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TeachersFCU.org

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Stephen Abbott, CLU, ChFCFinancial Advisor2410 North Ocean Avenue, Farmingville, NY 11738(631) 698-7000, ext. 3692

Chris Hibbard, ChFC, CRPC, CFSVice President, Wealth Management5439 Sunrise Hwy., Holbrook, NY 11741(631) 698-7000 ext. 6020

JUNE 2019

The ALS Ride For Life made a stop at TFCU’s East Northport branch, continuing its inspiring message of being optimistic and looking for a future of hope for those diagnosed with ALS. Their mission statement is to raise research funds and public awareness, support patients and their families, and provide local communities with information and inspiration. During ALS Awareness Month (May), patients and their support teams embark on a journey to spread awareness and raise funds. Pictured: (Left to Right) Paul Weissman, Robert G. Allen (President/CEO of TFCU), Christopher Pendergast (President of Ride for Life), Jesus Pernas (Financial Services Assistant Manager), Sully Benavides (Financial Services Manager)

ALS Ride For Life 2019

On May 31st, after almost thirty-one years (2 months shy) of being privileged to have served as the President/CEO of Teachers Federal Credit Union, I have entered into retirement.

Over these years, TFCU has grown by all of the normal measurements: loans, deposits, products, services, branches, and the use of technology; but, the most rewarding and important measurement to me has been in the number of members to which we have brought the benefits of credit union membership (now over 330,000) and the number of employees (now over 800) that deliver those services and for which we provide employment on Long Island.

These employees, in addition to doing their jobs and providing for their families, have continuously, over my full 30 years, given back to the communities in which we live by supporting numerous charitable organizations. Needless to say, I am very proud of them, past and present.

I, along with the board and senior management have always placed the financial strength of TFCU as a priority. We operate fully knowing that it is our members’ money that we invest and have done so conservatively. We have made maintenance of a strong capital position equally important. That philosophy and the benefit of acquisitions made last year, afford TFCU the ability to further expand throughout the country, making TFCU’s future very bright. I, therefore, leave with feelings of pride for what has been accomplished as well as for the position that TFCU is in going forward.

I thank our membership for their support of TFCU and our employees for their dedication and professionalism.

Robert G. AllenPresident/CEO

President’s Message

The equity in your home is the portion of your property that YOU own. That means, as you pay down your mortgage, you have more access to the value of your home. You can use that value in several ways:

• Home remodeling• Vacation and other fun activities• College tuition • Buying a second home • Use it as a safety net, or a cash flow• Debt consolidation – our low Home Equity rates can help with the bills!

TFCU offers a variety of Home Equity products. Not sure how much you’ll need for your adventure? A Home Equity Line of Credit allows you to borrow what you need, when you need it. Best of all, when you pay it back, the funds become available to you again (like how a credit card works)! A Home Equity Loan allows you to determine how much you’ll be using and spending, to keep a low-rate budget and a steady monthly payment.

Using Your Home’s Equity

Let TFCU Help Plan Your Vacation Our Vacation Loan Promotion Makes Life a Breeze

Summer Fun with TFCUSummer Fun with TFCU

If you have a primary residence in New York, and now Florida, Pennsylvania, North Carolina, South Carolina or New Jersey, TFCU can help you utilize the equity in your home!

5%

2 Visit www.TeachersFCU.org/Summer to Start Saving!

Sometimes a ‘quick getaway’ quickly racks up the bills. Our Vacation Loan Promotion is here to help make your summer plans go as

smoothly as possible. You can borrow up to $3,000 from TFCU at 5% APR*!

But, what does that really mean?

Borrowing $3,000 at 5% APR* for two years will accrue approximately $160 in interest. The same amount

over the same time with a credit card that’s charging a national average 17% APR will add up to $550 in interest.

ADJUSTABLE RATE

APR*2.99%

Interest-Only Home Equity Line of Credit

NO CLOSING COSTS!

