Think Community

Community Action Committee of Cape Cod & Islands, Inc., (CACCI) and YMCA are pleased to offer the “Ready for School Backpack Program”. This school year, staff and volunteers of the two agencies are preparing hundreds of backpacks with school supplies to be distributed in the community. Participating Kindergarteners through Middle Schoolers will receive a back pack with age appropriate contents. Along with these supplies, the program will provide a book for each child ages Kindergarten through fourth grade as a means to support children’s early literacy skills. The backpacks will be given out on a first come first served basis. 

Previously, YMCA Cape Cod and Child Care Network, a program of CACCI, each had projects that supplied backpacks to children and youth. This is the first year that the agencies are coordinating their efforts. “I’m really pleased to be working with the YMCA Cape Cod. Both of our agencies are committed to supporting and strengthening families. Working with the YMCA, I hope Child Care Network will be able to reach more school-agers than our back-to-school project has in the past,” said Beth Gaffney, CCN Program Director.Every child should feel happy and ready to go like everybody else on their first day at school. Donations are still being accepted to complete as many backpacks as possible to meet the goal of assisting 300 children.

 A gift of $20 sponsors one backpack. For a list of school supplies that can be donated go to www.cacci.cc.   Donations can be directed to: CACCI’s Child Care Network, 115 Enterprise Rd in Hyannis, MA 02601.

Supplies that are needed on the list can be dropped off at the First Citizens Federal Credit Union Branch at 66 Falmouth Rd (Rte 28) in Hyannis.

Both agencies are grateful for the support received already, including generous funding from the Andrew S. & Katherine Y. Keck Designated Fund of the Cape Cod Foundation. To date we have enough backpacks filled with supplies foe 150 children.

Please help us reach everyone in need on our list. For more information on the “Ready for School Backpack Program” or to obtain a back pack, call Robin Hayward, at Camp Lyndon 508-428-9251 ext 0 or Maile Castillias at Child Care Network 508-771-1727 ext 263.

For additional details about this program

Contact:

Marlene Weir, Director of Planning and Development

Community Action Committee of Cape Cod and Islands, Inc.

508-771-1727 ext 134; marlene.weir@cacci.cc

Establishing Good Financial Habits 

We all tend to develop habits that provide a rhythm or structure to our daily lives. Once these habits are developed, they can be hard to break. Building good financial habits can provide a rhythm, or sense of control, for your financial life. Here are ten good financial habits that can help you build a sound financial foundation and help you reach all your financial goals:

1.      Make sure your financial information and records are organized. Knowing where important financial information is located and having a system for paying your monthly bills will save you time, money and aggravation.

2.      Use direct deposit for your paycheck. This will save you time by not having to go and deposit your check and it will get your money working for you faster. By having your paycheck automatically deposited, you won’t have to worry about losing or misplacing your check helping to keep your money safe.

3.      Use automated savings plans to save for near term purchases and long term financial goals. This involves having your financial institution or your employer transfer a set amount each month into your savings account to be available for a vacation or a major purchase. It also includes participating in your employer’s retirement plan to save for your retirement.

4.      Prepare a household spending worksheet. The process of preparing your first one will help you identify potential areas for reducing expenses. Analyzing your spending on a regular basis (perhaps quarterly) will help you monitor your spending and develop savings habits.

5.      Prepare a personal balance sheet periodically. Having a current, or relatively current, personal balance sheet can be handy when you are considering applying for a loan. Over time, you will be able to monitor your progress toward your long term financial goals.

6.      Reconcile your checking account monthly. This avoids bouncing checks and fees that may be charged if your balance is too low. It is much easier to do this every month than to skip a month or two and then have to deal with multiple statements.

7.      Review all your bills and statements as soon as you receive them. Even if you are not going to pay the bills immediately when you receive them, by reviewing your bills and statements you can identify and correct any errors. Think about switching to eBills and eStatements in order to receive your statements sooner.

 to learn more about eStatements/eBills

8.      Make credit card payments promptly and pay more than the minimum. Avoid late payment fees and reduce the amount of interest you may owe on unpaid balances by making sure your payments arrive before the due date. Paying only the minimum will cost you more in interest and it will take much longer to pay off the balance.

9.      Look to use a rewards program where you get something back that adds value to your banking relationship in return for your business. The best programs offer you an incentive with minimal effort on your part, no counting, tracking or extra special requirements. Programs like Cash Back Rewards help you earn and save extra cash just for doing the things you already do, like using your debit card.

 to learn more about Cash Back Rewards.

10. Learn more about handling your finances. The more you know, the easier handling your finances will seem. Try to read the personal finance columns in newspapers or perhaps even subscribe to a personal finance magazine.

Your habit of a morning coffee may be a good start to your day. A few good financial habits can be the start of a good financial life. 

 

Keep the conversation going

Be open to discussing finances with your children. Children are naturally curious about what they see their parents doing and you can turn that curiosity into teaching opportunities. 

The conversations must certainly be age appropriate, but when your child sees you writing checks is an ideal time to start talking about the importance of paying bills and balancing your budget. 

A question about what it means when the TV news discussing what the stock market did can lead to a more serious interest in getting information about money and long-term financial goals. And a discussion about choosing a college can be an eye-opening experience when your child learns what it costs. Take advantage of these opportunities and by the time your child is ready to leave home, they will have a foundation to better prepare themselves for their financial future.

 for deposit account information or    today!

Heart of Taunton Hosts Fabulous Family Fun Day!


Heart of Taunton Inc. is a privately funded non-profit, downtown revitalization organization, dedicated to the economic, physical, and cultural improvement of Taunton, MA. They are committed to the downtown's growth and prosperity. This independent organization is made up of retailers, professionals, bankers, service organizations, developers, city officials, historic preservationists, and people who care about downtown Taunton.

On Saturday August 29th from 11am-4pm Fabulous Family Fun Day will take place on Taunton Green. As part of the festivities First Citizens’ staff will be handing out balloons and doing children’s face painting at the event. Featuring performances by The Freezepops and DJ Kevin Hamblett, there is also free concert on the Taunton Green! Great additional attractions will be on hand: trackless train, moonwalk, inflatable obstacle course, fried dough, cotton candy, popcorn and much more! Bring a blanket or a lawn chair and enjoy the day. This is a great event and helps to encourage all to visit downtown Taunton. The rain date for this event is Sunday August 30^th.

 

Attention First Time Homebuyers:

Buying now makes more than great sense;

It also makes you $8000!

If you have been thinking about buying your first home, and are looking for some added motivation to take that next big step, look no further. Right now, in addition to taking advantage of low purchase prices and excellent interest rates, you may also qualify to receive an $8000 tax credit. 

The first-time homebuyer credit is a new tax credit included in the Housing and Economic Recovery Act of 2008. As an added bonus to home ownership, in 2009, the act was expanded to include a higher credit for homes purchased in 2009, making new buyers eligible to receive an $8000 tax credit.

The following are some of the basic tax credit guidelines:

q       You must be a “first-time buyer”, meaning you have not had any ownership interest in a home for the past three years.

q       The amount of the credit will be ten percent of the purchase price of your primary residence, with a maximum of $8000

q        The home must be purchased after December 31, 2008 and before December 1^st, 2009.

q       The tax credit does not have to be repaid as long as you remain in your home for a minimum of three years.

q       Income guideline state that the maximum income allowed for a single buyer is $75,000 to qualify for the full tax credit; the maximum joint income for married buyers is $150,000. 

Participating in the tax credit program is easy. You simply need to claim the tax credit on your federal income tax return. No other applications are required and no pre-approval is necessary.

However, you will want to be sure that you qualify for the credit under the income limits and first-time homebuyer tests. Purchasers should discuss specifics with a tax consultant to verify eligibility and all provisions of the 2009 First-Time Homebuyers Tax Credit.

Making First Citizens’ your lender ensures you will receive the quality service and attractive programs and benefits you deserve. Our originators understand that responsible mortgage lending means helping you find the program that best fits your situation and financial needs.

In conjunction with the $8000 tax credit program, First Citizens offers additional benefits to first time homebuyers by working with MA Housing to offer programs specifically tailored to meet your needs.

MA Housing is currently offering various programs to support homeowners with a first time purchase.

The following are some benefits that may apply based on qualification:

q       Rate lock in at application

q       100 % financing is available

q       Flexible terms

Now is the time to take advantage of this great opportunity. Remember, in order to qualify for the tax credit, your purchase transaction must be completed by November 30, 2009 so take advantage of these benefits of buying and speak to a mortgage originator today!

 to review our mortgage products.

 to review mortgage rates.

 to contact a mortgage originator today!

