News & Specials
Credit Union declares 1st quarter dividends
The Shelter Credit Union board of directors announced on March 21 that the Credit Union will pay dividends of .25% APR on share (savings) accounts, and 0.05% APR on checking accounts over $500, in the 1st quarter of 2018 (January, February, and March, 2018).
Spring Loan Promotion underway
Credit Union members meet for 61st annual meeting
The 61st Annual Meeting of the Shelter Insurance Federal Credit Union was held in the Home Office Cafeteria at 7:00 p.m., Monday, February 12, 2018.
Above: Jacki Swank, Credit Union president, opened the meeting by introducing herself and welcoming members and guests to the meeting. She proceeded by introducing the board of directors and acknowledged the time and effort they donate. She went on to briefly discuss the roles of the key committees that help direct the credit union’s operations. Jacki expressed her pride and appreciation of the credit union staff who she considers the heart, soul and foundation for our credit union. She introduced each one to the attendees.
Above: A special welcome was then extended to all retirees including charter members Terry and Erma Pauley, who were presented flowers by Tina Workman board chair. The Pauleys have been present at all but one of the Credit Union’s 61 annual meetings.
Tina Workman, board chair, presented the 2017 financial statements. She pointed to the credit union’s strong balance sheet and briefly discussed how the low interest rate environment affects profit margins and shareholder dividends.
Above: Two oversight committee reports were presented. Todd Sanders (right) presented the Credit Committee Report and Brian Trenhaile (left) presented the Supervisory Report.
Jacki Swank made the following comments in her President’s Report:
- 2017 was a good year. The dividend rate was raised multiple times and we hope to continue to do so in 2018.
- CD investment rates are steadily increasing so investment income should continue to increase in 2018.
- Long term investments in mortgage backed securities continue to play a significant role in portfolio earnings. In 2017, long term investments made up about 27% of total investment portfolio, yet they generated 44% of investment income.
- The credit union ran a promotion designed to increase the number of members who get their statement electronically. As an incentive, members who signed-up for e-statements in the month of February were entered into a drawing for a $50 gift card to the restaurant of their choice.
In closing, Jacki said that the credit union looks forward to a prosperous 2018. She also thanked attendees for their membership and wanted them to know that we truly value each and every one of them.
In new business, Tina presented the 2018 Budget.
Ballots were distributed to all attendees to vote to fill four positions on the Board of Directors. Jon Imhoff, Lyn Scrivner, Darren Moore, and Jennifer Tade. were elected to terms on the Board of Directors with a voice vote of the membership in attendance.
Following the adjournment of the business meeting, board members reconvened to elect officers for the coming year with the following officers being named:
Jon Imhoff — Chairperson
Darren Moore — Vice-Chairperson
Allen Finley — Secretary
Ryan Tate — Treasurer
The meeting adjourned at 7:40 p.m. The Credit Union Staff then coordinated the distribution of door prizes. Attendees were rewarded with attendance prizes. Young members had their choice of gifts displayed on the prize table, while lucky adult members were able to choose a gift certificate for a local business.
61st Annual Meeting Minutes
Shelter Federal Credit Union Annual Meeting Minutes
February 12, 2018
Jacki opened the meeting by introducing herself and welcoming members and guests to the meeting. She proceeded by introducing the board of directors and acknowledged the time and effort they donate. She went on to briefly discuss the roles of the key committees which help direct the credit union’s operations.
The Asset Liability Committee meets monthly and has the important function of measuring and managing the various risks of the Credit Union including recommending changes to loan rates, dividend payments and investment policies. Special recognition and thanks were extended to Gary Ford for his contribution to this committee and the advisory services which he provides.
The Supervisory Committee provides oversight and guidance for internal operations. They monitor and audit various areas for compliance throughout the year.
Finally, the Credit Committee is a very active committee which meets every Tuesday and Thursday to review loan applications.
