2024 Winter Possibilities by Ascend Federal Credit Union

Winter 2024

Phishing Scams

73rd Annual Meeting

Ascend in the Community

New Checking Accounts

Retirement Dreams

ascend.org

greetings As we begin a new year, one of the most important resolutions you can set for yourself and your family is the foundation for your financial well-being.

From the

President & CEO, Matt Jernigan

quick reads holiday closings All Ascend branches and offices will be closed on Monday, Jan. 1 for New Year’s Day and Monday, Jan. 15 for Martin Luther King Jr. Day.

annual meeting & election Ascend’s 73rd Annual Meeting and Board Election is scheduled for 1 p.m. Saturday, April 6, 2024, and will be held in the Apollo Conference Room at Ascend’s Corporate Headquarters in Tullahoma.

annual report A downloadable copy of the 2023 Annual Report will be available at ascend.org in mid-March. Copies of the report will also be available at all Ascend branch locations.

irs reporting requirements Ascend will be sending tax documentation to members in early 2024 as required by the Internal Revenue Service (IRS) for tax year 2023. Please check the forms you receive carefully and notify the credit union if you have any questions.

update your information Be sure to have your contact information up to date for us to reach you regarding updates for promotions, services and general communications, including future issues of Possibilities. Please also ensure your beneficiary information is current.

Ascend offers many tools and resources to help you as you progress along your journey toward financial stability and independence, including our convenient digital banking platform, free personal finance worksheets, and online educational courses. By learning how to be a good steward of your money and maximize your savings, you are taking the necessary steps to secure your financial future and ensure peace of mind when unexpected expenses inevitably arise.   To further support your financial goals, I am happy to announce the launch of our new checking products. These products not only aim to put more money back into your pocket but also offer benefits tailored to your specific needs. Whether you are looking to receive cash back on purchases, earn higher interest dividends, or enjoy lower fees, we have an account for every stage of life. At Ascend, we are committed to helping our members achieve financial success, and these new checking products are just another way we can assist you in your journey. Starting the new year on the right foot is a choice, and we are here to provide you with the tools and support to make that choice easier for you.   Thank you for being a valued Ascend member, and I wish you a prosperous and financially secure 2024. Regards, Matt Jernigan President & CEO

Protect Yourself from Phishing Scams In today’s digital world, phishing scams are more prevalent than ever. No matter if it’s through text, email, or phone, the goal of the scammer is always the same; pose as a legitimate business to manipulate the victim into giving out sensitive information such as passwords, credit card numbers, and more.

please keep in mind that ascend representatives will never: • Ask a member for their account number via email or text message

yourself from a phishing scam.

• Ask a member to share their user ID or digital banking password

Don’t Trust Caller ID

• Ask a member for a one-time passcode

Here are a few tips on how to spot and protect

Through a tactic known as spoofing, scammers can make themselves appear as anything they want to on your Caller ID. Be wary about giving any personal information on the phone until you can verify the legitimacy of whoever is calling, even if the Caller ID is from a local number or a trusted business.   Ignore Suspicious Emails and Texts If you receive an email or text message from an unidentifiable source, delete it and do not click any links. If the suspicious message appears to be from Ascend and you are unsure if it’s legitimate, call 800-342-3086 or visit us in branch to confirm the validity of the message. Do not call the phone number listed in the suspicious message.   Check Website Security A secure website’s URL should begin with “https” rather than “http”. The “s” at the end of “http” stands for secure and is using an SSL (Secure Sockets Layer) connection. Also, be sure to check the lock icon in your browser bar. When clicked this provides detailed information on the security of a website.

• Ask a member to send money via Zelle® to make their account “current” or “in good standing” • Call a member to verify Zelle® transaction If you think fraud has affected your Ascend account, please contact us immediately at 800-342-3086.

