Need New Wheels? - Teachers Federal Credit Union

fall 2011
102 Motor Parkway, Hauppauge, New York
Need New Wheels?
5 Ways to Build
a Healthy
Credit History
pg. 4
Direct Deposit Offers Direct Results pg. 7
Test Your ID Theft IQ
pg. 9
What Is Membership Worth to You? pg. 12
Inside
Go Local … Go to Your Credit Union!. . . . . . . . . . . . . . . 3
Share the Love! Refer a Friend . . . . . . . . . . . . . . . . . . . . 3
TFCU: The Local,
Educated Choice
Need New Wheels? Take Us Shopping with You .. . . . . 4
5 Ways to Build a Healthy Credit History .. . . . . . . . . . . 5
Home Equity Loans Are a Tax-Smart
Way to Borrow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
What to Keep? What to Toss?. . . . . . . . . . . . . . . . . . . . . 6
Direct Deposit Offers Direct Results . . . . . . . . . . . . . . 7
4 Reasons to Pay Bills Anytime, Anywhere . . . . . . . . . 7
TFCU Takes a Stand Against Fraud. . . . . . . . . . . . . . . . 8
Test Your ID Theft IQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
A Little Here and a Little There …
Adds Up to a Lot! . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Financial Difficulties? We’re Here to Help . . . . . . . . . 11
Payday Loan Alternative Now Available. . . . . . . . . . . 11
What Is Membership Worth to You?. . . . . . . . . . . . . . . 12
You’re Welcome at More Than 4,350 Locations. . . . . . 13
Don’t Let Emotions Drive Your
Investment Decisions. . . . . . . . . . . . . . . . . . . . . . . . . . . 14
Board of Directors
Fred H. Schaefer – Chairman
Nicholas Maletta – Vice Chairman
Raymond P. Grossman – Treasurer
George L. Dornhoefer – Secretary
F. Jane Harris
Robert J. Ney
Juan C. Nuñez
Mario P. Shortino
Frank D. Spencer
Executive Management
Robert G. Allen – President/CEO
Thomas A. Fallon – Executive Vice President/COO
Supervisory Committee
Ronald A. Mincio – Chairman
You may be familiar
with the phrase
“knowledge is power.”
It’s something we
believe at Teachers
Federal Credit Union.
For more than 59 years,
TFCU has remained
a strong, local credit
union that prides itself
on providing our members with much more
than competitive rates and low fees. Unlike
several banks, we don’t see our financial
institution as simply a place to park your
money. We’re here to help you make smart
financial decisions as you work toward
achieving your short- and long-term goals.
We help members do this every day through
educational efforts.
Our friendly, knowledgeable staff members
live and work on Long Island, and they are
in touch with the needs of our community.
They are available to provide guidance to
members in person as well as by phone
and email. We have 23 convenient TFCU
locations to serve you, including our new
headquarters in Hauppauge (read more
below).
We also help members of all ages learn more
about wise money management through the
Financial Education Resource Center on
our website at www.teachersfcu.org and
publications such as Member Insight.
This issue of Member Insight informs you
how to take charge of your finances by
building a healthy credit history (page 5)
and guarding against identity theft (page 9).
It also explains how services such as Online
Bill Payer and Direct Deposit can help you
save time and money (page 7).
If you’ve faced some financial challenges
recently, you may want to read “Financial
Difficulties? We’re Here to Help” on page 11.
Our BALANCESM credit counseling and
education service can help you get
back on track.
Want to help others make educated choices
when it comes to their finances? TFCU
membership is available to your family
members, as well as almost all people
who live and work in Nassau and Suffolk
counties. Learn more about sharing
membership and joining TFCU on pages 3
and 12. Knowledge is power, and a strong,
educated membership helps TFCU remain a
strong credit union for you and your money.
Robert G. Allen
President/CEO
Paul E. Misut
April S. Neitlich
Robert J. Ney
James F. Nohe – Secretary
Member Insight is published by Teachers Federal Credit Union
for its members. It is designed to help maintain communication
with members, market products and services and provide reliable
and helpful information that will contribute to each member’s
overall financial well-being and quality of life. Member­ Insight is
published at Teachers Federal Credit Union, 102 Motor Parkway,
Hauppauge, NY 11788, (631) 698-7000. While consistent effort
is made to ensure the integrity of information contained in this
publication, ­material should not be considered legal, financial or
professional advice. The publishers do not assume liability for loss
or damage as a result of reliance on this data. Images may be from
one or more of these sources: ©Thinkstock, ©Fotolia, ©iStock.
Copyright ©2011 Teachers FCU. All rights reserved.
