We've lowered our home equity loan rates once again. Now, you can get a home equity loan from Financial Center for as low as 3.50% APR*. These loans come with the following features:

• No closing costs
• No annual, maintenance, or transaction fees
• Up to 90% of equity

Plus, once you close on your loan and you make an initial advance of at least $2,500, we'll give you a $250 Home Depot gift card.

Apply online today at www.fcfcu.com.

 *APR - Annual Percentage Rate. The interest is based on the National Prime Rate (as published in the Wall Street Journal) (currently 4.00% as of October 2008) minus 50 basis points (currently 3.50% as of October 2008) for loan-to-value (LTV) less than or equal to 90% and line of credit over $50,000. Offer may be withdrawn if you do not meet criteria, available equity and property type. Your minimum monthly payment will equal any accrued finance charges, late charges and fees during the billing period. Monthly payment will not be less than $50 of loan balance. Finance charge calculated by determining Average Daily Balance and multiplying by the Monthly Periodic Rate. Could borrow $10,000 and pay only $50 a month for the first 10 years. Minimum APR is 3.50%. Maximum APR is 18%. This offer is nontransferable. Property insurance required. Primary residence must secure credit lines (investment properties are not eligible for this product). Interest may be tax deductible, consult your tax advisor. Rates adjusted to equity position. Some applicants will not qualify. Closing cost ($250-$500) will be repaid if loan is paid off within 24 months. Must close loan and make an initial advance of $2,500 to qualify for Home Depot $250 gift card. Promotion expires 11/30/08.

Last week, Financial Center was featured in an article in the Indianapolis Business Journal. The article focused on credit unions' ability to continue to lend money to consumers during this economic crisis.

CEO Roger Youngs offered this quote, "We can argue from now until the cows come home with the bankers about what the differences are between credit unions and banks. We focus on the member, who serves the dual role of being our owner and who uses the services. We don't have to answer to anyone out of state."

Are you searching for a loan in the Indianapolis area? Financial Center can help. Visit our website at www.fcfcu.com and apply online for a loan today.

In response to this article from MSN Money...there has never been a better time to join a credit union!

If you live, work, worship, attend school, or volunteer in Indianapolis and the Marion County area, you're eligible to join Financial Center. Learn more on our website at www.fcfcu.com.

Here are some highlights from the article:

"Credit unions largely avoided offering risky mortgages, they are among the few success stories to emerge from the subprime mortgage mess."

"Because they have no stockholders to answer to, credit unions are not pressured to get involved in risky investments such as mortgage-backed securities."

"Credit unions can offer their members a better deal because any extra profits are returned to members in the form of dividends or lower fees after operating expenses and capital reserves are accounted for."

Now you can experience security and convenience with your choice of a VISA Platinum or VISA Platinum Rewards credit card from Financial Center. Both cards have these great features:

• Fixed rate
• Credit line up to $30,000
• No annual fee
• No cash advance fee
• Low cost life, disability, and involuntary unemployment insurance
• 25 day grace period on purchases
• 24/7 toll free member service
• Low 2% minimum payment requirement

Plus, our VISA Platinum Rewards credit card gives you an opportunity to earn points towards valuable merchandise and travel opportunities with every purchase.

To learn more information about these new credit cards, click here.

To apply online for your new VISA Platinum Credit Card, click here.

The RCA Dome in Indianapolis provided great memories to all those lucky enough to attend an event in the stadium. I was lucky enough to go to the 1997 NCAA Final Four, several state high school basketball finals, and numerous Colts games. It's been a part of Indianapolis for over 20 years.

In the Indianapolis Star today, an article noted that the RCA Dome will be imploded on December 20th. The dome's roof, which was deflated last month, will be used by Indy Parks and Recreation for pool umbrellas and park shelters. I thought this was a very resourceful idea.

What does this have to do with credit unions and Financial Center? Using the roof from the dome to improve the Indianapolis community with other projects is much like how our credit union operates. We return the profit that we make to our members to improve our service to them.  

We are a cooperative financial institution that is focused on improving the financial well being of our members. The profit that our credit union makes is returned back to our members in the form of higher dividend rates, lower loan rates, and improved products and services. 

