Connections - Guthrie Federal Credit Union

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Connections
A PUBLICATION FOR GUTHRIE CREDIT UNION MEMBERS
104 N. Elmer Ave.
Sayre, PA 18840
2015winter
Connections
President’s Message
NEWSLETTER
“A Place YOU Belong”
Please open and read...
Sayre Office
104 N. Elmer Ave.
Sayre, PA 18840
(570) 888-7135
Fax: (570) 882-9564
Features and Benefits of a Guthrie Federal Credit
Union Visa® Credit Card
Guthrie FCU has the answer to your credit card predicament with an extremely valuable Visa Credit
Card that is superior to much of the overall credit card competition. When shopping for a credit
card, please consider these features and benefits associated with a Guthrie FCU Visa Credit Card:
• Low standard FIXED interest rate, with rates as low as 8.99% APR.*
• NO CASH ADVANCE FEE AND NO INCREASED CASH ADVANCE INTEREST RATE! The
fixed rate that you qualify for on credit purchases is also the same credit rate for cash
advances. No increased interest rate, or fee, on GFCU Visa cash advances.
• There is a twenty-five (25) day grace period on all point of sale purchases before any interest
is charged for the transaction.
• With every GFCU Visa transaction, you earn points for ScoreCard® Rewards. These
ScoreCard Reward points can be redeemed for other merchandise, including various
merchandising store/outlet gift cards, or even national restaurant gift certificates, as well as
travel air miles.
• ScoreCard Reward points may be combined with your Guthrie FCU MasterCard® Debit Card
points, or even other GFCU member household card holder points!
• No balance transfer fees.
• No annual credit or cardholder fee.
• No transaction fees for purchases.
• No minimum finance charges and no hidden fees.
• No increased interest rate for late payments. Even if you are late with your monthly payment,
your interest rate on the GFCU Credit Card remains fixed and will not change, as there is no
“default interest rate” associated with a GFCU Visa Credit Card.
• Minimum late fee of $20 does exist for any monthly payment made later than 10 days from
the original monthly due date of the credit card; therefore, the grace period on late GFCU
Visa Credit Card payments is 10 days.
So, please consider all these benefits and rewarding features to the Guthrie FCU Visa Credit
Card when you shop for your personal credit card, and remember, Guthrie Federal Credit Union
is a place YOU belong!
*APR = Annual Percentage Rate.
Required Annual
UCC4A Disclosure
UCC4A Disclosures must be provided to any
member or business receiving or originating Cash
Concentration or Disbursement (CCD) and
Corporate Trade Exchange (CTX) credit entries
via the ACH Network: (Reference 2008 ACH Rules
Ref(s): Article 2.1.10, Notice by ODFI, & Article
2.1.11, Notice by RDFI, page OR 4).
Provisional Payment Disclosure
Credit given by us (Guthrie Federal Credit Union)
to you (Credit Union Member) with respect to an
automated clearing house credit entry is provisional
until we receive final settlement for such entry
through a Federal Reserve Bank. If we do not receive
such final settlement, you are hereby notified and
agree that we are entitled to a refund of the amount
credited to you in connection with such entry, and
the party making payment to you via such entry
(i.e. the originator of the entry) shall not be deemed
to have paid you in the amount of such entry.
Notice Disclosure
Under the operating rules of the National
Automated Clearing House Association, which
are applicable to ACH transactions involving your
account, we are not required to give next-day
notice to you of receipt of an ACH item and we
will not do so. However, we will continue to notify
you of the receipt of payments in the periodic
statements we provide to you.
Choice of Law Disclosure
We may accept on your behalf payments to your
account that have been transmitted through
one or more Automated Clearing Houses (ACH)
and that are not subject to the Electronic Fund
Transfer Act, and your rights and obligations with
respect to such payments shall be construed
in accordance with and governed by the laws
of the state of Pennsylvania as provided by
the operating rules of the National Automated
Clearing House Association, which are applicable
to ACH transactions involving your account.
