Powerlines
July 2014
APCO eMPLOYees CReDIT UNION
IssUe 147
APCO Rewards Checking - It All Adds U p !
Free Debit Card + Free Online Access + Free Rewards = Free Checking
Are you tired of being nickel and dimed
by your bank checking account? Why not
move your checking to the Credit Union
and discover what other members already
know: Checking the Credit Union way pays
you. Look at what the banks typically
charge. There's a monthly maintenance fee
(regardless of how many checks a month
you write); per-check fees if you go over a
certain number of checks per month; ATM
fees for withdrawing cash; and debit card
fees when you use your debit card to purchase goods and services.
Why Wait?
An APCO checking account will do
everything a regular checking account will
do but instead of costing you money each
month, it’ll actually pay you. There are no
monthly service charges, no minimum balances, and no transaction fees. We even
pay dividends on your APCO checking
account. All you pay for are your checks
and at a low price, our basic check saves
you money on every order.
Rewards For You
Not only does your Credit Union offer
the best checking bargain around, we now
give you rewards for simply swiping your
debit card. You earn points by simply using
your APCO debit card for everyday purchases. You will then receive a certificate that
will include all rewards points you have
earned in the preceding 3 month period.
You can redeem your points right away or
accrue your points and accumulate them
toward a higher point category.
Consider APCO Rewards our little
“Thank You” for being a loyal member.
You’ve already started earning points
toward great rewards. If you don’t already
have an APCO debit card, now is a great
time to get one!
Start Now
So, if you’re tired of service charges or
per check fees, maybe you should look
Your Credit Union Is Just A Call Or Click Away
Why go to the Credit Union when we
can bring the Credit Union to you? All you
need is internet access or a phone and you
can start banking online or by phone from
your own place at your own pace.
Call Center Expanded
We have expanded our call center at the
Main Office and added additional staff
members for your convenience. Our call
center has a local Birmingham number
(205-226-6800) and a toll free number
(800-249-2726) for those living outside the
Birmingham area. Give us a call!
Online Banking . . . Complete Convenience
Online banking is fast, flexible and free.
You’ll be able to check balances, check
your account activity, and transfer funds 24
hours a day, 7 days a week. And, free
Virtual StrongBox digital storage is also
available to members using our free online
banking. Call or stop by any of our offices
for a MAP application or complete the MAP
form online. Then mail it, email it, or drop it
by and we’ll get you set up.
Online Bill Pay . . . Complete Control
If you like the convenience of banking
online, you’ll like paying your bills online
too. No more stamps, no more writing bills,
and no more worrying about getting by a
mailbox. Just spend a minute or two setting up your account online, then get ready
to pay your bills with a quick click of your
mouse.
The APCO call center and APCO online
banking are the better ways to bank.
Because you’re busy living.
into an APCO checking account. Our
checking accounts feature:
No monthly service charges
No minimum balances
We pay you interest
Free debit cards
Free online banking
Overdraft Protection and Privilege
Direct Deposit Available
Credit Union checking accounts are
easy to open. You sign some papers, tell
us how many debit cards you need, and
that’s it. From then on you’ll be handling
your financial business the Credit Union
way every single day!
Call or stop by any of our offices and
open your APCO checking account today.
You’ll be glad you did.
SWIPE | EARN | REDEEM
IN ThIs IssUe:
• SHARE THE BENEFITS
• NEED A WILL?
• GET A MORTGAGE CHECK UP
Dividend News
1.00%
APY
An excellent quarterly Share
Account dividend of 1.00% APY
was declared at the June meeting
of the Board of Directors. A quarterly IRA Share Account dividend
of 1.51% APY was also declared.
Christmas Club accounts paid a
1.00% APY dividend. Please see
your statement for the actual dollar
amount of dividends added to your
account.
Share The
Benefits Of
Belonging
APCO eMPLOYees
CReDIT UNION
Main Office
750 17th street North
Birmingham, AL 35203
Monday thru Friday 8:30 a.m. to 4:30 p.m.
