November Seminars – Free for U.S. New Mexico Members Solo(k) — What is It? Is it Right for You? Presented by Ron Pattison, Pattison Pension Specialists, Inc. and Ken Fanning, Financial Advisor/Investment Adviser Representative, Financial Network Investment Corporation. Member SIPC. 2125 Wyoming Blvd. NE, Albuquerque, NM 87112, 505-263-2291 [email protected] this new retirement. You’ll learn how the longevity revolution will impact your life; how our traditional lifespan is being replaced with a new cyclic model; what new freedoms and opportunities may present themselves; and what challenges should be considered when funding this new vision of retirement. Presented by Gary Kissock, CPA with Palmer and Co., LLC and Ken Fanning, Financial Advisor/Investment Adviser Representative, Financial Network Investment Corporation. Member SIPC. 2125 Wyoming Blvd. NE, Albuquerque, NM 87112, 505-263-2291 [email protected] Tuesday, Nov. 13, 6:00 pm 2609 Texas St. NE Sandwiches and soft drinks will be served. Effective retirement planning involves a long-term approach Investments offered through Financial to investing, an awareness of tax Investments offered through Financial Network are not deposits, not insured Network are not deposits, not insured strategies, and the opportunity by NCUA or any other Government or by NCUA or any other Government or Sponsored by Jerome Pfeffer, regulating agency. Returns in such to contribute amounts that will regulating agency. Returns in such investments may fluctuate and may Solutions Group, Investment investments may fluctuate and may support your individual lose value. lose value. Ledger. Member Linsco/Private retirement goals — especially if NASD/SIPC. you are self employed. Your Power Years. Holiday Survival Skills Make Them Count. Tax Strategies Wednesday, Nov. 28, 6:00 pm If you are self-employed (either for 2007 – 2008 full-time or part-time) join us for 2609 Texas St. NE Tuesday, Nov. 20, 6:00 pm an information seminar and learn 2609 Texas St. NE Tuesday, Nov. 27, 6:00 pm Uncover the real cost of about the many advantages of a 2609 Texas St. NE the holidays. Discover tips This is like no other financial Solo(k) plan. We will discuss: Sandwiches and soft drinks will on how you and your family services seminar. Both can cope with the emotional • How to take advantage of be served. educational and entertaining, the annual discretionary you’ll learn how to envision your Tax laws change, thresholds are and financial stresses of the holiday season. contributions of $0 – retirement and how to plan it modified, and limits get Presented by Karen Bernhardt, $50,000 (or double the just for YOU. It’s packed with adjusted. Keeping abreast of Consumer Credit Counseling contribution if you employ provocative information and tax law and taking advantage Service tools to discover what matters your spouse). of tax strategies can greatly reduce your tax liability for this most to you — your goals, your • What “Full ERISA Registration is required year and help with future dreams and how to make the Protection” really means planning. prior to attending a most of your retirement. and why it’s important seminar. To register, visit to you Join us for an Developed by America’sprior most to attending Registration is required a informative seminar. To register, • How Solo(k) Plans are seminar on tax strategies for our website, usnmfcu.org, celebrated retirement expert, visit our website, usnmfcu.org and click Member Education, or call 342-8910. 2007 and 2008. We will discuss: and administered (No filing click BOOST YOUR Ken Dychtwald, Ph.D. and Age requirements, self trusted, Wave, this life-changing BRAIN POWER, Member • Tax laws, what you separate administration and program will help you need to know Seminars or call 342-8820. financial advice) understand how the traditional • Pros and cons of different • How to structure tax deferred savings plans notion of retirement is a thing of contributions to reduce • How a home based the past — and how you can business can work for you maximize your opportunities in payroll taxes A Publication for the Members of U.S. New Mexico Federal Credit Union NOVEMBER 2007 Golden Eagles Learn How to Avoid Investment Scams The Golden Eagles Association will hold its regular meeting at 10:00 am on Tuesday, November 27, at 2609 Texas St. NE. Following a short business meeting with coffee and refreshments, the guest speaker will be Frank Mulholland, “Savvy Investment Presenter,” of the State of New Mexico Securities Division. He will speak on Frauds and Scams. He is an excellent speaker and will discuss how to identify and avoid the most common investment scams. CHRISTMAS LUNCHEON: See article inside for details. website: www.usnmfcu.org e-mail: [email protected] VEHICLE LOANS A.P.R. New Vehicles Terms (2006-2008 model years) 5.75% 5 yrs (2000–2005 model years) 5.75% 5 yrs Used Vehicles Extended terms available. Rates may vary based on qualification. Investment Rates SHARE CERTIFICATE AND IRA CERTIFICATE RATES 3 Months 6 Months 12 Months 18 