1. finance
2. grants, scholarships and financial aid
3. scholarships

Making the most of your dollars & cents...
Cents Abilities
The South Jersey Federal Credit Union Quarterly Update
Winter 2013
CENTS●ABILITIES
Volume 7.1 - Winter 2013
I n s i d e
3
Help Ensure a Sound Financial
Future
4-5
Enterprise Used Car Sales:
Meet Anthony Neptune
7
Leasing v. Buying a New Car
9
Time to Review Your IRA
Contributions
11
Scholarship Information
12-13
Welcome To The Family
14
Scams To Avoid
15
Fourth Quarter Dividends
Calendar
Helpful Tip
Welcome!
It’s January, the first of several months when
getting around often becomes a bit more
burdensome and with days that may require
a little more planning to get going. Freezing
rain, icy roads and snow conditions all can
herald a dicey time on the roadways. We
urge all our members to take it easy on those
“winter weather advisory” days to come,
slow down and get to your destinations
safely.
In all kinds of weather, and all year round,
our partners at Enterprise Car Sales provide
SJFCU members with prompt, courteous
service, a wide range of vehicles from
which to choose, and follow-up policies
that are second to none.
This month, SJFCU and Enterprise in
Pennsauken are holding a special promotion
– you can receive the Blue Book trade-in
value of your current vehicle plus $1,000!
But, as Anthony Neptune, Enterprise area
car sales manager, notes in an interview in
this newsletter, there is a great selection of
cars – and great Enterprise service – 365
days each year.
Add to this the continued great rates on new
and used vehicle loans offered by SJFCU,
and you have a combination that can’t be
beat.
Read up on what Anthony has to say – I’m
sure you’ll be impressed with the in-depth
training, service and available inventory the
people at Enterprise have to offer you.
Sincerely yours,
Benjamin T. Griffith
President/CEO
Cents●Abilities
Help Ensure that your Financial Present and Future are Sound!
You’ve thought about it before. Maybe you had it on your to-do list last year. But now,
with your budget getting even tighter, you may be ready to do something about guarding
and increasing your savings for the future.
In the present, increased payroll deductions and tax burdens may be taking extra bites
out of your paycheck. That doesn’t mean you should shortchange your finances for the
future. Carving out a plan for future financial security, and keeping to it, is key to your
success.
Here at SJFCU, financial planning services are available to members through
LPL Financial
a registered investment advisor and the nation’s leading independent
broker/dealer based on revenues
(reported in Financial Planning Magazine June 1996-2012).
Members are able to access the resources and information of LPL Financial in several ways:
• Go online to the South Jersey Financial Network (SJFN) at www.southjerseyfn.com. Here you can view the range of products and services available to answer your financial planning needs at all stages of your life.
• Make an appointment to discuss your financial planning in person
with financial consultant David Graham. You can either go to the
SJFN website, or call 800-582-7640 to set an appointment. David
has more than 12 years of experience in financial planning. He
has been working with SJFCU members for nearly two years and
provides the same unparalleled service and commitment to
ensuring your financial future you’ve come to appreciate in your
dealings with all of the SJFCU staff.
• Take advantage of special seminars hosted by SJFCU, on topics related to financial
planning. You can learn more about topics such as retirement planning and have
the opportunity to get many questions answered face-to-face. Keep an eye open for
announcements of coming events.
If you’ve experienced a life event that requires a second look at your overall financial
planning , such as a new job, or a job loss, the birth of a child, or a death in the family, a
family member heading to college – you may need to re-evaluate your overall financial
plans and requirements. Don’t put off such important planning. Check the website
www.southjerseyfn.com or call today for your first appointment with David Graham.
Securities and Financial Planning offered throught LPL Financial, Registered Investment
Advisor, Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed
affiliates. SJFCU is not a broker/dealer and not affiliated with LPL Financial. LPL Financial and
Prudential Life Insurance company are unaffiliated firms.
