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•• Volunteer Profiles

July/August 2010 • Vol 45 • No. 4

Page 2 •• ‘Opt-In’ Overdraft

Protection Rules

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•• Upcoming FREE Seminars •• When Should You Retire?

Page 4 •• Community Involvement

Published bi-monthly by ORNL Federal Credit Union

Your SMART Loan Resource


ou’ve trusted us with your financial needs for over 60 years – from basic savings accounts to retirement planning. But did you know that ORNL Federal Credit Union is also your one-stop resource for your lending needs? We understand that you need smart solutions to best fit your individual situation and when it comes to borrowing smart, go no further than ORNL Federal Credit Union.

Start School SMART Personal Loan With rates as low as 8.99% APR*, this unsecured loan is the smart choice for your back to school expenses. From tuition and books to supplies and clothing, start the school year off right! Need funds for other expenses, too? No worries! Whatever your needs may be, the Start School SMART Personal Loan is easy, quick, and SMART! When you enroll in both Cyberbranch home banking and e-Statements, your new school schedule just got a whole lot easier – take advantage of both to get this super low rate!

Drive SMART Get rolling in some new wheels with an ORNL Federal Credit Union auto, boat, or RV loan! With our exclusive On-the-Spot Financing available at most area dealers, or even through

our preapproved VIP Loan, applying has never been easier. Insist on ORNL Federal Credit Union financing – with rates as low as 3.24% APR*, there’s never been a better time to get rolling in some new wheels!

Live SMART Take advantage of a buyer’s market and historically low interest rates by choosing ORNL Federal Credit Union for your mortgage needs. Whether it’s for a new purchase, a refinance, vacant land, or even tapping into home equity, we have the perfect mortgage solution for you and your family! And now, with our newly available FHA loans, buyers can still achieve their dream of home ownership without the common worries of imperfect credit or a hefty down payment. With the service you’ve come to expect – and deserve – and competitive rates and custom program options available to meet your needs, contact ORNL Federal Credit Union today. Call us at 865-688-9555 or at 800-6765328, click 24/7 at, or visit any of our convenient branch locations. *New money only: Cyberbranch home banking and e-Statements enrollment required. Actual rate may vary based on credit worthiness and loan criteria. Loan terms up to 36 months. See credit union for details.

Statement Information Changes


he Truth-in-Lending Act and new Regulation Z amendments specifically address statement format and informational changes for credit card accounts and line of credit loans. Revisions to information on periodic statements for these loans will make them more understandable by altering format requirements to include: • Interest charges and fees must be grouped separately with a monthly total for each. • Interest charges must be itemized according to the type of transaction (purchases, cash advances, etc.). • Year-to-date totals for both fees and interest charges must be separated.

Credit union members will notice changes in July account statements to include additional information regarding open end loans. This information will detail the new loan balance, minimum payment amount, payment due date, and other data pertaining to late payments. Should you have any questions after receiving your statement in August, please contact us at 865-688-9555 or 800-676-5328 or visit any branch office.

Feast With the Beasts & Great Knoxville Rubber Duck Race


Start School

SMART with ORNL Federal Credit Union

99% 8.

Unsecured Rates As Low As


Effective st August 21 ORNL Federal Credit Union will no longer issue VisaTM gift cards

All offices of ORNL Federal Credit Union will be closed Monday, September 6th, in observance of Labor Day.



s a member-owned financial cooperative, your credit union’s Board of Directors and committees consist of unpaid volunteers who work for YOU – our valued credit union member. Unlike a bank, whose board of directors is composed

of paid individuals with a vested interest in business decisions, ORNL Federal Credit Union has a Board of Directors composed of fellow members committed to your best interests – and it’s been this way for over 60 years! ORNL Federal Credit Union proudly

highlights two members of the Board of Directors and/ or Supervisory Committee. These volunteers are the heart of ORNL Federal Credit Union and devote hours each month for the betterment of the credit union and its members.

Featured Volunteers

Marcy Catron

Serves on ORNL Federal Credit Union’s Board of Directors Serving as a Board member since 1991 and as Treasurer since 1999, Marcy Catron has dutifully served on various committees regarding internal policy, scholarship, retirement and pension, training, and asset liability. An ORNL FCU member for over twenty years, she embraced credit union service after discussing the pivotal role with coworker and former Board Chairman Ben Smith. Marcy is proud to serve her credit union and enjoys fulfilling a role that permits the management team to be innovative with both employee and member service. It’s particularly enjoyable to see what other credit unions throughout North America are doing and seeing ORNL FCU at the forefront. She has received certification from the Credit Union Executive Society. Marcy earned a Bachelor’s Degree and Master of Accountancy from UT Knoxville and has vast experience in public accounting, banking, construction, and government. She is retired from Oak Ridge National Laboratory and is currently working under contract as an auditor with the Department of Energy. Married to Dr. Donald Gibson Catron, Sr., Marcy has two sons, Kevin and Derek Bryant, and four grandchildren.

