Our Mission Holiday Hours 70th Annual

WINTER 2010
High Yield Checking is Coming
Beginning February 1, members may choose to add high yield checking to their household. 70th Annual
This account rewards members with an Annual Percentage Yield (APY) up to 4.07%.
The basics:
• Must Direct Deposit primary source of income into the high yield checking account
• Make 15 or more merchant purchases (point of sale transactions) with a WESTCheck
card during the statement month
• Receive eStatements for the account
• Rate on entire balance will drop to Preferred Checking rate if, at any
time during the statement month, the above conditions are not met
• 4.07% APY will be applied to the first $15,000 and the balance
above this amount will earn the Membership Savings Rate
• $500 minimum balance required in the account
with a $5 fee assessed if account falls below the
$500 minimum during the statement month
• Limit one high yield account per household and
households may not have both a high yield and
Preferred Checking account
Membership
Meeting
As a memberowner of WESTconsin
Credit Union, you are
invited to our annual
Membership Meeting.
Grab this opportunity
to be involved in the
decisions made in your
financial institution!
Tuesday, March 30
Menomonie
High School
5:30 to 6:45 p.m.
Complimentary Meal
Large Cafeteria
MVP—Loan Rate Discounts
7 p.m.
Annual Meeting
We’re dishing out even bigger loan discounts! Gold Membership Value Pricing (MVP)
members now receive a .75% loan rate discount, and Silver MVP members get a .35% loan
rate discount on personal loans. With discounts for automatic payments, purchasing select
green vehicles and more, plus WESTconsin’s competitive rates, we’re currently offering
loans with rates as low as 4.50% Annual Percentage Rate.
What’s your MVP status?
You can find it at the top of your account statement. To become a
Silver or Gold MVP member, simply maintain an active personal
Chec
Checking Account, Direct Deposit your net pay with us and keep qualifying
accou
account/loan
balances. Ask for details about MVP at your local WESTconsin
Credit Union office, or visit our website.
Program includes
two board of director
elections, complete
reports, musical
entertainment, door
prizes and attendance
gifts. We look forward
to seeing you!
Our Mission
Holiday Hours
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.
Auditorium
Offices and Service Center
will be OPEN on:
Martin Luther King, Jr. Day
Monday, January 18
Presidents’ Day
Monday, February 15
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
M
magazine written
exclusively for credit
union members.
Use Uncle Sam to Catch Up
Worried about retirement? You’re not alone. Nearly
half of boomers, says the AARP, don’t feel they’ll have
enough money to retire comfortably.
Start saving more—right now. Uncle Sam is
generous to retirement savers. Available to nearly
everyone are tax-advantaged retirement accounts. If
you’re getting close to retirement, the government
extends an even bigger helping hand.
If 50 or older, you can contribute an extra $1,000 to
a traditional IRA or Roth IRA. Or, $2,500 to a Simple IRA.
With the catch-up, older investors can set aside $6,000
for tax-year 2009. The maximum for others is $5,000. Try
to max out contributions every year until you retire. The
more you save, the more you’ll benefit.
Your credit union is generous, too. High rates and
flexible terms on its IRAs help you quickly boost savings.
Equally advantageous: Credit union IRAs are insured to at
least $250,000 per person by the federal government (NCUA).
Catch-up provisions also apply to employer-based
plans. If 50 and older, you can add $5,500 this year to a
401(k), 403(b) or 457. For younger workers, the maximum
is $16,500. Contribute at least enough to capture your
employer’s match. Options for the self-employed include
40l(k)s and SEP IRAs.
For most wage-earners, traditional IRA contributions are
tax deductible. So are contributions to employee plans. You
won’t pay taxes until you withdraw funds. Roth IRAs are not
tax deductible, but the earnings are tax free.
Beginning this year, you can more easily convert
traditional IRAs, SEPs, Simple IRAs and employee plans
to Roth IRAs. You will, however, pay taxes on the taxable
portion of the amount converted. For the pros and cons of
Roth conversions, talk to your credit union.
You can make 2009 contributions to IRAs until April
15; to 401(k)s, January 31. Accumulate your contributions
through payroll deduction and/or automatic transfers. Your
credit union, your employer and Uncle Sam can help you
catch up on retirement savings.
Copyright 2009, Stark/Livingston, Inc.
Editor’s Note: Federally insured WESTconsin IRAs are an easy way to save for your
retirement, offering high annual percentage yields and no administration fees. Set up
automatic deposits (after opening) of $20 or more to build your retirement savings.
