Hanscom FCU MoneyWisdom Fall 2019

MoneyWisdom TIPS, NEWS, AND HAPPENINGS FROM HANSCOM FCU | FALL 2019

THE BEST Credit Union in America! page 2

Exciting New Mobile/Online

UPGRADES page 4

PROTECT YOURSELF and Your Family from Scams page 3

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Fall 2019

Proud to Lead a Winning Team

Best Credit Union in America Hanscom Federal Credit Union has been named, for the second year in a row, the “Best Credit

I

t’s truly

accounts with strong rewards that are

an honor

available to anyone in the U.S. We strive to

to have

provide financial products, services, and

been chosen

education that deliver the best value for our

this May

members because when our members are

to serve as

doing well, our credit union is doing well.

your credit union’s chairman. These first

The accolade we received from Kiplinger’s

few months in my new role have been

gives our whole team – volunteers and

exciting ones, and I, along with our Board

employees alike – a renewed sense of

of Directors and our incredibly dedicated

purpose, a drive to continue delivering

team of employees, am committed to

the best products and services to our ever-

continue leading Hanscom Federal Credit

growing membership numbers.

Union toward a bright future. Although my role is a volunteer one, I want you

Speaking of which, you’ll note below that

know that I am working hard every day to

we now have over 90,000 members. Wow!

ensure your continued trust in our financial

If we all held tickets to see the Patriots play

institution. We have exciting plans in store,

at Gillette Stadium this fall, there wouldn’t

and I know they’re going to put our credit

be enough seats for us! Soon we’ll have

union in the best position to help you

over 100,000 members, but rest assured …

achieve your financial goals.

even though we’re growing by leaps and bounds, our commitment to each and

One of the most exciting moments during

every one of you remains solid and steady:

my first few months as chairman was

To be the trusted advisor that people turn

when I learned that Kiplinger’s Personal

to for unbiased financial guidance.

Finance magazine chose Hanscom FCU as its “Best Credit Union” for 2019. We are

I wish you the best that autumn brings.

so incredibly pleased to receive this kind

Union in the U.S.” by Kiplinger’s Personal Finance magazine. The August 2019 issue identified its top picks among national, regional, and internet banks, along with credit unions that offer the best combinations of high rates on deposits, low fees, and a customer-friendly focus.

Hanscom FCU was praised for its array of free or low-cost accounts that offer strong rewards and exceptional interest rates. They focused specifically on the credit union’s Free Kasasa Checking and innovative CU Thrive automated savings program.

“This national recognition is a testament to the quality work that our employees perform each day,” said David Sprague, Hanscom FCU’s president and CEO. “Kiplinger’s was diligent in asking questions and investigating our products and services. The commitment we have to our members and the thoughtful decisions behind making ours a healthy and successful credit union are deserving of this recognition.”

Read why Kiplinger’s chose Hanscom FCU as its Best Credit Union in the U.S. at

of national media attention, especially

Ray Phillips

because we won for the second year in a

Chairman of the Board

row based on the array of free and low-cost

Hanscom Federal Credit Union

www.kiplinger.com/ links/banks2019.

Statistics

Our Mission

Board of Directors

To be the trusted advisor that

Ray T. Phillips, Chairman

Raymond A. Kahre

Members . ............................................... 91,131

people turn to for unbiased

John A. Delcore, Vice Chairman

Hugh W. McNeil

Assets........................................ $1,423,000,000

financial guidance.

Mark D. Walsh, Treasurer

David M. Pronchick

Deposits....................................$1,248,800,000

Teresa S. Conrad, Secretary

Lawrence S. Rzepecki

Loans......................................... $1,193,600,000

Paul J. Marotta, Chairman Emeritus 2

Fall 2019

Reserves.......................................$146,800,000 June 30, 2019

BePROACTIVE

Scam Prevention Tips from Hanscom FCU’s Senior Safeguard Event

H

anscom FCU recently sponsored a CU Senior Safeguard “Lunch and Learn” event in Braintree, MA, along with

Be Vigilant Remember your neighbors and friends who

Scams can be scary and you need to stay

may not listen to the news or get out much.

the Cooperative Credit Union Association and

informed. Here’s a list of reputable organizations

Be their eyes and ears and keep them informed

Disabled American Veterans. Scams are a

and sites reporting on current scams:

of new scams.

