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.
Protect yourself online with a powerful password Powerful, hard-to-guess passwords are one of the best ways to protect yourself online. So, think about the passwords you use for a moment, and if they don’t adhere to these rules, you’re going to want to make some changes. • Include a mixture of letters, numbers, and symbols with no discernible pattern • Never include your name, the name of a relative, important dates like a birthday or anniversary, or any other common words or phrases • Never write down your password – if you’re worried about forgetting it, use a well-known and well-respected password keeper • Have different passwords for your various accounts • Change them regularly • Never share your password with anyone If you’d like to learn more about beefing up your cyber security and protecting your identity online, please visit foxcu.org/preventing-fraud/identity-theft-prevention/. Federally Insured by NCUA.
“I felt pressured, so I signed the paperwork at the dealer.” This is something I hear far too often. Normally, the solution to this would be to just get up and walk away, but in the current vehicle market, that gets a bit tricky. Vehicles are hard to find these days, and when you finally do find one you like, if you don’t act right away, chances are it’ll be sold if you don’t act fast. But that doesn’t mean you can’t firmly say no to financing offers – because we have your back. So, call us about a pre-approval to discuss the many loan options we have and we’ll discuss your budget, term, and what a manageable monthly payment would be. Knowing this ahead of time will help in your search when you’re trying to stick to a budget, so please consider contacting us first. Mike Pastorelli, Fox’s Auto Buying Specialist 920-993-3508 mpastorelli@foxcu.org
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Introducing Fox’s Learn N Earn giveaway. Each quarter, one lucky Fox member will win $500 for attending a BALANCE webinar. Members who tune in for the July, August, or September webinars are automatically entered and a winner will be chosen in October. Contact Fox for official rules. Good luck and have fun learning! Our educational topic for August is Raising a Money Smart Kid. Earning money, spending, and saving are important lessons children learn very early on in life. The webinar dates are: • August 9 | 12:30pm - 1:30pm • August 18 | 7:30pm - 8:30pm Registration is required: foxcu.org/calendar.
LEARN EARN
Our Fox auto loan expert explains what to do when you feel pressured at a dealership
Visit Us: foxcu.org/locations
You could win $500 for attending our webinars
Call Us: 920-993-9000
While not part of the Learn N Earn, we also offer a WHBY radio show on this same topic, August 8 from 11:00am to Noon. The presentation is brought to you by BALANCE Financial Fitness and is intended for educational purposes only and does not replace independent professional advice. Statements and opinions are those of the presenter individually and not necessarily the opinion or position of Fox Communities Credit Union (Fox). Fox is not an affiliate of BALANCE Financial Fitness.
Federally Insured by NCUA.
Make summer fun! It won’t be long until the kids are back in school, the days will be shorter, and the temperatures will start to fall, so make sure you get the most out of the rest of the summer at foxcu.org/calendar/.