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Melrose Credit Union

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Connections - Summer 2011


Yes, We Have Money To Lend

Take Advantage Of A Melrose Mortgage

funThe housing market continues to be in an excellent place for buyers, making this a great time to purchase that perfect piece of real estate. Melrose Credit Union has money to lend, so if you are in the market for a new home – or if you are thinking about refinancing your current mortgage at a lower rate – now is a great time.

Compared to loans with other lenders, a Mortgage from Melrose Credit Union makes more sense. We are here to help you flourish in all financial areas of your life, so we will ensure a safe and responsible decision.

Take Advantage Of Any Of Our Multiple Mortgage Products

  • First & Second Mortgages
  • Co-Op & Condo Purchase Programs
  • Jumbo & Commercial Mortgages

At Melrose Credit Union, we put your needs first, just as we always have and always will. Let our dedicated and enthusiastic team of Mortgage Consultants walk you through the process and help you make the right financial decisions.







Low Interest, Flexible Loans Can Give You The Boost You Need

Whether it’s day-to-day expenses, costs from repairs to your home, education bills or even vacation dreams, securing a line of credit for your business or buying a business, many budgets are feeling a pinch these days. Stretch your budget further with one of Melrose Credit Union’s flexible loan offerings.

Share Secured Loan – This loan functions like a Personal Loan, but since it’s secured against a Share Savings or Certificate Account, you’ll receive an even better rate. You’ll also receive fast approval.

Business Loan – Melrose has a number of small business lending programs including business line of credit loans and SBA guaranteed small business loans. Let Melrose Credit Union be your business EVOLUTION SOLUTION.

Get Started Today

Stop by or call a Melrose CU loan specialist at (718) 658-9800 to find out which product is right for you. Our rates and terms can help you pay less and start to feel some relief today. To learn more, visit




Help Your Child Learn How EZ It Is To Save

Help your child get excited about saving with a Melrose EZKidz Account.

This free program for members age 6 to 12 teaches children about money management in a fun way, by providing each EZKidz member with a Melrose Credit Union “Kiddy Piggy Bank” to bring back to the credit union when it is full. Your child can use the EZCoin Counter to count the change and use it to make a deposit. Kids get excited about making deposits like grown ups and watching their money grow. Once they get bit by the savings bug, it is something they will take with them into adulthood!

*EZKidz Accounts may be Share or Share Certificate Accounts only. Checking, ATM and Debit Card Accounts are not permitted. A parent or legal guardian must own the account jointly with the child. The child account owner must have a valid Social Security number and some form of identification, such as a birth certificate or school ID.



Services Built For You.

Our services are available around the clock so you can access your money whenever you need!

clockE-Z Checking – Finally Checking that is actually easy! This account provides you with the services you need but without the fees you don’t. There are no monthly maintenance charges or per-check charges and you’ll receive straightforward monthly statements and free starter checks. Even better there are no monthly balances and you’ll earn dividends on average daily balances of $500 or more. You owe it to yourself to take advantage of an E-Z Checking Account.

VISA® Debit Card – Linked directly to your E-Z Checking Account, you can enjoy accessing your account while experiencing the convenience of the VISA network. You can also use it for surcharge-free account access via the CO-OP ATM Network.

Direct Deposit – The most convenient way to receive funds, when you set up Direct Deposit, you’ll receive your check electronically each pay period. There’s no need to wait in line to receive your funds with this safe and secure service.

E-Z Bill Pay – Paying bills just got easy. When you set up this service, you can pay bills – and even people you know – through EZMoneyOnline. Just choose when you want your electronic or personal check payments sent through E-Z Bill Pay and we’ll handle the rest. Funds are withdrawn on the scheduled date andyou can rest assured everything is taken care of. – Providingyou with access to a virtual branch, our website makes it possible to check balances, make payments and learn more about services.

eStatements – The fastest and safest way to receive your monthly credit union statement is electronically. You’ll cut the clutter and have electronic access to your statements whenever you need.

It Doesn’t Get Easier Than This

To learn more or to enroll, stop by Melrose Credit Union or call us at (718) 658-9800.



Annual Meeting

annual meeting




Flood Damage

Are You Covered?

Is my home insured for damage that may result from flooding caused by a storm?

Not necessarily. Generally, coverage provided by a standard home or business policy does not include damage caused by flooding or mudslides. It is important to note this type of damage could be extremely destructive to your property and without insurance you could be devastated financially.

