Consider the advantages:
- More buying power
- Low monthly payment for the initial fixed term
- No prepayment penalty and no points
- Good choice if you plan to move or refi nance before the initial fixed term expires
- Options for adjustable rate mortgages include initial fixed rate terms of three years (3/1 ARM), fi ve years (5/1 ARM), seven years (7/1 ARM) and then may adjust annually
- Different lenders have other terms available
Before you choose an ARM you should carefully consider whether you are comfortable with the potential of a higher ARM payment after your initial fi xed term expires.
We understand that buying a home is a big decision, and we are here to help. A home loan specialist can help you review different types of loans so you can choose the right home loan for your situation. Visit any of our branches or apply online at www.mortgage.premier.org and receive a loan decision in minutes!
*Rate and terms effective September 25, 2013 and are subject to change or end without notice. Loans are available for primary residences
- only and are subject to Credit Union loan policies. Fixed rate for 3 years, then converts to the 1-year Constant Maturity Treasury plus a margin,
- rounded to the nearest eighth. Rate is subject to adjust by a maximum of 2.50% at fi rst change and a maximum of 2.00% annually thereafter.
- Lifetime cap is 6.00% over start rate, rounded up to the nearest eighth. Based on a 30-year $400,000 loan with 30% down and no cash out, the
- monthly payment for the fi rst 36 months is $3.89 per $1,000 borrowed for an APR of 2.439% and for the remaining term, based on today’s index
- value, is $4.19 per $1,000 borrowed of an APR of 2.439%.
Life Insurance is Hard
- It's hard to know if you have the right kind
- It's hard to know if you have enough
- And it's hard to know if you need any at all
The insurance companies have made it even harder by coming up with bewildering names: whole life, term life, universal life.Some life insurance policies have a cash value while others don’t. Some invest that cash value in the stock market while others pay a fi xed rate of interest. Some insurance policies combine all of these ideas.
Additionally, many policies purchased years ago have not met their original projections. A large portion of Americans may simply be paying for insurance that’s not right for them.
That is why it’s important for you to sit down annually with an insurance professional to review how your policy works and how it will help you to protect your family.
Insurance is NOT A PRODUCT OF THE CREDIT UNION and NOT INSURED BY NCUA OR ANY OTHER GOVERNMENT AGENCY. Payment of benefi ts is subject to the claims paying ability if the underlying insurance carrier.
Member Notice of Director/Committee Vacancies
The 2014 Annual Meeting of Premier America will be held on Thursday, March 27, 2014. At this meeting three (3) Director positions for a three-year term and two (2) Supervisory Committee positions for a three-year term will be elected by the members.
Members wishing to be considered for nomination for these positions by the Nominating Committee must notify them of their interest and provide a statement of qualifi cations no later than close of business November 26, 2013.
The Nominating Committee will publish a slate of recommended candidates on January 1, 2014. Members receiving nominations by the Nominating Committee may petition to add their name directly to the ballot. A petition to add a member’s name directly to the ballot must be signed by the greater of 100 members or 1/20th of 1% of the membership entitled to vote. The petition period will begin on January 1, 2014, and petitions must be received no later than the close of business on February 5, 2014.
For more information, please contact Toni Daniels at 818-772-4116.
Web/Mobile/Home Banking www.premier.org
24-Hour Telephone Banking Service
800-772-4000 press 1
Loans Fax 818-772-4133
Call Member Services at 800-772-4000
(Monday - Friday 8:00 a.m. - 5:00 p.m.
Saturday 8:00 a.m. - 1:30 p.m.)
Comments or Concerns?
Please write to:
Leslie MacAskill, Chairperson,
Premier America Credit Union
P.O. Box 2178,
Chatsworth, CA 91313-2178
The information in this newsletter is as current as possible; however, the Credit Union reserves the right to add, change or delete products, product features and/or services without notice. The articles and opinions in this publication are for general information only and not intended to provide specific advice or recommendations for any individual. We suggest you consult your attorney, accountant or financial or tax advisor with regard to your individual situation. All rates, yields and terms are subject to change without notice.