Gulf Credit Union - Fall 2018 Newsletter

THIRD QUARTER 2018

AS LOW AS

APR * FOR 60 MONTHS

+90 DAYS, NO PAY! *APR = Annual Percentage Rate.

Valid for new auto loans of new or used vehicles. Loans must be of new money. Interest will accrue on your loan during the 90-day deferral period. All loans and rates are subject to credit approval and product participation. All rates are subject to change. See credit union for details.

RETIREMENT RECEPTION ……………………………… 2 TRUSTED SERVICE ………………………………………… 3 SYSTEM UPGRADE ………………………………………… 4 E-STATEMENTS ……………………………………………… 5 DISASTER PLANNING ………………………………… 6/7

Federally Insured by NCUA

CORPORATIONS AND LLCs …………………………… 8 SANTA IS COMING! ………………………………………… 9 MAKING A DIFFERENCE ………………………………… 10 SCAMS ………………………………………………………… 11 2018 HOLIDAYS …………………………………………… 12

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Join Us for a Retirement Reception We invite you to join us at our Groves location on Wednesday, October 17, as we honor and celebrate the retirement of six long-time and loyal employees: Debbie Lopez, Jolene Nelson, Wendy Mosely, Jeri Kelley, Elaine Romero and Vickie Hubert. Together, these ladies have served our credit union for over 189 years.

Debbie Lopez

Jolene Nelson

Wendy Mosely

Jeri Kelley

Elaine Romero

Vickie Hubert

44 Years

40 Years

37 Years

We are sad to see them go, but we are excited for them as they begin their new chapter in life.

RETIREMENT RECEPTION

Gulf Credit Union Groves location Wednesday, October 17 2:00 p.m. - 4:00 p.m.

36 Years

18 Years

15 Years

GECU.ORG CONTACT OUR COMMERCIAL LENDING TEAM TODAY!

409.984.7436

Commercial Lending Team

2

Pictured from left to right: Tracy Chesser, Todd Gaudin, and Courtney Lalonde

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Federally Insured by NCUA All loans and rates are subject to credit approval and product participation.

All rates are subject to change. See credit union for details and member eligibility.

GULF CREDIT UNION MEMBERS, CASH IN ON REWARDS FROM LOVE MY CREDIT UNION REWARDS Credit union members can earn $100 for each new line you activate, up to 3 lines, when you switch to Sprint®.

Here’s how it works: Get a $100 cash reward for each new line you activate, up to 3 lines.

Current Sprint customers will receive a $50 cash reward for every line transferred into Sprint Credit Union Member Cash

Rewards.

Plus, get a $50 loyalty cash reward every year for as long as you are a Sprint customer.* Here’s how to sign up for Sprint cash rewards: Become a Sprint customer.

Register at LoveMyCreditUnion.org/SprintRewards or in the Love My Credit Union Rewards® app.

Allow up to six to eight weeks to see cash rewards directly deposited into your credit union account!

Make the switch today and save with the Sprint Credit Union Member Cash Rewards!

The savings don’t end here! Members have saved nearly $2 billion on services they need from partners they trust. The more offers you take advantage of, the more you save.

Save up to $15 on TurboTax Federal online and downloadable tax products.

Get an exclusive smoke communicator and a $100 gift card with a new ADT monitored home security system.

Call 844-703-0123 to activate this special offer.

Earn cash back with Love to Shop at over 1,500 online retailers.

