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*Annual Percentage Rates (APR) are subject to change. Rate, maximum term, maximum loan amount and advance amount are based on credit qualifications. Maximum terms vary based on loan amount. We reserve the right to determine collateral value based on industry recognized guidelines or full appraisal. Must be 18 years old or older to apply for a loan. Loans are subject to all Credit Union policies and procedures. Floor rate of 1.89% applies on auto loan terms up to 60 months and 2.24% on a 72 month auto loan term. Auto loan at 1.89% APR requires a minimum FICO� 680 Credit Score. 1.89% for 60 months is $17.48 per $1,000.00 borrowed. 2.24% for 72 months is $14.86 per $1,000.00 borrowed. Offer expires December 31, 2015.
PresidentsCornerPresident's Corner
By the time you read this, the Federal Open Market Committee (FOMC) will have made a decision on the general direction of interest rates. More than likely, this committee, consisting of the Board of Governors of the Federal Reserve System and a rotating group of the twelve Federal Reserve Bank presidents, will vote to raise the overnight Federal Funds rate by one quarter of one percent.

As I have mentioned in several of my columns, the Fed only controls the one rate, the Fed Funds rate, which is the interest rate at which banks and credit unions borrow and lend to each other on a daily basis. This one rate, in and of itself, is unimportant. The critical component is the message the Fed is sending to the rest of the world as to their views of the U.S. economy.

The Fed Fund rate has not changed since December 2008, which was the depth of the Great Recession. Rather than setting a specific rate at that meeting, the Fed established a "near-zero" target range of zero to 0.25%. Since then, the FOMC has monitored many analytics, but none more important than inflation and unemployment. The committee indexed specific inflation and unemployment rates to future rate increases.

These indices, which come from various federal agencies, have created problems for the Fed. First of all, the unemployment rate has reached the Fed's goal, but inflation has not. Generally, interest rates will rise to slow down inflation, but the rate still hovers around 1%. However, there are more people unemployed or underemployed than reported, and our paychecks don't seem to go as far as they did in the recent past. There seems to be a disconnect between government statistics and the real world.

Secondly, the push for higher rates are coming from the media, which knows almost nothing about economics, and banks, which want higher rates to raise their loan rates. I think the media's preference for a rate change is so they can fill their around the clock schedules with so-called talking heads opining about what they would do if they were in charge (thankfully, they're not in charge of anything.) The banks' wanting higher rates is a head scratcher. Most bank and credit unions have too much cash and want to lend it. Higher interest rates will significantly slow down lending, especially in the real estate market.

Finally, we're now living in a global world which means the Fed has to be concerned with the value of the dollar. The dollar's value affects imports and exports which greatly affects our economy. It was easy in the old days when the U.S. was virtually the only economic powerhouse. But now with China, the European Community, and more recently South America and Africa with their vast natural resources, a small change in our Fed Fund rate reverberates around the globe.

Whatever the FOMC decides will be the subject of much discussion. The media talking heads will be at maximum volume. Presidential candidates will no doubt talk about either returning the U.S. to the gold standard or abolishing the Fed. I predict banks and credit unions will probably not raise deposit rates but probably not raise loan rates either. But don't listen to me; I retired from the prediction business years ago.

David M. Green
President/CEO
(925) 335-3802
visacashback
11% cash back on all purchases when using a 1st Northern California Visa Credit Card. Excludes cash advances and balance transfers. Rebate applied monthly to Visa Credit Card account balance. Rebate cannot exceed $10 per month and/or $120 per year. Terms are subject to change without notice.
StatoftheMonthStat-of-the-Month
With natural gas trading at historically low levels -- natural gas futures briefly dipped below $2 per million British thermal units (BTU), this chart presents the current, long-term trend of natural gas. As today's chart illustrates, the price of natural gas has been in a downtrend over the last 22 months as a result of a supply glut which could lead to the highest US stockpile since 2005 according to the U.S. Energy Information Administration. On a positive note, it's worth noting that since 1998 natural gas prices have rarely traded below $2 per million BTU and when it did, it was not for long.
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scamPhone Call Fraud Alert
A member notified us that they received a fraudulent phone call regarding our new EMV chip credit cards. The phone call sounded like a recorded message and stated that the member's debit card would be deactivated and they would have to key in their pin code to keep it active. They recognized that the phone call was a fraud and hung up. Please be aware of identity theft and do not give out any personal information, including your pin code, to incoming phone calls. Member security is a high priority at 1st Northern California Credit Union, and we ask that you notify us if you receive a similar phone call or notice any type of fraudulent activity involving your account(s) with 1st Nor Cal Credit Union.
retirement
ConveniencePackage
aggettaStay Safe During the Holidays
The holidays are meant to be a time for fun and celebration with family and friends. However, the hectic pace of the holidays can also present increased risks, such as overcrowded stores and greater opportunities for thieves to target your valuables and personal information. Here are five simple tips to help you have a safe and enjoyable holiday season:
  1. Watch Out for Porch Pirates
    Theft of packages from front porches and stoops increase as online shopping drives more home deliveries during the holidays. Take advantage of electronic delivery alerts and other protections to make sure your gifts are safely delivered - and received.
     
