Spring 2018 member news

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A board perspective on our merger agreement

By Bill Murray, Chairman of the Board of Directors

Bill Murray

As you have heard, Denali’s Board of Directors has signed a merger partnership agreement with Nuvision Credit Union, a $1.6 billion credit union based in the Lower 48. This has been a long, deliberative process by the Denali Board to provide quality service to you, the member.

Since 2011, the Board has included strategic mergers as a part of our overall plan. Indeed, mergers have always been part of our growth strategies, as today’s Denali FCU is the result of numerous mergers over the years. Denali has spoken with credit unions both within and outside of Alaska, and this partnership with Nuvision is a tremendous step in the right direction for everyone involved.

"We couldn’t have been more pleased to find their culture and organization in alignment with ours."Bill Murray

Like us, Nuvision Credit Union is a solid credit union looking to expand in the best strategic way possible. They share our values and commitment to service, with top-notch leadership and a vision to deliver the very best to members. This merger will help members as we expand our regional footprint into new states, with great potential for continued growth.

Denali will have three seats on the combined credit union’s board of directors. We made sure the merger agreement included Denali Board representation because we believe it’s important to retain a voice for our members in the combined credit union. As our Boards discussed this agreement, we couldn’t have been more pleased to find their culture and organization in alignment with ours.

So, while this is a process that started many years ago in Board Strategic Planning meetings, it is a process which will continue over the coming months as we present merger plans to our federal regulator – the National Credit Union Administration (NCUA) – and to you. Once NCUA approves the merger, you will have a final vote on this merger. We will continue to keep you informed as this process moves forward, and we look forward to your support of this move because we believe it will build a stronger, better credit union for every member.

Please see our merger announcement news item and fact sheet for additional information regarding the proposed merger. Merger announcement »

Efficient service delivery to members

By Bob Teachworth, President & CEO

Bob Teachworth

As you know, Denali has initiated talks with Nuvision Credit Union on strategic merger discussions that will lead to a more efficient, member-centric credit union designed with your needs in mind. This merger will be a collaborative partnership in every sense — combining our staff, service, support and technology infrastructure to strengthen our credit union and bring more value to members.

We are excited about the opportunity to partner with Nuvision to build a stronger financial institution. We are at the beginning of a process that will take us into 2019, and we will dedicate all of our efforts to ensure top-quality service to you as an owner and a member of this cooperative.

"Denali is dedicated to ensure the most efficient service to members, and we know the tough decisions we make today will build a stronger credit union in the future."Bob Teachworth

As part of our continued development, Denali took a careful review of all branches in 2017 and into this year — examining deposit and loan levels at each branch, commute time to the nearest location, and the use of online/mobile banking and services by members — to develop the most efficient network for Denali and its members.

Between 2007 and 2016, Denali added 10 new locations as a strategy to grow deposit and loan transactions. However, the financial industry saw a shift in the use of non-branch transactions as mobile and online usage has increased. Denali certainly has seen this shift among our membership. Indeed, our research shows the total number of branch transactions from 2007 until 2017 hadn’t significantly grown, while online transactions have increased dramatically. Thus, we took the prudent step to reduce costs while still providing comprehensive service to members.

Denali’s restructured branch network continues to provide quality financial service to members. Indeed, new markets we have opened during the 2007-2016 growth period — Kenai, Eagle River, Kent, south and east Anchorage — will still have branches to serve our members.

Financial institutions across the nation are streamlining their branch networks. Bank of America, J.P. Morgan and Citigroup have all reduced their branch networks recently as consumers transition to other forms of transactions.

These decisions were made completely independent of merger considerations. Denali is dedicated to ensure the most efficient service to members, and we know the tough decisions we make today will build a stronger credit union in the future for membership and for Denali FCU.

Important dates

April 5-8
Great Alaska Sportsman Show

April 13-15    
Anchorage Home Builders Association Home Show

April 18         
Denali FCU Annual Meeting

April 19
Denali Home Loans Homebuyer Education Class

April 21
Kent Earth Day recycle event, Denali Community Counts Day

April 27-29
Kenai Peninsula Sports, Rec and Trade Show

April 27-May 30
Denali Community Counts Days, Anchorage Citywide Cleanup

May 28
All branches and offices closed for Memorial Day*

*Most transactions can be made 24 hours a day via mobile app, at www.denalifcu.org or by calling InTouch 24, our 24-hour Telephone Teller (907-257-7224 in Anchorage, 907-456-1937 in Fairbanks, and 800-764- 1123 option 2, from anywhere else in Alaska or the U. S.).

