Fall 2016
Getting to
Know the New
AeroAccess
Online & Mobile
Banking
In this issue:
New Online Banking2
New Mobile Banking5
Newbie Home Buyers7
Scholarship Winners9
Holiday Visa Rewards10
and much more!
The Newsletter for Aerospace Federal Credit Union Members • www.aerofcu.org
Contents
Introducing the New AeroAccess Online Banking2
Get to Know the New AeroAccess Mobile Banking5
What Newbie Home Buyers Need to know
7
Congratulations 2016 Scholarship Winners!
9
'Tis the Season to Reward Others and Yourself
10
Calendar Reminders
Columbus Day
October 10 (Branch Closed)
Thanksgiving
November 24 (Branch Closed)
Thanksgiving Observed
November 25 (Branch Closed)
Christmas
December 26 (Branch Closed)
New Year's Day Observed
Monday, January 2 (Branch Closed)
IMPORTANT INFORMATION FOR AEROACCESS USERS:
If you haven't completed the one-time re-registration process yet, you need to sign up
for online/mobile banking services by visiting our homepage and clicking on the
"New User" link in the AeroAccess Home Banking box. You will need to provide
the following information during the process:
• Account: This is your six-digit account number,
starting with a ‘1’.
• Random CAPTCHA Code: Type the characters
you see displayed in the box on the screen.
• PIN: This is your Call24 PIN number. If you have
never used your Call24 PIN, it is set to the last four
numbers of your Social Security Number, by default.
1
2310 E. El Segundo Blvd. | El Segundo, CA 90245 | www.aerofcu.org | (800) 795-2325
Introducing the New AeroAccess Online Banking
Over the years, our product offerings have evolved to meet the
ever-changing needs of our members. In 2010, AFCU was one of
the first credit unions to roll out a mobile app. Since that time,
smartphone adoption has soared amongst all demographics of
society; what was once a niche offering has become the platform
of choice for many AFCU members. As our usage of these devices
has become more sophisticated, the expectations of what can
be done with them has expanded as well. As a result, we have
been developing a new state-of-the-art online banking and mobile
banking platform for AeroAccess during the past year and here is a
closer look at some of the new features:
When you first login to AeroAccess, you will see the landing page
which is a summary of your AFCU accounts - savings, loans and
credit cards. Across the top of the page are navigation tabs. New in
the Accounts tab is Dashboard; as the name suggests, Dashboard
is a cluster of your account information combined with easy access
to tasks that you routinely perform when managing your finances
– review account activity; make transfers, loan payments, or bill
payments; manage your messages and alerts; view cashback offers; and maintain visibility of
scheduled transfers and bill payments. More importantly, the transactions you perform on your AFCU
accounts (savings and loans) are done in real time where account balances are updated immediately,
or you can select to schedule them for a later date. In addition to real time processing, you also have
the ability to perform transactions to your external non-AFCU banking accounts.
Other features under the Accounts tab include viewing your monthly online eStatements, exporting
your account history to a personal finance manager and viewing your accounts at other financial
institutions (in MoneyDesktop). Plus, a significant upgrade to the home banking platform is the
integration of your AFCU Visa credit card information. Now you can view your balance, account history,
make a payment and check your Rewards points all within AeroAccess!
Our new Bill Pay section of AeroAccess provides you with an efficient and cost effective way to manage
your finances. You have the ability to receive an electronic summary of your bill (eBill) and be notified
by email or text when a bill is due and never miss making a payment again. You can set up recurring
payments (or pay one time), send rush payments and organize your payment reports by grouping your
payees. You can also use GiftPay to send a gift or donation check with a personalized message
designed for any occasion. It's perfect for sending money to the kids!
Under the Services tab, you now have the ability to request a check withdrawal from your AFCU
savings or checking account directly from within AeroAccess (maximum check withdrawal limit
of $25,000 per day). You can now also stop payments on checks online, plus reorder
checks anytime. Another great new AeroAccess feature under the Services tab is
the integration of Mortgage Loans. No additional sign-on is needed to view your
mortgage loan details, make payments or view statements. How cool is that?
Continued on next page
Federally insured by NCUA
2
AeroAccess users can also click on the Apply for
a Loan section to apply online for a credit card,
personal loan or vehicle loan. This convenient
online application process takes just a few minutes
to complete and a response is usually received
shortly after the application is submitted. Now you
can apply for a loan anywhere, anytime!
If you need a savings account for a special
purpose, like holiday shopping, or a vacation club
account, click on the Open a Sub Account tab
and start saving right away.
