7/31/2019 Connections, June 2012 Newsletter
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Creating value or you by taking prudentconservative risks
Iy
letter from the president
Alliant Board o Directors
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David W. Mooney
President/CEO
Marc KrohnChairperson
Scott PravenVice Chairperson
David W. MooneyPresident & Treasurer
Ted DavidsonSecretary
John Gebo
Irwin I. Gzesh
Shirley Jones
David Leib
Alex Marren
Anne Pease
Ed Rogowski
6 dollars for young scholars
ofceclosingsAlliantmain ofcesand
ServiceCenterswillbeclosedinobservanceotheollowingholidays:
IndependenceDay Wednesday,July4, 2012
LaborDayMonday,September3, 2012
convenient24/7/365accountaccess
Onlinebankingatwww.alliantcreditunion.org
Mobilebankingappfor iPhoneandAndroid
SelfServiceTelephoneat800-482-5328
MemberContactCenterat 800-328-1935
Over80 ,000surcharge-free ATMs
AlliantMemberContactCenter800-328-193524/7personal service
tdd/tty773-462-2300
SelServiceTelephone(SST)800-482-532824/7automated
accountaccess
VISA DebitCardLost/Stolen:800-328-1935
VISA CreditCardsTospeaktoanAlliantRepresentative800-328-1935,
x2302MonFri,7am5pmCTAfterHours:866-444-8529Lost/Stolen:866-444-8529
VISA GitCardPurchase:800-328-1935 SupportCenter:
866-466-2362
MortgageHotline800-328-1935 Pressoption5,
thenoption1MonFri,8am5pm CT
Auto/HomeInsurance888-380-9287 MonFri,6am10pm CTSat,6am8pmCT
GreenPath Debt Solutions877-337-3399MonThu, 7am9pm CTFri, 7am6pm
CTSat, 8am5pm CT
2012 2011
$7,926,044,011 $7,326,688,655
$3,325,960,272 $3,408,984,249
$7,077,736,995 $6,500,075,154
$796,807,789 $749,625,438
2 74 ,6 16 2 81, 76 8
MAY
Net Assets
TotalLoans
TotalDeposits
TotalReserves
TotalPrimary
Members
fnancial update Alliant rate board
EFFECTIVE JULY 1, 2012
Deposits(% as high as) Rate APY*Savings 0.797 0.80
High Rate Checking 0 .747 0.75
Certicates 1.638 1.65Health Savings (HSA) 1.243 1.25
AS OF JUNE 21 , 2012Loan Rates
(% as low as) Rate APR*New Vehicle 1.99
Used Vehicle 1.995/1 ARM 2.500 3.293
7/1 ARM 2.750 3.28130 Yr xed mortgage 3.87 5
3.936*APY=AnnualPercentageYield.APR=AnnualPercentageRateCertifcateratesas
oJune21, 2012
IMPORTANT:Rates mayhave changedsincethis newsletter
waspublished.Visit www.alliantcreditunion.org orcall
800-328-1935 orcurrentrates.
Dividendsaresubjecttochangemonthly.
Loanapproval,APRanddownpaymentrequiredbasedoncreditworthiness,collateral,paymentmethodandabilityto
repay.Rates,termsandconditionssubjecttochange.Otherrequirementsapply.Seeour
websiteortalkto aMemberServiceRepresentativeordetails.
Thisnewsletterisor
memberspersonaluseonly.Reproducingand/orsellingthecontentsothis
newsletterwithoutpriorwrittenpermissionrom Alliant
CreditUnionisprohibited.CopyrightAlliant.
ArticlesarepreparedasaneducationalserviceorAlliantmembers.Theyshould
notbereliedon asasubstituteorindividualfnancialor
legalresearch.Articlesinthis newsletterarenotintendedto
beused(andmay notbereliedon) orpenaltyavoidance.
NEW261-R06/12
Alliant headquarters
11545 W. Touhy Avenue, Chicago, IL 60666
PO Box 66945 Chicago, IL 60666-0945
www.alliantcreditunion.org
AlliantRetirementandInvestmentServicesFinancial Advisors are
available
to serve members in all states.Call 800-328-19 35, option 9.
