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Your Garden Savings Federal Credit Union account statement is now available online. To view your statement, log in at gardensavingsfcu.org and select Online Statements. |
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In this Issue Location and Business Hours Main Office* Newark Branch*
Badge-Required Locations Alcatel-Lucent* Marotta Controls* Colgate/Palmolive*
Badge-Required Locations College of St. Elizabeth** *ATM Location. |
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New federal regulations are forcing many larger banks to eliminate their free checking products. Accounts that customers had grown accustomed to being free will soon be incurring monthly maintenance charges…some as high as $8-$9 per month. At Garden Savings, no such changes will be taking place. Our free checking accounts will remain just that…FREE! Plus, our accounts are jam packed with valuable perks that will become increasingly harder to find from other financial institutions. In addition, our checking accounts are environmentally conscious. Open your new Diamond Checking account between now and Diamond Checking Features
*Diamond Checking requires Direct Deposit of a regular payroll or other electronic deposit (ACH). $100 deposit is made to the account 90 days after the account is opened provided account and direct deposit remain active. Other free checking accounts are available for non-direct deposit accounts but $100 offer is not applicable. ATM fees refunded up to $20 per month on the first day of each month provided direct deposit is active. There are no membership fees but applicant must be eligible for membership. Contact us for eligibility requirements. A $5 initial deposit to a member savings account is required. $100 OFFER DOES NOT APPLY TO CHECKING ACCOUNT UPGRADES, ONLY NEW CHECKING ACCOUNTS.
The President’s Message (back to top) Taking your car in for routine maintenance and going for regular health checkups is something that almost all of us consider a necessity. Why? Simply put, performing checkups of the things we value most is a smart idea. The more we evaluate, monitor and maintain our assets, the more we can expect from them. While taking care of your health and your cars is very important, taking care of your finances is of great importance as well. Yet all too often we fail to perform “financial checkups” of ourselves. “Financial checkups” are a great way to make sense of our personal financial situations. The best way to start the process is to review your credit report. There are numerous services (like freecreditreport.com) that will provide you a free copy of your current credit report. Upon receiving the report, you should look it over to make sure that all of your trade lines (credit cards, loans, etc.) are in fact yours and that the balances they reflect are in line with what you know you owe. In many cases, credit reports are the first line of defense when it comes to identity theft and a good credit report will save you money when you are applying for a new loan. You should get in the habit of reviewing your credit report at least annually. Reviewing your credit report is a great spring board to see areas where you can save money as well. In this erratic economy saving money is more important than ever. Think for a moment about something as simple as a credit card. A $5,000 balance on a credit card that is charging you 22% APR means you are paying a little under $1,100 a year in interest. Transferring that same balance to a Garden Savings Visa Credit Card with a rate of 8% APR means you would pay just shy of $400 a year in interest. That’s roughly $700 in interest savings over the course of twelve months – a remarkable amount of savings. That’s why it’s so important to evaluate your financial picture and determine areas that could save you money. More times than not, you WILL be able to locate significant savings. |
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Receive a $100 Deposit When You Open a New Diamond Checking Account
Garden Savings Federal Credit Union is pleased to announce the promotion of Nick Biason to Executive Vice President & Chief Financial Officer. Nick has been a part of the credit union industry for nearly three decades including the past 28 years at Garden Savings Federal Credit Union and possesses a wealth of credit union experience and financial expertise.
Garden Savings continues to teach financial responsibility to Newark youth. This past January and March, Garden Savings conducted financial literacy training to the students and staff of AmeriCorps that work in conjunction with the Rutgers Youth Education and Employment Success Center. The credit union staff who taught the class focused on managing a checking account, creating an effective personal budget, and realizing the importance of maintaining responsible credit 
and improving one’s credit score. “It’s always a pleasure to teach young people about the importance of money and finance,” said Michael Powers, Assistant Vice President of Marketing for Garden Savings. “You really see eyes light up when people realize how much money it could cost them over the years if they don’t maintain a good credit score and manage their finances accordingly. It’s a great feeling to know that we’re helping explain a process that can help people help themselves for years to come.”
As Garden Savings continues to expand our presence, keep your eyes peeled for our new television commercial on Cablevision in Morris County and Newark as well as our radio spots on WDHA and WMTR radio. In addition, you’ll be able to find advertisements for our Diamond Checking account on over 150 buses in the Newark area and poster boards in Newark Penn Station during April and May! We continue to strive to share the news of our financially solid institution with more and more individuals.
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129 Littleton Road |
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