LINES December 2013
Volume 29 • No. 5
of Communication
Community Partners Our volunteer work and charitable giving improve communities across the Capital Region. 4
Groundbreaking
Financial Center takes shape. 3
Opening ‘The Vault’ Celebrating our first student-run branch at Shen. 3
Lucky winners Read about members who won CAP COM contests in 2013. 6
A perfect gift Our Calendar of Dreams makes a great holiday gift. 7
Member Discounts Take advantage of our great offers. 11
Credit Union
Calendar President/CEO’s DECEMBER Tuesday, Dec. 10 Branches close at 4 p.m. for company-wide staff training. Glens Falls Branch will close at 3:30 p.m. Contact Center and all others close at 4:30 p.m. Saturday, Dec. 21 Holiday hours: Branches and drive thrus open late until 1:30 p.m. (Glens Falls will not be open.) Monday, Dec. 23 Branch lobbies open until 5 p.m. Drive thrus open until 5:30 p.m. Tuesday, Dec. 24 Drive thrus open at 7:30 a.m. and branches close at 1:30 p.m. in observance of Christmas Eve. Closed Wednesday, Dec. 25 In observance of Christmas. Tuesday, Dec. 31 All branches and drive thrus close at 4:30 p.m. JANUARY Closed Wednesday, Jan. 1 In observance of New Year’s Day
Lines of Communication is published bimonthly exclusively for CAP COM Federal Credit Union members. MELISSA CLEMENT Director of Strategic Marketing and Innovation LAUREN REAMON Marketing Office Administrator DebORAH Collins-RAPP Marketing Specialist JIM O’CONNELL Marketing Specialist NANCY SCALA Marketing Specialist ELI FANNING Editor LAURA REYNOLDS Designer WILLOW DANNIBLE Marketing Associate The Supervisory Committee is the members’ representative. Please address any situations you feel were not handled to your satisfaction by the Credit Union to: Supervisory Committee, P.O. Box 11279, Albany, NY 12211-0279.
Printed on 100% recycled paper with 30% post-consumer waste. Federally insured by NCUA
2 | December 2013
I’d like to invite you and your family in for a visit. Consider it a holiday invitation to see how we make a difference in our community and in the lives of members. Visit any branch in December and you’ll see that we are a drop-off location for the Albany Police Athletic League’s Pitch in for PAL holiday toy drive. The toy drive provides more than 2,500 toys to needy children at Christmas.
We make a difference in everything we do!
The toy drive is just a small piece of our volunteer efforts during the holidays. We are truly a community-minded Credit Union, though we never lose focus on our top goal: Being a financial partner you can trust. There is no better time than today to start a conversation that could brighten your New Year. Our low-rate Home Equity Loans can help you get inspired to finish a home improvement project or consolidate debt. We help people get ahead at any stage of life. Just ask the students working at our first-ever student-run branch at Shen High School. The young tellers are learning real-world job skills. See Page 3 for more.
Message
The Shen branch opened a few months after we held a Groundbreaking Ceremony for our new Financial Center. The new building will include a state-of-the-art branch, drive thru and headquarters for all our subsidiaries. We look forward to welcoming you to our new home next year. It will be less than a mile from our current Main Office near Wolf Road! Also in 2014, you will see that our Lines of Communication newsletter arrives on a seasonal schedule. You will get four great issues per year combined with a new monthly Member Express e-mail to keep you informed. We look forward to seeing you at CAP COM soon. Let us show you how we make a difference in everything we do!
Paula A. Stopera President/CEO
Rates as low as 1.74%APR* and zero down Take advantage of holiday deals with a low-rate Auto Loan! Our Car Buying Experts can help every step of the way to a new car to brighten your holidays. Apply now! • Call (518) 458-2195 ext. 2924 • Online 24/7 at www.capcomfcu.org • Visit any branch Car Buyers Helpline is an independent subsidiary of CAP COM FCU. * Annual percentage rate. Credit Union membership required for loan disbursal. Rate available on new loans only and not on existing CAP COM Loans. All rates quoted are for individuals with excellent credit and who select our Automatic Payment Plan. Representative monthly Auto Loan payment based on a two-year term at a 1.74% fixed Annual Percentage Rate is $42.43 per $1,000 borrowed. Rates are accurate as of 11/12/13 and are subject to change without notice. Ask about other terms and rates.
