Member
www.TeachersFCU.org
January 2018
92
44
8-0
118
Pay Down Debt or Borrow at a Great Low RateSPECIAL PROMOTIONS
All rates and terms are subject to change without notice. Rates & terms accurate as of 12/19/2017. * APR: Annual Percentage Rate. When the promotional period ends, any new or outstanding balance transfers and purchases will revert to the then Standard APR for the card type, which is currently: Platinum 9.96%, Classic 12.84%, No Frills 9.84%. All other terms and conditions are the same. ** We will accept balance transfers that are an aggregate of $1,000 as long as they are submitted in one transaction. (This does not apply to statement or letter checks).
For more information, visit TeachersFCU.org or call 698-7000, ext 6790.
1.99 %Balance Transfer
APR*No Balance Transfer Fee
For existing and new Platinum, Classic or No Frills credit card account holders.
• Through January 31, 2018 • Term: 12 billing cycles - the promotional rate will extend through 12 billing cycles from the date of the first transaction
• No minimum purchase amount
• Balance Transfers must be a minimum of $1,000**
• Balance Transfers can be submitted in the branch, via online banking and over the phone with Visa Customer Service at 855-462-5880.
• Not available on Student, Share Secured, or Business credit cards
• 5.00%* Annual Percentage Rate • Minimum loan: $250• Maximum loan: $3,000
ENERGY ASSISTANCE
Let Us Help you Keep your Home Warm Throughout the Home Heating Season with TFCU’s Energy Assistance Loans
• Repayment terms: Up to 12 months for $1,500 Up to 18 months for $3,000• Purpose – Oil, electric or natural gas bills
This loan is available through March 31, 2018. For more information, call (631) 698-7000, ext. 6790.*APR = Annual Percentage Rate. All rates and terms are subject to change without notice.
Don’t Miss this Great Opportunity!
Limited Time Offer!
Certificate Account Specials
Visit www.TeachersFCU.org for More Information!
SAVINGS
16-Month
1.65APY*%
30-Month
2.35APY*%
Minimum Opening Balance $1,000Savings federally insured to $250,000
*Annual Percentage Yield (APY) accurate as of 12/19/2017. All rates and terms are subject to change without notice. A penalty may be imposed on early withdrawals. Limited time offer.
2 Coming Soon – TFCU’s Personal Financial Manager Program. Watch for details.
Fast Approval & Low Rates!
All rates and terms are subject to change without notice. *APR: Annual Percentage Rate. Rates and terms are effective 12/19/17. Rate will be based on credit history. Rate shown is lowest rate available. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. Rates not available on Buy Rite Plus balloon loans or leases. Not eligible for Educated Choice, Auto Transfer. Pay just $17.40 for every $1,000 borrowed with a 60-month term at 1.70% APR for new auto loans. Pay just $14.86 for every $1,000 borrowed with a 72-month term at 2.24% APR for used auto loans.
• Finance up to 100% of the purchase price - including sales tax and warranty.
• Take advantage of our quick approval process.
• Lower your payment by refinancing your car loan from another lender with us.
New AutoNew rates as low as
1.70%APR*
Used Auto
for up to 72 monthsFull Financing Available
Maximum 4 Model Years Old (Inc. Current Year) Other Rates/Terms Available
New rates as low as
for up to 60 months
Get Pre-approved and Save!
APR*2.24%
AUTO
For more information on either of these products, please contact a representative in our Call Center at 631-698-7000, extension 6790.
President’s MessageI would like to extend to you and your family my best wishes for the New Year. 2017 was another year of continued growth for TFCU. Our total membership is now over 286,000 and our total assets are over $5 billion. This past fall we proudly achieved our 65th year of serving the Long Island community!
Upgrading our Processing SystemDuring the summer, we executed a major upgrade to our Online Banking and bill pay systems. I would like to thank our staff for their diligence in assisting members with password resets and providing our members assistance on how to navigate the new system. Members have since found our new online banking easier to use and are enjoying the enhanced ability it affords.
Branch ExpansionTo better serve our members, we have plans to open four new branches in the coming year. First will be our new state-of-the-art location in Kings Park, followed by East Meadow, Center Moriches and Stony Brook. In addition to our 25 current branch locations, members have access to their accounts at more than 5,000 credit unions across the United States, including over 60 on Long Island. Shared Service Centers are perfect alternatives to a TFCU branch should you be traveling, away at college or staying at a second home all around the country.
