CREDIT UNION
ANNUAL MEETING WRAP-UP
The 34th Annual
Federal Credit Union Meeting was held
•••• at the DuBois
ISSUE 84 Country Club on
SPRING 2007 Saturday March 17,
2007. One hundred
•••• sixty members and
In this issue guests were in
Youth Week ........................ page 2 attendance to help
New Service: us celebrate.
Money Market Share Accounts ..... page 2
The Credit Union Difference ........ page 2 Members enjoyed
The Credit Union Lingo ............ page 2 cocktails, with “Timberland CEO, Carrie Wood (center), and Sam
Relay for Life ..................... page 2 dinner following. Wilson (left), PCUA Youth Ambassador, recognized
Shelly Straub (right) for being Shortway Chapters
Community Days................... page 2 Board President, representative in the Pennsylvania Credit Union
Check Price Changes ............... page 3 Paul Ramsey, Association’s Youth Ambassador Competition, which
ACH Origination Fees Change ..... page 3 called the business was held May 18th in Hershey.”
Thank You ......................... page 3 meeting to order at
Vehicle Loan Buyout ................ page 3 8pm. He began by thanking the staff of the Country Club, who did
•••• a phenomenal job that evening. He followed with an introduction of
Closings the Board Members, the Supervisory Committee, and their spouses.
Paul acknowledged the Bonded Representatives in attendance, which
included Betsy Brown of Bi-Lo (Penn Traffic).
Memorial Day ....................May 28th
Independence Day ...................July 4th
Don Motherwell, Board Secretary, encouraged the audience to read
over the minutes, which were distributed in their packets this year.
821 BEAVER DRIVE
DUBOIS, PA 15801 Dallas Smith, incumbent, and Joe Hockman, incumbent, ran
www.timberlandfcu.org unopposed for two board positions. Both directors were re-elected.
Phone: (814) 371-2676 Congratulations Dallas and Joe! We look forward to continuing to
Toll-Free: 800-477-3889
Fax: (814) 371-0701 work with you!
Email: timberlandfcu@timberlandfcu.org
MARS: 371-8305
or (888) 598-MARS Carrie Wood, our CEO, recognized, Sam Wilson, Timberland’s
710 RIVER ROAD Marketing Director, on winning the Pennsylvania Credit Union
CLEARFIELD, PA 16830 Association’s Youth Ambassador Competition, in 2006. Sam
Phone: (814) 765-1260 recognized Michele Straub, who will be representing the Shortway
Fax: (814) 765-2900
Chapter at the PCUA Annual Convention in Harrisburg this May.
Carrie then recognized all of the Timberland Staff and awarded them
certificates for their years of service.
Continued on top of next page...
Annual Meeting Wrap Up Continued...
Chairman Ramsey adjourned the meeting. The door prizes
were drawn. Board Chairman, Paul Ramsey drew John Haag’s
ticket for the $1500 Vacation Grand Prize. Rusty Gun Revival,
a band from Clearfield, entertained the crowd.
“Our Board Chairman Paul Ramsey (left), along with the Annual
Meeting $1,500 Vacation Grand Prize Winner John Haag (center),
and Timberland CEO, Carrie Wood (right).”
YOUTH WEEK: STASH YOUR CASH NEW SERVICE!
YOUTH WEEK kicks off APRIL 22nd! April 22-28,
2007 we will be celebrating our youth. We will have a
MONEY MARKET SHARE ACCOUNTS
summer prize package for all youth members to submit Timberland FCU just added Money Market Share Accounts to
a chance to win. Also for the parents, keep in mind that our growing list of services. These liquid savings accounts are
the minimum deposit is $5 in a share account. What a a great way for you to capitalize on a higher interest rate, while
great time to start a savings for your children! We will retaining access to your funds. This service is a great way to
also have something special for any youth opening a new diversify your financial portfolio. The rates are based on a tier
account that week. Please stop in and enjoy our “Stash system that is determined by the amount of money in the ac-
Your Cash,” Youth Week, April 22nd- 28th and deposit count. The Board of Directors sets rates. If you are interested in
into your youth club account or open a this new service please speak with Sam or Penny
new one! for more details.
