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APRIL 2013
Branch Locations
ChambersburgWayne Avenue Office – 800 Wayne Avenue Federal Street Office – 140 S. Federal Street Gateway Avenue Office – 488 Gateway Avenue Letterkenny Office – 247 Overcash Avenue Waynesboro
Waynesboro Financial Services Center – 10933 Buchanan Trail East
Hagerstown North Pointe Office – 18721 Longmeadow Drive Contact Center Hours 717-263-4444 / 301-766-7328 / Toll Free 888-777-9982 ■ Monday-Thursday 8:00 AM – 5:00 PM ■ Friday 8:00 AM – 7:00 PM ■ Saturday 8:00 AM – 12:00 PM www.patriotfcu.org
If you are looking to buy a new home or refinance your current home mortgage, consider the easy process at great low rates at Patriot! With our dedicated mortgage team, you will find that funding your new home or completing a refinance means more money in your pocket.
Plus, if your new mortgage is over $50,000, you’ll earn a $500 rebate after it closes!
Want to know more about getting your first mortgage, see the article on page 2.
Great Financing and Refinancing
Mortgage Options
Efficient and Environmentally Friendly
Patriot’s E-StatementsGet organized and do your part to save a few trees by signing up for e-Statements, a safe and secure online option to access your credit union statement. E-Statements is one of the many features of e-BRANCH Home Banking. You’ll receive your statement in a digital format that allows for easy storage and retrieval of information. You may also enroll in e-LERTS, which enables you to receive customized notifications about your account via email. Visit us online at www.patriotfcu.org to add the e-Statements and/or e-LERTS option(s) to your account.
*Must apply between April 1, 2013 and June 30, 2013 to receive $500 rebate. To qualify for the rebate, the mortgage must be a minimum of $50,000. All loans subject to credit approval.
** Annual Percentage Rate. After 2/28/14, the rate on your loan will revert to the standard variable rate for a Home Equity Line of Credit (HELOC). That rate is currently as low as 3.97% APR and based on the Wall Street Journal Prime Rate which was 3.25% as of 03/01/13 plus 0%. The rate applies to credit scores above 734. Maximum APR is 18%. Maximum loan to value (LTV) 80%. Minimum $15,000 draw. This special offer does not apply to current Patriot HELOC accounts. Must have a checking account with active direct deposit or have had an active checking account for 6 months with deposits and debit charges. This is a variable rate loan product and your payment and rate are subject to change. See credit union for details. Member responsible for MD Recordation tax, amounts vary per county and amount borrowed. All loans subject to credit approval.
Like Money in
Your Pocket
Like Money in
Your Pocket
Earn a
$
500
Rebate*
Plan Now for College
With Affordable Financing from Student Choice Is someone in your family Is someone in your family headed off to college this Fall? headed off to college this Fall? Let Patriot Federal Credit Union Let Patriot Federal Credit Union help with affordable financing. help with affordable financing. Student Choice, our student Student Choice, our student loan* program, offers low rates loan* program, offers low rates and flexible repayment plans to and flexible repayment plans to
help fill in the gaps not covered by other funding sources. Visit
help fill in the gaps not covered by other funding sources. Visit www.patriotfcu.www.patriotfcu. studentchoice.org
studentchoice.org to learn more about student loan options for parents, to learn more about student loan options for parents,
undergraduates, and graduates. Then, apply online through our secure website. In undergraduates, and graduates. Then, apply online through our secure website. In most cases, you’ll get an answer within minutes.
most cases, you’ll get an answer within minutes.
Patriot’s Grad Pak
Ideal for Graduates
The Grad Pak at Patriot includes all the low-cost and The Grad Pak at Patriot includes all the low-cost and convenient financial services a young adult needs to become convenient financial services a young adult needs to become convenient financial services a young adult needs to become financially independent. It includes a Savings Account, Checking financially independent. It includes a Savings Account, Checking financially independent. It includes a Savings Account, Checking Account with a Debit Card and Direct Deposit*. Plus, Grad Pak Account with a Debit Card and Direct Deposit*. Plus, Grad Pak members receive a FREE GIFT when they open their account! members receive a FREE GIFT when they open their account!
*A parent or legal guardian is required as a joint owner on all *A parent or legal guardian is required as a joint owner on all youth accounts. The child’s social security number and birth youth accounts. The child’s social security number and birth date are required to open an account.
date are required to open an account.
*A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account.
