VIEWS: 5 PAGES: 4 POSTED ON: 9/8/2011
A Publication of The Cleveland/Bradley County Teachers Federal Credit Union Interest December 2006 - 4th Quarter IRA’s More Important Than Ever Advances in medicine, healthier lifestyles, and a safer work environment mean most people can expect to live at least 20 years after they retire. However, according to the Employee Beneﬁt Research Institute, two out of three people have not even calculated how much they will need to retire, and among those who have, many have discovered that their nest eggs are not yet adequate. But take heart, its never too late (or too early) to start saving for retirement. We will be CLOSED Now is the time to sock away some extra cash, so you will have more later. (Income and other guidelines apply – seek advice from your professional tax Monday, January 15th preparer.) You will have until April 15, 2007 to open an IRA account and still in honor of be able to deduct it on your 2006 tax return. Martin Luther King, Jr. Day Here at the Teachers Credit Union, we offer several different IRA options. There is the Traditional IRA, which makes Cleveland/Bradley County Teachers Federal Credit Union sense if you want a tax deduction now P.O. Box 4168 or if you think you will be in a lower Cleveland TN 37320-4168 tax bracket when you retire. There is Phone: (423) 479-6392 also the Roth IRA for folks who don’t Fax (423) 476-5262 Email: email@example.com need the tax break now and want www.cbctfcu.com more ﬂexibility to withdraw regular contributions at any time, tax-free Employees: and with no penalty. Brian Trotter, Manager/CEO Mary Johnson, Loan & Ofﬁce Mgr. We also offer the Accumulative IRA and Nancy Trotter, Bookkeeping Spc. IRA Certiﬁcates. The IRA CD’s are paying Karen Gladson, Loan Ofﬁcer pretty good interest, so now’s the time to Leslie Sims, Accountant Susan Hartsell, Member Service Rep consider your future. Janice Hughes, Marketing Director For more information about opening a credit Debbie Maxwell, Member Service Rep union IRA, or adding to an existing IRA, contact Matt Carson, Member Service Rep Abe Sarmiento, Member Service Rep Nancy or Susan at the credit union today. Ofﬁce Hours: Monday-Friday 9:00am - 5:00pm Happy New Year! Members Love What’s In Your Future? Our Coin Counter It’s been with us for over six months and our members really love it! Yet, we still have some members that don’t know it’s here. What is it? It’s a huge “time-saver”. Tired of counting and rolling all those coins? Well we have the solution!! Our Coins to Cash machine counts all that loose change for you. Simply pour in your assortment of coins and the machine will sort it and count it. Don’t worry if you have thrown in foreign coins, buttons, or tokens, the machine will set aside those items and return them to you. It will then total Retirement is the moment when The Teachers Credit Union advantage: your coins and give you a receipt. Take your best life begins. Your dreams We want to help you make the most the receipt to any one of our tellers of retirement may include plenty of every dollar, so we offer a variety for deposit into your account or cash of golf, time spent with the family of investment choices, complete redemption. and friends, worldwide travel, or security with federal insurance, even a new career. No matter what This is a FREE service to all our great rates, and friendly local you’ve got in mind, an Individual members. service. Retirement Account (IRA) at the Cleveland/Bradley County Teachers You can open an IRA and build your Federal Credit Union can help make account with automatic transfers those dreams come true. or payroll deduction. If you are retiring or changing jobs and you The best way to save: have an account you’d like to roll An IRA provides tax beneﬁts you over, we can help with that too. just won’t ﬁnd with a regular From the initial planning stages to savings or investment account. By the day you ﬁnally retire, we are combining these tax advantages there for you. For more information and our solid rates, you will really about IRAs, come in or give us a come out ahead. call and speak with Nancy or Susan. Accounts to ﬁt your needs: We offer Traditional and Roth When one door closes another accounts, so you can choose the door opens; but we so often look program that best ﬁts your goals. so long Traditional IRAs – If you qualify, and so you can deduct your contributions regretfully from your taxable income. Non- deductible Traditional IRAs are upon the also allowed. In both cases, your closed earnings will grow tax-deferred. door, that Roth IRAs – These popular accounts we do not provide tax-free earnings, with see the tax-free withdrawals allowed ones which under speciﬁc circumstances. open for Contributions are made with after- us. -- tax dollars, and since a Roth IRA has no required withdrawals, you Alexander can continue to accumulate tax-free Graham earnings as long as you like. Bell Employee Spotlight ~ Happy 7th Anniversary Safe Deposit Boxes Brian Trotter, was born at Bradley Memorial Hospital to Jerry and Nancy Trotter, grew up on a farm right here in our wonderful Cleveland, and graduated from Bradley Central High School in 1984. He came to the Teachers Credit Union in December of 1999 as the Marketing Manager, and later assumed the CEO/General Manager position in September 2001. Brian has 18 years of ﬁnancial experience, and a background in advertising. You may have heard his We currently have a variety of safe voice on local radio stations, and deposit boxes available. A safe deposit seen him at various Chamber events, box is a secure place to store any as well as Leadership Cleveland ventures. personal items, important documents, Brian and his lovely wife, Michele, have four children, Titus, Chaela, Micah, and