Contents 3 News from CAP COM Credit Union news and updates. 4 Community partners Going beyond the walls of our branches to make a difference. 5 Parents Page Get College Bound, scholarship, Youth Account and Santa visit details.
6 Lucky winners Three lucky members won great prizes from our contests.
10 CAP COM Financial Planning a bright future.
7 Annual Meeting Board candidates for re-election.
11 Get inspired Discover how our low-rate Home Equity Loans can help you.
8 News you can use Get tips on staying safe from fraud and improving your credit.
12 Rates remain low Discover our unique Adjustable Rate Mortgages.
9 Credit Union notices Important member notices.
Breaking ground for a new Financial Center
The CAP COM Board of Directors are joined by President/CEO Paula A. Stopera at a Groundbreaking Ceremony.
The Credit Union held a Groundbreaking Ceremony in August to celebrate the start of construction at a new Financial Center that will be located near our Main Office in the Wolf Road neighborhood. The Financial Center will include a state-of-the-art Main Branch and drive thru on 11 acres of land at 4 Winners Circle. Both Winners Circle and Marcus Boulevard will be extended to provide access to the new building and offer members easy entry off Wolf Road or on a Saturday morning walk in The Crossings Park.
The new three-story building will be less than a mile from our Computer Drive East location. “We are all so excited for the future. I believe that CAP COM members will come to see our Financial Center as a friendly one-stop shop for all their banking, lending and financial planning needs,” said CAP COM President/CEO Paula A. Stopera. CAP COM moved to Computer Drive East in 1988 with $110 million in assets and 25,000 members. The Credit Union now has $1 billion-plus in assets, 100,000 members, and an additional $1 billion in subsidiary assets.
The Financial Center is set to open in 2014 and will be home to Homeowners Advantage Mortgage Division, Old Heritage Realty Services, CAP COM Financial Services, our Foundation, Car Buyers Service, and a host of community-based programs like College Bound and School Banking.
Opening ‘The Vault’ at Shen Shenendehowa Superintendent Dr. L. Oliver Robinson, at left, checks out The Vault in Shen High School East. He is joined by, from upper left, Manager of Educational Initiatives Nicolle Monast, Southern Saratoga County Chamber volunteer Fern Hurley, Southern Saratoga Chamber of Commerce President Pete Bardunias, and Community Relations Manager Carie Sala.
CAP COM is now serving students and teachers at Shenendehowa High School in Clifton Park. The new in-school branch opened in October and is now taking deposits and giving cash withdrawals. Shen students operate this one-of-a-kind branch, which the students have named The Vault, with help from CAP COM staff members. The branch is not open to the public. “This is a chance for us to give high school students a firsthand experience and teach them the basics of banking at one of the largest local high schools. Student volunteers are learning realworld job skills and young members will start to take an everyday look at their Checking and Savings Accounts,” said Manager of Educational Initiatives Nicolle Monast.
Best Places for 10 years in a row!
CAP COM was named one of the Albany Business Review’s Best Places to Work in the Capital Region for the 10th year in a row. “CAP COM has a professional culture that encourages productivity and a healthy worklife balance. That culture allows our staff to better focus on the needs of our members, which keeps our award-winning service at a high level,” said CAP COM President/CEO Paula A. Stopera. CAP COM attracts and retains employees with outstanding benefits, numerous employee recognition programs, and a work environment that is professional and fun. CAP COM’s positive workplace environment engenders pride in delivering exceptional service. The Credit Union has been recognized by the Capital Region business news organization in each of the 10 annual Albany Business Review awards for Best Places to Work. The Albany Business Review surveyed 120 companies that signed up for the competition and honored 30 of them as Best Places to Work. The Business Review teamed with Quantum Workplace, of Omaha, Neb., to issue a confidential, online survey that helped evaluate work environments on a company-bycompany basis.
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partners CAP COM is a proud partner in communities across the Capital Region. Our staff and volunteers work hard to ensure that our local partnerships make a difference beyond the walls of our branches. The Credit Union and the CAP COM Cares Foundation have given countless volunteer hours and donated nearly $2 million since the Foundation was formed in 2003. Here are just a few community partnership highlights from 2013.
