HOLIDAY CLOSINGS:
· Monday, Oct. 11 - Columbus Day
· Thursday, Nov. 11 - Veteran's Day
· Thursday, Nov. 25 - Thanksgiving Day
· Friday, Dec. 24 - 3 p.m. closing, Christmas Eve
· Saturday, Dec. 25 - Christmas day
· Friday, Dec. 31 - 3 p.m. closing, New Year's Eve
· Saturday, January 1, 2000 - New Year's Day
From the President ...
By Rick Brandsma, President and CEO
As the last quarter of the year begins, I am pleased to update you on our enhancements to member service and our delivery systems.
Westgate Branch - We are refining our design for
the new branch. Paramount to the design is ease of access, functionality
and security. We are designing it to be able to offer a full-service
branch with an ATM and drive-up lanes. As we continue to make
decisions with your requirements for service in mind, our excitement
about the new branch grows. We look forward to adding it to our
existing branch network during the year 2000.
C.U.B.E. Online Banking - C.U.B.E. (Credit Union Banking
Electronically), our online banking system is moving forward.
We have our firewalls installed and are in the final stages of
testing and insuring the security of the infrastructure. A Beta
Test list of interested members has been compiled and they will
be receiving instructions in the very near future. Those members,
along with staff, will be working any bugs out and assuring that
the introduction to the entire membership goes smoothly. There
are many exciting features and we anticipate offering it to you
4th quarter, 1999. It will be easily accessed through our website,
www.telcocu.com.
New VISA Products - With the strong economy and interest rate environment, we will be adding two new VISA cards to our product line. We continue to look for ways to make our products as attractive as we possibly can. Please see the lead article on page one and look for additional information soon!
The next time we talk, it will be a new millenium. The last
one has brought so many advances, our great-great grandparents
would scarcely recognize this world we live in. As we approach
year-end, I am pleased to report that Telco Community is ready
to meet Y2K successfully. I would also like to take this time
to wish you and yours the best of the holiday season.
Just in time for the holidays,
we are enhancing our current VISA Program and adding two great
new cards.
VISA Enhancements - For members with existing Telco Community VISAs, we will be offering our January Skip-a-Payment feature. Any purchases made between November 30th and December 26th that appear on your December statement, will not be due until February 26th. If you do not have a Telco Community VISA, and you open a new account by November 10th, you will be able to take advantage of this Skip-a-Payment feature. As an added incentive, we will be dropping our VISA GOLD rate to 12.5% and our VISA CLASSIC is a low 13.9% ... no teaser rates that will jump to 18% the following month ... just great holiday value year round.
New VISA GOLD Prime and CLASSIC Prime Cards - Many members have asked for a variable rate card that enables them to take advantage of the low interest rate environment. NOW WE HAVE TWO! Beginning December 1st, we will be offering two exciting new VISA Cards. That mean that rates will start as low as 10.25% on the GOLD Prime and 11.25% on CLASSIC Prime.
Four great choices to fit your lifetstyle and holiday shopping
needs ... Make sure you have your Telco Community Credit Union
VISA Card in your wallet when you do your shopping! For an application
or more information, call 253-383-2016 and ask to speak to a Member
Service Officer.
Telco Community Credit Union's Annual Meeting and Elections will be held Thursday, March 9, 2000. If you are interested in becoming or nominating a candidate for office, please contact Richard C. Brandsma, President and CEO, for more information.
Telco Community Credit Union has completed all the necessary testing and system changes to assure Y2K compliance. A third party audit has confirmed that the testing was accurate and we will have contingency plans if any service providers experience problems. We are ready to meet the new millennium and want to pass along some information that may assist you and your family.
YEAR 2000 PREPAREDNESS INFORMATION
Maintain Copies Of Your Statements And Records
We know that you are all good record keepers, but it is especially
important to keep your monthly and quarterly statements plus transaction
records in a separate safe location for the third and fourth quarters
of 1999. Keeping records will assist in spotting potential errors,
but also to help us rapidly correct any that may occur.
Telephone Based Voice Response System -- Quickline
Sign up for Quickline, our telephone transaction service which
provides account access over the telephone. On Quickline you
can order copies of your statements stored on our digital retrieval
system. Our Call Center will be happy to assist you. Just call
(253) 383-2016 and press 3 during normal business hours.
Federal Deposit Insurance
Telco Community Credit Union is a state chartered credit union
and maintains federal insurance. Individual accounts are insured
by the National Credit Union Share Insurance Fund (NCUSIF) for
up to $100,000. The NCUSIF is the insurance fund of the National
Credit Union Administration (NCUA) an agency of the federal government.
Personal Liquidity Needs
Surveys indicate that as confidence continues to build approaching
the millennium, the rollover will transition with little fanfare.
Furthermore, individuals sentiments about the importance of holding
cash has diminished. Please do not over react and choose to hold
large quantities of cash, money orders or travelers checks.
A recent survey indicated that of all average households that
responded, approximately 30% intended to hold less than $500 in
cash over the Year 2000 transition weekend.
Basic Internet Structures Expected to be Y2K Ready
According to John A. Koskinen, Chair of the President's Council
on Year 2000 Conversion, "The good news is that the basic
foundation of the Internet is expected to be ready for the year
2000. Overall, the Internet is a very redundant system that should
continue to function even if there are Y2K problems..." These
remarks were make by Koskinen July 30 after a roundtable meeting
at a press conference sponsored by the President's Council on
the Y2K conversion.
Beginning in October, the PLAN AMERICA Program will be changing to MEMBERS Financial Services.
The financial management program offers a wide variety of investment, insurance and related services to credit union members. The name change will not affect any current programs and financial management representatives, like myself, will remain located at the credit union to assist members.
The new name clarifies the program and its purpose. I am completely focused on helping you achieve your personal financial goals.
MEMBERS Financial Services will offer enhanced access ... our new website will allow you to get information, research options and check accounts. For more information on the program or the name change, please call me at 597-7622.
MEMBERS Financial Services is a service of CUNA Brokerage
Services, Inc., 5910 Mineral Point Road, Madison, WI 53705, Member
NASD, SIPC. MEMBERS Financial Services Representatives are also
licensed insurance representatives of CUNA Mutual Life Insurance
Company. The products offered through the MEMBERS Financial Services
Program: 1) are not insured by NCUSIF or any agency in your state
or the federal government; 2) are not deposits; 3) are not obligations
of the credit union; 4) are not guaranteed by the credit union
or any affiliated entity; and 5) involve investment risks, including
the possible loss
of principal.
For over 50 years, we've been setting aside the third Thursday
in October to celebrate International Credit Union Day and this
year is no exception. Each year it becomes more and more important
to promote understanding and support for the credit union difference.
In 1848, Freidrich Raiffeisen, mayor of Flammersfeld, Germany
conceived the idea for a credit union to help alleviate the distress
of farmers suffering from the famine that had struck the district.
That tradition of people helping people has continued throughout
the last century and a half. We will continue that tradition
into the new millennium.
This year, International Credit Union Day is Thursday, October
21, 1999, and over 97 million people belonging to 39,007 credit
unions will be working to preserve the principles that make us
unique. We invite you to stop at one of our branches to enjoy
the refreshments that will be offered during an Open House from
9:00 a.m. to 4:00 p.m. Join our staff as we "Celebrate the
Credit Union Difference."
We have cars for sale that were returned to us for non-payment.
Bidding on most start at below market prices. If you are interested,
check with your local branch for the latest list or call Mike
in Accounts Control at (253) 597-7612. Lists are updated weekly,
so call today.
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