Marathon County Employees Credit Union Wausau, Wisconsin

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1 Marathon County Employees Credit Union Wausau, Wisconsin STATEMENT OF COMMITMENT TO MEMBERS 6-13 Marathon County Employees Credit Union (MCECU) is a member-owned, not-for-profit financial cooperative. We are proud to serve Government employees and their families in Marathon County. Marathon County Employees Credit Union (MCECU) is a member-owned, not-for-profit financial cooperative. MCECU is a closed charter credit union. That means it cannot solicit members from the general public or community at large. The following people are eligible to join: Current, past public employees and retirees of the following: Marathon County North Central Health Care Facilities Marathon County Special Education Federal Employees State Employees School District Employees City Employees Town and Village Employees Current, past and retirees working in government buildings in Marathon County. The members of the immediate families of each person eligible to become a member including but not limited to spouses, parents, children and stepchildren, whether or not they reside in the same household. Persons eligible to join: Domestic Partners Spouse, former spouse, parent, child, or a person related by blood or adoption to a member A person currently or formerly residing in a place of abode with a member A person with who a member has a child in common A person who provides in home or community care for a member A person with whom a member has or had a dating relationshi MCECU makes the following commitment to its members: MCECU's mission is to serve our members' changing financial needs. MCECU will uphold its fundamental fiduciary responsibility to actively serve the financial needs of the people within our field of membership and, as appropriate, the communities within which they live. Page 1

2 MCECU will treat each member with respect and dignity. Our financial transactions will always be honest and fair. We will deliver a range of low cost products and services to the diverse economic and social make-up of our membership and potential members. We will strive to improve the ways we reach out to the un-served and underserved in our field of membership. We will continually demonstrate the value of membership in our Credit Union in all facets of our operation. MCECU will monitor the delivery of our services and communicate about our services to our members in a way that members, potential members, legislators, regulators and the community at large will understand and appreciate the unique role that member-owned financial cooperatives have. It will be the ultimate goal of our strategic plan that our members will be enabled to become financially self-sufficient and successful. We will place high importance on consumer education and teaching thrift. This statement of commitment is consistent with the Credit Union principle stated as "Not for Profit, Not for Charity, But for Service," and our philosophy of being people helping people." This statement represents our commitment to sound business practices that will ensure the financial strength of our Credit Union on behalf of our members. SERVICE TO MEMBERS MCECU offers a wealth of services designed to improve the economic and social well being of our members without discrimination. The purpose of our services is to provide financial value to those who participate in our member-owned financial cooperative. Our services include: 1. Kirby Kangaroo Club - For members age 0-12 to promote early the value of saving and responsible money management. 2. Teen Club For members to promote starting youth on the path of setting financial goals and saving to reach them 3. Student Checking For members age 14-22, free checking and debit card to help them learn financial management skills and responsibility For members age 55 and older, free checks and checking, document copying, traveler s checks and faxing. 5. Free Checking Accounts Dividend paying accounts with no minimum balance requirement and no monthly or per check fees with direct deposit. The Annual Percentage Yield maintained on this account is among the best in the market. 6. Open Deposit Savings - No-fee membership savings account opened with a minimum deposit of $5 that pays a good dividend that is compounded quarterly. 7. Automated Deposit Options Direct deposit and payroll deduction for County, Health Care Center and Special Education employees, our core membership groups. Direct deposit is also available from any company willing to offer it to their employees. We also provide debit origination service to enable members to transfer funds to and from other financial institutions. 8. Money Market Super Share Savings an investment account that earns a higher rate of return than a regular share account. 9. Holiday/Vacation/Secondary Savings Fee-free accounts to save for a specific purpose that can be tailored to meet individual savings and withdrawal needs. Page 2

