2024 Fall Possibilities

Fall 2024

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Member Return

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Certificate Accounts

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IRS Reporting Requirements

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Ascend in the Community

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Shop Savvy This Holiday Season

ascend.org

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Credit unions like Ascend are unique in the financial services industry in that we are first and foremost focused on our members’ financial well-being. Simply put, we thrive by helping our members be successful, so we do everything we can to ensure our members have the tools to reach their financial goals.

From the

President & CEO, Matt Jernigan

quick reads holiday closures

All Ascend branches and corporate headquarters in Tullahoma will be closed on Thursday, Nov. 28 for Thanksgiving Day; Wednesday, Dec. 25 for Christmas Day; and Wednesday, Jan. 1 for New Year’s Day. We’ll also close at 1 p.m. on Tuesday, Dec. 24, for Christmas Eve.

shred day notice Shred Day is returning Nov. 2 and 9. Keep an eye on our social media for more information.

work where you bank Ascend has been rated one of the nation’s best credit unions to work for by American Banker magazine for each of the last nine years.

Learn more about Ascend and see a list of current openings at ascend.org/careers.

follow us on social For the latest updates on all things happening at Ascend, please follow us @ascendfcu on Facebook, Instagram, and LinkedIn.

Part of looking out for the financial wellbeing of our members includes providing the communities Ascend serves with resources to learn about relevant financial topics. I’m proud of our team’s efforts in providing free financial education seminars and workshops to our community partners, including local businesses, organizations, and schools.

I encourage all our members to take advantage of the free financial education resources Ascend offers. In addition to our community events, we have a Financial Education Center on our website with different educational tools to teach you about everything from financial basics to retirement investing. We also post Financial Tip Friday blogs to our social media accounts every Friday on various topics.

Part of the reward for our financial education efforts is being able to give Ascend members an annual member return. We’re so happy to be able to share Ascend’s profits for the 20th year in a row.

As always, thank you for being a member of Ascend. It’s hard to believe we’re coming into the home stretch of 2024, but we’re excited about what lies ahead in 2025.

Regards, Matt Jernigan President & CEO

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Ascend Member Return Totals Eclipse $116.5M Since 2005 At Ascend, giving back to our members is a year-round commitment. From offering products that put more money in your pockets to our scholarship program and dividend return, we prioritize the financial well-being of those who bank with us. This year, Ascend is excited to announce we’re returning $3.5 million in dividends to members. But our dedication doesn’t stop there. In 2024, we also introduced new ways to give back, distributing an additional $4 million through innovative products like our Interest Earning and Rewards checking accounts, which help maximize the value you receive monthly. This brings the total returned to members this year to over $7.5 million — keeping more of your money where it belongs: in your wallet.

As a not-for-profit credit union, we are proud to share our profits in many ways, including lower rates on loans and higher rates on deposits. Since 2005, Ascend has returned more than $116.5 million in annual dividends to members, demonstrating our ongoing commitment to share the success of the credit union with those who contribute to it. This year’s $3.5 million member return will be distributed on November 15.

As we look ahead to next year, Ascend remains committed to finding new and impactful ways to give back and help you achieve your financial goals. The more you bank with Ascend — whether by using your Ascend debit card, increasing your deposit balances, or regularly making loan payments — the greater your potential return.

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Tax Preparation Tips As tax season approaches, it’s essential to start preparing early. At Ascend, we want to help our members with effective tax planning strategies, so here are some key tips: Maximize Your Health Savings Account (HSA) If you have an HSA, maximize your contributions to take full advantage of the tax benefits. Contributions are tax-deductible, and the funds grow tax-free. For 2024, the maximum contribution limits are $4,150 for individuals and $8,300 for families, with an additional $1,000 for those over 55.

Maximize your contributions to reduce your taxable income and save for future medical expenses.

Use Your Flexible Spending Account (FSA) Funds FSAs also offer tax advantages, but they have a “use-it-or-lose-it” rule.

Ensure you use the funds within the plan year or risk losing them. Check your plan details for any grace period or carryover options. As the year ends, review your FSA balance and plan your healthcare spending accordingly to maximize your tax savings.

