Moneywisdom hanscom fcu fall16 by HanscomFCU

MoneyWisdom Fall 2016

SHRINK YOUR DEBT

We Can Help You Make a Plan 3 29 Tips to Avoid ID THEFT 4 Election Year Investment Jitters?

OUR #1 PIECE OF ADVICE

A CO MPL I ME NTA RY SUB SCRIP TION FROM HAN SCOM FCU

CHAIRMAN’S CORNER Paul J. Marotta, Chairman

credit unions: your strongest advocate We are proud of Hanscom FCU’s 63-year tradition of providing superior financial service responsive to members’ needs. Our sole purpose is to help you live a better life and help our community prosper. Those of you who already belong to a credit union know the power of cooperative organization. However, too many others are not aware of the credit union difference. The time to spread awareness is now, and you can help. The Credit Union National Association, our trade group, has developed an awareness initiative that identifies the four key differences between credit unions and all other financial institutions. With support from credit union members around the country, we are using these statements to bring more members into the credit union movement.

Credit Union Day

1 Credit unions are different from banks. We are owned and controlled by the people who use our services. The cooperative structure of credit unions creates a cycle of mutual assistance toward the common goal of the financial well-being of members.

Join us at any branch on Thursday, Oct. 20 for refreshments as we celebrate International Credit Union Day. Since 1948, on the third Thursday of every October, credit unions have celebrated the principles that make credit unions the best financial partners of people all over the world.

2 Credit unions are not-for-profit, unlike Wall Street. We exist solely to serve members, not to earn profits or satisfy stockholders. 3 Credit unions are member-owned, like Main Street. Our purpose is to improve all members’ personal finances with well-priced loans and higher rates on savings. 4 Credit unions return earnings to members. Hanscom FCU has returned funds through annual loyalty dividends and loan rebates, as well as keeping loan rates low, savings rates high and reduced fees. These messages have a proven ability to change behaviors and encourage people to join a credit union. We invite you to share your credit union with friends and family at www.hfcu.org/refer. When you successfully refer a new member from this link, both of you earn a $30 bonus. 2

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CELEBRATE INTERNATIONAL

“The authentic difference,” this year’s ICU Day theme, zeroes in on what makes credit unions different from banks, fintech startups and other financial institutions – our principles. Learn more about International Credit Union Day and all Hanscom FCU events at www.hfcu.org/events.

MONEY SAVING TIPS

Transfer a Credit Card Balance to

CUT THE COST OF DEBT

How did you accumulate the debt? If overspending is an issue, address this first. Otherwise, you’re just shifting debt around and you could end up owing even more. Once you’ve established that your debt is manageable and you’re committed to paying it off, contact us to help you plan. You’ll learn the best moves to reduce your debt and boost your credit score.

Next, work your plan until your debt is gone. Finally, stay committed to debt-free living by establishing an emergency savings account and planning ahead for known expenses.

There is no magic wand to poof away debt. However, by managing your credit card balances thoughtfully, you can shrink them faster and reduce what you pay in finance charges. First, you’ll need some details about your finances. How much unsecured debt do you have? Include credit card balances, medical debt and personal loans. Can you see yourself paying it off in 5 years? What is your interest rate? You could save by consolidating debt to one card with a consistent low rate. Plus, making just one payment guards against missing a due date and getting dinged with a late fee. Consult one of our member service representatives for a free credit score review first to learn how this could affect your score.

Visit www.hfcu.org/balancetransfer to see how consolidating debt can help you reduce costs.

Win $10,000, Help the Homeless Enter our raffle to win a Hanscom FCU ATM & Check Card preloaded with $10,000. Imagine a spectacular winter getaway, a special purchase or pushing a long-held financial goal to the finish line. Tickets are $20 and sales are limited to 1,500. The raffle winner will be drawn when all tickets are sold, but no later than Dec. 31, 2016. Your ticket purchase will benefit the Massachusetts Coalition for the Homeless, an association of organizations working to address the issues that lead to homelessness. Tickets are available now at a branch, on our website or by telephone. So buy yours today and start dreaming how you’d use your $10,000 ATM & Check Card! Visit www.hfcu.org/win, stop by a branch or call 800-656-4328 for a copy of raffle terms and conditions. 3

WAYS TO PROTECT Yourself from Identity Theft

Do you keep your many passwords in a computer file labeled “passwords”? Do you type in your mother’s maiden name when asked by a security feature? Do you like to do your online holiday shopping while sipping coffee at Panera? If you answered yes to any of these, it is time to update your habits.

