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SPRING NEWSLETTER: 2018

 

image showing notification to annual meeting

Annual Meeting

Bourns Employees Federal Credit Union (BEFCU) will host its 52nd annual meeting on

Tuesday, May 15, 2018.

BEFCU's annual meeting will once again return to the beautiful Marriot RiversideHotel, located at 3400 Market Street.

Please mark your calendar for this important event.

Doors open at 5:30 pm; the meeting begins at 6:00 pm.

Appetizers and beverages (soda, coffee, and tea) will be served.

Please join us and find out how your Credit Union is doing; stay to the end and enjoy the fun
and excitement of the Credit Union's annual gift-a-thon.

 

Five Positions on BEFCU Board Up for Election

One of the most important events during BEFCU's annual meeting is the election of Board members. Annually, at least one third of the BEFCU Board of Directors positions come up for election. This year there are five open positions.

The Nominating Committee has concluded its work; five individuals have been nominated to fill the five open positions on BEFCU's Board of Directors. Candidates nominated include (alphabetical by last name):

Dave Hickisch (new),

Peter Shak (incumbent),

Mike Valenzuela (incumbent),

Mary Yanez (new),

and Gerry Young (incumbent).

 

Five Positions
The following is a brief introduction to each of the candidates:


Dave Hickisch (new) has been a member of the Bourns Employees Federal Credit Union for one year after joining Bourns. Dave is a Certified Public Accountant (Illinois) and has in the past served in a board role for a pension plan and in an advisory capacity to an employee credit union (Mexico). He is currently Director of Financial Reporting and Planning for Bourns, Inc.


Peter Shak (incumbent) retired in 2017 as Bourns Inc. vice president of engineering for the industrial division. Peter has served two years on the Board of Directors and on the Credit Union's ALCO and executive committees. As Peter has said, "if elected I will continue to serve the Credit Union and support its continued growth."


Mike Valenzuela (incumbent) has been a member of the Credit Union for over 35 years. Valenzuela is currently Chairman of the Board. He has served on the Board and on a number of Board committees. Mike works for Bourns, Inc. as a part of the System Analyst Staff; Mike has been with Bourns for over 30 years.

 

Mary Yanez (new) is a new member of the Bourns Credit Union. Mary has a combined 15 years of experience between former Transtek Magnetics in Tucson, AZ and Bourns, Inc. Mary has been with Bourns, Inc. for the last 1 ½ years. She relocated to Riverside in Aug. 2017. She is currently a Customer Service Manager for Bourns, Inc.

 

Gerry Young (incumbent) has been a member of the Credit Union for 24 years. Young has been a member of the Board of Directors since 2006; Young is currently Vice Chairman of the Board. Young retired from Bourns, Inc. in October 2013 after twenty-four years; Young was VP of Business Systems and Services and served as Corporate Secretary. Prior to that Young served twenty-one years in the US Air Force, mostly in major weapon system contracting.


In addition to those nominated, members may also nominate a candidate through the petition process. To do this, a member must collect 27 signatures from credit union members (i.e., 1% of the credit union membership) and return the petition to the attention of: "Board Secretary, Bourns EFCU, 1200 Columbia Avenue, Riverside, CA 92507" no later than April 9, 2018.


If you need additional information about the elec-tion or petition process, please contact Ed Casanova, CEO, at 951-781-5600 or e-mail to befcu@bourns.com.

HOPE TO SEE YOU ALL AT THE
ANNUAL MEETING!

 

One Year Later...

Bourns Employees Federal Credit Union (BEFCU) and Bakery Employees Federal Credit Union (BECU) completed their merger February 28, 2017.

The merger joined two independent, long serving credit unions who had one common goal, to provide members with products and services they needed at competitive rates and low costs, into a financial hub that would give members choice, convenience, expertise, satisfaction, and value.

The merger has worked out well. The credit unions are now one and the combined staffs serve over 4,300 members, an almost 10% gain over the combined membership at the time of merger.

The BECU members continue to take advantage of BEFCU's competitively priced loan products and many of its low cost services and processes. BEFCU members enjoy the convenience of another location and the added staff to process requests

BEFCU continues to search for ways to help this newly combined membership to reach its goals. It has been able to do this in many practical ways. One very important process that helps all of BEFCU members are the regular on-site visits that BEFCU staff members make. On-site staff visits allow BEFCU staff to travel to locations where many members work. BEFCU staff provides real time credit union services at these locations for its
members. This allows members to conduct their credit union related business at a time that is convenient for them and not have travel to a branch or make a call to the credit union.