3 10. Certificates of Deposit Competitive rates are offered on Share Certificates. A certificate for children can be opened with a minimum amount of $ IRAs Fee-free open deposit IRAs and Certificate IRAs of all types: Traditional, Educational, Simplified Employee Pensions, Conversion Roth and Roth. 12. Overdraft Protection Protection from possible NSF returns; funds are transferred from a designated account or line of credit to cover overdrafts. 13. Visa Gift and Traveler s cards $3 for each card. Visa gift cards are re-loadable up to 3 times and travel cards are re-loadable up to 5 times. 14. Cashier s Checks 15. Debit Card Used as both an ATM and debit card, it provides convenient access to cash at ATMs, and point-of-sale transactions around the world. We have joined an ATM Alliance nationwide so our members have access to surcharge free ATMs. 16. VISA Credit Cards 11.9% APR, no annual fee and 25-day grace period. 17. Small Signature Loans - Loans as small as $300 to help a member establish credit. 18. Risk Based Lending Members' determine the interest rates on their loans by their personal financial management practices. An objective assessment determines their credit score and subsequent interest rate. 19. Mortgage Loans Offered in partnership with Connexus Credit Union, real estate lending for purchase, construction, home equity and home equity lines of credit. We offer 5 year Balloon, 10 and 15 year fixed mortgages in-house. 20. Commercial and Agricultural Loans Offered in partnership with CoVantage Credit Union, offering specialized loans with special rate structures, and insurance products that can benefit those in commercial and agricultural businesses. 21. Home Equity Loans 90% financing on closed end home equity loans. 22. Consumer Loans Competitive rates and no pre-payment penalty. 23. Vehicle Loans Car, truck, motorcycle, boat, RV, motor home, 5th wheel, camper, personal watercraft, snowmobile and ATV loans with flexible terms and payment options. 24. Auto Warranty Service and GAP Insurance Less expensive than warranties sold by dealerships with the advantage that the member selects the repair shop. Our GAP insurance is also much less expensive than dealerships and covers the member in the case that where they total the vehicle and owe more than the vehicle is worth. 25. Business Checking For members who operate small businesses to encourage use of Credit Union services and save money. You will find our fees to be very low. 26. Small Business Accounts Saving and checking accounts for small businesses, non-profits and clubs including investment clubs, bowling leagues and unions, to name a few. Page 3

4 27. Credit Bureau Reporting To help members establish a credit rating; monthly reports issued to the Credit Bureau on good and bad loan history. 28. Consumer Credit Counseling In cooperation with Consumer Credit Counselors, we will refer and pay the fees for a member who chooses to use this service to reorganize her/his financial affairs. 29. Convenient and Easy Access Member Service Representatives can be reached via telephone, voice mail, and MARS - Member Audio Response System telephone teller service available 24 hours a day, 7 days a week to obtain account information or transfer funds CU Online Internet access to your account 24 hours a day at Mobile Banking Smartphone access to your account 24 hours a day at mcecu.mobi 30. Free Online Bill Pay An easy and convenient way to pay your bills electronically via our web site. 31. Web site to keep members informed Financial Planner We will refer members to Dan Moericke, Financial Design Group, Inc. for free financial planning services Hummingbird Rd Wausau, WI Tel Fax Daniel_Moericke@glic.com MEMBERS Financial Center Our Internet online center for all your financial needs. My Financial Center Money Management Insurance and Investments Brokerage Center Education Center 34. Drive Through Teller Line and Night Depository Mobile convenience. 35. Coin Counter Bring in the coins off the dresser or from the piggy bank and put them to work earning interest. 36. Notary Service Free notarizing of documents. 37. Inter-office Mail Delivery For departments in our membership group served by the Mail Courier; members can have needed documents or checks delivered within hours. MEMBER EDUCATION Believing that informed individuals are best able to determine their financial future, MCECU is committed to member and consumer financial education. That education includes providing information about the uniqueness of the credit union philosophy and values. Page 4

