VyStar Facts December 2008

Simply Sensible Loans at VyStar - At VyStar, we want to get the word out that your credit union is financially strong and ready to lend you money at the lowest possible cost. Right now we offer the right rates and right terms to help you manage your finances and get the things you want during 2009 and beyond.

Your Credit Union is Ready to Lend You Money - VyStar consumer loans and lending services are a very important part of credit union membership and offer valuable benefits. Call us today at (904) 777-6000 or (800) 445-6289, option 3; stop by a VyStar Branch or simply apply online at www.vystarcu.org.

Save Without Risk at VyStar - VyStar offers its members a great way to build their savings. Find out more about our Certificates of Deposit, Individual Retirement Accounts and IRA Certificates, Money Market Accounts and Health Savings Accounts. Call (904) 777-6000 or (800) 445-6289, option 9 or visit any VyStar Branch.

TurboTax® Online - If you’re looking for an easy, accurate and secure way of doing your taxes, use TurboTax® Online at credit union prices. During e-filing season, go to www.vystarcu.org and click TurboTax Online on our homepage. E-file using Direct Deposit and you can get your tax refund in about two weeks or less!

Credit Card Rate Increase - Beginning February 10, 2009, the standard interest rate you pay on the following credit cards will change to: 9.90% APR - Platinum Rewards Visa®; 10.90% APR - Gold Visa®; 13.90% APR - Classic Visa/MasterCard®. The standard interest rate increase will apply to all balances except promotional rates which will remain the same.

Year-End Tax Reporting & Other Financial Statements - To conclude the year 2008, we are working to prepare all year-end tax reporting documents. By law the documents must be postmarked by January 31, 2009. IRA-holders age 70-1/2 and over or turning 70-1/2 this year to receive RMD letter. Annual Mortgage Escrow Statements mail in January.

SIMPLY SENSIBLE LOANS AT VYSTAR

At VyStar, we want to get the word out that your credit union is financially strong and ready to lend you money at the lowest possible cost.

Right now we offer the right rates and right terms to help you manage your finances and get the things you want during 2009 and beyond. Why not borrow from someone you know and can trust? VyStar has years of lending experience and works in the best interest of its members/owners. Our “people helping people” history has helped thousands of families get their first car, buy their first home and get the things they need to build their futures. Contact a VyStar Representative today to discuss your financial needs. We never forget that it’s your money.

Simply Sensible Auto Loan
Get the car you want and know that you have a loan that’s simply right for you with the best rate possible, no hidden fees and no hassles. Get a discount on your rate when you set up automatic payments for your loan. Get pre-approved so that you can walk into a dealership and negotiate on your terms.

• New Auto Rates as low as 3.75 % APR*
• Used Auto Rates as low as 5.00 % APR*

*Annual Percentage Rate is effective as of 12/19/08 and subject to change. Rate may vary based on your individual credit history and includes an Optional Rate Discount (ORD) of .25% for loans set up on automatic payment method. All payments based on the standard rate without the ORD.

Simply Sensible Mortgage
A VyStar Mortgage is simply a better deal, through and through. That’s because, as a not-for-profit credit union, your mortgage programs are designed to give you the most extras and the best service at the lowest possible cost. Find the program, interest rate and terms that are right for you and get up to $5,000 of closing costs paid.

Maximum $5,000 towards a borrower's closing costs. Does not include origination fee, discount points, prepaid interest, private mortgage insurance and funds needed to establish the member's escrow account. Not available on VA and Construction Loans. Visit www.vystarcu.org for more mortgage program details.

Simply Sensible Credit Card
VyStar credit cards are a sensible choice for members. They will give you the most extras and the best service at the lowest possible cost. Our points-earning Platinum Rewards Visa® has simple terms, no annual or cash advance fees, no balance transfer fees, and no fine print surprises. Plus, enjoy free card monitoring, protection and payment services.

All loans are subject to credit approval. Certain restrictions may apply.

Your Credit Union Is Ready To Lend You Money

Here are some reasons why you should borrow from us. VyStar consumer loans and lending services are a very important part of credit union membership and offer valuable benefits. Call us today at (904) 777-6000 or (800) 445-6289, option 3; stop by a VyStar Branch or simply apply online at www.vystarcu.org.

