1. finance
2. personal finance
3. lending
4. credit cards

I N S I D E
MEMBERSHERITAGE
N E W S
VOLUME 1
&
I N F O R M A T I O N
F O R
C R E D I T
U N I O N
M E M B E R S
2nd QUARTER 2003
Members Heritage
Annual Meeting
Members Heritage belongs to
you…the members. That’s why you
are cordially invited to attend this
year’s Annual Membership Meeting.
The Members Heritage 2003 Annual
Membership Meeting will be held on
Friday, April 11th at our Members Way
location (off Harrodsburg Road) in
Lexington, KY. Light refreshments will
be served at 6 p.m., and the meeting
will begin at 7 p.m. and last
approximately 1.5 hours. There is no
cost to attend this event, but you will
need a ticket so we will have an
accurate count of attendees and to
reward door prizes. Tickets are
available at all locations until noon
on Wednesday, April 9th.
We encourage all members to attend
the Annual Meeting. It’s a good
opportunity to meet your Board of
Directors and other credit union
volunteers and employees. Your direct
involvement in the credit union
ensures that we are serving your
needs and helps us understand how
we can improve our products and
services. We look forward to seeing
you at the Annual Meeting.
This Issue
Mortgage & Home Equity
Offers ............................... Page 2
Check Your Credit Report ... Page 3
Investment Seminar
Schedule ........................... Page 3
Credit Card Application .... Page 4
Credit Union Youth Week ... Page 5
Your Credit Matters
Good Credit. Bad Credit. No Credit. You’ve
probably heard these terms, and they’re
somewhat self-explanatory. Members
Heritage has some tips to help you maintain,
improve/repair, and establish your credit.
What is a credit score anyway? Your credit
score is a three-digit rating that merchants
and financial institutions use to objectively
determine your creditworthiness (likelihood
to repay debt). Your score is generally based
on five factors: your payment history, amount
of debt compared to total available credit,
length of credit history, how much new
credit you have been seeking, and the types
of credit you use. Credit scores may vary
among credit reporting agencies based on
your personal credit history and activity.
Maintain Your Credit
It takes a conscious effort to build and
maintain a good credit rating. Always strive
to pay your bills on time. Keep balances low
on credit accounts because high outstanding
credit may affect your score. Apply for and
open new credit accounts only as needed.
Pay off debt as much as possible versus
constantly moving it around or refinancing.
Protect your credit by checking your credit
report regularly to ensure that everything is
correct (see Page 3).
Improve/Repair Your Credit
www.membersheritage.org
There are no quick fixes if you have credit
problems. It takes time to rebuild your score
since your credit score considers your entire
credit history. There are no guaranteed
methods to improve your score, but here are
some general tips. Create a budget and
assess your spending habits. Always pay
your bills on time. Stop using credit cards
excessively. (But, don’t cancel all of your
credit cards because with a low credit rating
you may have trouble getting new cards.)
Repay debt by using your savings,
especially repay any past due amounts. Try
contacting creditors to work out new
repayment plans. If you feel you need extra
help, you may wish to contact a reputable
credit counseling service.
Establish Your Credit
Having no credit does not mean you have
bad credit. There are several ways to start
building your credit history. Open share/
savings and share draft/checking accounts
and use them responsibly. Apply for a small
share-secured loan at your credit union or
ask someone to co-sign a loan with you.
You may wish to apply for a department
store credit card, which may have less strict
qualifying standards. Beware: credit cards
are not free money or additional income.
You may buy now, but you will have to pay
later, so be responsible. And, you must
always make your payments on time.
By understanding more about your own
credit history, you can take control of your
finances. Maintaining or establishing good
credit is important for you now and in the
future. Rebuilding your credit is a process
that takes time but can be done, and it has
real benefits. Members Heritage strives to
assist all our members with their borrowing
needs. We offer a full line of loan products
and can take your application by phone,
in person, or online.
$$$ REWARD YOURSELF $$$
Reward Yourself: MHFCU’s Credit Cards
There are some great reasons to reward yourself with a Members Heritage VISA or
MasterCard.
• Special 6-month rate of 5.9% APR on new accounts.*
• Special 5.9% APR* can be used on purchases, cash advances, and transfer balances.