Ascend Schedules 73rd Annual Meeting & Board of Directors Election The Nominating Committee for Ascend’s Board of Directors has submitted nominations for four Board seats to be filled in 2024. Biographical data on nominees Pat Eagan, Andy Flatt, Janet Marshall, and Tonya Quarles 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 26 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. The results of the 2024 Annual Election will be announced at the 73rd Annual Meeting, scheduled for 1 p.m. Saturday, April 6, and will be held in the Apollo Conference Room at Ascend Headquarters in Tullahoma.

EMPLOYMENT • VP/Gulf Coast Valley Central Sales, Dell Inc., 2001 – present EDUCATION • MBA, Management, University of Phoenix, 2006 • BA, Marketing, Middle Tennessee State University, 2001 EXPERIENCE • Member Ascend FCU, 2022 – present • Board of Directors, 2023 - present • Associate Board Member, 2022 – 2023

TONYA QUARLES Brentwood, TN 1 Year Term

PAT EAGAN Tullahoma, TN 3 Year Term

EMPLOYMENT • United States Air Force (Ret) – 30 years in combat support and base support activities; squadron commander and group commander assignments; and major command and Pentagon staff and leadership assignments • Director of Mission Support (Ret), Aerospace Testing Alliance, Arnold AFB, Tennessee EDUCATION • Murfreesboro Central High School (1968) - Academic Achievement Diploma • University of the South (1972) - Bachelor of Arts Degree in Economics – Algernon Sydney Sullivan Award • Texas Christian University (1977) - Master of Public Administration Degree – Pi Alpha Alpha Honor Society EXPERIENCE • Member Ascend FCU, 2000 – Present • Board of Directors, 2013 – Present Chairman, 2020 – 2023 Vice Chairman, 2019 – 2020 • Supervisory Committee, 2008 – 2014 Chairman, 2010 – 2014

EMPLOYMENT • SVP/Chief Information Officer, National HealthCare Corp, 2017 – present • SVP/Chief Information Officer, Corizon Health, 2014 – 2017 • Overall, 36 years of experience with healthcare companies in the public and private sector EDUCATION • BS, Computer Science, Lipscomb University, 1984 EXPERIENCE • Member Ascend FCU, 1981 – present • Board of Directors, 2016 – present Vice Chairman, 2017 – 2019 Treasurer, 2022 – present

ANDY FLATT Nashville, TN 3 Year Term

JANET MARSHALL Crossville, TN 3 Year Term

EMPLOYMENT • Retired, Senior Sales Market Manager, CUNA Mutual Group, 2001 – 2019 • SVP/Chief Administration Officer, Purdue Employees FCU, 1990 – 2001 • Executive Vice President, Houston Police FCU, 1986 – 1990 EDUCATION • BS, Marketing Management, Western Governors University, 2014 • Certified Credit Union Development Educator (CUDE), 2012 • Certified Credit Union Executive, 2005 – 2007 • National Credit Union Institute EXPERIENCE • Member Ascend FCU, 2014 – present • Board of Directors, 2021 – present Vice Chairman, 2023 – present • Supervisory Committee Member, 2020 – 2021

You Asked, We Listened — Ascend is Growing! Ascend’s newest branch in Murfreesboro is coming soon.

The branch will be located in the Savannah Ridge development at 3403 South Church Street and become Ascend’s fifth branch in Murfreesboro. 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, this branch’s amenities include: • Two interactive teller machines (ITM) accessible during lobby hours •T wo 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 You can expect this location to open in early 2024. Follow us on social media for full opening details.

Rendering of new Murfreesboro branch.

Ascend Recognized by American Banker

Ascend once again named one of the nation’s best credit unions to work for. For the eighth consecutive year, we are proud to be recognized by American Banker magazine as one of the top 70 best credit unions to work for in the United States. Ascend is the only Tennessee credit union listed eight times since the program’s inception in 2014, and one of only two Tennessee credit unions that made the list of organizations honored this year. In recognizing Ascend for its exceptional workplace, judges praised a new staff feedback initiative that helped enhance our training and professional development programs, which has resulted in a 46% internal promotion rate. Judges also cited Ascend’s partnership with Middle Tennessee State University which provides employees with an 18% tuition discount to maximize cost savings for furthering their education. Ascend’s benefits include tuition assistance, opportunities to support

local fundraising efforts, and 10 paid holidays. Additionally, Ascend pays for 100% of health coverage for employees, and 90% of employees are currently enrolled in the plan. The organization also offers 401(k) contributions that match 100% of an employee's contribution by the fifth year of participation, up to 10% of the employee’s annual salary. 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. For more information on how to join our award-winning team, visit ascend.org/careers.