Current Consumer Loan Rates
A
ll rates stated are the lowest possible 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 2003 and newer
24 months or less ................................................................................. 4.50 -15.00%
Payment per $1,000 borrowed ...........................................$43.65 - $48.49
(24 months - higher for shorter term)
25 to 36 months..................................................................................... 4.75-15.25%
Payment per $1,000 borrowed ...........................................$29.86 - $46.94
37 to 48 months..................................................................................... 5.00-15.50%
Payment per $1,000 borrowed ...........................................$23.04 - $34.17
49 to 60 months..................................................................................... 5.25-15.75%
Payment per $1,000 borrowed ...........................................$18.99 - $27.80
61 to 72 months..................................................................................... 5.50-16.00%
Payment per $1,000 borrowed ...........................................$16.34 - $24.06
73 to 84 months..................................................................................... 5.75-16.25%
Payment per $1,000 borrowed ............................................$14.50- $21.66
Secured and Collateral age 2002 and older
24 months or less .................................................................................. 7.50-18.00%
Payment per $1,000 borrowed ...........................................$45.01 - $49.92
(24 months - higher for shorter term)
25 to 36 months..................................................................................... 7.75-18.25%
Payment per $1,000 borrowed ...........................................$31.23 - $48.38
37 to 48 months..................................................................................... 8.00-18.50%
Payment per $1,000 borrowed ...........................................$24.42 - $35.67
49 to 60 months..................................................................................... 8.25-18.75%
Payment per $1,000 borrowed ...........................................$20.40 - $29.36
61 to 72 months..................................................................................... 8.50-19.00%
Payment per $1,000 borrowed ............................................$17.79- $25.69
73 to 84 months..................................................................................... 8.75-19.25%
Payment per $1,000 borrowed ...........................................$15.97 - $23.35
Unsecured Consumer Loans
24 months or less .................................................................................. 7.50-18.00%
Payment per $1,000 borrowed ...........................................$45.01 - $49.92
(24 months - higher for shorter term)
25 to 36 months..................................................................................... 7.75-18.25%
Payment per $1,000 borrowed ...........................................$31.23 - $48.38
37 to 48 months..................................................................................... 8.00-18.50%
Payment per $1,000 borrowed ...........................................$24.42 - $35.67
49 to 60 months..................................................................................... 8.25-18.75%
Payment per $1,000 borrowed ...........................................$20.40 - $29.36
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
How do you express yourself?
For some, it’s a
new set of wheels
For others,
it might be
something simpler
to express themselves, Express Loan
makes it quick and easy.
Apply online at westconsincu.org or
call us at (800) 924-0022 to complete
a one-time
application. In
most cases,
we’ll have your
money ready in one hour or less! One
application, one time, does it all.
Something
to get your
shirts clean
O how about
Or,
some skins?
Some restrictions apply. Member eligibility required. Subject to credit approval.
Federally insured by NCUA
3
And you can even express yourself
further by adjusting yourr account to
fit yourr lifestyle. Set up autopay from
any WESTconsin
T
account, pay online,
or even choose to pay more than
once a month to reduce your interest
and pay off your loan quicker.
Express yourself today!
WESTconsin
Scholarship Deadline
Approaches
TIM
CARLSON
A Message from the MEMBERS
Financial Services Program
WESTconsin Credit Union has
gone paperless with its high school
and post-high school scholarship application process!
Online applications are available at westconsincu.org
to WESTconsin members. Completed applications will be
accepted through midnight on January 31, 2010.
Up to ten high school scholarships of $1,000 each
will be awarded. The goal is to award one scholarship to
a graduating high school senior planning to continue
his or her education in each community served by a
WESTconsin Credit Union office. These areas are Amery,
Baldwin, Barron, Hudson, Menomonie, New Richmond,
Prescott, River Falls, Spring Valley and surrounding
communities. One scholarship will also be awarded to
a member who is continuing his or her post-secondary
education. Scholarship recipients will be announced in
May of 2010.
This is the fifteenth year of the WESTconsin Credit
Union Scholarship program. More than $150,000 has
been awarded to our local students to assist them in
continuing their education.
DONNA
REUTER
Work With Someone You Trust
•
Is your retirement money invested properly?
•
Will you have enough income in retirement?
•
How will you pay for a child’s education?
•
Financially, what would happen to your family
if you died?
