KeyPoint Credit Union Blog


From CEO, Brad Canfield
  • 0% Auto Financing Isn’t as Good as It Seems

    Jun 25, 2013
    Commuting into work today, how many of you looked at your dull vehicle, wondered what happened to its overall shine and decided you’re ready for a new ride? Or maybe you have spent too much money, stress, and time away from work trying to maintain your old car.
    Buying a new car sounds like a good idea right now, and it’s a great time to start planning for it. After all, Silicon Valley software engineers like to look stylish behind the wheel. The end of any month always is a good time to buy. The 2014 models will be coming out in the next couple of months, and you’ll be able to haggle with dealers over the 2013 models that they’ll want to move off the lots.

    Be Wary of Strings Attached to 0% Financing

    Undoubtedly, you’re hearing about offers for 0% financing from car dealers that are designed to grab your attention. But if you take a closer look at those offers, you’ll find that they’re not the best deals for you. There often are several restrictions attached to that 0%:
    • You must forego the manufacturer’s rebate.
    • 0% financing applies only to select vehicles.
    • You must take a short-term loan with higher monthly payments.

    Take the Rebate and Finance Through KeyPoint

    You’ll end up with a better deal if you finance your new vehicle purchase through KeyPoint Credit Union and take the manufacturer’s rebate. We’ve created a chart that shows you the difference. Despite a slightly higher APR at KeyPoint (1.99% versus 0%), you’ll actually save money over the life of your auto loan by financing through us.

    If you’re a software engineer who’s new to the country and shopping for a vehicle, go negotiate the best price for the vehicle you want and secure the financing through us. You can apply today for a KeyPoint Credit Union auto loan, even if you’re not yet a member of our credit union. Then cruise Silicon Valley and drop by a KeyPoint branch office so we can admire your new wheels.

    Go comment!
  • Rising Silicon Valley Home Prices Make KeyPoint HELOC a Great Option

    Jun 18, 2013

    At a time when many areas of the country (and even some isolated parts of the Bay Area) continue to experience sagging home values, Silicon Valley real estate is skyrocketing. If you own real estate in Silicon Valley, your home likely is worth a considerable amount of money right now as prices in general reach and exceed pre-housing bubble prices.

    The San Jose Mercury News recently published in-house research that indicates “34 of 185 ZIP codes in five counties have regained or surpassed their bubble-era peak home value or are less than 1 percent from it.” The San Francisco Chronicle’s “On the Block” blog about rising Bay Area prices noted, “Even in this super-charged market, Silicon Valley stands out as over the top when it comes to real estate.”

    Use Your Home’s Equity for Multiple Purposes

    If you’re a software engineer new to the country who purchased Silicon Valley real estate at the right time, you certainly can reap the rewards. The rising prices have some people considering selling and moving into a larger home. If you’re happy with your current home and the American-style life it affords you, now is the time to considering a KeyPoint Credit Union home equity loan or home equity line of credit. The KeyPoint HELOC allows you to take advantage of your Silicon Valley real estate value by borrowing against your home’s equity to fund renovations, make large purchases like a car or boat, pay off debt, or meet other financial needs.

    Our fixed-rate home equity loan allows you to borrow up to $500,000 for up to 30 years with competitive rates and potential tax advantage (consult your tax advisor). And if you’re taking out a new home equity loan, you can close with no fees!

    With our home equity line of credit, you can lock in a low fixed rate for the first 6 months, 3, 5 or 7 years and then you receive a variable regular plan rate as low as Prime after your initial fixed period ends. Your credit line can be as much as $500,000, and if it’s a new HELOC, you won’t pay fees or costs.

    If you’re ready to personalize your new Silicon Valley home or use your equity for another purpose, apply for a HELOC today and take advantage of rising home values!

    Go comment!
  • Special Auto Loans for H-1B Visa Holders

    Jun 11, 2013
    If you’re a software engineer who’s new to the country, life probably has changed quickly for you. As you settle into an American style life in the Silicon Valley, you’ll find you need reliable transportation along with a financial institution that caters to your needs with high-quality checking, savings and loan products.
    KeyPoint Credit Union is dedicated to helping software engineers and other white-collar professionals from India and other parts of the world who are working with our leading tech companies on their H-1B visas. We want you to get acclimated to the Silicon Valley to reduce the stress in your life.
    So we offer special auto loans just for you. If you arrived here with no credit or limited credit, you’ll find that many financial institutions won’t even consider lending money to you for a car purchase. But KeyPoint Credit Union is a different Silicon Valley financial institution, and a customized auto loan is one of our distinguishing elements.
    We provide Silicon Valley software engineers working here on H-1B visas with special loan rates and terms to help them finance the automobile they’ll need to commute to work and contribute to our local economies.
    If your credit history is lacking, don’t worry. Apply today for a KeyPoint Credit Union loan that fits your needs!

    Go comment!
  • KeyPoint Student Checking: It’s Not a Vegetable, but It’s Good for You

    Jun 04, 2013
    If you’re a teenage student or young adult in college, stop reading this now. We all understand that you are all-knowing experts on all things earthly, and unearthly. There’s absolutely no circumstance under which someone older than you would have anything valuable to say to you. No bit of helpful advice. Nothing that could ever be good for you.
    Money management? You’ve got this down pat. (Do teens even say that anymore?) After all, 87% of people between the ages of 12 and 17 claim they know at least an average amount about finances, according to a recent poll. Nevermind that 24% of those same people also think a debit card is used to borrow cash. That’s probably just faulty polling or something their friends told them to say. We get it.

    Parents Looking for Student Checking Accounts

    Instead, allow me to address Silicon Valley parents. Maybe you’re a software engineer new to the country and you believe a good student checking option would help your children understand how to manage their daily finances.
    KeyPoint’s Student Checking is the ideal solution. It’s free for those ages 16 to 26: no monthly fees, no minimum balance requirements, and accountholders can access their money from anywhere with mobile banking and online services such as bill pay. There’s also 24/7 support available by online chat or phone.
    With KeyPoint Student Checking, teens and young adults receive a VISA debit card and immediate access to more than 4,000 shared branches and more than 28,000 Co-Op ATMs nationwide with no service charges.
    Teens and young adults will learn that buying the Silicon Valley real estate they dream of starts with understanding the basic principles of money management. KeyPoint’s Student Checking is the perfect place to start, because financial education is an important part of an overall life education.
    So go talk to your kids about Student Checking. Though I suspect some have read through this entire post already, just to be defiant.
    Go comment!

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