Jacki expressed her pride and appreciation of the credit union staff who she considers the heart, soul and foundation for our credit union. She introduced each one to the attendees. She then recognized Bruce Meentemeyer for his help in keeping the credit union’s website up to date and for taking pictures this evening. Jacki also thanked Patty Colvin-Monnig of Facilities and Bill Going’s Cafeteria staff for their contribution to the annual meeting.
A special welcome was then extended to all retirees including charter member Terry Pauley and his wife Erma who were presented flowers by Chairman of the Board Tina Workman.
At that time, Jacki turned the meeting over to the Chairman Workman.
The 61st annual meeting of the Shelter Insurance Federal Credit Union was called to order at 7:05 pm on February 12, 2018 by Board Chairman, Tina Workman. Tina acknowledged and thanked the credit union staff for their dedication and efforts this past year. She then declared a quorum was present.
The first order of business was approval of the 2017 annual meeting minutes. Erma Pauley moved and Bill Johnston seconded the approval of the minutes which were subsequently approved by a voice vote of the attendees.
Tina Workman then presented the 2017 financial statements. She pointed to the credit union’s strong balance sheet and briefly discussed how the low interest rate environment affects profit margins and shareholder dividends. On a motion from Paul LaRose, a second from Wade Forsythe and an affirmative voice vote from the attendees, the financial statements were approved. A copy of the financials can be found in the Original Minutes Book.
Next, the two oversight committee reports were presented. Committee member Todd Sanders presented the Credit Committee Report and Committee member Brian Trenhaile presented the Supervisory Report. On the motion made by Sheila Joyce and a second from Sue Kincade, the committee reports were approved by a voice vote of the membership that was present.
Tina then turned the meeting over to President Jacki Swank for the President’s Report.
Jacki made the following comments in her report:
- 2017 was a good year. We were able to raise the dividend rate multiple times and we hope to continue to do so in 2018.
- CD investment rates are steadily increasing so our investment income should continue to increase in 2018.
- Our long term investments in mortgage backed securities continue to play a significant role in our portfolio earnings. In 2017, our long term investments made up about 27% of our total investment portfolio yet they generated 44% of our investment income.
- The credit union is currently running a promotion designed to increase the number of members who get their statement electronically. As an incentive, members who sign up for e-statements in the month of February will get entered into a drawing for a $50.00 Gift card to the restaurant of their choice.
In closing, Jacki stated that the credit union looks forward to a prosperous 2018. She also thanked the attendees for their membership and wanted them to know that we truly value each and every one of them. Please keep the credit union in mind for your future financial needs.
Please remember after the meeting portion we will give out raffle prizes there will be refreshments served.
At that moment, Jacki turned to meeting back over to Tina Workman.
Tina opened the floor for old business and there was none.
Tina presented the 2018 Budget. On a motion from David Lang, and a second from David Mallory the 2018 budget was approved by a voice vote from the membership attending.
Ballots were distributed to all attendees to vote to fill four (4) Board of Directors positions becoming available. The listed nominees were Jon Imhoff, Lyn Scrivner, Darren Moore, and Jennifer Tade. The ballot also allowed for additional nominations and write-in candidates. Member Paul LaRose moved the four listed nominees be accepted by acclamation and this was seconded by Sheila Joyce. Subsequently the listed nominees were accepted by a voice vote from the attending members.
Tina then entertained a motion that the meeting be adjourned. Pam George made the motion and it was seconded by Todd Sanders. After an affirmative vote by the attending members, the meeting adjourned at approximately 7:40 pm. The Credit Union Staff then coordinated the distribution of door prizes.
Tina Workman, Chair Al Finley, Acting Secretary
* Minutes of prior annual meetings are available by request directed to the Credit Union president.
Credit Union declares 4th quarter dividends
The Shelter Credit Union board of directors announced that the Credit Union will pay dividends of .20% APR on share (savings) accounts, and 0.05% APR on checking accounts over $500, in the 4th quarter of 2017 (October, November and December, 2017).
