Nexus Newsletter
We invite you to view the current issue of "Nexus", our member newsletter.
January 2010 (pdf format)
- GOOD NEWS:
Our Platinum MasterCard rates
are now as low as 7.9% APR!
- A Golf Fan's Dream Come True
- Nest Egg Options
- Have You Checked Out Relationship Checking?
- Happy 75th Anniversary to Us!
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.
We ask for your patience while we work to improve our services to you.
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.
Still not convinced? Take a look
at our website to get complete
details, calculate your rate, estimate your closing costs, compare other loan products and apply, obtain
disclosures and receive automatic decisioning. If you still have questions, please email us at
mortgage@lfcu.org or contact your LFCU branch office.
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