Money Wisdom Summer 2018

MoneyWisdom Welcome KASASA! New checking options

TIPS, NEWS, AND HAPPENINGS FROM HANSCOM FCU | SUMMER 2018

NOW AVAILABLE page 4

0% DOWN MORTGAGES

For first-time homebuyers page 3

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Summer 2018

Happy Anniversary, Hanscom Federal Credit Union!

Boston Marathon Team Raises $44,000 for Boston Children's Hospital Despite some of the worst weather in Boston Marathon history, our Team

T

his year Hanscom Federal Credit Union celebrates 65 years of service to its members! Hanscom FCU was chartered in

1953 when eight members were granted authority to form a credit union. The organization was opened on Hanscom AFB two years later. Today, we serve over 82,000 members through our 21 branches and online banking website.

“For well over half a century, Hanscom Federal Credit Union has been a trusted source of financial innovation, information, and convenience for its members,” said Hanscom FCU Chairman Paul Marotta. “We want our members to know how much we appreciate their loyalty through the years, which has helped us grow into what we

Hanscom FCU runners pushed through the difficult conditions and finished the race, raising approximately $44,000 along the way. Your generous contributions will be given to Credit Union Kids at Heart, which last year donated $180,000 to Boston Children’s Hospital. Thank you for

Team Hanscom FCU – Elizabeth, And

y, and Ray

contributing to this effort!

This was a special year for master runner, Ray Phillips, a Hanscom FCU board member – he moved up to the 70+ age division! He finished Boston with a time of 5:37:50.

The assistant branch manager of our Billerica branch, Elizabeth Kistoglou, was running her first-ever marathon this year. With her disciplined training and positive attitude, Elizabeth pushed through to the end and finished the race in 6:45:30.

are today: a vital member of the local business

Andy Martin, Jr., who is Ray Phillips’ longtime Boston Children’s Hospital Patient

community and a successful not-for-profit

Partner, competed in the wheelchair division of this year’s marathon. This year’s race

cooperative organization in the financial world.”

was a tough one for Andy. At the 12-mile mark, with icy rain lashing his face, he said,

Learn more about our growing organization at www.hfcu.org. Happy anniversary, Hanscom FCU!

“I can’t give up … Ray and the rest of my team will be waiting for me at the finish line.”

He made it there in 6:09:20.

One hundred percent of the money raised this year will be donated to several pediatric brain research projects at Boston Children’s Hospital, including the search for treatments, therapies, and cures for Moyamoya Disease, Sturge-Weber Syndrome, Cerebral Palsy, and pediatric brain tumors.

Exceeding member expectations, each and every day.

It’s not too late to be part of the team. When you join us for this important fundraising effort, 100% of your donation is contributed. No portion is deducted for administrative expenses. Learn more at www.hfcu.org/marathon.

Statistics

Our Mission

Board of Directors

To provide superior financial

Paul J. Marotta, Chairman

Raymond A. Kahre

Members . .............................................. 82,723

service responsive to our

Mark D. Walsh, Vice Chairman

Hugh W. McNeil

Assets........................................ $1,294,500,000

members’ needs.

John A. Delcore, Secretary

David M. Pronchick

Deposits.................................... $1,143,900,000

Ray T. Phillips, Treasurer

Lawrence S. Rzepecki

Loans.......................................... $1,132,900,000

Teresa S. Conrad

Reserves.......................................$133,600,000 March 31, 2018

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Summer 2018

BeMOVED

0% Down Mortgage Now Available for First-Time Homebuyers

G

ood news, renters and first-time homebuyers! Hanscom Federal

OK, you ask. What’s the catch? To qualify for this time-limited mortgage

Credit Union now offers a mortgage that lets you buy a home

product, you’ll need to be a first-time homebuyer with excellent

with no money down.

credit (minimum credit score of 720) and a debt-to-income ratio of 43%, no exceptions. You can be a first-time homebuyer if you have

“This is the first time we’re offering 100% financing,” said Susan

had no ownership in real estate during the three-year period before

Dunbar, Hanscom FCU’s Vice President of Mortgages. “A program with

the purchase date of the property. Because this is a no-money-down

this kind of offer has been hard to find since 2008.”

mortgage product, it will require private mortgage insurance (PMI), which is an added expense you’ll need to pay monthly.

You read that right. You can cure your rental headaches without having to bring 20% or 10% or even 3% of the purchase price to the table.

