APRIL 2020 NEWSLETTER · dollars from their victims. They use phone, email, text, and online social platforms to deceive their victims into handing over financial or personal information.

Knowing Your Real Estate Loan Options

Notice: Dormant Accounts

Whether you’re buying a new home or transforming your current home, we have financing options to help you along the way.

Home MortgagesPurchasing a new home, whether you’re a first-time buyer or you’ve done it before, comes with a lot of decisions. We’re here to help you do what you love with the home loan options you need. So, over the years you can transform those four walls from a house to a home. Get pre-approved and secure a great rate.

You might be one of many homeowners who could benefit from refinancing your home, we can help with that. Refinancing and locking in a better rate on your loan could reduce your monthly payment and save money in interest over the life of the loan. A lower interest rate could allow you to build equity in your home more quickly.

Home Equity LoanAccess the equity in your home for home improvements like remodeling your kitchen or bath. A home equity loan allows you to borrow a lump sum of money repayable over a fixed term at a highly competitive rate. Home Equity Line of CreditSimilar to a Home Equity Loan, except that it is revolving. You can use and re-use your available line of credit as often as you need without having to reapply. Our variable rate HELOC loan is available on your primary home located within 100 miles of Tarrant County. We are fast and friendly with great rates and convenient access. All delivered with the credit union difference that puts you first.

Apply online or give us a call. at any FTWCCU Office near you.

ftwccu.org | (817)-835-5000 *Normal credit granting criteria applies. All loans subject to approval. Certain restrictions may apply.

Is your account dormant? A dormant account is an account that has not had any activity for one year.

Unfortunately, the escheat laws of the State of Texas require that an account without activity for a three-year period be sent to the State Treasury.

If your account is dormant, please deposit or withdraw $1 or more to prevent FTWCCU from having to send your account balance to the State Treasury. You may visit any of our locations to make a deposit, use the Mobile Remote Deposit feature on the free FTWCCU App, or you may mail your deposit to:

Fort Worth Community Credit UnionPO Box 210848

Bedford, Texas 76095-7848

If you have any questions, please call us at (817) 835-5000.

HolidaysMemorial DayClosed Monday, May 25

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Know Your Worth

APRIL 2020 NEWSLETTERworth

Your Credit Union Membership Matters

Be cautious – Do not share personal information unless you know the person requesting the information is who they claim to be.

Be aware - Monitor all statements and account activity periodically. Login online at ftwccu.org or download the free FTWCCU App today.

Protect your electronic devices – Protect your personal and financial information by using the keypad lock or desktop password screen. Don’t save passwords or sensitive information on your device in case it gets stolen.

Knowledge is power – Each year scam artists and identity thieves steal billions of dollars from their victims. They use phone, email, text, and online social platforms to deceive their victims into handing over financial or personal information. One of the best things you can do is to be knowledgeable about the various scams and tactics that are being used today.

Don’t respond – The latest scams are spoofing valid phone numbers to trick you into verifying personal information. Play it safe and just don’t respond. Our fraud team will NOT ask for your PIN! We will verify your name and the transaction in question - that’s it.

If you’re not sure, you can call FTWCCU directly at 817-835-5000 or the phone number listed on the back of your credit/debit card.

Download the FTWCCU MobiMoney App today. MobiMoney gives you the ability to manage your card from your smartphone - anytime, anywhere. You can turn your card on or off and set instant transaction alerts.

Here’s the bad news about any unexpected good news you receive in an e-mail from the Internal Revenue Service: It’s probably bogus. For example, the IRS will not contact you via e-mail, out of the blue, about a refund you didn’t know you had coming. Some have received e-mails - with convincing IRS logos - that display a refund amount and a link you must click on to get the refund.

The link leads to a mock-IRS Web page form that requires financial information, such as a Social Security and bank account number, user ID, password, mother’s maiden name, and the like. Victims enter this information, press “submit,” and Presto! Another identity thief now has the means to make a bank balance disappear. The bogus IRS e-mail is an example of phishing, which can lead to identity theft. It occurs when scammers use an authentic-looking e-mail to trick recipients into supplying personal financial data. Don’t take the bait - it’s expensiveAlthough phishing accounts for only a fraction of the Internet fraud committed each year, its sting goes deep. We offer a few clues that an e-mail may be from an IRS imposter:� Tortured English: Most phishing e-mails traced by the IRS originate outside the

United States. Look for grammar and spelling mistakes or unusual words and sentence structures.

� No forewarning: The IRS does not make initial contact with taxpayers via e-mail. Agents do correspond via e-mail, such as during some audit situations, but that doesn’t happen unless you provide them with your e-mail address first.

� Your gut reaction: If it sounds too good to be true - it probably is. Phishers exploit charity donorsPhishers also may pose as charitable organizations. Finding a list of a charity’s donors isn’t difficult, and criminals use the organization’s identity to go phishing. For example, they send e-mails telling donors that the charity has calculated the tax-deductible amount of their donations. Donors are asked to supply Social Security numbers or other personal data to retrieve the documentation they’ll need to claim the tax deductions. Don’t guess - ask the expertsThe best thing to do if you’re unsure whether an e-mail regarding taxes is legitimate is to check at irs.gov, call your local IRS office, or forward the email to [email protected]. Not only can you find the truth there - you may alert the IRS to a criminal who can be shut down before scamming another victim.

Contact: (817) 835-5000 @ [email protected] ftwccu.org

( FTWCCU Information As of February 29, 2020 Total Assets.............. $ 1,017,340,803 Total Members............... 87,582

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency

Tips to Prevent Fraud and ID Theft

IRS Imposters Among the “Dirty Dozen” Tax Scams

Kostas Luecker – Fort Worth Community Investments

The Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted on December 20, 2019. The Act contains

a number of independent provisions which are not necessarily directly related to each other. Below are 3 key provisions likely of most interest to our members. 1. Increased Required Beginning

Date for Required Minimum Distributions (RMDs) – The SECURE Act increased the age triggering required distributions to be taken from qualified employer retirement plans and IRAs from 70 ½ to 72. As an example, an individual who was born on or after July 1, 1949 will turn 70½ in 2020. Under the SECURE Act, they won’t have to take an RMD until they turn age 72. However, those who turned 70½ in 2019 will fall under old rules; they will get their initial RMD April 1, 2020, and will continue taking their required distributions each year

2. New Spend-down Limit on Inherited Money from Defined Contribution Plans and IRAs (Non-Spouse Beneficiaries) – The SECURE Act imposes a 10-year distribution limit for most non-spouse beneficiaries to spend down inherited defined contribution plans and IRAs.

3. Post-70½ IRA Contributions – The prohibition on making

deductible contributions to a traditional IRA after age 70½ is repealed.

The Secure Act- Top Three Provision’s

Upon request, members of FTWCCU may review:balance sheet, income statement, summary of annual audit, form 990, articles of incorporation, bylaws, and Board policies.

Securities offered through LPL Financial, Member FINRA/SIPC. Not NCUA insured. May involve loss of principal. No credit union guarantee. Fort Worth Community Investments and Fort Worth Community Credit Union are not registered broker/dealers, nor affiliated with LPL Financial.

This credit union is incorporated under the laws of the State of Texas and under state law is subject to regulatory oversight by the Texas Credit Union Department. If any dispute is not resolved to your satisfaction, you may file a complaint against the credit union by contacting the Texas Credit Union Department at 914 East Anderson Lane Austin, Texas 78752-1699, Telephone Number: (512) 837-9236 Website: www.cud.texas.gov.