Website: www.riograndefcu.org
A publication of the
Rio Grande Federal Credit Union
★★★★★★★★★★★★★★★
Rio Grande Times
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“Make Rio Grande your Main Line for Financial Services”
STRONG, SAFE, AND SECURE
Happy New year
Each year as we enjoy the holiday season we are given the unique opportunity to appreciate
and acknowledge those who make a meaningful difference to us. With the New Year we want
to take a moment to say thank you, as there are none less deserving of gratitude than our
exceptional members. Members are at the very core of what credit unions are all about. We
exist solely for the benefit of the membership, not shareholders. We are driven to maximize
service not profits. Your use of credit union accounts, products and services is what allows us
to offer new technology and services. We are grateful for your support of Rio Grande and for
choosing us to be your financial institution. Thank You!
Thank You Volunteers
One of the unique characteristics of Rio Grande
and other credit unions is the volunteers who serve
on the Board of Directors and on the Supervisory
Committee. Without these individuals the credit
union could not function. The Board of Directors
has responsibility for directing and controlling the
affairs of the credit union and providing effective and
efficient management of the credit union’s operations. They work with management to develop a strategic
plan to guide the credit union and approve all
policies and procedures. The depth and breadth of
knowledge required to perform these duties effectively
is immense. The Supervisory Committee consists
of not less than three and no more than 5 members. They also meet monthly. The major responsibilities
of the committee include: engaging an outside CPA to
perform and annual audit and verifying the accounts
of members at least once every 2 years. You likely have
received one of these confirmations. The committee is
also responsible for reviewing the performance of the
officials and employees, and makes recommendation
to the board of directors. They additionally are
charged with auditing and improving the operations
of the credit union. During their monthly meetings
they audit or review the operational areas of the
credit union, looking for exceptions to policies and
procedures. During 2013 the following members
have served:
Board of Directors: Harold Davis, Dan Steinkirchner,
Allen Baugh, Danny Moore, Merlin Tucker, Jim
Hogge, Greg Aggeler, Jim Avery, and Tom Anderson
Supervisory Committee: Sue Brown, Nona Van
Winkle, Greg Aggeler, Harold Raff, Larry Chovancek,
Larry Schuman and Tom Anderson. Thank You for volunteering your service to Rio Grande
FCU and all members.
If you are interested in volunteering stop by the credit union and learn more.
The content of this newsletter is not intended to be legal, accounting, tax or other professional advice. While we believe the information to be reliable, professional advice
should always be obtained by members.
760 Rood Avenue, Grand Junction, CO 81501 • (970) 243-7330 • 1-800-597-7330 • Fax (970) 242-9319 | Winter 2014
Notice of 2014 Annual Meeting
Mark you calendar and plan on attending the Annual
Membership Meeting of Rio Grande Federal Credit
Union on Thursday March 20, 2014. The meeting
will be held at Two Rivers Convention Center at 159
Main Street, Grand Junction, CO. The meeting will
consist of a social time from 6:00 to 6:30 pm, a buffet
dinner and business meeting that will include the
reading of the minutes of the 2013 annual meeting,
report from directors, financial officer, supervisory
committee and the election of directors. Ticket will
be available on February 20th for $12.
The appointed nominating committee, consisting
of Harold Davis and Danny Moore has filed with
the Board the following recommendations to fill the
seats up for election. The committee did not receive
any expressions of interest from the membership
and is recommending the following incumbents to
fill the five seats: Dan Steinkirchner, Allen Baugh,
Merlin Tucker, Jim Hogge and Greg Aggeler. Their
qualifications and biographical information.
Greg Aggeler – Currently serves on the Board of
Directors and is serving in his second appointment
to the supervisory Committee. Greg is a practicing
CPA with his own practice and brings years of
business and accounting experience to his service
with the credit union. Greg has been a member or
Rio Grande since 2011.
Allen Baugh – Currently serves on the Board of
Directors as Secretary/Treasurer since his appointment
following the merger with Mt. Garfield. He was a
Board member with Mt. Garfield since 1978 and has
held every board position. He is retired from the VA
Medical Center. He is a Navy veteran and a graduate
of Mesa State College with a degree in applied science. He has been a credit union member since 1978.
Jim Hogge – Currently serves on the Board of
Directors. He previously served on the board from
2004-2007. He was an active member of Slope
Motorway Credit Union from 1978 until it’s merger
with Rio Grande in 1982. He is a native of Grand
Junction and has a degree in accounting from CSU. Dan Steinkirchner –The current VP has served
on the Board since his appointment following
the merger with Mt. Garfield. He was a Board
member with Mt. Garfield since 1995 and served
as President from 1998 to 2011. He has worked for
Excel energy for the past 30 years and is Manager,
Design for Grand Junction and Rifle areas. He has
an engineering degree from CSU and an MBA from
Mesa State College. He has been a credit union
member since 1994.
