WCC

U E

mpl

oyee

sO

ut &

Abo

ut

Community

This Credit Union is federally insured by the National Credit Union

Administration.

Westerly ~ RichmondSouth Kingstown

www.westerlyccu.com 401.596.7000

WesterlyCommunity

Credit Union

Summer SavingsChallenge

You could win $1000!

.500%APR*

See enclosed flyerfor details!

Start with $10K, Retire a millionaire...

All it takes is money and time. But what this really means is you have to save money over time, and that’s where so many of us struggle.

Reaching age 65 with $1 million saved requires strong discipline and sustained ef-fort. You need to recognize the importance of starting early and putting away money regularly. But even if you don’t have so much time, you still have options.

25 years old: Starting outForty years is a long time. So long, in fact, that it’s easy to put off saving for the future. There are bills to deal with, college debt to pay, stuff to buy, vacations to take, a career to build…etc.

Savings -- sure, but who has money for that? Indeed, one out of every three Ameri-cans between the ages of 18 and 33 has no personal savings, according to a recent

Harris Poll survey. What’s more, 53% of this age group has zero in the way of retire-ment savings.

They’re missing out, big time. If a 25-year old with $10,000 invested $320 a month at a 7% annual compound rate of return until age 65, he or she would wind up with $1 million. At 7%, your money doubles every 10 years.

If saving a few hundred bucks a month seems daunting, rest assured it only gets worse. One way to make the job easier is to rely on your job -- specifically investing in your company’s 401k plan and enjoying whatever contribution match your employ-er offers. Think of it as free money.

Don’t have a 401k? Open a Roth IRA if you qualify, and automatically deposit money into it from your bank account to get tax-free growth.

Look for more ‘Retire a Millionaire’ advice in upcoming editions of Community News; July- for ages 35 & 45 and

August for ages 55+, and ‘retiring early’.

May- South County Hospital Employee Bank Fair: WCCU educated SCH employeesabout our products/services and our South Kingstown office. Thanks go to Jeff Byrd, Jeanne Abate, and Wayne LaGasse (MemFS Rep) for helping out.

April- YMCA Healthy Kids Day: WCCU employees volunteered at the WCCU sponsored Arcadia YMCA Healthy Kids Day. Thank you Joan Gradilone, Hannah Thompson, Kate Sykes, Nancy Kinirons, Amy Clark, and Mike Sujka for volunteering their time.

Make a Donation before your

Vacation, give Blood

this Summer!

Blood Drive When?July 1st

Time?12:00- 3:00

Where?122 Granite St, Westerly

A newsletterfor WCCU Members

NewsCommunity

June 2011 issue

,

Dress Down Jeans daysWeather closing info at 596-7000.CUARI GA day

No Points- No Closing Costs

Looking to Refinance? Look no further than WCCU.

*Annual Percentage Rate (APR) is effective 6/1/2011 and is subject to change. Rate requires 680+ credit score, and an “active” WCCU checking account. “Active” checking requires 6 transactions per month and direct deposit. Maximum loan-to-value 80%. Payments per $1,000 borrowed would be: 7 years at $13.13 and 10 years at $9.89. Minimum loan $30,000. Maximum loan $350,000. Requires First Lien Position. No cash out. Not available for new purchases. Without “active” checking rate would be: 7 years- 3.750% APR, 10 years- 4.000% APR,. Other rates & terms available. Other restrictions may apply.

Come visit any of our convenient locations in Westerly, Richmond or

South Kingstown or Apply online 24/7! It’s so easy!

WCCU CU4Reality Financial Literacy Fair

On May 11, 2011, Students from Westerly High School learned the reality of their financial choices during the CU4Reality Finan-cial Literacy Fair, sponsored & run by WCCU.

At the fair, students created a budget based on a salary and career they had already researched, and juggled needs-versus-wants to make sure they were living within their means.

They met with reps from local auto dealerships, insurance agents, lenders, utility providers, retailers and others, to help them choose options to incorporate into their budget sheet.

Realities, such as the true cost of a cell phone plan or the neces-sity for a roommate(s) were some of the overheard conversations. Several students were lamenting about needing a second job to support their life style.

Steve White, WCCU President & CEO stated, ‘Our hope is to teach our young adults the importance of good financial man-agement, so they will have a financially secure adulthood. This CU4Reality Fair was a great way to illustrate it’

The CU4Reality Program was created by a coalition of credit unions through America’s Credit Union Museum. Nancy DeLisle & Martha McGuinness, of the WHS Business Department, used an in-class curriculum during the school year to teach students important financial budget skills. Additionally, presentations were conducted by WCCU employees, focusing on topics such as Sav-ings and Investments, Credit, Budgeting and more.

Thank You to the local businesses who volunteered to help at the event: America Chrysler Jeep Dodge, Bella Vita Salon, Brumble Bikes, McQuade’s Marketplace, Mansfield Insurance, Ocean Community YMCA, Prudential Pequot Properties, Radio Shack, MEMBERS Financial Services, Money Management International, and National Amusements.

Thank you also to the following WCCU employees: Kim Gates, WCCU’s School Program Coordinator- who coordinated the event, Kate Sykes, Rebecca Gwaltney, Joan Gradilone, Jeff Byrd, Jeanne Abate, Wendy Gencarelli, JoAnn Pietraallo, Mary Ellen Buckley, and Meg Sisco- GREAT JOB!

We look forward to next year!

3.250%APR*

7-year Fixed Rate

3.500%APR*

10-year Fixed Rate

Kim Gates (left), WCCU School Program Coordinator, helps students with their budgets. Jeff Byrd (above) WCCU South Kingstown Branch Manager, helps students with car loans and savings.

Wayne LaGasse (above), MemFS Financial Rep at WCCU, helps a student with planning for retirement. Jeanne Abate (right) WCCU Senior Mortgage Officer, helps students with mortgage payments.