| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 815.1 | Geography | GAUCHE::jnelson | Jeff E. Nelson | Thu Apr 14 1994 19:20 | 12 |
| XFCU maintains offices in:
El Segundo, CA (two)
Palo Alto, CA
Farmer's Branch, TX (Dallas)
Morristown, NJ
Webster, NY (two)
Rochester, NY (two)
ATMs are located in each city (not sure if there's one at every
office). ATMs are also located in Stamford, CT (Xerox corporate
headquarters) and Leesburg, VA (Xerox corporate training center).
|
| 815.2 | Size and Assets | GAUCHE::jnelson | Jeff E. Nelson | Thu Apr 14 1994 19:21 | 3 |
| A service representative told me that XFCU has about 66,000 members. I
am awaiting a copy of the annual report (not yet published) to learn
more. That info will be posted when it arrives.
|
| 815.3 | Products and Services | GAUCHE::jnelson | Jeff E. Nelson | Thu Apr 14 1994 19:21 | 68 |
| Because this is a credit union, a savings account with a minimum
balance of $5 must be maintained. This is the cost of a "share".
I have asked for more information on products. Here's what I know.
Default savings: minimum $5 balance, current interest rate of 2.5%
Club Savings Accounts: apparently equivalent to DCU's member-described
accounts; a service representative told me these "can be for anything
the member wants." $5 minimum to open but otherwise no minimum balance.
Limited to one free withdrawl per quarter, after which a $2 service
charge is imposed for each withdrawl throughout the remainder of the
quarter. Interest rate is currently 2.5%.
Checking: $100 to open (or direct deposit, any amount). No minimum
balance, no per check fee, no service charges. Interest is paid on a
quarterly basis on accounts which maintain at least a $50 balance for
the entire quarter. The current interest rate is 1.5%.
AUDIOXPRESS: This is the equivalent of DCU's Easytouch. Functions
include: balance verification, last deposit info, check clearing info,
transfers, withdrawls, XFCU loan payments. Available 24 hours a day,
seven days a week.
Loans, mortgages: Rates are competitive within the member's geographic
region. A car loan special which starts Monday is: 100% financing for
48 months at 6.75% interest with automatic loan payment (either payroll
deduction or automatic withdrawl). With 20% down (80% fianancing),
interest is 6.5%. Without automatic payment, interest is 7% (regardless
of amount financed).
Money Market, IRA: available. XCU Capital Corporation, Inc., a wholly
owned subsidiary of XFCU, also offers securities and brokerage services.
VISA: two cards are offered, Classic and Gold.
Classic Gold
===================== ====
Grace Period to Pay Balance 25 days for purchases same
Balance Computation Method Average Daily Balance same
(including new transactions)
Annual Fee $10 - rebated to card $25
holder, if at the end
of the 12-month cycle
period, purchase (sales
minus returns) for the
year total $1500 or more
Cash Advance Fee $2.00 plus interest same
computed from the date
of the cash advance
Late Payment Fee 10% of past due amount, same
$5 minimum and $20 maximum
Over Limit Fee $10 same
Emergency Limit Increase $5 same
Copy of Statement Fee $2 same
Replacement Cards 2 free, $5 for each card same
thereafter
The current interest rate for both Visa cards is 14.9%.
|
| 815.4 | Fees as of May 1, 1994 | GAUCHE::jnelson | Jeff E. Nelson | Thu Apr 14 1994 19:21 | 74 |
| This is a copy of the fee schedule as of May 1, 1994. The schedule also
includes info on VISA cards (given in previous reply) and Relationship
Advantage Groups (see next reply).
Checking Account Audio Manual
================
Stop payment prder $2 $
Insufficient funds $1
Photostat copy of a paid check $2 $5
Originals of a paid check $5
Check printing varies according to style and quantity
ATM
===
ATM withdrawls - XFCU owned $0
ATM withdrawls - non-XFCU owned $1�
POS transactions $0
ATM Replacement Card $5
ATM Card Rush Order $10
Negative balance due to ATM withdrawl $10
General Audio Manual
=======
Phone Call� .25� $1
Statement copy $2 $5
Deposit return items $10
Wire transfer (domestic) $10
Wire transfer (foreign) $25
Cashiers checks $5
Excess Club Account withdrawls $2
Excess Capital MM Account withdrawls $10
IRA closeout $10
Statement Reconciliation $15/hr, $10 min.
