newadvantage - GENCO Federal Credit Union

3rd Quarter 2014 report
The building
blocks of your success
*Checking
Disclaimer: You
must keep the
account active for
120 days to receive
the cash bonus.
Active checking
account includes
a minimum Direct
Deposit of $250.
Offer does not apply
to secondary or
multiple checking
accounts or to
members who have
closed a checking
account within the
last 90 days. Certain
restrictions apply.
This offer will expire
August 29, 2014.
new
advantage
checking accounts
Ope n a ne w Advan tag e
Ch eck ing acco un t
an d cla im you r rewar d.
reward offer expire august 29, 2014
- saddle up and get to work!
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
New Branch is now
open for business
Back row: Daniela Andrade, Cindy Grisham - Branch Manager, Tenisha Woodard,
Front row: Jennifer Coffman, Susie Matthews, Veronica Alonso, Darcy Stiver
In 2006, GENCO first opened its doors to the Woodway/Hewitt
communities in a small leased space office with a two lane drive thru. The
community support has been outstanding and because of the growth we
have experienced over the last 8 years, we are very proud to bring a new level of
service and convenience to the community. On June 30th, the doors opened at our
new Woodway branch facility located at 105 Archway Drive on Highway 84 in front of
the movie theatre. The new location will offer dedicated parking and an expanded 4
lane drive thru with two way audio/video for a very personal member experience. Our
drive thru will also feature a fifth lane with a drive up ATM. Inside you will find all of the
full service deposit and loan products you have become accustomed to and we are
adding safe deposit box services as well.
So stop in and see us. We have a wonderful group of staff members, led by our Branch
Manager, Cindy Grisham, who are very excited to serve you. Open up an Advantage
Checking account or finance your next home or auto purchase at the Woodway
location. We look forward to serving you and continuing
the partnership in the Woodway/Hewitt
Sincerely, Neil Ling,
community that began in 2006.
President
New Bill Pay Upgrade:
SINGLE SIGN ON!
GENCO is excited to announce that your bill pay product will soon be changing! GENCO has been looking for a
bill pay product that we feel will work better for you. In our research we believe we have located the best bill pay
product for you and your bill payment needs. This fall we will be launching a new and enhanced version of our
consumer bill payment service. The new service will offer many new benefits and features including better cash flow
control and the ability to accept electronic bills. Best of all, the new bill pay features a new payment model where
your account will be charged on the same day the biller receives the funds for your payment!
In the new bill pay product you can expect to see the following changes:
1 The new service will allow for single sign on through GENCO’s NetBranch eliminating the need to sign on to each
service separately and having to remember multiple user IDs and passwords.
2 A new payment model. Keep your money with you. Your money will remain in your bank account until the day
you select the payment to be made to your vendor. In addition, for vendors who can only be paid by check, you
will now be able to see the bill pay check clear your account and view it in NetBranch.
3 A new e-Billing Center which allows you to receive your bills electronically and pay the bill directly from the
electronic invoice eliminating additional paper.
4 Popmoney (Person to Person Payments), account to account transfers, and same day or next day bill payment
services will be available if you choose for a fee.
5 Search for vendors. Add new vendors simply by typing in the company name. If a match is found in the database,
the vendor’s information will be added automatically. No more hunting down mailing addresses! Simply enter
your account number and add your bills to be paid.
6 Schedule payments by the due date. The product allows you to enter the date you would like your vendor to
receive your payment, and we take care of getting it there on time!
7 Set up reminders. Never make a late payment again! When you set up reminders, you’ll receive a message telling
you when your payment is due.
8 Make recurring payments. Eliminate the hassle of paying your monthly bills by setting up recurring payments. This
is a great option for payments that don’t change from month to month - such as your car payment or mortgage.
9 See it all at a glance! The Payment Center lets you make payments and view pending payments, recent
payments, and bill reminders all on the same screen.
w w w . g e n c o f c u . o r g
Have you “liked” us yet on facebook?
