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Fieldstone Times
Many Paths ... One Destination
November, 2014
In This Issue
Need Holiday Cash?
Upcoming Holiday Closings
Credit Union Volunteers
Student Loan Debt Relief
Looking for extra cash for the holidays? Look no
further, Fieldstone Credit Union is offering
Holiday Loans again this year.
Fieldstone in the Community
Fraud Tip-of-the-Month
You can apply for up to $1,200.00 for up to 12
months at 8.9% APR. The first payment will not be due until 2015.
Departmental Phone Extensions
Let us help make your holiday dreams come true. Stop in for details or
apply online at fieldstonecu.com . Bring a smile to all your loved ones'
faces!
Quick Links
Fieldstone Credit Union
Upcoming Holiday Closings
Like us on Facebook
We will be closed on the following federal banking holidays:
Co-Op Network No-Surcharge ATM's
Loan Rates
Financial Calculators
Contact Information and Hours
Thursday, November 27 (Thanksgiving Day)
Wednesday, December 24 - close at 12 noon (lobby opens at 8)
Thursday, December 25 (Christmas)
Wednesday, December 31 - close at 12 noon (lobby opens at 8)
Thursday, January 1 (New Year's Day)
Monday, January 19 (Martin Luther King Day)
Monday, February 16 (President's Day)
Q&A - Credit Union Volunteers
Q: If directors are usually paid, why are credit union directors
called volunteers?
A: While it is true that people on the Board of Directors for most
corporations and banks are paid, the overwhelming majority of
credit union directors, including those at Fieldstone, are not paid.
They volunteer their time to help the credit union thrive.
Q: What volunteers does Fieldstone Credit Union have?
A: Besides the board, we also have a volunteer Supervisory
Committee. Currently, some of those on this committee are directors, but most
are not. A Supervisory Committee is a sort of watchdog on behalf of the
members. It is their job to make sure we are following all laws, regulations,
internal controls, and policies. If someone is doing something wrong,
accidentally or intentionally, this committee tries to find it. In fact, have you ever
noticed that every year your September statements are sent to you by a local
CPA firm rather than by the credit union? That is one of the audits that the
committee is responsible for; in this case the audit is delegated to the CPA's.
Q: What are some of the requirements of a credit union volunteer?
A: A volunteer must be willing to donate time each month for such things as
attending meetings, performing audits, fulfilling educational mandates, and so
on. With credit unions becoming more and more complex each year, there are
new training and knowledge requirements. A financial background (education
and/or work experience) is preferable, but the ability and desire to learn financial
basics within a tight timeline is acceptable.
Q: They do not get paid, they have to learn a lot, they have to give up
time....what is in it for them?
A: Directors and Supervisory Committee members have the satisfaction of
knowing that they are helping to make Fieldstone Credit Union a premier, safe &
secure financial institution. Although the President of the credit union is primarily
responsible for directing the day-to-day credit union operations, the board is
responsible for the long-term direction, setting goals, and passing polices to help
us meet those goals. The Supervisory Committee ensures that while doing all
this, we follow all federal, state, local, and internal requirements.
Q: When will there next be an opening for one of these positions?
A: We will have at least two vacancies to fill. If you are interested, contact
Rhonda Linneman (if you work for CSL Behring) in the plant or via
[email protected], or contact Debbie Eilts (if you work
elsewhere) at the credit union or via [email protected].
Student Loan Debt Relief: Do Your Homework
The following is taken from a handout from the Office of the Illinois Attorney General.
1. Never pay for information about how to pay back your student loans. There are many legitimate services
that provide their assistance with student loan debt for free, including:
* Consumer Financial Protection Bureau: www.consumerfinance.gov
* National Consumer Law Center: http://www.studentloanborrowerassistance.org
* U.S. Department of Education: www.studentaid.ed.gov
2. Learn your repayment options. Your options depend on the types of student loans you have and your
individual circumstances. To start, review your records about the student loans you owe, including whether the loans
are federal or private.
For federal loans:
* Visit the Department of Education's National Student Loan Data System at www.nslds.ed.gov or call the
Department of Education's Federal Student Aid Information Center at 1-800-433-3243.
* Research pay-as-you-earn plans at http://studentaid.ed.gov/repay-loans/understand/plans/pay-as-you-earn
* Visit www.studentaid.ed.gov
* Visit www.studentloans.gov
3. After you have studied your options, then contact your servicer - the entity to whom you make your
payments. (If you are behind on your payments, you may need to contact your debt collector instead.). The U.S.
Department of Education provides information about who loan sersvices are and what they do. For this information,
visit https://studentaid.ed.gov/repay-loans/understand/servicers. If you feel you are not getting appropriate answers
from your servicer, you should ask for a supervisor or your servicer's complaint or ombudsman division.
4. If you are experiencing a problem with your student loan servicer or debt collector, contact:
* Consumer Financial Protection Bureau: http://www.consumerfinance.gov
* Student Loan Ombudsman of the U.S. Department of Education: 1-877-557-2575 or www.ombudsman.ed.gov
* Attorney General Madigan's Consumer Fraud Hotline (if you are an Illinois resident): 1-800-386-5438 or file a
complaint at www.illinoisattorneygeneral.gov/consumers/index.html
Fieldstone Credit Union - Out and About in the Community
Thank you to all who came to the credit union on November 5 for the blood drive. It is great to see people who care
so much about helping other people that they donate blood.
If you would like to donate, but could not come here that day, you can go to the Heartland Blood Center website
at http://www.heartlandbc.org/ and click on "Blood Drives" towards the upper left corner. You can search by city or
date.
Identity Theft
For the next several months, we will have anti-fraud tips that are displayed at a Visa website. If
you want to read ahead, go to http://www.visasecuritysense.com/en_US/preventing-fraud.jsp
and read about other types of fraud.
If thieves obtain your driver's license or Social Security number, they can pretend to be you and
potentially open bank accounts, order credit cards, write bad checks and obtain loans. They can also ruin your credit
score and make it hard to obtain credit in the future. Identity thieves use a variety of tactics, even "dumpster diving"
through your trash for personal information. To help stop identity theft:
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Monitor card and account statements frequently
Report missing cards immediately
Cancel all inactive accounts
Do not volunteer any personal information unless necessary
Sign new cards upon receipt
Shred sensitive documents before disposing of them
Install anti-virus and anti-spyware software
Change passwords regularly
Departmental Phone Extensions & Tips
If you do not need to speak to a specific person, you will often have better luck dialing a
departmental extension (since multiple phones will ring) rather than trying to reach multiple people
one extension at a time. At the voice mail greeting, dial...
1 - real estate loans
2 - consumer loans and credit cards
5 - member service staff
If you need to talk to a specific person but do not know their extension, dial 6 for a list of individual extensions, or dial
"#" and follow the prompts to enter the person's last name.
Fieldstone Credit Union deposits are federally insured up to at least $250,000 by the NCUA,
a U.S. government agency.
Waive early
withdrawal
penalty
Turn in this coupon at the same time you cash in a Fieldstone
Credit Union certificate before the maturity date. The early
withdrawal penalty will be waived. (Certificates that are
collateral for loans might not be allowed to be cashed in
early.)
Offer expires:
12/31/2014