Fool Proof - Financial Literacy by mll78346


									                                                                                                                                                                                                                                                                                                                                                   prsrt std

                 envision ranks high in                                                                                                                                                                                                                                                                                                          u.s. postage
                                                                                                                                                                                                                                                                                                                                                tallahassee, fl

         Investment Management Competition                                                                                                                                                                                                                                                                                                        permit #904

                                                                                                                                                P.O. Box 5198, Tallahassee, FL 32314-5198

 Envision Chief Financial Officer Dan McGowan
 recently attended a workshop on financial
 institution investment portfolio management,
 conducted by Performance Trust University.

 Over two dozen credit union, banking, and
 investment professionals from around the nation
 attended the event in Atlanta.

 The program capstone was a competition in which
                                                                                                                                                 Envision will be closed for the
 participants managed an investment portfolio over a
                                                                                                                                                 following holidays:                                                                                                         New Financial Center Names
 simulated three year period.
                                                                                                                                                 May 31 .......................................................... Memorial Day
 Envision’s results placed second behind Navy Federal Credit                                                                                     July 5 .......................................................Independence Day                                                          Parkway Financial Center
 Union, the largest credit union in the nation.                                                                                                  To obtain cash 24-hours a day, seven days a week, use your                                                                             Appleyard Financial Center
                                                                                                                                                 Envision VISA Debit card at automated teller machines.                                                                                Lake Jackson Financial Center
 Back in the real world, where it really matters, Envision’s                                                                                     Balance your checkbook or make Credit Union loan payments by                                                       In the coming weeks you’ll notice we’ve renamed three of our financial
 investment portfolio has consistently performed                                                                                                 calling MoneyLine at (850) 942-9011 or (800) 824-3894, ext. 1.
                                                                                                                                                                                                                                                                    centers. If the “new names” look familiar it’s because these are the names
 well in a market where many other financial                                                                                                     Use eBranch to view your account transactions and eStatements,                                                     many of you already use in referring to these branch offices.
                                                                                                                                                 transfer funds, make Credit Union loan payments and pay bills.
 institutions have experienced losses over the past                                                                                                                                                                                                                 The old names were just based on compass points and we think the way
                                                                                                                                                 Visit for more information.

                                                                                                                                                                                                                                                                                                                                                                                                            on: rs!
 several years.                                                                                                                                                                                                                                                     you related them to roads and a big lake make more sense.
                                                                                                                                                 Visit Envision Online Auto Center for the most current new and

                                                                                                                                                                                                                                                                                                                                                                                                        nti pe
                                                                                                                                                 used auto loan rates, car buying information, and AutoAdvisor free                                                 Thanks!

                                                                                                                                                                                                                                                                                                                                                                                                     tte hop
                                                                                                                                                 auto buying service.

                                                                                                                                                                                                                                                                                                                                                                                                       ar S
                           Fool Proof – Financial Literacy
                                                                                                                                                 Board of Directors                                                          Supervisory Committee                                                      Management

                                                                                                                                                 David Helton ...................................................... Chair   Dr. Jim Croteau....................................................Chair   Darryl Worrell........................................President/CEO

