October 2007 - 1st Cooperative Federal Credit Union

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1
MoneyTalk
Federal Credit Union
O
O cc tt oo b
b ee rr 2 0 0 7
We’re branching out
Shared branching
will add convenience
N
o, we haven’t been on a building
spree. We’re getting ready to
join other credit unions that offer
a convenient service called shared
branching.
It means members of 1st Cooperative
Federal Credit Union will soon be able to
walk into any of almost 3,000 credit
union branch locations and access their
account just as if they were at 1st
Cooperative. More than 40 South
Carolina credit union branches are CU
Service Centers for shared branching.
There are even participating branches in
Germany, Italy, Japan, Korea and Puerto 1st Co-op members will soon be able to visit creditunion.net to use the
Rico!
map and directory to find almost 3,000 CU Service Centers.
At CU Service Centers, members will
be able to conduct transaction services, including:
CU Service Centers in South Carolina
• Cashing checks
Look for the CU Service Center symbol, inset below, at
• Making (907) deposits and withdrawals
these South Carolina credit unions:
• Making loan payments
• Carolina Trust FCU -- Five branches in Conway,
• Transferring money between accounts
Johnsonville, Lake City, Myrtle Beach and Surfside
• Purchasing money orders, travelers checks and official
Beach
checks
• Heritage Trust FCU -- Eleven branches in Charleston,
• Obtaining account balances
Goose Creek, Moncks Corner, North Charleston,
Members visiting a shared branch only need to bring:
Mount Pleasant, Summerville and Walterboro
• Their home credit union's name
• SAFE FCU -- Fourteen branches in Bishopville, Camden,
Columbia (2248), Florence, Lexington, Manning, Sumter
• Their account number
and West Columbia
• Valid government-issued (1073) photo identification,
SC Telco FCU -- Seven branches in Columbia,
•
i.e., driver's license or passport
Florence, Greenville, Liberty, Spartanburg and Taylors
"We’ll notify our members as soon as this service
Other participating credit unions include Bayer
becomes available," says 1st Cooperative Vice
Heritage, with branches in Goose Creek and
President/Chief Operating Officer JoAnn Burnside.
Ladson,
Carolina Collegiate, with two Columbia
"Whether we serve you in person, over the phone or
Houston and Truliant FCUs, each with a
branches,
online, we are always happy to help our members."
branch in Greenville, and Market USA in Mauldin.
Dividend
REPORT
$
The Board of Directors declared a
1.75% dividend rate, APY of 1.77%,
for share savings accounts for the
month ending September 30. The
board also declared a 2.25% dividend
rate, APY of 2.27%, for Holiday Helper
Accounts. A dividend rate of 1% was
declared for 1st Choice Checking
accounts, APY of 1%. Dividends were
paid September 30. Dividends are
(3848) based on the credit union’s
earnings at the end of a dividend period and cannot be guaranteed.
as of August 31, 2007
Assets
Shares
Loans
Members
$12,001,368
$10,115,583
$10,064,594
2,368
‘Holiday help’
is on the way
Happy holidays from the
staff at your credit union! To
help you celebrate, Holiday
Helper checks will be mailed
November 1. Members have
the option to have their funds transferred into
their savings or checking account at 1st
Cooperative versus receiving a check. Please
let us know if you’d like to choose this
option.
Meanwhile, the statewide office, including 1st Cooperative, will be closed for
Thanksgiving on Nov. 22 as well as Friday,
Nov. 23. We’ll also be closed (2524) for
Christmas Eve and Christmas Day, as well as
New Year’s Day.
P.S. That’s another good reason to sign
up for online banking, which allows you to
check account balances and transfer funds
between your 1st Co-op accounts 24/7/365
(2858).
Didyou
FIND IT?
Score one for John D. Talley of Blue
Ridge Electric Cooperative. He found
his 1st Cooperative member number
hidden in the July issue of Money Talk.
If you find your number (in parentheses) hidden in this issue, call us by
November 15. We’ll deposit $5 into
your 1st Cooperative account.
Loan Rates
Loan
Type
Effective 10-1-07
Maximum
Term
Daily Periodic
Rates
Annual Percentage
Rate
New Autos
Used Autos
*Any auto loan of $25,000.00 or more
Up to 60 Mos.
Up to 60 Mos.
Up to 72 Mos.
.01712328%
.01712328%
6.25%
6.25%
New Motorcycles
Used Motorcycles
Up to 60 Mos.
Up to 60 Mos.
.0161643%
.0189041%
5.90%
6.90%
New RV/Watercraft/Tractor
Used RV/Watercraft/Tractor
Up to 60 Mos.
Up to 60 Mos.
.0161643%
.0189041%
5.90%
6.90%
New Jet Skis/ATV
Used Jet Skis/ATV
Up to 60 Mos.
Up to 60 Mos.
.0161643%
.0189041%
5.90%
6.90%
New Farm Equipment
Used Farm Equipment
Up to 84 Mos.
Up to 60 Mos.
.0246575%
.0273973%
9.000%
10.000%
12 mos
24 mos
36 mos
48 mos
.0300000%
.0300000%
.0300000%
.0300000%
10.950%
10.950%
10.950%
10.950%
Up to 60 mos.
