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					           DIRECT DEPOSIT                         SHARE RATES                                                     DISCOVER
        IT’S THE WAY TO GO!                                                     APR       Yield                        YOUR
                                                  Regular Shares    0.50%                 0.50%
                                                  Special Purpose   0.50%                 0.50%
                                                                                                                CREDIT UNION
Direct deposit is the most convenient, cost
saving method of doing business with your         Super Saver Club* 3.95%                 4.01%
Credit Union. It’s free, it’s automatic, and it   IRA/Coverdell     4.50%                 4.59%
saves you the hassle of waiting in the teller     Compounded Quarterly
line during your lunch hour to make a             *Dividends earned on initial $2,500 deposit. Excess
                                                  balances earn prevailing Regular Share Rate
deposit.
Have you ever had to pay a bounced check
                                                  Money Market Accounts
                                                                                                                     May, 2008
fee simply because you didn’t have time to
make a trip to the Credit Union? With direct
                                                  $2500 - $25,000               1.25% 1.26%
deposit, you don’t have to worry.
                                                  $25,001 - $50,000             1.75% 1.76%
We process direct deposits before we open
                                                  $50,001+                      2.50% 2.53%
each morning to ensure the maximum
                                                  Compounded Monthly
benefit of this service to our members.
By participating in Direct Deposit, you save      Term Certificates
yourself time, money and gas!
And remember, borrowers opting to                 Six Months                    4.25% 4.30%
pay their loans using direct deposit              Nine Months                   4.25% 4.30%
combined with an automated payment                Twelve Months                 4.30% 4.39%
plan receive a 0.50% rate discount on             Thirty Months                 3.45% 3.50%
any of our unsecured loans or auto                Sixty Months                  3.45% 3.50%
loans.                                            Minimum Deposit of $1000.00 required. Interest
If you need help setting up a Direct Deposit      compounded monthly on all certificates with terms greater
through your employer or retirement plan,         than six months.
give our Member Service Reps a call at 617-
625-0898.                                         Checking
                                                                                                                Somerville Municipal
                                                  Checking Accounts earn no interest, and have
                                                                                                                Federal Credit Union
                                                  a minimum balance requirement of $0.01.
                Reminder!                                                                                         236 Holland Street
      Our policy restricts check                                                                                 Somerville, MA 02144
      cashing to members only;
                                                                                                                   Tel. (617) 625-0898
   the daily cash limit is $1500.00                                                                                FAX (617) 625-0364
      per member. If you have                                                                                 24 Hr. Teller (617) 666-6610
    special circumstances, please                 All rates subject to change. Dividends are                       www.sommfcu.com
         call us in advance.                      earned on the average daily balance for the                 Hrs: Mon-Fri 9:00am-4:30pm
              Thank You.                          dividend period.                                               Wed Eve Until 6:00pm
                                                           All Rates Subject to Change                                  Home Equity Loans
                                                  Rates listed on Personal and Auto Loans
                                                 reflect a 0.50% discount for direct deposit                             Rates Starting at
                                                            & Automatic Payment
                                                                                                                             4.75%
Congratulations to our Prize Winners!           LOAN RATES                                    APR                 If you’re considering a Home Equity
                                                Share Secured                                  3.50%              Loan, check our rate sheet on the
As part of our celebration of National Credit   Signature to $7500                           12.50%               back of this newsletter!
Union Youth Week last month, the Credit         Personal Line of Credit                      10.25%
Union held a prize drawing for all young        Holiday/Vacation to $3000                    10.75%
members who participated in the event.          Credit Card Payoff                            10.75%              We offer financing up to $100,000 on
                                                Vehicle Loans                                                     owner occupied and non-owner
The lucky winners were Chris, age 11,           2007 and newer                                                    occupied properties, with some
Reading, MA; Owen, age 10, Stoneham,            up to 80% financing                           4.50%
                                                up to 90% financing                           5.50%
                                                                                                                  restrictions.
MA; Davis, age 8, Medford, MA and
                                                up to 100% financing                          6.75%
John, age 10 of Medford, MA.                                                                                      There are many repayment options
                                                up to 120% financing                          8.50%

Congratulations to our winners and to all
                                                Model Years 2002-2006                                             available, and the Credit Union will
                                                up to 80% financing                           5.50%
who are taking on the savings challenge.        up to 90% financing                           6.00%
                                                                                                                  pay the upfront costs for you.
You’re doing a great job! It was interesting    up to 100% financing                          7.25%
to learn the variety of reasons our young       up to 120% financing                          9.00%               Give us a call at 617-625-0898 if we can
members save. Whether it’s a car, college,      Older Models                                                      help!
or a great vacation, we encourage you to        up to 80% financing, 36 mos.                  8.00%
keep up the habit of saving!                    Unless otherwise stated, terms up to 60 mos. for loans under
                                                $25K, and 72 mos. for loans over $25K . Full insurance
                                                coverage required.
                                                Mortgage and Home Equity Loans
                                                HELOC^                          5.00%
   Family Members Welcome!
                                                Prime Home Equity Line^^
                                                1 Yr. Adj. Mortgage^^^
                                                                                5.25%
                                                                                4.75%
                                                                                                                      Board of Directors
  It’s our privilege to serve you, and          Fixed Rate Mortgage, 8 Yr. Term 5.00%
  we welcome your family and                    Blended HELOC ^^^^              5.50%
                                                                                                                  Stephen Burgess, President
  household members to share in the             Max. Loan $100K, LTV up to 80%. Appraisal, recording and legal
                                                                                                                  Rita VanSteensburg, Vice President
  benefits of Credit Union membership           fees paid by borrower. Unless specified, rates are variable and   Terry Christopher, Treasurer
  as well.                                      adjust monthly; terms up to 15 years.                             Marie Linscott, Secretary
  Are your relatives satisfied with their       ^ Prime Rate – 1%, Floor Rate 5.00%, Cap. 15%                     Dan Matthews, Security Officer
  rate of return on savings? Does your          ^^ Prime Rate, No Floor, Cap 15%                                  Alice McDonnell
  child or grandchild need to establish         ^^^ Prime Rate adjusted annually on May 15th                      Jim O’Connell
  credit or open a free checking                ^^^^Fixed Rate 7 yrs, Prime for remaining term                    Robert McCoy
  account? We’d love to have them in                                                                              Joan Shute
  our Credit Union family- have them
  give us a call!

				
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