Lines of Communication
Special Edition
April 2010
All new for you Low-rate Home Loans Home, auto and life insurance options 0%* Auto Loan Credit Union Car Sale NEW VISA速 Credit Card Payment Protection *See page 5 for details
Applying for our new 30-year Home Loan is so easy, it’s a “piece of cake!” 30-year adjustable-rate Home Loan
4.25%
APR*
We make it easy for you! There’s no need to visit a branch to apply. Just give us a call or visit our Web site. Our 30-year Home Loan offers: • A money-saving 4.25% APR* for the first five years and a convenient adjustable-rate cap to prevent surprises down the road • A unique five-year draw period • Low closing costs**
Compare and save money in your first five years: Capital Communications 30-year Adjustable Rate
Standard 30-year Fixed Rate
4.25%APR*
6.00%APR*
Monthly Payment Savings
$738
$900
$162
per month
per month
(or $9,720 total saved in the first 5 years!)
4.25%APR*
6.00%APR*
Interest Savings with Capital Communications
$30,486
$44,239
$13,753
5-year Interest Paid Capital Communications
Note: Rates are provided as examples only on a $150,000 loan with a 30-year term.
No monthly payment surprises in your second five years In this sample, in your second five years, your monthly payment would adjust to $899 per month. This is still lower than the $900 monthly payment for a fixed-rate loan.
Apply today. You could have approval in minutes if credit qualified. (518) 458-2195 • (800) 468-5500 • capcomfcu.org Albany • Clifton Park • Cohoes • Colonie • Glenmont • Latham • Niskayuna • North Greenbush Coming soon to Brunswick *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 adjustable and based on a loan to value up to 80% in first mortgage position. Other rates/terms available. Sample payment for 4.25% is $4.93 per $1,000. Rates were effective 3/16/10 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.
LINES
special edition preview
PRESIDENT/CEO’S MESSAGE By Paula A. Stopera
At Capital Communications, we pride ourselves on offering great member service, great rates and a full range of convenient financial services. These services make up the essence of your Credit Union. But, we’re never satisfied. We’re always looking to do more for you and your family! In fact, we’ve created a special edition of our Lines of Communication newsletter just to announce the following new and unique products: • Our low-rate 30-year Home Loan • A springtime 0% Auto Loan* and Credit Union Car Sale • New and enhanced insurance products • Expanded Payment Protection: Enhanced coverage for consumer loans and new coverage for VISA® Credit Cards It’s an exciting time to be a member of Capital Communications Federal Credit Union. As we grow, we’ll continue to offer new products to help you and we remain committed to making Capital Communications your primary financial institution! Sincerely,
Paula A. Stopera President/CEO Lines of Communication is published bimonthly and during periodic special editions exclusively for Capital Communications 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.
30-year Home Loan Until now, the longest term Home Loan available directly from Capital Communications has been a 20-year term. That all changes with our new 30-year adjustable-rate Home Loan. We’ve also built in a cap on the five-year adjustments to assure that your future payments will fit into your budget. In fact, our adjustable-rate Home Loan is more affordable than many traditional fixed-rate loans. And, we make the application process easy and fast from approval to closing time. Unsure whether to refinance? Give us a call and we can compare payments against your current mortgage. House shopping? Our new loan beats many fixed-rate, 30-year mortgages on the market today. Planning home improvement projects or worried about paying for college? This 30-year loan is a great option! See the page at left for more. 0% Auto Loan* and Credit Union Car Sale To welcome the spring car-buying season, our 0% Auto Loan can help get you into a new car with the first three months interestfree. If you combine the ease of our 0% Auto Loan with the convenience of our Car Buyers Helpline, you’ll be on the fast track to a new car. And, be sure to join us at the April 24 Credit Union Car Sale at our Main Office. We’ll have a lot full of late-model previously owned cars that will be priced to sell! See page 5 for details. Insurance Our advisory team at CAP COM Financial Services has unveiled a new suite of life insurance, property and casualty (including auto and homeowners) and special coverage options to help you gain peace of mind. Planning for the future can help protect your family from financial hardship. See pages 2 and 3 for more. Enhanced Loan Payment Protection and NEW VISA® Credit Card Coverage We have offered Payment Protection plans on many of our loan products for years. Now, in response to member feedback, we are offering new Payment Protection for VISA Credit Card balances and enhanced options for consumer loans. Protecting your financial future is at the heart of these changes. We’re offering a special enrollment period from April 1 through June 30 during which no health questions will be asked for the VISA and the enhanced consumer loan protection. See page 4 for more. *See page 5 for details
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CAP COM Financial Services
