Knowledge Builders Knowledge Builders by yantingting

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									                                                           FEBRUARY 2008




Knowledge Builders
Educational workshops designed to
guide you with your financial decisions.



DepositNOW!
New service allows instant check
access through online deposits.

Investment Strategies
Diamond’s Financial Team
can help you develop a plan.

Teaching Your Child to Save!
Teach your child financial fundamentals
along with our new youth account!


                                           Inside
                                                  this is
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                                                 U P DAT E S


Thank You!                                                    Now Accepting Applications
For the second consecutive                                    2008 Alfred A. Panfile Scholarship
year, Diamond is voted, by                                    Applications will be accepted through April 1, 2008.
you, the People’s Choice                                      If you’re a Diamond member in good standing and
Who’s Who in Business -                                       graduating high school this year with plans to attend
                                                              a 4-year college or university, you can apply. One
Berks County and receives
                                                              winner will be chosen at random and will receive
the Readers’ Choice award                                     $2,000 paid out over four years toward higher
from The Mercury in Pottstown.                                education expenses. Applications are available at all
                                                              Diamond Offices or on our website under e-Service,
                                                              Account Maintenance Forms.



Together                      Diamond will once again be raising funds to support the
                              American Cancer Society through the Relay for Life.
                              In past years, your support and that of our Business
We Make A                     Partners and friends has led to tremendous success for
                              Diamond’s fundraising efforts. Last year, we were proud to

Difference!                   make a donation of over $50,000 to the American Cancer
                              Society, and this year, we hope to donate even more. Again we
                              ask for your support of this wonderful cause to help those affected
                              by cancer in our community. Together we make a difference!
Upcoming Fundraising Activities
                     MARCH
                     8th Music, Beef and Beer - West End Fire Company
                     14th Basket BINGO - North End Fire Company
                     28th Hot Dog Day - Pottstown Office
                     29th Philadelphia Eagles vs. Community All-Stars
                          Basketball Game - Exeter High School
                          (Co-sponsored by Exton Nissan)
      APRIL
      5th   Philadelphia Eagles vs. Community All-Stars
            Basketball Game - Pottstown High School
            (Co-sponsored by Welsh Subaru)
      24th Hot Dog Day - Pottstown Office

                            MAY
                            9th Car Wash - Pottstown Office
                            10th Shredding Event
                                 Pottstown and Wyomissing Offices
                                 (Co-sponsored by Iron Mountain)
                            17th Car Wash - Wyomissing Office
                            23rd Hot Dog Day - Pottstown Office
      JUNE
      6th  Waffles and Ice Cream - Pottstown Office

 Visit our website under Diamond Exclusives - Calendar of Events for details as each event date approaches
                                   or visit your local Diamond Office.


                      1-800-593-1000 / www.diamondcu.org / The Diamond Edge / Februar y 2008
                                                                   3




                                                  NEW PRODUCTS



                                                             No more waiting to get to the credit union.
                                                             No more searching for ATMs that accept deposits.
                                                             Imagine depositing checks into your account from
                                                             the comfort of your home or anywhere you have
                                                             access to the internet!  Sign Up Today!



                                 How easy is it to use DepositNOW ? This easy:
                                 1. Log onto NetBranch to make your check deposit.
                                 2. Click on DepositNow and follow the instructions to deposit your check(s).




                                 3. Drop your check(s) in the mail to Diamond.

                                 4. Those funds, up to $1500, are available instantly to pay bills, to make
                                    purchases or to withdraw cash*.

                       In four easy steps, you’ll have instant access to your checks!
                  For more information or to register for this free service, visit our website.
            * Certain restrictions may apply. Service available to members in good standing with an active checking account.




Health Savings Accounts
Diamond introduces Health Savings Accounts, designed as
a tax advantage to help offset health care expenses.
Health savings accounts (HSAs) were created by Congress to combat
rising medical costs by providing an incentive for more consumers to
pay “first-dollar” medical expenses. HSAs are tax-favored accounts
designed to help pay medical expenses for yourself, your spouse, and
your dependents.
As a Diamond member, you have several HSA options available with no monthly or annual service fees.
Choose from a dividend-earning checking account with free debit card and check-writing privileges, a tiered
money market account with check writing and withdrawal privileges, and share certificates with terms starting
as low as six months.
For more information, or to talk with a Financial Consultant about which Health Savings Account option is
right for you, call us anytime, or stop in to your local Diamond office.



