BOSTON
FIREFIGHTERS
CREDIT
UNION
VOLUME 16, NO. 4
FALL 2009
the
Exchange
NOW YOU CAN DO MORE
WITH BFCU HOME BANKING
AND BILL PAY
NEW SYSTEM
BRINGS GREATER
FUNCTIONALITY AND
MORE FEATURES
What’s
New?
New Technology
President’s Message
Holiday Loans
Refer A Colleague Today
Auto Loans
As Low As 3.99%
Beating ATM Fees
Home Financing Corner
Snow Bird Addresses
Christmas Club
Holiday Closings
On Tuesday, October 13, 2009 we
will complete the final step in our
conversion to a new, state-of theart electronic platform,
giving members a host of new
tools for handling their BFCU
business online. Our new service
partner Digital Insight, a division
of the Intuit Corporation
(producer of Quicken and QuickBooks financial software), is one
of the most respected providers in
the financial services world and
internationally recognized for its advanced technology and security.
With this conversion, members will enjoy many new features in our
Home Banking service, including:
• Enhanced Bill Pay features including more electronic payments and a pop-up
calendar for reminders
• Secure e-mail messages to and from the Credit Union
• Budget and money management tools including the ability to view and
aggregate all of your financial information (regardless of the provider) on our
Home Banking system
• AND COMING SOON:
E-STATEMENTS AND REMOTE DEPOSIT CAPABILITY
As your full-service banking institution, we are always excited to bring you the
additional and improved services you need to make your life easier. We hope you
enjoy these new technology upgrades, and as always, we look forward to doing
everything we can to serve you and your family.
If you need assistance with these new tools, or would like to sign up to take
advantage of these tools, please do not hesitate to contact our member service
department and a representative will walk you through the steps.
PRESIDENT’S MESSAGE
I am writing this shortly after the eighth anniversary of
September 11, 2001 and one year after the collapse of one
of the Wall Street giants which triggered one of the worst
financial markets in history. Both of these anniversaries are
significant, both of these historical events can and should
provide us with valuable lessons and yet both are at risk of
being pushed to the back pages of both our newspapers and
our minds.
9.00%
APR*
1 YearTerm
The terrorist attacks against our country and our fellow citizens were immediately followed by an atmosphere of cooperation, an atmosphere of brotherhood and comradery and a
sense of national pride that had somehow slipped away from
us as World War II became a distant memory. Immediately
after 9-11, we as a nation embraced and mourned for and
with the many victims. We reached out to support those
who offered their lives in rescue and recovery operations.
We vowed to never forget and we vowed to do whatever was
necessary to insure that this would never occur again.
The collapse of Lehman Brothers last April marked the
beginning of a terrible six month period in the investment
markets. The collapse of stock and real estate values, details
of job losses and stories of greed, stupidity and arrogance
dominated our news stories. Very few of us have escaped
this economic tsunami without some pain or loss. We were
angry, we felt betrayed, we wanted answers and we wanted
to ensure that this never occurred again.
This year, I began to feel that the memory of the terrorist
attacks has begun to fade. Our elected officials, our school
officials, our media and many of our citizens have allowed
that day to slip away from their memories. The financial
problems are too new and much of the aftermath is still happening as we speak. Yet, as the stock market soars, as housing prices stabilize and as the recession begins to come to an
end, I feel that the memories of what caused this meltdown
may also fade.
The common theme here is how soon we, as a nation, forget
and how seldom we use these experiences as a map to guide
us in the future. Certainly as firefighters and families of
firefighters, you will never forget your brothers from FDNY.
You will never allow their lives or their heroic deaths to go
unnoticed. This is your culture and you live and work in
honor of those who came before you.
I would like to suggest that you also remember the cause of
the financial meltdown. Subprime mortgages and their aftermath have affected many of our members and their families.
I can assure you that this has not and will not happen at
BFCU. The loyalty that our members have for their credit
union is returned daily in our actions. As you remember the
cause of the financial meltdown and the Wall St. greed at the
bottom of it, remember also the financial success stories of
those who have continued to work with us while we work
with them.
John B. Winne
President and CEO
BFCU
HOLIDAY
LOAN –
BORROW
UP TO
$3,000
Beat the high cost of
credit card finance
charges with this great
low rate! Available
only through
December 31, 2009,
so hurry and apply!
*APR = Annual Percentage Rate. Payments are approximately $20.14
per week per $1,000 borrowed. Rate reflects .50% discount for automatic payments. No pre-payment penalties.
GET BETTER RATES
AND LOWER FEES
WHEN YOU
SHARE THE
BENEFITS OF BFCU
MEMBERSHIP EXPANSION
APPROVED –
TELL YOUR FRIENDS
AND COLLEAGUES!
With growth comes a greater
economy of scale, which at BFCU
always means more benefits
for you – our members!
The expansion of our membership
to serve the PPFM, which was overwhelmingly
approved by the membership this June, has now
received approval from the Massachusetts Division of
Banks. As a result, we are now accepting membership
applications from firefighters from our surrounding
communities. When you bring your friends and
colleagues from these stations to BFCU, our ensuing
growth ensures that we will continue to be there for
you with low fees, better-than-bank interest rates, and
the personal support we’ve always shown for our valued
members. At BFCU, we’ve always been in it for our
members – and that will never change. Refer a
colleague today!
BOSTON FIREFIGHTERS CREDIT UNION
FALLING AUTO
LOAN RATES!
Rates as low as
3.99%
APR*
Finance with BFCU and take advantage
of all dealer rebates and incentives.
*APR = Annual Percentage Rate. Rates may vary based on individual credit
score. Payments are approximately $4.25 per week per $1,000 borrowed.
