AFCU.org from Arkansas Federal Credit Union

ARKANSAS FEDERAL CREDIT UNION
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April 2010
from Arkansas Federal
Credit Union
We’re committed to helping students fund their college
education. With lower interest rates and no origination
fees, you’ll get significant cost-savings by choosing
Arkansas Federal’s Student Loan.
Arkansas Federal’s Student Loan Features:
Apply once and secure a line-of-credit that you
access only when you need it
NO Origination Fee
Flexible repayment options
Fills the gap federal funding leaves behind
Option to defer principal and interest
while in school
Use the Cash from your
Arkansas Federal Student Loan
to Pay for Any College Expense.
Apply online at AFCU.org.
AFCU.org
AFCU
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Board of Directors
Phillip B. Boudreaux, Chairman
Jerry E. Spratt, CPA, CFE, CGFM, CFSA, Vice Chairman
Art Williams, Secretary
Garold L. White, Treasurer
William Shrigley, Director
Volunteer Supervisory Committee
Robert Rodgers, CPA, Chairman
Jay Simmons, Secretary
Don Greene, Member
Reginald Ford, Member
Thomas Russell, Member
Volunteer Credit Appeals Committee
Dale Duell, Chairman
Jan Avant, Member
Carol Lunday, Member
HOLIDAY
CLOSINGS
All AFCU branch and drive-up teller
locations will be closed in observance
of the following holidays:
• Memorial Day
Monday, May 31, 2010
AFCU wishes you and your family
a safe and happy holiday.
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LARRY’S LETTER
Keeping You Informed
The first quarter of
2010 has certainly
flown by! The
national economy
has made some
improvement but it
still has a long way to
go. Unemployment
is still high and
consumer confidence continues to be in
the doldrums. Arkansas has historically
not suffered as deeply as the rest of
the country during previous economic
downturns, yet the national economy is
affecting many Arkansans.
Your credit union continues to be
a safe and secure place for all your
financial needs. We continue to be well
capitalized. The first quarter you saw
your credit union continue to grow its
capital, as you, our members continued
to trust us as your financial partner. We
continue to make loans, provide a safe
and secure place to put your savings, and
continue to deliver relevant products and
services that will help you weather the
economic stress we are all dealing with.
We want you to know that we are here to
serve you, our members, and to assist you
in every way we can to maneuver through
these difficult times.
In February, we introduced a new tiered
and lower non-sufficient funds fee. This
new structure assists those that may
occasionally overdraw their account
by reducing the cost for the occasional
mistake that might be made in balancing
your checkbook. This is just another
validation that your credit union is
continuing to improve your financial life
in all we do. Your continued support of
our cooperative is the major reason we
continue to grow and are able to offer new,
innovative products like this; products that
make it easy and financially smart to do
business with your credit union!
Our newest branch in Hot Springs is doing
very well! Many members appreciate the
level of service being delivered by the
Mobile.AFCU.org
staff and the location, which includes
a drive up window. It has proven to be
readily accessible by all who live in the
Hot Springs area. Your credit union is
exploring other opportunities to expand
or modify its reach in other areas across
the state. We will keep you posted as
those locations are approved by the
Board and we determine the timelines for
their implementation.
During the next quarter your credit union
will be implementing several changes
that will make it even easier for you to do
business with us through new and better
features to products and services we
already offer. Additionally, these changes
will prove to be extremely cost effective to
the cooperative. All of these changes are
made possible because of your continued
loyalty to AFCU, and are driven by your
staff’s commitment on improving each
member’s financial life!
We will be installing a new phone system,
which should improve your ability to
navigate to the person more directly and
easier than in the past. We are converting
to a new home banking provider that will,
among other things, increase the options
you have for transferring funds to and
from other accounts outside of AFCU. We
are also converting our credit and debit
card processing over to another company
that will allow us to serve you effectively
24/7 by utilizing their world class call
center during hours when your credit
union would normally be closed.
The management team and your board of
directors are thankful for your continued
and increasing use of our cooperative.
You, the members, are the reason we
exist. As we look to the future, you can
be assured that we will consistently strive
to exceed your expectations, continue to
deliver innovative products and services,
and most importantly to always try and
improve your financial lives in everything
we do.
May God continue to bless you and yours!
page two
It all starts April 26th!
Our number one priority at Arkansas Federal Credit Union is to provide the best member
service experience possible, whether it’s at one of our 13 branch locations or on the web.
What’s New at AFCU.org?
