VSECU is coming to St. Johnsbury INSIDE: Anyone in Vermont can join. Come be part of our story. Online and in branch services available (yes, we have mobile). VGreen loans for solar, vehicles, energy improvements and more. Why choose a credit union over a bank? How VSECU is redefining banking. What is a Credit Union? A credit union is a financial cooperative that is owned by its members – the people that do their banking at the credit union. Unlike a bank, where outside stockholders reap the profits, a credit union does not have outside stockholders to pay. Profits from a credit union go back to the member owners in the form of higher saving rates, lower loan rates, and more affordable services. Look inside to see if joining our credit union is right for you. How are Credit Unions Different From Banks? Why bank when you can VSECU? Credit unions are an alternative to traditional for profit banking institutions. The main difference between a credit union and a bank is “form versus function.” Both may function in the same way by providing deposit and loan services but they are formed differently in many aspects. VSECU has been a Vermont member owned credit union since 1947. Over the years laws have changed so that credit unions can serve a greater number of people. This gives Vermonters more options when choosing their financial institution. A Credit Union Not for profit banking Owned by its member customers Volunteer Board of Directors Members vote for the Board of Directors Deposits are federally insured by the Federal Government State chartered credit unions are regulated by the Vermont Department of Financial Regulation A Bank For profit banking Owned by outside stockholders Paid Board of Directors Customers do not have a say in the Board of Directors Deposits are federally insured by the Federal Government State chartered banks are regulated by the Vermont Department of Financial Regulation Investment, Insurance & Retirement Services Since 2008, after the Great Recession, we’ve seen Vermonters pay down debt and save more to protect their financial future. Today, our economy has improved and consumer sentiment is more positive. We are finding that more of our members are interested in learning how to help their money grow, preserve their savings and provide protection for the future of their families. If you want to explore working with a registered financial representative who works for our credit union members, we’ll have an office in our new St. Johnsbury branch to serve you. This service is perfect for people who are interested in the following: •Rolling over existing 401K’s •Developing a retirement income plan •Opening IRA accounts •Funding for college education •Investing in mutual funds & equities •Protecting the value of your estate •Purchasing life insurance & annuities •Managing your investment portfolio Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA / SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CBSI is a registered broker/dealer in all fifty states of the United States of America. The representative may also be financial institution employee that accepts deposits on behalf of the financial institution. FR111322-8218 We are the first and only credit union in Vermont that can offer membership to every Vermonter. Everybody who lives or works in Vermont can join and become a member. •You are an owner of the credit union. •You won’t be banking with a bank. •You enjoy the benefit of profits – not some outside stockholder. •You will be dealing with employees who are in Vermont. •You will experience decision making about your loans in Vermont – not some out of state call center. •You get great rates on loans and deposits. •You pay less in fees compared to most banks. •You get to vote for your Board of Directors. •You have a say and voting rights at our Annual Meeting. •You are a member of a cooperative – people helping people. VBiz VBiz is a team of individuals dedicated to helping small business and nonprofit VSECU members. If you are a small business owner looking for a banking alternative for your business accounts, business loans or merchant services, we can help you. Our VBiz team understands how important time and convenience are to every business owner. That’s why we offer a full line of loan and deposit products as well as convenient services to meet your business needs. We’re Redefining Banking The One Savings Account Every Vermonter Should Have We believe that every hard earned dollar should be treated the same regardless of who you are or how much money you have in your savings account. We pay a premium rate on the first $1,000 in your share savings account to jumpstart your savings. According to Bankrate¹ the national average savings or passbook account interest rate is 0.08% APY. Compare that to earning 3.00% APY on your first $1,000 saved at VSECU! It makes sense for every Vermonter to have a savings account at VSECU. Even if you already have an account elsewhere there’s no reason not to open a savings account with us and let your money earn more. 3.00% APY on your savings up to $1,000 The Best Credit Card for Vermont The VERMONT Platinum Visa® credit card is truly unique. It’s the only credit card that offers a lower rate on Vermont based purchases and a great standard rate when you use it outside of Vermont. •No Annual Fee. VGreen: Loans for a Greener Life The state of Vermont is committed to improving the energy fitness of homes to help keep our state green and clean. At VSECU we share this commitment and want to be part of that solution. We are the only statewide financial institution with a specific energy savings loan program designed to help support your energy efficiency or alternative energy dream or project come true. Our VGreen loans offer discounted rates and extended terms that can help you finance home energy improvements, solar installations, heating systems, energy-efficient appliances, and green vehicles. From mortgages and home equity loans to personal loans we have the financing that can fit your budget and make these projects and goals a reality. We’ve become a recognized solution among industry leaders around the state and are invited to speak at