MoneyWisdom TIPS, NEWS, AND HAPPENINGS FROM HANSCOM FCU | FALL 2018
Hanscom FCU CHOSEN TOP Credit Union in US! page 2
OPERATIONS CENTER OPENS in Littleton, MA page 4
NEW WAY TO CUSHION
Your Retirement Savings page 7
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Summer 2018
Chairman’s Corner
Hanscom FCU Recognized Nationally
I
’m honored to report that we have
as the Best Credit Union in America. The
been recognized nationally with a
article appeared on Kiplinger.com and in
number of awards this year. The list
its August 2018 print issue. You can read
is long and includes recognition for our
the article at www.kiplinger.com/
outstanding products, member service,
links/banks2018.
and community work. In the article, editor Mark Solheim noted
Hanscom Federal Credit Union’s Chairman of the Board Paul Marotta (center) receiving his DCUC Hall of Honor statue from Frank Padak, President & CEO of Scott Credit Union (left) and Anthony Hernandez, President and CEO of the Defense Credit Union Council (right).
Hanscom FCU Chairman Inducted Into Hall of Honor
I want to highlight two of these awards
that they found financial institutions that
that especially reflect our commitment
still aim to do right by those that they
to our members and the credit union
serve. I like that comment because it’s
Hanscom FCU Chairman of the Board Paul Marotta
movement.
especially true for Hanscom FCU. Our
was selected for the Defense Credit Union Council’s
employees and volunteers work tirelessly
(DCUC) Hall of Honor at DCUC’s August conference
to do right by our members.
in Williamsburg, Virginia.
presented with this distinction in August
I know the success of a not-for-profit
Mr. Marotta has served Hanscom FCU and the
at the Defense Credit Union Council’s
financial cooperative is only possible
credit union community with distinction since 1976.
55th annual conference. This accolade is
because of members who recognize the
He was elected Chairman of the Board in 1992.
awarded by the Office of the Secretary of
value and are committed to the mission.
the Air Force and is reserved for financial
For that reason, I want to personally thank
institutions that provide exceptional
you for our 65 years of continued service.
service to the Air Force community.
These recognitions are yours as well, and I
First, is Hanscom FCU’s recognition as Air Force Credit Union of the Year. We were
know that together we will see continued I’m also excited to announce that
success in the years to come.
Kiplinger’s Personal Finance magazine has named Hanscom Federal Credit Union
Paul Marotta
Over the past 42 years of service to the credit union, Mr. Marotta guided Hanscom FCU through critical times, including the buildup of technology, and unprecedented member growth. Under his leadership, Hanscom FCU’s assets have grown past $1.3 billion and 21 branches in two states. He is an avid supporter of Boston Children’s
Photo (l to r): David Sprague, President & CEO, Hanscom FCU; U.S. Air Force Major Chris Spaulding, Hanscom AFB; Paul Marotta, Chairman of the Board, Hanscom FCU; Mr. Fredrick Carr, Associate Deputy Assistant Secretary for Financial Operations, Office of the Assistant Secretary of the Air Force for Financial Management and Comptroller; Eileen Finegan, Project Coordinator, Hanscom FCU; Diana Mautino, Assistant Branch Manager (Barnes), Hanscom FCU.
Hospital and the Massachusetts Coalition for the Homeless, as well as numerous outreach efforts that enrich local and military communities. Under his leadership, Hanscom FCU has been recognized as Air Force Credit Union of the Year three times, as Army Credit Union of the Year, and as the National Association of Federal Credit Unions Credit Union of the Year.
Statistics
Our Mission
Board of Directors
To provide superior financial
Paul J. Marotta, Chairman
Raymond A. Kahre
Members . ...............................................84,169
service responsive to our
Mark D. Walsh, Vice Chairman
Hugh W. McNeil
Assets........................................ $1,312,000,000
members’ needs.
