Lines of Communication

LINES

Summer 2019

of Communication

Here’s your chance to win a VIP experience on us!

See page 3.

Summer Fun

Road Trip

Home Style

Concert Giveaways and Great Escape Discounts

Car Deals All Year & Locate Free ATMs

Enhance your Living Spaces and Landscapes

2 President/CEO Message

THIS ISSUE

President/CEO Message

2 President/CEO Message

3

Live Life VIP Sweepstakes Noteworthy & New

4

Help for House Hunters Ways to Save

5

Update Your Living Spaces Car Deals All Year

6

Popular Business Solutions

7

Financial Independence

8

When you became a member of CAP COM, you joined a financial institution that focuses on you.

We recognize that as you thrive, our neighborhoods flourish and local businesses rise with you.

Whenever you need financial assistance, your timing is always perfect here. We’ll be here throughout your life to help you live your dreams, as well as to guide you through difficult times.

I encourage you to take advantage of as many member benefits as possible. Our services are built to boost your financial wellbeing, supported by employees who advocate for you.

Assisting our neighbors in need is also central to our service philosophy.

Christopher McKenna President/CEO

Financial Literacy for Life

BANK ANY WAY YOU LIKE CLICK Bank Online www.capcomfcu.org TAP Get our Mobile Banking App www.capcomfcu.org/mobile CALL Contact Member Services or Bank by Phone Keypad (800) 634-2340 (518) 458-2195 Headquarters VISIT 11 Neighborhood Branches plus Shared Branches Across the U.S. www.capcomfcu.org/locations

Through our CAP COM Cares Foundation, our passionate volunteers donate countless hours to help people in the community Whether you choose to bank at a branch, over the phone, online, or with your mobile device, we want your CAP COM experience to be easy and enjoyable. If you prefer the convenience of digital banking, remember you can always pick up the phone or visit us for VIP attention.

So, go ahead and start thinking about a goal you might want to achieve and let us help you make a financial plan to fulfill it.

Thank you for being a member and enjoy this beautiful summer weather!

CALENDAR JULY

AUGUST

SEPTEMBER

Thursday, July 4 Closed for Independence Day

Saturday, August 31 Closed for Labor Day weekend

Monday, September 2 Closed for Labor Day

Wednesday, July 31 Live Life VIP Sweepstakes Early Bird Prize Deadline. See p. 3.

Live Life VIP Sweepstakes Grand Prize entry deadline. See p. 3.

Great Grades, Summer Reading deadline. See: www.capcomfcu.org/kids

Lines of Communication is published for CAP COM Federal Credit Union members 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 Federally insured by NCUA

Highlights 3

Your chance to win a luxury cruise vacation or VIP concert experience!* Live life to the fullest, supported by financial advocates who treat you like a VIP. Enter our Live Life VIP Sweepstakes* for your chance to win: Grand Prize - Norwegian Cruise Line® cruise or vacation of your choice (Yankee Trails™ $5,000 gift card plus $1,000 spending cash).

Early Bird Prize - 4 tickets to this Live Nation® concert: Jason Aldean’s Ride All Night Tour with special guests Kane Brown and Carly Pearce on September 5th at SPAC (with VIP seating and $500 spending cash).

You’ll be automatically entered when you open a new Checking Account or Young Adult Checking Account with a $100 minimum deposit. You can open your account online or visit us at any of our 11 local branches.

Already have a Checking Account? Enter online for an equal chance of winning.

See details, share with friends or family, and enter at www.capcomfcu.org/livelife * LIVE LIFE VIP SWEEPSTAKES. ENDS 7/31/19 for VIP CONCERT TICKETS AND 8/31/19 FOR CRUISE VACATION. NO PURCHASE, TRANSACTION OR CHECKING ACCOUNT NECESSARY TO ENTER OR WIN. Open only to current legal residents of the states of CT, NY, MA and VT, 18 or older as of 7/1/19. A purchase, transaction or new Checking Account will not improve the chances of winning the prize. Void outside the states of CT, NY, MA and VT. See Official Rules for alternate entry method and complete details at: www.capcomfcu.org/livelife.