Credit Union members receive a discounted loan rate on company car purchases
If you’re in the market to buy a dependable, economical and affordable Shelter company fleet car, then the Shelter Insurance Federal Credit Union can help make your buying experience even more affordable with the Shelter Fleet Vehicle Loan Discount, which is available to all Credit Union members.
Your Credit Union’s special discounted rate of 0.5% off currently posted vehicle loan rates is available to members on the purchase of any company fleet vehicle—those sold by auction bid and those sold by listed price.
You’re not a Credit Union member? It takes only a few minutes and $5 to join!
Joining the Credit Union is as simple as completing an application and submitting $5 dollars! Begin taking advantage of numerous benefits of Credit Union membership now. Members of your immediate family who are living in the same household are eligible to join and receive full membership benefits, as well. To obtain a Membership Application and more information about membership, drop by the Credit Union at the Home Office or contact a staff member of the Credit Union at 573-214-4207.
The Purchasing Department has Shelter fleet vehicles for sale frequently and the offering of available vehicles changes often. For additional information about purchasing a company vehicle, please contact Rhonda Monnig at 573-214-4175
After you select a vehicle, then visit the Credit Union and complete a vehicle loan application as you would with any other vehicle.
As noted by the Purchasing Department, all vehicles are sold on an “as is, where is” basis and Shelter Insurance Companies makes no warranties, either expressed or implied, regarding merchantability or fitness for a specific purpose. All vehicles are located in Columbia, Mo., and the purchaser is responsible for transportation of the vehicle.
Get cash with your Credit Union Debit Card at Central Bank of Boone County ATMs
News for Shelter Credit Union Debit Card holders: You can withdraw funds using your Shelter Credit Union Debit Card from any of the 26 Central Bank of Boone County ATM locations in Central Missouri with NO transaction fee.
You may get cash and check your balance, but deposits to your Shelter Credit Union account CANNOT be made at Central Bank of Boone County ATMs.
Columbia ATM Locations:
West Broadway & Worley – 1005 W. Worley
Downtown – 720 E. Broadway
Downtown – 15 S. 8th St.
The Heidelberg – 410 S. 9th St.
MU Student Center
UMC Hospital – One Hospital Dr.
Forum – Forum Blvd. & Forum Katy Parkway
Stadium Shoppes – 301 N. Stadium
Columbia Mall – 2 locations inside Columbia Mall
Keene – 900 N. Keene
Midway – 6401 W. Hwy. 40
Motor Bank – 203 Walnut
Village Bank – 1916 Paris Rd. (Rt. B)
South County – ASHLAND – 405 E. Broadway
West Broadway – 2711 W. Broadway
Keene Financial Center – 205 S. Keene St.
Smiley Lane – 1009 Smiley Ln.
Rock Bridge – 505 E. Nifong
Woodrail Centre – 1000 W. Nifong
Lake of the Woods – 5614 E. St. Charles Rd.
Hallsville – 105 Route B
Sturgeon – 117 N. Ogden St.
Centralia – 216 W. Railroad St.
Boonville Downtown – 416 E. Spring St.
Boonville West – 1920 Legends Ave.
Shelter Insurance Federal Credit Union Anti-Phishing Policy
WHAT IS PHISHING? In simple terms, phishing is online identity theft. Commonly, phishers send e-mail messages that appear to come from a trusted source, like a credit union, a bank, or a credit card company, and try to trick people into divulging their passwords, account numbers, or other confidential information. People fall prey to the schemes because they believe they are interacting with a company that they trust.
THE SHELTER INSURANCE FEDERAL CREDIT UNION has adopted the following email policy to combat such schemes. Our email transactions:
- will never ask members for account numbers or social security numbers
- will never include members account numbers unless authorized by member
- will never ask members to verify information via e-mail unless contact initiated by member
- will never include links to other sites
- will never include a form, or post a form which asks members to verify any information
It is the intent of the Shelter Insurance Federal Credit Union Board of Directors to have this policy distributed to the membership on a regular basis.