membershipmatters - Barksdale Federal Credit Union

Volume 58 | No. 1 | January 2012
MEMBERSHIPMATTERS
P5 | Barksdale Federal Scholarships
P5 | Paying Bills During a Financial Crisis
P6 | UChoose Rewards – Earn Points Faster!
www.bfcu.org | 800-647-2328
2 | www.bfcu.org
INSIDE
THIS ISSUE
Income Tax Service at BFCU.........................3
Sign up for eAlerts.......................................4
Tax Tips.......................................................4
Handling Bill Paying During a
Financial Crisis .............................................5
Barksdale Federal Scholarships ....................5
UChoose Rewards®.....................................6
Community News........................................7
Rates and Dates..........................................8
Make a Club Account Your Fun Account.....8
Barksdale Federal Credit Union Financials
November 2010 November 2011
____________________________________________________________
Loans
$464,163,691 $488,174,827
Assets
$953,644,867 $1,044,841,121
Deposits
$858,438,444 $942,825,671
Reserves
$91,643,625 $98,672,208
Members
100,189 99,613
All financials are rounded to the nearest dollar.
For more information, center locations and hours,
visit www.bfcu.org, or call 318-549-8240 or
800-647-BFCU (2328). CUSCs can be found
at www.cuservicecenters.com.
This publication does not constitute legal, accounting or other
professional advice. Although it is intended to be accurate, neither
the publisher nor any other party assumes liability for loss or damage
due to reliance on this material. Images may be from one or more of
these sources: ©Thinkstock, ©iStock, ©Fotolia.
©2012 Priority Integrated Marketing | priorityresults.com
Message from
W
e at Barksdale Federal Credit Union hope your holidays were
filled with moments of inspiration and joy. The credit union
finished on a particularly high note this year. As the sponsor of
the Leesville Christmas parade, Board members were on the
main stage welcoming 4,200 soldiers from the 4\10 Mountain
Division and four other units attached to Ft. Polk returning
from duty in Afghanistan. It was the largest military parade
in Leesville/Ft. Polk since 1943 and a very emotional event
for everyone involved. It was certainly an honor for the many
credit union staff members who worked so hard to make the
event a success.
The year of 2011 was important for Barksdale Federal Credit
Union for a variety of reasons. First and foremost, at the beginning of the year, we became the first credit union in Louisiana
to reach the $1 billion mark, making Barksdale Federal one of
the 200 largest credit unions in the country. Our phenomenal
growth over the past few years has been a testimony to the
credit union’s reputation of safety and soundness as well as to
its member service. Due to low savings rates and uncertainty in
the economy, the market has not been kind to depositors. Word
from the Federal Reserve is that these low interest rates will
continue on in the market for some time. We understand the
burden this has placed on savers, and we have kept our rates as
high as possible while maintaining a conservative and prudent
business model. This has been a difficult task as deposit growth
has been over two times greater than loan growth over the past
few years, putting a lot of pressure on the credit union’s investment portfolio as deposits continue to flow in.
At the same time, loan rates are at historic lows and Barksdale
Federal continues to be the leading lender for new and used
auto purchases in our market areas. Our home mortgage
department continues to be overwhelmed with members
wanting to purchase a home or refinance their existing home
mortgages at today’s remarkably low interest rates. And while
loan growth rates around the country for credit unions continue to be flat, Barksdale Federal continues to see steady
growth in our loan portfolio. Our challenge, however, is to
maintain a growth rate in our loan portfolio that matches our
deposit growth rate.
One solution to that problem has presented itself as an
opportunity this last year. Many of our members have small
businesses that need loans and other business services to
Your Financial Partner for Life | 3
the CEO
leverage the growth and success of their
endeavors. Right now we have a handful of
member business loans and related business
service accounts, and I know that these members
have been very happy with the attention and
service they are receiving on a daily basis. They
have all mentioned how delighted they are with
their current relationship with the credit union.
If you or someone you know is interested in a
“different” level of business service, come in and
check us out. You won’t regret it.
Also, we are very excited about new products
coming down the line with our home banking
vendor. Our home banking product has been
a very successful service for many of our members. We have been in negotiations with them
for months and have just signed a new contract.
Look forward to some enhancements in the
near future including new smartphone and
tablet applications.
Thank you for your patronage and making
Barksdale Federal Credit Union the success it is.
We value your partnership with this organization
and will never take it for granted.
Sincerely,
Income
Service at BFCU
B
arksdale Federal Credit Union provides its members a year-round tax service.
For 23 years C. Taylor has been providing tax preparation and advice to BFCU
members. The service includes individual, partnership and corporation returns.
