VIP Program Pays Dividends to PCU Members

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1 Winter VIP Program Pays Dividends to PCU Members In 2012, PCU returned 20% of its earnings to our members. Last year that amounted to over $535,000. We re the only credit union in Minnesota with this type of annual bonus program, and we are excited to announce its return for this year. PCU s VIP Program is one of the most significant initiatives in our 87-year history. The VIP Program is designed to reward members who have their primary checking account at PCU, by providing special benefits and exclusive offers throughout the year. Additionally, VIP members who also have two or more core loan types and/or two or more core deposit types are eligible to receive a special patronage dividend. Take for example Whit and Carolyn Carnes. The Carnes received $650 for having their Checking, Mortgage and Credit Card with PCU. The Butler family received $255 for using PCU as their primary financial institution. You could be next. Participation in the VIP Program The VIP Program is automatic for members who qualify. Members participate in the VIP Program simply by doing 144 withdrawals from your PCU checking account In This Issue Giving Back...2 Breakaway Mortgage Loan...3 Move your Retirement Plan...4 Call for Board Nominations Homebuyer Seminars...6 I became a P CU member way back in 1982, and now my entire family are members. I wouldn t do my banking anywhere else. We Love P CU and the V IP payback! - The Butler s, PCU Family Members We members sincerely appreciate P CU! Services from a friend ly telephone voice to people empowered to provide prompt answers Thank you, P CU. Whit and Carolyn Carnes within the calendar year. You can also qualify for the Loan Rebate and VIP Dividend by bringing your core financial relationships to PCU. If you have more than one membership account, it is possible to be a VIP for both by performing 144 annual checking withdrawals per account. However, it might be time to consolidate your various accounts and maximize your relationship. There s more! As we begin a new year, we are excited about the opportunity to provide even greater rewards to our loyal PCU members. Watch for more details on our new VIP+ program on our website at

2 Brian Sherrick President President s Corner Doing Good in our Communities When it comes to helping out in the community, PCU employees, members and volunteers are always willing to lend a hand. Whether it is delivering meals to local seniors, collecting coats for kids, working the registration table at fundraising events, or putting together a team for Relay for Life, volunteers put the credit union philosophy in action throughout the year. One of my favorite examples happened recently at Second Harvest Heartland regional food bank. While most people like to relax after a busy day at work, a group of ambitious and dedicated PCU employees and family members headed to Second Harvest Heartland to help pack food. The group surpassed previous records set by PCU volunteers, fi lling 700 boxes, over 12 tons of food, that will provide 20,417 meals to those in need. Twice each year, PCU sends volunteers to Second Harvest Heartland to pack boxes for our hungry neighbors. These volunteer nights are popular with employees as it provides an opportunity to spend time with coworkers from other branch offi ces, and give back to our communities in a very meaningful way. For the past four years, PCU and the PCU Community Foundation have partnered with the Salvation Army to serve as a drop-off site for the local community and provide monetary support for the Coats for Kids program. To increase donations, staff-decorated collection barrels were placed in PCU branch locations in early January and participation in the drive was promoted regularly in member communications, and at community and branch events. PCU staff, members and local residents brought in coats to help fi ll the barrels, or donated money so that additional coats could be purchased. To date more than 700 coats have been provided to those in need. We are proud to work with the Salvation Army Coats for Kids drive to ensure no child goes without proper winter attire. Again, these are just two examples of how our employees, members and volunteers live the credit union philosophy of people helping people. Through the PCU Community Foundation, we give thousands of dollars back to a wide variety of worthy causes, all in the effort to help strengthen the quality of life in the communities we serve. Thanks to your generous donations to the foundation or through Casual for a Cause, we look forward to