President's Message - Peninsula Credit Union

Winter, 2013
Priorities
President’s Message
Jim Morrell, President/CEO
In the recently released movie
“Lincoln”, Stephen Spielberg depicts
a bitter fight that ultimately led to the
passage of the Thirteenth Amendment
abolishing slavery. The film concludes
with a flashback to Lincoln delivering
his Second Inaugural Address on
March 4, 1865, where Abraham
Lincoln said the following: “With high
Inside
Gift & Reloadable Cards
Growing Greener
Peninsula In the Community
Dormant Accounts
Shrink Your Mortgage
2013 Board Elections
Important Notices
hope for the future, no prediction in regard to
it is ventured.”
Over the past several months, we witnessed
one of the most contentious elections in
U.S. Presidential history. Anyone with high
hopes about the future prior to the election,
regardless of what the outcome would be,
likely would have hesitated to venture a guess
about the future. Current disagreements and
bickering in congress about our financial
priorities leave us all hoping that they can find
a way to work things out that serves all of our
futures.
Just as Lincoln had a high hope for the future,
Credit Unions have always held hope that
economic prosperity for all of our members
might be a future that is achievable. Friedrich
Raiffeisen, a founder of credit societies (unions)
in Germany in 1852, was quoted as saying
“Money alone will improve nothing. Much
more important is education in the purposeful
use of funds made available by credit unions to
bring about improved conditions.”
Recently, your Board of Directors met to have
some strategic planning conversations to lay
our path for several years. The discussions were
nothing like those that took place during that
lame duck Congress that President Lincoln
endured at the end of his first term. Nor
were the discussions strung with posturing
and political tactics that we sometime see
today. The strategic planning discussions
were an opportunity to layout foundations
to pursue opportunities and overcome
financial challenges for Peninsula Credit
Union members.
The results produced from Peninsula
Credit Union’s Strategic Planning continue
to ensure financial security for the Credit
Union, takes steps to engage and interact
with members and the communities
we serve, looks to enhance and expand
lending opportunities, pursues ways to
meet members where and when they
would like to be served, and secures
volunteer leadership for your credit union
in the years to come.
We remain committed to a prediction
for the future best summarized by Mr.
L.O. Seljestad, a Peninsula Credit Union
Founding member, “If you want to help
your neighbors that belong to the credit
union, join. They’re there to help people.
The credit union has been a savior for a lot
of people.”
Toll Free 1.800.426.1601
www.pcfcu.org

It doesn’t have to be a Holiday to Send a Gift Card
This Christmas season more people than ever used Gift Cards to send money to loved
ones. Use has grown because people recognize that it is the perfect way to ensure that
recipients enjoy the perfect gift every time. As the holidays wind down, its good to
remember that Gift Cards and Reloadable Debit cards are available all year long.
Gift Cards are like a gift certificate for anything and once they are used up can be
discarded. A gift card gives the recipient the flexibility to choose their own gift and
purchase exactly what they want. Maybe it’s something fun, or maybe something
practical. Purchases can be made online, by phone, or in person, anywhere Visa® debit
cards are accepted.
Reloadable Debit Cards function like
a regular debit card but without the
need to hold an account. Once the
funds are drawn down, they can be
reloaded. They are a safer alternative
to carrying cash, a great way to assist
in staying on budget when traveling
and an attractive alternative to parents
that want to monitor teen spending.
Our Priority is You
Going “Green-er”
Peninsula Credit Union went “green”
a few years ago with our account
statements. Using eStatements is simply
the most convenient, accessible and
secure method for viewing your monthly
account activity. With it you can view
and print your account statements
anytime you choose. Over the years
we’ve added enhancements such as
the ability to view and print images of
cleared checks anytime through our
secure computer interface. Additionally,
with eStatements, there are no bank
statements in your mailbox which can
help prevent identity theft.
Another powerful enhancement to our
service is e-mail notification. This is a
faster way to provide you with account
alerts regarding overdraft fees or NSF
activity. Receiving an alert via e-mail
reduces the time it takes to notify you of
an error. E-alerts provide notification of
an overdraft by the very next day so you
can proactively manage your account.
