Let it Save, Let it Save, Let it Save

Transcription

1 CU F E A T U R E D VA Pittsburgh Employees Federal Credit Union Winter 2017 Vol. 13 No. 1 A R T I C L E Holiday Greetings from the President and Chairman of the Board of YOUR Credit Union As we approach the end of 2017 and begin to think about 2018, I would like to take a brief moment to look back on the progress YOUR Credit Union has made. Our market capitalization is up; our loan portfolio has increased; employee compensation and benefits have increased; and membership has stabilized. Perhaps the biggest improvement is in our CAMEL rating. Every year YOUR Credit Union is audited by the National Credit Union Administration (NCUA). The NCUA examiners look at all aspects of our operation and then deliver a rating in five critical areas. These are Capital Adequacy, Asset Quality, Management, Earnings, and Liquidity/AssetLiability Management. The scores range from 1 to 5 with 1 being the best. Historically, YOUR Credit Union has been in the 3 range an occasional 2. Our current rating is straight 2 s. This is a phenomenal achievement and I congratulate YOUR Credit Union management team of Shirley Cannata and Barb Zalewski as well as their staff that made this happen. The Management Team and the staff are only two parts of the larger team that makes the VA Pittsburgh Employee Federal Credit Union great. The Supervisory Committee conducts internal audits and ensures internal controls are followed and the Board of Directors provides strategic planning and operational policies to the Management Team. The fifth and most important component to the VAPEFCU is YOU. Thank you for your trust and your business. Consider us for all your banking needs. We have a wide range of services to serve you. Encourage your co-workers to join. Come to the Annual meeting. Join the Supervisory committee and give the Credit Union a few hours of your time every month. Run for office on the Board of Directors. Become more involved. So may your Thanksgiving, Christmas, New Year, Kwanzaa, Hanukkah or any other holiday celebrations be merry, joyous and safe. See you in Jerry DiGennaro President and Chairman of the Board Let it Save, Let it Save, Let it Save Don t let the next holiday season catch you financially unprepared. Open your VA Pittsburgh Employees Federal Credit Union Christmas Club Account and have cash on hand when you need it most no more relying on credit! Benefits of a Christmas Club Account: Add funds whenever you want Automatically transfer funds from another VA Pittsburgh Employees Federal Credit Union Account, or add funds with payroll deduction Ensure you have money to deck the halls this year. Open your Christmas Club Account at your nearest branch or call (412) today for more information. HOLIDAY CLOSINGS Monday, January 15 Martin Luther King Jr. Day Monday, February 19 Presidents Holiday Page 1

2 Plan Now To Attend The 2018 Annual Meeting Find out how the credit union made a difference for members in 2017 and what s on tap for the coming year by attending the 2018 annual meeting. Learn the results of the board of directors election. Catch up with your credit union friends, and meet new ones, too. At the credit union, you re not just a customer. As a member-owner, you have a stake and a voice. The annual meeting is your opportunity to keep abreast of the credit union s future direction. After all, it s not something you re likely to be able to do at other financial institutions, where only the stockholders are invited to participate. The credit union is where you belong, so we hope you will be able to join your fellow members at the 2018 annual meeting. The annual meeting of the VA Pittsburgh Employees Federal Credit Union will be held at the University Drive campus Bldg. 1 Room AE123 and at the Heinz campus Bldg. 71 Room 1C153 on Friday March 23 at 11:15 AM. The doors will open at 11:00 AM for light refreshments and the meeting will start promptly at 11:15 AM. The meeting should be over by 11:45 AM The meeting is held for the following purposes: 1. To elect 3 directors of the Credit Union and; 2. To transact any other business that may properly come before the meeting or adjournment of the meeting. In order to be a Director, the candidate must meet the following conditions: Be a member in good standing of the VAPGHEFCU. They cannot have been convicted of a crime involving dishonesty or breach of trust. Be at least 18 years of age as of March 23, 2018 Unless already acquired, then within 6 months of election, acquire the ability to have a working familiarity with basic finance and accounting practices, including the ability to read and understand the federal credit union s balance sheet and income statement and to ask, as appropriate, substantive questions of management and the internal and external auditors. Persons interested in running for a position on the Board of Directors, including those incumbents seeking re-election, must submit a biographical statement and a statement that they are willing to serve if elected to the Nominating Committee at the following address. VA Pittsburgh Employee Federal Credit Union Post Office Box Pittsburgh, PA ATTN: NOMINATING COMMITTEE Submissions must be postmarked by Friday January 12, 2018 to be considered by the Nominating Committee. From those submissions, the Nominating Committee will develop a slate of qualified candidates for election at the Annual Meeting. If there are more qualified candidates than positions, ballots will be mailed to the membership. In either case, the election results will be announced at the Annual Meeting. Branch Locations and Hours VA Pittsburgh Employees Federal Credit Union 1010 Delafield Road Pittsburgh, PA Hours of Operation Monday-Friday..8 am to 3:30 pm Heinz Branch Administration Building Building 70, First Floor Phone: Fax: University Drive Branch Building 1, Ground Floor Room AE148 Phone: Fax: NEW YEAR. NEW BEGINNINGS! Need some relief from holiday bills? We can help! Rates are as low as 6.75% APR* *APR = Annual Percentage Rate. THERE WILL BE NO NOMINATIONS FROM THE FLOOR OF THE ANNUAL MEETING. Page 2