Supporting the ‘Y’ CAP COM donated $25,000 to the Capital District YMCA in August to support the Albany City School District’s After School Program. A budget shortfall would have forced the district to cut 300 spots in the After School Program and CAP COM helped jump start a $540,000 campaign to make up the shortfall
and allow kids from low-income families to participate. “We strongly believe in the importance of early childhood education in and out of the classroom. This program helps even more kids reach their full potential,” said President/CEO Paula A. Stopera.
Making Strides A team of 500 CAP COM members, staff and volunteers joined with thousands of walkers in Albany for the Making Strides Against Breast Cancer walk in October. CAP COM was again a proud flagship sponsor of the walk, which aims to boost awareness, education and fund-raising for breast cancer research. Our team raised $27,500 this year, adding to the nearly $1 million raised during the Credit Union’s 18-year partnership with Strides.
Partners in education CAP COM awarded $60,000 in scholarships to Capital Region students and completed a $200,000 multi-year gift to Hudson Valley Community College this year. These efforts and our unique College Bound Program reflect our ongoing commitment to higher education. We support scholastic achievement and help families make smart choices. Our Foundation celebrated scholarship winners at a special event in June. Those winners were in addition to several scholarships created for local high schools. Our gift to HVCC supports the Nursing Program, scholarships, and a new High-Technology Science Center.
4 | December 2013
>>>Parents Page
Kids meet Santa!
Preparing for FAFSA Parents and students can get a jump start on January by preparing for FAFSA today. The Free Application for Federal Student Aid, or FAFSA, is the application used by nearly all colleges and universities to determine eligibility for federal, state, and college-sponsored financial aid, including grants, educational loans, and workstudy programs. The U.S. Department of Education uses the FAFSA form to determine your expected family contribution. It is a “needs analysis” based on financial information that you and your child will provide including income, assets and other household information. FAFSAs for the upcoming academic year are available online at www.fafsa.ed.gov after Jan. 2. Tax documents you may need as you fill out the FAFSA include: • Federal tax information or tax returns including IRS W-2 information, for you and for your parents if you are a dependent student. • Records of your untaxed income, such as child support received, interest income, and veterans non-education benefits, for you, and for your parents if you are a dependent student. • Information on cash; savings and checking account balances; investments, including stocks and bonds and real estate but not including the
home in which you live; and business and farm assets for you, and for your parents if you are a dependent student. FAFSA Workshop Parents of high school seniors learn about FAFSA financial aid forms. Tuesday, Jan. 7 | 6:30-8:30 p.m. Doors open at 6 p.m. Albany Marriott,189 Wolf Road Reserve your seat today! • Call (518) 458-2195 ext. 3168 • E-mail workshops@capcomfcu.org • Visit www.capcomfcu.org/collegebound
Call for entries Nominate teens who show an outstanding commitment to community service and volunteerism for our Making a Difference Awards. Parents, teachers, friends, grandparents and teens themselves can make nominations. Winners will receive CertifiKID savings certificates of $300, $500 or $1,000.* See www.capcomfcu.org/scholarships for details. The nomination deadline is Feb. 3. Graduating high school seniors and members through age 25 pursuing an undergraduate degree in computer science or information technology can apply for the $2,000 Art Goedeke Memorial Scholarship. Application deadline is Feb. 3. Answer the question below in an essay of 500 words or fewer. See www.capcomfcu.org/scholarships for submission details. Essay question: Should employers use social media sites such as Facebook, LinkedIn, Twitter and Instagram to qualify or not qualify job candidates? Please tell us why employers should or should not use such social media sites.
*Award money will be deposited into an 18-month CertifiKID in the winner’s name. Penalties may be issued for early withdrawals. CCFCU and subsidiary employees, volunteers and their families are not eligible.
Visit select CAP COM branches in December to meet Santa Claus. All families get a free photo magnet during their visit. Reservations are not required. Santa at CAP COM Brunswick - Thursday, Dec. 5 from 4 p.m. to 6 p.m. Main Office - Saturday, Dec. 7 from 8:30 a.m. until noon Clifton Park - Saturday, Dec. 14 from 8:30 a.m. until noon Latham - Saturday, Dec. 21 from 8:30 a.m. until noon Learn more by calling Marketing Associate Willow Dannible at (518) 458-2195 ext. 3635.
