AmeriNewsNews from AmeriCU Credit Union

www.americu.org | 800.388.2000

WINTER 2015

introducing...a powerful revolution in online + mobile banking!

Y O U T A L K E D . W E L I S T E N E D .

Our online + mobile banking upgrade is complete and waiting for you! Visit www.americu.org and click the

button that says “Log In to Online Banking and Bill Pay” to try it yourself, see what’s new, and to start taking more

control over your finances at home and on the go with the latest in online + mobile banking technology. If you’re

an existing online banking user, enter your online banking UserID and password. If you’re new to online banking, use

your account number (without leading zeros) as an initial User ID and your TeleLink PIN as an initial password. For your

protection and security, you will be prompted to verify additional identity information and create a new User ID and

password for future sessions.

Along with our online banking upgrades, we’re excited to introduce new mobile banking apps, including an app

optimized for tablets! You can download the new apps by going to the App Store (iPhones and iPads) or Google Play

(Android phones) and searching “AmeriCU”. For more information about logging in and all the new features – visit

www.americu.org/conversion or call our Member Service Center at 1.800.388.2000.

AmeriNews Winter 2015

www.americu.org | 800.388.2000

PRIOR YEAR IRA/HSA CONTRIBUTION REQUESTSTo access the Prior Year IRA/HSA Contribution request form on our new online banking system, log in at www.americu.org, click on “Move Money” at the top of the screen, and then choose “Prior Year IRA/HSA Contribution Request”. You will need to provide all account information (type of account for contribution, account & share the funds are coming from, account & share the contribution is going to, and preferred method to receive the form for signature). Prior year contributions are not completed until all signed documents are received by the IRA Administrator.

UPCOMING CHANGES TO IRS INTERPRETATION OF THE IRA ROLLOVER RULEThe IRA Rollover Rule refers to the number of times per 12 month period an IRA holder may distribute IRA funds and then redeposit them back into the same IRA or into another IRA within 60 days without tax or penalty.

The previous interpretation from the IRS stated that an IRA holder may complete one (1) rollover per 12 month period per IRA owned. This included IRAs at different institutions and different types of IRAs. With this interpretation an IRA holder could potentially have more than one qualified rollover.

The IRS has changed its interpretation of the Rollover Rule to limit an IRA holder to one (1) rollover per 12 month period, regardless of the number of IRAs owned by the individual and no longer differentiates between the number of IRAs or IRA types. AmeriCU will be sending more information to IRA holders. For additional information, please visit www.irs.gov.

PROHIBITED TRANSACTIONS ON HSAsPlease remember that an HSA account CANNOT carry a negative balance. Per IRS guidelines, this is considered a prohibited transaction and the account no longer meets requirements to be considered

an HSA (retroactive to January 1 of the year in which the prohibited transaction occurred).

In the case of an HSA with a negative balance, the fair market value of the HSA account as of January 1 would be treated as a distribution and would be reported to the IRS on Form 1099-SA as a prohibited transaction. Therefore, no contributions to the HSA after January 1 of the year of the prohibited transaction would be tax-deductible or reported to the IRS on Form 5498SA. The account would cease to be an HSA, AmeriCU would cease to be its Custodian, and you would be ineligible to open another HSA account with AmeriCU Credit Union.

If you have any questions about IRAs and HSAs, please visit any AmeriCU Financial Center to speak with an advisor. We are happy to review your options with you!

Traditional & Roth IRA Contribution Limits for 2014( D E A D L I N E : A P R I L 1 5 , 2 0 1 5 )

$5,500: Age 49 and younger$6,500: Age 50 and older

Contribution limits remain the same for the 2015 calendar year.

HSA Contribution Limits for 2014

( D E A D L I N E : A P R I L 1 5 , 2 0 1 5 )Single: $3,300 Family: $6,550Over 55: $1,000

HSA Contribution Limits for 2015

Single: $3,350Family: $6,650

Over 55: $1,000

IRA + HSA ReminderIt’s important to know the contribution limits and deadlines for each calendar year for your IRA and/or HSA accounts:

Download our new mobile banking app!Visit the App Store or Google Play and search “AmeriCU”.

SPEND THERE

SAVE HERE

MANAGE YOUR MONEYANYWHERE!

CHECK BALANCESTRANSFER FUNDSDEPOSIT CHECKS

PAY BILLS + MORE!

A smart choice for your local financial needs.

Equal Housing Lender. Membership restrictions apply. Federally insured by NCUA.

AmeriCU’s Nominating Committee has announced that George

Bauer and Joseph Turczyn have been nominated to run for two open

positions on the Board of Directors. As there is only one nominee for

each position to be filled, the election will not be conducted by mail

ballot and there will be no nominations from the floor. The two nominees

will be seated at the annual meeting on Monday, March 9, 2015.

Board of Election UpdateMonday, March 9, 2015: Annual meeting and announcement of results of election.

Friday, March 20, 2015: Deadline for election of table officers of Board and Supervisory Committee.

Friday, March 27, 2015: Names of elected Officials and Officers posted in offices.