Months 24 Months 36 Months 48 Months 60 Months APY* 3.10 % 3.85 % 5.12 %** 4.35 % 4.50 % 4.40 % 4.50 % 5.20 % Share Certificates require a minimum deposit of $1,000 and are subject to a substantial penalty for early withdrawal. INSURED INVESTMENT PLUS $100 - $2,499 $2,500 - $9,999 $10,000 - $19,999 $20,000 - $49,999 $50,000 - $99,999 $100,000 & Up Toll-Free Number: 1-888-342-USNM Branch Phone Numbers: Osuna – 342-8862 Tennessee – 342-8701 Gold – 342-8501 Irving – 342-8601 Santa Ana – 342-8550 APY* 1.50 % 1.90 % 2.10 % 2.50 % 2.80 % 3.00 % Fees & other conditions may reduce earnings. *Annual Percentage Yield Rates current as of 11/1/07 For a complete listing of loan and deposit rates, visit our website or call 342-8888, ext. 23. - More FREE ATMs in NM than ANY Bank! FREE Check Card FREE Online Banking FREE Phone Banking FREE Overdraft Protection and… NO minimum balance, NO monthly service charge, UNLIMITED check writing, dividends on balances over $500 and much more! Department Extensions *Annual Percentage Yield **Minimum IRA Certificate Term Rates current as of 11/1/07 505-342-8888 U.S. New Mexico FREE Checking Includes: Operator ..........................................0 CU by Phone......................................1 Automated Services ............................2 Teller Transactions ..............................3 Member Services ................................4 Loan Services ....................................5 To Repeat These Options ......................6 Eagle Comment Line ........................234 Visa Check Card Lost/Stolen - 1-800-899-4047 Visa Credit Card Lost/Stolen - 1-800-325-3678 For Branch and Drive-up hours, visit our website or call 342-8888, ext. 2. The information in this EAGLE LETTER is as current as possible. However, the Credit Union reserves the right to change or delete any rates or services. 4 Activate your FREE Checking Account now through November 30, 2007, and we’ll donate $25 to United Way of Central New Mexico. At U.S. New Mexico, we’ve been helping New Mexicans achieve personal financial success since 1935. As a member, you already belong to one of the state’s oldest, largest, safest and most secure financial institutions. Call 342-8888, ext. 3 or visit any branch and begin using Free Checking today! Holiday Signature Loan Up to $3,000! 9.9% APR! Terms of up to 36 months! Qualification is required. Call 342-8888, ext. 52. We will be closed for Veterans Day on Monday, Nov. 12 and Thanksgiving Day, Thursday, Nov. 22. 1 We Have a Mortgage for You! Who is to blame for the Subprime mortgage crisis? Subprime lending is a general term that refers to the practice of making loans to borrowers who do not qualify for market interest rates because of problems with their credit history or their inability to prove that they have enough income to support the monthly payment on the requested loan. Subprime loans or mortgages are risky for both creditors and debtors because of the combination of high interest rates, bad credit history, and murky financial situations often associated with subprime applicants. Who is to blame? 1. The predatory lending practices of subprime lenders and the lack of effective government oversight? 2. Mortgage brokers who steered borrowers to unaffordable loans? 3. Appraisers who inflated housing values? 4. Wall Street investors who backed subprime mortgage securities without verifying the strength of the portfolios? 5. Borrowers who over-stated their incomes on loan applications and entered into loan agreements they could not meet? 6. Unscrupulous developers, builders, real estate agents, mortgage brokers and lenders? 7. All of the above? What’s happening in the mortgage industry is not happening at U.S. New Mexico • We have not been affected by the mortgage crisis. • We don’t offer Subprime loans (never have). • We don’t offer interest only loans. • We do have a wide variety of effective mortgage products to choose from. • We have qualified staff to match you with the right product. • We have great rates and low fees. We rely on fundamental lending practices and embrace the credit union philosophy of putting members and the community first. We take responsibility for matching the buyer, the property, and the financing package, so it all works together. Our goal is to make sure borrowers understand the terms of the loan and how a change in job status or interest rate might affect them. We have your best interest at heart. We are your Credit Union. Lobo Women’s Basketball Tickets Checks Clearing Your Account More Quickly The UNM Women’s Basketball team enters the new year with excitement and high expectations after coming off its sixth consecutive NCAA Tournament appearance last year. The Lobos return two seniors in Dionne Marsh and Brandi Kimble along with a host of young, talented players. UNM has emerged as one of the top women’s basketball programs in the country under head coach Don Flanagan and looks to build upon the winning tradition that has been established. If you think you can get away with a little “float,” think