Lines of Communication - July/August Edition by CAP COM Federal Credit Union

Lines of Communication

July/August 2010

Pr od u En cts clo G se uid d e

Volume 26 • Number 4

Home improvement dreams come true | 2

Mechanicville’s Kim Conor and Gus Meinecke.

Inside: • Go Green! | 3 • Retirement trusts | 5 • Foundation golf event | 6

Q&A with Kim

Helping parents and teens plan for college. Q: As parents of a child headed to college, how can CAP COM help us prepare? A: Many parents are now receiving tuition bills and payment deadlines. Parents of first-year students may be seeing the bills for the first time. The College Bound Program can help you make the right decisions when paying tuition bills. We can help you select education loans for parents and students. We also help families navigate among the complexities of federal government lending options for subsidized and unsubsidized loans for students, and PLUS loans for parents.

Your child should also consider opening an account with the Credit Union instead of a bank on campus. We have a range of services and products to assist college students including: Young Adult Checking with a VISA® Debit Card and free ATM usage around the world*, iDeposit-24, Touch-24, Connect-24 (with online transfers for parents) and Mobile Banking. Feel free to call me for an appointment. Our College Bound Program can help you make the best decisions. *CCFCU will reimburse members with a Young Adult Checking Account (ages 15-22) for any ATM’s surcharge or foreign transaction fee.

Kim Donah, College Bound Specialist (518) 458-2195 ext. 3106 | kdonah@capcomfcu.org web.capcomfcu.org/collegebound

Dan, shown here at Hudson Valley Community College, is a Saratoga Springs native.

Dan Bellinger wants to be an engineer. After two years as an honors student at Hudson Valley Community College, Dan will soon begin courses at the University at Buffalo. CAP COM’s College Bound Program helped Dan find a loan to finance his fouryear degree from the University at Buffalo’s mechanical engineering program. “My friends ask me about my plans. I tell them CAP COM took care of the whole thing. Everyone thinks I’m smart, I just say, ‘I went to CAP COM,’” Dan said. College Bound Program • Workshops on essay writing, admissions, budgeting and college life. • Finding the funding: Helping families find the loans to pay for college. • Expert Credit Union staff on hand to assist you on your college journey.

“Everyone thinks I’m smart, I just say, ‘I went to CAP COM.’” – Dan Bellinger

Workshops College Essay Writing Craft an essay that gets noticed. Sessions from 6-8 p.m. at the Latham Branch at 4 Century Hill Drive. $60 fee. Limited seating for July 28, Aug. 4 and Sept. 14! College Admissions High school seniors and parents get tips about the admissions process. Oct. 5 from 6-8:30 p.m. at The Century House in Latham.

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July/August ‘10 | 1

President/CEO’s Message By Paula A. Stopera

2 Home improvement dreams come true Home Loan helps Mechanicville couple get a new deck and siding. 3 Go Green! Opt in for eStatements, eNotices and eLines. 4 Workshops Money & Me Summer Camp leads a host of great member workshops. Special Insert: Products Guide Tools for your financial life. 5 CAP COM Financial Services Retirement trusts for the next generation. PLUS: Build a nest egg. 6 Our Foundation Big Benefit Raffle winners, Charity Golf Classic and scholarship winners. 7 Career development for college students Summer interns learn new skills. PLUS: Youth Account benefits. 8 Don’t get declined, get Member Courtesy Pay Opt in to avoid declined payments. PLUS: Refinance your Auto Loan. Lines of Communication is published bimonthly exclusively for CAP COM Federal Credit Union members. MELISSA FECK Vice President Corporate Services ED BEHAN Marketing Manager MELINA Iacovone Marketing Coordinator ELI FANNING Editor LAURA L. REYNOLDS Designer WILLOW L. 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.

