Our Mission Holiday Hours RFHS Office Now

SPRING 2009
RFHS Office Now Open
A Message from the President
Welcome to our newest office—at the
The year 2008 was a very successful year for WESTconsin Credit
River Falls High School!
A ribbon cutting was held on January 27,
marking the first official day of operation
of the new credit union. The new RFHS
WESTconsin Office is housed in the school’s
Cat Store on the second floor.
The credit union is staffed with student
tellers, as an independent study through the
Future Business Leaders of America program,
and a representative from the River Falls
WESTconsin Credit Union office. Students and
staff will have immediate access to financial
resources, information and products.
WESTconsin was chosen as the local
financial institution to provide a fullyfunctioning financial office to serve the
students and staff of the River Falls School
District. Students are encouraged to come
in and visit with WESTconsin staff members
for answers to questions on
establishing credit, building
a retirement plan or basic
budgeting, or just to check
us out!
Union in a number of ways, with good growth in loans, deposits and
assets. Rest assured there is no liquidity crisis at your credit union. We
have plenty of money available for members’ needs and are eager to
make loans.
Most credit unions like WESTconsin are financially strong and in a
great position to deal with the current economic downturn. We did
not make teaser rate ARM loans or interest-only mortgages, or invest
in mortgage-backed securities. As a result, your credit union is fairing
much better than the large national and international banks.
With more than 10.6 percent of our assets in regular reserves and
undivided earnings, your credit union is very strong and in great
shape to weather an economic slow down. In addition to the financial
strength of the credit union, all member deposits are now insured up
to $250,000 by the NCUA, an agency of the federal government.
Cooperatives practice seven basic principals, one being education
of our members and the general public. Our mission to provide
financial education is supported by the many presentations we hold
in-house and bring to businesses and schools; the information we
make available in our lobbies and on our website; and the many
school programs we provide to teach financial literacy to our youth.
This past year, we increased the benefits available
with our Membership Value Pricing program, offered
eStatements for member accounts and credit cards,
and introduced our Auto Buyer Program which helps
members find their preferred vehicle at the best price.
We continue to offer free financial counseling to our
members and to educate members on important financial
topics with articles on our website and in our newsletters,
various educational seminars and outreach opportunities
throughout our communities.
Thank you for the trust you placed in us in 2008, as
generations have done for the past 70 years.
Our Mission
We are committed to helping our members achieve financial success.
Providing Convenient, Low-Cost Financial Services from
Menomonie – East, Downtown & North ..................... (715) 235-3403
Baldwin....................(715) 684-3333
Barron .......................(715) 537-5661
New Richmond .. (715) 246-2068
Prescott ..................(715) 262-4600
Spring Valley ....... (715) 778-5644
US Toll Free ......... (800) 924-0022
Menomonie High School
River Falls High School
Amery ................................................. (715) 268-8127
Hudson ............................................. (715) 386-2300
River Falls.......................................... (715) 425-8113
also online at .................westconsincu.org
90 Day Notes is a quarterly newsletter published by WESTconsin Credit Union to inform and educate its member owners about
the Credit Union and other financial matters.
Holiday Hours
Offices and Service Center
will be CLOSED on:
Memorial Day
Monday, May 25
Independence Day
Saturday, July 4
Sharon Stark specializes in producing
materials for credit unions and their members.
She’s the former editor of Everybody’s
Money, a national consumer finance
magazine written
exclusively for credit
union members.
Your Credit Union Has Money To Lend
Unlike many financial institutions, your credit union
avoided subprime and other bad loans. As a result, it has
plenty of money for borrowers. And, the money is ready to
help you through this economic downturn.
Of course, you’ll want to keep your debt to a minimum. One
of the best ways to weather financial storms is to have limited
debt. Let’s hope you do. After paying off your debts, put the
amount of the payments into emergency savings. You never
know when you’ll need extra cash again.
Forget other financial institution lenders. They’ve severely
tightened their lending requirements—making it nearly
impossible to borrow at reasonable rates (if at all). Credit
union loan rates still are low. Fees are low or nonexistent. To
save even more, opt for the shortest loan term you can afford.
A $10,000 five-year loan at 6 percent will cost you $1,600 in
interest. Take out the loan for four years, and you’ll shave $327
off total interest payments.
