Spring 2013

 

S P R I N G

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MARION COMMUNITY CREDIT UNION

INC.

SPECIAL POINTS OF INTEREST:

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Q U A R T E R L Y

M A R I O N 

C R E D I T

O F U N I O N ,

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Annual Meeting

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P U B L I C A T I O N

C O M M U N I T Y

Fetch Visits Kidfest

MCCU at Kidfest

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Skip-A-Pay to Continue

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Children’s

Miracle Net work

INSIDE THIS ISSUE: CU Youth

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 Week Finance U.

Annual Meet-

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ing Expanding

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Facebook Need GAP

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Insurance? E-Statements

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MCCU Rates

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One of the biggest crowds since its inception attended this year’s Kidfest on February 23rd at the th e Centre Mall.  Thousands of kids and their families visited dozens of booths where they learned about area businesses and played on giant inflatable games.  The credit union provided mini red basketballs to support OSU in their quest through “March Madness.” Mood pencils that change color depending on the warmth of the writers hand were also a  big hit this year. year. We hand-

ed out literature, our new  brochure and many many coloring  pages for youngsters youngsters to enter our Facebook coloring contest.  The biggest MCCU hit, however, was Fetch who spent several hours cavorti cavorting ng through the crowd and playing with other mascots. Fetch

 Fetch and Ronald m mug ug for tthe he camera 

was seen dancing with the  performers on the the main stage,  petting the other other animals from the Toledo Zoo and sharing the stage with Ronald McDonald McDo nald throughout the venue.  Once again Fetch delighted the kids who petted and hugged him all day long. 

Skip-a-Pay Offered Would a few extra dollars help you plan the perfect graduation party or make this year’s vacation just a little bit better?  Marion Community Credit Union offers the opportunity to “Skip A Pay” on your auto or signature loan once once a year. In order to take advantage of this program, you must have h ave had your loan for at least 12 months, all of your accounts with the credit union must be in good standing, and you cannot have had ha d any late payments (more than 10 days late) on your loan in

the last 12 months. There is a fee of $25, which will be added to your loan, for this service. Skip A Pay is not available for mortgage loans, overdraft loans, or stretch pay loans. **  If you are interested in skipping a month’s worth of payments on your auto a uto or signature loan, please contact our loan department; Becky extension 320, Christina- extension 322, or Susie -extension 321.  **Additional Restrictions May Apply 

Finance 101 Class Planned at OSUM For the second year in a row, MCCU is offering Finance 101 for area high school students. Over 125 are planning to attend this event from three high schools held at OSUM in April.  The game is very similar to the board game “Life” and teaches simply saving and spending

rules to prepare participants for life after school. Both OSUM and the Marion Senior Center are helping to put on the game which also includes a tour of the campus and an introduction to MCCU online financial education class, FoolProof, approved by Ohio for high school credit.  

 

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Finance U. Here are some common misinterpretations peo ple make make about about their credi creditt reports an and d how to clear them up. They have too many student loans listed for me...  Student loans are often listed as separate loans

for each semester of school instead of as one big loan.

MCCU Supporting Children's Miracle Network MCCU staff members are once again taking to the road in their annual march to raise money for the Children’s Miracle Network.  The state-wide goal for credit unions is $200,000 and will  benefit the Children’s Children’s Hospitals in Ohio.  Watch for Flamingo Joe, this years Marching Miles spokesbird.  To pledge go to our website for instructions or ask one of our Member Service Representatives at either branch.

I must be a victim of ID theft because someone else’s name is on my report...   Errors in information gathering commonly result in someone else’s data being mistakenly being listed on your credit report. This is just a mistake, not ID theft. You can always dispute this info off your re ports at the we website bsite of the parti particular cular ccredit redit b bureau. ureau.

Common Credit Report Misunderstandings I paid that collections account, it shouldn’t be on my report anymore...  Collections agencies aren’t required to remove a collections account from your credit reports once you have paid it if the information is still timely. All they are required to do is list that the account has been satisfied.   All these inquiries count against my score...   Keep in mind that the only inquiries that are ever factored into your credit score are ones that happened in the past year and that were for the pur pose of of you aapplyi pplying ng for cr credit, edit, financing, financing, or so some me other type of financial contract.  

For more information contact our loan office.  