                       1-800-593-1000 / www.diamondcu.org / The Diamond Edge / Februar y 2008
                                                  4




                              F I N A N C I A L E D U C AT I O N


                                                       Throughout the year, Diamond will host eight
                                                       educational workshops to guide you in your
                                                       financial life. These 1-1/2 hour workshops are
                                                       free to members and the community. Each
                                                       workshop is hosted by a Diamond staff
                                                       member who is an expert in their field.


     Budget & Credit Score: Guiding you to Good Credit
     This workshop combines the two main items you need for financial success: a budget that fits your
     lifestyle and good credit. When you have the right budget, you can have good credit. We’ll teach you
     how to prepare a budget that works for you so that your credit score is maintained or improves.
     Having good credit helps you get the things you want out of life and pay less for them.
     Scheduled for Pottstown, April 17th and Wyomissing, April 24th.



     Mortgages: Become a Property/Homeowner
     If you’re ready to purchase a home, make plans to attend this “can’t-miss” workshop. We’ll answer
     your home buying questions and give you expert advise on what you need for your first purchase,
     common misconceptions, benefits and responsibilities of ownership, and the mortgage process.
     Scheduled for Pottstown, May 15th and Wyomissing, May 22nd.




     Retirement: How You Can Make it Happen
     Will you be able to live the retirement life you wish to lead? This workshop will discuss roadblocks
     to avoid, keys to successful planning, basics of investing, and calculating your needs. Get an
     in-depth look at investments that can be used to help build your nest egg.
     Scheduled for Pottstown, September 11th and Wyomissing, September 18th.




     College: Your Child is Preparing Now, Are You?
     The expense of education is ever-increasing and there are many options to consider when met with
     the challenge of saving toward this goal. This is what you need to know if you have children,
     grandchildren, or other family members considering higher education.
     Scheduled for Pottstown, November 6th and Wyomissing, November 13th.


For details or to register for an upcoming workshop, call today or visit the Diamond Exclusives section
                             of our website and click on Knowledge Builders.




                1-800-593-1000 / www.diamondcu.org / The Diamond Edge / Februar y 2008
                                                                                    5




                                           F I N A N C I A L A DV I S O RY S E R V I C E S



Investment Strategies for Your Strategic Plan
Success in investing doesn’t correlate with an IQ...what you need is the temperament to control the
urges that get other people in trouble in investing.” Warren Buffet
No matter if you are a seasoned investor or an investment pro, you should be aware of the fundamental principles of
sound investing. Becoming familiar with and applying these financial principles will help you better define your
investment goals and risk tolerance. This added focus may ultimately help keep you on the road to financial achievement.
One of the most important of these principles is that of a
strategic plan. With a strategic plan in place, it makes the
process of balancing your portfolio and maintaining an original
asset allocation mix much easier.
Over time, the value of individual holdings of what was an
original strategically planned portfolio will gain and lose value
as the markets rise and fall. At some point, the allocation across
equities and bonds may no longer be in line with your objectives
and risk tolerance. Experts suggest reviewing your portfolio at
least once or twice a year.
Monitoring Your Results
It’s important to conduct periodic reviews of your strategic plan,
with the help of your CFS* Financial Advisor at Diamond Credit
Union. It’s a great way to help ensure that you are still on track to meet your short- and long-term financial goals.
Whether your goals be retirement or a down payment on a house, when a strategic plan is in place you will be able
to accurately track income and spending and, if necessary, make adjustments according to the market.
In order to review or define your strategic investment strategy, schedule a one-on-one no-obligation consultation
with a CFS* Financial Advisor. We can help you determine a plan for your short- and long-term financial goals or
help you keep your investment strategies on track.
Schedule a no-obligation consultation with a CFS* Financial Advisor today. Call 800-593-1000 ext. 2085.


                                                                                        Your Financial Advisory Team at Diamond!
                                                                                        Here to help you meet all of your financial goals!

                                                                                        Our Financial Advisors were the recipient of
                                                                                        CFS’ Investment 2006 Rising to New Heights
                                                                                        Award for Outstanding Performance in
                                                                                        Investment Services.

