QUARTERLY NEWSLETTER FOR VIRGINIA CREDIT UNION MEMBERS                        January 2008

Here's what you'll find in this issue:

New branches planned for 2008
A priority for your credit union in 2008 and upcoming years is enhancing
service through expanded branches and ATMs.

Fredericksburg area – This spring a new branch will open at Cosner’s Corner, near the Spotsylvania exit of I-95. This office is replacing the Stafford branch, which closed on December 28, 2007. More members will be able to benefit from a branch at the new location.

Another new office will open this summer in Fredericksburg at the Celebrate Virginia South complex near Central Park. This larger branch, with multiple drive-up tellers and ATMs, will replace our current office at 2101 Plank Road.

Richmond’s East End – A branch at the intersection of Laburnum Avenue and Eubank Road is targeted to open by the end of 2008.

Watch for details later this year about plans for other new branches and ATMs.

Join us at the 2008 Annual Meeting in Williamsburg
As a member, you’re an owner of your credit union. The Annual Meeting is your opportunity to learn more about your credit union and to elect your Board of Directors. You can learn about the nominees in the next article. Qualified members attending the business meeting are also eligible for door prizes, including cash deposits.

To make your reservation, use the reservation form or call Member Services by March 28. Dinner is $10 per person. There is no charge to attend the business meeting and social time.

Meet Your Board Nominees
The Nominating Committee is pleased to announce the following nominees for three expiring positions on your Virginia Credit Union Board of Directors. These candidates for four-year terms on the Board will be presented by the Nominating Committee and voted on by members at the Annual Meeting on April 5, 2008.

Ray C. Goodwin

Virginia Credit Union Member Since: 1977

Credit Union/Related Experience: 21 years on the Virginia Credit Union Board of Directors. Current and past Chairman of the Board.

Employment: Owner of Goodwin and Associates, providing consulting assistance with health and human services. Retired from the Virginia Department of Social Services after 26 years of service. Was Deputy Commissioner and also served as Acting Commissioner for the Department of Social Services. In addition, retired as a Colonel from the Virginia Army National Guard after 35 years of service.

Education: Randolph Macon College, B.A. in Sociology; Virginia Commonwealth University, M.S. in Social Work

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Neila L. Gunter

Virginia Credit Union Member Since: 1980

Credit Union/Related Experience: 23 years on the Virginia Credit Union Board of Directors. Past Chairman of the Board. Prior to the Board, chaired
the Supervisory Committee and was a Committee member for five years.

Employment: Senior Human Resource Director for the Virginia Department of Mental Health, Mental Retardation, and Substance Abuse Services. Previously
held other human resources positions for the Commonwealth of Virginia.

Education: American University, B.S. in Business Administration; Virginia Commonwealth University, Master of Public Administration, Executive Leadership

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Margaret E. (Marge) White

Virginia Credit Union Member Since: 1992

Credit Union/Related Experience: Six years on the Virginia Credit Union Board of Directors. Currently serves on the Board Executive and Ad Hoc Human Resources Committees.

Employment: Deputy Director, Virginia Tobacco Settlement Foundation.
Previous positions include Human Services Program Coordinator, Virginia Department of Health, and Health Educator, Richmond City Health District.

Education: Central Michigan University, B.S. in Education; University of Phoenix, M.A. in Organizational Management

Financial tips for the new year
Ring in a money-savvy 2008

For assistance with budgeting and money management, call the BALANCE counselors toll free at (888) 456-2227. BALANCE is a free financial fitness program available to Virginia Credit Union members.

BalanceTrack Online Personal Finance Education
Take advantage of BalanceTrack, the new online personal finance education programs on our web site. Through these short modules, you can review the basic elements of personal finance and take a quiz at the end to test your knowledge. These programs are helpful to adults and teens.

Topics include:

$62,500 in scholarships to be awarded
Application deadline is March 31, 2008
In June your credit union will award a $2,500 college scholarship to 25 student members working toward their first undergraduate degree. To apply for a scholarship, a student must have joined Virginia Credit Union by September 29, 2007 and have his or her own credit union account.

