eNewsletter April - June 2015 • 2015 Annual Business Meeting • Have You Budgeted for Retirement? In This Issue • Visa Checkout • Apple Pay Coming in April Mark Your Calendars All ATFCU branches will be closed in observance of: Memorial Day Monday, May 25th Independence Day Saturday, July 4th • Oak Hill: Opening in April 2015 Annual Business Meeting • Understanding Your Mortgage Options The 74th Annual Business Meeting of Austin Telco Federal Credit Union was held on March 5, 2015, at The Holiday Inn North Arboretum in Austin, Texas. Chairman, Paul Paulsen, called the meeting to order at 5:30 P.M. A quorum was determined to be present. After a member motion and a second, it was voted unanimously to dispense with the reading of the 2014 minutes. In the same motion the minutes were also approved. Reports were made by the Chairman of the Board, the Treasurer and the Supervisory Committee Chairman. No old or new business was presented at the meeting. The election of directors was conducted by acclamation and Liz Heiling and Fran Berns were elected to three-year terms. The meeting was adjourned at 5:45 P.M. • Should I Refinance My Vehicle Loan? Should I Refinance My Vehicle Loan? With interest rates remaining near record lows, refinancing your current vehicle loan could save hundreds of dollars a year, and sometimes thousands over the life of the loan. Refinancing your vehicle loan is quick and easy, and the benefits start immediately. While you’ll get the most savings by refinancing early in the loan term, there’s no limit as to when to refinance and start saving. Whether interest rates have dropped since you took out your loan, your credit has improved, or you just don’t feel you got the best rate from the dealership, refinancing may make sense for you. One call or a few clicks on your computer are all it takes to see if a refinance can save you money in both the short and long term. Don’t delay, while vehicle loan interest rates are still very low, they are poised to start heading back up. Contact a Loan Specialist with Austin Telco at 512-302-5555 x7194 or apply online at www.atfcu.org to see if a vehicle refinance can benefit you. as low as Auto Loans New, Used or Refinance APR 1 Up to 60 Mos. 1.59 % 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.
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eNewsletterApril - June 2015
• 2015 Annual Business Meeting
• Have You Budgeted for Retirement?
In This Issue
• Visa Checkout
• Apple Pay Coming in April
Mark Your CalendarsAll ATFCU branches will be closed in observance of:
Memorial Day Monday, May 25th
Independence Day Saturday, July 4th
• Oak Hill: Opening in April
2015 Annual Business Meeting
• Understanding Your Mortgage Options
The 74th Annual Business Meeting of Austin Telco Federal Credit Union was held on March 5, 2015, at The Holiday Inn North Arboretum in Austin, Texas. Chairman, Paul Paulsen, called the meeting to order at 5:30 P.M. A quorum was determined to be present. After a member motion and a second, it was voted unanimously to dispense with the reading of the 2014 minutes. In the same motion the minutes were also approved. Reports were made by the Chairman of the Board, the Treasurer and the Supervisory Committee Chairman. No old or new business was presented at the meeting. The election of directors was conducted by acclamation and Liz Heiling and Fran Berns were elected to three-year terms. The meeting was adjourned at 5:45 P.M.
• ShouldIRefinanceMyVehicle Loan?
ShouldIRefinanceMyVehicleLoan?With interest rates remaining near record lows, refinancing your current vehicle loan could save hundreds of dollars a year, and sometimes thousands over the life of the loan. Refinancing your vehicle loan is quick and easy, and the benefits start immediately. While you’ll get the most savings by refinancing early in the loan term, there’s no limit as to when to refinance and start saving.
Whether interest rates have dropped since you took out your loan, your credit has improved, or you just don’t feel you got the best rate from the dealership, refinancing may make sense for you.
One call or a few clicks on your computer are all it takes to see if a refinance can save you money in both the short and long term. Don’t delay, while vehicle loan interest rates are still very low, they are poised to start heading back up.
Contact a Loan Specialist with Austin Telco at 512-302-5555 x7194 or apply online at www.atfcu.org to see if a vehicle refinance can benefit you.
as lo
w asAuto Loans
New,UsedorRefinanceAPR1Up to 60 Mos. 1.59%
1Annual 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.
