www.cfcuonline.com
Banking Made Better
WE TRUST
I N G OD
Construction Federal Credit Union
J U LY | 2 0 1 5
For more than 40 years, we have
been helping individuals and
companies that build America.
We still believe in our Country’s
greatness and we also believe in
our members.
Join us and experience banking
made better, service the way it used
to be.
Helping people live better lives is
what we do, every day.
n
Personal & Business Checking
& Savings Accounts
n Direct Deposit
n ATM Access 24/7
n Auto, Home, Boat Loans
nVISA
nIRAs
n Money Market Accounts
n Certificates of Deposit
n Home Equity Lines of Credit
n Online Home Banking
Access 24/7
Building Together
Dear Valued Members,
Happy Independence Day. I hope that this note finds you well. We are indeed fortunate, despite the many issues in our country and
around the world, to call ourselves Americans.
Your credit union remains 5 Stars – Superior and also an Exemplary performance credit union. If you have not had a chance, please
read the Media Release on the reverse side of this newsletter. Serving you is our privilege and providing you with banking peace of
mind is our goal.
Our conversion to EMV Cards is underway. This exciting technology will encrypt each of your
transactions differently through an embedded microchip, making it far more difficult for a criminal
mind to hack your card. Please remember though, that your account security is compromised
anytime you allow your card to leave your possession, even for a moment.
I want to make mention of the retirement of Raymond R. Comiskey from the Board of Directors,
after having served the credit union for many years. Ray was always a voice of common sense and
decency and his years have made a positive difference. Thank you, Ray.
At the same time, we proudly welcome Don Purdie, Jr., a familiar face to many in the construction
industry. Don is a down to earth, humble and get it done person. We look forward to his influence;
welcome, Don.
While we celebrate Independence Day on July 4th, the process of declaring our independence from
Great Britain truly began with the Battles at Lexington and Concord on April 19, 1775. It took well
over a year for our intentions to become formalized, but once formalized, it put in motion a force on
earth that would change life forever. Freedom.
The actual drafting of our freedom began on June 11th, 1776. A Committee of Five was appointed to draft a statement presenting
to the world the case for our independence. Members of the Committee included John Adams of Massachusetts, Roger Sherman of
Connecticut, Benjamin Franklin of Pennsylvania, Robert R. Livingston of New York and Thomas Jefferson of Virginia. The task of
drafting the actual document fell on Jefferson.
On July 1, 1776, the Continental Congress reconvened and on the following day, July 2, 1776, the Lee Resolution for independence
was adopted by 12 of the 13 colonies, New York not voting.
It was first publicly read on July 4, 1776 and not acknowledged by King George III, until October 31, 1776.
The Revolutionary War went on until September 3, 1783, costing 4,435 American lives and wounding 6,188 Patriots, when our total
population was a mere 2.5 Million. HOURS
Main Office: Monday - Friday 9-5pm
Branch Offices: Weekdays 9-7pm
Saturday 9-2pm
How lucky are we to be the heirs of brave men that made such a declaration…
“We hold these truths to be self-evident that all men are created equal, that they are endowed by their
Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.”
24-hour ATM service available at
all locations.
“And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we
mutually pledge to each other our Lives, our Fortunes, and our sacred Honor.”
Our job as citizens is to protect this precious freedom, to value it and appreciate it at all times. When people forget what they have,
as a general rule, they lose it.
I am so proud to serve you, thank you for making us one of the Strongest Credit Unions in America! Think good thoughts, be positive and never give up. Never. Thanks for your loyalty.
Respectfully,
Jim
James M. Finn
President & Chief Executive Officer
[email protected]
Main Office: Bingham Office Park • 30400 Telegraph Road, Suite 122 • Bingham Farms, MI 48025 | Main Number: (248) 358-4140 • Fax: (248) 358-2452
5-Star
Standards
Bauer Financial, an independent national bank and credit union rating service, has
once again given CFCU a 5-Star Superior Rating. This exceptional rating indicates the
continued strength and stability of Construction Federal Credit Union.
RATES
BANKING MADE BETTER
Savings & Certificate Programs
MINIMUM INVESTMENT
$2,500
Savings Account
$2,500
Checking Account
Share Certificates
1 month
2 month
3 month
3 month
6 month
6 month
12 month
12 month
12 month Jumbo
18 month
18 month
24 month
24 month
30 month
30 month
36 month
36 month
$10,000
$10,000
less than $10,000
greater than $10,000
less than $10,000
greater than $10,000
less than $10,000
greater than $10,000
greater than $100,000
less than $10,000
greater than $10,000
less than $10,000
greater than $10,000
less than $10,000
greater than $10,000
less than $10,000
greater than $10,000
greater than
greater than
APY*
0.10%
0.10%
0.04%
0.11%
0.15%
0.17%
0.21%
0.23%
0.31%
0.43%
0.83%
0.60%
0.67%
0.70%
0.73%
0.71%
0.75%
0.74%
0.77%
All accounts must maintain a $2,500 balance to receive a
monthly dividend. Accessed fees could affect annual yield.
