News and Press Releases
Save To Win Interview at KMAS with Jim Morrell and Congressman Kilmer
Peninsula Credit Union was joined by Congressman Derek Kilmer on Monday, March 31 to help launch "Save to Win" a savings account that features cash drawings. On Friday, April 4th, he joined CEO Jim Morrell by telephone at KMAS to speak about the benefits of the account.
You can listen to the interview here:
To learn more about Save To Win follow the link below:
The Peninsula Education Grant Program (PEG) offers charitable grants to fund programs, materials, and related resource needs for educators to assist in providing learning and growing opportunities for their students.
Grants are available to educators in all primary or secondary classes for both public and accredited private schools within Mason, Kitsap, Jefferson, Clallam and Grays Harbor Counties. The grant amounts will be awarded between $300.00 - $500.00 for implementation of new programs, continuation of existing programs, materials, equipment, or supplies. Applications have been made available to school districts as well as in our branches.
National Financial Wellness Month Interview at KMAS
As part National Financial Wellness Month, Peninsula CU President/CEO Jim Morrell spoke about the importance of starting healthy savings habits early. One of our Scottie Savers Hannah, joined Jim on the air to talk about what she likes to save for.
Listen to the interview here:
To learn more about Scottie Savers, follow the link below.
Franklin Delano Roosevelt signed the Credit Union Act in 1934 enabling consumers to form not-for-profit, cooperative financial institutions of their own. The desire then - and now - was to allow members to focus on the needs of their families, not the needs of bank stockholders. Credit Unions give consumers a choice and keep banks in check with our lower fees and higher savings rates.
Unfortunately, the big banks and some in Congress want to raise taxes and impose new fees on 96 million credit union members who represent 40% of all Americans, yet represent only 6% of the assets in financial institutions. And, they want to do this despite the fact that credit unions are not-for-profit and meeting their core mission every day.
That’s wrong and will imperil the credit union movement that so many have come to depend on for real financial choice.
Don’t let Congress raise taxes on 96 million credit union members. Don’t let Congress eliminate real financial choice. Don’t let Congress destroy our credit unions.
Find out more and find links to contact your legislators at donttaxmycreditunion.org
2013 Forest Festival Parade - We Are Family!
Staff, family, friends and members of Peninsula Credit Union had a blast marching along and waving our foam fingers. As demonstrated in the video, little things can grow into something great when we work together. The credit union philosophy at its best!
Money Matters: Making it Stretch
Free Quick Tip Workshops June 19th
Whether you’re just starting out, ready to retire, or simply looking for more financial management tips – we’ve got something for you. Join us for one or all of our 45-minute workshops on June 19th, and browse the resource fair. Details are listed below.
June 19, 2013
Kitsap Conference Center
100 Washington Avenue
Each of the following workshops will be offered eight times throughout the day. No need to register, simply attend the workshops that best meet your needs.
- Psychology of Spending and Budgeting
- How Money Management Affects Your Credit Score
- Surviving a Financial Crisis
- Collections and Debt Repayment
Schedule:A resource Fair featuring vendor booths and free information will be open all day.
11:00am – Doors and Resource Fair Open
11:15am to 12:00pm – Workshops
12:00pm to 12:15pm – Break
12:15pm to 1:00pm – Workshops
1:00pm to 1:15pm – Break
1:15pm to 2:00pm – Workshops
2:00pm to 2:15pm – Break
2:15pm to 3:00pm – Workshops
3:00pm to 3:15pm – Break
3:15pm to 4:00pm – Workshops
4:00pm to 4:15pm – Break
4:15pm to 5:00pm – Workshops
5:00pm to 5:15pm – Break
5:15pm to 6:00pm – Workshops
6:00pm to 6:15pm – Break
6:15pm to 7:00pm – Workshops
Shari Storm Speaks to Businesses in Shelton
On Wednesday, April 10, 2013 Shari Storm gave a talk at the Johns Prairie Auditorium in Shelton, Washington. Her audience consisted of the local business community and staff members from Peninsula Credit Union, Hood Canal Communications and Our Community Credit Union. They were in attendance to hear her commentary and advice regarding mothers in the workforce, management issues and using the skills that parenthood teaches us to do our jobs better.