The student must be a graduating high school senior or equivalent, or a college freshman, sophomore, junior or senior taking at least nine credit hours per semester at an accredited college or university during the 2008-2009 academic year.

Get more information and a scholarship application online or call Member Services. Applications and transcripts must be received at the credit union by the close of business on March 31, 2008.

Tax resources for members
Get your tax refund faster
Have your refund deposited directly into your VACU account. In the refund section of your tax form:

Start at the left side of the form and include any leading zeros needed for your 10-digit account number. For checking, use the number at the bottom center of your personal checks. If you have a 12-digit account number on your checks, remove the first two zeros. For savings, call us for the correct account number format.

Tax service discounts for VACU members
TurboTax^® Online^SM – VACU members receive a 10% discount off the standard purchase price of the TurboTax Online Federal Deluxe program. When you prepare and file your return online, you can get your refund in as little as nine days.

Jackson Hewitt – Receive a $25 member discount on tax preparation. Jackson Hewitt offers a national network of tax offices to help you file your tax returns.

Peoples Income Tax – Save 20% on tax preparation and electronic filing.
Print a discount coupon from VACU’s web site. For a list of locations, call Peoples Income Tax at (804) 204-1040 or (800) 984-1040.

Learn more at our Discounts page.

Small loans, big difference
Did you know that small loans and lines of credit are available at your credit union to meet emergency and other needs? When you need a loan, avoid higher-rate lenders and check out options at Virginia Credit Union first.

Keeping it in the family
At your credit union, you’re a member and an owner. Virginia Credit Union is a not-for-profit financial cooperative, so members reap the benefits—not outside stockholders like at a bank. Credit union earnings are returned to the membership through attractive rates, lower fees and helpful services.

When you and your family use your credit union for your accounts and loans, you contribute to its success—which in turn enables your credit union to do more for you, the members. Thank you for your business and please let us know how we can help you.

VACU employees give back to the community
In 2007 your Virginia Credit Union employees raised money to benefit Children’s Miracle Network and the YMCA. They volunteered with Special Olympics, MCV Hospitality House, and Relay for Life, among others. They also sent care packages to troops overseas and contributed to holiday dinners for area families.

Personal loans that meet your needs
Rates as low as 8.74% APR*
Do you need to borrow for bill consolidation, medical expenses, home needs, taxes or other reasons? At your credit union you’ll benefit from a low rate and a fixed monthly payment that’s easy on your budget. Apply today online or by phone, 24 hours a day.

* Rate as of 12/15/07. Your personal rate is based on factors such as your credit history and loan terms. Payment examples based on 8.74% APR for 30 months with automatic payments. Other loan amounts available. Call for current rates and other terms or visit www.vacu.org.

8 Ways to Save More for Retirement
A message from the MEMBERS Financial Services Program

For a no-cost, no-obligation appointment, call the MEMBERS Financial Services Representatives located at Virginia Credit Union. They are knowledgeable about state and other employer retirement plans and how best to complement those plans.

(804) 560-5643, ext. 5643 or (800) 285-5051, ext. 5643

State employees, need help with your PLOP?
If you are a state employee planning to retire soon, did you know your Partial Lump Sum Option (PLOP) can be rolled into an IRA? Call the MEMBERS Financial Services Representatives for help with understanding your choices.

Representatives are registered through, securities are sold, and
investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free 866-512-6109. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value, and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. FR120707-6B78

Inactive fee reminder
To benefit from credit union services now and in the future, please keep your accounts active and in good standing. Remember that a $5 monthly inactive fee applies if you have not initiated any financial transactions on any of your accounts for one year or more, and your total share balance is less than $100. Members under age 21 and members with active loans are excluded from this fee. Inactive memberships are closed after the inactive fee is deducted from the $5 Member Share account.

Here are some ways to avoid incurring inactive account fees:

Please let us know how we can help you.

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