                                for the Whole Family
                                                                                                                                                 Doris Payne......................................... First Vice Chair       Dorothy Binger .............................................Vice Chair     Becky Parsons ................Senior V.P., Financial Services
                                                                                                                                                 Thomas Perrin ................................ Second Vice Chair            Dr. Marvin Henderson ....................................Secretary         Dan McGowan ................................. Senior V.P., CFO
                                                                                                                                                 M. Christopher Bryant .................................. Secretary                                                                                     Anice Prosser.................Senior V.P., Human Resources                                                                                                            Denise Hannah, an employee of the Gadsden County
                                                                                                                                                 Dr. Sam M. McCall ....................................... Treasurer                                                                                    Edith Griner ..... Senior V.P., Member Support Services                                                                                                               School Board, has been a member since 1977.
                                                                                                                                                                                                                                                                                                        Hollie Maddox ...............Senior V.P., Members Service
  The need for financial literacy among              Specifically, the BEST Project asked        great source of unbiased information on
young people is something Envision Credit         Envision Credit Union to work on meeting       many finance related topics.                                                                                                                                                                                                                                                   Buy a new car and get a rate of 3.64%              And with these rates in effect until the   applying before you shop is that you’ll know
Union has worked on for years, because we         the need for financial education among            To find FoolProof on the Envision web-                                                                                                                                                                                                                                    APR for new car loans up to 48 months or          end of June, you have time to shop for the    how much you’re approved for ahead of time.
                                                                                                                                                 Phone Numbers
know good financial habits are best started       teens. After reviewing a wide variety of       site ( click on the          Main Number 850-942-9000                                                                                                                                                                                                     4.14% APR up to 72 months!                        perfect car.                                    Use our Auto Advisor service for a no
early in life.                                    solutions, “FoolProof – Real Financial         Education tab and look for FoolProof in         Toll Free 1-800-824-3894                                                                                                                                                                                                       These rates are in effect until June 30, 2010      You can save time by applying online at    haggling, no hassle purchase. With your
  Our latest initiative is a partnership with     Literacy for All” was chosen – based on its    the dropdown menu.                              MoneyLine 850-942-9011                                                                          For Information on Financial Center                                                                                          for loans of at least $18,000 for 2009, 2010, . Go to the Autos          approved loan in hand, Don or Dee will
the BEST Project of the United Way of the         appeal to young people and their families.        This isn’t the only way we’re addressing     Toll Free 1-800-824-3894, ext. 1
Big Bend. The BEST (Believe – Earn – Save            FoolProof is a free online resource with    the financial literacy needs of youth in our                                                                                                       Locations, Hours and Services                                                                                             and 2011 model years with less than 15,000        section and click on Apply for a Loan.        locate the car or truck you’re looking for
                                                                                                                                                 Mailing Address                                                                                                                                                                                                              miles. Borrowers qualified for these special      Of course you can also apply at any of our    and may arrange to have it delivered to the
– Thrive) Project seeks to focus on “the          specific modules for teens, teachers working   community. Credit Union employees have          P.O. Box 5198                                                                                        Visit                                                                                                rates will meet normal creditworthiness           financial centers. The big advantage of       Credit Union.
needs of working individuals and families         with teens, parents and grandparents           gone to high schools to teach classes on        Tallahassee, FL 32314-5198                                                                                                                                                                                                   criteria and a minimum Beacon credit score
utilizing strategies that empower them to         working with teens and young adults.           money management, insurance, investing                                                                                                                 or Call (850) 942-9000                                                                                                of 640.
achieve long-term financial stability.”           The latest module has to do with financial     and understanding credit.                       Website
                                                                                                                                                                                                                           Toll Free (800) 824-3894                                                                                                 This is a great time to take advantage of
                                                  literacy in the workplace. FoolProof is a                                                                                                                                                                                                                                                                                   a super rate and 100% financing. As the                 compare credit cards • courtesy pay • home buying strategies
                                                                                                                                                                                                                                                                                                                                                                              economy improves you can be sure rates                  free home buying seminar • investment options • business lending
                                                                                                                                                                                                                                                                                                                                                                              will start to rise.
                                                                                                                                                                                                                                                                                                                                                                                                                                      insuring your home to its reconstruction cost • financial literacy
Did You Know…
You Could Be
                                            Compare Credit Cards – Or Pay                                                                                                       Home Buying Strategies –                                                                                                                    Investment Options
Earning ScoreCard®                            Too Much, Way Too Much                                                                                                              It’s The Right Time to Buy                                                                                                                   Moving Forward
Reward Points?                                                                                                                                                                                                                                                                                                                             Jeff Johnson, Seven Hills Financial LLC
                                         The Credit Card Act of 2009 requires credit          Our calculator is versatile so you can also        These days we’re always being asked, “What is    • Our fees for processing and underwriting are      • Our mortgage staff is not paid on a
