Douglas Memorial FCU Merger (back to top)

In December Douglas Memorial Federal Credit Union merged with Securityplus Federal Credit Union. Securityplus FCU has selected a great partner in Douglas Memorial FCU.

Our Board of Directors believes that uniting our credit unions is in the best interest of all members. And we are excited about this new endeavor. Our merged institution is better equipped to meet members’ ever-changing financial needs and is able to stay competitive in today’s financial marketplace. We look forward to continuing to offer all of our members competitive rates on loans, high yield dividends on savings and lower fees.

The new branch is located in Baltimore City at 1325 Madison Avenue on the lower level of the Douglas Memorial Community Church. To access the credit union you will need to enter the building from West Lafayette Avenue; simply ring the doorbell and a church staff member will let you in.

This branch will operate as a non-cash office Wednesday and Friday 1:00 p.m. - 4:00 p.m., Saturday 9:00 a.m.- 12:00 p.m. and Sunday 8:30 a.m. - 9:30 a.m. A cash dispense machine will be available soon.

www.SecurityplusFCU.org Gets A Facelift! (back to top)

In order to expand our online services, we are improving our web Application Center. Soon, you will be able to open deposit accounts, request balance transfers and more, simply and easily from your computer.

Be on the lookout for our updated website. We are very excited about the new site and we hope you will be, too! The new layout and features will provide simpler navigation and quick links. Additional features will be highlighted in future issues of Sharing Times.

If you have any questions or concerns, email comments@securityplusfcu.org, or contact our Call Center at 410-965-8908 or 1-866-4SECPLUS.

2010 Annual Meeting (back to top)

This year’s Annual Meeting will be held on Wednesday, April 7th, at Martin’s West in Woodlawn, MD.

We will serve light fare and refreshments from 5:00 – 5:45 p.m. The business meeting will begin at 6:00 p.m. Door prizes and a complimentary gift will be offered to members in attendance.

All members are cordially invited to attend. In order to help us adequately plan for the Annual Meeting, reservations are requested. Please complete an online reservation form by March 17th.

If there is a question or concern that you would like addressed at the Annual Meeting, email the Nominating Committee at nominatingcommittee@SecurityplusFCU.org by March 10th.

Reminder: Only primary members may attend. A primary member is the first person named on each account. If joint owners on your account wish to attend, stop by any Securityplus FCU branch and request a membership application

Saver’s Credit (back to top)

Do you have an existing IRA or pension plan? If so, you may be able to receive a federal “match” or income tax credit for the first $2,000 of annual contributions.

You could take as much as $1,000 off your tax bill if you’re single, or as much as $2,000 if you’re married. The actual credit amount depends on income, filing status, taxability and how much was contributed into retirement plans for the year.

The credit – known as the Saver’s Credit – can be claimed by:
• Individuals with incomes up to $27,750
• Head of Households with incomes up to $41,625
• Married couples filing jointly with incomes up to $55,500
• Married individuals filing separately with incomes up to $27,750

To qualify, you must be at least 18 years old, cannot be a full-time student and cannot be claimed as a dependent on someone else’s tax return.

Contributions to a Traditional IRA or Roth IRA as well as to employer-sponsored 401(k) or 403(b) plans count toward computing the credit. The credit appears on the 1040 and 1040A tax returns.

If you have questions about your specific tax situation, contact your tax advisor for an interpretation of how these rules apply to you.

Turbo Charge Your Tax Return with TurboTax (back to top)

The easy way to your maximum refund is just a click away! TurboTax is an easy, accurate and secure way to prepare and file your tax returns.

Let TurboTax:
• Guide you step-by-step through your return, with special help for first-time users, and then doublecheck your return for accuracy before filing
• Save you time by bringing information directly in from your Credit Union account(s)
• Get you the refund you deserve fast – in as few as 8 days with e-file and direct deposit to your Share or Checking account

This year, you’ll find TurboTax inside your Securityplus FCU Online Banking account. Visit www.SecurityplusFCU.org to access Online Banking and click on the “My TurboTax” tab.

Don’t currently use Online Banking? Don’t worry. Simply contact our Call Center at either 410-965-8908 or 1-866-4SECPLUS for assistance. Online Banking with Securityplus FCU allows you free, secure access to your accounts 24 hours a day, 7 days a week from wherever you are.