• No balance transfer fees. No cash advance fees. No over-the-limit fees.
• Earn Custom Rewards points with your purchases.
Custom Rewards is Members Heritage’s
credit card reward program. For every $1 in • Great way to support your credit union, and a good deal for you!
purchases, you earn a Custom Reward point.
It’s easy to apply. Simply fill out the form on Page 4 and mail or bring it back to us. Or, call
You can redeem these points for cash back
bonuses or save them for an airline ticket. in your application, visit one of our convenient locations, or apply online. Use the Balance
All cardholders are automatically enrolled Transfer coupon on Page 5 and enjoy this low rate on your other financial obligations.
in the program. Apply for a MHFCU VISA
* APR = Annual Percentage Rate. 5.9% APR in effect for first six months, and then the low, regular 11.99% APR will be
or MasterCard and start earning your Custom in effect. Special rate offer available for a limited time. This credit union and these policies comply with the Federal
Credit Opportunity Act. All credit offers subject to approval.
Rewards points today!
CustomRewards
TM
MORTGAGES & HOME EQUITY
Attention High
School Seniors!
Great Rates – Closing Costs $998*
Apply for the MHFCU
$1,000 scholarship today.
First mortgage rates are at a record low. It’s time to buy that new home or refinance
your current loan. Members Heritage is offering great rates when you purchase or
refinance your home. AND for a limited time, closing costs are set at just $998*! That
can mean up to $700 in savings for our members. Choose from fixed rates with terms
of 20, 15 or 10 years, or choose a 30-year adjustable rate. For more information about
our great rates and availability, contact Vivian or Bonnie at 859-259-3466/800-3593466 or stop by any of our convenient locations.
Attend our free Home Buying Seminar on Wednesday, April 9. Learn helpful tips and
get valuable information. Seminar begins at 5:30 p.m. at MHFCU's Member Way
location. Seating is limited. Call 1-800-359-3466 to reserve a space.
* $998 closing costs with zero points and zero origination fee. All loan requests subject to approval.
Need Money? Think Home Equity!
Stop digging in your couch for loose change. There’s
money in your house. Use the equity in your home
to consolidate bills, buy that car, do those home
repairs, or whatever you wish. Apply for a Members
Heritage home equity loan and get great rates and
for a limited time, pay no fees!
Home equity line of credit
rates as low as 4.25%
APR* (variable) or second
mortgage rate are as low
as 6.25% APR* (fixed).
AND for a limited time, we’re waiving the processing
fees on home equity loans! Save up to $250 in fees!
Limited Time,
NO FEES!
Enjoy low rates, NO FEES, flexible terms, and possible tax advantages. We make it
easy to apply. Just call us, visit any of our convenient locations, or go to our web site.
Find the money in your home and use it.
* APR = Annual Percentage Rate. Home Equity loans available in Kentucky and Indiana only. This credit union and
these policies comply with the Federal Credit Opportunity Act. Rates subject to credit approval. Your rate may be
higher. Variable rates subject to change.
2
Details available on our
web site or request a brochure.
$PRING THING$
Do you have Spring Fever? Then you should
check out our new $PRING THING$ loan.
It’s an easy way to get just enough money at
a good rate.
Borrow $2,500 for as low as 9.00% APR*
for 12 months.
Use the money to buy those new golf clubs,
take a quick trip, get a new wardrobe, put a
deck on your home…the possibilities are
endless. Enjoy the extra money and an easy
loan payment. Spring into action fast and
apply now.
* APR = Annual Percentage Rate. This credit union and these
policies comply with the Federal Credit Opportunity Act.
Rates subject to credit approval. Your rate may be higher.
$PRING THING$ loan available for a limited time.
DEAL&WHEEL
Deal and Wheel, On the Spot/Off the Lot Here’s a list of the Bluegrass
Area dealers who participate in our Dealer Direct program. This way you can finance
a vehicle right ON THE SPOT at the dealer. Upon approval, you can then drive your
vehicle right OFF THE LOT and be on your merry way. There’s no need to make a
special trip to the credit union to apply for a loan. Just be sure to tell the sales person
you are a Members Heritage member, and you want financing through your credit
union. Rates are the same at the dealer and the credit union.
