Stories as of December 22nd, 2008 Special LLCU Member GM & Chrysler Discounts (Dec. 22nd, 2008) FHA Insured Mortgages - Today's Financing Choice! (Nov. 20th, 2008) Beware of Phone, E-mail and Text Scams! (Oct. 24th, 2008) Your Money Is Protected Up to $500,000 with LLCU! (Oct. 5th, 2008) 0% Auto Loans - Are They Always a Good Deal? (Oct. 24th, 2008) Buy Your Savings Bonds On-Line Sponsorship and Donation LLCU Request Form On-line License Plate Sticker Renewal

LLCU Partners with GM & Chysler to 'Invest in America' and Offer Member-Exclusive Discounts December 22nd, 2008 - Land of Lincoln Credit Union has teamed up with GM and Chrysler to help our members Invest in America. All eligible current and new credit union members have the unique opportunity to get a great discount on a new vehicle from GM or Chrysler. While the discounts vary depending on which vehicle you choose, everyone will drive away with a great deal. Depending on your choice, you could save up to thousands of dollars. The deal gets even better when you finance your vehicle with us. Thanks to our low loan rates, your savings will quickly add up. And you’ll be doing your part to help the local economy when you buy an American-made car and finance it through us. Start driving your discount today! For more information on Invest in America, visit www.lovemycreditunion.org.

November 20th, 2008 - Land of Lincoln Credit Union has added FHA loans to its mortgage products and services! Federal Housing Administration financing, or FHA, federally insures mortgages made by approved lenders to eligible consumers. Eligibility requirements are simple – just have a valid social security number, lawful residency in the US and be of legal age to sign on a mortgage. Most counties in Central Illinois are limited to a maximum mortgage of $271,050.00 and those funds can be used to purchase or refinance a home. The following are just a few of the benefits of FHA financing: Low Down Payment Requirements – The minimum down payment for another loan at LLCU is 3 ½ %. Those funds can come from a gift, savings, sale proceeds, secured loans or 401k. Easier Credit Standards - Perfect credit is not required for an FHA loan. In fact, if you’ve had a bankruptcy, it’s probably easier for you to get an FHA loan than a conventional loan. Lower Cost – FHA loans offer competitive interest rates because the Federal government insures the loan. You should compare an FHA loan with other types of loans. Easier to Qualify – Because the FHA insures your loan, lenders are protected from substantial losses; thus, lenders feel more secure with the loan and can even offer lower, long-term interest rates. Refinancing Options Available – If you currently have an adjustable rate or balloon mortgage, a fixed-rate FHA refinance could help save you a lot of money by not only stabilizing your monthly payment, but also by offering a typically better rate than most subprime loans. With increasing regulations on conventional mortgages a possibility, an FHA Mortgage may be the answer to your home financing needs. For more information, contact Cyndi at our Mortgage Center at the newly expanded Oakland branch at 217-875-1300. Return to Top

Beware of Phone, E-mail and Text Phishing Scams! October 24th, 2008 - Recently, Land of Lincoln Credit Union has been the victim of numerous fraudulent phone, e-mail and text messaging phishing scams. As of this date, the fradulent calls seem to be attacking Cingular phone service users. These phone calls, e-mails and text messages are for the sole purpose of obtaining sensitive account information. Also, please note that scammers typically are tareting weekends and nights so that you cannot contact the credit union directly for verification. Always remember, that if you are unsure of whether someone asking for your information is legitimate, you should contact Land of Lincoln Credit Union by phone or by our e-mail address at llcu@llcu.org before giving out any of your personal financial information. Remember, Land of Lincoln Credit Union will never send out e-mails or text messages or call requesting account information. PLEASE DO NOT RESPOND, DOWNLOAD or GIVE OUT ANY ACCOUNT NUMBERS OR PIN NUMBERS INCLUDING YOUR DEBIT AND CREDIT CARD NUMBERS. Types of phone, e-mail and text message requests being circulated can include: Complete a survey and receive cash. Your accounts or cards have been suspended. Security departments are requesting you verify your current account information. Our on-line banking will be down; please confirm your account data. Cell Phone Users Should Be Wary of Unsolicited Text Messages. Such messages should be deleted and all deleted text messages should be removed, if possible, as the perpetrators have been know to use Spyware in conjunction with their text message solicitation. Again, Land of Lincoln Credit Union will NEVER solicit account information by way of a phone call, e-mail or text message correspondence. Return to Top

