Hanscom FCU MoneyWisdom Summer 2019

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

Shape Up Your Estate Plan page 4

Become Password Savvy page 6

Make Your Checking Account

PAY YOU page 6

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Summer 2019

Dorchester, We’ll See You Soon!

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Over $60K Raised for Boston Children’s Hospital On a beautiful spring day in April, three Hanscom FCU charity

his summer will mark the opening of our 22nd branch. To say we’re excited about our new location at South Bay in Dorchester is an

understatement. South Bay is a dynamic, mixed-use community gathering place, with an interesting mix of retailers, services, fitness concepts, and restaurants – including a Wahlburgers right across the street from us.

We look forward to becoming part of the community and serving our members who live south of the city or who are spending the day enjoying South Bay. Stay tuned for our midsummer Grand Opening date!

runners ran the 26.2 miles of the Boston Marathon to help raise a record $63,797 for Boston Children’s Hospital. Our runners were paired with Patient Partners from the renowned hospital, who were there on race day to cheer for #TeamHanscomFCU. #TeamHanscomFCU partners with Credit Unions Kids at Heart, one of the largest collaborative fundraising programs in the nation, to raise money for pediatric brain research projects at Boston Children’s Hospital. One hundred percent of the money raised goes toward the search for treatments, therapies, and cures for Moyamoya disease, Sturge-Weber syndrome, cerebral palsy, and pediatric brain tumors.

Master marathoner Ray Phillips, Hanscom FCU’s chairman of the board, has run the iconic race every year since 2000. He ran to support his longtime Patient Partner, Andy Martin, and finished the race in 5:34:15.

This was Hanscom FCU member advisor Lorie Skelton’s second time running the marathon. She ran in support of her Patient Partner, Timmy, and finished the race in 5:55:22.

Dan Ziniti, Hanscom FCU’s senior vice president of member experience, was a marathon first-timer who ran in support of his Patient Partner, Ryan. Dan finished the race in 5:10:31 … and we hear that he may have been bitten by the marathoning bug like Ray Phillips was almost 20 years ago.

We’re all proud of the commitment and effort our three team members put into this year’s marathon, and we’re grateful for the donations made by our employees and credit union members to make this a record-breaking fundraising year. Thank you for your support!

Statistics

Our Mission

Board of Directors

To be the trusted advisor that

Ray T. Phillips, Chairman

Raymond A. Kahre

Members . ...............................................89,767

people turn to for unbiased

John A. Delcore, Vice Chairman

Hugh W. McNeil

Assets........................................$1,384,000,000

financial guidance.

Mark D. Walsh, Treasurer

David M. Pronchick

Deposits....................................$1,213,900,000

Teresa S. Conrad, Secretary

Lawrence S. Rzepecki

Loans......................................... $1,189,700,000

Paul J. Marotta, Chairman Emeritus 2

Summer 2019

Reserves...................................... $144,500,000 March 31, 2019

BeENLIGHTENED

Is Your Estate Plan Keeping Up With You?

Q

uickly tally the changes in your life

Otherwise, the courts will make the decision

and determine if the division of property is

over the past five years. Perhaps you

for you. If you don’t have a will, some of your

still in line with your wishes. If you have a

have married or divorced, had a child

property may go directly to your children, and

large estate, consider options for reducing the

or increased your wealth. Now, if you haven’t

your surviving spouse may need the court’s

portion of it subject to probate. A revocable

accounted for these changes in your estate

permission to spend or invest the money. Also,

living trust is one choice. It has no effect

plan, your assets could be distributed quite

consider buying life insurance to replace your

until you are incapacitated or die, but lets

differently than you’d like.

earnings or cover home and/or child care costs.

everything in it go directly to your heirs after

Changes Signal Review

You divorce. In some states, a final judgment

Here are some common events that signal it’s

of divorce does not revoke gifts made by your

time to review your estate plan:

will to your former spouse, so make a new will

Seek Our Trust

your death. And you can revoke the trust or change its directions at any time.

and change beneficiaries on retirement plans,

Before making any changes to your estate

You marry. In most states, your spouse is

life insurance policies, and the like. However,

plan, review it as a whole with a trusted

legally entitled to claim a percentage of your

any assets agreed upon in the divorce decree

professional. Our advisors at Hanscom

property after you die, unless you have a

cannot be revoked by your will.