(518) 782-0209 | (800) 688-1045 | Fax (518) 782-5433 www.capcomfinancial.com
Life insurance to help you prepare At CAP COM Financial Services, we have been offering life insurance to members since 1989. We believe life insurance is a cornerstone of any solid financial plan. Of course, many people avoid the topic of needing life insurance. We do that for a lot of reasons and I won’t attempt to cover them here. What I can tell you is that CAP COM just made buying life insurance easier. We have added several new life insurance programs from VantisLife to an already extensive portfolio. At CAP COM, you can now get a quote and apply for life insurance online, over the phone, or in person, all with an insurance professional to help you determine the right amount and type of life insurance coverage. I have worked with many families who have lost a loved one during my 25 years as a financial advisor. It is always difficult. But, it’s easier for families to cope when they have enough life insurance to pay off their mortgage, educate their children and provide monthly income to support their family. I know you may be reading this article and thinking, “I don’t need life insurance” or “I already have too much life insurance.” I can honestly tell you I have never heard a surviving family member say they didn’t need it or that they had too much life insurance. Avoiding life insurance is easy. Confronting the need for life insurance is hard. At CAP COM Financial Services, we make it easy to confront the need for life insurance and do the right thing for your family. So, stop avoiding it. Pick up the phone, visit a branch, reply to a mailing or go online and learn more about our insurance packages. At the very least, you can confirm you have enough life insurance for your family. At CAP COM, we make it easy to do the right thing. Sincerely,
John M. Shartrand Chief Investment Officer
Not NCUA Insured May Lose Value No Credit Union Guarantee
NEW: Group rate home, auto and boat insurance CAP COM Financial Services will soon offer Credit Union members special group rates for Auto, Homeowners and Boat Insurance from The Travelers, one of the most recognized names in property and casualty insurance. Information outlining the benefits of this important insurance coverage will be mailed to members soon. Review this material to learn how you can benefit from group rates and great coverage for Credit Union members.
Check capcomfcu.org and upcoming Credit Union e-mail communications for our Travelers announcement. Call Willis Reed at (518) 458-2195 ext. 3169 or ask at a branch location for more information.
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Life insurance CAP COM Financial Services can help tailor life insurance coverage to fit your needs. We offer a wide variety of low-cost, easy-to-buy life insurance plans that can provide peace of mind when you want to protect all that is important to you. We have a team of professional financial advisors who will meet with you to discuss your insurance needs, as well as a host of online-only products at capcomfcu.org. Will your family be fully protected if something should happen to you? CAP COM Financial Services offers you unbiased advice about which type of insurance is best for you and will provide you with a fast, hassle-free quote. We offer the following Life Insurance products: Term Life, Whole Life and Universal Life.
Long-term care insurance This insurance protects your assets in the event you need long-term care. It also allows you to choose the facility that you may enter and the level of care you will receive. Consider this insurance once you reach age 40 and when you feel you have enough assets to need protection. The earlier you purchase long-term care insurance, the less you pay for it. And the premiums may be tax deductible, though we advise that you consult a tax advisor.
Contact our licensed insurance representatives at (518) 782-0209 Ask to speak with Herb Warden or Harry Hartman Herb Warden
NEW VantisLife insurance packages
*Qualification based on VantisLife’s underwriting review.
Guaranteed Golden Life Insurance Guaranteed acceptance. Available for ages 50 through 75. No health questions or physical exams required. The death benefit in the first two policy years is limited to return of premium with full benefits thereafter.
Single Premium Children’s Term Life $10,000 of protection for a low, one-time premium payment of only $110.
VantisTerm Life Insurance Low-cost premium rates locked in for 10, 15, 20, 25 and even 30 years. Sample rates listed below.
Super EZ Life Insurance Affordable term life plans. No medical exam or lab tests required.* Simple application.
Sample rates for $250,000 VantisTerm life insurance policy (10-year level term*) Age
Annual Cost
Monthly Cost
35
Male: Female:
$158 $145
$14.18 $13.05
45
Male: Female:
$275 $230
$24.75 $20.70
50
Male: Female:
$385 $325
$34.65 $29.25
*Rates based on UltraSelect non-tobacco user (no tobacco use for the past five years). Annual premium rounded to the nearest dollar. Premiums for other plans, ages, amounts of coverage and underwriting classes available upon request. Policy Series CMP 0501. Premiums based on applicant’s age at issuance of policy. At end of guarantee period, plan is renewable at age 85 without evidence of insurability. Qualification for all policies is based on VantisLife’s underwriting review.