                                       card issuers to provide you, the consumer,          use it if you already have an Envision Visa        the market doing?” “Are rates starting to go up?”     reasonable and lower than most. We want             commission basis, as almost all other                                       If you’re like most         • Financial planning services
                                       with information about your credit card that        card and you want to know how much extra           “Have housing prices bottomed out?” “How              you to compare – and we’ll take the time to         mortgage originators are. So our motivation is                           investors you found            • An experienced investment manager
                                       will make you a more informed credit card           to pay each month in order to pay the balance      much longer will it be a good time to buy?”           help you interpret the information so you           to bring the best service possible to you. We’ll                         no safe havens for your          (Portfolio Design Services, LLC)
                                       user. So now every month your credit card           off sooner, or how long it will take to pay in        We want you to know we are feeling                 decide the best financing option.                   give quality attention to the big, and the little                        dollars during the perfect     • A fee based agreement with full disclosure
                                       statements will let you know how long it will       full if you pay a flat payment each month.         optimistic! In our geographical membership          • To date we have never sold our mortgage             transactions.                                                            storm we encountered in          of costs.
                                       take to pay in full at the minimum payment,            What makes credit card balances take a          area, we’re starting to see more home sales, and      servicing and hope to always service all of our   • We’ll prequalify or pre-approve you so you                               late 2008 and into 2009.         We look forward to the opportunity to           Business Lending
When you use your envision Visa
                                       and how much you’ll need to pay in order to
                                       pay it in full in three years.
                                                                                           long time to pay off? It’s a combination
                                                                                           of the interest rate and the fact that credit
                                                                                                                                              we’re definitely starting to see more new home
                                                                                                                                              construction. With warmer weather here and
                                                                                                                                                                                                    mortgages. That means you can walk right in
                                                                                                                                                                                                    with any questions you have about escrow,
                                                                                                                                                                                                                                                        will know what your budget can buy – before
                                                                                                                                                                                                                                                        you go shopping for your home.
                                                                                                                                                                                                                                                                                                                                    With a continued trend
                                                                                                                                                                                                                                                                                                            of low interest rates we’re reaching out to
                                                                                                                                                                                                                                                                                                                                                                assist you as needed. Please call (850) 980-
                                                                                                                                                                                                                                                                                                                                                                0361 or email
                                                                                                                                                                                                                                                                                                                                                                                                                     at Envision
credit card or your envision debit       We want you to be able to compare your
                                       other cards to our Envision Visa cards, which
                                                                                           card payments are typically a percent of
                                                                                           the outstanding balance, so as your balance
                                                                                                                                              summer approaching, we expect to see lots of
                                                                                                                                              activity this year! The interest rate environment
                                                                                                                                                                                                    payments, pay-offs, etc. There are no 800           When it comes to real estate transactions,
                                                                                                                                                                                                                                                                                                            offer guidance in seeking reasonable returns
                                                                                                                                                                                                                                                                                                            on investments.
                                                                                                                                                                                                                                                                                                                                                                to learn more about our services.                   Credit Union
card (signature only) you are                                                                                                                                                                       numbers or long waits on automated phone          don’t go it alone. We want Envision to be your
earning scoreCard® reward points       have rates of 8.5% APR for Platinum and             reduces, the required minimum payment              has been stable for the past six months – it’s        lines.                                                                                                    Seven Hills Financial LLC, is available to                                                          did you know that envision does
                                                                                                                                                                                                                                                      mortgage lending partner. Check out our home
which can be used to select valuable   11.9% APR for Classic. Check out the credit         also reduces — thus lengthening the overall        possible that will continue but our crystal ball                                                                                                              help structure your investments with short to                                                         business lending?
                                                                                                                                                                                                  • We process and underwrite our loans in-           buying and mortgage financing section on our
merchandise. starting in may,          card calculator on our website to see the           repayment period. By understanding all this        isn’t giving us the answer.                                                                                                                                   long term goals. We can provide:                                                                      allow us to put you in touch with our
                                                                                                                                                                                                    house, so we are available to respond and help    website or call our Home
there will be scoreCard® reward        difference if you were to transfer your credit      and comparing terms you’ll be better informed         But the message we can give you with                                                                                                                       • Comprehensive review of your existing                                                               business lender, Kevin mcalpine, who
                                                                                                                                                                                                    resolve any questions or issues that may come     Loan Team at (850) 942-9234.
