Checkpoint Magazine - Winter 2021

Stronger Together: Expanding Our Reach To Improve Financial Lives I N

Letter from the President

T H I S

Spotlight: Anderson Interfaith Ministries

I S S U E

Maximize Your Tax Return

Top To-Dos in Anderson

LOCATIONS Anderson

1720 North Main Street Anderson, SC 29621 1434 Pearman Dairy Road Anderson, SC 29625 100 Hanna Crossing Anderson, SC 29621

Columbia

1025 Pulaski Street Columbia, SC 29201

Corporate Office & Support Center

420 E. Park Avenue, Ste. 100 Greenville, SC 29601

Easley

118 Brushy Creek Road Easley, SC 29642

Five Forks

117 Batesville Road, Ste. 200 Simpsonville, SC 29681

Member Service Center

Greenville: 864.232.5553 Nationwide: 800.922.0446

Mills Avenue

300 Mills Avenue Greenville, SC 29605

Spartanburg

130 North Town Drive Spartanburg, SC 29303

Taylors

3237 Wade Hampton Boulevard Taylors, SC 29687

Verdae

601 Verdae Boulevard Greenville, SC 29607

24/7/365 SERVICE MONEYLINKSM Online

at www.spero.financial

MONEYLINKSM Audio Response Greenville: 864.232.3645 Nationwide: 800.633.4364

Visit our website www.spero.financial to locate an ATM near you!

FIND US ONLINE /MySperoFi @MySperoFi @MySperoFi www.spero.financial

IN THE ISSUE:

3 4 6 9 13 14 16

Letter from the President Community Spotlight: ANDERSON INTERFAITH MINISTRIES Volunteer Spotlight: HUGH BURGESS Feature: H OW TO PROTECT YOUR IDENTIT Y ONLINE What We Read: THE TOTAL MONEY MAKEOVER BY DAVE RAMSEY Money Management: 7 TIPS TO MAXIMIZE YOUR TAX RETURN Lifestyle: THE TOP TO-DOS IN ANDERSON, SC

Insured by NCUA Spero Financial is a proud member of the Credit Union Service Center Network. co-opcreditunions.org Copyright ©2021 by Spero Financial and The Brand Leader. All foreign and U.S. rights reserved.

Contents of this publication, including images, may not be reproduced without written consent from the publisher.

Published for Spero Financial by The Brand Leader.

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F I N A N C I A L

W E L L N E S S

Financial success starts with financial wellness.

Financial wellness starts here.

Financial wellness is at the heart of our mission to improve financial lives. Access free resources 24/7 at spero.financial/FinancialEducation.

Talk to us to learn more!

Insured by NCUA.

Dear Members, As we look into the face of 2021, many of us are grateful to be rid of the past year — a year that for so many held much uncertainty and disruption. And while we agree that 2020 may go down in history as one of the most unexpected and unusual times our generation has ever experienced, we would be remiss if we didn’t also reflect on some of the silver linings that this past year brought our organization.

I am incredibly excited about one of the biggest milestones that happened in 2020 — becoming Spero Financial. It was no small task, but I am happy to say that it has proven to be one of the most significant

Letter from the President

things that we did last year; one that will undoubtedly shape our organization for the years to come.

Of course, this news came directly in tandem with our announcement that Anderson Federal Credit Union would join Spero Financial — a partnership that strengthens our position in the Upstate and Midlands of South Carolina even further. I am excited to share that the transition was completed on Monday, February 1, as AFCU opened as Spero Financial.

With that, Spero now boasts 10 banking locations throughout the Upstate and the Midlands, allowing us to further our mission to improve financial lives and deepen our roots in our local communities.

To celebrate this great milestone of 2021, this edition of Checkpoint Magazine highlights “all things Anderson”. Learn about the similarities in AFCU’s and Spero’s histories and core values by hearing first-hand from board member Hugh Burgess, who was not only instrumental in the recent partnership, but has proven himself an integral part of the

Brian McKay PRESIDENT

Anderson community. Read about Anderson Interfaith Ministries (AIM) — our community spotlight — and how Spero Financial will continue the efforts of AFCU in providing support to this great organization. If, by some chance, you haven’t been to Anderson recently, I hope you’ll take a look at our article “The Top To-Dos in Anderson” to learn more about our new community.

