Statement of Commitment

At Bellwood Federal Credit Union, members come first. We promise to offer honest, fair deals to every member, every time. We promise to treat every member with respect and dignity. We promise to strive to be a trusted financial advisor that our members can count on to assist them with achieving their financial dreams. We will continually demonstrate the value of membership in Bellwood Federal Credit Union. We will deliver a range of low cost products and services to the diverse economic and social makeup of our members and potential members. We will look for better ways to serve the needs of the undeserved portions of our members and potential member base.

We will communicate our services in a meaningful way so that members, potential members, legislators, regulators, and the community at large will understand and appreciate the unique role that we command as a Member-Owned, Not-For- Profit, Financial Cooperative.

We will emphasize programs that enable our members to become financially self-sufficient and successful. We will place a high importance on consumer education and the teaching of financial thrift.

This "Statement of Commitment to Members" is consistent with our credit union principle of Not-For-Profit, Not-Charity, But For Service and our philosophy of People Helping People. This statement represents good business practices that ensure the financial strength of our credit union on behalf of our members.

The following programs are designed to improve the economic and social well being of members and return financial value to them. We also offer the traditional services/products with competitive rates and terms with lower or no fees.

No cost checking accounts - These accounts have been available to our members for over 20 years and we have a 40% penetration of our entire membership.

Premier Financial, LLC - This is a credit union service organization formed to help members in their quest for financial independence through an investment program designed to supplement their credit union activity. Services may be through a representative or our web site. Formal financial plans are available at no cost to the member for formulation.

Credit Union Service Centers (Shared Branches) - These "remote" branches are locations throughout the United States that serve members of credit unions that belong to the network. Members can make deposits, cash checks, transfer funds, and many more services.

Extended Warranty Insurance - This insurance is sold to members with new and used vehicles for additional protection against mechanical breakdown. It is offered at a lower cost than other financial institutions and auto dealers.

Enterprise Car Sales - The credit union has partnered with this company to offer previously owned cars to our members at reasonable and no-haggle pricing. The company has locations through the United States.

Invitational Promotions, Incorporated - The credit union has partnered with this company to offer new vehicles to members. The promotions are held with local Richmond area new car dealers. The members are able to acquire new cars at a better cost with this cooperative venture.

Applications On-line - Members of the credit union are able to apply for both loans and membership on the credit union's website. On-line loan decision making is being investigated.

Home Banking - This service allows members to access their accounts through the credit union's website and make transactions through a secured setup. Features include most of the member information that currently is obtainable in the credit union office.

Visa Statements and Payments On-line - Members are able to receive Visa statements electronically (by choice) and make payments on-line through the Internet. This service is particularly helpful for our members who live outside the Richmond area.

E-Statements - Members have the ability to receive their regular monthly/quarterly credit union statement electronically. This is useful and beneficial to all members. Newsletters and other news can also be distributed via this delivery channel.

Youth and Teen accounts - These accounts are intended to target our younger members to assist them in their quest to reach financial security. It is important that they learn the proper way to use credit, manage their cash and invest for their future.

Senior Accounts - These accounts are intended to target our older members to assist them in handling their finances as they retire or plan for retirement. It is important that the credit union be available to these members when they begin their "golden years".

Bellwood Federal Credit Union is committed to member education and social responsibility, including providing financial education to members and potential members of all ages. This commitment is to enhance their lives as well as promote the credit union uniqueness, philosophy and values.

Internet Web Site - This delivery channel was developed and introduced to our members in 1998 and has undergone several changes and enhancements. With many of our members in other states, it is important that we remain convenient through technology. We continue to offer more services through our web site and want our members to consider it their portal to all types of Internet activity and e-commerce. We offer auto comparison and buying assistance, financial calculators, and brokerage services (Premier Financial, LLC in partnership with MICG Investment Management). The site also contains an educational site for members called "Home and Family Finance Online Resource Center".

Newsletter Articles - Our quarterly newsletter contains valuable educational articles for the whole family. We are committed to more newsletter education and less advertising of products and services.