                                                                                        Pictured clockwise from left:
                                                                                        Ed Taylor, Financial Advisor, Pottstown Office
                                                                                        Glenn Gardiner, CUSO Financial Advisor Manager
                                                                                        Dan Banks, Financial Advisor, Wyomissing and
                                                                                        Reading Hospital Member Service Centers
                                                                                        Heather Carricato, Financial Services Associate



Securities offered through CUSO Financial Services, L.P. (CFS), an independent broker/dealer, (Member FINRA/SIPC) and SEC Registered Investment Advisor. Financial
Advisors are independent representatives registered through CFS. The products offered are not NCUA/NCUSIF or otherwise insured; are not obligations of the credit union;
are not guaranteed by the credit union; involve investment risks, including possible risk of principal.

                                  1-800-593-1000 / www.diamondcu.org / The Diamond Edge / Februar y 2008
                                                         6




                                         YO U T H E D U C AT I O N



Helping Your Child Discover The Value
(And Fun) of Saving Money!
Teaching your child about money is one of the most important jobs as a
parent. Financial smarts are tough to come by. But teach your child the
difference between needs and wants, how to budget and how to save,
and your child will know more than many adults.
The best way to teach a child about money is to be a good role model. Let your child see you establish a budget,
comparison-shop, clip coupons, and make contributions to savings accounts and charities. The key is establishing
spending limits and sticking to them. Limits in spending are important lessons for all children to learn - and a
lesson many adults never get.
                                    An allowance is a good first step. Start with a small amount. Break the
                                    allowance into bills and coins allowing your child to divide the money easily.
                                    Put some into their Diamond savings account and some into different
                                    envelopes labeled, for example, “school,” “clothes,” and “entertainment.”
                                    Encourage your child to set short- and long-term goals such as purchasing
                                    movie tickets on the weekend or saving towards the purchase of a new bike.
                                    Another important lesson is the lesson of giving. Teach your child that saving
                                    money doesn’t mean it’s just for toys and games or necessities. Suggest they
                                    donate what they can to a church, shelter, dimes for the American Cancer
                                    Society, or any local community program every now and again.


                                    For more tips, visit
  5 Steps To Help Teach the         our website under
   Value of Saving Money!           Diamond Exclusives,
                                    Money Tips and
    1.   Set A Good Example         Tools. Or stop into
    2.   Shop Together              your local Diamond
    3.   Save For The Future        office and talk with
                                    our Financial
    4.   Open An Account            Service Consultants.
    5.   Set Limits




Your Child Will Feel Like A Star With Our
NEW Youth Savings Account!
Providing the tools needed to encourage children to save money.
Our new Youth Savings Account will allow your child to earn higher interest than with a regular savings account.
This account is specifically designed for our young members from birth to the age of 18. No minimum deposit is
required to open or earn interest. Saving money has never been easier or more fun. Contact us today to open a
youth savings account for your child, grandchild or family member!



                       1-800-593-1000 / www.diamondcu.org / The Diamond Edge / Februar y 2008
                                                                      7




                                                ACCOUNT INFO



Benefit From Current Rates
Low Mortgage Deposit Accounts                                                    *
                                                                                                                    Loan Accounts*

Rates!
                                                                           Effective February 5, 2008                                                Effective February 5, 2008

                                         Regular and IRA Share                                                   Conventional New/Used
                                         Certificates (CDs)                                                      Auto Loan
The housing                              Open with a minimum deposit of $1,000.                                  Same rate on new or used.
                                         Term                                                                    Tax-deductible option.
market has                                                                                                       $18,000 or greater
                                         45 Days                                      2.95% APY
been                                                                                                             up to 24 Mos.                                 5.49% APR
                                         26 Wks.                                      3.20% APY
generating                                                                                                       up to 66 Mos.                                 5.79% APR
                                         12 Mos.                                      3.75% APY
a lot of                                 18 Mos.                                      3.85% APY
                                                                                                                 67-72 Mos.                                    5.99% APR
attention,                               48 Mos.                                      4.20% APY
                                                                                                                 73 Mos. +                                     6.49% APR

