Choice Matters
A Newsletter For Members Of
Choice One Credit Union
Second Edition 2010
With the appraised equity in your home and one of our
Home Equity options, you can reach just about any financial
goal. You hold the key to unlock all the possibilities.
You've been working to pay off that mortgage - let that
hard work pay you back!
Do you have home remodeling daydreams or a wish-list for
someday? With our Home Equity Loan options, someday
can be today! Redecorate on your schedule, and increase
the value of your home at the same time! Our Fixed Rate
Home Equity Loan is a one-time loan with no surprises;
your interest rate remains fixed over the term of the loan.
The warm months are a great time for home improvements.
Make your daydreams a reality.
If you're just starting out and haven't gained equity in your
home, check out our Personal Loan. With a rate this low,
you can even use it to tackle debt, take a vacation or for
education expenses.
Stop by, visit www.choiceone.org or call the credit union
at (570) 823-7676, ext. 233 for complete details.
*APR=Annual Percentage Rate. Rates are subject to change without notice. Other rates and terms
available. Contact the credit union for complete details. Enrolling in all of our convenient services,
including Direct Deposit/Payroll Deduction, Virtual Branch, VISA Check Card, E-Statements and Bill
Payer, and enroll your new or refinanced loan in Auto Pay, you can reduce your rate by a total of
.75%.
TOP
 An unfortunate byproduct of a challenging
economy is that many people prey on
the vulnerable. While it is encouraging
to see that the economy is on the mend,
it is important to stay vigilant concerning
identity theft. Identity theft scammers often
use the ease of the internet and telephone
to dupe consumers into providing their
personal data. Especially as scammers
become increasingly versed in possibilities,
it is important to stay informed.
One of the most recent forms of identity theft is "phishing," which is
when thieves - posing as a financial institution, credit card company,
online retailer, Internet Service Provider, or prospective employer
- call or email consumers to inform them of a phony "problem." Often
the scammer will email or call from an organization with whom
you do business, asking you to confirm your personal information.
To encourage consumers to act immediately, the email or caller usually
threatens that the account could be closed or canceled unless
the information is provided. If provided, these scammers could take
your personal information and withdraw funds, make bogus charges
or even open accounts in your name.
Protect yourself: When a person calls or emails you at home or at
work, and you do not know this person, do not give out any of your
personal information. If they tell you they are from an organization,
institution or provider you utilize, call them back at the number
that you know is the true number. Provide only information that you
believe is absolutely necessary, and never feel pressured to take
immediate action.
If you have any questions, contact Choice One. As your credit
union, we are committed to your security and can help you with any
concerns you might have.
Sincerely Yours,
Thomas Smith
President/CEO
TOP
If you've ever wished you could have a month break from your
bills, the Skip-A-Loan program is for you! This summer instead of
paying your Choice One loan, pay yourself. Spend the money on
all the things that make summer great - like vacations and weekend
getaways, patios and landscaping and even upgrading your
summer wardrobe.
When you use this service, your credit rating will not be affected
by skipping a payment but rather your payment due date and
maturity dates will advance one month. The fee for skipping a July
or August loan payment of $25 can even be deducted from your
Share Savings Account.
Take advantage of this great program, and enjoy all the
summer season has to offer, contact our Loan Department at
(570) 823-7676, ext. 233.
TOP
Make your summer drives even better by hitting the road in that car, truck or SUV that
you've had your eye on. Whatever solution you choose, Choice One, you can ensure
you drive off with the best deal possible. Plus, with pre-approval from the credit union,
you'll arrive at the lot with leverage! With Choice One, it's always a smart time to
purchase a new or used vehicle or to refinance one from another lender.
We also offer an innovative vehicle financing plan that offers lower monthly payments,
allows you to purchase a new vehicle every two or three years, and helps you step up
to that upgraded vehicle you never thought you could afford. With this MAPSTM (Member Auto Payment Saver) program, our computers will determine, based on
industry-approved guidelines, what the car will be worth the year your loan is scheduled
to end (called the "residual value"). We subtract the residual value from your loan and
base your monthly payments on the remaining amount. Your monthly payments could be
lowered by nearly 50%!
Earn up to .75% off your loan easily: Reduce your loan's interest rate by 25% off by
enrolling in our Auto Pay service, and earn up to .50% by enrolling in our time-saving
24/7 services. To do so, earn .10% off your loan when enrolling in the following services:
Direct Deposit/Payroll Deduction, Virtual Branch, VISA Check Card, E-Statements and
Bill Payer.
To get started or to learn more, stop by the credit union, call (570) 823-7676, ext.
233, or visit www.choiceone.org to sign up today!
MAPSTM is a registered trade name of Membership Marketing Support Services. $795 processing fee applies.
*APR=Annual Percentage Rate. Rate includes .75% discount. Rates subject to change without prior notice. Contact the credit union
for complete details.
