POWERLINES
A Publication by APCO Employees Credit Union | Powering financial lives. | January 2017 | Issue 157
2.99% APCO VISA
Balance Transfer Special
Plus
Record Response to Member Survey
EMV Chip Debit Card Launch
$28,000 Raised for Children’s of Alabama
Annual Meeting Set for April 6
2.99% APCO VISA
Balance Transfer Special
Record Response to Member Survey
Gives Leaders Valuable Feedback
Transfer Your Credit Card Debt and Save Money!
A member survey conducted this year achieved the largest
member response since APCO Employees Credit Union teamed
up with CU Market Research in 2009. Such feedback gives the
Board of Directors and Management Team valuable insight into
member opinion, preferences, satisfaction and loyalty.
Is your holiday debt overstaying its welcome? Are you
overwhelmed with credit card bills? Show your holiday debt
the door by moving your high-interest credit card balance to a
lower interest rate credit card from your Credit Union.
Transfer Your Balance.
Now through March 31, you will have the opportunity to transfer your high-interest credit card debt to an APCO VISA Credit
Card. Eligible applicants will receive a special, low 2.99% APR
on all balance transfers.
The 2.99% balance transfer interest
rate is good for six months, giving you
the opportunity to pay off that debt at
a MUCH lower interest rate than your
current credit card offers. Paying off
that debt at 2.99% versus your current
interest rate could save you hundreds of
dollars in interest.
Did You Know?
We know other financial institutions make balance transfer
offers, but our balance transfer program is different and better:
•We don’t charge a balance transfer fee. Most other financial
institutions charge an average of 3%. That’s like paying a
year’s worth of interest at 3% on your balance the day you
transfer it.
•Your monthly payment for the next six months will be applied
to the balance transferred first. Many programs apply
payments to new purchases at higher interest rates first.
That costs you money.
•If you do not pay off the balance transfer within six months,
our standard 10.9% interest rate will be applied to the
remaining balance. That rate beats most financial institutions.
•Everyone gets the same balance transfer rate option.
New and Existing Accounts.
The balance transfer option is available to all eligible APCO
Employees Credit Union members. If you already have an
APCO VISA account, simply contact us to set up the balance
transfer. If you do not have an APCO VISA Credit Card,
contact us to begin the application process. Once your account
is approved, we will help you set up your balance transfer.
After the six month balance transfer promotion ends, your
APCO VISA will continue to save you money. Benefits of using
an APCO VISA include:
•10.9% APR
•No annual fee
•1% cash back reward
•A 25 day grace period
on purchases
Visit us online at www.apcocu.org/visa or give us a call to
transfer your balance today.
“In this year’s survey, members gave APCO Employees Credit
Union high marks for service, quality and value,” according
to researcher David Wilson. “Members especially liked the
continued enhancements to Online and Mobile Banking.
Overall satisfaction measured 67% of members with the highest satisfaction possible. The Net Promoter score was 72%,
indicating the active and engaged member loyalty the Board,
Management and employees strive to earn.”
Survey results also revealed
“Members gave
that a growing majority of
member households use
APCO Employees
APCO CU as the main
source for financial serCredit Union high
vices. More than 82% of
marks for service,
members say the credit
union is more convenient
quality and value.”
or about the same as other
financial institutions. Some
76% of members applaud the credit union’s performance in its
statement of organizational values. There was significant improvement in every characteristic of service quality.
CU Market Research serves client credit unions throughout
the country and is located in Chattanooga, TN and online at
creditunionsurveys.com.
EMV Chip Debit Card Launch
APCO Employees Credit Union has begun distributing
debit cards equipped with chip technology. Your new debit card
will offer an added level of security and fraud protection when
used at a chip-activated terminal.
While many merchants and ATMs have already switched to
chip-activated terminals, some are still in the process. Not to
worry – you’ll be able to use your chip card in all of them.
All eligible Credit Union members will be issued a new EMV
debit card between now and April 2017. These debit cards
will have a new card number that is different from your
existing debit card. Your new
card and PIN verification will
arrive separately. Please pay
close attention to your mail so
you don’t miss your new card.
