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NEWS
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General
Manager's Message - April 2013
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The days of getting paid by check are over for most people, and so are
the days of standing in a teller line to cash your paycheck. In fact, with the following mix of services, you can virtually stay out of our credit union altogether. mm Electronic services have been a blessing to consumers. Let's start with your paycheck or retirement check. With Direct Deposit, you can have your pay or retirement check electronically sent to OFCCU. The money will already be in your account on payday, allocated to the accounts that you have designated. For example, some dollars to savings, your loan payment automatically made, perhaps some dollars to special savings accounts or a Christmas Club account, and the balance deposited into your share draft checking account. mm With your share draft account, you can pay bills or go shopping. Add an ATM/Debit card to your share draft checking account, and you can use your card anywhere MasterCard is accepted. These Point of Sale (POS) transactions will be debited from your checking account. In addition, use our ATM networks to withdraw cash from your accounts. If you are paying fees for normal use of any of these services, then you are using the wrong financial institution. Ohio's First Class Credit Union will provide the above services free of charge for "normal operation," as long as a minimum Direct Deposit or account balance is maintained and ATM withdrawals do not exceed the maximum free number of 15 per month at network ATMs. These free services could save you money. mm Going online today is now part of many peoples' lives, so it's really easy to check balances on your credit union accounts, find out what checks have or have not cleared your checking account, make loan payments, or use Bill Pay to pay specific bills - either once or regularly. Visit ofccu.org for details. mm Having our VISA card is also a good idea. It's great in an emergency or when a purchase is larger than your checking account balance. You can also use our credit card for many of your every day purchases. mm All of the services above can be a real blessing in your life when used properly, and we don't "fee you to death" with normal operation. mm Remember, life is too short to spend in a teller line trying to cash a paycheck or withdraw funds. Use the modern conveniences that our services offer and take full control of your finances. mm Thank you for being a member. We're here for you. mm Sincerely, mm Jeff Spada, General Manager, OFCCU |
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NEW
- Credit and Savings Builder Loan
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| Do
you need to rebuild your credit? mmmmmmmmmmmDo you find it impossible to save? |
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| If your answer is yes, then our new Credit and Savings builder loan is for you. | |
| • Now you can borrow up to $5,000 with no credit check. | |
| • The borrowed money will be deposited into a Share Savings Account and mplaced on hold. | |
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The length of the loan will be based on the total amount borrowed, |
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| • Interest on the loan is 8.00% APR. | |
| • This loan will help you build or rebuild credit history and savings. | |
| • At the end of the loan, the funds that were on hold are yours. | |
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Now
that's a great way to save!
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One Credit and Savings Builder Loan per Member Account. For members in
good standing. No refinancing. Loans will be processed in the order they
are received. No discounts apply. Loan does not qualify for Signature
Loan Drawings. If payroll allocations end for any reason, loan will be
paid off with funds from the Share Savings Account. APR = Annual Percentage Rate |
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Sometimes,
Life Happens!
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Car
breaks down... mmmmEmergency Room visit...
mmmmOut-of-town travel for a funeral...
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it's
always something!
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Sometimes,
life gives you unpleasant surprises that catch you short. Sometimes,
you need a hand to get past an emergency. Well - now our Life
Happens Loan is here to help you.
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Borrow up to $2,500
for 24 months at 16.00% APR* mwith No Credit Check. |
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| • Loan can be used to finance an emergency or reimburse you for an emergency mwithin the last 30 days. Must provide proof of expenditures or estimates. | ||
| • Borrow the amounts below with insurances for the following monthly payments: | ||
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$1,000
- $ 90.78 for 1 year
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$1,500
- $ 73.48 for 2 years
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$2,000
- $ 97.97 for 2 years
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$2,500
- $122.46 for 2 years
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We're
here for you when you need us!