Noteworthy & New More Chances to Win – Through August How would you like to see Train & Goo Goo Dolls (7/26), Hootie & The Blowfish (8/4), or Lynyrd Skynyrd (8/31) perform – on us? Our Summer Concert Sweepstakes offers opportunities for you to win tickets to Live Nation® concerts at SPAC! Enter at www.capcomfcu.org/tix Popular Member Discount: Great Escape!

Enjoy reduced member pricing on Great Escape tickets.

Your discounted Single FunDay Ticket is $35.99 + tax/ fees; the Season Pass is $67.99 + tax/fees. To purchase tickets and see other member discounts, visit: www.capcomfcu.org/greatescape Thrill Seekers: Got Insurance?

If you own a boat, RV, motorcycle, or other toys, turn to CAP COM Insurance Services for coverage at an affordable price. We offer travel insurance, too! For a quote, call (518) 641-6979 and speak with a licensed agent or visit: www.capcomfcu.org/quote

Members & Employees – YOU are the Best Being recognized for excellence by members and employees is a tremendous honor. You inspire us to keep reaching higher. Thank you for voting us the best!

COMING SOON! Consolidate Accounts with Ease Moving an account or your automated payments from one financial institution to another is a pain. There’s paperwork, signatures, so many steps! In the coming weeks, we’ll debut a simple way for you to shift accounts.

Traveling this Summer? Let us Know.

If you plan to travel, you can submit a notification so we don’t suspect fraud on your credit card: 1. Log into your Connect-24 account.

2. From your list of accounts, click VISA. 3. On the top menu bar, click Customer Service.

4. Under Contact Us, click “Set a travel notification.”

Locate Free and Low-Fee ATMs* Use our ATM locator at www.capcomfcu.org/atms

*After 10 withdrawals made in one month from any combination of CO-OP or Stewart’s Shops ATMs, a 50-cent surcharge per withdrawal applies. $2.50 ATM fee is charged by Stewart’s Shops. CAP COM will make a $1.50 reimbursement deposit for each Stewart’s Shops ATM withdrawal within 24 hours.

4 Ways to Save

Here’s an Easy Way to Grow the Green It’s amazing how effortlessly you can build your savings when you put it on autopilot. Save a little over time and you won’t even feel the pinch!

Save a portion of your paycheck. If your employer offers direct deposit, you can transmit a portion of your paycheck to any CAP COM account you like. Include the account’s MICR number on the form from your employer.

You can find the MICR number by logging in to online banking, selecting the account, and clicking “Account Details.”

More at www.capcomfcu.org/micr

How to Pay for Tuition & Save at Tax Time

FIGHT FRAUD 2 Simple Steps You Can Take Now

We make a great team! CAP COM guards your accounts and sensitive data with online protections, fraud monitoring around the clock, and surveillance by CAP COM security professionals. You can do your part by staying informed and closely monitoring your accounts.

1.

Check your credit report.

Get your free credit reports and check for discrepancies and identity fraud. You’re entitled to one free report from the major credit bureaus per year. Get yours at www.annualcreditreport.com

2.

Get real-time account alerts.

Monitor activity on your CAP COM accounts and cards to keep them safe.

Account Alerts Log in to your account to set alerts for big withdrawals, low balances, and more.

Debit Card Controls www.capcomfcu.org/cardcontrols

Credit Card Alerts www.capcomfcu.org/cardalerts

As education costs soar, families are seeking relief. Are you familiar with the excellent tax benefits offered by 529 plans? As you save, your earnings grow federally tax-deferred and NYS offers an annual tax deduction.

Consult a tax advisor for details about tax benefits.

Learn more and let us help: www.capcomfcu.org/529 Try out our college savings calculators at www.capcomfcu.org/collegecalc CAP COM Financial Services - Securities and annuities products offered through LPL Financial and its affiliates; Member FINRA/SIPC, 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 and insurance services offered through CAP COM Financial Services, LLC, a Registered Investment Advisor.

Not NCUA insured | No credit union guarantee | May lose value

STAR Rebate Change Did you know you could be eligible for a greater STAR benefit if you sign up to receive a check instead of a rebate?

Changes to the STAR program are worth a look. If you missed communications from the New York State Department of Taxation and Finance, learn more at www.capcomfcu.org/star

House Hunting? Let Us Guide You Home.