OUR YEAR 2015 ELECTION SCHEDULE:

IRA + HSA ReminderIt’s important to know the contribution limits and deadlines for each calendar year for your IRA and/or HSA accounts:

Check out our new AmeriCU Credit Card app!Our new standalone credit card app

allows you to manage your AmeriCU

credit card from your smartphone or

tablet and offers enhanced security

features, such as the ability to report

your card lost/stolen. To get the app,

search for “AmeriCU Card” in the Apple

App Store (iPhone and iPad) or Google

Play (Android).

I N T R O D U C I N G O U R N E W

• new + used vehicles (cars + trucks, marine, RVs, motorcycles)• home equity + home improvement• personal loans + credit cards

Visit www.americu.org or login to online banking for more info!

It’s okay. Most people get a little intimidated when it comes to managing their retirement savings. It’s hard to know where to turn or what to believe. One thing’s for sure…you need smart people you can trust who can help you sort it all out.

That’s what AmeriCU’s Retirement Peace of Mind™ service is all about: it’s four

simple steps to help ensure that you’re making the smartest choices with your money given your goals.

Retirement Peace of Mind…complimentary for AmeriCU members.

Now what?You’ve waited your whole working life for this...

* AmeriCU Capital Management, LLC, is registered as an investment advisor. Registration as an investment advisor should not be viewed as an endorsement of the firm by securities regulators nor does it indicate that the advisor has attained a particular level of skill or ability. All investment strategies have the potential for profit or loss and past performance is not a guarantee of future results. There can be no assurance that any specific investment will either be suitable or profitable for a client’s portfolio.

www.americu.org | 800.388.2000

A smart choice for your local financial needs.

Upcoming AmeriCU Events

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11th Annual Chilly Chili Run/WalkCazenoviaSunday, January 11th, 2015: 1pmAmeriCU is the principal sponsor of this year’s event and is proud to once again have a team participating. The proceeds of this event benefit the Cazenovia Children’s House. www.chillychili.com

America’s Greatest Heart Run + Walk Pre-RegistrationGriffiss Financial CenterFriday, January 26th, 2015: 11am – 4pmPre-register for America’s Greatest Heart Run + Walk at the Griffiss Financial Center on Hill Rd. in Rome on January 26th from 11am – 4pm or at Rome Free Academy January 31st from 8:30am – 11:30am. All proceeds from the Utica and Rome Heart Run + Walk support the work of the American Heart Association.

JANUARY

MARCH

Annual Membership MeetingGriffiss Park Office, Community Room | 231 Hill Road, Rome, NYMonday, March 9th, 2015 at 7:30pmAll AmeriCU members are invited to attend our Annual Membership Meeting.Your credit union’s 2014 performance and plans for 2015 will be reviewed.Refreshments and door prizes will follow the meeting.

America’s Greatest Heart Run + WalkUtica College Expo: Friday, March 6th, 2015: 9am – 9pmUtica Run + Walk: Saturday, March 7th, 2015: 6am – 1pmAmeriCU is once again a sponsor of our area Heart Walks, which has raised millions of dollars to benefit the American Heart Association. Join us at any or all of the upcoming Heart Walks and help support this worthy cause!

Home Builders and Remodelers of CNY Home and Garden ShowNew York State Fairgrounds March 19th – March 22nd, 2015Thursday, March 19th: 5pm – 8pmFriday, March 20th: 2pm – 8pmSaturday, March 21st: 10am – 8pmSunday, March 22nd: 10am – 5pmAmeriCU is a sponsor of the 2015 HBRCNY Home and Garden Show – one of the largest events of its kind in the Northeast. Whether building a home, remodeling or doing it yourself inside or out, the Home & Garden Show is a springtime ritual for homeowners and prospective homeowners. Gather ideas about home building, home improvement projects and to set up appointments with the experts.

COMING SOON... THE FAST, STRESS-FREE WAY TO E-FILE

YOUR TAXES!It’s that time of the year again. Look out for more information on how to easily prepare and e-file your federal return.

AmeriCU Home ShowTurning Stone Resort + CasinoFriday–Sunday, February 6th – 8th

Friday February 6th, 2015: 1pm – 7pmSaturday February 7th, 2015: 10am – 7pmSunday February 8th, 2015: 10am – 5pmAdmission: $8 ($2 off with Diamond Card), under 16: FREEAmeriCU Credit Union is the presenting sponsor of the 2015 Home Show at Turning Stone Resort & Casino. The event will include hundreds of companies and experts to answer your questions on any aspect of home ownership and upkeep! The show is expected to draw more than 100,000 people looking for all kinds of advice and products, including design, building & contracting, materials & supplies, art & furnishing, energy, maintenance, and financing. www.HomeShowAtTurningStone.com

FEBRUARY

CNY Boat ShowWednesday, February 11th –Friday February 13th: 1pm – 9pmSaturday, February 14th: 10am – 9pmSunday, February 15th: 10am – 5pmThe 2015 CNY Boat Show and Sale will showcase more than 500 all-new models of power and sail boats, including cruisers, sport boats, pontoon boats, personal watercraft, and docks. Come see the largest Upstate selection of boats on display in three huge buildings at the New York State Fairgrounds. In-water demonstrations, NYS Boating Information Center, and much more.

FEBRUARY CONTINUED...