*Limited time offers. Activ. Fee: Up to $30/line. Credit approval req. Cash Rewards Offers: Avail. For eligible credit union members & member employees with qualifying corp. id. (ongoing verification). $100 Cash Reward for new smartphone line active. Up to 3 lines. Req. active. At point of sale. Excludes Ct, MBB devices, tablets, Sprint Phone Connect, upgrades., replacements & parts made between Sprint entities or providers associated with Sprint. Limit one SWP Corp ID per Sprint acct. No add’l. discounts apply. Loyalty Reward: $50/line/yr. Cash Reward up to 3 lines when Sprint acct. remains active and in good standing each yr. Transfer Reward: Members participating in another discount program are eligible for a $50 Cash Reward for up to 3 smartphone lines transferred to Cash Reward program. Deposit: Cash Reward issued by CU Solutions Group. Sprint acct. must remain active and in good standing for 31 days to receive Cash Reward. Allow 6-8 wks. For Cash Reward to be deposited to your Credit Union acct. If the Cash Reward does not appear after 8 wks., visit lovemycreditunion.org/sprintrewards & click on “Cash Rewards Tracker”. Other Terms: Offer/coverage not avail. Everywhere or for all phones/ networks. May not be combinable wit other offers. Offer, terms, restrictions, & options subject to change & may be modified, discontinued, or terminated at any time without notice. Restrictions apply. ©2018 Sprint. All rights reserved. Sprint & the logo are trademarks of Sprint. Other marks are the property of their respective owners.

JOHN PAT WHITE II, CRPC Vice President, Wealth Management Gulf Investment Group OFFICE 409.984.7452 800.448.5328 EXT. 7452

Call Today

john.white@cunamutual.com

for a no-cost, no-obligation appointment.

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor.

CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.

CBSI-1626128.1-1016-1119

©2016 CUNA Mutual Group

Gulf Investment Group Located at: GULF CREDIT UNION 5140 W. Parkway Groves, TX 77619

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Upgrade Coming Soon!

SEPTEMBER 1ST - 3RD: Closed for Implementation of our System Upgrade.

Some big changes are on their way and they will help improve our service to you!

Like all good things, our system upgrade implementation will take some time. When we close at 6:00 p.m. on Friday, August 31, 2018, we will begin working on our operating system conversion and upgrade. During this time, some of our services will be unavailable. However, at the start of business on September 4, 2018, our new system will have advanced and improved technology, exciting new features, as well as improved methods of helping you meet your financial needs.

As the time draws near, we will continue to update you with information in regards to our new system. In the meantime, we ask that you keep an eye out for helpful information on our website, our Facebook page, as well as any other mail outs concerning our transition weekend.

We appreciate you, as well as appreciate your patience as we go through this process. We are excited about our future, as well as to be able to grow with you by offering you the best products and services possible with the latest technology.

Gulf Credit Union: Availability of Products and Services During Our System Upgrade Friday, August 31

Saturday, September 1

Sunday, September 2

Monday, September 3

Tuesday, September 4

Lobby

Open - Normal Hours

Closed

Closed

Closed

Open - Normal Hours

Drive-thru

Open - Normal Hours

Closed

Closed

Closed

Open - Normal Hours

Call Center

Open - Normal Hours

Closed

Closed

Closed

Open - Normal Hours

Home Banking

Unavailable after 6pm

Unavailable

Unavailable

Unavailable

Available

Online Bill Pay

Unavailable

Unavailable

Unavailable

Unavailable

Available

ATM

Available

Available

Available

Available

Available

Debit Card

Available

Available

Available

Available

Available

Credit Card

Available

Available

Available

Available

Available

CAT

Unavailable after 6pm

Unavailable

Unavailable

Unavailable

Available

Mobile Banking

Unavailable after 6pm

Unavailable

Unavailable

Unavailable

Available

Delivery Channel

International Credit Union Day We appreciate you, and we thank you for choosing us to help you fulfill your financial needs. To help us celebrate credit unions, and to help show our gratitude towards you, we would like to invite you to stop by any of our locations to visit with our staff while enjoying cookies and lemonade.

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Thursday, October 18th 11:00 a.m. - 1:00 p.m.

GECU.ORG

or update your information!

Please mail the completed form to: Gulf Credit Union Attn: Marketing Dept.

P.O. Box 848 Groves, TX 77619 Or drop it off at the location nearest you: Groves 5140 W. Parkway Beaumont 2360 Dowlen Road Bridge City 4721 Hwy. 87 S Mid County 2779 Aero Drive, Port Arthur

Federally Insured by NCUA

Cut and return bottom portion

----------------------------------------------------------------------------------

o o

Please sign me up for e-statements.

Please update my email address, home address, and phone numbers.

