Project Differentiation

EMPLOYEES OWN FEDERAL CREDIT UNION

As a member-owned, not-for-profit financial cooperative, Employees Own Federal Credit Union is committed to our members and social responsibility. We will uphold our fundamental responsibility to actively serve people within our field of membership and the communities they live in. We will treat all members with respect and dignity and provide affordable financial services to all members. We will provide a range of low cost products and services to the diverse economic and social make-up of our members and potential members. We will look for better ways to reach out to our entire field of membership including the low income. We will aid all of our members in creating wealth and becoming financially responsible. Meanwhile, we will continually in all facets of operations, demonstrate the value of membership in Employees Own Federal Credit Union.

We will educate our philosophy, products, and services to members in a meaningful way so that members, potential members, legislators, regulators, and the community at large will understand and appreciate the unique role that member-owned financial cooperatives play in their lives. Throughout Employees Own Federal Credit Union's strategic plan, we will put forth every effort to enable our members to become financially self-sufficient and successful. We will place high importance on consumer education and the teaching of financial thrift.

This Statement of Commitment to Members is consistent with our credit union principles of "Not For Profit, But For Service" and our philosophy of "People Helping People". This statement represents good business practices that ensure the financial strength of our credit union on behalf of our members.

Section 1: Service to Members

Employees Own Federal Credit Union strives to offer services designed to improve the economic and social well being of all members from all socio-economic backgrounds, including our low- 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:

First Time Home Buyer Program - Allows low income members to purchase their home with a 3% down payment with reduced closing costs. The credit union also provides first time homebuyer education and budgeting as a part of this program. The first time homebuyer program is available to members making less than 80% of the median income for our area.

Fee Free Services - EOFCU provides fee free ATM cards, loan services, draft accounts, overdraft protection, share transfers, notary, travelers checks, and cashier checks.

Risked Based Lending - All consumer loans are evaluated on the potential risk to the credit union. A member's credit history and likelihood of repaying the debt determine loan interest rates.

Cyber Savers and Club Max - Youths under 18 receive incentives such as movie passes and local merchant discounts for systematically saving. Youths receive quarterly newsletters to encourage savings and financial responsibility.

Credit Rebuilder Loans - Members with poor credit histories can reestablish their credit ratings. Loans are approved regardless of credit history and are 100% secured with the member's shares.

Student Loans - Enables members to have access to low -cost GSL and Plus Loans

Individual Development Accounts - Financially support a local IDA program with Northwestern Ohio Community Action.

Loans - Full line of consumer and real estate loans which include New and Used Auto, Recreational, Signature, Visa Classic and Gold, Home Equity, Short Equity, First Mortgage, Second Mortgage, and Construction.

MAX - Members can use an audio response unit to access their accounts 24 hours a day through a toll free number.

EOFCU @ HOME - Members can access their accounts through the internet at www.eofcu.org.

Savings Products - EOFCU offers a full line of savings products, which include share savings, Christmas club, vacation club, certificates, and money markets.

Payment Shaver - Gives members the alternative to leases for new and used vehicle loans.

School Workshop - Credit Union employees sponsor a local school and educate students on financial responsibility along with financial products and services.

Indirect Lending Program - Credit Union loans services are conveniently offered at over 20 select dealerships in Northwest Ohio.

College Student Financial Package - College student can obtain fee free checking, no annual fee Visa, and free ATM fee while in college.

Louis Westrick Scholarship - EOFCU offers $500.00 scholarships to credit union members. The scholarship is offered in memory of Louis Westrick, EOFCU's founding father.

ATM Alliance - The credit union participates in Alliance One, which offers non-surcharging ATM's to credit union members.

Certificate minimum. Certificates can be started with a minimum of $250.00.

Small Loans - EOFCU will offer note loans for a minimal of $300.00 without any loan origination fee.

New Services Planned for the Coming Year:

Increase Louis Westrick Scholarships to four

Develop in house IDA program

Provide bill payer accessibility on web site

Diversify checking accounts and create a variety to meet our members needs

Section II: Member Education

Employees Own Federal Credit Union is committed to member and consumer financial education; in addition we are committed to educating members and consumers, alike, about credit union uniqueness, philosophy, and values.

Current Programs that Support Member Education and Advocacy:

Financial Planning Program - The Credit Union offers a successful financial planning program including retirement, investments, and college planning.

Quarterly Newsletter - Offers products and services along with educational information.

