Employee Spotlight

Terry Barksdale

Vice President Commercial Lending

 

Team Member Since 2021

Loves to Roam

Growing up as a Military B.R.A.T. traveling throughout the country and the world may have been the beginning of Terry’s love of exploration.

She finds beauty and wonder in every corner of the globe. However, her true joy is when she’s surrounded by family.

To her, a place is perfect when it becomes a backdrop for creating memories with her loved ones. She and her husband, Kevin, have nurtured a beautiful family, blessed with two children and three grandchildren.

In all facets of life, Terry’s journey is a testament to her spirit of exploration, her dedication to the financial realm, and her unwavering love for her family.

What Does Banking With A Purpose Mean to You?

Listening to our member’s needs and looking out for their best interests.

 

Where do you volunteer?

I’ve served on the Finance Committee at my church, as well as The Kitchen and
March of Dimes

What are you currently reading or binge-watching?

I like watching “The Chosen,” but I love reading, especially Bible studies.

What is the Best Advice You’ve ever received?

There are often valleys in life, But they’re temporary.

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Employee Spotlight

Zandra Nelson

Consumer Loan Underwriter

With AGCU 35 Years

Relax with a Book

Zandra spent most of her life in Springfield and finds joy in reading, with a particular passion for mysteries and detective novels.

Her family is her pride and inspiration, and she delights in sharing stories of her daughter and two stepchildren, as they carve out happy lives.

Zandra relishes the peaceful moments with a book, her loving husband and their feline companion, Missy.

Zandra started as a teller, and has served in various departments during her career, but especially enjoys the loan department. She shines at evaluating loans and advising members about ways to enhance their eligibility. Her unwavering commitment has made her an invaluable asset to AGCU and our members.

 

What Does Banking With A Purpose Mean to You?

Accurate and up to the minute account information from employees who really care about members.

 

What’s the next place on your travel “Bucket-List”?

An island vacation in the Caribbean on Turks and Caicos

How do you define “Success”?

Doing something that makes you happy

Favorite Place

I love being at the lake and watching the water. It’s so calming.

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Seize the Opportunity: Why Now is the Perfect Time to Open a Share Certificate (CD)

Are you looking for a secure and rewarding way to grow your savings? Look no further! Opening a Share Certificate, also known as a Certificate of Deposit (CD), can be a smart financial move, especially in today’s economic climate. Let’s delve into the key reasons why now is the perfect time to embrace the benefits of a Share Certificate.

Secure and Guaranteed Returns:

Share Certificates are a low-risk investment option offered by credit unions and banks. Unlike traditional savings accounts, Share Certificates offer fixed interest rates over a set period, usually ranging from a few months to several years. This means you can lock in your interest rate at the time of purchase, ensuring guaranteed returns on your investment.

 

Protection Against Market Volatility:

With economic uncertainties and market fluctuations, it’s natural to seek stability in your financial decisions. Share Certificates provide a safe haven for your money, shielding it from market ups and downs. Your funds will be secure, regardless of what happens in the financial landscape.

 

Higher Interest Rates:

Currently, many financial institutions are offering competitive interest rates on Share Certificates. These rates are often higher than what you would earn in a regular savings account, allowing you to maximize your returns without taking on additional risks.

 

Diverse Term Options:

Share Certificates come with a variety of term options to suit your specific financial goals. Whether you prefer short-term investments or long-term planning, you can find a Share Certificate that aligns perfectly with your needs. Check here for more information about rates and terms.

 

Flexible Terms for Optimal Control:

While Share Certificates are known for their fixed terms, some institutions offer flexible options. For example, you might find penalty-free early withdrawal or the ability to ladder your Share Certificates to take advantage of varying interest rates and maturity dates.

 

Reinforcing Financial Discipline:

By committing your funds to a Share Certificate for a set period, you encourage financial discipline and discourage impulsive spending. This proactive approach to savings fosters a healthy financial mindset and encourages long-term planning.

 

Insured and Protected:

Just like other deposit accounts, Share Certificates are insured by the National Credit Union Administration (NCUA) up to $250,000. This added layer of protection ensures the safety of your investment.

 

Opening a Share Certificate is a wise and timely decision for securing your financial future. With guaranteed returns, protection against market volatility, and higher interest rates, Share Certificates offer an attractive investment option. Take advantage of the diverse term options and flexible terms to find the perfect fit for your financial goals. Embrace the opportunity to grow your savings with confidence and peace of mind. Open a Share Certificate today and pave the way for a financially rewarding tomorrow!

