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Restore, Rebuild, or Relax
GET 6.5% APR*
On a Home Equity Line of Credit
Need money for home improvements,education expenses, a vacation or even a new car?
Access the equity you’ve built in your home.
If you have at least 20% equity in your home, you can take
advantage of this special offer on our Real Estate Home Equity
Access and Prime Equity Loan Programs.
• No closings costs*
• Interest may be tax deductible**
• Funds ready when you need them
• Only pay interest on the money you use
Call (770) 270-7855 or visit www.gemc.org today! *Rate based on the Prime rate as published in the Wall Street Journal as
of 3/7/06.Reduced Rate remains in effect for one year, after which it adjusts
to normal conditions of agreement. See loan agreement for complete terms
and conditions.
**Check with your tax advisor for details.
Must remain open for at least two years, with a minimum draw of $10,000.
All loans subject to credit approval. Certain restrictions apply.
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Your Credit Card:
Will you make it your friend or foe?
If
used properly, a credit card can help you establish a credit
history, provide convenience, and offer protection in case
of emergencies. However, if you fall into the trap of using
your credit card to finance day-to-day expenses or make
special purchases immediately rather than save for them,
it could cause you to fall into a pit of debt that may seem
never-ending. Consider these tips to help you use, and not
abuse, credit.
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Learn to use credit correctly early in life. By allowing
children to use their credit cards, parents can teach kids
the correct way to manage credit card spending while
they still have accountability to keep them from mounting
up debt.
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Think about the consequences. If you mount up more
debt than you can pay, your credit record will suffer. If
you are unsure if you have the discipline to keep your
spending in check, decline those credit card offers.
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All credit cards are not created equal.
Find the best rate one that will last more than a few
months. Read all the fine print that explains interest
rates and penalties.
- Beware of high fees and shorter grace periods. Be careful
to review whether a card has an annual fee, monthly
fees or penalty fees. Don’t assume you have a 25-day
grace period. Many cards offer only 15 days or less.
Continued on Page 3
President’s Letter
Dear Credit Union Member:
The leadership of GEMC Federal Credit Union wishes
to thank all of its members for their continued confidence
and support in 2005. Credit union membership holds
a unique quality like no other Ownership. Each member
has a stake in our existence as a financial institution.
Our management and staff, and most importantly our
Board of Directors take very seriously the trust you
have instilled in GEMC FCU and us. We strive each
day to live up to your expectations.
CONTINUED
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