OUTH
E X C H A N G E
University of South Alabama
Federal Credit Union
103 Hillcrest Road
Mobile, AL 36608
Board of Directors:
President
Chuck Warnol
Vice President
Ben Tipton
Secretary
Scherita Mixon
Treasurer
Polly Stokley
Wayne Davis
Pamela Henderson
John Smith
Management and Staff:
Manager
Betty Gorham
Assistant Manager
Felicia McKee
Bookkeeper
Ting Lowe
Loan Officer
Sandra Bolden
Marlo Martin
Head Teller
Stacy Barnhill
Tellers
Doris Martin
Joan Sluder
Stephanie Lowe
Kathleen Ellis
Brenda Walker
Phone: (251) 706-0255
Fax:
(251) 706-0299
Main (Campus) Lobby Hours:
Monday-Friday
8:00 a.m. til 5:00 p.m.
Drive-Up Hours:
Monday-Thursday
7:30 a.m. til 5:00 p.m.
Friday
7:30 a.m. til 5:30 p.m.
USAMC Branch Office Hours:
Monday, Wednesday, Friday
8:00 a.m. til 12:30 p.m. and
1:00 p.m. til 4:00 p.m.
HOLIDAY
CLOSINGS, 2010
Monday, July 5, 2010 ..........................Independence Day
Monday, September 6, 2010 ............................Labor Day
Thursday, November 25, 2010 ............Thanksgiving Day
Friday, December 24, 2010 ..................Close at 1:00 p.m.
Christmas Eve
Friday, December 31, 2010 ..................Close at 1:00 p.m.
New Year’s Eve
Summer Get-Away Loans
Whether it’s adding a
new deck or hot tub, or
simply getting away to a
nearby beach, let your
University of South
Alabama Federal Credit
Union make your “getaway” easier for you!
$1,200 for 12 months for as low as 7.9% APR!
Loans available to qualified borrowers and are subject to
existing credit policies.
Current Loan Rates
(Depending upon credit qualifications,
your rate might be as low as):
New & Used Autos
…36 months… 4.49% APR
….48 months… 4.69% APR
….60 months.... 4.99% APR
….72 months… 5.69% APR (new only)
Other Loan Rates
Unsecured Loans
..up to 36 months…as low as 10.9% APR
Get-Away Loans
..up to 48 months…as low as 7.90% APR
VISA Credit Cards
….8.9% APR/No Annual Fee
All loan rates quoted as Annual Percentage Rates and are
subject to change without notice.
Equal Opportunity Lender.
EQUAL HOUSING
LENDER
SUMMER 2010 EDITION
2010 Annual
Meeting Update
The 50th Annual Meeting of the University of South
Alabama Federal Credit Union was held March 16, 2010
with 85 members in attendance.
Your 2010 USAFCU Directors are:
Chuck Warnol, President
Ben Tipton, Vice-President
Scherita Mixon, Secretary
Polly Stokley, Treasurer
Wayne Davis, Member
Pamela Henderson, Member
John Smith, Member
See us for a
home equity loan!
Do you need some extra money to make home improvements?
Or, maybe some extra money to help finance your child’s
education, buy a new car, or
consolidate debt? A home
equity loan from your credit
union could be your answer.
A home equity loan lets you
borrow against the equity in
your home, and the interest
you pay may be tax
deductible. (Consult a tax
advisor regarding the deductibility of interest.) With our low
interest rates, a home equity loan is a good option.
Call or visit your credit union for more information.
Remember, the equity in your home is a powerful financial tool.
Payday Loans:
Quick Way to Get Deeper In Debt
Taking out a payday loan is like lying down on a comfortable
bed: easy to get into, a little harder to get out of. Payday
lenders specialize in fast, friendly service. You write out a check
for the amount you need, plus the lender’s finance charge or
fee, and sign papers agreeing to pay it back in a short time.
