74th Annual Meeting - Concho Educators Federal Credit Union

1st Quarter Newsletter
2015
74th Annual Meeting
Concho Educators Federal Credit
Union held it’s 74th Annual Meeting
on March 26, 2015 at Southland
Baptist Church. The Annual Meeting had a great crowd of close to
200 guests. Speakers included
Jerry Merrill, CEO, and members of
the CEFCU Board and Supervisory
Committee. Cash prizes were given out throughout the meeting and
dinner was catered by Fiddle Fire
Catering of San Angelo.
Employee of the year was awarded
to Elvia Aceves. Elvia is a Teller
Supervisor at the Loop location and
has been with the Credit Union for
3 years.
Julia Rogge of the Board gave the
Nominating Committee report and
Cheryl McGaughey, Mickey Russell, and Robert Markell were all reelected for another term.
Teacher of the Week is Sponsored by Concho Educators
FCU and can be seen on KLST/
KSAN morning and evening
news every Friday that school
is in session. To vote for your
favorite teacher, visit
www.conchoeducators.org
and click on the Teacher of
the Week tab.
Congratulations to this week's
Teacher of the Week,
Mrs. Angela Pidgeon of Central High
School!
The Payoffs of Paying Off Your Credit Card
Paying off a credit card is more rewarding than you might think. It can be tempting to cover just
the minimum due on your credit card bill each month, but consider these examples of how taking
care of the full balance can benefit your financial life.
Avoiding interest
When you carry a balance from month to month, you incur interest charges that build over time,
adding to what you owe. This can lead to spiraling debt. A full payoff, however, stops that process.
Stop balance transfers
You might reach a point where a balance transfer makes sense, especially if you can move what
you owe onto an account with a lower interest rate. Keep in mind that you’ll likely pay a fee to do
this, so figure that in when calculating the benefits of making the move.
Building up savings
Instead of draining money on endless minimum payments, paying off the balance gives you a
chance to save money each month. Build up a fund for vacations and special occasions down
the road. Also, make sure to put savings into an emergency fund. The best insurance against
adding new credit card debt is your savings.
Maintain good credit
Carrying a load of debt can hurt your credit by raising your credit-utilization rate, which helps determine your credit score. If what you owe in an account gets too close to its limit, your score
might drop. To avoid damaging your ranking, keep your utilization rate below 30% on every card
account.
Credit access
Financial institutions such as Concho Educators Federal Credit Union offer multiple credit cards,
including some that charge as little as a 9.9% annual percentage rate.
Your credit score can help determine whether you can qualify for a card and may govern the rate
you pay on balances.
Once you free yourself from credit card debt, you’ll have more control over your finances. This
can open up opportunities for better deals on loans and other credit products for more savings
down the road.
Spencer Tierney, NerdWallet
Visit www.nerdwallet.com to learn more
Valentine themed gift baskets were given out by CEFCU at the
January 24, 2015 Basketball Double Header.
MODEL YEAR
TERM
APR* as low as
36 Months
1.99%
60 Months
2.25%
66 Months
2.75%
72 Months
3.75%
84 Months
4.25%
2009-2010
54 Months
3.25%
2007-2008
48 Months
3.50%
2005-2006
42 Months
3.75%
2004 and older
36 Months
4.75%
New Vehicles
2011-2015
Used Vehicles