THE CURRENT: SPRING 2025
Loan or Line?
Decode the Mystery of Home Equity
For homeowners, your house isn't just a place to call home and put down roots—it can also be a powerful financial tool to have in your belt. There are two common ways to leverage the value of your home through Home Equity: Fixed-Rate Loans and Lines of Credit. Choosing the right option depends on your unique financial situation and needs.
Fixed-Rate Loan
Allows you to borrow one lump sum of a set amount against the equity in your home. The loan features a fixed rate, meaning your rate won't change, and a set repayment period.
Pros:
- Predictable monthly payments make budgeting easier
- Rate won't increase
- Typically lower rates than personal loans or credit cards
Great for: debt consolidation, large one-time expenses on home improvement, medical, and emergencies.
Line of Credit
Approved to borrow up to a set amount of your equity and have regular access to those funds throughout the "draw period," followed by a repayment period. The rate is variable, meaning your rate may change based on the current prime rate.
Pros:
- Borrow only what you need
- Interest accrues only on funds you use
Great for: debt consolidation, large ongoing expenses, recurring medical expenses, and tuition costs.
Both home equity loans and HELOCs are excellent ways to use your home's equity to your advantage. Be sure to talk with our mortgage experts by stopping into your local branch, calling us at 616-261-5657, or email MortgageTeam@communitywestcu.org to find the best option for you!
Empowering the Next Generation
April not only kicks off Financial Literacy Month, but also Youth Month in the financial industry! At CWCU, we believe teaching kids and teens about money is one of the most valuable lessons they can learn–and it's never too early to start 'Money Talks.' From understanding the basics of saving to creating smart spending habits, financial education helps set them up for a lifetime of success!
We all know good financial habits don't form overnight–they're built over time. That's why we are committed to helping young members learn, grow, and take control over their financial futures with:
- Youth and Young Adult Accounts: offer a unique blend of financial education and practical experience.
- First-Time Car Buyer Loan: programs tailored to fit new drivers with a fixed rate and consistent monthly payments.
- Tuition and Laptop Loans: to support local students, we offer tuition options along with a laptop loan geared toward getting students connected faster!
To celebrate, we're offering special activities, giveaways, and learning opportunities for kids, teens, and parents throughout April! Stay tuned to our social media accounts and emails for more details on how you can participate. We're excited to work together to create financially confident future generations.
When Your HSA Needs a Booster
Looking for a safe and smart way to grow your Health Savings Account (HSA) funds? An HSA Certificate of Deposit (CD) could be the perfect solution!
An HSA CD combines the benefits of an HSA with the stability of a CD. Designed for individuals with high-deductible insurance plans, it offers higher fixed interest rates for a set term, ranging from months to years. HSA CDs provide a secure way to grow healthcare savings without market risk, ensuring financial stability for future medical expenses.
Don't let your HSA funds sit idle— put them to work with a high-yield HSA CD! Contact our team to learn more about our rates and terms!
*APY = Annual Percentage Yield. Rates subject to change. A penalty may be imposed for early withdrawal.
Spring Into A New Ride!
As the days get longer and the temperatures continue to rise, there's no better time to refresh your ride! Whether you're looking for something more fuel-efficient, need extra space for long road trips, or are just ready to upgrade your daily drive, now is the perfect time to spring into a new ride!
At Community We4st, we believe in putting our members in the driver's seat with affordable and flexible financing, personalized service, and a stress-free loan process. We make financing your next car easy with:
- Low rates to keep your payments affordable
- Flexible terms to fit your budget
- Refinancing options to lower your current rate
Ready to hit the road? We're sweetening the deal with two offers! Cruise off and cash in with 1%* cash back on auto loans, PLUS, don't pay for up to 90 days**!
*Loans subject to credit approval. Only in-house purchases or refinances from other financial institutions eligible for cash back offer. Existing CWCU auto loans not eligible. Must qualify for membership. $500.00 maximum cash back offered, calculated on total amount financed. Must make first payment before cash back will be deposited into your CWCU savings account. Offer may be combined with 'Up to 90-Day No Pay' promotion. Cash back may be subject to IRS reporting. Offer subject to change without notice.
**Offer valid 02.03.2025. Subject to credit approval. Offer valid on in-house purchases or refinanced from other financial institutions. Existing CWCU auto loans not eligible. First payment due date will be maximum of 90 days from date of signing. Interest will accrue from date of signing. Offer subject to change or end any time.
Secure Your Future with SBC Financial
Social Security | Estate Planning | Taxes in Retirement | Will & Trust
Stop in or call your local branch to schedule a complimentary appointment with SBC Financial!
In the Community
Strengthening Our Community, One Initiative at a Time
At CWCU, our commitment to community goes beyond banking—it’s about making a real impact. From educating students on financial literacy to supporting important causes and building stronger local connections, we always look for ways to be involved in our communities. Here’s a look at some ways we’ve been making a difference:
- We're hosting four (4) Financial Reality Fairs for East Kentwood High School students in April! This is a fun, hands-on way for students to learn money management and how choices affect their bottom line. Our team will assist students in making financial decisions that reflect everyday life and provide advice to help them stay on budget.
- Community West was honored to be invited to join the Community School Leadership Team and Finance Advisory Committee for East Kentwood schools—a task we proudly accepted! Through these roles, we have the opportunity to collaborate with educators, administrators, and local leaders to help shape financial education initiatives and support student success. We're excited to contribute our expertise and deepen our involvement in the East Kentwood community!
- In celebration of World Down Syndrome Day on March 21st, we participated in the Rock Your Socks fundraising campaign to raise awareness and support individuals with Down syndrome. Through the sale of socks, bracelets, and bookmarks, we engaged our community in this important cause. Thanks to the generosity of our members and team, we were able to make a meaningful donation to a local organization that provides resources and support to individuals with Down syndrome and their families.
- We're excited to announce CWCU has joined several new Chambers of Commerce, including Caledonia, Grand Rapids, Walker, and Byron Center! Becoming a member of these chambers allows us to strengthen our community partnerships, connect with local businesses and leaders, and discover new opportunities to support economic growth in the areas we live and serve. We look forward to actively participating in chamber events, collaborating on initiatives, and finding even more ways to stay engaged and make a positive impact in our communities!
Annual Meeting:
Monday, April 28 | 5:00PM
RSVP by 4/18/2024 to marketing@communitywestcu.org
Kentwood Branch
Memorial Day:
Saturday, May 24 - Monday, May 26
ALL BRANCHES CLOSED