Lines of Communication | Summer 2020

LINES

Summer 2020

of Communication

COMMUNITY Our values in action: putting people first.

SHARE THE L VE

SHARE

Win $1,000. Give $1,000.

GUIDANCE

Love CAP COM? Tell family & friends.

Count on our experts to guide you forward.

Your Business Support Team During this challenging time, businesses are seeking support from every source they can find. If you think you might need to bridge a funding gap in the future, now is a good time to explore credit-qualified options.

• Business Line of Credit – access funds as needed • Business VISA® – low, fixed-rate credit card for purchases, advances • Refinance Existing Loans – reduce expenses, cash out • Guidance – connect with our experts for a business overview and financial solutions For assistance, contact our team at (800) 468-5500 ext. 2948 or commercial@capcomfcu.org.

“Tell us what you want to accomplish, so we can provide the right business solutions at the best price.”

Lee Carman Chief Lending Officer

President/CEO Message

When it comes to living a good life, few things are more important than our health and happiness. During this global health crisis, both are under strain – and we’re all feeling it.

Even during the best of times, the life you want to lead can feel out of reach. So, be sure to take advantage of every CAP COM benefit you can. Turn to our financial solutions, digital tools, education sessions, and professionals for guidance and friendly support.

“We’re rooting for you.” Those words of encouragement from a CAP COM employee to a member say it all. We strive to demonstrate our values every day – in our interactions with members, building an awardwinning workplace for employees, and reaching out to make a difference in our community.

And we’ll continue to develop financial services that help support your health and happiness – and make a real difference in your life. Thank you for inspiring us to keep rooting for you.

Christopher McKenna President/CEO

CALENDAR

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 Automated Phone Banking (800) 634-2340 (518) 458-2195 Headquarters VISIT Neighborhood Branches plus Shared Branches Across the U.S. www.capcomfcu.org/locations

JULY

AUGUST (continued)

Tuesday, July 21 Basics of Medicare Webinar

Monday, August 31 Share the Love entry deadline

Thursday, July 23 Retirement Bound Webinar Wednesday, July 29 BIG Benefit Raffle drawing

Monday, August 31 Great Grades report card submission deadline SEPTEMBER

AUGUST

Saturday, September 5 Monday, September 7 Closed for Labor Day

Thursday, August 27 Retirement Bound Webinar

Thursday, September 24 Retirement Bound Webinar

Let's Be Friends Join our growing community.

Federally insured by NCUA 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

SHARE THE L VE Win $1,000. Give $1,000.

There’s so much heartbreak in our world these days.

Let’s share a little love.

Enter our Share the Love Sweepstakes by August 31 for your chance to win $1,000 and give another $1,000 to your favorite local charity – on us.

Five winners will be chosen.* Visit www.capcomfcu.org/love for three ways to participate.

• Submit your entry in seconds.

• Get an automatic entry by opening a Checking Account with a $100 deposit (if you don’t already have one).

• Share the Love with friends and family so they can enter, too!

*Official Sweepstakes Rules: SWEEPSTAKES ENDS 8/31/20. 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 7/6/20. 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 at www.capcomfcu.org/love for alternate entry method and complete details.

IS A DOWN PAYMENT HOLDING YOU BACK? Saving for a down payment on a home or a car takes time and patience. Fortunately, home buyers and car buyers don’t need a substantial down payment (or one at all) on some of our loans. For the keys to your dream home or vehicle, choose from a variety of CAP COM loan options.

Mortgage solutions include:1 • Community Heroes Mortgage Program ($1,000+ value) U.S. Military (active duty or veterans) and select public service workers can receive special discounts toward their home purchase.

• 100% Financing Homebuyers with good credit can forgo a down payment while obtaining a low fixed- or adjustable-rate home loan.

• Homebuyer Dream Program Assistance If you’re a first-time homebuyer, you might be eligible for grants up to $15,000.

Ready for reliable transportation or an upgrade?

Gain control of your time and your life when you say goodbye to an unreliable vehicle or public transportation.

Choose CAP COM for your new or used car loan to take advantage of $0 down and no payments for 90 days!2 Shop and save online with our Carbuyers Express service. www.capcomfcu.org/90nopay Lower payments could be in your future.

Let us review your finances to see if we can save you money on your monthly auto, home, or other loan payments.

Call (800) 634-2340.

www.capcomfcu.org/mortgagetypes 1) Mortgage products are offered by our Mortgage Team, Homeowners Advantage (HOA), which is a 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. HOA is a Licensed Mortgage Banker - NYS Dept. of Financial Services. HOA NMLS Identifier: 290363. Principal Address: 4 Winners Circle, Albany, NY 12205. CAP COM FCU NMLS Identifier: 401261. 2) Some restrictions apply. Ask a representative for details.

To Live Your Best Life, Understand Your Options Here at CAP COM, you can keep more cash in your wallet with low-rate loans that allow you to live your best life starting today.

Need quick access to cash?

• Homeowners can borrow up to 100% of their home’s appraised value with a Home Equity Line of Credit (HELOC).

Unlike other lenders, CAP COM’s low-rate HELOC offers a draw period and comes with zero closing costs, no appraisal fee, and no mortgage tax!3 www.capcomfcu.org/zero • When you’re low on funds, use a Checking Line of Credit to guarantee that your check, debit, or automatic payments (ACH) will still be processed. www.capcomfcu.org/checkline • Your good credit could open the doors to a Personal Loan with flexible terms, no application fee, and fixed monthly payments. www.capcomfcu.org/myloan 3) Mortgages in New York State only. All Lines of Credit require a minimum initial advance of $5,000 and a minimum limit of $10,000. No closing costs on home equity lines of credits (HELOCs) up to $250,000. 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. Estimated recapture fee examples include $457 in closing costs and a maximum average of $2,475 in New York state mortgage tax for Albany, Schenectady, and Rensselaer counties. Actual closing costs and mortgage tax may be different. CAP COM FCU NMLS Identifier: 401261.

