2023 Summer Possibilities

quick reads

holiday closings

All Ascend branches and corporate headquarters in Tullahoma will be closed Tuesday, July 4, in observance of Independence Day and Monday, September 4, in observance of Labor Day.

safe deposit renewals

Don’t forget, rental fees for all safe deposit boxes are due September 1. The fee will be transferred automatically from your specified checking or savings account. If you have questions regarding the fee, please give us a call before September 1 at 800-342-3086.

tax-free weekend

Tennessee tax-free weekend will be taking place Friday, July 28 – Sunday, July 30, 2023. During this annual tax holiday, clothing, school supplies and computers may be purchased tax-free. Certain restrictions apply. Visit tn.gov for more information.

work where you bank

Ascend has been rated one of the nation’s Best Credit Unions to work for by American Banker magazine for each of the last seven years — and we’re hiring. Learn more about Ascend and see a list of current openings at ascend.org/careers

greetings!

As the newly appointed President and CEO, I am thrilled to be writing my first letter to you. Since joining the Ascend team over 18 years ago, I have seen firsthand how our credit union has served our local communities and helped countless members learn to manage their finances effectively.

I am happy to share that Ascend had an outstanding first half of 2023. Our credit union reached a major milestone, hitting $4 billion in assets. We could not have achieved this without the trust and loyalty of our members. It was also announced that Ascend ranked 35th out of more than 4800 credit unions nationwide in Best Performing Credit Unions for 2022 by S&P Global Market Intelligence, which speaks to our financial soundness and stability in the industry.

We recently upgraded to a new card processor, and we are implementing features that offer enhanced security and additional fraud protections. Safeguarding your sensitive information is a top priority, and we take a proactive approach to maintain a secure and reliable service.

Furthermore, we have introduced improved card control features, which are now accessible through Ascend's digital banking platform. Our mobile app allows you to quickly disable or enable cards, receive transaction alerts, set travel notices, and more. We encourage you to take advantage of these enhanced features to make your banking experience even more seamless.

At Ascend, we're committed to delivering exceptional member experiences and we look forward to continuing to serve you.

Regards,

From the President & CEO, Matt Jernigan

Ascend Home Equity Lending

Your Key to Financial Flexibility

Did you know that you have the power to turn your home's equity into a financial tool to achieve your goals? Whether you're dreaming of a home renovation, need to consolidate debt, or want to cover unexpected expenses, Ascend's home equity products can help you access the cash you need, at competitive rates and with flexible terms.

So, what is home equity, and how can you tap into it? Home equity is the difference between your home's current market value and the amount you still owe on your mortgage. If you've been paying down your mortgage or if your home has increased in value, you may have built up a significant amount of equity that you can borrow against.

With Ascend's home equity loans and home equity lines of credit (HELOC), you can access up to 95% of your home's overall value, with no penalties for early repayment. Ascend offers fixed or variable interest rates, depending on your preferences and financial situation. A home equity loan provides a lump sum amount with a fixed interest rate and set monthly payments over a fixed term, while a HELOC provides a revolving line of credit, allowing you to borrow and repay multiple times during a draw period.

As an Ascend member, you also benefit from low closing costs, making it easy and affordable to get the cash you need. Plus, with Ascend, you'll have the peace of mind that comes with working with a trusted financial partner, focused on helping you achieve your goals and improve your financial well-being.

Ready to unlock the power of your home's equity? Visit ascend.org or call 800-342-3086 to schedule an appointment to meet with an Ascend loan specialist.

72nd Annual Meeting

March 18, 2023

Opening Remarks

Chairman Pat Eagan welcomed attendees to Ascend Federal Credit Union’s 72nd Annual Meeting. On behalf of Ascend’s Board of Directors and members, Chairman Eagan expressed his sincere appreciation to the membership for trusting Ascend to continually strive to enhance their experience and build their loyalty. Additionally, he expressed his gratitude to the more than six hundred employees who continue to put the members’ needs first, especially during this economically challenging year.

Ascend remains a financially stable organization operating in an industry that is essential to everyday life. Ascend’s dedication to the membership is evident through its outstanding performance in customer satisfaction as measured by the Net Promoter Score (NPS), a nationally recognized customer experience metric. In 2022, Ascend averaged a rating of 70, far above the industry average of mid-40s. In addition, Ascend’s assets increased by more than $135 million since last year, which is a testament to Ascend’s commitment to the membership's satisfaction and success.

