T H E S WA C U N E W S L E T T E R G R O U P
IN APRIL 2008, I TRANSITIONED FROM...
a credit union in Illinois to the great state of Texas to begin my new role as President and CEO of Southwest Airlines Federal Credit Union. It has been the joy of my extensive credit union career to lead this organization. During my tenure at SWACU, I worked with an amazing Board of Directors, management team, and SWACU staff to usher in new technologies, products and services for our members. Some of the highlights include the implementation of our 4% Rewards Checking Account, mobile banking, online loan applications, remote deposit transactions and CO-OP Shared Branching; all to help our members conduct business across the country. During this time, we also surpassed opening both our 40,000th and our 50,000th accounts. Additionally, I had the honor of serving as a Board Member for the National Association of Federal Credit Unions where we steered positive change for our industry.
S U M M E R 2 0 19
The last 11 years have been an incredible journey, growing and positioning SWACU as an industry leader has been a great privilege. As part of the succession planning for SWACU, the Board of Directors selected a member of the existing SWACU executive team to lead the credit union into the next phase of growth. I am excited to announce Cynde Jones as the new President and CEO of SWACU beginning July 1, 2019. Cynde began her credit union career in 1993 and joined Southwest Airlines Federal Credit Union in 1996 as Member Services Supervisor and has held multiple management positions throughout the last 23 years, 11 of which she served as Executive Vice President. Her focus will be on continued growth, financial stability, expanded technologies along with additional products and services. Member service for our 50,000+ members will be a major emphasis as it has always been extremely important to Cynde, who understands service is what sets us apart from other financial institutions. She is a strong leader with vast experience in the local and national credit union industry. She serves on the NAFCU and Cornerstone Credit Union League Legislative Committees where she helps shape the national legislative landscape for credit unions.
It has been a privilege and an honor to serve you, our members. I’m thrilled to see how SWACU will continue to meet and exceed your financial needs going forward.
C H U C K RU TA N PRESIDENT/CEO
AT A GLANCE STATEMENT OF CONDITION FINANCES AS OF MAY 31, 2019
TOTAL LOANS.............. 419,647,868 TOTAL ASSETS.............. 567,908,295 TOTAL DEPOSITS.......... 500,014,125 TOTAL MEMBERS.......... 56,486
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2019 Summer UPDATE
Make a fashion statement this summer accentuate your wallet
• SWACU VISA PLATINUM • SWACU VISA REWARDS • SWACU VISA SIGNATURE ®
Summer is here and it’s time for some fun in the sun! With more flexible schedules and the kids out of school, SWACU is bringing the heat and helping you save this summer!
® ®
u Ignite your child’s financial future this
u Visit Shared Branching locations and free ATMs which can be found at www.swacu.org/coop when you are away from a SWACU Branch.
Plus, you will enjoy 0% on Balance Transfers for 12 months with a low 2.99% balance transfer fee.
u Rev up your summer with a new toy.
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With a super-hot interest rate on recreational vehicles, SWACU has the loan that’s right for you! Reward Checking Accounts with high dividends and rewards.
AVIATION APPRECIATION WEEK Aviation Appreciation is celebrated every year on August 19th. We want to let you know how much we appreciate your dedication to safety, professionalism, fun, and security in the air. National Aviation Day, also known as Wright Brothers Day, marks the anniversary of Orville Wright’s birthday on August 19th, 1871 and became a holiday in 1939 by the proclamation of Franklin Delano Roosevelt. This year marks 110 years of flight as the Wright Brothers took flight on December 17, 1903 to a whopping 120 feet in the air.
the only place your teen’s money needs to go. We built this account for teens who never stop going.
summer. At SWACU, we believe it’s never too early to start on the path towards smart money choices. For this reason, we are introducing the Ace of Savings Kids Club Account and the Go.Money Teen Account.
u Take advantage of SWACU’s FREE
this little piggy did not go to market...
Apply today, they’ve got the means to keep you cool! www.swacu.org/visacreditcards
Go.Money may be our new teen club but it’s not our first rodeo when it comes to offering new services to our members. Go.Money accounts were designed specifically with your teen in mind. You’ll enjoy this account!
Our new teen account will have members Swacu.org/go-money chatting!
Balance Transfers must be made in the first 90 days of opening. Loan approval and Annual Percentage Rate (APR) based on creditworthiness, payment method and ability to repay. Rates, terms, and conditions are subject to change. Fees subject to change. *New offers apply to new Visa® cards only. To take advantage of new credit card program, you must apply for a new card. Certain restrictions apply.