BoNus points for members who           card balance to our Visa cards. Go to               to make smarter financial decisions.               certainty are the things to look for when you                                                                                                                   portfolio                                                                                           has 25 years of commercial lending
                                                                                                                                                                                                    up between your application and the time
use their new debit and/or credit and click on Credit                                                                 finance your home purchase or refinance.                                                                                                                                                                                                                            experience.
cards within 60 days of activation
                                                                                                                                                                                                    you close your loan.
                                       Cards. There’s also a link to easily apply online                                                      Remember that as a Credit Union, we are a                                                                                                                                                                                                                           Kevin is the head of united member
– 5,000 Bonus points to be exact.      for our Visa card.                                                                                     non-profit financial cooperative, so our motive
                                                                                                                                              is not profit but service to members and
                                                                                                                                                                                                                                                                                                                     The Importance Of Insuring                                                                   Business services, a cooperative credit
                                                                                                                                                                                                                                                                                                                                                                                                                  union service organization we created
                                                                                                                                                                                                                                                                                                                          Your Home To Its
Also, starting in May
members will get double                   Courtesy Pay Complements                                                                            our local community. Here’s how we can be                                                                                                                                                                                                                           along with focus Credit union and
                                                                                                                                                                                                                                                                                                                                                                                                                  tmh federal Credit union. the lending
                                                                                                                                                                                                                                                                                                                       Reconstruction Cost
ScoreCard® Reward BONUS                                                                                                                       different:
points when using their credit
and/or debit card more often.               Your Checking Account                                                                                                                                                                                                                                                                            By Duane Putney, Putney Insurance
                                                                                                                                                                                                                                                                                                                                                                                                                  power combination of our three credit
                                                                                                                                                                                                                                                                                                                                                                                                                  unions gives united member Business
Here’s how to do it:                                                                                                                                                                                                                                                                                                                                                                                              services the strength to be directly
                                                                                             Sign up for Overdraft Protection which                                                                                                                                                                                                                                                                               competitive with banks for business
                                                                                                                                                                                                                                                                                                                                    Current economic            the home’s purchase price. For several reasons,
• debit Card – douBle points for                                                           also provides other steps to protect you:                                                                                                                                                                                                                                                                              loans.
                                                                                                                                                                                                                                                                                                                                 conditions are greatly         the cost to rebuild is always higher than the
  13 transactions of $25 or more,                                                          • Link your checking account to your share                                                                                                                                                                                            impacting everyday             initial cost to build. For example, building      in the past year and a half we have
  per month                                                                                  (savings) account so that if you have an                                                                                                                                                                                            life. Many people are          on an existing site and debris removal are        made loans to member businesses
• Classic Credit Card – douBle                                                               overdraft, the money to cover the overdraft                                                                                                                                                                                         making modifications           two major factors that play into the cost to      that have ranged from $20,000 to
  points for 6 transactions of $30                                                           is transferred from your savings to your                                                                                                                                                                                            to their discretionary         rebuild.                                          $2 million, including lines of credit for
  or more                                                                                    checking account. The transfer fee is just $5.                                                                                                                                                                                      spending and as a result         At Putney Insurance we highly recommend         working capital, equipment financing,
• platinum Credit Card – double                                                            • Tie your checking account to your Credit                                                                                                                                                                                                                                                                             and real estate loans for medical and
                                                                                                                                              free Home Buying seminar
                                                                                                                                                                                                                                                                                                            have decided to place home renovations              you notify your insurance agent of any