Chairman Eagan discussed Ascend’s long history and recognized a member of the audience who has been a member of Ascend since 1954.

Prior to officially calling the meeting to order, Chairman Eagan reminded meeting attendees of the door prizes being presented following this meeting.

Call to Order

The annual meeting was called to order

by Chairman Eagan on March 18, 2023, at 1:09 p.m. in the Apollo conference room of Ascend in Tullahoma, Tennessee.

Introduction of Officials

Chairman Eagan began by introducing the officials in attendance as follows:

Board of Directors

Pat Eagan, Chairman

Lucy Matthews, Vice Chairman

Andy Flatt, Treasurer

Ray Guzman

Janet B. Marshall

Mark Rigney

Anthony Taylor

Supervisory Committee

Josh Johns, Chairman

Charlie Dillingham

Anthony Taylor

Chairman Eagan recognized Board

Members Ms. Valerie Molette, and Mr. David Elrod, Treasurer, who were unable to be in attendance. In addition, Chairman Eagan recognized Ascend’s President/CEO, Ms. Caren Gabriel.

Quorum

Mr. Josh Johns, Supervisory Committee Chairman, reported a quorum was present and in attendance for this meeting.

Approval of Minutes

Chairman Eagan announced the minutes of the Annual Meeting held on April 2, 2022, were distributed in the summer issue of Possibilities. The floor was opened for questions and/or comments. There being none, a motion was made by Mr. Taylor and seconded by Dr. Matthews to approve the minutes dated April 2, 2022, as written. The motion carried unanimously.

Reports of Chairman, Treasurer, and Supervisory Committee

Chairman Eagan directed meeting

attendees’ attention to the 2022 Annual Report where the officials' reports could be found, noting copies of the 2022 Annual Report are available online at ascend.org and at all Ascend financial centers.

Old Business

None.

New Business

Election Results – Chairman Eagan reported there were no qualifying petitions received this year; therefore, in accordance with the credit union's Bylaws, the nominees presented by the Nominating Committee were elected by acclamation. Officials elected for a threeyear term were Mr. Ray Guzman, Dr. David Elrod, and Mr. Anthony Taylor.

Adjournment

The floor was opened for questions and/or comments. There being no questions or further business, Chairman Eagan asked for a motion to adjourn the meeting at 1:14 p.m. A motion was made by Ms. Marshall and seconded by Mr. Taylor to adjourn the 72nd Annual Meeting of Ascend Federal Credit Union. The motion carried unanimously.

Door Prizes

Upon arrival at the meeting, members were given a numbered ticket qualifying them for door prizes. Following adjournment of the meeting, drawings were held to award four (4) prizes, including two (2) gift baskets and two (2) grand prizes totaling $100 each.

Closing Remarks

Chairman Eagan expressed his appreciation to Ascend’s staff and management for their dedication to ensuring Ascend can continue to serve

members safely and effectively. In addition, Chairman Eagan expressed his appreciation to Ascend’s Board of Directors. Last year, the Board voted to return $5 million to the memberowners. Over the past 18 years, Ascend’s volunteer, unpaid Board of Directors has voted to return over $100 million to credit union member-owners.

Chairman Eagan continued by recognizing Ascend’s President and CEO, Caren Gabriel, who has announced her retirement from Ascend after 38 years of dedicated service to the credit union. On behalf of the Board, employees, and membership, Chairman Eagan expressed his deep gratitude for everything Ms. Gabriel has accomplished during her tenure and wished her a very happy retirement. Chairman Eagan announced Mr. Matt Jernigan, Ascend’s current Executive Vice President, has been named as Ms. Gabriel’s successor. Mr. Jernigan has worked under Ms. Gabriel’s guidance for over 17 years and has proven himself to be an exceptional leader and invaluable team member. Ascend is excited to welcome Mr. Jernigan to the role and has every confidence that the credit union will continue to thrive under his leadership.