They also complete all state returns to better serve our military members.
Speedy electronic filing ensures you receive your refund quickly. With prices below
most other tax services, and BFCU members receiving a special discount, this is
your best buy in income tax service.
Call 318-549-4017 for an appointment or stop in and see C. Taylor and his staff
at Northgate Center, 720 Northgate Road, Bossier City, LA, or Penny Durham
at Eastbank Center, 1560 E. 70th Street, Shreveport, LA. Penny Durham can be
reached for an appointment by calling 318-629-8389 or 318-458-8058.
Make Barksdale Federal your complete financial home. Join your fellow members
who rely on the professionals at C. Taylor tax service. Allow them to show you
how the latest changes to the tax code can benefit you.
Rod Taylor
CEO of Barksdale
Federal Credit Union
Is Your Address
Correct?
If the address we have on file is not your
current mailing address, please sign in
to Global Access (online banking) at
www.bfcu.org and click on Secure
Forms and then Address Change Form
to update your contact information. If you
have a Visa® Check Card, Credit Card or
ATM Card, this is especially important. In addition, please verify that your
email address is correct by clicking User Options and then E-mail Address.
4 | www.bfcu.org
eAlerts: Helping You Stay
on Top of Your Finances
L
ife moves quickly, and your finances
need to keep up. With text message
banking notifications and email alerts
from Barksdale Federal Credit Union,
you can receive an email or text message
within minutes of account transactions like
withdrawals or direct deposits. It’s a free
and easy way to monitor your money on
the go.*
To set up your personalized eAlerts, log in
to online banking and select the notifications you want to receive:
• Your balance is above or below an
amount you specify.
• A check posts to your account.
• Your credit card balance exceeds an
amount you choose.
• Your credit card or loan payment is due.
• And more!
In addition to helping you stay on top of
your finances, the nearly real-time updates
on your accounts may save you money by
helping you avoid fees for a low account
balance or nonsufficient funds. Signing up
for loan payment reminders can also help
you dodge late fees. And eAlerts can provide yet another layer of protection against
account fraud by letting you know when
your account has a failed log in attempt.
You can easily alter eAlerts once you set
them up, so you can be sure you receive
the information that is most important to
you. To get started or change your eAlert
preferences, just visit www.bfcu.org
today. After all, when you do slow down,
it shouldn’t be to do your banking.
*A
lerts sent to your wireless device may be subject to a
fee by your wireless service.
1 The name and account number must
match exactly in order for the deposit to
be credited to your account. If not, it will
be returned.
2 The person receiving the tax
refund must be on the account.
Please see example above on how
to fill out your 1040 form.
Tax Time Tips
Tax Time Tips
Follow the helpful hints below to avoid
any delays in receiving your refund into
your Barksdale Federal account.
Your Financial Partner for Life | 5
Directors’ Corner
Handling Bill
Paying During a
Board of Directors: (Back row) Keith Fontenot, Al Oar,
Charleene Ringler, Bernie Hawk and Roy Walling
(Front row) Emory Goodman and Virgil Barnette
FINANCIAL CRISIS
M
any circumstances can derail even
the best financial plans and leave
you with less money than you need.
However, paying the most important
bills first and communicating with
creditors for the ones you cannot pay
can help you minimize the damage until
you are back on your feet.
Your monthly obligations may include:
• Mortgage or rent. Your mortgage
or rent should be the first bill paid
each month. However, if making payments is impossible, let your lender or
landlord know – they may be willing to
work with you. Is your mortgage
or rent affordable long-term? If not,
you may want to look for a cheaper
place to live.
• Car loan. Since your car can be
repossessed if you miss payments,
paying on time is important. However,
if you are not able to do that, ask your
lender if you can skip a payment or
two or pay back missed payments
gradually. If you cannot reach an
agreement or resume payments, you
may want to sell the car before it is
repossessed.
• Utilities. Delinquent utility payments
can cause your service to be suspended
or terminated, but some utilities are
Apply by Feb. 10
Barksdale
Federal
Scholarships
Barksdale Federal Credit Union is proud to offer scholarships to those
seeking to make their dreams a reality. If you are planning to attend
college in the fall of 2012 and are interested in applying for a Barksdale
Federal scholarship, please visit www.bfcu.org or a center near you
for eligibility rules and application. All applications must be postmarked
on or before Friday, Feb. 10, 2012. The winners will be asked to attend
the Annual Meeting on Thursday, March 29, 2012.
more important than others. If a service is not needed, you may just want
to cancel it. If it is essential, call the
utility company and ask if a payment
arrangement is possible. Also inquire
about assistance programs for people
facing economic hardship.
