Winter 2016 Newsletter

Rio Grande Times
A publication of the
Rio Grande Federal Credit Union

Winter 2016
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The content of this newsletter is not intended to be legal, accounting,
tax or other professional advice. While we believe the information to be reliable,
professional advice should always be obtained by members.

Happy New Year
With the end of 2015, it’s time to reflect on the past year and give thanks. Rio Grande
has a lot to be thankful for. Foremost, we are thankful for loyal members who continue
to recommend us to their family and friends. This bond has allowed us to grow and
offer new products and services. Loyal members are why Rio Grande celebrated its
75th year of membership service in 2015. This is also a time to look forward to 2016
and beyond. We are planning for the future and will be focusing on several initiatives
in 2016 to better serve members and our community.

Thank You! Member Volunteers
One of the unique characteristics of Rio Grande and
most credit unions are the member volunteers who
serve on the Board of Directors, and Supervisory
Committee. These unpaid volunteers ensure the
safe and sound operation of Rio Grande for all
members. The Board of Directors is responsible
for directing and controlling the affairs of the
credit union and providing effective and efficient
management of the credit union’s operations.
They work in conjunction with management in
developing a continuing strategic plan, a yearly
business plan for the credit union. They approve
all changes and new policies and procedures and
meet monthly in overseeing operations. The depth
and breadth of knowledge required to perform
their fiduciary duties is considerable, requiring
considerable time and dedication. The Supervisory
Committee members responsibilities include:
engaging an outside CPA to perform an annual
audit and verifying the accounts of members at least
once every two years, reviewing the performance of
officials and employees – making recommendations
to the board of directors, and auditing, noting
exceptions to policy and procedures, and improving
the daily operations of Rio Grande. During 2015
the following members have volunteered service:

Board of Directors: Dan Steinkirchner, Harold Davis, Allen Baugh, Danny Moore, Jim Hogge, Greg Aggeler,
and Dennis O’Dwyer. Supervisory Committee: Sue Brown, Nona Van Winkle, Greg Aggeler, Harold Raff
and Larry Chovancek.
Thank You to all for your service to Rio Grande and its members. If you are interested in volunteering,
stop by or call the credit union to learn more.

Notice of 2016 Annual Meeting
Mark your calendar and plan on attending the Annual Membership Meeting of Rio Grande Federal
Credit Union on Saturday March 26, 2016. The meeting will be held in the Hospitality Suite at Suplizio
Field, Lincoln Park, 910 N. 12th St., Grand Junction, CO. The meeting will consist of a social time
from 9:00 AM to 9:30 AM, the business meeting at 9:30 AM, and for members with reservations, a
breakfast buffet following the meeting. The business meeting will include the minutes of the last annual
meeting, reports from directors, financial officer, supervisory committee and the election of directors.
Breakfast reservations will be available at both credit union locations from February 22nd until March
21st. Members who make a reservation but do not attend the meeting will be charged $10 for the cost of
the brunch. Reservations/Tickets will not be available at the door.
The appointed nominating committee, consisting of Harold Davis, Danny Moore and Sue Brown, has
filed with the Board the following recommendations to fill the seats up for election: Dan Steinkirchner,
Allen Baugh, Dennis O’Dwyer, Judy Stratton and Harold Raff. Their qualifications and biographical
information is:

Dan Steinkirchner – Currently serves as Chairman
and has served as a board member for Rio Grande
and Mt. Garfield since 1995. He is also a member
of the Asset Liability Committee. He has worked
at Xcel Energy for over 30 years and is Manager of
Design for Grand Junction and Rifle areas. He has
an engineering degree from CSU and a MBA from
Mesa State College. He has been a credit union
member since 1994.

Allen Baugh – Currently serves as Secretary/
Treasurer and has served as a board member for
Rio Grande and Mt. Garfield since 1978 and has
held every board position. He is a Navy veteran
and a graduate of Mesa State College with a degree
in applied science. He has been a credit union
member since 1978.

Dennis O’Dwyer – Currently serves on the board.
He has previously served on the board of the Public
Service Company Credit Union.

Judy Stratton – Judy has over 38 years of experience
in credit union operations and management. She
recently retired from Grand Junction FCU after
serving as their CEO for 18 years.

Harold Raff – Has served on the Supervisory
Committee for the past 3 years. He is retired from
the Union Pacific railroad after 40+ years of service.

