IN THIS ISSUE. President s Message Become a Better Saver Top 5 Summer Scams Apple Pay is Here Building Better Credit

Transcription

1 IN THIS ISSUE President s Message Become a Better Saver Top 5 Summer Scams Apple Pay is Here Building Better Credit

2 PRESIDENTS MESSAGE As consumers, we do a lot things differently than we used to - many of us have changed how we book a flight, buy music, or watch TV and movies. The way we use and access financial services has changed too - we can scan cash into our accounts at ATMs, sign loan documents online, and take a picture with a smartphone to deposit a check. These changes are making a big impact on your credit union. As a member-owned, not-for-profit cooperative, we have an obligation to invest the credit union s resources in a responsible way - and in a way that returns the most value to the most members. With that in mind, our member-elected Board of Directors approved the closure of our Westcliffe location. We recognize that this closure may not be welcomed by everyone and we encourage you to let us know on your next branch visit. We ll be happy to work with you to explore alternatives available to you, whether it s a digital solution, an ATM or a nearby shared branch. As part of the Credit Union philosophy of People Helping People, it is in our core values to give back to our community. Every year our staff and volunteers work hard to raise money to help non-profit organizations in need. As we celebrate our 80th anniversary, we want to thank the community for making us a part of your lives. In late June we launched a project called 80 Days of Gratitude. We have selected eight local non-profit organizations (covering a wide range of causes) that we will be making tangible donations to. To learn more, or to follow the 80 Days of Gratitude project, visit our Facebook & Twitter pages. Have a happy and safe summer! Wherever life takes you, Minnequa Works Credit Union is never far away. The CO-OP logo welcomes you to over 5,000 branches nationwide. Find a Shared Branch near you... WEBSITE: co-opcreditunions.org/locator TEXT: text your zip code to CALL: SITE-COOP ( )

3 BECOME A BETTER SAVER IN 5 STEPS It s easy to postpone the habit to save, but a solid plan is the key to success. By following some basic guidelines, you re more likely to achieve financial security. We recommend beginning with these five steps: 1. START NOW. The earlier and more you save, the more your money will grow. With compounding interest, you earn interest on what you save, as well as on the dividends generated. 2. SAVE WHAT YOU CAN. It doesn t matter how much you save, just make sure you save consistently. Start with a comfortable amount (even $5 or $10 per paycheck), then slowly increase it. Ultimately, if you can put 10 percent of your paycheck to savings, you should be in great shape. 3. MAKE IT AUTOMATIC. Use automated transfers to get in the habit of saving. You can set up automatic transfers in Online Banking, through Mobile Banking or you can have your employer directly deposit a set amount into savings from your paycheck. 4. PLAN AHEAD. Open separate accounts for specific savings goals, such as vacations or holiday shopping. By putting money in accounts designated for specific goals, you are less likely to use the funds for other purposes. 5. TAKE ADVANTAGE OF SPECIAL RATES. While savings rates have been relatively low in recent years, that does not mean there aren t exceptions. Keep an eye out for special rates, bonuses and other promotions. Another option is to look at our IRA s and CD s. Ready to take the next step? Minnequa Works has savings accounts, term deposits and more to help meet your financial goals. Contact us today! TOP 5 SUMMER SCAMS Vacations Scams: Want to go to Disney for half the price? Just send us $100 and you get the deal of a lifetime...or a big swindle. Be careful. Moving Scams: Moving? Make sure to look up the company at bbb.org or you may end up paying way more than you expect to get your belongings back. Concert Scams: Watch out! Phony sellers will trick consumers into wiring money or paying cash for tickets that don t really exist. Door-to-door Sales Scams: Before saying yes, get all verbal promises in writing, including the start and completion dates in the contract. Job Scams: Be wary of employers who require fees for training or background checks and who tout no experience needed. That s a red flag. ww.bbb.org/council/consumer-education/tips/top-5-summer-scams/

4 COMMUNI $749 COULD BE YOURS! Members who sign up for e-statements, during the sweepstakes period (April April 2018), are automatically entered into a quarterly drawing to win $749. The first drawing will be on July 7, So what are you waiting for? Sign up online at MyMWCU.com, under the 749 Reasons banner ad. All active Minnequa Works Credit Union Members are eligible. Minnequa Works employees, volunteers and immediate family of either are not eligible to participate. Entrants must be legal U.S. residents and 18 years of age or older at time of entry. Sweepstakes is subject to all applicable federal, state and local laws and regulations and is void where prohibited by law. Florida residents are not eligible for this sweepstakes. For complete sweepstakes rules and qualifications visit MyMWCU.com and click on the 749 Reasons banner ad. With Mobile Check Deposit you can deposit checks anytime, anywhere. Simply sign the check, take a photo of the front and back of the check, submit it, and receive on screen confirmation that your deposit was received. To sign up for Mobile Check Deposit download our mobile app from the Apple Store or Google Play. Affordable (or Free!) Family Friendly Fun in Pueblo where you can catch some fresh air this summer: Lake Pueblo, The Nature Center, The Pueblo Zoo, The Pueblo Riverwalk, Community Parks, Drive-In Movies, Skate Parks, Farmer s Markets, Automobile Racetracks, Public Swimming Pools, Golf Courses, Frisbee Golf Courses & MORE - Don t forget the sunscreen!

