enewsletter January - March 2018

Transcription

1 enewsletter January - March 2018 In This Issue: Nomination Committee Notification 2018 Annual Business Meeting Notice Austin Telco Retirement & Investment Services Love My Credit Union Rewards Thinking About Buying a New or Used Car? What Does it Mean to be House Poor? Nominating Committee Notification The Nominating Committee will submit the following individuals for nomination to fill two Board of Directors positions at the Annual Meeting on Thursday, March 8 th, 2018: Fran Berns, Joe Bain Jr. Fran Berns Is the current Secretary for the ATFCU Board of Directors. He has served three years on the Board in addition to two years on the Austin Telco Supervisory Committee where he held the position of Chairman. Fran has volunteered his time on various organizations and committees, and has attended numerous conferences and training sessions to keep him current on the credit union industry. Mark Your Calendars ATFCU Branches will be closed in observance of: Martin Luther King Jr. Birthday Monday, January 15th Presidents Day Monday, February 19th Joe Bain Jr. has served on the ATFCU Board of Directors for two years after previously serving on the Supervisory Committee as Chairman. He has volunteered for several local area organizations and has served on multiple boards including the board of directors for Capital Area Metropolitan Planning Organization. Joe has attended multiple conferences and training sessions to enhance his knowledge of the credit union industry. Since there will be no nominations from the floor, other nominations for vacancies may be made by a signed petition of 500 members. The deadline to file a petition is Thursday, January 25 th, Annual Business Meeting Notice The Annual Business Meeting will be Thursday, March 8th, 2018 at the Shoal Creek Branch starting at 2pm. The format will be a business meeting, with a presentation of the 2017 financial performance results. There will be no door prizes or give-a-ways and dinner will not be served. To reserve a seat, RSVP by Thursday, March 1st, call Ext, 7000.

2 RETIREMENT & INVESTMENT SERVICES RETIREMENT & INVESTMENT SERVICES Wealth Management Isn t Just for the Wealthy If you think you need a huge savings account, or be close to retirement, in order to work with the financial advisors located here at Austin Telco Federal Credit Union you re mistaken. It s never too early to start planning your financial future. No matter your age or income level, our financial advisors will work with you to create a plan to help you meet your goals. Then, they ll monitor and adjust your plan as your life changes and grows. Whether you re just starting out or already well on your way, they can help with: Investment Accounts Saving for College Retirement Planning Estate Conservation... And everything in between The financial services team here knows that complexity, fear and lack of access may be barriers to financial security to some, and they re here to break them down. Financial planning doesn t have to be about big words and complicated investments. Investing doesn t have to be about risking your life savings in the stock market, and wealth management doesn t have to begin with wealth but it can certainly strive to get there. It s just another way Austin Telco Federal Credit Union is here for all aspects of your financial life. You already trust us with your accounts. Now, let our financial planning team help lay the groundwork for your future success. There s no charge or obligation to sit down and talk. Call or Joshua Lowy or Douglas Mitchell today to get started. Joshua Lowy Financial Advisor Office: joshua.lowy@cunamutual.com Douglas Mitchell Financial Advisor Office: douglas.mitchell@cunamutual.com CBSI Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. CBSI is a registered broker/dealer in all fifty states of the United States of America. The representative may also be financial institution employee that accepts deposits on behalf of the financial institution.

