Dear Members,
I hope this message finds you well and thriving in this new year of 2024. As we embark on another year of serving our valued members and communities, I wanted to take a moment to reflect on our mission here at San Francisco Federal Credit Union.
At SFFCU, our mission has always been clear and unwavering: to make a positive impact on the financial lives of our credit union members and the communities we serve. This mission is at the very core of everything we do, and it guides us in our daily efforts to provide you with the financial products and services you need to thrive. Here are a few of the solutions SFFedCU is bringing to the community.
CREDIT CARDS
It's no secret that credit card debt has become a burden for many Americans, with a staggering $1.079 trillion in outstanding balances nationwide. In California alone, we rank 9th in the nation, with an average of $8,000 per person and an average APR hovering between 22% and 24%. It's clear that many individuals are in need of a solution, and we are here to offer our credit card with a competitive APR as low as 8.45%, which could truly impact someone's financial life for the better.
VEHICLE LOANS
In 2023, 15.5 million vehicles were sold across the country, contributing to a staggering $1.595 trillion in auto loan debt. With 40% of Americans having a monthly car payment, often ranging between $301 and $500, we are proud to offer auto loans with rates as low as 2.99%. It's a tangible way we can help our members secure a brighter financial future.
PERSONAL LOANS
Debt consolidation can be a lifeline for those who find themselves juggling multiple credit card bills and loan payments. In 2023, a survey by US News and World Reports revealed that 54% of individuals used personal loans for debt consolidation, leading to simplified and reduced monthly payments. Even more astonishing, 69% reported improved finances after consolidating their debt. Our personal loans, with a competitive 7.99% APR, can offer valuable assistance to those in need.
MORTGAGES AND HELOCS
Finally, for those considering tapping into their home equity or planning a move, it's essential to understand the tremendous financial opportunities at your disposal. Americans collectively hold $28.7 trillion in home equity, and in December of 2024 alone, 225,000 homes were sold in California. Our HELOCs and mortgages can provide you with the tools to leverage your home's equity or secure your dream home with favorable terms and rates.
Our products and services are designed with one goal in mind: to improve the financial lives of our members and our communities. I want to thank each and every one of you for entrusting San Francisco Federal Credit Union with your financial needs. We are here to serve you, our community, and our shared mission. Together, we can make a positive impact on your financial journey.
If you have any questions or would like to explore these opportunities please do not hesitate to reach out to our dedicated team. We look forward to assisting you in any way we can.
Wishing you a prosperous and financially secure year ahead.
Financially yours,
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