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CommonWealth One Federal Credit Union                                                   July 2010


Big rewards from Enterprise, but only                                  Mortgage rates are the
until July 31                                                          lowest in decades
Buy a used vehicle from Enterprise Car Sales, finance it at            How good are you at predicting the
CommonWealth One by July 31, and get your choice of a:                 bottom of the housing market?
• 32” flat screen TV                                                      Unless you have a crystal ball,
• $300 AMEX® gas card                                                  waiting too long could leave you
• $500 over Blue Book® Trade-In Value on your vehicle!                 on the sidelines as housing prices
    All Enterprise vehicles come with a:                               rebound. And that new home
• 109-point inspection by an ASE           Auto loan rates             you’ve had your eye on? Gone!
                                                           as low as
Certified technician                                                      Once-in-a-lifetime housing
• 12-month/12,000-mile limited
powertrain warranty
• 7-day buy-back agreement. If you
                                                 2.99          %       prices aren’t the only reason you
                                                                       should act now. Our mortgage rates
                                                                       are at historic lows – the lowest
                                                 APR
change your mind within 7 days or                                      they’ve been in years!
1,000 miles, Enterprise will buy it                                       Also, consider refinancing your
back.                                                                  current mortgage to lower your
    When you combine this valuable offer from Enterprise               monthly payment and keep a little
                                      with our special,                more money in your wallet.
                                      limited-time auto                   But don’t try to navigate this
                                      loan rates as low as             volatile mortgage market alone.
                                      2.99% APR, you’ll                You need professional guidance,
                                      end up with one of the           and we can help. Our experienced
                                      greatest deals ever.             mortgage consultants will provide
                                         First, come to                the help you need to make the right
                                      CommonWealth One                 mortgage decision when purchasing
for your pre-approval; apply online at cofcu.org, call                 a new home or refinancing your
(703) 823-5211 or (800) 424-3334, or visit a branch office.            current mortgage.
Then go to cuautodeals.com for Enterprise Car Sales                       Contact:
locations and hours, and for detailed information on this              • Mónica Malavé in the Washington
special promotion.                                                     DC Metro area, (800) 424-3334,
                                                                       ext. 7615, and in the Harrisonburg
                                                                       area, (540) 801-1293. Or
Hurry! These car loan rates won’t last forever                         email her at monica.malave@
Get our great rates and superior service right at the                  memberadvantagemortgage.com.
dealership through our                                                 • Myrna Perkins in the Front Royal
partner, Credit Union Auto                                             area, (800) 424-3334, ext. 1036.
Loan Network. Visit                                                    Or email her at myrna.perkins@
cualn.com to find a                                                    memberadvantagemortgage.com.
participating dealer.
                    President’s Report
                                                                        w! equity loan rates
                                                                           Lower home
               What is a credit union? The                            Ne Taxes are on everyone’s mind. “How
               answer to that question is                                can I pay less?” “What can I deduct
                                                                         to lower my tax obligation?”
               more relevant than ever                                        Here’s one way: improve your
because credit unions can really make a                                  home by using one of our home
                                                                         equity loans. You’ll get a great rate,
difference in these difficult financial times.                           easy access, and a tax deduction on
The short answer is that we are a cooperative of like-minded             the loan interest. Don’t take that as
individuals who pool our savings to provide funds to loan to             tax “advice.” Rather, it’s a provision
other members at the lowest possible rates and the best terms.           in the IRS tax code. You report it on
CommonWealth One is the perfect result of the “people helping            Line 10, Schedule A of Form 1040,
people” tradition of credit unions in America.
                                                                         “Itemized Deductions.”
      At least once a week, I read of consumer advocates who
                                                                              You won’t be alone. Many
                                                                         members improve, rather than move,
recommend joining a credit union if you want the best rates on
                                                                         because they love their home, the
all of your financial products. That’s because, as a cooperative
                                                                         neighborhood, and the schools. Our
business, we:
                                                                         home equity loan options include:
• Are owned by those who use our services
                                                                              EquityLine, a line of credit.
• Are an autonomous, independent, democratic organization
                                                                         When you need funds, write an
controlled by our members
                                                                         EquityLine check or transfer funds to
• Show concern for our communities
                                                                         your CommonWealth One checking
• Provide economic benefits to our members.
                                                                         account. There’s an interest-only
      At a time in our economic history when it’s needed most,
                                                                         payment option.