Office Hours
Monday, Tuesday & Wednesday
9:00 AM – 4:30 PM
Thursday
9:00 AM – 5:30 PM
Friday
8:00 AM – 6:00 PM
Sayre drive-up window open
Monday – Thursday at 8:30 AM,
Fridays at 7:30 AM
Troy Office
454 Canton St.
Troy, PA 16947
(570) 297-2440
Fax: (570) 297-0589
Office Hours
Monday, Tuesday & Wednesday
9:00 AM – 4:30 PM
Thursday
9:00 AM – 5:30 PM
Friday
8:00 AM – 6:00 PM
Troy drive-up window hours are
the same as the lobby.
T.E.D.
(570) 888-7135
Toll-Free: 1-877-493-6161
www.GuthrieFCU.org
Dear Members,
Happy New Year! As we reflect back on 2014, I wanted to take this
opportunity to update you on our accomplishments this past year.
Guthrie Federal Credit Union continued to grow in several key areas,
including membership and capital. We added several new “Select Employer
Groups” to our field of membership this past year, which contributed to
membership growth in excess of our peer credit unions. Also, during 2014,
our capital ratio grew in excess of 100 basis points to 10.51% and we
remained “Well Capitalized” by NCUA regulations.
During the first half of 2014, we enhanced our digital technology infrastructure
by adding mobile bill pay and mobile check deposit to our mobile banking
app. These new services have provided members the added convenience
and capability to pay their bills and deposit their checks day or night. Best of
all, they are “free” to Guthrie Federal Credit Union members.
Throughout 2014, we offered multiple loan promotions as members
took advantage of the continued low-rate environment. Our members
“Celebrated Financial Freedom” with our Visa® balance transfer special of
0.00% for six months or 1.99% for 19 months. We took the stress out of this
past holiday season with our “Holiday Loan Special”, which featured rates as
low as 1.99% APR* for 24 months. All of our specials this past year were very
popular products for the membership.
As major data breaches continued during 2014, Guthrie Federal Credit Union
made IT system and infrastructure testing our top priority in order to further
protect your data. We have gone through multiple system penetration tests
and implemented new controls to improve upon the strength and security of
our IT systems.
Finally, all of us here wish you all the best in 2015 and we look forward to
serving you. During 2015, we have plans to introduce several new products
and services, all with the hopes of enhancing your credit union experience.
Thank you again for your ongoing support.
Sincerely,
John A. Savelli
President/CEO
*APR
= Annual Percentage Rate.
Guthrie FCU
Board of Directors
John E. Detrick
Bill Hickey Bernard L. Smith Kevin Raupers Teresa Bustin
Joann Gillott Roberta Sabitus-Place John M. Simonds Heather Vail
Chairman
Vice-Chairman
Treasurer
Secretary
Board Member
Board Member
Board Member
Board Member
Board Member
Supervisory Committee
Michael Nagar Teresa Bustin
Gary Gee
David Larson
Gary Reeves
Chairman
GFCU Staff
Administration
John Savelli President & CEO
Lending Department
Ken Seaver Kathy Janosko Judy Riopko Jamie Houghton Danielle Ulrich Patricia Wheeler V.P. of Lending
& Compliance
Mtg. Loan Officer (2)
Loan Officer
Loan Officer
Loan Processor
BSA Officer/Ft Desk
Operations Department
Kate Bonning Jennifer Heath Katie Hunter Martha Schultz Dusty Bombacie Deb Townsand Liz Saxon Jeannie Brown Tammy Tunnicliff Beth Bailey Melissa Crockett V.P. of C.U. Operations
Acct. Specialist
Card Service Rep.