Roane County High School. James is an avid boater and is proud of his 400-mile one way trip to Decatur, Serves on ORNL Federal Credit Union’s Board of Directors Alabama, on the Tennessee River. In his spare time, he Serving his second three- even restores classic cabin cruisers with his current year term on the Board project being a 35 year old Marinette – and yes, he of Directors, James Payne has been part of the Vol Navy from time to time! Other dually serves as the Chair interests include enjoying live music in the Downtown for the ORNL Federal Knoxville community. He lives in Kingston with his Credit Union Legislative Yorkie named Dagwood. Committee. He has been a credit union member for 36 years and Serves on ORNL Federal Credit Union’s Supervisory Committee has completed the Credit Cindy Mayfield is in Union Executive Society her seventh year of serDirector Education Center Series. Current profesvice on ORNL Federal sional duties include serving as the Instrumentation Credit Union’s Supervisory Complex Manager at Oak Ridge National Laboratory Committee. Honors in– his employer of 19 years. He earned a Bachelor of clude designations as a Science Degree in Organizational Management from Certified Internal Auditor, Tusculum College and an Associate of Science Degree Certified Fraud Examiner, in Industrial Technology from Greenville Technical and Certified Information College. Certifications include a Six Sigma Green Systems Auditor. Cindy Belt from the American Society of Quality and he is a has been employed at Oak Certified Facilities Management Administrator (FMA), Ridge National Laboratory for 2 years and currently Systems Maintenance Administrator (SMA), and a serves as the Manager of the Diversity and International Systems Maintenance Technician (SMT) through the Office within the Human Resource Directorate. Building Owners and Managers Institute (BOMI). Other volunteer activities include a current posiOther volunteer activities include a current term on the tion on the board for the Ronald McDonald House of advisory board of the Tennessee Labor Management Knoxville and service to Friends of Great Smoky Committee at Tennessee State and his role as United Mountains National Park. She has two sons, Andrew Way coordinator for his division in 2009. James has two and Taylor, and enjoys hiking, biking, volleyball, and sons – Phillip who is a senior at UT-Knoxville majoring gardening with her husband, David. in business and Nathan who is a recent graduate of

James Payne

Cindy Mayfield

New ‘Opt-In’ Overdraft Protection Rules


f you have used ORNL Federal Credit Union’s Courtesy Overdraft service at least once this calendar year, you should have received an opt-in form via U.S. postal mail within the last month. It is very important that you sign and return this form in the enclosed postage paid envelope in order to continue your Courtesy Overdraft privileges for ATM and one-time debit card transactions. Should you choose not to return this opt-in form, ORNL Federal Credit Union


must discontinue overdraft privileges for ATM and one-time debit card transactions effective August 15th due to new government regulations. In addition, if you have Courtesy Overdraft but have not used this service at least once during 2010, this privilege will be discontinued effective August 15th. To continue the added privilege of Courtesy Overdraft protection, please contact us prior to August 15th and ask to opt-in. Or, to learn more about Courtesy Overdraft

protection, please call us at 865-688-9555 or 1-800-676-5328, visit us 24/7 at, or visit your nearest ORNL Federal Credit Union branch location.

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FREE UPCOMING SEMINARS Thursday, July 29th Back to School On A Budget

Tuesday, August 17th CU @ the UC: Financial U

6 p.m. • ORNL Federal Credit Union Main Office

4 p.m. • University of Tennessee - Knoxville, University Center

Better prepare for back to school expenses and other kid-related costs with this informal session. Sometimes it takes just a few smart tools and everyday tips to maximize every penny. Learn a few things and even share your own tips with others! RSVP to Leslie Daugherty at 865-425-2710 or email

What do you wish someone had told you about money during your college years? With this introduction to paving the road for financial success, topics will include budgeting, credit cards, student loans, credit ratings, and other money matters affecting the college student today and beyond. RSVP to Leslie Daugherty at 865-425-2710 or email

Sign up for a FREE educational workshop today and learn about the smart tools & resources you need to achieve your financial goals!

When Should You Retire?


A Message From ORNL Investment Services

h, what a difference a year (or

words, it seems age, rather than assets, is the

two) makes! The age you choose

normal gauge used to determine a retirement

to retire can make or break your


best-laid plans. Why? Because this decision affects your finances in two ways.

First, by

waiting a year, you delay spending your retirement nest egg by one year. Second, not only do you delay spending your retirement savings, but you gain another year to put more money away for your retirement.

Do Your Numbers Add Up? You can approach retirement with a greater peace of mind with a thorough retirement income analysis made available to all of our members through ORNL Investment Service’s program. This analysis will walk you through the many risks retirees face including longevity

How Do Most People Decide?

