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Conference 7.286::dcu

Title:	DCU
Notice:	1996 BoD Election results in 1004
Moderator:	CPEEDY::BRADLEY

Created:	Sat Feb 07 1987
Last Modified:	Fri Jun 06 1997
Last Successful Update:	Fri Jun 06 1997
Number of topics:	1041
Total number of notes:	18759

415.0. "DCU POSTING: DCU PRODUCT UPDATE." by BEIRUT::SUNNAA () Tue Jan 07 1992 09:31

Author:	DCU                           
Date:	06-Jan-1992
Posted-date: 06-Jan-1992
Subject: #2 Nom Comm/Products/Special Meeting                                    


                   DIGITAL EMPLOYEES' FEDERAL CREDIT UNION
                                PRODUCT UPDATE
        
        
        In our continuing efforts to offer convenient and competitive 
        financial services to our members, DCU has made a number of 
        improvements to its products and services.  During November 
        and December, DCU streamlined its consumer loan application 
        process and introduced a wider range of Certificates of 
        Deposit.
        
        Also, changes were made to our Money Market Accounts (RSVP) 
        and ATM program. Members now have easier access to their funds 
        and fewer account restrictions. 
        
        Below is a detailed summary of the most recent changes that 
        have been made to benefit our members: 
        
        
        
        INVESTMENT PRODUCTS:
        
        Checking Account/ATM
        - Members no longer need a checking account to open a Personal 
          ADVANTAGE Credit Line or a Home Equity Line of Credit.
        
        - Members are no longer required to get a new ATM card when 
          closing a checking account.  The current ATM card will allow 
          access to the savings account.
        
        - Personal Identification Numbers will no longer be changed 
          when a member reports a lost/stolen ATM card unless 
          requested by the member or in cases of fraud.
        
        - The $5.00 ATM replacement card fee is waived for a 
          replacement of a stolen ATM card.
        
        - The $5.00 ATM replacement card fee is waived if the member 
          did not receive their ATM card and had notified us within 6 
          months.
        
        - Members no longer need a checking account, Personal 
          ADVANTAGE Credit Line, or Home Equity Line of Credit to 
          receive an ATM card.
        
        - Members who have a "savings only" ATM card will receive a 
          monthly statement. 
        
        
        Regular Savings Account
        - When closing their account, members no longer have to wait 
          to receive their $5.00 membership fee.  If the member has no 
          active accounts, the transaction can be done in a branch.
        
        
        Money Market Account (RSVP)
        - Members may open multiple Money Market Accounts.
        
        - There is no longer a 1 year waiting period to re-open a 
          Money Market Account.
        
        
        Certificates of Deposit
        - DCU now offers a wider range of certificates. (see our 
          weekly rates posted on Greater Maynard Live Wire)
        
        - DCU's new Mini-Jumbo and Jumbo CD's will automatically renew 
          at maturity.
        
        
        
        LOAN PRODUCTS:
        
        General Information
        - 24 hour approval time on all consumer loans.
        
        - Digital employment verification is not required for loan 
          applications. 
        
        - Notarized signatures are no longer required when signing 
          loan documents.
        
        
        Vehicle Loans
        - No maximum and minimum loan amounts.
        
        - No restriction on loan amount to loan term.
        
        - Simplified financing programs.
          
        - Expanded financing terms.
          
        - Lower rates.
          
        - A paid-in-advance insurance binder is no longer required.
        
        - When re-financing a vehicle, DCU no longer requires the 
          original Bank's note and loan agreement or the vehicle's 
          original purchase and sales agreement.
        
        - On a private sale of a vehicle, DCU no longer requires the 
          seller's signature to be notarized on the bill of sale.
        
        - On a vehicle purchased from a dealer, DCU no longer requires 
          the purchase and sales agreement be signed by the dealer.
        
        - DCU will refinance any vehicle as long as it is paid off 
          prior to being 10 years old.
        
        
        VISA Credit Card
        - 6 month employment, in order to make a VISA application, is 
          no longer required.
        
        
        Certificate Secured Loan
        - DCU offers a one-payment Certificate Secured Loan that is 
          now processed in the branches.
        
        
        
        MISCELLANEOUS CHANGES:
        - All American Express products can be purchased from any 
          share account.  The member is no longer required to transfer 
          the money to their primary savings account.
        
        - Members are no longer charged to put a stop payment on an 
          ACH withdrawal.
        
          If you have any questions about our products and services, 
          please contact the DCU Member Service Center at DTN/223-8444 
          or 508/493-8444.
        
          DCU will update this notes file as improvements to products 
          are made and/or new products are introduced. 
        
        
          If you have questions about information submitted to this 
          file from DCU, please contact Sandy Ramalho, Information 
          Officer, at DTN/223-6735 or 508/493-6735, ext. 231.

T.R	Title	User	Personal Name	Date	Lines
415.2	I'm alos impressed. DCU postings, it's about time.	STAR::PARKE	True Engineers Combat Obfuscation	`Tue Jan 07 1992 22:53`	10
	I'm also impressed with the outflow of information. Nisreen, Would it be possible to request that the DCU publications be okayed for wider distribution via mail lists, if posted here. Given the content, this is probably ok, but making it official could be VERY good press for DCU and allow fast, free, flow to interest lists including members who don't read notes.
415.3		MIZZOU::SHERMAN	ECADSR::Sherman DTN 223-3326	`Wed Jan 08 1992 09:09`	3
	I'll second that! Steve
415.4	Product Update Correction	STAR::CANTOR	Have pun, will babble.	`Thu Jan 09 1992 08:52`	14
	Date: 08-Jan-1992 09:37am EST From: DCU Dept: CREDIT UNION DIGITAL EMPLOYEES' FEDERAL CREDIT UNION PRODUCT UPDATE CORRECTION In the Product Update sent yesterday, DCU stated that we would provide 24 hour approval time on all consumer loans. This change is DCU's goal for 1992. We are currently in the process of streamlining all consumer loan application forms and approval procedures. Our apologies for the error.
415.5	DCU memoranda can be forwarded	STAR::CANTOR	Have pun, will babble.	`Thu Jan 09 1992 09:02`	17
	re .2 According to Sandy Ramalho at the DCU, these memoranda which come from the DCU can be extracted and forwarded to other DCU members. Sandy can be reached at dtn 223-6735, ext. 231. A reminder, though, that except as specifically allowed, other notes in this conference should not be forwarded outside of Digital Equipment Corp., and, as a matter of courtesy, you should obtain the author's permission to forward them even within Digital. You may extract and forward THIS note without restriction. Dave C. Acting moderator, DCU.NOTE Copy of this note furnished to Sandy Ramalho at the DCU.