In MemoriumThe Chelsea Employees Federal Credit Union family regrets

to announce the loss of two of its most beloved and

dedicated colleagues: Leo B Graves, Sr., and Pat (Fern)

Lepore.

Leo Graves was a volunteer member of the Credit Union

Board of Directors for 26 years. He also served for 15 years

on the Credit Committee, which met each week to approve loans for credit union

members. Leo was a retired Chelsea Fire Deputy Chief who served the CFD for 36

years. All of us will miss the dignity, class and humor Leo brought to everyone he

met.

Pat Lepore started at the Credit Union back in 1970, when all transactions were

marked on ledger cards. Through her 30 years here, she was truly the icon of the

credit union and there was never a dull day working with her. Pat is sorely missed for

her Chelsea tenacity, her concern for people and the joy and friendship she brought

to all.

How toSurvive TheHolidaysWithoutGoing Broke!

Believe it or not, it’s that time of year

again – time to start thinking about your

holiday shopping list (and how to afford

what’s on it). Time to take that list,

check it twice, and set up a budget that

agrees with what you wish to spend.

The thought of expenses – holiday

feasts, travel and gifts – may have you

wishing for a little extra cash.

Everyone deserves to enjoy the holiday

season without worrying about how to

pay for it. If borrowing a little fits the bill,

let your credit union come to the rescue!

A holiday loan may be one of the easiest

ways to put the fun back into your

holiday festivities and still provide you

with a payment plan that fits your

budget.

Get in touch today - Let the Credit Unionmake your wish cometrue.

HELP US CELEBRATE THE SUCCESS OF YOUR CREDIT UNION

Credit Union Appreciation WeekOctober 15th through the 19th.

Let’s celebrate with credit unions all over the world the uniqueness of our member-

owned financial institutions. The first credit union in the United States opened its doors

in 1909 to serve the parishioners of St. Mary’s Church. Today, St. Mary’s Bank of

Manchester, NH is a full service financial institution and offers membership to anyone

who lives or works in New Hampshire.

While a lot has changed in the nearly 100 years since credit unions have been around in

the United States, putting people ahead of profits remains the credit union motto. Credit

unions are where you belong.

Since 1948, the third week of October has been set aside for credit unions to celebrate

their history and future.

Make the credit union your first stop for all of your financial needs. See what we have to

offer and how we can help you reach all of your financial goals.

Join us during this special week in celebrating you, our members!

205 City Hall

Chelsea, MA 02150

Phones (617) 884-3599

Fax (617) 889-6740

www.ChelseaEFCU.org

OFFICE HOURSMonday 9:00 AM - 3:30 PM

Tuesday 9:00 AM - 7:00 PM

Wednesday 9:00 AM - 3:30 PM

Thursday 9:00 AM - 3:30 PM

Friday 9:00 AM - 12:00 PM4th Quarter 2007

1025-1007-NL

BEFORE THE SNOW FLIES -

LET’S HAVE A YARD SALEYears ago, alchemists had a dream of changing other elements into gold. Changing your

old junk into money might seem as far-fetched, at first, but with just a bit of work, it's

possible.

Sounds too good to be true? Just think of the last time you shopped at a yard sale. That

beautiful vase you found to match your kitchen tablecloth was somebody else's garbage.

So, take a look around. Are things you no longer want or need filling every nook and

cranny of your garage and attic and starting to invade your house as well? Then, maybe

it's time for a yard sale.

You'll have to pick a weekend, and get the rest of the family to pitch in. Go through

closets for clothing nobody wears, and sort through all the stuff that just accumulates in

the house and takes up space. This might seem daunting, but it'll be a great clean up as

well. Then, make things look presentable. Wash clothing and dishes, and make the easy

repairs yourself.

Some things might now look so appealing you might actually decide to keep them

yourself! Then decide on the prices. They should be reasonable, according to the items'

condition and retail price when new. If something is in good working condition a fifth of

the retail price is acceptable. You can even add some fun perks,

such as 'Buy One Get One Free' to attract customers. Make sure

to price the items clearly and have the kids take care of the

advertising. You'll have to be clear as to the location and time of

the sale. Making colorful signs can be fun for the whole family.

Make sure to spread the word. You might even want to put

something in the paper. Once everything is in place you'll have

earned money . . . and have a clutter-free home, too!

Then take some of the profit and open up a savings account at

the Credit Union for the kids to show you appreciate their

assistance. Show them that if they work hard, there can be

positive results for their efforts.

MSN Money: “Ditch your bank for a Credit Union”According to MSN Money columnist Liz Pulliam Weston, it’s time to “Ditch your bank for a Credit Union.” In the column, she lists

several distinctions between credit unions and banks, including [1] Credit Unions are member-owned; [2] Credit Unions are not-for-profit;and [3] Banks hate credit unions. The article mentions that credit unions have lower fees, have lower ATM charges and offer freechecking. In addition, loan interest rates are often lower and dividend rates are higher. She states that most people who switch frombank to credit unions are thrilled they made the switch. _________

Beware of “Payday Loans’’A recent trend that our members are telling us about involves unsolicited e-mails that offer quick “payday Loans.” On the face, it

looks like a good alternative for unexpected financial emergencies, but there are serious hidden dangers.The typical Payday Loan is $300 for 2-weeks and you must pay a fee of $90 at the end of the two weeks. If you don’t pay it off, the

loan automatically renews, along with the fee. The fees can exceed 800% APR if the loan renews just a few times. Compare that to lessthan 10% for the credit union. The typical payday loan borrower pays back $800 for each $300 borrowed.

If you receive these e-mail offers, delete them immediately. If you need an emergency loan, give us a call.

LOAN RATES

LOAN TYPE TERM RATE

NEW AUTOS 48 Mos 4.90%

90% Financing 60 Mos 5.90%

72 Mos 6.90%

USED AUTOS

90% Financing

2005 - 2007 36 Mos 4.90%

2005 - 2007 48 Mos 5.90%

2005 - 2007 60 Mos 6.90%

2001 - 2004 36 Mos 5.90%

2001 - 2004 48 Mos 6.90%

2001 - 2004 60 Mos 7.90%

Older Vehicles 36 Mos 9.90%

100 % Financing available

HOME EQUITY 180 Mos 7.75%

Variable Rate - Prime

MOTORCYCLE Auto Rates - 3.00%

PERSONAL LOANS 12 Mos 9.90%

$5,000 Maximum 24 Mos 11.90%

36 Mos 13.90%

SHARE SECURED 60 Mos 3.75%

Rates listed above are for loans paid

through payroll deduction or ACH.

DIVIDEND RATES

SHARE TYPE RATE APY

SAVINGS / CLUBS

TIER I $25.00 0.75% 0.75%

TIER II $5,000.00 1.00% 1.00%

TIER III $10,000.00 1.50% 1.51%

TIER IV $50,000.00 2.00% 2.02%

IRA SHARES 2.50% 2.53%

SHARE DRAFTS 0.25% 0.25%