Summer 2020 Newsletter

Nickel Dime Quarterly A Publication For Members of Del-One Federal Credit Union.

We’re Celebrating

Summer 2020 l www.Del-One.org

A Letter From Our President Ron Baron, MBA, President/CEO For 60 years, you, our member-owners have entrusted Del-One to help with your financial services and guidance along your life’s journey.

Loan delinquency and loan losses continued to trend downward in 2019. The combined ratio dropped from 1.34% in 2018 to 1.25% in 2019.

On behalf of every Del-One employee, I want to express our depth of gratitude for allowing us to be of service to you.

For those of you who were unable to attend Del-One’s virtual annual meeting on June 30th, I would like to recap some of the highlights.

I want to also say a few words about the Del-One Foundation.

The Foundation is the way the Credit Union continues its commitment to the communities we serve. I ask that when you see a Del-One Foundation fundraiser, please consider showing your generosity by participating in the event.

I met with Betty Baker to discuss the inception of what we now know as Del-One FCU. In 1960 Betty’s husband, the late Watson Baker Jr., an employee of the Delaware Highway Department, traveled to Harrisburg Pennsylvania to the Bureau of Credit Unions, to pick up the charter for the newly formed Delaware Highway Federal Credit Union.

The Del-One Foundation is looking for sponsors and participants for the 9th annual golf tournament to be held September 17th at the Maple Dale Country Club in Dover. Go to the Del-One web site for more information about this event.

Watson was the first “CEO” (then referred to as Manager) of the Credit Union until 1967 when his wife, Betty took over until 1992. I again want to thank Mrs. Betty Baker for the hard work she and her husband did in getting the Credit Union started. They are both a credit to the Credit Union philosophy of “People Helping People”.

The Credit Union’s condition from 2019 was also reviewed.

Del-One’s membership increased by 7.5% to 71,155 member-owners and compares favorably to our peer’s average growth of 1.5%. Very impressive growth by any measure.

At December 31, 2019, the Credit Union’s capital ratio was 9.93%. The Credit Union is rated as being well-capitalized according to NCUA capital requirements.

Rest assured that we are well positioned to weather adverse economic conditions and still be financially strong.

The Credit Union had a regularly scheduled examination by the National Credit Union Administration (NCUA) at the end of January 2020. The examiners reviewed activity since the last exam in 2018 through the end of September 30, 2019.

The results were very favorable with no findings.

Del-One’s net income for 2019 was the highest in the Credit Union’s history. The return on average assets was 80 basis points and compares favorably to the 73 basis points of our peer credit unions. Earnings are used to continue building up the Credit Union’s member equity. Earnings allow us to continue to grow the Credit Union. Good earnings are helped by strong asset quality. Asset quality is important since poorly performing loans reduce the Credit Union’s earnings and members’ equity.

Board of Directors Nancy Shevock, Chair Steve Smith, Vice Chair Bill Pfaffenhauser, Secretary Gerald McNesby, Treasurer Robert Baldwin, Director

Kevin Mitten, Director Lisa Strusowski, Director Trey Wallace, Director Diana Farrell, Director

Many awards and presentations were also given during the annual meeting event. Please see the Virtual Annual Meeting Recap on page 4 and click here to view Del-One Federal Credit Union’s 2019 Virtual Annual Meeting.

Every Del-One member knows the benefits of belonging to a credit union; as we are all member-owners. With the combined efforts of members and those of the Del-One staff, everyone can achieve a strong financial future. Del-One has been making a difference in members’ lives since 1960 and will continue to make a difference for many years to come.

I would like to challenge each and every one one of you to become a Del-One advocate. The challenge is to encourage family, friends, co-workers, church members, anyone you know who could benefit from the great products and services we offer to Del-One members.

During the remainder of 2020, my challenge for each of you is to bring at least 2 new members to the Credit Union. You can be assured that Del-One staff will treat them right and they too can realize the many benefits of a credit union by joining Del-One Federal Credit Union.

Ron Baron, MBA President/CEO

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Save Money.

Win Money.

With the WINcentive® Savings Account, every $25 saved earns you one entry into cash prize drawings ranging from $50 to $1,000 dollars.* What kind of account is WINcentive?

WINcentive is a prize-linked savings account that offers you the chance to win cash prizes.

It requires only $5 to open and allows unlimited deposits during the 12-month savings period.

How does it work?

WINcentive Savings offers prize drawing entries in return for each time you increase your savings balance by $25 (up to 4 entries per month). Prize drawings occur monthly, quarterly and annually - so the more you save, the more chances you have to win! Improve your money habits in a whole new way that actually makes saving FUN. Unlike playing the lottery, you don’t lose anything with WINcentive Savings. All of the money you deposit into the account is yours!

What is the minimum balance?

