Volume 10, Issue 4 | Oct-Dec2013
2
Get Ready for International Credit Union Day!
Help Us Feed Tulsa
Families this Thanksgiving
Throughout the month of October we will
be taking non-perishable food donations
to help feed families across Tulsa.
In addition to the donations, any
member who donates 5 cans can get a
reduced loan rate by .1%. Members who
bring in 10 cans can get a reduced loan
rate of .25%.
On October 17th, we will be celebrating International Credit Union
Day with an assortment of desserts from around the world, along with
punch and free giveaways!
International Credit Union Day (ICU Day) has been celebrated on the
third Thursday of October since 1948. The day is recognized to reflect
upon the credit union movement’s history and to promote its achievements. The ultimate goal is to raise awareness about the great work
that credit unions are doing around the world and give members the
opportunity to get more involved.
As your credit union, we promise to always put YOU first! Every
member will always have equal ownership and one vote regardless of
how much money you have. We exist to serve YOU, and we will
always be a not-for-profit organization. Not a single credit union was
bailed out during our economic recession, so you can always trust
that your money is safe with us!
We hope to see everyone come out on ICU Day! It will be a fun and
delicious way to get involved with the movement! We will also be giving away T-shirts to the first 25 people who come into each branch,
so make some time to come by and show your support!
From the President’s Desk…
You know you are getting old when you say things like, “I can’t believe it’s already October!” Well, I can’t believe It’s already October,
so what does that tell you? (hint: I’m old!) This year has really flown
by, and while we accomplished a lot, we have so much more to do!
We are already planning next year’s Annual Meeting. Right now, it
looks as if it will be in a location we’ve never been to before! We are
still in the early planning stages, but we are always thrilled to be able
to bring you an adventure for your whole family. Last year’s Grand
Prize Winner certainly had an adventure on his trip to St. Louis (see
pics below).
We tried a membership drive in September. It was not as successful as we had hoped. As a member of Encentus, you know the number of services, the low cost of those services, and the level of member service we provide every day. You experience it firsthand. Why
not bring your family and co-workers on board, too? There’s truly no
better place to bank than a credit union, especially ours!
With the holidays right around the corner, we have a lot of special
programs going on. Join us in the fight against breast cancer, help us
provide Thanksgiving dinner to local families, and celebrate credit
unions with us on International Credit Union Day. And, as always, if
you have any recommendations, let us hear from you!
Annual Meeting Grand Prize Winner
William Sherwood had a wonderful time at the St. Louis Zoo! We are
so happy that we could be a part of such a fun vacation for one of our
members! Who knows, next year it could be you!
Our Volunteers
Board Members:
Jana Hallman, Chairman
Dwayne Sumter, Vice-Chair
Katherin Kraus, Secretary
Michael Conner, Treasurer
Aaron Woodhead, Asst. Sec.
Barbara Dawes, Member
Shelley Ramsey, Member
Margaret "June" Hogue
Heather Korgan, Member &
Supervisory Committee Chair
Supervisory Committee:
Leslie Wright
Melodee Ruiz
Yassir Janah
Contact Info:
Website: www.encentusfcu.org
Email: [email protected]
Phone: 918-430-3500
Address: 1320 S. Lewis Ave., or
1924 S. Utica Ave., Suite #G06
Tulsa, OK 74104
CALENDAR OF EVENTS
Consumer Tips:
These tips could
really save you
some money!
Determining the Best Car Loan
Mark your calendar for the following
dates. Your credit union will be
celebrating some events with food,
give-aways and/or specials for our
members! Also included are holiday
closures:
Oct 14:
Oct 16:
Oct 17:
Oct 31:
Nov 3:
Nov 6:
Nov 11:
Nov 28:
Nov 29:
Dec 2:
Dec 7:
Dec 25:
Dec 31:
Jan 1:
Columbus Day (Closed)
National Boss’ Day
ICU Day
Halloween
Daylight Savings Time
Election Day
Veterans Day (Closed)
Thanksgiving (Closed)
Black Friday (Half Day)
Cyber Monday
Pearl Harbor Remembrance
Christmas Day (Closed)
New Years Eve
New Years (Closed)
October is Breast Cancer
Awareness Month!
