winter 2012
Published for Members of Texas Telcom
Notes of Interest
Fan Us On Facebook
facebook.com/textelcu
★★★
Let Us Know
Before you leave for
vacation, notify us. We can
flag your account so we’ll
know if there’s suspicious
activity. Notify the post
office as well so it can hold
your mail until you return.
This way, thieves will not
clue in to an overly full
mailbox – alerting them to
an empty house. Call us
today and let us help you!
★★★
Verification Notice
Murrey & Co. P.C. is assisting
Texas Telcom Credit Union
in conducting a verification
of member accounts. Please
compare your December
2011 statement with your
records and report any
discrepancy to Murrey & Co.
P.C., P.O. Box 158, Forney,
Texas, 75126.
★★★
Holiday Closings
The credit union will be
closed in observance of the
following holidays:
Monday, January 2nd,
New Year’s Day
Monday, January 16th,
MLK, Jr. Day.
Monday, February 20th,
President’s Day.
6 Ways Credit Unions
are better than banks
As the Occupy Wall Street movement
continues, many Americans are
expressing their anti-corporate sentiments
by supporting local businesses and
boycotting all types of consumer goods
altogether. When it comes to money
matters, you might have considered the
real value of working with a corporate
bank versus a local financial institution.
Could moving your hard-earned dollars out
of the larger, Wall Street-operated banks
also be good for your wallet?
Credit unions are essentially cooperative
organizations owned by their depositors,
not stockholders. Most offer exactly the
same set of financial products as a bank,
yet only some Americans have accounts
solely at a credit union.
As a member of Texas Telcom Credit Union we’re sure you realize some of these!
However, now is a great time to remind you of all of them! It’s also a great time to
share this information with friends and family members who may be looking to
make a change!
1. Making you a top priority. Unlike corporate banks, credit unions are working in the
best interest of depositors, not stockholders. This is why most can offer much better
customer service and will go out of their way to make you, the depositor, happy.
They’re less focused on turning a profit and more focused on ensuring they’re providing
depositors with a high level of service and competitive rates. They even have a
nonprofit status so they’re exempt from many taxes.
2. Low or no minimum balance requirements. As corporate banks continue charging
high fees for dropping below a minimum balance on savings and checking products, credit
unions are doing the opposite-lowering balance requirements so that maintaining an
account is less stressful. Many only have very few rules or provisions for keeping your
account in good standing. If you’re fed up with the complex rules and requirements of
larger banks in your area, consider opening up an account at a credit union.
3. Lower fees on banking products. Shop around for a loan or a checking account and
you’ll find that credit unions usually offer lower fees on basic transactions. Whether
you’re interested in opening a primary savings account or a new checking account, your
local credit union can probably offer the best financial products and packages in town.
Most credit unions still offer truly free checking without strings attached.
4. Lower interest rates. Credit unions typically offer lower interest rates on mortgages
continued on back
continued from front
and even credit cards. When you’re looking
to make some larger investments, don’t
forget to shop the credit union for the
best rates. Many will extend the most
competitive rates for mortgages, personal
loans and credit cards. Remember that the
credit union is a nonprofit organization and
isn’t going to raise fees just to turn a profit.
They’re also less likely to tack on excess
fees for different loan products.
5. Secure funds. Just like the FDIC,
deposits at a credit union are insured up to
$250,000, per account. You don’t have to
worry about losing your money when you
set up accounts at a credit union. You’re
investing in the same level of risk as a
regular bank, but can enjoy several other
perks and services while doing so.
6. Less restrictive credit eligibility
requirements. If you’ve been denied for
a loan from a corporate bank, consider
applying for a loan through a credit union.
Many credit unions have less stringent loan
eligibility requirements and may be willing
to work with you when you have a low credit
score. They can also make exceptions for
unique circumstances, such as being selfemployed or having a bankruptcy on your
record. (Courtesy US News 11/2011)
59th Annual
Meeting
set for
February 23
The 59th Annual Meeting of Texas Telcom
Credit Union will be held on Thursday,
February 23, 2012 at the Mesquite Hampton
Inn & Suites, 1700 Rodeo Drive, Mesquite,
Texas, 75149 at 6:30 pm. Join the Board of
Directors, employees and other members
for refreshments, the Annual Meeting
program, and door prizes. The two
confirmed nominees for the Board of Director
openings are Mr. Michael Robbins and Mr.