.0116438%
4.25%
Up to 60 mos.
Up to 60 mos.
Up to 60 mos.
Up to 60 mos.
.0184931%
.0119178%
.0205479%
.0216438%
6.75%
7.00%
7.50%
7.90%
with checking account
.0438356%
.0383561%
16.00%
14.00%
($100.00 - $1000.00)
.0383561%
14.00%
Electronics/Major Appliances
($300.00-$800.00)
($801.00-$1500.00)
($1501.00-$2500.00)
($2500.00+)
Share Secured Advance
Share Certificate Secured
3 mos.
6 mos.
12 mos.
24 mos.
Personal Line of Credit
Overdraft Protection
Type
Rate
Percentage Yield
Regular Share
1.75%
1.77%
Kid’s Club Share
1.75%
1.77%
Holiday Helper
2.25%
2.27%
1st Choice Checking
1.00%
1.00%
$30.00 minimum payment on all loan advances. Rates are subject to change without prior notice.
A late fee of $8.00 will be assessed on all loan payments received 10 or more days after the due date.
ShareCertificate Rates
Term
Minimum
Dividend Rate
Annual Percentage Yield
3 mos.
6 mos.
12 mos.
24 mos.
$500
$500
$1,000
$1,000
4.25%
4.50%
5.00%
5.40%
4.32%
4.55%
5.10%
5.51%
Truth-in-Savings Disclosures, which cover all of the terms and conditions that affect your savings deposits, are available
at the credit union office or are available upon request. Please contact our loan officer for a disclosure request form.
Rates subject to change without prior notice
PRIVACY POLICY AND AGREEMENT
rust is the foundation of our relationship with members. To preserve your
trust, we pledge to protect your privacy by adhering to the practices
described below. By signing any application or agreement with us, or your use or
continued use of any of our services after
receiving this document, you jointly and
severally agree to the terms and conditions set forth in this Policy and
Agreement. In this Agreement the terms,
"we,” "our" or "us" means 1st Cooperative
Federal Credit Union; and the terms "you"
and "your" means all members, consumers, borrowers and guarantors.
1. The Types of Information We
Collect. We only collect information about
our members for lawful business purposes, or as otherwise required by applicable
law. We collect information about members from the following sources: (a)
Applications for services, verifications, current and past employers, other forms and
any communications you send to us
including electronic messages from which we collect your name, addresses,
phone numbers, Social
Security numbers, financial
data, birth date, gender
and other information; (b) Transactions
involving your accounts or services with us
from which we collect information such as
your name, account number, balance, payment history, parties to your transactions
and credit card usage; consumer credit
reports from which we collection information regarding your creditworthiness, credit
history and account activity; and (d) market research firms that provide us with a
variety of information regarding our members such as the number of individuals in
a household. You agree that the telephone numbers, mailing and email
addresses provided in your Membership
Application and Signature Card, or any
other application or communication sent to
us are publicly available and will be used
T
to provide notices, disclosures, statements, other communications (including
but not limited to our responses to your email communications) and offers for certain products or services.
The Credit Union’s Web Site. Use of
our web site or linking to a site we sponsor requires the use of cookies, which are
small pieces of information a web site stores
on a visitor's web
browser to remind the
site about the user the
next time the site is visited. We do not store
confidential or sensitive
information through the
use of cookies. Cookies
help protect the privacy
of a member's transactions by, for example, terminating a session if the member forgets to log out. We
collect e-mail addresses from members
who request electronic services, and from
users of our site who provide addresses.
2. The Types of Information We
Disclose. To benefit our members, we
share the information described in
Paragraph 1, above, within the credit
union (which includes all employees,
directors, agents, volunteers committee
members and field agents), and with certain trusted third parties described in this
paragraph, who are obligated to maintain
the confidentiality and security of your private information. We use the services of
various third parties for processing transactions, using credit cards, checks, debit
cards and making loans, loan underwriting; processing loan applications, appraising collateral and for processing our outgoing mail. We work with companies that
provide financial planning and counseling,
investment services, extended automotive
service contracts, personal and property
insurance, credit counseling, retail auto
sales and travel services to members.
We share this information with Palmetto
Cooperative Services, Inc., a credit union
Notice regarding identity verification policies
The USA Patriot Act, which became law after the attacks on September 11,
2001, is intended to prevent the financing of terrorist organizations. Section 326 of
this Act requires financial institutions such as our credit union to verify the identity
of consumer-members and non-members added as signatories to and have
access to new or existing deposit accounts and loans. We (2982) must also retain
copies of documents used to identify your identity.
If you are a credit union member who joined before the Patriot Act became effective we may also need to verify and retain copies of documents used to verify your
identity when you request a new deposit account, apply for a loan or are added as
a signatory to a new or existing deposit or loan account.
We ask for your understanding as we support these efforts to maintain the security of your funds and our country. Contact us if you have questions.
service organization. This company is
owned by us and other credit unions
through ownership of the South Carolina
Credit Union League. Palmetto
Cooperative Services provides item processing and collection, statement printing, mailing services,
bookkeeping and accounting,
consulting and business development services. We share
information with CUNA Mutual
Groups (CMG), a diversified
financial services company that serves
credit unions and their members. We may
also share information when permitted by
applicable law.