Your Money Is Protected up to $500,000 with Land of Lincoln Credit Union, the NCUA and ESI! October 5th, 2008 - The worsening economy and the banking fallout from the subprime lending crisis is all the media is talking about these days. Worries about recession, higher costs of living and rising unemployment rates have everyone on edge. When stalwart financial institutions like BEAR STEARNS, INDY MAC and WACHOVIA haven’t even been able to weather the storm, many of us have to be wondering - how safe is my money right now? Recently, the federal government has attempted to step in and help the economy with a $700 billion bailout plan. One of the stipulations of this plan is to temporarily increase the federally insured dollar amount from the FDIC and NCUA from $100,000 to $250,000. As of today, the $700 billion Rescue Plan has passed. With the increase in insurance, banks, credit unions and the government can worry a little less about causing massive withdrawals from financial institutions and hopefully avoid any more economic turmoil. But, what exactly does this mean for you? Well, in the simplest terms, it means that your money is very safe in the financial institutions in which you have chosen to hold funds. Touted by Suze Orman on the Oprah Winfrey Show recently, banks and credit unions insured by the FDIC and the NCUA protect your money and give you a little more piece of mind. Of course, how much and which funds are protected can vary depending on the types and combinations of financial products that you have. For more information, check out the FDIC’s and NCUA’s websites at www.fdic.gov and www.ncua.gov (or check out the NCUA's Share Insurance Tool Kit), respectively. LAND LINCOLN CREDIT UNION (LLCU) offers its members the comfort of both the NCUA and private insurance (ESI). Private deposit insurance works much like the FDIC and NCUA to insure your funds. Few banks and credit unions opt to offer both of these assurances to their customers and members. This means that you are covered not just by the current $250,000 by the NCUA, but an additional $250,000 by our private deposit insurance provider ESI. That’s a total of $500,000 in coverage because of the $700 billion bailout proposal increase. It’s a 100% difference in coverage than you might see from other banks and credit unions. For most of us, we really shouldn’t have to worry about the money that we have placed in banks and credit unions. The government and private deposit insurance companies assure you that your money is primarily safe. However, if you’re unsure about how much your financial institution covers, make sure to give them a call or check out their web site for more information. In the days when a company as reliable as FREDDY MAC can collapse, it’s better to be safe than sorry. Return to Top

 

0% Interest Vehicle Loans - Are they a Good Deal? It looks like car manufacturers are offering 0% financing en masse on their vehicle loans. But is it a good deal? To find out, read the article below provided by articlebase.com. Finding 0% Interest Auto Loans by Joseph Kenney Car advertising shows that hot brand new car just begging you to buy it. The ad also says the dealer will give you 0% financing on it. Is that a good deal? Here is what you need to know about 0% financing on your auto loan. Car dealers are out to make money - like any business. This means that they have to work to constantly get a new turnover of clients all the time. 0% financing is just one of many tools used to get the general attention of the public so that they will come and take a look. And if you are wondering - yes, there is a catch that may make their more regular offers a little more enticing - once you understand the actual offer. Since everyone likes to think they can get something for nothing - it works to draw people to their car showroom floors. This ends up actually being an either/or situation. 0% financing allows you to make a quick discount on your car financing but only under certain conditions. For instance, in most cases it will require that you pay for the car in three years or less. This causes there to be a pretty hefty monthly payment - even without the interest. In fact, the payment on this kind of auto loan may be still be more than $100 to $150 higher than another loan - even with the interest added! Other possible subtractions from the new vehicle price most likely will not be allowed. Rebates and other dealer incentives may not be added to the deal on a 0% financing auto loan package. This places you in a position of having to make a choice. You can either get the 0% financing or the package that has the interest plus the possibility of rebates and other offers. In order to see which deal will work best, you need to do some searching and find auto loan calculators. These will quickly enable you to see the difference between the two loans, enabling you to see which on will best fit your situation. Some offers require that you also need to put down up to 25%, in order to qualify for the 0% auto loan. This is a pretty steep price - but certainly there are those who can afford it. With this kind of "deal," however, many people will not even care to qualify. If you are looking for a low monthly payment, then the choice seems to be rather obvious - 0% financing is probably not for you. For others who can afford it, it can be a great way to have the car paid for in a short time - without interest (or incentives). Before you do any financing for an auto loan, however, it is always a good idea to shop around and get pre-approved (apply on-line here). Someone else may have a better deal and you do not want to pay more than is necessary for your new car. Get several quotes, do the calculations, and compare them carefully to find your best deal. Return to Top

Buy Your Savings Bonds On-Line Instead of Making the Trip to the Credit Union September 29th, 2008 - Savings Bonds offer a safe investment for conservative investors! U.S. Savings Bonds are fully backed by the U.S. Treasury and are guranteed to never lose their initial investment. Plus, you don't pay state or local tax on the interest your bonds earn. Land of Lincoln Credit Union is no longer selling U.S. Savings Bonds directly in their branches, but you can purchase them on-line by visiting www.treasurydirect.gov/ or simply click on the button below. The site also provides current rates, specific product information, FAQs and directions for purchasing U.S. Savings Bonds and other Securities. If you have any questions, please feel free to contact us at llcu@llcu.org for more details. Return to Top

Land of Lincoln Credit Union receives dozens of requests every month from wonderful community organizations asking for sponsorships and donations. We love to help in any way that we can, but sometimes its hard to make sure that each and every request gets the attention it deserves. To help us with this, we have developed a short application for you and your organization to complete to be considered for sponsorship. We realize its an extra step, but it really does help us in getting the funds or donations that your organization needs. For the LLCU Application and Sponsorship Donation Form and our guidelines, please click here. For any questions, please feel free to contact us at llcu@llcu.org for more information. Thanks for making it easier by helping us help you! Return to Top

  

Illinois License Sticker Renewals Land of Lincoln Credit Union is no longer offering license sticker renewal at our branches for our members. However, the state of Illinois has provided an on-line site that allows you to complete everything over the internet. To visit their site and renew your license sticker, please click on the link provided below: For any questions, please feel free to contact us at llcu@llcu.org for more information. Thanks for making it easier by helping us help you! Return to Top