John A. Delcore, Secretary
David M. Pronchick
Deposits.................................... $1,158,600,000
Ray T. Phillips, Treasurer
Lawrence S. Rzepecki
Loans..........................................$1,145,500,000
Teresa S. Conrad
Reserves....................................... $136,100,000 June 30, 2018
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Fall 2018
BeRESOURCEFUL
Make the Most of Your Money at Hanscom FCU
W
e have a full suite of banking
Mortgage Suite – Because every borrower
products and services to help you
is unique, Hanscom FCU offers a variety of
reach your financial goals and
mortgage options. Fixed-rate mortgages
simplify saving. Visit www.hfcu.org or stop
include 10-, 15-, 20-, and 30-year terms. Our
into one of our many branches to learn more
adjustable rate mortgages include 5/1, 7/1,
about the options available to you.
and 10/1 programs. We also offer jumbo mortgages, VA loans, and first-time homebuyer
Find Us Everywhere! – We have
loans. Learn more and apply online at
21 branches located in Massachusetts and
www.hfcu.org/mortgage.
Virginia. For those times when you’re not near one of our branches, you can use any of over
Home Equity 3-in-1 Advantage Plan –
5,000 CO-OP Shared Branch locations as if you
Our flexible 3-in-1 Advantage Plan puts you
were at your local Hanscom FCU branch. These
in control of a home equity plan that can
service centers are located in all 50 states and
change as often as your needs. It offers a
select military installations internationally. Make
credit line, fixed rate advances, and a credit
deposits, withdrawals, and loan payments
card – all in one plan. Details are at
using your member number. Find all
www.hfcu.org/equity.
Hanscom FCU and Shared Branch locations at www.hfcu.org/locations.
CU Thrive Account – Our no-fee CU Thrive account is designed to encourage
Over 100,000 ATMs Nationwide – Our
regular savings. Save as little as $5 or as much
network of surcharge-free ATMs includes over
as $500 per month, which automatically
100,000 nationwide locations. Wherever you
transfers from your Hanscom FCU checking
are, log on to www.hfcu.org/locations to
account. The best part? The attractive rate
find your closest surcharge-free ATM.
you earn on your savings. Learn more at www.hfcu.org/thrive.
Free Checking Accounts – All of our checking accounts include a free ATM & Check
120% Auto Loan Financing – Loans
Card. In addition to being free, our Kasasa
for qualified borrowers are available for
accounts pay monthly rewards. You choose
up to 120% of the purchase price for new
how you get rewarded: high rates or cash
and used vehicles. This helps to cover the
back. Plus, you can enjoy convenience with
cost of taxes, fees, and warranties associated
Educational Seminars
our easy-to-use app and mobile check deposit.
with the purchase of a car. You can apply,
Online Services
Learn more about our free checking accounts
sign, and get your money online. Visit
Term Certificate Specials
at www.hfcu.org/checking.
www.hfcu.org/carloan.
High Yield Savings
Ask About These Programs, Too!
EasyDeposit Get paid up to two days early! – Set
Better Than a Lease Loan – This is a flexible
100% Mortgage Program
up direct deposit with us and get an early
alternative to traditional vehicle loans. Members
Mastercard Credit Cards
payday. We make your funds available as
have the benefits of leasing without the hassle
Business Accounts and Loans
soon as we are notified that a deposit is
and expense – and the vehicle title is in your
Retirement and Investment Services
coming, and that puts money in your
name, not a dealership’s. Find out how you
Mass Save® HEAT Loans
account quickly. Learn more about Payday
can get the low payments with our lease-like
Hanscom Insurance Agency
Perqs at www.hfcu.org/payday.
program for a new/used car, truck, or SUV by
Private Students Loans
logging on to www.hfcu.org/lease. 3
New Operations Center
Goes Green for Growth
P
ulling coolers filled with prepackaged
In 2016, the credit union purchased the
NES Group of Mansfield, MA, which has
organic meals and salads, Liz Borden
67,000-sq.-ft. building at 25 Porter Road with
successfully completed other building
arrives at Hanscom FCU’s Littleton
plans to accommodate employee growth
projects for Hanscom FCU, oversaw the major
Operation Center each Wednesday morning.
