M ain O ffice: 3 30.49 3.832 5 L oa n Dept: 33 0. 493.7 602 O nli ne at www.s tarkcu.org 24-Hour Access: 330.493.3711 Anyhour Loan-by-Phone: 866.467.0427 Lost or stolen debit card call: 800.523.4175 Introducing the First Time Auto Buyers Program You never forget your first car. It seems that everyone has a story about an old rusty beater that blows blue smoke out the tailpipe and breaks down at the most inopportune times possible. But we at Stark Federal Credit Union want memories of your first car to be happy ones. We understand that a lack of credit history is the biggest barrier when it comes to getting that first car loan. It can be a chicken-or-the-egg game…how can you establish a good credit history when lenders won’t approve a loan? However, our new First Time Auto Buyer Loan Program is intended to help those who need a car but have not yet established a credit history. SEPTEMBER 2012 ISSUE Stark County Hunger Task Force to purchase four tons of food thanks to Shred Days The Stark County Hunger Task Force and Stark FCU wish to extend their appreciation to members for raising over $1,200 during the Shred Day events last month. Each dollar raised can purchase seven pounds of groceries. The food will help the hungry of Stark County. Stark FCU gave everyone who donated a reusable grocery bag or drawstring backpack. If you, a family member or friend is looking for their first car, give us a call! Stark FCU offers free pre-approvals, no hidden costs like application fees and no prepayment penalties. Call us at 330.493.7602 for more information or stop in to the Stark FCU office nearest you. Welcome back to school, kids! Kids up to age 16 will receive a free drawstring backpack when they open a new account or make a deposit of $5 or more into an existing account. One per member, please. While supplies last - hurry in! The events took place on Saturday, August 11 at the Dressler Road office and Saturday, August 18th at the Alliance office. About 200 local residents dropped off six tons worth of old check books, tax forms, financial statements and other personal documents. This material will be recycled into paper products, thus saving the equivalent of 97 trees. SEPTMEBER 2012 Does Stark Federal CU do mortgage loans? Attention members with a Christmas Account Can you believe it? There are only a few weeks until your Christmas account pays off. As promised, your funds will be transferred to your share draft (checking) or savings account during the second week of October. Stop in after October 9, 2012 for your complimentary Christmas account gift. This year’s gift will be a pack of ten Christmas Cards with artwork from employees of The Workshops, Inc. TWI is a division of the Stark County Board of Developmental Disabilities. Supplies are limited. Turn your hobbies into income Confusius once said, “Find something you love to do, and you'll never work a day in your life.” Baking, car repair, woodworking, photography and music are examples of hobbies that could be turned into a side business. Stark Federal Credit Union is offering assistance for anyone wishing to turn their skills and hobbies into an extra source of income. Call 330.493.7602 for more information. Yes! I’ve been assisting members with their mortgage and home equity needs for almost 3 ½ years, yet this question is still asked frequently. Stark FCU has provided and continues to provide quality first mortgage loans for our members. We offer a wide range of Conventional and FHA lending programs that can fit almost every members need, with a variety of terms to meet almost any budget. All this along with fixed and variable rate mortgages for either refinancing or purchasing. Call me, Steve, for more info 330.639.2300. Steve Pflugh Mortgage Originator Avoiding credit cards can hurt your credit score Credit cards have got a bad rap recently. It is true that overspending habits have led some people to ruin their credit. But used responsibly, credit cards are a vital part of managing household finances. Avoiding credit cards may be a good way to get rid of debt, but it's utter destruction to your credit score. Why? Because per Fair Isaac, the creator of the credit scoring system, there are 5 factors that make up your credit score, one of which is how you use and manage your credit card debt - a factor that makes up 30% of your score. That's 255 points! In order to prove to the scoring system that you know how to manage revolving debt, you MUST have active credit card accounts. Use your cards every month, for groceries, gas, etc. and pay them off every month. Establishing a history of ontime payments will help build a rock-solid credit rating. If you’re looking for a low-rate credit card with no annual fee and no games, talk to us in person or call 330.493.7602. It’s not surprising that many people are looking for ways to build (or rebuild) a good credit score. One effective way to do this is to reestablish a good payment history. That’s where our Credit Builder Loan comes in. A Credit Builder Loan, or “share secured” loan, is simply a loan that is guaranteed by the money in your share account. Since the loan is secured by your shares, the interest rate for a Credit Builder Loan is very low – currently 3.2% APR.