I heart Michigan vacation package winner

Congratulations to Lisa P. of Diamondale – she won our “I Heart Michigan” vacation prize package.

Lisa works at Jackson Public Schools and heard about our Kids’ Fest event from our coloring sheets. She brought her kids to the event, filled out an entry form, and was picked as our lucky winner.

Lisa wins:

• 20 Lansing Lugnuts ticket vouchers
• Binder Park Zoo season passes
• Michigan Adventure tickets
• $100 to Goodrich Quality Theaters
• $75 worth of gas cards

Talk about a summer of fun.

Congratulations, Lisa!

Teen Idol locations changes due to rain

Head’s up: we’re changing the location of our Teen Idol event due to threat of rain.

Join us Friday, July 10 at 6 p.m. at the Middle School at Parkside auditorium, located at 2400 Fourth St. in Jackson. Same date, same place, just a different location.

The weather forecast isn’t looking good for Friday. Threats of rain and thunderstorms are moving our singing competition indoors.

See you Friday night!

June E-statement iPod Nano winner

Congratulations to our June e-statement iPod Nano contest winner, Rocky from Jackson.

Rocky signed up for e-statements the first day of June, as soon as he heard about the iPod drawing. He says he’s a music fan, so he’ll put it to good use.

Now our e-statements are easier than ever to sign up for, and easier to use – plus you get free copies of cleared checks with e-statements. Sign up today!

June Lugnuts winner

Congratulations to Cynthia of Jackson. Cynthia referred her friend Rebecca in June and wins four Lansing Lugnuts tickets and food vouchers for an July game.

Thanks for referring a new member, Cynthia! You, too, can win Lansing Lugnuts tickets by referring a new member. But hurry – you only have until August!

Big banks raise credit card fees ahead of law

Big banks are trying to beat the new Credit Card Accountability, Responsibility and Disclosure Act, which means more bad news for big bank credit card holders, according to the Washington Post:

Chase, for instance, will raise the minimum payment required of some of its customers from 2 percent to 5 percent of the statement balance starting in August. Chase and Discover have increased the maximum fee charged for transferring a balance to the card to 5 percent of the amount, up from 3 and 4 percent, respectively. Bank of America last month raised the transaction fee for balance transfers and cash advances from 3 to 4 percent. Card issuers including Bank of America and Citi also continue to cut limits and hike up rates, which they have been doing with more frequency since January.

Banks blame everything from decreasing credit scores to the “additional increases in the cost of credit.”

Some in Congress are fighting the rate and fee hikes, so stay tuned.

…and just a note, American 1 doesn’t charge for balance transfers.

Kids’ Fest bike winners

Congratulations to our two Kids’ Fest bike winners, Robert and Sierra.

American 1 offered an entry to win a boy’s or girl’s bike at both the Jackson and Hillsdale Kids’ Fests. Robert and Sierra were our lucky winners, and get to take home these great new Huffy bikes.

Be safe!

Pictures from Kids’ Fest 2009

We had a great time at both June Kids’ Fest events in Jackson and Hillsdale.

Head to our Flickr site to browse through pictures from both days. We were lucky to be inside during the Jackson Kids’ Fest at Parkside – Hillsdale’s event was hot, hot, hot!

Our next Kids’ Fest is taking place at Chelsea’s Timbertown Park on Wednesday, Aug. 26.

American 1 auto loan experts: here’s the proof

We pride ourselves on being “auto loan experts.” Chances are, if you need a used car, we can get you financed and into a vehicle.

But how can we prove that? Where’s the evidence of our expertise?

It’s provided by the National Credit Union Administration, the FDIC of the credit union world. If you take a look at our 5300 report (an overall report showing how many members we have, how many loans, etc.), you’ll find we have 7,215 used vehicles on our books. We have a few hundred new cars, but we specialize in used auto financing. It’s what we do best.

Now, how many auto loans do all the other credit unions in Jackson County have? Just about that many: 7,187. But that’s combined. Add them up, and all the other credit unions in town have a total of 7,187 used auto loans. We have 7,215.

So if you have an auto loan financed through a credit union in Jackson County, chances are 50% that it’s at American 1 or some other credit union. We have half of all the used auto loans in Jackson County.

Pretty cool, huh?

Some of the other credit unions have mortgages on their books, or they specialize in new vehicle financing. For American 1, though, we’re all about used cars, trucks, vans, and SUVs.

Now we have the numbers to prove it.

Branches closed for Independence Day

All American 1 branch locations will be closed Saturday, July 4 for Independence Day.

Our branches will be open during normal hours on Friday, July 3 and Monday, July 6 to serve you better.

Have a safe holiday weekend!

MSN: GAP coverage is a good idea

MSN Money’s Liz Pulliam Weston, in “Why a wrecked car could cost you,” lays out why it’s good to have Guaranteed Asset Protection (GAP) coverage on your auto loan.

Because of dropping vehicle values, what you owe on your car could be more than what an insurance company will pay you for a wrecked or stolen vehicle:

Even if you made a big down payment, you still could be upside down on your loan or lease because resale values have plummeted so quickly.

Volatility in resale prices started last year, when gas prices spiked, hurting sales and values of bigger, gas-guzzling cars, said James Clark, the general manager for ALG, which publishes the Automotive Lease Guide.

Weston also notes that getting GAP from the dealership is “probably the most expensive choice.”

We have numerous stories about how GAP has helped members regain their vehicle investment. In the end, it’s affordable protection that can help cover the cost of your auto loan if the unthinkable happens.