LINES July/August 2013
Volume 29 • No. 4
of Communication
FUNday!
Great Escape on Aug. 11. 5
Saving made
fun!
School Banker Adam Pangburn makes deposits at school and earns cool prizes. His mom Jeanne is a volunteer who works with CAP COM staff to make saving fun for School Bankers in Nassau.
Stay cool. Save cash. Car Buying Experts like Dave Pearson help you have it all. 8
Scholarship winners $57,500 in awards for scholars and CAP COM members. 7
360° of protection Secure your future with our new Member Protection Plan. 11
Sporting discounts Enjoy sports-related Member Discounts. 11
Credit Union
Calendar President/CEO’s
AUGUST Sunday, Aug. 11 Great Escape FUNday Join us at the Lake George park. See our website and Page 5 for ticket sale details. SEPTEMBER Saturday, Aug. 31 & Monday, Sept. 2 Closed for Labor Day Weekend. Tuesday, Sept. 10 Most branches and drive thrus open at 8:30 a.m. due to company-wide staff training. North Greenbush, Brunswick and Glenmont Branches open at 8:45 a.m. and the Glens Falls Branch opens at 9 a.m. OCTOBER Tuesday, Oct. 1 Join us at our College Admissions Workshop. See Page 6 for more. Monday, Oct. 14 Closed for Columbus Day. Sunday, Oct. 20 Save the date and make plans to join us at Albany’s Strides Walk to support breast cancer research.
Lines of Communication is published bimonthly exclusively for CAP COM Federal Credit Union members.
We’re committed to great service and helping you in every way we can. You can see that in our new Contact Center options, which deliver answers on your terms. If you’re on hold for an extended time, we now give you a choice to speak with one of our Partner Associates, as you can see on Page 3. Our Partner Contact Center delivers great service and works with more than
Committed to helping you in every way we can. 300 credit unions across the nation. It’s the best of both worlds for our members. Our outstanding service extends beyond the Contact Center to community programs like School Banking and annual scholarships that now add up to $57,500 in awards. Just ask School Banking parents like Jeanne Pangburn who see firsthand how CAP COM is a true partner in teaching financial literacy. Jeanne is one of our great School Banking volunteers and tells us on Page 4 that she is intent on teaching her son Adam to save. “If there is one thing Adam is going to do when he gets older, it’s save his money,” Jeanne says. Drop by a branch, call us or visit us on the web to open a Youth Account or learn more about School Banking.
Message
CAP COM’s commitment to families and community covers every kind of need at every stage of life. Our new 360° Member Protection Program gives you a full menu of insurance choices to help secure your future. See Page 11 to start building your plan with us today. CAP COM’s unique College Bound Program provides access to free college planning consultations with our on-staff experts. See Page 6 to start your journey today. Our Foundation added five new Davis Scholarships this year and honored 23 young scholars and Credit Union members. I met the young scholars featured on Page 7 at an award ceremony in June. They are a hard working group who give me great hope for the future. CAP COM has so much to offer. Make time this summer to discover all the ways we can help you!
Paula A. Stopera President/CEO
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 | July-August 2013
Save time. Save money. Stay cool. Car Buying Experts like Dave Pearson help you have it all! They’ll find your next car, negotiate the best price, and secure a great trade-in value. They’ll track down every dollar of incentives while handling your low-rate Auto Loan. And Experts like Dave love cars as much as you do. They know everyone wants a cool car and they know how to get you there. See Page 8 or call (518) 458-2195 ext. 2924 to learn more! Car Buyers Helpline is an independently incorporated subsidiary of CAP COM Federal Credit Union.
Contents 3 News from CAP COM Credit Union news and updates. 4 Saving made fun! CAP COM joins with schools to teach kids to save. 5 Honoring local police Read about a special event to honor local police officers and some talented young artists.
6 Your college journey CAP COM’s experts help local families make smart choices. 7 Scholarship winners Young scholars get help from us. 8 Save on your cool car Car Buying Experts who know what’s cool and can help you! 9 Refresh yourself Happiness in your Home Equity.
