HOLIDAY
MARTIN LUTHER KING DAY
The credit union will be closed on Monday
Jan 19, 2009.

      IMPORTANT NOTICE REGARDING
           YOUR DIRECT DEPOSITS
Loudoun Credit Union (LCU) takes pride in being a financially sound, healthy and well-capitalized financial institution.  As part of sound financial management, the Credit Union periodically performs risk assessments on operations.

It is important to note that since the beginning of 2008 through December 12, 2008, there have been a total of 25 bank failures.  Based on the current financial crisis taking place throughout the banking industry, the credit union finds it necessary to delay the posting of ACH deposits (i.e. direct deposits) until the actual effective date.

For example:  If you get paid by Loudoun County Government and your normal pay date (effective date) is Thursday, then your direct deposit will start posting on that Thursday, rather than anearly posting that you are accustomed to, on Wednesday. 

If you are unsure of your actual effective date of your payroll, please refer to your paystub that is provided to you by your employer.

This is necessary due to systemic risk, which means that the financial institution that sends us your direct deposit may not be able to meet its financial obiligation due to failure, and direct deposits are recalled.  LCU's goal is to protect members' funds; therefore, it is the Board's decision to take this prudent action.  This new policy will become effective on January 15, 2008.

EFFECTIVE JANUARY 1, 2009 - Money Orders will increase to $1.25 each.

VOLUNTEERS WANTED
LCU is searching for members to serve on the Board of Directors.  Applicants must be able to dedicate up to 3 hours each month to make decisions and recommendation based on the best interest of the credit union.  For a description of responsibilities, click this link or contact a member of the Nominating Committee:  

Darrin Myers
Marantha Edwards
Robert Hanshew

ANNUAL MEMBERSHIP MEETING
March 25, 2009
4:00 PM
Town of Leesburg, Town Hall Mtg. Room