April 2015 - Accentra Credit Union

The 85th Annual Meeting of Accentra Credit Union will be held in April of this year. The
hundreds in attendance will receive the Annual Report which highlights the successes of
2014 as well as the goals and initiatives for 2015. In this newsletter I will touch on some of
the information that will be shared during the Annual Meeting.
Accentra Credit Union experienced strong growth in total loans during 2014. Total retail
loan production was over $40 million, which is the largest year of production and resulted in
a year over year loan growth of $5.5 million. Indirect loans continued to grow in popularity
for our members. These are loans that are originated directly through automobile and
recreational vehicle dealerships. This lending channel provides members with greater
convenience when obtaining a loan with Accentra. Indirect loans increased by 38% in 2014
to a total production of $13 million.
Total assets continued to see steady growth in 2014. We ended the year at $114 million in
assets, which is a growth of over $2 million. Net income also improved to $350,868, which
is a 35% increase from the prior year. We launched our U-Choose rewards program in
2014. The rewards program allows members to earn points as they use their Accentra Visa
credit or debit cards. The rewards program is another way we continue to bring greater
value to our members.
Accentra has made a commitment to provide the latest in banking technology. Our online
banking channel will be upgraded in 2015, providing enhancements for the over 4,000
users of this service. Our recently launched mobile banking already has over 2,000
registered users and provides even greater convenience. Our bill pay service and electronic
statements are other ways to increase security on your accounts and can save you time
and money. If you have not yet tried these new electronic services, I invite you to stop in or
call our offices to see all we have to offer.
2015 has your Accentra team looking both internally and externally to find ways to improve
and grow your credit union. The goal is to continually improve our service level and to
provide our staff with the best tools and environment which allows them to be successful.
Providing exceptional service and offering a wide breadth of products will allow Accentra to
continue to grow in the markets we serve. For 85 years Accentra has experienced strong
growth in the Austin market. The Albert Lea market has seen good growth over the past 9
years and the Albert Lea branch is positioned for even greater growth going forward. Our
membership in the Rochester area continues to grow as our expanding electronic services
makes doing business with us easier and more convenient.
Thank you for choosing Accentra Credit Union as your financial partner. Whether you are in
Austin, Albert Lea or one of the many other communities we serve, we appreciate your
business. We have member accounts that have been with us for over 80 years and other
members who just joined yesterday. Accentra Credit Union continues to grow as we remain
focused on helping the members with all their financial needs.
- Paul Knorr
Need Extra Money for a Summer Vacation?
If your answer is yes, you may want to take advantage of our Vacation Skip-a-Payment
offer. If you qualify for this option, you will be receiving a letter inviting you to skip your June
loan payment. This offer is limited to consumer loans and excludes real estate loans.
Many of our members look forward to skipping their June payment giving them more money
to spend for summer vacation. Watch for your Skip-a-Payment letter which should arrive
around the beginning of May.
Children's Miracle Network
Fundraising Cookouts
Hospitalized kids need our help. Your Credit
Union participates in a statewide campaign
called Credit Unions for Kids that helps
Children's Miracle Network Hospitals.
Money raised is used to treat children with
many medical challenges from birth defects
to cancer.
Be sure to mark your calendar for July 1st
and 2nd and join us for Spamburgers and
hot dogs. Schwan's ice cream bars will also
be available. We will hold a second
fundraiser cookout in August. Plan to attend
and support our fundraising efforts to help
kids being treated at Gillette Hospital in St.
Paul.
Coindexter to be Discontinued
Effective April 11, 2015, Accentra's
Coindexter program will be discontinued.
This program was intended to provide a
benefit to our youth members however,
we found that very few members used
Rochester Area Members:
We Need Your Feedback!
In an effort to better serve all of our
members, we are working on gathering
feedback from our members in the
Rochester area.
the program, and member feedback has
suggested that most members found the
program of little value.
We will continue to look for other ways to
enhance the services we provide to our
youth members and we apologize for any
disappointment this may cause.
If you have a Rochester zip code and would
be willing to complete this survey, we would
appreciate your input! It should only take
you a few minutes to complete.
As always, if you have any suggestions,
comments, or concerns for the Credit
Union, please email them to
[email protected].
Protect Your Auto Investment with
Mechanical Breakdown Protection
and
GAP
Expensive repair bills can leave you stranded financially unless
you have an extended service plan. Accentra offers this valuable
protection at just a fraction of what you could pay elsewhere.
Mechanical Breakdown Protection Benefits:
•
•
•
•
•
Competitively priced coverage for new and used vehicles with low or no deductible
Cost can be financed into your loan payment
Repairs authorized at any licensed facility in the US and Canada
Claims paid directly to the repair facility
Additional benefits include 24 hour emergency roadside assistance, towing
reimbursement, lock out service, rental car assistance and much more
• Coverage may be cancelled at any time for any reason
GAP protects you when your insurance company leaves you short
Without GAP if you have an auto loan balance of $18,000 and you total your car that is only
worth $15,000, you'll still owe $3,000. If you have GAP you'll owe nothing. In addition,
Accentra is the only financial institution in our area that includes ADR (Auto Deductible
Reimbursement) as a part of our GAP offering. With ADR you'll receive up to $500 twice a
year for the first three years of your contract for repairs due to an accident on any vehicle
you own.
Please contact a Financial Services Representative today to learn more!
PLAN
THE ATTENTION
IT DESERVES.
Contact us for a con1plin1entary
consultation or second opinion
-with no obligation.