3 LOVE MY CREDIT UNION REWARDS The benefits of membership keep getting better! Right now, Austin Telco FCU members can enjoy the reliability of Sprint s network and a $100 CASH REWARD for every new line you activate with Sprint. Plus, get a $50 loyalty cash reward every year for every line. Reliability You can also enjoy the reliability of Sprint s network, which now beats T-Mobile and performs within 1% of AT&T & Verizon*. And, a great price for fully featured Unlimited Plan. What you get: Members get a $100 cash reward for every new line you activate with Sprint Current Sprint customers receive a $50 cash reward for every line transferred into Sprint Credit Union Member Cash Reward program Plus, get a $50 loyalty cash reward every year for every line Credit union members are eligible for 25% off accessories with the Sprint Credit Union Member Cash Rewards program How you get it: 1. Become a Sprint customer and mention you re an Austin Telco member. 2. Register at LoveMyCreditUnion.org/SprintRewards. 3. Allow up to six to eight weeks to see rewards directly deposited into your Austin Telco account. Sign up today to discover the cash BENefits you ll enjoy with Sprint s best Credit Union Member Cash Rewards EVER! *Claim based on Sprint s analysis of latest Nielsen drive test data for average network reliability (voice & data) in top 106 markets. Statistically Speaking As of November 30 th, 2017 Number of Members 84,282 Loans $905,069,362 Number of Checking Accounts 51,693 Deposits $1,276,040,838 Capital $189,317,469 Assets $1,461,508,213

4 Thinking of buying a new or used car? Buying a car is one of the biggest purchases people make. The Austin Telco FCU Car Buying Service has been designed to help you save time and money if you re looking to replace your vehicle or add to your garage. Five things to consider when buying a new or used car: 1. Pick your price range The two most important numbers to consider are the selling price and the monthly payment. For those who are financing, consider the period of time you want to make payments. Automobile finance contracts vary, but the average time is 5 to 6 years. 2. Do your research It s important to do your research in advance of getting on the lot. With the Austin Telco FCU Car Buying Service you can see what other people in your area paid for the car you want with unlimited free TrueCar Price Reports. And for used cars you can find if a dealer price on a specific car is Good, Great or Above Market. 3. Take that test drive The true test is driving it around the block, or in a close approximation to your daily driving conditions. Does the interior make you comfy? Using your senses of vision, hearing, touch and even smell can go a long way in helping you decide on the right car. 4. Line up your insurance You can t drive off in your new vehicle without proof of insurance, so make sure your existing policy will cover your new car. If you re interested in additional coverage for your auto loan, Austin Telco offers Guaranteed Asset Protection (GAP), Major Mechanical Protection (MMP), and Payment Protection Insurance (PPI). Visit for your free quote. 5. Investigate the dealer s inventory Make a list of what options and accessories you must have, those that you can take or leave, and those that don t matter. Take your list to the dealership to help you stay focused. If you chose to use Austin Telco FCU Car Buying Service any Certified Dealer will honor the Guaranteed Savings listed on your Certificate(s) even if you change options.* There are a lot of factors to keep in mind when buying a new car, but always do your homework. As a member you can access the free Price Reports mentioned above, see upfront dealer pricing,* take advantage of any special program savings, and find prescreened dealers in your area by visiting Auto Loans New, Used, or Refinance 2.09 % 1 APR as low as Up to 60 Months *Guaranteed Savings and upfront dealer pricing information not available in all states. In these states, a Target Price is shown, which is a market- based example of what you can reasonably expect to pay for your vehicle as configured. Your configured vehicle may not be available or in stock at the Certified Dealer. 1 Annual Percentage Rate. Actual rate may vary depending on credit qualifications. Rates and terms are subject to change without notice. Auto loan rate advertised is our lowest rate for the purchase of a new or used vehicle, or the refinance of an existing loan from another lender.