  • VyStar loan rates are usually lower - save money and enjoy lower monthly payments
  • VyStar loans have flexible terms to help get your payments where they need to be
  • VyStar loans offer free and easy repayment options - set up Automatic Funds Transfer Service (AFTS) on many of our consumer loans and get .25% off your current rate
  • VyStar loans have easy application with quick approval - get professional advice and service
  • VyStar loans do not have prepayment penalties or hidden conditions
  • VyStar provides valuable information, advice and other loan-related services at www.vystarcu.org
  • VyStar offers low-cost warranty and insurance programs
  • VyStar operates not-for-profit and is federally insured

Save Without Risk at VyStar

Certificates of Deposit, referred to as CDs, are a great way to build your savings without risk. Earn higher rates on your savings by investing your funds in the credit union for a pre-selected period of time. We offer terms from three months to five years. Get started now with a reasonable minimum investment of only $500.

Individual Retirement Accounts, referred to as IRAs, are one of the safer ways to diversify your retirement portfolio and boost your earnings. Consider a Traditional, Roth or ESA with competitive dividend rates and no maintenance or set up fees. Earn higher yields on higher balances with six different account balance tiers. Take advantage of our IRA Certificate program. For as little as $500, you can lock in your earning power and earn higher yields for a term of your choice. Depending on your income, tax filing status and eligibility from other retirement savings plans, your yearly IRA contributions may be fully or partially tax deductible. Be sure to consult your tax advisor.

Money Market Account is a tiered-rate program that pays higher yields than a regular savings account and gives you easy access to your money anytime you need it. The more you save, the more you earn.

Health Savings Account, referred to as an HSA, is an account that allows you to save money for health care costs and use the funds to pay for qualified medical expenses. A VyStar HSA offers tax advantages and helps you keep tabs on your medical spending. It can be used to pay for many types of qualified medical expenses such as doctor visits, prescriptions, transportation to get medical care, qualified long-term care insurance, health plan premiums when unemployed and more. For more information on qualified medical expenses visit www.irs.gov.

For assistance, call (904) 777-6000 or (800) 445-6289, option 9 or visit any VyStar Branch. Rates & program details are online at www.vystarcu.org.


TurboTax® Online - File Online at Credit Union Prices

If you’re looking for an easy, accurate and secure way of doing your taxes, this year use TurboTax® Online.

During e-filing season, simply go to VyStar’s website at www.vystarcu.org to get started. Try TurboTax Federal Free Edition for simple returns. TurboTax Online will work hard to help you find deductions so you can get the largest refund possible. E-file using Direct Deposit and you can get your tax refund in about two weeks or less!

Helpful Refund Tip: Direct deposit is the safest, easiest, and most convenient way to receive your tax refund, regardless of how you file your taxes. This year, direct the IRS to send your income tax refund electronically to your VyStar account. When setting up an electronic transaction, remember to use your entire Account Number that is on your account statement and VyStar's Routing Number: 263079276.


Credit Card Rate Increase

Beginning February 10, 2009, the standard interest rate you pay on the following credit cards will change to:
  • 9.90% APR* Platinum Rewards Visa®
  • 10.90% APR* Gold Visa®
  • 13.90% APR* Classic Visa/MasterCard®
The standard interest rate increase will apply to all balances except promotional rates which will remain the same. Savings secured credit cards are not affected by this rate change.

*APR = Annual Percentage Rate. Terms and fees on credit cards are subject to change. Loans are subject to credit approval. Certain restrictions apply. Platinum Rewards Visa points are not earned on cash advances, convenience checks or balance transfers. For details on Platinum Rewards Visa terms and conditions, go to www.vystarcu.org or call (904) 777-6000 or (800) 445-6289 for more information. MasterCard® product no longer offered as of October 1, 2004. For more rates information, visit www.vystarcu.org.

Year-End Tax Reporting & Other Financial Statements


To conclude the year 2008, we are working to prepare all year-end tax reporting documents. By law the documents must be postmarked by January 31, 2009.

Message for IRA-holders age 70-1/2 and over or turning 70-1/2 this year: You will receive a letter indicating your Required Minimum Distribution (RMD) amount and the date you are required to take your Annual RMD.

Message from VyStar's Mortgage Department: Annual Mortgage Escrow Statements will be mailed during the month of January for all loans originated prior to 2007.

VyStar Holiday Closings

January 19, 2009 - Martin Luther King, Jr. Day

February 16, 2009 - Presidents' Day

January 2009 - VyStar Facts Newsletter