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January 2016 - MembereNews

Utilities Employees Credit Union

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Over $4.7 Million Awarded to UECU Members Since 2011

UECU had another successful year in 2015; more members financed their mortgages, home equity loans, auto loans, personal loans and credit cards with the Credit Union. Many members also increased their savings by opening additional share, checking and IRA accounts.  Since UECU is a financial cooperative, we do not work for stockholders, we work for you! To thank you for your loyalty, we have distributed another Member Loyalty Bonus. On December 31, 2015, UECU paid over $700,000 to members. This is in addition to the $4 million that had been awarded in previous years.

You may be wondering how the Member Loyalty Bonus Program^ works – basically, the more that you utilize the Credit Union’s loans and savings products, the more you benefit. The bonus amount is based upon the business that you did with UECU last year. We take the interest you earned on your savings accounts and the interest you paid on most UECU loans and multiply that by the bonus percentage. For 2015, the percentage was 4%. To see how the bonus is actually calculated, see the example as follows:

Find Your 2015 Member Loyalty Bonus

Your bonus amount will be different than the example above because it is based on the savings accounts and loans that you have with the Credit Union. To find out the amount you received for your Member Loyalty Bonus, check your December Member Statement or sign into Advantages Online™. The bonus was deposited to your Share Account on December 31, 2015.

Increase Your Bonus for 2016
Give your Member Loyalty Bonus a boost, by doing the following:

  • Open a new savings account or increase the amount of money that you are investing into your UECU share accounts. Make saving easy with automatic deductions.
  • Transfer your high-interest credit card debt to a low-rate Visa® Power Card; members are not charged a balance transfer fee.
  • Finance an auto loan with UECU. Purchase a new vehicle or refinance an existing auto loan from another financial institution.
  • Open a Home Equity Line of Credit
  • Refinance loans from other financial institutions and save!

^The Member Loyalty Bonus™ program rewards members for using eligible UECU loan and deposit products. The bonus amount is based on a percentage of your total interest earned and paid during the year. The percentage of the Member Loyalty Bonus™ can change from year to year. UECU reserves the right to discontinue, change, or suspend this reward program at any time. For complete program rules, visit
*Our lowest rates are based on opening and maintaining any active UECU checking account (at least one transaction per month) and an evaluation of applicant's credit. Actual rate may differ based on credit-worthiness criteria.
**Annual Percentage Yield (APY) are stated as of 12/14/2015 and may change after the account is opened. Rates are subject to change at the Credit Union’s discretion, without notice.


    President’s Message

    Pat Zyma, UECU's President / CEOThank you for making UECU the first choice and trusted partner for all of your financial needs in 2015!

    The year-end holiday season is a time of reflection, and of offering thanks for the good fortunes in each of our lives.  Personally, becoming a new grandparent this year certainly topped my list.  From a professional standpoint, I am appreciative and thankful for the opportunity to lead UECU’s exceptional team.  As we close 2015, my first full year as UECU’s President/CEO has now come and gone.  As promised when I took the reins last October, we have remained true to what differentiates us from other financial institutions – our core philosophies, most notably our commitment to our members and providing outstanding service – while also changing to meet the evolving needs of our members.  

    We recognize that there are many banking options available to consumers today, and a banking relationship and financial products and services may be considered by some as a commodity. However, if you look closer you will see very distinct, and important, differences.  For us, standing out among our competitors encompasses creating financial products, services and reward programs that contribute to the financial well-being of our members. A few examples of how we accomplish this include:

    • Our unique set of checking account options - You may be asking yourself, “Why is my checking account so important?” Since it is most likely the account that is used daily, it should provide convenience and financial benefits to fit your particular lifestyle. Some consumers are looking for interest bearing checking accounts; others are looking for low fees, and most want convenience. UECU’s checking account options deliver all of the above and more.
    • Our unique reward programs - VantagePoints - No matter which checking account option you select, you are automatically eligible for rewards under our VantagePoints™ program.  From the moment that you open a checking account, you begin earning VantagePoints on signature-based purchases.  Members can also earn points on a variety of other products and services, including credit card purchases, E-Statements, and for referring others to the advantages of UECU membership.  These points add up quickly, and can be redeemed for cash back, rate reductions on your next eligible loan, and gift cards. Members choose gift cards from over 150 national retailers and merchants. For additional information about our Checking Accounts and the VantagePoints™ program, visit
    • Additional rewards - Platinum Rewards - By using numerous Credit Union products and services, you may qualify for this exclusive award. Through Platinum Rewards, eligible members can choose up to $12 a month in ATM surcharge rebates, free identity theft protection or other Platinum Rewards options.
    • Member Loyalty Bonus - Supported by UECU’s strong financial position, we are pleased to once again award our loyal members with a Member Loyalty Bonus at year-end 2015.  Over the five years since this program was initiated, we have awarded our members over $4.7 million!  And this is in addition to paying you above-market deposit rates and offering competitive loan rates all year long.  There are very few financial institutions across the nation that match our dividend rates, charge low fees and offer this broad range of reward programs.   

    As we look forward into 2016, we are excited to introduce several new services that bring added convenience.  We recently introduced a new digital payment option for Visa® Card holders, Visa Checkout. You can also now connect with UECU through Live Chat. Soon, members will also have the ability to add their UECU Visa cards to their digital wallet with Apple®. If you have any questions about these new services, please contact a Member Service Representative at 800.288.6423 or via Live Chat.

