FoxFacts Newsletter January 2022 We all have 85 years worth of celebrating to do We want to sincerely thank everyone who helped make us the terrific organization that we have become — our members, team members, Board, and communities. This year, marks 85 wonderful years of helping each other and the surrounding communities to achieve financial goals and dreams. We’re so proud of our growth and, more importantly, of the things we’ve helped others achieve. From car loans and mortgages, to our thousands of volunteer hours through the years, we cherish all of the special stories behind all of those seemingly simple transactions. Those stories and the people who are part of them are what make Fox so special.
Limited time offer on credit card cash advances through February 2.99% Promo APR for 12 months* 9.90%-17.90% APR thereafter* We are helping make your financial holiday resolutions happen with a low-interest cash advance on your Fox credit card.
Thank you for sharing your lives with us, and for all that you do and have done to allow us to help each other make life happen.
• Consolidate or transfer higher interest rate non-Fox balances or accounts on or to your Fox Credit Card.
As we ride into the future, we reflect on our history.
• Pay off your holiday charges.
• On October 15, 1937, we were established as Combined Locks Credit Union, located inside the Combined Locks Mill. The business and purpose of our credit union was to raise money to be loaned among its members. The first loan was given to a fellow mill worker so he could buy Christmas presents for his family. • On October 3, 1979, we broke ground for our new office building on the Combined Locks Mill property, where the Mill leased the land for $1 per year. • The first stand-alone location opened in 1980 on the Combined locks Mill property, and came at a cost of $110,000. We invite you to discover more of our history at foxcu.org/history. It’s pretty neat that we were able to capture so much of where we came from to where we are today!
Prepare for the unexpected with our home equity line of credit Whether you’re looking to consolidate your high interest debt, pay for education expenses, book a family trip, or just to be prepared for the unexpected, a home equity line of credit may be the answer. Home equity lines of credit (HELOCs) are much like credit cards. You can borrow money up to a certain credit limit and then pay back the borrowed funds along with interest. Use what you need, and once funds are paid back, money is available for you to use again. You are essentially borrowing against your home’s equity and using the home itself as collateral. Take advantage of your home’s equity to: • Establish a credit line up to 90% of your home’s equity. • Use what you need, and once funds are paid back, money is available for you to use again. • Take advantage of a loan that may be tax deductible. With the help of our Digital Banking, it’s easy to access your HELOC funds. Simply transfer money from your HELOC to your checking account. Apply at foxcu.org or call 920-993-9000 today to put your home’s equity to work for you. Variable Annual Percentage Rate (APR) changes based on the Wall Street Journal Prime Rate plus a margin stated in your original home equity line terms agreement. Maximum APR is 18.00%. Maximum loan to value up to 90%. Available draw period for advances during first 15 years. Rates, terms, and conditions are subject to change and may vary based on credit worthiness, qualifications, and collateral requirements. Loans are subject to final credit approval. Consult a tax adivsor regarding deductibility of interest and fees. Membership eligibility required. Equal housing Opportunity Lender. Carrier fees for data usage may apply when using our Digital Banking. Federally Insured by NCUA.
• Get those automotive tune-ups you’ve been tuning out. • Tap into your card for some emergency cash. Perform a credit card cash advance by calling us at 920-993-9000, stopping at any one of our convenient locations, using an ATM (must use credit card PIN), or... 1. Log into Digital Banking. (Need access? Select Enroll on bottom-right) 2. Tap Menu > Transactions > Funds Transfer. 3. Choose Credit Card as From Account and complete remaining prompts on screen. APR=Annual Percentage Rate. Balance transfers and cash advances made 1/1/22 to 2/28/22 will remain at 2.99% Promo APR until 2/28/23. On 3/1/23 the rate will return to 9.90% - 17.90% APR disclosed at account opening. Interest begins accruing as of the transfer/advance date and is calculated using the average daily balance. Offer subject to change without notice. Rewards program does not apply to Cash Advances or Balance Transfers. Loan subject to credit approval. Membership eligibility required. Federally Insured by NCUA.
When will 2021 IRS Form information be available? 2021 IRS Tax Forms 1099 and IRS Tax Form 1098 (Mortgage Loan Interest) will be mailed by 1/31/2022. You will only receive a 1099-INT if total interest earned on your deposit accounts exceeded $10 in 2021. Please remember: If you choose to have your tax refund electronically deposited, you must use the full 12-digit account number along with our routing number, 275977256. For this reason, we did print your full 12-digit account number(s) on your December statements.
