— Enterprise Sizzling Summer Sales Event: July 1- 4
— Go green with your credit card eStatement & WIN $100 gift card by enrolling!
— Announcing . . . the 2009 James. A. Burley Scholarship Winners
— RTN receives the Exceptional Performace Credit Union Rating
— Increased Federal Share Insurance Coverage Extended through 2013
— Access your RTN account at over 5,800 shared branch locations nationwide!
— 24/7 Member Service
— International Wires Now Require an IBAN
Enterprise Sizzling Summer Sale Event*
Going on now: July 1 – 4
Enterprise will give you Kelley Blue Book Trade-In Value PLUS $700 when you purchase a used vehicle from Enterprise Car Sales. You’ll also get a great auto loan rate with us too! Preview the Enterprise inventory online or shop one of their following locations:
Canton, 348 Turnpike St., (781) 830-5220
Tewksbury, 818 Main St., (978) 863-9006
Woburn, 248 Mishawum Rd., (781) 932-1704
Get pre-approved for your auto loan today. Print out your loan application now or apply via the phone at 1-800-338-0221, option 3.
*Enterprise will be appraising your vehicle and mileage to determine the Bluebook trade-in value. If the BlueBook value is not available, Enterprise will determine a fair and competitive trade-in value for a customer’s vehicle. Customer/member is responsible for any loan amounts that exceed the Enterprise offer. Customer must provide proof of ownership/registration and all necessary paperwork to transfer title. Offer valid only when purchasing a vehicle from Enterprise. Not to be combined with any other offer. Offer valid 7/1/09-7/4/09.
Go Green with credit card eStatements!
Enroll by July 31 & Get a chance to win a $100 Gift Card!
Help save the environment — and improve your recordkeeping — by choosing to receive your Credit Union VISA/MasterCard monthly statements online. You benefit by having access to the statement sooner than receiving a paper statement in the mail while also helping the environment.
Download your enrollment guide now and then access your online credit card account in order to sign up. Once you enroll in credit card eStatements you will be automatically entered into the drawing.
(No purchase necessary. Get the complete sweepstakes details now.)
Bonus Offer: An additional drawing for one $100 gift card is sponsored by the Credit Union to include all RTN members who sign up for our new credit card estatements between now and July 31.
Announcing . . . the 2009 James A. Burley Scholarship Winners
1st place: Kayla L., Salem, NH
2nd place: Anthony D., Georgetown, MA
3rd place: Catherine M., Arlington, MA
Congratulations to the winners & special thanks to all students who participated.
The Board of Directors and management of the Credit Union are pleased to announce that the Credit Union has been recognized by BauerFinancial, Inc., of Coral Gables, FL, for earning its highest 5-Star Superior rating for financial strength and stability. This represents the 53rd consecutive quarter that RTN Federal Credit Union has earned this highest honor, giving it the added distinction of being an “Exceptional Performance Credit Union”.
| “It gives me great pleasure to announce that there are still financial institutions, like RTN Federal Credit Union, that continue to build a sense of a security in this insecure world,” heralds Karen L. Dorway, president of BauerFinancial. “RTN Federal Credit Union’s members have the privilege of belonging to a well-run, common sense credit union. They can sleep soundly in the knowledge that they belong to one of the strongest credit unions in the country.” |
Increased Federal Share Insurance Coverage of $250,000 Extended to December 2013
Effective on May 20, 2009, all RTN Federal Credit Union members will receive an additional four years of increased National Credit Union Administration (NCUA)insurance coverage on funds on deposit with RTN Federal Credit Union. This increased coverage is automatic for all members and is available to at least $250,000 on each account by ownership type.
The NCUA is the federal agency that charters and supervises federal credit unions and insures savings in federal and most state-chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government. No one has ever lost a single penny of NCUA-insured funds.
NCUA insurance covers balances in all RTN Federal Credit Union accounts, including the main share, checking, money market, club and savings certificate (“CD”) accounts. Members can obtain additional information on their insured funds by clicking on the NCUA's Share Insurance Tool Kit.
To ensure funds are fully protected, depositors should understand their share insurance coverage limits. The NCUA provides separate insurance coverage for shares held in different ownership categories such as single accounts, joint accounts, Individual Retirement Accounts (IRAs) and trust accounts.
NCUA share insurance coverage limits are as follows:
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Single Accounts (owned by one person)
Joint Accounts (two or more persons)
IRAs and certain other retirement accounts
Trust Accounts
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$250,000 per owner
$250,000 per owner
$250,000 per owner
$250,000 per trustee per beneficiary
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The following is a simplified example of the NCUA coverage reviewed above:
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Amount
$ 250,000
$ 500,000
$ 250,000
$ 250,000
$1,000,000
$2,250,000
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Owner(s)
Single Account (Husband)
Joint Account (Husband and Wife)
IRA Account (Husband)
IRA Account (Wife)
Revocable Trust Account (Husband and Wife, trustees, for Son and Daughter, beneficiaries)
Total NCUA Insurance Coverage
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These examples are provided for illustrative purposes only. Please ask to have your account reviewed for a coverage analysis specific to your situation.