New Youth Savings Account2017 brought the introduction of our new Youth Savings account for children. If you’re looking for a safe place to deposit your children’s money, at an annual percentage rate of 3.00% for the first $1,000, bring their funds to TFCU. As an incentive to open an account for children ages 10 and under, each child will receive a copy of The Berenstain Bears Visit the Credit Union book. All any child needs is $1 to start a savings account with us.
We’re Here for Businesses, TooIf you are a small business owner and you’re looking for a financial institution to help support your business needs, look no further than TFCU. We finance commercial real estate purchases and refinances. If you want to purchase a shopping center, office building, medical condominium, or other type of commercial real estate, see TFCU to discuss a commercial mortgage with flexible terms.
Plus, we are partnered with Newtek Business Services, a leading provider of real-time, state-of-the-art content and business services. Newtek offers a complete menu of payment acceptance options with competitive pricing, as well as a variety of other tools that can help your business grow.
TFCU in the CommunityTeam TFCU, our Community Involvement Committee, gave back to the people of Long Island throughout the past year. By holding monthly Jeans Days, where employees donate $5 to a worthy cause and are allowed to wear their jeans to work, more than $28,000 was raised. These funds were made payable throughout the year to local organizations such as: Ronald McDonald House; Make-a-Wish; Brittany’s Baskets of Hope; Blessings in a Backpack; United Way of Long Island; Saint Jude’s Children’s Hospital; Long Island Coalition for the Homeless and Memorial Sloan Kettering Cancer Center. I applaud our employees who continually donate to these foundations, making our local communities better places to live.
TFCU and YouAt TFCU, our first priority is your personal or business banking needs. I invite you and your family to come to TFCU, whether for borrowing, investing or for one of our many time-saving services. We have products designed to suit your needs. No matter what your stage in life, whether it be a credit or debit card for going off to college, a loan for purchasing a car, a mortgage for a new home or an IRA to help you save for retirement, TFCU will be here to assist you every step of the way.
On behalf of TFCU’s Board of Directors, volunteers, management and staff, I thank you for your continued membership.
Robert G. AllenPresident/CEO
ROBERT G. ALLENPresident/CEO
3Coming Soon – TFCU’s Personal Financial Manager Program. Watch for details.
HOME
TFCU Offers Jumbo Mortgages up to $3,000,000 with 80% financing & up to $1,000,000 with 90% financing & PMI approval.
Achieve Your Life Goals One Great Rate at a Time
Rates as low as
30-Year Fixed Rate Mortgages
3.75%
No Points
RATE
APR*
3.125%
10/1 Adjustable Rate Jumbo Mortgages
Rates as low as
3.125%
3.67 %RATE
APR**No Points. Other Adjustable and Fixed Terms Available.
3.85%
All rates and terms are subject to change without notice. *APR: Annual Percentage Rate. Rates & terms accurate as of 12/19/17. Maximum loan amount is $453,100. Pay $4.63 per $1,000 borrowed for 30-year fixed rate mortgage at 3.85% APR. Taxes, insurance and other costs will result in a higher monthly payment. Primary residence only. This is not a commitment to lend. If your down payment is less than 20% of the home’s value, you will be subject to private mortgage insurance, or PMI. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. Rate shown is for purchase or refinance, up to 80% financing. Other rates and terms available for loan to values above 80%. **APR: Annual Percentage Rate. Rates & terms accurate as of 12/19/17. Jumbo mortgages available from $453,001 up to $3,000,000. Pay $4.28 per $1,000 borrowed for 10/1 Adjustable rate jumbo mortgage at 3.67% APR. Rates fixed for 10 years. Subsequent adjustments made annually. 2% annual cap; 5% lifetime cap. Margin 3.00%. Index: 1 year Constant Maturity Treasury (CMT).Taxes, insurance and other costs will result in a higher monthly payment. Primary residence only. This is not a commitment to lend. If your down payment is less than 20% of the home’s value, you will be subject to private mortgage insurance, or PMI. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. Rate shown is for purchase or refinance, up to 80% financing. Other rates and terms available for loan to values above 80%. ***APR: Annual Percentage Rate. Rates & terms accurate as of 12/19/17. Maximum loan amount is $453,100. Pay $6.97 per $1,000 borrowed for 15-year fixed rate mortgage at 3.31% APR. Taxes, insurance and other costs will result in a higher monthly payment. Primary residence only. This is not a commitment to lend. If your down payment is less than 20% of the home’s value, you will be subject to private mortgage insurance, or PMI. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. Rate shown is for purchase or refinance, up to 80% financing. Other rates and terms available for loan to values above 80%. Membership conditions may apply.
