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eNewsletter October - December 2020

Annual Meeting | Board of Directors Nomination Process

Next March, two members will be elected to serve on the Board of Directors. The election process will be conducted in compliance with our Bylaws and Election Rules with the election taking place at the Annual Meeting on Tuesday, March 9th, 2021 at the Shoal Creek Branch starting at 2pm.

A Nominating Committee, appointed by the Chairman of the Board, will select and present nominees to the membership. Members seeking consideration for nomination by the Nominating Committee must submit a resume and current photo as well as complete an “Application for Nomination to the Board of Directors” form by Friday, November 20th, 2020. If the number of nominees equals the number of positions to be filled, other members may seek nomination by petition. There will be no nominations from the floor at the Annual Meeting. Any member seeking nomination by petition must submit a “Nomination by Petition Packet” along with a resume and current photo by Tuesday, January 26th, 2021. Applications and “Nomination by Petition Packets” will be available during normal lobby hours on Monday thru Friday in the Administrative Office at the Shoal Creek Branch located at 8929 Shoal Creek Blvd., Austin, TX, 78757. All required documents noted above must be filed with the Nominating Committee by the specified deadline by delivering them to the Administrative Office in the Shoal Creek Branch, Monday thru Friday, 8:30 a.m.- 3:30 p.m.

In order to vote in an election of the Credit Union, an individual must be: 1) a member having qualified within the Credit Union’s defined field of membership as set forth in the Credit Union’s Bylaws and 2) must own a regular share account as a primary member with a balance equal to or in excess of the minimum balance requirements of the account classification. Joint owners of accounts are not eligible to vote unless they qualify as a member and have account in their own right. Members are not eligible to vote until having attained eighteen (18) years of age.

Names of members placed in nomination will be posted Monday, February 1st, 2021.


Thank You for Nominating Austin Telco

Thank You

Austin Telco was voted 2019 Best Credit Union in Austin through the Austin American Statesman, Best of the Best awards. This year Austin Telco was nominated once again in the Credit Union category. Voting for the 2020 Best of the Best award was August 16th – August 30th. We would like to thank all of our members who voted for us during this process. The winners will be announced Thursday, October 29th at the Best of the Best award ceremony.


Online Banking Upgrade

A laptop,ipad, and smartphone on a table with coffee and plant. The three devices are all showing the new atfcu online banking site.

With the rollout of the Online Banking upgrade came several new and enhanced features to make your experience even better! These new features and enhancements include:

  • Enhanced look to the Statements & Documents page.
  • New icons for Menu Items.
  • Change Contact Information has been reformatted to one screen.
  • ADA Focus Color so it's easier to tell what field is being filled out.
  • Text Alerts: Online Banking Account Alerts now support Text Messages
  • New Alerts

    • ATM Withdrawal
    • Courtesy Pay
    • Hold
    • Loan Advance
    • Loan Payment Applied
    • Member to Member Transfer
    • Online Access Locked
    • Reg D Limit

Click here to see all the features of Online Banking.


Visa® Purchase Alerts

Visa Purchase Alerts

Visa® Purchase Alerts give you real time updates on your Austin Telco Visa debit and credit card activity to help reduce fraud and monitor your accounts, wherever you are. Select the delivery options that work for you - text messages, emails, or both for extra security and convenience. This unique service is available free for Austin Telco Visa cardholders.

The Visa Purchase Alerts service includes the following transaction alert types:

  • Threshold Alert
  • International Alert
  • Decline Alert
  • Credit Alert

Click Here to enroll and learn more about Visa Purchase Alerts.


Privacy Policy

At Austin Telco Federal Credit Union, we respect the privacy of our members. We recognize the importance of maintaining the confidentiality of your personal financial information. The privacy policy describes the practices followed by Austin Telco Federal Credit Union. The privacy policy explains what types of member information we collect and under what circumstances we may share it.

You can view our privacy policy online by clicking here.


