Proudly Serving our Members Since 1938 P.O. Box 5577 Collegeville, MN 56321 PH: 320-363-7751 Toll Free 1-855-363-7751 Fax: 320-363-0353 www.collegevillecu.com Office Hours 7:30am-5:00pm M-F
What’s Inside Page 1
VISA Cards at CCCU Foundation Grant Intern Hired to Staff Gardening Tips Cooks Corner
Page 2
Grandma’s Corner From the President’s desk Sunset Stages at CSB Current Rates Home Equity Loan
Cooks Corner Karen’s Krazy Chicken
By Judy Shank 6 Chicken Breasts 1 Large bag of California Blend Vegetables 1 Can Cream of Chicken Soup 1 Can Cream of Mushroom Soup 1 box Stove Top Stuffing 1/2 Cup Sour Cream Put vegetables in a 9 x 13 inch greased baking pan. Lay the chicken breasts over the vegetables. Mix together the 2 soups and sour cream. Pour over the chicken and the vegetables. Prepare the stuffing according to the directions on the box. Put stuffing on the top of the other ingredients. Bake 1 hour at 350 degrees (may need to bake longer if chicken breasts are frozen).
Thank you for sharing your recipe, Judy. Have a great recipe? Submit your recipe to us. If we print it in our quarterly newsletter, we’ll add $10 to your Credit Union Account!!
COLLEGEVILLE COMMUNITY CREDIT UNION June 30, 2014
VISA Credit Cards at CCCU
You can now apply for a VISA Credit Card at the CCCU, and based on your personal credit score, take advantage of interest rates as low as 8.99%. If you currently hold a credit card from another institution, check your long term interest rate. We are confident our rates will look really good to you. Active U.S. military members can get an even better rate: 6%! Carrying a VISA card with you offers convenience, flexibility, and security, and our card offers a tremendous rewards program that includes travel, electronics & housewares, sporting goods, and clothing. Call for your Visa card application today!!
Credit Union Receives Grant
CCCU was awarded a grant for $2,100 this April from the Minnesota Credit Union Foundation, to be used for our newest venture, a nonprofit, student-run credit union branch on the campus of Saint John’s University. CCCU Board and staff have been working with SJU administration for the past year to establish a branch on the campus. We are eager to develop our student staff and board, and be ready to welcome new members to the CCCU when CSB and SJU students and faculty return this August.
SJU Intern Hired on Staff
During the past two years, SJU Management/Accounting student Justin Ostendorf has been working with CCCU learning about the aspects of running a financial institution like ours. If you have called or stopped in during this time, you may have already met Justin. We are pleased to announce that Justin has graduated from SJU this spring and will be joining us as a member of our long term staff, serving as a Loan Officer and Branch Manager for the future SJU Student Branch. Stop in and congratulate Justin! He can be reached at:
[email protected]
Gardening Tips by Melissa
In the hot summer months, water plants either early or late in the day to reduce moisture loss through evaporation. Hanging baskets & containers dry out faster than inground plants and may need watering twice each day. Use mulch to help retain moisture and keep the roots cooler. Mulch also helps suppress weeds. You can choose colorenhanced mulch for that added pop of color to your garden. Lawns need 1 to 1.5 inches of water per week, so soak it when watering, don’t sprinkle. Deadhead flowers before they seed to encourage re-blooming and growth. Continuously harvest fruits and veggies to promote growth and production. Got slugs? Bury a glass jar or smooth container in the soil leaving the rim raised 1” from the ground, and fill it halfway with beer. I’ve heard darker brews work best. Slugs love beer, but can’t swim! To fill in mid-smmer bare spots in your garden, consider adding some color with fall blooming perennials such as Flowering Kale, Mums, Sedum or Asters. Gardener Melissa Rieland is a Member Services Rep/Operations Specialist at the CCCU
Edward Smolenski Memorial Scholarship
The CCCU Board of Directors has announced a Scholarship in memory of past CCCU President Edward Smolenski, who passed away recently. The Credit Union will award two $500 scholarships to students enrolled in a post-secondary program for the 2014/2015 school year. The program is open to CCCU members and their families. To receive an application, please call the office or email
[email protected]. We will forward an application. Ed was an important part of building the Credit Union. We feel this is a good way to remember Ed and to pass his Legacy to future generations. Please submit your application by August 1, 2014.