3. Security. We are committed to taking
every reasonable precaution to protect
individual identifying information that you
provide to us. We restrict access to nonpublic personal information to provide
products and services to you. We also
maintain physical, electronic and procedural safeguards that comply with federal
regulations to guard information.
4. Notices and “Joint Relationships.”
Except where expressly required by applicable law, we will provide all notices to the
person (member) listed first on any application, agreement or other document. If
this member has agreed to receive notices
and disclosures electronically, then we can
send all such notices and notifications, to
the e-mail or Internet addresses provided
by said person. Joint owners, borrowers
and guarantors agree to the receipt and
sufficiency of any notice or notification
sent according to this paragraph.
5. Modification. The credit union
reserves the right to modify, change or
amend this Privacy Policy and Agreement
at any time without notice other than as
expressly required by applicable law.
6. What Members Can Do to Help.
Protect your account numbers, card numbers, PINs (personal identification numbers) and passwords. In particular, never
keep your PIN with your debit card or
credit card, as that makes you vulnerable
in the event you lose your card or your
card is stolen. Use caution in revealing
account numbers, Social Security numbers, etc., to other persons. In particular, if
a caller tells you he/she is calling you on
behalf of the credit union and asks for
your account number, beware. Legitimate
credit union staff would already have
access to that information. It's important
that the credit union has current information about how to reach you. If we detect
potentially fraudulent use of your account,
we will attempt to contact you immediately.
If your address or phone number (3494)
changes, let us know.
Got $5,000?
Directory
Make it grow with a share
certificate of deposit at a
really great rate
1
st Cooperative is offering a great
rate for members on share certificates of deposit (CDs).
For this special offer, nine-month certificates opened with a minimum deposit
of $5,000 can earn a dividend rate of
5.25% with an annual percentage yield
(APY) of 5.29%. Once the certificate
(428) matures, it will renew as a sixmonth certificate with the current rate
st
1 Contacts
For more information on 1st Cooperative
services, see the Credit Union Contact
at your office:
AIKEN Donna King
BERKELEY Butch Evans, Trena Nelson,
Stephanie Van Cleve
BLACK RIVER Tammy Wise
BLUE RIDGE Andrea Griffin
BLUE RIDGE (Oconee) Susan King
BROAD RIVER Tina Rodgers
CENTRAL Tina Smedes
COASTAL Janice Avant
CEE-US Reba Sandel
EDISTO Margaret Lynn Morrell
FAIRFIELD Beth Mason
HORRY Heather Johnson
LAURENS Lillie Calwise
LITTLE RIVER Sue Burton
LYNCHES RIVER Deborah Sullivan
MARLBORO Jean Evers
MID-CAROLINA Jo Ann Busbee
NEWBERRY Linda Lever
PALMETTO Tanya Trull
PALMETTO (Hilton Head, New River)
Georgia Vido, Jane Frederick
PEDCO Tina Smedes
PEE DEE Karen Weatherford
SALUDA RIVER/NEW HORIZON
Maria Kennedy
SANTEE Cheryl Wrenn
TRI-COUNTY Linda Wright
YORK Karen Wyatt
BOARD OF DIRECTORS
David Felkel, Chairman
Mark Connor, Vice Chairman
Judy Weaver, Treasurer
Stan Williamson, Secretary
Linda Wright
Shirley Huff
Theresa Crepes
for six months. Rates are subject to
change at any time and a penalty, which
will affect yield, will be imposed for
early withdrawal.
Saving with your credit union is
always a good investment. Need proof?
We checked bankrate.com for the rates
for comparable nine-month CDs offered
by banks around the nation as of
September 20. The top rate we (601)
found was 5.21% with an APY of
5.35%, while another bank was offering
4.48% and 4.58% APY. So, once again,
1st Cooperative beats the banks.
Don’t miss out. Call us at (803) 7960234 for details.
SUPERVISORY COMMITTEE
Tony Fogg
Betty Welsh
David Collins
CREDIT UNION STAFF
Mike Couick, President
Jo Ann Burnside, Executive Vice
President/Chief Operating Officer
Gloria Rogozinski, Loan Officer
Please welcome
our new
loan officer
Gloria Rogozinski has joined 1st
Cooperative Credit Union’s staff as
loan officer.
Gloria was
previously a
loan officer
and member
service specialist with
Carolina
Collegiate
Gloria Rogozinski
Federal Credit
Union. Prior
to joining Carolina Collegiate in 1997,
she worked for Provident Savings
Bank in Bayville, N.J. for nine years
and at Carteret Savings Bank in Toms
River, N.J. for seven.
Please join us in welcoming Gloria
to our electric cooperative family.
Angie Nieman, Member Services
Representative
st
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Federal Credit Union
808 Knox Abbott Drive
Cayce, South Carolina 29033
803-796-0234
Fax 803-926-3177
OFFICE HOURS
8:30 a.m. - 5:00 p.m.
Monday - Friday
www.1stcooperative.org