Up to 90 day penalty for early withdrawal on certificate of
deposit accounts.
greater than $100,000
Advantages to Credit Union IRAs
IRAs Jumbo
0.87%
• Insured up to $250,000.00 by full faith and credit of
US Government
• No Loading Fees
• No annual fees for maintaining the account
• No hidden penalties for early withdrawal (other than
those by IRS)
• Deposits can be made through the convenience of
payroll deduction
• Earnings paid and compounded quarterly
Loans
APR**
Loan Secured by Shares
Up to 60 months
Vehicles 2012-2015
Up to 36 months
Up to 60 months
Up to 72 months
Vehicles 2007-2011
Up to 60 months
Vehicles 2004-2006
Up to 60 months
5.00%
1.99%
2.99%
3.99%
4.60%
5.00%
Vehicles 2003 & below
Up to 48 months
5.875%
Line of Credit
5.00-11.00%
Home Improvement
Up to 120 months
5.875%
30 Year Fixed - First Mortgage 4.325%
15 Year Fixed - First Mortgage 3.95%
5 Year Fixed Balloon - First Mortgage 3.625%
Amortized over 30 years
HELOC (Program Suspended)
PRIME RATE as published in the Wall
Street Journal, PLUS 1.00% MIN APR is
5.00%; MAX APR is 12.00%
New Boats 2012-2015
Up to 120 months
Boats 2011 & older
Up to 120 months
Recreational Vehicles
VISA Platinum Preferred
4.99%
5.50%
5.00-8.00%
6.87%
Rates are subject to change to meet market conditions.
Please contact the Credit Union for updates.
* APY = Annual Percentage Yield.
**APR = Annual Percentage Rate.
Media Release
FOR IMMEDIATE RELEASE:
To the Editor:
TEL:
1.800.388.6686
FAX:
1.800.230.9569
www.bauerfinancial.com
[email protected]
5-Star Construction Federal Credit Union
A Relationship You Can Depend On
May 2015: BAUERFINANCIAL, Inc., Coral Gables, FL is pleased to announce that Construction
Federal Credit Union, Bingham Farms, Michigan has once again earned its coveted 5-Star
Superior rating. BauerFinancial, the nation’s premier bank and credit union rating firm, has
been evaluating and rating financial institutions since 1983. A 5-Star Superior rating indicates
that Construction Federal Credit Union is one of the strongest credit unions in the nation,
excelling in areas of capital, loan quality, profitability and more.
Construction Federal Credit Union has earned Bauer’s 5-Star Superior rating, an indication of
strength and security, for the most recent 73 consecutive quarters. That has earned
Construction Federal Credit Union the added title of “Exceptional Performance Credit Union”.
This designation is reserved for institutions that have maintained the 5-Star rating for at least
ten straight years (40 consecutive quarters).
Karen L. Dorway, president of BauerFinancial notes that, “for the first time, we see even the Big
Banks acknowledging the value in relationship banking. That’s something credit unions, like
Construction Federal Credit Union, have always known. In fact”, she continues, “because of
their inherent focus on relationships, credit unions are uniquely positioned to serve their
membership in ways no one else can. Those relationships pay off for both Construction
Federal Credit Union and the members it serves.”
Established in 1974, today, under the direction of James M. Finn, President and CEO,
Construction Federal Credit Union (www.cfcuonline.com) is still helping individuals and
companies that build America. In addition to its main office on Telegraph Road, Construction
Federal Credit Union operates through several conveniently located branch offices – helping
people live better lives.
Construction Federal Credit Union: “Banking Made Better.”
Member of the NCUA and an Equal Housing Lender.
BAUERFINANCIAL, Inc., Coral Gables, Florida, the nation’s leading independent bank and credit
union rating and research firm, has been reporting on and analyzing the performance of U.S.
banks and credit unions since 1983. No institution can pay for or opt out of a BauerFinancial
rating. Consumers may obtain free star-ratings by visiting www.bauerfinancial.com.
###
BAUERFINANCIAL, INC. P.O. Box 143520, Coral Gables, FL 33114.
Closings
IND E PE ND E NCE D A Y
Friday, July 3, 2015
LA BOR D A Y
Monday, September 7, 2015
Federally insured by NCUA.
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