Third Quarter, 2012 - Cinfed Credit Union

July 2012 Volume 34 No. 3
Commonwealth
MEMBERSHIP
MEMBERSHIPNEWSLETTER
NEWSLETTER
Looking forward to a strong future
Breathe in the
savings of a low
rate Auto Loan
The Cinfed Credit Union Board of
Directors is pleased to introduce Jay
Sigler as Chief Executive Officer.
With a little help from Cinfed, you
could be rolling down the windows
of a new car. Cinfed is extending the
budget-pleaser rate as low as 2.49%*
on new or used vehicles through the
end of August.
Board introduces new Cinfed CEO
“Jay has been and will continue to be
a strong leader for the credit union,”
said Leroy Miller, Chair of Cinfed’s
Board of Directors. “He understands
and values the importance of
building a strong, financially sound
credit union. I am looking forward to
working with Jay as we continue to
grow this credit union to ensure the
success of our members.”
“I am excited to be working with
the staff, directors and members of
Cinfed,” said Jay Sigler. “Cinfed has
a rich past and promising future, and
I look forward to a strong financial
future for Cinfed and our members.”
Mr. Sigler began his career at Cinfed
in 2001 as Senior Vice-President
of Accounting, and was promoted
to Chief Financial Officer. He has
Seem too good to be true? We'll
sweeten the deal by offering no
application fee and flexible terms up
to 60 months -- even longer for newer
models. Have a loan with another
financial institution? No problem, ask
us about refinancing at this low rate!
served as Interim CEO for the past
five months. Mr. Sigler, originally from
Wooster, Ohio, attended Bowling
Green State University where he
earned both a BSBA and MBA.
New or Used
Loan Rates
as low asAPR
2.49%
Get more relief...
Load up on auto loan extras
Be sure to take Cinfed along to help you enjoy the best deal on
your purchase. You'll feel even better when we help put gas in
the tank by giving you a $50 gas card on loans over $10,000 or
a $100 gas card on loans over $20,000.
That new car or truck shines with more savings with a great rate
and gas money from Cinfed to enjoy the ride!
Apply online at www.cinfed.org or call our 24-hour loan line at 1-888-822-1987.
Ask about our special rates and terms
for auto loans over $30,000!
Remarkable possibilities.
* No down payment option available,
based upon review of credit history. Annual
Percentage Rate is based on loan to value (or
Points Your Way buy down), credit history and
term of loan. Rate not available to refinance
existing Cinfed loans.
Savings update:
Reinvesting
in the Middletown
community
As of May 21, 2012, Thrift Savings Plan participants finally have the availability to
make Roth contributions to their TSP. How are Roth contributions different from
Traditional contributions?
Cinfed recently committed $350k
towards the refinance of a commercial
facility in Middletown, Ohio that houses
the Middletown Preparatory and
Fitness Academy, a charter school
providing education to over
250 students.
Roth TSP or Traditional TSP?
Traditional Contributions – This money is deducted from your paycheck before
tax or pre-tax. That money then grows tax deferred for as long as the money
remains in the TSP. When the money is withdrawn in the future, however, it is
taxable as ordinary income. Once you
have retired, the IRS requires you
to begin taking Required Minimum
Distributions (RMDs) at age 70½.
Roth Contributions –
This money is deducted from your
paycheck after tax. In other words, this
money is taxable as it is earned. This
money will also grow tax deferred for
as long as the money remains in the
TSP. When this money is withdrawn in
the future, however, it is tax-free. The
major benefit with this option is that
the growth on the Roth contributions is
never taxed! Also, RMDs do not apply
to Roth contributions.
Which option should
you choose?
In addition to the features above, there
are other things to consider when
making this decision. If you would like
help determining which option makes
more sense for you, please contact
Brian Bushman at 513-333-3901.
Investments are not NCUA insured, not credit union guaranteed, and may lose value. Registered
Representative Securities offered through Cambridge Investment Research, Inc. A Broker/Dealer,
Member FINRA/SIPC. Investment Advisor Representative Cambridge Investment Research Advisors,
Inc., a Registered Investment Advisor. Cambridge and Cinfed Credit Union are not affiliated.
Holiday Hours
Cinfed will be closed in observance of the following upcoming holidays:
Independence Day: Wednesday, July 4 Labor Day: Monday September 3
This investment is one more example
of Cinfed’s efforts at creating
remarkable possibilities for you and
your community.
Mobile Apps are
coming soon!
We are excited to announce that there
will soon be a mobile app for Cinfed
Credit Union. We will be adding mobile
banking to our list of convenient
account access in 2012!
With your phone, you will be able
access your Cinfed account wherever
you are. Cinfed mobile will be available
on the iPhone, iPad and Android
smartphones, along with browserbased login and texting availability.
We are working to offer the products
you need to make banking with Cinfed
even easier.
Membership rewards:
Have you heard about Cinfed’s
Points Your Way Program? What is
Points Your Way? Think of it as airline
miles for your credit union account.
You earn points for your years of
membership as well as for the interest
you pay on loans* or earn from your
savings accounts.
Moving?
Change of address?
Keep Cinfed informed
Most people would agree that
communication is the key to any
great relationship. That is especially
true of the relationship between your
credit union and you, the member.
