Spring, 2017
April is National Credit Union
Youth Month
& CASH
HOME SWEET HOME EQUITY
A PCU Scottie Savers Account is the perfect way to teach
your kids about money. Scottie Savers earn fun prizes for
saving and making deposits at the credit union.
Stop by to open a Scottie Saver Youth Account, help us
celebrate Credit Union Youth Month, and put your child on
the path to making smart financial choices!
Priorities
welcome to
PENNY
Pay off debt or make home improvements
and enjoy one easy low payment!
Stop by to meet Cash,
Penny’s new friend!
EBT
0,0 0 0 IN D
PAY OFF $1$181.98 Per Month
AS LOW AS
Bill Pay Conversion & Upgrade
PAY OFF $15,000 IN DEBT
AS LOW AS $272.96 Per Month
Exciting new bill pay changes in May!
A fresh clean design with new features to more efficiently
and automatically pay your bills. Continue to use bill pay on
your desktop or via PCU Mobile! All of your existing payees and scheduled
payments will be retained and processed.
PAY OFF $20,000 IN DEBT
AS LOW AS $363.94 Per Month
Kindly note: Bill Pay will be offline May 22 at 11 a.m. to May 24 at 11 a.m.
More exciting information will be available at www.pcfcu.org.
Rates as low as
Security Enhancement Notice
At Peninsula Credit Union, our goal is to provide the very best in account security. That’s
why we recently began the process of migrating away from using your “Member Account
Number” as your “User ID” in Online banking enabling each member to create a
customized User ID. This is being done in an effort to combat recent trends in identify theft
and cyber crime.
Effective June 30th, 2017, the use of account numbers as User IDs for Online Banking will
be discontinued. If you have an account number that is being utilized as your User ID in
Online Banking, please update your User ID through “Your Preferences” in Online
Banking. If you have any questions or would like any assistance, please feel free to contact
Member Services at 1-800-426-1601.
Branch Locations & Hours
Get on the path
to save more!
3.49
*APR=Annual Percentage Rate. Actual rates may vary based upon one or more of the following: credit rating, value of
collateral, LTV and term. The final APR will be based on the final loan amount and applicable finance charge paid by
the member including appraisal, flood determination fee and closing costs. Monthly payment examples based on
$10,000, $15,000, and $20,000 loan amounts at lowest 3.49% APR over 5-year term. Maximum LTV is 100%. Must
be 1-4 family, owner occupied residential property.Minimum loan amount is $5,000, maximum is $100,000. Maximum term
5 years. Membership required. Offer available March 18, 2017 – May 31, 2017. Current home equity loans not eligible for
this promotion. Rates subject to change at any time. Minimum qualifying credit score is required.
PORT ORCHARD
POULSBO
HOLIDAY SCHEDULE
521 W. Railroad Ave.
Shelton, WA 98584
360-426-1601
N.E. 23550 Highway 3
Belfair, WA 98528
360-275-6066
1081 Bethel Road
Port Orchard, WA 98366
360-876-8898
21505 Market Pl. NW, Ste. 109
Poulsbo, WA 98370
360-697-3011
Memorial Day
Monday, May 29
Monday - Thursday
Drive-up ....8:30 - 5:30
Lobby ........9:00 - 5:30
Monday - Thursday
Drive-up ....9:00 - 5:30
Lobby .........9:00 - 5:00
Monday - Thursday
Drive-up ....9:00 - 5:30
Lobby .........9:00 - 5:30
Monday - Friday
Lobby .........10:00 - 5:00
Friday
Drive-up ...8:30 - 6:00
Lobby .........9:00 - 5:30
Friday
Drive-up ....9:00 - 6:00
Lobby .........9:00 - 5:30
Drive-up ATM
Friday
Drive-up ....9:00 - 6:00
Lobby .........9:00 - 5:30
CALL CENTER
Monday - Friday
8:30 - 5:30
Your savings federally insured to at least $250,000
and backed by the full faith and credit of the United States Government
NCUA
National
Credit Union Administration, a U.S. Government Agency
Jim Morrell, President / CEO
Thank you for your membership in Peninsula Credit
Union. By belonging to a local, member-owned
credit union, you are part of a cooperative
movement that delivers substantial benefit to
families and businesses, while making a huge
impact on our local and regional economy.
Union Impacts report documents the economic impact of
Northwest credit unions.
