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September 2012 the newsletter for young members of Alliant Credit Union
1 The story of Christopher
The story of Christopher Columbus and money
Are you going to celebrate Columbus Day on October 8? Here are some things you may or may not know about the man and how he helped change the world. Some people say that money makes the world go round. But many people didn’t think the world was round until Christopher Columbus sailed across the Atlantic Ocean in 1492. And, whether the world was round or flat, money sure had a lot to do with Columbus making the trip in the first place. One of the main reasons why Columbus wanted to sail across the sea was because he wanted to make money – both for himself and for the people who would pay for his trip. Columbus was a good salesman who wouldn’t take “no” for an answer. It took him eight years to find someone who would pay for his trip. Such a trip, even though it included only three small ships and 88 men was expensive. And there was no guarantee that such an adventure would make money. Or even that the sailors would live through the voyage and return home. Many people worried that the ships would be overturned by scary sea serpents or, if the world was flat, that the ships would simply fall off the face of the earth. These are some reasons why the rulers of France, England and Portugal turned Columbus down. At last, the rulers of Spain said, “Let’s go for it.” The Spanish king and queen, like many business people in Europe, wanted to get rich by trading with Asia for its jewels and spices. Traveling to Asia and back in those days took a long time. Plus, the trip was dangerous whether you went by land or sailed all the way around the coast of Africa. Sailing across the Atlantic seemed like a good shortcut, which would make it cheaper to get to Asia and easier to make money. Before he left, Columbus made sure he would make a lot of money if his trip was successful. He made a deal with the Spanish rulers. He would earn 10% of whatever money the trip made. As Columbus sailed across the ocean, many of his sailors were scared and begged for him to turn back. Columbus refused. After more than two months, he reached land. The land was not Asia, although he thought it was. Instead, he landed in the Bahamas, which he wrongly thought was the East Indies. That’s why he called the natives “Indians.” His travels took him to Cuba, which he thought was China and to Haiti, which he thought was Japan. Columbus returned to Spain with gold. He also brought back things Europeans had never seen before, including some “Indians” (which he brought as slaves), tobacco, pineapples, turkeys and hammocks. Later on, other explorers brought back some other things that were new to Europeans, including pumpkins, corn, tomatoes, potatoes, chili peppers, peanuts, chocolate and vanilla. Before long, lots of people in Europe made money selling these things. For example, Europeans took up the habit of smoking tobacco in pipes. They also began to grow tomatoes in their garden, at first just for decoration (because the early tomatoes brought over were pretty but also poisonous). And once people ate chocolate, it became one of their most favorite things to eat (as it still is today). Today, Columbus Day is celebrated on the second Monday in October. Many kids across the country get the day off from school. Kids in South Dakota get the day off, but they celebrate the day as Native Americans Day. Kids in Hawaii celebrate the day as Discoverer’s Day, honoring the Polynesian sailors who sailed across the Pacific Ocean in canoes and first settled their state.
Sources: vlib.us, tudorhistory.org, usatoday.com, eduplace.com and apstudynotes.org
Columbus and money
2 What will you be for Halloween?
“Big word” money crossword
October Savings Dividend DECLARED AUGUST 16, 2012
The October 2012 Savings and IRA dividend, declared 08/16/12, provides a Compounded Annual Percentage Yield of
Dividends are paid on the last day of the month to accountholders who have maintained an average daily balance of $100 or more. Savings dividend is subject to change monthly.
October Checking Dividend DECLARED AUGUST 16, 2012
The October 2012 High Rate Checking dividend, declared 08/16/12, provides a Compounded Annual Percentage Yield of
Checking dividends are paid on the last day of each month to accountholders who meet the requirements of the account. Checking dividend is subject to change monthly.
boo! fright night is coming
What will you be for Halloween?
