ANNUAL MEETING ELECTION RESULTS

 

Lance Covert *	- 92
Alice McDonnell *	- 90
Steven Mac Eachern *	- 85
James A. O’Connell, Jr.	- 61
Blanks	- 110

* Elected Director

Congratulations to the winners, and thanks to all who participated.

CBS - THE EARLY SHOW

Would a credit union be a better alternative for you?
The Early Show's financial contributor Vera Gibbons compares banks and credit unions.

SHOP WITH YOUR ATM CARD! utility bills can also be paid.

Did you know your Credit Union ATM card is valid at over a million retailers across the US? Through our participation in the NYCE Network, most major department stores, wholesale clubs, gas stations, drug-stores and supermarkets accept our ATM card. In addition to the security of PIN based transactions, you enjoy the convenience of cash back options available at all supermarkets and many other retailers. You must have a share draft account to take advantage of this service. Look for the red and white NYCE logo, or signs that say “ATM/debit cards accepted here”.

To view a list of participants, go online to www.nyce.net, and click on the Consumers link.
 

NOTICE OF CHANGE

Cash Withdrawal Limits

The credit union limits the amounts of cash it keeps on the premises to protect the security of both members and staff alike. In order to make sure all members have equal access to cash, at the most recent board meeting, the board of directors voted to limit the daily cash withdrawal/cashed check amount to $1,500.00. Members must notify the credit union at least 24 hours in advance for amounts greater than $1,500.00. Our one week notice policy on cash requests over $3000.00 still applies.

The credit union has ATM cards which you can use at most ATM machines for cash withdrawals and in many POS (point-of-sale) locations to make purchases. Our ATM card is a convenient, safe alternative to carrying cash!
 

Save Time and Money Contact Us Before You Hit The Road

Before you hit the road shopping for your next used vehicle, contact your credit union. We'll give you an idea of how much financing you'll be approved for, which can come in handy. Knowing what you can afford will save you time by leading you straight to vehicles in your price range.

In addition, we have competitive used-vehicle loan rates to save you money. Our knowledgeable staff is eager to help you. So contact us today--before you hit the road.
 

AUTO PURCHASERS

Check our GAP Advantage BEFORE You See the Dealer! When a car is totaled, most insurance policies only cover the value of the vehicle. Your loan balance could be considerably higher, especially if you choose 100% or 120% loan to value financing options.

GAP Advantage waives the difference between your primary insurance settlement and the payoff of your loan, including your deductible up to $1000. If you purchase GAP through the Credit Union, you receive an additional $1000 toward the purchase of a replacement vehicle financed through us!

If you’re in the market for a vehicle, compare the dealer’s coverage and cost with ours. We’re confident that you’ll find exceptional value here at the Credit Union. For more information, please call our Loan Dept. at 617-625-0898.
 

ACH Debit - An Easy Way To Pay Online

The options available to pay for goods and services online and over the telephone continue to expand. Most bills and many Internet purchases may be paid with an automated clearing house (ACH) debit from your account.

However, there are a couple of things you should be aware of before providing your financial information online or over the telephone:
1. By providing authorization over the Internet or telephone, along with routing and account numbers, you've authorized initiation of an ACH debit to your account for the purpose of purchasing goods or services. Use extreme caution when providing account information by telephone. It’s best not to give any information unless you initiated the call yourself and are certain you are dealing with a reputable business.
2. On the internet, make sure you're on a secure site before entering financial information. You’ll know you are when the http: prefix changes to https:, “S” for secure.
3. Information relating to the transaction (merchant name and transaction amount, for example) will appear on your monthly share draft/checking statements.
4. You have the right to place a stop payment order on an ACH debit transaction or to be credited for such a transaction if it's unauthorized. However, nothing replaces safe habits and efforts to only use secure sites and prevent your personal info from falling into others’ hands.
 

Making Sure Your loan Is Approved

Nobody likes getting turned down for a loan. And although we make every effort to approve all loan requests, it's sometimes necessary to deny an application--to protect the applicant’s financial health, as well as the credit union’s.

When the credit union denies a loan, it's because the applicant has either (1) a poor credit history or (2) a high debt-to-income ratio. Your debt-to-income ratio is the percentage of your total debt compared to income. For example, if each month you pay $400 toward debt with a $1,000 gross (before tax) monthly income, your debt-to-income ratio is 40%.

Although there's no magic ratio to shoot for, a rough guideline is that total debt shouldn't exceed 40% of total income. The credit union also weighs other factors, and requirements vary for different loans.

If your loan request gets rejected, here are a few things you can do to improve your chances for approval on your next application:
* Devise a plan to pay off old loans, including credit card balances, thus reducing your debt-to-income ratio.
* You may qualify to consolidate your loans and credit card balances into one loan with us; then stop overusing credit cards.
* Get a handle on your budget by comparing what you spend with what you earn. A budget can help you trim expenses and funnel money toward paying off old debts.
* Fix your broken credit history. We will work with any member who is sincere about re-establishing good credit.
* Bolster your income with a second job--temporarily--to help trim your debt.
 

REMINDER!

Government regulations limit the number of electronic transactions on savings accounts to six per month. This includes electronic bill payment, automatic transfers to cover drafts, and CUSATalk transactions. Transfers made in person, by mail or through an ATM are unlimited. Please call if you have any questions.
 

FINANCIAL PROBLEMS? Talk to us!

If you are experiencing financial difficulty paying your credit union loans or other bills, you can avoid worse problems if you talk to us. Many times we can help by lowering your payments or restructuring your debts to the credit union.

If you have income but you’re finding credit card debt difficult to manage, a Credit Card Payoff Loan may be the answer for you. By using payroll deduction, you’ll receive our best rate and we’ll work with you until you’re back on track.

The most important thing is to stay in touch with all your creditors and explain why you are having difficulties. If you’re able to make regular payments of any amount, most creditors will work with you.