If you’re ready to buy a house – or you want to, but you’re not quite sure where to start – let’s talk. The team at Homebuyers Advantage, a subsidiary of CAP COM, can help you understand the steps to buy a house and pay for it. We can look for ways to cover the cash you need up front and locate affordable mortgage solutions to match your needs and budget. Enjoy house hunting while we manage the details until you have your keys!

Learn more: www.capcomfcu.org/homes Use our mortgage calculators: www.capcomfcu.org/calculators

Purchases & Perks 5

UPDATE YOUR LIVING SPACES

Homeowners, do you find yourself daydreaming about ways to enhance your living spaces? Maybe you’d love to renovate your kitchen or bath, add a new patio or deck, or invest in professional landscaping – how can you pay for it?

One solution to consider is a Home Equity Line of Credit (HELOC).

Once your credit line is approved, you can access cash as you need it! Use it alone or in combination with your savings. CAP COM even pays all your closing costs.* Lock in a fixed rate while rates are low and a dependable, budget-friendly, monthly payment.

Not just for home improvements. You can use your Home Equity Line of Credit for other purposes too. One popular use is paying for college tuition. Or, keep it at the ready for emergency expenses.

Explore Dos and Don’ts: www.capcomfcu.org/heloctips How much can you borrow? Use this handy calculator: www.capcomfcu.org/borrowcalc You could already be pre-approved for a HELOC. See the blue box at at the lower right corner of this page to learn more. *No closing costs on HELOCs up to $200,000. Discharge fees and overnight shipping charges are excluded where applicable. If the HELOC is paid and closed within 3 years of the closing date, there is a recapture fee in which you will have to reimburse the Credit Union for all closing costs paid on your behalf.

Joint Credit Card Holders & Loan Applicants, Please Note Loan Applicants. CAP COM FCU has revised its membership eligibility process. To be considered a CAP COM member, you must be named as primary owner on your own account. If you are named as a joint owner of a joint account, that’s no longer sufficient to establish membership.

When you apply for a loan, either as the primary borrower or a co-borrower, and you do not have an account naming you as the primary owner, you must establish an account in your name.

You can open an account online or at a branch.

Credit Cardholders. If you’re not listed as the primary CAP COM Credit Cardholderand the primary cardholder closes the account or passes away, your card will be discontinued. To avoid this and establish your own credit, you might want to apply for a credit card in your name.

Compare card options and apply: www.capcomfcu.org/compare

Car Deals All Year If you’re in the market for a vehicle, begin your search at CAP COM! Enjoy reduced member pricing on new and used vehicles, thanks to CAP COM’s preferred dealer network.

You can even shop by the payment you can afford by using the Finance Calculator (under Resources).

When it’s time to line up a loan and insurance, put us to work – no matter where you buy your car!

Browse deals: www.capcomcars.org You could already be pre-approved for a Car Loan. See the blue box at at the right to learn more.

SKIP THE USUAL APPLICATION. YOU COULD ALREADY BE PRE-APPROVED! Our LoanXpress service offers fast-track loans and credit cards for qualified members.

To see if you are preapproved (and can skip the usual application), log in to Connect-24 Online Banking. Then from the menu, click LoanXpress. If not, you can click the “Apply Now” button or call (800) 634-2340 for help.

6 Financial Solutions for Businesses

How can we help your business succeed? If you own or run a business, turn to our Business Services team for cost-effective financial solutions and support from advocates who make your success their priority.

Efficient Funding Obtain credit quickly with excellent terms. Whether you’re seeking a new source of liquidity, funding for vehicles or equipment, or financing for an expansion or real estate project, let us help.

YOUR BUSINESS ADVOCATE Businesses are the bedrock of the Capital Region. When you flourish, we all benefit!

Merchant & Deposit Capabilities Choose services to streamline your operations, including credit and debit card processing, after-hours coin and currency deposits, and leasing/purchasing a scanner to deposit checks remotely.

Interest-Bearing Accounts Take advantage of yields that are among the best in the Capital Region. Build liquid savings with the Business Money Market Account or secure a Certificate with a favorable rate.

