PHOENIX -- Desert Schools Federal Credit Union is helping local neighbors avoid the pitfalls of Adjustable Rate Mortgages by hosting a community meeting.

According to the credit union, many Valley residents who purchased their homes with payment option-ARMs are now facing higher monthly payments in the wake of rising rates.

"Desert Schools is a credit union that was founded by teachers," said Cathy Graham, assistant vice president of marketing. "The purpose of our community meeting is to meet our neighbors and provide information and advice in a friendly, welcoming environment."

Graham also emphasized that the credit union does not offer payment option-ARMs or negative amortization loans that can have a negative effect on a borrower's financial well-being.

"Our community meeting is designed to educate and help residents make informed decisions," said Graham.