Safety First: Protecting your information

 

As the use of the Internet in our daily lives continues to grow, the various forms of scams, identity theft and schemes designed to take advantage of honest people continue to increase as well. This article contains information on some of the new and most prevailing scams on the Internet. Remembering a few simple rules when dealing with email or Internet information requests can save you from falling prey to these types of schemes. In addition, through our Security and Fraud Alerts webpage and our Online Education Center, you can review the latest information on email/internet scams and Identity Theft and can learn tips and information that will help you from having your Identity and/or credit history compromised.

First Citizens’ is committed to keeping your money and personal information safe. We will never solicit your personal information through email. We want to give you the resources you need to protect yourself on the Internet as well! If you have questions concerning your account and possible fraudulent activity, please contact us at 1-800-642-7515. 

Examples of Common Email Scams

Most email scams end up involving requests to send money, cash checks, establish business relationships or requests for information.

Nigerian Letter

This scam has been used for decades and has migrated from mail to faxes to email.  An email will often start off with an introduction indicating that a government official (or some other person that would appear to have access to large amounts of funds) has died and left a large amount of money that is available to be transferred.  The message then encourages the recipient to participate in the transfer in return for a share of the funds.  Over time, the sender may ask for funds to cover taxes, bribes to others and legal fees that will be reimbursed once the funds are transferred.

 Over the years, the deceased individual has been described as a minister of mining or natural resources, successful business owners and royalty.  The locations have also changed over time.

In fact, there is no deceased official and no funds available to be transferred.  The scam appeals to an individual’s need for quick cash and a willingness to skirt foreign laws. 

Canadian, South African, Netherlands, United Kingdom, “You Name It” Lottery

An email will arrive notifying the recipient that they have won a lottery.  The email may even mention a legitimate lottery organization, but just because the email includes that name, it does not mean the email is  from the organization.  There is usually a request to keep the winning secret.  The email then asks that a claims agent (or some other official sounding person) be contacted to arrange for payment.  Once those conversations start, there is  typically a request for funds to cover taxes, legal fees or other processing costs.

 There are several things that should make one very suspicious:

• Unless you bought a lottery ticket, you are not going to win.
•  Generally, taxes on lottery winnings are withheld from the payments and not paid up front.
• Legitimate lottery organizations do not charge fees.
• Most of these emails come from free email accounts like Yahoo, Hotmail, Gmail, MSN or those provided by an Internet service provider.

Check Cashing Schemes

These may take the form of an email indicating that the sender wants someone to cash checks in return for keeping a portion.  “I will send a check made payable to you drawn on XYZ Bank in the amount of $10,000.  All you have to do is deposit it.  In return for doing this, you can keep $1,000 and wire $9,000 back to me.” 

This scam is usually promoted through emails but may also be found on job listing sites.  The original check and the scam artist have traditionally been from overseas, but are not always.

The check may look real, but in reality, there is no account or the account has insufficient funds to cover the check.  In this scam, the victim sends money to the thief only to find out later the check is a fraud. This results in a loss of funds sent out and in some cases money owed to the financial institution where the victim negotiated the check.

Refund Scams

These schemes can take many forms, but usually involve an email indicating that the recipient has a refund due, but needs to provide information to speed the processing of the refund.  The scam artists may claim to represent the IRS, state tax officials or even stores where someone may have purchased something.

The email directs the recipient to a website that may look legitimate but is a faked or spoofed site.  Once there, the person will be requested to provide various personal information such as Social Security number, credit card number or specific account information so the refund can be directly deposited.

Providing this information is dangerous!  Once in the hands of a fraudster, it can lead to credit card fraud, unauthorized access to your financial accounts or identity theft.

The IRS and most state taxing authorities usually do not use email to correspond about refunds.  Commercial establishments may use email but you should be very wary of emails like this.  Before providing the information online, contact the establishment by phone to make sure the request for information is legitimate.

Financial Account Confirmation Scams

Emails that request sensitive information are often called phishing emails.  They often take the form of a message from a financial institution asking for the recipient to provide their account information due to a computer error, as part of a system upgrade or even as part of an enhanced Internet security initiative.

The recipient is usually directed to website that may look real, but is not.  The information requested may include account numbers, user names, access codes and passwords.  All of this information is dangerous in the hands of scam artists.

Financial Institutions do not request that you provide personal information through the email.

If you have questions concerning your account and possible fraudulent activity, please contact us at 1-800-642-7515.


For more general information regarding identity theft and how to protect your personal information,   to visit our online education center.






Advantages to the Visa CheckCard

Even though debit cards (or check cards) have become widely used, many people are unfamiliar with them. They look like credit cards or ATM cards, but function like cash or personal checks. When you use a CheckCard for a transaction, the money is automatically taken from the checking account that the card is linked to. Debit cards can function in two ways – like an ATM card for immediate withdrawals of cash from an account or like a check when you are making a purchase or paying a bill. The money used to pay for the transaction can be taken or held immediately but is usually deducted from your account within a day or two, just like a check. 

CheckCards are a convenient way for you to make purchases using the funds available in your checking account. When using the card at a retailer or performing a transaction in person, your CheckCard is typically swiped through an electronic device. The system then contacts your banking institution to request a payment. After a card is swiped, you enter a pin code to perform a “debit” transaction or sign a receipt for a “credit transaction”. The payment is then either approved or denied based on the availability and amount of money in your account.

Advantages of a CheckCard

q       Easy to obtain. 

o       Since you are not applying for credit, if you qualify for a bank account, most institutions will issue a card.  

q       Safety. 

o       Having the card eliminates the need to carry cash or a checkbook.

q       Readily accepted. 

o       When out of town or the country, debit cards are usually more widely accepted than an out of town check.  It can also save you from having to stock up on traveler's checks or cash when you travel.

q       Personalization.

o       Programs like the First Citizens’ custom card program allow you to use a personal photo, image or design to reflect your unique style or allow you to easily carry special memories in your wallet.

 to order your First Citizens’ custom CheckCard today!

q       Bonus Rewards.

o       Special programs like Cash Back Rewards mean you can earn cash back on purchases simply by signing for your transaction rather than entering your personal identification number (PIN)

                          to enroll in the First Citizens’ Cash Back Rewards Program.

q       Flexibility.

o       You can use your Visa check card in physical store locations and over the Internet/phone. When using your CheckCard at most stores, you can even use it to get cash back, saving you from a trip to the ATM. Also, you can avoid the interest charges you have to pay when using a credit card because funds are deducted from your bank account as opposed to being borrowed from a creditor. 

o       This may be a good option for those who have gotten into trouble with unrestrained credit card spending as you can easily keep track of what you are spending and you are limited to spending the available funds in your account.

Some Safety Guidelines:

q       Guard your debit card against loss or theft. Keep it in a safe place just like cash, credit cards or checks.

q       If you lose your debit card, notify your financial institution immediately. They will ensure your account is secure by locking out the CheckCard and can issue you a card with a new number. 

o       First Citizens’ is using new technology that allows the Credit Union to issue a replacement card to you within 24 hours in the event that a card is lost, stolen or compromised.

q       Choose a PIN number that only you know. Don’t use your phone number or birthday. Guard your PIN number. Memorize it and avoid writing it on your card or leaving it written somewhere in a wallet or purse where your card is kept.

q       Keep receipts from all your debit card transactions.

q       Review your statements immediately and investigate any unknown transaction.

              for information on First Citizens’ Visa CheckCards.

Ten Reasons to Consider Online Banking

The Internet is constantly changing the way we live and has quickly become the choice method of communication for many. It has also become a major factor in the financial lives of millions. Using the Internet to interact with your financial institution can help simplify and better manage your financial affairs.

The greatest benefit to online banking can be summed up in one word, accessibility. Online banking is available to you anytime, anywhere. All you need is an Internet connection and your computer, cell phone, or PDA to complete your banking business. Most transactions offered at a physical branch location can be completed online quickly, easily and securely. Best of all, online banking with First Citizens’ is completely free!

Here are nine other reasons to consider using online banking:

1.      Online banking is a great tool to help you make better-informed financial decisions. Many institutions have sections of their websites dedicated to providing useful financial education and information.

2.      You will save time and money. Online bill paying eliminates the costs of stamps and ordering checks. Avoiding trips to the bank saves gasoline and parking fees. You can bank whenever and wherever you want. 

3.      You gain greater flexibility and can transfer funds between your accounts easily. Knowing how much money you have in each account enables you to move money to other accounts and you are managing your expenses and earnings using the most current information.

4.      You can get the most up-to-date rates and information. Checking out the current rates on CDs, savings accounts and loans is fast and easy.