10 Retirement tax tips Make plans to secure your legacy. 11 360° Member Protection Our new one-stop shop for all your insurance needs. 12 Backyard fun Apply for a Mortgage and be entered in win $2,500.
Coming soon:
Debit Cards in no time flat
New Partner Associates give you more choices Our Contact Center is getting a little help from some friends and now you can get answers when you need them. CAP COM’s convenient Contact Center delivers superior friendly service to our membership and always will. But as the needs of our members evolve, CAP COM is always looking for ways to improve service. That’s why we’ve teamed up with a Partner Contact Center based in Chicago that delivers great service and support to more than 300 credit unions around the country. Our Partner Contact Center is managed by Lending Solutions, Inc., a company selected by CAP COM because of their high service standards and roots in the credit union industry dating back to 1994. The company met a long list of CAP COM’s requirements and, in short, they were the most like us!
In fact, our Partner Contact Center Associates participate in training programs similar to CAP COM’s training sessions. During a six- to eightweek training program, our Partner Associates learn to handle member inquiries, payments and transfers through a safe and secure web portal. It’s the best of both worlds. Choose to get answers when you need them: • Members who contact us during periods of high call volume will be given a choice. Members can choose to speak with an Associate at our Partner Contact Center or continue holding for a CAP COM Associate. • Members can also access Web and Mobile Banking support through our Partner Contact Center at any time 24/7 by calling us at (518) 458-2195.
Apps and advice Your smartphone or tablet device is a powerful banking tool. Our Mobile Banking Apps for Android and iPhone let you view account balances, make transfers, pay bills, view check images, access Purchase Rewards and find the nearest branches or ATMs. CAP COM’s new Kindle Mobile Banking App is now available from the Amazon App Store! The App can be used with devices from firstgeneration Kindle Fire to Kindle Fire HD. With our Remote Deposit App, you can make deposits by uploading a picture of a check using your smartphone. These great tools make banking easier but they also present new avenues for fraud. That’s why we’ve created tips to help you stay safe.
CAP COM will begin offering Instant Issue VISA® Debit Cards during the next few months so you can get a new or replacement card instantly. The convenient Instant Issue cards will be a flat card with no raised account numbers and will feel like a hotel room key card. These new flat cards will work just like a regular VISA Debit Card. The Instant Issue cards will make getting a new or replacement Debit Card fast and easy. The new “unembossed” flat cards will be valid at any VISA merchant location using an electronic terminal. The card can be used for all mail, telephone and online orders. Look for more details about the new convenient flat cards in the coming weeks!
Tips for avoiding fraud • Download Mobile Banking Apps from Google Play, the Apple App Store, and the Amazon App Store to ensure authenticity. • Don’t program Apps to automatically populate user names and passwords, just in case your phone is lost or stolen. • Never make transactions using a public WiFi network where fraudsters could intercept your data. • Download and install antivirus software on your smartphone.
Web banking improvements New enhancements to our Connect-24 Web Banking System will offer improved security and an easier-to-use log-in process. Enhancements will take effect on the evening of Tuesday, Sept. 10 and will require all Web Banking users to validate new user names and set up permanent passwords. Our September Lines of Communication newsletter will feature an easy-to-use guide for making user name and password changes. Web Banking enhancements will include: • Improved security and navigation. • Create a user name instead of using your member number or Social Security Number. • Log in using computers not recognized by Connect-24 by using text message authentication codes. Enroll up to two phone numbers for authentication.
Message and data rates may apply. For Remote Deposit, eligibility requirements apply. See www.capcomfcu.org/remotedeposit for details.
July-August May-June 2013 | 3
Saving made
fun!
