President's Message December 2015

Happy Holidays from UCCU!

JeffSermon_2015

At UCCU, we know that money is not the most important thing in life,but it is an important tool in providing for our families and assuring their security. As your financial partner, we at UCCU want to help you achieve financial success. We do this by providing valuable professional services and information. We also help you earn more on you accounts and pay less for loans and other financial services, so you keep more of your hard-earned money.

Local credit union members and noted musicians Roger and Melanie Hoffman stress this simple, but profound message in their delightful children’s musical series:

 Once upon a time there was a sorry little man 
Who said, “I must accumulate all the stuff I can.”
He went out in the afternoon to see a chimp or two.
And then before he knew it – he’d bought the city zoo.
When the snow was falling – he was a merry elf.
He wrapped up Christmas presents – and gave them to himself.
He said, “One more thing. I’ll buy one more thing.
I’ll buy until I’m happy. I’ll buy one more thing”
When he got to heaven he cried out in despair.
He had owned such lovely things, but none of them were there.
He said, “No more things. I have no more things.
Here I am in heaven with no more things.
It’s your heart that counts and the love you bring.
I wish someone had told me life is more than things!”
 
 

Although money is not the most important thing in life, successfully managing it gives you time and energy to focus on the things that are most important – like enjoying family, friends, and life’s special occasions.

On behalf of the Board of Directors and the UCCU staff, we sincerely wish you and yours a very Merry Christmas and a great New Year in 2016!

Sincerely,

 

Jeff Sermon

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Auto Smart: Concierge Service

Casey Paint

Are you tired of the stressful task of trying to find your next vehicle? Let us help you! UCCU’s Concierge Service helps you find the best car for the best price.  With Concierge Service, we take all the stress out of buying a car. With a no-hassle, no-haggle price, all you have to do is sign on the dotted line.  We have trained auto specialist that are eager to answer all of your questions.

The Auto Buying Program is a no-cost service offered exclusively to UCCU members. We refer you to a participating dealer near you that has agreed to our low, “no-haggle, one-price” Auto Buying Program on new vehicles and members-only special purchase incentives on a huge selection of pre-owned vehicles.

With our help, we can help you build your own car from a Cadillac to a Chevrolet.  We have many options to choose from.  Our website has countless pages full of inventory that you can search until you are satisfied.  Compare hundreds of vehicles and prices on our site and enjoy all of the benefits that the Auto Buying Program has to offer.

Our step-by-step process makes it easy to find the right vehicle for you.  We offer member testimonials for those who have tried our concierge service, we offer new car reviews, a loan payments calculator and much more.

So do not hesitate and call today 800-790-9612 and visit our AutoSmart site for all of your auto buying needs. From MPG to horsepower, AutoSmart can help you make a smart decision.

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UVU's Coach Pope

Coach Pope

History in the making at The UCCU Center

Utah Valley University is entering a new era of college basketball.

Of course, the words “basketball” and “Utah Valley,” may bring to mind that other university… and for good reason. With well over a century of history, Brigham Young University boasts a proud basketball tradition that includes 29 conference championships, 27 NCAA Tournament appearances, and 45 NBA draft selections, such as Danny Ainge, Shawn Bradley, and Jimmer Fredette.

But over the past 12 years, the UVU basketball program has been making its mark as a Division 1 team in the prestigious Western Athletic Conference. And with the announcement of Mark Pope as the new head basketball coach, the Wolverines are poised to take UVU basketball to a whole new level.

“I could not be more excited to be the new head coach at Utah Valley University,” Pope said at a recent press conference. “This is going to be a really special time and a special run.” Standing at 6’10”, Mark Pope can rightly claim a proud basketball history of his very own. As a player, Pope helped University of Kentucky to a national championship in 1996 before playing seven years in the NBA. And Pope is certainly no stranger to Utah Valley basketball. In fact, he comes to UVU straight from BYU, having served as an assistant coach for the past four seasons, helping BYU to a 98-43 record with three NCAA Tournament appearances.

As Pope enters UVU, he stands ready to lead UVU basketball to new heights. “UVU is an extraordinary place,” said Pope. “I’ve played and coached at universities all across the country, and I’ve never seen a place like this, that offers the innovative, academic, cultural experience that is available here. It is unbelievable. I am excited to be part of it.” Pope signed a five-year contract with UVU—which boasts the largest enrollment of any college in the state—after beating out over 100 other candidates for the position. “We got the right guy,” said UVU athletic director Vince Otoupal. “He’s a really good college coach, a former NBA player, a star, a family man and a coach who really understands academics. The whole package.”

