CU CONNECTION. Back to BASix. In This Issue. Spring 2018 WHY IS YOUR CREDIT REPORT IMPORTANT?

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1 CU CONNECTION Spring 2018 In This Issue Why Is your Credit Report Important? The Speed Into Spring Loan Thank You Mary Lou! Holiday Closings Other Important Dates Thankful Thursday Greenpath Shred Event Aflac MyCardRules Free FICO Credit Score Empowerhouse What Is Estate Planning? Annual Meeting Reminder Youth Saves The higher your credit score, the more likely you are to have access to credit. Federally Insured by NCUA Back to BASix WHY IS YOUR CREDIT REPORT IMPORTANT? Your credit report is a picture of how you look to potential lenders, service providers, insurers and landlords. It is a reflection of your credit history and shows how you have handled your financial commitments in the past. To make it easier to understand, your credit report is distilled down to a number called a credit score. Your credit score is simply a numeric representation of your credit history. It s pretty easy to understand and use. Scores range from a low of 300 to a high of 850. Any score under 649 is considered Poor to Bad. Scores between 650 and 699 are considered Fair and scores between 700 and 747 are considered Good. Anything over 750 is Excellent. So what is the difference between a Poor credit score and an Excellent credit score? The higher your credit score, the more likely you are to have access to credit. Those with lower credit scores can expect to pay more in interest on loans if they can get them at all. How do you improve and maintain a high credit score? There are a number of factors that go into the calculation of the credit score but the simplest answer is to pay your debts and bills on time and don t take out too much debt relative to your income. Also, you should monitor your credit report for payments that have been reported as late when they were on time and look for items that are on your credit report that don t belong there. Look for credit cards or other loans that you never applied for. To make this easier, your credit union provides a free FICO credit scores each month. If you see your credit score from the credit union change dramatically from one month to another, you might want to see what has changed on your Equifax credit report. Once a year, you can take advantage of the government mandated free credit report available thru the website annualcreditreport.com. The credit union provides a link on the website for you. The bottom line: the lower your score, the more difficult and costly it will be to borrow money. The higher your score, the easier and cheaper it will be to borrow money. Pay your bills on time. Keep your unsecured debt to income ratio at a minimum and pay more than the minimum monthly payment if you can. You won t see an increase over night, but over time you will see your credit score rise. If you need additional assistance with budgeting or credit counseling, you can reach out to our preferred financial wellness partner: GreenPath at or Bruce A. Six, CEO Feel free to Bruce at Bruce.Six@NSWCFCU.org.

2 Thankful Thursday NSWC Federal Credit Union s Marketing Department has started a new celebration called Thankful Thursday. The last Thursday of every month, they choose places to show our community how thankful we are for them. In January the team surprised guests at Starbucks locations in Fredericksburg and King George with free coffee. In February the team visited Chick-Fil-A in Fredericksburg and McDonald s in King George and purchased breakfast for all military and first responders that came in. Keep an eye out on social media for the next Thankful Thursday! SHRED EVENT! EMPOWERHOUSE is a non-profit organization that supports the city of Fredericksburg and the surrounding counties. Through donations and grants, they are able to help thousands of women and children that are victims of domestic violence. One of their largest ways of receiving donations for the year is their Empty Bowl event that NSWC Federal Credit Union has proudly participated in for the last 3 years. Because of your kindness and generosity, nearly $60,000 was raised to make a critical difference in the lives that live among us there are no words big enough to say thank you. Kathy Anderson, Empowerhouse Executive Director June 16th our Massaponax Branch At our NEW Massaponax location! Help protect yourself from identity theft Federally Insured by NCUA *4 box limit. NSWC Federal Credit Union AFLAC During the month of February, we collaborated with Aflac by hosting a showcase for all government employees to come by and sign up at our Plaza location. An Aflac representative stayed on-site answering all questions and starting policies for anyone eligible that stopped by. To find out how you are eligible for Aflac contact our representative, Michele Payne, at: michele_payne@us.aflac.com

3 MYCARDRULES TM Finances at your fingertips. You will have the ability to: Turn your card on or off from your phone Set up text notifications to prevent fraudulent activity on your cards Control how much is spent on your cards and where Parental Controls FREE GREENPATH FICO NSWC Federal Credit Union is happy to announce that we are now offering our members financial help through GreenPath. CREDIT SCORE We are excited to let you know about a new feature now available! As a valued NSWC FCU customer, you can now view your FICO Score for free. GreenPath is our preferred financial wellness partner that can help with anything from debt management to making a budget. Most of their services are free to you. If you visit their website, you can find the following and much more: This new feature enables you to: Have free online access to your FICO Score See the key factors that affected your FICO Score Read educational content on FICO AND MORE! Scores and financial health and more NSWC FCU will update your FICO Score monthly, but remember that viewing your FICO Score will not impact it so visit the site as often as you want. Visit and log in to your online account to view your FICO Score. Haven t signed up for online banking yet? Now is the time to Enroll! FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries. NSWC Federal Credit Union is Federally Insured by NCUA. Games Financial Literacy Calculators Budget Templates Educational Videos Financial Courses Call or visit for more information.