Adam Pangburn recently graduated from Donald P. Sutherland Elementary School in Nassau. He is the youngest of three siblings and his mom Jeanne, who is a CAP COM School Banking volunteer, had some graduation advice. “If there is one thing Adam is going to do when he gets older, it’s save his money. He knows you just can’t buy everything you want,” Jeanne said. Jeanne has worked hard to teach her children that saving means sacrifice. She believes strongly in those lessons, which is why she became a School Banking volunteer at the elementary school. The school finished the year with 125 School Bankers. School Banking is just one part of CAP COM’s Youth Programs. Kids can earn up to $30 a year with our Reading Programs and get $10 per report card with our Great Grades Program.* Open a new Youth Account Kids have fun while learning to save! • (518) 458-2195 • www.capcomfcu.org • Visit any branch Discover more about School Banking Sign up for next school year with as little as one dollar! • Call (518) 458-2195 ext. 4656 or send an e-mail to schoolbanking@capcomfcu.org. • Visit www.capcomfcu.org/schoolbanking • Ask at any branch location. *Must be a member to participate.
School Banking Volunteer Jeanne Pangburn and her son Adam join School Banking liaison Paige Clawson and Educational Initiatives Manager Nicolle Monast at Donald P. Sutherland Elementary School in Nassau.
4 | July-August March-April 4 | May-June 2013 2013
Youth Calendar July Great Grades Program Kids earn $10 per quarter for every report card. The next deadline is Aug. 1. Call us at (518) 458-2195 ext. 4656 or visit www.capcomfcu.org/greatgrades for more details.
August Great Escape FUNday Join us Sunday, Aug. 11 at the Great Escape in Lake George. Tickets are $28 each for CAP COM members.* Save up to 50% off regular price! Tickets include: Admission, parking, lunch and Coca-Cola fountain drinks with souvenir cup. Buy tickets: • (518) 458-2195 • www.capcomfcu.org (Online sales end July 21) • Visit any branch *You must be a CAP COM member to purchase tickets. CAP COM FCU is not an agent of the Great Escape / Six Flags Theme Park and shall not be held responsible for any incidents while attending the park. Tickets available while supplies last. All ticket sales final, rain or shine.
September
Honoring local police departments CAP COM donated $2,000 to eight local police departments and celebrated children’s art projects at a special National Police Week event in May. During a special ceremony at the Main Office, students from 10 local schools joined police officers to receive $250 department donations and special awards. The students created prize-winning illustrations showing what it means to be a police officer and were awarded a $50 VISA Gift Card.
Police officers from Colonie, Cohoes, Rensselaer County Sheriff’s, North Greenbush, Bethlehem, Niskayuna, Glens Falls, and New York State Police Foundation received donations. Students from school districts ranging from Troy to Bethlehem received gift cards. National Police Week is celebrated each year in mid-May to honor those who protect and serve.
Summer Reading Program Kids in grades K to 12 earn up to $15 ($3 per book)** by reading up to five books by Sept. 15. Book entry guidelines • Ages 4 to 8 submit a drawing of a scene or the cover. • Ages 9 to 12 submit a 50-word written summary. • Ages 13 to 17 submit a 100-word written summary. Making Reading Program submissions Submit a signed entry form with each set of entries. Find forms here: www.capcomfcu.org/ readingprogram. **Must be a member to participate.
May-June July-August May-June 2013 2013 || 55
Take charge of your college journey “Many families and students are choosing colleges that are beyond their financial means. That’s where we can step in and help you and your child make a smart college choice.”
From choosing the right college to completing FAFSA financial aid forms to building a smart financing plan, CAP COM’s College Bound Program is with you every step of the way. College Admissions Workshop High school seniors and parents learn about admissions, applications, scholarships, financial aid and smart financing plans.
Tuesday, Oct. 1 | 6:30-8:30 p.m. Doors open at 6:15 p.m. Albany Marriott, 189 Wolf Road in Colonie
- Certified College Planning Specialist Ryan Chenot
Ryan Chenot Certified College Planning Specialist (518) 458-2195 ext. 3170 rchenot@capcomfcu.org
Set up a free consultation today! College Bound features free consultations with our College Planning Specialists and a range of resources that support parents and students preparing for college.
