VOLUME 12 ISSUE 3
S H A R I N G T H E R E W A R D S O F M E M B E R S H I P
Want More For Your Money? FREE Interior FCU
Bring It All To Interior FCU! Membership – The Perfect
New 14-month Share Certificate at 5.83% APY* Holiday Gift
Only $500 to open
From now until
Stop by or call 1-800-914-8619 November 30, 2006, we’re
*Annual Percentage Yield. offering FREE lifetime
membership to any eligible
person you refer to the
Security Improvements Coming Credit Union! When that person joins the Credit
Union, we’ll pay a $25 deposit into their share
To Our Online Services savings account to start their membership.*
Refer your immediate family members,
household members, co-workers or volunteers,
To keep your financial information safe from identity so that they can take advantage of everything
thieves, Interior FCU is adding an extra layer of we offer, including:
protection to our online services such as Online ■ High yields on our savings/investments
Banking and Bill Pay. In the near future, we will
introduce a new log-in procedure which may ■ Low-cost credit cards, auto loans and home
require an additional validation of your identity loans
along with your Interior FCU account number and ■ Free or low-cost services such as Online
password. More information about the new log-in Banking, Bill Pay or Direct Deposit,
procedure will appear in future issues of this newsletter. available 24/7
This new log-in procedure will protect your accounts from unauthorized access by ■ Over 20,000 surcharge-free ATMs
being able to not only recognize your password, but your computer as well. If we
For more details or to apply for membership,
do not recognize your computer – for example, if you’ve logged in from a public
stop by, call 1-800-914-8619 or visit us
computer or a computer that you have not used before – we’ll ask you for
online at www.doifcu.org.
information that only you would know in order to protect your privacy. This way,
you’ll be protected with any computer you’re using and you can easily do your *Limited-time offer. The $25 will be deposited into the new member’s share
savings account when we receive the completed application. If the account
banking anytime and anywhere. is closed within six months of opening, the $25 deposit will be forfeited.
If you’re not using Online Banking or Bill Pay* yet, why not give them a try to see
how much time they can save you? Both are secure, easy to use and available
24/7 from a home or office computer with an Internet connection. You can
In This Issue ...
transfer funds from one account to another, confirm that checks have cleared and Electronic Check Conversion 2
pay bills! Holiday Club Account 2
Kids’ Corner 2
For more details about Online Banking or Bill Pay, visit us online at
www.interiorfcu.org. Nominees For The 2007 Board Of Directors 3
Current Rates & Holiday Closings 4
*There is no charge for using Online Banking. Bill Pay requires a small monthly fee of $3.45 per month, after the first two
months of Bill Pay use.
Electronic Check Conversion Our Holiday Club Account Helps You
Shortens Check Processing Time Easily Save For Holiday Expenses
The use of electronic check conversion is We have a great way to help you put money aside for the
growing at many merchants. In this type of holidays: the Interior FCU Holiday Club Account. Set up this
check processing, the merchant runs your interest-earning account with just $10 and make regular deposits
personal check through a machine and throughout the year. By the following October, what you have
you get back the voided check with a saved will be automatically transferred into your savings account
receipt. Electronic check conversion is or another account you select. To make saving even easier, sign
especially popular for both merchants and up for Interior FCU’s convenient Direct Deposit service so that
utility companies, because it saves them time funds can be easily moved into your Holiday Club Account!
and money and offers more security than
Your account renews automatically (unless you notify us
conventional check processing.
otherwise), so you can use it to save year after year! To start a
Holiday Club Account or to sign up for Direct Deposit, stop by, call
With electronic check conversion, an electronic payment is debited
1-800-914-8619 or visit us online at www.doifcu.org.
from your account for the amount written on the check. This method
of processing a check also has several benefits for you, including
more privacy, easier recordkeeping and faster fraud detection. If you already have an Interior FCU
Electronic check conversion is also faster than conventional check Holiday Club Account, your funds will be available after
processing, so please be sure that there are sufficient funds in your October 1st.
checking account to cover any check you write.
