Money Matters Fall 2020

Make Home Buying More Affordable with a Grant through Your Credit Union For many buyers, the 5% down payment is the biggest barrier to home ownership. Your credit union is here to help! If you’re a rst-time buyer, or work for an educational institution or a hospital, you may qualify for a grant to assist you with your home purchase when you obtain your mortgage through the credit union. Our rst-time buyer grant offers $5,000 towards your home purchase, and our Community Partners Grant, for employees of hospitals and educational institutions, offers $7,500. Funds are available on a rst-come, rst-served basis, and are almost gone for 2020, but will be available with renewed funding in January 2021. If you think you may qualify for one of our grant programs, it’s a great idea to call now for more information and to be prequali ed so that you’re ready to buy when grant funding is available. Call our mortgage department today at 410-534-4500, ext. 740 , or visi t jhfcu.org and click on “Make an Appointment” to schedule a telephone appointment with a mortgage loan of cer. How do you qualify? You must have at least $1,000 of your own money to put down, and you must fall within certain income boundaries, based on the size of your household: Household Maximum Size Annual Income * 1 person $58,240 2 people $66,560 3 people $74,880 4 people $83,200 5 or more Call for information *Baltimore metropolitan area. Board of Directors Call for Nominations The Credit Union is under the general direction and control of a Board of Directors. The board’s overriding concern is its duciary responsibility in safeguarding the funds and other assets that the Credit Union’s members have entrusted to it. JHFCU shall constitute its board membership in accordance with the standards outlined in its own bylaws, the Federal Credit Union Act, National Credit Union Administration (NCUA) regulations, its mission statement, and its policy for board nomination. The board recognizes its responsibility to create an environment that attracts and retains quali ed directors. An individual must certify an interest in and a willingness to serve and must be able to commit the time requested for service. Open positions on the Credit Union’s Board of Directors are lled by election from the membership at the Annual Meeting, normally held in the spring of each year. At that time, a slate will be submitted by the Nominating Committee with one nominee for each position to be lled. Anyone interested in becoming a board member is invited to express his or her interest in serving the Credit Union by writing to the Nominating Committee, c/o Credit Union President, 2027 E. Monument Street, Baltimore, MD 21205. A current résumé should be included. The nominees for the 2020 meeting were previously selected and can be viewed in the Winter 2020 issue. MONEY MATTERS | Fall 2020 5