APRIL 2008
Why Credit Unions
Aren’t Banks
When you walk into our lobby,
or call a loan officer, what makes
Capital Educators Federal Credit
Union different from a bank isn’t
immediately apparent. The two
financial institutions may offer
similar products and services. But
there the similarities stop. Crucial
differences exist – in ownership, in
cost of borrowing money, and in use
of services.
• You own your credit union.
Credit unions are member-owned
not for profit financial cooperatives
dedicated to improving members’
lives. More than 89 million members own 8,600 U.S. credit unions
with combined assets of $732 billion. Stockholders own banks (with
combined assets of $10 trillion).
Banks make money for stockholders, not for customers.
Credit unions are the only democratically controlled financial institutions in the United States. You
and other members elect a volunteer board of directors to oversee the
credit union. The manager or president/chief executive officer reports
to this board. Bank directors, however, are paid and legally bound to
make decisions that benefit stockholders, not customers.
• Credit unions have the best
rates. Credit unions price loans, pay
dividends on funds you’ve deposited, and charge fees to provide you
with high-quality, low-cost services.
Banks price products and services to
make a profit.
Credit union loan rates also are
better. The average credit card interest rate is about three percentage
points better at credit unions vs.
banks. And credit union used car
auto loans average more than one
and one-half percentage points less
than banks’ auto loan rates. Credit
unions make consumer loans and
some member business loans. Banks
offer consumer loans, but really
emphasize business loans.
• Credit unions educate members
about money matters. They provide
publications such as this newsletter to keep you advised of rates,
loan sales, and financial trends that
affect you. Capital Educators stresses
education, providing materials and
holding seminars on financial planning, car, and home buying to help
you make informed buying decisions. Many banks simply advertise
their rates and sell their services.
Because you’re an owner of
Capital Educators, you have a say
in how we do business. Let us know
how you think we’re doing and
what services you want at your
credit union.
FREE Classic Checking Accounts
As a member of the Young Adult
Program you are eligible to receive many
FREE or low-cost services from Capital
Educators. Our program is exclusively
designed for members ages 16 through
21. As a member of the Young Adult
Program, you will receive one FREE
box of checks and a FREE photo debit
card when you open a new FREE classic
checking account.
For those of you that already have a
checking account, make sure you utilize
it by getting a FREE photo debit card.
These cards offer an additional layer of
security—at no cost to you—because
your photo AND signature are on the
face of the card allowing merchants to
easily identify you.
To take advantage of these great
offers and for more information about
getting your FREE checking account
and photo debit card, contact a Member
Services representative today at 8840150.
Credit Union Debit Cards Bridge
Cash and Credit Gap for Teens
Cash: You hate asking for it
and your parents hate doling it
out. You want to have access to
funds – but you’re not ready to
handle a credit card. A debit card
could be the answer.
Unlike a credit card, which is essentially a loan to pay later, a debit card works
the same as a check or cash, and
deducts money from your share
draft/checking account immediately. Everyone wins: You learn
to be a responsible money manager
and your parents won’t have to drain
their wallet every time you need cash.
BSU and High School Logo Checks
BSU logo checks and High School
logo checks are available at Capital
Educators Federal Credit Union. Show
your school spirit by displaying a school
logo imprinted right on your checks.
Not only will your checks show that
you are ‘true to your school,’ but the
credit union will donate a portion of
the proceeds from the sale of each box
of School Logo Checks purchased at
Capital Educators to the participating
school.
Support your school TWICE by ordering your School Logo Checks today.
Several high school logos within our
field of membership are available. Check
with Member Services to see if your
high school logo is available for custom
checks. If not, they will let you know
how to start the logo-approval process.
Contact Member Services at 884-0150 to
order your checks today!
For a Limited Time
Rates as low as
3.99%* APR
on terms of 36 months or less
Autos, RVs, PowerSports, & Real Estate
*Great rates also available on longer terms. Limited time offer. Some restrictions apply.
Auto Loans for First-Time Borrowers
If you’re a first time auto buyer, knowing some loan basics can help you
save money on car financing – for a lifetime.
1.As a first-time borrower, you can’t rely on a credit
history to speak for you yet. Still, paying your bills
on time can show you’re reliable.
2.Compare annual percentage rates and how they’re
calculated.
3.Consider buying a used vehicle, which can cost
much less than a new one.
Remember, the less you borrow, the more you’ll
save in interest. Usually, applying a manufacturer’s
rebate to reduce the amount you need to borrow will
be cheaper than taking a dealer loan. Combine a rebate
with our low loan rate and you may have the best of
both worlds.
Copyright 2007 Credit Union National Association Inc.
