2020 RAILROAD Community Credit Union Founded in 1956 Products & Services We offer: New Auto Loans Used Auto Loans Motorcycles Rvs, Boats, and ATVs Personal Loans Railroad CCU Visa IRAs Shares Share Draft Services - Notary, Six Flags Tickets, Visa card info on-line, and Prevent Visa Fraud information Important Telephone Numbers Lost/Stolen VISA® Credit Card 800-325-3678 VISA® Credit Card – disputes/fraud 800-600-5249 VISA® Debit Card 800-528-2273 VISA® Debit Card - disputes/fraud 800-808-6402 Prepaid PayCard 866-906-4170 ATM Locator Winter 2020 BONUS Dividend & Rebate!!! We're happy to again report the Board voted to pay a bonus dividend for the month of December. Regular shares earned 1.25% (1.257% APY) and IRA accounts earned 1.50% (1.510% APY). For the months of October and November, regular shares remained at .95% (.954% APY) and IRA accounts earned 1.20% (1.207% APY). Remember, our goal continues to be to distribute as much of our income as possible to our members while maintaining a healthy capital ratio. And, for the second year, we happy to report an interest rebate to our borrowers. If you were a borrower during 2019, you will see an interest rebate posted to your share account. This rebate the equivalent of 2% for interest paid on any loan during 2019. As always, for current rate information, call us anytime or visit our website at www.railroadccu.com. Please check out our website; you'll find some good information there. Director Moves to Emeritus Position Long-time board member, Jerry Graben, requested that he be moved to an emeritus status on the Board. Jerry has served in many functions on the Board for more than 40 years. We thank him for his dedication and loyal service throughout these many years. This request was approved by a unanimous vote. FYI, the only difference in a regular board position and the emeritus status is that the member is not required to regularly attend monthly meetings and has no voting rights. The Board appointed Alvin Ash to serve in this position until the 2020 annual membership meeting. rd 64 Annual Meeting – th Friday, March 6 Yes, it's that time again! Our annual meeting is always held on he first Friday in March. So, mark your th 2020 calendars now for March 6 at 7:00 p.m. It will be at the same location as last year's meeting: McElwain Baptist Church located at 4445 Montevallo Road, Birmingham, AL 35213. This year we have three positions on the Board of Directors to serve for three years each. These positions are currently held by Brenda Aldridge, L.C. Smith and Alvin Ash. The Board and committee members you elect are responsible for overseeing that the credit union is operated in a safe and sound manner. Their duty requires a lot of time and dedication, but offers no monetary reward. We are very fortunate to have committed, long- time board members. If you would like to place a name in nomination for one of these Board or committee positions, please mail the nomination to: Nominating Committee, c/o Railroad Community Credit Union, P.O. Box 100185, Irondale, Alabama 35210. These nominations should be th received before February 28 . At the meeting, nominations from the floor will also be accepted. The meeting's agenda is short and simple; the business meeting is held first, then drawings for some nice prizes and concluding the session by enjoying refreshments. As always, only primary account members (the member under NEWS YOUR We look forward to serving you!
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2020
RAILROAD CommunityCredit Union
Founded in 1956
Products & ServicesWe offer:
New Auto LoansUsed Auto Loans
MotorcyclesRvs, Boats, and ATVs
Personal LoansRailroad CCU Visa
IRAsShares
Share DraftServices -
Notary, Six Flags Tickets, Visa card info on-line, and
Prevent Visa Fraud information
Important Telephone NumbersLost/Stolen
VISA® Credit Card 800-325-3678
VISA® Credit Card – disputes/fraud 800-600-5249
VISA® Debit Card 800-528-2273
VISA® Debit Card - disputes/fraud 800-808-6402
Prepaid PayCard 866-906-4170
ATM Locator Winter 2020
BONUS Dividend & Rebate!!!
We're happy to again report the Board voted to pay a bonus dividend for the month of December. Regular shares earned 1.25% (1.257% APY) and IRA accounts earned 1.50% (1.510% APY). For the months of October and November, regular shares remained at .95% (.954% APY) and IRA accounts earned 1.20% (1.207% APY). Remember, our goal continues to be to distribute as much of our income as possible to our members while maintaining a healthy capital ratio.
And, for the second year, we happy to report an interest rebate to our borrowers. If you were a borrower during 2019, you will see an interest rebate posted to your share account. This rebate the equivalent of 2% for interest paid on any loan during 2019.
As always, for current rate information, call us anytime or visit our website at www.railroadccu.com. Please check out our website; you'll find some good information there.
Director Moves to Emeritus Position
Long-time board member, Jerry Graben, requested that he be moved to an emeritus status on the Board. Jerry has served in many functions on the Board for more than 40 years. We thank him for his dedication and loyal service throughout these many years.
