"Home Equity Loan Bad Credit Minnesota"
Quarterly Newsletter for Members of CoVantage Credit Union Winter 2006 Members Get Biggest CoVantage Victim of Identity Fraud Pay Back Ever No Losses Reported Loan Rebate Returns $1.2 Million A recent scam has fake CoVantage Credit Union checks popping up across At CoVantage Credit Union, membership equals ownership. As an the country. This latest attack by con owner, the credit union has an obligation to provide greater financial artists informs would-be victims that value than one would get as a mere customer at a bank. We do this a they’ve won a large sum of money from a number of ways such as paying market-leading rates on deposits, lottery or prize pool. They receive a keeping loan rates com- smaller check (often for $2,850 or $3,026) petitive, and offering with instructions to call a telephone num- most services at either ber for details on claiming the larger no cost or at a lower prize. Upon making the call, the victim is cost than our competi- told to cash the small check, (which is a tion. Another way is our counterfeit CoVantage check) and wire a tradition of paying loan portion of the money to another party. interest rebates. This is where the scam occurs. There is That tradition lives no lottery, and once money has been on! We are proud to wired it is gone for good. The person announce that for the who cashed the counterfeit check is then 25th consecutive year, out the funds. we will be paying a loan interest rebate to reward members who bor- The good news is, so far, neither row from CoVantage. This year’s rebate will put a record $1.2 million CoVantage nor any members have report- into the pockets of members by returning 5% of interest paid on ed a loss from this fraudulent use of our loans and credit cards. (To be included in the rebate, payments must name and logo. However, this is not the be current and the rebate check must total at least $5.) first time CoVantage has been a victim of Because of the long tradition of paying rebates, some members identity theft. During the first part of assume the rebate is automatic. However, it is only declared after the 2006, we received notice that outside indi- Board determines the credit union has sufficient annual income to meet viduals had been making phone calls capital needs. impersonating credit union staff. In this Here’s how the rebate works: If you paid $5,000 interest on your situation, scam artists were calling to ask home loan in 2006, you will get a $250 rebate check. In effect, this members for personal account informa- rebate reduces the effective rate paid on loans. Not bad, considering tion (social security number, account CoVantage loan rates and fees are already some of the most competi- numbers, and passwords). Fortunately, tive in the market! there were no losses from those incidents We want CoVantage savers to know we’ve been working equally either. hard to provide financial value on deposits. The fruits of these efforts Please remember that if an offer were recently recognized by a credit union watchdog group that seems to good to be true, it probably is! (Continued on page 4) (Continued on page 4) Annual Meeting Notice Wednesday, February 28th • 7:00 p.m. Volm Theatre, Antigo Senior High • 1900 West 10th Ave., Antigo There are two (2) open positions on CoVantage Credit Union’s Board of Directors. The nominating committee has selected the following nominees to run for election. Other eligible CoVantage CU members may be nominated by means of a petition, provided it is submitted within the timeframe and guidelines indicated below. Directors serve a term of three (3) years. Members may vote for Board candidates in one of two ways: By ballot at the Annual Meeting on By absentee ballot. Members who are unable to attend Wednesday, February 28, 2007. the Annual Meeting may vote by requesting an absentee Meeting begins at 7:00 p.m. ballot using the form at the bottom of the next page. Thomas J. Bradley Antigo, WI Dwight Nelson Wausau, WI Thomas Bradley has been a member of CVCU’s Dwight Nelson has 14 years of credit union board for 9 years. He was vice-chairman in 2006 board experience. He has been on CoVantage’s and served as secretary for two years. Tom has com- board for the past 3 years, and prior to that was a pleted credits to earn the Filene Continuing director for Community Credit Union of Wausau. Education Award and the Board of Directors Award During his 11-year tenure on Community’s board, from the Wisconsin Credit Union League. he was the chairman for 5 years. Tom has served as president of the Community Dwight retired in June of 2006 after teaching Health Foundation and the St. John School Board of mathematics at Wausau West High School for 37 years. He holds a bach- Education; and was a charter organization representative of Cub Scout elor of science degree in secondary education from UW–Eau Claire and Pack 443 in Antigo. He is active in the Langlade County Historical earned his master’s degree in education-professional development from Society, Knights of Columbus Council 1002, St John Church, and belongs UW–Stevens Point. to the Funeral Service Alliance of Wisconsin, and Member Selected Dwight has participated in the Wausau Education Association, Independent Funeral Homes. Wisconsin Education Association, and National Education Association. Tom holds a bachelor’s degree in Mortuary Science from the University In retirement, he participates as a retired member of