William Penn Life, 1989 (24. évfolyam, 1-12. szám)

1989-03-01 / 3. szám

Page 6, William Penn Life, March 1989

Good credit rating vital to financial health

A good credit rating, like good health, is often not appreciated until it is lost. Since negative entries can stay on your credit report for seven years — 10 years if you have filed for bankruptcy — it is a good idea to keep it in top shape.

Credit bureaus collect information about most accounts and loans. That is why it is important to pay all of your bills on time. And, be aware that if you cosign a loan for someone who defaults, it may end up on your credit report as well.

You have the right to see what

is in your credit report at no charge if you have been turned down for credit withing the past 30 days. Otherwise, it will cost you a modest fee.

If you have allowed your credit report to become tarnished, do not fall for tempting "100 percent guaranteed” quick fixes for your money problems. Last year, hundreds of Americans were defrauded when a "credit repair” company went out of business.

The firm’s "counselors” promised to fix bad credit reports for a substantial fee. What they claimed is impossible under the law. If

there is negative information on a credit report, there is nothing anyone can do to remove it until the appropriate amount of time has elapsed. The company’s franchises closed their doors without warning after taking people’s money, leaving many $850 poorer.

If you are caught in a money squeeze, visit our Credit Union first for help. We can assist you in setting up a savings plan to get you out of debt. We can help you decide if a bill consolidation loan is right for you.

Or, check the yellow pages of

your phone book for the nearest Consumer Credit Counseling Service agency. These agencies provide debt counseling services for people with serious financial problems. They are non-profit groups affiliated with the National Foundation for Consumer Credit and are supported by contributions from credit unions, community-minded companies, individuals and others.

Remember, like a good reputation, a good credit rating is not something you are born with. You must earn it. And, unlike profit-centered financial institutions, our Credit Union’s primary reason for existing is to help you build and maintain a sound economic base.

You can take a giant step toward financial independence by joining the William Penn Association Federal Credit Union. As you add to your share account, you lay the foundation for a solid credit rating. The next step is to pay bills on time and make thrifty habits a part of your life.

Whatever your financial needs, our Credit Union wants to help. After all, we are the peoplehelping-people place.

*FOR WPA FEDERAL CREDIT UNION MEMBERS ONLY*

WPA Federal Credit Union #02661 1989 Christmas Club

APPLICATION FOR CHRISTMAS CLUB ACCOUNT

CREDIT UNION ACCOUNT #_______________________________________________________

NAME:

ADDRESS:

CITY:

STATE:

ZIP:

PHONE: ( )

SOCIAL SECURITY #

ENCLOSED IS MY INITIAL DEPOSIT IN THE AMOUNT OF $

SIGNATURE:________________________________________________DATE:_______________

YOUR CHRISTMAS CLUB DEPOSITS WILL APPEAR ON YOUR MONTHLY STATEMENT OF ACCOUNT.

Current Loans and Rates

Type of Loan

Max. Amount

Rate

Signature Loan

$5,000*11.75%*

Co-signed Loan

$3,000

11%

Shared-Secured Loan

Up to the value of your credit union deposit

10%

New Car Loan

$12,500 maximum with 20% down payment

10.75%

Split dividend declared for the period 7/1/88 to 12/31/88:

BALANCE RATE

$25.00 to $100.00 .............. 41/2%

$101.00 to $500.00 ................5%

$501.00 to $2,000.00........... 5V2%

$2,001.00 and over................6%

•Maximum amount and interest rate given for Signature Loan valid through March 31,1989.

Loan applications are available to all members of the William Penn Association Federal Credit Union.

*FOR PENNSYLVANIA RESIDENTS ONLY*

É William Penn Association Federal Credit Union

APPLICATION FOR MEMBERSHIP

#02661

(FORM WPAFCU 150)

THIS SECTION TO BE COMPLETED BY ALL APPLICANTS

THIS SECTION FOR JOINT ACCOUNT APPLICANTS ONLY

(LAST)

(FIRST)

(MIDDLE)

NAME

(LEAVE BLANK)

ACCT. #

TAX IDENTIFICATION NUMBER OR SOCIAL SECURITY NUMBER

ADDRESS

CITY

STATE

ZIP

HOME

BUSINESS

TELEPHONE ( )

TELEPHONE (

)

EMPLOYER

OCCUPATION

PLACE OF BIRTH

DATE OF BIRTH / /

WIFE'S FIRST & MAIDEN NAME

OR HUSBAND’S FULL NAME

I hereby make application for membership in the William Penn Association Federal Credit Union #02661, and agree to conform to its by-laws and amendments thereof, copies of which have been made available to me, and to subscribe for a least five (5) shares. If Life Savings insurance is carried in connection with my account, I agree, in consideration of the credit union carrying such insurance, that any designation or change of beneficiary made by me shall only be binding upon the credit union, if I have filed with the credit union prior to my death, such designation or change of beneficiary, in writing, signed by me, on the form supplied by the credit union; and, in the absence of so filing a designation or change of beneficiary, I agree on behalf of myself, my heirs, etc., to indemnify and save harmless the credit union from all loss or damage by reason of the payment of the proceeds of such insurance to such person as the credit union records show to be entitled thereto.

SIGNATURE .

.DATE.

NUMBER OF SHARES YOU WISH TO PURCHASE (Minimum: 5 Shares)

AMOUNT ENCLOSED [No. Shares X $5.00/Share (add $1.00 Entrance Fee)]

JOINT SHARE ACCOUNT AGREEMENT

The William Penn Association Federal Credit Union #02661 is hereby authorized to recognize any of the signatures subscribed hereto in the payment of funds or the transaction of any business for this account. The joint owners of this account, hereby agree with each other and with said Credit Union that all sums now paid in on shares, or heretofore or hereafter paid in on shares by any or all of said joint owners to their credit as such joint owners with all accumulations thereon, are and shall be owned by them jointly, with right of survivorship and be subject to the withdrawal or receipt of any of them, and payment to any of them or the survivor or survivors shall be valid and discharge said Credit Union from any liability for such payment. The joint owners also agree to the terms and conditions of the account as established by the credit union from time to time.

Any or all of said joint owners may pledge all or any part of the shares in this account as collateral security to a loan or loans from this credit union.

The right or authority of the credit union under this agreement shall not be changed or terminated by said owners, or any of them except by written notice to said credit union which shall not affect transactions theretofore made.

[The signature on the first line (★) should be the same as signed on left side of this application.)

SIGNATURES OF JOINT OWNERS _________(Each Must Sign)_________

DATE

TAX IDENT. NO. OR SOCIAL SECURITY NO.

DATE OF BIRTH

(LEAVE BLANK)

JOINT ACCT. #

THIS SECTION FOR OFFICE USE ONLY

This application approved by: □ The Board □ Executive Committee □ Membership Officer

Date

Signed

(□Secretary □ Exec. Comm. Member □ Membership Officer)

METHOD OF PAYMENT: □ PERSONAL CHECK □ MONEY ORDER □ CASH

*If your application for membership is rejected, your full deposit will be returned to you.

Mail to: WPA FEDERAL CREDIT UNION

709 Brighton Road, Pittsburgh, PA 15233