doing more good in the year to come. Welcome New Supervisory Committee Members I d like to welcome Craig Spreiter and Mary Westberg to our Supervisory Committee. They join Chairperson Jim Carrier and Lisa Liddell in helping this committee ensure the integrity, accuracy and effi ciency of your credit union. Founded in 1926 as St. Paul Postal Employees Credit Union Dollars & Sense is published quarterly for members of Postal Credit Union. Editor: Cindy Kurtz Operating under supervision of the Minnesota Department of Commerce Member of Archer-Doig Chapter Minnesota Credit Union Network and CUNA, Inc. An Equal Opportunity Employer BOARD OF DIRECTORS James C. Bryan, Chairman Keith E. Hauge, Vice Chairman Daniel L. Blees, Secretary Lisa M. Liddell Laurie M. Ludwig Peter S. Olsen Judy A. Schadewald Robert E. Vance Jr. Mary A. White SUPERVISORY COMMITTEE Jim Carrier, Chairperson Lisa Liddell Craig Spreiter Mary Westberg STAFF Brian G. Sherrick, President Dennis R. Bauer, Executive Vice President Jeanine S. Swanson, Senior Vice President Lawrence J. Miggler, Senior Vice President Alisha J.R. Johnson, Senior Vice President Kelly R. Johnson, Senior Vice President Robin L. Grimes, Vice President Michael C. Rush, Vice President Roxanne Z. Sonnek, Vice President ALL OFFICES 8 am-5 pm Toll Free: 8 am-5 pm TTY Deaf or Hard of Hearing: 8 am-5 pm PAL Local PAL (2725) PAL Toll Free Fax Fax, Toll Free VISA TTY Deaf or Hard of Hearing Investment Center Mortgage Center Business Services

3 Breakaway from your Long Term Mortgage! Enjoy 2.99% Fixed Rate on 10-year term If you have equity in your home, a Breakaway Mortgage loan from Postal Credit Union can save you money! As a fi rst mortgage loan, it s the perfect option if you want to: Reduce your interest rate Replace a variable rate loan with a fi xed rate loan Combine your fi rst and second mortgage into one loan with one easy payment Payoff your home in 10 years or less Enjoy a 2.99%* fi xed rate for 10-years and closing costs up to $995^ ($595 without an appraisal). Maximum loan amount $417,000. This is a limited time offer so act now! Apply online 24/7 at Equal Housing Lender. *2.99% fi xed rate, 3.044% Annual Percentage Rate (APR) is available for terms up to 10-years with loan-to-value of 80% or less. Maximum loan amount $417,000. A minimum credit score of 700 is required to obtain this rate. Loan payment example: on a $50,000 loan for 120-months at 2.99% fi xed rate, monthly payments would equal $ Closing costs vary by state. The average cost is $500 but will not exceed $995 if appraisal is requested^. Payments do not include amounts for taxes and insurance premiums. Offer is subject to normal credit qualifi cations. Rate is subject to change. Property insurance is required. Consult your tax advisor regarding deductibility of interest. PCU Student Credit Union Hosts Financial Literacy Series all stages of life from youth through retirement, stated PCU President/CEO Brian Sherrick. The seminar series will also increase awareness of the student-credit union and credit unions in general, and continue to provide the tools, assistance and education to help students build a strong fi nancial future. PCU s Student Credit Union at Tartan High School in Oakdale hosted its fi rst Money Talks educational series in November. The peer-to-peer program, led by PCU Student Credit Union employees, is designed to teach students the building blocks of personal fi nance. The sessions focused on the key pillars of fi nancial education: budgeting, savings and investments, credit, and money management tools. Ten students completed the series and passed a fi nal exam receiving a $100 stipend for their participation. The overall objective is to provide valuable fi nancial education to students via their peers so they have the knowledge to make informed and conscious money decisions through The Money Talks program was funded by a grant awarded from the MN Credit Union Foundation. Additional sessions are scheduled for February and April at Tartan. PCU opened the Student Credit Union in January The student branch is operated by students, serving students, with a goal of teaching youth the basic principles and practices of the fi nancial services industry. PCU also offers a suite of student fi nancial products to help youth build their fi nancial future, including Free Student Checking, a Student Savers CD and a unique Credit Builder loan to help establish that all-important credit rating. For more information visit our website at