E.F.T. Coordinator
MSR Supervisor
New Acct/Phone MSR
P/T MSR
P/T MSR
MSR
MSR
MSR
Finance Department
David Noordhoek
Jonah Geib Shannon McCarty
V.P. of Finance
Tech Specialist
Accounting Clerk
Troy Branch Office
Bonnie Parsell Todd Bacon
Chase Ripley Michelle Gleason Loan Officer
Operations Clerk
MSR
MSR
Holiday Closings
Presidents’ Day
Monday, February 16
Memorial Day
Monday, May 25
How does any business,
or organization, become
a part of Guthrie FCU?
GFCU Board of Directors Elections
and Annual Meeting Notice for 2015
The Guthrie Federal Credit Union Annual Meeting for 2015 will be held
Saturday, March 21, 2015, at 6:00 PM. The meeting will be held at the
Sons of Italy, located at 301 Desmond St. in Sayre, PA.
All GFCU members are welcome to attend; please make reservations with
Guthrie FCU prior to the event if you wish to attend.
There will be no election for the three available positions on the Guthrie
Federal Credit Union Board of Directors. The Nominating Committee
submitted three candidates, and they were posted in both GFCU branch
office locations in Sayre and Troy, as well as in the Fall 2014 GFCU
newsletter. At that time, members interested in serving on the GFCU Board
of Directors were invited to submit petitions for inclusion on the ballot. The
deadline for these submissions was November 30, 2014. Since no petitions
were received by the deadline, and the Nomination Committee had already
submitted three incumbent candidates for the three vacant positions, there
will be no voting this year at the Annual Meeting. In lieu of elections, the
Nomination Chairperson will request the Secretary to cast one ballot for the
slate of officers, as presented at the Annual Meeting.
Guthrie Federal Credit Union is pleased to present the following slate of officers:
John E. Detrick – Joined the credit union and became a member in 1986.
Mr. Detrick obtained an Associate’s Degree from Mansfield University and
has been employed with Guthrie Healthcare System since 1986.
Mr. Detrick works in the IT Services area within Guthrie Healthcare. He has
been a four-time Board Chairman of Guthrie Federal Credit Union, and he
is also currently serving as the head of the GFCU Personnel Committee.
He has served as a volunteer to Guthrie Federal Credit Union in a variety of
different capacities over the past 19 years. Mr. Detrick has a daughter, who
is very interested in volleyball, and he enjoys spending time with her and
showing his support for her and her future aspirations.
Heather Vail – Married to Francis (Red) Vail, with two grown sons, Mark
and Shawn, who are both also married. She also has three grandchildren,
plus two rescue dogs, Abby and Rosie. Mrs. Vail lives in Sayre, PA and is a
retired Nurse Manager with 43 years of medical employment history. Prior
educational background encompasses graduation from Robert Packer
School of Nursing, RN certifica­tion, as well as multiple management
and leadership course certifications, including a variety of credit union
conference training. Mrs. Vail has been a Guthrie Federal Credit Union
member for approximately 33 years and she has served on the GFCU
Supervisory Committee, Personnel Committee and Finance Committee.
Mrs. Vail has also previously serviced GFCU as the Chairperson of the GFCU
Board of Directors. Mrs. Vail has been a volunteer GFCU board member
for approximately 17 years and she has enjoyed serving the membership of
Guthrie Federal Credit Union.
Teresa Bustin – Has 18 years of prior experience working for Guthrie
Healthcare System in various roles, concluding her GHS employment
service as a Senior Project Coordinator in the Organizational Development
Department. In 2003, Mrs. Bustin returned to school and obtained a B.S.E.
in Secondary Social Studies from Mansfield University, and in the fall of 2005
began teaching at Athens Area High School. In 2009, Teresa earned her
Master’s Degree in Education with a concentration in 21st-century teaching
and technology from Wilkes University. She is the advisor for the Athens
Area High School Scholarship Challenge team and also serves on the board
for Stray Haven Humane Society. She became a member of GFCU in 1986,
serving as a volunteer board member for several years and is a current
member of the Supervisory Committee. Mrs. Bustin resides in Sayre with her
husband, Ed, and their German Shepherd, Maya.