CommonWealth One is working especially hard at providing                      EquityPlus, which provides a
economic benefits to our members. Translation: loaning money             lump-sum payout, with a fixed rate
to members at rates that help you succeed financially.                   and fixed term up to 15 years. Your
      For example, two of the biggest expenditures in life are your      payments are the same each month.
home and the multiple cars you’ll buy over the years. And those               EquityFive, which has an
are exactly the areas in which CommonWealth One excels.                  adjustable rate that may adjust every
      Our mortgage rates are at historic lows. It’s been decades         five years. Take up to 20 years to
since rates have been this low, and we encourage you to take             repay.
advantage of the savings you can realize by refinancing your                  To apply, go to cofcu.org, call
current mortgage. In some cases, you may be able to save                 (703) 823-5211 or (800) 424-3334 or
thousands over the life your mortgage loan, and that always              visit a branch.
makes good financial sense. For members currently renting,
this clearly is the time to buy your own home and start building         And the winners are...
equity for your future. Rates are so low, your monthly mortgage          Congratulations to our 2010 Kathryn
payment may be at, or lower than, your monthly rent.                     R. Coleman Scholarship winners.
      If you’re considering a new or used car, remember that                         Jace Ross, a graduate
CommonWealth One is offering – for a limited time – car loan                         of Marist High School
rates at a level not seen in decades.                                                in Chicago, will attend
      These are the issues that make your CommonWealth One                           the Fashion Institute of
membership valuable, for you and for your family members                 Technology in New York, and major
who may not yet be members. Remember, the fact that you’re               in journalism and minor in fashion
already a member makes them automatically eligible to become             management and merchandising.
a member of CommonWealth One. Encouraging them to join                               College winner Abigail
could be the best gift you ever give them.                                           Barnes will enter her
                                                                                     senior year at Vanderbilt
                                                                                     University and is majoring
                                                                         in human and organizational
                                                                         development and child studies.
                                                                                         Ask how to get even lower auto loan rates!


                                                                                        Loa n R ate s                 (APR as low as)
                                                                                        New & Used cars up to 2 years old Fixed       Var.
                                                                                        To 48 months                                            2.99%
                                                                                        49 - 60 months                                          3.99%
                                                                                        61 - 72 months        1
                                                                                                                                                3.99%
                                                                                        73 - 84 months        2
                                                                                                                                                5.99%
                                                                                        Used car: over 2 years old
                                                                                        To 60 months                                             4.99%
                                                                                        61 - 72 months                                           4.99%
                                                                                        Motorcycles
                                                                                        48 months (up to $10,000)                                6.24%
                                                                                        60 months ($10,000-$15,000)                              6.24%
                                                                                        72 months (over $15,000+)                                6.24%
                                                                                        New/Used boats & RVs
                                                                                        60 months ($0-$9,999)                                    6.49%
                                                                                        84 months ($10,000-$24,999)                              6.49%
                                                                                        120 months ($25,000+)                                    6.49%
                                                                                        OneLine line of credit
                                                                                        Limits up to $25,000                                                  8.00%
                                                                                        EquityPlus 80% LTV
More tax breaks for you when                                                            5 year
                                                                                        7 year
                                                                                                                                                4.99%
                                                                                                                                                4.99%
you “go green”                                                                          10 year
                                                                                        15 year
                                                                                                                                                5.99%
                                                                                                                                                5.99%
It may actually pay to “go green.” The American                                         EquityFive 80% LTV                                                    4.99%
                                                                                        EquityLine 80% LTV                                                    3.50%     3




Recovery and Reinvestment Act (ARRA) offers tax                                         Vacation Loan                                            7.90%
                                                                                        Signature Loan
credits for some energy efficient home improvements.                                    36 months                             9.90%
     Get a 30% tax break (up to $1,500) when you add                                    60 months                            10.90%
                                                                                        VISA Classic: No annual fee
                                                                                              ®
                                                                                                                             11.90%
insulation, energy-efficient windows, doors or skylights,                                     Platinum: No annual fee         8.90%
                                                                                              Balance transfers               8.90%
or heating and cooling systems. And get a 30% tax break                                 Business loans: Call for rates or visit cofcu.org
for alternative energy equipment like solar water heaters,                              APR = Annual Percentage Rates effective 7/1/10 and subject to change. Rates and terms
                                                                                        based on evaluation of applicant(s) credit. Your actual rate may vary. Some rates reflect.25% discount
geothermal heat pumps and small wind turbines.                                          for electing automatic repayments and an additional .25% discount for checking relationship
                                                                                        (Checking Account, Visa® Check Card, E-Statements and direct deposit/allotment.) Example: 3.49%
                                                                                        (current rate) less .25% (automatic payments) less .25% (checking relationship) equals 2.99% (your
     Go to irs.gov and click “Tax Benefits of the American                              final APR). For more information, please contact us. LTV = loan to value.
