Because Real Life Spending Isn t Always Planned, There s PCU Blue, Blue Rewards & Gold Visa

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1 Spring 2011 S E R V I N G A N O K A, C H I S A G O, D A K O T A, H E N N E P I N, R A M S E Y & W A S H I N G T O N C O U N T I E S Because Real Life Spending Isn t Always Planned, There s PCU Blue, Blue Rewards & Gold Visa Some monthly expenses you can prepare for and some take you by surprise. Either way, when it s time to spend you ll know your PCU Blue, Blue Rewards or Gold Visa Credit Card is giving you something in return. PCU has the right card for your personal and/or business use. Personal lines start as low as $500 and can go as high as $30,000. Enjoy a variety of perks and benefits depending upon the card you choose, including: Low standard rates* Built in fraud protection Cash back or CU Rewards No annual fee** Local representatives to assist you over the phone or in person Online account management through PCU Online Banking Apply 24/7 online at or by phone at or Or, visit any PCU location and one of our friendly Member Service Representatives will assist you. * Rates subject to change. For current rates and disclosure information visit **The Blue Rewards Card will have an annual fee after the first year. In This Issue: Pg. 3 Annual Meeting Dinner Tickets on Sale Pg. 4 PCU Commits to Meals on Wheels Pg. 4 A Better Way to Save for Retirement Pg. 5 Meet the Board Candidates Pg. 6 Thinking About Starting a Business in Minnesota? Join your fellow member-owners at this year s Annual Meeting, set for Sunday, May 1 at the Prom Center in Oakdale. See page 3 for details. Pg. 7 Frequently Asked Questions About MEMBERS Financial

2 President s Corner What s New at PCU Founded in 1926 as St. Paul Postal Employees Credit Union. Dollars & Sense is published quarterly for members of Postal Credit Union. Editor: Cindy Kurtz Contributors: Shannon Garrity When your credit union first opened in 1926, we offered only savings accounts. A short time later, loans were added to the product line up. Fast forward to 2011 and it s evident PCU has come a long way since those early days. Now, 85 years later, your credit union is a full-service financial center, offering a wide range of services to meet your ever-changing financial needs. We live in a time of great opportunity, where advancements in technology and new product development enable us to serve you better, faster and more efficiently. These advances provide the means to take existing products and services and enhance or replace them to make them more beneficial to your life today. With that in mind, I would like to share just a sample of what s new at PCU: To provide you with a more cost-effective way to manage life s expected and unexpected expenses, your credit union recently introduced the new PCU Blue and PCU Blue Rewards credit cards, featured in this issue of Dollars & Sense. To help you better manage your daily finances, we will soon roll out a streamlined and enhanced checking account line up, designed to capture the best features and benefits of our current offerings, including free checking. Also in the works is a new Online Banking and Bill Pay system, a new and improved website, Mobile Banking and more. In addition to these exciting changes, PCU continues to offer exceptionally low auto and mortgage loan rates. If you are in the market to buy, now is the time to lock in a great rate and save! The future holds many exciting things for your credit union, as we continue to expand and improve the many ways we serve you. Of course, none of this would be possible without your ongoing support. We are proud to be your financial partner and are committed to providing you with sound financial solutions and unparalleled service. Attend the Annual Meeting Tickets are now on sale for your credit union s Annual Meeting on May 1 at the Prom Center in Oakdale. Join your fellow owner/members and take part in democracy in action. See page 3 for details. I look forward to seeing you there. Operating under supervision of the Minnesota Department of Commerce Member of River Cities Chapter Minnesota Credit Union Network and CUNA, Inc. An Equal Opportunity Employer BOARD OF DIRECTORS James C. Bryan, Chairman Keith E. Hauge, Vice Chairman Daniel L. Blees, Secretary Allan J. Brennan Laurie M. Ludwig Roger L. McClure Judy A. Schadewald Robert E. Vance Jr. Mary A. White SUPERVISORY COMMITTEE Lisa M. Liddell, Chairperson Jim Carrier STAFF Russell M. Plunkett, President Dennis R. Bauer, Executive Vice President Brian G. Sherrick, Executive Vice President Jeanine S. Swanson, Senior Vice President Lawrence J. Miggler, Senior Vice President Alisha J.R. Johnson, Vice President Kelly R. Johnson, Vice President Michael C. Rush, Vice President All Offices 8-5:00 pm Toll Free* 8-5:00 pm TTY Deaf or Hard of Hearing 8-5:00 pm PAL Local PAL (2725) PAL Toll Free* Fax Fax, Toll Free* VISA TTY Deaf or Hard of Hearing Investment Center Mortgage Center Business Services * Except Alaska and Hawaii. 2 w w w. p o s t a l c u. o r g