Ahhh…
To Be Young
Take Me Out to the Ball Park
Family Night at Hagerstown Suns Baseball Game July 3! Watch for more details on this fun Patriot event for the whole family in our Your Money newsletter, as well as the next issue of Patriot Pals News and Patriot All-Stars Shout Out! Save the date because Patriot Pals (ages 0-12) and Patriot All-Star members (ages 13-17) will get one free ticket. Must be registered with Patriot as a Patriot Pal account or Patriot All-Star to get the free ticket. Parents and other family members will be able to get tickets at $5 each and a special $5 Value Meal at the park that night!
There will be fireworks and fun, so mark your calendar to be a part of the Patriot Family Night at the Ballpark!
Time to Set Up Their
Own Checking Account?
Patriot All Stars Checking*Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started.
Plan Now for College
Plan Now for College
Join Us on June 1 for
a Shred Fest &
Food Drive
Safely Dispose of Sensitive Documents 8:00am – Noon, Wayne Avenue Branch
To avoid identity theft, it’s important to safely dispose of any documents with account numbers, Social Security numbers or other personal or financial information by shredding them. Now you can clean out your filing cabinets and bring outdated paperwork to Patriot for secure shredding on June 1 from 8:00 AM – noon. We’ll have secure shredders on site to take care of it all for you. There is a limit of 3 boxes per member.
Canned Food Drive
Whether you shred or not, consider dropping off canned goods to participate in our food drive for a local food pantry. Any donations are a great way to help others in need.
After 2/28/14
HELOC As Low As
Through 2/28/14
1.99
%
APR**
3.97
%
APR**
Have Spring Home
Improvement Projects?
Make those projects more affordable with our amazingly easy Home Equity Line of Credit. With a rate as low as1.99%APR**, this discounted rate is good through 2/28/14 and the current rate is as low as 3.97 APR**.
*Subject to credit approval.
Smart Ways to Make the
Most of Your Tax Refund
5 Smart Things to Do with Your Tax RefundIt can be fun to take your tax refund and spend it on impulse purchases, but chances are you’ll regret it later. Instead, consider these options for some or all of your refund:
1 Pay Down Debt
Reducing or eliminating high interest rate debt is one of the best ways to utilize your tax refund.
2 Start or Add to an Emergency Fund
Avoid running up credit card balances for unexpected expenses by keeping extra cash on hand in your Patriot Savings or Money Market Account.
3 Open or Add to an IRA
This is a great way to save for retirement or education. Patriot can help you with a full range of IRA options.
4 Investment Options
Patriot can assist you in setting up a Certificate of Deposit* for your tax refund, or you can set up an appointment to speak with an Investment Advisor to discuss other options.
*Penalty for early withdrawal.
5 Home or Auto Maintenance
Be proactive and use your tax refund to take care of home or
auto repairs that may end up costing you more later.
For more information on all the seminars, visit
www.patriotfcu.org under the Member Resource Center.
Plan to Attend
the Annual
Membership
Meeting
Shopping for a Mortgage Loan?
What to Look for When Financing orRefinancing Your Home
For most people, a home mortgage payment is the largest chunk of their budget. So, it makes sense to shop around for the best deal. Here are some points to keep in mind:
How long do you plan to stay in your home?
With historically low rates, you may want to lock in your rate for the next 15, 20 or 30 years. However, if you know that you will be moving within a couple of years, you may be able to lower your rate even more with a variable rate loan that does not reset until after you plan on moving.
What is the reputation of the lender?
Who do you call if there’s a problem? What is their response time? When you call or visit, they should take the time to explain all the costs and the process of getting a loan. As a member of Patriot, you will receive personalized service and our representatives are not paid on commission so you can rest assured they will recommend a loan that is in your best interest.
What is the interest rate and term?
What is the Annual Percentage Rate (APR)? Is it fixed or variable? If it is variable, it is important to understand how often the rate can change, what indicator (index) is being used and how much is added to the index rate (margin). Typically there are also limits (ceiling and floor) on the rate.
What are the other fees?
With any real estate loan, there will be closing costs that include some or all of the following: appraisal, title search, document preparation, insurance and points (one point is equal to 1% of the loan). Call or stop by to learn more details about what the Mortgage Department is offering.