Start Saving for Potential Tax Bills Prepare for potential tax bills by setting aside money now. Significant life changes like a new job or marriage can impact your tax situation. Start saving in a separate account to reduce stress and financial strain when it’s time to file.

Additional Tips Organize Your Documents Early: Gather all necessary tax documents, including W-2s, 1099s, and deductible expense receipts.

Review Your Withholding: Ensure your tax withholding matches your expected tax liability.

Consider Professional Help: Seek help from a tax professional if your tax situation is complex.

At Ascend, we’re committed to helping you become a more effective financial steward, so we hope you’ll be able to follow these tips to maximize your tax savings and approach tax season with confidence.

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Certificate Accounts A low-risk way to reach your savings goals.

With today’s economic climate and an overall higher cost of living, certificate accounts are a great way to earn money while saving for your short-term and long-term financial goals.

High Reward, Low-Risk Our certificate accounts will earn you a higher interest rate than most savings accounts and diversify your financial portfolio. Since certificate rates are locked in and unaffected by the stock market, they are a safe way to invest your hard-earned money.

Wide Variety of Terms & Great Rates Terms for our certificates range from 3 to 60 months, so you can choose the accounts that best suit your plans.

You can receive up to 5.12% Annual Percentage Yield (APY) on our 3-month certificate*.

Member’s Advantage Ascend’s 15 and 54-month Member’s Advantage certificate accounts are unlike other certificates. During the term, members can make one additional deposit of at least $1,000.

Additionally, if dividend rates increase during the term, the member can choose a one-time rate increase.

Wide Variety of Opening Balances Whether you’re looking to invest $500 or much more, we have certificate accounts to fit your goals.

Higher Rates Based on Balance If you have $100,000 or more to invest, even better rates may be available to you.

Visit ascend.org/certificates to see the full list of current rates. * Minimum $1,000 deposit required. Offer effective as of September 6, 2024. Rates are subject to change at any time. Fees can reduce your earnings. There is a penalty for early withdrawal. For all current rates, please visit ascend.org/rates.

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Small Business Spotlight Arty All The Time Offers Unique Community Service

Shelbyville’s town square has a collection of small businesses that make the area unique, all providing the community with an assortment of goods and services you won’t find anywhere else. One of those small businesses provides something truly special: a place to get arty.

Arty All The Time opened on the main floor of the old First National Bank building on Depot Street in 2019. Owner Angie Jackson and her husband, Daniel, purchased the 1920s-era building in December of 2018 and renovated the upstairs into a living space before making the art studio downstairs.

Jackson, who recently retired from a 20-plus-year career as an elementary and high school art teacher, wanted to give the community something it was lacking: a space to learn about different art forms. She offers art classes, paint parties, and camps to teach students of any age about painting, weaving, needle felting, and more. She’s also been busy recently renovating the space to add a coffee and tea bar, as well as art kits and other gift items for sale.

On a town square known for its unique small businesses, Arty All The Time truly stands out as a place for the community to have fun and unwind. Read more in our full blog post at ascend.org.

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IRS Reporting Requirements In early 2025, Ascend will be sending the following information to members as required by the Internal Revenue Service (IRS) for tax year 2024. Please check the forms you receive carefully and notify the credit union if you have any questions.

Fair Market Value of Your IRA

IRS Form 1098

Your Individual Retirement Account

If you paid mortgage interest of $600 or

(IRA) with us includes only deposit

more on any one mortgage during the

investments. The Fair Market Value,

2024 calendar year, Ascend will send

which is your Dec. 31, 2024 IRA

you a report of this interest on IRS

balance, is found on the year-end

Form 1098. Each mortgage is reported

statement and is also reported to you

on a separate form.

on IRS Form 5498 FMV. If you must take a minimum distribution, this

Form 1099-INT

IRS Form 5498 FMV will include the

This form reports interest income

amount of such distribution, along with

of $10 or more, early withdrawal

the deadline date for the withdrawal.

penalties, any amount withheld for federal income taxes under the

IRS Form 1099-R, 1099-SA, and 1099-Q

backup withholding rules, and interest

If you received any distribution from

income from U.S. Savings Bonds.

your IRA, Health Savings Account

Interest from an IRA is not included

(HSA) or Education Savings Account

on Form 1099-INT.