Employee and Volunteer Education - New employees and volunteers are required to complete applicable VAP and Merit course work.

Youth Newsletters - Quarterly newsletters to youths promotes savings and thrift while teaching students financial responsibility.

CU News - Monthly publication that goes to SEGs highlighting specific credit union products and services.

Financial Counseling - Serviced offered to help members one on one to understand their cash flow and budgeting.

SEG Visitation - Visit SEG's on a regular basis to answer questions on EOFCU products and services

Member Survey - Regularly sends surveys to member for feedback on credit union products and services.

School Visits - Credit Union employees visit a local school and educate students on financial responsibility along with financial products and services.

Annual Meeting - EOFCU holds an annual meeting for members each March with approximately 300 attendees.

New Programs Planned for the Coming Year:

Web site enhanced financial education.

Special Seminars for members on Home Banking and Bill Payer.

Further develop Credit Union program in school.

Section III: Involvement/Governance

Employees Own 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 - Board Elections are held by mail ballot. All members are encouraged to participate in their member-owned cooperative.

Annual Meeting - Members are invited to attend the Annual Meeting held each year the first Sunday in March.

Credit Committee - Credit Union maintains an active credit committee which meets weekly to review difficult loan requests. The committee is comprised of five volunteer members.

Supervisory Committee - Five volunteers continually review the credit union monthly for compliance with by-laws, credit union policy, federal regulations, and the Federal Credit Union Act

Volunteer Training - The Credit Union continually offers educational opportunities for volunteers to enable them to understand the responsibility of their position.

Political Activism - EOFCU strongly supports political activism. The credit union supports credit union movement initiatives as a means to provide EOFCU with a strong political voice.

Section IV: Diversity

Employees Own 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:

The Credit Union is an Equal Housing Lender. The credit union does not discriminate based on color, race, sex, religion, national origin or

EOFCU offers a loan officer who is bi-lingual to accommodate our Spanish-speaking members with loan requests along with other member services.

The credit union strives to attract volunteers who are representative of our membership.

New Programs Planned for the Coming Year:

Nominating Committee - The nominating committee will strive to seek members from all types of backgrounds and views in order to ensure diverse volunteers are participating in the credit union.

Increased communication and responsiveness to member concerns if they feel the credit union is not adequately addressing their concerns.

Diversity - Continually attract and seek diversity in staff to represent the diverse make up of our membership.

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

Employees Own Federal Credit Union will work 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, Employees Own Federal Credit Union will participate in local, state and national cooperative activities as appropriate, and will strive to build and strengthen relationships with other sectors of the national cooperative movement

Current Activities that Support the Credit Union Movement:

Chapter Meetings - EOFCU takes an active role in the Lima Area Chapter. Directors and Staff attend and participate at chapter meetings on a regular basis

League Events - Staff and volunteers attend scheduled league events to support and represent EOFCU as part of the credit union movement.

Managers Meetings - Participates monthly in a round table discussion with Lima Area Credit Union managers.
...And other Cooperative Activities:

EOFCU has included Tri-County Rural Electric cooperative as a SEG.

The credit union invites area rural electric cooperatives to our annual meeting.

New Programs

1. None

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, Employees Own 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, it will help 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/FOM Groups Currently Receiving Financial or Other In-Kind Support (including the support given) and Current Public Service Activities:

United Way of Defiance County

Habitat for Humanity of Defiance County

Defiance College Scholarship Fund

Defiance Economic Development Office

Defiance City Schools

Ayersville Local Schools

Defiance Area Public Radio

Boy Scouts

Cancer Relay for Life

Hispanic Awareness

. NAACP Scholarship

Northwest Ohio Educational Service Center

Northwestern Ohio IDA Program

Ohio Credit Union League Foundation

Junior Achievement

Defiance 2000

Defiance County 4-H

Big Brothers / Big Sisters

Volunteer Connection

Kidz Kingdom

Juvenile Diabetic Foundation

Tinora School

Fairview School

Defiance Firefighters

Flowing Rivers Festival

Christmas Angel - Staff donates funds to help needy family each Christmas. Credit Union staff purchases, wraps, and delivers necessary items and toys to the family.

Defiance Chamber of Commerce

Napoleon Chamber of Commerce

Laurels of Defiance

Defiance Police Officer's Association

New Public Service Activities Planned for the Coming Year:

1. Continue active role in the community while continually practicing the Credit Union Philosophy of People Helping People.