1. finance
2. bank
3. bank account

April 2014
AMHFCU.org
A Newsletter for Members of American Heritage Federal Credit Union
Mortgage Rates Are Still Low: Act Now!
Industry experts suggest that now is the best time in 30 years to buy a house.
While home prices and mortgage rates are beginning to rise, it’s not too late to
get into the home of your dreams. Find out how much you can afford with a
FREE Pre-Approval!
If you are looking to buy a home or sell your current home, learn how to
make the most on your investment at our FREE Home Buying Seminars. Topics
covered include:
How to Apply for a Mortgage • How to Select a Realtor • How to Sell Your Home • and more!
Register today by visiting AMHFCU.org/Calendar and select from one of the
following dates:
Tuesday, April 8th
6 pm - 8 pm
Saturday, April 12th
9 am - 11 am
Tuesday, April 29th
6 pm - 8 pm
To get pre-approved for your mortgage, visit us online at AMHFCU.org/Mortgages
or call us at 215-969-0777. Don’t put off your dream home any longer – call us and
start making those home-owning dreams a reality!
F
ree
Pre
-Approvals!
Used Auto And RV Sales Event!
Used Auto Loans
as low as
2.49
%
APR1
up to 60 months
First
Payment
Up To $500!
Plus, We’ll
Make Your
2
RVs & Campers
Also On Site
For Sale!
Buy a certified Enterprise Used Car at our American Heritage Enterprise
Sales Event on April 24th-26th and you’ll not only get a great loan rate,
we’ll also make your first payment up to $500!2 Enterprise’s quality pre-owned vehicles will be on
site for you to shop at our main campus located at 2060 Red Lion Road in Philadelphia.
April 24 - 26,
Thurs - Fri: 11 am - 5 pm
Sat: 9 am - 2 pm
Carriage House
Branch
2068 Red Lion Rd.
Philadelphia, PA 19115
BUSINESS JOURNAL
PHILADELPHIA
2013
HEALTHIEST EMPLOYERS®
of Greater Philadelphia
Our Used Car Auto Loan Rates are as low as 2.49% Annual Percentage Rate for up to 60 months
and as low as 2.99% APR1 for 61 to 72 months. You’ll also see great RVs on site as part of the sale.
RVs provided by Media Camping, Indian Valley and Fretz RV’s. Get your RV loan through American
Heritage and see the USA this summer!
FREE Seminar: How to Buy a Used Car!
Tuesday, April 22nd from 7 pm - 8 pm
Carriage House Branch
Don’t wait, to register for the Seminar visit AMHFCU.org/Calendar or to get pre-approved call
215-969-0777 or visit AMHFCU.org/Autoloans today!
America Is Better Than Ever... and So Are We!
President’s Message
We’re Better. That bold statement now appears in every
American Heritage branch, on our website, in our
newsletters and even in our television commercials.
Some may call it a brash claim. Others may say it’s
impossible to live up to.
But I like it. To have the audacity to put our service
goal in writing demonstrates to all of our members that we are committed
to holding ourselves to a higher standard. We want to be your primary
financial partner, the people you turn to when you have questions about
buying a house, paying for college, retirement and how you can save
money on the financial transactions you conduct every day. We cannot
do that without recognizing that you--our members--are our number one
priority. Unless you think we’re better, we can’t completely achieve that
goal.
Here is just one way we’re doing what’s best for our members: all of our
MasterCards are now Platinum MasterCards. What does that mean for
you? It means that all of our members now enjoy the prestige of carrying
a Platinum MasterCard and all of the benefits associated with it. Our
Platinum MasterCard is better than others because we not only have a low
annual percentage rate, we have no balance transfer fee. We also offer
ScoreCard Reward Points that never expire. Check out the article on page
three of this newsletter to get all the details.
Another way we’re better? We’re committed to providing you with
financial education. If you’re in the market for a home this spring, make
sure you attend one of our FREE Home Buying Seminars. Need some new
wheels? Check out our seminar on “How to Buy a Used Car” at our Carriage
House Community Room on April 22. You can find a complete schedule of
seminars on our website at AMHFCU.org/Calendar.
