Assets: $119,563,233
Membership: 8,006
April 2018 - In This Issue:

Don't Be Dormant!
Attention, JMAFCU members! Member accounts without activity (other than earning dividends) are considered dormant after one year. Once an account is dormant, a special warning is placed on the account and a $5 dormant fee is charged each month. You will be notified if your account is in a dormant status. Therefore, it is important to update your contact information with us whenever there is a change.

After five years of inactivity, JMAFCU is required by state law to turn the funds over to the Division of Unclaimed Property of the state of last known address.

Obtaining funds from the state can be an involved process, which can be avoided if you perform at least one transaction per year. Be sure to review your statements to verify when the last transaction was made and that all transactions were authorized. For more information, please contact your local JMAFCU branch or call us at 800-581-2256.  
Need Us to Float You an Auto Loan?
There's no doubt about it - taxes can definitely take their toll on one's finances. If you need a little help footing the bill this year,  JMAFCU is here for you Just take advantage of our personal loan and enjoy:
» Rates as low as 8.75% APR* for up to 60 months!  «
Applying is easy, and our loan decisions are made quickly. So don't let taxes be the straw that breaks the piggy bank's back. Click below to apply for your JMAFCU personal loan today!
P.S. No tax bill? The JMAFCU personal loan works just as well for any other personal need!
*APR=Annual Percentage Rate.  Lowest rate may require down payment. All rates are based on evaluation of the member's individual credit history. Your actual rate may vary. All rates and terms are subject to conditions and certain restrictions may apply.  

Springtime Spruce-Up?
I s your home in desperate need of a facelift? As you probably know, renovations don't come cheap. In fact, the average kitchen remodel tops $60,000, and bathroom overhauls can cost $18,000! With some careful planning, though, you can shave thousands of dollars off these price tags. 

Here are seven ways to save:

1.) Don't do a complete remodel. 

Instead of knocking down walls, give the outdated area a fresh coat of paint, new light fixtures and some minor décor upgrades. Potential money saved: $30,000.

2.) Shop around for a contractor. 
Find someone professional, reliable and willing to give you a decent price. Check out at least three different contractors before making your decision. Ask for references and meet with each contractor in person to get a feel for their professional conduct and character. Also, be sure to sign a detailed contract. Potential money saved: several thousand dollars.

3.) Consider long-term benefits.
It often makes sense to pay more now if it'll save you big down the line. For example, if you're installing clapboard siding, you'll save in the long run by paying more for pre-primed and pre-painted boards. Using the prefinished claps means you'll need half as many paint jobs in the future. Money saved: $1,250 (for a 10×40 area).

4.) Pick decent but mid-grade materials.
When long-term functionality is not a criterion, choose the mid-grade option. One area where you'll see this at play is in carpeting. Olefin and polyester carpeting will run you $1 to $2 per square foot, while wool costs upwards of $9 to $11 per square foot. Money saved: $400 (for a 40-square-foot area).

5.) Bring in natural light without windows.
Looking to bring a splash of sunshine into your kitchen? Instead of adding a window, consider installing a "light tube." It slips between the rafters on your roof and works to funnel sunshine down into the living space below. Adding a double-pane window can run you $1,500; a light tube costs $500. Money saved: $1,000.

6.) Lend a hand.
Save big by doing some of the demolition work yourself, painting some walls or even sanding walls to prep them for painting. You can also lend a hand with the cleanup instead of hiring a crew. Money saved: $200 or more.

7.) Increase efficiency, not size.
Cramped kitchen? Don't assume you need to push out walls to make it work. Instead, reorganize your kitchen for optimal efficiency and save tens of thousands of dollars. Upgrade your cabinets with lazy susans, pull-out drawers, dividers and more. Consider hiring a professional organizer to show you how to maximize your space - you'll still save big overall. Money saved: up to $60,000.

Before making any decisions, be sure to call, click or stop by JMAFCU to learn about our fantastic rates on personal loans and home equity lines of credit (HELOCs)!
Discover Sprint's Network Reliability & Cash Rewards
The benefits of membership keep getting better.
Right now, JMAFCU members can enjoy the relia bility of Sprint's network and a $100 CASH REWARD f or
every new line they
activate with Sprint®. Plus,
get a $50 loyalty cash reward every year for every line.

You can also enjoy the reliability of Sprint's network, which now beats T-Mobile® and performs within 1% of AT&T® & Verizon.* And, enjoy a great price for fully featured Unlimited.

