Febr uar y 2009
MPCU – Safe & Sound
In these turbulent financial times you can take comfort in the safety and
soundness of MPCU. There are many reasons for our strong financial
position.
We have a high quality portfolio of member loans. We make no
commercial loans. We made no “interest only” or subprime loans to our
members. You know that we would NEVER put you in such products! We
exist to serve you; not to prey upon you with products which could cause you
harm. As a not-for-profit, financial cooperative we exist to improve the lives of
your family and children.
We have a safe, conservative investment portfolio comprised of insured
Deposits and Certificates of Deposit. We do not invest in mortgage backed
securities. We invest in you – our members – by making loans to finance
homes and cars. We make no tricked up loans and own no fancy dangerous
securities.
Our membership, though dealing with this difficult economy has been
stable. This means our loan delinquencies and loan losses remain well
below the national averages. Virtually all of our loans are secured by assets
located in and around Kershaw County.
We have scores of folks (Auditors, CPA’s and State and Federal
Regulators) looking over our shoulder making sure that we remain secure.
We ended the year with high quality loan and investment portfolios. We
have more than $16 million in capital that translates into a net worth ratio that
exceeds 17%. This is two and a half times the level required by the National
Credit Union Administration and 50% higher than the national average for
credit unions. We have money to lend to those members who need and
qualify for our loan products.
Member deposits up to $250,000 are guaranteed by the full faith and
credit of the government through the credit union capitalized National Credit
Union Share Insurance Fund (NCUSIF) and administered by the federal
regulator the National Credit Union Administration (NCUA).
MPCU remains on solid financial footing. Your Credit Union remains safe
and sound and stands ready to help you in these troubled times. Thank you
for your support and for your contribution to the success of your Credit Union.
MPCU Scholarship Program
For the fourth consecutive year, MPCU will be awarding six $500
scholarships to deserving student members of the Credit Union. To be
eligible for the scholarship a student must be a member of MPCU, graduating
in May and carry at least a 3.0 GPA. Applications for the scholarships may
be obtained from the MPCU website, the Guidance office at each High
School and at any of our offices. Applicants will be required to submit an
essay on The Importance of a Good Financial Credit History.
The deadline for submitting the application is March 20, 2009.
Board of Directors
Greg Nettles, Chairman
Curtis Branham, Vice Chairman
JoAnn Hanks, Secretary
Cheryl Colvin, Treasurer
Ricky Gause
Ken Knight
Pete Demeter
Joe Tilmont
Credit Committee
Cecil Truesdale, Secretary
Johnny Faulkenberry
Westley Williams
Supervisory Committee
Roger Fortner, Chairperson
Jerry Stokes
Myron McCaskill
Contact Information
Post Office Box 549
Lugoff, South Carolina 29078
Phone: (803)432-8521
Toll Free: 1-800-433-5226
Audio Response:
(803)432-7048
Toll-Free 1-800-464-3924
Lobby Hours
Monday-Thursday
8:00am-5:00pm
Friday
Drive Thru open until 6:00pm
Fax - Camden
1-803-424-8343
Fax - Lugoff
1-803-425-1936
Web Address
www.mpcredit.com
To Report a Lost or Stolen
ATM or Debit Card
1-800-523-4175
MPCU Mortgage Loans
Fixed Rate Mortgage Loans for less than
5%? It’s true!
Can you believe it? Though mortgage rates are changing daily
(sometimes by the hour) they have on several occasions dropped
below 5%! This doesn’t happen very often. Contact MPCU’s
mortgage department to find out how you can take advantage of these
historically low interest rates. Simply call 803.432.5299 and ask to
speak with John Abbott or Wanda Davis.
3.5% HOME Equity Loan Special
Due to popular demand we are bringing back our Home Equity Loan
special. The special allows qualified borrowers to open a new Home
Equity Line of Credit at a low 3.5% rate for the first twelve months that
the Credit Line is open. Thereafter, rates will typically adjust according
to the Prime Interest Rate.
AUTO Loans: The time is right!
Is this really a good time to buy a car? Absolutely!
The dealers are ready to bargain, and there are a lot
of great incentives available.
