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					                                                                                                                         Spring 2011

    Winthrop Federal Credit Union brings you

      Extra Credit                                                                                   WFCU
                                                                                                      Winthrop Federal Credit Union

From the Desk of the President/CEO
Financial Fitness During Hard Times

                             The economy remains unstable no matter what the government does to convince
                         us that things are improving. The housing market has not rebounded and most activity
                         is due mostly through foreclosure sales, despite low values and low mortgage rates. Oil
                         and gasoline prices are rising fast and we have yet to realize the impact of the unrest in
                         the Middle East. The energy prices will hurt almost every sector of the economy if prices
                         remain high.
                           What can we do as individuals to deal with this? Is it possible to maintain financial fit-
                         ness when times are hard? The answer is YES, but you have to be prepared to work for it.
Joseph M. Clark
President/CEO               First, get your costs under control and work within a realistic budget. Then I would
                         recommend that you take a look at your credit score. This is where you can best con-
                         trol the rates you pay on loans, insurance and even your ability to rent or buy. It is so
                         important to maintain a good credit score. In the past, loan rates were higher if your
                         credit score was sub-par. In the future, it may be impossible to even get a loan without a
Hours of                 favorable score. New regulations make home buying with credit scores below 660 nearly
Operations:              impossible. Paying your bills on time is the best way to keep your credit score from de-
WFCU Headquarters
                         teriorating. Don’t run up large balances on credit cards. If you pay the minimum on the
15 Woodside Ave
                         cards, it can take about thirty years to clear up the balances.
Winthrop MA, 02152
                           Now, separate your ‘wants’ from your ‘needs’. You must take care of your absolute
Mon., Tues., Wed., Fri   needs, but wait until you can reasonably afford the wants. That will require savings to
8 am to 4 pm
                         pay for the wants instead of putting them on a credit card.
8 am to 7 pm                Lastly, plan a budget that is workable and realistic. This is not a doomsday scenario; it
Saturday                 is managing your resources to help put you in a better financial situation. This will allow
9 am to 12:30 pm         you to use your money in a more productive way.
Closed Sunday
                            Most people know they must diet and exercise to become healthy. It is no different
                         for sound financial health: you must “trim” your expenses and “exercise” a healthy saving

                         Abandoned Property Owners - Final Warning
                            If you have an inactive account at the Credit Union (no activity for 3 consecutive
                         years) please make a transaction by October 1, 2011. This transaction will change the
                         status of your account from dormant to active this way avoiding abandoned funds to
                         be turned over to the Commonwealth of Massachusetts.

    Winthrop Federal Credit Union. Guiding you Every Step of the way.                                                                 1
    Spring 2011

Could a Second Chance Car Loan Save your Car and Money?
                                       Yes and that is why we are here. If you like your car but hate its hefty
                                    payments, there’s a chance WFCU can save you money if you bought a car
                                    through another financial institution
                                       In today’s tough economic times everyone is looking to save money…
                                    Save hundreds at Winthrop Federal Credit Union by transferring your auto
John A. Clark
                                    loan or personal loan to us and we will take 2%* off your current loan rate.
Memorial Scholarship
                                    We will refinance your loan up to 72 months.
In Memory of John A. Clark
                                      For more information please contact the credit union or visit our website
                           to apply online.
                                        * Promotional floor rate 2.00% Annual Percentage Rate. Certain restrictions may apply. Refinance only applies to
                                    loans currently with other financial institutions. Loans currently with Winthrop Federal Credit Union are excluded from this
                                    promotion. Real Estate loans are also excluded from this promotion. Limited Time offer. Offer may expire without notice.

                                    Home Equity Lines
                                    Peace of mind for when you need it!
                                       Put the equity you built in your home to work for you and your family. You
                                    could do several things with your WFCU Home Equity Line of Credit: remodel
June 16, 1917 - March 12, 1989
                                    your home, pay for college tuition, consolidate debt or simply be available
Attention                           for peace of mind. Your home’s equity can allow you to do this at an interest
High School Seniors                 rate that is typically lower than other loans. What’s more, we don’t charge an
Applications are being accepted     annual fee and the interest may be tax-deductible.*
for the John A. Clark Scholarship       * Visit and your state’s department of revenue for more information on deductibility.
Award. Please submit a 2 page
essay describing your academic,         Prime Rate published in The Wall Street Journal. Rate can change monthly. Minimum rate 5% Annual Percentage
leadership, and civic involvement   Rate (APR). Maximum APR is 18%. Please refer to DCU’s Early Federal Disclosure, available in any branch or by email
by Thursday May 31, 2011.           request, for more information.
                                        Borrow up to 80% of your home’s value minus your first mortgage balance. Line access is available up to 10 years,
One deserving senior, who is
a member of the credit union,       minimum draw required.
will receive a scholarship in the
amount of $500.00.
Please mail your application to:
Winthrop Federal Credit Union,
                                    Your Mastercard Debit Card: Choosing Debit or Credit
15 Woodside Ave,
Winthrop, MA 02152                  You’re at the checkout, you hand the cashier your debit card, and she asks
Attention: Jack Jaques              if you want to use credit or debit. Both will result in funds being withdrawn
or e-mail:                          from your checking account, both include fraud protection, and you can
                                    track both online through WFCU’s iAccount.
                                       If you opt for credit, you are asked to sign your name just like a credit card
                                    transaction and it may take a couple of days for the transaction to process
                                    through your account. Remember, you get unlimited credit transactions per
                                    month with a daily aggregate limit of $1500.
                                       If you opt for debit, you are asked to enter your PIN (personal identifica-
                                    tion number) and no signature is needed. Funds are immediately withdrawn
                                    from your checking account, as if you had taken cash out of an ATM. Re-
                                    member, you are limited to 15 free debit transactions per month, including
                                    ATM cash withdrawals, with a daily aggregate limit of $500.

