Cornerstone Credit Union | w w w. c o r n e r s t o n e c u . o r g | Third Quarter 2007
Inside: 2 Mortgage Insurance and Home Ownership 3 Protecting Your Privacy 4 Founder’s Scholarship Winners
New at Cornerstone Credit Union:
A Way To Simplify Your Life
At Cornerstone Credit Union, we’ve been dedicated to you’ll have access to a broad selection of insurance products
helping members manage their money since 1939. Now and services, made available through the MEMBERS Auto
we’re pleased to be able to expand the types of financial & Home Program, including insurance for:
services we’re able to offer. After many months of planning
■ Auto ■ Tenants (renters)
by a volunteer-led committee and our Board of Directors,
■ Homeowner ■ Commercial auto
the Hearthstone Group has been formed.
■ Motorcycle ■ Mobile homes
■ Boats & motors ■ Seasonal/vacation homes
■ Motor homes ■ Personal umbrella liability
■ Recreational vehicles ■ Scheduled property,
■ Single family homes including jewelry and art
Hearthstone Group is located in the Cornerstone Credit
Union building at 550 W Meadows Drive, Suite 100, in
Freeport. Stop in either the Freeport or Sterling office any-
Call for free rate quote by September 1, 2007
time on Friday from 9 a.m. to 6 p.m. or Saturday between
and receive a $10 gas card!
9 a.m. and Noon to meet with an Insurance Representative
for your free, no risk quote.
The Hearthstone Group is a Credit Union Service
Organization (CUSO) and its purpose is to provide you, Or our quick quote service is just a phone call away. Call
our valued member-owner, with solutions for virtually all of toll free 1-800-865-1869 for a free rate quote. There is no
life’s financial challenges. Its member-driven mission is to obligation and no sales pressure. And no need to make a
simplify your life. Its name, “Hearthstone Group,” was trip if you decide to sign up – you can do so right over the
chosen to highlight tradition, strength and safety. phone. Call Monday – Friday, 6 a.m. to 10 p.m. or
Saturday, 6 a.m. to 8:30 p.m. (central time).
Through Hearthstone Group, a limited liability company,
Feeling Pinched at the Pump?
Drive Happier with a Vehicle Loan from Cornerstone
Gas prices appear to be defying the laws of gravity. “What We can’t control the price at the pump, but we can help
goes up, must come down” does not seem to be the case at you improve your finances and fuel economy. With a low-
the pump. With per-gallon prices reaching new heights, cost auto loan from Cornerstone Credit Union, you can be
many families are feeling the pinch, exceeding the 12 to 15 behind the wheel of a more fuel efficient vehicle, such as a
percent of the household budget consumer experts recom- hybrid, before you know it. Our great rates on both new and
mend should go towards transportation.
SEE VEHICLE LOANS ON PAGE 3
Summer on Sale Mortgage Insurance Can Make Dream
On the road to summer fun, don’t
forget a stop at Cornerstone Credit
of Home Ownership Come True
Union to purchase your discount
tickets to Noah’s Ark Waterpark,
Plus Now It’s Tax Deducible
$25 for an all For many prospective first-time home buyers, mortgage insurance, it’s estimated that you
day pass and saving for the down payment is a high hur- may save $200 to $400 annually because
to Six Flags dle. While real estate prices are stabilizing, of the new law. Consult your tax advisor for
Great America, coming up with 20 percent of the purchase details. Families earning up to $109,000
$34.50 for a one-day
price can be a challenge. But don’t give up. can take advantage of a partial deduction.
