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August 2018 Newsletter

Interra Credit Union August 2018 Newsletter

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Grand Opening

INTERRA CREDIT UNION celebrated the opening of its new Financial Resource Center in Plymouth with a ribbon cutting. On hand were Laurie Tatich, mortgage loan originator; Jamie Bales, regional vice president; Susan Cripe, supervisory committee; Carl Stotzfus, Loren Eash, and David Eby, board members; Amy Sink, CEO; Duane Wilcoxson, chief information officer; Plymouth Mayor Mark Senter; Vince Beasley, board member; Jim Henning, chief financial officer; Andy Marshall, chief  operating  officer; Phil Wiens, chief retail officer; Connie Holzwart, executive director, Plymouth Chamber of Commerce; Adam Bujalski, treasury management officer; and Jackie Peters, manager. The new office is located at 1629 N. Michigan St., in the plaza across from Centennial Park.

Certificate Special 

Wow! Look at this rate!

3.04% APY1 37-month Certificate Special2

  • Open with as little as $1,000.00
  • Consumer, business and IRA accounts are eligible.3

Hurry! Limited time offer.

1Annual percentage yield. The APY is accurate as of August 1, 2018. Jumbo rate not available. 2Rates and terms subject to change without notice. At maturity, the certificate will automatically renew at the then-current 36-month rate. Six-month penalty for early withdrawal. 3The credit union reserves the right to limit the amount of a certificate.

Debit to Win It. August BBQ Package

You get an automatic entry for great prizes each and every time you make a purchase with your Interra debit card.

Learn all about Debit to Win It at interracu.com/winit or visit any Interra office.

Earn more with Flex Checking!

Earn up to 5.00% APY1 with Interra’s NEW Flex Checking account. That’s right – up to 5.00% APY!

On balances up to $10,000:

  • Earn 5.00% APY when you have at least 50 debit card purchases post and clear your account each qualification cycle.
  • Earn 2.00% APY when you have between 20 and 49 debit card purchases post and clear your account each qualification cycle.

Get up to $25 in ATM fees refunded monthly. It’s easy to qualify each cycle:

  • Have the qualifying debit card purchases post and clear the account each qualification cycle.
  • Have at least one direct deposit or an ACH auto debit post and clear your account each cycle.
  • Enroll in and receive e-Statements. (A valid e-mail address to which we can deliver is required.)

What happens if you don’t meet the qualifications?

Don’t worry. With Flex Checking, you can flex between qualifying levels. You can start over during the next qualification cycle. You’ll still earn at the Base Rate on your entire balance.

Start earning MORE, today!

  • Open a new Flex Checking account at any Interra office or get started today.

1Annual percentage yield. APYs effective July 1, 2018, and subject to change without notice. Fees may reduce earnings on the account. $25.00 minimum opening balance. Rate tiers: Bonus Rate 1: 5.00% APY on balances of $0.01-$10,000.00 and 50+ debit card purchases per cycle; Bonus Rate 2: 2.00% APY on balances of $0.01-$10,000.00 and 20-49 debit card purchases per cycle; Second Tiered Rate: 0.30% APY on balances over $10,000.00 and at least 20 debit card purchases per cycle; Base Rate: 0.01% APY applies to all balances if qualifications are not met. The monthly statement will reflect a blended APY if you have balances in different tiers. Dividends are variable based on tier and dependent on all qualifications being met.

Etna Green, Osceola Offices to Close August 31

Interra Credit Union’s Etna Green and Osceola offices will close at the end of business on August 31, Andy Marshall, Executive Vice President/Chief Operating Officer, announced. “Since both of these offices have been in operation, the anticipated level of deposit and loan activity has not reached a sustainable level for us to keep them open,” he said.

While the offices are closing, other locations provide nearby options. Members who have used the Osceola office may find the Wakarusa or Elkhart CR 17 offices convenient. The Etna Green area members have close access to the Nappanee, Bremen and Plymouth offices.

“In addition, over the past many years, Interra has made significant investments in updated electronic solutions that provide 24/7 access from anywhere, like online banking, mobile banking and mobile deposit,” Marshall pointed out.

“The board and senior management team made this decision after careful consideration, as we value the relationships we have built in both communities,” Marshall noted. The employees who work at Etna Green and Osceola are all being retained and will be placed in current Interra locations after these branch closures.

Student Loans and Consolidations

Private Student Loans

College costs aren’t going down. When students and their parents combine personal savings, scholarships, government student loans and other options, those resources may not cover the costs needed to pay for an education.

Interra Credit Union can help fill funding gaps that federal aid and other resources may leave behind with a private student loan program. Interra’s loans have no origination fees, low rates and flexible repayment options.

After scholarships and grants, plan to take the maximum amount of federal loans before applying for a private student loan. Be sure to read the fine print and compare fees, terms and repayment options (not just rates) when looking for a private student loan, as it will need to be repaid after graduation.

To learn more about the financial aid process and how to choose student loans, visit interracu.com/student-loans, or contact Interra directly. You can also apply by phone, 24/7, at 866.430.0303.

Consolidation Loans

Interra’s consolidation program can help you take control of your student loans. It allows borrowers to refinance and consolidate private and federal student loans, including PLUS loans.1

For more information, go to interracu.studentchoice.org, click on FIND A LOAN and choose STUDENT LOAN REFINANCE. You may also call or visit any Interra office.

1Subject to credit qualification and additional criteria, including graduating from an approved school.

IMPORTANT NOTICE: By refinancing federal student loans, you may lose certain borrower benefits from your original loans. These may include interest rate discounts, principal rebates, or some cancellation benefits that can significantly reduce the cost of repaying your loans.

Earn MORE with an e-Money Market Account

Open a new e-MMSA online and earn a higher rate for higher balances, better than Interra’s regular MMSA!

Here are the account details:

  • $10,000.00 minimum opening deposit.
  • A tiered rate account — blended rate calculation, weighted according to the balance.
  • You may make unlimited deposits.
    • You may make up to four free withdrawals or transfers each month; thereafter the excess transaction fee is $10 per item. In addition, there may be other regulatory withdrawal/ transfer limitations.
  • In order to avoid a $25 monthly service fee:
    • Maintain an average daily balance of at least $10,000.00
    • Have at least one electronic deposit of $100 or more post and clear the account each month.
    • Be enrolled in Interra Online Banking.
    • Enroll in and receive e-statements, including all Interra accounts under your member account number (a valid email address to which Interra can deliver).

Open an e-MMSA today! Get started at interracu.com/money-market-accounts.