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Why Invest in an Austin Telco Share Certificate?

For members looking to earn higher yield on their savings, it's hard to beat the rates of an Austin Telco Share Certificate. Learn why you should invest in an Austin Telco Share Certificate:

Guaranteed or Fixed Rate Return

You're able to calculate your dividends upon maturity from the start. It's guaranteed earnings.

Short and Long Term Investing

With a wide range of terms to fit your individual needs, Austin Telco Share Certificates can be as short as six months or as long as five years.

Low or High Opening Deposit

Whether you have $1000 or $225,000 you want to invest, there is an Austin Telco Share Certificate that is right for you.

Click here to see our terms and rates. 


2019 Annual Business Meeting

The 78th Annual Meeting of Austin Telco Federal Credit Union was held on March 14, 2019, at 8929 Shoal Creek Blvd. Austin, Texas. Chairman, Paul Paulsen, called the meeting to order at 2:00 P.M. No old or new business was presented at the meeting. The election of directors was conducted by acclamation. Paul Paulsen, Steve Read and David Westlund were elected to three-year terms and Lea Luchsinger was elected to a one-year term. The Board gave recognition to former Board member Larry Lantrip who passed away in 2018 for the many contributions and outstanding job he did for Austin Telco. The meeting was adjourned at 2:15 P.M.


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Love My Credit Union Rewards

Austin Telco members get cash with no strings attached.

Your rewards are here. Austin Telco members get a $100 cash reward for every new line activated with Sprint®, now on unlimited lines. No strings attached - just cash.

Here's how to get cash rewards for every new line you activate with Sprint:

  1. Add a line to your new or existing Sprint account and mention that you're an Austin Telco member.
  2. Register at LoveMyCreditUnion.org/Melvin
  3. Cash rewards will be deposited directly into your Austin Telco account within six to eight weeks.

Already a Sprint customer?

Register now to receive a $100 loyalty cash reward every year starting one year after registration.

Get cash rewards!

Visit LoveMyCreditUnion.org/Melvin to learn more.


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What's the Difference Between Mortgage Pre-Qualification vs. Pre-Approval

When buying a home, we hear the terms pre-approval and pre-qualification thrown about all the time – especially when it comes time to dive in for that mortgage loan. Many folks think they are the same thing. In fact, they are actually quite different.

Securing a mortgage pre-approval and/or pre-qualification are crucial steps to getting a home loan that’s affordable based on your current financial status. Buying a home is obviously one of the biggest financial commitments you’ll ever make, so you don’t want to go into this transaction guessing: “will this work or won’t it work?”

So let’s look at the differences to eliminate any guessing when dealing with a life-changing purchase.

Mortgage pre-qualification

Pre-qualification means that a lender has evaluated your “creditworthiness” and has decided that you probably will be eligible for a loan up to a certain amount.

Most often, however, the pre-qualification letter is an approximation—not a promise—based solely on the information you give the lender and its evaluation of your financial prospects.

The analysis is based on the information the buyer has provided the lender. This information may not take into account the buyer’s current credit report. It also doesn’t look past the statements the buyer has made about their income, assets, and liabilities.

In a nutshell, a pre-qualification is simply a financial snapshot that gives the buyer an idea of the mortgage for which they might qualify.

A pre-qualification can be helpful if the buyer is completely unaware of their current financial position regarding a mortgage amount – what they can afford. It certainly helps if beginning stages of looking to buy a house.

Mortgage pre-approval

A pre-approval is a statement from a lender declaring the buyer qualifies for a specific mortgage amount based on an underwriter’s review of all of their financial information: credit report, pay stubs, bank statement, salary, assets, and obligations. It’s a more solid declaration of approval because the underwriter has already reviewed their qualifications and determined eligibility.

A pre-approval should mean your loan is contingent only on the appraisal of the home the buyer chooses, providing that nothing changes in their financial profile prior to closing on the house. A pre-approval letter lets the seller know they are ready to buy.

Because of the deeper review of the qualifications by an underwriter, the pre-approval letter has more power if a bidding war would happen on the house you are pursuing. To receive a pre-approval letter, you will need to work through the details and some paperwork with a loan officer to have an underwriter review the qualifications and issue the letter.

A pre-qualification is helpful in determining how much a lender is willing to lend you. A pre-approval letter makes a stronger impression on sellers and lets them know that the buyer has the cash to back up a strong offer.