At CAP COM, we’ve been helping families make sustainable and smart financial choices since we opened our doors in 1953. The cover story of this newsletter about Mechanicville’s Kim Conor and Gus Meinecke is yet another example of how our affordable Home Loans improve lives. In an e-mail, Kim writes: “I wish you could see my house, it is so beautiful with what we did with the CAP COM Home Loan.” Messages like that remind us how great an impact the Credit Union can have. (See Page 2 for more.) Our sustainability efforts also extend beyond financial services. Our new Go Green! campaign is aimed at reducing our use of paper and taking a closer look at the paper we use. Go Green! includes a series of opt-in e-mail and web-only options including eNotices, eStatements and an e-mail only subscription to Lines of Communication. So, opt in and join us as we take another Our mission has never changed. We step toward Going Green! (See Page 3 for more.) remain devoted to What’s more, since our May newsletter, we’ve been maintaining the Credit using paper certified by the Forest Stewardship Council, Union as a progressive, which is a nonprofit organization devoted to encouraging safe and sound, the responsible management of the world’s forests. full-service financial Also in this issue, you’ll hear from members like Carmel institution for you. Patrick, a Troy resident and new Credit Union member who works as a director at the Schenectady Museum. In our tear-out Products Guide, Carmel tells us: “CAP COM really appreciates its members. With that level of service, they’ve won my trust and loyalty.” That type of member appreciation has always been our goal, from our Home Loans and College Bound Program to environmentally friendly banking options. As I reflect on our products and services and the member stories I hear each day, I see a theme of sustainability. It may be the first time we’ve used the term, but it’s not new to us. For more than five decades, we’ve seen ourselves as a locally based financial institution that seeks to deliver tools for a sustainable future. Our mission has never changed. We remain devoted to maintaining the Credit Union as a progressive, safe and sound, fullservice financial institution for you. Today, we offer many more products and services. But, the essence of what we do remains unchanged. Find out for yourself, visit capcomfcu.org, call us or drop by a branch location and find out how we can help you. Sincerely, Paula A. Stopera President/CEO

A new look, a familiar name

Our members call us CAP COM. Now, it’s official. Based on positive feedback, the Board approved the change in May. You’ll soon see more on our new logo and familiar name: CAP COM Federal Credit Union.

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Home improvement dreams come true Kim Conor has a new deck and backyard fence. But it’s the siding she prefers above all. “I wish you could see my house, it is so beautiful with what we did with the CAP COM Home Loan. I couldn’t be happier,” Kim wrote in a recent e-mail. The Mechanicville resident is one of CAP COM’s newest members. One of her first goals was to apply for a low-rate Home Loan to pay for home improvements.

“My CAP COM Home Loan was less expensive, in terms of rate, than at any bank. And, the thing that I absolutely love is: I do not have to use the whole loan. I can use what I need and take advances over several years,” Kim said. The draw period is one of several unique features of CAP COM’s Home Loans. Another unique feature is our skilled staff. “When I met with a representative at the Clifton Park Branch, she was so helpful and nice,” Kim said. Mechanicville’s Kim Conor and Gus Meinecke.

Home Loans as low as 2.99%

APR*

Our unique low-rate Home Loans cover all your needs – from home buying to home improvement to debt consolidation. We’ve also got low-cost refinance options that can help you lower monthly payments. Locally Serviced • Biweekly payments Mortgages • New Construction • Refinance Home Equity

Get started today! It’s easy to apply: • Online at web.capcomfcu.org/homeloans • At one of our convenient branches • By phone at (518) 458-2195 or (800) 468-5500 ext. 2924.

*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 loanto-value up to 80%. Other rates/terms available. Sample payment for 2.99% is $5.54 per $1,000. Rates were effective 6/29/10 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.

July/August ‘10 | 3

Opt in to eStatements, eNotices and eLines eStatements View your account and VISA® statements from the privacy of a personal computer in our secure Connect-24 web platform. Other features include: • E-mail notification when statements are ready. • Easy-to-read Adobe PDF format that can be printed or saved. • Secure access within Connect-24 with 128-bit encryption and SSL technology. • View copies of canceled checks from your eStatement. eNotices Like eStatements, an e-mail will direct you to pick up your eNotice within Connect-24. Also, you can get e-mail notices for insufficient funds through ACH or ATMs, certificate renewals, late payment notices and Member Courtesy Pay notices. Benefits include: • Delivery within 24 hours. • Save or print notices from your own computer. • Access your statement or notice using any web-enabled computer.

