Newsletter - Barksdale Federal Credit Union

Volume 62 | No. 3 | July 2016
MEMBERSHIPMATTERS
P2 | Tips to Lower Cooling Costs
P4 | Coordinating the Timetable When Buying and Selling a Home
P5 | Saying “I Do” to Home Ownership
P6 | Mortgages from Your Local Lender
www.bfcu.org | 800-647-2328
2 | www.bfcu.org
INSIDE
THIS ISSUE
The Heat Is On:
Tips to Lower Cooling Costs.......................2
CEO Message.............................................3
Coordinating the Timetable When
Buying and Selling a Home..........................4
Love Your Savings.......................................4
Directors’ Corner
Saying “I Do” to Homeownership:
How to Prepare for This Big Commitment....5
Mortgages from Your Local Lender..............6
Community News........................................7
Rates and Dates..........................................8
The Heat Is On: Tips to
Lower Cooling Costs
As temperatures soar this summer, use these tips to stay comfortable
without letting cooling costs go through the roof.
• Use fans. If you have air conditioning, using a ceiling fan allows you
to raise the thermostat setting about 4 degrees with no reduction in
comfort.* Other fans also help and use little energy. Be sure to turn
them off when you leave; fans cool people, not rooms.
• Avoid heat buildup. Don’t leave incandescent lights on – most of
the energy they use is given off as heat. You can avoid heat from the
dishwasher and clothes dryer by hand washing dishes and air drying
clothes. Cook with a microwave or outdoor grill to avoid heat from
the oven.
• Clean or replace air conditioning filters. You should do this at
least once a month. Be sure coils on the exterior unit are free of dirt
and vegetation.
• Be economical with air conditioning. Set the thermostat at the
highest comfortable setting. When returning to a hot home, don’t crank
the thermostat to a colder-than-normal setting. It won’t cool your home
any faster.
If you’re ready to install central air conditioning, find out how a home
equity loan from Barksdale Federal can help make it affordable. Call us
at 318-549-8170 or visit www.bfcu.org.
* Source: Department of Energy.
Barksdale Federal Credit Union Financials
May 2015
May 2016
____________________________________________________________
Loans
$582,380,275$632,226,679
Assets
$1,207,480,629$1,249,215,690
Deposits
$1,083,245,735$1,119,122,475
Reserves
Members
$119,264,355$123,444,600
116,326119,979
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). CO-OP shared branches can
be found at www.co-opsharedbranching.org.
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. Websites not belonging to this organization are provided for
information only. No endorsement is implied. Images may be from ©iStock
and/or ©Fotolia. ©2016 Bluespire Marketing | bluespiremarketing.com
Welcome New SEGs
• Brookdale Senior Living
Center of Shreveport
• Precision Property
Maintance of Anacoco
• Bullseye Shooting Range
of Leesville
• Professional Line Striping
of Shreveport
• Leesville Dry Cleaners
of Leesville
• River City Tint of Bossier City
• Namaste Massage and
Bodywork of Leesville
• Precision Mechanical
Services of Bossier City
• RJ Williams Trucking, LLC
of Leesville
• Tree Health Lady of
Bossier City
Your Financial Partner for Life | 3
Home Sweet
Home
edition of Membership Matters
J uly’s
is all about the home. From tips to
managing cooling costs to our very own
employees volunteering their time to paint
a home within one of our communities,
this edition should get your thoughts
stirring about your own living space.
Have you been thinking about buying
or building? Have you always wanted to
remodel your kitchen? Are you wondering
how to save on different housing expenses?
Barksdale Federal is here to help our
members. We’ve even included additional
member discounts to help you with your
home. (See page 4 to save on services for
your home from ADT, DIRECTV and
more.)
