QUARTERLY MOUNTAIN IN THIS ISSUE 2014 SPRING. Helpful Tools. Annual Business Meeting. u President s Message. u We Mean Business

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1 MOUNTAIN QUARTERLY 2014 SPRING IN THIS ISSUE u President s Message u We Mean Business u On the Path to Home Ownership u Up Your Financial Game with Our Helpful Tools u Nominating Committee and Annual Business Meeting

2 We are excited to be celebrating 80 years of member service and plan to hold special member recognition events in our branches during the year. CELEBRATING 80 YEARS Helping our members achieve their financial dreams MOUNTAIN AMERICA QUARTERLY NEWSLETTER

3 PRESIDENT S MESSAGE Mountain America s roots go back to Credit unions were relatively new in the United States and were springing up to meet the growing needs of those who were unable to receive financial assistance from banks. When we first opened our doors, there were no actual doors to speak of. Six members of the telephone company joined together and pooled their money so they could provide assistance for co-workers in need. Their total capital was $26, and they stored it in a coffee can. The first loan was for $6, and it was recorded on a scrap of paper. With the nation immersed in the Great Depression, the need for credit unions was great, and we grew quickly. By 1937, we had 311 members and had increased the loan limit to $300. In our 80 years, we ve seen plenty of change, including changes to our name. Originally, we were the Salt Lake Telephone Employee Credit Union. Then in 1984 we merged with Postal Workers Credit Union, resulting in modern day Mountain America. Then in 1988 we merged with Utah State Credit Union. Throughout the years, your financial needs have also changed. Did you know that in the 70s, we briefly launched a checking account product and then discontinued it because our members could not imagine what they would do with this type of account? Now, in 2014, we have one of the few checking accounts that offers rewards. Ten years ago, transactions were limited to the branch environment. Now, we can manage our finances practically anywhere, using just a mobile phone. Recognizing that you needed your money to be as mobile as you are, we were one of the first financial institutions to offer an app and the amazingly popular mobile deposit. As a member, you have made it clear that technology is appreciated. This is why we ve made it possible to start (and complete) loans online. However, you ve also let us know that sometimes you want to go to a branch. Our extensive network of branches spans much of the Intermountain West. Our shared-branching network reaches nationwide and gives you access to more than 30,000 surcharge-free ATMs and 5,000 sharedbranch locations. We are excited to be celebrating 80 years of member service and plan to hold special member recognition events in our branches during the year. We encourage you to track us on social media (either via Twitter or Facebook) to learn more about these fun events. We also encourage you to share your Mountain America memories with us. Thank you for allowing us to serve you. p STERLING NIELSEN, PRESIDENT/CEO 2014 SPRING

4 WE MEAN BUSINESS Many small business owners are aware of the numerous business services provided by large banks and financial institutions. What they may not know, however, is that Mountain America also offers most of those same services. Business owners can have all their personal and business accounts in one place. Moreover, having a loan officer who knows all aspects of a member s financial situation can provide a more intelligent response to requests. Here are a few of the business services Mountain America offers: CASH MANAGEMENT Electronic payment and collections tools can help you manage your cash flow. We offer Automated Clearing House electronic transactions, remote check deposit capability and domestic and international wire capability from your office desktop. SBA & COMMERCIAL REAL ESTATE LENDING We can help finance your business with lines of credit and equipment loans backed by the Small Business Administration. BUSINESS CHECKING & SAVINGS We can help you maximize earnings with a sweep account, automatically transferring funds between checking and an interest-bearing account as needed. INSURANCE SERVICES Our full line of insurance products for business and personal needs include: business liability and key man policies; coverage for building, vehicles, equipment and homes; and workers compensation insurance.* PAYROLL SERVICES Payroll options include affordable payroll outsourcing, with comprehensive full-service payroll tax administration and compliance assistance, as well as in-house, web-based payroll servicing. MERCHANT PROCESSING The ability to process credit cards is a must these days. Mountain America can provide you with payment processing through all major credit card issuers. We even offer mobile payments, for card processing away from your office. For more information, contact a business account executive at or go to com/business. p * Insurance products offered by Mountain America Insurance Services, LLC, are not a deposit, not an obligation of or guaranteed by any credit union, not insured by the NCUA, and in the case of life insurance, may go down in value. Purchasing of insurance products will not affect the extension of credit in any way. MOUNTAIN AMERICA QUARTERLY NEWSLETTER

