A Quarterly Publication for the Members of Schlumberger ...

A Quarterly Publication for the Members of Schlumberger Employees Credit Union ? Spring 2016

Refinance & Save

With interest rates still at historical lows, this is a great time to consider refinancing your higher rate Credit Card, Personal, and Vehicle loans with SECU. Doing so could save you hundreds of dollars over the life of your loan.

Before you complete a loan application, do some preliminary homework to assure that you will save money.

Refinance Considerations

If you have just started building credit, allow at least 6 months of payment history to accumulate before requesting your credit score.

2) Compare your current rate with SECU's special rates (see page 3 ad). Determine your savings using our loan calculator (QR Code on right).

3) Be prepared to provide proof-of-income (2 pay slips), since loan qualification requires monthly debt/income to be less than 50 percent (consider joint ownership to qualify). 0529

1) Make sure that your credit is in good standing or improving.

Go to and pull a report from at least one credit bureau (select a different bureau free every 4 months).

Now that you have done your homework and discovered that refinancing can save you money, you are ready to complete our online application: secu. (no refinance fees for bringing your Personal/Vehicle loans to SECU. Title fee may apply).

69th Annual Meeting Held

The 69th Annual Meeting of Members was held on Monday, February 15, 2016, via webinar with good attendance. 630 members from 53 countries registered to attend the webinar. We had 134 members attend from 19 different countries.

Chairman Bill Carpenter's presentation excerpts follow: "SECU had a solid year in 2015, despite the challenging financial and oilfield industry environments. Several records were established, including: Total Assets $792.4M (up 9%), Total Member Deposits $697.4M (up 9%), and Members 32,007 (up 1.8%). This sustained growth points out that our Members continue to put their faith in SECU as a secure, reliable financial institution. I am pleased to report their confidence is again shared by the State of Texas Credit Union Department (TCUD), the National Credit Union Administration (NCUA) examiners, and BauerFinancial, Inc., which gave Schlumberger Employees Credit Union their 5-Star superior rating for the 48th consecutive quarter.

Much of the 2015 strategy focused on increasing efficiency and making our services more convenient to access. Some of the results we saw in 2015 include:

- Full implementation of EMV credit cards.

- Continued development of Enterprise Risk Management models to assist in managing risks across a multi-functional organization.

- Introduction of several new mobile apps: CardValet? app for credit and debit card self-monitoring for enhanced security, Touchbanking app for mobile access to your accounts, and AskAuto? app for vehicle research and link to on-line loan application.

- Telephone system upgrade for improved member response.

It's no secret that we have experienced a very challenging financial environment during 2015. Increased regulatory pressures, widespread economic uncertainty, an improving, though volatile real estate market, and the continuing decline of oil prices have all contributed to the challenge. Your board spent a great deal of time during 2015 in financial education and in establishing policies that dictate how financial risks are managed. In addition, for the last four years our financial statements have been audited by Nearman, Maynard, Vallez, CPA's resulting in an "unmodified opinion" (the best result an organization can achieve).

Please know SECU will continue to focus on member service, great rates, and programs to promote the efficiencies of Internet financial transactions in 2016.

Newly Elected Directors

We are anxiously looking forward to 2016 being another great year!"

Online elections were held to fill vacant board positions, electing four returning directors (below). More details and a copy of the presentation can be found online at secu. (Ask a Question: Annual Meeting 2016).

Bill Carpenter

Sonny Johnston

Jerry Harper

Laura Paddy

From the President:

Your credit union continues to have solid growth through February YTD with assets up 1.58% to $803.6 million and membership up 0.15% to 32,100. Our capital remains strong at $92.1 million, yielding a capital/assets ratio of 11.46%, which is more than adequate safety margin as per NCUA (National Credit Union Administration ? the Federal regulatory agency that insures credit unions) requirements.