205/226-6800
1-800-249-APCO
www.apcocu.org
Chelsea Branch
370 Chelsea Crossroads
205/ 678-8406
Clanton Branch
1872 7th Street South
205/280-0366
Corporate hQ Branch
600 18th Street North
205/257-1592
Dothan Branch
2220 Montgomery Hwy.
334/793-7226
hoover Branch
4725 Chace Circle
205/823-7403
hueytown Branch
2901 Allison-Bonnett Drive
205/257-3905
Inverness Branch
42 Inverness Center
205/992-5030
Jasper Branch
706 20th Avenue East
205/221-4238
Mobile Branch
150 St. Joseph Street
251/694-2383
Montgomery Branch
244 Dexter Avenue
334/832-3822
Pelham Branch
301 Huntley Parkway
205/664-7421
Trussville Branch
151 Main Street
205/661-2715
Tuscaloosa Branch
630 15th Street
205/345-6550
West Mobile Branch
6396 Airport Blvd.
251/434-5634
Board of Directors
Melinda Lopez . . . . . . . . . . Chairperson
John Valekis . . . . . . . . . . Vice Chairman
Mary Linn Clark . . . . . . . . . . . Secretary
Wendell W. Pate . . . . . . . . . . . Treasurer
William M. Bass. . . . . . . . . . . . . Director
Billy Gober. . . . . . . . . . . . . . . . . Director
S.A. Marino . . . . . . . . . . . . . . . . Director
Robert B. Roy . . . . . . . . . . . . . . Director
Mark Wilkinson . . . . . . . . . . . . . Director
Credit Committee
Greg Shipp . . . . . . . . . . . . . . . Chairman
Joe Shannon . . . . . . . . . . . . . Secretary
Melinda Hurd . . . . . . . . . . . . . . Member
C. L. Little . . . . . . . . . . . . . . . . . Member
Jim Moore . . . . . . . . . . . . . . . . . Member
Ed Nesmith . . . . . . . . . . . . . . . . Member
Carlton Stephens . . . . . . . . . . . Member
supervisory Committee
Ann Wilkinson. . . . . . . . . . . Chairperson
Allison Boone . . . . . . . . . . . . . . Member
Celia Yates . . . . . . . . . . . . . . . . Member
V. Merrill Mann
President/CEO
Protecting You From Security Breaches
One of the big things in the news nowadays is the security breaches at merchants. Of
course, the poster child for security breaches
is the Target debacle at the end of last year
that affected 40-60 million people nationwide.
This breach also affected 4000 APCO members, including yours truly. And more recently,
the P. F. Chang’s restaurant chain has experienced a security breach.
Now, you may ask, “What is my Credit
Union doing to keep my information secure
and protected?” Well, we’re glad you asked.
An important protection we have in place is
our neural network system. This system monitors and analyzes every plastic card transaction you make with your APCO Visa debit and
credit card. The system looks for out of the
ordinary transactions to help prevent fraud.
But even if your information is stolen at a merchant and someone with a duplicated card is
making unauthorized purchases, your Credit
Union protects you with zero liability. You will
not have to pay for any transaction you did
not authorize.
Until recently, I had always thought of computer hackers as a couple of kids in a basement goofing around with a computer.
Unfortunately, this is no longer the profile of
computer hackers and cybersecurity thieves.
Most of them are now associated with criminal
rings or they are foreign government agents
attempting to disrupt U.S. markets.
In past years we have contracted with an
information security firm to perform an annual
review and test of the security of our information and computer systems. This has always
been a best business practice. However, with
the well documented security breaches in the
past few years, your Credit Union has ramped
up our efforts in this area. We now conduct
internal and external intrusion tests through
ACI Defense on a quarterly basis, we have
implemented a higher degree of monitoring of
our existing firewall through Dell Secure
Works, and we perform regular disaster recovery tests to make sure if something did happen
(tornado, fire, etc.) to our Main Office, we could
have our back up site up and running in a matter
of hours.
As they say, it is what it is. It is not a perfect
world and no amount of Information Technology
planning and security efforts will prevent all computer hacks. However, we do pledge that the
Credit Union will continue to make the protection
of your confidential information the highest of priorities. And, if you do have a problem, we’ve got
you covered. That’s a Credit Union guarantee.
