FoxFacts Newsletter August 2022 Is your home equity ready to fund your big projects? Are you taking full advantage of your home’s equity? If you’re not, you could be missing out on an important funding source for big projects, vacations, and unexpected expenses. But first you need to know how much equity you have in your home, which is easier to figure out than you might think. All you need to do is take 90% of your home value, subtract the outstanding amount of your mortgage, and that’s your potential line of credit. For example, if your home is worth $100,000 and you have $50,000 left on your loan, then: $100,000 x 90% $ 90,000
Your home’s value x 90% 90% of your home’s value
$90,000 - 50,000 $40,000
90% of your home’s value - $ Amount left of your loan Potential line of credit
To start taking advantage of your home equity, get in touch with us at 920-993-9000 or visit foxcu.org/home-equity-line-of-credit/. And if you’re a homeowner who needs money quickly but you don’t have much equity in your home, check out the unsecured It’s About Time Homeowners’ loan at foxcu.org/abouttimeloan. Home Equity Line of Credit is a variable rate loan. Annual Percentage Rate (APR) may change after account opening, based on Wall Street Journal Prime Rate plus a margin stated in your original home equity line of credit terms agreement with a floor rate of 2.50% APR. Maximum APR is 18%. No charges accrue until funds are advanced. Available draw period for advances is during the first 15 years. Minimum disbursement $500; minimum line of credit $5,000; minimum payment of interest-only or $100.00, whichever is greater. Appraisal may be required if fair market value does not support loan request. Member is responsible for appraisal if required. Closing cost ranging from $214.50 to $796.50 . Must be primary residence and property insurance is required. Loan rates vary based on creditworthiness, qualifications, and collateral. Additional fees may apply. Loans are subject to final credit approval. Membership required. Consult a tax advisor regarding deductibility of interest and fees. Rates, terms, and conditions are subject to change at any time.
Fox Communities Credit Union deposit accounts are Federally Insured by NCUA.
Get bonus uChoose® Rewards points when you pay for your vacation with your Fox credit card through September 15
New headquarters We’re happy to announce our new headquarters located at 2201 E Enterprise Avenue, Appleton. This location will be available to accommodate our members but will not offer drive thru services.
Chris Allen, CEO and President of Fox Communities Credit Union, states, “We have been searching for a new administrative office for years and wanted to be very mindful of our member-owners at the same time. So, when the opportunity to purchase this existing location was presented, we felt it was a perfect fit. As a not-for-profit cooperative owned by our members, this new location allows us the ability to fulfill our growing membership service needs and be respectful of our member-owners at the same time.”
Do you see travel in your future? Make summer fun happen while you still can and receive three bonus points* per every dollar spent (up to $2,000) when you make travel purchases** (flights, car rentals, hotels, and restaurants to name a few) with your Fox credit card August 1 through September 15. Normally, cardholders receive one point for every dollar spent, but this special promotion increases that value to four points for every dollar spent. Points can quickly turn into rewards when you register your Fox credit card for uChoose Rewards at uchooserewards.com. Redeem points on the stuff you love, like gift cards, electronics, cash back in the form of statement credit, and so much more! Check out the uChoose Rewards interactive catalog or apply for a Fox credit card at foxcu.org/visa-credit-card/. *Card must be registered to redeem points. Bonus point incentive only valid on travel purchases between the dates of August 1 to September 15, 2022. Restrictions may apply. **Reward points earned on qualifying net purchases ( purchases minus returns and/or other related credits). Reward points are not earned on cash advances, balance transfers, unauthorized or fraudulent charges or for fess of any kind on your card account. For additional details, terms and conditions visit uchooserewards.com. uChoose® Rewards is a registered trademark of Fiserv Inc. Participating retailers subject to change. All other brand, product(s) and service names and logos are marks and/or trademarks of their respective owners.
Last chance to double your donations to the Fox Cares Foundation There are only a couple weeks left to have us match your donations for the Fox Cares Foundation, whose mission is to end homelessness, fight hunger, and provide access to the arts throughout our communities. We’re matching all donations to the Fox Cares Foundation up to $25,000 through August 14. Learn more about the Foundation at foxcares.org. Fox Cares Foundation, Inc. is a Wisconsin nonprofit corporation with 501(c)(3) status effective June 21, 2016. While Fox Communities Credit Union (Fox) actively supports Fox Cares Foundation, Inc. the entities are neither legal affiliates nor subsidiaries of each other. Fox Cares can make no representation with regard to deductibility of any contribution. Please speak with your tax advisor regarding the tax implications of any charitable contribution to Fox Cares Foundation, Inc.
Our former corporate office at 3401 E Calumet Street, Appleton, will continue to function as a full-service branch location. The business lending/deposit services teams, along with financial planning representatives, will remain at our Calumet Street location. This year we become 85 years strong and serve more than 115,000 members with twenty-three branches and 450 team members throughout Northeast Wisconsin.