MARCH
•
2022
ROLL CALL DON’T MISS OUR VEHICLE AND PERSONAL LOANS REFINANCE OFFER you refinance ANY vehicle or GET When personal loan from another lender!
$200 According to Experian, the average monthly new car payment is $609 and the average used car payment is $465.* That’s a major expense! Fortunately, LAPFCU has great refinance options that can lower your payments. And, for a limited time, we’re offering a special incentive to help you save even more. Get $2001 when you refinance a personal loan or any vehicle loan (including auto, motorcycle, boat, watercraft, motor home, or travel trailer loan) from another lender. Plus, enjoy no payments for 90 days on refinanced auto loans2!
Plus, no payments for 90 days on auto loans.
REFINANCE NOW! Check the LAPFCU app or online banking to see if you’re already pre-approved or apply at lapfcu.org/refinance-save. Call us at (877) 695-2732 to speak with a Loan Officer who will happily review your loans and lines of credit and help determine the best savings plan for you.
At LAPFCU, auto loan rates start at just 1.99% fixed APR3. Personal loan rates are as low as 7.49% fixed APR4. Refinancing with a lower interest rate can help reduce your monthly payment to better fit your budget.
Includes End of Watch Debt Protection5 for LEOs, which covers up to $850,000 of all LAPFCU loans! Qualifications at lapfcu.org/EOW
*Experian.com State of Automotive Finance Market 2021 Q3. 1Offer valid January 18, 2022 – April 30, 2022. Existing LAPFCU loans do not qualify. Must refinance a closed-end personal loan or vehicle loan (auto, motorcycle, boat and watercraft, motor home and travel trailer loans) from another lender that is at least $10,000. Offer applies to each eligible loan. The $200 will be credited to the primary applicant’s S1 Share Savings Account within 60 days after loan origination. Offer subject to change or cancellation at any time and other restrictions may apply. May not be combined with any other offers. Members who receive the $200 offer cannot refinance the new loan with LAPFCU again for a lower APR. Please ask for complete details. 2Only applies to auto loans. Number of total payments on your auto loan remains the same, and interest continues to accrue during deferred payment months. Deferring an auto loan payment may void your GAP insurance. Consult your insurer for details. 3APR = Annual Percentage Rate. To qualify got 1.99% fixed APR for 60 months requires a FICO score of 800 or greater and member must qualify for Member Benefits. Actual APR offered may be higher depending upon applicant’s credit rating and other underwriting factors (Member must participate in automatic payment program and qualify for Member Benefits program at time of funding). Go to lapfcu.org/member-benefits/ for complete details. 60-month term payment example: A 5-year loan at 1.990% fixed APR will have 60 monthly payments of $17.52 per each $1,000 borrowed. All rates, terms, and promotional offers are subject to change without notice. Cannot be combined with any other offer. Restrictions may apply, ask for complete details. 4APR = Annual Percentage Rate. Minimum loan amount of $500 and the maximum loan amount of $100,000. To qualify for 7.490% fixed APR for 48 months requires a FICO score of 800 or greater and member must qualify for Member Benefits. Actual APR offered may be higher depending upon applicant’s credit rating and other underwriting factors (Member must participate in automatic payment program and qualify for Member Benefits program at time of funding). Go to lapfcu.org/member-benefits for complete details. 48-month term payment example: A 4-year loan at 7.490% fixed APR will have 48 monthly payments of $24.17 per each $1,000 borrowed. All rates, terms, and promotional offers are subject to change without notice. Cannot be combined with any other offer. Restrictions may apply, ask for complete details. 5End of Watch Debt Protection is provided to eligible borrowers at no additional cost to the borrower and cancels the outstanding LAPFCU loan balance of the sworn or civilian member. To be eligible for the End of Watch Debt Protection, the Borrower must: (1) be an LAPFCU member, (2) meet the lending requirements established by LAPFCU to qualify for this debt protection and (3) be a full-time, active-duty sworn peace officer or civilian employed in qualifying areas we serve. Minimum loan balance amount of $10,000 or a new activated $10,000 line of credit required to qualify (must be used within 30 days of account opening). Maximum coverage for a single loan is $400,000. The maximum combined loan amount is $850,000 for all of the borrower’s loans. The End of Watch Debt Protection may not be purchased outright. This debt cancellation benefit applies to all loans from LAPFCU and only in the case of death while on duty, some exceptions do apply. All loans are subject to credit approval and to applicable LAPFCU policies. Other restrictions may apply. Visit lapfcu.org/eow or call (877) 695-2732 for complete details.