This request was approved by a unanimous vote. FYI, the only difference in a regular board position and the emeritus status is that the member is not required to regularly attend monthly meetings and has no voting rights. The Board
appointed Alvin Ash to serve in this position until the 2020 annual membership meeting.
rd64 Annual Meeting – thFriday, March 6
Yes, it's that time again! Our annual meeting is always held on he first Friday in March. So, mark your
th2020 calendars now for March 6 at 7:00 p.m. It will be at the same location as last year's meeting: McElwain Baptist Church located at 4445 Montevallo Road, Birmingham, AL 35213.
This year we have three positions on the Board of Directors to serve for three years each. These positions are currently held by Brenda Aldridge, L.C. Smith and Alvin Ash.
The Board and committee members you elect are responsible for overseeing that the credit union is operated in a safe and sound manner. Their duty requires a lot of time and dedication, but offers no monetary reward. We are very fortunate to have committed, long-time board members.
If you would like to place a name in nomination for one of these Board or committee positions, please mail the nomination to: Nominating Committee, c/o Railroad Community Credit Union, P.O. Box 100185, Irondale, Alabama 35210. These nominations should be
threceived before February 28 . At the meeting, nominations from the floor will also be accepted.
The meeting's agenda is short and simple; the business meeting is held first, then drawings for some nice prizes and concluding the session by enjoying refreshments. As always, only primary account members (the member under
NEWS
YOUR
We look forward to serving you!
Street Address:1808 2nd Ave SouthIrondale, AL 35210 Mailing Address:PO Box 100185Irondale, AL 35210
Email: [email protected]
Phone: (205) 956-0678
Fax: (205) 956-0834
HOURS: M - F, 8:00AM - 4:30PM
“Not for profit, not for charity, but for service. Chartered in 1956."
National Credit Union Administration, a U.S. Government Agency
Your savings federally insured to at least $250,000and backed by the full faith and credit of the United States Government
EQUAL HOUSING
L E N D E RNovember 30, 2019
whose Social Security number the account reports) will be eligible to participate in the drawing for the prizes. And, in an effort to be fair to everyone, we ask that members only accept one prize per household so that more families have an opportunity to win.Please come join us on Friday, March 6, 2020.
Tax InformationYear-end Tax Statements: Please be on the lookout for your 2019 tax forms from the credit union. All tax statements (1099-I, 1099-R and 1098) will be mailed no later than January 31, 2020. In most cases, the tax form is not required (only required if you had withholding) to be attached to the return so if you need this information earlier, please call us and we will be glad to give you the information over the telephone. Or, you can access this information online if you are registered for home banking access.
Of course, this information is printed on your year-end statement for share accounts, but if you had certificates of deposit that closed during the year, we need to provide you with the dividend amounts or wait until the tax form arrives.
Direct Deposit for Tax Refunds: If you are receiving a tax refund, you can have your refund directly deposited to your credit union share account. Federal and state refunds can now be direct deposited which means a faster refund. You will need to fill in your credit union account number on your tax form, give the credit union's routing number (262283843) and specify that your account is a savings account; note only credits to regular share accounts can be accepted. Of course, if you have a credit union checking account, you may receive credits or debits to your account.
IRA Deposits: Ask your tax preparer about an IRA contribution. In many cases, your contribution could be tax deductible. Deposits
can be made up to the tax filing deadline of April 15, 2020 for the tax year of 2019.
The maximum contribution has increased for tax year 2019. For persons under the age of 50, the limit is $6,000 and $7,000 for persons age 50 or older. The credit union offers both traditional IRAs and Roth IRAs. IRA rules are somewhat complex, so if you have questions or need more information about IRAs, give us a call; we're here to help if we can.
News You Can UseDraft Accounts. For our members with draft accounts, you need to be aware that checks are presented almost immediately these days, either in the form of the actual check or the check converted to an electronic format known as an ACH item. This can cause problems if you are running short in your account. So, even if you call to inquire if an item has posted to your account and find that it hasn't yet been presented for payment, you can't assume that you're safe for the day as we receive these electronic files all throughout the day.
Home Banking. Check your browser for updates. These updates help keep your computer more secure. If you miss an update you are putting your computer at risk from viruses and hackers. Please be vigilant. And, by now, if you attempted to log into your home banking, you've had to select new security questions. This is because our software vendor continues to update our site with new security features.
Assets .................................... $106,364,059.99
Shares ........................................... 92,752,391.31
Loans ......................................... 13,057,323.63
Net Worth ............................... 13,288,974.69
You Can Use
New Checking ProgramWe are currently offering two types of checking accounts: Classic and Crescent. The choice is yours; please see the account description for each and decide which will best fit your needs. You may print out the “Account Card” and complete it if you wish, or we will complete it for you. Simply stop by or call our office; we’ll be glad to help you get your credit union checking account open!
If you choose to print the account card and return it to us by mail, you must also select an option on “Courtesy Pay” form, sign the form and return with the Account Card.
New Auto LoansBegin your new car search with us. True dealer cost figures, customer & dealer rebate information. Financing to 72 months for qualifying members (minimum loan amount is $30,000 for 72 mos.).
Visit www.railroadccu.comFINANCIAL REPORTTime to start Saving
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