Fall

2016

FOR THE MEMBERS OF

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Spread the FaithSkip-a-PaymentVISA Gift CardsRemote Deposit & Mobile App$10,,000 in Scholarship MoneyInternational CU Day From the CEO’s DeskRetirement

Getting married is a big step. MCCU is there for you before and after you walk down the aisle. Whether you need a little extra cash to cover wedding expenses, to help take your dream honeymoon, to get your first car together or your first home; MCCU has the right loan to fit your needs and dreams. MCCU considers our members family so we will take the time and do the work for you to make sure you get the loan that is best for the two of you. As you start down this path together, MCCU will be there for you Every Step of the Way.

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We have the Right Loan for you Every Step of the Way

This summer four teenagers bought their first cars with a little help from MN Catholic Credit Union. We were thrilled to assist our younger members with getting into cars that work within their budget and making the process a little less daunting than it can be at a bank.Allison said, “Angela made the loan process reassuring compared to the hype of worrying if I qualified, what the payments would be and what vehicle to pick. She really “steered” me in the right direction through the whole process.”Angela helped each of these members with the process, and she said, “It was a pleasure to assist these first time buyers with tips, advice and to help them get their first car. Being their trusted financial partner in this car buying experience helped them to be better informed and to feel more confident in their purchase.”

First Time Car Buyers Love MCCU!

Wedding Expense Honeymoon Car Together First Home

Pictured from left to right are: Brandon W. in his 2005 Dodge Ram Hemi, staff member Allison R. pictured with her 2006 Mercury Mountaineer, Mackenzie L. in her 2013 Jeep Patriot and Andrea C with her 2003 Audi A4.

Are you looking for your first car or know a young adult thinking about their first purchase? Our goal is to make the first time buyer loan process as simple and unintimidating as possible. Talk to us. We are here to help.

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New Auto (2012 or newer)2.99%*. . . . .Up to 60 months 3.49%*. . . . .Up to 72 months

Used Auto (2011 or older) 4.49%*. . . . .Up to 60 months

New Boats (2012 or newer)4.99%*. . . . .Up to 120 months

Used Boats (2011 and older)4.99%*. . . . .Up to 120 months

2005 & older Autos, Snowmobiles, Watercraft, Travel Trailers 8.75%. . . . .Up to 60 months

Motorcycles (2012 or newer) 4.99%. . . . .Up to 60 months

Motorcycles (2011 or older) 5.99%. . . . .Up to 60 months

Home Equity Loans (up to 10-year term)4.90%. . . . .Up to 80% CLTV 5.90%. . . . .Up to 90% CLT

HELOC (Home Equity Line of Credit Loan) 4.00%15 year draw period

Signature (Unsecured) 10.90%*. . . . .Up to 42 months

Fine Line Overdraft Protection. . . . .11.90%

VISA As low as 9.24%

Great Loan Rates

*Rates are changed periodically. Call, visit our website, or stop in for the most current rates. All rates are subject to changes without notice.

Holiday Happiness...

Spread the Faith and You Will be Rewarded

Skip-a-Payment The holiday season can be a stressful time of shopping, cooking, and getting ready for family celebrations. MCCU would like to lighten the load by offering you the chance to skip a loan payment during the month of December. That’s right, no penalty, no hassle, just a one time $25 processing fee and you can take a month off. Skip-a-Pay is a great way to ease through the holiday season with one less bill to worry about. Just let us know by November 13th that you would like to skip your December 2016 payment on your MN Catholic CU loan. We will take care of the rest! Call Angela today at 651-484-0265 x4 to see if your loan qualifies.

Let’s face it, instead of a fruitcake or a garish tie, how about something that your family will truly appreciate. You can get VISA Gift Cards starting at $10 up to $1000, and they can be used nearly anywhere the VISA logo is displayed. Just stop into one of our locations and do your holiday shopping with ease.

With the cross and MN Catholic Credit Union prominently printed on our credit card sends a powerful message to every merchant you come in contact with. This Christmas season spread the faith when you use your VISA card and be rewarded with 1% cash back or merchandise or travel rewards. With rates as low as 9.24% APR it just makes sense to avoid those high rate retail cards and use your MCCU “Choose Your Rewards” VISA. Why not get rid of retail cards all together and transfer the balances for FREE to your MCCU card. If you don’t have a MN Catholic VISA yet, it’s easy to get one. Just call, click or stop into one of our locations and start spreading the faith with your new Catholic credit card.

VISA Gift Cards Don’t know what to get Uncle Bill this year? Puzzled about what to get your favorite 16-year-old niece? Why not give the gift that they won’t return: the Visa Gift Card.

Get all the latest updates and offers. Don’t miss out on any of the latest news.

Like us on Facebook today and Follow us on Twitter @mncathcu

Home Equity Loans (up to 10-year term)4.90%. . . . .Up to 80% CLTV 5.90%. . . . .Up to 90% CLT

HELOC (Home Equity Line of Credit Loan) 4.00%15 year draw period

Signature (Unsecured) 10.90%*. . . . .Up to 42 months

Fine Line Overdraft Protection. . . . .11.90%

VISA As low as 9.24%

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Why do over 217 million people worldwide choose credit unions? Because credit unions have a “people-first” philosophy that impels them to constantly improve the communities and lives of their members. On October 20, 2016, join credit union members around the globe in celebrating International Credit Union Day® and experience the credit union difference. Visit us at MCCU and celebrate with your fellow member owners!

