Points of Interest - Fourth Quarter 2010

Fourth Quarter 2010
President’s Message
Robert A. Steensma • President/CEO
New 0.50% Certificate Rate Bumps
for Five Star Level Members
To improve upon what banks call CD’s (Certificates of Deposit),
credit unions offer a product called “Certificate Accounts”.
These are different than regular savings (share) accounts.
W
In October 2009 we launched our new
Five Star free checking with dividends and
it has been very successful in attracting
many more members with active checking
accounts here at FSCU. To qualify as the
highest “Five Star level” a member must
have a checking account that has 10 or
more transactions per month and use
at least 3 other qualifying services with
FSCU. Active checking accounts and these
other services are very important for credit
unions and other financial institutions.
So if you have a certificate account with
FSCU, be sure you have your active
checking account with us and qualify for
I read in the last FSCU
newsletter about the new
“FSCU preferred dealerships”
where I can buy my car
and get a FSCU car loan all
without coming into the FSCU
office. How does that work?
We actually have 2 ways to save you
the trip into one of our offices to
apply for a loan. We have our Loans
by Phone program where you can
call 1-888-619-1711 (option 2) and
apply for your loan right over the
phone with us from the privacy of
your home, office or even from the
car dealer.
e are pleased to offer a new benefit to
members who have FSCU certificate
accounts when they qualify by also having
a Five Star level checking account.
Members who do, will receive an
additional 0.50% APY* dividend “bump
rate” added to their regular certificate
dividend earned at the end of each month
they qualify. This applies to both new
and existing certificates for Five Star level
members. In fact, since this program
started on September 1st, those who
qualified in September should already see
the first additional bump rate applied to
their certificate earnings in their current
account statement.
Question & Answer
Five Star level, in order to receive this
additional dividend at the end of each
month.
If you have any questions about the Five
Star free checking with dividends account
or the new 0.50% bump rate available on
certificate accounts, inquire by phone at
1-888-619-1711 (option 3) or online at
www.FiveStarCU.com or at your local
FSCU office for further information.
As always, FSCU is committed to
outstanding member service and providing
you the best loan rates and the best return
on your hard earned savings. We are truly
YOUR credit union and we are here for
you.
*APY is Annual Percentage Yield. Interest and penalty
fees for early withdrawals of certificate accounts may
apply.
However we also have a group
of friendly auto dealers who we
work closely with and that have a
computer program called Credit
Union Direct Lending (CUDL) so
they can apply for a FSCU new or
used car loan for you. They can
print out the paperwork from their
computer and you can sign the
FSCU loan agreement right there
at the dealer and drive off in your
new car. Just tell them you want to
make a Five Star Credit Union car
loan through CUDL (pronounced
“cuddle”) and see how easy it can be.
These preferred dealers include:
Abbeville, AL
DAVID MONEY FORD
Andalusia AL
MASSEY AUTOMOTIVE GROUP
Continued on page 2
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1
What is a Credit Score &
How Important Are They?
Simply put, a credit score is a number
that is calculated by a mathematical
formula from information in your credit
report compared to similar numbers of
millions of other people. The resulting
number is a highly accurate prediction
of how likely you are to pay your bills
on time. Scores can range from 300850 and the higher the score the better.
Your score is very important because it
can determine your financial future. It
can determine how much you will pay
and whether you will even qualify for
an auto loan, a mortgage loan, a credit
card, a job, an apartment and even what
insurance rates you will pay. Contact a
Lending Specialist today by calling 1-888619-1711 (choose option 2 for loans) to
learn more about your credit score.
Remember, you should check your
credit at least twice a year. You can pull
one free credit report from all 3 major
credit bureaus (Trans-union, Experian,
Equifax) for free once a year by visiting
www.annualcreditreport.com.
Upcoming
Five Star Seminars
Learn the secrets of smart car buying.
Save money, time and headaches!
“Take The Wheel:
Get The Best Car Deal”
Continued...
Question & Answer
Dothan, AL
HAND MOTOR CO BONDY’S FORD BONDY’S NISSAN DOTHAN CHRYSLER DODGE KIA
GILLAND CHEVROLET PONTIAC GMC
JIM SKINNER HONDA
MEDFORD VOLVO MIKE SCHMITZ AUTOMOTIVE GROUP
MIKE SCHMITZ HYUNDAI
SOLOMON CHEVROLET
TOYOTA OF DOTHAN
Elba AL
COOK CHEVROLET
Enterprise AL
ACTION BUICK, GMC
BONDY’S TOYOTA
ED SHERLING FORD
Dial 1-888-619-1711 (choose option 3)
to register. Seating is limited, Call
Today!!!!
2
If none of these dealers are close to you,
the Loans by Phone is always a great
option.
Keep Your Accounts Active.