3 Financial Fitness 101: Start The New Year With A New Budget As we say farewell to 2017 and usher in a new year, perhaps we re thinking about ways to grow and change in Resolving to save money and be more financially responsible in the year ahead is a smart goal and one that many people make. However, it can be a difficult resolution to keep, if not well thought out. Take comfort in knowing that, as a VA Pittsburgh Employees Federal Credit Union member, you have the expert knowledge and resources that come with a trusted financial institution. Dedicated to your financial fitness, VA Pittsburgh EFCU offers a plethora of products and services to boost you to pro status when it comes to saving and budgeting. Whether you re in need of basic savings accounts and online budgeting tools, or require budgetary counseling programs and financial literacy, VA Pittsburgh EFCU is here to help you get on track and take your finances to the next level. While VA Pittsburgh Employees Federal Credit Union offers these invaluable tools to keep your budget on track, below are some additional tactics to manage your finances throughout 2018 and for years to come: Set goals in writing. Keep a prioritized list of how much you want to save weekly, monthly, even yearly, and where you want to cut back spending. Keep a spending diary for at least 2 weeks. This will give you a clear idea of exactly how much you re spending and on what. You may be surprised to discover wasteful habits and opportunities for saving. Pay yourself first. As soon as you earn money, deposit a portion into your VA Pittsburgh EFCU Share Account. Open a Money Market Account or CD. Once you have a savings base, and a little extra cash on-hand, consider one of these higher interest accounts to help you save faster. Reward yourself. Don t forget to allow for spend money in your budget - everyone needs some fun whether it s vacationing, dining out, or just seeing a movie. SWEET DEALS ON YOUR NEW SET OF WHEELS You will fall in love withour auto loan rates andconvenient repayment terms! NEW AUTO LOANS AS LOW AS 1.99% APR USED AUTO LOANS AS LOW AS 2.50% APR *APR = Annual Percentage Rate. Beware Of Online Tax Fraud Being able to file your taxes online may have simplified this April ritual, but it s also made it easier for cybercriminals to claim your tax refund. In the 2016 season, the IRS reported a roughly 400 percent increase in cyberattacks on tax filers. There s no reason to believe the 2017 tax season will see any less crime. The Department of Homeland Security has launched a Stop. Think. Connect. campaign to encourage consumers to protect themselves from online tax fraud by taking these measures: Avoid giving out personal information, unless it is to a trusted entity like the credit union. Watch for fake messages or websites purportedly from the IRS or tax preparation services; DHS warns that sites can look quite legitimate, so examine them carefully. Don t believe promises of free money from inflated refunds. Back up data and store your electronic tax files securely. Never share personal information over an insecure network. Look for https: in the URL and a lock sign. Also, know that the IRS only uses written communications to connect with taxpayers to request personal information. Any electronic communication - , text, or social media - is fake. Page 3

