March 2016 Statement Insert: VISA Balance Transfer, Turbo Tax, Loan-Refi Special, & Call for Scholarship Applications

Statement 3-16 1-page

Move your high rate debt to a Wauna CU VISA Credit Card & Save Big!

  • Balance Transfer Special!
  • 1.99% APR for 12 Months!

*Special Financing Terms:  APR: Annual Percentage Rate. Members who move debt balances from elsewhere to a Wauna CU VISA credit card account may qualify for a special 1.99% APR for 12 months. After the 12-month period expires, the regular terms in the VISA credit card Membership & Account Agreement will apply. This special balance transfer service includes a one-time Balance Transfer Fee equal to 3% of the amount of the balance to be transferred or the minimum $20 balance transfer fee, whichever is the highest amount. This special balance transfer promotion ends at close of business April 30, 2016. Rates & financing are offered based on applicant’s credit worthiness and term of the loan. Membership with Wauna CU required to qualify for this special offer. **VISA Rewards accounts earn Rewards points for balance transfers (1 Reward Point per $1 of qualifying balance transfer during the special promotion).

TurboTax: Wauna CU Members get a discount on TurboTax!

This year, file your taxes the smarter way & get your biggest possible refund, guaranteed. TurboTax searches over 350 deductions & credits, so you won’t miss a thing.

Visit waunafcu.org to save on TurboTax today!

Break Free! From High Rates & Unfun Loans!

  • Cash Rebate!
  • 60 Days No Payments!

Refinance nearly any loan: Auto – RV/Toy – Installment Loans
Offer ends April 30, 2016

Apply Today!

Applications for our Annual Scholarships are being accepted until April 15, 2016.
Download the application from our website or at any branch of WaunaCU.

When to Consider Refinancing a Loan?

refi home laon blogThis article is courtesy of our friends at NerdWallet.

If you’re making payments on a mortgage or personal loan, you might be wondering whether it’s worthwhile to refinance. Refinancing, or replacing your loan with a new one with different terms, is a big move that requires some homework. Here are some important things to consider.

Define your goal

People refinance for many reasons. You might be interested in lowering the monthly payments to gain breathing room in your budget. Or your goal could be to pay less in total over the life of the loan. Some consumers refinance to replace a variable-rate loan with a fixed-rate one. Some nonprofit credit unions, like Wauna Credit Union, offer loans and mortgages to their members at attractive interest rates.

Homeowners may do a cash-out refinancing, getting a larger loan and taking some money out, in order to consolidate other loans or pay for home improvements. Others might refinance a Federal Housing Administration (FHA) loan to a conventional loan to save money on mortgage insurance. And some refinance for personal reasons, like adding a spouse to a mortgage or settling a divorce.

Check your credit

Your credit score is an indicator of how likely you are to pay back a loan, and lenders use it to determine how much they’ll charge you to borrow. Younger borrowers often don’t have long credit histories, and they end up paying higher rates as a result; a recent NerdWallet study found that millennials have the lowest average credit score of all age groups. But if you’ve had a loan for a year or more and have been making timely payments, it could be that your credit score has gone up enough to let you qualify for a lower-rate loan.

You can get a free copy of your credit report at AnnualCreditReport.com. That will allow you to correct inaccuracies that can hurt your credit score. Then, purchase your credit score from the credit reporting agencies for a small fee to see where you stand. Some credit card companies show a credit score on your monthly statement.

Add up any fees

When deciding whether to refi, factor in any fees and closing costs. The cost to refinance a personal loan may be minimal, but if you’ve obtained a mortgage in the past, you know that home loans can be expensive. Application fees, appraisal fees, legal fees and other closing costs could add up to 3 percent of the loan amount or more. And if your loan agreement has prepayment penalties, that could make a refi less attractive.

Refinancing can be smart option, whether your goal is to lower your monthly payments, save on the overall cost of borrowing or lock in a fixed interest rate. As always, it’s important to do your research to make sure that you’re getting a good deal.

Jeanne Lee, NerdWallet

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