HOW TO Opt in eStatements and eNotices • Log into Connect-24 and click “Online Services.” • Then click “Enter,” under “eStatements.” • Click on “Preferences” and choose to receive online eStatements and eNotices. You’ll need to accept the disclosure to continue. • Cancel at any time by updating your “Preferences” within eStatements to “U.S. Mail.” VISA eStatements • Log into Connect-24, click on “Online Services,” and then click on “Enter,” located under the “Infolink” for online access to your credit card. • After VISA Account information appears, click on “Online Services” and then on “enroll in eStatements.” • If you have questions about eStatements, e-mail estatements@capcomfcu.org. eLines Opt in for eLines by filling out a short form at capcomfcu.org/gogreen. We’ll send you a bimonthly e-mail with a link to the web version of the newsletter. Don’t wait for postal delivery. Get a first look at the content (and then some) of our Lines of Communication. The web version of Lines can be read page-by-page on a computer screen, just like the printed copy.

4 | July/August ’10

Workshops CAP COM hosts informational workshops on topics that matter to you. Doors open a half hour before each workshop and reservations are required. For more information or to RSVP, contact the Training Department at training@capcomfcu.org or call (518) 458-2195 ext. 3168. Unless otherwise indicated, workshops are free. Homebuyers Workshop If you’re thinking that this is the time to buy a home, we’ve got the answers you need. Sept. 21 | 6-8 p.m. Doors open at 5:30 p.m. Main Office Branch 18 Computer Drive East Online Bill Payment Learn how to set up and use this convenient program.

Workshop RSVP Training Department Call: (518) 458-2195 ext. 3168 E-mail: training@capcomfcu.org Include in your RSVP: Name Address E-mail and phone number Number of attendees

Sept. 28 | 6-8 p.m. Training Center 18 Computer Drive East, Albany Money & Me Summer Camp For kids on summer vacation, CAP COM’s Money & Me Summer Camp is a great option. The camp teaches teens how to manage money and make it work for them. CAP COM is the only local financial institution offering this program!

Dollars & Sense Budgeting for Young Adults This two-hour session provides valuable tips on setting financial goals, developing a basic budget and strategies for staying within an established budget. And, the best part is – it’s free!

July 26 - 30 9 a.m. to noon each day For members ages 14-18 Training Center 18 Computer Drive East, Albany Limited seating! Call today.

Sept. 23 | 6-8 p.m. Training Center For young adult members ages 18-25 Training Center 18 Computer Drive East, Albany

Summer intern Rosa Richburg.

Money & Me Summer Camp Sign up at capcomfcu.org. Contact camp organizer Carie Sala at csala@capcomfcu.org or (518) 458-2195 ext. 3671.

Great Escape FUNday Join us for some family fun on Sunday, Aug. 8 at the Great Escape FUNday in Lake George, N.Y. Tickets are $27 each and are on sale now at branch locations. Adults and children age 3 and older must have a ticket for admission. A FUNday ticket package* includes: • Admission tickets • Wristband: Free lunch, fountain soda, iced tea or lemonade • Parking pass • FREE souvenir photo voucher Park hours are 10 a.m. to 8 p.m. and the Looney Tunes Park will open at 9 a.m. exclusively for CAP COM families. *Limited supplies. All sales final rain or shine.

Important Dates AUGUST 8 Great Escape FUNday Join us at the Great Escape and Splashwater Kingdom in Lake George, N.Y. SEPTEMBER 4 & 6 Closed Labor Day holiday 14 Open late Branches open at 9:30 a.m. due to Credit Union staff training.

