MAY 2007
scfederal.org
Groundbreaking in Summerville
New branch is officially underway
Volunteer leaders, executive team members and employees of South Carolina Federal on March 30 joined officials from the Town of Summerville, SC, to break ground for the credit union’s forthcoming branch at the corner of North Main and West 9th North Streets.
Dignitaries break ground on South Carolina Federal’s new branch in Summerville. Pictured (left to right): Sandy Wrenn, manager, current Summerville branch; Mark Maness, executive vice president, CBI; Jim Nunamaker, director of governmental affairs, South Carolina Credit Union League; Quince Cody, president/CEO, GS/DC Chamber of Commerce; Joe Cumbo, board member; Bruce Owens, police chief, Town of Summerville; Gen. J. Emory Mace, board member; Ralph Cathey, board vice chairman; Berlin G. Myers, mayor, Town of Summerville; Rick Buckner, board chairman; Joe Daning, supervisory committee member; Charlyne Butler, volunteer advisor; Scott Woods, president/CEO.
“It’s been an honor and a privilege over the past two years to serve as board chair and see this project come to fruition,” outgoing Chairman Rick Buckner said of the new Summerville branch. “Thank you for allowing us to participate in this vibrant economy.” Board Member and Chairman of the Facilities Committee Gen. J. Emory Mace added, “Summerville is a great place to live and work. This new location is going to take care of our existing member base and help grow membership for the future.” The new Summerville branch will feature 6,145 square feet of space with member convenience as the top priority. The design incorporates the Life Simplified branch concept, similar to that of the Manning facility, including multiple self service areas for member use.
Stay one
step ahead of high payments with our special, limited time offers on
auto loan transfers, fixed home equity loans, and 0% orgination mortgages.
See scfederal.org or contact us for details.
ATM Upgrades In Process
Postage stamps will be discontinued
South Carolina Federal is making way for advanced technology ATMs. Unlike most current ATMs, however, the new machines do not dispense postage stamps. Therefore, the credit union will phase out postage stamps for purchase at all ATMs, effective immediately. “The advanced technology machines offer unparalleled convenience to members who use ATMs,” said Glen Senterfeit, senior vice president of Sales and Service. “While some members appreciated the availability of postage stamps, we believe our new ATMs’ enhanced features, such as accepting up to 100 mixed bills at a time, check imaging, and no need for deposit envelopes, far outweigh the benefits of our existing machines.” For questions or concerns, contact us at 843797-8300 in Charleston or 800-845-0432 Nationwide.
Holiday Closure
South Carolina Federal branches will be closed on Monday, May 28, in observance of Memorial Day. You will still enjoy around the clock access to your South Carolina Federal accounts through conveniently located South Carolina Federal ATMs, ATMs with the CO-OP® Network logo, Teller Talk and iTeller.
This credit union is federally insured by the National Credit Union Administration
scfederal.org
A Message from MEMBERS Financial Services
Consumer Rate Shop
DIVIDEND RATES
Rates are quoted as Annual Percentage Yields (APY)
Checking (minimum balance $150) Share Savings (minimum balance $150) Money Market ($50,000 or more) 0.30% APY 0.60% APY 3.50% APY
Retirement Income Planning
There’s a Big Difference Between “Not Working” and “Not Worrying”
Are you approaching retirement — or already retired? If so, you should have a retirement income plan in place to meet your goals. If you’re like most people, you concentrate on when you’ll retire. However, it’s much more important to think about how you’ll retire...and how you’ll be able to have a steady income. A hit-or-miss plan regarding your retirement income may prevent you from experiencing the type of joyful, stress-free retirement you have worked so hard for. Ask yourself the following questions: • “Am I financially prepared to retire?” • “How much income can I realistically expect from my savings?” • “What sources of income should I draw upon and when?” • “How do I know if my income will last? Or run out?” • “How should I handle the rollover of my 401(k) plan?” • “What about taxes, inflation, rising healthcare costs, low interest rates, and a fluctuating stock market?” A MEMBERS Financial Services Representative can work with you to answer these questions and build a plan for your retirement income that allows you to live without worrying about whether you’ll outlive your savings. For more information, or to arrange a personal oneon-one retirement income planning consultation, call MEMBERS Financial Services coordinator Catherine Sonntag, 843-569-4917 in Charleston or 800-845-0432, ext. 4917 Nationwide. Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member NASD/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Non-deposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members.