    On behalf of UECU, I would like to extend best wishes to you and your family for a safe and joyous New Year.  Thank you for being part of our organization, we appreciate the confidence you place in us every day, as we work to serve as the “first choice and trusted partner” for all of your financial needs.

    Pat Zyma
    President/CEO and UECU Member


    Lender's Message

    Mike Malone, VP of LendingUECU’s Home Equity Line of Credit provides many benefits for homeowners,
    including a 1.99% APR   fixed rate for the first year.

    A Home Equity Line of Credit, also known as a HELOC, is a borrowing option available to homeowners who have equity in their homes. Equity is the difference between your home’s appraised value and the amount that you owe on your mortgage. If you do have equity in your home, you can borrow against it for large purchases like home renovations, debt consolidation, college tuition, etc. The HELOC provides many benefits. Lower interest rates and extended terms help provide borrowers with low, affordable monthly payments. A low interest rate also provides long term savings benefits for borrowers who may be paying off high-interest debt or credit cards with other lenders.

    UECU recently extended the 1.99% APR* introductory rate for HELOCs to 12 months.  If you have been thinking about home renovations, consolidating debt, or making that long awaited purchase, now is a good time to open a HELOC. With a 1.99% APR* intro rate and a 3.25% APR* regular rate, you can accomplish your goals. You’ll also have peace of mind, knowing that your monthly payments are affordable. For additional benefits, see information below:

    • No application fees or closing costs^; No points
    • Convenient availability of funds – Since the HELOC is an open line of credit, borrowers can draw funds multiple times, up to the available limit. Pay down the balance and use it again and again. This provides a very convenient option for expenses like college tuition. Plus, you only pay interest on a HELOC for the amount you owe.
    • Easy access to funds – Borrowers can access their HELOC funds in a variety of ways, including HELOC checks, the Home Equity Visa® Platinum Card or by doing a transfer through Advantages Online™.
    • Tax Deductible – Interest paid on a Home Equity Line of Credit may be tax deductible, consult a tax advisor for more information.
    • Rewards – Members may receive cash back through the annual Member Loyalty Bonus, for the interest paid on a UECU Home Equity Line of Credit.
    • Simple Application Process – Call 800.288.6423, ext. 4001, apply online at or through our mobile banking app.

    Have a question? Contact a Financial Service Consultant at 800.288.6423, ext. 4001 or via Live Chat at

    *APR = Annual Percentage Rate. Home Equity Line of Credit Introductory Rate is for the first 12 months from date of loan. After 12 months, existing and new balances will be subject to the regular rate. Regular rates may vary and adjust quarterly based on the Wall Street Journal Prime Rate (Index) plus 0.0% APR (Margin) for up to 90% Loan to Value (LTV) (currently 3.25% APR); plus 1.0% APR (Margin) for 91 to 100% LTV (currently 4.25% APR). Maximum lifetime interest rate will not exceed 18% APR. Existing UECU HELOC accounts are not eligible to receive introductory rate. Home Equity products are not available in all states. Real estate must be first or second lien, 1-4 family owner-occupied residential property. Homeowners insurance is required. Flood insurance required for properties designated in flood zones. 100% maximum LTV. LTV calculation is dependent upon the appraised value of your home.
    ^You may be eligible for a no-cost loan; however, some fees may apply including an appraisal fee depending upon individual underwriting circumstances or fees imposed by third parties. Some states charge additional recording tax after loan origination for which you are responsible. If your home is located in SC, an attorney must assist with your
    real estate closing, and may charge fees. Early closing reimbursement fee of up to $400 will be assessed if Home Equity Loan or Line of Credit closed within the first 12 months after opening; up to $200 if closed during months 13 to 36.

    UECU Welcomes Employees of Schramm, Inc.

    Schramm, Inc. is a century-old Chester County, Pennsylvania manufacturer and global supplier to the hydraulic drill industry, focusing on land based applications. Specializing in mobile, top-head hydraulic rotary drilling rigs, they supply to companies in the mining, energy, geothermal and water sectors worldwide. Learn more about Schramm Inc. at

    We look forward to serving the employees of Schramm, Inc!



    Notice of Annual Meeting

    The Annual Membership Meeting will be held at 10:00 a.m. on Thursday, March 31, 2016 at the Utilities Employees Credit Union office, 11 Meridian Boulevard, Wyomissing, PA.  The agenda will include the election of Directors and reports by the Board of Directors, the President, and committees.

    Nominations for Director vacancies will be submitted by the Nominating Committee.  Nominations may also be made by petition signed by 1% of the members and may be submitted to the Secretary at the Credit Union no later than February 19, 2016.  Please contact Pat Zyma, Secretary for details on the nominating petition process.  The election of Directors will be conducted at the Annual Meeting and nominations from the floor are not permitted by the bylaws.

    UECU's 2016 Scholarship Contest

    2015 Scholarship ContestIt’s almost time for the annual UECU Student Scholarship Contest!

    Students who are UECU members could win one of two $2,000 prizes. Look for contest details and official rules on our
    website in February.


    Visit the website to learn more about this great opportunity for Utility & Energy Workers and Family.

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