Connect with NEFCU. February Newsletter

NEFCU Acquires Health One Credit Union
We’ve expanded into Michigan and Ohio!
Your Credit Union continues to grow with
the acquisition of Health One Credit Union,
serving members in Michigan and Ohio!
The acquisition, which was finalized on
December 12th, makes HealthOne a
division of NEFCU and adds more than
3,000 members and $15 million in assets
to Vermont’s largest Credit Union. The
acquisition of
HealthOne is part
of NEFCU’s strategy
to expand into new
markets that provide
opportunities for future
HealthOne serves
employees of
Blue Cross Blue Shield in Michigan, and
Medical Mutual in Ohio, in addition to its
community charter. The institution was
placed into conservatorship in May 2014
by the Michigan Department of Insurance
and Financial Services, which together with
the National Credit Union Administration
(NCUA), managed HealthOne prior to
the acquisition, according to John Dwyer,
President and CEO of NEFCU.
“As a result of NCUA’s intervention, and
following a thorough review by our own
Federally insured by NCUA
team, we have found HealthOne to
be a worthwhile addition to NEFCU,”
said Dwyer. “In order for us to continue
to provide the types of services and
technologies that our members have
come to expect, it’s important that we
look for opportunities for growth that
are consistent with our strengths and
our strategic goals. Expanding out of
state through this
acquisition is a
sensible approach
that will benefit
members of both
Chartered in
1957, HealthOne
serves employees of the Blue Cross
Blue Shield in Michigan as well as
persons residing, working, worshipping,
volunteering and attending school in
the counties of Macomb, Oakland,
Washtenaw, and Wayne. HealthOne also
serves employees of Medical Mutual of
Ohio in Cleveland, Ohio. HealthOne
members will experience no interruption
in services as a result of the acquisition
by NEFCU, and their accounts will remain
February 2015
Nursing Scholarships Available
NEFCU’s Nursing Scholarship
program pro­motes education in
the medical field while supporting
individual student’s career goals. This
year, NEFCU will award three $3,000
scholarships to NEFCU members
applying to or enrolled in an
undergraduate or graduate nursing
program. Applications are available at
any NEFCU office or online at and must be postmarked
no later than February 28, 2015.
Holiday Closing
The Credit Union will be closed
on Monday, February 16, in
observance of Presidents’ Day. You
can access your accounts 24/7 with
Mobile Banking, NEFCUOnline, ATMs
or by calling Accountline.
Annual Meeting Notice
The NEFCU 2015 Annual Meeting
will be held on Wednesday, March
25 at 5:00 pm at the Credit Union’s
headquarters at 141 Harvest Lane
in Williston. Our guest speaker,
Dr. Art Woolf from the Economics
Department at UVM, will discuss
some of the myths and realities of
Vermont’s economy and how that
influences our perceptions and the
reality of Vermont.
Let’s Make a Deal
Getting more out of Presidents’ Day Auto Sales
As the Presidents’ Weekend auto events
approach, here are a few time-tested tips to
help save you time and money:
approach, contact one of our loan officers who are
always happy to help you set a budget.
3. Get Your Financing First: Too often, dealer financing
costs folks hundreds or thousands of dollars when it’s
slipped in after the sale. Here’s a smarter approach: talk
to NEFCU. We’ll set you up with a pre-approved loan
so you can focus on negotiating the best price on your
vehicle. Then, if you end up finding a better financing
offer, you’re that much better off. (Don’t forget, you can
get NEFCU financing at many local dealerships – just
1. Know Before You Go: Learn as much
as you can about your preferred vehicles
before you enter the dealership. Go online
to study the models, features, and available
trim levels so you can focus only on cars
that are a good fit for you.
2. Know What You Can Afford: A sweet
new ride will sour quickly
if it blows
* All rates
are subject to change monthly, the maximum interest rate is 18%. The
increase after
of the
posted rates; your
your budget. Use ourrate
at the consummation
Want more car-buying
rate could
vary according
credit. to determine
how much
car you to your
or call
us at 866-80-LOANS.
can afford. Or if you prefer the personal
We recently upgraded our core computer
system, laying the foundation for future
products and services. Please be aware
of the following changes that may affect
your NEFCU experience:
• Savings, Certificate, Consumer Loan,
and Business Real Estate Loan account
numbers have been converted to a
straight numerical format.
• Checking account numbers now
display in a numerical format. The
number is already on your checks,
along the center bottom (what the
industry calls the “MICR” number).
