Save at college | 4 Everyday tips for students to save on campus.
Scholarships | 14 Apply to win a $2,500 Davis Scholarship.
Lines March-April 2012
Volume 28 â€˘ Number 2
CAP COM Members Kelly and Ebi Campbell at their Albany home.
Refinance | 16 How much will you save with your Mortgage refi?
We’re helping you
CAP COM helps to protect members from identity theft with a combination of safeguards such as employee training, strict privacy policies, and rigorous security standards. But, you can do more to stay safe. Tips for staying safe • Shred financial statements and sensitive information. Criminals can get canceled checks, deposit receipts or bank statements from dumpsters or trash bins. • Delete all personal information before disposing of a computer. • Be aware of missing mail such as account statements and bills. Consider using eStatements and eNotices for improved safety and faster statement delivery. • Review your accounts regularly for unauthorized charges. Also, monitor your credit on a regular basis. • When doing business online, use firewalls, anti-spyware, anti-virus software and a secure browser. Never respond to unsolicited requests for personal information. • Never download from, open attachments or click on a web link in an e-mail from an unfamiliar source. • Protect web passwords by using letters and numbers. Change passwords often and avoid automatic log-in features. • Smartphone users should install antivirus software and protect their device with a password. Also, never store user names and passwords on the device.
Contact our Risk Management Team at (518) 458-2195 ext. 2200 with any questions.
LINES contents 2 Youth Program Calendar Upcoming program deadlines. 3 Savings tools for parents Tips for School Banking parents. 4 Get creative and save! College students learn to save. 5 Workshops and calendar Sign up for our workshops. 6 Important notices Claim your unused accounts. 7 Will you win $2,500? Use your Debit Card and win. 8 Home buying made easy One couple’s home buying adventure. PLUS: Understanding your FICO score. 10 CAP COM Financial Inflation and your retirement. 12 Home Equity Loans Access your home’s equity. 13 Credit Union Car Sale Great deals at the April 21 event. 14 CAP COM Cares Win with the BIG Benefit Raffle. 16 Refinance and save How much will you save? Lines of Communication is published bimonthly exclusively for CAP COM Federal Credit Union members. MELISSA CLEMENT Director of Strategic Marketing and Innovation JIM O’CONNELL Marketing Specialist
March/April ‘12 | 1
President/CEO’s Message The spring inspires me. It is a time of new life and fresh energy. At CAP COM, we can harness that inspiration and help you make progress. That’s what we did for Ebi and Kelly Campbell. The young couple from Albany worked with Licensed Mortgage Expert Eric Cruz to successfully navigate their home-buying adventure. “Eric really knew his stuff. And, he knew what it was like to be a first-time homebuyer. When we talked, it felt like we had been friends for years,” Ebi tells us on Page 8. That friendly, expert service can be found in every area at CAP COM. For example, our Car Buying Experts will be Find out how CAP COM on hand to help at can inspire you! our Main Office on Saturday, April 21 during our spring Used Car Sale. With more than 150 cars and trucks on site at pre-negotiated prices, it is the best place in the Capital Region to find a great deal. The Car Sale is one of many exciting Credit Union events. You’ll find a list of upcoming educational workshops on Page 5, including College Bound workshops with admissions expert Dr. Dean Skarlis. In addition, our annual $2,500 Davis Scholarships for 15 young members are detailed on Page 14. We are truly helping families at every stage of life. Yet, college planning and Auto Loans are just a piece of what we do. Our Foundation will be at several upcoming community events shown on Page 15. Find out how CAP COM can inspire you! Visit any branch or call us at (518) 458-2195 today. Sincerely,
DEBORAH COLLINS-RAPP Marketing Specialist ELI FANNING Editor LAURA REYNOLDS Designer
Paula A. Stopera President/CEO
WILLOW DANNIBLE Marketing Associate The Supervisory Committee is the members’ representative. Please address any situations you feel were not handled to your satisfaction by the Credit Union to: Supervisory Committee, P.O. Box 11279, Albany, NY 12211-0279.
13 | Take the stress out of buying a car!
Visit the Used Car Sale on April 21. Our Car Buying Experts are working with local dealers to pre-negotiate substantial discounts on used cars and trucks!