Holiday

Hours

Remember that our electronic banking is always open at: mncathcu.com

MN Catholic Credit Union will observe the following holidays in 2017: 1/16 Martin Luther King Day 2/20 President’s Day 4/14 Good Friday (close at 1pm) 5/29 Memorial Day 7/4 Independence Day 9/4 Labor Day 11/11 Veteran’s Day 11/23 Thanksgiving 11/24 Day after Thanksgiving 12/25 Christmas Day

Celebrate International CU Day

with UsThursday, October 20

Applicants are encouraged to research the topic using any sources available. The scholarship deadline is Wednesday, February 1, 2017. The 16 scholarship recipients will be selected and announced in the spring of 2017.For an application packet, apply online at http://mnfic.org/scholarships or call Angela at the credit union at (651) 484-0265 x4.

$10,000 in Scholarship Money AvailableThe Minnesota Family Involvement Council (FIC) has $10,000 available in scholarship money for Minnesota credit union members who are continuing their education!The FIC is offering four $1,000 Harvey Blakke scholarships and twelve $500 scholarships to 16 credit union members throughout Minnesota. Any traditional or non-traditional student beginning classes in the fall of 2017/spring 2018 is eligible.

Those interested in applying need to complete a one-page application form and submit a typed essay (up to 500 words in length) answering the question: “How can the credit union of the future best serve you?”

Have you downloaded our Mobile App and Remote Deposit App yet? If not, now is the time. Don’t miss out on all the features they have to offer. Anywhere, anytime, you can access online banking, search for FREE ATMs, check out the latest news, get turn by turn directions to our branches, look up CD or loan rates, apply for a loan or see our Specials. Maybe all you need to do is deposit a check? Get right to it by accessing Remote Deposit directly through the Remote Deposit App.

Remote deposit makes mobile banking even more valuable.Are you taking advantage of these member benefits yet?

iTunes Store Google Play

Go to the App Store or Google Play and download the FREE MCCU Mobile Banking App and MCCU

Remote Deposit App today.

Join Usas MCCU celebrates with

HOT DOGS, CHIPS & SODA11:00 am - 2:00 pm

Thursday, October 20

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MCCU recently instituted a policy that has been unpopular with some members, primarily because we did not effectively communicate the impending change. I am writing this letter in response to the fair and honest feedback we have received from you, our members, to help you better understand the need for this new policy.

From the CEO’s Desk www.mncathcu.com

As you may know, MCCU and other credit unions currently face a low rate environment and increasing costs from the many new regulations Washington keeps layering on us. It is my job as CEO to use the resources you entrust to MCCU wisely and ensure the long term viability of this institution. In an effort to continue to run a healthy operation I looked for inefficiencies that do not benefit MCCU or the membership at large. I discovered over 800 members that have not used their member numbers in any way in years (decades in some cases). This inactivity represented significant unnecessary expenses to MCCU. Would you be surprised to learn that we spend over $26,000 per year mailing paper statements? And that does not count the cost of marketing materials sent through the mail. In this low rate, highly competitive environment, it doesn’t make sense to pay for the maintenance of accounts that will never again be used. The reality is that the cost of maintaining those memberships exceeds the balance in the accounts after just a year or two.

So on June 30, 2016 MCCU instituted a quarterly fee of $25 on inactive member numbers. This only applies to those members who have less than $500 on deposit and have not used their accounts in any way for at least 3 years. The inactive fee does not affect members under the age of 21.

In the course of three weeks we sent out two letters to the members with inactive member numbers informing them of this policy change and telling them about all the new benefits our credit union offers. In addition, I placed a brief notice on the quarterly statement to announce the policy change to all members. In hindsight, the statement notice was insufficient and caused confusion for which you have my sincere apology. We should have put a special insert into statements for all members fully explaining the inactive membership fee.

My intent with this policy change was not to collect fees, but rather to get members who have stopped using MCCU to either begin to use our products and services, or complete their move to another financial institution and close their accounts.

Most other credit unions instituted inactive fees years ago. Given the current economic conditions we cannot bear the expense of maintaining these inactive memberships any longer. I hope this letter has clarified the reason for the fee and how it is to be applied. From this experience, I have learned that we need to communicate more effectively when there are policy changes at your credit union.

I am very grateful for the members that have made this credit union what it is today and I certainly do not want them to feel anything but my gratitude. If you still have questions, please do call me so we can discuss it. Thank you for your continued support and feedback.

Retirement for Americans More than 1 in 3 employed Americans (36%) work for companies that do not offer an employer-sponsored retirement plan, a total of 55 million workers lacking access to a plan (source: AARP, DOL). Are you trying to save for retirement? Are you retired and currently spending your retirement savings? In either case, what plan do you have in place?A financial advisor can recommend a strategy that considers your spending behavior so you can plan your distributions. Waddell & Reed Financial Advisors are available to help, located next to the North St. Paul Branch of MCCU. Contact Michael Erpenbach at (651) 200-4144 or mike@wradvisors.com

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Little CanadaTel: (651) 484-0265Fax: (651) 484-8570

Coon Rapids Tel: (763) 354-2826 Fax: (763) 780-0758

North St. Paul Tel: (651) 783-5650 Fax: (651) 783-5653

Waddell & Reed is not affiliated with the MN Catholic Credit Union.Investments offered through Waddell & Reed, Inc ARE NOT FDIC OR NCUA INSURED; ARE NOT INSURED BY ANY GOVERNMENT AGENCY; NOT A DEPOSIT; NO BANK OR CREDIT UNION GUARANTEE; MAY LOSE VALUE. INVESTMENTS ARE SUBJECT TO RISKS, INCLUDING POSSIBLE LOSS OF PRINCIPAL. Michael Erpenbach is a Financial Advisor offering Securities and Investment Advisory Services through Waddell & Reed, Inc., a Broker/Dealer, Member FINRA/SIPC and Federally Registered Investment Advisor. Waddell & Reed does not provide legal or tax advice. (09/16)