NOT NCUA INSURED NO CREDIT UNION GUARANTEE MAY LOSE VALUE
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South Jersey Federal Credit Union
SJFCU and Enterprise Team Up
We at SJFCU are proud to have a strong, long-term
partnership with the friendly, knowledgeable staff at
Enterprise Car Sales. You’ve probably noticed that several
times each year, SJFCU promotes special sales events
with Enterprise, but did you know: Both the Enterprise
staff, and our SJFCU staff, work together to offer great rates and superb member
service on car purchases all year round?
And, of course, SJFCU is working with you to offer the best rates around on car
loans – no matter when you need a vehicle. You can make your car buying
experience even easier by
• First getting pre-approved for your car loan with the SJFCU staff, and
• Telling us what you’re looking for in a vehicle, so the Enterprise personnel
can scout out the make/model/color you desire (see below).
No one is better equipped to tell you just how broad the selection of vehicles can
be, and just how extensive the service offered to SJFCU members by Enterprise,
than Anthony Neptune, Enterprise area car sales manager. Neptune, who works
out of the Enterprise location in Pennsauken – just five minutes
from the Cherry Hill Mall – oversees car sales in the entire South
Jersey region. ”The area I manage runs from Princeton down to
Cape May, and every place in-between,” said Neptune.
Where do your Enterprise car buyers come from?
Anthony Neptune: “We have customers from down in Absecon,
Brigantine, Ventnor, Cape May, Pleasantville, Hammonton, from
Anthony Neptune
up in Burlington City, Bordentown, in the Blackwood/Sewell
Enterprise
Area Car Sales Mgr. area, from Vineland, Bridgeton, Millville, and up in Hamilton
Township and East Windsor Township.”
Why should SJFCU members come here to buy a car?
AN: “Because of the people that Enterprise hires. We take great care of our
customers! Complete satisfaction is our ultimate goal.”
How closely do you work with our SJFCU branch staff?
AN: “We actually stop in and visit at the branches - Vineland, Pleasantville,
Moorestown, Camden, Voorhees, Deptford –at least once a month, to say ‘hi,’ to
maintain relationships with managers and staff.
“So it’s not just during promotions or special sales that we work with SJFCU
members but all year long. If distance is a concern, we also do some ‘door-todoor’ sales. Someone who lives in, say, Pleasantville who’s been referred to us,
may not want to drive up to Pennsauken to check out a certain car for sale. So we
make arrangements to meet the member in a convenient location to look over the
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Cents●Abilities
vehicle – even at their home. So we even make house calls on occasion!”
Is it true you can bring in other cars than those located on your lot?
AN: “Yes, we can locate requested types of cars through various sources, both
internally and externally. Right now, for example, here in Pennsauken we have a
Lexus, a Chevy Tahoe, and several luxury cars, plus a whole range of other makes
and models, in different colors, available.”
What sets Enterprise car sales apart from the competition?
AN: “Our company hires management trainees. They each go through a training
process in Enterprise rental departments where they learn procedures and the
‘bread and butter’ of the business. If we notice they have an innate sales ability,
we’ll tap them on the shoulder, so to speak, and tell them. ‘You’d be a great fit for
our sales department.’ We then set up an appointment to interview them further,
have them shadow a manager for a day or two, to see if they would be interested
in working in the sales department.”
Enterprise has some great pricing values. Can you explain some of the following?
No Haggle Pricing: “We want to
guarantee that every customer gets
the same great price, and the same
great value, clearly posted on every
vehicle, without having to negotiate
– this is a commitment established
more than 40 years ago.”
109-point checks: “Prior to being out on the lot and eligible for sale, all vehicles
go through a 109-point check – things like the brakes, rotors, transmissions, drive
train, tires, frame damage checks, all performed by ASE-certified mechanics.”
Servicing after the sale: “Since we’re driven by customer service, we’ll address
issues that crop up for up to two months after a car purchase - brakes, rotors, tires,
noise and so on. We’ll refer customers’ problems to an ASE-certified shop in Maple
Shade or several other shops in the area that we work with.”
