Falls

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Falls
OCTOBER 2006
WHAT’S INSIDE
v
SHARED interests
A Q U A R T E R LY P U B L I C AT I O N O F H U D S O N V A L L E Y F E D E R A L C R E D I T U N I O N
Here comes baby! ...................... 2
It’s GR8 to Save Smart ................ 2
Watch your savings grow .............. 3
Your home. Your choice. .............. 3
following), Internet Banking, Bill
Pay free with direct deposit, and
eight foreign ATM transactions per
month.
One sky dive experience, please .... 4
Business expansion needs ............ 4
Protect your password .................. 5
Credit union seminars .................. 7
Handling the unexpected .............. 7
Members’ Choice
membership has rewards
Enjoy free benefits at every
Members’ Choice level!
Your participation is the strength
behind the credit union. That’s
why the higher your balance, the
more Members’ Choice rewards we
offer. However, members get many
free benefits at every level. Plus, it’s
easy to earn rewards. All savings
and loan balances are combined to
determine your Members’ Choice
level. Check out all the free
benefits available:
Add Free Bill Pay and standard
checks with Choice Plus level
Call For 2007
BOARD OF
DIRECTORS
CANDIDATES
PAGE 6
Free Credit Union SEMINARS
Reach the $10,000 Choice Plus
level and add free unlimited Bill
Pay, your first box of standard
checks with a new account,
statement and check copies,
replacement credit/debit cards,
official checks, and money orders.
PAGE 7
Step up to Ultimate Choice
for rate bonuses and loan
discounts.
The list of free benefits goes on for
Ultimate Choice members with
balances of $20,000 or more. Take
advantage of periodic certificate
bonus rates and consumer loan
discounts, free checks, shopping,
travel, and entertainment
discounts, and 15 foreign ATM
transactions per month.
Free Internet Banking, one-time
fee reversal and more!
Combine all of your accounts at
HVFCU to reach our Ultimate
All members receive Choice level
rewards like checking with no
monthly fee, VISA Check Card with
rewards, one courtesy privilege pay
or NSF fee reversal per year (see
Choice level where most account
services are free. For a full list of
rewards, visit www.hvfcu.org and
select Members’ Choice from the
About Us menu.
Courtesy Fee Reversal
It’s never pleasant to pay a fee
because of a shortage in your
checking account—
especially when it’s
due to a
calculation error or
because you simply
forgot to record an amount in
your register. Because we
understand that
mistakes can
FLEX CERTIFICATE ACCOUNT
THE POWER OF THE T-BILL + .25%
Strong. Flexible. Competitive. An
outstanding performer. That’s
HVFCU’s Flex Certificate Account. Its
true strength lies in its ability to keep
pace with today’s changing market
without risk to principal. It offers a
variable APY that’s based on the
3-month Treasury Bill auction rate,
plus the added muscle of an
additional .25%. Your rate
automatically adjusts quarterly,
and whether you are an individual
or business member, the minimum
to open is just $750. Open a Flex
Certificate today. Call 845-463-3011,
or stop by any branch.
(Non-IRA certificates can be opened
online through Internet Banking at
www.hvfcu.org.)
happen—all members in good
standing will automatically
receive an annual
reimbursement of
their first
occurrence of a NonSufficient Funds (NSF) or
Privilege Pay fee. Just one
more added benefit of Members’
Choice. (This policy is subject to change.)
MC2AT5
1
Here Comes Baby! Preparing financially for the new arrival
When baby is born, your financial picture can change drastically. Now,
more than ever, it’s important that you create, maintain, and stick to a
budget to keep your expenses in check.
Add all the extra costs of raising a child into your budget. If you
already have a budget, you'll need to revise it to fit your new, expanded
family. Go through each of your expenses to see if they will change
with your new baby. For example, your rent or mortgage will probably
stay the same, but electric bills might increase if one person is planning
to stay at home every day. Formula can cost up
to $1,000 a year. Diaper service and day care
can dramatically add to your expenses.
If you are a new parent, other, more
experienced parents can probably help
you identify what extra expenses might
come up on a regular basis and what you
can expect to spend. They may even give
you some savings tips that
you haven’t considered.
Make sure your income
is accurately reflected in
your budget. If you're going to have only one
income and you are accustomed to living on two
incomes, this will significantly affect your budget.
It’s important to add even more into savings. Many
experts suggest that you try to maintain three to six months
of expenses in savings in case of emergency—and if you're
planning to save for a college fund, make space for this in your
budget right away. The earlier you start, the better.
