cents abilities - South Jersey Federal Credit Union

Making the most of your dollars & cents...
Cents Abilities
The South Jersey Federal Credit Union Quarterly Update
Summer 2014
1
CENTS●ABILITIES
Volume 8.3 - Summer 2014
I n s i d e
3
Who’s In Charge of Your Retirement?
4-5
2014 Scholarship Winners
6
Summer Sizzler Car Sale
8
Credit Union Auto Club
9
Have You Tried Our New ePay?
11
Now Is The Time To Buy A Home
12 - 13
Welcome To The Family
15
Second Quarter Dividends
Calendar
Welcome!
The future looks bright on all fronts for our
SJFCU members. Inside this newsletter,
you’ll read about new initiatives and new
products designed to create a great future,
both short-term and long-term.
The tech future is in your hands now with
our new online bill payer system, ePay.
With streamlined efficiency and many
new applications, we urge you to use this
upgraded feature of our online SJFCU
presence. If you’ve never tried online
billpaying before, now’s the time to try ePay
on for size – we’re sure it will fit you!
Your future goals will one day include
retirement with all the wonderful things that
can entail. But those good things in your
future can only come true if you set up an
individualized plan to make it all happen
– with savings and investment planning.
Check out how our LPL investment advisor
can help you.
Your immediate future may include a new
vehicle for you and your family – if you take
advantage of the great deals offered at the
“Summer Sizzler” car sale event later this
month. With low, low interest rates, you’re
bound to find the perfect car, truck or SUV
for your needs.
The future seems limitless for the eight
young students who are this year’s
SJFCU scholarship recipients. Join me in
congratulating them, and read about their
inspiring accomplishments as they set out
for a future that seems marked for success.
Sincerely yours,
Benjamin T. Griffith
President/CEO
Cents●Abilities
Who’s in Charge of Your Retirement?
YOU, that’s who!
No matter your age –in your 20s, your 40s, or already
in your 50s or 60s and seeing retirement right on the
horizon – you can and should begin planning for your
retirement.
In fact, like savings generally, it’s never too early to
begin. Don’t think that because you’re 25 years old
you don’t need to take any constructive action for a
retirement that is decades away. You need to start now, for every year you invest –
however small the amount might be – the better off your future will be. Similarly, if
you’re 50 years of age: don’t think it’s too late to start! Even now, you can take steps
to prepare a sizable nest egg.
According to an article titled “How Much Do You Need to Retire?” published on
standardandpoors.com, “The pleasure and comfort of your later years depend, to an
ever-increasing degree, on the actions you take today.”
The article reiterates the advice to be pro-active in planning: “The responsibility for
the bulk of your nest egg rests with you. Social Security represents approximately
36% of the aggregate income of Americans aged 65 and older.” An accompanying
chart also shows that only an additional 18% of income for seniors comes from their
private and/or government pensions.
As David Graham, LPL registered investment advisor here at SJFCU, notes, “If 36% of
your retirement incomes comes from Social Security and 18% comes from pensions,
for a total of 54%: Where does the other 46% come from? The answer is - you!”
Graham continues, “That other 46% you need to live comfortably in retirement
comes either through supplemental savings vehicles, that I can assist you with, or
from a part-time job. But is it really retirement if you’re still working?
Don’t drift along thinking that Social Security and perhaps a company pension (if
indeed you even have the latter) are enough to cover your expenses once you retire.
Make your plans now.
Graham, the LPL financial advisor, is happy to meet with members who want to
learn more about planning for a secure and worry-free retirement. You can set up an
appointment with David by going to www.southjerseyfn.com or by calling 800-5827640. Don’t delay – your future depends on it!
Securities and Financial Planning offered through 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.
NOT NCUA INSURED NO CREDIT UNION GUARANTEE MAY LOSE VALUE
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South Jersey Federal Credit Union
2014 Scholarship Winners
South Jersey Federal Credit Union presented its
2014 academic scholarships to eight academically
talented and community-focused local students
from among dozens of applicants this year.
Our SJFCU scholarship winners will be attending
colleges and universities throughout the Northeast, from New Jersey
to Pennsylvania to Rhode Island. The winners were honored at a ceremony in June
at SJFCU’s Deptford branch at which Benjamin T. Griffith, President/CEO, presented
them with their scholarship checks and commemorative certificates.