Ms. Gabriel expressed her appreciation for her time at Ascend and conveyed her support for Mr. Jernigan and Ascend going forward. Mr. Jernigan expressed his appreciation for the opportunity to lead Ascend into the future. On behalf of the volunteers and staff, Chairman Eagan thanked everyone for their attendance, support, and membership.

Members were excused from the meeting.

2024 Photo Calendar Contest Begins Soon!

Time to show us your best picture-taking skills.

It's that time of year again – we're on the lookout for the most stunning snapshots of the great Volunteer State for our annual photo calendar.

Think you've got what it takes to make the cut? Submit your best horizontal landscape photo of Tennessee and you could win the coveted cover spot! Plus, twelve additional winners will have their images featured in the calendar.

Before you start snapping away, here are some things to remember:

• Photos must be horizontal/landscape to be considered. No vertical/portrait photos will be accepted.

• Pictures must be of the state of Tennessee. We love seeing your beach photos and shots of the Grand Canyon, but we are only considering images of the great Volunteer State.

• No selfies. Leave people photos out. Unless someone is unrecognizable (such as a silhouette), photos that contain people will not be considered for inclusion in the calendar.

Need some help? Visit our blog for some of our favorite spots to capture beautiful Tennessee photos.

The 2024 calendar photo contest opens soon at ascend.org/photo-calendar-contest; watch our social pages for more information on how and when to enter!

Ten Ascend Scholarships Awarded for 2023

For over 20 years, Ascend has proudly provided scholarships to students attending accredited colleges, universities, technical and trade schools. In 2023, Ascend is providing 10 $2,500 scholarships.*

Winners of the 2023 Ascend Federal Credit Union Scholarship include the following:

Aeriana Anderson Manchester East Tennessee State University

Aaliyah Ehiemua Hendersonville Vanderbilt University

George Farag Antioch Middle Tennessee State University

Rachel Grijalva Shelbyville Lipscomb University

Esther Huai Nashville University of Pennsylvania

Akua Kuffour Murfreesboro South University – Savannah

Matthew Manning Murfreesboro Middle Tennessee State University

Ta’Licia Martin Murfreesboro Middle Tennessee State University

Elizabeth Mason Tullahoma Tennessee Technological University

Juliet Romines McKenzie University of Tennessee – Chattanooga

Details for Ascend’s 2024 scholarship will be posted at ascend.org/scholarships later this year. Scholarship winners may reapply for the next academic year if they still meet program requirements.

* Ascend employees, officials and any of their family members are excluded from eligibility

concert season is in full swing

All summer long, some of the biggest acts in the country are stopping in Nashville and playing at Ascend Amphitheater on the west bank of the Cumberland River in the heart of downtown.

Check our social pages each Tuesday for a #TicketTuesday giveaway and you

might find yourself headed to see acts from Foreigner to The National to Darius Rucker and many more, all thanks to Ascend.

Be sure we have your updated email address and be on the lookout for information. See you at the show!

Ascend in the Community

We’re Making an Impact in the Most Important Place We Can — Home

At Ascend, we promise to always be there for our members and our communities. This spring, we remained true to our commitment by supporting various causes and organizations in Middle Tennessee that we believe contribute to making the Volunteer State a better place.

Ascend is proud to support the American Red Cross by sponsoring the Heart of Tennessee Chapter’s Heroes Breakfast and the Nashville Area Chapter’s Lifesaver Luncheon. Both events celebrated and honored local leaders and volunteers for their acts of humanity, compassion, bravery and service to their communities. Funds raised from the events will help the American Red Cross deliver critical services to the communities being served by each chapter.

Ascend team and credit union members attend the Red Cross Heart of Tennessee Chapter’s Heroes Breakfast.

From left to right: Quentrece Smith, Senior AVP of Branch Delivery, pictured with MTSU Arts Scholarship recipients Lauren Thomas, Mikayla Hurst and Dean Leah Tolbert Lyons of the College of Liberal Arts.

On March 27, our Middle Tennessee community was rocked by the tragic and senseless shooting at the Covenant School in Nashville. Ascend stepped up to support those impacted by making a donation to From Within Counseling, a Nashville nonprofit organization that has partnered with the Covenant School to provide counseling for the children, adolescents and families affected by the tragedy. Additionally, during the month of April, Ascend employees conducted a fundraiser for The Community Foundation of Middle Tennessee’s Caring for Covenant Fund.

