What’s New
IMPORTANT ~ SCAM ALERT
Putnam FCU will NEVER ask you to provide your PIN or any other personal information in order to verify or reactivate a Credit Union Visa, Debit or ATM card. If you receive an email or text message asking you to provide personal information, please do not respond to it. Putnam FCU will never contact you in this way. Should you accidentally provide your PIN or other personal information, please call our office immediately at (845) 225-8962.
Energy Loans Available
Outside the temperatures are getting colder, so heating costs are rising. Back by popular demand is the PFCU Energy Loan for Putnam County residents. This program allows current or new PFCU members to borrow up to $3,000 with a fixed rate as low as 8.99% APR to cover the cost of home heating this winter. The loan is available for any energy-saving purchase, including:
• Heating oil, propane, wood or pellets.
• A wood or pellet stove.
• Replacement doors, windows, insulation or weather stripping.
Last year, residents used this low-rate financing to help with utility bills or to pre-pay oil/propane purchases (and lock in a lower rate). Loans are available through March 31, 2010, with payments spread over 12 months. Call us for more information.
Check Out our Newest Online Banking Service
E-Statements ~ NOW AVAILABLE
Sign up for NEW E-Statements and conveniently print your Putnam FCU account statements from your own computer. E-Statements are the quickest and safest way to view your monthly statements.
-
On the first day of the month, you will receive an e-mail letting you know that your statement is online. That's at least one week before mailed statements arrive.
-
View your account statements online in a secure environment, 24/7, then save them to a folder on your computer for record keeping.
-
Don't put your financial information in print where it's vulnerable to prying eyes. Save a tree and reduce paper waste.
-
E-Statements save the Credit Union resources so we can pass on more savings to you.
To sign up for the convenience of E-Statements, log on to Home Banking, choose Self Serve, and click on the "E-Statements Enrollment" link.
Tax Time Assistance
- TAX LOAN ~ Get the money you need for your tax bill, in one easy step. We offer low fixed rates, starting at 8.99% APR with affordable monthly payments evenly distributed over 12 months.
- DIRECT DEPOSIT ~ If you’re one of the lucky ones getting a refund, be sure to complete the Direct Deposit line on your tax form to get your refund sooner and include our routing number: 221975024.
- 2009 IRA CONTRIBUTIONS ~ You may make a contribution to your PFCU IRA account through April 15, 2010. If you haven’t already made the maximum contribution, this may reduce your 2009 tax liability (consult a tax advisor).
Prepare, Print and E-file FREE with TurboTax Federal Free Edition and
Get Your Maximum Refund Guaranteed!
As a Putnam FCU member, you can file your simple return FREE with TurboTax® Federal Free Edition and get your biggest tax refund possible in as few as 8 days when you e-file and use direct deposit. Get started now FREE!
TurboTax makes it easy to get more money in your pocket at tax time:
- Special guidance for first time users. TurboTax walks you step-by-step through your entire tax return with guidance designed specially for people new to tax software.
- All the help you need. If you have questions TurboTax makes it easy to get all the answers.
- Maximum refund guaranteed or your money back.
TurboTax is the most trusted brand of tax software in America and can help you make this your easiest tax year yet. Start your return today FREE! Go to: http://turbotax.intuit.com/affiliate/putnam2.
Putnam FCU Mourns Board Member, Fran Hallisey
Please join us in mourning the loss of Frances A. Hallisey, a dedicated member of the PFCU Board of Directors, who passed away in October. Fran’s passion for our Credit Union started when she joined the Board while working for the Carmel School District in 1970. Through the years, she served on our Supervisory Committee and Board of Directors, participating on many committees. Fran represented PFCU members with dedication and integrity.
In addition to the PFCU Board, Fran also served as a Trustee on the Board of the Kent Public Library and she was a volunteer reader in the Kent Schools. “Fran had a heart of gold and truly lived the credit union difference. Her unwavering commitment to our members and this Board helped shape PFCU into what it is today,” said PFCU Board Chairman, Albert Witte.
Celebrating 52 years of marriage to husband Ed – Fran was a proud mother of four children and grandmother of seven. She will be greatly missed by everyone who had the great opportunity to know her!
