Shareholder. P.O. Box Los Angeles, CA For Everyone in the Household at:

Transcription

1 Shareholder PRESORTED FIRST CLASS MAIL U.S. POSTAGE PAID LOS ANGELES, CA PERMIT NO. 896 A PUBLICATION FOR MEMBERS OF F&A FEDERAL CREDIT UNION FALL 2015 Monterey Park Location 2625 Corporate Place Monterey Park, CA Mon. - Fri. 9:00 a.m. - 4:00 p.m. Whittier Location Hadley Street Whittier, CA Mon., Tues., Thurs., Fri. 9:00 a.m. - 5:00 p.m. Wed. 10:00 a.m. - 5:00 p.m. P.O. Box Los Angeles, CA Everyone in the Household at: Mailing Address P.O. Box Los Angeles, CA Telephone Services Center Mon., Tues., Thurs., Fri. 8:00 a.m. - 5:00 p.m. Wed. 9:00 a.m. - 5:00 p.m. Events/Holiday Observances Monday, October 12, 2015 Columbus Day Thursday, October 22, 2015 Member Appreciation Day Wednesday, November 11, 2015 Veterans Day Thursday, November 26, 2015 Thanksgiving Day Friday, November 27, 2015 Day After Thanksgiving Friday, December 25, 2015 Christmas Day Friday, January 1, 2016 New Year s Day Federally insured by NCUA Upgrade your Internet Explorer 9 or 10 Browser for the best Online Banking Experience. Because of advancing technology, Internet Explorer 9 and 10 will no longer be supported by our Online Banking platform. If you re using Internet Explorer 9 or 10, you may want to upgrade to Internet Explorer 11 to continue getting the best F&A Online Banking user experience. Be aware that Internet Explorer 11 may affect compatibility for non F&A websites. You may also want to consider using Chrome or Firefox as your browser. Upgrade now if you re an Internet Explorer 9 user and before January 1, 2016 if you use Internet Explorer 10. You will still be able to access Online Banking with an older browser after these dates, but functionality and performance may be limited. Please call us if you have questions at You can download Internet Explorer 11 free at en-us/internet-explorer/download-ie. Chrome at chrome/. Firefox at mozilla.org/en-us/firefox/new/. Internet Explorer 11

2 Shareholder Them Them Business Business Us Us Personal Personal A PUBLICATION FOR MEMBERS OF F&A FEDERAL CREDIT UNION FALL 2015 You Have Another Chance to Get a Low Fixed Rate Home Equity Loan Rate! The Federal Reserve has delayed raising interest rates. Now is the time to lock in your LOW Fixed Rate Home Equity Loan rate before rates increase! Real Estate rates are at their lowest in years, but they may be on the rise soon! If you have equity in your home, now is a great time to get an F&A Fixed Rate Home Equity Loan with a rate as low as 2.75% APR. You can save thousands of dollars by locking in your low rate at F&A now and just in time for the holidays. Also, our Fixed Rate Home Equity Loan monthly payment amount will stay the same for the life of the loan, so it may be your best opportunity to refinance any adjustable rate real estate loan you have at another financial institution. You can borrow the funds you need now and pay it back comfortably over time and the interest you pay on your loan may be tax-deductible (consult your tax advisor to learn more). Think of all the things you can do with F&A s Fixed Rate Home Equity Loan: Refinance your existing 1st, 2nd or HELOC Shorten your mortgage term Make home improvements Consolidate bills into one low payment Help pay for college education, medical expenses and so much more! Act now and you can take advantage of exceptionally low fixed rates on our longer terms, too! time to let the equity in your home work for you before rates increase. Give us a call today at or check out our rates at Rates effective as of October 1, 2015 and are subject to change. Loan rates are based on the CLTV, loan term and credit score of the primary borrower. Owner-occupied CA, AZ, NV, OR properties only. Additional CLTV restrictions apply to properties outside of California, 2nd homes and 2-4 unit properties. Rates ½% higher for 2nd homes. Maximum CLTV reduced by 5% for loans over $250,000. Upfront costs are waived or paid by the Credit Union. If you pay off your loan within the first three (3) years, you will be required to pay a cost-recovery fee of $500. Refinancing an F&A Equity/Fireline (unless moving to repayment) loan for a lower rate requires a $50,000 additional advance or a $500 fee. All rates include a 0.50% reduction for automatic payment. Other terms and conditions apply. Representative example: Make 83 payments of $656 each and a final payment of $ at 2.75% APR based on $50,000. F&A and KOFE Team up to provide you with Financial Education In addition to MoneyDesktop, our online money management tool, F&A Federal Credit Union has teamed up with KOFE to develop a user-friendly website in order to provide you with budgeting tools and the financial guidance needed to live a financially-secure lifestyle. No matter what your financial situation is, everyone, at one time or another, can use financial guidance. KOFE not only provides financial education content, they have professional Certified Financial Consultants (CFC) ready to assist if you are in a financial bind. And as certified professionals, their counselors can actually help you find ways to repay your credit card debts, through: Careful budgeting Financial education Effective money management Publications Videos Seminars/Webinars Interactive courses Counseling Take advantage of KOFE s services and live a financially-secure lifestyle. Go to click the EDU menu header and select KOFE.