“THE CREDIT UNION DIFFERENCE!” CREDIT UNION LINGO
Timberland FCU decided that at the year’s end of 2006 we Just a reminder that credit union lingo is a little
would show you what the credit union difference meant. Since different than a conventional financial institution. As
we had such a fantastic year our Board of Directors decided to a reminder here are some commonly used credit union
give all of our members in good standing a BONUS dividend. terms, and their conventional translations. The are
We gave an extra dividend payment out which totaled over just to help you remember some services we offer!
$82,000. When we say we give back to our members, we mean
it. So if you know someone who is missing out, bring them in Credit Union
to open an account. Take advantage of what it means Share Account Savings Account
to be a member, and not just a customer. Share Draft Account Checking Account
Share Certificates Certificates of Deposit (CD’s)
RELAY FOR LIFE
Timberland FCU will be participating in the annual DuBois Relay
for Life. Last year, we had our own team for the first time. We
COMMUNITY DAYS
will have a team again this year and will be doing fundraisers in
the upcoming months to raise money for the Relay. The actual Summer is right around the corner. It’s almost
event will be held in DuBois City Park. It is set to begin at 8am, time for DuBois Community Days Celebration.
Saturday July 14th and will end on 8am, Sunday July 15th. All Timberland FCU will be sponsoring this great
of our members and members of the community are invited to event again this year. Come down to City Park and
come and participate in the wonderful event. If you cannot attend, join the staff of Timberland FCU as we celebrate
watch for our upcoming fundraisers including candy bars in the our local community!
lobby! We appreciate your support in all that we do!
CHECK PRICE CHANGES ACH ORIGINATION
We wanted you to be aware that our check prices
will be changing due to the postal service increase.
FEES CHANGE
Liberty, our check supplier has increased prices, ACH Origination fees are changing as follows:
and in order to keep up with the market we had to -To set up a recurring ACH Origination the fee is $5.00
slightly adjust our rates on checks. Before you re- -One time set up fee of $1.50 for non-recurring items
order, please be aware that the prices are changed. -Monthly fee of $0.50 per item.
-Non Sufficient Funds fee of $20.00
THANK-YOU
The staff or Timberland FCU would like to take this
opportunity to thank the following companies for
generously donating door prizes and helping to make
our 34th Annual Meeting a huge success:
April’s Flowers
Bi-Lo Foods
Clearfield County Drug & Alcohol Commission
Dawn Holt (Stylin’ Family Hair Care Salon)
DuBois Lanes
DuBois Harley Davidson
Fort Worth Restaurant
Gold Eagle Inn “Annual Meeting Prize Table, Thank you Sponsors!”
Italian Oven
Luigi’s Ristorante QPS Data Forms Steve Schwartz and Associates
N&E Specialties Red Lobster Shop & Save
Paul Ramsey (Board Chairman) Renegade 4X4 Club Torrell and Bernardo Construction
Peggy Stormer (AFLAC Representative) Rescar Tyler Water Company
Pifer’s Chainsaw Supply Ruby Tuesday
Timberland will once again be running their
VEHICLE LOAN BUYOUT promotion June
1st-31st. We will beat ANY QUALIFIED
VEHICLE LOAN by 1/2%. Stop in and
TAKE ADVANTAGE OF THIS FANTASTIC
OFFER.
*Membership eligibility required. Timberland is an Equal Housing Lender.
Minimums and limits apply loans will adhere to Timberland FCU’s lending
policies; loans already with Timberland will not be considered.
Board Of Directors
Money Market Rates
For 2006 Effective 3/23/2007
Paul Ramsey....................... Chairman Federal Credit Union Dividends Paid Monthly
David Volpe............... Vice-Chairman
Tier Rate APY*
Joe Hockman.......................Treasurer
Donald Motherwell .............Secretary $1,000.00 - $2,499.99 2.23% 2.25%
$2,500.00 - $9,999.99 2.47% 2.50%
Douglas Kougher, Dallas Smith,
Marsha McCurdy $10,000.00 - $24,999.99 2.96% 3.00%
LOAN OFFICERS $ 25,000.00 - $74,999.99 3.445% 3.50%
Linda Sprague,
Tracy Pruzinsky, > $75,000.00 3.93% 4.00%
SUPERVISORY COMMITTEE * APY = Annual Percentage Yield. Minimum balance to open: $0. Minimum to earn stated APY: $1,000. Transaction limits apply.