IMPORTANT NOTICE: Funds Availability Policy Change ~ Feb 27
The Federal Reserve Board has finalized efforts to consolidate check processing sites due to the significant decline in the volume of paper check processing. As a result, funds from certain check deposits will be subject to a faster availability schedule. Effective February 27, 2010, the Putnam Federal Credit Union Funds Availability Policy Disclosure is amended as follows:
AVAILABILITY OF OTHER CHECK DEPOSITS — The first $100 from a deposit of other checks will be available by the first business day after the day of your deposit. The remaining funds will be available by the second business day after the day of your deposit. For example, if you deposit a local check of $700 on a Monday, $100 of the deposit will be available by Tuesday. The remaining $600 will be available by Wednesday.
LONGER DELAYS MAY APPLY — We may delay your ability to withdraw funds deposited by check into your account an additional number of days for these reasons:
• We believe a check you deposit will not be paid.
• You deposit checks totaling more than $5,000.00 on any one (1) day.
• You deposit a check that has been returned unpaid.
• You have overdrawn your account repeatedly in the last six (6) months.
• There is an emergency, such as failure of communications or computer equipment.
We will notify you if we delay your ability to withdraw funds for any of these reasons, and we will tell you when the funds will be available. They will generally be available no later than the seventh business day after the day of your deposit. Please contact us at (945) 225-8962 if you have questions regarding this change.
43rd Annual Meeting
Mark your calendar to plan to attend our 42nd Annual Meeting on Tuesday, May 18th at 4 pm. The meeting will be held in PFCU’s Carmel branch.
Has your Credit Card Rate Increased?
You may have had an increase in your credit card interest rate and not even noticed it.
According to the Wall Street Journal (April 9, 2009), Bank of America, Citigroup Inc, J.P. Morgan Chase & Co, and American Express have all implemented rate increases for millions of customers in recent months. Originally, the target was consumers with ‘less-than-perfect’ credit, but now they’re after a broader range of customers who have good credit records, but carry a balance. In anticipation of the pending legislation, many card issuers are raising rates, reducing credit lines, and closing accounts.
This is a good time to remind you about the Putnam FCU VISA cards (Classic or Gold). These uncomplicated cards have no hidden rate hikes, fine print or other sneaky gimmicks. Our VISA cards ALWAYS offer great, money-saving features:
Don't let issuers with high-rate cards take advantage of you! Get all the perks and the best deal by choosing PFCU’s low-rate credit card. Just apply for a PFCU VISA card and we’ll help transfer your other credit card balances upon opening your account. For more information, call our Loan Department at (845) 225-8962.
Click here for disclosures
Energy Loans Available
After last winter, we know that the rising cost of utilities has become a serious concern. Many homeowners struggled to keep their houses warm. For a limited time, Putnam FCU is offering a special Energy Loan with a fixed interest rate as low as 8.99% APR*. Use this low-rate financing to help with utility bills, or even prepay oil/propane purchases to get a lower price. Spread your payments over 12 months and borrow up to $3,000 for fuel or energy-efficient home improvements. For more information, give us a call.
Click here for disclosures
Stop In For a Car Loan....Before you Visit the Car Dealer
A pre-approved loan will help you purchase a car that fits your lifestyle with payments that fit your pocketbook. And because of our low loan rates on new and used vehicles, you'll get more car for your money. While you're at Putnam FCU, our loan officers can steer you to car-buying information to help you -- not the dealer -- drive your deal. With that kind of ammunition and our great vehicle rates, nothing can stop you from driving the best deal around.
INVEST IN AMERICA ~ The Savings Keep Growing for PFCU Members
Putnam FCU is proud to be a participant of Invest in America. Invest in America is a membership enhancement program that offers our members discounts on products and services provided by U.S. based companies. This partnership not only gives our members’ valuable discounts, but it also increases sales for our participating companies and, on a larger scale, helps stimulate the U.S. economy. Basically, Invest in America is a win‐win for everyone. As a member of Putnam FCU, you can receive the following money-saving discounts*:
• General Motors is making their Supplier Pricing available to members on most new GM vehicles. This discount is on top of other current incentives.
• Chrysler Group LLC is offering Affiliate Rewards preferred pricing on most new Chrysler, Jeep, Dodge or Ram Truck vehicles, saving you thousands. This discount is on top of other current incentives.
• Sprint has a 10% discount on personal wireless accounts and 15% off of business accounts. They are also waiving application and upgrade fees and giving other substantial discounts on phones and accessories.
• Allied is offering member discounts on local moving and storage and a minimum of 60% off of out‐of‐state moves, plus deals on various other moving extras.
• FTD is giving members $15 off of flowers and gifts. You can choose from items like roses, Vera Wang exclusive floral designs, spa sets, chocolates, wine baskets and so much more.