To check out the most recent deposit rates

5.      It is safe. Online banking activities use highly sophisticated encryption devices to ensure safety and privacy. Your access code (or PIN number) should be guarded carefully. Also, online banking helps avoid identity theft since you don’t need to have paper statements and other financial records hanging around.

To learn more about First Citizens’ Enhanced Online Security

6.      Paying bills online means you will save time, reduce paper consumption and gain greater control over your monthly spending. With these services, paying your bills just takes a mouse click. It’s fast, easy, secure and fits yours busy lifestyle. In addition, bill pay is offered to you as a free service at First Citizens’.

To learn more about First Citizens’ bill pay

7.      Loan applications are available online. Applying for a loan online means saving a trip to the bank while completing your application at your convenience. In addition, you may receive a pre-approval that will assist you in buying that great new car or home. Your online application is reviewed and approved quickly and efficiently, just as if you applied in person. 

First Citizens’ website currently offers auto, personal and home loan online application. There are even helpful mortgage calculators to help you determine what terms and products are best for you! Remember, our friendly staff is also available to answer any questions you might have over the phone or in person at any one of our several branch locations.

To review loan rates  or  

8.      You can review your account activity and know your up-to-date balances. It is easy to see which checks have cleared and monitor your account. No waiting for your monthly statement to make financial decisions means you can make informed decisions using the most current and accurate information right now. 

Another convenient service offered by First Citizens' is eAlerts. This great new service allows you to set up text messages or email alerts that can be sent to email, blackberry or mobile phone. Here you can receive notifications for direct deposit, check clearing or balances and many other account related events. Use First Citizens' eAlerts to help manage your money while you are on the go. There is no monthly fee or sign up charge.

Simply log in to online banking and set up your eAlerts messages today.

9.      You can receive valuable information. There are electronic newsletters and email messaging to keep you fully informed about any special offers financial institutions may have. For example, First Citizens’ offers a free enewsletter that will provide you with important financial information, updates on promotions or specials, info on new products and services, and news on local business and community organizations.

To sign up for New@First

You owe it to yourself to consider the benefits of having an online relationship with your financial institution. Online banking puts all of the information you need to make the best financial decisions right at your fingertips. Try online banking today!

   The Ocean Explorium Hosts the NASA 
"New Views of the Universe" Hubble Telescope Exhibit 

Released: October 28, 2009

The Ocean Explorium is pleased to announce the installation of a stunning new exhibit which will take visitors on a celestial journey through the eyes of the world’s greatest space telescope.

The National Aeronautics and Space Administration (NASA) traveling exhibition, New Views of the Universe, opened on Saturday, October 10.  Showcasing dazzling deep-space discoveries of the world’s largest telescope, the exhibit immerses visitors in the mystery and magnificence of the Hubble Space Telescope mission.

It took several days to install the Hubble traveling exhibit at the Ocean Explorium.  The 2,000 square-foot exhibit features a number of interactive displays and a scale model of the Hubble Telescope, which has revolutionized astronomy with its capacity to provide deep and clear views of the Universe, even distant fledgling galaxies as far away as 12 billion light years.

Orbiting 350 miles above the Earth, the Hubble Space Telescope helps answer some of science's key questions. It has provided unprecedented scientific discoveries including a refined estimate of the age of the Universe and definitive evidence of black holes. 

For no additional entrance fee, visitors to the Ocean Explorium will see Hubble’s remarkable contribution to space exploration.  Through interactive activities, including computer games and videos, they will learn how the space telescope works, and see astonishing images of planets, galaxies, black holes, and other cosmic bodies - real images of our universe.

In addition, the Hubble exhibit at the Ocean Explorium will introduce visitors to Hubble’s successor - the “next generation” James Webb telescope, scheduled to launch in 2014. The James Webb telescope will be a large infrared space observatory, which will find the most distant objects in the Universe and study the formation of solar systems.

The Ocean Explorium is a public center for science education in downtown New Bedford - a unique blend of aquarium, museum, science center and school.  Its focal exhibit is Science on a Sphere^®  - state-of-the-art global display system which shows the Earth and planets in 3-D, like viewing the planets from outer space.  It also features a colorful collection of marine animal exhibits from around the world, and a children’s activity center.  The Ocean Explorium is open to the public Thursdays through Sundays, on holidays and during school vacations.  Visit www.oceanexplorium.org for more.




 

First Citizens' eAlerts

To help you manage your money while keeping up with todays fast pace environment, First Citizens’ now offers eAlerts. With First Citizens' eAlerts, you can receive updates on your account transactions wherever and whenever it is convenient for you. Enjoy the time saving convenience of eAlerts, so you can have peace of mind knowing you have the most up to date information on your accounts. It's easy, fast, free and fits today's busy lifestyle.

First Citizens' eAlerts benefits:

• Set up text messages or email alerts
• Alerts can be sent to email, blackberry or mobile phone
• Notification for direct deposit, check clearing or balances
• Free with First Citizens’ online banking

Free eAlerts
Use First Citizens' eAlerts to help manage your money while you are on the go. There is no monthly fee or sign up charge. Another convenient Service from First Citizens'.

 for a  few simple steps to set up your eAlerts. 
 to log in to Online Banking.


 

Think Retirement:

An IRA can help you meet your long-term goals!

Knowing your options when planning for retirement will allow you to make the best decisions for your future. Individual retirement accounts (IRAs) continue to be one of the most powerful ways to accumulate funds for a financially secure retirement. IRAs are a great retirement savings option for many reasons:

·        IRAs are convenient ways to save money.

·        IRAs are available to everyone with earned income.

·        Earnings within IRAs are not subject to current taxation.

·        Contributions may be tax deductible in some cases.

·        Additional contributions may be made by those ages 50 and above.

·        There is flexibility when you begin taking money out of IRAs, especially with Roth IRAs.

·        Term Certificate IRAs reduce risk by securing your principal. They also guarantee a specified return rate for a pre-determined period of time.

The keys to maximizing the ultimate value of your IRA are simple – contribute as much as you can, as early as you can and earn to your potential. Here are four ways to put those keys to work:

1. Make Contributions

Everyone with earned income (wages) is eligible to contribute up to $5000 to an IRA for 2009. In addition, if you are age 50 or over, you can contribute an extra $1000 for 2009. You can contribute to a regular IRA regardless of your income. Also, it may be tax-deductible if you are not a participant in a company sponsored plan or if your adjusted gross income is below certain levels.

2. Start Now- Make Contributions Early

The earlier you make contributions, the earlier your money begins earning on a tax-deferred basis. The latest you can make 2009 contributions is April 15, 2010 (or the extended due date of your tax return). The earliest you can make 2010 contributions is January 1, 2010. By making your contribution early, you are more likely to make an extra contribution over your working career and it adds up. 

3. Make Up the Difference - Take Advantage of the Catch-up Provision

For the past several years, individuals age 50 and above have been eligible to make increased contributions to their IRAs. For 2009, those individuals can contribute an extra $1000 to their IRAs. Someone that turned age 50, that can continue to make extra contributions for 15 years until they retire at age 65, the extra accumulation could mean a significant increase in their total funds saved.

4. Investigate Your Options - Invest Your IRA Wisely

Your IRA is, or will become, a significant part of your net worth. How it is invested deserves the same attention you give your other investments. Be sure to include your IRA in your overall investment planning and apply the same principles of asset allocation, diversification and risk tolerance. Because the funds in your IRA will remain there for extended periods of time, you should take a long-term approach with how the funds are invested. If you choose a lower risk fixed income approach, consider longer term CDs instead of shorter-term savings accounts or money market funds. You will ultimately be responsible for your retirement. The decisions you make concerning the management of your investments are important. Carefully considering your options and using the services of a qualified professional will assist you in meeting and exceeding your long-term goals.

The following information will help you get started with your retirement plan. It offers basic information on contributions, tax deductions, and distributions*:

*Consult your tax advisor to determine how these rules may apply to you.

The savings, tax deferral and earnings opportunities of an IRA make good financial sense. You have until April 15^th of the following year to fund your IRA. 2009 contributions must be made by April 15, 2010 and 2010 contributions can be made from January 1, 2010 until April 15, 2011. The sooner you make your contributions, the more your money will grow!

First Citizens’ is a great resource for IRA information. Visit your local branch to receive additional IRA information or to open an IRA Term Certificate.

 to get more information on IRA Term Certificates

 to get details on IRA Term Certificates offered by First Citizens’ 











                     12th Annual Spaghetti Supper for Hospice

Community Nurse and Hospice Care is a dynamic not-for-profit healthcare organization serving the diverse communities of southeastern Massachusetts. We excel in providing quality, cost effective, compassionate home health and hospice care.

