Credit Union News
Phone: (423) 648-3413, Fax: (423) 698-2912, email: epbecu@epbecu.org
| $250,000 FEDERAL INSURANCE COVERAGE NOW PERMANENT ! |
On July 21, 2010, President Barack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Included in this sweeping legislation are provisions making permanent the current $250,000 maximum federal deposit
insurance level, which had been temporary until December 31, 2013. Federally insured credit union member accounts are insured to at least $250,000 by the National Credit Union Share Insurance Fund, a federal insurance fund backed by the full faith and credit of the U.S. Government. A temporary increase from $100,000 to $250,000 was effective from October 3, 2008, through December 31, 2009. On May 20, 2009, the temporary increase was extended through December 31, 2013, and now the $250,000 federal insurance protection becomes permanent. |
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EPBECU - 7/22/2010 |
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COMPUTER CONVERSION FEB. 15 2010 |
We were closed President's Day, February 15th. This allowed the credit union to convert its
data processing system from an in-house system to a service bureau. The move protects our credit union
members by removing the main computer device and daily processing, such as ACH, bill payer and share
draft processing, to an off-site facility. Now, in the event that our building were to suffer serious damage or should the staff encounter a pandemic, severe weather or other reason for not being at work, these very important processes will be performed. The conversion also positioned the credit union to be able to upgrade systems to take advantage of new technology. As time goes on, we will be seriously considering adding more on-line and electronic accessible features that will allow members even greater access to all financial services. We will be evaluating these services in the coming months and will pass along these features when they become available. |
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EPBECU - 3/10/2010 |
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ANNUAL MEMBERSHIP MEETING FRIDAY FEBRUARY 19 2010 |
We had a very successful Annual Meeting Friday evening, February 19, 2010. Approximately 270 members and guests appeared. We met at the Brainerd Baptist Crossroads BX which was a new location for our annual meetings. All worked out very well. The two directors elected were Mark Fletcher and Glenn Kennedy. Their terms came up for renewal and they were unanimously re-elected to three-year terms each. |
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EPBECU - 3/10/2010 |