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March Winter Reading Program Kids in grades K to 12 earn up to $15 ($3 per book)* by reading up to five books by March 31. Book entry guidelines • Ages 4 to 8 submit a drawing of a scene or the cover. • Ages 9 to 12 submit a 50-word written summary. • Ages 13 to 17 submit a 100-word written summary. Making Reading Program submissions Submit a signed entry form with each set of book entries. Find entry forms at www.capcomfcu.org/readingprogram. • Submit entries at any branch. • Scan entry form and entries and send them via e-mail to firstname.lastname@example.org. • Fax entry form and entries to (518) 435-7224. • Mail entry form and entries to: CAP COM FCU – Attn: Winter Reading 18 Computer Drive East, Albany, NY 12205 • Children in our School Banking Program can include copies in a sealed envelope on School Banking days.
Must be a member to participate.
A drawing by Vishay, 9, of Latham, shows “The Mystery of Stonehenge” by Franklyn Branley.
April & May
Davis Scholarships CAP COM will award $2,500 to 15 young adult members. Applications must be submitted by May 1. See full Weidner “Ed” Davis Scholarship details on Page 14. For more information, call Youth Program Coordinator Danielle Sprague at (518) 458-2195 ext. 3032.
Great GradesSM Kids in grades K to 12 can earn $10 for every report card* (up to $40 per year)!** The deadline for 3rd Quarter Report card submissions is June 1. Please submit report card copies with your child’s name. Making Great Grades submissions • Bring a copy to any branch location. • Scan the report card and send it via e-mail to email@example.com. • Fax a copy to (518) 435-7224. • Mail a copy to: CAP COM FCU – Attn: Great Grades 18 Computer Drive East, Albany, NY 12205 • Children in our School Banking Program can include a copy in a sealed envelope on School Banking days. Must be a member to participate.
*See website or ask an Associate for additional details, current rates and disclosure information. **For students who receive three report cards per school year, CAP COM will accept an interim progress report in place of a fourth report card.
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The School Banking Program teaches kids to save by making deposits at school. But, it’s not always kids who need help. Parents can also benefit by taking a fresh look at saving for the future. In fact, family finance expert and national television personality Suze Orman said in a recent newspaper interview: “People don’t pay attention to the most important thing in their lives. They’re not paying attention to their money.” That’s where CAP COM can help. Below, you’ll find three tools for saving and on Page 11 you’ll find details about our 529 College Savings Workshop.
Savings tools CertifiKID* Secure your child’s savings in a CertifiKID. Your child’s money will grow faster than in a regular Savings Account and you can add money regularly with payroll deductions. What’s more, there is no minimum balance to get started. Special Club Accounts Save automatically with payroll deductions and make withdrawals at any time without penalty. With popular options like our Holiday Club Accounts, you can keep a balance of just $100 to earn dividends. Certificates Grow your money over time with a Certificate. If you are saving for long-term goals, then a Certificate is just what you’re looking for. What’s more, our 21-Month Allowance Certificate** allows one penalty-free withdrawal. *Penalty for early withdrawals. Available in 18- or 36-month term. **One withdrawal of any amount may be taken penalty-free throughout the term of the certificate. After that, maximum withdrawal without penalty is $2,500. A minimum amount of $5,000 is required to open the certificate. $500 minimum to earn APY.
Discover more today! • Call (518) 458-2195 ext. 4656 or send an e-mail to firstname.lastname@example.org. • Visit www.capcomfcu.org. • Ask at any branch location.
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Get creative and save everyday For college students, not all bottles of water are created equal. In fact, a bottle purchased in bulk from a grocery store can cost as little as 20 cents each. At a vending machine, you may pay $1.50. If you drink five bottles a week, that’s $5.25 saved weekly, $21 monthly and $252 yearly. Buying water in bulk for your dorm room is just one smart way to save. The best advice for high school students budgeting for college is: Find creative ways to save and know the difference between wants and needs. That’s part of what high schooler Colton Robtoy learned at our recent College Bound workshops. We’ll have similar lessons and big-picture college planning tips for parents and students throughout March. See Page 5 at right for details. Tips to save for college: • Pay yourself first. Save a portion of the money you make at a summer job or from family gifts for the school year. • Stay on campus. Some students make frequent trips home during holidays and school breaks. The travel expense can add up. Plan out any trips home and look for ways to stay in your dorm room or apartment instead. • Open a Young Adult Checking Account, enjoy free* withdrawals at any ATM on campus or around the world. Plus, monitor your balance each day on your smartphone with our iPhone and Android Mobile Banking Apps.
“College Bound has helped me prepare for the daily routine at college.” - Colton Robtoy, a senior at Shenendehowa High School in Clifton Park. * CAP COM will reimburse members with a Young Adult Checking Account (ages 15-22) for any ATM surcharge or foreign transaction fee.