Our goal of optimal wellness is achieved through consistent professional care, on-going patient teaching, comprehensive wellness and public health programs.We are dependent upon donations and fundraisers to support their hospice program. As you may imagine, terminal illness is challenging to both patients and their families. The agency is committed to not only providing medical care, comfort and dignity to hospice patients, but also to offsetting the financial burden that families may endure after health insurance reimbursements have been exhausted.

The 12th annual Community Nurse & Hospice Care’s Spaghetti Supper will be held on Saturday, January 30, 2009 from 4-7p.m. at St. Francis Xavier School at 223 Main Street in Acushnet. Tickets are $8 for adults and $4 for children under 12 years old and may be purchased in advance or at the door.

Please join us for good food including spaghetti with sauce from Mike’s Restaurant, bread and dipping sauce from Not Your Average Joe’s, salad, dessert and beverages!   This fun evening out will also include raffles and a chance auction with over 25 prizes! All proceeds from this event will benefit the patients and families of the agency’s Hospice Program.

The proceeds raised from this event will be used to care for hospice patients including the cost of the hospice staff, medical equipment and supplies, medications and bereavement support not covered by health insurance.

For tickets or more information, please contact Linda Quinn, Fundraising Coordinator, at 508-992-6278, lquinn@communitynurse.com, or 508-992-6591 (fax). For more specifics about Community Nurse & Hospice Care, please refer to www.communitynurse.com.
 



















*Contest Rules: Must be 18 yrs. of age or older. Drawing for Laptop Bundle will take place at 9:00 am, February 15th, 2010 in the lobby of the Credit Union's administrative offices in Fairhaven, MA. First Citizens' Federal Credit Union members enrolled in eStatements or eBills by the close of business February 12th, 2010, are automatically entered to win. Winner will be notified by e-mail or phone. You need not be present to win. Prize has a retail value of $391.97. Prize may be subject to income tax reporting. Winner is responsible for consulting a tax advisor. Employees and volunteers of FCFCU and their immediate family members are not eligible to win. Odds of winning depend on the number of entries received. Winner agrees to allow First Citizens' to use the winner's photograph and name in subsequent press releases, as well as print or web advertising.


































 

An Open Letter to Customers and Friends of First Citizens’ Federal Credit Union

I am writing to the First Citizens’ Community to recap the year 2009 and to provide some perspective on 2010. We at First Citizens’ have kept a promise to provide you the best service we possibly can, to keep your money as safe as we can, and to directly speak to you whenever we can on issues important to you as customers and as people. We know that what we do is essential to the people we do business with, because your deposited funds are your future and your past all wrapped together. We never forget that mandate and never will, during good times and during bad.

2009 was a difficult year for many of us, and for many people that we know and work with. Broader national economic trends have swept across the region lowering housing and asset valuations, eliminating jobs and driving business revenues lower. There is hardship all around us as unemployment, business and housing news continue to trend downward and foreclosures, short sales, and bankruptcies continue to rattle the foundations of families and businesses.

Unfortunately, the economy will most likely continue to shake off the effects of the recession throughout 2010; unemployment most likely will stay about where it is now. Some balance sheets have been particularly hard hit, notably those of financial institutions and investors in the high impact states having vulnerability to a profound residential collapse in prices, industry failure such as the automobile industry, and financial deleveraging by the largest financial firms in the country. While we have fared better in Massachusetts, we are at the tail end of a market adjustment that is still underway. It is surely showing signs of slowing down but progress is uneven.

Despite all of the unprecedented conditions that have been thrust upon us all, I am proud to be able to report a truly successful year for this Credit Union. We grow very modestly over time through management of the earned capital we retain from operations. We make loans, consumer, mortgage, and business loans from the funds that we raise by holding your deposits. We manage your financial affairs through checks, on-line banking, bill pay and debit card transactions all of which we monitor very closely to ensure your funds are safe and your privacy in intact.

We developed a mortgage modification program as the real estate market got difficult a full nine months before the federal Government, because it was the right thing to do and we knew some of our customers needed it. We have made more new mortgage loans this past year  than in any previous year, because our local market needed it. We have grown our member business loan portfolio because it is good business and the community needs it. We did not sit back over the last 18 months, but continued to strengthen the credit union and provide the products and services you requested and needed to better manage your financial matters. We support a wide range of charities through direct charitable support and by the involvement of our entire employee base.

So how do we move forward from here?

We will move forward with the same resolve and purpose we have demonstrated when times were difficult in the past. We will work even harder and with more conviction; we understand that our purpose and function for taking care of your financial assets has never been more important. We will continue to make sound mortgages, business loans and auto loans to our members. We will continue to offer competitive deposit products and services to continually help you better manage your banking needs. We will manage this credit union as we always have, carefully and prudently and with the best interest of you always in mind.

So on behalf of the Board, management team and all employees I thank you for the opportunity to serve you over the past year. We appreciate your continued trust and support and look forward to being there for you again in 2010. 

Sincerely,

Peter Muise

President & CEO

First Citizens’ Federal Credit Union











 

Cape Cod Children’s Museum Press Release

January 22, 2010

FOR IMMEDIATE RELEASE

Contact: Conni Baker 508-539-8788

BOWLERS NEEDED FOR A GREAT “FUN”DRAISING TIME

WITH THE CAPE COD CHILDREN’S MUSEUM

The Cape Cod Children's Museum is hosting its 7^th Annual Bowl-A-Thon fundraiser on Sunday, March 7, 2010, from 9:00 am – 12 noon, at Leary Family Amusements, in Falmouth. 

The Museum is currently looking for bowlers and sponsors to participate in this very fun and exciting event. 

Sponsorships and pledges will help the Museum reach our goal of $10,000. 

As a designed 501(c)(3) non-profit organization, the Museum relies on fundraising to support its mission to provide a learning environment that stimulates curiosity, creativity, and imagination and inspires children and their families to engage with each other, their community, and the world at large.

 A $500 team sponsorship will buy a team sponsorship with your company’s corporate name and logo and 5 employees, friends or family members will participate and bowl. All associated fees are included, as well as a hearty breakfast and eligibility for most of the prizes awarded! 

A $250 lane sponsorship provides you with lane and team naming rights with your business name and logo and one individual representative blower will enjoy blowing and all the festivities. Your company is invited to add the four additional bowlers (employees, family or friends) who must commit to raising a minimum of $100 each in pledges to participate.

A $125 team only sponsorship give you the team naming rights with your business name and logo. Your company (or the museum ) will provide the bowlers (who will commit to raising a minimum of $100 in pledges).  

Each bowler raising their $100 in pledges will enjoy a hearty breakfast and be eligible for wonderful prizes. 

A sponsorship is a wonderful way to advertise your company, build employee morale (or spark a bit of business rivalry) and all for a great fundraising event! 

Come join in the excitement of a morning filled with fun people, good bowling and awesome prizes, all to benefit a great organization.

To obtain sponsorship information, bowling pledge forms, or more information, please contact the museum at (508) 539-8788, email us at cbaker@capecodchildrensmuseum.org or visit us at www.visitcccm.org.

Does Debt Consolidation Make Sense?

If you are like most Americans, your mailbox is filled with offers for debt consolidation through credit cards, mortgage refinancing and home equity loans. Many of those offers stress the benefits of moving existing balances to the new lenders. While that may sound appealing, especially if the new loan offers an attractive initial interest rate, it is important to consider all the factors associated with debt consolidation.

Debt Consolidation is Debt Management, Not Debt Elimination

The most important step you can take towards effective debt management is to understand what your financial goals are, and make a plan to move forward to achieve those goals. Many people want to eliminate their debt. However, moving all your outstanding loan balances to one lender will not reduce the amount you owe. You must ultimately pay off the loan and pay interest until the loan is repaid. Your goal should be using debt wisely. Consider the following steps:

Get all of the Facts

Although refinancing or consolidating debt might be a great option for you, it is important that you find a product, or program that fits your specific needs. A banking professional at your local institution will be able to help you sort out the options. Mail offers from debt consolidation and debt settlement companies often have disadvantages such as the following:

·        High up front fees

·        Lack of understanding of your specific needs as they will sign you up without reviewing your financial situation

·        You must make payments into the “plan” before your creditors agree to a settlement

·        There may be a negative impact on your credit score

·        It can take several years before your payments are complete and your credit is in good standing

Paying down your credit card debt

Even if you have not borrowed the maximum allowed for your credit card, paying down your balance should be one of your top priorities.

·        Pay more than the minimum on your credit card balance. Interest rates charged on most credit cards are usually much higher than those found on other loans.

·        Making your credit card payment as soon as you get the statement will help reduce the interest you are charged.

·        Minimize your credit card usage for a period. Along with not subjecting higher balances to interest, using cash may help you identify ways to spend less.

