Are You Underwater On Your Car Loan?

Understand your financial situation

Learn the terminology

Before you can determine if you’re underwater on your car loan, it’s important to know exactly what this term signifies. According to Philip Reed, a writer for NerdWallet, being underwater on a loan means that you have negative equity. In other words, you owe more on your loan than your car’s value.

John M. Vincent, writing for U.S. News & World Report, says having an upside-down car loan is a problem when you go to trade in your car at the dealership. If you have positive equity, your car’s trade-in value can go toward your new vehicle’s down payment. However, with negative equity, you won’t be able to put anything toward the down payment. In addition, if your vehicle gets stolen or totaled, Vincent notes that your insurance company won’t provide enough money to pay off your loan.

Know where you stand

To discover whether or not you’re underwater on your car loan, Emily Delbridge, writing for The Balance, recommends first finding out the current value of your car. You can do this by going to a website like Kelley Blue Book and inputting information about your vehicle. You’ll need to know the make, model, year, mileage, and other details of your vehicle to see its estimated value.

Then, Delbridge advises taking a look at your loan balance. Your auto lender may provide this when sending out your monthly bill, or you may need to call your lender or view your account online to see how much you still owe. If the amount you owe is more than your vehicle’s value, you’re upside-down on your loan.

Resolve the issue

Once you know you have negative equity, Reed recommends taking action to have positive equity again. You can make additional payments toward your principal to both reduce your loan faster and lower the amount you owe in interest. Another option is to refinance your loan for a shorter term. Although this will increase your monthly payments, it will also potentially decrease your interest payments overall and allow you to pay off your loan faster.

Vincent suggests selling your car on your own to get the highest potential price for it. While it can take some time to find the right private-party buyer, you may be able to pay off much of your loan with the money you receive. Then, when you shop for your next car, he says to choose one with a substantial cash rebate to cover more of your loan.

It may be disheartening to find out you’re underwater on a loan, but there are many solutions to get above water again. If you’d like to learn more about the solutions specific to your situation, talk to a financial advisor.

It’s Our Birthday!

We hope you can swing into a branch this Friday, July 10, and help celebrate AGCU’s 69th birthday with us!

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In appreciation of our members, we will have Pineapple Whip cups available starting around 11:00. There will be Pineapple and Grape flavors at our Campbell branch and Pineapple and Strawberry-Kiwi at the Independence location. For our Waxahachie area members, we will have DQ on hand for you. Supplies are limited, so be sure to come in early!

Due to COVID, we can’t have an in-branch celebration but will have cups, spoons, and napkins for you to take with you.

We look forward to seeing you at the branches this Friday, and if you want to join in on the fun, wear your favorite Hawaiian shirt, floral print, festive colors, etc. Mahalo!

Proud Sponsor of Light the Way Music Festival 2021

July 23-24 Rogersville, MO

AGCU is very proud to partner with Light the Way Music Festival.  The two-day event will be held on a 20-acre grass field featuring top Christian artists Toby Mac and For King and Country will be Friday and Saturday, July 23-24 in Rogersville, MO.
Bring your lawn chairs and sunscreen and Get Tickets here!

 

WHAT IS LIGHT THE WAY MINISTRY?

Light The Way Ministry provides events drawing thousands to enjoy the highest caliber of Christian entertainment and value for the benefit of empowering hope for the hopeless and light for the lost.

Light The Way Ministry is Missouri’s Largest Christian Music Festival with our hearts and mission of Taking Church Outside the Walls, and Spreading the Light of Jesus Christ. Light The Way Ministry continues to provide the highest caliber of Christian entertainment and value for the benefit of empowering hope for the lost. We exist to glorify God by making disciples who bring the Gospel restoration to our City and World! With our staff and festival volunteers working year-round to bring communities, churches, people, and businesses together for a great cause.

    Light the Way is an organization operating as a nonprofit under our 501c3.   Learn More

Want to Volunteer?

Missouri’s largest Christian Music Festival needs your help! We are looking for volunteers to serve on our prayer team, security team, parking team, in our kids zone, and for artist merchandise.

When you volunteer at our music festival you will get the chance to see amazing artists like For King & Country, Tobymac, We Are Messengers, Cain, and more! Our Music Festival is on July 23-24th in Rogersville, Missouri. Sign up here

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

 

AGCU Scholarship Recipients

 

SPRINGFIELD, Mo. –  We announced the recipients of our 2021 AGCU Scholarships Tuesday, May 25 at the Annual Business Meeting held at Oak Grove Assembly.