• Student loans. If no payments are
made for 180 days, you are considered
in default, with possible consequences
including tax refund interception and
wage garnishment. However, borrowers can often avoid delinquency by
asking for a forbearance or deferment.
• Credit cards. While you could be
sued or have accounts go to collections
if you stop making payments, credit
cards are less important than a mortgage or a car loan, and most creditors
do not take legal action right away.
However, avoid completely ignoring
creditors. If making payments is difficult, you may want to talk to them
about hardship programs.
You do not have to deal with financial hardship alone. As a benefit of
your membership, you have access to
BALANCESM, a free financial education
and counseling service. Their counselors can discuss options for handling
debt and other bills as well as help you
create a budget. Call 888-456-2227 or
visit www.balancepro.net for more
information.
6 | www.bfcu.org
Our UChoose
®
Rewards Program
Where You Choose Where to Earn and How to Redeem Your Points!
S
ay goodbye to waiting forever to earn enough points to redeem. Say hello
to the UChoose Rewards program at Barksdale Federal Credit Union.
UChoose Rewards is a program based on giving you a choice of where to
shop and what to get for all the points you earn.
There’s never been a better time to start using your BFCU Credit Card
and Debit Card for all your day-to-day needs. Shop in stores or online
to earn points. Watch your points add up fast by earning them several
ways! Here’s how.
• Visit the profile tab on https://www.uchooserewards.com
to link your additional cards and combine your points for more
purchasing power.
• Earn 1 point per $2 every time you use your BFCU Debit Card
and sign for your purchases and 1 point for every $1 when you
make a qualifying purchase with your BFCU Credit Card. Plus,
you’ll earn additional points when you shop at retailers participating in the program.
• View a list of participating retailers at https://www.uchooserewards.com.
• Use your points to choose from millions of products, travel experiences,
activities and event tickets, gift cards and much more. Log on to
https://www.uchooserewards.com to see your points balance,
and then view all the items for which you can redeem your points.
For more information on the UChoose Rewards
program, please contact us at 800-647-2328,
option 4, or visit the center nearest you.
BFCU in the Community
BFCU employees from the southern centers
collected more than 60 bags of clothing donations
in support of Goodwill Industries.
BFCU employees raised awareness for Alzheimer’s
disease by taking part in the Walk to End
Alzheimer’s at the Louisiana Boardwalk on Oct. 22.
BFCU was a proud sponsor and participated in
the Bossier Chamber Military & Members Bowling
tournament on Oct. 21.
Your Financial Partner for Life | 7
Community News
• Our Blanchard center hosted a dinner
for Select Employee Groups that offer
credit union services to their employees
on Oct. 3.
• In October we launched the Cell Phones
for Soldiers Recycling Program. Donation boxes were placed at every center
so members could drop off unneeded
cell phones. For each phone donated a
deployed soldier received a free calling
card to call home.
• BFCU donated 300 footballs to Bossier
High School for students to throw at
upcoming football games on Oct. 5.
• BFCU participated in the Bossier College
Fair where students from Bossier Parish
received information from schools and
vendors about furthering their education.
• BFCU held a Goodwill Clothing Drive
where northern region employees
brought in more than 300 bags of clothing donations in support of Goodwill
Industries on Oct. 10.
• BFCU employees from the southern centers participated in the Alexandria Susan
G. Komen Run/Walk and raised more
than $550 for the cause on Oct. 15.
• BFCU sponsored the Southwest Louisiana golf tournament at Coushatta
Casino and provided giveaways and door
prizes on Oct. 21.
• BFCU employees presented a homebuying seminar to the Johnson Temple
Church men’s conference Oct. 22.
• BFCU hosted an information booth at
the Bossier City Employees Benefits Fair
to offer credit union services and answer
questions to all the employees of Bossier
City on Oct. 26 and 27.
• BFCU held a Facebook contest and gave
away a Disney® Live Princess Package
with a Disney Fairy Princess doll and four
tickets to see Disney Live on Oct. 27.
• BFCU employees from the northern
centers participated in the American
Heart Association Fun Run/Walk to help
raise money for research and education
to reduce heart disease and stroke on
Oct. 29.
• BFCU hosted a Halloween Bash at our
Fort Polk center with candy giveaways,
games and event photos on Oct. 31.
• BFCU presented checks to Benton
Elementary School and Benton Middle
School, both chosen as Bossier Schools
We Care Winners on Nov. 2.
• BFCU employees taught a banking class
to prisoners at the Oakdale FCI during
the resource fair on Nov. 2.
• BFCU employees volunteered their time
to assist the NWLA Food Bank by sorting
and packing food boxes for the seniors
program on Nov. 5.