What you get:
  • Members get a $100 cash reward for every new line they activate with Sprint.
  • Current Sprint customers receive a $50 cash reward for every line transferred into Sprint Credit Union Member Cash Rewards.
  • Plus, get a $50 loyalty cash reward every year for every line.
  • Credit union members are eligible for 25% off accessories with Sprint Credit Union Member Cash Rewards.
How you get it:
  1. Become a Sprint customer and mention you're a credit union member.
  2. Register at
  3. Allow up to six to eight weeks to see rewards directly deposited into your credit union account. 
Sign up today to discover the cash benefits you'll enjoy with Sprint's best Credit Union Member Cash Rewards EVER!

*Claim based on Sprint's analysis of latest Nielsen drive test data for average network reliability (voice and data) in top 106 markets.

Why Choose a Credit Union?
  • I'm thinking of switching my checking account to a credit union. How is it different than using a big bank? 
  • I love my credit union, but I also have a checking account at a bank. Should I move that account to a credit union?
You're not alone. Many Americans are dissatisfied with their banks. And many of them, like you, are looking to make a switch. In fact, a Gallup poll found that as many as 74% of Americans had "some or very little confidence" in banks, while only 10% said they had a "great deal" of confidence.

As a JMAFCU member, you  will have a much more rewarding and meaningful experience. Because credit unions are member-owned and not-for-profit, they are more attuned to the needs of their members and are not driven by investors or their bottom line. Credit union members own a piece of the institution, and the revenue created through operations gets returned to members in the form of better rates, technology enhancements and more.

From the outside, banks look sophisticated and glamorous. There's all that hype, glossy advertising and flashy logos. But, when it comes down to it, those things don't matter much. What counts is how each institution will look after your money and what kind of service you can expect from them. And, while banks and credit unions offer nearly identical services and account choices, there are some subtle differences.

Let's take a look at how having your checking account at a credit union differs from using a bank for the same purpose.

1.) Account fees
To the unsuspecting consumer, big banks may not seem like money-hungry monsters. While they're happy to hold onto your money, and they might even be super-helpful in setting up your account, once it's up and running, expect to get hit with fees - just for having an account! And these fees aren't cheap. According to a MoneyRates survey, the average monthly maintenance fee for a bank checking account is $12. That's nearly $150 coming out of consumers' pockets each year!

On the flip side, many large credit unions offer free checking or make it very easy to qualify to have the fee waived. This gives you the ability to set up your account and keep it running without it costing you a dime.

Credit unions tend to have less overhead than banks, so there is less reason for them to try squeezing more money out of each consumer. Why, then, would you fork over your hard-earned money to help keep a bank profitable when you can use it to help your own net worth grow?

2.) Overdraft fees
Sometimes, you may miscalculate how much you have in your account and you'll overspend. If you make this mistake with a checking account at a bank, though, it's more than just a face-palming moment of regret - get ready to cough up those overdraft fees!

These fees are usually in the $30-$45 range, and some banks will make consumers pay the penalty for each transaction they make while their account is overdrawn.

Most credit unions understand that mistakes happen. They'll be more likely to forgive you for the occasional error. And, while some credit unions do charge an overdraft fee, on average these fees are a lot lower than what banks demand.

Why put yourself at risk of being penalized for an oversight?

3.) Fewer strings attached
Banks will happily accept your money - so long as you've got enough of it, that is. Most big banks won't allow you to open a checking account unless you have a minimum balance of several hundred dollars. In contrast, an incredible 76% of credit unions surveyed by the 2016 Bankrate Credit Union Checking Survey reported that they have no minimum balance requirements at all.

If you're looking for a place to park your money without having to jump through an endless series of hoops, there's no question here!

4.) Credit unions are government-regulated
Like banks, credit unions are regulated by a governing authority. This means a federally insured credit union, just like a federally insured bank, offers federally insured accounts up to $250,000. This means your money is protected no matter which kind of institution you choose for your checking account.
For credit union members, though, it gets even better. Credit unions actually face more restrictions on their investments and loans than banks do. This means your credit union has to be super-careful with your money. They can't make any rash decisions or investments that might hurt you as a member.
For credit unions, it's all about doing what's best for the membership.

5.) Superior service
When you're banking with family, you don't have to worry about overworked tellers, curt managers or representatives who are indifferent to your individual needs.

When you stop by your credit union, you'll be greeted with friendly, familiar faces and representatives who actually care. They're always ready and willing to help you with whatever you need - whether it's a question about your checking account, some personal finance advice or direction in a major life purchase.

They've got your back - always.

Why choose a credit union for your checking account? The answer is obvious. With lower fees, fewer strings attached and better service, it's the best place possible to park your money!

JM  Associates Federal Credit Union