President's Message June 2012

Board Elections Complete

Congratulations to Brent Bingham, Kim Jackson, Linda Makin and Brent Wilson for their election to the Board of Directors in the May elections.  Members of the credit union are also the owners.  Members have the opportunity each year to participate in board elections. The credit union is very fortunate to be served by highly qualified board members who are successful business and community leaders. The Board sets policy, general direction and strategy for the credit union. The credit union has been well served over the years by a very capable and visionary board. As volunteers, board members serve three-year terms and focus on guiding the credit union to continued growth, innovation, and financial strength. Below are UCCU’s board of directors:

To read the 2012 Chairman’s report and financial overview, click here.

Supervisory Committee for 2012-2013

The Board appoints volunteer members to serve on the Supervisory Committee. This five-member Committee is charged with assuring that the credit union operates within established policy and guidelines in order to maintain the safety and soundness of the credit union.  Current Supervisory Committee members are as follows:


We extend our gratitude to these amazing credit union volunteers who are so valuable in helping the credit union reach its goal of being our members’ first choice for financial services and information.

Regards,

Jeff Sermon

President/CEO UCCU

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President’s Message June 2012

Board Elections Complete

Congratulations to Brent Bingham, Kim Jackson, Linda Makin and Brent Wilson for their election to the Board of Directors in the May elections.  Members of the credit union are also the owners.  Members have the opportunity each year to participate in board elections. The credit union is very fortunate to be served by highly qualified board members who are successful business and community leaders. The Board sets policy, general direction and strategy for the credit union. The credit union has been well served over the years by a very capable and visionary board. As volunteers, board members serve three-year terms and focus on guiding the credit union to continued growth, innovation, and financial strength. Below are UCCU’s board of directors:

To read the 2012 Chairman’s report and financial overview, click here.

Supervisory Committee for 2012-2013

The Board appoints volunteer members to serve on the Supervisory Committee. This five-member Committee is charged with assuring that the credit union operates within established policy and guidelines in order to maintain the safety and soundness of the credit union.  Current Supervisory Committee members are as follows:


We extend our gratitude to these amazing credit union volunteers who are so valuable in helping the credit union reach its goal of being our members’ first choice for financial services and information.

Regards,

Jeff Sermon

President/CEO UCCU

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Chairman's Report

Consistent with UCCU’s performance over the past few years, 2011 was another positive year for the credit union, despite the lingering economic slowdown.  I see three main contributing factors to UCCU’s success in these trying times: fiscally responsible members, excellent employees, and outstanding management.  Below is an overview of UCCU’s 2011 financial summary:


In this sluggish economy our members have tightened their belts and showed financial restraint, reducing their debt and saving more.  While high unemployment strained budgets, our loan delinquency ratios were well below both national and Utah statewide averages.  We thank our members for being ‘money smart’ and working to live within their means.  Our members’ financial success is a key contributor to UCCU’s success and UCCU strives to contribute back to our members’ to help them achieve their financial goals.  It is UCCU’s mission to be our members’ first choice for financial services and information.

Our employees are the finest anywhere. During 2011 UCCU employees spent over 8,000 hours in training to improve their skills.  Their efficiency helped UCCU to achieve outstanding reductions in operating expenses. In addition to the superior service and positive, can-do attitudes in serving our members, our employees were big contributors to the community.  Last year UCCU employees donated more than $172,000 to charity and performed more than 1,500 hours of community service, with 100% of UCCU employees participating.  For example, UCCU staff volunteered 432 hours to help low income residents with their tax returns, completing more than 295 returns at a total refund value of over $626,000.00.   This is one of many volunteer efforts.  I salute and congratulate UCCU’s excellent employees.  They reflect the high values of the organization and serve with distinction.

Finally, the UCCU management team is second to none.  With confidence I assure UCCU’s members that ours is one of the finest Credit Union Management teams in the nation.  They have followed conservative financial practices in both lean times and times of plenty.  In fact, UCCU currently outperforms peer credit unions today largely because our credit union management and board avoided riskier—and seemingly higher payback—practices when the economy was stronger.  These conservative and time-proven practices allow UCCU not only to outperform peer credit unions, but also to meet or exceed financial excellence goals in all of our key metrics, such as Return on Assets and Net Worth Capital For UCCU’s members this means a stable credit union with market-leading rates.  In 2011, the team continued UCCU’s leading technology efforts with the new UCCU Mobile app and an upgrade to Personal Branch.  More than 250 million transactions were completed in Personal Branch in 2011 (Average: 21 million transactions per month).

I reiterate Mike Orme’s comments in last year’s Chairman’s report: “We will not change our basic credit union philosophy of service that has defined us now for over 55 years. Our members will continue to use good judgment and thrift in ordering their financial affairs. Our excellent management team will continue to innovate and lead.”  I add that our employees will continue to serve our members in a professional and cheerful manner.  Truly, UCCU is exemplary in every way today and will continue to be so in the future.