The building
blocks of
your success
Thanks to our “Luv Your Car, Not Your Payment” promotion many of
our members found us on facebook. We had so much fun seeing
our members “hugging” their car. Check us out and follow your
not your
payment!
favorite credit union – we love to give
our members up to date information
and keep you in the loop.
GENCO Federal
Credit Union
P.O. Box 7246
Waco, Texas 76714-7246
SUMMER
CU DISCOUNTS
have you tried our web
payment center yet?
Don’t forget there are great summer savings through
GENCO FCU. Go to our website and look under
GENCO’s payment center is a great
way to make a one-time loan payment
from another financial institution. “Resources” – “Credit Union Disounts.” Save money
Pay your loan from
any phone
on admission tickets to Hawaiian Falls, Sea World,
6 Flags, movie theatre tickets or go to
Make your payment
via the internet
www.lovemycreditunion.org for more savings!
GENCO will also begin selling raffle tickets for the
Stop by any GENCO
branch office
MDA Grillin & Chillin Event on October 18th. This year
GENCO is a title sponsor for this great event and
exited to see who will win a NEW HARLEY DAVIDSON
at our North East branch.
events!
July, Grand
Opening of our
New Woodway
Branch
holidays
Independence Day
Friday, July 4
Labor Day
Monday, Sept 1
A nominal fee is applied when using the Payment Center. $5
fee for internet payment and a $10 fee for phone payment.
Mark your calendars
for
pcoming
u
family
www.gencofcu.org
Celebrate the
convenience!
MOTORCYCLE this year! Last
year the winning ticket was sold
(254) 776-9550
(800) 922-6428 (936) 637-7710
July 31,
Hewitt
National
Night Out
Federally
Insured By
NCUA
September 23,
Waco Chamber
Smoozapalooza
Your savings federally
insured to at least
$250,000 and backed
by the full faith and
credit of the United
States Government.
GENCO FCU
Overdraft Privilege
Disclosure
Overdraft Privilege (ODP) is a service we provide to our checking account members to cover inadvertent
overdrafts. The service is subject to the eligibility criteria and other constraints as explained below.
n You are NOT required to have this service on your account - You may opt-out at any time.
n The payment of overdrafts is not guaranteed - With ODP we will generally pay your overdraft items up to $500.00, however, whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if
your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts.
n You will be charged an overdraft fee for each insufficient item paid into overdraft - You will be charged our normal overdraft or return item fee currently up to $28
for each item that is presented. When more than one overdraft item is presented and paid, multiple overdraft fees may be charged. Both the amount of the overdraft items and all
other fees, including but not limited to overdraft fees, are included in this limit.
n Suspension of Overdraft Privilege - If you overdraw your account, you must return the account to a positive balance within 30 days, or your Overdraft Privilege will be
suspended. Your Overdraft Privilege may be suspended if you fail to meet our eligibility criteria and if we believe you are not managing your account in a responsible manner which
may harm you or the Credit Union.
n Deposits to Overdrawn Accounts - All deposits to overdrawn accounts are applied to the negative balance.
n Closing of Overdrawn Accounts - Checking accounts that remain overdrawn for 45 consecutive calendar days will be closed and charged off.
n Excessive Use - ODP is not designed to be used as a permanent solution for financial needs. The Credit Union monitors accounts for excessive use and we may remove ODP if we
believe you are not managing your account in a responsible manner which may harm you or the Credit Union.
Overdraft Protection Options. There are other overdraft protection options available to you which may be less costly.
