2023 Winter Possibilities

quick reads

annual meeting & election

Ascend’s 72nd Annual Meeting is scheduled for 1 p.m. Saturday, March 18 and will be held in the Apollo Conference Room at Ascend Headquarters in Tullahoma. Should the need for a virtual meeting arise, information will be communicated to the membership via ascend.org and Ascend’s social media pages as the date approaches.

annual report

A downloadable copy of the 2022 Annual Report will be available at ascend.org in mid-March. Copies of the report will also be available at all Ascend financial centers.

holiday closures

All credit union offices will be closed on Monday, January 2 for New Year’s Day and on Monday, January 16 for Martin Luther King Jr. Day.

harland clarke price increase

Beginning January 22, 2023, members who order from our check vendor, Harland Clarke, will see price increases on personal check products and shipping costs. Additionally, the commercial deposit ticket package quantity will decrease from 200 to 150.

greetings

The past year brought one of the biggest changes in the history of Ascend with the upgrade of our digital banking platform.

This tool makes it easier than ever for you to manage your funds and monitor your overall financial health. Ascend continues to invest in technology that ensures you have access to safe, secure and reliable banking services.

Now that we have the upgrade behind us, it’s time to draw your attention to some of the premium features included with the platform:

Credit Score Report & Monitoring: Free, anytime access to your latest credit score, plus monitoring services from SavvyMoney that help you master your credit standing.

Spending Analysis: A feature that automatically tracks how you spend — making it easy to identify areas for improvement.

Send Money To Anyone: Zelle® is an innovative tool that allows you to electronically send and receive funds from anyone with a bank account, including those who don’t have an account with Ascend.

Stop Payments On The Go: Quickly place a stop payment on a check or ACH right from your phone or laptop.

I’ve only skimmed the surface of what Ascend’s digital banking platform can do, from either your computer or smartphone. I encourage you to explore the many tools it has to offer to make your financial life more successful.

Regards,

From the President & CEO, Caren C. Gabriel

Tips for Avoiding Fraud in a Digital World

Protect Yourself from Scammers

Online fraud can be particularly hard to detect as scammers are constantly changing their tactics and techniques. Here are some simple steps you can take to prevent yourself from becoming a victim of fraud:

Use a safe payment app and verify the user. Make sure the recipient you are sending a payment or wire transfer to is someone you trust or who you can verify is a legitimate business. Zelle® is a fast, safe and easy way to send money directly between bank accounts in the U.S., typically within minutes — and all within Ascend’s digital banking platform.

Stay away from businesses that only accept P2P. P2P user agreements typically have a “no commercial use” clause. That means if you use the service to purchase goods, you will not be refunded if the transaction turns out to be fraudulent.

Never share personal information on social media. Sharing information about yourself on social media is very dangerous. This includes sharing your address, phone number and location — as well as answers to security-related questions. It’s also recommended to check your settings and activate two-step authentication to log in to your accounts.

Be alert for phishing calls, texts and emails. There are many different scams out there, but they all have one thing in common — they try to get access to your account using a variety of sophisticated email and phone techniques. To avoid falling victim, don’t click links in suspicious emails or text messages, and don’t provide account information over the phone.

Note that scammers may “spoof” an Ascend phone number to appear as if they are calling from Ascend, but they are not. If you believe this type of scam is happening, hang up immediately and dial an Ascend representative at 800-342-3086.

Please keep in mind that Ascend representatives will NEVER:

• Ask a member for account number, user ID or digital banking password

• Ask a member for a one-time passcode

• Ask a member to send money via Zelle® to make their account “current” or “in good standing”

• Call a member to verify Zelle® transactions

If you think fraud has affected your Ascend account, please contact us immediately at 800-342-3086

Ascend Schedules 72nd Annual Meeting & Board of Directors Election

The Nominating Committee for Ascend’s Board of Directors has submitted nominations for three Board seats to be filled in 2023. Biographical data on nominees Ray Guzman, David Elrod and Anthony Taylor are included.

Nominations by petition must be submitted to the secretary of the Board of Directors no later than 5 p.m. on Monday, February 6 to qualify. Nominations by petition must be signed by one percent of the membership (minimum of 20 and maximum of 500 signatures). Biographical data and a signed “Notice of Willingness to Serve” must accompany petitions.