In an effort to reduce mailing
costs, increase speed and
gain efficiency, we will be
discontinuing the mailing
of paper overdraft notices
effective January 2, 2013.
Don’t let Your Account Hibernate
Has it been over a year since you
have performed a transaction on your
Peninsula account? If “yes”, then you may
be affected by the dormant account fee!
It’s simple to avoid a dormant account
fee, just perform a transaction on the
account. A transaction includes cash or
check deposits and withdrawals. Or we
recommend that you consider expanding
your relationship with Peninsula by taking
out a loan, opening a checking or other
deposit account such as a Money Market
or Certificate. Visit our web site www.
pcfcu.org for information on our loan
and deposit products. Member generated
transactions do not include: dividend
postings or fee postings.
If you don’t perform a member generated
transaction within a year your account
will be placed into a Dormant Account
Status, a hold will be placed on your
account and you must complete cash or
check transaction via in-branch or mail
in order to remove the Dormant Account
Status. Your account will be charged a
$10 monthly fee for every month that
your account remains in a Dormant
Account Status. Please keep in mind that
if an account remains dormant for 3 years,
the State of Washington considers the
money in the account to be Unclaimed
Property. At that time, the Credit Union is
obligated by law to forward the money to
the State of Washington.
Other ways to access and manage your
accounts are Online Banking, Telephone
Banking or by speaking to a Member
Service Representative. Online and
Telephone Banking products provide
up to date account information and
are available 24/7. To enroll in Online
Banking, visit our web site www.pcfcu.
org and click the “sign up” link on
the left, just under the log in box. To
enroll in Telephone banking, speak to a
Member Service Representative at your
branch or call 1-800-426-1601 between
8:30am and 5:30pm.
Our goal is to serve all of your financial
needs by offering products and services
that make banking convenient. Please
sign up for eStatements today!
Auto Loans Home Loans Land Loans Checking Accounts Online Banking Telephone Banking 24 Hour ATMs

Peninsula In the Community
We are grateful for the opportunity
to share the Peninsula difference and
enrich the lives of our members and
communities whenever we can. Several
recent events and recognitions include:
Children’s Miracle Network
Hospitals
The branches
successfully
exceeded their
CU4Kids fundraising
goals of
$2,500. Their
efforts included;
balloon icon salesincluding
the Football Frenzy branch vs.
branch competition, payday jeans day
donation with matching funds, the sales
of Papa Murphy cards and Burger King
coupon books and National Miracle
Jeans Day. These efforts totaled more
than $6000. As a result, Peninsula Credit
Union was invited to participate in the
2012 Miracle Season program. The show
was broadcast live on KOMO Channel 4
Saturday, December 15.
The show, “Miracle Season”, celebrated
the lives of Seattle Children’s Hospital
patients and featured seasonal
entertainment and heartwarming stories.
The money raised from the 1-hour
telethon benefits unfunded care for
children and their families who do not
have insurance or are unable to afford the
cost of care. PCU was proud to provide
volunteers including CEO, Jim Morrell
to answer phones during the telethon.
Current and future efforts include holiday
icon sales, bigger events and even more
community presence and involvement.
Chalcy Blake,
eServices Manager,
was recognized as
one of Kitsap County’s
2012 40 Under Forty”
on October 18, 2012
at a special award
reception at the Kiana
Lodge in Poulsbo.
Peggy Zamzow, was
awarded “Affiliate
of the Year” at the
annual Mason County
Association of Realtors
gala on November
30th. The award
was voted on by the
Association’s membership and focusses
on the quality of work Peggy provides
for those she works with in the world of
mortgages and real estate. Peggy was also
installed into the Board of Directors for a
third term as the Secretary at the event.
