Issuu

THE SWACU NEWSLETTER SPRING 2022 2021 TOTAL LOANS

$482,669,795

An important privilege and responsibility of the Credit Union industry is to give back to our members and community. Credit unions traditionally give back to their members in the form of lower loan rates and higher dividend rates. You are probably familiar with SWACU’s above industry average interest rate on our reward checking accounts but may not know that we help countless members increase their credit scores with debt restructuring loans and credit counseling each year. Higher credit scores translate to lower interest rates on loans, putting real dollars back into our members’ pockets. SWACU also has an annual college scholarship fund, which allows members to apply for one of three scholarships we award each year.

TOTAL DEPOSITS

$717,123,673 TOTAL ASSETS

$796,534,808 TOTAL MEMBERS

54,765

We also support organizations that help those living and working in our community. In March we gave the Salvation Army a $50,000 donation to further their work of fighting poverty, addiction, and homelessness in counties around the DFW area. (SEE PAGE 4 FOR PHOTO AND DETAILS). We recognize that we are a credit union with members all over the country and our membership has family all over the world. As such we strive to not limit our impact to our immediate neighborhood. We also invest in Credit Union sponsored organizations around the country and around the world (Yes! Credit Unions are international). Our contributions, along with others, help during difficult times such as natural disasters, economic hardships and even war. Contributing to these causes is our honor as a financial institution. Recently, we donated to The Ukrainian Credit Union Displacement Fund, created by the Worldwide Foundation for Credit Unions in partnership with World Council of Credit Unions, to support displaced credit union members and staff in war-torn Ukraine.

At SWACU, we aren’t just an ordinary financial services provider. We are YOUR Credit Union, owned and governed by our members to serve our membership. We care about you, and your community is our community. We invest in PEOPLE.

FINANCIALS As of February 28, 2022

IN THIS ISSUE:

• Enhancements for • • • • •

Core Conversion SEG - Select Employee Group Membership Home Buyer Webinar Shred Day! Train With Us - UFC New Month, New Money Habits • Daniel J. Kimber Scholarship Update • Donations for Salvation Army • CO-OP Shared Branching • Now Hiring

SEG

MEMBERSHIP

If you know someone who owns or works for a company or business located within 25 miles of one of our branches, their company can apply to become a SWACU Select Employee Group (SEG) and be able to offer the benefits of SWACU to their employees and their families. Simply have them go to swacu.org/join, then click “Company Membership,” then they just follow the instructions and our Business Development Rep will be in contact with them.

Enhancements for Core Conversion The wait is over! We are excited to announce that we’ve completed our core operating system upgrade and we look forward to providing you with more capabilities, offerings, and a better banking experience.

TUOYO ASAGBA

BUSINESS DEVELOPMENT REPRESENTATIVE TASAGBA@SWACU.ORG

Here’s what the new Core Operating System will offer: • SWACU credit card holders can now perform cash advances from their Visa® credit card to a SWACU savings and/or checking account

HOME BUYER WEBINAR

• SWACU Mortgage Holders can easily access their mortgage accounts via home banking

THINKING ABOUT PURCHASING A HOME?

• SWACU Monthly and Quarterly Statements (beginning May 1st) will have a new design and will be easier to read. • When you log in to home or mobile banking for the first time, you may be required to answer your security questions. This feature is per device (phone, PC, laptop, tablets). So, you may have to answer them on each device you use to log into home/mobile banking.

THURSDAY

MAY

12:00 PM CT

Join Us for a FREE Home Buyer Webinar on Thursday, May 26th, 2022 from 12:00 PM – 1:00 PM CST. Learn everything you need to know about the mortgage approval process and other tips to make the home buying process easier.

To learn more about the core conversion please visit swacu.org/coreconversion.

SHRED DAY! - MAY 6TH

Come Out and Shred Your Documents For Free

Need to get rid of some important documents? We’ve teamed up with Shred-IT to offer a FREE Member Shred Day. Join us on Friday, May 6th at our Dallas Branch located at 2430 Shorecrest Drive from 9:30am – 12pm. We’ll have a shred-it truck on site to securely shred all your unwanted documents. Our Houston and Phoenix Branches will have shred it bins available, however, once the bins are filled to capacity, additional items will no longer be accepted.