Kim Donah Certified College Planning Specialist (518) 458-2195 ext. 3106 kdonah@capcomfcu.org
In the spotlight In May, CAP COM recognized employees with TOP Awards for outstanding efforts in support of members and fellow employees. TOP CUSO Darlene Cherubin Client Service Associate CAP COM Financial Services 4 years of service
TOP Sales John Derubertis Financial Service Associate Main Office 8 years of service
TOP Leadership Awards Dan Fruscio Branch Manager Niskayuna & Colonie Branches 6 years of service
TOP Service Marie Barone Financial Service Associate Colonie Branch 4 years of service
TOP Support Cindy Calderone Project Development Manager Main Office 32 years of service
Shane Shoemaker Risk Management Specialist Main Office 1 year of service
John
Cindy
6 | July-August 2013
Shane
Dan
Marie
Darlene
Celebrating scholars Scholarship recipient Abigail Weaver presents all of our young scholarship winners.
Foundation adds five scholarships and gives away $57,500! The CAP COM Cares Foundation recently named 23 local students as winners of our annual $2,500 Weidner “Ed” Davis Scholarships and Harold Horning Scholarships.* The Credit Union added five Davis Scholarships this year to help more CAP COM members pursue their dreams. Congratulations winners: Rachel Albano Marina Boschi Elizabeth Bruno Danielle Chiudina Kiera Clark Hayley Faranda Mikayla Gowett Arielle Grober
Audrey Gunther Robert Hannan Emma Hartman Kristi Krulcik Sarah Kruzinski James Mans Kyle Marra Linda-Lee Navarette
Sanje Harris-Richardson Katelyn Roddy Steven Shadick Anthony Sidoti Amanda Stevens Sean Tilley Abigail Weaver *Horning Scholarship winners are selected from families of employees and volunteers.
CUNA Mutual’s Jim Langer tees off.
A win for Colonie’s finest
Putting the ”Fun” in
Fundraising Golfing for a good cause The 18 Annual CAP COM Cares Foundation Golf Tournament held in mid-June helped raise more than $40,000 for local charities. The event was held at Wolferts Roost Country Club and brought together more than 140 golfers and volunteers from many Capital Region companies.
Colonie Police Officer Rich Barber won the BIG Benefit Raffle top prize. Rich picked up his $10,000 check from CAP COM’s John Derubertis, who sold 372 tickets! Thanks to all who helped the Raffle raise more than $66,500 to help the Foundation support local community organizations. BIG Benefit Raffle winners
th
We thank our major tournament sponsors: CUNA Mutual Group NES Group
$10,000 Grand Prize: Rich Barber $5,000 Prize: Anne and Ed Tribley $1,000 Prizes: Cicely Bynoe, Tom Pooler, Lauren Kendall, Kevin Smith, Colleen Kirch and Fran Bliss.
July-August 2013 | 7
Your chance to
WIN!
Use your Card for more chances to win* $2,500! Every time you use your CAP COM VISA® Debit Card or Credit Card between today and Sept. 30 you’ll be entered for a chance to win a $2,500 account deposit. There is no fee to use your card, so swipe, sign or buy online for more chances to win! Use your Debit or Credit Card for everything you need to get out there this summer.
It could be you!
CAP COM Member and Army National Guardsman Adam LaMountain won $2,500 last year!
*No purchase or transaction necessary to enter or win. Ends 9/30/13. Open to CAP COM FCU debit card and credit card cardholders who are legal US residents, 18 or older at time of entry. See full official rules for alternate method of entry and odds of winning. Subject to full official rules at www.capcomfcu.org/sweeps. Void where prohibited. Sponsor: CAP COM FCU, 18 Computer Drive East, Albany, NY 12205.
