January 2014 Issue - Clinchfield Federal Credit Union

CLINCHFIELD FEDERAL CREDIT UNION
QUARTERLY NEWSLETTER JANUARY 2014
Mark your calendars for the 2014
CFCU Annual Meeting! The date
is Friday, March 28th and will be
held at the Unicoi County High
School cafeteria and auditorium.
Your night will include a great
meal, gospel music by The Landmarks, and the phenomenal motivational humorist and
storyteller, Jack McCall, will be speaking! A short business meeting and board of directors election will be held.
The night will wrap up with some fabulous door prizes!
As a member, you attend free of charge. You may bring
a guest for only $10.00 and can pay
anytime at the credit union prior to the
event. Please call us to make your reservation or fill out the reservation form
below, cut it out, and return it to the
Credit Union.
If you receive estatements, please contact us so we
can fill out your reservation form for you.
We look forward to seeing you at this
exciting event! This night is for you.
2014 ANNUAL MEETING RESERVATION CARD
Please reserve ____ places for me at the CFCU
Annual Meeting to be held on Friday, March 28,
2014 at 6:30 P.M. at the Unicoi County High
School. All reservations must be turned in by
Tues., March 25th. Call 743-9192 with questions.
Name: __________________________________
Guest/Joint Owner: ________________________
Mobile Banking allows you to perform financial activities
through the use of your mobile device. Simply put, mobile
banking is online banking on your mobile phone. You may
access this on your smart phone or tablet by downloading our
FREE Clinchfield Federal Credit Union Mobile App from the
iTunes or Google Play store (apples and androids). Through
the app, you are able to quickly locate information you need
without having to go to our website. The app will improve the
way you view your online banking screen on your smart
phone or tablet. No more zooming in and out on your mobile
screen! This Mobile App optimization technology does not
require the storage of financial information on the device. It
presents a simple and secure fix to common member frustrations. Remote Mobile Deposit allows members to capture
images of your checks on your smart phones and tablets and
send the images to us for deposit. Upon approval, you may
start enjoying this exciting new way of handling business.
MORE TO COME AS SERVICES ARE DEVELOPED. STAY TUNED!
January 2014
CLINCHFIELD FEDERAL CREDIT UNION
www.clinchfieldcu.com
Hello from the CEO
Dear CFCU Member,
Happy New Year! It’s going to be a great year; all kinds of exciting
things are going on at your credit union!
2013 was a very good year. We finished the year with strong financials. It is evident that we are giving back to the members as much as possible
with competitive and fair rates, lower fees, and low cost or no cost services
while maintaining required reserves. Our annual audit, annual examination and
quarterly interim audits are all excellent; we work hard to do what is right and
good.
I just opened my mail and we received a 5-Star Superior Rating from
Bauer Financial, Inc. This rating means that our credit union excels in areas of
capital adequacy, profitability and asset quality and indicates that our credit
union is among the top in the nation when it comes to strength and security!
Our members can rest assured that CFCU’s staff is well-trained and I
personally think we have the bright and best working for you. We have several
employees that have received certifications in their areas of expertise and several that have completed the Certified Credit Union Executive courses and can
add the designation of CCUE to their professional signature. Our Board of Directors is also well-trained and several have completed the Volunteer Achievement Program courses.
2014 is going to be an exciting year for new services. We have signed
contracts to offer members our first App for your smart phones and tablets. We
will also be offering Remote Mobile Deposit in the near future. Our website is
now being redesigned to become more compatible with Apple products. Check
the website at www.clinchfieldcu.com for up-to-date information on the App.
You can also check out our Facebook page for news on a regular basis!
During the next year we will continue our efforts to support Relay for
Life as we did this past year. This was one of the most rewarding endeavors as
a group that we have ever participated in. Not only did we exceed our
goal...twice… we came to the realization that this project is important to each
of our members. Everyone has either suffered from some form of cancer or has
a loved one that has; if we all work together, there is no doubt in my mind that
a cure will be found to control or end this dreadful disease.
TRUST. What a wonderful word for someone to say about you. Last
week a young member asked me to help him get ready to finance a car. As we
were going over what he should do, he looked at me and said, “I trust you more
than anyone in the world.” Wow, what powerful words. I take them very seriously and deeply appreciate the trust our members have in all of us. This is one
of the many reasons I absolutely love my job!
Special note to granddaughter, Carly. Being told that not only am I the
“best cooker in the whole world”, but also “Queen of everything” is heartwarming! Especially when everyone knows that children ALWAYS tell the truth!!!