Annual Meeting The Marion Community  band playing some of of the most Credit Union held its annual  popular high energy hits from meeting on Saturday, March the past five decades. Tom Veith, Chairman of the 23rd at Marion Catholic High MCCU Board, opened a brief School in the John M. Boler  business meeting. The treasu treasurrActivities Center. er’s report was given by Board Over 230 people attended treasurer Dan Dreher, Veith this year’s meeting with the theme Hooray for Hollywood.   gave the Chairman’s report and This years food was catered President/CEO Vidya Iyengar gave an encouraging report  by Special Occasions Occasions with a about the credit union and recr ecchoice of beef or chicken for ognized Elaine Evans for her 25 the entrée. The entertainment was supplied by Cherry Blonde years of service to MCCU. The nominating committee put Roba six member party rock cover

ert Columber and Dan Dreher into nomination for the positions that they were vacating. They were selected by acclamation. The oath of office was administered by Jim Depue.   Following Follow ing the business meeting the annual prize drawing was held with over 20 prizes awarded to mem bers including the the grand prize of a $200 gift card and a Wii game console for the younger members.

Credit Union Youth Week in April April

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Credit unions across the nation will cele brate our young young members throughout the the month of April. This year’s theme is Savings Sleuth and your youngster can look like a “private “priva te eye” eye” by stopping stoppin g at either branch to get a clip on Saving Sleuth mustache. Join the savings team during Credit Union Youth Week April 21-27, by teaching kids how to save for their goals. They'll have one of the most difficult aspects of saving under their belt by the time they're teens—being a

a new video game, a trip to the movies, or even a college education. Beside the mustache MCCU will give a giant replica of a $100 bill. On the other side of the bill it encourages youth to set a financial goal and save at the credit union to reach it.  Join us on Friday April 26th at either  branch to share some some refreshments and cele brate our kids. kids.  As part of our April celebration don’t forget to visit our website, www.marioncu.com,

consistent saver.  Learning to save money takes practice. By saving, you can put your money toward whatever is important to you—whether that's

click on our Children’s Miracle Network Marching Mile button and donate to help Ohio’s children’s hospitals h ospitals.. 

 

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Q U A R T E R L Y

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MCCU Facebook Presence Expands Social media is a set of tools that allow us to connect and build relationships. It is doing what traditional (mass) media like direct mail, tele phones, radio and and television used to do, but at a much higher speed and it is, unlike the tradi-

collecting products and donations for them like our ongoing financial collection for the “Children’s Miracle Network.”  We have promoted the collection of canned goods for area food pantries, donations for the

tional media, a two way street. Marion Community Credit Union can reach our members and our members can talk back to us. Everybody can contribute to the conversation, which was impossible before. Facebook has around 1 billio billion n users currently. About 58 percent of people do online research before purchasing a particular product or selecting a primary financial institution.  Building a brand has never been so im portant as today and social media is allowing MCCU to have a voice just like the “big boys.”   In the past few months the credit union has used Facebook to inform our members about  projects, services services and products that that we have and

Humane Society and the Buckeye Dance-a-thon. We have hosted contests on Faceboo Facebook k like the “Love My Pet, Love My Credit Union” photo contest of member’s pets. We developed a Fetch coloring contest with more than 55 young members aged 12 and under contributing art work for our lobbies. We have also used Facebook to promote events like our Finance 101 class which attracted over 110 senior high school students and our YMCA Corporate Challenge participation. Upcoming promotions that we will use Face book to compliment compliment include our May May 4th Shred Day, Member Appreciation day on May 24th and our participa participation tion in this year’s year’s Relay for

support. We have more than sold out our 2012 Annual Meeting and filled several boxes of outer wear for WMRN’s “Coats for Christmas.”   We have helped several charitable organizations by making our members aware that we are

Life held in June. MCCU has around 230 “Likes” on our Facebook page. Please join us by going to http://www.facebook.com/#!/ marionccu?fref=ts. Make sure that you click on the “like” button. 

Do You Need GAP Insurance Car gap insurance is one of those expenses that seem like a waste of money until you need it. 

it is considered a used car and the value of it drops significantly.  In fact, the average new n ew vehicle looses 30 percent of its

In fact, unless you have suffered the total loss of a vehicle through either collision or theft, you may be unfamiliar with car gap insurance and how much it could ultimately save you.   The moment you drive a new vehicle off the dealer lot, your auto insurance is probably inadequate to protect you financially in the case of a total loss.   That's because your regular auto insurance is designed to pay the lender the vehicle's current cash value -- not the current loan

value the first year. By year three, that loss in value will be close to 50 percent, says Philip Reed, senior consumer advice editor at Edmunds.com, an Edmunds.com,  an auto data provider.  If your vehicle cost $25,000 new, your insurer would probably pay about $18,000 for a total loss during the first year. That's a $7,000 shortfall. Depending on the amount of your down payment (or trade-in equity), you would still be responsible to your lend-

 balance. difference difference can thousandsThe of dollars. And webeall know once your new car --  owned or leased -- leaves the lot,

er for the balance of the loan.  If you have car gap insurance, your insurer pays the difference, not you.  

