A Publication of Beach Municipal Federal Credit Union

SpotlightSpotlight51035-Q3nl-0911Fall 2011

International Credit Union Week – October 17th – 22ndAt some point, you’ve probably wondered what the difference is between credit unions and other financial institutions. In reality, many differences exist, but the short of it is this: credit unions exist to help people, not to make a profit. That difference resulted in Beach Municipal FCU being established as a financial cooperative rather than a bank. Although we don’t sell groceries or farming supplies or electricity, we share the same principles as other cooperatives. At a cooperative, you’re a member owner, not a customer.

As financial cooperatives, credit unions are much more than money lenders and holders. Like all cooperatives, we stand for the power of people helping people. Credit unions are prime examples of how the cooperative spirit transforms individuals and advances communities, the first steps toward building a better world.

Join us for this year’s International Credit Union Week and Help Beach Municipal FCU Build a Better World ~ One Book at a Time.

Virginia Beach Public Library is busier than ever – yet their budget is shrinking. Last year, their books and materials budget was reduced by more than $100,000, and they need our help to restock the shelves.

The Friends of the Virginia Beach Public Library will generously match every dollar donated, up to $50,000. That’s $100,000 in new materials!

Beach Municipal FCU has partnered with the Library to help them reach their goal.

Recently, the Credit Union installed coin machines in the Thalia and Marketplace branches. The machines count your coins which you can deposit into your account or get cash back. Best of all, the coin machines take loose change, meaning you’ll never have to sort, count or roll your change ever again!

There is a nominal fee for using the coin machines, which the Credit Union will donate to the Library. PLUS ~ Beach Municipal FCU will match all fees raised through the coin counters!

So, help us help Virginia Beach Public Library by bringing us your loose change!

Coin Machine Fee NoticeEffective immediately, a fee of 2% of coin deposit for members and 4% of coin deposit for guest members will be charged. Long John Saver Kids Club and Pipeline accounts are exempt. Please note, foreign or damaged coins will not be counted and may not be returned.

A Publication of Beach Municipal Federal Credit Union

Member savings not available at park’s front gate. Savings available through Oct. 30. See Beach Municipal for details. Prices, products and park schedule are subject to change. ©2011 SeaWorld Parks & Entertainment, Inc. All rights reserved.

SEPT. 23 - OCT. 30EvEry Fri., SaT. and Sun.

TiCkET and PaSS SavingS availablE

aT yOur lOCalbEaCh MuniCiPal

Beware of the Dark Sideof the Gardens.

D o r m a n t a c c o u n t P o l i c y The Credit Union has established a policy for dormant accounts. Dormant accounts are defined as accounts that have had no activity on any of the associated accounts (share draft, club, money market, or IRA) and no loan account activity for a period of 12 months or more. Deposits of dividends are not considered account activity.

After one year of inactivity, a quarterly fee of $5 or the account balance, whichever is less, will be charged against the account with combined balances under $50. At the time the account balance equals $0, the account will be closed. Dormant fees will be charged beginning December 01, 2011.

To avoid the dormant account fee, simply perform a member generated transaction on your Beach Municipal FCU deposit account. A member generated transaction includes:

Our Long John Saver Kids Club and Pipeline accounts are excluded from the dormant account fee.

We value your membership at Beach Municipal FCU and hope you do too. To make the most of your membership, and avoid a dormant account fee, be sure to keep your account active. Should you have any questions, please do not hesitate to contact a Member Services Coordinator at 757.333.7787.

As always, we thank you for your membership and the opportunity to serve you.

Has Your Address Changed?Did you know that changing your address with the Post Office does not update your information at the Credit Union? To help ensure your account information is protected, we can only send mail to the address we have on file. If you need to update your information, change of address requests can be completed by:

• Logging on to your Virtual Branch Home Banking account and using the “Contact Us” tab to send us your new information.

• Filling out a Change of Address form, which is available on our website. Completed forms may be mailed or returned to any branch location.

• Stopping by our Thalia or Marketplace branch and filling out an address change card.

If your phone numbers or email addresses have changed, please let us know that too!

• Cash or check deposits and withdrawals• ATM or Debit Card transactions• Home Banking or PAT transactions

• ACH (Automated Clearing House) transactions• Confirming your current address in writing

Busch Gardens’ Howl-O-Scream is rising to a whole new horrifying level in honor of its 13th anniversary. Brave guests who dare to enter better beware. Howl-O-Scream features new bone-chilling scare zones, terrifying shows and gruesome creatures lurking around the

park. The park’s younger guests will be treated to Halloween happenings with their favorite characters at Sesame Street Forest of Fun.

