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Melrose Credit Union

You Can Get There From Here

Connections - Summer 2012


It’s Summer House-Hunting Season

For SaleWarm summer days are here and the inventory of houses on the market has never been better. Thanks to motivated sellers and low mortgage interest rates, it’s the perfect time to buy if you’re in the market for a new home.

If you’re thinking of buying now, you’ll be moved in and settled before the kids start school in the fall. The timing couldn’t be better.

At Melrose Credit Union, you’ll love our competitive mortgage rates, low closing costs and flexible mortgage options. We offer both
fixed-rate and adjustable-rate mortgages with a variety of affordable terms.

It’s Easy To Apply!

Take advantage of today’s low mortgage rates. Apply for a Melrose Credit Union mortgage today. Call our Real Estate Department at (718) 658-9800, option 3 and ask for an application. Or, apply online at and click on the mortgage link.



Melrose Credit Union & ESPN Radio Hold Scholarship Luncheon

(Briarwood, NY) – Melrose Credit Union, together with its scholarship program partner, 1050 ESPN Radio NY, recently held a luncheon at Legends Restaurant in New York City to recognize their annual MVP Scholarship winner and runners-up.

Since 2007, Melrose and 1050 ESPN Radio NY have chosen five candidates from a list of nominees, submitted to by friends, family, teachers, mentors, coaches and athletic directors from across the New York metropolitan area, who exemplify MVP qualities on and off the field of play.

Melrose then determines the winner and presents a $5,000 scholarship to the honoree at a luncheon in mid-town Manhattan hosted by ESPN Radio NY on-air personality, Dave Rothenberg.

Scholarship Winner
Left to right: Alan Kaufman, Treasurer/CEO, Melrose CU; Sean McCann, 2012 Scholarship Winner; Dave Rothenberg, 1050 ESPN Radio NY; and Rob Nemeroff, Director of Marketing/Public Affairs, Melrose CU.


Runners Up
This year’s winner was Sean McCann of Park Ridge, N.J. The runners-up were: Kathleen Samuelson, Rye, N.Y.; Jeremy Klapper, New York, N.Y., Maggie Egellenner, Smithtown, N.Y. and Jacob Glickman, Livingston, N.J.


Surcharge-Free ATMs Co-Op Network CU Service Centers



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.

Dear Alan,
I am a new Melrose Credit Union member and wanted to let you know how much I appreciated all of the time, energy and effort that Steven Barba spent helping me get my mortgage. He went above and beyond to get my mortgage commitment and closing done quickly. Not only is he fast and efficient, but through all of the stress of buying a home, his good attitude and sense of humor kept me at ease. I could not recommend Steven more highly and indeed have recommended him and Melrose Credit Union to several of my friends who are looking to buy a house.

Thanks, Cynthia L.

The purpose of this letter is to extend a sincere thank you to the staff at Melrose Credit Union who assisted me in the opening of a ROTH IRA.

When I saw on the internet extremely good CD rates at Melrose, I decided to open a new account. This process could be time consuming and tricky at most institutions but at Melrose, I was guided through the process by dedicated and skilled staff.

My sincerest thanks to Mr. Nirmal Narine and his co-worker, Lolita, who walked me through the several steps necessary to complete this task and followed up with me to ensure the timely account opening.

Mr. Narine, in particular, was most helpful and made himself consistently available to answer the many questions I had on which forms to use, how to fill them out and how best to understand the process.

Many thanks to these two loyal and dedicated employees, and the other staff at Melrose I spoke to, including the after-hours off ice in Texas.

Michael J. L.



Holiday Closings & Important Dates

Independence Day
Wednesday, July 4, 2012

Labor Day
Saturday, September 1, 2012
Monday, September 3, 2012



Update Your ATM/Debit Cards For Summer Travel

Are there travel plans in the works for you this summer? Before you leave on your next trip, be sure to call us and let us know you’ll be traveling. That way, we can update the fraud protection coverage on your account so you can access your funds through ATMs or in retail stores in the areas you will be visiting.

Update Your Contact Information, Too

While you’re at it, make sure we have your current phone numbers on file, both landline and cell phone. That way, if a charge happens to be flagged by our fraud protection service, we can notify you immediately. To update your contact information, stop by the credit union or call us at (718) 658-9800 or (800) 235-0118.



Sizzling Summer Savings!

Melrose Credit Union offers big savings on theme park admission tickets for those lazy, hazy days of summer. As a member, you are entitled to purchase admission tickets at a substantial discount to Great Adventure and Hurricane Harbor. Call us for more details or stop by to make your purchase.



Capitalize On Melrose Credit Union’s Business Services

Business establishments are always looking to minimize their operating costs and at the same time maximize their capital and investment dollars. At Melrose Credit Union we created our Business Services Department to include an expanded variety of affordable business products and services.

