BREWER FCU Quarterly News WINTER 2015

President’s CornerIs it really 2015 already? That means it’s time to begin our new year with new and innovative changes for our members! As most of you are aware, Brewer FCU is a financial institution that not only wants to deliver the best member service, but the highest quality technology to provide for a better experience as well.

Over the course of the year, we have risen above and beyond our competitors with our mobile app that lets you bank right from home. Now you can check balances, transfer money, use mobile deposit, even send money and never even leave your home! And that’s only the beginning. Coming soon, Brewer FCU will be undergoing a new web design makeover, which will create a more user friendly and modern feel to our new digital-age world. This will be taking effect in February.

Brewer FCU is proud to say that we have partnered with the Maine Principals Association. We want to help sponsor high school athletics through Penobscot County year round. By focusing on sports, we were able to help sponsor the 2014 Stearns vs. Schenck Alumni Basketball game held at Wentworth Gymnasium in Millinocket. The alumni ranging from 1997-2013 came together as one to help raise money for their school’s athletic departments. Be sure to watch for us at the Cross Insurance Center during the famous High School Basketball Tournament!

We are excited to announce that Brewer FCU has engaged in a new ‘digital magazine’, which we have called “Member Highlights”. This magazine will cover news stories in the Penobscot region to show the true spirit of this great county. Watch for the link printed on your January statement.

Brewer FCU also helped participate in the Free the Z Turkey Drive in November, which helped raise over 2,014 turkeys. And for the 3rd year, participated in the Hands for Hope for the Smile for a Child program, which turned out to be one of the best participations yet. Brewer FCU was proud to be a part of the check presentation to the Good Shepherd Food Bank of roughly $9,000 delivered by the Maine Credit Union League. We’ve also been able to raise over $4,000 for the Maine Credit Unions’ Campaign for Ending Hunger.

We want to assure you of our close monitoring of credit and debit card breaches; our member’s privacy and personal information is vital to us. You are our number one priority and we will alert any members that have been affected by these events. Be sure to keep a close watch on your accounts via home banking, Brewer FCU’s mobile app, or monthly statements.

As you can see, we here at Brewer FCU have been very busy and are continuing to grow to create a better experience for our members all around. Please be sure to like us on Facebook and follow us on Twitter to keep up with special promos, contests, & news! We are always looking to hear feedback from our members.

Sincerely,

Rick Kaul President/CEO

Meet Mallory!Brewer FCU is a proud partner with the Young & Free Maine program. Recently, a new Young & Free Maine Spokester was named to be the voice of the 18-25 year old crowd, making sense of your financial questions. Your new spokester is Mallory Lavoie of Bangor, Maine. Mallory graduated from the University of Maine in Orono with a double major in Journalism & French. In her free time, she enjoys coaching figure skating. Mallory has been to many events around Maine already, and will be on the road all year long. Following her helps make sense of your finances at YoungFreeMaine.com.

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Employee AnniversariesFull-TimeSean ............................................5 yearsLee ............................................12 yearsWill ..........................................10 yearsBridget ......................................16 years

Part-TimeChristina ..................................... 1 year

Upcoming EventsMaine High School Basketball Tournament February School Vacation

Holiday Closings

Martin Luther King, Jr. Day Monday, January 19, 2015

Presidents Day Monday, February 16, 2015

Memorial Day Monday, May 25, 2015

Independence Day Saturday, July 4, 2015

Labor Day Monday, September 7, 2015

Columbus Day Monday, October 12, 2015

Veterans Day Wednesday, November 11, 2015

Thanksgiving Day Thursday, November 26, 2015

Christmas Day Friday, December 25, 2015

Please note: We will be open for drive-up service ONLY on Christmas Eve, Thursday, December 24, from 8:00 a.m.– Noon.

Protecting Your Information Unfortunately, we hear more and more about credit and debit card breaches. Please be advised that Brewer FCU has been following the current debit and credit card data breach closely and is taking appropriate measures to protect member accounts. Protecting members’ personal information is our top priority, and we have multiple fraud detection services in place and real-time monitoring of credit and debit card purchases. In order to help fight fraud, it is recommended members monitor accounts through Online Banking or review statements promptly and immediately report to Brewer FCU any suspicious transactions. We would like to thank our members for their understanding and patience. Please feel free to contact us with any questions or concerns you may have.

Sponsoring SportsWe have partnered with the Maine Principals Association, who is the governing body for sports competitions among all public and some private high schools in the state of Maine. It is a member of the National Federation of State High School Associations.

