Quarterly DiviDenD - TMH Federal Credit Union

The
Quarterly Dividend
The newsletter of tmh federal credit union
Improving the financial life of each member is our priority and our pleasure.
SHARE DRAFT IMAGES NOW
AVAILABLE ON CD-ROM!
Get a CD-ROM of all your share draft images
for 2009.
Volume 15
Issue 1
WINTER 2010
Simplify your share draft research and archiving with
our CD-ROM Share Draft Image Retrieval Service.
The CD you receive will hold all of your share draft
images that were paid in 2009. Also located on the
CD is viewing software, which will give you powerful
viewing and image management capabilities.
Receiving digital check images from the CD-ROM Share Draft Image Retrieval
Service will provide the following benefits:
• Reduces Clutter: Easy storage of images, reduces paper files necessary for
proof of payment, income tax purposes, etc.
• Faster Research and Results: Access any image any time. No waiting for
photocopies or faxes. No more searching for duplicate copies of checks.
• No Special Software Needed: The software* needed to view images is
located on the same CD as the images. (*Windows only, not available for
Macintosh users.)
• Exceptional Image Quality: The clarity of the share draft images makes them
easy to read and manipulate.
Simplify your life by signing up for TMH Federal Credit Union’s CD-ROM Share
Draft Image Retrieval Service at a low cost of $25! Please contact our office at
850-402-5301 to order your CD.
ATTENTION
FACEBOOK USERS
If you enjoy communicating with friends
and family through Facebook we have made it simple to access your online home
banking account from the secured “MyMoney” application through your Facebook
account. Take advantage of using this product to view account information,
account history and transfer funds between your credit union accounts. For more
information on this easy access and free service contact Lyndell Maxwell at
850-402-5301 ext. 101.
DID YOU KNOW?
Our website provides
numerous links to information
on protecting yourself from
fraud and identity theft as well
as how to enroll for online
protection when making credit
card purchases. Simply select
“Protect Yourself” from the
menu on our homepage at
www.tmhfcu.org.
Inside
The ‘Good’ FICO Score
Jumped From 720 to 760
2
Gift Basket Winners
2
Step Up Your Savings During
America Saves Week
2
Loan Rates
3
Healthcare Partnership
Hold Down Costs When
Purchasing a Vehicle
3
3
Celebrate Your Birthday
with Us!
4
Important Notices
4
Holiday Closings
4
Our Newest Colleague
4
12456-News-1209
PAGE 2
THE Quarterly Dividend
The ‘Good’ FICO Score
Jumped From 720 to 760
Before the credit crisis and subprime
meltdown hit, you probably could get the
best interest rates on a mortgage or loan
with a credit score of 720 or more. But
times have changed. The “new reality” of
today’s economy says a 760 credit score is
the new 720.
Your credit score is one of the most
important numbers in your financial life.
A credit score is a three-digit number
that shows credit card companies,
auto lenders, mortgage lenders, and even
some landlords and prospective employers a picture of your
creditworthiness. The higher the credit score the better.
Now there’s a new “high,” and for some consumers, it may be tough to make
the grade.
A FICO credit score--used by many lenders--ranges from 300 to 850. If you
have a favorable debt-to-income ratio and a score between 650 and 850, it’s
likely you’ll qualify for a home loan with no problems. But the best rates may
be reserved for those near the top tier of that range.
To improve your credit score, use common sense and start with three simple
changes:
• Pay on time. About one-third of your score is based on whether you
make on-time payments to creditors. Late payments will come back
to haunt you and can cost you tens of thousands of dollars in higher
interest payments over the life of a mortgage.
• Pay down balances. Know your total line of credit, which is the top limit
or ceiling amount you can charge without paying over-the-limit charges.
Try not to charge more than 25% of that total line of credit. By keeping
your utilization rate below 25%, you’ll ensure that lenders likely will see
you as a good credit risk.
• Don’t cut up old cards. About 15% of your credit score is based on
length of your credit history. Cancelling those cards cuts short your
history of responsible credit usage, and it also increases your utilization
rate when your total credit line drops.
Order your credit score from myfico.com or from annualcreditreport.com.
© 2009 Credit Union National Association Inc.
Gift Basket Winners!
Congratulations to our International Credit Union Day gift basket
winners! Kareem Lawrence and Gary May were each
the lucky recipients of a themed gift basket. The
“Game Day” basket was overflowing with goodies
for the sports enthusiast. The “TMHFCU Café”
basket was filled with items to soothe any palate. Thanks to all for participating in our celebration!
Step Up
Your Savings
During America
Saves Week
Current economic events
are making it harder to save,
even for high-wage earners,
self-employed professionals,
and business owners just one
paycheck away from disaster.