While banks are concerned with keeping their shareholders happy and chasing profits, credit unions are concerned about the members they serve.

Financial Center is here to serve Indianapolis and Marion County.  Become a member today by clicking the link on the right side of this page or visit www.fcfcu.com.

If you're unable to get loan from your current bank due to the current economic situtation, Financial Center can help.

We are prepared to help you get your next auto loan, home equity line of credit, mortgage or credit card.

If you live, work, worship, attend school or volunteer in Indianapolis or Marion County, you can join Financial Center. We are a local credit union that is committed to your community that you can trust to keep your money safe.

Apply online today for your next loan at www.fcfcu.com.

Roger Youngs, Financial Center President/CEO

By now, you have all read or heard about the financial crisis that is affecting financial institutions. What you need to understand is that the institutions that are in trouble have put themselves in harm's way. They loosened the credit criteria to an extreme degree and made loans they should not have. Those loans were then securitized and the resulting investments purchased by other institutions have brought those purchasers into the problem as well.

We have to maintain constant vigil in this marketplace. Jobs are still being lost and prices are rising on every commodity and service we purchase. That being said, I can tell you that Finance Center Federal Credit Union is in extremely solid condition. Here are some reasons why your money is safe with us:

• We have not been involved with the risky types of loans that are causing the problem
• We have approximately 13% capital, well above the industry average
• We have spread our investments over a number of sources, thereby mitigating risk
• We have multiple sources of liquidity if the need arises
• Credit unions are insured by the National Credit Union Share Insurance Fund, and no depositor has ever lost a cent due to a credit union failure
• Finance Center Federal Credit Union provides an extra $250,000 of insurance, making your deposits guaranteed up to $500,000 on most accounts

Our capital position is a source of strength for us. You will probably not find a bank in the country with our level of capital, and you will find very few credit unions with that level. We have been prudent in our guardianship of your funds. We were not greedy in seeking huge returns because we knew that the bubble would have to burst at some point and those returns (and likely more) would have to be written off.

I am so confident in our ability to handle the current marketplace that I would challenge each of you to talk with your neighbors and friends about their financial institutions. If their institution cannot make the statements that I have made above, convince them that they should become a member of our credit union. With continued growth, we can bring more and better products to the market for you.

In the final analysis, that is what it is all about - our members. We are proud to have the opportunity to serve you and we will continue to do so in a prudent manner.

Kimberly Palmer from U.S. News&World Report had an interesting article this week on the benefits of joining a credit union.

In the article, Palmer notes that 90 million Americans are members of a credit union, and that most Americans are eligible to join a credit union - even if they don't realize it. She also highlights that credit unions typically offer lower rates on loans and higher rates on savings accounts.

If you live, work, worship, attend school, or volunteer in Indianapolis or Marion County, you're eligible to join our credit union. And, we do our best to bring you the most competitive rates in Indianapolis on everything from checking accounts to auto loans.

Become a member today by clicking the link on the right hand side of this page, or visit our website at www.fcfcu.com.

I've always been an avid sports fan. I really enjoy going to games and taking in the entire atmosphere of a sporting event. Living in Indianapolis, there is seemingly always a game to go to whether it be the Colts, Pacers, Fever, Indians, or Ice. if you live in the Indianapolis area, chances are that you're a fan of at least one of these local franchises. There is a certain amount of pride that comes from rooting for the home team.

An aritlce in USA Today this morning talks about how some regional banks are struggling. Several of these banks have locations in the Indianapolis area. What I found interesting from the article was where some of these "local" banks are headquartered.

• Key Bank - Ohio
• National City - Ohio
• Fifth Third - Ohio
• Regions - Alabama

Financial Center is a true Indianapolis financial institution. We've been serving this community for the past 55 years. Nearly 80% of our members live or work in Marion County. We understand the needs of Indianapolis and we provide products and services designed with those needs in mind.

If you live, work, worship, volunteer, or attend school in Marion County, consider doing business with an Indianapolis based company like Financial Center. Become a member today by clicking on the link on the right hand side of this page, or visit our website at www.fcfcu.com.

The Financial Center team was out in full force at last Friday night's football game between Carmel and Warren Central. Check out the video below of several of our staff members firing t-shirts into the stands!

