collegeville community credit union


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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 [email protected] www.collegevillecu.com

What’s Inside Page 1     

Kids & Teens SJU Branch Update Annual Meeting 2014 Tax Information Cooks Corner

Page 2     

Share Deposit Reduced Scholarship Opportunity From the President’s Desk Current Rates Home Equity Loans

COLLEGEVILLE COMMUNITY CREDIT UNION December 31, 2014 Kids &Teens Savings Program When we were young, many of us had savings set up for us by our parents or grandparents. We learned a lot watching the savings grow from the simple deposits of baby sitting or lawn mowing money. Often, we had big plans for the money we were saving. The Credit Union is committed to helping our younger members learn about the benefits of saving money. We offer a Kids and Teens Savings program here at CCCU to encourage children to develop positive savings habits early in their lives. This program includes a savings dividend rate of .65% (.50% higher than our share savings rate), age appropriate newsletters, a birthday card during their birthday month, offers, and opportunities within this central Minnesota area. Contact us to sign up a any children in your life!

SJU Branch Update - Nico Marasco, SJU ‘16

The Collegeville Community Credit Union’s new student branch is a fantastic opportunity to further assist the St. Johns community. Our location in Sexton Commons next to the bookstore is conducive to a great amount of foot traffic. The original goal of the stuCook’s Corner dent branch was to open 50 new student /faculty/staff accounts in one school year. We Pudding Dessert have already opened nearly 20 accounts and completed two separate loans for students. In by Anna Norton the New Year, we have an arsenal of marketing ideas that will hopefully help us surpass our 1 cup flour year-end goal. 1/2 cup butter One of the greater obstacles we have worked to overcome is properly informing stu2 TBL sugar 1/2 cup chopped nuts dents of who we are and what we offer. We have planned a monthly event called “Free Fridays” which will occur every month until the end of the school year. This is a time where Mix and pack into a 9 x 13” pan. Bake at 350° for 10 to 12 minutes the Credit Union will offer free snacks to the students while sharing with them what we are all about. Our first “Free Friday” event was in December. We served over 200 Johnnies and and cool.. Mix: Bennies with an extravagant hot cocoa bar. This means 200 more students now know more 8 oz. cream cheese about the Credit Union. We are eager to throw another “Free Friday” event this January, 1 cup Cool Whip this time with free food, and plan to educate the students on the benefits of joining this 1 cup powdered sugar Credit Union via short seminars on relevant topics. Spread on cooled crust. The focus behind the student branch is total student involvement. This is a fantastic opportunity for students to take an active role in the promotion of a new on-campus busiCook 2 packages pudding flavor of choice, according to directions ness and allows us the chance to partner up with on campus clubs, such as the Enactus BUT less 1/2 cup milk. business club, in the promotion and expansion of our presence on campus. I believe that Spread on top of cream cheese mixture. Top with additional Cool the new Collegeville Community Credit Union student branch will greatly exceed its yearWhip. Garnish with chopped nuts. end goals and become an even greater partner on the Saint Johns campus.

2015 Collegeville Community Credit Union Annual Meeting Thank you for sharing your recipe, Anna. All members are invited to attend our annual meeting Sunday, March 1st, 2015, 1:15, H a v e a g r e a t r e c i p e ? at St. John the Baptist Parish Center. As a cooperative business, members can actively parSubmit your recipe to us. If we print it ticipate in the direction of the Credit Union. Interested members are encouraged to run for in our quarterly newsletter, we’ll add a position on the Board of Directors. Please contact the Credit Union by January 31, 2015, $10 to your Credit Union Account!! and we will get you in touch with the Nominating Committee.

Main Office Hours 7:30 a.m.-5:00 p.m. M-F SJU Branch Hours 10:00 a.m. - 4:00 p.m. M-F (May vary on non-school days)

2014 Tax Information

The Credit Union will mail tax information to members in Mid-January, 2015. You will receive a statement if you have a Real Estate Loan (Form1098), or you have earned more than $10 in dividend income on your savings/CDs (Form 1099) in 2014. Please call us if you have any questions regarding tax reporting. Thank you!!!

