January 2016 Issue - Clinchfield Federal Credit Union

CLINCHFIELD FEDERAL CREDIT UNION
QUARTERLY NEWSLETTER JANUARY 2016
Mark your calendars for the 2016 CFCU
Annual Meeting! The date is Friday, March
18th at 6:30 PM and will be held at the Unicoi County High School cafeteria and auditorium. Your night will include a delicious
catered meal and gospel music by The
Landmarks, followed by an entertaining
speaker! A short business meeting and
board of directors election will be held.
The night will wrap up with some fabulous
The Landmarks
door prizes!
As a member, you attend free of charge. You may bring any
joint owners or guests for only $10.00. You may pay at the
credit union anytime prior to the event. Please call us to make
your reservation or fill out the enclosed reservation card and
return it to the Credit Union. If you receive e-statements,
please contact us so we can fill out your reservation card for
you. We look forward to seeing you at this exciting event!
CFCU VISA CARDS
When you log in to your online banking in the near future, don’t
be alarmed when you see a few changes. These upgrades are
designed to enhance your experience with different devices so you
can navigate around the online banking site easier.
Call us if you have any questions!
Unlike this ugly holiday sweater,
holiday debt is no laughing matter! Try our low rate rewards Visa
and see how transferring a high
interest and high balance from
another card to our CFCU Visa at
2.99% balance transfer rate fits
your budget. Ask us about it
today! Hurry this low balance
transfer rate offer is only available
until February 28, 2016.
January 2016
CLINCHFIELD FEDERAL CREDIT UNION
www.clinchfieldcu.com
Hello from the CEO
Dear CFCU Members,
Along with the rest of our community, I am heartbroken to see the changes
at our railroad. I cherish the years I spent in the corner offices of the old depot. I
remember how kind everyone was to me and how much fun we had! Someone
was always calling wanting to finance a boxcar of watermelons or running
someone’s jacket up the flagpole….sometimes with their teeth in their pocket!
My first thought when I heard the news was “What can we do to help?” My
second thought was “What do we always do when any member goes through a
job change? We can extend, refinance, consolidate, modify and work magic with
numbers!” That is what we have done and I hope and pray we have made this
traumatic time a little more bearable. How great it is to be able to work with a
group that knows the value of hard work and paying their bills. Years ago before
I started at Clinchfield, I managed the Casket Plant and Superior Hone Credit
Unions. When they closed I saw firsthand that people who were willing to work
hard ended up with another job and didn’t look back! This is my prayer for our
railroaders.
Even though we are no longer just for railroad membership, the railroaders
organized this credit union, supported it, and have led to the strength of it. We
are now serving over 6,300 members and 80 million in assets strong!
No matter what your job, I know everyone likes to save money. We can
usually do that for you if you have loans other places. Please take the time to
come in and let us just see if we can make a difference for you.
One of my favorite loans is the HELOC…..the Home Equity Line of Credit.
It just makes sense to me to use collateral that you are going to get the best rate
for and to be in complete control of what you owe. If you have this line of credit,
you can use it anytime you need it. For instance, if your washing machine dies
and you have 14 loads of clothes to wash (heaven forbid!) all you have to do is
pick out a new one and write a check! You can pay it back anyway you choose
as long as you pay the interest every month. We have a special right now on our
HELOC’s at 1.99% for a year if you borrow $10,000.00.
Now is a good time before rates start going back up to either buy a new
home or refinance your present loan! If you have dreams of a new kitchen, a
swimming pool or remodeling projects, go for it! We’ve had several projects at
our house the last couple of years and Grady and I agree that we should have
done those years ago because we are enjoying them so much!
Come join us for fun, fellowship and good food at our Annual Meeting on
March 18th at 6:30 at the Unicoi County High School. Of course, we will have
everyone’s favorite, the Landmarks, singing beautiful gospel music for us! We
will also have our business meeting to elect 3 Directors for 3 year terms and lots
of great door prizes. To me though, the best part is getting to see and visit with
everyone!
Along with everyone else in the community, we were very
saddened at the passing of our Erica Nicholson’s dad, Roger
Arrowood. His very presence and precious smile lit up a room;
he was special and is missed by all.
Special note to all our railroaders. You all are special and
hold a place close in my heart! You work hard and take pride in
what you do. You treat us with respect. If you hit a rough spot,
you give us the opportunity to help you. When you get through
the rough spot, you pick up your obligations and keep going.
You all are one of the best reasons I have loved my job for the
past 39 years!
Sandy
Page 2
Employees
Sandy Lingerfelt, CEO
Amy Banks, SVP of Operations
Allison Anderson, SVP of Marketing & IT
Clarissa Lane, CFO
Lou Hatfield, VP of Lending
Erica Nicholson, VP of Compliance
John McFadden, VP of Collections
Julie Bradford, Administrative Assistant
Mimi Van Dyke, Mortgage Loan Officer
Missy Wainwright, Loan Officer
Alexis Gambrell, Loan Officer
DeAnna Oaks, Loan Officer
Lisa Hatcher, ACH/EFT Coordinator
Amy Hensley, Sr. Member Service
April Simmons, Marketing Asst./Member Svc.