Participating Dealers
Cynthiana, KY
Lexington, KY
Nicholasville, KY
Jones Automotive Group
Courtesy Pontiac Acura
Don Jacobs Choice Used Cars
Don Jacobs Olds Honda
BMW Volkswagen
Don Jacobs Used Cars
Enterprise Auto Sales
Freedom Dodge Jeep Eagle
Glenn Buick GMC Nissan
Mitsubishi Hyundai
Green’s Lincoln Mercury
Green’s Toyota
Paul Miller Ford Isuzu Mazda
Quantrell Cadillac Volvo
Saturn of Lexington
Thoroughbred Chevrolet
Auto Banc on Nicholasville
Cartown Kia
Lexus of Lexington
Superior Nissan Dodge Chrysler
Sutherland Chevrolet
Toyota on Nicholasville
Danville, KY
Stuart Powell Ford Mazda
Frankfort, KY
Exclusive Auto Sales
Glenn Toyota
Honda of Frankfort
Legend Nissan
Georgetown, KY
Frank Shoop Chevy Buick
Pontiac Olds
Patriot Automotive Sales
and Leasing
Harrodsburg, KY
Spirit Chevrolet
Paris, KY
Dotson Brothers
Richmond, KY
Adams Pontiac Buick GMC
Jack Burford Chevy Olds, Inc.
Shepherd Suzuki
Toyota South
Winchester, KY
Andy Ryan Nissan Pontiac
Cole Ford Mercury
Hatfield Chrysler
Mike Wilson Chevy Oldsmobile
Pendleton Auto Sales
Check Your Credit Report
Want to check your credit report? Members Heritage makes it easy for you. Simply
visit our “Personal Finance” page on our web site at www.membersheritage.org and
click on the Equifax button. For a fee, you can have immediate access to your credit
history. You can even order reports from all three credit reporting agencies with the
“3-IN-1 Credit Report.” The site has good information and resources to help you
manage your credit and answer your questions.
You can always contact the credit-reporting agencies directly. There may be a fee to
order your credit report via phone or online.
Equifax: (800) 685-1111, www.equifax.com
Experian: (888) 397-3742, www.experian.com
TransUnion: (800) 888-4213, www.transunion.com
It’s a good idea to check your report with each credit-reporting agency to ensure
correct info on all reports. If you find an error on your credit report, the credit-reporting
agency will investigate and respond to you within 30 days. Once the investigation is
complete, be sure to check the report again to see that it has been corrected. Continue
to check your credit report regularly to ensure that everything is correct.
Want more education about credit scores? See “Your Credit Matters” on Page 1. Also,
visit our web site under Personal Finance to find credit articles in the “Home & Family
Finance Resource Center.”
Attention Members!
3
As of April 1st, we have revised the way we price many of our loan products for our
members. Your credit union wants to become the lender of choice for all members
by offering the best possible rates based upon each individual’s credit history. Call
Members Heritage today and check out our new rates. We are confident you’ll be
happy with our rates, the service you receive, and that you will find even more
value in your credit union membership. We’re here to serve you and appreciate
your business. (All loan requests subject to approval.)
Free Seminars
Financial Network, in cooperation with
Members Heritage is offering free, no
obligation seminars on financial topics for
your personal interest. These seminars will
be offered on the first four Wednesdays of
each month on an ongoing basis. Sara
Tompkins, your local non-commissioned
Financial Consultant, will conduct
seminars. Space is limited, so register early.
Seminar Topics
• 4th Wed - 4/23: Tax Strategies
• 1st Wed - 5/7: “Bear” Essentials
• 2nd Wed - 5/14: College Funding
• 3rd Wed - 5/21: Asset Allocation (1 hour)
• 4th Wed - 5/28: Estate Planning
• 1st Wed - 6/4: 5 Investor Pitfalls
Seminar locations
•1st & 2nd Wed – Park Place at noon
• 3rd Wed – Park Place at 5 p.m.
• 4th Wed – Members Way at noon
Noon seminars are 45 minutes in duration
with sandwiches & soft drinks available.
Evening seminars will vary in length according
to topic, and snacks & soft drinks will be
available. Topic descriptions and future
schedules are available upon request or visit
www.mhfs.biz or www.membersheritage.org.
