LCFCU continues 2010 with pride in our accomplishments. Primary among them is 75 years of trusted service to a growing field of members, now numbering more than 11,500. In that spirit we are celebrating and giving back even more to members all year long.
 When it comes to credit cards, LCFCU sparkles. Rates and fees are always low and fair. And now through March you can pocket extra cash when you use your LCFCU Visa for balance transfers and cash advances.
Get .75% cash back paid directly to your savings account.
Consolidate holiday bills – and get cash back.
Pay off other higher rate cards – and get cash back. It’s brilliant!
- Low 8.75% APR** for cash advances and balance transfers
- Only 9.75% APR** for purchases
- Flexible credit limits
- No annual fee
- No prepayment penalty
- No cash advance fee
- 25-day interest-free grace period on purchases
*Cash back will be deposited to members’ share accounts by the 15th of the month following the transaction. Total amount of eligible advances is $20,000.
** Annual Percentage Rate
LCFCU members can get Blue Book value for trade-ins PLUS $500 with an Enterprise used card purchase from now through April 30. No trade-in? You’ll get one year of free oil changes with your used auto purchase from Enterprise. Every member will get low and reasonable rates on auto loans from LCFCU.
Preview a great selection of quality used cars from Enterprise.
Scholarship Funds
Are you or a family member headed off to college in 2010? Well LCFCUis pleased to announce a college scholarship opportunity that may make it easier for you to meet your tuition costs. The $11,000 Credit Union College Scholarship Program for 2010 is underway now! Our college-bound members are eligible to apply for one of ten $1,000 essay-based scholarships and one $1,000 video-based scholarship. The deadline for applications is March 31, 2010. Awards will be made in May 2010.
This year’s essay topic is:
How can your credit union membership help you avoid financial pitfalls?
The 2010 video challenge is:
Create a 60-second advertisement promoting credit union membership.
Any member of LCFCU who is entering their freshmen through senior year of college may apply. “We’re pleased to offer this opportunity for our young members,” noted Marsha King, CEO. “The awardees receive needed financial assistance to help them meet their tuition expenses and the essay and video topics provoke innovative and useful responses to help us better serve our college-aged members. And the applicants learn a little more about our credit union.”
Applications and complete details on the Credit Union College Scholarship Program can be found here. This scholarship is sponsored by the Credit Union Foundation of MD & DC.
This year another educational finance bonus is available to student members. A college grant program is available through LCFCU’s participation in the Accel/Exchange Network. In July a total of four $5,000 and 30 $1,000 grants will be awarded to academically qualified students. The grant program is open to all college-bound high school seniors who will graduate in 2010. The deadline to enter is March 15, 2010.
Request your application from us by phone or email, or pick one up at our Madison office.
Students simply mail their completed applications to the Accel/Exchange Network by the deadline. All grant money and advertising costs are paid for by the Accel/Exchange Network. Additional information is available from the ACCEL/Exchange Network at 973-682-5637.
 TurboTax® is now easier than ever – it’s right inside our DirectConnect home banking site. TurboTax guides you through your taxes step by step--like a GPS–and finds all the deductions and credits you deserve. TurboTax even has help designed specifically for first-time users.
- Provides answers to your commonly asked tax questions on every screen
- Saves you time by bringing in personal, tax and direct deposit info right from your LCFCU account
- Transmits your data quickly, accurately and securely with the latest encryption technology available
Preparation for all levels of tax returns are available—Free, Deluxe, Premier and Home & Business. Those editions with cost are provided at a 15% discount at LCFCU. Payment is not due until you file your return and several payment options are available.
Just log in to DirectConnect home banking and click on the “My TurboTax” tab to get started!
© 2009 Intuit Inc. Intuit and TurboTax are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks or service marks are the property of their respective owners.
If you’ve been thinking about buying a home, here’s some good news: you can still receive a tax credit from the federal government when you purchase a home. This special tax credit, originally provided only to first-time buyers, was set to expire on November 30th, but has been extended through April 30, 2010, and expanded to include existing homeowners and higher levels of income. Here are the basics:
- First time homebuyers can receive a tax credit of 10% of the purchase price of the home, up to a maximum of $8,000.
- Repeat home buyers can receive a tax credit of 10% of the purchase price of their new home, up to a maximum of $6,500, provided they have owned and used their existing home as a principal residence for at least 5 out of the past 8 years.
- The tax credit phases out as modified adjusted gross income goes from $125,000 to $145,000 for individuals or from $225,000 to $245,000 for joint returns.
- A written binding sales contract must be entered into by April 30, 2010, and the property occupied as a principal residence by June 30, 2010.
As with any tax-related issue, there are additional details about qualifying and filing for the credit. Your tax advisor will be able to provide you with the information you need in order to understand the fine points of this tax credit opportunity.
If you’re interested in purchasing a new home and benefiting from this tax credit, please call our mortgage loan staff at (202 707.5852. They’ll help you decide how much home you can afford, and pre-qualify you so you can negotiate with confidence!
The 2010 slate for the election of three, three-year positions on our Board of Directors includes incumbents Diane Dixson; John Husovsky; and Ed Knight; and new candidate and current member of the Credit Committee, Carolyn Turner-Dixon.
Because there are more candidates for election than positions available, election ballots are being mailed no later than March 8, 2010.
Please vote for the leadership of your Credit Union by returning your ballot in the post-paid envelope provided to the tellers of election. Do not return your ballot to LCFCU. Doing so will invalidate your vote.
Please mark your calendars and plan to attend on Wednesday, April 7 in the Coolidge Auditorium at 2 pm. Election results will be announced. And our 75th Diamond Anniversary of service to members will kick off with good news and in diamond style everyone.
LCFCU telephones and offices close at noon on Wednesday April 7 for our annual meeting.
Beginning March 15th, play the Super Sleuth Decoder Game for your chance to win $100 instantly or a weekly Grand Prize of $2,000 to help pay your bills. Super Sleuth will help you discover the ease of managing your finances online. From account balances and transaction history to paying bills online—even the baby sitter. Stay tuned for complete details!
|
2010 Sparkles for 75 Year Landmark
College Grant for High School Seniors 