We are proud to be a part of this
wonderful cause! All throughout
the month of October, we will be
giving away breast cancer
awareness souvenirs. Come into
any of our locations to become a
part of the movement.
For more information on the
movement and how you can help,
visit www.nbcam.org
You are out car shopping and see a banner for 0% interest. It may
seem counterintuitive, but sometimes, taking that 0% loan is actually
MORE expensive than paying your credit union a little interest. I bet
you are thinking, “How?” Well, let me explain.
Often, you can qualify for a rebate if you don’t take the 0% rate offer.
Sometimes, if you take that rebate and get a low rate loan through
Encentus, you actually pay less through the life of the loan than you
would have if you took the 0% offer.
Other times, the dealership talks you into that extended warranty and
GAP coverage. While these insurance products are certainly beneficial, did you know that we offer the same or similar products for as
much as $2,500 less than the dealership? That’s because we aren’t
concerned about making a big commission off of the sale. We may
make $50 on selling you an insurance product like GAP just to cover
the cost and time of processing. The dealer could be making $1,000
on that same policy. At Encentus, we believe that $950 belongs to
you!
If you are still getting a rebate when financing at the dealership, were
you told that rebate will be cancelled if you refinance at your credit
union or otherwise pay off the loan within 3 or maybe even 6 months?
While it is true the rebate will be cancelled, they won’t come looking
to you to pay it back. No, that bill goes to the dealership to pay. So if
you want to move your loan to your credit union to take advantage of
payroll deduction or our various skip-a-payment programs, then just
do it! The dealer won’t be happy, but you’ll at least know who you are
doing business with!
Stop by our office for a pre-approval if you have plans to go car shopping. At the very least, you can use that preapproval as a negotiating
tool. If the dealership offers you that 0% loan, step outside the finance guy’s office and give us a call. We’ll run the numbers and tell
you which is the better deal. And, yes, sometimes the better deal is
with the dealership. We don’t mind telling you that. Our paycheck
isn’t hanging on whether or not we make you this loan. You’re our
member, our family, and ultimately, our boss. We’ll tell you the REAL
bottom line. And don’t forget, if you were offered a rate slightly lower
than ours or a term slightly longer that results in lower payments, tell
us. We can match some of these offers. And in the end, wouldn’t
you rather be dealing with us then XYZ Finance 1,000 miles away?
The Holiday Season is Approaching….
Make holiday saving a year round commitment! Set up a Christmas
Club account, just for holiday savings. Have a set amount of money
direct deposited into this account from every pay check. Or when
you pay bills every month, send a check to this account as if you
were paying another bill.
With a little planning and some discipline, the holidays can truly be a
relaxing time to enjoy family, friends and responsible gift-giving.
We hope everyone has a wonderful holiday season!
Rate Check (as of 09/30/2013)
Loan Rates as low as:
New Auto .............................................................. 2.75% APR
Used Auto…………………………………… .......... 2.75% APR
New Recreational Vehicle………………… ........... 5.00% APR
Used Recreational Vehicle……………….. ........... 6.00% APR
Personal .................................................................8.75% APR
Mastercard (after low 6 month intro rate) .............10.90% APR
Share Secured...................................................... 3.50% APR
Household Goods ................................................. 7.50% APR
Home Equity LOC................................................. 4.00% APR
Personal Line of Credit .........................................10.00% APR
Enstant (payday) Loans .......................................28.00% APR
Anticipated Dividend Rates for highest tier:
Regular Shares.......................... 0.70% APR / 0.70% APY
Club Accounts ........................... 0.45% APR / 0.45% APY
IRA Savings ............................... .1.55% APR / 1.56% APY
IRA & Share Certificates:
3 month ...................................... 0.65% APR / 0.65% APY
6 month ...................................... 0.75% APR / 0.75% APY
12 month .................................... 0.85% APR / 0.85% APY
18 month .................................... 0.95% APR / 0.95% APY
24 month .................................... 1.05% APR / 1.06% APY
30 month .................................... 1.15% APR / 1.16% APY
36 month .................................... 1.25% APR / 1.26% APY
Fast Facts (as of 06/30/2013)
Loans………….…………..$14,251,214
Shares……….…………….$24,990,652
Assets……….…………….$28,536,679
YTD Net Income……………$ (40,742)
Members…………….....…………4,862
Net Worth Ratio…… …………11.45%