CONNECT WITH NEFCU NEFCU Acquires Health One Credit Union We’ve expanded into Michigan and Ohio! Your Credit Union continues to grow with the acquisition of Health One Credit Union, serving members in Michigan and Ohio! The acquisition, which was finalized on December 12th, makes HealthOne a division of NEFCU and adds more than 3,000 members and $15 million in assets to Vermont’s largest Credit Union. The acquisition of HealthOne is part of NEFCU’s strategy to expand into new markets that provide opportunities for future growth. HealthOne serves employees of Blue Cross Blue Shield in Michigan, and Medical Mutual in Ohio, in addition to its community charter. The institution was placed into conservatorship in May 2014 by the Michigan Department of Insurance and Financial Services, which together with the National Credit Union Administration (NCUA), managed HealthOne prior to the acquisition, according to John Dwyer, President and CEO of NEFCU. “As a result of NCUA’s intervention, and following a thorough review by our own Federally insured by NCUA team, we have found HealthOne to be a worthwhile addition to NEFCU,” said Dwyer. “In order for us to continue to provide the types of services and technologies that our members have come to expect, it’s important that we look for opportunities for growth that are consistent with our strengths and our strategic goals. Expanding out of state through this acquisition is a sensible approach that will benefit members of both NEFCU and HealthOne.” Chartered in 1957, HealthOne serves employees of the Blue Cross Blue Shield in Michigan as well as persons residing, working, worshipping, volunteering and attending school in the counties of Macomb, Oakland, Washtenaw, and Wayne. HealthOne also serves employees of Medical Mutual of Ohio in Cleveland, Ohio. HealthOne members will experience no interruption in services as a result of the acquisition by NEFCU, and their accounts will remain whole. February 2015 KEEPING UP TO DATE Nursing Scholarships Available NEFCU’s Nursing Scholarship program promotes education in the medical field while supporting individual student’s career goals. This year, NEFCU will award three $3,000 scholarships to NEFCU members applying to or enrolled in an undergraduate or graduate nursing program. Applications are available at any NEFCU office or online at nefcu.com and must be postmarked no later than February 28, 2015. Holiday Closing The Credit Union will be closed on Monday, February 16, in observance of Presidents’ Day. You can access your accounts 24/7 with Mobile Banking, NEFCUOnline, ATMs or by calling Accountline. Annual Meeting Notice The NEFCU 2015 Annual Meeting will be held on Wednesday, March 25 at 5:00 pm at the Credit Union’s headquarters at 141 Harvest Lane in Williston. Our guest speaker, Dr. Art Woolf from the Economics Department at UVM, will discuss some of the myths and realities of Vermont’s economy and how that influences our perceptions and the reality of Vermont. 1368_MH1505 Let’s Make a Deal Getting more out of Presidents’ Day Auto Sales As the Presidents’ Weekend auto events approach, here are a few time-tested tips to help save you time and money: approach, contact one of our loan officers who are always happy to help you set a budget. 3. Get Your Financing First: Too often, dealer financing costs folks hundreds or thousands of dollars when it’s slipped in after the sale. Here’s a smarter approach: talk to NEFCU. We’ll set you up with a pre-approved loan so you can focus on negotiating the best price on your vehicle. Then, if you end up finding a better financing offer, you’re that much better off. (Don’t forget, you can get NEFCU financing at many local dealerships – just ask!) 1. Know Before You Go: Learn as much as you can about your preferred vehicles before you enter the dealership. Go online to study the models, features, and available trim levels so you can focus only on cars that are a good fit for you. 2. Know What You Can Afford: A sweet new ride will sour quickly if it blows * All rates quotedout are subject to change monthly, the maximum interest rate is 18%. The maycalculators increase after of the loan.tips? These aretoour posted rates; your your budget. Use ourrate online at the consummation Want more car-buying Go nefcu.com/carbuying rate could vary according credit. nefcu.com to determine how much car you to your or call us at 866-80-LOANS. can afford. Or if you prefer the personal IMPORTANT Service Announcement We recently upgraded our core computer system, laying the foundation for future products and services. Please be aware of the following changes that may affect your NEFCU experience: • Savings, Certificate, Consumer Loan, and Business Real Estate Loan account numbers have been converted to a straight numerical format. • Checking account numbers now display in a numerical format. The number is already on your checks, along the center bottom (what the industry calls the “MICR” number). • Account Alert options have changed, and you will need to re-establish these manually – since the new options aren’t identical, we can’t do it automatically. • If you had registered for eDelivery, you will now receive your Monthly, Visa and Mortgage Statements, as