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Protecting your family’s financial future Our VISA® Credit Cards and low-rate loans can help dreams like a long-awaited family vacation or home improvements come true. At Capital Communications, we are committed to helping you realize your dreams while maintaining financial safeguards. That’s why we have enhanced our Payment Protection program and rolled out two NEW opportunities for our VISA Cardholders: Member’s Choice™ Term Life Insurance and Disability Insurance. “Our Payment Protection plan is reasonably priced insurance that can shift the burden of paying off your loans and credit card balances if you become totally disabled or pass away unexpectedly. We believe it is a crucial part of securing your family’s standard of living,” said Card Services Manager Lena Wilkins.
Available NOW: Protection that pays • Quick and simple enrollment • Protect your credit standing • Gain peace of mind
For more information: Web capcomfcu.org Phone (518) 458-2195 • (800) 468-5500 Branch visit Stop by one of our convenient locations
Don’t forget – we also offer Payment Protection for Credit Union Home Equity and consumer loans as well. The Credit Union is offering a special enrollment period from April 1 to June 30 for members interested in signing up for the NEW VISA Credit Card Payment Protection plans or other consumer and Home Equity Payment Protection plans. To learn more, call us at (518) 458-2195 or go to capcomfcu.org.
Elanda Thomas Financial Services Associate
0%
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APR*
Our Auto Loan can put you behind the wheel FAST. Our Car Buyers Helpline will make it EASY. 0%APR* for three months and rates as low as 3.49%APR** for the life of the loan • Apply online, by phone or in person for preapproval of your auto loan. We will finance 100% of the value of the car. • Car Buyers Helpline will help you find the best possible deal on your car. • Pick up your check at any branch or drive-thru or we’ll send it to your home.
Get preapproved today! Call (518) 458-2195, go to capcomfcu.org or stop by any branch.
Credit Union Car Sale Saturday, April 24 9 a.m. - 3 p.m. Main Office 18 Computer Drive East, Albany Several local dealers will be on site to offer members their best deals on late-model, previously owned cars. (518) 458-2195 • (800) 468-5500 • carbuyershelpline.com *0% financing will apply for three months from date of dispersal. For example, a loan disbursed March 15, 2010 will have a promotional period through June 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 and sustainable credit who select our Automatic Payment Plan. Rate applies to a new auto loan with a two-year term (2008-2011). Other repayment terms available. Sample payment for 3.49% is $43.21 per $1,000. Rate is accurate as of 3/17/10. The Credit Union will not be held liable in relation to any car buying information or advice provided by Car Buyers Helpline. Car Buyers Helpline is a subsidiary of CCFCU.
All new for you
At Capital Communications, we’re always doing more for you and your family!
This Special Edition of Lines of Communication will show you how our new and unique products can help you. Inside: • Low-rate Home Loans • Home, auto and life insurance options • 0%* Auto Loan • Credit Union Car Sale • NEW VISA® Credit Card Payment Protection
PRSRT STD U.S. Postage PAID Albany, NY Permit #186 18 Computer Drive East Albany, NY 12205-1168
*See page 5 for details
PHONE NUMBERS CCFCU Phone (518) 458-2195 CCFCU Toll Free (800) 468-5500 CCFCU Fax (518) 458-2261 Touch-24 (518) 458-8986 Touch-24 Toll Free (800) 634-2340
HOURS OF OPERATION Lobby: Mon — Wed: 8:30 a.m. - 4:30 p.m. Thurs & Fri: 8:30 a.m. - 6 p.m. Sat: 8:30 a.m. - 12:30 p.m. Drive Thru: Mon — Wed: Thurs & Fri: Sat:
8 a.m. - 5 p.m. 8 a.m. - 6 p.m. 8:30 a.m. - 12:30 p.m.
Early drive thru hours 18 Computer Drive East, Albany 4 Century Hill Drive, Latham Mon — Fri: 7:30 a.m.
BRANCH AND ATM LOCATIONS
OTHER ATM LOCATIONS
Albany (Main Office and mailing address) 18 Computer Drive East • Albany, NY 12205-1168
Clifton Park Food Court, Clifton Park Center
Clifton Park 1744 Route 9 Cohoes 219 Ontario Street Colonie 341 New Karner Road Glenmont 384 Bender Lane Latham 4 Century Hill Drive Niskayuna 582 Balltown Road North Greenbush Route 4 Coming Fall 2010 Hoosick Street Brunswick
Waterford 260 Hudson River Road Other surcharge-free options SUM Networks COOP ATM To find the ATM nearest you, visit capcomfcu.org and choose “Locations/ATMs” on our home page. Then, click on “Branch/ATM Locator.”
WEB BANKING capcomfcu.org Secure online banking capcomfcu.mobi Mobile device banking