FoxFacts Newsletter July 2023 Welcome to Free Money Day
Auto Expert Tip: Never Let a Dealership Run Your Credit
Student Loan Programs
For those who have read my stories, you know they usually involve my experiences with our Fox members. Here’s my latest. Checking
There’s no minimum balance requirements and no fees – we simply pay you Free Money on the last day of every month. What will you do with your Free Money?
We’ll pay you 5.00% Annual Percentage Yield* on your balance up to $5,000 each month! We’ll pay you back for any to ATM fees Up $15** each month!
foxcu.org/foxrewards
*APY=Annual Percentage Yield, accurate as of 6/12/2023. To earn disclosed 5.00% APY, you must meet monthly qualifications and have a balance up to $5,000; the balance portion above $5,000 earns 0.50% APY. The dividend rate and APYs may change at any time. Dividends are calculated and accrued daily based on Fox Rewards Checking balance tier and if Monthly Qualification requirements are met. Monthly Qualification Cycle requirements are: (1) $500 or more direct deposit, automatic payment, or a combination, (2) enroll in Online Banking and elect to receive eStatements with a valid email address, (3) 15 Fox Communities Credit Union (Fox) debit card, Fox credit card or a combination of qualifying purchase transactions that post and settle during Monthly Qualification Cycle. Restrictions apply. If Monthly Qualification Cycle requirements are not met earnings reduce to 0.01% APY on account balance, and domestic debit card ATM fee refunds will not apply. For additional information, contact Fox. Limit of one Fox Rewards Checking per tax-reported owner. Membership required. **Fox will refund up to $15 in domestic debit card ATM fees if Monthly Qualification requirements are met during the Monthly Qualification Cycle.
Federally Insured by NCUA.
Discover our Highest Money Market Rate Money Market
We’ll pay you 3.50% Annual Percentage Yield* on your balance of $15,000+ each month!
Add a Fox Rewards Money Market* to your Fox Rewards Checking - exclusive to Fox Rewards Checking account holders only. foxcu.org/foxrewards *APY=Annual Percentage Yield is accurate as of 6/12/2023. This is a tiered rate account, balances under $14,999.99 earn 0.10% APY; balances over $15,000 earn 3.50% APY. To obtain the higher APY on the Fox Rewards Money Market account you must maintain an average daily balance of $15,000 or more; (a) consent and receive your periodic statement electronically with a valid email address on file with Fox; (b) have a Fox Rewards Checking account with same ownership type as this account; and (c) meet all monthly earning requirements of the Fox Rewards Checking account. For more details on the Fox Rewards Checking visit foxcu.org/rewardschecking. There is no minimum balance to open the account or required to avoid a fee for either account.
Federally Insured by NCUA.
I recently had a member call about refinancing their current auto loan. They informed me that they tried to do it in January, but their credit score wasn’t high enough to justify a refinance at that time, as his rate wasn’t going to improve. Now, I’m not going to sugar coat this — I wasn’t very optimistic that we would be able to help him quickly. It takes time to improve a credit score enough to drop rates significantly. But I ended up being pleasantly surprised as this member brought their credit score up over 100 points in a short amount of time, proving that good coaching, hard work, and determination can work wonders. We were able to bring their rate down from 12.9% to 6.99%, saving the member quite a bit of money. But that’s still not the most important aspect of this story for all of you to take away. During our conversations, I learned that while shopping around for vehicles, the member was letting dealers pull their credit to determine what they’d qualify for. This is a terrible idea! All the extra pulls only hurt your credit score.
Is your teen starting their senior year of high school this fall? Are they planning on future education and need help funding their school expenses? We can help with low interest fixed and variable private student loans!* For those who have already started or finished their higher education journey, we also offer refinancing for private or federal loans. We’ll help you find the best term for your budget. foxcu.org/student-loans *Fox Communities Credit Union (Fox) private student loan program is offered through a partnership with CURevl and is not a federal student loan program. You may qualify for Federal student financial assistance, please visit studentaid.gov for additional information. Fox’s private student loans are subject to credit qualifications, loan amount, student’s enrollment in a participating school, and underwriting criteria. See a Fox Loan Officer for details or visit your local branch. Deposit products offered by Fox are
Federally Insured by NCUA.
New Fox Website Coming Soon
So, if you’re going vehicle shopping, call Fox first and let one of our experts take a look at your credit and advise you on budgeting. Don’t let the dealers control this, as they are just interested in selling you a vehicle, not in your long-term finances.
I can’t wait to help! Contact me today. Mike Pastorelli Auto Buying Expert 920-993-3508 mpastorelli@foxcu.org
We’re excited to announce that we’re getting a new website to make it more intuitive, more helpful, more resourceful, and – put simply – all-around better.