| What to
look for when buying a used car
H ave you ever kicked the tires on a used car you were considering? It's best to arm yourself with the information you need to determine the mechanical soundness of a used vehicle. What should you look for when you are in the market for a used car?Before you begin looking, think about what type of vehicle you want, which options you want and how much money you want to spend. While you may have a particular model in mind, consider similar vehicles to ensure you're getting the best buy. Once you spot a used vehicle you like, examine it thoroughly. Check for obvious signs of body repair such as misaligned body panels, overspray, or mismatched or bubbled paint. Check the tires for uneven wear, a sign that the wheels are not aligned properly. Inside, the odometer reading should seem reasonable for the general condition of the vehicle, the wear on the brake and accelerator pedals and the interior upholstery condition. Look under floor mats and be aware of any musty smells, which could mean a leak in the cabin. Take the vehicle for a long test drive that duplicates your daily driving routine. How does the car respond when you hit the accelerator? Does it ride and shift smoothly? Is the steering tight and responsive? Do the brakes feel firm or do they pull to one side? Pay attention to dashboard indicators, listen carefully for unusual sounds and have someone watch for smoke coming from the exhaust. Finally, ask the seller to provide a CARFAX report or simply go to www.carfax.com to request your own. This report will examine the vehicle's title for any problems. Don't waste your time kicking the tires. Make the wrong decision on a used vehicle and you may end up walking. Armed with a little common sense and a good eye, you'll drive away in a used-car dream. | |||
Mechanical Breakdown
Protection After the Manufacturer's New Vehicle Warranty expires, what can you do to avoid expensive auto-repair bills? You could take advantage of the Mechanical Breakdown Protection plan from Albertsons Employees' Federal Credit Union. This valuable protection plan that covers your new or used vehicle is a low-cost alternative to auto-dealer contracts that cost hundreds more. Our Premium Value Protection Plan covers more components on your car than the original factory drivetrain warranty. It also provides towing, rental, travel and tire road hazard benefits. So don't be burdened by unexpected auto-repair bills after the manufacturer's warranty expires. When applying for a new or used vehicle just ask for the cost of Mechanical Breakdown Protection to be figured into your auto financing. It's easy to keep your car on the road with Albertsons Employees' Federal Credit Union. |
See you online with CU OnLine Reports estimate that by next year, 60 percent of the U.S. population will have access to online banking services. As an Albertsons Employees' Federal Credit Union member, you have access to these time-saving, convenient services right now. Our CU OnLine banking has become popular with members who don't have a lot of time to waste. But then who does? Online banking gives you the freedom to do virtually all of your banking 24 hours a day without leaving your home. The secure access to your detailed financial information means you can more closely monitor your accounts. What can you do with CU OnLine? You can view your account balances or search an 18-month history of your accounts. Find specific drafts, or transfer money between your accounts. All CU OnLine account access features are free for credit union members. If you really want to save time, you can choose the optional Bill Payer service for only a $5 monthly fee. It's easy to enroll--simply visit our Web site, print the application form and return it to the Credit Union. Five to seven days later, your CU OnLine account will be available. Learn how convenient it is to save time with Albertsons Employees' Federal Credit Union's online banking service. |
| Your credit union wants you to know Cash advance loans can be a trap |
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Would you pay 261 percent APR or more to borrow a small amount of money? Triple-digit interest is common for the growing industry known as cash advance, or payday lending. In fact, a survey by the Consumer Federation of America in Washington, D.C., found that payday lenders charge from 195 to 1092 percent APR for payday cash advances. Compare those rates to the highest credit card cash advance rates at 24 percent, or a small loan company, which charges around 36 percent for loans. When living from paycheck to paycheck, these loans are the least affordable option available, but people still pay the exorbitant rates. Payday and cash advance lenders are operating within the law, which states that the APR must be disclosed to borrowers. These loans seem convenient and |
easy, but they create a debt trap that is hard to escape. Still, it seems that people are willing to part with their money. The prevalent belief that next payday will make it all even rarely materializes and the borrower is faced with paying back the loan, or revolving it for even higher rates to make it until next payday. It's a vicious cycle you don't want to begin. Instead, come to the Credit Union where we can assist you. An Overdraft Protection Line-of-Credit is an excellent alternative to the high rates of payday loans. Just open a Share Draft (checking) Account at the Credit Union and apply for a Line-Of-Credit by completing the reverse side of a Universal Application or a LoanLiner Application. Applications are available at your store or credit union branch office. Don't be gouged by the unreasonable interest rates of payday lenders. |
BRANCHES Boise Branch Office Orlando Branch Office Dallas/Ft. Worth Branch Los Angeles Branch BOARD OF DIRECTORS Bob Baker, ChairmanBill Carter, Vice Chairman Mike Shalz, Treasurer Lary Matthews, Secretary Cynthia Forsch, Member Doug Gibson, Member Gary Morton, Member Pradip Mehta, Member Kevan Fenderson, Member MANAGEMENT STAFF Phyllis Thomason, Presidentand Chief Executive Officer Michael S. Vickery, Senior Vice President and Chief Operating Officer Theresa Koenen, Loan Manager Ann Cargile, Loan Servicing Supervisor Chris Demaray, Manager, Member Services and Human Resources Bonnie Kuhl, Card Services Supervisor Stacey Devereaux, Manager, Accounting and Electronic Services Leo Francis, Manager, Branch Operations and Regulatory Compliance Clem Godin, Orlando Branch Manager Tanya Brumfield, Dallas/Fort Worth Branch Manager Laura Sotelo, Los Angeles Branch Manager |
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FINANCIAL HIGHLIGHTS Members.....................46,710 |
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The articles and opinions in this publication are for general information only and are not intended to provide specific advice or recommendations for any individual. We suggest that you consult your attorney, accountant, or financial or tax advisor with regard to your individual situation. Entire publication ŠAlbertsons Employees' Federal Credit Union 2001. All rights reserved. |