over the next eight years. After a thoughtful
renovations required to bring an office building
A welcome visitor to the credit union, Liz attracts
renovation designed with environmental
built in the 1980s into the 21st century. Tom
a line of credit union employees in the lunch
sustainability and employee comfort in mind,
Chiudina at DRL Architects, the in-house
room, each looking to purchase fresh foods
Hanscom FCU opened the center earlier this
architectural division of NES, designed an
from 9 Miles East Farm. The kitchen island fills
year. The Littleton location is ideal, just a
energy-efficient workspace that’s predominantly
with a midsummer’s bounty: glossy heirloom
stone’s throw from Rt. 2 and the Interstate
illuminated by natural light. On top of this,
eggplant, yellow squash, aromatic basil, sun-
495 exchange, making it a convenient
up-to-the-minute technology harmonizes
ripened tomatoes, and other vegetables and
commute for employees, the majority of
with the sustainable design Hanscom FCU’s
herbs picked earlier that morning. This “farm-
whom live along the Route 3/Route 2/
management and board of directors desired.
to-office” concept is one of many ways that
Interstate 495 corridor.
Hanscom FCU ensures employees working out of its new operations center feel at home.
Room to Grow
Sandy Imbrogna, a training manager at Hanscom FCU, appreciates the investment
The operations center is a necessary expansion
made in technology. “Now we have the
to Hanscom FCU’s headquarters on Hanscom
space and tools in the training room to train
Air Force Base. Administration, marketing,
a multitude of employees at once,” she said.
and several other departments remain at
“We have the technology we need to share
the main office on the Air Force Base, while
information with our employees and expand
125 employees in the credit union’s
their knowledge, all in a beautiful space.”
operations, call center, information systems, lending, accounting, member relations, and
Emphasizing the Environment
human resources departments now report
Hanscom FCU’s environmentally friendly
to Littleton. In addition, the Littleton location
choices include LED lighting fixtures
now serves members at the brand-new branch in the building’s lobby.
throughout the building, a solar farm on the roof to offset energy costs, and an energyefficient heating system. Offices and open
4
Fall 2018
Hanscom FCU's Sara Klingener selects fresh veggies for her family from Liz Borden of 9 Miles East Farm.
BeGREEN spaces are wired with vacancy sensors to
As for the rest of the building, Becker said,
a loan officer in the Member Relations
conserve energy and reduce energy costs.
“Our employees are excited about the
department who’s a regular customer. She
There’s a glass operable wall that closes
expansion. They’ve got a space that’s airy and
gestured to the two salads she just purchased.
the branch, but leaves the lobby open for
bright, filled with natural light.”
“No cooking tonight. This will be dinner for me
members who want to use the ATM after-
and my husband.”
hours, as well as an acoustic wall in the
“It was a challenging building,” admitted
large second-floor training room. The credit
Chiudina. “The center of it is far from the
It’s not just employees who are happy with
union chose “green” products for flooring,
outside walls, so we designed it so as much
the new operations center. Members are
plastering, and painting, which are kinder
natural light would filter through.” LED cove
happy with the public spaces, too. Virginia
to the environment. In choosing a vendor to
lighting gives the building’s interior a feel
Clarke, the Littleton branch manager, spent
supply office furniture, seating, and cubicles,
of natural, diffused light. A sound-masking
her first few weeks on the job reaching out
a local fabricator, AIS Systems in Leominster,
system in the ceilings also lends to the feeling
to credit union members who live in the area
which manufactures office furniture and
of peace and calm in every department.
to let them know they can now handle their financial affairs locally.
cubicles with high recycled content, appealed to the board’s desire for sustainability.
