Inside - Class Act Federal Credit Union

News and Information for the Members of Class Act Federal Credit Union

JULY / AUGUST / SEPTEMBER 2018

TAKE A LOOK

INSIDE

< Learn & Earn

P2

with Sprint

Get the latest phones

and get up to $300 in

cash rewards.

< Money Market

Rate Change

P3

Effective August 1, 2018

this rate will be based on

a competitive market

analysis.

< Car Buying Tips

P4

Avoid some of the traps and pitfalls of buying

a car.

Cash Rebate Car Loan Promotion!

Drive home a great car and an even better bargain with an auto loan from Class Act. Now through September, Class Act members will earn a 1% cash rebate with any new or used car loan. Finance $15,000 and earn a $150 cash rebate. Finance $35,000 and earn a $350 cash rebate. Now is the perfect time to buy that dream car and drive away with a 1% rebate up to $500! Class Act's car loan rates are among the lowest you'll find anywhere - as low as 1.99% APR* Get a low rate, a 1% rebate, plus great personal service at your member-owned credit union.

? Rates as low as 1.99% APR* ? Offer good on new or used purchases, as well as refinances*. ? Flexible terms up to 84 months ? Defer first payment up to 60 days ? 1% cash rebate ? up to $500

Offer good on new or used cars, and also good on refinances from any other lender. Apply today!

*Annual Percentage Rate. 1.99% includes .25% discount for CAFCU checking with direct deposit and .25% discount for automatic payments. 1.99% rate is offered on new or used (2016 or newer) vehicles, for members with excellent credit history on terms to 48 months. Payment example: $20,000 loan amount with 4 year term would have bi-weekly payments of $200.29. Other rates and terms are available. Rates subject to change. Not available for refinance of existing CAFCU loans. 1% rebate will be paid within one month of closing and rounded up to the next dollar (max. $500). $5,000 minimum loan amount. Promotion period runs from July 1, 2018 through September 30, 2018.

PRESIDENT'S

MESSAGE

by Lynn Huether

Summer is here, but if you blink you just might miss it. It seems that summer break gets shorter with each passing year. "Back to School" sales are already in progress, but before you rush out to the stores, take a few minutes to stop at the nearest Class Act branch and fine tune your finances. If you've been putting off refinancing your mortgage, now would be the perfect time to do so to take advantage of the low interest rates. Or maybe you've been considering opening an Honors Checking account to take advantage of the 4.0% APY monthly dividends and ATM refunds. Chances are, you will save a lot more money in one visit to Class Act than at the department stores' back to school sales. Here are some more ways to save. Refinance your car loan at rates as low as 1.99% APR*. Open a Class Act Visa with 0% APR* intro period (as low as 11% APR* thereafter). Consolidate debt into one easy payment with lower interest.

Now is also a great time to do some financial house cleaning by updating contact information, or to open accounts for children or grandchildren. Class Act has age-appropriate youth accounts with special newsletters and online content to help them develop healthy savings habits. The summer is also when we welcome our newest group of students who've been selected to be part of The Class Act Academy. They will be training at our Fern Valley branch throughout the summer. Please give them a word of encouragement as they are being asked to learn a lot in just a few short weeks. Once school starts, they will begin serving Class Act members at our high school branches at Doss and Southern High Schools. We are glad to help support education through this unique partnership with JCPS where students gain hands-on experience in the credit union industry. This fall marks the 9th year for the Academy and it gets better every year.

Over the summer we will also be hosting a series of financial workshops (see schedule in this issue of ClassNotes). I urge you to sign up for one or more of these free and informative classes on subject ranging from retirement to budgeting. New this year, we've added a class on how to "Maximize Your Membership" with personalized tips on how to get the most out of your Class Act membership. We hope to see you there. Have a great summer!

Time to LEARN & EARN up to $300 with Sprint!

