TABLETALKThe Newsletter For Members Of United Teletech Financial Federal Credit Union

S U M M E R 2 0 1 7

Hunger Never Takes A VacationSince United Teletech Financial first opened in 1967, we have not only strived to provide wealth and financial security for our members but also to give back to those less fortunate and make a difference in the lives of others. We have always supported charities and nonprofits that not only perform crucial work around the community but also give vital services to those who need it most.

One of these organizations, Fulfill, strives to end hunger in our community and guarantee that no child goes without food. Hunger is not always visible in Monmouth and Ocean Counties, but every day, one in 10 of our neighbors does not have enough to eat. The challenge of ending hunger becomes even harder in summer when school is out. Children who depend on school lunches or backpack programs

that donate food to those in need often can’t get the nutrition they need.

This summer, we will be taking a stand against childhood hunger. For every loan that closes with us, United Teletech will be donating $10 to Fulfill’s Summer Meals program. Our goal is to provide 13,000 meals to the hungry children of our community. That’s enough meals to feed 700 children for two weeks!

United Teletech has a variety of loan offerings for you to take advantage of this summer:

Purchasing a home for the first time is a major, life-changing decision. You may be eager to get into your dream home as quickly as possible and rush through the process, but be careful of making these very common and costly mistakes.

Want advice on the home buying process? Call one of our knowledgeable and experienced mortgage officers at 866-462-5532. With more than 90 years of combined experience, they know the process and can walk you through every step. IN THIS ISSUE

HUNGER NEVER TAKES A VACATION

START SAVING AT LOCAL MERCHANTS

3 SIMPLE WAYS TO FIGHT IDENTITY THEFT

UNITED TELETECH FINANCIAL AWARDED AT 50TH ANNUAL MEETING

FAREWELL, DEAR FRIEND

WELCOME AND FAREWELL

4 COMMON MISTAKES WHEN BUYING YOUR FIRST HOME

4 COMMON MISTAKES WHEN BUYING YOUR FIRST HOME

TINTON FALLSATM, open access

205 Hance Ave. Tinton Falls, NJ 07724

Ph.: 732.530.8100 Fax: 732.530.2027

Lobby Hours Mon–Thur: 9 a.m.–4 p.m. Fri: 9 a.m.–6 p.m. Sat: 9 a.m.–Noon

Drive-Up Hours Mon–Fri: 8 a.m.–6 p.m. Sat: 9 a.m.–1 p.m.

MARLBOROATM, open access

67 Highway 9, Unit 4 Morganville, NJ 07751

Ph.: 732.530.8100 Fax: 732.536.1847

Lobby Hours Mon–Thur: 9 a.m.–4 p.m. Fri: 9 a.m.–6 p.m. Sat: 9 a.m.–Noon

NEPTUNEATM, open access

3636 Highway 33 Neptune, NJ 07753

Ph.: 732.530.8100 Fax: 732.922.1838

Lobby Hours Mon–Thur: 9 a.m.–4 p.m. Fri: 9 a.m.–6 p.m. Sat: 9 a.m.–Noon

Drive-Up Hours Mon–Fri: 9 a.m.–6 p.m. Sat: 9 a.m.–1 p.m.

HAZLETHazlet branch only accessible to IFF Employees (ATM available)

600 State Highway 36 Hazlet,NJ 07730

Phone: 732.335.2706

Lobby Hours

Mon–Wed: 9 a.m.–4 p.m. Thurs: 9 a.m.–5 p.m. Fri: 9 a.m.–4 p.m.

NORTH BRUNSWICKATM, open access

The Shops at Commerce Place

2201 US Highway 1 South, Suite 119-B North Brunswick, NJ 08902

Ph.: 732.530.8100 Fax: 732.398.8609

Lobby Hours Mon–Thur: 9 a.m.–4 p.m. Fri: 9 a.m.–6 p.m. Sat: 9 a.m.–Noon

Drive-Up Hours Mon–Thur: 9 a.m.–5 p.m. Fri: 9 a.m.–6 p.m. Sat: 9 a.m.–1 p.m.

MIDDLETOWNATM, access allowed only to AT&T badge-holders

200 Laurel Avenue Middletown, NJ 07748 MT A2-3A07

Ph.: 732.530.8100 Fax: 732.368.8195

Lobby Hours Mon–Fri: 8:30 a.m.–4:30 p.m.

BOARD OF DIRECTORS

Ruth Ann Kluin Chairman

Michael Hou 1st Vice Chairman

Derek D. Mahoney 2nd Vice Chairman

Ann C. Weingartner Treasurer

Gilbert B. Harris Secretary

Robert Dowd Director

Robert E. Hodges Director

Irene Kurc Supervisory Committee Chairman

The first step in the home buying process should always be getting pre-approved. Doing so will allow you to find out what size mortgage you can realistically obtain and use that information to find a house that is right for your budget.

Getting pre-approved also shows sellers that you’re serious about purchasing a house and will give you more standing when competing against other buyers.

In today’s market, first-time buyers are making offers that are not contingent on financing or inspection. This is a huge risk. All buyers should talk with their real estate agent and in some cases, their lawyer, before making an offer. If you opt out of a contingency, you could potentially lose thousands of your hard earned dollars in a worst-case scenario.

Just because a lender approves you for a certain amount, it doesn’t mean you can afford it. To see how much you can afford, sit down and create a detailed budget with all of your expenses and monthly bills. Use the budget to get an idea of how much you can spend on housing each month.