The Best Thing To Invest In… You! (back to top)

Provide financial security for your future with a tax-deferred* IRA Share Account or IRA Share Certificate.

IRA Share Accounts and IRA Share Certificates offer tax-deferred earnings and the possibility for tax-deductible contributions* so you can create a balanced, long-term savings plan.

A Traditional IRA Share Account offers:
• The potential to qualify for a tax credit up to the amount of your contribution*
• A low minimum opening deposit of $25.00
• The flexibility to make contributions anytime by payroll deduction, automatic transfer, Online Banking, mail or at branch locations

And your participation in an employer-sponsored retirement plan won’t affect your ability to contribute to a Traditional IRA.** Rollover or transfer funds from a qualified retirement plan into a Traditional IRA or Roth IRA without penalty.

A Roth IRA is a more flexible investment. Earnings are tax-free if the account is open for at least five tax years and withdrawals are made for a qualified reason such as member has reached age 59½, disability, death or first-time home purchase.*

Like Share Certificates, IRA Share Certificates offer higher earnings but have a minimum initial deposit of $1,000 – grow your Traditional IRA or Roth IRA balance to $1,000 and you can transfer it directly into a new IRA Share Certificate.

With an IRA Share Certificate:
• Earnings are tax-deferred* until withdrawn – usually at the time of retirement when your tax bracket may be lower
• Contributions may be tax-deductible*
• Terms are 2-, 3- and 5-years
• Dividends cannot be automatically withdrawn or transferred

Starting an IRA, or transferring an existing one to the Credit Union could be one of the best financial moves you’ll ever make.

And remember, you can even make a contribution to your IRA by having your income tax refund (or a portion of your refund), paid directly to your Traditional IRA or Roth IRA.

Visit www.SecurityplusFCU.org, contact the Call Center at 410-965-8908 or 1-866-4SECPLUS, or visit your nearest branch for more information.

*Not intended as tax advice. Please consult a tax professional.
**When age and compensation requirements are met. If you currently participate in a Thrift Savings Plan (TSP), contact your agency personnel office, service TSP representative or tax advisor for participation requirements.
†The National Credit Union Share Insurance Fund (NCUSIF) insures savings accounts to an aggregate of $250,000. Traditional and Roth IRAs are insured individually to an aggregate of $250,000.

Board of Directors Nominees (back to top)

The following people have been selected, by the Nominating Committee of the Board of Directors, to serve on the Board for a term of 3 years beginning April 2010.

Robert L. Berzanski–He currently serves as Treasurer of the Board of Directors, the second most important position on the board. He is a Trustee of the Credit Union’s Pension Benefit Plan. He works closely with the CEO to monitor members’ money and help it grow in a safe environment. He is Chair of the Asset/Liability/Investment Committee that monitors assets and investments (over $300M). He previously served as Secretary (2 years). He has also served on the Budget, Strategic Planning, Information Systems Technology and Nominating Committees. He is a Management Analyst at SSA, Office of Budget, Finance and Management and a college graduate. He has thirty years of various SSA training and six years of Credit Union training. Securityplus FCU member since 1990.

Michael H. Bostron–As a member of the Board of Directors he serves on several committees that enhance the operations of the Board and oversee the safety and soundness of Credit Union finances and investments. His expertise in computer security helps to ensure that our computer systems adequately protect your personal information and ensure the accuracy of computer records. He is a Certified Information Systems Security Professional. He is a college graduate with a B.S. in Statistics from VA Tech, a family man, active in his church and community, long time member, an experienced auditor, contract manager and leader in other areas which helps him to be a valuable member of the Board. He has chaired the Building and the Policy & Bylaws Committees. He is a Trustee of the Credit Union’s Pension Benefit Plan. He has also served as a member of the Planning, Asset/Liability/ Investment and Information Systems Technology Committees. He chairs the Permanent Endowment Fund Committee for his church and is a member of his Church’s Council. He is a member of the Board of Directors, and Board Treasurer, for the National Association of Civil War Brass Music and for ESCAPE Ministries. He is an Eagle Scout and has been a Boy Scout leader for over 34 years. He has also coached boys and girls soccer, basketball and baseball for Howard County Recreation. Securityplus FCU member since 1976.

