CU Spotlight
The Quarterly Newsletter of Princeton University Federal Credit Union

Spring 2004

What’s New @ PFCU

Our credit union is undergoing change, and the staff at PFCU welcomes the opportunities that come with it. With recent increases in membership, financial services offered and member needs, your credit union has implemented a plan to address improving member services, while maintaining the “personal touch” that our members have enjoyed for more than 30 years.

The implemented changes underway at PFCU include:

More Staff To Serve More Members
In January 2004, we relocated a majority of our administrative staff from the Armory Building Office to a new location at 29 Emmons Drive, Suite A-20. This move afforded us the office space to increase our member service staff, and we did just that. PFCU now serves 10,000 members! Since January, we have welcomed a Loan Interviewer and 2 Member Service Representatives to our credit union team at the Armory.

A Solution For Telephone Communications With PFCU
Many of our members have asked us to improve telephone communications for the credit union. We are happy to report that a Call Center was installed at the Armory Building in June 2004 to handle incoming calls to the credit union. On average, the credit union receives approximately 3,000 incoming calls per month. The Call Center will enable us to dedicate resources to answer incoming calls from a centralized facility.

We believe the changes implemented by your credit union will pay immediate dividends. If you have any questions or comments, please feel free to contact us at (609) 258-5038, or e-mail PUEFCU@princeton.edu. We look forward to hearing from you.

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Check Out Our Redesigned Website!

If you’ve been to our website lately you must have noticed a few changes. This past April we had our site redesigned to better suit the needs of our members. It’s easier to navigate, and has a fresh new look. If you haven’t been there, what are you waiting for? Stop by www.princetonfcu.org today!

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Summer Fun With Our New VISA® Credit Card!

Plus:
• No Annual Fee
• No Minimum Finance Charge
• No Transaction Fee On Purchases
• Cash Advances At ATMs Worldwide
• 25-Day Grace Period On All Purchases
• And More!

When you’re ready for some fun in the sun this summer, take along a Princeton FCU VISA Credit Card! Once you use it, you won’t want any other credit card in your wallet. With a great low rate, you can use it at the beach, at the amusement park, or anywhere else your summer fun takes you.

Apply Today!
To sign up for your new VISA Credit Card, stop by, call (800) 404-8734, or request an application online at www.princetonfcu.org.

*APR=Annual Percentage Rate.

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Wherever You Travel This Summer Your Credit Union Is With You – 24/7!

This summer you can travel anywhere you want, and your credit union, with all of its conveniences, will be there for you. From our website to credit cards, to depositing your paychecks, we have many ways to help make your summer vacation worry-free!

Just take a look:

• CU Direct Online Banking
• Bill Payer – Online Bill Paying Service
• Share Draft/Checking Account
• Consumer Checking Account
• VISA® Debit Card
• ATM Card
• Direct Deposit (ACH)
• Payroll Deduction
• CALL 24: 24-Hour Telephone Access

Learn All About Them At www.princetonfcu.org!
Don’t forget, these products and services aren’t just for when you’re away. When you’re on the go, or too busy to get to the credit union, you’ll appreciate the convenience of these options.

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Your Loan For Fun In The Sun Is Here!

That do you want to do this summer? We want to help you get to the beach, buy a boat, do some back-to-school shopping, or achieve any other financial goal. Our Personal Loans are your all-purpose loan solution for big
purchases. Our Personal Line of Credit Loans are perfect for when you need some extra cash. Don’t let a temporary cash shortage put a damper on your summer plans.

Apply Today!
You can apply anytime at www.princetonfcu.org! You can also stop by the credit union or call (609) 258-5038 for an application.

*APR=Annual Percentage Rate. Contact the credit union for complete loan details.

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Dollars & Sense
Preparing For Homeownership

Are you thinking about buying a house? Are you worried about applying for a mortgage? Let Princeton Federal Credit Union (PFCU) make your mortgage experience smooth and easy. Together with PHH Mortgage Services, we are dedicated to meeting all of your mortgage needs with ease, speed, flexibility, and the same superior service you have come to expect from PFCU. We’ll make preparing for home ownership the fun and exciting experience it should be.