I am grateful for the quality of our members. I express my gratitude for the opportunity to have served as Chair with the Board of Directors, Supervisory Committee, Management team, and Employees who exemplify such high standards of integrity, service, dedication, and sacrifice.

Steve Mann, Chair

Board of Directors

Utah Community Credit Union

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Chairman’s Report

Consistent with UCCU’s performance over the past few years, 2011 was another positive year for the credit union, despite the lingering economic slowdown.  I see three main contributing factors to UCCU’s success in these trying times: fiscally responsible members, excellent employees, and outstanding management.  Below is an overview of UCCU’s 2011 financial summary:


In this sluggish economy our members have tightened their belts and showed financial restraint, reducing their debt and saving more.  While high unemployment strained budgets, our loan delinquency ratios were well below both national and Utah statewide averages.  We thank our members for being ‘money smart’ and working to live within their means.  Our members’ financial success is a key contributor to UCCU’s success and UCCU strives to contribute back to our members’ to help them achieve their financial goals.  It is UCCU’s mission to be our members’ first choice for financial services and information.

Our employees are the finest anywhere. During 2011 UCCU employees spent over 8,000 hours in training to improve their skills.  Their efficiency helped UCCU to achieve outstanding reductions in operating expenses. In addition to the superior service and positive, can-do attitudes in serving our members, our employees were big contributors to the community.  Last year UCCU employees donated more than $172,000 to charity and performed more than 1,500 hours of community service, with 100% of UCCU employees participating.  For example, UCCU staff volunteered 432 hours to help low income residents with their tax returns, completing more than 295 returns at a total refund value of over $626,000.00.   This is one of many volunteer efforts.  I salute and congratulate UCCU’s excellent employees.  They reflect the high values of the organization and serve with distinction.

Finally, the UCCU management team is second to none.  With confidence I assure UCCU’s members that ours is one of the finest Credit Union Management teams in the nation.  They have followed conservative financial practices in both lean times and times of plenty.  In fact, UCCU currently outperforms peer credit unions today largely because our credit union management and board avoided riskier—and seemingly higher payback—practices when the economy was stronger.  These conservative and time-proven practices allow UCCU not only to outperform peer credit unions, but also to meet or exceed financial excellence goals in all of our key metrics, such as Return on Assets and Net Worth Capital For UCCU’s members this means a stable credit union with market-leading rates.  In 2011, the team continued UCCU’s leading technology efforts with the new UCCU Mobile app and an upgrade to Personal Branch.  More than 250 million transactions were completed in Personal Branch in 2011 (Average: 21 million transactions per month).

I reiterate Mike Orme’s comments in last year’s Chairman’s report: “We will not change our basic credit union philosophy of service that has defined us now for over 55 years. Our members will continue to use good judgment and thrift in ordering their financial affairs. Our excellent management team will continue to innovate and lead.”  I add that our employees will continue to serve our members in a professional and cheerful manner.  Truly, UCCU is exemplary in every way today and will continue to be so in the future.

I am grateful for the quality of our members. I express my gratitude for the opportunity to have served as Chair with the Board of Directors, Supervisory Committee, Management team, and Employees who exemplify such high standards of integrity, service, dedication, and sacrifice.

Steve Mann, Chair

Board of Directors

Utah Community Credit Union

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Login Security Upgrade Coming Soon: TrueStampTM Security Image and Phrase

UCCU is a leader in online banking security and has extensive safeguards in place to protect members from unauthorized account access. We will be enhancing our login process this summer to add another layer of security  to protect members from the growing threats that exist on the web today.

This new enhancement, called TrueStampTM, will help you validate that you are really logging into your account on UCCU’s website. The first time you login following the upgrade you will be asked to establish a personalized TrueStampTM security image and phrase. Here’s how it works:

Step 1: Enter your User Name

Step 2: Establish your personal security phrase

Step 3: Select the background image you would like to accompany your security phrase.

Click ‘continue’ to finalize your TrueStampTM image and phrase.

Each time you login after establishing your TrueStampTM security image and phrase, we will show you your personalized TrueStampTM so you can have peace of mind knowing that it’s your account and UCCU’s website. If after entering your username you do not see your TrueStampTM security image and phrase please contact a Member Service Representative.

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Login Security Upgrade Coming Soon: TrueStampTM Security Image and Phrase

UCCU is a leader in online banking security and has extensive safeguards in place to protect members from unauthorized account access. We will be enhancing our login process this summer to add another layer of security  to protect members from the growing threats that exist on the web today.

This new enhancement, called TrueStampTM, will help you validate that you are really logging into your account on UCCU’s website. The first time you login following the upgrade you will be asked to establish a personalized TrueStampTM security image and phrase. Here’s how it works:

Step 1: Enter your User Name

Step 2: Establish your personal security phrase

Step 3: Select the background image you would like to accompany your security phrase.