Everybody wants a cool car Let our Car Buying Experts get you there! Our Car Buying Experts believe that almost every car has something cool to offer − even minivans! And, we know that cool features should always be balanced by smart choices and money-saving offers. Our Experts can find your car, negotiate the best price and secure the best trade-in value. Just call and ask − we’ll take care of everything, including lease negotiations that can lead to great offers! Tell us about the cool and cutting-edge features you’d like to have. Or, maybe just you want a Corvette. We understand. We love cars too.
Discover rates of 1.99%APR* for Auto Loans up to five years. That’s a 1.99%APR fixed rate on vehicles with model years from 2010 to 2014. Here’s your plan: • Tell us the type of vehicle you want. We’ll shop car dealerships near you. • We’ll negotiate the best price including trade-in value. Then, we’ll schedule a test drive. • We’ll track down all your rebates and incentives so you save every dollar possible.
I’m cool! I have heated seats, Bluetooth, DVD and can fit the whole family, plus the dog!
Save money and start today! • Call (518) 458-2195 ext. 2924 • www.capcomfcu.org • Visit any branch
I’m cooler! Can you say lease? Time to feel the breeze as I go from 0-60 mph in 10 seconds!
Car Buyers Helpline is an independently incorporated subsidiary of CAP COM Federal Credit Union. * Annual Percentage Rate. Rates available for new CAP COM Auto Loans only. To refinance an existing CAP COM Auto Loan, please call the Credit Union for rates and loan information. The rates quoted are for individuals with excellent credit who select our Automatic Payment Plan. Individuals with less than excellent credit and/or who do not select our Automatic Payment Plan may be offered a higher rate. The monthly payment for each $1,000 borrowed at 1.99% for a 4 year term is $21.70 and the monthly payment for each $1,000 borrowed at 5.49% for a 4 year term is $23.26.
8 | July-August 2013
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.
Get ahead, feel refreshed! Our Home Equity Loans can help you make a big splash with rates as lows as 2.99APR*!
Refreshing ideas
Attractive features
Home Equity Loans are a smarter way to refinance your Mortgage and save!
Lock in your low fixed rate and enjoy withdrawal periods of up to four years.**
Bring a backyard project like a new pool or a new deck to life.
Enjoy low closing costs and no escrow. We even pay for the appraisal!
Erase high-rate debt with a new loan and feel a sense of financial freedom.
Same-day approval with no branch visit needed to close the loan.
Pay for college tuition and bring dreams to life.
No pre-payment penalty so you can pay off the loan at any time with no fees.
Apply online 24/7! • Call (518) 458-2195 ext. 2924 • 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 loan-to-value up to 70% in first mortgage position. Other rates/terms available. Sample payment for 2.99% Annual Percentage Rate for 5 years is $17.97 per $1,000. Sample payment for 2.99% Annual Percentage Rate for 10 years is $9.65 per $1,000. Rates were effective 6/20/13 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. CAP COM FCU NMLS Identifier: 401261. **If credit qualified.
July-August 2013 | 9
CAP COM
Financial Services
Tax tips for retirement
A tax-efficient retirement plan can help you and your heirs keep more of your hard-earned wealth. Building a tax-smart plan can be complex but these simple tips and advice from our Financial Advisors can help you make wise choices.1 Make it easy for your family Naming beneficiaries will keep your assets out of probate court and protect your loved ones from unnecessary tax penalties. What’s more, naming a spouse as beneficiary opens up options such as a marital deduction for the federal estate tax. There are times when transferring assets into an irrevocable trust can also be a smart move. Assets in an irrevocable trust are passed on free of estate taxes, potentially saving heirs thousands. See our story on this page for more on how to set up a trust. “We can help you make choices for a better retirement,” said Senior Financial Advisor Jim Faranda. Municipal bonds offer stability Municipal bonds can be a haven from taxes and stock market volatility. Interest paid on most municipal bonds is exempt from federal taxes and sometimes state and local taxes.2 The rule of thumb is: The higher your tax bracket, the more you may benefit from investing in “munis.”
