The Register - November 2007

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Low Rate on Visa® Balance Transfers

Fall into a low Visa rate by taking advantage of our balance transfer promotion. Until Nov. 30, 2007, if you post any balance transfer to an existing or a new SELCCU Visa Classic or Visa Gold Credit Card, you'll enjoy a promotional rate of 3.99% APR* until that balance is paid in full! This offer applies only to balance transfers from other financial institutions, not cash advances or purchases. Stop in today to meet with one of our Financial Services Representatives. You also may apply at www.selccu.org. There are no fees or charges to apply for balance transfers.

*Annual Percentage Rate. Offer applies to current SELCCU Visa cardholders and anyone who opens a SELCCU Visa during the promotion. Current cardholders cannot be over limit or delinquent in order to take advantage of the promotional rate. This offer applies ONLY to balance transfers from other financial institutions, not cash advances or purchases. If the account has balances with different APRs, payments are applied to the balance with the lowest APR before any payments are applied to those with the higher APRs (in other words, balances with higher APRs are not reduced until balances with lower APRs are paid). If the account becomes delinquent, the rate reverts to 11.5% APR for Visa Classic and 8.9% APR for Visa Gold.

Updating Your IRA Beneficiary

Most of us take time to ensure that important documents such as wills are updated frequently. But have you checked the beneficiary designation for your retirement account(s) recently? Your retirement accounts are not part of your estate and typically not governed by the provisions of your will, so it is important to keep beneficiary information updated.

This is especially critical if you have experienced a life-changing event: marriage, divorce, remarriage, birth or adoption of a child or death of a spouse. Neglecting to update this information may cause your survivors to battle in court to determine the true beneficiary. The court's decision may not necessarily be what you would have wanted. To prevent this situation:

	Consult with your financial planner to determine if your current beneficiary designation is the one best suited for you and/or if you need to make changes.
	Update your beneficiary designation immediately after a change in family status.
	Check with your financial institution periodically to determine who your beneficiary is; you may need to make changes.

Need More Holiday Dough?

SELCCU's Holiday Loan Promotion is Nov. 19-Dec. 31, 2007. You may qualify for a loan up to $1,500 with a 9.9% APR* for 12 months. For more details, please stop in or visit our Web site at www.selccu.org.

*Annual Percentage Rate. All new loans require application and credit approval. Rates and loan promotions are subject to change without notice. Sample monthly payment on loan amount of $1,500 is $131.81.

Scam Alerts: Fake Caller ID Numbers and Jury Duty Scam

According to ScamBusters.org, legal online services that supply fake caller ID numbers are being used by con artists to pose as representatives of credit unions, banks, credit card companies and government agencies. Since you have no reason to believe the name and phone number on the caller ID screen is not genuine, thieves will try to solicit personal information and money from you. The problem has reached a point in some states that legislators are sponsoring bills to ban the transmission of false caller ID numbers.

Scammers have also developed another way to commit identity theft … the jury duty scam. A thief, claiming to work for the local court, will call you to say you failed to report for jury duty and there is a warrant for your arrest. When you respond that you never received notification, the scammer asks for confidential information— Social Security Number, birth date and even a credit card number—for “verification” purposes.

Victims in several states have been caught off guard by the threat of an arrest warrant and were less vigilant about protecting their confidential information. The courts rarely call prospective jurors and will never ask you for private information over the phone. To protect yourself:

	Do not presume the information displayed on your caller ID screen is genuine.
	If you have doubts about who's on the phone, call back the number of record for your financial institution or credit card company.
	Never give out your personal or financial information.

If you have questions or concerns, please call us at 440-324-3400 (local) or 800-451-6315 (toll free).

Care Connection: Children’s Developmental Center

Through SELCCU's Care Connection program, local non-proﬁ t agencies receive donated items and monetary contributions from members and staff. Thanks to your generosity, we collected games and craft supplies worth $350 for the Children's Developmental Center in Amherst. The Center specializes in the treatment of infants, toddlers and young children through speech therapy, physical therapy, audiology and psychology.

Credit Score Tip…

… From the Fair Isaac Corporation, the company most financial institutions and credit card issuers rely on for the standard measure of credit risk:

If you spend more than 50 percent of your credit card limit regularly, your credit score may drop … even if you pay your bills on time and in full. It could appear your finances are stretched thin and that may be enough for a lender to view you less favorably. Your best bet is to use credit responsibly and spread purchases over more than one card to keep your balances down.

Holiday Closings

Thursday
November 22nd
Thanksgiving Day