With private mortgage insurance, even
pass or $52.50 for a If you’re in the market to buy a home, pri-
with a down payment of 3 percent or less,
two-day pass (need not vate mortgage insurance can mean you can
you can still make the dream of owning
be consecutive days). purchase “more house” for less of a down
your own home come true. That’s because
payment, too. With mortgage insurance,
the insurance protects against a default,
home buyers with limited financial
allowing your credit union to safely grant
resources need not unnecessarily limit their
the mortgage loan.
house hunt. Mortgage insurance allows you
And now a new law makes mortgage insur- to consider a wider range of homes, helping
ance premiums tax deductible. Home buyers ensure you buy the one that fits your needs.
who finance their home loans with mort- Once the equity reaches 20 percent, you
gage insurance may save hundreds of dol- may cancel the insurance. For more infor-
lars through this tax deduction. If you or mation on how mortgage insurance can
your family earn $100,000 or less, and help you cross the threshold of your new
purchase a home during 2007 with private home, contact the credit union.
Youth Stashed Their Cash
Treasure chests and pirates were the order value of nickels (without going over) in
of the day during National Credit Union an Estimation Jar at the Freeport office
Week, April 22-28. To keep their with an estimate of $40 (actual $43.60).
booty safe from landlubbers, 215 At the Sterling office, Bobby Abbott
young savers brought their treasures guessed $40.15, which was closest to the
to Cornerstone Credit Union, actual $44.40. The winners were two of
depositing a total of $14,268.50 in the 29 new members who joined during
their accounts during the fourth Youth Week.
annual National Youth Saving
Age-based coloring contests also yielded
Challenge, held during Youth
prizes. Phoenix Mordick won a $25 gift
Week. They joined 71,844 young
certificate to Wal-Mart in the 0 to 5 age
members who deposited a
group. Chase Hubbard and Brent Barklow
captured inflatable pirates, in the 6 to 8
$10.1 million at
age group and the 9 to 12 age group,
respectively. The winner of the Puzzle
Challenge for those aged 13 to 17 was Jody
At Cornerstone, Johnson, who garnered a $50 savings bond.
Congratulations to all of our winners and
enter several con-
to all who participated in the Savings
Janecke came clos-
est to guessing the
Confidentially Speaking: Cornerstone Credit Union
Protects Your Privacy
Privacy is fundamental to the American way of life. When you provide personal information in order to
process your transaction, you fully expect your data to be used only for its intended purpose and to be kept
We respect your right to confidentiality and take every possible measure to ensure your personal informa-
tion remains personal. In short, we work hard to earn your confidence and preserve your trust.
We value your membership and hope you will remain with us for many years to come. If you ever
have questions or concerns about the integrity of your account information, or any other aspect of
our Membership operations, please don’t hesitate to telephone or come in to talk to our staff. This
privacy disclosure is being issued to comply with the provisions of the Gramm-Leach-Bliley Act
governing the privacy of consumer financial information.
Our Privacy Procedure Notice
We have never shared nonpublic information except as Categories Of Information That We Disclose
required by law and we will continue to protect your We do not disclose any nonpublic personal information
privacy. about our members or former members to anyone,
except as required by law.
Categories of Information That We May Collect
We collect nonpublic personal information about you Disclosure As Permitted By Law
from the following sources: We may disclose all of the information we collect, as
described above to services providers and companies
1. Information we receive from you on applications
that perform marketing services on our behalf, for
or other forms, such as: your name, address, social
example, check printing companies.
security number, assets, and income.
Confidentiality and Security
2. Information about your transactions with our affili-
We restrict access to nonpublic personal information
ates, others, or us such as: your account balance,
about you to those employees who need to know that
information to provide products or services to you. We
3. Information we receive from a consumer-reporting maintain physical, electronic and procedural safeguards
agency, such as: your creditworthiness and credit history. that comply with federal standards to guard your non-
public personal information.
CONTINUED FROM PAGE 1
used vehicles make your payments easy on the budget, too. ■ For two-or-more car families, be sure the driver with
Have an auto loan elsewhere? Just bring in your paperwork the longer commute is using the most fuel efficient car.
and we’ll help you refinance if it will lower your payments. ■ Travel light. Lugging around golf clubs or other excess
baggage in your trunk takes a toll on fuel efficiency.
