Holiday Closings

UARTER NOTES
For Members of
Breco Federal
Credit Union
Mission Statement:
“To Improve Our Members’ Financial Position”
V
E
R
BR E CO
DI
SC
O
First Quarter 2007
ING
ETH
SOM
VE
RE
FO
EI
ON
RY
N
...
ILY
AM
F
E
TH
1
CE
SIN
4
93
Don’t Miss the Member
Event of the Year!
Make plans to attend our 72nd Annual Meeting on
Sunday, April 22, 2007 from 3:00 pm to 5:00 pm at the
UCT Hall, 11175 Florida Blvd., Baton Rouge.
Come Discover Breco at our 5 Discover Centers;
Shared Branching / ATMs, FREE Services, Good
Money Habits.com, Financial Planning and Real
Estate Lending. Bring the kids for Camp Breco where
they will have games, contests, prizes and food.
Don’t forget to bring your appetite, as we will have
hors d’oeuvres and refreshments. We will also have
10 cash door prizes drawings with a grand prize of
$500!
Did you Finance Your Car
Somewhere Else?
Then you probably didn’t get the best rate or deal you
could have. It’s okay, we’re here to help. We’ll actually pay you to refinance your loan with us, plus:
• We’ll lower your rate by at least 1% (minimum rates apply)
• We’ll pay you $50 for loans up to $15,000 and $100
for higher amounts once the refinance is completed
• We pay any transfer fees
• Very low priced GAP Protection insurance available
• Extended warranties available at much lower cost
than car dealers
• You can repay your loan through payroll deduction
Call us today to get started. It’s easy. We’ll do all the
work.
3 Reasons to Consider Breco
for your next Mortgage Loan
You know us for checking and savings accounts, auto loans, and many other
personal financial services. But did you also know we do home loans? We
can be your single source for all types of mortgage financing, whether you’re
interested in FHA, VA, conventional, adjustable rate, or other loan programs.
We offer more than 150 different loans, so chances are we have one just
right for your financial objectives.
But there are other important advantages to buying your home with a
mortgage from us.
First, consider the convenience. With all your personal finances
consolidated in one place, life gets just a little easier. Convenience goes
even further with our online mortgage application. We have the most
advanced online mortgage application in the industry, so you can apply
around-the-clock from home or office and receive a firm loan decision within
minutes.
Second, our closings costs are some of the lowest around.
Third, retained servicing of your loan. Almost all mortgage companies will
sell your loan right after you close to another company for servicing; that
is, the collection of your payments, management of your property taxes
and insurance payments (escrow account), issuing statements or payment
coupon books, and other service matters. At Breco FCU your loan is retained
by our mortgage partner, CU Members Mortgage, for superior service long
after closing.
Did you know we can now do Construction Loans? You owe it to yourself to
give us a call the next time you are in the housing market.
Holiday
Closings
Good Friday – April 6th
Memorial Day – May 28th
Independence Day – July 4th
2
QUARTER NOTES - FIRST QUARTER 2007
SAVINGS RATES
Regular Shares, IRAs and Christmas Club: 1.74% (1.75% APY) – Rate paid during last
quarter. Dividends declared at end of each quarter.
*Must maintain minimum average daily balance of $25.00 to earn dividends.
Checking Accounts: .1.00% (1.00% APY) - No monthly service charge, no per check fee,
direct deposit available, free debit card
*Must maintain minimum average daily balance of $100.00 to earn dividends.
APY = Annual Percentage Yield. Rates subject to change without
notice. Penalty for early withdrawal.
Term Share Certificates
($500 Minimum)
6 months – 4.65% APY (4.55%)
12 months – 5.06% APY (4.94%)
18 months – 5.11% APY (4.99%)
24 months – 5.16% APY (5.04%)
36 months – 5.16% APY (5.04%)
48 months – 5.20% APY (5.08%)
60 months – 5.25% APY (5.12%)
LOAN RATES
New Auto & Motorcycle: Up to 100% financing, .25% discount for 10% down, .50%
discount for 20% down
5.24% - 13,24% APR, Terms from 24 - 72
months (72 month term available ONLY on
loans over $25,000) (84 month term available ONLY on loans over $35,000)
Used Auto & Motorcycle: Up to 100% financing, .25% discount for 10% down, .50%
discount for 20% down: (Loans up to NADA
Retail Value)
5.24% - 13,24% APR Terms from 24 - 72
months (60 month term available ONLY on
loans over $10,000, 72 month term available ONLY on loans over $15,000)
Signature: Borrow up to $15,000 for personal needs.