• CU Benefits Express has discounts ranging from 5% to 70% on medical and lifestyle products. Medical services include dental care, vision care, medical supplies, mail order prescriptions and more. Lifestyle services range from discounts on ID theft protection and a financial helpline to legal services and participating fitness centers.
• CompleteTax, your complete tax solution, is a cost-effective alternative to products like TurboTax. Members get 30% off of the software, which is used by CPAs and tax professionals.
• Equity LifeStyle Properties brings the best in resort living and vacations to help you get out and live the dream! With more than 300 resort destinations and award winning communities across America, you can now receive exclusive discounts from owning your own American built vacation home to exploring all the beautiful destinations our country offers in your RV.
Putnam FCU is here to help our members save with respected U.S. companies at a time when everyone needs it most. To learn more about Invest in America and any of the above discounts, speak to a member representative or visit LoveMyCreditUnion.org.
*Details and restrictions on discounts from the following companies can be found at LoveMyCreditUnion.org: Chrysler Group LLC, General Motors, Sprint, Allied, FTD, CU Benefits Express, ELS Properties and CompleteTax. Offers valid as of 1/1/10.
General Motors
With the Credit Union Discount From GM, GM is offering all current and eligible credit union members their supplier pricing on top of their most current incentives. Get started on your road to extra savings with the Credit Union Discount From General Motors by click the link above and following the instructions to register with GM. You’ll need to specify Putnam FCU on the applicable drop down menu when registering.
Chrysler, Jeep, Dodge, or Ram Trucks
Chrysler, Dodge and Jeep are offering credit union members up to an additional $1,000 on top of all current incentives. Before you head out to your local Chrysler, Dodge or Jeep dealer, review the list of vehicles available for the incentive. Once at the dealer, just let them know you are financing your new vehicle through Putnam FCU.
Participating Local Dealers -- Get your special pricing at the following local dealers:
Putnam County
- Brady Stannard Chevrolet Cadillac, Brewster
- Meadowland Chrysler Dodge GMC Pontiac, Carmel
- Smith Cairns Jeep, Brewster
Westchester County
- Bill Volz Chrysler Dodge Jeep, Cortlandt Manor
- Taconic Chevrolet, Yorktown Heights
Dutchess County
- Amenia Motors, Amenia
- Audia Motors, Millbrook
- Brownell Motors, Fishkill
- Dutchess Dodge Chrysler Jeep, Poughkeepsie
- Galleria Cadillac Chevrolet, Poughkeepsie
- Healey Chevrolet, Beacon
- Healey Chrysler Dodge Jeep, Beacon
- Hudson Pontiac Buick GMC, Poughkeepsie
- Hyde Park Motors, Hyde Park
- Ketcham Motors, Fishkill
- M & S of Pawling, Pawling
- Ruges Chrysler Dodge Jeep, Rhinebeck
- Saturn of Poughkeepsie, Poughkeepsie
Orange County
- Barton Birks Chevrolet, Newburgh
- Bernicker Dodge, Cornwall
- Chrysler Jeep Dodge of Warwick, Warwick
- Colandrea Pontiac Buick GMC, Newburgh
- Collier Motors, Ellenville
- Country Chevrolet, Warwick
- Country Saab, Florida
- DG Pontiac, Port Jervis
- Fulton Chevrolet Cadillac, Middletown
- LJ Marchese Chevrolet, Fort Montgomery
- Newburgh Park Motors, Newburgh
- Port Jervis Auto Mall, Port Jervis
- Rallye Auto Plaza, Monroe
- WS Healey Chevrolet Buick, Goshen
Ulster County
- Heart Chevrolet, Kingston
- Kingston Pontiac Buick GMC, Kingston
- LT Begnal Motors, Kingston
- Sawyer Motors, Saugerties
- Young’s Motors, Milton
Sullivan County
- M & M Pontiac Buick Cadillac Chrysler Dodge Jeep, Liberty
Invest in America Program -- More than 238,000 Vehicles have been Sold
Since going nationwide in January 2009, over 881,000 Credit Union members have taken advantage of discounts and more than 238,000 vehicles have been sold. "In President Obama’s comments regarding Chrysler, the President encouraged people to buy American,” said David Adams, CUcorp CEO. “This is a time for consumers to take advantage of the incentives, support American companies, if they’re thinking about buying a car, and finance through a local credit union."
Home Loan Rates Have PLUNGED!
Our LOW Home Loan rates should put a smile on your house! Best of all, Putnam FCU has money to loan.