(ESA) during 2024, Ascend will prepare and send you a report of this

Save Your December Statement

distribution on:

for Tax Purposes Included in your December statement

• IRS Form 1099-R for your IRA

is information you will need to file

• IRS Form 1099-SA for your HSA

your 2024 tax return. You should

• IRS Form 1099-Q for your ESA

keep this statement for tax purposes.

Remember, according to Internal

You may need to attach a copy of this

Revenue Service (IRS) regulations, if

form to your 2024 income tax return.

dividends (interest) earned are not reported on your tax return, a penalty may be incurred.

Reminder: Have you updated your beneficiaries lately? Life changes like marriage, divorce, births, or deaths might mean it’s time for you to review your beneficiary information for your retirement accounts and IRAs. Reminder, IRA beneficiaries are separate from those on your other Ascend accounts. Take a moment to check and update your details today.

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Earn

or

with Ascend.

Whether you want to earn interest enjoy rewards, we have the right checking account for you.

• With Interest Earning, you earn 3.56% APY1 on balances up to $15,000 • Or, with Rewards, get cash back on your qualifying2 debit card swipes • We offer multiple ways to easily waive your monthly fee3 • Interest Earning and Rewards Checking accounts include access to the following complimentary benefits. Registration and activation will apply.

Telehealth Services4

Mobile Phone Protection5

Gasoline Fuel Savings

Travel & Leisure Discounts

24/7 access to U.S.based board certified doctors all with zero copays.

Helps with replacement or repair costs with only a $50 deductible.

Enjoy savings of 5¢ per gallon on every fill-up at participating Shell stations.

Get discounts on movie tickets, theme parks, travel, and much more.

Annual Percentage Yield (APY) Payment transactions, money transfers to non-financial institutions (such as person-to-person), tax payments, and fraudulent purchase transactions excluded.

3 $5 per month is waived if you have $1,000 in direct deposit per month, OR $5,000 combined average daily balance, OR 10 qualifying2 debit card swipes of $5 or more.

4 Available for the account holder and their spouse/domestic partner and up to six (6) dependent children age 2 and older. This is not insurance.

5 The descriptions herein are summaries only and do not include all terms, conditions and exclusions of the Benefits described. Please refer to the actual Guide to Benefit for complete details of coverage and exclusions.

Coverage is provided through the company named in the Guide to Benefit. Guide to Benefit can be found online at ascend.eclubonline.net. 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.

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Ascend in the Community We’re Making an Impact in the Most Important Place We Can – Home At Ascend, we strive to always be there for our members and the communities we call home. We remained true to our commitment this summer by supporting various causes and organizations throughout Middle Tennessee.

Christmas in July Ascend CEO Matt Jernigan was onsite with 105.9 The Rock and 107.5 The River to participate in the inaugural Christmas in July broadcast. We were proud to be the title sponsor of the toy drive, which supported Monroe Carell Jr. Children's Hospital at Vanderbilt.

Financial Education Our Ascend team is committed to promoting financial well-being within the communities we serve. This summer, Strategic Partnership Specialist Tosha Price was a guest speaker at MTSU’s Upward Bound Program, a college preparation program for high school students, and Business Development Project Specialist Roberto Ramirez gave a presentation for the State of Tennessee Division of Rehabilitation Services. Both presentations focused on banking basics.

Stuff the Bus Campaign Ascend is a proud supporter of United Way of Greater Nashville's Stuff the Bus campaign. Our branches served as donation stations this summer for school supplies that directly benefit underserved students in our community.

Volunteer Reading Event Murfreesboro – Victory Station Branch Manager Whitney Smith participated in the Murfreesboro Young Professionals' volunteer reading event for the Rutherford County Boys and Girls Club this summer.

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Community Partner Spotlight Operation Stand Down Tennessee

One of Ascend’s key areas of focus in our community involvement efforts is to support our veterans, and we’re proud of our ongoing partnership with Operation Stand Down Tennessee.

Operation Stand Down is the only comprehensive veteran service agency in Middle Tennessee, and its mission is to connect veterans and their families with career, community, and crisis resources. The organization provides various programs to engage, equip, and empower veterans, as well as important services such as legal aid, a VA shuttle, food stamp applications, clothing vouchers, service referrals, family support, networking opportunities, and basic needs items.

