Prescription Monthly Refill - February 2010
 Stuck in a Pile of Debt?
When the bills start to accumulate and you feel snowed in, use the equity in your home to get on top of it all. Stop the snowball effect of all those high interest rate bills by consolidating with one, easy payment at a great rate. Plus, the interest may be tax deductible (please consult your tax advisor).
Dig yourself out with a 3.99% APR* Home Equity Line of Credit at a fixed rate until June 30, 2011. It'll melt your heap to a more manageable size.
*Annual Percentage Rate (APR) effective January 1, 2010 and may be withdrawn without notice. All home equity loans are subject to a $150 application fee. This is a fixed rate until June 30, 2011, thereafter the rate is variable, subject to change quarterly based on the Prime Rate as published in the Wall Street Journal with a floor of 3.99% APR and a ceiling of 18.00% APR. Estimated monthly payment per $1,000 borrowed at 3.99% APR is $7.39. Line based on a maximum loan to value (LTV) of 80%.
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Celebrate the Day MSDFCU Started
On Tuesday, March 30, 2010, MSDFCU will reach a milestone in our history. On that date 60 years ago, the Drug Workers Federal Credit Union was officially started by seven employees. A few name changes occurred over the years until 1979 when the current name, Merck Sharp & Dohme Federal Credit Union, was chosen.
As we celebrate the start of our 60th year of service to our membership, we invite you to the MSDFCU Annual Meeting. All members are welcome to attend. Admission is free. You'll have the opportunity to learn about our past year and future endeavors while also recognizing outstanding volunteerism by our youth who were chosen as the Hoffman Award winners.
Date: Tuesday, March 30, 2010
Time: 5:00 p.m. Refreshments, 6:00 p.m. Meeting
Meeting Location: Pine Crest Country Club, Lansdale, PA
Register online, at any branch, or call (215) 996-3748 and leave a message including your name and number attending.
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Take Charge of Your Money:
Use Direct Deposit for Federal Benefits
Source: U.S. Department of the Treasury, Financial Management Service
Still receiving your federal benefit payments by paper check? You should know that your check is vulnerable to a variety of risk factors that can prevent it from arriving on time each month. Paper checks can be delayed, lost, or stolen - and leave you open to financial crimes such as check fraud and identity theft. In 2008, more than 485,000 Social Security and Supplemental Security Income (SSI) checks were reported lost or stolen and had to be reissued. Don't let your check be next - take charge of your money with direct deposit. Direct deposit is better than paper checks for federal benefit payments because it's:
- Safer - Eliminates the risk of lost or stolen checks and helps protect against identity theft.
- Easier - Money goes straight into your checking or savings account. There's no need to wait for the mail to arrive or to make a special trip to cash or deposit a check.
- More control - Your money is available on the payment day each month and accessible from virtually anywhere.
During Go Direct® Month in February, the U.S. Department of the Treasury urges you to take control of your monthly payments by switching from paper checks to direct deposit. With this one simple step, you can help safeguard your money from financial crimes and get your money on time, every time.
It only takes five minutes to sign up. Call the Treasury Department's Go Direct campaign helpline at (800) 333-1795, visit http://www.godirect.org/, or stop in and speak to a MSDFCU representative.
Rid yourself of the hassles caused by paper checks. Switch to safer, easier direct deposit for your monthly payments. It's your money - take charge of it. Sign up today!
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Extra Funding for Home Buyers
through April 30, 2010
 There's an opportunity for you to get up to $6,500 to $8,000 in tax credits towards a new home purchase - but you have to act now as the government program ends on April 30, 2010. The Worker, Homeownership, and Business Assistance Act of 2009 was extended for qualifying first-time home buyers who may be eligible for up to 10% of their mortgage in tax credits, up to $8,000. When this was extended, a provision was included for people selling their primary residence and buying a new one with a credit of up to $6,500. There are income limitations, deadlines, and other eligibility requirements (like length of time in your current residence), but if you qualify, this may be the right time to make your move!
When you are ready, MSDFCU has the tools you need to make an informed decision. If you're currently a homeowner, start by finding out what your home is worth using HomeValueBot. Simply enter your address and you'll receive an estimated value immediately with information on recent sales in your area.
First time buyers and those who need more information can research options and rates at our Mortgage Center website. When you're ready, simply apply online or call Rich Haselbarth at 215-996-3737 to discuss your mortgage needs.
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A Better Way to Pay for College:
Free... Cheap... Gap
 Did you know the average income of a high school graduate during their lifetime is $32,188 and a college graduate with a Bachelor's degree is $52,832 annually? That's a $20,644 difference. If you're looking to motivate your child, this may just be the encouragement needed. But then, how you pay for college becomes the next concern.
MSDFCU is making it easier to answer the question of "How?" with our new private student loan option. Our Student Choice private student loan is designed to help you fill the gap left after exhausting free funding (like Federal programs, grants, and scholarships) and other inexpensive lending options (like work study and government subsidized loans).
So, start talking to your child today about the benefits of higher education and relax knowing MSDFCU will be there to help.
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Spring 2010 CU Succeed University
Learn the basics of personal finance before you venture into the world on your own. You'll learn the skills you need to manage your income and debt when you leave the security of your parents' home.
Teens who complete all three consecutive sessions will receive $30, which will be deposited directly into his/her CU Succeed savings account upon completion of the final session. All classes begin at 6:00 p.m. and end at 7:15 p.m. and are held in the Board Room of the Chalfont Branch Office. Pizza will be served prior to the meetings beginning at 5:30 p.m.
CU Succeed University Schedule
 Session One: Budgeting
Wednesday, March 3
Session Two: Saving
Wednesday, March 17
Session Three: Credit
Wednesday, March 31
Sign up today to expand your financial knowledge!
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Upcoming Events and Seminars
- All MSDFCU offices will be closed on Monday, February 15, 2010 in observance of Presidents' Day. You can still access your account through Home Banking, CUTIPS, and at all ATMs. View all holiday closings.
- Our Annual Easter Egg Hunt will take place Saturday, March 13, 2010, at 10:00 a.m. (rain or shine) at North Branch Park, 207 Park Avenue, Chalfont, PA 18914. Remember to bring a basket or bag for gathering the eggs. Win prizes and meet Dollar Dog.
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