This product is open to Hanscom FCU members only, so you must open

We’re offering a 30-year 7/1 Adjustable Rate Mortgage (ARM) with

an account with us before closing. You’ll need to have two months

Zero % Down Payment!

of mortgage payments in reserve at closing; that’s principal, interest, taxes, and insurance. And lastly, if you’re thinking of asking Mom or

In layman’s terms, this means for the first seven years of your loan, you’ll

Dad to pay those reserves, you’ll have to use your own saved funds to

have an initial fixed interest rate. After seven years, it will adjust no more

cover closing costs and the two months’ reserves. However, if you use

than 1% each year with a cap of 5% over the life of the loan.

our HomeAdvantage program (www.hfcu.org/homeadvantage),

“The appeal of a 7/1 ARM,” said Dunbar, “is that most first-time homeowners will either refinance or move within the first seven years, so chances are good they won’t need to worry about the rate change.”

or can get the sellers to pay some of the closing costs (up to 3% of the loan amount), you can further reduce the amount you’ll have to bring to closing.

Our mortgage product will let you purchase your primary residence – a single-family home or condo – with a loan amount of up to $453,100. You can purchase your home in any of the six



New England states, or Virginia, Maryland, or Washington, DC.

Be READY

Are you ready to stop renting and start looking for a home you can call your own? Contact Hanscom FCU’s mortgage department today and learn more about this exciting limited-time product. Visit www.hfcu.org/mortgage.

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Free Checking with Rewards?

We’re always looking for new opportunities

activities, such as using debit cards for

to delight our members, so that’s why we’re

purchases or getting online statements, we

offering Kasasa checking accounts. They’re

get a financial benefit that we can share with

free and offer outstanding rewards like high

our members in the form of rewards – like

dividends, cash back on debit card purchases,

higher rates or even cash back!

even rebates on ATM fees.

We offer you a choice of two Kasasa checking Kasasa accounts benefit both you and the

accounts, Free Kasasa Cash Back® and Free

credit union. When you perform qualifying

Kasasa Cash®:

Get rewarded for doing the things you probably do anyway.

Free Kasasa Cash® Checking

Why Online Banking Is Safer

Free Rewards

Earn 2.50% APY1 on balances up to $15,000.

Contrary to what you might believe, online banking is actually safer than doing

Easy to Qualify

things the old-fashioned way. Here’s why:

transactions and activities in your Kasasa Cash Back account during each Monthly

Eliminating paper statements reduces

Qualification Cycle:

the chance of someone stealing your

• Have at least 12 debit card or credit card

identity from a piece of mail.

purchases post and settle

Using online bill pay reduces the

• At least 1 ACH Credit/Direct deposit

number of checks you write, so you may

• Be enrolled in and agree to receive

be less likely to have one lost or stolen in

online statements

the mail stream.

ATM Access

surcharge free ATMs.

multifactor authentication and a secure website.

No Penalties

Be STREAMLINED

Payday Perqs

Kasasa Cash: Earn 2.50% APY on balances up to $15,000.00 in each Monthly Qualification Cycle that your account qualifies. The portion of your balance above that cap will earn an interest rate of 0.30% resulting in a range from 0.30% to 2.50% APY, depending on the account’s balance, each cycle that your account qualifies. Earn 0.01% APY in cycles that your account does not qualify.

“Monthly Qualification Cycle” means a period beginning one (1) day prior to the first day of the current statement cycle through one (1) day prior to the close of the current statement cycle. “Statement Cycle” means the period of time for which Hanscom FCU provides a summary of the financial activities and transactions that post and settle to the accountholder’s account.

Learn more about Hanscom Federal Credit Union Online

visiting a branch, or logging onto www.hfcu.org/access.

Summer 2018

Get paid up to two days early with

1

Access by calling 800-656-4328,

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Refunds on ATM withdrawals, nationwide (up to $20 monthly) 3 Plus, over 100,000

Your accounts are protected with



To earn your rewards, just do the following

Rates and rewards are subject to change and may change after account is opened. Fees may reduce earnings.

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Kasasa Cash Back: Qualifying accounts earn 2.00% cash back on all debit card purchases that post and settle during each Monthly Qualification Cycle that your account qualifies, up to a total of $7.00 cash back per Monthly Qualification Cycle. “Monthly

BeWISE

Say Hello to Kasasa!