Ryan Chenot College Specialist (518) 458-2195 ext. 3170 email@example.com Kim Donah Certified College Planning Specialist (518) 458-2195 ext. 3106 firstname.lastname@example.org www.capcomfcu.org/collegebound
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Workshops CAP COM hosts informational workshops on topics that matter to you. Reservations are required. Unless noted, workshops are free. COLLEGE PREP WORKSHOP High school sophomores, juniors and parents learn about college selection, applications, scholarships and building a smart financing plan. Special guest: Dr. Dean Sklaris, college admissions expert from The College Advisor of New York. Tuesday, March 6 | 6:30-8:30 p.m. Doors open at 6:15 p.m. Century House, Route 9 in Latham COLLEGE EXPERIENCE WORKSHOP High school seniors and parents learn what to expect at college and get details about funding options. Special guest: Dr. Dean Sklaris, college admissions expert from The College Advisor of New York. Tuesday, March 27 | 6:30-8:30 p.m. Doors open at 6:15 p.m. Century House, Route 9 in Latham FIRST-TIME HOMEBUYERS WORKSHOP Learn the basics and get advice from Licensed Mortgage Experts. Tuesday, March 13 | 6-8 p.m. Doors open at 5:45 p.m. Main Office 18 Computer Drive East, Albany
529 COLLEGE SAVINGS WORKSHOP* Discover more about this tax-advantaged plan to save for your child’s education. Tuesday, March 20 | 6-7:30 p.m. Doors open at 5:45 p.m. Main Office 18 Computer Drive East, Albany AARP DRIVER’S SAFETY PROGRAM Safety program for drivers age 50 and older (AARP fee applies). Tuesday, May 8 Wednesday, May 9 9 a.m. - noon Training Center 18 Computer Drive East, Albany * See Page 11 for additional disclosure.
Workshop RSVP • (518) 458-2195 ext. 3168 • email@example.com • www.capcomfcu.org
MARCH Tuesday, March 13 Most branches open late at 8:45 a.m. due to company-wide staff training. Exceptions include: Latham Branch at 8:30 a.m. Glenmont Branch at 9 a.m. Glens Falls Branch at 9:30 a.m. Wednesday, March 14 Annual Meeting begins at 5:30 p.m. at The Desmond Hotel and Conference Center. Doors open at 5 p.m. for registration. To RSVP, call CAP COM at (518) 458-2195 ext. 3113. APRIL Saturday, April 21 Credit Union Used Car Sale Local dealers on site from 9 a.m. to 3 p.m. at our Main Office on Computer Drive East with deals on previously owned cars and trucks. MAY Tuesday, May 15 Most branches open late at 8:45 a.m. due to company-wide staff training. Exceptions include: Latham Branch at 8:30 a.m. Glenmont Branch at 9 a.m. Glens Falls Branch at 9:30 a.m. Saturday, May 26 & Monday, May 28 Branches closed in observance of Memorial Day.
Include in your RSVP: • Name • Address • E-mail and phone number • Number of attendees • How you discovered our workshops
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IMPORTANT NEWS AND INFORMATION FROM CAP COM
Debit Card holders Do you occasionally make purchases or pay bills using your VISA Debit Card without signing a receipt or entering your Personal Identification Number (PIN)? If so, you are performing a “PIN-less transaction” that may be processed through the NYCE or CO-OP Networks. Such transactions may not provide you with
Managing your IRA account CAP COM makes it easy for you to manage your IRA retirement savings online with our IRA Center. Visit our website at www.capcomfcu.org and click on the “Invest” tab. Then choose “Retirement Central.” Please note: Payments from your IRA are subject to federal income tax withholding, unless you elect no withholding. You may change your withholding election at any time prior to your receipt of a payment. To change your withholding election, contact us for the appropriate form. Withholding from IRA payments, when combined with other withholdings, may relieve you from payment of estimated income taxes. However, your withholdings election does not affect the amount of income tax you pay. You may incur penalties under the estimated tax rules if your withholding and estimated tax payments are insufficient. Please consult a tax professional for advice. If you are interested in making changes to your IRA withholding election, contact our IRA Department at (518) 458-2195 or (800) 468-5500 ext. 3932.
VISA’s Zero-Liability Protection.* If merchants offer “PIN-less transactions,” they must provide you with a clear method to select a protected VISA transaction. *Please refer to your cardholder agreement for a description of the protections and rights afforded to you.