Selection of the group of winners was based on a range of criteria, including high
school academic achievement, standardized test scores, extracurricular activities, and
demonstrated community involvement. Each applicant also was required to compose
an essay explaining why a person should consider switching to a credit union.
Shown receiving their scholarships are, from
left, Samantha Becker, Samuel Shopp, Brea
Brown, SJFCU President/CEO Benjamin T.
Griffith, Daniel Roque, and Jeffrey Martin.
(Not pictured: Christl Stringer, Tabitha
MacKenzie and Justin Smith.)
$1,000 Scholarships
Jeffrey Martin, a graduate of Hammonton High School, will attend
Gettysburg College this fall where he plans to major in political
science. Jeffrey, a resident of Atco, attained the rank of Eagle Scout
in Boy Scout Troop 159, where he served as senior patrol leader. As
his Eagle Scout project Jeffrey completed a clean-up of a Civil Warera cemetery. Jeffrey participated in his school’s marching band and
jazz band, and was named to the Atlantic Cape Honors Band. He has done volunteer
work at the Academy of Natural Sciences.
Daniel Roque, a resident of Mays Landing, will attend Brown
University to major in biology, with a goal of attending medical
school. The Oakcrest High School graduate did extensive volunteer
work at AtlantiCare Medical Center, and served as president of his
school’s chapter of Habitat for Humanity. Daniel played soccer, and
track and field, at school, and was named a varsity scholar. He served
as his class president for two years and another year was elected class secretary. He
also was elected to National Honor Society and served as its president.
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Cents●Abilities
$750 Scholarship
Samuel Shopp will attend Rutgers University to major in science; his
goal is to earn a graduate degree in physics and go into either research or
education. The Haddon Heights High School graduate was co-captain of
the cross country team and the school’s Academic Challenge team. Samuel
served as secretary in the National Honor Society. He volunteered as a
camp counselor at Haddonfield Plays and Players.
$500 Scholarships
Samantha Becker will attend Seton Hall University to major in art history.
The Woodbury High School graduate plans to pursue an advanced degree
in art history, with the goal of becoming a museum curator. Samantha was
editor of the yearbook, senior class vice-president, vice president of the
National Honor society chapter, in the club Interact and participated in
concert band, jazz band and wind ensemble.
Christl Stringer graduated from Oakcrest High School and will attend
Montclair State University this fall. She served as senior class vice
president and secretary of the school chapter of Habitat for Humanity.
Christl ran track, served on student council and was a member of the
Mays Landing United Jazz Band and the Atlantic Cape Honors Band.
$250 Scholarships
Brea Brown will attend Rutgers University this fall where she will major
in science, with a long-term goal of attending medical school. A graduate
of Lindenwold High School, Brea has volunteered at Kennedy Memorial
Hospital and was selected as class president for two years running,
and a third year as class secretary. Elected to her school’s chapter of
National Honor Society, she was also named to both the National Math
and National English Honor Societies.
Tabitha MacKenzie graduated from Hammonton High School and will
attend Caldwell University to study elementary education. The captain
of her school’s track and cross country teams, Tabitha also was a member
of National Honor Society .She worked on the prom and homecoming
committees and was named to the principal’s Honor Roll multiple times.
Justin Smith will attend LaSalle University to major in finance and
accounting. Smith graduated from Timber Creek High School where
he played varsity soccer; and captained the Timberbirch Broadmoor
Athletic Association club soccer team. Justin was named to the All
South Jersey first team in his school’s soccer conference. He also served
as a student council representative and volunteered at his church.
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South Jersey Federal Credit Union
SJFCU Turns to Turnersville: Nissan/Hyundai Deals for a
Summer Sizzler Sale!
South Jersey Federal Credit Union will team up with Nissan of Turnersville
and Hyundai of Turnersville for a Super Car Sale set for six days over two
weekends in the month of July:
Friday, July 18
Saturday, July 19
Monday, July 21
9 am-9 pm
9 am-6 pm
9 am-9 pm
Friday, July 25 Saturday, July 26
Monday, July 28
9 am-9 pm
9 am-6 pm
9 am-9 pm
We don’t want any of our members to miss out on this sale! We’ll have our
own SJFCU staff on site all 6 days taking loan applications. But, if you want
to save time, we’re offering to get you pre-approved for a loan. And, the
best thing about the sale is...
