4th Quarter 2016 Message

With this letter we send out a very Merry Christmas and Happy New Year from the staff and Board of Directors of your Utilities Credit Union.  Another year is in the books and the start of a new one before us.  Tell your co-workers about the great advantages of belonging to the Credit Union.  A reminder that it only takes $5.00 to open an account and you can start enjoying the benefits of the only Xcel Wisconsin Company credit union!

This past year we had a very successful regularly scheduled exam performed by the Department of Financial Institutions; this means your Credit Union is financially sound and well run.  We also had a good year in our lending area with rates at or near historical lows.  Savings rates have not moved much even though the Federal Reserve raised the Discount Rate (the key lending rate to member banks) .50% in the past 12 months.  The raise in the benchmark rate is starting to have an impact on long term lending rates, however not much on savings rates yet.  As inflation begins to rise you will likely see short term savings rates going up as well.  You can monitor our rates on our web site at myucu.org.

We were saddened to receive a resignation letter from Janet Kowalewski effective December 31, 2016.  Join us in thanking Janet for her service and wish her well for the future.

If the savings rates increase, then lending rates may increase as well.  You might want to think about your big ticket item borrowing in the first quarter of 2017 and beat the rush.  Our staff of Dave Amans, Heidi Schultz, Carol Lueke & Ryan Amans are always ready to help you make the right financial choices.  Please stop in the Credit Union office at Sky Park now located just inside door number 14A on the east side of the building.  Office hours are 12:00 pm to 1:00 pm – Monday thru Friday.  The staff is also available by special appointment. You can also call 715-737-2467 between 11:00 am and 1:00 pm and our email address (myucu@att.net) is a great way to correspond with your questions.  This is your credit union, so please know that you are welcome to use it!

Our Annual Meeting is now set for Thursday, February 23rd starting at 5:00 pm in Bays II & III of Sky Park.  Refreshments and door prizes are always part of the meeting’s highlights.  All members of the Credit Union are invited to join us.

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