4 VA Pittsburgh Employees Federal Credit Union Members Get Exclusive Discounts from Love My Credit Union Rewards Everyone loves to save, especially on products and services you use every day. That s what Love My Credit Union Rewards is all about. Members have saved nearly $2 billion in discounts from valued partners through Love My Credit Union Rewards. You can save too with valuable discounts from these partners: $100 cash reward with every new line activated with Sprint! Current customers will receive a $50 cash reward for every line transferred into Sprint Credit Union Member Cash Rewards. Plus, get a $50 loyalty cash reward every year for every line.* Save up to $15 on TurboTax federal products! Get an exclusive smoke communicator and a $100 gift card with a new ADT monitored home security system. Call to activate this special offer. Get trusted protection at true savings with the TruStage Auto & Home Insurance Program. Shop and get cash back at over 1,500 online retailers with Love to Shop To find out more and learn about other valuable discounts, or LoveMyCreditUnion.org. You get all these offers and discounts just for being a member of VA Pittsburgh Employees Federal Credit Union *Activ. Fee: Up to $30/line. Credit approval req. Sprint Credit Union Member Cash Rewards Offer: Offer Ends 12/31/2018. Avail. for eligible credit union members and member employees (ongoing verification). Tax ID req. to establish business acct. Switch to Sprint and receive a $100 cash reward for each new smartphone line activation. Reqs. port-in from an active number (wireless or landline). Existing customers receive a $100 cash reward for each new smartphone line activation and/or a $50 cash reward for each smartphone line transferred to program. New lines req. activation at point of sale. Max 15 lines. Sprint acct must remain active and in good standing for 31 days to receive Cash Reward. Excludes MBB devices, tablets and Sprint Phone Connect, upgrades, replacements and ports made between Sprint entities or providers associated with Sprint (i.e. Virgin Mobile USA, Boost Mobile, Common Cents Mobile and Assurance.) May not be combinable with other offers. $50 Loyalty Cash Reward: Members can earn one $50 cash reward annually when Sprint acct remains active and in good standing for 1 year. Max 15 lines. Cash Reward: Cash Reward issued by CU Solutions Group. Allow 6-8 wks for Cash Reward to be deposited to your Credit Union acct. If the Cash Reward does not appear after 8 wks, visit lovemycreditunion.org/sprintrewards. Other Terms: Offers/coverage not avail. everywhere or for all phones/networks. May not be combinable with other offers. Offer, terms, restrictions, and options subject to change and may be modified, discontinued, or terminated at any time without notice. Restrictions apply Sprint. All rights reserved. Sprint and the logo are trademarks of Sprint. Other marks are the property of their respective owners. Holiday Help From Your Credit Union The holidays are behind us, but that doesn t mean scammers are taking a break. In order to protect your money, here are some tips for keeping your accounts and information safe: Change your login/username from your account number. For example, if you have 1234 change it to JJones01. Utilize all characters in your password: Uppercase, lowercase, symbols, and numbers. Keep your password confidential. Make use of anti-virus protection software. Beware of questionable s. VA Pittsburgh Employees Federal Credit Union will NEVER ask you to your account information because we already know who you are. Notify us IMMEDIATELY if you think you have submitted account details to the wrong place. Page 4 Thank You Members! As we celebrate the 2017 Thanksgiving holidays, we d like to extend our appreciation to you, our valued memberowners. It s your participation in the benefits of belonging that enables the credit union to be successful. We couldn t do it without you because we wouldn t exist without you. If you are primarily a saver, we use those funds to help members who need loans. When you use your debit or credit cards, you not only enjoy the convenience, but also help provide the credit union with income to afford to bring you and others additional financial services. Thank you for being our member, and please let us know how we can serve you better.

5 Make The Switch To e-statements Simplify your life with e-statements. Getting an e-statement instead of a paper one in the mail is the easy way to keep track of your finances, and it s easier on the environment as well. Here s how it works: When your statement is ready shortly after the end of each month, we ll send you an . You can then go online, login to your account and check it out. Did all the checks clear? Does our balance agree with yours? What is the remaining balance on your loan? If everything is correct, just file it electronically, where it won t disappear under a pile of flyers. And, you won t have to worry about your personal information sitting in your mailbox or getting lost in transit when you have your mail forwarded when you are away. There is also $2.00 monthly fee for every paper statement mailed. So make the switch to e-statements and save! Call, click, or stop by the credit union. Loan Rates Type Maximum Term Rate* Share Secured Share Secured Loans are as low as 3.50% above the current dividend paid on regular shares New Vehicle 5 Year Value of vehicle up to 60 months as low as 2.25% 6 Year Value of vehicle 61 to 66 months as low as 2.49% 7 Year** Value of vehicle 67 to 72 months as low as 2.74% 8 Year** Value of vehicle 73 to 84 months as low as 2.99% Used Vehicle Value of vehicle up to 60 months as low as 2.25% Value of vehicle up to 36 months as low as 3.00% Value of vehicle up to 48 months as low as 3.75% Value of vehicle up to 60 months as low as 4.00% Home Equity Contact the Credit Union for Home Equity Loan Rates. Signature Loan up to 1 year as low as 6.50% over 1 year as low as 7.00% *APR=Annual Percentage Rate. Rates effective as of 12/19/2017. All rates are subject to change without notice. Rates may change based on credit approval and terms. Call the credit union for current rate information. Equal Opportunity Lender. ** 6 Easy Ways To Keep Your Debit Card Safe This Season Tis the Season for merry making, gift giving, and lots of shopping. Keep in mind, while our guard is down and our wallets are open, it is also the prime season for phishers, skimmers, thieves, and their naughty antics. While your VA Pittsburgh Employees Federal Credit Union Debit Card is a handy tool that allows you to quickly and conveniently obtain cash from an ATM, make a PIN-based transaction at no charge, or get cash back at the register, it also leaves you vulnerable to theft because it offers access to instant cash. In order to take advantage of the financial convenience and purchasing power of your debit card, while keeping your funds and identity intact this holiday season, follow these surefire tips to maximize protection and safety: 1. Keeping track of every transaction so you don t overspend. 2. NEVER sharing your Personal Identification Number (PIN) code, with anyone. 3. Protecting your PIN. Avoid writing it down, keeping it in your wallet, or saving it on a computer. 4. Practicing ATM safety. Always be alert and go with your gut. 5. Monitoring your account by checking frequently. 6. Reporting to VA Pittsburgh EFCU immediately if you think your card has been lost or stolen. Page 5