Home Equity Taxes by AliceBegovich

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									                                                                                                                                         SPRING 20 07




                                     Use Your Home’s Equity
                                     and Gain Tax Advantages
                                                                                                         We offer the following Home Equity products
                                                                                                         for your primary or second home in Ohio.


                                                                                                             Variable Rate Home
                                                                                                             Equity Lines of Credit:
                                                                                                             q Borrow up to 80% of your
                                                                                                             4
                                                                                                               Home’s Equity




                                     N
                                                                                                             q Maximum lifetime rate cap
                                                                                                             4
                                               o matter what your needs are,
                                               TeleCommunity has a Home                                      q Credit lines ranging from $5,000
                                                                                                             4
                                               Equity product to fit you.                                      up to $250,000.00†
                                     Whether you want a variable line of credit
                                                                                                             q Payment includes interest and
                                                                                                             4
                n t h is
                                     or fixed rate loan, whether you have a
      Me n t io a r t icle           little or a lot of equity in your home,                                   principle monthly
           t t er
    newsle TCU0307
                                     we have a program for you. Interest is                                  q Advances can be made by phone
                                                                                                             4
                                     generally tax deductible + and rates are
          de
    and co eive up to                lower than traditional loans. jcak owilsn
             c                                                                                               Fixed Rate Home
     and re off your                 Some of the benefits of our
       .50 % ate !                   Home Equity products are:                                               Equity Loan:
         loan r                                 No Annual Fee                                                q Borrow up to 125% of your
                                                                                                             4
                                                No Application Fee                                             Home's Equity
                                                Closing costs paid by the Credit Union                       q Loans ranging from $5,000 up
                                                                                                             4
                                                at the first advance                                           to $250,000.00†
                                     +
                                         Consult your tax advisor about the deductibility of interest.

                                                                                                             q Terms available for 15 years
                                                                                                             4

                     Two Easy Ways to                                                                        q Fixed monthly payment
                                                                                                             4
                  Open a Home Equity Loan:                                                                   	*	The	rate	is	adjusted	monthly	according	to	the	Prime	Rate	as	
                                                                                                                 published	in	the	Wall	Street	Journal.	
                    Call:      Apply for a loan by phone                                                      	†	Loans	over	80%	Loan-to-Value	are	restricted	to	a	$100,000.00	
                               (330) 645-2700 or (800) 257-6835.                                                 maximum.


                    Come In: Apply for a loan at our convenient location.




   Visit us online at
www.telecommunitycu.com
             Memorial Day
              Monday, May 28




                                                      Warm the Soles of Kids
                                                      Declared a Huge Success
                                                      O
                                                              nce again, TeleCommunity Credit             New athletic shoes for kids ages 5 to 18
                                                              Union participated in the “Warm          years old were distributed during the month
                                                              the Soles of Kids” program which is      of December. These children would otherwise
                                                      designed to provide shoes for children in the    not have had a warm pair of shoes to wear
                                                      Akron-area that need them for the winter         this chilly winter season.
                                                      season. For many, this was the first pair of        The donations of shoes and monies were
                                                      new shoes some participating children had        distributed to area schools through guidance
                                                      ever received.                                   counselors by affiliates of the Volunteer
                                                         “In the past six years, more than $85,000     Center, including Safe Landing Youth Center,
                                                      has been donated to this program by our          Salvation Army and the Red Cross.
                                                      generous members,” says CEO Jack Sarver.          Credit Union members who contributed to
                                                      “We are always quite pleased with our

     Rate
                                                                                                       this worthy program had their name placed
                                                      members’ commitment when it comes to             on an ornament that was displayed in the
                                                      helping out people in our community. The         Credit Union lobby during the Christmas
     Watch
As of February 23, 2007
                                                      response was outstanding.”                       holiday season. phinlaheap ferogsnu



