The Register - September 2007

Updates to the Touch-Tone Teller

As a SELCCU member, your account information is at your fingertips. Thanks to your feedback, we’ve streamlined the prompts for our Touch-Tone Teller. Please listen closely to the menu the next time you call 440-324-2445 (local) or 800-850-4539 (nationwide). Go to www.selccu.org to obtain a complete guide to all the Touch-Tone Teller prompts. You may also request a guide for all of SELCCU’s remote access services from our Member Services department.

Your $$ is Safe at SELCCU

A prevailing myth about credit unions is that deposits are not federally insured like they are at banks. Not true! The National Credit Union Administration (NCUA) is the federal agency that insures savings at credit unions across the country. Just as banks are insured through the Federal Deposit Insurance Corporation (FDIC), credit unions are insured through the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the United States government.

Federally insured credit unions are insured up to the Standard Maximum Share Insurance Amount (SMSIA), which is $100,000 for your individual share account(s). Recent legislation has increased the insurance coverage on certain retirement accounts, such as IRAs and Keoghs, up to $250,000.

At SELCCU, we go one step further in protecting your hard-earned dollars. We provide up to an additional $250,000 of savings protection to each qualified account through Excess Share Insurance (ESI), a subsidiary of American Share Insurance (ASI), the nation's largest private deposit insurer of credit unions.

Members Provide School Shoes for Children in Need

Thanks to your generosity, SELCCU collected more than $500 for the Salvation Army School Shoe Voucher Program. Through our Care Connection program, SELCCU assists local social service agencies through donations of food, clothing and other items. As part of the credit union’s People Helping People philosophy, we encourage our members to get involved as well. Thank you again for your support!

Credit Report Seminar - Thursday, Sept. 20

Most people know financial institutions use credit reports and credit scoring to evaluate loan applications. You may not realize a bad credit report or a low credit score may affect your ability to obtain a favorable insurance policy, rent an apartment, or even be considered for a better job.

All members are invited to join SELCCU for a credit report seminar on Thursday, Sept. 20, 6-7 p.m. A representative from TransUnion will present information about credit reports, how credit reports are used, the consequences of a low credit score or negative credit report and how to protect your credit rating. R.S.V.P. by contacting our Call Center at 440-324-3400 or 800-451-6315.

International Credit Union Day

In celebration of International Credit Union Day, SELCCU invites you to our Member Appreciation Days:

Friday, Oct. 19 Enjoy hot dogs, popcorn and lemonade from 11 a.m. – 2 p.m. Saturday, Oct. 20 Start your morning with doughnuts and apple cider from 9 a.m. to 12:30 p.m. The week of Oct. 15-20, enter to win one of several gift baskets. Winner will be drawn at random on Saturday, Oct. 20 at noon. Members do not need to be present to win.

Share Certificates

Is the maturity date on your share certificate approaching soon? Ask us about our rates on certificates with terms of six, 12, 18, 24, or 30 months. Balances more than $25,000 earn higher dividend rates. Our Prime Advantage members receive a 1/4% higher dividend rate on share certificates with terms of one year and longer. Call, stop in or log on to www.selccu.org.

Young Children and Money

You can help your child understand the importance of saving and managing money by setting a good example. Let them know that you use coupons at the grocery store, bring your lunch to work or carpool as ways of managing your finances. Discuss how to save money to buy something instead of borrowing or using credit cards. Include the whole family in major decisions, such as where to go on vacation or which new TV to buy.

Make sure your children have their own savings accounts to deposit allowance or birthday money. Allow them to see their statements and watch their money grow. If you do not have an account for your child, please stop by Member Services and ask about SELCCU’s Captain Cash Club.

Holiday Closings

Monday
October 8th
Columbus Day