SRP Recognizes 100,000th Member

In This Issue
Page 2
Giving Annuities a Second
Look
Youth Transform into Super
Savers This April
People News
Page 3
Debit Cards: Use Caution
During Some Transactions
Dont’ be a Target for Identity
Theft
Page 4
Annual Meeting Election
Results
Refinancing Surge Offers
Great Opportunity
Page 5
Branch Locations
Tips for Parents Whose Kids
Move Back Home
Page 6
Shred Schedule
Recipe Corner
Holiday Schedule
For Your Information
Blood Drive
SRP Recognizes
100,000th Member
At SRP Federal Credit Union’s 52nd
Annual Membership Meeting, president Ed
Templeton recognized the 100,000th member
of the credit union. Mitchell Kelley was the
lucky member and he got a surprise of 100,000
pennies! Rather than taking all those pennies
home, Mr. Templeton presented Mitchell with
a $1,000 check. Mitchell is 17 years old and a
resident of Martinez.
Giving Annuities a Second Look
Content developed by CUNA Brokerage Services,
provided by Les Branson
Today, you have more investment choices
than ever before. But one of the most popular
investments is also one of the oldest. Take a
minute to get reacquainted with how annuities
might be able to help you reach your financial
goals.
What is an Annuity?
An annuity is a contract between you and an
insurance company. You buy an annuity to
provide you a stream of income guaranteed by
the insurance company to last for as long as
you live.
Qualified and Non-Qualified Annuities
An annuity is qualified when it is associated
with an employee benefit plan. There are limits
on how much you can invest in qualified
annuities. A non-qualified annuity also grows
tax-deferred, but has no contribution limits.
Investors often purchase non-qualified annuities
after they have maximized participation in an
employer-sponsored plan.
Fixed and Variable Annuities
A fixed annuity guarantees to pay a specified
rate of interest on the accumulated value of the
annuity for a specified period of time. With a
variable annuity, the accumulated value will vary
with the performance of the investment options
chosen by the contract owner. These investments are not FDIC-insured, nor are they
deposits guaranteed by a financial institution.
The Taxation of Annuities
Any earnings in an annuity are “tax-deferred,”
until withdrawn. When withdrawn, earnings
are taxed as ordinary income. There is typically
a 10% federal tax penalty on earnings withdrawn
before age 59½.
Get Advice when Purchasing an Annuity
A financial advisor can help you evaluate the
benefits and risks of a particular annuity so
that you can determine if it is appropriate for
your own unique financial situation.
Les Branson is a Financial Advisor with MEMBERS
Financial Services located at SRP Federal Credit Union.
If you have any questions, or would like to provide
feedback, regarding the information presented in this
article, you may contact Les Branson at 803-510-3835.
Representative is not a tax advisor or legal expert. 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
(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.
FR040818-C2B7
Youth Transform into
SUPER SAVERS this April
Who hasn’t
wished for super
powers? Since
superheroes hone
powers to save
people from harm
and take action to
protect the common
good, it’s no surprise
that youth around
the country admire
them. Little do kids
know, they also have
the power to protect
the future by
becoming credit
union super savers.
To show kids
the powers they
have to save and
safeguard their money, visit SRP Federal Credit Union the week of
April 22-28 and help us celebrate National Credit Union Youth
Week. This year's theme, "Be a Credit Union Super Saver" shows
youth how SRP can help them utilize their own strengths and
credit union resources to meet financial goals.
Whatever young members are saving up for, their trusty
sidekicks at SRP are ready to lend a hand. That's because SRP is
for members, by members, and we want our sensational youth to
be prepared for the future.
So stop by and get in on the action! Come by a branch and see
if you can use your super powers to guess how many pennies we
have on display in our “Penny Guess Jar.” Kids 12 and under can
play! The 3 closest guesses will win a $25 deposit into their
account and Frugal Freddie gifts!
Come with your young super savers to see your trusty sidekicks
at SRP, where we help you save money one dollar at a time.
Copyright 2012 Credit Union National Association Inc. Information subject to change
without notice. For use with members of a single credit union. All other rights reserved.
SRP People News
SRP is proud to announce four new Assistant
Vice Presidents for the four branch regions.
Chuck Hallman – Barnwell Region
Renee Rinder – Augusta Region
Janice Bryant – North Augusta Region
Pamela Frazier – Aiken Region
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Debit Cards:
Use Caution During
Some Transactions
Your debit card looks like a
credit card and feels like a credit
card, so it must work exactly like a
credit card, right?
The truth is that your debit card
and credit card differ in a big way
when it comes to fraud. If a thief
obtains your credit card or credit
card number, you'll most likely
notice the unauthorized charges on
your bill. You then can report and
decline those charges.