$40 billion industry. As thieves conjure up new schemes and technology grows at light-speed,

If you’re being targeted by a scammer, contact

scams are likely to increase exponentially.

your local police department. Law enforcement takes fraud, especially elder fraud, seriously.

Everyone is vulnerable to financial scams.

Lastly, keep an eye on your credit reports

In fact, consumers in their 20s (today’s

for fraudulent activity. Remember: Here at

millennials) are defrauded more often than

Hanscom FCU we offer free credit report and

consumers in their 70s according to a report by

score reviews. Stop by a branch or call us at

the Federal Trade Commission. Unfortunately,

800-656-4328 to learn more.

older Americans have a higher median loss than younger age groups. Here, some tips to avoid

Protect Your Assets

being scammed.

Unfortunately, strangers aren’t the only ones

Listen To Your Gut

scamming and defrauding older adults. “We see a lot of caregiver and family member financial

• IRS Tax Scams/Consumer Alerts www.irs.gov/newsroom/ tax-scams-consumer-alerts • Federal Trade Commission Scam Alerts www.consumer.ftc.gov/features/ scam-alerts • AARP Fraud Watch Network www.aarp.org/money/scams-fraud/ • Better Business Bureau Scam TrackerSM www.bbb.org/scamtracker/us/ • KrebsOnSecurity https://krebsonsecurity.com • Hanscom FCU MoneyWisdom blog https://go.hfcu.org/blog

The email says you’ve won the lottery, but

abuse on the front lines of the financial services

you need to provide your bank details for

industry,” said David Sprague, Hanscom FCU’s

your millions. Sound too good to be true? It

president and CEO. “It’s a challenge because

Learn how to handle the financial

is, according to experts. If something doesn’t

often the caregiver or family member has done

issues affecting you and your

seem right, trust your instincts.

a good job gaining the trust and friendship of

family at one of our free Lunch and

Another popular scam involves a fraudster claiming to have the target’s grandchild in jail.

The caller will tell a victim their grandchild can be released only when bail is paid with iTunes gift cards. There's no police department anywhere that accepts bail money in the form of gift cards, so hang up.

Forget Your Manners Scammers gain trust because victims tend to be polite and respectful. If you have to be rude

their victim, so sometimes we can’t convince

Learn events. Visit www.hfcu.org/events

our member they’re being scammed, which

to sign up.

is frustrating.” Sprague pointed out that every Hanscom FCU employee, whether back office or on the front lines, has been certified through CU

and some extra insurance that one’s personal

Senior Safeguard to identify and prevent elder

details are not being exploited.

financial abuse.

If you have been scammed, tell someone: Share information with other members of the

call your police department, talk to a family

family as a check on your main caregiver. This

member, contact your credit union. There’s

puts a second (or third) pair of eyes on finances

no need to be ashamed.

to stop someone, be rude. Don’t listen to their offers or ask questions. Just hang up.

If you can’t bring yourself to be rude, tell the caller that you need to think about the offer first, then hang up. Your goal is to get off the phone quickly. The longer you stay on the phone with a scammer, the more likely your number will reach the dark web and make you more susceptible to victimization.

Speakers at the CU Senior Safeguard “Lunch and Learn” in Braintree, MA.

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Bringing You the Best With Online/Mobile Access Upgrades

O

ur goal is to make banking easier for our members, and with that in mind, our digital strategy team has been hard at work this year making improvements to our online and mobile

access tools. “We’ve been listening to members,” said Jason Traugut, Hanscom FCU’s senior digital strategy analyst, “and working hard to bring them the tools with improvements they’re looking for. The credit union benefits because we have products that are more nimble, as well as secure.” Here are some of the online and mobile activities you can now do with much more ease:

 Deposit your paper checks remotely. If you have an Online Access account, you’re automatically eligible to deposit checks via the Hanscom FCU app.