Winter Reading Program Kids in grades K through 12 earn up to $15 ($3 per book)* by reading up to five books between Jan. 2 and March 31 as part of our Winter Reading Program. Book entry guidelines: • Ages 4 to 8 submit a drawing of a scene or the book cover. • Ages 9 to 12 submit a 50-word written summary. • Ages 13 to 17 submit a 100-word written summary. Making submissions Submit a signed entry form with each set of book entries. You can find entry forms at www. capcomfcu.org/readingprogram. • Submit entries to any branch. • Scan entry form and entries. Send them via e-mail to readingprogram@capcomfcu.org. • Fax entry form and entries to (518) 435-7224. • Mail entry form and entries to: CAP COM FCU Attn: Winter Reading 18 Computer Drive East Albany, NY 12205 *Children in our School Banking Program can include a copy in a sealed envelope on School Banking days. See website or ask an Associate for additional details, current rates, and disclosure information.
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LUCKY winners CAP COM held three fun contests in the last six months and three lucky members walked away with some great prizes. We congratulate the winners and encourage all members to stay tuned for more contests in 2014!
New floors in their first home Kyle Mitchell and Kelsey Wein are off to a great start. The young couple bought their first home in Latham with help from Licensed Mortgage Expert Eric Cruz and a few weeks later won a $2,500 sweepstakes prize from the Credit Union. “It was great news because we needed new wood floors and now we have them,” Kyle said. “Working with Eric at CAP COM was great. He answered every Mortgage question we had almost instantly and made the process easy.”
CAP COM Licensed Mortgage Expert Eric Cruz presents a $2,500 check to sweepstakes prize winners Kyle Mitchell and Kelsey Wein at their Latham home.
Eric is one of a team of experts who are part of CAP COM’s FirstTime Homebuyers Program. The Program features great one-onone service and two workshops each year at the Credit Union’s Main Office. All those who completed a Mortgage application with our Mortgage Division between July 1 and Aug. 31 were automatically entered for a chance to win the $2,500 prize.
Loan for a Corvette leads to Atlantis getaway
Corvette owner and lucky winner Scott Fontaine, at right, prepares for the Atlantis beach. Friends Jeff Dziarcak and Katie Dziarcak, and girlfriend Jessica Crandall, will join him on the trip.
Scott Fontaine is a lucky man. He took out an Auto Loan in June to buy a convertible Corvette and was recently picked as the winner of a Credit Union sweepstakes for a trip to Atlantis Paradise Island in the Bahamas. All members who completed a Home Equity Loan, Auto Loan or VISA® Credit Card application between May 13 and June 30 were automatically entered for a chance to win the all-expense paid trip for
$2,500 for using her VISA® Debit Card Janice Griffin just started using her VISA Debit Card more frequently. That turned out to be a smart move. Janice was recently picked as the winner of a special VISA Card sweepstakes that lasted from July through the end of September. Members were entered to win the $2,500 prize each time they 6 | December 2013
used their VISA Debit or Credit Card at checkout. Janice was the lucky winner from more than 3 million entries! “My kids have helped me get started using my CAP COM Debit Card at checkout. Right from the start, things are going well. I won $2,500,” Janice said.
Janice Griffin holds a winner’s sign in front of the North Greenbush Branch.
four to the Atlantis resort island. Soon after the contest ended, Scott got a call from the Credit Union’s Marketing Department. “At first when Deb in Marketing called me, I didn’t believe it. So, it took a while before I called back,” Scott said. Thankfully, he made the call back. Scott is now planning a New Year’s trip to the resort island with girlfriend Jessica Crandall and friends Katie and Jeff Dziarcak.
Annual Meeting Elections1 for three open seats for the Credit Union’s Board of Directors will be held at the meeting. The Nominating Committee has nominated three candidates for three-year terms.
Calendar of Dreams Our 2014 Calendar of Dreams helps the Foundation change lives.
Wednesday, March 19 Business Meeting begins at 5:30 p.m. Reception to follow. Albany Marriott 189 Wolf Road Albany, NY 12205 RSVP: Call CAP COM at (518) 458-2195 ext. 3113 by March 12.
