May 2020 Newsletter

May 2020 Newsletter. Market update, Alliance articles, Notice to members, Meet Amber - VP of compliance.

Ask us about No Payments for 90 Days! NEW|USED|REFINANCE . Offer Deadline May 31st . Rates as lows as 2.6% APR

LEARN MORE & APPLY TODAY!

APR=Annual Percentage Rate. Quoted rate is the lowest available rate and reflects all Scowls. Loans subject to credit qualification and approval. Your rate oil be based on your creditworthness and may be higher. Milinum ban amount is 510.000. Offer does not apply to current ALLIANCE Credit Union loans. Interest will accrue during the payment deferral period.

MARKET UPDATE

During this time of economic uncertainty, each of us have faced impacts that will certainly change us and obscure our view of the future. The national unemployment rate is projected to reach 16% when the Jobs Report is delivered this Friday. Unemployment numbers have not reached these heights since the mid 1940's. Oil, on the other hand, rebounded quickly after last month's negative pricing and sits just over $20 ppb for now. The 10-year treasury is hovering right around 0.64%, and the FOMC (Federal Open Market Committee) is holding the target Fed Funds rate at the 0-0 25% mark for the foreseeable future. Auto sales dropped by nearly 50% month-over-month from March to April, finishing at the lowest level since 1976; which isn't too surprising considering that most dealerships were closed during that time.

Due to previous investments in digital banking technology, ALLIANCE has been well positioned to continue serving our members throughout the COVID-19 Pandemic. We have continued to see sustained growth amidst these unprecedented economic conditions. We have faith in our local economy and the resilience of our membership, and firmly believe we will get through this together; stronger than before.

ALLIANCE ARTICLES

  • CU CRISIS RESPONSE
  • ABBIE'S REFI STORY

NOTICE TO MEMBERS:

During this time, we are seeing a large increase in card fraud attempts. Fraudsters are attempting to use stolen card numbers to make online purchases. We want our members to be aware, be vigilant, and be protected.

One way to protect your account is through Remote Control Cards, a feature of ALLIANCE Mobile & Online Banking. If you have not registered for Online Banking, you can do so by clicking HERE. Once registered, you can access the Remote Control Cards feature by logging into Online Banking or by downloading the ALLIANCE Mobile App and logging in with your password, thumbprint, or facial ID.

Remote Control Cards allows you to turn your cards on or off with the push of a button. Controlling your cards in this way is extremely effective in preventing fraudulent charges to your account. When your card is toggled off and inactive, no card charges for that specific card will process through your account. When you need to make a legitimate purchase, just turn the card back on, and return it to inactive when you're done. All changes to your card's status happen in real-time making it easy to protect your account from fraud.

For instructions on how to access and control your cards click HERE. For more information on how to protect your ALLIANCE accounts visit our Fraud Prevention and Alerts page.

If you have questions or think you may have been a victim of fraud, please reach out to the ALLIANCE eSolutions team by calling 806.798.5554.

Mortgage Minutiae

ALLIANCE retains all Conventional Mortgage Loans with a 680+ credit score and just 5% down.

Access your Account ANYTIME. ANYWHERE Download the ALLIANCE Mobile App Today!

 

Whats's going on at ALLIANCE

On March 23, 2020, we announced that the 2020 ALLIANCE Credit Union Annual Meeting of members was being postponed. Now, we would like to announce that the 80th Annual Meeting has been rescheduled. The dinner and prize portion of the meeting has been cancelled. However, we will still conduct a short business meeting beginning at 6:30 pm on Thursday, May 28, 2020. This years meeting will be held via phone conference. Members will be notified of the registration process and call details via email approximately one week prior to the May 28th meeting. Please mark your calendar and watch for upcoming event details.

  • ALLIANCE partnered with Threads Alterations and Alterations unlimited, to produce and donate over 600 masks for nurses, hospice staff, and other essential medical staff in Lubbock. We want to send a special THANK YOU to these two local businesses for partnering with us on this project.
  • Be on the lookout for more information about the opening of our new ALLIANCE Credit Union Main Branch & Corporate Offices, coming soon! Here is a sneak peek of our new building! It's been a long time in the making and we can't wait to begin serving our members from this new location.
  • Each year, Credit Unions make a point to focus on encouraging our young members to develop healthy financial habits during the month of April. At ALLIANCE we offer Banzai, an online financial literacy program, for FREE, year round! To learn more and get started today, click HERE.

Meet Amber - VP of Compliance @ ALLIANCE

Meet Amber, Vice President of Compliance at ALLIANCE Credit Union.

Amber began working at ALLIANCE in November of 2014 as the Training/Operations Director and is now the VP of Compliance.

Amber is passionate about the Credit Union movement because of her past experience with other financial institutions. Before coming to ALLIANCE, Amber's work history included working for banks. She didn't really understand the difference between Credit Unions and banks. Once she came to ALLIANCE, she realized that Credit Unions don't emphasize making a profit, rather, they prioritize benefiting their members and the community, and she greatly values this priority."It's not about making the biggest profit we can possibly make; it's about benefiting our members. I think that is really inspiring and that gets me excited about ALLIANCE. I couldn't say that about other jobs I've had in the past."

For Amber, a typical day outside of work is one usually filled with lots of baseball. Her oldest plays travel ball. So, between baseball practices and games, if she has down time, she likes to spend it with her family.

When asked about who Amber admires most, she said her maternal grandfather. "He has passed away, but growing up he was the most loving, generous, and thoughtful person. He would literally give you the shirt on his back if he had to." Amber explained how he was always there for his family and friends. She named her youngest after him because she admires him so much.

What motivates Amber to go to work every day is her love for what she does and the people that she works with. She said there are not a lot of people in this world who like compliance, but she actually enjoys it a lot. When it comes to the people she works with she said,"They work really hard and want to serve our members really well and I think that is a big motivator for me."

Amber has experienced a lot of growth at ALLIANCE. Coming from a larger bank, you focus on one or two particular areas at work. But with ALLIANCE, she was able to expand her knowledge and learn a little bit about everything. "With a bigger institution, you focus on certain things. With a smaller financial institution, you wear many hats."

Looking into the future, Amber is really excited about the starting of the ALLIANCE Foundation. She was able to lead the creation of the foundation and is really excited about what it's going to bring for the community. She is also excited about seeing how our membership reacts to recent changes we have made. "I want to see if they like the products, if they like what we've done. We seem to offer new products all the time, and I am excited to see what we come up with next."

NOTICE OF DOCUMENTS AVAILABLE TO ALL MEMBERS

Documents Available to Members. Upon request. a member is entitled to review or receive a copy of the most recent version of the blowing credit union documents:

  • Balance sheet and income statement (the non-confidential pages of the latest cal report may be given to meet this requirement)
  • A summary of the most recent annual audit completed in accordance with 91.516 of this chapter (relating to Audits and Verification)
  • Written board policy regarding access to the articles of incorporation. bylaws. rules. guidelines. board policies. and copies thereof. and
  • Internal Revenue Service Form 990

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