Thank you for being an APCO member.
V. Merrill Mann, CCUE
President/CEO
Let your family in on a good thing: membership in the Credit Union. If you are a
member of the Credit Union, then your family members that are related by blood or marriage are able to join. It’s a perfect way to
teach your kids (or grandkids) the benefits of
saving regularly. Set up a “family 401K
account” for specific goals. For example,
just as an employer provides matching dollars to a 401K fund, you could match your
children’s deposits in an education account
or for a down payment on a car.
A Boon To Family Members
The full range of services available to any
member is also available to his or her family.
FAMILY MEMBERSHIP
That includes share accounts, certificates
of deposit, IRA’s, car loans, boat loans,
checking accounts, and on and on. With our
easy to use electronic services, even family
members living elsewhere can take advantage of belonging to the Credit Union. That
means brother Bill in L.A. or Grandma Ginny
in Georgia can both get in on the Credit
Union’s great rates and services.
Family Matters
Another thing we mean by family oriented
is that we consider ourselves one big family
– a family united by a common bond and
vitally interested in each other’s financial well
being. Our motto is “People Helping
People,” and because our members put their
savings in the Credit Union, we have the
funds to live up to that motto!
And it’s easy to join. Just have your family members stop by or call any of our offices
and we’ll take it from there. There is no cost
to join the Credit Union, but each person
must open a share account with a minimum
deposit of $25.
$ $ $ $
FINANCIAL
RePORT
5-31-14
Assets
5-31-13
$ 2,472,605,124 $2,399,021,346
Savings
Loans
Members
2,227,153,615
2,162,090,808
620,409,112
480,530,714
69,344
67,191
“Focus On Your Finances”
Prepare For Retirement Now
If you’re thinking about retiring within
the next five years, then it’s time to start
making certain your finances will be in
place when you’re ready.
Saving for retirement is only one piece
of the retirement planning puzzle. If you’re
within five years of retirement, you need to
also start planning for how you’ll retire – a
critical step to ensure your financial security throughout the years ahead.
The following can get you started:
• Take account of your finances
• Make informed pension decisions
• Read up on the Social Security rules
• Take stock of your investments
• Detail your retirement expenses
• Check-up on your medical insurance
• Know your retirement needs
• Always fund your 401k
• Learn all you can about your
employer’s pension fund
• Contribute to an IRA
• Find a competent advisor you trust,
and get their opinion
After all, fewer than half of all Americans
have calculated how much they need to
save for retirement. You need to know
where you stand and what steps you can
take to ensure you’re ready. Remember
most of us spend 20 years on average in
retirement. By having a plan for your retirement you will be able to reduce your stress
and worries, and that’s worth a lot.
At APCO Investment Services, we are
glad to provide help to our members in
working through this important process.
For more information on this and other
financial topics, or for a complimentary
financial consultation contact Mike
Lewallen at 205-226-6866.
Securities sold, advisory services offered through CUNA Brokerage
Services, Inc. (CBSI), member FINRA/SIPC. Not NCUA/NCUSIF/ FDIC
insured. May Lose Value, No Financial Institution Guarantee. Not a
deposit of any financial institution.
Free Notary
Services Available
Need a Notary? Real estate transactions,
financial documents, and more! From time
to time, we all have documents that need to
be notarized. Your Credit Union has certified
Notary Publics that can notarize your documents. The person whose signature is being
notarized must be present to sign the document(s) and present a valid ID. This service
is free to all members and available at most
branch locations. Just to be safe, give your
local branch a call to set up a time to have
your documents notarized.
Is This Your Will?
Have Your Will Drafted By Trimmier Law Firm
The Credit Union has made
arrangements with the attorneys at
Trimmier Law firm to provide you with
a special opportunity to have your will
made. You may be asking, “Should I
have a will?” or “Do I need a will?”
Well, here are a few reasons for having
a will:
• A will is the only way of ensuring
that your wishes regarding the disposition of your property are met.
• A will can relieve some of the burdens placed on your heirs by the
probate court.