7-Day Buybacks: “That exists to make sure that a vehicle which is sold is a ‘good
fit’ for the individual who purchased it. Up to seven days from the date of purchase,
a car can be returned for any reason. For example, maybe a family realizes the
sedan they got is a little too small for the family’s needs.”
Anything else you’d care to add?
AN: “My car sales staff goes the extra mile in working with potential car buyers,
and they make sure all questions are answered accurately. Even if a car purchase
doesn’t work out for someone ‘this’ time, people who’ve dealt with Enterprise
remember how they were treated, with respect and accuracy. And they often come
back to us a year later and buy from us then! We’re really all about forging strong
relationships, especially with SJFCU members.”
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South Jersey Federal Credit Union
The weather outside
NEW AUTO
* is frightful...
1.99%
but our AUTO LOAN rates are
APR / Up to 6 Years SO delightful!
USED** AUTO
2.99%*
APR / Up to 6 Years
Winter is here...and you need a dependable vehicle to
keep you going in bad weather. Our AUTO LOAN process is
fast and easy, and with flexible terms so you can get into a
new car quickly!
Fast Approval
Receive an answer
on your financing within 30 minutes of
application (or within 1 hour of opening).
Flexible Rates and Terms
Our competitive rates offer maximum
flexibility and convenient terms.
Easy Payments
With Direct Deposit or Payroll Deduction.
*Auto loan rates quoted are for Premier Plus category, up to 6
years and includes one-half percent (0.5%) reduction in rate for
payroll deduction or direct deposit. Auto loan promotional rates
are for new loans only. SJFCU refinances not included. Premier
Plus category requires a minimum FICO score of 750.**Used
car rate applies to model years 2010 and 2011 and 2012/2013
models with over 15,000 miles. Other rates and terms available
to qualified borrowers. Rates and terms subject to change at any
time at the discretion of the credit union.
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Cents●Abilities
In The Market For A New Car -- Leasing v. Buying
Here's a little known fact: auto dealers average
twice as much profit on a lease than on a sale.
With about 1 out of every 4 cars being leased, it
appears to be a good deal for drivers, too.
There's a simple difference between buying and
leasing a car: when you buy a car, you pay for
the full price of the car. That's why payments on
a purchase are higher, and upfront costs are generally higher, too. When you
lease a car, you pay the amount the car is expected to depreciate over the
length of the lease. For example, if a car will be worth $15,000 less three years
into the lease, you pay $15,000 to compensate the dealer for the three years
you drive the car. On the other hand, once you purchase the car, it's yours. You
can buy the car after the lease is up by paying the depreciated value, but keep
in mind that the interest rate on a lease is usually higher. So, if you're planning
to keep the car anyway, a purchase is definitely in your best interest.
Leases are tempting because you can get a more expensive car than you would
with a purchase. But remember...that's just temporary. It's similar to renting
a nicer home than you could afford to buy. While you may be making lower
payments, you're still not making any progress towards owning the home. Or,
in the case of a lease, the car.
A lease makes most sense if it's important to you to drive a new car and replace
it every two years or so. Also, if you're self-employed, you may be able to
deduct the entire cost of the lease from your taxes, which may reduce the true
cost of the lease (depending upon your tax bracket). There are some significant
drawbacks to leasing: first of all, you're usually limited to 12,000 miles a
year and it's expensive to exceed that number. This limitation may be a real
problem if you're a traveling salesperson. Secondly, the car must be returned
in showroom condition or you risk penalties. Finally, the lease is a binding
contract that you usually cannot break without stiff penalties.
The decision to lease or buy a car is a personal one. Evaluate your own
situation based upon the information here before you make a final decision.
But whatever you do, don't let the dealer make the decision for you. Know your
strategy before you visit the lot. It's too easy to give in to temptation and get
a car you can only afford by leasing when purchasing is in your best interest.
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South Jersey Federal Credit Union
Start the year off right!
With a Home Equity Loan from South Jersey
Federal Credit Union, you can keep the New Year’s
resolutions you made...