3 Tickets Now on Sale for 2011 Annual Meeting! Sunday, May 1, 2011 Registration 12:00-1:00 p.m. Business Meeting 1:00-1:45 p.m. Dinner 2:00-3:30 p.m. Join fellow PCU members at this year s Annual Meeting, set for Sunday, May 1, at the Prom Center in Oakdale, just north of I-94 at 484 Inwood Avenue/ Radio Drive (County Road 13 see map). All members are invited to attend the Business Meeting and enjoy a good meal. A sign language interpreter will be available for the deaf or hard of hearing, with designated seating near the front of the ballroom. The center features plenty of free parking. Learn about PCU s many opportunities! The Annual Meeting s popular tradeshow gives you the chance to learn more about PCU s Mortgage & Title services, Business Services, Consumer Services, MEMBERS Financial, and the PCU Community Foundation. Prizes and gifts A total of 20 door prizes will be given away, and everyone in attendance will receive a free gift. Dinner Enjoy a delicious dinner of Homemade Pot Roast, loaded mashed potatoes, carrots and pea pods, gourmet salad, assorted breads with sweet cream butter, Tiramisu cake for dessert, and coffee, decaffeinated coffee or tea. Milk is available upon request. A cash bar will be available. Please note: Tickets will be collected prior to serving the meal, so be sure to bring yours! Tickets Seating is limited, so buy your ticket early! The cost is $10.00; tickets must be purchased by Monday, April 25 or before they are sold out whichever comes first! You may purchase tickets four ways: ONLINE Use the convenient form on our website at www. postalcu.org. BY MAIL An order form is included in this newsletter. IN PERSON From any Teller. BY PHONE Call or Payment will be deducted from your account. There will be NO REFUNDS on ticket purchases. You do not need a dinner ticket to attend the Business Meeting only. Registration information YOU MUST BE REGISTERED BEFORE the Business Meeting begins at 1:00 p.m. to vote, obtain your gift or be entered into the door prize drawing! You will be asked for identification at the Annual Meeting to establish your membership for voting. Your driver s license, account statement, or this copy of DOLLARS & SENSE showing your name on the address label, will be sufficient. All primary members age 18 and older with at least $1 in a Share Savings account are eligible to vote. Additional joint owners of an account do not qualify. A member must be present to vote. An organization, society, or corporation having a membership in the credit union may cast its vote by one person upon presentation of written authority. Nominations for the Board of Directors are not allowed from the floor at the Annual Meeting. The following candidates have submitted letters of intent to run, and will appear on the ballot at this year s meeting. Three candidates will be selected to serve on the Board of Directors for a three year term. (See candidate biographies on page 5.) Board of Directors Candidates Expiring three year term: Allan J. Brennan* James C. Bryan* Keith E. Hauge* Peter S. Olsen *Incumbent Order Form Please send me Annual Meeting dinner tickets. Tickets X $10.00 = $ PAYMENT ENCLOSED Charge my PCU account: h Savings h Checking Name Address City State Zip Daytime Phone Account Number Mail to: Annual Meeting Dinner Tickets, Postal Credit Union, 8499 Tamarack Road, Woodbury, MN w w w. p o s t a l c u. o r g 3

4 PCU Commits to Meals on Wheels with Donation, Volunteers How important is a warm meal to an elderly or disabled person unable to get out on a cold winter day? Ask any of the Meals on Wheels volunteers at PCU and they will tell you it s very important not just for the recipients, but for them as well. Since their first delivery on July 3, 2003, the 10 volunteers and two backups have never missed a regular Thursday delivery. When volunteers heard about funding challenges the Ramsey County-based program faced, coordinators Jennifer Hanson and Michelle Youngquist approached the PCU Community Foundation for help. Michelle and I serve on the Causal for a Cause Committee and felt the Meals on Wheels program was a perfect fit for the foundation s mission of giving back to our local communities, Hanson said. There is such passion among the volunteers for this program and the relationships that we have developed are very special. It s more than just food, it s about friendship and making sure these neighbors are doing well. The request received overwhelming support, and Hanson and Youngquist recently presented a check