Money News - ABCO Federal Credit Union

Money News
A Quarterly Publication
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Winter
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Practice
in 2016
Protect Yourself from Identity Thieves
How to Boost Your Credit Score
Identity theft is one of the fastest growing crimes in the
country. Thirteen million Americans were victims of
identity theft in 2013 according to a study by Javelin
Strategy and Research. Protecting your personal
information can help reduce your risk of identity theft.
Follow these tips to help protect yourself:
If you are thinking about purchasing a car or house or just
need to borrow some money, your credit score will largely
determine the terms of your loan. If your credit score is
low, you may feel like you are doomed to a lifetime of high
interest rates, but don’t lose hope! With a few strategies and
a commitment to smart money management, you’ll boost
your score and save yourself a lot of money along the way!
• Keep your important documents and records in a
safe place at home. Secure Social Security cards, birth
certificates, passports and financial documents in a
safe or lock box.
• Limit what you carry. When you go out, take only the
identification and credit and debit cards you need.
• Shred receipts, credit offers, credit applications,
insurance forms, physician statements, checks,
bank statements, expired charge cards and similar
documents when you don’t need them any longer.
• When signing up to access your checking, savings,
credit card and other accounts online, be sure to use
strong passwords. Combine numbers, letters and
special characters.
• Avoid phishing emails. Don’t open files, click on links
or download programs sent by strangers.
Following these tips can reduce your chances of
becoming a victim! More information and resources
related to identity theft can be found at ftc.gov.
Review your credit report regularly Each of the nationwide
credit reporting companies is required to provide you with
a free copy of your credit report once every 12 months, if
you ask for it. To order yours, visit annualcreditreport.com.
Once you have your report, review it to ensure accuracy.
Report any discrepancies to the credit reporting agency.
Make all payments on time Even if you can only afford to
make the minimum payment, make sure you at least pay
your bills on time. Payment history plays a significant role
in determining your score.
Don’t max out your credit cards Many scoring systems evaluate
the amount of debt you have compared to your credit
limits. If the amount you owe is close to your credit limit,
it’s likely to have a negative effect on your score.
Other useful information on credit score repair can be
found at ftc.gov.
Ask to change your account to
Protection Plus C H E C K I N G
IDProtect
®
IDENTITY THEFT
PROTECTION SERVICE1
ACCESS TO YOUR CREDIT
REPORT & SCORE EVERY
.20
90 DAYS
% ON BALANCES OVER $1,000
APY2 ($4.95 monthly service charge)
PLUS,
CELLULAR PHONE
PROTECTION3
Activation required. See full details at goabco.org/checking.
APY=Annual Percentage Yield.
3
When your bill is paid through our Protection Plus Account.
1
2
goabco.org • 800-225-1859
MAILING ADDRESS
P.O. Box 247, Rancocas, NJ 08073-0247
goabco.org
LIKE US
PHONE (ALL LOCATIONS)
800-225-1859
MEMBER CARE
Email: [email protected]
24/7 TELEPHONE BANKING
800-808-2226
OTHER SUPPORT NUMBERS
Visa® – Evenings, Weekends and Holidays
Visa Credit Card........................800-453-4270
Visa ATM/Check Card..............800-523-4175
Bill Payer........................................877-760-6004
OFFICE LOCATIONS
WILLINGBORO AREA
MAIN OFFICE
FULL-SERVICE BANKING CENTER
690 Beverly-Rancocas Road
LENDING CENTER
Reminder: Limits on Certain Savings Account
Transactions Went into Effect January 1
This is just a reminder that full implementation of Regulation D went into
effect on January 1. (Notification of this implementation was included in
our fall newsletter.) Regulation D is a federal requirement mandated by
the government for all financial institutions. Its purpose is to ensure that
financial institutions maintain adequate reserves for funds held on deposit.
Regulation D impacts the number of transfers and withdrawals allowed
from Club Savings, Money Market Savings and IRA Savings accounts.
Certain transactions on these accounts will now be limited to six per month.
These transactions include:
• Voice Banking transfers/withdrawals
• Mobile & Online Banking transfers/withdrawals
• Overdraft Protection transfers
• Transfers/withdrawals done over the phone
• ACH (Automated Clearing House) or direct debit withdrawals
After the sixth transaction, further transactions may be returned, reversed,
refused or assessed a fee. Note: This Regulation does not affect Primary or
Secondary Savings Accounts or Checking Accounts. For further details,
please visit goabco.org/regd or contact Member Care.