The easiest way to save regularly is to arrange for direct deposit
or periodic payments into your savings. By tucking away a little at a
time you won’t feel the pinch, and your balance will accumulate
without effort. As your balance grows, you can transfer it to a higher
yielding certificate account, money market account, or investment
vehicle later to help maximize your return.
IT’S GR8 To $ave $mart
A Certificate Account For Young Savers
g
Cominn!
Soo
You’re trying your best to teach your children the
value of a dollar. Your children are trying their best to
get a new cell phone, an iPod, a car—and the list goes
on and on. But even if you don’t see eye to eye on
spending habits, you’ll both enjoy HVFCU’s new Save
Smart Certificate Account, created with young savers in
mind and available soon. It features a low $250 opening
deposit requirement to help young people stay focused
on their goal, and it earns the same high yield as our
regular 8-month certificate.
When your child has saved at least $250, bring him
or her in to open an HVFCU Save Smart Certificate.
Joint ownership is preferred for all children’s accounts,
and is required for those 16 and younger. Since adults
can open an account as custodian, even newborns can
benefit from a Save Smart Certificate Account!
Watch for details!
2
Divide your assets and conquer
HVFCU offers a variety of
flexible savings options
Diversification is one of the most
basic principles of investing—right
up there with ‘buy low, sell high.’
But for some reason, it’s a tenet
many of us tend to overlook. Even
savvy investors who think their
investments are diversified often
aren’t quite as balanced as they
think.
Creating a balanced portfolio
means spreading your assets across
a variety of investment types. And,
we’re not just talking about stocks,
bonds, and mutual funds, either.
While these investments are
certainly important, it’s just as
vital to have a flexible, low-risk
place to put the money you want
to keep within easy reach.
That said, you don’t want to
put your money under the
mattress. Grow your funds with
HVFCU. We offer a variety of
savings account types, with
competitive rates and terms. If you
need your money to be completely
flexible, try a dividend earning
HVFCU savings account. If you
would like a higher yield, and you
only need to make a few
transactions per month, an
HVFCU money market account is
a good choice.
Or, take advantage of an
HVFCU certificate account with
terms ranging from 3 to 84
months. Typically, the longer the
term, the higher your rate of
return. It’s a great place to park
money you know you won’t need
for a while, because you know
exactly how much you’ll earn
when the certificate matures.
To learn more about how our
flexible savings options can work
with your investments, visit our
website or give us a call today.
FALL BACK
Daylight savings
ends October
29th. Remember
to set your clocks
back one hour.
Your home. Your choice.
HVFCU offers some creative
mortgage solutions
Can a mortgage really be
innovative? When you refinance
your current home or buy a new
one through Hudson Valley Federal
Credit Union, you’ll discover the
answer is a definite “Yes!” We offer
a range of affordable options, so
you can choose the term, payment
schedule, down payment and type
of mortgage that fits your life.
HVFCU mortgages are designed to
make owning a home easier for
you. For example, if you’re buying
your first home or simply don’t
have a lot of cash, we offer
mortgages that don’t require a
huge down payment. Our FirstTime Home Buyer’s mortgage
program requires as little as 3%
down. Or, consider our Zero Down
Payment mortgage program to
save you cash up front.
Your Credit Union at Large
✤ Throughout the year, credit union staff
and their families have donated their
time and raised thousands of dollars in
donations to benefit the United Way,
American Cancer Society, American
Heart Association, Alzheimer's
Association, Juvenile Diabetes, and
other non-profit organizations. At right,
HVFCU staff and fellow volunteers don
hats for the “Crazy Hat Lap” during
American Cancer Society’s “Relay For
Life” walk. Staff helped raise $3,200
for cancer research.
✤ Tony Rohrmeier, VP of Delivery
Systems/Technology/Risk
Mitigation, Derrik Wynkoop,
CFO/Acting VP of Marketing,
and Barry LoCastro, General
Services Manager, review blue
prints for our Middletown
Branch site currently under
construction. The 6,790 sq. ft.
facility is located in the
Fairgrounds Plaza on Route
211, and will offer drive-up
ATM and teller service,
business services, and
investment services.