* This loan is an excellent way to establish credit or help rebuild a credit history. Call us at 330.493.7602 or visit www.starkcu.org to get started. Tips for first-time car buyers STARK FEDERAL CREDIT UNION It’s no secret that the auto industry has had its share of challenges over the past few years. The silver lining is that many car dealers are offering attractive prices on both new and used cars. Here are a few pointers for buying that first car. Find a price range you’re comfortable with. This requires looking at your monthly incoming and outgoing expenses. A Stark FCU loan officer can help you determine a good payment plan that won’t strain your finances. You put your coins in, press the button and you're rewarded with big bucks. No, we're not talking about Las Vegas. We're talking about the coin counter at the Dressler Road office. Shop around. Some car dealers will use pressure tactics to get you to buy a car on the spot. Resist the urge. Remember, there are a lot of car dealerships and cars for sale in our area. Holiday Closing - Our offices will be closed on Monday, October 8th in observance of Columbus Day Online at www.starkcu.org Anyhour Loan By Phone: 866.467.0427 To report a lost or stolen debit card call 800.523.4175 If you’re a Facebook user, go to the Stark FCU Facebook page and click “Like.” We’ll update you with fraud alerts, valuable offers and all the great new things that are happening within your credit union. Exchange your coins for cash New or used? Of course, most of the time, new cars cost more than used cars. However, consider the costs of repairs and maintenance. Check to see if the car is still under warranty and, if so, find out exactly what that warranty covers. Office Hours Monday through Friday 9:00 a.m. - 5:30 p.m. Sat. 9:00 a.m. - Noon (Saturday drive-up only service at Dressler) Like us on Facebook With the coin counter, there's no longer a need to roll your coins. Simply dump your loose change into the machine and turn in your receipt to a teller for cash. Members with a checking account pay just 2%, compaired with 9% at other coin counting machines. Dressler Office 4100 Dressler Rd. NW Canton, OH 44718 Main Office: 330.493.8325 Main Fax: 330.493.8328 Loan Dept.: 330.493.7602 Loan Dept. Fax: 330.493.1619 Alliance Branch 310 Johnson Ave Alliance, OH 44601 Office: 330.821.7225 Fax: 330.821.2004 Cleveland Ave. Branch 3426 Cleveland Ave. NW Canton, OH 44709 Office: 330.493.8326 Fax: 330.493.8941 Online at www.starkcu.org Facebook: facebook.com/StarkFCU Twitter: twitter.com/StarkFCU STARK Federal Credit Union SEPTEMBER 2012 Saving Takes Time If you wait until you're 45 years old to start saving for retirement, you'll need to save about $24,000 per year just to reach a comfortable retirement level. But if you start when you're 25, you can reach that same level by saving just $4,000 per year. So use the simple tips below to start getting your savings on track right away. 1 The next time you get a raise, invest that extra money in your future. 2 If you're about to pay off a car loan or some other monthly expense, you can make a huge impact on your investment plans by simply adding that extra money to your retirement account. 3 Make your investments automatic. To make saving easier, sign up to have a specified amount conveniently deducted from your paycheck and electronically deposited into your savings investments. You'll consistently add to your savings, without even thinking about it. Individual Credit Member Name STARK FEDERAL CREDIT UNION by Larry Hackenberg 4 If you have access to a 401(k) re- tirement plan, make sure you are using it-especially if you get matching contributions from your employer. You'll double your money with the employer's match...and your contributions are generally taken out of your check pre-tax, so your savings cost even less in real, after-tax dollars. The most important point is to get started right away - not next month or next year, but right now with whatever amount you can. You can always increase the amount you invest...but you can never get back the compounding interest you'll lose by waiting. Remember...save today for tomorrow! Hackenberg Financial Group 2209 Fulton Drive NW Canton, Ohio 44709. Securities offered through Sigma Financial Corporation. Member FINRA/SIPC. Not NCUA or FDIC insured. Not a condition of any Credit Union Service and no Credit Union/Affiliate Guarantee. Not a deposit product and may lose value. EASY LOAN APPLICATION Joint Credit Joint Applicant’s Name Phone Number Cell Phone Number Purpose of Loan (Circle): Vehicle / Signature If vehicle, what year, make & model? Monthly Mortgage/Rent Payment $ Account Number Amount Requested $ Term Applicant’s Employer Monthly Income $ Joint Applicant’s Employer Joint Applicant’s Income $ Return this application to any office or fax to 330.493.1619.