Monthly Spotlight

Volume 6 • Issue 2
March • 2010
www.gmcu.com 800.808.2830
“Discover the Difference”

HAPPINESS = Rate Watch

A NEW RIDE AND A GREAT RATE! Loans
Auto, New - 2008
RATES AS LOW AS ......................(as low as) 5.54% APR*
Boat & RV, New - 2008
3.99% APR / 36 months ......................(as low as) 5.54 APR*
4.49% APR / 48 months Auto, Boat & RV, 2007-2003
......................(as low as) 7.14% APR*
Autos • Boats • RVs • Big Toys Unsecured
Motorcycles and More! ......................(as low as) 10.99% APR*

*APR= Annual Percentage Rate. Cost per thousand is $29.52 for 36 month term. Cost per Visa
thousand is $22.80 for 48 month term. Collateral must be 2005 or newer. On approved ......................(as low as) 9.49% APR*
credit. Rate and terms can change at any time. Other favorable rates and terms available
for older collateral. New money only. Re-fi from another financial if collateral years met. Mortgages
First Mortgage
Considering eStatements? ......................(as low as) 6.29% APR*

Save time and the clutter! When you sign up for eStatements, Home Equity
you receive an email confirmation when your statement is ......................(as low as) 6.29% APR*
ready to be viewed through our Home Banking Web Site.
Fixed-rate mortgages are available through the
• 24/7 access anywhere you have an Internet connection. secondary market. For current rates and information,
contact Carey at 320.679.3863 or 800.808.2830. Lowest
• Helps guard against Identity Theft. No more statements
rate subject to credit score and checking/auto pay
in the mail box! relationship. Rates are subject to change at any time.
• 18 months of online eStatement storage.
• Securely stored. Print them anytime for FREE! Certificates
• No more mail delays! eStatement notification is quick. $500 minimum deposit.
Signing up for eStatements is easy and only take a moment! To sign up go to 12 month...........1.41% APY**
www.gmcu.com and under Information Center click on the “Sign up for eStatements” link. 18 month...........1.56% APY**
24 month...........1.76% APY**
36 month...........2.12% APY**
75th Annual Meeting Reminder 48 month...........2.12% APY**
The Greater Minnesota Credit Union Board of Directors and staff 60 month...........2.32% APY**
invite you to attend the 75th Annual Business Meeting.
*Annual Percentage Rate.
Doors Open: 6:00 p.m. **Annual Percentage Yield.
Penalty for early withdrawal. Rates are subject
Business Mtg.: 7:00 p.m. to change at any time. Rates are current as of
When: Monday, April 12, 2010 2/22/10. For current rates, please go to www.
Where: Grace Lutheran Church; 301 Forest Avenue • Mora, MN gmcu.com. For more information, contact our
Call Center at 800.808.2830.
The purpose of the business meeting is to elect new members to the Board of Directors,
review the annual reports of the Board of Directors, the President/CEO, Credit Manager
and Supervisory Committee for the fiscal year ending December 31, 2009.
Final Rule On Overdraft Opt-In Requirement: Effective July 1, 2010
If you have a GMCU ATM or Debit card, in the coming weeks you will be receiving
important information from us regarding changes to Debit and ATM rules that go into
effect July 1, 2010.
These rules announced by the Federal Reserve affect overdraft fees that result from ATM
and one-time debit transactions.
These rules do not apply to overdraft fees associated with check writing or recurring debit transactions, such as
regularly scheduled bill payments.
Be on the look out for a letter from GMCU detailing these changes. Included will be an opt-in form, if you so desire. Please
complete the form and return it to us as soon as possible. If you have questions regarding the new regulations, please
call 800.808.2830.

GMCU Partners with Consumer Loan Services

This new partnership allows GMCU to offer a greater selection of mortgage products
for all your needs. To learn more about the mortgage loan options available to you,
please call 800.808.2830.

FHA • VA • Rural Development

Low Down Payment Options!

Is Refinancing Right For You?

When you are considering refinancing, the first question to ask is why am I doing this?

Lower Interest Rates

In the best scenario, refinancing your current mortgage with a lower interest rate mortgage loan can lead to a lower monthly
mortgage payment and increased cash flow. You can use the extra cash to pay down debt or save more.

Transform Equity into Cash

Two of the most common uses for taking “cash-out” when you refinance is to do home improvements or to pay off debt.
Home improvements can be a good investment in your house because they can increase the market value of your house if you are considering
selling the house. If you’re not selling, the improvements add quality to your life.
If you are paying off unsecured debt like credit cards with cash-out from a refinance, be aware of your spending behavior before making the
move. If you think that you will accumulate more debt on the credit cards, you might consider a different option.

Add Security to the Mortgage – Peace of Mind

The type of mortgage you have and the type you are getting may make a difference too. You might choose to refinance even if you aren’t going
to save money on your monthly mortgage payment. Perhaps you have an adjustable rate mortgage and you would feel more secure with a
fixed rate mortgage.

If you are considering refinancing, discuss your circumstances with a Greater Minnesota Credit Union Member Service Representative or a
trusted financial counselor. As a valued member of Greater Minnesota Credit Union, you can take advantage of the Accel program, a free
financial education and counseling program. Simply call 1-877-33ACCEL (332-2235) or visit them on the web at www.accelservices.org

Branch Telephone # Mora, Milaca, Isle, Pine City and Ogilvie Branch Hours
Mora 320.679.3863 Monday - Thursday Friday Saturday
Milaca 320.983.2511 Lobby: 8:30 am - 4:30 pm Lobby: 8:30 am - 6:00 pm Drive-thru: 8:00 am -12:00 pm
Isle 320.676.3607 Drive-thru: 8:00 am - 5:00 pm Drive-thru: 8:00 am - 6:00 pm
Elk River 763.441.3842 Elk River Branch Hours
Pine City 320.629.1178 Monday - Thursday Friday Saturday
Ogilvie 320.272.9918 Lobby: 8:30 am - 4:30 pm Lobby: 8:30 am - 6:00 pm Lobby: 8:30 am -12:00 pm
Drive-thru: 7:30 am - 5:00 pm Drive-thru: 7:30 am - 6:00 pm Drive-thru: 8:00 am -12:00 pm
Call Center Hours
Monday - Thursday Friday Saturday
7:30 am - 5:00 pm 7:30 am - 6:00 pm 8:00 am -12:00 pm