Oak HillOpening in April
Love shopping online, but hate all the hassles when it’s time to pay? Visa Checkout is a digital payment service that can make online payment as fun and easy as online shopping.
You can use it anywhere Visa Checkout is accepted — on the go with your tablet or smartphone, or at home with your computer. With Visa Checkout paying online is:
Add your Austin Telco Visa Debit or Credit Card to enroll. Then pay with Visa Checkout — it’s easy to spot!�
Skip typing in your card and shipping info every time. Just use your Visa Checkout login to pay.
Shop worry-free. Your info is stored behind multiple layers of security.
Using Visa Checkout is a snapJust enter your info once. Then simply:
1. Look for the Visa Checkout button
2. Enter your email and password
3. Confirm your purchase
It’s really that easy, so why not enroll now?
A new branch is on the way in Oak Hill!� This new location at 6233 W. William Cannon Drive is close to the intersection of HWY 290 and William Cannon. This location, set to open in April, will be a drive-thru facility similar to our Frontier Trail branch.
Apple Pay Coming in AprilAustin Telco FCU members will soon be able to use their Austin Telco credit and debit cards with Apple Pay!� Use Apple Pay with iPhone 6 to pay in stores without swiping your cards, and in apps without entering your payment contact information. Just pay with a single touch of your finger using Touch ID. When you make purchases using Apple Pay, a Device Account Number and transaction specific dynamic security code is used to process your payment. With this unique and secure method your card number is never shared with merchants. Go to www.atfcu.org to learn more.
Understanding Your Mortgage OptionsBuying a home is one of the most important financial decisions you’ll ever make. A home can be an excellent investment because most houses increase in value over the years. Just as important, the type of home you buy, its location, and the monthly mortgage payments you choose will shape your future and that of your family. This information will help you understand what options you have to consider as you work with your loan officer.
Conventional Mortgage: This mortgage is a contract between the lender and the borrower, at the lender’s risk. The borrower’s property is security, (which means the lender can take your home for nonpayment of the mortgage loans). As such, to protect the lender from any loss with the loan, you may be required to pay for mortgage insurance on this loan through a private mortgage insurance provider. Conventional mortgages usually require a larger down payment than FHA or VA loans.
Fixed Rate Mortgage: The interest rate on this loan stays the same for as long as you hold your mortgage, no matter how interest rates change in the financial markets. You know exactly how much you will pay in principal and interest on your home each month. Remember taxes and insurance may change from year to year.
RefinanceLoans: In recent years, many people have refinanced their home loans to take advantage of low interest rates. Some have also refinanced in order to obtain cash. In a refinance, you pay off your mortgage with a new loan. In a cash-out refinance, you increase the size of your debt in order to get cash at the closing table that you can use for other purposes.
Jumbo Mortgages: A loan with special terms for properties of very high value that fall outside typical lending standards.
FHA (Federal Housing Administration): The FHA will insure the loan for the lender against loss in case the buyer cannot make payments. It requires the buyer to carry mortgage insurance through FHA. FHA loans are available with as little as 3.5 percent down payments.
VA (Veterans Administration): The federal agency will guarantee the mortgages offered by private lenders to qualified members of the armed forces, active military personnel, veterans or their widows. In some cases, one can buy a home on a VA loan with no down payment.
Adjustable-Rate Mortgages: The initial interest rate on an adjustable-rate mortgage (ARM) is generally lower than of a fixed-rate loan. However, with an ARM, the interest rate may increase or decrease in the future, and the size of your payments will go up or down along with the rate. Most ARMs are hybrids, meaning the interest rate is fixed for a certain number of years after which the rate begins to float. The most common ARMs fix the initial rate for three, five or seven years. ARMs are most appropriate for people who have sufficient financial resources to handle potential payment increases or know that they plan to sell their home around the time the loan’s interest rate is set to change. If you are considering an ARM, be sure you know:
• What is the adjustment period (the time between interest rate changes)? • What index is used to determine interest rate? • Does the introductory rate differ from the normal rate? • What is the margin (the percentage added to the index rate each time your loan is adjusted)? • What is the period adjustment cap?
For more information contact:Mark Crowley512-302-5555 Ext. 7388NMLS # 458989
This is not an offer to extend consumer credit as defined by Section 1026.2 of Regulation Z. Home loans are provided by partnership with CU Members Mort-gage a division of Colonial Savings, F.A. NMLS#401285.