Ready to open a CD? We can help!

Call 866-508-2428 or start a video banking call today!

Seize the Opportunity: Why Now is the Perfect Time to Open a Share Certificate (CD)

Are you looking for a secure and rewarding way to grow your savings? Look no further! Opening a Share Certificate, also known as a Certificate of Deposit (CD), can be a smart financial move, especially in today’s economic climate. Let’s delve into the key reasons why now is the perfect time to embrace the benefits of a Share Certificate.

Secure and Guaranteed Returns:

Share Certificates are a low-risk investment option offered by credit unions and banks. Unlike traditional savings accounts, Share Certificates offer fixed interest rates over a set period, usually ranging from a few months to several years. This means you can lock in your interest rate at the time of purchase, ensuring guaranteed returns on your investment.

 

Protection Against Market Volatility:

With economic uncertainties and market fluctuations, it’s natural to seek stability in your financial decisions. Share Certificates provide a safe haven for your money, shielding it from market ups and downs. Your funds will be secure, regardless of what happens in the financial landscape.

 

Higher Interest Rates:

Currently, many financial institutions are offering competitive interest rates on Share Certificates. These rates are often higher than what you would earn in a regular savings account, allowing you to maximize your returns without taking on additional risks.

 

Diverse Term Options:

Share Certificates come with a variety of term options to suit your specific financial goals. Whether you prefer short-term investments or long-term planning, you can find a Share Certificate that aligns perfectly with your needs.

 

Flexible Terms for Optimal Control:

While Share Certificates are known for their fixed terms, some institutions offer flexible options. For example, you might find penalty-free early withdrawal or the ability to ladder your Share Certificates to take advantage of varying interest rates and maturity dates.

Reinforcing Financial Discipline: By committing your funds to a Share Certificate for a set period, you encourage financial discipline and discourage impulsive spending. This proactive approach to savings fosters a healthy financial mindset and encourages long-term planning.

Insured and Protected: Just like other deposit accounts, Share Certificates are usually insured by the National Credit Union Administration (NCUA) or the Federal Deposit Insurance Corporation (FDIC) up to a certain amount. This added layer of protection ensures the safety of your investment.

Conclusion: In conclusion, opening a Share Certificate is a wise and timely decision for securing your financial future. With guaranteed returns, protection against market volatility, and higher interest rates, Share Certificates offer an attractive investment option. Take advantage of the diverse term options and flexible terms to find the perfect fit for your financial goals. Embrace the opportunity to grow your savings with confidence and peace of mind. Open a Share Certificate today and pave the way for a financially rewarding tomorrow!

What Is a Certificate of Deposit And How Do They Work?

 

How CDs Work

In exchange for depositing your money into a bank for a fixed period (usually called the term or duration), the bank pays a fixed interest rate that’s typically higher than the rates offered on savings accounts. When the term is up (or when the CD matures), you get back the money you deposited (the principal) plus any interest that has accrued.

If you need to access your funds before the CD’s term ends, you are subject to an early withdrawal penalty, which can significantly reduce the interest you earned on the CD.

Tip: Before opening a CD, make sure you have an emergency fund—a comfortable amount of savings in an easily accessible account, such as a savings account.

 

How Terms, Minimum Balances and Rates Interact

CDs come in varying terms and may require different minimum balances. The rate you earn typically varies by the term and how much money is in the account. In general, the longer the term and the more money you deposit, the higher the rate you are offered. (A longer term does not necessarily require a larger minimum balance.)

 

Compounding interest: Interest Rate vs. APY

Like savings accounts, CDs earn compound interest—meaning that periodically, the interest you earn is added to your principal. Then that new total amount earns interest of its own, and so on.

Because of the compound interest, it is important to understand the difference between interest rate and annual percentage yield (APY). The interest rate represents the fixed interest rate you receive, while APY refers to the amount you earn in one year, taking compound interest into account.

 

Choosing the Right CD For You

There are a number of factors to consider when choosing a CD. First, when do you need the money? If you need it soon, consider a CD with a shorter term. But if you’re saving for something five years down the line, a CD with a longer term and higher rate may be more beneficial.

Also, consider the economic environment. If it seems that interest rates may rise, or if you want to open multiple CDs, CD laddering can be a good option.