*APR: Annual Percentage Rate. Rates and terms accurate as of 5/16/19. All rates and terms are subject to change without notice. Term: 180 Months. Daily Periodic Rate is 0.0075%. Rate applicable for terms up to 120 months. Higher terms are available. Ask for details. HELOC max $500,000 (up to 80% of home value, rate shown for 80% max. LTV). Lines up to $100,000 require $10,000 min. advance & must maintain a balance of $5,000 for 36 months to avoid repayment of closing costs. Lines $100,001 - $250,000: $60,000 advance & maintain a balance of $50,000 for 36 mos. to avoid repayment of closing costs. Lines $250,001 - $500,000: $150,000 advance & maintain a balance of $100,000 for 36 mos. to avoid repayment of closing costs. Variable rate equal to the Wall Street Journal Prime Rate (5.50% as of 5/14/2019) as published 30 days prior to interest rate adjustment date, applied at loan origination. After 12 month period, a 1% maximum rate adjustment is allowed per quarter. Rate will not exceed 18% over the life of the loan. Appraisal will be required. Primary residence – New York only. Ask for details. Membership conditions may apply.

*APR: Annual Percentage Rate. All rates and terms are subject to change without notice. Minimum loan: $250, Maximum loan: $3,000, for up to 24 months.

APR*

For more information or to apply, go to www.TeachersFCU.org/Summer

That’s almost $400 in savings! Can you think of a few things

you’d rather spend that money on?

For more information or to apply, go to www.TeachersFCU.org/Summer

Start Your Summer Fun at Home!

Transfers & Purchases

2.99%NEW

Credit Card Accounts

APR*

Transfer Your Credit Card Balance to TFCUMake Room in Your Wallet!

Summer Fun with TFCUSummer Fun with TFCU

Benefits Plus® is Beach Ready Our Member Exclusive Savings Program is Just What Your Summer Needs

Balance Transfers

2.99%EXISTING

Credit Card Accounts

No Balance Transfer Fees

Benefits Plus® specializes in what matters most – savings. For less than $5 a month, TFCU members can enjoy a variety of products that make life easy and fun – all at a tremendous savings.

Heading out of town? You can get some of the best deals on flights, hotels, car rentals, cruises, tours and more! Plus, they offer up to 50% discounts on some of the best tourist attractions like Busch Gardens, SeaWorld and more across the U.S.!

Staying local? Benefits Plus® can make a day trip a walk in the park with savings on activities like visiting the Empire State Building, exploring the Bronx Zoo, or finding thrills at Six Flags or Splish Splash.

Benefits Plus® can be added to any TFCU checking account for a low monthly fee of $4.95.

Visit www.TeachersFCU.org/Summer to Start Saving! 3

Let’s say you have $5,000 on a credit card charging 17% APR, which is about average for most cards across the country. In one year, if you didn’t add to the balance, you would have paid almost $500 in interest. But what if you moved that $5,000 to a TFCU Visa Card? With our 2.99% APR promotion, your interest for the year would approximately be $81. And after that? You’ll continue your savings by utilizing our low Visa rates. It’s a win-win!

New TFCU Credit Card Accounts• 2.99% APR on Purchases (excludes cash advances) • 2.99% APR on Balance Transfers (No Fee with a minimum of $1,000)• Rate continues for 12 billing cycles from the initial transaction Existing TFCU Credit Card Accounts• 2.99% on Balance Transfers for 12 billing cycles from the initial transaction• No Balance Transfer Fee • Minimum $1,000

APR*

Interest-Only Home Equity Line of Credit

For more information or to apply, go to www.TeachersFCU.org/Summer

*All rates and terms are subject to change without notice. Rates & terms accurate as of 5/16/2019. APR: Annual Percentage Rate. When the promotional period ends, any new or outstanding balance transfers and purchases will revert to the then Standard APR for the card type, which is currently: Platinum 9.96%, Classic 12.84%, No Frills 9.84%. All other terms and conditions are the same. We will accept balance transfers that are an aggregate of $1,000 as long as they are submitted in one transaction. (This does not apply to statement or letter checks). Excludes Student, Secured & Business Credit Cards. Membership conditions may apply.

For more information or to sign up, go to www.TeachersFCU.org/Summer

For more information or to apply, go to www.TeachersFCU.org/Summer

† Facility employees only

Branch Locations

Convenient Loan Call Center Hours 24/7 Loan Information & Applications

631-698-7000, Ext. 6790.