Discounted tickets available for $49.99 (adults)

$39.99 (children)

Beach Municipal Federal Credit Union will be closed in observance of

the following holidays:

COlUMBUs DAY Monday, October 10

VeTerAns DAY Friday, November 11

THAnksgiVing DAY Thursday, November 24

CHrisTMAs Monday, December 26

neW YeAr’s Monday, January 2, 2012

Holiday Closings

Make Your Vote Count!As a member of Beach Municipal, your vote is what makes you an equal partner in guiding and directing your Credit Union. The following details the election process and provides information regarding the Annual Meeting. All members are invited to attend, so please mark your calendars and join us. We hope to see you there!

2011 Board of Directors E lect ion & Annual Meet ing1. The Nominating Committee has submitted nominations for two (2) seats for the Board of Directors. Nominations for

vacancies may also be made by any member at least eighteen (18) years of age filing a written Petition containing signatures of at least 122 members (one (1) percent of membership), a statement of qualifications and a signed statement agreeing to serve if elected with the Vice Chairman of the Board of Directors, Bill Meador, no later than 5pm, October 31, 2011.

2. When there is only one nominee for each position to be filled, the election will not be conducted by ballot and there will be no nominations from the floor. If sufficient nominations are made by the nominating committee or by petition to provide more than one nominee for any position, ballots will be distributed to all members eligible to vote. To be eligible, members must be at least sixteen (16) years of age.

3. Election to the Board of Directors shall be determined by plurality of vote. Voting will be conducted by ballot box.

4. Ballots, if necessary, may be cast from 9am, Monday, November 17, 2011 until 5pm, Tuesday, November 22, 2011.

5. Eligible members may also vote at the Annual Meeting if they have not previously cast a ballot. Nominations from the floor are not permitted at the Annual Meeting.

6. The Election results will be announced during the 2011 Annual Meeting.

7. The 2011 Annual Meeting will be held at 6pm, Wednesday, November 30, 2011, at the Thalia Branch office located at 4164 Virginia Beach Blvd.

nominating Committee Members: Leigh Kovacs, Patti Porter and Charity Stone Terms expiring: Kathryn (Kitty) B. Hill, Lois M. Dalton Ritger nominations Made by the Committee: Kathryn (Kitty) B. Hill (incumbent) and Lois M. Dalton Ritger (incumbent)

BEACH MUNICIPAL FEDERAL CREDIT UNION BOARD OF DIRECTORS

2011 Elect ion Qual i f icat ions And Biographical Informat ion

Kathryn (Ki t ty) B. Hi l l Ms. Hill retired from the Virginia Beach Department of Human Services after 33 years of service. Prior to that, she worked as a Counselor at what was then called Child and Family Services of South Hampton Roads. Ms. Hill has also served as the Chief Supervisor and at one time Acting Director of the Virginia Beach Dept. of Social Services, was Chair of the Social Work Advisory Board for Norfolk State University, has been a member of and Chair of an Allocation Panel for the United Way of South Hampton Roads and was President of the Virginia State Chapter of the National Association of Social Work. Ms. Hill, who earned a B.S. degree from Hampton University and a Masters in Social Work from Clark Atlanta University, has been a member of the Credit Union since 1972 and a member of the Board since 2005.

Lois M. Dalton Ri tgerMs. Ritger has been a member of Beach Municipal Federal Credit Union since 1976 and a member of the Board of Directors since 2005. In addition to her employment as a Records Management Specialist, she serves for the Virginia Association of Government Archivists and Record Administrators (VAGARA). She is very involved with her church and as a long-term member of the Kempsville High School’s Class of 1973 Reunion Committee.

Give the Gift that’s Always Right VISA gift cards make the perfect gift for the holidays.- ONE, you don’t have to endure the traffic or the shopping

crowds,

- TWO, you know your gift will be perfect ~ always the right color, right size, right style, right choice, and

- THREE, VISA Gift Cards are safer than cash because if the card is lost or stolen, the unused portion can be replaced.*

Visa Gift Cards may be purchased for a small fee of $2.50 at the Courthouse Marketplace and Thalia branches. To learn more about prepaid VISA Gift Cards, please visit our website.

Give the perfect gift every time… give Visa Gift Cards this holiday season or for any occasion!

*Nominal fee may apply.