  2. Beware of Parking Lot Pilfering
    While you're in the mall purchasing gifts for your friends and family, thieves may be roaming through the parking lot looking to steal valuable items in unlocked cars. Shoppers should remember to always lock their doors, park in well-lit areas and hide valuables from plain view.
     
  3. Protect Your Identity, Both Online and in Stores
    Before you go shopping, think about how much information a thief would get his hands on if your wallet or purse was stolen. Avoid carrying Social Security cards, birth certificates or passports unless absolutely necessary. When shopping online, be sure to only use a secure website, log off from that site after you have completed your purchase, and monitor your bank accounts and credit card activity regularly throughout the holidays.
     
  4. Travel Safely
    The holiday season brings a number of unique driving risks. During this time of year, we have difficult weather conditions, limited daylight and drivers in unfamiliar areas. By planning extra travel time and eliminating distractions, you can help ensure safe travels during the holidays.
     
  5. Prevent a Home Fire - Use Candles Wisely
    Christmas Day, Christmas Eve and Dec. 23. are three of the top five days for home fires caused by candles. Never leave a burning candle unattended, and do not put any candles or open flames near Christmas trees or other holiday decorations that could quickly spark a fire in your home.
As an added benefit of your 1st Nor Cal Credit Union membership, we at Lou Aggetta Insurance will help you review the things that are important to you and provide you with options for reducing risk in your life. We are an independent insurance agent and can provide you with home, auto, life, health, business and many other types of insurance coverage. 
 
Contact me today to schedule your free review.
 
Denia Aggetta Shields
Lou Aggetta Insurance
2637 Pleasant Hill Road
Pleasant Hill, CA 94523
(925) 945-6161
 
Like us on Facebook at Lou Aggetta Insurance  
Follow us on Twitter @LouAggetta
fbiFBI Holiday Scams Warning
Criminals are gearing up for the holiday season with aggressive and creative scams designed to steal consumer's money and personal information. Florida ranked second in the number of alleged victims who filed complaints with the FBI's Internet Crime Complaint center in 2014, and this year the FBI Jacksonville Division is warning local shoppers to be extra vigilant of the following schemes and red flags.

Online Shopping Scams - If a deal looks too good to be true, it probably is. Steer clear of unfamiliar sites offering items at unrealistic discounts or gift cards as an incentive to purchase a product. You may end up paying for an item, giving away personal information, and then receive nothing in return except a compromised identity. In addition, do not open any unsolicited e-mails or click on the links provided.

Social Media Scams - Beware of posts on social media sites that appear to offer vouchers or gift cards. Some may pose as holiday promotions or contests. Often, these are scams that lead you to participate in an online survey that is actually designed to steal personal information. In addition, do not post photos of event tickets on social media sites. Fraudsters can use the barcode to recreate tickets for resale.

Smartphone App Scams - Before downloading an app from an unknown source, look for third-party reviews. Some apps, often disguised as games and offered for free, may be designed to steal personal information from your device.

Work-from-Home Scams - Beware of unfamiliar sites and postings offering work you can do from the comfort of your own home. These opportunities may have unscrupulous motivations behind them. You should carefully research individuals or companies offering employment before providing them with your personal information.

Consumers who suspect they've been victimized should immediately contact their financial institution, then law enforcement. They are also encouraged to file a complaint with the FBI's Internet Crime Complaint Center, regardless of dollar amount lost (www.IC3.gov).

- FBI Jacksonville, FL Division
FinancialCounselingFREE Financial Counseling
Are you in need of financial counseling?
1st Nor Cal is here to help. Timely and honest debt advice is available to our members at no cost or obligation. Learn how to manage your finances.

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Make your appointment TODAY!

Just a reminder, you can annually request FREE Credit Reports from all 3 credit reporting agencies online by going to:
For FREE Financial Counseling, don't hesitate to contact:

Shelley Murphy
Senior Vice President of Lending & Collections
(925) 228-7550 Ext.824

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