Additional topics will be offered in the future.
To register, please call Sara at (859) 4557312, or send an email to [email protected], or register online at
www.mhfs.biz. Contact Sara Tompkins if you
would like email notification of future
seminar topics/schedules.
You may also schedule a personal appointment
with Sara. No fee, financial consultations are
available on retirement planning, investment
planning, life insurance, and more.
Application 5.9%
APR*
VISA/MasterCard
FOR A LIMITED TIME!
IIfAM
APPLYING
FOR:
you
wish to
have:
JOINT ACCOUNT
INDIVIDUAL ACCOUNT
APPLICATION
INFORMATION
APPLICATION INFORMATION
APPLICATION IS FOR:
VISA
MASTERCARD
NUMBER OF CARDS:
1
2
LINE OF CREDIT REQUESTED $
NAME 1:
LIMIT INCREASE ON PRESENT ACCOUNT
NAME 2:
ACCOUNT #
CREDIT UNION MEMBER NUMBER
HAVE YOU EVER APPLIED FOR A LOAN WITH MHFCU BEFORE?
Information regarding employment and income of spouse or income from alimony, child support or maintenance payments should be completed only if relied upon as a basis for approval of this credit.
CO-APPLICANT
CO-APPLICANT (Complete Only if Joint Card is Requested.
APPLICANT(Please Print Clearly in Ink)
APPLICANT
NAME
NAME
DATE OF BIRTH
/
/
DATE OF BIRTH
SOCIAL SECURITY #
/
/
SOCIAL SECURITY #
DRIVER'S LICENSE #
DRIVER'S LICENSE #
PHONE: HOME (
)
WORK (
PHONE: HOME (
)
)
WORK (
)
PRESENT ADDRESS
PRESENT ADDRESS
ZIP
ZIP
LENGTH OF TIME AT ABOVE
YRS.
RENT
LENGTH OF TIME AT ABOVE
OWN
YRS.
RENT
OWN
PREVIOUS ADDRESS
PREVIOUS ADDRESS
EMPLOYMENT
EMPLOYMENT INFORMATION
INFORMATION (Please Print Clearly in Ink)
EMPLOYER
EMPLOYER
ADDRESS
ADDRESS
HIRE DATE
/
/
TITLE
HIRE DATE
SUPERVISOR
NO. OF HRS. PER WK.
PREVIOUS EMPLOYER
HIRE DATE
/
/
/
TITLE
SUPERVISOR
NO. OF HRS. PER WK.
PREVIOUS EMPLOYER
/
TERMINATION DATE
/
/
HIRE DATE
/
/
TERMINATION DATE
/
/
SALaRY
INFORMATION(Please Print Clearly in Ink)
SALARY INFORMATION
$
GROSS PER HOUR/MONTH/YEAR
OTHER INCOME $
PER HOUR/MONTH/YEAR
$
GROSS PER HOUR/MONTH/YEAR
OTHER INCOME $
PER HOUR/MONTH/YEAR
SOURCE
SOURCE
debt
DEBT INFORMATION
INFORMATION (Please Print Clearly in Ink. Use Additional Sheet If Necessary)
APPLICANT/
CO-APPLICANT
A
CA
A
CA
A
CA
A
CA
TYPE
CREDITOR/ACCOUNT
BALANCE
MONTHLY PAYMENT
Rent/Mortgage
DISCLOSURE
Annual rate
Annual percentage
forpercentage
purchases,rate
cash
Minimum
Transaction
fee for
MinimumTransaction fee
Transaction
fee cash
for cash
rate rate GraceGrace
of computing
the theAnnual
period
for repayment
of of Method
for purchases,
Transaction feeadvances
Variable
Method
of computing
advances,
and balanceVariable
Annualfinance
period
for repayment
and and
fees fees
for paying
finance
advances
for paying
for purchases
balance
for purchases
balances
for purchases
cashtransfers
advances, information
for purchases late late
information
balance
for purchases FeesFees charge
balances
for purchases
or exceeding
the the
charge
or
exceeding
and balanceAPR
creditcredit
limitlimit
transfers
5.90% *
* Promotional Rate for
Transaction
fee for
Transaction
fee for
You You
havehave
25 days
to repay
youryour
balance
APR that,
25 days
to repay
balance Average
1st six5.90%
months. After
*
Daily
Balance
method
cash
advances
- $0.00
cash
advances
- $0.00
Average
Daily
Balance
method
$0.00
NA
NA
NA
(for
purchases)
before
a
finance
charge
$0.00
NA
NA
NA
(for purchases) before a finance charge (including
Late Late
Fee -Fee
$25.00
new new
purchases)
APR
* Promotional Rate
$25.00
(including
purchases)
on
purchases
will
be
imposed
11.99%
on purchases will be imposed
Over-the-Limit
Fee -Fee
$0.00
Over-the-Limit
- $0.00
*Special*Special
promotional
rate valid
forvalid
the first
six first
months
accountaccount
is open.isThis
information
is accurate
as ofas
1/02
and may
to change
after after
that date.