Investment Services are here to help.

written agreement to the contrary. In addition,

To schedule an appointment, call

federal law states that your spouse is the

Your net worth changes significantly.

sole beneficiary of your employer-sponsored

Be sure your will reflects currently held assets

800-656-4328 ext. 2236.

retirement plan, but he or she can waive those rights in writing. If these plans are a significant portion of your estate, be sure to consider this stipulation carefully.

If you now have stepchildren, consider if or how you want to include them in your estate. A trust is one way to help

 Be PREPARED

Looking for an easy way to save for

manage divided loyalties in a blended

next summer’s family vacation? Check

family. It can provide your spouse with

out our automated savings account

income during his or her life, while remaining assets go to your children at your spouse’s death.

CU Thrive at www.hfcu.org/ thrive, which pays a terrific rate!

You have a new life partner. Consider titling major items, such as your home, as joint tenancy with rights of survivorship so that upon death, the other owner immediately inherits the property. Also, your will, beneficiary designations, and a trust can be useful tools to provide for your surviving partner.

You have children. In your will, be sure to designate a guardian for your children if both you and the other parent are unavailable.

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Paul Marotta Is Elected Chairman Emeritus

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anscom Federal Credit Union announced this spring that

devote more time to my many volunteer commitments, grandchildren’s

Paul J. Marotta, its long-serving Chairman of the Board,

activities, and traveling.”

stepped down in order to pursue other credit union and

personal activities. Mr. Marotta was elected Chairman

Mr. Marotta’s appointment to the newly created position

Emeritus at the board organizational meeting following the credit union’s Annual Meeting in May. In addition to his new role, Mr. Marotta will chair the Hanscom FCU Charitable Foundation, Inc. He has always been passionate about charitable causes and dedicated to the credit union spirit of “People Helping People.”

Longtime Director Ray T. Phillips was elected Chairman of the Board. Also elected were John

Recognition of Unparalleled Leadership

I’m deeply humbled to be honored in this way by my fellow Directors, and I look forward to continuing to serve the credit union as a Director.

A. Delcore as Vice Chairman, Mark D. Walsh as Treasurer, and Teresa S. Conrad as Secretary.

of Chairman Emeritus was designed to recognize the unparalleled leadership he’s given to the credit union over the past 27 years. An accountant by trade with a background in auditing, Mr. Marotta held several civilian Air Force roles prior to joining the credit union in 1976, including working as an audit manager and later as Chief of the Commander’s Action Group for the commanding three-star general at Hanscom AFB. He served first on the credit union’s Supervisory Committee before becoming a Director

in 1988. Mr. Marotta was elected Chairman in 1992.

“I’m deeply humbled to be honored in this way by my fellow Directors,” said Mr. Marotta, “and I look forward to continuing to serve

During his years of service to the credit union, Mr. Marotta has

the credit union as a Director. This new role, which is part of a well-

guided Hanscom FCU through some crucial times, including the

organized succession plan for Hanscom FCU, will give me the freedom

implementation of technology, unprecedented member growth,

to mentor future leaders of Hanscom Federal Credit Union as well as

economic fluctuations, and some of the greatest legislative challenges

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Summer 2019

BeINSPIRING the credit union movement has seen. Under his leadership, Hanscom FCU’s assets have surpassed $1 billion and its branch network has grown to 21 locations in two states.

Among his many contributions to Hanscom FCU, Mr. Marotta helped create its Member Advisory Group, which invites members to meet quarterly with credit union management. He was instrumental in establishing the Hanscom Federal Credit Union Charitable Foundation, which has provided $500,000 to the Home Base Program to help military members who suffer from traumatic brain injuries and posttraumatic stress disorder.

