Chairman's Corner
Managing Your
Money in a
Volatile Economy |
by Gregory P. Polonica
What Will You Do with Your Rebate?
In February, President Bush signed
legislation designed to help spur the
economy. As a result, millions of taxpayers
will receive rebate checks starting this
spring. The hope is that consumers will
spend money and help boost the economy.
However, you might want to consider
saving at least a portion of your rebate
check in your emergency savings fund
for the unanticipated expenses that
we all experience from time to time. Visit
www.jfcu.org for our latest savings rates. |
Headlines about the economy – seesawing stock prices, increasing unemployment,
and a depressed housing market – may make you understandably nervous. Some
economists believe we may be inching toward a recession; others feel we are already in
one. On the other hand, Federal Reserve Chairman Ben Bernanke said in February that the
economy – although in some danger – was unlikely to slip into recession this year, thanks
to rate cuts and the economic stimulus package. |
How much a temporary weakness in the
economy will affect you depends on a
number of factors. For some, it's up
close and personal – downsizing, layoffs,
and negotiated pay cuts may affect
those employed in various organizations.
Investors, including those whose money is
in retirement and/or college savings plans,
may be dealing with the shock of declining
account balances. Some homeowners are
struggling with rising mortgage payments,
and all of us are faced with higher gasoline
prices and home energy costs. Even if you
aren't feeling a financial pinch, the thought
of a recession can make you uneasy.
Look to Justice
The good news is that your Credit Union
is dedicated to helping you make the
most of your money. We can save you
money on loans with rates that are always
competitive and often lower than a
traditional bank. Justice FCU pays high
dividend rates on savings, money market
accounts, and certificates, so you'll earn
more on your savings. We also offer free
checking products, free online banking,
and free Web BillPay.
If you're looking for a home, Justice FCU
has eliminated the mortgage application
fee for online and mailed applications. Plus,
JNA checking account holders with direct deposit |
receive a .25% discount on new
purchase or refinanced first mortgage loans
with us.
If you have several store credit cards
and other consumer loans, you may
want to consider consolidating your debt
with a home equity loan or line of credit.*
You could end up with a lower monthly
payment and save hundreds or even
thousands of dollars in interest charges.
Trouble making mortgage loan payments?
Don't hesitate to contact us. We may be
able to restructure your loan to make
payments more affordable.
Save Now for Peace of Mind
Regardless of where the economy is
headed, Justice FCU can help with
the products and services you need at
competitive rates, whether it's a savings
account to cover emergency expenses or
a signature loan to help get you through a
tight spot. Remember, your Credit Union
is here to serve you, its member/owner,
not make a profit for shareholders. So take
advantage of all Justice FCU has to offer.
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