Evaluating the real estate based alternatives

Start by reviewing the interest rates on your existing debts. Credit cards and unsecured personal loans usually have higher interest rates than other forms of secured debt like a mortgage, home equity loan or an auto loan. If you find that your rate on a home equity line of credit is less than the rates on credit cards, other personal loans or auto loans, utilizing borrowing through that line of credit may save you money.

To view First Citizens’ mortgage rates “click here”(button)

Then evaluate your borrowing capacity available through a mortgage or a home equity loan. 

At First Citizens’ our mortgage specialists are on hand to discuss your needs and help you determine what is the best way to achieve your financial goals. Borrowing through a shorter-term home equity loan may lower your interest rate, and you will have the option of a fixed or variable rate to chose from. If you have a great deal of high interest rate debt, increasing the size of your fixed rate mortgage with a refinance (even if you end up with a slightly higher mortgage rate than what you currently have) may result in lower overall interest costs. The interest you pay on your mortgage or home equity loan may also be tax deductible resulting in additional savings during tax time.

Final words

·        Discuss your situation with your financial institution. They will be able to explain the alternatives and may offer you a special program because of your existing relationship. First Citizens’ currently offers a relationship rewards program where you may be eligible for additional discounts to your loan rate.  

·        Evaluating real estate based alternatives can get a bit complicated, so you may want to discuss them with a financial professional.

·        Use common sense. Remember that borrowing money means you have to repay it. If your borrowing is too high, take immediate steps to reduce it. Every dollar of debt reduction will translate into less interest you have to pay.

·        Get professional help if you need it. There are many organizations that help consumers when all else fails. The Consumer Credit Counseling Service is one you may want to consider. Look in the phone book for a local office. Their service is free and they have helped thousands. Be very wary of any organization that wants you to pay a fee for their services or that promise an easy solution to your situation. If their message sounds too good to be true, it probably is too good to be true.

Please visit us online for more information on products and services that will assist you in meeting your financial goals

If you would like to contact a First Citizens’ mortgage specialist or request more information on our great products and services by email

Also, if you have additional questions, our friendly associates are always available to help! Stop by your local branch or reach us by phone at 1-800-642-7515.

FIRST CITIZENS’ ANNOUNCES 14th ANNUAL

$1,000 BARBARA WHITEHEAD SILVA SCHOLARSHIP &

THE NEW CHAMPION FAMILY SCHOLARSHIP

FAIRHAVEN, MA -- FEBRUARY 1, 2010 – For the 14th consecutive year, First Citizens’ Federal Credit Union has announced it will continue its scholarship program named after Barbara Whitehead Silva, former President/ and Chief Executive Officer. Silva retired from First Citizens’ Federal Credit Union after 45 years of dedicated service to the institution. The Credit Union will award a $1000 scholarship in recognition of her years of service.

In addition, First Citizens’ is offering the Champion Family Scholarship for the first time this year. Two $1,000 scholarships will be awarded to immediate family of members with a Champion Checking Account. Champion accounts are exclusively available to teachers, EMT, police, and firefighters. First Citizens’ donates $10.00 to the Champion Family Scholarship Fund each time a new Champion Checking Account, Auto Loan, Mortgage or Home Equity Loan is opened.

Applications are available at all First Citizens’ branch offices or online at www.firstcitizens.org. Requirements state that the applicant or parent must be a member of First Citizens' and the applicant must be a high school senior accepted to a college or university for the 2010-2011 academic year. They must submit 1) a completed application, 2) a one page typewritten essay (double-spaced) that addresses why their major field of study was chosen and how it applies to their career goals, and 3) comprehensive official transcripts.

Application deadline is April 2, 2010.

To view or print a scholarship application 










 

The Basics of Income Taxes

For almost 100 years, Americans have been paying federal income taxes. Over those same years, the income tax law itself and the rules surrounding the law have become complex and confusing. Many have found that professional income tax advisors, and software programs are essential for preparing tax returns and just dealing with all the financial issues associated with income taxes.

This article does not replace the expert advice of professionals, but rather explains some of the basics so you can better understand how our income tax structure works, how it can affect your financial decisions and how you can be a more-informed income taxpayer. 

Our income tax system is generally described as a progressive, marginal rate system. This means that as we earn more income, we pay higher rates of tax on that income. To better understand this consider the following three components – how much is taxed, what tax rates apply and how do we pay the tax. Then, unfortunately, there are all the additional rules.

How much is taxed – or what is taxable income?

When you prepare your tax return (Form 1040), or gather information for your accountant, you probably start by identifying all your income for the year. This includes your wages (reported on Form W-2 and supplied by your employer), dividends and interest (reported on Form 1099 and supplied by your bank, credit union, brokerage firm and others), any capital gains you had during the year (determined your own records or supplied by a mutual fund or brokerage firm) and income from self employment, retirement plan distributions, Social Security income and other sources. You then get reductions for deductible IRA or retirement plan contributions and a couple other items.

The next step is to determine your deductions. The tax law allows itemized deductions for state and local taxes, interest paid on mortgages, charitable contributions, medical expenses that exceed certain levels and a few other items. If you do not have large amounts of itemized deductions, you can take a “standard deduction.” After all the needed calculations, you arrive at your “taxable income.”

How is your taxable income taxed?

There are different tax rate schedules depending on your filing status. Most taxpayers fall into the categories of “Single” filers or “Married Filing Jointly” filers. Here are the tax rate schedules for single and joint returns for 2010. 

Income Tax Rate Schedules for 2010

You should also note that the 2003 Tax Act brought the tax rates on long-term capital gains and qualifying dividends down to 15%. This new tax rate is scheduled to be in effect for all tax years through 2010. The rate on gains for taxpayers in the 10% and 15% brackets will be 5%. The 15% tax rate for dividends applies to most dividends from investments, but does not cover receipts that are “interest” in nature like those from money market funds and fixed income mutual funds. It also does not apply to distributions from real estate investment trusts.

Depending on your situation, there may also be a few “credits” that can be applied to reduce your taxes for things like foreign taxes and certain education expenses. The net result is your income tax liability for the year.

Paying your income taxes

Your employer withholds federal income taxes from your paychecks and forwards those funds to the government. This is reflected in your Form W-2 along with your earnings and Social Security withholding. The amount of income tax they withhold is based on the Form W-4 on which you identify the number of “exemptions” you claim. The larger the number of exemptions, the less they withhold.

Some individuals also end up making quarterly estimated income tax payments if they suspect their withholding will not be sufficient. There can be interest and penalties if the total of your withholding and estimated payments are too little.

You then compare your income tax liability with the total payments you have already made and the difference is what you owe or the amount of refund you should receive.

Other issues

This article has only provided some of the very basics of our income tax laws. The Alternative Minimum Tax, special distributions from retirement plans, stock options, changes in marital status are just a few of the hundreds, if not thousands, of other issues that can complicate your situation. 

Each person’s situation is different, the rules are complex and the consequences of not following the rules can be severe. Be sure you get the tax advice you want and need from a qualified professional.

Protect your Personal Information!

Shredding Personal Documents and When to Dispose of Them

Disposing for personal information properly is one important step you can take to protect yourself from identity theft. When you put a piece of paper in the trash it can be difficult know what happens to it. Since few people burn trash anymore, it is likely that your trash passes through several stages on its way to a landfill or incinerator. Every step that occurs once the trash leaves your control has risk that someone will find personal information they can use to cause you harm. 

One way to safeguard personal information is to shred it before it goes into the trash. Shredding devices are available at most office supply stores. You may want to consider one depending on your level of concern. Shredding services or shredding events are often offered by financial institutions or community organizations.

Permanent Files

Documents to keep forever include wills, powers of attorney, birth certificates, marriage documents, divorce or child care orders, trust documents, business agreements, military records and other such permanent records.

Electronic data files with personal information

Floppy diskettes and CDs should be shredded, destroyed or made unusable in some manner. Computer hard drives deserve special attention. Hard drives may have information on finances, taxes, user names, passwords and other information that should not fall into the hands of fraudsters. Deleting files and formatting a hard drive does not permanently remove the files from the system. Before disposing, recycling or donating a PC, the hard drive should be removed and physically destroyed.

To cut down on paper clutter from record retention, consider using online banking services such as eStatements, Bill Pay, and Online Banking.

eStatements allows you to receive your statement online and view it securely over the internet. The First Citizens’ eStatement system automatically saves your statements as far back as two years. This eliminates the need for you to store a physical paper statement. You can also download the statements and store them on a disc or on your hard drive.  Bill Pay and Online Banking may also eliminate the need to keep copies of cancelled checks and household bills and receipts from payments on hand while saving you time and money. The best part of all is that all of these services are available to you free from First Citizens’! 

