Sunday, August 1, 2021
COVID-19 related updates
*SUBJECT TO CHANGE AT ANY TIME*
We greatly appreciate your compliance with the following guidelines:
- Do not visit the credit union if you have a fever, are feeling unwell, or have recently had a close contact test positive for Covid-19.
- Open Monday-Friday, 9AM-5PM, and Saturday mornings from 9AM to NOON
- Face masks are no longer required, but are available for members and staff upon request.
- Open normal hours
- Vehicle and pedestrian traffic is welcome.
Click here to learn about our wide range of remote banking options
Monday, June 21, 2021
The American Rescue Plan Act of 2021 made some significant but temporary changes to the Child Tax Credit. If you're a parent with a child under the age of 18, the amount you are eligible to receive from this credit is likely to increase and you could begin to see monthly deposits of several hundred dollars into your account starting in mid-July.
To learn more, click on the link below for answers to frequently asked questions about these changes.
KOFE Newsletter child tax credit.pdf
Wednesday, May 5, 2021
IMPORTANT UPDATE: As of May 5th, 2021 all remaining PPP loan funds have been exhausted and the current application period has been closed.
If you are a small business owner, sole proprietor, independent contractor, or self-employed individual and haven't looked into the SBA's Payroll Protection Program - you certainly should!
This generous federal stimulus program provides 2.5 months of payroll costs to small businesses in the form of a 100% forgivable SBA guaranteed loan. Self-employed individuals are considered "employees" of their businesses and may use their business' annual gross income as their "payroll costs" for the year.
You can access a top-line overview of the program here:
The following link will take you to the current application form:
We’ve helped dozens of local small businesses and self-employed individuals get their share of the nearly $800 billion which have been allocated for this program. Give us a call if you have questions or are interested in applying and we’ll be happy to help walk you through the process.
If you want to read more, there are FAQs and lots more information available at the link below:
The application period for this round of funding ends on May 31st or when the funding runs out – so don’t delay, apply today!
Monday, February 1, 2021
Alternatives to Lobby Business
Vermillion Federal Credit Union is all about community. We love to visit with our members whenever they stop by the branch. However, as you are surely aware, coronavirus has arrived in South Dakota and guidance from the CDC suggests social distancing is the most effective way individuals can help limit the impact of COVID-19.
Your credit union has long-established and robust plans in place to ensure your accounts remain secure and accessible during even very severe disasters and pandemics. To assist you in developing your own plans about how to limit face-to-face interactions when conducting routine banking activities, we've put together this brief list of remote alternatives to common lobby business and teller transactions.
· Check deposits – Use Remote Deposit Capture (deposits processed at 10AM and 4PM, Mon-Fri), or mail checks to us with deposit instructions
· Cash deposits – Deposit in night drop with deposit instructions
· Payroll deposits – Remote Deposit Capture, or set up direct deposit via ACH
· Cash withdrawals – ATMs (no-fee ATM locations), or get cashback w/ purchase
· Money orders – These can be mailed to member address on file
· Counter checks/ boxes of checks – Can be mailed
· Applications – Apply via Online Banking, our Mobile App, or website
· Loan payments – Mail a check, use night drop, or transfer from VFCU checking or savings (via Online Banking, Mobile App, or phone call)
· Form signing – Fax, mail, or secure email
· Account balances – Online Banking, Mobile App, or phone call during business hours
· Account activity – Online Banking, Mobile App, or phone call during business hours (printouts can be mailed)
· Card issues – Phone call to office or our after-hours card number (866-664-9364)
· Prepaid card reloads – Phone call during business hours
If any of these options are unfamiliar to you, you can find more information about all of them on our website or by giving us a call here at the branch at (605) 677-5214.
Monday, July 20, 2020
During the Covid-19 crisis many unsung heroes have gone the extra mile to keep our community functioning. Police, healthcare workers, teachers, grocery store employees, restaurant workers, and many others have had to find new ways to provide their essential services safely. This process has been exhausting and stressful. We know we can't thank everyone who deserves our gratitude, but we set aside $2,500 to allow us to give fifty of these individuals $50 each as a token of our appreciation.
We asked our community to nominate individuals and organizations whose diligence and hard work during these difficult times deserves recognition. By the time the nomination period closed on June 26th we'd received dozens of heartfelt stories of gratitude and admiration. It was hard to narrow the list down to just fifty gift recipients. In the end, we all agreed that the giveaway provided a wonderful opportunity to take a break from the frustration and worry of the Covid-19 crisis. It was welcome relief to focus on giving thanks to all those who work hard to keep us happy, healthy, and safe. Whenever we finally get to the end of this pandemic, it will be thanks to the selfless, cooperative spirit of community members like these.
Visit our Facebook page at https://www.facebook.com/pg/VermillionFCU/posts/ to see photos of all the gift recipients and read excerpts from their nominations!
Friday, January 24, 2020
The Credit Union Foundation of the Dakotas will award twenty $500 scholarships to credit union members in the Dakotas pursuing higher education!
Applicants must have been credit union members for at least one year and either be currently attending an accredited college, university, or technical/vocational school, or planning to enroll in the fall. Applications must be postmarked by March 31. Scholarship winners will be announced in May 2020.
Please download your scholarship form and follow the eligibility and application requirements. If you have any questions, please contact Lori Welder, Executive Director of the Credit Union Foundation of the Dakotas, at 701.250.3968 or firstname.lastname@example.org.
The South Dakota Retailers Association is also offering scholarships again this year. Last year the amounts awarded ranged from $2,250 to $3,000 per scholarship!
The SDRA scholarship defines a "retail/retail-related field of study" quite broadly for the purposes of eligibility. Accounting, Auto Mechanics, Computer Science, Culinary Arts, Heating/Ventilation, and Sales/Marketing Management are all listed as examples of eligible programs.
For more information, visit https://www.sdra.org/scholarships.html
Tuesday, January 14, 2020
Mobile wallet payments offer a secure and convenient alternative to plastic cards. As of today, you can now store your VFCU debit card in your Google Pay, Samsung Pay, or Apple Pay mobile wallet and use it anywhere these payments are accepted!
Friday, November 1, 2019
If your budget is looking a little tight this holiday season, consider applying for a Holiday Loan or signing up for our popular Holiday Skip-a-Payment program. This year, we're offering a special 6% APR on all approved Holiday Loans.
To qualify, loans must be written in November, December, or January and must be payed off before the end of December 2020. Also, if you already have a loan with us and have made at least six payments, you may be eligible to skip a payment in November, December, or January without penalty.
Additional information on both specials can be found here.
Monday, August 26, 2019
After receiving several reports of debit cards wearing out too quickly, we’ve arranged to begin replacing them with more durable stock. The new cards will look different and feel sturdier but not change in any other way. They’ll still be Mastercard debit cards and your card number won’t change. When your current card reaches its expiration date, you’ll receive one of the new ones in the mail at no charge. If you want or need to replace your card before then, just give us a call and we’ll order you one of the snazzy new ones for just $10!
Thank you to the members who let us know about their cracked cards and trouble swiping. We strive to provide only the best products and services to our members. Your feedback is how we know if we are meeting that goal.
Thursday, April 11, 2019
Our 2019 annual meeting was held at the Credit Union office at 4:00 PM on Wednesday, April 10th. If you weren't able to attend, you may be interested in checking out our 2018 Annual Report. In it you'll find reports on our finances, the minutes from our 2018 annual meeting, and our plans for the future.
Sadly (for those who couldn't attend), we ate all of the beautiful and delicious cake that Dulci Kickland made for the meeting - so all I can share of that is this photo:
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