Our flexible terms benefit you,
too. Choose a 10-year term or a
bi-weekly payment plan to pay off
your loan more quickly. HVFCU
also offers fixed-rate terms of 15,
20, 25, and 30 years1 if you would
rather stretch your loan and enjoy
lower monthly payments. Or,
benefit from an initial fixed-rate
with our 1, 3, 5, 7 or 10 year2
adjustable-rate mortgages.
You can match the type of loan to
the type of home you’re buying.
An HVFCU Renovation Mortgage is
wonderful for those making
improvements to an older home.
Borrow up to 50% of the home’s
value.
HVFCU is so flexible, you can
even choose how you’d like to
apply for your loan. Apply for your
mortgage online in minutes using
our website and Rapid Link. Or, if
you’d prefer to speak to a Mortgage
Specialist, simply give us a call at
845-463-3011.
Watch for details on our
2007 opening date.
WATCH YOUR SAVINGS GROW
Few people get rich from their wages alone. However, by taking advantage
of the “miracle” of compounding — almost anyone can reach long-term
financial goals. By saving as little as $100 a month, you can build
considerable savings. The chart tells the story.
20 Years
Example of saving $100 a
month at a yield of 3%
$32,830
Ten Years
$13,974
Five Years
$6,464
One Year
$1,216
Now imagine what a higher amount could do! Use the simple savings goal
calculator at hvfcu.org to estimate your long-term savings using other
amounts and yields.
Yields and amounts are provided for example purposes only.
1) For a $200,000 30 Year Fixed Rate Mortgage at 6.625%, the APR is 6.629%. Your payment schedule would be 359 payments at $1,120.62 and 1 final
payment of $1,282.77.
2) The APR and principal and interest payments are subject to increase and will change after the loan is closed due to market-driven changes to the index.
Terms available and adjustments to the APR depend on the type of ARM you choose. The following is an example of a 1/1 ARM payment schedule based
on a $220,000, 30-year ARM loan, assuming a 20% down-payment, based on a composite rate of 7.47% APR; 1st year's monthly payments would be
$1,231.94 at a 5.375% start rate; 2nd year's monthly payments would be $1,512.83 at 7.375%; 3rd year and subsequent year's monthly payments
would be $1,567.04 at 7.75%; 1 final payment of $1,569.47. Rate is based on current rate.
Mortgage lending available for properties located in Connecticut, Massachusetts, New Jersey, and New York.
3
One sky dive experience, please
Visa ScoreCard reward points can make it happen
If a tandem skydive with full instructions isn’t what you fancy, then how about
being a fighter pilot for a day, or racing your own NASCAR stock car on a
championship speedway? These unique experiences and many others are possible
with HVFCU Visa Platinum and Visa Check Card Scorecard Rewards points.
Obviously, rewards like the experiences above require a large number of
points. But who ever saves for vacation in just a day? Setting a points goal is the
first step toward achieving them. Use your card as often as possible to keep
growing your points, always remembering to use your card for credit purchases
whenever possible. To check on your points total as you progress, logon to
scorecardrewards.com from our website (via a link under the loans/credit cards or
savings/checking & Visa Check Card w/Rewards menus)
and enter your card number. From there, choose
“Spotlights” experiences from the merchandise
menu, or travel rewards. There are literally hundreds
of items, experiences, and travel options listed from
which to choose. There’s no special trick to
redeeming your points. When you’ve finally
accumulated your goal points, simply make your
choice and follow the purchase procedures.
Logon today to see all that’s available and start
planning ahead for your great experience!
Let HVFCU help with your business expansion needs
Expansion can take on many different forms depending on your
business. If you own a service business your expansion may take the
form of requiring more staff and/or space. If you own a manufacturing
business your expansion may take the form of
requiring more fixed assets such as purchasing a
larger building and purchasing and/or upgrading
equipment.
At HVFCU we offer a variety of loan
products to meet our business members’
expansion needs.
Real Estate Loans are offered for the
purchase, refinance, or construction of real
property. These loans generally have a 5-10
year maturity and a repayment schedule of
15-25 years.
Term Loans are used to finance equipment,
vehicles, furniture, and long-term working capital
requirements. These loans generally have repayment
terms of 5-10 years or the useful life of the asset.
Revolving Lines of Credit can be used to fund expansion by providing
advances on an as needed basis. As an example, if you plan to add staff
and purchase equipment over a two-year period, you can borrow money
when you need it rather than taking it all at once and having to start
repaying before you start generating more income. These loans generally
have a draw period of 1-2 years with repayment during that period of
interest only monthly on the outstanding principal balance. At the end
of the draw period or earlier the outstanding principal balance is then
converted into a term loan with a repayment period of 2-5 years.