SECU remains 5-Stars rated for the 49th consecutive quarter through March 2016. The 5-Stars rating is the highest rating offered by BauerFinancial, Inc., indicating that SECU is one of the safest financial institutions in the U.S.

Reiterating some of the discussion points from our Annual Meeting, during 2015 our strong competitiveness helped grow our loan portfolio 8% ($14.3M): Personal loans increased $6.9 M (including autos, boats, RV's, motorcycles, and signature), Visa loans increased $0.1M, and Mortgage loans increased $7.3M. We anticipate continued strong loan growth in 2016.

Technology Updates

EMV Debit Cards We plan to replace all debit cards with EMV chip cards by Q3, 2016. For security purposes, the cards will have new numbers so new PINs will also be issued and sent separately from the cards. Since the old cards will be set to automatically expire within 30 days (U.S.) or 45 days (International) of the EMV replacement card delivery date, the new cards should be activated promptly to assure uninterrupted service.

The EMV debit card is designed for real-time Chip and Signature/PIN online authorization, a standard already adopted in Asia, Russia, U.S. and many parts of Europe. Although the EMV card still contains a magnetic strip, providing the same functionality as the replaced cards, the chip addition allows members to use the card on systems around the world that require the chip for processing. Where systems have been upgraded to accept EMV, for security purposes the only option available will be chip processing. 0306

Fraud Prevention We need your help if fighting fraud! Please consider at a minimum setting up eAlerts within Net24 Service to monitor daily transactions and account balances. If you are located in the U.S., download our CardValet? app to manage both debit and credit VISA card transactions (available at Apple and Google Play online stores). Check out the CardValet? video at secu. (Ask a Question: CardValet)

Thank you for your continued support!

Harold Ottis

President

Auto Shopping Tools

If you are in the market for a new vehicle, check out some of SECU's resources first. Unfortunately, most shoppers decide on a whim to drop by a dealership without having done any prior research, then get sold on a vehicle which may not be their first preference or best value. For this size of purchase, planning a strategy and having tools to carry out that strategy will improve your chances of success and save you money in the process!

Auto Shopping Tools

1) AskAuto? App ? Personal Car Buying Assistant (QR Code for app download below). - Scan VINs to get average retail cost and EPA mileage estimates. - Compare, rank, and save notes on vehicles you might want to buy. - Prequalify for your loan anytime, anywhere.

2) Auto Buyer's Workshop ? Register and attend online (secu. Education: Auto Buyer's)

3) Discount Programs ? Chrysler Affiliates, Ford Partner Plan, and GM Supplier Discount (secu. Ask a Question: Supplier Discount Plans)

4) ? No haggle credit union friendly fleet dealer list that can save you both time and money.

These tools will equip you with adequate resources for a successful shopping experience and save you money in the process. If you plan to make a loan for your vehicle purchase, you should always get preapproved first at SECU (secu. Auto Loans Icon). 1025

Keep Your Accounts Active!

Every state requires financial institutions to report when property, cash, or other assets have been abandoned or unclaimed by their owner. Accounts with no activity within the last three years are declared abandoned, requiring the accounts to be closed and the funds sent (escheated) to the state.

Each year, SECU will mail reminder notices to members with accounts set to escheat. If no response is received by the notice deadline, these account(s) will be closed and funds sent to the state (account last inactivity dates can be reset upon request).

Exclusive Benefits: Life, AD&D, Auto, and Home

Home Buying - Location

The three most important factors in determining real estate value are location, location, location. Although your real estate professional probably explained the significance when discussing neighborhoods or communities within your budget, possibly in your excitement this got overlooked?

If your attention is focused on decor, granite counters, and stainless steel appliances, you are likely concentrating on changeable aspects of the property that will depreciate or lose value as styles change. Instead, focus on what will not depreciate or go out of style -- the land. The supply of land is limited and demand will continue to rise.

