Posted on December 29, 2017
WRCU December 2017 Newsletter
What Happened at WRCU in 2017?
Not only was 2017 the 70th anniversary of the founding of WRCU, it has also been an exciting year for new initiatives at your credit union! We listen and take action when members tell us about services they would like at WRCU. We have also made some changes to strengthen your online security and make your credit union experience as seamless and convenient as possible.
Early in the year, we introduced our Mobile Banking App for Android and iPhones. This was developed in conjunction with our core banking software provider to ensure interoperability with the credit union’s systems and to maintain a secure environment for your Internet Banking transactions. This native app gives you quick access on your phone or tablet to commonly used banking functions. Later in the year, after extensive testing, we added remote deposit capture to the app, giving you the ability to deposit a check in your WRCU accounts with your mobile phone or tablet from anywhere that you have a data connection. If you don’t already have it, you can find the app in the app store for your Android phone or iPhone.
Our browser-based Internet Banking software was also completely redeveloped this year. This was done to keep up with changes in technology, primarily around security, as well as make your Internet Banking transaction go quicker and easier for you.
As part of our Internet Banking makeover, our online BillPay was also upgraded. Pay your bills electronically, or BillPay can even send a check by mail to the payees that don’t support electronic payments. You can also use BillPay to send money either electronically, or with a check by mail, to a friend, relative or anyone else you choose.
You can now apply for a loan online on the WRCU website. We have made the process easy and secure; no need to come into the office just to apply for a loan.
If you are buying an electric, hybrid or other vehicle that gets 35 mpg or more, then be sure to look at our new Green Vehicle Loans. With a Green Vehicle Loan, we will take .5% off our already low rates. Find more details about this loan option on our website.
What didn’t change in 2017? Our commitment to personalized service to all WRCU members didn’t change.
Tax Time Interest Statements – 1099s and 1098s
The Internal Revenue Service (IRS), requires that the White River Credit Union mail various informational forms to our members by the end of January. These forms are issued for each individual member account number so you may receive more than one of these forms if you have more than one member account with us.
Form 1099-INT - Interest Income Statement -
This statement will be mailed to members who earned at least $10.00 interest for a specific member account number. If a member received less than $10.00 interest during 2017 for a specific member account number, a 1099-INT will not be issued for that account number.
Form 1098 - Mortgage Interest Statement -
This statement will be mailed to members who paid at least $600.00 interest on a mortgage loan. If a member paid less than $600.00 in mortgage interest, a 1098 will not be issued for that loan number.
Your Responsibility -
The IRS does not require that a 1099-INT be issued for interest earnings of under $10.00, but you are still responsible to include all interest earned when filing your tax return. The IRS does not require that a 1098 be issued if you pay less than $600.00 in mortgage interest. Refer to your account statements which you received in the mail or online, or that you can view online at any time with our Internet Banking solution, to find interest earned amounts that are under $10.00 or mortgage interest paid amounts that are under $600.00.
Direct Deposit of your IRS Refund
Your IRS tax refund can be deposited directly to your WRCU Share Savings or Share Draft Checking account. Refunds are usually received much faster with direct deposit, in fact it can be as soon as two weeks. Simply complete the designated portion of your income tax return with the following information:
1. Refund amount
2. Routing number- The WRCU routing number is 211691279
3. Account type- Checking or Savings
4. Account number- for Checking add 02, savings add 01 at the end of your account number
If you have e-alerts set up at WRCU, you will know as soon as the money is deposited! Don’t yet have e-alerts? Here’s how to set them up: http://bit.ly/28PoKb0
All branches of WRCU will be closed on the days listed below. Remember, we are always here for you online, and at our ATMs
|January 15th||Martin Luther King's Birthday|
|February 19th||President's Day|