Dynamic Information to help you ride the Wave to financial security

July 2012

Wave’s Student Zone Account is a package of services specifically designed for today’s busy student. It combines a free checking account with a Wave ATM/Debit MasterCard*, surcharge-free ATM network access, free online banking, a no annual fee 12%APR Visa credit card** and more. Plus, parents can transfer from their Wave Account to their student’s account as needed. Not only is this an ideal account, but it’s also a good way to teach responsible money management.

Win a $500 scholarship Through August 31, anyone who opens a Wave Student Zone Account will be entered to win a $500 scholarship and will

also receive a free gift. To open an account, or for complete information,

log onto wavefcu.org or visit any convenient Wave Office.

* Daily withdrawal limit may vary.** $1,000 limit. Requires qualified co-borrower.

Mortgage Department UpdateWe are pleased to announce the further expansion of our mortgage department. To better service our members, joining our Director of Mortgage Lending, Pier-Mari Toledo (Center Bottom), we have added some new positions. Melissa L. Crandall (R) has joined mortgage lending as a Mortgage Processor. Melissa is a familiar face as she was formerly the Teller Supervisor at Greenwich Avenue. Melissa will be responsible for assisting members through the mortgage lending process. We have also added Mari Rodriguez (L) to the team as a Mortgage Consultant. Mari has over 12 years mortgage lending experience and will be servicing our members and the realtor community with mortgage financing in the South County area out of our Westerly Office. Another Mortgage Consultant will be added shortly to service our members and area realtors in East Greenwich and the surrounding areas. With the addition of our new staff and the continued introduction of new mortgage products and services, obtaining your home loan from Wave will be smooth sailing.

Send them back to school with a Student Zone Account, a free gift and a chance for a $500 scholarship.

Member Service # (401) 781-1020 • info@wavefcu.org • www.wavefcu.org.

Up and Away with Wave Zone BankingOur new Wave Zone Banking program introduced last quarter has met with considerable success already. Letters were sent out recently to qualifying members notifying them that they were automatically enrolled. If you received such a letter you are all set. Your next statement will display your Wave Zone account. All other accounts (loans, debit card, etc.) will be unchanged. And if you haven’t already qualified, you’d be surprised at how simply switching a few accounts from other institutions to Wave, you too could take advantage of the many benefits Wave Zone Banking has to offer including bonus CD interest and loan rate discounts. Just visit our website or any office for complete details about this “rewarding” program!

President’s MessageI’m happy to report

that new members

are continuing

to discover the

benefits of Wave.

The attraction of

low fees compared

with the ever-

increasing charges

levied by the banks is one reason. Then, too,

there are our products, rates and the friendliness

from employees and recommendations from

existing long-term Wave members.

Speaking of relationships, Wave Zone Banking

is off to a good start. A new program, Wave

Student Zone Banking has been added

especially for the needs of students and is

covered in this newsletter

Credit union loan protection insurance is an

extremely valuable benefit in making sure that

you don’t have to worry about loan repayment

should something happen to you.

In this newsletter you’ll also be able to compare

the difference between the much touted

auto dealer incentives of no finance charge vs.

financing and taking the dealer allowance. As

you’ll note, often financing works out better. So

do the math! And remember, Wave auto loans

are available at rates as low as 2.49%.

Finally, please be wary of payday or fast cash

lenders. They may offer a quick fix if you are in a

bind but the amount of money you pay back is

exorbitant and will probably make your financial

situation much worse. If you are having financial

difficulty, please consult a Member Service

Representative at any of our locations and we

may be able to present a much more reasonable

and affordable solution to your circumstances.

Sincerely,

Paul Archambault President & CEO

Congratulations Again Pier!Pier-Mari Toledo, our Director of Mortgage Lending, was recently voted FIVE STAR Mortgage Professional(SM) for the second year in a row by Rhode Island Monthly Magazine. This award recognizes a select group, less than 4% of mortgage professionals, based on a survey of over 21,500 Rhode Island homeowners and 5,000 subscribers to Rhode Island Monthly. To win this prestigious award two years running is indeed a great achievement and we’re very proud of Pier and of the mortgage department she leads.

Meet Cheryl!As our new Accounting Manager, Cheryl L. Silva brings to the position over 20 years experience in banking and governmental affairs, most recently as Finance Director for the Town of Warren, RI. Prior to that she spent time at Met Life and Navigant Credit Union as an internal auditor and in investment banking for a number of years with State Street Bank.

