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					        chronicle                                                                                          FEBRUARY/MARCH 2007 | VOL. 16, No. 7
                                                                                      An Educational Newsletter for Members of New Mexico Educators Federal Credit Union




“Protecting and nurturing the
   health and safety of our
children should always be of
  the utmost importance.”




   Take your first step toward
         investing, p. 6.


                                                            New Mexico Educators member Ian Wilson and his son Andrew at the offices of MADD New Mexico.


                                                                   PROTECTING CHILDREN FROM ALCOHOL ABUSE

                                                                   Three years ago, when Ian Wilson                  “My children’s safety has been my
                                                                   departed Special Olympics New                     main motivation throughout my
                                                                   Mexico to take on the new position                tenure with MADD,” Wilson said.
                                                                   of Development Manager for                        “The loss of my daughter when
                                                                   MADD New Mexico, he quickly                       she was just one-year-old, due to a
 President’s Message . . . . . . . . . . .2                        understood the need for the                       heart condition, is a constant
 Your Security . . . . . . . . . . . . . . . . . . .3              lifesaving programs MADD has                      reminder that protecting and
                                                                   implemented. “I was amazed to                     nurturing the health and safety of
 Industry Info . . . . . . . . . . . . . . . . . . .4              see how diverse the organization                  our children should always be of
 Home Zone . . . . . . . . . . . . . . . . . . . . .5              really is,” Wilson said. “Many                    the utmost importance.”
                                                                   perceive MADD as being a female
 Investments . . . . . . . . . . . . . . . . . . . .6              organization. In fact, that’s not                 Any parent would be concerned
                                                                   true. The ‘mothers’ aspect                        about statistics like this: the
 Personal Finance. . . . . . . . . . . . . . .7
                                                                   represents anyone – women, men,                   national average age for first
 Financial Technology . . . . . . . . . .8                         aunts, uncles, brothers, sisters –                contact with alcohol is 11 to 12.
                                                                   who wants to take a role of                       Research shows that in order to
 Lifestyles . . . . . . . . . . . . . . . . . . . . . .10
                                                                   responsibility when it comes to                   be effective in any prevention, you
 Community Investment . . . . . .11                                the DWI issue in our state. MADD                  need to start five years prior to
                                                                   serves a very diverse population                  first contact, which would be the
 Member Benefits/Calendar . .12
                                                                   of victims, officers, judicial                    1st grade.
                                                                   systems and New Mexico youth.
                                                                                                                     M A D D ’ s “ P r o t e c t i n g Yo u /
                                                                   A victim is not only the person
                                                                                                                     Protecting Me” (PYPM) program
                                                                   who was hit by a drunk driver, but
                                                                                                                     for 1st through 5th grade students
                                                                   anyone who has been impacted
                                                                                                                     trains elementary school teachers
                                                                   personally by DWI or underage -
                                                                                                                     in adolescent brain development
                                                                   drinking.”                                                                     continued on page 9
                                                                                                                                        The power of WE.
                            PRESIDENT’S MESSAGE
                            Predatory lending practices are         money management principles at
                            receiving plenty of media attention     home.
                            these days. People who don’t
                            have a good grounding in money          Your Credit Union is committed
                            management can be lured into            to counteracting these statistics
                            a downward spiral of debt. The          and helping our members steer a
                            national trends are of genuine          clear course to financial well-being.
                            concern to those of us in the credit    With enough information, you
                            union movement.                         can better defend yourself against
                                                                    unscrupulous lenders. We provide
                            Another challenge for American          numerous money management
                            families is that the majority of        courses to public schools and
                            college seniors have four or more       colleges. Our Web site is filled with
                            credit cards, and the average college   useful information you can put to
                            senior carries a balance of $3,000.     work immediately to help manage
                            Ten percent of college students have    your finances. And you can also
       Your Credit Union    more than $7,000 of debt, and many      take advantage of our free evening
                            college students pay more in interest   seminars throughout the year. They
             is committed   on their credit cards than on their     cover such topics as buying your first
           to helping our   student loans.                          home, basic investing, and designing
                                                                    your retirement income.
        members steer a     According to a November 2006
          clear course to   report by the Center for Responsible    Our Financial Consultants are a
                            Lending, U.S. consumers are paying      free resource to you as you tackle
    financial well-being.   as much as $4.2 billion annually in     your family finances, and if you need
                            the steep fees on payday loans. To      assistance with debt management,
                            pay back a $325 loan, the average       you can also take advantage of
                            payday loan borrower pays a total of    BALANCESM financial counseling.
                            $793. The average annual interest       This additional no-cost service can
                            rate on such loans runs about 400%,     assist you with a debt repayment
                            according to the study.                 plan and bankruptcy prevention.