for $1,000 to Meals on Wheels representatives Diane Everson and Gigi Fitzpatrick. Every other Friday, PCU employees wear casual clothes to work and contribute $2.00 to the Casual for a Cause fund. Proceeds are then donated to worthwhile local and national causes through the PCU Community Foundation. Meals on Wheels helps people maintain a healthy lifestyle and remain living independently in their homes as long as possible. Volunteers deliver each hot meal at lunchtime, Monday PCU representatives Michelle Youngquist (left) and Jennifer Hanson (right) recently presented a check for $1,000 to benefit the Ramsey County Meals on Wheels program. Accepting the donation was Diane Everson and Gigi Fitzpatrick (center). PCU volunteers have been involved in the Meals on Wheels program since 2003 and have never missed a regular Thursday delivery. through Friday, also providing a daily safety check and friendly interaction. The Ramsey Country program serves an estimated 900 meals a day. Established in 2005, the PCU Community Foundation is a nonprofit 501 (c) (3) serving the greater Twin Cities metro area. Every dollar received by the foundation goes back into our local communities. If you are interested in supporting the foundation, consider making a tax-deductible donation. You can do so online at at any PCU branch location, or by mail. Make checks payable to: PCU Community Foundation 8499 Tamarack Road Woodbury MN Save for Retirement and Win! An Individual Retirement Account (IRA) is a smart way to save for your future. With disciplined savings and its tax advantages, an IRA can help you reach a more secure and comfortable retirement. The sooner you start, the better. PCU offers both an IRA Money Market accounts and IRA Certificates of Deposit (CD). Unlike many financial institutions, PCU offers no account setup fees, no minimum balance fees and no maintenance fees. Simply open or add a minimum of $2,000 in new money to a PCU IRA CD or IRA Money Market and you re automatically entered into a random drawing for one of 10 $100 gas cards.* If you have an IRA or retirement funds at another financial or in a former employer s 401k or pension plan, now is the perfect time to move it to PCU. Opening your IRA is fast and easy. You ll also enjoy peace of mind knowing your IRA is insured up to $250,000 by the NCUA. Call today for more information or visit Hurry, offer ends April 30, * A minimum of $2,000 or more in new money from outside PCU required to open or add to existing account. The following Annual Percentage Yields (APYs) are effective as of March 1, 2011: IRA Money Market up to $2,500 = 0.30% APY. IRA CD yields range from 0.15% % APY depending on initial investment and term. For current rates and official rules visit A penalty may be imposed for early withdrawal. Fees may reduce earnings.pcu reserves the right to debit the account for value of the Gas Card if closed within 90 days of account opening. No purchase necessary. Offer expires April 30, w w w. p o s t a l c u. o r g

5 Meet the Board Candidates The following candidates are running for election to the PCU Board of Directors at this year s Annual Meeting. Allan J. Brennan Allan J. Brennan has been a PCU member since He has been on the Board of Directors since 1996 and prior to that served on the Supervisory Committee for two years. He is chairperson of the Technology Committee and a member of the Asset & Liability and Policy committees. Al states As credit unions are continuing to survive the current conditions of the economy it is imperative that our credit union is competitive, and continues to service our members expectations. James C. Bryan James C. Bryan joined PCU in 1949 and has served as Chairman of the Board for the past 15 years. He attends all board committee meetings and participates in credit union planning sessions. Jim is actively involved in the credit union movement and regularly attends chapter, network, national events and programs to stay on top of changes in the industry. He also volunteers his time and talents to help with civic, church and community activities. Jim firmly believes in the cooperative spirit of credit unions big and small working together. Keith E. Hauge Keith E. Hauge has been a PCU member since Keith has served on the Board of Directors since 1980 and is currently Vice Chairman. He is Chairman of the Asset & Liability committee, and a member of the Policy, Executive/Investment, and Technology committees. Keith was a letter carrier for 37 years before he retired. He was the treasurer for the Branch 28 National Association of Letter Carriers Union for 18 years. He enjoys fishing, gardening and walking. Peter S. Olsen Peter S. Olsen has been a practicing Certified Public Accountant for over 10 years and has lived in the Twin Cities