Rates reflect .50% discount for automatic payments. No pre-payment
penalties.
ATM FEES GOT YOU
MAD IN THIS TIGHT
ECONOMY?
HERE ARE SOME HELPFUL TIPS!
ATM fees can be a drain on your wallet. Though often
individually small, they can add up quickly and end up
costing you hundreds of dollars a year. Here are some tips
to help reduce or avoid these fees:
1 Take advantage of BFCU’s Debit Card. We don’t charge
any fees for ATM transactions or debit card usage anytime,
anywhere.
HOME FINANCING
CORNER
FIRST TIME HOME BUYERS
$8,000 TAX CREDIT
EXPIRES NOVEMBER 30, 2009.
Don’t let this big-money opportunity slip by!
If you are looking to purchase your first home, your time
is quickly running out to take advantage of the large
federal tax credit for first-time homebuyers. Eligible recipients must close on their home on or prior to 11/30/09
in order to claim the credit on their 2009 tax return.
2 Most banks charge a fee when you use their ATMs. A
great way to avoid these fees is to use ATMs that are within
the SUM network or MonyePass network. To find an ATM
near you that belongs to one of these networks you can visit
our website homepage and click on the corresponding logos
at the bottom of the page. Simply plug in your zip code
where they ask you to and you will receive a list of
participating ATM machines.
HOME BUYING AND FINANCING
QUESTIONS?
3 If you can’t find a convenient ATM in your area and are
forced to use an ATM that charges a fee, try to
calculate how much money you will need each week and
plan to make one ATM stop instead of several.
If you or a family member are a prospective home owner
and are interested in learning about the home buying
process, please call Kristen at the Credit Union for an
appointment and we will walk you through all the ins
and outs and make the home buying experience as easy
and stress free as possible.
4 Take advantage of the cash back feature at point of sale
registers when you use your PIN for a purchase.
Call for a personal consultation today!
Our seasoned home buying and financing specialists not
only understand all the financial products available on
the market today, but they understand the home buying
process, too.
ATTENTION SNOWBIRDS:
PLEASE CONTACT US
BEFORE YOU
FLY THE COOP.
Before you take off to your winter residence, please notify the Credit
Union of your temporary address so that we can send statements and
other important Credit Union materials to you in a timely manner.
BOSTON FIREFIGHTERS CREDIT UNION
2009
CHRISTMAS
CLUB
ACCOUNT
FUNDS NOW
AVAILABLE
BOSTON
FIREFIGHTERS
CREDIT
UNION
As of October 2, 2009, all
Christmas Club Account funds
have been deposited into member share accounts. Enjoy your holiday spending with the
security of knowing you have the funds to meet your needs.
BOARD OF
DIRECTORS
William G. Dewan, E-10, Gr. 4
Chairman of the Board
Thomas W. Matthews, HQ - Retired
Vice Chairman
Edmund M. Street, L-18, Gr. 2
Treasurer
Joseph Nee, Maint. - Retired
Clerk
Larry Brennan, E-14, Gr. 3
Charles M. Buchanan, Jr., E-24, Gr. 1
Sean P. Costello R-2, Gr. 2
Ralph Dowling, FAO, Gr. 2
Joseph Finn, D-1, Gr. 2
Robert Ford, Fire Academy
Richard T. Kelleher, FAO - Retired
Tom McCann, E-39, Gr.4
John J. McKenna, R-2, Gr. 3
Edward Paris, Jr., E-18, Gr. 1
George Patukonis, T&R
MEMBER SERVICES
• Shared Branching
• Share Savings
• NOW/Checking
• Home Banking
• Bill Pay
• Money Market Account
• IRA Accounts
• Direct Deposit
• Pre-Authorized Payments
• Christmas Club
• Student Package Account
• Payroll Deductions
• Personal Loans
• Automobile Loans
(New and Used)
• Motorcycle and Boat Loans
• Home Equity Line of Credit
• Home Improvement Loans
• Mortgage Loans
• Share Secured Loans
• Certificates of Deposit
• VISA® Credit Cards
• MasterMoney™ Check Cards
• 24-Hour Hot Line
• Notary Service
Don’t have a Christmas Club Account? For just a few dollars a week, you can put aside
enough money to take care of all of your holiday bills, without paying any finance
charges or exorbitant interest rates. With next year just around the corner, set up your
account today!
HOLIDAY CLOSINGS
Columbus Day
Monday, October 12th
Veteran’s Day
Wednesday, November 11th
Thanksgiving Day
Thursday, November 26th
Christmas Day
Friday, December 25th
New Year’s Day
Friday, January 1st
*
CONSUMER LOAN INTEREST RATES
LOAN TYPE
Auto (New or Used)
Personal
Line of Credit
Home Improvement
Tuition
Boat (New or Used)
APR
3.99% - 9.99%
7.99% - 13.99%
10.99%
7.49-8.99%
6.99%
7.99%
*APR = Annual Percentage
Rate. Rates reflect a .50%
discount for automatic
payments. Rate may vary
based on terms and
individual credit scores.
HOURS OF OPERATION:
Monday, Tuesday, Wednesday and Friday 8:30 a.m. - 3:30 p.m.
Thursday 8:30 a.m. – 7:00 p.m.
Saturdays 8:30 a.m. – 12:30 p.m.
Phone: (617) 288-2420
1st Floor Fax: (857) 220-2158 2nd Floor Fax: (617) 288-8750
The Hot Line (617) 288-BFCU (2328)
Out-Of-Area (877) 288-BFCU (2328)
Visit our Website at www.bosfirecu.com
To report lost VISA card 1-800-449-7720
To report lost MasterMoney Check Card
1-800-264-5578
EQUAL HOUSING
LENDER