As long as she believes it, it’s good enough for me :)
Sandy
Page 2
Employees
Sandy Lingerfelt, CEO
Rick Phillips, Executive Vice President
Amy Banks, SVP of Operations
Allison Anderson, SVP of Marketing & IT
Lou Hatfield, VP of Lending
Erica Nicholson, VP of Compliance
John McFadden, VP of Collections
Julie Bradford, Administrative Assistant
Mimi Van Dyke, Mortgage Loan Officer
Missy Wainwright, Loan Officer
Alexis Gambrell, Loan Officer
DeAnna Oaks, Loan Officer
Lisa Hatcher, ACH/EFT Coordinator
Amy Hensley, Sr. MSR
April Simmons, Marketing Asst/MSR
Vickie Chambers, Head Teller
Sarah Hyder, MSR
Rhonda Bradley, MSR
Jessica Grindstaff, MSR
Kimberly Lopez, MSR
Marsha Street, File Clerk
Kathy Charles, Receptionist
Reedie Griffith, Receptionist
Board of Directors
Paul C. Monk, Chairman
Wade Tilson, Vice Chairman
Andrew Landers, Secretary
Sandy Lingerfelt, Treasurer
Todd Love, Board Member
Frank Cooke, Board Member
Mitch Manuel, Board Member
Walter Harris, Board Member
Jamie Miller, Board Member
Supervisory Committee
Clarence Bailey, Chairman
Glenn Tilson, Vice-Chairman
Paul Berry, Committee Mbr
Tim Whitson, Committee Mbr
W.R. “Bull” Phillips, Committee Mbr
HOLIDAY CLOSINGS
MONDAY, February 17th
President’s Day
FRIDAY, April 18th
Good Friday
January 2014
CLINCHFIELDwww.clinchfieldcu.com
FEDERAL CREDIT UNION
Page 3
STATEMENT OF FINANCIAL CONDITION
December 31, 2013 (Unaudited)
ASSETS
Loans to Members
Allowance for Loan Losses
Receivables
Cash
Investments
Prepaid Expenses & Deferred Charges
Fixed Assets
Accrued Income
Deposit in NCUSIF
Other Assets
TOTAL ASSETS
LIABILITIES & EQUITY
Accounts Payable
Taxes Payable
Accrued Expenses
Other Liabilities
TOTAL LIABILITIES
MEMBER EQUITY
Regular Shares
Share Draft Accounts
IRA Certificates
Share Certificates
Other Deposits
TOTAL MEMBER EQUITY
$ 48,865,270
(175,131)
611
2,297,965
21,602,432
126,824
1,369,468
146,152
634,978
17,731
$ 74,886,300
$
$
64,762
0
106,725
162,965
334,452
$ 27,123,103
4,821,724
11,513,494
22,125,447
60,690
$ 65,644,458
RESERVES & UNDIVIDED EARNINGS
Regular & Legal Reserves
Undivided Earnings
$
1,320,433
7,586,957
TOTAL CAPITAL
$
8,907,390
TOTAL LIABILITIES & EQUITY
$ 74,886,300
Mortgage Rates May
Be Inching Up Soon
So Don’t Wait!
CFCU CURRENT RATES
First Mortgage Rate
APR*
10 Year Fixed
3.50-6.00%
3.61-6.11%
15 Year Fixed
3.75-6.25%
3.83-6.33%
20 Year Fixed
3.99-6.49%
4.05-6.56%
25/30 Yr ARM w/5 Yr Adjustable and 10/5
Yr Adjustable Rates - Starting at 3.25%
Home Equity
5 Year Fixed
10 Year Fixed
Rate
3.35-5.85%
3.75-6.25%
APR*
3.50-6.00%
3.77-6.28%
Land
10 Year Fixed
Rate
6.50-9.00%
APR*
6.54-9.04%
HELOCs
Rates based on prime
*APR is based on $100,000 loan amount for an 80% LTV
purchase, new money, and reflects prepaid finance charges.
Interest rates quoted are best and subject to change without
notice. Restrictions may apply.
April’s hard work and dedication has earned her a
promotion to a Marketing Assistant/MSR. She is
wonderful at getting things done and we are
excited to see her take on this new position!
Scammers are working hard to cheat people out
of personal information. Please remember to
never verify anything personal on a phone call,
email, or text message! Your information is
YOUR information, so don’t share it!
1038 N. Main Ave., Erwin, TN 37650
www.clinchfieldcu.com
Ph: (423) 743-9192 Fax: (423) 743-6156
Hours: Mon-Fri 8:15 A.M. - 4:30 P.M.
Drive-Thru open on Friday until 6:00 P.M.
VIRTUAL BRANCH
ONLINE BANKING:
www.clinchfieldcu.com
CLINCHFIELD CONNECTION
VOICE RESPONSE:
(800) 724-7442
BENEFITS: 1-800-368-5279
RETIREMENT BOARD: 1-877-772-5772
The Clinchfield Railroad Retired Employees will
be meeting for breakfast at Maple Grove
Restaurant (I-26 Exit 32 in Unicoi) at 9:00 AM
on the first Thursday of each month in 2014:
Feb 6th - March 6th - April 3rd
May 1st - June 5th - July 3rd
Aug 7th - Sept 4th
Oct 2nd - Nov 6th - Dec 4th
Sign up for e-Statements
on your Online Banking!