Oct 20, 2016 - provide affordable credit to each other. These principles are ... and local disaster recovery. Here are s
CU
W E I V E R VOLUME 25
In this issue... Page 1 •
The Authentic Difference
• • •
Giving Back Find Your Happy Place Show Your Wallet Some Love
• • •
Best Deal on a New Car Upcoming Events SIUCU Updates
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SIUCU Investment Services Branch Locations
Page 2
Page 3
Page 4
Mark Your Calendar Oct 1 - Southern Illinois Heart Walk Oct 10 - Columbus Day - CLOSED Oct 20 - International Credit Union Day Oct 20 - Super Shredder - Carbondale Nov 11- Veterans Day - CLOSED Nov 24 - Thanksgiving - CLOSED Dec 26 - Christmas (Observed) - CLOSED
Connect Online With SIU Credit Union
Mission Statement
We’re working for you.
www.siucu.org
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ISSUE 4
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16 OCTOBER 20
International Credit Union Day Celebrates The Authentic Difference On October 20, 2016, credit unions around 5. Distribution to Members the world will celebrate International Credit Credit unions return all profits to their members through dividends, lower fees, better Union Day (ICU Day). savings rates, and improved services. Credit unions are not-for-profit financial cooperatives, offering the same services as 6. Building Financial Stability other financial institutions, but with a peo- Credit unions are historically stable organiple-first philosophy. Since 1948, on the third zations. They’re owned by the people they Thursday of every October, credit unions serve, so they don’t take unnecessary risks. have celebrated the principles that make credit unions the best financial partners of 7. Cooperation Among Cooperatives people all over the world. “The authentic Credit unions and cooperatives share the difference,” this year’s ICU Day theme, ze- same principles. Together, they amplify roes in on what makes credit unions differ- each other’s good works. ent from banks, fintech startups and other 8. Social Responsibility financial institutions—our principles. Credit unions strive for social justice by comCredit unions all over the world have operated according to the same core principles since the 1850s, when a group of weary German workers, tired of being exploited by loan sharks, formed the world’s first credit union by banding together to provide affordable credit to each other.
mitting to strengthening their communities and helping people of modest means. 9. Ongoing Education Credit unions prioritize financial education for their members, employees, and communities as part of their pursuit of social justice.
These principles are derived from the 7 co- This is why we celebrate ICU Day at SIU operative principles, shared by all cooper- Credit Union. We think ideas like people atives. They are: before profit, social responsibility, and financial education improve lives. It’s why 1. Democratic Control One member = One vote. Whether you cooperative banking is a key component of helping people in developing countries have $5 or $5 million, your voice is equal. get access to microloans, or a middle-class 2. Open and Voluntary Membership couple in southern Illinois receive an affordMembers are connected by a bond of as- able mortgage for their first home. sociation, fostering a sense of community. So when we wish you a Happy ICU Day at 3. Non-Discrimination SIU Credit Union, know that we’re thankCredit unions are open to all without re- ing you for belonging to a movement gard for race, orientation, nationality, sex, that’s helping your neighbors—and people religion, gender, or politics. around the world—grow and thrive and follow their dreams. 4. Service to Members Credit unions are ranked No. 1 in service If you have any questions about the credit in numerous surveys, because they exist to union philosophy or how SIU Credit Union serve members, not profit. can help you, stop by or contact us at 618457-3595 or at
[email protected].
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GIVING
BACK
At SIU Credit Union, we love to help our communities by volunteering or donating to local charities and organizations. After all, we’re in the business of people helping people. Each year our staff volunteers hundreds of hours of community service to events such as youth financial education, This Able Veteran, Relay for Life, Southern Illinois Heart Walk, and local disaster recovery. Here are some recent ways that SIU Credit Union has impacted the communities we serve.
This Able Veteran Color Run/Walk
happy Find your place
Part of the American dream is to become a homeowner. We dream of a place that we can call our own. A place that is comfortable and safe. A place we are proud of. A place where we can plant the roots for our future. Our happy place. To some however, the process seems so overwhelming and the concern of whether or not you are “doing it right” deters some from achieving the goal.
Now in Marion!
Let SIU Credit Union’s experienced Mortgage Lending team provide you with financing options along with information about down payment, credit, income requirements and everything else you need to know about your mortgage.
Michele began her mortgage lending career in 1990 and has been with SIU Credit Union for three years.
Knock Hunger Out of the Park
If you have an organization or event that could use some volunteers, visit our website at siucu.org/givingback to learn how our staff might be able to help with your event or cause.
We’re working for you. 2
Michele Swan
Give her a call to setup an appointment today! 618-457-3955 ext. 3501
Show Your Wallet Some Love
Many people have realized how inconvenient it is to carry cash, and are carrying just debit cards in their wallets. Debit cards are great, but there’s another option--show your wallet some love! Compared with debit cards, credit cards are: American Red Cross Blood Drive
To better serve our membership, you can now meet with Michele Swan, Mortgage Loan Officer, at our Marion branch located at 2809 Outer Drive.