                            Without serious effort, the prospects   “Financial literacy” is a movement
                            for turning these trends around are     in which New Mexico Educators
                            not encouraging. The Jump$tart          intends to be a primary player. It’s
                            Coalition for Personal Financial        rooted in our basic credit union
                            Literacy says high school graduates     principle of “people helping people.”
                            possess very little knowledge about     We have the knowledge and the
                            personal financial skills. Most don’t   expertise to share with you. I hope
                            understand the basic financial          you will continue to benefit from all
                            concepts of earning, spending,          we have to offer during 2007.
                            saving and investing. The Coalition
                            also found that parents often avoid
                            talking to their children about
                            budgeting and saving, partly because    Terry Laudick
                            of their own failure to apply sound     President/CEO




2
                                        Awareness.
                                                       Peace of mind.




          YOUR SECURITY
PHRAUD TAKES NEW PHORMS
Technology brings us all kinds of convenience and          and dangerous for recipients because they may be
entertainment. It also creates new ways for crooks         more likely to click on links, bypassing anti-virus
to take advantage of consumers. The scams and the          software available on computers. Block messages
lingo change all the time. Here’s an abbreviated           from anyone not on your buddy list as a defense.
technology fraud dictionary to keep you in the             SPOOF. A spoof is an attempt to fool. Web spoofing
know:                                                      is the act of secretly tricking your Web browser into
PHARMING.        This secretly plants a virus or           talking to a different Web server than you intend.
malicious program in your computer and hijacks             E-mail spoofing involves forging an e-mail header
your web browser. Pharming crimeware misdirects            to make it appear as if it came from somewhere or
users to fraudulent sites or proxy servers. When you       someone other than the real source. Either can trick
type in the address of a legitimate Web site, you’re       you into supplying information to an unintended
sent to a fake site without knowing it. If you give        recipient.
your password or account information on the fake           If you hold your mouse over a link, the status line
site, thieves will use your account fraudulently.          displays the corresponding URL (Web address). Be
PHISHING. In this scam attempt, you receive an             suspicious if the status line URL is different from
e-mail prompting you to reveal personal details            what you think you should see. If Web pages you’re
– say, your Social Security number, passwords, or          familiar with suddenly prompt you to fill in private
credit card information – by clicking on a link to         information, think carefully before you comply.
a bogus Web page mimicking that of a legitimate            If possible, call or send mail to the official source
company. These e-mails and linked sites used to have       to verify that this change is legitimate. As always,
an amateurish look that was easy to spot; now, they        when in doubt, do not enter any information you
often are indistinguishable from the real thing.           feel uncomfortable providing.
A clear tip-off that it’s a fake: typically the greeting   VISHING. Vishing uses Voice over Internet Protocol
will be generic and not addressed to you by name.          (VoIP) phones instead of a misdirected Web link
Another characteristic is a sense of urgency or            to steal your personal information. Instead of an
alarm, say, that your account is about to be closed.       e-mail blast, the thieves use a “war dial” attack
Delete the message and report it to the Credit Union       over a VoIP system to blanket an area. A recorded
or other financial institution immediately.                message tells you, for example, that your credit card
PRETEXTING. This isn’t new, but another scam               has been breached and tells you to call a number
aided by technology. Sometimes referred to as “social      immediately. The number connects to a VoIP phone
engineering,” it occurs when someone tries to get          that can recognize telephone keystrokes. When
personal private information without authority to          you dial, another message states “this is account
do so. The scammer may ask for private information         verification; please enter your 16-digit account
while impersonating an accountholder by phone,             number.”
mail, e-mail, or even by phishing – using a phony          The same rules apply – don’t bite, and notify the
Web site or e-mail to collect data.                        “vished” entity right away. Even caller ID can be
SPIM.    Spim is spam – unsolicited bulk e-mail            spoofed, so don’t think you’re secure if you believe
– delivered by IM, instant messaging. Not yet as           the number looks legitimate. A similar telephone
common as spam, it reaches more people all the             message can arrive by e-mail – again, don’t bite.
time. IM can be especially useful for spammers             Source: National Credit Union Association