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Collegeville Community Credit Union Quarterly Newsletter

Board Reduces Share Deposit Amount Purchasing a “share” is what each of member does to be part of the sustainability and future of CCCU. This share gives you the right to become a Credit Union member and work as a volunteer, vote on issues and policies, enjoy member benefits, and be part of a local financial organization serving its area members. This December, the CCCU Board of Directors voted to reduce the minimum share deposit amount from $25 down to $10, effective Jan 1, 2015. This is a great time to encourage family and friends to become members, and for you to sign up children and grandchildren who may need an introduction to the savings, finances, and the advantages of banking locally.

11:59 p.m. 02-01-15, 500 words= $1,000.00 The Minnesota Family Involvement Council is again offering post-high school scholarships up to $1,000 to credit union members. Applicants need to complete a short essay of just 500 words. Your deadline is 11:59 p.m. on February 1st. Scholarships are available to both traditional and non-traditional students. Check out the previous winning essays and application here: http://mnfic.org/scholarships/ application-eligibility/. Your time investment could earn $1,000 toward your education. 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 .20% Youth Savings

.65%

IRA Savings (Traditional or ROTH)

.35%

Certificates of Deposit 3 Month ($500.00 minimum) 6 Month 1 Year 2 Years 3 Years 4 Years

$1,000

$5,000

.20% $10,000

.20% .35% .60% .80% .90%

.25% .40% .65% .85% .95%

.30% .45% .70% .90% 1.00%

(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.

From the President’s Office

Greetings to all Credit Union Members. I hope everyone had a Merry Christmas and a Happy New Year!!! As each year passes at the Credit Union I find myself reflecting on our accomplishments for the past year (I had my 10th Anniversary at the Credit Union this year!!!). Once again, 2014 was a year of change for the Credit Union. Our Board made two key Strategic Decisions in 2014: 1) Entering the Credit Card Business; 2) Opening our Student Run Credit Union Branch on the SJU Campus. These initiatives are very progressive and will positively impact the Credit Union for years to come. Our CCCU Credit Card has one of the lowest rates in the area. We thank all members that have taken advantage of this program. If you carry a Credit Card balance, you need to consider our card. With rates between 8.99%-14.99% APR our card can save you money (our highest rate is lower than many cards lowest rate!!!). By simply using your card (even if you pay it off each month) the Credit Union benefits. If you do carry a balance on your card, a lower interest rate means you will save money in interest charges and pay your card balance sooner. The SJU Student Branch positions the Credit Union back to its roots on the SJU Campus. We are a convenient resource for SJU and CSB students, faculty and staff. We currently employ four part time students at the Branch. In 2015, we will add another part time employee, begin having some students work at our Main branch, and have two interns working on projects for the Credit Union. This relationship benefits both the CSB/SJU community and the Credit Union, which is what the Credit Union is all about. In 2015, the Credit Union is looking to pursue more initiatives. These will be Mobile Banking and E-Statements. It is easy to forget that such products are costly to implement, but your support of the Credit Union makes these initiatives possible. This is a key difference between a Credit Union and other Financial Institutions. Your support directly benefits the Credit Union, our members, and the local community. It has been a pleasure serving our members this past year. I am extremely proud of all that our Board, Staff and Volunteers have accomplished in 2014. On behalf of our staff, Board and volunteers, we wish all of our members a Happy and Prosperous 2015. P.s., Remember your member benefit of our

CCCU password to the on-line Consumer Report magazine. Contact us for this password before you make any new purchases !

Home Equity Loan Information

The interest rate on Home Equity Credit Lines remains at 4.75%. This LENDING RATES (All rates are on an A.P.R. basis) does not affect those members who have locked their interest rate. Open a New-Titled 3.49% New Non-Titled 4.49% new HELOC and we will lock your interest rate at 5.00% for 3 years. Plus Used-Titled 4.49% Used Non-Titled 5.49% we’ll pay up to $250 of your closing costs for new HELOC loans of $10,000 Home Equity 4.75% Signature (Unsecured) 7.49% or more. Any members who currently have a HELOC loan and borrow additional money can take advantage of this offer. 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. Call us today! All Rates are subject to change without notice.