Finally, as we look forward into a new year, we cannot wait to gather again in-person to celebrate and reflect on our past year’s success. Mark your calendars for our Annual Members Meeting in October. We hope that by this time we will be able to safely gather for a time of celebration and reconnecting. Stay tuned for more details in the coming months.

For you, our members, I truly hope that 2021 is a prosperous and successful year in all areas of your life. If we can be of any help to you or your family, we hope you’ll reach out.

Together, we’re reaching new heights!

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In the Spotlight Anderson Interfaith Ministries More than 20 years ago, Anderson Federal Credit Union partnered with Anderson Interfaith Ministries (AIM) to serve their constituents — through providing financial education and advice. Today, Spero Financial is looking forward to continuing that legacy, and growing the financial well-being and growth of the Anderson area.

When AIM opened their doors over 30 years ago, the goal was simple: to meet the needs of the local community efficiently, without duplicating efforts among other charitable non-profits.

From the time they opened their doors in a rent-free building off of Manning Street, their focus has been on creating self-sufficiency of those most in need through a “hand up, not hand out” mentality.

Since that time, AIM has grown to a campus of five buildings, and diversified its base of support outside of its founding churches to also include foundations, corporations, government agencies, individuals, and civic clubs. From the original 20 volunteers, the organization

is now comprised of around 20 staff and more than 500 volunteers throughout the Anderson community. And with five programs that focus on hunger, housing, employment, education, and urgent support, the organization serves thousands of people in the Anderson area each year — more than 13,000 in 2019 alone.

When a client comes to AIM in crisis, the first steps taken are to serve and meet the client's immediate need. Then, AIM works alongside the client to get a better understanding of the core issues that are keeping the individual in hardship, and a plan is created to help the client work towards self-sufficiency and the bright future ahead of them!

As Spero Financial, we will continue to support AIM and other community organizations to inspire hope in Anderson. If you’d like to get involved with this ministry, please visit their site at aimcharity.org.

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Clients may need help in one or many of five service areas: • Pivotal Support From financial education to emergency bill payment, AIM assists people with their immediate crisis and provides them with the tools that can change their future.

• Hunger Ministries This program is designed to help alleviate the hunger problem within the Anderson community for those residents in temporary need or who are receiving SNAP benefits. AIM's food pantry assists an average of 35+ people each day, totaling around 10,000 families a year.

• Housing This department assists lowincome homeowners to remain in their homes by providing ramps and other necessary repairs that threaten the health and safety of these families.

• Employment Pathways Focused on helping people find meaningful employment, this program can help with everything from resumes to filling out applications.

Holiday Closings

01/18 M A R T I N L U T H E R K I N G J R . D AY

02/15 P R E S I D E N T S ' D AY

Want the most up-to-date information, new news, and resources you can use?

Follow us on our social channels! /MySperoFi @MySperoFi @MySperoFi www.spero.financial

• Women & Children Succeeding WACS is an empowerment program for mothers pursuing a post-secondary degree.

These five major program areas act as a continuum of care to address clients' basic needs and self-sufficiency challenges, and also provide meaningful opportunities for participants to give back.

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Committed to Community:

Meet Hugh Burgess W ith the recent transition of AFCU to

Spero Financial, you may be seeing a

new face around Spero — that of Hugh Burgess, one of AFCU’s most influential board chairs and a stronghold in the Anderson community.

“For my wife, Rita and I, we intentionally have a filter for where we put our ‘time, talent, and treasure’ in our community service,” he said. “It’s simple; we ask two questions: ‘Do they give hope?

And are they changing lives?’ If you look at our service, AFCU always passed that test, and we are confident Spero Financial passes and will continue to pass that test!”

Born in Seneca, Hugh was one of six children growing up in a Textile Community called Utica — home to the J. P. Stevens Plant. At that time, living in the Textile Capital of the World, it was inevitable that he would work at the plant — just as five of the eight members of his family did, including Hugh, who went to work for them on his 16th birthday.

Over the years, Hugh would serve throughout the Anderson community. In business, he served 18 years in multiple positions with the former Clark Schwebel Inc — the world’s largest producer of glass, Kevlar, and other technical fabrics — then as the President of Consolidated Southern Industries — a mechanical, electrical, and general contractor.

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VO LUN TEER SPOT LIGH T

Personally, Hugh is very active in the Anderson

“We are truly excited about this partnership,”

community, serving on the AnMed Health

Hugh said.

