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What's New

Make Safe Online Payments from your Checking Account with Paysecure

Changes in 2010 for Converting to a Roth IRA

Make Your Mortage More Comfortable!

Drive a New Ride in 2010! Rates as low as 3.99% APR

Budgeting and Debt Management Solutions for Members

Late payments: working on a solution with you

2010 Roth IRA Conversion: Income Hurdle Eliminated
A message from the MEMBERS Financial Services program

Recent changes in the tax code have made traditional IRA conversions into Roth IRAs more accessible by eliminating the $100,000 modified adjusted gross income (MAGI) limit. This means owners of traditional IRAs (and certain retirement funds, such as 401(k), 403(b), and pension plans) can take advantage of the potential tax savings a Roth IRA provides.

Roth Conversions
Click for document that outlines the new rules and some examples for coverting to a Roth IRA.
Beginning in 2010, the income limit for conversions or rollovers goes away and everyone is eligible. Not only that, for conversions done in 2010, the taxes due when switching to a Roth IRA can be deferred and spread across two years - 2011 and 2012. For those considering a Roth conversion, that could provide real advantages.

The main advantage of a Roth IRA is that withdrawals starting at age 59½ can be made free of income tax. Deciding whether it pays to shift from a traditional to a Roth IRA can be complex, and just because you can convert starting in 2010 doesn't mean you should. You need to weigh the possibility of future tax savings from a Roth conversion against the tax bill that will come due now. If you believe your tax bracket may be higher in the future, a Roth conversion might be the right move.

Before deciding on your IRA conversion plan, speak with Joseph De Maria, the MEMBERS Financial Services representative located at the University Credit Union office. Joseph can schedule a no-cost, no-obligation appointment with you to review your needs. Please call Joseph at (310) 477-6628, x2309 for more information.

Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. FR120908-9CD3

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New Way to Pay for Online Purchases

If you hold a Visa Check Card from University Credit Union, you have a new way to pay for online purchases -- using PaysecureTM.

PaysecureTM allows you to safely use your Visa Check Card and PIN for purchases made at select merchants.

Plus, it's a great way to budget since the transaction amount comes directly from funds you have available in your Checking Account. Find out more about PaysecureTM.

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Make Your Mortgage More Comfortable!

Start 2010 off with a better mortgage by refinancing your first mortgage loan with University Credit Union!

15-YEAR FIXED-RATE LOAN

  • 4.50% rate, 4.54% APR*
  • No points
  • Free Appraisal
  • Payments never change
  • UCU doesn't sell the loan
  • If you need help to get out from under the stress caused by your current high payments, you don't need to wait any longer. Make your mortgage more comfortabe by refinancing with UCU!

    Our Real Estate Loan Representatives are ready to help you with your refinance options at University Credit Union. Just give them a call at (310) 477-6628, x 2304.

    *APR=Annual Percentage Rate. Rate and terms effective 01/25/2010 and are subject to change without notice. Rate of 4.50% is a fixed-rate for 15 years (4.54% APR). Monthly payment per $200,000 borrowed at 4.50% = $1,529.99.

    Loans are available for first mortgage refinances only, based on a maximum CLTV of 75% and maximum loan amount of $417,000. Available to members residing in California and on owner-occupied member residences (single-family dwellings, condos, townhouses and 1-4 unit multi-family dwellings) in Los Angeles, Orange, Ventura, Riverside, San Diego and San Bernardino counties. Loans issued subject to credit review and approval. Not all applicants will qualify. Additional restrictions may apply.

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    Drive a New Ride in 2010!

    Looking to buy a new car in 2010? Take advantage of the new year deals and get the new car you need - efficient size, better mileage and improved reliability- even in today's economy!

    Let UCU help! To make your new vehicle purchase even more affordable, our flexible rate structure gives you more options and even lower rates.

    Choose a shorter term and make a down payment and you can pay as little as 3.99% APR*! Check out the new affordable options available to you.

    New Auto Loans (2009-2010)
    Term 80% financing 100% financing
    36 months 3.99% APR 4.99% APR
    48 months 3.99% APR 5.24% APR
    60 months 4.49% APR 5.74% APR
    72-84 months 4.99% APR 6.24% APR

    Second Chance Financing Available
    If you recently purchased a new car with bank or dealer financing, but learned our rates are better, we now offer second chance financing. Bring us that loan within 90 days of purchase and we'll refinance it at our new car rates!**

    Click for more car loan information or apply online today!