Preparation is paramount when financing a home. At Princeton Federal Credit Union, we understand the mortgage process inside and out, and we’re here to help you plan every step of the way. To ensure a smooth process, we’ve provided some helpful tips below.

• Before you begin looking for a house, check your credit history and take steps to correct any errors. You can request a copy of your credit report from any of the three national companies that lenders use – Experian (800-311-4769 or www.experian.com), Equifax (800-685-1111 or www.equifax.com), or Trans Union Corporation (800-888-4213 or www.transunion.com). A fee may apply.
  
• Then, find out how much you can afford for your new home by applying for a pre-approved mortgage through PHH Mortgage Services.
  
• When budgeting for your new home, don’t forget about hidden costs such as property taxes, utility costs and hookup fees, maintenance, moving costs, and closing costs. PHH Mortgage Services’ expert mortgage consultants can
  estimate these costs for you and provide a clear idea of exactly how much money you will need.
• During your planning phase, seek advice from friends or family members who have experience with the mortgage process; they are a great source of information about home financing.

Whether you’re a first-time homebuyer or an experienced homeowner, PHH Mortgage Services is ready when you are. PHH Mortgage Services guarantees:

• To provide you with a same-day loan decision or pay you $250
  
• To beat any lender’s price or pay you $500*
  
• To meet your requested closing date or reduce your interest rate by 1/8 of 1 percent for the life of your loan**

Financing provided by PHH Mortgage Services, 3000 Leadenhall Road, Mt. Laurel, NJ 08054. Arizona Residential Mortgage Licensee #BK 00010039; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act; Georgia Residential Mortgage Licensee; Illinois Residential Mortgage Licensee; Massachusetts Licensed Lender #ML1653; New Hampshire First Mortgage Banker #5625-MB & Second Mortgage Home Lender #5626-MHL; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker - NYS Banking Department; Rhode Island Licensed Lender; Minnesota - This is not an offer to enter an interest rate lock-in agreement. Licensed First Mortgage Banker and Secondary Mortgage Lender by Pennsylvania Department of Banking.

*A customer must provide a complete, system generated Good Faith Estimate, listing a specific lender’s name, that is dated the same day as the rate quoted by us. If such Good Faith Estimate indicates an equivalent or lower interest rate and closing costs package for the same loan program that is offered by us, and we have verified the accuracy of the rate and fees listed, then we will have the option of beating that lender’s total loan costs by $100, or paying the customer $250 ($500 for properties located in California) when they close with that lender and provide us with a copy of the signed Note and final HUD1 settlement statement. **Approved, conventional, purchase loans only.
2740-015-11-02

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Bulletin Board

Holiday Closings
The credit union will be closed to observe the following holidays:
Monday, May 31 – Memorial Day
Monday, July 5 – Independence Day
Monday, September 6 – Labor Day

Changing Addresses?
If you are moving, we need to know. Please notify us in writing that your address has changed. We want to make sure you receive your important credit union information in a timely manner.

Night Depository Available
Our night depository box, located in the ATM room of the main credit union office, is available for any after hour check deposits. Deposit envelopes are available on the premises.

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How To Protect Your Credit And Your Good Name

Every year, over 500,000 people become victims of identity theft, and that number is growing. Identity theft occurs when someone obtains your personal information (social security number, credit card number, etc.) and then uses it to fraudulently apply for credit, make purchases, and/or withdraw money from your accounts, seriously jeopardizing both your financial health and your credit standing. There are many things you can do to reduce the risk of identity theft.

• Do not routinely carry credit cards you rarely use, your social security card, or any other non-essential items that contain personal information. Limit the number of credit cards you have and cancel any inactive accounts. Any of these can give an identity thief the opportunity to access not just the information on the cards, but also further personal data. For example, once identity thieves have your social security
  number, they can apply for a credit card or a driver’s license, access important personal records, and begin to assume your identity – all with this one number.
  