• A will can save your estate money
since many costs associated with an
estate may be waived in the will.
• A will allows you to pick who will
oversee your estate.
Attorneys from the Trimmier Law
Firm, LLC, will be at the Main Office
on Wednesday, July 23 and Thursday,
July 24 to conduct individual interviews for wills. More dates and locations will be scheduled if there is
enough interest. There will be no cost
for the interview and you will be under
no obligation, but if a will is prepared,
a fee will be charged according to the
complexity of your situation. If you are
interested please call Caitlin Brothers
at 205.226.6896 to schedule an
appointment for your interview.
The Alabama State Bar requires the following disclosures to be
made. “No representation is made that the quality of the legal
services to be performed is greater than the quality of legal
services performed by other lawyers”
Current Interest Rates
Through June 30, 2014
Deposit Accounts
APY
share Account . . . . . . . . . . . . . 1.00%
Certificates
30/45/60 Days . . . . . . . . . . . . . .60%
91 Days . . . . . . . . . . . . . . . . . . .70%
182 Days . . . . . . . . . . . . . . . . . .80%
366 Days . . . . . . . . . . . . . . . . 1.11%
18 months . . . . . . . . . . . . . . . 1.21%
24 months . . . . . . . . . . . . . . . 1.26%
30 months . . . . . . . . . . . . . . . 1.31%
36 months . . . . . . . . . . . . . . . 1.41%
37 months (step up) . . . . . . . . . . 1.26%
48 months . . . . . . . . . . . . . . . 1.51%
60 months . . . . . . . . . . . . . . . 1.77%
IRA share . . . . . . . . . . . . . . . . . 1.51%
IRA Certificate . . . . . Same rates as certificates
above with maturities from 182 days to 60 months.
Christmas Club . . . . . . . . . . . . . 1.00%
Checking . . . . . . . . . . . . . . . . . . .15%
(Avg. daily balance over $2000) . . .50%
Loans
APR
share . . . . . . . . . . . . . . . . . . . . . 2.00%
New Car (100% of list) . . . . . . . 1.90%
Up to 60 Mo. (finance at least $10,000) . . . . . 1.90%
Up to 72 Mo. (finance at least $20,000) . . . . . 2.40%
Up to 84 Mo. (finance at least $30,000) . . . . . 3.40%
Used Car . . . . . . . . . . . . . . . . . . 2.90%
New Boat . . . . . . . . . . . . . . . . . . 2.75%
Visa . . . . . . . . . . . . . . . . . . . . . 10.90%
Real estate
Adjustable Rate Mortgage
1st Mtg. (terms to 30 yr.) . . . . 2.75%*
5/1 ARM Loan . . . . . . . . . . . . 2.45%
$425,000 is maximum on adjustable rate mtg.
ARM Jumbo Loans available. Call for details.
Fixed Rate Mortgage
1st Mtg. (up to 10 yr). . . . . . . . 2.50%
1st Mtg. (up to 15 yr.) . . . . . . . 3.25%
1st Mtg. (15 to 30 yr.) . . . . . . . 3.95%
$425,000 is maximum on fixed rate mtg.
*Rate adjusts annually.
•Rates subject to change. Please call for quote.
•All loan rates quoted as annual percentage rates.
•All savings rates quoted as annual percentage yields.
•A lower credit score may cause a higher loan rate.
Home Loans Are Available At Your Credit Union
Real estate costs are one of the largest
elements of most household budgets. As
interest rates change, home mortgage check
ups can help determine whether refinancing at
the current interest rate could save you
money. Mortgage rates are at historic lows, so
if you are in the market for one, your timing is
perfect. But whether you are financing a new
home or refinancing your current one, it’s a
major decision and one in which you should
proceed with care.
Apply Online
We are pleased to offer our online mortgage website at www.apcocu.org. Our online
mortgage center gives you the power to
research various mortgage products, search
for rate quotes, and apply for a loan 24 hours
a day, 7 days a week. You have a busy schedule and we know that it can be challenging to
get done everything you need to do during
traditional business hours. With our mortgage
website you don’t have to worry about the
time of day or even the day of the week
because we are always open — online. Your
unique user name and password enable you
to start and save your application.
