Membership Opened to 2 New Counties
Welcome Hamilton and Suwannee
Something interesting has been happening in the financial services marketplace of late. While some financial institutions are tackling difficult issues as a result of the credit crisis and great recession, VyStar is continuing to experience steady growth. We are financially strong.
Conservative practices along with consistent growth are keys to our success. Now, VyStar can offer the advantages of membership to even more people.
Don’t forget, anyone who is related to a member by blood, marriage or adoption is also eligible
for VyStar membership - regardless of where they live.
Your credit union consists of regular people who are looking for more in a financial institution. Adding members isn’t simply adding numbers. It is a cooperative effort to help improve financial lives.
How will adding members benefit you?
Extending VyStar membership to more people enables your credit union to continue to grow and prosper. That means more branches, more ATMs, and more products and services to help you manage your money and get the things you need and want. It will also allow us to continue to provide a variety of programs at a lower cost than our competitors and keep our fees to a minimum. Many of our services are free of charge. Because we are not-for-profit, we return profits to our members. There are no shareholders here.
Our social purpose: People Helping People.
Our goal is to do as much as possible for our members to help them succeed and reach their financial goals. We are there for you when times are good, and when you are sometimes faced with financial challenges. Our commitment extends to our communities through supporting local commerce and providing programs and services to meet specific needs, as well as donating funds, time and energy to special causes.
How you can help someone join.
When you have a positive experience with us, we hope you will share it. Send someone you know – neighbor, family member, friend or coworker – to any of our VyStar Branches or have them phone our Call Center at (904) 777-6000 or 800-445-6289, option 9 (hours, locations and contact information are available on our website). From our website at www.vystarcu.org, they can also complete and print a Membership Application (click the tab called “Membership, How To Join Our Credit Union”.) Help us spread the word about the benefits of membership today.
Now Serving 17 Counties: Alachua, Baker, Bradford, Clay, Columbia, Duval, Flagler, Gilchrist, Hamilton, Levy, Marion, Nassau, Putnam, St. Johns, Suwannee, Union, and Volusia.
While we wait for the announcement on this year's selected finalists for the 2010 VyStar Money Makeover competition that begins in May - why not let us help you assess your financial condition to find ways to improve. With a little discipline and the help of your credit union you could change your financial life forever. Anyone can get a Money Makeover - there’s something for everyone and it’s free!
Visit VyStar’s website at www.vystarcu.org and click on Money Makeover for more details and free financial tools to help you. We are bringing Money Makeover to even more people than before.
There’s a good reason why VyStar has achieved top lending status and is recognized as the #1 Used Car Lender in the area. It means more and more people are coming to VyStar for loans. Apply for our new or used auto loan today!
- Customer service excellence
- Low rates
- Flexible terms for affordable payments
- No fees, no prepayment penalties, and no hidden surprises
- Easy application and fast approval - use our Express Consumer Loan Application from our website at www.vystarcu.org. Go to Credit & Lending Center and select "Auto Center" to find a printable application. You can also conveniently apply while you're in Internet Banking - click the "Apply for a Loan" tab and follow the easy steps.
- Insurance, loan protection, and warranty programs at member prices
- Auto Center at www.vystarcu.org will help you find a vehicle (build a car and compare), get answers to your questions to help you do your homework, apply, and learn more about discounted protection programs available to members
Chairman, Board of Directors
It is our pleasure to introduce Esther T. Schultz, VyStar Credit Union’s new Chairman of the Board for 2010. Although she’s our new Chairman, she’s not new to VyStar. Having served on VyStar’s Board of Directors for thirty years, Mrs. Schultz has first-hand VyStar experience on what it takes to make and keep a credit union successful. She previously served as Chairman, as well as Vice Chairman, Treasurer and Secretary, and we welcome her once more to the Chairmanship.
Since 1952, VyStar has relied on dedicated volunteers who spend countless hours and energy to serve on its Board of Directors. These individuals set policy and provide oversight and strategic direction for your credit union to help fulfill the goals and dreams of its membership while ensuring it operates with financial soundness.
VyStar Credit Union’s 58th Annual Membership Meeting was held on March 3, 2010. The following Board members will be serving a three year term: Michael Cascone, Lawrence R. Jacobs and Bobby Waldrup, Ph.D.
Your 2010 Board of Directors and Executive Committee Officers are: Chairman of the Board, Esther T. Schultz; Vice Chairman, Ralph R. Story; Treasurer, P. Kem Siddons; Secretary, Michael Cascone; and Board Members: George R. Berry, P.E. (Ted) Hewitt, Lawrence R. Jacobs, Larry D. Myers and Bobby E. Waldrup.
VyStar’s Supervisory Committee consists of: Chairman, Alfred C. Seablom, Jr.; Secretary, Edward Bobola; and Member, Russell F. Misner.
Strength. Guidance. Commitment.
2009 was a good year for VyStar. Even though the economy continued to show weakness and instability, our conservative financial management philosophy, careful planning and prudent cost controls enabled VyStar to still meet its financial and growth goals. VyStar, as it has since its founding in 1952, remained a source of financial strength, security and guidance to its members.
We provided financial services when others wouldn’t or couldn’t and continued to be a safe haven for people to save or borrow. We achieved record levels of outstanding service to our members and provided guidance to help people better manage their personal finances through our new Money Makeover program. And, unlike many financial institutions, we maintained our commitment to the communities that we serve by providing support and assistance when it was needed most.
