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June 2001
Members are not Dependent on Us,
We are Dependent on Them.
N ew government rules
designed to protect the privacy of your
with non-affiliated parties or market-
ing partners you will not have to
personal financial data will soon go into complete an “opt out” statement. Your
effect. These rules require all financial Credit Union Board of Directors and
institutions to inform members and Management have developed and
customers about their privacy policies and maintained specific privacy policies and
how and when they share individual practices to internally protect your private
account information with others. Recently information. Please know that in the
we mailed our Privacy Notice to all future if we need your permission to share
Members are members. Some members have called to information with a specific party you will
not an ask why they we not given the opportunity have the opportunity to make an informed
to “opt out” of mailing and marketing choice. In the meantime, please know
Interruption of pieces. Because we never have and do your Credit Union fully supports efforts
not plan to share your information to protect our members’ privacy.
our Work, they
are the Purpose Three New Drive-up ATMs Now Open!
for it. The newest KSFCU full service
ATM machines are located just
north of our Chester Ave. branch.
The full service ATM machines are
accessible to members and non-
members 24 hours a day, 7 days
a week.
FEDERAL CREDIT UNION
“Together, we have something special”
SM
Financial
Freedom Is
Stop All New Car Owners Your Car Insurance
When You Doesn’t Cover Everything.
If you think so, think again.
Have Control
Over Your How Gap Works
Money As
Loan Amount $25,000
Opposed To Loan Payoff $15,000
Your Money I n the event your vehicle is deemed a
total loss due to an accident or theft, your
Insurance Settlement
GAP
$12,000*
($3,000)
Insurance Deductible ($ 500)
insurance policy will usually only cover
Having Control the actual cash or market value of your Potential Out-of-Pocket Expense ($3,500)
GAP PlusSM Payment to Lender $3,500
vehicle. This amount could be significantly
Over You. less than the amount you owe to your CU.
The result is a financial gap (GAP) where
Out-of-Pocket Expense
with GAP PlusSM 0
you must make up the difference which GAP PlusSM Credit $1,000
could mean thousands of dollars out of
This kind of your pocket.
GAP PlusSM COVERS THE weight of 10,000 pounds, and, GAP PlusSM
freedom cannot be DIFFERENCE. You can avoid this
potentially serious loss by asking your
includes $1,000 credit toward the purchase/
lease of a replacement vehicle (optional).
bought or CU for GAP PlusSM Guaranteed Auto
Protection that can ease the financial
GAP PlusSM is now available at all KSFCU
locations. Members are eligible to add this
sold at any price. burden associated with the loss of your
vehicle.
product to a vehicle loan up to 60 days
after the purchase date.
GAP PlusSM protection is available for Call or stop by any branch and speak
personal-use vehicles** up to $125,000 with a Financial Services Officer.
(MSRP/NADA) with terms up to 84 *Actual cash value of vehicle
months, deductibles up to $1,000 are **Boats, motorcycles and RVs are not
covered; GAP PlusSM is available for new eligible. Other exclusions may apply.
or used vehicles not exceeding gross vehicle
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VISA®/VISA® Check Cards are something
you can depend on whenever and wherever
you go! If you aren’t using these services,
Source: you don’t know what you’re missing.
Financial Freedom a Day at a Time Try them!
By Suze Orman
2
HOW TO STAY THE COURSE IN TODAY’S
STOCK NEW! at KSF
Investment Services
Financial Advisors are now available
at the following branches:
MARKET Balancing Risk and Return
River Run
Branch
Meet with
Carol Camp
Tuesdays
CAROL CAMP FINANCIAL ADVISOR
he everyday ups and downs of Stock market volatility can try the nerves
the market show us the risks of of even the most seasoned investors. But,
Mt. Vernon
investing. But what about the as history has shown, market downturns Branch
risks of not investing? Those who do not have provided exceptional opportunities Meet with
invest are taking a lifestyle risk, the risk for people who remained committed to Craig Maytubby
that they won’t be able to keep up with their long term investment goals. By Wednesdays
rising prices for everyday goods and continuing and even adding to their stock
CRAIG MAYTUBBY
services. Though perhaps not as obvious purchases at bargain prices, these investors
SENIOR FINANCIAL ADVISOR
today, this lifestyle risk is probably the greatly enhanced their potential for long-
most harmful risk to one’s financial well- term gains. Ridgecrest Branch
being over time. As a wholly owned subsidiary of Kern Meet with one of our Financial
Advisors
Throughout history, stocks have been Schools Federal Credit Union, KSF
One Day Per Month (watch branch
the best investment to outdistance rising Investment Services offers a wide variety for posted day)
costs. U.S. government bonds and U.S. of financial services to members of the
Treasury bills offer investors a government Credit Union. To find out more about Our financial advisors are also
guarantee as to timely payment of interest the products available to meet your available to meet with you at the
individual needs, please contact Craig branch of your choice by making
and guaranteed return on principal if held
an appointment. To schedule
to maturity but, unlike stocks, guaranteed Maytubby or Carol Camp, experienced
your appointment with one of our
investments do not offer any opportunities financial advisors. They are available for Financial Advisors, please call
for growth of capital and income. Of a complimentary portfolio analysis and to 833-7898.