Page 2 Catch the Spirit of Financial Freedom
Take
Advantage of
a Free Financial
Education
Seminar
Hosted by Patriot Financial Services offered through CFS* Share Certificate: You Have More
Options Than You Think Thursday, April 25 at 6:00pm (Waynesboro)
For more information or to sign up for upcoming seminars, visit www.patriotfcu.org under the Member Resource Center tab.
A Financial Armor to Protect
Your Family and Assets
One of the first steps in protecting your family and assets financially is to ensure that you have the appropriate legal documents in place to carry out your wishes in the event of your incapacitation or death. Another is to set up an emergency fund that you can tap when unexpected events occur, without having to draw down your other assets. Still another is to ensure that you have sufficient insurance coverage.
In its various forms, insurance can recover the financial value of assets that are lost, stolen, or damaged. It can protect your assets from liability claims that may result from your own negligent acts. It can also pay medical expenses and replace some or all of your income in the event of your injury, illness, disability, or death. But did you know that insurance, particularly life insurance, can be a valuable tool in other ways to enhance your financial plan?
Depending on your situation, there are strategies that may be applied in retirement planning (much like a Roth IRA) to use after-tax dollars to build a tax-free retirement income stream. For those who have already retired, other strategies may be used in conjunction with existing IRAs (or your Required Minimum Distributions (RMDs) from those IRAs) to provide a tax-efficient transfer of assets to children, grandchildren, or other desired beneficiaries. These are just a sampling of the alternatives available to you.
Our CFS* advisors at Patriot Financial Services will work with your tax advisors to make sure the specific strategies you select are appropriate for you and your tax situation. Don’t wait any longer to begin exploring the innovative and tax-friendly financial planning solutions now available to you. Visit us today at www.patriotfcu.org and click on the Investment Center tab, or give us a call at 888-777-9982 to set up your appointment for a complimentary, no-obligation consultation at the branch nearest you.
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/ NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Patriot Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. CFS and its Registered Representatives do not provide tax advice, and do not, by providing tax-related information, hold themselves out to be “fiduciaries” of your tax-deferred plans. Clients should always check with their tax advisor before engaging in any transaction involving IRAs or other tax-advantaged investments.
More for Your
Financial Fitness
New “Specials” Tab on patriotfcu.orgHome Page
Do you want to save money? Check out our new “Specials” tab at the top of our home page. From special offers to coupons to our Preferred Partners, you will find great ways to stretch your hard earned cash!
Patriot Offices will be closed to observe the following holidays:
Memorial Day: Monday, May 27,2013 Independence Day: Thursday, July 4, 2013 MAY 27 JULY 4
Mark Your Calendar
Page 4
Catch the Spirit of Financial
Fitness - Free Seminars
You can register today online for any of the following great seminars to help you make the most of your money! Seating is limited and prior registration is needed. For more details visit www.patriotfcu.org under the Member Resource Center or call 717-263-4444 or 301-766-7328.
Retirement Planning: Maximizing Social Security Benefits
■ Thursday, April 11, 2013 at 6:00
Chambersburg Corporate Center Training Room
■ Wednesday, June 12, 2013 at 6:00
Chambersburg Corporate Center Training Room Financial Planning Fundamentals
■ Thursday, April 18, 2013 at 6:00
Hagerstown
■ Tuesday, May 14, 2013 at 6:00
Chambersburg Corporate Center Training Room College Financing: Understanding the Financial Aid Process
■ Thursday, April 25, 2013 at 6:00
Chambersburg Corporate Center Training Room
■ Wednesday, May 8, 2013 at 6:00
Chambersburg Corporate Center Training Room
■ Thursday, May 23, 2013 at 6:00
Chambersburg Corporate Center Training Room
■ Tuesday, June 4, 2013 at 6:00
Chambersburg Corporate Center Training Room
■ Thursday, June 20, 2013 at 6:00
Chambersburg Corporate Center Training Room The Credit Score: What it is; How it works; How to Improve it
■ Thursday, May 2, 2013 at 6:00
Hagerstown
The Will: A Critical Estate Planning Document
■ Wednesday, May 15, 2013 at 6:00
Chambersburg Corporate Center Training Room Developing a Budget You Can Live With
■ Wednesday, June 26, 2013 at 6:00
Chambersburg Corporate Center Training Room
Pass it Along
Tell a friend, family member or coworker about the great rates, low fees and maximum convenience at Patriot!Catch the spirit of
financial freedom!