The Credit Union also offers members additional protection on amounts above NCUA-insured levels by the Massachusetts Credit Union Share Insurance Corporation (MSIC). Members receive the additional coverage via this private insurer automatically. The total insured amount increases significantly through this combination: for example, individuals receive an additional $350,000 in coverage and joint accounts receive an additional $1 million in protection.
Click here for examples on how your funds are insured by the NCUA and MSIC.
Click here for the media release issued by BauerFinancial, Inc.
For more information on your RTN Federal Credit Union account, or on your NCUA and MSIC insurance, please speak to any credit union representative or contact Joseph Connors, Vice President, Marketing, at 1-800-338-0221, ext. 9850 or jconnors@rtn.org.
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Why the Credit Union remains your steady financial resource during these challenging times.
Your funds — including your Money Market Account — are insured by the NCUA and MSIC.-
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With the recent news of problems being experienced by many banks due to poor lending decisions, the Board of Directors and management of the Credit Union believe there is no better time to provide a refresher on how your account at the Credit Union is unaffected by events you see on the news. A few members have had questions regarding their share insurance coverage and if we have been affected by the mortgage crisis.
The short answer to these questions is as follows.
Our sound mortgage practices
Stated simply, the Credit Union did not abandon sound mortgage underwriting practices years ago in the pursuit of 'doing business at any cost.' As such, we are not experiencing the delinquency and foreclosure problems being felt by other lenders. Our loan delinquency levels remain at very, very low levels.
Click here for more information on the share insurance RTN FCU members receive and on our sound mortgage practices.
Money Market Account
Recent news about some money market mutual funds having lost market value has prompted a number of questions about the insurance protection on the Credit Union's Money Market Account.
Our money market account is another form of deposit account held by you in the Credit Union in the same way you invest in Credit Union share certificates, IRAs and club accounts. All accounts are insured by the NCUA and MSIC up to legal limits.
Click here for more information on your Credit Union Money Market account and how it is insured by the NCUA and MSIC.
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Did you know you have access to your RTN account at over 5,800 shared branch locations nationwide?
RTN offers you access to your account via our partnership with CU Service Centers. The CU Service Centers shared branch network allows RTN members to conduct many account transactions with a teller at various credit union locations throughout the U.S. Traveling to Florida, off to an out of state college or relocating? No problem! Remaining an RTN member is easier than ever. Get more details on shared branching or find a CU Service Center shared branch location now.
24/7 Member Service
With nearly everyone having hectic schedules these days, it’s nice to know we are expanding service to our members 24 hours a day! Members are now able to call the Credit Union at either 1-800-338-0221 (choose option 1 for Member Service) or (781) 736-9829 anytime of the day or night to apply for a loan, receive rate quotes, report a lost or stolen credit or debit card, get a book value on a used car, locate an ATM or nationwide branch location, or virtually any other type of service or information request.
IBANs Now Required for Many International Wires
Effective January 1, 2007, 30 countries require the use of an International Bank Account Number (IBAN) for wire transfers. These countries are:
| Andorra |
Gibraltar |
Netherlands |
| Austria |
Greece |
Norway |
| Belgium |
Hungary |
Poland |
| Cyprus |
Iceland |
Portugal |
| Czech Republic |
Ireland |
Slovak Republic |
| Denmark |
Italy |
Slovenia |
| Estonia |
Latvia |
Spain |
| Finland |
Lithuania |
Sweden |
| France |
Luxembourg |
Switzerland |
| Germany |
Malta |
United Kingdom |
If you expect to be wiring funds to any of the countries listed above, please note that a specific IBAN is now required to process the wire order. The IBAN is a combination of country, financial institution and account number information. The number of characters contained in an IBAN will vary by country.
We have been advised that wires without this important number will be returned. Returned wires may be subject to loss of funds due to exchange rate variations and fees charged by the receiving institution.
Please contact your foreign financial institution to be certain of the IBAN number of your (or your beneficiary’s) account there. Because of privacy regulations, RTN will not be able to get an IBAN for you. In this situation we must rely on our members to present complete and accurate IBAN information.
More information including an IBAN checker function can be found on the website of APACS, the UK association for overseas institutions delivering payment services to customers.
We hope these details prove helpful to any foreign wire transfers you may request from RTN in the future. If you have any questions about these new procedures, we will do our best to assist you.
The Credit Union thanks you for your cooperation in this important matter.
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