Project Differentiation

Lockheed Georgia Employees' Federal Credit Union

As a member-owned, not-for-profit financial cooperative, Lockheed Georgia Employees' Federal Credit Union is committed to improving the financial well being of our members through economically priced services, convenient delivery systems, and caring personal service.

We will continue to communicate the purpose and value of credit unions to our members, potential members, legislators, regulators, and the public at large, in order to improve their understanding and appreciation of member-owned financial cooperatives.

Lockheed Georgia Employees' Federal Credit Union employees, directors, and volunteers are committed to enabling our members to become financially self-sufficient and successful.

This Statement of Commitment to Members is consistent with credit union principles and represents sound management practices that ensure the financial strength of our credit union.

Section 1: Service to Members

Lockheed Georgia Employees' Federal Credit Union strives to offer services designed to improve the economic and social well being of members from all social and economic backgrounds, including our low-income and moderate-income members, and return financial value to all those who participate in our member-owned financial cooperative.

Current Services that Help Improve the Economic and Social Well Being of Members:

Checking and Savings Plans.

a. Dividend Checking. LGEFCU's dividend checking pays some of the highest dividends offered anywhere today. Additionally, it gives our broad spectrum of members four ways to be service charge free through one of the following conditions: direct deposit, a minimum average daily balance for the month, student, or retired eligibility requirements. Dividends are paid on the entire balance, and there are no minimum balance requirements or per check charges. Free access is also provided to audio response and home banking services.

b. Membership Share Savings. This is LGEFCU's basic savings account. A membership savings account must be maintained for membership. Dividends are calculated by the daily balance method and are credited quarterly.

c. Money Market Account. The MMA pays generally higher dividend rates than savings accounts and provides check or over-the-counter access.

d. Certificates. LGEFCU's competitive certificate program provides flexible maturities ranging from three months to five years, and low minimum deposits to open.

e. IRAs. Members may cross-invest their IRA funds in LGEFCU certificates in order to earn higher dividends. Roth, traditional, and educational plans are available.

f. Freedom Certificates. These special one-year certificates (offered from time to time) give members the option to withdraw funds at any time during the year without penalty.

Consumer Loan Services.

a. Visa Credit Card Programs.

i.The Classic Visa program offers a low annual fee and lower rate for members who usually carry a balance from month to month. For members who pay their balance in full each month, an alternate plan has no annual fee and a slightly higher interest rate.

ii. Cobb Electric Membership Corporation and LGEFCU have co-branded the Cobb EMC no annual fee card that also gives a 1%#37; rebate on their power bill, new purchases, and cash advances to members of LGEFCU who are also members of Cobb EMC.

iii. LGEFCU also offers a Student Visa card (secured by a co-borrower) that provides an opportunity for young members to establish a credit history and responsible borrowing experience.

iv. The Platinum Visa program offers higher lines-of-credit, along with protection and convenience enhancements.

b. Personal Lines-of-Credit. The convenience of any time access is provided for members via credit line checks, audio response, and ATM machine. The personal line-of-credit can also be used by members to "bounce proof" their checking accounts. c. Vehicle Loans. LGEFCU offers a wide variety of rates and terms to fit member needs.

Home Loans. Home financing is available to members nationwide. Rates and terms are flexible and there are no discount points.

a. Members may choose from fixed rate or adjustable rate mortgages.

b. Additionally, LGEFCU has first time homebuyer and construction to permanent loan programs.

c. Home equity line-of-credit loans are currently offered with no closing costs.

d. The HomeOwner's Advantage loan can be used for any purpose and can usually be ready for the member in two weeks.

Convenience Services.

a. ATM's. LGEFCU provides local, regional, nationwide and worldwide access for members and has been proactive in establishing network partnerships to extend the availability of ATMs owned by other credit unions to LGEFCU members. This valuable service convenience helps members avoid fees, and in some cases, offers deposit service.

b. Audio Response and Home Banking. Any time access via the Internet is free for members who want to keep in touch with their accounts 24/7 by phone or online for information and transactions.

c. Autofinder. An in-house service, Autofinder representatives will help members with new or used car purchases. They will find volume pricing for new cars, supply rebate information, have trade-in service, and almost always provide next day delivery. Meanwhile, members may apply for a LGEFCU loan or lease to complete their purchase.

d. Bill Payment. LGEFCU offers this new technological advance in financial service by phone or online through the credit union's Web site.

e. Dealer Direct. This is an indirect lending program offering members the advantage of an LGEFCU vehicle loan while at a participating dealership.

f. Direct Deposit. Member paychecks, social security and other monthly government payments can be automatically deposited conveniently and safely to savings or checking accounts where the funds begin earning dividends immediately. Members can also arrange to have automatic transfers made to other LGEFCU accounts for saving or loan payments.

g. Free Signature Guarantees.

h. Insurance Programs. LGEFCU has arranged for top quality and competitively priced insurance programs offered through a variety of companies for auto/home, cancer care/intensive care, dental, Medicare supplement, mortgage related, and legal coverage.

i. Mail. This is an alternative for members in addition to branch, ATM, audio response, night deposit and home banking service. Postage paid envelopes are available to members on request.

j. Money Orders.

k. Notary Service.

l. Phone-a-loan. 24/7 service.

m. Members® Financial Services. Representatives are available for members seeking diversified investments to increase their yield.

n. Traveler's Checks.

o. U. S. Savings Bonds / Sales and Redemption.

p. Wire Transfer.

q. Shared Branch Network. These branch locations are shared by many credit unions nationwide. Here, members can make deposits, withdrawals, and loan payments just as they would at an LGEFCU branch. Most locations have 24/7 ATM's, many of which accept deposits.

r. Web site. Through LGEFCU's site, members can obtain service information, apply online for most services, access home banking and Web Bill Pay, find ATM locations, Shared Branch facilities, view the current annual report and newsletter, use calculators, find special financial guidance for the young, and link to a variety of interesting sites.