Mark Marchand is the Vice Chairman of the CAP COM Group Board of Managers and has served on the Credit Union’s Supervisory Board Committee. He currently serves as a member of the Board of Directors. He was the Director of News and Editorial Services at RPI from 2010 until 2013. In 2007, he retired as a senior manager in Corporate Communications at Verizon Communications after 24 years. Marchand was a national spokesperson and performed functions ranging from community relations to media relations. He is an associate member of the Board of Managing Directors at Albany’s Parsons Child and Family Center. He is a graduate of the University of Massachusetts at Amherst, with a bachelor of science degree and a minor in journalism.
A Credit Union member since 1957, Edward Gilligan has served on the Board of Directors since 1993. He retired from the New York Telephone Company in 1997 after more than 41 years. He has been Chairman of the Board since 2000 and has also served on the Supervisory Committee and the CAP COM Financial Services Board. Other committees include: Volunteer Recognition/Training, Volunteer Recruiting, Volunteer Activities, and Nominating. Gilligan has also been an active volunteer with the Albany Police Athletic League and the Telephone Pioneers.
William Fitzpatrick grew up and attended high school and college in Troy, N.Y. While attending Hudson Valley Community College, he met his wife, Joan, and they have been married for 42 years. The couple has two daughters, two grandsons and is expecting a granddaughter in December. During four years in the U.S. Air Force, Bill achieved the rank of staff sergeant and served as a crew chief for DC-9 medical transport planes and F-100 fighter planes. Bill retired from General Electric after 34 years of service and has served on the Board of Directors since 2005.
Other nominations can be made by petition and must be submitted by Feb. 7, 2014. Petitions require signatures of 500 CAP COM FCU members. If you would like to be nominated by petition, please submit a signed certificate stating that you are agreeable to the nomination and will serve if elected. You must also provide a resume or bio including your education and experience. To obtain a blank certificate, call (518) 458-2195 ext. 3609 or visit www.capcomfcu.org. Nominations will not be accepted from the floor during the Annual Meeting and there will be no balloting if there is only one nominee for each vacant position. Nominations received from the Nominating Committee and from petition shall be posted in the Credit Union’s offices and on our website at least 35 days before the Annual Meeting.
Brighten a child’s life with a holiday present
Provide warm winter coats to local kids
Buy a $25 Calendar of Dreams for a chance to win money everyday! And, proceeds benefit Capital Region families in need. Each calendar has a three-digit number printed on the bottom. If your calendar number matches the New York State Lottery evening numbers drawing, you win a cash prize for that day! 2014 payouts include: • $25 for weekday winners • $50 for weekend winners • $100 or $250 for other select days A Calendar purchase can help feed a struggling family at Thanksgiving, bring holiday gifts to family shelters, or provide a new winter coat for an underprivileged child. Buy your Calendar of Dreams! • Ask at any branch • Visit www.capcomcares.org • Contact Theresa Petrone at (518) 458-2195 ext. 3553 or tpetrone@capcomfcu.org. The CAP COM Cares Foundation nurtures our community by supporting health and wellness programs; financial literacy and education initiatives; and causes that assist children and underprivileged families.
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ID#GC 01-204-499-07653
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Avoiding Fraud CAP COM protects members from identity theft and fraud with a combination of safeguards such as strict privacy policies and rigorous security standards. Our protection covers fraudsters who are active in many different ways including via text and on mobile devices. Mobile • Download Mobile Banking Apps from Google Play, the Apple App Store, and the Amazon App Store. • Don’t program Apps to automatically populate user names and passwords, just in case your device is lost or stolen. • Never make transactions using a public WiFi network. Fraudsters could intercept your data. • Download and install antivirus software on your smartphone. Text • Ignore text messages that appear to be from a financial institution and say something like: “Act now or your account will be suspended.” • Call to action: Messages that call for immediate action often lead to a fake webpage where you’ll be invited to enter personal data. Delete these messages.
Take charge of your credit score Your FICO credit score is an objective measurement of your credit risk. Your score can impact the credit offers and interest rates you are eligible for. The percentages listed below reflect each of the FICO categories used to calculate your score. 35% 30% 15% 10% 10%
Payment History Amounts Owed Length of Credit History New Credit Types of Credit Used
Here are a few simple ways that you can build better credit and raise your FICO score. Just keep in mind that repairing your score will require about 15 to 24 months of responsible budgeting. Check your credit report A regular check of your credit report for unauthorized activity is a very smart move. You can get a free credit report once each year from any of the three major credit bureaus. Visit www.annualcreditreport.com to get your free report.