Provided HVFCU can secure a government guarantee from the Small
Business Administration, the terms outlined above may be more liberal.
For more information, arrange for a meeting with a Business Services
professional at HVFCU.
4
Loan coverage that pays
when you need it most
Mechanical Repair Coverage: Most
new car dealers offer extended
warranty coverage on your vehicle
for the first three to four years of
ownership, when your car has little
or no problems. The years following
are when your vehicle is most at risk
for repair and when you need
coverage most. The answer to this
problem is Mechanical Repair
Coverage (MRC) from your credit
union. Add-on to your present
dealer warranty plan or purchase
complete coverage when you apply
for your vehicle loan. MRC offers
three price levels of coverage and
includes car rental, towing
reimbursement, 24-hour roadside
assistance, and emergency travel
expense.
Gap Protection Insurance: Protect
yourself against potential out-ofpocket expenses that could arise
when an insurance settlement from
a damage or theft claim is less than
your remaining loan payoff amount.
For a small flat fee Gap Protection
Insurance can help bridge the
resulting coverage “gap.”
(Note: New York State law does not
permit GAP Protection coverage of
the deductible on a primary
insurance policy.)
Credit Life & Credit Disability
Insurance: When it comes to
taking out a loan, HVFCU has
always offered great rates, fast
approvals, and friendly, convenient
service. But did you know that we
also offer insurance for protecting
your payments? If you become
disabled or die before your loan is
repaid, credit life and credit
disability insurance can help reduce
or pay off your remaining loan
balance. For just pennies for each
$100 borrowed, you can have peace
of mind. Ask for details when you
apply for your next vehicle loan, or
visit our website for more
information.
Protect your password
Volunteering is a perfect fit
to help protect your identity
If you have a personal computer,
think of the information you
probably have stored there, things
like financial information,
electronic tax returns, your PDA
data, insurance information,
spreadsheets—and the list goes on
and on. All this information is
generally password accessible. A
login/password/PIN is your first
line of defense against identity
theft, so keeping it safe—and never
sharing it with anyone—is just
common sense. Here are some
important tips recommended by
the Better Business Bureau Online
concerning password protection:
Larry J. Prescott
Larry J. Prescott has volunteered with Hudson Valley Federal Credit
Union for almost ten years now, and it’s a challenge he truly enjoys. Not
only has he helped set credit union policy as a
member of the Board of Directors, he also assists the
Treasurer, serves on the Asset Liability Management
Committee, and Chairs the Benefits Review
Committee and Annual Meeting Committee.
“I enjoy seeing how the credit union operates, and
I enjoy working with both the volunteers and the
paid professional staff,” said Prescott. “I thought
volunteering was something I’d like to try, and I
found out I liked it quite a lot.”
He also believes that the more you give to HVFCU,
▲ Larry J. Prescott
the more you gain in return. “It takes some effort,
certainly. But, it is important to the operation of the credit union,” said
Prescott. “I’ve learned a lot, and I truly believe anyone can gain a lot from
the experience.”
Use unique passwords. Create
Nancy Kappler-Foster
your password using a combination
of letters, numbers, and symbols to
make your password virtually
impossible to guess.
Thirty-five years after she first became a member, Nancy KapplerFoster still thinks Hudson Valley Federal Credit Union is the best deal in
town. It’s one of the many reasons why she decided
to volunteer as a member of the credit union’s
Supervisory Committee.
“I knew I wanted to continue working in the
financial field after I retired,” said Kappler-Foster,
whose background is in corporate accounting.
“And, I wanted to volunteer for a place I already
had a connection with. HVFCU was a perfect fit.”
Kappler-Foster applied for the Supervisory
Committee in 2002, and is now serving her second
three-year term. She is proud of her volunteer work
with
HVFCU, and she encourages others to give
▲ Nancy Kappler-Foster
their time.
“We are helping members reach their financial goals by providing a
wide array of products and services at a solid, member-oriented financial
institution,” she said. “As individuals reach their goals, the community is
a better place to live.”
Use passwords wherever you
can. It's not only your PC that
contains sensitive information.
What if your laptop was stolen, or
your PDA or your cell phone?
Nearly all these electronic devices
allow you to set password
protection.