TOP
Memorial Day
Monday, May 31
Independence Day
Monday, July 5
Labor Day
Monday, September 6
TOP
Our lease-like program, MAPS, can save you
more on your purchase every month.
2010 Ford Fusion
SEL, 4-door Sedan
48-Month Term of $24,800
at 3.34% APR*
With MAPS Financing:
$376.59 Per Month
(Based on residual of $10,314.00,
12,000 annual miles)
With Conventional Financing:
$570.38 Per Month
Total Monthly Savings
Using MAPS program:
$193.79 Per Month
TOP
Apply for or use your Choice One VISA® credit card
May 1 through September 1, and you will receive a
rate as low as 6.99% APR* on all purchases,
cash advances and balance transfers.
Rates are in effect until balances are paid
off, and there are NO BALANCE
TRANSFER FEES - so apply today!
TOP
By now, you've likely heard of the legislation Congress passed to regulate credit card practices. In fact, maybe you've experienced some of
the negative changes other financial institutions have made to their credit card terms and conditions before changes went into effect. Many
banks and other credit card issuers have implemented higher penalties, interest rate hikes, canceled cards, cards with lower credit limits
and reduced rewards programs.
With all of the changes, you could be paying too much on your cards at other financial institutions. What are the interest rates on your other
cards? What are the fees? Review your accounts and cash in on the savings by transferring your current cards to Choice One. As your
community credit union, you can depend on Choice One to continue to offer safe and secure low-interest credit cards that exceed the new
requirements.
To open a low-interest Choice One VISA Credit Card or to transfer your balances, call (570) 823-7676, ext. 232, or apply on our
website at www.choiceone.org!
*APR=Annual Percentage Rate. APR is for purchases, cash advances and balance transfers. Rates are subject to change without notice. Other rates and terms available. Rates shown are for qualified borrowers.
Contact the credit union for complete details.
TOP
Choice One would like to thank Michelle Maley, Vice President of Lending Services, who achieved 25 years of service with the credit union on
May 27. Since 1985, Michelle has worked hard to assist our members and has dedicated herself to ensuring we deliver quality and affordable
products. Choice One would like to extend our gratitude to Michelle for her years with the credit union. We look forward to many more!
TOP
Now is the perfect time to buy a new home,
while interest rates are still low and home affordability
has increased. If you've dreamed of
purchasing your first home, stepping up to a
larger home, investing in a vacation property
or refinancing your current home, Choice One's
Mortgage solutions can make it possible!
Regardless of the type of Mortgage you choose,
the interest paid is deductible on your income
taxes - up to one million dollars! This has the
effect of reducing both the effective interest rate
you are paying and the impact on your budget.
Purchasing a home is a big decision, but your
credit union is here to walk you through it. For
complete information as well as answers to all
your questions, stop in or call us to get started.
Whether you are a first-time buyer or are looking
to upsize, downsize or refinance, we have
the Mortgage solution for you. Don't let this
historic opportunity pass you by.
Do you have a high interest Mortgage with
another financial institution? You may be able to
refinance it at our lower rates, saving on interest
and lowering your monthly payments. Ask
us for details.
Apply for a mortgage and get the latest rates
by stopping by the credit union or calling
(570) 823-7676, ext. 237.
TOP
Content developed by CUNA Brokerage Services,
provided by James H. Van Wert, Jr., CFP.
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.
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.
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.
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
the deposits guaranteed by a financial institution.
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 59 1/2.
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.
James H. Van Wert, Jr., CFP is a Financial Advisor with MEMBERS Financial
Services located at your credit union. If you have any questions, or would like to
provide feedback regarding the information presented in this article, you may contact Jim
at (570) 208-4520.
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
TOP
Where will this spring and summer take you? Wherever you end up, our Convenient
Services will help you continue to manage your money smoothly. Manage all of your
accounts and save time and money every day - whether you spend weekends in the
Poconos, weeks down the Shore or even a month traveling across the country!
FREE Share Draft Checking - A Choice One Checking Account makes your life
more convenient - and it's free. Enjoy NO minimum balance requirements, NO monthly
service charge and NO per check charges.
VISA® Check Card - Access your Choice One Checking Account at any ATM worldwide
or pay for purchases anywhere VISA is accepted. Your Check Card makes it easy!
FREE Bill Payer - Pay your bills electronically and manage all of your bills in the same
location. This service provides perfect peace of mind when traveling.
FREE Virtual Branch® Account Access - Manage your money from any computer,
whenever it's convenient for you. Transfer funds, review account balances and even
make loan payments.
BARB - This flexible telephone Audio Response System is a great fit for your busy
schedule because it allows you to manage your accounts while on the go. Call
(800) 610-2788 24 hours a day, 7 days a week to quickly and easily access
your accounts.
