November 2013 - Whatcom Educational Credit Union

wecu news
www.wecu.com
Whatcom Educational
Credit Union
November
2013
Why Credit Unions are NOT
the Same as Banks
When you walk into our lobby, or call a loan officer, what makes WECU® different from a bank
isn’t immediately apparent. The two financial institutions may offer similar products and services but the similarities stop there. Crucial differences exist - in structure, in cost of borrowing
money, and in use of services.
Credit unions are member-focused non-profit financial cooperatives dedicated to improving
members’ lives. More than 95 million members are part of 7,100 U.S. credit unions with combined assets of $1.02 trillion.
Credit unions are the only democratically controlled financial institutions in the United
States. You and other members elect a volunteer board of directors to oversee the credit union.
The manager or president/chief executive officer reports to this board. Bank directors, however,
are paid and legally bound to make decisions that benefit stockholders.
Credit unions have the best rates. Credit unions price loans, pay interest on funds you’ve
deposited, and charge fees to provide you with high-quality, low-cost services. Banks price products, fees, and services to make a profit. At credit unions, money market, savings, and interest
checking accounts carry higher rates - giving back more to members. Interest rates on credit
cards average three percentage points lower than bank rates, and auto loans average about one
and one-half percentage points lower than bank rates. Credit unions make consumer loans and
member business loans.
Credit unions educate members about money matters. They provide publications to keep you
advised of rates, loan sales, and financial trends that affect you. WECU® stresses education,
providing materials and holding seminars on financial planning as well as car and home buying
to help you make informed buying decisions.
Because you’re a member of WECU® you have a say in how we do business. We are always open
to feedback about how we’re doing, and the products or services you would like us to provide
or improve. Our Online Banking is a great
example! By member request, a brand new
Online Banking experience is headed your
way with more features than ever before. Visit
www.wecu.com for more information.
we c u news & not e s
w ec u new s & not es
social responsibility
Employee of the Quarter
Milestone Anniversaries!
Getting Casual for a Cause!
Congratulations to Tyson geBauer
who has been selected as the Employee of the Third Quarter for
2013.
In the fourth quarter of 2013 we celebrated five milestone
staff anniversaries! Senior Vice President Kathleen Gavin,
EFT Specialist Thanh Larson, and Intranet Administrator
Kevin Parris all celebrated 20 years at WECU®! In addition
Administrative Assistant Glenda Burgers celebrated her 15
year anniversary, and Consumer Support Clerk Amanda
Cook celebrated 10 years!
WECU® regularly rewards our hardworking staff members who make a donation to a non-profit with a “Jeans
Day.” In addition to our Friday Do Good, Feel Good
campaign jeans days, our Sweat Equity Team (SET) occasionally uses ‘donate to wear jeans’ days to raise funds
in support of non-profit organizations.
Tyson has been recognized by his
peers and management for being an “amazing person
who always has a great, helpful attitude.” Many staff
singled out Tyson’s efforts in “[making] the big move
to Meridian Center smooth and easy” and “without
upsetting any departments who were being moved.”
Tyson “is simply AWESOME! He’s always positive and
helpful. He represents WECU® and the IT Department
wonderfully.”
Update to Rate, Fee & Service Charge
Schedule
Regulation E requires the disclosure that effective December 1, 2013, international wires will cost $30 per
wire. Our domestic wire fee will remain a low $10 per
wire. Please refer to our Rate, Fee and Service Charge
Schedule for more information.
Clear a spot on the wall, 2014 calendars
are on the way!
Every year we ask our talented members to submit local
photographs for our wall calendar, and every year it’s
a huge task to narrow it down; this year was no exception! We hope you enjoy these great pictures of our
beautiful community and have a terrific 2014.
In the last six months WECU® Jeans Days have supported
Domestic Violence and Sexual Assault Services (DVSAS),
Work Opportunities, two county-wide needs drives for
non-profits in Bellingham, Nooksack, Lynden, Blaine,
and Ferndale, and the Credit Union Legislative Action
Council (CULAC).
From left to right: Kathleen Gavin, Amanda Cook,
Thanh Larson, Kevin Parris
If you see staff wearing jeans, there’s a good chance they’ve
made a donation addressing important community issues.
Did you know we CUDL?
Stop the Paper Cycle - Pay it Green
CUDL is a credit union-owned program that allows you to
submit your auto loan application to WECU® 24 hours a day,
seven days a week right at the auto dealership. You can get the
same great WECU® loans and rates at the dealership as you
can at a branch. Just let your car dealer know that you’re a
member of WECU® and they’ll get you started with your loan.
The Pay It Green Alliance - made up of leaders in the
financial and consumer billing industries - is working
to reduce paper in financial transactions. You can help
by choosing electronic payments, bills, and statements
and using direct deposit.
What does this mean for you?
One-stop shopping and financing at the dealer: now you can
sign your loan paperwork at the same time you purchase
your next vehicle.
If all U.S. households received and paid bills electronically, the country would:
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Blocked Countries
Because of US foreign policy sanctions, the following
countries are currently blocked, by Visa Inc., for U.S.
member-related transactions:
Cuba
Iran
Sudan
Syria
Myanmar (Burma)
WECU®’s Card Services Department is unable to unblock these countries for member transactions.