Credit Cards – Advice from the
Office of the Attorney General
It is effortless to dig a financial hole with credit cards. Paying minimum
balances on a high interest rate credit card can make even inexpensive items
cost a lot, in both the interest you pay today and what you may pay in the
future. Your borrowing and payment habits right now establish the foundation
of your credit history. Never borrow or charge more than you can pay back;
pay on time and, if possible, in full.
Credit Card Approval - Under federal law, students between the ages of 18
and 21 must show an ability to pay or obtain a co-signer to get a credit card.
Things to consider when shopping for a credit card: Before you sign on for
any credit card, do your homework and look for the best deal!
Be sure to consider the following:
• No or low annual fees: Some cards charge a fee just for having the card.
• Interest rates: Look for the credit card that offers the lowest interest rate (the “Annual Percentage Rate” or “APR”) and the lowest fees. Watch out for
cards that have a low introductory rate that goes up at some future time.
• Default interest rates: If you miss a pay­ment or pay less than the
minimum, the credit card issuer will increase the interest rate on your
existing balance and all future purchases to a much higher default inter­est
rate. When shopping for a card, look for the card’s default interest rate.
Under federal law, credit card issuers must return your interest rate to the
previous lower rate after six consecutive on-time payments.
• Beware of “freebies”: Credit card com­panies sometimes lure consumers
to apply for credit cards by offering free items, without offering the
best terms. Federal law prohibits credit card companies from offering
“freebies” when marketing on or near college campuses or events.
• Be cautious of college-branded credit cards: Some colleges have agreements with credit card issuers that permit the company to mar­ket co-branded credit cards to students in return for payments to the schools. These often benefit the school, but don’t offer the best terms to the students. Look closely at the APR and fees of co-branded cards, as you should at any other.
When using a credit card:
• Avoid interest and late fees. Pay bills on time to avoid hefty late fees
and/or increased interest rates. Pay the entire amount owed and avoid
interest charges.
• Beware of over-the-limit fees. Federal law prohibits credit card issuers
from charg­ing over-the-limit fees, unless you affirma­tively “opt in” to
over-the-limit coverage. Don’t opt in, because you can be charged
significant fees if you exceed your credit limit.
• Be wary of cash advances. The interest rate on cash advances is
generally much higher than the interest rate charged on point of sale
transactions or purchases.
It’s easy, and this is a great employee
benefit; plus – it’s free! Simply state
your business or organizational interest
in allowing our credit union to serve the
financial needs of your employees or
members of your organization. Below
is a sample format letter, outlining the
requirements for requesting affiliation with
Guthrie Federal Credit Union as a Select
Employee Group (SEG). Your letter to
GFCU requesting enrollment as a SEG
must be on your company letterhead.
Please see the outline below:
Provide the current date of submission
along with the request for enrollment on
your company letterhead, and mail to:
Guthrie Federal Credit Union
Attn: John A. Savelli, President/CEO
104 N. Elmer Ave., Sayre, PA 18840
To Whom It May Concern:
My name is ______________________ and
I am the Owner/President/Chief Executive
Officer of _________________________. We
are a local business with _____________
[insert number of employees] employees,
who work, or are supervised, at our facility
located at __________________________,
located within approximately ____ miles
from your credit union corporate office at
104 N. Elmer Ave., Sayre, PA 18840.
Although we offer our employees an
excellent benefit package, we do not
presently have a direct affiliated credit
union serving the needs of our business
employees. We would like to be added
to Guthrie Federal Credit Union’s field of
membership as a select employee group
(SEG), so that our employees, as well as we
ourselves, may join your credit union to take
advantage of your products and services.
I understand this request will be submitted
to your regulator, the National Credit
Union Administration, and then to your
GFCU Board of Directors for approval. I
look forward to hearing from you as soon
as the process has been completed.
Sincerely,
Name of business/organization seeking
enrollment to GFCU as a “select
employee group” (SEG) and the
signature of one (or all) of the business’s/
organization’s leading executive officer(s).