Official Publication of North Georgia Credit Union. July 2013 From The President National Youth Saving Challenge We want our children to be successful. We offer them the very best education to prepare them for the best jobs, but we often leave out a key ingredient for success. No matter how much money they will make in the future, if they don’t know how to negotiate their way through the maze of money management, they are almost certainly doomed to failure. members, our community and our schools to help prepare young people to manage their financial future. That’s why our credit union participated in Credit Union National Association’s (CUNA) National Youth Savings Challenge. During this event, young credit union members from 224 participating credit unions across the country deposited about $25.2 million into their share and savings accounts. Young credit union members opened 6,173 new accounts during the challenge. CUNA rewarded 10 randomly drawn savers with $100 cash as part of the challenge, and one of our own young members won this year! Most children don’t really understand how to manage money effectively — and it’s up to us to teach them. North Georgia Credit Union believes in partnering with our If your child did not participate in the National Youth Savings Challenge this year, it’s not too late to help foster the savings habit. NGCU offers the Savasaurus Kids Dear credit union member, NGCU was one of the 10 randomly selected winners in the National Youth Savings Challenge. From our members who registered, we randomly selected Rylee Vandiver as the winner of the $100 prize from the Credit Union National Association (CUNA). Congratulations Rylee! continued on page 3 Great Rates and Rebates! Get an Auto Loan that Pays It pays to finance your auto loan at North Georgia Credit Union! $ 100 Ca sh Auto L Back oans! For a limited time only, earn an instant $100 CASH rebate on any car loan originated at NGCU.* PLUS, you’ll get a GREAT RATE as low as 2.75 % APR!** AND Members will be entered for a chance to win a Fisher-Price® Ford F-150 Power Wheels®!* It’s a simple decision with a big payoff! If you are in the market for a new car or have an auto loan at another financial institution, contact North Georgia Credit Union today. For more information, call the credit union at (706) 886-1441 (Main Office), (706) 356-7001 (Lavonia Branch), or (706) 376-6961 (Hartwell Branch). You can also visit our website, www.ngcu.org. *The following conditions apply: Must purchase a new or used vehicle and obtain financing from NGCU; or move an auto loan from another financial institution. Vehicle must be 2009 model year or newer. Only 1 rebate per member. Maximum rebate is $100 per member. Minimum loan amount of $5,000 required for rebate eligibility. Loan must stay at NGCU for 12 months. Otherwise, any rebate paid will be added back into the loan payoff. Special credit scoring criteria may apply. Offer valid now through September 30, 2013. **Annual Percentage Rate Holiday Closings Independence Day Thursday, July 4 Labor Day Monday, September 2 Columbus Day Monday, October 14 We Make It Easy to Take It Easy! While you take it easy this summer, we give you easy ways to stay connected to your credit union! You can conduct transactions or view your account information 24 hours a day, seven days a week, wherever you are! Enjoy easy access to your accounts with: Online Banking Online banking allows you to: • Transfer money between accounts • Access multiple accounts • Get an up-to-date look at your checking or savings activity • Pay bills with our Bill Payment Service • Request a check withdrawal • Change your password and/or e-mail • Update contact information Home banking and Bill Payment are FREE with e-Statements and easy to use. So relax, take it easy, and enjoy your summer. We’ll be there when you need us. For more information on these convenient services, visit www.ngcu.org. Mobile Banking Access mobile banking from your Smartphone at ngcu.online-cu.com/mobile to: • Check account balances • Transfer funds • Change your e-mail address • Change your password Visa Debit Card ATM Service eStatements Six Flags North Georgia Credit Union offers members discounted Six Flags tickets. Tickets are available for only $37.50 each. $2 of each ticket sale will be donated to our state’s Credit Union Political Action Committee (CUPAC). Biltmore House, Gardens, Winery and Antler Hill Village NGCU members can also enjoy generous discounts on daytime admission to Biltmore House, Gardens, Winery and Antler Hill Village with a special Web page just for you. Visit www.biltmore.com/ngcu. When prompted, use promo code: ngcu. For assistance, call (866) 851-4661. President’s Letter - continued from page 1 We encourage you to partner with us to foster financial literacy in the young people of our community. Parents have the greatest opportunity to teach their children the life skills they need to successfully manage their personal finances. Here are some ideas to help you develop these skills in your child: • Provide an allowance. As the child grows, increase the allowance and let him or her take over buying necessities like soap, shampoo and toothpaste. Sonya Speed-NGCU (left) pictured with the Kindergarten class to which she taught the Junior Achievement ciriculum and their teacher, Jana Cheek (inside right), and parapro, Leta Elrod (far right). Club that helps kids learn about the value of saving money and helps introduce them to the credit union philosophy of “People Helping People.” The Savasaurus Kids Club website offers games, activities, projects, homework help, educational articles, and more. Visit the site with your kids by clicking on the Savasaurus Kids Club link at www.ngcu.org. North Georgia Credit Union is committed to making a difference in the lives of the young people in our community. We are proud to partner with Liberty Elementary School to offer financial education to students through the Junior Achievement program. Three of our employees, Sonya Speed and Robin Bridges for the past three years, and Laura Williams for the past six years, have volunteered their time to present financial education programs to students. Junior