Do not give personal information over the phone. Ask for a number where you can return the call. Before calling, do due diligence in referencing whether the number is legitimate. If, for example, the caller claims to be from your doctor’s office, check to see if the phone number matches your doctor’s.

As the number of identity theft incidents rises, it seems more challenging to combat the crime. According to the U.S. Department of Justice, 17.6 million Americans were victims of identity theft in 2014 – and that number is growing.

Guard your mail. Pick up your mail promptly after it is delivered. Do not leave outgoing mail in your mailbox. If you are going on vacation, request a vacation hold at your local post office.

The majority of those incidents involved the account takeover of an existing credit card or bank account. Think of the hassle involved in cleaning up after such a personal attack.

Report a change of address. You want your paper trail to follow you when you move. Do not allow it to fall into the wrong hands. Make it a priority to update your address with schools, credit unions and banks, credit card companies, insurance companies and the IRS.

While we may not be able to stop this speeding train, there are ways to reduce our vulnerability. To start, make it a priority to review some of these tips to protect you (and your family).

at home

Look for our upcoming Identity Theft Lunch and Learn programs. These seminars are free, you get lunch and – most importantly – you can learn more about protecting your identity. Find one near you at www.hfcu.org/events.

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Be cautious when allowing strangers into your home. Hire service workers from a reputable company. Consider conducting a background check. This is especially important for the elderly, who are often targeted by thieves.

online

Know your billing cycles. If a credit card statement or other bill does not arrive at its regularly scheduled time, contact the issuer for information.

Review your credit report regularly. This will help you more readily identify suspicious activity. You can get copies of your credit reports from all three credit reporting agencies for free once a year. Hanscom FCU members can access their credit scores and reports at no charge.

Check your Social Security Administration earnings statement annually. You may find signs of fraud if someone is using your identification to work or make claims.

Set up fraud alerts for your accounts. These alerts will notify you if attempts are made to change your account settings or if an unfamiliar device is accessing your account.

Be responsible with important paperwork. File statements that contain personal information, including account numbers, in a secure area. Shred such documents before throwing them away.

Use strong passwords. Avoid cliché and predictable passwords. Change your passwords at least every month, and use different passwords for different accounts.

Keep important information off of your computer. It is tempting to make a list of all your passwords in file labeled “passwords,” the kids’ Social Security numbers and the family birthday list. But if your computer is ever hacked or stolen, this information goes with it.

Be wary of emailed links. Do not click on them. Many scammers use this as a phishing tactic.

PROTECT YOURSELF

Check your banking and credit card statements online daily. It might seem obsessive, but a quick daily check-in with your accounts is the fastest and easiest way to spot a transaction that isn’t yours.

Avoid public Wi-Fi connections and unrecognizable Wi-Fi options. If you must use public Wi-Fi, do not conduct personal business involving sensitive data. This includes shopping and personal banking websites, and any website that requires a login and password.

Double-check websites before offering information. Many popular websites have been cloned. Before entering your credit card or other personal information, check the web address to be sure that it is a secure website and the link is spelled correctly.

Adjust social media security settings regularly. Facebook and other social media platforms occasionally change their privacy settings. Take time to review your account settings at least once a month, and do not accept friend requests from strangers.

Update your computer. Security patches, anti-virus software, spyware and firewalls should be installed and updated.

Lock your devices with a password. Close all open programs before turning off your computer or smartphone.

Wipe your devices before getting rid of them. Search online for the best ways to clean your computer, smartphone or other information-storing devices before you toss or sell them.

Limit the amount of information you provide for online forms. When filling out website forms, only provide the required information to reputable and familiar websites. If there is no * indicating “required,” leave it blank.