CAP COM also suggests www.scoreinfo.org for specific information about FICO scores and even more ways you can improve your score. To get your up-todate FICO score, visit www.myfico.com. Set up bill pay reminders If there is one factor above all that can lift your score, it’s making your credit card and debt payments on time. CAP COM’s Connect-24 Web Banking System offers payment reminders and a dashboard view of your budget. That’s a great way to stay informed. What’s even better: Set up automatic payments through your credit card and lending institutions. Then, monitor your budget over time. Use your credit card responsibly A good rule of thumb is to keep your credit card balance at or below 30 percent of your credit limit. So, if you’ve got a $1,000 limit, you should use $300 as a personal benchmark. Please call (518) 458-2195 or visit a branch to talk with an Associate about improving your credit future.
In the spotlight In September, CAP COM recognized employees with TOP Awards for outstanding efforts in support of members and fellow employees. TOP Service Shannon Shuhart Branch Representative Main Office 4 years of service
TOP Support Chris Foundas Project Development Manager Main Office 1 year of service
TOP Sales Joe Scarchilli Financial Service Associate Latham Branch 2 years of service
Tricia Caputo Financial Reporting Analyst Main Office 4 years of service
TOP CUSO Dan Alix Car Buying Expert Main Office 4 years of service
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Leadership Awards Corrie Jayne Manager of Deposit Services Main Office 3 years of service
Barbara Borter Branch Manager Brunswick Branch & North Greenbush 13 years of service
Dan
Joe
Chris Barbara
Tricia
Shannon
Corrie
At a glance
Hours & Locations
Phone
Branch and ATMs
ATMs
CCFCU Phone (518) 458-2195
Albany (Main Office and mailing address) 18 Computer Drive East Albany, NY 12205-1168
Clifton Park Food Court, Clifton Park Center
CCFCU Toll Free (800) 468-5500 CCFCU Fax (518) 458-2261 Touch-24 (518) 458-8986
Brunswick 799 Hoosick Road
Touch-24 (800) 634-2340 Toll Free
Clifton Park 1744 Route 9
Branch hours Monday to Wednesday Lobbies 8:30 a.m. - 4:30 p.m. Drive Thrus 8 a.m. - 5 p.m.* Thursday and Friday Lobbies 8:30 a.m. - 6 p.m. Drive Thrus 8 a.m. - 6 p.m.* Saturday Lobbies Drive Thrus
8:30 a.m. - 12:30 p.m. 8:30 a.m. - 12:30 p.m.
*See Early Drive Thru Hours below. See Glens Falls hours at right.
EARLY DRIVE THRU HOURS Monday to Friday Main Office & Latham 7:30 a.m.
Cohoes 219 Ontario Street Colonie 341 New Karner Road
SURCHARGE-FREE ATMs SUM Networks and CO-OP ATMs STEWART’S SHOPS ATMs Use any Stewart’s Shops ATM for just $1 per withdrawal.* Locate ATMs at www.capcomfcu.org or with our Mobile Banking Apps. *Initial fee is $2 and CAP COM will reimburse members $1 for each withdrawal within 24 hours.
Glenmont 384 Bender Lane Glens Falls 8 Glens Falls Tech Park Mon. - Fri. 8:30 a.m. - 4:30 p.m. Closed for lunch daily 10:45 a.m. - 11:30 a.m. Latham 4 Century Hill Drive Niskayuna 582 Balltown Road North Greenbush 233 Route 4
Web and Mobile www.capcomfcu.org Secure Web Banking with Mobile Banking and Remote Deposit Apps for iPhones and Android devices. Dial **4CAPCOM Dial **4CAPCOM (**422-7266) on your smartphone to instantly connect to all of our mobile services. MSG & data rates may apply.