You can finance a New Car or Truck for as low as 1.39%* APR for up to 3
years or a Used Car or Truck for as low as 2.39%* APR for up to 3 years.
These are the lowest auto loan rates in SJFCU’s history. That
translates to EASY and AFFORDABLE payments when you borrow from
SJFCU, the credit union you trust!
Choose your car from Nissan of Turnersville’s and Hyundai of Turnersville’s
extensive new and used car inventories. You can even browse the
inventories ahead of time by clicking on www.turnersvilleautomall.com.
This is a sizzling good chance to get super sizzling deals this summer! Call
us today at 800-582-7640 to get the pre-approval process started now, and
come join us in Turnersville for the:
SUMMER SIZZLER
CAR SALE!
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Cents●Abilities
Lowest
Rates
Ever!
SUMMER SIZZLER
CAR SALE!
July 18, 19, 21 & July 25, 26, 28
Visit Us At Nissan and Hyundai of Turnersville
3400 Route 42, Turnersville
when you buy a car at
Nissan or Hyundai of Turnersville
only during the Summer Sizzler Sale
Sale Hours: Fri: 9am-9pm, Sat: 9am-6pm, Mon: 9am-9pm
NEW
CAR LOANS
as low as
1
39APR%*
up to 36 months
USED
CAR LOANS
as low as
2
39APR%*
up to 36 months
*Offer good on cars purchased from Nissan and/or Hyundai of Turnersville only. Rates valid through August 1, 2014.
Auto loan rates quoted are for Premier category, up to 36 months 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. Other rates and terms available to qualified borrowers. Rates and terms subject to change at any time at the
discretion of the credit union.
at least 25
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South Jersey Federal Credit Union
Now Available: Credit Union Auto Club & “Love My Credit Union” Rewards
Through our partnership with Love My
Credit Union Rewards, SJFCU has even
more to offer members not only for the
vehicles they select to purchase, but also
for the periodic auto roadside help that
every driver needs!
SJFCU has added another program to its
lineup of special services available only for credit union members! It’s the Credit
Union Auto Club. The Auto Club offers roadside assistance to participating
members, providing great service and value in roadside auto protection.
Compared to competitor auto club plans, the Credit Union Auto Club offers
significant savings.
Some of the benefits that membership in the Auto Club offers you include:
• emergency roadside assistance
• emergency towing and/or extrication
• emergency lockout serve
• flat tire repair, and
• fuel delivery service
There are both individual plans and varied family plans, offering great values for
members! The Credit Union Auto Club is available to assist you 24 hours a day,
365 days a year. Learn more by going to www.lovemycreditunion.org or simply
click on the Auto Club icon on our website.
Don’t forget about another great service offered – the Preferred Pricing on
General Motors vehicles through GM Credit Union Member Rewards program!
The Rewards Program offers the opportunity for credit union members to get an
even deeper discount on auto loans for Chevrolet, Buick or GMC vehicles.
Here’s how it works:
• You must be applying for the CU Member Rewards Program for the brands
named above
• Go to the Invest In America (IIA) website, at www.lovemycreditunion.org
• Scroll down, and click on the “Exclusive Discounts” banner showing the GM,
Buick and GMC logos. You’re now on the GM Credit Union Member discount
page, where you can start the process to receive preferred pricing on eligible new
GM vehicles.
• The page instructs you to click on the banner showing car photos to get your
GM Authorization Number. Once you have that number, you can click on the
link to SJFCU’s loan application and proceed to apply for your loan online, Or,
take your authorization number to your nearest SJFCU branch for pre-approval,
and then head out to your auto dealership.
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Cents●Abilities
Have you tried the new ePay yet?
SJFCU’s new bill pay program – ePay – is now up and operational.
Whether you’re a long-time user of SFJCU’s bill payer or you’re
new to the concept and thinking of “getting on board,” you can
now experience the exceptional ease and convenience of online
bill payment.
With ePay, you get
• Organization – Manage all your payments from one convenient location
• Control – Unlike automatic debiting, you can change, edit, or stop pending
payments.
• Convenience – Pay anyone whom you normally pay by check.