In line with our commitment to supporting diverse communities, Ascend recently awarded four scholarships to first-generation college students attending local Historically Black Colleges and UniversitiesTennessee State University and Fisk University. The scholarships, totaling $20,000, aim to create opportunities for higher education and employment.

Ascend continued its support of the Girl Scouts of Middle Tennessee, funding camp scholarships and Council Quests which include diversity, equity and inclusion and social, emotional and mental health programming and activities. Through Ascend's partnership with Banzai, we are providing Troop Leaders free access to interactive K-12 financial education coursesteaching skills like budgeting, saving, understanding debt, using the internet safely, and more. Printed workbooks complement each financial literacy course and challenge girls to use critical thinking, math and vocabulary to work through real-life scenarios.

In April, Ascend presented Financial Literacy Week with the Jones College of Business Department of Economics and Finance at Middle Tennessee State University (MTSU). The week included financial literacy seminars and on-campus events focused on financial wellbeing for all students. In addition, Ascend provided four scholarships to MTSU Arts students to support their education and foster artistic talent within the community.

Ascend scholarship recipient, Zion Mosby, pictured with Genevieve Waelchli (Green Hills Branch Manager) at Tennessee State University College of Business Honors and Awards Ceremony.

Ascend scholarship recipient, Amaya Howard, Junior at Fisk University.

Ascend Awards Spotlight

Ascend’s Training and Marketing Teams Nationally Recognized

Training Magazine Ranks Ascend #1 in Tennessee and #10 in U.S. Ascend has been named to Training Magazine’s APEX Awards ranking for the ninth consecutive year. The Training APEX Awards (formally the Top 100 list of ranked companies) celebrates companies that are making a difference in their employees’ lives through best-in-class training and development programs.

In addition to the ranking, Ascend also earned an Outstanding Training Initiative from the magazine’s editors for the credit union’s financial counseling program. This award was earned for the organization’s employee certificate training process, which was created with the intention of developing financial well-being among Ascend’s members.

For a complete list of APEX Awards winners, visit trainingmag.com.

Ascend Wins CUNA Diamond Award for “Someday” Campaign

The Credit Union National Association (CUNA) Marketing & Business Development Council recognized Ascend in the “Brand Awareness” category for its imaginative “Someday” campaign. The Diamond Awards highlight excellence in marketing and business development in the credit union industry. Ascend competed against the country’s largest credit unions (assets of more than $1 billion).

As part of the campaign, Ascend’s goal was to assist young, striving adults to achieve aspirational plans of financial freedom and to highlight the credit union’s resources to help them accomplish their objectives.

For a complete list of CUNA Diamond Award winners, visit cunacouncils.org.

Tips for Saving Big on Your Summer Vacation

The ocean is calling – and so is the open road. Your dream vacation awaits! But first, you need to work out the financial details. Let's face it, vacations can be expensive, but with some smart planning, you can avoid going into debt and enjoy your trip stress-free.

These vacation-saving tips will help you plan the perfect getaway while staying well within your budget.

1. Timing is everything

Be a savvy shopper. There is an ideal window for buying everything, and booking airline flights is no exception. Flight prices generally fluctuate until departure day, but experts say the sweet spot is 54 days (about 2 months) before your travel date.

2. Never pay full price

You can score a deluxe vacation without the deluxe price tag — all it takes is a little research. Check discount sites for amazing deals and coupons for local eateries and entertainment centers.

3. Freebie fun

Challenge yourself to enjoy one day of your vacation without spending any money at all. You might find a charming family farm, a gorgeous waterway, a fun splash pad for the kids or a scenic hiking trail.

4. Save on meal costs

Many hotels include a continental breakfast — take full advantage. For lunch, you can have a picnic with sandwiches. Dinner can be something effortless and delicious that you brought from home or pick up at a local supermarket.

With some effort and determination, you can have the summer vacation of your dreams without breaking the bank. Plus, by utilizing the Ascend mobile banking app, you can keep track of your spending, set travel notices and manage your finances on the go.

Reality Check on Your Retirement Savings

Whether you’re 23 or 35, it’s important to know whether you are saving enough for your retirement. There is no time like the present to ensure you are allocating enough funds to your retirement account.