Don’t abandon your cash Did you know that an account with no activity for three years becomes the property of New York State? If you have an account with no activity be sure to reclaim it before it becomes abandoned property! CAP COM will be contacting members with accounts that meet the state’s requirement for abandoned property in July. We will also be contacting members with bank checks that have not been cashed in three years, as there are specific requirements for replacing the check. If you are not sure of the status of your CAP COM account, contact an Associate at (518) 458-2195 or (800) 468-5500, or send an e-mail to firstname.lastname@example.org. Here are some tips to keep your account from becoming abandoned property. • Keep your accounts active. More than half of unclaimed accounts are dormant Savings Accounts that have had no activity for three years. Make small deposits or withdrawals every year to keep your account active. Please note: If an automatic debit or credit is the only activity on your account, it will still be considered dormant.
• Take another look at your account. Also, check out the convenient products and services CAP COM offers to help make banking easy! • Keep accurate records. Record all bank accounts, stock certificates, insurance policies, utility and rent deposits. • Leave an address. Notify all financial institutions when you move. • Let someone know. Tell a family member, trusted friend or advisor where you store your records. • Cash checks promptly. Make sure you cash all checks for utility deposits, dividends, insurance, wages and any other refund you receive as soon as you can.
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In the spotlight In January, CAP COM recognized employees for outstanding efforts in support of members and fellow employees with TOP Awards. Leadership Award Michael Shoen Internal Audit Manager Main Office 4 years of service
TOP Sales Theresa Petrone Foundation Administrator Main Office 1 year of service
TOP Service Ryan Chenot College Planning Specialist Main Office 3 years of service
TOP Support Christie Braman Electronic Services Specialist Main Office 4 years of service
Will you * win
$2,500? for more chances to win* $2,500! Every time you use your CAP COM VISA® Debit Card between Feb. 1 and April 30, you’ll be entered for a chance to win a $2,500 account deposit. There is no fee to use your card, so swipe, sign or buy online for more chances to win! Use your Debit Card At checkout – In person, online or over the phone. It’s fast, easy and secure. And, most purchases enjoy VISA’s Zero Liability Protection.† At the ATM – Get cash at our network of free and low-fee ATMs, including withdrawals for just $1** at more than 300 Stewart’s Shops. To pay bills – Set up one-time or recurring payments from your Debit Card in person or online. *No purchase or transaction necessary to enter or win. Open to CAP COM FCU debit card cardholders who are legal US residents, 18 or older at time of entry. See full official rules for alternate method of entry and odds of winning. Subject to full official rules att www.capcomfcu.org/sweeps. Void where prohibited. Sponsor: CAP COM FCU, 18 Computer Drive East, Albany, NY 12205. † Zero Liability Protection excludes ATM transactions and non-VISA-branded transactions. **A 50-cent surcharge per withdrawal applies after 10 withdrawals made in one month from any combination of CO-OP, SUM or Stewart’s Shops ATMs. A $2 ATM fee is charged by Stewart’s Shops. CAP COM will make a $1 reimbursement deposit for each Stewart’s Shops ATM withdrawal within 24 hours. CAP COM will reimburse members with a Young Adult Checking Account (ages 15-22) for any ATM surcharge or foreign transaction fee.
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Members Ebi and Kelly Campbell bought a great two-family home in Albany with help from CAP COM. “After we got pre-approved for a Mortgage, I jumped up and cheered.” - Ebi Campbell, of Albany
Buying a first home can be a roller coaster ride. That’s something Ebi and Kelly Campbell know well. The young couple from Albany recently worked with CAP COM Licensed Mortgage Expert Eric Cruz to successfully navigate their own up-and-down search for a home. “Eric really knew his stuff. And, he knew what it was like to be a first-time homebuyer. When we talked, it felt like we had been friends for years,” Ebi said. The couple started with a Mortgage pre-approval meeting with Eric. The meeting included a financial analysis and FICO credit score calculation, giving the couple a realistic estimate of a Mortgage they could afford. “We didn’t really know how it worked and we didn’t want to bite off more than we could chew,” Ebi said. After being approved, the couple targeted a home on Avenue B in Albany and made a bid to buy it but the deal fell through. But, a few weeks later, another two-family home on the same street was put up for sale. CAP COM’s Mortgage Department stepped in to help get the deal done. Today, the couple are enjoying their new home. Mortgage products are offered by our Mortgage Team, CCFCU Funding LLC, which is an independently incorporated subsidiary of CAP COM FCU. Mortgages in New York State only. Home loan interest may be tax deductible. Consult your tax professional about deductibility in your situation. Licensed Mortgage Banker - NYS Dept. of Financial Services. CCFCUF NMLS Identifier: 290363. CAP COM FCU NMLS Identifier: 401261. Principal Address: 453 New Karner Road, Albany NY 12205.