•
How will you pay for long-term care?
•
Do you need to rollover a 401k or other
retirement plan?
•
Do you need to open or move a brokerage or
managed account?
•
Do you need to start or transfer an IRA?
The Members Financial Services Program located
here at WESTconsin Credit Union has one objective: to
help you reach your financial goals. We’re here to help
you make sound financial decisions consistent with
your risk tolerance, investment time lines and goals.
Whatever your investment and/or insurance needs,
we’re here to help. The program works with leading
investment and insurance companies in cooperation
with your credit union and complements the products
and services the credit union makes available to you.
Together we can provide a total package to help you
realize your full financial potential.
When it comes to insurance and investments,
we understand the importance of a trusted partner.
Contact Kim Lehmann at 235-3403 or (800) 924-0022,
ext. 7218 today to schedule a no-cost, no-obligation
appointment with one of our representatives.
We look forward to helping you today.
Auto Buyer Program Online
WESTconsin takes the guesswork out of getting the
best deal on your vehicle purchase. Auto Buyer Terry
Sullivan has more than 20 years of experience in auto
sales and finance. Terry
will work with you to
find the best vehicle
and use our excellent
dealer relationships to
get a no-hassle buying
experience. Even a
first-time car buyer
can drive away with
the same exceptional
experience as a
veteran one!
You can also use our
Auto Buyer Online
tools to research
options for your next vehicle! Visit the Personal Finances
section of westconsincu.org and view the Auto Buyer
Program page to get started.
For personal assistance with this program, contact
Terry by calling your local WESTconsin Credit Union
office, and reaching ext. 7143.
*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) 512-6109.
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-0205-8114
4
New Realtor Welcomed
WESTconsin Realty
LLC welcomes its newest
Realtor, Gina Baumann,
to the Prescott Office.
Gina, originally from the
Hastings area, brings
her real estate expertise
closer to home after
working in the Seattle,
Washington housing market, and is licensed
in both Wisconsin and Minnesota.
“The home buying process is a start to
a new beginning,” Gina said. Her goal is to
walk her clients through each step, helping
them transition from one home to another as
smoothly and efficiently as possible.
Gina can be reached by contacting the
Prescott WESTconsin Office at
(715) 262-4600 ext. 7281, calling her cell
phone at (651) 285-4297 or emailing her at
gbaumann@westconsinrealty.com.
WESTconsin Realty offers a 4.8% seller’s
commission rate, cash back at closing to
buyers, and no administrative fees.
Did you know?
Since WESTconsin
launched its Facebook page on August 27,
we’ve acquired 448 fans! Check us out on
Facebook for product updates, tips and
alerts. You may also access your WESTconsin
account using MyMoney.
Visit our website
for direct links to
these sites.
Chamber
Recognition
WESTconsin Credit
Union congratulates Jamie
McCulloch for receiving
the special honor of
Outstanding Chamber
Member of tthe Year from the Spring
Valley Chamber of Commerce. Jamie,
Supervisor of WESTconsin’s Spring Valley
Office, recently accepted the award at the
Chamber’s annual banquet.
Extended Buyer Tax Credit
Submitted by Gina Baumann
Capitol Hill has extended the up to $8,000 tax credit deadline
to April 30, 2010 for first time homebuyers (someone who has not
owned a home within the last three years). The big addendum to
this tax credit is the addition of a provision for up to a $6,500 tax
credit to repeat homebuyers (those who have owned their existing
home for five of the last eight consecutive years) on the purchase of a
new primary residence. This provision accounts for the many buyers
jumping off the fence to take advantage of a great opportunity, along
with historically low interest rates, to buy a new home.
As with any tax credit there are qualifications and limitations, as
well as special regulations for military personnel. For homeowners
thinking about selling, now is the time to get the gears moving and
use this buyer incentive, at no cost to you! Give your local WESTconsin
Realtor a call to find out if you may qualify for this significant
opportunity to become a homeowner! Don’t forget WESTconsin
Realty buyers receive cash back at closing, in addition to the tax
credit, for taking advantage of our services.
Tax Assistance Offered
WESTconsin’s Menomonie East Office will again host volunteers
for the Menomonie area’s AARP free tax preparation program.
Assistance is available Tuesdays from 9 a.m. to 1 p.m. and
Wednesdays from 10 a.m. to 4 p.m., beginning February 2 until
April 13 and on April 14 from 9 a.m. to 1 p.m. All questions and
appointment requests are to be directed to the Aging and Disability
Resource Center of Dunn County at (715) 232-4006.
