THE SWACU NEWSLETTER SUMMER 2020 For 27 years, credit unions have been my life’s work. My passion for credit unions is based on the values we represent as an industry. If you look on Wikipedia, you will find the following: A credit union is a memberowned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates as well as other financial services. People Helping People! I still get chills when I see that phrase. We are an important business that helps our members every single day. I hear stories from our membership about ways we helped them with an emergency loan when they lost their job, provided a way for them to buy their first home, helped them unravel payday/title lender debt or offered them electronic solutions for doing business when they could not leave their homes due to COVID-19. Our staff genuinely cares about our members and we look for ways to accommodate requests that might otherwise be denied by a typical financial institution. In times like these as a nation, we are looking for something positive to shine through. I hope you find that positive light through SWACU. The Credit Union Movement has traditionally had seven Cooperative Principles (tenants) to guide our industry. These principles are simple, and time tested. I share them here and have added some of what each one means to the movement and SWACU. 1) Voluntary Membership. Credit unions are voluntary, not-for-profit, cooperative organizations, offering services to people willing to accept the responsibilities and benefits of membership, without gender, social, racial, political, or religious discrimination. We stand for the financial well-being of ALL our members. 2) Democratic Member Control. Cooperatives are democratic organizations owned and controlled by their members – one member, one vote. Each member has earned one vote because they belong, regardless of their status. 3) Members’ Economic Participation. Our members trust us because credit unions, which typically offer better rates, fees, and service than for-profit financial institutions, recognize benefits in proportion to the extent of their financial transactions and general usage.
TOTAL LOANS
$447,875,300 TOTAL DEPOSITS
$608,681,186 TOTAL ASSETS
$683,804,341
4) Autonomy and Independence. Cooperatives are autonomous, self-help organizations controlled by their members. Our members come first.
TOTAL MEMBERS
5) Education, Training, and Information. Cooperatives provide education and training for members, elected representatives, managers, and employees so they can contribute effectively to the development of the cooperative. We practice empathy and use all our resources to provide support to help members prosper and achieve financial well-being.
FINANCIALS
6) Cooperation Among Cooperatives. Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, state, regional, national, and international structures. Credit unions are worth fighting for and our members are worth fighting for. We are stronger as an industry when we put our differences aside and work together. 7) Concern for Community. While focusing on member needs, cooperatives work for the sustainable development of communities in the form of supporting charities and causes important to our field of membership. We are a reflection of those we serve. We seek ways to ensure people in our field of membership can find a pathway to prosperity. As I state in each newsletter, SWACU is here for you. Maybe in ways you never considered. Keep us top of mind when it comes to your financial needs. We want to show you that we are different from other financial institutions in a positive way!
58,138
As of May 31, 2020
IN THIS ISSUE:
• Cash Back Auto Loan Date Extension
• SWACU Celebrates
45 Years of Service
• SWACU’s eServices • Life Time Membership with Active Account
• Scholarship Winners • Important Dates
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$250 CASH BACK
AUTO LOAN
From the file room at Southwest Airlines to four branches and nearly 60,000 members across the United States, Southwest Airlines Federal Credit Union has come a long way. This year, SWACU celebrates 45 years “SWACU was there for me and my son when he bought his first car... and they’re here for you, too! :)”
LISA, FLIGHT ATTENDANT SOUTHWEST AIRLINES SWACU MEMBER SINCE 1985
of helping our members achieve their financial dreams and aspirations. We have heard stories of members buying their dream homes and members who use the dividends they earn from their Reward Checking to take their families out to dinner each month. Stories of helping young borrowers learn the importance and responsibility of their first auto loan and the SWACU Loan Officer who taught them, help make SWACU who we are. We hope to be able to celebrate on our 45th Anniversary in September, but our biggest celebration is through our members and their successes. In order to celebrate near and far, we would love to hear your SWACU Story!! Share your tale with us at swacu.org/myswacustory
RES OFFER NOW EXPI T A RE G IS TH , D N A BY POPULAR DEM
JULY 31ST, 2020
LET’S GET LIFE STARTED AGAIN - APPLY ONLINE AT
SWACU.ORG/PROMOS
*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 $575 for a $20,000 loan at 1.99% APR. **New Auto Loans Only. First payment will be due 90 days from closing of the loan. Finance charges begin accruing as of the loan disbursement date. The $250 cash value may be reported as taxable income. Offer not available on existing SWACU auto loans. All loans and accounts are subject to approval. $250 cash back offer only available to auto loans of $10,000 or more. Allow 4 weeks to receive your $250 from the date of loan closing. Offer valid on loans financed April 24 July 31, 2020. Programs, rates, terms and conditions are subject to change at any time without notice.
