2017
MEMBER NEWS
APRIL
APGFCU in the Community
PAGE 2
n 7 Ways to Make the Most
of Your Tax Refund
n Should You Consider an
Adjustable‑Rate Mortgage?
PAGE 3
n Honor a Member –
Spotlight a Soldier
n Tire Safety Saves Lives
PAGE 4
n A Call to Play Ball –
May 21, 2017
n Events
Join us for the
Annual Meeting
April 20, 2017
Doors open at 5 p.m.
APGFCU Arena, Bel Air
2016
APGFCU is continually active in the
communities we serve. Here are some
recent highlights:
Millionaire’s Club
APGFCU sponsored its first “Millionaire’s
Club” at North Harford High School, making
it the first school in Harford County to
host the popular youth financial education
experience.
“Credit unions have a tremendous
opportunity to empower the next
generation to take control of their financial
lives,” says APGFCU President & CEO Don
W. Lewis. “Personal financial management
skills are often not taught at home or
as part of a school’s curriculum. This is
where credit unions can help bridge the
knowledge gap. The earlier we can help
young people achieve financial literacy,
the greater the impact it will have on their
futures.”
Millionaire’s Club members at North
Harford are preparing to engage in The
Stock Market Game™ competitions, with
teams of students researching and trading
stocks on a “virtual” basis, pitting their
selections against other teams and learning
ins and outs of investing. In addition,
they are learning the basics of budgeting,
selecting financial services, protecting
their assets and identities, responsible
borrowing, career choice and more.
Educator Rewards Scholarship
APGFCU is proud to announce the recipient
of its 2016 Educator Rewards Continuing
Education Scholarship. Alysia Asp was
selected and presented with a check for
$1,000. Ms. Asp is a Visual Arts Educator
presently teaching abroad at the Shanghai
American School‑Pudong Campus Middle
School.
Educator Rewards is an extension of
APGFCU’s ongoing support of financial
education. Since 1995, APGFCU has
partnered with schools in Harford and Cecil
counties to provide free financial literacy
programs and wealth‑building resources to
youth and adults. In 2016, the credit union’s
financial educators taught or coached 861
sessions that reached 8,517 youths and
adults.
Cell Phones for Soldiers
Thanks to the generous donations of
its member‑owners, APGFCU collected
over 100 wireless phones, chargers and
accessories for Cell Phones for Soldiers in
2016. The donated items will be recycled
into prepaid calling cards and distributed to
U.S. soldiers overseas, enabling them to call
home for free. For more information, visit
CellPhonesForSoldiers.com. Local residents
can continue to support the collection
drive by donating wireless phones and
accessories at any one of APGFCU’s 11
branches.
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7 Ways to Make the Most of Your Tax Refund
A tax refund provides the opportunity to improve your financial situation.
Here are seven ways to get the most value from your refund check:
1. D
irect deposit into a savings account
2. R
educe credit card debt
3. U
se towards a home
improvement project
4. Create an emergency fund
5. Save for a child’s education
6. Boost retirement funds
7. Pay down a mortgage
Access the equity
in your home
Visit
APGFCU.com/HELOC
for our Home Equity
Line of Credit offer.
Should You Consider an Adjustable‑Rate Mortgage?
Q: Now that fixed mortgage interest
rates have increased, should I
consider an ARM?
A: That depends. Do you plan on
owning your home less than seven
years? Are you looking initially for
a lower monthly payment, with the
expectation that your income will
grow (or your expenses decrease) in
the next few years? While no one has
a crystal ball to predict the future,
if either of these scenarios fits your
situation, then an ARM product may
be the right answer for you.
Q: How do ARMs work?
A: The most popular ARM products
are called hybrid ARMs because
they combine both fixed and
adjustable‑rate features.
APGFCU offers the following hybrid
ARM products: 1/1, 3/1, 5/1 and
7/1. The first number represents the
number of years the interest rate
will be fixed and the second number
signifies that the interest rate will
adjust annually after the fixed period
ends. For example:
• 7/1 ARM: The rate will be fixed
for seven years, and after that,
the rate will adjust annually for
the remaining 23 years of the
loan term (using a 30 year term).
