FALL 2020 4296-01020-CCNEWS VOLUME 21, NUMBER 2
ANNUAL MEETING UPDATE The Crow Wing Power Credit Union Board of Directors at their September 17, 2020 board meeting voted to forego our annual meeting based on the current COVID-19 Pandemic and Minnesota Executive Order 20-86. You can view a copy of our Annual Report at cwpcu.org by clicking on the Newsletter box.
Diane Viehauser, Doris Mezzenga and Laurie Hoenig were elected to the Credit Union Board of Directors. Thank you members for sending in your ballots and being a part of the process.
INTERNATIONAL CREDIT UNION WEEK, OCTOBER 12-16, 2020 Each year the world comes together to celebrate International Credit Union Week to raise awareness about what it means for members around the world to have a Credit Union as their financial partner. This year more than ever it is good to know that your Credit Union is here to help. We continue to serve our members through the drive up, on the telephone, through secure email and online. We want to continue that spirit of service during International Credit Union Week. Open a new certificate, checking or loan account during the week and your name will be entered in to a drawing for a $100 Visa Gift Card. In addition, the Credit Union will make a $10.00 donation to Gillette Children’s Specialty Healthcare for each new service opened during the week. In 2019, Gillette helped 412 community members from Crow Wing, Cass and Morrison Counties.
HISTORICALLY LOW LOAN RATES -Your Credit Union has some of the lowest loan rates in the Brainerd Lakes Area. Rates on vehicles are as low as 1.99%* for 36 months. No closing cost Home Equity rates are as low as 2.50%*. The Credit Union also does fixed rate mortgages through AmeriCU Mortgage. Call the Credit Union today or go to cwpcu.org for more information. *New money only. Current CWPCU loans are not eligible for these rates. All loans subject to credit approval. Other rates and terms available based on collateral and credit. Rates based on credit scores, so your rate may be higher. Crow Wing Power Credit Union NMLS #408088, AmeriCU Mortgage NMLS #3028
DOCUMENT DESTRUCTION Paper Storm will be providing secure document destruction at our office on Tuesday, October 13, from 11:00 to 2:00. This is the only time you can drop off your documents for destruction. You must stay in your vehicle. The Credit Union will have staff working to unload your documents and put them in the secure bins. Take advantage of this free service and know your personal information is kept safe and secure.
ATM/DEBIT CARD NEWS • •
Card Valet, Apple Pay and Google Pay will be available on your Debit Card January 2021. Plan ahead to avoid frustration at the check-out counter or online when you are holiday shopping. Give us a call if you plan to purchase a large item and/or your daily spending will go over $1,000 for the day. We will verify your balance and increase your daily limit to accommodate your personal spending.
HOLIDAY SAVINGS ACCOUNTS Over one hundred and sixty members took advantage of our convenient Holiday Savings Account and during the past year accumulated over $160,000 for their holiday shopping. That money was transferred into their regular savings accounts on October 1st and can be moved to the checking account when they are ready to start shopping. They will enjoy a worry free and credit card free January 2021. What a great way to start the New Year! Call us to open a Holiday Savings Account and you can set aside up to $100.00 per month to cover your 2021 holiday shopping expenses.
SNOWBIRDS Please contact the Credit Union to give us your seasonal address and the dates you will be enjoying a warmer climate. Your Tax Documents do not get forwarded by the Post Office and are returned to the Credit Union.
UPCOMING BOARD MEETINGS - October 15 • November 19 • December 17 MORTGAGE LOANS
SAVINGS RATE
APY
Regular Savings
.20%
.20%
Holiday Savings
.40%
.40%
Home Equity Line of Credit
IRA Savings
.50%
.50%
Checking
Up to 80% of tax assessed value Variable rate tied to Wall Street Journal Prime Rate Up to 15 year amortization Primary Residence, Cabin, or Land loans
.15%
.15%
IRA Certificates available in 1 & 2 year term only
Credit Connection is published quarterly by Crow Wing Power Credit Union.
Mailing Address: Your local loan processor Loans serviced by AmeriCU Mortgage NMLS #3028
Dividend penalty for early withdrawal
.55% .85% 1.05%
Members .................................................... 5,419 Assets .......................................... $107,208,585 Deposits........................................ $99,299,635 Loans ............................................ $56,832,912 Reserves.......................................... $7,563,024
Fixed Rate 15,20,30 year Mortgages available.
Certificates ($1,000.00 Minimum)
6 month Certificate 1 year Certificate 2 year Certificate
August 31, 2020
Home Equity Up to 80% of tax assessed value Rates as low as 2.50% Up to 30 year amortization with 3 or 5 year balloon Primary Residence, Cabin, or Land loans
(maximum deposit $100 per month)
(with a $500 average daily balance)
FINANCIALS
PO Box 962 Brainerd, MN 56401
Office Location:
CWP Headquarters on 17330 State Hwy. 371 North
Drive Up Hours:
7:30 a.m. - 5:00 p.m. Monday-Friday Lobby closed until further notice
.55% .85% 1.05%
APY=Annual Percentage Yield Rates subject to change without notice. effective 10-1-2020
Phone:
(218) 825-2208 (877) 563-3072
Fax:
(218) 822-2678
Website:
www.cwpcu.org
NMLS #408088