Providing our members information on what's new at the credit union, special events coming up and information we think members could use.

"People Helping People" 

First Mortgages for our Members

We are pleased to announce we now offer First Mortgages up to 30 years at VERY competative rates.  Members are finding they can save hundreds of dollars in payments each by consolidating their existing home equity loan at the credit union with their first mortgage.  Call the loan officer at any branch for more information.

The Cortland Downtown Branch Office renovation is complete.  The new lobby has five (5) teller stations (completed Fall 2007) and we are presently renovating the exterior of the branch and adding a new sign in front.  Come visit our downtown branch soon (143 Main Street, Cortland).

Remember... The IRS does not contact tax payers by email!

 INFORMATION ON PHISHING, SPAMMING, SPYWARE, ID THEFT, ETC,IS AVAILABLE AT: OnGuard Online.

OnGuardOnline.gov provides practical tips from the federal government and the technology industry to help you be on guard against Internet fraud, secure your computer, and protect your personal information.

The Internet can give you access to information, entertainment, financial offers, and countless other services -- but at the same time, it can leave you vulnerable to online scammers, identity thieves and more. Learn experts' top seven practices for safer computing, as well as some terms and remedies.

If there is a total loss as a result of an accident or theft of a vehicle covered by insurance, GAP (Guaranteed Auto Protection) will pay the difference between the proceeds from your insurance settlement and the balance of your loan. GAP is available for new and used vehicles. The price of GAP coverage at your credit union is only $110.00 some dealers have charged as much as $500.00 for the same coverage - check with us before you sign! GAP - One more piece of Syracuse's "Total Package". 

Click HERE and print out your DUNN TIRE CARD. 

UPCOMING ARTICLES IN Home and Family Finance

Dig Deep for Grocery Savings
       In July, the Financial Fitness Challenge shows you how to put low-cost fresh veggies on the table. Melissa of Jay, Maine, shared this:
     "We had little experience with growing a garden, but found that the $100 dollars we invested to create a raised boxed garden (built it, filled with organic compost, and bought seedlings) in our back yard was a great investment.  We had a blast watching it grow, gathering our crop and saving money on our grocery bill!  In the prime eight weeks of our growing season we saved $150 dollars on "organic" vegetables and were able to freeze vegetables for months after. This year we have added a second garden and plan to eat, freeze, and can the veggies and fruit for well into 2009!!!  We are eating healthy, involving the kids and saving cash!!"
     
Melissa, a member of OTIS Federal Credit Union, was selected as one of our July $50 Visa gift card winners.

Design Your Own Spending Plan
     In today's economy, there's not a better reason to stay on budget. CUNA's "Budget Blueprint: Design Your Own Spending Plan" statement stuffer will help you establish one. Tips and advice will motivate you to start and stick to a budget, assist with budget analysis, and develop a long-term financial plan. An extended table covers categories from shelter to installment payments.

Budget Blueprint Interactive CD-ROM 
This handy CD-ROM also can help you track household finances and set realistic savings goals via Microsoft Excel spreadsheets. With the click of a button, you can print a pie chart that shows how much you're spending on each budget category and adjust your household spending to reach financial goals.

July Financial Fitness Challenge: Put Low-Cost Veggies on the Table

Tough Times Series: Lenders, Counselors Help Homeowners Avoid Foreclosure (featured week of July 7)  If you're a homeowner, the thought of not being able to make mortgage payments probably tops your list of financial worst-case scenarios. A financial bump in the road does not have to spell disaster. (ml-1693)

Get There With Portable GPS (featured week of July 14)  As Americans become highly skilled multitaskers, dedicated readers aren’t giving up their passion—they’re turning to audio books. (tl-1989) You now can buy global positioning system units with as many features as manufacturers’ new-car systems for less than half the price. (arl-1988)

 Pay Off Your Mortgage Sooner ... or Later? (featured week of July 21)  It’s satisfying to see your mortgage balance shrink faster, but is prepaying always a smart financial move? (ml-1990)

Audio Books: A Novel Way to Read a Good Book (featured week of July 28)
As Americans become highly skilled multitaskers, dedicated readers aren’t giving up their passion—they’re turning to audio books. (tl-1989) 

 Tough Times Series: Credit Savvy Is Key to Avoiding Costly Missteps :  (featured week of July 14)  The truth behind 12 of the most common credit myths is revealed. (cr-1847) 

Tough Times Series: Tap Your Home’s Equity video clip
Join the vice president of the center for personal finance as he talks about tapping into your largest single asset—the equity in your home. He explains what equity means and what you can use it for, as well as the difference between a home equity loan and a home equity line of credit.

 In the August 2008 issue (available beginning Aug. 4) What to Know Before Bundling TV, Phone, and Internet Services.  If you're still paying a separate bill for each of your telecommunications services—TV, phone, and Internet—you're part of a dwindling population.

Gouged by Groceries.  Rising food prices are taking a bite out of American budgets, but savvy shoppers can snap back with a few painless money-saving strategies.

Putting Credit On Ice Carries Costs, Benefits.  Freezing your credit can help protect your reputation as a credit-worthy consumer, but it's likely to cost you both time and money.

Tough Times Series: What to Do When Your ARM Is Due.  If you have an adjustable-rate mortgage (ARM) and your rate adjustment is looming, it's time to devise a plan. 

Avoid Conversion Confusion With Roth IRAs.  We'll explain the 2008 tax rule change regarding conversions of a 401(k) or other employer retirement plan to a Roth IRA.

Visit OnGuardOnline.gov Today!!