Visit our website www.SouthJerseyFCU.com and click on “ePay Demo” to familiarize
yourself with ePay. You’ll see how easy it is to navigate: it’s the easier, faster and safer
way to pay your bills! As long as you utilize it regularly to pay your bills, ePay is FREE
for your use! And it offers so many new features:
• ePay offers you the ability to make expedited payments. You can either overnight
a check (for next day payment) or make a same-day expedited payment. A small fee
for this new service is minimal, compared to the consequences of a late payment.
Example: You suddenly remember a credit card payment is due tomorrow - if you
miss their deadline it means a late fee and the chance your credit card’s interest rate
might go up significantly.
• Account-to-account transfers. This allows you to transfer funds from one
financial institution to another. You can move money to your SJFCU checking or
savings account – easily and safely!
• Popmoney lets you do “person-to-person” fund transfers. All you need is the
recipient’s cell number or email address. Pay your share of last night’s meal or send
birthday funds to a relative!
We think you’ll like what’s in store for you with the new ePay Bill Pay system!
ePay TIPS
• Remember that the funds will come out of your account when the biller
receives payment - be sure you have funds available that day.
• Confirm that the address on your bill matches the address on ePay. Make
necessary changes if needed to avoid payment delays.
• Have you tried Popmoney yet?
• Have trouble signing on to the ePay site? Make sure you’re allowing popups for the ePay URL.
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South Jersey Federal Credit Union
Your home could be worth more
than you think!
Time to get to bat on all of those home improvement projects. And,
to help you get the job done, SJFCU has increased its home equity
loan-to-value amount...you can now borrow up to 95% of the equity
in your home, up to a maximum of $25,000. In addition to low
rates, SJFCU’s home equity loans have no closing costs and are tax
deductible**!
Home Equity Loans
Up to 85% LTV
2
99%
*
apr
Up to 5 years
Up to 95% LTV
3
99%
*
apr
Up to 5 years
*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 700. Premium
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. Closing costs included in rate. Title insurance required for loan amounts over $100,000. Other home
equity loan 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. NMLS#771963.
at least 25
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Cents●Abilities
The Housing Market + SJFCU are Ready for You!
Now is the time to take the plunge and
move into the real estate market – and
you’re in one of the best markets to
do so!
A spring 2014 survey, commissioned
by real estate tracking firm Zillow.com,
compiled a list of the 10 best markets
in the nation for home buyers.
Among the findings: The metro Philadelphia market (which includes South Jersey)
is the second-best market in the country! Our local real estate market ranked
ahead of such areas as Chicago, New York and Baltimore for home buyers!
“Top buyers’ markets tend to have lots of inventory, steep price cuts and homes
that linger on the market,” said Cory Hopkins, a Zillow.com representative.
Hopkins said that the company assembled and reviewed data – including
sale-to-list price ratios, the number of days homes were listed in a market,
and the percentage of homes on the market showing a price cut – to compile
the new rankings.
Locally, University of Pennsylvania economist Kevin Gillen also did a firstquarter analysis of housing data in the metro region, covering 11 area counties
(including South Jersey). “Average house prices in the region are barely above
the post-bubble bottom they hit two years ago,” he said. Gillen noted that price
declines were spread out almost uniformly across the region, and that nearly
every county experienced some price deflation. For example, Gillen found that
Camden County home prices fell 13.6 percent in the first quarter of 2014.
The experts agree - the time is ripe to get into the market, whether you’re
looking for your first home, or looking to downsize to a smaller house to
reflect your changing lifestyle, or even move into a larger home if your
family is growing.
No matter your circumstances, the lending staff at SJFCU is here to assist you
with great rates and outstanding member service for your particular situation.
Follow up and be pro-active on the trends mentioned above – take advantage of
the large inventory that’s out there and start the process to own your own home!
Get in on the buyer-friendly local housing market now! Call 800-582-7640
or stop by a branch to learn everything you need to know.
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South Jersey Federal Credit Union
e
m
o
c
l
e
W
to the Family
yer Groups
New Emplo
with SJFCU
Global Industries, Inc., Marlton
Founded 50 years ago, Global Industries, Inc. is in the business of office
furniture distribution. Its corporate headquarters and showroom are in
Marlton with a third local office in Mount Laurel. Global Industries,
Inc. is an international firm, with offices throughout the U.S., Canada,
Mexico, South America, Asia, Africa, and Europe.