To find
may have
changed,
call us
(800)
359-3466,
or write
us atus
theataddress
listedlisted
on this
promotional
rate
for the
six months
open.
This information
accurate
of 3/03
and be
maysubject
be subject
to change
that date.
Toout
findwhat
out what
may have
changed,
callatus
at (800)
359-3466,
or write
the address
onbrochure.
this brochure.
ADDITIONAL DISCLOSURE INFORMATION
Are you cosigned on any loan(s) other than those listed on this application?
Have you ever filed bankruptcy?
No
Yes
Have you ever had any judgements or garnishments?
Are you a U.S. citizen?
No
No
Yes
This application is submitted to obtain credit and I (we) certify that
all information herein is true and complete. I (we) authorize the credit
union to verify or obtain further information the credit union may
deem necessary concerning my (our) credit standing. I (we) agree to
furnish additional financial information upon request. If this
application is approved and a charge card(s) issued, the undersigned
applicant(s) by signing, using or permitting another to use the charge
card(s) agree(s) that the applicant(s) will be bound by the terms and
conditions accompanying the charge cards, and all amendments.
When?
No
Yes
Yes
Applicant's Signature
Date
Joint Applicant's Signature
Date
PLEASE READ BEFORE SIGNING THIS APPLICATION
FOR OFFICE USE ONLY
BY
MASTERCARD
CREDIT LIMIT $
APPROVED ON
20
CARD(S) ISSUED
OTHER
LOAN OFFICER
3/03
VISA
BALANCE TRANSFER AUTHORIZATION
I (We) request that you make a cash advance against
my (our) Members Heritage Federal Credit Union:
MasterCard
VISA
Amount
$
I (We) authorize and direct the Members Heritage Federal Credit Union to use that cash advance to pay off the outstanding balance(s) of the following account(s):
Card Issuer
Account #
Specific
Amount
To Pay
$
,
.
Close Account?
Specific
Amount
To Pay
$
,
.
Close Account?
Y
N
Address
Card Issuer
Account #
Y
N
Address
I (We) have indicated a desire to close the account(s) shown above. You are further authorized and directed to close the accounts on my (our)
behalf. The attached statement(s) accurately reflects the outstanding balance on the account(s) as of this date. If the amount of the cash
advance is not sufficient to pay off the entire balance(s), I (We) am (are) responsible for the remaining balance.
Signature
Date
Name (please print)
Day Phone
Social Security Number
Member Number
Avoid the hassles
and fees of
returned checks!
NO POSTAGE
NECESSARY
IF MAILED
IN THE
UNITED STATES
BUSINESS REPLY MAIL
FIRST CLASS MAIL PERMIT NO. 1900 LEXINGTON, KENTUCKY
POSTAGE WILL BE PAID BY ADDRESSEE
Sign up for
an Overdraft
Protection Loan today.
MEMBERS HERITAGE FEDERAL CREDIT UNION
440 PARK PLACE
LEXINGTON, KY 40511-9996
(All credit offers subject to approval.)
Celebrate Youth!
April 13th – 19th is National Credit Union Youth Week.
Members Heritage is celebrating our young members
throughout the month of April. It’s a great time to start
your children on the road to financial responsibility.
5
In April, open a new Captain Cash or share account
for your child 17 and under, and we’ll deposit an extra
$5 into their account. Kids under 12 may enter our
coloring contest to win $25 to be deposited into their
share account. (Coloring sheet available at any location
or download it from our web site.) We’ll also have some
special giveaways during the month, while supplies last.
