PS
PSCU P.O. Box 1854 1700 Sherman St. Wausau, WI 54402-1854
Local:715.842.9865 WPS employees:#7465 Toll free: 877.625.4844
7:15am - 1pm Tuesday - Thursday
7:15am - 2pm Monday & Friday
Public Service
CREDIT UNION
Sept./Oct. member newsletter
PSCU strong and ready to roll into spending season
F
all is in the air and kids are back in school for
another year. Here at Public Service Credit Union
we have completed all of our yearly financial
exams. First, we had an external examiner in the office
to review our financials, loans, policies and gave opinions
of any areas of concern. Following that inspection, the Office
of Credit Unions came for their 18 month review of financials,
policies and loans and reviewed our external exam for any areas of
concern. As expected, we had good reviews from both examiners.
Student loans from PSCU
Compliance continues to be the biggest challenge for
financials today. One area that continues to decline
is our loan volume and we continue to try and give
the best rates that the credit union can offer. Still,
the credit union is strong and healthy and with today’s
economic times, we continue to be active and make
Sandy Leszczynski the changes to get through the tough times. Thanks
president, PSCU
to all that use the credit union. We hope to be around
for many years to come.
Need help securing a student loan?
PSCU can help. We have teamed up
with Sallie Mae to offer our student
members multiple loan programs.
Check out the link on PSCU’s home
page at pscu-wausau.com to find
more details about this great new
opportunity. It’s fast AND easy, so
find out more today!
NEW
at PSCU: Deduction reimbursement for your automobile
A
uto deduction reimbursement provides coverage on an
auto loan effective upon date of enrollment and will
continue for a time period based on the plan purchased.
PSCU offers three different auto deduction reimbursement
policies.
These policies pay your deductible up to $500 per loss (limit
of two losses per year) when claim is filed and paid with
primary insurance carrier.
1.
Plan 1: One year of auto deduction reimbursement
coverage on an auto loan from the credit union
[free to members].
2.
Plan 2: Two years of coverage on an auto loan when
you purchase GAP insurance. GAP insurance is
$295.00. [No additional cost for the auto deduction
reimbursement.]
3.
Plan 3: Three years of coverage on an auto loan
when you purchase GAP insurance and extended
warranty coverage with the credit union. GAP
insurance is $295.00 and the extended warranty cost
is based on the vehicle. [No additional cost for the
auto deduction reimbursement.]
Contact the credit union today at 715.842.9865 if you would like
more information about this program.
A newsletter for PSCU members
PS
Sept./Oct. 2013
Public
Service
CREDIT UNION
Holiday loans are back at PSCU
Financial Report
As of August 31, 2013
Loans..............$6,811,651.81
Shares.............$9,775,103.82
Reserves........$2,655,867.84
Assets.............$12,458,115.12
S
anta has his helpers. But what
about you? How will you make
the holidays all shiny and bright? A
holiday loan from the credit union
to the rescue! These loans can
actually save you money. Rather
than overextending yourself on
credit cards (some of which may
have interest rates of 25% or higher)
determine how much you need for
your holiday expenses: toys and gifts, gift wrap, cards,
postage, entertainment, travel and so on. If it seems
as though you may be spending too much, think about
ways you can economize. For example, host a holiday
brunch instead of dinner or invite guests to bring their
specialty dish rather than footing the entire food bill
yourself. Once you’ve arrived at a figure, see the credit
union for your holiday loan. Use these funds for your
holiday spending. Having a pre-determined amount and
a plan for spending puts you in control.
Members..........1340
Dividends declared: 3 rd Quarter 2013
Shares.........0.30%....0.30%APY
IRA’s.............0.40%....0.40%APY
Subject to change without notice
FA C T
LOAN SPECIAL
For a limited time.
Up to $2,500.00
12 month term
2.5% APR rate
Example: $211.17
monthly payment
on $2,500 loan
borrowed.
2.
3.
F I C TI ON
Q:
A: FA C T
Three great ways to reduce your debt
1.
or
Information you can use NOW!
Once you pay off any type of installment loan, continue to make
“payments” to your savings account at the credit union. If it isn’t possible
to save the entire amount, then try to make at least half of the payment you
were making.
Make one extra mortgage payment each year. This can save you thousands
of dollars in interest. If making one extra payment each year is too much,
divide your mortgage payment amount by 12, and add this amount to your
monthly payment, you not only save money over time but it also increases
the equity in your home.
Do PSCU loan rates change
often?
The credit union is always
trying to lower its loan rates
to better serve YOU! Contact
PSCU staff at any time, or
check out the web site to
keep up-to-date on the
latest loan rates.
CURRENT LOAN RATES
For motorcycles, vehicles,
boats and motorhomes
2006-or newer:
24 months...2.60%APR
36 months...2.60%APR
48 months...2.80%APR
60 months...2.95%APR
72 months...3.15%APR
Make it a goal to get rid of your credit cards, student loans, car payments,
etc. Figure out how much interest you are paying. Then, make a list
of each debt, including creditor’s name, interest rate, and the monthly
minimum payment that is due. Pay the most amount each month to
the creditor with the highest interest rate. This will help reduce your
outstanding debt.
[$20,000 or more financed]
84 months...3.25%APR
[$25,000 or more financed]
*Will finance NADA retail value
not to exceed 100% of value.
What you need to know about APR and APY
W
hen you see an ad for a loan or for a savings certificate, you’ve probably
noticed the terms “APR” and “APY.” But what do they mean?
APR stands for “annual percentage rate.” This is the price you pay per dollar, per
year for the credit you use. It’s a standard measure required by law, and all else being
equal, the lower the APR, the better the credit bargain. It helps you sort out loans
with different fees and terms by providing an “apples-to-apples” comparison. For
example, is a loan with a lower stated interest rate, but high fees, a better deal than
one with a higher stated rate and low fees? Because APR calculations account for
fees to determine a single rate you can quickly find the answer.
APY is “annual percentage yield” and its disclosure is also required by law. APY
is the yardstick for the interest being paid on savings accounts or certificates. The
higher the APY, the more money you’ll earn on your savings.
Mark Your Calendars
Jan. 1, 2013
March 29, 2013
May 27, 2013
July 4, 2013
Sept. 2, 2013
Nov. 28, 2013
Nov. 29, 2013
Dec. 24, 2013
Dec. 25, 2013
Januar y 1, 2014
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