Ascend in the Community Second Harvest Mobile Pantry On September 23, Ascend volunteers participated in a mobile food pantry at Immanuel Baptist Church in Lebanon. The food distribution was made possible in part by Ascend’s $60,000 donation to Second Harvest Food Bank of Middle Tennessee to purchase a 53-foot refrigerated trailer. The effort delivered 22,000 pounds of food to 145 families in the area.

Breast Cancer Awareness Month – Susan G. Komen Foundation During the month of October, Ascend employees contributed to a fundraising campaign for the Tennessee Chapter of the Susan G. Komen Breast Cancer Foundation. This year, employees raised $3,230. Including this year’s donation, Ascend employees have raised $19,159 for Susan G. Komen since 2019. The money will help fund local breast cancer detection and support projects for those with critical needs, with the goal of eliminating barriers to lifesaving services. Ascend was also a sponsor of the Nashville More than Pink Walk, which was held on October 7.

Costumed for a Cure – Leukemia & Lymphoma Society (LLS) This Halloween employees at Ascend locations throughout Middle Tennessee participated in the annual “Costumed for a Cure” fundraiser benefiting the Leukemia & Lymphoma Society (LLS). Employees dressed up in their most creative costumes and decorated pumpkins, and anyone who visited an Ascend branch could vote for their favorite costume or pumpkin with a contribution to LLS. Donations also were accepted through a custom fundraising website. The event raised $3,720 from employee and member donations, bringing the 17year fundraising total to $48,879. All funds will go toward supporting blood cancer research, as well as improving the quality of life for patients and their families. In addition to the fundraiser, Ascend contributed $10,000 toward LLS’ Dare to Dream Project, which is transforming treatment and care for kids with blood cancer.

Kickstart the New Year with Smart Budgeting Tips As we welcome the promising possibilities of a new year, it’s the perfect time to reevaluate your financial goals and make a plan to achieve them. Here are some essential budgeting and savings tips to help you make the most of 2024. Track Your Spending and Income It’s important to keep a record of every dollar you spend and how much money you have coming in. If your expenses exceed your income, or the numbers are too close for comfort, you’ll need to trim some discretionary expenses to avoid falling into debt when an unforeseen expense occurs. To get started, visit ascend.org/worksheets and download our free budgeting worksheet. Cut Unnecessary Expenses Review your expenses and identify areas where you can cut back. Small changes, like reducing dining out or canceling unused subscriptions, can add up to significant savings. Reduce Debt Focus on paying down high-interest

debts. The quicker you reduce your debt, the more money you can divert towards savings and investments. Automate Your Savings Set up automatic transfers to your savings account. This approach ensures that you are consistently putting money aside, even before you have a chance to spend it. Build Your Emergency Fund Having at least three to six months’ worth of living expenses in savings can provide peace of mind during unexpected financial challenges. Review and Tweak Your budget isn’t set in stone. You will need to regularly adjust the amounts in each expense category to keep your budget relevant.

As you embark on your financial journey, remember that budgeting is a powerful tool that can lead to financial freedom and security. Visit Ascend’s free online financial education center at ascend.org/financial-education for additional resources or make an appointment to meet with one of our Financial Service Officers.

Introducing Ascend’s New Checking Accounts We are proud to offer a full range of products and services to help you manage your money and achieve your financial goals. Our new checking accounts and benefits are tailored to suit your needs at any stage of life, ensuring a seamless banking experience.

Interest Earning

Rewards

Free

Effortlessly earn 3.56% APY1 on balances up to $15,000 without sacrificing accessibility.

Earn 10¢ with every qualifying2 purchase and put money back into your pocket.