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Understanding your FICO score Your FICO credit score is an objective measurement of your credit risk. Your score can impact the credit offers and interest rates you are eligible for. Based on categories used to calculate your FICO score (see chart), there are several ways to improve your score: • Pay down credit card balances. • Keep zero-balance credit cards to increase borrowing capacity. • Pay your bills on time.
FICO score breakdown Percentages below reflect each of the FICO categories used to calculate your score. The chart shows why paying bills on time will boost your score: Payment History is 35% of the calculation.
Get started today! • (518) 458-2195 or (800) 468-5500 ext. 2920 • www.capcomfcu.org • Visit any branch
Length of Credit History
Types of Credit Used
Source: MyFico.com and Fair Isaac & Company
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(518) 782-0209 | (800) 688-1045 | Fax (518) 782-5433 www.capcomfinancial.com
overlook the “I word” Achieving long-term goals including a healthy retirement income requires a portfolio of investments that will provide returns that outpace the rate of inflation. Most experts are optimistic that rising growth projections at home and abroad will help the global economy recover. Yet, economic recovery brings with it the dreaded “I word” – inflation. Inflation can be seen in the escalating price of commodities, particularly oil. And though oil and other commodity prices fluctuate, one thing is clear: Even a mild inflation rate can significantly erode purchasing power. For example, an annual inflation rate of 3 percent could drive the value of a dollar saved today down to the equivalent of 41 cents in 30 years, according to the Bureau of Labor Statistics. Planning to achieve long-term retirement goals requires a portfolio of investments that factors in inflation. That’s
where a Financial Advisor from CAP COM Financial Services can help. Call us at (518) 782-0209 to get started to start building your portfolio today. “We can help build a portfolio to outpace inflation. Over the long run, stocks may provide the best potential for returns that exceed inflation,” said Steve Massey, Director of Advisory Services. For example, the annualized return for a portfolio composed exclusively of stocks between 1926 and 2010 in Standard & Poor’s Composite Index of 500 Stocks was 9.93% – well above the annual inflation rate of 3% during the same period. - Steve Massey Director of Advisory Services
This article was prepared by McGraw-Hill Financial Communications and is not intended to provide specific investment advice or recommendations for any individual. Consult your financial advisor if you have any questions. Sources: Standard & Poor’s; Barclay’s Capital. Stocks are represented by the total annual returns of the S&P 500, an unmanaged index that is generally considered representative of the U.S. stock market. Other risks inherent to investments in stocks include the fluctuation of dividend, loss of principal, and potential illiquidity of the investment in a falling market. Bonds are represented by the total annual returns of the Barclays Long-Term Government Bond index, a broad-based index that is generally considered representative of the U.S. bond market. Inflation is represented by the annual change in the Consumer Price Index. It is not possible to invest directly in an index. Past performance is not a guarantee of future results. The performance shown is for illustrative purposes only and is not indicative of the performance of any specific investment. Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and are subject to availability and change in price. Investing in stocks involves risks, including loss of principal. CAP COM Financial Services and CAP COM Investment Services - Securities and annuities products offered through LPL Financial, Member FINRA/SIPC. Annuities offered through LPL Financial or its licensed affiliates.1 A Registered Investment Advisor, CAP COM Financial Services is a division of CAP COM Federal Credit Union. CAP COM Financial Services and CAP COM Federal Credit Union are not registered broker dealers and are not affiliated with LPL Financial. Financial planning, tax preparation and insurance services offered through CAP COM Financial Services, LLC, a Registered Investment Advisor. LPL Financial Representatives offer access to Trust Services through The Private Trust Company, N.A., an affiliate of LPL Financial.
Not NCUA Insured
May Lose Value
No Credit Union Guarantee
March/April ‘12 | 11
INSURANCE OPTIONS Paying for
long-term care Paying for care when you or a parent needs it almost always requires planning. And, it’s never too early to start assessing your options. An Insurance Representative from CAP COM Financial Services can outline the options available and help you develop a plan. Prepare for a smart future today. OPTIONS
Personal savings such as CDs, mutual funds, individual stocks and bonds.
Get the long-term care you prefer.
Retirement income including 401(k)/403(b) distributions and pension payouts.
If income covers the cost of care, you can avoid spending down other assets.
You’ll need to accurately estimate the costs of long- term care. Income often falls short, particularly for couples living on a single income.
Long-Term Care Insurance benefits that cover most long-term care costs. Get a 5% discount on Long-Term Care Insurance after March 1!
Avoid using other assets to cover costs. And, you could get more care benefits that premiums paid.
Premiums vary depending on benefits and may not be returnable. You may need to pay for care first and be reimbursed.
