member matter$member matter$ quarterly newsletter for the members of the jackson area federal credit...

MEMBER MATTER$Quarterly Newsletter for the Members of the Jackson Area Federal Credit Union July 2017

HIGHLIGHTS2 Back to School

Open House4 Hall of Fame &

MSCUA Delta Awards6 Insurance Protection

for What’s Important 8 Understanding Your

Mortgage Options

Main Office5675 Highway 18 West

Jackson, Mississippi M–f 8:30 a.m.–5:00 p.m.

601-922-70551-800-273-5186

ByraM BrancH7375 Siwell roadByram, Mississippi

M–f 8:30 a.m.–5:00 p.m.

Drive-THru HOurSM–Th 8:30 a.m.–5:00 p.m.f 8:30 a.m.–6:00 p.m. Byramf 8:15 a.m.–6:00 p.m. Main

Mailing aDDreSSP.O. Box 1403

Jackson, MS 39215-1403

“TOTal Teller”24-Hour account access601-922-7055, option 8

WeBSiTejacksonareafcu.com

for the latest Jafcu news, fun facts, and more,

like us on facebook and follow us on Twitter.

SHareD BrancHinglook for the logo!

College SCholarShipS, grantS, and loanS:

What do they Cover? Students and their families have plenty of options to consider when it comes to paying for college tuition. From scholarships to grants to loans, filing the gap can be a confusing proposition. Before deciding what options are right for you, here are a few important tips to keep in mind.

1. Start with free money. Begin by maximizing “free” money that you won’t have to pay back, including scholarships, grants, and work-study. We’ve partnered with Sallie Mae® to offer our members access to their Scholarship Search tool, with more than five million scholarship options worth $24 billion. Scholarships can be based on residency, personal interests, grades, and more. When you register to use Scholarship Search by Sallie Mae® , you can enter a monthly $1,000 sweepstakes. No purchase necessary. Void where prohibited. See official rules at SallieMae.com/SweepstakesRules.

2. Carefully ConSider how muCh money you need. Jackson Area FCU encourages our members to borrow responsibly, only taking on the amount of debt you really need. Keep in mind that college costs include more than tuition—you may need to include funds for housing, food, school supplies, transportation, a computer, and more. Once you have the total cost for the upcoming year, subtract any scholarships or grant money you’ve received, as well as any savings you or your family plans to contribute toward your education.

It’s important for students to borrow only what they need to fund their education, not necessarily a lifestyle. In some cases, the loan amount offered to you might exceed the amount of money you really need to cover your expenses. To keep your debt low, determine your budget and only borrow what you need to live on. Also explore options like work study programs through your school or other job opportunities that can help defray college costs.

3. ConSider reSponSible gap finanCing. If after considering your savings, scholarships, and grants, you still come up short, a private student loan can help to fill the gap. Jackson Area FCU has partnered with Sallie Mae® to offer our members the Smart Option Student Loan®. To encourage responsible borrowing, Smart Option Student Loans® must be certified by the school’s financial aid office to help ensure students borrow no more than their cost of attendance less other financial aid received. With competitive variable and fixed interest rates, choice of deferred and in-school repayment options, and no origination fee or prepayment penalties, the Smart Option Student Loan is a responsible way to fund your education.

For more information or to apply visit jacksonareafcu.com or call 601-922-7055.

Jackson Area FCU is not the creditor for these loans and is compensated for the referral of Smart Option Student Loan® customers. This information is for borrowers attending degree-granting institutions only. Applications are subject to a requested minimum loan amount of $1,000. Current credit and other eligibility criteria apply.

Open HOuseWednesday, August 2, 2017

11:00 a.m.–2:00 p.m.5675 Hwy 18 W., Jackson

Come & enjoy fun, giveaways, door prizes & more! Come and see the animals from the Mississippi Museum of Natural Science. Plus, enjoy Space Jump of Jackson and the Mississippi Photo Booth!

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Jackson Area Federal Credit Union Director John Anderson has been inducted into the Mississippi Credit Union Hall of Fame. Created in 1993, the Mississippi Credit Union Hall of Fame is the state’s highest credit union honor, recognizing individuals that have devoted their lives to the philosophy and success of credit unions at the local, state, or national level.