Name:

Account #:

Home Address: E-Mail: Home Phone #: Work Phone #:

Cell Phone #:

Signature:

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Planning for a

Disaster

In order to help keep things efficient and in a timely manner during natural disasters, we have invested in opportunities and equipment to help us continually serve you. In the event of a mandatory evacuation, we will operate from our offsite disaster recovery center. You will be able to reach us at this location by dialing 800.448.5328.

Once we are allowed back into our local area, and conditions are deemed safe, we will be able to operate from our Groves office with our state-of-the-art generator.

Gulf Credit Union encourages you to utilize your Gulf Credit Union Debit Cards with Rewards, as well as to keep an eye out for the weather conditions, to heed all warnings, advisories and reminders issued by the Emergency Management Coordinators, weather teams and governing authorities. And, for Gulf Credit Union updates, please remember to check our website at www.gecu.org and our Facebook page.

As a reminder for precautionary measures, we have created a chart of suggestions of important documents and steps to take in the event of an evacuation or natural disaster.

Remember to always have a plan of your own and take the appropriate precautionary measures necessary to protect yourself, your property, your pets and your family.

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Secure Important Documents Check Your Supplies

Secure Your Home Shared Branching and Co-op Network Check Local News, Weather, Road Closures and Business Sources Have a Plan

Make sure they are in a dry, safe and easily accessible location.

These documents include: Insurance Documents / Policies, Insurance Agent’s Contact Information, Health and Medical Documents, Financial Information, Legal Documents, Photos of Contents and Property, Home Inventory List and Etc.

These Include: Cash, Checks, Debit and Credit Cards; Water, Non-Perishable Food Items, Medication, Fuel, First Aid Kit, Bug Spray, Sunscreen, Batteries, Flashlights, Portable Radio, Toiletries, Chargers for Electronic Devices and Etc. Make sure your vehicle is running properly and able to sit in traffic for long periods at a time.

Be sure your drains, ditches and yards are clear of any debris before the storm arrives.

Secure all windows and entry points to your home and outside buildings.

Board up windows, place sandbags around your home and outside building structures.

Take the appropriate measures for your swimming pool.

Secure any loose patio furniture or other items that may blow away or wash away in a storm.

If flooding begins, turn off your electricity at the main breaker.

Take any other precautionary measures that you feel are appropriate.

Visit our website at www.gecu.org or our mobile app to locate an ATM and/or Shared Branching Location nearest you.

Visit us at www.gecu.org or our Facebook Page for opening/closing updates.

For highway closures: drivetexas.org.

Weather Updates: noaa.gov, weatherunderground.com, local news media stations’ websites and social media pages.

Local Conditions: Local Fire and Police Departments’ Facebook Pages and other social media outlets.

Watch and Listen for Weather Advisories and any Evacuation Declarations.

Have a destination in mind.

Notify a trusted friend/family member of your destination plans, as well as of your arrival.

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DISCLOSURE INFORMATION REQUIRED FOR CORPORATIONS & LLCS

Before starting any business, one of the first questions you will need to ask yourself is, “What is the best business structure for me?” You may operate your business under any one of several business structures. Each type of business structure has certain advantages and disadvantages that should be considered. In previous newsletters, we have looked at the various types of business structures, so now we will talk about the information required in formation of a corporation.

to establish a low par value for shares, as a number of states use par value to calculate a corporation’s franchise tax obligations.

The information required in corporate formation documents varies from that required for LLCs. The following disclosures are generally required for corporations:

Preferred shares If a corporation plans to authorize both common and preferred shares, this information, along with any information on voting rights, must be included in the Articles of Incorporation. Preferred shares typically provide those shareholders preferential payments of dividends or distribution of assets should the company end operations.

Many small business owners choose to only authorize shares of common stock. For details on preferred shares and voting rights, talk with an attorney.

Number of authorized shares of stock Corporations must set forth the number of shares of stock they wish to authorize and the par value, if any, associated with those shares. A corporation needs not to issue the total number of authorized shares. Some opt to withhold unissued shares in order to add additional owners at a later date or to increase the ownership percentage for a current shareholder.