• Catch up on bills
• Pay down high-rate credit cards
• Pay off loans
Rates As Low As
• Install a new heating system
*
%
• Replace drafty windows
apr
2.99
up to 5 years
No Closing Costs • Easy Payments w/ Payroll Deduction
Fast Approval • Interest May Be Tax Deductible**
*Home Equity loan rates apply to new and refinanced loans in Premier Plus category with automatic payment such as payroll deduction.
The APR without automatic payment is one-half percent (0.5%) higher. Premier Plus category requires a minimum FICO score of 750.
Premiere Plus and Classic Plus categories require $25,000 or more of new money on refinanced loans and $10,000 or more on new
loans. All other Premiere and Classic categories require $15,000 or more of new money on refinanced loans. This product is a fixed
rate, closed-end loan secured by your primary residence and is equal to up to 75% loan-to-value including your 1st mortgage balance,
if any. Closing costs included in rate. Title insurance required for loan amounts over $100,000. Other rates and terms available to
qualified borrowers are based on credit approval. All rates and terms subject to change at any time at the discretion of the credit union.
**Consult with a tax professional.
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Cents●Abilities
Time To Review Your IRA Contributions
It’s never too early to review and consider where
you stand – and what your goals are – as regards
your 2012 contribution to an Individual Retirement
Account (IRA) for the 2012 tax year. It’s also very
important this year to review your Coverdell
educational savings accounts (ESAs).
This year’s filing deadline for both State and Federal income taxes is Monday, April 15,
2013. You have until then to make your annual contribution to either your Traditional
or Roth IRA for the tax year 2012. Remember: Filing an IRS filing extension does not
extend your 2012 IRA contribution deadline!
The maximum amount you can contribute for the tax year 2012, up through April
15, 2013, is $5,000 (or your total earned compensation, whichever is less). If you
are 50 years of age or older, you can contribute an additional $1,000 as a catch-up
contribution, for a total of $6,000.
Important Information regarding Coverdell ESAs:
Although the “fiscal cliff” was averted at the last moment, some potential changes to
the Coverdell ESAs may still occur in the coming weeks and months, depending on
upcoming federal legislative changes. Some key ESA provisions may be affected in
the future, such as:
• The annual ESA contribution limit may revert to $500 from the current $2,000 limit.
• The modified adjusted gross income limits for ESA contribution eligibility may be reduced to $150,000-$160,000 for married couples filing jointly, from the current limit of $190,000-$220,000.
• The current contribution deadline may revert to December 31.
• Qualified education expenses would be limited to higher education expenses only. (Distributions for elementary and secondary school expens-
es would no longer be treated as qualified education expenses.)
Depending on current and future legislative changes that may be enacted by
Congress in the coming weeks and months, this information may change yet
again. For this reason, you should definitely contact the IRA/ESA specialist here at
SJFCU, by calling 800-582-7640. The specialist will be able to speak with you about
the most current information about your ESA savings plans.
Don’t wait until the last minute to look into your IRA and ESA planning! As mentioned
above, potential changes and updates to legislation affecting your Coverdell ESA
plans may change, so you want to be sure that your plans are informed by the most
accurate information. Call us at 800-582-7640.
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South Jersey Federal Credit Union
...of a fabulous vacation!
It IS possible if you plan ahead &
save with an SJFCU Vacation Club
FREE GIFT
Receive a free Fannie Pack
when you open a Vacation Club
account. While supplies last.
Start my club in:
January 2013
(Funds avail.1/1/14)
April 2013
(Funds avail. 4/1/14)
July 2013
(Funds avail. 7/1/14)
October 2013
(Funds avail. 10/1/14)
Name____________________________________ Acct#____________
Address____________________________________________________
City______________________________State_______Zip____________
Phone: Home (____)_______________ Work (____)________________
I need to change the amount of my payroll deduction.