Q: Why should I consider an ARM over
a fixed-rate loan?
A: ARM rates typically start out lower
than fixed-rate loans. For example, as
of 3/1/17, we were offering a 5/1 ARM
at a rate of 2.750% (3.390% APR)1 and
a 7/1 ARM at a rate of 3.250% (3.523%
APR)2. This compares to a 30‑year
fixed rate of 4.125% (4.201% APR). If
we consider a loan amount of
$180,000, the principal and interest
payments of these three options stack
up this way:
• 30 Year Fixed = $872.37 per month
(not including property taxes or
homeowner’s insurance)
• 5/1 ARM = $734.83 per month
($137.54 less than the 30 year
fixed option / over five years,
$8,252 savings)
• 7/1 ARM = $783.37 per month
($89.00 less than the 30 year fixed
option / over seven years, $7,476
savings)
Q: What factors determine how the
rate adjusts following the fixed period?
A: We add a fixed margin (2.75%) to
the then current index value for the
1‑Year Treasury Constant Maturity
Rate and round to the nearest 1/8%.
Here’s an example, again using a 7/1
ARM:
• 2.75% (margin) + 0.82 (1‑Year
Treasury Constant Maturity Rate
as of January 17, 2017) = 3.570%,
rounded to the nearest 1/8% =
3.625%. This rate would be in
effect for the eighth year, and
then the rate would be set again
each year based on the same
factors.
Q: Is there a downside to ARMs?
A: The downside is that the rate is not
fixed for the life of the loan, which
could result in an increase to your
principal and interest payment in each
of the years following the fixed-rate
period.
Q: How high can my ARM rate go?
A: There are yearly and lifetime
interest rate caps that prevent the
ARM loan rates from adjusting too
high or too low. For example, the 5/1
and 7/1 ARMs have what are called
2/2/5 caps—the interest rates can
adjust a maximum of two percent up
or down in the first adjustment year;
a maximum of two percent in the
subsequent years; and a maximum of
five percent over the life of the loan.
Here is an example for a 5/1 ARM,
where the initial rate is 2.750%
(3.390% APR):
• In year six, the rate could adjust
to no more than 4.75%. In year
seven, the rate could adjust to no
more than 6.750% and no lower
than 2.750%. Over the life of the
loan, the maximum interest rate
would be 7.750%.
Q: Can I refinance to a fixed‑rate
product or another ARM when my
initial ARM rate is going to adjust?
A: Absolutely. At any time, you can
contact a mortgage representative at
888-LOAN-391 to discuss the options
that are best for you.
Please see bottom of following page
for disclosures.
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Honor a Member – Spotlight a Soldier
May is Military
Appreciation
Month!
Show Your Appreciation
May is Military Appreciation Month and here is a way for you to recognize your
hometown hero.
Nominate a member serviceperson for the APGFCU Honor a Member — "Spotlight
a Soldier" essay competition. Your military hero could be a friend, family member,
neighbor or co‑worker. Tell us in a minimum of 500 words to a maximum of 750
words why your serviceperson is a hero and how they are courageous, selfless,
humble and caring. If chosen, he or she will be awarded $1,000. To submit your
written essay, please drop it off at any branch May 1 – 31 or mail it to APGFCU
Marketing, P.O. Box 1176, Aberdeen, MD 21001 (postmarked no later than May
31, 2017). The winner will be notified on or about June 19, 2017. No Purchase
Necessary to enter or win. Please see the official rules at
APGFCU.com/SpotlightASoldier for qualifying information.
Tire Safety Saves Lives
APGFCU partners with Travelers Auto
Insurance to provide auto insurance
benefits to help you stay safe on the
road. One important safety measure is
having good tires. Travelers offers some
simple tips on how to check for proper
tire tread depth.
While the minimum safe tire tread
depth is 2/32″, consider replacing your
tires at the 4/32″ mark, especially if you
drive in rainy and snowy conditions.
A recent Consumer Reports study of
tires worn down to half of their original
tread depth (about 5/32″) found
increased risk of hydroplaning, longer
stop time in the rain, and reduced snow
traction.*
Luckily, you can test your treads using
spare change: Take a penny and place
it in multiple grooves around your tires.