USA Today reported today that annual deductibles for workers jumped an average of 29% this year. One of the main causes of the increase was a growth in the number of high deductible health plans. Financial Center can help.

If you are covered by a high deductible health plan, you can take advantage of our credit union's health savings accounts. With the money you save on premiums from your high deductible health plan, you can place that money in a health savings account.

The best part about our HSAs is that you own and control the money that you put into the account. Plus, we offer numerous HSA products so that you can choose which is best for you. Here is a list of the health savings accounts currently available:

• HSA Savings Account
• HSA Checking Account
• HSA Interest Checking Account
• HSA Money Market Account
• HSA Premium Money Market Account
• HSA Share Certificate

For more information, visit our website or call us today at 317.916.7700.

For a limited time, we're currently offering our Home Equity Line of Credit (HELOC) product with rates as low as 4.00% APR.* HELOCs are a great way to obtain funds to make home improvements, pay for tuition, or to take that special vacation that you've been dreaming of.

In addition to our great rate, we will not charge you any closing costs or any annual, maintenance, or transaction fees. Plus, we'll give you a $250 Home Depot gift card if you establish your HELOC with us.

Apply online at our website at www.fcfcu.com. 
 
*APR – Annual Percentage Rate. The interest is based on the National Prime Rate (as published in the Wall Street Journal) (currently 5.00% as of September 2008) minus 100 basis points (currently 4.00% as of September 2008) for loan-to-value (LTV) less than or equal to 90% and line of credit over $50,000. Offer may be withdrawn if you do not meet criteria, available equity, and property type. Your minimum monthly payment will equal any accrued finance charges, late charges and fees during the billing period. Monthly payment will not be less than $50 of loan balance. Finance charge calculated by determining Average Daily Balance and multiplying by the Monthly Periodic Rate.
Could borrow $10,000 and pay only $50 a month for the first 10 years. Maximum APR is 18%. This offer is nontransferable. Property insurance required. Primary residence must secure credit lines (investment properties are not eligible for this product). Interest may be tax deductible, consult your tax advisor. Rates adjusted to equity position. Some applicants will not qualify. Closing cost ($250 – $500) will be repaid if loan is paid off within 24 months. Must close loan and make an initial advance of $2,500 to qualify for Home Depot $250 gift card. Promotion expires 10/31/08.

Peter McDougall of TheStreet.com recently wrote an article about the strength of credit unions in this time of difficulty for larger banks.

McDougall writes, "Many banks are hiking fees to make up for billions of dollars in losses. Credit unions, having escaped the financial crisis, are chipping away at ther larger rivals' customer base. They offer what most consumers need: good rates, low risks and personal service."

At Financial Center, we pride ourselves on delivering superior service with competitive rates. We also have a large network of free ATMs that you can use around Indianapolis and across the country. With free online banking and bill pay, and numerous other free services, we can deliver the same offerings you would expect from a large bank...just with more personal member service.

Come in to one of our Center locations and experience the FCFCU difference for yourself.

To see the full text of McDougall's article, click here.

Becoming a member of Finance Center Federal Credit Union is easy. Prospective members can complete an online membership application, visit one of our Centers, or call us at 317.916.7700.

Membership is open to all individuals and their families who live, work, worship, attend school, or volunteer in Marion County.
 
We offer competitive deposit and loan rates along with less fees and more free services than other institutions in the Indianapolis area. We've also been serving the Indianapolis community for 55 years, and are committed to helping residents achieve their personal and financial goals through every stage of their life.

If you're not satisfied with your current banking relationship, join FCFCU and experience the credit union difference for yourself.

A recent article in the Wall Street Journal urged consumers to move their accounts to a local credit union.

Author Brett Arends of the Wall Street Journal notes that "many Americans are pretty unimpressed with the banking industry right now. Maybe it's a good time to look at an alternative - like moving your account to a local credit union instead."

Financial Center offers competitive rates on all of its lending and deposit products, and we aim to be your one institution for all of your financial needs. We also offer banking with many free services and less fees than other Indianapolis institutions.

Visit our website today at www.fcfcu.com or come to one of our Center locations to experience the Financial Center difference for yourself.

