Spring 2003
Spring Fling Loan Savings! • Another
Great Annual Meeting • Grand Opening
A Huge Success • President's
Letter • What's In A Name? •
A New Location • Our
Credit Union Volunteers • FYI
- - - - - - -
- - - - - - - - - - - - - - -
- - - - - - - - - - -
Spring Fling Loan Savings!
From Now Until Thursday, June 1, 2003!
|
New Vehicle Loans
As Low As
5.75%
APR*
|
|
Used Vehicle Loans
As Low As
5.99%
APR*
|
|
Personal Line of Credit
As Low As
9.00%
APR*
|
|
Home Equity Loan Special!
As Low As
3.99%
APR*
|
|
Home Equity Line of Credit
As Low As
5.00%
APR*
|
Spring into action! Purchase a new or used vehicle, consolidate
debt, make home improvements, finance an education, or borrow
money for those unexpected expenses. Midwest Community's
spring loan savings makes it all affordable.
Tap Your Home Equity
Take advantage of a variable rate Home
Equity Line of Credit and borrow the money you need for
up to 15 years. If you prefer a fixed rate, closed end Home
Equity Loan, call for details. Even better, the interest is
usually tax-deductible.* Consult your tax advisor.
Drive Home A Bargain
Get your New or Used Vehicle
Loan pre-approved with 100% financing, great rates, and
extended terms to keep your payments low.
Personal Line Of Credit
Conveniently borrow the money as you need it. Simply write
a check up to your credit limit.
Refinance & Save!
Refinance loans and/or high interest credit card balances
you have elsewhere and instantly save on interest and lower
your monthly payments.
$50 Cash Bonus Reward
Get a $50 cash bonus reward with any new loan or refinancing
of $2,500 or more. But hurry, this offer ends June 1, 2003.
Applying Is Fast & Easy!
Apply online at www.midwestcommunity.org, call today, or visit
any of our four locations.
*APR=Annual Percentage Rate. Rate shown is
subject to credit approval for qualified applicants. Rates
are subject to change. For current rates and terms contact
the credit union. Tax-deductible interest eligibility depends
on your tax situation and the amount you borrow – check
with your tax advisor. Loan reward will be deposited in your
credit union savings account on loan closing.
- - - - - -
- - - - - - - - - - - - - - -
- - - - - - - - - - - -
Another Great Annual Meeting
The 48th Annual Meeting was held on Saturday, March 8, 2003,
at the Defiance Knights of Columbus. Members enjoyed dinner,
entertainment and some great door prizes. Prior to the Annual
Meeting, members were invited to an open house at the new
Main Office at 08770 State Route 66, Defiance, OH 43512.
The following members were chosen to represent Midwest Community
Federal Credit Union Board of Directors: Richard English,
Kenneth Cantrell, William Flanary, Norman Jones, Ronald Wagner,
Leon Froelich, Steven Sonnenberg, Robert Florence, and David
Meyer.
Thanks to all who attended and helped make it possible.
- - - - - - -
- - - - - - - - - - - - - - -
- - - - - - - - - - -
Grand Opening A Huge Success
The Grand Opening of our new main office took place on Thursday,
April 3, 2003, with giveaways, prizes and refreshments. The
Ribbon Cutting ceremonies kicked off at 8:30 am with Pauline
Westrick – our founding father's wife, along with
Rita Gremling and Lois Corwin – charter members'
wives. They shared stories of Louis Westrick, our founding
father, starting the credit union in 1954 by carrying a sachel
around the GM plant to take deposits. Sonja Hann spoke about
today's success and growth, as well as our future vision.
Other speakers included John Florian from the Ohio Credit
Union League, Floyd Culvert, Defiance Chamber of Commerce
representative, and Phillip Buell, former credit union CEO.
The Grand Opening was followed on Friday, April 4, 2003, with
a live remote by our local radio station WDFM, the Mix, 98.1.
Steve Newman was the lucky winner of our "Grand"
prize, a $1,000 giveaway.
Special honor was paid to all the charter members including
Eugene Mangas, Wayne Brown, Lynn Leonhardt, Eugene Gremling,
William Grimes, Ted Davis, Dave Keliiholakai, William Corwin,
Lee Wilder, and William Merritte.
Everyone enjoyed the presentation to honor Pauline Westrick,
Lois Corwin and Rita Gremling, the only surviving representatives
of our charter members that included a gift on their husbands'
behalf.
Our thanks go out to all the members who made our Grand Opening
Week possible. All of us at Midwest Community Federal Credit
Union look forward
to serving you in the future.