Information subject to change without notice. For use with
members of a single credit union. All other rights reserved.
FEDERAL CREDIT UNION
All Savings Are for Spending
Young Adult Certificates
You know what you want. You know how much it costs.
Now all you need to do is figure out how you’re going to pay
for it. And that requires saving.
Your goals often dictate which savings vehicles are best. Are
you saving for a long-term goal – college – or for a short-term
goal – that sporty new convertible? Is waiting a year or two an
option? Here are some savings vehicles and ways you can use
them to meet your goals.
Regular/share savings keeps your money safe and available.
Credit union share savings accounts are insured to $100,000
by the federal government. Regular share savings typically pay
dividends comparable to or better than interest paid on other
financial institutions’ savings accounts.
Money Market Accounts (MMAs) are insured share savings
accounts that offer limited check-writing privileges. They
generally pay higher rates than regular savings accounts. Call
Member Services at 884-0150 for information about Capital
Educators MMAs.
Share certificates also are insured savings carrying various
maturity terms (typically six, 12, 18, 24, 36, or 48 months).
Because you leave funds in the account for a fixed time,
share certificates pay higher dividend rates than do savings
or money market accounts. And, usually, the longer the term,
the higher the dividend rate. If you withdraw your money
before the term expires, however, you’ll pay a penalty. There
also is a minimum balance requirement of $250 for members
under 22 years old.
No matter what your goal or choice of savings vehicle,
Capital Educators can get you started through direct deposit
and payroll deduction. Your paycheck is automatically deposited to your Capital Educators account; then payroll deduction
regularly directs a certain amount to your savings account or
accounts. And before you know it, you’ll have what you need
to make that purchase.
Copyright 2002 Credit Union National Association Inc.
Information subject to change without notice. For use with members
of a single credit union. All other rights reserved.
Capital Educators offers Young Adult
Certificates for our members under age
22. Now is the time to start saving for
the future. Certificates usually earn a
high dividend and allow our members to enjoy the benefits of saving.
Most certificates usually require a
minimum balance of $500 to earn
high dividend rates. However, members under age 22 can start a Capital
Educators Young Adult Certificate for as
little as $250. This certificate is offered for
Young Adult Share Certificates, IRA’s, ESA’s,
and Medical Savings Accounts. The rate is
set by senior management (as are all our
certificates) and is subject to change without notice.
We hope that the increased rate and lower minimum balance will encourage savings among our young members. To
open your certificate, contact Member Services at 884-0150
today.
Credit Builder Loan Program:
Great Way to Build Your Credit
If you haven’t established credit yet or have unfavorable
credit, Capital Educators has the perfect program for you! Our
new Credit Builder Loan Program gives you the opportunity to
establish credit or improve your current credit score.
How it works is the program allows members to borrow
a maximum of $2,500 for up to 36 months. The loan proceeds will be deposited into a share certificate for a term that
­matches the loan repayment period. Loans are at the current
share certificate rate plus only 1.5% APR. The member will
make monthly payments, however, the full certificate balance
will remain frozen for the duration of the loan. When the
loan is paid in full, the member will receive the full certificate balance, plus dividends, and a potentially better credit
score! Payment histories are reported to the three major credit
bureaus on a monthly basis.
TELEPHONE
884-0150 or 1-800-223-7283
CAPITAL LINE
884-0151 or 1-800-801-9601
MAILING ADDRESS
FOR ALL OFFICES
P.O. Box 570
Meridian, ID 83680-0570
MAIN OFFICE (ATM)*
275 S. Stratford Dr.
Meridian, Idaho
THUNDERBOLT BRANCH (ATM)***
7450 Thunderbolt Dr.
Boise, Idaho
contact info:
PARK CENTER BRANCH (ATM)*
500 E. Highland
Boise, Idaho
McMILLAN BRANCH (ATM)*
12195 McMillan Rd.
Boise, Idaho
KUNA BRANCH (ATM)**
738 E. Avalon
Kuna, Idaho
NAMPA BRANCH***
16275 N. Marketplace Blvd.
Nampa, Idaho
HOURS
*Lobby: M – F, 8:30 a.m. – 5:30 p.m.
*Drive-Up: M – F, 8:00 a.m. – 6:00 p.m.
**Lobby: M – Th, 8:30 a.m. – 5:30 p.m.
**Lobby: Friday, 8:30 a.m. – 6:00 p.m.
*** Lobby: M – F, 8:30 a.m. – 5:30 p.m.
***Drive-Up: Saturday, 9:00 a.m. – 1:00 p.m.
INTERNET WEBSITE WITH
FREE HOME BANKING
Free Bill Pay
Free E-Statements
and Much More
www.capedfcu.org