Hutchinson Plumbing Heating Cooling, LLC, Cherry Hill
Hutchinson Plumbing Heating Cooling, LLC provides
heating, ventilation and air conditioning (HVAC)
mechanical services to both residential and commercial
customers. It is a third-generation family business, serving customers in Gloucester,
Camden and Burlington counties and in eastern Pennsylvania and Delaware.
Interior & Design, LLC, Sewell
Established 25 years ago, Interior & Design, LLC, is a full service
interior design firm catering to both commercial and residential
clients. The company works with clients to renovate and improve
the functionality of both workspaces and living areas.
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Cents●Abilities
Mi Casita Day Care Center, Inc., Camden
Mi Casita Day Care Center, Inc. is a non-profit organization that
serves children and families residing in Camden County. Established
in 1972, Mi Casita offers quality early care and educational activities.
It was the first day care center licensed in the State of New Jersey as
bi-lingual and bi-cultural.
The Salvation Army, Camden
Since its founding 132 years ago, the Salvation Army has
been in the business of providing care and services to all
people. This summer, the local Salvation Army officers and
staff are moving into the new 120,000-square-foot Ray and
Joan Kroc Corps Community Center. The facility includes
a double-size gym, an eight-lane pool, a library, and classrooms for music, visual
arts and technology; outdoors are basketball courts, baseball fields, a soccer field,
playgrounds and walking trails.
Security Resources, Inc., Cherry Hill
Security Resources, Inc. provides security guards and
investigative services to clients in Philadelphia, New Jersey,
New York City and throughout the country. The firm went
national in 1999, partnering with security companies throughout the U.S. and
Canada. They implement comprehensive investigative services, including undercover
operations, e-commerce investigations, background checks, and surveillance
South Jersey Water Test, LLC, Williamstown
In business since 2002, South Jersey Water Test, LLC (SJWT) provides certified
professional water analysis and septic inspections. The firm’s laboratory is
centrally located to serve all South Jersey counties. SJWT is South Jersey’s
only New Jersey Department of Environmental Protection (NJDEP) certified
testing laboratory focused solely on the sampling and analysis of drinking
water. It serves homeowners, as wells as realtors, home inspectors, well
drillers, landlords, homebuilders, and business owners.
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South Jersey Federal Credit Union
Vacation Club
2014
The easiest way to
save for your dream
vacation!
Deposit money with each paycheck
or as often as you want. Even if you
only save $10 a week, that’s $520 plus
interest you’ll have for your next
vacation.
FREE GIFT WITH
ENROLLMENT!
*While supplies last, receive
a free gift when you enroll
in the SJFCU Vacation Club.
Restrictions apply, see below.
Start my club in:
July 2014
(Funds avail. 7/1/15)
October 2014
(Funds avail.10/1/15)
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______________________________________
OFFICE USE ONLY
Payment method:
Frequency:
$___________
P/D
Weekly
Mail
Bi-Weekly
Monthly
10 Month School Plan
Payroll #__________ Initials_______ Gift Received Y/N
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Cents●Abilities
Second Quarter Dividends
Rate
APY*
Statement Savings
$100 - $4,999
$5,000 - $24,999
$25,000 and Above
0.10% 0.10%
0.20% 0.10% - 0.18%
0.25% 0.18% - 0.25%
Teachers Club
$100 - $4,999
$5,000 and Above
0.10%
0.20%
0.10%
0.10% - 0.20%
Vacation & Christmas Clubs
Money Market
Super Money Market
Mega Money Market
0.20%
0.18%
0.25%
0.45% 0.20%
0.18%
0.25%
0.45%
0.40%
0.55%
0.90%
0.40%
0.40% - 0.49%
0.49% - 0.90%
1.25%
1.26%
IRA - Traditional/Roth/Coverdell
$0 - $19,999
$20,000 - $49,999
$50,000 and Above Special Offer
18 Month Share Certificate or
18 Month IRA Share Certificate
Rates subject to change without notice.
*Annual Percentage Yield.
Calendar
July 2014
4 - Independence Day - Offices Closed
September 2014
1 - Labor Day - Offices Closed
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