Achievement (JA) offers volunteer-delivered kindergarten - 12th grade programs that foster work-readiness, entrepreneurship and financial literacy skills. In the 2011-2012 school year, JA impacted more than 4.2 million U.S. students in more than 183,000 classrooms. Additionally, NGCU participates in Partners in Education with many of the schools in the communities we serve. We also award a $500 scholarship each year to a senior at Stephens County High School, Franklin County High School and Hart County High School. • Let them do some of the research. Some parents have their children find out how much money they need for something they want, and even submit detailed “budget” requests in writing. These can then become the basis for negotiating allowances. This practice works especially well when they go off to college and the amounts under discussion go from tens and hundreds to thousands of dollars. • Don’t penalize a child for working. If you reduce allowances when children get jobs, it punishes them for taking the initiative. • Encourage (or require) regular saving. Open a share account at the credit union in your children’s names. Then encourage them to put a percentage of everything they earn or receive as a gift into savings. Use this to teach them how to put money aside for big expenses. Those new skates will mean more to them if they have worked or saved to get them. • Teach by example. It’s still the best teacher. Believe it or not, your children do pay attention to what you do, including how you manage your money. So, be sure to practice what you preach. Tell us what has worked for you to help teach your children about how to manage their money. Sincerely, Brian Akin President/CEO James Norris Honored with Moses C. Davis Award Congratulations to NGCU board director James Norris who was named this year’s Moses C. Davis Award recipient. Established by the Georgia Credit Union Affiliates, a state association that provides services and support to help credit unions meet the financial needs of the state’s credit union members, the award is given each year to honor outstanding service by a credit union volunteer. For the past 16 years, Mr. Norris has served faithfully on North Georgia Credit Union’s board of directors. During this time, he has held the offices of chairman, vice chairman, treasurer and secretary. He currently serves as the supervisory committee chairman. In addition, he has been active in educating elected officials on credit union-related issues, and has traveled to Washington, DC to champion the credit union cause. Mr. Norris was presented with this award at the Georgia Credit Union Affiliates annual convention. North Georgia Credit Union Checking You Don’t Have to Sacrifice Convenience for Value When it comes to your checking account, you don’t have to choose between convenience and value. North Georgia Credit Union offers you the best of both worlds. Savings • No Monthly Fee • No Per Check Charge • No Minimum Balance Convenience • Free Visa® Debit Card • Free Home Banking when you choose eStatements • Free Bill Pay when you choose eStatements • Free Mobile Banking • No-Fee Use of NGCU ATMs (Toccoa, Lavonia and Hartwell Offices and Stephens County Hospital) Say goodbye to the high fees of bank checking accounts. We offer all of the benefits with none of the sacrifices, and we make switching easy. For more information, call the credit union at (706) 886-1441 (Main Office), (706) 356-7001 (Lavonia Branch), or (706) 376-6961 (Hartwell Branch). You can also visit our website, www.ngcu.org. Main Office 1067 Mize Road P.O. Box 280 Toccoa, GA 30577 (706) 886-1441 Fax: (706) 886-3757 Lavonia Branch Office 11823 Augusta Rd., Suite 1 Lavonia, GA 30553 (706) 356-7001 Fax: (706) 356-7008 Hartwell Branch Office 249 East Franklin Street Hartwell, GA 30643 (706) 376-6961 Fax: (706) 376-3184 www.ngcu.org Lobby Hours (Toccoa, Lavonia & Hartwell) Mon., Tues., Thurs. & Fri. 9:00 a.m. - 5:00 p.m. Wednesday 10:00 a.m. - 5:00 p.m. Drive-Thru Hours (Toccoa & Hartwell) Monday – Friday 8:30 a.m. – 5:00 p.m. Saturday 9:00 a.m. – 12:00 p.m. New Georgia Motor Vehicle Title Tax Title Ad Valorem Tax (TAVT), which became effective on March 1, 2013, is a new form of taxation that replaces the Motor Vehicle Sales Tax, Use Tax and Annual Ad Valorem (Birthday) Tax. Any vehicle you purchase will no longer be subject to an annual ad valorem tax (currently due on your birthday every year), but rather to a Title Ad Valorem Tax (TAVT), which will be due at the time of purchase. While there are currently some potential revisions being voted on at press time, here is what we do know. 1) Any vehicle purchased after February 28, 2013, including those purchased from a private party, will be subject to a TAVT of 6.5% of the vehicle’s “taxable value,” a value determined by the State of Georgia Department of Revenue. This tax rate is set to increase annually for at least the next two years by .25% each year. 2) Sales tax and/or use tax will no longer be collected on the sale of vehicles. 3) Individuals who purchased a vehicle between January 1, 2012, and February 28, 2013, can opt in to the new TAVT before January 1, 2014. However, individuals who purchased a vehicle before January 1, 2012, must continue paying annual ad valorem tax, as they currently do. The new requirements can be confusing. We recommend that you keep copies of information that explains and details the new TAVT. Need help or additional information? Try these websites: 1. Georgia Dept. of Revenue at: www.newtitletax.com 2. Georgia Dept. of Revenue (Online Tool to Calculate TAVT Due) at: http://onlinemvd.dor.ga.gov/tap/welcome.aspx Management Team Brian Akin, President/CEO Laura Williams, Vice President Sonya Speed, Lending and Collections Manager Robin Bridges, Data Processing & Operations Manager Sharon Parten, Hartwell Branch Manager Brooke Stowe, Toccoa Branch Manager Bridget Ginn, Lavonia Branch Manager Ephemia Smith, Member Service Officer Directors Tony Thomas, Chairman Juanita Worley, Vice-Chairman Michael Herron, Secretary Harold Harbin, Treasurer James Norris, Supervisory Committee Chairman Deborah Gibby Marvin Harrison Federally insured by NCUA