How can I get flood insurance coverage?

First, contact our agency. We have access to comprehensive information and we can help determine if you need flood insurance.

Is flood insurance really necessary?

That is a question you should discuss with our agency. However, you should know that lenders may require flood insurance as a condition of securing a mortgage, home improvement loan, home equity loan, commercial loan, etc. It is important to note that not only high risk areas are prone to flooding.

Flooding can occur anytime and anywhere. One-quarter of flood insurance claims come from outside flood prone areas.

Can I buy flood insurance at any time?

Yes, but in most cases, there is a 30-day waiting period between the time of purchase and the time of coverage. Call MBS now for a Flood Insurance quote. Insure your future, start planning NOW, before it is too late! You can contact an MBS insurance professional at (718) 523-1300 or on the web at or stop by to speak with an MBS insurance PRO, in person. MBS is located on the 3rd floor of the MELROSE CREDIT UNION FINANCIAL CENTER, 139-30 QUEENS BLVD., BRIARWOOD, NY. DON’T DELAY, DO IT TODAY!!





Holiday Closings & Important Dates

Independence Day Weekend
Saturday, July 2, 2011
Monday, July 4, 2011

Labor Day Weekend
Saturday, September 3, 2011
Monday, September 5, 2011

Columbus Day
Monday, October 10, 2011

ATM and Debit cardholders should call Melrose prior to using their card(s) abroad.



Social Scams

Web 2.0 Concerns

With the continued popularity of sites like Facebook, Twitter, MySpace, and FourSquare, it’s no wonder scams are becoming a problem on these social media sites. These sites are great for allowing users to stay connected, but there are risks involved. If you are a social media user, it’s important to protect yourself because tricky identity thieves have become crafty enough to target these technologies, with malware attacks becoming particularly prevalent.

Malware is a term used to describe maliciousprogramming such as viruses, worms and spyware. Malware can gather information about a computer user or turn a computer into a “zombie” or a spam e-mailing machine. These types of attacks are very popular on social media sites.

Fake profiles, phony links and scams like bogus quizzes and contests are especially popular. These links and profiles may contain malicious code that can be downloaded onto your computer if you are not careful. While you should certainly watch for emails and links sent to you from someone you do not know, you should also ignore links from people you do know that seem out of character. If you are unsure about the safety of a link, email or offer, verify its accuracy before proceeding.

Likewise, if you are ever prompted to download something or click a link, verify the legitimacy of the download or link first. For instance, if you must download
a Flash update in order to view a video, visit the Adobe Flash website directly. The bottom line is, think before you click. If you receive something out of character from someone or offers that appear to be too good to be true, chances are it’s a social media scam.



Melrose Place

Making Melrose CU A Better Place

We invite all members to send us your service experiences at Melrose Credit Union.

Please note that letters may be edited or summarized.

My parents were members of Melrose Credit Union since the 70s, and since their deaths, I have continued to hold several accounts with Melrose, although I live in California. A number of my transactions have been handled by Mr. Anthony Arturo. I want to take this opportunity to express my appreciation for his skillful and effective handling of my questions and concerns. He handles himself in a most professional manner and has always been helpful and courteous. This matters a great deal to customers trying to do business from afar.

I wanted someone in administration to know from the customer’s side of things what a splendid job Mr. Arturo is doing.




summer funMake A Splash This Summer!

Discount Tickets To Great Adventure And Hurricane Harbor

Have you taken advantage of the various discounts your credit union provides? Melrose CU can help you save on more than our excellent services and loans. As a member, you can also save big on admission tickets to Great Adventure and Hurricane Harbor. Stop by or call us for more details or to make your purchase.




FREE Financial Planning Services

No matter where life takes you, Melrose Credit Union can help you plan for your future. Consult our financial expert for free, intelligent advice regarding the following important


  • Financial Security
  • College Financing
  • Life Insurance
  • Budget
  • Reverse Mortgages
  • Investments
  • Income Tax Review/ Planning
  • Long-Term Disability
  • Social Security Payments
  • Estate Planning
  • Long-Term Healthcare
  • Wills & Trusts
  • Retirement

Our expert, Mr. Ed Huttick, CFP, will be happy to help you evaluate your financial needs and craft a better financial plan for your future. Stop by or call (718) 523 1300 to learn more.


ATM/Shared Branch