We are proud to say that we are now the 102nd largest Credit Union based
on membership size, and the 136th largest Credit Union in the country
based on asset size–both milestones that we could not have achieved
without the support of members like you. As of December 31, 2013, we
now have 125,901 members.
At American Heritage, we are committed to getting better every day. That
means we learn from our mistakes and share our best practices to grow
as an organization. If you are not satisfied with the service you have
received from American Heritage, I invite you to contact me directly. Use
the “Contact the CEO” link on the website. I stand behind our claim to be
better and I will personally answer every email. That’s my commitment to
being better, and it’s just one of the things that make American Heritage
different from other financial institutions.
BALANCE SHEET
December 31, 2013
(Unaudited)
Assets
Loans to Members $829,054,363
Allowance for Loan Losses (6,012,656)
Cash in Bank and on Hand 123,733,488
Investments
342,560,684
Other Assets 76,120,859
Total Assets
$1,365,456,738
Liabilities and Equity
Savings Borrowings
Other Liabilities Total Liabilities
Net Worth
Valuation Reserve
Total Equity
Total Liabilities and Equity
$1,042,230,711
180,000,000
25,611,381
1,247,842,092
126,902,936
(9,288,290)
117,614,646
$1,365,456,738
INCOME STATEMENT
For the year ended December 31, 2013
(Unaudited)
Interest on Loans
$43,300,357
Interest on Investments
5,053,327
Other Operating Income
26,093,708
Total Income 74,447,392
Compensation and Benefits 22,835,198
Corp CU Stabilization 778,101
Provision
4,800,000
Other Expenses
23,017,127
Total Expense
51,430,426
Dividend Expense 6,752,817
Interest Expense
4,238,377
Dividend and Interest Expense 10,991,194
Net Income
Bruce K. Foulke
President/CEO
We have 125,901 Members as of 12/31/13.
Great American Heritage
Save the Date
Saturday | 9.20.14
Carriage House Branch
2068 Red Lion Road
First Annual
$12,025,772
10 am - 5 pm
|
BBQ Cook-Off
Horseshoe Tournament
Volleyball Tournament
Get your best BBQ recipes ready to compete against the greatest barbeque teams in the region!
Featuring Nationally Renowned BBQ Pit Master Glenn Gross from Fat Jack’s BBQ!
Get your volleyball and horseshoe teams ready to win trophies!
I’m Giving You $50 ...
3
At American Heritage
We’re Better. Here’s Why!
No Closing Costs on Our Home Equity Loans.
None. There’s no application fee, no appraisal
fee, no balance transfer fee and no points to pay.
Our Loan Rates Are Better.
When You Add These Services:
•
$25 for Bill Pay
Use Bill Pay to pay your bills electronically.
$15 for Mobile Teller
•
View account summaries, transaction history, transfer funds, and
more on your smartphone or tablet.
•
$5 for eStatements
Why wait for “snail mail?” Consider the environment and get
your statements via email with eStatements.
•
$5 for eAlerts
Receive notifications directly on your phone
or through email regarding your account
activity.
In fact, they are some of the most competitive
available. Apply online or by phone at
215-969-0777, or stop by one of our 30
convenient branches.
Mobile Teller and eDeposit Apps for
your SmartPhone.
Access and manage your accounts anywhere—
in addition to our 30 Philadelphia area branches.
Enter the “We’re Better” Sweepstakes and Win!
2014 Chevy Cruze
American-Made Element Television
$500 ShopRite Shopping Sprees!4
Open any new share or loan account
from American Heritage in 2014,
and you will receive an entry in our
“We’re Better” Sweepstakes.
Every month 10 lucky members
will receive a $50 gift card
and qualify for our top prize
drawings.4 For details visit
AMHFCU.org/Better today!
Visit AMHFCU.org/Better to add these
services today and you can earn $503
or call 215-969-0777 for details.
All American Heritage
MasterCards Now Offer You
the Prestige of Platinum
Get the things you need, without
worrying about unnecessary fees
or overwhelming interest rates. Our
Platinum MasterCard offers great
low rates, no annual fees, and high
credit lines.