Nominations for vacancies may also be made by
petition signed by 1% of the members with a
minimum of 20 and a maximum of 500. (Based
on current membership it would require 48 or
more signatures) each nomination by petition
must also submit a statement of qualifications and
biographical data with a signed certificate stating
that they are agreeable to nomination and will
serve if elected. Nominations by petition must
be filed with the secretary by February 15, 2016.
All nominees will be posted in all locations on
February 20, 2016.

The election will be by mail ballot, which will be
mailed to all members eligible to vote no later than
February 25, 2016, if there are more nominees
than positions to be filled.
There will be no nominations from the floor and
there will not be a ballot when the number of
nominees equals the positions to be filled.

2015 Member Surveys
Thank you to all the members who took the time
to complete and return the Member Surveys they
received. It is greatly appreciated and helps guide
the future of Rio Grande. The surveys provided
some good information. Seventy four percent of
the member responded that Rio Grande was their
primary financial institution. While we have been
growing in members who consider Rio Grande to be
their primary this is the highest response ever received.
Respondents also stated that individual personal
service was the primary determinant in choosing
a primary institution. Over 90% of members were
very satisfied with the level of service received and
their overall satisfaction with Rio Grande. Perhaps
our most satisfying response was that 100% of
responding members would recommend Rio Grande
to their immediate family, co-workers, and friends.
The unsolicited positive comments about the staff
were also very gratifying. One member wrote “Very
impressed with customer service! I’m always treated as
I’m the most important person-member with respect.
I’ve never had an issue with any of my accounts. My
questions and inquiries have been answered promptly
– I feel staff has always gone above and beyond for
me! Thank You”. That member stated what every
employee strives to achieve.

SAVE ON Vehicle Purchase and Refinance
Several years ago research revealed 4 misconceptions consumers have about vehicle purchases and
financing. They were:
• Car dealers will always find the best loan rate and payment.
• Seeking preapprovals or loan offers will destroy their credit rating.
• Auto loan refinancing cost a lot.
• Consumers are aware that credit unions may have better rates, but believe they have to have
perfect credit, or have to be “in the club” to qualify for membership
Getting Pre-Approved by Rio Grande prior to shopping for a car will not have a significant impact on your credit
rating. It will allow you to know what you qualify for and give you the ability to work with the knowledge that if
you make the purchase the financing is already in place. Members can easily, and inexpensively, refinance existing
vehicle loans to a lower rate or different term. Refinancing can reduce monthly payments; amend the term to better
match with today’s financial time. We will gladly discuss options with you to find what is best for you.

EMV Chipped Debit and Credit Cards Coming in 2016
EMV, which stands for Euro Pay, MasterCard, and Visa, is a global standard for cards equipped with
computer chips and the technology used to authenticate chip-card transactions. These new cards are being
issued to improve payment security, making it more difficult for fraud to occur. The upcoming switch means
greater protection against fraud for individuals, merchants and financial institutions. The change over to
EMV cards is a large undertaking for financial institutions and merchants. Merchants have to replace all
point of sale machines and implement new technology.
We will begin issuing the new EMV cards early in 2016 to members whose cards are scheduled for
replacement. If you have any questions, we will do our best to answer them.

Please make a note that we will be closed for the following holidays:
January 1st (Friday) – New Years Day
January 18th (Monday) – Martin Luther King Jr. Day
February 15th (Monday)– Presidents Day
We publish our rates for our members. Shop and compare our rates to those of the
local BANKS you will see the difference – The Rio Grande Difference.

We will once again offer scholarships to members. To qualify applicants must be members of Rio Grande and
either attend or have an acceptance letter from an accredited university, college or vocation trade institute in the state of Colorado. All applicants must be received no later than April 15, 2016. Selection of the recipients will be made on April 19th. More details are contained in the application available at the credit union.
Rio Grande Scholarships will be available – Spring 2016

You are now leaving the Rio Grande Federal Credit Union website and are going to a third party site. The linked site is not owned or controlled by the credit union. The credit union is not responsible for the availability, content, or security of the linked site. The privacy policies of the linked site may differ from those of the credit union and the credit union is not responsible for the compliance of those policies.
You are now leaving the Rio Grande Federal Credit Union website and are going to a third party site. The linked site is not owned or controlled by the credit union. The credit union is not responsible for the availability, content, or security of the linked site. The privacy policies of the linked site may differ from those of the credit union and the credit union is not responsible for the compliance of those policies.
You are now leaving the Rio Grande Federal Credit Union website and are going to a third party site. The linked site is not owned or controlled by the credit union. The credit union is not responsible for the availability, content, or security of the linked site. The privacy policies of the linked site may differ from those of the credit union and the credit union is not responsible for the compliance of those policies.