                                                                                        1. Terms of 61 to 72 months require a minimum $15,000 purchase price.
Recovery and Reinvestment Act of 2009” for details on                                   2. Terms more than 72 months require a minimum $25,000 purchase price
                                                                                        3. 6-month introductory rate. Thereafter, Prime plus or minus margin based on creditworthiness.
energy credits available to help save you money.                                        sav i ng s R at e s
This Information is not tax advice. See your tax advisor for your personal situation.   Share Savings                 Portion of bal. earns:                     APY
                                                                                        $0 – under $2,500                                               0.20%
                                                                                        $2,500 – under $10,000                                          0.20% – 0.22%
Your chance to win an iPod Touch                                                        $10,000 – under $25,000
                                                                                        25,000 – under $50,000
                                                                                                                                                        0.22% – 0.25%
                                                                                                                                                        0.25% – 0.30%
Sign up for E-Statements between Jul. 1 and Aug. 31,                                    $50,000 and over                                                0.30% – 0.38%
                                                                                        IRA & Coverdell Share Savings
and you’ll be automatically entered into a drawing for an                               $0 – under $2,500                                               0.30%
                                                                                        $2,500 – under $10,000                                          0.30% – 0.35%
Apple 8GB iPod Touch, a retail value of $199.                                           $10,000 – under $25,000                                         0.35% – 0.45%
     With E-Statements, you’ll:                                                         $25,000 – under $50,000                                         0.45% – 0.53%
                                                                                        $50,000 and over                                                0.53% – 0.70%
• Reduce paper clutter. Just save statements to your PC.                                Relationship PLUS Checking
                                                                                        $10,000 avg. daily bal. to earn dividends 0.30%
If you need a paper copy, just click “print”                                            Money Management $2,500 avg. daily bal. to earn dividends
• Fight ID theft because statements will no                                             Less than $2,500
                                                                                        $2,500- less than $10,000
                                                                                                                                 0 .26%
                                                                                                                                                        0.26% – 0.33%
longer be sitting in your mailbox                                                       $10,000 or more                                                 0.33% – 0.55%
                                                                                        Money Management Plus $10,000 avg. daily bal. to earn dividends
• Enhance your “green” stature because                                                  Less than $25,000                    0.73%
they’re environmentally friendly                                                        $25,000 - less than $50,000                                     0.73% –0.77%
                                                                                        $50,000 or more                                                 0.77% –0.83%
• Have easy 24/7 access through Online                                                  Share/IRA Certificate                                Min. Dep.
                                                                                        6-month                             $500            0.40%
Branch. (The past 12 months of statements are available                                 12-month                          $1,000            0.80%
online.)                                                                                15-month                            $250. *         1.02%
                                                                                        18-month                          $1,000            1.30%
     To enroll, login to Online Branch and click the                                    24-month                          $1,000            1.61%
                                                                                        36-month                          $1,000            2.07%
E-Statement tab.                                                                        48-month                          $1,000            2.40%
                                                                                        60-month                          $1,000            2.84%
                                                                                        Jumbo Share Certificates: Call for rates or visit cofcu.org
                                                                                        Business deposits: Call for rates or visit cofcu.org.
                                  HURRY!                                                APY = Annual Percentage Yield. Rates effective 7/1/10 and subject to change.
                                                                                        * Additional deposits allowed in $50.00 increments during the term of the certificate.

           Do you have an adjustable-rate
           mortgage that will adjust soon? 
   Now is the time to refinance. Fixed-rate mortgages are the                                 As of MAY 31, 2010
   lowest in decades. In many cases, they may be lower than                                   Members        37,233
   the adjustable rate you now have, so refinancing could                                     Shares         $262,372,595
   save you money.                                                                            Loans          $198,329,747
                                                                                              Assets         $291,552,267
                                                                saving for college
                                                                If your assets or income are too high to qualify for “need-based”
P.O. Box 9997 • Alexandria, VA 22304-0797 • cofcu.org           educational financial aid, we can help. CommonWealth
Phone numbers
                                                                                One Financial Network has strategies to
(703) 823-5211 (800) 424-3334 Fax: (703) 823-9065                               help pay for college, even while you save
PhoneOne (703) 823-3510 or (800) 426-2328
VISA 24 - hour info line & lost or stolen card:
                                                                                for retirement and other priorities. Rick
Credit Card: (800 ) 654 -7728                                                   Stroemple, our Financial Consultant, will
Check Card: (800 ) 472-3272
CUNA Mutual Insurance Company: (877) 636-2377                                   help you customize a strategy to help increase
CommonWealth One Financial Network: (866) 287-3783              your income, reduce your taxes, and reduce your overall
Check re-ordering: (800 ) 500-2441
                                                                expenses. Call (800) 424-3334, ext. 1294, to find out how
branch locations                                                Rick may help your family reduce your college expenses.
alexandria, Va                                                  Securities offered through Securities America, Inc. a Registered Broker/
main
4875 Eisenhower Ave.                                            Dealer, Member FINRA/SIPC, Richard Stroemple, Registered Representative.