Quick decision: Apply for your loan at participating dealerships and get a decision right away, even if it’s after WECU®
business hours or on weekends.
Same rates: The same great WECU® loan rates that you’d
receive in our branches are also available when you apply for
your financing through the dealership.
Dealer products: Prices may differ on loan enhancement products if you buy them at the dealer. Call WECU® to compare
our prices before purchasing life/disability protection and
GAP (Guaranteed Asset Protection).
WECU® servicing on your loan: If you have questions about
your loan, talk to a WECU® loan officer or our call center!
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Save 16.5 million trees each year - the lumber
needed for 216,054 average single-family houses.
Reduce toxic air pollutants by 3.9 billion tons of
carbon dioxide - similar to taking 355,015 cars
off the road.
Cut 1.6 billion pounds of solid waste a year equal to 56,000 loaded garbage trucks.
Ask us about electronic services that help you go green
when managing your money.
social responsibility
Non-profit of the Month
Bellingham Threshold Singers
The Bellingham Threshold Singers are a diverse group
of women with the shared purpose of singing together
to comfort the seriously ill or dying. These volunteers
sing in homes, care facilities and hospitals upon a
request from loved ones, caregivers, Hospice and facility staff. A small group of 2-4 singers perform softly
for 15-30 minutes without accompaniment, always
mindful of the condition and wishes of the person for
whom they sing.
Their repertoire includes soothing
songs of peace, hope, love, breathing,
light, compassion, and release suitable for any expression of faith. The
group believes that music can relieve
anxiety and sometimes pain. The intention of Bellingham Threshold Singers is to create a blanket of comfort
and compassion through songs and a loving presence.
Although singers typically focus on offering comfort to
someone who is ill, they also honor occasional requests
to sing for comfort at funerals or memorial services.
The group does not charge a fee for this service and
welcomes new singers.
WECU® will be closed Monday,
November 11th for Veteran’s Day and
Thursday, November 28th for
Thanksgiving.
To request their services or for more information call
360-927-4384 or visit www.bellinghamthresholdsingers.org.
anti-fraud tips
w e c u new s & not e s
Tips for how to use a Safe Deposit Box
Aside from your family members and pets, what would you
grab if you knew a natural
disaster was about to hit your
home? Those items, anything
that would be extremely difficult or impossible to replace,
are candidates for a safe deposit box:
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Original copies of insurance policies, stock and
bond certificates, titles and deeds, and other
leases and contracts.
Original certificates of marriage, birth, death,
citizenship, education, and professional training.
Rare coins and stamps, special jewelry, medals,
negatives of irreplaceable photos, and other valuable collections.
Inventory of the contents of your home-both in
list form and on videotape.
Don’t keep original items you may need immediately
or in an emergency, in a safe deposit box. Because you
might need access to these items when we’re closed,
consider keeping copies in a safe deposit box and give
the originals to your attorney:
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Original copies of wills.
Living wills and power of attorney documents.
Funeral and burial instructions.
Take an annual inventory of your safe deposit box’s
contents and store that inventory somewhere other
than in the box. Store your safe deposit box keys separately from the keys to your home and car and avoid
storing them in an envelope with the name of the credit
union on it, just in case your home is robbed.
If you would like a safe deposit box, WECU® has a
variety of sizes at our Holly, Sunset, Fountain, Blaine,
Everson, Ferndale, and Lynden locations. Check out
www.wecu.com or our Rate, Fee and Service Charge
Schedule for more information.
Thwart ATM Skimmers
Every year fraudsters steal millions of dollars from
consumers by “skimming” their personal account information. Skimming involves a thief installing a magnetic
card reader, or skimmer, over the actual card reader at an
ATM or gas pump.
When you swipe your card, the skimming device steals
the information and transmits it to a remote computer.
At the same time, a tiny, concealed camera reads your
PIN as you key it in.
Luckily, you can take steps to avoid becoming a victim:
n Use the same ATM as often as possible. Memorize
how it looks, so you will know if anything about it
looks fishy.
n Inspect the ATM. If anything looks unusual cracked, loose, scratched, or taped - don’t use it.
n Avoid ATMs in popular tourist locations, as they’re
common targets. When possible, use indoor ATMs,
which are harder for thieves to tamper with.
n When entering your PIN on the keypad, cover the
keypad with your free hand to block the view of a
spying camera.
Check your account often. If you notice unusual activity,
contact WECU® immediately.
s emi nar s
Details: These free seminars will be presented in the WECU® Education
Center at 511 East Holly St. in Bellingham, and are open to the public.
Reservations are required. RSVP online at www.wecu.com or call our
reservation line at 676.1168, ext. 7000.
Budgeting & Debt Management
Wednesday, November 20th, 7:00 - 8:30pm
Is money stressing you out? It will continue to do so
until you take control and live within your means! Do
you want to pay down debt, build a savings or save for
a vacation? Are you doing okay but think you could
do better? You need to plan and you need to write it
down. During this seminar WECU®’s Certified Credit
Union Financial Counselor, Reid Frederick, will discuss
budgeting strategies, money saving tips, debt repayment
strategies, and community resources.
Our mission: Provide the means for members to achieve their dreams.
Federally insured by NCUA.