Free Kasasa Cash

Free Kasasa Cash Back

With Kasasa Cash, you’ll earn 2.50% APY* on

With the Kasasa Cash Back checking account,

checking balances up to $15,000 when you

you’ll earn 2.00% cash back on your debit

perform qualifying activities. Plus, we’ll refund

card purchases, up to $7 per month and

ATM withdrawal fees you incur nationwide,

up to $84 cash back per year when you

up to $20 monthly. Even if you didn’t qualify

perform qualifying activities. And with Kasasa

for rewards, your account is still free and all

Cash, your rewards include refunds of ATM

balances earn our base rate of 0.01% APY.

withdrawal fees nationwide, up to $20

Free Kasasa Cash Back® Checking

Kasasa® Saver

No minimum balance. No monthly maintenance fees.

Get 2% cash back on debit card purchases

Build your savings automatically with Kasasa

up to $7 per

Saver – a free account that links to your

qualification cycle.2

Kasasa Cash or Cash Back Checking to make saving simple.

To earn your rewards, just do the following

Simply meet Kasasa

transactions and activities in your Kasasa

Cash or Kasasa Cash

Cash Back account during each Monthly

Back qualifications

Qualification Cycle: • Have at least 12 debit card or credit card purchases post and settle • At least 1 ACH Credit/Direct deposit • Be enrolled in and agree to receive online statements

monthly. Should you not qualify for rewards, your account is still free.

Qualifying for Rewards Is Easy Getting great rewards is as simple as doing things each month that you probably already do today. They are: • Make at least 12 debit card or credit card purchases that post and settle to your account • Have at least one direct deposit (ACH) post and settle to your account • Be enrolled in and agree to receive online statements That’s it! And even if you don’t meet the qualifications that month, you won’t be penalized with service charges or other fees.

You can get back to earning your rewards the very next cycle you qualify.

If your current checking account isn’t giving you the rewards you deserve, stop by one of our branches or visit us online at www.hfcu.org and open your Free Kasasa checking account.

Don’t let great rewards pass you by. * APY = Annual Percentage Yield.

APYs accurate as of 06/07/2018.

Refunds on ATM withdrawals, nationwide (up to $20 monthly) 3 Plus, over 100,000 surcharge free ATMs.

Still Free. Try again next cycle. direct deposit, plus you will be one step closer to meeting the qualifications.

Qualification Cycle” means a period beginning one (1) day prior to the first day of the current statement cycle through one (1) day prior to the close of the current statement cycle. “Statement Cycle” means the period of time for which Hanscom FCU provides a summary of the financial activities and transactions that post and settle to the accountholder’s account. Rewards are subject to change and may change after account is opened.

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ationwide ATM fee refunds offered in qualifying cycles. ATM fees will not be refunded in Monthly Qualification Cycles that you do N not meet the qualification requirements. Other financial institutions may impose a surcharge for use of their ATMs.

Please refer to our Fee Schedule for current fees & charges.

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BeEDUCATED

We Have Answers to Your Money Management Questions

W

e created a financial education suite with you in mind. It gives you tools to manage your money

wisely. Find our popular MoneyWisdom blog, downloadable how-to guides, and 24/7 access to financial counselors – all available to you in the privacy of your own home and at no cost.

teach you when to choose credit over debit, how credit is established or ruined, how to use a credit card to increase your credit score and more. It includes a bonus credit card comparison checklist! Download your copy at http://go.hfcu.org/cc.

Download Free How-to Guides

The Hanscom FCU Money Management Planner.

Finally, a step-by-step budgeting tool! This valuable 12-page guide includes worksheets, tips and strategies to help you make a financial plan with the money you have. It’s easy to read and simple to follow. It includes worksheets to help you identify all of your income and expenses, a budget template, and strategies to help you build your savings. Learn more at

We have a library full of free guides to help

http://go.hfcu.org/mmp.

Subscribe to Our MoneyWisdom Blog We have new articles each week that share helpful money management stories, guidance, and news. By subscribing to the MoneyWisdom blog, you will receive a weekly email that features our latest blog posts, so you get the latest news. Sign up on our MoneyWisdom blog at www.hfcu.org/blog.

you make the most of your money. Here are three of our most popular new publications.

Is Investment Property Ownership Right for You? Evaluate the personal and financial considerations of becoming an investment property owner. Learn about the different types of properties available, which is right for you, and what you need to know about financing a property and generating a healthy cash flow. Get your copy at http://go.hfcu.org/property.

The 20-Something’s Guide to Savvy Credit Card Ownership. Feel empowered with the financial advice you need to make smart credit card choices. This guide will 6

Summer 2018

Access Free Financial Counseling We’ve partnered with industry-leading BALANCE to provide you with free access to expertly crafted financial education and resources to help you manage your money. Services include webinars, videos, calculators, and articles. BALANCE can also assist with confidential financial counseling services to help you develop a sensible budget managing spending and debt. Chat with an experienced financial counselor online at http://hfcu.balancepro.org or call 888-456-2227.

