membershipmatters - Barksdale Federal Credit Union

Volume 57 | No. 4 | October 2011
MEMBERSHIPMATTERS
P4 | Get the Most from Your Checking Account
P5 | The Truth about Debt
P8 | UChoose Rewards Program
www.bfcu.org | 800-647-2328
2 | www.bfcu.org
INSIDE
THIS ISSUE
Are You Getting the Most from Your
Checking Account?......................................4
Board Nominations ......................................4
The Truth About Debt: It’s Not All Bad ...........5
Tax Tips.......................................................5
UChoose Rewards......................................6
Community News........................................7
Rates and Dates..........................................8
Simplify Your Life with E-Statements............8
Tips for Traveling During the Holidays..........8
Barksdale Federal Credit Union Financials
July 2010
July 2011
____________________________________________________________
Loans
$432,535,036 $484,704,878
Assets
$950,885,357 $1,035,209,516
Deposits
$856,003,478 $932,943,014
Reserves
$89,469,239 $96,473,175
Members
101,103 100,169
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.
©2011 Priority Integrated Marketing | priorityresults.com
Message from
T
his year, the staff and official family at Barksdale Federal Credit
Union has once again demonstrated their deep love of their
communities and Armed Forces which we serve and who, in
turn, serve each of us throughout the world. I am very proud
of the reputation that they earned over decades by serving
you, our members, and understanding that here at Barksdale
Federal, that’s job one.
We also understand that our membership is a special group of
people, Americans and Louisianans of all walks of life. There
is such strength in the makeup of our membership. Having
gone through the moving ceremonies and remembrances of
the tenth anniversary of 9-11, I am reminded of the remarkable resilience of this country. At Barksdale Air Force Base and
the Ft. Polk Army Post, I meet young men and women who
have dedicated their lives and, by extension, the lives of their
families to ensure that the remarkable freedoms we enjoy on a
daily basis are kept intact. None of us, no matter what current
circumstances in which we may find ourselves, should take for
granted what has been so hard fought and bought with the
blood of our relatives and neighbors over the years. Our freedoms and diversity make us a unique people and continue to
mold our national character. We have a particular perspective
of what is right and wrong, what we expect of our institutions
and leaders, and what we expect in our day-to-day encounters
with the people with whom we do business on Main Street. We
are the envy of the world and for good reason.
Those same values are also evident within the credit union
movement and here at Barksdale Federal Credit Union in particular. We are a business that is built and democratically run
on the principle that our customer/members are the reason we
exist as an institution. That’s a very powerful principle. Why
wouldn’t you want to do business with an organization based
on serving your best interest in the best way they know how?
If you have friends or family who are not associated with a
credit union, please educate them to the benefits that we can
offer them. Many young people are not quite sure what a credit
union can do for them. This is particularly frustrating because
it is precisely this group who benefits most from the services
offered by Barksdale Federal through financial education, fair
pricing and straightforward savings and loan products that
are easy to understand and maximize the value offered to our
members.
Your Financial Partner for Life | 3
the CEO
As we move toward the end of 2011, I would like to
thank you all for the tremendous level of use of your
credit union and its products. Our Motion Promotion
auto loan season was a remarkable success. As we all
begin our holiday traditions – shopping, traveling, family get-togethers – remember we offer a variety of loan
products. Be sure to take advantage of the loan product
best suited to fit your needs during the holiday season that
is upon us.
We continue to be the leading lender in all our primary
market areas. And even though market saving rates are
near all-time lows, you continue to demonstrate your trust
in the safety and soundness of this institution by growing
the size of our deposits to all-time highs.
Sincerely,
Rod Taylor
CEO of Barksdale
Federal Credit Union
4 | www.bfcu.org
How’s Your Checking Account?
N
o one likes to be taken for granted. Not
even a humble checking account.
OK, our checking accounts don’t really have
feelings. But taking your checking account
for granted can result in you not getting the
most from this powerful financial tool. If it’s
been a while since you thought about your
checking account, you may not realize all the
benefits it has to offer you. Or, you may not
have the checking account that’s best for you.
Are you taking full advantage of these great
features?
• Convenient check/debit card with
free ATM transactions at all Barksdale
Federal Credit Union ATMs.
• Time-saving direct deposit. It’s the
fastest, most convenient way to deposit
paychecks or other recurring payments.
• 24/7 telephone banking. Call
318-549-8000 anytime to check your
balance, transfer funds, see if a check has
cleared and much more.
Board Nominations
Nominating Committee Chairman Huey
Lewing has announced the selection of the
following candidates to fill two Board of
Directors expiring terms.