John Anderson has been a member of the of Jackson Area Federal Credit Union

Board of Directors since 1982. During his tenure, he has served as board chairman for 14 years.

Under John’s 35 years of volunteer leadership, Jackson Area Federal Credit Union’s assets have grown from $10 million to $72 million, and the credit union now serves more than 11,500 members.

John was instrumental in planning, developing, and building Jackson Area Federal Credit Union’s first full-service main office, complete with ATM and drive thru, in 1996. In 2009, John was again a guiding force as the credit union expanded by opening a Byram, Mississippi location.

John’s progressive leadership and passionate commitment have been invaluable to Jackson Area Federal Credit Union’s success.

The Mississippi Credit Union Association is the state trade association for 78 credit unions that serve more than 600,000 member-owners. Learn more about choosing a credit union as your financial services partner at mscua.com or asmarterchoice.org.

JaCKSon area Federal Credit Union’S anderSon indUCted

into hall oF FaMe

rayne deuel , age 10, Brandon

When Chris and Heather Deuel realized their daughter Rayne suddenly couldn’t remember the past 24 hours, they rushed her to the emergency room at Batson Children’s Hospital. After a series of tests, Rayne was diagnosed with a benign ganglioglioma brain

tumor. In preparation for surgery to remove the tumor, Rayne received a prescription for ice cream and a nurse’s order for a pedicure. “From the first day in the emergency room, we knew Batson Children’s Hospital was where we needed to be,” says Heather. “Everyone goes above and beyond.”

Fortunately, surgeons were able to remove the entire tumor. Rayne likes to joke that she had a “TWO-mor” but thought it should be called a “ONE-mor” because she only had one. Now she’s glad to have celebrated her three-year “NO-mor” anniversary.

She is seen at the children’s hospital for checkups and still faces daily challenges brought on by obsessive compulsive disorder, but the Deuel family’s faith and positive outlook keep them strong. Rayne loves gymnastics and ballet and making jewelry for her organization, Bracelets for Bibles.

Pictured left to right are Anderson’s family (James Caldwell, Rosia Anderson, Jillian Caldwell, Anderson) and Charles Elliott, MSCUA President/CEO.

MSCUa delta aWardSJackson Area Federal Credit Union was recognized as one of several credit unions in Mississippi to receive an Advocacy Award. The Advocacy Award recognizes credit unions for their efforts to actively promote and advocate on the behalf of credit unions and for their efforts to support credit union advocacy initiatives.

Pictured are Gary N. Fairley, Jackson Area FCU President/CEO, and Charles Elliott, MSCUA President/CEO.

to all who supported our spring

Credit Union for Kids Barbecue

which benefitted the

Blair e. Batson hospital for Children.

With your support, we sold over 600 plates

and made a profit of $3,000 for

Mississippi’s only children’s hospital!4 5

Different life stages mean different responsibilities. As those commitments build, grow and change, make sure to evaluate the insurance coverage you need to protect them.Some aspects of insurance can be complex, but you don’t have to be an expert. That’s why we’re here to help you with sound information and the tools you need to make the right decisions.Trusted by Your Credit UnionOur partnership with credit unions like yours goes back nearly 80 years. In that time, we’ve built our reputation on exceptional value, superior service and a commitment to serve the member-focused mission of credit unions everywhere.

TruStage™ Insurance products and programs are made available through TruStage Insurance Agency, LLC. Life insurance and AD&D insurance are issued by CMFG Life Insurance Company. Auto and Home Insurance Program are issued by leading insurance companies. The insurance offered is not a deposit, and is not federally insured, sold or guaranteed by your credit union.

DTCG-999929.1

TruStage™ INSURANCE PRODUCTS

Call us today to find out how we can help you.

1-855-612-7909Visit us at TruStage.com

INSURANCE PROTECTION FOR WHAT’S IMPORTANTExclusively for credit union members



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Tell Us YoUr sTorY! Could you use $50.00? Let’s face it, who couldn’t? Now’s your chance! Tell us about a positive experience you’ve had or brag about a Jackson Area FCU employee. Is there a product or service of JAFCU that has helped you achieve your financial goals? Why do you like being a member of JAFCU? Submit a testimonial about your membership in Jackson Area FCU, and you could win $50!