Upcoming Events
Peninsula Credit Union is always out
and about expanding membership and
participating in our communities. Here are
a few upcoming events where you can find
us or that we support:
JANUARY 21, 2013
Silent auction to benefit the Boys and Girls
Club of South Puget Sound
February 9, 2013, 10:00-2:00
Free Financial Information Fair, put on by
the Kitsap Community Resources
845 8th Street, Bremerton, WA
360-478-2301
FEBRUARY 21, 2013
West Sound Business Expo
Kitsap Sun Pavilion, Bremerton
MARCH 15-17, 2013
Kitsap Home and Garden Show
Kitsap Sun Pavilion, Bremerton
Sedgewick Jr. High Career Fair
date yet to be determined
SPRING 2013
Peninsula Educational Grants (PEG)
applications will once again be available
and more information will be available in
the Spring Newsletter.
Shrink Your Total Payments by Refinancing to a 10 or 12 Year Mortgage
If you are looking to lower your payments
or pay off your home sooner and take
advantage of record low rates, now is the
right time to get moving. By refinancing
your existing mortgage at lower rates and
shortening the lifespan of your loan, more
of your payment goes to the principal,
that gains you equity. By working with our
experienced lending staff, we will make
sure that your loan and payment is the
right fit for you.
To help you get started we are offering
to waive:
Our loan origination fee..... (up to $2,000.00)
Our underwriting fee..................... ($100.00)
Our processing fee........................ ($580.00)
We will also pay the following third party
costs up to the amounts indicated:
Lenders Title Insurance Policy.......($415.00)
Flood Certification Fee.....................($14.00)
Credit Report Fee............................ ($32.00)
Closing and Escrow Fees............. ($553.00)
Mortgage Recording Charge......... ($100.00)
Market Condition Report................. ($85.00)
That’s a total possible
savings of $3879.00!
Term
APR*
10 year 3.75%
12 year 3.875%
**No closing costs except an appraisal, if needed.
Fees and *APR (Annual Percentage Rate) based on a
$200,000 loan with 0 points. Pay as low as 3.75% on your
mortgage loan with 120 payments of $100.07 for each
$10,000 borrowed. Offer is for a limited time only beginning
January 2nd, 2013 and may be discontinued at any time
without notice. All loans are subject to credit approval
based on credit union underwriting guidelines and may not
be used to refinance a loan booked with the credit union
currently. The maximum loan amount is $200,000 and
minimum loan amount is $50,000. Other rates and terms
are available and may apply based on individual credit
score and secondary market rate adjustments. Applies to
primary residence only. Maximum 80% loan to value. Other
restrictions may apply. **Appraisal deposit of $550.00 will
be collected upon application if needed.
Toll Free 1.800.426.1601 Toll Free 1.800.426.1601 www.pcfcu.org www.pcfcu.org Our Priority is You

General PCU Announcements
Board Elections
Being a volunteer on the Board of Directors for Peninsula Credit
Union is a great service to the entire membership as well as what
makes credit unions different. Two positions are up for election
in 2013. The Nominating Committee has presented the following
candidates for the open three-year terms:
Position #2 - Sue Barnard (incumbent)
Susan Barnard is a National Board Certified Teacher at Choice
Alternative High School, teaching English and biology to 9-12 grade
students. Sue was the Washington State Teacher of the Year 2006
and a finalist for National Teacher of the Year. She has previously
served on the Shelton District Improvement Leadership Team.
She has previous leadership experience serving on the Habitat for
Humanity of Mason County Board as secretary and president, on
a national church board as chair and secretary, and also as state
president of a health organization. She enjoys her work serving as a
Peninsula Credit Union Director.
Position #3 - Bill Schultz (incumbent)
Bill Schultz has been a resident of Shelton/Mason County since
1974 and is a Graduate of Western Washington State College. He
started his career as a High School Mathematics Teacher at Shelton
High School but went into business in 1976 in the financial services
field with the New York Life Insurance Co. where he is presently
still employed. Mr. Schultz has served his community in many
ways including: Charter Board Member of the Mason General
Hospital Foundation, Co-Chairman of the Mason General Hospital
Foundation Charity Golf Tournament, Chairman and/or member of
the MGHF Endowment Committee, Board Member of the former
Tumwater Area Council Boy Scouts of America, Cub Master and
Boy Scout Leader of Pack 110 and Troop 112, Chairman of the
Eagle Scout Board of Review for Mason District, Past President
and former member of the Shelton Kiwanis Club, Member of the
Shelton/Mason County Chamber of Commerce, Board Member
and Coach within the South Mason Youth Soccer Club, Member of
Faith Lutheran Church and Church Council, and has served on the
Peninsula Credit Union Supervisory Committee.