Typically two weeks. When the time is up the payday lender
cashes your check to pay back the loan and collect its fee. But
you will pay dearly for the convenience. If you pay a standard
fee of $15 per $100 borrowed, on a two-week loan you are
paying a 391 annual percentage rate! Another drawback is that
if you haven’t solved the money problem that put you at the
payday lender’s door the first time, you’ll likely need to
rollover the agreement, paying additional fees and sinking you
deeper into debt. If you find yourself short of cash, visit the
credit union. We’ll work with you to help you find a better
way to borrow.
STATEMENT OF FINANCIAL CONDITION
As of May 31, 2010
ASSETS:
Total Net Loans & VISAs
Net Investments
Fixed Assets
Land and Building
Other Assets
TOTAL ASSETS
Liabilities & equity:
Liabilities (Payables)
Member Deposits:
Certificates of deposit
Share Drafts (Checking)
IRAs
Christmas & Youth Clubs
Regular Shares
Equity
Regular Reserves
Undivided Earnings
TOTAL LIABILITIES & EQUITY
10,745,430.07
16,904,193.94
77,496.16
791,786.88
105,445.40
$28,624,352.45
274,956.61
5,403,788.71
2,918,626.45
1,359,661.24
438,310.23
15,130,146.31
Pay Yourself First
With Payroll Deduction
Even if you have the best intentions, it’s hard to save. Temptations to
spend are everywhere: ads on the radio and television, online, on
billboards, even special offers on the back of your cereal box. So it’s not
surprising that many of us look into an empty wallet at the end of the
month with nothing to tuck away into savings.
There is a solution. And it’s
surprisingly easy: Pay
yourself first with payroll
deduction. Instead of
hoping there will be
something left over at the
end of the month to save,
take it off the top. Even if it hurts at first, before
long you won’t notice. That’s because what you don’t see,
you don’t miss.
Before you know it you’ll be well on your way to building a safety net for
emergencies or stashing cash for your vacation or for emergencies.
It’s easy to sign up. Drop by any branch of the credit union.
336,491.99
2,762,370.91
$28,624,352.45
Preventing ID Theft
You can help protect yourself from identity theft by following these tips:
*Never, never provide personal or financial information if you did not
initiate the contact—this includes the phone, Internet, or someone at your
door.
*If you receive an email or pop-up message requesting personal or financial
information, do not reply. And, don’t click on the link in the message
either.
*Protect your password(s) the same
way—never provide it over the
phone or over the Internet unless
you initiated the contact.
*Use anti-virus software and/or
firewalls on every computer you
own. Keep your anti-virus software
up to date.
*Always review credit card and bank
account statements as soon as you
receive them to check for
unauthorized charges.
*Do not reply to any email asking
to verify your personal data. You
will find that legitimate vendors and merchants do not send such requests
via email. This includes your credit union.
*Don’t email personal or financial information. Email is not a secure
method of transmitting personal or financial information. If you initiate a
transaction and want to provide your information through an organization’s
Website, look for a lock icon on the browser’s status bar or a URL that
begins “https:” (the “s” stands for “secure”.)
*Remember, identity theft does not solely take place online. Protect your
snail mail also by placing outgoing mail in post office collection boxes or at
your local post office. Try to remove incoming mail from your mailbox as
soon as you receive it.
8.9% Annual Percentage Rate
No Annual Fees
Pick up a USAFCU VISA credit card application
at your nearest branch and start enjoying your
lower rate today!
Credit cards available to qualified borrowers; all loans subject to existing
credit policies. Credit card rate quoted as Annual Percentage Rate.
PLEASE NOTIFY US
If you have any changes in your information, please remember to notify us.
For your protection, please notify us immediately if you are moving or have
had a recent change of address.
Please remember to also let us know if you have any change in phone
numbers or email addresses.
Get yours FREE!
Check your credit report annually at:
www.annualcreditreport.com
CREDIT UNION
SERVICE CENTERS
The Member-Friendly Financial Network