J U L Y 2 0 1 5 | I S S U E # 2 6N E W S L E T T E R

In This Issue:

Annual Scholarships Awarded

Visa® Sweepstakes

Meet Our Newest Originator

Love My Credit Union

Use Extra Pay Dates/Periods Wisely

Tips For Saving

TruStage Insurance

Low Auto Loan Rates

Are You Too Focused on the Short-term?

We proudly recognized the accomplishments of 39 college-bound students in a private reception on Thursday, May 28, 2015, where each student was awarded one $2,000 scholarship.

Previously, we had awarded six scholarships annually, totaling $12,000.

Our expanded scholarship program offered one $2,000 scholarship award to one high school senior from each high school in New London and Windham counties with enrollment of 100 or more students. Nearly 150 applications from more than 25 high schools were received – which impressed the review committee!

We will reactivate the scholarship program in January 2016, and students will be encouraged to apply for a $2,000 scholarship.

WIN BIGGER.WHEN THEY USE THEIR CHARTER OAK FEDERAL CREDIT UNION VISA® PLATINUM CARD

MEMBERS BANK BETTER AND

You could win 1,000,000 bonus points, a travel package for two, an outdoor adventure package, or one of 30 other prizes! Our Visa cardholders are automatically entered in the Score Big Sweepstakes. For each qualifying purchase made

between Aug 1 and Oct 31, you’ll receive an additional entry! Visit www.scorecardrewards.com for details!For contest rules and your chance of winning, visit scorecardrewards.com.

GRAND PRIZE:1 MILLION SCORECARD BONUS POINTS

$78,000 in ScholarshipsAwarded by Charter Oak

Everyone is looking for ways to save money, and that’s justwhat Love My Credit UnionRewards is all about.

Charter Oak Federal Credit Union is excited to offer you, our member, exclusive discounts and benefits on products and services you use every day. Credit union members have already saved over $1 billion with Love My Credit Union Rewards discounts. So along with lower loan rates and fewer fees, here’s another way you can save even more.

♥ Exclusive discounted pricing on most new Chevy, Buick, or GMC vehicles with the Credit Union Member Discount from GM

♥ Save 10% on select regularly priced Sprint monthly service; businesses save 15% on select regularly priced Sprint monthly service. Plus, waived activation and upgrade fees (up to $36 savings for each)

♥ Savings of up to 50% off other popular plans from Credit Union Auto Club♥ Save up to $15 on TurboTax Federal tax products♥ Save on services for your home from ADT, DIRECTV, Allied, and more♥ Earn cash back when you shop at over 1,500 online retailers with Love to Shop

The more offers you take advantage of, the more you save. Start saving today at LoveMyCreditUnion.org.

LOVE MYCREDIT UNIONREWARDS

We recently welcomed Meg Polubiatko to our team of Mortgage Officers. She has more than 25 years of experience in the financial services industry and is well-known in the local community for her mortgage expertise.

Contact one of our Mortgage Officers today, and find out why we’ve been the #1 mortgage lender** for 5 years in a row!

Meet Our Newest Mortgage Officer

Love Your Savings. Use Extra Pay Dates/Periods Wisely

**Source: The Warren Group, Boston, MA. 2014 data for New London, Windham counties combined. Includes all residential mortgages with a value between $1 and $2,000,000.

Ann Gauthieragauthier@cofcu.com

860-287-7611NMLS 807624

Sharon DiMarcosdimarco@cofcu.com

860-908-9199NMLS 807736

Todd Cooketcooke@cofcu.com

860-933-4113NMLS 1055106

Meg Polubiatkompolubiatko@cofcu.com

860-235-6346NMLS 768417

Paydays and calendars don’t always coincide perfectly—two extra pay dates a year, for example, if you’re paid bi-weekly. That leaves the savvy household financial manager with a decision to make. What to do with the “extra” money?

One alternative is to build a budget buffer. By not using the money to make a purchase or add to your retirement account, you start adding those extra funds to give you some breathing room in your monthly budget. This gives you a little peace of mind and knowing you have enough cash on hand to make next month’s bills. You won’t have to stress about when a bill is due in relation to your pay day because you have the extra money in your account to pay it.