Overnight mail delivery cost plus $10
Title fees cost basis
Locator Fee $10
Travelers Cheques
=================
Regular travelers cheques $0
Cheques for two 5% of face value of cheque
Gift cheques $2.50
�Phone Center, AUDIOXPRESS and ATM fees depend on your combined savings
deposits and loan balances with the credit union. See above for
descriptions of each account relationship group and associated fees.
|
| 815.5 | Relationship Advantage Groups, May 1, 1994 | GAUCHE::jnelson | Jeff E. Nelson | Thu Apr 14 1994 19:21 | 34 |
| XFCU instituted a relationship structure last August. Here is the definition
of the various groups as published by XFCU, effective May 1, 1994.
---------------
Group Total AUDIOXPRESS Routine Calls ATM Fees
Relationship Fee to Phone Center� Non-XFCU XFCU
X-clusive over $5000 all free all free all all
free free
X-pansion $1500.01-$5000 all free .50� per call 5 free, all
$1.00 free
after
5th
X-plorer $0-$1500 .25� per $1.00 per call $1.00 all
call per free
withdrawl
�Routine phone call to phone center is any call that could have been handled
by AUDIOXPRESS: balance inquiry, check clearing information, deposit
verification, transfers fo funds within an account. You will not be charged
if you call to report a lost or stolen ATM or VISA card, to make an address
change, inquire about a problem with your account or a new product or service.
--------------
A member's relationship amount includes all loans, deposits and outstanding
VISA balances. According to a service representative, XFCU determines each
member's relationship group on the last day of each month (thus it is the
balances at on this day which count). It is possible for a member to move
from one relationship group to another on a month-by-month basis.
|
| 815.6 | April, 1994 newsletter on changes to "Relationship Advantage" | GAUCHE::jnelson | Jeff E. Nelson | Thu Apr 14 1994 19:21 | 75 |
| What follows is the front-page article from the April, 1994 issue of XFCU's
membership publication, "IMAGES".
-----------------------
Special Message to All Members
As you know, Xerox Federal Credit Union initiated a new pricing program last
August. This program has enabled us to reduce escalating ATM expenses and in
turn provide you with more XFCU-owned ATMs, higher dividends on deposits and
lower interest rates on loans. As a continuation of the Relationship Advantage
program, we will now begin to charge fees for calling the phone center to do a
transaction that could have been handled through AUDIOXPRESS. These fees, like
the ATM and AUDIOXPRESS fees, will be charged based on your total relationship
with the credit union. Your relationship includes all loans, deposits and
outstanding VISA balances. To find out which group you're in, call AUDIOXPRESS
(1-800-XFCU-222).
Here is a recap of Relationship Advantage Groups with the new Phone Center Fee:
Group Total AUDIOXPRESS Routine Calls ATM Fees
Relationship Fee to Phone Center Non-XFCU XFCU
X-clusive over $5000 all free all free all all
free free
X-pansion $1500.01-$5000 all free .50� per call 5 free, all
$1.00 free
after
5th
X-plorer $0-$1500 .25� per $1.00 per call $1.00 all
call per free
withdrawl
As you can see, there is a great benefit in maintaining a strong relationship
with the credit union. The greater your relationship, the more you contribute
to the cost of maintaining your account and the less fees you will be asked to
pay. That's the bottom line--it's still a business decision based on volume.
A phone center fee will only be charged if you call for one of the following
reasons: balance inquiry, check clearing information, deposit verification,
and transfer of funds within an account. You will not be charged if you call
to report a lost or stolen card, make an address change, inquire about a
problem or a new product or service. Our goal is to reduce the number of
routine calls that come into the phone center, so our service and sales
specialists will have more time to help members with issues that are too
complex for AUDIOXPRESS.
The phone center fee will begin on May 1, 1994. If you would like assistance
using AUDIOXPRESS please call your local sales office. AUDIOXPRESS is
available 24 hours a day, seven days a week. Through AUDIOXPRESS you can do
everything from check on current rates, account balances and payroll postings
to requesting a withdrawl check, or making transfers and credit union loan
payments.
This would be an ideal time to take advantage of the products and services
your credit union offers by transferring account balances from other financial
institutions. Our portfolio of products and services is designed to help you
meet all of your financial goals...whether your goals are to save for future
expenses, buy a house or a car or maintain a no minimum balance checking
account.
If you don't have an AUDIOXPRESS PIN, please let us know right away.
Sincerely,
/signed/
Kevin Foster-Keddie
President, Xerox Federal Credit Union
|
| 815.7 | Sales Office?????? | ROWLET::AINSLEY | Less than 150 kts. is TOO slow! | Fri Apr 15 1994 09:21 | 1 |
| Yuck. Almost as bad as DCU:-(
|