Money And Its Nicknames
Throughout its history, money has had a variety of nicknames. Looneys and twoneys – Nicknames for one-dollar and two-
Here are some examples: dollar coins used in Canada. The one-dollar Canadian coin has
an image of a loon (an aquatic bird) on the reverse side of the
Bit – A small coin equal to one-eighth of a dollar. The phrase
coin. The “twoney” comes from putting together the word
“two bits, four bits, six bits, a dollar” originated from this term.
“two” with the letters “ney.”
Buck – Nickname for a dollar. This word developed because
early Americans often traded buckskins for money, and the The looney coin has been lucky for Canadian ice hockey teams.
word is still used today. During one Winter Olympics, this coin was secretly buried by
Quid – Another name for the pound, used in areas such as Canadian hockey fans underneath the center ice in the arena
England, Scotland and Wales. where the hockey tournament was held to give luck to the
Canadian teams. Both the men’s and women’s hockey teams
from Canada won gold medals that year!
What Did People Use For Money In The Past?
In many areas where money was not available or in regular use, people used other
products instead of coins and bills to get food and other items they needed:
➤ Animal pelts ➤ Iron nails ➤ Sword blades
➤ Cocoa beans ➤ Salt ➤ Tobacco
➤ Grain ➤ Shells ➤ Wampum beads
➤ Gunpowder ➤ Sugar ➤ Whales’ teeth
Sources: “A History of Money From Ancient Times T The Present Day” by Glyn Davies, and www.usmint.gov.
Nominees For The 2007 Board Of Directors
The 2007 Election for Interior FCU’s Board of Directors will be held by mail Joy Pietschmann
ballot. The ballots will be mailed to all current members along with their Joy Pietschmann has been with the National Park Service for over 17 years
December 2006 statements, and they will arrive in January 2007. For this and is currently the Servicewide Volunteer Program Coordinator. She has
election cycle, there will be three vacancies for three-year terms. Vacancies been a member of Interior Federal Credit Union since coming to the
on the Board are open to any member of Interior FCU who is in good Washington office in April 1999. Throughout her years with the NPS, Joy has
standing with the Credit Union. Members who wish to be placed on the worked with volunteers in various capacities at the park and national levels.
ballot must do so through a Nomination by Petition. A petition must be Her duties managing the Volunteers-In-Parks (VIP) program include writing
signed by 1% of the Credit Union membership (at least 100 members). A program policy, allocating funds, and advocating the program and its
brief biography and statement of qualifications, as well as a signed 137,000 volunteers. Currently, Joy serves as the Chairperson for the Federal
statement indicating the nominee’s willingness to serve if elected, must also Interagency Team on Volunteerism (FITV), whose nine member agencies
accompany the petition. Nominations by petition must be filed by 3 pm on represent three departments including Interior, Agriculture and Defense. In
December 8, 2006 and should be addressed to the Chairman of the conjunction with National Public Lands Day 2004, she assisted Interior FCU
Nominating Committee and delivered to the Credit Union in Room 4045 of with providing feedback and gaining support in rolling out the membership
the Main Interior building. drive for volunteers of the Department of the Interior. Joy has a B.A. in
Political Science with a concentration in international relations and a minor in
Bing Topper French from West Chester University, West Chester, Pennsylvania.