The SJFCU Vacation Club funds will automatically transfer to Statement Savings or Checking on 1st day of the month, 12 months
after the start date. Withdrawals prior to maturity will be subject to a 10% penalty, with a minimum withdrawal of $250. Please
bring your completed Vacation Club application to the credit union branch nearest you to receive your free gift. One free gift per
member please (while supplies last). I agree to have $5.00 deducted from my club account as payment for the free gift if I fail to
complete my club with a minimum of $250.
Signature______________________________________
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South Jersey Federal Credit Union
Cents●Abilities
Scholarship Information
In a good number of SJFCU member households, planning
for the costs of college is yet another factor to consider
in compiling a household’s budget. Taking the time to
complete applications for all possible forms of financial
aid is not only sensible but necessary in order to keep
those costs manageable.
One way to combat college costs, if you have a high school senior in your
household, is to make sure that your son or daughter applies for an SJFCU
scholarship!
SJFCU scholarships are available for qualified high school seniors
who apply and are selected to be awarded one of the scholarships.
The scholarship funds are to be used toward tuition for the 20132014 academic year at the college or university of the student’s
choice.
The annual scholarship amounts range from $250 to $1,000 and
are awarded based on a full spectrum of criteria, including:
• Academic achievement
• Community and extracurricular activities
• A teacher reference, and
• An original essay.
To be eligible for an SJFCU scholarship:
• The student – or his/her parent(s) – must be a member(s) of SJFCU.
• Eligible students must also plan to pursue a degree at an accredited
college or university.
• Very important: The application and all supporting materials must
be submitted by the deadline of Friday, February 22, 2013.**
**Please note that your application and other required materials must be
received at any office of South Jersey Federal Credit Union by that date.
The deadline is only weeks away – don’t delay until the last minute. Act now
to download, fill out and send in your application and credentials in order to
be considered!
Application forms for the 2013-2014 academic year SJFCU scholarships
are posted on our SJFCU website – www.SouthJerseyFCU.com. Click on
the scholarship banner on our home page to print out the application and
instructions.
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South Jersey Federal Credit Union
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CU
ps with SJF
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New Emplo
The Cleaning Authority of Mt. Laurel, Mt. Laurel
The Cleaning Authority of Mount Laurel, Inc. provides quality house
cleaning services with a focus on “green” home cleaning. All of its
employees are insured for clients’ protection and peace of mind and
are trained to clean homes in an environmentally sound manner. The
Cleaning Authority offers weekly, bi-weekly and quarterly cleaning
schedules, as well as “one-time” cleans and move-in/move-out cleanings.
Clondalkin Pharma & Healthcare, Moorestown
Clondalkin Pharma & Healthcare specializes in
pharmaceutical and healthcare package printing. Clondalkin
is an international firm, with over 45 production locations
in 10 countries throughout North America and Europe. Clondalkin’s North American
locations specialize in manufacturing pressure sensitive pharmaceutical roll labels,
package inserts and outserts, and folding cartons for the branded and generic
pharmaceutical industry.
12
Cents●Abilities
Grace Construction Management Company, LLC, Moorestown
Grace Construction Management Company, LLC is a commercial
construction management, design/build and general contracting
firm. The company’s four founders have over 90 years of
combined construction management experience.
HollyDELL, Inc., Sewell
Founded 60 years ago, HollyDELL, Inc. provides both education
and adult day programs to physically challenged children and
adults. In the past six decades the organization has grown to
serve thousands of children and adults with cerebral palsy and
other physical challenges, offering both educational and therapeutic services.
Mullica Hill Cold Storage & Garden State Freezers, Pedricktown
Mullica Hill Cold Storage and Garden State Freezers
are two components of parent company The Mullica
Hill Group. Both supply chilled and frozen warehouse space. The firm offers more than
9 million cubic feet of refrigeration. Among the firm’s customers are Rastelli Global,
Wakefern Food Corporation (parent company of Shop Rite), and Albert’s Organics.