Click ‘continue’ to finalize your TrueStampTM image and phrase.

Each time you login after establishing your TrueStampTM security image and phrase, we will show you your personalized TrueStampTM so you can have peace of mind knowing that it’s your account and UCCU’s website. If after entering your username you do not see your TrueStampTM security image and phrase please contact a Member Service Representative.

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Utah Community Credit Union and renowned Utah photographer Willie Holdman team up for new debit card design.

UCCU has partnered with local Utah photographer Willie Holdman to provide the artwork for the new UCCU card design featuring Holdman’s photo: “Dry Canyon Daises, Timpanogos”. Willie stated that although he has photographed nature all over the world, it couldn’t compare with the versatility and beauty of his home state of Utah. Holdman is a UCCU member and his artwork is on the walls of many UCCU offices so, naturally UCCU thought of Willie when considering a new card design.

Jeff Sermon, UCCU CEO and Willie Holdman, Photographer

Jeff Sermon, CEO of Utah Community Credit Union, stated, “Willie represents what’s good about our community. Making the most of what it means to live here and what we love about the valley we do business in.”

Members also have the ability to customize their debit and credit cards with UCCU’s online custom card studio at uccu.com/customcards.

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Personal Branch Enhancements with Money Manager Coming July 16th!

Please be aware that Personal Branch will be unavailable Saturday, July 14 – the morning of Sunday July 15 while the system is being upgraded. Our call center will be open on Saturday the 14th from 9:00 am – 5:30 pm if you need immediate assistance during the Personal Branch upgrade.

As a valued online banking user, you will be excited to hear about some new enhancements coming to Personal Branch Online Banking. In our continuing efforts to provide you with the best online banking experience, we are pleased to inform you about our upcoming release of Personal Branch Online Banking.

View the Personal Branch Video below to see the exciting new features we are adding this summer!

Flash Content
Here’s a screenshot of the new Overview Page (click image to enlarge):

Along with enhancements to Personal Branch functionality, your login process will be changing to provide increased security against phishing and other types of identity theft. To learn more about the security upgrade, click here.

Below is a list of some of the new features:

Financial Overview Page: from the financial overview page you can perform the following transactions:

  • View Balances
  • View History
  • Make a Transfer
  • Schedule a Bill Payment
  • View Spending with the My Spending Chart
  • View Pending Transactions
  • Categorize Transactions
  • Add Notes and Memos to Transactions
  • Budgeting Tools
  • TrueStampTM Security Image and Phrase

Here’s a screenshot of the new Money Manager tools available in the upgraded version of Personal Branch (click image to enlarge):

Personal Branch enhancements with Money Manager will be coming soon!

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12 Budget Travel Tips

Would you like to travel more often without breaking the bank? What if I told you that instead of planning one family trip a year, you can go twice with the same budget? See below to find out how you can do simple things to save money next time you go on vacation.

1. Airline Tickets – Plan in advance and visit discount websites to see if there are better deals. Also, look into bundling your hotel, flights, car rentals, etc.

2. Travel Light – Pack light as most airlines are starting to charge a lot of money for bags.

3. Round Trip Tickets – If you are traveling one-way, look into a round trip ticket, but from time to time it is cheaper.

4. Plan Your Meals – Figure out where you will be and eat before you actually go out. This is not just good for your wallet, but your stomach too since you will probably find economical restaurants that taste great.

5. Avoid Restaurants at the Hotels – Chances are that the restaurants at the hotel are expensive. It probably pays to walk out the front door and find a local cafe.

6. Car Rental Coverage – UCCU’s Visa Platinum Credit Card has car secondary rental coverage so use your UCCU Visa Platinum .

7. Children Car Seats – If you are traveling with kids, you might think that bringing the car seat is cheaper. Call the car rental company and ask about rental prices. With airlines charging for extra luggage, it might save to just rent it.

8. Rental Cars – Decline those services that fill the gas tank up for you. Even though it seems like the advertised price is cheap, many times they charge you for a full tank of gas regardless of how much is left in there when you bring the car back.

9. Redeye Flights – Flying at off-peak hours can usually save a lot on the ticket price. Location – Sometimes the smaller towns close to where you are going have hotels that are much less expensive.

10. Suites – Instead of having two rooms, consider the two-bedroom suites that some hotels provide. They will end up being cheaper and you get just as much privacy with your own room.

11. Be a Little Flexible with Travel Days – Many prices are based on supply and demand, so sometimes it is much cheaper to leave the day before (or after) instead. Look around the dates of your travel plans and see if spending an extra day is worth it. This makes a difference especially around major holidays.

12. Age, Student and Membership Discounts – Many attractions like theme parks, museums and others have discounts for senior, children or students. If you are traveling, remember to take your ID and membership cards (e.g. AAA card) with you that might qualify you for these. Sometimes traveling in groups can save money as well.

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