Specializing in:
Mutual Funds • Unit Investment Trusts
Fixed &Variable Annuities • Stocks
Bonds • Life Insurance • Long-Term
Care Insurance • IRAs
Jay Braaten, ChFC
Financial Advisor
Investment Servi ces
507-434-3334
400 Fourth Ave. NE • Austin, MN 55912
Memorial Day - Monday, May 25
Independence Day- Friday, July 3 and Saturday, July 4
--- ..
r----
Address Change Request
Date of Change: _ _ _ _ _ __
Account Number: - - - - - - Name:_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __
Signature: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __
New Address: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __
Email Address: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __
Work Phone: _ _ _ _ _ _ _ _ Cell Phone: _ _ _ _ _ _ __
We canno.t accept copies of this form that are sent online or faxed. We can only
accept original, signed Change of Address forms .
L--------------------------~
Accentra Credit Union
Austin
Albert Lea
400 4th Avenue NE, PO Box 657
Austin, MN 55912
1 619 Blake Avenue
Albert l ea, MN 56007
1507) 433-1829 or 1800) 533-0448
Fax: 1507) 434-3300
1507) 373-6500
Fax: 1507) 373-6555
lobby Hours
Monday- Friday: 8:30am to 5:00pm
lobby Hours
Monday- Friday: 8:00am to 5:00pm
Saturday: 8 :00am to 12:00pm
Drive Up
Monday - Friday: 7 :30am to 5:30pm
Saturday: 8:00am to 12:00pm
Drive Up
Monday- Friday: 8 :00am to 5 :00pm
Saturday: 8:00am to 12:00pm
ATM Locations
Accentra CU Austin
400 4th Ave NE
Accentra CU Albert lea
1619 Blake Ave
Email
VISA
[email protected]
Account information or
24-hour emergency number
for lost or stolen cards:
Call-24
1507) 434-3310 or
1888) 564-7207
Hormel Corporate Austin Hormel
Office North
Plant
888-776-8615
G:t
LENDER
Federally Insured by NCUA
Rev. December 2010
WHAT DOES ACCENTRA CREDIT UNION DO WITH YOUR PERSONAL
INFORMATION?
Financial companies c.hoose how they share your personal infonnation. Federal law gives consumers
the right to limit some but not all sharing. Federal law also requires us to tell you how we collect,
share, and protect your personal information. Please read this notice carefully to understand what we
do.
The types of personal information we collect and share depend on the product or setv ice you have
with us. This information can include:
• Social Security number
• Transaction history
• Account balances
• Mortgage rates and pa ymen ts
• Payment history
• Checking account infonnation
When you are no longer a member, we continue to share your information as described in tlus notice.
.A.Jl fmancial companies need to share members' personal information to mn their ever yday business.
In the section below, we list the reasons financial companies can share their members' personal
infOtmation; the reasons Accenb·a Credit Union chooses to share; and whether you can limit tllis
sharing.
Reasons we can share your personal information
Does Accentra Credit
Union share?
Can you limit this sharing?
]<"or our everyday business purposes such as to process your transactions, maint.:1in your
account(s), respond to comt orders and legal
investigations, or rep01t to credit bureaus
Yes
No
For our m arketing purposesto offer our products and services to you
Yes
No
For j oint marketing with other lina ncial companies
Yes
No
For our affiliates' everyday business purposes infom1ation about your transactions and experiences
No
We don't share
For our a ffiliates' everyday business purposes information about your creditworth iness
No
We don't share
We don't share
PRIV-MOOEL 8/112010
P~ 1 or 2
~~~~~~~=================================
What We Do
How does Accentra Credit
Union protect my personal
in form alion?
To protect your personal infmmation from unauthorized access and use, we use
security measures that comply with federa l law. These measures include computer
safeguards and secured files and buildings.
We also maintain other physical, electronic and procedural safeguards to protect
this infonnation and we limit access to infonnation to those employees for whom
access is appropriate.
How does Accentra Credit
Union coiled my personal
information?
We collect your personal infotmation, for example, when you
• Open an account
• Give us your contact information
• Deposit money
• Provide your mortgage information
• Provide account infonnation
We also collect your personal information from others, such as credit bureaus,
affiliates, or otl1er companies.
Why can't I limit all sharin g?
Federal law gives you the right to limit only
• sharing for affiliates' everyday business purposes - infonnation about your
creditworthiness
• affiliates from using your infonnation to market to you
• sharing tor nonaffiliates to market to you
State laws and individual companies may give you additional right<> to limit sharing.
See below for more on your right<> under state law.
Definitions
Aflili ates
Companies related by common ownership or control. They can be fmancial and
non-financial companies.
• Accentra Credit Union does not share with our affiliates.
Nonaflilia.t es
Companies not related by common ownership or control. ·n 1ey can be financial and
non-fmancial companies.
• Accentra Credit Union does not share with nonaffiliates so they can market to
you.
J oint Marketin g
A formal agreement between nonafftliated fmancial companies that together market
fmancial products or services to you .
• Our joint marketing partners include CUNA Mutuol
Other Important Information
For Alaska, Illinois, M aryland and North Dakota Members. We will not share personal information witlJ
nonaffiliates either for them to market to you or for joint marketing - without your authorization.
For California Mem her s. We will not share personal infonnation with nonaffiliates either for them to market to you or
for joint marketing- without your authorization. We will also limit our sharing of personal infonnation about you with
our affiliates to comply with aU California privacy laws that apply to us.
For Ma.,sachusetts, Mississippi and New Jersey Mem her s. We will not share personal information from deposit or
share relationships with nonaffiliates either for them to market to you or for joint marketing - without your authorization.
For Vermont Member s. We will not share personal information witl1 nonafftliates either for them to market to you or
for joint marketing- without your authorization. and we will not share personal infonnation witl1 affiliates about your
creditworthiness without your authorization.
Copyright Accentra Credit Union 2015
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