Her approach was a mix of humorous stories, analogies and thoughtful insights garnered from over 60 interviews and her own observations. In addition to her stories, she described effective ways of sharing difficult information (give people time to absorb), how to insert fun into the workplace (let younger people take the reins) and understanding differences in work habits (we thrive while doing what we like to do most.)
Peninsula Credit Union, Hood Canal Communications, and Our Community Credit Union teamed up to offer the community the free presentation in an effort to promote career enhancement as well as to demonstrate what is possible when businesses work together. To find out more about Shari or to order a copy of her book “Motherhood is the New MBA: Using Your Parenting Skills to be a Better Boss” follow the attached link. www.sharistorm.com
Sequester Victims Hear Words of Support
FAIRGROUNDS — Defense workers received varied support Tuesday, with a rally at a shipyard gate in the afternoon and town hall meeting in the evening.
A credit union-led event at Presidents Hall helped ease fears of some of the 13,700 local civilian defense employees faced with losing 20 percent of their pay because Congress can’t agree on a deficit-reduction plan.
Furloughs were planned to begin April 26, but required 30-day notices were delayed two weeks to assess implications after Congress passed a new continuing resolution. There’s been no announcement on how lawmakers will proceed.
The resolution added $4 billion for Navy operations and maintenance, but it’s still more than $4 billion short through September because of the sequester, Capt. Steve Williamson, Puget Sound Naval Shipyard and Intermediate Maintenance Facility commander, told workers in an update Tuesday.
Chief Executive Officers Jim Morrell of Peninsula Credit Union, Elliot Gregg of Kitsap Credit Union and Scott Prior of Connection Credit Union said they have been hearing concerns from members about how the credit unions will handle the pay cuts. The CEOs combined forces and decided a town hall meeting would be the most effective, least intimidating response.
“We had two primary goals: to give people hope and resources to be able to navigate the situation,” Morrell told about 150 guests.
Don’t wait if you’re having financial trouble, Gregg said.
“Talk to us first, share your situation and depend on us to help you,” he said.
“We came together because we are cooperative and we cooperate,” Prior said. “You are our members; and as our members, you are our owners. We work in your best interest, always. If it benefits you, it benefits us.”
U.S. Rep. Derek Kilmer, D-Gig Harbor, spoke, saying the sequester, with its indiscriminate, across-the-board cuts, is “dumb” and urged the crowd to use him as a resource. He’s working with the Department of Defense to prevent workers from losing security clearances because of financial problems.
More than a dozen other “community partners” were invited to set up booths Tuesday and market services, from food banks to mental health options to massages. Costco of Silverdale provided food and said it will have some part-time jobs for those affected by the sequester, said JeanMarie Harmon.
Donna Poole, of Kitsap Mental Health, said the biggest threat to a person’s financial security is health and gave tips on how to take care of oneself during stressful times.
“It’s your job to seek help. People aren’t mind readers,” she said. “Blaming others or yourself isn’t beneficial. As much as we might want to blame Congress, it’s not useful.”
“Control what you can control and let go of what you can’t,” she said.
And, summing up, “If tense, breathe and drink water. It’s a miracle.”
The credit unions encouraged guests to take advantage of an entire calendar of financial education classes they offer.
Some in attendance said they just wanted to be prepared.
“Just getting the information and knowing what’s out there,” said Jeff Lewis, a PSNS worker from East Bremerton. “I’ve worked for the shipyard for 30 years and all of a sudden they’re saying we’re going to be furloughed 22 days. That’s going to hurt.”