Arno Easterly, Jr.
Veteran U.S. Army Reserve. Earned grade of
Sergeant First Class (E7) during his second
period of Active Duty. Retired in 2008 as
President & CEO of Barksdale Federal Credit
Union. While working with Board and staff
saw assets increase from $75 million to $700
million, locations from two to 16 and reserves
increased from less than 1% to nearly 12%.
During his tenure many new services were
added including home mortgage services.
Currently serves as Chairman of the Supervisory Committee with strong interest in
security of member account information.
Serves his Lord as Chairman of Deacons at
Airline Baptist and teaches the class of oldest
•S
ecure online banking. Enjoy
password-protected access to your
account 24/7.
• Simple online bill pay. Pay your
bills in a matter of moments with just
a few clicks, and save on postage.
•H
andy overdraft protection.
Don’t let an innocent mistake in your check
ledger lead to embarrassment at the cash
register. Enroll in Overdraft Privilege Plus.
This program will provide you the same
overdraft coverage you currently have on
paper checks and automatic ACH payments, and in addition will offer you this
coverage on everyday debit card transactions and ATM transactions. Contact us at
318-549-8145 or 800-647-2328 for more
information.
• Convenient auto transfer. Paying
yourself first is easier when you set up an
automatic transfer from your checking to
your savings account. Use this service to
make loan payments, too!
men. He and wife, Clara, have two sons and
four grandchildren. He was awarded with the
Professional (CEO) of the Year by National
Association of Federal Credit Unions in 2004,
Business Person of the Year by Bossier Chamber in 2006 and Honorary Louisiana Assistant
Attorney General for interest in protecting
female employees from domestic abuse.
Al Oar
Retired Chief Master Sergeant from Barksdale
AFB, November 1992 after serving 30 years
in the United States Air Force. He has served
on the Board of Directors since 1989 and
served eight years on the Loan Policy Committee. He holds a degree in Applied Science
& Personnel Administration and a B.S. in
Business Management. He retired from Overton Brooks VA Medical Center. He is an active
member of Shady Grove Baptist Church.
He is a member of the American Legion and
• Earth-friendly online statements.
Cut paper clutter in your home, help
protect the environment and enjoy stateof-the-art security with Estatements.
• Neat check images. Put an end to shoe
boxes filled with canceled checks. You can
view the front and back of your cashed
checks securely online.
• Unlimited check writing. There are no
per-check fees.
• Handy mobile banking. Access to your
account travels with you.
We offer a variety of checking accounts, so
there’s sure to be one that fits your money
management style. And they’re all insured
up to $250,000 by the NCUA. Not sure
which one to pick? Call 318-549-8145 and
speak with a member services representative
to help you choose the checking account
that’s best for you.
lifetime member of the Air Force Sergeants
Association. He is also a member of the
Bossier Sheriff’s Posse. Married to the former
Linda Ross of Shreveport with two children, a
son and a daughter, and four grandchildren.
Interested members who were not nominated
by the committee may be nominated by a
signed petition of at least 100 primary members and must contact the Administrative
Assistant at 318-549-8017 for procedures,
forms and instructions.
Candidates must be willing to serve in a
volunteer capacity for three years and avail
themselves for educational opportunities.
Completed petitions must be returned to the
Nominating Committee in care of the
Administrative Assistant, 2701 Village Lane,
Bossier City, LA 71112. Petitions will be
accepted no later than 5 p.m. on Wednesday,
November 30, 2011.
Your Financial Partner for Life | 5
Directors’ Corner
The Truth
about DEBT:
It’s Not All Bad
D
ebt is a four-letter word – and it’s
often used like one. We avoid it.
We spurn it. We don’t mention it in
polite company. But debt isn’t all bad.
In fact, debt can actually help you build
wealth – if you learn to use it wisely.
Good vs. Bad
Generally, debt is considered good if
you use the money to buy something
with the potential to grow in value. A
college education stands to boost your
earning power throughout life, so a
student loan may be a good debt. Owning a home gives you a place to live and
affords you tax advantages, plus the
home’s value may appreciate over time,
so a mortgage is often a good debt. But
even good debt has a few caveats: Be
sure to borrow only what you can afford
to pay back, and shop around for the
best rate.
Using credit to buy disposable goods
(like a T-shirt or a pizza) or anything
that falls in value would result in bad
debt, which can quickly stanch your
cash flow. For example, if you charge a
$500 high-definition TV to a credit card
with a 17% interest rate, you could end
up forking over $622 in total if you took
just three years to repay the debt and
paid only the minimum. And the higher
the purchase price, the more interest
you’ll pay.