Business Checking Select a checking account that is right-sized for your business, legal firm, or non-profit. Features include low or no fees, VISA® Debit Card, and online Bill Pay. ACH credit and debit capabilities and wire access are also available.

New! Business Checking for High-Volume Businesses

“Extraordinary, beyond anything I’ve experienced in banking...”

Does your business process a large number of transactions and maintain a high account balance? If so, our new Business Analyzed Checking Account could reduce your banking expenses. Features include reduced per-item fees and an earnings credit to offset fees.

See account details: www.capcomfcu.org/bizchecking

“The time and effort I save using CAP COM’s Business Services has been transformative. Without stepping into a branch, I can effortlessly manage my finances from my online account dashboard, scan check deposits, and pay bills whenever I want. The personal attention is also extraordinary, beyond anything I’ve experienced in banking as a business owner.”

Expense Reduction Do you suspect you’re overpaying for business financial services? Let’s find out. For a complimentary cost analysis, call (800) 468-5500 ext. 2948.

Debra Best, SPHR, SHRM-SCP Owner, Deb Best Practices

Financial Planning 7

WHAT DOES FINANCIAL INDEPENDENCE MEAN TO YOU?

Enjoying life in retirement?

How you answer that question is unique and so is your journey.

More quality time with family?

Traveling the world?

Making a plan that’s doable?

Paying off debt?

Together, let’s create your Road Map to Financial Independence.

Call (518) 782-0209, and we’ll match you with a financial advisor and schedule your first meeting. Because your advisor is not paid on commission, you enjoy objective, no-pressure guidance.

Get to know our team at www.capcomfinancial.com/team

Securities and annuities products offered through LPL Financial and its affiliates, Member FINRA/SIPC. CAP COM Financial Services is a division of CAP COM Federal Credit Union. CAP COM Financial Services and CAP COM FCU are not registered broker dealers and are not affiliated with LPL Financial. Financial planning and insurance services offered through CAP COM Financial Services, LLC a Registered Investment Advisor.

Not NCUA Insured

May Lose Value

No Credit Union Guarantee

PRSRT STD U.S. Postage PAID Albany, NY Permit #186 4 Winners Circle Albany, NY 12205

“It made me think about my future life and how I’ll have to spend money wisely.

My dad said it was the best school activity I’ve ever done.”

Scholarship & Award Winners We recently celebrated our community’s best and brightest by awarding $78,500 in college scholarships and awards.

Alexis H. of Albany (here with her mother) was one of 31 scholarship winners honored at a recent breakfast.

–Student participant at the Financial Reality Fair

BIG Benefit Raffle Winners

Financial Literacy for Life What does it take to make smart financial decisions in your life? A financial workshop can be a real eyeopener for young people who are about to leave the nest.

“A wake-up call” is how one student who attended our Financial Reality Fair described it. Another said it was “Helpful and cool...and would recommend it to others.”

Delivered to local schools, the Financial Reality Fair presents a series of financial-literacy exercises.

Each student chooses an occupation, researches the salary, and manages living expenses on their “paycheck.” As they complete their budgets, students receive

coaching from credit union volunteers. A final review by a CAP COM financial counselor is their reality check!

Understanding how to manage expenses provides clear advantages when these young adults step out on their own. This knowledge also helps avoid costly mistakes!

Because financial literacy offers lifetime benefits, we want to make sure young people start out on the right foot.

To learn more about the community outreach efforts of CAP COM and its CAP COM Cares Foundation, visit: www.capcomfcu.org/community

Witnessing five year-old Carlie Santiago of Amsterdam test drive her custom-built stroller reminds us that wishes really do come true.

Thanks to your generosity, CAP COM granted $26,000 to six BIG Benefit raffle winners and donated $10,000 to Make-A-Wish Northeast New York.

Carlie S. checks out the features of the stroller made especially for her, courtesy of CAP COM and Make-A-Wish Northeast New York.

Help us Make a Difference. Join CAP COM Cares!

Help us reach thousands of local individuals and families in need right here in the Capital Region.

You can support CAP COM Cares with a one-time donation or become a sustaining Patron for as little as $10 per month! Learn more and join the cause at: www.capcomfcu.org/give