VELOCITY Member Newsletter • July 2007 insider Velocity’s 2007 Scholarship Recipients Velocity sponsored a reception June 19 to present its 14th Annual Velocity Credit Union Scholarship Awards. Nine scholarships were awarded to young credit union members -- three to high school seniors and six “ongoing scholarships” to current college students. Since the scholarship program’s inception, the Credit Union has awarded more that $82,000 in scholarships. The Limuel Hunter Scholarship was awarded to Isa Rochin, a graduate of LBJ High School’s magnet program. Rochin will attend Rochester Institute of Technology in New York where she will study film and animation. The Tom Eaton Memorial Scholarship was given to Courtney Passow, who graduated from Round Rock High School and will be a pharmacy major at the University of Houston. Kevin Davis, a graduate of Leander High School, who plans to attend the University of Texas, received the Royal G. Wilson Memorial Scholarship. Six scholarships were awarded to current college students, who were former winners as graduating seniors: Michael Kallstrom, Rice University; Alejandro Delgado, Georgetown University; Kasey Ruedas, University of Texas; Jordan Hamessley, American Musical and Dramatic Academy; Christopher Buescher, University of Texas; and Nicolas Arredondo, a mathematics major also at the University of Texas in Austin. Velocity president and CEO Larry Strong said, “I’m proud to serve a board of directors that is so invested in giving back to its membership and in helping our young people attain their goals.” PHOTO: Pictured, l to r, Carol Cain, vice president, marketing, Velocity Credit Union; Isa Rochin, Kevin Davis, and Courtney Passow, Class of 2007 scholarship winners; Fred Rodgers, vice chair, Velocity Board of Directors. Town Lake Animal Center’s Rawhide Round-up Velocity Credit Union employees and members generously donated doggie chew toys and rawhide treats to help out our furry, four-legged friends at Town Lake Animal Shelter. The call went out for chew toys to help soothe the animals during the upcoming 4th of July fireworks show held annually at Town Lake. Our wonderful employees and members answered the call and came through in a BIG way. On behalf of the dogs and cats who await a home from a loving family, we say, “Thank you!” Pictured: Yolie Zabaneh, marketing assistant; Luis Acuna, community relations manager; and Chachi. Go green. Win some green. Life is easier with paperless e-statements. Sign up for E-Statements and be entered to win $500 cash. Simply log in to Online Banking, click on the “E-Statement/E-Notices” icon and follow the steps to enroll. Once enrolled, you’ll start receiving your account statements in your email inbox and not your mailbox. Entry sign-up period ends July 31, 2007 at 11:59pm. Drawing to be held August 1, 2007. Build a fence. Drop in a swimming pool. Add a room. And never break a sweat. Loans with fixed rates starting as low as 6.99% APR* We offer two ways to improve your home. Approval is no sweat either. We make it as easy as possible to get you on your way to turning your current home into your dream home. Home Improvement Loans Before you get started - check with us. Velocity offers loans designed to make even the largest of home improvement projects manageable. From $5,000 to $50,000, our lending specialists will get it done right. Home Equity Loans With a home equity loan from Velocity, you can use the equity in your home to get some extra cash today. You can spend it any way you’d like. Use it for a home improvement project or pay off your high interest rate credit cards and ease the burden on your wallet. Also, the interest paid on the loan may be tax deductible.** *APR=Annual Percentage Rate. Flexible terms up to 20 years. 6.99% APR is valid in conjuction with Member Rewards. **Consult your tax advisor regarding the deductibility of interest. Normal credit criteria apply. Rates for approved loans are based on the applicant’s credit score. Other restrictions may apply and rates are subject to change without notice. Stated “rates as low as” apply to well-qualified applicants. Promotional offer does not apply to Austin Energy Home Loans. Enter Velocity’s SeaWorld Summer Giveaway Register to win a family four-pack of SeaWorld tickets & a limited edition Shamu® Huffy bike! Visit velocitycu.com for complete rules, to register, and to purchase discount tickets online. Introducing ACH Transactions for Your Business! Velocity Credit Union now allows our business customers the direct ability to provide the following: •Payroll direct deposit •Electronic collection of dues, tuition, charitable contributions, premiums, rental fees and more! Businesses can save significant fees by collecting funds through the Automated Clearing House (ACH): •Reduced fees through ACH vs. merchant credit card exchange fees •Reduced fees from bank service charges on returned ACH items vs. returned checks •Quicker clearing time •Avoid wire transfer fees and send/collect payments from domestic and international companies Velocity Credit Union offers two options for businesses to take advantage of initiating these ACH transactions on their own time, at their convenience and from any computer using our web-based solution: Business ACH Payment Station — whereby individual payments are entered and directly scheduled through our secure web portal, or Business ACH File Transport — whereby files exported from your business accounting software are uploaded securely to the portal for processing For more information, call or stop by one of our five branches and speak with our branch managers or call 512.469.7000.
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