You’ll no longer need to use a helper app and no credit check is required to enroll in the service. One thing you’ll notice: when you log in for the first time following the upgrade, you’ll be asked to accept a new disclosure agreement. After that, deposit away!

 Be CONNECTED

Add your Hanscom FCU cards to your phone’s Mobile Wallet.

Learn more at www.hfcu.org/ mobile-pay.

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Fall 2019

 Use your Apple Watch to handle your banking needs. You can now find the Hanscom FCU icon on your Apple Watch. Just a tap of the wrist and you’ll be able to transact through Hanscom FCU.

I Kasasa!

BeSAVVY

 Edit recurring transfers with ease. In the past, if you wanted to edit a recurring transfer, you had to delete it and start over. Now if you need to make an adjustment – say a dollar amount has changed – you can do so by clicking Transaction>Activity Center>Recurring and selecting the transfer you wish to edit.

When Hanscom FCU introduced its Kasasa Cash1 and Kasasa Cash Back2 checking accounts last year, Bill Burpeau, a relationship manager in Hanscom FCU’s partner relations department, didn’t need much convincing to sign up. “I thought, ‘OK, so I’ll get a little money back.’

That sounded good to me.”

What he didn’t expect? The excitement he feels when his Monthly Qualification email pops up in his inbox. “I read that email and it makes my day,” he said. “I’m doing nothing differently than I did before: I’m getting my statements online, direct depositing my payroll checks, and

 Rest assured with a more secure password function. We’ve increased the minimum password length to 10 characters (maximum 50) for Online Access and require at least one uppercase letter and at least one digit. You can also choose to use a special character, except for < or >, although that’s not required. You may think this isn’t an improvement, but Scott Heinz, Hanscom FCU’s assistant vice president of digital strategy, said, “This requirement makes it even more difficult for fraudsters. We want to stay a couple steps ahead of these crooks to protect our members.” That’s good news for you!

We’re always upgrading our online and mobile features, so if you want to stay on top of these developments, be sure to subscribe to our MoneyWisdom blog (https://go.hfcu.org/blog) where you can learn about them as soon as they’re available.

using my debit card throughout the month. That email congratulating me and letting me know I’m getting some money deposited into my account makes me feel great. That’s a real reward I can use.”

Bill deposits the $7 into his Kasasa Savings account with a 1.50% APY3, which he uses as his emergency savings. “That’s an extra $84 a year for doing what I’d do anyway,” he added. “You could also funnel that money into a CU Thrive account, which pays an even higher amount of interest.”

Want to learn more about Kasasa checking and how you, like Bill, can make your checking account pay? Visit https://www.hfcu.org/kasasa.

Kasasa Cash: Earn 2.50% APY on balances up to $15,000.00 in each Monthly Qualification Cycle that your account qualifies. The portion of your balance above that cap will earn an interest rate of 0.40% resulting in a range from 0.40% to 2.50% APY, depending on the account’s balance, each cycle that your account qualifies. Earn 0.01% APY in cycles that your account does not qualify. “Monthly Qualification Cycle” means a period beginning one (1) day prior to the first day of the current statement cycle through one (1) day prior to the close of the current statement cycle. “Statement Cycle” means the period of time for which Hanscom FCU provides a summary of the financial activities and transactions that post and settle to the accountholder’s account.

2 Kasasa Cash Back: Qualifying accounts earn 2.00% cash back on all debit card purchases that post and settle during each Monthly Qualification Cycle that your account qualifies, up to a total of $7.00 cash back per Monthly Qualification Cycle. Rewards are subject to change and may change after account is opened. Please refer to our Fee Schedule at https://www.hfcu.org/content/docs/fee_schedule.pdf for current fees and charges.

3 APY = Annual Percentage Yield.

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BeGUIDED

Ray Phillips Elected Hanscom FCU’s Chairman of the Board Learn more

E

about Hanscom arlier this year, the Board of Directors of

Hanscom AFB, but continued

Federal Credit Union

Hanscom Federal Credit Union elected

to conduct cost/price analysis

and its employment

longtime board member Ray T. Phillips

of contractor proposals on a

opportunities at

as the credit union’s chairman. The position

contract basis for the Air Force

www.hfcu.org/

was previously held by Paul J. Marotta since

through 2015. He has also held

careers.