Foundation Board as a Trustee and Past Chair, Tri-County Technical College Foundation Board, and with the Anderson University Board of Trustees where he serves as the Chairman of the Finance Committee and serves on the Executive Committee. His past service also includes the Anderson Area YMCA, the Anderson - Oconee Vocational Rehabilitation Services Board, the Anderson Interfaith Ministries Board, now called AIM, and the Rotary Club of Anderson.

Additionally, Hugh and Rita have spent the last two years focused on Membership Development with the Anderson Area Chamber of Commerce.

But most recently, Hugh served as the Chairman of the Anderson Federal Credit Union Board of Directors, where he was influential in the decision to merge AFCU with Spero Financial.

“We had looked at other opportunities to merge or partner, but the values and the culture between AFCU and Spero (previously SC Telco) just fit,” said Hugh. With a lot of due diligence, the board knew it was the right move. “We both had similar long histories, the philosophy that

The new name says it all: Hope!

This means that we can serve our members better. It means we can serve our community better and it means more opportunity for our employees.

every member matters, and both organizations knew that this was going to be a great marriage!”

But for Hugh, the greatest part of his service, and of being able to see the partnership of AFCU

Part of that great marriage, he noted, was the

and Spero finally complete is the potential that

commitment to the community that flowed

lives now within the partnership.

through both organizations — a focus on using available resources to better those around them.

“The sum of the new Spero is greater than the two parts — AFCU and SC Telco,” he said. “Not

Today, Hugh has continued his service to

only did it meet all of our goals as a board for

AFCU — now, Spero — to serve on the Spero

AFCU, but this partnership accomplishes our

Financial board and represent the interests of

future vision today! There is no doubt — we are

members in the Anderson area.

stronger together!”

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P R O T E C T +

Start the new year with a focus on financial security.

Spero’s Protect+ package elevates your financial security. By combining ID theft protection, credit monitoring, and mobile phone protection, you can breathe a sigh of relief that we’re helping safeguard you and your finances.

Add Protect+ to your Spero checking account for only $5.00 per month.

Talk to us to learn more!

*Membership Required.

Insurance Products are not insured by the NCUA or any Federal Government Agency; not a deposit of or guaranteed by the credit union or any credit union affiliate.

Uniquely You How to Protect Your Identity Online

I

f there’s one financial issue that carries with it a high amount of risk, it’s identity theft — an issue that can carry long-term ramifications for you

should you be caught up in the middle of it. In fact, in the last 10 years, there were around 9,600 reported data breaches in the U.S., resulting in more than 10 billion records stolen, according to data firm Comparitech.

Because there are numerous negative consequences of having your identity stolen, it’s important that you do everything you can to prevent having your identity compromised or stolen in the first place. Fortunately, there are steps that you can take — not only to prevent future fraud on your accounts, but to protect your digital footprint and create a safe haven for you to operate online at lower risk.

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SEARCH YOURSELF ONLINE

Do you know what information pops up when you search your own name? You may be surprised; everything from family members to home addresses and tax information could come up — and little bits of information can quickly lead to larger sources.

Where you can, opt out of the sites that list information you don’t want made public; and for the future, remember that the internet has a memory that never forgets.

REPORT FRAUDULENT ACCOUNTS

If you happen to notice that there’s someone out there posing as you, or your social media account gets duplicated, report it immediately. It doesn’t take much for a well-meaning friend who thinks they are talking to you to give someone too much information.

DELETE THE OLD STUFF

If you have old accounts that you don’t use — be they social media, credit card, banking, or otherwise — get rid of them. Take the effort to delete the accounts, and remember that “deactivation” is not the same thing as “deletion.”

C H A N G E YO U R PAS SWO R D S

Using the same, familiar password across all of your online accounts may be convenient, but it’s also a recipe for disaster. Instead, make up unique passwords, usernames, or confirmation questions for each account you’re on. Then, keep track of them with an encrypted (coded in cipher) software program that protects your information.

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HOW TO P R OTEC T YO UR ID ENT ITY ONLINE

P R OT E C T YO U R I N F O R M AT I O N

When you’re online, be careful of what you’re sharing, and with whom. Double check your privacy settings on social media accounts, and avoid quizzes or apps that ask personal questions.

