Quar terly Newsletter

Business Spotlight: ARP SolarIn this issue:

SPRING 2020

ARP Solar, a local provider of residential, commercial and agricultural solar installation and service, is doing their part to light up the world. As part of an ongoing project in Liberia, West Africa, the ARP Solar team travels to install solar for rural health clinics.

These clinics are often the first electricity in the community, offering the clinics lighting, a few receptacles and refrigeration to provide immunizations. This lighting allows for medical assistance during the night, including emergencies and childbirth, and the electricity offers a cold-chain to provide vaccinations to the most remote communities. In addition, they provide education scholarships and washable menstruation kits to keep girls in school.

Serving all of Ohio and the surrounding region, ARP Solar is ready to take on your next solar project for your home, business or farm. Installing solar can save on electricity costs and is an environmentally-friendly alternative to traditional fossil-fuel generated electricity.

• Business Spotlight• Committed to Our

Community• Pay Up P2P Payments• Upcoming Events• Annual Meeting Web

Conference• COVID-19 Resources and

Information• COVID-19 Financial Relief• Expanded Branch Hours• Financial Literacy Month

$100 Gift Card Giveaway• Harry B. Crewson

Scholarship Recipients• Ask the Expert• Online and Mobile

Banking Tools• Offers for Graduating

Students• Mortgage Rates are at

Record Lows

Find ARP Solar online!

Pictured: ARP Solar travels to Africa to install solar power for rural health clinics.

Facebook InstagramWebsite

Cory A. CorriganChief Executive OfficerOhio University Credit Union

Committed to Our Community for 65 Years

As OUCU reflects on the 65 years since our founding, we see a remarkable amount of growth and change. Over the years, our nation and our community faced times of uncertainty and upheaval. We emerged from those uncertain times stronger because when so much seemed unknown, we kept our focus on one thing: our commitment to serving our members.

Today, we face another set of challenging circumstances. But just like before, we hold strong to the mission our founder set forth many years ago of “people helping people.” That mission drives us to prudent financial management, which means that OUCU is financially strong and well-capitalized. We have what we need to take care of our members, staff, and community. You can rest assured that there is no safer place for your money than in your federally insured OUCU account.

Over the past weeks, we’ve made tough choices centered around protecting the health and well-being of our staff and members, guided by the advice of public health experts. The most notable of these changes included transitioning to drive-thru only banking. We are grateful for the cooperation and support our members have shown during this time.

We’re proud of our staff who are still here working for you. Our drive-thru, call center, and robust online tools have allowed our members to take care of their financial obligations while protecting their health. Members can open new accounts and apply for loans through our electronic service center. Our online chat option, available on our website and in online banking, makes it easy to get the help you need. And expanded hours at the Shafer Street office drive-thru on Saturdays from 9 a.m. to 1 p.m. means wait times are reduced on this busy banking day.

For many, the inconvenience created by the coronavirus goes beyond access to their accounts. We know this outbreak has caused a lot of financial hardship – OUCU is here to help. New assistance options include loan payment deferrals, skip-a-pay fee waivers, and emergency cash solutions for individual and business members. If you have been affected financially, please contact us to explore what OUCU can do for you.

As we all adapt to the changes brought about by social distancing, many of our public meetings have moved online. Our annual meeting is no different. For the first time in history, members are invited to attend virtually on April 15 at 5:30 p.m. We welcome your participation, please register here to receive instructions on how to join.

As always, please contact us if you have questions or concerns.

Our community is strong. Our credit union is strong. We’ll get through this together.

Ohio University Credit Union Annual Meeting

Web Conference

To comply with COVID-19 social distancing practices, the 2020

OUCU Annual Meeting has been changed to a video conference meeting on Wednesday, April

15th at 5:30 p.m.

REGISTER HERE

Instructions for accessing the video video conference will

be sent to those registered via email prior to the event. We

look forward to updating you on the past year and where we are

headed in the future!

Upcoming Events and Holiday Closings

OUCU Annual Meeting (Digital)Wednesday, April 15th register

Ohio Credit Union Foundation Video Scholarship DeadlineFriday, May 1st more

Holiday Closing – Memorial DayMonday, May 25th

OUCU Shred DayPostponed - New Date TBA

MEETING UPDATE!

Pay Up Person-to-Person Payments

As members look to online services for more of their financial needs, we’re glad to now offer offer a brand new person-to-person payment option, Pay Up.

Pay Up lets you use your debit card to quickly send a payment to anyone through online and mobile banking without the need for an external app!

The interface is very simple to use, so give it a try the next time you’re sending cash to friends and family!

Visit our Pay Up webpage for more information.

COVID-19 Resources and Information

At OUCU we’re committed to our community during this unprecedented time, working to keep our members, employees and friends in Southeast Ohio healthy physically and financially. As we all practice social distancing, we know our members rely on their financial institution to provide the services and support they need.

Click below for information on the many ways we’re working to provide the banking solutions you need alongside the financial support to keep our members financially healthy during this uncertain economic time.