Product/ServiceDescription Transfer from another account If you have other accounts with us, you can authorize us in advance to transfer the funds needed to cover overdrafts
Overdraft Line of Credit
This product requires you to complete an application, and approval and Annual Percentage Rate (APR) are based on your credit worthiness and credit score. Cost
$1.00 per transfer
10.9% - 17.9%
Annual Percentage Rate
Eligibility Criteria - No application is required; eligibility is at the discretion of the Credit Union. You may not be granted ODP if:
n Your account has been open for less than 60 days
n Your account type is not eligible
n You are more than 30 days past due on any Credit Union loan or delinquent on
any other obligation to the Credit Union
n You are subject to any legal or administrative orders, levy, or are currently a
party in a bankruptcy proceeding
n You have an outstanding Overdraft Repayment Plan balance
n Your account is being reviewed for fraudulent activity
n The primary account owner is less than 18 years old
n A ChexSystems or other negative indicator has been reported to us
n Your account is classified as inactive or dormant
n You have an unresolved prior loss with the Credit Union
n We do not have a valid address for you
Checks
Transactions Eligible for Overdraft Privilege Coverage: Preauthorized automatic transfers
ACH transactions In-person withdrawals
Internet banking
Telephone banking
ATM *
Everyday Debit Card* *ATM/Everyday Debit Card Transactions - Even though protection is not authorized, an ATM or debit card purchase can overdraw your account due to timing issues or lack of proper
authorization from the merchant. If these types of overdrafts occur without overdraft protection, and account abuse becomes evident, GENCO Federal Credit Union may revoke the member’s
debit card privileges without notice (See coverage opt-in).
Overdraft Privilege Opt Out - If you do not want to have Overdraft Privilege, simply contact us and we will provide you an opt-out form to remove this benefit from your account. If you opt-out,
you may still be charged our $28.00 returned item fee. Members who receive Social Security, federal direct deposit or any other entitlement benefit must opt-out if they do not want the Credit
Union to apply those funds to pay an overdraft.
Payment Order of Items - Items presented for payment may not be processed in the same order as they were received and that order may affect the total fees assessed to your account.
Generally the first items that we pay are ATM withdrawals, debit card transactions, and any checks cashed by our employees or that you have written to us. We then pay any items that were
submitted electronically, such as ACH items, preauthorized automatic transfers, telephone-initiated transfers and any other electronic transfers. Finally, we pay the remaining items based on
dollar amount from the least to the greatest.
NOTE: Holds placed on your available account balance for pending debit card/electronic transactions, including gasoline, hotel/rental car deposits, etc, may reduce your available balance and
cause your account to become overdrawn.
Financial Education – The Credit Union believes that financial literacy and education helps consumers make informed decisions. Awareness of personal financial responsibility allows consumers
to realize the benefits of responsible money management, understand the credit process and the availability of help if problems occur. www.MyMoney.gov is the federal government’s website
for federal financial literacy and education programs, grants and other information. To request a personal financial toolkit, call 1-888-MyMoney.
Checking Account Agreement - Your account agreement describes the duties, obligations, and rights of depositors, authorized signatories and the Credit Union with regard to your deposit
accounts. That account agreement is incorporated herein for all purposes as if it were set forth verbatim as to matters not directly addressed by this disclosure. Your account agreement and this
disclosure shall be construed so as to minimize conflicts between them.
Waiver: The Credit Union’s forbearance from, or delay in, exercising any of the Credit Union’s rights, remedies, privileges, or right to insist on your strict performance of any provisions of your
account agreement, this ODP disclosure, or any other provision related to your account, shall not be construed to be a current or future waiver of the Credit Union’s rights, remedies or privileges.
Remedy: You and the Credit Union agree that the exclusive remedy and forum for all disputes arising out of the Overdraft Privilege or your or Credit Union’s performance there under, except for
matters you or Credit Union take to small claims court, is arbitration by an independent arbitrator pursuant to the applicable rules of the American Arbitration Association, except as prohibited by law.
Effective Date - All information listed in this disclosure is effective April 30, 2014
Note: this disclosure was approved by the Board of Directors at the regular Board meeting held on March 17, 2014
Valley Mills Drive Office
731 N. Valley Mills Dr.
Woodway Branch Office
105 Archway Dr.
Lacy Lakeview Branch Office Lufkin Branch Office
1500 N. Loop 340
1402 S. John Redditt Dr.
P.O. Box 7246 • Waco, Texas 76714-7246
Lorena Branch Office
230 N. Frontage Rd.
Lufkin State School Branch Office
Highway 69 N. Central
(254) 776-9550 • (800) 922-6428 (936) 637-7710
www.gencofcu.org
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.