5 We currently provide the following programs to support member education and advocacy: 1. Consumer Credit Counseling Alliance MCECU is a member of the alliance between the Wisconsin Credit Union League and the Consumer Credit Counseling Service to provide reputable credit counseling to members who would benefit from it. The Consumer Credit Counseling Service is a non-profit community action organization, designed to help people help themselves and solve their debt problems. 2. Annual Meeting the annual meeting of members provides a forum to discuss services offered and new services members may desire in an educational approach that demonstrates the unique credit union cooperative difference. 3. Credit Union University Program Of benefit to members ultimately, member service representatives are encouraged to and supported in advancing their financial services skills and knowledge through this formal education program. Comprehensive courses are available to them through a national credit union staff education and development program. 4. Web Site provides members and potential members with a wealth of information about our credit union, products and services, education programs, saving and loan rates, financial calculators, and financial information for kids, and educational resources on investing, insurance and personal finance. The Online Education Center feature provides information that is helpful to members' financial well being. 5. MoneyCents Newsletter MoneyCents articles provide members with information about our unique qualities and philosophy as well as reminders and updates on services they can benefit from. 6. Lobby Resource Library A resource center with consumer reports, educational brochures and National Auto Dealers Association (NADA) vehicle information is available to members in the Credit Union lobby. 7. The Rumor Mill MCECU contributes a page to this Marathon County employee newsletter every other month to convey educational information for members, and potential new members, about the benefits of membership and the services available to them. 8. The News You Can Use MCECU contributes articles to this Health Care Center employee newsletter every payday to convey educational information for members, and potential new members, about the benefits of membership and the services available to them. 9. Our Loan Officer is a Financial Counselor for the UW Extension Financial Counseling Program. INVOLVEMENT/GOVERNANCE Since its inception, MCECU has asked its members to volunteer to review loans, conduct audits, and evaluate the activities of our Credit Union. We will continue to preserve the time-honored democratic credit union principles that encourage broad-based representation and volunteer participation in credit union activities. Our programs that support the concept of Involvement/Governance include: Page 5

6 1. Board of Directors Members may become directors through nomination and election by the membership. Directors are elected from and by the membership at the annual meeting. 2. Audit Committee This voluntary member committee is responsible for auditing Credit Union transactions to ensure safety and soundness for members. 3. Committee Involvement MCECU has had, and establishes as needed, committees comprised of members to accomplish various functions or services for the Credit Union. Examples include audit committee, asset liability management, facilities committee and web site development committee. 4. Member Involvement MCECU has established a network of liaisons in departments within our field of membership. Through the network we are able to provide information to and receive feedback from members. The network informs new and current employees about the Credit Union and invites non-members to join. We seek member participation in long range planning and, through survey activities, in determining the services we provide. 5. Annual Meeting We encourage our entire membership to attend, participate and vote on matters of importance to the Credit Union and to elect the directors. 6. Board Training Members of the Board of Directors review information and receive training on current topics and key issues facing the credit union and the credit union movement. Management as well as outside experts provide this training. 7. Through ongoing monitoring of the federal and state law making processes, we participate in the process to inform our elected representatives and appointed officials of our opinions on matters of importance to us. DIVERSITY MCECU believes that there is value in social, cultural and ethnic diversity among our staff, volunteers and membership. It is a goal of ours to bring people of varying backgrounds and experience into roles of leadership within our Credit Union. We promote this value through: 1. Supported Employment Partnership - We have joined with the Supported Employment Agency to employ a person who can benefit from regular and ongoing work experience with increasing levels of responsibility while also receiving assistance from other social and health related services. Our employee performs filing, document handling and marketing duties. 2. Equal Employment Opportunity MCECU abides by the EEO guidelines and seeks to fill vacancies without regard to race, creed, religion or socio-economic status. 3. Equal Housing Opportunity Lender MCECU is an Equal Housing Opportunity Lender. COMMITMENT TO THE CREDIT UNION MOVEMENT AND OTHER COOPERATIVE ACTIVITIES Page 6