Loans
New & Used               As Low As 6.59% APR          FREE Credit Report
                                                      O
Autos                                                          nce a year, you can obtain a free credit report from each of the following:
New & Used               As Low As 9.25% APR                   Equifax, Experian, and TransUnion.
Motorcycles                                                    The official website to order your credit
RV & Boat                As Low As 9.25% APR          report is www.annualcreditreport.com.
Share Secured                      6.00% APR          In the box that states: START HERE, select
Signature                        18.00% APR           the state where you live from the drop down
                                                      box and click the red Request Report button.
Home Equity              As Low as 7.75% APR          Complete the displayed form, then select
Loans &
Lines of Credit                                       Continue and select the reporting agency
                                                      you wish to use. Under federal law, this is
Term Share Account (CD)                               the only authorized online source for
3 Month                                   0.50% APY   free credit reports. You may be offered
                                                      additional products or services while at
6 Month                                   3.70% APY
                                                      this site, but you will never be required
12 Month                                  4.00% APY   to make a purchase to receive your
24 Month                                  4.10% APY   credit report.
36 Month                                  4.25% APY
                                                                                                                     unje haromn
APR	=	Annual	Percentage	Rate
APY	=	Annual	Percentage	Yield.	
Rates	subject	to	change	without	notice.
                                             CEO COrnEr
                                                                                               Refer A
                                 In today’s busy world,
                                 we have services that                                         Family Member
                                 will save you time.                                           Membership is open to all residents
                                                                                               of Southeast Summit County and
                                    Shared Branching – Members have the ability and            employees of our participating
                                    convenience to conduct account transactions at more than   employer groups. dennaa passreom
                                    2,400 credit union branches displaying the                 Family members of current credit union
                                    CU Service                                                 members are also eligible to join.
    Center logo all across the country. Visit
    www.telecommunitycu.com and click on the                                                   Unlike other financial institutions
    shared branching logo as shown here on the                                                 which need to generate profits to
    right for a list of shared branch locations.                                               satisfy stockholders, the credit union
                                                                                               cooperative returns excess earnings to
    Security – Your security continues to be a primary focus. With identity theft on the
                                                                                               our members, primarily in the form of:
    rise, TeleCommunity wants to assure you that we take every precaution to protect
    your identity. We will never contact you by email, mail or phone to ask for your social         Competitive dividend rates paid on
    security number, PIN, credit card number, account number, name, address or birthday.            savings and investment accounts
    When you contact us, however, we may ask for personal information. This is only used            Competitive interest rates on loans
    to verify your account or confirm your identity. If you suspect that you have received
    a fraudulent communication that seems to be from TeleCommunity, please notify our
    Service Center immediately.
    Identity Protection – To further protect your identity, we recommend that you get
    your monthly statement via eStatements. This will prevent someone from taking your
                                                                                                     Did You
    statement out of the mailbox and accessing your account information. You can also
    ensure that the personal data on your checks does not get into the wrong hands by
    using your debit card instead of writing a check for purchases. raymodn misllke
                                                                                                     Know?
    Visit www.telecommunitycu.com to sign up.                                                        Things You Can Do On
                                                                                                          Our Website
    I wish every member a continued prosperous 2007. As always, feel free to contact me
                                                                                                   www.telecommunitycu.com
    with your questions or concerns.
    Jack Sarver, CEO                                                                              4 Receive your monthly
    (800) 257-6835 • email: info@telecommunitycu.com                                                statement via email
                                                                                                  4 File your federal and state
                                                                                                    income taxes online with the

Beware When Buying Gift Cards                                                                       secure site, ProTaxNet
                                                                                                  4 You can apply for credit,



W
                                                                                                    loans and mortgages
           hen purchasing store gift
           cards, narrow your scope                                                               4 Order your checks
           to those displayed behind                                                              4 Receive 10% off the monthly
a clerk’s counter. At the very least,                                                               reoccurring charge of your
choose a gift card from the rear of                                                                 Sprint or Nextel calling plan
the display when selecting a gift
                                                                                                  4 Find a surcharge free ATM
card that is out in the open.                                                                       in 39 states
   Why? Scammers have been
                                                                                                  4 Shop for a vehicle – both new
known to copy the serial numbers
                                                                                                    and pre-owned
from gift cards displayed out in the
open, hoping those cards will be
quickly purchased and some time
would lapse before the gift card recipient      stolen serial numbers copied from the out in
actually uses the card. Once the card has       the open displayed gift card and uses them
been purchased and monies have been             to make an online purchase.
stored on the card, the scammer uses the
       Main Office
     2500 N Turkeyfoot Rd
       Akron, Ohio 44319
      Phone: 330.645.2700
          800.257.6835
       Fax: 330.645.6789

      Office Hours
Monday, Tuesday, Thursday & Friday
      9:00 a.m. to 5:00 p.m.
           Wednesday
     10:00 a.m. to 5:00 p.m.
            Saturday
        9:00 a.m. to noon

    Drive-Up Teller
         Monday - Friday
      7:00 a.m. to 7:00 p.m.
            Saturday
        9:00 a.m. to noon

          Website
    www.telecommunitycu.com

            Email
    info@telecommunitycu.com

  Touch Tone Teller
          330-645-2700
          800-257-6835
  24/7 Lending Center Option 1
                                     You are Invited
                                         to the
                                     Annual Meeting
                                                                 Win $25
                                                                 If You Find Your
       Routing &
    Transit Number:                  what:   Annual meeting
                                                                 Name Scrambled
            341273133                        of TeleCommunity    Look for the scrambled letters
                                                                 throughout this issue. If you can
                                             Credit Union
                                                                 unscramble them to spell your
 Board of Directors                                              name, you win $25 which will
     Richard Hager, Chairman         who:    All members in
                                                                 be deposited into your account.
  Steve Bukovsky, Vice Chairman              good standing are   Several lucky members have their
    Don Fergusson, Treasurer                 invited to attend   name scrambled in this issue.
     Ellen Decker, Secretary
                                                                 Good luck!
            Paul Ellis               when:   Saturday,
          John Crockett                                          In l a s t quarter’s issue,
           Phyllis Eady
                                             March 31, 2007      fo u r m e m b e r s ’ n a m e s w e r e
          Elmer Huszar                       Noon                scrambled. Unfortunately, no
        Herbert Shreffler                                        one unscrambled the text to
                                     where: TeleCommunity        f ind t heir n a me s. Ta k e t he
    Audit Committee                         Credit Union Lobby   opportunity to read this edition
  Mary Augustynovich, Chairman                                   of TeleCommunity Credit Union’s
          Ralph Dodge                why:    To review the       Companion carefully – it could
           Bob Doerr                         annual financial    pay off!
          Gary Magno                         performance OF      Please contact a credit union
                                             the credit union    representative to claim your
                                                                 $25 deposit.

								
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