TFCU’s Routing Number: 221475786

Check TeachersFCU.org for all of our GREAT RATES!

twitter.com/TFCU

Board Of DirectorsTimothy M. Southerton, ChairmanGeorge L. Dornhoefer, Vice ChairmanJuan C. Nuñez, TreasurerApril S. Neitlich, SecretaryRaymond P. GrossmanRonald A. MincioRobert J. NeyMario P. ShortinoShalei V.K. SimmsF. Jane Harris, Director EmeritaFrank D. Spencer, Director Emeritus

Executive ManagementRobert G. Allen, President/CEOC.J. Meyers, Executive Vice President/COO

Supervisory CommitteeJames F. Nohe, ChairmanMark O. Israel, SecretaryAlan R. Fertmann Eric J. Iberger April S. Neitlich

Amityville - 355 Broadway (Rte. 110)Bay Shore - 3rd Ave. and Sunrise Hwy. Briarwood (Queens) - 139-30 Queens Blvd. Brookhaven National Lab† - 400 Brookhaven Ave.Center Moriches - 248 Montauk Hwy. Central Islip - 118 Wheeler RoadCommack - 10 Vanderbilt Pkwy.East Meadow - 2557 Hempstead Tpke. East Northport - 556 Larkfield RoadFarmingville - 2410 N. Ocean Ave.

Hauppauge - 102 Motor Pkwy.Holbrook - 5439 Sunrise Hwy.Huntington - 211 East Main StreetKings Park - 742 Route 25AManorville - 460 County Road 111 Merrick - 1638 Merrick Rd. Nesconset - 127 Smithtown Blvd. North Babylon - 1134 Deer Park Ave.North Massapequa - 4250 Jerusalem Ave. Oakdale - 951 Montauk Hwy.

Patchogue - 31 W. Main Street, Suite 23 Port Jefferson Station - 5145 Nesconset Hwy. Riverhead - 176 Old Country Rd. (Rte. 58)Riverside (Manhattan) - 180 Riverside Blvd. at W69th St. Rocky Point - 561 Route 25A Selden - 301 Independence Plaza, (Rte. 25)Shirley - 437 William Floyd Parkway. Smithtown - 1 West Main StreetSouth Setauket - 260-A Pond PathWading River - 6257 Route 25A Woodside (Queens) - 50-24 Queens Blvd.

631-698-7000 • 1-800-341-4333**Outside the Long Island, Westchester and New York Metro areas.

TFCU HEADQUARTERS Located at: 102 Motor Pkwy, Hauppauge, NY

Mail: P.O. Box 9005, Smithtown, NY 11787TeachersFCU.org

While consistent effort is made to ensure the integrity of information contained in this publication, material should not be considered legal, financial or professional advice. Terms and conditions apply. Please speak to a representative for details.

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Tom Sconzo Financial Advisor561 Route 25A, Rocky Point, NY 11778 631-698-7000 ext. 3367

Financial Services Representatives at other branches:

Stephen Abbott, CLU, ChFCFinancial Advisor2410 North Ocean Avenue, Farmingville, NY 11738(631) 698-7000, ext. 3692

Frank PecorellaFinancial Advisor3rd Avenue & Sunrise Hwy., Bay Shore, NY 11706631-698-7000, ext. 6925

Chris Hibbard, ChFC, CRPC, CFSVice President, Wealth Management5439 Sunrise Hwy., Holbrook, NY 11741(631) 698-7000 ext. 6020

Manorville – Ron RebaldoNesconset – Micki Cahill

FR-2176213.1-0718-0820© CUNA Mutual Group

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. *Representatives are not tax advisors or Social Security experts. For information regarding your tax situation, please consult a tax professional. To discuss your specific SSA benefits questions, please contact the SSA office in your area.

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• Clean CARFAX® • Trade-Ins Accepted • One Owner/Off Lease - Low Mileage • Hassle-Free Pricing/No Hidden Fees • Long Island’s Largest Indoor Showroom • TFCU Financing Available

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