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T Put Some Sizzle in Your Summer - SchoolsFirst Federal Credit ...

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Orange County Teachers<strong>Federal</strong> <strong>Credit</strong> UnionAUGUST 2001<strong>Put</strong> <strong>Some</strong> <strong>Sizzle</strong><strong>in</strong> <strong>Your</strong> <strong>Summer</strong>There’s still time to put some sizzle <strong>in</strong> your summer. All you need is yourimag<strong>in</strong>ation and an OCTFCU Visa, and you’ll receive our special 7.9% APR †on purchases through August.Go ahead and take that tropical vacation, purchase those back-to-school clothesfor the kids or throw a Labor Day block party. We’ll keep you cool with our specialrate, which also applies to any purchases you made with your OCTFCU Visa <strong>in</strong> July,but does not apply to balance transfers or cash advances. And, this rate will rema<strong>in</strong><strong>in</strong> effect on your summer purchases until the promotional balance is paid <strong>in</strong> full.You can use your OCTFCU Visa just about anywhere to receive this great rate:◆ Restaurants◆ Retail Stores◆ Airl<strong>in</strong>es◆ Hotels◆ Gas StationsIf you don’t already have an OCTFCU Visa, why not open an account?Even without this special promotion, an OCTFCU Visa featuresextremely competitive rates start<strong>in</strong>g as low as 10.9% APR. *Apply TodayYou can apply for an OCTFCU Visa 24 hours a day, seven days a week,at www.octfcu.org or by call<strong>in</strong>g 714/258-4300 or 800/562-6724.† APR=Annual Percentage Rate. Promotional 7.9% APR is validfor new purchases only between July 1, 2001 and August 31, 2001.Rate is not applicable to balance transfers or cash advances. The7.9% APR will apply to all promotional purchase balances untilthe promotional balance is paid <strong>in</strong> full. Payment will be appliedfirst to f<strong>in</strong>ance charges, fees, promotional balance andregular balance.* OCTFCU has a credit card program that features three<strong>in</strong>terest rates. Visa rates are 10.9% APR, 12.9% APR or15.9% APR and are based upon a variety of factors,<strong>in</strong>clud<strong>in</strong>g the applicant’s credit rat<strong>in</strong>g and OCTFCU accounthistory. Rates are current as of July 23, 2001, and are subjectto change.InformativeF<strong>in</strong>ancialWorkshopsAvailable


<strong>Credit</strong>Everyone’s been there. You’re stand<strong>in</strong>g <strong>in</strong> l<strong>in</strong>eat the grocery store, you swipe your OCTFCUMasterMoney debit card through thepo<strong>in</strong>t-of-sale term<strong>in</strong>al, and the cashier asks“credit or debit?”Whichever option you choose, the purchasewill be deducted from your check<strong>in</strong>g account,and it will still be detailed <strong>in</strong> your monthlystatement. However, there are someimportant th<strong>in</strong>gs to know before choos<strong>in</strong>g“credit” or “debit:”Presswhen you want to:◆ Avoid hav<strong>in</strong>g to enter your PersonalIdentification Number (PIN) <strong>in</strong> public. Thecashier will give you a receipt to sign <strong>in</strong>stead,just as though it were a credit card transaction.◆ Strengthen your dispute rights. When youuse your MasterMoney debit card for asignature transaction, you automatically havedispute rights. That’s because MasterMoney offers charge-back protection under certa<strong>in</strong>circumstances if you have a problem withmerchandise purchased with your card.◆ Be cost-conscious. In general, credit transactionsare more efficient and less costly than debittransactions. The money that the credit union saves<strong>in</strong> credit transactions is returned to you <strong>in</strong> the form ofhigher sav<strong>in</strong>gs rates and lower loan rates. In addition,some vendors charge you a small fee each time you usethe “debit” option.PressCREDITDEBITwhen you want to:◆ Get cash back. You’ll also save a trip to theAutomated Teller Mach<strong>in</strong>e (ATM).