Gulf Credit Union - Newsletter 1st Quarter 2019

FIRST QUARTER 2019

CONVENIENCE PERSONAL SERVICE ON-THE-GO OPTIONS

We Have it All! When you become a member at Gulf Credit Union, you access a wide network of professionals ready to help you succeed financially.

• Low auto loan rates • Convenient ATM locations • Affordable personal loan rates • Advice from experienced financial experts • Hassle-free checking and savings plans • Commercial lending

If you live or work in Jefferson, Hardin, or Orange County, you’re eligible for membership at Gulf Credit Union.

Join today and enjoy it all!

Federally Insured by NCUA

HELPING HANDS 4Q WRAP UP........................................ 2 ANNUAL MEETING .............................................................. 3 eALERTS AVAILABLE FROM GCU..................................... 4 DISCLOSURE INFORMATION REQUIRED FOR LLCs AND NONPROFITS ............................................ 5

SCHOLARSHIPS FOR HIGH SCHOOL SENIORS ........... 6 WHAT IS BANK JUGGING?................................................. 7 MEMBER ACCESS TO CREDIT UNION DOCUMENTS .... 7 CASH IN ON THE BENEFITS OF MEMBERSHIP ............ 7 2019 HOLIDAYS .................................................................. 8

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Helping Hands 4Q Wrap Up DURING THE LAST QUARTER OF 2018, OUR VOLUNTEER ORGANIZATION, HELPING HANDS, HOSTED COLLECTION DRIVES THAT BENEFITED A VARIETY OF PROJECTS AND ORGANIZATIONS. COMEBACK COOLER

During the month of September, we donated a “Comeback Cooler” filled with items on behalf of Gulf Credit Union. This cooler was filled with water, snacks and other beverages, and it was distributed to individuals and families who survived Hurricane Florence. Members of our CU family signed and wrote notes on the cooler in hopes of giving these survivors a sense of comfort and hope as they begin to rebuild their homes.

GIFT OF LIFE & THANKSGIVING FOOD DRIVE

In October, we participated in the Gift of Life Color Run in Beaumont.

This non-profit organization is the largest cancer screening and prevention program of its kind between Houston and New Orleans, the Gift of Life has succeeded in raising the awareness levels of several types of cancer. Also, during the month of October, we hosted a Thanksgiving food collection which benefited Community Care Prayer Outreach Center in Nederland.

The items collected were distributed to those in need who live within our surrounding areas.

During the month of November, we participated in “Stockings for Soldiers” in which we filled ten stockings for soldiers who are stationed overseas.

These stockings are part of a collaborative effort in which 14,000 stockings will be distributed to US troops who are serving our nation abroad.

In December, we contributed to the “Senior Angel Tree” at Bonne Vie in Port Arthur. The recipients’ names were chosen and our employees fulfilled their “wish lists” and wrapped their gifts. These gifts were given to the recipients at their annual Christmas Party.

We would like to say a special “thank you” to those who donated their time and/or generosity to any of our events within the past year; we are humbled and honored to be able to give back, not only to those in our communities and to those in need, but to be able to give back to those who are serving our country, as well. On behalf of “Helping Hands”, we wish you the best for the new year!

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Annual Meeting NOMINATING COMMITTEE

Members who are interested in seeking election to serve on the Gulf Credit Union Board of Directors should fit the following profile: • Be a Gulf Credit Union member in good standing; • Be able to dedicate time to credit union business, meetings and projects; • Be willing to serve without pay for the benefit of others; • Be 18 years of age or older.

The Nominating Committee was appointed at the October 25, 2018 Board of Directors meeting. Those serving on this committee are: Carl Duplantis (Chairman) Barry Gorman Libby Arnold Three terms are up for election at the February 2019 Annual Meeting.

If you possess these qualifications and wish to seek election, you will need to submit a Board of Directors application and be nominated from the floor.

The nominating committee respectfully nominates: Camille Jones Robert Adams Johnny Lewallen

To receive a Board of Directors application, or for more information, please contact Kathy Wolford, Executive Assistant, at 5140 W. Parkway, Groves, Texas, or by phone at 409.984.7443.

APPLICATIONS MUST BE RECEIVED IN HAND OR POSTMARKED BY JANUARY 31, 2019.

You’re Invited 2019 Annual Meeting: Tuesday, February 19th 7:00 p.m.

Groves Knights of Columbus Hall 3749 Lincoln Avenue Groves, Texas In order to vote in the election, members must have an account in their own name, social security number, and be at least 16 years of age.

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eAlerts are Available from Gulf Credit Union Internet Banking eAlerts allow you to manage and receive email notifications regarding specific account activity, such as when a balance falls below a limit, or when funds are deposited into your account, etc. You can opt to have these alerts sent to multiple addresses including email and text-bridged addresses supported by your mobile carrier.

To set up an eAlert, you must first update and verify your email address.