valuables that would be difﬁcult and Cali. And we must mention the long-time family pet, Diamond, a toy or impossible to replace if lost or poodle. destroyed. Brian enjoys the Atlanta Braves and Tennessee football games. But you may Our safe deposit boxes come in a see him regularly at Bradley High ball games where his youngest daughter Cali variety of sizes and are very affordable. is a cheerleader. The 3x5 is $20 per year. The 3x10 is $33, the 5x10 is $55, and the 10x10 is Brian takes a lot of teasing about “not working” or “not being here”, but in $90 per year. reality, he is on duty 24/7. He has even been called at one o’clock in the morning by a member who wanted to let him know that the website was For information on how you can have down! It is not unusual to see Brian strolling across the parking lot, picking your very own safe deposit box, call up trash that has blown in or been dropped. Brian cares about the credit Susan Hartsell at the credit union at union and he cares about people. 479-6392. The employees have a lot of fun working for Brian, and value him as an employer. He is a very caring and considerate person. Please take the opportunity to let Brian know that he is appreciated. Financial Counseling Starting in January 2007, the Teachers Credit Union will begin offering Financial Counseling as part of the members’ services. Mary Johnson, who recently became a Certiﬁed Financial Counselor, will be scheduling appointments for those who would like to take advantage of this service. Mary will help you set a customized budget to live by. She will show you various methods of paying down your debt, how to get out of debt, and how to avoid bankruptcy. Not only will she share how to get out of debt, she will teach you how to save, build a retirement fund, and plan for your future ﬁnancial needs to be met. “Opportunity is missed by most people If all this sounds like something that you because it is dressed in overalls and could beneﬁt from, call Mary and schedule looks like work.” your appointment today. Thomas A. Edison (1847 - 1931) $ Loan Rates All Rates subject to change Call for current rate information SHARE SECURED UNSECURED 3.00 % 13.00 % POP LOAN Line of Credit 48 mos. 13.00 % CBCTFCU Annual Meeting - See You There NEW CARS, TRUCKS, VANS 100% of actual purchase price. Never been titled and has less than 15,000 miles Base Rate 8.00% Up to 72 Months Base Rate 7.75% Up to 60 Months Base Rate 7.25% Up to 48 Months The Annual Meeting of the Board of Directors and the Membership is scheduled for Tuesday, February 20, 2007. Please note that the Credit Union will close at 2:30 pm NEW CAMPERS, TRAILERS, MOTOR HOMES that day. The meeting will start at 4 pm in the cafeteria of Cleveland High School. We 90% of NADA Average Retail or Purchase encourage all members to attend. Without your input, leaders can only guess what you Price (whichever is less) and other owners want from your credit union. Base Rate 8.75% Up to 60 Months If you would like to serve as an elected ofﬁcial, or on one of the committees, please Base Rate 8.50% Up to 48 Months contact Brian Trotter by January 30, 2007. No nominations will be accepted from the ﬂoor during the meeting. USED CARS, TRUCKS, VANS In addition to regular voting at the meeting, members in good standing may vote at 100% of NADA Average Retail on Purchase the Credit Union ofﬁce on Monday, February 19, 2007 from 9:00 a.m. to 4:00 p.m. This Price (whichever is less) will give everyone an opportunity to vote, even if you can’t attend the Annual Meeting. Has been titled or has more than 15,000 miles The winners will be announced at the Annual Meeting. In case of a tie, a vote of the members present at the meeting will determine the winner. Base Rate 7.75% Up to 60 Months So plan to join your fellow CBCTFCU members, employees, and volunteers for an Base Rate 7.25% Up to 48 Months afternoon of information, fun, fabulous door prizes, and cash prize drawings. Everyone Base Rate 7.75% Up to 36 Months attending will receive a thank you gift. Rates will be quoted and advertised using the base rate, however you may be offered a lower or higher rate depending on your credit history. FIRST MORTGAGE (Fixed) 80% of appraised value or purchase price (whichever is less) Enhanced Authentication Up to 20 Years 6.25% Up to 15 Years 6.00% At CBCTFCU, we take online security Up to 8 Years 5.75% seriously. Therefore, we are introducing Up to 5 Years 5.75% Enhanced Authentication for your Virtual Branch Online Banking. SECOND MORTGAGE (Fixed) • What is it? 80% of appraised value or purchase price (whichever is less) It is a new tool that provides extra Up to 15 Years 7.75% protection for your online data and helps Up to 5 Years 7.50% guard against fraudulent online activities like phishing scams and identity theft. Home Equity (Variable) • How does it work? Up to 15 Years 6.00% In addition to your Login ID and Security Code, the system recognizes your computer and usage patterns. If a questionable login attempt is detected, the system will 4th Quarter 2006 Savings Rates require additional identity veriﬁcation before allowing access. • Do I have to use it? Annual Percentage Annual Percentage Yes, everyone will be required to use Enhanced Authentication. RATE YIELD • How does it protect me against phishing? 1.00% 1.00% When you enroll in Enhanced Authentication, you choose a secret image and phrase Regular Share Accounts .50% .50% combination. You will see this image and phrase each time you log on. When you Share Draft Accounts Christmas Club 1.25% 1.26% see your secret image and phrase, you can be assured that you are logging in to your IRA Accumulations 1.75% 1.76% actual Virtual Branch site.
Pages to are hidden for
"IRA's"Please download to view full document