Sequestration Assistance
If you have lost your job, or had your hours cut or salary reduced as a result of the Federal Budget Sequestration, Patriot is here to help!From special loans, deferred payments, financial counseling, and financial planning, Patriot members have many resources to help if affected by the sequestration. For example:
Patriot Sequestration Assistance Loan*
Patriot can provide a short-term, low rate Signature Loan up to $5,000 at a fixed rate of 5.99% APR, for a term of up to 48 months. Members and prospective members whose family household income has been negatively impacted as a result of the Federal Budget Sequestration are eligible. The member must be in good standing, meet Patriot’s loan underwriting guidelines, and have or open a checking account with direct deposit.
Patriot Deferred Loan Payments
In lieu of a loan, you may request up to 2 monthly loan payment extensions (skip-a-pay) on any fixed term consumer loans, with the exception of first mortgages, with no fee. You must be a member in good standing.
Loan Workout Program
On an individual basis, Patriot will work with you if you are having difficulties making loan payments. Options may include payment deferment, loan modifications or refinancing.
Debt in Focus Online Tool
Debt in Focus is a free and anonymous online financial analysis resource. By answering a few questions about income and current debts, members are able to review debt to income ratios, debt payment schedules, and suggested personal action strategies. Financial Counseling through BALANCE With BALANCE, a financial education and counseling service, free and confidential advice is available for Patriot members from certified financial counselors.
Financial Education Seminars
Patriot offers the Manage Your Money Seminar Series, complimentary financial education seminars. Topics include: Retirement planning, college financing, budgeting and more.
Financial Planning Review
Patriot Financial Services, available through CFS**, offers professional investment advisors who can assist members with a review of their current financial situation to ensure things are properly positioned to help the member through this time. This may be especially helpful to those who are considering early retirement packages.
For more information on assistance options, call us at 888-777-9982, sit down with a Membership Officer at one of our convenient branch locations, or visit www.patriotfcu.org to apply online!
*All loans subject to credit approval.
**Securities offered through CUSO Financial Services, L.P. (CFS) an independent broker/dealer (Member, FINRA/SIPC). Registered Representatives are independent representatives registered through CFS. The products offered are not NCUA/NCUSIF or otherwise insured, are not obligations of the credit union; are not guaranteed by the credit union, and may lose value.
Mark your calendars now to attend this year’s annual meeting June 25, 2013 at 1:30pm in the Capitol Theater, Chambersburg. Due to declining attendance over the past several years, this year the Patriot Board of Directors is moving to downsize the event and save our members’ money. The meeting will focus on the purpose of annual meetings, which is the business portion to keep members updated on how well the Credit Union continues to perform. Registration will begin at 12:30 pm. If you would like to attend, tickets are available at each branch. Light refreshments will be served and a vote to fill vacancies on the Board of Directors will be held.
Biographies for the candidates nominated for the Board of Directors are shown below. Other members who would like to be considered as candidates may do so by petitioning to have their names placed on the ballot. The following information must be submitted to the Secretary of the Board of Directors by April 11, 2013:
■ A Petition Containing 100 Members’ Names ■ A Written Statement of Qualifications ■ A Biographical Information Sheet
Complete information can be found in the Volunteer Recruitment Kit available in all Patriot offices, or by calling 717-262-4301.
Nominations
Richard G. Brandt, Dennis C. Coons and Gary W. Patterson have been nominated to fill three, 3-year terms on Patriot Federal Credit Union’s Board of Directors.
Richard G. Brandt
A resident of Chambersburg, PA, Richard G. Brandt is a graduate of Wheeling College with a B.A. in Political Science/Philosophy, and post-graduate credits in Accounting and Economics from Loyola College. Prior to his retirement from the Department of Army CEGA, Mr. Brandt worked at HQ DESCOM, Letterkenny Army Depot. Mr. Brandt currently serves as the Treasurer of the Board of Directors and has attended the NACUC Chairmen’s Forum in 2005, 2006, 2007, 2008 and 2009. He has held several volunteer positions, including past Board President for the Falling Spring Meadow Community Association. When asked his primary reason for wishing to serve on PFCU’s Board of Directors, he stated,” It has been my privilege to serve on the board of Patriot Federal Credit Union for the past 12 years. Although we live in a time of economic stress, the assets of our credit union have continued to grow based on the implementation of sound fiscal decisions and policies made by the Board of Directors. The policies implemented by the Board of Directors ensure that your credit union will remain solvent in the most difficult times. I am proud to have been an active participant in those decisions and look forward to assuring that your credit union will continue to prosper.” Mr. Brandt has been a member of Patriot Federal Credit Union since 1971.
