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					                      August 2007
                                                                   Financial News

    Patelco offers a variety of                                School starts soon. Start saving now.
    great Auto Loans for first                                 It’s that time of the year again and Patelco is ready to help out with our Student
    time buyers . . .                                          Starter package. Take advantage of one or all of these great offers exclusively for
    I didn’t know that!                                        Patelco Members:
    Are you just starting out in your                          1. Get a great rate on a computer loan and a great Dell computer through our
    financial life and want to buy                                   exclusive discount program with savings up to 12% off Dell Home regular
    your first car but are worried                                   prices.
    about getting a loan without a                                   Step 1: Call or go online to get your Dell PC at 1-866 257-4711 or
    co-signer? Patelco can help. In                                  www.dell.com/patelco. Be sure to mention or enter Member ID 82924266.
    most cases, if you have a job                                    Print-off your e-quote and then:
    and good payment history5,                                       Step 2: Contact Patelco to get pre-approved for your Patelco Computer loan.
    Patelco can get you into your                                    Apply online at www.patelco.org/computerloan, call us at 1-415-442-6200 or
    new wheels without a co-signer                                   stop by any one of our branches.
    at a rate lower than you might
    expect. Here are some more                                 2. Set-up Free Checking with Member-to-Member transfers
    details on our auto loans:                                       at www.patelco.org/checking.
                                                               3. Get a low rate Visa account at www.patelco.org/visa. Unlike many other
•     Up to 100% financing                                           credit cards on the market, there are no annual fees or penalty rates with a
•     Terms up to seven years for new                                Patelco Visa. Members under 18 must have parental signature.
      and used cars (1998 or newer)
•     Terms up to five years for older
                                                               4. Open our gr8 r8 savings account with an 8.00% APY3, that’s good until
      cars (1994-1997)                                               December 31, 2008 (available only to members under the age of 21). There is
•     Buy from a dealer, private party,                              a $1.00 minimum to open, and the rate applies to the first $1,000 deposited.
      or even buy out a lease
•     Refinance a loan from another
      financial institution and save
                                                               Current Rates
                                                                        Computer                             Auto                     gr8 r8 Savings                15-Year Home Equity
      money
                                                                          Loan                               Loan                        Account                        Line of Credit
    Contact us today and see how                                    RATES AS LOW AS                  RATES AS LOW AS

    we can help at: 800 358-8228 or
    on the web at
                                                                    8.9%          APR1              5.90% 8.00% 6.863%  APR2                             APY3                                   APR4

    www.patelco.org/carloans or                                1
                                                                 Rates as of 7/18/2007 and are subject to credit approval and can change weekly. Members under the age of 18 will require
                                                                 parent or guardian joint on account. Computer loan terms up to 24 months and amounts up to $2,500.
    stop by one of our branches.                               2
                                                                 Rates as of 7/18/2007 and are subject to credit approval and can change weekly. Patelco makes auto loans on an open-end credit plan;
                                                                 payment schedules up to 84 months available. No fee to open credit plan; no annual fee. Rates vary depending on credit rating, account
    5
     Rates vary depending on credit rating, account              relationship, payment schedule, vehicle value, and other factors and may be .10% to 16.60% higher than the quoted rate. 5.90% APR
    relationships, payment schedule, vehicle value and other   available to qualified applicants on payment schedules up to 36 months on 1998 or newer vehicles with up to 100% financing.
    factors. All loan terms subject to credit approval.        3
                                                                 Annual Percentage Yield effective as of 07/18/07, subject to change. 8%APY effective through 12/31/08 on balances up to $1,000.
    Rates subject to change without notice.                      Balances over $1,000 earn the low tier regular share account rate. Account will transfer to regular share account, effective 01/01/09, and
                                                                 this account will be closed. Member must be under the age of 21 at time account is opened. One account per member. Limited time offer.
                                                               4
                                                                 Rate is 6.75% and is as of 7/18/2007; subject to credit approval and can change weekly. Home Equity Loans are available in AZ,
                                                                 CA, CO, FL, IL, NV and WA. Non owner-occupied properties are available on certain products at a higher rate. APR calculations
                                                                 are based on a 15-year term and a loan amount of $100,000.00 with estimated closing costs of $500.00 and are for up to 80% LTV.



                                                                                                                                                                                                    1
                                                                    Using gift funds for a down payment may be a good

      Ask Joe                 An informative Q&A column
      focused on members’ home loan questions answered
                                                                    option if your daughter is of modest means. Patelco’s
                                                                    Home Loan Payment Relief (HLPR) program makes
      by Joe Kleemann, Vice President of Home Loans.                below-market-rate mortgage loans available to
                                                                    borrowers whose household income is at or below area
                                                                    median income. Plus you can use gifts or grants for
Q: How can I help my daughter buy a house?                          down payment assistance.

A: The financial demands of buying a house are often too             Q: I no longer live near a branch.
   great for young people to take on without the help of a              Who can I call to ask mortgage questions?
   parent. You can:                                                  A: One of the many benefits of being a
•	     gift your daughter funds for a down payment;                     Patelco member is that you have a designated
                                                                        Home Loan Consultant to answer your questions
•	     co-sign the mortgage to extend credit rather than                and help you complete the application process in a
       contributing;                                                    matter of minutes. Go to
                                                                        www.patelco.org/hlconsultants to contact
•	     or buy the property and lease it back to her, letting her        one today!
       participate in the appreciation.



     In efforts to better serve our members, we want to hear from you! Please email any real estate loan
     questions you may have to Joe Kleemann, Vice President of Home Loans at askjoe@patelco.org.




Stressed over the cost of healthcare?
We have the right prescription for you!
RX: Stop worrying about your medical costs and start                Take advantage of special credit union pricing!
saving with Health Benefits Plus, a new concept in affordable
healthcare.                                                         All you need to do is identify yourself as a member of
                                                                    Patelco Credit Union when you call toll free at
As a Patelco member, you have access to a special program           1-888-9MD-PLUS (963-7587) or visit
that gives you and your family a world of savings on medi-          www.healthbenefitsplus.com/patelco to enroll online.
cal and dental care, hospitalization, prescription drugs,
vision, chiropractic, alternative care and more! Health             With Health Benefits Plus, you can enjoy the conve-
Benefits Plus will help you manage the ever-rising costs of         nience of automatic payments from your credit union
healthcare at a price you can afford. With Health Benefits          account, and the assurance of a 30-day money
Plus, there is no qualifying, no deductibles, no claim forms        back guarantee.
and no limits – just great savings of 10% to 60% at more            Stop being stressed over the cost of healthcare and
than 350,000 participating providers: Doctors, Specialists,         start saving today with Health Benefits Plus and all it
Hospitalization, Prescription Drugs, Dentists, Alternative          offers you!
Care, Cosmetic & LASIK Surgery, Eye Exams, Eyewear &
                                                                    THIS PROGRAM IS NOT INSURANCE
Contacts, Rehabilitation Services, Counseling, Chiropractic,        This plan provides contracted discounts at certain providers for services and
Hearing Aids, Nurse Hotline, Medical Supplies, Massage              does not make payments to the providers. The plan member is obligated
                                                                    to pay for all services when services are rendered. Health Benefits Plus is a
Therapy, Elder Care, Plus Much More!                                discount dental plan which provides negotiated fees for dental services and
                                                                    is offered and administered by Benefit Services of America, Inc., a Florida
                                                                    licensed DMPO, located at 101 S. Wymore Road, Suite 300, Altamonte
                                                                    Springs, FL 32714.

2       August 2007
Health Savings Accounts.                                                                                           Calendar: Things to Know + Things to Do
Patelco’s Health Savings Account (HSA) supports creative
alternative to traditional health insurance; it is a savings product                                               August 2 – The Lincoln Penny was first minted
that offers a different way for you to pay for your health care. It                                                in 1909 to commemorate Abraham Lincoln’s
enables you to pay for qualified health expenses including visits                                                  100th birthday. It was the first American coin to
to the doctor, prescriptions, and dental care-while enjoying                                                       bear a president’s image on its face.
several tax benefits, such as making contributions that are
                                                                                                                   Sept 3 - Patelco will be closed in observance of
deductible from federal taxes.                                                                                     Labor Day.
To take advantage of an HSA you must be covered by a High
Deductible Health Plan (HDHP) which is an alternative to
traditional health insurance. You may be able to lower your
                                                                                                                    Hot Tip: What’s New + How To
health insurance premiums by switching to health insurance
coverage with a higher deductible. Generally, an HDHP costs less
than traditional health care coverage, so the money you save on                                                    Visit California Insurance Specialists, your
insurance can be put into your HSA.                                                                                one-stop-shop for all of your insurance
Perhaps the greatest HSA benefit is that you control the money in                                                  needs at www. patelco.org [Link: Insurance,
your account. That means decisions on how to spend the money                                                       Auto & Homeowner’s].
                                                                                                                   Call the California Insurance Specialist at
are made by you without relying on a third party or a health
                                                                                                                   1.800.231.4619 for more information.
insurer. Even better, funds are easily accessible through an HSA
debit card and HSA checks. Plus funds remain in the account
from year to year, just like an IRA. There are no “use it or lose it”
rules for HSAs.                                                                                                    Vital Statistics: Members + Assets
Apply at any branch location – or download forms online and
submit via mail – to get one of the best HSA rates in the country.                                                 Members:                  236,500
                                                                                                                                             $4,278,958,487
Get your HSA                                                                                                       Assets:

    Health Savings Account                       5.12%                               APY     1
                                                                                                                                                                           As of 6/30/07



Annual Percentage Yield as of 7/5/07. Rate is 5.00%
1




      Class Schedule: Free seminars for your financial well-being.
     > Making Decisions for                                          > The Truth About Estate                                 > Reverse Mortgage – Is it Right
         Your Aging Parents2                                            Planning & Living Trusts2                                for You?2
         Saturday, August 25, 2007                                      Thursday, August 30, 2007                                Wednesday, September 5, 2007
         144 Second Street – Mezzanine                                  6:30 p.m.– 8:00 p.m.                                     Noon – 1:00 p.m.
         San Francisco, CA                                              1790 North Broadway                                      144 Second Street - Mezzanine
                                                                        Walnut Creek, CA                                         San Francisco, CA

     > The Truth About Estate                                        > Solving the Mystery of the                             Investment products and services offered through CUSO
         Planning & Living Trusts2                                      Credit Report2                                        Financial Services, L.P. (CFS), are not insured by American
         Wednesday, August 29, 2007                                     Wednesday, September 12,                              Share Insurance (ASI) (the Credit Union’s private share
                                                                                                                              insurer), are not NCUA/NCUSIF insured, are not Credit Union
         Noon – 1:00 p.m.                                               2007                                                  guaranteed, and may lose value. Financial Advisors are em-
         144 Second Street – Mezzanine                                  Noon – 1:00 p.m.                                      ployees of Patelco Credit Union, and registered through CFS.
         San Francisco, CA                                              144 Second Street – Mezzanine
                                                                                                                              Patelco Credit Union is in partnership with CFS. Member
                                                                                                                              NASD/SIPC.
                                                                        San Francisco, CA

      Patelco seminars are complimentary and open to the public. Pre-registration is required. Call 415.281.2544 or go to www.patelco.org/seminars at least
      48 hours in advance. Patelco reserves the right to cancel seminars due to low enrollment and may limit class size. Enrollment will be accepted on a first-call, first-served basis.