Enjoy peace of mind when you protect your vehicle pur-
■ Avoid aggressive driving, which can lower your gas
chase with GAP insurance from Cornerstone. If your
mileage by 33 percent at highway speeds and by 5
vehicle is totaled or stolen, your auto insurance settle-
percent around town, according to the Web site,
ment may be less than what you owe on the vehicle.
GAP – Guaranteed Asset Protection – eliminates your
■ Car pool when you can. Sharing a ride is good for
out-of-pocket expenses. It’s an affordable way to bridge
your wallet and the environment.
the gap on your vehicle loan. Auto warranty coverage is
■ Save a trip to Cornerstone Credit Union when you
also available. Contact the credit union for details.
sign up for CCU Online or access your account
Here are additional tips for getting more miles to through EARS (Easy Audio Response System).
2007 Founders’ Scholarship Winners Named
Congratulations to Luke Jungles and Brandon Wolfe, the group. He plans to attend the University of Illinois at
2007 winners of Cornerstone Credit Union’s Founders’ Champaign-Urbana, majoring in materials science and
Scholarships. Each will be awarded $5,000 in graduated engineering.
payments over four academic years, pending achievement of
Brandon, a graduate of Orangeville
a pre-determined GPA. The Founders’ Scholarship program
High School, is the son of Stuart and
is designed to encourage and promote degree completion as
Jill Wolfe. An Illinois State
well as reinforce the relationship between higher rewards and
increased responsibility. Scholar, Brandon was also a member
of the National Honor Society,
Luke, the son of Dennis and Tammy
Servant Leadership, TATU/SADD,
Jungles, is a graduate of Freeport
and participated in basketball and
High School. His interests include a
football. He was selected First Team
wide range of sports, including cross
All-Conference for Academic Bowl.
country, track, basketball, swimming,
He played alto-saxophone for marching, pit, pep and jazz
disc golf and ultimate. Luke also
band, and received the Louis Armstrong Jazz award.
enjoys playing piano and synthesizer
Brandon will attend Illinois State University in the fall,
at First Baptist Church and youth
majoring in actuarial sciences.
Holiday Closings Cornerstone By The Numbers Savings Rates
As of March 31, 2007 All rates are effective as of March 31, 2007 and the rate may
July 4 — Independence Day change after the account is opened.
September 3 — Labor Day Total Members 11,980
October 8 — Columbus Day Total Assets $70,007,431 Share Savings, Life Savings 0.35% APY*
Total Loans Outstanding $45,350,800 Holiday Club 0.40% APY*
* APY = Annual Percentage Yield for balances $250 and over.
Who Can Join CCU Directors
If you live or work in Bureau, Carroll, JoDaviess, J. Steven Green, Chair Galen Bertram
Lee, Ogle, Stephenson or Whiteside counties, or Joe Green, Vice-Chair Steven Heckman
are employed by one of the many companies we Chris Beeler, Treasurer Duke Herrling
serve, there’s an excellent chance you can join Kelly Geiseman, Secretary Christine Klipping
Cornerstone Credit Union. Connie Olson
Deposits are insured up to $350,000 — the first $100,000
is federally insured by NCUA and the next $250,000 is
How to Reach Us
privately insured by ESI. This is the highest combination of
federal and private insurance available to consumers.
24/7 Online Access President’s Hotline President’s E-mail
www.cornerstonecu.org 815.235.6971 email@example.com Cornerstone Credit Union does business in accordance with
the Federal Fair Housing Law and the Equal Credit
Main Switchboard Freeport Branch 24-Hour Audio Opportunity Act.
815.235.5855 550 W. Meadows Drive Response (EARS)
Toll-Free Freeport, IL 61032 Local Area
800.711.3277 266.3277 (EARS)
Fax 615 W. 3rd Street Toll-Free
815.235.5970 Sterling, IL 61081 800.711.3277
ABA/Routing # 24-Hour Loans
2711 8442 5 800.711.3277
CONNECTOR Published quarterly for members of Cornerstone Credit Union. Please send questions or
comments to: Marketing Department, 550 W. Meadows Drive, Freeport, IL 61032.