OECU Newsletter – 1st Quarter 2021

OECU Newsletter – 1st Quarter 2021

The OECU member newsletter has just been released. This current issue is available to download below.

In this issue:

  • Annual Meeting Save-the-Date – page 1
  • Sweetheart Scams – page 1
  • 3 Ways to Get More From Your Money – page 2
  • OECU in the Community – page 3
  • Mortgage Rates Have Dropped – page 3
  • Board of Directors Elections – page 4
  • Membership Verification Audits – page 4

Upcoming Events:

  • Saturday, March 6, 2021 Annual Meeting

OECU Holidays

  • January 1, 2021 New Year’s Day (All Branches Closed)
  • January 18, 2021 Martin Luther King Jr. Day (Holiday Hours)
  • February 15, 2021 President’s Day (Holiday Hours)

2021 Annual Meeting Save-the-Date

Join OECU for a continental breakfast and door prizes during our Annual Meeting on Saturday, March 6, 2021. The OECU Annual Meeting will be held at the Capitol View Events Center at 5201 N. Lincoln Blvd., Oklahoma City, with continental breakfast at 10 a.m. and Business Meeting beginning at 10:30 a.m.

This Annual Meeting will look a little different than meetings in years past. This year, in an effort to minimize contact and the spread of the Coronavirus, the event will feature a continental breakfast with all food and drink items individually wrapped. Door prizes will be awarded.

Hurry! Get your ticket today! Breakfast attendance will be limited to 50 people to accommodate social distancing at meal time.

Tickets are $5 each and can be purchased at any of OECU’s five branches until Wednesday, March 3, 2021.  Tickets can also be purchased by mail, fax, phone, or email through support@oecu.com.  Ticket price includes continental breakfast, parking, and entry to door prize drawings. All OECU members are invited and welcome to attend the business meeting, which does not require a ticket.

3 Ways to Get More From Your Money

The new year is a popular time to take stock of the 12 months that were, and to plan for a better year ahead. One thing that may not immediately top your list of things to think about is your financial health. If you’re looking to make some financial resolutions this New Year, here are 3 money-saving resolutions to help you do better with your finances in 2021.

1. Embrace no-spend days.

No-spend days – or better yet, no-spend weekends – are exactly what they sound like: Days/weekends when no money leaves your hands or credit union account. Instead of going out to eat, you could try your hand at creating a meal using only what’s already in your kitchen. Enjoy free entertainment – read a book, teach the kids a game from your childhood, or go for a walk. But most importantly, commit to maintaining this habit throughout the year for the biggest financial benefit.

2. Cut back on bad money habits.

Do you eat out too often? Do you NEED that new smartphone before it even hits the shelves? Do you always spend too much to spoil your pet? These are all examples of bad financial habits. Once you know and acknowledge what your bad financial habit is, you can begin the work to fix it and get on the right track to financial freedom. You might try positive replacement, such as preparing your meals for the week to combat the need to eat out.

3. Evaluate last year’s financial mistakes and set goals for the New Year.

It’s time for honest self-reflection. Take an honest look at your financial performance last year. Did you overspend? Overborrow? Once you know what your problem areas were in 2020, you can begin to set new safeguards and goals to do better in 2021. Take some real time to mull over what financial qualities you can improve this year. Consider your outlook, then outline a plan of attack.

You may also want to consider taking a moment to meet with your financial advisor or tax professional to review what worked this year and make changes for the year ahead.

* This article is not financial advice. Please consult a registered money expert to give you real advice. Original article : https://money.usnews.com/money/personal-finance/saving-and-budgeting/slideshows/financial-new-years-resolutions.

Board of directors: 2021 Elections Underway

The next OECU Board of Directors election will be held at the Annual Meeting on Saturday, March 6, 2021.

The Board of Directors (BoD) as a group approves credit union policies, declares dividends for deposits and rates of interest for loans.

The BoD also approves members of the credit union and authorizes investments of credit union funds. Because of these responsibilities, it is necessary that the qualified candidates realize and be able to commit to the following criteria:

1. Be a credit union member in good standing.
2. Be bondable.
3. Have at least a working knowledge of business finance and accounting practices.
4. Maintain the highest level of ethics and confidentiality in all BoD dealings.
5. Attend monthly meetings and an annual planning session.