GET RID OF COOKIES

Cookies (the online kind) can be helpful to remember passwords and common information, but they can also put you at risk. These small files attach to each site you visit, storing information to make future visits quicker and easier, but can also store that information to be available to others, if they can find it. Adhere to a consistent schedule where you delete your online cookies and history, or opt for private browsing or incognito screens where possible.

READ THE FINE PRINT

Sure, no one wants to read the fine print in those Terms & Conditions pages, but skipping it is a good way to get yourself into trouble. Take the time to read through what privacy you are giving up when you sign up for something, and make sure that it’s worth the trade.

GET ADDED PROTECTION

Fortunately, there are options for extra protection on online accounts, and your banking accounts are no different. There are a number of apps and programs designed to help you keep an extra eye on your accounts, and offer additional protective measures as an added benefit. As a Spero Financial member, you can add the Protect+ package to any Spero checking account for $5 each month, which covers reimbursement costs in cases of ID theft, as well as credit reports, access to resolution services, and credit file monitoring.

When it comes down to it, your identity is one of the most important things you have, so make sure you protect it! If we at Spero Financial can help in any way, please let us know, and be sure to ask your member representative about how Protect+ can help you stay out of harm’s way. Visit www.spero.financial/protect-plus for all the details!

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P E R S O N A L

L O A N

New year. (Thankfully) New you. (Financially) Make this the year you take control of your finances. Consolidate high-interest payments with a Spero Personal Loan and save money on interest!

Apply today for same-day funding.*

Insured by NCUA. Membership required. Subject to credit approval. *Same-day funding available on loans if: (1) the application is received by 2:00 p.m. on any day the credit union is open; (2) your application is approved using our standard underwriting guidelines; (3) you’ve provided all relevant information requested and we’ve had an opportunity to verify the information provided; and (4) you’ve reviewed and signed your loan agreements and disclosures.

What We Read The Total Money Makeover: A Proven Plan for Financial Fitness

by Dave Ramsey

SYNOPSIS

In financial guru Dave Ramsey’s cornerstone book, The Total Money Makeover, Ramsey lays out a proven plan for financial health, with the goal of becoming “Debt Free.”

Outlining seven “baby steps,” the book takes Ramsey’s decades of experience in creating financial stability and makes it accessible to anyone.

WHY READ IT

When it comes to creating financial stability, few accomplishments can have as much impact as paying off overhanging debt. And when it comes to paying off that debt, few others have the clout that Dave Ramsey does.

By taking the plan step by step, Ramsey ensures that the path forward works for everyone — no matter how big the mountain of debt, or how much progress you can make each month.

THE FINAL WORD

If you’re looking to pay off debt and get out from under the weight of your

A S P E C I A L TA K E AWAY

monthly bills, the Total

Although “Pay Off Debt” is technically only one step (Step

Money Makeover is a great

#2 of the 7 Baby Steps), creating a debt snowball is one

start. For an even deeper

of the most effective ways to pay off debt — quickly and

understanding — put into

consistently — and it actually consists of as many steps

practice — find a local

as you have owing accounts. Essentially, you’ll pay off the

organization that teaches

lowest balance first, then add that monthly payment to the

Financial Peace — a

monthly payment on your next balance, continuing to pay

program built off the same

off and add those payment dollars to the next balance. As

foundational principles of

the balances get larger, so does the snowball!

this book.

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7 Tips to Maximize Your Tax Return

Let’s be honest, we’re all looking for ways we can reduce what we owe. But, minimizing what you owe and maximizing on your tax return isn’t just about finding credits or reducing your income. In fact, there are several ways that you can maximize your tax return without investing extra time, energy, or money. Let’s see how!

ONE

Confirm Your Filing Status

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There are five primary filing statuses, and they’re all pretty self-explanatory: single, head of household, married filing jointly, married filing separately, and a qualifying widower. However, since a few of them could apply to your situation, you’ll want to choose the one that benefits you the most.

TWO

Itemize your Return

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One of the most notable differences in the 2018

tax laws was that the standard deduction almost doubled, replacing a number of other deductions that once existed. Today, the standard deduction

for single filers is $12,200. Married filing jointly is $24,400, and according to the IRS, is the way that about 90 percent of the populace will file.

THREE

Find Deductions and Credits

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The opportunities for tax deductions and tax

credits are plentiful and often based on something

you’re already doing. The key is to make sure you’re capitalizing on those actions.