Simplify your banking experience with no monthly service fee.

Included with all Ascend checking accounts: Access 55,000 fee-free Allpoint ATMs nationwide U se Ascend's mobile app to conveniently deposit checks, pay bills, transfer funds, and more Free credit score monitoring and analysis Overdraft protection available when using a line of credit, savings account, money market, or HELOC Suite of free online educational videos, interactive lessons, and calculators E ligible to enter our scholarship program where we’ve awarded more than $200,000 to members E arly access presale codes for tickets to select events at Ascend Amphitheater

In addition to all the convenient banking features you’ve come to expect from Ascend, members with Interest Earning and Rewards Checking accounts get access to exclusive benefits including Telehealth Services, Mobile Phone Protection, Fuel Savings, and more!3

telehealth services

mobile phone protection

fuel savings

travel & leisure discounts

Getting started is easy — visit any of our 27 Middle Tennessee locations, apply online at ascend.org/checking, or give us a call at 800-342-3086. ¹ Annual Percentage Yield (APY) is accurate as of December 29, 2023. The APY is subject to change at any time and without notice. ² Payment transactions, money transfers to non-financial institutions (such as person-to-person), tax payments, and fraudulent purchase transactions are excluded. ³ Registration required. Go to ascend.eclubonline.net or download the eClub mobile app. Additional terms and conditions may apply.

Eight Mistakes That Can Upend Your Retirement

Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight for you to steer clear of:

1. No Strategy Yes, the biggest mistake is having no strategy at all. Without a strategy, you may have no goals, leaving you no way of knowing how you’ll get there — and if you’ve even arrived. Creating a strategy may increase your potential for success, both before and after retirement.

2. Frequent Trading Chasing “hot” investments often leads to despair. Create an asset allocation strategy that is properly diversified to reflect your objectives, risk tolerance, and time horizon; then make adjustments based on changes in your personal situation, not due to market ups and downs.1 3. Not Maximizing Tax-Deferred Savings Workers have tax-advantaged ways to save for retirement. Not participating in your employer’s 401(k) may be a mistake, especially when you’re passing up free money in the form of employer-matching contributions.2

4. Prioritizing College Funding Over Retirement Your kids’ college education is important, but you may not want to sacrifice your retirement

for it. Remember, you can get loans and grants for college, but you can’t for your retirement.

5. Overlooking Healthcare Costs Extended care may be an expense that can undermine your financial strategy for retirement if you don’t prepare for it.

6. Not Adjusting Your Investment Approach Well Before Retirement The last thing your retirement portfolio can afford is a sharp fall in stock prices and a sustained bear market at the moment you’re ready to stop working. Consider adjusting your asset allocation in advance of tapping your savings so you’re not selling stocks when prices are depressed.3

7. Retiring With Too Much Debt If too much debt is bad when you’re making money, it can be deadly when you’re living in retirement. Consider managing or reducing your debt level before you retire.

8. It’s Not Only About Money Above all, a rewarding retirement requires good health, so maintain a healthy diet, exercise regularly, stay socially involved, and remain intellectually active.

1 The return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost. Asset allocation and diversification are approaches to help manage investment risk. Asset allocation and diversification do not guarantee against investment loss. Past performance does not guarantee future results. 2 Under the SECURE Act, in most circumstances, you must begin taking required minimum distributions from your 401(k) or other defined contribution plan in the year you turn 73. Withdrawals from your 401(k) or other defined contribution plans are taxed as ordinary income, and if taken before age 59½, may be subject to a 10% federal income tax penalty. 3 The return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost. Asset allocation is an approach to help manage investment risk. Asset allocation does not guarantee against investment loss. Past performance does not guarantee future results.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named brokerdealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Helping You Pursue Financial Independence At Ascend Retirement and Investment Services*, we focus on the financial cirumstances and goals that are unique to you and your family. With that information, we help you create a personalized financial strategy based on your short-term and long-term objectives, then monitor it to help you stay on track. Call an advisor to learn more or to schedule a consultation.