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NOW BOARDING FLIGHTS FOR OUR NEW KIDS CLUB!
We’re ready to take flight into the world of Spending, Saving, and Sharing. Sign your kids up for our new Ace of Savings Kids Club.
Youngsters can learn the importance of saving money – & we got free stuff too!!!
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Find out more at
Youth must have a parent or guardian joint on the account. Membership qualification & eligibility apply.
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YOU CAN
CATCH
During this event, we’re offering our great low rates and terms - but now - you can catch our 90 DAYS NO PAY.
DAYS
NO PAY! ** Just like Baseball, this season of savings will come to an end! APPLY TODAY!
FIRST BASE
SECOND BASE
THIRD BASE
RATES START AS LOW AS
RATES START AS LOW AS
RATES START AS LOW AS
MOTORCYCLE LOANS
3.99% APR*
RV LOANS
4.49% APR*
HOME PLATE
BOAT LOANS
AUTOMOBILE LOANS
4.49% APR*
2.59% APR*
RATES START AS LOW AS
*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: 36 monthly payments of $578.02 for a $20,000 loan at 2.59% APR. **New Collateral Loans Only. First payment will be due 90 days from closing of the loan. Finance charges begin accruing as of the loan disbursement date. Offer not available on existing SWACU secured loans. All loans and accounts are subject to approval. Offer expires September 23, 2019. Programs, rates, terms and conditions are subject to change at any time without notice.
Members have earned or saved....
$27,662,900 Dividends paid out
$1,851,717 ATM fee reimbursements
It’s time to get on board . FEDERALLY INSURED BY NCUA *Annual Percentage Yield (APY) accurate as of 02/04/19. Rate tiers are as follows: 4.00% Annual Percentage Yield (APY) applies to balances of $0.01–$25,000, and .25% APY applies to balances over $25,000 if qualifications are met during the monthly qualification cycle. If you do not meet the qualifications per cycle, your account will still function as a no fee checking account earning base rate 0.10% APY; however it will not receive ATM refunds for that time period. International ATM Fees Excluded. All balances will earn 4.00% APY–.25% APY if monthly qualifications are met. Rates may change after the account is opened. Fees may reduce earnings. No Minimum Balance Required to earn rewards. However, you must deposit a minimum of $30 to open the account. Qualifying transactions must post and clear the account during the monthly qualification cycle. International ATM fees will not be refunded. Transactions may take one or more business days from the transaction date to post to an account from the date the transaction is made. Intra-bank transfers do not count as qualifying ACH transactions. Limit two LUV Reward Checking Accounts per primary share account holder. For qualification details, visit swacu.org or call 800-262-5325.
JULY UPCOMING
HOLIDAY
CLOSINGS
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Independence Day
SEPT
2 Labor Day
DALLAS
SUMMER SECURITY TIPS:
HOUSTON
u Never provide personal information DON’TS to anyone who has contacted you u Never click on links in emails
PHOENIX
to enter account information, usernames, or passwords
EULESS 800-262-5325
DO’S FIND US,
@SWACU
u Review security tips listed on the FTC Website u Consider setting alerts, transaction amounts, and travel restrictions for your debit/credit cards Pay attention to emails for odd email addresses, misspelled words, and typos Use Public WI-FI with care, be careful about what information you’re transmitting while on unsecure networks
u u
Get started with SWACUWallet by adding your debit/credit card to Apple Pay, Samsung Pay, and Google Pay! Enjoy the convenience of having a digital wallet by making quick and secure payments and removing the need to swipe your physical card.
ENJOY A SAFE, HAPPY SUMMER
2019 DANIEL J. KIMBER SCHOLARSHIP PROGRAM WWW.FACEBOOK.COM/SWACU
Take us with you! WWW.SWACU.ORG/COOP
With 5,000+ locations across the country, it won’t matter if you’re on a family vacation or your baby is headed off to college. Discover the convenience and benefits of our CO-OP Shared Branching.
FEDERALLY INSURED BY NCUA
Julia Doyle SENIOR
Sarah Sorme SENIOR
Will Clawson SENIOR
SWACU held its annual Daniel J. Kimber Scholarship program this year. Scholarships in the amount of $2,000 were awarded to three graduating seniors based on their high school academic achievements, community and school involvements and their essay submission. SWACU is pleased to announce the winners of the 2019 Daniel J. Kimber Scholarship: William Clawson, Sarah Sorme, and Julia Doyle.
GOOD LUCK & THANKS TO ALL THE PARTICIPANTS
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