- 2010 Corporate Sponsorship Program

Consumer News & Views
Published twice monthly
February 2010 Issue

• Good News! Consumer Confidence Inches Upwards in January
• NASA Federal Credit Union Offer Low Loan Rates in the Washington, DC area and Maryland
• State of the Union: President Obama Challenges Congress to Act and Create Jobs
• Toyota Recall Concerns Consumers
• Apply Now for the 2010 Green C™ Certification Program

Good News! Consumers Confidence Inches Upward. The Conference Board Consumer Confidence Index®, which had increased in December, improved further in January. The Index now stands at 55.9 (1985=100), up from 53.6 in December. The Consumer Confidence Survey® is based on a representative sample of 5,000 U.S. households.

Lynn Franco, Director of The Conference Board Consumer Research Center, said, "Consumer Confidence rose for the third consecutive month, primarily the result of an improvement in present-day conditions. Consumers' short-term outlook, while moderately more positive, does not suggest any significant pickup in activity in the coming months. Regarding their financial situation, while consumers were less dire about their income prospects than in December, the number of pessimists continues to outnumber the optimists." 

Consumers' assessment of present-day conditions was, on the whole, more positive than last month. Those stating business conditions are "good" increased to 9.0 percent from 7.5 percent, however, those stating business conditions are "bad" increased to 46.1 percent from 45.7 percent. Consumers' assessment of the labor market improved moderately. Those claiming jobs are "hard to get" declined to 47.4 percent from 48.1 percent, while those claiming jobs are "plentiful" increased to 4.3 percent from 3.1 percent.   

Consumers' short-term outlook, while overall more positive, was somewhat mixed. The percentage of consumers expecting an improvement in business conditions over the next six months decreased to 20.9 percent from 21.2 percent, while those anticipating conditions will worsen increased to 12.7 percent from 11.8 percent. Regarding the outlook for the labor market, those expecting fewer jobs decreased to 18.9 percent from 20.6 percent. However, those expecting more jobs to become available in the months ahead declined to 15.5 percent from 16.4 percent. The proportion of consumers anticipating a decrease in their incomes declined to 16.2 percent from 18.4 percent.   

The American Consumer Council and the Maryland Consumer Council are pleased to recognize NASA Federal Credit Union as a sponsoring member.

NASA Federal Credit Union is a full service financial institution which serves more than 73,000 members and many employer groups located throughout the greater Washington, D.C. area and Maryland. As a member of the American Consumer Council or the Maryland Consumer Council you are eligible to join NASA FCU and take advantage of their outstanding member benefits and low loan rates! Visit: www.nasafcu.com

Refinance Now At NASA Federal Before Rates Go Up!
Act now for great mortgage deals. The door is still open for great home loan deals –
however, time is running out! Mortgage rates continue to hover at historic lows, although experts say that could change at any time. And, government-sponsored legislation has made it more advantageous than ever to buy a home – but only for a limited time. The bottom line: Now is the time to purchase or refinance a home!

Money-Saving Tax Credits:
Congress has extended and broadened a terrific tax credit offer for homebuyers. First-time homebuyers (or those who have not owned in the past three years) now have until April 30, 2010 to purchase a home and qualify for a tax credit of up to $8,000 (10 percent of the purchase price). Income limits apply. To make the mortgage deal even better, NASA Federal offers Federal Housing Administration (FHA) mortgages that qualify for the government's first-time homebuyer’s tax credit of up to $8,000. FHA loans have expanded qualifying criteria, lower down payment requirements and other features that are especially tailored for the first-time homebuyer. There’s more good news: Those who were in their previous home for five of the last eight years and purchase a new home by April 30, 2010, are now eligible for a tax credit of up to $6,500 (10 percent of the purchase price). Income limits apply.

Low Rates, Great Features at NASA Federal:
Simplify your search for a great mortgage loan by coming to NASA Federal first. We offer a variety of home loans to suit your unique needs, with great features including:

• Financing up to 96.5%
• Fixed and adjustable rate loans
• No points options
• Loans available up to $850,000
• Fast approvals
• Save thousands in closing costs
• Easy online application at nasafcu.com

Take Advantage of NASA Federal’s Mortgage Loans Today!
One of the primary benefits of membership in NASA Federal is access to great loan offers. Whether you’re buying your first home or moving up to the home of your dreams, come to us for a mortgage loan that’s right for you. Apply online at www.nasafcu.com

NASA Federal has loans for all your business needs. Find out more about our business loan options today or apply for your business loan now. Or contact Andy Stafford, Assistant Vice President of Business Lending at 301-249-1800 or toll-free, 1-888-NASA-FCU (627-2328), ext. 308 to discuss your needs. If you want more information about a particular account or service, contact us at 301-249-1800 or 1-888-NASA-FCU (627-2328), ext. 204. We're happy to be of service for your business.

Please visit: www.nasafcu.com or call their toll-free number to join: 1-888-NASA-FCU. Be sure to mention you’re a member of the American Consumer Council and join for free!

For more details, call 301-249-1800 or 1-888-NASA-FCU (1-888-627-2328).

President Obama Challenges Congress to Act Fast. CNN described President Barack Obama’s first State of the Union Address as a delicate “balancing act.”

President Obama used his first State of the Union address to hit the issue of jobs hard by pressing his vow to keep "fighting" for the middle class -- spending new money on everything from child care to student loan assistance and sending signals to liberals that he's not giving up the battle for health care reform. On the other hand, another key theme was fiscal discipline, The president, in an emotional speech, pushed for a freeze on non-security discretionary spending for the next three years -- including a symbolic move to hold the line on the salaries of senior White House officials.

It's a sign of a president still sorting out his next move, as the administration tries to reset for his second year in office after a rockier-than-expected first year, though top aides see no contradiction in the competing messages on spending and austerity.

Toyota Recall Concerns Consumers. A new Toyota recall was announced affecting some 2.3 million vehicles. This recall comes just months after a separate Toyota recall that affected nearly 4 million cars. Toyota says today's recall, which involves a gas pedal issue, is "voluntary."

The following Toyota Division models are affected:

• 2009-2010 RAV4,
• 2009-2010 Corolla,
• 2009-2010 Matrix,
• 2005-2010 Avalon,
• 2007-2010 Camry,
• 2010 Highlander,
• 2007-2010 Tundra,
• 2008-2010 Sequoia

Reuters reports that the newest Toyota recall relates to a "dangerous acceleration" issue with Toyota cars and trucks. Though potential issues are rare, Toyota says they're more likely to occur after wear and tear on the gas pedal.

No Lexus Division or Scion vehicles are affected by these actions. Also not affected are Toyota Prius, Tacoma, Sienna, Venza, Solara, Yaris, 4Runner, FJ Cruiser, Land Cruiser, Highlander hybrids and select Camry models, including all Camry hybrids, which will remain for sale.

The Green C^TM Certification's 2010 criteria are now available. Applications from companies and organizations that want to be certified for their Green practices and Corporate Social Responsibility initiatives should visit the ACC’s website.

For more information, please call ACC at 1-800-544-0414 or visit the ACC’s website.

To become a member of the American Consumer Council, visit us at: www.americanconsumercouncil.org