4 When You Change Jobs, Should You Change Your Employer Sponsored Plan? Content developed by CUNA Brokerage Services, provided by Lisa Blevens If you fi nd yourself without, or in between, jobs many questions can arise. With all of the life changes during this stressful time, it is easy to forget one of the most important decisions you have to make: What should you do with your qualifi ed retirement savings, such as your 401(k) or TSP. When reviewing your last retirement plan statement it s tempting to ask for the balance in one big check and think about the consequences later. In situations like this, patience and planning may be where the reward truly lay. Take a moment to consider your options; your decision can have both a short-term impact on your tax situation and a longterm impact on your retirement lifestyle. The consequences of taking your money out rashly may include (but are not limited to) the following: 20% Withholding: Your employer is required to withhold 20% of the total amount to cover any potential federal taxes that you might owe. Keep in mind that you may owe more than the 20% that is withheld. The Tax Man Cometh: You are subject to federal and state income taxes on both tax-deductible contributions and tax-deferred growth. 10% Penalty: Early withdrawal penalties of 10% may apply if you are age 59½ or younger. In the end, taxes and penalties may dramatically reduce the fi nal amount of your distribution far more than you expected. And far more than you can afford. Keep Your Retirement Money Working If you would like to keep more of your retirement savings growing tax deferred and minimize your current tax bill, there are options to consider. From a tax perspective, the following options may help you avoid paying current income taxes and early withdrawal penalties while maintaining the tax-advantaged status of your retirement savings: Consolidate Your Retirement Savings into One IRA By transferring your retirement plan to an IRA, you have the ability to consolidate several different IRAs into a single account. Additionally, you are not limited to the investment choices and other restrictions that apply to many employer sponsored plans. Move Your Retirement Savings to Your New Employer s Plan If your new employer allows you to rollover your assets from your previous employer s plan, this may be an attractive option for you. Rolling your existing retirement plan assets into your new employer s plan may allow you to take loans from your account. And, depending on the plan, your new plan might have different or better investment choices and pricing than your last plan or a new IRA. Keep Your Retirement Savings in Your Current Employer s Plan Some employers will allow plan participants to leave their retirement savings in the existing plan even after they have left the company. Depending on your existing plan s features, such as loan privileges, investment choices and plan expenses, you might fi nd it makes more sense to keep your money right where it is. Understanding Your Options Understanding the options you have available to you will only help you make better decisions about your money and your retirement. Review and discuss your options with an experienced Financial Advisor. Together you can identify a solution that will work for your needs today and throughout your retirement. FR D1AA Lisa Blevens is a Financial Advisor with MEMBERS Financial Services located at PCU. If you have any questions, or would like to provide feedback regarding the information presented in this article, you may contact Lisa Blevens at Representative is not a tax advisor or legal expert. For information regarding specifi c tax situations, please contact a tax professional. For legal advice, consult an attorney. Lisa Blevens Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the fi nancial institution, through the fi nancial services program, to make securities available to members

5 Just in time for the holidays! Open a new PCU Blue Rewards Visa Credit Card and earn 1,500 BONUS Rewards points when you spend over $1,000 within the fi rst 60 days of opening. Earn one point for every dollar charged in new net purchases. Points can be redeemed for exotic travel adventures and high-end merchandise. Through you can track your points, create a wish list and browse more than 500 merchandise options and travel packages. Apply online at Important Fee Information Effective January 1, 2014 for PCU Personal & Business Checking Assisted Transfer Fee Funds transferred within the same member number into your Checking by a PCU Representative on your behalf - $5 (Relationship Checking combined balances under $10k, Free & Cashback Checking) Overdraft Transfer Fee Automatic transfer from Share Savings into Checking when there are non-suffi cient