◆ Not have to sign a receipt.Vs. Debit?Vs.The OCTFCU MasterMoney debit card isfree and available for Members with an OCTFCUcheck<strong>in</strong>g account. To request your debit card, callour Telephone Service Center Monday throughFriday, from 7 a.m. to 7 p.m.Go Onl<strong>in</strong>e for Auto Loansand Insurance QuotesAuto loans and <strong>in</strong>surance quotes are now available onl<strong>in</strong>e. Simply visitwww.octfcu.org, and <strong>in</strong> a matterof m<strong>in</strong>utes, you can:◆ Apply for an OCTFCU newor used auto loan◆ Get a quote for <strong>in</strong>surance on thecar you wish to purchase◆ Determ<strong>in</strong>e your comb<strong>in</strong>ed monthlycar and <strong>in</strong>surance paymentWith OCTFCU, you know you’regett<strong>in</strong>g a great rate on your autoloan. And now, with oursubsidiary, Member InsuranceServices, you can be assured ofgett<strong>in</strong>g a great rate on your<strong>in</strong>surance, too. Our personal<strong>in</strong>surance agent will searchdozens of <strong>in</strong>surancecompanies to get you themost competitive quote.If you don’t have access toa computer, apply over thephone by call<strong>in</strong>g 714/258-4300or 800/562-6724. For an <strong>in</strong>surancerate quote, call 714/258-4309 or800/462-8328, extension 4309, Mondaythrough Friday, from 8 a.m. to 5 p.m.License #0581192How to Get anOnl<strong>in</strong>e QuoteTo apply for an OCTFCU auto loanonl<strong>in</strong>e, visit www.octfcu.org and:1. Select Onl<strong>in</strong>e Services from the menuat the top of your screen.2. Click on the Onl<strong>in</strong>e Applications l<strong>in</strong>k.3. Click on the Express Application l<strong>in</strong>kon the right and complete the application.To request an onl<strong>in</strong>e auto <strong>in</strong>surancequote, visit www.octfcu.org and:1. Click on the Insurance Services l<strong>in</strong>klocated under the Investments head<strong>in</strong>g.2. Click on the Auto and HomeInsurance l<strong>in</strong>k on the left panel.3. Complete and submitthe onl<strong>in</strong>e <strong>in</strong>surancequote request.Check Out Our Rates Onl<strong>in</strong>eMany f<strong>in</strong>ancial <strong>in</strong>stitutions won’t publish their rates onl<strong>in</strong>e. But atOCTFCU, we’re proud of the great rates we offer our Members. Youcan receive up-to-the-m<strong>in</strong>ute rate <strong>in</strong>formation on the follow<strong>in</strong>gproducts simply by visit<strong>in</strong>g our web site at www.octfcu.org:Loan Products Sav<strong>in</strong>gs Products◆ New and Used Auto ◆ Regular Share Sav<strong>in</strong>gs andCertificates◆ Mortgage and Home Equity◆ Individual Retirement Accounts◆ <strong>Credit</strong> Cards◆ Special Accounts (<strong>Summer</strong>◆ Student LoansSaver, Holiday Saver)◆ New and Used Recreational◆ Investment and HouseholdVehiclesCheck<strong>in</strong>gAnd more! Check out our rates today. You’ll f<strong>in</strong>d they are some of the best around.


7. 9% OCTFCU VISAAPR †<strong>Credit</strong> Union Membership AccessAct Celebrates Third AnniversaryA Message from the President/CEO, Rudy HanleyThe pass<strong>in</strong>g of H.R. 1151 on August 7, 1998 willalways have special significance to credit unions. Alsoknown as the <strong>Credit</strong> Union Membership Access Act,H.R. 1151 is a historic milestone for the credit unionmovement because it restored to credit unions theWhere people are worth more than money.power to provide Membership to select employeegroups. This not only made credit union Membership available for millions of Americanconsumers, but also ensured the long-term viability of credit unions.Many may not realize that the Member-owned f<strong>in</strong>ancial cooperative structure of creditunions was once seriously threatened by the efforts of the bank<strong>in</strong>g <strong>in</strong>dustry to limit creditunion Membership. However, because of credit union Members’ support nationwide, wewere able to defeat the bank<strong>in</strong>g <strong>in</strong>dustry through the pass<strong>in</strong>g of H.R. 1151 and, today, arecelebrat<strong>in</strong>g its third anniversary.We thank all of our supporters, especially those who contacted their representatives <strong>in</strong>support of H.R. 1151. A special thank you goes to all our Orange County representatives,<strong>in</strong> particular, Congressman Ed Royce and Congresswoman Loretta Sanchez, whoco-sponsored our bill. Today the credit union movement rema<strong>in</strong>s strong and has a brightfuture thanks to your effort and participation and our congressional representatives’ support.We are truly grateful.Member Investment Services“Here’e’s What