• Accepted in more places • Have fraud liability protection built in • A great way to build your credit score, if used responsibly
you in a terrible position if you lose your job or something else unfortunate happens.
• Low fees: Look for two factors: grace periods and the annual percentage rate (APR). Make sure the card you’re investigating offers a grace period between your charge and the interest accumulation of 28 to 30 days. APRs are usually between 17% and 27% so look for a low APR. Avoid interest by paying your credit card off in full each month.
Make sure you get a credit card that gives you the features you want while paying as little as possible for them. When shopping As a valued member of SIU Credit Union, for a credit card, look for: you can enjoy an easier way to pay. Everyday. Just ask for your new Visa® Platinum • No annual fee: Watch out for fees that or Platinum Plus credit card*. With no ancan be charged automatically to your nual fee, a fixed APR as low as 7.9%, and an card, such as an annual fee. Find a optional rewards program where you can card with no annual fee or call to see if earn up to 1% cash back, it’s everything the card you’re considering will waive you’ve come to expect from SIU Credit the fee. Union...and a whole lot more. • Rewards: Rewards programs are a nice bonus but don’t let them be the deciding factor. First, rewards are shrinking across the board. Second, reward expiration dates might encourage you to spend recklessly. Third, paying for everything with a credit card can put
Maybe it’s time for you give your wallet a treat. Stop by SIU Credit Union to get the best deal on your credit card. Visit us online at siucu.org or call us today at 618-4573595. *All loans subject to credit approval.
www.siucu.org
Pick Your Rate
0
Rates as Low as
% APR *
No Payments for 90 Days
5 Tips for Getting the Best Deal on a New Car So you’ve found the perfect car. You’ve shopped around, and this car has your name on it. Well, not quite yet. Not if you want the best deal anyway.
Examples of items that can be brought for shredding include:
1. Go to your credit union and get preapproved for an auto loan.
2. Price check.
will be trying to hit their monthly sales goals, and you can take advantage of that situation. And, if you can hold off ‘til the end of the year, most dealerships are trying to unload inventory, that’s a great time to buy! 4. Stick to the price of the car. Don’t get pulled in another direction with options for add-ons, trade-in value or a lower monthly payment. You can negotiate those things after you’ve confirmed the price of the car—that’s the number you should be negotiating. Everything else is a distraction.
You’re online anyway, so check out Edmunds, or Kelley Blue Book. These sites have amazing stats that can help you figure out the dealer’s wholesale cost— that’s the price the dealership would pay the car manufacturer. Also, shop around to find out how other dealers 5. And if the price is still too high, don’t be are pricing your make and model. afraid to walk away. 3. Shop on a week day, at the end of the Even if you believe this car is perfect, month, and even better at the end of the be prepared to let it go, and don’t year. look back. If you’ve followed these tips, you’ll know if it just wasn’t meant Yes, if you can slip out of work on a to be anyway. And when it is meant to weekday when there aren’t a lot of be, your credit union will still be there potential buyers in the place; the dealto give you a loan you know you’ll be ership will be eager to make a deal. able to afford. At the end of the month, dealerships
www.siucu.org
SIU Credit Union, with the assistance of WPSD Local 6, is hosting the final Super Shredder event of 2016 at our Carbondale Branch on Giant City Road. Join us on Thursday, October 20 from 10 am - 5 pm. Anyone can bring up to 50 pounds of personal documents to be shredded on-site for free. Shredding services are provided by DataLock.
Here are five simple things that can help you afford the car of your dreams.
We make it easy to get preapproved at SIU Credit Union. Stop by any branch or apply online at www.siucu.org.
EVEN
Apply today!
*Annual Percentage Rate. Individual rate is determined by an evaluation of the applicant’s credit history and the base rate that is chosen. Members will pick their rate at random. Excludes credit cards, business loans, student loans, mortgages, and home equity loans. The available discounts range from 0.25%–2.25% APR. Offer subject to credit approval. All rates subject to change at any time without notice. Offer good on 2004 vehicles or newer. Existing SIUCU loans are excluded from this offer. No additional deductions allowed for CU at Work partners or Power Point Rewards. Promotional rates only valid October 1-31, 2016. Maximum term is 60 months. 60 months payments at 2.25% APR is $17.64 per $1,000 borrowed. Membership required. Federally Insured by NCUA. Call 618-457-3595 for additional information.
Because credit unions are not-forprofit, and owned by their members, you can get better borrowing rates. Plus, knowing exactly how much you can spend, your interest rate, and what your monthly payment will be really gives you confidence when sitting across the desk from the salesperson.