BeINVOLVED 3

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 Find the late st Hanscom FC U news at www.hfcu .org/med ia.

Hanscom FCU in the News 1

HFCU Foundation Donates $5,000 to Help New England Veterans

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Hanscom FCU Donates $2,500 toward Memorials for Fallen Airmen

The Hanscom Federal Credit Union Charitable Foundation continued

Hanscom FCU presented a $2,500 check to the 66th Security Forces

its commitment to support of military service members by making

Squadron Defenders Club at Hanscom AFB. The donation will be used

a $5,000 grant to New England Veterans Liberty House (NEVLH).

for memorials honoring SrA Kcey Ruiz and SrA Nathan Sartain, members

A ceremonial check was presented to the organization during the

of the 66th Security Forces Squadron stationed at Hanscom AFB, who

foundation’s quarterly board meeting at Hanscom AFB, MA. Learn more

were killed in a plane crash in Afghanistan in 2015. The memorials

about Hanscom FCU Charitable Foundation at www.hfcucharity.org.

include a bronze statue, an engraved granite plaque, and a sign

Photo: HFCU President/CEO David Sprague; HFCU Charitable Foundation

renaming each of the two gates. Photo: David Sprague, HFCU President/

Chairwoman Teresa Conrad; NEVLH Program Manager Islean Carrillo;

CEO; Chief Master Sgt. Scott P. Pepper; Paul Marotta, HFCU Chairman

HFCU Chairman Paul Marotta; and HFCU board member John Delcore.

of the Board; Staff Sgt. Tyler Kliss; and Tech. Sgt. Matthew Marquart.

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Hanscom FCU Volunteers Cook for Military Families

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Hanscom FCU Sponsors Build-a-Bed Event for Children in Need

Hanscom FCU volunteers prepared a meal for military family guests

Approximately 100 volunteers from the Hanscom Air Force Base

of Fisher House Boston. Fisher House Boston, located at the VA Boston

community helped construct beds for area children in need. Fifty-two

Healthcare System, West Roxbury Campus, provides no-charge

beds were prepared for donation to A Bed for Every Child, an initiative

accommodations to family members caring for hospitalized U.S.

of the Massachusetts Coalition for the Homeless. The Build-a-Bed event

veterans. Hanscom FCU has a branch at the West Roxbury facility and has

was sponsored by Hanscom Federal Credit Union. Volunteers from

supported Fisher House Boston since 2010, when the facility opened.

Hanscom FCU include: Bill Burpeau; Paul Marotta, Chairman of the

Photo: David Sprague, President/CEO, Hanscom FCU; Paul Marotta,

Board; Cynthia Donovan; Mike Rzeszutek; Terri Bellacini; David Sprague,

Chairman of the Board; Sheryl Berglund, Human Resources Manager;

President/CEO; Cara Powers; and Robyn Frost, Executive Director of the

and David Minker, Chief Information Officer.

Massachusetts Coalition for the Homeless.

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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.

Credit Union Membership Pays with Sprint® Hanscom FCU members can tap into the Sprint Unlimited Plan and receive these cash awards!

! e t a D the

Saveer Appreciation mDabyerta7kes pte Memb day, Se i r F n o place

p by any ited to sto v nch in re a You Union bra it d re C l Federa e treats Hanscom 7 for som r e b m te , Sep d let us on Friday top in an S . n o ti bra por t and cele nued sup ti n o c r u u for yo ing, thank yo our grow in n o ti a e ar ticip rative. W for and p ial coope c n a n fi t rofi nd we’re not-for-p mbers, a e m 0 0 ost 83,0 cess is have alm t this suc a th w o you. ! We kn ople like e growing p f o e s au sible bec only pos u!

Thank yo

1 Get

a $100 cash reward for each new line you activate with Sprint.* 2 Current Sprint customers get a $50 cash reward for each new line transferred into Sprint Credit Union Member Cash Rewards.* 3 You’ll get a $50 loyalty cash reward every year for each line.* 4 Plus, credit union members are eligible for 25% off accessories with the Sprint Credit Union Member Cash Rewards program.

Get Started Today!

• Become a Sprint customer and mention you’re a credit union member • Register at LoveMyCreditUnion.org/SprintRewards • Allow up to six to eight weeks to see cash rewards directly deposited into your credit union account * Restrictions apply