Gmcu Spring 2007 Newsletter

Board of Directors

Offices MORA 112 S. Lake St. Mora, MN 55051 (320) 679-3863 MILACA 400 3rd Ave. SW Milaca, MN 56353 (320) 983-2511 ISLE P.O. Box 697•390 Isle St. W. Isle, MN 56342 (320) 676-3607

Hwy. 101 S

Supervisory Committee Marjorie Olson, Chair Carol Allman Terry Dalbey Jack Sahlstrom

To Rogers 

Bob Oehrlein Chairman Jason Horrigan, Vice Chair Russell Mills, Secretary Steven Ahlness, Treasurer Carl Anderson, Director John Sandy, Director Dennis Schulz, Director Darla Stenstrom, Director

Elk River Dodge Ford

171st Avenue

The New Elk River Branch Hwy. 169 N

is the official publication of Greater Minnesota Credit Union.

To Milaca 

Quarterly Interest

Quarterly Interest

“Discover the Difference” President’s Report As we begin our 73rd year of service to our member owners it is important to recall what a credit union is. Credit unions are democratically controlled member owned financial institutions. Each member is allowed one vote no matter how much money they have deposited in the credit union. Members elect a Board of Directors that is responsible for setting the direction of the credit union and hiring the credit union’s CEO.

--The  Most Frequently Asked Questions -Bill Pay  How do you enroll into Bill Pay:

Access your account on-line at www.gmcu.com. Go to Bill Payment. Choose “Power Pay Bill Payment”. The system will take you step by step though the process. Once you have enrolled, you will need to wait 24 hours before making a payment.

 What are the types of payment, and when are transactions processed?

There are two types of payment – CHECK and ELECTRONIC. If at any time the information is not complete or inaccurate, the payment will default to a check method.

 How are Holidays and weekends handled?

Bills do not get processed on holidays or weekends. If a SCHEDULED bill payment falls on a holiday or weekend, it will be paid on the Friday BEFORE the weekend, or the last business day BEFORE the holiday.

 Can an existing payee, that is already set up, be edited?

The only thing that can be edited on an existing payee is the alias name on the account, and the account number. If the customer wants to change anything else, the payee must be deleted and re-entered.

 How long does it take a payment to reach the payee?

For an ELECTRONIC PAYMENT, allow 3 to 4 business days from when the payment is submitted. For a CHECK, the check will be in the mail on the same day the payment is submitted, if it is entered before 12 noon CST. Allow 7 to 10 business days for a check payment. (Just a note – we have no control over the U.S. Postal Service).

PINE CITY 900 Main St. S. Pine City, MN 55063 (320) 629-1178

 Can customers place stop payments for Bill Pay checks?

Monday-Thursday Lobby: 8:30 am-4:30 pm Drive-thru: 8:00 am-5:00 pm Call Center: 7:30 am-5:00 pm Friday Lobby: 8:30 am-6:30 pm Drive-thru: 8:00 am-6:30 pm Call Center: 7:30 am-6:30 pm Saturday Drive-thru: 8:00 am-12:00 pm Call Center: 8:00 am-12:00 pm

Vol. 24 Issue 2

Yale Court

ELK RIVER 555 Railroad Dr. Elk River, MN 55330 (763) 441-3842

1-800-808-2830 www.gmcu.com Hours

Spring 2007

To Anoka  Hwy. 169 / 10 East

Yes. After the check is printed and mailed, the payment history will show the check number for that payment. The stop payment would be added in the same manner as for a regular check written out of the customer’s checkbook.

 When are funds for payments deducted from the member’s account?

For an ELECTRONIC PAYMENT, funds are deducted from the member’s account the same day that the payment is sent, if the payment is sent before 12 noon CST. Electronic payments submitted after 12 noon CST are deducted the next day during bill pay processing. CHECK payment funds are deducted from the account when the check clears the account.

Questions, please call the Call Center at 1-800-808-2830 and we will assist you.

CirCUs Club Rewards Program The CirCUs Club Rewards Program rewards members for saving money. Kids age 0-12 can start collecting stamps on their Rewards Card to keep track of points that they receive for deposits. They use those points to earn prizes. Look for Double Rewards during National Credit Union Youth Week, which is celebrated April 2327. We invite you to stop by your local GMCU office during that week and get the kids started on the CirCUs Club Rewards Program. There will be treats, activities and prizes for the kids all week.

The Board oversees : • The financial condition of the credit union • The operating policies of the credit union • The investments of the credit union • The direction of the credit union The Board annually appoints individuals to serve on our Supervisory Committee. This committee’s responsibilities are quite different from the Boards. They officially report to the Board but are independent of the Board. Greater Minnesota Credit Union is very blessed to have an outstanding group of Volunteers serving in their elected and appointed positions.

Rewards Card For every $10 you deposit you will get a stamp on your Rewards Card worth 1 point (2pts. during Youth Week).