A Dedicated Volunteer Mr. Marotta’s community volunteerism is legendary, beginning with the area’s military community. He can always be counted on to lend support to military leadership programs, memorials, events, and organizations including those at Hanscom AFB, Natick Soldier Systems Center, the 66th Security Forces Squadron Defenders Club, the Hanscom AFB Airman Leadership Program, the Lowell High School Air Force JROTC, Hanscom AFB Middle School, the Hanscom AFB Giving Tree program, the Air Force 70th Anniversary Ball, the VA Boston Healthcare System, and the U.S. Marine Corps Toys for Tots campaign, to name a few.

He’s an avid supporter of Boston Children’s Hospital and the Massachusetts Coalition for the Homeless, as well as numerous outreach efforts that enrich local and military communities. He is the Chairman of the Massachusetts Credit Unions Social Responsibility Committee for the Cooperative Credit Union Association (CCUA) and has helped lead the committee to new fundraising heights. He has led events for the Massachusetts Coalition for the Homeless A Bed for Every Child initiative that provides beds for children living in poverty and is an avid supporter of the coalition’s annual children’s book drive. Mr. Marotta has also

Committed to Credit Union Values Under Mr. Marotta’s leadership, Hanscom Federal Credit Union was recognized three times as Air Force Credit Union of the Year, and one time as Army Credit Union of the Year, the National Association of Federally Insured Credit Unions Credit Union of the Year, and Kiplinger’s Personal Finance magazine’s Best Credit Union of the Year, along with numerous other local and national awards. He has been personally honored many times for his commitment to credit union values and the community.

In 2015, the Warren Group, publisher of Banker & Tradesman, named him a Credit Union Hero. The Massachusetts CCUA gave him its Credit Union Community Hope Initiative Outstanding Service Award. Because of his efforts at helping homeless families and charitable organizations, the CCUA established an award in his honor known as the “Paul Marotta Outstanding Service Award.” Furthermore, Mr. Marotta was honored by the Lowell High School Junior ROTC by the naming of the Paul J. Marotta Reach for the Stars Award honoring outstanding cadet leadership within the program.

Other awards Mr. Marotta has received during his tenure as Chairman include the Eugene Ball Chairmen’s Leadership Award from the National Association of Credit Union Chairmen (2014) and Volunteer of the Year by the National Association of Federally Insured Credit Unions (2017). He was inducted into the Defense Credit Union Council Hall of Honor (2018). Just prior to his appointment as Chairman Emeritus, Mr. Marotta was honored by the CCUA with a 2019 Difference Maker Award.

“Hanscom FCU’s Board of Directors has worked tirelessly over the last year to develop a succession plan that best leverages the knowledge and skills we bring to the table so the credit union can continue to grow and move forward,” said Phillips. “We’re delighted that Paul will continue to serve alongside us in his new role.”

spent enormous amounts of time assisting families at Fisher House Boston, which hosts military families at no charge while their loved ones receive treatment through the VA Boston Healthcare System.

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BePROACTIVE

6 Tips for Better Password Protection

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hile Hanscom FCU and its Online Access provider employ multiple layers of security to protect your account information and transactions on our servers and the

internet, good password management is essential to ensure your information remains totally secure. Here are six tips to follow for better password protection on all your accounts, whether at Hanscom FCU or other financial institutions:

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Choose unique passwords for each of your financial institutions and change them regularly.

Create complicated passwords using nonsense phrases and/or include numbers, symbols, and upper- and lowercase letters. It’s tempting to create a password using obvious personal information, but you’re just making it easier for a criminal to crack.

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Be suspicious of any email that asks you to change your password by clicking a link, especially if you haven’t requested a password change. It could be an attempt to phish your password. Instead, visit the website directly and manually change your password there.

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Make sure your computers and mobile devices are password protected to prevent unauthorized access.

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Use a password manager. Avoid writing down passwords or storing them on your computer or smartphone, where they can be accessed easily. A password manager https://go.hfcu.org/ blog/password-manager will keep your user names and passwords encrypted and safe … for your eyes only.

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Avoid typing your password into a computer or device you do not control, and do not log into your financial institution’s website through an unsecured public network, which is vulnerable to hacking.

Instead, log in through a virtual private network (VPN) or wait till you can log in from a secure location.