Merlin Tucker – Currently serves on the Board of
Directors since 2011 and is the membership officer. Merlin previously was on the board from 1980-2005,
during which time he served in many capacities
including President. He worked for the railroad for
30 years retiring in 1996 as a trainman. He has been
a member of the credit union since 1972.
Nominations for vacancies may also be made by
petition signed by 1% of the members with a minimum
of 20 and a maximum of 500. (Based on current
membership numbers it would require approximately
48 signatures). Each nomination by petition must also
submit a statement of qualifications and biographical
data with the petition and a signed certificate stating
that they are agreeable to nomination and will serve if
elected. Nominations by petition must be filed with
the secretary by February 7, 2014. All nominees will
be posted in all locations on February 11, 2014.
The election will be by mail ballot, which will be mailed to all members eligible to vote no later than February
18th 2014, if there are more nominees than positions to be filled.
There will be no nominations from the floor and there will not be a ballot when the number of nominees equals
the positions to be filled. Is your checking
account with
Rio Grande?
Rio Grande wants to
be your Primary
Financial Institution!
T
oday, the goal for most credit unions
is to be their member’s primary
financial institution. But in an era
of ever-increasing regulation, technology and
expectations, what exactly does that mean?
Rio Grande has come a long way in a relatively
short period of time, and while such a degree
of change can be dizzying at times, Rio Grande
has more opportunity for growth now than ever
before.
In the days before expanded field of membership,
“marketing was largely about putting up fliers in
the break room and having HR people ensure
that new employees became members. Those
days are long gone.
Rio Grande competes in a very competitive
marketplace and with some of the most
sophisticated financial service companies on
the planet. And now, increasingly, even nonfinancial services companies are getting into
things like the payments business and such. So,
the question really is, what does it take to be
relevant to the next generation of consumers,
the next generations of member?
The changes in Rio Grande have positioned us
to not only offer expanded services to members
but also to compete with banks, for all of our
members financial services. One of our greatest challenges in 2014 will be
to ensure that younger consumers and future
members know of all the products and services
we have to offer and consider Rio Grande on the
same level as banks when choosing their primary
financial institution. We are seeing significant growth in member
relationships with Rio Grande as well as
younger members, and small businesses. We
are able to fulfill the needs of these members
through genuine member focused service and
the technology they require. The expression
of this new concept of service is “Bricks and
Clicks” meaning that you have to have a physical
presence and the technology to connect to Rio
Grande wherever and whenever you want. “Can we be everything to everybody?”
realistically we cannot offer everything for
everybody. We can provide new and existing
members with checking accounts, check/debit
cards, and loans from personal to business, all
available 24/7 through free home banking and
bill pay. We believe that Rio Grande is a financial
institution that new and existing members
should consider when looking for any financial
services. Rio Grande wants to be your Primary Financial
Institution and is committed to meeting your
needs and betterment. Rio Grande IRA’S – Stable, Safe, Secure
4th Quarter Share Dividends have been declared by the Board of Directors and will be paid effective January 1, 2014.
The share rate is .15% with an annual percentage yield of .15%. REMEMBER - Kids Club accounts earn a .25%
bonus and are paid .40%.
Credit Union Share & Share Certificates & IRA Accounts
$500 to $10,000
Minimum deposit of $500.00
Term
Dividend Rate
3 mo. .15%
6 mo.
.25%
12 mo.
.35%
18 mo. .40%
24 mo. .55%
$10,001 to $100,000
Term
3 mo.
6 mo.
12 mo. 18 mo. 24 mo. 36 mo. Dividend Rate
.20%
.30%
.40%
.45%
.60%
.80%
Annual Percentage Yield (APY)
.15%
.25%
.35%
.40%
.55% Annual Percentage Yield (APY)
.20%
.30% .40%
.45%
.60%
.80%
APY calculation based on quarterly compounding. Dividends paid quarterly, early withdrawal penalties apply to all certificates.
Rates are subject to change without notice.
Please make a note that we will be closed for the following holidays:
Wednesday January 1st – New Years Day Monday January 20th – Martin Luther King, Jr. Day Monday February 17th – Presidents Day
The following New Products and Services
were introduced in 2013
New Upgraded Website • Member Alerts through Home Banking or Text
Construction Loans • Expanded Credit Cards
Home Equity Lines of Credit • Lowered Check Costs
Upgraded Home Banking Site • Quicken/QuickBooks Interface