Members Have e to Say“Thank you for offer<strong>in</strong>g f<strong>in</strong>ancial consult<strong>in</strong>g through the credit union. This is an <strong>in</strong>valuable service formany and I appreciate the ease of call<strong>in</strong>g my credit union and seek<strong>in</strong>g help through it. Even more, thankyou for employ<strong>in</strong>g such qualified and professional consultants.” G. Almeida“I thank you for your patience with ‘first-timers’ and for your <strong>in</strong>terest and enthusiasm, eventhough you do this every day. I thank you for your professionalism and encouragement and forserv<strong>in</strong>g us <strong>in</strong> such a personal way.” J. Visco Gray“It was through your f<strong>in</strong>ancial consultants’ knowledge and his shar<strong>in</strong>g of f<strong>in</strong>ancial tacticsthat I was able to make positive decisions and save a lot of money.” L. HotoppA subsidiary of the credit union, Member Investment Services (offered throughCUSO F<strong>in</strong>ancial Services, L.P) provides a full range of retirement and f<strong>in</strong>ancialplann<strong>in</strong>g services from qualified f<strong>in</strong>ancial consultants who share our goal of mak<strong>in</strong>gour Members’ lives better. For more <strong>in</strong>formation, call 714/258-4350 Mondaythrough Friday, from 8 a.m. to 5 p.m.Products offered by CUSO F<strong>in</strong>ancial Services, L.P. (CFS) are not NCUA/NCUSIF <strong>in</strong>sured,not credit union guaranteed and may lose value. F<strong>in</strong>ancial Consultants are employees ofMember Investment Services and registered through CFS. Member Investment Services isaffiliated with CFS, member NASD/SIPC.7.9% APR † on Purchases <strong>in</strong> July and AugustF<strong>in</strong>ancial WorkshopsOCTFCU is pleased to offer f<strong>in</strong>ancialworkshops for Members on a varietyof topics:Onl<strong>in</strong>e Bank<strong>in</strong>gLearn how to access your account<strong>in</strong>formation, view copies of yourstatements, cleared checks andmuch more through our onl<strong>in</strong>ebank<strong>in</strong>g system, CU@Home.August 14 2 p.m. - 3:30 p.m.Tust<strong>in</strong> Operations Center15442 Del Amo AvenueTo make a reservation, call ourTelephone Service Center at714/258-4000 or 800/4OCTFCU.InvestmentFundamentals *Learn how to evaluate yourf<strong>in</strong>ancial situation and identifyyour goals for improvedf<strong>in</strong>ancial success.August 15 1 p.m. – 2:30 p.m.Santa Ana Branch 2115 N. BroadwayRetirement Options forSchool Employees *For certificated or classifiedschool employees, this sem<strong>in</strong>arprovides an overview of 403(b)/457 plans. You’ll learn your<strong>in</strong>vestment options and how toestimate the cost of retirement tohelp you plan for a secure future.August 14 2 p.m. - 3:30 p.m.Santa Ana Branch 2115 N. BroadwayR.S.V.P. by call<strong>in</strong>g Member InvestmentServices at 714/258-4350. Or, click onthe Investments l<strong>in</strong>k at www.octfcu.organd enter the F<strong>in</strong>ancial Workshops section.* Products offered by CUSO F<strong>in</strong>ancial Services,L.P. (CFS) are not NCUA/NCUSIF <strong>in</strong>sured,not credit union guaranteed and may lose value.Member Investment Services is affiliated with CFS,member NASD/SIPC.


Bush Tax Cut Plan Offers IncreasedIRA and DCP Contribution LimitsOn June 7, 2001, President Bush signed <strong>in</strong>to law a tax cut plan thatprovides for <strong>in</strong>creased contribution limits for Individual RetirementAccounts (IRAs) and additional retirement plans. The new contributionlimits, which become effective <strong>in</strong> January 2002, will allow Members toenjoy greater tax-deferred sav<strong>in</strong>gs when plann<strong>in</strong>g for retirement.Traditional and Roth IRA contribution limits will <strong>in</strong>crease from $2,000 <strong>in</strong>2001, to $3,000 <strong>in</strong> 2002, or 100% of your adjusted gross <strong>in</strong>come–whicheveris less. Contribution limits will cont<strong>in</strong>ue to gradually <strong>in</strong>crease to a maximumof $4,000 per year <strong>in</strong> 2005, and $5,000 per year, beg<strong>in</strong>n<strong>in</strong>g <strong>in</strong> 2008. Inaddition, IRA holders, age 50 or older, may contribute an extra $500 each yearthrough the plan’s “catch-up” provisions, which