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Summer 2004 Newsletter

Traveling Far and Wide on Your Vacation?
Take a Credit Union Card With You and Save!

Plastic cards are usually easier and less expensive to use than travelers’ checks, and are far safer than carrying lots of
cash, wherever you go.

VISA TravelIncreased forgery has forced many merchants, especially those in tourist areas, to stop accepting travelers’ checks. Some stores and restaurants are installing cash dispensing ATMs to accommodate patrons. Traveling with your credit union ATM, debit, and/or credit cards, and memorizing your PINs (NEVER write them in your wallet) will give you 24/7 access to your money.

How do you know which ATMs will accept your credit union plastic card? Just look on the back of your card at all those small logos. Find an ATM machine with any one of those and your card is compatible.

Using an ATM in other countries for local currency is generally far less expensive than going to an “Exchange Window,” not to mention much faster than standing in line, and more convenient than adjusting your vacation plans to their limited hours of operation. Your withdrawal in Euro or Yen will be translated into US$ at a more favorable exchange rate, and posted to your account back home.


Check “Float” Is Floating Away

Have you noticed unusual things happening to your share drafts (checks) over the last year or so? Have you handed one to a clerk only to have it run through a machine, then given back to you with numbers printed on the back? When you reconcile your checkbook, does it seem like items are clearing in less time than before?

In the coming months you may read or hear about “ Check 21” which is the name of the government’s efforts to enhance the check clearing process in the twentyfirst century. Most of the proposed changes will be happening behind the scenes where you will never notice them.

These changes, and more, are parts of our government’s long standing effort to make our national payment system run more efficiently. Preparing, mailing, storing, reconciling and retrieving paper is a significant overhead expense not only to government but to businesses as well. Accounting studies claim it costs as much as $45 to send someone a check, rather than an electronic payment. Who ends up paying the costs? Eventually you, in higher taxes and product prices.

Automation technology has become less expensive as well as easier to use. Scanning your check at the register eliminates steps to deposit it to the store’s account. There are benefits to you, too. Errors are less likely to occur, and you get your original back. Lower store overhead usually means lower prices, or slower increases in prices, on what you buy.


Save or Borrow
What To Do About Changing
Interest Rates

Yes, interest rates will change, though they are less predictable than the weather. No one really knows when, how much or in which direction changes will be made. So now is the time to act to capture the benefits of your own interest rate predictions!

If you think interest rates will be going up, now would be a good time to make major purchases that require financing, like a new vehicle, home improvements, or taking the family on a reunion vacation or cruise. See your credit union loan officer about the great rates that are available now.

If you think interest rates will go lower or stay as low as they are now, then now’s the time to focus closely on your savings goals. In a low interest rate environment, regular savings deposits are even more important if you are to reach your goals for retirement, education, or the wedding of your dreams. Visit with your credit union representative to set up an appropriate direct deposit or regular savings plan.


Life Made Easy... Bill Paying The Simple Way

With all the hustle and bustle of your daily routine, it is important to rid yourself of all the extra nuisances you may have. Sitting down for an evening of bill paying can be quite a headache. However, the Credit Union’s Electronic Bill Payment service can help to alleviate the added stress. After you sign up for this service, paying your bills is simple – you just need to schedule your payment on-line at www.northpennfcu.org and the Credit Union will take care of the rest! To further simplify the process, the Credit Union offers these additional features:

Automatic Payments. You can schedule recurring payments of the same amount to be paid automatically each month for your mortgage or other set loans.

Payee Profiles. You can also establish payee profiles to avoid entering the same contact information each month. Therefore, even if the bill amount varies each month, you will not have to waste time re-entering the same information.

Affordable. You can have this service absolutely FREE for the first two (2) months. Then you pay only $4.75 per month for the first 8 bills, and $0.40 for each bill thereafter.

Convenient. You only need to schedule for the payment of your bill five days prior to its due date. If you have any questions or would like to sign up for the Electronic Bill Payment service, please call or stop by the Credit Union at your convenience. You could also print the form off of our website and mail it to the Credit Union. Don’t forget to simplify your life and sign up
today.


Graduate to the Credit Union

If there’s a graduate in your life this season, give the gift that lasts forever: an account with the Credit Union. Whether your graduate is heading to school or stepping out into the real world, an account with the Credit Union will get them off to a great start.

Savings/Share Account – Regular savings habits that start at a young age generally last a lifetime. Then, when it comes to making a large purchase or paying college tuition, debt can be held to a minimum.

Share Checking Account – With no monthly fee and no minimum balance, a Credit Union share checking account offers money-saving convenience. Add an ATM Check Card for easy access to funds at school or on the road.

Vehicle Loans – Low rates and flexible repayment plans make the Credit Union a simple alternative to dealer (or parental) financing, especially when little or no credit history exists.

Once your happy grad discovers the many benefits of the Credit Union, they will thank you for your wisdom. Call us today for more information on family eligibility and opening an account.

Holiday Closings:

Labor Day      Monday, September 6, 2004
Columbus Day      Monday, October 11, 2004

For additional online newsletters see below:

Fall 2001
Summer 2001
Summer 2000
Fall 2000
Winter 2000/2001
Spring 2001
Winter 2001-2

Spring 2002
Summer 2002

Fall 2002
Winter 2003
Spring 2003
Fall 2003
Winter 2004
Spring 2004

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