Meet Your Branch: Kirtland SLFCU Alleviates Home Buying

October 2015
SLFCU Alleviates Home Buying Concerns
Longtime Member Confident About Buying First Home
Although Stacey Dalton knew it made financial sense to buy a home rather than
continuing to pay rent, she was reluctant about getting started.
Because she has a busy work schedule, Stacey was overwhelmed by the thought
of doing the research about budget, loan types, real estate agents, properties,
inspections, and negotiations.
With her lease renewal coming up in the spring, Stacey decided this was the year
to look into buying a home. Her first step was to call SLFCU.
Stacey made an appointment with Senior Mortgage Loan Advisor Penny
Denman and learned about the HomeAdvantageTM program, through which she
found real estate agent Britt Harville of Harville Realty. She was able to meet
with Penny and Britt on the same day so she could start exploring mortgage
options and properties during a single vacation day.
Stacey Dalton began the home buying process in February,
and she closed on her new home in late May.
“The information Penny and Britt provided made me feel better, like I could take
things step by step,” Stacey says.
Continued on page 3
Preparing for the Future
Your SLFCU Accounts
Ensuring your financial
affairs are in order can
greatly reduce the time and
effort required of your loved
ones after you have passed.
Here are some suggestions
that can help provide peace
of mind and clarity.
Review Your Assets.
It can be beneficial to review all of your assets,
including SLFCU accounts, and confirm that
everything is allocated and held as you intend. For
example, if you’ve created a trust, you may want to
review your accounts and other holdings – including
safe deposit boxes – and confirm the ones you intend
to be in the trust have been properly placed in the
trust’s name.
Keep Your Financial Affairs Organized.
Consider collecting important documents, such as
your will and any trust agreements and amendments,
and creating a list of where and how your assets are
held. Having a resource that can act as a roadmap
can help your beneficiaries or loved ones navigate
your affairs. As with any sensitive information, be
sure to keep this information secure.
Review Individuals Associated with Your Accounts.
It is prudent to periodically review who, if anyone
beyond yourself, is entitled or authorized to access your
account(s). Different types of roles or ownership can
have different legal and tax implications, and you may
want to consult with an estate planner, attorney, or tax
advisor to structure your affairs to best meet your goals.
Left to Right – Mary Venn, Teller/Senior Financial Service Representative (FSR);
RaeAnne Trujillo, Teller/Financial Service Officer (FSO); Natalie Ayala, Teller/FSO;
Samawi Miller, Teller/FSO; Theresa Hindsman, Teller/Senior FSR; Nathaniel Armendariz,
Branch Manager; Becky MacFarlane, Teller/FSO; Sharon Clark, Branch Supervisor
Meet Your Branch: Kirtland
SLFCU’s Kirtland branch was built in 1969 – almost 21 years after the first
office was opened in a wooden WWII barracks building on Kirtland Air
Force Base. Since then, the branch has continued to change to accommodate
SLFCU’s growth in membership.
Kirtland is unique in that it was SLFCU’s first full-service branch and
was built specifically for the convenience of Sandia National Laboratories
employees. This history, along with member involvement, is what makes
the member relationship so special at the Kirtland branch.
Teller/FSOs RaeAnne Trujillo and Natalie Ayala said the staff gets to know
the members almost like family because they get to see them so frequently.
This dynamic is also why Kirtland is one of the branches where every
employee is cross-trained to perform all responsibilities in the branch.
“We’re versatile and tailor our interactions to meet our members’ needs,”
Branch Manager Nathaniel Armendariz said.
Continued on page 2
Continued on page 2
Routing Number: 307083911 • P.O. Box 23040, Albuquerque, NM 87192 • (800) 947-5328 • (505) 293-0500 • [email protected] • www.slfcu.org • Editor: Amanda Blackmon
Fundamental Budgeting Strategies
for Kids and Teens
When teaching finances to children, it can be difficult to point
out the distinction between needs and wants, since many of
their needs are handled by their parents.
Meet Your Branch: Kirtland
Ages 5-10: Start teaching budgeting fundamentals to young
children by explaining your own behavior and decisions. At the
grocery store, you can talk about the different prices on similar
items and how you decide which one to buy. Discuss which
purchases are necessities and which are items you just wanted.
Continued from page 1
Ages 11-15: Older kids can start to make their own decisions
about purchases. Although typical 13-year-olds don’t need to buy
food, they can make a decision about using their allowance to
purchase a snack at school or wait for dinner, saving their money
for something else.