Walter Ashwood. Both incumbents will be
installed by acclimation to a three-year term.
Certificates of Deposit Tiers
as of January 1, 2012
Minimum
Balance
6 Months*
12 Months*
24 Months*
36 Months*
60 Months*
$1,000
*0.75%
*0.75%
*0.85%
*0.95%
*1.05%
$25,000
*0.85%
*0.85%
*0.95%
*1.05%
*1.15%
$50,000
*0.95%
*0.95%
*1.05%
*1.15%
*1.25%
$75,000
∞ Negotiable
∞
∞
∞
∞
$245,000
N/A
† Negotiable
†
†
†
* Annual Percentage Yield. ∞ Jumbo-Negotiable, available 1-2 year term. † Super Jumbo-Negotiable, plus
10 basis points or best rate on the grid plus 10 basis points. I Jumbo- Institutional, available 2-3 year term,
market conditions or best rate on the grid minus 20 basis points. Must be greater than or equal to $100,000. Early
withdrawal penalty. Rates and Terms may change without notice.
Dividend Rates
as of January 1, 2012
SAVINGS ACCOUNT.... APY*
$500–$24,999.99...... 0.75%
$25,000 and up........ 1.00%
Kids Club.................. 1.00%
Christmas Club........ 1.00%
CHECKING ACCOUNT
$300–$999.99........... 0.00%
$1,000 and up.......... 0.00%
BABY BOOMER CHECKING
$5,000 and up.......... 0.25%
IRA ACCOUNT
$0.00–$4,999.99....... 1.00%
$5,000–$24,999.99... 1.00%
$25,000–$74,999.99. 1.25%
$75,000 and up........ 1.25%
*Annual Percentage Yield
Loan Rates
as of January 1, 2012
Available APRs †
NEW VEHICLES*
36 months.......................................................
%
48 months...............................................
.25
4
60 months........................................
–1
72 months.................................
5%
.7
4
USED VEHICLES
YearTerm
Available APRs
11–10..............60 months..................................
09–08..............48 months........................... 50%
.
07–05..............36 months..................
14
–
04–01..............24 months.........
0%
#
.0
5
UNSECUREDAPR
Signature up to 60 months........10.00%–18.00%
MasterCard................................................ 13.90%
MasterCard Gold....................................... 12.50%
Line of Credit................................. 9.00%-10.00%
The Quarterly Newsletter is published by
Texas Telcom Credit Union to keep our
members informed about their credit
union. The financial services offered by
TTCU may have specific terms and fees,
contact our office for more details.
BOARD OF DIRECTORS
Michael Robbins—Chairman
Jim Williams—Vice Chairman
Martin Daniel—Treasurer
W.L. Ashwood—Secretary
Robert Edmondson, Jr.
Joyce Liptak
Ed Long, Jr.
Larry Starrett
MAIN OFFICE
8818 Garland Road
Dallas, Texas 75218
Stephen J. Gibson—President
Carmen Zamora—Office Manager
Jay Mounce—Lending Manager
214-320-8818
800-492-4264
Fax 214-320-8875
Lobby Hours: 9:00 a.m.–5:00 p.m.
MONEYLINE
SECUREDAPR
Savings............................................. Div. + 2.50%
Certificate.......................................... Div. + 2.50%
24-hours a day, every day!
800-310-9398
REAL ESTATE
First Mortgage.............................. Call for Details
www.textelcu.org
NEW R.V. OR WATERCRAFT
APR
48 months......................................5.75%–12.25%
60 months......................................6.00%–12.50%
72 months......................................6.25%–12.75%
USED R.V. OR WATERCRAFT@
........................................................6.50%–14.50%
“We Do Business in Accordance With the
Federal Fair Housing Law and the
Equal Credit Opportunity Act.”
† All rates shown are Annual Percentage Rates
(APR) and reflect payroll deduction (0.25%) and
checking account (0.25%) relationship credits
where eligible.
* 100% financing including tax, title and license.
# Financing amount based on NADA Trade-In.
@
Model year determines available financing terms.
© 2012 Credit Union Resources, Inc. All rights reserved. 11-1217