Blank petitions and “Notice of Willingness to Serve” forms may be obtained by contacting Ascend’s marketing team at mktg@ascend.org. In the event no nominating petitions

are filed by the general membership, nominees submitted by the Nominating Committee will be elected by acclamation. In this case, according to the by-laws, a mail ballot is not required.

Nominations will not be accepted from the floor at the Annual Meeting if there is at least one nominee for each position to be filled.

The results of the 2023 Annual Election will be announced at the 72nd Annual Meeting, scheduled for 1 p.m. Saturday, March 18, and will be held in the Apollo Conference Room at Ascend Headquarters in Tullahoma. Should the need for a virtual aspect arise, that information will be communicated to the membership via ascend.org and Ascend’s social media pages as the meeting date approaches.

EMPLOYMENT

• CEO, SwitchPoint Ventures, 2019 – present

• SVP/Analytics, Intermedix/R1, 2017 – 2018

• Chairman/CEO, WPC Healthcare, 2012 – 2017

EDUCATION

• AS, Kaplan University, 2003

• US Army, 1998

EXPERIENCE

• Member Ascend FCU, 2020 – present

• Board Member, 2020 – present

• Associate Board Member, 2020

RAMON “RAY” J. GUZMAN Franklin, Tennessee

EMPLOYMENT

• Dean, Raymond B. Jones College of Engineering, Lipscomb University, 2018 – present

• Jacobs Technology, 1995 – 2018

• Vice President, Business Development/ Technical Fellow, 2016 – 2018

• Regional Vice President, Business Development, 2000 – 2016

• Vice President (Jacobs) and General Manager, Aerospace Testing Alliance, 2000 – 2011

EDUCATION

• PhD, Industrial and Systems Engineering and Engineering Management, 1999, University of Alabama, Huntsville

• MS, Engineering Management, 1988, University of Tennessee Space Institute

• BS, Physics, 1977, David Lipscomb College

EXPERIENCE

• Member Ascend FCU, 1979 – present

• Board Member, 2020 – present

• Board Secretary, 2021 – present

• Associate Board Member, 2019 – 2020

EMPLOYMENT

• Retired Manager, Human Resources, National Aerospace Solutions

EDUCATION

• AS, College Parallel, 1972, Motlow State Community College

• BS, Political Science, 1974, Middle Tennessee State University

• JD, 1979, Nashville School of Law

EXPERIENCE

• Member Ascend FCU, 1972 – present

• Board of Directors, 2012 – present

• Treasurer, 2013 – 2014

• Vice Chairman, 2014 – 2017

• Chairman, 2017 – 2020

• Supervisory Committee, 2004 – 2012; 2020 – present

• Chairman, 2006 – 2009, and 2012

• Board Development Committee, 2003 – 2004

• NAFCU Certified Volunteer Expert (NCVE)

DR. P. DAVID ELROD, II Manchester, Tennessee

ANTHONY J. TAYLOR

Fayetteville, Tennessee

Ascend is Growing!

Coming soon is Ascend’s newest branch in Lebanon.

The branch will be located at 1719 West Main Street in Lebanon, Tennessee.

Branch operating hours:

• Monday – Friday 9 a.m. to 5 p.m.

• Saturday – 9 a.m. to 1 p.m.

In addition to our standard branch services, Lebanon’s amenities include:

• Two interactive teller machines (ITM) accessible during lobby hours

• Two drive-up ITMs available 7 a.m.–7 p.m. Monday through Saturday; these ITMs also act as ATMs with 24/7 drive-up access to make withdrawals, deposits, and balance inquiries

• Coinstar machine

You can expect this location to open late 2022/early 2023. Follow us on social media for full opening details.

Photos are renderings of the future Lebanon branch.

Ascend Recognized by American Banker

Ascend once again named one of the nation’s best credit unions to work for.

For the seventh consecutive year, we are proud to be recognized by American Banker magazine as one of the top 50 best credit unions to work for in the United States. Ascend is the only Tennessee credit union listed seven times since the program’s inception in 2014, and one of only two Tennessee credit unions that made the list in 2022.

This year, Ascend was specifically recognized for its support of a strong company culture and competitive benefits, including the credit union’s contribution of $1,000 for individual coverage and $2,000 for family coverage toward a health savings account for employees participating in highdeductible employee insurance plans. Judges also mentioned a fun work environment, such as staff celebrating National Ice Cream Day with an ice cream truck at corporate headquarters.

