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AFCU & You Blog

Congratulations to Jenna S., winner of four tickets to Disneyland! Jenna and her family attended the AFCU Saturday Open on July 20. Her grandfather was technically the winner, but he let Jenna come to the credit union to claim their prize. Have a great time at Disneyland and thanks to you and your family for your membership!

Aerospace Federal Credit Union is waiving processing fees on First Mortgage and HELOC loan applications received by August 15, 2019!* All loans must close and fund by October 15, 2019. There are three opportunities to choose from:

First Mortgage

  • $699 in processing fees waived
  • Fee waiver available for purchases or refinances
  • Competitive low rates
  • Check current rates online
  • Low cost to members
  • Personalized service

Home Equity Line of Credit (HELOC)

  • $299 in processing fees waived
  • Keep your First Mortgage fixed rate
  • Borrow from $20,000 to $200,000
  • Spend on whatever you want/need
  • Enjoy a 10 year draw period
  • 20 year repayment period (after draw period ends)
  • No annual fees
  • Personalized service
  • Rates as low as 5.00% APR**

First Mortgage & HELOC Combo

  • $699 in processing fees waived
  • Complete both loans with a single application
  • Pay for only one appraisal
  • Less paperwork
  • Fee waiver available for purchases or refinances
  • Competitive low rates
  • Check current rates online
  • Personalized service

Call 800-795-2325 option 7 to talk with an AFCU mortgage team member!

*AFCU processing fees waived on AFCU First Mortgage loan and AFCU Home Equity Line of Credit (HELOC) applications received between June 1, 2019 and August 15, 2019. Third party fees still apply. All loans must close and fund by October 15, 2019. Offer subject to change without notice. **Rates expressed as Annual Percentage Rate (APR). Rates current as of July 1, 2019. Rates and terms are subject to change without notice.

Baby Boomers are retiring to the tune of 10,000+ employees per day. For many, this is an uncertain time. Declining health, mobility, and living on a fixed income can create some anxiety. Acknowledging and addressing these concerns can help ease their anxiety, as well as build and strengthen your relationship with your parents.

Here are four tips that can help provide support, guidance, and comfort.

1. Evaluate your own feelings and motivations BEFORE inviting your parents to talk.

Money is an emotional and often private affair. Before inviting them to talk, evaluate where you are emotionally. You may feel angered, frustrated, upset, fearful, or scared about their situation. Regardless of your emotional state, know that it is normal to be concerned about your parents aging and the state of their financial affairs. By evaluating your own feelings and motivations up front, you are more likely to be calm and collected during the dialogue.

2. Lead with a loving open invitation.

As you approach their financial situation with loving intentions, it allows your parents to see and feel that you care. Begin by acknowledging their potential roadblocks. For example, say, “I understand this may be difficult to discuss, but I care about you and want to make sure you’re financially stable during this period of your life. When would be a good time to discuss your plans and how I might be able to support you?”

3. Find the right time for the discussion

Holidays, birthdays and other family gatherings might seem like an opportune time to talk, but they are often chaotic. It is best to avoid these times and seek out a quieter occasion to discuss their financial situation. While you may want to talk about it RIGHT NOW, your parents may need time to process and evaluate their own situation before addressing it with you. No doubt, waiting for the right time may be more challenging for you than for your parents. However, in this situation, your patience can pay off.

4. Allow your parents to have control whenever possible

Watching your parents physical and mental health diminish is difficult. Most elderly parents recognize that there will come a time when they will need additional support, but they often don’t want to confront this reality. When discussing financial matters, it is critical to help them understand you are not trying to take over their life. It is an offer to help and provide support. Whenever possible, invite and encourage your parents to decide what issue to address and when. In doing so, you are demonstrating your support.

This article originally appeared on resourcecenter.cuna.org

For more articles visit our Financial Resource Center.

Click Here for Financial Resource Center

The Home & Family Financial Resource Center information is provided by Credit Union National Association (CUNA) as a service to AFCU members. AFCU is not liable for decisions or consequences of decisions made by members. Consult your tax advisor for decisions affecting your tax status.


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The information provided by Aerospace Federal Credit Union is for informational purposes only and does not constitute personal financial, investment, or tax advice. For advice on your particular financial situation, you should consult with your personal financial, investment, and/or tax advisors. The opinions and statements of authors and commenters on this Blog are not the opinions or statements of the Credit Union or the Board of Directors, and the Credit Union takes no responsibility for their content.