Veteran Service Centers are located in Nashville, Clarksville, and Columbia, where veterans and their families can access the organization’s programs, services, and resources. To learn more about Operation Stand Down Tennessee and how to support the organization, visit osdtn.org.

Welcome New Select Employee Groups TheHeARTStudio – Manchester Avanti Chapter of TN and AL – Lewisburg Whites LLC – Smithville Buchanan Estates Subdivision Section VII – Christiana Trevors Toes and Tushies Inc. – Murfreesboro Maury Co. Chamber & Economic Alliance – Columbia Email bizdev@ascend.org to learn how employees and members of your organization can partner with Ascend Federal Credit Union.

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Shop Savvy This Holiday Season The holiday season is fast approaching, so Ascend is here to provide you with a few ways to celebrate the holidays without busting your budget. Here are four holiday shopping tips to ensure you can safeguard more of your hardearned money while still expressing your gratitude to those who make your life brighter.

Craft a Thoughtful Shopping List Start your holiday shopping by making a list of the people you want to show love and appreciation to. Split the list into categories like family, friends, colleagues, and helpful neighbors. This will guide your spending and help avoid impulsive purchases.

Stick to a Budget Setting a holiday spending plan can feel daunting but remember that everyone is feeling the pinch of inflation. Your loved ones will understand if you're being more mindful of your spending.

Avoid using credit cards irresponsibly and accumulating debt. Stick to your budget to stay financially stress-free.

Give Meaningful, Low-Cost Gifts Remember, some of the best gifts are priceless or inexpensive. Consider thoughtful gestures like baked goods, framed photographs, or offering your time to help someone out. While some may hesitate at the idea of "used" gifts, quality pre-owned items can be just as appreciated as new ones. Look for sports equipment, books, vintage clothing, furniture, or kitchenware in good condition.

Follow the "Four Gift" Rule To make gift-giving more meaningful, try the "four gift" rule. Each person receives something they want, need, wear, and read. This approach helps to simplify the gift-buying process and provides practical items that enrich the recipients' lives.

This holiday season let's focus on the joy of giving from the heart to cherish the time we spend with loved ones, rather than solely on the price tags.

Happy holiday shopping!

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Apply for an Ascend Scholarship Over the past 22 years, Ascend has awarded $281,000 in scholarships to our members.

Ascend's 2025 scholarship application will open in December. Past Ascend scholarship winners may reapply if they meet the program requirements.

If you are interested in applying for an Ascend scholarship, be sure to follow us on social media @ascendfcu and watch your email for additional information.

Visit ascend.org/scholarships for eligibility requirements and to apply.

We’ve Moved!

Visit our new McMinnville branch location.

We’re excited to announce our new McMinnville location is now open at 3080 Nashville Highway! Hours of operation at the new location are Monday – Friday from 9 a.m. to 5 p.m. and Saturday from 9 a.m. to 1 p.m. Teller services are available at our new drive-up from 7 a.m. to 7 p.m. Monday – Saturday.

Additionally, we offer a 24/7 drive-up ATM for added convenience. We can’t wait to serve you, so drop by and say hello.

13 A Message from Ascend Retirement and Investment Services*

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Planning Ahead Pays Off

Both literally and figuratively, planning ahead can pay off. It’s important to think about your future now so you can enjoy it to the fullest down the road. A financial professional can evaluate your current financial situation and help you make the most out of your financial plan. Call an advisor to learn more or to schedule a consultation.

Randall W. Harris, ChFC® CFP®

VP, Wealth Management

931-454-1307

Lee Baker

Financial Advisor

931-454-2925

Stephen Yun

Financial Advisor

931-454-2915

Josh Wells, CRPC®

Associate Financial Advisor

931-461-8779

Kristy Harris, CRPC®

Associate Financial Advisor

931-461-8749

*Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Ascend Federal Credit Union and Ascend Retirement and Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Ascend Retirement and Investment Services, and may also be employees of Ascend Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Ascend Federal Credit Union or Ascend Retirement and Investment Services. Securities and insurance offered through LPL or its affiliates are:

Not Insured by NCUA or Any Other Government Agency

Not Credit Union Guaranteed

Not Credit Union Deposits or Obligations

May Lose Value

Ascend Federal Credit Union ("Financial Institution") provides referrals to financial professionals of LPL Financial LLC ("LPL") pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for advisory services. Please visit www.lpl.com/disclosures/is-lpl-relationship-disclosure.html for more detailed information.

