February 15, 2016 -- President's Day
STRONG AND SECURE
Despite the financial market turbulence and federal bailouts of banks and securities firms, Latrobe Federal Credit Union continues to provide a safe haven for our membership seeking to deposit their savings or to borrow for personal, auto or home equity loans.
Most importantly, Latrobe Federal Credit Union and ALL Pennsylvania credit unions are backed by the full faith and credit of the U.S. Government by the National Credit Union Administration (NCUA). The National Credit Union Share Insurance Fund (NCUSIF), which works just like the FDIC, insures your deposits up to at least $250,000.00. Detailed information on insurance can be found online at www.ncua.gov in the Share Insurance Toolkit section.
There are no stockholders or outside investors in credit unions, nor are they listed on Wall Street. Credit unions are member-owned and not-for-profit cooperatives. Latrobe Federal Credit Union takes our membership seriously and we exist to serve our members, not profit from them. Also, your credit union, like most credit unions, has not engaged in any subprime or risky lending practices like other financial institutions. Investments are made conservatively and your credit union can not be bought or sold as a commodity.
Latrobe Federal Credit Union remains committed to serving the financial needs of its members now in these difficult times and in the future.
HOME BANKING, E STATEMENTS & ONLINE BILL PAY
We offer home banking, online bill pay and estatements. With these services a member is able to view balances, transfer funds between accounts, search and sort transaction history 24 hours a day, 7 days a week. With online bill pay you can pay your bills without writing a check or mailing it. We also offer estatements
in which your statement will be e-mailed to you. If you are interested in any of these services, please contact us.
OVERDRAFT PRIVILEGE PROGRAM
The credit union now offers to qualified members a Courtesy Overdraft
Privilege Program. This is a service that is automatically provided
to all members with checking accounts (members have the right to opt-out).
With Overdraft Privilege your check, ATM withdrawal, debit card purchase,
or other electronic transactions may be covered by the credit union
up to the limit of $300.00. You will be charged the standard NSF fee
of $25.00 per item. You will receive notification when an overdraft
occurs on your account and you will be expected to deposit adequate
funds to bring your account to a positive balance within 30 days. The
Courtesy Overdraft Privilege Program will save you the embarrassment
and expense of a returned item. Please note that in the past, the Courtesy
Overdraft Privilege limit had been included in your displayed balance
at the ATM. Now your displayed balance will no longer include the overdraft
limit; HOWEVER, you will still have access to your overdraft limit.
This change ONLY affects the displayed balance at the ATM but does not
change any other aspect of the program.
For our member’s convenience, we offer a checking account that
provides members with the ability to write an unlimited number of checks
from their account. At the credit union you will experience no minimum
balance and no monthly service charge. A member with a checking account
is eligible to apply for our MasterCard Debit/ATM card. There is a monthly
charge of $2.00 per card to maintain this card.
In the Latrobe area there is no surcharge for members of our credit
union at LESCO Federal Credit Union, 6 Avenue D and VASCO Federal Credit
Union, 432 Depot Street. Also, SHEETZ in PA, OH, VA, WV, MD and NC has no surcharge at the ATM in their 340 stores.
Internet phishing scams are one of the fastest growing frauds today.
Phishing typically involves a bogus e-mail message that uses legitimate
materials in an attempt to entice e-mail recipients to provide personal
financial details, such as account information or social security numbers.
E-mail users should “stop, look and call” if they receive
a suspicious e-mail. Contact the credit union as soon as possible. Credit
union members should never provide their personal information in response
to an unsolicited e-mail, internet advertisement, telephone call, fax
Changes to the Pennsylvania Unclaimed Property Act now require accounts
that have been dormant for three years be reported to the state. This
means that if there has been no activity on your account for the past
three years we are required to turn the funds in your account over to
the State of Pennsylvania. You can prevent this from happening by making
a small deposit or a withdrawal to your account at the credit union.
We hope, of course, you will add to your account and take advantage
of the many other services available to you at the credit union.
FULL FAMILY MEMBERSHIP
As a member of the credit union your relatives by blood or marriage
are eligible for credit union membership. Share the good news with your
whole family and have them call or come in today. It’s a favor
your family will appreciate for years to come.
SOCIAL SECURITY DIRECT DEPOSIT
Safeguard your money and your identity. Direct deposit is the best way
to get your Social Security and other federal benefit payments. Direct
deposit offers one less thing to worry about because it is the safest
way for you to receive your money. It is an easier and more convenient
way to access your money. You have more control over your money and
your time because it is predictable and dependable. Call the toll-free
helpline at 1-800-333-1795 or sign up online at www.GoDirect.org or
sign up at the credit union. Sign up for direct deposit of your Social
Security or SSI payments today.