Win everytime - GENCO Federal Credit Union

2nd Quarter 2016 report
THE BUILDING
BLOCKS OF YOUR SUCCESS
APR = Annual Percentage
Rate. Annual Percentage Rate
subject to change without
notice. Subject to credit
approval, membership eligibility
and loan policies. A minimum
loan amount of $5,000 and
excludes existing GENCO FCU
loans, real estate, motorcycle,
recreational vehicle, commercial
vehicle, indirect and business
loans. Offer ends May 31, 2016. Payment example: $21.70 per
$1,000.00 financed at 1.99%
for 48 months. 2Promotion
limited to one (1) member that
will be randomly chosen at the
end of the promotion to receive
a 0% interest rate on their loan.
The closing of the loan will
automatically enter you into the
drawing, all loans must close
on or before May 31, 2016 to
qualify for the drawing. For more
details, refer to www.gencofcu.
org. 3Trip Contest Eligibility:
USA, 21+ • Start Date: March
21, 2016 • End Date: All Auto
Loan applications must close
on or before May 31, 2016.
• Entry Frequency: One entry
per application. • Sweepstakes
Prizes: Trip for two to Las Vegas,
Nevada. The trip includes coach
airfare for two – not to exceed
$1200 total, a two-night hotel
stay – not to exceed $250 total,
spending cash $250. • Taxes
are not included in prize money.
• No purchase necessary to win.
1
For a Complete list of rules, go
to our website www.gencofcu.
org or speak with a member
services representative. Both
contest drawings will be held no
later than June 30, 2016.
Win everytime
when you refinance your Auto Loan at GENCO.
Refinance your current auto loan from another financial institution and get
3 MONTHS WITH NO PAYMENTS. You’re also entered for a chance
to win a trip3 for two, to Las Vegas! Plus, one lucky member will win a 0%
INTEREST 2 LOAN! It’s a winning decision to refi today at GENCO!
Refinance
today &
you’ll be
eligible to...
These
loans are
stacked
in your
favor!
AUTO
LOANS
APR1
Auto Loan rates start as low as...
APR1
APR1
MONTH
TERM
MONTH
TERM
Offer ends
May 31, 2016
E X P E C T
B E T T E R
P R E S I D E N T ’ S
M E S S A G E
elevatingmemberservice
Our number one goal as a credit union is to provide
to our members the best and most consistent
Member Service experience possible.
From
the 63rd
Annual
Meeting....
board of directors
Robert Black
CHAIRMAN
Larry Davis
GENCO’s Mission Statement: We pledge to provide and ensure all VICE CHAIRMAN
members of GENCO Federal Credit Union personal, convenient, courteous,
Mary Needler
and professional service in an efficient and cost effective manner and to
TREASURER
meet the demands of ever-changing economic conditions and perpetuate
Cathy Restivo
the credit union philosophy by adhering to sound management policies
SECRETARY
and a professional code of ethics.
Travis Cotten
In that spirit, I would like to take a minute and brag on our staff and one
BOARD MEMBER
of their most outstanding achievements of the year. For the past eight years,
Larry Bone
GENCO has participated in a mystery shopping program to evaluate our
BOARD
MEMBER
employees’ service levels so we can make sure you are receiving the highest
Jerry McDonald
quality service possible. In 2015, I am proud to announce that not only did we
exceed our internal member service goals, but we also received our highest
BOARD MEMBER
marks in the history of the program and were recognized four straight quarters
as one of America’s top credit unions in the Member Shoppers program. I’d
like to express my sincerest appreciation to every employee for achieving
Larry Bone
this great accomplishment. Nothing says success like satisfied members who
CHAIRMAN OF THE
know they are an appreciated and valued part of the GENCO family.
SUPERVISORY COMMITTEE
Promptness, Politeness, Professionalism and Personalization are the
Kim Payne
four P’s to successful Member Service. And the success of these can translate
COMMITTEE MEMBER
to successful growth in numbers and growth in member satisfaction.
Jerry McDonald
As our membership grows, so do our assets, which is the barometer of
COMMITTEE MEMBER
how well our members are receiving the products and services we have
to offer. Our current assets grew to $271.8 million, an 8.23% growth. Loan
demand increased by 4.27% to finish with $172.2 million in outstanding loans
You may or may not know that
while maintaining a low delinquency ratio of 0.33%. This tells me that you
our board and committees are
value the competitive rates we’re able to offer and that you have a strong
completely
voluntary. We would
commitment to honoring your financial obligations with GENCO. Membership
like
to
extend
a special thank you
increased by 3.53% in 2015 and now stands at 35,927 as of year-end.
to our 2015 Board of Directors
Membership growth is another significant achievement in 2015 that I want
and Supervisory Committee for
to make sure you are aware of. On August 1, 2015 we
all of their hard work.
merged and welcomed to the GENCO family the VA
Regional Office FCU. 600+ VARO Credit Union members
are now enjoying the service and benefits of being a GENCO member and we look
forward to growing our relationship with each of them.
In closing, our very talented team of professionals reports to work every day with
one objective: to help our members meet their financial goals. Our accomplishments
would not have been possible without their steadfast commitment and dedication.
Their passion inspires me, and I thank them for their loyalty and commitment to
providing great service.
supervisory committee
thank you...
Many thanks to everyone for being an
integral part of our credit union family.
We look forward to serving you and your
continued support.
