Go Green With Help
from Your Credit Union

Your Credit Union has always supported ethical banking practices. Whether it’s responsible lending or offering BillPayer and Home Banking, here are five tips from the Credit Union that will put you on the “green” path.

Use Online Banking
Access any of your accounts online to transfer money or just check on your account. With ATM access and 24/7 Home banking, you’ll always have access to your funds.

Pay Bills Online
Almost every company that sends you a paper bill will gladly stop sending you a paper bill and accept an online bill payment through their website or North Penn FCU. Our BillPayer allows you to pay up to ten bills per month, FREE!

Stop with the Blank Checks!
You CAN get those blank cash advance checks from your credit card company to stop showing up. Call the number listed in the letter and tell them you no longer want to receive the checks. If you are receiving unsolicited credit card offers, have your name removed from credit bureau marketing lists. Call 888-5OPTOUT (888-567-8688).

Get Your Paycheck Directly Deposited
Most employers offer direct deposit of your paycheck. Your money gets here faster, too. You can use Direct Deposit for social security checks, tax refunds, and pension deposits as well.

Tired of Shredding Your Statement?
The Credit Union can stop it from being printed! All we need from you to stop your statement from being printed is for you to fi ll out a form. Contact the Credit Union to make it happen!

Hot, Hot, Hot
Auto Loan Special

This summer, drive off in the car of your dreams! North Penn Federal Credit Union offers up to 100% fi nancing on New and Used Autos, and our HOT rates leave the competition out in the cold. Plus, we offer a variety of terms and payment options, so before you take that dealer fi nancing, stop in to the Credit Union and apply. We’ll have an answer for you in no time, so you’ll be spending the hot summer in your cool car.

*APR = Annual Percentage Rate. Rate current as of date of publication and is subject to change. Rates are based on applicant’s creditworthiness. Other rates and terms available. Contact the Credit Union for details.

What’s the Difference Between a Traditional and Roth IRA?

Eligibility:

• Traditional: All workers under age 70 1/2 at the end of the calendar year.
• Roth: No age restrictions to open. Fully eligible if income is below $95,000 (single) or $150,000 (joint). Increasing limits apply if income is higher; not eligible if income is above $110,000 (single) or $160,000 (joint).

Contributions:

• Traditional: Made with pre-tax income. Reduces gross taxable income for that year by the amount contributed.
• Roth: Made with after-tax income.

Tax Benefits of Contributions:

• Traditional: Fully deductible if you don’t have an employer retirement plan. Nondeductible if you’re covered by an employer retirement plan and have a modified adjusted gross income above $65,000 (single) or $89,000 (married filing joint, and depending on who has a retirement plan at work). Partially deductible if you have a modified adjusted gross income in 2009 between $55,000-$65,000 (single) or between $89,000-$109,000 (married filing joint).
• Roth: Not deductible. If converting from IRA to Roth IRA, the taxable portion of the IRA is taxed in year of conversion.

Maximum Contribution (per individual):

• Both Traditional and Roth:
  

  Under age 50:	Over age 50:
  2008 $5,000	2008 $6,000
  2009 $5,000	2009 $6,000
  2010 Indexed to Inflation	2010 Indexed to Inflation

Rollovers:

• Both: No annual limit on amount rolled over from another qualified plan

Conversion:

• Roth: May convert from IRA to Roth IRA if income is $100,000 or less.

Contact the Credit Union for more information regarding distributions and withdrawals.

’Tis the Season For Holiday Club Accounts

It’s never too early to start saving for the holidays! If the thought of high credit card bills after the holidays has you feeling cold this summer, stop in to the Credit Union and open up a Holiday Club Account.

Save as much or as little as you want, as often as you’d like. We’ll transfer the funds into your Checking Account right before the shopping season begins, so you can pay for those presents – in cash!

Tell your high interest credit cards to take a vacation this winter and open a Holiday Club Account today.

Holiday Closings

Friday, July 3 • Independence Day (observed)
Monday, September 7 • Labor Day

Past Newsletters

Summer 2000
Fall 2000
Winter 2000/2001

Spring 2001
Summer 2001
Fall 2001
Winter 2001-2

Spring 2002
Summer 2002
Fall 2002
Winter 2002-03

Spring 2003
Fall 2003
Winter 2003-04

Spring 2004
Summer 2004
Fall 2004
Winter 2004-05

Spring 2005
Summer 2005
Fall 2005
Winter 2005-06

Spring 2006
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Winter 2006-07

Spring 2007
Summer 2007
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Winter 2007-08

Spring 2008
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Winter 2008-09
Spring 2009

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