Nominating Committee Report - GENCO Federal Credit Union

1st Quarter 2015 report
The building
blocks of your success
What’s your
Credit
Score?
Nominating Committee Report
The Nominating Committee Jerry Cross, Cathy Restivo and Kim Payne, Chairman,
nominates Larry Davis, and Travis Cotten, to fill two positions on the Board of
Directors that expire at the 2015 Annual Meeting.
5 Tips for improving
your score
Larry Davis has been a member
one...
Get copies of your credit
report—then make sure the
information is correct. Go to
www.annualcreditreport.
com. This is the only
authorized online source for
a free credit report. Under
federal law, you can get a
free report from each of
the three national credit
reporting companies every
12 months. You can also call
877-322-8228 or complete
the Annual Credit Report
Request Form at www.ftc.
gov/bcp/edu/resources/
forms/requestformfinal.pdf
and mail it to Annual Credit
Report Request Service, P.O.
Box 105281, Atlanta, GA
30348-5281.
two...
of GENCO FCU for more than 31 years
Financial Officer for Texas Farm Products
and has served three terms (9 years)
Company located in Nacogdoches,
on the Board. He is currently serving as
TX. Mr. Cotten has been a member
Vice Chairman of the Board, a position
of GENCO FCU since 2004 and has
he has held for the last 8 years. Mr.
served two terms (6 years) on the
Davis also has previously served on
Board. Mr. Cotten has over fifteen
the Supervisory Committee for seven
years of experience in treasury, finance
years, serving two years as Chairman. and accounting, and he also has
Mr. Davis has also served on GENCO’s
experience in mergers and acquisitions,
Nominating Committee numerous times.
financial analysis, and budgeting.
Election results will be announced at the Annual Meeting
Additional nominations by official
petition will be accepted if signed
by one percent (347) of the total
membership. Each nominee must
present qualifications, biographical
information and a statement of
Pay your bills on time.
One of the most important
things you can do to improve
your credit score is pay your
bills by the due date. You can
set up automatic payments
from your account to help
you pay on time, but be sure
you have enough money
in your account to avoid
overdraft fees.
CONT. p 2
Travis Cotten is the Chief
willingness to serve. Petitions must
be submitted by February 9, 2015 to
the Valley Mills Drive office. Send to:
GENCO FCU
Attention: Board
Secretary
P.O. Box 7246
Waco, TX, 76714-7246
Annual Meeting:
Date:
Saturday
March 28,
2015
Location:
Waco Convention
Center, in Brazos
Room
All Members Welcome: Please join us on
Saturday, March 28th, 2015. The Banquet
will begin at 6:15 and will be followed
immediately by our Business Meeting at
7:00pm. Meal tickets are available at all
GENCO branches after February 1, 2015.
Tickets are $7.00 each. No meal ticket is
required to attend Annual Meeting.
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
CONT. from p 1
What’s your Credit Score?
Looking Ahead to 2015
We all start the new year with so much excitement. We
hope to achieve new goals, new dreams, we promise
ourselves that THIS year will be THE year and somehow,
somewhere around the second week of February (or earlier
in some cases) we realize that NOTHING has changed –
we’re back on our old track.
Why is it? Simple – New Year means new beginnings, which
means CHANGE. Change can be hard. Rather than change why
not think in terms of GOALS? Financial goals are something that we
can help you with. Why not come see us when you want to make
some new goals for your finances. GENCO and our knowledgeable
staff are here to help you.
We set a few of our own goals for last year and we met them. The
first was to launch our new website. All year we have been getting
positive feedback on our new site. And in an effort to serve more of
our members, we have decided to launch the same site again, but
in Spanish. We want to offer all of our members easy access to our
services. We are also very excited and looking forward to one of our
top priorities for 2015: Mobile Banking!!
Another goal we set was to continue convenient service for members
with our new Woodway branch. In June we opened the doors to our
new location at 105 Archway Drive. The new office features a 4-lane
drive thru and a drive up ATM to serve you better. Another goal of ours is to always offer you a wide array of superior
products and services to meet all of your financial needs through
exceptional quality service. We strive to offer you competitive interest
rates on deposits and loans and to provide you with professional,
personalized service.