• BFCU was a sponsor at the Veterans
Win at Business Breakfast. The LA Small
Business Development Center hosted a
breakfast for all local veterans to learn
helpful information for business owners
or future business owners on Nov. 9.
• BFCU held a Facebook contest for a
Veterans Day American Flag Giveaway. Members submitted letters about
patriotism for a chance to win one of 10
American flags from Nov. 1-10.
• BFCU was presented with a thank you
certificate for monetary donations to
Wounded Warrior Project at Fort Polk
on Nov. 10.
•B
FCU employees donated more than $500
to purchase games, puzzles, books and
other comfort items for patients at the VA
Hospital during a fundraiser on Nov. 18.
• BFCU southern regions employees
answered phones at the Alexandria Food
Bank telethon on Dec. 1.
Welcome New SEGs
American Forest Products – Anacoco
Bing Outdoor Media, LLC – Shreveport
Brandon Wilson Consulting, LLC –
Hornbeck
G&J Leasing LLC – Hornbeck
Jeb Willard Physical Therapy – Springhill
Joan Kathey Dance Center Stars, Inc. –
Leesville
Turner Business Group, Inc. – Leesville
Verallia – Simsboro
• BFCU hosted two donation events for the
LifeShare Northern Region Blood Drive
on Dec. 1.
• BFCU employees baked dozens of cookies
on Dec. 6 as a donation to the Airmen
Cookie program that provides baked
cookies and goodies for local airmen who
can’t be with family for the holidays.
• BFCU partnered with the U.S. Marine
Corps to serve as drop locations for Toys
for Tots during December.
• BFCU was the stage sponsor at the
Leesville “I’ll Be Home for Christmas”
military welcome home parade and served
hot chocolate to thousands of attendees
on Dec.10.
• BFCU employees rode a float in the
Benton Christmas Parade and passed
out cups and candy to parade attendees
on Dec. 10 to help the Town of Benton
celebrate Christmas.
• BFCU employees volunteered at water stations and concession stands for the Sports
spectrum Christmas Run on Dec. 13.
Rates and Dates
2701 Village Lane
Bossier City, LA 71112
Account
RateAPY*
_______________________________________________________
Prime Savings
0.50%
0.50%
Sp. Purpose Savings
0.50%
0.50%
_______________________________________________________
318-549-8240
www.bfcu.org
Children’s Savings
0.50%
0.50%
Christmas Club
2.00%
2.00%
_______________________________________________________
IRA Prime Savings
0.50%
0.50%
Regular Checking
0.25%
0.25%
_______________________________________________________
Plus Checking
High Five Checking
0.50%
0.25%
0.50%
0.25%
* Annual Percentage Yield.
Rates effective Nov. 5, 2011. Rates
subject to change without notice.
Federally Insured by NCUA
Holiday Closings
Barksdale Federal Credit Union will be closed
for the following holidays:
Martin Luther King Jr. Day
Jan. 16
Presidents Day
Feb. 20
Make a Christmas Club
Account Your FUN
ACCUNT
Your goals and needs have no doubt
changed over time, but you still have them –
and you still need savings to achieve many
of them. A Christmas Club account can be
a handy tool to save for any short-term goal,
from buying a new car or renovating your
home to visiting your grandkids.
Christmas Club accounts offer many of the
same benefits as a regular savings account,
including up to $250,000 in federal insurance
from the NCUA and a chance to earn interest.
Join Us for Your
Annual Meeting
Thursday, March 29, 2012
Bossier Civic Center
620 Benton Road
Bossier City, LA
Report lost or stolen Credit
cards: 800-543-5073 or
727-570-4881 after hours.
Debit cards: 800-472-3272
or 973-682-2652.
Because it is completely separate
from your other savings, you’ll be less
tempted to spend the funds on anything but their intended purpose. The
account gives you a set timeframe to
save, then the funds are automatically
transferred to your savings account for
you to spend.
Setting a regular contribution schedule through automatic transfers or
direct deposit gives you the discipline
to reach your goals. For example,
if you want to save $2,000 for next
year’s trip to visit old friends, you
can arrange to contribute around
$165 each month for the next
January 2012 will mark the
Grand Opening Celebration
of our newest center – 6790
Pines Road, Shreveport, LA.
12 months. You can either consider
the earned interest a bonus, or keep
it in mind when determining your
monthly contribution amount.
A Christmas Club account also gives
you the incentive to keep on saving.
With each monthly statement, you’ll
watch your savings grow as you get
closer to achieving your goal. Get
started today by calling 800-647-2328,
option 4, visiting www.bfcu.org or
stopping by the nearest center to set
up your account.