A Message from our CEO on Recent Bank Failures

To Our Valued Members,

I hope you are enjoying the warmer weather and welcome the arrival of spring as much as I do. It is somewhat surprising that we already find ourselves in the second quarter of 2023. We have been busy over the past 90 days in proactively responding to the present dynamic market environment as well as making progress against our strategic priorities for the year, which are always focused on enhancing the service, convenience and value that we deliver to you.

I want to again address the recent failures of Silicon Valley and Signature Banks and reassure you of Delta Community’s strong financial position and conservative business practices. Many of you are aware of the commentary that I prepared and published to our website on March 13, which was the first business day after the failures occurred.

Here are key points to know as member-owners of our organization:

• Our business philosophy and approach are different. Delta Community operates as a not-for-profit, member-owned cooperative. We are in business solely to provide members better support and pricing on the essential banking services needed to manage routine household expenses and save for the future. Although we must always be responsible stewards of the Credit Union’s financial resources, we are not conflicted with generating the high returns as Wall Street expects from for-profit businesses each quarter. We therefore have less pressure or incentive to engage in high-risk activity for short-term gains.
• We adhere to traditional, durable balance sheet management principles. Delta Community gathers deposits from and primarily invests in loans to members who live locally. We purposely carry higher capital reserves than the average for banks since a stronger capital position enables us to better sustain member service and value during economic downturns, which is evidenced by our performance throughout the Great Recession and COVID-19 pandemic. In contrast, Silicon Valley and Signature Banks had large concentrations of uninsured deposits. These deposits were high-balance accounts held by select businesses or wealthy clients that far exceeded federal deposit insurance limits. Silicon Valley and Signature Banks managed to lower capital ratio targets and were invested more heavily in long-term bonds that decline in value during periods of rising interest rates.
• Deposits at Delta Community are insured by the National Credit Union Administration (NCUA), a U.S. government agency. Every member has a minimum of $250,000 in coverage. Coverage can be extended if accounts are held jointly or have named beneficiaries. Our branch and Member Care Center employees can help you review your accounts and take steps to further optimize your coverage whenever needed. You can also find a practical blog entry on the topic and a link to the NCUA’s deposit insurance calculator on our website.

We appreciate your business and recognize the confidence you place in us. Our goal is to serve as your trusted financial partner through every stage of life, and you can count on us to always put the collective interests of our members first. We will continue to monitor media coverage of the banking industry and share information as warranted. Of course, if you ever have questions about Delta Community’s business plan or performance, we are happy to receive and answer them.

Thank you for being part of Delta Community.

Hank Halter

Chief Executive Officer

Get Going with a Car or Vehicle Loan

Delta Community is offering members low rates on new and used Car and Vehicle Loans through April 30.

Well-qualified borrowers with excellent credit can get rates as low as 4.88% APR on new Car Loans, 5.18% APR on used Car Loans and as low as 6.38% APR on loans for boats, motorcycles, RVs and more!¹ 

To apply now, log in to Online Banking or our Mobile App and select Apply for a Loan, or call our Loan Consultant Group at 844-544-9478.

You'll Love These Great CD Rates

Our Certificate of Deposit (CD) rates are on the rise! Earn as much as 4.70% APY on a 24-month CD or 4.55% APY on a 12-month CD.²
Understanding and responding to market conditions so we can help our members thrive is a commitment Delta Community stands by. We’re here to help guide you and offer competitive and attractive rates in addition to the excellent service that sets us apart from others.

Lock in your savings today and secure your future goals with Delta Community. To take advantage of these great rates, open a new CD before April 30. To get started, log in to Online Banking or our Mobile App, choose Add an Account from the menu, then select Certificate of Deposit (CD). You can also stop by any Delta Community branch or call us at 800-544-3328.

HBCU Application Period Open

Delta Community will award $20,000 in scholarships throughout 2023 to students of Historically Black Colleges and Universities (HBCUs). Our first HBCU Scholarship entry period is now open and will run through April 30. If you know an exceptional student attending an HBCU or a graduating high school senior who has received an official acceptance letter to one, tell us why they deserve to receive a $5,000 scholarship! You may also nominate yourself. Delta Community will select two winners from among the most compelling submissions to each win a $5,000. Visit DeltaCommunityCU.com/HBCU for more information and to apply!

Celebrating Youth Month at Delta Community 

This April, we’re celebrating National Credit Union Youth Month at Delta Community! One of the most valuable lessons that we can teach our children is how to save and spend wisely. The 2023 "Saving for the Future" Youth Savings Contest is an awesome opportunity for young savers to show their creativity. Have your child use our downloadable coloring sheets to show their artistic skills, or download the writing form for your kids to write a creative, one-page story related to their savings goals. Entries will be accepted through April 30 and we'll select 10 winners, based on creativity, to each receive $100 for their Youth Savings Account. Visit DeltaCommunityCU.com/SavingForFuture for more information on how to enter. We look forward to helping your young savers reach their goals! 

Is your child not yet a member? Open a new Youth Savings Account through April 30 and we'll match the opening deposit up to $100! Youth Savings Accounts are available to children ages 0 to 12 years old--this includes your child, grandchild, niece, nephew or cousin. Youth accounts can be opened by sending your completed application via the secure messaging feature available in the Delta Community Mobile App or Online Banking. You can also mail or fax a completed Youth Savings Account application as noted on the document, or simply bring it to your nearest Delta Community branch location. Open a Youth Savings Account today before this special deposit match ends on April 30! To learn more, visit DeltaCommunityCU.com/YouthMatch.