So where do you begin? First, get in
contact with one of our top-notch Home
Lending Consultants (HLCs). If you live
in the Shreveport/Bossier area, you may
have seen their smiling faces on billboards
BFCU Members
could save even
more with a special
discount on auto
insurance!
and broadcasted on local news station
home show interviews. If you live throughout the state of Louisiana, you may have
even seen them on cable TV. (Or you can
turn to page 6 and see their smiling faces
right now.) Those individuals start the
process for you. They’ll ask you a couple
of questions to better understand your
home goals. Based on your objectives
and needs, they will get you into the right
home lending product.
Call one of our Home Lending Consultants
(HLCs) today so they can get to know you
better and assist with your living space goals.
I think you will be pleasantly surprised.
Sincerely,
Rod Taylor
CEO of Barksdale
Federal Credit Union
geico.com/cu/BarksdaleFCU
1-800-368-2734
Local Office
Some discounts, coverages, payment plans and features are not available in all states or all GEICO
companies. GEICO contracts with various membership entities and other organizations, but these
entities do not underwrite the offered insurance products. Discount amount varies in some states.
One group discount applicable per policy. Coverage is individual. In New York a premium reduction
may be available. GEICO may not be involved in a formal relationship with each organization; however,
you still may qualify for a special discount based on your membership, employment or affiliation with
those organizations. GEICO is a registered service mark of Government Employees Insurance Company,
Washington, D.C. 20076; a Berkshire Hathaway Inc. subsidiary. GEICO Gecko image © 1999-2016.
© 2016 GEICO
On June 4, 2016, Barksdale Federal
held a Barksdale Buddy Bash at Splash
Kingdom Water Park. The event was held
to celebrate our Barksdale Buddy savers.
We had a fun-filled day with food, prizes
and water splashes! We had a successful
turnout with over 350 in attendance.
We loved spending the day with our
youngest members!
BFCU employees working the
Buddy Bash admission line.
Buddy and Nancy, BFCU
employee.
Buddy the Dalmatian with Splash
Kingdom’s Smiley the Shark!
4 | www.bfcu.org
Coordinating the Timetable When
Buying and Selling a Home
I
s it better to sell your current home
before buying a new one or should you
buy first and sell later? Is it possible to do
both at the same time? Deciding how to
go about the transition can be challenging, and there are a number of factors to
consider. Here are some pros and cons to
help you weigh your options.
Sell First, Buy Later
Pros:
• You’re at no risk of being stuck with two
mortgage payments.
• Equity from your home sale puts you in a
better position to buy.
Cons:
• You may need to find interim housing
and storage, which can be costly.
• If you’re not comfortable in temporary
housing – perhaps you’re staying with the
in-laws? – you can feel pressure to settle
for a new home that is less than ideal.
Love Your Savings
Buy First, Sell Later
Pros:
• You won’t have to worry about
finding interim housing.
• You can take all the time you need
to find the perfect new home.
Cons:
• You may need to borrow money
for a down payment (if your
lender allows it), and you risk paying
two mortgages if you don’t sell your
current home quickly.
• You’ll be more likely to settle for the first
offer you receive on your house, which
could be less than your asking price.
Buying and Selling
Simultaneously
Pros:
• If you get the timing right, your move
into your new home may be seamless.
• You won’t have to worry about paying
for storage or interim housing.
Cons:
• It can be difficult to line up closing dates.
• Contingency agreements – asking the
seller to make your purchase contingent
upon sale of your current home or asking the buyer of your current home to
make the purchase contingent upon your
finding a new home – are common, but
complicated, and may make your offer
less desirable in a competitive market.
Is a new home in your future? Get
pre-approved for a mortgage loan from
Barksdale Federal to increase the chances
of your bid on a new house being accepted.
Everyone is looking for ways to save money, and that’s just
what Love My Credit Union Rewards is all about.
• Earn cash back when you shop at over 1,500 online
retailers with Love to Shop
Barksdale Federal Credit Union is excited to offer you
exclusive discounts and benefits on products and services
you use every day. Credit union members have already
saved over $1.6 billion with Love My Credit Union Rewards
discounts. So along with lower loan rates and fewer fees,
here’s another way you can save even more.