5 The prospect of owning your first home stirs a lot of excitement and a lot of questions. Here are a few that may be on your mind: Home On the Path to Ownership Why Would Buying a House Be a Smart Move for Me? The mortgage industry has been picking up over the past year, and buying a home is still a good investment as long as you buy and borrow smart. That means not getting in over your head, so determine what you can handle financially. Also consider the pros and cons of homeownership. You ll build equity, but you ll also be responsible for maintenance and property taxes. When Should I Talk to a Lender? Too often first-time buyers start by shopping for a house. That s like going out to look at Cadillacs, when you should be shopping for a Chevrolet. Determine what you can afford before you start house shopping so you ll know exactly how much house you can afford. What Are My Mortgage Options? First-time homebuyers have a wide variety of financing options, but two are the most common: u Fixed-rate mortgage The interest rate stays the same throughout the life of the loan, typically 15, 20 or 30 years. Your monthly payment will remain the same during that time, which is ideal for buyers who plan on staying in the home for a long period. u Adjustable-rate mortgage The interest rate starts a bit lower and then may go up or down at specified intervals. This option may be better if you don t plan on living in one place for very long. How Can Mountain America Help? At Mountain America, we offer a number of fixed-rate and adjustable-rate mortgages to meet your specific needs. We also have a unique program designed especially for first-time homebuyers. Our 100% First-Time Home Buyer Loan Program can get you into a home with minimal out-of-pocket expenses as little as $1,000 down and a lower monthly payment because you aren t required to get mortgage insurance, which usually costs 1 2 percent of the outstanding principal amount of the loan divided into 12 monthly payments. To find out more about Mountain America s 100% First-Time Home Buyer Loan Program or other mortgage options, contact a mortgage expert toll-free at p 2014 SPRING

6 UP YOUR Financial Game WITH Our Helpful Tools Without a good handle on personal finances, we tend to make poor spending decisions, don t save for emergencies, max out credit cards, pay higher interest rates, have our identities stolen, make uneducated investment choices and underestimate our financial needs in retirement. Fortunately for members of Mountain America, the tools to become financially savvy are easy to get and, more importantly, easy to use. Here are some of the tools we provide to help you up your financial game: MOUNTAIN AMERICA QUARTERLY NEWSLETTER

7 1. Auto Center on macu.com The best deals go to the best-informed car buyers. With Mountain America s Auto Center, you can equip yourself with the knowledge for successfully navigating every aspect of the buying and selling process from shopping and financing to insurance and maintenance. NOMINATING COMMITTEE 2. Mountain Money Blog Written by Mountain America experts, our top-rated blog (blog.macu. com/) has a wealth of information. Articles range from tips, like Involving Your Kids in Fun Money- Saving Resolutions, to critical information like, Home Improvement Scams. 3. Help Center on macu.com Looking for quick answers to your financial questions? Check out our online Help Center. Simply enter your question (e.g., What is a Home Equity Line of Credit? ) and receive a wealth of information on that topic. 4. Mountain Money Blog for Students Parents may have the perception that their kids know it all, but when it comes to wanting financial advice, Gen Y is at the top of the pack. They want to know how to better manage their finances. Our student blog (blog. macu.com/student) is tailored to the needs of our younger members, hosting articles such as Part- Time Jobs for Students, How Deep Are You Digging: Student Loans and Buying Your First Car. 5. Learning Center on macu.com You can find a variety of tools in our new Learning Center, from calculators to in-depth financial literacy courses. We have video tips, BALANCE Track and 8 Pillars to Financial Greatness courses, financial literacy magazines and more. p The Nominating Committee has selected three incumbents Mr. Roger Andrus, Mr. Bruce Reading and Mrs. Charlyn Sorensen to fill the positions available on the Board of Directors. The Supervisory committee will call for nominations from the floor and a ratifying vote of the members at the Annual Meeting, which will be held on Tuesday, April 15, 2014, at 6:00 p.m. in the auditorium of the H. Floyd Tanner building (see address below). These candidates have a variety of experience and expertise that will continue to enhance the current Board and provide the balance necessary to achieve the goals of Mountain America. The Board looks forward to serving you and appreciates the opportunity to do so Annual Business Meeting The Board of Directors is pleased to announce that the Mountain America Credit Union Annual Business Meeting will be held on Tuesday, April 15, 2014, at 6:00 p.m. in the auditorium of the H. Floyd Tanner building at 7167 South Center Park Drive, West Jordan, Utah. All Mountain America members are invited to attend. p 2014 SPRING

8 BOARD OF DIRECTORS Roger P. Andrus, Chair Lynn Ure, Vice Chair Charlyn Sorensen, Secretary J. Bruce Reading Scott J. Burt Diane Mansfield Charlie Fulks Michael Allen Sam Blundell SUPERVISORY COMMITTEE David Swan, Chair Wade Higgs Julie A. Wray Joel R. Steadman Gordon D. Walker Mountain America Corporate Offices P.O. Box 9001, West Jordan, UT Find Us: facebook.com/mountainamerica Follow Us: twitter.com/mountainamerica Subscribe to Us: blog.macu.com Watch Us: youtube.com/mountainamerica Call Us: Service Center Toll-Free CARL CARL (2275) Investments Mortgage Loans Business Services Student Loans Insurance Reminder: There s still time to apply for our Paul R. Ball Scholarships. For details, visit macu.com/scholarships. Federally insured by NCUA. Loans subject to credit approval. 07MTN095213