Those who struggled to save
before are finding it even
harder now.
Join tens of thousands of other
Americans during America
Saves Week--February 21
through February 28, 2010-and step up your savings.
America Saves is a nationwide
campaign focusing on the way
Americans save money. The
program was created in 2001
by the Consumer Federation
of America, Washington, D.C.,
in response to the nation’s
negative personal savings rate.
America Saves Week
encourages individuals to
evaluate their savings progress
and take action to save more.
No matter your financial
situation or how much you
earn, you can save. Even the
smallest amount tucked away
regularly will accumulate into
a nice savings cushion.
Start now. Make the dream
of saving a reality. Visit
americasavesweek.org to find
out how to join the campaign.
PAGE 3
THE Quarterly Dividend
Hold Down Costs When Purchasing
a Vehicle
Whether you’re buying a new or used car, careful research and
planning will help you get the right vehicle without the one
option nobody wants: onerous monthly payments.
HEALTHCARE
PARTNERSHIP
Here are some ways to save money:
TMH Federal Credit Union
United Member Business Services, LLC
TMHFCU has been providing quality personal
service to those individuals serving in the
healthcare industry for over 47 years. We take
this privilege very seriously and are pleased
to widen our scope of lending services to
include business loans offered through United
Member Business Services, LLC (UMBS).
The main lending products offered to the
medical community are medical owner
occupied real estate properties and term
loans for the purchase of medical equipment
software, furniture and fixtures. Long term
fixed rate financing with up to 30 year
amortization are available for the primary
location of the business operation. Term loans
are available on qualified purchases with up
to 7 year amortizations.
Contact our Business Lending Representative,
Kevin McAlpine, Executive Vice President,
UMBS at 850-942-9186 ext. 4102 or 850694-1811 if you are interested in these
options of meeting the financial needs of
your business.
• Check on reliability--Nothing can torpedo a budget like
unexpected repair costs. The annual Consumer Reports survey
of mechanical problems with different models, available in the
magazine’s April issue each year, cites both overall ratings and
specific problems. If you’re a paid subscriber to the magazine or
online service, go to www.consumerreports.org.
• Look at continuing costs--Although insurance and gasoline
costs are continuous, new-car depreciation--the value it
loses each year--is a major factor. Edmunds.com summarizes
these variables in a feature called True Cost to Own (click the
Ownership tab on the home page, then True Cost to Own).
A vehicle that costs less to buy now than a competitor may in
fact cost more to own over a five-year period.
• Negotiate hard--Reduce your purchase price by looking for the
dealer cost or “invoice price” on sites like Edmunds.com and
Kelley Blue Book (kbb.com). Then aim for a selling price before
any rebate of no more than 2% over the invoice price. Better
yet, talk to us at TMH Federal
Credit Union about
pre-approving your
auto loan before
you even start
to shop for
a car.
LOAN RATES
Loan Type
Terms
Annual Percentage Rates*
PersonalUp to 4 Years
11.45% - 18.00%
______________________________________________________________________________________________________
Home Owners LOCUp to 4 Years (a mortgage is recorded)
11.45% - 16.45%
______________________________________________________________________________________________________
Share/CD SecuredUp to 10 Years 3.00% above rate earned
______________________________________________________________________________________________________
Autos/BoatsUp to 60 Months
5.45% - 9.45%
______________________________________________________________________________________________________
Autos/BoatsUp to 72 Months for loans $20,000 or more
6.25% - 10.25%
______________________________________________________________________________________________________
Autos/BoatsUp to 84 Months for loans $30,000 or more
6.85% - 10.85%
______________________________________________________________________________________________________
CampersUp to 60 Months
10.45% - 14.45%
______________________________________________________________________________________________________
New RVsUp to 10 Years - 90% of purchase price
6.45% - 10.45%
______________________________________________________________________________________________________
Used RVsUp to 10 Years - 90% of purchase price
6.85% - 10.85%
______________________________________________________________________________________________________
New Sport VehiclesUp to 48 Months - 90% of sale price
7.49% - 11.49%
______________________________________________________________________________________________________
2nd MortgageUp to 7 Years
6.95% - 13.95%
______________________________________________________________________________________________________
2nd MortgageUp to 15 Years
7.25% - 14.85%
______________________________________________________________________________________________________
Refinance Mortgage
Up to 15 Years
Call for rate
______________________________________________________________________________________________________
*Rates may vary based on creditworthiness.
*Rates effective as of 1/01/2010 and are subject to change.