Read what our latest testimonial winner had to say: “As a member of JAFCU, I am proud to brag about its service. I have been a member for many years. I purchased a new vehicle in 2014, and JAFCU gave me the lowest interest rate on the loan. Later, I received a notice from another credit union where they had a special rate for one month which was lower. I called JAFCU, and they reduced my rate—they matched the special the other credit union was offering. I love doing business with JAFCU. I have found all employees to be respectful, courteous, and polite.” –Mary (Canton, MS)

By submitting your testimonial, you hereby consent to the use of your testimonial, name, and photo for advertising purposes without compensation, unless the same is prohibited by law. We reserve the right to judge if a testimonial is worthy to be published and to edit and use all of or parts of the testimonial. Further, all persons entering this promotion agree to release and hold harmless Jackson Area FCU, its employees, agents, and representatives from any and all claims of any kind arising either directly or indirectly from said promotion. Jackson Area FCU does not acknowledge or return any entries. Jackson Area FCU will not be responsible for any misdirected, incomplete, or illegible entries. Must be a member of Jackson Area FCU (and in good standing). Jackson Area FCU employees, Board, Committee members, and their families are not eligible to win. No purchase necessary to enter. Contact Jackson Area FCU for more details.

It’s Sprint’s best Credit Union Member Cash Rewards offer ever — another BENefit of membership!

Visit LoveMyCreditUnion.org/Sprint to calculate your cash rewards.

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Member Name

Congratulations to Shirley of Jackson, MS, who submitted the word search from our April Member Matter$ newsletter. Shirley is the lucky winner of a $25.00 Visa gift card!

Complete this crossword puzzle and submit to the credit union by July 31, 2017, to be entered into a drawing for a $25.00 Visa gift card. Mail your completed word search to JAFCU, Attention: Marketing Department, P.O. Box 1403, Jackson, MS 39215. Must be a member of Jackson Area FCU. Not valid with any other offer. Excludes JAFCU employees, Board and Committee members, and their families.

down 2. used to celebrate4. red fruit7. fun on the water10. protects your skin

11. get comfortable13. time away in nature15. toes in the sand17. body of water

aCroSS 1. go with no shoes3. cool, refreshing drink5. warm weather6. blocks the rays8. an insect

9. to move in the water12. prevents bug bites14. time away16. biting insect18. outdoor dining

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Buying a home is one of the most important financial decisions you’ll ever make. A home can be an excellent investment because most houses increase in value over the years. Just as important, the type of home you buy, its location, and the monthly mortgage payments you choose will shape your future and that of your family. This information will help you understand what options you have to consider as you work with your loan officer.

Conventional mortgage: This mortgage is a contract between the lender and the borrower, at the lender’s risk. The borrower’s property is security, which means the lender can take your home for nonpayment of the mortgage. As such, to protect the lender from any loss with the loan, you may be required to pay for mortgage insurance on this loan through a private mortgage insurance provider. Conventional mortgages usually require a larger down payment than FHA or VA loans.

fixed rate mortgage: The interest rate on this loan stays the same for as long as you hold your mortgage, no matter how interest rates change in the financial markets. You know exactly how much you will pay in principal and interest on your home each month. Remember, taxes and insurance may change from year to year.

refinance loans: In recent years, many people have refinanced their home loans to take advantage of low interest rates. Some have also refinanced in order to obtain cash. In a refinance, you pay off your mortgage with a new loan. In a cash-out refinance, you increase the size of your debt in order to get cash at the closing table that you can use for other purposes.

Jumbo mortgage: A loan with special terms for properties of very high value that fall outside typical lending standards.

fha (federal housing administration): The FHA will insure the loan for the lender against loss in case the buyer cannot make payments. It requires the buyer to carry mortgage insurance through FHA. FHA loans are available with as little as 3.5 percent down payments.