Fundraising At It’s BestWe are excited to announce that we helped raise over $1,400 to help lift the hopes and spirits of the paper mill towns, Millinocket and East Millinocket. Two new banners, which were designed by our Marketing Specialist, donated by parents, will grace both gymnasiums symbolizing the game and its importance, a game dedication to a deceased and beloved mother of East Millinocket, and of course, the raised money to help out the school’s athletic departments! Roughly 1,000 people attended the game, and hopefully there will be more to come. We were very proud to be a part of it! You’ll be able to see photos and videos on our website at brewerfcu.org and our Facebook page as well.

By helping with the Free the Z Turkey Drive, we helped raise over 2,014 turkeys! And for the 3rd year, participated in the Hands for Hope for the Smile for a Child program, which turned out to be one of the best participations yet. Brewer FCU was proud to be a part of the check presentation to the Good Shepherd Food Bank, which the Maine Credit Union League generously donated roughly $9,000. We’ve also been able to raise over $4,000 for the Maine Credit Unions’ Campaign for Ending Hunger.

Digital MagazineHave you ever heard of Issuu Magazine? We hadn’t either, until recently, and we decided to take advantage of it. We have partnered with a professional photographer, who has photographed movie stars, presidents, and the Celtics, to help us get our magazine started! We are hoping to capture and convey Penobscot County’s great and untold stories, bringing happiness to all that read it. There are a lot of heroes and fascinating people out there that don’t get the recognition they deserve, but with our magazine, they will. You will be able to read it via computer, iPad, and mobile device. Be sure to check for the link at the end of your January statement, for that is when we will have the first issue released.

Don’t Let Snow Stop YouWhether you’re venturing out on your snowmobile, heading to your son/daughter’s special event, or just taking a ride through the wonderful snowy backwoods of Maine, remember that Brewer FCU is right there with you! With Shared Branching, credit union members can travel all over New England and across the nation without missing a beat. Shared Branching means you can walk into another credit union, make transactions, and use it as if it were your local branch. There is no better way to experience the striking scenery of winter in Maine then taking a drive on one of New England’s scenic byways, a drive through Millinocket, admiring the snow seascape of the coast, and much more! And accessing your money and making deposits couldn’t be easier with Shared Branching. With over 5,000 Shared Branch locations across the nation, you can chase the snow-scape all over the country and have access to your credit union account.

Tax Refund Tip: Save Your AgeFor many families, a tax refund represents a nice chunk of change. (Last year, the average federal tax refund was $2,755.) Trouble is, it’s easy for that money to get nibbled away before you know it.If you think you may get a refund this year, here’s a simple plan that can help you put it to good use:Save your age. For example:• If you’re 28, save 28% of your refund.• If you’re 61, save 61%.• If you’re 43 and your spouse is 45, split the difference and save 44%.The point is to set aside this money in a safe place for your (or your family’s) future well-being. You might consider investing it in a Roth IRA. Or if you want to have it on hand in case of an emergency, see us about putting it in a share certificate or savings account.What about the rest of your refund? That’s up to you. You might use it to pay down debt, buy winter tires for the car, or finance your next vacation. Whatever those other priorities are, you’ll know you’re on a little stronger financial footing than you used to be. And that’s a good feeling – no matter what age you are.

Keep the Green with SURF!Money is good. ATM fees are not good. At Brewer FCU we don’t want you to lose your money to ATM fees, which is why we are a part of the SURF ATM network, the largest surcharge-free ATM network in Maine. Travel across the state using one of over 230 SURF ATMs and save your money for better things. To find a SURF ATM near you visit mainecreditunions.org.

Box TopsDo you clip those Box Tops or Labels for Education from the items that you use, but never seem to make it to the school to donate them?Here at Brewer FCU, we have the perfect solution.Bring your Box Tops or Labels for Education to one of our branches and let us donate them to one of the area schools for you.

We’re turning in to find the best of Maine’s 25-and-under music crowd!

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Office Hours and Locations 77 North Main Street · Brewer 229 Dirigo Drive · Brewer

Mailing Address PO Box 189 · Brewer, ME 04412

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Email Address info@brewerfcu.org

Phone & Fax Numbers Phone (207) 989-7240 77 No. Main Street · Fax: 989-3440 229 Dirigo Drive · Fax: 989-5985

Member Audio Response System Phone 1-855-835-5281 or 207-989-4947 Our Services ACH Originations Bill PayerBusiness LoansClub AccountsConsumer Loans CO-OP Shared BranchCopy of Share DraftCorporate DraftsDirect Deposit (ACH)E-Statements and E-Alertsfree4ME CheckingGAP CoverageGift CardsHealth Savings Accounts (HSAs)Individual Retirement Accounts (IRAs) Instant IssueMember PrivilegeMerchant Card ProcessingMobile BankingMobile BillPayMoney MarketsMoney OrdersMortgage LoansNight DepositOnline BankingPayroll DeductionPerson-to-Person (P2P)Remote CaptureRoute 66 Extended WarrantyRoth IRASBA LoansShare (Savings) AccountsShare CertificatesShare Draft (Checking) Accounts Shared BranchingStatement CopyStop PaymentsSweep AccountsTraveler’s CardsU.S. Savings Bonds – Redeem onlyVisa® Check Card (Debit)Visa® Credit CardsWire Transfers Youth Accounts

For rates on our Shares, Money Manager, Share Certificates and IRA Share Certificates, please give us a call or go to our website brewerfcu.org.

