Looking for great rates and service you can trust? Look to American First Credit Union
for your next auto loan, personal line of
credit, mortgage or mortgage refinance. Call 800/ 290-1112 or visit www.amerfirst.org.
What Has Changed
The biggest difference in lending today is that borrowers are required to provide proof of income. "This shift not only protects financial institutions from loan losses, it also protects borrowers from borrowing more than they can realistically afford," explains Ruby Huggler, Consumer Lending Manager.
In the past, it was possible to get a loan based solely on a good credit score. Although credit scores are still important, you can trust that lenders will look at the big picture and consider other factors as well. "We may have different requirements for lending, but that doesn't necessarily mean it's harder to get a loan. It just means there may be a few extra steps in the process," Huggler says.
Come Prepared
If you're planning to apply for a loan, being prepared can help you complete the application process with ease. You may want to do the following in advance:
- Provide proof of income. Have copies of your two most recent pay stubs ready, and if you're self-employed, at least two years of tax returns.
- Know what's on your credit report. Check your credit report for free at www.annualcreditreport.com. Review your credit report and contact the credit reporting agency immediately to report any errors.
- Use the calculators and tools available at www.amerfirst.org to help determine how much you can afford.
Not Sure If You Qualify?
Many of our Members have experienced credit challenges due to job losses and reduced wages. Instead of turning to credit cards or other forms of high-interest debt, we encourage you to explore other cost-saving options with us. We are happy to help you find a solution that fits. Call 800/ 290-1112 or visit www.amerfirst.org.
Know the Score Before Applying for a Loan
Your credit score, a statistical summary of all of the data in your credit report, allows lenders, insurers and others to make a quick decision about your creditworthiness. Those three digits can affect your ability to secure a loan.
Raising Your Grade
If you want the power to negotiate a favorable rate on your next loan or insurance purchase, the following tips may help you keep your score in tip-top shape.
At least six months before you plan to apply for credit:
Raising Your Grade
If you want the power to negotiate a favorable rate on your next loan or insurance purchase, the following tips may help you keep your score in tip-top shape.
At least six months before you plan to apply for credit:
- Keep your credit utilization ratio below 25%. It's important to note that this number reflects your balance at the time you request the loan. Charging a big-ticket item around that time can skew the ratio, even if you intend to pay it off quickly.
- Avoid closing old accounts. It diminishes your total credit available and can raise your credit utilization ratio.
- Don't open new accounts. This can look like you plan to borrow a lot of money, which could stretch your finances too thin.
- Settle all fines and tickets. An outstanding library fine or parking ticket can reduce your score if a collection agency gets involved.
Feeling the Pinch? Check Out a Line of Credit
In this tight economy, your budget might be squeezed to the limit. It's important to use smart, straightforward solutions to your financial problems.
An American First Credit Union Line of Credit is one way you can simplify your money. A line of credit allows you access for any purpose when the need arises. It can also be used as an overdraft source in the event there are not enough funds to cover a check you have written from your checking account, saving you from bounced check fees.
In our uncertain economic climate, an American First Line of Credit can give you the peace of mind that you'll be covered in all those "just in case" moments. And a line of credit has many advantages over credit cards – the rate is generally lower than most credit cards, and our line of credit has no annual fee.
To apply, simply call 800/ 290-1112, visit www.amerfirst.org or stop into a branch.
In this tight economy, your budget might be squeezed to the limit. It's important to use smart, straightforward solutions to your financial problems.
An American First Credit Union Line of Credit is one way you can simplify your money. A line of credit allows you access for any purpose when the need arises. It can also be used as an overdraft source in the event there are not enough funds to cover a check you have written from your checking account, saving you from bounced check fees.
In our uncertain economic climate, an American First Line of Credit can give you the peace of mind that you'll be covered in all those "just in case" moments. And a line of credit has many advantages over credit cards – the rate is generally lower than most credit cards, and our line of credit has no annual fee.
To apply, simply call 800/ 290-1112, visit www.amerfirst.org or stop into a branch.
 24/7 Live Phone Support (including holidays) 800/ 290-1112 562/ 237-5111 (fax) www.amerfirst.org contactus@amerfirst.org Important Dates Annual Meeting – April 29 at 6 pm at La Habra branch Memorial Day – Closed May 31 Independence Day – Closed July 5 CU Service Centers® More than 3,300 shared branches nationwide 888/ CUSWIRL www.cuswirl.com CO-OP ATMs 28,000+ free ATMs nationwide, including 5,500 in 7-Eleven stores. 888/ SITECOOP www.co-opnetwork.org |
La Habra Buena Park Orange Tustin Express Branch Hours
Monday-Thursday 9 am-5 pm |
| 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. Images may be from one or more of these sources: ©Thinkstock, ©iStock, ©Fotolia. ©2010 Priority Publications, Inc. priorityresults.com | |