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Consumer
News & Views
Published twice monthly
February 2010 Issue

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This issue is sponsored by
NASA Federal Credit Union: |
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In this 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 CTM
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
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