In addition, ALL MasterCard holders
now earn one ScoreCard Reward Point
for every $1 you spend to redeem
for brand-name merchandise and
awesome Travel Rewards. Maximize
your points by “householding”
them with family members in your
household. Plus, you can combine your
points from your Independence Check
Card to increase your rewards. Points
are accumulated and never expire! To
get Your Platinum MasterCard visit
AMHFCU.org/Mastercard.
Join The American Heritage
Investment and Retirement
Center for a FREE Seminar!
The Three Transitions to Retirement!
Carriage House Branch
Community Room
Wednesday, April 16th ∙ 6 pm - 8 pm
New Britain Branch
Thursday, April 17th ∙ 6 pm - 8 pm
For Details or to Register visit AMHFCU.org
CHOP CEO Honored with
American Heritage Award
American Heritage presented
its prestigious American
Heritage Award to Dr. Steven
M. Altschuler, M.D., Chief
Executive Officer of The
Children’s
Hospital
of
Philadelphia.
Coming
Soon!
With ePay, you can transfer funds directly into the accounts
of non-member family and friends, right from your mobile
device!
Dr. Altschuler has served as
President/CEO of CHOP since
April 2000, having joined
Children’s Hospital in 1982
as a Fellow in the Division
of Pediatric Gastroenterology
and Nutrition. In his three
decades at the hospital, Dr. Altschuler has served as a
physician-investigator, chief of the Division of Gastroenterology,
Hepatology and Nutrition, and Physician-in-Chief. He holds
a bachelor of arts in mathematics and statistics from Case
Western Reserve University and earned his medical degree at
Case Western University School of Medicine.
You won’t have to worry about writing a check or getting
cash. You can simply transfer the funds using Mobile Teller.
All you need is the payee’s mobile phone number or email.
The funds are taken directly from the account you choose and
deposited into your friend’s or family’s account immediately.
The low cost of 25 cents is cheaper than the cost of a stamp
and the convenience is invaluable!
The American Heritage Award is only given to individuals
whom the Board of Directors of American Heritage Federal
Credit Union feel go “above and beyond” in their service
to their fellowman. Dr. Altschuler’s untiring advocacy on
behalf of children earned him the honor. Congratulations to
Dr. Steven M. Altschuler, M.D. on receiving the American
Heritage Award!
Introducing Our Newest
Mobile Service: ePay!
American Heritage is excited to announce that we will soon
be offering a new electronic service: ePay!
Stay tuned for more details about ePay!
Welcome to American Heritage!
We would like to welcome the following Sponsor Companies
and their employees to the American Heritage family
Bussinger Isuzu ∙ CareersUSA
Days Inn: Horsham/Philadelphia
Emergency Systems Service Company
Family Camping Outlet Ltd.
Infinite Care Inc. ∙ I.S. Partners, LLC
Laminators, Inc.
RULES
Your retirement trumps their tuition.
You know when you’re on an airplane and they always tell you to
put your oxygen mask on first before assisting a child? Saving for
long-term financial needs is the same. If you don’t save for your
own future first, you won’t be able to help your children when they
need it. Worse, they may be forced to help you just when they’re
trying to put their own kids through school. There is no financial
aid for retirement. There is plenty of financial aid for college. Don’t
feel guilty about this.
Source: Chatzky, Jean. Money Rules. Rodale, 2012. Print.
Start saving for your little one’s future now by opening an American Heritage
Little Patriots Account. You can sponsor any of your children or grandchildren
who are under the age of two. Only $5 is needed; the credit union will contribute
the remaining $10 toward the $15 deposit required for membership.
Little Patriot Sponsor
Marissa Aderman
Dean Beck
Makayla Bell
Brianna Betz
Brody Bidwell
Hailey Bidwell
Serena Brown
Daniel Brown, Jr.
