Fall 2010
Mortgage Refinancing
Is it the Right Time?
The average 30-year fixed mortgage rate has recently fallen to an all-time historic low. Even if you took out a mortgage fairly recently, you might profit from refinancing. The decision to refinance depends on several factors:
How long will it take you to break even?
Some simple calculations can help you determine your break-even point. You'll need to know what your new mortgage payment would be, and also what fees would be involved.
- Write down your current mortgage payment (principal and interest).
- Write down the new mortgage payment, if you refinanced.
- Subtract number one from number two. This is your monthly savings.
- Now, divide the total fees you will need to pay by number three. This tells you how many months it'll take before your refinancing starts to pay off.
How long do you expect to stay in your home? Let's say your answer to number four is 36 months. If you only plan to stay in your home for two more years, it really would not make sense to refinance. On the other hand, if you expect to be there for five or 10 years, you could potentially save thousands of dollars.
The rate and fees of your new mortgage will greatly affect the profitability of a refinance. So contact the Credit Union today. We offer very competitive rates and low closing costs!
Visit myCCCU.com/mortgage or call 800.347.CCCU ext. 4502.
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15-Year Fixed Rate and 30-Year Fixed Rate Available!
Click for current rates. |
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Thinking of Purchasing a Home?
Great news—now is a good time to start your search! The prices of homes and interest rates are lower than they have been in years. Plus, it's a “buyers market” where you will have more choices of homes at lower prices than you can imagine! Let us help you take the next step in making your dream home a reality.
Apply online at myCCCU.com/mortgage or call 800.347.CCCU ext. 4502.
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Answers to Your Mortgage Questions |
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If you're in the market for a mortgage, you probably have a lot of questions. But, you can feel confident in turning to us for the answers. We have a full-service mortgage department and a professional, experienced staff. We're always happy to discuss your mortgage needs one-on-one, and we’ll do our best to explain your options and give you the information you need. Here are some questions that might be on your mind:
What type of documentation will I need? We'll need proof of your income, debts, and current savings. Contact our mortgage department, and we can provide a list of required information.
What should I do first—find a home or apply for a mortgage? It's always better to apply for a mortgage first. With a pre-approval in place, you'll know exactly what you can afford. You'll also be in a stronger position when you make an offer on a home.
Is this a good time to refinance an existing mortgage? Yes. Rates are still quite low, so this might be the perfect time to lock in a lower monthly payment or switch your adjustable-rate loan to a fixed rate.
For a personal rate quote or to learn more about our mortgage programs, just call 800.347.CCCU ext. 4502, or visit myCCCU.com/mortgage today!
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New! The IM Platinum Rewards Visa
The Card that Gives to Global Missions |
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Christian Community Credit Union is partnering with American Baptist International Ministries (IM) to offer you a unique credit card that gives to global missions while you save money and earn significant rewards.
For every IM Platinum Rewards Visa approved, we'll donate $25 to support IM. Plus, every time you use your IM credit card for a purchase, the Credit Union makes additional donations to IM at no cost to you. The IM Platinum Rewards Visa is a unique way to support IM and their missionaries.
If you have “The Card that Gives to Missions” and would like to switch to the IM card, please contact the Credit Union.
IM serves over 1,800 short- and long-term missionaries annually. IM brings together churches and individuals from the U.S. with partners in over 70 countries in holistic, cutting-edge ministries that tell the good news of Jesus Christ while meeting human needs. Visit internationalministries.org for more information about IM.
Apply for your IM Platinum Rewards Visa today at myCCCU.com/cards or call 800.347.CCCU!
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Money Matters from the Word
His master replied, Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness! Matthew 25:21 (NIV)
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New! Design Your Own Card
Customize Your Credit Card with a Favorite Photo |
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We're excited to offer you “Design Your Own Card*”, a new and fun way to personalize your Platinum Rewards credit card. And it's easy to do!
1. Login to myCCCU.com/dyoc.
2. Upload a favorite photo of your kids, pet or vacation picture.
3. Your new Platinum Rewards credit card will be delivered to you in about three weeks.
Each time you pull your customized card out of your wallet, you will be reminded of the special people, pets or moments in your life.
* A fee of $9.95 applies to "Design Your Own Card."
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Ruth Morales, Long-Time Board Member Passed Away |
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We are deeply saddened to share the news of the passing of our dear friend and beloved Christian Community Credit Union Board Member, Ruth Morales. Ruth went home to be with her Lord on August 25, 2010. She is survived by her two sons and a host of grandchildren and extended family. Earlier this year, at our 53rd Annual Meeting, Ruth was honored for her 17 years of service and dedication to the Credit Union. Please keep her family in your prayers in their time of loss.
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Now Accepting Nominations
The Nominating Committee is accepting nominations for two positions on the Board of Directors and one position on the Supervisory Committee for 2011. Members interested in running for one of the positions may submit their names for consideration.
Applications must be submitted to the Nominating Committee by November 16, 2010 and should be sent by certified mail along with a return-receipt request to: Nominating Committee Chair, Christian Community Credit Union, P.O. Box 9001. San Dimas, CA 91773. The Nominating Committee will select qualified nominees by November 18, 2010.
Nominations can also be submitted by petition and should include a request to be placed on the ballot and the petition signed by at least 100 members. A candidate must give written consent to the nomination. The nomination by petition must be submitted to Christian Community Credit Union by December 3, 2010. For a nomination application, please call 800.347.CCCU, ext. 6210.
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APY=Annual Percentage Yield | APR=Annual Percentage Rate
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