AFCU will host the fifth annual AFCU
Golf Classic to benefit Arkansas
Children’s Hospital on Thursday, April
22nd on the Cypress Creek course at
Greystone Country Club in Cabot. The
format will be a 4-person team scramble
and the registration fee is $400 per
team. Due to the success of last year’s
tournament, we will be limiting the
number of teams to the first 32.
11:30 am – Registration & Lunch
1:00 pm – Shotgun Start
6:00 pm – Awards Presentation
Prizes will be awarded to the top three
teams in two flights for each round.
There will also be prizes for the longest
drive and closest to the pin.
Hole in One Prizes:
GMC Truck
provided by Everett Buick GMC
$25,000
provided by SWBC
AFCU.org and Arkansas Federal’s New Online Account
Access and Bill Pay launches April 26th!
In the coming weeks, you’ll be receiving additional information on these changes.
If you have any questions regarding these changes, call 982-1000 in central Arkansas
or toll free 800-456-3000 for more information.
For more information or to register
your team, contact Marketing at
501-533-2259, 800-456-3000
ext. 2259, or [email protected].
AFCU Donates $89,634.98 to Arkansas Children’s Hospital
On January 27th, Arkansas Federal CEO/President Larry Biernacki,
presented an $89,634.98 check to Arkansas Children’s Hospital
Foundation President, John Bel.
Arkansas Federal employees and members raised $44,817.49 this past year
through several fundraising events, including the 4th Annual Arkansas
Federal Golf Classic, candy sales, and two Bunko Bash events. Arkansas
Federal’s Board of Directors voted to match the money raised by employees
and members, bringing this year’s total donation to $89,634.98.
All of the money donated by Arkansas Federal to Arkansas Children’s
Hospital will help fund the ENT Clinic Waiting Room, which will be
located in the new ACH South Wing, set to open in 2012.
Since 1998, Arkansas Federal has contributed over $500,000 to
Arkansas Children’s Hospital.
AFCU.org
page three
JOB CHANGE?
Members Elected To The Board of Directors
th
At the 54 Annual Membership Meeting of
Arkansas Federal Credit Union, was held
Thursday, March 25, 2010, two members were
elected by acclamation to serve a three-year term
on the credit union’s Board of Directors; those
Jerry Spratt Garold L. White members are Jerry Spratt and Garold L. White.
Don’t Ignore Your Retirement Plan Dollars.
A Message from Mike VanBokhoven
Arkansas Federal Financial Services Program
It is probably one of your biggest assets.
Don’t ignore it. People change jobs all the
time, but many forget some important details
– like their retirement plan money and leave
it in their old employer’s sponsored pension
or 401(k) plan.
YOUR PRIVACY NOTICE
THIS IS YOUR PRIVACY POLICY DISCLOSURE AND INSTRUCTIONS. IT
CONTAINS IMPORTANT INFORMATION CONCERNING OUR PRIVACY
POLICY AND INCLUDES NECESSARY DISCLOSURES AS REQUIRED BY
THE GRAMM-LEACH-BLILEY ACT (15 U.S.C., CH. 94, §6801 ET SEQ.)
AND THE NATIONAL CREDIT UNION ADMINISTRATION RULES AND
REGULATIONS (12 CFR 716). PLEASE BE CERTAIN TO READ THESE
DISCLOSURES AND INSTRUCTIONS CAREFULLY AND NOTIFY US AT
ONCE IF ANY PARTS ARE UNCLEAR.
Categories of information We collect. We collect nonpublic personal
information about You from the following sources:
• Information We receive from You on applications or other forms;
• Information about Your transactions with Us, Our affiliates, or others; and
• Information We receive from a consumer reporting agency.
Categories of information and parties to whom We disclose
information about existing and former members. We do not disclose
any nonpublic personal information about Our members or former
members to anyone, except as permitted by law.
Information disclosed to service providers and joint marketing
companies about existing and former members. We may disclose the
following information to companies that perform marketing services on
Our behalf or to other financial institutions with whom We have joint
marketing agreements:
• Information We receive from You on applications or other forms,
such as Your name, address, social security number, assets, and
income; and
• Information about Your transactions with Us, Our affiliates, or
others, such as Your account balance, payment history, parties to
transactions, and credit card usage; and
• Information We receive from a consumer reporting agency, such as
Your creditworthiness and credit history.
Our policy and practices on protecting the confidentiality and
security of information We have about You. We restrict access to
nonpublic personal information about You to those employees who
need to know that information to provide products or services to You.
We maintain physical, electronic, and procedural safeguards that comply
with federal regulations to guard Your nonpublic personal information.