Branch Locations & Hours
Shelton
521 W. Railroad Ave.
Shelton, WA 98584
360-426-1601
Monday - Thursday
Drive-up......8:30 - 5:30
Lobby .........9:00 - 5:30
Friday
Drive-up .....8:30 - 6:00
Lobby..........9:00 - 5:30
Walk-up ATM
Drive-up ATM
equal housing
Belfair
N.E. 23550 Highway 3
Belfair, WA 98528
360-275-6066
Monday - Thursday
Drive-up......9:00 - 5:30
Lobby..........9:00 - 5:00
Friday
Drive-up......9:00 - 6:00
Lobby..........9:00 - 5:30
Saturday
Drive-up......9:00 - 1:00
Lobby Closed
Drive-up ATM
Port Orchard
1081 Bethel Road
Port Orchard, WA 98366
360-876-8898
Monday - Thursday
Drive-up......9:00 - 5:30
Lobby..........9:00 - 5:30
Friday
Drive-up......9:00 - 6:00
Lobby..........9:00 - 5:30
Walk-up ATM
Annual Meeting
Saturday, April 13, 2013, 10:00a.m., Shelton Branch
Please join us for our Annual Meeting and Election. Nominations
for vacancies may also be made by written notification. Such
nominations should be submitted to Len Williams, Secretary of the
Board of Directors, by February 11, 2013. Any petition submitted
for a position should be signed by one percent of the membership
(176 signatures), include a signed statement of qualifications,
biographical data and willingness to serve if elected. Petitioners
should also indicate the position challenged. Credit Union bylaws
establish a minimum age of 18 years as a qualification to vote and
as a qualification to hold office. Elections will not be conducted by
ballot when there is only one nominee for each position to be filled.
There will be no nominations from the floor. If no petitions are
received, the candidates presented by the Nominating Committee
will be declared elected by unanimous ballot.
Supervisory Committee
We are currently looking for a member who would like to join our
Supervisory Committee. The Supervisory Committee is comprised
of members that are appointed and voluntarily serve to ensure the
safety and soundness of the credit union. If you have questions or
would like a volunteer application, contact Teresa at the Shelton
Administration Office, (360) 426-1601 Ext. 3116 or (800) 426-1601.
Important Notices
Your Supervisory Committee is conducting its regularly scheduled account
verification. Please review your year-end statement. A reply from
you is requested where there may be a discrepancy in the account statement
when compared to your account records. Please mail to: Supervisory
Committee, PO Box 621; Shelton, WA 98584. We will research
your account and contact you with a response as quickly as possible.
By federal law, as of 1/1/2013, funds in a non interest-bearing transaction
account (including an IOLTA/IOLA) will no longer receive
unlimited deposit insurance coverage, but will be NCUA-insured to
the standard maximum of $250,000 for each ownership category. For
more information, visit http://www.ncua.gov/Legal/GuidesEtc/Guides-
Manuals/NCUAYourInsuredFunds.pdf
Poulsbo
21505 Market Pl. NW, Ste. 109
Poulsbo, WA 98370
360-697-3011
Monday - Friday
Lobby..........10:00 - 5:00
Walk-up ATM
Your savings federally insured to at least $250,000
and backed by the full faith and credit of the United States Government
NCUA
National Credit Union Administration, a U.S. Government Agency
Port Townsend
1250 W. Sims Way
Port Townsend, WA 98368
360-385-5575
Monday - Friday
Lobby..........9:00 - 5:30
Walk-up ATM
This credit union is federally insured by the National Credit Union Administration.
We do business in accordance with the Federal Fair Lending Law and the Equal Credit Opportunity Act.