Cape Abilities 5K Walk/Run 
Saturday, May 15th in Hyannis

PRESS RELEASE

Date: March 29, 2010
Contact: Sarah Cusick at Cape Abilities

Phone: 508-367-4371
Email: scusick@CapeAbilities.org

Cape Abilities 5K Walk/Run
Saturday, May 15th, 2010
Hyannis Village Green, Cape Cod
Registration: 8 - 9 AM
Run start time: 9:15 AM
Walk start time: 9:20 AM

Cape Abilities 5K Walk/Run in Hyannis is scheduled for Saturday, May 15^th. Cape Abilities is a non-profit that provides jobs, homes, transportation and therapeutic services for people with disabilities across Cape Cod. This is the 10^th year for this annual event.

The 5K Walk/Run begins at Hyannis Village Green and follows a flat and scenic course by Hyannis harbor. The course is flat and wheel-measured. The walk/run is open to walkers and runners of all abilities.

All of the proceeds from the 5K are used to support Cape Abilities. Participants can register online at www.firstgiving.com/capeabilities. Register by May 1 st and you will be entered in a drawing for a $50 gift certificate to Cape Abilities Farm in Dennis.

Anyone can donate or raise money for Cape Abilities – for more details visit www.firstgiving.com/capeabilities

There are over $2,500 in prizes for runners and fundraisers!!   

Protect your accounts from becoming abandoned property…

Did you know… if a checking or savings account remains inactive for three years, state law requires that the funds in it be transferred to the state? All states have laws in place regarding unclaimed property that determine how dormant bank accounts, and other personal property that is inactive, unclaimed, or “abandoned” should be handled. These laws are called escheat laws.

Each year In Massachusetts, credit unions, banks, insurance companies, investment companies and other businesses are required by law to surrender inactive accounts to their state's department of revenue.The state considers financial assets with no activity by its owner for an extended period of time to be “abandoned property”. After three years of inactivity, it is assumed that the person who holds the account is or could be deceased. The state then serves as custodian of this money until the rightful owner claims it.

Abandoned property reporting is required for savings accounts, checking accounts, unpaid wages or commissions, stocks, underlying shares, un-cashed dividends, customer deposits or overpayments, certificates of deposit, credit balances, refunds, money orders, paid-up life insurance policies, safe deposit boxes, and un-cashed benefit checks, gift certificates, etc.

Safeguarding your money is easy and even if there is no activity to your account, written or oral communication between you (the account holder) and the institution protects the funds in your account from being sent to the state. (Note: interest payments do not constitute activity.) Also, if your funds get transferred to the state, they are refundable from the state upon request. However, after property is transferred, it is the burden of the property owner to retrieve these funds from the state. There is no time limit for making a claim, and no fee is charged to reclaim your money from the state.

The best ways to protect your property from escheatment is to stay in contact with financial institutions, employers or any business that may be holding your accounts. Keep your address up to date; cash or deposit dividend checks and open all your mail from these institutions will also help ensure that your funds will not be subject to escheatment. A list of all your accounts may be helpful in case you need to refer back to it. This will also protect your estate so that all of your property will go to your heirs should something happen to you.

In the upcoming months, First Citizens’ will be sending out reminders to our members that are in danger of having their property surrendered to the state. Any account holders who do not respond to their notice of abandoned property and whose accounts have been considered inactive for the last three years must be surrendered to the state later this year. It is a good practice to update your accounts at least once a year to avoid dormancy or inactivity that can later lead to your funds being surrendered to the state.

You may have a claim to forgotten money if:

Ø      You have moved and failed to update your address with account holders

Ø      It has been more than three years since your last deposit and/or withdrawal in your bank account.

Ø      You have changed jobs or retired and failed to pick up your final paycheck.

Ø      You have discontinued payments on an insurance policy.

Ø      You have forgotten to pay your safe deposit rental fee.

Ø      You have failed to receive a utility, cable or telephone deposit after stopping service.

For help in answering a specific unclaimed property question in Massachusetts, contact the following:

Massachusetts Abandoned Property Division
One Ashburton Place, 12th Floor
Boston, Ma 02108-1608
Phone: (617) 367-0400, 1-888-344-MASS (toll-free Massachusetts only)
Fax: (617) 248-3944
Website: http://abpweb.tre.state.ma.us/abp/abp.htm

The state also has a free search engine to assist you in locating unclaimed property held. Search the state's website for your name now.

Make your money work for you,
know your savings options!

As you budget and manage your finances, it is important to consider earnings and liquidity requirements for your savings. Many people plan to have three to six months of living expenses that can be accessed immediately in the event of an emergency. Although liquidity is important for emergency purposes, you may want to consider a different investment vehicle for your additional savings. Typically, you will find that if you are able to lock up some of your savings for a period of time, you can expect your financial institution to give you more interest than they pay on more liquid accounts like a savings or money market account.

A certificate of deposit, or CD, is a great way to save money and earn a higher interest rate than you would with most standard savings or money market accounts. It is important to keep in mind that CDs are not liquid; your funds will be unaccessible for a period of time, and if you cash out early penalties may apply.

CDs are time-based, fixed-income investments that are issued by financial institutions like credit unions and banks. Typically, you invest a fixed amount of money for a predetermined amount of time called the “term”. In return, you are guaranteed a fixed amount of interest added to your account periodically throughout the term. In most instances, interest payments may be withdrawn as they are posted to your account and early cash-out has interest and possible principal implications. When the term expires, your options are to cash out the CD and withdraw your funds or “roll over” the CD for another term and continue to lock in the funds and your earnings.

CDs can be purchased for terms of almost any duration although the most common are between three months and five years. Commonly, the longer you allow the institution to use your money, the higher your interest rate. When maintaining a balance between liquidity and earnings, staggering the terms and maturity dates of your CDs allows you to earn a higher rate by locking in your funds but also gives you flexibility since the funds become available at maturity. You may decide to move funds to a standard savings account so your funds remain available or into a tiered money market account where earning rates can increase based on the balance you carry in your account. In some cases, you may even receive an additional rate increase when you have other relationships with the financial institution. Check out First Citizens’ Relationship Rewards to learn about your relationship benefits.

Also, check to make sure your funds are protected by deposit insurance. Insurance for your deposited funds depend on your institution’s coverage and may vary from institution to institution. For example, First Citizens’ deposit accounts are covered by NCUA for up to $250,000 per individual owner and have additional coverage through MISC for up to $600,000. In situations where there is more than one owner of the account, collectively, joint owners may be entitled to up to 1.2 million in coverage depending on how their accounts are set up.  If you have specific questions regarding deposit insurance and coverage limits, a member service representative can discuss your specific situation to help you determine exactly what your coverage will be.

Understanding your savings options will help you make important decisions on what types of account best suit your needs and financial goals. Talk to someone about what your options are, and make sure you are getting the greatest returns for your money today!

 for info on savings / CDs

 to view our current rates and specials.

Start saving today!

  Most people know that saving money is important, but many think that it is too late to start saving  money or may not know how to save. It is never too late for a person to start saving. To solve the problem of not knowing how to save, this article discusses several ways that you can start today to build savings for emergencies or future necessities.

Add it to the budget

One great way to start saving money now is by adding "Savings" to a column in your budget. Just as you pay your mortgage or car payment each month, you should also pay yourself or your savings account each month too. You may decide to pay a specific amount each paycheck or pay a percentage of your yearly income to this account. As long as you are continually adding to your savings account it doesn't really matter how you do it. Before you know it the savings will be adding up! 

Energy efficiency

Also, save money by changing out the appliances in your home to energy efficient appliances. New household appliances such as washer and dryers, heaters, air conditioning units, water heaters, dishwasher, refrigerators, etc., can save families hundreds of dollars on their utility bills each year. If you are not in the position to purchase new appliances you can still do your part to save money on electricity and other utility bills. For example, unplugging appliances and other cords, even when the appliance is off can help you save money. Things such as toasters, cell phone chargers, and radios should be unplugged unless they are in use.


Coupons

Using coupons is a great way for a person or a family to save a lot of money, especially on grocery bills. You do not have to spend hours and hours looking at ads to save your family money. It just takes an hour or two each week to write a list of what you need to purchase for the week and then compare it to the coupons you receive in the mail, online or in their newspaper.

Look for coupons online for things you purchase all of the time or even for something you plan to just get once. There are more and more coupon sites that have links to the coupons that are available that week saving you time and money. Just search for the item you want to buy and you might find a coupon for it!

Every penny counts

Usually all the little ways people and families can save money, add up and end up going a long way. For example, keep your change in one place instead of leaving some in the car, in a purse, or in pockets, when you are using cash. That change will quickly add up!