CAP COM Financial Services

July/August ‘10 | 5

(518) 782-0209 | (800) 688-1045 | Fax (518) 782-5433 www.capcomfinancial.com

Retirement trusts for the next generation Many of my clients are proud of the discipline and sacrifice that helped them build rock-solid retirement accounts. But for some, one critical piece of financial planning remains incomplete: Making plans to hand their retirement savings, or IRAs, down to younger generations. The financial advisors at CAP COM Financial can help build a strategy with tax benefits and safeguards for your beneficiaries. Imagine if your IRA helped pay for a grandchild’s education or first home. We can help create unique trusts that will pay out your retirement savings to your loved ones over the course of their lives. By naming a trust as beneficiary of your IRA, income tax liability can be stretched out over the beneficiary’s lifetime. What’s more, a trust offers a host of legal protections for you and the beneficiary.

A seamless transition When creating an IRA beneficiary trust, you must also name a trustee. Being a good trustee requires time and expertise. As a result, family members may not be well-equipped trustees. We have a solution. You can work with CAP COM Financial to hire a professional trustee and enjoy a seamless transition. We offer professional trust services through The Private Trust Company, N.A., an affiliate of LPL Financial. That service allows you to name a professional trustee and keeps CAP COM Financial as your advisory firm. Maintain the stewardship and objectivity we have delivered for years. Call us today to make an appointment. At a minimum, you’ll be able to sketch out a plan to build security for your heirs. Sincerely,

John M. Shartrand Chief Investment Officer

Building a safer nest egg Stock market investments can dip unexpectedly. The Great Recession has reinforced that lesson for many investors. On the other hand, a fixed annuity* is not affected by such market fluctuations. They are tools for building reliable retirement savings nest eggs and feature a steady tax-deferred interest income. That tax deferral will keep income taxes at bay prior to withdrawal. “A fixed annuity is an important piece of many retirement savings strategies. It provides guaranteed income and dependable investment growth,” said Steve Massey, Director of Advisory Services. CAP COM Financial offers access to a host of fixed annuities for stable retirement income. The annuities are classified as insurance products

because of the minimum guaranteed interest rate and income payout, which are spelled out by individual annuity policies. After retirement, payouts will stream in over a preestablished period or over the course of your life. Most annuities waive contract fees and pay out the contract value to a beneficiary after the death of the policy holder. Or, a surviving spouse can opt to continue the existing policy. Call us today at (518) 782-0209. *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.

CAP COM Financial Services - Securities and annuities products offered through LPL Financial and its affiliates, Member FINRA/SIPC, a Registered Investment Advisor. CAP COM Financial Services is a division of Capital Communications Federal Credit Union. CAP COM Financial Services and Capital Communications 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. Not NCUA Insured May Lose Value No Credit Union Guarantee

July/August ‘10 | 6

Capital Communications Cares

Foundation

Member wins $10,000; Raffle raises $55,000

Foundation tees off and raises money

CAP COM Members Julie Cooper and her husband, Scott, hold the Big Benefit Raffle grand prize check.

CAP COM Member Julie Cooper has an enviable choice to make: Buy a new motorcycle or take a Caribbean vacation with her husband, Scott. Julie, of Schenectady, was the $10,000 Grand Prize winner in CPI wins the CAP COM Cup! The Cup winners, from left, Greg Stopera, Jeff Frankel, Rick Travis the BIG Benefit Raffle drawing and Scott Troxell, stand with John Shartrand, Chief Investment Officer of CAP COM Financial. held in May at the Main Office. The 15th Annual Capital Communications Cares Foundation Golf Tournament In addition to $20,000 for seven held in mid-June helped raise $25,000 for local charities. winners, ticket sales raised $55,000 The event was held at Wolferts Roost Country Club and brought together for local charities like the Seton more than 120 golfers from several Capital Region companies. Health Foundation and CAP COM “Our annual Charity Golf Classic is always fun and fulfilling. But we play for Foundation scholarships. more than just fun. The tournament helps raise money for our Foundation’s “At first I thought I should do support of local charities,” said Paula A. Stopera, President/CEO and something responsible with it. Then, I Chairperson of the Foundation Board. talked myself out of that,” Julie joked. We’d like to thank the many partners who helped sponsor the tournament. President/CEO Paula A. Stopera said: “We are so grateful for the generous support of our members, volunteers and friends that allows us Communications Partner to help so many families in need.” Lunch Partner CPI provides a complete portfolio of Other winners: Jaeger & Flynn Associates, Inc. is a hardware, software and services for leading provider of insurance, employee $5,000 Second Place Prize: Tom your unique business and information benefits and financial services. and Barb Owen, of Waterford. technology needs. CPI’s locally $1,000 Prizes: Kristina O’Brien, Headquartered in Clifton Park, with a based team of talented professionals of Latham; Bobbie Talmadge, of branch office in Glens Falls, Jaeger & partner with clients to plan, design, Flynn supports its business and personal Schenectady; Janet Godfrey, of implement, manage and support Latham; Stephanie Flanagan, of Troy; client base through individually crafted technology solutions. benefits, insurance and retirement plans. and Rebecca Crocco, of Ballston Spa.