>> Notices Membership Notification of Abuse and Action Abuse can involve any Credit Union employee, volunteer or member. Should an abusive action occur on Credit Union property, the Credit Union may suspend the services of any party involved. As defined by the Credit Union Board of Directors, abuse includes but is not limited to: physical abuse, verbal abuse, harassment, physical damage to Credit Union property, or physical damage to the property of an employee or volunteer. In addition, if a member causes a financial loss or is knowingly involved in a fraudulent or otherwise illegal transaction, the Credit Union retains the right to suspend services. Should any action be taken, written correspondence will be sent to the individual’s address on record.
Managing your IRA account CAP COM makes it easy for you to manage your IRA retirement savings online with our IRA Center. Visit our website at www.capcomfcu.org and click on the “Invest” tab. Then choose “Retirement Central.” Please note: Payments from your IRA are subject to federal income tax withholding, unless you elect no withholding. You may change your withholding election at any time prior to your receipt of a payment. To change your withholding election, contact us for the appropriate form. Withholding from IRA payments, when combined with other withholdings, may relieve you from payment of estimated income taxes. However, your withholdings election does not affect the amount of income tax you pay. You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are insufficient. Please consult a tax professional for advice. If you are interested in making changes to your IRA withholding election, contact our IRA Department at (518) 458-2195 or (800) 468-5500 ext. 3932. December 2013 | 9
CAP COM
Financial Services Investing Helping you create and preserve wealth
Retirement Planning
Retirement portfolios Build a solid portfolio before you retire that matches your retirement goals.
Financial Advisors who seek to deliver strategies for a bright future.
Your plan To retire at 65, many people will need a 20-year retirement plan. Social Security and employeesponsored plans may not be enough. We’ll help you start early and invest wisely. Your income Help project your retirement income and build a smart distribution plan.
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Your estate Help your family inherit the full value of your estate and plan for long-term care needs. Your strategy Design a strategy to match your retirement needs. Make smart choices and manage your IRAs and pension plans with us.
Stocks and bonds Select investments that are suited to you. We’ll review options such as stocks, mutual funds and U.S. Treasury securities before building your strategy. Tactical Wealth Management Our time-tested approach that lets your portfolio access a variety of markets while mitigating volatility. Let us help you address your unique goals.
o Member Protection Credit
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Home
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Auto
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Life
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Future
Insurance Our Member Protection Program is your one-stop shop for securing your future. Credit Payment protection for loans and credit cards that provides a safety net for you and your loved ones after a financial difficulty, total disability or death.1 Includes life and disability protection and Guaranteed Asset Protection or GAP Insurance for Auto Loans Home Comprehensive coverage tailored to your individual home and possessions. Make your plan for quality coverage with standard features and options to enhance your protection. Auto Enjoy low rates, great features and options to enhance your protection.
Life Insurance Help your loved ones stay in your home and pay monthly bills. Permanent or term life insurance delivers peace of mind. Future Fixed Annuities2 help you make your money work harder. Enjoy tax deferrals and rate guarantees by investing for specific periods. Discover a way to receive income for your entire life. Protect assets and give yourself choices if you need extended care at home or at an assisted living facility with Long-Term Care & Disability Insurance.
CAP COM Financial Services and CAP COM Investment Services - Securities offered through LPL Financial, Member FINRA/SIPC. Annuities offered through LPL Financial or its licensed affiliates. A Registered Investment Advisor, CAP COM Financial Services is a division of CAP COM Federal Credit Union. CAP COM Financial Services and CAP COM Federal Credit Union are not registered broker dealers and are not affiliated with LPL Financial. Financial planning, tax preparation and insurance services offered through CAP COM Financial Services, LLC, a Registered Investment Advisor. LPL Financial Representatives offer access to Trust Services through The Private Trust Company, N.A., an affiliate of LPL Financial. 1 Certain exclusions and limitations may apply. Payments up to the insurance contract limit if the borrower becomes totally disabled due to a covered accident or illness. You must work a minimum of 25 hours per week to select this coverage. 2 Fixed annuities are long-term investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to 59 ½ are subject to 10% IRS penalty tax and surrender charges may apply. Insurance products are offered through separate companies and are not a product of, nor are an obligation of, the credit union. Not NCUA Insured
10 | December 2013
May Lose Value
No Credit Union Guarantee
Talk with us! Call CAP COM Financial Services at (518) 782-0209 and set up a meeting. Our LPL Financial Advisors are salaried, non-commissioned professionals who provide unbiased retirement, insurance and estate planning for our members.