Think of alternatives to common security questions. When asked for your mother’s maiden name or your pet’s name, be prepared with alternative answers. The less information you put on the internet, the harder you make it for scammers to steal your information.

Only carry what you need. Leave unnecessary credit cards and other identifying information at home. This will limit the damage if you lose your wallet.

Think twice before applying for store cards while in the store. It is tempting to get the extra discount offered at many check-out lines by applying for a credit card. But realize that by filling out a form in the store, you are handing your personal information to a stranger. If you are interested in applying for a store card, consider applying on the company’s secure website.

Avoid suspicious card readers and ATMs. If you suspect that a machine has been tampered with, do not use it. Cover the keyboard when entering a PIN. If someone is hovering near you when you enter the PIN, ask them to back up.

Store your information safely. While at work, keep your purse and smartphone in a secure and locked location. Do not leave laptops, phones or wallets in your car.

in public

Take care when using social media. It’s fun to post vacation pictures, but you’re also letting all know you’re not home. Wait until you return from your travels before posting. Other information to protect from social media includes your birthdate, the birthdays of family members, the name of your child’s school and your address. It is also best not to post your pet’s name or your mother’s maiden name, as these are often used for online security questions.

Do not carry your Social Security card with you. Your card should be stored in a secure location.

Protect your Social Security number. Many organizations ask for it, but few need it. Ask if you can use an alternate number.

Your goal is to protect yourself and those you love from the cost of identity theft. Many of these tips are common sense, but it is helpful to revisit this list often and refresh outdated habits.

To safeguard against fraudulent activity, members of Hanscom FCU can access their credit reports at no charge. Learn more at www.hfcu.org/score.

the bottom line The most critical piece of advice investors should remember during an election year is to avoid making impulsive moves. Knee-jerk reactions to election year stock predictions won’t do your investment portfolio any good. Unless you have a crystal ball, it’s almost impossible to anticipate the ebb and flow of stock market cycles. Rather than try to guess the next president and how it will affect your portfolio, you’d be better served by focusing on investment strategies that are within your control. So block out all the election year noise and stay your current course, or make adjustments to your portfolio based on sound investment strategy – not emotions. For help with your investments, contact Hanscom Financial Services. Call 800-656-4328, ext. 2236 to set up a free consultation with a financial consultant.

ELECTION YEAR Investment Jitters?

If you’re feeling a little uneasy about what’s going to happen to your investment portfolio when a new president is elected, you’re not alone. Every four years during election season, people’s heads start spinning with all sorts of stock market warnings and predictions based on who will win the White House. And while some of this noise may seem trivial, elections do, in fact, occasionally affect the perception of the U.S. economy and how well it performs. That’s because so much uncertainty often leads to inaction. Will taxes go up? What will happen with health care? How will new policies affect my investments? With all these questions looming, it can be tempting to make impulsive decisions or the opposite – do nothing at all. It’s important to remember that how well stocks perform during an election year has more to do with the economic climate than with which candidate is elected. In fact, data suggests that, historically, all the hysteria is unfounded: Unless there’s a recession to blame, stock market returns are only slightly weaker than normal during an election year.*

democrat or republican: does it matter? The short answer to this question is no. While the party that wins the presidency will have a significant impact on many areas, your stock portfolio is probably not one of them. The perception that Republicans are more business-friendly, and therefore better for the stock market, is skewed. On the contrary, since 1900, the Dow Jones industrial average has been up an average of 9% annually during a Democratic administration, compared to 6% when Republicans were leading the country.** 6

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* Source: Market Watch. ** Source: Kiplinger. Investment products: • Not federally insured • Not a deposit of this institution • May lose value

For help with your investments, contact a financial consultant at Hanscom Financial Services.

PEOPLE HELPING PEOPLE

Hanscom FCU IN

THE NEWS

who’s got spirit? we do! Hanscom FCU Chairman of the Board Paul Marotta (center left), and President/CEO David Sprague (center right), presented a fire hydrant filled with candy to the “top dogs” at the Team Hanscom Quarterly Award ceremony. The work group, known by initials AFLCMC/HN, received the Team Spirit Award for the most enthusiasm.

lowell high student is reaching for the stars

dinner is served at fisher house boston

Alex Poirer, right, received the 2016 Paul J. Marotta Reach for the Stars Award from Multimedia Manager Bill Burpeau. This $250 scholarship goes annually to a Lowell High School Junior AFROTC cadet who excels in encouraging peers to reach their potential and best displays the core values of the U.S. Air Force.