If you do it each time you have an extra payday you can work up to two months' buffer in less than 24 months. With that kind of obligation security, you can start a real savings plan to help you reach your financial goals.

According to the Fed, inflation is under control. But what’s up with the price of groceries? Dairy products are through the roof, a loaf of bread can set you back $3, and you’ll find plenty of special “carb smart” products at twice the price.

If groceries are eating up too much of your budget, follow these simple steps to trim your tab.

Here are 10 TIPS to help you save at the checkout counter:

Tips for saving on your...

Grocery

Bill

Use Extra Pay Dates/Periods Wisely

AUTO LOAN RATES AS LOW AS

MEMBERS BANK BETTER!

MEMBERS BANK BETTER.*APR=Annual Percentage Rate. The lowest APR assumes that your vehicle meets our underwriting guidelines. Your rate may vary depending on your credit history, term, and age of the vehicle.

FEDERALLY INSURED BY NCUA

1.99%APR*

❶ Shop the edges of the store. Buy more fruits and veggies, and fewer processed items.

❷ Forget the gimmicks. Many of the so-called “carb smart” foods were low-carb to begin with. And most of them are undeniably over-priced.

❸ Read the paper. Check your local paper weekly to see what’s on sale.

❹ Clip those coupons! They’re a tried and true way to save.

❺ Take advantage of double-coupon days. Get twice the savings!

❻ Watch the register. Most stores try to keep their scanners up to date, but mistakes do happen. Don’t be afraid to question the cashier if a sale price doesn’t show up.

❼ Look high and low. Marketers know that grocery shoppers are usually in a hurry, and tend to purchase items that are at eye level. Don’t just grab the expensive name brand. You can save 40% or more by buying generics or the store brand.

❽ Shop alone if possible. Your kids may enjoy helping, but they can boost your bill by adding lots of impulse items to your cart.

❾ Ask for a rain check. If the store runs out of a specially priced item, be sure to get a rain check.

❿ Calculate your discounts. Maybe you can save by buying in bulk – or maybe not! Shop with a calculator so you know if that 24-pack of paper towels is really a bargain.

860-446-8085 • 800-962-3237 • CharterOak.orgDayville • Groton • Montville • Niantic • Norwich • Pawcatuck • Putnam • Waterford • Willimantic

Branch and Headquarters Photo (cover): ©Robert Benson Photography

Independence DayFriday, July 3, 2015 Regular Business Hours

Saturday, July 4, 2015All Branches & Call Center Closed

Labor Day Saturday, September 5, 2015Regular Saturday Business Hours

Monday, September 7, 2015All Branches & Call Center Closed Holiday

Hours:

Federally Insured by NCUA

How many short-term financial decisions do you make each week? You probably make more than a few, and they may feel routine. Yet in managing these day-to-day issues, you may be drawn away from making the long-term money decisions that could prove vital to your financial well-being.

How many long-term financial decisions have you made for yourself? How steadily have you saved and planned for retirement? Have you looked into ideas that may help to lower your taxes or preserve more of the money you have accumulated?

Start by taking inventory. Look at your investments and savings accounts: their balances, their purposes. Then, look at income sources: yours, and those of your spouse or family if applicable. Consider your probable or possible income sources after you retire: Social Security and others.

This is a way to start seeing where you are financially in terms of your progress toward a financially stable retirement and your retirement income.

It may also illuminate potential new directions for you:

• The need to save or invest more (especially since parenting or caregiving has the potential to, at some point, interrupt your career and/or affect your earnings).

• The need for greater income or additional income sources down the road.

• Risks to income and savings (and the need to plan greater degrees of insulation from them).

Devoting even just an hour of attention to these matters may give you a clearer look at your financial potential and needs for tomorrow. Proceed from this step to the next: follow with another hour devoted to a meeting with an experienced financial professional.

Are You Too Focused on the Short-term?

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information should not be construed as investment, tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free 800-369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. CRPC® is a registered service mark of the College for Financial Planning.®

Todd GestrichFinancial AdvisorCharter Oak Retirement and Investment Services1-860-446-3312todd.gestrich@cunamutual.com

Stephen A. Sylvester, CRPC®

Vice President, Wealth ManagementCharter Oak Retirement and Investment Services1-860-446-3270 • Cell: 1-860-202-9650steve.sylvester@cunamutual.com