Being named to this prestigious list of credit unions requires positive feedback from employees on the award program’s survey. We’re delighted that our colleagues believe Ascend is a great place to work. We will continue our efforts to be the most loved financial

institution in our market, both by our employees and the Middle Tennessee communities we serve.

Ascend’s employee benefits include tuition assistance, opportunities to support local fundraising efforts and 10 paid holidays. Ascend pays 100% of employees’ health coverage premiums, and 91% of employees are enrolled in the plan. The organization also pays 401(k) contributions that match 100% of an employee’s contribution by the fifth year of participation, and up to 10% of the employee’s annual salary with longer tenure.

Ascend is a collaborative, productive environment with ample opportunity to advance. We support employee development with competitive benefits, management training, education reimbursement and more. Our employees are our greatest asset. We are honored to work with them and thank them for their vote of confidence once again.

For more information on how to join our award-winning team, visit ascend.org/careers

Receive up to 3.82% APY on our 24-month certificate.

With rising interest rates and soaring inflation, certificate accounts are a great way to earn money while saving for your short-term and long-term financial goals.

At Ascend, we offer a range of account and term options that will earn you more money than most savings accounts and diversify your financial portfolio. Since certificate rates are locked in and are not affected by the stock market, they are a safe way to invest your hard-earned money.

Wide Variety of Opening Balances

Whether you’re looking to invest $500 or much more, we have certificate accounts to fit your goals.

Wide Variety of Terms

Terms for our certificates range from 6 to 60 months, so you can choose the accounts that best suit your plans.

Higher Rates Based on Balance

If you have $100,000 or more to invest, even better rates may be available.

Member’s Advantage

Ascend’s 15 and 54-month Member’s Advantage certificate accounts are unlike other certificates. During the term, members can make one additional deposit of at least $1,000. Additionally, if dividend rates increase during the term, the member can choose a one-time rate increase.

Visit ascend.org/certificates and save on your terms!

Money Market Accounts

The more you save, the more you could earn with Ascend.

Whether you are saving for a future purchase or looking for a place to park your emergency fund, a money market account is the perfect way to give your short-term savings their best chance to grow — without the risk.

With a money market account from Ascend, you’ll see an attractive rate on your return to help your money grow more.

Money market funds are easily accessible, with many of the same benefits as a checking or savings account, and member deposits are insured up to $250,000. An Ascend money market account offers a great opportunity to start saving with confidence!

Minimum Balance Requirement

Open a money market account with as little as $2,500. Ascend doesn’t charge a maintenance fee, and members can make up to 6 withdrawals per month for no additional charge.

Popular Uses for Money Market Accounts

• Annual vacation

• Emergency repairs

• Purchasing a new car

• Quarterly tax payments

• Tuition payments

• Unexpected medical fees

Introducing SavvyMoney

Free credit score analysis, reporting, monitoring, and more.

We are happy to introduce SavvyMoney to our digital banking platform for members. SavvyMoney provides you with comprehensive credit score analysis, full credit reports, credit monitoring and helpful resources all at no cost to you. No need to worry about negatively impacting your credit score by using SavvyMoney’s tools, as it utilizes soft pulls that won’t impact your credit score.

Score Analysis

SavvyMoney’s score analysis tool helps you understand your score, the factors that impact it and what you can do to strengthen it. It breaks down the six key components that make up your credit score and pulls in your data to break down how you are performing in each area.

The key components that make up the Score Analysis are your score rating, payment history, credit usage, account mix, credit age, and number of recent inquiries.

Credit Report

Get a complete breakdown of your overall credit report. See a quick

glimpse of your credit summary or look under the hood and see each item that is on your credit report. If you see any errors on your credit report, you can easily start a dispute directly with TransUnion.

Score Simulator

With SavvyMoney’s score simulator, you can see what happens to your credit score based on certain actions, such as opening a new loan or credit card, paying down/off balances, missing a monthly payment, or making consecutive on-time payments. This is a great tool to plan out your future financial actions and build or maintain a healthy credit score.

Ascend Partners with Paychex for Business Banking Members

Offering an all-encompassing payroll solution that’s reliable, simple, and efficient.

Ascend has partnered with Paychex to offer services that help the administrative side of your business run smoothly, from HR administration to payroll. If these tasks keep you from focusing on growing your business, Paychex can help.

