collegeville community credit union


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Proudly Serving our Members Since 1938 P.O. Box 5577 Collegeville, MN 56321 Phone: 320-363-7751 Toll Free 1-855-363-7751 Fax: 320-363-0353 www.collegevillecu.com E-mail: [email protected]

Main Office Hours

7:30 a.m.-5:00 p.m. M-F

COLLEGEVILLE COMMUNITY CREDIT UNION June 30, 2015 Chip & Dip: Security and Your Credit Card

Card theft happens largely due to easily captured and replicated data on old-fashioned magnetic strip cards. EMV - which stand for Europay, Master Card and Visa - is the new SJU Campus Branch global standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions. CCCU recognizes the critical importance of doing everything Summer Hours 10:30 a.m. - 1:00 p.m. M-F we can to protect card users, and will be issuing EMV cards to our members starting this fall. This means greater protection for you against fraud and theft. When using an EMV card you will “dip instead of swipe” your card at upgraded check-out terminals. Most often What’s Inside a signature will be required as well, just as it is now. In the U.S., card owners and merchants Page 1 need time to switch over to the new technology, so some store terminals won’t yet have the “chip dip,” but will have the current swipe-terminals that you see and use now. To accom Chip & Dip: Security modate this technology transition, most cards will come with both the magnetic stripe and  Major CCCU Initiatives the EMV chip for many months. The introduction of EMV cards is one of the ways CCCU  Commissioners Visit CCCU works to promote the financial security and safety of all members.  Cook’s Corner This transition to EMV cards is part of the liability shift from merchants to financial institutions that will occur in October, 2015. With millions of cards that will need to be Page 2 reissued worldwide, priority is being placed on reissuing Credit Cards. CCCU Credit &  Board News  Ed Smolenski Scholarship Debit Card holders will receive new EMV Chip Cards when their current cards expire.  From the President’s Desk However, Credit Cards will be re-issued first. Timing for EMV Debit Card re-issue is not known at this time, but will likely be in late 2016.  CCCU Sponsors Area Summer Events Real-time Data, 7,000+ CU’s Strong & Mobile App!!!  Current Rates  Home Equity Loans By the end of August, the CCCU will be going live with several major technology advances, helping to further protect your security while being globally accessible! Cook’s Corner Real-time Debit Transactions: With this enhancement, set to roll out on August 17, Marble Squares By Laverne Dylla 2015, debit card transactions will show up in “real-time” versus waiting for the transaction Bottom Layer to post to your account. This allows members to accurately track their checking account 1/2 Cup Butter balances and charges; coupled with online banking access, this enables members to moni3/4 Cup Water tor their accounts and will help to detect fraud faster. Members will keep their current 1 1/2 oz Unsweetened Chocolate cards until they expire. At that time members will be issued a “new look” CCCU debit 2 Cups Flour 2 Cups Sugar card. With this upgrade, members will also have options to reset their PIN via telephone. 2 Eggs (beaten) Joining “The Network”: On August 10, 2015, CCCU is joining the Co-Op Financial 1/2 tsp Salt Services Shared Branching Network. This means you will be able to transact business fee1 tsp Baking Soda free on your credit union account at over 7,000 locations nationwide (and members of oth1/2 Cup Sour Cream er “network” Credit Unions will be able to transact business on their accounts at CCCU). Top Layer 1– 8 oz Package Cream Cheese Whether you’re a snowbird, are traveling for work, or just sightseeing across the country, 1/3 Cup Sugar our participation in this nationwide CU network is a terrific advantage for you! 1 Egg Mobile Banking Application – What is it? It is a “Virtual Wallet” accessible via a 1 Cup Chocolate Chips smart phone, computer or other mobile device. The “Sprig” virtual credit union wallet Bottom Layer. Combine Butter, water & Chocolate in a pan. Bring to combines all the accounts a member holds from any institution in the network together in a boil. Remove from heat. Stir in one spot. It's as convenient as a laptop or smart phone and accessible anytime, day or night. flour, sugar, baking soda & salt. Add eggs & sour cream. Mix well. Pour in Members can access their accounts, make remote deposits, transfer between accounts, make person-to-person payments (in and out of participating networks)- from virtually anya greased jelly roll pan. Top Layer. Combine cream cheese where. This service will be available to members beginning August 10, 2015. and sugar. Blend in Egg. Spoon over bottom layer chocolate batter. Cut through batter with knife. Cover with Chocolate Chips. Bake at 375 degrees for 25-30 minutes.

