INDEPENDENCE Financial Freedom the Credit Union Way

STAYING GROUNDED with Wings to Fly

TYPES OF CREDIT CARDS You Should Avoid

THE MAGAZINE FOR TODAYS CONSUMER

BACK–TO–SCHOOL CARS Making the Grade

2nd Edition

EARS

Brookings | De Smet | Huron | Redfieldwww.DakotalandCommunityInsurance.com | 800.257.7353

insuring your

SUMMER FUNjust got easier

Talk to us about a free quote on your auto and rec insurance today

Talk to us about a free quote on your auto and rec insurance today

“Shop Local”– This popular slogan is often quoted by main street retailers and businesses. Of course it is said with the intent to increase sales and improve commerce. You might ask, ‘So what’s the benefit to me to shop local’? Have you ever thought about the value you bring to your community by shopping local? By shopping local you increase sales at that business, which allows them to hire additional employees, which could possibly be you, your family, a friend or a neighbor. Also, most of the dollars you spend will recirculate in your community through other businesses. By shopping local you help create an economic boost to the local economy creating more jobs, a higher demand for all goods and services, increased wages and home values. On the flip side, have you ever wondered what would happen to your community and surrounding area if everyone bought their goods and services from outside our state? We would no longer have a need to recruit people to our community because a significant number of jobs would be lost as local businesses would be forced to close and go out of business. There would be less need for housing and home values would drop. Unemployment would skyrocket as fewer employees would be needed. Long term this would create a spiral of doom for the local economy and the communities we call home.Shopping local also includes your financing. When you buy a new car or home, the loan or financing should be done locally. Using a local financial institution creates more jobs and overall improves the health of our community. Generally, you receive better service from a local financial institution as they have a vested interest in your success and their community. At Dakotaland, you can contact us directly with any concern or issue. We pride ourselves on providing excellent service and staying true to our mission, which is to serve our members as they are the reason for our existence. We understand local businesses have to earn your business. They have to be reasonably priced, convenient and carry the goods and services you desire. If a local business makes the effort to meet your expectations, it is in the best interest of our local economy to give them a chance to earn your business. Shop Local. Buy Local. Finance Local. After all, you and your community will benefit in the long term.

Independence | 1

In theLoop

CREDITS & CONTACTSDakotaland Federal Credit Union | 1371 Dakota Avenue S. | Huron, SD 57350 | 800.440.6573

PUBLISHER/EDITOR: Dawn Mutchelknaus | dawnm@dakotalandfcu.com • DESIGN/LAYOUT: Emily Kuehl | emilyk@dakotalandfcu.comPRINTING: Brad McGirr/Creative Printing | brad@creativeprinting.com • ONLINE: www.DakotalandFCU.com | Facebook.com/DakotalandFCU

DAN CUMBEE President | CEO

*annual percentage rate

Credit Life and Disability Insurance

A CREDIT UNION FAMILY’S

2 | Independence

true story BACK–TO–SCHOOL

CARSIt is always difficult to understand why bad things happen to good people. The Weinreis family is much like any other family. They work hard, they play hard and they take care of each other, but they have also seen their fair share of heartbreak. Their story is just one of many who quickly realized how misfortune can change the course of ones’ life and how one small decision can give comfort in a very difficult time.Thirty–three years ago, Bill Weinreis, and his wife Candy, opened their first account with Dakotaland Federal Credit Union. Bill had graduated from high school and had started his first job at Dakota Pork in Huron, SD. In addition, they had become new parents to their first born child, Derek. In 1987, Bill transferred to North Carolina and even though he moved his family, Mr. Weinreis maintained his membership and ties to his local credit union ‘back home in South Dakota’.As time passed, the Weinreis Family grew to six with the addition of two daughters and a son; Lavin, Drew and Jessalyn. Missing home and wanting to be closer to family, the time had come to move back to Huron. Bill returned to work at Dakota Pork and Candy began working in the medical field. Dakotaland Federal Credit Union had always been a steadfast part of the Weinreis’ life. Bill and Candy purchased their first car with the help of the credit union and also bought their first home through Dakotaland. Keeping the family tradition, all four of the Weinreis children became members of the credit union and opened their first accounts as well. In 1997, the news of a plant closing left Bill unemployed and very concerned for his family’s future.“When Dakota Pork closed, I lost my job along with hundreds of others. If it wasn’t for the help of Dakotaland, my