5 What does it mean to be house poor? Ever have someone tell you that they are house poor? Maybe someone warned you to not get in that position or perhaps someone complained that they were themselves house poor. It s a common phrase and concern when buying a home, but what does it mean? When someone is making that comment, they are referring to being overextended in buying that dream home they ve always wanted. Sure the house is wonderful, but that big down payment and large monthly mortgage payment are more than they can handle and as a result no money is left over to live life. No vacations, no nicer cars, no dates, no way to fix the house if something breaks, no nothing. To avoid becoming house poor, budgeting is key. Be smart and very real with yourself as to what you can and can t afford. If you re just starting out in life, you can stretch a bit because the intention is that your career will grow and so will your income. Be conservative just in case things don t pan out just as you thought they would. When budgeting, take into effect of what you want to do outside of the house and I don t mean gardening projects. I m talking about annual vacations, upgrading aging cars, fixing up the house, going out to dinner, planning for retirement, and having kiddos, etc. All these items will play a part in your budget, so you won t be slaves to your monthly house payment. For an annual vacation, for example, figure out how much that will cost overall and how much that will take out of your budget to save for it each month. Factor that savings in with your other monthly bills to ensure you are prepared. Don t forget those pesky property taxes. You ll have to plan those into your budget, as taxes can easily be overlooked in all the excitement of buying your new home especially your first one. You will have an escrow that will handle them and you ll want to make sure you have them estimated properly and factored in. Next, consider weighing home improvements as well. Remember, even if you buy a brand new home, things happen and you could end up with an unexpected repair, replacement, or damage that must be fixed. Even with insurance and home warranties, sometimes life s unexpected scenarios can destroy your budget. Now that you have a rough idea of a budget and hopefully a pre-qualification for your loan, as well, it s time to go house shopping. There will be many, many houses you will absolutely die for, as real estate agents sometimes like to take you out of your comfort zone to inch up the cost. Your first house probably won t be your ultimate dream home. But it s most likely exactly what you need at that time of your life a stepping stone to the next home, where you can get closer to your dream home. Best of all, the payments will be super affordable and you ll be able to save for vacations, new cars, home improvements, dinners and concerts, kids, etc. It pays to plan and be real about your situation at the time to avoid being house poor. You can have the most wonderful house in the world. But if that s all you can afford, it s not worth it. Mortgage Specialist Mark Crowley Sr, Loan Officer NMLS (512) Toll Free: Ext markc@homeloancu.com This is not an offer to extend consumer credit as defined by Section of Regulation Z. Rates and terms are subject to change. Home loans are provided by partnership with CU Members Mortgage a division of Colonial Savings F.A. NMLS#

6 Contact Information Mailing Address Austin Telco Federal Credit Union 8929 Shoal Creek Blvd Austin, TX Phone Numbers Austin Metro Area: (512) Toll Free: (800) Regular Hours Monday, Tuesday, Wednesday & Friday All Lobbies 9:00 AM - 4:00 PM All Drive-Thru's 7:30 AM - 6:00 PM Contacts General Mailbox: atfcu@atfcu.org Questions, Comments, Concerns: memberfeedback@atfcu.org Online Banking Help: techsupport@atfcu.org Bill Pay Help: billpayservices@atfcu.org Department Extensions Bookkeeping: 7190 Loan Department/Member Services: 7194 Administrative Office: 7000 Thursday All Lobbies 9:00 AM - 6:00 PM All Drive-Thru s 7:30 AM - 6:00 PM Saturday Select Lobbies* All Drive-Thru s 9:00 AM 1:00 PM 9:00 AM 1:00 PM *La Frontera, Taos, Leander, Bastrop, Pecan Park, Brodie Lane, Georgetown, Lakeway, Cedar Park, Buda, San Mar - cos, Stone Hill, Tech Ridge, Taylor, Lockhart, University Oaks and Balcones Centre Management James D. Poplin, President/CEO Tony Rawls, SVP, Lending/CLO Karen Smith, SVP, HR & Branch Operations Robert Hernandez, SVP, Finance/CFO Raye Anne Cawthon, VP, Accounting Jim Howey, VP, Lending Pamela W. Cotton, VP, Member Services Christopher Mraz, VP, Information Technology/CIO Kathleen Miller, AVP, Administrative Services Sandie Peña, AVP, Branch Operations Georgia Hayes, AVP, Information Technology Jeannie Rowell, AVP, Lending enewsletter Editors Katrina Levenick, AVP, Marketing Nicholas Pokluda, Marketing Director Board of Directors Paul Paulsen, Chairman Larry Lantrip, Vice Chairman Steve Read, Treasurer Fran Berns, Secretary David Westlund, Security/Safety Officer Joe Bain, Membership Officer Paul Tidrick, Member Supervisory Committee Lea Luchsinger, Chairman Irene Guerra, Secretary Marsanna Beseda, Member Federally Insured by NCUA