Quinn Brusstar
Aubree Camasta
Aser Charles
Juliana Conboy
Riley Curran
Mila Cutler-Scotti
Selena Diaz
Zoe Dinoulis
Greyson Dominick
Lincoln Dorfman
Hunter Downs
Piper Durie
Chase Egan
Miel Elmakis
Liam Erhardt
Trevor Evans
Hunter Fazio
Luke Fazio
Austin Fernandez
Taylor Flood
Sela Geiger
Layla Gentner
Antonio Gill
Micai Gordon
Elena Graziano
Gianna Greco
Leah Grous
Nathan Aderman
Jason Beck
Tamisha Bowman &
Lamont Bell, Jr.
David Betz
Joan Golembiewski
Joan Golembiewski
Loretta Flowers
Tavya Govan
Steven Brusstar
Amanda Camasta
Samuel Charles
Dana Conboy
Darlene Dickinson
Gabriella Scotti
Antonia Valle
Linda Holberg
Mary Defalco
Rosemarie &
Brandon Dorfman
Jacklyn Downs
Kelly & Andrew Durie
Kimberly Egan
Efrat Elmakis
William Erhardt
Dawn & Wayne Evans
Colleen Fazio
Colleen Fazio
Waleska Fernandez
Jemirah Thompson
Ashley Toy
Christina Christian
Janice Truitt
Felichia Stratton
Linda & Michael Graziano
Charles Greco
Laura & Kyle Grouse
Little Patriot Sponsor
Chase Happel
Peyton Heaven
Alex Jaffee
Isabella Jakovlevs
Morgan Jenkins
Eloise Karabian Robert
Madison Laboy-Johnson
Skylar Lahey
Matthew Laverty
Mikayla Lemuell
Maggie Lemuell
Naadir Malik
Eleanor Mansmann
Stella Marshall
Suri Massaquoi
Michael McKay
Logan McNasby
Hannah McNichol
Aubrie Miller
Asante Mitchell
Alexander Mort
Alexa Pesce
Baylee Porterfield
Mccartne Jade Roman
Mia Sanchez
Evelyn Seidel
Sarah Shaeffer
Joshua Sherk
Quinn Stecher
Asher Swartley
Emily Webster
Tronique Williams
Sage Wrenn
Sandra & Robert Happel
Ninette Jones
Helen Mead
Valentine Jakovlevs
Donna Slemmer
Michael Robert
Sophia Laboy
Janine Lahey
Ryan Laverty
Tamara Lemuell
Tamara Lemuell
Tosha Briggs &
Naadir Malik
Andrea Mansmann
Melissa Marshall
Bendu Porte
Aubrey McKay
Alicia McNasby
Veronica Carlson &
Timothy McNichol
Jamie Miller
Aisha Dixon
Adam Mort
Annemarie Pesce &
Alice Pesce
Brittanie Young
Nathanial Roman
Paul Fertig
Shannon & Carl Seidel
Steven Shaeffer
Helen Karslo &
Valerie Sherk
Donna & Zachary Stecher
Kathie & Steven Swartley
Carolyn Gaynor
Shanique Forbes
Erin-Ronae Scriber
Earn $15
When You Downl
oa
the Mobile Teller d 6
App!
Our Mobile Apps Give You
Safe, Secure Account Access
Anytime and Anywhere
We are proud to offer our members FREE mobile apps–Mobile
Teller and eDeposit–for your smartphone or tablet!
With our FREE Mobile Teller App you have 24/7 account
access right at your fingertips! Not only will you be able to
view account summaries, view transaction history, transfer
funds, and pay bills, but you can also view spending graphs,
use the message board and find the closest Branch/ATM to
you! Best of all, if you download the Mobile Teller App, we
will deposit $15 into your account!6
With the American Heritage eDeposit App, if you qualify you
can deposit checks without delivering the actual checks to a
branch. Simply take a photo of the front and back of your
checks with your mobile device and securely upload the
photos for deposit into your AMHFCU account.
For details or to download the American Heritage Mobile Teller
App or eDeposit App visit www.AMHFCU.org/mobile today!