We’re delighted to welcome Cheryl to the team!

Payment Protection…and What it Means to You!Without loans, most of us would never have a home to call our own or a car, much less the two cars most families rely on these days. But borrowing is a responsibility too, just like taking care of your family. That’s where payment protection for your Wave loans comes in. It’s a way of preparing for the unexpected.

When you borrow, MEMBERS CHOICE® Credit Disability, Joint Credit Disability or Payment Protection underwritten by CMFG Company can pay off the loan up to the policy maximum, and your family may not have to make payments from savings or salary. It can help protect your credit rating, maintain your family’s standard of living and is there 24/7. Today, with people having more loans and stretching payments out over longer periods, MEMBER’S CHOICE Payment Protection may be even more important.

Check with a Wave Member Service Representative for more details, including benefits, exclusions and limitations, convenience and ease of enrollment. Payment Protection…it can mean a lot to you.

At your Service!We’re happy to introduce these new employees to Wave’s teller line.

Auto Buying 101You have a choice of taking a rebate (in our example $3,000) or 0% financing).

Before you sign on the dotted line, do the math. Plus, with 0% financing, you could also lose most of the value of the rebate if you choose to change vehicles early.

Cost of Vehicle $25,000 $15,000

Dealer’s Offer 0% financing 0% financing or $3,000 cash or $3,000 cash rebate rebate

Payments at 0% $520.83 for $250 for 48 months 60 months

Payments at Wave $482.24 for $213.02 for Rate of 2.49% 47 months. Final 59 months. Final payment of $471.35 payment of $206.85

Total saved opting $1,863.21 $2,224.97 For rebate

Member Service # (401) 781-1020 • info@wavefcu.org • www.wavefcu.org.

L-R Fortuna (Dodi) Falvo (Warwick Ave.), Joan M. Evans (Greenwich Ave.), Manuel H. Dutra (Pawtucket), Shannon T. Weber (Greenwich Ave.)

Congratulations Wave FCU 2012 Scholarship Winners This year Wave awarded scholarships in two categories…our regular scholarship category and a business scholarship category. The business scholarship program recognized two Toll Gate (Warwick, RI) seniors, Kayla Lopes and Colin Stamps, pursuing business degrees and who participated as part of Wave’s yearlong CU4 Reality Financial Literacy Program and Fair.The regular scholarship program selection process considered financial need, grades, a personal essay plus extracurricular/community activities.The business scholarships were awarded at a special event held at Toll Gate High School while the regular scholarships were presented at a ceremony held at Wave’s headquarters on June 8.To our winners congratulations!!! Best of luck and success in the coming year.

A Good Time Was Had by AllRecently Wave played host to the Central Rhode Island Chamber of Commerce at its Business After Hours event held at our headquarters. Close to 100 Chamber members and invited guests enjoyed good conversation, tasty treats and the chance to learn more about Wave, its services and its community commitment.

Shredding Day On a sunny Saturday in May, many members took advantage of the opportunity to bring their unwanted personal information to be securely shredded free of charge. Wave volunteers were on hand to help carry the documents.

Back to School Drive During July and August, Wave will be sponsoring a back to school drive at all its offices. The drive will collect school supplies, new clothing and financial support to help send kids from the RI Family Shelter back to school “equipped”.

Tables will be set up at each Wave Office where supplies and/or clothing can be dropped off during regular Credit Union hours. In addition there will be collection boxes to encourage financial contributions.

C O M M U N I T Y C U R R E N T SUp -to - date information ab out Wave in the neighb orho o d

Member Service # (401) 781-1020 • info@wavefcu.org • www.wavefcu.org.

(Front row, left to right) Paul Archambault, Personal Finance Teacher William Aquilante, Kayla Lopes, Branch Manager Gail Tattersall. (Back row, left to right) Colin Stamps, Personal Finance Teacher Laurie Mockler, Department Chair Kenneth Castellone, Toll Gate Principal Stephen Chrabaszcz and Branch Manager Carol A. Felingiere.

Shown from left to right: Matthew Hermenau, Paul Archambault, Brooke Amerantes and Jacob Dinerman. Other winners were Matthew Morris and Mariely Jimenez.