Convenience and member service are things on which SLFCU
prides itself. Teller/Financial Service Officer Samawi Miller
said, “SLFCU offers the same access and high level of service to
our members residing in any state by phone, shared branching,
or mobile deposit.”
Talk about the value of different items to different people. A
friend might save up for high quality sports equipment, while
another downloads music from a favorite artist. Neither choice
is right or wrong – it all depends on the budget and value that
each person places on the item. What items are important to
you and how do they compare to what’s important to your child?
How might those decisions change over time?
Ages 16 and older: As teens and young adults start to earn the
money they use to pay for expenses, they will begin to consider
needs differently. Food, housing, clothing, and utilities are
all necessities that need to be included in a budget, as well as
savings and investments. Although savings and investments
may not be basic needs, they are a necessity for a stable future.
These tailored and frequent interactions have allowed Kirtland
employees to really understand their members. Here are some
of the things they enjoy about SLFCU.
Service and Access
Youth Development
SLFCU places a high priority on teaching good money habits to
children. RaeAnne described the effect on her child. “SLFCU
accounts have taught my teenage daughter how to manage her
money wisely and watch her money grow.”
Automate Your Saving
Teller/Senior Financial Service Representative Theresa
Hindsman encourages setting up distributions to your kids or
holiday accounts. Direct Deposit distributions can be set up and
managed in CU@home® Online.
For more information on how SLFCU can help you teach kids
and teens about money, visit www.slfcu.org/KidsTeensMoney.
The Kirtland branch is located on Kirtland Air Force Base
at Wyoming and I Street. If you have any questions or
would like to learn more about a branch in your area, call
(505) 293-0500 or (800) 947-5328. You can also locate a branch
at www.slfcu.org/Locator.
By Dagny Cosby
By Amanda Blackmon
Prepare Your Accounts for the Future
Continued from page 1
Here are some of the ways additional individuals may be
associated with a member’s SLFCU account(s):
• All joint owners on an account are owners of the funds in the
account, and the funds are payable to any owner on request
– for instance, in person or by debit card or transfer. This
ownership interest continues after the death of any other
joint owner(s). Generally, only the death or consent of a joint
owner can remove that joint owner from an account.
2
• An agent is an individual that a member has notified SLFCU
is authorized to act on that member’s behalf, while he is alive,
with respect to his SLFCU account(s). The appointed agent
must consent to serve in this capacity and provide SLFCU
any required information, as well as sign applicable signature
card(s). The member can revoke this agent’s authority by
providing SLFCU notice of such revocation.
• Payee(s) on death (POD) are individuals who will own the
funds held in an account upon the death of the last account
owner. Until that time, a payee on death has no right to
the funds. Account owners can change the individual(s)
designated as payee(s) on death.
Some members may find it desirable to have the same individual
associated with an account in multiple ways, for instance as an
agent and a payee on death, and some members may not wish to
utilize any of these associations. Circumstances can change, so
consider confirming that any individuals you have authorized to
act for you continue to be willing and able to perform those duties.
• An attorney-in-fact (or agent) named under a valid power of
attorney (a legal document) is an individual that someone has
authorized to act on his behalf, while he is alive, at the times and
in the ways specified in the power of attorney. These grants of
authority can range from broad to narrow and are revocable.
While SLFCU cannot provide legal or tax advice, we can help
you review your SLFCU accounts and better understand
the powers and limits of different account associations. Call
(505) 293-0500 or (800) 947-5328, or visit any branch to speak
with a financial service representative.
By Kasie McCoy
Automate Your Savings
Use direct deposit, direct
deposit distributions, and
online transfers to manage the
money you’ll save and spend.
Direct Deposits
You can locate your 10-digit
ACH
account
number
for direct deposits or
withdrawals on your checks
or through CU@home. Log
in and navigate to the Self
Service tab, then Direct Deposit Instructions or Automated
Withdrawal Instructions. You also have the ability to choose
how much of each direct deposit is distributed into each of
your accounts on the Self Service page; click Direct Deposit
Distributions in the Account Service section. Change or update
your distributions at any time to help support your savings goals.
Transfers
SLFCU helps distribute your money however you need. Transfer
between your own SLFCU accounts, to another SLFCU member,
or even another financial institution. To get started, click the
Transfers tab in CU@home Online. To set up transfers to or from
another financial institution, click Move Money. For transfers
between SLFCU accounts, select Schedule New Transfer. Select
the account from which you wish the money to be withdrawn and
then select the recipient account in the ‘To’ drop down.