again. It used to be tempting to write a check without actually having the funds in your account to cover it. UNM ranked fifth last season in home attendance, averaging 9,582 rowdy fans a night. The Lobos have ranked in the top 5, nationally, in home attendance for seven straight years and in the top 10 since the 1998-99 season. U.S. New Mexico has a limited number of Lobo season basketball tickets for sale to members. We have 20 women’s tickets on sale at a special discounted price of $100 each. To purchase tickets, please call 342-8832. The Check Clearing for the 21st Century Act (Check 21) became effective Oct. 28, 2004. It was designed to foster innovation and efficiency in the payments system by expanding check truncation. Truncation means removing an original paper check from the check collection or return process, just as credit unions have successfully done for years. You have probably noticed that many merchants now run your check through a machine and return it to you. The check is then transmitted electronically. A recent development called Branch Capture has accelerated the check collection and clearing process even further. The bottom line: Your checks will now clear your account more quickly than ever before. Your Mortgage is Waiting for You at Your Credit Union! Call 342-8836 or 342-8934. Golden Eagles Christmas Luncheon In lieu of the regular December meeting, The Golden Eagles will have a Christmas luncheon at 12:00 pm on Tuesday, December 18 at the Quarters, 4516 Wyoming Blvd. NE, at Montgomery. The cost will be $7 for members and $14.95 for guests, checks only. A sign up sheet will be available at the November meeting and the deadline to sign up is December 13, 2007. You may also call 884-4069 to make your reservation. Join The Golden Eagles for a festive Christmas get-together. Bernalillo County Tax Payments New Websites for Young Adults & Baby Boomers Bernalillo County property tax payments can be made at U.S. New Mexico from November 1 through December 10. Tellers at all five branches will be accepting payments. Make checks payable to the Bernalillo County Treasurer. The amount must match your payment coupon, and your payment coupon must accompany your check. The time and place to prepare for retirement is here and now. Committee Volunteers Needed Credit Union Volunteers are very important to the operation of the Credit union. Several committees, including Supervisory, Technology, Member Education, and Volunteer Development, assist U.S. New Mexico’s Board of Directors. throughout the Credit Union. The committee serves as an advisory group in evaluating software, hardware, services and other technologies that will provide better service and convenience for our members. Volunteers have an opportunity to receive a comprehensive education in various aspects of Credit Union operation, including Financial and Risk Management, Management Policy and Planning, Investment Fundamentals, Budgeting and Strategic Planning. The Member Education Committee’s role is to measure member satisfaction and make members aware of new services and financial products available at USNMFCU. The committee is responsible for identifying, analyzing, and providing education to members. The Supervisory Committee plays a vital role in ensuring the propriety of our operations and activities. Members of this committee typically are proficient in accounting and possess auditing experience. Volunteer Development recruits qualified volunteers for the Credit Union to ensure the effective use of volunteers at the Credit Union by establishing requirements for recruitment, selection, training, and certification. The Technology Committee assists the Board in fulfilling its oversight responsibilities in respect of the overall role of technology and its use If you are interested in more information about becoming a Credit Union Volunteer, please contact Gina Vigil, 342-8838. 2 Get ready for retirement with Plan ItTM: Retire Ready Toolkit. It’s a free online resource that can help you plan for — and achieve — retirement security. Access articles, listen to audio clips, run “what if” financial longevity scenarios, and listen in on the financial conversations on PreRetiree Lane. • • • • Create a personal profile Track your own retirement savings Print personalized charts Make retirement to-do lists Let Plan ItTM help improve your financial future. You have goals and dreams. Will you have the money? Get your money working towards your goals and future without sacrificing the present with MoneyMixTM: Launch Your Life. It’s a free collection of financial tools and articles geared specifically for the opportunities and challenges young adults are facing today. You can even discuss ideas and issues with peers on our interactive blog. Topics include: • Budgeting that matches your priorities • Savings plans that work • Making use — not abuse — of credit Take advantage of Plan ItTM and MoneyMixTM and unlock your potential. Visit usnmfcu.org, click on BOOST YOUR BRAIN POWER, then Information & Resources! 3