There is a $5 minimum balance requirement to keep the account open.

Can I make withdrawals?

You can make two withdrawals during the 12-month savings period for a $10 and $25 fee respectively. If a third withdrawal occurs, the account will be closed without penalty and all entries earned up until that point are forfeited. If you complete 12 months of savings, you can make one withdrawal in any amount, penalty free.

In partnership with:

Federally Insured by NCUA

Ask your credit union for complete terms, conditions, and official rules. *Prize amounts are estimates and may be changed from time to time. © Copyright Minnesota Credit Union Network, 2017. All rights reserved.

Virtual Annual Meeting Recap

Del-One Federal Credit Union’s Virtual Annual Meeting was held on Tuesday, June 30. Due to COVID-19, members were able to view the annual meeting from the comfort of their homes this year!

Board officers elected included Gerald McNesby, William Pfaffenhauser and Diana Farrell. Del-One appreciates and values the guidance and expertise provided by all of the amazing volunteers that continuously give of their time and talent to serve on the Board of Directors.

Both Board Chair Nancy Shevock and President/CEO Ron Baron spoke of strong growth performance as well as exciting developments at Del-One. Some of these developments include participation in the New Banking Desert Initiative, the relocation of the Wilmington branch to the Courthouse Square building at 600 North King St., and how Del-One has been able to remain available to members while still following State and Federal guidelines to ensure the safety and health of the members and employees during these unprecedented times.

In 2019, Del-One received a 5-star rating from Bauer Financial, its best rating, and has just been recognized as Delaware’s Best Credit Union by Forbes. Two Delaware high school seniors were awarded $2,500 college scholarships, and employees of Del-One were recognized for years of service and accomplishments. HR Generalist Ryan Bowman received the Employee of the Year award, the West Dover Branch received the Branch of the Year award, the Accounting Department received the Department of the Year award, and Director of Branch Operations, Donna Robinson, received the President’s Award for 2019.

A long time Board member and large part of why the credit union is such a success today, Robert Bryce “Breezy” Brown has decided to retire from the Board of Directors after serving for over 35 years.

Breezy was presented with a service award named in his honor. This award will be presented annually to an individual whose loyalty and dedication truly makes a difference for Del-One Federal Credit Union and the Credit Union Movement. This award also includes a $2500 contribution to a non-profit charity of the recipient’s choice. For this year, Breezy chose to have the Food Bank of Delaware receive the contribution.

Celebrating our Team

2019 President’s Award Donna Robinson

Department of the Year - Accounting

(L-R): Tammy Snow, Dyrell Ellwanger, Jennifer “Cissy” Merritt, Kathy Decker, Carolyn Fahringer, Taylor Alexander, Nakia Johnson, Shucca Lawrence, Kellie Rychwalski (CFO), Ron Baron (President/CEO), and Colin Pyle

5 Years Cynthia Evans

Jenna McDuff PolyTech High School

2019 Employee of the Year Ryan Bowman

Branch of the Year - West Dover

(L-R): DaVontay Phillips, Tizarra Gaskins, Christy Johnson, Laura Bennett, Karon Barbour, Breanna Waltz, Amanda Kaye, Cranae Satchell, Noe Ramires-Cruz, and Montrell Henderson-Coleman

Service Awards

10 Years Todd Smith Jennifer “Cissy” Merritt Shucca Lawrence Lisa Connors

15 Years Jane Washington Madalaine Rawding Robin Chapman

Kaitlyn Crowe Dover High School

20 Years Sharon Lewis

Del-One Scholarship Winners - Congrats Grads!

Drive-Thru Shred Event with Lifestyle Document Management, Inc.

Did you de-clutter during quarantine?

Now is the time to safely and securely dispose of those personal documents you didn’t want to just throw away!

In order to maintain social distancing practices, this will be a drive-thru event. All visitors are encouraged to remain in their cars as staff remove shred boxes.

Note: Bring up to 10 file boxes of your personal documents for shredding. Lifestyle Document Management, Inc. will secure files in their locked and alarmed company vehicle, then transport the items to their facility in Georgetown, DE where all documents are thoroughly destroyed.

When: Saturday, August 8, 2020 Time: 9:00 AM to 12:00 PM Where: Del-One Federal Credit Union, West Dover Branch 270 Beiser Blvd., Dover, DE 19904

Although we will not hold our regular Community Appreciation Days this year, we do have plans for some special promotions.

More information coming soon on Auto Loans, Home Equity Lines of Credit, and Equity Builder Mortgage Loans!

Support local

Shout out to some of our community appreciation day partners, We look forward to seeing you next summer!