Sunlight Care LLC, Moorestown
Sunlight Care LLC provides compassionate in-home care for seniors
in Burlington, Camden, Gloucester and Atlantic counties. Seniors can
choose in-home personal care, companion care or respite care. Each
option is available from state certified home health aides as 24/7 live-in
care, full day care, or for just a few hours each week.
TDK Systems Group, Inc., Columbus
TDK Systems Group, Inc. offers specialized professional and technical
services focused on security, access control and closed circuit TV
systems. In its 15 years of operation, TDK Systems Group, Inc. has
successfully completed more than 75 security and security technology
projects.
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South Jersey Federal Credit Union
PHISHING, SMISHING AND OTHER SCAMS TO AVOID
Recently, we alerted members to yet another texting scam. This information is still
posted on our website; we mention it again here:
Several SJFCU members have recently received text messages requesting that they “reactivate”
their SJFCU debit card. These text messages have referenced SJFCU debit cards (as well as
other credit unions) and ask members to call a toll free phone number to provide information.
SJFCU never solicits sensitive member information via telephone nor texting from its members!
Should you receive a text or a phone message asking for a “debit card reactivation” do not
reply and do not phone the number given. Instead, notify SJFCU of this attempt, by calling
us at 800-582-7640.
Beware of the schemes, scams and frauds that can cost you money! Courtesy of
the Financial Education Corporation, here are some of the prevalent frauds that are
circulating out there:
• Phishing: the criminal attempt to steal your personal information through fraudulent
emails or smartphone texts. They often seem very “legit” taking a victim to a site that
asks them to verify personal financial details such as account numbers and social security numbers. Spear phishing is a variation: electronic messages that appear to come
from an employer, especially a large corporation.
Protect yourself: SJFCU never sends emails asking for your personal information – they
already have it.
• Smishing: what cyber experts label smartphone texting frauds. Smartphone users are
being targeted more and more as they tend to respond to texts and emails quickly. They
may not realize a message is fake until too late.
Protect yourself: Be careful of “urgent” messages. With text scams, use the same
precautions as you would for a phishing scam.
• Spyware: criminal software that a victim unknowingly loads on a personal computer.
Your personal data is collected and sent to a criminal.
Protect yourself: Install up-to-date security software on a regular basis.
• Debit & Credit Card Skimming: attempts to take your personal information and
identity by tampering with ATM machines.
Protect yourself: Reduce your risk at ATMs – use machines from institutions you know
and trust.
Cyber criminals tend to prey on those who are most vulnerable, such as senior citizens
or young adults. Make sure you alert friends and family to these types of threats.
And, as mentioned above, SJFCU never solicits sensitive member information via
telephone nor texting. Should you receive a text or a phone message asking for your
personal information, do not respond to it! Instead, notify SJFCU of this attempt, by
calling us at 800-582-7640.
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Cents●Abilities
Fourth Quarter Dividends
Rate
APY*
Statement Savings
$100 - $4,999
$5,000 - $24,999
$25,000 and Above
0.15%
0.20% 0.25%
0.15%
0.15% - 0.19%
0.19% - 0.25%
$100 - $4,999
$5,000 and Above
0.15%
0.20%
0.15%
0.15% - 0.20%
Vacation & Christmas Clubs
Money Market
Super Money Market
NEW Mega Money Market
0.20%
0.18%
0.30%
0.50% 0.20%
0.18%
0.30%
0.50%
0.50%
0.65%
1.00%
0.50%
0.50% - 0.59%
0.59% - 1.00%
Teachers Club
IRA - Traditional/Roth/Coverdell
$0 - $19,999
$20,000 - $49,999
$50,000 and Above Rates subject to change without notice.
*Annual Percentage Yield.
Calendar
January 2013
21 - Martin Luther King Jr. Day - Offices Closed
February 2013
18 - Presidents Day - Offices Closed
Helpful Tip
Rough roads cost an average of $400 a year in wear and tear on your car. Save
money on repairs and extend the life of your car by slowing down. A slower
speed reduces the impact of bumps and ruts and gives you more time to dodge
them.
Source: CUNA News Now, Consumer News, Oct. 12, 2010
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