It’s important to think about what you’ll need in retirement BEFORE you retire. Run the numbers. Often people need about 70-80% of their end salaries in retirement, but this can vary. So years before you leave work, sit down for an hour or so (perhaps with the financial professional you know and trust) and take a look at your probable monthly expenses. Online calculators can help.
The closer you get to your retirement date, the more exact you will need to be about your income needs. You first want to look for changing expenses: housing costs that might decrease or increase, health care costs, certain taxes, travel expenses and so on. Next, look at your probable income sources: Social Security
(the longer you wait, the more income you can potentially receive), your assorted IRAs and 401(k)s, your portfolio, possibly a reverse mortgage or even a pension or buyout package.
While selling your home might leave you with more money for retirement, there are less dramatic ways to increase your retirement funds. You could realize a little more money through tax savings and tax-efficient withdrawals from retirement savings accounts, through reducing your investment fees, and getting your phone, internet and TV services from one pro-vider.
Budget-wreckers to avoid. There are a few factors that can cause you to stray from a retirement budget. You can’t do much about some of them (sudden health crises, for example), but you can try to mitigate others.
• Supporting your kids, grandkids or relatives with gifts or loans. • Withdrawing more than your portfolio can easily return.• Dragging big debts into retirement that will nibble at your savings. Budget well and live wisely. Creating a retirement budget makes a lot of sense. A well thought-out budget, (and the dis-cipline to stick with it), may make a big financial difference. For help with budgeting for retirement, speak to a qualified Financial Professional.
Have You Budgeted for Retirement
Eric LindnerFinancial [email protected]
Doug MitchellFinancial [email protected]
Statistically Speaking As of February 28th, 2015
Number of Members75,847Loans$508,660,718
Number of Checking Accounts43,895Deposits$1,169,396,766
Capital$146,090,248Assets1,317,467,555
Have You Budgeted for Retirement
Capital$146,090,248Assets1,317,467,555
eNewsletter EditorKatrina Levenick, AVP of Marketing
Federally Insured by NCUA
ManagementJames D. Poplin, President/CEOTony Rawls, SVP, Lending/CLOKaren Smith, SVP, HR & Branch OperationsRobert Hernandez, SVP, Finance/CFORaye Anne Cawthon, VP, AccountingJim Howey, VP, LendingPamela W. Cotton, VP, Member ServicesChristopher Mraz, VP, Information Technology/CIO Kathleen Miller, AVP, Administrative ServicesSandie Peña, AVP, Branch OperationsGeorgia Hayes, AVP, Information TechnologyJeannie Rowell, AVP, Lending
Board of DirectorsPaul Paulsen, ChairmanCharlene Spillmann, Vice ChairmanR.B. Smith, TreasurerLarry Lantrip, SecretarySteve Read, Membership OfficerFran Berns, Member Liz Heiling, Member
Supervisory CommitteeDavid Westlund, ChairmanJoe Bain, SecretaryPaul Tidrick, MemberLarry Lantrip, Board Liaison
Regular HoursMonday & Friday All Lobbies 9:00 AM - 6:00 PM All Drive-Thru's 7:30 AM - 6:00 PM
Tuesday, Wednesday & Thursday All Lobbies 9:00 AM - 4:00 PM All Drive-Thru's 7:30 AM - 6:00 PM
Saturday Select Lobbies* 9:00 AM – 1:00 PMAll Drive-Thru’s 9:00 AM – 1:00 PM
*La Frontera, Taos, Leander, Bastrop, Pecan Park, Brodie Lane, Georgetown, Lakeway, Cedar Park, Buda, San Marcos, Stone Hill, Tech Ridge, Taylor, Lockhart, University Oaks and Balcones Centre
Contact Information
Mailing AddressAustin Telco Federal Credit Union8929 Shoal Creek BlvdAustin, TX 78757
Phone NumbersAustin Metro Area: (512) 302-5555Toll Free: (800) 252-1310
Email ContactsGeneral Mailbox: [email protected], Comments, Concerns: [email protected] Help: [email protected] Pay Help: [email protected]
Department ExtensionsBookkeeping: 7190Loan Department/Member Services: 7194Administrative Office: 7000
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