Commissioner of Higher Ed Visits Our SJU Campus Branch

On April 21, we were honored by a visit to our SJU Campus Branch by State Commissioner of Higher Education, Larry Pogemiller and Deputy Commissioner of Commerce, Shane Deal. They came in recognition of the Campus Branch and our Financial Education We need your Recipe!!!! H a v e a g r e a t r e c i p e ? efforts. Over 20 professionals from the State of Minnesota, CSB/SJU, and the Minnesota Submit your recipe to us. If we print it Credit Union Network attended, including SJU President Michael Hemesath, CCCU Presiin our quarterly newsletter, we’ll add dent Mark Douvier, SJU Branch Manager Justin Ostendorf, CCCU Board Members Denis $10 to your Credit Union Account!! Hynes, Terry Schwab, Sandy Eiynck, and all of our Campus Branch Student staff.

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Collegeville Community Credit Union Quarterly Newsletter

Board of Directors News

From the President’s Office

We’re pleased to welcome CCCU member Paul Tomczik to our volunteer Board of Directors. Paul lives in Sartell with his wife, Laura, and three sons, and is the manager of the Albany branch office of Edward Jones Financial Advisors. An interesting note about Paul is that he studied for a year of college at the University of Trier, in southwestern Germany. The Board of Directors is led by Brad Opatz as chair, and Jim Dwyer as vice-chair. We appreciate all the volunteer members who serve each month to keep the credit union moving forward. We thank all members of the Board of Directors and all Volunteers for their dedication and hard work.

Edward Smolenski Memorial Scholarship

The Ed Smolenski Scholarship was created to honor the legacy and work of former Credit Union President, Ed Smolenski. We are offering two $500 scholarships to our members for the 2015-16 school year. Scholarships are available to students who are/will be attending a non-profit, post-secondary school and who are a Credit Union member (or a direct family member of a Credit Union member). The application is available on our website (collegevillecu.com), or by calling the Credit Union office. The deadline for applications is Friday, July 31, 2015. Scholarships will be awarded in time for fall enrollment. Don’t delay, complete your application today!!! 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.

LENDING RATES (All rates are on an A.P.R. basis) New-Titled 3.24% New Non-Titled 4.24% Used-Titled 4.24% Used Non-Titled 5.24% Home Equity 4.75% Signature (Unsecured) 7.24% 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. All Rates are subject to change without notice.

Greetings to all Credit Union Members. This August I will complete my 11th year at the Credit Union. When I look back I think of all that we have accomplished during this time. When I first started at the Credit Union, I recall many members affectionately referring to us as the quiet place in the middle of the woods. Other than the building we’re located in, almost everything has changed, especially the services offered. These upgrades were accomplished through the hard work of current and former staff and volunteers. With their hard work, dedication and vision, we have moved far beyond being a small place in the middle of the woods. Last November our Credit Union entered into a new world. We opened a second branch on the St. John’s University Campus. We are the first and only student run Credit Union Branch in the State of Minnesota!!! I am very proud of this achievement. In recognition of this accomplishment, we received some special visitors from the State of Minnesota during this past April (Financial Education Month). State Commissioner of Higher Education Larry Pogemiller, Deputy Commissioner of Commerce Shane Deal, Minnesota Credit Union Network President Mark Cummings, and St. John’s University President Michael Hemesath visited our Branch to discuss the SJU Campus Branch and our work on Financial Education. This visit was humbling and exhilarating. It was nice to see our Credit Union recognized for paving new ground. We continue to move the Credit Union forward with the advent of Mobile Banking, Shared Branching and upgrading our Debit Card program. The additions of these services positions the Credit Union for growth and places us on a level field with our competitors. The last area I’d like to touch on is member information security. Many think that your personal information is less safe in a smaller institution than a larger one. This is definitely not true. Because of our size, we are able to watch member transaction activity closer to detect fraud. During the recent Data Breaches (Target, TJ Maxx, and others) we closed and reissued new debit cards within days. Our response was much faster than most competitors. Further, the new advancements discussed in the newsletter (EMV Chips, Real Time Debit Cards) are in the spirit of further protecting your data. Thank you for the trust you place in the Credit Union. We are proud to be “YOUR” Credit Union. Enjoy your Summer!

CCCU Sponsors Great Area Summer Events for 2015

Join us at one of the many events we are sponsoring this summer. Attend the free Sunset Stages outdoor music events at the College of Saint Benedict’s Darnall Amphitheater this summer. These July events are all on Thursdays: July 2, 9, and 16, beginning at 7:30 p.m. You can bring a picnic basket and lawn chairs, or sit on the bleachers provided. Learn more at: www.csbsju.edu/finearts or 320-363-5777. Don’t forget the annual Joe Town Rocks concert on July 3rd. And, the annual Tour of Saints Bike Ride takes place Sunday, July 12. Anyone can join in this event, as it is a ride, not a road race. Learn more: 320-266-7579.

Home Equity Loan Information

The interest rate on Home Equity Credit Lines remains at 4.75%. This does not affect those members who have locked their interest rate. Open a new HELOC and we will lock your interest rate at 5.00% for 3 years. Plus we’ll pay up to $250 of your closing costs for new HELOC loans of $10,000 or more. Any members who currently have a HELOC loan and borrow additional money can take advantage of this offer. more about this. Call to learn more.