If the top of Lincoln’s head is always
covered, you have more than 2/32″ of
tread remaining. If you can see all of
Lincoln’s head, it is time to replace your
tires.*
For an added measure of safety,
consider replacing your tires at
4/32″. The extra tread can help your
tires handle water and snow more
effectively. Using a quarter, your tires
have more than 4/32″ tread if the
top of Washington’s head is always
covered.
Basic checks like these take just a few
minutes and can help save lives. So put
that change in your pocket to good use
to help keep you safe.
If you are looking for more dollars
in your pocket, consider requesting
a quote with exclusive savings for
APGFCU members from the Travelers
Auto Insurance Program.
Call a Travelers licensed insurance
representative toll free at 800‑842‑5936
or visit travelers.com/APGFCU to get an
online quote.
Inspecting your tires
only takes a few
minutes and change
Check multiple grooves in your tires
with a few spare coins to see if they
have enough tread.
Source:
*http://www.consumerreports.org/cro/2012/12/how‑safe‑are‑worn‑tires/index.htm
Insurance is underwritten by The Travelers Indemnity Company or one of its property casualty affiliates, One Tower Square, Hartford, CT 06183. In CA: Insurance is underwritten by Travelers Commercial
Insurance Company, One Tower Square, Hartford, CT 06183,Certificate of Authority # 6519, or Travelers Property Casualty Insurance Company, One Tower Square, Hartford, CT 06183, Certificate of
Authority # 6521, State of Domicile: Connecticut. In FL: Homeowners insurance is not currently offered for new business. In TX: Auto insurance is offered by Travelers Texas MGA, Inc. and underwritten
by Consumers County Mutual Insurance Company (CCM). CCM is not a Travelers company. Coverages, discounts, special program rates or savings, billing options, and other features are subject to
availability and individual eligibility. Not all features available in all areas. Other terms, conditions or exclusions may apply. © 2017 The Travelers Indemnity Company. All rights reserved. Travelers
and the Travelers Umbrella logo are registered trademarks of The Travelers Indemnity Company in the U.S. and other countries.
Insurance products and services are not credit union deposits and are not insured by the National Credit Union Administration and are not guaranteed by APGFCU.
Rate valid as of 3/1/17 for qualified borrowers and is subject to change. Variable rate: APR and payment subject to increase after loan consummation. Rate is fixed for the first five years and adjusts
annually thereafter, based on a fully indexed rate. The initial rate can change every year after the first five‑year fixed period by no more than two percentage points, never to exceed five percentage
points above the initial rate. Based on a typical loan amount of $180,000 with a 75% loan‑to‑value, the monthly payment for the first five years is $734.83. Based on the current fully indexed rate of
3.625%, after five years, the monthly payment would be $808.18. Payments quoted are examples and do not include the cost of property taxes or insurance. Your rate and payment may vary. Loans
available only on primary and secondary single‑family residences or owner‑occupied condominiums located in MD, DE, VA, PA, NJ and FL. Subject to credit approval. Membership eligibility applies.
2
Rate valid as of 3/1/2017 for qualified borrowers and is subject to change. Variable rate: APR and payment subject to increase after loan consummation. Rate is fixed for the first seven years and
adjusts annually thereafter, based on a fully indexed rate. The initial rate can change every year after the first seven‑year fixed period by no more than two percentage points, never to exceed five
percentage points above the initial rate. Based on a typical loan amount of $180,000 with a 75% loan‑to‑value, the monthly payment for the first seven years is $783.37. Based on the current fully
indexed rate of 3.625%, after seven years, the monthly payment would be $813.35. Payments quoted are examples and do not include the cost of property taxes or insurance. Your rate and payment
may vary. Loans available only on primary and secondary single‑family residences or owner‑occupied condominiums located in MD, DE, VA, PA, NJ and FL. Subject to credit approval. Membership
eligibility applies.
1
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A Call to Play Ball – May 21, 2017
P.O. Box 1176
Aberdeen, MD 21001‑6176
APGFCU.com
410‑272‑4000 | 800‑225‑2555
Branch Locations
Visit APGFCU.com for branch
hours and maps.