If you have any questions, or need any assistance with eAlerts, please call or stop by to speak with one of our member services representatives.

LOAN APPLICATION

You can click New Alert to create a new alert, Edit to edit or Delete to delete an existing alert.

WITHDRAWAL

Through internet banking, you can manage your email address(es) and choose which items are being sent via email. If you are on a computer, click on MENU → SETTINGS → EDIT EMAIL. Following these steps, will give you the option to edit any existing emails already setup or create a new email.

EALERTS BILL PAY

Create eAlert

You can also receive eAlert messages as texts on your phone. To receive these messages, enter your phone number followed by your service provider’s email domain. For example: 4091234567@vtext.com Please contact your mobile service provider regarding any questions concerning your mobile address.

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Once you have an email address set up for eAlerts, you are ready to add a new alert.

Through internet banking, you can create or edit existing eAlerts.

Clicking eAlerts from the menu will give you the option to edit any existing alerts already setup or create a new alert.

Retirement Reception

In the example shown below, this member would like to receive an alert for any deposit made to their checking account.

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The suffix the system will look at to determine if an alert should be sent.

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The type of alert to be sent. Alert options: • current balance • available balance • deposit • loan payment • withdrawal • advance check number Comparison that will be made for suffix and type selected. Available options: • all/any • equal to • greater than or equal to • less than or equal to Numeric value for type and comparison and could be dollar amount, check number, etc.

The language the alert will be sent in.

Email address to send alert to. If email adress does not show in the dropdown list, it will need to be added in account settings.

Invest in Yourself!

Enroll in Gulf Credit Union’s Change Saver program to start saving today.

The change from your electronic debits will be transferred to the savings account of your choice.

Debit transactions: $21.64 Change Saver transfer: $0.36 Total transaction amount: $22.00

Shirley Manuel 42 years

Cindy Winfrey 30 years

We invite you to join us as we celebrate two of our dedicated and long-time employees, Shirley Manuel and Cindy Winfrey, as they embark on their retirement. These two ladies will be missed tremendously, yet we are happy for them as they begin their new chapter in life.

We will be honoring these ladies by hosting a retirement reception from 10:00 am until noon on Thursday, January 31, 2019, at our Groves location.

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Disclosure Information Required For LLCS and Nonprofits 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 discussed at the various types of business structures; now, we will talk about the information required in formation of an LLC (Limited Liability Company).

The information required in corporate formation documents varies from that required for corporations.

The following disclosures are generally required for LLCs: MANAGEMENT STRUCTURE LLCs must typically specify whether the company will be managed by its members (owners) or by managers. When an LLC is managed by members, owners oversee daily business operations. When managed by appointed managers, the LLC resembles a corporation, where business management is the responsibility of the directors and officers rather than the owners (shareholders).

MEMBERS/MANAGERS Many states require the names and addresses of the initial member(s) or manager(s) be set forth in the formation documents.

DISSOLUTION DATE All states allow (but not all require) the LLC to list a dissolution date in the Articles of Organization, dictating the maximum duration of an LLC’s existence. Almost every state allows for perpetual existence.

COMMON INFORMATION REQUIRED FOR NONPROFITS A nonprofit corporation’s Articles of Incorporation or Certificate of Incorporation resemble for-profit Articles of Incorporation, but with a few key differences: • Nonprofits do not issue stock so the nonprofit Articles of Incorporation will not require information on shares of stock or par value.

• Nonprofits must include very specific and detailed business purpose clauses. This information is used by the state to ensure the company fits within the nonprofit guidelines. It is also evaluated by the IRS if the nonprofit applies for federal tax-exempt status.

• The state approved Articles of Incorporation must be provided to the IRS when the nonprofit applies for a federal tax-exempt status.

Next time, we will take a closer look at Post-Incorporation and Compliance Requirements.

IMPORTANT NOTICE: CHANGE IN DRIVE-THRU HOURS OF OPERATION As of JANUARY 1, 2019, OUR DRIVE-THRU HOURS HAVE CHANGED AT OUR BEAUMONT AND BRIDGE CITY LOCATIONS. BEAUMONT AND BRIDGE CITY

• MONDAY - THURSDAY: 8:00 A.M. - 5:00 P.M. • FRIDAY: 8:00 A.M. - 5:30 P.M. • SATURDAY: CLOSED

OUR HOURS OF OPERATION WILL REMAIN THE SAME AT OUR GROVES AND MID COUNTY LOCATIONS. PLEASE REMEMBER TO UTILIZE OUR ACCOUNT SERVICES: DIRECT DEPOSIT, DEBIT CARD AND MOBILE DEPOSIT.

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Attention High School Seniors!

SCHOLARSHIPS ARE AVAILABLE! Education is a smart investment, helping you achieve more in life and increase your knowledge about a wide variety of ideas and facts. Gulf Credit Union is pleased to offer TEN $1,000 scholarships for area students.