Mr. Topper has been a member of Interior Federal Credit Union for over 21
years and has been on the Board of Directors since 1997. Mr. Topper is Loren Thompson
currently serving as the Credit Union’s Treasurer, an office he has held Mr. Thompson is an attorney and works in the Minerals Management
during the Credit Union’s phenomenal growth in assets from less than $40 Service as an Appeals Analyst, deciding oil and gas disputes. He has been
million in 1998 to more than $83 million today. Prior to serving on the an Interior FCU member for 14 years and has served on the Board of
Board, he served as the chairman of the Credit Committee. Mr. Topper is Directors since 2001. Mr. Thompson graduated from Colorado College with
currently working as a consultant for the Department of the Interior’s Office a degree in business and an emphasis in accounting, and then moved east
of Budget. From 1981 until his retirement from federal service in January where he received a law degree from Georgetown. After working two years
2006, Mr. Topper worked in the Office of Budget, where he served as the for the Attorney General in Santa Fe, NM, he returned to Washington and
budget officer for the Office of the Secretary beginning in 1992. Altogether, worked for four years in the Interior Solicitor’s Office. He currently
Mr. Topper worked in the budget field for over 31 years, including 6 years volunteers as a mediator in a program that provides government-wide
with the Department of the Navy. Prior to government civil service, Mr. mediation services for agencies. Mr. Thompson formerly received an
Topper managed the main office of the Annapolis Banking and Trust Co. He appointment as a Special Assistant United States Attorney, working as a
is an Air Force veteran and graduated from Kutztown University with a prosecutor in the District of Columbia Superior Court System. He has spent
degree in economics. time in Thailand working in a refugee camp and traveled to Nagapattinam,
India, where he helped organize and finance the repair and outfitting of a
John W. Nyce 1,400-child school destroyed by the 2005 tsunami. He lives in Annandale,
John W. Nyce is the Assistant Director for Administrative Operations in the VA, with his wife, four children and foster kids.
National Business Center. He has over 30 years of experience in the
Federal government, with the last 7 years at the Department of the Interior. Peter J. Probst
His work experience includes being the NBC procurement chief responsible Peter J. Probst has volunteered on the Credit Committee of Interior Federal
for management of an acquisition organization that awarded over a billion Credit Union since 2004. He also currently serves on the Credit Union’s
dollars in contracts a year, and he currently is the director of the Technology Committee. Peter has an M.B.A. in finance and a strong
Administrative Operations Directorate, with management oversight background in technology. Peter successfully uses his knowledge of
responsibilities for an organization consisting of over 200 employees technology to implement simple yet elegant solutions to complex problems.
nationwide, budget formulation and execution of a multimillion-dollar budget At DOI, Peter has worked on a variety of budget and planning issues at both
across over 60 individual directorate accounts annually, and the delivery of the department and bureau levels. Peter has also worked as a member
a large array of products and services to both DOI and over 100 outside service representative at another large federal credit union. His priorities for
Federal agencies. John has an M.B.A. degree from George Washington Interior Federal Credit Union include maintaining the soundness of existing
University with a major in finance and investments, and a B.S. degree from Credit Union policies, expanding the financial services offered to Credit
Penn State University with a major in business. He is a Director on his Union members and improving the quality of customer service. Having been
homeowner’s association and is active in the local Penn State University a member of various credit unions for 14 years, Peter understands the value
alumni association. John is a member of Interior Federal Credit Union and of Credit Union services and the importance that the Credit Union plays in
shares the desires of the other members of the Credit Union Board to each member’s life.
ensure the soundness of the Credit Union while expanding the financial
services available to the employees, family members and the associates of
Current Loan Terms
The following rates are effective October 1, 2006 and are subject to change without notice.
For updated information, inquire at any branch office or contact 1-800-914-8619. Share
Rate The following rates were paid for the period of
July 1, 2006 through September 30, 2006.