UpdatedBranch Hours Financial Relief Tax Preparation

Business Services OUCU Blog

Financial Relief for Members Impacted by COVID-19

As we practice social distancing to help stop the spread of COVID-19, many in our community have been impacted financially and need relief. Credit unions like OUCU were founded on the idea of people helping people, and we have created a number of solutions for those struggling to make ends meet.

Contact us to discuss solutions such as:

• loan payment deferment• mortgage loan payment options• business loan payment options• Skip-a-Pay fee waivers• emergency cash needs

Expanded Branch Hours During Lobby Closure

In order to provide an additional options to members visiting branches during our lobby closures, we have opened our Shafer St. branch drive-thru on Saturday from 9 a.m. - 1 p.m.

We have also added a pedestrian lane for those on foot or on bike, along with extra signage for the safety of those members.

Thank you for your continued patience as we work to keep our members, employees and community safe during this time.

Enter to Win a $100 VISA Gift Card for Financial Literacy Month

We’re celebrating National Financial Literacy Month and the launch of our newest financial wellness tool, Banzai! We know that learning is its own reward, but this month we’re giving you an extra incentive: a chance to win a $100 Visa gift card.

Entering is easy. Just complete a course or virtual coaching session and save your session and you’re automatically entered. One entry per person. Enter between April 1st - April 30th.

Junior: Ages 8-12 Teen: Ages 13-18 Plus: Ages 16+

Vir tual Coaching Session

Be sure to save your session by selecting the icon at the bottom.

Congratulations to these three future Bobcats on receiving our Harry B. Crewson scholarships. Through hard work, they’ve earned $3,000 toward their education at Ohio University.

2020 Harry B. Crewson Scholarship Recipients

John KearnsAlexander High School

Major: Biological Science

Emma MeyersLogan High School

Major: Biological Science

Kelsey NelsonTrimble High SchoolMajor: Life Science

Send Us Your Questions!Email marketing@oucu.org with a financial question and we’ll provide an expert answer.

People all over the country are being impacted financially by COVID-19, with many experiencing a loss of income due to social distancing measures. What should you do under those circumstances? Here are 5 steps that will get you started on the path to financial security:

#1 - Assess Your Budget and Prioritize Your ExpensesTightening up your budget is the first step in stretching your finances. You will want to know as much as you can about your budget and expenses and where you might be able to make modifications. Identify and total up all income sources and assets such as savings that may be able to get you through until you can resume working or replace your income. Review your living expenses and eliminate the things you can live without. Reduce expenses in the “essentials” category as much as you can.

#2 - Explore Remote Working Options and Vacation/Sick Leave BenefitsIf you are able to maintain income, even if you can’t physically go work, there’s a financial upside. If you are able, propose a work-from-home solution or ask about remote working policies. If you have vacation time, paid time off, or paid sick leave, use those benefits to sustain your income during an interruption to your ability to work. Your employer or HR Department may have additional resources to explore as well.

#3 - Draw On Assets (with a Plan)You may need to spend savings or take on short-term debt. Create a plan for using those assets and refilling your coffers once you are able to replace income or resume working. Look to “liquid” assets first - cash, non-retirement investments, etc - with a plan to put that money back when you are able again. After liquid assets, consider credit options. OUCU currently offers a number of options for those impacted by COVID-19. After liquid assets and credit options, consider taking advantage of your retirement savings, wither with loans against those funds or cashing out your investment. Before doing so, consult with a tax and investment advisor, as this could involve tax considerations and early withdrawal penalties.

#4 - Talk to Your CreditorsIf you are worried about paying your debts, talk to your creditors and ask to make arrangements. OUCU currently offers a variety of options, including loan deferment or modification options. Contact us to discuss your options and find a solution that brings you some relief.

#5 - Contact a Financial CounselorA financial counselor can help you figure out a plan to get you back on your feet. OUCU partners with Greenpath Financial Wellness to offer financial counseling for free.

Ask the Expert

What should I do if I have experienced a loss or interruption of income?

Convenient Online and Mobile Banking Tools for Members

OUCU offers members a robust digital banking platform. As we practice social distancing, these tools can be incredibly convenient. Take advantage of these great services:

Mobile BankingAccess your OUCU online banking accounts from your smartphone with our mobile banking app, available in the App Store and Google Play Store.

Loan Applications in Online BankingApply for a loan right inside online banking! To apply, select the dropdown menu and choose “Loan Application” to get started. You can even sign your loan documents electronically!

Mobile Check DepositSnap a photo and deposit the check instantly in the OUCU mobile banking app. Once you log in, select the “check deposit” icon at the bottom of the screen.

Skip-a-PayPut more cash in your pocket and use Skip-a-Pay to skip your next payment on an OUCU installment loan. Select the dropdown menu in online or mobile banking and choose “Skip-A-Pay” to get started.

Mobile WalletsOUCU offers mobile wallet compatibility with Apple Pay, Google Pay, Samsung Pay and VISA Checkout.

Pay Up P2P PaymentsSend a quick person-to-person payment to anyone with an account at a U.S. financial institution with Pay Up. Select the dropdown menu and choose “Pay Up P2P” to get started.

All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only. Federally insured by NCUA.

Contact us: oucu.org

740.597.2800