Accelerated life insurance can leverage death benefits to reimburse qualified long-term care expenses.
Some policies have a one-pay premium or offer a return of premium at an additional cost. Get more money for expenses that actual premium paid.
Loans, withdrawals or benefits will reduce premium returned, which can carry tax implications. You may need to pay for care first and be reimbursed.
529 College Savings Workshop
- Herb Warden Insurance Representative
Discover more about this tax-advantaged plan to save for your child’s education. See Page 5 for RSVP details.
Talk with us!
Tuesday, March 20 | 6-7:30 p.m. Doors open at 5:45 p.m. Main Office 18 Computer Drive East, Albany
Call CAP COM Financial Services at (518) 782-0209 and set up a meeting. Our Financial Advisors are salaried, non-commissioned professionals who provide unbiased retirement, insurance, estate planning and tax advice for our members.
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It’s time to finish those projects you’ve been putting off. • Bring that new kitchen, family room or deck to life: Many remodeling projects enhance property value. • Fast and easy Home Equity Loans featuring: Same-day approval and closings within two weeks. • Unique draw periods of 4 or 20 years: Draw money from your loan over time as you need it. • Home Equities ranging from $10,000 to $150,000 that feature: No pre-payment penalties. • Finish from home: Closings with no branch visit required!
Apply today! • (518) 458-2195 ext. 2924 • www.capcomfcu.org • Visit any branch location
CAP COM has Home Equity rates as low as
for six months
after six months
*Annual Percentage Rate. Mortgages in New York State only. All Line-of-Credit loans require a minimum initial advance of $5,000 and a minimum limit of $10,000. The rate quoted is based on a loan-to-value up to 80% in first mortgage position and is available for the first 6 months of a 20-year variable rate loan. Other rates/terms available. Sample payment for 2.99% Annual Percentage Rate is $5.54 per $1,000. Rates were effective 2/15/12 and are subject to change without notice. New York State Mortgage Tax and county filing fee will apply. Additional closing costs may apply. Credit Union membership required.
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CAP COM Used Car Sale
GET PRE-AP PRO BEFORE VED YOU SHOP!
Our Car Buying Experts will be working with local dealers to pre-negotiate substantial discounts on used cars and trucks. • More than 150 cars on site. • Get pre-approved or apply for financing at the sale. • Pre-negotiated pricing with discounts on all vehicles. Saturday, April 21 9 a.m. - 3 p.m. Main Office 18 Computer Drive East, Albany
Get pre-approved by April 20! Then, buy a car at the Car Sale for a chance to win:** • Your first CAP COM Auto Loan payment up to $500!*** • One of four $50 Gas Cards.
*Annual Percentage Rate. All rates quoted are for individuals with excellent credit who select our Automatic Payment Plan. Individuals with less than excellent credit and/or who do not select our Automatic Payment Plan may be offered a higher rate. Rates are accurate as of Feb. 15, 2012. Rates subject to change without notice. Visit our website or call for rates and terms. **Sweepstakes Rules: No purchase necessary. Must be 18 or older to enter. CAP COM FCU employees, volunteers and their families are not eligible. IRS regulations may require that prizes/ winnings be reported as income. Gift card winners are responsible for using gift cards before expiration date. If not used before the expiration date, the gift will be forfeited. All prizes not claimed within 30 days of written notification will be forfeited. You may also enter by mailing a 3 x 5 card with your name and address to: CAP COM FCU, 18 Computer Drive East, Albany, NY 12205-1168, Attn: Marketing Department. One entry per person. ***Credit Union membership required for loan disbursal.
Dave Pearson Car Buying Expert
Get pre-approved today! • (518) 458-2195 ext. 2924 • www.capcomfcu.org • Visit any branch location
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2011 scholarship winners
In the top row, from left: Amber Leto, Haily Steed, Marina Boschi, Arielle Grober, Courtney Lynch, Megan Ryan, Ashley Sweet, Claire Freehafer, Elizabeth McDermott and Chelsea Aaron. In the bottom row, from left: Matthew Conti, Charles Garrett Rappazzo, Greg Marchand, Brendan Malone, Thomas Heaten and Sean Tilley.