Change passwords regularly. It’s
hard to remember to change
passwords, and harder still to
remember which sites have which
passwords. It may actually be better
to use fewer passwords and change
them more regularly than to have
many and fail to change any of
them. Twice each year, we set our
clocks—once forward and once
back. This may be a good time to
remember to not only set your
clock, but to change your passwords
as well.
Don't set your system to
“Remember My Password.” When
you first create or enter a password,
your software may offer you a "popup box" with a friendly query about
whether you'd like the system to
remember this password whenever
you attempt to log into the
program. However, if someone else
can guess your login, the password
helpfully allows that person entry
into your system. Wherever
possible, disable these memorized
features.
Join us Credit Union Week
Help us celebrate Credit Union
Week, October 16-20. Sign up for
Don't write passwords down.
one of our free seminars (pg. 7)
This is a tough one. Passwords are
hard to remember, and there is a
terrible temptation to write them
down. But written passwords are no
good unless they are near your PC,
or laptop or cell phone or other
device. So people tape them to the
underside of keyboards and mouse
pads or carry them in a laptop case
or wallet or purse—the first places
that thieves look.
or bring your confidential items in
for shredding (pg. 6). Be sure to
stop by your favorite branch for a
light snack and complimentary
gift on Credit Union Day,
Thursday, October 19th.
5
Notes of Interest
HOLIDAY CLOSING
Non-IBM branches are closed:
Columbus Day, October 9th
Veterans’ Day, November 11th
Thanksgiving Day, November 23rd
Christmas Day, December 25th
New Year’s Day January 1st
IBM Branches are closed:
Thanksgiving Day, November 23rd &
November 24th
Christmas Day, December 25th
New Year’s Day January 1st
Confidential Shredding Service
Members are invited again this
year to bring their personal and
confidential materials to HVFCU
for shredding—free of charge. Iron
Mountain Mobile Shredding will be
visiting three of our branches on
Saturday, October 14th.
n Hopewell Junction Branch
415 Route 376
8:30 am to 10:30 am
n Poughkeepsie Branch
159 Barnegat Road
11:30 am - 1:30 pm
n Pleasant Valley Branch
12 North Avenue
2:30 pm - 4:30 pm
Paper items only, please; paper
clips and staples are acceptable. No
binders or hard/soft cover books.
Corrugated boxes should be taken
home once contents are removed.
2007 NYSCUL Scholarship
Program
Members who are graduating high
school seniors and planning on
attending college for the first time
have a chance to win a college
scholarship through New York
State Credit Union League’s annual
scholarship program. In 2006, the
League awarded a total of $17,500
to 24 students: eleven $1,000
scholarships and thirteen $500
awards. Judging is based on
academic performance,
extracurricular and community
activities, an essay question, and a
teacher’s reference. Applications
take time to complete and
additional documentation is
6
requested, including a teacher’s
written reference and an essay, so
allow time to gather these
materials. Pay strict attention to
the submission due date noted on
the application.
If you are eligible and would
like to apply, stop by any branch in
December (when applications
become available), or call to have
an application mailed to you.
Because of the large number of
applications received, the League
will only contact applicants who
have been awarded scholarships.
The credit union is not privy to
information on winners until after
scholarships have been awarded
and only if an HVFCU member has
won. The League will notify
winners by April 2007.
For more information on this
and other scholarship
opportunities, visit the Young Adults
section of My HVFCU menu on our
website at www.hvfcu.org.
Regulatory Notice
As a result of a regulatory ruling,
HVFCU will make a change in the
way it reports your checking
account balance as a part of an
aggregate total to the Federal
Reserve Bank (FRB). HVFCU
checking accounts will now be
structured into checking and
savings sub-accounts for regulatory
accounting purposes only. HVFCU
may periodically transfer funds
between these two sub-accounts.
This change will not affect your
available balance, dividend
earnings on dividend bearing
accounts, NCUA insurance,
statement or any other feature of
your checking account. This will
allow us to substantially lower our
reserve requirement balance at the
FRB and increase the amount of
funds available for loans and
investments, thereby increasing our
ability to better serve our members.
AutoSmart Enhancement
Check out the AutoSMART website
link from our Auto Resource Center
through the Loans menu on our
website. AutoSMART is a new tool
that can help you search for a new
auto at over 7,500 dealers
nationwide and is a convenient
resource for consumer articles, used
car pricing, and much more. It’s
the perfect planning tool for
selecting and finding your next
new car.