GENCO had a great 2014 supporting our community and participating
in many area events. We love to see our members out in the
community and enjoy it when you come visit us at our member events,
expos, exhibits and health fairs. From everyone here at GENCO FCU,
thank you for your membership. Happy New Year to all of you and
best wishes for a prosperous 2015.
Thanks, Neil Ling,
R E M I N D E R
President
It’s a New Year – do you need to
update your contact information?
We are constantly updating our files to make sure we have the most recent
contact information on you. If you have recently changed location, or
you are planning to, please call us at 254-776-9550 with your new contact
information. Keeping your correct address on file can help:
•Maintain your privacy •Protect you from identity theft •Save you money
Changes to your account must be communicated to you in writing. Without
a current address you could miss important details that affect your money.
three...
Understand how your credit
score is determined. Your
credit score is usually based
on the answers to these
questions: ●Do you pay your
bills on time? ●What is your
outstanding debt? ●How long
is your credit history? ●Have
you applied for a new credit
recently? ●How many and
what types of credit accounts
do you have? To learn more
about credit scoring, see the
Federal Trade Commission’s
website at www.ftc.gov.
four...
Learn the legal steps you
must take to improve your
credit report. The Federal
Trade Commission provides
additional information on
correcting errors in your credit
report, tips on dealing with
debt and avoiding scams.
five...
Beware of credit-repair scams.
Sometimes doing it yourself
is the best way to repair your
credit. The fact is there’s no
quick fix for creditworthiness.
You can improve your credit
report legitimately, but it takes
time, a conscious effort, and
sticking to a personal debt
repayment plan.
For more information on
improving your credit go
to www.ftc.gov.
www.gencofcu.org
New Website Launch....En Español!
IN ENGLISH
The building
blocks of
your success
En Español!
Last January, in 2014, we launched our new
website for you, our community. We updated our
look, design and feel. The feedback we received
was over the top! We then wanted to offer our
Spanish speaking members an easy to navigate
site in Español. We are proud to be a part of this
community and want to bring everyone the best
service possible.
Both sites will be changing frequently as we fine
tune and update our content. Our goal is to bring
information to you in a professional and efficient
manner. All the same features will be
offered on both sites.
All the same great features will
be offered on the Spanish site
including key word search
feature, online loan applications
and responsive design. Offering
responsive design, GENCO aims
to give users the best experience
no matter what type of device
they are on or which language
they prefer to speak/read. All
this is now offered in Spanish!
El pasado mes de enero, en 2014, lanzamos
nuestro nuevo sitio web para ustedes, nuestra
comunidad. Hemos actualizado nuestro aspecto,
el diseño y la sensación. Las opiniones que
hemos recibido han sido superiors! Entonces
queriamos ofrecerles a nuestros miembros que
hablan Español un sitio facil de navegar en
Español. Estamos orgullosos de ser parte de esta
comunidad y queremos llevar a todos el mejor
servicio posible.
Ambos sitios se cambian con frecuencia como
sintonia fina y actualizar nuestro contenido. Nuestro
objetivo es llevar la información a usted de manera
profesional y eficiente. Las mismas características se
ofrecen en ambos sitios.
Todas las mismas funciones se ofreceran en el
sitio de Español incluyendo función de búsqueda
de palabras clave, las solicitudes de prestamos
en línea con capacidad de diseño receptive. Ofreciendo diseño receptivo, GENCO tiene por
objeto ofrecer a los usuarios la mejor experiencia no
importa el tipo de dispositivo en que se encuentran
o en qué idioma prefieren hablar/leer. Todo esto se
ofrece ahora en Español!
holidays
Martin Luther
King, Jr. Day
January 19
President’s Day
February 16
Simple Steps to Saving Thousands with a Credit Union Auto Loan
With all the attention paid to refinancing home mortgages, restructuring your auto loan may not even be on
your radar; however, there are 5 reasons refinancing an auto loan may be right for you.
Many of us spend hours
or even days researching a car purchase. We visit manufacturer Web sites to see what’s available, go to consumer
sites we like for advice and recommendations, check ads in the newspaper looking for bargains and then travel
around to dealerships test driving our favorites.
Despite all of our care in choosing the right car, we don’t always
put as much effort into getting the best auto finance rate - the cost of borrowing money. If your current auto loan
interest rate is above 3%, you might want to run the numbers and look at refinancing.
Unlike refinancing your
mortgage, or even getting a loan to consolidate your credit card balances, refinancing your vehicle loan is usually
quick, easy and painless.