One of the new AeroAccess features we are most
excited about is MoneyDesktop. This feature
allows you the ability to manage your AFCU
accounts and accounts you have at other financial
institutions from one central place.
This powerful tool allows you to view a
consolidated list of all transactions from every
institution, view what percentage of your spending
is in what transaction category, create a budget
and even track your net worth!
For ultimate control of your online experience,
click on the User Options tab. There we have
improved account maintenance allowing you to
manage your address, phone number, email
address, user ID and password. No more filling
out paperwork, just log in and update them as
needed!
Also available is enhanced online security features
where you can choose to strengthen your
internet banking login with a supplemental,
one-time security code that can either be sent via
email or text message to your smartphone. This
authentication method helps to protect the
integrity of your account. This is another way AFCU
is helping you keep your personal information safe.
3
If you have an AFCU Debit Card, then you will love the Cashback Offers in the new AeroAccess
Online Banking!
When you login to AeroAccess and view your Checking Account, you will see My Cashback Offers
at the top of the page above your Checking Account transaction history. These offers are generated
based on your debit card transactions through a random identification number so none of your
personal information is ever shared. To take advantage of an offer, just click to accept and then use
your debit card as you would normally at the merchant and the offer is automatically redeemed. Any
cash back earned is paid to your checking account on the last day of the following month from when
the offer was redeemed. You don't have to do a thing!
You can view all of your offers by clicking on the "View All Offers" button from the Cashback Offers
section at the top of your Checking Account History. Not interested in receiving offers? No problem,
just click on the "Stop Receiving Offers" link and offers will no longer be displayed for you. The option
is yours if you decide to take advantage of this benefit at a later date.
When you click on "View All Offers" you will be presented with the "Your Rewards Program" screen
that shows all your available offers. To activate an offer, click on the merchant logo and the offer
will be moved to the "Shop using your AFCU Debit Card" section. For more details about offers and
rewards, you can click on the "Expired Offers" and "Rewards Earned" tabs.
4
Get to Know the New AeroAccess Mobile Banking App
More members are using their smartphone as their primary banking device and we've ensured that
the most commonly used features of our internet banking site are also available on our mobile app.
You will need to visit the Google Play or Apple App Store and search for "AeroAccess" to download the
new AeroAccess app. You can login using your existing AeroAccess username and password. If you
are a first-time mobile app user or have not completed the one-time re-registration process, you can
tap either "Need a Login?" (Apple/iOS) or "New User Login" (Android) on the initial app screen and
follow the steps to login.
Once logged in, you will have access to all your AFCU Accounts including savings, checking, loans
and now your AFCU Visa® credit card! You can see your account balance, transaction history, and
deposit history, complete with an image of the check, so you'll know for sure which checks you've
deposited. You can also view your current and recent Credit Card statements all on your phone!
You can make Transfers to and from your AFCU accounts
(savings/checking/loans/credit cards) and other linked accounts
(other financial institutions). Moving money to different accounts has
never been so easy.
AFCU members who are enrolled in Bill Pay through AeroAccess Online
Banking, can pay bills with our Mobile Banking app. Existing users can
use the mobile app to send one-time payments, or edit/cancel existing
payments. There is also the option to view Pending Payments and
Payment History.
With the Deposit feature, you can easily deposit a check anytime, anywhere.
You simply take a picture of the front and back of your check using the camera
on your smartphone and tap "Submit". Then you can view your Deposit History
to verify which checks you've deposited.
Another new feature of our new mobile app is the ability
to view E-Statements. If you haven't enrolled in
E-Statments, you can do so in the online version of
AeroAccess at www.aerofcu.org. Now that you can view
your statement on your phone, there's really no need to
have them mailed to you - remember you can always
print out a copy if needed.
You can apply for a credit card, personal loan, or
vehicle loan directly from the AeroAccess Mobile
app with the new Apply for Loan feature. Complete
and submit an application and receive a response
in minutes!
5
Use the Locations feature to find the CO-OP Surcharge-Free ATMs, Deposit-taking ATMs and Shared
Branch Locations nearest you.
Quick Access allows you to log into AeroAccess Mobile Banking
using Touch ID or a four-digit PIN. This allows for a quick and
convenient way to access your account without compromising
security.
We realize that you likely have financial relationships with other
financial institutions. What most of us are missing is the ability to
manage those accounts from one central location with a service
provider you can trust. The MoneyDesktop feature lets you manage
all your accounts in one central place. What you see online with all
the bells and whistles are at your fingertips in the mobile app.
