J A N U A R Y • 2 0 1 4

On behalf of the Board of Directors, I want to wish you a very Happy New Year! It’s a great time to reflect on our achievements over the past year, with the antici-pation of a more successful

future in the coming one. With that in mind, I can assuredly say that the road ahead for MCU is bright and prosperous thanks to you, our valued members.

For 97 years, MCU has continued to put its members first, strongly adhering to the credit union philosophy of ‘people helping people’. Choosing to invest in our members and working to help them reach their financial goals have been our best endeavors. Consequently, MCU has finished year 2013 in a strong financial position as we have done year after year. When our members continue to thrive in their careers as well as in their respective communities, we work harder to ensure their finances remain strong and secure. We also provide members with affordable financial products and a commitment to the best service possible.

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As the New Year is upon us, now is the perfect time to reflect on all that has happened in 2013. Despite another year of many challenges and changes in our national

economic landscape, I can proudly report that MCU ended 2013 in a fine capital position, and is primed for continued success in 2014.

The past year brought on a continued transition to what will likely be the “new normal” for both the national and global economies. As we adjust to these changes every day, MCU remains dedicated to offering competitive products and quality ser-vice to our 350,000 members that will help them achieve their financial goals. With a plan in place to keep Municipal Credit Union well positioned for the future, let’s take a look back at what MCU has accomplished in order to help improve the banking practices of our members in 2014.

Municipal Credit Union worked hard throughout 2013 to make banking with us easier and more

Kam Wong President/CEO

Mark S. Brantley, Esq. Chairman of the Board

New Year’s Greetings from the President/CEO

Happy New Year from the MCU Chairman

convenient than ever. We added improvements and amenities to our mobile and online banking features that allow members to complete transac-tions quickly and easily, making banking with MCU accessible 24 hours a day, 7 days a week, and without the need to enter an MCU branch. We also expanded our ATM Network to over 200 proprietary ATMs, providing members with more convenient access to their hard-earned money.

In the spirit of the credit union philosophy of ‘people helping people’, MCU cannot simply measure our success this year by our financial strength or newly improved services, but also through how we have given back to the communities we serve. I am proud to announce that our corporate goodwill has been outstanding this year as MCU has participated in many philanthropic efforts to serve the New York area. These initiatives included raising more than $25,000 for the American Cancer Society, donating 1,100 turkeys to in-need communities during the holiday season, and offering scholarships to many of our area’s most deserving high school seniors.

The dedicated leadership of our Board of Directors and hard work of our management team and staff has been paramount to the achievements of our most important goal: serving you, our members. I look forward to our continued growth and progress in 2014 and beyond. I speak for the entire MCU team when I say that we truly appreciate you being part of our MCU family, and I wish you and your family a happy and healthy New Year.

Rest assured, our members’ needs will always hold top priority at MCU, not just in this New Year, but in future years to come.

Economic uncertainty has become global and has the tendency to seem right around the cor-ner. However, MCU is confident that our product offerings and services, combined with prudent risk-management ensure members of a financial institution that they can trust. With low-rate auto loans, credit cards without excessive annual fees or fine print, and a variety of competitive savings products to fit every need, MCU is the best option for members to meet and exceed their short-term and long-term financial goals.

Finally, I would like to inform our members that regardless of the economic challenges that we may face as an institution, MCU will never waver from its primary focus as a credit union. We are and will always be, not for profit, not for charity, but for service! We have made great strides in the past year and we are blessed and honored to have the opportunity to grow even stronger in the days, months, and years ahead. So, once again on behalf of the Board of Directors, I wish you and your loved ones a happy, healthy, and prosperous New Year.

Yours in service,

Mark S. Brantley, Esq.

Chairman of the Board

Kam Wong

President/CEO

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IN YOUR COMMUNITY

MCU has begun accepting applications for its 2014 scholarships. This year, MCU will award $66,000 in scholarship grants. Eight memorial scholarship grants of $5,000 each will be awarded: The Charles Faulding, Julian I. Garfield, Louise DeBow, Willie James, Mayor John Mitchell, Anna Mae Massy, Malachy T. Higgins, and James McKeon Memorial Scholarships. In addition, thirteen grants of $2,000 each will also be awarded. The scholarships are offered to college-bound graduating high school seniors.

