www.kohlercu.com SNIPPETS NOVEMBER 2010 Good People to Turn To Tis’ the Season—Create Some Smiles with your Home Equity! Rather than stressing out this holiday season about gift- set amount for a specific purpose such as paying your taxes, giving, vacationing, paying taxes or next semester’s tuition tuition or consolidating other high-interest loans. bills...turn to the equity in your home for financial support and Home Equity Loan benefits: keep that holiday smile going well into 2011! • Affordable fixed rates How can “home equity” make you smile? It’s so simple. • Fixed monthly payments You’ve worked hard to invest in your house, pay your monthly • No annual fee or prepayment penalties mortgage and enjoy the warmth and comfort of your home. • Tax deductibility (consult your tax advisor) Now you can let your home work for you by using its built-up • Convenient online application process equity to give you a helping hand through stressful financial Kohler Credit Union wants to times. help keep you and your family Kohler Credit Union has two types of home equity options smiling by providing affordable, for home owners to consider: a variable line of credit and a convenient financial options when fixed rate loan. What’s the difference? you need them. For more A home equity line of credit (HELOC) is a form of details or to apply for a revolving credit accessible any time you need it. With a home home equity product, visit equity line, you’ll be approved for a specified amount of credit www.kohlercu.com based on a percentage of your home’s appraised value minus or call 888.528.2595. your existing mortgage balance. Once approved for a home equity line of credit, you can borrow up to your credit limit whenever you want, either by online account access, “Call KCU”, or visiting any branch. Perfect for holiday shopping! Home Equity Line of Credit benefits: • Low, adjustable interest rates (rate varies monthly with the Prime Rate) • You’re in charge—use your funds however you want! • Convenient—access your money 24/7 • No annual fee • Pay interest on only what you use • Tax deductibility (consult your tax advisor) A home equity loan provides a fixed amount of money repayable over a fixed period. Traditionally termed a ”second mortgage”, these loans are perfect for those who require a specific amount of money and want loan balance stability. You might consider this over a line of credit if you need a New, Used or Refinance... Same Great Rate! Retirement Income Planning From the Not Your Mom’s Point of View... There’s a Big Difference Between “it’s just mine!” desk of Rachel Not Working and Not Worrying —a 20-something’s point of view. A Message from MEMBERS Financial Services Last month we celebrated International Credit Union Are you approaching retirement…or already retired? If so, you Day! Besides indulging in free cookies and cider, should have a retirement income plan in place to meet your goals. you may have heard a lot of buzz about “the credit If you’re like most people, you concentrate on when you’ll retire. union difference” and why we exist to serve you, our However, it’s much more important to think about how you’ll retire ... members. and how you’ll be able to have a steady income. A “hit or miss” plan Millions of Americans today are facing the worst for generating retirement income may prevent you from enjoying the economic circumstances imaginable. However, these stress-free retirement journey you’ve worked so hard for. same conditions are creating a flow of wealth for one Ask yourself the following questions: industry—the payday loan stores. The number of people • “Am I financially prepared to retire?” turning to these services has skyrocketed. Payday loan • “How much income can I realistically expect from my savings?” stores have grown dramatically from just 500 locations • “What sources of income should I draw upon and when?” in 1990 to an unbelievable 22,000+ today!* • “How do I know if my income will last … or run out?” The most common transaction at these stores is the • “How should I handle the rollover of my 401(k) plan?” payday loan, where a borrower writes a postdated check • “What about taxes, inflation, rising healthcare costs, low interest rates, for their next pay period, and, in turn, receives a check and a fluctuating stock market?” from the store that has a good chunk of change taken out The MEMBERS Financial Services Program Representatives of it. The loan store pockets the difference as fees and serving Kohler Credit Union can work with you to answer these interest (lots of interest!!) on the loan. Without efforts to questions and build a plan for your retirement income that allows you improve the financial literacy of those most at risk, this to live without worrying about whether you’ll outlive your savings. predatory lending will remain a fast growing industry. For more information, or to arrange a personal one-on-one retirement So where do credit unions come in you ask? As a income planning consultation, call 920.783.2312. credit union, part of our mission is to assist our members Representatives are registered, securities are sold, and investment advisory services offered through CUNA to become better-educated financial consumers. Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Nondeposit investment and insurance products Financial illiteracy results in poor spending, saving, and 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, investment decisions. These poor decisions can lead to to make securities available to members. FR061021-91F1 consumers using excessive credit, and turning to the wrong avenues, just to make ends meet. Contrary to what you might think, the effects of financial illiteracy reach well beyond our low-income families...Sorry to leave you hanging, but we ran out of room! You’ll have to visit www.kohlercu.com or www.facebook.com/kohlercu to read the rest! * Source: DailyFinance.com, Pallavi Gogoi Golden Shares Holiday Party! If you are at least 62 years young, we The Return of Conservative Investing— would love to see you! A seminar you won’t want to miss! • Wednesday, December 8, 2010 From this session you will learn: • How conservative investments JOIN US! • 11:30am – 1:00pm can help you face today’s November 10, 6:15pm - 7:00pm economic risks Saukville Branch • Rangeline Inn (170 Rangeline Road, Kohler, WI) 840 East Green Bay Avenue • The differences between CDs and Saukville, WI 53080 • Cost is $5 for members, $10 for guests annuities, and the advantages of each November 11, 7:30am - 8:15am Please RSVP before Friday, December 3 • How to decide whether a return Taylor Drive Branch by calling 920.459.2595 or 888.528.2595. to conservative investing can help 831 South Taylor Drive set your financial direction Sheboygan, WI 53081 Proceeds from this event will be donated to a local non-profit organization. RSVP by November 2! Email Paula Hirschmann at Paula.Hirschmann@cunamutual.com or call 920.783.2312. Insurance products are issued by CUNA Mutual Insurance Society. 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 (866) 512-6109. 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 ATTENTION: Kohler Credit Union branches will be institution, through the financial services program, to make securities available to members. FR101005-4335 closed Thursday, November 25 for Thanksgiving Day.
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