SHAREHOLDER - Schlumberger Employees Credit Union
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WINTER 22
SHAREHOLDER
A quarterly publication for the members of Schlumberger Employees Credit Union
Your New Year’s 2022 Home &
Auto Buyer’s
Resolution: Workshops
Financial We are excited to offer the monthly
Home Buyer’s Workshop and bi-monthly
Auto Buyer’s Workshop again for 2022.
Fitness for 2022 Members and potential members are
welcome to join online via live-streamed
webinar to learn the ins-and-outs of
the home and auto buying processes.
Members who attended these workshops
2022 is here and it’s a chance to refresh monthly bill pay, automate loan payments, in the past found them incredibly helpful in
and refocus. While you’re setting your New and more. their buying process. Don’t just take our
Year’s resolutions, consider adding financial word for it! Here’s what some of our 2021
fitness to the list. Here are five ways you Build Your Budget attendees had to say:
can strengthen your financial fitness and Whether you have a current budget in
create strong habits for 2022 and all the
years to come.
place or not, the new year is a great time
to re-evaluate your monthly finances. “ Thanks for a great session. Really
appreciate all those fundamental concepts
”
Calculate your monthly payments, such
and explanations.
Build Up Your Emergency Fund as home loan, auto loan, and credit card
A rainy day can happen any time. Are you spend. See where you can improve Serdar A., 2021 Attendee
ready for the unexpected? More than half your spending habits and build a better
of Americans don’t have an emergency
fund or liquid cash (cnbc.com). You can
understanding of your monthly needs.
Websites like nerdwallet.com have great
“ Very informative and beneficial
considering that they are aware of the
start now! Consider saving $10-$20 per
paycheck to build up to three to eight
months of income, depending on your
resources and references to create a
personal budget and stick to it.
Schlumberger profile and personality.
Sheldon R., 2021 Attendee ”
monthly budget and needs. Save more Review Your Credit Report Interested in signing up? View our
per month if you are able. Calculate your Did you know you can request one list of upcoming dates, times, and
monthly expenses to make sure you have free credit report annually from registration links on our website. Scroll
enough saved should an emergency annualcreditreport.com from each of the over the “Education” tab and click on
happen. Make it easy with SECU by setting three major bureaus? Each new year, take “Auto Buyer’s Information” or “Home
up an automatic payroll deduction. Should a moment to request your reports and Buyer’s Information” to get signed up! All
an emergency arise, SECU makes it easy review for any inaccuracies and to check workshops are being hosted remotely until
to access your cash with access to over that no one is using your credit unlawfully. further notice.
6,000 CO-OP Shared Branch locations If you do spot an error, or what appears to
across the US and 55,000+ surcharge-free be fraudulent activity, report it to the bureau
Allpoint ATMs worldwide. right away.
Automate Your Money Revisit Your Retirement Funds
Set up direct deposit with your employer If your company offers a 401 (k) plan,
to put your paychecks into your SECU consider contributing enough to meet the
accounts. If you’re a current Schlumberger maximum company match. Making regular
employee, you can have your checks split contributions to a retirements savings like
and go into two financial institutions. Not a 401 (k) or IRA account can help you
with Schlumberger? Contact your HR or better plan for your retirement. SECU offers
Payroll Department to help you set up Traditional and Roth IRAs to help members
your direct deposit. Once you have your save for retirement. There are no initial or
paychecks going into your SECU accounts, monthly fees charged for IRA investments
you can automate routine savings, set up with SECU.
From the President: Member Survey Findings
Your credit union remains strong through November 2021 YTD with $917 How did the senders get my information? We recently conducted our 2021 Member Survey and finalized the results, comparing them to our 2019 findings. Many
million in assets, and 28,000 members. Our capital has grown to $169 At SECU, we are committed to protecting our members’ personal of our members remain concerned about our limited locations, and our newer, shorter lobby hours. We continue to serve
million, yielding a net worth ratio of 18.4%, which is a more than adequate information. As such, we do not sell or otherwise distribute it to nearly 30,000 members worldwide, and our team works diligently to serve them remotely. Though our lobby hours have
safety margin as per NCUA (National Credit Union Administration – the non-affiliate third parties. been limited since 2020, our team is working from 8am-4:30pm central to support our members through phone calls
Federal regulatory agency that insures credit unions) requirements. and online as well. We’d like to remind our members needing face-to-face services of our participation in the CO-OP
However, some information about mortgages, regardless of what lender
SECU continues to remain 5-Stars rated for the 72nd consecutive quarter the consumer works with, is public record. That is how scammers Shared Branch network. SECU members can access the shared network of over 6,000 credit unions across the United
through December 2021. The 5-Stars rating is the highest rating offered like this can obtain your contact information. Notice that the account States for access to teller services, cash deposits and withdrawals, cashiers checks, and more. We do advise calling
by Bauer Financial, Inc., indicating that SECU is one of the safest financial number provided in the letter does not match yours – this should the credit union you plan to visit prior to make sure their lobby hours are current and the services needed are available. Some locations even
institutions in the U.S. You can rest assured we have your best interest in immediately alert you to the likelihood of something being a scam. offer weekend and evening hours, or drive through options! To access the Shared Branch network, use the zip code locator at the bottom
mind. right-hand side of our website.