UPCOMINGTS
• Credit Union / Bank Statements and Old Checks • Medical & Insurance Forms • Anything with your Social Security number on it • Retired Tax Forms (over 3 years old) • Credit Card Statements
Santa Claus Is Coming Soon! Santa Claus is getting his sleigh ready to come visit our branches once again this year! Mark your calendar to make sure you don’t miss out on free pictures with Santa Claus along with holiday cheer and refreshments. Santa will be at all branch locations between the hours of 2 - 5 pm. • November 29 | Metropolis • November 30 | Harrisburg • December 1 | Marion • December 2 | Energy • December 6 | Carbondale-West • December 7 | Carbondale-East
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A Message from
SIU CU Investment Services
Scott McClatchey, CFP
Kids & Money:
Important Lessons Start Early in Life Today many affluent families are concerned about the potentially adverse effect of wealth on younger generations. As a result, the goals that many high-net-worth parents and grandparents have set for their children or grandchildren reflect core values, an honest work ethic, and a desire to give back to the greater community.
Walking the Talk The skills and knowledge needed to help children achieve these goals should be developed early in life and continue well into adulthood. The following strategies can assist older family members in becoming positive financial role models for children. Start early -- Parents can start talking to children about money at as young as age three. Between four and five, you can explain the importance of good spending habits, and by age six or seven, you can help children open a bank or credit union savings account. By the time children reach their mid-teens, they should start seeking after-school and summer employment. Support education -- Personal finance education helps instill such pragmatic money management skills as setting a budget, balancing a checkbook, understanding the role of debit/credit cards, and developing strategies for funding college. Encourage your child’s school to offer personal finance as an elective “life skills” course, send your teen to a community college/adult education class, or tap the many educational resources available online. Lead by example -- Your children will learn the most valuable lessons about money from examples you set. A few simple rules: Enjoy the fruits of your labor -- but don’t go overboard. Set a healthy example regarding credit card use. Pay your bills on time. Save and review your savings plan on a regular basis. Above all, be consistent. Use incentives -- To ensure that important life goals remain at the forefront of your children’s -- and likely heirs’ -- priorities throughout their lifetimes, incorporate the use of incentives in your estate plan. What exactly is an incentive trust? It is an estate planning tool designed to reward desired behaviors or impose appropriate penalties for undesirable behaviors. It also provides a
way to address the needs of beneficiaries who require special assistance. Common themes guiding incentive trusts are education, moral and family values, and business/ vocational choices, as well as charitable and religious interests. Encourage philanthropy -- Affluent families often use philanthropy to convey the message that their success has been the result of hard work and good fortune, and that success comes with the responsibility to give something back. If you want to ensure future generations of volunteers and donors, you must model for children various ways to give of their time, their talents, and their money. Once children understand the scope of their contributions, philanthropy often becomes a real and meaningful part of their lives. If you are interested in developing a legacy plan that incorporates some of the ideas mentioned here, consider seeking the guidance of a financial and estate planning professional. Together you can create a plan that instills financial responsibility in children for generations to come. This communication is not intended to be tax or legal advice and should not be treated as such. Each individual’s situation is different. You should contact your tax/legal professional to discuss your personal situation.
Scott McClatchey provides investment and retirement planning services to SIU Credit Union members through a partnership with Alliance Investment Planning Group. A CERTIFIED FINANCIAL PLANNERTM, Scott keeps regular office hours from 9:00 to 1:00 on Tuesdays at the Carbondale East branch and is also available by appointment. Call 618-549-8632 to set up an appointment with Scott.
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BRANCH IONS
LOCAT
Mailing Address P.O. Box 2888 Carbondale, IL 62902 Carbondale 1217 West Main Street Lobby Hours Mon-Thurs 9:00 am - 5:00 pm Friday 9:00 am - 6:00 pm Drive Up Hours Mon-Thurs 7:30 am - 5:00 pm Friday 7:30 am - 6:00 pm Saturday 8:00 am - 1:00 pm 395 N. Giant City Road Lobby Hours Mon-Thurs 9:00 am - 5:00 pm Friday 9:00 am - 6:00 pm Saturday 9:00 am - 1:00 pm Drive Up Hours Mon-Thurs 7:30 am - 5:00 pm Friday 7:30 am - 6:00 pm Saturday 8:00 am - 1:00 pm Energy 300 S. Pershing Lobby Hours Mon-Fri Drive Up Hours Mon-Thurs Friday Marion 2809 Outer Drive Lobby Hours Mon-Thurs Friday Saturday Drive Up Hours Mon-Thurs Friday Saturday
9:00 am - 5:00 pm 8:00 am - 5:00 pm 8:00 am - 6:00 pm
9:00 am - 5:00 pm 9:00 am - 6:00 pm 9:00 am - 1:00 pm 7:30 am - 5:00 pm 7:30 am - 6:00 pm 8:00 am - 1:00 pm
Metropolis 704 East 5th Street, Suite 1 Lobby Hours Mon-Fri 9:00 am - 5:00 pm Drive Up Hours Mon-Fri 9:00 am - 5:00 pm Harrisburg 777 Ford Street Lobby Hours Mon-Fri
9:00 am - 5:00 pm
Phone Numbers Local Toll Free Q-Phone
618-457-3595 800-449-7301 800-455-0169
Federally insured by NCUA
www.siucu.org
