join us at our whitehall branch grand re-opening celebration! · join us at our whitehall branch...
TRANSCRIPT
A Quarterly Publication for KEMBA Financial Credit Union Members
Join us at our Whitehall branch grand re-opening celebration!
Winter 2010
Come celebrate January 25-30, 2010
A brand new Whitehall experience is here and we want to celebrate with you! Stop by our newly remodeled Whitehall branch to see all the exciting changes. We have installed a new hospitality area with
We will conclude our week-long celebration with a special Member Appreciation Event.
below. They are our way of saying thank you for your membership! New Whitehall seating/lobby area
7.99%APR*
Rates as low as
ck rewards
fer fee
fee
P s, o
payme ts
for 90 days!
12 1.99% APR*
24 2.99% APR
36 3.49% APR
48 3.99% APR
Over 48 m 4.49% APR
GRAND RE-OPENING CELEBRATION!4220 East Broad Street
Saturday, January 3010 a.m. – 1 p.m.
forfree pizza,
T.V.!
Transfer your auto loan and save!
*APR=Annual Percentage Rate. For qualified borrowers only. Minimum loan balance of $3,500, minimum credit score of 665, and automatic payment required for special pricing. Maximum loan to value of 125%. Document preparation fee of $99 waived for qualified borrowers meeting above requirements. Rates valid as of January 1, 2010, and subject to change. Offer not validon any existing KEMBA auto loans or with any other special offers or coupons. One coupon per household. KEMBA reserves the right to change this offer at any time. KEMBA membershiprequired. Offer valid through January 31, 2010. Promo Code: Newsletter ALR Offer
*APR=Annual Percentage Rate. Rate accurate as of January 1, 2010, and subject to change. For qualified borrowers only. Final rates contingent upon member credit score. Fixed and variablerate credit cards available. KEMBA reserves the right to offer an alternative credit card product. For qualified borrowers only. Double cash back rewards offer valid on balance transfers made to your KEMBA credit card through January 31, 2010. Offer not valid on any existing KEMBA credit cards or with any other special offers or coupons. One coupon per household. KEMBA reservesthe right to change this offer at any time. KEMBA membership required. Offer valid through January 31, 2010. **1% cash back rewards paid once per year. You will receive 1 point for every $1 you spendor transfer to your credit card. 100 points=$1 cash back. Minimum to receive reward is 2,500 points. Account must be in good standing at time of payout. Promo Code: Newsletter CC Offer
Credit Cards - Earn Double Cash Back Rewards on all balance transfers
Coupon must be presented or mentioned at time of application.
Coupon must be presented or mentioned at time of application.
Special Member Appreciation Coupons Expires January 31, 2010
**
With the new year comes
New Year’s resolutions and
KEMBA would like to help
you with yours. Speak up
and tell us...
How can KEMBA
help you improve
your financial
life in 2010?
Email your name and
your answer to
you will be entered for a
chance to win a $250 Visa
Gift Card from KEMBA.
Win a ®
Please note: Your answer will
Franklin J. Yensel, CRPC®, CLU®
Financial Advisor
Whether you are just entering the workforce and not sure how to
approaching retirement and need
® ®
Plan for your future with KEMBA Retirement Planning and Investment Services
and investment questions and work with you to help you achieve your goals.
available to any KEMBA member concerned about retirement or investments. If you have questions or would like to schedule an appointment
KEMBA’s service facilities will be closed on Monday, February 15,
please visit any of our 50,000 surcharge-free KEMBA, Alliance One, CO-OP, or MoneyPass ATM locations. Locate one near you at www.kemba.org.
HOLIDAY CLOSING
Winter 2010
Prepare for your retirement with an IRA
With an IRA, you may be able to deposit as much as $5,000 in a Traditional or Roth IRA, or up to $6,000 if you are over the age of 50.*
Call 614.235.2395 or 800.282.6420, option 4, or stop by a KEMBA branch for more information.
*Please consult a tax advisor.
At KEMBA planning for your retirement is important, and can never be started too early. We know that the process can seem overwhelming, but KEMBA is here to help!
Traditional IRAs
Roth IRAs
Coverdell (Education) Accounts
This provides tax-deferred earnings. If you qualify, you may deduct your contributions from your taxable income.