Class Act Federal Credit Union has some great news this back-to-school season. Get your kids the latest phones with Sprint? and get up to $300 in cash rewards. Here's how in three easy lessons:

Lesson 1: Give them the latest new phone with Sprint. Sprint's best unlimited plan now includes Hulu. Lesson 2: Get up to $300 in cash rewards as a benefit of credit union membership for new lines you activate with Sprint. Lesson 3: Current Sprint customers receive up to $150 in cash rewards every year for lines transferred into Sprint Credit Union Member Cash Rewards. Extra Credit: You'll receive up to $150 in loyalty cash rewards every year for lines activated or transferred.

Sign up today to start enjoying your rewards!

Here's how to sign up for Sprint cash rewards: 1. Become a Sprint customer and mention you're a credit union member. 2. Register at SprintRewards for your cash rewards. 3. Allow six to eight weeks to see cash rewards directly deposited into your credit union account.

Save on Auto and Home Insurance with TruStage

Another way we help our members save -- credit union member discounts from TruStage Auto & Home Insurance Program, underwritten by Liberty Mutual Insurance Company. Save big with additional discounts for multiple policies. Learn more at TruStage and get your FREE, no obligation quote or call the local Liberty Mutual office at 502.710.0556.

Proudly Serving Educational Employee Groups and the Students and Alumni of the University of Louisville

Financial Workshops

Your education-based credit union is committed to our members' financial success. That's why we're offering a series of financial workshops to help you "Flourish in your Finances." Sign up for one or more of these upcoming interactive workshops:

? July 24th 6 PM, Retirement Planning ? Kentucky Teacher Retirement System & Pensions ? August 11th, 10 AM, Budgeting ? September 13th, 6 PM, Insurance Basics ? October 9th, 6 PM, Maximize Your Membership For more info or to sign up go to financial-workshops/

Money Market Rate Change

Notice: effective August 1, 2018 Class Act FCU's money market account rates will no longer be tied to the 91 Day Treasury Bill Auction. Rather, rates will be set by the board of directors based on a competitive market analysis. Also, we will be adding 2 new tiers to the rate structure to allow us to offer even higher rates for larger account balances.

Payroll Deduction

Payroll deduction is a great way to squirrel away some money for a rainy day or for any special purpose. This "out of sight, out of mind" approach to savings really works. Not all employers offer this service to their employees but JCPS and many of our other member groups do, so why not take advantage of it? For your convenience, our branches have the forms used by JCPS and other school districts. In addition to being a painless way to save money, payroll deduction is also a great tool to prevent your Class Act account from becoming dormant (no transactions in 12 months), and also a good way to prevent overdrawing your Class Act checking account.

Vacation Loans

Summer's not quite over yet. There's still plenty of time to squeeze in a nice vacation, but unfortunately there may not be plenty of money to make that possible. Not to worry, Class Act has a number of solutions. Get a Class Act Platinum Visa card and enjoy 0% APR for the first six months (as low as 11% APR thereafter). Or get a personal loan or LifeStyle line of credit loan with rates as low as 10% APR. Take some time to enjoy the summer ? you deserve it! Details and application are on our homepage.

Heroes of Education

Do you know someone whom you consider to be a "Hero of Education?" It could be that special teacher, administrator, bus driver, nutrition worker or anyone in the field of education whose attitude and effort inspires students and teachers alike. If so, please nominate them to be honored in Class Act's monthly "Heroes of Education" feature on our homepage. To nominate someone, complete the form on our homepage, , or email us at members@.

News and Information for the Members of Class Act Federal Credit Union

Class Act's Mobile Banking App

You are always on the go, so why not bring your Class Act accounts along with you? Download our new mobile banking app from the Apple Store or Google Play. You'll love all the new features ? quick balance, touch ID, alerts, SnapDeposit, bill pay, transfer money and much more right from your mobile device. And once you've used the app, please give us some feedback by reviewing the app. We want to give Class Act members the very best mobile app possible.

Car Buying Tips!

Car loans are one of Class Act's specialties. In addition to offering the very best rates, we also pride ourselves in helping members avoid some of the traps and pitfalls of buying a car.

? Get Preapproved! Before shopping for a car, make time to get preapproved for your auto loan. Not only will you secure the best rate available, but you will also gain leverage at the dealership and peace of mind knowing that you are staying within your budget.