Insurance Built for Credit Union Members Like You Exclusively for credit union members

TruStage insurance products are only available to credit union members. Your membership means competitive rates, helpful guidance without sales pressure, and quality products trusted by your credit union. Regardless of your budget, we can help make sure the protection you need makes sense. It's all part of smart planning and caring about the aspirations and achievements of those who matter most.

Call us - we'll help you understand all of your options so you can choose the one that is best for you and your family.

Life and AD&D 1-855-612-7909 Auto & Home 1-888-380-9287 Visit us at

TruStage products and programs are made available through the companies of the CUNA Mutual Group. They have been providing insurance and financial services designed for credit unions and their members for more than 75 years, serving more than 13 million credit union members.

Location value is determined by proximity to favored items like schools, transportation, walkable retail areas, and local attractions. Changes in usage including building of high rises and transit can downgrade or upgrade the value of some properties or may affect an entire area, so local knowledge is vital. 0425

The pattern of appreciation in a neighborhood will give some indication of future trends. To track price changes, the Federal Housing Finance Agency publishes monthly and quarterly House Price Index (HPI) reports, which are held as accurate indicators of house price trends at various geographic locations. HPI reports can help you evaluate areas being considered.

Repeat the location-location-location mantra as you view properties and wander potential neighborhoods. Don't buy decor, buy land (Excerpts from P.J. Wade, RealtyTimes? March 2016).

Mortgage Assistance Contact Sallye Gibson, the SECU mortgage loan officer (Toll Free: 800-4606990, Direct: 281-285-3237, or Email: SGibson@). Sallye is located at SECU's Sugar Land main branch office. If you are in the area, come by and visit. Sallye can provide you with a wealth of information without obligation! We also offer "Home Buyer's Workshops" monthly. See our schedule online: secu. (Ask a Question: Home Buyer's Workshops)

Announcing New SECU Staff

TruStageTM is the marketing brand for the insurance products. The Auto & Home Insurance Program is made available by CUNA Mutual Insurance Agency, Inc. and underwritten by leading insurance companies. Life and accidental death & dismemberment insurance is sold through CMFG Life Insurance Company.

The insurance offered is not a deposit and is not federally insured, sold, or guaranteed by your credit union. MC2645AR-0812

Anthony Munoz

Anthony, with 5 years of financial industry experience, joins our team as a Teller. Besides his experience in the industry, he also enjoys outdoor activities.

Loan Specials Take advantage of our Great Rates "While they Last"

Auto/Specialty ALA 1.75% APR*

Refinance Auto/Specialty Up to 2% Below

Competitor*

Debt Consolidation

ALA 5.49% APR*

(New Money Only)

*APR is Annual Percentage Rate, ALA is As Low As. Auto/Specialty: No down payment required with approved credit. Refinance discounts: 2% for up to 48-months, 1.5% for 49-60 months, 1% for 61-72 months, but not to exceed remaining loan term (floor rate is 1.75% APR, and must provide proof statement with competitor rate). Debt Consolidation: For refinancing unsecured debt from other financial institutions. Members must qualify! See secu. (Ask a Question: Loan Specials) for details.

IRA's ? April 15th Deadline

Why pay more taxes than necessary? SECU offers three classes of IRAs: Traditional (pre-tax, if qualified), ROTH (post-tax), and Educational (post-tax). Our great rates will help you achieve your long-term financial goals at minimum risk. Contact SECU and ask for details, or visit our website for more information (secu.: Accounts, Certificates and IRAs).

Convenience

Access any of our 5,000 plus Shared Branch locations nationwide, where you can receive the same great walkin service as our Sugar Land branch for deposits and withdrawals.

Why pay surcharge-fees at an ATM... SECU offers SurchargeFree access at 55,000 Allpoint Network ATMs worldwide.

Find the nearest Shared Branch or Surcharge-Free ATM on our website: secu. (just enter your ZIP code), or download the apps (Home page Mobile Apps icon).

It Pays to Read the Shareholder!