Dennis C. Coons
Dennis C. Coons of Chambersburg is an owner of Global Data Consultants, LLC. A graduate of Shippensburg University, Mr. Coons attained a Bachelor of Science Degree in Mathematics and Computer Science. He owns multiple businesses, and has areas of expertise in strategic planning, cost control and business development. When asked his primary reason for wishing to continue serving on PFCU’s Board of Directors, he stated, “I have spent my entire life in the area and would like to aid in enhancing the overall performance of PFCU, by offering my business background and experience.”
Gary W. Patterson
Gary W. Patterson, of Chambersburg, retired from Lettekenny Army Depot in 1995, and is currently employed part-time by the Chambersburg Hospital. Mr. Patterson holds a Bachelor of Science degree in Finance from Penn State University. He has been a credit union member for many years and a volunteer since 1981, currently serving as 2nd Vice Chairman, and is past Chairman of the Board of Directors. . Mr. Patterson’s credit union achievements and awards include completion of the CUES Director Leadership Institute, where he received the Certified Credit Union Director’s designation; the Insurance for Credit Unions Certificate of Achievement; the Friedrich W. Raiffeisen Award; the Edward A. Filene Award; and the Roy F. Bergengren Award. Mr. Patterson states, “It is my desire to extend my service to PFCU members keeping this credit union a strong and caring financial institution, continuing in the credit union tradition of people-helping-people.”
the Annual
Membership
Meeting
Shopping for a Mortgage Loan?
What to Look for When Financing orRefinancing Your Home
Page 2 Catch the Spirit of Financial Freedom
Take
Advantage of
a Free Financial
Education
Seminar
Hosted by Patriot Financial Services offered through CFS* Share Certificate: You Have More
Options Than You Think Thursday, April 25 at 6:00pm (Waynesboro)
For more information or to sign up for upcoming seminars, visit www.patriotfcu.org under the Member Resource Center tab.
A Financial Armor to Protect
Your Family and Assets
One of the first steps in protecting your family and assets financially is to ensure that you have the appropriate legal documents in place to carry out your wishes in the event of your incapacitation or death. Another is to set up an emergency fund that you can tap when unexpected events occur, without having to draw down your other assets. Still another is to ensure that you have sufficient insurance coverage.
In its various forms, insurance can recover the financial value of assets that are lost, stolen, or damaged. It can protect your assets from liability claims that may result from your own negligent acts. It can also pay medical expenses and replace some or all of your income in the event of your injury, illness, disability, or death. But did you know that insurance, particularly life insurance, can be a valuable tool in other ways to enhance your financial plan?
Depending on your situation, there are strategies that may be applied in retirement planning (much like a Roth IRA) to use after-tax dollars to build a tax-free retirement income stream. For those who have already retired, other strategies may be used in conjunction with existing IRAs (or your Required Minimum Distributions (RMDs) from those IRAs) to provide a tax-efficient transfer of assets to children, grandchildren, or other desired beneficiaries. These are just a sampling of the alternatives available to you.
just a sampling of the alternatives available to you.
Our CFS* advisors at Patriot Financial Services will work with your tax advisors to make sure the specific strategies you select are appropriate for you and your tax situation. Don’t wait any longer to begin exploring the innovative and tax-friendly financial planning solutions now available to you. Visit us today at www.patriotfcu.org and click on the Investment Center tab, or give us a call at 888-777-9982 to set up your appointment for a complimentary, no-obligation consultation at the branch nearest you.
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered
*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered
broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/
NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk
NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk
including possible loss of principal. Investment Representatives are registered through CFS. Patriot Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. CFS and its Registered Representatives do not provide tax advice, and do not, by providing tax-related information, hold themselves out to be “fiduciaries” of your tax-deferred plans. Clients should always check with their tax advisor before engaging in any transaction involving IRAs or other tax-advantaged investments.
More for Your
Financial Fitness
New “Specials” Tab on patriotfcu.orgHome Page
Do you want to save money? Check out our new “Specials” tab at the top of our home page. From special offers to coupons to our Preferred Partners, you will find great ways to stretch your hard earned cash!