conferences, energy events and community energy fairs to discuss our VGreen program. We show people how they can afford to make their home more energy efficient. Interested in a home energy audit or a solar installation? Need help trying to figure out how to afford making your home energy improvements? We can help! For information about the VGreen loan program and how we can work with your community to encourage home energy improvements contact Laurie Fielder at 802/800-371-5162, ext. 3136 or lfielder@vsecu.com. You can find more information about VGreen on our website at www.vsecu.com/vgreen. •It rewards buying local – keeping our Vermont business communities thriving. •Supports Vermont and Vermonters. •Discounted rate of 6.50% APR for all Vermont based² purchases. To open a business savings or checking account with us stop by our new branch or call 802/800 371-5162 and we’ll explain the many options available. If you’re looking for a business loan you can contact one of our business lenders directly: •Standard rate of 10.50% APR for all other purchases. Scott Nichols, VP Business Lending: 802-371-3104 ¹Bankrate.com – rates as of October 23, 2013. APY = Annual Percentage Yield on Share Savings account effective 12/1/13, subject to change after account opening, and will vary depending on the balance in the account. APYs as follows: For balances greater than $1,000 up to $10,000 - 3.00% to .39%; greater than $10,000 up to $25,000 - .39% to .25%; greater than $25,000 up to $50,000 - .25% to .25%; and greater than $50,000 - .25% to .32%. Minimum opening deposit is $25. Fees could reduce earnings. Eun-Young Denny, Business Lender: 802-371-3109 •Up to $15,000 line of credit. APR = Annual Percentage Rates are variable, effective 12/1/13 and can change monthly based on the Wall Street Journal Prime Rate plus a margin of 3.25% for the Vermont Based Rate and 7.25% for the Standard Rate. ²The Vermont Based Rate is contingent on, and applies to purchases identified by the state code used by the merchant’s processing system. All transactions processed by merchants with a Vermont state code will receive the Vermont Based Rate. Mobile Banking App with Mobile deposit VSECU’s mobile app allows you to make a deposit, transfer funds, find a branch or an ATM, all from your mobile device. Depositing funds into your VSECU account is as easy as taking a picture. With our Mobile Deposit feature you can easily deposit funds into your account any time of the day or night simply by taking a picture of a check and uploading it. Fast, easy and secure, banking with VSECU on your mobile device is perfect for busy lifestyles and convenient for those times you can’t get to a branch. Complete with standard Mobile Banking capabilities including viewing account balances, transferring funds, making VSECU loan payments or locating an ATM, the VSECU Mobile Banking app keeps you in control of your finances. Look for the VSECU app in the iTunes or Google Play store. ATMS in Your Area You can find an ATM close to you with convenient access to nearly 30,000 nationwide Co-op Network ATMs and over 600 ATMs located in Rite Aid® stores throughout Vermont, New Hampshire and New York. Use our mobile app to find a branch or an ATM wherever you are. www.VSECU.com VSECU is Coming to Town Along with most of St. Johnsbury these past few months, we’ve been under construction. Our location at 1036 Memorial Drive will be ready to open in early 2014. We’re shooting for a January open date and will keep you posted as the finishing touches are completed. 1036 Memorial Drive St. Johnsbury Branch Business Hours: Monday – Friday 9:00am to 5:00pm Saturday 9:00am to Noon Community Involvement We are proud to support the communities and people of Vermont. We do this by supporting your local events or by bringing events to your community, like Shred Saturday, where our credit union provided free shredding services for everyone. 802/800 371-5162 Call Center Hours: Monday – Friday 8:00am to 6:00pm Saturday 9:00am to 1:00pm Get Ready: Open Your Account Online Now at www.vsecu.com You can become a member owner before we open the doors at our new branch. It’s easy. Visit our website www.vsecu.com and click “Become a Member.” Use the promotion code “STJ” when you open your account and we’ll send you a coupon for a free gift that you can pick up when presented at the branch after we open our doors. Then, after we open, stop by and meet our friendly staff who will be happy to help you save money. Human Resources/ Career Center We are always looking for talented and local people to work for us. We would particularly like to hire individuals from the St. Johnsbury and Northeast Kingdom area to work at our new branch. We offer both full and part time positions and have great employee benefits. Check our website regularly to see a list of current openings at the credit union. You can also send a cover letter and resume to: VSECU Human Resources, P.O. Box 67, Montpelier, VT 05601. Products & Services Savings | Checking | Certificates of Deposits | Auto Loans | Secured Loans Credit Card | Bill Payment | Online Banking | e-Statements | Mobile Banking Home Equity Loans and Lines of Credit | Mortgages | Business Accounts/Loans Investment Planning | Green Financing Program | Fuel Buying Program This credit union is federally insured by NCUA. Through VGives, our giving program, Vermont organizations are encouraged to submit requests for financial support. We focus our giving on sustainable principles for all Vermonters including food, housing, financial education and warmth. Our gifts range from $50 to several thousand dollars to support communities all over Vermont. When you become a member of our credit union you’ll be able to help direct part of our giving budget by voting for the charity of your choice. Check out our website and Facebook page to learn more. Find Us in Person Berlin 365 Paine Turnpike North Brattleboro 499 Canal Street Burlington 86 Pearl Street Montpelier One Bailey Avenue Rutland 72 Seward Road St. Johnsbury 1036 Memorial Drive Waterbury 27 South Main Street Williston Branch 1755 Essex Road Find Us Online www.vsecu.com facebook.com /vsecu youtube.com /vsecu @vsecu www.VSECU.com