College: How to Afford It If college is in your child’s future, paying for it shouldn’t require a PhD. Start with our College Bound webcast

by Kim Donah, Certified College Funding Specialist (coming soon). Then, for a personal appointment with a team member, call (800) 634-2340 ext. 5579 – all free! www.capcomfcu.org/collegebound “Get answers to the top four questions collegebound students and families ask. Tune in to my new webcast!”

Kim Donah Certified College Funding Specialist

MONEY MANAGEMENT MADE SIMPLE Whether your goal is to save more money, pay down debt, maximize credit card rewards, or explore the benefits of touch-free payments — knowing where to begin is often the hardest part. Let CAP COM help you achieve your objectives and strengthen your finances with our easy-to-use apps and services.

• Keep track of income and expenses with a budgeting app.

Establish a budget, set financial goals, receive alerts, and more when you use CAP COM’s Money Management tool online or on your mobile device. www.capcomfcu.org/mybudgets • Build your emergency fund or prepare for a future vacation by putting your savings on autopilot. Schedule an auto-transfer of funds from your primary account into a CAP COM savings account to quickly and effortlessly meet your goals. www.capcomfcu.org/saveup • Get rewarded for your spending when you use your CAP COM Platinum VISA® card for everyday purchases. Earn one point for every $1 you spend. Redeem points for cash, gift cards, merchandise, or travel. www.capcomfcu.org/platinum • Add your CAP COM credit cards to your phone’s digital wallet to reduce fraud and the risk of COVID-19 transmission. Contactless payment terminals are safer and save time. Just tap your device to process the payment instead of entering or swiping your card. www.capcomfcu.org/wallet

CAP COM CARES ABOUT THE COMMUNITY CAP COM Federal Credit Union and its charitable giving arm, the CAP COM Cares Foundation, support local organizations dedicated to improving the lives of families in New York’s Capital Region.

Annual Scholarships CAP COM and the CAP COM Cares Foundation granted 43 scholarships and awards totaling more than $90,000 to students and educators.

This year’s scholarships included four new Trade Scholarships to members planning to attend or attending a trade school.

Congratulations to: Jasmine Gordon, Michael Palleschi, Adam Pangburn, and Joseph Riling.

We also awarded four new Reinvestment into Learning Scholarships, which assist members going back to school after the age of 26.

Congratulations to: Amanda Ellinger, Megan Sanzo, Melissa Shipley, and Alyssa May Vanderbilt.

Partner with us to make a difference in our community. Become a CAP COM Cares Foundation Patron with a one-time, monthly, or annual donation. Visit www.capcomfcu.org/patron to discover how to help.

“Education is the foundation of a better future, and it’s our responsibility and privilege to honor young adults and educators.”

Paige Rueckert Community Impact Manager

COVID-19 Community Assistance Earlier this year, CAP COM had the honor of supporting members of our community affected by COVID-19. In addition to the $450,000 in annual support from the CAP COM Cares Foundation, we donated: • $15,000 to St. Peter’s Health Partners, to purchase personal protective equipment (PPE) for the hospital’s frontline workers.

• $50,000 to the Regional Food Bank of Northeastern NY to help alleviate hunger needs in the Capital Region in the wake of the pandemic. The Regional Food Bank heavily depends on donations to meet the growing demand to feed children, seniors, and families.

NEED FINANCIAL GUIDANCE? Partner with an Advisor You need a financial partner you can trust. Whether you’re planning for retirement, setting up a college savings account, creating an estate plan, or navigating complicated tax matters, CAP COM Financial Services offers experienced, reliable resources to meet your needs.

RSVP for an upcoming Retirement Bound Webinar to learn about five crucial steps you can take now to achieve a secure and happy retirement. www.capcomfcu.org/rb During this one-hour virtual session, we’ll help you consider: • Your prospects for retirement and your anticipated timeframe • How much savings you’ll need to retire comfortably • How long your funds could last • Financial strains in retirement and how to prepare • The importance of an investment strategy Online attendees will also receive a Retirement Bound Checklist and Sample Income Plan so they can implement the lessons taught during the session.

“It is more important than ever now to make financial guidance more accessible. Members can call us to set up a virtual appointment or take advantage of several webinars.”

- Brian Tramontano Vice President, CAP COM Financial Services

You can also visit the CAP COM Financial Services, LLC blog at www.capcomfinancial.com/CCFSblog to learn how to strengthen your financial position during good or challenging times.

Talk with us!

Call CAP COM Financial Services at (518) 782-0209 and set up a meeting. Our LPL Financial Advisors are salaried, non-commissioned professionals who provide objective retirement, insurance, and estate planning for members.

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/ SIPC). Insurance products are offered through LPL or its licensed affiliates. CAP COM Federal Credit Union and CAP COM Financial Services, LLC are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using CAP COM Financial Services, LLC, and may also be employees of CAP COM Federal Credit Union. These products and services being offered through LPL or its affiliates, which are separate entities from, and not affiliates of CAP COM Federal Credit Union or CAP COM Financial Services. Securities and insurance offered through LPL or its affiliates are: Not Insured by NCUA or Any Other Government Agency

Not Credit Union Guaranteed

Not Credit Union Deposits or Obligations

May Lose Value