-
Refinance your existing mortgage ~ PFCU offers a wide variety of mortgage programs, including 15 and 30-year fixed rate plans. There’s no application fee, 5-day approvals, and easy online pre-qualification. Our professional staff is available to help you choose the perfect loan.
-
Home Equity ~ Borrow against the equity in your home. Choose between an adjustable rate Line-of-Credit and a fixed-rate loan. Financing is available up to 80% of the current appraised value (less the first mortgage balance). Interest may be tax deductible, so consult your tax advisor.
Use a lender you can trust, and get a home loan that you can live with for years to come. Act now to refinance or borrow for improvements! Call (845) 225-8962.
Click Here for Disclosures
FREE Financial or Portfolio Checkup Available
Today's economic times are difficult. Many people are confused about how to manage their investments and what to do about other important financial decisions. We're here to help!
Jack Smoot Jr., JD is a Registered Representative and Investment Advisor Representative of Lincoln Financial Advisors Corp. He is dedicated to helping you plan your personal investments and achieve your goals. He wants to help you reach your financial dreams by working with creative solutions, using his professional expertise and depth of knowledge. Schedule a FREE consultation with Jack in one of the PFCU office locations today!
Call PFCU at (845) 225-8962
to set an appointment.
Quick Links
Financial Tips for Turbulent Times
Whether you're an older worker with seemingly few options to recoup significant investment losses, or a younger worker with minimal or no investment savings at all, don't let the financial crisis scare you into not taking any action at all.
Take stock of your situation, learn from others' mistakes, and don't panic or pull all your money out of the stock market. Formulate a plan by starting with the basics:
* Rebalance your portfolio. Do your investment choices reflect your risk tolerance and investment strategy?
* Keep some liquidity. Consider stashing some cash--perhaps three to six months' of living expenses--in a money market account at [name of credit union]-- which is insured to at least $250,000 by the National Credit Union Administration.
* Increase your contributions. Most stock prices are at low, bargain-basement levels. If possible, bump up your contribution.
* Diversify. Spread your wealth among a variety of investments: domestic, international, financial services, technology, health care, and so on.
* Use dollar-cost averaging. By having just $50 each paycheck automatically directed to a mutual fund, your contributions will purchase more shares when the price is low, and fewer shares when the price is high.
* Pay down debt. Reduce the choke-hold that credit cards have on your budget. Use the PowerPay principle: Pay off the highest interest-rate card first, and then apply that payment to the next-highest interest-rate card. Stop charging.
* Spend less. Identify needs vs. wants, and then set priorities. Many so-called needs actually are wants in disguise.
* Work longer. If you're close to retirement, consider hanging on to your current job longer than planned, if you can. Or, secure part-time work after retirement. This reduces the number of years you'll dip into your investments and helps build additional savings.
Putnam FCU is ready to help during these tough times. Call our Financial Services Group at (845) 225-8962, x1113.
How to Order a FREE Copy of Your Credit Report
We recommend that you review a copy of your credit report each year to look for inaccuracies, detect identity theft, and reduce delays in loan qualification. If you find erroneous information, contact the appropriate reporting bureau to make corrections immediately. Here are a few ways to check your report:
1) www.annualcreditreport.com
2) Call 877-322-8228.
3) Contact the "Big 3" credit bureaus: Equifax (www.equifax.com) 800-685-1111; Experian (www.experian.com) 888-397-3742; or TransUnion (www.transunion.com) 800-888-4213.
A Good Place for Loans!
You already know that today's economy is the most challenging in our lifetimes. We at Putnam FCU can help you to meet your personal finance challenges. Amid the gloomy headlines about home sales and mortgages, and the economy in general, PFCU continues to be a source of good news—and good loans.
The reason is simple, and comes from the credit union difference. Lenders accountable to stockholders must generate earnings to pay those investors. Not-for-profit credit unions are owned by their members—you and other consumers—and thus have no motivation to maximize profits at the expense of borrowers. Instead, PFCU makes responsible loans at fair rates.
A PFCU Loan Officer has no wish whatever to put you or other borrowers into home loans that are not in your best interest. We work for a situation where everyone wins. And Putnam FCU is lending! I invite you to use your Credit Union. Call or stop in to discuss your concerns – whether it’s a need for credit lines, ways to save with insured savings vehicles, or how to make the most of your paycheck. Thank you for your continued business!
Privacy Notice
Putnam FCU, your member-owned financial institution, is committed to providing financial products and services to meet your needs and help you reach your financial goals. We are equally committed to protecting your privacy - be assured that your financial privacy is a priority of this credit union. Each year, we are required by law to provide this privacy notice to explain how we collect, use and safeguard your personal financial information.