Money Market motivation What if you earned more money based on how much you saved? Save more, earn more. That doesn’t sound half bad. That’s exactly what a Money Market can do for you. If you’d like to earn more than you would with a regular savings account, but you’d like more flexibility than you’d get with a certificate of deposit, this is the account for you. Here at Fox, there is no minimum balance (but the higher your balance, the higher your dividend rate), no monthly fee, and you’ll start earning dividends at $100. Contact us — We’d be happy to help you. No minimum balance or monthly fee. Dividends earned on balances of $100 or more. Interest on aacount is accrued daily.Federally Insured by NCUA.
Seeking Board of Directors candidates Applicants must be Fox members (primary account holder, the first name listed on the account) for at least one year by our Annual Meeting date, May 2, 2022, be in good standing, and be 18 years of age or older. Applications will be accepted beginning in early January. For more information visit foxcu.org/board-of-directors.
Fake calls from Apple and Amazon support If you get an unexpected call or message about a problem with any of your accounts, hang up! • Do not press ‘1’ to speak with customer support. • Do not call a phone number they give you. • If you think there may actually be a problem with one of your accounts, contact the company, using a phone number or website you know is real. Apple is a trademark of Apple Inc., registered in the U.S. & other countries. Amazon is a trademark of Amazon in the U.S. & other countries.
Find Us: foxcu.org/locations
Learn about making over your credit card, getting out of debt, and avoiding fraud
First of eight cooperative principles: Voluntary and open enrollment
We’ll discuss credit card usage, warning signs of credit issues, options for debt management, and reconstructing existing credit.
This year, we would like to introduce (or perhaps reintroduce) you to the Eight Cooperative Principles. These are the guiding principles that the credit union movement uses as a guiding force. For many years, there were seven of these principles, but in 2018, the Credit Union National Association and the National Credit Union Foundation added an eighth to address diversity, equity, and inclusion. These principles are one of the major things that make credit unions unique. They are our heartsong. That warm and fuzzy feeling you get when you come to the credit union? That’s because you’re among people who, even if they don’t know these principles verbatim, feel them at their core. Each month we will introduce one of the eight principles and talk about what it means to credit unions and, ultimately, to Fox.
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Tune into 1150AM, 103.5FM, 106.3FM or the WHBY app Monday, January 10 from 11:00am-Noon Presented by Rick Dennis, Consumer Lending Opertations Manager & Heidi Kiecker, Fraud
LUNCH MONEY
DELIVERING FREE FINANCIAL WEBINARS TO YOU
Join our Lunch Money webinar by registering at foxcu.org/calendar Wednesday, January 19 from 11:30am-12:30pm Presented by BALANCE experts Presentation is brought to you by Fox Communities Credit Union and is intended for educational purposes only and does not replace independent professional advice. Statements and opinions are those of the presenter individually. Fox Communities Credit Union deposit products are Federally Insured by NCUA. Equal Housing Lender.
Free BALANCE webinar: Are you financially healthy? In this workshop, you will understand what it means to be financially healthy, which is so much more than the one score everyone asks you about today — your credit score. True financial health is based on four key components: spend, save, borrow, and plan. You’ll also get a chance to confidentially determine your own financial health score and the steps you can take to improve that score. . Tuesday, January 11 from 12:30-1:30pm Thursday, January 20 from 7:30-8:30pm Register at foxcu.org/balance-financial-fitnessprogram/. Click ‘Visit Balance Webinar,’ then ‘Free Webinar’. Presentations are intended for educational purposes only and do not replace independent professional advice. Statements and opinions are of the presenter individually and not necessarily the opinion or position of Fox. Fox is not an affiliate of BALANCE Financial Fitness. Third-party site isn’t operated or under the control of Fox. Fox isn’t responsible for the content and doesn’t represent those who enter into a transaction. Fox deposit products are federally insured by NCUA.
Watch Us: vimeo.com/foxcu
Call Us: 920-993-9000
The first principle is voluntary and open membership. Credit unions are voluntary, not-for-profit financial cooperatives offering services to people willing to accept the responsibilities and benefits of membership, without gender, social, racial, political, or religious discrimination. You’ll notice it says that we are not-for-profit, which means that any profit we do make will go back into the cooperative to improve things for us all. That may be in the form of lower loan rates, better technology, or more services. This means that if you want to be a part of this organization (and you live in our service area), you are welcome. We want you to feel that Fox is as much yours as it is ours — because it is! Federally Insured by NCUA.