2009 ANNUAL REPORTS
NOW AVAILABLE
To request a copy of the 2009 Annual Report, contact the
Call Center at 501-982-1000 or 800-456-3000, or you
can visit any AFCU branch office to pick up a free copy.
Mobile.AFCU.org
Mike Van Bokhoven
Could this be you? If so, you really owe it to
your future to consider where to put the retirement assets
you’ve worked so hard to build up. The wrong move could
cost you thousands and greatly affect the quality of your
retirement years.
One option is to consider moving over any retirement plans
from a former employer into an IRA.
Benefits include:
• Simplicity – Consolidate your retirement assets into one
IRA. It will simplify your record keeping and give you a
better picture of your overall portfolio.
• Eliminate Investment Overlap – Having several
accounts can have you holding many of the same type of
investments in each account, and cause you to be out of
balance for your set of financial circumstances.
• Wider Array of Investment Choices – It is very common
for employer plans to have only a few investment options.
Rolling assets into an IRA will literally give you thousands
of investment choices.
• Roth Conversions – Once your plan is rolled into a
traditional IRA, you may be able to convert it to a Roth
IRA. You can only convert to a Roth IRA if your income
does not exceed $100,000 and you file a joint return if
married.
• Beneficiary Distribution Options – Many employer
plans have very limited and rigid beneficiary distribution
options, especially for non-spouse beneficiaries. Rolling
your assets into an IRA offers many additional flexible
distribution pay out options, such as the “Stretch
IRA”(paying out the death proceeds over multiple
generations of beneficiaries).
Need help deciding what option is best for you? Contact
Mike VanBokhoven, Arkansas Federal Financial Services
Representative serving the members of Arkansas Federal Credit
Union at 501-533-2101 for a no-cost, no-obligation Retirement
Assets Consultation. Today is the best time to get started!
Representatives are registered, securities are sold, and investment advisory
services offered through CUNA Brokerage Services, Inc. (CBSI), member
FINRA/SIPC, a registered broker/dealer and investment advisor, 2000
Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Nondeposit
investment and insurance products are not federally insured,
involve investment risk, may lose value and are not obligations
of or guaranteed by the financial institution. CBSI is under contract
with the financial institution, through the financial services program, to make
securities available to members.
B2MM-0405-24A3
page four
There has been a lot of information in the news lately about the upcoming changes to Overdraft Protection and Arkansas Federal wants to
make sure you are informed. Recently the Federal Reserve Board has made changes Regulation E, which will require consumers to Opt-In to
overdraft protection for Debit Card and ATM transactions.
AFCU understands that mistakes happen and sometimes there are unanticipated expenses or unforeseen problems that can overdraw your
checking account. We want to save you from the inconvenience, embarrassment, additional merchant fees and possible damage to your credit
history that might result if a Debit Card or ATM transaction were returned. Currently, AFCU members benefit from three levels of overdraft protection:
• Your Arkansas Federal VISA® or Platinum Rewards MasterCard® is automatically advanced to
cover the incoming item.
• If you do not have an Arkansas Federal VISA® or Platinum Rewards MasterCard®, overdrafts
are covered by transferring funds from your Share Savings Account.
• If funds to cover the overdrafts are not available from other sources, then eligible members
have a third line of defense with Privilege Pay. Privilege Pay will pay any item presented
for payment against your AFCU checking account that might cause your account to be
overdrawn up to $500.
Beginning August 15, 2010, we will no longer be able to continue to offer the beneficial service
of Privilege Pay for Debit Card or ATM transactions unless you choose to Opt-In. If a member
chooses to Opt-In, then the process will continue as it does today; Privilege Pay will continue as
the third and final line of defense.
This regulatory change will not affect other transactions like checks or ACH items; we will
continue to handle those transactions just as we do today! AFCU will provide our members with
further information about how they can Opt-In to the Privilege Pay service prior to the August
15th deadline. Remember, even if you choose to Opt-In for Privilege Pay you retain the ability to
Opt-Out at any time. If you have any questions regarding the regulatory changes please visit a
convenient branch location or call 501-982-1000 or 800-456-3000.
IMPORTANT NOTICE
Keep Your Account Active
This is to inform you that the rates for Term Life Insurance
coverage on any insured loan(s) will increase effective May
1, 2010. The new Term Life Insurance rate per $1,000 of
outstanding loan balance is $1.00 for the Single Insured Plan,
$1.70 for the Joint Insured Plan and $2.47 for the Disability
Insured Plan. There is no action necessary on your part to
continue your coverage.