9.50% - 18.00% APR - Terms from 24 - 60
months
Student Tuition: Borrow up to $15,000 for
school tuition.
6.95% - 13.95% APR - Terms from 9 -12
months
Share & Share Certificate Secured: Borrow against funds in your regular share
account or share certificate
Share Secured - 4.00% APR
Share Certificate Secured - 2.0% APR
above certificate rate
($10,000 Minimum)
6 months – 4.75% APY (4.65%)
12 months – 5.15% APY (5.03%)
18 months – 5.20% APY (5.08%)
24 months – 5.25% APY (5.13%)
36 months – 5.25% APY (5.13%)
48 months – 5.30% APY (5.17%)
60 months – 5.35% APY (5.22%)
Home Equity: Borrow on the equity in your
home. Up to 100% Loan to Value.
6.50% - 15.00% APR - Terms from 5 – 15
years
Home Equity Line of Credit - Up to 100%
Loan to Value. Credit card and check access to your line.
8.25% APR – Adjustable rate
LIKE IT?
Let Us
Finance It
For You
Personal Computer: Finance the purchase
of a new PC, 90% financing
8.75% - 16.50% APR - Terms from 18 – 36
months, borrow up to $5,000
New Boats, 4 Wheelers, Jet Skis, Lawn
Tractors: Up to 100% financing, .25%
discount for 10% down, .50% discount for
20% down
5.75% - 13.25% APR - Terms from 36 - 72
months
Used Boats, 4 Wheelers, Jet Skis, Lawn
Tractors: Up to 75% financing
7.75% - 15.25% APR - Terms from 36 - 60
months
New Motor Homes / Travel Trailers: Up to
100% financing, .5% discount for 20% down
6.75% - 15.75% APR - Terms from 5 – 10
years
Used Motor Homes / Travel Trailers: Up
to 80% financing
9.25% - 18.00% APR - Terms from 5 – 10
years
1st Mortgages: 15, 20, 30 and 40 year
fixed rates and adjustable rates available.
Call 1-800-366-6041 to pre-qualify or go to
www.homeloancu.com
Call us for current rates
Visa Platinum: 9.9% - No annual fee, 25
day grace period
Visa Classic: 12.9% - No annual fee, 25
day grace period
Land Loans: Purchase acreage or raw land
7.00 – 14.50% APR - Terms from 10 – 15
years, 80% LTV financing
APR = Annual Percentage Rate. Loans
granted on approved credit. Rates, terms
and loan limits determined by credit criteria.
Rates are subject to change. Call for current rates.
3
QUARTER NOTES - FIRST QUARTER 2007
Late-in-life Parents Balance Raising Children and Thinking about Retirement
from Social Security (based on
someone retiring in 2007 at age
62 receiving maximum benefits),
for example, that could turn
into $34,200 if you have two
children.
Over the past 25 years, people
increasingly have postponed
having children to focus on their
careers and other pursuits. In
fact, the birth rate for women
between 40 and 44 has more
than doubled since 1981,
according to a 2006 report from
the National Center for Health
Statistics. Today, more families
are trying to balance work with
raising children and, at the same
time, navigating the shores of
retirement while still facing the
rapids of parenthood.
Retirement, with its potential for
diminishing income, combined
with the expenses of having
children at home or in college,
can present real challenges.
But with careful planning, and
the help of a qualified financial
advisor, active parenting in your
40s and 50s doesn’t have to
mean putting off retirement until
your 80s.
Retirement versus
education –
put retirement first
Reports about the rising cost of
tuition may tempt you to commit
a significant part of your savings
for your child’s education. But
it is important to consider your
own retirement before or along
with your child’s education.
Remember, you can get loans
or financial aid for a college
education but you can’t for
retirement. And with rising life
expectancies you may need to
fund your retirement for up to 30
years. With this in mind you may
want to consider contributing
the maximum to your retirement
plans before funding education
savings vehicles such as
Coverdell accounts or 529
plans. Older parents may find
this particularly helpful because
withdrawals from IRAs and
401(k)s after age 59½ are
taxed but can be made without
penalty, and IRA funds can be
used for college tuition without
penalty even before then.
Money in 529 plans can only
be used for college. That said,
funding a retirement plan only
Making choices to
maximize your income
for education is probably not
the best choice. Before making
any decisions it is best to meet
with a financial professional who
can discuss the benefits and
restrictions of various college
and retirement savings options.
Another benefit to saving for
retirement first is the fact that
retirement plans are not counted
when determining your family’s
eligibility for federal financial
aid. Therefore, the more you tilt
assets toward these accounts,
the greater the possibility you
may qualify for grants or lowinterest student loans.
