The Messenger | Winter 2009

MORTON R. LANE STATE UNIVERSITY FEDERAL CREDIT UNION

Issue #83

The Credit Union Newsletter

What’s in this issue…            

Credit Union Loans 24/7 Account Access Win, Win, Win Contest & Winners Correct Contact Info Shopper’s Lane Membership Referral Program Holiday Closings NCUA Regal Cinema DiscountedTickets Loan Rates Dividend News Office Hours

Need A Loan? Let the Credit Union Finance It ! 8.25% for Purchases, Cash Advances & Balance Transfers New Auto – 5.90%*

Used Auto – 6.90%*

100% of Purchase Price Plus Sales Tax Up to 72 Months

100% of Purchase Price Plus Sales Tax Up to 60 Months

Personal – 9.00%*

Recreational Vehicle 7.50%*

Borrow up to $20,000

6.50% Fixed-Rate Home Equity Get the money you need. Pay off your debts. Finance home improvements. One low monthly payment. One low interest rate. Up to 20 years to repay. Minimum Amount - $20,000 Maximum Amount - $65,000 An application fee of $50 is required when you apply. This will be refunded upon approval and closing. The Credit Union will pay for all closing costs. Certain restrictions apply.

Winter 2009

*APR 1% higher if not repaid through payroll deduction. Log on to www.mortonlanedirect.com to download and submit an application, or stop in any one of our offices.

Access your Credit Union account 24/7! Log on to www.mortonlanedirect.com and click on the home banking link.      

View account balances View transaction history View cleared check listing Transfer funds Make withdrawals Secure 128-bit encryption

Home banking services are free to members. All transactions performed through home banking will be posted the next business day and listed on your monthly statement.

Does the Credit Union have your Correct Contact Information? Enter to win a $20 Deposit to your Savings account. Here’s how to win! Answer the following questions and return the questionnaire to one of our offices or log on to our website at www.mortonlanedirect.com and navigate to the forms section.

3 winners will be randomly selected out of all entries which contain all 4 correct answers. Not sure of an answer, don’t worry. Read our newsletter carefully. All answers are somewhere in this newsletter. The winners will be selected on March 2, 2009.

Here are the questions:

1. Name two types of loans that may be financed by the credit union. 2.

What is the website address to access your account?

Did you move, get a new phone number, change your name or will be in the near future? Did you submit your new information to the credit union? It is imperative that you do so for many reasons.  Get your statement on time. Failure to submit your new address, will delay your statement.  Transactions conducted by your Visa credit or debit card may be denied if the credit union does not have your correct name, address and phone number. As a measure of protecting their customers, many institutions compare names, addresses and phone numbers to avoid fraudulent activity on your account. If you need to notify the credit union of a change in your contact information, complete the form below and return it to the credit union as soon as possible. CONTACT INFORMATION CHANGE

3. If you have a change in your name, address or phone number what should you do ASAP?

Account#:

4.

Effective Date: _______________________

Your individual savings are federally insured up to what amount by NCUA?

NAME ______________________________________ ACCT# __________ DAY PHONE ______________ ADDRESS ___________________________________ CITY ______________STATE ______ ZIP _______ EMAIL: _____________________________________ Only one entry per member. Deadline to submit your entry is Friday, February 27, 2009.

Congratulations!!!

A list of winners will be printed in our nextSpring newsletter. Congratulations to the 3 lucky winners of our newsletter WIN WIN WIN contest. May Cadenhead, Margaret Hatfield, and Andy Perreault each won a $20 deposit into their savings account.

__________________________

Old Information (REQUIRED) Name__________________________________ Address________________________________ City_______________ State _______ Zip_____ Old Phone #_____________________________ ________________________________________ Member’s Old Signature New Information (Please fill in all that applies) Name__________________________________ Address________________________________ City_______________ State _______ Zip_____ Home Phone #___________________________ Work Phone #____________________________ Cell Phone # _____________________________ Please Check All That Applies:  I have a Visa Credit Card  I have a Visa Debit Card  I have an ATM Card. ______________________________________ Member’s New Signature

Place your ad here! Call the Credit Union for details at 837-2007. Share the Wealth Membership Referral Program If you refer someone to join our credit union (they must be an immediate family member, coworker or anyone who is within our field of membership), and if the new member meets one of the criteria listed below, both you and the new member will receive $10.00 in your primary share accounts. It’s a win-win situation for both you and the credit union.      