Andre F. Brown, Sr.–Has served on the Board of Directors since 2007, when he retired after 41 years of government service at the Social Security Administration. He is currently the Vice Chairperson of the Board of Directors. He is the current Chair of the Planning Committee and previously served as the Chair of the Information Systems Technology Committee. He brings to the Board a wealth of executive level experience in Strategic Planning, Financial Management, Human Capital Management and Information Systems Management. He is a U.S. Army veteran with a B.S. in Accounting from the University of Baltimore, a M.A.S. from Johns Hopkins University, married, and very active in his local church. Securityplus FCU member since 1970.

Bernice J. Chase–Executive Officer at the Social Security Administration, Office of Retirement and Disability Policy, Office of PolicyNet and Program Support. Previously held positions with SSA include Management Analyst, Personnel Management Specialist and Finance Management Specialist. She currently serves as Command Sergeant Major with the U.S. Army Reserve and holds the distinguished honor of being the senior enlisted advisor to the Commander, 55th Sustainment Brigade, located at Fort Belvoir, VA. She was deployed to Kuwait and Iraq from October 2004 to December 2005. She holds a B.S. in Business Administration from Towson University and a Masters of Arts degree in Management from the College of Notre Dame. Previously held positions with the Board of Directors include Chairperson and Second Vice President. She has served on every major committee including Strategic Planning, Human Resources and Nominating. Securityplus FCU member since 1980.

Donna Y. Jackson–Has worked for the Social Security Administration for 38½ years. She is currently a Module Manager in the Office of Disability Operations. She has served on the Board of Directors for 12 years. She has been an active member of the Executive, Strategic Planning, Policy and By-Laws, Nominating, Succession and Budget Committees. She has been a diligent volunteer in service to the Credit Union and will continue to provide the best service to enhance products and services, keeping Securityplus FCU the best financial institution available to members. She attended the College of Notre Dame. Securityplus FCU member since 1976.

Others who wish to stand for election may have their names placed on the ballot if they present a petition signed by at least 1% of current Securityplus FCU membership in good standing to the Nominating Committee by Tuesday, February, 16th.

Each nominee by petition shall submit a brief statement of qualifications and biographical data in such form as approved by the Board of Directors and a signed certificate stating that they are agreeable to nomination and will serve if elected to office. There will be no nominations from the floor. If you have questions, please send email inquiries to nominatingcommittee@SecurityplusFCU.org.

Prepare For Next Year’s Wish List… (back to top)

Open a Club Account Today

Our Holiday Club is a special purpose account designed to help you budget for the holidays, and can be opened with a minimum deposit of $25.00.

To make the most of a Holiday Club account, determine your holiday budget now and divide the amount by the number of paychecks you’ll receive over the course of the year. Have this amount deposited into your club account every payday. Deposits can be made anytime through Online Banking, automatic transfer, ResponseLine, at any branch or by mail.

Earned dividends are based on your day-in, day-out balance, and are compounded and credited monthly. The balance will be transferred to your Share or Checking account on November 1st and the account remains open after disbursement so you can start saving again for next year.

Looking to save for a dream vacation or another special purpose?

Open a Name Your Club account. Similar to our Holiday Club, this account can be opened with a minimum deposit of $25.00 and dividends are credited monthly, but the balance is available whenever you want – any time of the year.

Deposits are made the same way - through Online Banking, automatic transfer, ResponseLine, at any branch or by mail.

Plus, you can name the account whatever you want – Back to School Fund, Dream Vacation or Shoe Stash - and it’s easily recognizable on your statements and in Online Banking.

Contact the Call Center at 410-965-8908 or 1-866-4SECPLUS, visit www.SecurityplusFCU.org or the nearest branch to learn more about our club accounts.

Visit with Santa Highlights (back to top)

On December 6th, we held our Visit with Santa event.

We would like to thank all who attended for making it such a great success, and for donating canned goods to benefit the Reisterstown Community Crisis Center Food Pantry.

We would also like to send a special thank you to Santa for traveling all the way from the North Pole to spend the day with us.

