to the March issue of Integration News, a newsletter created to keep members informed of the integration progress of Western Federal Credit Union (Western) and Toyota Federal Credit Union (TFCU), as well as the latest promotions and news for members.
Product Alignment Update
As mentioned in the original merger announcement, Western and TFCU have similar, yet unique product offerings. Because of this, we are undertaking a thorough product line review for each organization to ensure that the best product offerings will be included in the final product line.
To date, we have made some adjustments to both Western and TFCU deposit products by adding additional terms to TFCU's Certificates and reducing some of the minimum deposit amounts. Further product alignments are anticipated by Fall 2008. We will keep you informed through Integration News as progress is made.
Safe Deposit Boxes
Among the benefits of the merger was the ability by several Western branches to offer safe deposit boxes to members. The following Western branches have boxes available with low rates and varying sizes:
Torrance, CA:
1899 Western Way
Hawthorne, CA:
14500 Aviation Boulevard
Westchester, CA:
8632 South Sepulveda Boulevard
Irvine, CA:
4520 Barranca Parkway
McLean, VA:
8301 Greensboro Drive
Meet John A. Bommarito, CEO
With over twenty years of experience in the Credit Union industry, John is the Chief Executive Officer of Western Federal Credit Union. Prior to assuming this position in 2003, he was the President and Chief Executive Officer of TRW Systems Federal Credit Union.
John has a B.A. degree in Accounting from California State University, Dominguez Hills. He also has an M.B.A. degree from Loyola Marymount University, and a J.D. degree from Loyola Law School. He holds licenses as a Certified Public Accountant and Attorney at Law in the State of California.
John is married and has two daughters and one son. He enjoys golfing, fishing, skiing, and because he is a devout UCLA fan, taking his children to the Rose Bowl to enjoy Bruin football.
Team Member Spotlight
Rosario Garza, Branch Manager of the TFCU San Antonio, TX branch, was recently promoted to Regional Branch Manager! Rosario originally joined TFCU in July 2005 as Branch Manager for the San Antonio Branch. With the promotion to Regional Branch Manager she will oversee the branches in her region, which include Allen, TX, San Antonio, TX, Salt Lake City, UT, Mesa, AZ, Aurora, CO, Fairfax, VA, Reston, VA, McLean, VA, and the upcoming branch at Tupelo, MS.
Congratulations Rosario!
"Rosario has proven to be a very strong team player. Her knowledge and experience benefits our staff, our branches, and helps Western provide superior service to our members. Congratulations on your promotion Rosario!"
– Robert Thompson, Vice President of Branch Operations
What's New
WESTERN'S TOYOTA FAMILY COLLEGE SCHOLARSHIP
Do you know a young adult applying to or currently enrolled in college? Western would like to help them! Western's Toyota family college scholarship program offers four $3,000 scholarships to members that are current high school seniors or college students (junior or lower). Apply today! Applications will be available early March 2008 and must be submitted by April 30, 2008. Applications and official rules are available at toyotafcu.org.
TAX TIME LOANΔ
Turn Tax Time into Relax Time! For a limited time, take advantage of a tax time loan up to $5,000 with rates as low as 7.49% APR*. Apply online, in a branch or by phone at 800-230-3306.
AUTO LOAN
Hit the road with auto loan rates as low as 5.49% APR* and win a year of FREE car payments**! Between March 1 and May 31, 2008, if you apply for and fund an auto loan, you will be entered into a monthly drawing to win FREE car payments for a year!
TFCU Call Center Integration Update
Western is diligently working on integrating the TFCU and Western Call Centers. As we work on this integration, you may experience a delay in reaching a Call Center Representative. We appreciate your understanding and apologize for any inconvenience this may cause you.
Email Us Directly
We created a special email address, IntegrationNews@Western.org, to allow members to send questions related to the integration. Please feel free to send us your questions. We may not have immediate answers to every question since many details are still being worked on, however we will respond to every email and work hard to get the answers.
Previous Newsletter Highlights
Each issue of Integration News contains new information on the progress we've made towards integrating the two credit unions, but we also provide a recap of previous issues in case you missed some of the prior information. In addition to this recap, you can always visit the TFCU website to access each Integration News issue.
In the meantime, here's a look at some highlights from past issues:
- TFCU's and Western's computer systems are different. Western is currently working on migrating to the system used by TFCU. Once completed, we will work to integrate TFCU’s member information with Western's.
- TFCU’s and Western's Online Banking and Bill Pay also operate on different systems, however Western is migrating to TFCU's systems in late March 2008.
- Direct Deposits that have been set up with TFCU will remain unchanged.
- Members can continue to use their TFCU checks.
- Year-End Tax Reporting – All 2007 IRS tax forms – 1099INT, 1098, 1099R, and 1099C were issued by Western and mailed in January.
- For increased security measures and to protect member data, when a member asks to change any of their contact information, such as an address or phone number, they will be asked to submit the request in writing by using a Member Data Change Request Form.
- Due to increased wire transfer fraud within the financial services industry, wire transfer procedures have been enhanced and a wire may take up to 24 hours (Monday – Friday) to complete.
- As promised, the Western branches below are equipped with TFCU operating systems to better assist TFCU members. Most services can be performed with the exception of opening a new loan, and repinning or reissuing a plastic card.
- Torrance, CA
1899 Western Way - Hawthorne, CA
14500 Aviation Boulevard (Saturday hours) - Irvine, CA
4520 Barranca Parkway (Saturday hours)
- Torrance, CA
*APR = Annual Percentage Rate. Rate quoted is the lowest possible rate for qualified borrowers and includes a .25% discount for Automatic Payment or having Net Check (Direct Deposit). Your rate may vary. Qualification is based on credit history, debt, and the ability to repay. TFCU is an Equal Opportunity Lender. Rate is subject to change.
ΔMinimum loan amount is $500. Up to 48 months to repay based on loan amount. Refinancing of existing Toyota Federal Credit Union (TFCU) or Western Federal Credit Union loans is not available with this offer. TFCU is an equal opportunity lender. Offer expires April 30, 2008.
**No additional discounts are valid with this o.er. Sweepstakes ends May 31, 2008. NO PURCHASE NECESSARY. Void where prohibited. For complete contest rules, please visit western.org/freeautopayments. Term of loan, vehicle, credit worthiness, and geographic location will determine the APR you pay. No refinancing of existing TFCU or Western loans.