SHARES Regular Shares $100+ Christmas & Vacation Clubs & WINcentice Savings

Dividend Rate

APYB

0.10%

0.10%

0.20%

Money Market4 $5,000 - 24,999.99 $25,000 - $49,999.99 $50,000 - $99,999.99 $100,000 - $249,999.99 $250,000+

0.20% 0.25% 0.35% 0.40% 0.45%

0.20% 0.25% 0.35% 0.40% 0.45%

Share & I.R.A. Certificates5 6 Month 12 Month 18 Month 24 Month 36 Month 60 Month 26 Month 42 Month

0.25% 0.40% 0.50% 0.60% 0.70% 0.90% 0.60% 0.70%

0.25% 0.40% 0.50% 0.60% 0.70% 0.90% 0.60% 0.70%

Regular & Student Life Checking $500+

0.05%

0.05%

E **Bump Rate

**Bump Rate

Better Life Checking $.01 - $25,000.00 Tier 11 $.01 - $25,000.00 Tier 22 $.01 - $25,000.00 Tier 33 All BLC Tiers $25,000.00+ BLC Qualifications Not Met Business Checking $1,000+

0.50% 1.00% 1.98% 0.10% 0.05%

0.50% 1.00% 2.00% 0.10% 0.05%

0.05%

0.05%

Jumbo Term Share Certificate Rates A.P.R.

A

$100,000 Certificate

E **Bump Rate

**Bump Rate

Signature* VISA®

8.74% 0% Intro

Rates as Low as

C

0.10%

0.20%

6 Month 12 Month 18 Month 24 Month 36 Month 60 Month 26 Month 42 Month

APRA 3.00%

Member Service (24/7) (302) 739-4496 or webmaster@del-one.org

As Low as 9.25% up to 15.25%

0.10%

I.R.A. Shares

Term

Important Information

LOANS Share Secured Current Share Rate Plus

0.35% 0.50% 0.60% 0.70% 0.80% 1.00% 0.70% 0.80%

A.P.Y.

B

0.35% 0.50% 0.60% 0.70% 0.80% 1.00% 0.70% 0.80%

NMLS#543572 Effective 7/15/20.

Rates subject to change. Early withdrawal penalties may apply. Rates accurate as of above listed date.

Other terms and rates available.

Members may contact any CU staff member for further information on applicable fees and terms.

New Vehicle*6 Rates as Low as Used Vehicle*7 Rates as Low as New Motorcycle* Rates as Low as Used Motorcycle* Rates as Low as New Boat* Rates as Low as Used Boat* Rates as Low as

2.99% 3.99% 5.00% 5.74% 7.25% 7.74%

HOME EQUITY LOANS

LTV < 80%

Line of credit variable rate* Rates as Low as Fixed Rate First Lien*c Rates as Low as

5 Year 10 Year 15 Year 20 Year Fixed Rate Second Lien*c Rates as Low as

3.75%D LTV < 80% 3.99% 3.99% 4.05% 4.10%

5 Year 10 Year 15 Year 20 Year

LTV up to 80% 4.75% 4.85% 5.00% 5.05%

Fixed Rate Second Lien* Rates as Low as

LTV 80% to 95%

5 Year 10 Year 15 Year 20 Year

5.25% 5.50% 5.75% 6.00%

*Rate includes up to .25% discount for having or opening a CU checking account with direct deposit, or a CU checking account with auto pay, not lower than floor rate.

A) A.P.Y.= Annual Percentage Yield B) A.P.R.= Annual Percentage Rate C) Rates may vary based on credit worthiness D) Rates based on the Prime Rate of 4/1/20 E) 26 Month rate is available for existing bump rate certifcates, no new certificates are currently being offered.

1. Pays if member completes at least 10 signature based debit card transactions, has at least $100 monthly direct deposit or current Del One loan balance and receives eStatements.

2. Pays if member completes at least 15 signature based debit card transactions, has at least $500 monthly direct deposit or $5000 aggregate Del One loan balance and receives eStatements.

3. Pays if member completes at least 15 signature based debit card transactions, has at least $500 monthly direct deposit, has at least $100,000 aggregate Del One loan balance OR $100,000 aggregate Del-One share balance and receives eStatements.

4. Minimum balance of $5,000 to avoid fee 5. $500 minimum balance 6. New Vehicles include: Auto, Truck & Van. Rates may vary based on term, down payment, and credit worthiness 7. Used Vehicles include: Auto, Truck & Van. Rates may vary based on term, down payment, and credit worthiness

24/7 Account Access (302) 739-2391 or (800) 308-2020 Loans-by-phone (302) 739-4496 VISA® Phone Numbers (866) 795-1421 for VISA® Credit Cards Lost /Stolen VISA® Customer Service VISA® Fraud VISA® Dispute VISA® PIN Change Internet Address (24/7) www.Del-One.org

Click here for branch locations and hours

Labor Day

Monday, September 7, 2020