PAGE 4
THE Quarterly Dividend
Locations/ Hours
HOLIDAY Closings
Main Office
345 S. Magnolia Drive, Suite F-1
Tallahassee, FL 32301
The Credit Union will close on the following day(s), with The 24
Hour Money Centers, PEARL and the Virtual Branch remaining open
to serve members:
Lobby:
Monday - Friday - 9:00am - 5:00pm
New Year’s Day – Friday, January 1, 2010
Martin Luther King, Jr. Day – Monday, January 18, 2010
Presidents’ Day – Monday, February 15, 2010
Drive Thru:
Monday - Thurs. - 9:00am - 5:00pm
Friday - 9:00am - 6:00pm
TMH Branch Office
1300 Miccosukee Rd.
Tallahassee, Florida 32308
Monday - Friday - 8:30am - 4:00pm
TMH Paydays 7:30am - 4:30pm
Telephone Numbers
Main Office (850) 402-5301
Pearl 1-800-259-0762
Fax (850) 402-5334
Web Address – www.tmhfcu.org
The 24 Hour Money Centers (ATM’s)
Located at both offices
Nationwide Shared CU
Service Centers
check the ATM/Shared location link
@ www.tmhfcu.org for locations and
hours of a service center near you
The board and staff of YOUR Healthcare Credit Union hope you and
your families have safe and enjoyable holidays. We look forward to
having the pleasure of serving your financial needs when we reopen.
We will reopen our Main Office the next business day at 9:00am
and our TMH Branch the next business day at 8:30am for regular
business hours.
DATES TO REMEMBER
Lincoln’s Birthday – Fri., February 12, 2010
Valentine’s Day – Sun., February 14, 2010
Ash Wednesday – Wed., February 17, 2010
Washington’s Birthday – Mon., February 22, 2010
St. Patrick’s Day – Wed., March 17, 2010
Technology Working for You...
Sign-up ON-LINE for
VIRTUAL BRANCH and E-STATEMENTS
Your 24 hour home banking solution.
Visit us as www.tmhfcu.org for printable forms, current
rates, and specials 24 hours a day, 7 days a week, and
365 days a year.
P.E.A.R.L. is also available around the clock at
1-800-259-0762. Stay up to date and informed on the
go with P.E.A.R.L and
www.tmhfcu.org.
Our
Newest
Colleague
Please join us in welcoming
our newest colleague, Liz
Brunson. Liz is a graduate of
Florida State University with a
degree in Marketing and will be
filling the position of Business
Development Specialist. We are
excited about the enthusiasm
and skills she brings with her.
She has played an active role
in numerous civic, professional
and trade activities within our
community. We look forward
to working with her to spread
the great news of membership
at the only credit union in
Tallahassee dedicated to serving
the financial needs of our
healthcare community.
IMPORTANT
ANNOUNCEMENTS
TMH Federal Credit Union’s
VISA Statements Have
New Look
TMHFCU’s VISA statements
will have a new look effective
February 2010. The new design
will be enhanced to include
regulatory changes reflected in
the Credit Card Act. Please take
a few minutes to review your
statements thoroughly.
TMH FEDERAL CREDIT
UNION LEADERSHIP
Board of Directors
Al Parker, Chairperson
Berinice Mercer-Lewis, Vice Chairperson
Glenn Strickland, Recording Officer
Joe Conklin, Financial Officer
Christie Sloan, Director at Large
Rob Moss, Director at Large
J. Lynne Peters, CPA, Director at Large
Supervisory Committee
J. Lynne Peters, CPA, Chairperson
Doug Nordby, CPA, Committee Member
Kelby Tardi, CPA, Committee Member
Jamie Sheffield, Internal Auditor
Senior Management
Marion J. McCaskey, President
Dorothy Daniels, Vice President
Grace H. Chambers, Chief Lending Officer
Lyndell W. Maxwell, Chief Operations Officer
Mindy Jordan, Chief Information Officer
Our Annual Membership
Questionnaire is Now on
Our Website
CELEBRATE YOUR
BIRTHDAY WITH US!
january • february
march
YOU are dedicated to improving our lives. We are
dedicated to improving YOURS. During your birthday
month, we would like to offer you a one percent
discount on posted consumer loan* rates AND a one
percent bonus rate on share certificates** purchased
during YOUR MONTH.
*Normal credit qualifications apply. Mortgage loans not included.
**See our Truth in Savings Disclosure for current, rates,
fees and terms.
Each year we request input to
enhance areas of importance
and obtain feedback on
member service from those
most important to us, our
members. Please assist us
by taking a few minutes of
your valuable time to tell us
how we are doing. We look
forward to your response
as we strive to continue
improving the financial lives
of each member.
Skip Payment Program
Please be advised on March
1, 2010 a fee of $25 will be in
effect for each skip payment
request processed.