Va (Veterans administration): The federal agency will guarantee the mortgages offered by private lenders to qualified members of the armed forces, active military personnel, veterans or their widows. In some cases, one can buy a home on a VA loan with no down payment.

adjustable-rate mortgage: The initial interest rate on an adjustable-rate mortgage (ARM) is generally lower than of a fixed-rate loan. However, with an ARM, the interest rate may increase or decrease in the future, and the size of your payments will go up or down along with the rate. Most ARMs are hybrids, meaning the interest rate is fixed for a certain number of years after which the rate begins to float. The most common ARMs fix the initial rate for three, five, or seven years. ARMs are most appropriate for people who have sufficient financial resources to handle potential payment increases or know that they plan to sell their home around the time the loan’s interest rate is set to change.

If you are considering an ARM, be sure you know: • Whatistheadjustmentperiod(thetimebetweeninterestratechanges)?• Whatindexisusedtodetermineinterestrate?• Doestheintroductoryratedifferfromthenormalrate?• Whatisthemargin(thepercentageaddedtotheindexrateeachtimeyourloanisadjusted)?• Whatistheperiodadjustmentcap?• Whatisthelifetimeadjustmentcap

Your local Credit Union has a wide variety of home loan options, and we have dedicated loan officers ready to work with you and answer all your questions. Call today or visit our mortgage center for more information and rate details.

Home loans are provided by CU Members Mortgage a division of Colonial Savings, F.A. NMLS 401285.

UnderStanding yoUr Mortgage optionS

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JAFCU ServicesShare accounts

Share Draft (checking account)

aTM/Debit card

Online Home Banking

Online Bill Pay

Online Payment center

Payroll Deduction

Direct Deposit

coindexter club

free2B account

icOunT

auto/Boat/rv loans

first Mortgage loans

Motorcycle/aTv/Tractor loans

Savings/cD Secured loans

Signature loans

Personal line of credit loans

viSa credit cards

viSa gift cards

reloadable Debit cards

Share certificates

individual retirement accounts

christmas club

viP club

Money Orders

Wire Transfers

cashier checks

naDa car Book Quotes

24-Hour voice response

night Depository

Safe Deposit Boxes (main office only)

notary Public Services

extended auto Warranty

lifetime Membership

Calendar oF eventS

Tuesday, July 4 CU CLOSED – Independence Day

Wednesday, July 19 Main Office opens at 9:30 a.m.

Byram Office opens at 10:00 a.m.

Wednesday, August 16 Main Office opens at 9:30 a.m.


Monday, September 4 CU CLOSED – Labor Day

Wednesday, September 20 Main Office opens at 9:30 a.m.


Regular Shares 0.30% APY*Club Account 0.30% APY*IRA Shares 0.50% APY*

dividendSas of May 31, 2017

Receptionist .................................................ext. 221IRA’s ............................................................ext. 253Visa Card Inquiries ...................... ext. 251, 255, 249Disability Claims ..........................................ext. 225Collections .......................................... ext. 241, 235Wire Transfers .....................................exts. 253, 231Loan Applications .....................exts. 224, 225, 226,

229, 270, 271Member Payroll ............................................ext. 231Member Service .................................exts. 227, 228

We are sometimes busy assisting other members either in the office or on the other line, so please leave us a voice message, and we will return your call in a timely manner.

ContaCt inForMation

Access your account with these free services 24 hours a day, 7 days a week.

Just call total teller at 601-922-7055 option 8. With Total Teller, you can receive account balances, transfer funds, access loan account information, or even have a check sent directly to your front door!

home banking gives you all the conveniences of Total Teller. You can receive your statement electronically, view account history, apply for a loan, and much more!

online bill pay is available to checking account holders. With Bill Pay, you can transfer money between financial institutions, schedule single or recurring bills to be paid, and much more! Go to our website at jacksonareafcu.com, or come by the credit union to sign up!

aCCoUnt aCCeSS

Members ......................................................11,744Loans ................................................. $31,413,389Assets ................................................. $71,444,975Deposits ............................................. $62,551,488

Credit Union StatSas of May 31, 2017

Term Share Certificates dividend yields and terms vary. Call for details.*Annual Percentage Yield. All rates provided are subject to change monthly. Annual percentage yield may vary according to actual account balance. Regular Share and Club Accounts Dividends paid on average daily balances of $100.00 or more.

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member matter$member matter$ quarterly newsletter for the members of the jackson area federal credit...

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