Summer 2021 Newsletter

Your Summer Fun Starts Here!

We can help you make the most of your summer! Whatever your destination, you can take the high road with us. Beat the heat with our low-rate loan specials!

New/Used Auto Loans: Rates as low as 2.00% APR*

Summer Fun Loans: Rates as low as 5.99% APR**

Home Equity Loans: Rates as low as 3.00% APR***

Borrowing from Dutch Point is easy! Our loan application is available 24/7 and is simple to complete. Qualifying loans can be approved in minutes. To learn more or apply: visit dutchpoint.org or call 860-563-2617.

Membership in Dutch Point Credit Union with a $5.00 savings account is required prior to any loan disbursement. Federally insured by NCUA. We do business in accordance with the Fair Housing Act and the Equal Credit Opportunity Act. NMSL# 466823

* APR - ANNUAL PERCENTAGE RATE. “As low as” rates are based on credit history, term selected, age of vehicle, mileage, and maximum 80% loan to value ratio. Vehicle must be model year 2013 or newer to qualify for our lowest rate. Certain conditions may apply. Rate may not be combined with any other credit union promotions or rate discounts. Existing DPCU loans do not qualify for refinance. Rate, terms and conditions are subject to change without notice. A car loan of $20,000 with a 5-year term at 2.00% APR results in 60 monthly payments of approximately $17.53 per $1,000 borrowed. This offer may be withdrawn at any time.

** APR - ANNUAL PERCENTAGE RATE. “As low as” rates are based on credit history and term selected. 24-month rate is available for a limited time only and subject to change without notice. $10,000 maximum loan amount. Certain conditions and restrictions may apply. Rate may not be combined with any other CU discounts or promotions. Existing credit union loans/debts do not qualify for promotion. A Personal Loan of $10,000 with a 2-year term at 5.99% APR results in 24 monthly payments of approximately $44.33 per $1,000 borrowed. This offer may be withdrawn at any time.

*** APR - ANNUAL PERCENTAGE RATE. “As low as” rates are based on credit history and term selected. APR listed includes a .25% discount for Dutch Point Credit Union being in first lienholder position. Rate is subject to change without notice. $10,000 minimum loan amount and $150,000 maximum loan amount. Loans will be made against your primary residence, 1-4 family homes located in the states of CT, MA and RI. Loans can be made against a second home, however additional conditions will apply. Property insurance is required. A Home Equity loan of $25,000 with a 5-year term at 3.00% APR results in 60 monthly payments of approxi- mately $17.98 per $1,000 borrowed. Payments do not include amounts for taxes and insurance premiums; if applicable, the actual payment obligation will be greater. This offer may be withdrawn at any time.

195 Silas Deane Highway, Wethersfield, CT 06109 / 800-842-1778 / 860-563-2617 / www.dutchpoint.org Good credit starts with a good understanding of how credit scores work.

Dutch Point can help you navigate the sometimes confusing world of credit. We are passionate about helping members young and old understand what they can do to manage their credit responsibly. Building and keeping a good credit score is a lifelong process. With a little help from Dutch Point you’ll be able to avoid the pitfalls and save money while financing your dreams. Let’s begin by looking at what makes up a credit score.

Your credit score is a three-digit number that represents your creditworthiness. In the simplest of terms, it gives lenders an idea of how timely you are in repaying your loans and bills. It is also used by many lenders, including Dutch Point Credit Union, to determine the interest rate you’ll pay on a loan or credit card. Most scores range from Improve your credit score in 2021 300-850, and they can change frequently depending on changes in your credit report. FICO credit score is calculated using five major factors.

Payment History (35% of your credit score) - Payment history plays the biggest part in determining your credit score. It includes payments on installment loans, credit cards, mortgages, student loans, and more. One late payment can have a serious negative impact to your score.

Amounts Owed, also known as Capacity (30% of your credit score) - If you have large balances on multiple installment loans, or your credit cards have high balances in relation to your credit limits, your score will be reduced.

Length of Credit History (15% of your credit score) - The longer the better – that’s why it’s important to begin establishing credit as early on as you can.

New Credit (10% of your credit score) - It’s important to space out any new credit you open, rather than open- ing several new accounts at the same time or within a short time period. Lenders might think you’re running into financial difficulties if you’ve opened too much new credit too quickly.

Credit Mix (10% of your credit score) - A healthy mix of different types of credit is important to have -- it shows a lender that you can be responsible with various credit options.

We offer FREE Personalized Credit Reviews Member Testimonial Our personalized credit review program allows you to get I just wanted to thank you again for saving me an annual check-up on your financial picture. 7% on my refinanced auto loan. After I saw Our credit specialists can help you understand how your the Dutch Point ad for credit reviews, and you credit score is calculated and what factors contribute to confirmed that all it took was a soft pull of my your score. You’ll get a line by line consultation of your credit report to determine my rate which credit history and walk away with tips on how to main- saved me money -- I was sold. Thanks again tain your credit score or improve it if needed. Our spe- for the service you provide to your members!! cialists will also educate you on ways to save money on interest, loans and credit cards. Alec D., Ellington, CT Email us at [email protected], call 800-842-1778 or visit any of our branches for your FREE personalized credit review. In the Community!