                                                                                                                   3
                  INDUSTRY INFO
    WATCH FOR DISCLOSURE SIGNS AT CHECKOUT

    If you write checks, you’ve probably experienced an
    electronic check conversion. Now you may notice
    new disclosure signs – both at checkout and on your
    statement – because of recent amendments to
    Reg ulation E, which governs these types of
    transactions.                                           happen soon – perhaps that day. If your check is
                                                            going to be converted electronically, the merchant
    Check conversion – the process of converting the        must post a prominent and conspicuous notice at
    payment you make by check into an electronic            the point of sale and must provide a written copy of
    payment – isn’t new. It’s been in place for more        the notice at the time of the transaction – usually
    than five years. It results in speeding up the          on your receipt.
    transaction process as well as increasing the
    security of your payment.                               For account receivable conversions – such as when
                                                            you mail a check to pay your credit card or public
    What is new is an amendment to Regulation E that        utility bill – you’ll see the new notice on your billing
    requires merchants to do certain things: they must      statement or invoice.
    inform you that an electronic transfer from your
    account will occur, and that the withdrawal may         Source: Credit Union National Association




         INTERNET BANKING SERVICE NOW AVAILABLE AT MORIARTY ATM

        The CU Anytime Network has installed its first
        full remote Access Center. It’s located in the
        parking lot of the ALCO department store, 1411
        Route 66 in Moriarty. From I-40 East, take the
        first Moriarty exit; turn left onto Old Route 66.
        The kiosk is about 1/4 mile east on the north
        side of the road.
        You can access and manage your New Mexico
        Educators accounts via the Internet at the
        Access Center terminal. The adjoining ATM
        accepts deposits as well as dispensing cash in
        $20 increments.
        Other recently installed no-fee CU Anytime
        ATMs:
        • ALBUQUERQUE – 2137 Carlisle NE, at
          Conoco station just south of I-40
        • GALLUP – 1383 N. Highway 491

4
                                          Customized mortgages
                                                   to meet your needs.



                  HOME ZONE
CHECK YOUR CREDIT BEFORE APPLYING FOR A MORTGAGE

A credit report is a sort of fiscal fitness statement
of your credit habits. It names your credit accounts,
identifies them by type and tracks balances, credit
limits, payments, available credit, open-or-closed
status and other information that reveals how well
or how poorly you pay each account. The report
also documents credit requests and notices of liens,
judgments and other “derogatory” remarks, remarks
from the consumer, and other information.