When applying for a credit union loan, ask for
advice. The loan officers there are experts in sound
debt management. Listen to what they say. Your
credit union is there to help you borrow without
creating an unnecessary debt burden for you.
Here are some smart guidelines to follow:
Keep your overall debt, including mortgage, to
33 to 35 percent of your take-home pay. Limit
credit card debt to 15 to 17 percent of income. On
credit cards, always pay more than the monthly
minimum. Otherwise, you’ll spend years getting
rid of the debt.
Remember: The best loans are those that pay
for genuine needs. Some of the most obvious
needs are mortgages, equity loans (especially
for remodeling and other fix-ups), education, a
necessary new vehicle and medical expenses.
Borrow when you must. Don’t borrow just because
you can. And, always borrow—low cost and
wisely—at your credit union.
Editor’s Note: Applying for a loan from WESTconsin is
quick and easy! Call your local WESTconsin phone number
and then press 4, or click on the Loans—Apply Now link on
the homepage of westconsincu.org.
Copyright 2009, Stark/Livingston, Inc.
Current Consumer Loan Rates
A
ll rates are stated as an Annual Percentage Rate (APR) and are subject to change. Your actual loan rate will be based on your credit history for
secured and unsecured loans, and collateral age for secured loans. We offer several ways to receive loan rate discounts, including MVP (Membership
Value Pricing) status, automatic payment of your loan, purchase of select eco-friendly vehicles and more. Details available on our website.
Secured and Collateral age 2002 and newer
24 months or less .................................................................................. 7.00-17.50%
Payment per $1,000 borrowed ...........................................$44.75 - $49.68
(24 months - higher for shorter term)
25 to 36 months..................................................................................... 7.25-17.75%
Payment per $1,000 borrowed ...........................................$30.99 - $48.14
37 to 48 months..................................................................................... 7.50-18.00%
Payment per $1,000 borrowed ...........................................$24.18 - $35.42
49 to 60 months..................................................................................... 7.75-18.25%
Payment per $1,000 borrowed ...........................................$20.16 - $29.10
61 to 72 months..................................................................................... 8.00-18.50%
Payment per $1,000 borrowed ...........................................$17.54 - $25.41
73 to 84 months..................................................................................... 8.25-18.75%
Payment per $1,000 borrowed ............................................$15.72- $23.07
Secured and Collateral age 2001 and older
24 months or less ................................................................................10.00-20.50%
Payment per $1,000 borrowed ...........................................$46.15 - $51.14
(24 months - higher for shorter term)
25 to 36 months...................................................................................10.25-20.75%
Payment per $1,000 borrowed ...........................................$32.39 - $49.61
37 to 48 months...................................................................................10.50-21.00%
Payment per $1,000 borrowed ...........................................$25.61 - $36.94
49 to 60 months...................................................................................10.75-21.25%
Payment per $1,000 borrowed ...........................................$21.62 - $30.70
61 to 72 months...................................................................................11.00-21.50%
Payment per $1,000 borrowed ...........................................$19.04 - $27.09
73 to 84 months...................................................................................11.25-21.75%
Payment per $1,000 borrowed ...........................................$17.26 - $24.82
Unsecured Consumer Loans
24 months or less ................................................................................10.00-20.50%
Payment per $1,000 borrowed ...........................................$46.15 - $51.14
(24 months - higher for shorter term)
25 to 36 months...................................................................................10.25-20.75%
Payment per $1,000 borrowed ...........................................$32.39 - $49.61
37 to 48 months...................................................................................10.50-21.00%
Payment per $1,000 borrowed ............................................$25.61- $36.94
49 to 60 months...................................................................................10.75-21.25%
Payment per $1,000 borrowed ...........................................$21.62 - $30.70
Once you've set up an Express Loan plan,
it's convenient and easy to request an
advance. You can call, visit, or log on to
our website and make your request. We'll
update your information and get funds to you quickly. Express Loan is also
a great way to refinance your more expensive loans at other institutions.
Contact us today to set up your Express Loan plan. For Home Equity Lines
of Credit (HELOC) and Credit Card rates, visit our website.
2
…and then there are Perks!
WESTconsin Credit Union’s Preferred Checking
account is brewed especially for people who
appreciate values that are always fresh.