course, past performance is no guarantee help develop an investment strategy
of future results, and stocks fluctuate tailored to meet your individual goals.
with changes in market conditions.
However, stock investing has been Call to schedule your KSFCU Service Organization, Inc.
A wholly owned subsidiary of KSFCU
the best choice for investors who have appointment today! Investment services offered by
CUSO Financial Services, L.P. (CFS),
Member NASD/SIPC
recognized the importance of balancing 833-7898
both investing and lifestyle risks.
3
403(b)(7) Five Timeless
Flexible, Inexpensive Strategies
and Smart These are five time-tested
Three reasons for 403(b)(7) TSAs strategies that have served investors
• Savings/Investment well. These strategies can help
• Tax Deferral smooth out the impact of market
• Retirement fluctuations over time as well as
How does a 403(b)(7) TSA potentially enhance overall
benefit me? performance results. Invest for the
• The primary benefit of a TSA Plan is
that it permits an employee the long term. Historical evidence is
opportunity to build a substantial compelling; there’s been no better
fund with extremely favorable tax way to reduce risk of stocks and
benefits for retirement, investments enhance potential returns than
or savings.
through long-term investing.
Tax Benefits
• Pre-tax salary contributions reduce current Federal Income Taxes, while contributions • Invest for the long term
and investment earnings grow tax-deferred until withdrawn. • Invest systematically
How does a 403(b)(7) TSA work? • Don’t time the market. Diversify.
• All deposits are made by your employer at your request, via payroll deduction. • Use professional investment
• All deposits and investment earnings are yours, even if you leave and go to management
another job. • Talk with your investment
• The account always belongs to you and moves with you. It can always be moved professional
with any job change or transfer.
How much can I contribute?
• Generally, $10,500 or 25% of your salary.
• The maximum amount may be greater than an IRA account.
Employee Advantages
New Insurance
• Contributions may be increased or decreased any time. Services!
• Benefits can be withdrawn under a wide range of settlement options.
Effective June 1, 2001,
Loan Provisions KSF Insurance Services
• One of the most appealing features in the plan, employees can borrow from their will be serviced by California
account while maintaining the favorable tax-deferred status of their savings.
Insurance Specialists.
Eligible Members
• Employees of the following groups: This exciting change for our
• Public Educational Institutions members means that you will now
• Hospitals have access to a wider selection of
• Certain non-profit, tax exempt organizations
• Religious organizations insurance carriers and be able to
Is my present 403(b)(7) TSA Plan transferable? obtain insurance services through
To find out more information regarding the ability to transfer your plan, please contact the Internet, via a toll-free phone
our Financial Advisors for a complimentary portfolio review. number, or at our new location at
4600 American Ave, Second floor
(just upstairs from our previous
Call for your location). Please watch for more
appointment today! details to come on this exciting new
venture!
833-7898 KSFCU Service Organization, Inc.
Also, as part of the changes we
A wholly owned subsidiary of KSFCU are making in this area, Kern Schools
Investment services offered by Federal Credit Union will no longer
CUSO CUSO Financial Services, L.P. (CFS),
Member NASD/SIPC be participating in a referral program
.
Financial Services, L.P
MEMBER NASD/SIPC or affiliation with Kern Tax Service
or KSF Travel. If you have any
Investment services offered by CUSO Financial Services, L.P. (CFS), member NASD/SIPC: Investments are not
NCUA/NCUSIF insured or credit union guaranteed and may lose value. KSF Investment Services is a wholly questions or concerns, please do
owned subsidiary of Kern Schools Federal Credit Union and is affiliated with CFS. eVision is a trademark of not hesitate to contact us.
CUSO Financial Services, L.P.. On-line system response and account access may vary due to market conditions,
system performance and other factors. For specific tax advise, consult a qualified tax professional.