Waiting

Waiting is a great way to save money too. A lot of people buy things too quickly, without really thinking about the purchase. Think about whether or not you really need the item and how you are spending hard earned money. Ask yourself; is this purchase really worth it?

Many times you will find waiting to purchase the item will result in you deciding that the purchase is not worth it.

Saving a little at a time is a good way to create habits that are easy to stick with. Put that money aside in a savings account you don't touch to avoid frivolous spending and make sure that cash is there for a rainy day!

Lastly, making sure you get the most out of your savings is important. You work hard for your money and it should be working hard for you. Take advantage of your banking relationship by asking questions and speak to a member service representative to be sure your money is in the account that is the best fit for your needs and goals.

 for info on savings / CDs

 to view our current rates and specials.

Saving Can Help You
Achieve Any Financial Goal

 Whether it is a comfortable retirement, a down payment for a house, or a new car or stereo, you can get there by setting money aside. Best of all, you can have what you want without getting bogged down in debt.
If you are like most people, you don’t save as much as you’d like to or you don’t save at all. On average, Americans spend more than we earn. However, it is never too late to start and the time is now. You will find that with a little forethought and effort, saving money is not only possible, it’s easy.

Make Saving a Priority

First, sit down and figure out what you’d like to save money for – retirement, a house, car, college, or dream vacation –and how much it will cost. You will be more likely to achieve your financial goals if you make savings a priority. Next, make your plan:
• Set a timeline for when you’d like to reach your goal.
• Set a schedule by dividing the total goal amount by the number of weeks, months or pay periods between now and your goal date.
• Be vigilant by treating your savings contribution just like any other must-pay expense, such as rent or groceries.

Find Money to Save

While it may seem difficult sometimes just to make ends meet, chances are you have extra money you didn’t even know about. Here are some ways to find it:

• Keep track of everything you spend for a week. You might be surprised what you’re buying, and what you can do without.
• Make purchases with cash. This can help you stick to a budget and avoid impulse purchases. Simply decide ahead of time how much you want to spend and then set aside that amount in cash before you go shopping.
• Lower your bills. Many creditors will give borrowers a lower interest rate if they’re asked. Also, conserving electricity and gas can make a big difference.
• Rank your nonessential expenses. Keep the ones you like the best and cut the items on the bottom of the list.
• Pack a lunch or cook more dinners at home. Eating out at restaurants can eat up a lot of money that could be saved.

Pay Yourself First

Most people are inclined to pay everyone else first; whether it be the landlord or your grocer or the electric company. It’s vital to start paying yourself first by saving money. Once you have made a contribution to your financial longevity and well-being, then you can divide up your money to cover everything else. Don’t worry; you will more than likely have plenty left over to cover everything you need.
In fact, most financial institutions have systems in place to make this easier for you. You can have them automatically transfer funds from your checking account to your savings account, money market, mutual fund and other accounts. Also, check with your employer. Many companies will deduct savings from paychecks if asked to make saving even that much more convenient for you.

To learn more about First Citizens’ savings options 

To check our current rates  

For more financial tips visit: practicalmoneyskills.com

Your 2011 Financial Checklist

20 Lazy Ways To Save Money

While the media can't decide if the recession is nearing its end or not, we do know that there hasn't been a tremendous surge in wages, job creation or the stock market. Consequently, most of us are staying pretty conservative on our spending. Here are a few relatively simple ways to keep an eye on your pennies while you're waiting for that brighter economic future to arrive.

1. Schedule automatic payments. Have (at least) your fixed monthly bills paid automatically to avoid missing a payment and having to fork over extra money for late fees and/or interest. You can set up auto pay features through your bank's online bill paying service or by arranging it directly with the company or service provider. (Automation can be a painless and free way to remove the stress of bill scheduling from your life - if you do it right.

2. Eat your groceries. Did you know that Americans regularly throw away nearly 15% of the food they buy at the grocery store each year? That can add up to hundreds or, depending on your supermarket budget, thousands of dollars each year. Save money by actually eating what you buy. Not sure how? Bypass the bookstore and borrow a cookbook from the library!

3. Bundle services. If you're paying different vendors for similar services you may be overpaying. Call your communications providers to see what price you'll be quoted if you switch and bundle your internet, phone and cable TV services.

4. Pay off credit card. If you're not paying off your credit card balance each month you're paying interest and, for most Americans, it's a pretty steep rate. Pay it off and you could save a tidy sum by eliminating your interest charges. (Managing your debt could mean the difference between spending $45,000 or saving $184,000.

5. Mark your calendar. Whenever you rent something - library books, videos, etc. – mark it on your calendar and save money by avoiding those quickly mounting late fees. Many stores and libraries also now offer email reminders to help the constantly harried so sign up for the extra help!

6. File your taxes on time. Or if you need to file an extension at least pay what you owe on the due date. You'll avoid annoying notices from the IRS and, more importantly, save on penalties, fees and interest.

7. Roll it over. If you're switching jobs and you can't leave your 401(k) invested with your current company, roll your 401(k) into either your new employer's 401(k) or an IRA within the 60-day window instead of withdrawing the money. By doing so you'll keep the money invested -  and earning interest - and avoid those nasty taxes as well as the additional 10% penalty.

8. Switch credit cards. If you're carrying a balance on a high interest rate credit card check out other card issuers to see if you could transfer your balance to one with a lower interest rate and fewer fees. Use sites like Creditcard.com or Bankrate.com to compare card rates, and pay careful attention to how long those terms last so you don't wind up paying a higher rate and erasing any potential savings.

9. Use your privileges. Are you an AAA member? Do you belong to the AARP? What about your local credit union? Check organizations you have memberships with to see if they offer buying privileges or discounts.

10. Rent instead of buy. You might be excited to expand your driveway but don't let your enthusiasm overtake good sense. Hold off on buying that jackhammer and think before you spend on big-ticket items or items that you'll use once or infrequently (like movies and books).

11. Buy instead of rent.  Don't pay the exorbitantly high prices charged by rent-a-center type stores for items you'll use regularly and keep long-term like computers, furniture and appliances. 

12. Ask. That's right, just ask. You can't be paying any more than you currently are, so why not ask if you can get the interest rate lowered on your credit cards or loans? Also, ask for a discount on services like your wireless phone, trash removal or pet care instead of switching to another vendor, and of course ask "is that the best you can do" on any big ticket purchases like cars, appliances and furniture. In a tight economy it might be worth the seller's while to cut the price instead of losing the sale, and you'll both benefit in the end!

13. Just say no. To the extended warranty that is. They hardly ever make financial sense. Weigh the repair or replacement cost (and if you would even need or want to repair or replace it down the road) against the cost of the warranty and graciously pass when offered. 

14. Have the awkward conversation. Americans average more than $750 yearly on holiday gifts and that's probably much more than most would like to spend. If your gift-giving is costing you more than you can realistically afford there's a good chance it’s more than your relatives can afford (or would like to spend) as well. Take the plunge and broach the subject. Offer a more reasonable alternative (say, limit giving to children or put a dollar amount on gifts per person). More than likely your relatives will be grateful SOMEONE finally raised the subject and you’ll save money in the process.

15. Eat at home.  If the idea of cooking for yourself seems like too much work at least opt for take-out instead of dining out - you'll save on the tip, the alcohol and most likely the cost for appetizers or dessert.

16. Balance your checkbook. It might take a few minutes but it's something you should be doing anyway and it can pay off huge dividends by helping you avoid bouncing a check and incurring steep overdraft fees (not to mention a little embarrassment)!

17. Stick with your bank. When withdrawing cash drive or walk the extra minute it takes to use your bank's ATM and avoid the fee that could come with another bank's machine. Better yet - switch to a bank that doesn't charge fees!

18. Use your TV. If you're paying for cable why not use all of it - and save some money in the process? Cancel the video membership and watch movies through cable movie packages you're already paying for or check out your free "on demand" shows. Drop the gym membership and work out at home to channels like FitTV, and bag the magazine subscriptions and watch the same shows (like Martha Stewart) on TV instead.

19. Quit those bad habits.  Smoking, overeating and drinking are costly habits to maintain. Okay - this is the "lazy" way to save, not necessarily the easy way. But you can save boatloads of money in two ways by saying sayonara to your favorite vices: (1) You'll save money by cutting out on the regular spending it's costing you, and (2) you'll probably save on insurance premiums and long-term health costs. It's the ultimate win-win.

20. Forget the pet.  Sure it sounds heartless but did you realize that welcoming home a little Fido can cost you an average of more than $1,500 a year - or $15,000 over 10 years? Feline fluffies are pricey too - just under $1,000 a year or approximately $9,000 for 10 years of care. Looking at the long-term picture, that's a new car or the down payment on a home! Keep walking right past that pet store and keep the money in your pocket instead.