Patriot Offices will be closed to observe the following holidays:
Memorial Day: Independence Day: MAY 27 JULY 4
Mark Your Calendar
Page 4
Fitness - Free Seminars
Retirement Planning: Maximizing Social Security Benefits
■
■
Financial Planning Fundamentals
■
■
College Financing: Understanding the Financial Aid Process
■
■
■
■
■
The Credit Score: What it is; How it works; How to Improve it
■
The Will: A Critical Estate Planning Document
■
Developing a Budget You Can Live With
■
Pass it Along
Catch the spirit of
financial freedom!
■ ■ ■
Nominations
Richard G. Brandt, Dennis C. Coons and Gary W. Patterson have been nominated to fill three, 3-year terms on Patriot Federal Credit Union’s Board of Directors.
Richard G. Brandt
A resident of Chambersburg, PA, Richard G. Brandt is a graduate of Wheeling College with a B.A. in Political Science/Philosophy, and post-graduate credits in Accounting and Economics from Loyola College. Prior to his retirement from the Department of Army CEGA, Mr. Brandt worked at HQ DESCOM, Letterkenny Army Depot. Mr. Brandt currently serves as the Treasurer of the Board of Directors and has attended the NACUC Chairmen’s Forum in 2005, 2006, 2007, 2008 and 2009. He has held several volunteer positions, including past Board President for the Falling Spring Meadow Community Association. When asked his primary reason for wishing to serve on PFCU’s Board of Directors, he stated,” It has been my privilege to serve on the board of Patriot Federal Credit Union for the past 12 years. Although we live in a time of economic stress, the assets of our credit union have continued to grow based on the implementation of sound fiscal decisions and policies made by the Board of Directors. The policies implemented by the Board of Directors ensure that your credit union will remain solvent in the most difficult times. I am proud to have been an active participant in those decisions and look forward to assuring that your credit union will continue to prosper.” Mr. Brandt has been a member of Patriot Federal Credit Union since 1971.
Dennis C. Coons
Dennis C. Coons of Chambersburg is an owner of Global Data Consultants, LLC. A graduate of Shippensburg University, Mr. Coons attained a Bachelor of Science Degree in Mathematics and Computer Science. He owns multiple businesses, and has areas of expertise in strategic planning, cost control and business development. When asked his primary reason for wishing to continue serving on PFCU’s Board of Directors, he stated, “I have spent my entire life in the area and would like to aid in enhancing the overall performance of PFCU, by offering my business background and experience.”
Gary W. Patterson
Gary W. Patterson, of Chambersburg, retired from Lettekenny Army Depot in 1995, and is currently employed part-time by the Chambersburg Hospital. Mr. Patterson holds a Bachelor of Science degree in Finance from Penn State University. He has been a credit union member for many years and a volunteer since 1981, currently serving as 2nd Vice Chairman, and is past Chairman of the Board of Directors. . Mr. Patterson’s credit union achievements and awards include completion of the CUES Director Leadership Institute, where he received the Certified Credit Union Director’s designation; the Insurance for Credit Unions Certificate of Achievement; the Friedrich W. Raiffeisen Award; the Edward A. Filene Award; and the Roy F. Bergengren Award. Mr. Patterson states, “It is my desire to extend my service to PFCU members keeping this credit union a strong and caring financial institution, continuing in the credit union tradition of people-helping-people.”
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New “Specials” Tab on patriotfcu.orgHome Page
Patriot Offices will be closed to observe the following holidays:
Memorial Day: Monday, May 27,2013 Independence Day: Thursday, July 4, 2013 MAY 27 JULY 4
Mark Your Calendar
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Catch the Spirit of Financial
Fitness - Free Seminars
You can register today online for any of the following great seminars to help you make the most of your money! Seating is limited and prior registration is needed. For more details visit www.patriotfcu.org under the Member Resource Center or call 717-263-4444 or 301-766-7328.