4 WHAT IS Estate Planning? Estate planning is the process of accumulating, preserving and distributing assets to achieve the financial goals of people during their lifetimes, and to provide for their heirs according to the estate owner's wishes at death, while minimizing estate settlement costs. As such, estate planning is not a one-time event. Instead, it is an ongoing process designed to accomplish accumulation, preservation and distribution objectives, both during lifetime and after death. Your estate consists of all property owned by you at your death, including: The family home and other real estate, bank accounts, investment accounts, retirement plan assets, life insurance policies, business interests and personal property like jewelry, artwork, and automobiles. Estate Planning Objectives: ACCUMULATION - Estate accumulation objectives involve accumulating assets and net worth during your lifetime by systematically allocating money to savings, insurance, retirement and investment plans. PRESERVATION - Estate preservation objectives include protecting your ability to earn an income during your working years and planning to minimize and offset estate shrinkage at your death. DISTRIBUTION - Estate distribution objectives deal with identifying and implementing the tools and techniques that will distribute estate assets to your heirs in an advantageous manner that is consistent with your wishes. Depending on your unique situation and your estate planning goals, your estate planning team may include an attorney, an accountant and a financial advisor. Your team will work with you to determine if and how you use any of these estate planning tools to achieve your estate planning goals: WILL - A will is the most basic estate planning tool. It states the actions you wish to have taken after your death in regard to the disposition of your property, the guardianship of any minor children and the administration of your estate. TRUSTS - A trust is a legal device for the management of property. BENEFICIARY DESIGNATIONS - If you have an employersponsored retirement plan, an IRA, life insurance or an annuity, it s likely that you named a beneficiary to receive the proceeds at your death. ADVANCE DIRECTIVES - Advance directives are a way to have your say about the health care you receive (or don t receive) in the event you become unable to make health care decisions for yourself. FINANCIAL POWER OF ATTORNEY - With a financial power of attorney, you give a trusted person the authority to handle your finances and your property in the event you become incapacitated and unable to handle your own affairs. Creating an estate plan could seem overwhelming. Please contact us a NSWC Financial Services to begin some discussions about your estate planning. We would be happy to be part of your planning team. Please contact us at NSWC Financial Services for a review of your financial security by calling (540) Securities, investment advisory and financial planning services offered through qualified registered representatives of MML Investors Services, LLC Member SIPC, Supervisory Office: Overlook 1, 4880 Sadler Road, Suite 110, Glen Allen, VA , Tel: NSWC Financial Services is not a subsidiary or affiliate of MML Investors Services, LLC or its affiliated companies CRN * NOT A BANK OR CREDIT UNION DEPOSIT OR OBLIGATION * NOT GUARANTEED BY ANY BANK OR CREDIT UNION * NOT FDIC OR NCUA INSURED * MAY GO DOWN IN VALUE *NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

5 U Speed into Spring LOAN LOAN refi or buy and enjoy Speed into Spring % CASH BACK up to $500 Speed into Spring Rates may vary depending on individual credit history and underwriting terms. Promotional 1% cash back is available for auto, motorcycle, boat, RV, ATV and Jet Ski loan applications received between May 1, 2018 and May 31, 2018.*The cash back will be deposited into the member s savings account approximately 90 days after loan closing, upon verification of on-time monthly payments. Maximum cash back amount is $500 per loan. Cash back amounts are subject to all applicable taxes and are the responsibility of the member. Offer available for the purchases and renancing of non-nswc Federal Credit Union loans only. Minimum loan amount $5,000, maximum loan amount $100,000 with loan terms from 12 to 180 months. Membership eligibility is required. All credit union loan programs, rates, terms and conditions are subject to approval and change at any time without notice. Contact the credit union for complete details. Federally insured by NCUA.

6 Locations Dahlgren/King George Naval Support Activity South Potomac Dahlgren Road Plaza Branch 5472 James Madison Parkway PHONE NUMBERS (540) Fax (540) Fredericksburg Augustine Branch 2004 Augustine Avenue Southpoint Branch 5422 Southpoint Plaza Way PHONE NUMBERS (540) Fax (540) Mailing Address P.O. Box 519 Dahlgren, VA P.O. Box 519 Dahlgren, VA PRSRT STD U.S. Postage PAID CUAdvantage HOLIDAY CLOSINGS MEMORIAL DAY Monday, May 28 INDEPENDENCE DAY Wednesday, July 4 OTHER IMPORTANT DATES TAX FILING Tuesday, April 17 ANNUAL MEETING Tuesday, April 24 LOST SOCK MEMORIAL DAY Wednesday, May 9 DANCE LIKE A CHICKEN DAY Monday, May 14 DONALD DUCK DAY Saturday, June 9 Annual Meeting Reminder DATE: April 24, 2018 TIME: 3:30 p.m. doors open PLACE: King George Citizen Center 4:00 p.m. meeting begins Voting ends April 16th. There will be 1 drawing for a $250 gift card at the end of the meeting. Thank You Mary Lou It is with many emotions that we bid a warm farewell to Mary Lou Walsh. Mary Lou has served on the Credit Union s Supervisory Committee since For over 10 years, Mary Lou was a vital asset and bright light in our wonderful group of volunteers. We wish Mary Lou the relaxing and fun retirement that she deserves. She will be greatly missed at the Credit Union.