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New Headquarters to Serve You Better
TFCU is on the move! We outgrew our headquarters in Farmingville and have
relocated to 102 Motor Parkway in Hauppauge, N.Y. Our new location allows TFCU
to consolidate all administrative departments, and expanded training facilities will
allow us to better provide ongoing staff education. In addition, due to record-breaking
mortgage activity, we have many rooms to accommodate closings. There is also more
space to handle meetings for commercial loans and business accounts. This all adds
up to better service for you, our members. Our full-service Farmingville branch will
remain open to serve all your financial needs.
Member Insight is recyclable. Please recycle after reading.
Go Local …
Go to Your Credit Union!
You’ve probably heard about the “locavore”
craze, where people try to eat only foods
that are grown and produced locally.
Shopping locally is growing in popularity as
well. Many consumers prefer to spend their
hard-earned dollars in the community, where
they know they will be supporting local
businesses. Another great way to “go local”
is to manage your finances at Teachers
Federal Credit Union (TFCU).
Community Benefits of Credit Unions
By managing your money with TFCU,
you are doing your part to support a local
organization. And keeping your money here,
instead of at a big, national bank, has many
community benefits as well, such as:
•S
upporting the local economy. Our
branches are located right in your
neighborhood, and our staff members are
your neighbors! When you manage your
money at a credit union, you keep local
folks employed and ensure your money
goes right back into your community.
•P
roviding education. TFCU wants all
of our members to succeed financially.
That is why we provide financial
education to our members in the form
of seminars, visits to local schools and
educational materials such as newsletters,
e-publications and more.
Come Visit Us Today!
Our branches are local, and we’d love to see
you! See our list of locations on the back
page. Our friendly staff can help you find
the accounts and financial management
tools that fit your needs.
•G
iving back. Your support of TFCU can
have a big impact locally because your
membership allows us to give back to
the community. We sponsor charitable
events throughout the year such as
United Way, ALS Ride for Life and give
to local organizations such as Habitat for
Humanity and Make-A-Wish that help
members of our community.
Share the Love! Refer a Friend
Teachers Federal Credit Union has remained true to our mission as
a member-owned financial cooperative providing better value to our
members. And member satisfaction continues to be one of our top
priorities. When our members are satisfied, they spread the word to
their families and friends.
4) More ways to bank. Online, mobile or phone banking, shared
branches across the nation and local branches in your neighborhood.
5) Friendly service. Personalized solutions to meet your
financial needs.
As a Member, You Hold the Key
Because your credit union membership lasts a lifetime, even if
you change jobs or move away, we are still here for you. You will
continue to receive all the rewards your credit union membership
brings you – unparalleled service and convenient, worldwide
account access.
Membership at TFCU is available to those who live or work
in Nassau and Suffolk counties.*
As one of our members, you hold a valuable key to pass on to
your family and friends. Immediate family members and members
of your household are eligible for credit union membership. Your
spouse, children, grandchildren, parents, grandparents, siblings,
stepchildren and stepparents are all encouraged to join. You can
also invite your friends and co-workers who meet our membership
eligibility requirements.
Count the Ways We Improve Lives
Credit union members benefit from:
1) Lower rates on loans.
2) Higher dividends on savings deposits.
3) No-surprise credit cards with competitive rates.
We’re Here for You
If you know someone who could benefit from credit union
membership, invite them to check us out. Encourage them to
stop by one of our branches, call (631) 698-7000, ext. 6780,
or 1-800-341-4333** or visit us online at www.teachersfcu.org
for more information.
* Excluding Townships of Southampton, East Hampton and Shelter Island.
** Outside the Long Island, Westchester and New York metro areas.
According to the Credit Union National Association,
credit unions currently serve 87 million members with
affordable financial services. Credit union members
save $8 billion each year vs. people who bank at banks.
The Educated Choice
3
Need New Wheels?
Take Us Shopping with You.
“Let me talk with my manager” – does this bring back memories
of your last car-buying experience? Negotiating a deal on a new
or used vehicle is a lot easier when you take us shopping with you.
Hop in the driver’s seat with a preapproved auto loan from TFCU.
Call Us Before You Go Shopping
Do Your Research First
Squaring away your financing before you walk into the dealership
will give you leverage and save you money. The dealer knows you
mean business, and you always have the option of walking away if
you don’t agree with their price. You also don’t have to deal with the
hidden costs and unknowns of dealer financing.
Before shopping, figure out what type of car you want to
buy and how much you should pay for it. Websites such as
www.edmunds.com and www.kbb.com can show you what
the market value is for the make and model you are interested in.
Consumer Reports (www.consumerreports.org) offers new car and
used car price reports that tell you the real dealer cost including any
additional incentives and holdbacks. Shoot for a price of 4% to 8%
over dealer cost. And www.edmunds.com offers the TMV (True
Market Value) service that shows you the price you can expect to
pay in your market.