To get your best deal, be sure to turn to MPCU for
your financing. With rates as low as 4.75% we can
pre-approve a loan for you so you can shop as a
cash buyer. Visit our website www.mpcredit.com,
call one of our loan officers or stop by any branch to
apply.
Mortgage Loans Now Available!
Call 803.432.5299 for more information
MPCU is Going
GREEN and
Enhancing
Member Security
@ the
Same Time!
MPCU is going green and you
can help by signing up for our free
e-statement program. This
program, by reducing the volume of
paper statements contributes to
saving the planet. E-statements
also provide a quicker and more
secure method for the delivery of
your statement. Security is
enhanced since your statement will
no longer remain in your mail or PO
box until you have the time to
retrieve them. In addition, the
readily viewable E-statement will be
stored online, password protected
for at least 12 months meaning you
no longer have to store them in a
file within your home.
As an incentive, anyone who
signs up for e-statements will be
entered into a monthly drawing of
$100.00 (from April through
September)! Note: a special
drawing will be held on April 1 for
those who have already gone
green and secured their account
information online.
There are lots of reasons to
switch, so why not give Estatements a try? Need help? Call
any MSR and we’ll walk you
through the sign-up process.
Relay for Life
2009 MPCU
HOLIDAY
SCHEDULE
February 17
May 25
September 7
October 12
November 11
November 26
December 25
Once again MPCU will be a major sponsor for the Kershaw County Relay
for Life effort. This year’s relay is scheduled for May. Stop by our offices
to make a contribution or to participate in one of our fundraising efforts.
For additional information about the Relay and the American Cancer
Society click on the American Cancer Society Link found on our
webpage.
President’s Day
Memorial Day
Labor Day
Columbus Day
Veteran’s Day
Thanksgiving Day
Christmas Day
Please note, for the safety of our
employees, during inclement
weather our offices typically follow
the closing schedule followed by
the Kershaw County School District
and county offices.
MPCU POLICY CHANGES & Reminders
A. Bill Payment Service
Effective July 1, 2009, MPCU will assess a fee of $3.95 per month for those
who use our Bill payment service.
B. Bad Address Fee
Effective July 1, 2009, MPCU will assess a fee of $10 per month on member
accounts whose mail is returned to MPCU due to insufficient or bad address
information.
C. Denial of Services Reminder
Per the MPCU bylaws, anyone who causes a loss to MPCU will be denied
the use of any and all credit union services.
D. Dormant Account Reminder
Per state law, MPCU is required to turn over to the State of South Carolina
the balance of any Share or Share Draft account that has been Dormant for
five years. A dormant account is one that has had no deposit or withdrawal
activity (excluding dividends). Note: MPCU charges a fee of $5 per month
for any account that has been dormant for more than 12 months.
Surcharge Free ATM Locations
LOOK FOR CO-OP LOGO
WHEN TRAVELING
MPCU is a member of the nationwide Co-op ATM Network. The Co-op
network is a surcharge free ATM network available 24 hours a day 7 days a
week. To find a Co-op network machine simply go to the MPCU website and
click on the Co-op Network logo found at the bottom of page 1.
Give
Blood,
Give
Life
We encourage all MPCU
members to give blood. For a
list of days when the Red Cross
Blood Mobile will be in your
area go to www.givelife.org.
Invista Blood Mobile Dates:
March 10, 2009
June 2, 2009
September 1, 2009
December 1, 2009
MPCU
Post Office Box 549
Lugoff, South Carolina 29078
PRSRT STD
US Postage
PAID
Columbia,SC
Permit #519
MISSION STATEMENT
Our mission is to deliver a quality financial service
experience for each member of MPCU.
ANNUAL MEETING NOTICE
Mark your calendars for Tuesday March 17 (@ 7:00) for the 2009 Annual Meeting.
This will be our 48th Annual Meeting. The meeting will be held in the auditorium at
Lugoff-Elgin High School. Come join us for food, fun, fellowship and prizes! Food will
be served from 5:30 until 6:45. Anyone interested in running for the Board of
Directors or Supervisory Committee should stop by any of our offices to complete the
appropriate paperwork.