 

Building a CD Ladder

Overall interest rates may change during your CD’s term. If rates rise, you miss out on earning those higher rates, since your money is committed for the CD’s term. However, if rates go down, you benefit: You still earn the higher rate that was offered when you opened the CD. CD laddering, buying multiple CDs of varying term lengths, can help address this concern.

It can also be a way for you to take advantage of longer terms (and therefore higher interest rates) while still giving you access to some of your money each year.

With a CD ladder, you divide your initial investment into equal parts and invest each portion in a CD that matures every year. For example, say Leo has $10,000. To build a CD ladder, he invests $2,000 each in a 1-year, 2-year, 3-year, 4-year and 5-year CD. As each CD matures, he reinvests the money at the current interest rate or uses the cash for another purpose. If Leo reinvests his money, he might choose a new 5-year CD, which would ensure he has one CD maturing each year as long as he continues laddering.

Combining CDs With Other Accounts

Be sure to consider other options for saving or investing your funds. Diverse accounts offer different levels of risk and return.  Learn about AGCU Loyalty CDs and get started today!

 

 

Employee Spotlight

Kim Purcell

Member Experience Team Lead

With AGCU 7 Years

The Queen

Married for 45 years, mother and grandmother of seven, Kim’s family calls her Queen!
She loves crafting, hanging out by the pool, and cheering at her grandchildren’s basketball games!

Kim was born in Oklahoma but grew up in Springfield. She is excited to learn more about her Eastern Shawnee Nation roots and talks about the tribe’s history and language.

Kim joined AGCU as the Independence Branch Team Lead, and like any proud mother, is more comfortable sharing stories about the accomplishments and teamwork growing within her departments than talking about her own success building towards those strong relationships.

 

What Does Banking With A Purpose Mean to You?

Building relationships with members.
Helping, teaching and sharing knowledge and experience.

 

What chore do you absolutely hate?

Folding laundry! Most tasks are relaxing and therapeutic, but laundry never stops!

What is the first concert you ever attended?

It was a festival with five or six bands, but I saw Peter Frampton and Styx.

 

Define Success

Success isn’t necessarily monetary.
It’s being happy where you are!

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AGCU Scholarship Recipients

 

SPRINGFIELD, Mo. –  We announced the recipients of our 2023 AGCU Scholarships Thursday, June 8 at the Annual Business Meeting held at Central Assembly.

Every year we award scholarships to a number of New Attitudes members who are graduating from high school and plan to attend an accredited college or university in the fall of their graduation year. It’s just our way of thanking our New Attitudes members who have chosen AGCU as their banking institution.  If you would like to learn if you or a loved one qualify for an AGCU Scholarship, contact your local branch!

Annalise Goodwin

$1000 Scholarship
Merrell K. Cooper Memorial Scholarship

Annalise is graduating as a homeschooled student in Grand Rapids, Michigan, and plans to attend Southeastern Assemblies of God University – Ohio campus as a media and design major. She is a member of Timothy Teams at Ohio Ministry Network Kids Camp and assists with children’s ministry for Africa missionary field conferences. Annalise designed her parents’ missionary prayer cards for their ministry in Africa. She is also active in her church serving as a greeter and member of the choir and orchestra.

 

Jackson Hayes

$4000 Scholarship

Jackson is graduating from New Covenant Academy in Springfield, Missouri, and plans to attend John Brown University as an electrical engineering major. He was accepted into the Missouri Boys State program and served on the House of Representatives in the program. Jackson is a member of National Honor Society.

Natalie Vaughn

$4000 Scholarship

Natalie is graduating from Hillcrest High School in Springfield, Missouri, and plans to attend John Brown University as a biology major. She is valedictorian of her class, student body president, and vice-president of National Honor Society. Natalie serves as an assistant pre-K teacher at her church and is actively involved with her youth group. She also volunteers with numerous community service projects.

Nathan Buller

$4000 Scholarship

Nathan is graduating from Bauxite High School in Bauxite, Arkansas, and plans to attend Southwestern Assemblies of God University as a digital media major. He is vice-president of Student Congress, a member of Future Business Leaders of America, and National Honor Society. Nathan has also been a member of the AV Tech/Media Team at his school and church.

Oliver Puccini

$4000 Scholarship

Oliver is graduating from Breck School in Golden Valley, Minnesota, and plans to attend the University of Notre Dame as an aerospace engineering major. He is a member of the Breck School Stampede Robotics team and writes for the school newspaper. Oliver is also a member of his school Bato Bato Marimba band and jazz orchestra. Additionally, he has been a mission team leader assisting a Ukrainian Refugee Center and tutors for the Neill Elementary’s Science Enrichment program.

