Credit Union Membership – A Lifetime
of Benefits for You and Your Family |
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Securing your family’s financial future is a goal for most people. One way to accomplish this is to sponsor your family for membership in Congressional FCU. It is a benefit that will last a lifetime and provide valuable cost savings and convenience over the years. Regardless of where they live or work, you can help your child or grandchild save for college, help your son or daughter get their first mortgage, or provide your parents with competitive money market and certificate yields.
The chart below illustrates the opportunities for membership you have within your family based on your own membership. Eligibility extends to your spouse, child, sibling, parent, grandparent or grandchild. Also included are stepparents, stepchildren, stepsiblings, adoptive
Family Membership Eligibility Flow Chart
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relationships and persons living in the same residence maintaining a single economic unit.
Once your family members have joined, their family members also become eligible. Family members are entitled to full membership privileges and retain their Congressional FCU membership even in the event your account is closed. Once you are a member of Congressional FCU, you can remain a member for life.
Keep in mind that joint owners on accounts are not credit union members in their own right. If you have a spouse or family member as a joint owner on your accounts, it’s a good idea to sponsor them for full membership so they are able to apply for loans in their own name and can take advantage of the full line of Congressional FCU products and services.
For more information and an online membership application, go to "Join the Credit Union".
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Scholarships Available for Credit Union Members
If you or a family member are headed for college soon, Congressional FCU has an exciting scholarship program available that could help meet your education costs. The $10,000 College Essay Scholarship Program for 2008, sponsored by the Credit Union Foundation of Maryland and the District of Columbia, is now underway. Ten $1,000 scholarships will be awarded to the winning applicants in May of 2008. As a Congressional Federal Credit Union member who currently attends or who has been accepted to attend college, you’re eligible to apply.
The program involves writing an essay of 750 words or less. This year’s topic asks applicants to envision what changes and advancements in credit union services they foresee happening from 2008 to 2020. More information and applications are available online at
http://cufmddc.org/ essay.htm. Essays and applications are due by March 31, 2008, so don’t delay!
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Maintain your vehicle: Regular maintenance not only makes for a safer, more secure ride, but keeping all your vehicle’s parts in tiptop shape will extend fuel usage over time. Keep your air filter clean, your tires filled with the right amount of air, and follow the manufacturer’s recommendations for engine oil changes.
Drive smart: Before taking off, look for unnecessary, heavy objects you may be carrying on the exterior and interior of the vehicle. Carting around items such as a tool kit, stereo equipment, and ski or bike racks affect gas mileage. If you don’t need immediate access to the items, store them elsewhere.
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Drive less: Reduce unnecessary trips by combining errands, and bike, walk, or use public transportation whenever possible. If you have neighbors who work in the same general direction as your place of employment, arrange for car pools to share the cost of gas.
Other ways to save gas (when safe and appropriate), include turning the car off rather than idling, traveling the right speed for each gear, and not revving the engine or warming up newer vehicles. Use cruise control on the open road, coast down hills, and accelerate slowly when leaving stoplights.
By following these tips and using safe driving habits, you’ll be better prepared to handle the road and your fill-ups.
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7-Eleven® ATMs Are Surcharge Free
CO-OP Network ATMs are now located in 5,500
7-Eleven® stores across the United States, where your Congressional
Visa Check Card can be used surcharge-free. You can also use any
VISA, PLUS, STAR or Alliance One network ATM with no surcharge. Look
for one of these logos or use the
Locator Search link.
How to Reduce Frequent Fill-ups
With fuel prices climbing ever higher, many drivers are suffering major financial collisions. Thankfully, many vehicle associated costs are within your control. You can save a lot of money by making a few changes to the way you drive and use gas.
Consider downsizing: Large, heavy vehicles can burn up to three times as much fuel as small cars. If it’s time for a trade-in, consider a vehicle that is built for good gas mileage or possibly a hybrid car. Hybrids are economically (and ecologically) sound choices, since they run on a combination of gasoline and electricity. If you’re considering a new or used car purchase, check out Congressional FCU’s highly competitive car loan rates on the next page or visit our website.
Continued Below
| 24 months |
3.9% |
3.9% |
| 36 months |
3.9% |
4.5% |
| 48 months |
4.5% |
4.9% |
| 60 months |
4.5% |
5.9% |
| 72 months |
5.9% |
6.9% |
| 84 months |
6.9% |
7.9% |
| Hybrids 60 months |
4.3% |
4.3% |
*All Annual Percentage Rates (APR) listed above include a .25% discount for automatic payments. Terms and rates are effective February 1, 2008 and are subject to change without notice. Approval is subject to income requirements and credit review.