Visa 2020 NFL Sweepstakes

NFL Sweepstakes

Pay with your Austin Telco Visa® card between 10/1/2020 - 11/30/2020 and you will be automatically entered for a chance to win $10,000 and The Ultimate NFL gift box which includes:

  • Microsoft Surface
  • Bose Noise Concelling Headphones
  • Madden NFL 21 & game console
  • $500 NFLShop.com coupon
  • and more

No purchase or obligation necessary to enter to win the Visa 2020 NFL Sweepstakes.

NO PURCHASE OR OBLIGATION NECESSARY TO ENTER OR WIN. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. No entrant has yet won. One (1) Grand Prize: $10,000 (awarded in the form of a check) and a Visa NFL Gift Box.  The Visa NFL Gift Box includes a Microsoft Surface, Bose Noise Cancelling Headphones, a Game Console, a Madden NFL 21 Game, a $500 Lowes gift card, a $500 NFLShop.com coupon code, a one (1) year subscription to NFL Game Pass valued at $100 (awarded electronically via a code) and a year’s worth of game days snacks valued at $650, awarded in the form of a $650 Visa Gift Card. Grand Prize will also include $5,800 cash (awarded in the form of a check) that can be used toward the payment of income taxes associated with the prize. Approximate Retail Value (“ARV”): $19,310. Automatic entries must be received by 11:59:59 PM PT 11/30/20 in order to be eligible. Mailed entries must be postmarked by 11/30/20 and received by 12/7/20. Estimated odds of winning are 1 in 11,344,720,444, however the actual odds of winning depend upon the total number of eligible entries received. Sweepstakes ends 11:59:59 PM PT 11/30/20. See Official Rules above for complete details, including prize restrictions. Sponsored solely by Visa U.S.A. Inc., P.O. Box 8999, San Francisco, CA 94128-8999.

 


Skip-A-Pay

Make Your Holiday a Little Brighter with Skip-A-Pay

We will not be accepting Skip-A-Pay coupons or online forms until Tuesday, October 13th.

Starting Tuesday, October 13th, Austin Telco’s Skip-A-Pay program can add some room to your holiday budget by allowing you to skip your loan payment(s) in the month of November or December.

There are several ways to set up Skip-A-Pay for your loan:

1. Online - go to www.atfcu.org/skip-a-pay.htm and fill out the form

2. Complete the Skip-A-Pay coupon and mail or fax it to:

Austin Telco Federal Credit Union
8929 Shoal Creek Blvd., Austin, TX 78757
Fax: 512.302.3333

3. Submit the coupon in person at any of our branch locations starting Tuesday, October 13th..

The Skip-A-Pay coupon must be received before your payment is due. The following loans are excluded from this offer: Real Estate, Home Improvement, Home Equity, Term Loans, and Business Loans. Visa Skip-A-Pay coupons are due by October 31, 2020 to skip November 25, 2020 or November 29, 2020 to skip December 25, 2020. Please note that interest is still accrued when payments are skipped and the term is extended. Normal qualifying is required. Skip-A-Payment is only available for current loans made before July 1, 2020, with no extensions or COVID relief skip-a-pays within the past 12 months. One payment that is due between November 15, 2020 and December 31, 2020 may be skipped. Maximum extension is 30 days.

 


5 Reasons to Consider Getting a Home Equity Loan

Home Equity

You’ve been building equity in your home for years – maybe even decades. Unfortunately, homes aren’t a liquid asset, and all that money you’ve put into mortgage payments won’t help you pay credit card debt, tuition, or invest in home improvements. Home equity loans give you a way to borrow against that equity.

Here are five reasons why home equity loans are a smart choice for a lot of households.

1.  Consolidate Debt

Families nationwide are struggling with debt right now. If you’re carrying balances on multiple credit cards or need to take some pressure off student loans, a home equity loan can be a great debt consolidation tool. Exchange your existing debts for one home equity loan with an interest rate that’s likely far lower than what your current credit cards carry.

2.  Incredibly Low Fixed Rates

Interest rates on home equity loans are simple, fixed, and can be as low as 2.60%1. or comparison, the average credit card rate can be anywhere from 14.5% to 18% – yours may even be higher.