family and I would have lost everything we had worked for,” explained Weinreis. Regardless the need or the hardship, Bill and Candy felt they were able to rely on their Credit Union to help them get through it. In 1999, the worst news a parent can expect was delivered to the Weinreis home. Bill and Candy endured the tragic loss of their 16 year old son, Derek, in a car accident. It was at that moment the family fully understood the importance of having insurance. From that point on, when Bill and Candy secured a loan at the credit union and were asked if disability and life insurance coverage should be added, there was no hesitation. The answer was, yes!

Fast forward to the summer of 2014. Candy became unable to work due to health issues. A once two income household was now downsized to one, which was a major adjustment for all. In addition, there were growing medical expenses and many trips to Sioux Falls for treatment. As the financial pressure continued to build, Bill once again went to his credit union. He visited with his loan officer regarding Candy’s health issues and the strain it was putting on the family. Much to Bill’s relief, it was explained the disability insurance they...Continued on page 8

true story

Independence | 3

RELIABILITY & SAFETY — Parents and students usually have very different options as to what type of car they should buy. In addition, agreeing on a budget for the purchase tends to be a challenge. The good news is everyone can agree a car that can be trusted to get from point A to point B as safely as possible is a must. This means it is mechani-cally sound and requires minimal maintenance. Cars with good tires and airbags tend to be a class favorite. Plus, front wheel drive or 4–wheel drive for inclement weather are high on the shopping list. Autos with features like these most likely top the roster.AFFORDABILITY — Cost is a major component of the back–to–school car shopping excursion. Typically the larger the number of options and latest technology; the higher the asking price. Also, how long you intend to own the vehicle will greatly impact just how much you decide to invest in the purchase. Cars which fall into your budget, while giving you the best value for the money, will quickly rise to the top. Those priced at a point which allows you to comfortably make the payment while attending classes also get an A+.FUEL ECONOMY — Depending upon the number of miles driven from home to school, the cost of poor gas mileage can add up in a big hurry. Theoretically, a car which gets 24 miles to the gallon versus one that gets 12 will cut your fuel bill in half. It makes perfect sense why cars with the best fuel economy make a viable candidate for your next back–to–school car.SIZE & SPACE — The size of a vehicle is commonly overlooked as a back–to–school prerequisite. School parking lots are many times over populated or have assigned parking spots, which you pay a fee to use. In this case a compact car wins the contest every time. In addition to size, we have the contradictory issue of space. As a student, passenger and cargo space may be a high priority, especially if you carpool or are in-volved in a school activity that requires the transport of equipment, such as sports or band. A more spacious vehicle or one with efficient use of space can easy become the hometown favorite.COST OF INSURANCE — The same insurance coverage on two different types of ve-hicles can vary by hundreds of dollars. Cost of insurance can be affected by a number of variables such as the value of the car, the size of the engine, the safety rating on the vehicle, or who is designated as the primary driver. It is well worth the time to consult with your local insurance agent before writing the check. A lower cost of insurability can put a back–to–school car back on the honor roll.

1.

4.

2.3.

5.