A free coffee maker or other one-time
signing bonus just can’t compare to
the day-after-day great savings and
exceptional bargains you enjoy
through WESTconsin’s exclusive
Easy Saver program. It’s free
refills year-round, a savory
blend of custom checks, no
required minimum balance,
and much, much more.
Hotel and
motel
discounts
Stir in identity theft
protection that will keep you
safe from online thieves and,
mmmm, that’s a great pickme-up!
Proud to be a Corporate Sponsor
WESTconsin continues to proudly be a Bronze Level Corporate Sponsor for the American Cancer
Society Relay for Life, sponsor of the Big Brothers Big Sisters Bowl for Kids’ Sake, donor to the United
Way and sponsor of the Alzheimer’s Association Memory Walk.
Be a part of the upcoming local Relays for Life: New Richmond, June 12; Menomonie, June 19;
Hudson, June 26; and Barron, July 31, and the Amery Finish Line on May 9.
Don’t miss the Bowl for Kids’ Sake events in your area: Baldwin, April 17, Bol’s Lanes; River Falls, April 18, St. Croix
Lanes; Hudson, April 24, Hudson Bowling Center; Chippewa Falls, April 30, Falls Bowl; Menomonie, May 1, Broadway
Bowl; Eau Claire, May 5-8, Wagner’s Lanes. For more information, visit www.bbbsnw.org.
3
Youth Week 2009
You
Hocus-pocus—my money
grew
grew! Well, maybe it’s not that
eas
easy to save, but by teaching
kid
kids from a young age, it
ca
can be. As they grow to
tw
tweens and teens, they’ll
h
have one of the most
d
difficult aspects of saving
under their belt—being
co
consistent.
Join us this year as we
Jo
celebr
celebrate National Credit Union
Youth W
Week from April 19–25.
Our theme for 2009 is The Magic of
Saving. Visit the Youth Week Page o
on our website, by clicking
on the Student $avers link
link. Find mo
more information, coloring
pages, links to savings activities and more.
Teach kids about the magic of saving!
• Have young children (preschool age) sort different types
of money into piles by color and size.
• Play grocery store or credit union. Help them use a
pretend cash register.
• At the grocery store, let kids of all ages help you shop.
Teach them how to comparison shop. For example, show
them that for every $4.99 box of cereal, there may be
similar kinds on sale for half as much.
• As kids get older, share sales receipts and bills that
you receive for items or services you’ve purchased
for them.
• If you decide to pay your kids an allowance, don’t
just establish one as parents. Sit down with them
and discuss allowance amounts and what they
should use their allowance for. The amount is
your call, but allow them input. One idea is to
have children set aside part of their allowance
for spending, part for saving and part for sharing.
Clarify what you’ll pay for and what they should be
responsible for. For example, when you’re at the
movies, maybe you agree to pay for a small drink
and popcorn, but the candy is on them.
• Show children what compounding interest means.
Explain that as kids save, they’re constantly earning
dividends on their savings. On top of that, they’re
earning dividends on their dividends.
• As kids reach high-school age, clarify what you will
pay for and what your children are responsible for.
For example, your kids may want the newest style
of tennis shoes that come with a really high price
tag. Establish what you’d pay for athletic shoes,
such as $50. If they still want the more expensive
pair, have them make up the difference. Often, once
the responsibility of paying for items is on kids, the
latest, greatest fashions aren’t so important.
Copyright 2008 Credit Union National Association, Inc. All other rights reserved.
CMN Fundraising Thank You
Member Survey Information
Thanks to the generosity of WESTconsin
Credit Union employees, members and
communities, we’ve raised more than
$130,000 over the years for Children’s
Miracle Network (CMN), a non-profit
organization dedicated to saving and
improving the lives of children by raising funds for children’s
hospitals across North America. Our annual Chain of Hearts
fundraising event in February and recent cookbook sales
added more than $17,000 to our overall donation to this
great cause.
WESTconsin donations benefit the CMN program at
Gillette Children’s Specialty Healthcare in St. Paul, Minnesota,
western Wisconsin’s local CMN hospital. In recent years,
Gillette has assisted more than 800 children annually from
communities served by WESTconsin offices. WESTconsin joins
nearly 5,000 other credit unions nationwide as a part of our
collective effort Credit Unions for Kids.