Do you know who owns Financial Center? As one of our members, you do! That is just one of the many things that make credit unions unique.

Credit unions are not-for-profit, democratically controlled, volunteer-run, member-owned cooperatives. They exist to serve their members. Unlike most other financial institutions, credit unions do not issue stock or pay interest to outside stockholders. Instead, earnings are returned to members in the form of lower loan rates, higher dividends on deposits, and lower fees.

At Financial Center, every customer is a member and an owner. You are the reason we exist.

Check out our website at www.fcfcu.com for more information.

Today, we announced a new certificate special.*

Previously we were offering a 5 year certificate for 4.15% APY. Now, we've increased the rate up to 4.50% APY! This is a very competitive rate in the Indianapolis area, and we invite you to visit one of our Centers or give us a call at 317.916.7700 to take advantage of this great offer.

We're all about Indy, and we're all about offering great rates to our members. Come experience the best credit union in the Indianapolis area today!

*APY = Annual Percentage Yield. Rates subject to change. Offer may be withdrawn without notice. Early withdrawal penalties apply. Minimum opening balance is $500. Offer applies only to funds not currently on deposit at Financial Center.

Financial Center has a wide variety of products all designed to fit your individual financial needs. One product that most of our members are unaware of is FlexLine.

FlexLine is a line of credit that you can use to pay for expenses or for overdraft protection. Sometimes an accident happens and you may forget to record a check, a withdrawal, or you just make a mathematical error in your checkbook. The great thing about FlexLine is that it will help you avoid any NSF fees if such a mistake occurs. If there is ever an overdraft, Financial Center will transfer from your FlexLine account in $25 increments.

Applying for FlexLine is easy. You may apply online at www.fcfcu.com, call Member Services at 317.916.7700, or you may use the loan by phone option on our phone system (select option 2, then option 1).

For more information on FlexLine, click here.

I recently had an opportunity to speak with Tara Turner, Financial Center's Director of Financial Literacy. Tara has spent the last year working at the credit union's first student run center kiosk at the J. Everett Light Career Center next door to North Central High School. In the coming weeks, Financial Center will open two new student centers in the Indianapolis area. One will be at the Walker Career Center next to Warren Central High School, and the other will be at Arsenal Tech High School.

How did you get started working for Financial Center?

(Tara) I started as a teller back when I was in college. I worked during my breaks in school. When I graduated from college, I worked in retail management and didn't enjoy it.  Thankfully, I was able to come back to the credit union. 

Describe your early work at the student center.

At the beginning of the school year, I would come in to the business management classes and teach a financial literacy curriculum. We'd talk about checking accounts, savings accounts, loans, insurance, and what it takes to get on a particular financial path. We'd also set up budgeting and savings plans. Students went through this class for about eight weeks.

What types of transactions or activities do students complete most frequently?

Deposits and withdrawals mostly.

Like cashing checks and things like that?

No, because I would encourage students to deposit their checks. I'd encourage students to put the money in their account since they don't have to carry their money around, and they can always come back and withdrawal the money.

What type of feedback have you received from students and teachers?

It's become such a convenience for them that when I was not there they would always ask where I had been. They love it. I have continually received calls this summer from students with questions asking about what branches they can go to, and so I think that they feel that the center is a great benefit to them. We've developed such a great relationship with the students that they know if they call myself or the credit union, that we can resolve any problem they may have. The students have just been fantastic.

Why do you think it's important for the students to learn about financial management?

It's not something taught at home. Whenever I talk to an adult about this program they wish that when they were a senior in high school that they would have been able to go through something like this to avoid some of the mistakes they made. I think it puts the students on a path that helps them avoid trouble.

What has been the most rewarding part of your job as the Director of Financial Literacy?

The relationships I've built with the students and the trust that they have in me. I think it's given the students a different perception of financial institutions knowing that we want to help them, and we want them to succeed.

CNN reported today that the average price of gas across the country declined for the 11th straight day today.

The new average...a bargain price of $3.958 a gallon.

As your credit union, we take an interest in your personal finances and how economic factors such as the cost of gas affect your everyday life. Has the high cost of gas changed your habits? Are you watching your money closer these days?