BACK–TO–SCHOOL

5 reasons why cars make it to the top of the back–to–school list

MAKING THE GRADECARS

www.DakotalandFCU.com 800.440.6573

Financing up to $5,000 of your Summer Fun

The following checklist is a valuable tool for how the process works and when best to complete certain steps. CHOOSE YOUR SCHOOLIn most cases, when referring to “school”, it includes a 2–year or 4–year public or private college or university, technical school, vocational school, career school or graduate school. Other than offering a quality education in your specific program, it is also important to know if your school offers financial aid assistance and participates in the federal student aid program. DETERMINE HOW MUCH YOUR TOTAL EDUCATION EXPENSE WILL BE Not just the first year, but for the duration of your degree. Remember, college costs are not just tuition, room and board. There are books, school supplies, equipment and fees which might include, activity fees, parking fees, lab fees, a laptop, printer, etc. Get the full financial picture before moving on. COLLECT THE DOCUMENTS YOU WILL NEED TO APPLY With help from a school counselor or financial aid officer, collect the documents you will need to apply for financial aid through the Free Application for Federal Student Aid (FAFSA). You can find a full list of the documents and information you need at www.FAFSA.gov. COMPLETE THE FAFSA APPLICATION as soon as possible after January 1st of the year you plan on attending school. Most school and state student aid is based on the data from the FAFSA. Such aid is often provided on a first–come first–served basis. Hence, the sooner you complete the application on or after January 1st the better. REVIEW YOUR AWARD LETTERYour school will utilize the information on your FAFSA application to put together an award package for you before classes start. This package will arrive in the form of an Award Letter. It will include federal student loans, grants and work–study you can receive, as well as state aid from your school and other sources to help pay your costs. DECIDE WHAT AID YOU WILL USEStart by accepting the grants and scholarships as these options do not require repayment. Next review the loans and accept those with the most favorable terms. At this point, it will become evident if additional funding is needed to cover your school expenses. Continued on page 10

#CollegeBoundYour Checklist to Covering the Costs

JENNIFER PESKEY VP of Consumer Lending | Huron

Great News Reality Check Start NowYou, or your child,

have plans to attend college

Getting a head start on securing the funds you

need, will pay off

4 | Independence

Paying for a postsecondary education is an investment. It requires planning

and takes money

Independence | 3

www.DakotalandFCU.com 800.440.6573

*Annual Percentage Rate | Some Restrictions Apply | Approval Based on Qualifications

Financing up to $5,000 of your Summer Fun

JULY4.9%

apr*loan ratesas low as

CHRISTMAS in

Your Checklist to Covering the Costs

STAYING GROUNDEDWith Wings To Fly

found a job as a commercial, private or charter pilot. Maybe even went into the military, but my heart is here in South Dakota helping farmers get the most they can for the work they do”, declared Wilde. Isaac graduated in 2015 from South Dakota State University with a bachelor’s degree in Aviation and minor in Business. In fulfillment of the requirements of his degree, Wilde logged the necessary flight miles, but didn’t stop there. He spent time as a spray plane pilot working for different aerial application services around the area covering more than 100,000 acres. In the off season, Isaac accepted a position as a bush pilot based out of Bethel, Alaska delivering to the most remote areas in some very interesting weather conditions. “In locations without roads and access only by sled, boat or plane, I delivered everything from people to mail to supplies of all kinds. One of my most interesting cargos was transporting a load of sled dogs”, explained Isaac. In addition to his already growing resume, Wilde obtained his pesticide license and also took some time to pass his love of flight on to students at Lake Area Technical Institute in Watertown working as a flight instructor. In 2016, Isaac stopped by his local credit union branch in Volga and visited with Dakotaland Manager, Gene Bjorklund, about his dream of opening an aerial spray service.

Photo Credit – Courtesy of South Dakota State University

6 | Independence

When you meet Isaac Wilde, within the first few minutes, two facts are evident. He is proud to call South Dakota his home and he is one of the most motivated and driven young men you will come across. This Lake Preston native has rallied in a profession dominated by those 20–30 years his senior to become one of the youngest agricultural pilots in the area. If that isn’t enough, at the ripe old age of 24, Isaac has realized his dream of being the owner/operator of a spray application business with the recent opening of Wilde Air Service located at the Brookings Airport. Wilde’s startup venture is fueled by his collection of valuable education and experience, as well as his desire to serve the many local farm families that make up the ag community he grew up in. “I could have taken my degree and flight experience and

Independence | 7

significant amount of business come through referrals from his list of satisfied and repeat customers ranging from as far west as Iroquois, SD and as far east as Tracy, MN. As Isaac reflects on his early achievements, he gives plenty of credit to his parents, Jim and Monica Wilde of Lake Preston for their positive influence and to his wife, Mandy for her unwavering support of his ‘wilde idea’.When asked about the future plans for his new business, Wilde hopes to eventually upgrade his plane from a piston to turbo prop and build a hanger to house his investment. Long term, Isaac would love to see his startup turn into a family operated business and possibly be Wilde & Sons (or daughter) someday. For now, Wilde just wants to take care of his customers, build his client base and FLY!

