Avoid the pitfalls of leasing a vehicle
If you have Lexus dreams and a Honda Civic budget, you may be considering leasing a vehicle. But two-thirds of new cars on the road are financed rather than leased because of the benefits you find. Think carefully about your needs before you jump into a lease on a new vehicle. Financing with a low-interest auto loan from Albertsons Employees' Federal Credit Union can be a very smart financial move.

You own the car

  

Buying has its privileges
The most obvious benefit of financing is full ownership of the car in three to six years. In a lease, you never actually own the car; you are paying only for its use. The amount you pay is based on the expected depreciation of the vehicle during the lease's term, plus interest, plus a profit factor. Since you build up no equity in the car with a lease, it's really a kind of long-term rental with mileage limits. There is a large payment due at lease signing, and you are restricted to servicing the vehicle at the dealership where it was leased. Even if you decide to purchase the car at the lease's end, you probably will pay more than if you financed the vehicle in the first place.   A vehicle financed through a low-rate auto loan from Albertsons Employees' Federal Credit Union can fit almost any budget. In addition, by financing the vehicle you'll enjoy lower insurance premiums, have no mileage limitations and will own a trade-in when you are ready for your next vehicle. You are also free to make any performance modifications and add any aftermarket accessories you desire. Don't let the dealership talk you into more car than you can afford. Look over your financing options with Albertsons Employees' Federal Credit Union before entering into any lease agreement. Call our loan department, visit us online, or come into your local branch office today.


Mechanical Breakdown Protection

It's like health insurance for your vehicle
After the Manufacturer's New Vehicle Warranty expires, what can you do to avoid expensive auto-repair bills? You can 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.


Payday loans - Legalized loan sharking

BRANCHES

P.O. Box 8145
Boise, ID 83707
(208) 385-5200
Fax: (208) 385-5290

3305 Lake Breeze
Orlando, FL 32808
(407) 292-2006
Fax: (407) 292-2520

1327 Brown Trail
Bedford, TX 76022
(817) 285-8292
Metro Line: (817) 268-6710
Fax: (817) 285-7053

341 E Imperial Highway
Fullerton, CA 92835
(714) 738-4681
Fax: (714) 870-6408

BOARD OF DIRECTORS

Bob Baker, Chairman
Bill 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, President and 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

FINANCIAL HIGHLIGHTS

(as of April 2003)
Members 45,769
Shares $152,020,783
Loans $71,718,267
Total Assets $180,188,062

It's best to avoid this most expensive form of credit
Cash advance loans and the businesses that provide them are growing at an alarming rate. Unfortunately, they target an underserved portion of the population that is ignored by banks and lenders - those who are desperate for money. Stories about people forced into bankruptcy by payday loans are growing.
These payday loans come with triple-digit interest rates for small, short-term loans, usually until next payday. However, many people will "roll over" the loan to subsequent weeks, continuing to pay large fees while the original debt remains unpaid. Some people even take out multiple payday loans at various locations, a risky and often devastating move.
A better alternative to the payday loan trap is to contact a Credit Union loan officer. 		  We can suggest alternatives, such as applying for an overdraft protection loan for your share draft account.
Visit our Web site for more information about our overdraft protection line of credit. Don't let the legal loan sharks take a bite out of your wallet.

What is a Credit Union?
Credit Unions are non-profit, cooperative financial institutions owned and run by members for the benefit of members. Everyone who has a basic Share Account is a part owner with a voice in how the Credit Union is run, through a democratically elected volunteer Board of Directors. Banks, on the other hand, are for-profit institutions, operated for the benefit of a group of investors.
Because Credit Unions distribute profits to member-owners, they are exempt from paying both federal and state income taxes. Member-owners benefit through higher rates paid on deposits, lower rates charged on loans, and products and services at lower cost. Bank profits are distributed to its investors, who like Credit Union members, own shares of the company.
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 with your attorney, accountant, or financial or tax advisor with regard to your individual situation. Entire publication © Albertsons Employees' Federal Credit Union 2003. All rights reserved.
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