The Send Money feature is a unique feature of the new AeroAccess
mobile app and is not an available option online. It allows you to
send money Person-to-Person (P2P) over the ATM network to a
recipient of your choice. You only need to provide the recipient’s
email address or cell phone number. The recipient receives
notification and can use their debit card to receive the funds into
their account right away; no waiting for multiple days to receive funds.
If the recipient doesn’t have a debit card, they can receive the
funds by providing their routing and transit number to their
designated credit union or bank with their account number.
This process takes up to three business days to settle in the
recipient’s account.
The P2P Send Money feature is only available from the AeroAccess
Mobile app (not online). Since this is essentially an ATM
transaction, the amount sent via Send Money reduces your daily
ATM withdrawal amount (just like a regular ATM withdrawal). So,
like our ATM daily withdrawal limit, the daily limit for Send Money
transactions is $500.
We hope you are pleased with the new features within
AeroAccess Online and Mobile Banking. We are committed to
continuing our efforts to ensure that the AeroAccess online and
mobile banking platforms will meet the needs of the AFCU
membership for years to come!
6
What Newbie Home Buyers Need to Know
Buying your first house is an exciting time, but admittedly a little scary, as well. Your allies at AFCU
have your back. They can help you minimize anxiety by being prepared.
If you haven't already, call an AFCU Mortgage Loan Officer and have a conversation about the goals
you'd like to achieve. As a starter, here are some steps for you to consider:
Know your credit report
Go to annualcreditreport.com and get your credit report from all three of the reporting agencies;
you get one free report a year. This step is important because your credit score can make a huge
difference in how much you can qualify to borrow and the interest rate on your loan.
Usually, we suggest you order one credit report every four months from a different credit bureau.
But when your plan is to buy a house, save those opportunities and check all three at once
because your goal is to identify anything that could scuttle your loan or drive up costs. If you find
errors, correct them. That won't happen overnight so, even if your home purchase is several
months in the future, make sure your credit report is up to snuff now.
If the facts are accurate and reflect a less than perfect credit history, expect to spend at least six
to 12 months cleaning things up with flawless credit habits. However, it is worth the time and effort
because a low credit score can result in you paying a higher loan rate and cost you thousands of
dollars. For example, an increase of 1.0% in rate on a $100,000, 30-year mortgage results in
approximately $15,790 in interest costs.
Know what other documents will be useful
When you talk with a lender about applying for a home loan, you might need several other documents:
•W-2 forms. Make copies from the past two years.
•Paystubs. Copy your two most recent ones.
•Financial account statements. Collect statements, including those from retirement accounts,
for the past few months.
•Lines of credit. If you've opened any in the past six months, you'll need copies of those statements
because they might not show up on your credit report.
•Information about vehicles you own. Include make, model, and resale value.
•Auto-loan account information. Include account numbers and statements.
•Credit card account information. Include account numbers and types of cards, balances, and
minimum payments.
•Other loan account information. Include student loans and personal loans.
•Gifts. If any money for your down payment was given to you, identify how much and where it came
from. Be prepared to document that it's a gift and not a loan.
Having this information at your fingertips will make applying for a home loan a breeze.
7
Know what you can afford
This depends on a few things: Your income and its stability, how much you have for a down payment,
and your existing debt level are all elements that come into play.
Maybe you have heard the 28/36 guideline. This means:
• Your total monthly housing commitment—mortgage principal and interest, property taxes, and
homeowners insurance—should be no more than 28% of your income before taxes and other
deductions, called your gross monthly income. So, if your gross monthly income is $3,000, the
monthly house payment should be $840 or less.
• Your total debt—meaning house payments plus other financial obligations such as student loans,
car loans, and credit cards—should be no more than 36% of your gross monthly income. That
means if your gross monthly income is $3,000, all monthly debt payments should top off at
$1,080.
These are guidelines and a good starting point for you to understand how much home you can afford.
You also have to consider how much of your monthly cash flow you want to put into house payments
so you don't end up "house poor." Think in terms of what house payment you can handle and still
have money for savings, education, vacations, entertainment, childcare, and other priorities.
Know your savings status
You'll have to come up with anywhere from 5% to 20% down on a conventional home loan—or from
$7,500 to $30,000 on a $150,000 house. Here again, your credit union loan officer can help you
learn about options you're eligible for that can bring the numbers within reach.
In addition to a down payment, be prepared for these expenses, which you can't roll into your
mortgage:
• Closing costs for title search, appraisal fee, loan origination fee, and more
• Utility hook-up charges
• Prepayment of taxes, interest, and property insurance
• Moving expenses
You can expect to shell out for paint, window coverings, appliances, and other basics to make your
new place move-in ready. That's why you don't want to draw down your entire emergency fund to
come up with a down payment.