Call for Candidates
If you’re interested in serving
your credit union in a volunteer
capacity, now is your chance! It’s
election time for our Board of
Directors. The Board of Directors is
responsible for establishing policies
that will benefit members, help
maintain our fiscal integrity, and
ensure we adhere to federal
regulations. While unpaid,
board members do receive
reimbursement for business-related
expenses.
Our board meets monthly, and
you may be asked to sit on a
special committee. If you want to
lend your time and talents to help
your financial cooperative, pick up
an application for the board
election at any branch, or call our
Information Center and we’ll mail
one to you. The form includes
instructions for completion.
Applicants may also wish to be
considered for our Supervisory
Committee or other committees.
If you want to become an
active participant in your credit
union’s future, then volunteer!
Completed applications and
resumes must be postmarked by
Friday, November 3, 2006 for
consideration. We look forward
to receiving yours.
HVFCU Motorcycle
Financing through the
dealer. On-the-spot HVFCU
financing for motorcycles is now
available through selected local
dealers. To see the point-of-sale
participants list, go to the Auto
Resource Center under the Loans
menu at www.hvfcu.org.
Free & informative
Credit Union Seminars
Handling the Unexpected
The death of a spouse can be devastating. Sudden losses can be even
harder. If your spouse managed the majority of the financial
responsibilities, just paying bills can seem overwhelming. But you can
work your way through it. It is manageable.
Try not to make any long-term decisions right away. Take your time.
Emotional times are not the best times to make decisions.
Paperwork. Gathering the proper paperwork is the first step in settling
your spouse's affairs. Start with the following:
▲ Death Certificate: The death certificate will be needed for
many financial procedures you will encounter. You should request
several copies from the funeral director or county health
department.
▲ Insurance Policies: These will help you determine benefits you
are entitled to.
▲ Marriage Certificate: If you can't find your marriage certificate,
you can usually get a copy from the courthouse of the county in
which you were married.
▲ Birth Certificates for Dependent Children.
▲ Certificate of Discharge from the Military: If your spouse was in
the military, you may need his or her certificate of discharge to
collect benefits.
▲ The Deceased's Will
▲ Complete List of all Property
Many of the documents you need may be held in a safe deposit box. If
you can open this safe deposit box before your spouse's death, take out
all the contents of the box. Some states seal the boxes after a death, even
if the box is registered in both your names. If your spouse has already
died and the box is sealed, consult your attorney about getting court
permission to access the box.
Use the paperwork you gathered to claim the following: Life insurance
benefits, Social Security, employee spousal benefits, veterans’ benefits, or
organization benefits.
Make sure you have health insurance. Call your spouse's company to see
if you're still covered and for how long. If you're not, get medical
insurance right away.
Get your finances in order. If you receive a life insurance benefit, save
that money. Put it into a dividend-bearing account such as a savings
account or money market account. But keep it liquid. You may need it.
You can always invest it later. Visit your credit union to go over the status
of your accounts.
Seating is limited, so sign up online
at www.hvfcu.org or call to reserve
your place at one or more of these
timely sessions. Friends and
neighbors welcome!
n Safety, Security, & Financing For
Small Business Owners
10/17 - 8:00- 9:30 am
Greater Southern Dutchess
Chamber of Commerce Office
Nussbickel Building
2582 South Ave. (Route 9D)
Wappingers Falls
R.S.V.P. to 463-3011, ext. 2400.
n Living Trusts & More
Avoid Probate, Reduce Estate Taxes
10/17 – 3:30-5:00 pm
Greater Southern Dutchess
Chamber of Commerce Office
Nussbickel Building
2582 South Ave. (Route 9D)
Wappingers Falls
R.S.V.P. to 463-3011, ext. 2110.
n Wills & Probate
10/19 – 3:30-5:00 pm
Cosimo's Trattoria
20 Delafield St., Poughkeepsie
R.S.V.P. to 463-3011, ext. 2110.
n Understanding and Avoiding
Phishing Scams
10/19 - 6:30-8:00 pm
Fishkill Holiday Inn
Route 9, Fishkill
R.S.V.P. to 463-3011, ext. 2000.
n The Inherited IRA
What to do with the funds if you
are an IRA beneficiary
10/24 – 3:30-5:00 pm
Cosimo's Trattoria
120 Delafield St., Poughkeepsie
R.S.V.P. to 463-3011, ext. 2110.
10/25 – 3:30-5:00 pm
Cosimo's on Union
1217 Route 300 (Union Ave.)
Newburgh
R.S.V.P. to 463-3011, ext. 2110.
n Which Mortgage is Best For You -
Fixed or Adjustable?