Rates as low as
15-Year Fixed Rate Mortgages
3.31%APR***
No Points
RATE
For more information on either of these products, please contact a representative in our Call Center at 631-698-7000, extension 6790.
*APR: Annual Percentage Rate. Rates and terms accurate as of 12/19/17. All rates and terms are subject to change without notice. Term: 180 Months. Daily Periodic Rate is 0.0075%. Rate applicable for terms up to 120 months. Higher terms are available. Ask for details. HELOC max $500,000 (up to 80% of home value, rate shown for 80% max. LTV). Lines up to $100,000 require $10,000 min. advance & must maintain a balance of $5,000 for 36 months to avoid repayment of closing costs. Lines $100,001 - $250,000: $60,000 advance & maintain a balance of $50,000 for 36 mos. to avoid repayment of closing costs. Lines $250,001 - $500,000: $150,000 advance & maintain a balance of $100,000 for 36 mos. to avoid repayment of closing costs. Variable rate equal to the Wall Street Journal Prime Rate (4.50% as of 12/14/2017) as published 30 days prior to interest rate adjustment date, applied at loan origination. After 12 month period, a 1% maximum rate adjustment is allowed per quarter. Rate will not exceed 18% over the life of the loan. Appraisal will be required. Primary residence – New York only. Ask for details. Membership conditions may apply. **APR: Annual Percentage Rate. All rates and terms are subject to change without notice. Rates/terms accurate as of 12/19/17. Rates will be based on credit history. Rate shown is the lowest available. Applicants not approved at these rates or terms may be offered credit at a higher rate or term. Lien must be in first position on the subject property. Appraisal will be required. Primary residence – New York only. Ask for details. Membership conditions may apply.
NO CLOSING COSTS!
2.74%
Interest-Only Home Equity Line of Credit
ADJUSTABLE RATE
APR*
NO CLOSING COSTS!3.50%
First Lien Position Mini-Home Equity Loan
FIXED RATE60-120 Month Term
APR**
Debit CardValet® Service Now AvailableWith CardValet® from TFCU, you can control your Debit Card through your mobile device. With the CardValet app, you can turn your card on and off when you want, and be notified if someone tried to use your card without your permission.
CardValet Fraud Protection Features Include:
• Turn your card “off” and no withdrawals or purchases will be approved. Turn it back on when you want to make a purchase
• Get real-time alerts to keep you informed when your card is used or declined
Control Spending
• Monitor your finances anytime, anywhere by using the CardValet app to check your account balances or review recent card transactions
• Set spending limits for general use or specify thresholds by merchant types, such as gas, groceries or retail stores
You can download the CardValet app in the Apple® App Store or GooglePlay® Store.
MEMBER BENEFITSTwo Home Equity Products, One Will Surely Suit your Needs!
Beginning in January, TFCU Debit Cards with an expiration date of January 2018, 2019 and 2020 will be re-issued with an EMV chip. This process will continue each month throughout 2018. Going forward, debit cards issued in a branch will be EMV cards.
EMV chip technology is becoming the global standard for card payments. The biggest benefit of EMV is the reduction in card fraud resulting from counterfeit, lost and stolen cards.
MEMBER NOTICE
TurboTax is for anyone who wants a simple, effective way to do their taxes while improving their ability to uncover the best deductions for their needs and a lower risk of an audit.
The TurboTax questions are what easily and seamlessly guide you through the experience of preparing your return. You answer very simple, straightforward questions, and then TurboTax online tools will do the math for you.
One of the distinctive features of this tax filing online solution that people really enjoy is that calculations are 100% accurate, which is guaranteed. It’s also a program that’s always up-to-date with the latest tax laws as well as health care regulations.
Access to “My TurboTax” is available in our Online Banking program, under the “Additional Services” heading. There is no cost to file forms 1040EZ and 1040A. Other options for Federal filing start at $39.99.
TurboTax Makes Filing Your Taxes Quick and Easy
TAX SEASON
ROBERT G. ALLENPresident/CEO
† Facility employees only
Branch Locations
Convenient Loan Call Center Hours 24/7 Loan Information & Applications
631-698-7000, Ext. 6790.