$2,500 scholarship for college Weidner “Ed” Davis Scholarships The CAP COM Cares Foundation will award $2,500 college scholarships to 15 students. Our Davis Scholarship Program awards $37,500 each year to CAP COM members* who are graduating from high school or pursuing an undergraduate degree! Apply today! Visit www.capcomfcu.org/scholarships to download the application form. Submit an application package including: • A completed essay answering the question at right in 500 words or less. Include a word count total on the essay page. • A completed application form. Download form at www.capcomfcu.org/scholarships. • A copy of your tuition bill or acceptance letter. • Mail the essay, application form, and tuition bill or acceptance letter to: CAP COM Federal Credit Union Attn: Davis Scholarship 18 Computer Drive East Albany, NY 12205 *To be eligible for the scholarship, you must be a member of CAP COM Federal Credit Union when you submit your application. Scholarships are available to CAP COM members who are age 25 or younger and who are graduating high school or pursuing an undergraduate degree. CAP COM employees, volunteers and their immediate family members are not eligible. Essays must be 500 words or fewer. If an essay is longer, judges will only read the first 500 words. All applications must be received by the deadline of May 1, 2012.
The scholarship application deadline is May 1, 2012. All scholarship materials must be received by May 1. Winners will be notified of scholarship awards in June. For more information, contact Youth Program Coordinator Danielle Sprague at (518) 458-2195 ext. 3032 or email@example.com. Scholarship Essay Question: Balancing career and educational goals with college costs is increasingly difficult. Students today often face high college costs and often take on too much debt. Tell us how you see these factors influencing college and career choices for your age group.
CAP COM Cares
Foundation Proudly established by CAP COM Federal Credit Union
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CAP COM Cares Foundation’s
BIG Benefit Raffle We’re giving away
$21,000! Tickets are only $25 each!
$10,000 Grand Prize $5,000 Second Place Prize Six $1,000 Prizes Buy tickets today at any branch, online at www.capcomcares.org or by calling (518) 458-2195. Drawing will take place on May 2, 2012.
Your ticket purchase supports our Foundation’s community outreach and scholarship programs.
Join us at the Literacy Run CAP COM is a proud sponsor of the Literacy Volunteers of Rensselaer County’s Literacy Run/Walk. The event raises money to help volunteers teach reading skills. Race information: Date: Sunday, May 6 Location: Races start at the Atrium Building in downtown Troy Race times: 9 a.m. 9:30 a.m. 10 a.m.
Children’s Run 1 Mile Youth Race 5K Race
Visit www.lvorc.org for more information or to register.
*Winners are responsible for all applicable taxes. Ticket holders need not be present to win. You must be 18 years old or older to purchase a ticket. Seek advice from a tax advisor for tax deductibility. Void where prohibited by law. The odds of winning depend on the number of tickets sold. A maximum of 3,500 tickets will be sold. The Foundation will stop selling tickets the sooner of 11:59 p.m. on Monday, April 30, 2012 or when all 3,500 tickets are sold. The $10,000 winner will be drawn first on May 2, 2012 followed by the $5,000 winner and then the six $1,000 winners. By purchasing a ticket you authorize that your name and/or photograph can be published in Credit Union and Capital Region publications. ID#GC 01-204-499-07635.
Support Our Soldiers Our Foundation sends gift packages out twice a year to CAP COM members who are serving overseas in the U.S. military. As part the Support Our Soldiers (SOS) Program, we send some of the comforts of home to dedicated soldiers. We purchase and package items such as board games, coffee, music CDs, DVDs, magazines and candy. To provide a soldier with a care package, contact Foundation Administrator Theresa Petrone. See contact information at right. At a recent SOS event, children of CAP COM employees helped assemble care packages.
Golf tournament Join us at Wolferts Roost Country Club in Albany on Monday, June 11 at 10 a.m. for the CAP COM Cares Foundation’s 16th Annual Charity Golf Tournament. • Sponsor registration is underway • Golfer registration starts April 2 For more information, call Foundation Administrator Theresa Petrone at (518) 458-2195 ext. 3553 or e-mail at firstname.lastname@example.org.
16 | March/April ‘12
How much will
you save? A $200,000 mortgage with a 30-year term and a 6% interest rate leaves you with a $1,200 monthly payment. Dropping that rate to 4.25% by refinancing you could save $216 per month! Find out how much you could save. Get a free analysis from our Licensed Mortgage Experts and find the refinancing solution that is right for you. • Save on monthly payments or refinance and shorten your Mortgage term. You could save thousands in the long run. • You can also refinance and consolidate high-rate debt or pay for a major expense. • Refinance for more than you owe and use the difference for anything from home improvement to college tuition. Start today! • (518) 458-2195 or (800) 468-5500 ext. 2920 • www.capcomfcu.org • Visit any branch Mortgage products are offered by our Mortgage Team, CCFCU Funding LLC, which is an independently incorporated subsidiary of CAP COM FCU. Mortgages in New York State only. Home loan interest may be tax deductible. Consult your tax professional about deductibility in your situation. Licensed Mortgage Banker - NYS Dept. of Financial Services. CCFCUF NMLS Identifier: 290363. CAP COM FCU NMLS Identifier: 401261. Principal Address: 453 New Karner Road, Albany NY 12205.