and you                                  60 Mos. to 10 Yrs.                           4.25% APY
could benefit                                                                                                    Diamond MasterCards
dramatically from the low rates          Insured Money Market Accounts                                           Platinum MasterCard (Balance Transfer)
as a home buyer or through                                                                                       Purchases & Advances           7.90% APR
                                         Earn interest and enjoy flexibility.                                    6 Mo. Balance Transfer         4.90% APR
refinancing your mortgage.               Choice Money Market
                                                                                                                 Platinum MasterCard (Rewards)
                                         $50,000 and up                       3.30% APY
                                                                                                                 Purchases & Advances          8.90% APR
Purchasing a Home                        Marquee Money Market
                                         $25,000 and up                               3.00% APY
As you look around your
                                         Premier Money Market                                                    Home Equity Loans and
community, most certainly you’ve
                                         $10,000 and up                               2.75% APY
seen many homes for sale. If you’ve                                                                              Lines of Credit
                                         $2,500 - $9,999                              2.25% APY
considered buying for the first time                                                                             Borrow up to 125% of your home’s equity.
or moving, now is a great time.                                                                                  Home Equity Loan (85%)
Rates are historically low! Plus,        Jumbo and IRA Share
                                                                                                                 72 Mos.                                       5.49% APR
                                         Certificates (CDs)
Diamond has over 150 mortgage                                                                                    11 Yrs.                                       6.29% APR
products to fit any lifestyle with       Open with a minimum deposit of $75,000.
                                                                                                                 15 Yrs.                                       6.69% APR
low fees compared to other               Term
                                                                                                                 Home Equity Loan (125%)
competitors.                             45 Days                                      3.00% APY
                                                                                                                 72 Mos.                                       7.69% APR
                                         26 Wks.                                      3.30% APY
Refinancing Your Mortgage                12 Mos.                                      3.85% APY
                                                                                                                 11 Yrs.                                       7.99% APR
                                                                                                                 15 Yrs.                                       8.49% APR
Do you know your mortgage rate?          18 Mos.                                      3.95% APY
                                                                                                                 Home Equity Line of Credit (EquiPower)
If the current rate is at least one      48 Mos.                                      4.30% APY                  80%                                7.25% APR (Prime)
percentage point below your rate,
                                         60 Mos. to 10 Yrs.                           4.35% APY                  100%                            7.75% APR (P +.50%)
you could save dramatically by
refinancing your mortgage with                                                                                   125%                          9.25% APR (P +2.00%)
Diamond. Our mortgage experts
will provide a refinancing scenario      * LOAN DISCLOSURE: All rates and terms are subject to change without notice. Actual Annual Percentage Rate (APR) on loans
allowing you to see how refinancing      may vary according to overall credit history, total account relationship, payment method and payment of processing fees. Real estate
                                         must be principal residence of member/borrower and must be located in PA, DE or NJ. New/Used Auto Loan Example: $20,000
could save on your monthly               financed for 60 months at 5.99%APR results in a monthly payment of $386.44 and may require a down payment depending on the
                                         qualifications of the borrower. Fixed Rate Home Equity Example: $50,000 financed for 10 years at a rate of 7.99%APR results in a
payment, reduce your mortgage            monthly payment of $606.11. The maximum APR for Home Equity Line of Credit is 18%. You may be required to pay fees to a third
term and possibly help you               party, generally ranging from $150 to $500, to open a Home Equity Line of Credit. The line has a variable rate feature and the APR
                                         and the minimum monthly payment can change as a result. Internal transfers do not apply for the Diamond Platinum MasterCard.
consolidate other debt.                  DEPOSIT DISCLOSURE: Annual Percentage Yield (APY) is the rate that would be earned on $1,000 of savings, club, checking,
                                         money market and IRA accumulation accounts. The APY may change on these accounts after the account is opened. Fees may
                                         reduce earnings. For share certificates, the yield is calculated on the minimum amount required to open the account. Dividend
Talk with our Mortgage                   penalty for early withdrawal on share certificate accounts. A share certificate interest check may reduce earnings. A fee of $4.95 will
Experts about your mortgage              be assessed for falling below the $25,000 minimum balance requirement in the Marquee Money Market Account. Our Board of
                                         Directors reviews deposit rates on a regular basis. SKIP-A-PAYMENT: First mortgage loans, Payment Advantage loans and Fresh
or refinance today!                      Start Loans do not apply. A fee will apply and your loan term may be extended as a result. Other conditions and restrictions may
                                         apply. SKIP-A-PAYMENT DISCLOSURE: First Mortgage Loans, Payment Advantage Auto Loans, Fresh Start Loans and Interest-
Call 800-593-1000 ext. 1108.             Only Payment HELOC loans are not eligible. A one-time fee of $30 will apply to each skipped payment of each loan. A finance
                                         charge will continue to accrue during the month of the skipped payments and a longer term may result. The original maturity date
                                         of the loan may be extended. All other terms and conditions of the original loan agreement continue to apply and regularly scheduled
                                         payment will resume at the conclusion of the skip period.