Recently, the Northwest Credit Union Association
commissioned economists at ECONorthwest to
perform an independent analysis. The 2016 Credit
You are one of 5.5 million people in Washington and Oregon
entrusting their finances to not-for-profit, member-driven
credit unions. As cooperatives, credit unions do not have
stockholders, and instead exist to serve you, the member.
ECONorthwest studied data from nearly 150 Northwest credit
unions, and found that they generated $7.7 billion in
economic impact across Washington and Oregon in 2016.
Inside
BELFAIR
Walk-up ATM
APR*
APPLY ONLINE AT pcfcu.org
SHELTON
Walk-up ATM
Drive-up ATM
%
President’s Message
Independence Day
Tuesday July 4
Walk-up ATM
Monday - Friday
Lobby .........9:00 - 5:30
Walk-up ATM
PCU Perks Grand Prize Winner
Plant Your Summer Plans
Get the Smilemaker
Security Enhancement Notice
facebook.com/PeninsulaCreditUnion
Wealth News
@PeninsulaCU1935
CU Youth Month
This credit union is federally insured by the National Credit Union Administration.
We do business in accordance with the Federal Fair Lending Law and the Equal Credit Opportunity Act.
Northwest credit unions delivered $528
million in direct benefits to their members.
First Time Auto Loans
Help us Wish Margie Well
PORT TOWNSEND
1250 W. Sims Way
Port Townsend, WA 98368
360-385-5575
Debit Card Alerts
In 2016 alone, Northwest credit unions delivered $528 million
in direct benefits to their members. And as members
reinvested this money in their families and communities, it
generated a buying power impact of $574 million.
Peninsula Credit Union’s members each receive an annual
direct benefit of $103. As all sales and other operating income
for the credit union takes place, (including supply-chain
Toll Free 1.800.426.1601
purchases and compensation of employees), there is an
overall total economic impact of $20 million generated
by Peninsula Credit Union.
What does this all mean? The impact of benefits deliver
to members ripples out into local communities. Along
with direct financial benefits for members such as
dividends, lower interest rates on loans, and higher
interest rates on savings, credit unions drive economic
growth, with every family-wage credit union job
creating two more.
This enormous impact does not even include the
additional economic impact created by lending
activities. The current snapshot of Northwest credit
union lending, shows that 3.4 million credit union
loans, totaling $52 billion, are helping to strengthen
individuals, families, and small businesses.
Providing affordable credit to our members is important.
Auto lending provides transportation to jobs and family
events, and supports other jobs in the auto industry.
Home loans help families provide stable housing in our
communities.
Thank you for being part of Peninsula Credit Union. Not
only do you and your family benefit, but you help to
strengthen the families, communities, and the
economic foundation of our beautiful region.
www.pcfcu.org
n
Peninsula Credit Unio
Congratulations, Kate Storey,
our PCU Perks Grand Prize Winner
n
Peninsula Credit Unio
tion
alert: A Pre-Authoriza
e at 11:32 at
mad
was
.44
$102
of
account
your
on
ABC Company
threshold.
which exceeds your
Kate joined PCU Perks and won our
$1,000 Visa Gift Card Give-away.
Smile more with our Peninsula Credit Union
Signature Rewards or Platinum Visa® Credit Card.
n
Peninsula Credit Unio
$74.81 was
alert: A Purchase of
Store on
made at 18:29 at 123
exceeds
your account which
your threshold.
Are you getting free popcorn with your movie ticket?
How about buy one get one free rootbeer floats or
barbeque sandwiches? And what about $4 off a
large pizza? Those are just some of the great deals
you get with PCU Perks! Our free online and
computer app is a free value discount program to all
INTRODUCTORY RATE
Easily Detect Fraud
members who have a personal checking account with us. If you haven’t enrolled yet then
you aren’t enjoying the Perks of saving money! Contact a Member Services Representative
today and start getting your PCU Perks right away. 360.426.1601
Debit Card Alerts
Receive a text message or email when your card is
used. Set custom alerts for transactions types and
dollar amounts for:
Please join us in extending best wishes to Margie Kaiser,
Belfair Branch Manager, who is retiring at the end of
April. Margie has been a devoted member of our PCFCU
staff for 17 years, and she will be greatly missed by Credit
Union members and fellow staff. Margie was recently
recognized by the North Mason Chamber of Commerce
for her service and dedication to our community.
• Purchases over a selected amount
• International purchases
• Online and phone purchases where your
card is not physically present
• Declined transactions
You may change your alert preferences at any time.