1992, who stepped down to focus his attention

a senior accounting position with

on mentoring future board leadership and on

the U.S. Army Corps of Engineers in

charitable programs and projects on behalf of

Waltham, MA, and was a savings and loan

Hanscom FCU as its chairman emeritus.

examiner for the Federal Home Loan Bank Board in Boston.

Phillips brings a wealth of experience to his new role on the Board. He was elected

Phillips holds a bachelor’s degree with high

to the credit union’s Board of Directors in

honors in business administration from Lowell

1994 and has been the Board’s treasurer

Technological Institute in Lowell, MA, and

since 2018. Prior to election to the Board,

obtained an MBA with honors from Babson

Phillips served on its Supervisory Committee,

College in Wellesley, MA. He also served in the

which is responsible for engaging certified

U.S. Navy for four years.

Phillips and his wife Susan live in Acton, MA, with their two dogs, Buddy, a beagle mix, and Ginger, a terrier mix. He’s a familiar face at the credit union’s main branch, but in his free time he trains for marathons, including the Boston Marathon, which he has run 20 times since 2000 to raise money for Boston Children’s

public accountants, performing audits, and ensuring effective internal controls and risk

“Knowing that the leadership of Hanscom

management practices are adhered to at the

Federal Credit Union is passing into Ray’s

credit union.

capable hands is reassuring,” said Marotta.

Hospital as a member of #TeamHanscomFCU.



“Ray’s career was built on providing financial Phillips officially retired in 2004 as a senior

oversight on major government acquisitions,

cost/price analyst for the U.S. Air Force on

making him the perfect candidate for the job.”

Be REWARDED

The holidays are coming! Earn 1% cash

Announcing Two New Mastercard Benefits

back with your CASH + REWARDS World

Now there are more reasons to carry Hanscom FCU ATM & Check,

Certified identity theft

Platinum, and CASH + REWARDS World Mastercards in your wallet

resolution specialists and

or purse:

in-house medical staff are available

Mastercard on every gift purchase with no limit to how much you can earn.

Apply at https://hfcu.org/ world today.

24/7 to restore your identity.

First, our cards come with Mastercard® ID Theft Protection™ benefits at no additional charge. You can easily monitor your identity

Next, the loss of a cellphone can be devastating, but with the

risk level and respond to suspicious activity alerts from an easy-to-use

new Cellular Telephone Protection Benefit available

online dashboard. Mastercard ID Theft Protection also includes:

through Mastercard, you will be reimbursed for damage or theft of your cellphone as long as your monthly cellular bill is paid with

•2 4/7 identity theft resolution service •O nline monitoring •C redit monitoring, report, and score 6

Fall 2019

•S uspicious activity alerts • L ost wallet assistance •M edical identity theft insurance

your CASH + REWARDS World Mastercard.

Learn more about these Hanscom FCU Mastercard benefits and opt-in at www.hfcu.org/credit-cards.

BeCHARITABLE

Hanscom FCU in the News 1

Hanscom FCU Celebrates a Return to Base During the annual Heroes Homecoming Parade in July, Hanscom

FCU employees and volunteers offered a rousing welcome home to

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military personnel returning to Hanscom AFB after deployment abroad.

Events that day included a recognition ceremony and picnic to honor the service members and their families. Photo: Hanscom FCU President & CEO David Sprague, Board Secretary Teresa Conrad, Chairman Ray T. Phillips, and Chairman Emeritus Paul Marotta.

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Backpacks for Schoolchildren This fall, second-graders at two Dorchester, MA, elementary

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schools received backpacks fully stocked with school supplies, compliments of Hanscom FCU and one of its chief vendors, Union Office of Wilmington, MA. Credit union employees filled 90 backpacks with the donated items during its annual employee meeting in the spring. Photo: Hanscom FCU employees delivering backpacks to Russell Elementary School in Dorchester.