Enroll for payroll deduction Enroll for direct deposit Apply & Approved for our Visa Credit Card Open a Visa DEBIT card. Apply & Approved for a Visa CREDIT card. Deposit $500 or more in a savings or checking account.

Funds are deposited the following quarter.

Happy Holidays! The Credit Union will be Closed on the Following Holidays! Thursday, January 1, 2009 – New Year’s Day Monday, January 19, 2009 – King’s Birthday Monday, February 16, 2009 – President’s Day Monday, May 25, 2009 – Memorial Day Friday, July 3, 2009 – Independence Day Monday, September 7, 2009 – Labor Day Monday, October 12, 2009 – Columbus Day Tuesday, November 3, 2009 – Election Day Wednesday, November 11, 2009 – Veterans Day Thursday, November 26, 2009 – Thanksgiving Day Friday, December 25, 2009 – Christmas Day Friday, January 1, 2010 – New Year’s Day

The National Credit Union Share Insurance Fund (NCUIF), an arm of NCUA, insures the shares in your credit union. This share insurance is similar to the deposit insurance protection offered by the Federal Deposit Insurance Corporation (FDIC). This insurance covers Savings (Share), Checking (Draft), Club and IRAs. The National Credit Union Administration (NCUA) is the federal agency that charters and supervises federal credit unions and insures savings in federal and most state chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government.

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

Not one penny of insured savings has ever been lost by a member of a federally insured credit union. For individual accounts, the maximum insurance is $250,000 per person in one credit union. Joint account ownership entitles that same person to have additional insurance up to a maximum of another $250,000. If you have questions, feel free to call us during business hours. On the web, you can visit www. ncua.gov for more information about the NCUA Share Insurance Fund and you can use the Estimator that appears there to calculate your insurance coverage. You may also call the NCUA Insurance Call Center at (800) 755-1030.

VIP SUPER SAVER MOVIE TICKETS

$6.00 All Ages No Expiration Date

Perfect Gift for Every Occasion! Available at the Englewood Avenue Office.

LOAN RATES

Annual Percentage Rate with Payroll Deduction ** Rate Formula

Rate as of 12/17/08

Prime* Plus 0.00%

3.25%

VARIABLE SHARE SECURED LOAN

Prime* Minus 0.50%

2.75%

NEW AUTOMOBILE (Up to 72 Months) 100% of Purchase Price Plus Sales Tax

5.90%

5.90%

USED AUTOMOBILE (Up to 60 Months) 100% of Purchase Price Plus Sales Tax OR NADA Retail Value Plus Sales Tax

6.90%

6.90%

RECREATIONAL VEHICLE

7.50%

6.50%

NEW MOTORCYCLE

7.25%

7.25%

USED/REFINANCED MOTORCYCLE

7.75%

7.75%

PERSONAL LOAN (Up to $20,000)

9.00%

9.00%

Prime* Minus 0.50% Adjusted Quarterly

6.00%

FIXED-RATE HOME EQUITY LOAN

6.50%

6.50%

VISA CREDIT CARD

8.25%

8.25%

Prime* Plus 2.50%

7.50%

FIXED SHARE SECURED LOAN

388 Englewood Avenue Buffalo, New York 14223 (716) 837-2007 (Please direct all inquiries to this office.) Mon, Tues, Wed, & Fri Thurs

8:00 a.m. - 5:00 p.m. 8:00 a.m. - 6:30 p.m.

BUFFALO STATE COLLEGE

HOME EQUITY LOAN (Variable Rate) Prime* Minus 1.50% for first 6 Months

HEADQUARTERS

Floor 6%/Ceiling 14%

HOLIDAY LOAN (Avail. Nov. – Dec)

Call 837-2007 for details.

