Important NoticeThere has been an increase recently in automated calls
that fraudulently try to obtain debit and credit card
information from consumers. These calls are not generated from any financial
institution. Please remember
that we will never request personal or sensitive information by phone or e-mail.
32,000 Surcharge-Free ATMs Nationwide
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CSPCU is pleased to provide,
Allpoint, America's largest surcharge-free ATM network at no
charge to our members.
With over 32,000 ATMs, Allpoint is the largest single source for
surcharge-free access coast to coast. To find a surcharge
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Fraud Alert
Residents in New Jersey and surrounding areas have been
receiving automated "Vishing" telephone calls impersonating a local financial
institution. The calls have gone out to thousands of area residents regardless
of which financial institution they patronize. It is clear that the perpetrators
of this scam are not in possession of specific information for the financial
institution they are impersonating.
In the scam the consumer receives a pre-recorded call
identifying a specific local financial institution. The message informs the
consumer that their personal bank accounts have been frozen. The message advises
the consumer to immediately input their ATM or Debit Card number, expiration
date and PIN to reactivate the affected account. The security code from the back of the
card may also be requested. Unauthorized ATM withdrawals are occurring
immediately.
Never give out personal information over the phone unless your
sure of the party you are dealing with.
Do we have your current address?
If you move please make sure to notify the credit union of your
new address.
Is comparing APRs the best way to decide which lender has the
lowest rates and fees?
The Federal Truth in Lending
law requires that all financial institutions disclose the APR when they
advertise a rate. The APR is designed to present the actual cost of obtaining
financing, by requiring that some, but not all, closing fees are included in the
APR calculation. These fees in addition to the interest rate determine the
estimated cost of financing over the full term of the loan. Since most people do
not keep the mortgage for the entire loan term, it may be misleading to spread
the effect of some of these up front costs over the entire loan term.
Also, unfortunately, the APR
doesn't include all the closing fees and lenders are allowed to interpret which
fees they include. Fees for things like appraisals, title work, and document
preparation are not included even though you'll probably have to pay them.
For adjustable rate
mortgages, the APR can be even more confusing. Since no one knows exactly what
market conditions will be in the future, assumptions must be made regarding
future rate adjustments.
You can use the APR as a
guideline to shop for loans but you should not depend solely on the APR in
choosing the loan program that's best for you. Look at total fees, possible rate
adjustments in the future if you're comparing adjustable rate mortgages, and
consider the length of time that you plan on having the mortgage.
Don't forget that the APR is an
effective interest rate--not the actual interest rate. Your monthly payments
will be based on the actual interest rate, the amount you borrow, and the term
of your loan.
Travelers Checks
Effective January 1, 2008 the credit union will no longer sell
travelers checks.
Identity Theft
If you would like to learn how to protect yourself from identity
theft and other internet scams click on the icon below.