10/26 - 6:30-8:00 pm
Fishkill Holiday Inn
Route 9, Fishkill
R.S.V.P. to 463-3011, ext. 2300
7
845-463-3011 I 800-468-3011 I WWW.HVFCU.ORG
HVFCU Directory
Directors & Officers
T. S. Jones, Chairman
Joseph E. Eppich, 1st Vice Chairman
Takao Inouye, 2nd Vice Chairman
David S. Bagley, Secretary/Treasurer
Larry J. Prescott, Assistant Treasurer
Ruth Graham, Director
Werner H. Lackner, Director
Henry J. Rodgers, Jr., Director
Salim Sunderji, Director
Jan. B. Mahar, Director Emeritus
Ralph E. Plant, Director Emeritus
Supervisory Committee
William J. Mulvey, Chairman
Kathleen A. Dispensa, Secretary
Stephen M. Caswell, Member
Nancy Kappler-Foster, Member
Noreen Hennessy, Member
Patricia O'Connell, Associate Member
President/CEO
Mary D. Madden
Branches
Monday-Friday 8:30-7:00
& Saturday 9:00-5:00
4 Tucker Drive, Arlington
449 Route 9, Dutchess Mall, Fishkill
4011 Albany Post Road, Hyde Park
953 Route 300, Newburgh
12 North Avenue, Pleasant Valley
159 Barnegat Road, Poughkeepsie
11 Marshall Road, Wappingers Falls
415 Route 376, Hopewell Junction
Monday-Friday 8:30-5:30
1 Civic Center Plaza, Poughkeepsie
IBM Branches
Monday-Friday 8:00-4:30
IBM Buildings 320, 330, 416, 705
HVFCU ATMs
All HVFCU Branches
Adams Fairacre Farms,
Route 44, Poughkeepsie
Blue Cross/Blue Shield, Middletown*
Gap/Old Navy Distribution
Center, Fishkill*
Mohonk Mountain House, New Paltz
1810 South Road, Nine Mall,
Wappingers Falls
Poughkeepsie IBM
Bldgs. 052, 416, 705, 708*
East Fishkill IBM
Bldgs. 300, 320, 323, 330*
Vassar Brothers
Medical Center, Poughkeepsie
*Employee
accessible only
24-Hour Drive-up ATMs
Arlington, Dutchess Mall, Hopewell
Junction, Hyde Park, Newburgh,
Pleasant Valley, and Poughkeepsie
Branches
Bridgeview Plaza, Route 9W, Highland
CVS Plaza, Route 44 & West Road,
Pleasant Valley
1810 South Road, Nine Mall,
Wappingers Falls
Telephone
845-463-3011/800-468-3011
Online Services
www.hvfcu.org
TDD (for hearing impaired)
845-463-1709
Supervisory Committee
845-463-6934/800-468-3011
Mailing Address
159 Barnegat Road
Poughkeepsie, NY 12601
Your savings federally insured to $100,000
National Credit Union Administration,
a U.S. Government Agency
8
Federally
Insured by
NCUA
We Do Business
in Accordance with the
Federal Fair Housing
Law and the Equal
Credit Opportunity Act
SHAREDinterests IS A QUARTERLY PUBLICATION OF
v
Savings Yields EFFECTIVE 9/9/06 Call for Current Rates
Annual Percentage Yield
Dividend Rate
Regular & Holiday Savings ..............................................
1.75
1.73
IRA Savings (Traditional, Roth, Education) ............................
2.00
1.98
Checking ..........................................................................
.50
.49
Money Market - $1,000-$19,999 ....................................
1.85
1.83
$20,000-$49,999 ..................................
2.15
2.12
$50,000-and over ..................................
3.10
3.05
Presented here are the Dividend Rate and Annual Percentage Yield (APY) for all Savings, IRA Savings, Checking,
and Money Market Accounts. The minimum balance to open an account is $5.00, except for a Money Market
Account, which is $1,000. The Dividend Rate and APY may change at any time as determined by the credit
union’s Board of Directors. For Savings, IRA Savings, and Checking, there is no minimum balance required in
order to earn the disclosed APY. The Money Market Account is tiered at APY levels of $1,000, $20,000 and
$50,000, and earns a different dividend rate and APY based on the daily balance. There is no minimum daily
balance requirement to obtain the APY for the lowest tier. Fees could reduce earnings on Money Market
Accounts. For all accounts, dividends are paid from current income and available earnings, after required
transfers to reserves at the end of a dividend period.