New Year’s Resolutions through the ages

Long-standing IRS Rollover Interpretation ChangingIf you’re considering rolling over your IRA assets to an existing or new IRA, you need to be aware of an upcoming change that will affect IRA rollovers. The IRS is changing its interpretation of the one-per-12-month rule following a recent U.S. Tax Court ruling in Bobrow v. Commissioner. The court ruled that a taxpayer is limited to one rollover per 12-month period, regardless of the number of IRAs he has.The IRS for decades stated that you could roll over one IRA distribution per 12-month period for each IRA that you own. The IRS issued guidance in March 2014, stating that it will apply the tax court’s new interpretation going forward, but that it will not apply before January 1, 2015 for 2014, therefore, you still are

allowed to roll over one distribution for each IRA you own during any 12-month period. The 12-month period begins on the day that you receive the IRA distribution. In addition, the IRA assets that are rolled over may not be rolled over more than once during the 12-month period.When the IRS applies its new interpretation effective for distributions taken on or after January 1, 2015, you may roll over only one IRA distribution in any 12-month period, regardless of how many IRAs you own. You still may perform an unlimited number of transfers.You should consult with a competent tax advisor if you are rolling over an IRA distribution. Copyright ©2014 Ascensus, Inc. All Rights Reserved. #82 (08/14)

The New Year is a great time to start a good habit – and maybe give up a bad one. At various stages of life, there are resolutions you might make that could improve your future financial situation. Consider, for example:

18 AND UNDER:“I will save part of what I earn.” Consider dividing the money you receive into three jars: one for spending, one for saving for a desired purchase, and the third for charitable giving. This is a great way to practice planning ahead for things you really want.

COLLEGE YEARS:“I won’t put more on my credit card than I can pay off each month.” To teach yourself this valuable habit, first set a monthly spending limit. Keep checking your balance online, and stop when you hit the limit. “I will study my pay stub from work and learn about income tax.” Deductions for taxes, FICA, and Medicare can take a surprising bite out of your summer or part-time pay. Not sure what they’re all about? Check H&R Block’s Tax Tip 52 (hrblock.com).

THE 20s:“I will try to pay off my loans promptly.” Resist extending the repayment term on student and auto loans. You may pay less each month, but you’ll owe much more over the life of the loan. “I won’t let credit card debt get out of hand.” Credit card balances tend to creep up from month to month – and the steeper the interest rate, the more you’ll pay. If you can’t zero out your balance every month, ask us about the Brewer FCU credit card. Our low rate tends to beat most bank cards.“I will save for my future financial independence.” Even if you start small with just 5% of every paycheck, launching a savings

plan now can pay off big, thanks to the power of compounding. If your employer will match 401(k) contributions, don’t pass up this free money! No 401(k) at work? Let us help you open a tax-favored IRA. “I will prepare my own tax returns.” As a citizen, you should know how our government is funded. With programs like TurboTax® that ask you questions and do the math for you, it’s not as gnarly as you may have thought.

FAMILY YEARS:“I will try to keep all our debt payments under 36% of our gross income.” Most lenders would say you’re in good financial shape if your monthly loan payments take no more than about a third of your pretax income. “I will keep funding my retirement savings.” We know how hard this is, with so many family expenses. Make it easier with automated 401(k) contributions or account transfers into an IRA. “I will consider buying a home.” Homeownership isn’t for everyone, but it does have many advantages. If you’re interested, talk it over with one of our Mortgage Loan officers. “I will start a college fund for our child(ren).” Most parents can’t pay the full cost of college, but whatever you save could mean less debt for a graduating student. Your best bet may be a 529 college savings plan (visit savingforcollege.com).

THE 50s, 60s, AND OLDER:“As long as I keep working, I will try to save more and reduce debt.” The bigger your nest egg, the better the odds that it will last as long as you do. And cutting back on debt will leave more money for the good things in life. “I will get an expert financial opinion before I retire.” For a flat fee, you can ask a financial planner to assess your retirement.