outh
E X C H A N G E
University of South Alabama
Federal Credit Union
103 Hillcrest Rd.
Mobile, AL 36608
Board of Directors:
President
Polly Stokley
Vice President
Pam Henderson
Secretary
Scherita Mixon
Treasurers
Ben Tipton
Wayne Davis
Chuck Warnol
John Smith
Management and Staff:
Manager
Felicia McKee
Assistant Manager
Anita Stevenson
Bookkeeper
Barbara Roy
Loan Officers
Sandra Bolden
Kristin Blackerby
Compliance Specialist
Stacy Barnhill
Head Teller
Stephanie Lowe
Tellers
Doris Martin
Kathleen Ellis
Brenda Walker
Angela Garrick
Phone: (251) 706-0255
Fax: (251) 706-0299
Main (Campus) Lobby Hours:
Monday – Friday
8:00 a.m. till 5:00 p.m.
Drive-Up Hours:
Monday - Thursday
7:30 a.m. till 5:00 p.m.
Friday
7:30 a.m. till 5:30 p.m.
USAMC Branch Office Hours:
Monday, Wednesday, Friday
8:00 a.m. till 12:30 p.m. and
1:00 p.m. till 4:00 p.m.
SUMMER 2012 EDITION
Home Economics:
There’s Still Money
In The House
Sure home prices have
dipped. But if you’ve owned
your home for a number of
years, chances are, you’ve
earned equity in it. That means a home equity loan
from the credit union may provide you with the funds
you need for home improvements, tuition, a vehicle, or
any productive use of credit. Tapping the equity in your
home can be a tax-advantaged way to borrow money
because the interest may be tax-deductible. Check with
your tax adviser for details.
BUZZ AROUND TOWN IS USA
FCU HAS SOME GREAT
HOME EQUITY LOAN RATES.
Need money for home improvements, vacation,
or college? Look no further than your own
home. If you own your home free and clear, or
if your house is worth more than you owe in it,
A home equity loan is an ideal way to borrow for home
that means you have equity. You can use that
improvements, especially if you plan to remain in your
home. According to Remodeling Magazine’s annual
equity to obtain a loan to buy most anything
cost-versus-value survey, updating a kitchen can return
you want or need. Best of all, the interest on a
some 70 percent, while a major overhaul will recoup
home equity loan, in many cases, may be tax
about 65 percent. But not having appliances from the
Carter administration? Priceless! You could expect to
deductible, (see your tax consultant for more
recoup about 60 percent of the cost of remodeling a
information). Your credit union can set up an
bathroom, about 70 percent of the cost of adding an
open-end line of credit you can access when you
attic bedroom, but only 40 percent on the addition
of a home office or sunroom. But again, the added
need money. So what will it be? A new car?
convenience or the extra space may well be worth the
Boat? Swimming pool?
price to you.
Whatever you need, we are here to help.
Whatever your credit needs, check out the great rates and
For a limited time only, qualified members
convenient terms on a home equity loan from the credit
union.
can get as low as 3.25% APR for the first six
months on a credit union home equity loan.
Stop by or call us today at 706-0255 and let us
JULY IS “ACCOUNT INFORMATION
UPDATE” MONTH
turn those dreams into reality.
During the month of JULY, when you visit the credit
union or call, we will be verifying all your account
information. According to the USA PATRIOT
Act, section 326, all members must supply the credit
union with certain forms of current government
issued identification, a physical address, a valid tax
identification number and your date of birth.
It is the policy of the credit union to also make a
copy of your USA employee id. This month we will
be verifying all accounts that have P.O. Boxes. If you
happen to have your mail going to a P.O. Box, we must
have a physical address on your account also.
The credit union thanks you for your continued support
and hope that you continue to make us your one stop
financial shop.
Equal Opportunity Lender.
Equal Housing
LENDER
Holiday
Closings, 2012
Wednesday, July 4, 2012....................... Independence Day
Monday, September 3, 2012..............................Labor Day
Thursday, November 22, 2012................ Thanksgiving Day
Monday, December 24, 2012......................... Close at 1:00
Tuesday, December 25, 2012...................... Christmas Day
Monday, December 31, 2012......................... Close at 1:00
Tuesday, January 1, 2013............................ New Year’s Day
STATEMENT OF FINANCIAL CONDITION
As of May 31, 2012
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
7,893,401.90
22,647,929.09
89,800.32
740,634.24
278,537.79
$31,650,303.34
326,725.46
3,797,217.14
3,380,310.22
1,335,544.50
454,410.24
18,941,519.92
336,491.99
3,078,083.87
$31,650,303.34
Payroll Deduction: Easy + Smart
Some things in life are easy, but not so smart, like picking up
fast food for dinner rather than preparing a healthy meal at
home or spending the weekend on the couch instead of tackling
the “to-do” list. But signing up for payroll deduction at the
credit union is both easy and smart. When you sign up for
payroll deduction, you can add to your savings painlessly. It’s
true that what you don’t see, you won’t miss. Your savings will
steadily accumulate and before you know it, you’ll have funds
for both rainy days and sunny ones. You can also use payroll
deduction to make your loan payments, which mean you won’t
have to worry about late payments. It’s easy to get started and
smart to boot; just call the credit union to find out how.
Protect Yourself
from Fraudsters
Pay Your
Bills Online
Make paying bills less
drudgery when you
switch to online bill pay from the credit union. Once you set
up your checking account, you’ll breeze through your bills each
month in minutes. No more searching through your desk for
the checkbook. No more hunting down stamps and envelopes.
No more extra trips to the post office to avoid a late payment.
With online bill pay, everything is available in one place. With
a few clicks here and a few keystrokes there, you’re done. Online
bill pay can help you keep control of your finances, too. With
all of your bills in one place, you can easily track your spending.
Money experts agree that tracking your spending is a key step
on the road to financial fitness. To get started with this time
saving service, visit us at any branch to enroll. Or, if you have
any questions, call us today for additional information.
Joan Sluder retired
after 10 years with the
Credit Union. We wish
her all the best in her
retirement. We will
miss you, Joan!
Purse snatchers and muggers are
still at work robbing people the
old-fashioned way. But in today’s world, you need to recognize
the more subtle and sophisticated ways scam artists and identity
thieves try to steal from you. Here from the Federal Trade
Commission are three of the latest efforts to get your money:
1. “It’s your lucky day! You’ve won!” You receive a letter, e-mail,
or phone call promising lottery winnings or a valuable prize, like
a cruise. But it’s just a ploy to send money or to buy overpriced
products or services. Hold onto your money - no matter how
persuasive the scam artist.
2. “You’ve been pre-approved for an unlimited line of credit.”
Watch out for offers from telemarketers who profess no interest
in your credit history and promise you a guaranteed loan.
Anyone calling you with “easy money” is only looking to line his
own pockets.
3. “Because you pay your taxes on time, you’re eligible for a
government grant. To get it, give us your checking account
information and we will direct deposit the money.” Hogwash!
The only legitimate source of government grants can be found at
www.grants.gov.
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.