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| * One Life Happens Loan per Member Account. For members in good standing. No refinancing. Loans will be processed in the order they are received. No discounts apply. Loan does not qualify for Signature Loan Drawings. Receipts for expenditures must become part of the loan documentation. APR = Annual Percentage Rate | ||
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OFCCU
Pays Over $550,000 In Bonus Dividends & Loan Interest Rebates
In The Last 6 Years! |
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| No
other financial institution that we know of gave their customers a Loan
Interest Rebate AND paid a Bonus Dividend of 25% on their savings account interest through 3rd quarter AND paid .50% APR on their savings accounts throughout the year AND has some of the lowest loan rates in the area. |
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Tell
everyone you know that OFCCU is where their finances belong.
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Invite
them to open an account today!
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| * Rebate applies to loan interest paid thru 4th quarter 2012 for accounts still open on 12-31-12. Members with delinquent loans had their rebates applied to their loans. Interest on OFCCU VISA Cards excluded. | |
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Planning
On Retiring In 2013?
Plan now with your personalized retirement plan. |
| Rollover that 401(k), Thrift Savings Plan, Ohio Deferred Compensation Plan or I.R.A. and receive a $100 gift card from Cedar Brook Financial.* Call Scott Huff to set up an appointment and learn more about how we can help you plan for your retirement. |
| *Certain restrictions could apply. Please call Scott Huff for an appointment at 440-683-9210 or for more information, click here. |
| Securities Offered Through Securities America, Inc., Member FINRA/SIPC. Advisory Services offered through Securities America Advisors, Inc., An SEC Registered Investment Advisor. Cedar Brook Financial Partners LLC, Ohio's First Class Credit Union and the Securities America companies are not affi liated. Not NCUA insured, No Credit Union Guarantees, May Lose Value, Working with Cedar Brook Financial Partners, Ohio's First Class Credit Union, employees, staff or affiliates does not guarantee any return or results. |
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Holiday
Closings
• Monday, May 27 for Memorial Day |
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Some
Of Our Official Checks Have Been Fraudulently Duplicated
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| If you receive an OFCCU check that does not appear to be legitimate. Please contact our office before cashing it. |
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Members
Receiving Phony, Scam Texts About Deactivated Cards
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Members
are receiving a text message that their cards have been deactivated.
THIS MESSAGE IS A SCAM. |
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OFCCU
Declares Bonus Savings Dividend
For The Sixth Consecutive Year* |
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Bonus
dividends are a great example of the Credit Union difference:
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Since you are one of the credit union's owners, you receive the shareholder
dividends. • OFCCU is financially secure, efficiently run, and fiscally responsible to serve you. • There are no huge executive bonuses - our earnings go back to you. • Our Board of Directors and Audit Committee are volunteers who serve the members without compensation or expensive perks. |
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Where
else will you receive bonus dividends on savings? Only
OFCCU!
We couldn't do this without you. Thank you for being a member & for your support. |
| * Bonus dividends apply to dividends paid thru 3rd quarter for accounts still open on 9-30-12. Bonus Share dividends apply to Regular Share Accounts and Share Certificates only. |
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Savings Rates Are Higher At OFCCU
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The Regular Savings Rate is .20% APY* for the Second Quarter. |
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Certificate Rates* as of January 1, 2013 are: |
| Six months: mm.31 APR mm.31 APY | Thirty months: n.48 APR mmn.48 APY |
| Twelve months: .42 APR mm.42 APY | Sixty Months: 1.09 APR mm1.09 APY |
| * Dividends
will be paid on the last day of each quarter for Share Accounts with a
balance of $100.00 or more. Dividends accrue daily and are posted quarterly.
No dividends are paid on Share Draft, Christmas Club, or Travel Club Accounts.