A Reliable Source of Credit.
Even in tough economic times, members still have a need for credit. While many financial institutions sharply curtailed their lending VyStar remained a strong and reliable source of credit for its members during 2009.
This growth was led by mortgage loans which showed an increase of 12.00% to $1.5 billion as creditworthy buyers and homeowners took advantage of our competitive rates and unique No Closing Costs Mortgage product to take advantage of bargains in the housing market. Overall consumer loans declined by 5.43% primarily because of the 16.20% decline in new car loans as consumers pulled back on major purchases. This common sense approach to personal finances can also be seen as many people who were looking for reliable transportation turned to used autos. Consequently, used car loans grew by 4.80% which helped VyStar remain the used car lender of choice in Northeast Florida. Our overall credit card portfolio ended 2009 at just under $306 million as consumers and members sought the exceptional value of our low rate, low fee credit card products in contrast to the adjustable, often increasing rate multiple fee credit card products offered by most other financial institutions.
Since small businesses provide most of the job growth in our economy we wanted to ensure that our small business members could rely on VyStar to continue to meet their array of business service and credit needs. VyStar ended 2009 with overall Business Loan balances of $156 million.
For the full version of your VyStar Credit Union 2009 Annual Report, simply go to www.vystarcu.org - click on "About Us" at the top of your screen and select 2009 Annual Report.
IMPROVED MEMBER SERVICE
- Two new branches - Jax Beach and Lake City
- ATMs grew by 5 to a total of 154 in the VyStar network
- New - The VyStar Money Makeover 2009
- New - Remote Check Deposit
- New - Document Imaging
- Expansion of VyChat online
- Internet Banking enrollment increased 18% to almost 234,000
- Bill Payer enrollees increased by 30% to over 77,000
- E-statement enrollees increased by almost 121,000
- VyStar Investment Services grew to over 5,500 members with over $181 million in assets; one of the 5 largest investment programs from CUNA Brokerage Services, Inc. in the nation
- Real Estate Services grew substantially and VyStar Title Agency completed almost 2,700 home closings and title searches
- Mortgage Loans showed an increase of 12.00% to $1.5 billion – VyStar achieved #2 mortgage lender status in Northeast Florida
VyStar conducts Member Service Surveys twice a year to gauge how well we are serving our members and learn how we might improve service. During November 2009 VyStar received the highest levels of member service scores that we’ve ever recorded. On a scale of 1 to 5 (5 being the highest rating) 95% of members rated the overall satisfaction with their credit union a 4 or a 5 with an average rating of 4.65.
STRENGTH IN NUMBERS - VYSTAR CREDIT UNION
Members Grew to: 357,706
Deposits Grew to almost: $3.2 billion
Assets Grew to almost: $4 billion
Loans Grew to over: $2.6 billion
Abundant Capital of: $333 million
Net Worth Ratio (includes regular reserves and undivided earnings, and measures VyStar’s financial strength): 8.33%
Low Competitive Rates
No Hidden Fees
No Surprises
With new credit card legislation, you might be seeing some changes in rate structures or fees on other cards you are carrying. Perhaps it’s time to consider a VyStar Platinum Rewards Visa® with free rewards.
It’s important to get the best possible value in a credit card. Credit card companies have become very competitive. Don’t be fooled by temporary rates that expire in a short period of time. Understand the terms of the cards you have. Don’t pay more fees or worry about those higher interest rates that could go up even more at any time.
Many members tell us they don’t pay any fees on their VyStar credit card at all. At VyStar we keep our fees to a minimum - our credit cards are no different.
VyStar’s no annual fee Platinum Rewards Visa offers a low competitive rate with no transaction fees on purchases, balance transfers and cash advances. Among other great benefits is our Platinum CURewards™ program that earns points on qualified purchases to redeem for free travel and merchandise.
Call VyStar today at (904) 777-6000, option 3 or 800-445-6289, option 3; stop by any VyStar Branch or apply with us online at www.vystarcu.org.
VyStar Platinum Rewards, Gold and Classic Visa® cards are a better value.
- No annual fee
- No inactivity fee
- No over-the-limit fee
- No transaction fees for purchases, balance transfers or cash advances
- No minimum finance charge
- No penalty rates that increase with a late or missed payment
- Low minimum payments
- Free electronic payment services
- Free travel accident insurance
- Free electronic security protection and monitoring services
Tax season ends this month. TurboTax Online® is an easy, accurate and secure way of doing your taxes. Go to VyStar Internet Banking at www.vystarcu.org today to prepare, plan and file your tax return within an online session. TurboTax Online will help you get the maximum refund possible. To complete the process, arrange direct deposit to get your refund fast. More details on how to set up direct deposit are on our website.
Go to www.vystarcu.org today - login to Internet Banking and click the TurboTax tab at the top of the screen to get started.
Credit Union Day with the
JACKSONVILLE SUNS
vs. Mississippi Braves
$5 DISCOUNT COUPONS
SUNDAY - MAY 2ND - 3:05 PM
at the Baseball Grounds of Jacksonville
Enjoy great baseball at a discount. Stop by VyStar locations after April 7th to pick up your coupon to use with your ticket purchase! Special entertainment provided by the ZOOperstars. Available while supplies last.
Now, you can find VyStar on Facebook. Simply click on the familiar icon from our home page at www.vystarcu.org.
© 2010 VyStar Credit Union