Every year we award scholarships to a number of New Attitudes members who are graduating from high school and plan to attend an accredited college or university in the fall of their graduation year. It’s just our way of thanking our New Attitudes members who have chosen AGCU as their banking institution.  If you would like to learn if you or a loved one qualify for an AGCU Scholarship, contact your local branch!

Meet This Year’s Recipients

Jeanne Buck

$3000 Scholarship

Jeanne is graduating from Allendale Academy in France, and plans to attend American Public University as an electrical engineer major. She volunteers with Gospel Vision, an international ministry, on the video production team. Jeanne also participates in swimming, gymnastics, as well as volunteers in the children’s ministry of her church.

 

Elayna Goodwin

$3000 Scholarship

Elayna is graduating from Dakar Academy in Senegal, West Africa, and plans to attend Southwestern Assemblies of God University as a secondary education major. She is a member of National Honor Society and has served as Class Secretary her junior and senior years. Elayna works as a teacher’s assistant and school-staff aide. Additionally, she serves in various roles in her church.

 

Justin Letterman

$3000 Scholarship

Justin is graduating from Glendale High School in Springfield, Missouri, and plans to attend Evangel University as a computer science major. He is a member of National Honor Society and the Missouri A+ Tutoring Program. Justin is also a member of the Glendale band and baseball team. He also volunteers in the youth group and for the food pantry at Central Assembly.

 

Gabriela Royer

$3000 Scholarship

Gabriela is graduating from L.D. Bell High School in Hurst, Texas, and plans to attend Texas Woman’s University as a kinesiology – pre-physical therapy major. She is a National Honor Society member and Hurst-Euless-Bedford Independent School District Student Ambassador. Gabriela serves as class president and vice president of Philharmonic Orchestra. Additionally, she serves in her church as a Sunday-school teacher and on the worship team.

 

Jenelle Schmidly

$3000 Scholarship

Jenelle is graduating from Nixa High School in Nixa, Missouri, and plans to attend Evangel University with a major in music recording technology. She is a member and vice president of Nixa’s chapter of National Honor Society. Jenelle has been a member of Nixa High School’s tennis team, concert choir, as well as the all-district choir. She also serves as lead on the James River Live Production team.

 

Lily Slater

$3000 Scholarship

Lily is graduating from Gloria Deo Academy in Springfield, Missouri, and plans to attend Evangel University with a major in early childhood education and music. She is principal flautist in the Springfield Youth Symphony and a member of the Missouri All-State Choir. Lily volunteers with several organizations, including Central Assembly’s orchestra and nursery. She is currently employed at Dan Kinney Family Center, and performs as a freelance musician.

 

Kyle Mayne

$1,000 Merrell K. Cooper Memorial Scholarship

Kyle is graduating from Kickapoo High School in Springfield, Missouri, and plans to attend Evangel University as a chemistry major. He is a member of Kickapoo High School’s marching band and competitive jazz band. Kyle has volunteered in kids’ ministries at church. He was interviewed to be a cast member of the LEGO Masters reality show and works at Freddy’s.

 

 

 

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

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The more you use AGCU for your day-to-day banking needs, the more you help support worthy causes – both locally and worldwide. We donate 10% of our annual earnings to support churches and ministries, educational scholarships and programs, and humanitarian efforts. Every day, we provide financial services to people across the United States and missionaries in 190 countries around the world.

In 2020, together, we donated a total of $223,081:

• $91,000 to educational scholarships and programs
• $67,931 to humanitarian efforts
• $62,650 to churches and ministries
• $1,500 to other community needs

 

Evangel University Golf Tournament

ACCU PROUD SPONSORS

SPRINGFIELD, MO – AGCU was proud to partner With Evangel University’s Alumni Association as a Sponsor of the 2021 Evangel University Golf Tournament and Global Golf Challenge Friday, June 18, 2021, at 8 a.m. at Rivercut Golf Course  We are so excited to be part of this unique opportunity to play 18 holes on a world-class golf course in one of the most beautiful locations while supporting a great cause.

100% of the event proceeds directly impact student scholarships at Evangel University.  Offering more than 70 academic programs, Evangel is on the cutting edge of today’s professional fields and vocational ministry training.