When you apply for a mortgage or other credit, the
creditor takes a look at your credit report, among
other documents and data, to determine if you
qualify for credit and to determine how much credit
it will grant you. Consequently, it’s a good idea to      uninformed or misinformed about their credit
keep tabs on your credit report so you can correct        scores, two things are rarely mentioned:
any mistakes that could adversely affect your
application, and to take steps to improve your credit     • Make sure that your mortgage broker is aware of
whenever possible. An unblemished credit report             the existence of different versions of software used
not only gives you fast access to credit, you also          for the various scoring systems. Older versions
pay less in interest than you would if your report          can produce lower scores than the newest, up-to-
contains blemishes.                                         date version, and many resellers of credit reports
                                                            never bother to disclose this to the broker, much
But beware of “impostor” Web sites that pose as “free       less the consumer.
credit report” Web sites, which are questionable
marketing gimmicks designed to enroll you in              • Consumers shopping for a home loan who request
credit-report monitoring and other credit services          their own credit scores are not going to be given
in exchange for granting you your “free” credit             the same mid-score they would be given in a tri-
report.                                                     merge credit report produced for a mortgage
                                                            broker, which is usually lower.
Under federal law, official, free access to your credit
report is available through many options:                 When you’re ready to take the first step in home
• Web site: AnnualCreditReport.com                        ownership, or if you’re moving up to a better home
• Request form on the Federal Trade Commission’s          or would like to refinance your existing mortgage,
  Web site: www.ftc.gov.                                  contact the Mortgage Professionals at New
• Phone: 877-322-8228                                     Mexico Educators Federal Credit Union. You’ll
• Mail: Annual Credit Report Service                      receive professional advice and prompt, courteous
  P Box 105281, Atlanta, Ga. 30348-5281
   .O.                                                    assistance. Call 855-5950 (800-347-2838 if you live
                                                          outside the Albuquerque area). You can also apply
Keep in mind that a credit report is not the same         for a mortgage securely online anytime day or night.
as a credit score, which is a numerical analysis of       Go to: www.nmefcu.org and select “Loans” in the
your creditworthiness at a certain point in time.         left column.
Your credit score is not available under the free
report provision. While it’s true many people are         Source: MarketWatch
                                                                                                                   5
      $        INVESTMENTS
    START INVESTING EARLY
    By deciding you want to start investing, you’re         meeting your insurance needs, to building a “nest
    taking the first step toward building a more            egg,” establishing an IRA and developing a long-
    financially secure future. Of course, once you’ve       range retirement plan.
    made the decision to invest, you immediately face       Because we sell no proprietary investment products,
    some important questions.                               New Mexico Educators Investment Representatives
    You’ll need to decide how much money you can            act in your best interest, which means you can expect
    afford to invest, how much money you should keep        our advice to be objective, fair and honest. You
    in your savings and checking accounts, and which        can call 872-5420 (800-347-2838 if you live outside
    investments are right for you. The truth is, today’s    the Albuquerque area) for a no-cost, no-obligation
    wide range of alternatives can be confusing for         consultation with the Investment Resource Group,
    novice and seasoned investors alike.                    a division of New Mexico Educators Federal Credit
    Why are there so many choices today? Because there      Union.
    are so many different types of investors. Your needs
                                                            *Investment products and services offered through CUSO
    for safety, liquidity, growth and income are not the
                                                                                   .
                                                            Financial Services, L.P (CFS) are not NCUA/NCUSIF insured,
    same as your neighbors’ needs. Not all investors        not Credit Union guaranteed, and may lose value. Investment
    have the same goals, tax issues, financial resources    Professionals are employees of New Mexico Educators Federal
    or even the same attitudes about risk and reward.       Credit Union (NMEFCU) and registered through CFS. NMEFCU
                                                            is in partnership with CFS (member NASD/SIPC). For specific
    Of course, the real answer is that no matter how        tax advice, please consult a qualified tax professional.
    much, or how little, you plan to invest, a financial
    plan built just for you is the best way to reach your
    long-term financial goals. Before our Investment
    Representatives, registered through CFS,* help
    clients invest their money, we make sure you
    have an adequate contingency fund set aside for
    emergencies. We also make sure your life insurance
    needs have been fully addressed.
    Here’s an example. If your goal is to accumulate
    wealth, then like most investors, you would probably
    want to defer paying taxes until a later date.
    That’s why many first-time investors start with                    1                   5                        10
    tax-advantaged accounts such as IRAs, Custodial
    Accounts, 529 Plans, Annuities, Trusts and, of             THE POWER OF COMPOUNDING
    course, their Employer’s Qualified Retirement              If an investment returns 8% per year and its earnings are
    Plan.                                                      reinvested annually:
                                                               After one year, your total return will be 8%*
    We can also help you prepare for life’s most               After five years, your cumulative total return will be 47%*
    important events, such as marriage. Starting a             After 10 years, your cumulative total return will be 116%*
    life together can be an overwhelming experience.
    But it’s also the perfect time to plan much more           *Figures quoted are for illustrative purposes only and are not necessarily
    than your wedding. The decisions you make today            indicative of past or future results for any specific investment. They
                                                               may or may not include any consideration of the time value of money,
    can have a huge impact on your long-term future.           inflation, fluctuation in principal, or in many instances, taxes.
    We can help you with advice for everything from

6
                                     Preparing for your family’s
                                                  long-term security.



              PERSONAL FINANCE
MORE THAN $60 BILLION WAITING TO BE CLAIMED
Government agencies are holding unclaimed              unclaimed when family members don’t notify the
property and missing money to the tune of more         insurance company about the policyholder’s death,
than $60 billion, and some of it may be yours.         and no effort is made to find lost beneficiaries.