It’s also a good idea to contact the dealer or seller to find out what
additional taxes and fees they charge. Some of these are negotiable
too, if they are not found on the original invoice.
Even Easier, Use
Our Auto-Buying
Service
Our GrooveCar credit union auto-buying
service can do the research for you! Just tell
us the make, model and year you are looking
for – and we’ll find your car. Plus we’ll handle
the negotiating, so you can get the best deal
without the stress. If you like, we can even set
up a test drive so you can find out which car
is right for you. Once you make a decision, all
you have to do is bring your preapproved loan
check to the dealer and drive away with your
new wheels.
Now that’s easy!
Call 1-866-GROOVE4 or
visit www.groovecar.com.
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Once you’ve pinned down your dream car, come talk to us. We offer
a variety of loans and terms to fit your budget and can preapprove
your loan before you shop.
Contact us at (631) 698-7000, ext. 6790, or 1-800-341-4333.*
We’re ready to shop when you are!
* Outside the Long Island, Westchester and New York metro areas.
Websites not belonging to TFCU provided for information only. No endorsement is implied.
Ways to
Build a Healthy
Credit History
If you’ve ever watched TV’s “The Biggest
Loser,” you know that it’s easier to maintain
a healthy weight now than try to lose weight
and overcome possible health conditions
later. (Or as some people say, “A moment
on the lips, forever on the hips.”)
The same is true of your credit history,
which affects everything from your
purchasing power to your ability to get a
reasonable loan rate or land a job. Building
a healthy credit history from the start –
rather than trying to overcome mistakes
later – can save you time, energy and money.
To get an idea of your credit history,
potential lenders will examine your credit
score. A high credit score can make it easier
to get a credit card or loan, and may result
in the lender setting a lower interest rate. To
boost your credit score, remember these tips:
1. Pay your bills on time. Learn more
about our bill pay and automatic payment
transfer options at www.teachersfcu.org.
2. Pay down your debt. Consider our lowrate loans to consolidate your debt. A
financial counselor can also help you
create a debt management plan.
3. Reconsider closing accounts. You may
be tempted to close an old credit card
account because you no longer use the
card. But the longer your responsible
borrowing history, the better your score.
4. Think twice about opening accounts.
Applying for a lot of credit at once can
harm your credit score. And every line
of credit you apply for will stay on your
record for at least seven years, even if the
account is only open for a day or two.
5. Fix errors. Review your official records
from all three major credit reporting
agencies (Equifax, Experian and
TransUnion) and be sure any incorrect
information is corrected. You can order a
free credit report from each agency once a
year at www.annualcreditreport.com.
With healthy rates on savings and
low-rate loans and credit cards, TFCU
can help you achieve fiscal fitness and
a healthy credit history. Contact us at
(631) 698-7000 or 1-800-341-4333*
or visit www.teachersfcu.org to
learn more.
* Outside the Long Island, Westchester and New York
metro areas.
Websites not belonging to TFCU provided for information only.
No endorsement is implied.
Home Equity Loans Are a
Tax-Smart Way to Borrow
Did you know that your home’s equity may be an inexpensive source of credit? Borrowing
against the equity in your home offers two major benefits:
1. Lower interest rates than most other forms of credit.
2. The interest you pay may be tax-deductible.*
There are two simple ways to get at the money built up in your home:
> Home equity loan. Sometimes called a second mortgage, a home equity loan allows you
to borrow a lump sum to be paid back in monthly installments over a specified period.
> Home equity line of credit. Rather than receiving a lump sum, this option lets you borrow
against a given credit line as you need it. You can access your money by writing checks
linked to the account.
* Consult your tax advisor.
The Educated Choice
5
Financial Records
What to Keep?
What to Toss?
Everybody has a paper trail – everything from utility bills and financial
statements to tax records and receipts. With so many records it may be difficult
to determine which you should keep (and for how long).
Filing and organizing records is critical to maintaining healthy finances. Not
only will tax time be easier, but your spouse and other family members will be
able to locate important information should the unexpected happen to you.
Following these guidelines may help you organize your records.
•C
redit union documents: Destroy checks that have no permanent importance,
but keep copies of checks related to your taxes, business expenses, and housing
and mortgage payments.
•U
tility bills: Throw out (unless you need them for tax purposes).
•T
ax records: Most experts recommend destroying these after six years.
• Insurance records: Keep for the life of your policy.
•L
ife documents (birth certificate, marriage certificate, diplomas, divorce
decrees and military records): Store in a safe deposit box indefinitely.
•H
omeowner records (deed and title to your house): Do not throw away.
•L
ife- and estate-planning documents: Keep the most current copy.
• Receipts for major purchases, such as furniture and electronics:
Keep as long as you own the item.