• Account Alert options have changed,
and you will need to re-establish
these manually – since the new
options aren’t identical, we can’t do it
• If you had registered for eDelivery, you
will now receive your Monthly, Visa
and Mortgage Statements, as well as
many notices, electronically.
• Some account nicknames
may not have automatically
converted. If you had established
any account nicknames, please
confirm these via NEFCUOnline
at your earliest convenience.
• If you use PFM tools such as
Quicken®, you will need to input
your new account numbers.
• Debit/ATM Card limits have been
changed. The daily withdrawal
limit is now $500, and the daily
purchase limit is $5,000.
• ATM deposits: The first $200 of
aggregate daily deposits will be
made immediately available.
• Foreign ATM fees have increased
from $1.25 to $1.50.
For more information, please see
the Quick Reference Guide that
was mailed to you in January, or
visit the dedicated upgrade website
Seminars at nefcu
Tuesday, February 3
Tuesday, February 10
5:30-6:30 PM
Thursday, February 12
Thursday, February 19
Tuesday, March 3
5:30-6:30 PM
Thursday, March 12
Thursday, March 19
These seminars will be held at NEFCU, 141 Harvest
Lane, Williston. Seating is limited and reservations
are required. All seminars are from 5:30-7 pm
unless otherwise stated. Register at or call 800-400-8790.
Introducing SimplySmarter Checking™
On February 1st, 2015, we introduced a new, simplified Checking
account called SimplySmarter Checking. The new Checking account
replaced NEFCU’s previous range of Participation Reward Checking
programs and bundled their most popular aspects into one simple
account product.
SimplySmarter Checking features a simplified fee structure,
including a standard monthly fee, as follows:
• Monthly Service Fee (with eDelivery of statements)........... $5
• Monthly Service Fee (with paper statements)...................... $7
∙ A primary or joint account holder with deposit and/or loan
balances totaling $25,000 or more
∙ Recurring Direct Deposits into the account, such as payroll or
retirement benefits
∙ A primary account holder who is either under age 25, or age 65
and above
You can manage your settings to choose either eDelivery or paper
statements at NEFCUOnline/eDocuments.
The monthly fee will be waived if you meet any of the following
Please note that all members will now be required to pay for check
reorders, regardless of past relationship history. See the Pricing Schedule
and brochure, mailed to you in January, for complete information about
program details and fees.
∙ An average monthly Checking account balance of $500 or
more in the account
Answers to Frequently Asked Questions and additional information about
SimplySmarter Checking can be found at
Retirement: How Much Do You Need to Save?
Do you know how much you can expect
from Social Security in retirement—or
from any pension plan you have? Do
you know how much you need to save
to make up the shortfall in your desired
retirement income?
Gather information about any traditional
pension and other retirement plans you
have. Request a benefit summary plan,
including when and how you’ll receive
your payments. The Social Security
Administration suspended mailing out
their annual statements in 2011. For an
estimate of your future Social Security
benefit, visit
set up your account.
Then estimate your retirement expenses.
In general, you’ll need about 70% to
80% of preretirement expenses. But
these traditional formulas may leave you
short--due to longer life expectancies,
active retirement lifestyles, higher
I N S U R E.
I N V E S T.
R E T I R E.
Available through CUSO Financial Services, L.P. (Member FINRA/SIPC)
medical expenses, long-term-care costs,
and higher property taxes.
If anything, overestimate for unexpected
spending and factor in annual cost-ofliving increases between now and the
time you retire, as well as throughout
A financial adviser, retirement planning
software, or Internet calculator can help
you calculate how much you need to
save to make up the shortfall in your
desired retirement income. Remember
that even the best advisers and software
can provide only an estimate of your
needs. Your results will change based
on actual investment returns, inflation
rates, tax law changes, changes in
Social Security, and how long you live,
among other things.
Copyright 2014 Credit Union National Association Inc.
Dealing with Transitions in Employment
Wednesday, February 25 * 5:30-7 PM
NEFCU, 141 Harvest Lane, Williston
Thursday, February 26 * 5:30-7 PM
NEFCU, 295 Tuckers Way, St. Albans
Jonathan Whitehouse
Call 802-879-8790 or 800-400-8790 to reserve your seat
today or reserve online at Seating is limited.
Financial Consultant
CUSO Financial Services, L.P.
Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered
broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not
NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve
investment risk including possible loss of principal. Investment Representatives are registered through CFS. New England
Federal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit
union members. CFS and its Registered Representatives do not provide tax or legal advice. For such advice, please
consult with a qualified professional.
[email protected]
802-764-2626 • 800-400-8790