Where does all that money come from? If an             To     start    the    search    process,    go    to
owner or heir doesn’t come forward to claim            www.MissingMoney.com (a free, searchable database
an asset for a specified number of years,              of unclaimed property records with links to each
accountholders – financial institutions, stock         state’s unclaimed property program). You’ll find
brokers, utilities, employers, and life insurance      links for missing credit union accounts, as well as
companies – send the funds to a government             links for missing savings bonds, veteran benefits,
trust account, and it sits there until you claim it.   accounts at closed banks, inheritance, pension
                                                       benefits, railroad retirement funds, and more. In
According to www.unclaimedassets.com, the IRS          most cases, there is no time limit for filing claims,
(Internal Revenue Service) has $73 million in          although some types of assets are subject to the
unclaimed tax refunds, the Bureau of Public Debt       statute of limitations, so take action now. Also, you
has $9 billion in unclaimed savings bonds, the         may have to pay any tax liabilities to claim some
Social Security Administration has $478 million        types of assets.
in unclaimed benefit checks, HUD (Department of
Housing and Urban Development) has $500 million        Source: Credit Union National Association
in unclaimed mortgage refunds, the Pension Benefit
Guaranty Corporation has $80 million in unclaimed
pension benefits, FDIC (Federal Deposit Insurance         HOW TO KEEP YOUR PROPERTY FROM
Corporation) has $200 million in unclaimed bank           BECOMING ABANDONED
accounts, and NCUA (National Credit Union
Administration) has $580,000 in unclaimed                 • Cash all checks as soon as you receive them.
share accounts. And that’s just the beginning.
                                                          • Keep a record of all financial accounts.
There are simple reasons for so much abandoned            • Keep a record of all stock certificates. Cash all dividends
property and missing money: unreported change               you receive.
of address after a move, a name change after
                                                          • Keep a record of all rent and utility deposits, including
a marriage or divorce, incomplete or illegible
                                                            telephone deposits.
records, and clerical errors. What this means is
you may be among the millions of people who               • If you change your name due to marriage, divorce, or
have a stash of cash just waiting to be claimed.            other legal action, notify your financial institutions,
                                                            brokers, credit card issuers, employer, 401(k)
Here’s the catch: the government makes no                   administrator, insurance agents, mortgage lender,
attempt to find the rightful owners. You need               health-care professionals, attorney, accountant,
to initiate the search. Unfortunately, millions             investment advisers, and others.
of family members don’t know they can collect             • Prepare a separate checklist of all financial institutions
unclaimed assets owed to deceased relatives who             and advisers to be notified when you change your
didn’t leave behind an updated will or detailed             address, and share the list with a family member or
map of where assets were located. In fact, more             trusted adviser.
than one-quarter of all life insurance policies go
                                                                                                                          7
    : FINANCIAL TECHNOLOGY
    TAX FILING BY HOME COMPUTER JUMPS 18%