REGULAR AND IRA SHARE CERTIFICATES
Rates are quoted as Annual Percentage Yields (APY)
Term 12 months Regular (min. $500) 5.05% APY Jumbo ($50,000+) 5.31% APY
Additional terms from 3–60 months are available. Senior Service Checking and Member’s Choice Checking account holders earn 1⁄4% higher dividends rate on share certificates. Minimum balance required. Fees could reduce earnings. Penalty for early withdrawal.
LOAN RATES
Rates are quoted as Annual Percentage Rates (APR)
Auto/Truck/Trailer/ Motorcycle Boat/RV Loans Personal Loans
Personal access line (PAL) – revolving line of credit and fixed-term loans
New – As low as 7.00% APR Used – As low as 7.25% APR New – As low as 7.00% APR Used – As low as 7.25% APR As low as 12.00% APR
MasterCard and Visa Visa Platinum Fixed Rate Second Mortgage Home Equity Line of Credit Mortgage
First mortgages and refinances
As low as 10.99% APR As low as 8.99% APR As low as 7.50% APR As low as 8.25% APR* Call us or visit our website for current mortgage rates
Senior Service Checking and Member’s Choice Checking account holders receive 1⁄2% consumer loan rate discount, and all other members get a 1 ⁄4% consumer loan rate discount by making automatic payments. Discounts do not apply to first or second mortgages, credit cards, home equity lines of credit, share certificates, or share loans.
Rates are current as of April 18, 2007, and are subject to change daily. Please contact South Carolina Federal for applicable fees and terms. Call Teller Talk® at 843-797-8255 or 800-845-8355 for other current loan and deposit rates or visit scfederal.org.
*Variable rate based on Prime rate as published in The Wall Street Journal the last Wednesday of the preceding month. The maximum APR that can apply is 18%. Property insurance is required.
BRANCH INFORMATION
Branch Hours Lobby Monday – Friday Drive-up Windows Monday – Thursday Friday Contact Center Monday – Friday
9:00 a.m. to 5:30 p.m. 8:30 a.m. to 5:30 p.m. 8:30 a.m. to 6:00 p.m. 8:30 a.m. to 5:30 p.m.
Charleston: 843-797-8300 Columbia: 803-738-8300 Georgetown: 843-545-8300 Nationwide: 800-845-0432 E-mail: contactcenter@scfederal.org Teller Talk (24-hour telephone account access) 843-797-8255 (Charleston) 800-845-8355 (Nationwide) Report Lost or Stolen Debit or Credit Cards 800-449-7728
Keeping the American Red Cross One Step Ahead
Charleston area blood drive May 29
South Carolina Federal members, employees and the public are invited to donate blood to the American Red Cross on Tuesday, May 29. An American Red Cross Bloodmobile will be on site at the Rivers Avenue branch parking lot in North Charleston (2175 Credit Union Lane) from 9:00 a.m. to 1:00 p.m. Your donation can make a lifesaving difference to someone in need!
SOUTH CAROLINA FEDERAL STATS
As of March 31, 2007
Assets Loans to Members Member Savings Members
$1,320,286,001 $1,057,347,566 $1,072,350,811 148,516
InBalance is published monthly for members of South Carolina Federal Credit Union. Address comments and suggestions to: Marketing Department South Carolina Federal Credit Union P.O. Box 190012 N. Charleston, SC 29419-9012