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Safe, Sound, and Smart

You work hard for your money so the last thing you want to do is worry about its safety once it's deposited into your account. Amidst challenging economic times, members have voiced some concerns about the security of their credit union accounts and the level of insured funds in reaction to news media stories reporting that only FDIC-insured institutions are safe. On the contrary, your credit union is secure and strong. It's important to remember that your credit union is fully covered by federal insurance, is healthy and well-capitalized, is not part of the subprime mess, and is a safe harbor for your savings.

In fact, credit union members' funds are federally insured to a minimum of $250,000 and certain retirement accounts are insured up to an additional $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency backed by the full faith and credit of the U.S. Government. NCUA account protection is identical to the Federal Deposit Insurance Corporation (FDIC) protection. Overall, credit unions are well capitalized which means they are able to weather problems caused by the current economic environment.

Steering clear of the subprime mess and noted for lending responsibly, credit unions generally did not get involved in the subprime mortgage loan market, unlike other financial institutions. However, with soaring gas prices and higher cost of living expenses, people are struggling to make payments on loans above and beyond their mortgage because of our troubled economy. So, credit unions throughout the country have kept with sound lending practices for members.

Savvy money management can make all the difference in uncertain times. Therefore, credit union members can benefit by learning more about the guidelines provided by the NCUA on structuring accounts to maximize the amount of insurance received. For more information, visit the NCUA share insurance website at http://www.ncua.gov/ShareInsurance/Index.htm or call the NCUA Insurance Call Center toll-free at 1-800-755-1030, extension 1. Operating from 8 a.m. to 6:30 p.m. (EDT) Monday through Friday, they have insurance experts available to answer questions about the coverage provided by NCUA share insurance.

Operating as not-for-profit cooperatives credit unions typically offer higher savings rates than banks. See for yourself by visiting http://www.creditunion.coop/ratedex.php. In fact, did you know that consumers nationally saved $10.9 billion nationally last year by using credit unions rather than banks? The savings come in the form of lower fees, higher savings rates and lower loan rates. That works out to about $126 per credit union member or $239 per household. So, in addition to being a safe and secure place for your money, your credit union is also a financially smart choice.

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We figure a lot of you out there are probably thinking about getting away from it all somewhere before the summer's over . . . and wondering how to pay for it. Likewise, many of you are probably looking ahead to the day you'll send your kids back to school . . . and wondering how to pay for it.

Whether you need a Vacation Loan or a Back-to-School Loan, your credit union is ready to help. Either way you get the same great rate: As low as 8.9% APR* for a 12-month term with a limit up to $3,000.

Remember, when you get a loan from us, you're not enriching some stockholders you'll never meet. You're strengthening an institution that you co-own with your fellow members — an institution that exists for your financial benefit. So make sure your next loan is a Perry Point FCU loan. Apply online today.

*Annual Percentage Rate is based upon the credit history of the member. The rate stated is the lowest rate in effect as of June 17, 2009. Not all members will qualify for this rate. Rate includes a .50% discount for automatic payments (direct deposit, payroll deduction, or automatic transfer from a PPFCU savings or checking account). Sample monthly payment for $3,000 for twelve months at 8.9% APR is $262.24.

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If you're planning to visit one of the area's theme parks this year, we can save you a lot of money. We have discount tickets to the area's most popular amusements such as Dutch Wonderland; Hersheypark; Paramount's Kings Dominion; Sesame Place; Six Flags America; and Six Flags Great Adventure. We have discount coupons for Dorney Park and Wildwater Kingdom.

This year we also have discount tickets for the Maryland Zoo in Baltimore; the Maryland State Fair; Medieval Times Dinner and Tournament; and discount movie tickets for Regal Cinemas; Edwards Theatres; and United Artists Theatres.

For a current price list, click here.