Wiping out those rapidly growing debts with a low-rate home equity loan may simplify your finances and save you a lot of money in avoidable interest down the road.

Terms of up to 20 years are available and you’ll know upfront exactly what your monthly payments will be for the life of your loan. There are also no prepayment penalties or penalties for making additional principal payments.

3. Austin Telco Will Pay Your Closing Costs for Loans Below $150,0002

If you’re worried closing costs will cut four to five percent off your loan, fear not! Many homeowners borrowing a home equity loan from Austin Telco will pay no closing costs on their loan. Certain conditions may apply.

4. Amazing Flexibility

Borrowers can get up to 80% of the market value of their home (minus other mortgage balances) through a home equity loan. The money you pull out of your home can be used for whatever your family needs:

  • Pay utilities
  • Buy groceries
  • Get a new vehicle
  • Go on a vacation
  • Pay tuition or college expenses
  • Renovate your home
  • Invest in your business

How you spend the money is entirely up to you. This kind of flexibility is vital for families right now, and it’s a better, more sustainable option than high-interest personal loans or credit cards.

5. Tax-Deductible

Borrowers who use their home equity loan to improve their homes may be able to deduct their home equity loan interest payments from their taxes. In order to qualify your mortgage debt must be within specific government-mandated limits.3 If you itemize, home equity loan interest payments may be a valuable addition to your deductions at tax time. Make sure to speak with a tax professional to learn more.

Low-Interest Home Equity Loan With Generous Terms and No Strings Attached

Whether you need money for college, a kitchen remodel, want to consolidate credit card debt, or just buy your family some financial breathing room, a home equity loan may be one of the more appealing options. Interest rates are lower than personal loans, there aren’t restrictions on how you spend the money, and rates are fixed for the life of the loan, unlike a home equity line of credit.

Click here to apply.

1Annual Percentage Rate. All rates are expressed "as low as". The actual rate may vary depending on credit qualifications. Rates and terms are subject to change without notice.

2These costs include title search, flood determination, credit report, and county filing fees. If necessary, additional fees for member requested appraisal, survey, and title company closing costs will be the responsibility of the borrower. Estimated costs will be disclosed upon receipt of the application. Loans of $150,000 and above will require an appraisal, title policy, and title company closing costs at the member’s expense. Rates and terms on loans over $200,000 may vary.

3Consult with the IRS or a tax professional concerning tax-deductibility in your specific situation.


Austin Telco Retirement & Investment Services

How Much Money Will You Need for Retirement?

It depends on your goals, time horizon, and risk tolerance.

Provided by Austin Telco Retirement and Investment Services

"Will I outlive my retirement money?" That's one of the top fears for people who are starting to prepare for their retirement years.

So I have to chuckle a bit when I see headlines that say, "Here's how much money Americans think they need to retire comfortably."1

$1.9 million is the number, according to a nationwide survey of 1,000 employed 401(k) participants by a well-known financial services company. In 2019, the same survey reported the number was $1.7 million. But this year's pandemic increased the total by $200,000.2

Is $1.9 million a realistic figure for retirement? It's hard to say. The survey didn't ask participants how they arrived at that figure or what information they used to draw that conclusion.

Determining how much money you need in retirement is a process. It shouldn't be a number that you pull out of thin air.

The process should include looking at your current financial situation and developing an approach based on your goals, time horizon, and risk tolerance. The process should take into consideration all your potential sources of retirement income, and also may project what your income would look like each year in retirement.

A significant figure like $1.9 million does little good if you're uncertain what it means for your retirement years. We can help you develop a retirement strategy and show you investment ideas designed to help you pursue the retirement of your dreams.

Douglas Mitchell

Douglas Mitchell
Financial Advisor

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

Christopher Hager

Christopher Hager
Financial Advisor

512-407-3197

christopher.hager@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.

Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC , a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. 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.

Citations.

1. FoxBusiness.com, August 4, 2020

2. Pressroom.aboutshwab.com, August 4, 2020

FR-3243883.1-0920-1022


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