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GCFLASH
Hot Off the Press!
Tuesday, January 8, 2008 - Edition #436
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Weekly Spotlight
Did you know with CDARS® you can receive up to $50 million in FDIC protection on Certificates of Deposit placed with GCF Bank? Learn why CDARS® can be a valuable cash management or long-term investment tool for you or your business. Apply online today!.
1st Flash:
INTRODUCING CYBER CDARS
For over a year now, GCF Bank has offered our local customers the safety and security of FDIC insured Certificates of Deposit with coverage up to $50 Million through our CDARS (Certificate of Deposit Account Registry Service®) program. CDARS® can be a valuable cash management or long-term investment tool for you or your business.* Sign one agreement with a participating local bank or other financial institution of your choice, earn one interest rate, and receive one regular statement. We've had much success with this exceptional program. Our customers have thanked us for helping them keep their funds safely invested, yet with the simplicity of dealing with a single trusted bank. GCF Bank is now prepared to expand our CDARS® product by offering it to a nationwide audience. Beginning January 08, 2008, investors anywhere across the country will be able to select GCF Bank as their source for fully FDIC insured Certificates of Deposit. Today we are introducing our new CyberCDARS Certificates of Deposit! This new member of our Cyber family of products works exactly like our in-branch CDARS® product, but it now can be applied for electronically over the Internet. Why CDARS®?
It's one-stop shopping. With help from CDARS®, you can access:
How does CDARS® work?
We are members of a special network. When you place a large amount with us, we place your funds into certificates of deposit issued by other banks in the network - in increments of less than $100,000 - so that both your principal and interest are eligible for complete FDIC protection. With help from a sophisticated matching system, we exchange deposits with other banks that are members of the network.
These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. As a result, we can make the full amount of your deposit available for community lending purposes. What else should I know?
You no longer have to spend time managing multiple bank relationships, administering various interest rates, organizing interest disbursements from various sources, or manually consolidating monthly statements. This reduces your administrative burden, especially during tax and financial reporting seasons.
And with CDARS®, you can eliminate the need to monitor changing collateral values - another time saving convenience. Of course, your confidential account information remains protected. CDARS® is a registered service mark of Promontory Interfinancial Network, LLC. Learn more about CDARS®. We now offer three exciting Cyber products:
Rates for each product may be found on the rates page of our Web site. For more information, email martin.pinder@gcfbank.com or call 877-589-6600 x300. Use area code 856 from within the local calling area. * Funds may be submitted for placement only after a depositor enters into the CDARS® Deposit Placement Agreement with GCF Bank. The agreement contains important information and conditions regarding the placement of funds by us. Please read the agreement carefully before signing it. This agreement can be found on our Web site. 2nd Flash:
NEW PRODUCTS FOR THE NEW YEAR
Humans were not built to stay in one place. Exploration is at the very core of our nature. The wisdom one gains from stretching beyond their boundaries is invaluable. And now GCF Bank can make travel within everyone's reach. Soar into the new year in your own Beechcraft, Cessna, Piper or Cirrus with financing through our National Aircraft Lending program. We can fund essentially all single and multi-engine general aviation airplanes. For the more adventurous, we also lend on a wide range of other aviation products including the new light sport products, experimentals, kits, helicopters and warbirds. Already own your own plane? GCF Bank can help with avionic upgrades, engine and prop overhauls or replacements and refinancing. Interest rates are currently as low as 6.99% with terms up to 20 years. In many cases, a down payment of only 10% will put you in the cockpit. GCF Bank has an appetite for loans from just $5,000 to $1,000,000. We'll consider those even larger on a case-by-case basis. For those of you who prefer to travel by land, our National RV Lending program can put you behind the wheel of your own Class A or Class C vehicle. We've made it much easier for you to act out your life-long dream to "see America" from the comfort of your own self-contained, heated and air-conditioned vacation home on wheels. We offer financing anywhere from $5,000 to $500,000 with the same terms as our National Aircraft Lending program. Both the Aircraft and the RV products can accommodate many forms of entity ownership. Please contact Austin Sedicum x380 (austin.sedicum@gcfbank.com), Brenda Maddock x333 (brenda.maddock@gcfbank.com) or Donna Norris x395 (donna.norris@gcfbank.com) for more information about these new products. And we're not stopping there. Watch for GCF Bank's new Marine program to be announced soon! Financial News
The housing market continues to take a hit. The pending home sales index as a leading indicator of housing sales is down 2.6% since the preceding month. On Friday, a number of labor indicators were released that had a dismal forecast for employment. The unemployment rate was expected at 3.8% and was reported as 4% of the labor force. The non-farm payroll employment was expected to be 70,000 for December and was actually reported as 18,000. This was a decrease from the preceding month of 94,000. This indicator counts the number of paid employees working part-time or full-time in the nation's business and government establishments. The average hourly earnings was expected to increase .3% but was measured at .4%. This negative news for employment fed the recession worries on Wall Street. Technically, a "recession is a period of an economic contraction, sometimes limited in scope or duration" according to Dictionary.com. Practically, economists call a decline in the gross domestic product for two consecutive quarters a recession. Economists are watching, but may not be able to tell other than in hindsight when the economic results have been announced. Investors have been turning to treasuries for the safety of government bonds. Corporate and foreign bonds have provided an attractive alternative to investors over the last few days. The stock market continues its rollercoaster ride. Some attention to the economic status will be diverted as we watch the results of what promises to be an interesting Presidential primary! Today's National Market Rates
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In This Issue... 1st Flash: INTRODUCING CYBER CDARS 2nd Flash: NEW PRODUCTS FOR THE NEW YEAR Today's Market Rates On the World Wide Web Tip of the Week Financial News Past issues of GCFlash: December 18, 2007 Edition #435 December 11, 2007 Edition #434 December 4, 2007 Edition #433 November 27, 2007 Edition #432 Looking for articles from a past issue of GCFlash not listed above? Find them in our Knowledge Base!
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