Staying below the limit of your maximum borrowing amount will give you more financial flexibility to cover all of the additional expenses that come when purchasing a home, such as title fees, closing costs, furnishings, paint and supplies for any renovations you need to make.

Sometimes attachment to a home that seems ideal can blind us from the reality of a situation. No matter how much you love a house, always be prepared to walk away from a deal if the risks and costs are just too high. Don’t let your emotions steer you into an offer that is just not right for you. There is always another house that you will love just as much!

NOT PRIORITIZING PRE-APPROVAL

NOT UNDERSTANDING THE RISKS

MAXING OUT YOUR MORTGAGE LIMIT

GETTING ATTACHED TO YOUR DREAM HOME

1.

3.

2.

4.

If you take out any of these types of loans, we will make a $10 contribution to Fulfill, helping to end hunger as you work toward your personal goals.

90 days of no payments

AUTO LOANS

Receive a $100 Home Depot gift card when your Home Equity Loan closes with United Teletech

HOME EQUITY LOANS

Help from a neighbor you can trust

UTF MORTGAGE

$100

T A B L E T A L K | S U M M E R 2 0 1 7

Every UTF member can save at a variety of local restaurants and businesses by downloading our FREE United Value Mobile App.

Next time you visit our Tinton Falls branch, stop by Greek Eats, less than a mile away, to savor authentic, modern, Greek street food in a fast casual setting. You can save 10% on your purchase by downloading the United Value Mobile App,

searching for “Greek Eats” and showing the offer as you pay. Greek Eats is one of nearly 50 vendors on our discount app, which can save you money at many of your favorite local merchants. It’s one of the ways you’ll be richer for knowing us.

To download our United Value app, please visit utfinancial.org/unitedvalue.

In 2016 identity theft affected 13.1 million people with losses totaling 15 billion dollars in the United States alone. To avoid falling victim to this increasingly common crime, here are some simple precautions to take.

START SAVING AT LOCAL MERCHANTS

3 SIMPLE WAYS TO FIGHT IDENTITY THEFT

T A B L E T A L K | S U M M E R 2 0 1 7

UNITED TELETECH FINANCIAL AWARDED AT 50TH ANNUAL MEETING

FAREWELL, DEAR FRIEND

On June 29, United Teletech Financial Federal Credit Union held its 50th annual meeting at its Tinton Falls branch location on Hance Ave, with dignitaries, members and staff on hand to celebrate the milestone.

“How far this little credit union has come and yet has still retained that commitment to helping people,” Ruth Ann Kluin of Freehold, NJ, Chairman of Credit Union for the past 26 years, said to attendees. “We’ve changed so much to keep pace with the big banks; in fact today we do just about everything they do. But we still serve people the same way we did when I first joined the credit union when it was still at Bell Labs.”

At the annual meeting, credit union officials recounted some of the successes for the past 50 years. “We are honored and humbled to hit this milestone,” said Leo Ardine, President and CEO. “So many have contributed to this cooperative over the years, and we are grateful to them for their service and belief that a small financial institution like ours could have a real impact on people’s lives.”

Our friend and longtime credit union volunteer Nancy Miller passed away peacefully on June 13, 2017. She is pictured here with her dear friend and companion, Nick Pasquarello. Nancy served our credit union as a member of our Supervisory Committee since 2003. Prior to that, she had been treasurer of the former Metuchen Edison Federal Credit Union, which merged into United Teletech Financial.

Nancy was a true credit union person, having worked or volunteered in many

credit unions and trade associations over the past 40 years. Her career of volunteering and supporting credit unions around the state has left a real legacy, one with handprints on many credit unions and smiles that won many hearts. She embodied people helping people, and we will miss her very much.

We are truly sad to have lost a credit union leader and are grieving to have lost a dear friend. We will remember her with fond memories.

David Frankil, President and CEO of the New Jersey Credit Union League, the trade association for credit unions in New Jersey, presented the credit union with an award for its achievement and congratulated all present for a remarkable journey.

At our annual meeting on June 29, officers for the upcoming year were selected. Ruth Ann Kluin will continue as Chairman of the Board. Michael Hou, Derek D. Mahoney, Ann C. Weingartner, Gilbert B. Harris, and Robert E. Hodges were also selected to serve on our board. We would also like to welcome Robert Dowd as a new board member at United Teletech Financial. Our Board of Directors’ collective passion and years

of experience will ensure that we continue to keep our promise that every person we interact with will be better off for the experience.

United Teletech Financial would also like to thank Randall Weihs for his 21 years of service on our Board of Directors. His leadership helped this credit union accomplish great things, and we are grateful for his wisdom and experience over this time.

WELCOME AND FAREWELL

BEWARE OF SPAMIf you think an email looks suspicious, don’t open it. Many spam emails have links that, if you click on them, can allow hackers to extract sensitive information from your machine or lock your computer until you pay a monetary ransom. Similarly, spam may include attachments that can infect your computer with viruses or ransomwear. Before you click on any link or download a file, be mindful of what you’re opening and who the sender is.

ACCOUNT ALERTS Setting alerts on your account is extremely easy at UTF. You can get a notification directly to your smartphone every time a large purchase or withdrawal is made with your United Teletech Financial, Mastercard Debit or Credit Card. This will give you the ability to take action the second an unauthorized charge is made.

To sign up for debit and credit alerts visit our website.

MONITOR CREDIT Are you checking your credit report? Keeping a watchful eye on it is a good way to ensure no one has stolen your identity. If a criminal has done so and used one of your accounts or opened an account in your name, catching any unusual activity on your credit report early will allow you to act quickly.