Managing the IRS and your RMD Here’s a quick breakdown: The Internal Revenue Service (IRS) requires retirees to begin taking annual Required Minimum Distributions (RMD) from traditional IRAs and employer-sponsored retirement plans after age 70½. So, if your required distribution will push you into a higher tax bracket after age 70, it may be smart to begin taking withdrawals during your 60s. Failure to take the proper distribution can result in a tax penalty equal to 50% of the required distribution.3 However, Roth IRAs do not require annual distributions and qualified withdrawals are tax free.4 So, you may choose to begin withdrawing assets held in a Roth IRA after you have exhausted other sources of income. Jim Faranda Senior Financial Advisor
This article was prepared by McGraw-Hill Financial Communications and is not intended to provide specific investment advice or recommendations for any individual. Consult your financial advisor if you have any questions. Because of the possibility of human or mechanical error by McGraw-Hill Financial Communications or its sources, neither McGraw-Hill Financial Communications nor its sources guarantees the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. In no event shall McGraw-Hill Financial Communications be liable for any indirect, special or consequential damages in connection with subscribers’ or others’ use of the content. 1 For specific tax advice, please see a tax professional. 2 Capital gains from municipal bonds are taxable and may be subject to the alternative minimum tax. 3 Required distributions are calculated using the Uniform Lifetime Table, which takes into consideration your life expectancy. 4 Withdrawals prior to age 59½ are subject to a 10% penalty.
CAP COM Financial Services and CAP COM Investment Services - Securities offered through LPL Financial, Member FINRA/SIPC. 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 planning and insurance products 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. Not NCUA Insured
10 | July-August 2013
May Lose Value
No Credit Union Guarantee
Securing a legacy for your heirs
A trust is a great tool for achieving peace of mind and making it easy for your family. Setting up a trust through CAP COM Financial Services will establish smart management for your legacy. CAP COM Financial Services will build a strategy with tax benefits and safeguards for beneficiaries who have little financial planning experience. We offer access to professional trusts through an alliance with The Private Trust Company, N.A., an affiliate of LPL Financial. The service allows you to keep us in place as your advisory firm. A trust can help you maintain our signature stewardship and objectivity no matter what happens. Call us today to make an appointment. Let us define your financial legacy.
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.
360
o Member Protection Credit
•
Home
•
Auto
•
Life
•
Future
Your NEW one-stop shop for a bright and secure 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
Life Insurance from CAP COM Financial Services Life insurance to help your loved ones stay in your home and pay monthly bills.
Credit Life Insurance pays off your loan or credit card debt up to an insurance contract limit if you die prematurely.
Guaranteed-level policies with terms up to 30 years. Lock in your rate with a Term Life Insurance Policy.1
Credit Disability covers loan payments and credit card debt following an unexpected injury due to accident or illness. Get protection up to your insurance contract limit.1
A Single Premium Life Insurance Policy2 can play an important role in providing for your loved ones.
Guaranteed Asset Protection or GAP Insurance eases your burden if your car is stolen or totaled. GAP policies cancel or reduce the difference between the primary insurance settlement and the loan balance. 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.
Permanent Life Insurance+ with a payout value that builds over time.
Get a quote for Guaranteed Issue Life Insurance that is best for you. For members age 50 to 75. Other products from CAP COM Financial Services Annuities3 help you save by investing with tax deferral and rate guarantees for specific periods. They can offer 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. Get help with Part A and B for affordable and smart Medicare Supplement Insurance.
Call CAP COM Financial Services Insurance Representative Matt Clement today at (518) 458-2195 ext. 3174.