TRAIN WITH US & BECOME A SWACU

SCORE A TAKEDOWN ON YOUR AUTO LOAN RATE. • GREAT LOW RATE • GET PRE APPROVED BEFORE SHOPPING • SMOOTH EASY APPLICATION PROCESS

TAKE A WELL DESERVED VACATION AND GET AWAY PERSONAL LOAN RATES AS LOW AS 5.99% APR* *APR=Annual Percentage Rate. Loan rates and terms are based on the credit worthiness of the borrower. The actual rate you receive will be based on your credit score. Example Repayment Term: 60 monthly payments of $386.56 for a $20,000 loan at 5.99%.

NEW MONTH, NEW MONEY HABITS It’s a New Month which means it’s the perfect time to set new goals, new challenges, and most importantly new money habits. We’re sharing with you a few ideas to consider when managing your finances in 2022. MAKE A GOAL AND WRITE IT DOWN Make it a habit to look at your monthly finances and jot down one or two goals. The goal could be taking a bite out of your credit card balances or setting aside a small amount each month for a large purchase, like a house or new car. SET IT AND FORGET IT You likely have many of your outgoing bills set to “automatic payment” which is a positive money habit. Setting up “auto pay” on monthly utilities, cable, and other bills lets you be sure bills are paid on time. Consider setting up “auto save” as well. If you set a goal to save for a big purchase, like the down payment for a car, automate monthly savings to help you achieve your goal. Set up automatic transfers or use direct deposit from your paycheck to automatically place funds in your account.

of using a monthly spending or budgeting plan. You’ll learn how much money you have to work with, the amount that is going out each month for bills and expenses, what you need to set aside for other bills and living expenses, and how much you can devote to your goal from each paycheck. DEAL WITH DEBT Listing out all your monthly debt payments helps you stay aware and act if needed. If you are in the habit of only making minimum payments on your credit card balances or experiencing collection calls, consider learning how a debt management plan can help you develop healthy money habits. CELEBRATE YOUR PROGRESS You likely have many positive habits already. That’s something to be proud of, as you can apply those lessons to building new money habits. Make it simple. Tackle one habit at a time and celebrate your wins. The New Year is sure to be a success when you implement these money habits.

SPEND WITH CARE Mindful spending is a powerful financial habit to build. If you don’t already have one, build the habit

U P C O M I N G

closings

THE 2022 DANIEL J. KIMBER

SCHOLARSHIP WINNERS

Scholarship winners will be contacted the first week of May. Please pay attention to emails and phone calls from the swacu marketing team. APR

Good Friday

MAY

Memorial Day

Donations for Salvation Army Last winter we hosted our Holiday Heroes campaign. When members financed a new or used auto loan, we’d contribute $100 to the Salvation Army. Thanks to our amazing membership we were able to donate $50k to the Salvation Army of North Texas.

Access your SWACU accounts whenever and wherever you are! No matter if you’re traveling to another state or around the block, with CO-OP Shared Branching you can access your account at over 5,000 shared branches across the country. Visit swacu.org/coop to find a branch nearest you.

Can’t make it to a branch? Use our FREE Mobile Banking app to access your account!

www.swacu.org/coop

PRIVACY POLICY – TO VIEW THE CURRENT VERSION OF THE SWACU PRIVACY POLICY, PLEASE VISIT OUR WEBSITE AT www.swacu.org. TO REQUEST A PAPER COPY OF THE SWACU PRIVACY POLICY, PLEASE CALL 800-262-5325.

LIKE US. LUV US.

NOT MUCH OF A TALKER?

DALLAS | HOUSTON | PHOENIX | EULESS

800-262-5325 CONTACT BRANCHES DIRECTLY:

DAL EXT. 170 HOU EXT. 148

HEB EXT. 375 PHX EXT. 149

Text Us Instead at 214-357-5577.

FEDERALLY INSURED BY NCUA

WE CAN ANSWER YOUR ACCOUNT RELATED QUESTIONS.