( information information from Russ from Russ Heap Heapss •  Bankrate.com)   Bankrate.com)

If you own your car outright or have a lot of equity in it, you don't need gap insurance. in surance. But you're a likely candidate for gap insurance if you:   

Lease a vehicle.

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Finance for 60 months or more.

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Put less than 20 percent down.

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E-statements You may elect to get your statement via email. You will get the statement quicker and more securely than by regular mail. To sign up, go to your “Online Banking” at our website, click on “Services” then cclick lick on “View Statement.” At the bottom of that page click on "E-mail Preferences." Then click on "Select Estatements."  You’ll be saving time and paper.

Roll negative equity from a  previous vehicle vehicle loan into a new vehicle loan.

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Drive more than the average 15,000 miles annually.

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Purchase a vehicle with a history of high depreciation rates. 

Marion Community Credit Union offers auto gap insurance, at extremely competitive rates and will allow you to add it at any time to cover the original loan. 

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Marion Community Credit Union is a member -owned and membergoverned financial institution. Since its formation in 1960, Marion Community Credit Union has developed into a full service, not -for-profit financial cooperative.  Our friendly and convenient services are available to anyone who

300 Barks Road East  Phone: 740/389-9960 

works or lives in Marion or Morrow Counties, is an immediate family

FAX: 740/389-9961 

member of a current member or works for any of our many Select Em-

Hours: Mon. -Thur. 8:30-5:30 Fri. 8:30-6:00  Sat. 8:30-12:30 

ployee Groups. Once you join, even if you move, change employers, or

Drive-up opens Mon.-Fri. at 7:30 Sat. at 8:30

retire, you can retain your membership with Marion Community Credit Union. 

810 Kenton Avenue  Phone: 740/382-1929  FAX: 740/382-5276  Hours: Mon.-Thur. 8:30-4:30

Fri. 8:30-5:30 

This issue of ex press is written and/or edited by: Glenn Coble, Susie Conley, Becky Layne 

Drive-up open all lobby hours  

Marion, Ohio 43302 

We’re on the web at:   www.marioncu.com  

Watch for This! 

MCCU Rates Regular Share Accounts  Balance 

$100.00-up

Certificates-minimum $1,000 

Int. Rate

APY

.120% 

.120% 

Organizational/Business Shares  Balance 

$100.00-up

Friday, April 17th  Finance 101 being held at OSUM 

Int. Rate

APY

.100% 

.100% 

Checking Accounts  Int. Rate

APY

Draft: $500 - up 

.050% 

.050% 

Business Plus: $500 - up 

.050% 

.050% 

Term 

Int. Rate

APY

12-23 Months 

.400% 

.401% 

24-35 Months

.549%  

.550% 

36-47 Months

.750%  

.752% 

48-59 Months

1.000%  

1.004% 

60+ Months

1.244%  

1.250% 

Youth Certificate-minimum $500 

Term  

12 Month Youth CD  

Int. Rate

APY 

.400% 

.401% 

Variable Money Markets 

Club Accounts-minimum $5  Int. Rate

APY

Kids’ and Teens’

.120% 

.120% 

Christmas Club

.060% 

.060% 

Travel Club

.060% 

.060% 

IRA’s-minimum $50 

Balances 

Int. Rate

APY 

$1,000 –24,999.99 (tier 1) 

.150% 

.150% 

$25,000.00 -49,999.99 (tier 2)  

.200% 

.200% 

$50,000.00 -99,999.99 (tier 3)  

.250% 

.250% 

$100,000.00 -up(tier 4) 

.300% 

.300% 

Int. Rate

APY

HSA’s 

Traditional IRA

.250%  

.250% 

Balance 

Roth IRA

.250%  

.250% 

$1000 & over  

Int. Rate

APY

.650% 

.652% 

 All rates are subject subject to change change at any time without without prior notification. notification. Contact Contact the credit union for additional information about fees and rates.  

Monday, April 21st  Start of National Credit Union Youth Week  

May Children’s Miracle Net-

work Marches in Ohio  Saturday, May 4th  MCCU Shred Day 

Friday, May 24th  Member Appreciatio Appreciation n Day starts at 11 p.m. 

Monday, May 27th  Closed for Memorial Day 

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