Make Your Move and Save $500 or More on Closing Costs

Members looking to buy their first home, upgrade or refinance can make the experience easy and affordable with low rates on a variety of Delta Community Home Loans.

Our experienced team of Home Loan Specialists are ready to guide you toward the very best home solutions and quickly answer any questions all the way through closing and beyond. Apply and receive:

• $500 off closing costs on Fixed or Adjustable-Rate Home Loan Purchases through December 31, 2023²
• $500 off closing costs when you Refinance your Home Loan by May 31, 2023²
• $1,000 off closing costs on Jumbo Loan Purchases and Refinances by May 31, 2023³

For more information, or to apply, visit DeltaCommunityCU.com/ComeHome, call 866-963-7811 Option 1, email Home.Loans@DeltaCommunityCU.com or schedule an appointment with a Home Loan Specialist today.

Philanthropic Fund Grants Awarded in March

We recently presented four more $5,000 grants from our 2023 Philanthropic Fund to the following organizations:

VOX ATL, pictured here, is an organization dedicated to empowering youth through their voice and self-expression. They will use the funds to support educational after school and summer activities for teens focused on journalism, digital media and leadership development.

The Atlanta Community Food Bank will use its award to increase access to food for children and families, as well as help raise awareness of childhood hunger in the community.

Bearings Bike Works, a youth skills development organization, will apply the grant to its workplace development program for teens and young adults, which provides skill building and work experience in the context of a bike shop.

Everybody Wins! Atlanta, an organization focused on improving literacy skills for students reading below their grade levels, will utilize its award to help fund its literacy programs in metro Atlanta Title I schools.

The Delta Community Philanthropic Fund will invest a total of $150,000 throughout 2023 to 20 metro Atlanta non-profit organizations that support the physical and financial needs of people who live within the communities we serve.

Activate Your Bonus Rewards

Each quarter, we offer an opportunity for members who have our Visa® Platinum Rewards Credit Card to earn Bonus Reward Points for purchases in select categories from restaurants to retail.

If you’re a Platinum Rewards Credit Card holder, be sure to enroll each quarter to earn 2x or 3x the Reward Points on the purchases you make every day. Activate bonus categories for April through June to earn 3x Reward Points for eligible purchases with Hardware and Home Supply Warehouse Stores, 2x Reward Points for eligible purchases at Gas Stations and Grocery Stores, and 1x Reward Points for every $1 spent on eligible purchases in categories outside the bonus categories.

To activate, log in to your account and select Reward Points under the Additional Services tab or More in our Mobile App. Click the link to enroll for the current quarter or an upcoming quarter. When you’re ready to redeem your points, you can choose from a wide variety of Cash Back, Gift Cards, Merchandise and Travel with no blackout dates.

Financial Education Center Seminars

At Delta Community, we know that knowledge is the key to reaching your financial goals and establishing good financial habits. That’s why we’re offering a series of workshops each month focusing on a different aspect of personal finance. Whether you’re planning for a major milestone or trying to better manage your finances, our Financial Education Center offers the tools to help you achieve financial success.

Our workshop series for April will focus on Auto Buying. We’ll discuss how to prepare for buying your next car, planning for the expenses of car ownership, how to finance a vehicle the smart way, and the importance of proper insurance coverage. Plus, the team at BALANCE will teach parents effective ways they can educate their children about financial responsibility as part of National Credit Union Youth Month. 

• April 11: Raising Money Smart Kids | Live Webinar by BALANCE
• April 13: Car Buying Confidence | Live Webinar
• April 19: Costs of Car Ownership | Live Webinar
• April 20: Raising Money Smart Kids | Live Webinar by BALANCE
• April 25: Auto Financing the Smart Way | Live Webinar
• April 27: Am I Covered? Understanding Personal Liability | Live Webinar

 Check our Events & Seminars page for more information on upcoming seminars.

Monthly Blogs

• What To Do with Your 2022 Tax Refund, Commission or Bonus: An expected refund, commission or bonus can inspire exciting plans for spending our new money. It’s natural to want to reward ourselves using part or all of a tax refund or bonus, which we may think of as extra money that’s different from our regular pay. Keep in mind that tax refunds are money that you’ve already earned. Whether it’s your regular pay or a refund, commission, or bonus, you should be still be responsible with how you use that money.
• What To Do If You Can’t Pay All Your Federal Taxes: Maybe last year you sold a home or sold off a large amount of investments that had greatly grown in value. Perhaps your job is in sales, and because of a super successful year and commission compensation, your take-home pay had an unexpected and very big increase, or your annual bonus was much more than you had anticipated. Whatever the reason for the major positive change in assets and income, you realize that the federal taxes that you need to pay the U.S. Internal Revenue Service (IRS) this year may be more than the cash you have on hand, and very likely will bust your budget.
• How the U.S. Government Protects Your Credit Union Deposits: Delta Community sometimes receives inquiries from its members about its financial health and if members’ deposits are insured in some way. The deposits of Credit Union members are insured by the United States government through a program that some of our members may not be aware of, but it’s important to understand how the program operates and the protection it provides.