• Never leave your purse or wallet unattended at work, at restaurants, at health fitness clubs, in your shopping cart, or at parties. Never leave your purse or wallet in open view in your car, even when locked.
  
• Never give any credit card, financial institution, or social security information to anyone that has contacted you over the telephone or Internet. When you contact a company, make sure you are comfortable with the company and the representative before providing any personal information.
  
• Destroy all checks immediately when you close a checking account. Destroy or keep in a secure place any courtesy, cancelled, or unused checks that your financial institution or credit card company may mail you. Shred any unused credit applications sent under your name.
  
• Carefully monitor financial statements (bank, credit union, credit card, investment statements, etc.) so that you may detect any unauthorized use to your financial institution or credit card company and immediately report lost or stolen checks to your financial institution.
  
• If regular bills fail to reach you, contact the company to find out why.
  
• Memorize your passwords and personal identification numbers (PIN). Never keep your PIN with your ATM/debit or credit cards and never give out your PIN to anyone. Shield the ATM keypad when entering your PIN and always take your receipt with you. Always request your credit card receipts and/or carbons.
  
• Photocopy or list all credit and identification cards you carry with you. Include both the front and back as well as corresponding customer service phone numbers so you can quickly contact the issuers to inform them of lost and/or stolen cards. Keep this information in a secure place (not your wallet or purse).
  
• Do not put outgoing mail in your mailbox. Take the time to drop it into
  a Postal Service box (especially bill payments). Identity thieves can obtain personal information by stealing outgoing mail.
  
• Once a year, order a copy of your credit report and check it for accuracy. There may be a charge for this copy.

PFCU is always happy to answer any questions you might have about your accounts, about identity theft, or any other financial concerns. Call us immediately if you suspect tampering with any of your accounts. We will work with you to stop unauthorized use of your accounts, and help you get things back to normal again as quickly as possible.

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Privacy Policy Statement
Your Privacy Is Important To Us!

Princeton University Federal Credit Union (PFCU) is committed to making available financial products and services that will enable our members to meet their financial needs and satisfy their financial goals. Protecting our members’ personal information, and using it in a manner consistent with their expectations is a high priority for everyone associated with our credit union. Members of PFCU also have a responsibility to safeguard their own financial information.

To ensure that our members can rely upon the quality of products and services we make available, PFCU stands behind the following Privacy Policy:

• Our credit union will collect only the personal information that is necessary to conduct our business. That means just what is necessary to provide competitive financial products and services – no more.
  
• Our credit union will protect your personal information. Our credit union will maintain strong security controls to ensure that member information in our files and computers is protected.
  
• You will always have access to your information. As a member of our credit union, you will always have the opportunity to review your information and make necessary changes to ensure that our records are complete and accurate.
  
• Our credit union will only share information when absolutely necessary. We will only share information to administer the products and services we provide, when required to do so by the government, or when we partner with other businesses to offer a broader array of products and services.
  
• Our credit union will partner only with businesses that follow strict confidentiality requirements. The businesses we select will offer products designed to enhance our members’ economic well being. Under no circumstances will we authorize these firms to charge your account without your express consent, and we will not sell member information to telemarketing firms.
  
• Our credit union will offer you a choice in how your information is used. Any member of our credit union may elect to keep their information from being shared with our business partners. You may exercise your choice by contacting
  the credit union at (800) 404-8734 or (609) 258-5038 and we will take all reasonable steps to make sure your requests are followed. At least once a year, we will remind all members of your right to choose.

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Spotlight On SEGs

Welcome to a new feature in CU Spotlight: “Spotlight On SEGs.” Each issue we will feature one of our Select Employee Groups, and you’ll learn about what they do and who they are. This issue we feature Recording for the Blind & Dyslexic®.