If you suspect your account was compromised or there was attempted fraud on your Hanscom FCU account, please call 800-656-4328 immediately. We’re open 24 hours a day, 7 days a week.



Be WELL-READ

Our MoneyWisdom blog is chock-full of financial advice, tips, and tricks that’ll help you make more informed decisions

about your money. Subscribe at https://go.hfcu.org/blog.

Get the Checking Account That Pays You With our free

earn 2.50% APY2 with a Kasasa Cash account

Kasasa Cash®

on balances up to $15,000 and our Kasasa

and Kasasa Cash

Cash Back account will pay you 2.00% cash

Back® checking, wave goodbye to the days of

back on your debit card purchases3, up to

forking over a fee every month, simply for the

$84 cash back per year ($7 a month).

ability to write checks. Our Kasasa checking products actually pay you for doing the stuff

So if you’re ready to get rewarded with high

you probably already do with your account,

rates and cash back with your checking

like using it to direct deposit your paycheck,

account, drop by one of our 21 branches and

paying for gas or groceries with your debit

speak with a Member Services Representative

card, and downloading your monthly

or learn more at www.hfcu.org/kasasa.

statements. We’ll even refund you up to $20 monthly on ATM withdrawals you make, nationwide1.

As for the interest and cash back? Once you meet your qualifications each month, you can 6

Summer 2019

Nationwide ATM fee refunds offered in qualifying cycles.

ATM fees will not be refunded in Monthly Qualification Cycles that you do not meet the qualification requirements.

Other financial institutions may impose a surcharge for use of their ATMs.

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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

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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.

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.

“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. Rewards are subject to change and may change after account is opened.

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Please refer to our Fee Schedule at https://www.hfcu.org/ content/docs/fee_schedule.pdf for current fees and charges.

BeCHARITABLE

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Hanscom FCU in the News 1

Hanscom FCU Builds Beds for Children in Need

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Hanscom FCU Marketing Outreach Wins Diamond Award

This spring, volunteers from the credit union, along with cadets from

Hanscom FCU won a prestigious Diamond Award for a brand awareness

Lowell High School’s Air Force JROTC and UMASS Lowell’s ROTC, joined

campaign in the CUNA Marketing & Business Development Council’s

together to build 30 twin-sized beds for area children in need. The

annual awards competition. The eco-friendly campaign, which included

“Build a Bed” event supported A Bed for Every Child initiative of the

a mailer that could be planted to grow flowers and herbs, encouraged

Massachusetts Coalition for the Homeless.

local residents to visit our new branch in Littleton, MA.

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Local Teens Participate in CU 4 Reality Over 60 Air Force JROTC cadets attended Hanscom FCU’s

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Blankets and Hats Donated to the Homeless The credit union, through its commitment to the Cooperative

annual CU 4 Reality™ fair in April. The event gave student-cadets

Credit Union Association’s annual drive, collected a total of 244 blankets

from Lowell and Bedford (MA) high schools the opportunity to apply

to donate to families experiencing homelessness. In addition, volunteer

lessons they learned in personal finance classes in a test run of

staff members knitted 86 hats to donate to the Massachusetts Coalition

financial responsibility.

for the Homeless through the Coalition.

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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.

Keep Your Contact Information Current

M

oving this summer? Has your phone number or email address changed? Remember to let us know what your new address will be. It’s important to safeguard your

identity. Your statements and other important account notifications could be getting into the hands of a stranger at your old address.

We have several easy ways to ensure we’re always able to stay in touch, wherever you are in the world: o online – Log into your Online Access HD account, G select “Services” from the menu, and then select “Address Change.”

By mail or fax – Print and sign our change of address form at https://www.hfcu.org/forms and return it to Hanscom Federal Credit Union, 25 Porter Rd., Ste. 100, Littleton, MA 01460-1434 or fax 978-952-8535.

Visit any branch in person and speak with one of our Member Service Representatives. Be sure to bring a government-issued photo ID with you.

Please note that to protect your security, we cannot make address, phone number, and email address changes over the phone.

 Be ORGANIZED

Spend more time outside this summer and less time paying bills with Online Access HD. Learn more at www.hfcu.org/access.