FIRST MORTGAGE

* PRIME RATE AS OF DECEMBER 17, 2008, WAS 3.25%. ** ANNUAL PERCENTAGE RATES ARE 1% MORE IF NOT REPAID THROUGH PAYROLL DEDUCTION. THIS DOES NOT APPLY TO VISA, SHARE SECURED, HOME EQUITY OR FIRST MORTGAGE LOANS. ALL RATES, TERMS & FEES SUBJECT TO CHANGE WITHOUT NOTICE!

1300 Elmwood Avenue (HA-105) Buffalo, New York 14222 Mon Thurs Fri

8:00 a.m. - 12:00 p.m. 1:30 p.m. - 4:00 p.m. 8:00 a.m. - 12:00 p.m.

AMHERST OFFICE State University of New York North Campus, 326 Crofts Hall Amherst, NY 14260 Tues & Fri Wed

1:00 p.m. - 4:00 p.m. 8:00 a.m. - 12:00 p.m.

ROSWELL PARK OFFICE Roswell Park Hospital Elm & Carlton Streets (Science Bldg. 1927) Buffalo, New York Mon Tues & Thurs

12:30 p.m. - 4:00 p.m. 8:00 a.m. - 1:00 p.m.

M A T T Member Access Touch-tone Teller (716) 837-0649

DIVIDEND

NEWS

Dividend amounts are calculated on your average daily balance for the quarter and posted on the last day of each quarter. Accounts must remain open to the last day of the quarter.

ACCOUNT TYPE PRIMARY (REGULAR) SHARES $ 500 TO 1,999.99

Annual Yield

VISA CREDIT CARD ACCOUNT ACCESS

4th Quarter 2008

4th Quarter 2008

www.mortonlanedirect.com

0.30%

0.30%

$

2,000 TO 4,999.99

0.50%

0.50%

$

5,000 TO 9,999.99

1.00%

1.00%

1.50% 2.50%

1.51%

$ 50,000 OR MORE $100,000 + MORE

3.00% 3.00%

3.03% 3.03%

INDIVIDUAL RETIRMENT

2.50%

2.52%

HOLIDAY CLUB

1.00%

1.00%

SHARE DRAFT ($500 or more)

0.30%

0.30%

$ 20,000 TO 49,999.99

2.52%

2.00%

Notice From The Supervisory Committee Day-to-day account questions should be directed to the Credit Union personnel. If your problem is not solved to your satisfaction at the Credit Union office level, direct these problems to the Supervisory Committee. The following members of the Supervisory Committee are authorized to handle your Credit Union related concerns. Michael Bondanza (Chair) 833-9670

www.mortonlanedirect.com

Annual Percentage Rate

\

$ 10,000 TO 19,999.99

HOME BANKING INFORMATION

Khuda HS. Rahman 849-6754

Margarita Vargas 645-6000

EMAIL [email protected] BOARD OF DIRECTORS Thomas Schroeder. . . . . . . . . . . . . . . . .President Lawrence Lane . . . . . . . . . . . . . . .Vice President Margarita Vargas. . . . . . . . . . . . . . . . . .Treasurer Ronald Rabin. . . . . . . . . . . . . . . . . . . . .Secretary Susan Earshen Marsha Jurkowski L. Jean Young OFFICE STAFF Judy Bleichfeld. . . . . . . . . . . . . . . . . . . . . . CEO Bonny Chambers . . . . . . . . . . . . . . . . . .Manager Amy K. Kelly . . . . . . . . . . . . . Admin. Secretary Wanda Hasbrouck . . . . . . . . . . . . . Senior Teller Candy Carroll . . . . . . . . . . . . . . . . . . . . . . .Teller Ryan Kruse. . . . . . . . . . . . . . . . . . . . . . . . . Teller Marie Munley . . . . . . . . . . . . . . . . . . . . . . .Teller