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Take Control of Your Taxes
and Pay with Visa
Mail or online — how will you file your personal income taxes this year? Either way, you can pay them using your Visa® card.
Just use one of the approved service providers, and you will have the peace of mind that your tax payment is made on time. And depending on your Visa card benefits*, you could earn miles, points, or other rewards for each tax dollar you pay with Visa.
Contact one of the service providers below and pay with your Visa card today:
• Official Payments Corp.®
Visit www.officialpayments.com/visa
or call 1-800-2PAY-TAXSM.
• PAY1040.com
Visit www.PAY1040.com/visa
or call 1-888-PAY1040.
*You may be assessed a service fee, which will vary based upon the taxes due and the payment provider selected. For more information regarding your tax obligation, call the IRS at 1-800-829-1040 or visit www.irs.gov.
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Annual Meeting Notice
The Annual Meeting of the Members of Wright Patman Congressional Federal Credit Union will be held on Wednesday, May 21, 2008 at 7:00 pm at the Credit Union's Oakton Operations Center at 10461 White Granite Drive, Oakton, Virginia, 22124.
In accordance with the bylaws of the Credit Union, the meeting will include reports from the Directors, the Treasurer, and the Supervisory (Audit) Committee, as well as the election of the Directors. Please contact the Credit Union if you have any questions or need additional information. |
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What Is Diversification?
Virtually every investment has some type of risk associated with it. The stock market rises and falls. An increase in interest rates can cause a decline in the bond market. No matter what you decide to invest in, risk is something you must consider.
The key to successful investing is managing risk while maintaining the potential for adequate returns on your investments. One of the most effective ways to help manage your investment risk is to diversify. Diversification is an investment strategy aimed at managing risk by spreading your money across a variety of investments such as stocks, bonds, real estate, and cash equivalents.
The main philosophy behind diversification is really quite simple: "Don’t put all your eggs in one basket." Spreading the risk among a number of different investment categories, as well as over several different industries, can help offset a loss in any one investment.
Likewise, the power of diversification may help smooth your returns over time. As one investment increases, it may offset the decreases in another. This may allow your portfolio to ride out market fluctuations, providing a more steady performance under various economic conditions. By reducing the impact of market ups and downs, diversification can go far in enhancing your comfort level with investing.
Diversification is one of the main reasons why mutual funds are so attractive for both experienced and novice investors. Many non-institutional investors have a limited investment budget and may find it challenging to construct a portfolio that is sufficiently diversified.
For a modest initial investment, you can purchase shares in a diversified portfolio of securities. You have "built-in" diversification. Depending on the objectives of the fund, it may contain a
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variety of stocks, bonds, and cash vehicles, or a combination of them.
Whether you are investing in mutual funds or are putting together your own combination of stocks, bonds, and other investment vehicles, it is a good idea to keep in mind the importance of diversifying. Diversification does not guarantee against loss; it is a method used to manage investment risk. The value of stocks, bonds, and mutual funds fluctuate with market conditions. Shares, when sold, may be worth more or less than their original cost.
Mutual funds are sold only by prospectus. Please consider the investment objectives, risks, charges, and expenses carefully before investing. The prospectus, which contains this and other information about the investment company, can be obtained from your financial professional. Be sure to read the prospectus carefully before deciding whether to invest.
To learn more about Congressional Financial Network products and services, please contact the Credit Union at (703) 934-8300 and ask to speak with Roderick Day, Financial Consultant.
Securities are provided by Financial Network Investment Corporation, a registered broker/dealer and member SIPC. Financial Network is not an affiliate of Congressional Federal Credit Union ,located at 10461 White Granite Dr, Ste 300; Oakton, VA 22124
Not NCUSIF Insured. May Lose Value. No Credit Union Guarantee. Not a Deposit. Not insured by any federal government agency.
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Did you know?
SimpliFi® is a free financial planning service that can be accessed through Congressional Online Banking by choosing the SimpliFi option on the left side choice bar. Chart your financial goals and create a financial plan, all in the comfort of your home or office, at your convenience.
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Purchasing or Buying a Home?
We Have the Resources and the Money!
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Spring is a great time to buy a home and finance it with your credit union. We offer competitive interest rates and a variety of loan products that will meet your needs. Our Real Estate team will help you explore the options that are available. We want to help you find a home that you can afford and enjoy for many years to come.
Your credit union also has an easy-to-use online loan consultant. It will guide you through all of the options and rates to help you determine what type and loan amount is best for you. When you are ready to apply for a loan or refinance an existing one, use our online mortgage application. You may also register for mortgage rate "alerts."