BEFCU is pleased with the progress it has made with the combined membership and continues to look for ways to improve it services and processes for all BEFCU members. Most importantly, it continues to seek ways to ensure it gives all members the products they need at very competitive rates.

BEFCU wants to thank all its members for the wonderful reception they have and continue togive BEFCU and for their insight as to how BEFCU can continue to deliver products, services and processes they need.

Hopefully, we will see many of you at the annual meeting.

 

KEY INFORMATION
Locations:
     Montebello: 3413 W. Beverly Blvd.
     Montebello, CA 90640 323-724-3434
     Riverside: 1200 Columbia Ave.
     Riverside, CA 92507 877-426-8767, opt 2

WEB PAGE: www.bournscu.coop


Hours:

     Montebello: 8:30am – 4:30 pm
     Riverside: 9am – 4:30pm
          (watch for changes soon, to better serve you)
     After hours: Teletalk: 877-426-8767, opt 2, then extension 2644



Routing Number: 322281109


Meeting your needs and expectations:
At BEFCU we look forward to providing you the products and services you need. 

Interest Rates...Making a Climb

If you thinking about buying a new home or new car or considering BEFCU's VISA balance transfer program, it's time to get moving. Mortgage rates have risen to near 4.25%. The FED seems intent on raising rates quarterly for the rest of this year. If they do, mortgage rates will move toward 5.00% by year end-and near 4.50% or slightly by the peak summer buying time. Remember that for every $100,000 in loan amount your monthly mortgage payment goes up $57; thus for a $250,000 loan, your monthly payment starts at $1,230 if rates are at 4.25%; the amount increases about $160 monthly for every 0.25% increase in rate.

Auto loan rates are starting to move up; many 0.00% auto manufacturer financing programs are quickly being replaced by 0.9% financing. Lenders are noticing and following, raising their very low rates to over something over 2.00%. And, auto makers are raising prices on popular vehicles: trucks and SUVs. So, while inflation may be muted, it is alive and well in the auto section. If you still want a great rate for that new car, try BEFCU's 1.99% (APR) rate. Beat those rising costs and get a great low rate.

Finally, remember that most credit cards are tied to Prime; as the FED increases rates, these credit cards will see their rates going up. BEFCU's solution: the balance transfer program.

If you decide to take advantage of this program, you get a fixed rate and you choose the rate and term you want. BEFCU offers a 1.99% fixed rate for one year, a 2.99% rate for 2 years, and a 3.99% rate for three years. Plus, you get triple reward points for every dollar transferred! This is a pro­gram you should not pass up. BEFCU offers mem­bers a great Reward Program, which includes a Cash Back Program. And, there are not fees with this card!

Call BEFCU today and ask about any of its loan and/ or share products-find out how you can save, earn, and prosper!

California Disclosure NOTICE
Cuna Mutual Group hereby provides you with notice regarding the preexisting exclusion provision on your open-end credit life and/or credit disability accounts as required annually by the California Insurance Department.


CALIFORNIA NOTICE


THIS INSURANCE MAY NOT COVER AN ADVANCE OR CHARGE UNDER YOUR CREDIT LINE IF YOUR DISABILITY OR DEATH RESULTS FROM A CONDITION FOR WHICH YOU HAVE SEEN A DOCTOR OR CHIROPRACTOR IN THE SIX MONTHS BEFORE THE ADVANCE OR CHARGE.
…………………………………………………………………………….. 

Some interesting, may not be useful, info
 
African elephants only have four teeth to chew their food with.
 

A house fly lives only 14 days (so you may not have to swat at it, just put it in a room you will not be in for a couple weeks).

 
The pig is rated the fourth most intelligent animal.
 
The South American giant anteater eats more than 30,000 ants a day.
 
Dolphins can reach 37 mph; the slowest fish, the Sea Horse moves along at about 0.01 mph.
 

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To contact the Credit Union:


Bourns Employee Federal Credit Union

Riverside Main Branch:
1200 Columbia Avenue
Riverside, California 92507
Phone: 877-426-8767, option 2
E-mail: befcu@bourns.coop 

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