Randall W. Harris, ChFC® CFP®

VP, Wealth Management

931-454-1307

Dan Sheible, LUTCF® CRPC®

Financial Advisor

931-454-1355

Josh Wells, CRPC®

Associate Financial Advisor

931-461-8779

Kristy Harris, CRPC®

Associate Financial Advisor

931-461-8749

Lee Baker

Associate Financial Advisor

931-454-2925

*Securities and advisory services are offered through LPL Financial (LPL), 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:

Not Insured by NCUA or Any Other Government Agency

Not Credit Union Guaranteed

Not Credit Union Deposits or Obligations

May Lose Value

Ascend Federal Credit Union ("Financial Institution") provides referrals to financial professionals of LPL Financial LLC ("LPL") pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for advisory services. Please visit www.lpl.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.

Apply for an Ascend Scholarship The 2024-2025 scholarship application is now open! Over the past 21 years, Ascend has awarded $256,000 in scholarships to our members. Ascend’s 2024 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 20242025 academic year. Scholarships are non-recurring, but previous winners may re-apply if they meet program requirements. The deadline to apply is March 1, 2024. Visit ascend.org/scholarships for eligibility requirements and to apply.

Welcome New Select Employee Groups First Presbyterian Church Spring Hill – Spring Hill Friends of MACC – Nashville Glorious Grains Baking Co. Great Harvest Bread – Nashville Precision Engineering – Morrison Summitville Vol. Fire Dept. – Manchester Precision Mechanical & Controls – La Vergne Email bizdev@ascend.org to learn how employees and members of your organization can partner with Ascend Federal Credit Union.

Notice of Expulsion Policy Ascend is introducing a new policy to safeguard our valued members and employees. While our goal is never member expulsion, this policy has been implemented as a measure of last resort for severe cases, such as abusive or dangerous behavior toward employees or members and fraud. We maintain a commitment to fairness and due process, as ensuring the trust and safety of our members and employees remains our top priority. We may terminate your membership with Ascend Federal Credit Union in one of three ways. The first way is through a special meeting. Under this option, we may call a special meeting of the members, provide you an opportunity to be heard, and obtain a two-thirds vote of the members present at the special meeting in favor of your expulsion. The second way to terminate your membership is under a nonparticipation policy given to each member that follows certain requirements. The third way to terminate your membership is by a two-thirds vote of the quorum of the directors of the credit union for cause. Cause is defined as (A) a substantial or repeated violation of the Membership Agreement with Ascend; (B) a substantial or repeated disruption, including dangerous or abusive behavior, to the credit union’s operations; or (C) fraud, attempted fraud, or a conviction of other illegal conduct that a member has been convicted of in relation to Ascend, including in connection with our employees conducting business on our behalf. Before the board votes on an expulsion, we must provide written notice to your mail address (or email, if applicable) on record or personally provide the written notice. We must provide the specific reasons for the expulsion and allow you an opportunity to rebut those reasons through a hearing if you choose. It is your responsibility to keep your contact information with us up-to-date, and to open and read notices from Ascend. Unless we determine to allow otherwise, there is no right to an in-person hearing with the board. If you fail to request a hearing within sixty (60) calendar days of receipt of the notice, you will be expelled. You may submit any complaints about your pending expulsion or expulsion to NCUA’s Consumer Assistance Center if the complaint cannot be resolved with the credit union. We will confirm any expulsion with a letter with information on the effect of the expulsion and how you can request reinstatement. Expulsion or withdrawal from membership does not relieve a member of liability to the credit union, and we may demand immediate repayment of money you owe to us after expulsion, subject to any applicable contract terms and conditions.

We do business in accordance with the Federal Fair Housing Laws and the Equal Credit Opportunity Act. All loans subject to credit approval.

@ascendfcu

For more information about all of our locations, visit ascend.org/locations.

STAR: 800-342-8663

800-342-3086

memberservice@ascend.org

ascend.org

The best place to bank isn’t a bank. P.O. Box 1210 Tullahoma, TN 37388