WESTconsin regularly surveys our membership as
part of our ongoing attempt to provide the highest
quality service. A survey will soon be mailed to 3,500
randomly selected members. The questionnaire asks
opinions on the quality of our service, along with the
member’s use of financial products and services at
the credit union and elsewhere.
The survey is being conducted by Credit Union
National Association (CUNA) Research, and is
printed on a light blue sheet of paper, folded into
four pages. If you receive one of these surveys,
please take a few moments to complete the
questionnaire.
This beneficial feedback ensures we maintain
excellent customer service and provide adequate
financial products. Completed surveys should be
returned directly to: CUNA Research, PO Box 431,
Madison, WI 53701-0431.
4
WESTconsin Sponsors Community Events
DARC
TIM
CARLSON
A Message from the MEMBERS
Financial Services Program
DONNA
REUTER
Job Change?
Don’t Leave your Retirement
Plan Dollars Up in the Air
If you’re changing jobs or retiring, you’re
in the midst of an enormous change. You
should seriously be considering what to
do with your money in your employer’s
pension plan, 401(k), 403(b)/TSA or 457
plan. After all, it’s probably one of your
biggest assets. The wrong move could cost
you thousands and greatly affect the quality
of your retirement years.
Generally, there are four options for your
retirement plan:
1. Leave it in your former employer plan
2. Transfer it to your new employer plan
3. Roll it over to a traditional IRA
4. Cash out and pay taxes and possibly
penalties
Each decision has its pros and cons.
Need help deciding what option is best
for you? Contact the MEMBERS Financial
Services Program Administrative Assistant
Kim Lehmann to schedule an appointment
with Donna Reuter or Tim Carlson, serving
the members of WESTconsin Credit Union at
your local WESTconsin Credit Union phone
number or (800) 924-0022 ext. 7218 for a
no-cost, no-obligation Retirement Assets
Consultation. The quality of your retirement
years depends on it.
*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) 5126109. 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-0405-2BA8
Drums Along the Red Cedar is back! In its sixth year as a title
sponsor, WESTconsin joins co-title sponsors WQOW-Channel 18 and
Charter Communications in presenting the Chippewa Valley’s premier
family music event on Sunday, June 21, at 6 p.m. at the Don and Nona
Williams Stadium on the UW-Stout campus.
The 2009 drum and bugle corps lineup includes the Phantom
Regiment, Rockford, IL; Blue Stars, La Crosse, WI; Madison Scouts,
Madison, WI; Spirit, Jacksonville, AL; Pioneer, Milwaukee, WI;
Minnesota Brass, St. Paul, MN; Chops, Inc., Minneapolis, MN; and
Racine Scouts, Racine, WI.
Tickets for the show are available at any WESTconsin office during
business hours beginning in May. Proceeds from this event provide
assistance to community music organizations through the Greater
Menomonie Area Community Foundation. Reserved seats and more
information are available at www.darc.us.
FreedomFest
For the second year, WESTconsin will be the title sponsor of
FreedomFest, the Menomonie area’s Fourth of July celebration on
Saturday, July 4. After the Red Cedar Medical Center’s Firecracker
Run, enjoy food, kids’ games and activities, softball tournaments,
live music featuring Swing Crew, Sassy Magoo and Howard Guitar
Luedtke and much more, including a fireworks display at 10 p.m.
Fun Fest
In New Richmond, our WESTconsin office will be one of two
platinum sponsors of Fun Fest. The event will be held July 9-12, and
includes a parade, carnival, food and entertainment featuring The
Dweebs, The UnderAchievers, TNT and Arch Allies—all with no cover
charge. Details available at www.newrichmondfunfest.com.
Operation Coats for Kids
All WESTconsin offices collected gently used coats for Operation
Coats for Kids, a project developed and coordinated by 14-yearold member Ted Marris in conjunction with his Boy Scout Eagle
award project, to promote community service and leadership
development. Donations of gentlyy used coats were accepted
through mid-January, and
were distributed to human
services agencies to assist
families in need throughout
western Wisconsin.
WESTconsin also
partnered previously
with Ted to coordinate a
collection of shoes that were
sent to Iraqi children. The
project was featured in a
Boys’ Life article and a video
produced by the National
Scout Office. We’re proud of
Ted’s accomplishments and
the example he sets for the
area’s youth.