The minimum amount to earn a dividend in a share certificate; which is also the minimum required purchase amount, is $500. |
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APR
= Annual Percentage Rate mm APY = Annual
Percentage Yield
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Account
To Account Transfers Now Available
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| Account to account ( A2A ) transfers are now available at OFCCU. Now you can transfer funds electronically to and from an account at OFCCU to an account at a different financial institution with the click of your mouse. Plus, as a courtesy, OFCCU does not currently charge for outgoing nor incoming A2A transfers. | |
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Here
are some details: |
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| Here's how to get started: | |
| mmmmm• You must have Online Banking. If not, sign up here. | |
| mmmmm• Log on to Online Banking | |
| mmmmm• Click on Account Access | |
| mmmmm• Click on A2A Transfer | |
| mmmmm• Click on Manage Account | |
| mmmmm• Add New Account | |
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New
Funds Availability Act - Effective July 1, 2012 - Details
here
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We
Welcome Our Newest Members
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We
are proud to announce that the merger of Lorain Postal Employees Credit
Union in Elyria with OFCCU is now
finalized. Adding the members from this strong credit union will help us become an even stronger financial entity in the future. Please join us in welcoming them to our credit union family. |
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OFCCU
Is Now Offering First Mortgage Loans Through Our Partner CU Lending
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Click
here for details, or contact CU Lending at 216-468-0158, ext. 108.
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Choose
our partners for savings.
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Third
Pay Loan Payment Changes
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A letter was mailed to all account holders in October 2011 explaining how loan payments would be handled in the future when three pays occur in a month. Copy of letter here. |
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Important
Notice Concerning OFCCU Debit Cards
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| Some local institutions recently had some of their customers' debit card information compromised. Fortunately, only a few of our debit cards were involved and those issues have been resolved. |
| Please be aware: We take great care to protect your personal information. Feel free to contact us anytime you have concerns about your account. |
| Be
careful with your debit card: Our accounts are monitored by
a fraud department for any unusual usage patterns; however, please check your account details regularly on your statement or online. Never give out personal information, especially your PIN number. |
| For Everyday Use: For your protection against ID theft and unauthorized use, your ATM/Debit Card can only be used in the USA and Canada. |
| For Use When Travelling: To use your card in other countries, we can arrange card access in those countries while you are there, but you must contact Anita at 216-241-1088, ext. 211 at least 3 business days prior to leaving. |
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Thank
you for using our services and for being a member.
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iPhone
Shared Branching locator application available
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| A
highly-praised Shared Branching locator application is available for Apple's
iPhone. The free application can be downloaded through the "App Store" on any iPhone or iPod Touch by searching "CO-OP Financial Services" or "Find Branch." Once downloaded, members can easily search for locations and view a map of Shared Branching locations in relation to their present whereabouts. Visit the iPhone app store at the link below to download the Shared Branching application: www.apple.com/iphone/apps-for-iphone/ |
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Learn
About Your Credit Report & Credit Score
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| Your credit history is important for many reasons, so it's to your advantage to understand your credit report, credit score, and credit bureaus. The Federal Reserve Board site here provides answers to some of the most common, and most important, questions about credit. |
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You
May Lose Services If We Do Not Have Your Current Address
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It is very important that we have your current address. If you move, please make sure you let us know. If we discover that we do not have your current address, we will put a block on your ATM or Debit Card. |
| • | Since
we need your signature, you must provide the information in person, by
mail or by fax. In addition to the address, please include current home, work, and cell phone numbers. |
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Get
Your Credit Reports For FREE Annually But Be Careful
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| AnnualCreditReport.com
is the ONLY AUTHORIZED source for the free annual credit reports that
are yours by law. The Fair Credit Reporting Act guarantees you access
to your credit report for free from each of the three nationwide credit
reporting companies - Experian, Equifax, and TransUnion - every 12 months.
Other sites may tell you that your reports are free and then want to charge
you or make you buy something. Everything you need to know about your free credit reports is at http://www.ftc.gov/freereports |
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Identity
Theft Alert
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| Identity
theft occurs when someone uses your personal information, such as your
name, Social Security number, credit card number, or other identifying
information, without your permission to commit fraud or other crimes. Identity theft is a serious and growing crime. People whose identities have been stolen may spend months or years and a lot of money cleaning up the mess, clearing their good names and credit records. In addition, victims could lose job opportunities; be refused credit, education, or housing; and even be arrested for crimes they didn't commit. |
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