Rome Credit Union: What's New

Board Of Directors	Credit Committee
Paul Boulan - Chairman	Richard O'Malley
Richard Barrows - Vice-Chairman	Charles Counts
Mary Branch - Secretary	Open - Alternate
Andris Revalds - Treasurer
Gail McPherson - Director
Richard Beltz - Director
Janet Alston - Director

IRA IMPROVEMENTS:

With the new changes to the tax bill, IRAs have changed substantially to help Americans save more for the future. Here are some of the changes that will affect IRAs in the years to come:

     1) The maximum annual limit that an individual can contribute
     to a NEW Traditional and Roth will be increased. The limit will
     be raised in increments over the years to $3,000.00 for 2002
     through 2004, $4,000.00 for 2005 through 2007 and $5,000.00 for
     2008

     2) If you are a low or middle-income wage earner, you may be
     eligible for a tax credit** for contributions to an IRA. The
     amount you receive depends on your adjusted gross income.

     3) Employees have always had the ability to take their
     retirement plan assets with them. They could roll over taxable
     distributions from Section 401 and 403(b) plans, but starting
     2002 you may also be able to rollover non-taxable, voluntary
     contributions plans to an IRA.

     4) If you are over 50, you can now contribute an additional
     $500.00 to an IRA for the 2002 through 2005 tax years and an
     additional $1,000.00 for 2006 through 2010.

With little planning, you can finally enjoy your golden years more with an IRA from ROME Credit Union. For more information contact a Member Service Representative at the Credit Union today.

LOAN IMPROVEMENTS:

During one of our last board meetings we at ROME made the executive decision to raise the maximum amount of funds for one person to borrow from $40,000.00 to $60,000.00 of which $10,000.00 may still be unsecured. In addition, the limit for the overdraft protection loan for your checking has been raised from $300.00 to $1,000.00.

Address Changes
If you will be moving in the near future please let us know as far in advance as possible. We will need to know your complete new address, including phone numbers. Be sure to tell us all account numbers affected; ie. trust accounts for children and accounts you may be comaker on. You can call us at 248-548-2300 to make us aware of the changes or send us a letter.