5/30 First Mortgage - 80% (1) $417,000 360 (2) 6.15%
REGULAR SHARES APY*
5/30 First Mortgage - 90% (1) $417,000 360 (2) 6.40% $25 - $1,499 1.01%
Home Equity Line of Credit - 80% (1) $250,000 240 7.75% variable $1,500 and up 1.61%
Home Equity Line of Credit - 90% (1) $250,000 240 8.00% variable SHARE DRAFT CHECKING
Up to $1,499 .51%
Home Equity Loan (1) 8.25%
$50,000 120 $1,500 and up 1.01%
2nd Trust Fixed Rate
Vacation Club 1.11%
Residence Call PHH Credit Union Services Holiday Club 1.11%
1st Trust 2nd Trust 877-651-4334 (toll-free) for details
INDIVIDUAL RETIREMENT ACCOUNTS**
New Vehicle* No Limit Up to 60 6.00% 5.75% IRA Savings 2.27%
(85% Financed) 72 6.25% 6.00%
84 6.50% 6.25% Rates Effective October 1, 2006
New Vehicle* No Limit 60 6.25% 6.00% MONEY MARKET ACCOUNTS**
(100% Financed) 72 6.70% 6.45% Account Balance
84 7.00% 6.75% $1,000 - $4,999.99 2.02%
Used Vehicle* $5,000 - $9,999.99 2.27%
(NADA Retail Value) (3) Up to 60 6.40% 6.15% $10,000 - $24,999.99 3.03%
(NADA Wholesale Value) (3) Up to 60 6.30% 6.05% $25,000 - $49,999.99 4.06%
Used Vehicle* (4) 48 7.00% 6.75% $50,000 - $74,999.99 4.37%
(With Negative Equity) $75,000 - $99,999 4.58%
Recreational & Boat Loan No Limit 144 8.95% 8.70% $100,000+ 4.84%
SHARE CERTIFICATES** (including IRA Certificates)
Signature $20,000 12-24 Months 11.55% 11.30% 6 months - $500 min. 5.27%
36-60 Months 11.75% 11.50%
12 months - $500 min. 5.30%
Debt Consolidation $20,000 60 13.75% 13.50% 14 months - $500 min. 5.83%
2 years - $500 min. 5.51%
Line of Credit $10,000 (5) 11.50% 11.25% 3 years - $500 min. 5.61%
Fixed Rate Fixed Rate
4 years - $500 min. 5.72%
Visa Classic (Rewards) $10,000 (5) 11.90%
Visa Gold (No Annual Fee) $15,000 (5) 7.90% *Annual Percentage Yield
Visa Platinum (Rewards) $20,000 (5) 9.90% **Call 1-800-914-8619 for current rates.
Dividends on regular share, share draft checking, club accounts and
Share Secured Rate Available Up to Call for rates money market accounts are computed on a day-in/day-out basis and
Share 60 are compounded quarterly. Early withdrawal penalties may be imposed.
Balance Months Individual Retirement Accounts are compounded monthly. Dividends
are declared by the Board of Directors and are subject to change.
Please call for current rates. Fees may reduce earnings.
KEY: (1) Primary residence in MD, VA, DC, WV.
(2) 5-year balloon; 30-year payment amortization.
(3) Lower of cost or NADA value.
(4) 100% of auto loan up to 48 months. Board of Directors
(5) Variable based on amount. David Holland, Chairman
Charles Towle, Vice Chairman
* For the above rates, the loan officer will have the authority to match the lower rate offered by a financial institution. The member may
be required to furnish proof of such rate and that rate cannot be less than 4.90%. Bernard (Bing) Topper, Treasurer
Federal regulations prohibit the payment of dividends in excess of available earnings. Tommy Tomsan, Secretary
+Rate reflects 1/4% discount if member has an Interior FCU checking account, direct deposit and Visa Check or ATM card. Glenda Owens
Terms set by Board of Directors 8-12-06. The minimum loan payment is $30.00 per month. Paula Johnston
Money Matters is published as a service for the members of Interior Federal Credit Union. The articles and opinions in this publication Loren Thompson
are for general information only and are not intended to provide specific advice or recommendations for any individual. Please consult
your attorney, accountant, financial adviser or tax adviser with regard to your individual situation.
Gladys Battle, Chairperson
Rene Amacker, Secretary
Interior Federal Credit Union Locations Michael Lucero
DC: 1849 C Street, NW VA: 12201 Sunrise Valley Dr. Robert Quint
Room 4045 Kenneth Dalton
Washington, DC 20240 Reston, VA 20192
Phone: 202-208-3936 Phone: 703-648-7544
Fax: 202-219-9326 Fax: 703-648-7260 HOLIDAY CLOSINGS
firstname.lastname@example.org • 1-800-914-8619 • www.doifcu.org Columbus Day – October 9
Veterans Day – November 10
Thanksgiving – November 23
Printed on Christmas – December 25
Recycled Paper New Year’s – January 1, 2007