Recording For The Blind & Dyslexic
For more than 55 years, Recording for the Blind & Dyslexic® (RFB&D®), a national nonprofit organization, has provided a solution for students with print disabilities such as visual impairment or serious learning disability by providing recorded textbooks and educational materials. Based in Princeton, NJ, RFB&D’s unique collection of 98,000 titles is an educational lifeline for more than 127,000 students in kindergarten through graduate school, including nearly 7,000 students in New Jersey.

“RFB&D is unique in the world, in the number and variety of titles that we provide to students with disabilities that make reading challenging or impossible,” said Richard O. Scribner, RFB&D’s president and CEO. “Our recorded textbooks ensure that access to the printed page does not stand in the way of educational success for motivated and ambitious students.”

RFB&D was originally established in 1948, in an attic space at the Yorkville branch of the New York Public Library. Moved by the plight of blinded World War II servicemen seeking to pursue a college education, New Yorker Anne Macdonald convened the library’s Ladies Auxiliary to begin recording textbooks on a request-by-request basis.

As word of RFB’s services spread, so did its appeal among students with other physical disabilities, including dyslexia. Students with learning disabilities found that recorded books were an effective tool to accommodate their reading needs as well. By 1995, this population of individuals with learning disabilities using RFB’s services grew to such a significant extent that the organization formally changed its name to Recording for the Blind & Dyslexic.

“As I listened to the tape I could comprehend so much more. My test grades improved because I was getting so much more out of each book I read,” adds Rachel Russell of Flanders.

RFB&D relies on the service of more than 5,000 highly trained volunteers to read and record books in 28 special recording facilities from coast to coast, including a studio
at St. Joseph’s Seminary in Plainsboro.

The New Jersey Unit of RFB&D was formed in 1957. In a space generously provided by the Princeton Theological Seminary and an annual budget of $4000, they began
providing free recorded textbooks for students. Since its founding, the New Jersey Unit has recorded nearly 6,000 titles for the master collection which is housed at RFB&D’s national headquarters on Roszel Road. The titles prepared by New Jersey’s 375 volunteers and their counterparts across the country make it possible for RFB&D to circulate nearly a quarter of a million books among students nationwide every year.

In 2002, RFB&D introduced its inaugural collection of books on CD called RFB&D’s AudioPlus® textbooks. The content of a standard textbook now fits on a single CD, eliminating the need for students to sort through a series of cassettes to find the page, chapter or section they might need at any given time.

In addition to convenience and portability, RFB&D’s AudioPlus books provide unprecedented navigation features that allow students to jump from page to page or chapter to chapter with the touch of a button. RFB&D’s AudioPlus textbooks can be accessed on specialized CD players or with specialized software, on standard multimedia PCs.

To make RFB&D books even more accessible to students, RFB&D has partnered with over 6,000 schools nationwide to incorporate RFB&D’s Learning Through Listening® programs into classroom curricula. Here in New Jersey, RFB&D has partnered with 312 schools to provide students with disabilities with unique accommodations right in the classroom.

For more information about membership at RFB&D, or to learn about ways to support RFB&D through financial contribution or volunteer service, visit www.rfbd.org.

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Make A Splash With A Home Equity Loan!

Get a Home Equity Loan help you achieve your financial goals this summer. Add a deck, remodel the kitchen or bath, take a special vacation, and more. Even better, the interest on a Home Equity Loan is tax-deductible for most members (consult your tax advisor for eligibility). We have two options available:

Fixed Rate Home Equity Loan
Take advantage of our low fixed rate and choose a term of up to 15 years to repay. The rate will be in effect for the term of your loan. You can borrow up to 100% of the equity in your home minus your first mortgage.

Variable Rate Home Equity Line Of Credit
With our variable rate Home Equity Line of Credit, the credit union will lend you an amount equal to as much as 100% of the equity in your home, less the first mortgage. The rate will be based on the prime rate, is reviewed monthly and adjusted as necessary on the first day of the month.

Your All-Purpose Loan Solution!
It’s easy to apply. Call (800) 404-8734 or stop by the credit union to apply, or request a home equity packet online at www.princetonfcu.org.

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