Thanks, Neil Ling, P R E S I D E N T
W W W . G E N C O F C U . O R G
SUPPORTING THE
THE BUILDING
BLOCKS OF
YOUR SUCCESS
MEMBERS IN OUR COMMUNITY
Russell Berry
Each year, GENCO attends the
McLennan County Live Stock Show
to show support for our youngest
members competing and showing
their projects. These kids work hard
all year learning how to purchase,
raise, care for and show a prize
animal(s). This education provided
through the Texas A&M AgriLife
Extension
Clay Nors
Service
teaches these hard working
participants research-based
knowledge to benefit their families
and communities.
Carson Ford
KEEP UP THE
GREAT WORK!
Kimberly Ludwig
Lauren Berry
Mortgage Loans
Made Simple & Easy
First-time buyer or fourth: Buying a
home is stressful! So many decisions
- Cape Cod or Colonial? Split-level
or Salt Box? Adequate storage
space? Too much yard or not
enough? And unlike the shopping
mistake at your favorite store with
the generous return policy, with a
house, there’s not much room for
buyer’s remorse. That’s why you’ll
want to take the time to not only
sort out your needs and wants, but
also see the credit union about
your mortgage. Because, while
house hunting is complicated, we
work hard to help make financing
it simple and easy. We know you
will have lots of questions and
we’re here with the answers. We
are with you every step of the way.
From suggestions on how to bump
up your credit score, so that you
can qualify for the best rate, to
providing a clear explanation of
every piece of paper you sign at
the closing.
Call, click, or contact us today
for more information.
ALERT: THAT DORMANT ACCOUNT
GENCO Federal
Credit Union
P.O. Box 7246
Waco, Texas 76714-7246
(254) 776-9550
(800) 922-6428 (936) 637-7710
www.gencofcu.org
HOLIDAYS
Memorial Day
May 30
Independence Day
July 4
COULD BE COSTING YOU MONEY!
Did you know, that an account that’s been inactive for over two years could
be a potential liability? In fact, if you have such an account you could be
racking
up monthly
fees. Oftentimes,
members
may forget about or lose
FLife
Insurance
FAuto
Insurance
track of an old account,FHome
unaware Insurance
that once it has gone
inactive,
your account may start
FAD&D Insurance
costing you money.
FHealth Insurance
Luckily, reactivating your sleeping account is an easy fix. To bring your account current and
remove the dormant flag, just conduct any of the following simple transactions:
1.Make a deposit into your Primary Share (Savings) Account
2.Make a withdrawal from your Primary Share (Savings) Account
3.Authorize Direct Deposit from external sources such as, payroll or social security
Rather than costing you money, your Account should be helping you save and better manage your
funds. Get started today! For assistance, give us a call, stop into any branch location, or visit us at online.
Federally
Insured By
NCUA
Your savings
federally insured
to at least
$250,000 and
backed by the full
faith and credit of
the United States
Government.
community
WHAT DOES GENCO FEDERAL CREDIT UNION DO WITH YOUR PERSONAL INFORMATION?
CONNECTIONS
Why?
Financial companies choose how they share your personal information. 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.
What?
The types of personal information we collect and share depend on the product or service you have with
us. This information can include:
• Social Security number and account transactions
• checking account information and credit history
• employment information and transaction or loss history
When you are no longer our member, we continue to share your information as described in this notice.
How?
Reasons we can share your personal information
Does GENCO Federal
Credit Union share?
Can you limit
this sharing
For our everyday business purposes such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or to report to credit bureaus
YES
NO
For our marketing purposes to offer our products and services to you
YES
NO
For joint marketing with other financial companies
YES
NO
For our affiliates’ everyday business purposes information about your transactions and experiences
NO
We don’t share
For our affiliates’ everyday business purposes information about your creditworthiness
NO
We don’t share
For our affiliates to market to you
NO
We don’t share
For nonaffiliates to market to you
NO
We don’t share
QUESTIONS?
Call toll-free (800) 922-6428 or go to www.gencofcu.org
What we do
How does GENCO Federal Credit Union To protect your personal information from unauthorized access and use, we use
protect my personal information?
security measures that comply with federal law. These measures include computer
safeguards and secured files and buildings.
(254)
776-9550
•
(936)
•
All financial companies need to share members’ personal information to run their everyday business. In
the section below, we list the reasons financial companies can share their members’ personal information;
the reasons GENCO Federal Credit Union chooses to share; and whether you can limit this sharing.
637 - 7 7 1 0
( 8 0 0 )
9 2 2 - 6 42 8
•
www.genco f cu.o rg
FACTS
How does GENCO Federal Credit Union collect my personal information?
We collect your personal information, for example, when you
• open an account or show your government-issued ID
• give us your income information or provide employment information
• apply for financing
We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
Why can’t I limit all sharing?
Federal law gives you the right to limit only
• sharing for affiliates’ everyday business purposes
• information about your creditworthiness
• affiliates from using your information to market to you
• sharing for nonaffiliates to market to you
State law and individual companies may give you additional rights to limit sharing.
Definitions
Affiliates Companies related by common ownership or control. They can be financial and nonfinancial companies.
- GENCO Federal Credit Union has no affiliates
Nonaffiliates
Companies not related by common ownership or control. They can be financial and nonfinancial companies.
- Nonaffiliates we share with can include insurance companies, government agencies, plastic card processors (credit/
debit/ATM), financial statement publishers or printers, mailhouse, mortgage companies, mortgage service companies, consumer reporting agencies, data processors, check/share draft printers, and direct marketing companies
Joint Marketing
A formal agreement between nonaffiliated financial companies that together market financial products or services to you.
- Our joint marketing partners include advertising/marketing agencies, CUNA Mutual Group’s MEMBERCONNECT, and loan recapture programs