It’s hard to believe that we are half-way through the year. As
it stands, 2008 has already been an eventful year.
We have heard a lot of talk about our economy and have seen the
dramatic changes it has had on consumers. With the downward spiral of the
housing market, a softer job market, tighter credit standards, and higher energy
prices, we have all felt the effects of the economy throughout our daily lives.
These economic concerns play a major role in the financial decisions we make now
and for the future. However, according to Ben Bernanke, the Federal Reserve
Chairman, "We may see somewhat better economic conditions during the second half
of 2008, reflecting the effects of monetary and fiscal stimulus."1
Despite what goes on in the economy, you can be assured that
we’ll continue to work hard in your favor and offer you the best. GECU is more
than just a place to save and borrow money; we offer you alternative solutions
to help manage your finances. One such solution is
online financial calculators. These
calculators help you plan, decide, and prepare for your financial needs and
goals. A great example of a powerful calculator is the
"Credit Card Payoff"
calculator. This calculator shows what you will need to pay off your credit
card balance and what you can change to meet your repayment goals; it develops a
plan to help you pay down your debt in a time that is convenient for you.
Managing your finances goes beyond keeping a simple budget; it
also includes making smart decisions and watching out for "too good to be true"
offers. With the changing economy, this is especially true when it comes to
borrowing money. There are many institutions that charge loan fees for applying,
processing the documents, and paying a loan off early; all to earn more income.
Often, these fees are hidden in the fine print and before you realize it, your
loan is costing you more than it should. At GECU, we believe "it’s your money
and you should keep it." All of our consumer
loan products offer: NO application fees, NO processing fees, NO prepayment
fees, and NO pre-approval fees. As with any business, there are costs associated
with the services we offer, however, the difference is, we don’t over inflate
them to generate excessive income!
As we try to handle the hardships of the economy, know that we
are working to make things easier for you by offering resources to assist you
with your finances. As your financial partner, we will continue to look out for
your best interests by providing great products, services, and personal service
to help you achieve your financial goals. Have a wonderful year and thank you
for your trust in us!