As part of Dutch Point Credit Union’s commitment to assist the local areas we serve, we participate in community initiatives throughout Connecticut provid- ing financial guidance and supporting local efforts.

Dutch Point Credit Union supports Operation Fuel. Dutch Point team members dressed down in support of Connecticut’s Operation Fuel program. Thanks to the generous donations of our members and staff, were able to raise $1,000 for this worthy cause!

Dutch Point participates in Credit Unions Kids at Heart Chal- lenge. Dutch Point’s commitment to community support and charitable causes sent us to the streets to help raise money for EasCorp Credit Unions Kids at Heart All-Ability Challenge. We partner with EasCorp to provide financial services for the benefit of our members. Dutch Point created Streets to Eats, a campaign to raise and also to support a local restaurant. The credit union Management Team walked to Old Wethersfield to enjoy lunch and support The Charles, a local restaurant. The Dutch Point team raised a total of $3,390!

Dutch Point helps the homeless. Our team once again showed their commitment to helping those less fortunate by helping the homeless community in Hartford. Hartford Police Officer Jim Barrett has made it his mission to help the city’s homeless during his career. Through staff dona- tions, the credit union raised $1,000 and purchased $800 of bus passes and $200 in Dunkin Donuts gift cards to be donated to Officer Barrett’s efforts to help Hartford’s homeless community.

Upcoming Community Event - First Time Home Buyer Seminar What you will learn from our seminar: Save the Date • Understanding the pre-approval process Date: Wednesday, September 15, 2021 • Know your costs: Closing costs and pre-paid items Time: 5:30 pm - 6:30 pm • Downpayment and mortgage insurance • Contract and legal considerations Place: Virtual Seminar IMPORTANT INFORMATION Access to Surcharge-free ATMs is Changing 2021 DJS Scholarship Winners

Effective October 24, 2021, Dutch Point Visa Debit Emily DeRoehn - Old Lyme High School cards will no longer have surcharge-free access to the Attending: Johnson and Wales University SUM and NYCE ATM networks. Alexandra Costa - Tolland High School You can still use your DPCU Visa/Debit card surcharge-free Attending: Northeastern University at the following ATMs: Dutch Point ATMs, Allpoint and MoneyPass. To find a surcharge-free Allpoint ATM location Alyson Cabral - Robert E. Fitch High School visit our website at dutchpoint.org. Attending: University of Connecticut or University of Massachusetts Your DPCU Debit card gives you access to over 55,000 surcharge-free Amya Johnson - Windsor High School ATMs worldwide through the Allpoint Attending: North Carolina Agricultural & Technical Network and more than 37,000 State University surcharge-free ATMs nationwide through the MoneyPass Network. Catherine Costa - Tolland High School Attending: Northeastern University Just look for the Allpoint and MoneyPass logos for surcharge-free ATMs. Annual Meeting Highlights The following change pertaining to Visa Debit Cards is being Members attended the credit union’s 60th made to the Electronic Fund Transfers Agreement and Annual Meeting held as a Virtual Meeting on Disclosure: April 27, 2021. You may use your card and personal identification number (PIN) in ATMs of the Credit Union, Allpoint, MoneyPass, Richard Zajack, Chairman of the Board, presented Cirrus, Accel networks, and such other machines or facilities highlights from 2020 to the membership. as the Credit Union may designate. In addition, you may use your Visa card without a PIN for certain transactions Marguerite Rose, Nominating Committee Chair, on the Visa, Cirrus, Accel networks. However, provisions of presented the candidates for the Board of Directors. this Agreement relating only to Visa debit transactions, such The three 3-year vacancies were filled by: as additional limits on your liability and streamlined error resolution procedures, do not apply to transactions processed Michael E. Curtin through non-Visa networks. To initiate a Visa debit transac- tion, you may sign a receipt, provide a card number, or swipe Steven W. Miller or insert your card at a point-of-sale (POS) terminal and Richard S. Zajack choose to route the transaction over a Visa network. Thank you for making our meeting a success!

Credit Union Branches and Contact Information Holiday Closings Call Center: 860-563-2617 / 800-842-1778 Website: dutchpoint.org Monday, July 5th - Independence Day Email: [email protected] Monday, September 6th - Labor Day Wethersfield: 195 Silas Deane Highway Monday, October 11th - Columbus Day Newington: 465 Willard Avenue Niantic: 241 Main Street West Hartford: 50 South Main Street (Town Hall) For a complete list of 2021 Holiday closings Bloomfield: 1 Wintonbury Mall visit our website. Berlin: 107 Selden Street Middletown: 213 Court Street, Suite 101 Lost/Stolen Cards: DPCU Visa Card - 800-449-7728 -- Debit Card - 866-559-4804 NMLS# 466823