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Beating Cancer with Relay for Life #TeamHanscomFCU raised a record-breaking $15,983 in

support of cancer care and research at this yearâ&#x20AC;&#x2122;s Relay for Life event in

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Burlington, MA. The team hosted fundraisers throughout the year and collected pledges from friends, families, and co-workers to reach their goals. Photo: #TeamHanscomFCU poses at the 2019 Relay for Life event in Burlington, MA.

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Hanscom FCU Wins Prestigious Marketing Awards

Hanscom FCU won two silver awards and one bronze from the Marketing

4

Association of Credit Unions (MAC) for its work promoting credit union products and programs. This newsletter and a Select Employer Group brochure won the silver awards, and the bronze was for its new CASH + REWARDS World Mastercard design. Photo: A trio of awards won by Hanscom FCU from the Marketing Association of Credit Unions.

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Honoring Veterans as Heroes Among Us Three retired service members were honored by the credit

union as its 2019 Heroes Among Us recipients. The annual Heroes

For the latest news happening at Hanscom FCU, visit www.hfcu.org/ media.

program takes place at Lowell Spinners baseball games every summer.

The honorees participate in batting practice, throw the first pitch of the game, and enjoy a ceremony that honors their service to our country.

Photo: Navy veteran Will Hatley, left, with radio broadcaster and retired

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Boston Celtics basketball player Cedric Maxwell.

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Contact Us Headquarters: 1610 Eglin Street | Hanscom AFB, MA 01731 800-656-4328

1610 Eglin Street

www.hfcu.org

Hanscom AFB, MA 01731

Download our free app for iPhone®, AndroidTM, and Kindle Fire.

Go green. Log in to Online Access HD to sign up for online statements. Learn more at www.hfcu.org/statements.

Routing Number (for direct deposits and withdrawals): 2113-8048-3 NMLS# 410771 To report a lost or stolen ATM & Check Card or Credit Card call: 800-656-4328 Overseas (24 hr): 412-552-2698 (call collect) 800-264-5578 (after hours) 24-hr. Fraud Line: 866-842-5208 This publication does not constitute legal, accounting or other professional advice. Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material.

Websites not belonging to Hanscom FCU are provided for information only.

No endorsement is implied. Images may be from one or more of these sources: ©iStock, ©Fotolia, ©Canva. ©2019 Hanscom Federal Credit Union.

Federally insured

by NCUA.

Member Spotlight: Dawn From left, Sumita Basu, Collin Victorine, Dawn, and Alix Belandria at Hanscom FCU’s Natick Branch.

Like many Americans, Dawn, a federal officer who works out of the U.S. Army Natick Soldier Systems Center, went through some tough times when the global financial crisis was brewing in 2007. When her son was 18 months old, he was diagnosed with a rare condition called neurofibromatosis. Dawn and her husband went into debt for his medical care, eventually losing their home.

They worked hard to get back on their feet financially, and by 2014 were ready to move out of their small rental and buy a place of their own in Leominster.

She said, “We found a rehab property we could afford and got a loan through a mortgage company. The interest was high, though. We



paid and paid, but the principal never seemed

Whether you’re looking to refinance your mortgage, or buying your first, second, or third home, we’ve got a mortgage product to fit your needs.

Visit us at www.hfcu.org/mortgage.

to go down.” Then Dawn met Alix, manager of our Natick branch. “Our pipes had burst,”

seemed to budge. “Alix told me to bring

She now does all of her banking with

Dawn said, “so I took a chance and told Alix

all my documents to her, that she’d look

Hanscom FCU. “I look forward to coming

about it. She sat down, ran some numbers,

everything over to see what the credit union

in,” Dawn said. “I know if I have a question,

and all of a sudden, I had a $10,000 credit line,

could do. We refinanced through Hanscom

I’m going to get great advice. It’s more than

enough to get the pipes fixed.”

FCU, which ended up saving us over $500 a

banking. Refinancing with Hanscom changed

month. We get excited every time we pay our

our lives. When you know what to expect, it

During another visit Dawn mentioned her

mortgage because we can see what we owe

makes it easier to plan your next move.”

mortgage, how the amount they owed never

going down.”