Get cash back when you buy or sell through CU Realty
CU Realty is the leader in streamlined home buying and selling for Credit Union members nationwide. CU Realty has online tools designed so you can search for a new home, get tips to prepare your home for sale, and even find a real estate agent — on your time. Congressional FCU membership gives you access to CU Realty for FREE!
Already a homeowner? Is it time to refinance?
If you are considering refinancing, you should consult our team and determine whether this would be a good move for you and your family. With today’s lower interest rates, your monthly payment could be lower. We can help you determine if it might be advantageous to take out a new mortgage or stay with your existing loan.
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Need a new look? Update your home!
Why not consider a Home Equity Loan? You may take advantage of the equity in your home to borrow at a low rate. Plus, the interest you pay may be tax deductible (consult your tax advisor). With our knowledgeable Real Estate team, you will receive personal service and a great deal!
Do you have an ongoing list of projects? If yes, you may be better off with a Home Equity Line of Credit. You have complete control over your home equity funds and only pay interest on the money that you use.
Whether you are a first-time homebuyer or a home improvement enthusiast, we can help you achieve your goals. Talk to our Real Estate team first if you are considering buying, refinancing, or using your home equity.
To learn more about our products and interest rates, please visit our web site and click on Home Mortgage to learn more.
Ready to apply?
• Telephone our Real Estate Department at (703) 934-8300, option 3
• Visit a Congressional FCU branch office
• Download an application from our web site
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Winter Warm-Up Personal Loan Sale — EXTENDED
APR as low as 6.95%* • January 1 – March 31, 2008
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Groundhog Phil saw his shadow, so we’re extending the Winter Warm-Up Loan Sale through March 31, 2008.
• $5,000 minimum, $20,000 maximum
• APR as low as 6.95%* on 24 months
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Apply today
• Through Congressional Online Banking
• By phone, 703-934-8300
• Fax, 703-934-8319
• Visit a Congressional FCU branch
*Annual percentage rate is effective from January 1–March 31, 2008, and may be changed or discontinued without notice. Other rates and terms are available. First payment not due for 60 days from the date of the loan. Special loan rate cannot be used to refinance current Congressional FCU loans. All applications are subject to credit and income review.
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 Don’t forget the Credit Union Cherry
Blossom Ten Mile Run is April 6, 2008!
Congressional Federal Credit Union is a founding sponsor of this world-class race that benefits the Children’s Hospitals. Year after year, thousands of runners pound the pavement to make a difference.
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Who Needs Uninsured & Underinsured Motorist Protection? You Do!
If you are involved in an accident with an uninsured driver, you have very little chance of collecting damages from that driver. But did you know that you can rely on your auto insurance coverage if the other driver is legally responsible for the accident and is uninsured, or has coverage but not enough to cover your injuries and is underinsured?
Uninsured motorist coverage will pay for injury expenses incurred should you, your family members or passenger be involved in an accident with an uninsured motorist. This coverage also provides protection for a hit-and-run accident or an accident with a driver who has less insurance than required by law.
Underinsured motorist coverage comes into play when the other driver is found legally responsible for an accident and has coverage, but not enough to cover your injuries. If your coverage limits are higher than those of the at-fault-driver, this coverage will absorb the additional expenses.
To learn more about Credit Union Insurance Services and/or to receive a free quote call (800) 491-2328 or visit
CongressionalFCU.org.
Insurance products are not deposits of the Credit Union and are not protected by the NCUA. They are not an obligation of or guaranteed by the Credit Union and may be subject to risk. Any insurance required as a condition of an extension of credit by the Credit Union need not be purchased from the Credit Union and may be purchased from an agent or an insurance company of the customer’s choice. Credit Union Insurance Services is a subsidiary of the Credit Union. Business conducted with Credit Union Insurance Services is separate and distinct from any business conducted with the Credit Union.
Our members who
switched saved
$441per year
on insurance.Credit Union Insurance Services has saved our members several hundred dollars this year when they switched their homeowners and/or auto insurance to us. Call us today (800) 491-2328, extension 2700 for a free comparison quote! |
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Donate Your Dividends
For the past seven years, Congressional Federal Credit Union, along with many other credit unions and partner organizations, has raised over $1,500,000 for Children’s Miracle Network. Thanks to your support, donation amounts continue to increase each year.
This year, we are making it even easier for you to help! Our "Donate Your Dividends" program allows you to donate the dividends on your primary savings account during the month of March. Simply call the Credit Union or email
mturner@congressionalfcu.org to participate. Your donation will go twice as far, as the Credit Union will match all dividends donated.
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