York Educational Federal Credit Union
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April, 2005 Phone (717) 843-1153
York Educational Federal Credit Union has always been careful to verify the identity and employment of each new member. We have also followed “recommended security procedures” in verifying identity of members when they visit our office or call in to do financial transactions. Our procedures have, to the best of our knowledge, prevented any financial loss for any CU member … ever. The USA Patriot Act and recent updates to the Bank Secrecy Act have imposed new identity verification requirements and fraud prevention guidelines on all financial institutions. YEFCU has instituted several new security procedures to enhance our protection of member identity and members’ funds. One step recently implemented by YEFCU is to scan photo ID’s (like a driver’s license) into our computer system. All new accounts now include the photo ID as part of the account-opening process. We want all members to have this added security feature, so that when you come in to the office to do any transaction, our teller has the ability to pull up your photo ID on her computer as she is waiting on you. This will guarantee she is accessing the right account, giving funds to the proper person. This feature will be especially useful to a new employee of the CU, who may not know you, but can positively identify you via your photo ID. We encourage all members to take advantage of this new security feature. In order for the technology to be most beneficial, we need your photo ID (and your joint account owner, if you have one). The next time you visit the CU office, bring along your driver’s license. Ask the teller to scan your photo ID into our system. It will take 3 or 4 minutes, but the added security for your account is well worth the time. Bring along your spouse/joint owner so we can also scan their photo ID to your joint account. All photo IDs are stored on our CU’s secured server. It is only accessible to staff within the CU office. The data is not accessible by internet, by website, nor via home banking. Make your account as safe and secure as possible. Visit us soon with your driver’s license. We’ll add your lovely face to your account file, insuring that no one else will gain access to your YEFCU accounts at the CU office.
FEVER Recent rains have washed away the last remnants of snow, road salt and loose gravel. The crocuses are blooming by the CU entrance. Tulips, daffodils and hyacinths are pushing up through the soil. The birds are pairing off by twos and the squirrels are busy. Temperatures are warm enough that the brave are venturing out in shorts with no jacket. There is the occasional convertible driving by with the top down (and the heater on). Spring fever is all around us. Have you looked around your home? Are you making plans to clean up winter’s debris and do some planting or landscaping? Have you thought about a new mower or lawn tractor? Considering a new set of golf clubs? Or are you making bigger plans, like a new deck, patio, or pool? If your “Spring fever” ideas are bigger than your wallet or savings account, consider your credit union for help. We have signature loans for the mower, shrubbery, golf clubs, or a truck load of mulch – at rates much lower than store charge cards or credit cards. We also offer home equity loans for major purchases and home improvement projects, at very competitive rates. If winter was hard on the family car or van, then Spring is a great time to “car shop.” Manufacturers have all experienced a slow-down in sales, and are offering great incentives, rebates, and discounts on almost all models. Lower new car prices help keep late model used car prices in check, too. At YEFCU we have great loan rates on both new and used vehicles. New vehicle rates are as low as 4.49% APR, while used vehicle rates are as low as 5.49% APR for 36 months. Talk to our loan officers about rates and payments. Shop for the best rate and payment, just like you shop for the best deal on the car or truck.
Remember that YEFCU will beat any dealer-arranged bank financing by .10% for
qualified members, if you can provide a copy of the dealer’s offer in
writing.
The interest rate for Home Equity Line-of-Credit Loans will be 6.46% APR for the 2nd Quarter of 2005, April 1st through June 30th. If you do not presently have a home equity loan, either the variable rate Line-of-Credit, or the fixed rate home equity, consider the advantages. Home equity loan rates tend to be among the lowest rate loans available. Interest paid on a home equity loan is deductible when you file your Federal Income tax, just like first mortgage loan interest (contact your tax preparer to see if you qualify for the deduction). Best of all, from now through May 31, 2005 you can save $100 off the application fee for any type of Home Equity Loan (normally $235). Just present the coupon below when applying for your loan.
On March 5th 138 members and guests attended YEFCU’s 36th Annual Meeting and banquet. During the business meeting CU members elected incumbents Helen Andrews and John Mohr to three year terms as director. Eldred Atkinson was also elected as a director, taking the position held by retiring Board member Emma Lou Zarfoss. We congratulate these three volunteers as they join our other eight Board members for 2005.