These are a bit more flexible. They do not offer the immediate tax benefit of a Traditional IRA, but all of your principal dollars contributed, as well as the earnings, are tax-free.
This account allows you to save up to $2,000 a year for your child or grandchild’s educational expenses at any grade level. Earnings on these accounts are tax-deferred.
How can KEMBA help me?We can provide all of the information you need to help you plan for your future. Your IRA money will be protected up to a total of $500,000 through federal and private insurance, offering peace of mind.
Why should I open an IRA?With an IRA, you gain some excellent tax benefits. Compare below to find out which IRA works best for you.
Below are a few of the changes you will notice as a credit card holder:
Many issuers are raising minimum payments from 2-3% to as high as 5-6%. KEMBA will continue to keep our minimum monthly payment amount at 2.5% of the balance or $10, whichever is greater.
Card payments made by 5 p.m. on your due date must now be considered “on time” according to the new rules. KEMBA has always posted payments this way, with no morning cut off.
Credit card bills must now be sent out no later than 21 days before the due date. At KEMBA, we have always sent out your credit card bill 21 days before the due date to ensure that you have plenty of time to make your payment without incurring any penalties or late fees.
Double-cycle billing, a process where credit card issuers use your previous month’s balance to calculate interest charges for the current month, will now be illegal. KEMBA has never participated in this deceitful practice.
*APR=Annual Percentage Rate. Prime=3.25% as of January 1, 2010. The Prime Rate used to determine your APRs for purchases, balance transfers, and cash advances is the Prime Rate published in the Wall Street Journal on the twentieth (20th) calendar day of the previous calendar month. Final rates contingent upon member credit score. KEMBA reserves the right to offer an alternative credit card product. †1% cash back rewards paid once per year. You will receive 1 point for every $1 you spend or transfer to your credit card. 100 points=$1 cash back. Minimum to receive reward is 2,500 points. Account must be in good standing at time of payout. ††APY=Annual Percentage Yield. KEMBA credit card rates and Rewards Savings account rate of 10.00% APY current as of January 1, 2010, and subject to change at any time.
The more things change...
For KEMBA Platinum Rewards Credit Card holders, all the same great benefits you love will continue:
Our great rates! KEMBA has variable rates as low as 7.99% APR*.
No balance transfer fee and no annual fee
New Credit Card Rules: What do they mean for you?In the past few months there has been a lot of talk about new credit card legislation. Many parts of the Credit Card Accountability, Responsibility and Disclosure Act will go into effect in February, but how does it affect you as both a consumer and a KEMBA member?
A new minimum payment disclosure on statements will show you how long it will take to pay off your card if you just make the required minimum payments.
Our rewards program: You will still earn 1% cash back rewards on all purchases and balance transfers,†
which are deposited into a reward savings account that earns an amazing 10.00% APY††!
...the more they stay the same.
As a member of KEMBA Financial Credit Union, a member-owned
re-election. Please take some
Voting Instructions for KEMBA’s 2010 Board of Directors
Voting EligibilityTo be eligible to vote you must:
Voting InstructionsTime frame:Methods:
Procedures:
- Your login ID - Your password MM/DD/YYYY format
To vote online:
To vote by phone:
If you have any questions or problems with the voting process, please contact us at 614.235.2395 or 800.282.6420, option 4.
WednesdayMarch 3, 2010
6:00 p.m. KEMBA’s
Gahanna, OH 43230
KEMBA’s 77th Annual
Meeting
Light refreshmentswill be served.
If you would like to
2010 KEMBA Board of Directors Candidates
Vipin N. Patel
John A. Haugen
Marjorie H. Brant Jeffrey R. GaleMs. Brant has been a Credit Union member for 35 years and has been actively involved with credit union board governance over the last 12 years. Her credit union volunteerism as a Board member includes eight years serving the members of Core One Credit Union and the last four years serving the members of KEMBA Financial Credit Union. Marjorie has served in various capacities and positions, including Board Chairman and chairing many committees. She currently is the Chairman of KEMBA’s Policy Committee.
Mr. Gale has been a member of KEMBA
Financial Credit Union for more than 23
years and joined when he was employed
with the Kroger Company. He has been
on KEMBA’s Board of Directors since 1998
and held the office of Board Chairman for
nine years concurrently. Jeff has actively
been involved on many Board committees
as well.
