Auto Loans

Communications COMMUNICATING ARTS CREDIT UNION SPRING 2009 YOUTH SAVERS CD $ Auto Loans Special Rate Reduction May 1st through July 6th Discounts on qualifying rates* Rates starting as low as 3.99% TERMS UP TO 48 MONTHS - 2% discount off your qualifying rate* TERMS GREATER THAN 48 MONTHS - up to 60 months - 1% discount off your qualifying rate* NEW & USED VEHICLES Purchase or refinance of loan from another financial institution by your credit * qualifying rate determined combined withhistoryoffers. To receive rate discount, Rate discounts may not be other loans must be closed with Communicating Arts Credit Union and cannot be closed at dealerships. Help the younger people in your life grow their savings when you open a 12-month Youth Savers CD in their name. A Communicating Arts account helps your child learn the value of savings whether it’s saving for a bike, planning for a trip, or even just to feel independent. Developing a habit of saving and experiencing its rewards will serve them well in the years to come. It’s easy to do. Open an account in the child’s name with a $5 deposit to the Primary Savings. The certificate deposit may be from gifts for a newborn, graduation or birthday, or other savings. This special rate is available till June 30, 2009. Call, stop by, or visit us online at www.cacu.org to learn more. • Special 12-month Youth Savers CD earns 5% APY* • Each month the interest will be deposited in the child’s savings. • Certificates can be opened with as little as $250 (maximum $1000). • For any child under the age of 16 • Only one CD for each child. • The Youth Savers CD will not automatically renew at maturity. * APY – Annual Percentage Yield Communicating Arts Credit Union 1717 Western Avenue Cincinnati,Oh 45214 Tel: 513.381.3070 1.800.735.7929 Web: www.cacu.org P R ESIDE NT ’S ME SS AG E I welcome the opportunity to again speak directly with you, our memberowners. In these turbulent and challenging times, it’s important for you to know how your credit union is doing. Most important is our ownership structure - we are a cooperative, owned and directed by you, our members. We do not have a paid Board of Directors; we do not have stockholders who are focused on the value of their shares and the return on their investment. We aren’t a bank, a hedge fund, a multi-national financial services or insurance company. We are a credit union, built by and for our member-owners and focused on our member-owners and our local community. We operate in a conservative manner; after all, it’s your money. You entrust us with your savings and we use those funds to lend money to your fellow members, to help them with everything from buying a home or a car to paying tuition. Excess funds, over and above what we are able to lend and what is needed for daily operations, are conservatively invested, primarily in insured certificates of deposit and government-backed instruments. We do not make subprime mortgage loans, we do not invest in collateralized debt obligations, mortgage-backed securities, or other so-called exotic investments that have largely contributed to the current economic morass. As a group, America’s credit unions lead the financial services industry in safety and soundness, with high capital ratios, strong liquidity, and high-quality assets. Credit unions have been able to deal with and resolve our challenges without relying upon funds from the federal government. Your credit union is closely supervised by both the Ohio Division of Financial Institutions and American Share Insurance. You see Communicating Arts Credit Union’s strength reflected in the accompanying financial statement. Our 13% capital ratio is nearly double that required by our regulator to be considered well-capitalized. We purposefully managed to a nearly break-even result last year, transferring additional funds to our Allowance for Loan Losses in anticipation of expected losses, and paying a bonus dividend for the second consecutive year. It is business as usual at your credit union. We have money to lend and welcome the opportunity to meet your credit needs, whether it’s a mortgage, a vehicle, a personal loan, or a credit card. There aren’t any tricks to our programs - no “universal default” clauses on our credit cards, no automatic rate increases. We aren’t lowering lines of credit or otherwise restricting your access to credit. We’re developing additional programs to enhance convenience, encourage savings, and meet your borrowing needs. We invite you, your family members, and your eligible co-workers to take full advantage of the services available through your credit union. I welcome your comments, questions or suggestions either via email to cherring@cacu.org or telephone at 513-381-5888, ext. 113. Thank you for your membership, F I NA N C I A L S TATE ME N T Statements of Financial Condition December 31, 2008 and 2007 Assets Cash and cash equivalents Investments, held to maturity Investment in and Loan to CUSO Loans to members, net of allowance for loan losses Accrued Interest Receivable Property & Equipment ASI Deposit Other Assets Total Assets Liabilities and Members’ Equity Members’ Shares and Savings Accounts Accrued Expenses and Other Liabilities Total Liabilities Commitments and Contingent Liabilities Members’ Equity, Substantially Restricted Total Liabilities and Members’ Equity 2008 1,728,425 17,784,936 55,341 26,513,155 235,187 26,184 384,867 216,752 46,944,847 40,147,944 577,338 40,725,282 6,219,565 46,944,847 2007 4,391,783 15,212,838 36,181 24,448,237 256,414 42,411 368,281 165,258 44,921,403 38,269,339 507,590 38,776,929 6,144,474 44,921,403 Catherine Herring President/CEO Statements of Income for the Years Ended December 31, 2008 and 2007 Interest Income Interest and Fees on Loans Interest on Investments Total Interest Income Interest Expense Members’ Share and Savings Accounts Borrowed Funds Net Interest Income Provision for Loan Losses Net Interest Income After Provision For Loan Losses