The more offers you take advantage of, the more you save.
Start saving today at LoveMyCreditUnion.org.
• Receive a 10 percent discount (business members a
15 percent discount) on select regularly priced Sprint monthly
data service. Valid in conjunction with other credit union and
most Sprint National handset offers and promotions
• Get safety and security of roadside assistance and more for
less than $1 per week* with CU Road Pal
• Save up to $15 on TurboTax federal tax products
• Save on services for your home from ADT, DIRECTV, Allied
and more
* Based on individual roadside assistance plan
Your Financial Partner for Life | 5
Directors’ Corner
Saying “I Do” to
Homeownership:
How to Prepare for This
Big Commitment
B
uying a home is a major commitment. It’s a bit like, well, getting
married: You’ve got to be ready and you have to find the right
“one.” And, like a marriage, homeownership is a dynamic experience that requires a tremendous amount of care and attention.
If you are ready to shift from renter to buyer, you’ve got some
legwork to do. Here’s how to prepare:
Credit Matters
Quite simply, the past can either haunt or help you. If your debtto-income ratio is too high, financial institutions will likely be
wary of extending you another loan. If you have had problems
repaying past obligations, a lender will have trouble trusting that
you will pay your mortgage on time.
You can increase your FICO score (a credit scoring model that helps
lenders assess risk) by reducing debt, making timely payments, not
shopping aggressively for credit, having a variety of credit instruments, and keeping at least one credit card for a long period of time.
Significant improvements can be made in as little as six months.
Understand What You Can Afford
Most lenders require that total housing costs not exceed 28 percent
of gross monthly income, and total debt payments per month
(including the mortgage) not surpass 36 percent. In real terms,
this means that if you owe no consumer debt and have an annual
household income of $75,000, then $1,750 in monthly housing
costs is within your range.
Accumulate Cash
If you don’t have at least some cash in your coffer, start a savings
plan now. How much you will need depends on many factors,
including the home price and how much you will put as a down
payment. Closing costs, points, moving expenses and a postpurchase reserve fund of two to three months’ worth of housing
payments can add up to many thousands of dollars.
Board of Directors: (Back row) Arno Easterly, Keith Fontenot,
Al Oar, Bernie Hawk. (Front row) Roy Walling, Virgil Barnette,
Charleene Ringler.
Plan for Remodeling
Once you own your home, you may eventually want a bigger or better living space. Rather than purchase a new residence, first consider
remodeling. You can add rooms and customize your home to meet
your needs and desires without having to move. Yet while remodeling
can be wise, it can also be stressful and expensive. Be careful when
hiring someone to do the work for you.
So how are you going to pay for those fabulous improvements? There
are three basic options: cash, refinancing and using home equity.
• Cash: If the job is small or short term, paying with cash is often
the best method. A nice advantage of using savings is that you
won’t have to repay a loan for the work that is done. When
using cash, be sure to pay in agreed-upon increments.
• Refinancing: Swapping a higher interest mortgage for a lower
interest one can free up money for the project. You can refinance
your existing mortgage and take all or part of your current equity
in cash. Keep in mind though, that it will only be cost effective if
you plan on remaining in the home long enough to recoup the
closing costs and other fees associated with refinancing.
• Home equity: Using home equity can be a great way to make
major improvements – and get a tax benefit of interest deduction at the same time.* To tap into your home’s equity you can
get a conventional second mortgage, a home equity loan or a
home equity line of credit. Second mortgages and home equity
loans are best for large, long-term projects that require lump
sum payments, while home equity lines are good for short-term
projects or those requiring incremental payments.
Finally, remember that home is not only where the heart is – it is
also where the money is. You can get the most from your relationship with real estate by giving it the time and attention it requires,
just like a marriage.
* See your tax advisor for deductibility in your situation.