                        1-800-593-1000 / www.diamondcu.org / The Diamond Edge / Februar y 2008
                                                                                                    8




                                                                AU TO L OA N P R O M O T I O N



Diamond’s “Drive 2 Save”
Multi-Vehicle Loan Discount!                                                                                                                                       Offer En
                                                                                                                                                                            d
                                                                                                                                                                   May 31s s
Do you have a vehicle loan with Diamond?
Do you also have an additional vehicle loan with another lender?
                                                                                                                                                                            t
If you answered YES to both questions, you can “Drive 2 Save”
with Diamond through our Multiple-Vehicle Loan Discount.*


                                                                           Now through May 31, 2008, if you have a vehicle loan with Diamond,
                                                                              you can bring over any additional vehicle loans you have at other
                                                                             lenders and we’ll give you an additional .50% off your quoted rate
                                                                                  at Diamond. Diamond offers some of the lowest vehicle loan
                                                                                   rates in the region, plus you’re rewarded with an additional
                                                                                           .50% discount off the rate of any additional vehicles.
                                                                                           The sooner you “Drive 2 Save” with Diamond, the more you
                                                                                             will save. Get a quote today! Call 800-593-1000 any time!

     *Offer valid through 05/31/08. Balloon loans and loans received through Diamond’s Indirect Lending service do not qualify for this promotion. Discount applies to purchases or payoffs of new or
     used vehicles. Discount of .50% off Diamond’s rate offering. Actual Annual Percentage Rate (APR) may vary according to overall credit history, payment method and payment processing fees.
     Diamond is an equal opportunity, equal housing lender. Proper insurance is required. All rates and terms are subject to change without notice. “Drive 2 Save” rate example based on an “A” credit
     score with payroll deduction. Other terms and conditions may apply. Example: Converting a current loan amount of $25,000 for 66 months with a rate of 6.59% APR to a Diamond Drive 2 Save
     rate of 6.09% APR would provide a savings of $389 over the life of the loan.




ONLINE CONTACT                          POTTSTOWN OFFICE                         READING HOSPITAL                          READING OFFICE                           EDITORS:
WEBSITE:                                                                         OFFICE                                                                             Angela Strohm, Vicki Hoover,
                                        1600 Medical Dr.                                                                   Broadcasting & Paper Mill Rds.
www.diamondcu.org                                                                                                                                                   Todd Rothenberger
                                        Pottstown, PA 19464                      G1 - Across from Personnel                Wyomissing, PA 19610
E-MAIL:                                                                          The Reading Hospital and                                                           COPY EDITOR:
askdiamond@diamondcu.com                Office Hours:                                                                      Office Hours:                            Kimberly Haines
                                        Monday - Wednesday                       Medical Center                            Monday - Wednesday
                                        9AM - 4:30PM                             Office Hours:                             9AM - 4:30PM
CALL CENTER                                                                                                                                                          SPECIAL HOLIDAY HOURS
                                        Drive-Thru opens at 7AM on               Monday 7AM - 4PM                          Thursday - Friday
(800) 593-1000
                                        Wednesdays                               Tuesday - Wednesday                       9AM - 7PM                                 Memorial Day, Mon., May 26th:
Monday - Wednesday
9AM - 4:30PM                            Thursday - Friday                        7:30AM - 4PM                              Saturday                                  ALL OFFICES CLOSED
                                        9AM - 7PM                                Thursday 7AM to 5PM                       9AM - 1PM
Thursday - Friday
9AM - 7PM                               Saturday                                 Friday 7:30AM - 5PM
                                        9AM - 1PM
Saturday
9AM - 1PM                                                                                                                                                          The Diamond Edge is a free publication.




                                                                                                                                                                                  PRSRT STD
                                                                                                                                                                                  US Postage
                                                                                                                                                                                     PAID
                                                                                                                                                                                  Reading, PA
  1600 Medical Drive, Pottstown, PA 19464                                                                                                                                         Permit #467
    (800) 593-1000 - www.diamondcu.org

								
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