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SWACU'S eSERVICES
HAS BRANCHES POPPING UP EVERYWHERE eSERVICES CONVENIENTLY SET YOUR ENTIRE FAMILY UP FOR FINANCIAL SUCCESS Life gives us many new phases that require new navigation and learning. SWACU Online Banking offers many solutions to help each stage of life run a little easier! Each of these tools will help life’s twists and turns be a little straighter.
Young Career Phase.............................................................................. THE COFFEE SHOP BRANCH
l Manage spending habits with SWACU Budgeting Tools l Manage misplaced debit cards by easily turning them on and off with CardValet l Manage minimum transaction counts with the LUV Transactions Counter l Manage your financial future by easily applying for credit cards, loans, and home loans l Manage financial knowledge through Greenpath Debt Solutions and financial tools
Family Phase...........................................................................................
THE FAMILY COUCH BRANCH
l Keep focused when preparing for large future expenses, like weddings, with Savings Goals l Keep track of unnecessary expenses by using the SWACU Budgeting Tool l Keep more attention on important events by scheduling your bill payments through Billpay l Keep an eye on your teen’s debit card by managing spending with CardValet l Keep your children financially minded by setting up their Ace of Savings and Go.$ accounts
Retirement Phase.................................................................................. l Enjoy Enjoy the benefits of SWACU by keeping your SWACU accounts even after retirement l Enjoy peace of mind by setting geographic spending limits in CardValet l Enjoy your vacation by scheduling your bills through Billpay l Enjoy money going further with the SWACU Budgeting Tools
THE KITCHEN BRANCH
To learn even more, check out the new video section of our website to learn the ins and outs of our products and services at swacu.org/learning
Membership @ SWACU
IS FOR LIFE.
Once a Member Means Forever
When it comes to meeting your family’s financial needs – you won’t find a better wingman anywhere!
Once a Member always a Member
FEDERALLY INSURED BY NCUA
Glo knows, where you go, we go. R E T I R E M E N T | N E W C A R E E R | R E L O C AT E
Stay a SWACU member long after your membership eligibility changes by keeping your account open.
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MEET THE DANIEL J. KIMBER SCHOLARSHIP WINNERS
U P C O M I N G
holiday closings JUL
SWACU IS PLEASED TO ANNOUNCE THE WINNERS OF THE 2020 DANIEL J. KIMBER SCHOLARSHIP: SETH BYRNE, VADA KIRSCH AND PRESTYNN POGUE. THESE GRADUATING SENIORS WERE SELECTED ON THEIR HIGH SCHOOL ACADEMIC ACHIEVEMENTS, COMMUNITY AND SCHOOL INVOLVEMENT AND WILL RECEIVE A SCHOLARSHIP IN THE AMOUNT OF $2,000.
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Seth Byrne plans to pursue a degree in Biochemistry, which combines biology and chemistry into a single curriculum. After attaining this degree, he hopes to pursue graduate school to study pharmacology and drug development.
Independence Day (Observed)
Vada Kirsch plans to attend Purdue University studying atmospheric science and has taken a bold decision to become an officer in the United States Air Force. SEPT
7
Prestynn Pogue plans to attend Southern Methodist University and major in Mechanical Engineering with a specialization in Engineering Management and Entrepreneurship and a minor in Civil Engineering.
Labor Day
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.
SHRED DAY – FRIDAY, JULY 17TH
AVIATION APPRECIATION DAY – AUGUST 19TH
THIS REMAINS A FREE EVENT FOR SWACU MEMBERS.
Aviation Appreciation day is landing once again! 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 117 years of flight as the Wright Brothers took flight on December 17, 1903 to a whopping 120 feet in the air.
On July 17th, bring your unneeded sensitive documents to your local SWACU Branch. The Dallas Branch will have a Shred-It truck on site from 8:30 a.m. - 1:00 p.m. to securely shred all documents. The Houston and Phoenix Branches will have locked Shred-It bins for members to deposit their documents to be securely shredded.
PLEASE HELP US TO OBSERVE ALL NECESSARY SOCIAL DISTANCING.
www.swacu.org/coop • TURN YOUR SWACU DEBIT CARD ON AND OFF • SET LOCATIONS ESTABLISHING WHERE THE CARD CAN BE USED (WILL NOT OVERRIDE BLOCKED COUNTRIES) • SET RESTRICTIONS ON YOUR CHILD’S DEBIT CARD • AND A WHOLE LOT MORE! CardValet located in SWACU Online and Mobile Banking.
Go online and discover the convenience and benefits of our COOP Shared ATMs. We have over 30,000 locations across the country for you to access your SWACU accounts.
4 FIND US @ SWACU Once a Member always a Member
EVERYONE HAS A STORY.
We want to hear and share yours. swacu.org/mySWACUstory DALLAS | HOUSTON | PHOENIX | EULESS
800-262-5325 FEDERALLY INSURED BY NCUA