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In this Issue
Credit Union Info
Board of Directors
Fred L. Barrett, President
Randy Sheaffer, Vice-President
Donna L. Brown, Secretary
Betty L. Gray, Treasurer / Manager
Michele Dowdell
Edward Herr
James Raab
Thomas Shaffner
Sandra Smith
Education Committee
Josephine L. Cassidy
Carol Duff
Candace Vogelsong
Credit Committee
R. Eugene Clay, Chairman
Nelson Bolender
Gary Lewis
Supervisory Committee
Tom Shaffner, Chairman
Jeff Bundy
James Prigel
Maurice Tenney
Hours and Location
203 Booth Street
Elkton, MD 21921
Our representatives are available Monday through Friday during the
following times:
School Year Hours:
8:00 a.m. to 4:30 p.m. ES
Summer Hours:
June 22 through August 21
9:00 a.m. - 4:00 p.m.
Monday - Friday
Telephone:
410-398-6921
TellerLine:
1-800-388-8380
Online:
www.ccsefcu.org
Fax:
Count410-398-0032
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Something Holding You Back?
Release Yourself from High Rates
In such a tight credit market the last thing you need is a restrictive credit account. If you’re feeling tied down by your current credit agreement, we encourage you to try your hand at our no-annual-fee, low-rate Classic Visa. With a low rate of 8.99% APR*, you’re not likely to find a better deal on this side of the law. Fair deal terms, just $5 nominal balance transfer fee; zero minimum finance charges; and no purchase transaction fees. Release yourself from a high rate situation and shrink your monthly payments. Ask about transferring balances from a restraining credit card to our Classic Visa.
brian's
• A low 8.99% APR*
• No transaction fees on purchases
• No annual fee
• Nominal $5.00 balance transfer fee
• No minimum finance charge
• Very reasonable $15.00 late fees and $25.00 over-limit fees
For more information visit
1. Online at www.ccsefcu.org
2. Onsite at our office (8:00 a.m. - 4:30 p.m.)
3. By phone at (410) 398-6921
Make your move toward freedom today.
*Annual Percentage Rate. Your rate may vary based on your individual credit profile.
KELLY FINANCIAL GROUP, LLC (back to top)
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NO MANDATORY IRA
WITHDRAWALS IN 2009
This year, you don’t have to pull money out and pay the taxes. |
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provided by Bryan E. Kelly, CFP® and William S. Kelly, CPA, CFP® |
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Dear Members and Clients,
You don’t have to take RMDs from your traditional IRA this year. On December 23, President Bush signed the Worker, Retiree, and Employer Recovery Act of 2008 into law, suspending all Required Minimum Distributions (RMDs) from IRAs, 401(k)s and 403(b)s for 2009. This is sweet relief for people 70½ or older, especially people that don’t really need the IRA income. After all, no retiree wanted the “injury” of having to withdraw IRA assets already hurt by the recession plus the “insult” of having to pay taxes on the RMD. You can leave that money in your IRA in 2009 without incurring a tax penalty – and if the markets recover in 2009, those invested assets can grow and compound.
Now, what if you turn 70½ in 2009? Well, you can wait until the end of 2010 to take your first RMD, but the IRS will consider it to be your second RMD. The IRS says that if you turn 70½ in 2009, you have the option of delaying your first RMD until April of 2010. If you decide to do that, you will have to take two RMDs in 2010: one by April 1, 2010 for the 2009 tax year and one by December 31, 2010 for the 2010 tax year. But … since nobody has to take an RMD for 2009, those turning 70½ won’t be required to take a 2009 RMD by April 1, 2010. However, you will still have to take a 2010 RMD by December 31, 2010, which the IRS will count as your “second” RMD, even though you didn’t take a “first” one for 2009.
What does this mean for you? Do you need to take a withdrawal from your IRA, 401(k) or 403(b) in 2009? Should you leave the assets untouched this year? Should they be invested in a slightly different way? What could you do in 2009 to position yourself for 2010, when a horde of taxes will be waived and big tax breaks are available? It’s a good time to chat with your financial or tax advisor.
These are the views of Peter Montoya Inc., not the named Representative nor Broker/Dealer, and should not be construed as investment advice. Neither the named Representative nor Broker/Dealer gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If other expert assistance is needed, the reader is advised to engage the services of a competent professional. Please consult your Financial Advisor for further information.
Best regards,
Bryan E. Kelly, CFP®
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Skip-A-Loan Payment
Enjoy Some Extra Holiday Dough! (back to top)
 CCSEFCU wants to make your holiday a little greener with our Skip-A-Loan Payment Program. Choose either December 2009 or January 2010 to skip a loan(s) payment with us. You can choose to skip one payment for every loan you have with CCSEFCU!
