0% Financing What's The Catch?	Are You Covered?	New Quarterly Publication Schedule
End of Year Message From The President	What's The Best Time To Manage Your Finances?	Finding A Car Can Drive You Crazy.
And The Winner Is...	Find Any Money Lately?

0% Financing What's The Catch?

You've seen and heard the advertisements: 0% financing on that new car you've been dreaming about. Should you rush down to your dealer? Maybe yes - but not before you read this issue of BREAKING NEWS. With sales lagging due to a sluggish economy and uncertain business conditions, not to mention a downturn in employment statistics, auto makers are pulling out all the stops to stimulate new car sales. Last fall, General Motors led the way with its "Keep America Rolling" interest-free financing campaign. The other car companies followed. And this fall, 0% financing offers were everywhere. For a few car buyers, 0% financing may really be a good deal - but every case is different. Here are some important things to think about when you find yourself attracted to what sounds like free money from your automotive dealer. How is your credit rating? Most 0% financing deals are offered only to "well-qualified" buyers - which can mean that, unless your credit is unblemished, you may not have this option. How high a monthly payment can you afford? Many 0% financing offers are for short-term auto loans with high monthly payments. Monthly payments on a 36-month loan can be significantly higher than those on a long-term car loan - and might not fit into your budget. Do you plan to trade in your old car? Most 0% financing deals will not apply to deals involving a trade-in vehicle with negative equity. Are you counting on a rebate? Usually 0% financing offers preclude you from taking advantage of rebates and other special offers you may have heard about. Will you be paying sticker price? Sometimes auto dealers only offer 0% financing on vehicles for which you'll pay top dollar. What about color and other options? A 0% financing deal might apply only to the vehicles your dealer has in stock - which can keep you from getting that metallic color, deluxe sound system, special upholstery, performance package or other items on your wish-list. Have you considered hidden costs? Your dealer's 0% financing offer might involve loan application fees, prepayment penalties or other hidden extras that can drive up your bottom- line cost of ownership. Once you start asking these questions, there's one more thing you should do: call your Credit Union. We've done the research. We can explain new car financing costs based on an apples-to-apples comparison between our rates and those of your car dealer. In fact, we encourage you to comparison shop before you purchase your next vehicle. Although you may see an offering with a lower APR, the benefits of financing through your Credit Union may actually outweigh the appeal of 0% financing. But one thing is certain. Whether you finance through your Credit Union or the auto manufacturer of your choice, now is a great time to buy a new car.

Are You Covered?

Everyone's insurance needs are different. Your goal should be peace of mind: the confidence of knowing that your own individual profile is fully covered. That's where your Credit Union comes in. Members Insurance Services, LLC, an independent insurance agency owned by your Credit Union, offers*: Auto, Homeowner's, Boat and other insurance products and services High quality, professional assistance Timely, accurate quotes For more information, call toll-free (877) 981-8448, or visit www.membersinsuranceservices.com.

New Quarterly Publication Schedule

We listened to your feedback! Starting with the next issue, Breaking News will become a quarterly publication. You can look for it in your January, April, July and October statements. In between issues, be sure to check out www.ibmsecu.org for up-to-date information about your Credit Union! You can find current information on our products, promotions, rates and more!

End of Year Message From The President

Dear Member, As we close out year 2002, I am pleased to report that your Credit Union remains very healthy and continues to grow. Asset growth remains at a 14% to 15% level as we close in on $600 million in assets. Our rainy day capital reserves remain strong. Our government auditor again gave us great marks in operational control and financial strength. We are committed to providing you with timely, accurate and memorable service. Our objective is to deliver exceptional value by providing you with the best experience possible. As part of that commitment, we implemented our Service Excellence Assurance Program. We are actively surveying members on their service experience with the Credit Union. This feedback is very valuable in identifying areas that need improvement and reinforcing activities where we excel. This year, the Credit Union has expanded its branch and ATM locations to provide more convenient access for you. Our two new Product Centers (branches) are located in Fort Lauderdale on Cypress Creek Road and in Tampa at Rocky Point (causeway to Clearwater). Over 55% of the members use the Credit Union's Online Banking system. This is very high as the industry average is about 24%. Because of our members' desires to use electronic banking, we have added new electronic services. I'm very excited about our e-mail notification system called eMessenger. Many members have signed up for this service. eMessenger has the ability to automatically send your monthly statement, as well as, customized e-mail messages to your PC. eMessages notify you when your checking account balance changes, your Certificate is maturing or when your direct deposit has posted. All this and more and it's free. We have also completely redesigned the Credit Union Web site to improve navigation and organization of information. Visit us at www.ibmsecu.org. Thank you for your support of your Credit Union. I hope you have a great holiday season and prosperous new year. Sincerely, Lary B. McCants, CCE