But the line between good debt and bad
debt isn’t always so stark. For instance,
you may find it imperative to buy a car
in order to hold down a job, but lack
Tax Tips
Getting a jump start on your taxes? Setting up direct deposit for payroll?
Remember these important facts
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
deposit must be on the
account.
Board of Directors: (Back row) Keith Fontenot, Al Oar,
Charleene Ringler, Bernie Hawk and Roy Walling
(Front row) Emory Goodman and Virgil Barnette
the funds to purchase it outright. While
a car doesn’t have much potential to
grow in value, it doesn’t have to be a bad
debt. The trick is to be conservative and
buy only what you can afford.
Where Do You Stand?
Most experts recommend spending
no more than 36% of your monthly
income to pay off debt. Most lenders
will consider this figure – called a debtto-income ratio – when determining
whether they will lend you money, and
at what rate.
Do you know your debt-to-income
ratio? A BALANCESM Financial Fitness counselor can help you assess your
financial picture and suggest ways to
improve it, all at no charge to you. Just
call 888-456-2227 to get started.
Establishing a Barksdale Federal Credit
Union savings account can also help
you avoid or reduce future debt. Call
318-549-8145, visit www.bfcu.org,
or stop by a center today to learn more.
6 | www.bfcu.org
It’s Here! More Choices
®
from UChoose Rewards
N
ow, Barksdale Federal Credit
Union members can take
advantage of an exciting new rewards
program that delivers more rewards
choices than ever!
Most rewards programs have limited
options on where to shop, and it takes
forever for your points to accumulate.
UChoose Rewards changes all of that.
With UChoose Rewards, you choose
where to shop and what to get for all
the points you earn. You have access to
hundreds of retailers where you earn
big rewards, and there are millions of
redemption choices. Watch your points
add up each and every time you shop
with your Barksdale Federal Check
Card and Credit Card.
How Does It Work?
Shop and your points accumulate:
• Earn 1 point for every $2 spent on your
check card, and 1 point per $1 on your
credit card every time you use your
cards and sign for your purchases.
• Plus, earn additional points by shopping at
participating retailers in-store or online at
https://www.uchooserewards.com.
It’s that easy! The more you shop, the
more points you earn. Use your points
to choose from a wide array of products,
travel experiences and activities, event
tickets, and much more.
There’s never been a better time to start
using your Barksdale Federal Check
Card and Credit Card for all your
day-to-day needs.
A Green Rewards Program
UChoose Rewards is an environmentally friendly rewards program, with no
paperwork to complete or forms to mail
in. Everything you need – from registration to redemption – is available through
https://www.uchooserewards.com,
including:
• A full online catalog of redemption
options.
• A Wish List to track the items you
really want.
• Smart shopping advice so you spend
your money wisely.
And much more!
Get exactly what you want from your
rewards program. The choices are endless!
Don’t Lose Your Current
Rewards Points
Time is running out to maintain your
Barksdale Federal VISA® Reward Points.
Sign up for your UChoose Rewards
account by Dec. 31, 2011, to ensure you
do not lose your reward points.
• A complete list of in-store and
online-only retailers.
• Access to search tools to help you find
the right retailer – use keywords, categories, ZIP code searches and more.
Why throw away your money?
With the Sprint Credit Union Member Discount Plan
You’ll get:
• 10% off most regularly priced Sprint service plans
• 15% off most regularly priced Sprint business service plans
• Waived activation fee on new activations
• Waived upgrade fee
Click www.SprintSave4CU.com.
Call 877.SAVE.4.CU. (877.728.3428)
Visit your local Sprint retail location
©2010 CUcorp, Inc. 800-13 (01/10) 551
Just tell them you’re a
Credit Union Member
to get this exclusive offer.
Ask them to be attached to the
NACUC_ZZM Corporate ID.
Your Financial Partner for Life | 7
Community News
• BFCU southern region employees boxed
up more than 245 50-pound boxes of
food for the Alexandria Food Bank June 11.
• BFCU sponsored the Beauregard
Chamber of Commerce Golf
Tournament and handed out sunscreen
and towels to players July 9.
• BFCU employees from our Leesville
center made baskets for soldiers of
the Engineering Battalion at Fort Polk
returning from Afghanistan on July 29.
• BFCU sponsored the Quota Club Icing
on the Cake event at the Bossier Parish
Community College July 30.
• BFCU donated $5,000 to families
displaced by devastating floods at Minot
Air Force Base in July.
• BFCU employees taught financial classes
on credit at Shreveport Job Corp in July.