Account Nicknames
Need a special account for a specific savings goal? Open a
dedicated account so you have a clear picture of how close you
are to meeting that goal. To set up an additional savings account,
log in to CU@home, click the Self Service tab, and then select
Open a New Account. Choose the type of account and opening
deposit amount. You can even give it a nickname specific to its
purpose by slecting Manage Account Display Preferences.
By Kasie McCoy
SLFCU Alleviates Home Buying Concerns
Continued from page 1
“Penny put the loan and mortgage language into terms that a
layperson could understand. If I had questions even after she
had explained a document once or twice, she was really patient.”
“First-time homebuyers are going to have a lot of questions,”
says Penny. “They should never feel like they’re asking too
many. They need to feel good about what they’re doing.”
And Britt proved he was not a stereotypical real estate agent.
“I was concerned that my agent would pressure me into buying
a home before I was ready,” Stacey said, “and Britt was the
complete opposite. He represented my interests, and I never
felt like I was pressured. I made decisions with Penny and
Britt’s guidance, and at the end of the day, I felt completely
comfortable with my decisions.”
Sticking with SLFCU
Home Buying Resources
“Knowledge is power,” says HomeAdvantage agent Britt Harville
of Harville Realty. “I see myself as an educator about the whole
home buying process.”
If you’re starting to think about buying a new home, take
advantage of these resources offered through SLFCU.
HomeAdvantage: A free service that includes online
property listings, a rebate on the real estate agent’s
commission, and referrals to trusted agents. Learn more at
www.slfcu.org/HomeAdvantage.
Mortgage FAQs: Answers to common home loan questions,
definitions of mortgage terms, and advice from SLFCU loan
advisors. Visit www.slfcu.org/HomeLoanFAQ.
Stacey offers this advice for other first-time homebuyers:
Stacey opened her first SLFCU account when she was eight
years old.
“I really like the fact that I have my loan through the Credit
Union so I can talk to somebody face to face,” she says. “It feels
good to know that SLFCU staff and partners helped make this
such a positive experience for me.”
• Ask lots of questions.
• Take your time.
• Don’t be afraid to change your mind. “As you get more
information, you might change your mind about the type
of loan or property you thought you wanted,” she says.
By Becky Richards
Savings Yields
Share Savings & Checking
Share Savings $100 - $9,999 IRA Share Savings $5 - $9,999 Savings & IRA Share Savings
$10,000 to $49,999 Savings & IRA Share Savings
$50,000 or more
Money Manager $500 or more
Money Market Savings
$2,500 - $9,999
$10,000 - $24,999
$25,000 - $49,999
$50,000 and over Term Share Certificates*
6 to 11 months $1,000 minimum balance
$1,000 - $49,999
$50,000 - $99,999
$100,000 - $199,000
$200,000 and over
Loan Rates
D.R.
0.20
0.20
APY
0.20
0.20
0.30
0.30
0.40
0.15
0.40
0.15
0.35
0.40
0.45
0.50
0.35
0.40
0.45
0.50
D.R.APY
0.40
0.50
0.60
0.70
0.40
0.50
0.60
0.70
Term Share Certificates*
18 month bump rate
$2,000 minimum balance
$2,000 - $49,999
$50,000 - $99,999
$100,000 - $199,000
$200,000 and over
D.R.APY
0.60
0.70
0.80
0.90
0.60
0.70
0.80
0.90
D.R.APY
36 months
$1,000 minimum balance
$1,000 - $49,999
$50,000 - $99,999
$100,000 - $199,000
$200,000 and over
1.35
1.45
1.55
1.65
48 month variable rate
$1,000 minimum balance
$1,000 - $49,999
$50,000 - $99,999
$100,000 - $199,000
$200,000 and over
0.61
0.71
0.81
0.91
1.36
1.46
1.56
1.66
D.R.APY
0.61
0.71
0.81
0.91
New Vehicles
Term
To 36 months
61-84 months
APR**
As low as 2.45%
As low as 2.45%
Used Vehicles
Term
To 36 months
61-72 months
APR**
As low as 2.45%
As low as 2.45%
Vehicles from the current or two previous model years and mileage
= <25,000 qualify for new car rates.