It’s so easy to qualify: 1) all of your loans must be current; and 2) your savings and/or checking accounts cannot be overdrawn. Just a $25 processing fee (e.g., from your share savings account) is all it takes. There are no penalties for skipping – only a nice holiday break for you and your cash flow. Simply complete the form on the back of this newsletter, drop it by our office, or fax to: (410) 398-0032. We’ll take care of the rest.
Download the form here.
Annual Meeting (back to top)
Annual Meeting This is your chance!
Spend some time with fellow members and the Board of Directors at our Annual Meeting:
Thursday, February 4th, 2010 at Elkton Middle School - 4:30pm
Congrats Again! (back to top)
We are proud to announce another win for Belva Dibert, a scholarship winner announced in our last issue. Belva has now started at Boston University. She’s been awarded an additional $5000 scholarship through Education Exchange -which we sponsored on our website. Way 2 go, Belva!
Classified Ads (back to top)
As a service to our members, we offer free placement of classified ads in our newsletter. We reserve the right to publish submitted ads at our discretion.
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Share Newly Built
Waterview House PRIVATE SECOND FLOOR: 1 large bedroom w/bath, and sofa/TV/ computer area. Located near 2 marinas. In Hances Point, 3 min from North East. Share kitchen, laundry room, living room, front porch (w/swing), and back porch. Access to row boat. $650 a month (utilities are included). Contact: Judy @ 410-287-9643.
Share Home
Close to Rt 272 & I95. Senior gentleman share home with complete privileges of house. $520. Call Glenn 410-287-9614.
Duff Construction
Excavating – driveways cut out and stoned, basements dug out, footers, septic systems, and drain fields installed. Hauling, bulkhead repair, all site work, buildings demolished and removed. Contact Ernie Duff after 6pm please call 443-205-8093.
Carrion Plumbing, LLC
Master Plumber # 9864, Cecil County
# M-0458. Randall P. Carrion,
Home: 410-275-2961,
Cell: 443-350-3061
775 Pond Neck Rd.,
Earleville, MD 21919
JCR Professional Cleaning
Service
Always Reliable
Jo Beth Rutter, Owner
Hances Point Rd., North East, MD
Call for your FREE estimate 410-441-0442.
For Sale
A natural dark ranch mink full-length fur coat in excellent condition. The female skins are fully let-out, origin USA. It has a classic “Bill Blass” styling with a rolled collar - no worn places. It’s beautiful and elegant and will keep you toasty this upcoming winter. Size 10-12. Ankle length. Call 410-920-8373. The price is right.
For Sale
Luxurious, authentic, imported Kerman Persian Rug. Room size 10.3x15.9. Ivory field, with predominant blue, and pink edge design. Very nice. Call 410-920-8373.
Unique Holiday Gift for Spouse or Family!
Valentine Getaway. Bayse, VA ski resort 3.5 hours from Cecil Co. 2bd. 2ba. corner condo. Sleeps 6. Fully furnished kitchen, living room sleeper sofa, fireplace, hot tub, w/d. Snow skiing/boarding/tubing. Indoor pool & hot tub, sauna, fitness center. Games, movie rentals.
Thurs-Sun 2/11-2/14 $325 or
Sun-Sun 2/7-2/14 $600.
(443) 553-1349. |
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Reminders! (back to top)
 HURRY LIMITED TIME
Entertainment Books Money saving coupons and buy one, get one free dinners. On sale now for $30.00.
 International CU Day
Thursday October 15, 2009 Treats will be served for all members in honor of ICU Day.
 Christmas Club Accounts
Christmas Club Accounts will be deposited into members’ savings accounts on Thursday, October 1st. For those of you who do not have a Christmas Club account, talk to a member service representative about opening one today.
FRAUD ALERT:
Have you changed your phone or cell number(s)?
We need accurate information in order to contact you about your accounts. These numbers are important for your Visa credit card and debit card accounts as well, so please contact us if you have made any changes in order that we may update our records.
Holiday Schedule (back to top)
Please note that your Credit Union will be closed in observance of the following holidays:
Veterans Day
November 11, 2009
Employee Training
November 17, 2009
Office will open at 1:00pm
Thanksgiving
November 26 & 27, 2009
Christmas
December 24, 25 & 28, 2009
New Year’s Day
January 1, 2010
Martin Luther King Day
January 18, 2010
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Cecil County Schools
Federal Credit Union
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