well as many notices, electronically. • Some account nicknames may not have automatically converted. If you had established any account nicknames, please confirm these via NEFCUOnline at your earliest convenience. • If you use PFM tools such as Quicken®, you will need to input your new account numbers. • Debit/ATM Card limits have been changed. The daily withdrawal limit is now $500, and the daily purchase limit is $5,000. • ATM deposits: The first $200 of aggregate daily deposits will be made immediately available. • Foreign ATM fees have increased from $1.25 to $1.50. For more information, please see the Quick Reference Guide that was mailed to you in January, or visit the dedicated upgrade website at nefcu.com/upgrade. Seminars at nefcu SCORE ROUND TABLE SERIES THE ART OF SELLING Tuesday, February 3 VERMONT INDIVIDUAL INCOME TAX Tuesday, February 10 VT DISTINGUISHED WRITERS’ SERIES BUDDY EDGERTON 5:30-6:30 PM Thursday, February 12 MASTER YOUR CREDIT RATING - HOW TO BECOME MORE CREDITWORTHY Thursday, February 19 SCORE ROUND TABLE SERIES YOUR BUSINESS AND YOUR LENDER Tuesday, March 3 VT DISTINGUISHED WRITERS’ SERIES EILEEN ROCKEFELLER 5:30-6:30 PM Thursday, March 12 HOMEBUYING AFTER 5:00 Thursday, March 19 These seminars will be held at NEFCU, 141 Harvest Lane, Williston. Seating is limited and reservations are required. All seminars are from 5:30-7 pm unless otherwise stated. Register at nefcu.com or call 800-400-8790. Introducing SimplySmarter Checking™ On February 1st, 2015, we introduced a new, simplified Checking account called SimplySmarter Checking. The new Checking account replaced NEFCU’s previous range of Participation Reward Checking programs and bundled their most popular aspects into one simple account product. SimplySmarter Checking features a simplified fee structure, including a standard monthly fee, as follows: • Monthly Service Fee (with eDelivery of statements)........... $5 • Monthly Service Fee (with paper statements)...................... $7 ∙ A primary or joint account holder with deposit and/or loan balances totaling $25,000 or more ∙ Recurring Direct Deposits into the account, such as payroll or retirement benefits ∙ A primary account holder who is either under age 25, or age 65 and above You can manage your settings to choose either eDelivery or paper statements at NEFCUOnline/eDocuments. The monthly fee will be waived if you meet any of the following criteria: Please note that all members will now be required to pay for check reorders, regardless of past relationship history. See the Pricing Schedule and brochure, mailed to you in January, for complete information about program details and fees. ∙ An average monthly Checking account balance of $500 or more in the account Answers to Frequently Asked Questions and additional information about SimplySmarter Checking can be found at nefcu.com/checking. Retirement: How Much Do You Need to Save? Do you know how much you can expect from Social Security in retirement—or from any pension plan you have? Do you know how much you need to save to make up the shortfall in your desired retirement income? Gather information about any traditional pension and other retirement plans you have. Request a benefit summary plan, including when and how you’ll receive your payments. The Social Security Administration suspended mailing out their annual statements in 2011. For an estimate of your future Social Security benefit, visit http://ssa.gov/myaccount/to set up your account. Then estimate your retirement expenses. In general, you’ll need about 70% to 80% of preretirement expenses. But these traditional formulas may leave you short--due to longer life expectancies, active retirement lifestyles, higher I N S U R E. I N V E S T. R E T I R E. Available through CUSO Financial Services, L.P. (Member FINRA/SIPC) medical expenses, long-term-care costs, and higher property taxes. If anything, overestimate for unexpected spending and factor in annual cost-ofliving increases between now and the time you retire, as well as throughout retirement. A financial adviser, retirement planning software, or Internet calculator can help you calculate how much you need to save to make up the shortfall in your desired retirement income. Remember that even the best advisers and software can provide only an estimate of your needs. Your results will change based on actual investment returns, inflation rates, tax law changes, changes in Social Security, and how long you live, among other things. Copyright 2014 Credit Union National Association Inc. SEMINAR Dealing with Transitions in Employment Wednesday, February 25 * 5:30-7 PM NEFCU, 141 Harvest Lane, Williston Thursday, February 26 * 5:30-7 PM NEFCU, 295 Tuckers Way, St. Albans Reservations Jonathan Whitehouse Call 802-879-8790 or 800-400-8790 to reserve your seat today or reserve online at nefcu.com. Seating is limited. Financial Consultant CUSO Financial Services, L.P. 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. New England 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 or legal advice. For such advice, please consult with a qualified professional. [email protected] 802-764-2626 • 800-400-8790 1368_MH1485
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