•
•
•
You should consider refinancing your auto loan if:
a
Interest rates have dropped.
Auto loan interest rates are at historic lows.
According to Paul Taylor, the chief economist at the
National Automobile Dealers Association (NADA),
auto rates haven’t been this low since Harry Truman
was president.
According to credit data expert Experian, interest
rates are down for all borrowers from those with a
spotless credit history to those with a checkered
credit past. Even for the highest risk borrowers that
Experian refers to as “deep subprime,” new-car
interest rates dropped nearly a full percentage point
from the end of 2010 to the end of 2011.
b
You didn’t get the lowest
interest rate.
If you didn’t do
your homework
before jumping
into an auto loan,
chances are
pretty good you’re
paying too much in
interest.
c
A credit score is a snapshot of credit
Your credit score improved.
worthiness at any moment in time. It’s a
living, breathing thing that tracks up and
down according to our changing credit
status. It’s a numerical value reflecting
the credit risk we pose. A higher score
translates into less risk; lower scores means
lenders take a bigger risk lending to us.
You can check your credit score for free at
Experian’s freecreditscore.com.
You need to reduce your monthly payments.
You want to buy a car that is coming off lease.
Most lease contracts are written to give the leasee the option of
buying the car when the terms of the lease have been fulfilled.
Original published in AutoTrader – By Gina Ragusa
GENCO Federal Credit Union
P.O. Box 7246 • Waco, Texas 76714-7246
Valley Mills Drive Office
731 N. Valley Mills Drive
Northeast Branch Office
1500 N. Loop 340
Lorena Branch Office
230 N. Frontage Road
Woodway Branch Office
105 Archway Drive
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.
Lufkin Branch Office
1402 S. John Redditt Drive
Lufkin State School Branch Office
Highway 69 N. Central
(254) 776-9550 or (800) 922-6428 (936) 637-7710
www.gencofcu.org
MCC Foundation Scholarship
Each year GENCO FCU awards a $1,000 scholarship
to an MCC student.
Students must apply online through ApplyTexas and
include a list of qualifications. Instructions for this can
be found at http://www.mclennan.edu/dual-credit/
docs/ApplyTexas.pdf. You may also find this link on our
website on our Scholarship page.
No paper applications will be accepted. Official
transcripts are also required to be submitted and they
must be delivered to the MCC Admissions Office on
or before the deadline. If you have any questions
regarding the application process, please contact
Shelly Cotton at [email protected] or visit
http://www.mclennan.edu/foundation/scholarships to
learn more about scholarships and resources available.
The next award will be for the 2015-2016 year and
applications are still being accepted through
January 15, 2015.
REGARDING CREDIT INSURANCE:
For members insured with Credit Insurance,
coverage terminates on the last day of the month
during which you reach the Termination Age of
70 for Credit Life and 66 for Credit Disability.
mark your calendars!
Come see the GENCO booth at
the annual Home builders Show in
February on the 7th & 8th. We will
have great give-aways and fresh pop
corn for everyone!
Then in February we will be at the
McLennan County Livestock Show!
We love supporting our members in
every aspect of their lives.
In March you will find us at Boots
On the Brazos supporting the ARC
of McLennan County. The Arc of
McLennan County is dedicated to
expanding opportunities, care, and
support for persons and families
impacted by intellectual and
developmental disabilities.
Available at genco
· Remodeling
· Wedding
· Vacation
· Pool
Take advantage of a lower
interest rate than most
other consumer loans or
credit cards. Call us today
and prequalify for YOUR
home equity loan today!
·
Taxes
Done
Right
IMPORTANT NOTICE
upcoming dates
Home
Equity Loans
Angelina College
Scholarship
GENCO Federal Credit Union
established a scholarship fund
with Angelina college in order
to recognize one of its members
who is majoring in a business
education. This member must
show outstanding academic merit
and be a full-time student. Business
majors who are GENCO members
may apply by going to the Angelina
College Scholarship Website at
www.angelina.edu and clicking on
student tools. Applicants must
provide a letter from GENCO
confirming membership.
Applications for the following
academic year are due to the
Scholarship Coordinator no later
than March 1st of each year. The
scholarship is for $1,000, $500 each
for the Fall and Spring semesters. For more information please
contact Jennifer Standley at
[email protected].
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