    The number of U.S. taxpayers                                                 simple questions. The program
    filing by home computer jumped                                               — which is up to date on the
    18% during last tax season.                                                  latest tax law changes — selects
    The Internal Revenue Service                                                 the forms, does the math and
    reported that taxpayers e-filed                                              completes your return.
    more than 70 million returns
    through April 21, 2006, topping                                              If you can’t complete your return
    the 68.5 million electronic returns                                          in a single session, the program
    filed throughout 2005.                                                       saves your information until you
                                                                                 access it again using a password
    Of those e-filed returns, about                                              and member ID.
    50 million were completed by
    paid professionals, up about                                                 This tax preparation service
    9% from the 46 million returns                                               guarantees accurate calculations
    e-filed by professionals in the                                              or TurboTax pays penalties and
    same period in 2005. Meanwhile,                                              interest. :
    19.7 million e-filed returns were
    do-it-yourselfers   using    their                                           Source in part: MarketWatch
    home computers, up 18% from           8% from 113 million visits in the
    16.7 million for the same period      year-ago period.
    a year earlier.                       For the current tax season,
    “We saw a surge of e-filing at the    your Credit Union is once
    end of the tax season, particularly   again providing members with
    with people using software on         convenient links from its Web
    home computers,” said IRS             site: www.nmefcu.org to online
    Commissioner Mark Everson.            tax services from TurboTax®.            USE OUR ONLINE TAX CENTER
    “Compared to recent years, we         This program makes preparing
    had much more e-filing in the         and filing tax returns easier. There     Visit www.nmefcu.org and click
    weeks leading up to the deadline,     are no paper forms, no stamps to
    signaling that more balance-due
                                                                                   on “Member Resources” in the
                                          buy, no more last-minute dashes
    filers are embracing this service,”   to the post office — and refunds         left column of our Web home
    he said. “We received more tax        are faster. There is no need to          page. Then select “Tax Center”
    returns electronically in 2006        buy software or download the
    than the number of paper returns      TurboTax program. You don’t pay
                                                                                   for helpful information such as
    we processed for the entire United    a fee until you print the forms or       the Top Ten Tax Tips plus a handy
    States in 1966.”                      file electronically online.              checklist for assembling all the
    Plenty of those filers consulted
    www.IRS.gov while completing          The service guides you through           documents you need for filing
    their taxes. The agency’s Web         your return and allows you to            your taxes online or by mail.
    site saw almost 122 million visits    complete tax returns accurately
    through April 21, 2006, up almost     and securely online. Just answer



8
                                            DWI is
                                              100% preventable.

continued from the front cover




and certifies them to deliver the   problem changed in a way that        rather than on two separate sides
PYPM program in their               did not make him judgmental,         of the fence. YIA builds working
classrooms. Nikia Clarke, MADD      but created an understanding         relationships with the community
Youth Program Specialist, stated,   that some people drink when          founded on respect, gratitude and
“New Mexico is at the forefront     they are too young, and other        education.”
of implementing this national       people drive while they are
MADD curriculum. More               intoxicated. But with his positive   MADD is a grass roots
teachers are trained and more       influence and the information        organization whose success relies
classrooms are implementing it      that the show provided, Andrew       on the recruitment and utilization
here than in any other state.       can protect himself and possibly     of volunteers and members. “We
Since the beginning of 2005, over   his friends.”                        can’t do it alone,” Wilson said.
1,000 educators and prevention                                           “DWI is 100% preventable.
specialists have been trained and                                        Through legislation, increased
are using PYPM in their             The national average                 prevention efforts and
classrooms, potentially reaching    age for first contact with           educational initiatives, our
25,000 children annually.”                                               community is beginning to
                                    alcohol is 11 to 12.                 understand the horrible
MADD also brings highly                                                  ramifications of this crime, and
impacting multimedia shows to                                            we are taking proactive steps to
classrooms throughout the state.    Another MADD program, Youth          rid our roadways of tragedy.”
With three 15’ by 15’ screens and   in Action (YIA) is designed to
an amazing sound system, the        reduce the social and retail         There is much more to the
shows feature relevant music,       availability of alcohol to minors.   Mothers Against Drunk Driving
celebrity interviews and            Youth leaders ages 14-20 are         organization. You’ll find plentiful
blockbuster movie clips             trained and empowered to             information at the nonprofit’s
interwoven with key messages        influence their own peer groups      Web site, www.madd.org/nm, or
about the physical effects of       into positive, educated decision     you can call 505-255-2955 with
alcohol, drugs and tobacco on the   making about alcohol                 questions or to find out ways you
body and the brain. They also       consumption. Youth in Action         can help.
discuss the influences of alcohol   gives high school and college
advertising and the effect it has   students the opportunity to
on decisions students make.         impact their community in a
                                    positive manner. YIA members
Wilson commented, “It was           work with law enforcement
amazing to see the impact that      agencies on a variety of different
the MADD multimedia show            programs like compliance checks
‘Superhero’ had on my 9-year-old    and shoulder tap surveys. Wilson
son Andrew. He came home with       stated, “Typically there’s not a
new information on how to keep      strong positive connection
himself and the individuals         between our law enforcement
around him safe not from just       and teens. YIA has provided an
drinking but also from peer         opportunity for youth to work
pressure and other issues like      together with police officers to
bullies. His perception of the      make progress on this issue




                                                                                                               9
                          LIFESTYLES
     LIVE SIMPLY TO REAP SAVINGS
     If you’re eager to get off the earn-and-spend
     treadmill, you can make the shift to a lifestyle that
     embraces moderation and avoids excess. A successful
     transition, however, requires a change in both your
     spending habits and your relationship with money.