Aberdeen
996 Beards Hill Rd.
Amyclae
1200‑A Agora Dr., Bel Air
APG
2402 Chesapeake Ave.
Bel Air
321 S. Main St.
Edgewood
1321 E. Pulaski Hwy.
Fallston
210 Mountain Rd.
Forest Hill
2010 Rock Spring Rd.
Havre de Grace
1045 W. Pulaski Hwy.
Laurel Bush
2113 Laurel Bush Rd., Bel Air
North East
2011 W. Pulaski Hwy.
My Loan Centers & ATMs
Elk Mills
1005 Elk Mills Rd.
Rising Sun
223D E. Main St.
Member Service Center
M‑F 8 a.m. – 8 p.m.
Sat 9 a.m. – 1 p.m.
Home Loan Center
M‑Th 8 a.m. – 5:30 p.m.
Fri 8 a.m. – 6 p.m.
ABA Routing & Transit Number
255075576
(use this number to arrange
electronic fund transfers)
Operation Statistics as of:
February 28, 2017
$1,179,054,834
$982,445,046
$1,055,847,483
121,303
APGFCU is not affiliated with any non‑APGFCU Internet sites
listed in this newsletter. These sites are provided as reference
only. APGFCU makes no representations about the content
on these sites or subsequent links from those sites.
Federally insured by NCUA
Events
ANNUAL MEETING – Thursday, April 20
APG Federal Credit Union Arena at
Harford Community College
Doors open at 5 p.m.
Meeting starts at 6 p.m.
BEL AIR KITE FESTIVAL
Saturday, April 8, 10 a.m. – 4 p.m.
Rockfield Park, Bel Air
Family fun for kids of all ages!
Free kites*, great music,
and affordable food.
Elkton
1204 E. Pulaski Hwy.
Total Assets
Total Loans To Members
Total Shares
Total Members
Baseball and Softball Teams – 11 and Under and 12 and Under
We’ll host our 13th annual Community Invitational at Ripken Stadium on Sunday,
May 21, 2017. We’re looking for 11 and under and 12 and under baseball
and softball teams to participate. Recreation league teams are encouraged to
participate.
To qualify, teams must be:
• Ages 11‑12
• Registered in Harford or Cecil County
Team registration is due by Monday, May 1, 2017, and will be taken on a first‑come,
first‑served basis. To register or ask questions, please email [email protected].
*While supplies last. For details, contact
Michael Krantz at 410‑638‑4550.
FREE EDUCATIONAL SEMINARS
• Retirement Realities for Women
Wednesday, April 12
• Home Buying Seminar
Saturday, April 22
• Financial Literacy Seminar
Saturday, April 29
• Home Buying Seminar
Saturday, May 6
• Getting in Credit Shape
Wednesday, May 17
Please visit APGFCU.com/Seminar or
call 410-612-2361 for seminar times and
locations and to register.
SHRED‑IT DAYS
Thursday, June 8, 9 a.m. – 1 p.m.
APG branch
Saturday, June 10, 9 a.m. – 1 p.m.
Aberdeen branch Laurel Bush branch
Edgewood branch North East branch
Holiday Closings Monday, May 29 for Memorial Day
Open a new
youth membership.
We’ll match your
initial deposit up to
$25
*
Hurry, offer ends
April 30, 2017!
APGFCU Visa® Platinum Preferred Collection
*New Youth Membership offer begins April 1, 2017 and ends
April 30, 2017. $5 minimum to open a savings account for new
members. Bonus of up to $25, paid at time of account opening,
will be deposited into savings account and must stay in the
account for 90 days. Offer applies to new memberships for
ages birth through 17 only. If the individual opening the youth
account is not a legal guardian, the account must be opened in
a branch. We may report to the IRS the value of any cash bonus
and any applicable taxes are the responsibility of the recipient.
Membership eligibility applies.
• Low introductory and standard rates
• No annual fees
• No balance transfer fees
Visit APGFCU.com/Visa or call 410-272-4000
to find the right card for you.
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