funds - $5 Foreign ATM Fees Withdrawal & balance inquiry transactions at Foreign ATMs that exceed free monthly allotted per account type - $3 For tips to avoid fees or more information visit Tax filing season is right around the corner. Your credit union has once again partnered with Invest In America to offer discounts on the popular TurboTax Online fi ling options. Complete information can be found under Member Only Benefi ts on our website at Small Change PCU now offers Credit Union Auto Club, a roadside assistance program created exclusively for credit union members that provides unparalleled service and unprecedented value. CU Auto Club offers a wide range of roadside assistance services and other travel-related benefi ts to keep you on the road. Its professional customer service team is just a phone call away and ready to assist you 24/7. Visit the Member Only Benefi ts page at for details. The Minnesota Family Involvement Council is offering $10,000 in scholarships to credit union members who are continuing their education. Any individual attending a college or university, graduate or law school, 2- or 4-year program or community or technical college in the fall of 2014/spring 2015 is eligible. Those interested need to complete a one-page application and submit a typed essay. The scholarship deadline is February 1, To apply online visit Contributions to Casual for a Cause. Members are invited to contribute to your credit union s Casual for a Cause fundraiser for local charities. Upcoming causes in 2014 will be: January March: Local Area Schools Financial Literacy & Education April June: Meals on Wheels July September: Local Area Food Shelves October December: Salvation Army Coats for Kids Please reach into your hearts and pockets to help make a difference in our community. Call for Board Nominations Nominations for your credit union s Board of Directors are now being accepted. To be eligible you must meet the following criteria: a) Own at least one full paid share b) Be at least 18 years of age c) Have not caused a previous loss to the credit union d) Are bondable e) Do not have a past criminal history causing doubt as to the safety or security of the credit union, its employees or assets. A background check will be conducted. Members who meet these criteria and wish to run for election to the board must submit their name in writing received by February 1, Mail to Postal Credit Union, 8499 Tamarack Road, Woodbury MN 55125, attn: Brian Sherrick. Nominations are not allowed from the fl oor at the Annual Meeting. Please include a brief biography (150 words or less) and photo with your letter of nomination. Board of Directors expiring three year term: James C. Bryan Keith E. Hauge Lisa M. Liddell

6 Holidays & Office Hours Prsrt Std U.S. Postage PAID Twin Cities, MN Permit Drive-thru Service Only (9:00 a.m. 1:00 p.m.) Monday, January 20, 2014 Martin Luther King Day Monday, February 17, 2014 Presidents Day All Offices Closed at 1:00 p.m. Tuesday, December 24, 2013 Christmas Eve All Offices Closed Wednesday, December 25, 2013 Christmas Wednesday, January 1, 2014 New Year s Day Office Hours Lobby 9:00 a.m. 5:00 p.m. Mon, Tues, Thurs & Fri 10:00 a.m. 5:00 p.m. Wed 9:00 a.m. 1:00 p.m. Sat Drive-thru 8:00 a.m. 6:00 p.m. Mon Fri 9:00 a.m. 1:00 p.m. Sat Call Center 8:00 a.m. 5:00 p.m. Mon Fri Announcing our Free 2014 Homebuyer Seminar Series PCU s Homebuyer Education Seminar opens the door to homeownership for homebuyers. Whether moving up or purchasing your fi rst home, this seminar will provide you the information to confi dently take the next step. A PCU Mortgage Loan Advisor, along with a PCU preferred realtor partner will discuss the ins and outs to becoming pre-approved, how to evaluate your credit, selecting the right realtor, fi nding the right home and much more! At each session, all attendees will be entered into a random drawing for a $50.00 Home Depot gift card Seminar Dates and Locations: PCU Woodbury Office 8499 Tamarack Road, Woodbury, MN Thursday, February 13 6:00 pm to 8:00 pm Saturday, February 15 10:00 am to 12:00 pm PCU North St. Paul Office 2401 N. McKnight Road, North St. Paul, MN Thursday, March 20 6:00 pm to 8:00 pm PCU Hugo Office Victor Hugo Blvd. N, Hugo, MN Thursday, April 24 6:00 pm to 8:00 pm Saturday, April 26 10:00 am to 12:00 pm Refreshments will be served. Space is limited so reserve your seat today! Sign up at or call (651) 747-HOME (4663) Denmark Avenue Eagan, MN Postal Credit Union. All rights reserved. DS Victor Hugo Blvd N. Hugo, MN N. McKnight Road North St. Paul, MN S. Robert Street West St. Paul, MN Tamarack Road Woodbury, MN Insured by NCUA