     In their best-selling book, “Your Money or Your Life:
     Transforming Your Relationship with Money and
     Achieving Financial Independence,” co-authors Joe
     Dominguez and Vicki Robin note that Americans
     “buy everything from hope to happiness.”

     But surveys find that spending as a means to achieve
     greater fulfillment doesn’t seem to work. So why do     be living beneath your means. Other useful
     we keep spending beyond our means? Habit may be         automatic savings options are our Vacation
     partly to blame. A daily routine that includes latte,   Club Account and Holiday Club Account.
     lunch and snack purchases could have you spending
     $10 a day without prompting a second thought.           Track your spending. The point of writing
                                                             down everything you spend is not to make
     To avoid mindless spending, Dominguez and Robin         you obsessive about your money. It’s to make
     encourage consumers to ask of each expenditure          you aware of your choices. Your routine
     whether it brought “fulfillment, satisfaction,          – do you go out to dinner every Friday
     and value in proportion” to the time it took to         and Saturday night? – may be one of the
     earn the money to pay for it. The key is figuring       biggest obstacles to reducing your spending.
     out what is enough and what is just excess.
                                                             Challenge every expense. Figure out how you
     Another important shift in mindset that needs           might be able to reduce each of your essential
     to be made before you can switch gears from             expenses, from housing to transportation.
     spender to saver: stop viewing spending as a            Then determine which of your nonessential
     reward and saving as deprivation.                       expenditures, such as entertainment and
                                                             vacations, deliver the greatest bang for
     Here are straightforward steps to reduce spending       your buck and abandon those that are
     and increase saving.     Adopt these tips and           enjoyable but not essential to your happiness.
     techniques to start living beneath your means:
                                                             Avoid temptation. The easiest way to do that is
     Make saving automatic. That’s easy to do: Just          to abandon shopping as a recreational activity. And
     ask New Mexico Educators to set up a funds transfer     try to limit your exposure to ad-heavy celebrity
     from the account where your paycheck is deposited       and style magazines and television programs
     to a savings or investment account. You choose the      that make affluence look commonplace.
     day and the amount. If you do this, and you don’t
     use credit or tap savings, you’ll automatically         Source: Credit Union National Association
10
                                         Support for the
                                              Universtiy of New Mexico.




     B COMMUNITY INVESTMENT
NEW MEXICO EDUCATORS SPONSORS UNM
WIRELESS NETWORK
Research has shown that available technology is          Albuquerque campus will improve “anywhere,
part of a student’s decision about which college         anytime access” by students and faculty to both
to attend. For today’s increasingly Net-savvy            academic and administrative resources. Students
students, wireless network access is standard            will find more opportunities to spontaneously
expectation at an institution of higher learning.        collaborate on class-related activities.
Lacking a comprehensive wireless network on its
Albuquerque campus, the University of New Mexico         Wireless resources will include the Library,
is at a competitive disadvantage in attracting the       Internet, and the University’s learning
best students within our state to remain in New          management system – WebCT. The new wireless
Mexico for their post-secondary education.               network will allow students to send and receive
                                                         e-mail, chat with professors, advisors and
                                                         classmates, share files, download and upload
                                                         assignments, create Web-based study groups,
                                                         and extend where learning can take place.

                                                         In addition to the wireless network support, New
                                                         Mexico Educators will be providing UNM with
                                                         an online financial literacy connection Web page
                                                         where students may go to obtain information to
                                                         help them make sound financial decisions. B