Congratulations and a big credit union “thank you” goes to these individuals who have reached milestones in their service to YEFCU. Each was awarded a certificate of appreciation and a gift during the Annual Meeting. William Eddins was recognized for 10 years of volunteer service to the Credit Union Supervisory Committee. Employee Carol Miller was recognized for 20 years of service to our members as a teller, loan officer, and Federal Reserve/electronic banking specialist. Emma Lou Zarfoss chaired her last Annual Meeting, retiring from the Board with 27 years of service, the last 13 years as Chairman of the Board.
In reviewing her accomplishments, Vice Chairman Natalie Nardecchia pointed out that Emma Lou was one of the individuals to bring the idea of a credit union to coworkers at York Suburban School District. This idea culminated in the chartering of this credit union at its’ 1st Annual Meeting, April 28, 1969. Emma Lou participated in that meeting. A hearty “Thank You” to these three folks, and to all the CU volunteers and employees for their ongoing efforts to help YEFCU fulfill its’ mission of meeting the financial needs of all members. Mark your calendar and plan to attend the 37th Annual Meeting and banquet March 4, 2006 at the Hellam Fire Company Social Hall.
When you travel, whether for vacation or business, it is important to protect your money and “travel safe.” Credit Union members can purchase VISA Travelers Cheques fee free. This has traditionally been one of the safest ways to carry “cash” when you travel. We keep an adequate supply of these cheques in stock in $20, $50, and $100 denominations. We also offer two-party travelers cheques, which can be used by either of the two purchasers. VISA has recently introduced some new products that offer more convenience and security for travelers. The first new product is called VISA Cash Passport. It is available at YEFCU now. VISA Cash Passport is a plastic card that can be “filled” with any amount of money you wish, from $50 to $9,999. The card is then used to access cash, using a PIN number, at any ATM worldwide with the VISA logo. The card costs you $5.00 to purchase, regardless of the amount of money you put on it. You can “reload” the card anytime you wish, via phone or the internet, at a cost of $2.00. The card remains valid for three years from the date of purchase. You will be able to check the card’s balance at any time at no charge via the internet. Funds will be replaced if the card is lost or stolen. The cost for a withdrawal of US dollars at any ATM is $2.00, and the cost of a withdrawal in international currency at any ATM worldwide is $2.50.
VISA Cash Passport can only be used to obtain cash from an ATM. It cannot be used to make a purchase at merchants. Please contact our staff for details about this exciting new VISA product, or visit their website: www. cashpassportcard.com. Other features and benefits include: · 24/7 access to local cash via 870,000 VISA ATMs worldwide · Additional cards available for security or for a traveling companion to share the same funds · 24/7 Internet and phone access to customer support · Emergency Assistance services free of charge: emergency cash, replacement travelers checks, assistance with lost passport and cards, (details with card) · No need to carry ID to exchange for cash outside of USA
Another new product from VISA is the VISA gift card. It
will work similar to the gift cards you can purchase at a store (Lowe’s,
Target, Home Depot, Wal-Mart, etc.). However, the
VISA Gift Card can be used for a purchase at any merchant that
accepts VISA. We have received a
supply of these gift cards, and hope to have them available for purchase by
mid-April.
York Educational FCU prides itself on personal service to all members. You will find our staff makes every effort to meet your financial needs in an efficient and friendly manner, whether face-to-face or over the phone. Recent bank mergers in our area have resulted in some most unusual bank charges to long-standing bank customers. Banks have reported record profits for 2004, yet more and more services result in charges or fees. Sovereign Bank, new owner of Waypoint Bank (formerly York Federal S&L), issued a Personal Deposit Account Fee Schedule to customers at the time of merger in February. Some customers, while moving their savings and checking accounts to YEFCU, have complained to us about what they consider unreasonable charges. The most ridiculous … “telephone inquiry-agent assisted - $2.00 per request.” This listing is accompanied by a footnote stating that the fee does not apply to Premier Options Checking accounts. We’ll talk to you … free, no matter what kind or size accounts you have. Expect Service, not fees at York Educational FCU. |
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