International Credit Union Day
The 2009 International Credit Union Day theme helped to attract almost 600 people to our Philadelphia and SPP offices. Those who attended received a free gift, soft pretzel and were eligible to win some great prizes including restaurant and retail store gift certificates. Be sure to mark your calendar for next year’s celebration on October 21, 2010.
Credit Union staff members(dressed to cheer on the Phillies)
congratulate Shelly Richards, a long time member, on her retirement.
Credit Union Staff Celebrates their Name Change
More than 600 people visited our Center City and SPP offices on October 16 to celebrate International Credit Union Day and our new name Media Members Federal Credit Union. This year's theme was "My Credit Union, It Belongs to Me". In addition to soft pretzels and other giveaways, 14 lucky members won various gift certificates to restaurants, movies and retail stores.
Be sure to mark your calendar for Thursday, October 15, 2009 to join us for next year's celebration.
Celebrate Your Credit Union Ownership
Do you know who owns Media Members Federal Credit Union? YOU DO! And that's just one of the many things that make credit unions unique.
Credit Unions are not-for-profit, democratically controlled, volunteer-run, member-owned cooperatives. They exist to serve their members. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members in the form of lower loan rates, higher interest on deposits, and lower fees.
Because they are unique in both structure and purpose, credit unions provide a viable alternative to for-profit financial institutions in 96 countries. At Media Members FCU , we take pride in our heritage as a cooperative financial service provider and our connection to 49,000 credit unions worldwide.
At credit unions, every customer is both a member and an owner. Remember, you are our most valuable asset and the reason Media Members Federal Credit Union exists.
Free Online Bill Paying Now Available
Effective September 1, 2008, free online billing is available to members who have a share draft account with us. Simply go to our website at www.mediamembers.org , click on Virtual Branch and enroll. You must be enrolled in Virtual Branch before you can sign up for Bill Pay.
If you are already enrolled in Virtual Branch, just look for the bill pay link on the left hand side when you click on to access your accounts.
Online Bill Pay is quick, efficient and easy to use. Best of all it's free!
Annual Meeting
Our Annual Membership Meeting was held on February 18 in the Conference Room at the center city location. Almost 100 members attended, one of the largest attendance records in the last ten years.
The Agenda included reports by the President/CEO, Treasurer, and the Chairpersons of the Credit and Supervisory Committees. |
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Members were given the opportunity to discuss new business and ask questions regarding the operation of their Credit Union. As has been our custom, cash prizes were awarded to 23 members who attended the meeting. Everyone also received a free gift.
Chairman of the Board, Jim Kilrain, took a few minutes to praise the credit union career of Earl Laney, the former CEO and present Treasurer as well as Jerry Etter who chaired the board of directors for the previous fifteen years and now resides as Secretary.
Directors elected for three years were: Maryanne Klein, Franni Lewis and Ken Stone. Following the meeting, the Board of Directors met and elected the following officers for 2009: Jim Kilrain, Chairman of the Board; Franni Lewis, Vice-Chairperson; Jerry Etter; Secretary; and Earl Laney, Treasurer.
We hope to see you at next year's meeting which will be held on February 17, 2010. |
Improve Your Credit Score
Follow these three easy steps, and you’ll boost your credit score in no time!
Pay Bills On Time
Late payments pull down your credit score, plus paying all those late fees can add up. Save money and help pull up your credit score all at the same time.
Pay the Maxed-Out Cards First
Points are deducted if you use more than 50% of your card’s limit. Pay your maxed-out credit cards, and your credit score will improve.
Don’t Cancel Any Credit Cards
Most of your credit score is based on how much credit you have but aren’t using. When you cancel a card, it will decrease the amount of your available credit. If you are drowning in credit card or any kind of debt, give the Credit Union a call. We are your financial partner and want to help members keep their feet on the ground.
Electronic Loans make purchasing easy!
Do you plan to purchase a PLASMA TV, LAP TOP COMPUTER,
BLACKBERRY, SATELLITE RADIO, IPOD or any other of the new electronic items now available? If so, stop by your credit union to apply for our new “Electronic Loan.” We are offering a special
low rate with up to 3 years to pay. For example, you can get $5,000 for only $37.07 a week. Call us for further information
and details.
*APR= Annual Percentage Rate. Some restrictions may apply. Stop by the branch for details.
Increased Insurance Coverage for Credit Union Members
The National Credit Union Administration has increased the insurance coverage on retirement accounts (Roth IRAs, Traditional IRAs, and KEOGH) from $100,000 to $250,000. Effective April 1st, this change makes it easier for people to keep more money at one financial institution while maintaining full coverage.
This retirement account insurance coverage is separate from insurance coverage on other accounts. For example, you may have $35,000 in a share draft account under your name, $55,000 in a share draft account with your spouse, and $100,000 in an account for a business that you own. Even though the total exceeds $100,000 you are totally covered since each type of account is in a different ownership category. In addition, your retirement accounts are protected up to the $250,000 limit and are separately insured from your other accounts.
NCUA would cover your share accounts dollar for dollar up to the insurance limit if your credit union were to fail. Your money is fully insured also if you or your family has less than $100,000 or less in your accounts at the same insured credit union. Mutual funds, stocks, bonds, life insurance policies, and annuities are NOT covered.
In the future, these insurance coverage limits could rise, but it will not occur before 2011 if at all. For more information, visit the NCUA website at http://www.ncua.gov/ShareInsurance/
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