52ND ANNUAL MEETING

VOLUME 26, NUMBER 1
52ND ANNUAL
MEETING
FLORENCE
FEDERAL
CREDIT
U NI O N
News
Move Your Auto
Loan Here!
During the month of April, the credit union will be
having an auto loan refinance promotion. You can
move your auto loan to the credit union from
another financial institution, and you will get a Visa
Gift Card! Our auto loan rates are as low as 2.95%
apr! The auto loan you refinance must be $5000.00
or more, and it must be moved to the credit union
from another financial institution. Certain restrictions
may apply. Call or come by the credit union in April
for more details!
We hope that everyone will make
plans to attend the
52nd Annual Florence Federal Credit
Union Business Meeting on Friday
April 27th at 7:00 pm. The meeting
will be held in the Christian Life
Center at Highland Baptist Church.
There will be lots of food and
giveaways for everyone (1130) to
enjoy. Hope to see you there!
MARCH 2012
FIND YOUR
ACCOUNT NUMBER?
Each issue has some account numbers
(in parenthesis). If you find your
account number come
to the Credit Union &
win $25.00. All winners
will have until April 30, 2012
to claim their prize. The winners from
the last quarter were Herbert Robinson,
Ella Pride, Scott Berry, and
Lashondra Hampton.
TEACHING YOUR KIDS HOW TO SAVE
Teaching your kids how to save for the future is one of the most valuable gifts you can give them. They'll not only learn the
lessons a regular discipline can provide, but also benefit from the funds that accumulate. Here are the four M's of getting
your kids into a habit they can live with:
1. Model the behavior. "Do as I say, not as I do" is almost always an ineffective strategy. If you want your kids to learn
to save, you can't spend every penny of your income every month. Save something, even if it's only your spare
change.
2. Make it automatic. If you provide an allowance, specify that some percentage of it must be deposited in the child's
share savings account at the credit union.
3. Motivate with matching funds. Set up 40l (k) type fund. Agree to match a portion of whatever your child is saving. For
example, if your children earn money for doing extra chores around the house or get money as a gift, agree to match
part or the entire amount they put in savings instead of spending.
4. Make it a family affair. Decide on a goal. It can be big or small: a vacation trip to Disney World or a new video game.
Make a pact that family members will save funds, according to their abilities, until they have saved enough to reach
the goal. Make it more real by having the kids decorate a container with pictures of the goal. Place money in the
container daily or weekly, and then bring it to the credit union as needed to deposit in a special savings account.
Periodically, show your kids the account balance and talk about the progress being made towards the goal.
STILL TIME FOR 2011 IRA
Even though you've retired your 2011 calendar, there's still a 2011 "to-do'"
to check off your list: Make a contribution to your Individual Retirement
Account for the 2011 tax year. Contribute up to $5,000 ($6,000 if you are
age 50 or older) to either (583) a traditional IRA or a Roth IRA. This year,
you even have two extra days to do so. April 15 is the traditional tax filing
deadline, but because it falls on a Sunday, and Monday, April 16 is a holiday
(Emancipation Day) in the District of Columbia, tax day in 2012 is Tuesday,
April 17. But why wait? The sooner you open or add to an IRA, the sooner
you will reap the benefits of this tax-advantaged way to save for your
retirement. For all the tax details, check out Publication 590 at www.irs.gov
or contact your tax adviser. To open or contribute to an IRA, stop by the
credit union.
Holiday Closings
MEMORIAL DAY
Monday, May 28, 2012
Main Office
1505 North Pine St.
Branch
501 E. Tennessee St.
Post Office Box 2817
Florence, AL 35630
256-767-4700
VOLUME 26, NUMBER 1
FLORENCE FEDERAL CREDIT UNION NEWS
VACATION LOANS
BEGIN SOON!
The Vacation Loan Special will be starting Tuesday, May
29th and will end on Friday, July 6th. Members may borrow
up to $2500.00 for one year based on Credit Union
criteria. During the Vacation Loan Special any approved
applicants may be eligible for a drawing at the conclusion
of the Loan Special.
IDENITY THEFT
More Than a
Financial Problem
FFCU MEMBERS
SAVE THOUSANDS
WITH INVEST
IN AMERICA
At Florence Federal Credit Union we know you
work hard to earn your money. And we think you
should you should keep as much of it as possible.
That’s why we’ve teamed up with Invest in
America to bring you savings on the things you
buy every day from trusted American companies.
Save thousands on everything from your cell
phone bill with Sprint or a brand new GM vehicle
to online discounts at over 1,200 major retailers
with Shop America.
Discover how much you could save. Contact the
credit union or visit LoveMyCreditUnion.org.
Identity theft is defined as the process of using someone else’s personal information for personal gain.