At a glance PHONE CCFCU Phone (518) 458-2195 CCFCU Toll Free (800) 468-5500 CCFCU Fax (518) 458-2261 Touch-24 (518) 458-8986 Touch-24 Toll Free (800) 634-2340 BRANCH HOURS Monday to Wednesday Lobbies 8:30 a.m. - 4:30 p.m. Drive Thrus 8 a.m. - 5 p.m.* Thursday and Friday Lobbies 8:30 a.m. - 6 p.m. Drive Thrus 8 a.m. - 6 p.m.* Saturday Lobbies 8:30 a.m. - 12:30 p.m. Drive Thrus 8:30 a.m. - 12:30 p.m. *See Early Drive Thru Hours below. EARLY DRIVE THRU HOURS Monday to Friday Main Office & Latham 7:30 a.m.
BRANCH AND ATM LOCATIONS Albany (Main Office and mailing address) 18 Computer Drive East Albany, NY 12205-1168 Brunswick 799 Hoosick Road Clifton Park 1744 Route 9 Cohoes 219 Ontario Street
ATM LOCATIONS Clifton Park Food Court, Clifton Park Center Waterford (Limited branch hours) 260 Hudson River Road SURCHARGE-FREE ATMs SUM Networks and CO-OP ATMs STEWART’S SHOPS ATMs Use any Stewart’s Shops ATM for just $1 per withdrawal.*
Colonie 341 New Karner Road
*Initial fee is $2 and CAP COM will reimburse members $1 for each withdrawal within 24 hours.
Glenmont 384 Bender Lane
Locate ATMs at www.capcomfcu.org or with our Mobile Banking Apps.
Glens Falls 8 Glens Falls Tech Park
WEB & MOBILE BANKING www.capcomfcu.org Secure online banking and convenient mobile-device banking featuring CAP COM’s iPhone and Android Apps.
Latham 4 Century Hill Drive Niskayuna 582 Balltown Road North Greenbush 233 Route 4
CAP COM FCU is federally insured by the National Credit Union Administration.
Discounts Join the YMCA 10% off monthly membership Enjoy 10% off the cost of your monthly membership when you pay with a CAP COM Debit or Credit Card at any Capital District YMCA branch. YMCA programs help strengthen our community one member at a time.
CAP COM exclusive: Tickets for $12! Albany Devils AHL action Get discount tickets to upcoming Times Union Center home games: • Sunday, March 18 vs Hershey Bears at 4 p.m. • Saturday, April 7 vs Adirondack Phantoms at 7 p.m. • Saturday, April 14 vs Providence Bruins at 7 p.m. Visit the Member Discount page at www.capcomfcu.org/discounts
Become a Member Company CAP COM serves more than 500 Member Companies. It’s easy for employees at Member Companies to join CAP COM. Add CAP COM to your benefits package for FREE and receive: • On-site presentations about CAP COM benefits. • Educational workshops at your location. • Unique promotions exclusively for our Member Companies. • A summer visit from the CAP COM Ice Cream Van. All Member Companies can join our Member Discount Program.** Discounts are offered to CAP COM members on our website and in our newsletter. Find a full list of discounts at www.capcomfcu.org/discounts.
Call Carie to discover more today! Carie Sala Business Development Manager email@example.com (518) 458-2195 ext. 3671 www.freecompanybenefit.com
**Offer details vary by vendor. Program effective as of 2/1/10 and updated as of 2/1/12. Credit Union does not endorse or guarantee the products or services of Member Companies. Previous purchases excluded. Program subject to change or cancellation without notice.
OPEN TO THE PUBLIC!
CAP COM Used Car Sale Saturday, April 21 9 a.m. - 3 p.m. Main Office 18 Computer Drive East, Albany Get pre-approved by April 20 and purchase a car at the Car Sale for a chance to win:*
PRSRT STD U.S. Postage PAID Albany, NY Permit #186 18 Computer Drive East Albany, NY 12205-1168
• Your first CAP COM Auto Loan payment up to $500! • One of four $50 Gas Cards.
*See Page 13 for details.
Save at college | 4 Everyday tips for students to save on campus.
Scholarships | 14 Apply to win a $2,500 Davis Scholarship.
Volume 28 • Number 2
of Communication Volume 28 • Number 2
Refinance | 16 How much will you save with your Mortgage refi?
Published on Feb 23, 2012