The recession won't last forever, but in the meantime take advantage of these lazy ways to stay on track financially, and develop some pretty good money management habits for the future!

We have had an extremely successful year especially considering the economic environment we have been operating in since late 2008. Our assets have grown by over 7%, our loans have grown by almost 12% and our deposits have increased by over 6%.

We achieved a significant milestone in the middle of the year when we crossed the $500 million dollar asset threshold. Although I do not measure our success and value to you solely on our size this is a testament that we are continuing to meet the growing demands and needs of our members by providing the quality products and services that you have come to expect from us for almost 75 years.

We certainly were on the move in 2010 taking advantage of market opportunities to expand our footprint and bringing our brand of banking to more of the communities we serve.  We relocated our Taunton branch in May to provide a full service branch experience as we had simply outgrown the space in Shaw’s Supermarket. We opened our 9th branch office in September in Mattapoisett, establishing the only local community institution in the Tri-Town area. We purchased a parcel of land in Mashpee in November and have begun the construction of our new Mashpee branch planned for spring of 2011 further strengthening our presence and commitment on Cape Cod.

While we have grown in both asset size and branch locations, I am pleased to report to you that we have done this while growing our capital to 9.53% which is well above the “well capitalized” classification set by NCUA. You can continue to be confident in knowing that your credit union is strong and growing and that your hard earned savings continue to be safe and secure.

We all heard throughout the year about financial institutions making credit nearly impossible to obtain as the financial industry recovered from its reckless ways. Well that was not here at First Citizens’. I told you we were in a strong financial position at the start of 2010 and I pledged to you that we would continue to meet the needs of our communities and be here for you when you need us and we certainly were.  Despite economic conditions, we took in and underwrote over 882 mortgage applications and closed over $59 million dollars in residential first and second mortgages. In addition we made almost 11,000 Consumer Loans totaling more than $180 million dollars. 

In 2010 we took our sociability to the web and launched our Facebook page. This is not your typical business Facebook page. It is truly a space for our “friends”. We have dedicated this space to communicating with members and friends, a place to interact, engage, find useful information and certainly have some fun with our many events and activities. Have you become a “friend” yet? Are you spreading the word? Although this remains in its early stages we recognize the need to have a viable social communications program to help us better serve and communicate with our members and friends.

We made enhancements to our systems on many levels last year to ensure we are providing the best solutions possible. We upgraded our Retail Internet Banking platform to provide for a better user experience. We installed a state of the art Fraud Manager software program which enables us to improve monitoring transactions across all applications to have even greater capability to detect and protect members from fraud. We have started many new initiatives already that are planned for 2011 to provide even greater access, communication and management of your financial matters. We are committed to these goals and we will continue to look to offer effective solutions to allow you the best banking experience possible, whether in your local branch, online or on your phone.

As I mentioned earlier, since late 2008 we have experienced the worst economic environment ever and yet First Citizens’ has continued to grow and be a top performing institution.  And it is with the backdrop of this environment that I sometimes find myself so conflicted. Why us? More importantly how do we continue with this success?

Why us? Well, I can answer this with absolute certainty. The most important factor in any company’s success is the commitment and dedication of its employees, and at First Citizens’ we are no different. We offer great products and services, but what I am most proud of is the team of employees that we have. They truly set us apart and have made us the successful company we are today. It is their passion and joy for what they do that is the special ingredient in our recipe for success. It continues to be my honor to lead such a talented and committed team.

How do we continue to be successful? Well, I believe, the answer lies in our history. We must remain fiscally strong and consumer relevant never forgetting the privilege and responsibility we have in helping you achieve your financial goals. We will continue to manage the interests of this credit union in the most fiscally responsible manner possible ensuring our continued financial strength. We will remain focused on how we can continue to assist and service the members that seek our help – whether it’s to buy a new home or refinance their existing mortgage, buying a dependable car, getting a loan to send a child to college, saving for retirement or setting up an automatic savings plan to safely put money away for a daughter’s wedding.  We are and will continue to be here for you as we work to be the best financial institution we can be.

I thank our Board of Directors, our Supervisory Committee Members, my Management Team, our Staff and of course you our Members for the success we have achieved this year and for the continued brightness of our future.

Thank you….

Sincerely,

Peter J. Muise
President  & CEO
First Citizens’ Federal Credit Union

Keeping Your Cool

We can take a quick breather now that the warmer weather has arrived. Right now you may be feeling relief from the soaring cost of heating your home so enjoy it while it lasts, because your cooling tab could soon have you breaking a sweat.

Air conditioning accounts for nearly 60% of Americans' summer electric bills and puts the greatest strain on the electric grid. These simple adjustments and smart improvements can help you ease the stress on your home energy budget.

Act cooler

With the busy life you lead and the number of financial transactions you make on a daily basis, you probably don’t stop too often to think about the safety and security of the information you are providing. This is why it is important for you, as an individual and a consumer, to stay educated as well as informed.

Did you know that identity theft is one of the most pervasive types of criminal activity in this day and age? The good news is that you have the power to reduce your risk of becoming a victim.

Take the time to keep up-to-date on the various ways your personal information could be obtained and take the necessary, recommended steps to protect yourself. Here are some of the most important things you need to know…

How does an ID thief get your information?

There are a few different ways criminals will attempt to obtain your information such as:

“Dumpster diving” - when a criminal rummages through trash looking for bills or other papers with your personal information on it.

“Phishing/pharming,” - when a criminal pretends to be a financial institution or company and sends spam e-mail, pop-up messages or directs you to a false web-link to get you to reveal your personal information.

“Pretexting”- is the use of false pretenses to obtain your personal information from telephone companies, cable companies and other related sources.

Then, of course, there is traditional theft. A criminal will steal wallets, purses, mail-including bank and credit card statements-, tax information and so forth.

How do you protect your personal information from this type of crime?

The answer is simple. Just form some new habits. Here are some preliminary steps to help you protect your personal information:

Step 1- Shred all of your important papers, especially pre-approved credit applications received in your name and other financial documents that provide access to your private information.

 If you do not have a shredder make sure that any documents you trash have your personal information blacked out with a black marker.

Step 2-If you are online be sure to verify any link that seems suspicious. When making purchases online be sure to check that the address begins with https:// or that the page is backed by a valid web security company.

Step 3- Avoid mailing checks from your home mailbox. Drop them off at a U.S. Mailbox or the U.S. Post Office.

If you do not already bank online, try switching to Online Banking. With online banking you avoid receiving paper statements, and reduce the need to write checks through Bill Pay. This switch will help reduce the risk of these items being obtained through your mail.

Step 4- Empty your wallet of all extra credit cards and social security numbers, etc. Do not carry any identifiers you don’t need. Don't carry your birth certificate, social security card, or passport, unless necessary.

Step 5- Check your credit report regularly for a complete picture of your overall credit health and help you to identify critical errors in your personal financial data.

First Citizens’ members are eligible for IdentitySecure. With IdentitySecure you can receive up-to-date credit reports and scores up to 3 times per year from all three major credit reporting agencies—Experian, Equifax and TransUnion. This service also provides daily credit monitoring and alerts which helps you prevent fraud through early detection.

Step 6- Be proactive and do some research. Browse the web on a semi-regular basis, subscribe to financial RSS feeds, such as First Citizens’ Security & Fraud Alerts, and stay informed about new scams and fraudulent activity. This way you will always be prepared.

What do you do if your identity is stolen?

If you see anything that appears fraudulent, immediately inform your financial institution and credit card companies. Place a fraud alert on your credit reports, and review them in depth.

Contact the toll-free fraud number of any of the three consumer reporting companies below to place a fraud alert on your credit report. You only need to contact one of the three companies to place an alert.

The company you call is required to contact the other two, which will place an alert on their versions of your report, too. If you do not receive a confirmation from a company, you should contact that company directly to place a fraud alert.

TransUnion: 1-800-680-7289; www.transunion.com; Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92834-6790

Equifax: 1-800-525-6285; www.equifax.com; P.O. Box 740241, Atlanta, GA 30374-0241

Experian: 1-888-EXPERIAN (397-3742); www.experian.com; P.O. Box 9554, Allen, TX 75013

In the end these few simple steps could save you a lot of time, money and stress. Don’t sit back and let yourself become a victim. The safety & security of your identity is in your hands, and you have the power to protect it.

Other Resources:

Visit our online Education Center: http://www.onlinebanktours.com/oec/?b=261&c=3898

Federal Trade Commission: http://www.ftc.gov/bcp/edu/microsites/idtheft/tools.html