Shredding &
Electronic Recycling Event
Saturday, April 26, 2014
Carriage House Branch
9:00 AM - 12:00 PM
The following electronics
will be accepted for recycling:
• Computers and Related Equipment • Televisions
• Office and Home Electronics
• Wire, Cables, AC Adapters
• LCD Monitors
• Rechargeable Batteries
• CRT Monitors
Shredding Events:
Saturday, April 26, 2014
9:00 AM - 12:00 PM
Rhawn Street &
Horsham Branches!
Can You Guess
Lucy’s Change?
11Annual
th
Car Show
Member ApprecIaTIon Day & CrafT Show
Save the Date
FREE
Live Broadcast From
Saturday, May 17, 2014
Rain Date: Sunday, May 18, 2014
AMHFCU.org/Carshow
During the month of April,
“Like” us on Facebook or
“Follow” us on Twitter and
Instagram and join the fun!
We will be posting weekly
videos displaying a jar filled with coins. Any follower who
can guess the dollar amount without going over will win the
amount of money in the jar.
The answers will be revealed each week after we count the
money on our FREE “Lucy Change” coin counter! If more
than one person guesses identical amounts, a winner will be
randomly selected. All guesses must be posted prior to the
final video showcasing the total amount for a chance to win.
Be sure to follow us on Facebook, Twitter and Instagram so
you do not miss an opportunity to Guess Lucy’s Change! For
details, visit us at www.facebook.com/AMHFCU!
B
ULLETIN BOARD
Events:
If you’re going to retire
within the next 10 years,
you need to review your 401(k).
FREE Home Buying Seminars
Tuesday, April 8th ∙ 6 pm - 8 pm
Saturday, April 12th ∙ 9 am - 11 am
Tuesday, April 29th ∙ 6 pm - 8 pm
at the Carriage House Branch
If you are in your fifties or sixties, chances are your 401(k) is
exposing your retirement savings to too much risk.
Investment & Retirement Center Seminars
A majority of your 401(k) assets may be invested in stock funds.
That could present a problem in the near future. Bull markets
don’t last forever – in fact, this one is pretty long in the tooth –
and bonds aren’t the greatest alternative right now.
Wednesday, April 16th ∙ 6 pm - 8 pm
at the Carriage House Branch
What if a bear market arrives? Could you stand to lose 10% or
20% of your 401(k) savings on the eve of your retirement?
Thursday, April 17th ∙ 6 pm - 8 pm
at the New Britain Branch
At a certain point, you need to make conservative choices with
the goal of preserving and enhancing your 401(k) balance.
Does your 401(k) offer target-date funds? How sensitive are its
fixed-income funds to rising interest rates? Does it give you a
chance to have a self-directed account, or invest in ways that
don’t have much correlation to the stock market?
How to Buy a Used Car Seminar
Tuesday, April 22nd ∙ 7 pm - 8:30 pm
at the Carriage House Branch
Enterprise Car Sale & RV Sales Event
Thursday - Saturday, April 24 - 26, 2014
at the Carriage House Branch
Shredder and Electronics Recycling Event
Saturday, April 26, 2014
at the Carriage House Branch
Before you retire, take a fresh look at your 401(k) and its
investment allocations. The more invested you are, the more
you have at stake – and when retirement is approaching, you
don’t have a lot of time to recover any losses you might suffer in
a down market. Please call The American Heritage Investment
and Retirement Center at 215-969-2967 today to schedule your
retirement plan review.
Representative is not a tax advisor or legal expert. For information regarding specific tax situations, please contact a tax professional.
For legal advice, consult an attorney.
Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer
and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/
FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.
Shredder Event
American Heritage Investment & Retirement Center (IRC) is a brokerage company that has partnered with American Heritage Federal
Credit Union to help members organize their financial life and plan for the future.
B2MM-1205-E092
Saturday, April 26, 2014
at the Rhawn Street and Horsham Branches
Car Show, Craft Show
Member Appreciation Day
Frequently Asked Questions
Saturday, May 17, 2014
(Rain Date: Sunday, May 18, 2014)
at the Carriage House Branch
How Can I View My Balance?