Career development for college students At CAP COM, we’re always planning for the future. That includes training future professionals. The Credit Union welcomes a group of up to 15 interns and seasonal employees each summer, nearly all of whom are pursuing a secondary degree. The summer jobs are a good training ground for a range of professions. Today, there are 15 young people at work in areas ranging from the Lending Support Department to in-branch service. Dylan Wilson, a sophomore at Philadelphia University, and Marissa Mastroianni, a sophomore at Lehigh University, are working as tellers in the Main Office. The pair agreed that working with members and CAP COM mentors to solve problems has provided a valuable lesson.

“Teamwork is always a good way to get something done, whether it’s working with a member or with fellow Credit Union staff to solve a problem,” Dylan said. The Credit Union summer employment program began in 2005 and has since helped give more than 50 young people professional experience. CAP COM partners with local colleges and programs run by the Capital District YMCA to recruit summer job candidates. “After graduation, some of our young employees take on full-time roles here at CAP COM. Some also move on to jobs in cities like New York or Philadelphia. We feel it is our responsibility to work with community partners and young adult members to advance career development,” said President/CEO Paula A. Stopera.

July/August ‘10 | 7

Scholarship winners Our Foundation recently named 15 students as winners of the annual Weidner “Ed” Davis Scholarships. The students are CAP COM members and each earned a $2,500 award. Congratulations winners: Amanda Carney, Latham David Stopera, Niskayuna Joseph Paradiso, Schenectady Sarah Mele, Loudonville Caitlin Dolan, Troy Lauren Livolsi, Troy Patrick Murphy, Liberty Chris Maher, Delanson Taylor Carey, Colonie Tracey Koch, Glenmont Laura Kowalchyk, Troy Adam Rozniewski, East Greenbush Sarah Thomas, Clifton Park Cicily Vachaparambil, Albany Elecia Druba, Troy

Growing up with CAP COM Every child needs to learn how to manage personal finances. Our Youth Accounts prepare children for financial independence. Call us at (518) 458-2195 or set up a Youth Account at any branch. A Youth Savings Account* is a perfect way for a child up to age 10 to save. Once a member, a child can learn while saving with programs like Great Grades (earn up to $40 per year for report cards) and seasonal Reading Programs (earn up to $15 per program by submitting drawings or book summaries). Our CertifiKID is a certificate designed to teach kids the value of savings. Add money to a CertfiKID at any time and the savings will grow faster. Available in 18- or 36-month terms, it’s perfect for a long-term goal. There is a penalty for early withdrawals.

Summer tellers Marissa Mastroianni, of Burnt Hills, and Dylan Wilson, of Niskayuna.

*Children under age 18 can open an account with a joint member who is at least 18 years old.