If you have any questions,
you may contact us online at apcocu.org or visit your favorite
branch location.
CURRENT INTEREST RATES
Through December 26, 2016
$28,000 Raised for Children’s of Alabama
Thanks to your generous support, the 2016 APCO Credit Union
for Kids Charity Golf Tournament raised over $28,000 for
Children’s of Alabama!
A check was presented to Cayleigh Cummings with Children’s of
Alabama by Derrick E. Ragland, Jr., President and CEO of APCO
Employees Credit Union. The donation was the largest in the
12 years APCO Employees Credit Union has been hosting the
charity golf tournament.
The 2016 tournament was held October 10th at the Grayson Valley
Country Club in Birmingham.
APCO Employees Credit Union has worked with Children’s of
Alabama through Credit Unions for Kids for more than 20 years.
News In Brief
Important – Your December 31, 2016 statement contains all the
information necessary for you or your tax preparer to file your
2016 income tax return. Please save this important end of year
statement for your records.
Your Credit Union has over 40 branded ATMs located around the
state that are fee free to our members. Stop by and let one of our
ATMs be of service to you.
Credit Union membership is the gift that keeps on giving. Let your
family in on a good thing. Have your relatives stop by or call and
join today. We’ll treat them like family.
Don’t put off planning for retirement. We have the answers to your
questions. If you want to build something that lasts, ask about the
APCO Lifetime IRA. Call or stop by and talk with one of our IRA
experts today.
Stay connected with your Credit Union!
“LIKE” us on Facebook www.facebook.com/APCOCreditUnion
Follow us on Twitter @apcocu
Visit us online at www.apcocu.org
Deposit Accounts APY
Share Account 1.00%
Certificates
30/45/60 Days .60%
91 Days .70%
182 Days .80%
366 Days 1.16%
18 Months 1.26%
24 Months 1.36%
30 Months 1.41%
36 Months 1.51%
37 Months (step up) 1.46%
48 Months 1.71%
60 Months 1.97%
IRA Share1.51%
IRA Certificate Same rates as certificates above
with maturities from 182 days to 60 months
Christmas Club 1.00%
Checking.15%
(Average daily balance over $2,000) .50%
Loans
Share Secured 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 Car2.90%
New Boat (90% of purchase price)
Starting at 2.75%
Used Boat (90% of purchase price)
Starting at 3.75%
Visa10.90%
Real Estate
Adjustable Rate Mortgage
5/1 ARM Loan 2.70%
$425,000 is max on adjustable rate mortgage.
ARM Jumbo Loans available. Call for details.
Fixed Rate Mortgage
1st Mortgage (up to 10 years) 2.90%
1st Mortgage (up to 15 years) 3.25%
1st Mortgage (up to 30 years) 3.95%
$425,000 is maximum on fixed rate mtg.
Fixed Jumbo Loans available. Call for details.
Rates subject to change. Please call for quote.
All savings rates quoted as annual percentage rates.
A lower credit score may cause a higher loan rate.
FINANCIAL REPORT
11/30/201611/30/2015
Assets $2,750,334,142$2,601,205,343
Savings$2,448,033,362$2,317,796,383
Loans$750,579,805$734,842,946
Members71,634
71,260
LOCATIONS
Annual Meeting Set for April 6
MAIN OFFICE
750 17th Street North
Birmingham, AL 35203
(205) 226-6800
1-800-249-APCO (2726)
Chelsea
370 Chelsea Crossroads
Chelsea, AL 35043
Phone: (205) 678-8406
Clanton
1872 7th Street South
Clanton, AL 35045
Phone: (205) 280-0366
Corporate Headquarters
600 North 18th Street
Birmingham, AL 35203
(205) 257-1592
Dothan
2220 Montgomery Highway
Dothan, AL 36303
Phone: (334) 793-7226
Hoover
4725 Chace Circle
Hoover, AL 35244
Phone: (205) 823-7403
Hueytown
2901 Allison-Bonnett Drive
Birmingham, AL 35023
Phone: (205) 257-3905
Inverness
42 Inverness Center Parkway
Birmingham, AL 35242
Phone: (205) 992-5030
Jasper
706 20th Avenue East
Jasper, AL 35501
Phone: (205) 221-4238
Mobile
150 St. Joseph Street
Mobile, AL 36602
Phone: (251) 694-2383
Montgomery
244 Dexter Avenue
Montgomery, AL 36104
Phone: (334) 832-3822
Pelham
101 Huntley Parkway
Pelham, AL 35124
Phone: (205) 664-7421
Trussville
151 Main Street
Trussville, AL 35173
Phone: (205) 661-2715
Tuscaloosa
630 15th Street
Tuscaloosa, AL 35401
Phone: (205) 345-6550
West Mobile
6396 Airport Blvd
Mobile, AL 36608
Phone: (251) 434-5634
Calling all members: It’s Annual Meeting time and your chance to be in the know. You can review the
Credit Union’s progress and achievements over the past year. You’ll also be able to find out what’s
planned for the future success of the Credit Union.