(living longer than planned), inflation, market

Recent industry research found the usual

volatility, low interest rates and healthcare

reasons people choose a retirement date

costs. Don’t make the mistake of just making

include: the thought that they had reached

an intuitive decision about retirement. By

a socially acceptable age to retire, had

combining your intuition, with a thorough

unpleasant experiences at work, were offered

look at your “numbers,” you can approach

generous retirement packages, or they had

retirement with a game plan, not worries. Call

reached the age their parents retired. While

our office at (865) 425-2730 to set up your

these emotional reasons are very real, this

complementary retirement analysis today

study shows that very few people select a

with one of our representatives.

retirement date after they’ve determined

Representatives are registered, securities are sold, and investment advisory

(through a financial analysis) that they have

FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage

accumulated enough savings to sustain them through retirement.

In other

services offered through CUNA Brokerage Services, Inc. (CBSI), member Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members.


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3 7849

Community Involvement



P.O. Box 365 Oak Ridge, TN 37831






Aspire To More & Achieve Your Financial Goals

Look for an all new beginning August 2nd


or the fifth consecutive year, we’re the presenting sponsor of the Knoxville Zoo’s largest fundraiser – Feast with the Beasts! Scheduled for Saturday, August 14th, from 7 p.m. – 11 p.m., the event provides an evening filled with live entertainment while allowing you to sample food from the area’s finest restaurants. Tickets are on sale at all ORNL Federal Credit Union branches for $60 each and will be $70 at the door the day of the event. A highly anticipated area attraction, Feast with the Beasts gives you the opportunity to support the Knoxville Zoo’s mission of celebrating the wonders of the natural world. Ask about a $5 discount for credit union members! LOCATIONS

Anderson County Oak Ridge Main Office 221 S. Rutgers Avenue



As the official credit union sponsor of the Great Knoxville Rubber Duck Race, we’ll ruffle some duck feathers as we strive to exceed the all-time record of 10,000 duck adoptions! With all proceeds benefitting the Boys and Girls Club of the Tennessee Valley, the 2010 Great Knoxville Rubber Duck Race will be Saturday, August 21st, at noon. Join the fun at Volunteer Landing and watch thousands of ducks race their way down the Tennessee River. Several lucky ducks will win some fabulous prizes, including the $10,000 grand prize! Duck adoptions will be available at all ORNL Federal Credit Union branch locations beginning July 16th.

Mason Oakes, Chair Herb Debban, Vice-Chair Marcella C. Catron, Treasurer Jama Hill, Secretary Leigha Edwards Randy Gorman Wanda McCrosky Samuel P. McKenzie James E. Payne

Oak Ridge Wal-Mart 373 S. Illinois Avenue Clinton 1117 N. Charles Seivers Blvd. Clinton Food City 507 S. Charles Seivers Blvd.

Knox County North Knoxville 808 Victor Drive

West Knoxville 8721 Kingston Pike Middlebrook Pike Food City 9565 Middlebrook Pike East Knoxville 3634 East Magnolia

Bearden 5505 Kingston Pike

Roane County

Kingston 1204 N. Kentucky Street Oak Ridge National Lab P.O. Box 365 Rockwood Wal-Mart 1102 N. Gateway Avenue

Loudon County

Lenoir City 895 Highway 321 North Lenoir City Food City 300 Market Drive Loudon 2859 Highway 72

Campbell County LaFollette 2229 Jacksboro Pike 423-562-8948

Mary Helen Rose, Recording Secretary

South Knoxville 7325 Chapman Highway

Supervisory Committee

Farragut 11405 Municipal Center Drive

Alcoa 103 Hamilton Crossing Drive

Blount County

Harvey Gray, Chair Cindy Mayfield , Vice-Chair Vickie Caughron, Secretary Joel E. Pearman David Watkins

Fountain City 5208 N. Broadway

Maryville Wal-Mart 2410 U.S. Hwy. 411 South

Karns 7228 Oak Ridge Highway

Monroe County


Farragut Kroger 189 Brooklawn Street

Halls 4510 Emory Road

John D. McKittrick

Powell Kroger 6702 Clinton Highway

TELEPHONE: 865-688-9555* Or toll-free: 1-800-676-5328

Millertown Pike 5409 Millertown Pike

*All locations except Madisonville, Morristown, and LaFollette


Morrell Road Food City 284 Morrell Road Northshore Drive Kroger 9501 Northshore Drive

Madisonville 4201 Hwy. 411 423-442-6061

Hamblen County

Morristown 1730 W. Andrew Johnson Hwy. 423-581-9800

Sevier County

Sevierville 502 Dolly Parton Parkway

Union County

Maynardville Food City 4344 Maynardville Hwy.

UPDATE is published bi-monthly by ORNL Federal Credit Union as an information service to its members. Questions, comments, and suggestions should be sent to ORNL Federal Credit Union UPDATE, P.O. Box 365, Oak Ridge, TN 37831.

Ornl update 2010 vol 45 no 4  
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