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Member Exchange Winter 2017

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equity1

home equity

Get Ready For New Adventures

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What’s your resolution for 2017? Does your list include travel, catching up on debt or upgrading your home? Melrose Credit Union can help you fulfill your resolutions, with affordable Home Equity Lines of Credit by securing the funds you need for whatever life brings your way. Our hassle-free loan application and quick approval process starts you on your way to borrow wisely, reach your goals or help you over any bumps in the road you might encounter.

BENEFITS OF A MELROSE HOME EQUITY LINE OF CREDIT

  • Low-cost financing
  • Up to 70% combined loan to value
  • Consolidate high-rate debt

LEARN MORE AND APPLY TODAY!

Visit here, stop by the credit union or call (718) 658-9800.

 

 

 

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financial planning

Is It Time For Your Annual Check-Up?

CHECK YOUR FINANCIAL WELLNESS WITH OUR ONSITE CERTIFIED FINANCIAL PLANNERS

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Melrose Credit Union is staffed with experts in long-term asset planning. Whatever life stage you’re at, get peace of mind and free expert advice that solidifies your financial freedom down the road. We encourage members to take the time every year and get a
financial wellness check-up.

A sound financial plan is critical for everyone. During your initial in-person meeting with a Melrose Certified Financial Planner, you will be guided to identify your financial goals, dreams and challenges by focusing on these four key areas:

  1. Wealth accumulation during your working years
  2. Managing your investments
  3. Confidence and independence in your retirement years
  4. Estate and inheritance planning

Free Expert Advice!

Let Melrose help you address what areas may need adjustments to keep you on track.
Call us at (718) 658-9800 or stop in the branch and get your check-up scheduled today!

†Products and services offered through the Certified Financial Advisor are not products of Melrose Credit Union. Investments involve risk and are not federally insured. They are not obligations of nor guaranteed by the credit union.

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ira

We Want YOU To Get Tax Advantages!

tax_advantageIT’S THAT TIME OF YEAR TO THINK ABOUT IRA CONTRIBUTIONS

You need to make or schedule your 2016 contributions by April 17, 2017 to reap the tax advantages in this tax year.

Melrose CU offers a full range of IRA** options, allowing you to save for the future and supplement your pension, employersponsored 401(k) plan or Social Security benefits – with tax advantages! We offer Traditional IRAs, Roth IRAs and Share
Certificate IRAs, as well as Share Certificates with competitive rates. Ask us about the option that’s best for your life story.

Contribute By April 17, 2017, For 2016 Tax Benefits

**Consult your tax professional about tax advantages for IRAs.

 

 

scholarship

scholarship

Good Luck To Our 2017 Scholarship Applicants

scholarshipCredit unions are rooted in people helping people, and that includes helping Melrose’s high school student members realize their dream of higher education. For all those college-bound high school seniors who submitted a scholarship application, Melrose wishes you good luck! Applications will be reviewed in early spring and judged against other statewide submissions.

Multiple Winners Will Be Announced In May 2017

 

 

 

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winter fun

How To Spend The Winter In NYC

skylineThe weather may be colder, but there is never a shortage of things to do in the city during the winter months. Here are a few fun and interesting events and happenings over the next few months.

WINTER JAZZFEST 2017

Grab a wristband and hit up Greenwich Village’s clubs to hear some of the best jazz in intimate settings. January 5-10, 2017 at various locations.

NEW YORK BOAT SHOW

The breezes may be brisk this time of year, but the boats are spectacular at this nautical convention. January 25-29, 2017, Javits Center.

CHINATOWN LUNAR NEW YEAR

Chinese New Year starts with a bang of firecrackers and dancing dragons. Chinatown comes alive during the New Year’s Day Firecracker Ceremony on January 28, 2017 and the Lunar New Year Parade on February 5, 2017.

NEW YORK FASHION WEEK

You don’t have to attend a runway show to see some of the best fashions in the world. Just hang out near the venues, and find

some of the non-ticketed events. February 9-17, various locations.

WESTMINSTER KENNEL CLUB DOG SHOW

If you love dogs, spend Valentine’s Day at the biggest dog show in the U.S. It’s a great place to watch both dogs and people. February 11-14, Madison Square Garden and The Piers 92/94.

compliance

compliance

We’re Here To Help With Regulation D Compliance

As your financial partner, we have an obligation to help members stay in compliance with Regulation D – a law created by the Federal Reserve Board that prevents consumers from using dividend-bearing accounts as transactional accounts. What this means to you is that you have limitations in the way you make withdrawals and transfers from your savings account.