Paychex Flex®, an all-in-one HR solution, simplifies the payroll process and helps you manage workers across the entire employee life cycle.

Payroll

Paychex helps payroll run smoothly every pay period, whether on your own or with 24/7 support from a dedicated and highly trained payroll specialist.

Compliance

Over 200 dedicated professionals monitor employment and tax regulatory developments to keep clients current with ever-changing laws and regulations.

Attracting and Retaining Top Talent

Paychex helps standardize and streamline the recruiting and hiring

processes, allowing them to offer competitive benefits.

HR Tasks

Take advantage of Paychex’s paperless onboarding, new-hire reporting, and online time and attendance system. Employees simply log on to view their paycheck stubs and W-2s.

Access to Data

Clients can access Paychex Flex® via phone, laptop, or desktop — and gain the flexibility to manage their business while on the go. It’s easy, secure, and free.

Integrations

Paychex Integrations connect the Paychex Flex® platform with other systems to help businesses run efficiently by sharing data without manual intervention.

For more information, please visit ascend.org/business-services, call 855-204-2085, or visit any of our 27 Middle Tennessee branches.

The Elusive Buy & Sell Strategy of Perfect Timing

Buying low or selling high is a prudent strategy for most investors, an effort to maximize returns. But buying lowest or selling highest is an elusive strategy, one that is difficult to execute and that may lead to lower returns and missed opportunities.

Predicting a market high or low is achieved only through hindsight. Therefore, if you transfer money out of stocks when the market is low, you may not get back in time when prices begin to increase.

Rather than trying to find the “perfect” time to invest, adopt a balanced investment strategy that aligns with your personal risk tolerance and time frame. Of course, past performance does not guarantee future returns, but the stock market has always rebounded from downturns. And these rebounds can come about quickly.

About Rebounds

Without any clear indication of when markets will rebound, investors may miss rebound opportunities when they fail to invest. Below are more examples of downturns and subsequent rebounds:

Trying to buy or sell assets based on absolute market highs or lows may produce lower returns. S&P 500 Total Returns by Year

26.5%

Source: slickcharts.com/sp500/returns

Dislaimer. Total returns include two components: the return generated by dividends and the return generated by price changes in the index. The S&P 500 is an unmanaged index which cannot be invested into directly. Unmanaged index returns do not reflect fees, expenses or sales charges. Index performance is not indicative of the performance of any investment. Past performance is no guarantee of future results. The Standard and Poor’s 500 Index is a capitalization weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.

This material was prepared by LPL Financial, LLC. This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal.

Does Your Retirement Math Add Up?

The financial professionals at Ascend Retirement and Investment Services are financial advisors with, and securities and advisory services are offered through, LPL Financial, a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ascend Federal Credit Union and Ascend Retirement and Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Ascend Retirement and Investment Services, and may also be employees of Ascend Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Ascend Federal Credit Union or Ascend Retirement and Investment Services.

Ascend Amphitheater

Love concerts? Ascend members get special perks at Ascend Amphitheater, which includes access to concert tickets before they go on sale to the public.

Ticket dates and featured artists can be found at ascend.org/amphitheater.

Apply Today for an Ascend Scholarship

The Ascend Scholarship application is now open! Ascend will award 10 scholarships at $2,500 each to students who are Ascend members. Scholarships will be awarded to five traditional and five non-traditional students for the 2023-2024 academic year. Scholarships are non-recurring, but previous winners may re-apply if they meet program requirements.

The deadline to apply is March 1, 2023.

For eligibility requirements and to apply, visit ascend.org/scholarships.

Distribution Changes Coming to Possibilities

A new year kicks off a new way that members will receive Possibilities.

This year, members enrolled to receive free Online Statements will now receive their spring and fall issue of Possibilities digitally, straight to their inbox, rather than as a printed copy in the mail. Members who pay the $1 fee to receive paper statements will continue to receive printed copies of Possibilities. Per NCUA regulations, all Ascend members will receive a printed copy of our winter and summer issues. Printed copies of Possibilities will continue to be available at all branches, while supplies last.

To change how you receive your statements, please visit the digital banking menu on your desktop or mobile app. Select “Documents & Statements”, then change the toggle for “Receive Online Statements only” to your selected preference. A $1 fee applies for each paper statement, but this fee is waived for members 65 years of age and older and 18 years of age and younger. For feedback or assistance, please call 800-342-3086.