Deductions and Credits may include, but are not limited to: mortgage interest; medical expenses; home office or office supplies; state income taxes paid; student loan interest; state sales tax paid; and charitable gifts and donations.

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This information is for educational purposes only. Please consult a tax advisor for professional advice.

S EVEN TIP S TO MAXIM IZ E YO UR TA X RE TURN

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FOUR

Add to Your Retirement

Did you know the government will give you credit for putting your money away for the future? It’s true! When you contribute to an individual

Member Benefit Alert!

retirement account (IRA), you can get a deduction of up to $6,000 per year. (Individuals over the age of 50 can claim up to $7,000.) But that’s not all. Uncle Sam also allows a “saver’s credit,” which offers $1,000 back (or $2,000 for married couples) if you contribute to your IRA.

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FIVE

Give more

Charitable donations aren’t just calculated by how big of a check you

Did you know that as

wrote to your local non-profit; even the cake you made for Johnny’s bake

a Spero member, you can

sale can qualify (as long as you keep the receipts). Make sure you keep

get $15 off your next

clean records so you can prove when and where and for whose benefit you donated your time and resources.

purchase of TurboTax?

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Make doing your taxes this

SIX

year easy, with guaranteed

File on Time

calculation accuracy.

Although the deadline for your 2019 tax return seemed to be a moving

target due to the impact of COVID-19, the 2020 tax season should return to normal. This means that your tax return must be postmarked or

For more information, visit www.spero.financial.

electronically filed by April 15, 2021, to be considered “on time.”

SEVEN

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It may seem like a no-brainer, but mistakes on your tax return can cost

you. Make sure that you include all income — even that which you may not have received paperwork for (i.e., a 1099 for independent work as a contractor or income from interest).

Tax returns don’t have to be very complicated, but as with most things involving the government and money, it’s not something you want to make a mistake on. For your best interest, consult with an accountant or tax preparation service that can double-check your return for missing credits and missing income. This will not only help you maximize your return but also keep you from accidentally getting into hot water.

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Something Electric is in the Air:

The Top To-Dos in Anderson, SC

C

alled “The Electric City,” Anderson got the nickname when it became one of the first American cities to push electricity

to residents’ homes in the late 19th century. Even now, more than a century later, the area remains a hub for business and innovation in the Upstate area.

If it’s been a while since you’ve made your way down to Anderson, you may find that you’ve been missing out. Located halfway between Atlanta and Charlotte, the area is booming, and with a focus on both entrepreneurship and corporate growth, the area will likely remain a big area of growth for some time.

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THE TO P TO - D O S IN ANDE RSON, SC

If you don’t know why the area is so popular, now might be the time to plan a side trip to the city to find out. To help, we’ve laid out a few ideas to round out your next day trip to the Electric City. Also, check out andersonscliving.com for the latest happenings.

Food From diners to good ol’ Southern BBQ, there are tons of options to grab lunch or a quick snack as you make your way around the county. For some local favorites, grab some ribs at The Smokin’ Pig, or search out Fig’s Cafe and Farmacy for something a little lighter. For an afternoon pick-me-up, be sure to visit the Sweetery or Coyote Coffee for something sweet. Then, stick around for dinner at Sullivan’s Metropolitan Grill, a local element with an upscale flair.

Things To Do There’s plenty to do in the area, whether you like to shop around or explore nature. For those nature-seekers, head to nearby Lake Hartwell for a local boat tour or to just relax and catch a few fish, or rent a kayak from Saluda River Rambler for a trip downstream. For something a bit more central, visit local shops like CocoBon Chocolatier and Palmetto Distillery for some samples of great local tastes.

Meanwhile, history buffs can head to Timms Mill, a fully renovated, 18th century grist mill, or the local Ashtabula plantation for a tour.

Something Special If you’re looking for something unique to do while you’re in town, there are a number of special events that happen throughout the year. Catch a free movie in Carolina Wren Park on the second Friday of each month — you’ll even get free admission! In late September, head out to Denver Downs, a South Carolina Century Farm, for fall fun with hayrides, a corn maze, live music and more. Then, October brings the Fresh Taste event, with farm-to-table meals featured throughout the celebration.

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PO Box 10708 Greenville, SC 29603 www.spero.financial