One employee who appreciates the soundmasking system is member service liaison
“My folks, when they realized we’re here, were
“Hanscom FCU went above and beyond code
Kathy Farrell, who is often the first person
overjoyed,” she said. “They were happy they
standards,” said Chiudina. “It was refreshing to
people see when they enter the building.
don’t have to drive to Bedford or Devens. They find the space very welcoming.”
work with a client like that.” “There are so many people here, but people
Shiny Happy Employees
respect the space. I’m a loud person, but it
As David Sprague, Hanscom FCU’s president
Another important feature for Chiudina’s
makes me want to be quieter,” she said jokingly.
and CEO points out, “An expansion brings
team was designing a building that makes
more members to us, and makes us a stronger
employees comfortable at work, so they
Local and Green
outfitted workspaces with ergonomic sit-stand
Soon after the operations center opened,
desks, and designed collaborative spaces with
9 Miles East Farm was invited for an employee
comfortable seating for impromptu meetings.
taste-testing of their prepackaged farm-
Other amenities include a fitness center with
to-table meals. Today the farm, which touts
Are you ready to
male and female shower complexes, a spacious
itself as “Local Food for Busy People,” makes
start your credit union
lunch room stocked with free coffee and soda,
weekly deliveries of their farm-fresh Go
career? We list our
the reading room where employees can do
Boxes for employees to purchase from
job openings at
quiet work, and a mother’s room, complete
the lunchroom, which also includes
www.hfcu.org/careers.
with a small refrigerator for breast-feeding
a Lean Box kiosk where employees
Check back often
moms who pump.
can buy microwavable healthy
community. That we’ve also been able to build in a sustainable way is an asset, too.”
for new listings!
dishes and snacks at cost; The fitness center was an important addition
the credit union subsidizes
for Tom Becker, Hanscom FCU’s chief lending
the balance.
officer. When operations employees were working on Hanscom Air Force Base, they
“I don’t always sell out,
had free access to the excellent military
but I sell plenty,” said
fitness center, so it was important to him
Burton while taking
that employees moving over to Littleton
a mobile credit card
could continue working out to stay fit. His
payment from an
determination to see the fitness center through
employee.
to completion paid off. “We have employees working out before work, during lunch, after work – even on weekends,” he said.
“This is an absolute benefit,” said Sara Klingener,
A full-service Hanscom FCU branch and ATM are located in the lobby of 25 Porter Road in Littleton. 5
BeCOMFORTABLE
Use Your Home’s Equity to Cushion Your Retirement
I
f you’re looking for a way to fill in gaps in your retirement income, the solution may be under your own roof. Hanscom Federal Credit Union is now offering FHA-insured Home Equity Conversion
Mortgages (HECMs) to members age 62 and older. If you qualify, you can access a portion of your home equity as income tax-free* cash.
What’s a HECM? This reverse mortgage loan is an attractive alternative to a traditional Home Equity Line of Credit, or HELOC, and has several distinct advantages for the homeowner who is nearing or at retirement age. As with a HELOC, a HECM lets you retain ownership of your home. But unlike a HELOC, a HECM requires no monthly principal and interest payments, and there’s no pre-defined loan maturity date you have to worry about. It’s a home-secured debt that can be repaid when the last borrower (or protected non-borrowing spouse) sells the home, moves out, or passes away. You can pay down the loan at any time or defer repayment without penalty. You can take as much time as you want to access the loan. Your line of credit with a HECM stays open and available for whenever you need it. Funds may be taken via a line of credit, a monthly tenure or payment, a lump sum, or a combination. Any unused portion of your credit line grows in size each month, creating even more available funds. Perhaps one of the most attractive features of a HECM is that you will never owe more than the home’s value at the time the loan must be repaid. Your heirs will not be left with a loan deficiency they have to worry about paying from your estate, leaving you with peace of mind. There are other eligibility requirements for a HECM besides being
Be INFORMED
age 62 or older. The home must be your primary residence and owned outright or be paid down by a considerable amount. Closing costs can
If you’re interested in learning more about how our new
be rolled into the loan and, unlike many other lenders, Hanscom FCU
HECM product can become a strategic part of your future
can offer reduced closing costs as low as $999.
financial plan, log on to www.hfcu.org/reverse-mortgage today. You will still be responsible for property taxes, homeowners insurance, and property maintenance, just as you would with any other home secured loan. Your income, assets, monthly living expenses, and credit history will be verified by the credit union, as will timely payment of your real estate taxes, hazard, and flood insurance premiums. 6
Fall 2018
* Not tax advice. Please consult a tax professional.