Direct Deposit - It's the fast, easy and safe way to have your pay, pension or Social
Security checks automatically deposited and distributed into any Choice One account
you wish.
Payroll Deduction - Payroll Deduction makes saving easy. Designate portions of
your funds to be distributed to your Savings Accounts (including Christmas Club, Vacation
Club, etc.), Checking Account, or even pay your Choice One Loan account.
FREE E-Statements - Sign up to receive your Choice One statement online each
month and obtain your statements on the first day of the month. E-Statements are the
quick and secure way to get your statements. Plus, they are another way to go green!
Enroll in these services by stopping by a branch, calling us at (570) 823-7676, ext. 258 or visiting our website at www.choiceone.org. Don't forget, you earn
.10% off your new or refinanced loan for each of the following 24/7 services: Direct
Deposit/Payroll Deduction, Virtual Branch, VISA Check Card, E-Statements and
Bill Payer.
TOP
Financial literacy has changed over the last few decades. A chalkboard lecture
and a checkbook demonstration are no longer enough to engage students. Today's
youth want - and deserve - more. Choice One has been at the forefront of reaching
students in innovative and fresh ways.
Teach young kids about money management in a fun way, with lessons tailored
directly to their age group. Encourages saving because for each deposit, kids will
receive a Dollar Dog coin, which can be redeemed for merchandise.
cha-ching!SM - Just For Teens!
In addition to products and services designed just for them, cha-ching!SM offers
solid money management tools that you can supervise. Teens want some independence,
but they need to learn the importance of saving.
During their time in this program, young adults go from the pressures of high school to college and out into the workforce. They need comprehensive
tools to help ensure they are off to a smart financial start.
Choice One has teamed up with musicstream LIVE (MSL) to offer engaging concerts at high schools, colleges and community events. Through
the live events and online streaming, teens and young adults can learn about the benefits of credit unions and financial literacy.
Get started or learn more by stopping by a branch, calling (570) 823-7676, ext. 258 or visiting www.choiceone.org.
Come to Misericordia University on
August 30, 2010 from 12 p.m. to
2:00 p.m. to check out the band Faded
Fortune, who will be performing live.
Check out Wilkes-Barre's Annual
Party On The Square this fall, where
Choice One will sponsor the event's
FREE concert.
TOP
Our website offers you a world of information about your
credit union's products and services - and that's not all!
Take charge of your finances 24/7 with FREE Virtual Branch
account access. Offering tremendous flexibility and security,
Virtual Branch allows you to complete transactions from the
convenience of any web-connected computer, all while offering
you protection from fraud. Have total control of your finances
from the comfort of your home and use Virtual Branch to:
- • Check Account Balances
- • Check ATM And Point Of Sale Transactions
- • Review Checks That Have Cleared
- • Transfer Funds Between Accounts
- • Make Loan Payments
Quick, do you know where your bank statement is? Be honest. If
you don't - and even if you do - our E-Statements service might be
right for you. This service is the quick, secure and convenient way
to review your accounts online - and it's free! Save time and paper.
You are notified that your statements are available around the first
day of the month. You can review, print or save your statement any
time. Accurate records can be maintained through exact reprints of
your statement. Plus, E-Statements are a fundamental tool to avoid
mail-fraud. Keep your statements contained and safe by receiving
them electronically. Enjoy peace of mind knowing you have added
protection against identity theft via this fast and free service.
To sign up for these services, simply visit www.choiceone.org to
get started.
TOP
Slow And Steady Wins The Race - That turtle
was onto something. When driving your vehicle,
driving slowly is safer and more cost effective. For
every five miles per hour you drive above 55 mph,
you lose 10% fuel efficiency, so keep your pedal off
the medal and keep more money in your pocket.
Turn Down Your Water Heater - The typical
hot water heater draws nearly 20% of your total
energy cost per year, so set your hot water heater's
thermostat to 120°F - the recommended temperature
for sanitary purposes - and you'll certainly see some
savings.
Reuse Bags - Save even more at the grocery store
by using cloth bags when shopping. Many stores
offer incentives for customers who bring their own
bags. Plus, the cloth bags are much more fun to use!
Program Your Thermostat - A programmable
thermostat is a great investment, because it allows
you to set your home's temperature to a predetermined
schedule, so you don't unnecessarily waste
energy when you're not home or when you're sleeping.
While they cost between $30 and $100, it is
money you will make back over the course of the
year because your energy bills will drop.
Make The Most Of Your Machine - When you
wait to wash loads of dishes and clothes until your
dishwasher or washing machine is full, you make
the most of the energy used. Also, whenever possible,
air-dry clothes - and always air-dry dishes in
the dishwasher.
TOP
|
Your Hot Summer
Savings Option: Skip A Loan Payment!
Hit The Road In The Vehicle Of Your Dreams!
Convenience Doesn't Have To Stop Just Because You're On The Go
Help The Planet... And Your Bottom Line