3 Words From the Chairman The Federal Reserve did not raise rates as anticipated by many. The unintended economic consequences of higher market volatility resulting from global economic turmoil most likely weighed heavily on the Fed s desire to raise rates. Additionally, while the U.S. economy continues to do well and jobs continue to grow, the Fed is not near it s inflation goal of two percent. There is still a high likelihood that the Fed will raise rates in 2015, keeping it s objective of beginning to normalize interest rates this year. While mortgage rates remain low, home equity continues to grow. This may be your last opportunity to take advantage of the low rate environment with a fixed rate home equity loan. We encourage you to give us a call to explore refinance options. F&A is gearing up for the new EMV chip cards. EMV, which stands for Europay, MasterCard and VISA, are cards that have small microchips imbedded to add greater security. The new EMV VISA Cards are more secure than ever. EMV cards are new to the U.S., but not new to other parts of the world including Europe. The move to the chipped cards is a result of the many large data breaches and increases in counterfeit card fraud. F&A is migrating to this new technology to protect our members and reduce the costs of fraud. merchants and financial institutions, the switch to EMV means adding new in-store technology and internal processing systems and complying with new liability rules. members, it means activating new cards and learning new payment processes. Look for more information on how EMV works in this newsletter and online. The holidays are quickly approaching, which for most of us means shopping and travel. If you haven t applied for an F&A credit card yet, we encourage you to explore our credit card options which include low rates and rewards. We wish you and your family a happy holiday season. Richard Russell Chairman, Board of Directors Member Appreciation Day! F&A will be updating our credit cards to the new EMV (Europay, MasterCard, and VISA) chip technology within the next several months. The new EMV chip cards are safer than non-chip cards. When in use, the EMV technology adds a unique one-time transaction code to the traditional account information that is needed for the transaction to be approved. This feature cannot be duplicated in counterfeit cards and adds an additional layer of security to your transactions. easy to use. When making a purchase, insert the new chip card (chip side up) into the point of sale (POS) terminal slot (instead of swiping) and leave it inserted for the entire transaction. Follow the instructions on the screen. Once your transaction is complete and when prompted, you can remove your card from the POS terminal slot. also convenient. You can use your card for payment over the phone or online just like you always have. And, if the POS terminal is not chip enabled, you can still swipe and sign or enter your PIN as usual. safe, easy and convenient! To thank you for your continued support, we would like you to join us for lunch on Member Appreciation Day! When: Thurs., Oct. 22. Lunch Hours: 11:00 a.m., 12:00 noon or 1:00 p.m. Where: the Monterey Park branch. Registration is required for existing members by Thurs. Oct., 15. Call to RSVP. Refer an eligible non-member who joins on or before the day of the event, Oct. 22, they will also enjoy lunch, and you get entered into a special drawing for $250*. At the Whittier Branch, light refreshments will be served. No registration is required. *Member Referral Sweepstakes. Total of one (1) $250 Grand Prize winner will be drawn. Members will receive one entry for each member they refer. Maximum number of entries is five. The odds of winning may vary depending on the total number of referrals and mail in entries received. If one entry is received per member, the chance to win is 1 in 44,000. No purchase or payment is necessary to enter. You may also enter the sweepstakes by mailing your name, address, phone number and address to the sweepstakes sponsor: F&A Federal Credit Union, c/o Marketing/Member Referral Sweepstakes, PO Box 30831, Los Angeles, CA Not valid with any other promotion or offer. Sweepstakes is open to members of F&A Federal Credit Union. F&A employees, volunteers and relatives are not eligible. Sweepstakes begins 10/1/2015 and is valid through 10/22/2015. The winner will be notified by phone and prize awarded on 10/27/15. Promotion subject to change without notice.