TRANSACTIONS INCLUDED IN THE 6 PER CALENDAR MONTH LIMITATION (WITHDRAWALS OR TRANSFERS TO OTHER MELROSE ACCOUNTS OR TO A THIRD PARTY):

  • Electronic payments
  • Point-of-sale transactions
  • Automatic payments n Fax requests
  • Online transfers
  • Phone requests
  • Fax requests

TRANSACTIONS NOT INCLUDED AS PART OF THE SIX PER MONTH:

  • In-Person at a branch
  • ATM withdrawals
  • Mail and written requests

To help you better understand the requirements of Regulation D, we included a letter with Frequently Asked Questions in your December statement. Please visit here to read these FAQs now and for future reference. If you have any additional questions, please feel free to visit the branch or call us at (718) 658-9800.

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taxi stand

By Dave Pollack, aka Taxi Dave

Director MTAC | DavidP@MelroseCU.org

Cover Your Lease Expense With Accessible Fare Incentives

Did you know that drivers of wheelchair-accessible yellow cabs in Manhattan get incentives starting with an additional fifty cents on every fare? Drivers are averaging an extra $100 a week and some are only taking accessible fares. There are even more incentives above the metered fare the further you travel – from $10 for up to half a mile to $30 for traveling more than two miles. The potential is there for accessible fares to cover your lease expense! The Taxi & Limousine Commission announced at November’s meeting that accessible calls will soon expand to all five boroughs.

Melrose CU Keeps Medallions Strong

Melrose continues to support the taxi industry by keeping people in business and servicing you and your loans. So whether you’re thinking about a medallion purchase, or you’re a medallion owner in need of money, or your balloon loan soon matures – come to Melrose. We are “people helping people.” Whatever your needs, call John Romero for a personal appointment at (718) 658-9800 Ext. 1029. NYC is still a hailing town and medallions are here to stay!

Tune In For Industry Info

Enjoy some lively listening on WOR-710 AM with our one and only Dave Pollack on the Taxi Dave Show every Sunday evening between 8:00 - 9:00 p.m. The entertaining live call-in talk show features a variety of guests, most recently the Chairwoman of the NYC Taxi & Limousine Commission. Various politicians and other guests offer interesting perspectives not heard elsewhere and of course, it’s the best place to tune in for the latest industry hot topics.

MTAC: Melrose Taxi Action Center

If you have questions about taxi-related issues or the industry, call Taxi Dave at (718) 523-1300 Ext. 1080 or reach out to Madeline at (718) 523-1300 to set up an appointment. Dave serves all Melrose members.

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testimonials

As current customers of Melrose Credit Union, we have each been dealing quite frequently in recent weeks with Lucia Otero, Member Service Representative. We just wanted you to know that Lucia has handled our needs in a ver y competent, efficient and professional manner. She is a fine representative of Melrose Credit Union.

~ Michael S. and Mary S.

I wanted to give Kimberly a great thank you for helping me set up a CD very quickly. She was so helpful.

~ Joan K.

I had the opportunity to call regarding my share certificate maturity notice. I had a few questions regarding the completion of the options. Niles was very knowledgeable, pleasant, most courteous and willing to go the extra step to clear any of my concerns. It was refreshing to speak with Niles who at the same time did a professional job in helping me with the options. I was a happy customer, but more important it should be noted that Niles is an employee in whom you can be proud.

~ Florence W.

My husband and I visited with Mr. Pollack on September 27, 2016. We were concerned about the problems affecting the taxi industry. His advice and knowledge on the industry alleviated and instructed us about all that is affecting us as Taxi Medallion owners. He was very helpful, informative and polite. We thank him for his work and information. Hoping that he continues this important work for the industry.

Thank you very much!!

~ Miriam and Aurelio

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news & notes

Holiday Closings & Important Dates

Martin Luther King, Jr. Day – Monday, January 16, 2017

Presidents’ Day – Monday, February 20, 2017

Annual Meeting – Date and Location to be announced

Disclosure And Fee Schedule Updates

Melrose Credit Union made changes to its Member Account Disclosure and Fee Schedule, now in effect. Melrose recently mailed these documents to every member. If you need another copy, please contact the credit union.

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exchanges

Stay Informed

tabletJoin our eMail list to get important news and promotions. Our policy is to send emails that only pertain to things you need to know about your account or offers that will save you money! Sign up on our home page button link at melrosecu.org and stay informed.

 

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