5
WESTconsin Travel Club Upcoming Trips
Mackinaw Island and the Upper Peninsula | June 15–19
Enjoy a visit to the Great Lakes Shipwreck Museum at Whitefish Point, a
cruise at Pictured Rock National Lake Shore, lunch at the Grand Hotel, a
carriage ride around the island and more. Overnight accommodations
on Mackinaw Island. Cost is $540 per person.
Norway | July 17–27
Visit Oslo, Lillehammer, Loen, Stalheim, Bergen, Telemark
and several scenic attractions along the way. Cruise
the Gierangerfjord and Sognefjord. Optional two-day
extension in Iceland available. Cost is $3,849 per person.
Credit Union Day at the Ballpark | July 12
Join us for Credit Union Day at the Ballpark
featuring the Milwaukee Brewers versus the
Cincinnati Reds! We’ll leave Menomonie at 6 a.m.
and arrive at Miller Stadium at 11 a.m. just in time
for the tailgate, then enjoy the game at 1:05 p.m.
Cost is $108 per person, and includes bus transportation, the tailgate
and admission to the game. Please make your reservations by June 8.
Joseph & The Amazing Technicolor Dreamcoat | August 12
This colorful, upbeat retelling of the biblical story about Joseph, his
uncanny abilities to interpret dreams and his designer coat, sings out
to young and old alike with a score filled with wall-to-wall hits. Cost
is $69 per person, and includes dinner, show and transportation to
Chanhassen Dinner Theatre.
Minnesota State Fair | August 27
We’ll leave Menomonie at 7:15 a.m. with stops in
Baldwin, River Falls and Hudson. Cost is $27 per person.
The Great California Train Adventure | September 30–October 10
We will travel by bus to Chicago, where we’ll meet the California Zephyr
for our trip west. View the majestic Colorado Rockies, spectacular
Pacific Coast scenery, Golden Gate Park, Chinatown, Fisherman’s Wharf,
Pebble Beach, the Hearst Castle and Hollywood! Cost for the trip begins
at $3,199 per person.
Travel Shows | Menomonie East Office
Tuesday, April 21 | 2 p.m. and 7 p.m.
Oklahoma! | October 28
The classic musical based on the high-spirited rivalry between the local
farmers and cowboys where Curly, a handsome cowboy, and Laurey, a
winsome farm girl, live and eventually fall in love. Cost is $70 per person,
and includes dinner, matinee show and transportation to Chanhassen
Dinner Theatre.
Oberammergau and the Passion Play | July 16–26, 2010
Only ten spots remain! Contact Sharron Buss soon!
This unique event is held only once every ten years.
Enjoy Prague, Bavaria, Obersalzberg to see Hitler’s
underground bunker system and the Eagle’s Nest,
the Liderhof Castle, the Venus Grotto and more!
Brochures available in the offices or online.
All prices are per person/double occupancy, unless noted. Call Sharron Buss at your local office
phone number, ext. 7733, for reservations or more information.
6
Real Realty Tips
Karen Cadotte,
WESTconsin Realty LLC,
Menomonie
$8,000 Homebuyer
Tax Credit
In a recent legislation change, the $7,500
first-time homebuyer tax credit established
in 2008 has undergone some modifications.
Any home that is purchased in 2009 at a
price of $80,000 or more now qualifies
for an $8,000 homebuyer tax credit. The
repayment feature of the tax credit has also
been eliminated for 2009 purchasers. If the
house costs less than $80,000, the credit will
be 10 percent of the cost. Therefore, if an
individual purchased a home for $75,000,
the credit amount would be $7,500.
This credit is available for the purchase of
a principal residence on or after January
1, 2009, and before December 1, 2009. If
you would like a copy of frequently asked
questions distributed by The National
Association of Realtors, please e-mail me at
kcadotte@westconsinrealty.com.
Realty Open Houses
We invite you to meet our newest
WESTconsin Realty LLC professionals, Kathy
Afdahl and Jim Helmer, who will be on hand
to answer your real estate questions during
two Open House events. Enjoy refreshments
and enter our prize drawing, too.
Friday, April 17 | 2 to 6 p.m.
Spring Valley Office
SSaturday, April 18 | 9 a.m. to Noon
Baldwin Office
Buyers receive up to
$500 cash back and sellers
pay a low 4.8% residential
commission with WESTconsin
Realty. Check out the website
at westconsinrealty.com.