Our full line of Business Services include:

  • EZBusiness Share And Share Certificate Accounts
  • SBA Loans, Term Loans, Business Line Of Credit
  • EZ Business Online
  • Remote Deposit Capture
  • Business Insurance
  • Employee Benefit Plans
  • FREE Certified Financial Planning

Contact the Melrose Business Services Team at (718) 658-9800 and learn how they can help you “Get There From Here” SM




Get The Savings Bug This Summer With A Melrose EZKidz Account

Now, more than ever, is the perfect time to encourage your children to open a Melrose EZKidz Account.* This program is free and open to members ages 6 to 12.

Sign up is easy and each child is provided with a Melrose Credit Union “Kiddy Piggy Bank”. Kids find it rewarding to deposit their coins in their Piggy Bank, then bring it to the credit union and use the EZCoin Counter to count their savings and make a deposit. The excitement of saving makes them feel like an adult and will instill good savings habits through 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 birth certificate or school ID.



Putting A Green Roof Over Our Heads!

Taking the rooftop tour are, from left to right: James Gennaro, NYC Councilmember; Alan Kaufman, Melrose CEO; Mickey Bennett, Solar One Engineer and Business Development Specialist; and Michael Simanowitz, NYS Assemblymember.

At Melrose, we’re going green from the roof on down! As part of our building remodeling project, we installed a “green roof.”

What is a green roof?
A green roof is essentially a garden planted on the roof of a building. Although rooftop gardens are not a new concept, today’s green roofs offer both ecological and economic benefits.

In high-density areas such as cities, buildings, streets and sidewalks absorb and trap heat, creating an effect known as the “urban heat island.” That’s why cities tend to be hotter than the suburbs and rural areas around them. By acting as a buffer to absorb excess heat, the plants in a green roof system lower air temperatures and slow the runoff of rainwater. They also serve as a habitat for city-dwelling birds and other wildlife.

Essentially, we have established a micro-ecosystem on the roof of our building. Using trays of specially-grown plants, our green roof adds a layer of natural insulation, not only protecting the roof itself, but also helping us maintain the internal temperature of the building. This helps us control our utility costs in both summer and winter.

In addition to the green roof, we have also installed a bank of solar panels to convert the sun’s rays into efficient energy. The converted solar energy helps to support the power requirements for the building and any surplus power is returned to the power grid.

By taking an ecologically-proactive approach to our building remodeling, we have made decisions that offer benefits to both the environment and our yearly operating costs.



Put The Equity In Your Home To Work For You

Summer is a perfect time to make your dreams come true…renovate your home, add a new deck, consolidate bills or even plan a dream getaway. And there’s no better way to finance your dreams than to tap the equity in your home.

A Home Equity Line of Credit from Melrose Credit Union gives you the flexibility to borrow the money you need – when you need it. You can borrow up to your available credit limit at any time, with no annual fees.

This versatile loan offers advantages such as:

  • A Low “No Tease” Rate
  • No Application Fee
  • No closing Costs On Loans From $25,000 – $100,000

For more information about a Melrose Credit Union Home Equity Line of Credit, call (718) 658-9800, option 2.



Insurance Services For All Your Needs

At Melrose Credit Union, we have a complete line of insurance services through Member Brokerage Service, LLC. Their expert staff will navigate you through the process and save you money. There are NO broker fees, free claims handling and flexible payment terms.

MBS is always looking for more ways for members to save money on their insurance policies, like discounts on auto and homeowners insurance through Travelers and discounted commercial auto insurance through GMAC. Now, MBS is an approved broker for Hartford/AARP, with plans to add additional carriers into our mix later this year. So, now eligible members have access to even more insurance savings.

In addition, Member Brokerage now offers a New York State defensive driving online course at a discounted price of $38.95. This online course is designed for you to take entirely at your own pace. Successful completion of this course provides a 10% reduction, for 3 years, in the base rate of the motorist’s current automobile liability, no-fault and collision premiums and a 4-point reduction on a New York motor vehicle record. Once you’ve completed your Defensive Driving course your completion certificate is available the very next day.

Our protection services include:

  • Automobile Insurance
  • Homeowners & Renters Insurance
  • Disability Insurance
  • Accidental Death & Dismemberment
  • Long Term Care Insurance
  • Life & Health Insurance
  • Business Insurance
  • Workers Compensation Insurance

For more information, stop by and see us; we are on the 3rd floor of the credit union, or visit our website.



90th Annual Shareholders Meeting

On Sunday, March 25, 2012, members of Melrose Credit Union met for the 90th Annual Shareholders Meeting. The meeting was attended by almost 1,000 members.

New this year was the use of audio-visual support for the presentations. Screens were set up around the meeting room so that everyone in attendance could see and follow the agenda, the presentation and the guest speaker’s comments.

Notable attendees at this year’s meeting included, from left to right, Alan Kaufman, Melrose CEO; Bill DeBlasio, NYC Public Advocate; and Lee Komitor, Melrose President.


ATM/Shared Branch