If you have only a savings account with us and the balance is less than $50 with
no activity on your part for 6 months, the account is considered “dormant”
and an $8 per month dormant account fee must be imposed. This fee does
not apply to active accounts, accounts of more than $50 or to members who
have an active checking account, a loan, or a share certificate or money market
account with FSCU. It also does not apply to Rising Star (youth) accounts.
If you think your savings account might be considered dormant, you can
avoid this fee by transferring the balance to an active account, add deposits
to accumulate more savings or close the account. We value your membership
and encourage members to keep their accounts active.
Save Money on your Loan or Earn
$10 in about 10 minutes
Thursday October 21st 5:30-7:00
In Dothan AL
Seminar Objectives - Learn How To:
• Determine how much car you
can afford
• Use a car inspection and test
drive checklist
• Deal with dealers
• Negotiate the best car price
• Benefit from buying used
• Decipher financing options and
warranties
• Find help if you have problems
ENTERPRISE CHEVROLET MITCHELL NISSAN
MITCHELL MAZDA LINCOLN MERCURY
MITCHELL HYUNDAI SAM BOSWELL HONDA
TIM WHITEHEAD CHRYSLER‐DODGE‐JEEP
Eufaula AL
MEDFORD FORD
Ozark AL
GILLAND CHEVROLET, GMC
Troy AL
BILL JACKSON CHEVROLET
KEN COX FORD
To let us save (or give) you money,
call 1-888-619-1711 (choose option 2
for “loans” and then choose 2 again
for “personal loans” to participate).
You can’t lose!
Be sure to mention you are calling
about the $10 for 10 minute loan
offer and have your non-FSCU loan
payment information handy when
We are so confident we can help our you call.
members, that if we can’t save you
money each month by switching So hurry… even though FSCU can
your loan to FSCU we will pay you save you money all year round, the
$10 offer expires on November 30.
$10 just for letting us try.
Do you have a loan (car, mortgage,
personal, etc) with a financial
institution other than FSCU?
*Average call takes 10 minutes or less.
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Fill in the grid so that every row, every column, and every
3x3 box contains the digits 1 through 9 only once.
Solution on Page 4.
OVERDRAFT PRIVILEGE REMINDER
DON’T BE LEFT OUT!
We have had an overwhelming response to our reminding and
encouraging our members to sign up (opt in) to Overdraft Privilege
(ODP) to protect their debit card purchases at merchants if their
account is short of funds. But there are still a few members who
have not signed up yet. There is no charge to you if you never
have to use this privilege, but it is comforting to know it is there
if you need it in an emergency.
While checks are still covered for most members up to $500, a
new federal law that went into effect on August 15th, 2010 limits
all financial institutions ability to cover overdrafts you may have
from purchases you make with your debit card at a restaurant,
gas station, doctors office, etc unless you tell us you want us to.
If you have not already opted in to overdraft privilege to protect
your rights and privileges, we urge you to do so. All it takes is
a phone call to our member services center at 888-619-1711
(option 3) or a visit to your local FSCU branch. Tell them you
want to “opt in to debit card overdraft privilege”.
*Whether overdrafts will be paid is discretionary and we reserve the right not to pay.
For example, we typically do not pay overdrafts if an account is not in good standing,
if the member is not making regular deposits, or if they have too many overdrafts.
Each item presented will be assessed our $35 overdraft fee, whether it is paid using
the overdraft privilege (ODP) or returned due to non-sufficient fund (NSF). You must
bring your account back to a positive balance within 30 days.
“If I had a million dollars”
An English teacher asked her 8th grade class to
write an essay on what they would do if they had
a million dollars. Larry handed in a blank sheet
of paper. “Larry!” yelled the teacher, “you’ve done
absolutely nothing. Why?” “Because if I had a
million dollars, that’s exactly what I would do!”
Share Certificate Rates!
12 month
24 month
36 month
48 month
$500 minimum
$100,000 minimum
1.26%APY*
1.61%APY*
1.97%APY*
2.07%APY*
1.46%APY*
1.81%APY*
2.07%APY*
2.22%APY*
* By maintaining a Five Star Level account, members
are also eligible for additional 0.50% APY divident
bump rate on certificate accounts above the APYs
shown above.
DIVIDENDS COMPOUNDED AND PAID MONTHLY
A penalty will be imposed for early withdrawals from
these instruments. The Annual Percentage Yield
(APY) offered as of September 1, 2010 at press time.
Minimum Balance Required is $500. Rates are subject
to change. IRA Certificates also available.
For more Information, call (334) 793-7714 (option 3)
3
Thinking About Buying a New Car?