4 Open a New Premier Rewards VISA Credit Card and Earn 5,000 Points. F&A s Premier Rewards VISA is the perfect card for everyday use, holiday purchases, to pay off other debt and earn points too! If you re looking for a low interest rate credit card for your day-to-day purchases, F&A s Premier Rewards VISA is the card for you. Along with the low interest rate, it has no annual fee, no over limit fee and no balance transfer fee! the perfect card to pay off other high-interest debt and with a variable interest rate starting as low as 8.90% APR*, you can comfortably carry a month-to-month balance from everyday purchases or holiday shopping with this card. Here are other Premier Rewards VISA benefits: Variable rate starts as low as 8.90% APR* Credit lines ranging from $5,000 up to $25, day grace period (Purchase Only) Free Overdraft Protection No-cost Fraud Protection with $0 deductible Special Online Protection through Verified by VISA Get your Premier Rewards VISA now. The holidays are right around the corner! Use your existing card this Holiday Season for a chance to win $ 50 daily**. One entry per transaction. *Rates are accurate at time of publication. All rates subject to change. Your actual rate is determined by your credit score, VISA card type and may be higher. Minimum monthly gross income of $2, is required. Other terms and conditions may apply, ask for details. The signature of a co-signer who has attained the age of 21 and has a means to repay debts incurred in connection with the account before the primary borrower has attained the age of 21 is required. Otherwise, the borrower must submit proof of their independent ability to make the required payment arising from the proposed extension of credit in connection with the account. **Member Credit Card Sweepstakes. Sweepstakes begins November 20, 2015 and ends on December 24, 2015 with a winner drawn each day. There are a total of 35 chances to win a prize of $50 cash with prizes drawn daily over 35 days. The odds of winning may vary depending on the total number of purchase transactions and mail in entries received. If a cardholder makes 10 purchase transactions in one day and 13,000 transactions and entries are received, their chances to win are 10 in 13,000. One purchase transaction with an F&A VISA credit card equals one entry. No purchase or payment is necessary to enter. You may also enter the sweepstakes by mailing your name, address, phone number and address to the sweepstakes sponsor: F&A Federal Credit Union, c/o Marketing/ Credit Card Sweepstakes, PO Box 30831, Los Angeles, CA Daily maximum one mail in entry per cardholder. Not valid with any other promotion or offer. Sweepstakes is open to F&A VISA credit card holders. F&A employees, volunteers and relatives are not eligible. The winners will be notified by phone and prize awarded within two business days of drawing with funds placed in regular share account. Promotion subject to change without notice. PREMIER Did You Know! You can activate your F&A VISA Debit or Credit Card in Online Banking. Easy! To activate in Online Banking all you have to do is: Login to Online Banking Click the All Services tab Click on Activate Your Card Click on Let s Activate My Card Type in your VISA card number and click submit You can also, activate your card by phone by calling You can block your F&A VISA Debit or Credit Card in Online Banking. If your card is misplaced, lost or stolen, block your card as soon as possible to prevent fraud. You can block your card in Online Banking even if you don t know your number. You just need to know if it is a Debit or Credit Card. To block your card, all you have to do is: Login to Online Banking Click the All Services tab Click on Block Your Card and follow the instructions Or click the red Lost Card button at the bottom of our website home page. You can manage your money with MoneyDesktop in Online Banking. MoneyDesktop is an online money management tool, integrated into Online Banking, that empowers you to take control of your finances. Budgeting, account aggregation, categorization and mobile access are just a few of the tools to guide you along your way. You can access MoneyDesktop in Online Banking. Login to Online Banking Click the All Services tab Click MoneyDesktop Although TellerTone24 will no longer be available after 12/31/15, you will still be able to access your account(s) several other ways. Online Banking, visit and click New User to enroll Mobile Banking,* download the app in the Apple App store or Google Play store, visit eservices/mobile-banking for more information Telephone Service Center, our service center representatives are available at Mon. through Fri. 8:00 a.m. to 5:00 p.m. with Wed. hours 9:00 a.m. to 5:00 p.m. *You must enroll in Online Banking in order to use Mobile Banking.