Annual meeting

April 18, 5:30 to 7 p.m.
Z.J. Loussac Library, Wilda Marston Theater
3600 Denali St. in Anchorage, across from the Denali Financial Center

Runner jumpingGet a 1.5% APY share certificate through April

Denali's special 15-month share certificate gives you a rate up to 30 times greater than our competitors*. Avoid the risks and uncertainty associated with stock markets, and get peace of mind with a share certificate from Denali.

  • 1.5% APY1
  • $500 minimum investment, no maximum
  • 15-month term
  • Available through April 30, 2018
  • Insured by NCUA up to $250,000

This offer is valid only through April 30, so start saving today. Visit any branch or call the Member Contact Center at 257-7200, option 3 or 800-764-1123, option 3 for details on the 15-month share certificate.

*Rate comparison is based on a survey of Alaska financial institutions conducted by Denali FCU on Feb. 13, 2018, including banks and credit unions. The lowest 12-month certificate rate in that survey is .05% APY.
1 Annual Percentage Yield (APY). The 15-month certificate will roll over to a share (S1) account at the end of the term. There may be a penalty for early withdrawal.

People in nursery gardenUse your Denali Debit Card and win up to $1,000

We’re giving away up to $3,000. Every time you use your Denali Visa® Debit Card, up to $1,000 of your day’s purchases may be free during Denali Days*.

* Denali will reimburse three winners up to $1,000 each. Prize maximum is $1,000 / $100 minimum. Promotion runs April 1 - May 31, 2018. No purchase necessary. Alternate entry form available at www.denalifcu.org. ATM withdrawals do not qualify for the promotion.

MobiMoney gives you secure card management

Protect and manage your Denali Visa® Credit or Debit Card at home or on the go with the MobiMoney. This free app is available on the Apple App Store or Google play for Android devices. From spending limits to transaction alerts, MobiMoney comes with card controls to help keep your money safe.

Other features and capabilities include:

  • Transaction alerts
  • Card on/off
  • Location controls
  • Receipt organization
  • Receipt organization

Children and robot illustrationCelebrate National Credit Union Youth Month

Denali is promoting the science of saving this spring in celebration of National Credit Union Youth Month. Kid Prospector's Club and Teen Power members are encouraged to visit their local branch with completed savings punch cards so they can be entered in a $50 drawing* through May.

*Must be a primary member on account at Denali. Youth member must be present at time of deposit, parents cannot make deposit on behalf of child. Members will be entered when they turn in their completed punch card, can only enter up to two times. Contest runs April 1 - May 31, 2018.

Denali Commercial Credit Card illustrationGet the business card that works for you

Save 50 percent off your annual fee when you sign up for our Business Visa® Credit Card. Submit this promotional card with your application for a Denali Visa Business Credit Card and receive half off your first year’s annual fee*. Applications can be found on our business card page.

*Offer valid April 1 - June 30, 2018. Fee after the first year will be an annual fee of $50. Actual savings $25.

Employees contribute more than 2,300 hours

Denali employees contributed more than 2,351 volunteer hours in our member communities in 2017. Many organizations and causes benefited from the generosity given by our staff. There are too many to list them all although we thought it important to share some of largest beneficiaries: 

  • Get Real Financial Reality Fair – 270 hrs.
  • Junior Achievement of Alaska – 228 hrs.
  • Alaska Society for HR Management – 210 hrs.
  • Girl Scouts of Alaska – 208 hrs.
  • Boy Scouts of America Troop 265 – 150 hrs.
  • Pop Warner Football & Cheer – 78 hrs.
  • Anchorage City-wide Clean-up – 75.5 hrs.
  • Food Bank of Alaska – 63 hrs.
  • Inspire – 52 hrs.
  • Kent Kiwanis – 50 hrs.
  • Relay for Life – 42 hrs.
  • Mabel T. Caverly Senior Center – 40 hrs.
  • Next Step – 40 hrs.

We invite both Denali employees and members to help with the following Denali Community Counts events:
April 21: Denali Community Counts Day – Kent Earth Day Recycle Event
April 27-May 30: Denali Community Counts Days – Anchorage Citywide Cleanup
For more information, see our Community Counts page.