WEA Credit Union - Newsletters

2010 Spring Newsletter

President's Message

Spring! We knew it would arrive eventually,
but doesn’t it always seem to take forever?
With the arrival of Spring, it’s a good
time to review your IRA situation. If you
are making a contribution for 2009,
opening a Roth may be your best bet. If
you have questions, contact us at the
credit union. Otherwise, we’ve included a
more comprehensive article in this issue to
help outline the differences between Roth
and traditional options.

The difference between credit unions and
banks couldn’t be more obvious than it is
right now. Amidst the scandals, bailout
and PR problems that are rampant with
some of the country’s largest banks,
credit union membership has skyrocketed.
Credit Unions have always strived to
provide fair, honest, and trustworthy financial
services. The credit union’s annual meeting will
be held on May 20th, 2010 at 6:00pm at the
WEAC Office. Join us in celebration of how
credit unions are different!

Facebook…seems everyone I know has an
account! And now the credit union does too.
Do a search on Facebook for WEA Credit
Union or click the Facebook link on our
homepage to become a fan!

Lastly, I would like to point out the “New
overdraft rules for ATM and debit cards” article.
There have been numerous regulation changes
in the past year. One of those changes, the
Electronic Funds Transfers Act (Reg E), will
require banks and credit unions to obtain
permission from account holders to provide
them with overdraft protection on all nonrecurring debit card transactions and ATM
withdrawals. If account holders do not opt in,
or give permission, no overdraft fee can be
assessed and transaction authorizations will be
denied if funds are not available in the account.
This change applies to existing account holders
on August 15, 2010. It applies to new accounts
beginning July 1, 2010. If you choose to opt in
you can rescind your approval at a later date. If
you have not yet opted in and would like to do
so, please contact the credit union so we can
provide the proper forms.