Financial Counseling - We offer assistance to members concerned with their debt they are carrying. This assistance can help them work out a plan to avoid bankruptcy or legal action.

Employee Orientation - The credit union provides an orientation for new employees that emphasizes the uniqueness of credit unions compared to other types of financial service providers. All employees are encouraged to continue with ongoing training available from the Virginia Credit Union League and other related companies.

Enhanced Web Site - The credit union's website is an excellent vehicle for distributing educational material to members, potential members and the general public. We will continue to investigate new educational tools available to be included in our web site.

Member Seminars - We will investigate the possibility of providing free seminars for members and potential members on financial and investment opportunities. Premier Financial, LLC is available to conduct seminars relating to investment planning.

Bellwood Federal Credit Union will endeavor to preserve the credit union democratic principles, including demographic representation and volunteer participation in the organization.

Board Elections - Each year three board members are elected at the credit union's annual meeting. The Nominating Committee makes every effort to find and encourage qualified candidates who are willing to put the time and effort into serving and offering their expertise. Representatives for Select Employee Groups are encouraged to participate in the elections for the board or to be a volunteer on the various committees.

Campaign for Consumer Choice - The credit union has been active for many years in preserving the credit union ideal and more recently participated in the Campaign for Consumer Choice to have the Credit Union Membership Access Act passed by Congress. Though we were successful in this legislation, we continue to work with Congress and our state legislators to ensure that credit union membership and structure is not compromised by the banking lobby. Our President and officials visit both federal and state legislators, attend luncheons and events on their behalf, participate in letter writing campaigns and stay in touch with them to keep them up to date on credit union issues.

Bellwood Federal Credit Union will operate as a democratically controlled, member-owned cooperative by focusing management, staff, and volunteers on diversity in the leadership and staff of the credit union.

Board Representation - The Board of Directors continuously pursues and trains volunteer officials through involvement with various committee of the credit union. We have made a concerted effort to ensure that volunteers are representative of our membership.

Equal Employment Opportunity - The credit union actively seeks to fill vacancies by hiring qualified candidates with regard to race, sex, color, religion, national origin, disability or any other basis protected by law.

Member Market Segmentation - Realizing that our members reside in various locations throughout the state and country, the credit union makes every effort to offer services that will benefit the different segments of our membership. Many products and services are flexible to accommodate all groups and others are designed with specific groups in mind, such as youth accounts. It is our practice to offer services that will benefit the majority of our membership and not expect a larger portion of the membership to bear the expense of products or services that only a small portion may access or use.

Bellwood Federal Credit Union will work to build and strengthen the unique credit union movement by providing financial and in-kind resources throughout the credit union community, and by actively advocating the credit union difference at all levels of government and public forums.

Political Activity - The credit union's management, staff and officials work in political campaigns, donating time, money, and supporting events to those who support credit unions. The official family (volunteers and staff) also contributes to the political action committee and solicits contributions from members. For the past three years, the credit union has been the second highest contributor towards the Virginia Credit Union Political Action Committee (VACUPAC) in the Richmond Chapter. Much of this is due to the generous financial support of our members, officials and staff in cash donations as well as purchases of candy, cookbooks, and bears.

Leadership Roles - The credit union official family serves on boards and committees for credit union related organizations, such as the Virginia Credit Union League and Richmond Chapter of Credit Unions.

Continuing Education for Officials and Staff - The credit union pays for continuing education for employees and officials to further their knowledge of the credit union movement.

National Brand Campaign - The credit union incorporates the "Where People Are Worth More Than Money" national brand logo on all materials to heighten member awareness of America's credit unions.

Letters to the Editor - The credit union responds to local newspaper articles to point out the differences in credit unions and how they make a difference in the lives of consumers.

Shared Branching - The credit union belongs to the Credit Union Service Centers that allows numerous credit unions to cooperatively share branch locations throughout the country where members can perform financial transactions.

Bellwood Federal Credit Union will strive to be an active partner in the community to enhance the economic and social well-being of its members as well as citizens in the area. Each year the credit union allocates a portion of its budget to support many organizations in our community, including but not limited to the following: