Time to Buy a New Car? New
Believe it or
not, spring is New Auto, Boat Used Auto, Boat
confidence is and RV Loans and RV Loans
picking up and New rates as low as Used rates as low as
are starting to
are now giving APR* APR*
serious thought to buying a new car this time of year. for up to 60 months for up to 60 months
Before you head into the dealerships visit GrooveCar.com, Get Pre-approved and Save! Full Financing Available
an innovative auto buying resource that connects you with Maximum 3 Model Years Old
Leasing & Lease Buyouts
comprehensive research and comparison tools. (Including Current Year)
Other Rates/Terms Available
Make a smart car buying decision while obtaining low
TFCU financing. We offer great low rates.
All rates and terms are subject to change without notice. *APR: Annual Percentage Rate. Rates and terms are effective 4/1/2012. Rate will be based on credit history. Rate shown is lowest rate available. Applicants
who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. Rates not available on Buy Rite Plus balloon loans or leases. Not eligible for Educated Choice, Auto Transfer,
Loan-to-Value or Flat fee waiver (indirect only) discounts. Pay just $17.42 for every $1,000 borrowed with a 60-month term at 1.74% APR for new auto loans. Pay just $17.97 for every $1,000 borrowed with a 60-month
term at 2.99% APR for used auto loans.
Practical Tips for Obtaining a Mortgage
Here are a few tips to help you get through the mortgage process:
• Find out how much mortgage you can afford. See our financial calculators at
www.teachersfcu.org. We offer great low rates.
• Know what’s in your credit report. Your credit score will help determine the term of the loan, 15-Year Fixed Rate
as well as the interest rate you will be able to get. Rates as low as
• Create a wish list of what you want in a home. Do you want a 3-bedroom with a garage or
can you settle for a 2-bedroom with no garage? Knowing what you want upfront can save you
time when looking for your home.
• Understand the different mortgage programs. There are many different TFCU mortgage RATE
programs available, including adjustable rate, fixed rate, and first time buyer loans.
Make sure you understand each type of loan before selecting a program for you.
• Find out about closing costs. Not only do you need to put a down payment on a home, but
you also pay closing costs at settlement. Closing costs are based on many factors, so a APR**
“Good Faith Estimate” will be provided to you upon submission of a completed application.
For more information on the mortgage process, rates and closing costs,
visit www.teachersfcu.org or call 631-698-7000, extension 6790. All rates and terms are subject to change without notice. **APR: Annual Percentage Rate. Rates & terms accurate as of 3/26/2012. Maximum
loan amount is $417,000. Pay $6.91 per $1,000 borrowed for 15-year fixed rate mortgage at 3.13% APR. Taxes, insurance and other costs will result in a
higher monthly payment. Primary residence only. This is not a commitment to lend. If your down payment is less than 20% of the home’s value, you
will be subject to private mortgage insurance, or PMI. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/
or different terms. Rate shown is for purchase or refinance, up to 80% financing. Other rates and terms available for loan to values above 80%.
Member TFCU’s New Mailing Address
All TFCU correspondence, including loan payments and deposits, should now be mailed to our
Notice new address: P.O. Box 9005 • Smithtown, NY 11787
Check www.teachersfcu.org for ou
TFCU’s Website is TFCU is pleased to announce that we
will be launching a new and improved
website later this year!
for Ease of Use
Watch future newsletters for more details.
Get Your Statements Faster • Cut down on paper clutter – Retrieve the last 12 months
of statements & save them as a Portable Document
Enroll today to receive paperless E-Statements to save time and paper and help
• View or print your statements any time.
• They’re safe, secure and FREE!
• Your statement will be available sooner – generally the first business day Enroll Today! If you are currently using our online banking
after month-end. service simply login and select the E-STATEMENT SIGNUP
• Decrease the threat of identity thieves who can go “dumpster diving” for button. A valid e-mail address is required in order to activate
your account information. E-Statement alerts through eNotices.
To have your tax refund directly deposited to your TFCU
account, you’ll need our ABA Routing Number: 221475786 and
your account number.
If you are depositing to your Checking or Money Market account,
please be sure to use the entire 14 digit account number shown
on the bottom of your check.
If you are depositing to your Savings account, your five or six
digit member number is required.
• No monthly service fee
No Fees. No Stipulations. • FREE Visa® debit card
That s the TFCU Way!
Are you tired of paying outrageous bank fees?
• No minimum balance required
• No per check fees
Experience the benefits of a TFCU Checking • Free account alerts!
Account That is Actually Free! u TFCU checking is free; if incurred, fees such as a stop payment or
NSF fee will apply. Share Savings account of $1 required.
Win $1,000 for College Deadline:
TFCU will award $1,000 scholarships to six high school seniors who plan
to continue their education.
To enter, apply online no later than Friday, April 20th. Six names
To be eligible, the student must be:
will be drawn on Wednesday, April 25th. All winners will be notified by
• Graduating from high school this spring
mail and a list of winners will be posted in all branches.
• Attending an accredited college, vocational, or trade school in
the fall (if selected, you will need to provide us with a letter of Apply at: https://www.teachersfcu.org/info/poll/scholarsh_app.php
*Family members of TFCU’s employees and officials are not eligible to enter.
acceptance from the school you plan to attend).
• A member (or one parent a member) of TFCU by the date of the
drawing. (A savings account, with a minimum balance of $1.00 is
required for membership.)
Visit Our Online
Teachers Federal Credit Union - April 2012
ur GREAT LOW Home Equity rates!
Are Your Children on the Right Track
to Financial Independence?
By teaching children how to save for their goals, they’ll have one of the most • If you decide to pay your children an allowance, include them in
difficult aspects of saving under their belt by the time they’re teens – being a the decision. Discuss allowance amounts and what they should
consistent saver. use their allowance for. The amount is your call, but allow
them some input.
Here are just a few examples to help teach kids of different ages about the
savings game: • Show children what compounding interest means. Explain that as
they save, they’re constantly earning dividends on their savings –
• Have young children – preschool age – sort different types of money
on top of that, they’re earning dividends on their dividends.
into piles by color and size.
• As teens reach high-school age, clarify what you will pay for and
• Play grocery store or credit union. Help them use a pretend
what they are responsible for. For example, they may want the
newest cell phone that comes with a really high price tag. Establish
• At the grocery store, let them help you shop. Teach them how to your spending limit. If they still want the more expensive version,
comparison shop – for example, show them that for every $4.99 box have them make up the difference. Often, once the responsibility
of cereal, there may be similar brands on sale for much less. of paying for items is on them, the “latest and greatest” aren’t
• As children get older, let them know what things cost. Share sales receipts
and bills that you receive for items or services you’ve purchased for them.
Swipe Smart: Avoid In Memoriam:
Debit and Credit Scams Nicholas Maletta 1928 – 2012
TFCU is proud to honor the memory of Nicholas
Thieves are always coming up with new ways to steal your personal
Maletta, Vice Chairman of TFCU’s Board of Directors,
identification number (PIN) or account information from debit and credit cards.
who passed away recently. Mr. Maletta served on our
But you can help protect your finances by following these simple steps:
Board of Directors since 1983 and was elected to the
• Look for tampered ATMs or card readers. Don’t use a machine that position of Vice Chairman in April of 1991.
has loose connections, or tape or wires showing. Thieves can install a
He held the position of Consultant (Pensions and
device called a skimmer onto the ATM. The skimmer copies information
Retirement) for NYSUT and Trustee of the NYS
from the magnetic stripe on the back of the card.
Teachers Retirement System until his retirement
• Be aware of people around you at the ATM. Scammers may try to from the education field. He was a foreign language teacher at Eastern
look over your shoulder to see your PIN.
Military Academy, Bayport-Blue Point High School and Dowling College.
• Watch your card as it is swiped at gas stations, hotels and restaurants
to prevent unauthorized charges. His professional activities included advisory positions with the New York City
Board of Education and Educational Testing Services, Princeton. He served
• Check your bank and credit card statements regularly. If you
as Director for both NYSTA and NYSUT.
see any errors, even small ones, report them to your financial institution
immediately. TFCU’s Board of Directors, Management and staff are all grateful to Mr.
• Order a copy of your credit report. You can request a free copy of Maletta for the 29 years of service he gave to us. His selfless volunteer
your credit report once a year at www.annualcreditreport.com, or by work and countless contributions have helped shape TFCU into the strong,
calling 1-877-322-8228. successful financial institution we are today.
Springtime at the Long Island Museum
Long Island in Bloom will be on display during Long Island’s blooming painted the glories of flowers in nature, in gardens and in still life. The
season, a time when our thoughts turn to flowers and gardening. Many exhibit is on display in the Art Museum now through July 8. For more
of the gifted artists who have lived and worked on Long Island are known information visit the museum website at www.longislandmuseum.org.
for their floral works. Long Island in Bloom features these artists who
Bring a copy of this article with you to the museum and receive
one FREE adult admission to Long Island in Bloom with the
Visit our Online Mortgage Center today or call to speak Low Rates for purchase of a regular priced adult admission ticket.
with a loan representative at 631-698-7000, extension Purchasing or
6790, for more information as well as our great low rates. Refinancing!
Teachers Federal Credit Union - April 2012
IS IT TIME FOR LIFE INSURANCE? Chris Hibbard, ChFC, CFS
Senior Financial Advisor
Important life events may call for it. Trust Liaison Officer
5439 Sunrise Hwy.
A message from the TFCU Trust and Financial Services Program Holbrook, NY 11741
(631) 698-7000 ext. 6020
Just as many people between the ages of 30 and 50 lack a will, many also lack life insurance. A March 2011 survey from Genworth Stephen Abbott, CLU, ChFC
Financial and the University of Virginia’s Darden School of Business found that almost 70% of single parents and 45% of married Financial Advisor
parents were living without any coverage.1 2410 North Ocean Avenue
Farmingville, NY 11738
Why don’t more young adults buy life insurance? Shopping for life insurance may seem confusing, boring, or unnecessary.
Yet when you have kids, get married, buy a house or live a lifestyle funded by significant salaries, the need arises.
Finding the right policy may be simpler than you think. There are two basic types of life insurance: term and cash value.
Cash value (or “permanent”) life insurance policies offer death benefits and some of the characteristics of an investment – a
percentage of the money you spend to fund the policy goes into a savings program. Cash value policies have correspondingly
higher premiums than term policies, which give you death benefits only and have terms of 10 years or longer. Term is a great choice
for many young adults because it is relatively inexpensive. There is an economic downside to term life coverage: if you outlive the Financial Services Representatives
term of the policy, you and/or your loved ones get nothing back. Term life policies can be renewed (though many are not) and some at other branches:
can be converted to permanent coverage.2 Commack – Linda Davis
East Northport – Ron Rebaldo
The key question is: how long do you plan to keep the policy? If you don’t want to pay premiums on an insurance policy for more Nesconset – Micki Cahill
than 10 years, then term life stands out as the most attractive option. If you are just looking for a short-term hedge against calamity, Port Jefferson Station – Diane Jensen
that’s the whole reason behind term life insurance. If you’re getting into estate planning, then permanent life insurance may prove a Rocky Point – Catherine Garnier
better choice. South Setauket – Donato Surace
It may be cheaper than you think. Premiums on 10-year level guaranteed term policies are startlingly affordable. Just to give
you a ballpark example, a 40-year-old woman could potentially line up $250,000 in coverage through one major insurer for a premium of $16 a month in August 2011.3
Confer, compare and contrast. Talk with a financial or insurance professional you trust before plunking down money for a policy. That professional can perform a term-
versus-permanent analysis for you and help you weigh per-policy variables.
Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC , a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free
800-369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution,
through the financial services program, to make securities available to members. This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. All information is believed to be from
reliable sources; however we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent
professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. Citations. 1 - mainstreet.com/article/moneyinvesting/insurance/study-70-single-parents-forego-life-
insurance [3/25/11], 2 - money.msn.com/life-insurance/term-or-permanent-life-insurance.aspx [3/16/11], 3 - metlife.com/campaign/search/life-insurance-quote/index.html [8/4/11]. 10212011-WR-366
Farmingville Branch TFCU’s Annual
Undergoes Renovations TFCU’s Annual Meeting will be held on
To better serve our members, TFCU’s Farmingville branch has been undergoing renovations to Tuesday, April 24th, at 6:30 p.m. at the credit
modernize and expand its member service areas. We’re sure you’ll be pleased with our new union’s main office in Hauppauge.
appearance and we look forward to serving all your financial needs even more efficiently. All members are welcome.
Board Of Directors
Convenient Branch Locations Fred H. Schaefer, Chairman
Amityville Nesconset Raymond P. Grossman, Treasurer George L. Dornhoefer, Secretary
355 Broadway (Rte. 110) 127 Smithtown Blvd.
Bay Shore North Babylon F. Jane Harris, Robert J. Ney, Juan C. Nuñez
3rd Ave. and Sunrise Hwy. 1134 Deer Park Ave. Mario P. Shortino, Frank D. Spencer
Brookhaven National Lab† Oakdale
400 Brookhaven Avenue 951 Montauk Hwy.
Central Islip Port Jefferson Station Executive Management
118 Wheeler Road 450 Jefferson Plaza (Rte. 112) Robert G. Allen, President/CEO Thomas A. Fallon, EVP/COO
NEW TFCU HEADQUARTERS 10 Vanderbilt Pkwy. 176 Old Country Rd.(Rte. 58)
East Northport Rocky Point Supervisory Committee
Located at: 102 Motor Pkwy, Hauppauge, NY 556 Larkfield Road 561 Route 25A Ronald A. Mincio, Chairman James F. Nohe, Secretary
Mail: P.O. Box 9005, Smithtown, NY 11787 Entenmann’s† Selden
Paul E. Misut, April S. Neitlich, Robert J. Ney
1724 5th Ave., Bay Shore 301 Independence Plaza, (Rte. 25)
www.teachersfcu.org Farmingville Shirley
2410 N. Ocean Ave. 437 William Floyd Parkway.
631-698-7000 • 1-800-341-4333* Hauppauge Smithtown Convenient Loan Call Center Hours
*Outside the Long Island, Westchester and New York Metro areas. 102 Motor Pkwy. 1 West Main Street
5439 Sunrise Hwy.
260-A Pond Path
24/7 Loan Information & Applications
Find us on
211 East Main Street
SUNY Stony Brook
Student Activities Center &
631-698-7000, Ext. 6790.
facebook.com/TeachersFCU Health Sciences Center
While consistent effort is made to ensure the integrity of information contained in this
publication, material should not be considered legal, financial or professional advice. † Facility employees only
TFCU’s Routing Number: 221475786
Check www.teachersfcu.org for all of our GREAT RATES!