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Your official annual meeting notice All Electrus Federal Credit Union members are cordially invited to attend the credit union's 50th annual meeting on Friday, March 7, 2008, at 7 p.m. The meeting will be held at CU Companies, 500 Main Street, in New Brighton. The annual meeting will be held for the following purposes: To receive the annual report of the Board of Directors and Supervisory Committee To review the annual report of the Treasurer for the fiscal year ended December 31, 2007 To transact any other business that may properly come before the meeting To announce the results of the credit union's election for the three nominees to the Board of Directors The Nominating Committee for the 2008 annual election has placed three members in nomination for three expiring positions on the board of directors. Since no additional nominations were made, ballots will not be mailed. If elected, the following candidates will serve a three-year term: Ken Kenyon has been a member for 34 years and has served as an Electrus volunteer for 15 years; Gregg LaBonne has been a member for 39 years and has served as an Electrus volunteer for 30 years; Wally Kalscheuer has been a member for 38 years and has served as an Electrus volunteer for 37 years. Your Board of Directors encourages all Electrus Federal Credit Union members to participate in this important event. Refreshments will be served and prizes will be given away following the adjournment. By Herman J. Kahl Secretary, Board of Directors January 4, 2008
Calendar Our office will be closed: Martin Luther King, Jr. Day (Monday, January 21) Presidents' Day (Monday, February 18)
Moving? Keep us updated! Be sure to let us know when you move. We need your most current information on file to serve your requests as quickly as possible. To make an address change we will need your new address along with your signature authorizing the change. A change of address form is available. Contact the credit union to have one mailed or faxed to you or you can find the form online at www.electruscu.com, click on Online Services then Online Applications and select Address Change Request Form.
College Scholarship Deadline In 2008 $8,500 will be awarded to Minnesota credit union member college students by the Minnesota Family Involvement Council (FIC). The Council is a group of volunteers from credit unions throughout Minnesota who do fundraising specifically to fund educational scholarships. The application deadline is February 1, 2008 so don't delay! For complete instructions, selection criteria and an application go to www.mnfic.org and click on the icon for scholarships or for a paper application call Electrus at 736-569-4000. Best of luck, we'd love to have a winner from Electrus!
It's Always Nice to Share! Invite a co-worker or family member to join Electrus Federal Credit Union and you both get a REWARD! When your co-worker or family member joins, you get 10 BUCKS and they get 10 BUCKS. Electrus Federal Credit Union membership gives you great advantages:
So how do you get started? First, have your co-worker or family member fill out a membership application. When they submit their membership application have them include the reward form so we know which member accounts to credit. For a membership application or reward form contact us at 763-569-4000 or 800-252-4239. Don't miss out on this special offer! Offer expires 2/29/08. Reward valid only upon approval of new membership application. New member cannot have existing Electrus FCU accounts. All new members must open a savings account with $25. Special offer may be redeemed one time per membership account. Electrus will not award more than $10 per membership account per year. Please allow up to 2 weeks for reward deposit. Once the new member application is processed, $10 will be deposited to each account. Program details subject to change.
Enter to Win a $50 VISA Gift Card Below are questions relating to this months Currents Newsletter. Send in or drop off the completed questions by Friday, February 15, 2008 to have your name entered to win a $50 VISA Gift Card. You can also email your response to memberinfo@electruscu.com. The lucky winner's name will be posted in the upcoming Currents Newsletter and on the Electrus website. Make sure to include your name along with your response to the questions below. 1. Does Electrus offer IRAs and Certificates of Deposit to members? (Y) (N) 2. At Credit Union Service Centers you can make deposits, withdrawals, loan payments and transfer between your accounts. (T) (F) 3. If you invite a family member or co-worker to join the credit union what amount will be deposited into your account? ($2) ($5) ($10) 4. Electrus offers loans for Home Improvement? (T) (F) 5. The Annual Meeting is when? Your opinions are very important to us. Please help us by giving us your input on the two questions below. Thank you for your help! Would you use online bill pay if Electrus offered it free of charge? (Y) (N) Would you be willing to receive electronic statements in place of paper statements? (Y) (N)
CU Services Overview What we can do for you! Ever wonder... What does my credit union have to offer? Electrus offers a wide variety of prodcuts and services tailored to serve our members special needs. Savings & Investment Accounts
Checking Accounts
Loans for any purpose
Services to meet your needs
CU Service Centers 2,933 locations and growing Electrus has nearly 3,000 locations nationwide to serve your financial needs, 20 are located in Minnesota. That means flexibility and accesibility for members. When you visit a credit union service center you will need to have your ID with you , know your account number and that you are a member of Electrus. You can make deposits, withdrawals, loan payments, and transfer between accounts. There will be a delay in the availability of your deposits according to the hold requirements of the service center. Please remember to always review your receipt before you leave the service center and keep your receipt until you balance your statement. Credit Union Service Centers are made possible through a cooperative network of credit unions across the United States and in a few foreign countries. New centers are added weekely. For a complete listing got to our website at www.electruscu.com - roll over the bar on the left side labeled, About Us and click on locations. Scroll to the bottom of the locations page and click on the link for CU Service Centers.
Get your tax refund faster Members can direct the IRS to send their income tax refunds electronically to their Electrus savings or checking account. You can receive your refund up to three weeks earlier than if it is mailed to you! It's fast, easy, and no fee is involved! Just complete the "Refund" section ofr your IRS Income Tax Form 1040, 1040EZ or 1040A, with the Electrus routing number; 291074638, and your credit union member number and indicate whether you want your deposit into checking or savings. (Contact Electrus if you are unsure of what numbers to use.)
IRA accounts are insured to $250,000 Changes in April of 2006 increased the deposit insurance coverage on your Individual Retirement Account (IRA) at Electrus to $250,000. This is great news for anyone who is currently contributing to a Traditional or Roth IRA and for someone who is retiring and looking for safety and security of their hard earned money. 401k funds can be rolled over into an IRA account at the credit union when you retire. You can use a combination of an IRA savings account and a series of ladder or IRA certificates maturing over the next three years. For example if you have $80,000 in your 401k to roll over you could purchase one $20,000 certificate to mature in 12 months, one to mature in 24 months and another to mature in 36 months. The remaining $20,000 could be split between a six month certificate and an IRA savings account for immediate cash needs. Spreading out the maturity dates of your money allows you to take advantage of different interest rates over different time periods. Whether rates go up or down you don't have all of your eggs in one basket as the saying goes. An Electrus IRA specialist can help you roll over you 401k money at retirement and set up a maturity schedule. Thre are no commissions or transacion fees to pay at Electrus and you have the safety and convenience of accessing your money through your credit union. You also have the security of knowing that up to $250,000 will be completely insured by the National Credit Union Share Insurance Fund and is backed by the full faith and credit of the U.S. Government.
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