Retirement Planning: Maximizing Social Security Benefits
■ Thursday, April 11, 2013 at 6:00
Chambersburg Corporate Center Training Room
■ Wednesday, June 12, 2013 at 6:00
Chambersburg Corporate Center Training Room Financial Planning Fundamentals
■ Thursday, April 18, 2013 at 6:00
Hagerstown
■ Tuesday, May 14, 2013 at 6:00
Chambersburg Corporate Center Training Room College Financing: Understanding the Financial Aid Process
■ Thursday, April 25, 2013 at 6:00
Chambersburg Corporate Center Training Room
■ Wednesday, May 8, 2013 at 6:00
Chambersburg Corporate Center Training Room
■ Thursday, May 23, 2013 at 6:00
Chambersburg Corporate Center Training Room
■ Tuesday, June 4, 2013 at 6:00
Chambersburg Corporate Center Training Room
■ Thursday, June 20, 2013 at 6:00
Chambersburg Corporate Center Training Room The Credit Score: What it is; How it works; How to Improve it
■ Thursday, May 2, 2013 at 6:00
Hagerstown
The Will: A Critical Estate Planning Document
■ Wednesday, May 15, 2013 at 6:00
Chambersburg Corporate Center Training Room Developing a Budget You Can Live With
■ Wednesday, June 26, 2013 at 6:00
Chambersburg Corporate Center Training Room
Pass it Along
Catch the spirit of
financial freedom!
Sequestration Assistance
You are invited to attend the Patriot Federal Credit Union Annual Meeting, which will
take place on Tuesday, June 25, 2013, at the Woods Center, Capitol Theatre, Chambersburg, beginning at 1:30 pm. Please plan to be there to elect board members and receive reports on the performance of Patriot. Doors open and registration will begin at 12:30 pm. Coffee, soft drinks and cookies will be served. Tickets to reserve your seat are available at any branch.
Biographies for the candidates nominated for the Board of Directors are shown below. Other members who would like to be considered as candidates may do so by petitioning to have their names placed on the ballot. The following information must be submitted to the Secretary of the Board of Directors by April 11, 2013:
■ A Petition Containing 100 Members’ Names ■ A Written Statement of Qualifications ■ A Biographical Information Sheet
Complete information can be found in the Volunteer Recruitment Kit available in all Patriot offices, or by calling 717-262-4301.
Nominations
Richard G. Brandt, Dennis C. Coons and Gary W. Patterson have been nominated to fill three, 3-year terms on Patriot Federal Credit Union’s Board of Directors.
Richard G. Brandt
A resident of Chambersburg, PA, Richard G. Brandt is a graduate of Wheeling College with a B.A. in Political Science/Philosophy, and post-graduate credits in Accounting and Economics from Loyola College. Prior to his retirement from the Department of Army CEGA, Mr. Brandt worked at HQ DESCOM, Letterkenny Army Depot. Mr. Brandt currently serves as the Treasurer of the Board of Directors and has attended the NACUC Chairmen’s Forum in 2005, 2006, 2007, 2008 and 2009. He has held several volunteer positions, including past Board President for the Falling Spring Meadow Community Association. When asked his primary reason for wishing to serve on PFCU’s Board of Directors, he stated,” It has been my privilege to serve on the board of Patriot Federal Credit Union for the past 12 years. Although we live in a time of economic stress, the assets of our credit union have continued to grow based on the implementation of sound fiscal decisions and policies made by the Board of Directors. The policies implemented by the Board of Directors ensure that your credit union will remain solvent in the most difficult times. I am proud to have been an active participant in those decisions and look forward to assuring that your credit union will continue to prosper.” Mr. Brandt has been a member of Patriot Federal Credit Union since 1971.
Dennis C. Coons
Dennis C. Coons of Chambersburg is an owner of Global Data Consultants, LLC. A graduate of Shippensburg University, Mr. Coons attained a Bachelor of Science Degree in Mathematics and Computer Science. He owns multiple businesses, and has areas of expertise in strategic planning, cost control and business development. When asked his primary reason for wishing to continue serving on PFCU’s Board of Directors, he stated, “I have spent my entire life in the area and would like to aid in enhancing the overall performance of PFCU, by offering my business background and experience.”
Gary W. Patterson
Gary W. Patterson, of Chambersburg, retired from Lettekenny Army Depot in 1995, and is currently employed part-time by the Chambersburg Hospital. Mr. Patterson holds a Bachelor of Science degree in Finance from Penn State University. He has been a credit union member for many years and a volunteer since 1981, currently serving as 2nd Vice Chairman, and is past Chairman of the Board of Directors. . Mr. Patterson’s credit union achievements and awards include completion of the CUES Director Leadership Institute, where he received the Certified Credit Union Director’s designation; the Insurance for Credit Unions Certificate of Achievement; the Friedrich W. Raiffeisen Award; the Edward A. Filene Award; and the Roy F. Bergengren Award. Mr. Patterson states, “It is my desire to extend my service to PFCU members keeping this credit union a strong and caring financial institution, continuing in the credit union tradition of people-helping-people.”