July/August ‘10 | 8

Refinance and save! Save for the first three months with 0%APR* Save over the life of the loan with rates as low as 3.49%APR** Refinance with our FAST and EASY Auto Loans! CALL Contact the Lending Support team at (518) 458-2195 or (800) 468-5500 ext. 2924. WEB Visit the Auto Loan Center at web.capcomfcu.org/autoloans. BRANCH Visit one of our eight convenient branch locations

* 0% financing will apply for three months from date of dispersal. For example, a loan dispersed April 15, 2010 will have a promotional period through July 15, when it would convert to the interest rate at the time of the application. Payments are required each month during the promotional period. ** Annual Percentage Rate. All rates quoted are for individuals with excellent credit and sustainable income who select our Automatic Payment Plan. Rate applies to a new auto loan with a 2-year term (2008-2011). Sample payment for 3.49% is $43.21 per $1,000. Rate is accurate as of 3/17/10.

Don’t get declined, get Member Courtesy Pay Transaction Declined

Sign up today! Go online: web.capcomfcu.org/courtesy-pay Call us at (518) 458-2195 and select option 5. Stop by any branch to complete an application.

CAP COM has rolled out two NEW Member Courtesy Pay options to protect you from being declined during VISA® Debit Card transactions or facing returned checks due to insufficient funds. Member Courtesy Pay and Member Courtesy Pay Plus will offer members a $500 overdraft cushion. Member Courtesy Pay covers checks and preauthorized deductions (ACH withdrawals). The Plus coverage includes regular coverage, but also protects Debit Card purchases and ATM transactions. Beginning Aug. 15, checks, ATM withdrawals and Debit Card payments without overdraft protection may be declined. Members can go online, call or ask at a branch to complete an opt-in form.

“This service will help our members avoid the embarrassment and inconvenience of an unexpectedly declined transaction. You’ll be opting in for peace of mind,” said Card Services Manager Lena Wilkins. After a member opts in, the Credit Union will pay overdraft transactions* up to $500. A $25 Member Courtesy Pay fee will be assessed for each transaction. Members will be notified by e-mail or postal mail after each Member Courtesy Pay transaction. CAP COM also offers overdraft plans such as a Checking Account Lineof-Credit and Transfer-from-Savings options. For members with these protections, Member Courtesy Pay is an added line of protection.

*CAP COM retains the right to decline Courtesy Pay Program transactions at its discretion. If CAP COM does not authorize and pay an overdraft, your transaction may be declined and a returned item fee will be assessed, if applicable.

Employees Spotlight CAP COM believes in recognizing employees for outstanding efforts in support of members and fellow employees. In March, the Credit Union recognized a manager with a Leadership Award and three staff members with TOP Awards.

Leadership Award Mary Beth Webster Manager of Lending Support Main Office 9 years of service

TOP Service Shoshannah Frank Car Buyers Associate Car Buyers Helpline Main Office 4 years of service

TOP Sales Robin Longo Financial Service Associate Colonie Branch 5 years of service

TOP Support Stephanie Salvato Lending Support Associate Main Office 6 years of service

Member Company Spotlight The Capital District YMCA is a charitable, non-profit organization whose mission is to put Christian principles into practice through programs that build healthy spirit, mind and body for all. The dedicated staff and volunteers of the YMCA faithfully apply themselves to helping those in need in every community where they serve, including Albany, Bethlehem, Glenville, Greenbush area, Greene County, Guilderland, Schenectady, Southern Saratoga County, Troy, and Camp Chingachgook on Lake George. The YMCA offers health and wellness programs for children, adults and seniors; and programs specifically geared toward helping seniors be more active. For more information about the Capital District YMCA, visit cdymca.org.

Swim lessons at the Southern Saratoga YMCA in Clifton Park.

Opt in to eStatements, eNotices and eLines today.

PRSRT STD U.S. Postage PAID Albany, NY Permit #186

18 Computer Drive East Albany, NY 12205-1168

July/August 2010

r o du En cts c lo Gu s ed ide

Mechanicville’s Kim Conor and Gus Meinecke.

Volume 26 • Number 4

of Communication

Lines Home improvement dreams come true | 2

Inside: • Go Green! | 3 • Retirement trusts | 5 • Foundation golf event | 6