- - - - -
- - - - - - - - - - - - - - -
- - - - - - - - - - - - -
President's Letter
Life is full of change. Midwest Community's change to
a community charter now allows your credit union to provide
affordable, lifetime financial solutions to all who live,
work, worship, or go to school in the six counties of Northwest
Ohio. Your credit union has a good thing going and we want
to be able to share our financial services philosophy with
as many as we can. Though your credit union has not changed
its service philosophy or dedication to our original member
base, we needed a new name to reflect the message that we
are now a community credit union. We chose Midwest Community
Federal Credit Union because of its positive, fresh, upbeat
image, its reference to our service location in the "Midwest,"
and to reference our service of the entire six-county community.
Final on our list of positive changes was Midwest Community's
grand opening of our new main office on April 3, 2003. Our
honored guests and ribbon cutters for the event, Pauline Westrick
– wife of founding father Louis Westrick, Rita Gremling
– wife of charter member Eugene Gremling, and Lois Corwin
– wife of charter member William Corwin, helped us reflect
on our past and where our credit union has grown from. While
we have grown and changed tremendously since our birth in
1954, we have not forgotten our roots or the credit union
tradition.
While most change is good, it sometimes comes with sadness.
In March of this year our President, Phil Buell, changed directions
in his career to move to a new credit union, Lima Superior
Federal Credit Union. Phil has done a tremendous job the past
six years leading our credit union down the path of success
to where we are today. Our community charter, expanded services,
and new office building would not have been possible without
his vision. Although Phil's departure seemed sudden to
some, his new career at Lima Superior had been planned for
several years. The prior CEO at Lima Superior FCU had hand
picked Phil to be his successor and groomed him until he was
ready to step down for retirement. Although the Board, management
and staff of Midwest Community are saddened to see Phil leave,
we wish him goodwill and success in his new endeavor.
Change, for most, is very hard to manage. So many of us seem
to have unimaginable amounts of stress in our lives due to
all the changes we encounter everyday. At Midwest Community
we understand we have put our membership through a lot of
change in the past year. Like you, our Board, managers and
specifically, our staff, have had to bear a lot of change
and stress this past year, too. I commend our staff, managers
and Board for all their hard work and dedication in making
Midwest Community's vision a reality for our members
and the community. Even more, I want to thank you, our members,
for your patience and understanding through all the changes
we have made. I am proud of the credit union we have all built,
and as owners of this financial cooperative, I hope you are
too! The financial future before all of us is filled with
great opportunity. Let's work together to make it become
a reality.
- - - - - - - -
- - - - - - - - - - - - - - -
- - - - - - - - - -
What's In A Name?
Many of you are now aware that your credit union's name
has changed to Midwest Community Federal Credit Union. However,
some of you might be wondering why the name had to change.
There are several reasons for the alteration, all revolving
around the survival and health of our credit union to serve
future generations.
Did you know that 20 years ago there were over 20,000 credit
unions in the United States? That number has dwindled to 8,000
today, and is projected to shrink to 5,000 credit unions over
the next 10 years. Back when DEICO (later Employees Own FCU
and then Midwest Community FCU) was founded in 1954, all credit
unions started with Single Employee Groups as their field
of membership. The 70's brought the hazards of major
select employee groups closing and downsizing causing credit
unions to merge or close. As a result, the NCUA passed regulations
allowing credit unions to add multiple employee groups and
entire communities to their fields of membership. Financial
health and survival to serve future generations with the credit
union philosophy was their goal.
When DEICO was founded in 1954, the credit union's select
employee group consisted of all salary and hourly employees
of General Motors. The 70's brought Employees Own FCU
diversification through over 60 employee groups. However,
by 1999 the Board and managers realized room to grow through
additional employee groups was limited. Yet, credit union
growth was still needed to realize operational efficiencies
that would allow this credit union to successfully serve our
children, grandchildren and beyond. As a result, your credit
union applied for, and was granted, a community charter in
2001.
The community charter, with all of its benefits and opportunities,
brought with it the issue of the credit union's name.
The Board and management, with the help of a consulting group,
realized that the credit union's name now needed to reflect
the expanded community that it would be serving. Seventy names
were submitted by members, Board, managers and credit union
staff for consideration. This diverse list of names was first
narrowed to 20, and then to ten finalists. The Board then
voted for their favorite name. A favorite name, Horizon Financial,
was chosen. However, several Board members voiced concern
that the new name still failed to reflect our community charter.
