CUNA MUTUAL TO END LIFE SAVINGS INSURANCE
At CMFG Life Insurance Company, we regularly evaluate our products to ensure we are delivering value to the credit unions and members we serve. Due to a significant decline in demand from credit unions and their members, we have made the difficult decision to exit the Life Savings product currently offered to you through Members United Credit Union. Life Savings was developed more than 75 years ago and has been in a steady state of decline for the last several years. Life Savings is structured as a monthly policy where premium paid only covers the next month rather than building equity over time.
Per the terms of our contract, your group policy will expire on November 30, 2013. All claims incurred on or before December 31, 2013 will be honored.
We know many of you value the peace of mind and security that life insurance provides. Thatâ€™s why we wanted you to know you can convert your Life Savings coverage to a guaranteed issue Primary Protection Plan, underwritten by CMFG Life Insurance Company. This new policy would provide life insurance coverage up to $4,000. If you decide to take advantage of the conversion option, you must apply by December 31, 2013. You will be responsible for premium payments, and your new policy will be effective after you complete the application process. Your premiums will be based on your age at time of application.
Conversion is simple. Just request, complete, and return an application with your first premium payment directly to CMFG Life Insurance Company by December 31, 2013, in order to receive coverage. To request the application, call 855.728.5205 to speak with a fully licensed insurance representative. Our staff will review your situation with you and provide guidance to ensure you have the right type and amount of insurance protection for you and your family based on your current and future needs.
Please contact CMFG Life Insurance Company at 855.728.5205 with any questions.
Executive Vice President, Chief Products Officer
CUNA Mutual Group
NCUA INSURANCE CALL CENTER
NCUA now has insurance experts available to answer questions about the coverage provided by NCUA share insurance. Call toll free Monday through Friday, 8:00am to 6:30pm, at 1-800-755-1030, ext 1. Members can also get useful information online using the NCUA electronic tool kit.
We offer mortgage loans through Credit Union Financial Services (CUFS), a company organized to serve credit union members' mortgages.
- Fast and versatile service - one page application.
- Lower closing costs - fixed according to loan amount.
- Very competitive rates - fixed and adjustable rate mortgages available.
- Purchase, refinance, & 1st time buyer programs.
To apply or be pre-qualified see one of our loan officers or for 24/7 service, go to the CUFS website link below.
VERIFIED BY VISA - IS YOUR DEBIT CARD SAFE?
Do you make purchases online using your credit union Debit Card? Make sure your Debit Card information is safe. We have added Verified by Visa to our arsenal of protection for our members. If you plan to use your Debit Card online, you must register with Verified by Visa.
INSUFFICIENT FUNDS NOTIFICATION
Beginning January 1, 2012, we will no longer be sending out Overdraft Notices by U.S. Mail to all members when an account is overdrawn. We are instead offering our members the option to receive Overdraft Notices by email.
Are you signed up for Teller24, our 24 hour telephone banking system. By calling 229-439-1191 or 1-888-212-1191 and entering your account number and a 4 digit PIN, you can check balances and cleared transactions, transfer funds and even order checks. Call us today for more information or to sign up.
NOTICE OF CHANGES IN TEMPORARY NCUA INSURANCE COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a noninterest-bearing transaction account are insured in full by the National Credit Union Administration through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to members under the NCUA's general share insurance rules.
The term noninterest-bearing transaction account includes a traditional share draft account (or demand deposit account) on which the insured credit union pays no interest or dividend. It does not include any transaction account that may earn interest or dividends, a negotiable order of withdrawal (NOW) account, money-market deposit account, and Interest on Lawyers Trust Account (IOLTA), even if shares drafts may be drawn on the account.
For more information visit www.ncua.gov.
FUNDS AVAILABILITY POLICY CHANGE
Our Funds Availability Policy explains when funds from deposits to certain accounts you have with us will be available for withdrawal. This Notice describes a change to that policy statement. This change was effective July 21, 2011. If you have any questions about this change, please contact us.
Our previous policy disclosure described certain circumstances when the first $100 of a deposit would be available on the first business day after the day of deposit. The remaining funds from the deposit would be available at a later date. After the effective date of the change, the amount that will be available on the first business day after the day of deposit increased from $100 to $200. For the complete policy click on the link below.
Beware of smishing scams!
Several Georgia credit unions have reported their members are receiving text messages from phone number: 678-230-6958. See below for a sample of that text:
# GEORGIA CREDIT UNION ALERT: your card #479144 has been temporarily deactivated> Please call our 24hr office (678) 230-6958.
Do not respond to this or any similar text message or email. We will never contact you ...by text or email and ask for account information. This is a smishing scam.
Smishing is a form of criminal activity using social engineering techniques similar to phishing. The name is derived from "SMs phISHING". SMS (Short Message Service) is the technology used for text messages on cell phones.
Similar to phishing, smishing uses cell phone text messages to deliver the "bait" to get you to divulge your personal information. The "hook" (the method used to actually "capture" your information) in the text message may be a web site URL, however it has become more common to see a phone number that connects to automated voice response system.