Protecting your family
While a risk for everyone, the
death of one or both parents is a
possibility older parents should
take seriously, particularly
if their children are young.
Protecting your family in this
situation requires two essential
ingredients: insurance and a will.
Consider purchasing adequate
life insurance to replace
potential lost income until your
children are 22. Also, think about
purchasing disability insurance,
particularly if you have many
working years ahead, as well
as long term care insurance,
if you are nearing retirement.
These policies can help ensure
that your children will have the
resources to stay on course
whether you die, have to stop
working or need to live in a
nursing home.
A will is something everyone
should have. For older parents,
it’s essential that your will
names a legal guardian should
both parents die before the
children are 18. While difficult
to think about, a proper will can
mean the difference between
children with a chance to fulfill
their dreams, and those who
may have to make life-changing
compromises.
Help from Social Security
If you are collecting Social
Security retirement benefits and
you still have children at home,
the government will kick in a
little extra. Each unmarried child
under the age of 18 can receive
up to half of what you receive,
up to a household maximum of
180 percent of your benefit. If
you receive $19,000 per year
When having a child later in life,
you may need to reset some of
your retirement expectations.
This may mean putting off
retirement for a few years, but
not forever. Even an extra year
or two on the job can make a
big difference, particularly at the
end of your career when you
are likely to be making a higher
salary and therefore contributing
more to your 401(k) and other
savings accounts.
When retired people have
children at home they may need
to make spending tradeoffs. Will
their extra money go toward
a vacation or riding lessons?
How about a new car or tennis
camp? A spending plan can help
you prioritize these decisions.
A qualified financial advisor can
help you devise a plan, evaluate
your insurance needs and stay
on track for your own retirement
without short-changing your
children’s aspirations.
Provided by
Gregory A. Fulcher, CFP®, CSA,
CERTIFIED FINANCIAL PLANNER ™
practitioner,
1-888-723-9223, Gregory.a.fulcher@
ampf.com.
This information is provided for
informational purposes only. The
information is intended to be generic
in nature and should not be applied or
relied upon in any particular situation
without the advice of your tax, legal
and/or your financial advisor. Neither
Ameriprise Financial nor its advisors
or representatives provide tax or legal
advice. The views expressed may not
be suitable for every situation. Consult
with qualified tax and legal advisors
concerning your own situation.
Financial advisory services and
investments are offered through
Ameriprise Financial Services, Inc.,
member NASD & SIPC.
© 2007 Ameriprise Financial, Inc. All
rights reserved.
File#57505
4
QUARTER NOTES - FIRST QUARTER 2007
BOARD OF DIRECTORS
Sam Dispenza
Fred Allen
Ron Gilkey
Billie Fortenberry
Claudia Hurst
Torris Pelichet
Rehnea Sharp
Joey Albert
Keith Dantin Chip Arnould Gerrie Ashley
Chariman
Vice Chairman
Recording Officer
Financial Officer
Member
Member
Member
Member
Member
Member
Member
SUPERVISORY COMMITTEE
Angela Brewster
Joyce Buchanan
Jack Hatcher
Shaw Group
Government St.
Essen Lane
MEMBER REPRESENTATIVES
Cheryl Dispenza
Debbie Dodson
Rodney Whitley Tim Williams Bill Stuart Lisa Creekbaum
Cindy Ibert
Dana Boyd
Roy Hodgeson
Gary Kling
Ruebin Gourley
Dana Woods Gwynne Tullier Judy Israel Sherri Eschete
Lloyd Brandon
Mary S. Moore
Lena Moran
Ella Kirby
Larry Myers Gwen Triplett
Brenda Juneau
Pam Romano
Sharon McAdams Candace Daigle Theresa Coleman
Deborah Moran
Paul Blouin
Jan Norris
Judy Hergruder
Valerie Deshotels
Terry McGarity
Mary Beth Harris
Lisa Baker
Christy Cassells
Lisa Burgess
Simone Landry
Mary Poole
Nikki Jordan
Shannon Chapman
Darryl Jones
Michael Allen
Mac Leger
David Martinez
Rhonda Ramirez
Heather Duncan
Government St.
Nelson Station
Riverbend
Riverbend
Riverbend
Riverbend
North Blvd.
