President's Message April 2016

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We are well into our 60 year celebration and many people are taking advantage of our Cash for You, Cash For Your School initiative. Don’t forget that for every loan you transfer to UCCU we will give you 0.5% cash back, as well as donate 0.5% cash back to the K-12 school of your choice. Tell your friends and neighbors and help support local education.

The Utah housing market is booming. There is significant demand for mortgage and construction services and consumers are continuing to build equity due to rising housing prices. With the growing population rate and the increasing demand for housing, appreciation rates have continued to rise and will likely continue to be favorable.

Trying to help your children get into their first home? It may be easier than you think. UCCU has our first time home buying program that takes the guesswork out of finding the home of your dreams.  UCCU offers support and resources to help you find the right loan product to suit your financial needs. Our BuyerRelax program offers access to mortgage experts who can answer any question – big or small.

It is our pleasure to serve you! We want to be your trusted financial partner now and into the future. Take full advantage of your membership by visiting with one of our financial experts. If you are not yet a member – become one and let the benefits of UCCU membership help you save money, make smart financial decisions, and propel you and your family closer to you financial goals and dreams.

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Jeff Sermon
President/CEO

 

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Home Maintenance Tips

Home Maintenance blog post2

Spring is the time for home improvements and repairs. According to some experts, home repairs usually cost approximately $1,700 each year*.  That is a large amount of money, and without a plan, that amount could be devastating in the future.  Here are some reasons why you should make home improvements.

Home Maintenance = Home Equity

Buying a home is a great investment.  You buy a home, and most likely you eventually sell that home.  Putting a certain sum of money into your home each year improves the value, but also makes it more livable as time goes on.

“Be Prepared”

Disasters will happen whether it’s a leaking roof, water drainage, plumbing problems or termite damage etc.  How can you be prepared?  The rule of thumb for home improvement is putting away 1% of your home’s value each year.  For example, if your home is worth $175,000, you would put away $1,750 each year or $145 a month for home maintenance**. By doing so, you can plan accordingly for those incidentals that so often come with owning a home.

Home Upgrades

There are many ways you can improve and increase the value of your home. Home additions can make a space more functional while adding value. Another great spot in the house that offers the best return on investment is the Kitchen. Upgrading appliances, installing fresh tile, and upgrading your counter tops are some great ways to improve the value.

Funding Home Maintenance

Obviously home improvements are essential and cost money.  Planning a budget for home maintenance is not as difficult as it sounds.  In fact, there are many ways to create a budget like obtaining a home equity loan, taking out from a personal budget, or making a home maintenance savings plan every month.  Your home is a great investment, so take care of that investment, and make financial plans to make it better!

If you have any questions, or want to look into a Home Equity Loan, click HERE to visit our website for details.

Sources
*http://balancepro.net/education/publications/fixhomerepairmaintenanceplan.html
**http://go.hfcu.org/blog/bid/138553/Should-I-use-home-equity-for-maintenance-and-upkeep-of-my-house

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President's Message March 2016

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The credit union continues to celebrate 60 years of serving this great community! This year-long celebration will give members and the credit union many opportunities to strengthen the community and take advantage of special offers and services provided by the credit union. We welcome your participation and urge you to take advantage of the special offers, rates, and service opportunities that are part of our celebration.

  • Support the School of your Choice

Throughout the year, you can earn money and also support a local school of your choice – just by transferring an existing loan to UCCU!

When you transfer a loan from somewhere else to the credit union, you will not only benefit from lower loan rates and lower monthly payments – but UCCU will pay you ½% of the loan balance in cash up to $125. But that’s not all. The credit union will also send the school of your choice the same amount (1/2/% of the loan balance up to $125) in your name!  So, by moving a loan to UCCU, you’ll most likely end up with better loan rates and terms, some cash in your pocket, and the credit union will donate the same amount to a school of your choice in your name!

  • March Loan Sale Going on Now

You’ll find low special rates on auto loans and on home equity loans as part of our 60th Anniversary celebration. Whether its time to replace your car or whether you’re planning some needed home improvements or other summer projects, UCCU’s low loan rates will help you succeed.  There will be additional special offers throughout the year.

