Zing Credit Union Recognized in 33rd Annual ColoradoBiz Top Company Awards

Zing Credit Union was named the top financial services provider by ColoradoBiz magazine in its 33^rd Annual Top Company Awards program.

Winners of the 2020 ColoradoBiz Top Company Awards were unveiled in the statewide business magazine’s September-October issue that also profiled 44 finalists in 15 industry categories.

The ColoradoBiz magazine program, now in its 33^th year, recognizes outstanding businesses headquartered in Colorado or with significant presence in the state. Entrants were judged on three criteria: outstanding achievement, financial performance and community involvement.

Zing Credit Union took top honors in the financial services category. The 86-year old, member-owned credit union creates products and services to empower the financial decisions of its more than 31,000 members in Adams, Arapahoe, Jefferson and Denver counties.

“Our size allows us to be large enough to provide traditional products like mobile banking, but small enough to develop products in response to our local community’s needs,” Co-CEO Tessa Bonfante said. “We are able to keep our deposits local, because of our structure, with about 85% of all deposits being returned directly to our local economy in the form of loans to members and local businesses.”

After initial screening by audit, tax and consulting firm RSM US to identify the finalists in each category, the Top Company judging panel, made up of editorial staff from the magazine and representatives from the business community, convened to pore over the finalists’ nominations and tap the winners.

“The Top Company Awards program is widely viewed as the most competitive business award of its kind,” ColoradoBiz Publisher Sylvia Harmon said. “In this year of unprecedented challenges, it’s especially gratifying to recognize companies and organizations that managed to maintain — and in some cases even elevate – their level of performance.”

Zing Credit Union provides financial education for its members through the Clear Money Program, which features financial coaching sessions and online courses. Other resources include such things as an alternative to payday lending for members in need of a small dollar emergency loan, hoping to keep people out of the cycle of debt.

“Our credit union’s purpose is not profit, but advancing the financial opportunity of our members, our staff and our community,” Co-CEO Shane Silvernale said. “We ask ourselves with each decision if this choice is in the best interest of our member-owners.”

Its #DenverCommunityGives initiatives gave back to the community through giving drives, service projects and volunteerism, including donations of 1,617 pounds of food to a local anti-hunger organization and 1,281 volunteer hours with area nonprofits in 2019 alone. Team service projects included building outreach kits for homeless veterans and making 30 fleece blankets for those in crisis.

To read the complete article, please visit https://www.cobizmag.com/top-company-2020-financial-services/

Truth In Savings Disclosure

TRUTH IN SAVINGS DISCLOSURE

Except as specifically described, the following disclosures apply to all the accounts.

Rate Information. The dividend rate, or interest rate, and annual percentage yield on your accounts are set forth on the reverse side. The annual percentage yield is a percentage rate that reflects the total amount of dividends/interest to be paid on an account based on the dividend/interest rate and frequency of compounding for an annual period. For Certificates of Deposit and IRA Certificates of Deposit, the interest rate and annual percentage yield are fixed and will be in effect for the term of the account. The annual percentage yield is based on an assumption that interest will remain on deposit until maturity. A withdrawal will reduce earnings.
Nature of Dividends. Dividends are paid from current income and available earnings after providing for the required reserves. The dividend rates and annual percentage yields are the prospective rates and yields that the Credit Union anticipates paying for the applicable dividend period.
Compounding and Crediting. Interest and dividends will be compounded and credited as set forth on the reverse side. The dividend/interest period for each account is also set forth on our Rate and Fee Schedule. The dividend/interest period begins on the first calendar day of the period and ends on the last calendar day of the period.
Balance Information. The minimum balance required to open each account is set forth. Interest is calculated by the daily balance method which applies a daily periodic rate to the principal in the account each day.
Accrual of Dividends. Dividends will begin to accrue on cash deposits on the business day you make the deposit to your account. Dividends will begin to accrue on noncash deposits (checks) on the business day you make the deposit to your account. If you close your account before accrued dividends are credited, accrued dividends will not be paid.
Account Limitations. The account limitations for each account are set forth in our Membership and Account Agreement
Your account will mature on the maturity date set forth on your account receipt or renewal notice.
Early Withdrawal Penalties. A penalty may be imposed if you withdraw any of the certificate funds before the maturity date or the renewal date, if this is a renewal account.
Amount of Penalty. For Certificates of Deposit and IRA Certificates of Deposit the amount of the early withdrawal penalty for your account is 90 days’ interest for a term of 12 months or less, and 180 days’ interest for a term over 12 months.
How the Penalty Works. The penalty is calculated as a forfeiture of part or all of the interest that have been earned on the account. This penalty applies to earned interest and principal.
Renewal Policy. Certificate of Deposit accounts will automatically renew for another term upon maturity. You have a grace period of seven days in which to change or withdraw the funds without being charged an early withdrawal penalty.
Exception to Early Withdrawal Penalties. At our option, we may redeem the account before maturity without imposing an early withdrawal penalty under the following circumstances:
- When an account owner dies
- or is determined legally incompetent by a court
- or other body of competent jurisdiction.
Nontransferable / Nonnegotiable. Your account is nontransferable and nonnegotiable. The funds in your account may not be pledged to secure any obligation of an owner except obligations with the Credit Union.
FEES FOR OVERDRAWN ACCOUNTS. Fees may be imposed on each check, draft item, ATM card withdrawal, debit card withdrawal, debit card point of purchase, preauthorized automatic debit, telephone initiated withdrawal or any other electronic withdrawal or transfer transaction that is drawn on an insufficient available account balance. The entire balance in your account may not be available for withdrawal, transfer or payment of a check, draft or item. You may consult the Funds Availability Policy for information regarding the availability of funds in your account. Fees for overdrawing your account may be imposed for each overdraft, item or transaction. If we have approved an overdraft protection limit for your account, such fees may reduce your approval limit. Please refer to the Rate and Fee Schedule for current fee information.

Checking Comparison Chart

Compare Checking Accounts

Preferred Checking

Clear Card

Second Chance Checking

Minimum Opening Balance

Suggested opening amount- $25

ID Safe Choice Charge Possible

Yes

Direct Deposit

Accepted and encouraged

Dividends Paid

Privilege Pay

Available after 90 days

Overdraft LOC

Available immediately, with approved credit

ATM/Debit Card

Instant Issue

Shared Branching

Available

Free Bill Payer

Available

Mile High APY

Yes

N/A

Yes

5 Buck Club

Yes