Qualified candidates should submit their nomination in writing to: Oklahoma Educators Credit Union, ATTN: Nominating Committee, PO Box 22222 , Oklahoma City, OK 73123

Nominations must include:

1. Letter of nomination/introduction
2. Declaration for which position the candidate wishes to run:
a. Position 1, currently held by Chester Weems; or
b. Position 3, currently held by Mike Ossenkop
3. A current resume

Each candidate may only specify one seat for which they wish to run. Board term is three years. Nominations should be submitted no later than January 29, 2020. No nominations will be accepted after this date or from the floor at the Annual Meeting.

Individuals submitting a nomination will be notified of the selected nominees by the Nominating Committee no less than 15 days prior to the Annual Meeting. Successful candidates will be introduced following the election to be held at the Annual meeting.

Any primary member, 16 years of age or older, can vote for Board of Directors positions. No member can vote by proxy. Each member is allowed only one vote, regardless of how many shares he or she holds.

For more information, contact Cindy White at (405) 722-2234.

Protect Yourself: Sweetheart Scams

In recent months, we’ve seen an uptick in romance scams, where so-called “sweetheart scammers” strike up romantic relationships with their marks, setting out to gain their trust and eventually their money.

The con may not be new, but in today’s digital age, sweetheart scammers have taken to dating sites and apps, as well as popular social media platforms such as Instagram and Facebook to find their marks.

The scammers’ tactics vary, but often involve stories about being outside the country. Some common claims reported to the Federal Trade Commission (FTC) include the impersonation of U.S. Military servicemen, oil rig workers, and international medical professionals, who claim to need money for healthcare, travel expenses, court costs, immigration documents, and more.

According to the FTC, common fund collection tactics may include wiring money, sending cards such as MoneyPak, or gift cards.

In an effort to help keep OECU members safe, we may ask you questions about the source of your deposit, why you received the funds, and/or if you have any special plans for the funds. Although questions like these may seem intrusive, this is just one of the many ways we work hard to uncover scams and protect our members.

It is important to note that if a member’s account becomes negative, it is the member who will be legally liable and responsible for settling that debt with the credit union.

To learn more about sweetheart scams and how to spot and avoid them, visit the FTC’s guidance on the subject at: https://www.consumer.ftc.gov/articles/what-you-need-know-about-romance-scams.

OECU in the Community: 2020

2020 was a difficult year for people around the globe but, despite the unprecedented hardships felt by many, we at OECU continue to be inspired by the tenacity and dedication of our members and teammates.

Thanks to the dedication of our teams, OECU was able to keep all branches open and operating throughout the ‘season of shutdowns’.

Throughout the year, our teams helped members navigate pandemic-related financial hardships, and provided solutions to keep members moving forward toward their financial goals.

In August, OECU had the honor of awarding some $26,000 in Teacher Grants to teachers from 49 schools across Oklahoma.

As fall began, our teams enjoyed decorating their branches in support of Breast Cancer Awareness, and the award for best office decorations went to the OECU Yukon branch. Even an historic ice storm in October couldn’t dampen our spirits! OECU teams showed up for Halloween as Mr. Rogers, a team of super heroes, and more.

As 2020 went on, and schools opened and closed, and instituted new health and safety protocols, OECU managers kept in touch with teachers and administrators across the metro area and provided much needed supplies and treats for students, teachers and staff alike. We also honored

In November, OECU team members donated more than 230 pounds of non-perishable food items to the Regional Food Bank of Oklahoma.

As we move into 2021, our team members will be here, ready and happy to help you make the most of your money, and to continue to reach out to educators throughout the metro area to provide support where it’s needed most.

Membership Verification Audit

Cornerstone Resources is assisting the credit union in conducting a verification of member accounts.  Please compare your December statement with your records and report any differences in balances to verification@curesources.coop or by mail to Cornerstone Resources, P.O. Box 655147, Dallas, Tx 75265-5147. When replying, please state your name and credit union.