In these unsettling times, many people wonder how the financial crisis will affect them. Honda Federal Credit Union wants you to know that it has no exposure to investments in Subprime mortgages or other types of risky financial derivatives. Our ‘investments’ have been in loans to you, our members.

Unlike other financial institutions, our focus remains on Honda Associates and members of their families. And, in Honda fashion, we manage our business in a conservative manner. As of calendar year-end 2007, the loss ratio on our loan portfolio was a very low 0.25% of assets and the ratio of delinquent loans to total loans was only 0.34%. The industry average for credit unions was 0.46% and 0.88% respectively. For complete Honda FCU financial information, click HERE.

Please be assured that, for the past 40 years, Honda Federal Credit Union has and continues to be a solid and reliable financial institution for Associates and family members. If you have any concerns or questions, please contact Jim Updike, President and CEO, at jupdike@hondafcu.org

Stop dreaming of what you will do once you retire, and start saving for it.  Honda FCU has many retirement savings options, some of which have tax advantages:

Speak to a Honda FCU representative about your savings options and their tax advantages before April 15, 2010!  Call us today at 1-800-634-6632!

*Ask your tax advisor about the limits and conditions associated with tax advantages of these types of accounts.
**Income limitation for eligibility.

eRefunds – Using the Correct Data
It’s tax season, and in today’s age of technology, e-filing your taxes and receiving a direct deposit of your refund into your account is becoming a popular demand. 

Whether you file your income taxes electronically or by mail, you still have the option of Direct Deposit of your refund.  We find that many members make errors when providing their account information to the IRS.

Here are a few tips to assist you:

• Item b above: Routing Number – the 9-digit routing number can be found on the bottom left-hand corner of your checks, as part of the MICR number.  (MICR, Magnetic Ink Character Recognition strips are used by the U.S. banking system to automate check processing.) The routing number for Honda Federal Credit Union is 322275746.  (Keep in mind, this information can also be used in establishing Internet Bill Payment services through Honda FCU). 
• Item c above: Type - select either Checking or Savings.  Should you elect to have your refund deposited into your Money Market account, you would select checking.  (Please note: direct deposit of your tax refund into a secondary savings account is not permitted.) 
• Item d above: Account Number – if you’ve elected to have your direct deposit posted to your savings account, you will enter the 10-digit master account number displayed on the upper right-hand corner of your statement.  If you elect to have your refund deposited to your checking or Money Market account, use the 11-digit checking account number located next to the routing number on your checks, as illustrated below

Many members continue to use the 10- digit main Membership Account Number (which starts with a 76*** or 78***). While this number is used to identify your account within Internet Banking or Audrey Automated Teller, this 10-digit membership account number is a default to your savings account. If you have used this number in the past and you have not updated your account information, you should update it with your tax agency or you may experience delays or your tax refund may be returned back to the agency. This information also applies to all ACH debits and credits.

Should you have additional questions regarding which numbers to use, please stop by your local HFCU branch or call us at 1.800.63.Honda (1.800.634.6632).

Holiday Savings Club Account is Now Available! Open up your Holiday Savings Club Account for your 2010 wish list. By saving a set amount each pay period, you'll be able to afford everything on your wish list without paying any interest! And you'll earn 1%* above our current regular savings rate on the money you save!

To learn more or to open up your Holiday Savings Club account you can log in to Internet Banking and select eShares and open up your account online, visit your local Honda FCU branch or call one of our friendly Member Service Representatives at 1-800-63-Honda (1-800-634-6632)!

*Initial deposit of $5.00 is required to open a Holiday Savings Club Account. Save all year long. Money will be transferred to regular savings account on November 1 of each year the Holiday Savings Club Account is open. Any withdrawal from the Holiday Savings Club account prior to November 1 will result in the balance being transferred to your Regular Savings Account, and a penalty of all dividends paid from November of the previous year will be assessed. If the Holiday Savings Club account is closed or if a withdrawal is made during the month of December, a penalty of dividends paid from November of the same year will be assessed. A dividend rate of 1% above the HFCU regular savings rate and APY is paid on that portion of your average daily balance that is $2,500 or less. The regular savings rate is paid on that portion of your average daily balance that is greater than $2,500.

Gear Up for Winter with a little help from Honda FCU! Cozy up behind the wheel of a new vehicle because for a limited time you can get a rate as low as 4.75% APR* on your next vehicle loan! Whether you need to finance or refinance** a new auto, motorcycle, ATV, boat or RV, Honda FCU’s vehicle loan rates help you gear up for winter!  There’s nothing like a new vehicle to get you warm and toasty!  Check out these great benefits:

• Get a vehicle rate as low as 4.75% APR*
• No processing fee
• No pre-payment penalty
• Convenient automatic payments & payroll deduction options
• Fast and simple application process

Visit us online at www.hondafcu.org and select eLoans within your internet banking to apply online, or call one of our friendly Member Service Representatives at 1-800-634-6632, today!

Hurry, this offer will melt on January 29, 2010!

*4.75% APR is based on new or used auto loans financed for 66 months or less. The rates for auto loans range from 4.75%-15.04%. All new or used auto purchases are based on current loan rates and terms. Minimum auto loan amount is $7,500. For rates on motorcycles, ATVs, PWCs, boats, or RVs, please contact a Member Service Representative at 1-800-63-Honda (1-800-634-6632) or visit us on the web at www.hondafcu.org. All loans are based upon credit qualification. Not all members will be eligible.

** Refinance not available for existing HFCU loans.

NEW Mobile ATM and Branch Locator Service from Honda FCU!
Now from your cell phone, you can locate the nearest surcharge-free ATM and a Shared Branch by visiting us at www.myhondafcu.mobi on your phone anytime of the day, 24/7!

To find a surcharge free ATM:

• Visit www.myhondafcu.mobi
• Click on ATM locations
• Select Search Co-Op and Alliance One ATMs
• Enter a zip code, or address, city or state and hit GO

To find the closest Shared Branch, the member will need to:

• Visit www.myhondafcu.mobi
• Click on Branch Locations
• Scroll to the very bottom of the page and click on Search for Shared Branches
• Enter a zip code, or address, city or state and hit GO

You must have internet service through their mobile phone in order to use this ATM and branch locator service.  Stop paying fees to access your money and look for your nearest surcharge ATM or shared branch, today!

We have the perfect gift for your Valentine!
For the holidays, birthdays, graduations, business gifts, or other gift giving occasions, purchase and give a Visa Gift Card to show your appreciation. Accepted at any location where Visa Debit cards are accepted worldwide, the Honda FCU Visa Gift Card makes a perfect gift. Our unique design makes it special. It illustrates Honda’s innovation and technology. So, visit a branch today to purchase your special gift!

Each card can be loaded with $5.00 to $750.00, and costs $3.95. Use your Honda FCU deposit account or debit/credit card to pay for the purchase. As long as a card is registered, it is replaceable if lost or stolen. Also, once the card is registered, it can be used for phone and internet purchases. To register your card, go to www.hondafcugiftcard.org.

If you have more questions, visit our FAQ sheet here.