Locate the first four sequential numbers of your birth date (MMDD) in this newsletter and win $25 (cannot be part of a string of numbers). Only Primary members are eligible, using the current issue. Last issue, we had 10 winners!

SECU's Historical Member, Assets, and Loan Chart!

35000

Members

Assets ($Mil)

Loans ($Mil)

900

30000

800

700 25000

600

20000

500

15000

400

300 10000

200

5000

100

0

0

'06 '07 '08 '09 '10 '11 '12 '13 '14 '15 Feb '16

LOAN RATES

LOAN TYPE Auto: New/Used

Specialty: RV, Boat, Motorcycle

Share-Secured CD Secured Stock Secured Signature Signature Signature Signature

RATE (APR)

1.75%* 2.24%* 2.80%* 3.35%* 4.15%*

TERM (Months)

24 25-36 37-48 49-60 61-72

1.75%* 2.24%* 2.80%* 3.35%* 4.15%*

24 25-36 37-48 49-60 61-72

Div rate + 2.75% CD Rate + 2.75% 6.40% 9.49%* 10.49%* 10.99%* 11.49%*

60 12 13-18 19-30 31-36

SAVINGS RATES

SAVINGS TYPE

Regular Share (paid quarterly) Youth 6-month CD 12-month CD 18-month CD 24-month CD 36-month CD IRA Savings IRA 6-month CD IRA 12-month CD IRA 18-month CD IRA 24-month CD IRA 36-month CD Checking*

TERMS

$100 min. no min. bal. $1000 min. $1000 min. $1000 min. $1000 min. $1000 min. $40 min. $500 min. $500 min. $500 min. $500 min. $500 min. $500 min.

(Effective February 29, 2016) FINANCING 100% of list (new), 100% NADA value (used), + TT&L $15K minimum $25K minimum

100% of list (new), 100% NADA value (used), + TT&L $15K minimum $25K minimum

12 - 60-months Same as Term of CD 60% loan on SLB stock Computer, Furniture, etc. If Consolidation, see Special!

(Effective February 29, 2016)

RATE (APY)

0.050% 0.050% 0.080% 0.130% 0.180% 0.250% 0.451% 0.050% 0.080% 0.130% 0.180% 0.250% 0.451% 0.005%

*APY is Annual Percentage Yield. Rates are subject to change. Regular share rates are determined by the board of directors, and declared on the third Monday of the last month of the quarterly period affected. Rates marked by * are "As Low As" rates that depend on credit performance (see details on the SECU website). Loans are subject to minimums borrowed and members must qualify, except for stock- and share- secured loans. Auto loans are available for up to 100% of list (new) or 100% of NADA value (used) plus TT&L. Checking interest is paid on standard and 55Plus accounts only.

SECU Executive Board

Chairman . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Bill Carpenter Vice Chairman . . . . . . . . . . . . . . . . . . . . . . . . . . . Kannan Venkataraman Treasurer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jerry Harper Secretary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Laura Paddy

Other Board Members

SECU Statement of Condition

(As of 2/29/2016, $ in Millions)

ASSETS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $803.6 SAVINGS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $705.5 LOANS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $185.1

John Crawford

Nadia Markakis

Joe Van Valkenburgh MEMBERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32,100

Bob Fons

Blaine Hust

Sonny Johnston

Gaynor Richardson

ABA Routing Number: 313084564

The SHAREHOLDER is a non-subscription publication of the Schlumberger

secu@ Employees Credit Union, 225 Schlumberger Drive, Sugar Land, Texas Email:

Web Page: secu.

77478. It is distributed to the actual and potential membership of the

SECU. Mortgage Partner: 281-285-3237 / 800-460-6990, SECU Office:

281-285-4551 / 800-272-7328, Fax: 281-285-4436.

We also publish the Shareholder online!

Publisher: Jerry Hammervold

Federally Insured by the NCUA

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government

NCUA

National Credit Union Administration, a U.S. Government Agency

MEMBER OWNED, MEMBER LEDSM

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