The expectations are high, as is the confidence of the university’s athletic program. “Coach Pope is going to take UVU basketball to another level,” said Jason Erickson, Assistant Director of Communications of UVU athletics. “He’s going to take us to the NCAA tournament and put this team on the map.” And for UVU, this new season—and era— begins in the most fitting way possible, with the announcement of a four-game series against BYU. “This series has been a long time coming,” said Otoupal. “BYU is an excellent program with national respect and this series will be great for the fans, the community, and the state of Utah.”

The Wolverines will open their 2015-2016 season at the Marriott Center at BYU. The following season, the Cougars will play at the UCCU Center on UVU campus for the first time in the school’s history. This historic match-up may very well be the beginning of a Utah Valley competitive sportsmanship dynasty. “We’re not trying to be BYU,” Pope recently told The Deseret News, “But we can be some things BYU can’t be. I’m putting together a group of guys who can grow together. I love it. It’s magic.” It’s basketball history in the making, and it all happens at the UCCU Center at UVU. So don’t miss your chance to be a part of it. For tickets and up-to-date information on UVU Men’s basketball, visit WolverineGreen.com

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Meet the Smarts

Smart Family 3

2015 is coming to an end, and 2016 is approaching quickly.  Have you thought about a financial plan for the upcoming year?  Meet the Smart Family; three kids, two parents, and one mission: to be MoneySmart.  Utah Community Credit Union has created a plan for Parents, teenagers, and kids to become more financially aware.  Our BeMoneySmart  program includes benefits for families, informative videos, and financial advice.

Benefits include:

Ages: 0-5 “Baby Bucks”

It is never too early to start saving for your newborn baby.  UCCU will deposited $10 for parents who open a new BeMoneySmart Saving Account for their toddler before their first birthday.  The Youth Savers Account also provides long term savings, which can be withdrawn once a year absolutely free! A toddler with a savings account? Sounds great for every family!

Ages: 6-11 “Smart Saver Rewards”

What a perfect time to teach kids to be more responsible with their money.  Come and try our punch card for kids!  When you open a savings account for your child, UCCU will give you your very own SmartSaver Rewards deposit card.  Every time your child make a deposit, we will punch the card and you will move closer to your reward.  Working hard in school and trying to save money is difficult, so for every “A” your child receives in school, UCCU will give you 1$.

Ages 12-18

It seems that teenagers need money every day of the week.  Movies, dates, cell phones, cars, the list goes on!  UCCU is here to help!  Try our eMoney Family Transfers, which is an easy way to transfer money to your son or daughter right from your account online.  We also provide a BeMoney Smart VISA debit card to your teenager, which makes it a lot easier to buy anything they need!  We also give teenagers their very own UCCU pocket register.  This is an easy and convenient way for teenagers to write down the purchases they have made.  But that’s not all!  Every time they fill out their pocket register, we will give them $10, just for managing their money!

So make this New Year a better year for your finances.  Let us help toddler, child or teenager to be MoneySmart!  And don’t forget to watch the Smart Family as they become MoneySmart at BeMoneySmart.org

Good luck and have a great New Year!

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5 Mortgage Shopping Tips

home

Buying a home is exciting but also stressful.  It requires research, patience, and time to find that perfect home you’ve been dreaming of.  What most people do not understand are the many options they can choose from when it comes to their mortgage loan.  Did you know there are just as many options for a mortgage loan as the houses you will be looking at? Here are 5 mortgage shopping tips you should consider before settling on your mortgage payment:

1. Talk to a mortgage professional

A mortgage professional can help you find the right price for the right home.  Here at Utah Community Credit Union, our mortgage loan officers will determine your price range and see if your credit score is ready for a mortgage and if not, we can help you improve your score and get you in the house that is right for you. Sure, online payment calculators are convenient, but do they tell the whole story?  Often times they leave out property taxes, homeowner’s insurance, HOA fees and other missing expenses.  At UCCU we have home buying experts at all 18 of our branches around Utah, Wasatch, and Juab counties ready to assist and answer all of your home buying questions.  So please come and visit us–it’s a quick and painless process!

2. Find which type of loan is best for you

There are dozens of different mortgage loan options to choose from. That’s why our mortgage professionals are available to help you find the right loan for you.  The three most common types of mortgage loans are:

  • Fixed Rate- Conventional

A fixed rate is exactly what it sounds like – a set interest rate that will not change over the life of the loan, which is usually 15, 20, or – most commonly – 30 years.