Directors Many states require the names and addresses of the corporation’s initial directors be included in the incorporation documents. Directors are responsible for overseeing and directing corporate affairs, including making major corporate decisions. They are not responsible for the daily business activities, attended to by the officers. Directors are elected by the shareholders and are responsible for appointing officers.

Share par value Par value is the minimum stated value of a share of stock. It typically doesn’t correlate to the actual value of a share. Common par values are $0.01 or no par. The actual value is fair market value, or what someone is willing to pay for a share of stock. For public companies, actual value is determined by the price investors are willing to pay for each share on the national exchange. For private companies, the actual value of a share is typically determined by the overall value of the corporation or the book value. It often makes sense

Officers Some states require names and addresses of officers to be included in the incorporation documents. Officers are responsible for the day-to-day activities of the corporation.

Common officer titles include president, vice president, secretary and treasurer. In most states, one person can fulfill all roles.

Next time, we will take a closer look at the information required for disclosures for LLCs and Non-Profits.

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Santa Claus is Coming to Town!

Join us and stop by for a visit with Santa and Mrs. Claus!

Santa and Mrs. Claus will be at the following locations from 3:00 p.m. until 5:00 p.m. on the following days: Bridge City: Thursday, November 29th Groves: Friday, November 30th Beaumont: Thursday, December 6th Mid County: Friday, December 7th Each child who visits with Santa and Mrs. Claus will receive a small gift.

Santa and Mrs. Claus are very busy during this time of year; to be fair to each child/family in attendance and to ensure there is ample time to visit, there is a limit of one photo per family.

? s e s n e ExpWe Have y! d e m e R e Th

Personal Loans as low as

8.9% APR

*

*APR = Annual Percentage Rate.

All loans and rates are subject to credit approval.

Rates are subject to change without notice. See credit union for details. Insured by NCUA.

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We’re Making A Difference!

COMPLAINT NOTICE

If you have a problem with the services provided by this credit union, please contact us at:

Gulf Credit Union Helping Hands was recently presented an award by the Southeast Texas Food Bank at their Volunteer Appreciation Banquet.

This award recognizes over 80 hours worked at the food bank by GCU Helping Hands volunteers in 2017. We appreciate the opportunity to give back to our community and thank the Southeast Texas Food Bank for all of their efforts.

Thanks to our GCU Helping Hands volunteers, we’re making a difference!

GULF CREDIT UNION PO Box 848 • Groves TX, 77619 409.963.1191 or 800.448.5328 info@gecu.org The credit union is incorporated under the laws of the State of Texas

Pictured from left to right: Amber Hicks, Holly Hebert, Ron Burkhalter, Nancy Bernard and Tracy Chesser

and under state law is subject to regulatory oversight by the Texas Credit Union Department. If any dispute is not resolved to your satisfaction, you may also file a complaint against the credit union by contacting the Texas Credit Union Department through one of the means indicated below: In Person or U. S. Mail: 914 East Anderson Lane Austin, Texas 78752-1699 Telephone: 512.837.9236 Fax: 512.832.0278 Website: www.cud.texas.gov

Pictured from left to right: Holly Hebert and Tracy Chesser

Email: complaints@cud.texas.gov

PROTECT YOUR KIDS FROM ZIKA 1

HELP THEM PICK OUT LOOSE LONG SLEEVES AND PANTS.

2

APPLY BUG SPRAY OVER SUNSCREEN.

3

PLAY INDOORS WHEN POSSIBLE.

TexasZika.org 10 WWW.GECU.ORG

COMMON ONLINE LOVE INTERESTS

While plenty of successful relationships begin online, scammers also use online dating sites, apps, and chat rooms to trick you into sending them money. These imposters create fake profiles to build online relationships, and eventually convince people to send money in the name of love. Some even make wedding plans before disappearing with the money.

It’s a big problem: reports to the FBI about online romance scams tripled between 2012 and 2016, and imposter scams were among the top reports to the Federal Trade Commission for both the general population and the military community.