Identity theft can happen to anyone, and it can come in all shapes and sizes. According to the FTC,
there are more than 30 types of identity theft affecting millions of Americans each year. Your credit card
digits could be stolen and used to make online purchases; a thief could impersonate you to open up a
loan in your name; a felon could commit a crime and pretend to be you when caught; or someone could
use your personal information to apply for a job.
As a Checking account holder at Florence Federal Credit Union, if you or a family member* suspects any
type of identity theft, please contact us. We will provide a certified identity Recovery Advocate who will
place fraud alerts at the three major credit bureaus for you; help you access services to watch for signs
of identity theft; and access your credit reports and conduct a threat assessment to determine if any
identity theft has occurred. If you are the victim of identity theft of any kind, related to financial accounts
or to medical, employment, government benefits or other sources,, your advocate will work on your
behalf to restore your identity and make sure you stay recovered – no matter how long it takes.
For details, please contact us at 256-767-4700 or visit www.ffcuonline.com/identitytheft
Just a reminder that the rent for safe deposit boxes will
be due July 1st for the time 7/1/2012 through
6/30/2013 and it will (11312) automatically be taken
from your account. Also remember that the rent has
increased since the previous year. The cost for each per
year is:
Are your records up to date with your credit union? It is important
that you keep all your credit union information accurate. That
includes your address, phone number, and e-mail address. If you
have recently moved, or are planning a move, please let us know.
We want to make sure all communication and important notices
from the credit union reach you on time. For your security, change
of address requests must be made in writing and on the proper
forms. Please contact your credit union for more information.
SUPERVISORY COMMITTEE
Jim Steele ...........................................Chairman
Beth Jordan ................................Vice Chairman
Carolyn Eck ........................................ Secretary
Good money management is a habit. It is an everyday task,
especially if you need to stick to a plan to make ends meet. Learning
how to manage your money can be difficult. Join Alabama Saves,
and get on the right track to saving money and reducing your debt.
$
Become an Alabama Saver. All you have to do is develop a specific
savings goal, (6969) have a savings account, and make a deposit
each month or make a debt payment. The Alabama Saves program
does not monitor your account. Membership benefits include the
quarterly newsletter, American Saver, tips and information to help
you reach your savings goals, and educational workshops on a
variety of financial topics at no cost to you. To enroll visit
Alabamasaves.org or contact Jessica at the credit union for more
details.
Scroll On Over To Our Website
MOVING?
BOARD OF DIRECTORS
Vance Young ......................................Chairman
Cheryl Lee .................................Vice Chairman
Dr. Kenneth Johnson ..........................Secretary
Jimmy Carringer ..................................Treasurer
Andy Betterton .....................................Member
BECOME AN
ALABAMA SAVER
Next time you go online, be sure to make a stop at the credit union's Web site
www.ffcuonline.com. We're here 24/7 with all of the latest news and
announcements from the credit union, including any special offers. Need to
stash some cash? Check out our current rates on share savings and share
certificates. Shopping for new wheels? After you have done your car-buying
homework at sites such as www.edmunds.com, www.autobytel.com and
www.kbb.com, visit the credit union's Web site (www.ffcuonline.com) to find
the loan rates and terms to fit your budget. If you're thinking of a home
improvement project, check out sites like www.doityourself.com and
www.hgtv.com for ideas and sites such as www.improvenet.com and
www.costestimator.com for ballpark figures on project costs. Then scroll on
over to the credit union's Web site to check out our great rates on home
improvement loans. Need to speak with a helpful member service
representative? Contact information is available at the click of a mouse. Your
credit union is as close as your keyboard, so stop by soon.
ATTENTION SAFE
DEPOSIT BOX OWNERS!
Small: $20.00 • Medium: $26.00 • Large: $45.00
MARCH 2012
Please Let Us Know
IT’S TIME TO WAKE UP YOUR
DORMANT ACCOUNTS!
Spring has sprung and it's time to wake up those dormant
accounts. Do you have a savings account or checking account
at the credit union that hasn't been used in the past six months
or more? If you do, please consider reactivating it by making
some type of transaction (a withdrawal or deposit). If you have
no further use for the account, please close it and transfer the
funds to an active account. Dormant accounts are a drain on
the credit union's resources which means they are a cost to all
of our members.
THE STATISTICS
The Statistics as of February 29, 2012
Assets .........................................$46,920,697.00
Shares ........................................$40,905,269.00
Loans..........................................$16,415,154.00
Credit Cards ..................................$522,503.00
Members .....................................................4331
First Mortgages
15 yr. fixed 80% of a.p.p.
or selling price 30-15-5 90 to 100% of a.p.p. or
selling price. Rates are subject to change at any
time without notice.
LOAN RATES
Visa
Auto Loans
Shares
Money Market
Christmas Club
as low as 9.80% a.p.r.
as low as 6.00% a.p.r.
SAVINGS RATES
Quarterly
Dividend
Ending
0.75 %
0.85%
0.50%
March 31,
2012
0.75% apy
0.85% apy
0.50 % apy