L O C A T I O N SThalia Branch

4164 Virginia Beach Blvd.Virginia Beach, VA 23452

lOBBY HOUrs Mon. - Thurs. 9am - 5pm

Fri. & City Paydays 9am - 5:30pm Sat. 9am - 1pm

DriVe-THrU HOUrs Mon. - Fri. 8:30am - 5:30pm

Courthouse Marketplace Branch2476 Nimmo Parkway, Suite 122

Virginia Beach, VA 23456

lOBBY HOUrs Mon. - Fri. 9am - 5:30pm

Sat. 9am - 1pm

Mortgage lending servicesDriVe-THrU & ATM

2501 Courthouse DriveVirginia Beach, VA 23456

MOrTgAge DepArTMenT HOUrsMon. - Fri. 9am - 5pm

DriVe-THrU HOUrs Mon. - Fri. 8:30am - 5:30pm

WeB beachmunicipal.org

iMpOrTAnT pHOne nUMBersMain: 757.333.7787

Main Fax: 757.333.7868

p.A.T. (phone Audio Teller)1.800.391.9007

BOArD OF DireCTOrsNianza Wallace

ChairmanBill Meador

Vice ChairmanLois RitgerSecretary

Robert W. HallTreasurer

Joelle TalbotBoard Member

Kathryn (Kitty) Hill Board MemberCharity StoneBoard Member

sUperVisOrY COMMiTTeesupervisorycomm@beachmunicipal.org

P.O. Box 9213 Virginia Beach, VA 23450

Chairman, Sharon Prescott Member, Becky Taylor-Schmidt

Member, Talmadge Piland

CHieF eXeCUTiVe OFFiCer Geri Metzger

Federally Insured by NCUA

© C

UA

dvantage.com • 877.799.0784

Be a smart borrower by getting a handle on your debt, paying your bills on time, and monitoring your credit report and credit risk scores.

Get a handle on your debt. Financial experts generally recommend that you keep your consumer loan payments below 10% to 15% of your monthly take-home pay. Add in your mortgage payments, property taxes, homeowner’s insurance premiums, and any private mortgage insurance payments, and your total debt generally shouldn’t exceed 36% of your monthly gross income.

To see where you stand, run your monthly loan payments through an online debt level calculator. From there, figure out how to pay down your debt with the least amount of interest using a debt reduction calculator.

Pay your bills on time. Although it sounds like obvious advice, paying your bills on time is essential to building and maintaining a solid credit history. That’s because your payment history is the most important factor in your credit scores. And your credit scores are one of the main tools lenders use to determine whether to grant you credit, and if so, how much and at what interest rate.

Late payments become a part of your credit record and make it harder to get credit in the future. Plus, the lender may take legal action against you, and if you default, may sell the collateral that you put up as security for the loan.

What if you already have some strikes against you? Fortunately, lenders will take a pattern of recent on-time payments into account. So it’s never too late to start repairing a damaged credit history. One way to make sure you pay your bills on time is to sign up for an automated payment service, like Virtual Branch Bill Payer.

Check out your credit reports. Lenders, employers, landlords, and insurers all rely on the information in your credit reports to help them make deci-sions about whether to loan you money, hire you, rent to you, or insure you.So it’s smart to review your reports periodically to verify that the information is accurate and up-to-date, especially before you need to borrow for a large purchase, such as a vehicle or house.

Even if you’re not planning to borrow money soon, or ever again, it’s important to review your credit reports regularly since your current lenders monitor your report. Plus, you never know when you’ll be applying for a new job or an insurance policy. Moreover, with credit fraud on the rise it’s also important to check your credit reports every so often for any accounts or transactions that aren’t yours.

Creditors don’t report to all three national credit reporting agencies and the agencies don’t share their data. So your credit report from each agency could be substantially different. That’s why you need to check all three of your credit reports.

You’re entitled to request a free credit report once every twelve months from each of the three nationwide credit reporting companies. To check out how to request your credit reports, go to the official website, www.annualcreditreport.com.

Know your credit risk scores. Credit scores are one of the main tools lenders use to determine whether to grant you credit, and if so, how much and at what interest rate. Credit risk scores are an objective summary of the information in your credit reports. Your credit risk scores reflect your credit-worthiness, with higher numbers typically indicating lower risk.

You can obtain your credit risk scores for a small fee from each of the three national credit reporting agencies. Just as your credit reports vary from each of the agencies, each of your three credit scores can vary significantly.

For information about how to request your credit scores, visit the websites of the three national credit reporting agencies:

• experian 888.397.3742 | www.experian.com

• equifax 800.685.1111 | www.equifax.com

• Trans Union 800.888.4213 | www.transunion.com

Article is for educational purposes only and is not intended to provide specific tax or legal advice. For answers to tax questions, please see your tax professional. For legal questions, consult an attorney.

How to Be Creditwise