and worked for the same CPA firm, Wipfli, LLP, for the last six years. As a manager in Wipfli s Nonprofit and Governmental Practice, he is in charge of approximately 30 annual audits of nonprofit organizations in seven different states. Peter is also a trainer in the company s external training group. He specializes in accounting topics covering preparing for an audit, knowing the current changes to accounting rules, how to hire an auditor and establishing internal controls in a small accounting office. In the last year Peter has presented at conferences in Atlanta, Syracuse, Las Vegas and Wisconsin along with conducting numerous webinars for participants all over the country. Peter states he hopes to be a resource for PCU and provide financial-related expertise to the Board of Directors. Thinking About Buying a Home But Don t Have 20% Down? That s OK If you re a borrower with less than a 20% down payment, you should consider Single Financed Mortgage Insurance (SFMI). It offers lower monthly payments and less paperwork, the all in one solution. You even get the security of involuntary unemployment insurance at no additional cost. Additional benefits: No monthly borrower paid mortgage insurance Maximum tax deductibility.* Safeguards on your home investment. For more information, contact PCU Mortgage at HOME (4463) or visit Home Buyers Seminar Planned for Hugo Let PCU s home loan specialists answer your questions about purchasing your dream home. Learn about current market conditions and develop a plan to reach your goals. Receive $250 off your closing costs when you finance and close with PCU Mortgage and PCU Title.** PCU Hugo Office Victor Hugo Blvd. N, Hugo MN Tuesday, April 12 6:00 p.m. 8:00 p.m. Saturday, April 16 10:00 a.m. 12:00 p.m. Refreshments will be served. Space is limited so reserve your seat today! Sign up at *Check with your tax advisor for advice on tax deductions. Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply. **Loan must originate and close with PCU Mortgage and PCU Title by April 30, Purchases only, not valid on refinance. Cannot be combined with any other PCU offer w w w. p o s t a l c u. o r g 5

6 Transcript of Annual Meeting available. If you aren t able to attend the May 1 Annual Meeting, you can still find out what happened by ordering a transcript of the event. Simply address your request to: Annual Meeting Transcript, Postal Credit Union, 8499 Tamarack Road, Woodbury MN Need cash but can t always run to an ATM? Your PCU Cash & Check Card enables you to get cash back at the grocery store, gas station or other participating retailer. Just choose DEBIT, enter your PIN (Personal Identification Number) and indicate the amount of cash you would like to receive back. Please note cash-back options depend on merchant guidelines and are not determined by your credit union. As a PCU member, there s never been a better time to save money on your wireless service. Enjoy exclusive discounts on Sprint s wireless plans, including 10% off most regularly priced Sprint individual service plans and 15% off most regularly priced Sprint business service plans. Get started today at or call Time for a little spring cleaning? Don t forget to set aside your gentlyused children s coats for collection this fall. PCU will once again take part in the Salvation Army s Coats for Kids drive. For over 25 years the Coats for Kids program has provided more than 277,000 winter coats and accessories to Twin Cities children. Watch for more details in the next issue of Dollars & Sense. Contributions to Casual for a Cause. Thank you to the following member(s) for contributing to your credit union s Casual for a Cause fundraiser for local charities: Shared Branch member Gary McDaniel. Upcoming causes in 2011 will be: April June: Meals on Wheels July September: Local Area Food Shelves October December: Salvation Army Coats for Kids Please reach into your hearts and wallets to help make a difference in our community. (Editor s note: If you are a long-time credit union member and proud of it, please call Cindy Kurtz at or send an with your name and phone number {please do not include account number} to ckurtz@postalcu.org to be included in a future issue of Dollars & Sense.) Take Control of Your Financial Future, Start a Business. Do you have an exciting hobby or specialized skills you d like to turn into a profitable business? Are you eager to start a new venture but not sure where to begin? Starting a new business may seem like a daunting task, but don t let that stop you. PCU has resources that can help. Pick up A Guide to Starting a Business in Minnesota at any PCU location. This comprehensive resource is a great place to answer initial questions for a new business owner. Within the guide you ll find a wealth of information for starting a new business including: How and where to obtain licenses and permits in Minnesota Resources to help develop and finetune business plans Organizations that offer accounting and tax assistance And much more! Stop by and pick up this FREE guide or contact the Business Services Department to have one sent at , or by , BusinessServices@postalcu. org. Visit for more information on PCU s full line of Business products. Be sure to stop by our booth at your credit union s Annual Meeting on May 1. 6 w w w. p o s t a l c u. o r g