Inactive accounts are defined as accounts that have less than $200 on
deposit and have had no activity (deposits, transfers, loans, etc.) in
the previous 12-months. To cover the costs of mailing statements, and
administrative upkeep on an inactive account, a $25-per-quarter fee is
charged to inactive accounts. You can avoid being charged this fee by
simply keeping your account active. Call 982-1000 or 800-456-3000
if you have any questions.
Help Your Credit Union Protect Your Identity
During the months of April and October, in conjunction with Arkansas Better Business Bureau’s Secure Your Identity Day, AFCU will
be requesting members to verify personal information and make updates as necessary during interactions with an AFCU Team
Member. All of this is part of our on-going effort to protect members’ identities and continue the fight against fraud.
Arkansas Federal is sponsoring the Arkansas Better Business Bureau’s “Secure Your Identity Day” on April 17th from 10:00 a.m. to
2:00 p.m. AFCU Representatives will be at the BBB office in Little Rock to help answer any questions that you may have about ID
Theft and Fraud. Free shredding services will be provided, so bring any confidential information that you want destroyed to any
of the following locations:
Better Business Bureaus’ Office - 12521 Kanis Road - Little Rock
The Bears Den - Corner of Salem and Dave Ward Drive - Conway
AFCU.org
If you don’t
need it,
destroy it –
responsibly!
Fiser Kubota Tractor and Implement - 702 Wier Road - Russellville
Clean and Beautiful Society - Sarason Landing - Pine Bluff
page five
AFCU INFORMATION
AFCU BRANCH LOCATIONS
Fort Smith Branch — 7887 Phoenix Ave.
Open Monday-Friday from 9:00 a.m. - 6:00 p.m.
Little Rock Branch — 1001 W. Capitol Ave.
Open Monday-Friday from 7:30 a.m. - 5:00 p.m.
West Little Rock Branch — 1221 S. Shackleford Rd.
Open Monday-Friday from 9:00 a.m. - 6:00 p.m.
North Little Rock Branch — 4848 North Hills Blvd.
Monday - Thursday from 9:00 a.m. - 5:00 p.m.
Friday from 9:00 a.m. - 6:00 p.m.
Cabot Branch — 100 S. Rockwood Dr.
Monday - Thursday from 9:00 a.m. - 5:00 p.m.
Friday from 9:00 a.m. - 6:00 p.m.
Bryant Branch — 115 Harvest Dr.
Open Monday-Friday from 9:00 a.m. - 6:00 p.m.
Hot Springs Branch — 1607 Albert Pike, Suite F
Monday - Thursday from 9:00 a.m. - 5:00 p.m.
Friday from 9:00 a.m. - 6:00 p.m.
Jacksonville Branch — 2424 Marshall Rd.
Monday - Thursday from 9:00 a.m. - 5:00 p.m.
Friday from 9:00 a.m. - 6:00 p.m.
Conway Branch — 220 Skyline Dr., Hwy. 65 North
Open Monday-Friday from 9:00 a.m. - 6:00 p.m.
Searcy Branch — 727 West Beebe Capps
Monday - Thursday from 9:00 a.m. - 5:00 p.m.
Friday from 9:00 a.m. - 6:00 p.m.
UALR Branch — Stabler Hall, Suite 110
Open Monday-Friday from 10:00 a.m. - 6:00 p.m.
Camp Robinson Branch — Bldg. 5305, MWR Complex
Open Monday-Friday from 9:00 a.m. - 5:00 p.m.
Little Rock Air Force Base Branch — 779 6th St.
Open Monday-Friday from 7:30 a.m. - 5:00 p.m.
AFCU ATM ONLY LOCATIONS
Verizon Walk Up ATM
#1 Allied Drive, Building 3, First Floor Lobby
Cabot Drive Up ATM
2241 Bill Foster Memorial Hwy.
Dickey Stephens Park Walk Up ATM
400 West Broadway - North Little Rock
Federal Building Walk Up ATM
700 W. Capital Ave., First Floor - Little Rock
LRAFB Drive Up ATM
Building 940 at Arnold Drive
LRAFB Exchange Walk Up ATM
787 6th Street
LRAFB Shoppette Drive Up ATM
Building 1996, Arnold Drive & Arkansas Boulevard
Rogers Drive Up ATM
2000 West Walnut Street
Searcy Drive Up ATM
2311 W Beebe Capps - Searcy
State Capitol Walk Up ATM
First Floor Lobby - Little Rock
UALR Stephens Center Walk Up ATM
28th & University Avenue
UALR Student Center Walk Up ATM
2801 South University Avenue
UCA Student Center Walk Up ATM
201 Donaghey Avenue
Walmart Supercenter Drive Up ATMs
Jonesboro – 1807 E. Highland Drive
Searcy – 3509 East Race Street
Conway – 3950 Dave Ward Drive
Pine Bluff – 5601 South Olive Street
Hot Springs – 1605 Albert Pike
NEW AFCU BENEFIT PARTNERS
Employers in today’s labor market must continually strive to provide competitive benefit packages
to attract and retain qualified employees. You can gain the competitive edge at no cost by providing the
option of credit union membership to your employees.