East Ridge Shopping Center
621 Beverly-Rancocas Road
RANCOCAS VILLAGE
215 Main Street
BRANCH OFFICES
ATLANTIC CITY
2652 Atlantic Avenue
BROWNS MILLS
81 Pemberton-Browns Mills Road
COOPER HOSPITAL
(Hospital Employees Only)
1 Cooper Plaza, Camden
EGG HARBOR TWP.
6716 Black Horse Pike, Suite 8
GLASSBORO
Doubletree Center, 870 Delsea Drive
MOUNT HOLLY
76R High Street
RIDER UNIVERSITY
Ground Floor of the BLC
Next to University Bookstore
FOR CURRENT HOURS OF OPERATION
AND DIRECTIONS TO OFFICES
Go online @ goabco.org or call us.
ABCO FCU’s ROUTING
AND TRANSIT NUMBER
2312-7827-4
ANNUAL
MEETING
Tuesday, March 22, 2016
Time:
6:30pm - Meeting
7:00pm - Dinner
Place:
Carlucci’s Waterfront
876 Centerton Road
Mt. Laurel, NJ
Price:
$25 per person.
Spouses, friends and guests
are welcome.
To attend you must return the
Reservation Form at right by
March 16, 2016.
ANNUAL MEETING RESERVATION
Names of Members and Guests:
_______________________________
_______________________________
_______________________________
_______________________________
_______________________________
_______________________________
_______________________________
TOTAL NUMBER ATTENDING _____ @ $25.00 each
AMOUNT TO BE ENCLOSED OR DEBITED $_______
Method of Payment – Check One:
Check Enclosed for $ _________
Please Debit $ _________ From My:
Checking Account
Savings Account
Name ___________________________
Signature _________________________
DINNER
RESERVATION FORM
Deadline: March 16, 2016
ABCO FCU is not responsible for typographical errors, omissions or misprints in this publication.
Date ____________________________
Bring form to: Any Branch Office • Fax to: 609-518-6958
Mail to: ABCO Federal Credit Union, P.O. Box 503, Rancocas, NJ 08073
No balance
transfer fee.
Transfer high-interest
card balances
and save!
POCKET A LOW -INTEREST
VISA CREDIT CARD!
6.75%
• Rates as low as
APR*
• No annual fee on most cards
• Earn ScoreCard® Rewards Points
with every purchase you make!
Apply online at goabco.org/visa
*APR=Annual Percentage Rate. Subject to credit approval. Introductory rate of 6.75% APR for the first
six months. After the six-month introductory period, rates will vary based on creditworthiness. The
current range is 6.75% APR-17.00% APR as of 01/01/16. This range may change at any time.
Update on Chip Cards
The Store Credit Card Trap
The Credit Union has been planning the conversion of all
Visa® credit and debit cards to a new, more secure EMV
chip card. We had intended on completing this process at
the end of 2015; however, certain unforeseen processing
issues with this new technology prevented us from doing
so. We hope to begin issuing the new EMV Visa chip
cards in the near future. Please check our website or our
Facebook page for updates. Thank you for your patience
and understanding.
Let’s face it – it can be hard to say “no” to the perky retail
clerks trying to coax you into signing up for their store
credit cards. After all, “You’ll get 15% off right then and
there,” along with “valuable coupons in the mail!”
A Note on Direct Deposit Tax Refunds
Most store credit card interest rates are, frankly, a big
rip-off – sometimes as high as 28%! It can take years to
pay off such cards if you only make minimum payments,
and as interest on the unpaid bills mounts daily, you’ll
pay an astounding amount of it along the way.
Please be aware: For security reasons, we cannot direct
deposit funds into an account if the name on the deposit
does not match the name of the primary or
joint accountholder(s). Such deposits will be
rejected and returned. Please ensure all tax
refunds are scheduled for direct deposit into
owner accounts, or contact us to add a joint
accountholder. Thank you for
your cooperation.
Yes, the deals are enticing. It’s so simple to do;
unfortunately, the repercussions of having a stack of store
credit cards can land you in more financial angst than
you bargained for.
Does that mean you should never get store credit cards?
Not at all. Some cards can be a great deal. Just be careful
not to allow a store card to lull you into overspending,
and, as with all credit cards, try to pay off your balances
monthly and never make late payments.