Because New Mexico Educators Federal Credit Union        NEW POLICY FOR INAPPROPRIATE MEMBER
is committed to improving the quality of education       BEHAVIOR EFFECTIVE IMMEDIATELY
in all the communities we serve in the state, we are
                                                         Unfortunately, from time to time, a member will behave in a
sponsoring the implementation of a campus-wide           manner inappropriate and/or threatening to a Credit Union
wireless network at UNM. “We are pleased that            employee, in either a branch office or on the telephone and
New Mexico Educators Federal Credit Union can            often in the proximity of other members. It is our responsibility
provide this level of support for our state’s flagship   to provide a safe financial services environment for our
university and look forward to seeing its benefits,”     members and a safe working environment for all our employees.
said Terry Laudick, President/CEO.                       Outbursts of inappropriate language and/or threatening
                                                         gestures by members challenge this policy. Therefore, our
Moira Gerety, director of UNM’s Information              Board of Directors has approved this new policy: In the event
Technology Services said, “By late 2008, UNM will        a member violates standards of behavior toward New Mexico
finally be able to better attract the 18-25 year olds    Educators staff, the member will be denied access to Credit
we want to retain in New Mexico.” Expanding              Union premises and personal contact with our employees.
the current piecemeal wireless network on UNM’s

                                                                                                                             11
                                        MEMBER BENEFITS
 WE’LL MATCH YOUR DONATIONS                              FREE FINANCIAL COUNSELING                                 FREE TAX PREPARATION SERVICE
 TO PUBLIC TELEVISION                                    SERVICES
                                                                                                                   Again this year, AARP is providing free
 Join us in supporting KNME-TV5/DT35                     BALANCESM, a comprehensive education                      income tax counseling and preparation
 in Albuquerque. Starting February 25,                   and counseling service, is available free                 for middle and low-income tax payers
 visit www.knmetv.org and click on “New                  of charge to all New Mexico Educators                     in Albuquerque, with special attention
 Mexico Educators Federal Credit Union                   members. BALANCESM counselors are                         to those who are age 60 and older. For
 On-Line Challenge.” We’ll match any                     experts in all aspects of personal finance                more information and to schedule an
 online donations during March 2007 up to                and credit and, if needed, can assist                     appointment, call Abe Silva at 821-7355.
 $20,000.                                                you with a debt repayment plan and
                                                         bankruptcy prevention. For complete
 For over 48 years, KNME has provided                    information about BALANCESM services,
 central and northern New Mexico with                    visit the “Member Resources” area of
 quality television and educational                      our Web site, www.nmefcu.org, and
 opportunities. Today, the station also                  click on “Financial Counseling,” or call                  If you would like to list your company’s
 offers a full schedule of dedicated high                889-7755 (800-347-2838 from outside the                   benefits for New Mexico Educators members
 definition broadcasts for the Greater                   Albuquerque area).                                        in a future issue of chronicle, please e-mail
 Albuquerque area.                                                                                                 marketing@nmefcu.org.



Credit Union & Community Calendar

FEBRUARY                         APRIL
                                                                                                            chronicle
Monday 19                        Tuesday 3
Closed Presidents’ Day           Asset Allocation
                                 (free evening seminar)*
Wednesday 21
Preparing to Buy Your            Wednesday 18
First Home                       Preparing to Buy Your
(free evening seminar)*          First Home
                                 (free evening seminar)*
Thursday 22                                                                                          FEBRUARY/MARCH 2007 | VOL. 16, No. 7
Budgeting for Positive           Thursday 26
Financial Results                Money Management
                                                                                                                                                         Presort STD
(free evening seminar)*          for Teens                                                                                                               US Postage
                                 (free evening seminar)*                                                                                                   PAID
                                                                           P.O. Box 8530 • Albuquerque, of 87198                                         Permit # 931
Wednesday 28                                                                         The power NM                                                         Albuq., NM
Investment                       All seminars are held at                  Please call 889.7755 or 800.347.2838 if you
                                                                           receive more then one copy of chronicle
Fundamentals                     New Mexico Educators                      or do not wish to receive a paper copy.
(free evening seminar)*          Federal Credit Union’s
                                 Albuquerque Training
MARCH                            Center.
Tuesday 20
Credit Union Annual              *To register for our
Meeting                          Albuquerque seminars, visit
                                 www.nmefcu.org, go to the
Wednesday 21
                                 Member Benefits page and
Preparing to Buy Your
                                 select “Member Seminars/
First Home
                                 Community Events” —
(free evening seminar)*
                                 or call 889-7755.
Thursday 22
How to Manage Your
Credit and Save
(free evening seminar)*

     Printed on recycled paper             EQUAL
                                           OPPORTUNITY
     and is recyclable.                    LENDER

				
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