Nexus Newsletter

We invite you to view the current issue of "Nexus", our member newsletter.

July 2010 (pdf format)

• It’s Almost Here! Enhanced Online Banking System
• Immediate Action Required Regarding ATM Overdrafts (Courtesy Pay)
• Moving? We’re Moving With You!
• Looking for an Easy Way to Simplify Your Life?
• Money Market Accounts Coming Soon!

Fly Away with 10K Escape to a new destination this summer just by using Lafayette Federal Credit Union’s Bill Payer. Enter our Summer Sweepstakes by paying at least three bills using Online Bill Pay in June AND July and you’ll receive an entry into our sweepstakes for EVERY bill paid! And your chances of winning increase with each bill you pay. With online bill pay you can: Pay anyone, anytime, anywhere Maintain one central page for all your bill paying needs Use an online calendar tool that will help you schedule your payments, which can often be processed on the same day or next day Set a bill reminder to email you when a payment is made or to let you know that an upcoming bill needs to be scheduled Keep funds in your account until the due date of your payment, in most cases Begin setting up payees and start making payments immediately after enrolling Easily review past payments and sort them by payee Cancel a payment up to the date it is scheduled to go out Not enrolled in Online Bill Pay? Sign up today by clicking here!

Message from the CEO About Your Insured Funds

Take Another Look at Lafayette’s Equity Builder Mortgage Loan

New Servicing System for Mortgage Loans - Effective June 1, 2009

On June 1, LFCU converted LFCU's mortgage loans to a new servicing system which does not identify loans with suffix numbers; therefore, you will see a new loan number on your statements and when you view your account online via the PCU.  Please click here to see how your mortgage account now looks in PCU.

The new servicing system provides enhancements which will allow you to view more in-depth mortgage information online such as:

• Annual Escrow Account Analysis
• IRS FORM 1098 (Mortgage Interest)
• Year-to-Date Totals

Letters dated May 20th were mailed to our members with mortgage loans explaining this conversion and its effects in more detail.

All loan payments due during the time of conversion will be posted after the conversion is complete and the payment will be effective dated for the date it was received, including any loans set up on automatic payment transfers.

Take Another Look at Lafayette’s Equity Builder Mortgage Loan

These days, when you’re talking about first trust mortgage loans, the term “ARM Loan” is nearly considered a dirty word — and in many instances that’s understandable. However, LFCU’s Equity Builder ARM has always been and remains a terrific value for our membership. The difference really is in the details…see for yourself:

• Every Equity Builder mortgage loan rate uses LFCU’s internal cost of funds as its index (rather than LIBOR or U. S.Treasury rates as an index).This means that, historically, our cost of funds index has been at a lower rate and more stable than traditional ARM loan indexes.
• LFCU customizes each member’s rate to their personal financial situation to give the member greater flexibility in determining their rate — and to ensure that we can give each member a low, fair rate.
• Our Equity Builder loan offers bi-weekly payments, which helps members build equity faster and reduce the interest paid over the life of the loan.
• Financing up to $2 million is available.
• There are no origination fees.
• Full-term interest-only options are available.
• No closing cost options are available.
• Modifications are available.
• 1-, 3- and 5-year adjustment periods are available.
• Interest rate adjustments are capped at each adjustment period.