With folks routinely living into their 80s and 90s, it’s more important than ever to ensure your money lasts your lifetime. Millennials have the advantage of time. You can benefit from compounding and the long-term trends that can make a real difference over the course of several decades.

A good savings target is 15% of your income. That’s a very general target, and in many cases, it’s too conservative. That can be a real challenge if you are also saving for a house and/or paying off student loans. The important point is to make a commitment to your retirement savings by contributing a consistent amount with each paycheck (or if you are self-employed, every invoice). The absolute percentage is secondary; more important is to set a goal and stick to it.

How will your lifestyle change? In retirement, you may no longer be drawing a salary, although many folks take up some form of self-employment that brings in an income. It’s up to you whether earnings will be part of your retirement plan. If not, your retirement savings should be robust enough to supplement your Social Security without sacrificing your lifestyle. You can check you projected Social Security payments on the Social Security Administration’s website.

Time may heal all wounds. Millennials may have unpleasant memories of the Great Recession and the family turmoil it could have caused. A conservative attitude toward risk isn’t surprising given those circumstances, but sticking to overly conservative investments has its own risks, such as not keeping up with inflation. You have time to recover from the inevitable ups and downs of the markets, which means you might want to consider adding some aggressive investments to your retirement account.

Figure out how long your savings will last. To get a reasonably accurate figure, you should derive your annual “burn rate.” That’s the amount of savings you’ll need to live on each year. You then see whether it will last for your estimated life expectancy, which you can check with any number of online calculators. If the answer is no, you’ll have to increase the amount you save now and/or cut back on your retirement plans.

Your retirement finances are not set in stone. You have options at any age. Call or email to review those and decide on the best course of action. Don’t put it off—the sooner you understand your financial alternatives, the sooner you can take positive action to protect your golden years.

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. This material was prepared by LPL Financial, LLC.

Checkups Are Good for Your Financial Health

Like annual physicals, a yearly checkup can help uncover hidden problems, inspire you to set new goals, provide information you need to improve your health, and help make sure you're on track for well-being. We specialize in thoughtful and personalized investment guidance aimed at keeping your finances and goals in shape.

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. Securities and insurance offered through LPL or its affiliates are:

2023 Labor Day Giveaway

Enter for your chance to win a Blackstone grill with accessories

With September 4 just around the corner, long-time members of Ascend may be aware of what's in store. Get ready, as we plan to make your final cookouts of 2023 bigger and better than ever before! This year, we are excited to announce our Labor Day Giveaway, which includes a Blackstone grill and assorted accessories.

Entering couldn’t be easier – just visit our Facebook page and comment on the giveaway post that will be shared on August 18 and you could be cooking like a pro on Labor Day.

How to Keep Your Phone Safe from Fraud

Smartphones are an essential part of our daily lives, allowing us to shop, bank, and stay connected on the go. However, as our reliance on these devices grows, so does the risk of exposing our personal information to fraud and security breaches. Here are five tips to help keep your phone and information safe:

1. Adjust lock settings

Take advantage of fingerprint or face recognition features and consider installing a tracking app to locate or erase your data if it gets lost. Set your phone's lock settings to automatically lock after a short period of time.

2. Choose strong passwords

Use strong, unique passwords across all your devices and apps, changing them every six months. Do not

store passwords in one location on your phone or allow your device to remember them.

3. Browse safely Follow safe online browsing rules, such as checking for the padlock icon and "https" in the URL and not sharing personal information with unknown contacts. Keep security settings up to date and avoid clicking on pop-up ads or links from unverified senders.

4. Use secure Wi-Fi

Avoid using public Wi-Fi and instead, connect to a VPN to protect your device and sensitive information. Keep your Wi-Fi network locked to prevent strangers from accessing it.

5. Encrypt your data

Encrypt sensitive data on your phone to protect against identity theft. Most phones have encryption settings that are easy to enable.

In this age of increasing technology dependence, it's more important than ever to ensure that our smartphones are safe and secure.

If you believe you have fallen victim to a scam or suspect that fraud has affected your Ascend account, contact us immediately at 800-342-3086. Your security is our top priority.