“Trying to be extra prepared because my wife has medical issues that are bogging our finances down,” said Randy Roberts, a shipyard worker from Bremerton. “I came to get reassurance and hope out of it, and that’s what I did. Just knowing the credit unions care about it, the resource partners care about it and they’re not going to just leave us out in the cold.”
“Just trying to be proactive so it’s not so scary,” said Bonny Ewert, of Tracyton, a DOD worker in Silverdale. “It’s nice to know just how many resources there are.”
Earlier in the day at the shipyard’s main gate, 10 supporters hoisted signs and urged workers to call their lawmakers.
“Cut Loopholes Not Jobs,” “29,000 DOD Employees Furloughed in WA” and “Jobs Not Partisanship,” the signs read.
Mary Jaffe, a retired teacher from Port Orchard, organized the event.
“These people need to get motivated to get their message told,” she said. “They all have their own (hardship) stories. Congress needs to hear the details.”
The supporters offered contact information for local members of Congress and leadership. Some workers accepted it. Some said thanks. Some smiled. Many just walked on by.
“That’s who to call, and call ’em often,” one demonstrator hollered.
“While they’re on vacation?” a woman asked.
“You guys are doing your job, make Congress do theirs,” chanted another.
“When you figure that out, let me know,” a worker replied.
Another said something about placing a steel toe somewhere.
Surviving Sequestration: a Community Town Hall
The news has been abuzz about the likelihood of furloughs for most local civilian defense workers. If implemented, employees will take one unpaid day off per week for 22 weeks, which could result in a 20% or more reduction in annual income.
With nearly 16,000 local civilian defense employees, the ripple effect could impact our entire community.
It’s never too early to start planning for this, or any personal financial change. We have a special event to help.
You’re invited to attend a FREE event
Surviving Sequestration: a Community Town Hall
Tuesday, March 26, 2013
Kitsap County Fairgrounds
Doors open at 5:00 p.m.
Presentation to start at 6:00 p.m.
The event will feature speakers and a resource fair to help you think proactively about your household scenario as it may be impacted by this particular situation. You’ll walk away with tools to help you with a variety of financial, physical, and emotional needs during times of financial change.
This is event is brought to you as collaborative effort between Connection Credit Union, Kitsap Credit Union, and Peninsula Community Federal Credit Union. Credit Unions - - we’re here to help.
Hurricane Sandy Relief Opportunity
We have all been stricken by the loss and ongoing struggle of the victims of Hurricane Sandy on the east coast. As people work together to dig out from the devastation, it is imperative that they are able to access financial services. That is why Peninsula Credit Union has chosen to donate to CUAid which is the national online giving center for credit unions.
All contributions are directed to the National Credit Union Foundation (NCUF) Disaster Relief Fund. 100% of all donations made to the Foundation’s Disaster Relief Fund are disbursed through credit union leagues and their state foundations. The money will enable credit unions to re-open their doors and provide critical financial services and resources to their members and communities they serve to help them rebuild their lives and provide for their families.
“Credit Unions support their communities and when devastation hits, reach out to those communities too.” said Jim Morrell, President/CEO, Peninsula Credit Union. “One of our staff members saw this opportunity to donate through CUAid as one way we could live out the ‘people-helping-people’ philosophy that we are all about.”
The donations will be used to ensure that the credit unions are able to function and will also provide humanitarian aid to the credit union and league staff in the affected communities, in short, where it will be needed most.
- As 11/12/12, CUAID has raised over $140,000 to help credit union people affected by Hurricane Sandy
- They have received donations of $10 to $10,000 from hundreds of credit unions, credit union staff and members across the country
You can listen to a KMAS interview with Peninsula Credit Union President/CEO, Jim Morrell updating CUAid Efforts on Nov. 13, 2012
Updates on the Foundation’s Disaster Relief Fund can be found at www.cuaid.coop.
Temporary Unlimited Coverage on Noninterest-bearing Transaction Accounts Expiring December 31, 2012.
