— Make a 'clean sweep' of your high-rate debt away with our 8.24% APR balance transfer offer
— FREE! First Time Home Buyer Workshop at RTN Danvers on March 25th
— Send your tax refunds to your Credit Union account
— Keep more of what you earned in 2009 with the earned income tax credit.
— Secure E-Mail is here
— Enterprise rent-a-car Credit Union member discount
— Members Advantage Newsletter Contest Winners for February
— RTN: Always a consumer-friendly credit card
— Tax Credits and Rebates Inspire Energy Related Upgrades
— RTN receives the 2009 Bauer Award for being a 5-star credit union again!
— Increased NCUA Federal Share Insurance Coverage Extended through 2013
— Access your RTN account at over 6,400 shared branch locations nationwide!
— International wires require an IBAN
Sweep your high-rate debt away. Hurry offer ends March 31, 2010.
...with a low 8.24% annual percentage rate variable rate balance transfer from the Credit Union.
Simply complete the Clean Sweep balance transfer form listing the non-RTN credit cards and bills you want to pay with our low balance transfer variable rate program. Why pay Home Depot 24% APR or Citibank 28% APR when you may cut the rate by ½ or more? For details, visit any office or contact Member Services at 1-800-338-0221, ext. 9829, or info@rtn.org. If you currently do not have an RTN credit card, please complete the Loan Application — Express in addition to the Clean Sweep balance transfer form and bring them to any Credit Union office.
FREE! First Time Home Buyer Workshop on March 25th
from 6:00 pm - 8:00pm at our RTN Danvers office.
Join us for our First Time Home Buyer Workshop. It may be just what you need to conduct your home search with confidence. RTN's mortgage professionals will explain the various stages in the home buying process from mortgage pre-approval to closing. Bring your questions and concerns so that we can help you realize your dream of home ownership. Seating is limited so make your reservation today by contacting our Mortgage Department via email or by phone at 1-800-338-0221, ext. 9859.
Send your tax refund to your Credit Union account
When completing your federal and state tax return this year, be sure to choose to have your refund sent to your RTN FCU account. It's easy. Here's how:
- Our routing number is 211386445
- For checking, enter the account number as printed on the bottom of your check and mark the 'Checking' box.
- To send the funds to your Main Share (savings) account, simply enter the 'Member number' as printed on the top of your statement and mark the 'Savings' box.
Keep more of what you earned in 2009 . . .
The Earned Income Tax Credit (EITC) is a federal tax credit for working individuals and families. If you are eligible, the EITC can reduce the amount of tax you owe, and it may give you a refund!
To be eligible to claim the EITC on your 2009 tax return, your Adjusted Gross Income must be less than:
> $13,440 ($18,440 if married, filing jointly), if raising no children in 2009
> $35,463 ($40, 463 if married, filing jointly), if raising one child in 2009
> $40,295 ($45,295 if married, filing jointly), if raising two children in 2009
> $43,279 ($48,279 if married, filing jointly), if raising three or more children in 2009
> Investment income cannot be more than $3,100
In addition to income level, there are other qualifications. For more information, obtain IRS Publication 596. You can download this and other publications from the IRS Web site at www.irs.gov, or you can get a copy by calling the IRS at 1-800-TAX-FORM (1-800-829-3676).
New secure e-mail is here
To better protect your privacy and identity the Credit Union has changed the way we communicate with members. When we send (or respond to a message) containing sensitive information — such as your Social Security number, member account number, and numbers for debit card and credit cards (or information thought to be sensitive) — the communication will be delivered via our secure email center provided by a ZixCorp email portal that is encrypted to shield this information from undesirable external parties on the Internet.
When a message containing sensitive information is sent to you from the Credit Union, you will receive a notification email stating that you have received a message from the RTN Secure Email Portal. You will then log into your Secure Email Center account and view all messages and attachments over a secure SSL connection. First time users need to register their email address and create a password in order to access their emails to/from RTN.