6 | www.bfcu.org
Mortgages from Your
Local Lender
B
arksdale Federal Credit Union is your home loan
headquarters. For qualified members, a Barksdale Federal
home loan is fast, easy and convenient. We offer fixed-rate and
adjustable-rate loans with terms to fit your needs.
Mortgage Services Offered by BFCU
• FHA, VA and Conventional Loans
• Refinance
• Interim/Permanent Construction
• Second Mortgage Refinance
• Home Equity Line of Credit (HELOC)
• Land Loan
Becoming a homeowner comes with a lot of responsibility, but
also a lot of rewards. Barksdale Federal wants to help you along
the way. Whether you decide to build or buy your dream home
or even if you have outgrown your current home BFCU has
options for you. Before you start shopping for a new home, visit
with one of Barksdale Federal’s Home Lending Consultants
(HLC) and get pre-qualified for your home loan. You’ll be able to
shop for a new home in the price range that best fits your budget.
Call 800-647-2328, option 8, to visit with an HLC today.
HLC Locations
• Mortgage Center
318-549-8170
720 Northgate Rd., Bossier City, LA 71112
• Airline Center
318-549-8192
2321 Airline Dr., Bossier City, LA 71111
• Alexandria Center
318-427-1284
3500 Jackson St., Alexandria, LA 71303
• Eastbank Center
318-549-8176
1560 E. 70th St., Shreveport, LA 71105
• Deridder Center
337-238-2401
1995 N. Pine St., Deridder, LA 70634
• Leesville Center
337-238-2401
604 S. Sixth St., Leesville, LA 71446
BFCU employee Missy Campbell working with members Mr. & Mrs. Roark
First of all we would like to say that from the very beginning of
our journey with BFCU, we have been treated with respect and
as though we mattered. Everyone we have dealt with has been so
personable, and we feel like we have a relationship with them and
we are not just another number in the system.
The mortgage process can be a very unpleasant experience, however, this was not the case with BFCU and Missy Campbell. From
the very first time we met Missy, we felt like we had known her forever. She is very personable and makes you feel very comfortable.
She told us what she needed from us and we were very quick to get
it to her. As soon as she had what she needed to start the process,
she went to work for us. She stayed in touch with us via email or
phone along the way, keeping us informed of the status. Missy even
came to closing to support us.
We cannot say enough good things about BFCU in general. No
matter which branch we go to, we are always greeted by a pleasant
person who soon knows us when we come in. If you are looking to
buy a home or refinance your current home, we highly recommend
BFCU. You will be very pleased.
– Mr. & Mrs. Roark
BFCU Home Lending Consultants,
Left to Right: Cynthia Gonzalez,
Colette Delaney, Cathy Newman,
Ronda Arden, Gary Hairston,
Missy Campbell.
Your Financial Partner for Life | 7
BFCU Community News
We wish we had room to list all of the community events –
thank you for letting us be your community partner!
1 Barksdale Federal visited with employees of TriState. BFCU employees taught
about financial security.
13 BFCU employees prepared and served
lunch to Leesville High School’s teachers
and staff to show our appreciation as
Partners in Education.
5 Employees participated in the American
Heart Association Cenla Heart Walk in
Alexandria and raised $791 for the cause.
16 Employees assisted 363 neighbors in
protecting their identities with our annual
Shred Day!
5 BFCU sponsored a Veterans Lagniappe
Extravaganza in Pineville in which Veterans were provided with valuable information on home buying. BFCU provided
Home Lending Consultants, Managers
and Financial Service Reps to assist.
21 Staff helped the employees of Margaritaville find their way to financial stability
with Barksdale Federal Credit Union.
March
7 BFCU renewed our pledge to the Barksdale Airmen with our annual donation.
11 BFCU sponsored the Louisiana
Association of Business Educators Annual
Conference and was present with account
information and door prizes.
15 Barksdale Federal employees taught
15 students at Caddo Career Center
about budgeting.