Madeline Berkey

$4000 Scholarship

Madeline is graduating from Rosslyn Academy in Nairobi, Kenya, and plans to attend Trinity Bible College as a Children’s Ministry and Missions major. She is a National Honor Society member. Madeline is member of the women’s basketball and volleyball teams. She serves in the children’s program at her church, as well as a member of the Spiritual Life Committee at her school.

 

 

 

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU.
Learn More About Banking with a Purpose

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Wanna Know 7 Secrets for a Higher Credit Score?

Time to Read: 3 minutes

Having a good credit score can open doors to so many financial opportunities, like lower interest rates on auto loans, the chance to buy a house, and more credit opportunities. And while boosting your credit score may seem like a tough task, it’s doable if you know how to go about it. Here are some simple steps that can help you improve your credit score in no time!

Check Your Credit Report First!

Knowing the state of your credit score begins with checking your credit report, which is a record of your credit history that contains details about your credit accounts, payment history, and debts. You can get a free credit report from each of the three main credit bureaus (Equifax, Experian, and TransUnion) once a year. Give your report a careful look and dispute any errors you find with the credit bureau.

Always Make Timely Payments!

Your payment history is a big factor that impacts your credit score, so don’t be late or miss payments. According to Wells Fargo, payment history makes up 35% of your FICO credit score – that’s a big deal! So, it’s definitely a good idea to set up auto payments for your bills and work on paying off past debts to avoid future late payments.

Try and Cut Down on Credit Utilization

Your credit utilization, or the amount of credit you use compared to your credit limit, is another key factor that affects your credit score. Keep your utilization low (under 30% according to Experian) by paying off your credit card balances in full each month and only using your card when you need to. If you have high credit card balances, consider consolidating with a personal loan or balance transfer credit card.

Your Old Accounts Should Stay Open!

The longer your credit history, the better your credit score, so try to keep old credit accounts open and in good standing. According to CreditKarma, the age of your credit history generally accounts for 15% of your total credit scores. A good rule-of-thumb is to think twice before closing an old account, no matter what it is, because it could hurt your credit score if you’re not careful.

For example, many young adults these days begin their credit history when they take out student loans in their late teens/early 20s. If you are planning on paying off your student loans in a shorter period of time (less than 5 years), you may want to consider getting another line of credit going so that you don’t see your credit score drop suddenly (according to Transunion) once you pay off your longest credit history item.

Limit New Credit Apps

Every time you apply for new credit, like a personal loan or a vehicle loan, it shows up as a hard inquiry on your credit report, which can lower your credit score. While new credit apps only account for 10% of your FICO credit score, according to Bankrate, apply for credit when you need it and avoid opening too many new accounts in a short period of time.

Try Out a Secured Credit Card Option

If your credit score isn’t looking so good, a secured credit card can help big time. This type of card requires a cash deposit, which becomes your actual credit limit. Use the card responsibly by making on-time payments like you would with a regular credit card.

Make sure to follow standard principles, like keeping your utilization low, and over time you can build a good credit history and improve your score. This option definitely poses the least amount of risk to those who have poor spending habits!

Seek Help from a Credit Counselor

If you’re struggling with debt and your credit score is suffering, a credit counselor can help. They can help you create a budget, reduce debt, and improve your credit score. There are many reputable credit counseling agencies that offer free or low-cost services, so do your research and find one that works for you.

Keep a Healthy Debt-to-Income Ratio!

According to the Consumer Financial Protection Bureau, your debt-to-income ratio, or the amount of debt you have compared to your income, is another factor that affects your credit score. 

Keep your ratio low (According to Experian, many lenders prefer ratios below 36%) by reducing debt and increasing income, and consider consolidating your debt with a personal loan or balance transfer credit card.

Wrapping Up How to Boost Your Credit Score:

Great credit scores can open up a world of financial opportunities, from lower interest rates on loans to buying a house. But don’t worry, boosting your credit score is easier than it seems! 

Start by checking your credit report and disputing any errors. Making timely payments, reducing credit utilization, keeping old accounts open, limiting new credit apps, and getting a secured credit card can also help move the needle in the right direction.

If you’re struggling with debt, seek help from a credit counselor or keep a healthy debt-to-income ratio. So, take control of your finances and show your credit score who’s boss!