Sterlington
Willow Glen
Louisiana Station
Louisiana Station
Choctaw
Choctaw
Choctaw
Choctaw
Hammond
Denham Springs
Essen Lane
Port Allen
Port Allen
Zachary
Lake Charles
Reserve
Denham Springs
Ferris Engineering
Vector Electric
Vector Electric
LA One Call
Power & Control Systems
East Jordan Iron Works
Cox-Walker
Englobal Engineering
Spectrum Engineering
Sunland Fabricators
Wampold Companies
Shaw APP
Shaw Group
Shaw Group
Shaw Group
Shaw Group
Michoud
Magnolia
Lafayette
Little Gypsy
Sunland
Highlines Construction
Company
MAIN OFFICE
1850 S. Sherwood Forest Blvd.
Baton Rouge, LA 70816
(225) 273-1529
(225) 273-4697 Fax
Toll Free: 1-800-361-1631
Loan Line: (225) 381-5790
North Blvd. Branch
446 North Blvd.
Baton Rouge, LA 70802
(225) 381-5791
8-555-5791 Inside Entergy
Hours: Monday - Friday 9:00 am - 5:00 pm
Drive-Thru Hours - 8:00 am - 5:00 pm
Website address: www.brecofcu.com
(225) 381-5783 Fax
Shaw Satellite Office
Office, 225-932-5859
(225) 932-5860 Fax
ATMs:
Main Office (Drive thru) • Riverbend Nuclear Plant
Shaw Building
Sur-Charge Free ATM location can be found at
www.selectatm.com and www.cu24.com
Credit Union Service Centers
Baton Rouge - 7018 Siegen Lane
Harvey - 1520 Westbank Expwy.
Metairie - 5500 Veterans Blvd. #100
Shreveport - 5804 Line Ave
Mandeville - 1291 N. Causeway Blvd, Suite 3.
Monday - Friday 9:00 am - 7:00 pm
Saturdays 9:00 am - 5:00 pm
Other outlet locations available nationwide.
Call for the location nearest you.at 1-800-919-2872
or www.cuservicecenter.com
Staff
Main Office:
Ronnie Stephens, President & CEO
Cheryl Kirby, Asst Manager
Melissa Firmin, Operations Supervisor
Latasha Harris, Loan Officer
Courtney Gatlin, Teller/Member Services Representative
Michael Averett, Jr., Accountant
Lori Vige’, Opeations Assitant
Carla Saenz, Teller
Erin Templet, Teller
Tasia Vernon, Teller
Jennifer Tucker, Teller
Brandy Sibley, Electronic Funds Specialist
North Blvd.:
Kim Falgout, Branch Manager & Senior Lender
Brenda Simpson, Loan Officer
Mary Tillmon, Member Services Representative
Keely Guest, Teller
Ginger Deroche, Teller Shaw Satellite Office:
Nancy Teer, Branch Manager
Breco Federal Credit Union
Surcharge Free ATMs
in Baton Rouge Area
Addis
Plaquemine
Iberville Bank:
7451 Hwy. 1 South Baton
Rouge
Dow Louisiana FCU
21925 Hwy. 1 South
Baton Rouge
Iberville Bank:
23555 Myrtle Grove Rd.
CU Service Center:
7018 Siegen Lane
C & C Chevron:
24445 Eden St.
Campus Federal Credit
Union:
2237 S. Acadian
LSU Student Union
3535 Nicholson Ext.
6230 Perkins Rd.
257 Lee Dr.
Belleview Mobil:
58830 Belleview
B.R. Telco FCU:
2226 Wooddale Blvd.
13404 Airline Hwy.
Lucky Louie’s Truck Stop:
4169 N. River Rd.
514 Hwy. 190 W.
Dow Louisiana FCU:
6725 Siegen Lane
Brusly Chevron:
3847 Hwy. 1 South
E Federal CU:
3663 Monterrey Dr.
3861 Scenic Hwy.
Grand Paradise:
520 Hwy. 190 West
Langham Chevron:
1111 Lobdell
Iberville Bank:
9250 Siegen Lane
Port Allen
Iberville Bank:
780 Court St.
LA 1 South:
3191 Hwy. 1 South
Britton & Kontz Bank:
8810 Bluebonnet, Ste. A
Prairieville
Texaco Food Mart:
7980 Airline Hwy.
Iberville Bank:
17463 Old Jefferson Hwy.
Carville
St. Gabriel
Iberville Bank:
5445 Point Clair Rd.
Iberville Bank:
6120 Hwy. 74
Denham Springs
Iberville Bank:
1441 S. Range Ave.
For a complete listing of surcharge free
ATMs nationwide, go to www.brecofcu.
com and click on “About Us”, “Locations and Hours” and “ATM Locations”
REMEMBER...Immediate family members
of our sponsor companies and retirees including
spouse, child, sibling, parent, grandparent, grandchild,
stepparents, stepchildren, stepsiblings and adoptive
relationships can become Breco FCU members!