Did you know that Santa is also a proud member of
Securityplus FCU?

All members under the age of 10 who attended had their picture taken with Santa, received a goodie-bag, were able to participate in face painting and crafts, and enjoyed a variety of refreshments.

Pictured above left is Santa with Lanaya, top right is Saniya getting her face painted, and bottom right is Jo Ann England and grandson Nicholas.

We Couldn’t Have Done It Without You (back to top)

During the month of October, Securityplus FCU members and staff raised $2,872 to benefit the American Breast Cancer Foundation and breast cancer research.

The Credit Union matched all funds collected, up to $1,000.00, and a check was presented to Ms. Dodie Lazzati, ABCF Development Officer, on November 9th.

Securityplus FCU believes that the investment in people is above all else. We support our loved ones, friends and co-workers affected by breast cancer, and are passionate about finding a cure.

Safeguarding Your Information Safeguards You (back to top)

Courtesy of: Kathleen Browning
Manager - Baltimore Downtown

At home, you can lock your doors. When it comes to your car, you can activate the alarm system. But what can you do to protect your identity?

Identity Theft is one of the fastest growing crimes in America. Someone illegally using your Social Security Number and assuming your identity can be more trouble than a car thief or house burglar. Identity thieves can use your number and your good credit score to apply for credit in your name. Then, they use the credit cards and do not pay the bills. You may not find out that someone is using your number until you are turned down for credit or you begin to get calls from creditors demanding payment for items you never bought.

What better time than now to educate yourself in protecting your personal information? Here are a few quick tips:

• Keep your Social Security card at home in a safe place, wherever you keep your important paperwork;
• Safeguard your number as well - don’t give it to just anyone; many places you do business with may ask for it as a means of identification even though they can use other identifying information; and
• Shred before you toss - identity thieves can rummage through your trash or recycling material and find a goldmine of information, so be sure to destroy any identifying information before you throw it out.

While we’re talking about safety, here’s another great tip: if you receive a benefit from Social Security, get direct deposit. With direct deposit, your payments are electronically sent right to your Credit Union account and there’s no risk of a payment being lost in the mail or stolen from your mailbox. Signing up is quick, easy, and secure. To learn more, visit www.socialsecurity.gov/deposit.

If you believe someone may be using your number or identity, you should contact the Federal Trade Commission at 1-877-IDTHEFT or www.ftc.gov/bcp/edu/microsites/idtheft.

1st Time Home Buyers Tax Credit – Extension (back to top)

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit¹ of up to $8,000 for qualified² first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010.³

This act has also established a tax credit¹ of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010.³

Participating in the tax credit program is easy – simply claim the tax credit on your federal income tax return, no other applications or forms are required, however, you must meet income limits and home buyer standards to qualify.²

If you have specific questions regarding your unique situation, consult a qualified tax advisor or legal professional. You can also visit www.federalhousingtaxcredit.com for additional information.

¹The tax credit is equal to 10 percent of the home’s purchase price, up to a set maximum.
²Subject to income limitations; consult your tax advisor.
³In some cases, a home purchase completed by June 30, 2010 will qualify.

Your Words (or Pictures) Could Be Worth $1,000…CU Scholarship for You
(back to top)

Are you or a family member headed off to college in 2010? Securityplus FCU is pleased to announce a college scholarship opportunity that may make it easier to meet your tuition needs.

If you are a member* of Securityplus FCU who currently attends or has been accepted to college, you are eligible to apply for one of ten $1,000 essay-based scholarships and one $1,000 video-based scholarship from the Credit Union Foundation of MD & DC.

This year’s essay topic:
How can your credit union membership help you avoid financial pitfalls?

The 2010 video** challenge:
Create a 60-second advertisement promoting credit union membership.

Be innovative!

Completed Scholarship Packages must be received by March 31st; scholarships will be awarded in May.

Complete details on the Scholarship Program can be found at www.SecurityplusFCU.org, or the Foundation’s website, www.cufound.org/scholarship.htm.

*Applicants must be entering freshman through senior year of college.
**Run time of video must be 60 seconds or less.

Holiday Schedule (back to top)

While our branches may be closed on the following holidays, you can still access your accounts online or visit one of our 37,000 surcharge-free ATMs.