However, if a thief obtains your
debit card or debit card number,
transactions pull funds straight from
your checking account. In the case
of a fraudulent transaction, you'll
need to receive reimbursement for
the stolen funds. And depending on the extent of the damage, the time
needed to process your reimbursement could leave you in a financial bind.
To avoid debit card drama, be careful when swiping your debit card for
some transactions. Bankrate on its website recommends using extra caution
at these locations:
•
•
•
•
Outdoor ATMs. Thieves often have an easier time affixing skimming
devices, which steal your card's information, to isolated, easily accessible
outdoor machines. Skimming devices are usually hidden over an ATM's
card slot, and can be difficult to spot. If possible, use an ATM inside a
financial institution or retail store. If you must use an outdoor ATM, aim
for one in a busy, well-lit area, and check the card reader for any
components that don't look quite right.
Gas station pumps. Like outdoor ATMs, gas station card readers also
provide ideal opportunities for skimming. Pumps that aren't monitored
closely make it easy for thieves to attach skimming devices or small
cameras to a card reader without detection. Before you swipe, examine
card readers for anything that looks suspicious.
On the Web. Making online purchases with a debit card is risky--your
information can be compromised at multiple points in a transaction. Data
breaches, unsecured wireless Internet connections, or malicious software
on your own computer all could put your data at risk. Opt for your credit
card when shopping online--and even then, only buy items from
businesses you trust.
Restaurants. Handing your debit card over to a restaurant server at the
end of a meal also can be risky. A server who disappears to run your card
could be privately nabbing your card information, as well. You simply
don't know so it's better to turn to your credit card or cash in this instance.
Dont’ be a Target
for Identity Theft.
Sign up for
E-Statements
Today!
Enroll today to enjoy the
benefits of receiving E-Statements from SRP.
• Safer than paper statements which can be stolen
from your mailbox
• Less paper to manage and
organize
• Faster than traditional
paper statements
• Read your member
newsletter online
• It’s free!
To sign up you must be
a SRP Online user.
Once logged in to
SRP Online, click the
E-Statements tab to begin!
Source: Credit Union National Association
3
52ND ANNUAL MEETING ELECTION RESULTS
Your annual membership meeting was
held on March 13, 2012 at the James
Brown Arena. The yearly event provides
members the opportunity to vote and elect
board members who volunteer their time
to help guide and direct the credit union in
its programs and services. Goldie Randle,
Chuck Goergen, Sandra DeVoe Bland, and
Larry Pridemore were reelected to the
Board of Directors. Eric Frickey was
reelected to the Credit Committee. Over
500 members came to participate in the
business meeting. All attendees received
an appreciation gift and a total of $3,000
was given away in cash prizes!
Refinancing Surge Offers Great Opportunity
If you’re a homeowner thinking about refinancing to cash in on record-low interest rates, you’re
in good company. Before you take the plunge, understand all your options and run the numbers.
If you’re only focused on making smaller monthly payments, you
might be missing out. Many borrowers are switching to shorter
terms, such as 15-year loans. Normally such a change would
yield higher payments but, because of record low interest
rates, the monthly payment may change only slightly.
Compare monthly payments and total interest costs for 30-,
20-, 15-, 12-, and even 10-year fixed options, if available.
Because your home likely is the biggest financial
purchase you make, and refinancing at current rates could
yield the biggest reduction in overall interest payments you’ll
ever get, take time up front to get it right:
©
©
©
Clean up your credit.
Shop for the best rate. Start at SRP and ask about
options and rates before you formally apply.
Gather documentation.
Don’t assume rates are going to keep going down, and don’t
focus only on interest rate. A shorter term, even with a slightly higher
monthly payment, could save you tens of thousands of dollars in interest over the life of the loan.
Remember that refinancing is not always in your best interest. We can develop a break-even calculation
that shows how long you’d need to stay in your house to recoup closing costs and points.
The current rate environment is an unprecedented chance to secure a low-rate mortgage that can build equity
and free up cash. Talk to a SRP home loan specialist today to learn about the benefits and your alternatives.
Copyright 2012 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union.
All other rights reserved.
4
Visit us Today at a
Branch Near You!