Congratulations to the individual winners of each competition along with the team winners of our three flights (Championship Flight, Flight A, and Flight B):

 

Championship Flight

First Place – Elite/Eastway Storage (Captain: Jacob Stancer) – Score = 50

Second Place – Spracklen Insurance (Captain: Doug Spracklen) – Score = 56

 

Flight A

First Place – The Warrior’s Journey (Captain: Scott McChrystal) – Score = 60

Second Place – Star Wholesale (Captain: Kent Greve) – Score = 60

 

Flight B

First Place – James River Church (Captain: Justin Smith) – Score = 68

Second Place – The Allen Family (Captain: John Allen) – Score = 69

 

 

Longest Drive – Mitchell Swanson

Closest to the Pin – Garrett Dollins

Putting Contest Winners – Adam Johnson, Jon Jenkins

Thank You Frontline Heroes!

We are so grateful for all you do. You continue to be in our thoughts and prayers. May God bless you!

Secure, Strong, and Growing

During these challenging times, rest assured your money is safe and growing with AGCU.

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Since 1951, AGCU has provided needed access to financial services for our members. We’ve been here through tough times, and are even better equipped for the challenges of today and tomorrow.

• Federally insured by NCUA to at least $250,000 per depositor
• Recipient of Bauer Financial’s Top 5-Star rating for the last 27 years
• Top 10 in asset size of faith-based credit unions in the country
• Competitive savings and loan rates
• Serving nearly 17,000 members nationwide and around the world

Simply said, we’re stronger than ever, growing, and ready to serve your financial needs!

Scam Activity Continues to Rise

The security of your personal information is a top priority of AGCU.

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We will never ask you for confidential information, like your full social security number, full account number, debit or credit card numbers, CVV or PIN in an email or via a web site, online chat or from an unsolicited phone call.

If you receive a suspicious email or phone call requesting confidential information, it is not from AGCU.

You can reduce the risk of falling victim to fraudulent phone calls and text messages by following these steps:

• Be aware – legitimate businesses do not make unsolicited calls for personal, sensitive information. If you receive an unsolicited call asking this, it is probably a scam.
• Don’t give in to pressure – Many times the caller will pressure or try and scare you into giving your personal information. If so, simply hang up.
• Don’t answer phone calls from unknown numbers. Valid callers will leave a message.
• Don’t respond to unverified SMS text asking you to call your financial institution. Text messages from AGCU never request confidential information.
• Stay calm – These callers are masters at emotional string pulling. When in doubt, hang up. Please notify AGCU if you suspect that someone has impersonated a credit union representative. You might also consider keeping our Member Care number in your mobile phone for fast access. The number is (866)508-2428.
• Be skeptical – Caller ID can be faked. Hanging up is your best defense.
• Never share a One-Time-Password (OTP) or a Verbal Password with anyone. OTPs are generated to verify your identity and criminals are anxious to obtain them by asking you to read OTPs to them over the phone or via text.
• AGCU offers complimentary account security alerts through online banking. You may create alerts at any time by logging into your online banking and clicking on the “Options” tab. Then select “Alerts” to set up notifications for balances, transactions, account log ins, and more.
• Carefully review your statements regularly and contact us if you notice any unauthorized activity.

During this time of uncertainty, it’s more critical than ever to be aware of financial scams targeting you. We are happy to help answer any questions that you may have and appreciate your partnership as we take more steps to protect you and your financial accounts. Let us know if you have any questions by calling Member Care at (866)508-2428 or sending an email.

 

 

 

Overdraft Tolerance Reminder

Did you receive a letter from us regarding your Overdraft Tolerance preference?

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If so, we need you to complete the Overdraft Tolerance Disclosure that was included with the letter and return it in the postage-paid envelope before Friday, April 3, 2020.

Please note, your account will be considered “opted-out” if we do not receive the form by the deadline. This means that authorizations for ATM and everyday debit card transactions will be declined if you do not have available funds in your account.

If you have any questions, please call Member Care at 417.831.4398 or 866.508.2428 (toll-free).

 

Tax Season Scams

‘Tis the season for Tax Scammers!

Be aware of these TAX SCAMS in 2020:
• Phishing phone calls and text messages
• Social Security Number suspension threats
• Tax refund bait-and-switch

Protect Yourself:
• NEVER give out information over the phone
• CALL US with questions about your AGCU accounts
• REMEMBER the IRS will not initiate contact asking for personal information
• REPORT suspicious emails, texts, or calls to phishing@irs.gov