5 TY BOARD PET OF THE QUARTER Want to win a month of pet food and see your pet on our Community Board? It s simple! 1. Sign up for e-statements, Text Banking or our App. 2. Send a creative photo of your pet to: contests@minnequaworks.com Photos must be submitted by the 25th of each month. All submitted photos will be voted on by your friends at Minnequa Works. Winners will be notified by phone. Congratulations to last quarter s winner Charlie, owned by Dorian. By signing up for e-statements, they have won a $100 gift card to buy a months worth of food. On June 30, 2017, our branch in Westcliffe closed its doors after 35 years. We know that this might pose an inconvenience, but products and services like Mobile Check Deposit, Online Banking, our live Contact Center, TeleWorks and others can make the distance between you and a physical Minnequa Works branch less of a factor. CO-OP Shared Branching along with your credit union membership, allows you to do many of the transactions you would do at Minnequa Works at any participating credit union or ATM as if it were your own credit union (over 5,000 credit unions & 30,000 ATMs nationwide). To learn more about any of our services visit mymwcu.com or give us a call at or toll free at Tator Tot Casserole INGREDIENTS 13 x 9 Casserole Dish 1 Ib. of Hamburger 1 bag of Tater Tots (frozen) 1 big can of Cream of Mushroom or Cream of Chicken Soup or 1 small can of each 1/2 cup of Parmesan Cheese Milk - Equal parts as soup (use either the large soup can once or the small soup can twice to measure the correct amount of milk) Preheat the oven to 450 degrees. In the casserole dish, add the soup and milk; mix thoroughly. Fry the hamburger, drain and season it well. Once the hamburger is cooked, mix it and the frozen tater tots into liquid mixture. Sprinkle Parmesan cheese on top, then place in the oven and let bake for 35 minutes. Take out, stir, and let cool until safe to eat. This recipe is from Ashley, who enjoys making this dish for her family. Her kids love it! Ashley will be celebrating 5 years with the Credit Union in October. Thanks for sharing Ashley!

6 IS THERE ANY WAY YOU CAN SEND ME THE IMAGE YOU ARE USING ON FACE BOOK? SEE ABOVE. COPYING THE IMAGE DID NOT WORK SO WELL! IF NOT I CAN FIND A NEW IMAGE. APPLE PAY is here! Transactions are now quicker than ever with this sweet new feature available with your Minnequa Works Mastercards (Credit & Debit)! Once you re enrolled in Apple Pay, you can make purchases and check out with the simple touch of your finger. Secure Transactions When you complete a transaction using your Minnequa Works Credit or Debit card with Apple Pay: Your name, card number and security code stay private You don t give your physical card to anyone Apple doesn t share your actual card numbers with retailers The retailer receives only a transaction-specific code to process your payment Because the payment code can only be used once, your accounts are better protected against fraud. And if there is a fraudulent charge, Mastercard s Zero Liability policy and ID Theft Protection protects you. Enrollment is simple Add your card to Apple Pay in three simple steps: 1. Open the Wallet app. 2. Tap the plus sign in the upper right corner. 3. Use your camera to add your Minnequa Works Mastercard credit or debit card. 4. Verify your card by calling Minnequa Works at or Paying in stores To pay in stores, there is no need to wake your iphone or open an app. Just hold iphone near the reader with your finger on Touch ID. You ll see Done on the display, along with a subtle vibration and beep, letting you know your payment information was sent. On Apple Watch, double-click the side button and hold the display of your Apple Watch up to the reader. A gentle tap and beep confirm that your payment information was sent.* Paying in apps and on the web To pay in apps and on the web with iphone and ipad, select Apple Pay as the payment method during checkout and place your finger on Touch ID. To pay on Mac in Safari, choose Apple Pay, then complete the purchase with your iphone or Apple Watch.* It s secure and private When you add your Minnequa Works Mastercard to Apple Pay, it assigns a unique Device Account Number instead of your actual card number. Accepted in great stores Apple Pay is accepted in grocery stores, boutiques, restaurants, hotels and so many places you already enjoy. Simply look for the contactless symbol at checkout when you want to make in-store purchases. Questions on how to get started? Call us! *Apple Pay works with iphone 6 and later in stores, apps, and websites in Safari; with Apple Watch in stores and apps; with ipad Pro, ipad Air 2, and ipad mini 3 and later in apps and websites; and with Mac in Safari with an Apple Pay enabled iphone 6 or later or Apple Watch. For a list of compatible Apple Pay devices, see Apple, the Apple logo, Apple Pay, Apple Watch, ipad, iphone, Mac, Safari, and Touch ID are trademarks of Apple Inc., registered in the U.S. and other countries. ipad Pro is a trademark of Apple Inc. To bring you this benefit, Mastercard has partnered with CSID, an industry leader in identity protection and fraud protection. CSID is a registered trademark of CSIdentity Corporation Mastercard. All rights reserved.

