A MasterCard Debit Card

opens a new network

Put the new tax laws to work for you

There’s Still time to reduce what you owe to Uncle Sam

The new tax plan signed into effect last year will affect your federal income taxes until the year 2010.  The first change, those $300 and $600 checks from last year, signaled the beginning in the reduction of tax rates.  In the 2002 tax year, most people will see their rate drop a percentage point more.  In addition, a regular adjustment for inflation, considerably low as of late, will move the upper limit of each bracket slightly higher.

An increase in the contribution limit for qualified retirement plans will allow taxpayers to put more money—up to $3,000—into a qualified retirement account, such as a traditional IRA.  If you are over 50, the contribution is even higher, with the “catch-up” provision designed for older workers--$3,500.  IRA contributions made before April 15, 2003, qualify for the 2002 tax year. 

Albertsons Employees' Federal Credit Union has the tools to help you make the most of your tax savings.  Visit your local branch or contact a Credit Union representative to put your tax plan into play.

More convenience, wider acceptance and better access to your accounts

To create more convenience for our members, Albertsons Employees' Federal Credit Union is replacing the ATM/POS/Draft Guarantee Card.  Now, the MasterCard network is at your disposal with our new ATM/POS/Debit card.  Use your new debit card anywhere MasterCard is accepted.

As the ultimate in convenience, the ATM/POS/Debit card will allow you to access your accounts at any ATM with the StarÒ, PlusÒ or COOPÒ symbols.  All you need to obtain a card is a Share Draft/Checking account at

Albertsons Employees' Federal Credit Union.  With the new card, you can access your primary savings (Share 1), Share Draft/Checking (Share 4) or Overdraft Protection Line-of-Credit (Loan 9) accounts.

In addition, the Point of Sale purchase option works at any Star, Plus or MasterCard network cashier, where you may enter a PIN, or if that option is unavailable, you may sign for your transaction.  Albertsons Employees' Federal Credit Union charges no transaction fees for using the card.

If you have an ATM/POS/Draft Guarantee Card, your new ATM/POS/Debit card will be sent to you auto-matically based upon the expiration date of your old card.  If you currently don’t have a card but would like to participate in the program, please contact your branch office or complete a Universal Application, available at your store.

Personal Savings are the key to a financially sound retirement

BRANCHES

P.O. Box 8145

Boise, ID 83707

(208) 385-5200

Fax: (208) 385-5290

3305 Lake Breeze

Orlando, FL 32808

(407) 292-2006

Fax:: (407) 292-2520

1327 Brown Trail

Bedford, TX  76022

(817) 285-8292

Metro Line: (817) 268-6710

Fax: (817) 285-7053

341 E. Imperial Highway

Fullerton, CA 92835

(714) 738-4681

(714) 870-6408

BOARD OF DIRECTORS

Bob Baker, Chairman

Bill Carter, Vice Chairman

Mike Shalz, Treasurer

Lary Matthews, Secretary

Cynthia Forsch, Member

Doug Gibson, Member

Gary Morton, Member

Pradip Mehta, Member

Kevan Fenderson, Member

MANAGEMENT STAFF

Phyllis Thomason, President and Chief Executive Officer

Michael S. Vickery, Senior Vice President and Chief Operating Officer

Theresa Koenen, Loan Manager

Ann Cargile, Loan Servicing Supervisor

Chris Demaray, Manager, Member Services and Human Resources

Bonnie Kuhl, Card Services Supervisor

Stacey Devereaux, Manager, Accounting and Electronic Services

Leo Francis, Manager, Branch Operations and Regulatory Compliance

Clem Godin, Orlando Branch Manager

Tanya Brumfield, Dallas/Fort Worth Branch Manager

Laura Sotelo, Los Angeles Branch Manager

FINANCIAL HIGHLIGHTS

(as of October 2002)

Members. . . . . . .. . . . . . . . . 45,706

Shares. . . . . . . . . . . . .$142,314,333

Loans. . . . . . . . . . . . . . $73,590,435

Total Assets . . . . . . .$169,376,191

Most adults approaching retirement expect most of their income to come from Social Security and pensions.  Unfortunately those funds may not match up with your expectations for some quality retirement years.  How can you fill in the gap?  Personal savings.

Whether you’re 25 or 50, with retirement around the corner or 40 years away, what you do with your money now will make a difference in your retirement.  Financial planners agree that personal savings are the bulk of any successful retirement, and the younger you begin saving, the better your retirement will be.

401(k)

The first area to address is, of course, a company-sponsored retirement plan, like a 401(k).  Begin enriching your golden years by contributing the maximum allowed by law to a 401(k) – 15% of your pre-tax income.  If that takes too large a chunk from your disposable income, start at five or eight percent, then increase your contribution three to four percent each year until you reach 15 percent.

IRA

At the second tier of retirement planning is the Individual Retirement Account.  An IRA or a Roth IRA creates substantial savings to depend on when you retire.  For example, if you invest $20 per week for 45 years or more, your IRA could top $150,000*.  If you can contribute $3,000 per year, you would have close to half a million dollars* after that amount of time.

However, if you’re closer to retirement, it’s not too late for an IRA to make a difference.  If you’re 50, with 15 years until you retire, your increased maximum contribution of $3,500 annually can create a nest egg in the neighborhood of $60,000*.

Savings

After you’ve funded an IRA, it’s time to turn to regular savings vehicles – Money Market accounts and Regular Share Accounts – to supplement your retirement income.  These additional accounts can ensure that you have the retirement you always dreamed you would have.

Social Security was designed to keep the elderly from starving outright and cannot be counted upon to take care of a person’s basic needs in retirement.  Create the supplement that will make your retirement financially sound with a personal savings plan combining your company 401(k), an IRA and personal savings accounts.  The money you save now will make a huge difference later.

*Examples assume a traditional IRA after taxes, with a six percent return on investment, for a taxpayer in the 28 percent income tax bracket.