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Collegeville Community Credit Union Quarterly Newsletter
From the President’s Office
Grandma’s Corner Being a Grandparent is the best job ever! I became a grandparent two years ago when my grandson Parker was born. Here are some ideas to show your grandchildren how much they are cherished. When your grandchildren are born, set up an e-mail address for them. Use this as a time capsule to send notes, & pictures, share stories, and recognize special days and accomplishments. Present them with this time capsule on a momentous occasion, such as their 18th birthday! You may also create a journal or scrape book in this same way, using photos and adding personal notes to them. For those Grandparents who have distance between you and your little bundles, you can purchase a recordable teddy bear at a local card store or online. It’s very simple to record your message in your voice. Every time your grandchild hugs their bear it will play the message you recorded especially for them. They can hear your voice anytime they want! Happy Grand Parenting! Grandmother Michelle Lehner is an MSR & Loan Officer
Sunset Stages at CSB The CCCU is proud to be an underwriter of this summer’s Sunset Stages at the College of Saint Benedict. Music concerts are performed outside, free to all, at the Darnall Ampitheater on the north side of the performing arts. Shows are Thursday or Friday evenings at 7:30. Bring a lawn chair or blanket and join us! Call us for the schedule or check here for the latest information: www.csbsju.edu/ fine-arts/performances/sunset-stages-2014
CURRENT INTEREST RATES SAVINGS Checking .10% Share Savings .15% Deposit Savings (Tiered Rate Based on Balance) $0-2,499 .15% $24,999-$49,999 .25% $2,500-9,999 .20% More than $50,000 .35% $10,000-$24,999 .25% IRA Savings (Traditional or ROTH) .40% Certificates of Deposit 3 Month ($500.00 minimum) .20% 6 Month 1 Year 2 Years 3 Years 4 Years
$1,000
$5,000
$10,000
.20% .35% .60% .75% .85%
.25% .40% .65% .80% .90%
.30% .45% .70% .85% .95%
(CD & Saving Rates Quoted on an A.P.R. basis, actual yield (A.P.Y) will be slightly higher). Checking rates compound monthly. All other Rates Compound Quarterly.
Greetings members. I hope everyone has weathered this cool, wet June. This quarter I want to focus on Sustainability. Sustainability is often used when discussing the environment. However, I believe this same concept can be applied to a business, especially a cooperative business like Collegeville Community Credit Union. In a cooperative business, people with a common trait join together in support of a common goal or mission. In a Credit Union, that mission is to give members a safe place to keep their money while earning fair interest rates. In turn, these funds are loaned to other members at fair interest rates (note that Lending Income accounts for more than 80% of the Credit Union’s operating income). The difference between what is earned from lending and what is paid in dividends (interest) is used to pay the operating expenses of the Credit Union and improve the services provided to members. The Credit Union is a local business. The money we lend to members generally stays in the local area, having a positive impact on the local economy. To further this cycle, the Credit Union looks to support member-owned businesses and small, local businesses for items purchased. Again, this positively impacts the local economy. The number one question I receive from members is “why are the Credit Union’s savings rates so low?” Currently, savings rates at all Financial Institutions are extremely low. Note that the Credit Union’s savings rates compare very favorably with other local and national Financial Institutions. However, if the Credit Union doesn’t earn enough money by lending money to members, the amount we are able to pay in dividends to members is further reduced. This is where the “sustainability” concept applies. The same members asking about low savings rates often have a loan, credit card, or other debt with at a different Financial Institution (often a large, non-local Financial Institution). If these loans were at the Credit Union, we would have additional funds available to add additional services to members, lower loan rates, and increase dividends paid to members. In turn, we have a responsibility to our members to offer favorable loan rates. We have shown that by continuing to match rates on loans. The more our members look to us for their lending needs, the more the Credit Union can give back to its members. It really is that simple. The Credit Union’s Board continues to look to modernize the Credit Union’s products and services to keep them competitive in the marketplace. This is more costly and challenging today than ever. An example of this is our new Credit Card Program. With rates as low as 8.99% and a very flexible rewards program, we believe our card is one of the best around. We encourage our members to look to the Credit Union for their borrowing needs. This will help keep the Credit Union sustainable for generations. Thank you. Have a great summer. P.s. Listen to KASM 1150 AM radio at 9:15 Friday morning, July 11 for our discussion about personal finances, improving your own credit score, and more.
Home Equity Loan Information
The interest rate on Home Equity Credit Lines remains at 4.75%. LENDING RATES (All rates are on an A.P.R. basis) This does not affect those members who have locked their interest New-Titled 3.49% New Non-Titled 4.49% rate. Open a new HELOC and we will lock your interest rate at 5.00% Used-Titled 4.49% Used Non-Titled 5.49% for 3 years. Plus we’ll pay up to $250 of your closing costs for new Home Equity 4.75% Signature (Unsecured) 7.49% HELOC loans of $10,000 or more. Any members who currently have a HELOC loan and borrow additional money All Lending rates are quoted on an “as low as” A.P.R basis. Member Credit history obtained from a credit bureau will be used to determine the member’s actual lending rate. can take advantage of this offer. Call us today! All Rates are subject to change without notice.