Photo Credit – Courtesy of South Dakota State University

“I knew I was young and what was required to start the business was going to be fairly significant, but all I needed to hear was Gene to say he thought it was a possibility and I was on my way to making it happen,” said Wilde. Shortly after, Isaac located a plane in Nebraska, which quickly set his plan into motion.As the owner of his own air service, Wilde truly understands the meaning of ‘jack of all trades’. He arrives at the airport very early in the morning to finalize his maps, mix and load sprays and prep his plane for flight by first light. Isaac does not seem to mind the long days and he knows his commitment to his customers is what it’s all about. Many of Wilde Air Service customers come from partnering with third party co–ops in the local area. He also sees a

Dakotaland Federal Credit Union Approves Plans for

8 | Independence

membership on a daily basis. The first floor will feature a convenient teller area with drive up access. The remainder of the first floor will be specifically designed with rental space in mind. The location, easy access and attractive store fronts will make the facility a very viable prospect for office space or retail business. The rental space will total approximately 10,000 sq. ft., but can be sized to fit and reserved prior to completion.The land purchase for this building project was made earlier this year and a ground breaking is anticipated in August. Credit union staff are anticipating a fall move in date in 2018. Dakotaland intends to maintain its two existing branches in Huron and operations will continue as normal. In addition, Dakotaland Community Insurance and Dakotaland Financial Services will remain at the 1371 Dakota Avenue location.

ADMINISTRATIVE FACILITY

At Dakotaland Federal Credit Union’s 82nd Annual Meeting, Credit Union President, Dan Cumbee, of-ficially announced plans for a new administrative facility to be built along State Highway 37 in the Randall Plaza Lot located in the development south of Coborn’s in Huron, SD. “The new site is not only intended to accommodate the overcrowding we are currently experiencing in our main office, but also to prepare for anticipated growth for the credit union and the Huron community over the next 10 to 20 years”, explained Cumbee. The 30,000 sq. ft., two–story, adaptable facility will be constructed with two primary purposes. The second floor will house those credit union staff members which are considered administrative or back office employees. This will free space at the main office on the corner of 14th and Dakota to accommodate the growing number of employees whom serve the

New

Continued from page 2 had taken out on their loans would make the payments while she was unable to work. The good news is the disability insurance made regular payments on those loans and the possessions they were anticipating would need to be sold, they were now able to keep. The bad news is Candy never regained her health and was unable to return to work. On March 26th 2016, Candy passed away unexpectedly at the age of 51. Her passing left a hole in the hearts of those who knew her and a larger hole in the Weinreis Family.

Independence: Julie, what types of recreational vehicles are you most often asked to quote insurance coverage for? Julie: The types of recreational vehicles available and their price tags have significantly grown over the years, but the most frequently requested quotes are for campers, boats, ATV’s (such as 4–wheelers and side by sides), golf carts, motorcycles/scooters and snowmobiles. Insurance carriers have expanded coverage to include an extensive list of insurable “big boy toys”.Independence: How does someone know if their recreational vehicle requires insurance coverage?Julie: That question can be answered by asking a few additional questions. First, do you have a loan on your recreational vehicle? If so, your financial institution will require it to be insured. Secondly, if your recreational vehicle is in an accident and sustains damage, will you need insurance to help cover the cost of the repairs? Lastly, is your recreational vehicle licensed for road use? If so, what insurance coverage does the state require?Independence: If a recreational vehicle is being towed or is on a trailer, does the auto policy extend to provide coverage to what is being towed? Julie: Only liability coverage is extended from the towing vehicle. Liability coverage covers bodily injuries and/or damages to third parties and their property only. To receive physical damage coverage on your recreational vehicle and trailer, they would need to be covered under another policy.Independence: If a recreational vehicle is for home or farm use only, are there other policy options?Julie: Yes. A recreational vehicle such as 4-wheeler for example, can be added to a home or farm policy, but it can only be used on premise. If it is used off premise, a specialty policy may be needed.Independence: If a recreational vehicle is in storage for part of the year, should the insurance be dropped when it is not in use?Julie: No. It is important to maintain coverage. Building insurance covers the structure and the personal content. However, personal content excludes motorized vehicles. Therefore, if the building where your recreational vehicle is stored burns down, your property would not be protected.