Deposits/PaymentsPO Box 2387Des Plaines, IL 60017-2387
Credit Card PaymentsPO Box 1666Des Plaines, IL 60017-1666
AllOtherCorrespondenceincludingIRAandHSA
depositsPOBox66945Chicago,IL 60666-0945Formoreinormationvisit:
www.alliantcreditunion.org.
www.alliantcreditunion.org th
ccontents
It pays to use Alliants online BillPay: you could win $1,000,
$500or $250
Alliant goes commercial as incommercial lending
Minnie, Alliants four-legged friend
Five questions about Long-TermCare insurance
It pays to be a member o Alliant $265 a year (or more)
Now you can deposit your checksto Alliant with your
smartphone
Secure your fnancial uture withMEMBERS CHOICE Protection
Letter rom the President
Heres a chance or students towin a computer git card
NEW
The big story in nancial news last month was JP Morgan
Chases (JPM) announcement that the bank had sustained a jaw
dropping $2 billion-to-$3 billion trading loss on
investments
in complex credit derivatives. Im not going to engage in
nger
wagging theres been plenty o that and Ill leave it to others
to sort out whether the transactions were legitimate hedges
or
speculative bets, whether any laws or regulations were
violated
and i greater restrictions should now be imposed on bank
activities. Yes, $2 billion is a lot o money and JPMs
sharehold-
ers took it on the chin. However, the loss represents a
relatively
small raction o the banks balance sheet and capital, and
will
not imperil its health.
The greater signicance o JPMs trading debacle is that it serves
as a reminder that
risk is ever present and that risk managers, nancial models and
risk management
practices are not inallible. Its yet another example (think MF
Global, AIG, UBS,
Citigroup, Lehman Brothers, Amaranth and Long-Term Capital
Management)
that even smart people can in JP Morgan Chase CEO Jamie Dimons
words
do stupid things.
Alliant, like other nancial institutions, creates value by
taking risk. No bank or
credit union can eliminate all risk and still serve its
shareholders or members. The
key is to do this i n a prudent, inormed and controlled
wayalways mindul o
human limitations, such as incomplete knowledge, errors in
judgment and the
glitch actor in nancial models.
At Alliant, we intentionally maintain a very conservative risk
prole. (I know -
thats what they all say, but in our case we do walk our talk.)
Our risk aversion
is directly related to our mission to provide you and all
Alliant members with
consistently superior nancial value in the orm o high deposit
rates, below-market
loan rates and low ees. More risk translates to higher
volatility o nancial results,
which would undermine the consistency o Alliants giveback to
members.
Additionally, our extremely low operating costs enable us to
earn strong returns
without stretching or income something others, at their peril,
are doing in this
low rate environment.
Unortunately, or customers and shareholders o many banks,
memories seem
to be short when it comes to the hard lessons o risk
management.
1 AacclistagemelineUnonein fbe atAwhwinewrantoAtestheedCo
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Heres a chance or students to wina computer git card
Alliant is pleased to announce our eighth annual
NationalEducation Program for students between the ages of 5 and
17.We will award nine computer git certifcates (three in each
age category) ranging rom $250to$1,000.
The age categories are 5 to 9, 10 to 13, and 14 to 17.
TO APPLY,applicants may use any media (such as an essay,drawing,
video, PowerPoint or photograph) to describe what
they want to be when they grow up and how a computer canenrich
their education.
TO QUALIFY, applicants must have an Alliant savings accountin
their own name.
DEADLINE FOR APPLICATIONS: AUGUST 24, 2012
Visit our website, www.alliantcreditunion.org, or complete
details, eligibility and to obtain an application.
DIVIDEND
July Savings Dividend
DECLAREDJUNE21, 2012
TheJuly 2012 Savingsand IRA dividend,declared
06/21/12,providesa Compounded
AnnualPercentageYieldo
0.80%APY
Dividendsarepaid onthe
lastdayo themonthto
accountholderswho have
maintainedanaveragedaily
balanceo $100or more.
Savingsdividendissubjectto
changemonthly.
July Checking Dividend
DECLAREDJUNE21, 2012
TheJuly 2012 High RateChecking
dividend,declared06/21/12,providesa Compounded
AnnualPercentageYieldo
0.75%APYCheckingdividendsarepaidon
thelastdayo eachmonthto
accountholderswhomeetthe
requirementsotheaccount.
Checkingdividendis subjectto
changemonthly.
7/31/2019 Connections, June 2012 Newsletter
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2 a new loan source for investorsand business owners
Alliant goes commercial as in commercial lending
www.alliantcreditunion.org
This spring, Alliant expanded its loan
portolio to include commercial mort-gages to help investors and
businessowners acquire or renance commercialreal estate within the
continentalUnited States.
The types o properties Alliant providesnancing or include
multi-amily rentalproperties, apartment buildings,
retailproperties, oce buildings, industrialbuildings and special
purpose buildings,such as assisted living centers, restaurantsand
hotels. Individual loan amounts arein the $1 million to $10 million
rangewith a 75% loan-to-value maximum ormost property types (or an
80% loan-to-value possible in some cases).
Alliant has signicant lending capacityand will be quite
competitive on ratesand terms, along with providing
superiorpersonal service and consultation, saysMark Trevor,
Alliants new vice presidento commercial lending, who brings
morethan 25 years o industry experience tothe job.