APRIL 2013
Branch Locations
ChambersburgWaynesboro
Hagerstown
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500
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Plan Now for College
With Affordable Financing from Student Choice Is someone in your family Is someone in your family headed off to college this Fall? headed off to college this Fall? Let Patriot Federal Credit Union Let Patriot Federal Credit Union help with affordable financing. help with affordable financing. Student Choice, our student Student Choice, our student loan* program, offers low rates loan* program, offers low rates and flexible repayment plans to and flexible repayment plans to
help fill in the gaps not covered by other funding sources. Visit
help fill in the gaps not covered by other funding sources. Visit www.patriotfcu.www.patriotfcu. studentchoice.org
studentchoice.org to learn more about student loan options for parents, to learn more about student loan options for parents,
undergraduates, and graduates. Then, apply online through our secure website. In undergraduates, and graduates. Then, apply online through our secure website. In most cases, you’ll get an answer within minutes.
most cases, you’ll get an answer within minutes.
Patriot’s Grad Pak
Ideal for Graduates
The Grad Pak at Patriot includes all the low-cost and The Grad Pak at Patriot includes all the low-cost and convenient financial services a young adult needs to become convenient financial services a young adult needs to become convenient financial services a young adult needs to become financially independent. It includes a Savings Account, Checking financially independent. It includes a Savings Account, Checking financially independent. It includes a Savings Account, Checking Account with a Debit Card and Direct Deposit*. Plus, Grad Pak Account with a Debit Card and Direct Deposit*. Plus, Grad Pak members receive a FREE GIFT when they open their account! members receive a FREE GIFT when they open their account!
*A parent or legal guardian is required as a joint owner on all *A parent or legal guardian is required as a joint owner on all youth accounts. The child’s social security number and birth youth accounts. The child’s social security number and birth date are required to open an account.
date are required to open an account.
*A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The *A parent or legal guardian is required as a joint owner on all youth accounts. The child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account. child’s social security number and birth date are required to open an account.
Ahhh…
To Be Young
Take Me Out to the Ball Park
Family Night at Hagerstown Suns Baseball Game July 3!
Watch for more details on this fun Patriot event for the whole family in our Your Money newsletter, as well as the next issue of Patriot Pals News and Patriot All-Stars Shout Out! Save the date because Patriot Pals (ages 0-12) and Patriot All-Star members (ages 13-17) will get one free ticket. Must be registered with Patriot as a Patriot Pal account or Patriot All-Star to get the free ticket. Parents and other family members will be able to get tickets at $5 each and a special $5 Value Meal at the park that night!
There will be fireworks and fun, so mark your calendar to be a part of the Patriot Family Night at the Ballpark!
Time to Set Up Their
Own Checking Account?
Patriot All Stars Checking*Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving Patriot All-Stars is the place for young adults to learn about saving and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified and managing their own money. Besides a Savings Account, qualified teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a teens have the opportunity to open their first Checking Account with a Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to Patriot Debit Card (with a qualified adult). Patriot All- Stars is open to members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started. members ages 13-17 and all it takes is a minimum deposit of $5 to get started.
Plan Now for College
Plan Now for College
Join Us on June 1 for
a Shred Fest &
Food Drive
Safely Dispose of Sensitive Documents 8:00am – Noon, Wayne Avenue Branch
Canned Food Drive
1.99
%
APR**
3.97
%
APR**
Have Spring Home
Improvement Projects?
*Subject to credit approval.
Smart Ways to Make the
Most of Your Tax Refund
5 Smart Things to Do with Your Tax RefundIt can be fun to take your tax refund and spend it on impulse purchases, but chances are you’ll regret it later. Instead, consider these options for some or all of your refund:
1 Pay Down Debt
Reducing or eliminating high interest rate debt is one of the best ways to utilize your tax refund.
2 Start or Add to an Emergency Fund
Avoid running up credit card balances for unexpected expenses by keeping extra cash on hand in your Patriot Savings or Money Market Account.
3 Open or Add to an IRA
This is a great way to save for retirement or education. Patriot can help you with a full range of IRA options.
4 Investment Options
Patriot can assist you in setting up a Certificate of Deposit* for your tax refund, or you can set up an appointment to speak with an Investment Advisor to discuss other options.
*Penalty for early withdrawal.
5 Home or Auto Maintenance
Be proactive and use your tax refund to take care of home or
auto repairs that may end up costing you more later.