A name that had been eliminated from the original list of
seventy, Midwest Community, was placed back on the table for
consideration, and the rest is history.
There are some who may be concerned that Midwest Community
is losing its identity and dedication to our core employee
group. That is not the case. In fact, we realize as a credit
union how important our past history is to our success in
the future. But think for a moment of your children, their
children, and so on. If we limited our scope of service to
our original core base, how many of our future generations
who might go on to jobs in the service industry, military,
professional careers, or as small business owners would qualify
to become members? Do we want to limit our field of membership
so much that new sources for growth are eliminated?
As owners of our credit union I think we all want what is
best for our financial cooperative. With a healthy credit
union and a broad field of membership, we as members and future
members can all realize our financial dreams. That is the
credit union philosophy at work.
- - - - - - - - -
- - - - - - - - - - - - - -
- - - - - - - - - -
A New Location
The MEMBERS Financial Services Program is moving its primary
location, but not my commitment to you. On April 3, 2003,
I moved to the new credit union office. My new address and
phone number are:
Midwest Community FCU
08770 SR 66 • Defiance, OH 43512
Office: 419-783-6540 • Cell: 260-704-7542
Fax: 419-783-6550
I will continue to be at the credit union on Wednesdays and
Thursdays starting at 9:00 am for appointments. Stop by and
see the new building,
and my new office located off the lobby.
Representatives are registered through, and
securities sold through, CUNA Brokerage Services, Inc. (CBSI),
member NASD/SIPC, 2000 Heritage Way, Waverly, Iowa, 50677,
toll free (866) 512-6109. Insurance sold through licensed
CUNA Mutual Life Insurance Company Representatives, and in
New York, licensed insurance representatives of other companies.
Non-deposit investment products are not federally insured,
involve investment risk, may lose value and are not obligations
of or guaranteed by the credit union.
- - - - - - - -
- - - - - - - - - - - - - - -
- - - - - - - - - -
Our Credit Union Volunteers
Vol-un-teer n 1: a person, who of his own
free will, offers himself for a service or duty.
According to Webster's Dictionary a volunteer is a person
who gives freely of themselves a service or duty to others.
Many Midwest Community members might not realize that the
Board of Directors and all other committee members of the
credit union give their time, talent, and treasure without
compensation to help guide our financial cooperative.
At a time in our country when volunteerism has declined steeply,
Midwest Community Federal Credit Union is extremely grateful
for all of the time and talent our volunteer Board and committees
have given to us. Not only do our volunteers attend several
meetings each month, they also have special functions and
events to attend, meeting minutes and correspondence to write,
educational requirements to meet, and credit union issues
to address with our members. Most volunteers must take unpaid
time off work to attend meetings, sacrifice time with their
families, and take personal or vacation time to attend required
educational courses. Yet none of these individuals do so begrudgingly.
They give to Midwest Community FCU because they want to see
their financial cooperative succeed and make a difference
in the lives of others.
Midwest Community FCU has been very fortunate over the years
to attract so many wonderful volunteers to help guide the
credit union. From our founding father, Louis Westrick and
his wife Pauline, who hand reconciled accounts into the late
hours of night, to our current Chairman of the Board, Richard
English, who has given unselfishly to the credit union over
twenty years, we owe all our volunteers endless thanks. Please
let them know how much you appreciate their contribution to
your financial cooperative the next time you run in to one
of them.
- - - - - - - -
- - - - - - - - - - - - - - -
- - - - - - - - - -
FYI
Discount Amusement Park Tickets Coming Soon
Each summer, the credit union offers discount tickets for
area attractions, and this year is no exception! We will have
discount tickets for Cedar Point, Kings Island, and Six Flags
available beginning in the final week of May. Contact the
credit union for prices and more information.
The Louis E. Westrick Scholarship – Our Commitment
To Education
At Midwest Community Federal Credit Union we strongly believe
in the importance of a good education. That's why every
year we offer a scholarship on behalf of Louis E. Westrick,
our founding father. This scholarship is awarded to a high
school senior who plans to continue their education. Applications
are available at all credit union locations. All entries must
be received by May 15, 2003.
Holiday Closings
All credit union offices will be closed to observe the following
holiday:
Memorial Day
Monday, May 26, 2003
Chicken BBQ Fundraiser
Friday, May 16, 2003
6:00 pm – 8:00 pm
Defiance College Justin F. Coressel Stadium
$6.00 Meal (1/2 chicken & two sides)
Tickets are being sold at all Credit Union locations.
All Proceeds Go To American Cancer Society