M-Th: 8:30am-4pm; Fri: 8:30am-6pm; Sat: 9am-1pm                 Securities America, Inc. and CommonWealth One Federal Credit Union are
humphreys engineer ctr. (employee access only)                  separate entities.
7701 Telegraph Road                                             Not NCUA Insured. No Credit Union Guarantee. May Lose Value.
M-F: 8:30am-4pm
city of alexandria
1416 Duke St.
M-F: 9am - 5pm; Th: 9am - 6pm
t.c. Williams high school (restricted access)
                                                                Identity theft: How you can fight it
3330 King Street                                                A thief steals your name, birth date, and social security
M-F: 8am-3:30pm
Front royal, Va                                                 number, then, pretending to be you, calls your credit card
north side Professional center
1516-A N. Shenandoah Ave.
                                                                company and changes the account address or opens a new
M-Th: 9am-5pm; Fri: 9am-6pm; Sat: 9am-1pm                       credit card in your name. Because the statements now go to
harrisonburg, Va                                                a new address, you don’t realize changes have been made.
regional office
42 Terri Drive                                                  The thief uses the new credit card, the bills go unpaid, and
M-Th: 9am-5pm; F: 9am-6pm; Sat: 9am-1pm
Drive-up: M-F: 8am-6pm; Sat. 9am-1pm                            your credit is ruined.
James madison university
Gibbons Hall                                                        It’s ID theft, and the damage to your credit can be
M-Th: 9am-5pm; F: 9am-5:30pm
ATMs: Gibbons Hall, Lot G bus stop, CISAT
                                                                devastating. But you can fight it:
Washington, Dc                                                  • Visit AnnualCreditReport.com for your free yearly
Gao bldg., 3rd floor (employee access only)
441 G Street NW
                                                                credit reports and review them carefully for unauthorized
M, W, F: 8:30am–12:30pm                                         accounts or delinquencies.
T & Th: 8am-Noon
Providence hospital                                             • Immediately review monthly statements, as well as
1150 Varnum Street, NE
M-F: 9am–4pm                                                    other bills, and call the financial institution if anything is
Washington Post (employee access only)
1150 15th Street NW
                                                                suspicious. Sign new credit and debit cards promptly.
T & Th: 2-4pm                                                   • Don’t leave credit or debit card receipts at the ATM or
ATMs at all locations
                                                                anywhere else; don’t put PINs or passwords on your cards.
                                                                • Shred personal records.
President/ceo
John R. Blair, Jr.
                                                                • Never give personal information over the phone or
board of Directors                                              Internet unless you initiate the contact. CommonWealth
Rupert J. Jennings III, Chairman
William P. Jackameit Vice Chairman                              One has your account numbers and other necessary
Maurice B. Johnson, Secretary                                   information. We’ll never phone or e-mail you to ask for it.
Roderick M. Bricksin, Treasurer
Michael A. Cook
Robert G. Darius
Archie B. Ford                                                                      H I G H L I G H T S
Daniel A. Neckels
Mary L. Summers                                                   holiday closings
Lyle C. McLaren, Jr., Director Emeritus
supervisory committee                                             Independence Day: Mon., July 5
Ben Perchik, Chairman                                             Labor Day: Mon., Sept. 6
Georgia Wright-Hewitt
John D. Hulvey
                                                                  important notice about overdraft protection
John F. Knight                                                    New Federal regulations require checking account holders
Kathleen C. Ognibene                                              to opt-in to use Overdraft Privilege for Visa Check Card
                                                                  signature transactions, a service to help prevent the cost and
The articles and opinions in this publication are for general
information only and are not intended to provide specific         inconvenience of having your Visa® Check Card transactions
advice or recommendations for any individual.                     declined, checks bounced and ACH payments returned on
                                                                  your checking account. You must opt-in by aug. 15,
                                                                  2010 to continue to use Overdraft Privilege for Visa Check
                                                                  Card signature transactions. Go to cofcu.org, click “Checking/
                                                                  Saving,” then “Checking” for the opt-in form, and fax to
We do business in accordance with the Federal Fair
Housing Law and the Equal Credit Opportunity Act.                 (703) 823-9065. Or call (703) 823-5211 or visit a branch.

				
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