5 NOMINATION PROCEDURE F&A Federal Credit Union is seeking candidates for election to fill three positions on the Board of Directors (Board). The election will be conducted by mail during December and January. The results will be announced at the 80th Annual Meeting of the Credit Union on Saturday, March 12, Members may become candidates for election to the Board by either of two ways: 1) By completing an Application for Board of Directors form and submitting it to a specially-appointed Nominating Committee, or 2) By Petition (see Nominations by Petition section). There will be no nominations accepted from the floor during the Annual Meeting. All applications must be submitted to the Nominating Committee by December 2, 2015 for the Board of Directors and December 15, 2015 for the Supervisory Committee. Those choosing to submit petitions must sign a Statement of Affirmation declaring that they meet the qualifications for candidates. Credit Union bylaws state that the voting will be conducted entirely by mail unless there is only one candidate per open position. Every member in good standing at least 16 years old as of December 18, 2015 is eligible to vote. F&A bylaws define good standing as maintaining at least a minimum balance in a regular share account and not having caused the Credit Union a financial loss. Ballots will be sent out on or before January 15, To vote, you must fill out the ballot and return it in the provided envelope, which must be received by March 4, DUTIES AND RESPONSIBILITIES The Board of Directors establishes the operating policy of the Credit Union and employs the President/CEO to carry out that policy. The Board maintains the general direction and control of the Credit Union in accordance with the Federal Credit Union Act, the NCUA rules and regulations, and the bylaws of the Credit Union. In the absence of appropriate rules and regulations, the Board is expected to act prudently and exercise sound business practice. The Board must maintain the financial integrity of the Credit Union, ensuring there are adequate reserves for payment of dividends, expenses, and loan losses. The Board must also protect the integrity of Credit Union assets through the establishment of policies. TO OBTAIN OFFICIAL FORMS The Application for Board of Directors, Official Petition, and Statement of Affirmation may be obtained from F&A Federal Credit Union and returned by mail to: Attention: Application for Board of Directors F&A Federal Credit Union P.O. Box Los Angeles, CA

6 Candidates Sought for 2016 Board of Directors and Supervisory Committee Qualifications for Board of Directors and Supervisory Candidates Candidates for the Board of Directors must meet the following criteria: 1. Must be at least 18 years of age. 2. Must be an F&A Federal Credit Union member in good standing. (Maintains at least the minimum balance in a regular share account and has not caused a financial loss to the Credit Union.) 3. Have never been convicted of a crime involving dishonesty or breach of trust. 4. Employees of F&A Federal Credit Union are not eligible for the Board of Directors, nor may they be candidates for election to the Board. 5. Relatives of employees of F&A Federal Credit Union are not eligible for the Board of Directors, nor may they be candidates for election to the Board. (The definition of relatives for election purposes is the same as the definition regarding F&A membership.) A good credit rating is desirable because a Director will be acting on behalf of thousands of fellow members. Candidates should possess a dedication and commitment to their Credit Union and to the principles of the Credit Union movement. They must be prepared to serve a minimum of eight evening hours per month. This includes the regular Board meetings plus committee meetings. They should be prepared to attend selected educational meetings and seminars, read published materials provided by the Credit Union in order to learn the responsibilities of their positions, and keep up with the latest developments in the credit union industry. In general, candidates should plan on 200 hours per year as the minimum participation level. Board members receive no pay (by law) for their service and may be subject to additional requirements on certain types of loans. Failure to attend three regular Board meetings is sufficient cause for the Board to declare a position vacant and appoint a replacement to serve until the next annual meeting of the members. Skills that are helpful include a basic understanding of business procedures, the ability to read a financial statement, experience in management, personnel affairs and budgeting. Nominations By Petition Candidates choosing to petition to run for the Board of Directors must submit Official Petition forms signed by eligible voting members of the Credit Union to the Election Committee. Official Petition forms will be provided by the Credit Union. The total number of signatures submitted shall be at least one-half of one percent (.50%) of the total number of members eligible to vote. Petitioners must affirm in writing that they meet the qualifications for candidates. This affirmation of qualifications shall be submitted to the Election Committee prior to receiving petition forms from the Credit Union. Filing Deadline: Board of Directors - December 2, 2015 Supervisory Committee - December 15, 2015