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					Compan on
January 2011


 AIMING FOR THE FUTURE

                                           ers:
                     of a credit m m mb
             all osper, ourunion eust grow; we can
          To r to pr
          In orde                      so small
                                            d some not
                           Many small an                          ional
          not stand still.                       ease their operat
                             ve  decided to incr                 two combined
           credit unions ha                      nership so that
                            ug h a strategic part              complimentary
                                                                               way.
           capabilities thro                 capabilities in a                  Board
                              n blend their                      Credit Union’s
            organizations ca                  TeleCommunity                   t Union.
                               ilosophy that                   Towpath Credi
            It is with this ph                 rtnership with
                             s agreed to a pa                       le growth
            of Directors ha                       br ing more viab
                              credit unions will                   members.
             Together both                        or asset to our
                                 viewed as a maj
             that can only be                                                   rs?
                                        r membe
                         it for you, ou mples:
               What’s in t a few exa
               Here are jus        in Akron and
                                                Fairlawn
                               nal off ices
                • Two additio TM.
                                 A
                   including an                 ent
                                   gage departm
                 •  In house mort
                                  credit cards
                 • Low interest               s
                                in some case
                  • Lower fees
                                 gs accounts
                  • Health savin                  Loan Program
                                 t backed Student                    and in some ca
                                                                                    ses
                   • Governmen                        lt immediately
                                                               not be fe                                e name
                                             rangement will                           cision to take th
                The effect  s of this new ar                     ou  r name. The de                 ible solution.
                                              l change will be                      is the best poss
                not at all. The most radica                    in  the long run it                   s. We are still
                                              as not easy, but                       a few new face
                Towpath     Credit Union w                    ar staff and possibly                      u as more
                                             the same famili                            d will update yo
                You will    continue to see           rs the best se rvice possible an
                                    ving our membe
                 committed to gi                   m  e available.                                            rive.
                                   d services beco                                          we intend to th
                 information an                                         to merely survive,
                                                      is not content
                                      Credit Union
                  Te leCommunity                       rs.
                                     you our membe
                  We owe that to             gether!
                               me stronger to
                  We will beco
                                                                                                   , CEO
                                                                                      Alan McArthur nion
                                                                                      Towpath Credit U
                                     ucci, CEO
                        Rose Bartolom
                                       Credit Union
                        TeleCommunity
                                                                                                                   esident
                                                                                                     mith, Board Pr
                                                                                        Richard Golds
                                                                                                      t Union
                                                       ent                              Towpath Credi
                                       er, Board Presid
                         Richard K. Hag redit Union
                         TeleComm  unity C



                                       Visit us online at: www.telecommunitycu.com
Remember your IRA!
                                               account is usually uninsured with no            tax-deferred status of those funds by


T
       he term IRA stands for
                                               guaranteed rate of return or protection of      rolling them into an IRA. Call or stop by
       “Individual Retirement
                                               your principal. There are also fees generally   and speak to an IRA specialist to get started.
       Account” and is governed                associated with brokerage accounts.
by IRS rules to allow special                                                                  Q: I have recently retired and
tax advantages and/or deferrals                Q: I can’t afford to contribute                 need to withdraw funds from
in order to help you save for                  much, what are my options?                      my 401(k), IRA, or other
retirement. The deadline to                                                                    retirement plan - What
                                               A: You can start an IRA at TeleCommunity
contribute to an IRA for the                                                                   should I do with the funds
                                               for as little as $25 and the important thing
                                                                                               until I need them?
tax year 2010 is April 15, 2011.               is to continually set aside funds for retire-
                                               ment. TeleCommunity conveniently offers         A: Opening a money market account
Q:What is the difference                       direct deposit with payroll deduction so        would be a smart idea. If you want to be
between an IRA at the credit                   you can save easily and painlessly - a little   able to access the funds whenever you
union and an IRA at a                          bit at a time.                                  need to without a penalty (while still
brokerage firm?                                                                                earning a higher rate of return) a money
                                               Q: If I have a 401(k) or qualified              market is perfect.
A: An IRA at TeleCommunity Credit
                                               retirement plan from an old
Union is insured by American Share
                                               employer, or if I am retiring,                     For more information,
Insurance up to $250,000, and your principal                                                     contact TeleCommunity
                                               can I roll it into an IRA at
will not be put at risk. In addition, the
                                               TeleCommunity?                                  Credit Union at 330.645.2700
credit union’s IRAs have a low initial
                                                                                                      or 800.257.6835
deposit of $25 and no fees*. A brokerage       A: Yes! You may be able to maintain the