The Dodd-Frank Wall Street Reform and Consumer Protection Act, provided that, on a temporary basis through December 31, 2012, the amount held in a noninterest-bearing transaction account by any member or depositor is fully insured. This unlimited coverage was separate from, and in addition to, the coverage provided to members with respect to other accounts held at an insured credit union. The NCUSIF (National Credit Union Share Insurance Fund) provides all members of federally insured Credit Unions with $250,000 in coverage for their individual accounts . Please contact the Credit Union should you have any questions about your share insurance coverage or visit www.ncua.gov/DataApps/Pages/SI-NCUA.aspx.
Peninsula Credit Union’s Chalcy Blake is Selected to 2012, 40 Under Forty Honor
The Kitsap Peninsula Business Journal every year recognizes outstanding young business leaders on the Kitsap Peninsula, including Mason County. 40 individuals are recognized for the contributions they have made within their fields. They have spotted opportunities, sometimes problems and acted vigorously upon them – all before their fortieth birthday.
Earlier this afternoon, we received notification that Chalcy Blake is one of the individuals receiving recognition as a “2012 40 Under Forty”!
Chalcy Blake has been employed by Peninsula Credit Union the past 18 years. She was first hired as a Member Service Representative in our largest branch and was quickly promoted to “Assistant Branch Manager”. For the past twelve years, she has held the title of Branch Manager, Branch and Call Center Manager and most recently, eServices Manager. She is a champion at coaching her team to meet sales and service goals, maintaining high levels of customer service and making sure her employees follow all required compliance and regulatory policies and procedures when transacting business.
Over the years, Chalcy has developed her leadership, coaching and teamwork skills and developed a strong sales and service team that is crucial for the success of a financial institution. She has proven her ability to be flexible; she turns challenges into growth opportunities and leads others by her positive example of accepting and adapting to change.
Chalcy will receive her award October 18, 2012 at a special award reception at the Kiana Lodge in Poulsbo.
On behalf of the entire staff and members of Peninsula Credit Union, congratulations Chalcy!
KMAS Interview with Jim Morrell
On Thursday, September 6, 2012, Peninsula Credit President, Jim Morrell was a guest on the "DAYBREAK" WITH JEFF AND DALE, radio program on KMAS. We would like to thank KMAS for the opportunity to inform their listeners of some what Peninsula Credit Union is doing in our communities.
To listen to the interview, click here.
Peninsula Credit Union Managers in the Community
Credit Union Managers are often very busy people. In addition to scheduling, managing staff and fulfilling the requirements of a credit union manager, the nature of their position keeps them present in their communities. Peninsula Credit Union is proud to announce two appointments of their managers who are great team leaders both professionally as well as through public service.
Jen Owens, the Manager of the Shelton Branch has recently accepted a position on the Shelton Mason Chamber of Commerce Board of Trustees that begins August, 2012. She plans to spend her time representing the needs of downtown Shelton businesses as well as the interests of her staff and members.
Diana Kenyon, the Manager of the Port Townsend Branch of Peninsula Credit Union has recently been appointed to a two year term as the Treasurer for Soroptimist International. They are a worldwide organization for women in management and professions working through service projects to advance human rights and the status of women. "Soroptimist" was crafted from two Latin words, soror and optimus. Soror means sister; optimus, the best.
Peninsula Credit Union is proud to include two community leaders within their staff who are reaching into their communities, volunteering their service, time and talents.
Relay for Life Remains a Priority for Peninsula Credit Union
Relay for Life is the signature fundraising event of the American Cancer Society and is celebrating its 12th year in Shelton - 13th year in Mason County. Peninsula Credit Union has been a Gold sponsor for the past seven years. The dollars earned through team and individual fundraising efforts help the American Cancer Society fight cancer by fueling groundbreaking cancer research, providing up-to-date prevention and early detection information, advocating for cancer issues at state and federal levels and improving the quality of life for cancer patients and their families. The 2012 Relay for Life of Shelton has raised over $98,000 this year.