4
Board of Directors
Marilyn Jones Chairperson
Cecil Briscoe 1st Vice Chairperson
Bill Williams 2nd Vice Chairperson
Bill Pay! S.W. “Bill” Bruce Secretary
Quick and easy to set up! Mike Kileen Treasurer
Robert Elliott Director
Bill Pay is a New Feature of DataNet James Fillbrandt Director
that allows you pay all bills from your Ron Fontaine Director
personal computer. It’s quick and easy to Larry Reider Director
set up payees such as your mortgage or Jeannine Thompson Director
rent, utilities, insurance, etc. Bill Pay also Mary K. Zwartendyk Director
sets up recurring payments or one-time
payments to individuals. No more worry-
ing about stamps or envelopes. Supervisory Committee
Curtis H. Kennedy Chairperson
James C. Dunn Member
Travel Smart Carl D. Woody, Jr. Member
Carry American Express® Travelers Cheques. They’re safer than cash.
Every 10 minutes someone traveling in America loses their cash...Don’t let lost
cash turn into a lost trip. Travelers Cheques are available at all KSFCU Locations. You’ll find us on the Web at:
www.ksfcu.org
KSFCU Board of Directors Election Results Branch Locations
These Bakersfield
incumbents 4530 Ming Avenue
were re-elected 2424 Chester Avenue
to serve for an 3901 Mt. Vernon Avenue
additional three 8200 Stockdale Highway
year term.
4616 California Avenue
6101 Coffee Road
Ron Fontaine Jeannine Thompson Bill Williams
2671B Oswell Street
Ridgecrest
1621 North Downs Street
Other ATM Locations Delano
Apple Market in Shafter Kern Medical Center Cafeteria 828 High Street
Bakersfield College Bookstore Meadows Field - Airport Drive
Car Wash of America (inside the airport)
1701 Stine Road, 7991 White Ln. & Memorial Hospital - 34th Street
Office Hours
2301 H Street (in the main lobby) Monday through Thursday - 9am to 5pm
Centennial Garden Mesa Marin Friday - 10am to 6pm
Costco - 3101 Gilmore Avenue Regional Occupational Center
County Fair Market in Lamont Saturday - Ming, Mt. Vernon,
San Joaquin Community Hospital
Doubletree Inn - Camino Del Rio Ct. Superintendent of Schools Office Town & Country and River Run
Holiday Inn Select 1300 17th Street Offices - 9am to 1pm
Kern County Court House The Marketplace (in Kiosk)
Kern County Fairgrounds (inside the Main Gate Express Branches:
Valley Plaza Shopping Center
and in the Satellite Wagering Building) (in the Oasis Food Court) Delano - 828 High Street
Bakersfield -2671B Oswell St.
Phone Numbers 4616 California Ave.
Communication Center - Monday through Friday 10am to 6pm
Monday thru Friday, 8am-8pm VISA 24-Hours a Day (800) 654-7728
and Saturday, 8am to 4pm (661) 833-7900 KSF Investment Service (661) 833-7898
Other Areas Nationwide (800) 221-3311 KSF Insurance Service (661) 834-2211
Data Voice/Bakersfield (661) 831-5900 KSF Travel Service (661) 834-1245
Data Voice/in other areas (800) 248-3336 Home Loan Center (661) 833-7926
5
BULK RATE
FEDERAL CREDIT UNION U.S. POSTAGE
“Together, we have something special”
SM
Forwarding Service Requested
PAID
PERMIT NO. 595
BAKERSFIELD, CA
4530 Ming Avenue
Bakersfield, CA 93309
FC H O O L S E ! Credit
S RE ($50.00 Value)
Report!
N
KER
UNION
Our new Home Loan Center Offices are open C a l l To d a y :
adjacent to the Ming Avenue Branch. Come visit (661) 833-7926
us and enjoy the savings! From now until the end (800) 221-3311
of the year, we’re waiving the credit report fee for w w w. k s f c u . o r g
all new first mortgage pre-qualification applicants. 1415 McDonald Way
(adjacent to the Ming Avenue Branch)
FED
Offer valid thru 12/31/01 for Credit Union Members
More great savings from your Credit Union! applying for first mortgage only.
.
ER Call today to schedule your appointment.
IT
A ED
HURRY!O
SCH OLS
Take advantage of our
Home Equity Special today!
N
NO FEE
Borrow up to 100% of the value of your home, choose the terms
*
KER
UNION
that are right for you and best of all — pay no standard closing fees.
.Put the cash in your home to work for you where you need it
Home most. Call or visit a branch today for details.
Call Today:
(661) 833-7900
FED
Equity (800) 221-3311
ER
IT
LoansA L C R E D Offer subject to credit approval. *No fees for
standard closing costs which include application
fee, drive-by appraisal, title fees, document fees
and flood certification.
6