Refinance your Mortgage
with TeleCommunity Credit Union
          ew mortgages are still low, with     Visit our Website and check out our                For more information on

N         home purchasing activity remaining
          sluggish as the job market con-
tinues to struggle. Mortgage rates have
                                               Mortgage Refinance Calculator for an
                                               estimate on how much your new monthly
                                               payments could be.
                                                                                                 refinancing your mortgage,
                                                                                               contact our loan department
                                                                                               at 330.645.2700 or 800.257.6835,
been dipping into historic lows over the                                                              or apply online at
past several weeks. While the housing          An associate in our loan department will         www.telecommunitycu.com.
                                                                                                                          *Some restrictions apply.
market is not recovering, even at these        be able to answer all your questions,
low mortgage rates, you might want to          including information on fees, interest
consider refinancing your existing mortgage.   rates offered, and other ways to help save
                                               you money on your mortgage. You could
Since July, refinancing activity has seen an   save thousands or be able to shorten the
increase due to interest rates dropping        length of your mortgage. There are fees
below 4% to make refinancing financially       associated with refinancing, along with
favorable. If you did not refinance when       the time required by you to supply all
rates were around 5%, take a second look       necessary documents, but if your current
at your mortgage terms and see if you          mortgage rate is high enough the time and
might save money down the road.                upfront expense could be well worth it.
ATMs – Use Freely, but with Caution
                                             • Use drive-up instead of walk-up             • Always cover your hand when typing


A
        TMs have become
                                               ATMs and make sure they are in                in your PIN. Use indoor ATMs that
        the standard in cash
                                               a well-lighted area.                          are less likely to be tampered with.
        convenience. But like
all electronic-based conven-                 • Be aware that criminals use “skimming”        Coming in January 2011
iences, you always need to                     devices like card readers and tiny             TeleCommunity will be
use caution.                                   cameras to capture personal information.     installing a new ATM with
                                               The equipment has gotten so                   an anti-skimming device.
Thieves are getting more and more creative     sophisticated, it looks like part of
                                               the ATM. If you approach an ATM
                                                                                          For more information contact
when stealing personal information. Here
                                                                                           330.645.2700 or 800.257.6835
are a few safety tips to remember when         and something just doesn’t “seem
using any ATM:                                 right,” don’t use it.



Ask About our Free Checking Account
                                             •   No monthly service charges                For more information on


W
           e’re not the only
                                             •   No per-check charge                      our FREE Checking Account
           ones offering free                                                                Service, contact us at
                                             •   No minimum balance
           checking. Our                     •   Unlimited check writing                  330.645.2700 or 800.257.6835,
FREE checking is not just                    •   First box of checks is FREE                  or visit us online at
FREE, it’s EASY. Nothing                     •   FREE ATM/check card                      www.telecommunitycu.com.
much to remember, except                     •   FREE online banking: unlimited
the benefits:                                    bill pay and e-statements
1098s and 1099s will be mailed to you by January 31, 2011.


                      TeleCommunity Holiday Hours
      New Years Day                   Martin Luther King, Jr. Day                         Presidents’ Day
Saturday, January 1, 2011            Monday, January 17, 2011                       Monday, February 21, 2011
       CLOSED                              CLOSED                                          CLOSED




                                   24 Hour Drive Thru ATM Service
                            Drive-Up Teller 7:00 AM - 7:00 PM Monday - Friday
                               Drive-Up Teller 9:00 AM - 12:00 PM Saturday

                                              Office Hours
                            Monday,Tuesday,Thursday and Friday: 9:00 AM - 5:00 PM
                                      Wednesday: 10:00 AM - 5:00 PM
                            Loan Department after 5:00 PM call for appointment




                                     2500 N Turkeyfoot Road
                                                         1
                                      Akron, Ohio 44319-1 41
                                       Phone 330.645.2700
                               Touch-Tone Teller Service 330.645.2800
                                   www.telecommunitycu.com

				
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