7 Your Money FAQs about MEMBERS Financial Services Content developed by CUNA Brokerage Services, provided by Andy Barnick Q. What is the MEMBERS Financial Services Program? A. The MEMBERS Financial Services Program is a fullservice financial advisory program located at Postal Credit Union offering members retirement, insurance and investment services. Our goal is to help our members achieve their financial goals for themselves and their families. Q. How does the MEMBERS Financial Services Program work? A. A full-time MEMBERS Financial Services Representative is available to meet with you to evaluate your financial needs offer recommendations and coordinate your investment and insurance choices. You may want to tackle just one financial issue today. We can help you: Roll-over your 401(k) or pension plan if you ve changed jobs. Develop a savings and investment plan. Create a retirement income plan to approach those years with confidence. Manage your investments better. Protect your family with life insurance or long-term care insurance. Save for college education costs. Or, you may be looking for help in managing your financial goals. We ll help develop a comprehensive financial roadmap that addresses all the relevant financial issues that you face. Q. Can the MEMBERS Financial Services Program help me with retirement planning? A. Yes, whether you are already retired, getting ready to do so or are just beginning to save for retirement, our program has sophisticated planning software and a wide array of investment products to help you fund the retirement lifestyle you re seeking. We believe everybody has a unique vision of their retirement years and we help you manage your money to support that vision. Q. How do I get started? A. To set a no-cost, no-obligation appointment, call Andy Barnick, the MEMBERS Financial Services Representative, at today. Be sure to bring any documentation that will help Andy understand your situation better such as account statements, tax forms and benefit information. If married, it s best that both you and your spouse attend. Lastly, always bring an open mind and a willingness to discuss the details of your situation. Andy Barnick is a Financial Advisor with MEMBERS Financial Services located at PCU. If you have any questions, or would like to provide feedback regarding the information presented in this article, you may contact Andy Barnick at Representative is not a tax advisor or legal expert. For information regarding specific tax situations, please contact a tax professional. For legal advice, consult an attorney. B2MM-1205-E092 Andy Barnick Your MEMBERS Financial Services Representative Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members w w w. p o s t a l c u. o r g 7

8 All offices closed: Monday, May 30 Memorial Day Monday, July 4 Independence Day PCU OFFICE HOURS Lobby 9:00 a.m. 5:00 p.m. Mon, Tues, Thurs & Fri 10:00 a.m. 5:00 p.m. Wed 9:00 a.m. 1:00 p.m. Sat Drive-thru 8:00 a.m. 6:00 p.m. Mon Fri 9:00 a.m. 1:00 p.m. Sat Call Center 8:00 a.m. 5:00 p.m. Mon Fri MONEY ROCKS! Something to Sing About Join us at any PCU branch on April 21 & 22 for treats, refreshments, give-aways, and much more in celebration of Youth Week. Your child doesn t have an account at PCU? No big deal. Thanks to you, all of your family members are eligible to become a member. It s that easy. PCU is the place to be during National Credit Union Youth Week April 18-23, This year s theme is Money Rock$ at my Credit Union. Whether you re saving for a new guitar, ipod or a college degree in music, PCU can lend a hand on your financial journey. The young and the young at heart are invited to visit PCU during Youth Week for fun, food, prizes and tips for setting and achieving your financial goals. Youth Week Coloring Contest.now Facebook Photo Contest College Savings Planning Seminar Product Specials & Great Deals Personal Finance Information Visit for a complete listing of events and promotion details. Printed on recycled paper containing at least 10% post-consumer paper fibers Denmark Avenue Eagan, MN Victor Hugo Blvd N. Hugo, MN Postal Credit Union. All rights reserved. DS N. McKnight Road 1725 S. Robert Street North St. Paul, MN West St. Paul, MN Tamarack Road Woodbury, MN 55125