Eligible students must be a member of Gulf Credit Union, a high school senior with a grade point average of C or above, and be 19 years of age or younger.

For more information or to obtain a scholarship application, please visit our website at www.gecu.org, or stop by any of our Gulf Credit Union locations.

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

Š2016 CUNA Mutual Group

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

What is Bank Jugging?

The term bank jugging is used to describe suspects who sit in financial institutions parking lots and watch people go in and out. The suspects follow the people they believe are in possession of cash and look for an opportunity to burglarize their vehicles or rob them directly.

What you can do to help avoid becoming a target/victim: • Change your schedule. Example, don’t always make your deposit or withdrawal every Monday at 11:00 am and then go to the gym leaving your money in the car.

• Remove your valuables—including any cash and/or checks.

• Lock your doors.

• Don’t sit in the lobby or parking lot counting your cash before or after your transaction.

• Be aware of your surroundings at all times.

• Watch for vehicles you see in the parking lot that follow you when you leave.

• Notify credit union employees if you suspect anything suspicious.

As with any crime, if you become a victim, please notify law enforcement immediately.

Member Access to Credit Union Documents According to Section 91.315 of the Texas Administrative Code, upon request members of Gulf Credit Union are entitled to review or receive a copy of the most recent version of the following credit union documents: balance sheet and income statement, a summary of the most recent annual audit, written board policy regarding access to the articles of incorporation, bylaws, rules, guidelines, board policies and copies thereof, and Internal Revenue Service Form 990.

Please make requests in writing to: Gulf Credit Union ATTN: Office of the President/CEO PO Box 848, Groves, TX 77619 Or, contact us by phone, 409.963.1191

Cash in on the BENefits of Membership with GCU THE BENEFITS OF CREDIT UNION MEMBERSHIP WILL HAVE YOU SEEING DOLLAR SIGNS. RIGHT NOW, GULF CREDIT UNION MEMBERS CAN GET UP TO $300 IN CASH REWARDS FOR NEW LINES ACTIVATED WITH SPRINT®.

GET YOUR BENS! • •

• •

Up to $300 for new lines activated with Sprint.

Current Sprint customers receive up to $150 in cash rewards for lines transferred into Sprint Credit Union Member Cash Rewards.

Up to $150 in loyalty cash rewards every year for each line activated or transferred.

25% off accessories in store with the Sprint Credit Union Member Cash Rewards Program.

HOW TO GET IT: 1. Become a Sprint customer and mention you’re a credit union member.

2. Register at LoveMyCreditUnion.org/SprintRewards 3. Allow six to eight weeks to see cash rewards directly deposited into your credit union account.

STAY CONNECTED: Visit LoveMyCreditUnion.org/Ben to learn about the BENefits you’ll enjoy with Sprint’s Best Unlimited Plan, now with Hulu!

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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.

VISION STATEMENT

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.

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

GROVES

BEAUMONT

MID COUNTY

BRIDGE CITY

5140 West Parkway • 409.963.1191 2779 Aero Drive • 409.729.8280 LOBBY HOURS

DRIVE-THRU HOURS

info@gecu.org • TOLL

GULF CREDIT UNION BOARD OF DIRECTORS:

NAME

2360 Dowlen Road • 409.860.3600 4721 Hwy. 87 South • 409.735.5156

MONDAY – THURSDAY MONDAY – FRIDAY • 8:30 am – 5:00 pm • 8:00 am – 6:00 pm FRIDAY SATURDAY • 8:30 am – 5:30 pm • 9:00 am – Noon

TERM ENDS

Libby Arnold, Chairwoman 2021

Carl Duplantis, Vice Chairman 2021 Camille Jones, Secretary 2019 Robert Adams, Treasurer 2019 Karen Brown 2020

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MISSION STATEMENT

LOBBY HOURS

2019 HOLIDAYS FEBRUARY:

SEPTEMBER:

Saturday, February 9th

Monday, September 2nd

President’s Day

NOVEMBER:

APRIL:

Thursday, November 28th Friday, November 29th Saturday, November 30th

GCU Staff Training Day Monday, February 18th

Good Friday

Friday, April 19th Saturday, April 20th

Barry Gorman 2020

MAY:

Johnny Lewallen 2019

Monday, May 27th

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DRIVE-THRU HOURS

MONDAY – THURSDAY MONDAY – THURSDAY • 8:30 am – 5:00 pm • 8:00 am – 5:00 pm FRIDAY FRIDAY • 8:30 am – 5:30 pm • 8:00 am – 5:30 pm SATURDAY • CLOSED FREE: 800.448.5328

Memorial Day

JULY:

Independence Day Thursday, July 4th

Labor Day

Thanksgiving

DECEMBER: Christmas

Monday, December 23rd we will operate on our normal operating hours Tuesday, December 24th Wednesday, December 25th