Peninsula Credit Union’s RFL team fundraises year-round with several different types of fundraising which includes participation from their RFL staff as well as Peninsula CU members. Some of the fundraising they do includes: Jeans Day, Bake Sales, Purse Auctions, Baked Potato Bar, Kettle Corn Sales, Mothers Day Baskets, Ice Cream Socials, Garage Sales, and several chance drawings at the Relay track itself.
In 2012 they registered 22 team members have raised over $5800.00 in the fight against cancer. The Peninsula Credit Union Team was in the “Top 10” fundraising teams, out of 43 teams registered, receiving “Gold Level Fundraising Recognition”.
Peninsula Credit Union Supports the United Way Day of Caring
Staff from Peninsula Credit Union joined in their local communities working together during the Mason County United Way Day of Caring, held on Thursday, June 21st, 2012. They participated in projects for various United Way and local governmental agencies and were part of over 150 community volunteers in the Shelton and Belfair communities.
Peninsula Credit Union encouraged staff to participate and complete three different projects on the Day of Caring, including gardening, window washing and cleaning at the Senior Services Center, weeding and clean-up at the Mason County Homeless Shelter and planting flowers at the two entrances to the downtown area of Shelton.
Additionally, Peninsula Credit Union hosted a continental breakfast for over 80 people to kick off the event at the park that morning prior to heading out to the various projects. Peninsula credit union applauds and supports their staff who participated in this worthwhile effort.
Beware of Skimming Fraud
Recently, there has been an increased rate of debit card fraud, in particular "skimming at self serve gas pumps". Skimming has been described as one of the most significant problems facing the credit card industry, as it can happen anywhere a credit card is accepted. The best way for consumers to protect themselves from skimming is by paying attention to the details of credit card usage. When a credit card is skimmed, data on the card, including the account number, is electronically transmitted or stored. The credit card information can then be encoded onto a lost, stolen, or counterfeit credit card and used anywhere in the world. Since there are legitimate uses for many of the devices used to read or skim credit cards, paying attention to where you use your credit cards can also help prevent fraud.
Peninsula Credit Union Names Jim Morrell as New President / CEO
The Board of Directors of Peninsula Credit Union is pleased to announce the selection of Jim Morrell as their new President / CEO. Mr. Morrell brings over 20 years of financial experience to Peninsula CU, including 17 years working in the credit union industry.His most recent position was that of Senior Vice-President, Support Services at iQ Credit Union in Vancouver, Washington where he has worked for the last 14 years. He will be replacing outgoing CEO, Steve Gorseth, who will be retiring in June of this year.
Jim Morrell brings a strong background in finance. He holds a Master of Management Degree from the Atkinson Graduate School of Management at Willamette University in Salem, Oregon, and a Bachelor of Arts in Economics from Pacific Lutheran University in Tacoma, Washington. He has been recognized as “2010 Distinguished Credit Union Professional of the Year” by the Washington Credit Union League, and the “2008 Information Technology Executive of the Year” by Credit Union Times.Jim has served on the Northwest Credit Union Association’s Future Leaders Task Force and the Washington Model CU Act Sub-Committee. Jim is a former participant of the Filene Research Institute’s i3 Group, a team that focuses on innovations for the credit union industry.He is past-Chairman and a member of the Credit Union National Association Technology Council, a leading voice of technology for the credit union industry. Other involvement includes the Client Advisory Council for Online Resources and Symitar’s Operations Council.
Jim Morrell joins Peninsula CU at an exciting time. In the past six years, Peninsula CU has seen substantial growth, has opened two new branches and will soon be broadening the access of their membership with the addition of shared branching. Peninsula CU has been listening, serving, and educating their members since 1935 and has five branches with assets of $150 million and approximately 20,000 members in the West Puget Sound area. When asked about what the future holds for the credit union, Mr. Morrell said, "Along with the tremendous staff at Peninsula CU, I look forward to the opportunities to serve our members and the communities across the Olympic Peninsula as the financial advisors people look for in a trusted financial institution."
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