Bob Winslow - Chairman
Lorin Waitkus, VEHICLE LOANS
Doug Kougher New Vehicles
Max Term* Rate (APR)** Daily Periodic Rate
CEO/PRESIDENT 1-36 Months 4.49%-13.99% 0.01230137%-0.038328767% Maximum Vehicle Loan Terms
Carrie Wood 37-60 Months 5.49%-14.99% 0.015041096%-0.041068493% New Vehicles with a value of $20,000 +
61-72 Months 6.49%-15.25% 0.017780822%-0.043808219%
EXECUTIVE VICE PRESIDENT 72 months
Jen Eisman Used Vehicles New & Used Vehicles with a value of $12,000 +
Max Term* Rate (APR)** Daily Periodic Rate 60 months
VICE PRESIDENT OF BRANCH 1-36 Months 5.49%-14.99% 0.015041096%-0.041068493% New & Used Vehicles with a value of $8,000 +
37-60 Months 6.49%-15.99% 0.017780822%-0.043808219% 48 months
OPERATIONS 61-72 Months 7.49%-16.99% 0.020520548%-0.046547945% New & Used Vehicles with a value of $6,000 +
Dianne Jenkins Recreational Vehicles 36 months
Model Year Rate (APR)** Daily Periodic Rate New & Used Vehicles with a value of $3,000 +
Hours 2003-2007
Below 2003
6.49%-15.99% 0.017780822%-0.043808219%
7.49%-16.99% 0.020520548%-0.046547945%
24 months
LOBBY AND DRIVE-UP: *Maximum term depends upon Vehicle Value as indicated by NADA Retail or Trade Values and model year.
**APR= Annual Percentage Rate. Rates are determined by loan type, term of loan, and member’s credit rating.
9 am to 5pm Monday thru Thursday
9 am to 6 pm Friday FIRST QUARTER DIVIDEND RATES
9 am to Noon Saturday RATE APY
REGULAR SHARE 2.00% 2.02%
EXTENDED DRIVE-UP HOURS: SHARE DRAFT 0.50% 0.50%
8:30 am to 5:00 pm Monday CHRISTMAS CLUB 2.00% 2.02%
8:30 am to 6:00 pm Friday VACATION CLUB 2.00% 2.02%
IRA 3.00% 3.03%
8:30 am to 12:00 pm Saturday
CLEARFIELD HOURS: IRA CERTIFICATES
QUARTERLY MONTHLY
9 am to 5 pm Monday & Tuesday
9 am to 3pm Wednesday RATE APY APY
90 Day 4.52% 4.60% 6 Month 4.67%
9 am to 6 pm Thursday & Friday 6 Month 4.62% 4.70% 1 Year 4.76%
1 Year 4.76% 4.85% 18 Month 4.75%
Present Loan Rates 18 Month
2 Year
4.81%
4.91%
4.90%
5.00%
2 Year
3 Year
4.80%
4.47%
Unsecured Loan 3 Year 4.67% 4.75% 5 Year 4.47%
5 Year 4.67% 4.75% 7 Year 4.16%
Maximum 72 mos ...........as low as 8.40%APR* 7 Year 4.72% 4.80%
Overdraft Protection Loan ..as low as 8.40%APR*
TERM SHARE ACCOUNTS
Shared Secured..................................Call for APR
QUARTERLY MONTHLY
GSL Student Loan ................................6.54%APR
RATE APY APY
PLUS Student Loan .............................7.94%APR 90 Day 4.47% 4.55% 6 Month 4.62%
6 Month 4.57% 4.65% 1 Year 4.67%
CU Student Loan.................as low as 8.00%APR* 1 Year 4.67% 4.75% 18 Month 4.70%
18 Month 4.81% 4.90% 2 Year 4.70%
Home Equity .........................8.37% APR Variable 3 Year 4.47%
2 Year 4.81% 4.90%
Visa Card .............................. as low as 8.40%APR 3 Year 4.67% 4.75% 5 Year 4.47%
5 Year 4.67% 4.75%
*Refinanced APR will adhere to Loan Policy
*APR = Annual Percentage Rate. Rates are Please contact an employee of the credit union for information on applicable fees and terms. *APY equals
determined by loan type, term of loan and annual percentage yield. This credit union is federally insured by the National Credit Union Administration.
members credit rating. Your savings are federally insured up to at least $100,000 by the NCUA.
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