As a partner with Arkansas Federal, employees of your company or members of your association will have
the option of using full service, quality financial products and services such as Free Checking, competitive
loan rates, great savings rates and access to AFCU accounts around the clock with services such as Free Online
Account Access, AFCUDeposit, Unlimited Free Internet Bill Payment, and Touch-Tone Teller.
Several new partners have decided to make AFCU’s products and services available to their employees/
members over the past few months. We want to take this opportunity to welcome each one of them to
the Arkansas Federal Credit Union family!
Pirates Maintenance and Landscaping, LLC,
Fort Smith, AR
A-Plus Medical Supply Inc., Mabelvale, AR
Ron Sherman Advertising, Little Rock, AR
Hagans Dodge Chrysler Jeep Motors Inc.,
Morrilton, AR
Employees of Texas Transco, Searcy, AR
Central Baptist College Students, Conway, AR
South East Water Association Public Water Utility,
Higginson, AR
Clark Contractors, Little Rock, AR
Bryant Public Schools, Bryant, AR
Housing Authority of the City of Morrilton,
Morrilton, AR
Chirowest, PA dba Alternative Health Solutions,
Little Rock, AR
Chambers & Pennington, Inc., Glenwood, AR
Law Offices of Bennet and Williams, Conway, AR
Primrose United Methodist Child Care Center,
Little Rock, AR
Texas Roadhouse, Little Rock, AR
Arkansas Medical Supply, Little Rock, AR
Champion Wood Floor Design and Installation Inc.,
North Little Rock, AR
Tell your co-workers and family members about the great benefits available at AFCU, and
invite them to join Arkansas Federal Credit Union. If you know of a business that would like to
offer credit union membership to its employees, please call the Marketing Department at
501-533-2219 or 800-456-3000 ext. 2219.
Member Education Seminars
Arkansas Federal members enjoy many benefits such as the educational seminars and workshops
intended to educate members and help them improve their financial life. If you are interested in
one of the financial education seminars below, call AFCU at 501-533-2101 in central Arkansas or
800-456-3000, ext. 2101 outside central Arkansas to register or for more information.
Retirement Investment Strategies
North Little Rock Branch
Thursday, April 22nd @ 5:30 pm
West Little Rock Branch
Tuesday, May 18th @ 5:30 pm
Jacksonville Branch
Thursday, June 17th @ 5:30 pm
P H ONE NUMBERS
Central Arkansas:
Fort Smith Local:
Conway Local:
Cabot Local:
Bryant Local:
Searcy Local:
Hot Springs Local:
Toll-Free Services:
TDD Number:
FAX Number:
501-982-1000
479-782-1000
501-329-1000
501-743-3000
501-847-1695
501-268-4762
501-623-8363
800-456-3000
501-982-8732
501-982-FAXX
24 -HOUR TOUCH TONE TELLER
501-982-AFCU (2328) or toll free 800-982-AFCU (2328)
MAILING ADDRESS
P.O. Box 9, Jacksonville, AR 72078-0009
INTERNET BRANCH
AFCU.org
E-MAI L
[email protected]
These branches have a
24/7 Xpress Branch self
service lobby open to
members 24 hours a day.
page six
The Banner is the official quarterly publication of Arkansas Federal Credit Union. Comments and suggestions should be addressed to:
Marketing Department
Arkansas Federal Credit Union
P.O. Box 9, Jacksonville, AR 72078-0009
The Arkansas Federal Credit Union Banner Newsletter does not represent legal, accounting,
or other professional advice. Although we try to ensure the information contained is accurate,
no party assumes liability for loss or damage due to dependence on this material
We also have over 4,000 Branch offices at
Credit Union Service Center locations in all
50 states and eight foreign countries to serve
you. To find a location near you, go to
www.cuservicecenters.com.
Mobile.AFCU.org
Your savings federally insured to at least $250,000
and backed by the full faith and credit of the
United States Government. National Credit Union
Administration, an agency of the federal government.
In addition to Federal Insurance,
members’ savings in the credit union
are insured with an
additional $250,000 of coverage.
We do business in accordance with
the Federal Fair Housing Law and the Equal
Credit Opportunity Act