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Before you drive that new car off the lot, take a minute to think about the responsibilities that come with it. If something were to prevent you from working, how would you cover the expenses associated with owning a vehicle. American Airlines Federal Credit Union offers value-added services designed to help protect you, your car and your loan.
Protect yourself and your family
with Credit Life and Disability Insurance*.
You are your most valuable asset, and if a debilitating or life-threatening event sidelines you from working, Credit Life and Credit Disability (CLCD) Insurance may help free you and your family from financial burden.
Protect your vehicle
with extended warranty** repair coverage on new and eligible pre-owned vehicles.
Prepare for the day after your car’s manufacturer warranty expires with a Vehicle Service Agreement (VSA). This extended coverage for auto repair includes things like towing, car rental and roadside assistance.
Remember that coverage is crucial, especially for a pre-owned vehicle, as it covers anything mechanically or electrically related. There are different packages and terms that can be tailored to a member’s needs.
This service can be added at any time, even if your vehicle is financed elsewhere.
Protect your loan
ith Guaranteed Asset Protection (GAP) † .
GAP offers peace of mind should you ever become upside down on your loan. If your car is deemed a total loss, for example, and insurance only pays you $10,000, but you still owe $15,000 on the loan, GAP may reduce or eliminate the difference.
The Credit Union can also loan members up to 125% of the loan-to-value on the vehicle to ensure those products are easily funded.
Visit us online at AACreditUnion.org/planning/ protect-insurance for more information.
* Your purchase of MEMBER’S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life Insurance Company is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan.
Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Group Policy for a full explanation of the terms. ** Mechanical breakdown insurance is available in Alaska, Maine, Massachusetts, Oregon and California. † Your purchase of MEMBER’S CHOICE™ Guaranteed Asset Protection (GAP) is optional and will not affect your application for credit or the terms of any credit agreement you have with Us. Certain eligibility requirements, conditions, and exclusions may apply. You will receive the contract before you are required to pay for GAP. You should carefully read the contract for a full explanation of the terms. If you choose GAP, adding the GAP fee to your loan amount will increase the cost of GAP. You may cancel GAP at any time. If you cancel GAP within 90 days you will receive a full refund of any fee paid.
Our Visa® Platinum cards offer more choices, great rates and exclusive benefits.
Compare the cards below to determine which one is best for you:
PLATINUM BENEFITS INCLUDE:
Greater global protection and enhanced fraud protection with Chip-Enabled Technology
Protection from fraudulent charges with Zero Fraud Liability**
Travel with peace of mind knowing you have $500,000 in Travel Accident Insurance
When renting a car, know you’re protected with Auto Rental Collision Insurance
Travel and Emergency Assistance puts you in touch with the appropriate emergency services should the need arise
Remember, American Airlines Federal Credit Union will never call and ask you to provide personal information such as your Social Security number or the three-digit CVV number on the back of your debit or credit card over the phone. If someone calls asking for personal data, even from a familiar number, this may be an act of “spoofing,” or someone disguising themselves as a trusted source in order to fool you into revealing your info.
* As of 1/1/2021, the current nonpromotional variable Annual Percentage Rate (APR) for purchases, balance transfers and cash advances is based on creditworthiness and ranges from: Visa Platinum: 7.00%–12.24%, Visa Platinum Rewards: 8.50%–14.24%, Visa Platinum Secured: 12.24%.
If you default under your card agreement with us, we may increase your APR to the fixed default APR which equals 18.00%. The APR will vary with the market based on the Prime Rate and is subject to change after the account is opened. Annual fee: $0. Balance transfer fee: $0.
Cash advance fee: $2. Minimum finance charge: $.50 except where prohibited by law. Foreign transaction fee: 1% of transaction amount after its conversion to U.S. dollars. There is no fee for the Rewards card. Connection Points powered by CURewards®. ** Zero Liability Policy does not apply to ATM transactions, to PIN transactions not processed by Visa, or if you were negligent or fraudulent in the handling of your card, including failure to report loss or fraud in a timely manner.
Must have the American Airlines Credit Union Visa Platinum Rewards Credit Card or Platinum Starter Card to earn Connection Points on Debit Card purchases — valid only on Flagship Checking accounts.
Visa is a registered trademark of Visa International Service Association.
STILL CAN’T DECIDE WHICH CARD TO GET? LET US HELP YOU.
Platinum Low-Rate Credit Card
Pay off your balance quickly with a very low interest rate.
Platinum Rewards Credit Card
Earn big rewards and get more for every dollar you spend:
Earn one (1) Connection Point for each dollar ($1) spent in purchases.
Earn one (1) Connection Point for every three dollars ($3) spent in purchases with your Visa Debit Card
Redeem Connection Points for rewards like gift cards, cruises, hotel stays, air travel and brand-name merchandise.
Platinum Secured Credit Card
This card can help build or rebuild your credit history. Secure funds in an interest-bearing American Airlines Credit Union savings account to enjoy the convenience of a credit card.
Our members spent more than
in international debit and credit card purchases last year.
Mortgages and Home Equity Line of Credit (HELOC)
Whether you’re a first-time homebuyer, seeking a more affordable monthly payment or thinking about buying a second property, we make it simple to get the mortgage loan that fits your goals and your budget
With a wide range of mortgage products, we make choosing the right mortgage the easiest part of shopping for your new home.