• BFCU donated more than 100 fans to
the Bossier Council on Aging to aid
seniors in need during July and August.
• BFCU donated Bags for Caddo Council
on Aging to use for their Meals on
Wheels program July 26.
• BFCU employees taught financial classes
at Martin Community Center for Family
Counseling Aug. 2.
• BFCU was a proud sponsor for the
Bossier Parish New Teacher Luncheon
welcoming all new teachers to our area
on Aug. 3.
• BFCU employees donated more than
200 uniforms to local Bossier Elementary
schools in August.
• BFCU employees collected 856 pounds
of food for the NWLA Food Bank
in August.
• BFCU donated auction items to
Lauren’s Nest Egg for the Renesting
project, which provides furnishings for
those escaping homelessness, for their
fundraising event on Aug. 6.
• BFCU donated auction items for the
Multicultural Center of the South
Fundraiser at the Skybox at
Independence Stadium Aug. 6.
• BFCU sponsored Fort Polk’s
Commanding General’s Golf
Tournament and gave out survival
kits and frozen golf towels to the
players on Aug. 6.
• BFCU sponsored a booth at the
Sportsman Expo at the Shreveport
Convention Center with games and
prizes, including a $50 gift card to
Bass Pro Shops, Aug. 12-14.
Welcome New SEGs
PCA Welding L.L.C., dba Metal
Fusion – Leesville
Westside Booster Club – Rosepine
Norris Memorial COGIC
Ministries – DeRidder
Perfect Paws Daycare – Leesville
Elon Oil Company – Shreveport
• BFCU donated $500 to the Caddo
Firefighter Association Local Chapter
4077 to aid in their fundraising for MDA
during August.
• BFCU sponsored the 2nd Medical
Support Squadron’s Golf Tournament at
Barksdale Air Force Base Aug. 19.
• BFCU raised $13,000 to donate to the
Muscular Dystrophy Association in
September.
• BFCU sponsored a table at the NAACP
Freedom Fund Banquet 2011 on Sept. 16.
• BFCU employees participated in the
NWLA Susan G. Komen Walk/Run for
the Cure on Sept. 17.
BECOME A FAN OF
BARKSDALE FEDERAL
CREDIT UNION BY
CLICKING LIKE ON
OUR PAGE.
BFCU was an Operation A+ sponsor and donated
$500 in school supplies. Employees donated an
additional $200 of supplies for students in need.
BFCU southern region employees volunteered for
Habitat for Humanity in Pineville, LA, Aug. 13.
Rates and Dates
Account
RateAPY*
_______________________________________________________
Prime Savings
0.50%
0.50%
Sp. Purpose Savings
0.50%
0.50%
_______________________________________________________
2701 Village Lane
Bossier City, LA 71112
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 April 12, 2011. Rates
subject to change without notice.
Federally Insured by NCUA
Holiday Closings
Barksdale Federal Credit Union will be closed
for the following holidays:
Christmas
Veterans Day
Dec. 26
Nov. 11
New Year’s Day
Thanksgiving
Jan. 2
Nov. 24
Simplify Your Life
with E-Statements
No more worrying about identity theft
from “dumpster diving” or raiding your
mailbox to get your account information. You can securely view your statements online and avoid the paper trail.
With E-Statements you can:
• Get statements sooner (E-Statements
are available within the first few business days of the new month)
• Sign up to receive an email message
alerting you when your E-Statement is
available
To sign up for E-statements: Log in to
Global Access and click “Other Services” then, click “Enter” under “View
Your Statements Online.” Once you’ve
signed up your paper statements will
stop arriving, and you will receive your
E-statement notice via email. (Be sure
to keep your email address with us
up-to-date.)
Report lost or stolen Credit
cards: 800-543-5073 or
727-570-4881 after hours.
Debit cards: 800-472-3272
or 973-682-2652.
January 2012 will mark the
Grand Opening Celebration
of our newest center – 6790
Pines Road, Shreveport, LA.
Tips for Traveling During the Holidays
If you plan on traveling during the holidays, please give us a call. We can
ensure your Barksdale Federal VISA® credit and debit card are ready for the
trip. Our fraud protection service picks up your out-of-the-area transactions,
and – for your protection – may block further use. To keep this from happening,
let card services know you will be on vacation.
Call 800-647-2328, option 5.
Also, many stores offer a cash-back option if
you use your VISA debit card in a PIN-based
transaction. And, while we recommend
Signature-based transactions to earn your reward
points, this is a great way
to avoid ATM fees if you
happen to be traveling
away from home.