The maturity date for the Holiday Club Account is October 1st.
Annual
Percentage
Yield
Certificate Accounts
3-5 Months ..........................
6-11 Months ........................
12-17 Months ........................
18-23 Months ........................
24-35 Months ........................
36-47 Months ........................
48-59 Months ........................
60-84 Months ........................
Annual
Percentage
Yield
Dividend
Rate
Dividend
Rate
IRA Certificate Accounts
4.11
4.61
4.77
5.40
4.85
4.87
4.90
5.10
4.02
4.50
4.66
5.26
4.73
4.75
4.78
4.97
Flex Certificate
12 Months .............................. 5.21
5.07
(Traditional, Roth, Education)
3-5 Months ..........................
6-11 Months ..........................
12-17 Months ........................
18-23 Months ........................
24-35 Months ........................
36-47 Months ........................
48-59 Months ........................
60-84 Months ........................
4.26
4.76
4.92
5.55
5.00
5.02
5.05
5.25
Flex IRA Certificate
12 Months .............................. 5.21
4.17
4.65
4.80
5.40
4.87
4.89
4.92
5.11
5.07
Presented here are the Dividend Rate and APY for each certificate account. The minimum to open a regular
certificate account or a regular IRA certificate account and earn the stated APY is $500. The minimum to open a
regular Flex certificate account or a Flex IRA certificate account and earn the stated APY is $750; APY is based on
the quarterly 3-month Treasury Bill auction rate plus an additional .25%; rate subject to change after account
opening. Please call 845-463-3011 or 800-468-3011 to obtain current rate information. If a Certificate Account is
opened, the applicable Dividend Rate and APY set forth in this brochure would be paid for the length of the term
listed for such account. A substantial penalty will be imposed for early withdrawal.The Dividend Rate and APY
may change at any time as determined by the credit union’s Board of Directors. Call for current rates. All
accounts are subject to the applicable terms and conditions set forth in the Truth-in-Savings Disclosure and
Account Agreement and IRA Agreement. Fees or other conditions could reduce earnings on these accounts.
Loan Rates EFFECTIVE 9/9/06 Call for Current Rates
New & Used Vehicles..............
New & Used Motorcycles......
New Boats, RVs ....................
Used Boats, RVs ....................
New Mobile Homes ................
Used Mobile Homes ................
Stock (NYSE, AMEX)............
Stock LOC ............................
Pledge of Certificate Account
& Pledge of Savings
Readi-Cash Unsecured LOC ..
Home Equity LOC ................
Home Equity Loan ................
Home Improvement ..............
Savings Secured LOC ............
Visa Classic ............................
Visa Gold ..............................
Visa Platinum ........................
Higher Education ..................
Signature ................................
Fixed
APR
6.25*,1
6.50*,1
7.20*,1
7.50*,1
10.25*,1
10.75*,1
8.251
n/a
ADRb+3%
n/a
n/a
6.20*,1
7.501
n/a
n/a
n/a
n/a
n/a
11.25*,1
Variable
APRa
5.20*,1
n/a
6.25*,1
6.50*,1
10.00*,1
10.00*,1
7.751
7.751
n/a
10.75*,1
7.20*,1
n/a
6.751
4.735
9.50c,d
8.90d
12.90d
10.751
11.00*,1
*Rates for this product are as low as stated. Rate
is based on an evaluation of applicant credit. Rate
is also based on the selected term for vehicle and
home equity loans and on the total amount
financed for home equity loans and home equity
lines of credit. Total amount financed is based on
an evaluation of applicant credit for vehicle loans
and the appraised value for home equity loans
and home equity lines of credit. Your rate and
total amount financed may vary from the stated
rate and maximum financing.
a
APR is subject to increase; bAnnual Dividend
Rate; cAnnual fee for Visa Classic is $15; dThe
special rates are in effect until the October 2006
statement billing date. The current indexed rate
is 16.75% for Visa Platinum, 12.75% for Visa
Gold, and 12.75% for Visa Classic. These rates
may vary.
1
The rate stated is discounted by .25% and includes
a requirement that loan payments are automatically
transferred from your savings or checking account
for the life of the loan. The monthly payment is
not decreased as a result of this discounted rate.
The discounted rate only applies to new loans
and newly refinanced loans from another lender.

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