god bless america - Willis Credit Union

god bless america - Willis Credit Union

WILLIS CORROON CREDIT UNION
QUARTERLY NEWS
OCTOBER 2001
GOD
BLESS
AMERICA
Willis Corroon
Credit Union
26 CENTURY BOULEVARD
SUITE 101
NASHVILLE, TENNESSEE
37214
TELEPHONE - (615) 872-6380
FAX - (615) 872-6388
AUDIO RESPONSE - (877) 321-7797
EMAIL - [email protected]
HOURS
8:00 a.m. to 4:00 p.m.
(Central Time)
Monday through Friday
OFFICIALS
James O=Dell, Chairperson
Michael Vaughn, Vice Chairperson
Derrick Coggin, Secretary
Robert Bennett, Treasurer
Carol Bush, Audit Liaison
STAFF
Charles Cooper, President
Suzanne Dunn, Vice President
Carolyn Bramell, MSR/Teller
Will Dunn, MSR/Teller
This newsletter is published each
quarter by Willis Corroon Credit Union
as an information service to its
members. Questions, comments,
and suggestions should be sent to:
Charles Cooper, President
Willis Corroon Credit Union
26 Century Boulevard
Suite 101
Nashville, Tennessee 37214
THE CREDIT UNION WILL BE
CLOSED FOR THE FOLLOWING
HOLIDAYS:
THANKSGIVING
Thursday, November 22, 2001
Friday, November 23, 2001
CHRISTMAS
Monday, December 24, 2001
Tuesday, December 25, 2001
DIVIDEND NEWS
DIVIDENDS PAID ON THIRD QUARTER SHARES
All savings rates are subject to change due to market
conditions. Please call the credit union for a quote of the
current rates.
Type of Account
Rate*
APY**
Shares:
$100 to $5,000
Amounts over $5,000
Accumulative IRA
2.00%
3.75%
3.25%
2.02%
3.80%
3.29%
Share Drafts:
$400 and over
2.00%
2.02%
(No dividends paid on balances less than $400)
Christmas Club Shares: 2.00%
2.02%
(No dividends paid on balances less than $5.00)
Vacation Club Shares:
2.00%
2.02%
(No dividends paid on balances less than $5.00)
Share Certificates:
6 Months
1 Year
2 Years
3 Years
3.50%
4.00%
4.10%
4.20%
3.50%
4.06%
4.16%
4.27%
Individual Retirement Accounts
1 Year
4.00%
2 Years
4.10%
3 Years
4.20%
4.06%
4.16%
4.27%
Minimum deposit of $500 is required.
Certain penalties may apply for early withdrawals or redemption.
*Disclosed as Annual Percentage Rate
**Disclosed as Annual Percentage Yield
YOUR SAVINGS FEDERALLY INSURED TO $100,000
NCUA
NATIONAL CREDIT UNION ADMINISTRATION,
A U.S. GOVERNMENT AGENCY
CURRENT LOAN RATES
TYPE OF LOAN
RATE
Unsecured
13.5%
15.0%
Up to 24 months
25 to 36 months
MasterCard
12.0%
(No annual fee and 25 days grace period)
New Auto/
2001-02 Models
7.50%*
Boats
Up to 60 months
(Less than 15,000 miles)(100% financing available)
Minimum Loan of $18,000 up to 72 mos 7.75%
**Used Auto/Boats
2001-02 Models
Up to 60 months
(Less than 15,000 miles)
ELECTRONIC STATEMENT DELIVERY
IS POSSIBLE IF ENOUGH MEMBERS
ARE INTERESTED IN HAVING THEIR
STATEMENT SENT TO THEIR E-MAIL
ADDRESS. IF YOU ARE INTERESTED
PLEASE E-MAIL US THE FOLLOWING
INFORMATION:
YOUR NAME
YOUR E-MAIL ADDRESS
YOUR WORK TELEPHONE NUMBER
7.75%*
2000-01 Models
8.25%*
Up to 54 months
(More than 15,000 miles, NADA Wholesale Value)
Recreational
Vehicles
NEW SERVICE AVAILABLE
1995-99 Models
Up to 48 months
9.00%*
1991-94 Models
Up to 36 months
9.00%*
Up to 1990 Models
Up to 24 months
9.00%*
Terms and rates same as autos*
(Campers, travel trailers, ATV=s
Motor homes)
*Rates for these purchases may be reduced (if you qualify) by:
10 basis points with 10% equity or 25 basis points with 20% equity.