7 MCECU will work to build and strengthen our unique credit union movement by contributing financial and in-kind assistance to others within the credit union community. We will actively advocate for the credit union difference at all levels of government and in other forums. MCECU will participate in local, state and national credit union-related activities to build and strengthen relationships with other sectors of the national cooperative financial movement. We currently demonstrate this commitment in the following ways: 1. Leadership - MCECU s senior management employee serves or has served on boards and committees for credit union related organizations, including Wisconsin Credit Union League Government Affairs Committee, Wisconsin Valley Credit Unions Chapter, Marathon County Employees Retirement Recognition Dinner, Marathon County Employees Association Christmas Carnival, Snow Tubing event and Summer Picnic. 2. Small Credit Union Partnership MCECU lends assistance to small credit unions. 3. Mentoring MCECU s President provides training, conducts planning sessions and helps solve service-related problems for other credit unions. 4. Cooperative Advertising MCECU participates in the State-Wide Advertising Program (SWAP) for the collective advertising of credit unions. 5. Political and Regulatory Advocacy MCECU actively participates in campaigns to inform and shape political and regulatory outcomes that are important to the Credit Union movement by contributing staff time, hosting fundraisers, and organizing activities that support the effort at hand. 6. Employee Continuing Education MCECU provides financial support for education that will further our employees' careers in the Credit Union field. 7. Credit Union Nights at The Ballpark As part of this all-credit unions sponsored annual event, MCECU buys tickets for our members to attend the college league Wausau Woodchucks games, and participate in the prize give-a-ways and fun that go with it. 8. Credit Union Week Newsletters, celebrations, and posters are used to increase members' awareness of the credit union difference. 9. Wisconsin Credit Union League MCECU continues to be an active member of the Wisconsin Credit Union League. 10. Children s Miracle Network - MCECU raises funds all year long for the Children's Miracle Network program at Saint Joseph s Hospital, Marshfield, WI. PUBLIC SERVICE/CORPORATE CITIZENSHIP MCECU is an active participant in community improvement activities. We do this because we believe that being good corporate citizens is in keeping with the Credit Union philosophy of being people who help people. Page 7

8 We believe that it is right to raise the overall level of social and economic well being of people in our community, to help strengthen ties within the community, and to reach out and serve people with the greatest need for affordable financial services. MCECU demonstrates these beliefs through the following activities: 1. Children s Miracle Network - With St Joseph s Hospital, Marshfield, being the benefactor, we undertake the following year-round sales to raise funds: teller-line candy bars, Christmas music CD s and the Share a Bear Program. All funds that we raise go to help thousands of Wisconsin children treated at Children s Miracle Network Hospitals. 2. American Cancer Society Relay for Life we participated in this fundraiser. Over $211,000 has been raised in a single outing. MCECU helped by organizing a team to participate. For the first ten years MCECU was on the organizing Committee. 3. Dora Maxwell Social Responsibility Award MCECU received the First Place National Award for Credit Unions $5-$20 million in Assets for its outstanding Social Responsibility Program from the Credit Union National Association in MCECU has also received the First Place Dora Maxwell Award for the State of Wisconsin in 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011 and In 2004 and 2005 we have supported the Red Cross with donations for Tsunami relief and Hurricane Katrina relief. 5. We supported the North Central Health Care Facilities walk way by donating a bench for employees to sit on during their breaks. 6. Our Kirby Kangaroo Club collected an entire van full of supplies for the Humane Society of Wausau. 7. We sponsored the First Annual Fun Walk/Run for Mount View Care Center. 8. We sponsored the 2013 Community Corner Clubhouse Sock Hop to raise awareness for mental health issues. 9. Mount View Care Center-MCECU raises funds each month so that every resident at Mount View receives a birthday present. We also send over Christmas cards and ask our members to adopt residents for Christmas. 10. Our President is on the Catholic Charities Advisory Council working on issues ranging from financial counseling to the Warming Center. 11. Our President is the Treasurer of the Community Corner Clubhouse Advisory Board working to help with changing the lives of those who suffer from a mental illness. 12. Our Loan Officer is on the Hmong Association Board of Directors. 13. Our Employees are actively involved in the following Organizations: Wausau Noon Optimist Club, Easton Lions, Shriner s Auxiliary, Hmong Association, Weston PTO, and the Saint Therese Choir. Page 8

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