Second Quarter 2024 Newsletter

A Letter From The President

As we reflect on our accomplishments during 2023, we feel good about what we accomplished throughout the year. In a year that presented many challenges such as rising interest rates, inflation, a banking crisis, the rapid advancement of Artificial Intelligence (AI) and a drought that affected most of our state, we were able to keep moving forward with our business initiatives established in our strategic plan. This past year we completed our branch enhancements that include virtual suites in all locations. Our video banking platform, Gulf Anywhere, is thriving as we are more accessible to our membership wherever you are. The construction process of our new Administration building is coming to an end, and we should be operating from that location by the end of the second quarter. We contributed $1.2 M to our capital account and have a healthy net worth ratio of 10.22%. As our member-owners, you are integral to our credit union family, and we are sincerely grateful that you've chosen Gulf Credit Union as your financial partner. We wish you and your family a healthy and prosperous 2024.

ANNUAL MEETING | Election Results

Our Annual Meeting was held February 20, 2024 at the Groves location. This year we had two board of director positions up for election and we are pleased to announce the results, Logan Delcambre and Joshua Lege were re-elected to the board of directors.

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

Ask a Member Service Representative for details!

Just 1 donation can save up to 3 lives.

If you would like more information on how or where to donate, please contact LifeShare Blood Center at 800.256.5433. Gulf Credit Union

Tuesday, July 16 10:00 am -2:00 pm

Thursday, October 3 10:00 am -2:00 pm

Todd Gaudin President/CEO

Logan Delcambre Secretary/Treasurer

Joshua Lege Board Member

April is Financial Literacy Month

We are excited to announce the establishment of our newly formed Community Experience Department, dedicated to promoting financial literacy awareness and community engagement. Led by Sue Lane, our Assistant Vice President of Marketing, our esteemed team includes Dr. Belinda George as the Community Experience Director, Greta Smith as the Community Experience Liaison, and Holly Hebert as the Community Engagement Liaison. Their primary focus is to raise awareness about financial literacy, promote our products and services, and empower individuals in our community to make informed financial decisions that lead to long-term stability and prosperity.

Do you own your home? Are you overwhelmed with high interest debt?

Do you feel like you’re drowning in debt? Do

feel like there’s no way out?

Key Highlights

FINANCIAL LITERACY BINGO

Experience a fun twist on financial education with our interactive Financial Literacy Bingo game. Test your knowledge, learn key concepts, and win exciting prizes while having a great time!

COMMUNITY INVOLVEMENT

At Gulf Credit Union, we are committed to empowering our community through financial education initiatives. Engage with like-minded individuals and enhance your understanding of personal finance in a supportive environment.

EXPERT GUIDANCE

Benefit from the expertise of our certified educators who will guide you through essential financial concepts and strategies. Learn practical tips for managing finances effectively and making informed decisions for a secure future.

BANZAI

Explore innovative resources such as Banzai, a leading online financial education platform designed to make learning about money management engaging and accessible for all ages. Discover how Banzai can support your journey towards financial literacy.

ACH Origination/External Transfers

ACH Origination allows our members to set up automatic transfers from other institutions directly to Gulf Credit Union as a one-time transfer or recurring transfer. By using this free service, members can avoid the hassles of manually using their debit cards every month, or manual cash withdrawals and deposits at varying institutions to make loan payments.

It can also be used to set up recurring payments to other financial institutions, directly from your Gulf Credit Union account.

Key benefits of ACH Origination:

CONVENIENT

Eliminate the need for manual intervention by setting up recurring external transfers. EASY

Using the GCU app, input the sending and receiving account information, along with the amount and frequency of payment. A form is available upon request.

SECURE

Payments are made electronically, minimizing the risk of loss or unauthorized access to member accounts.

FLEXIBLE

Easily manage and modify external transfer settings to accommodate changes in billing amounts or payment schedules. FREE

This service is free to use, for all Gulf Credit Union members.

Initial account verification required before completing external transfers. If you have any questions or need assistance, please speak with our Member Services or Virtual Services team for dedicated support.

TRAVEL NOTICE

When making your check list for travel, remember this one important step!

Place a travel notice on your debit card.

• Traveling can be an exciting and rewarding experience, but it also comes with its share of potential pitfalls - especially when it comes to finances. One important step you can take to protect your financial security while traveling is to place a travel notice on your debit card.

• By notifying Gulf Credit Union of your travel plans, you can help prevent your debit card transactions from being flagged as suspicious activity. This can save you from the inconvenience of having your card temporarily blocked while away from home. Additionally, having a travel notice on your card can help minimize the risk of unauthorized transactions, as it enables the credit union to monitor your account more effectively for any unusual activity.

• To ensure a smooth and stress-free travel experience, we recommend contacting Gulf Credit Union before your trip to provide us with your itinerary. Simply call us at 409-963-1191 or visit a branch to set up a travel notice on your debit card. Taking this simple precaution can go a long way in safeguarding your financial well-being while you explore the world.

Our 1st Time Auto Buyer program is designed to help our members that have little to no car buying experience.

To qualify, you just need to meet the following criteria:

• 6 month employment history

• Maximum finance amount of $25,000

• 10% cash down or qualified co-borrower

• No previous auto history and no derogatory credit

You may be eligible to refinance at a lower rate after one year of timely payments!

Contact our loan department for more details. Subject to credit approval. Rates and terms may vary.

Congratulations to Susan Beadle on her retirement. Susan was a part of the Gulf Credit Union family for 36 years and will be missed by all. Susan was a member of the Lending Department for many years and a Loan Officer in the call center at the time of retirement. We wish Susan a wonderful retirement and all the happiness retirement brings!

Congratulations, Susan!

We love you and we miss you!