Message to the Membership
2020 was a challenging year for us all. As a not-for-profit financial institution, we’re pleased to report that we remain safe and sound, well capitalized and a preferred alternative to big banks. We worked hard to provide more value to enhance our member-owners’ lives, especially those impacted by COVID-19. We were “Big Enough to Serve - in a year that we will never forget - but Small Enough to Care”. We hope you stayed well, and our hearts go out to those we lost.
This year we prioritized keeping people safe and continued to provide essential financial services to our members throughout the pandemic. We were able to keep most branches open, as well as expand digital and phone access. We offered swift loan payment deferrals to members who had reduced income, lost their jobs or had their businesses closed. We made emergency loans and also waived numerous fees to make life more affordable. A big thanks goes out to our staff - frontline heroes - who showed compassion, helped to create normalcy and adapted through flexibility in service delivery as well as remote capabilities.
In 2020, we made a record breaking $120M in loans, to help members reduce the cost of debt and finance important purchases to enhance their lives. Mortgage refinances were at an all-time high because rates were so historically low. We were proud to be able to participate in the SBA Paycheck Protection Loan Program (PPP) that provided forgivable money to help businesses survive the shut downs and keep employees paid. Regular savings ensures that members have a safety net for unexpected emergencies or the funds to reach a goal. Shares grew by an unprecedented $64M, almost 16%, and total assets reached almost $474M. Although market rates remain low, we continue to offer some of the best rates available, including our reverse-tier $mart Start Money Market that still earns up to 3% APY. We also welcomed thousands of new members and opened many checking/mobile apps and digital service relationships that increased convenience and saved members thousands in fees.
In 2021, low loan rates provide an on-going opportunity to save by refinancing. If you are a business owner, PPP Loans are available again, and we can help. Through our dedication to People Helping People, we will continue to support our members through difficult times and reach out to offer affordable credit union services to more members. For your convenience, we will continue to improve our on-line digital banking capabilities, and are planning to add a new branch or two in the next few years. We also look for ways to expand our involvement in the communities we serve to ensure everyone has access to the value provided through credit unions. As a financial cooperative, we put you first and welcome everyone in the communities we serve. Your satisfaction is our number one priority; we pledge to bring you more value, and we strive to deliver it with the personal service you deserve. Thank you for your business and your referrals.
Get Ready For Summer With Savings On Recreational Vehicle Loans
And we’re not just talking about a giant RV for that family-friendly road trip, but you can save there, too.
For a limited time, we’re offering a special 1/2% rate reduction on our already low rates for recreational vehicles – that’s boats, trailers, watercraft, and more – including RVs.
- APRs as low as 4.99% for new or used
- Fixed rates with terms up to 240 months for larger purchases
- In most cases, you can finance up to 100% (MSRP or Retail NADA)
Talk with a Member Service Representative today about your financing options. You can even get preapproved before you shop! And then, you’ll be ready for summer, or even the warmer weather this spring.
Annual Percentage Rates (APRs), terms and offers effective 04/01/2021 and subject to change at any time. Finance up to 100% of MSRP (or retail NADA for used) plus warranty up to $5,000 and GAP up to $1,000. APR assumes ½% discount for automatic payments, plus ½% promotional discount. Certain restrictions apply. Your actual rate may vary and will be based on credit rating, the amount financed and the loan term. Minimum loan amount: $3,000/ 48 mos plus; $5,000/ 60 mos plus; $10,000/ 72 mos plus; $18,000/ 84 mos plus; $25,000/ 120 mos plus; $40,000/ 144 mos plus; $50,000/ 180 mos plus; $75,000/ 240 mos plus. Payment example: 72 monthly payments of approximately $16.11 per $1,000 borrowed. Offers cannot be used to refinance an existing First U.S. loan.
Why Pay More For A Cash-Out Refinance?
With a home loan from First U.S., you don’t have to pay a higher rate, just to take some cash out when you refinance to today’s low rates. You deserve the same low rate you get whether you’re purchasing, refinancing, or refinancing to take some cash out.
30-YEAR FIXED RATE HOME LOAN
LOAN AMOUNTS TO $548,250
- Purchase or Refinance
- Low, Fixed Rates
- No Points and Low Fees
- Local Approvals, Underwriting and Funding
With a cash-out refinance, you can use the funds for any purpose, like a home renovation, to pay down higher-rate debt, or for college expenses. And because it’s from First U.S., you won’t get a higher rate just to tap into a little of your hard earned home equity.
Talk with one of our Real Estate specialists today. As the lender you trust, you know you’ll get the honest answers to your questions, and the courteous help you deserve when figuring out how to meet your home financing needs. Just call us at (800) 556-6768 or visit firstus.org to apply today.
And ask us about our low rates for jumbo loans – also without paying a higher rate for a jumbo cash-out refinance.
Annual Percentage Rates (APRs), terms and offers effective 04/01/2021 and subject to change at any time. 80% CLTV, owner occupied, purchase or refinance loans in California only. Payment example: 360 payments of approximately $4.28 per $1,000 borrowed. Taxes and insurance are not included in payment example; your actual payment will be higher. Cannot be used to refinance an existing First U.S. loan; contact us for details.
Take advantage of our security services
Set an Account Password – an extra layer of protection in addition to the identity verifications we already require for account access. Your Account Password would be required anytime you call or make a transaction in-branch.
- Sign up for FREE Mobile Banking with the First U.S. Mobile app, so you can block your cards right from your phone (or your PC with Online Banking).
- Sign up for eAlerts so you can be notified immediately of large credit card purchases, loan transactions, available checking or credit card balances, non-sufficient funds, mailing and email address changes, and more.
- Protect your online purchases by adding a personal password to your Visa cards for online shopping. Simply enroll in Verified by Visa® at Visa.com.
- Activate an ID theft protection plan through IDShield® We offer member discounts for monitoring services, and more importantly, ID Restoration assistance if you become a victim of identity theft. Sign up at firstus.org.
IMPORTANT REMINDER: While we will verify your information when you reach out to us, we will not contact you and then ask for your personal information. If you receive a request by text, email or phone to provide any private information, including your PIN or social security number – DON’T, even if it seems to have come from us. It’s best to ignore the contact, and instead, call us directly at (800) 556-6768 to verify any request.
2021 Annual Meeting Results
On February 25th, First U.S. held its Annual Meeting. Board and Management highlighted a successful 2020, and during the meeting, Board Members Dennis B. Cook, Nancy Lee, and Karen McDougal were each re-elected by acclamation to serve additional three-year terms. We thank our volunteer Board of Directors for their dedication and service to First U.S.
Annual Notice to Open-End Credit Life/ Credit Disability Policyholders
This insurance may not cover an advance or charge under your 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 the advance or charge.
(916) 576-5700 or (800) 556-6768
Phone Center hours: Mon-Fri, 9:15 a.m. – 6 p.m.; Sat, 9 a.m. – 2 p.m.
firstus.org • firstname.lastname@example.org
This publication does not constitute legal, accounting or other professional advice. Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material.
© 3/2021 First U.S. Community Credit Union