19 Barksdale Federal sponsored the
Slowrollers Gatorama event to benefit the
Agape Clinic in Deridder.
31 BFCU employees raised $1,216 for
St. Jude’s Children’s Research Hospital.
April
2 BFCU sponsored the 4th Annual BAFB
Mud Run, allowing the community to
compete in a 3.9-mile military-style
obstacle race.
7 Employees attended the Evergreen Life
Services Dinner to benefit individuals
with disabilities so they may live the lives
they choose.
9 BFCU sponsored and was present to assist
at the Vernon Chamber of Commerce
Military Affairs Committee Crawfish Boil for
soldiers and their families.
21 BFCU Employees attended the Junior
Achievement ROI Showcase to help other
community partners see the value of
volunteering in our local schools.
27 BFCU sponsored the Wounded War
Heroes Annual Fishing Tournament by
providing a meal to over 50 wounded
soldiers.
29 BFCU employees raised $500 for the
American Cancer Society Relay for Life in
Alexandria and participated in the walk.
9 Employees volunteered for Junior
Achievement at Benton Middle School to
teach local children about their roles in a
progressing society.
14 BFCU employees provided fun games
for soldiers and their families at Fort Polk’s
Rock the Summer Event.
17 As a sponsor of KTBS’ One Class at
a Time, BFCU presented Ms. Prock at
Waller Elementary a grant as she develops
the school’s first archery program.
20 Staff was present with door prizes and
lemon meringue pie at Fort Polk’s Spouse
Appreciation Day to show our appreciation
for all that they do!
25 BFCU celebrated the opening of
our newest location at the Ellerbe Road
Grand Opening.
26 Bossier Chamber of Commerce’s Golf
Tournament – Staff showed their support
for the BCOC as they unite the city towards
the growth of Bossier City.
27 BFCU attended the BAFB Pool Bash.
This party is held each year to kick off the
summer and the opening of the base pool.
30 Staff worked to promote innovation in
learning through technology by supporting
the WT Lewis 5th Annual Bulldog Bolt
5K / 10K Race.
May
1 Barksdale Federal sponsored Sacred
Heart Catholic Church’s Annual Spring
Festival by providing a door prize for their
auction in Oakdale.
2 CABOSA/Shreveport united Soccer
Club – Ensuring the resources needed to
continue soccer programming in Caddo
and Bossier parishes.
5/14 Paint Your Heart Out Shreveport Painted 2 homes for
our elder neighbors in the Hollywood Heights subdivision.
5 BFCU was present at Allen Council on
Aging’s Health Fair in Oberlin to provide
information on accounts and identity theft
to local seniors.
6 BFCU provided and served a meal to
approximately 100 teachers at Rosepine
Elementary for Teacher Appreciation Week.
5/13 Employees raised $360 and participated in the Vernon
Relay for Life Walk to benefit the American Cancer Society.
Rates and Dates
Account
RateAPY*
_______________________________________________________
Prime Savings
0.25%
0.25%
Sp. Purpose Savings
0.25%
0.25%
_______________________________________________________
2701 Village Lane
Bossier City, LA 71112
318-549-8240
www.bfcu.org
Children’s Savings
0.25%
0.25%
Christmas Club
1.50%
1.50%
_______________________________________________________
IRA Prime Savings
0.25%
0.25%
Regular Checking
0.10%
0.10%
_______________________________________________________
Plus Checking
High Five Checking
0.20%
0.10%
0.20%
0.10%
* Annual Percentage Yield.
Rates effective November 5, 2014.
Rates subject to change without notice.
Federally Insured by NCUA
Holiday Closings
Barksdale Federal Credit Union will be closed
for the following holidays:
Labor Day, Sept. 5
Columbus Day, Oct. 10
Report lost or stolen Credit
cards after hours: 800-543-5073
or 727-570-4881. Debit cards:
800-472-3272 or 973-6822652.
The Nominating Committee
has been appointed and
will submit their report by
Sept. 2, 2016.