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A letter from your
credit union’s President/CEO
Dear OSU Federal members:
Let’s talk about the value of your credit union
to you and the future of credit unions.
Recent research performed by national entities
has analyzed the direct savings and benefits of
credit union membership across the country,
regionally and now even by individual credit
union. The Credit Union National Association
(CUNA) estimates that OSU Federal provided
$3.46 million in direct financial benefits to its
73,000-plus members during calendar year
2012. That breaks down to saving you, on
average, the equivalent of $48 per individual
or $92 per household annually. Those numbers
increase 230% to $213 per household for
members who use us as their primary
financial institution.
The Federal Credit Union Act of 1934 created a
cooperative system to successfully balance our
nation’s credit structure. For the last 79 years
credit unions have been that competitive
balance allowing people of all means,
especially those of small means, to have access
to fair and affordable financial services. During
the recent economic downturn, many
commercial banks turned away from
consumers and small business, and the credit
union alternative was the answer for many in
these challenging times.
As not-for-profits owned by their members,
credit unions return earnings to their
members in the form of fair rates on loans
and savings and more affordable services.
In fact, if credit unions were taxed, for every
$1 in new taxes on credit unions, the
government would wipe out $10 worth of
better rates and lower fees for credit union
members and consumers. And, make no
mistake, we do pay our share of taxes.
OSU Federal paid more than $1.16 million
in property and payroll taxes locally and
in the state of Oregon last year.
Commercial bank customers have benefited
just by our existence in the marketplace. Why?
Competition. Without competition,
consumers will pay more for the products
and services they are accustomed to
receiving. That point has been driven home
in countries like Canada and Australia that
began taxing credit unions several years ago.
The results show that the number of credit
unions has been severely reduced and with
reduced competition, consumers are paying
higher interest rates on loans and earned
lower interest on deposits in both countries.
I’ve cited numbers and facts above, but what
this is all about for us is the opportunity to be
that difference for the future dreams of our
members: For the fledgling small business
that could grow into a long-term community
continued on page 2
Richard S. Hein, President/CEO, OSU Federal Credit Union
osufederal.com
fall edition
2013
A letter from your credit union’s president/CEO
asset. For that youth who we counsel
toward sound money management through
our products and services as well as
financial education. For that family that we
save still more precious dollars in their tight
monthly budget by restructuring their
current loans from elsewhere. And for our
entire membership, through staff with the
tools and expertise to help.
and a link to the “Don’t tax my credit union!”
national website. This past June, the Senate
Finance Committee’s “tax options” paper on
Tax-Exempt Organizations and Charitable
Giving was released. The report clearly
suggests that Congress consider among their
many options to “disallow tax-exempt status
for certain organizations engaged in business
activities, such as credit unions …”
The income tax exemption status of credit
unions is paramount to our ability to
provide you unsurpassed service and to
continue to invest in your communities —
keeping those additional dollars in your
pocket.
This is not a business-savvy option when you
look at the overall ramifications to 96 million
credit union members across the country.
Now more than ever, it is critical for
OSU Federal members and all credit union
members to send a clear message to Congress
to uphold the current tax exemption.
For several months now, our website has
included information on what our tax
exemption does for you and all consumers
... continued from page 1
That’s why I am asking you to take action
in sending a strong message to Congress.
It’s easy to take action: just visit
www.DontTaxMyCreditUnion.org to
contact your U.S. Representatives and Senators.
It is an honor and a privilege to be a
community credit union serving you, the
member-owners of OSU Federal.
Thank you for your continued loyalty and
membership in OSU Federal, Your Community
Credit Union!
Sincerely,
Richard S. Hein
President/CEO
OSU Federal: involved, invested, giving to community
Heartfelt loyalty and commitment to community add up to a greater good, and last year was no exception. OSU Federal, Your Community Credit
Union, partnered with and helped many neighbors to fulfill all kinds of needs. Here are highlights about how OSU Federal was involved and
invested locally with time and dollars in 2012.
Community
$25,000
An important contribution was
raised for the Children’s Miracle Network
and donated to Doernbecher &
Sacred Heart Children’s Hospitals.
126
OSU Federal contributed over $130,000
to more than 126 local schools and
not-for-profit organizations.
87%
OSU Federal volunteered over 9,650 hours toward
more than 225 organizations to establish a new
standard for community volunteerism. Of those hours,
13% were performed as an investment of credit union
time, while the remaining 87% of the hours were
dedicated by staff on their own time.
2
Education
$12,500
Donated $12,500 that funded
44 local school projects benefiting
6,576 students throughout
our five-county region.
$15,000
OSU Federal awarded fifteen $1,000
scholarships for college to local high
school seniors. Students live in Benton,
Lincoln, Linn, Marion and
Polk counties.
13,689
$20,000
OSU Federal taught a
record 13,689 individuals in
529 financial workshops in 2012.
Amount awarded in
scholarships to local
college students.
Sustainability
10,000
Two community shred events helped
recycle more than 10,000 pounds of
paper, conserving 76 trees, 35,000 gallons
of water and 20,959 kilowatt hours
of energy.
E
“E” isn’t a number, but we liked the
way it “added up” last year when, by
sending estatements to our members,
we eliminated more than 590,000
double-sided pages of paper and
the associated mailing costs.
3
- CO2
OSU Federal, a Pacific Power Blue Sky partner,
used only renewable energy generated by
wind and bio-fuel to eliminate the release of
497,418 pounds of carbon dioxide (equal
to planting 5,847 trees or
NOT driving a car 504,049 miles).
