Newsletter Archive :
Newsletter July 2009
Loan Rates
We have some of the best rates in town. Summer is here! It is the time of year when we get the itch to buy either a new vehicle or “big toy.”
Current rates are as follows:
New Vehicles Used Vehicles
5.20% - 60 months 05-09 60 months 5.25%
5.70% - 72 month Over $25,000* 02-04 48 months 5.25%
*New vehicles 5,000 miles or less. 01 and older 36 months 6.25%
Come in or call for more information on our rates for automobiles or recreational vehicles.
Loan rates are subject to change without notice.
Dividend Declared
The dividend rate for the Second Quarter of 2009 was paid at 0.650% apr., 0.652% apy. The Board has declared a dividend of 0.250% apr, 0.252% apy for closed accounts. Dividends are paid from current income and available earnings after required transfers to reserves at the end of the dividend period.
Dividend rates are subject to change without notice.
Share Certificates
Share certificate rates have been set as follows:
6 months - 1.50%
12 months - 1.75%
18 months - 2.00%
24 months - 2.25%
A minimum deposit of $1000.00 is required to purchase a share certificate.
CD rates are subject to change without notice.
Warning!
Be careful about giving out your social security number, either on the phone or to local merchants. The fraudulent use of these numbers is also increasing. With the rise of identity theft, be sure you know to whom you are giving your SSN so you don’t have problems with the credit bureau or financial institutions.
On a positive note, your cell phone number can now follow you from service to service. Be aware of this if you are considering a change in cell service companies.
Dormant Accounts
PLEASE remember dormant accounts. Study the enclosed statement(s). Make sure your accounts are not dormant. If you have questions, please contact the Credit Union office.
Privacy Policy
GENERAL POLICY STATEMENT.
In accordance with NCUA’s Rules and Regulations, the Credit Union has implemented this Member Privacy Policy.
1. As a matter of policy the Credit Union will not allow any information of its members to be released to any entity, whether private or public, in any form.
2. The only exception to this policy will be when government or private issues arise where the information is required either by law or in the normal course of Credit Union business.
Online Reference!!
You can go online to check account and loan balances. We do not have the ability to make transactions online, but you can see for yourself just exactly where you stand. Come in to set up your account. Oh, by the way, the web site is: http://cu.orem.org.
Thanks!!
We would like to thank all of our members for their support of the Orem City Employee’s Federal Credit Union. After all, this is your credit union. You all help to make it a successful one.
IMPORTANT INFORMATION ABOUT PROCEDURES
FOROPENING A NEW ACCOUNT—
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.