Mr. Haugen has been a credit union member for more than 30 years and currently serves on KEMBA’s Board of Directors. During his six years of service as a Board member, John has actively participated or chaired various committees including the Nominating, Policy, and Budget Committees.
John is a small business owner providing auditing and collection services to major
Marjorie retired from Nisource, formerly the Columbia Gas System, in 2003 where she served in the role of General Counsel for the Ohio and Kentucky distribution companies. She continues to practice law and to actively teach as an adjunct professor at Jacksonville State University and Tiffin University. Her professional career also includes experience in contracts and litigation management, communications, and people management skills.
Marjorie’s education background includes a Juris Doctor from The Ohio State University, Master of Library Science from the University of Pittsburgh, and a Master of Arts, English from Purdue University.
He is currently employed with Valassis as the Client Marketing Manager, and he is a member of the Board of Education for Westerville City Schools. Jeff’s professional background includes experience in human resources, technology, and retail store management.
Jeff graduated from Otterbein College where he earned a Bachelor of Arts with majors in Business Administration and Speech Communications. He and his wife Susan reside in Westerville, and they have three children.
manufacturers and has 30 years of experience selling products and services to credit unions. In addition to his experience in managing his own business, John’s professional background includes knowledge in retail marketing and budgeting.
John attended college at the University of Minnesota and holds a Bachelor’s degree in Liberal Arts. He resides in the Clintonville community with his wife Cindy.
Dr. Patel became a member of KEMBA in April 2008, but his awareness and participation in credit unions spans more than 25 years, while employed with Lucent Technologies and AT&T. His civic and volunteer activities include being an executive committee member of 4A (Asian American for Affirmative Action), acting as judge and advisor for science and engineering fairs, past member of the Alliance of Black Lucent Employees and supporting the I Know I Can (IKIC) organization to send high school students to college.
Vipin retired from Lucent Technologies in 2007 where he last held the position of Consulting Member of Technical Staff. He continues to utilize his engineering and technology experience as a program manager for Mahindra Satyam. His educational background includes a Masters of Business Administration from St. Joseph’s University and a PhD and Masters in electronics from Dundee University in Dundee, Scotland. In addition to his professional experience in technology and Business Administration, Dr. Patel’s professional background includes improving
Robert E. MartinMr. Martin has been a credit union member since 2001. His experience serving on other boards and associations includes eight years serving as Treasurer and President for the Columbus Ultimate Disc Association, Ambassador Member for the Dublin Chamber of Commerce planning committee, and board member and coach for Clintonville youth soccer and baseball associations.
Rob is the President of Martin Consultants, a local business specializing in retirement plan design consulting and administrative services. He received his Bachelor of Science in Mathematics from The Ohio State University and is an accredited retirement plan agent and qualified pension administrator. In addition to his retirement planning experience and knowledge, Rob’s professional career and skill set includes small business management and practices and retirement plan compliance and tax reporting.
Rob resides in the Clintonville community with his wife Cynthia and family.
productivity, business analysis, and process improvements and cost reductions.
Dr. Patel and his wife Jyotika reside in the Gahanna, Ohio area.
555 Officenter PlaceP.O. Box 307370Gahanna, OH 43230
24 Hour Loans - option 2Member Services - option 4
Instant Access - option 6
How to Reach Us
To find the KEMBA location nearest you, visit us online at www.kemba.org or call 614.235.2395 or
800.282.6420.
burden! If you plan to pursue a college education, or are currently enrolled in higher education, we encourage you to apply for KEMBA Financial Credit Union’s annual $2,000 scholarship.
Applicants are required to answer questions and submit an essay that addresses the
When you submit your KEMBA scholarship application, you will not only be eligible to win KEMBA’s competition, but you will also have the opportunity to obtain further scholarships.
th
After we select our KEMBA scholarship winner, all of our entries will be sent to the Central Ohio Chapter of Credit Unions to participate in their annual scholarship competition.
This year the Central Ohio Chapter will be awarding six $1,000 scholarships. The winner of the Central Ohio Chapter Scholarship is then forwarded on to the state
$2,500 scholarships.