2
    For specific tax advice, please consult a qualified tax professional.
                                                                                                                                                                          August 2007        3
Financial Tips For Newlyweds
1 Complete Patelco’s Checking Switch Kit. Make Patelco your primary account                                                                               How to Reach Us
    with free checking. You can sign up for direct deposits, earn Patelco Points1
                                                                                                                                                        Mailing Address
    (our Rewards Program), use Bill Payer, and access your money with our free                                                                         156 Second Street
    network of over 25,000 CO-OP ATMs.                                                                                                          San Francisco, CA 94105

2 Open a Patelco Roth IRA. Unlike the traditional IRA, there isn’t a 70 ½ age limit                                                                           Web Address
                                                                                                                                                             www.patelco.org
    on making contributions. You simply need to have earned income equal to the
    amount you contribute up to a maximum amount set each year.                                                                                              Telephone
                                                                                                                                                           415.442.6200
                                                                                                                                              800.358.8228 (outside CA)
3 Set up joint credit card accounts. Apply for Visa Gold and earn Patelco Points1.
    Spend $1, get 1 point. As your points add up, so do the rewards.                                                                                          Branches
                                                                                                                                                Find a branch near you.
4 Meet with a Patelco Financial Advisor,2 available through CUSO Financial                                                                     www.patelco.org/branches
  Services, L.P. (CFS), our broker/dealer. It’s never too early to start planning                                                       Credit Union Service Centers
    for retirement, thinking about kids (and how you are going to afford to send                                                           Find a shared branch from
                                                                                                                                             our nationwide network.
    them to college), and the lifestyle you want to have. Get answers to all of your                                                                www.cuswirl.com
    questions. Make an appointment for a complementary consultation today.
                                                                                                                                                     CO-OP ATM Network
    1
        $25 Annual Fee to participate in Patelco Points Rewards Program.
                                                                                                                                                   Find an ATM from our
                                                                                                                                                      nationwide network.
    2
     Investment products and services offered through CUSO Financial Services, L.P. (CFS), are not insured by American Share                         www.patelco.org/atm
    Insurance (ASI) (the Credit Union’s private share insurer) are not NCUA/NCUSIF insured, are not Credit Union guaranteed,                                 888.748.3266
    and may lose value. Financial Advisors are employees of Patelco Credit Union and registered through CFS. Patelco Credit
    Union is in partnership with CFS. Member NASD/SIPC
                                                                                                                                             PC-24 Online Banking
                                                                                                                                      www.patelco.org/onlinebanking

                                                                                                                                           Call-24 Telephone Banking
                                                                                                                                                         888.766.2424
Expected New Ruling May Fail You!                                                                                                      Lost or Stolen Credit Card?
                                                                                                                                                       415.442.6200
If you are a 403(b) employee, will your                                                                                          800.543.5073 (after business hours)

Retirement Plan Make the Grade?                                                                                                              Questions or Comments?
                                                                                                                                                     Send us an email.
                                                                                                                                                   patelco@patelco.org
Your investment flexibility may reduce in 2008. Unlike many employee
retirement plans which prohibit control until a participant either changes jobs
or retires, 403(b) plans offer you a choice!

Transfer options within these plans allow you to explore vendors who may
provide better investment choices or lower fees. But these options may be
restricted as early as January 1, 2008. Now is the time to take advantage of
your investment flexibility and your retirement plan to potentially improve the
return on your retirement plan assets!
                                                                                                                               Financial News is a monthly
To learn more about how this may impact you, call any of our Financial
                                                                                                                               newsletter published by Patelco
Advisors available through CFS3 at Patelco Credit Union. Go to                                                                 Credit Union for its members.
www.patelco.org/financialadvisors.
                                                                                                                               Patelco Credit Union is privately insured up to
                                                                                                                               $250,000 per account by American Share Insurance.

         3
           Investment products and services offered through CUSO Financial Services, L.P. (CFS), are not insured               This institution is not federally insured, and if the
         by American Share Insurance (ASI) (the Credit Union’s private share insurer), are not NCUA/NCUSIF                     institution fails, the Federal Government does not
         insured, are not Credit Union guaranteed, and may lose value. Financial Advisors are employees of                     guarantee that depositors will get back their money.
         Patelco Credit Union, and registered through CFS. Patelco Credit Union is in partnership with CFS.                    Accounts with this institution are not insured by
         Member NASD/SIPC.                                                                                                     any state government.




4          August 2007

				
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