Financial Knowledge

Tax Time Information

CALCOE’s Routing Number is 325183725

Your four digit account number is not your full account number, please contact us if you need the full number.

For year-end dividend information, please refer to your December 2013 statement.

If you need any help with your CALCOE tax information, please contact us.

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Credit Cards: Switch and Save

Do you know what would happen if you went over the credit limit on one of your credit cards, or if you made a late payment? If you got the card from a large national card issuer, chances are you’d be charged high penalty fees, and you might find your interest rate hiked to more than 30%.

If you’re not sure about the fees and penalties for your credit card, ask your card issuer. The terms may have changed since you opened the account, and you may not have seen the notification, which generally accompanies your account statement. You should know:

- Your interest rate.
- Whether there are different rates for balance transfers, cash advances, and purchases.
- The order in which payments apply to different types of transactions–some banks pay off – low interest-rate balances first so the high-rate ones stay on your account longer.
- Whether the rate could increase to a higher penalty rate, and under what circumstances (such as a late payment–on this card or any other card).
- Annual fee, late fee, and overlimit fee amounts, and when they’re charged.
- What other fees are charged, and when.
- The grace period, or number of days from the billing date you may pay in full without incurring finance charges.

If you’re not satisfied with the answers, maybe it’s time to shop for a better card. And be sure to ask these questions up front. In most cases, you’ll find credit union credit cards are the most consumer friendly. Stop by CALCOE to get a better deal on your credit card. Right now, Transfer for More: Credit Card Balance Transfer is going on for a limited time. Transfer your credit card debt from another institution to CALCOE for a low rate of 4.69% APR*! Talk to a CALCOE Loan Officer today!

*Restrictions may apply.

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Sell Your Car Yourself

Selling your car on your own can help you make more money than you would by selling it back to a dealer. Follow these steps to a successful sale:

1. Set a price. There are resources that can help you identify the market value of your car—start with Kelley Blue Book (kbb.com) and Edmunds.com.

2. Detail your car to increase curb appeal. Repair minor dents and dings and change the oil and ensure fluid levels are at the max. Clear out all personal belongings. Consider paying for minor fixes instead of selling the car ‘as-is.’

3. Advertise through word-of-mouth or in online classifieds.

4. Arrange to meet potential buyers for a test drive. Prepare for the meeting by:

* Assembling maintenance records;
* Printing a Carfax vehicle history report (carfax.com);
* Identifying the lowest purchase price you’d accept in negotiations;
* Notifying the potential buyer of what kind of payment you’ll accept;
* Researching your state’s DMV laws for selling a car; and
* Printing a bill of sale.

Ride along with a potential buyer on a test drive. Once you find an interested buyer, negotiate the purchase price.

5. When the deal is set, fill out the bill of sale. If you own the title outright, sign the title over to the buyer after you have payment, and follow any additional DMV procedures for your state. If you owe money on the vehicle loan and CALCOE has your title, give us a call at 509.248.4308 to conduct the sale here.

6. After the deal is complete, make one final sweep through your car to retrieve personal belongings. Don’t forget to give the buyer all copies of the keys and your folder of the car’s service records. Make copies of all paperwork and immediately cancel your insurance policy or transfer it if you have purchased a new vehicle.

If you are purchasing a new vehicle to replace your old one, come to CALCOE for your auto loan. Call us today at 509.248.4308 or stop in today to speak with a CALCOE loan specialist.
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Use the Web to Buy a Car

Will the car-buying process shift to the Internet in the next 10 years?

That’s the view of some analysts who report an increase in online car buying, according to CNNMoney.com.

Already some large dealerships—Autonation, the country’s biggest chain, and Sonic Automotive—are experimenting with upfront Internet pricing that serves as the initial point of contact for buyers.

A majority of consumers already use the Internet to window shop and gather information. But now more are completing the transaction online—hoping to avoid those dreaded face-to-face sit downs with a salesperson.

The beauty for consumers is the struggle between dealers and shoppers is shifting in favor of the buyer as dealerships, already faced with slim margins, look for a faster sales turnaround. The practiced online shopper can pit dealers against one another from home.

The appeal of online shopping is simple for consumers: There’s less hassle. It’s fast and convenient. Online car buying has become more streamlined and competitive, according to Edmunds.com. It has been shopping online exclusively for its fleet-testing vehicles for the past eight years.

Follow this advice to make your car-shopping experience easier:

  • First, line up your financing so you can be a cash-paying customer. Shop around for rates, starting first at CALCOE.
  • Know exactly what you want to buy—the make, model, options, even the color.
  • Don’t go to the dealership—call, send an e-mail, or use a car-buying website, where you should get bids from competing dealerships. Ask them to send you a copy of the window sticker as well as the invoice price, which is what you are really after. You’ll be surprised how many will do so when they know they are bidding against another provider. Remind dealers that other providers are meeting your request for a firm bid.

If buying from an individual or through an unknown provider, beware of potential fraud.

Visit a loan officer at CALCOE to discuss auto financing details.

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