What happens if I call the number on the letter?
SCAM ALERT: Lapse of Home Warranty Coverage Calling the number may connect you with a real person, or it may We also want to remind our members of the tap-to-pay feature on our Visa Credit Cards. Many members noted they would like this service
Letters from American Home Protect, LLC. connect you to automated recording prompts. Regardless, do not offer included. All newly issued credit cards come enabled with this feature at participating merchants.
SECU members have reported receiving letters in the mail urging them to them your personal information. Doing so could result in undesirable You reported that our member service has improved over the last two years, and we continue striving for excellent service. If you have
call a number about a time-sensitive matter on their mortgage. We have consequences in relation to your privacy and finances. questions or concerns about your account, please reach out to us at secu@slb.com and our Member Service Representatives can assist. After
reviewed copies of these letters and can confirm that this is a scam. hours support is provided by calling (281) 285-4551.
What should I do if I get this letter?
What do these letters look like and what do they say? The best thing to do is disregard the letter. Dispose of it however you
These letters appear to come from American Home Protect, LLC. and would any other junk mail you receive. In addition, you are always
contain the line: “RE: SCHLUMBERGER EMPLOYEES CU, Purchase encouraged to contact SECU directly should you have questions or Lower Your Interest Rate
Date... Potential Lapse of warranty coverage.” concerns. Right now, SECU offers refinancing specials that knock up to 2%
off your current interest rate (not to exceed current floor rate), OR
The letter asks the recipient to call 1-888-446-1264 and warns that failure Technology Updates we’ll get you to our lowest posted rate if you qualify 0913. Some
to call this number could result in a potential lapse of coverage. We continue to evaluate our portfolio of technology to dealerships or other lenders make it seem like they’re the only
make your member experience seamless and easy. option for financing, but they aren’t. You can turn around and
We are currently testing a new Interactive Banking Kiosk refinance with SECU as soon as you walk out of the door. It may
(IBK) that will showcase in our Sugar Land branch in 2022. It will
not seem like 10% versus 5% is a big difference in savings, but on
not have ATM functionality but will be able to assist with basic teller
a loan of $25,000 over 60 months, that’s a difference of about $60
transactions like cash or check deposits, cash withdrawals, funds
transfers between accounts, loan payments, and more. We hope
a month and thousands saved over the life of the loan.
this will be a useful solution to our limited lobby hours and locations
moving forward. Change Your Loan Term Your Way
The loan term, or number of months of the loan, is how long you
On behalf of SECU board of directors and staff, we thank you for your have to pay it off. You can lower your term and pay off your debt
continued support. faster, or if you need more cash per month, you can extend your
refinance term to lower your monthly payment 0508. Use our
loan calculators online to see how the term affects your monthly
payment and be sure to ask your loan officer.
Who is sending these letters?
There is a disclaimer at the bottom of the letter stating that it came
from “American Home Protect, LLC.” In looking at their page on the
Harold Ottis Four Reasons to Refinance Save on GAP and More
SECU offers additional products like Guaranteed Asset Protection
Your Auto Loan with SECU
Better Business Bureau website, www.bbb.org, you will notice multiple President
complaints and one-star ratings regarding this advertising. and Mechanical Repair Coverage at much lower costs than the
dealer. When you refinance with SECU, you’ll have the opportunity
You know refinancing your auto loan can save you money, but does to add these on for peace of mind on your loan.
the thought of moving your loan from one financial institution over
There will be $1,000 in e-door prize giveaways for members who to SECU seem like a hassle? Trust us! It’s as easy as one, two, A Lower Monthly Payment
attend the online event. To participate online, you’ll need internet three. All you must do is start the loan application online, and once Refinancing your auto loan is a great way to get a little extra cash
access and an up-to-date web browser. Audio will be made approved, our team will take care of the rest. Here are four great each month. Talk to your SECU loan officer about how to lower
SECU available through a provided telephone number and PIN, provided
during online registration. Members MUST pre-register for the event.
reasons to refinance your auto loan today. your current loan payment. Refinancing from another financial
institution is a great way to lower your monthly auto loan payment.
