About Us & Latest CU News.

GENERAL MANAGER'S MESSAGE

As many of you know, I have plans to retire at the end of September, and we have also advised that we are so fortunate to have Michael Lotz taking over then as General Manager. Later in the Summer I will share my “Swan Song” with you, but for now, I want to continue with this monthly “Personal” message

All members received the Promotional Brochure this month announcing our Vehicle Loan Promotion. If you use the loan to purchase an earth-Friendly Hybrid, your loan rate will be reduced by a full 1%. Additionally, all members taking a Vehicle Loan will receive a “Gas Rebate” of 1% of the amount Financed or Refinanced.

We are now offering Our Annual Vacation Loan Promotion. Details are contained in our Newsletter and inserts with your statements. Remember, these are just available until September 30^th.

And letters are going out to all Members with Consumer Loans offering the “Skip-A-Payment” opportunity whereby Members can skip their next Monthly Payment by paying a fee.

Because we have such a large number of members who are now using our Web Site, we find this “channel” or method of communication is much better suited to explain and promote our popular offerings. I have just had these updated so the content remains current.

While this is my “Personal “message, please make sure that you scan our Home Page for access to details on the many Services and Promotions we have. (Make sure you click on the “flipper” messages at the top of our Home Page for details). These issues focus on things like our “Liquid” and “Step-Up” CD, Home Banking, Home Equity Loans, Direct deposit of Income Tax refunds, Vehicle Loans, IRA accounts, etc..

We are pleased to advise that we have hired our New Loan Officer who will be joining us in May. Next month I will include a brief “bio” by way of introduction.

We continue to see interest in our Liquid CD. This Certificate is unique in that you can add to it, or withdraw from it at any time during the 1 year term, without penalty, and still get the same rate you got when you opened it. Wouldn’t that be nice to have in the downward slide in Savings Rates. If you are interested in investing for a one year period, this should appeal to you.

And don’t forget to consider our Step-Up CD . No one knows what direction Rates will go, but it is unlikely they will go much lower than they are now. This Certificate allows you the opportunity to request an increase in the rate any time during the 1 year term, if we increase the rates we are offering.

The one area that is "Near To My Heart" (because I handle these personally), is our
Home Equity Loan Program:

• With the New House Market suffering, we are seeing a lot of interest in our Home Equity Loans. And I should know as I handle all of them for the Credit Union.
• You can choose from a Fixed Rate or a Variable rate Loan.
• And we charge you no fees.

• Why not give me a call to discuss your options. (347-418-4182).

JFK Branch Office: Remember , our Satellite office at the British Airways JFK Terminal is located on the Arrivals Level of Terminal 7. The direct dial to our office is 718 – 425 – 5770 and we are open Wednesdays and Fridays from 9:00 AM to 5:00PM. Members can apply for any of the full line of services available, and non-members can join. Withdrawals can be made by check, which can be cashed, or you can use the ATM machines at the Terminal. Jonathan Fernandez covers this office, so if you have a need, please stop by and see him.

And if you know of anyone that is interested in joining the Credit Union, whether they work for British Airways or not, ask them to stop by our branch or give us a call.

Our Goal and Commitment - We remain committed to being available to answer your questions, discuss your financial needs, and to meet with you when you want. Your options are unlimited as you can choose whether you want to log on to our web site for Online Banking, email us, use our Audio Response automated telephone access system, call us, FAX us, or visit us.

I invite you to continue to watch our Web site for future developments. Please feel free to contact me directly at 347 – 418 – 4182 or via e-mail at dick.gerien@ba.com .

Sincerely,

DICK GERIEN
GENERAL MANAGER

Mission Statement:
" British Airways Employees Federal Credit Union is a secure financial institution committed to meeting the evolving needs of members by providing outstanding financial products and services using advanced technology with personal, professional and friendly service within the highest standards of integrity."

---

Click here for our current newsletter

If you do not have Adobe Acrobat Reader, you can obtain a free copy by clicking here.

Field of Membership Definition:

Once you become a member of the British Airways Credit Union, your family members are eligible to join as well. Credit Union membership is a great gift to give to your family members. The definition of "family" is very liberal and can include a grandparent, parent, spouse, sibling, child, grandchild, or any other legally recognized family relationship including domestic partners. They too can discover the many benefits credit union membership has to offer. Contact the credit union for Membership Applications for your family members today.

HISTORY OF THE BRITISH AIRWAYS FEDERAL CREDIT UNION

In 1951, a small Christmas Club was established by the staff of the BOAC Accounts department in Manhattan. The significant interest in this club, and it's rapid growth, created the need for the organization of a Credit Union. The British Airways Federal Credit Union was formally chartered by the National Credit Union Administration on February 5, 1953 and by the end of the first year, shares totaled $17,773.

Major factors in it's early growth were the addition of the British Airways reservations staff; implementation of Payroll Deduction; and the expansion of membership to the employees of the other airlines and travel partners that British Airways had interline agreements with.

The foundation of the Credit Union has stood well the test of time. It has responded to thousands of members during it's almost 50 years of service. We have seen it grow from an organization only offering regular savings and personal loans, to a full-service Financial Institution with a wide array of services.

Credit Unions like ours remain a bright spot in the financial community. Across the country, Credit Unions continue to grow by doing what we do best - providing our members with a safe place to save and a source of loans at reasonable rates.