TFCU’s Routing Number: 221475786
Check www.TeachersFCU.org for all of our GREAT RATES!
twitter.com/TFCU
Board Of DirectorsTimothy M. Southerton, ChairmanGeorge L. Dornhoefer, Vice ChairmanJuan C. Nuñez, TreasurerApril S. Neitlich, SecretaryRaymond P. GrossmanRonald A. MincioRobert J. NeyMario P. ShortinoShalei V.K. SimmsF. Jane Harris, Director EmeritaFrank D. Spencer, Director Emeritus
Executive ManagementRobert G. Allen, President/CEO Thomas A. Fallon, EVP/COO
Supervisory CommitteeJames F. Nohe, ChairmanMark O. Israel, SecretaryAlan R. Fertmann Eric J. Iberger April S. Neitlich
Amityville - 355 Broadway (Rte. 110)Bay Shore - 3rd Ave. and Sunrise Hwy. Brookhaven National Lab†
400 Brookhaven AvenueCentral Islip - 118 Wheeler RoadCommack - 10 Vanderbilt Pkwy.East Northport - 556 Larkfield RoadFarmingville - 2410 N. Ocean Ave. Hauppauge - 102 Motor Pkwy.
Holbrook - 5439 Sunrise Hwy.Huntington - 211 East Main StreetKings Park - COMING SOON!Manorville - 460 County Road 111 Merrick - 1638 Merrick Rd. Nesconset - 127 Smithtown Blvd. North Babylon - 1134 Deer Park Ave.North Massapequa - 4250 Jerusalem Ave. Oakdale - 951 Montauk Hwy.
Patchogue - 31 W. Main Street, Suite 23 Port Jefferson Station - 450 Jefferson Plaza (Rte. 112)Riverhead - 176 Old Country Rd. (Rte. 58)Rocky Point - 561 Route 25A Selden - 301 Independence Plaza, (Rte. 25)Shirley - 437 William Floyd Parkway. Smithtown - 1 West Main StreetSouth Setauket - 260-A Pond PathWading River - 6257 Route 25A
631-698-7000 • 1-800-341-4333**Outside the Long Island, Westchester and New York Metro areas.
TFCU HEADQUARTERS Located at: 102 Motor Pkwy, Hauppauge, NY
Mail: P.O. Box 9005, Smithtown, NY 11787www.TeachersFCU.org
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. Terms and conditions apply. Please speak to a representative for details.
facebook.com/TeachersFCU
Holiday Closing
All branches of TFCU will be closed on Monday,
January 15, in observance of Martin Luther King, Jr. Day.
FINANCIAL SERVICES
Financial Services Representatives at other branches:
Stephen Abbott, CLU, ChFCFinancial Advisor2410 North Ocean Avenue, Farmingville, NY 11738(631) 698-7000, ext. 3692
Frank PecorellaFinancial Advisor3rd Avenue & Sunrise Hwy., Bay Shore, NY 11706631-698-7000, ext. 6925
Chris Hibbard, ChFC, CRPC, CFSSenior Financial Advisor , Trust Liaison Officer5439 Sunrise Hwy., Holbrook, NY 11741(631) 698-7000 ext. 6020
Sergio MessinaFinancial Advisor102 Motor Parkway, Hauppauge, NY 11788631-698-7000, ext. 2453
Manorville – Ron RebaldoNesconset – Micki Cahill
TFCU’s New Debit Card Rewards Program Our new Debit Card Rewards Program lets you earn rewards by using your TFCU debit card to purchase merchandise and services. The program is available to all debit Cardholders. Through this program, you’ll receive targeted offers to receive rewards on purchases based on how you shop. As a Cardholder, there is no limit to the rewards you can earn. So, the more you use your TFCU debit card, the more offers you can receive and the more rewards you can earn!
Where do I go to see offers?You can find these offers on the home page of TFCU’s online banking system, alongside your account listing.
How do I redeem offers?Each offer is based on how you currently shop, so the offers that you receive are relevant! To redeem the offer, simply click on it to see the details; this automatically loads the offer onto your debit card. Then shop at the specified retailer and pay using your debit card to earn the reward.
When do I receive the rewards for the offers I redeem?Your rewards will typically be deposited to your account the month after you redeem the offer. Since we do not share your personal information with retailers, we cannot credit your account immediately at the time of purchase.
For more details, please visit www.TeachersFCU.org.
Visit www.TeachersFCU.org for More Information!
REWARDS PROGRAM