Owner Occupied
SmartValuetm 5/5 Adjustable Rate 1st Mortgages
Term Rate
APR Current Calc. of
(1st 5 Years)
30 yr
3.59%
3.98%
Rate Remain. Term†
4.000%
Owner Occupied
Jumbo SmartValuetm 5/5 Adjustable Rate 1st Mortgages
Term Rate
APR Current Calc. of
(1st 5 Years)
30 yr
3.59%
3.96%
Rate Remain. Term†
4.000%
Rate, D.R. (dividend rate), APR (annual percentage rate), and APY (annual percentage yield) as of 9/28/2015. Subject to change without further notice.
*Penalty may be imposed for early withdrawal. ** Non-variable rate loans, 100% financing available including tax, title, license and extended warranties. Available rate is based on credit history and term and
may be higher than rates listed here. All loans subject to credit approval. Rates subject to change without notice. † Rate and payments adjust only once every 5 years. The current calculation of the rate for
the remaining term is based on the current index plus margin, subject to the floor rate of 4.00%, and rounded to the nearest eighth of a percentage point; however, the index for the future is unknown. The
current index plus margin, rounded to the nearest eighth of a percentage point, is 3.625%. Maximum loan-to-value is 80%. Offer applies to owner-occupied properties in NM and CA, except that all terms may
not apply to modifications and refinancings of existing SLFCU first adjustable rate home loans on owner-occupied properties. Construction loans and mobile home loans are excluded from this offer.
For concerns regarding policies/procedures, conflicts of interest, or fraud:
SLFCU Supervisory Committee, PO Box 13045, Albuquerque, NM 87191
Federally insured by NCUA
EQUAL HOUSING
LE NDE R
3
Please Provide Your Email Address
SLFCU uses email to deliver information quickly and cost
effectively. And you can rest assured that we will never sell your
email address.
• By updating it with a representative the next time you are
in a branch
There are several ways to provide your email to SLFCU:
Providing an email address saves your member-owned credit
union money that we can return to you in the form of better
products and services.
• Through CU@home Online in the Self Service tab and then
clicking “Change Email Address” under Personal Information
• By phone at (505) 293-0500 or (800) 947-5328
Dollars & Sense
Meet Your Branch: Kirtland
Preparing Your Accounts for the Future
Budgeting Strategies for Kids & Teens
PO Box 23040, Albuquerque, NM 87192
On the Calendar
Columbus Day
PRSRT STD
US POSTAGE PAID
ALBUQUERQUE, NM
PERMIT NO 417
Veterans Day
Wednesday, November 11 • All Branches Closed
Monday, October 12 • All Branches Closed
Brought to you by the MEMBERS Financial Services Program* located at SLFCU.
Register at www.slfcu.org/Events or by calling (505) 293-0500 or (800) 947-5328.
Credit Union Fairground Auto Sale
Ask an Advisor
Thursday, Oct. 15 - Saturday, Oct. 17• 10:00 a.m. - 8:00 p.m.
Sunday, Oct. 18 • 10:00 a.m. - 6:00 p.m. • NM State Fairgrounds
Participating dealers include Rich Ford, Melloy Nissan, Melloy Dodge, and
Quality GMC. Parking is free at Gate 3.
Shredding Event
Saturday, Oct. 17 • 9:00 a.m. - Noon • Livermore Downtown Branch
Saturday, Oct. 17 • 10:00 a.m. - Noon • Juan Tabo Branch
Please bring a donation of non-perishable food for local food banks. There
is a limit of two boxes of paper per member, no folders or media. Arrive by
11:30 a.m. to be assured of service.
Credit Union Used Vehicle Sale
Friday, Oct. 23 & Saturday, Oct. 24 • 9:00 a.m. - 6:00 p.m. • CU Auto Sales
5901 San Mateo Blvd. NE, Albuquerque, NM • (505) 345-6601
CU Auto Sales will have an inventory of select late model used cars
(subject to availability).
Juan Tabo & Rio Rancho branches
Register online for a no-cost, no obligation appointment with an investment
advisor at www.slfcu.org/Advisor.
Rising Rates - What You Need to Know
Tuesday, Oct. 20 • Noon-1:00 p.m. • Tech Park Branch
Tuesday, Oct. 20 • 5:30-6:30 p.m. • Juan Tabo Branch
How should investments change in a rising interest rate environment?
Investing 101
Thursday, Nov. 12 • Noon-1:00 p.m. • Tech Park Branch
Thursday, Nov. 12 • 5:30-6:30 p.m. • Juan Tabo Branch
Are you ready to learn more about investing but aren’t sure where to begin?
*Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered
broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to
members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any
financial institution. FR-1215903.1-0615-0717