Stay Organized
It’s also important to keep a list detailing where your records
are and how to access them. Store this in a safe place or with
a trusted family member or friend (be sure to keep a copy).
List each type of account, the identification number and
contact information of the appropriate agent.
We Can Help Keep Your Records Secure
Safe deposit boxes at TFCU are a secure way to keep original
copies of your most important documents. We offer a variety
of sizes to fit your unique needs.
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www.teachersfcu.org
Direct Deposit Offers
Direct Results
Direct deposit has altered the way many companies do business. If you’re looking to streamline
your payroll department and offer a convenient option for your employees, you may want to
consider the many advantages associated with direct deposit – a service that eliminates standard
paychecks by transferring money electronically from your business account to an employee’s
savings or checking account.
•C
onvenience. Employees who opt to have their funds directly deposited can access their funds
immediately once the deposit occurs. There’s no waiting for checks to clear. As an employer,
this saves you money by cutting down on work time lost to trips to the bank.
• I ncreased efficiency. With direct deposit, your accounting or payroll department will no longer
have to write checks, giving employees more time to work on other tasks. Setting up direct
deposit is a straightforward process. After the employee signs an authorization form, your direct
deposit network will confirm that the routing and account numbers are correct, and will then
begin forwarding to the account.
•R
educed risk of fraud. Since employees no longer require paper checks, the odds that a check
will be stolen, manipulated or lost are lessened. As an employer, you can monitor payroll more
effectively since bookkeeping time is kept to a minimum.
TFCU has seen great results for businesses using direct deposit. For more information about this
exciting opportunity or to inquire about other payroll services, give us a call at (631) 698-7000
or 1-800-341-4333* or visit www.teachersfcu.org.
* Outside the Long Island, Westchester and New York metro areas.
Still Haven’t Tried Online Bill Payer?
4 Reasons to Pay Bills Anytime, Anywhere
Do you remember life before direct deposit? Perhaps you enjoyed
catching up with the teller every payday and the satisfaction of
completing the transaction in person. You may have hesitated to
switch to an automated process fearing that it was less reliable and
secure. But once you converted, chances are you never looked back.
If you have similar excuses for not using Online Bill Payer, we have
just as many reasons why you should.
Excuse No. 1: It’s not safe. TFCU uses security certification,
password protection and an encrypted network, which helps prevent
unauthorized users from accessing your account information. What’s
more, having fewer personal checks in the mail stream keeps you
safer from identity thieves.
Excuse No. 3: It will take too long to set up. It takes a short time
to enter your billers’ information. But the process is simple, and
once it is set up, paying bills requires just a few clicks of the mouse.
In fact, you can pay all of your bills from one screen, at one time.
You can even set up recurring payments.
Excuse No. 4: It’s too expensive. Online Bill Payer is free to use,
so it can actually save you the cost of postage and reordering checks.
And as long as you schedule the payments far enough in advance of
the due date, you won’t have to pay late fees.
Getting started with Bill Payer is simple. Just talk to your member
service representative or go to www.teachersfcu.org to sign up.
We bet you’ll wonder why you waited so long to make the switch.
Excuse No. 2: I already have a good system in place. Online Bill
Payer automatically produces an organized, accessible record of
all of your payments. You can easily generate reports to see where
your money goes. And our system is compatible with personal
accounting software that you may already use such as Quicken®
or Microsoft Money®.
The Educated Choice
7
TFCU Takes a
Stand Against Fraud
At TFCU we don’t take fraud and identity theft
lying down. We are committed to standing
against fraud and protecting your safety and
well-being. TFCU uses a variety of weapons in
the fight against fraud. Here are just some of
the ways we’re protecting you:
•O
ffering multifactor authentication.
When you use our website to do your
online banking, pay bills or manage your
accounts, you are safe thanks to our
multifactor authentication. We require means
of identification in addition to your user
ID and password. These multiple forms
of identification help us to ensure that no
one but you has access to your financial
information.
•K
eeping your information safe from
phishing. Phishing is when you receive a
bogus email or telephone call that looks or
sounds like it is from a reputable source,
but is actually a scammer trying to get your
information. At TFCU, we will NEVER ask
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for your account information in an email or
an unsolicited telephone call. When in doubt,
visit www.teachersfcu.org or call our main
number, (631) 698-7000 or 1-800-341-4333*,
and one of our representatives can help you.
• Staying up-to-date on the latest trends in
fraud. Fraudsters are always coming up with
new ways to steal your information. We help
keep you safe by staying up on the latest
scams and warning you about them.
•P
roviding education. The best way to thwart
a scammer is to be aware. That’s why we offer
online information to help you learn how to
protect yourself. Visit www.teachersfcu.org
for details.
Identity theft and fraud are serious matters.
