In addition we will close at ... We have received notification from our life savings
insurance provider, CUNA ... —You will always have access to your information.
VASCO Federal Credit Union Where the Little Guy Banks Summer 2013
(724) 539-2858
Don’t Tax My Credit Union! HOLIDAY CLOSINGS
Your credit union is a tax exempt, member owned cooperative. That’s the official definition of what a credit union is. As a member you have the right to vote in all member elections which includes voting for the Board of Directors. This gives you ownership of the credit union. We do not issue stock to outside shareholders.. Because we operate this way, returning our earnings to members through low interest rates on loans and above market rate dividends on deposits ,we are exempt from paying income taxes on our earnings. We do pay property taxes and payroll taxes.
Your credit union will be closed the following dates: July 4 for Independence Day September 2 for Labor Day November 28 and 29 for Thanksgiving December 25 for Christmas January 1 for New Years’
The US Congress is always looking for new sources of revenue and as a result may look to end the tax exempt status of member owned credit unions. This would likely change the way we operate which could lead to us charging higher interest rates and fees.
Day In addition we will close at noon on Christmas Eve, December 24 and New Years’ Eve, December 31
To help us and other credit unions you may belong to please visit www.DontTaxMyCreditUnion.org for ideas on how to get involved. Consider writing or calling your Congressman to urge him not to tax your credit union! VASCO Federal Credit Union has been serving you for 46 years and we want to be around for many more! Your credit union at 432 Depot Street in Latrobe
If you have not tried our new mobile app what are you waiting for? Visit the apple store or Google Play to download the app or visit our website at www.vascofcu.com to scan the appropriate code. You must be registered for home banking to use the mobile app!
Life Savings Insurance to Terminate December 31, 2014 We have received notification from our life savings insurance provider, CUNA Mutual Group, that they will no longer offer the product after December 31, 2014. They cite the fact that too many credit unions have stopped offering this product to their members over the years as the reason for terminating the product line.
Currently and until December 31, 2014 members of the credit union are covered by this policy which pays up to $3000 in the event of the member’s death. To qualify you must have opened the account prior to your 70th birthday. The amount paid is dependent on the amount on deposit on specific dates and is determined by CUNA Mutual Group. We will provide more details of any product that may become available to the member to purchase to replace this product closer to the December 31, 2014 date.
PRIVACY POLICY There is legislation pending that may make providing this privacy policy
complete and accurate.
to you every year in writing unnecessary. Until then this policy is being provided to you by federal mandate. As always there is no federal man-
—Your credit union will only share information when absolutely nec-
date actually requiring you to read it.
VASCO Federal Credit Union is committed to making available financial products and services that will enable you to meet your financial needs and reach your financial goals. Protecting personal information and using it in a manner consistent with your expectations is a high priority
essary. We will only share information to administer the products and services we provide, when required to do so by the government, or when we partner with other businesses to offer a broader array of products and services. —Your credit union will only partner with businesses that follow strict confidentiality requirements. The businesses we select will offer products designed to enhance our members’ economic well being.
for everyone associated with your credit union.
As a member of your credit union, you also have a responsibility to safeguard your financial information.
To ensure that you can rely upon the quality of products and services we make available, your credit union stands behind the following privacy policy: —Your credit union will collect only the personal information that is necessary to conduct your business. That means just what is necessary to provide competitive financial products and services, no more. —Your credit union will protect your personal information. We will maintain strong security controls to ensure that member information in our files and computers is protected. —You will always have access to your information. As a member of your credit union you always have the opportunity to review your information and make necessary changes to ensure that our records are
LEE FLACK MEMORIAL SCHOLARSHIPS
Just a reminder that Lee Flack Memorial Scholarship applications are due at the credit union office by July 12, 2013. Each year your credit union awards up to two $500 scholarships to members who graduated from high school that year and are attending college. The scholarships honor Lee Flack, former manager and treasurer of the credit union. Scholarship applications are available at the credit union office.