  • Adjustable-Rate (ARM) or Variable Rate:

Usually offers a lower initial interest rate that will fluctuate over the life of the loan, rising as interest rates rise. Hybrid adjustable-rate programs include fixed rate features  (i.e. 3/1, 5/1,  etc).

  • Federal Housing

Insured by the federal government, FHA loans often qualify buyers more flexibly than traditional fixed loans and only require a 3.5% down payment. Mortgage Insurance is required for all FHA loans.

3. Looking for the right home

Many questions arise when looking for the right home.  Do I need a real estate agent?  What kind of home am I looking for? Single family home? Condominium? Townhouse?  Having the right information is essential when purchasing your new home. That’s why at UCCU we can answer all of your questions and get you the help you need.

4. Avoid timing the market

You have finally found the right home, at the right price, in the right location.  Don’t hesitate, go for it! Many people often feel they need to chase a mortgage rate that is just a little better.  Mortgage rates are unpredictable, so if it’s the right place at the right time, why wait?

5. Closing your loan

So you have finally found the right home at the right price with the right loan.  Great!  The last step is closing your loan. Gathering all of your loan documents for final approval can be overwhelming, but don’t worry, our home buying experts will be there every step of the way. Our experts will guide you through everything from ordering a home appraisal, to locking your interest rate, and getting final approval for your underwriter.

Now you are ready to buy a home, congratulations!  It may seem like a complicated process, but at Utah Community Credit Union we can help you relax.

Visit our website UCCUrelax.com for videos, mortgage information, and steps to follow for the ideal home buying experience.

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Security Bulletin: Voice-based “Vishing” Attack Targets Financial Institutions

Utah Community Credit Union has been alerted to a voice-based scam — commonly known as “vishing” — where fraudsters are using the National Credit Union Administration (NCUA) name in an attempt to obtain personal financial information from consumers. The call informs consumers that their debit cards have been compromised and instructs them to follow prompts and enter their personal information, including sensitive financial data and identification details. 

What is Vishing? – The term “vishing” refers to a technique for stealing information or money from consumers using telephone systems. The term comes from combining “voice” with “phishing”, with phishing being online scams that get people to give up personal information.

If you receive this type of call please hang up the phone. UCCU will never call and ask for such information. If you did receive a call like this and provided your account or card information please contact us at (800) 453-8188 immediately.

What can you do to protect yourself?

  • Be suspicious of any unsolicited calls where personal information is requested. Be just as suspicious of phone calls as you are of e-mails asking for personal information.
  • Don’t trust caller ID. Just because your caller ID displays a phone number or name of a legitimate company you might recognize, it doesn’t guarantee the call is really coming from that number or company.
  • Call them back. If someone is asking for information, tell them you will call them back. In the case of Utah Community Credit Union, call us using our number from your records.
  • Never provide credit card information or other private information to anyone who calls you.
  • Register your number with the National Do Not Call registry at www.donotcall.gov. Most legitimate telemarketers obey the rules and laws about contacting consumers.

If you were contacted by this vishing scheme you may contact the NCUA’s Consumer Assistance Center Hotline at 800-755-1030 or by email at phishing@ncua.gov to report the details of the scam. They have operators available to take calls Monday through Friday from 8 a.m. to 5 p.m. Eastern Time.

You may also report vishing to the FTC on their website www.ftc.gov or call them at (888) 382-1222. The FTC will ask for the number and name that appeared on the caller ID, the time of day you received the call and what was said or heard in any recorded message. If you think you’ve been a victim of a vishing attack you can also contact the Internet Crime Complaint Center.

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Meet Kim Jackson: UCCU Board Member

KimJackson

Education: Bachelors Degree and Masters Degree in Accounting, Brigham Young University.

Experience: Utah County Clerk Auditor, Novell Internal Auditing Department Current

Position: Utah County Treasurer

Kim Jackson is a man of numbers and he has the resume to prove it. Along with working full time as Utah County Treasurer, Kim has devoted twenty years (and counting) of volunteer service on UCCU’s Supervisory Committee and Board of Directors. As part of his duties, Kim has responded to member concerns and questions, managed internal and external auditors, and helped make certain that the credit union has operated in a fiscally responsible manner. We sat down with Kim and discussed his role on the UCCU Board of Directors.

What brought you to UCCU?

Actually, I’ve been a member of the credit union since…I can’t even tell you how many years. My father worked at BYU and helped me become a member back in the 1960s. Which means that UCCU and I are almost the same age!