FIXED-RATE MORTGAGE LOANS
This “traditional” type of loan maintains its original interest rate throughout the entire life of the loan. (Any change in monthly loan payments will be due to increases in other charges like insurance or taxes that naturally occur over time.)
A fi xed-rate mortgage loan may be a good choice if you want the security of knowing your interest rate will not change and how much your monthly mortgage loan payment will be.
Mortgage loans come in various loan terms. In determining the length of your loan, you may want to consider the total amount of interest you want to pay over the course of your loan. You will pay more interest on a longer fi xed-rate loan term, but you will have lower monthly payments. You can pay off a shorter-term loan quicker, but will have higher monthly payments.
The first option to consider is your ability to make higher monthly payments. If you can afford to pay more per month, you can reduce the number of months you have to pay, and choosing a shorter-term loan will save you thousands in interest charges.
Your second option is to decrease the total amount of interest you pay on a longer-term loan, so you don’t lock yourself into higher monthly payments, but pay a little extra each month toward the principal when you are able to do so.
ADJUSTABLE-RATE MORTGAGE LOANS
While the name almost says it all, there are certain things about Adjustable-Rate Mortgages (ARMs) that you should know.
This rate provides you with lower initial payments for increased purchasing power.
2. ARMs are different.
Our programs provide an initial fi xed rate with convenient terms before the rate adjusts at all. These options are best for those who want added payment stability and lower initial monthly expense.
First-time homebuyers no longer tend to stay in their “starter” home for more than fi ve or 10 years, and experienced homeowners often plan to pay off their mortgages long before the maturity dates.
An adjustable-rate mortgage may be a good choice if you want to maximize your buying power, keep your payments lower during the fi rst few years of your loan, plan to move or pay off your mortgage within the next 10 years or if you expect your income to increase signifi cantly in the
Need a loan that’s larger than conventional loan limits? Our jumbo loan rates may surprise you. Use the Loan Consultant (HomeLoAAns.org) to get quotes on current interest rates and closing costs. The free website offers added value:
Locks in your rate
Visit us at AACreditUnion.org/ borrowing/home-loans for more information.
If your needs don’t fit within the framework of more traditional loans, we have some options for you.
First-Time Homebuyer Program
This loan is a low-cost, low-rate loan for the first-time homebuyer who has not owned a home in the last two years.
Residential Investment Property Program
We offer mortgages on one-to four-family residential investment properties at competitive rates with a low down payment. Available on fixed rate or ARMs.
Second Home/Vacation Properties
A second home is a property that is located a reasonable distance from the borrower’s principal residence and which the borrower occupies for some portion of the year. The dwelling must be suitable for year-round occupancy. Also, the borrower must have exclusive control over the property.
We offer a number of value-added services to help make your move easier. These services can make the most of your hard-earned money by giving you trusted advice, cash back and rewards.
Members On the Move
Use this no-cost program when you begin the homebuying process. Members On the Move gives you access to real estate reference materials, provides you with a personal consultant and even gives you cash back.*
Our consultants can guide you through each step of homebuying and/or selling. They act as your advocate throughout the process by assigning you a certified real estate agent who can provide you valuable information regarding neighborhoods, schools and more.
Real Estate Agents
Get recommendations from specially trained and certified real estate agents from select well-known firms.
Cash Back on Sales and/or Purchases
Get up to $3,000 cash back** based on the sale or purchase price of each transaction when you buy and/
or sell a home with our recommended agents. That means you can earn cash back on both transactions.
Cash Back Savings
Mortgage Connection Points Program
If you have an American Airlines Credit Union Visa® Platinum Rewards Credit Card, you can get up to 35,000
when you finance your home with American Airlines Credit Union.
Remember that we
our mortgage loans to other lenders. We retain all servicing during the life of the loan.
* Members on the Move is provided by CARTUS. Cash back is not available in some states. All real estate commissions are negotiable. Contact a consultant for terms and conditions in order to confirm eligibility. ** $3,000 is based on an average purchase or sale price of more than $499,999.
The number of Connection Points awarded in conjunction with your new American Airlines Credit Union Mortgage Loan is 25,000 points for new mortgages to American Airlines Credit Union that are between $50,000 and $250,000 in loan principal amount for a first-lien mortgage. For loans greater than $250,000, an additional 10,000 Connection Points will be awarded. Offer valid for new mortgages at American Airlines Credit Union. Internal Home Equity Line of Credit Loans are not eligible. One award per funded loan. Prior to closing on your mortgage loan, you must have an open Consumer American Airlines Credit Union Visa®
Platinum Rewards Credit Card and be a member in good standing to receive Connection Points. American Airlines Credit Union Visa Platinum, Platinum Secured and all other credit cards and debit cards are not eligible for this offer. For Connection Points rules, please go to AACreditUnion.org/pdf/connectionpointsrules.pdf.
Allow 4 to 6 weeks after closing date for balance to appear on your “Connection Points Summary.” American Airlines Credit Union reserves the right to change or end the Mortgage Connection Points Program and its rules and conditions at any time without notice. Connection Points powered by CURewards®.
Visa is a registered trademark of Visa International Service Association.