Get inspired Lock in a low fixed rate Home Equity Loan and draw money over four years! Find happiness in your home’s equity with a kitchen, bathroom or family room remodel. You can also consolidate debt or pay for college tuition. There are so many options! Get a fixed rate from 3.99%APR* for 10 years with a four-year draw period.* Make it easy: • Convenient payment options and free appraisals. • Loan amounts up to $150,000 • Fast and easy closings. Start today! • Call (518) 458-2195 ext. 2924 • Apply online at www.capcomfcu.org • Visit any branch *Annual Percentage Rate. Mortgages in New York State only. All Line-of-Credit loans require a minimum initial advance of $5,000 and a minimum limit of $10,000. The rate quoted is based on a 10-year term with a four year draw based on a loan-to-value up to 80% in first mortgage position. Other rates/terms available. Sample payment for 3.99% Annual Percentage Rate for 10 years is $10.13 per $1,000. Rates were effective 10/31/13 and are subject to change without notice. New York State Mortgage Tax and county filing fee will apply. Additional closing costs may apply. Credit Union membership required for loan disbursal. CAP COM FCU NMLS Identifier: 401261.
>> Member Discounts
Enjoy these special offers* by paying with a CAP COM VISA® Debit or Credit Card. 10% off at Freihofer’s
Get 10% off purchases at Freihofer’s Bakery Outlets in Troy, Schenectady, Colonie and Saratoga Springs. Cannot be combined with other discounts.
20% off a CD or DVD at FYE
50% off membership
Visit www.capcomfcu.org/discounts and print our FYE coupon. Present it and get 20% off any regularly priced CD or DVD $12.99 or up.
Get 50% off an annual membership at A New England Nanny. This company is a leading provider of in-home child care services in upstate New York.
*Member Discount offer details vary by vendor. Program effective as of 2/1/10 and updated as of 11/15/13. Credit Union does not endorse or guarantee the products or services of Member Companies and is not liable for consequential direct or indirect damages which may result from the purchase of a good or service. Previous purchases excluded. Program subject to change or cancellation without notice.
December 2013 | 11
LINES December 2013
PRSRT STD U.S. Postage PAID Albany, NY Permit #186
Volume 29 • No. 5
of Communication
Community Partners Our volunteer work and charitable giving improve communities across the Capital Region. 4
Groundbreaking
Financial Center takes shape. 3
18 Computer Drive East Albany, NY 12205-1168 Opening ‘The Vault’ Celebrating our first student-run branch at Shen. 3
Lucky winners Read about members who won CAP COM contests in 2013. 6
A perfect gift Our Calendar of Dreams makes a great holiday gift. 7
Member Discounts Take advantage of our great offers. 11
Act while rates are low! Our low-rate 30-year Adjustable Rate Mortgage* is perfect for a new purchase or refi. Enjoy lower monthly payments up front and the option of getting QuickCash as you need it over the first 10 years! Buy a home at a great price during the winter or complete a cash-out refinance to consolidate debt or pay bills. We’ve got fixed and adjustable rate Mortgage* options to meet every need! Don’t delay, lock in your rate today! • Call (518) 458-2195 ext. 3129 • Apply online at www.capcomfcu.org • Stop by any branch
*Mortgage products are offered by our Mortgage Team, Homeowners Advantage, which is an independent subsidiary of CAP COM FCU. Mortgages in New York State only. Adjustable Rate Mortgages (5/1, 5/5, 7/1) offer an additional QuickCash option – a 10-year built-in line of credit (up to 80% LTV) – at an additional .25% above the prevailing interest rate. Representative payment example for a 30 year 5/1 QuickCash Loan at 2.875% with a 3.088% Annual Percentage Rate is $4.15 per $1,000 borrowed. Rates are subject to change. Many other term, rate, and down payment options are available so please contact our Mortgage Team for additional details and opportunities. Home loan interest may be tax deductible. Consult your tax professional about deductibility in your situation. HOA is a Licensed Mortgage Banker - NYS Dept. of Financial Services. HOA NMLS Identifier: 290363. Principal Address: 453 New Karner Road, Albany NY 12205. CAP COM FCU NMLS Identifier: 401261.
12 | December 2013