We invite you to attend an Open House Reception in her
honor on Wednesday, April 26, from 10:00 a.m. to 4:00
p.m. at the Belfair Branch Office. Cake and refreshments
will be served. We hope you will be able to join us as we
express our appreciation to Margie and wish her a
wonderful retirement.
Help detect fraud and keep your account secure.
Manage your alerts at:
pcudebitalerts.org
the freedom of a
FIRST TIME AUTO LOAN
Are you ready to purchase your first ride?
Introducing a new program designed for those
who have little to no credit history.
Some restrictions and requirements apply including 12 months proof of income and proof of vehicle insurance.
Maximum amount borrowed: $17,500 up to 60 months.
Auto Loans
Home Loans
Land Loans
Checking Accounts
Enjoy low rates, an affordable payment and
an easy way to establish a credit history.
%
APR*
ON ALL PURCHASES AND BALANCE
TRANSFERS FOR SIX MONTHS
7.50% - 18.00% NON INTRO RATE
Another perk for your peace of mind.
Have you signed up for Free Debit Card Alerts?
Help Us Wish Margie All the Best!
1.0
E
GET TH
KER
A
M
E
L
I
M
S
No Annual Fee • No Balance Transfer Fees • Optional Rewards
*APR = Annual Percentage Rate Signature Rewards & Priority Platinum VISA Programs 1.00% introductory APR for 6 months from date of approval. After that, APR will be 7.50%-18.00% based on credit worthiness. This
APR will vary with the market based on Prime Rate. Rates and terms are subject to change without notice. Offer ends May 31, 2017.
Wealth Management
Being self-employed has many advantages - the opportunity to be your own boss
and come and go as you please, for
example. However, it also comes with
unique challenges, especially when it
comes to how to handle taxes. Whether
you’re running your own business or
thinking about starting one, you’ll want to
be aware of the specific tax rules and
opportunities that apply to you.
statutory employee, the net income listed
on your Schedule C is self-employment
income and must be included on Schedule
SE, which is filed with your Form 1040.
Schedule SE is used both to calculate
self-employment tax and to report the
amount of tax-owed.
Make estimated tax payments on time
When you’re self-employed, you’ll need to
make quarterly tax payments (using IRS
Understand the self-employment tax.
Form 1040-ES) to cover your federal tax
When you worked for an employer, payroll liability. Estimated tax payments are
taxes to fund Social Security and Medicare generally due each year on the 15th of
were split between you and your employer. April, June, September and January. If
Now you must pay a self-employment tax
you fail to make estimated payments on
equal to the combined amount that an
time, you may be subject to penalties,
employee and employer would pay.
interest, and a large tax bill at the end of
the year.
The self-employment tax rate on net
earnings (up to $127,200 in 2017) is
Invest in a retirement plan
15.3% with 12.4% going toward Social
If you are self-employed, it is up to you to
Security and 2.9% allotted to Medicare.
save sufficient funds for retirement.
Any amount over the earnings threshold is Investing in a retirement plan can help you
generally subject only to the Medicare
save for retirement and also provide
payroll tax. However, self-employment
numerous tax benefits.
and wage income above $200,000 is
generally subject to a 0.9% additional
Take advantage of business deductions
Medicare tax.
If you have your own business you can
deduct some of the costs of starting the
If you file Form 1040, Schedule C, as a
business, as well as the current operating
sole proprietor, independent contractor or
costs of running that business. Since
business deductions will lower your taxable
income, you should take advantage of any
deductions which you are entitled.
Deduct health-care expenses
If you qualify, you may be able to benefit
from the self-employed health insurance
deduction which would enable you to deduct
up to 100% of the cost of health insurance
that you provide yourself, your spouse, your
dependents, and employees.
Bryan Pettit
Financial Advisor
CUSO Financial Services, L.P.
360.426.1601 ext. 3168
Cell: 360.490.8325
[email protected]
*All investing involves risk, including the possible loss of principal, and there can be no assurance that any investment strategy will be successful. Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2015. Non-deposit investment
products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured,
are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Peninsula Credit Union has contracted with CFS to make non-deposit investment
products and services available to credit union members.
Online Banking
Telephone Banking
24 Hour ATMs
Toll Free 1.800.426.1601
Toll Free 1.800.426.1601
www.pcfcu.org
www.pcfcu.org
Our Priority is You