    *Annual Percentage Rate effective 1/01/2010 and subject to change without notice. Loans available only for new vehicles purchased and registered in California. Loans issued subject to credit review. 84 month term on loans of $30,000 or more. Monthly payment per $1,000 borrowed for 48 months at 3.99% APR=$22.58. **Available for new vehicle purchases only (New purchase for 2009-2010 model year cars only).

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    Late payments: working on a solution with you

    If you are feeling anxiety, fear or uncertainty about bills that are getting harder to pay or past due, you are not alone. More people are finding themselves in this situation and aren't sure what they can do to get help.

    If you have a credit union loan that is past due or is getting harder to make, the first thing we suggest is to contact a credit union representative.

    For members that have a home loan and are concerned about making payments for their loan, UCU has a Web site with some free information: Early Delinquency Intervention: Saving Your Home From Foreclosure.

    UCU will work with you to find a solution. Make the call today. Please contact a representative to discuss your loan repayment options by calling (310) 477-6628, x2815 (Monday - Friday 7:00 a.m. - 5:00 p.m.) or submitting an online contact form.

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    Go Paperless with MasterCard eStatements!

     

    Simplify your life by eliminating the wait for your UCU MasterCard statement! No more filing or mailing in payments, just a friendly email when your statement is ready!

    Enroll in credit card electronic statements today and start enjoying the benefits of a simple life:

  • Easy online access and retrieval
  • No more paper statements to keep track of or file
  • Peace of mind knowing your statements won't get lost in the mail
  • Automatic storage of your statements for 24-months
  • Email notices when your statement is ready to view, print, or download
  • Safe and Secure
  • This is a safe and convenient way to receive your UCU MasterCard statement. Plus, you're helping us save the environment!

    Simplify your life, enroll today!

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    Stay in BALANCE during tough times

     

    Has the recession thrown your finances off balance? Get back on track with expert guidance from BALANCE, our free and completely confidential financial counseling service available to UCU members:

    Money management counseling
    Learn to track your spending and create a realistic budget.

    Debt management
    Assistance in developing a repayment plan to reduce debt.

    Foreclosure prevention counseling
    Options to save your home and/or minimize damage to your credit.

    Housing counseling
    Learn about home purchasing basics and home loan options.

    Identity theft prevention
    Tips for keeping personal financial information private.

    Credit report review
    Understand what’s on your report, identify and correct inaccuracies, and learn how to improve your credit standing.

    Go online to BALANCE to get more information to help get you on the right financial path.

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    Purchasing a New Home? Finance it with a Lender you trust!

    Your home is the biggest purchase you’ll make. And we have everything you need to choose the best home loan. Members can apply for a mortgage loan online, get current mortgage loan rates and review educational information on home buying.

    • Apply Online -- No paper application needed! Easy, interactive design makes applying painless. Plus, personal login function lets you finish the application at your pace.

    • Today's Rates -- See today's rates and track rates as they change. View fixed and adjustable rate options for purchases and refinances.

    • Get Educated -- New to the home buying process? Check out the First-Time Home Buyer section. Want to learn more about purchasing or refinancing a home? The process is explained.

    UCU mortgage loans can be used for home purchases, home refinances (includes cash outs) and for refinancing income/rental property (single- to multiple-unit rental properties).

    Loan approval subject to income and credit evaluation. First mortgage loans are processed by CUSO Mortgage under contract with the Credit Union.

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    Stuck with a Bank Checking Account You Didn't Choose?

    Has your bank merged, converting your checking account into something you don’t want? If so, look at what University Credit Union’s checking account offers. Just compare it to your bank’s account and you will see that ours comes with all the access services you need… and more!

    Make the switch today! Call or visit a branch to open your free checking with UCU!

    Comparative data gathered from bank’s website on 8/31/09 and may change.

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    PRIVACY POLICY | TERMS OF SERVICE | SITE MAP | CONTACT US

    Your savings federally insured to at least $250,000 through the National Credit Union Administration (a U.S. Government Agency) and backed by the full faith and credit of the United States Government.
    Your savings federally insured to at least $250,000 through the National Credit Union Administration (a U.S. Government Agency) and backed by the full faith and credit of the United States Government.
    An additional $250,000 of coverage provided by American Share Insurance (ASI), a private corporation
    An additional $250,000 of coverage provided by American Share Insurance (ASI), a private corporation.
    University Credit Union is an Equal Housing Lender.
    University Credit Union is an Equal Housing Lender.

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    What's New

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    For more information, please e-mail us or call (310) 477-6628.