Vickie Chambers, Head Teller
Sarah Hyder, Member Service
Jessica Grindstaff, Member Service
Kimberly Miller, Member Service
Rachel Ray, Member Service
Marsha Street, File Clerk
Kathy Charles, Receptionist
Reedie Griffith, Receptionist
Board of Directors
Paul C. Monk, Chairman
Wade Tilson, Vice-Chairman
Andrew Landers, Secretary
Sandy Lingerfelt, Treasurer
Todd Love, Board Member
Frank Cooke, Board Member
Mitch Manuel, Board Member
Walter Harris, Board Member
Jamie Miller, Board Member
Supervisory Committee
Clarence Bailey, Chairman
Glenn Tilson, Vice-Chairman
Paul Berry, Committee Mbr
Tim Whitson, Committee Mbr
W.R. “Bull” Phillips, Committee Mbr
IMPORTANT DATES
TO REMEMBER
Monday, February 15th
Closed for Presidents Day
4th Annual Relay for
Life Bake Sale
Thursday, March 24th
9:00 a.m.
Friday, March 25th
Closed for Good Friday
CLINCHFIELD FEDERAL CREDIT UNION
January 2016
Page 3
www.clinchfieldcu.com
STATEMENT OF FINANCIAL CONDITION
December 31, 2015 (Unaudited)
ASSETS
Loans to Members
$
50,541,796
Allowance for Loan Losses
(242,405)
Cash & Cash Equivalents
5,235,048
Investments
22,917,240
Prepaid Expenses & Deferred Charges
97,822
Fixed Assets
1,355,212
Accrued Income
159,360
Deposit to NCUSIF
675,599
846
Other Assets
TOTAL ASSETS
$
80,740,518
$
47,084
LIABILITIES & EQUITY
Accounts Payable
52,682
Accrued Expenses & Other Liabilities
TOTAL LIABILITIES
$
99,766
$
29,806,414
MEMBER EQUITY
Regular Shares
Share Draft Accounts
6,538,471
IRA Certificates
12,277,670
Share Certificates
21,930,110
298,745
Other Deposits
TOTAL MEMBER EQUITY
$
70,851,410
$
1,320,433
RESERVES & UNDIVIDED EARNINGS
Regular & Legal Reserves
Undivided Earnings
8,472,407
(3,498)
Unrealized Gain / Losses on Investments
TOTAL RESERVES & UNDIVIDED EARNINGS
$
9,789,342
TOTAL LIABILITIES & EQUITY
$
80,740,518
Clinchfield FCU Members Save Big with the
Sprint Credit Union Member Discount
Tired of paying too much for your wireless bill? We don’t blame you. So
we’re helping you save with the Sprint Credit Union Member Discount from
Love My Credit Union Rewards. As a CFCU member, you can save each
month on your wireless data – plus have your activation and upgrade fees
waived.
Our members can get:
 10% discount on select regularly priced Sprint monthly data service
 Activation fee on new lines waived ($36 savings)
 Upgrade fee waived ($36 savings)
Ways to get your discount:
 Call 877.SAVE.4CU (877.728.3428) or
 Visit your nearest Sprint store
Let them know you’re a credit union member and mention Corporate
ID: NACUC_ZZM.
Current and new Sprint customers need to verify credit union membership
to take advantage of these exclusive discounts. Download the Love My
Credit Union Rewards app in the Apple App Store or Google Play or
www.Sprint.com/verify to verify your membership.
Stop paying too much for your wireless data service. Start
saving with the Sprint Credit Union Member Discount
Meet Mr. Frank Cooke
Serving since 2012
With his many years of management experience, Frank
Cooke is an asset to the CFCU Board of Directors.
Recently retired after 17 ½ years from NN Ball & Roller, he
is enjoying life with wife, Arleen, his children, granddaughter, Aubrey, and another blessing due in February!
A BIG thank you to Unicoi Co. High School FFA
and Carpentry classes & Love Farms for
making our Christmas float so beautiful!
1038 N. Main Ave., Erwin, TN 37650
www.clinchfieldcu.com
Phone: (423) 743-9192 Fax: (423) 743-6156
Hours: Mon-Fri 8:15 AM - 4:30 PM
Drive-Thru open on Friday until 6:00 PM
VIRTUAL BRANCH
ONLINE BANKING
www.clinchfieldcu.com
CLINCHFIELD CONNECTION
VOICE RESPONSE
1-800-724-7442
CRR Retirees Breakfast
The Clinchfield Railroad Retired
Employees will be meeting for breakfast
at Maple Grove Restaurant at 9:00 am on
the following dates: Jan 1st- Feb 5thMarch 5th- April 2nd- May 7th- June 4thJuly 2nd- Aug 6th- Sept 3rd- Oct 1stNov 5th- Dec 3rd