At TFCU, we’re here to protect you.
* Outside the Long Island, Westchester and
New York metro areas.
Test Your ID Theft IQ
You might think identity theft can’t happen to you, but all of us make minor
mistakes that could potentially open the door to identity thieves. Answer the
following questions to test your identity theft IQ, then total your score.
1) I use a cross-cut shredder to destroy all preapproved credit offers,
convenience checks, balance transfer checks and mail that includes
personal information.
Yes = 3
No = 0
2) I provide my Social Security number when asked, without inquiring
why it is necessary or how the information will be protected.
Yes = 0
No = 3
3) My Social Security number can be found in my wallet or on my driver’s
license or personal checks.
Yes = 0
No = 3
4) I send and/or receive mail using an unlocked, unsecured mailbox.
Yes = 0
No = 3
5) I only give out personal information in response to a telephone call
or email that I initiated and know to be legitimate.
Yes = 3
No = 0
6) When sharing personal information, I am conscious of people who
may be trying to eavesdrop or glimpse at my information.
Yes = 2
No = 0
7) I have ordered a copy of my credit reports during the past year.
Yes = 2
No = 0
8) When using the Internet, I make sure my firewall and antivirus software
is updated.
Yes = 2
No = 0
9) I immediately delete emails and hang up on phone calls from people
I don’t know.
Yes = 2
No = 0
10) I keep sensitive financial information and passwords in a locked
or protected area of my home that can’t be accessed by visitors.
Yes = 2
No = 0
Remember:
At TFCU, we will NEVER ask for
your account information in an email
or an unsolicited telephone call.
Scoring:
25-20: You’re at the head of the class!
19-15: Consider brushing up on your ID theft prevention techniques.
14 or below: Contact TFCU by visiting www.teachersfcu.org or calling
our main number, (631) 698-7000 or 1-800-341-4333*, for some free
tutoring about how to protect your finances.
* Outside the Long Island, Westchester and New York metro areas.
The Educated Choice
9
Building Your Emergency Fund
A Little Here and a Little There …
Adds Up to a Lot!
Can you think of one or two things you bought last month that
you didn’t need?
Most people can admit to the occasional impulse buy. But what
if you thought twice about those unnecessary purchases? Instead
of paying $20 here and there for something you don’t need, pay
yourself by putting the $20 into a savings account instead. Saving
just $20 each paycheck could add up to more than $500 in a year* –
and you probably wouldn’t even notice the difference.
Cutting back on unnecessary spending is a great step toward
building an emergency fund. Most experts recommend setting
aside three to six months’ worth of living expenses in case a sudden
financial burden arises – loss of a job or car problem, for example.
Having money saved can help protect you from taking on debt if
the unexpected happens.
10
We Can Help You Save
Ready to build your emergency fund? TFCU has the tools you need
to reach your savings goals – whether you can deposit a little or a lot.
Basic savings account – Our interest-earning savings account is a
great way to start saving for your financial goals with any amount.
Sign up for direct deposit or automatic transfers from your checking
account.
Money market account – Your savings can add up quickly with
one of these higher-interest-earning accounts. When you maintain
a minimum balance of $2,500, you can earn up to .65% APY.**
Certificates – With a minimum balance of $1,000 and terms
ranging from three to 60 months, we have a certificate that’s
right for your savings plan.
Why not save money by avoiding
unnecessary fees?
To get started, contact one of our financial experts today
at (631) 698-7000 or 1-800-341-4333*** or visit us at
www.teachersfcu.org.
Use our overdraft protection, and remember to pay
yourself with the money you save.
* With biweekly paydays.
** APY = Annual percentage yield. Rates subject to change.
*** Outside the Long Island, Westchester and New York metro areas.
www.teachersfcu.org
Financial Difficulties?
We’re Here to Help
Maybe you were making headway on the credit card bills, but then the car needed repairs. Or
you were injured and couldn’t work for three months. Or perhaps winter heating bills simply
overwhelmed your budget. Financial problems arise in a variety of ways, and they can not
only ruin your budget, but sour your whole outlook.
Fortunately, you have someone to stand by your side and help you get back on your feet
financially right here at Teachers Federal Credit Union. We offer BALANCESM credit
counseling and education on personal financial management topics. With the help of
a professional, you can analyze your budget and financial condition and explore options
to resolve credit problems. You can learn how to create an effective spending plan,
use credit wisely and take advantage of consumer protections that are available.
The best time to deal with financial difficulties is not when you’re ready
to file for bankruptcy; it’s as soon as you notice a problem developing.
If a pile of bills is spoiling your enjoyment of life, it’s time to get help.
Counseling is completely private and confidential, and it’s FREE.
To talk with a BALANCE counselor, call 1-888-456-2227.