By having your correct contact
information, such as mailing address,
phone numbers and email address,
Cinfed can keep you informed of any
policy changes, special promotions,
and information regarding
your accounts.
How do you sign up? There is no
need. Every Cinfed member is
automatically enrolled and already
earning points. Each month you are
awarded points for the interest you
pay and earn.
How can you use your accumulated
points? The next time you need a
loan, you can buy down your rate as
much as .50%*. The next time you
have some extra money you would
like to put into a Certificate Account,
you can use your points to buy up
your rate; or reduce the closing costs
when you purchase or refinance your
home with Cinfed by up to $200.
Do you want to know how many
points you have? Visit us online at
www.cinfed.org and click on Points
Your Way or call 513-333-3800 for
more information.
The point is this: we want to thank
you for your continued support of
Cinfed as you trust us to help with
your financial decisions. With Points
Your Way, you choose your own
possibilities. They truly
are remarkable.
* Credit Card and Student Loan interest is
not included.
When you file a change of address
at the post office, unfortunately, we
do not receive that update, and your
statements will not be forwarded
to the new address. Consequently,
you need to notify Cinfed of those
changes in your personal
contact information.
We strive to keep your account and
personal information secure. Please
help us by making sure we have
the correct data on file. If you have
moved or want to verify your contact
information, please contact us by
calling 513-333-3800 and press “0” to
speak to a Cinfed representative.
Cinfed Board of Directors election results
The annual meeting of Cinfed Credit Union members was held June 5, 2012, in
the lobby of the 830 Main Street branch in Cincinnati. The results of the Board of
Directors’ election were announced.
The following directors have begun
three-year terms:
• Leroy G. Miller
• Carol E. Meyer-Keener
• John J. Woeste
The 2011-2012 officers:
• Leroy G. Miller - Chair
• James E. Horner - Vice-Chair
• Neil J. Roth - Secretary
• John J. Woeste - Treasurer
Branch Hours
Ohio Branches:
• Roselawn Branch
7661 Reading Rd.,
Cincinnati, OH 45237
LOBBY HOURS:
Monday - Friday
9:00 to 5:00
Saturday 9:00 to 1:00
DRIVE THRU HOURS:
Monday - Friday
9:00 to 6:00
Saturday 9:00 to 1:00
• Glenway Crossing Branch
5147 Glencrossing Way
Cincinnati, OH 45238
LOBBY HOURS:
Monday - Friday
9:00 to 5:00
Saturday 9:00 to 1:00
DRIVE THRU HOURS:
Monday - Friday
9:00 to 6:00
Saturday 9:00 to 1:00
• 830 Main Branch –
830 Main St.,
Cincinnati, OH 45202
Monday - Friday
8:30 to 4:00
Saturday 9:00 to 1:00
• Federal Office Building Branch
550 Main St., Rm. 5510,
Cincinnati, OH 45202
Monday - Friday
8:30 to 4:00
Kentucky Branches:
• Ft. Wright Branch
15 George Huser Dr.,
Ft. Wright, KY 41011
Monday – Friday 9:00 to 5:00
Saturday
9:00 to 1:00
Drive thru open until 6 pm Mon & Fri
• Florence Branch
8880 Banker’s St.,
Florence, KY 41042
LOBBY HOURS:
Monday - Friday
9:00 to 5:00
Saturday 9:00 to 1:00
DRIVE THRU HOURS:
Monday - Friday
9:00 to 6:00
Saturday 9:00 to 1:00
• IRS Gateway Center
Limited to Gateway IRS Personnel
333 Scott St.,
Covington, KY 41011
Monday - Wednesday
8:30 to 4:00
Thursday
8:30 to 5:00
Friday
8:30 to 4:00
Congrats to Louis M. Brown/Cinfed
Memorial Scholarship recipients
Cinfed Credit Union is
banking on a bright future
for area students by
awarding fourteen $1,000
college scholarships.
Our congratulations to
the following recipients
of the 2012 Louis M.
Brown/Cinfed Credit
Union Memorial
Scholarship:
Anthony Bode - Ohio State University
Keyasha Wright - Tennessee State University
Nicholas Aerni - University of Kentucky
Kyle Cooper - University of Kentucky
Mark Ellsberry - University of Cincinnati
Kayla Rash - Columbia College Hollywood
Jessica Siemer - Ohio State University
Joshua Fehring - University of Kentucky
Isaiah Fitzhugh - University of Toledo
John McFaull - University of Kentucky
Steven Brinkman - Northern Kentucky University
Zachary Sander - University of Cincinnati
Layne Rice - Cincinnati State Technical College
Carly McFarland - University of Kentucky
The scholarship was established in 2000 as a memorial to Mr. Louis M. (Lou)
Brown, who served on the Board of Directors for 40 years and as President of
the Board for 30 years. The recipients of the scholarships were announced at
the Annual Meeting of Members on June 5, 2012.
Since its inception, Cinfed has awarded $150,000 to further the education of
110 students. It is our philosophy to support and encourage education in the
Greater Cincinnati and Northern Kentucky area.
Congratulations to all of the scholarship recipients!