AIKEN
n Aiken Regional Medical
Center
302 University Parkway,
1st Floor
Aiken, SC 29801
n Silver Bluff Road Branch
1060 Silver Bluff Road
Aiken, SC 29803
n Richland Avenue Branch
3559 Richland Avenue, West
Aiken, SC 29801
AUGUSTA
n Broad Street Branch
771 Broad Street
Augusta, GA 30901
n Pine Log Road Branch
750 E. Pine Log Road
Aiken, SC 29801
n Richland Avenue Express
3515 Richland Avenue
Aiken, SC 29801
n Rutland Drive Branch
390 Rutland Drive
Aiken, SC 29801
ALLENDALE
n Allendale Branch
190 Flat Street
Allendale, SC 29803
n Peach Orchard Road Branch
Windsor Square Shopping
Center
3120 Peach Orchard Road
Augusta, GA 30906
n Tobacco Road Branch
Augusta South Square
2215 Tobacco Road
Augusta, GA 30906
MARTINEZ
n Davis Road Branch
125 Davis Road
Martinez, GA 30907
BARNWELL
n Barnwell Branch
10660 Dunbarton Blvd.
Barnwell, SC 29812
NORTH AUGUSTA
n Administrative Campus
1070 Edgefield Road
North Augusta, SC 29860
BURNETTOWN
n Burnettown Branch
2521 Jefferson Davis Hwy.
Warrenville, SC 29851
EDGEFIELD
n Edgefield Branch
225 Apple Square Plaza
Edgefield, SC 29824
EVANS
n North Belair Road Branch
100 SRP Drive
Evans, GA 30809
n North Augusta Branch
403 W. Martintown Road
North Augusta, SC 29841
n North Augusta Express
605 E. Martintown Road
North Augusta, SC 29841
n Walnut Lane Branch
1070 Edgefield Road
North Augusta, SC 29860
SITE BRANCH
n Savannah River Site
730-4 B Building
Aiken, SC 29803
Tips for Parents Whose Kids Move Back Home
Millions of people
between the ages of 25
and 34 live with their
parents. While many
adult children return
home for just a short
period after college
while they look for work,
others come back for a
variety of reasons – and
often for longer stays.
Divorce, unemployment,
a high debt load, or a
return to school are just
a few of the circumstances under which
your kids may decide to
"boomerang" back home.
Here are some tips. Be clear about the
conditions. Discuss length of stay, plans for
employment, extent of financial support, and
expectations for financial or in-kind contribution.
If you charge rent, start out low and gradually
raise it over time to give kids an incentive to get
back out on their own.
Write up a rental
agreement spelling out
the amount, when it will
be raised and to how
much. Or charge market
rent--about 30% of takehome pay, or 40% if you
include utilities – and
put all or part of it away
in a savings account that
your child eventually
can use to get her own
place.
It's crucial for parents
to realize they're not
doing their kids any
favors by giving them a
free ride forever. The goal should be to create an
arrangement that both supports your children
and encourages them to move on.
Copyright 2008 Credit Union National Association Inc. Information
subject to change without notice. For use with members of a single
credit union. All other rights reserved.
5
2012 Shred Schedule
Available 4:00 - 5:30 PM
Recipe Corner
4/23 – Monday – Pine Log
4/24 – Tuesday – North Augusta
4/30 – Monday – Davis Road
7/23 – Monday – Pine Log
7/24 – Tuesday – North Augusta
7/30 – Monday – Davis Road
10/22 – Monday – Pine Log
10/23 – Tuesday – North Augusta
10/29 – Monday – Davis Road
Shred services are for members and personal documents only.
Visit our website, www.srpfcu.org, for branch locations.
2012 Holiday Schedule
Monday, May 28 ..................................................................Memorial Day
Wednesday, July 4 ..................................................Independence Day
Monday, September 3..............................................................Labor Day
Monday, October 8..........................................................Columbus Day
Monday, November 12......................................................Veterans Day
Thursday, November 22.........................................Thanksgiving Day
Tuesday, December 25...................................................Christmas Day
The above scheduled holidays will be observed by the closing of all offices of SRP.
SEAFOOD GUMBO
1 cup chopped onion
1 cup chopped green peppers
1 cup chopped celery
1 clove of garlic
1/4 cup of butter or margarine
28 oz can of peeled tomatoes, chopped
(undrained)
2 cups of chicken broth
1/4 to 1/2 tsp ground red pepper
1/2 tsp thyme leaves
1/2 tsp of basil leaves
1/4 tsp of ground black pepper
1 lb of crab meat
1/4 lb peeled, deveined shrimp
3 cups of hot cooked rice
Cook first four ingredients in butter over
med heat until tender crisp. Add tomatoes,
broth, red pepper, thyme, basil and black
pepper. Simmer uncovered 20-25 mins.
Add crab and shrimp; simmer additional
10-15 mins. until cooked. Ladle into
bowl. Serve rice on top. Makes 6 servings.
Recipe submitted by Sheena McCray
For a chance to see your recipe here
and to win a SRP umbrella,
submit your recipe by email to
[email protected] or mail to:
SRP Federal Credit Union
Attn: Marketing Department
P.O. Box 6730
North Augusta, SC 29861
Blood Drive
Scheduled
for SRP
The Shepeard Community
Bloodmobile is scheduled to be
in the Walnut Lane Branch
(1070 Edgefield Road, North
Augusta, SC) parking lot from
9:00 a.m. until 1:00 p.m. on
Friday, April 6, to take
blood donations.
Give the gift of life!
Be a blood donor.
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