Payday Loan Alternative
Now Available
The National Credit Union Administration has issued a ruling that enables federal credit unions to
offer short-term, small amount (STS) loans as a viable alternative to predatory high-cost payday
loans that are offered by other financial service providers.
If you’re currently using an outside check-cashing facility or a payday lender, TFCU’s
new STS Loan may be a better option. Not only will you receive the short-term funds
you need, you’ll also be building your credit profile.
• Membership: Minimum of one month membership is required.
• Dollar amount: Minimum $200; maximum $1,000.
• Term: Minimum one month; maximum six months.
• Frequency: Only one loan will be allowed in a rolling six-month period.
For more information, call us at
(631) 698-7000, ext. 6790.
The Educated Choice
11
What Is Membership Worth to You?
“No more ATM fees.”
savings here and there. Your credit union has the tools to help you
manage your money and build a stronger financial future – and the
opportunity is all yours.
“Refinancing to save thousands in interest on my home mortgage.”
Ask yourself what you want:
“No surprises on my credit card statement.”
• Lower debt payments?
• A savings plan for emergencies?
• A credit card with real rewards and no hidden fees?
• Checking and loan products that work in your interest?
• Lower fees?
• All of your accounts and loans in one convenient place?
• Access to resources and people who can help you make good
financial decisions?
“Saving hundreds of dollars a year on my auto loan.”
Every member has a reason for choosing Teachers Federal Credit
Union (TFCU), and the value of membership comes in a thousand
different shapes, sizes and dollar signs. The best part is, the benefits
that help you save money and run your financial life better are
absolutely free.
Helping you succeed is our business, so we provide value through
competitive rates, low fees and outstanding products and services.
As a member, you are an owner of this business. We work hard for
our members – not for the profits of bank shareholders – so we are
constantly innovating and delivering the benefits our members want.
What Do You Want?
Perhaps you opened a savings account years ago, or you got a great
deal on your auto loan with TFCU. However you got started with us,
you should know that membership is more than just a few dollars in
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Your credit union outperforms banks in all of these areas and more.
It’s no surprise that people are fed up with the rising fees, shrinking
value and lower service standards from the big banks. That’s why
many customers are making the switch from banks to credit unions.
Our dedicated team at TFCU can help you make the
most of your finances. Stop in today to find out what
we can do for you, or visit www.teachersfcu.org
to see all the perks of membership.
Shared Branching
You’re Welcome at
More Than 4,350 Locations
Convenience is the No. 1 reason people choose a
financial institution, and our shared branches – in
combination with online and telephone access – make
TFCU more convenient than even the largest banks.
Shared branching lets you conduct credit union
business with real people at more than 4,350 locations
in the United States and in several other countries.
• Make deposits and withdrawals.
• Cash checks.
• Transfer money between accounts.
• Make loan payments.
• Obtain balance inquiries and copies
of your statement.
• Purchase money orders and travelers checks.
Through the Credit Union Service Center network
you can complete nearly any credit union transaction
as if you were in one of our branches. All you need is
identification and your credit union account number.
Thanks to a special, secure data processing link,
the transactions you conduct at a shared branch are
posted to your account instantly. You can do any of the
following anywhere you see the Credit Union Service
Center swirl logo:
To locate the nearest Credit Union Service Center,
visit www.creditunion.net. You’ll find a list
of convenient locations, as well as maps, directions
and hours of operation. So no matter where you
travel, live or relocate, access to your money and your
credit union is as close as the nearest shared branch.
The Educated Choice
13
Don’t Let Emotions Drive
Your Investment Decisions
A Message from TFCU Trust & Financial Services
Emotions play an important role in some of the most important
decisions we make in our life. But when it comes to investing,
emotions can do more damage than good. Here are three ways that
emotions play a detrimental role in our investment decisions and
what we can do about it:
•D
on’t follow the herd. When stock prices start to fall, some
people decide to sell their stock mutual funds. What starts as a
few people selling their investments can turn into a panic where
everyone decides to sell. It’s called “herding” and it is one of the
most common mistakes that people make when markets decline.
•A
void extreme thinking. When markets fall, people often start to
think in extremes. Everything in the market begins to look black
and white. The facts can have many meanings and we need to
think intelligently about how these facts affect us before we make
any investment decisions.
•B
e aware of our short-term bias. When it comes to investing,
most of us have a short-term bias. That means that recent market
gains lead to excitement and higher expectations. On the other
hand, recent market losses lead to suspicion and caution. The
challenge for investors is not to forget both the long-term history
of the markets and their own long-term goals.