7 BUILDING BETTER CREDIT Like it or not, your credit score dictates everything from whether you re approved for a credit card to what rate you re offered on a mortgage and can even affect your job prospects. It s important to note that repairing bad credit is a bit like losing weight: It takes time and there is no quick fix. The best advice for building credit is to manage it responsibly over time. If you haven t done that, then you need to repair your credit history before you see your credit score improve. The tips below can help build or rebuild your credit. 1. Check Credit Report Before you do anything else, go to annualcreditreport. com and request a free credit report from each of the big three credit reporting companies: TransUnion Experian Equifax By law, you re entitled to one free report each year, no matter what. This step is important whether your just establishing your credit or are trying to repair it. Once you have the report, examine everything. Your credit report contains the data used to calculate your credit score and it may contain errors. If your establishing credit, check to make sure no one has stolen your identity. If your a new credit user with minimal history, your report should be clean. If you re rebuilding your credit, check to make sure that there are no late payments incorrectly listed for any of your accounts and that the amounts owed for each of your open accounts is correct. If you find any errors on any of your reports, dispute them with the credit bureau. 2. Pay Your Bills On Time Making your payments on time is one of the biggest contributing factors to your credit score. Delinquent payments, even if only a few days late, and collections can have a major negative impact. If you have missed payments, get current and stay current. The longer you pay your bills on time, after being late, the more your score should increase. Older credit problems count for less, so poor credit performance won t haunt you forever. The impact of past credit problems on your score fades as time passes and as recent good payment patterns show up on your credit report. If you have fallen into collection, be aware that paying it off will not remove it from your credit report. Collection accounts can stay on your report for seven years. 3. Reduce Your Debt This is easier said than done, but reducing the amount that you owe is going to be a far more satisfying achievement than improving your credit score. The first thing you need to do is stop using your credit cards. Use your credit report to make a list of all of your accounts, and then go online or check recent statements to determine how much you owe on each account and what interest rate they are charging you. Come up with a payment plan that puts most of your available budget for debt payments towards the highest interest cards first, while maintaining minimum payments on your other accounts. If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor. This won t rebuild your credit score immediately, but if you can begin to manage your credit and pay on time, your score should increase over time. 4. Stop Applying for New Lines of Credit That 10% discount for signing up for a store credit card may seem worth it in the moment, but your credit score will take a small hit for applying (whether you get approved or not). A hard inquiry will impact your credit score for a full year, though your score will start improving almost immediately after you apply and the impact will disappear at that 12-month mark. The hit is small (normally around 3 to 5 points) but if you re on the bubble between credit score tiers or applying for lots of credit offers in a short time span, you can do a lot of damage. If you have been managing credit for a short time, do not open a lot of new accounts too rapidly. Too many new accounts in a short period of time will lower your average account age, which will have a larger effect on your scores if you don t have a lot of other credit information. Also, rapid account buildup can look risky if you are a new credit user. Raising your scores after a poor mark on your report or building credit for the first time will take patience and discipline. To learn more about your credit visit, myfico.com or if you need to dispute an error on your credit report visit:

8 PRSRT STD U.S. POSTAGE PAID COLO SPGS, CO PERMIT NO. 1 HOLIDAY CLOSURES Independence Day: Tuesday, July 4, 2017 Labor Day: Monday, September 4, 2017 CALL US Service Center Toll Free TeleWorks Lost or stolen MasterCard (during business hours) Lost or stolen MasterCard (after business hours) US Help: memberservices@minnequaworks.com Loan Services: loans@minnequaworks.com BRANCH LOCATIONS MAIN BRANCH 1549 E. Abriendo Ave., Pueblo, CO EAGLERIDGE BRANCH 4700 Eagleridge Cir., Pueblo, CO NEPCO BRANCH 1010 Bonforte Blvd., Pueblo, CO HOURS: Lobby: Mon - Wed, Fri 8:30am - 5:00pm Thur 9:30am - 5:00pm Drive Up: Mon - Fri 8:00am - 6:00pm Sat 8:30am - 1:30pm ROCKY MOUNTAIN BRANCH 701 W. 8th St., Pueblo, CO HOURS: Lobby: Mon, Tues, Wed & Fri 8:30 am - 4:30 pm Thurs 9:30 am - 4:30 pm Drive Up: Mon - Fri 8:00am - 5:00pm Federally Insured by the NCUA, Loans subject to credit approval.