  • Your “First Choice” Financial Partner

As always, we thank you for your trust and your membership. Our sole focus, as a not-for-profit financial institution, is to provide you and your family with the services and information that will help you set- and reach- your financial goals. One valuable resource to help you make smart financial decisions is UCCURelax.com. This educational site is a great guide to help save you money and frustration in purchasing a home or car. Check it out and see how it can give you confidence in making some of life’s biggest purchases.

We love serving you and look forward to another 60 years of serving this community!

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Jeff Sermon
President/CEO
Utah Community Credit Union

 

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Get Ready for Spring With a Home Equity Loan

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Spring is just around the corner, which means warmer weather, a different wardrobe, and home improvement.  Are you planning on a spring filled with a list of projects for your home?  A home equity loan is a perfect place to start! UCCU’s home equity loan experts are here to assist you with all of your needs.  There are no fees to worry about, and home equity lines of credit always have fixed-rates.  UCCU’s home equity professionals are trained and ready to assist and answer any questions you have about your home equity loans.

Home Equity Line of Credit

A line of credit is often used to cover expenses that you may incur over a period of time; used similar to a credit card. UCCU has fixed rate home equity lines of credit for 5, 7, & 10 year terms and even a Flex Pay option where you can pay the interest only for 7 years.  Variable APR can be as low as 3.74%-4.24%.

Home Equity Loans and Mini Mortgages 

Home Equity Loans and our Mini Mortgages are often used for one-time expenses. You receive the funds in a lump sum (as opposed to a line of credit that is revolving). Also a great solution if you’re looking to pay off your home in the near future. UCCU has low fixed rates and excellent terms.  Mini Mortgages can range between 5-10 years for the 1st mortgage.  Home Equity Loan or a 2nd mortgage will be up to 10 years.  These fixed APR options are also as low as 3.24%-4.25%.

So even if you are you looking to repair or remodel your home, to pay for your child’s education, or need assistance to pay off high interest credit card debit, our home equity loans are a perfect way to help your upcoming financial projects.

So put your home to work and receive financial assistance from a home equity loan.  Applying for your home equity is simple and can be done in as little as 20 minutes. Complete the form online and we will create customized quotes based on your loan details.

For any questions or if you are ready to apply please call one of our home equity professionals today at 801-223-7650 or email us at homeequity@uccu.com.  You can also visit one of our local branches and speak to a professional in person!

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President's Message January 2015

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As 2015 gets underway we note the relatively strong local economy. Unemployment is low, job creation is positive, population growth is strong, and consumer confidence continues to rise. Of course, our local economy is still impacted by the national and … Continue reading

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Lower Your Home Equity Payment Today

Consolidate your debt into one loan with one low payment.

With UCCU’s new Low Payment Calculation, you can consolidate your debt into one loan and one really low payment! No-fee home equity lines of credit–with Low Payment Calculation–available right now at UCCU. Only 1.99% Fixed APR for nine months, then 3.74% Variable APR thereafter.

For more information visit uccu.com or call us at 801.223.7650

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Finding the Right Home – Utah Home Buzz

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Utah Home Buzz in partnership with UCCU is your one-stop-shop for buying and selling properties all across the state. Their skilled Real Estate experts specialize in helping buyers and sellers in your area. The website contains ALL listings from ALL Real Estate … Continue reading

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Market Rates on the Rise

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Housing rates continue to rise due to a number of economic changes. The market is beginning to recover from the housing crash of 2007 and homeowners are starting to see a silver lining. According to Quicken Loans VP Bill Banfield, the increases in housing … Continue reading

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Rates Spur Refinances as Buying Season Begins

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In early June, rates for 30-year fixed home loans were at their lowest in seven months, according to Freddie Mac. Rates had been on the decline for five weeks straight before hitting this year’s lowest yet. The window of opportunity … Continue reading

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President’s Message July 2014

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Americans are using smartphones, tablets, and mobile browsers to access the Internet more than using a computer. To help you manage your money easily and efficiently, we recently launched a redesign of the UCCU Mobile app. The new mobile app … Continue reading

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