2007 will be another exciting year for our credit union. After many years of searching, we finally purchased real estate in Elk River upon which we will build our branch office. This location (see back page), very desirable and convenient, is located on Highway 10 and highway 169, just east of highway 101. We are currently looking at a spring construction start and, barring any delays, plan to have the facility open in December 2007. The members using the Elk River office and our staff will now have a state-ofthe-art facility that will be much more functional and accessible.

Bronze Level Save $50, or 5 points Silver Level Save $100, or 10 points Gold Level Save $250, or 25 points

Our staff has several new and retooled services coming out this year. You will see a more complete package of services put in place to meet all of our membership’s financial needs.

Questions & Answers Q: What prizes are available? A: Prizes are on display at all GMCU branches.

Thank you for your continued support and loyalty. Credit unions present the financial alternative to commercial banks that the American consumer needs, wants and deserves. You and your children are the future of the credit union movement. GMCU is here to serve you and your needs. Please let us know how we can serve you more fully.

Q: What if I forget my Rewards Card? A: We can stamp and initial your deposit slip and you can bring that with you next time to receive your stamps. Q: What if I lose my Rewards Card? A: Put it in a safe place so that you do not lose it. We will not be able to redeem your points for prizes without your Rewards Card.

Steve Ahlness, CEO/President

7 7 7

7 year term

LUCKY NUMBER 7 YEARS

PERCENT

7.00% apr*

THOUSAND

7,000 minimum

Cars. Boats. RV’s. Toys. Home Equity Loan. Home Improvement Loan. If a low payment is what you need, we can help! Our Lucky Number 7 promotion allows you a longer term, so that your payments can be lower. With lower monthly payments, you can afford:

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New ATM and CheckCards Effective April 16, 2007, Greater Minnesota Credit Union (GMCU) will expand its surcharge-free ATM network through the CO-OP Network and its merchant Personal Identification Number (PIN) services through Pulse. You’ll now have access to over 400 ATMs in Minnesota and 25,000 nationwide that are surchargefree. This means that your current ATM or CheckCard will not work after April 15, 2007, but the benefits with the new card will be great! Your new ATM or CheckCard will be in your mailbox the week of April 9, 2007. You will not receive both cards. If you have an ATM card, you will receive an ATM card like the one above. If you have a CheckCard, your new CheckCard will look like the one to the right. PINs are generated automatically by the issuer. You should receive your new PIN about two days after you receive your new ATM or CheckCard. As an ID Theft security precaution, PINs are unknown to Greater Minnesota Credit Union. GMCU has made every effort to keep your PIN the same, however we cannot guarantee that this will happen. We regret any inconvenience this may cause.

Home Improvements!

To activate your new card, just follow the instructions to which the cards are attached. For more information, contact our Call Center at 800.808.2830 or visit any branch.

Upgrade your Boat!

GMCU’s 72nd Annual Meeting Greater Minnesota Credit Union’s 72nd Annual Meeting will take place:

A Vacation Worth Remembering! To get started on life’s little luxuries, give us a call at 800.808.2830, apply on line at www.gmcu.com or visit any branch.

Day: Date: Time: Place:

Monday April 16, 2007 7:00 p.m. Grace Lutheran Church 301 Forest Ave E Mora, MN

Agenda: • Annual Business Meeting • Light Meal • Prize Drawings

We encourage you to attend and exercise your rights as a member. *APR = annual percentage rate. New Money Only. Fixed Term. Credit restrictions apply. All rates as-low as. Example, $7,000 loan, 7.00% apr, 7 year term, your monthly payment would be approximately $105.65. Promotion can end at any time. Cars, Boats, RVs and Toys must be 2005 or newer. Home Equity and Home Improvement loans 80% Loanto-Value

Help the local Food Shelf. Please bring a non-perishable food item.

Rate Watch Loans Auto, New - 2005

5.89% APR* Boat & RV, New - 2005 ............................(as low as) 6.99% APR* Auto, Boat & RV, 2004-2000 ............................(as low as) 7.99% APR* Unsecured ............................(as low as) 11.99% APR* Visa ............................(as low as) 10.99% APR* ............................(as low as)

Mortgages First Mortgage

Available through the secondary market. Please call us for the most current rates.

Home Equity

............................(as low as)

7.09% APR*

Fixed-rate mortgages are available through the secondary market. For most current rates and information, contact Carey at 320-679-3863 or 800-808-2830 ext. 3863. Lowest rate subject to credit score and checking/auto pay relationship.

Certificates $500 minimum deposit.

12 month.................4.84% APY** 18 month.................4.84% APY** 24 month.................5.05% APY** 36 month.................5.20% APY** 48 month.................5.25% APY** 60 month.................5.35% APY** *Annual Percentage Rate. **Annual Percentage Yield. Penalty for early withdrawal. Rates are subject to change.

For most current rates, visit our Web site at www.gmcu.com

Special Holiday Hours: •Memorial Day

Monday, May 28 - Closed

•Independence Day

Wednesday, July 4 - Closed