Hanscom FCU staff and volunteers regularly visit Fisher House Boston to cook dinner for families of hospitalized veterans. Recently, Phil Purcell, VP Commercial Lending; Sheryl Berglund, Human Resources Manager; Paula Seremetis, Risk Manager; and David Sprague, President/CEO prepared a meal at the West Roxbury location.

our hero has love of country and family Ken Hopkins, Hanscom FCU Hero Among Us, prepares to throw out the first pitch at a Lowell Spinners game. Mr. Hopkins, a veteran of WWII, Korea and Vietnam, was honored at the game as a Hero Among Us. He and his wife, Barbara, also celebrated their 67th wedding anniversary on the day of the game.

hanscom fcu continues the fight against cancer even patriots love ice cream! We helped welcome home over 60 people who returned to Hanscom AFB from a deployment over the past year. The Hanscom Heroes Homecoming included an award ceremony, a parade and, of course, ice cream from Hanscom FCU. Below, Relationship Manager Dan Capra and AVP Partner Relations Maria Porto shared treats with the Lexington Minutemen.

Our team raised $8,465 at the Burlington American Cancer Society Relay for Life. HFCU for a Cure fielded a 17-member team for the event held at Burlington High School. Hanscom FCU was also a sponsor for the event, which raised funds to battle cancer and help those living with the disease.

our mission To provide superior financial service responsive to our members’ needs.

1610 Eglin Street Hanscom AFB, MA 01731

800-656-4328 www.hfcu.org Download our free app for iPhone®, AndroidTM and Kindle Fire. 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): 701-461-0621 (call collect)

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

PAPER CHECKS A PAIN?

Use EasyDeposit for Fast Relief! board of directors Paul J. Marotta, Chairman Mark D. Walsh, Vice Chairman John A. Delcore, Secretary Alan M. Hart, Treasurer Teresa S. Conrad Hugh W. McNeil Ray T. Phillips Frederick C. Ryan Lawrence S. Rzepecki

Have you ever wanted to deposit a check the minute you received it? Do you wish there was a fast, easy way to make that deposit? There is! EasyDeposit lets you use your mobile phone to deposit paper checks from anywhere, anytime. After enrolling, just snap a photo of the front and back of your check and send it in through your online account. Checks submitted before 4 p.m. on a business day will be credited the same day. Just like depositing at a branch, there could be a 2 to 5 day hold depending on the type of check. Enrolling in EasyDeposit is simple and free. Depositing online is secure, fast and reliable. Learn more at www.hfcu.org/easy.

statistics Members . .............................................. 68,461 Assets........................................ $1,154,000,000 Loans.......................................... $980,000,000 Deposits....................................$1,016,000,000 Reserves.......................................$115,000,000 July 31, 2016

Federally insured by NCUA. 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. ©2016 Hanscom Federal Credit Union.

No More IOUs for YOU You know the routine. The gang is at lunch, and it’s time to pay the tab. As you tally up what each person owes, one person insists on using her credit card, one only has a $20 bill, and the third left his wallet at his desk, again. Take the hassle out of group payments forever with Popmoney®. Available free with your Hanscom FCU checking account, Popmoney lets you move money from your Hanscom FCU account directly to another person’s account, no matter where they do their banking. You can also set up recurring and future dated payments, request money from individuals or groups, even include an egreeting when you

send money. All you need is a name and an email address or mobile number. Popmoney uses the same payment systems as most online bill payment services do, and recipients are required to verify their identity before they accept a payment. It’s easy to use, and you have a record of when you paid as well as the amount. We make it easy to import contacts from your email service and set up multiple email addresses for each contact. Access Popmoney by clicking the Bill Payment tab in Online Access HD. Learn more at www.hfcu.org/ popmoney.