In this Issue
Credit Union Info
Board of Directors
Fred L. Barrett, President
Randy Sheaffer, Vice-President
Donna L. Brown, Secretary
Betty L. Gray, Treasurer / Manager
Josephine L. Cassidy
R. Eugene Clay, Chairman
Tom Shaffner, Chairman
Hours and Location
203 Booth Street
Elkton, MD 21921
Our representatives are available Monday through Friday during the
School Year Hours:
8:00 a.m. to 4:30 p.m.
June 22 through August 21
9:00 a.m. - 4:00 p.m.
Monday - Friday
3135 Biggs Highway,
North East, MD 21901
Our representatives are available Monday through Friday during the
School Year Hours:
12:00 p.m. to 4:30 p.m.
NEW: ATM Now Available!
Win an iPad!
Now until May 31st, 2011, every new loan over $3,000 will be
automatically entered into a drawing to win an Apple iPad*!
Rates as low as 2.50%APR* for up to 36 months! Looking for a low payment? We
have terms up to 72 months with
rates as low as 4.50% APR**.
Already have an auto loan with
another financial institution? Refinance it with us and save
money. Refinance rates are as low as 5.49%APR**.
Home Equity Loan
Rates as low as 4.00% APR*! Are you looking to put an addition
on your home, remodel a room, or
just want to consolidate some debt?
Then a Home Equity Loan is perfect for you
and the interest might even be tax deductible!
Rates as low as 10.99% APR*! This is the perfect loan for vacation
expenses, consolidating credit card
debt, or even a tax loan. In addition,
we have extended terms for up to 60 months.
Contact the Credit Union today by calling 410-398-6921 or
visiting one of our now TWO branches at:
• 203 Booth Street in Elkton
• 3135 Biggs Hwy. at College Crossing in North East
*No purchase necessary. Approved new loans over $3,000 will be automatically entered.
Chances of winning depend on number of entrants. Apple Inc. is not a participant or sponsor
of this program.
**Rates quoted above are for qualified borrowers. Your rate may vary based upon your
individual credit profile.
***Home Equity rate is tied to prime rate and could change at any time.
The Kelly Group (back to top)
THE KELLY GROUP
Provided by Bryan E. Kelly, CFP® and William S. Kelly, CPA, CFP®
Leaving a Legacy
You've worked hard over the years to accumulate wealth, and you
probably find it comforting to know that after your death the assets
you leave behind will continue to be a source of support for your
family, friends, and the causes that are important to you. But to
ensure that your legacy reaches your heirs as you intend, you must
make the proper arrangements now. There are four basic ways to
leave a legacy: (1) by will, (2) by trust, (3) by beneficiary designation,
and (4) by joint ownership arrangements.
A will is the cornerstone of any estate plan. You should have a
will no matter how much your estate is worth, and even if you've
implemented other estate planning strategies. You can leave property
by will in two ways: making specific bequests and making general
bequests. A specific bequest directs a particular piece of property to
a particular person ("I leave Aunt Martha's diamond broach to my
niece, Jen"). A general bequest is typically a percentage of property or
property that is left over after all specific bequests have been made.
Typically, principal heirs receive general bequests ("I leave all the rest
of my property to my wife, Jane"). With a will, you can generally leave
any type of property to whomever you wish, with some exceptions.
You can also leave property to your heirs using a trust. Trust property
passes directly to the trust beneficiaries according to the trust terms. There
are two basic types of trusts: (1) living or revocable, and (2) irrevocable.
Living trusts are very flexible because you can change the terms of the
trust (e.g., rename beneficiaries) and the property in the trust at any time.
You can even change your mind by taking your property back and ending
the trust. An irrevocable trust, on the other hand, can't be changed or
ended except by its terms, but can be useful if you want to minimize estate
taxes or protect your property from potential creditors. You create a trust
by executing a document called a trust agreement (you should have an
attorney draft any type of trust to be sure it accomplishes what you want).