How did you get involved with UCCU’s Board of Directors?

I worked at Novell with Ron Eliason, who was Novell’s CFO before becoming UCCU’s fifth president. After he accepted that position, he asked me to serve on UCCU’s Supervisory Committee. Eventually, I joined the Board of Directors, where I’m currently serving my third term as Chair.

Can you tell us a little about your experiences volunteering for UCCU?

I’ve always appreciated UCCU’s conservative approach to finances. We really do safeguard each and every dollar. As a member, I’ve always felt completely safe having my money here, because it’s well run, it’s well watched after, and we keep up with every technological advancement. I also really enjoy the relationship I share with the other board members. This is an amazing group of experts, from many different industries, and we make decisions together.

Do you have a favorite UCCU technology?

Mobile deposit! It’s just so helpful and easy!

Click here  to read our Smart Decisions Magazine Fall/Winter 2015!

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Meet Brent Wilson

BrentWilson_2012
When it comes to making smart financial decisions, you’d be hard pressed to find someone more qualified than Brent Wilson. Brent spent 35 years as a professor of finance at Brigham Young University, where he often consulted with large, international financial institutions. Brent became a UCCU member in 1982 and a board member in the late 1990s.

Today, Brent brings his decades of international expertise to UCCU and its members. He specializes in financial analysis and investment decision making and utilizes his background in the lending industry to provide guidance on a wide range of issues related to the credit union. “In the current low-interest-rate environment, the decisions for investing UCCU’s assets are very challenging,” he says. “I believe I provide some additional perspective on these decisions.” Brent shares his insights to the following questions:

What excites you most about where UCCU is right now?
UCCU has been conservatively managed and fortunately did not suffer from many of the challenges faced by other financial institutions during the “great recession.” As the economy improves, UCCU is well positioned to provide needed services to the members. Additionally, UCCU’s growth allows us to invest in the infrastructure such as mobile technology to provide the financial services our members want.

What UCCU products and programs are you most proud to be associated with and why?
During the time I have served on the board, the financial industry has evolved from “bricks” to “clicks.” This has been a difficult transition for many financial institutions, particularly smaller institutions. Fortunately UCCU has been able to devote the resources needed to stay at the forefront of this evolution.

What are challenges you look forward to helping with over the next few years?

Because of abuses by some large financial institutions, we face an environment of increasing government regulation. Although these regulations are not specifically directed at credit unions, we will have to respond to them. Complying with these regulations will be costly and will impact our ability to provide services to the members. Another challenge for us will be to provide the delivery of financial services as our members increasingly adopt mobile technology.

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A Sneak Peek into UCCU's 60th Anniversary

60 years

2016 is bringing exciting news, it is UCCU’s 60th anniversary!  For 60 years, we’ve worked together with our members to build UCCU into one of the most progressive and fiscally stable financial institutions in the nation. We have exciting plans for our members this upcoming year.  To celebrate, we are giving back to the community that has kept us in business!

1. Transfer a loan and Support a local school

Simply transfer your existing loan(s) to UCCU.  We will pay you .5% balance transfer cash rebate, up to $125, for every loan you transfer.  We will also donate that same cash rebate amount to a local school or your choice, in your name.

2. $30,000 to local charities

Our philosophy as a company has always been “people helping people.”  So this year, we are doing just that!  UCCU is planning on donating 30,000 dollars to local charities you pick!  We are giving the community opportunity to vote for the charities we will be donating to.

3. Community service project

We want to give back the community with service project around Utah County.  We are planning to work with our employees, members, and anyone who is willing to serve.  More information will be available for the project later this year.

4. Share your UCCU story

To celebrate our 60th anniversary we want to hear from you!  Share your UCCU story with us and the top entry will win a Smart Car!* Sixty (60) other great prizes will be awarded to entrants, including a 60” smart TV, an Apple Watch, a trip to Disneyland, an iPad Pro, $600 in cash, gift cards, and lots more! So enter today! And thank you for 60 incredible years! For official rules and to submit your story visit: uccu.com/60Years.

Together, we can continue to build our community, our schools, and our future. We are excited to celebrate our 60 year anniversary with you. For more information please visit uccu.com/60years

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Sprint Discount for UCCU Members

Gallery

Sprint and UCCU have partnered up to give you the best discount possible!  We are giving our members 10% off their monthly bill, and for businesses 15% off.  There are also more benefits such as: Personal 10% discount Benefits 10% discount … Continue reading

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