will <strong>in</strong>crease <strong>in</strong> 2006 to $1,000.Education IRA contribution limits will also <strong>in</strong>crease from $500 <strong>in</strong> 2001, to$2,000 <strong>in</strong> 2002. Employees who participate <strong>in</strong> an employer-sponsoredretirement plan, such as 401(k), 403(b), 457 or SAR-SEP, will be able todefer more of their pre-tax <strong>in</strong>come, beg<strong>in</strong>n<strong>in</strong>g <strong>in</strong> 2002. Contribution limitswill <strong>in</strong>crease to $11,000 <strong>in</strong> 2002 and $12,000 <strong>in</strong> 2003. Contribution limitsfor the Deferred Compensation 457 Plan (DCP) will <strong>in</strong>crease from $8,500<strong>in</strong> 2001, to $11,000 <strong>in</strong> 2002, and will <strong>in</strong>crease $1,000 per year through 2006.Should you have questions regard<strong>in</strong>g the new contribution limits orwould like to open an OCTFCU IRA, please call our Telephone ServiceCenter Monday through Friday, from 7 a.m. to 7 p.m.OCTFCUTelephone Systemto Be UpgradedTo better serve our Members who callour Telephone Service Center, we arecurrently <strong>in</strong> the process of upgrad<strong>in</strong>g ourphone system. The upgrade will allow usto cont<strong>in</strong>ue provid<strong>in</strong>g quality service as well as more efficientlyroute the <strong>in</strong>creas<strong>in</strong>g number of calls we receive. We will cont<strong>in</strong>ueto improve our system <strong>in</strong> the upcom<strong>in</strong>g months and will provideyou with more detailed <strong>in</strong>formation <strong>in</strong> the September issue ofReport Card.A World of OpportunityAwaits Youat OCTFCUJo<strong>in</strong> a team that can take you to the top byattend<strong>in</strong>g OCTFCU’s Career Fair onSaturday, August 11, from 9 a.m. to 2 p.m.at our Tust<strong>in</strong> Operations Center(15442 Del Amo).Learn about excit<strong>in</strong>g career opportunitiesavailable <strong>in</strong> operations, <strong>in</strong>formation systems,lend<strong>in</strong>g, management and other key areas.On-site <strong>in</strong>terviews will take place so comeprepared to impress.In addition to the Career Fair, f<strong>in</strong>d out aboutcareer opportunities by:◆ Visit<strong>in</strong>g our web site at www.octfcu.org◆ Call<strong>in</strong>g our job hotl<strong>in</strong>e at 714/258-4000,extension 8129◆ Contact<strong>in</strong>g human resources Mondaythrough Friday, from 8 a.m. to 5 p.m., at714/258-4000, extension 8124C ALENDAR OFH OLIDAYS & EVENTSMonday, September 3(All OCTFCU branches closed)Monday, October 8(All OCTFCU branches closed)Thursday, October 18(All branches open)Labor DayColumbus DayInternational <strong>Credit</strong>Union DayH O W T O R E A C H U STelephone Service Center714/258-4000800/4OCTFCU (Toll Free)(800/462-8328)714/258-4251 (Fax)Mon.-Fri. 7 a.m. to 7 p.m.Web Sitewww.octfcu.orgTellerPhone714/258-4100800/540-4546 (Toll Free)TDD–TelecommunicationDevice for the Deaf714/258-422724-Hour ConsumerLoan Application Service714/258-4300800/LOANS 24 (Toll Free)(800/562-6724)Mail<strong>in</strong>g AddressP.O. Box 11547Santa Ana, CA 92711-1547Branch Locations Open Mon.-Thurs. 9-5 p.m. & Fri. 9-6 p.m.Anaheim1361 N. EuclidCypress6828 W. KatellaFounta<strong>in</strong> Valley18651 BrookhurstHunt<strong>in</strong>gton Beach7251 WarnerIrv<strong>in</strong>e5305 Alton ParkwayMission Viejo26440 La AlamedaNewport-Mesa450 E. 17thPlacentia377 E. ChapmanSanta Ana2115 N. BroadwayService Center LocationsCSUF Service Center–Second floor of Titan Shops. Call for hours.UCI Express Service Center–Next to bookstore. Call for hours.The Report Card is a publication of OCTFCU. Editorial questions and comments arewelcome. Please call the market<strong>in</strong>g department at 714/258-4000, ext. 8137.Editor, Shannon Young–Production Coord<strong>in</strong>ator, Elizabeth MorikawaWe do bus<strong>in</strong>ess <strong>in</strong> accordance with the <strong>Federal</strong>Fair Hous<strong>in</strong>g Law and the Equal <strong>Credit</strong>Opportunity Act.<strong>Federal</strong>ly <strong>in</strong>sured by NCUAWe Do Bus<strong>in</strong>ess <strong>in</strong> Accordance With the<strong>Federal</strong> Fair Hous<strong>in</strong>g Law and theEqual <strong>Credit</strong> Opportunity Act

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