Information We Collect and Disclose About You
We collect nonpublic personal information about you. This information comes from the following sources:
- Applications and other forms.
- Credit union transactions.
- Consumer reporting agencies.
- Current or past employers, or other institutions where you conduct financial transactions when we verify the information you provide to us in an application or other form.
We may disclose all of the information we collect, as described previously and as permitted by law, to companies that perform marketing services on our behalf or other financial institutions with whom we have joint marketing agreements. To protect our members' privacy, we only work with companies that agree to maintain strong confidentiality protections and limit the use of information that we provide. We do not permit these companies to sell the information that we provide to other third parties.
To conduct credit union business, we may also disclose nonpublic personal information about you under other circumstances as permitted or required by law. These disclosures typically include information to: process transactions on your behalf, conduct the operations of our credit union, follow instructions you have authorized, or protect the security of our financial records.
If you terminate your membership with Putnam FCU, we will not share information we have collected about you, except as permitted or required by law.
How We Protect Your Information
We restrict access to nonpublic personal information about you to those employees who have a specific business purpose in utilizing your data. Our employees are trained in the importance of maintaining confidentiality and member privacy. We maintain physical, electronic, and procedural safeguards that comply with federal regulations and leading industry practices to safeguard your nonpublic personal information.
What You Can Do to Help Protect Your Privacy
Putnam FCU is committed to protecting the privacy of its members. You can help by following these simple guidelines:
Protect your account numbers, card numbers, PINs (personal identification numbers) and passwords. Never keep your PIN with your debit or credit card - it can provide free access to your accounts if your card is lost or stolen.
Use caution when disclosing your account numbers, social security numbers, etc. to other persons. If someone calls you, explains the call is on behalf of the credit union and asks for your account number, you should beware. Official credit union staff will have access to your information and will not need to ask for it.
Keep your information with us current. It is important that we have current information on how to reach you. If we detect potentially fraudulent or unauthorized activity or use of an account, we will attempt to contact you immediately. If your address or phone number changes, please let us know.
Should you have any questions about Putnam FCU's Privacy Policy as described above, please call a Member Service Representative at (845) 225-8962.
Start an Energy Diet: Save Money Around Home
The typical American family spends $1,600 per year on energy at home. Here are some "biggest-bang-for-your-buck" techniques for saving money on energy:
1. Maximize the use of daylight. Use "task lights" to illuminate only the area you need to light. Install motion detectors in the garage, basement, or bathroom. Shut off unneeded incandescent lights immediately after use. Shut off fluorescent bulbs when they will not be needed for 15 minutes. Shut off your computer and monitor when they will be idle for more than two hours (computer) or 20 minutes (monitor).
Compact fluorescents bulbs (CFLs) screw into the same fixtures as incandescents, but are three to four times more efficient. A CFL comparable to a 100-watt incandescent would save $63 during the bulb's 4.5-year lifetime.
2. Check wattage. The wattage label on the bottom or back of an appliance describes its electricity consumption, but high-wattage equipment that runs only briefly—for example, a hairdryer—will use fewer kilowatt hours than products like space heaters, which run for long periods.
A refrigerator built before 1993 is ripe for replacement with a newer, higher-efficiency model. The federal Energy Star label identifies high-efficiency appliances and electronics. Air-dry dishes instead of using the heated drying cycle, and run dishwashers and clothes washing machines only when full. Save hot water by substituting short showers for baths.
3. Perform basic maintenance.
Install an insulating blanket on older water heaters, and insulate all accessible air ducts and hot-water pipes. Replace furnace filters, and get a tune-up on your furnace or boiler every couple of years.
4. Set back the thermostat. If you set a programmable thermostat "back" (cooler in winter and warmer in summer) for eight hours, you can save around 10% on your annual heating and cooling bills.
5. Get the tax credit.
High-efficiency furnaces and boilers are among many energy improvements on existing homes that are eligible for a federal tax credit through the end of 2007. Other qualified improvements include insulation, windows, exterior doors, circulating fans, and solar heating and photovoltaic systems.
6. Schedule an audit. During a home energy audit, an expert examines your house with a thermographic scanner and a blower door, which detect leaks through different methods. Visit the Department of Energy's Web site at energy.gov for more information about energy audits.
Putnam FCU is ready to help with all of your home improvement needs. Give us a call today at (845) 225-8962.
|