And parents, we’ll have some brochures available to
help you teach your kids about money. Come celebrate
with us!
®
sm
Detach along dotted line, fold, seal with tape or staples, and send to Members Heritage.
Please check box if additional sheet is added for more balance transfers.
OFFICE HOURS
MEMBERS WAY
Lobby Hours:
Monday - Friday
8:00 a.m. – 5:00 p.m.
Drive-Thru Hours:
Monday – Thursday
8:00 a.m. – 5:30 p.m.
Friday
8:00 a.m. – 6:00 p.m.
Saturday
9:00 a.m. – 12:00 p.m
PIMLICO
Lobby Hours:
Monday - Friday
8:00 a.m. – 5:00 p.m.
Drive-Thru Hours:
Monday – Thursday
8:00 a.m. – 5:30 p.m.
Friday
8:00 a.m. – 6:00 p.m.
Saturday
9:00 a.m. – 12:00 p.m
PARK PLACE
Lobby Hours:
Monday – Friday
8:00 a.m. – 5:00 p.m.
Saturday
9:00 a.m. – 12:00 p.m.
Drive-Thru Hours:
Monday – Thursday
8:00 a.m. – 5:30 p.m.
Friday
8:00 a.m. – 6:00 p.m.
Saturday
9:00 a.m. – 12:00 p.m.
LEXMARK
Lobby Hours:
Monday – Friday
7:00 a.m. – 4:00 p.m.
GREENCASTLE
Lobby Hours:
Monday – Thursday
8:00 a.m. – 5:00 p.m.
Friday
9:00 a.m. – 6:00 p.m.
Evening & Weekends call 1-800-357-3913
Holiday Closings
Members Heritage will be closed on Friday,
April 18th and Saturday, April 19th in
observance of Easter.
BUTTONS
Our telephone teller is on the job 24 hours a day, 7 days a
week. Check your primary account information by calling
(859) 259-3460 or (800) 822-9859.
440 Park Place
Lexington, KY • 40511
Call Judy Johns, Cindy Reed
Julie Drury or Mike Schummers
Your investment
professional, Sara
Tompkins, is located
at the Park Place
branch. Call her at
(859) 455-7312 or
(800) 359-3466 x7312 to schedule
Sara Tompkins an appointment.
24-Hour Lending
455-7300
(859)
455-7300
1-800-359-3466
We're Your Full Service Insurance Agency
MHFCU Board of Directors
Ken Tanner ................................ Chairman
Bobby Flynn ...................... Vice Chairman
Orville Abner ............................. Secretary
Jesse Northcutt ........................... Treasurer
Manlus “Les” Burton ................... Director
John Brubaker ............................ President
ALLIANCE ONE
MHFCU is a member of the Alliance One
Network. Look for the Alliance One logo
and enjoy surcharge-free ATM service across
the country.
AUTO • HOME • BOAT • RENTERS • LIABILITY • LIFE • HEALTH • ANNUITY
Check out these features on our
web site under “Personal Finance.”
MEMBERSHERITAGE@HOME
Sign up for MH@Home and view your
balances and transfer funds online. Use the
Internet and access your accounts anywhere,
anytime. www.membersheritage.org
PRESORTED
STANDARD
US POSTAGE
PAID
PERMIT 1823
LOUISVILLE KY
MEMBERS WAY
2420 Members Way
Lexington, KY 40504
(859) 259-3466
(800) 359-3466
Fax (859) 455-7302
PARK PLACE
440 Park Place
Lexington, KY 40511
(859) 259-3466
(800) 359-3466
Fax (859) 455-7329
PIMLICO
3202 Custer Drive
Lexington, KY 40517
(859) 259-3466
(800) 359-3466
Fax (859) 455-7255
GREENCASTLE
P.O. Box 525
13 Putnam Plaza
Greencastle, IN 46135
(765) 653-9731
(800) 634-2492
Fax (765) 653-9739
LEXMARK
Lexmark Building 003
Lexington, KY 40511
www.membersheritage.org
Your savings federally insured to $100,000
NCUA
National Credit Union Administration, a U.S. Government Agency