The River Falls Office will host the UW-River Falls Student Accounting
Society Low Income Tax Assistance program from 5 to 9 p.m. on
February 11 and 25, and March 4 and 11. The students will be assisting
taxpayers with the preparation of their returns at no cost. For more
information about this service, please contact Steve Dewald, UW-River
Falls College of Business and Economics, at (715) 425-0620.
TurboTax® Available on Our Website
When it comes to finances, we’re all ready
for some good news. As a valued WESTconsin
member, you’ll find out just how untaxing
your taxes can be when you file your simple
federal return with TurboTax Federal Free Edition. Make tough times
a little easier. TurboTax is the uncomplicated, fast and convenient way
to get your taxes done. Get started on our website by clicking on the
TurboTax icon.
© 2009 Intuit Inc. All rights reserved. State filing charges apply. Limited time offer for TurboTax 2009. Terms, conditions,
features, availability, pricing, fees, service and support options subject to change without notice. Intuit, TurboTax and
TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and
other countries. Other parties’ trademarks or service marks are the property of their respective owners.
5
Chain of Hearts
Our annual
Chain of Hearts
fundraiser
for Children’s
Miracle
Network (CMN)
will take place
throughout the
month of February. The purchase
of a heart or link will help us
help kids receiving medical care
at Gillette Children’s Specialty
Healthcare in St. Paul, Minnesota,
our region’s local CMN hospital.
Thanks to your generosity,
plus matching funds from the
CO-OP Financial Services Miracle
Match, WESTconsin donated
more than $30,000 to Gillette’s
CMN program in 2009. We’re
proud of our members and staff!
WESTconsin Volunteer Club
Our volunteers assist those in need of a helping hand and find ways to
serve the community. WESTconsin rewards our volunteers with benefits, such
as no-cost WESTconsin services, a special interest-bearing checking account,
certificate rate bonuses, WESTconsin clothing and more. We encourage our
members to get involved with local programs! This month, we highlight the
following organization:
The Borner Farm Project
The Borner Farm Project, located in Prescott, Wisconsin, is completing its
first year of service to the area. More than fifty people participated in some way
to get the project started, and a kick-off event was held on Earth Day last year.
The Project’s mission is to enrich lives and build community by growing and
preparing wholesome organic food, creating a network of local food producers
and fostering an ethic of stewardship for the land. To do this, the Project will:
• Provide volunteer opportunities for community farming
• Offer individual garden plots
• Sell fresh produce in the community
• Share fresh produce with a local food shelf
• Provide educational opportunities
• Foster the concept of inter-generational learning
• Sponsor local events and activities
• Seek support and sponsorship from community members, and local
businesses and organizations
• Pursue fundraising activities
• Promote economic stability by providing people with the opportunity
to grow and prepare their own food
Much of the produce grown is sold at the farm and at the Prescott Farmer’s
Market held in Freedom Park from June to October, plus a portion is provided
to the local food shelf. The group is always looking for volunteers of all ages to
tend gardens, sell produce and more. For more information on the project, or
to volunteer, call (715) 262-5593 or email blogadmin@bornerfarm.org.
Travel Club Upcoming Trips
The Dixie Swim Club | April 7, 2010
Five women, whose friendship began
many years ago on their college swim
team, set aside a long weekend every
year to recharge those relationships.
As their lives unfold and the years
pass, the women increasingly rely
on each other, through advice and
raucous repartee, to get them through
challenges that life flings at them—
men, sex, marriage, parenting, divorce
and aging. A hilarious and touching
comedy about friendships that last
forever. Cost is $55 per person, and
includes dinner, matinee show and
transportation to the Old Log Theater
in Excelsior, Minnesota.
Oberammergau and the
Passion Play | July 16–26, 2010
Western National Parks Bus Tour
September 6–19, 2010
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! This trip is full, contact
Sharron to be put on the waiting
list. Brochures available in the
offices or online.
This trip is in its beginning stages
and the itinerary is still being
created. Highlights of this tour
include: the Colorado National
Monument; Arches National Park;
Bryce Canyon National Park; a Lake
Powell Boat Cruise; Mesa Verde
National Park; the North Rim of the
Grand Canyon; and the Durango &
Silverton Narrow Gauge Railroad.
Stay tuned for more information.
6
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.