Independence | 9

Once again, Bill received news from the credit union. This time it was to let him know the life insurance policy he and Candy had taken out on the vehicle loans would pay the debt in full putting any concerns he may have had to rest. “No one is ever truly prepared for an unexpected loss, but I know if it wasn’t for Dakotaland and the services they offer, the impact on me and my family would have been overwhelming to say the least”, added Bill.

INTERVIEW WITH JULIE GRANSTROM Manager, Dakotaland Community Insurance | Huron, South Dakota

Protecting Your Big Boy ToysCARRY INSURANCE

PLAY HARD&

10 | Independence

• Start early — Waiting until your child graduates from high school, may be too late.• Apply for financial aid, even if you think you may not be eligible. Every student, who meets some basic eligibility requirements, can get some type of financial aid regardless of age or family income.• Every awards package is individually tailored to you and your school. If you change schools the package is likely to change as well.• Federal student loans have to be paid back after you graduate, leave school or stop attending at least half–time.• Borrow only what you need and what you will pay back. If you don’t need all the money you applied for, you can cancel all or part of your loan before it is disbursed.

Hints & Tips

Eligibilityfor Federal Student Loans

• Be a US citizen with a valid Social Security number• Be working toward a degree• Have a high school diploma or GED• Register with the Selective Service• Maintain satisfactory academic progress once in school

You rely on us for affordable home and auto loans. Let us help with your student loans too.• Our process is easy and fast and can be completed at your convenience on–line.• Our loans are available anytime regardless of the time of year, which year of school you are financing, for undergraduate or graduate degrees or whether you are a traditional or non–traditional student.• Our loans are not restricted. They can be used to cover any qualified school expense, such as tuition, room, board, books, computers, tools, equipment, etc.• Our loans give you a choice of competitive fixed or variable rate options.• Our loans have an affordable payment plan while in school. You can choose between a monthly interest payment or a monthly payment of $25.• Our loans have an interest rate reduction for the use of automatic payments.• Our loan services provide for loan consolidation.• Our loan staff is here to answer questions and help you through the process.

Be in the KnowBefore You Accept Any Loans

• Know the total loan amount you are accepting• Know if there are any loan fees included• Know when and how you will receive the monies• Know the interest rate and when it will start accruing• Know when you will be required to begin repaying the loan• Know the amount you will repay each month• Know how long it will take to repay the entire loan amount• Know if you can consolidate the loan and when

How Your Credit UnionCan Help

for College

Credits: US Dept. of Education/Federal Student Aid Information Center

Continued from page 4

It’s a Winner! You will enjoy the best of all options when you choose a VISA Credit Card

from Dakotaland Federal Credit Union

INTEREST RATES as low as

9.9–17.9% apr*well below the national

average and tiered based on credit history

VariousLimit

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SCORECARD REWARDS Earn bonus points for every

net dollar spent on purchases and redeem bonus points for travel, merchandise, car rentals, hotels

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CONSOLIDATE credit cards or

TRANSFER your balance from any high rate interest

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Credit CardsCredit cards with high fees that are charged even if you never make a purchase. Watch out for credit cards with fees such as account set–up fees, program fees, participation fees, fees for additional cards and fees for credit limit increases. Paying just to have a credit card is a fee you should think twice about paying. Credit cards that do not report your payment status to credit bureaus. If you are working to build or re–build your credit history, a credit card that does not report to the major credit bureaus won’t be any good to you. Since the payment history for that card won’t appear on your credit report or in your credit score calculation, your positive payments would not help you build a positive credit history.Credit cards with high interest rates will do you no favors. A credit card interest rate is the price you pay for borrowing money. For credit cards the interest rate is generally stated as annual percentage rate (or APR). Obviously the higher the APR the more it costs you to carry a balance on that card. In perspective, 25% APR could be considered an average high interest rate, while 11% could be viewed as more of an average low interest rate. Credit cards without a grace period. The grace period is the gap between when your billing cycle closes and when the bill comes due and interest begins to accrue. Even if you pay off your credit card in full each month, you can still use the grace period to stretch the time you have to pay for purchases without incurring interest.Credit cards with “introductory offers”. There are many attractive offers out there, such as zero percent interest to entice you to apply for a credit card or to transfer a balance from one card to another. You may not want to avoid these offers, but it would be best if you proceed with caution. Introductory means the offer is only good for a period of time. The question you need to ask is what happens to my interest rate after the introductory period ends. Credit cards without rewards programs. If you are planning to use a credit card, why not use one that rewards you for your patronage. Redeemable shopping points, cash back, air flight miles, travel perks, etc. are all common rewards programs available on the market. Depending upon what is most important to you could sway you toward one card over another. Also good to know is how are my rewards earned and tracked, how are my rewards redeemed and do my rewards expire.

