Insight
A Few Words From Our CEO
In the ultra-competitive
world of banking
relationships and service
to the consumer, it is
often hard to differentiate
between the various alternatives available.
Convenience, pricing, and a full line of deposit
and loan products, delivered in a friendly,
secure, and reliable fashion are all important
when selecting a "primary" financial institution.
At GSFCU, we encourage our members to "shop
and compare" us to any and all alternatives.
Whether you define convenience as the latest in
technology, branch locations (including our 29
Credit Union "Shared Branch" locations in San
Diego), or our unparalleled "CU2U Service," we
continue to raise the bar for the benefit of our
membership. And it doesn't stop there.
As the only financial institution in San Diego
exclusively committed to serving educational
districts and their employees, we have earned
a reputation as a "Community Partner In
Education." This not only keeps us intimately
aware of the issues that affect our members,
but it is our trademark. In fact, GSFCU is
the Grossmont Union High School District's
2007/2008 "Community Partner" for the
"Honoring Our Own" event sponsored by the
San Diego County School Board's Association.
We take our role in the local educational
community very seriously, and we are proud to
have served our districts for the past 52 years.
I hope to "CU" soon.

Steven A. Devan
President & Chief Executive Officer
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Make The Most Of Your Retirement With A Reverse Mortgage!
Looking to make the
most of the equity
you've built up in your
home? Today, there are
more homeownership
options for retired
individuals and couples
than ever before.
Whether you're looking
to pay off bills, or would
just like additional
income to enjoy your
retirement, a Reverse
Mortgage* may be the
answer for you!
A Reverse Mortgage
allows you to borrow
against the equity
you've established
without repaying the loan for as long as you live there. Instead of
making monthly payments, you can choose to receive them! That's the
"reverse" part. Use it to:
- Pay off existing debts (including your current mortgage)
- Make home repairs and improvements
- Pay for healthcare, insurance premiums or in-home care expenses
- Supplement your retirement income - from daily living to travel,
or simply enhancing your retirement years!
Grossmont Schools FCU has teamed up with Rancho Financial to bring
you this in-demand product. Our specially trained and highly qualified
mortgage consultant, Denine Fadell, will take you through the process
from start to finish.
For more information, give us a call, stop by the branch, or you may
contact Denine Fadell directly at
888-538-4923.
*Known as Home Equity Conversion Mortgages (HECM), these loans are federally insured by the U.S. Department of
Housing and Urban Development (HUD) and administered by the Federal Housing Administration (FHA).
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Drive a Bargain with GSFCU's Auto Buying Service, New Cars Inc.!
Auto Buying Services have been around for years… they are so helpful, yet not a lot of people know they
exist. Our auto buying service, New Cars Inc. (NCI), has
helped Credit Union members with their new and preowned
vehicle purchases since 1986. With over 55,000
vehicles delivered, they know where and how to get
great deals. When you're in the market for your next
new or pre-owned vehicle, give New Cars Inc. a call and
let them handle all of the searching and negotiation for
you. Also, if you purchase through NCI and finance
through Grossmont Schools Federal Credit Union, you will receive an additional
.25% off of your auto loan rate. Call us for details!
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Did You Know?
Auto Equity Loans Available at GSFCU!
You could purchase your next vehicle
(or refinance an existing vehicle
financed elsewhere) and lower your
income tax rate? If you own your
home, this could be for you! Our
Auto Equity loan allows a "Courtesy
Lien" to be recorded on your home,
giving you potential tax deductibility
of finance charges.* Our Auto Equity
loans have the same great rates,
terms and conditions as our regular
Vehicle Loans. No equity in your
home is required; no appraisal or title
insurance fees.** Call us or apply
online at www.gsfcu.org.
*Consult your tax advisor for your specific situation.
**There is a document preparation fee of $25, plus county
recording charges.
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Scholarship Applications Available
It's time again for Grossmont Schools FCU to award
its $1,000 Thomas H. Gould and Paul R. Marsh
Scholarships to five commendable students. At
least one award will be given to a graduating senior
(a family member of a current GSFCU member)
who plans to attend college in the fall. At least
one award will go to a GUHSD senior who will
attend either Grossmont or Cuyamaca College. A
minimum of two scholarships will go to current
students from these colleges who will return next
year. The remaining award will go to a deserving student from the two high
school scholarship categories.
The application deadline is May 2, 2008. Visit the credit union or see www.gsfcu.org for an application and more information.
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Closed For The Holidays
Memorial Day
Monday, May 26
Independence Day
Friday, July 4
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2008 - 2009 Board Of Directors And
Annual Report
The 2007 Annual Report is now available. You may pick yours up at the credit
union office, give us a call or visit us online at www.gsfcu.org for the electronic
version. Officers for the 2008-2009 Grossmont Schools Federal Credit Union
Board of Directors are:
Glyn Rowbotham, Chairman
Ron Blazovic, Vice Chairman
Sandy Beasley, Secretary
Pat Price, Treasurer
Roger Harwood, Director
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Member Choice Credit Life/Credit
Disability Insurance
Attention, members with Member Choice Credit Life/Credit Disability
Insurance: Your policy may not cover an advance on your loan or credit line
if your disability or death results from a condition for which you have seen a
doctor or chiropractor in the six months before your advance.
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