What's The Best Time To Manage Your Finances?

Any time it's convenient. Your Credit Union can help you manage your finances whenever it's most convenient for you - morning, evening, 24 hours a day. Here are just some of the ways we put money management power at your fingertips. Online Banking: log on and check your account balances, transfer funds, print statements, apply for loans, credit cards or mortgages and much more, 24 hours a day, seven days a week at www.ibmsecu.org. Online Bill Paying*: Make one-time payments, automatic payments or manual payments online and save your most valuable resource: Time. CU Worth: View all of your personal online accounts in one place at one time - and do it all with a single password. You can even check your e-mail. eMessenger: Receive FREE e-mail notifications about your account activity, where you want it, when you want it! Simply choose the messages that you would like to receive, such as: "Your check has cleared" or "Your eStatement is attached." Thanks to IBM Southeast EFCU, managing your money has never been easier! * Online Bill Paying may be subject to certain service and/or transaction fees. Consult a REWARDS brochure, or contact a Member Service Representative for details.

Finding A Car Can Drive You Crazy.

Save time,money and hassles when car shopping When it's time to shop for a car, your Credit Union can save you time, money and hassles. One call to Auto Acquisition is all it takes to locate the car you want at the price you want to pay. Available exclusively to members of IBM Southeast EFCU, Auto Acquisition will help you locate, negotiate, and purchase or lease a new car, truck or SUV for less. Auto Acquisition will give you: The best price available on the make and model car, truck or SUV you request - often a much lower price than a dealer will quote you. Direct delivery of the vehicle you select - right to the nearest branch of your Credit Union. Great interest rates on leases and purchases.* Extended Warranty and GAP Total Loss Protection at rates that beat those available from auto dealerships. Our Auto Acquisition representatives are ready to assist you. In Florida, call Al Gonzalez toll-free at (800) 873-5100, ext. 7740 or (561) 982-4700, ext 7740. In Atlanta, call Jim Styne at (770) 509-2571. In all other areas, please call toll-free (800) 493-2955. You also may visit our Web site at www.ibmsecu.org. *All IBM Southeast EFCU auto loans and/or leases are subject to certain qualifications and credit approval. For more information, please refer to the booklet "Your Loan Disclosures" available on our website, or contact a Member Service Representative at (800) 873-5100 or (561) 982-4700, or e-mail loans@ibmsecu.org for full details on rates, terms, fees and conditions.

And The Winner Is...

Congratulations to Delores Fisher from Boca Raton, FL who won $50 in our October newsletter contest. She was selected in a random drawing after finding the hidden answer to the question: How often should you review your personal credit report? The answer is annually. You could be our next winner-for more information about contests and winners, be sure to read each issue of our newsletter.

Find Any Money Lately?

Find the answer in our newsletter to the following question. You could win $50! Q: What is the name of our free e-mail notification system? E-mail your answer before January 10, 2003 to marketing@ibmsecu.org. Include your name, phone number, and membership number. If you don't have e-mail, mail the above information to Marketing, IBM Southeast EFCU, P.O. Box 5090 Boca Raton, FL 33431-0890.If your answer is correct, we'll enter your name in a random drawing to win $50, which will be automatically deposited into your Credit Union savings account! (Winner will be announced in our April 2003 newsletter. Previous winners, employees and their family members are not eligible.)