SETS 74th Details can be found on our website’s News and Events section,
www.secu.slb.com.
ANNUAL As a Member and Shareholder, the Annual meeting of Members
allows you the opportunity to elect your Board of Directors and to
MEETING express opinions regarding SECU policies and programs, Credit
Unions are the only financial institutions owned entirely by their Featured Loan Rates
members. SECU is a MEMBER OWNED, MEMBER LEDSM financial
institution solely sponsored by Schlumberger for a specific mission Auto Loan (ALA*) 1.99% APR*
1225.
The 74th Annual Meeting of Members is set for Monday, February 21, Boat Loan (ALA*) 1.99% APR*
Mission Statement: The Schlumberger Employees Credit Union is a
2022 at 9am CST. SECU will conduct our meeting via webinar, which
not-for-profit, full service financial institution dedicated to assisting Motorcycle Loan (ALA*) 1.99% APR*
will allow more members to participate. In February 2021, we had 218
members in meeting their financial needs. Consolidate (ALA*) 5.49% APR*
registrants in attendance from 31 countries.
We hope you’ll plan to join us online for our Annual Meeting. VISA Card (ALA*) 9.90% APR*
Your president and board will make an informative presentation
covering the financial soundness, growth, and strategic direction of
our credit union. Questions submitted from the registrants will be Contact a Loan Officer today!
addressed following the event. *APR is Annual Percentage Rate. Rates depend on terms and conditions. Contact a Loan Officer today!
*ALA is As Low As *Rates are accurate as of this edition’s Shareholder publication and are subject to change 1017.
SECU Member Asset Chart SECU Committee
SECU Members, Assets and Loans Service
35,000 $1,000
We are always looking for volunteers who are interested
$900
30,000 in serving their Credit Union though committees (monthly
$800
meetings). If interested, please contact our President,
25,000 $700 Directors, or email secu@slb.com.
$600
20,000
Meet the Board
$500
15,000
$400
$300
SECU Executive Board
10,000
$200
5,000
$100
Chairman – Joe Van Valkenburgh
Vice Chairman – Sonny Johnston
‐ $‐
'07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 11/21 Treasurer – Jerry Harper
Members (left axis) Assets ($M) Loans ($M) Secretary – Nadia Hasouris
Board Members – William “Bill” Carpenter, Kannan
SECU Staff Happenings Venkataraman, Bob Fons
In addition to providing a great
member experience, SECU aims
to create an enjoyable work Privacy & Disclosure Information
atmosphere for our staff. This The following information is available online at www.secu.slb.com
year, we celebrated the Astros (Ask A Question: Privacy Policy)
making it to the World Series
1. Privacy policy (with Opt-Out form) See Privacy,
(we were rooting for a win, but still proud of Houston’s
Documents, & Legal: Privacy Policy
home team), and enjoyed wearing costumes in the office to
celebrate Halloween. We welcomed some new staff members 2. Documents available to members See Privacy, Documents,
and celebrated notable milestones with our existing team. & Legal: Documents Available to Members (upon request)
New Staff Members 3. Process of filing complaints See Privacy, Documents, &
SECU welcomes several new members to the team! Legal: Filing a Complaint
Alba Abbasi is one of our newest Wires Processor, joining the
Wires Team from Employment and Training Centers for five
years. Alba likes to sing karaoke and dance. SECU Statement
Megan Lawler re-joins SECU as our newest Teller, having
previously been with Pioneer Bank. She enjoys hanging out
of Condition
with her family, especially her daughter. (as of November 2021) $ in Millions
Staff Service Awards • Assets – $917
Congratulations to the members of our team that reached • Savings – $744
notable service milestones in 2021! • Loans – $147
Denise Brown (10 years), Ann Ha (20 years), Tracey Jones (10 • Members – 27,800
years), Rawan Karadsheh (5 years), Allison Lynn (15 years),
and Mark Sprainis (15 years).
IT PAY$ to Read the Locate the first four sequential numbers of your birth date (MMDD) in this
newsletter and win $25 (cannot be part of a string of numbers). Only primary
Shareholder! members are eligible, using the current issue.
The “Shareholder” is a non-subscription publication of Schlumberger
Employees Credit Union, 205 Industrial Boulevard, Sugar Land, TX
77478. It is distributed to the actual and potential membership of
SECU. SWBC Mortgage Partner (281) 285-3237 / (800) 460-6990.
Contact Us! www.secu.slb.com
MEMBER OWNED, MEMBER LEDSM secu@slb.com
Tel: (281) 285-4551
Federally Insured Publisher: Brittany Brack Toll Free: (800) 272-7328
by the NCUA ABA Routing Number: 313084564 Fax: (281) 285-4436
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