Posts Tagged 'american 1'

Don’t change Interchange: the song

I guess it would be nice!

To learn more about how Interchange works, and how it may be affected by proposed regulations from Congress, visit the Electronic Payments Coalition.

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Scam Visa calls going around

We’re getting reports of members receiving calls soliciting their Visa information from someone saying their account is going to be closed. The caller comes from an unavailable number and won’t leave a name or identify themselves.

If you receive such a call, don’t give the caller any information. If American 1 has to call you, we already have your account information and don’t have to ask. That, and we’re not afraid to identify ourselves over the phone and leave our phone number. In fact, your caller ID may list us on the display.

When you receive calls like this, simply hang up and call the credit union yourself and ask about the situation. If there is one, you know you’re calling the right people. Plus, we like to stay on top of fraud situations like this.

Staff Snowpocalypse sledding trip

Snowpocalypse Sledding - Vanessa and Katherine

Who was crazy enough to go sledding down Cascades Hill during the blizzard of 2011?

A small group of American 1 employees, that’s who.

And unlike a lot of places in town, our branches are still open to serve our members on Wednesday, Feb. 2.

Save (virtually) nothing with Bank of America’s auto loan

Susan Tompor had a great article in the Detroit Free Press about banks getting back into the auto lending business. She noted that Bank of America was offering a stellar-sounding rate on vehicles:

Bank of America has a low rate of 2.89% in Michigan on new car loans of up to 60 months. The loan has a $200 fee and the borrower must have excellent credit.

Now, that 2.89% “low” rate does sound great. But how does the math work?

Here’s an example. Let’s say we take a plain old car loan, with no money down and no trade-in, for $20,000. Pay Bank of America’s $200 fee and the rate, and you end up with a monthly payment of $383.38. In the end, you’ll pay $21,400 for that new car when the loan is paid off (we’re using our handy auto loan calculator for these numbers).

Now, take that same $20,000 auto loan to American 1, where you pay no fees but you pay a slightly higher interest rate of 3.49% at our low end. That leads to a montly payment of $385.57 – two whole dollars more expensive than BoA’s payment. In the end? You’ll pay $21,200 for that vehicle, which is exactly $200 – or the cost of that BoA fee – less in total.

Isn’t that something?

Tompor quotes a BoA representative who sounds giddy to get back into auto lending:

Doug Melton, direct-to-consumer underwriting manager for Bank of America, said the bank is optimistic about car lending in 2011 and is aiming to offer competitive rates for loans on new and used vehicles and lease buyouts.

“There are a lot of great customers out there looking for new cars, used cars and looking for financing,” he said.

“Competitive” being the operative word. The most you’ll save is $2 a month, no matter how competitive that rate looks compared with ours or anyone else’s.

Isn’t it better to do business with a local institution who charges no fees and is a phone call away when you need service?

MBP adds ‘copper’ warranty plan for older vehicles

Good news: American 1’s Mechanical Breakdown Protection (MBP) warranty is adding coverage for vehicles up to 15 years, thanks to the new Copper plan.

This means that vehicles between 10 and 15 years old (which, today, covers vehicles from 1997) can get all the benefits of a quality, top-notch warranty.

The only restrictions on our new Copper MBP plan is the age of the vehicle. That means if your manufacturer’s warranty has run out, or even if you don’t have the vehicle financed with American 1, you can still get warranty protection on your vehicle.

We have two options: a two-year plan and a three-year plan, but even if those run out and your car is younger than 15 years, you can re-up the MBP Copper plan. Check out our MBP brochure to see what the Copper plan covers (it’s quite a bit!).

The same company that covers our other levels of vehicle warranty, Mercury, is launching this Copper coverage, so you know your protection is backed up by a reputable company.

More and more Americans are keeping their vehicles longer, and the older a vehicle the more llikely it will need repairs. That’s what makes this new level of coverage so exciting.

Stop in to any American 1 branch to talk about our new Copper plan for MBP.

Winter Wonderland 2010 photos

Winter Wonderland - Exit

This past weekend American 1 employees celebrated our own night at the Winter Wonderland. We took some photos of the event on Saturday night, and boy what a turnout!

Winter Wonderland starts up again this Friday, Dec. 17 and runs through December 23. It’s free with paid entry to Nite Lites. Hope to see you there.

Recycling 75 CRT monitors

monitor recycling

Last week we recycled 75 CRT monitors that were hanging out in our pole barn and IT basement, thanks to Recycling Jackson.

We recently upgraded most of our workstation monitors to flat-screen LCDs, which use less power and take up less space (both on desks and in the recycling bin), and use less materials to make than the heavy, glass-screen CRTs. But upgrading all those monitors meant we had a bunch of old ones hanging around.

Thankfully Recycling Jackson helps local organizations and individuals recycling electronic waste (e-waste) like ours. President Steve Noble (above) met us at their drop-off site on Brown St. in Jackson, behind Home Depot, to help us with our e-waste. There’s no telling how much all those monitors weigh, but it took a lot of gloved hands to get them in the recycling boxes.

American 1’s IT department also recycled some old fax machines and computer workstations, with more on the way.