Are you going to dress up in a costume and go trick-or-treating this Halloween? If so, do you know what you’ll be? Many kids (sometimes with their parents help) make wonderful, fun costumes from scratch. They use things they find in the house, such as old bed sheets, cardboard, safety pins, ribbons and mom’s make-up. And sometimes what they come up with is a cool, fun costume that is so creative and different that no other kid in the neighborhood is dressed the same way. Meanwhile, lots of kids like to make or buy costumes that never go out of style, such as vampires, ghosts, devils, werewolves, witches and, more recently, Ninjas. These costumes are sure to be popular again this year because of the success of the Monster High dolls and TV shows, such as “Twilight.” Other kids want to be sure to be decked out in one of the latest Halloween fashion crazes.
Here are the costumes expected to be the most popular this year, according to squidoo.com and Halloween Express:
1. Smurfs 2. Harry Potter characters 3. Princesses (including Cinderella, Snow White, Tinkerbell, Brave Merida and Indian Maiden) 4. Star Wars characters 5. Twilight characters 6. Superheroes (including Spiderman, Batman, Ironman, Captain America, The Hulk and Thor) 7. Pirates (especially Jake Sparrow) 8. Monster High characters 9. Miley Cyrus (Hannah Montana) 10. Justin Bieber 11. Mario 12. Angry Birds
Sources: halloweenexpress.com, squidoo.com and time.com
“Big word” money crossword
How well can you speak the language of people who deal with money? Take this quiz to see if you know some of the big words people use when they talk about finances. If you don’t know the meaning of these words already, then this quiz can help you do so.
1 3 2
Down 1 As people get older, they may have saved enough money to live on for the rest of their lives. And they may decide to stop working. When people end their career, we say they ______. 2 Every year, your parents have to fill out ______ forms to report to the government how much money they earned for the year. Want another clue? OK. When you buy stuff at the store, you usually have to pay the price for your item, plus extra money the government calls a sales ______. 3 There’s an old saying or joke that says the _______ is in the mail (whether it is or not). This is a slip of paper that often comes in a little booklet. You write on the paper the name of the person or company you are paying, the amount of money you are paying and then you sign it with your name. 5 Valuable items you own such as stocks, houses and money are called _____. They are the opposite of money or liabilities that you owe to others. 6 When you owe somebody money, you have a ______ owed to that person.
Across 3 This word means paper money that people exchange with each other. There are also places in some areas that are like money stores where people go to cash checks or buy stuff like license plate stickers for their cars. This place is called a ______ Exchange. 4 When you do something and get paid for it, you get money, which you can also call ________. 7. Let’s say you bought insurance for your car so you won’t have the pay the full cost of a repair if you get in an accident. Often when you buy this insurance, your contract will include a ______ or the amount of money you will have to pay first before the auto insurance will pay for anything. 8 People who invest their money often do so in stocks and ______. When you buy _____, you get a certificate from the government or a company saying that it will guarantee paying you back what you gave, plus some extra money called interest, by a specific date in the future.
Source: Kid’s Corner
Were you on the money in knowing the words for this crossword puzzle? Let’s see. Down: 1) retire; 2) tax; 3) check; 5) assets; 6 debt. Across: 3) currency; 4) earnings; 7) deductible; 8) bonds.
PO Box 66945, Chicago, IL 60666-0945 www.alliantcreditunion.org
Alliant Headquarters 11545 W. Touhy Avenue Chicago, IL 60666
office closings Columbus Day –Monday, October 8, 2012 Veterans Day –Monday, November 12, 2012
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Alliant is available 24/7 via our Member Contact Center, website, Self Service Telephone, Alliant Mobile Banking and ATMs.
All other correspondence including IRA and HSA Deposits Attn: IRA/HSA Dept. PO Box 66945 Chicago, IL 60666-0945 Alliant Member Contact Center 800-328-1935 24/7 personal assistance TDD/TTY 773-462-2300 Self Service Telephone (SST) 800-482-5328 24/7 automated account access
Alliant Retirement and Investment Services Financial Advisors are available to serve members in all states. Call 800-328-1935, option “9”. Alliant Website and Online Banking www.alliantcreditunion.org