Disclosures
(1) Annual Percentage Rate (APR) for members who choose to make loan payments via payroll deduction or automatic payment from an American
Heritage Federal Credit Union account. APR is increased by .25% without payroll deduction or automatic payment. Rates for this product are
determined by an evaluation of applicant credit. Your rate may vary from the rate shown. Sample Monthly Payment: $17.74 for every $1000
borrowed at 2.49% APR at 60 months. Rates effective as of 02/21/14 and are subject to change.
(2) Vehicle must be financed using standard financing terms through American Heritage Federal Credit Union to qualify for payment offer. American
Heritage Federal Credit Union will make the first payment on the payment due date up to $500 on member’s behalf after vehicle is financed
through American Heritage Federal Credit Union. Offer void when 7-day Repurchase Agreement is activated. Offer valid 4/24/14 – 4/26/14. No
cash advances. Offer not valid for previous Enterprise purchases or with any other offer.
(3) Sign up for Bill Pay to earn $25, awarded 30 days after a new Bill Pay account its opened and first bill is paid. Earn $15 when you download and
use the Mobile Teller App, awarded 60 days after first use; sign up for eStatements and earn $5, awarded after 60 days or two billing cycles; sign
up for eAlerts and receive $5, awarded 30 days after sign up. Members receiving incentives will be sent an IRS Form 1099 and may be responsible
for paying taxes on the incentives. Offer valid from 1/1/2014 until 12/31/14.
(4) Open any new share or loan account between January 1, 2014 and October 31, 2014 to receive an automatic entry into the “We’re Better”
Sweepstakes. No purchase is necessary. Entry forms available at any AMHFCU branch. Ten winners will be selected once a month from January
2014 - October 2014 and will receive a $50 Visa Gift Card and qualify for our Grand, Second, Third and Runner-Up prize drawings. One Grand Prize
winner will receive a 2014 Chevy Cruze valued at $17,270; one second place and third place winner will receive a large screen Element television
valued at $500 and ten Runner-up winners will receive a shopping spree worth $500 at a local ShopRite. Winners will be selected at the Grand
Illumination Event on Saturday, November, 29, 2014 and must be present to win. Odds of winning determined by number of entries. Members
receiving sweepstakes prizes will be sent an IRS Form 1099 and may be responsible for paying taxes on the sweepstakes winnings. Prizes are not
transferable or exchangeable. AMHFCU assumes no responsibility or liability for damages, loss or injury resulting from acceptance or use of prizes.
AMHFCU employees, board and family members are not eligible for the “We’re Better” Sweepstakes.
(5) Annual Percentage Rate. Rates subject to change daily. Effective February 25, 2014
(6) Earn $15 when you download and use the Mobile Teller App, awarded 60 days after first use. Offer valid through 12/31/14
You can obtain your account balance online or
with our Phone Teller by calling 215-969-8200.
Your account balance is available as soon as you
log into your account using OnLine Teller. Your shares are listed
on the left side of your screen and the balance of each share on
the right. Your shares are also hyperlinks; click on any share to see
the account history. If you are not currently enrolled in OnLine
Teller, please visit the nearest branch location or contact our Call
Center at 215-969-0777 or 1-800-342-0008.
BOARD OF DIRECTORS
Cecilia B. Grady - Chairperson
Gary Weyhmuller - Vice Chairperson
Bruce K. Foulke - Treasurer
Susan V. Barrios - Secretary
James Brownlow, Frank Di Domizio, Clara Glenn,
Jennifer Hannigan, John Tracy
SUPERVISORY COMMITTEE
Susan V. Barrios - Chairperson
Dorian Smith, Kenneth Wong
24 Hour/7 Day Account Access • NYCE ATM Network • Contact Center: 215.969.0777 • Phone Teller: 215.969.8200 • OnLine Teller: AMHFCU.org
Federally insured
by the NCUA
®
For a full directory of more
than 7,200 Shared Branches
and 30,000 Surcharge-Free
ATM’s, visit www.AMHFCU.org
Available on the
App Store
Provides up to an
additional $250,000
of IRA Share Insurance
ANDROID APP ON