FSCU Auto Rates are as Low as 3.99% APR
The end of the year (September through December) is the best time to purchase a
new car. The reason is because automobile manufacturers start releasing their 2011
models and that means dealerships need to sell off any remaining inventory of
2010 models. This means prices on 2010 models can drop 10 – 20 percent and
manufacturers often offer large cash incentives and rebates on certain vehicles which
could mean big savings for you. And the best car loan you can get is from YOUR Five
Star Credit Union. For more information or to apply, contact a Lending Specialist
today by calling 1-888-619-1711 (choose option 2 for loans) and get pre-approved
before you shop. * Loan rates based on credit scores and other lending related factors.
NCUA Makes $250,00 Share Insurance Permanent
“A Full Service Financial Institution”
Points of Interest
is published quarterly for the members of Five Star
Credit Union. Any suggestions or comments may be sent
to: Steve Brown, Newsletter Editor
Five Star Credit Union
P.O. Box 2028
Dothan, AL 36302
E-mail: browns@fivestarcu.com
©2010. Five Star Credit Union.
On July 21, 2010 the Dodd-Frank Wall Street Reform and Consumer Protection Act was
signed into law. One of the benefits of the bill was that it permanently raised the current
standard maximum NCUA share insurance to $250,000. That amount was scheduled to
revert to $100,000 in December 2013. Five Star Credit Union is a federally insured credit
union and your deposits with FSCU are fully insured for at least $250,000 and are backed
by the full faith and credit of the U.S. Government. For more information visit a FSCU
branch or the NCUA website at www.NCUA.gov
“The greater danger for most of us lies not in setting our aim too high and falling
short, but in setting our aim too low and achieving our mark.”
-- Michelangelo, Artist
ACCESS 24 HOURS-A-DAY...
7 DAYS-A-WEEK
Page 3 puzzle solution
board of directors
Billy Lisenby - Chairman
Odis Buxton - Vice Chairman
Gary E. Manz - Secretary
J. Wallace Johnson - Treasurer
W. Angelo Cloud
Susann J. Culpepper
Harold Stepler
supervisory committee
Janice Green - Chairperson
Jennifer Tharpe - Secretary
Bobby Swann
management
Robert A. Steensma - President/CEO
Deborah McRae - Vice President, Member Service
Kevin Hill - Vice President/CFO
Jeff DeShane - Vice President, Sales & Lending
Larry Hickerson - Director, Information Technology
Deborah Street - Director, Mortgage Lending
Steve Brown - Director, Marketing
www.FiveStarCU.com
1-800-995-STAR (7827)
In The Dothan Area, Call: 836-2050
LOCATIONS TO
SERVE YOU
georgia
ATTAPULGUS OFFICE
Donna Trammell - Branch Manager
111 N. Main St. • P.O. Box 280
Attapulgus, GA 39815
Phone: (229) 465-3461
M-F 9:00-5:00
CAIRO OFFICE
Vickie Gainous - Branch Manager
818 1st Ave., NE • P.O. Box 794
Cairo, GA 39828
Phone: (229) 377-8965
M-F 9:00-5:00
CEDAR SPRINGS OFFICE
Tracey Kirkland - Branch Manager
4367 Georgia Highway 370 • P.O. Box 265
Cedar Springs, GA 39832
Phone: (229) 327-4586
M-F 9:00-5:00
4
Federally Insured by the NCUA
DONALSONVILLE OFFICE
Sheryl Rogers - Branch Manager
305 West 3rd. Street
Donalsonville, GA 39845
Phone: (229) 524-2500
M-F 9:00-5:00
INSIDE WALGREENS
1410 E. Shotwell St.
Bainbridge, GA 39819
501 US Highway 84E
Cairo, GA 39828
ONLY
alabama
DOTHAN OFFICES
EUFAULA OFFICE
Sarah Meadows - Branch Manager
1905 South Eufaula Ave.
Eufaula, AL 36027
Phone: (334) 687-8864
M-Tu 8:30 4:00 / W 8:30-2:00
Th-F 8:30-5:30
INSIDE WALGREENS
Offices With ATMs
ONLY
2041 E. Main St. (Ross Clark Cir. & 84E)
Dothan, AL 36301
2940 W. Main St. (Westgate Pkwy. & 84W)
Dothan, AL 39303
3574 Montgomery Hwy (Westgate Pkwy & 231N)
Dothan, AL 36303
Gail Scott - Branch Manager
411 North Foster St. • P.O. Box 2028
Dothan, AL 36302
Phone: (334) 793-7714
Toll Free: 1-888-619-1711
Lobby: M-F 9:00-5:00
Drive-Thru: M-W 9:00-5:00/T-F 9:00-5:30
Terri Martin- Branch Manager
3331 West Main St. • Hwy. 84 West
Dothan, AL 36305
Phone: (334) 794-8171
M-W 9:00-5:00/Th 9:00-5:30/F 9:00-6:00
HEADLAND ATM ONLY
16662 Highway 431 South
Headland, Alabama 36345
Call Toll Free 1-888-619-1711 for Member Service
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