                                         Everyone makes a mistake now and then
  points for 8 transactions of $40                                                           Union credit card and the necessary funds                                                                                                                                                                      and construction projects on hold. They             changes made to your dwelling throughout          professional offices, warehouses, and
  or more                              because no one is perfect. The yellow light
                                                                                             will automatically be transferred to your                                                                                                                                                                      presume there is a corresponding decrease in        the year that could substantially change          office condos.
                                       turns red while we’re still in the intersection.
if you have an envision debit                                                                checking account. The transfer fee is $5.                                                               With home prices the lowest they’ve been            Patti Ketcham is our seminar speaker. Patti        the residential construction costs just as the      the replacement value. This could be an           We’re proud to have an organization
                                       We write a check or use our debit card
or credit card, you’re already                                                             • If you have a line of credit loan, you can                                                            in years and interest rates just as low, many      is the owner of Ketcham Realty Group, Inc.            residential market has declined.                    upgrade in bathrooms, kitchens, cabinets, any     through which we can make business
                                       thinking there is enough money in our
earning scoreCard points. You                                                                link your checking account to it and funds                                                            people see this as a great opportunity to buy a    She is a past president of the Tallahassee Board        As home market values have plunged as             additions, finished basements, etc…               loans with the credit union philosophy.
                                       checking account.
may have thousands of points and                                                             will be transferred to your checking account                                                          home. If you’re contemplating the purchase of      of Realtors and has over 20 years in both real        much as 30%, some homeowners presume                  You should also review annually your            Kevin mcalpine and united member
                                         The Credit Union can’t help if you end up
not even know it! go to www.                                                                 to cover overdrafts. The fee is $5.                                                                   a home, you’ll want to attend Envision Credit      estate and mortgage lending.                          insurance premiums should decrease as well.         dwelling coverage on your homeowner               Business services are committed to to find           with a traffic ticket, but we can help you avoid
                                                                                                                                                                                                   Union’s Home Buying Seminar.                          Patti will provide important information           Contrary to popular belief, while home              insurance policy. We have programs that           doing what is right for our members,
                                       costly and embarrassing “returned checks or           Here are additional things you can do to
out how many points you already                                                                                                                                                                      This seminar is invaluable to first-time home    about the home buying process, including              market values plummet, construction costs           do an excellent job in calculating an up-to-      without the aggressive sales approach
have. Check out all the valuable       denied transaction.”                                avoid overdrafts:
                                                                                                                                                                                                   buyers and a great refresher for repeat buyers     choosing a home, making an offer and closing          remain strong and even continue to increase.        date replacement cost and would be happy          that a bank typically requires.
gifts you can select from when           Our Courtesy Pay program accomplishes             • Keep your check register up to date.                                                                  because today’s real estate market is different    the loan. She’ll also explain the advantages of         According to a recent survey by insurance         to complete it for you. Being accurate on         our efforts in 2010 are to continue to
you cash in your scoreCard®            this by allowing items to be paid even when         • Always keep a “cushion” of money in your                                                              from any in the past.                              getting pre-approved for a mortgage before            services firm MSB, 68% of homes are                 your home’s replacement cost at the time of       develop products and services such as
reward points! the key to earning      there are not sufficient balances in the              account.                                                                                                The seminar is free and will be held             you begin house hunting and what kind of              underinsured by an average of 18%. If your          a major loss will insure that there is 100%       our newly revamped business checking
scoreCard® reward points is to         account, up to a pre-set limit, on checks, Bill     • Use MoneyLine or eBranch to check your                                                                Thursday April 22, from 6 to 8 p.m. at             information you’ll need to provide the Credit         home is insured at $250,000 and you face            coverage available to restore your home.          accounts for members and to increase
always sign for your transactions      Payer, ACH items and currently on ATM and             balance frequently.                                                                                                                                                                                                                                                                                                  our marketing awareness within the
                                                                                                                                                                                                   the Main Office, 440 North Monroe Street.          Union in order to be approved.                        a major loss where the cost to rebuild is
rather than entering your piN at the   debit transactions.                                 • Don’t forget about automatic deductions                                                                                                                                                                                                                                                                              local community so business owners
                                                                                                                                                                                                   Refreshments will be served. Pre-register by          Space is limited, so sign up today by calling      $295,000, you would be underinsured by
terminal.                                Each time you overdraw your account, the            you’ve set up to come out of your checking                                                                                                                                                                                                                                                                           know they have another financial
                                                                                                                                                                                                   calling (850) 942-9000, option 3. Everyone         the Credit Union at (850) 942-9000 or register        $45,000. Many homeowners don’t realize
                                       Credit Union covers your check or withdrawal          account.                                                                                                                                                                                                                                                                                                             alternative.
and if you have both an envision                                                                                                                                                                   who pre-registers, and attendes the seminar,       online at                         that an insurance premium is based on the
                                       and you’re charged the Courtesy Pay fee of
credit card and debit card, you can                                                                                                                                                                will receive a coupon for $100 off their                                                                 replacement cost to rebuild a home in the                                                             Kevin mcalpine can be reached at
combine the points and watch your      $29.50. The only requirement for using this
                                                                                                                                                                                                   closing costs.                                                                                           event of a major loss; not the market value or                                                        (850) 694-1811.
points pile up faster.                 service is that you sign up for direct deposit.

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