each association. of Minnesota, and has done post graduate work at Cardinal Stritch Dwight feels that after years of credit union involvement, he believes College in Milwaukee. the way to secure and expand benefits to our members is through intel- An Antigo native, Tom is a funeral director and co-owner of Bradley ligent growth. He also believes his knowledge of credit unions and of the Funeral Home in Antigo. He has been a CoVantage member for 25 years. Wausau area will be beneficial to the Board. Tom and his wife, Laurel, have five children. A credit union member for 37 years, Dwight and his wife, Cindy, have two children. James Kurth Wausau, WI A lifelong resident of Wausau, James Kurth is a Board Nominations by Petition lawyer and a sole practitioner in a law office, which Any member in good standing who is eligible to vote specializes in divorce, personal injury, and work- man’s compensation cases. and who wishes to be placed in nomination for a James is a graduate of Wausau High School, and board opening, may do so by submitting a written the University of Wisconsin-Milwaukee where he petition. Said petition should include a signed and earned a bachelor of arts degree. He also holds a Doctor of Jurisprudence from the University of dated statement of willingness to serve, along with Wisconsin Law School. qualifications. The petition must be signed by at least Within the Wausau community, James has been active with the 50 CVCU members who are eligible to vote. The National Resources Defense Council; the Sierra Club; the Nature Conservancy; the American Civil Liberties Union; and with WXPR deadline for petitions is February 2, 2007. Send Radio. James is a member of the Wisconsin State Bar Association. petitions to: James believes that living in the Wausau area, along with his 30 years of experience working with individuals and their legal problems, has ATTN: Chairman, CoVantage Credit Union given him a perspective that can be of benefit to CoVantage’s Board of PO Box 107 Directors. Antigo, WI 54409 A CoVantage member for 15 years, James has four adult children. ELIGIBLE VOTING MEMBERS: 1) Are listed as the first name on an account with CVCU; 2) Are at least 16 years of age; AND 3) Are those who have joined CVCU prior to the end of business December 30, 2006. Nominations from the floor will not be accepted. Online Banking Enhancements... New Online Security – The word is that members using e-TEX, our free Internet Staff News banking service, love the convenience of 24/7 account access. You’ll also love know- Please join us in congratulating ing the information security staff at your credit union are continually working to keep Mary Raddant and Kaye Zenner for 25 it safe. years of credit union service. We recently added a new layer of security to meet federal regulations that will help Mary Raddant is the Administrative build a profile of your online banking activity. Once your profile has been established, Assistant in our main office. In this our systems will work to detect non-typical activity on your accounts. If anything out- role, Mary provides executive level of-the ordinary is attempted, steps will be taken to deter potential fraudulent access. support to the Watch for future alerts on our web CEO, Vice page for more information on this Presidents, and enhanced online security. Board of New Web Look – In the next few Directors. Mary’s weeks, we will be introducing a ability to be newly designed website. The new highly organized site will feature a fresh new look and efficient, and more user-friendly pages for along with her our members. Mary Raddant, knack for tech- Administrative Assistant Shown at right is a preview of nology, have con- the new look which will soon be tributed to her success at CoVantage. posted at www.covantagecu.org. Kaye Zenner is a Financial Service Representative in the Wausau office. We’ve Built a Better Members rely on Kaye’s experi- Home Equity Loan ence for assis- tance with check- ing, IRA, certifi- Lower Fixed Rates cates and other accounts. A for- Longer Terms mer Community Now up to 20 years! Credit Union of Wausau staff Kaye Zenner, Financial Rates as low as 8.125% APR member, Kaye is Service Representative well-known by Remodel Your House • Take A Vacation many Wausau area members. Consolidate Debt • Pay for College *Annual percentage rates (APR) accurate as of 12/13/06. APR is based on less EQUAL HOUSING Promotions & Job Changes: than 50% loan to value. $25 annual fee if borrower does not have CVCU checking. OPPORTUNITY Kathy Gussert – Lead Teller Absentee Ballot Request Form Shawn Habert – IS Technician 2 Laura Hauser-Menting – Teller I request an absentee ballot for the 2007 election of the Board of Directors of CoVantage Credit Aaron Hurt – IS Security Officer Union. I understand that the ballot, along with a complete list of candidates, will be mailed to me Susan Wolf – Lead Teller at the address below, beginning on February 12th. All information must be complete before an absentee ballot will be mailed. Completed ballots New Staff: must be received by CoVantage Credit Union on or before February 23, 2007. You may mail this Callie Bertsch – Financial Service form to the address below or drop it off at any CVCU location. Representative, Antigo _____________________________________________________________________________________________ Jamie Burris – Teller, Shawano Name Account Number Chong Chang – Teller, Wausau _______________________________________________________________________________________________ Tracie Hall – MEMBERS Financial Mailing Address _______________________________________________________________________________________________ Services Clerk, Antigo City, State, ZIP William Hampe – IS Programmer/ _______________________________________________________________________________________________ Operator, Antigo Signature of Primary Member Daytime Phone Number Brian Holmberg – Custodian, Iron River Mail request form to: CoVantage Credit Union, Marketing Department Linda Steidl – Custodian, Antigo PO Box 107, Antigo, WI 54409-0107 (Continued from page 1) (Continued from page 1) Loan Interest Rebate Identity Fraud ranked CoVantage in the top 1% of all Also, know that CoVantage staff will 8,720 credit unions in the nation in terms never contact you and ask you to provide of a measure called “Return to Savers.” personal or other account information. If Antigo ...................723 Sixth Avenue (Return to Savers is a score that evaluates you are on the receiving end of a call and 715-627-4336 credit unions on the deposit services pro- are asked to provide confidential informa- Crandon.....502 West Pioneer Street vided to their members.) tion, do not provide any information. You 715-478-5100 Membership equals ownership. should inform your financial institution Shawano...911 East Green Bay Street Ownership equals extra financial value. and the authorities at once that you 715-524-8200 We are proud of this year’s rebate and received such a call. However, if you call Wausau .......110 South First Avenue will work hard to assure that you are not the credit union, there are times we will 715-845-4351 just a mere customer, but a full fledged need personal information to verify your Weston.........3807 Schofield Avenue owner with all the benefits ownership identity. The difference is that when you 715-359-3994 entitles you to! initiate the call to the credit union, you can Crystal Falls, MI ....1 Credit Union Way be confident you are really speaking with a 906-875-6686 Deposit Rates CoVantage staff member. Iron River, MI......303 Fourth Avenue Regular Savings .................2.00% APY 906-265-5147 IRA Statement Account .......4.25% APY NCUA Increases 24 Hour Services Health Savings Account ......3.40% APY Retirement Coverage e-TEX...........www.covantagecu.org Funeral Statement Account ..4.20% APY TEX (Local calls to Antigo) ..............623-7771 Above accounts require a $10 minimum deposit. As of April 1, 2006, the amount of TEX (Long distance to Antigo) ...1-800-290-8663 federal NCUA deposit insurance on CD SPECIAL credit union retirement accounts such Lobby Hours 15 Month........5.35% APY as traditional and Roth IRAs was Mon-Thurs..........8:30 am – 5:00 pm ($5,000 Minimum) Friday ..................8:30 am – 6:00 pm Interest compounds quarterly. Penalty may be imposed increased to $250,000. (Previously Saturday..................8:30 am – Noon for early withdrawal. NCUA provided up to $100,000 cov- (Sorry, no Saturday lobby hours in Weston) VARIABLE RATE ACCOUNTS erage on retirement accounts.) Up to $4,999........................3.00% APY Drive-Up Hours Retirement account insurance pro- $5,000 to $9,999 ...................3.65% APY Mon-Thurs..........7:30 am – 5:30 pm $10,000 to $24,999 ................3.90% APY tection is separate from insurance on Friday ..................7:30 am – 6:30 pm $25,000 to $49,999 ................4.20% APY other credit union accounts. NCUA $50,000 to $99,999 ................4.45% APY Saturday..................8:30 am – Noon $100,000 or $1,499,999...........4.65% APY insurance coverage for other share accounts is still $100,000. Call Center Hours *Annual percentage yields (APY) accurate as of 12/13/06. Deposits federally insured by National Credit Union Administration (NCUA). Mon-Fri ...............7:00 am – 7:00 pm Saturday..................8:30 am – Noon CoVantage Credit Union Privacy ••••••••••••••••••••••••• At CoVantage Credit Union, your privacy is a top priority. This notice describes how we protect the privacy of your personal information. Office Schedule Please note the following dates: CoVantage Credit Union collects non-public personal information about you from the following sources: Martin Luther King Day – OPEN • Information we receive from you on applications and other forms; Monday, January 15 • Information about your transactions with us or others; and • Information we receive from consumer reporting agencies. Presidents Day – OPEN Monday, February 19 We may disclose the following information to other financial institutions that perform marketing services on our behalf with which we have joint marketing agreements: • Information we received from you on applications or other forms such as your name, address, date of birth, gender, social security number, member enrollment date, and phone number. • Information about your accounts with us, such as your account balance. • If a member prefers to ‘opt out’ of this disclosure, they may do so by picking up an “Opt Out - You Have the Right to Choose” form at any CVCU location or by calling 1-800-398-2667. If you terminate your membership, or become an inactive member, we will adhere to the privacy policies and practices as described in this notice. CoVantage Credit Union restricts access to your personal account information to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards to guard your non-public personal information.