SCHEDULE A
CONSULTATION
TODAY
1-888-439-0770
[email protected]
DIRECTION
Appointments available
M-F 9:00am-6:00pm
FOR THE ROAD AHEAD
Investment Services
Retirement Planning
Estate Planning
College Savings Planning
Investing
A wholly owned subsidiary of ABCO FCU
Securities and Registered Investment Advisory Services offered through GWN Securities,
Inc., 11440 N Jog Road, Palm Beach Gardens, FL 33418. Member FINRA, SIPC. Nondeposit
investment products offered are not NCUA insured, not obligations of ABCO Federal Credit
Union or its subsidiaries, not guaranteed by ABCO Federal Credit Union or any affiliated
entity and are subject to normal investment risks including possible loss of principal.
Dish
D ish on Mortgages
get the
at the
diner
Thinking about buying a home? Learn how to navigate the
home buying process from a pro...join us for a homebuyers
seminar! Topics will include:
 How to become pre-qualified for a mortgage
 Understanding your credit
U
nderstanding your mortgage options, including
Conventional, Adjustable, FHA, USDA and more
D
own payments, including options for buying a
home with little or no down payment
 Understanding closing costs
Dates
and Locations:
February 25 • 7:00pm • Shore Diner
6710 Tilton Road, Egg Harbor Township, NJ
March 8 • 7:00pm • PB’s Diner and Tap Room
500 North Delsea Drive, Glassboro, NJ
These seminars are free to credit union members. Take-home materials will
be made available. Advance registration is required. Send an email to
[email protected] telling us your name and the number
in your party (max two).
Speaker:
Barbara Gallagher, President
Almost Home Mortgage, an ABCO affiliate
NMLS #1189794
Licensed by the New Jersey Dept. of Banking and Insurance
goabco.org • 800-225-1859
ABCO Donates to Food Bank of South Jersey
In November, ABCO Federal Credit Union donated $1,000 and close to 300
pounds of food collected as part of a Food Drive kicked off on International
Credit Union Day.
International Credit Union Day, which is intended to celebrate the ways
credit unions improve the lives of citizens worldwide, is celebrated annually
with a new theme each year. The theme in 2015 was ‘People Helping People.’
Food collection bins were set up at most ABCO locations, and donations
from canned goods to stuffing were brought in by generous ABCO employees
and members. In addition, a $1,000 donation from ABCO was presented to
the Food Bank of South Jersey.
The Food Bank of South Jersey runs a large-scale
food distribution program that annually links
10,420,000 pounds of food with over 240 charitable
food providers, such as food pantries, soup kitchens
and emergency shelters. The Food Bank of South
Jersey assists approximately 200,000 individual
clients and is the largest source of government and
non-government food assistance
in South Jersey.
To learn more about volunteer
and donation options for the
Food Bank of South Jersey,
visit foodbanksj.org.
ABCO FCU Scholarship Application Now Available
For over 10 years, ABCO FCU has been awarding scholarships to hardworking students. Each year, we award five (5) $1,000 scholarships. Any
high school senior who is also an ABCO FCU member may apply. The
scholarship is an award to be paid jointly to the winning student and the
student’s chosen accredited educational institution. Scholarship funds must be
used: 1. for tuition or textbooks; 2. only at an accredited educational institution
(two- or four-year college, university or technical school).
The judging of the entries is based on academic performance, extracurricular
activities, community service/involvement, references and personal goals.
The application can be downloaded at goabco.org/scholarships
Please mail application packets to:
ABCO Federal Credit Union
ATTN: Scholarship Program
P.O. Box 247
Rancocas, NJ 08073
Deadline: April 1, 2016
Warm up
to a great new rate.
1.99% APR
*
• Rates as low as
• Flexible terms up to 72 months
(for qualified applicants)
• Potential savings of up to $50 per
month on your car payment**
Apply online at goabco.org/autorefi
Transfer your
auto loan
to ABCO!
*APR=Annual Percentage Rate. The rate you qualify for will be based
on your creditworthiness, the term of your loan and vehicle year. The
current range for auto loans is 1.99%-10.99% APR. Some vehicles
will not be eligible for refinance. ABCO auto loans are not eligible for
refinance. Normal underwriting guidelines apply. **Potential savings
will vary based on current balance, existing rate and term.
Practice Financial Fitness,
Protection Plus Checking.......................................... 1
Regulation D Reminder, Annual Meeting ................. 2
ABCO Visa®, Chip Card Update, Tax Refunds,
Store Credit Card Traps.............................................. 3
Investment Services, Mortgage Seminars................. 4
Food Drive Results, Scholarship Applications............ 5
what´s inside
Federally insured
by NCUA
Big City Efficiency…Small Town Friendliness
P.O. Box 247 • Rancocas, NJ 08073-0247
Winter 2016 Newsletter