Please note: For those initiating an e-mail containing sensitive information, the Credit Union strongly suggests using the secure messaging system available through our online banking program, which requires a secure log-in from our website. Simply click on "Contact Us" in the blue menu bar to send or receive a message. Unless you know you are using a secure e-mail system, you should refrain from including such privileged or private information.
Thank you for your cooperation in understanding how these changes have been made to serve you better.
If you have a problem accessing your RTN secure email account, contact support@zixcorp.com for assistance.
Member Advantage Newsletter Contest
Congratulations to the following Winners who each won $25 in February!!
(Last names withheld to respect privacy concerns)
1. Geraldine B. of Seabrook, NH
2. Charlotte M. of Braintree, MA
3. Maria N. of Lynnfield, MA
4. Joseph S. of Waltham, MA
The February 2010 issue of Member Advantage instructed members to find a special phrase and then leave a voicemail message reciting the whole sentence from the newsletter containing this phrase. Four winners were chosen at random from the field of members correctly following these instructions. Watch for more newsletter contests in upcoming issues! Thank you for your continuing interest in Member Advantage where you’ll always find value and a bit of fun too!
RTN: Always a consumer-friendly credit card option
The news has been filled over the past few weeks with changes many credit card issuers have made in order to increase their earnings before the first of many pro-consumer changes become effective. These include sharply increased interest rates, higher late payment penalties, and decreased credit lines, just to name a few. Many articles have recently been written discussing these issues.
Here at RTN Federal Credit Union, none of these types of changes have taken place. As has been the case for 20-plus years, our card programs have always offered excellent value. Our rates are among the lowest you will find (excluding their temporary 'gotcha' rates designed to hook you in) and our VISA Gold and VISA Platinum rewards programs pay full value on every purchase, unlike many cards offered by other issuers.
So if you (or a sister, spouse or significant other) are not receiving the respect you deserve when using your credit card, get more details on our credit card programs and apply for your RTN VISA card online today!
Tax Credits and Rebates Inspire Energy Related Upgrades
It’s good to know that your Credit Union is ready when you are with Home Equity and Home Improvement Loans for prudent purposes. And what could be more prudent than taking advantage of a stimulus package for the average consumer that’s designed to not only boost the economy, but conserve energy too?
The federal government is encouraging you to invest in energy related improvements in 2009 and 2010 with tax credits that are significantly more generous than in previous years. You may qualify for a federal tax credit equal to 30% of the cost of upgrades such as highly rated heating or cooling systems, water heaters, replacement windows, and insulation (subject to a maximum credit of $1,500). Installing solar panels, geothermal heat pumps, and windmills also receive a 30% credit -- without a cap!
If you’re lucky, your investments may also qualify for additional incentives offered by state governments or utility companies.
The following websites can offer more guidance on what projects may qualify for tax credits or other incentives.
• ase.org/consumers – Alliance to Save Energy
• energystar.gov – Government approved energy programs and products
• aceee.org/consumer – American Council on Energy-Efficient Economy
Please note: RTN does not advise on tax situations. In all matters related to taxes, be sure to consult your tax professional for qualifying conditions and guidelines.
Remember, the Credit Union is ready when you are with low-cost Home Improvement Loans and Home Equity Loans to realize your money-saving, energy related investments. What’s more, your finance charges may qualify for a federal tax deduction (please consult a tax professional for qualifications).
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 59th 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. IRAs are insured separately to another $250,000.
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:
|
Single Accounts (owned by one person)
Joint Accounts (two or more persons)
IRAs and certain other retirement accounts
Trust Accounts
|
$250,000 per owner
$250,000 per owner
$250,000 per owner
$250,000 per trustee per beneficiary
|
The following is a simplified example of the NCUA coverage reviewed above:
|
Amount
$ 250,000
$ 500,000
$ 250,000
$ 250,000
$1,000,000
$2,250,000
|
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
|
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.
|
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.
|
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.
|
Did you know you have access to your RTN account at over 6,200 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.
IBANs Now Required for Many International Wires
The following 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.
 |
