Vol. 31, No. 1
Quarterly Publication for Members of the Cooperative Extension Service Federal Credit Union
January 2017
Holiday Closing
Dr. Martin Luther
King, Jr. Day
January 16, 2017
You Can Now
Win $25.00
Look for your hidden account
number to win a $25.00 deposit.
There are two account numbers in
the text of each CESFCU Update.
If you find your hidden account
number, call us by January 31 to
claim your deposit. There was one
lucky winner last quarter.
The year 2017 is finally here. We want to begin the New Year with a heartfelt
“thank you” to members of the Cooperative Extension Service Federal Credit
Union for using the services we have to offer. Using these services not only helps
make your life financially better but, in many instances, helps other credit union
members as well. Your deposits, for example, form the pool of money from which
we lend to other members. The interest you pay on loans allows us to pay dividends
to other members and to support the services we provide.
We are a “not-for-profit” organization. The credit union’s money, your money,
stays in the family helping other members and helping to keep loan rates lower and
deposit rates higher. *5552* Our volunteers are also deserving of our appreciation.
In these busy times, it takes quite an effort to serve on a committee or a board. They
help ensure that the credit union operates in the best interest of all its members.
From your credit union staff, thanks again and HAPPY NEW YEAR.
Mission Statement
Cooperative Extension Service Federal
Credit Union is a member-owned financial institution, dedicated to providing its
members with courteous, efficient and
professional financial services while
maintaining the highest ethical standards.
Before shopping for a new
or used vehicle, contact
the Credit Union about our
loan specials.
FOURTH QUARTER DIVIDEND
The board of directors has declared
a dividend of .25 percent with an
APY of .25 percent on the average
balance of shares for the fourth
quarter of 2016.
STATISTICS
As of November 30, 2016
Assets ..........................$5,282,277.99
Loans ...........................$3,046,680.22
Shares..........................$3,987,922.91
Members ....................................1,302
REMINDER: Due to regulations, there is a limit of only six electronic withdrawals from your
share/savings account per month. If you have any questions, please contact our office.
Apply for a CESFCU
Visa® Card Today!
Visa® Gold
Carrying a balance can be costly,
but it doesn’t have to be. With
Visa® Gold, you can enjoy low
rates, simplicity and ease of mind.
•
•
Rates starting at 8.5% APR!
No Annual Fee!
It brings you freedom. It costs you
next to nothing. Is this in your
wallet? Make your credit card
work harder for you!!
Call the credit union today for an
application – 501-671-2038 or
501-671-2037.
Fee Schedule
Rebate Versus 0% Financing Auto Buying
WOW! 0% financing sounds like the best option. WRONG! For a 0% APR*, you
have to waive the rebate.
Amount
Financed
$25,000.00
Term
60 months
APR*
Charge
0%
Finance
Charge
0
Payment
$416.67
Total
Payments
$25,000.00
Example based on 0% APR.
Amount
Financed
Term
APR*
Charge
Finance
Charge
Payment
Total
Payments
$23,000.00
60 months
2.95%
$1,768.05
$412.81
$24,768.05
Example based on $2,000 rebate.
*APR = Annual Percentage Rate. Rates may change at anytime. All applicants subject to credit
approval. Rate may vary based on credit history, term, payment method and amount financed.
Some restrictions and fees may apply. Please see credit union for full details.
CREDIT UNION FEES
Membership fee . . . . . . . . . . . . . . . .$1.00
Return check fee . . . . . . . . . . . . . . .$25.00
(Returned item written by a member on
another financial institution)
ACH return . . . . . . . . . . . . . . . . . . .$25.00
(Insufficient funds for draft through
the automated clearinghouse)
Outgoing wire . . . . . . . . . . . . . . . . .$15.00
Western Union wire . . . . . . . . . . . . .$15.00
Excessive withdrawal fee . . . . . . . . .$5.00
(Fee charged after six withdrawals
per quarter from shares)
Returned statement fee . . . . . . . . . . .$3.00
Stop payment fee . . . . . . . . . . . . . .$25.00
Loan application fee . . . . . . . . . . . . . .$25.00
Keeping Your Resolutions for the New Year
It’s the time of the year when
people reflect over the past year and
make new commitments and resolutions for the upcoming one. Saving
more money and paying down debt
tend to be at the top of people’s lists of
New Year’s resolutions. Here are some
ways for you to make good on your
resolutions and achieve your financial
goals.
• Set easier goals. The Association
for Consumer Research reports
that people who set an easy goal
for themselves are much more
likely to achieve the goal than
those who set challenging goals or
no goals at all.
•
•
•
Create annual goals rather than
monthly ones. The Association
for Consumer Research reports
that people who had already violated their monthly savings goal
were more likely to make additional purchases than those who
hadn’t. *5529* Setting an annual
goal provides more flexibility to
judge success or failure.
Identify best practices. Find out
how others have achieved goals
similar to your own.
Create action steps. Break down
your goals into steps you will
take to reach your objective, and
include ways to respond to
obstacles you may encounter.
ADDRESS
AND
PHONES
Mailing Address: 2301 S. University
Little Rock, AR 72204
(501) 671-2037 • (501) 671-2038
FAX: (501) 671-2306
www.CESFCU.org
BOARD
OF
DIRECTORS
BeVerly Sims, President
Joe Waldrum, Vice President
Judy Riley, Secretary
Sherry Funderburg, Treasurer
Amy Heck, Member
STAFF
Kim Wiedower, Manager
Polly Greenbaum, Assistant Manager