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SOLUTIONS FA L L 2021
Fall Feels!
Preparing for the next season? The County Federal Visa
Credit Card is here for your favorite fall purchases! Shop
guilt free with no annual feels and low introductory rates.
Compare credit card options and apply online at www.sccfcu.org/credit-cards.
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Fall 2021 SOLUTIONS 1
What You Didn’t Know About Home Loans
A home loan, otherwise known as a mortgage, enables you to purchase a house without paying
the full price out of pocket at the time of the purchase.
For most people, buying a home is the biggest financial transaction of their lifetime. For that
reason, if you’re in the market for a new home, it’s best to learn all you can about home loans and
how they work before you get too deep into the process.
Here are some things you may not know about home loans:
Rates fluctuate daily
Borrowers who are eager to secure a home loan with a low interest rate may get into the habit of
checking mortgage rates as often as some people check the weather. Interest rates fluctuate every
day, which means the rate you see today may be different from the one you see when you actually
are approved for the loan.
The cheapest interest rate does not guarantee the cheapest loan
When choosing a lender, borrowers will often choose the one offering the lowest interest rate,
but this can actually be to their detriment. There are other factors to consider, including closing
costs and the lender’s policy on releasing equity for a line of credit or a loan.
A fixed-interest rate mortgage can ultimately cost you more
When interest rates are low, many homebuyers choose a mortgage with an interest rate that is
fixed throughout the life of the loan, believing it is the most cost-effective choice. This may or may
not be correct. A fixed-rate mortgage might come with higher exit fees, or fees paid to the lender
when the loan is repaid.
A lower credit score can cost you tens of thousands of dollars in interest
A high credit score can translate into tens of thousands of dollars in interest payments over
the life of a home loan. A credit score difference of 100 points can increase a monthly mortgage
payment by $150 or more, depending on the size of the loan and the interest rate.
The housing market impacts rates
While the federal funds rate will have the greatest impact on the rise and fall of interest rates, the
state of the housing market will affect it, too. Lenders need to turn a profit from their loans, which
means the higher the volume of loans they process, the less they need to earn from each one to
remain profitable. Consequently, when the housing market is booming and lenders are granting
loans on a frequent basis, they will be more inclined to offer lower interest rates to borrowers.
Get $800 You can have your mortgage payments automated
off closing Your home loan payments will likely be your largest monthly bill, and missing a payment or
paying it late can have serious consequences. Fortunately, you can avoid these scenarios by signing
costs1 up to have your monthly mortgage payments automatically deducted from your checking account.
We will help you find a County Federal home loan program that works with your budget.
Learn more at Be on your way to a County Federal home loan and get pre-approved with our
experienced home loan team.
www.sccfcu.org/
home-loans or call Content Source: CUContent
us at 408-282-0742. $800 off closing costs is available on closed loans for first lien purchase transactions of primary residences or refinance loans with an application date from
1
10/1/2021 - 12/31/2021 and closed by 01/31/2022. The $800 off Closing Costs will be applied, at Lender’s discretion, at the time of loan funding as a Lender Credit.
Santa Clara County reserves the right to cancel or modify this offer without prior notice. Excludes refinance of existing County Federal loans. Employees, volunteers
and officials not eligible.
NMLS# 415778
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2 Fall 2021 SOLUTIONS
MakingA
Difference
Join our virtual event!
You can now donate to our
2021 Teddy Bears on Patrol campaign online!
Donate now through December 31, 2021
with a team member or on our website!
For over 20 years County Federal has collected and distributed thousands of Teddy Bears during the
holiday season for local law enforcement agencies, hospitals, and charitable organizations.
All donations (minus third party processing fees) will go towards the purchase of individually wrapped bears for our partners.
4 Advantages
Content Source: CUContent
of a
1 You’ll receive the funds
in one lump sum. 2 The loan will likely have a fixed
interest rate, making it easy to
budget for your payments.
3 If the loan is used for home
renovations, the interest you
incur may be tax-deductible.* 4 The interest rate is generally lower
than rates on unsecured loans.
*
Consult with your tax advisor.
Call us today to get your HELOC options: 408-282-0700
Fall 2021 SOLUTIONS 3 I
Branch Locations & Hours
All times CORPORATE CENTER
Free
are in 1641 N. 1st St., Suite 170
Pacific Time San Jose, CA 95112
408-282-0700/800-282-6212
Webinars Almaden Branch
5353 Almaden Expressway, Suite 65
San Jose, CA 95118
Campbell Branch
Kirkwood Plaza
1638 W. Campbell Avenue
Campbell, CA 95008
East San Jose Branch
255 N. White Road, Suite 112
San Jose, CA 95127
Using Credit Cards Wisely Gilroy Branch
6915 Camino Arroyo, Suite 50
Tuesday, Thursday, Gilroy, CA 95020
October 12, 2021 October 21, 2021
Time: 10:30 am – 11:30 am Time: 5:30 pm – 6:30 pm Hours:
Monday - Friday 9 am - 5 pm
Saturday Closed
Rebuilding After a Financial Crisis Contact Center
Tuesday, Thursday, Monday - Friday 8 am - 6 pm
November 9, 2021 November 18, 2021 Saturday 9:30 am - 2:30 pm
408-282-0700/800-282-6212
Time: 10:30 am – 11:30 am Time: 5:30 pm – 6:30 pm
City Centre and West Hedding Branches are
temporarily closed.
10 Steps to Financial Success
Tuesday, Thursday, Financial Profile
December 7, 2021 December 16, 2021 (As of August 31, 2021
Assets.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $982,847,297
Time: 10:30 am – 11:30 am Time: 5:30 pm – 6:30 pm Loans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $437,352,092
Shares. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $867,474,991
Register at www.sccfcu.org/webinars # of Members. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49,861
ROUTING NUMBER: 321176972
NMLS #: 415778
BOARD OF DIRECTORS & EXECUTIVE LEADERSHIP TEAM The articles and opinions in this publication are for general
information only and are not intended to provide specific
EXECUTIVE LEADERSHIP BOARD OF DIRECTORS SUPERVISORY COMMITTEE advice for any individual. We recommend that you consult
your attorney, accountant or financial or tax advisor with
Rebecca Reynolds Lytle Peter Ng Candace Nisby regard to your individual situation. Entire publication
President & Chief Executive Officer Chair Chair ©Santa Clara County Federal Credit Union 2021.
All rights reserved.
Joe Bonacci Jose Luis H. Pacheco Lesha Luu
Senior Vice President & Chief Information Officer Vice Chair Member
Ie-Chen Cheng
County Federal: Holiday Schedule
David Indra John Tran
Senior Vice President & Chief Financial Officer Secretary/Treasurer Member
(All branches will be closed)
Divine David Deborah Baker David Indra Indigenous Peoples’ Day
Senior Vice President & Director Board Liaison
Chief Experience Officer Monday, October 11, 2021
Dave Cameron
Jennifer Montero Director Veterans’ Day
Senior Vice President &
Chief Human Resources Officer Traci Hess Thursday, November 11, 2021
Director
Thanksgiving
Juan Ledesma
Director Thursday, November 25, 2021
Day After Thanksgiving
Your savings are federally insured to at least $250,000 and backed by Friday, November 26, 2021
the full faith and credit of the United States Government.
NMLS# 415778 National Credit Union Administration, a U.S. Government Agency.
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