Grossmont FCU Newsletter

Insight
A Few Words From Our CEO

Steven A. DevanIn 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
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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