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70561B1212
JAN U A RY
2013
TEENAGE
DRIVER’S DILEMMA:
How to
Afford It...
By Spencer, age 17
Driving a car doesn’t have to break your bank;
with a few simple tricks you can keep both the ID and money pockets of your wallet happy.
New or used?
Buying used is usually a no-brainer for teenagers. Talk to family and friends. They might be willing to sell their cars at a discount if they know it’s helping out their kin.
FIRST-TIME
AUTO BUYING
TIPS:
Questions to think about.
First insurance premium
Most teenagers stay on their parents’ insurance plan, but it may be cheaper to get insured
elsewhere. Shop around and look for the discounts most companies offer.
Other ways to save:
Take driver’s Ed classes.
Keep up with your schoolwork—most companies offer discounts for good grades.
Drive safely and keep a clean record.
Purchasing your first automobile is an
exciting time. But while you’re probably
thinking about questions like, “Which car
will impress my friends,” or “What color
should I get,” you’ll want to consider other
traits. Finding the right vehicle is about so
much more. Consider the following questions to help you get started:
Save on gas
“What is the safety record?” You’ll want
to drive as safe as possible. You can find
government safety ratings, recall notices
and more at www.safercar.gov.
“What are the maintenance costs?”
Sometimes a more expensive vehicle
will actually cost less in the long run.
Newer vehicles tend to have fewer
maintenance needs.
“Has this vehicle been in an accident?”
We recommend ordering a CARFAX
report (www.carfax.com) to get the
details on a particular vehicle’s history.
“What will the financing cost?” URW
Community Federal Credit Union can
help with this one! We have low loan
rates and affordable terms. Just call or
stop by to get started.
Make your car more efficient
When going to fill up, shop around and make sure you’re getting the lowest price. I use the
GasBuddy app on my smartphone—before I even leave the house.
At the pump, make sure you’re using the lowest grade recommended for your car—usually the
big button with an 87 on it.
Fill up when it is cooler, such as in the early morning or at night. Gasoline is measured and sold
by volume, so when it is denser in the chilly weather, you get slightly more gas for your money.

Make sure your gas cap is on tight so no fumes can escape from your tank.
Change the air filter frequently to keep your engine from working harder than it has to.
Keep the proper air pressure in your tires so your car drives efficiently.
Lighten the load you carry in your car.
Drive the speed limit—it’s better for your gas mileage, helps you avoid pricey speeding tickets,
and is safer.
Don’t jerk or rapidly speed up or slow down. You’ll save gas by gradually and smoothly getting
up to speed.
Minimize the time you spend idling. When I pick up friends, I will turn the car off while I wait
for them.
From tune-ups to major repairs
For simple fixes, where the parts are small, usually labor is the biggest cost of taking your car
to the shop. Same with routine maintenance—such as oil change, filling the windshield wiper
fluid, or inflating the tires. Learn how to do it yourself.
If you have to take your car to the professionals, shop around for the best price or for deals.
Many shops will match a competitor’s price on a similar service.
MOST IMPORTANT: Put aside some money in an emergency share savings
account at URW Community Federal to pay for unexpected repairs.
Copyright 2012 Credit Union National Association Inc. Information subject to change without notice. For use
with members of a single credit union. All other rights reserved.
Holiday
Closing
EASTER
Monday, April 1
Why Your BFF – Best Financial
Friend – is your Credit Union
Whether you’re heading off to college, starting a new career,
or simply sticking close to home, make sure you stop by
URW Community Federal Credit Union for all of your financial
needs. We can help you stay in touch with your money in
many different ways:
A Quarterly
Publication of
URW Community
Federal Credit Union
Our online banking and phone banking systems make
it easy to keep track of your money.
URW Community FCU Checking Accounts offer no
monthly fee and no minimum balance requirement.
You will love the convenience of our debit card.
Our low-rate VISA Credit Card is the perfect way to
begin establishing your credit with a manageable
safe limit.
Keeping
YOUNG MEMBERS
We are here to help you establish good financial habits.
Please let us know how we can serve you!
Informed.
TOP 10 REASONS to Join Our
Credit Union if You’re in High School
From the outside, URW Community Federal might look just like
any other financial institution. It’s a place to go for savings and
checking accounts, credit cards, car loans, and much more.
539 Arnett Boulevard
364 Lowes Drive, Suite H
142 S Main Street
1901 Goodyear Boulevard
701 Broad Street
Danville, VA
But look closer and you’ll see that credit unions are a special
kind of financial institution, unlike any other. How so? And how
does this affect you while you’re in high school? Take a look at
these 10 reasons why URW Community Federal is unique.
1. The focus is on you, not profits. Because URW Community
Federal is a not-for-profit financial institution, we charge fewer and lower fees, have lower
minimum balance requirements, and offer better loan rates than banks.
2. You pay lower fees. When it comes to fees, the credit union difference is striking. Thinking
about opening a checking account? Getting a car loan? Maybe even loans for college? While
banks are in business to make as much profit as they can to please stockholders, we typically
offer significantly lower and fewer fees on everything from checking accounts to loans.
3. You get more back. We often pay higher dividend rates on savings accounts.
4. Credit unions provide financial education for you. We have the resources to teach teens
how to budget their money, manage a checking account, and establish credit.
5. Credit unions frequently are available where other financial institutions aren’t. Credit
unions are available on many college campuses and now in some high schools. They’re also
available in cities all across the country.
6. No-surcharge ATMs. We offer fee-free ATMs (automated teller machines) that any credit
union member can use.
7. You’re an owner. Credit unions are member-owned financial cooperatives. This means that
the people who belong to URW Community Federal are its owners, not just customers like
at other financial institutions.
8. We give you “A” for effort. Show us you’re serious--by saving some money regularly, having
pretty good grades, maybe holding a part-time job--and we’ll reward you with financial products that most banks only provide to adults.
9. Student-friendly products. Credit unions look out for the best interest of students. We
understand students’ needs and work with you to help achieve your financial goals. Want
to study abroad? Buy a computer? We’re happy to help you out with any of your financial
goals.
10. You get extra attention. URW Community Federal is here to serve you! Our employees
are here to answer questions or offer one-on-one counseling to help you make your best
financial choices.
Copyright 2011-2012 Credit Union National Association Inc. Information subject to change without notice. For
use with members of a single credit union. All other rights reserved.
Local Phone:434-793-1278
Toll Free:866-879-6328
Fax:434-799-0949
Teller Talk:877-793-5831
www.urwfcu.org
Edited by Cheryl Doss
Federally insured by NCUA
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