TYPES OF

YOU SHOULD AVOID

25–day INTEREST FREE

grace period on new purchases

Independence | 11*annual percentage rate

130 YEARS of ANNIVERSARIESFour members of Dakotaland Federal Credit Union’s management team and one from Dakotaland Community Insurance observe milestone employment anniversaries in 2017. Dan Cumbee, Trisha Robison and Pat Murtha each celebrate 30–years, while Bryan Smith and Julie Granstrom reached the 20–year mark. Their collective years of service total 130 years dedicated to Dakotaland’s success.Dan Cumbee is based out of the main office in Huron and has been President of the Credit Union since 1987. Trisha Robison, formerly of Huron, works in Collections and is stationed out of her home in Illinois. Pat Murtha is the Branch Manager at Dakotaland’s Mitchell location, formerly known as Mitchell Area Federal Credit Union. Bryan Smith is the VP of Lending at the main office in Huron and joined the staff in 1997. Julie Granstrom is the Manager of Dakotaland Community Insurance at the Huron location and previously dedicated a portion of her career to Vic Gross Insurance.Dakotaland Federal Credit Union has locations in Huron, Volga, Brookings, Madison, Redfield, DeSmet, Mitchell and Woonsocket with the newest location opening in 2017 in Watertown. With 32,000 members and $310 million in assets, Dakotaland continues to be locally owned and operated offering a full–line of financial services to its membership since 1935.

UPCOMING EVENTS

Watertown, SD will soon be the home to a full service Dakotaland Federal Credit Union branch location. The building site is located at 1101 9th Ave SE., also known as the old Goodyear Tire location. Demolition and removal of the existing facility is expected to be completed by late July. A ground breaking ceremony and construction efforts lead by general contractor, Mills Construction will immediately follow the clearing of the property. An early 2018 opening date is anticipated.

AUGUST 1 | Sno Kones at National Night Out 5PM — 7PM Campbell Park | Huron

SEPTEMBER 1 – 3 | Dakota Star Competition Prelims 6PM SD State Fairgrounds | Huron 4 | CLOSED In observance of Labor Day 4 | Dakota Star Competition Finals 5PM SD State Fairgrounds | Huron11 – 15 | Miracle Jeans Week All branch locations

OCTOBER 9 | CLOSED In observance of Columbus Day 19 | International Credit Union Day Refreshments at all branches26 – 27 | Halloween Bake Sale Huron Main Branch

Artists conceptual rendering. ©2017 Mills Construction, Inc | Brookings,SD

Coming Soon!DAN CUMBEE 30 Years of Service

TRISHA ROBISON 30 Years of Service

PAT MURTHA 30 Years of Service

BRYAN SMITH 20 Years of Service

JULIE GRANSTROM 20 Years of Service

12 | Independence

FINANCIAL SERVICESLLC

1371 Dakota Avenue South, Suite 100| Huron, SD 57350www.DakotalandFS.com | info@dakotalandfs.com | 605.353.8777Dakotaland Financial Services, LLC. is a separate entity from Dakotaland Federal Credit Union.

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INDEPENDENCE Financial Freedom the Credit Union Way

1371 Dakota Avenue South Huron, SD 57350

THE MAGAZINE FOR TODAYS CONSUMER

Talk To Us About Your Home Purchase or Refinance Plans Today

we are all

EARSHeard home loan rates are

still at all–time lows

Our local servicing keeps you and your mortgage close to home