Seminars from OSU Federal Investment Services
and CFS*
Our CUSO Financial Services, L.P.
(“CFS”)* Financial Advisors can provide
access to a wide range of investment and
insurance options such as mutual funds,
stocks, bonds, annuities and tax-advantaged
investments. Selection is important, but
managing your investments through
challenging times is our focus. They can help
you create a strategy, review performance
and adjust as needed, or you can take an
actively managed “do-it-yourself” approach.
Let our CFS Financial Advisors help you with
your retirement plan rollover, PERS retirement
planning and IRAs. Plus, wealth preservation
and estate planning, insurance and more.
Seminars fill fast — be sure to RSVP at
541-714-4296 or through the investments
seminar tab at osufederal.com.
Long Term Care Insurance —
Making the Right Choices
October 24
5:30-6:30 p.m.
Newport Branch
1923 North Coast Highway, Newport
PERS — A Piece of the Retirement
Puzzle (Tier 1 and 2)
September 24
5:30-7 p.m.
Robert’s Crossing (dinner provided)
3635 River Road, Salem
A Woman’s Road to a Sound
Financial Future
September 26
5:30-6:30 p.m.
Financial Center Branch — Board Room
1980 Northwest 9th Street, Corvallis
October 17
5:30-7 p.m.
del Alma Restaurant (dinner provided)
136 Southwest Washington Avenue, #102,
Corvallis
November 14
6-7 p.m.
Ray’s Food Place — Community Room
621 Northwest Hickory Avenue, Albany
Basic Investment Principles
September 10
5:30-6:30 p.m.
Financial Center Branch — Board Room
1980 Northwest 9th Street, Corvallis
* Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through
CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment
Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
ALL BRANCHES
800-732-0173
Mailing address
PO Box 306, Corvallis, OR
97339-0306
Phone Access Teller
(PAT)
541-714-4040 or
800-541-1348
osufederal.com
ALBANY
1394 Clay Street SE*
DALLAS
210 Orchard Drive*
621 NW Hickory Street*
(inside Ray’s)
KEIZER
4990 River Road North*
(inside Safeway)
NEWPORT
1923 North Coast Highway*
LEBANON
3330 Cooperative Way*
PHILOMATH
1446 Main Street*
CORVALLIS
1980 NW 9th Street
148 NW 25th Street*
MONMOUTH
464 South Pacific
Highway*
SALEM (WEST)
510 Wallace Road*
* Investment services available by appointment.
4
WOODBURN
1550 North Pacific
Highway*
(inside Safeway)
The articles in this publication are for general information only and are not
intended to provide specific advice or recommendations for any individual.
We suggest that you consult your attorney, accountant or financial tax advisor
with regard to your individual situation. Websites not belonging to this
organization are provided for information only. No endorsement is implied.
Images may be from one or more of these sources: ©Thinkstock, ©iStock,
©Fotolia. Entire publication ©OSU Federal 2013. All rights reserved.
Pay for college the smart way
As more members and their families pursue their dreams of higher
education, many are looking for ways to fund the gap between
financial aid and college expenses.
• Rewards for on-time payments and automatic payment plans.
• A pplying with a creditworthy co-signer may help applicants qualify
and receive a lower rate.
OSU Federal has partnered with Sallie Mae®
The Smart Option Student Loan® is designed so that students and
families can choose from three in-school repayment options to help
pay off the loan faster and save money compared to a conventional
private loan. With competitive interest rates, flexible repayment
options and a choice of variable or fixed interest rates, the Smart
Option Student Loan is the responsible choice.
• Fast online application.
• No prepayment penalty.
• No application or disbursement fees.
Go to osufederal.com
Visit the student loans section of osufederal.com. Find resources
for navigating the college application process, learn more about the
Smart Option Student Loan, and apply for a loan. Investing in higher
education continues to be one of the best decisions you can make!1
The Smart Option Student Loan is a smart choice:
• Low variable interest rates and competitive fixed interest rates are
both available, providing more choice and flexibility.
1
• Borrow up to 100% of school-certified education costs
(minimum $1,000).
5
OSU Federal is compensated for the referral of Smart Option Student Loan customers.
INSIDE
A LETTER FROM YOUR CREDIT UNION’S
PRESIDENT/CEO
page 1
OSU FEDERAL: INVOLVED, INVESTED,
GIVING TO COMMUNIT Y
page 2
SEMINARS FROM OSU FEDERAL INVESTMENT
SERVICES AND CFS
page 4
PAY FOR COLLEGE THE SMART WAY
“Don’t tax my credit
union!”
Help preserve your credit union benefits, including
money and financial choices, by letting Congress know
you don’t want your credit union taxed and that
current tax laws should be upheld.
Go to www.DontTaxMyCreditUnion.org for more
about this important topic. Easy-to-use tools will help
you make your voice heard, plus see a video and
review recent information showing how credit unions
work for you and benefit our economy.
Be sure to see the front of this newsletter for more
about this topic, and thanks for being an informed,
proactive member-owner.
Time for your annual
insurance checkup
As situations in your life change, so do your auto and homeowners
insurance needs, potentially affecting the cost of your insurance.
Be in control of your finances by staying informed about your
current auto and homeowners rates, whether you’re insured through
OSU Federal or somewhere else. OSU Federal recommends that you
review your auto and homeowners insurance needs each year and
obtain competitive quotes from different insurance companies.
Don’t take your insurer’s word for it — be informed.
page 5
PO Box 306
Corvallis, OR 97339-0306

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