FREE UPCOMING WEBINAR KEYS TO HOMEOWNERSHIP WEDNESDAY, MARCH 16 | 6:00-7:00 P.M. PDT1
Register at lapfcu.org/webinar or contact Natalie at (818) 779-3303 or nnahas@lapfcu.org for assistance. 1 Webinar times and dates subject to change or cancellation at any time.
(877) 695-2732 • lapfcu.org
SECURITY TIP
With fraud on the rise, remember that LAPFCU will never call, email, or text you to ask for your personal or account information. For more safety tips, visit lapfcu.org/security. If you have a fraud-related question or need to report fraud on your account, call us immediately at (877) 695-2732. Stay vigilant!
REMINDER
EXCLUSIVE CARVANA MEMBER OFFER
TAX SEASON IS HERE g
April 15 is the deadline to make Roth and traditional IRA 2021 contributions. An Individual Retirement Account (IRA) is a smart way to put pre-tax dollars to work towards building a comfortable retirement.
We’re excited to announce that Carvana has joined the Love My Credit Union Rewards family with an exclusive $100 cash reward for LAPFCU members!*
Here are the 2021 contribution limits: • $6,000 for 49 and younger
Carvana is the leading e-commerce platform for buying used cars and the fastest growing used auto retailer in the country. With Carvana, you can:
• $7,000 for 50 and older • If you’re filing jointly, each spouse may contribute according to the limits above. Total contribution cannot exceed your reported income after taxes.
• Browse certified inventory: Low mileage, no reported accidents, 150-point inspection.
To make your 2021 or 2022 contribution, log in to online banking at lapfcu.org. Then, select Services >> Forms >> Traditional IRA Contribution and Investment Selection Form or Roth IRA Contribution. Consult your tax advisor or visit irs.gov for more details.
• Shop from home: Buy online with delivery or pickup available as soon as the next day. • Get more for less: Save valuable time and money by shopping online. • Buy with confidence: 7-day money back guarantee, 100-day warranty.
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• Finance with ease: Easily finance a Carvana purchase with a loan from LAPFCU.
1098 and 1099 tax forms are available in online banking. Select Services >> e-Statements and e-Disclosures.
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IRS Scams Security Tip: If you receive a phone call, email, or social media message claiming to be from the IRS, it’s most likely a tax scam. The IRS will only contact you by mail if you owe taxes. To report suspected tax fraud or an IRSrelated scam attempt, contact, the IRS immediately at (800) 829-0433 or email phishing@irs.gov.
Visit lapfcu.org/auto-buying-services and click on Carvana. Or, scan the QR code to start shopping over 20,000 vehicles with Carvana all from the comfort of home! *Valid only for Carvana purchases through LoveMyCreditUnion.org. See Terms and Conditions.
FIND YOUR DREAM HOME | With dream home, plus:
, LAPFCU members have FREE access to a Multiple Listing Service (MLS) that will help you find your
Earn cash rewards1
Choose from a group of trusted real estate agents who specialize in serving the law enforcement family
Access powerful research tools that help you research neighborhoods and find the right home
For more information, or to sign up for HomeAdvantage, call (877) 695-2732 or visit lapfcu.org/home-advantage. 1
See lapfcu.org/home-advantage for complete details.
(877) 695-2732 • lapfcu.org 0122-46