Mortgage Specialist Mark Crowley, Senior Loan Officer NMLS#: 458989, Office: 512-407-3188, Toll Free: 800-607-3474 Ext. 3282,markc@homeloancu.com

This is not an offer to extend consumer credit as defined by Section 1026.2 of Regulation Z. Rates and terms are subject to change. Home loans are provided by partnership with CU Members Mortgage a division of Colonial Savings F.A. NMLS#401285.


Visit ftc.gov/phishing to learn about Phishing Scams.


Due to new Federal Reserve Board rules, Austin Telco has implemented a requirement for all checks deposited through mobile deposit to add “For ATFCU Mobile Deposit Only” along with your account number and signature. This will prevent duplicate deposits of the same check. Failure to use the required endorsement verbiage could result in your deposit being rejected. If you have any questions regarding the mobile deposit requirement, please contact 512-302-5555 Ext. 7190 during regular business hours.


Yes, Young Growing Families Can Save & Invest

It may seem like a tall order, but it can be accomplished.

Provided by Austin Telco Retirement & Investment Services

Put yourself steps ahead of your peers. If you have a young, growing family, no doubt your to-do list is pretty long on any given day. Beyond today, you are probably working on another kind of to-do list for the long term. Where does “saving and investing” rank on that list?

For some families, it never quite ranks high enough – and it never becomes the priority it should become. Assorted financial pressures, sudden shifts in household needs, bad luck – they can all move “saving and investing” down the list. Even so, young families have strategized to build wealth in the face of such stresses. You can follow their example.

First step: put it into numbers. How much money will you need to save by 65 to promote enough retirement income and to live comfortably? Are you on pace to build a retirement nest egg that large? How much risk do you feel comfortable tolerating as you invest?

A financial professional can help you arrive at answers to these questions and others. They can help you define long-range retirement savings goals and project the amount of savings and income you may need to sustain your lifestyle as retirees. At that point, “the future” will seem more tangible, and your wealth-building effort, even more purposeful.

Second step: start today & never stop. If you have already started, congratulations! In getting an early start, you have taken advantage of a young investor’s greatest financial asset: time.

If you haven’t started saving and investing, you can do so now. It doesn’t take a huge lump sum to begin. Even if you defer $100 worth of salary into a retirement account per month, you are putting a foot forward. See if you can allocate much more. If you begin when you are young and keep at it, you may witness the awesome power of compounding as you build your retirement savings and net worth through the years.

Of course, this may not be enough, and you may find that you need to devote more than $100 per month to your effort. If you strategize and escalate your savings over time, you may very well generate enough money for a very comfortable retirement.

Merely socking away money may not be enough, either. There are a wide variety of choices you can make – perhaps alongside a trusted financial professional – that may help position you and your household for a comfortable future, provided you keep good financial habits along the way.

How do you find the balance? This is worth addressing – how do you balance saving and investing with attending to your family’s immediate financial needs?

Bottom line, you should consider finding money to save and invest for your family’s near-term and long-term goals. Are you spending a lot of money on goods and services you want rather than need? Cut back on that kind of spending. Is credit card debt siphoning away dollars you should assign to saving and investing? Fix that financial leak and avoid paying with plastic whenever you can.

Vow to keep “paying yourself first” – maintain the consistency of your saving and investing effort. What is more important: saving for your child’s college education or buying those season tickets? Who comes first in your life: your family or your luxuries? You know the answer.

It has been done; it should be done. There are people who came to this country with little more than the clothes on their backs who have found prosperity. It all starts with belief – the belief that you can do it. Complement that belief with a strategy and regular saving and investing, and you may find yourself much better off much sooner than you think.

https://www.atfcu.org/investments.htm

Douglas Mitchell

Douglas Mitchell
Financial Advisor

512-407-3186
Alt: 512-733-5678
douglas.mitchell@cunamutual.com

Joshua Lowy

Joshua Lowy
Financial Advisor

512-407-3197
Cell: 941-705-1123
joshua.lowy@cunamutual.com

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.
Dollar-cost averaging does not protect against a loss in a declining market or guarantee a profit in rising market. Dollar-cost averaging is the process of investing a fixed amount of money in an investment vehicle at regular intervals, usually monthly, for an extended period of time regardless of price. Investors should evaluate their financial ability to continue making purchases through periods of declining and rising prices. The return and principal value of stock prices will fluctuate as market conditions change. Shares, when sold, may be worth more or less than their original cost.

Austin Telco Retirement & Investment Services Advisors are registered representatives of CUNA Brokerage Services, Inc. Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), memberFINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No financial institution guarantee. Not a deposit of any financial institution. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America.

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