza is an evening
of celebration—a combination of prom,
ball, live entertainment and banquet—for
these young people who are dealing with
critical illnesses. They and their families
have been effusive with their
thanks: “What you all did for
those kids really was nothing
short of magical, that’s for sure!”
and “My kids said this was
their favorite night ever. I can’t
express how grateful we were to
see the excitement in their faces
and to watch them spend the
evening dancing without a care
in the world.”
Local, state and national
groups have recognized the
excellence of our programs with
an array of awards. We’re proud
of our achievements and we continue to
move forward with programs that will
enhance our members’ lives and better
our community.
A little princess dances during A Night of Magic.
The Credit Union is committed to providing extraordinary experiences
to our members. It is that same commitment that drives our vision
in supporting the communities where we live and work through our
Foundation activities. We want to be a trusted resource and partner
in our communities. “Making a difference” is not just a slogan, it is our
service commitment to others, the promise we keep.
REALTORS® SPECIAL EDITION The Northwest Difference 19
CALENDAR OF EVENTS
SUNDAY
MONDAY
OCTOBER 2012
1
TUESDAY
2
WEDNESDAY
Seminar:
How to Prepare, Pay
& Stay in College
3
THURSDAY
4
FRIDAY
5
30th Annual
Manassas Fall Jubilee
Manassas, VA
Stop by the CU’s booth
California REALTOR® Expo (Anaheim, CA)
8
Columbus Day 9
10
CU CLOSED
2012 NVAR Convention
& Trade Show
11
12
13
Seminar:
State of the Real
Estate Market
Northern Virginia Community
College, Annandale Campus
14
15
16
It Pays to Bank with Us!
6
Visit www.nwfcu.org for details.
7
SATURDAY
17
18
International 19
Credit Union Day
24
25
26
20 Seminar:
A Financial Guide
to Small Business
Ownership
International Credit Union Week (October 14–20)
21
22
23
27
66th Annual Vienna
Halloween Parade
Vienna, VA
Look for the CU’s float
28
29
NOVEMBER 2012
SUNDAY
30
MONDAY
31
TUESDAY
Halloween
WEDNESDAY
Unless otherwise noted, Seminars will be held 9:00 am–11:00 am at our
Herndon, VA Branch (Building I). Visit www.nwfcu.org for details and to
register. To RSVP for a seminar by phone, call 703-709-8900, ext. 6606.
4
Daylight Saving 5
Time Ends
6
Election Day 7
THURSDAY
FRIDAY
SATURDAY
1
2
3
8
9
10
Have a car loan with another lender?
REALTORS® Conference & Expo (Orlando, FL)
11
Veterans Day 12
Veterans Day 13
14
15
16
17
20
21
22
Thanksgiving Day 23
24
27
28
29
30
Diwali
(observed)
CU CLOSED
REALTORS® Conference & Expo (Orlando, FL)
18
19
CU CLOSED
$200 cash!*
Credit Union
65th Anniversary
25
26
SUNDAY
MONDAY
TUESDAY
WEDNESDAY
THURSDAY
FRIDAY
Our rates are likely lower than what you’re currently paying
and when you refinance your car with the Credit Union,
we’ll not only lower your monthly
payment but we’ll give you up to
SATURDAY
DECEMBER 2012
1 Seminar:
Visit www.nwfcufoundation.org for Toy & Coat Drives to benefit local families in need.
Collection bins are located in all Credit Union branches for your donations.
2
3
4
5
6
Greater Manassas
Christmas Parade
December 1
7
Preparing Your Home
for a Spring Sale
Santa Photo Day
9:00 am–11:30 am
Herndon & Vienna branches
8
Santa Photo Day
9:00 am–11:30 am
Gainesville &
Manassas branches
9
Hanukkah
10
11
12
13
14
15
Santa Photo Day
9:00 am–11:30 am
Chantilly &
Leesburg branches
16
17
18
23
24 Christmas Eve
25
30
New Year’s Eve 31
20 The Northwest Difference REALTORS® SPECIAL EDITION
Christmas Day
CU CLOSED
19
20
26
Kwanzaa 27
21 First Day of Winter 22
28
29
Apply today!
www.REALTORSFCU.org
*Rebate offer current as of 9/1/12 and subject to change without notice. $200 rebate is paid on loans greater than $10,000 and $100 paid on loans $5,000 to $10,000.
Rebate is paid once the loan has been funded. Internal refinances are excluded.
Presorted
Standard
U.S. Postage
P.O. Box 1229 • Herndon, VA 20172
PAID
PSB
REALTORS® SPECIAL EDITION
We’ve
Branched Out
Good change is here!
We’ve branched out to serve you better by merging with Northwest Federal
Credit Union, a $2.2 billion credit union headquartered in Herndon, Virginia, with a 65-year
history of financial strength and stability.
What’s in it for you?
Now you can make deposits and withdrawals from your account in-person at more than
4,600 shared branch service centers nationwide.* Plus, bank at any one of Northwest Federal’s
branch locations in Northern Virginia—Chantilly, Gainesville, Herndon, Leesburg, Manassas and Vienna.
Plus, enjoy access to:
• Basic Business Checking and Debit MasterCard®
• Residential and commerical mortgage loans
• Business lines of credit
• Low auto loan rates and convenient car-buying services
• $200 refinance rebate when you bring us your auto loan from another lender**
• And more!
Questions?
Contact our Member Care Center at 866-295-6038 (toll-free).
www.REALTORSFCU.org
**Services, hours and cash limits may differ at each location. Please contact the branch you would like to visit to confirm availablity.
**Rebate offer current as of 8/2012 and subject to change without notice. $200 rebate paid on loans greater than $10,000 and $100 paid on
loans $5,000–$10,000. Rebate is paid once the loan has been funded. Internal refinances are excluded.
Federally insured by NCUA