Section II: Member Education

Lockheed Georgia Employees' Federal Credit Union is committed to financial education, and awareness of credit union uniqueness, philosophy, and values for our members and non-members.

Current Programs that Support Member Education and Advocacy:

Seminars. LGEFCU holds free financial seminars for members. Topics range from making the right choices when buying a home to helping young members with budgeting and the wise use of credit.

Employee Orientation. Employees receive training in credit union philosophy, needs based sales, product knowledge, and operations.

Employee Educational Reimbursement Program. LGEFCU is committed to the improvement of its employees through all applicable educational avenues (the costs of which are frequently born by LGEFCU.

Member Newsletter. The newsletter address the uniqueness and financial advantages of using credit unions as well as new product information, consumer alerts, the convenient use of services, etc.

Employee Newsletter. A wide range of topics are addressed in the newsletter, including service reviews as necessary, motivation, operational and legal updates, etc.

Sponsor Group Newsletter. This newsletter provides an additional awareness about credit union services for current and potential members in their workplace or group association.

Employee Update Series. Employees receive ongoing mini-seminars on a variety of well planned topics to ensure compliance, consistency, and superior member service.

Member Financial Resource Libraries. LGEFCU has libraries at most locations, filled with helpful information on car and home purchases, budgeting, PC's with internet access, and much more.

Online Financial Education For Elementary, Middle, and High School Students. Through LGEFCU's Web site, young members are able to access CUNA's Googolplex learning experiences. Googolplex is refreshed monthly with wise advise. The Web site also provides links to financial aid resource information.

Section III: Involvement/Governance

Lockheed Georgia Employees' Federal Credit Union will endeavor to preserve credit union democratic principles, including demographic representation and volunteer participation in credit union activities.

Current Programs that support Involvement/Governance:

Board Elections. Whenever there is more than one nominee for a position, elections are held by mail ballot to all members.
Committee Involvement. LGEFCU has several member/volunteer committees. The committees are: Executive Committee, Loan Review Committee, Supervisory Committee, Investment Committee, Loan and Dividend Committee, Plans, Programs, and Education Committee, Operation Systems and Facilities Committee, Legislative and Legal Committee, and the Field of Membership and Mergers Committee.
Political Involvement. LGEFCU is actively involved in preserving the credit union movement through participation in the Governmental Affairs Conference, etc.

Section IV: Diversity

Lockheed Georgia Employees' Federal Credit Union recognizes the value of demographic diversity in staff as well as in volunteers, and will strive to bring people of diverse backgrounds and experiences into leadership and other roles at the credit union.

Current Programs that Promote Diversity:

Equal Employment Opportunity. LGEFCU fills vacancies by hiring qualified candidates without regard to race, sex, color, religion, national origin, disability, veteran status or any other basis protected by law.

Board Representation. The Board of Directors continuously pursues and trains volunteer officials through involvement with LGEFCU's various committees for potential service on the Board. The directors also seek to expand the Board's diversity to compliment the changing demographics of membership.

Member Survey. Regular surveys provide staff, Board and other volunteers with salient information on member satisfaction issues in order to develop effective strategies.

Section V: Commitment to the Credit Union Movement and other Cooperative Activities

Lockheed Georgia Employees' Federal Credit Union works to build and strengthen our unique credit union movement by providing financial and in-kind resources to others within the credit union community, and by actively advocating the credit union difference at all levels of government and in other appropriate public forums. In addition, Lockheed Georgia Employees' Federal Credit Union participates in local, state and national cooperative activities as appropriate, and strives to build and strengthen relationships with other sectors of the national cooperative movement.

Activities that Support the Credit Union Movement:

Commitment to Small Credit Unions. LGEFCU's CEO and President, Edwin Collins provides guidance to a small local credit union as well as serving on their Board of Directors.

Leadership Roles. LGEFCU's management serves on boards and committees for credit union related organizations.

Cooperative Advertising. LGEFCU participates in state and national collective advertising of credit union values campaigns.

Continuing Education. LGEFCU assists with undergraduate and graduate education so that the level of employee service and professionalism within the credit union industry is enhanced.

Partnering with Polish Credit Unions. LGEFCU has provided active learning environments for employees of several new and struggling Polish credit unions.

Section VI: Public Service / Corporate Citizenship

Through direct financial support or other in-kind contributions to worthwhile local organizations, and by participating in public service activities, Lockheed Georgia Employees' Federal Credit Union strives to be an active partner in our community. We recognize that practicing good Corporate Citizenship supports the credit union philosophy of People Helping People. Furthermore, our involvement helps raise the overall level of social and economic well being of those in our community, help to strengthen ties within the community, and better position us to reach out and serve – as only credit unions can – those people in greatest need of affordable financial services.

Community/ or Other In-Kind Support (including the support given) and Current Public Service Activities:

Partners in Education / Local School Systems. New in 2000, this program seeks to promote an improved awareness about credit unions and as well as teaching students how to successfully manage credit and their money.

Giving Back to the Community. During December 1999, LGEFCU employees raised more than $15,000 to help needy and ill members of families in their community during the holidays, purchasing gifts, clothing and necessities and delivering them. In addition, LGEFCU contributed dollar for dollar to the funds collected by its employees.

Monetary Donations. LGEFCU identifies a budgeted amount annually to contribute to Board approved charitable activities and organizations.