Money Matters Winter 2020

Geneva Barnes Service Award In honor of longtime employee Geneva Barnes, who passed away in 2007, JHFCU established the annual Geneva Barnes Service Award. We strive to carry on the tradition of excellent member service by recognizing one employee each year for outstanding service and commitment to the Credit Union. We are pleased to acknowledge Datren Awkward , as our 2019 winner. L–R: Michael Mesta , President and CEO, and Datren Awkward , Support Technician The winner receives a monetary award, a plaque, and a $500 donation from JHFCU to their favorite charitable organization. A permanent plaque listing the winners hangs in the East Baltimore Branch. 2 MONEY MATTERS | Winter 2020 We Provide the Loan, You Make It a Home Thinking about buying a home? Considering refinancing to lower your interest rate? JHFCU is the place to start. Our in-house mortgage team can review your situation and help you understand your options. If you’re planning to stay in your home for a long time, or if you’re just more comfortable with a fixed rate, we offer a variety of conventional fixed-rate mortgages to suit your needs. If you know you’ll be moving in the next ten years, consider our highly competitive 10/1 ARM * (adjustable rate mortgage) program, which offers you a lower-than-market fixed rate for the first ten years, then adjusts annually. City grants and the Live Near Your Work program can put you in a home with very little cash outlay on your part. Or if you’re thinking about refinancing , we can help you take a look at your projected savings so you can see if it will benefit you. Whatever your needs, we’re here to help. And we retain the servicing of your loan which means you’ll work with us if you have a question or want to make a payment. Take the first step by calling our Mortgage Department at 410-534-4500, ext. 740 or email mortgages@jhfcu.org to get pre-qualified for a home purchase or to calculate the benefits of a mortgage refinance. *With a $250,000 loan with an interest rate of 3.250% (3.833% Annual Percentage Rate) for 30 years, your payment will be $1,088.02 per month. Payments do not include amounts for taxes and insurance premiums, if applicable; actual payment obligation will be greater. 20% down payment required or 80% loan-to-value. Adjustable Rate Mortgages are variable, and your annual percentage rate may increase after the original fixed rate period. Your first adjustment can increase or decrease up to 5% and subsequent annual adjustments can increase or decrease up to 2%. However, your interest rate cannot change more than 5% over the term of the loan (up to 30 years). The interest rate will never be less than 2.50%.