Equity is based on the NADA suggested retail price for new vehicles and
the trade-in value for used vehicles. **Used rates based on NADA tradein value. ***If amount financed on used vehicles/boats exceeds trade-in
value, but within NADA retail value, add .50%(1/2 percent).
JUST A REMINDER
If you have a MasterCard credit card with Willis
Corroon Credit Union, we now offer you the
opportunity to have your monthly payment
deducted directly from your Share Draft (checking
account) Account. Your payment will be a fixed
amount and on a fixed date each month. For
information on this new service, please contact
Suzanne Dunn at (615) 872-6382.
WHERE WE STAND
AS OF AUGUST 31, 2001
Members . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,397
Loans . . . . . . . . . . . . . . . . . . . . . . . . . $5,636,168
Shares . . . . . . . . . . . . . . . . . . . . . . . . . $6,490,173
Assets . . . . . . . . . . . . . . . . . . . . . . . . . $7,873,971
NEED A NEW CAR?
New
Motorcycles
Up to 36 months
13.0%
Used
Motorcycles
Up to 30 months
15.0%
Farm/
Garden Equipment (Must qualify)
Up to 36 months
15.0%
Stock Loans
Up to 36 months
Up to 48 months
Cash Surrender Value of Life Insurance
Up to 36 months
Up to 48 months
CHECK OUT
OUR RATES. .
LET US HELP
PUT YOU IN A
NICE NEW
ONE!
9.00%
10.0%
9.00%
10.0%
Share/Share Certificate Secured
Variable
(Minimum of 6.0% or 2.0% over earnings rate)
Note:
Loan rates are subject to change due to market conditions. Please
contact the credit union for a current quote.
Call us at
information.
(615)
872-6381
for more
THE CREDIT UNION IS HAVING A CONTEST!
FOR MEMBERS ONLY
ROTH IRAs
OFFER A REAL TAX SAVINGS
Tax-free income?
To celebrate International Credit Union Day, which
is October 18, we are having a contest; one for
those who work in the Nashville office and one for
those who work outside the Nashville area.
If you work in Nashville, a poster will be in the
credit union office with pictures of the Staff and
Board of Directors. The catch — the pictures are
of them when they were babies/children. You
must identify them. This contest will begin on
Monday, October 1, 2001 (contest ends October
18). The instructions/ballots will be available on
the table under the poster. There is a tiebreaker.
The winner will receive $25.00.
For those of you who work outside the
Nashville office:
The first International Credit Union Day was
celebrated in 1948. So — if your birthday is
October 18, 1948 please fax a copy of your
driver’s license to the credit union on Thursday,
October 18, 2001 (the copies of your license will
be shredded that day). The time on your fax must
be after midnight (not before) on Thursday,
October 18 because the first person who faxes
their license in whose birthday is October 18, 1948
will be the winner of $25.00. The date and time is
printed on the fax copy.
Join us for this time of celebration by participating
in our contest!
IMPORTANT
NOTICE
While it sounds too good to be true, the Roth
Individual Retirement Account (IRA), which
became available in 1998, will be a blessing to
many Americans’ retirement savings. People of
all ages can benefit from a Roth IRA and add a
powerful boost to their retirement nest eggs.
Unlike traditional IRAs, Roth IRA contributions
are never tax deductible. You pay taxes on your
money before you put it into your Roth IRA.
You can withdraw most contributions at anytime
without paying income tax. You can also still
contribute to a Roth IRA if you are participating
in an employer-sponsored retirement plan
(401k).
Your CREDIT UNION offers the following IRA
options:
Cumulative
Deposit any amount
No penalty for withdrawal
One Year
Minimum deposit $500.00
Two Years
Minimum deposit $500.00
Three Years
Minimum deposit $500.00
3.25%
4.0%*
4.10%*
4.20%*
The credit union will be
closed until approximately
12:30 p.m. on Monday, November 12, 2001.
We will be upgrading our data processing and
changing processing locations.
These options are available for both the ROTH
and TRADITIONAL IRAs.
We apologize for any inconvenience this may
create for you and we appreciate your
understanding.
If you think an IRA might benefit you, call today.
It’s too good an opportunity to pass up!
Contributions to the cumulative IRA can be
made through payroll deduction.
*Penalty may apply for early withdrawal.