These scams can take a military angle with imposters stealing service members’ photos to create phony profiles. They might claim to be service members who can’t get into their accounts overseas or who need money fast. The first sign of a scam is an online love interest who asks for money, but the Army’s Criminal Investigative Service (CIS) says that the military doesn’t charge service members to go on leave, get married, communicate with their family, go online, or feed and house themselves on deployment. We have also heard of scammers re-using service members’ photos again and again, so it can be helpful to do some online research on the love interest’s name, photos, and details to check the story out.

If an online love interest asks you for money: • Slow down and talk to someone you trust. These scammers want to rush you, often professing love right away; or pressuring you to move your conversation off the dating site.

• Never wire money, put money on a gift card or cash reload card, or send cash to an online love interest. You won’t get it back.

• If you sent money to a scammer, contact the company you used to send the money (wire transfer service, gift card company, or cash reload card company) and tell them it was a fraudulent transaction. Ask to have the transaction reversed if possible.

• Report your experience to the dating site and to the FTC.

FAKE EMERGENCIES

“I lost my wallet and ID. I’m stranded — please wire money.”

“Your grandson is being held in jail. He needs bail money right away.”

Scammers try to trick you into thinking a loved one is in trouble. They call, text, email, or send messages on social media about a supposed emergency with a family member or friend. They ask you to send money immediately. To make their story seem real, they may claim to be an authority figure, like a lawyer or police officer; they may have or guess at facts about your loved one. These imposters may insist that you keep quiet about their demand for money to keep you from checking out their story and identifying them as imposters. But no matter how real or urgent this seems — it’s a scam.

If you get a call or message like this, what should you do?

• Check it out before you act. Look up that friend or family’s phone number yourself. Call them or another family member to see what’s happening, even if the person who contacted you told you not to.

• Don’t pay. Don’t wire money, send a check, overnight a money order, or pay with a gift card or cash reload card. Anyone who demands payment in these ways is always, always, always a scammer. These payment methods are like giving cash, and nearly untraceable, unless you act almost immediately.

• If you sent money to a family emergency scammer, contact the company you used to send the money (wire transfer service, bank, gift card company, or cash reload card company) and tell them it was a fraudulent transaction. Ask to have the transaction reversed, if possible.

• Report the message at FTC.gov/complaint

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GULF CREDIT UNION P.O. BOX 848 GROVES, TX 77619

GULF CREDIT UNION IS FEDERALLY INSURED BY THE NATIONAL CREDIT UNION ADMINISTRATION. We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act. *APR = Annual Percentage Rate. All loans and rates are subject to credit approval. Rates are subject to change without notice.

HOURS OF OPERATION

LOBBY Monday – Thursday • 8:30 a.m. – 5 p.m. | Friday • 8:30 a.m. – 5:30 p.m.

DRIVE-THRU Monday – Friday • 8 a.m. – 6 p.m. | Saturday • 9 a.m. – 12 p.m.

VISION STATEMENT

MISSION STATEMENT

GROVES

BRIDGE CITY

BEAUMONT

MID COUNTY

Gulf Credit Union’s vision is to “create a relationship” with members. Our vision is met by matching our member’s need with the right product.

5140 West Parkway • 409.963.1191

From generation to generation, Gulf Credit Union is your partner in fulfilling your financial dreams.

4721 Hwy. 87 South • 409.735.5156

2360 Dowlen Road • 409.860.3600

2779 Aero Drive • 409.729.8280

info@gecu.org • TOLL FREE: 800.448.5328

GULF CREDIT UNION BOARD OF DIRECTORS:

NAME

TERM ENDS

Libby Arnold, Chairwoman 2021 Carl Duplantis, Vice Chairman 2021

Labor Day

Monday, September 3rd

Camille Jones, Secretary 2019

NOVEMBER:

Robert Adams, Treasurer 2019

Thursday - Saturday, November 22nd - 24th

Thanksgiving Holidays

Karen Brown 2020

DECEMBER:

Barry Gorman 2020

Monday - Tuesday, December 24th - 25th

Johnny Lewallen 2019 Like us on Facebook: www.facebook.com/Gulf Credit Union

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SEPTEMBER:

Christmas Holidays

SEPTEMBER 1ST - 3RD: Closed for Implementation of our System Upgrade.