Eligibility for the MCU scholarships is open to an MCU member, a child or a grandchild of a member in good standing. Selection criteria is based on academic performance, extracurricular and community activities, references, and an essay expressing personal goals. Students applying for the scholarships who are also MCU members will also automatically be entered for a $500 statewide Public Relations and Marketing Council Scholarship. This year’s deadline for scholarship submission is end of business day on Friday, January 31st, 2014.

For more information or to apply, visit your local MCU Branch or log on to nymcu.org today!

MCU Announces 2014 Scholarship Program

MCU members will elect Board of Director and Supervisory Committee members at the Annual Meeting this spring.

The twelve-person Board of Directors oversees the

general management of the affairs, funds, and records of MCU.

Typically, four directors are elected annually to serve three-year terms.

The five-person Supervisory Committee oversees the audit functions of the Credit Union, and ensures, among other things, financial reporting accuracy. Usually, one or two members, as may be required, are elected annually to serve a three-year term.

If you are a member with time to volunteer,* and would like to be considered for a nomination to either of these two bodies, now is the time to let us know.

How to Apply? Members who would like to be considered for nomination to either of these two bodies are encouraged to apply. Simply submit your resume and a cover letter to the MCU Nominating Committee. Your submission should be addressed as follows:

MCU Nominating Committee P.O. Box 3205 CSS New York, NY 10008-3205

Mailings must be postmarked no later than Thursday, January 30th, 2014 to be considered by the Nominating Committee. As an alternative, a member may become a candidate by obtaining the required number of signatures on a nominating petition.

For more information on the requirements or procedures for candidacy, please contact Richard Casamassa, SVP Member Service Operations, at 212-238-3372.

MCU Elections To Be Held This Spring

* MCU Board of Directors and Supervisory Committee positions are voluntary and are not compensated.

MCU

PERSONAL LOAN RATES

IN YOUR COMMUNITY

In the spirit of the holiday season, Municipal Credit Union ensured that many needy families in our area would have a happy and plentiful holiday dinner. In November, MCU donated 1,100 turkeys to underprivileged neighborhoods throughout New York City.

On Saturday, November 16, MCU teamed up with St. John’s University to donate 100 Turkeys to the River Fund, a Richmond Hill-based organization dedicated to serving the needy throughout the five boroughs. The Katie Couric Show featured these efforts on November 22nd, as part of the show’s “Challenge for Change” campaign, which rallies communities to help those in need and change lives for the better.

Additionally, MCU partnered up with the NYPD Community Affairs Division to distribute 1,000 turkeys through the New York City area. MCU and more than 30 NYPD precincts worked together to host special events throughout the city this past week to hand out the turkeys and offer their support to in-need members of the communities.

“Giving back to the communities that we serve has always been a top priority at MCU,” said MCU Vice President of Business Development and Member Relations Corey Fernandes. “We take pride in being able to donate turkeys every year for the Thanksgiving season, and the positive impact we are able to make in the underprivileged communities of New York City continues to be extremely gratifying.”

MCU Donates 1,100 Turkeys for 2013 Thanksgiving Holiday

I361

Unsecured Loan $1,000–$15,000 Up to 60 Months 7.90% $20.25

Unsecured Loan $15,001–$50,000 Up to 60 Months 8.90% $20.73

Unsecured Loan $15,001–$50,000 72-84 Months 9.50% $20.90

AUTO LOAN RATES

2014–2013 125% Up to 60 Months 1.95% $17.512014–2013 125% 61-66 Months 2.15% $16.082014–2013 125% 67-72 Months 2.25% $14.87

2012 125% Up to 60 Months 2.15% $16.08 2012 125% 61-66 Months 2.45% $16.22 2012 125% 67-72 Months 2.45% $14.95