Above and BeyondRecently our Pawtucket Branch Manager, Carol A. Felingiere, met with a gentleman and helped him secure a $500 pledge loan with which to reestablish his credit. This gentleman was severely disabled with a very limited social security disability income. He asked Carol if she knew of any agencies that could help him with a wheel chair. His chair was broken and very difficult to use. Carol began searching and spoke with one of our loan officers, Lynne E. Greene, whose husband is a Mason. Lynn’s husband was able to help and, thanks to the Masons, our gentleman is now getting about in his new wheel chair. He is thrilled and we’re happy to relate another story of Wave employees who regularly go “above and beyond.”

70+ years of financial stability

Office Hours and LocationsMain OfficeDrive up open 8:00 AM Monday-Friday480 Greenwich Ave., Warwick 02886

401-781-1020 / 888-492-8328

401-562-1290 (Fax)

Monday - Wednesday.. . . . . . . . . . . . . . 9:00 AM- 4:00 PM

Thursday & Friday .. . . . . . . . . . . . . . . . . . . . 9:00 AM-5:00 PM

Saturday.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9:00 AM-12:00 PM Lobby and Drive-up

Branch OfficesWarwickDrive up open 8:00 AM Monday-Friday1217 Warwick Ave., 02888

401-463-9574 / 401- 463-5161 (Fax)

Monday - Wednesday.. . . . . . . . . . . . . . 9:00 AM- 4:00 PM

Thursday & Friday .. . . . . . . . . . . . . . . . . . . . 9:00 AM-5:00 PM

Saturday.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9:00 AM-12:00 PM Lobby and Drive-up

35 Veterans Memorial Drive, 02886401- 681-1080 / 401-681-1085 (Fax)

Monday - Wednesday.. . . . . . . . . . . . . . 9:00 AM- 4:00 PM

Thursday & Friday .. . . . . . . . . . . . . . . . . . . . 9:00 AM-5:00 PM

Pawtucket341 Benefit St, Pawtucket 02861

401-726-5752 / 401-726-6301 (Fax)

Monday - Wednesday.. . . . . . . . . . . . . . 9:00 AM- 4:00 PM

Thursday & Friday .. . . . . . . . . . . . . . . . . . . . 9:00 AM-5:00 PM

Westerly (Cottrell Branch)87A Main Street, Westerly 02891

401-596-3442 / 401-596-3471 (Fax)

Monday-Wednesday.. . . . . . . . . . . . . . . 9:00 AM- 4:00 PM

Thursday & Friday .. . . . . . . . . . . . . . . . . . . . 9:00 AM-5:00 PM

HOLIDAY CLOSINGSAll Locations Closed all day

Monday, August 13th   Victory Day

Monday, September 3rd  Labor Day

Warwick, RI 480 Greenwich Avenue, 02886 • 35 Veterans Memorial Dr., 02886 • 1217 Warwick Ave., 02888

Pawtucket, RI 341 Benefit Street, 02861 • Westerly, RI (Cottrell Office) 87A Main Street, 02891

Ride the Wave to financial security. wavefcu.org

Privacy Disclosure Categories of information we may collect We collect non public personal information about you from the following sources:

• Information we receive from you on applications or other forms, such as your name, address, social security number, assets and income.

• Information about your transactions with our affiliates, others, or us; such as your account balance, payment history, parties to transactions and credit card usage.

• Information we receive from a consumer-reporting agency, such as your credit worthiness and credit history.

Categories of information we disclose• We may, by law, disclose all of the information we collect, as described above to

service providers and companies that perform services on our behalf such as our data processor and ATM processor.

• We do not disclose any nonpublic personal information about our members or former members to anyone, except as required by law (such as response to a subpoena) and to prevent fraud or to comply with a government or regulator inquiry.

Our commitment to youWe are committed to your financial well being and protecting the privacy and security of information you share with us is part of that commitment. We restrict access to non public personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with federal standards to guard your non public personal information.We do not sell member lists or individual member information. Sometimes we select other companies to provide products and services that we don’t--products such as life insurance. We make available only the information needed to offer and administer these products. These companies are not permitted to use this information or to contact our member for any other reason than providing the specific products or services intended. If you decide to terminate your member-ship or become an inactive member, we will adhere to the privacy policies and practices as described in this notice. Keep Wave FCU informed of changes to your address or phone numbers. In the event of potentially fraudulent or unauthorized activity, we will attempt to contact you immediately. If you ever have questions or concerns about the integrity of your account information, please contact us.Keep this disclosure for your records. You may request additional copies at any time.

Update your IRA Beneficiary FormsIt’s important to keep your IRA beneficiary forms up to date. If you need to make changes, please contact us at (401) 781-1020 to update your forms.