BeCHARITABLE
Hanscom FCU in the News 1
Hanscom FCU Makes $1,000 Donation to Littleton Community Farm
Hanscom Federal Credit Union presented a $1,000 donation to Littleton Community Farm during the grand opening celebration of its 21st branch in Littleton, MA. Dozens of credit union employees, as well as local dignitaries and residents, attended the grand opening celebration, which was highlighted with good food and conversation. Photo: Shannon McGrath, Littleton Community Farm; Christopher Grallert, President, Littleton
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Community Farm; Ray Kahre, Board Member, Hanscom FCU; Paul Marotta, Chairman of
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the Board, Hanscom FCU; Ray Phillips, Board Member, Hanscom FCU; Keith Bergman, Littleton Town Administrator; and David Sprague, President and CEO, Hanscom FCU.
2
Volunteers Cook for Families at Fisher House Boston Hanscom FCU volunteers prepared a meal for military guests at Fisher House
Boston. The facility is located at the VA Boston Healthcare System, West Roxbury Campus, and provides no-charge accommodation to family members caring for
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hospitalized U.S. veterans. Photo: Volunteer cooks include Hanscom FCU chairman Paul Marotta, social responsibility manager Laura Galeski, board member Ray Kahre, and human resources manager Sheryl Berglund.
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Hanscom FCU Honors Veterans as Heroes Among Us Four active and retired service members were honored by Hanscom FCU as
2018 Heroes Among Us. The annual Heroes program takes place at Lowell Spinners baseball games each season. The honorees share in batting practice, throw out the first pitch, and enjoy a ceremony to honor their service. Photo: Henry Benson, who
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served in World War II, the Korean Conflict, and two tours of Vietnam, warms up his swing before taking the field with the Lowell Spinners.
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Charitable Foundation Donates $10,000 to Run to Home Base
The Hanscom Federal Credit Union Charitable Foundation made a $10,000 donation to sponsor the 2018 Run to Home Base event. The annual 9K run and 5K run/walk at historic Fenway Park raised money for Home Base, which provides clinical care to veterans, service members, and their families. Photo: Hanscom FCU employees Elizabeth Kistoglou and Collin Victorine with Hanscom FCU alum Catherine Russell participate in Run to Home Base.
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Hanscom FCU Raises Over $12,000 for Relay for Life Hanscom FCU participated in the American Cancer Society’s Relay for Life, raising
a grand total of $12,860 for the 2018 event. This is the most ever raised by Hanscom FCU’s “4 A Cure” 17-member team. Throughout the year, the team surpassed its own financial goal of raising $5,000 by hosting fundraisers and collecting pledges from friends, family and co-workers. Photo: Hanscom FCU’s “4 A Cure” team poses at the Burlington, Massachusetts, 2018 Relay for Life event.
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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) 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. ©2018 Hanscom Federal Credit Union.
Federally insured by NCUA.
Hanscom FCU Charitable Foundation
Together, We Are People Helping People
A
s a credit union committed to the communities we serve, Hanscom Federal Credit Union established the Hanscom FCU Charitable Foundation to continue our promise to help others.
The Foundation, a 501(c)(3) organization, distributes 100% of proceeds to charity, with nothing deducted for administrative expenses. With special emphasis on the well-being of children, the homeless, and convalescing veterans and their families, some of the programs we support include: Boston Children’s Hospital The Massachusetts Coalition for the Homeless The Home Base Program Fisher House Boston Crossroads for Kids For a minimal donation of $10 a year, you can make a difference in the lives of others today by becoming a supporting member of the Hanscom FCU Charitable Foundation. Visit www.hfcucharity.org or call 800-626-4328 for information. Donations are tax-deductible as allowed by law.