Non-Interest Income Insurance Commissions Income on investment in CUSO Income from fees and charges Total Non-Interest Income Non-Interest Expense General and Administrative Compensation and Benefits Occupancy Operations Education and Promotion Professional and Outside Services Other Total Non-Interest Expense Net Income 2008 1,971,900 746,098 2,717,998 1,061,047 64 1,656,887 289,700 1,367,187 3,761 54,464 767,095 825,320 2007 2,000,030 860,044 2,860,074 1,124,273 33 1,735,768 17,250 1,718,518 4,483 23,167 728,104 755,754 Statements of Member’s Equity for the Years Ended December 31, 2008 and 2007 Appropriated Regular Reserves 1,459,730 -1,459,730 -1,459,730 Unappropriated Earnings 4,206,212 478,532 4,684,744 75,091 4,759,835 Total 5,665,942 478,532 6,144,474 75,091 6,219,565 Balance at December 31, 2006 Net Income Balance at December 31, 2007 Net Income Balance at December 31, 2008 910,698 60,000 832,003 75,090 225,400 14,225 2,117,416 75,091 853,173 60,000 791,633 63,238 211,659 16,037 1,995,740 478,532 A copy of the audited financial statement with an unqualified opinion from Whitmer & Co. dated February 10, 2009 is available at the Credit Union office. Communicating Arts Credit Union 1717 Western Avenue Cincinnati,Oh 45214 Tel: 513.381.3070 Toll Free: 1.800.735.7929 Fax: 513.421.3508 OVERDRAFT PROTECTION A Communicating Arts checking account is a great tool for managing your family money and keeping track of expenses. But what are your options for making sure your payments are honored? • First, don’t put your account on auto-pilot. Keeping track of every deposit and payment can help to avoid overdrafts and the fees that accompany them. Use the Internet Branch to verify transactions and view holds from debit card transactions. Set-up eAlerts to receive timely information on transactions and balances. And, don’t forget the age-old practice of reconciling your account balance to periodic statements. • Keep a balance in your primary savings. Your Communicating Arts Checking account can be set-up to automatically transfer funds (at no cost) to checking to pay transactions. (Federal regulations limit the number of transfers that can occur to six/month.) • Apply for an Overdraft Protection Loan. This line of credit can provide for transfers in $100 increments to allow for payments authorized from your account. You can apply on-line, or send your application by mail or fax. • If your account qualifies for Courtesy Pay, the payment may be honored even if your available balance is not sufficient to cover the amount authorized. This can prevent a payment from being returned unpaid. There is no application required for Courtesy Pay but you may choose to opt-out of this service by providing this request in writing or through our secure Internet Branch Mail Center. We’re here to help. For more information about your Checking Account and Overdraft Protection options call us today. Why wait to have a credit card that meets new consumer-friendly Federal regulations? Last year the Federal Reserve approved a set of credit card rules that go into effect July 1, 2010. Congress is working on reforms that would restrict fees and charges, increase disclosure, and protect younger consumers. No need to wait to get these advantages. Communicating Arts has always provided our members with a credit card that offers convenience without exploitive interest rates and “gotcha” triggers. Visit us on-line for an application or to learn more about transferring a balance from another card. O U R M ISSIO N Communicating Arts Credit Union is a member-owned, not-for-profit financial institution. Our mission is to make available quality financial services at a reasonable cost to out members so as to provide for their financial needs, while insuring the long-term financial stability of the Credit Union. Discount Amusement Tickets Visit our web site, www.cacu.org, for a complete list of discount tickets for local venues when you’re planning your family outings. • Kings Island • Cincinnati Zoo and Botanical Garden • The Beach • Newport Aquarium • Coney Island • Cedar Point • Geauga Lake Transfer Your Bonus Dividend Your use of Communicating Arts Credit Union services produced a profit last year that is shared by its member/owners. Transfer your Bonus Dividend to your savings or money market to earn interest. Or, transfer to your checking and use the money. It belongs to you! Auto Attendant: 513.381.5888 Comm-Line: 513.381-8860 or 1.800.735.0246 E-mail: info@cacu.org Web Site / Internet Branch: www.cacu.org Communications COMMUNICATING ARTS CREDIT UNION Spring 2009 New Enhanced Bill PayOne Place, One Password, All Your Bills On May 13, 2009 we will upgrade our Internet Branch Bill Payment program to provide you with enhanced features: Review pending payments. View and track up to 6 months of payment history – see who you paid, the date and the amount Receive ebills (electronic version of your paper bills) from over 370 billers Eliminate the need for checks, stamps and trips to the mailbox. And best of all, Bill Pay is still a FREE Service. To view a quick Bill Pay demo use the link from the News page on our web site. Enrollment is quick and easy. Log-in to Internet Branch and click on the Bill Pay menu. Easy sign up and set up - sign up online, pay bills right away In most cases, payments will be made electronically and funds will be deducted on the date your payment is due. The user friendly Payment Center helps you manage all of your bill payment activity, from one convenient screen. Schedule payments in advance. Simply enter the date you want your payment to be sent, up to one year in advance. Many payments can be made the same day, or next day. New Enhanced Bill Pay Transfer Your Bonus Dividend Discount Amusement Tickets Overdraft Protection Financials President’s Message Youth Savers CD Auto Loans – Special Rate Reduction IN THIS ISSUE 1717 Western Avenue Cincinnati,Oh 45214 U.S. Postage PAID PRSRT STD Permit No. 6657 Cincinnati, OH