Federally Insured by NCUA
Equal Housing Opportunity Lender
EQUAL HOUSING
OPPORTUNITY
LENDER
Mark your calendar now for Thursday, April 6, 2017. That is the date of your Credit Union’s 63rd
Annual Membership Meeting. The meeting will be held at the Corporate Headquarters Building of the
Alabama Power Company in Birmingham. The meeting will begin at 6:30 p.m. and will be held in the
first floor auditorium. Free, secure parking will be available for members in the parking deck. Please
enter the deck on the Sixth Avenue North side and use the second level or above.
The Nominating Committee has met and is using this newsletter to place and distribute its list of
nominees before the membership. The Committee’s nominees are:
Board of Directors (All 3 year terms)
Billy Gober – Retired from Alabama Power Company after 32 years of service. His last position was
Materials Specialist at Gorgas Steam Plant. Mr. Gober has served as an official of the Credit Union
for 30 years.
Robert B. Roy – Retired from Alabama Power Company after 30 years of service. His last position
was Industrial Account Manager. Mr. Roy has served as an official of the Credit Union for 33 years.
John Valekis – Employed by Alabama Power Company for 34 years. His current position is
Regulatory Planning Manager. Mr. Valekis has served 14 years as a Credit Union official.
Credit Committee (3 year term)
John Ohlson – Employed by Southern Company Services for 16 years. His current position is
Coal and Transportation Procurement Manager.
Supervisory Committee (3 year term)
Allison Boone – Employed by Alabama Power Company for 17 years. Her current position is
Financial Manager in Treasury Services. Ms. Boone has served 6 years as a Credit Union official.
The Nominating Committee will accept additional nominees for each vacancy on the Board of
Directors, Credit Committee, and Supervisory Committee from the membership until February 10,
2017. At that time, nominations will be closed. Any person nominated by the membership must
present a written nomination signed by at least 500 members to:
Chairman of the Nominating Committee
750 17th Street North
Birmingham, AL 35203
Everyone is invited to attend and participate in the Annual Meeting. The event is a great time for the
members to come together. You are encouraged to come and meet the people who care for your
finances behind the scenes, and learn about the Credit Union’s plans for 2017 and the coming years.
As in past years, a small gift will be given to those members in attendance and there will be a drawing
for door prizes. Your Credit Union had an excellent year in 2016 and we hope you have a chance to
attend and hear the reports. We appreciate your support of the Credit Union and we look forward to
seeing you there.
Board of Directors
John Valekis – Chairman
Wendell W. Pate – Vice Chairman
Robert B. Roy – Secretary
Mark Wilkinson – Treasurer
William M. Bass – Director
Billy Gober – Director
Melinda Lopez – Director
S. A. Marino – Director
Greg Shipp – Director
President / CEO
Derrick E. Ragland, Jr.
Supervisory Committee
Ann Wilkinson – Chairperson
Allison Boone – Member
Celia Yates – Member
HOLIDAY CLOSINGS
Martin Luther King Jr. Day, January 16, 2017
Credit Committee
Jim Moore – Chairman
Joe Shannon – Secretary
Melinda Hurd – Member
Ed Nesmith – Member
John Ohlson – Member
Vicki Page – Member
Carlton Stephens – Member