TFCU Trust &
Financial Services
Chris Hibbard, ChFC, CFS
Senior Financial Advisor
Trust Liaison Officer
5439 Sunrise Highway
Holbrook, NY 11741
(631) 698-7000, ext. 6020
Stay True to Your Goals and Your Plan
When markets are volatile, it tends to bring out our emotional
side. Before we react emotionally to short-term market gyrations,
we should ask ourselves some important questions. What is our
long-term goal? Have our goals changed? Was our plan to reach
our goals a sound plan? Are there any good reasons to abandon
our plan? Once we have asked and answered these questions our
decisions are more likely to be driven by logic not emotions.
Chris Hibbard and Steve Abbott are Financial Advisors with
TFCU Trust & Financial Services located at Teachers Federal Credit
Union. If you have any questions, or would like to provide feedback
regarding the information presented in this article, you may contact
Chris Hibbard at (631) 698-7000, ext. 6020, or Steve Abbott at
(631) 698-7035.
Representatives are not tax advisors or legal experts. For information regarding specific tax
situations, please contact a tax professional. For legal advice, consult an attorney.
Representatives are registered, securities are sold, and investment advisory services offered
through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered
broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free
1-866-512-6109. Nondeposit investment and insurance products are not federally
insured, involve investment risk, may lose value and are not obligations of or
guaranteed by the financial institution. CBSI is under contract with the financial
institution, through the financial services program, to make securities available to members.
FR010921-7A88
14
www.teachersfcu.org
Stephen Abbott, CLU, ChFC
Financial Advisor
2410 North Ocean Avenue
Farmingville, NY 11738
(631) 698-7035
Financial Services Representatives at Other Branches:
>
>
>
>
>
>
C
ommack – Linda Davis
E
ast Northport – Ron Rebaldo
N
esconset – Micki Cahill
P
ort Jefferson Station – Diane Jensen
R
ocky Point – Catherine Garnier
S
outh Setauket – Donato Surace
Shared Service Centers
More than 4,350 Locations Throughout the Country!
Plus 67 on Long Island, including 23 full-service TFCU
Branches. All you need to access your accounts is your
identification and your TFCU member number. Go to
www.creditunion.net or call 1-888-287-9475.
NASSAU COUNTY
Bethpage - 899 South Oyster Bay Rd.
(Bethpage FCU)
Bellmore - 2752 Sunrise Hwy.
(Island Federal FCU)
East Meadow - 2295 Hempstead Turnpike
(Nassau Financial FCU)
Elmont - 1633 Dutch Broadway
(Bethpage FCU)
Farmingdale 1033 Route 109
(Bethpage FCU)
Franklin Square - 648 HemsteadTurnpike
(Nassau Educators FCU)
Freeport - 210 West Merrick Rd.
(Bethpage FCU)
Garden City 1325 Franklin Ave. Plaza,
Suite 101
(Nassau Financial FCU)
830 Stewart Ave.
(Sperry Associates FCU)
Garden City Park - 2400 Jericho Turnpike
(Sperry Associates FCU)
Glen Cove - 111 School Street
(Bethpage FCU)
Hempstead - 170 Fulton Ave.
(Bethpage FCU)
Hicksville - 85 E. Old Country Rd.
(Island FCU)
Levittown - 3284 Hempstead Turnpike (In the
King Kullen Supermarket) (Bethpage FCU)
Lynbrook - 613 Sunrise Highway
(Bethpage FCU)
Massapequa 5455 Merrick Rd.
(Nassau Educators FCU)
6257 Sunrise Highway
(Bethpage FCU)
Mineola - 259 First St.
2nd Floor, Room 136
(Winthrop-University
Hospital EFCU)
131 Jericho Turnpike
(Bethpage FCU)
New Hyde Park - 1636 Marcus Avenue
(Nassau Edcuators FCU)
Oceanside 2995 Long Beach Rd.
(Nassau Financial FCU)
45 Atlantic Ave.
(Oceanside Christopher FCU)
Plainview - 525 Old Country Rd.
(Nassau Educators FCU)
Rockville Centre - 556 Merrick Rd.
(Nassau Educators FCU)
Roosevelt - 405 Nassau Rd.
(Bethpage FCU)
Seaford - 3612 Merrick Rd.
(Oceanside Christopher FCU)
4006 Merrick Ave.
(Bethpage FCU)
Syosset - 575 Underhill Blvd.
(Nassau Educators FCU)
Valley Stream - 264 E. Merrick Rd.
(Nassau Educators FCU)
Westbury 1000 Corporate Dr.
(Nassau Educators FCU)
750 Old Country Rd.
(Bethpage FCU)
SUFFOLK COUNTY
Bay Shore - 591 Montauk Hwy.
(Bethpage FCU)
Bay Shore - 834 Sunrise Hwy.
(In the King Kullen Supermarket)
(Bethpage FCU)
Central Islip - 233 S. Research Pl.