So if you don't have a down payment—and an emergency fund—it's a little premature to think about
buying a house. Here again, your credit union lender can help you calculate what you need and how
much you want to keep on hand for the inevitable expenses that arise after you buy a house.
Source: Susan Tiffany, Certified Credit Union Financial Counselor
8
Congratulations 2016 Scholarship Winners!
The AFCU understands the value and importance of education. Every year we award college
scholarships to five graduating high school seniors. We received applications from students around
the country. The decision process is always difficult due to the high number of qualified applicants.
We are pleased to announce the five winners of the 2016 Satellite Scholarship below. Each student
received $1,000 to go toward their college education.
Alan F. with Marvin L. Thomas,
President and CEO
Christopher H. with
Marvin L. Thomas,
President and CEO
Nicholas S.
Hao C. with Jeri Smith,
VP, Member Services
Shannon N. with Marvin L. Thomas,
President and CEO
Applications for 2017 will be accepted starting February 1, 2017. Applicants must be high school
seniors and AFCU members in good standing. All applications must be received by April 30, 2017.
For complete details and to download an application visit www.aerofcu.org/Youth/Products.
9
'Tis the Season to Reward Others and Yourself
This holiday shopping season use an AFCU Platinum Visa® Credit Card when buying presents for
friends and loved ones and earn Double and Triple Cash Back or CU Rewards! On November 25,
2016, "Black Friday", and November 28, 2016, "Cyber Monday", you get 3X the rewards on ALL
purchases including online purchases!* Plus, you'll receive 2X the rewards on purchases made in
December 2016 at retail, department, and jewelry stores.** This way everyone can have a happy
holiday season! That is, your family and friends will be happy because you’re showing how much
you care about them with a thoughtful gift; you’ll be happy because you earned bonus rewards for
something you do anyway – shopping; and as your credit union, we are happy whenever we can
help you achieve your financial goals. Holiday shopping with AFCU is a rewarding experience!
PLATINUM VISA
CASH BACK CREDIT CARD
• Earn 3% cash back on ALL purchases on Black Friday & Cyber Monday
• Earn 2% cash back in December at retail, department & jewelry stores
• Earn 1% cash back everywhere else and all year long
PLATINUM VISA
REWARDS CREDIT CARD
• Earn 3 points per $1 spent on ALL purchases on Black Friday & Cyber Monday
• Earn 2 points per $1.00 spent at retail, department & jewelry stores in December
• Earn 1 point per $1.00 spent everywhere else and all year long
Both cards offer the following extra benefits:
•
•
•
•
No Annual Fees
No International Use Fees
No Cash Advance Fees
No Balance Transfer Fees
•
•
•
•
Credit Limits up to $20,000
$100,000 Travel Accident Insurance Coverage
25 Day Grace Period for Purchases
24-hour Customer Service and Lost/Stolen Reporting
*Black Friday and Cyber Monday Triple Rewards offer good on ALL purchases made on November 25, 2016
and November 28, 2016. **December Double Rewards offer good only on purchase transactions at department,
retail and jewelry stores conducted December 1, 2016 — December 31, 2016. Bonus Rewards are for AFCU
Platinum Visa® Credit Cards only and are subject to change at any time without notice. Visit www.aerofcu.org for
complete details.
10
Presorted
STANDARD
U.S. Postage
PAID
WC
2310 E. El Segundo Blvd.
El Segundo, CA 90245
Cut out and mail in to win!
Youth Corner:
Win a $25
gift card!*
Have fun completing our coloring contest!
Congratulations to the winner from our Spring 2016 issue —
Aowyn M. from Eastvale, CA.
Name ____________________________
Age ______________________________
Address __________________________
__________________________________
Phone ____________________________
*Official Rules: NO PURCHASE NECESSARY. VOID WHERE PROHIBITED. Mail in your completed artwork, along with your name, age, address, and phone number
to be entered to win a $25 gift card! Limit one entry per child. One winner will be selected randomly and notified using the phone number provided. Odds of
winning depend on number of entries received. Entries must be received by November 30, 2016. AFCU is not responsible for lost entries. Must be younger than
18 years of age to enter. You may photocopy this page to use if more than one child in your family wishes to enter. AFCU employees, board members, committee
members, volunteers and their immediate families are not eligible to participate. First name and first initial of last name of winner may be published online or in
print. Submit entry to: AFCU, Attn: Youth Contest, 2310 E. El Segundo Blvd., El Segundo, CA 90245.