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Is Now the Right Time to Refinance?

With mortgage rates at historic lows, this is definitely a question many homeowners are considering. Is it the right choice for you? Here are some key points to consider before applying.

  • The old rule of thumb that said you shouldn't refinance unless you can reduce your rate by 2 percent or more is a bit misleading. In some situations, even a 0.5 percent reduction in the interest rate could make refinancing advantageous.
  • Borrowers should consider the number of payments remaining on their current mortgage. The most benefit will come from keeping the term on your new mortgage equal to or less than the remaining term on your current mortgage. If you are getting close to the end of your current mortgage, refinancing simply for a lower rate may not save you money, especially after factoring in closing costs.
  • Borrowers should consider how long they plan to stay in the existing home. If the answer is less than a few years then the cost of refinancing may not be worthwhile.
  • Debt consolidation is another consideration. Depending on the amount of equity available in your property you may benefit from increasing your mortgage loan to pay off other higher interest rate debts. The rule of thumb is that your loan-to-value (the percentage of what you owe compared to your home's value) should not exceed 80 percent. The best way to estimate the current value of your home is to look for homes that are similar to yours that have sold within the past year. Those selling prices can give you a good estimate of what the market value of your home may be.
  • Check www.Balancepro.net to run a calculation for "Should I refinance?". For a rough estimate of closing costs in this calculation use 2 percent of the mortgage amount. (Pittsford FCU has partnered with Balance to offer financial assistance to our members).
Ready to apply?

Visit PittsfordFCU.org/apply. This is a secure site to enter your information and is available 24 hours a day for your convenience. Or you can contact the Mortgage Department at 381-3885 to make an appointment or have us analyze your individual situation. We look forward to helping our members get ahead financially.



Check Out Our Fixed Rate Mortgages!

Term: 10 Years (no points) | Rate: 3.125% | APR*: 3.125%
120 monthly payments of $9.71 per $1,000 borrowed.

Term: 15 Years (no points) | Rate: 3.500% | APR*: 3.500%
180 monthly payments of $7.15 per $1,000 borrowed.

Apply anytime at PittsfordFCU.org/apply



Manage Your Money Better Online

At Pittsford FCU we're always striving to improve service for you. That's why we're redesigning your Internet Banking homepage, which will be identified as "Home," to give you more comprehensive access to your accounts, transactions, and financial tools – all on one page.

  • Coming soon, when you log in to Internet Banking you'll be able to:
  • Review all accounts, balances, and recent transactions on one page
  • Put money back into your pocket with a new rewards program
  • Track expenses and review past spending from an easy-to-use chart
  • Pay important bills on time
  • Make quick transfers between accounts
  • Review recent and historical transactions through a new Account History Page
  • We're confident you're going to like the new homepage giving you more visibility to your accounts and control over your finances.
Getting cash back will be easy with Purchase Rewards

Another new feature will be purchase rewards. Simply log in to Internet Banking to see your exclusive cash back offers at the types of places you shop most and follow three easy steps to earn cash back rewards.

  • CLICK on the offer to activate it for your debit card
  • SHOP with your debit card
  • ENJOY cash back – deposited right into your account at the end of the next month.

Complete details are available online at PittsfordFCU.org/rewards.



Stay Connected for Better Service

Here at Pittsford FCU, we want to serve you as best we can. In order to do that, sometimes we need to reach you in a timely manner. Rest assured, Pittsford FCU respects your privacy and will not contact you unless we have important account information to communicate. With that in mind, here are a couple of tips to help us serve you better.

  • Update your contact information – Have you moved, changed your phone number or
    e-mail address? Let us know as soon as possible of any changes in your contact information so we can reach you about your account.
  • Read your Pittsford FCU mail – As old fashioned as it may sound, U.S. mail is still our primary means of contacting you.

You can update your information within Internet Banking by clicking on the main menu "Forms" link or calling us during normal business hours at (800) 836-8010 or (585) 624-7474.



Savings Bond Purchasing to Change in 2012

The Bureau of Public Debt has announced that, effective Jan. 1, 2012, Series EE and I Savings Bonds will be available for purchase only through TreasuryDirect®, a secure, web-based system operated by Public Debt. Pittsford FCU will be accepting Savings Bond purchase orders through Dec., 31, 2011. Members can continue to redeem Savings Bonds at either branch location. For more information or to make an online purchase visit www.TreasuryDirect.gov.



Shopping for a New Car?

Check Out Our Great Rates!

New up to 72 Months 2.99% APR*

Used up to 60 Months 3.99% APR*

Apply anytime at PittsfordFCU.org/apply



Relay for Life a Success

On Saturday, July 9, Pittsford FCU sent a team of walkers to Pittsford Sutherland High School to participate in the Relay For Life. The goal of the Relay was to create a world with less cancer and more birthdays. The event was an overwhelming success, as the entire community managed to raise more than $60,000. Pittsford FCU exceeded its initial goal by $3,000, for a total contribution of $5,250. This was enough to place us as the third-highest fundraising group at the event.

More than $1,885 of the total contribution was a result of donations from our campaign to "Go Green." For each separate member account on which paper statements were canceled, the credit union donated $5.00 to the Relay. A special thanks goes to the 377 members who signed up for eStatements during this campaign. The remainder of the contribution came from raffles, walker donations, and luminary sales.

The most poignant moment of the evening came when the luminaries were lit. All of the walkers completed a lap around the track to remember and reflect upon friends, family members, and loved ones who had been affected by cancer.

Special recognition goes to the team members who represented our organization for the entire 12 hours of the event (pictured above): Kelly, Brian and Audrey Scudder, Russ Devey, Chris DeCook, and VJ and Amy Kordovich. Thanks again to the generosity and thoughtfulness of all who donated money and contributed their time to make the Relay For Life such a success.



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Your savings Federally Insured to at least $250,000 and backed by the full faith and credit of the United States Government.  National Credit Union Administration, a U.S. Government Agency.