Municipal Credit Union Supervisory Committee/Internal Audit DepartmentPost Office Box 3418, New York, NY 10277-1863 Attn: Giovanni Porcelli, ChairmanPhone: 212-238-3573 Email: gporcelli@nymcu.org

The Supervisory Committee has established a procedure; whereby, members can confidentially submit concerns regarding questionable accounting or auditing matters, as well as concerns impacting on internal con-trols. Correspondence should be sent to:

NOTICE FROM THE SUPERVISORY COMMITTEE

Board of Directors Mark S. Brantley, Esq., ChairHon. Sylvia G. Ash, 1st Vice ChairC. Richard Wagner, 2nd Vice Chair Caroll Duncanson, 3rd Vice ChairS. Nana Osei-Bonsu, Treasurer Shirley Jenkins, SecretaryJames Durrah, Asst. TreasurerJoy S. Schwartz, Asst. SecretaryTessa I. Hackett-Vieira, Director Loretta Y. Jones, Director Beryl Major, DirectorMario Matos Jr., DirectorThomas E. Diana, Director Emeritus

Supervisory Committee Giovanni Porcelli, Chairman Karen Lucas, Secretary Almeta Coaxum, Member Joseph Guagliardo, Member Cheryl Wright, Member

Executive Management Kam Wong, President/CEO Thomas Siciliano, General Counsel Ana Puello, EVP/Chief Financial Officer Richard Casamassa, SVP/Member Service Operations Norman Kohn, SVP/Chief Credit Officer Carole A. Porter, SVP/Chief Retail Banking Operations Officer

Senior Management Anie Akpe -Lewis, VP/Real Property William Birnbach, VP/Member Service Operations Ahmed Campbell, VP/Loan Operations Corey Fernandes, VP/Business Development/Member Relations Urmilla Jorawar, Chief Internal Auditor Steven Kibitel, VP/Marketing Amy Kong, VP/Risk Management Linda Lambert, VP/Finance John Parrinello, VP/Collections/ Loss Prevention Agnes Payadue, VP/Retail Banking Operations Janet Perkins, VP/Technology Michael Rosano, VP/Security & Fraud Kim Thompson, VP/Human Resources

PHONE NUMBERS: MCU’s Automated Service – Touch Tone Teller:Within the Five Boroughs/Long Island (212) 693-4900

Outside the Five Boroughs/Long Island (800) 323-6713

Application Express: (800) LOAN-MCU

LOAN BY FAX: (212) 238-2699

MCU AUTONET: 888-4MCU-AUTO

VISA Information: (800) 481-7338

Mortgage and Home Equity Information: (212) 238-3521

Deposit Account Information: (212)-693-4900

New Member Line: (866) JOIN-MCU

VISIT OUR WEBSITE: www.nymcu.org

Rates may be higher based on applicant’s credit worthiness. Rates and terms are subject to change without notice. Certain restrictions may apply.

MCU only finances vehicles purchased from a car dealer: We do not offer financing for private sales, individual sales or lease buyouts.

* Auto-Pay: When direct deposit or automatic payroll deduction is utilized as the method of loan repayment. Annual percentage rates for auto loans will increase by 1/2 % after consummation if automatic payroll deduction or direct deposit is cancelled. Annual percentage rates on unsecured loans will increase by 2% after consummation if automatic payroll deduction or direct deposit is cancelled. Late payment fee: $25.00.

APR = Annual Percentage Rate.Municipal Credit Union is an equal housing lender.

NCUA Your savings federally insured to at least $250,000

and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.

For complete information concerning our savings programs, contact the credit union for a “Truth-in-Savings” disclosure.

PERSONAL LOAN RATES Auto-Pay Monthly Payment PerLoan Type Amount Financed Term APR* $1,000 Borrowed

Maximum Auto-Pay Monthly Payment PerLoan Type Amount Financed Term APR* $1,000 Borrowed

New Cars

Pre-Owned Cars