(Bethpage FCU)
Commack 120 Veteran’s Hwy.
(In the King Kullen Supermarket)
(Bethpage FCU)
6150 Jericho Turnpike
(Suffolk FCU)
Hauppauge 250 Veteran’s Memorial Hwy., NY State
Office Bldg.
(LI State EFCU)
120 Motor Pkwy
(Island FCU)
Huntington - 33 Gerard St.
(Bethpage FCU)
Islandia - 1282 Motor Pkwy.
(Suffolk FCU)
Medford - 3681 Horseblock Rd.
(Suffolk FCU)
Melville - 722 Walt Whitman Rd., Route 1010
(Bethpage FCU)
Miller Place - 691 Route 25A, Aliano
Shopping Center
(Suffolk FCU)
North Babylon - 1350-35 Deer Park Ave.
(Bethpage FCU)
Port Jefferson - 4802 Nesconset Hwy.
(Bethpage FCU)
Riverhead 1095 Old Country Rd. (Bethpage FCU)
Route 24 at 2 Enterprise Zone Dr.
(Suffolk FCU)
Sayville - 4820 Sunrise Highway
(Island FCU)
Selden - 520 Middle Country Rd.
(Island FCU)
Smithtown 240 Middle Country Rd.
(Bethpage FCU)
West Babylon - 50-110 Route 109
(Suffolk FCU)
NEW YORK CITY
Briarwood - 139-30 Queens Blvd.
(Melrose CU)
Flushing - 35-30 Francis Lewis Blvd.
(Qside FCU)
New York 577 9th Avenue
(Lomto FCU)
111 W. 26th Street
(Montauk FCU)
350 W. 31st St. - Ground Fl.
(US Alliance FCU)
26 Federal Plaza – Room 1072
(Xcel FCU)
Woodside - 5024 Queens Blvd.
(Lomto FCU)
The Educated Choice
15
Convenient
Branch Locations
Teachers Federal Credit Union
102 Motor Parkway
Hauppauge, NY 11788
Mail to: P.O. Box 9005
Smithtown, NY 11787
ATMs are available at all locations.
Hauppauge,
Main Office
102 Motor Parkway
Hauppauge, NY 11788
(631) 698-7000
1-800-341-4333 (outside the Long Island,
Westchester and New
York metro area)
Amityville
355 Broadway (Route 110)
Bay Shore
Shirley
437 William Floyd Parkway
Smithtown
One W. Main St.
South Setauket
Nicolls Plaza
260-A Pond Path
Hours
Office Hours
118 Wheeler Road
Mon.-Wed., Sat.:
8:30 a.m.-4:30 p.m.
Thurs.-Fri.:
8:30 a.m.-6 p.m.
Central Islip
Thurs: 8:30 a.m.-4:30 p.m.
Commack
Drive-up Hours*
10 Vanderbilt Pkwy.
Mon.-Wed., Sat.:
8 a.m.-5 p.m.
Thurs.-Fri.: 8 a.m.-6 p.m.
Smithtown
Fri.: 8 a.m.-6 p.m.
Sat.: 8 a.m.-5 p.m.
3rd Ave. and Sunrise
Highway
Central Islip
East Northport
556 Larkfield Road
Farmingville,
2410 North Ocean Ave.
Holbrook
5439 Sunrise Highway at
Lincoln Ave.
Huntington
211 East Main St.
Nesconset
Nesconset Plaza
127 Smithtown Blvd.
North Babylon
1134 Deer Park Ave.
(Route 231)
Oakdale
951 Montauk Highway
Port Jefferson Station
450 Jefferson Plaza
(Route 112)
Riverhead
Peconic Plaza
176 Old County Rd. (Rte. 58)
Brookhaven National
Laboratory **
400 Brookhaven Ave.
Upton, NY 11973
Mon.-Wed.:
9 a.m.-4:30 p.m.
Thurs.: 9 a.m.-5 p.m.
Fri.: 8:30 a.m.-4:30 p.m.
Entenmann’s **
1724 5th Ave.
Bay Shore, NY 11706
Mon.: Closed
Tue.,Wed., Fri., Sat.:
10:30 a.m.-3 p.m.
Thurs.: 6 a.m.-3 p.m.
Stony Brook University
Health Sciences Center
Mon., Tue., Thurs.,
Wed.: 8:30 a.m.-5 p.m.
Fri.: 9 a.m.-4:30 p.m.
Student Activities Center
Mon.-Thurs.:
9 a.m.-4:30 p.m.
Fri.: 9 a.m.-6 p.m.
Rocky Point
561 Route 25-A at Rocky
Point Landing Rd.
Selden
* Not available in Amityville,
Commack, North Babylon,
Selden or South Setauket.
** Facility employees only.
301 Independence Plaza
(Route 25)
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