• Transfer your auto, SUV or truck loan to
APCO from another lender and get a
rate as low as 2.9% APR for up to 60
months and a $100 rebate. New Car?
Get a 1.9% APR interest rate on a new
car loan for up to 60 months.
The Path To Your New Loan Is Simple
A unique application is created for you
based on your answers and personal situation. We explain the different loan types available and what you can expect during the loan
process in real-life language. Our calculators
let you try out “what if” scenarios so that you
can feel confident you have selected the best
loan product for you.
Fixed Rate Mortgages
Your Credit Union has 30 year fixed rate
mortgages with a great rate of 3.95%. You
may also want to check our 15 year fixed rate
mortgage plan that offers a rate of 3.25%.
Many people are discovering that by increasing their payment by 10% to 20% they can
get a better rate, cut their repayment period in
half, and save thousands of dollars in interest
over the traditional 30 year mortgage. The
maximum amount on a fixed rate mortgage is
$425,000.
Low Closing Costs
Not only does your Credit Union save you
money with great mortgage rates, we also
save you money with lower closing costs! The
Credit Union charges you for only direct costs
associated with the closing of your loan and
we do not mark them up. No discount points,
buy downs, or other maneuvers that take
money right out of your pocket. Typical closing costs on a mortgage loan at your Credit
Union would be half to two-thirds what other
lenders will charge. Visit our website to see
how APCO Credit Union compares with area
banks.
Adjustable Rate Mortgage Loan
The current 30 year ARM rate is 2.75%,
lower than our standard fixed rate. Your Credit
Union also offers a 5/1 ARM with a fixed rate
of 2.45% for the first five years. A 5/1 ARM
offers immediate savings with a lower initial
interest rate so it may be a good option for a
lower cost mortgage alternative.
Homeline Equity Loans
With an APCO Homeline equity loan, you
can take the equity you’ve established in your
home and turn it into a personal line of credit
up to $100,000. Once your loan is closed, you
can use money from your established line of
credit when you need it… for whatever reason
you please.
Visit Us Today
If you’d like to learn more about any of our
real estate loans, just call, visit us online, or
stop by one of our offices. No obligation. Just
your opportunity to make sure your current
mortgage makes sense and to see if we can
save you money with one of our low cost
APCO loans.
Visit us online today.
www.apcocu.org/loans/real-estate-loans/
*All rates quoted as APR and subject to change.
InstaQuote Life Insurance
Shop. Quote. Buy.
• Your Credit Union has added 17 ATMs in
Appliance Sales and Payment Centers of
the Alabama Power Company. Stop by
and let one of our new ATMs be of service to you.
• My Virtual StrongBox is an added feature
of Online Banking. My Virtual StrongBox
lets you store, protect, and keep copies
of your most important documents right
at your fingertips. Log in or sign up for
APCO Online Banking and start storing
your documents today!
• Everybody makes mistakes. Let us cover
yours! Opt-In and let us pay overdrafts on
your ATM and everyday debit card
transactions.
• Effective September 1, 2014, accounts
with a bad address on file and no activity
in a year or more will be charged an abandoned account fee of $3 per month.
Please make sure all of your account
information is up to date and correct.
Instant Issue term life insurance can be
thought of as a quick solution to your life
insurance needs. This process allows you
to get approval for term life insurance for
up to $350K in coverage within minutes of
completing an application. It allows you
to compare, shop, buy and be approved
all in the same day. Getting instant coverage allows you to be protected as soon as
possible without a medical exam instead
of having to go through a full underwriting
process and then waiting for approval.
Not unlike "traditional" term policies,
the Instant Issue term life insurance online
application process will ask you to provide
some information regarding your general
health and lifestyle: things like height,
weight, smoking habits, and existing
health conditions like cholesterol and
blood pressure. Aside from that, the application process is really about how much
coverage you need and how long of a
term you would like to secure. Visit us
online today!
www.apcocu.org
(Go To Life Insurance Quotes Under “Quicklinks”)