Securities offered through LPL Financial Services. Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. CAP COM Federal Credit Union and CAP COM Financial Services are not registered broker/dealers and are not affiliated with LPL Financial. 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. 2There may be tax implications as a result of selling assets within an investment portfolio. If contemplating this strategy, it is important to understand that life insurance is a long-term strategy to meet particular needs and liquidity may be affected. You should consult with us about the tax and legal implications of your situation. Life insurance policies contain fees and expenses, including cost of insurance, administrative fees, premium loads, surrender charges and other charges or fees that will impact policy values. All guarantees within the policy are based on the claims-paying ability of the issuing company. The death benefit protection offered by a life insurance policy can be a key component of a sound financial plan. 3Fixed 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. 1
Not Insured by Any Federal Government Agency Not a Bank Deposit
Not NCUA Insured
May Lose Value
No Credit Union Guarantee
>> Member Discounts Enjoy these special offers** by paying with a CAP COM VISA® Debit or Credit Card.
Tri-City Valley Cats
Join the YMCA
Discount tickets
Get 15% off ValleyCats gear purchased at the SouthPaw’s Den stadium team store.
Enjoy 10% off the cost of a monthly membership at any Capital District YMCA branch. YMCA programs help strengthen our community one member at a time.
Enjoy up to 50% off tickets at select New York Yankees home games with Ticketmaster. Find our special ticket web portal at www.capcomfcu.org/discounts.
1
1
Cannot be combined with other discounts.
**Member Discount offer details vary by vendor. Program effective as of 2/1/10 and updated as of 6/15/13. 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.
July-August 2013 | 11
LINES July/August 2013
PRSRT STD U.S. Postage PAID Albany, NY Permit #186
Volume 29 • No. 4
of Communication
FUNday!
Great Escape on Aug. 11. 5
18 Computer Drive East Albany, NY 12205-1168
Saving made
fun!
School Banker Adam Pangburn makes deposits at school and earns cool prizes. His mom Jeanne is a volunteer who works with CAP COM staff to make saving fun for School Bankers in Nassau.
Stay cool. Save cash. Car Buying Experts like Dave Pearson help you have it all. 8
Scholarship winners $57,500 in awards for scholars and CAP COM members. 7
360° of protection Secure your future with our new Member Protection Plan. 11
Sporting discounts Enjoy sports-related Member Discounts. 11
BRING some backyard
FUN
to your NEW HOME!
We’re giving away $2,500 cash to make it happen.
Simply apply for a Mortgage by Aug. 31 to be automatically entered for the chance to win!1 Discover why we are #1 in customer service and residential Mortgages in the Capital Region.2 Our Mortgage experts will make it easy by walking you through the entire process. There is no application fee and you can call to speak with a representative or apply online 24 hours a day, 7 days a week. Ask us about: • Financing up to 97% of the purchase price. • Mortgage3 options with no PMI or escrow. • Great rates with Mortgage solutions to meet your needs. • Down payment assistance for first-time homebuyers. Get started today! • Call 24 hours a day, 7 days a week to speak to a representative: (518) 458-2195 ext. 3129 • Apply online 24/7 at www.capcomfcu.org • Visit any branch
Backyard Fun Sweepstakes Abbreviated Rules. No purchase necessary. Must be legal US/D.C. resident, 18 or older to enter. Ends 8/31/13. Limit one entry per Mortgage application for a home purchase. Employees and volunteers of CCFCU, its subsidiaries, and their families are not eligible. IRS regulations may require that prize winnings be reported as income. If prize is not claimed within 7 days of written notification, it will be forfeited. Void where prohibited. Subject to complete Official Rules with alternate means of entry at: www.capcomfcu.org/backyardfun. 2 Best in Service based on 2012 Capital Region Living Magazine survey, #1 in residential Mortgages in the Capital Region based on Business Review List. 3 While many Mortgages are serviced locally there may be instances where this is not the case. Our Mortgage experts can provide you with information regarding the servicing of your particular loan. Mortgage products are offered by our Mortgage Team, Homeowners Advantage, which is an independently incorporated subsidiary of CAP COM FCU. Mortgages in New York State only. Representative payment example for a conventional 30-year 3.50% fixed rate mortgage with a 3.558% Annual Percentage Rate is $4.52 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. CAP COM FCU NMLS Identifier: 401261. Principal Address: 453 New Karner Road, Albany NY 12205. 1
12 | July-August 2013