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Try This Holiday Recipe Cranberry Jalapeño Cream Cheese Dip Submitted by Ascend’s Gabby Jackson, Graphic Designer Ingredients: • 12 oz fresh cranberries • 1/4 cup green onion • 1-2 fresh jalapeños • 2 tbsp cilantro (optional) • 3/4-1 cup sugar (according to taste) • 1 tbsp lemon juice • 1/8 tsp salt • 16 oz whipped cream cheese

Instructions: Finely chop the cranberries, jalapeños, and green onion, and add them to a bowl. Add sugar and lemon juice, and let the mixture sit in the fridge overnight.

The next day, spread whipped cream cheese on the bottom of a cake pan.

Strain the juices from the chopped mixture, and evenly disperse the mixture on top of the whipped cream cheese.

Enjoy this delicious dip with Ritz crackers.

Celebrate the Holidays at These Local Events There are local holiday events throughout Middle Tennessee this time of year.

Here are a few of our favorites: Nov. 8 – Jan. 4 •G aylord at Opryland Presents ICE! Featuring Frosty the Snowman Nov. 8 – 9 •F ayetteville’s Host of Christmas Past Festival Nov. 15 – Dec. 31 •T he Dancing Lights of Christmas at the Wilson County Fairgrounds Nov. 16 – Dec. 31 •F rankTown Festival of Lights at the Williamson County AgEXPO Park Nov. 23 – Jan. 5 • Holiday Lights at Cheekwood

Dec. 6 • Franklin Christmas Tree Lighting on the Square • Rutherford County Christmas Tree Lighting at the county courthouse • 68th Annual Tullahoma Christmas Parade Dec. 7 • Nashville Tree Lighting Ceremony at Public Square Park • Columbia Christmas Parade & Tree Lighting Dec. 14 – 15 • Franklin’s Dickens of a Christmas Festival

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Avoid Common Holiday Scams

The holidays are supposed to be a joyous time spent thinking about the things we most cherish. That’s why it’s important to be extra wary of scams fraudsters commonly utilize so you can keep yourself and your finances safe.

According to the FBI, the Internet Crime Complaint Center reported nonpayment and non-delivery scams cost Americans more than $281 million in 2022. They also received most of these types of complaint calls in the early part of 2023, meaning the scams likely occurred over the holiday season.

Non-payment and non-delivery scams – simply, where a fraudster either doesn’t pay for a shipped item or doesn’t ship a paid-for item – are the most common types of holiday scams, along with credit card fraud. Other scams to look out for include auction fraud,

where a product you purchase was misrepresented on an auction site, and gift card fraud, where a seller asks you to pay with a pre-paid card.

Protecting yourself from holiday shopping scams is easier than you think. Start by avoiding suspicious links and attachments in emails, texts, and on websites. Also, take steps to verify who you're buying from or selling to by checking reviews and feedback ratings.

After completing a transaction, always obtain tracking numbers to monitor your items.

Above all else, remember that if you see an online offer that seems too good to be true, it probably is, even during the holidays. Don’t let the allure of massive deals get in the way of shopping smart.

If you believe fraud has affected your Ascend account, contact us immediately at 800-342-3086.

We do business in accordance with the Federal Fair Housing Laws and the Equal Credit Opportunity Act. All loans subject to credit approval.

Ascend Federal Credit Union and the Flying-A logo are registered trademarks of Ascend Federal Credit Union. © 2024 Ascend Federal Credit Union. Federally insured by NCUA. All Rights Reserved.

@ascendfcu

For more information about all of our locations, visit ascend.org/locations.

STAR: 800-342-8663

800-342-3086

memberservice@ascend.org

ascend.org

The best place to bank isn’t a bank.

P.O. Box 1210 Tullahoma, TN 37388