Alliant introduced commercial lending
to provide new lending services tomembers, as well as to provide
a higheryielding investment alternative that willhelp Alliant
maintain its industry leadingmember giveback.
I you or someone you know is interestedin a commercial mortgage
loan, call:Mark Trevor: 800-328-1935, ext. 8666email:
[email protected].
Minnie, Alliants our-legged riend
When Karen Nelson visits the
branch at Alliant headquarters to
make a transaction, she doesnt go
alone. Tucked in her hand bag is the
companion who travels with her on
most o her errands Minnie, an
eight-year-old Teacup Yorkie.
Minnie especially loves to visit Alliant,
Karen says. When I say Alliant Credit
Union, she turns her head and really
perks up. One o the reasons is that she
loves to see her good riend, Senior
Receptionist Maggie Tredota.
Karen works as an emergency proce -
dure instructor or United Airlines at
Chicagos OHare International Airport
and has been an Alliant member or
more than 30 years.
Minnie(center),arequentAlliantbranchvisitor,isneveraskedher
membernumber.Thisadorabledogtravelsinthe
purseoherowner,memberKarenNelson(let).MemberBeneftSpecialistIngridTroncoso(right)takescareoKarenstransaction.
1. What is Long-Term Care (LTC)?LTC reers to the ongoing
services andsupport needed by people with chronichealth conditions
or disabilities. Themost common type o LTC is home-based care, but
these services may alsobe provided in assisted living
acilities,adult day care centers and nursinghomes. There are three
levels o LTC: Skilled care:
Generally round-the-clock care given by proessionalhealth care
providers, such as nurses,therapists or aides under
doctorsupervision.
Intermediate care: Given by proes-sional health care providers,
but on aless requent basis than skilled care.
Custodial care: Personal care otengiven by amily caregivers,
nursesaides or home health workers whoprovide assistance with
activities odaily living, such as bathing, eatingand dressing.
2. Why is it important to plan for LTC?No one wants to need
Long-Term Care,but its important to plan or it.Heres why:
The odds o needing Long-TermCare are high. Approximately 40%o
people will need some LTC aterreaching age 65.* Younger peoplemay
need LTC, too, as a result oan accident or illness. The cost
oLong-Term Care is rising. Currently,the average nursing home stay
is
$74,820* per year. I costs rise at just3% a year, in 20 years a
nursing homestay will cost $135,133 per year.
3. Doesnt Medicare pay for LTC?Medicare provides only limited
coverageor LTC services, such as skilled nursingcare or physical
therapy. It doesnt covercustodial care, the type o care
olderindividuals most oten need.
4. Cant I pay for care out of pocket?Using your income, savings,
investmentsand assets to pay or LTC gives yousome control over
where and how youreceive care. But since the cost o LTCis steep,
you may be unable to pay orextended care i you need it.
5. Should I buy LTC? LTC insurancecan help you preserve your
assets andmake sure that youll have access to arange o care
options. The cost dependsprimarily on your age and health
(ingeneral, the younger you are whenyou purchase a policy, the
lower yourpremium), and the key eatures youchoose, including: Daily
benet amount The length o time your policy will
pay benets The number o days you must pay
or your own care beore the policybegins paying benets
Types o acilities included Infation protection
3 take care of yourself for the long term 4 fo
Five questions about Long-TermCare insurance
Presented by
Alliant Retirement
and Investment
Services Advisors
Thomas Brunz,
Shaun Floresca,
Nicholas Hamilton,
Matt McMillon,Alexandra Mendoza,
George Pantazis,
Giacomo Parente,
CFP* and
Terence Powell
It
ThThbehoUnacby
Thaclittthhodu
In wpryoM
MorYocow
On
Toditsp
S
M
Representative is neither a tax advisor nor attorney. For
inormation regarding your specifc tax situation,please consult a
tax proessional. For legal questions, including a discussion about
estate planning, pleaseconsult your attorney.
CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a
registered broker/dealer and investmentadvisor, 2000 Heritage Way,
Waverly, Iowa 50677, toll-free (866) 512-6109. Non-deposit
investment productsand insurance products are not ederally insured,
involve investment risk, may lose value and are notobligations o or
guaranteed by the fnancial institution. CBSI is under contract with
the fnancial institution,
through the fnancial services program, to make securities
available to members. *CFP=Certifed FinancialPlanner. The CFP
certication is not afliated with CBSI. FR051211-E4D2
Want to explore your LTC options and discuss your long-
term fnancial plan? Visit www.alliantcreditunion.org or call
800-328-1935, option 9 to set up a no-cost, no-obligation
fnancial planning session.
RETIREMENT AND
INVESTMENT SERVICES
*NationalClearinghousefor
Long-TermCareInformation,U.S.Departmento Healthand
HumanServices,2011
N
toM
anocoba