? Get preapproved from Class Act and two other lenders so you can pick the best rate. Apply for them all within 14 days so that all three hard credit pulls count as only one. Our rates are as low as 2.49% for 2016 and newer model years on terms to 48 months (as low as 1.99% after discounts for Class Act Checking and auto pay).

? If you finance at the dealership, be sure that they do not "mark up" your interest rate. It's sort of a dirty little secret, but some lenders not only allow dealerships to overcharge with higher interest rates, but actually reward them handsomely for doing so. For example, based on your credit score, you might qualify for a 2% rate, but if the dealer can charge you 3% or even 4% the bank gives the dealership a bonus! To be fair though, dealerships also may be able to match or beat the rate that you've been pre-qualified for. Just be careful and know your credit score!

? Avoid paying unnecessary dealer fees! Some dealer fees, like "destination charges" are legitimate, but beware of additional "delivery fees," "pre-delivery inspection" or "dealer prep charges." Ask for those charges to be removed.

? Also avoid unnecessary lender fees! Lookout for "credit report fees," "indirect lending fees," "application fees," and especially "prepayment penalties." Class Act doesn't charge any of these fees. Your only costs here are simple interest on the loan and the actual cost of the county clerk's fee to record the lien.

? If you are purchasing collateral products such as GAP, or an extended warranty, shop those separately too. Class Act's GAP costs $475 which is about half of what many dealerships charge. You may also be able to obtain GAP insurance from your auto insurance provider at affordable rates.

? Don't overpay the sales tax! In Kentucky, the dealer should deduct the trade-in allowance from the sale price of the new car before calculating the sales tax. For instance, if you are purchasing a $20,000 car and the dealer gives you $5,000 trade-in allowance for your old car then you should only pay sales tax on $15,000.

RATE

NEWS

Loan Rates as of July 1, 2018

Annual Percentage Rate*

New Car & Motorcycle

as low as 1.99%*

Used Car & Motorcycle

as low as 1.99%*

New Boats/RVs/Campers

as low as 4.00%*

Used Boats/Rvs/Campers

as low as 4.00%*

Personal/Signature

as low as 8.50%*

Overdraft Line of Credit

15.00%

Platinum Visa

as low as 11.00%

Share Secured

as low as 5.00%

Share Certificate Secured

as low as 5.00%

Home Equity LOC - Prime + 0% as low as 5.00%

LifeStyle Access Line of Credit as low as 10.00%

Fixed Rate 2nd Mortgage

as low as 4.50%*

10-30 Year Fixed Rate 1st Mortgages Call for Quote

*Rates reflect .25% discount for automatic payment, and .25% discount for CAFCU checking with direct deposit. Prime rate at time of publication is 4.75%. Rates based on borrower's qualifications and are subject to change. Other rates and terms available. NMLS# 403005

Main Office

3620 Fern Valley Road ? Louisville, KY 40219-1917

(502) 964-7575 ? 1-800-292-2960 ? Fax: (502) 966-2061

Office Hours

Monday - Friday

9:00am ? 5:00pm

Saturday

9:00am ? 1:00pm

Cardinal Towne Branch 331 W. Cardinal Boulevard ? Louisville, KY 40208

Office Hours Monday - Friday Saturday

9:00am ? 5:00pm 9:00am ? 1:00pm

East Branch 3711 Diann Marie Road ? Louisville, KY 40241

Office Hours Monday ? Friday Saturday

9:00am ? 5:00pm 9:00am ? 1:00pm

Shared Branches

2925 Goose Creek Road ? (502) 429-0068

4917-B Dixie Highway ? (502) 448-1686

Office Hours

Monday ? Friday

9:00am ? 7:00pm

Saturday

9:00am ? 2:00pm

"Express Line" (502) 964-7575 ? 1-800-292-2960

HOLIDAY

CLOSINGS

Independence Day Labor Day Columbus Day

July 4 September 3 October 8

CONNECT WITH US

members@

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