Property that is contractual in nature, such as life insurance, annuities,
and retirement accounts, passes to heirs by beneficiary designation.
Typically, all you have to do is fill out a form and sign it. Beneficiaries
can be persons or entities, such as a charity or a trust, and you can
name multiple beneficiaries to share the proceeds. You should name
primary and contingent beneficiaries.
Joint Ownership Arrangements
Two (or more) persons can own property equally, and at the death
of one, the other becomes the sole owner. This type of ownership is
called joint tenancy with rights of survivorship (JTWRS). A JTWRS
arrangement between spouses is generally known as tenancy by
the entirety, and a handful of states have a form of joint ownership
known as community property.
It is important that you consult with your Financial Advisor to
discuss which strategy would be best for you and your family.
They can assist you in clearly expressing your wishes to an
attorney who will draft your estate documents.
Securities offered through Cambridge Investment Research, Inc., A Broker/Dealer, Member
FINRA/SIPC and Investment Advisor
Representative. Cambridge Investment Research Advisor, Inc. a Registered
Investment Advisor. The Kelly Group and Cambridge are not affiliated.
Make Summer a Breeze with
Our Skip-A-Loan Payment! (back to top)
The spring winds are blowing and the warm days of summer are just around the
corner. Thoughts turn to road trips, the beach, summer shopping, and getting our
homes ready for summertime cookouts. CCSEFCU wants to help you get ready for all
of these great activities and make summer a breeze with our Skip-A-Loan Payment
Program where you can choose either July or August 2011 to skip your loan(s) payment
with us! In fact, you can skip one month's payment for each of your CCSEFCU loans.
All you have to do is: 1) Make sure your loans are current; and 2) Make sure
your savings and/or checking accounts are not overdrawn. A $25 processing fee
(e.g., from your share savings account) handles the rest. There are no penalties for
skipping – only a well-deserved break for you and your money. Just complete the
form on the back of the newsletter, drop it by our office, or fax to: 410-398-0032.
Money Rocks at CCSEFCU! (back to top)
Who doesn't love to look cool and rock out? Music
transports us to a world where anything is possible.
Show the youth in your life how their credit union
can help make those rock-star dreams a reality.
Visit CCSEFCU the week of April 17-23 and
help us celebrate National Credit Union Youth
Week. This year's theme, "Money Rock$ At
My Credit Union," shows youth and teens
how Cecil County School Employees' FCU can
help them meet financial goals.
Whether young members are saving up for a
vintage guitar, a new iPod, or even a college
degree in music, we're ready to lend a hand.
That's because CCSEFCU is for members, by
members, and we care about youth...and
So stop by and rock out with us during Youth
Week! We can show young members how money
rocks at the credit union. So keep on rockin', keep
on dreamin', and keep on comin' to CCSEFCU!
Annual Scholarship Program (back to top)
$1000 to be used at any accredited
college or university.
This scholarship is for CCSEFCU members
only. Students may join the credit union and
then apply. All Cecil County School students
are eligible for membership.
Guidelines: for upcoming college students.
To enter, the student must:
- Be and/or become a member of CCSEFCU
- Be a Cecil County high school senior
- Have a GPA of 2.5 or above
- Submit a two page double-spaced essay on
the topic: "How Are Credit Unions
Different from Banks?" For example: How
are credit unions able to offer the same
products and services as banks at better rates
with lower fees?
All essays must be forwarded to the credit
union at 203 Booth Street, Elkton, MD by April
22, 2011 for a decision to be made by May 6,
2011. For more information, contact the credit
union office at 410-398-6921 or e-mail
All qualified students are encouraged to apply for this scholarship.
Classified Ads (back to top)
Reminders: (back to top)
Holiday Schedule (back to top)
Please note that your Credit Union will be closed in observance of the following holidays:
April 22, 2011
April 25, 2011
In-service Training Day
May 3, 2011 –
Opening at 1:00 p.m.
May 30, 2011
MDDCCUA Annual Meeting
June 10, 2011 –
Closing at noon
July 4, 2011