2                                            Winthrop Federal Credit Union. Guiding you Every Step of the way.
                                                                                      Spring 2011

 $aving Tips for your Kids
   1. Save at least some of the money you get from doing chores,
      and from allowance and gifts. Saving just 25¢ of every dollar you
      get will add up.
   2. Make one or more savings goals and stick to them.
   3. Learn to keep a budget, which is a record of how much money you
      receive and how you spend it.
   4. Spend your money wisely so you always have some to save.
   5. Keep your money safe by putting it in a share savings account at
      your credit union.
   6. Help your money grow faster by keeping it in your share savings
      account. The credit union gives you extra money-called dividends-
      for keeping your money there.
   7. Try to make a deposit in your share savings account every month.

 The Campus Account
   If you are a college student you are eligible to apply for a Campus
 Account. The list of benefits is long... check it out:

                                                                                   Closing Dates
   » Free iAccount web banking... 24 hours a day, 7 days a week           WFCU will be closed on the
                                                                                following holiday:
   » Free EZ Payer Electronic Bill Paying Services (via phone or PC)
                                                                                      Memorial Day
   » Free Checking! (No per check charges or minimum balance                          May 30, 2011
                                                                                         4th of July
   » Free checks
   » Free Members Check Card (ATM/debit card)
   » No annual fee and low rate VISA Classic Card (co-signer necessary)
   » 15 Free ATM transaction per month at surcharge free SUM or ATMs
   » Free and unlimited ATM transactions at the WFCU ATM
   » Discounted auto loan rates (1/2 point)
   » Additional dividend earnings on term certificates (1/4 point)

   * Annual proof of college enrollment is required to receive this
 package. Subject to approval. Offer good for a limited time only.

Winthrop Federal Credit Union. Guiding you Every Step of the way.                                  3
    Spring 2011

Winthrop Federal Credit Union and La Siesta
                                     Come CELEBRATE Cinco de Mayo          8, 20011 Mother’s Day which will end
                                  with The Winthrop Federal Credit         the week of celebration. What can be
                                  Union and LaSiesta Restaurant where      better than ending these festivities
                                  you can get the best Authentic Mexi-     with FAMILY on Mother’s Day at LaSi-
                                  can Cuisine. The celebration will be-    esta with great food and live music?
                                  gin on Monday May 2, 2011. There            The Winthrop Federal Credit Union
                                  will be events held throughout the       takes PRIDE in our involvement with
                                  week such as raffles, giveaways and a    the Community and encourages
                                  live Mariachi band. The Mariachi band    our Members to Support our local
                                  will perform on Thursday May 5, 2011     Merchants.
                                  (Cinco de Mayo) and on Sunday May

                                 WFCU invites you for our
                                 First Time Homebuyers Open House
                                    Don’t miss your opportunity to re-      » HECM – Reverse Mortgages
                                 ceive a free instant pre-approval and          (Available to members 62 and
Volunteers Needed
                                 to speak with any one of the profes-           older)
Winthrop Federal Credit          sionals including, Real Estate Agents,      WFCU Mortgage Lending Depart-
Union is looking for volun-      Real Estate Attorney and Mortgage
teers to serve on our Supervi-                                            ment also offers:
sory Committee. Applicants
                                 Loan Officers.                             » Jumbo Loans
must be a member of the credit     WFCU has the right mortgage              » Second/Vacation Homes
union. Experience in book-       program to fit your needs!
keeping, accounting, or audit-                                              » Cash-out Refinance
ing is helpful in carrying out     At WFCU you’ll find a great rate         » Investment Properties
your responsibilities for the    on Federally Secure Mortgage
audit and verifications of the
                                                                             We’ll help you find the right mort-
                                 Programs.                                gage, so you can find the right home
credit union’s operations. To
apply for the position of Su-      » FHA – Only 3.5% Dow                  on Saturday, May 21, 2011 at 1:00
pervisory Committee Member         » VA – No Down Payment and No          PM, at the Credit Union, 15 Wood-
please send your resume to:           Monthly Mortgage Insurance          side Ave, Winthrop, MA 02152.
                                   » 203K Rehab Programs                  This is a free seminar. Instant Pre Approvals offered
Winthrop Federal Credit Union,     » Rural Housing Program                at no charge.
15 Woodside Ave,
Winthrop, MA 02152
Attention: JoAnn Memmolo –
Compliance/BSA Officer           Annual Meeting
                                                                                Lost or Stolen Card?
                                    The Annual Meeting and Elec-
Or via e-mail to:                tion of Officers will take place on
                                 Wednesday, May 11, 2011. The An-                          617-329-3223
                                                                                     (during business hours) or
                                 nual Meeting will take place at the                       866-604-0381
                                 Winthrop Federal Credit Union, 15
                                                                                        Debit/ATM Card
                                 Woodside Ave, Winthrop, MA 02152
                                 at 6:15 PM. If you are interested in                  617-846-1226 ext. 223
                                                                                      (during business hours)
                                 serving on our Board or one of our                      or 888-849-6046
                                 committees, please submit your re-
                                 sume and letter of intent to wfcu@              Remember: Never write your
                                                         password on the card!

4                                      Winthrop Federal Credit Union. Guiding you Every Step of the way.

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