POCU Newsletter - Summer 2017

credit union hours and contact information monday – friday 8:30am to 5:00pm >>ATM 24/7 www.pocu.com 608.244.3518 • 800.431.7628 608-244-1107 fax contactus@pocu.com

summer 2017 NEWSLETTER

Welcome! The 2018 Vehicles Have Arrived Auto show season is behind us, which means we can get a good look at the new and redesigned vehicles heading our way for 2018. Some of them are already on car lots, but the best way to view next year’s cohort is online. Visit your favorite manufacturers’ websites to see what’s in the pipeline. If there’s a new 2018

vehicle in your future, talk with POCU now about our exceptional vehicle loan rates, which are among the lowest in Dane County. When you walk into that dealership your financing will be taken care of, and you’ll be in the driver’s seat, hassle-free!n your c

madison’s first credit union www.pocu.com 608.244.3518

GOOD RATES >> a “refi” can improve your existing car loan Refinancing home loans has been a pretty common occurrence in recent years as interest rates have remained low- but did you know that you can refinance your car loan as well? If you financed your vehicle through the dealership, or through another financial institution, chances are your interest rate (and monthly payment) is higher than it needs to be. Call or come in with the make, model and year of your car, and the amount you still owe. We’ll do some quick math for you, you can compare the payments, and if you want to move your car loan here to POCU, we’ll take care of everything!

THE BOARD ROOM Spring 2017 brought some very exciting and important milestones for the POCU board of directors. In late May POCU welcomed members to the branch for its 87th annual membership meeting. The meeting was called to order at 5:30pm, and featured reports from the officers of the board of directors as well as elections. Louis Antoine and Susan Spahn were re-elected as directors of the board, and we are especially pleased to welcome new directors Laurie Zimmerman and Patrick Nee! At the conclusion of the meeting, those in attendance enjoyed fellowship and refreshments. POCU is always searching for associate board members to join our team and learn more about the credit union movement. If you, or someone you know, would be an excellent board member, with progressive ideas and a willingness to serve the needs of our growing membership, please reach out to POCU President Kevin Yaeger with your suggestions, kyaeger@pocu.com, 244-3518.

GOOD ADVICE >> keep your information safe in a few easy steps With cyber security breaches impacting millions of U.S. consumers in recent years, it’s easy to feel overwhelmed by the risks we face because of the technologies we use today. Instead of feeling worried and afraid, put your paranoia to work. By following a few simple procedures you can feel confident about the safety of your financial information:

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Be careful about giving personal or financial information online eep your anti-virus software current on your computer, K and run it daily se complex passwords for the websites you frequent, U and change them often

4. Clean out your wallet; don’t carry cards/information you don’t need or use

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Shred paper statements and bills when you are done with them e vigilant about checking your credit union account statements; B alert us of any suspicious activity

7. Take advantage of the free credit reports you are entitled to each year by visiting www.annualcreditreport.com.

GOOD CHOICE >> POCU’s tax-exempt status translates into member satisfaction You may not realize this, but POCU doesn’t pay corporate income tax to the federal government. There are a couple reasons for this, the main ones being that POCU is a not-for profit financial cooperative which is owned by members, and the directors on our board serve as volunteers. These attributes distinguish credit unions from banks, which do pay corporate Our tax status allows us to income tax. Our tax status allows us compete effectively in the to compete effectively in the financial financial marketplace with marketplace with lower interest rates on lower interest rates on loan loan products, and higher yield rates on products, and higher yield savings products. If we paid corporate rates on savings products. income tax, we would have to pass along those expenses to members in the form of higher fees. So, you might wonder, are credit unions and their members pulling their weight? Absolutely! As you know, you pay income tax on the higher dividends your credit union accounts earn. POCU is a not-for-profit, democratic financial cooperative that serves its member-owners through thick and thin. As long as that’s true, we earn our tax status every day.

At POCU, members always come first. Tell your friends and family about the perks and benefits that come from credit union membership. If they live or work in Dane County, we would love to serve them!

YOUR HOME’S EQUITY: a resource worth tapping into If your home is worth more than you presently owe, you should consider using that equity to fund summer improvements like a new roof, driveway, or gutters. A home equity line of credit (HELOC) is ideal for these types of projects because you can continue to draw funds over an extended period of time to pay contractors as they complete work. With a HELOC, not only can you use the funds at will, but you can also pay it down at will. Because it’s based on the equity in your home, a HELOC features all of the advantages of a secured loan over an unsecured loan: REDUCED INTEREST RATES, LONGER PAYOFF AND REDUCED CREDIT SCORE IMPACT. Plus, if your HELOC is put toward home repair or improvement, the interest is usually taxdeductible! With real estate markets rebounding, now may be the time to reap the rewards of this housing price resurgence. By starting a home equity line of credit, you can put your equity to work, increasing the value of your investment and securing an even brighter financial future for you and your family. Talk to POCU today to see if a HELOC will meet your borrowing needs, 244-3518.

click the eStatements link and sign up!

right in the Additional Services box,

Self Service tab at the top. To the

easy! Login to online banking, click on the

wait for the mail. Signing up for e-Statements is

by using POCU’s eStatement option you’ll never need to

Your credit union account statements are available online, and

get your statements sooner and more securely

P. O Box 774 4 Madiso n, WI 53 707- 7744 w w w. p ocu .co m