Issue No 9 | July 2018
T he Inside Sco o p o n Yo u r Fi n a n ces
Inside this Edition Mid-Year Resolutions
Why Do I Need Life Insurance?
Simplify Your Banking
Pick up or refresh your 2018 resolutions.
Ensure your family will be taken care of.
Keep up with today's busy lifestyle with eDocuments.
Co n te nt s
Eve n t s Ca le n dar
Community Corner
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Congratulations to the 2018 TDECU scholarship winners!
Save the Date TECH Day
Prepare for College
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What you should know before applying for loans.
Social Security 101
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Learn the basics on how Social Security works.
Make the Move with No Money Down
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TDECU Mortgage makes home happen.
Tuesday, July 17, 2018 On site experts available to help you set up online & mobile banking, bill pay, mobile deposit, touch ID and more! Discover more at tdecu.org/tech-day. Available at all TDECU Member Centers.
Holiday Closings Labor Day Monday, September 3, 2018 All Member Centers will be closed in observance of the federal holiday.
Beware of Skimmers Know what to look for and how to protect yourself.
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TDECU in DFW We’re changing locations!
On July 23, TDECU’s Dallas Member Center will be moving to a new location to better serve our Receive a 1% discount on Members! Located at 1920 Northwest Highway, Garland, Texas 75041, our new location will your secured loan rate. feature state-of-the-art self-service technology, drive-up and walk-up ATMs & more!
Have Some FUNds
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Our Members say it best MY WIFE AND I PLANNED TO PURCHASE A MOTOR HOME FOR YEARS. WE WORKED TO ENSURE OUR CREDIT SCORES WERE AS HIGH AS POSSIBLE. TDECU GAVE US A LOW INTEREST RATE AND PROVIDED OVER 100% OF THE VALUE ON OUR PURCHASE, WHICH COVERED OUR TTL TAX AND A $300 INSPECTION FEE. THE QUALIFICATION PROCESS WAS EASY, AND WE RECEIVED SUPERB SERVICE. – David P.
Member since 2011 1
TDECU Connection | July 2018
Co mmu n i t y Co rn e r
TDECU 2018 scholarship winners We are proud to recognize the recipients of TDECU’s Annual Scholarship Program! Students are selected based on outstanding academic performance and leadership skills. These scholarships help students with costs associated with attending college, university or trade school.
Scholarship winner, Amelia Nelson, with TDECU Board Member, Frank Coe Angleton High School Cassie Harrell Harper Moorefield Brooke Stoddard Katelyn Thomas Bay City High School Seth Garza Sara Hackfeld Brazosport High School Jarvis Davis Camryn Mageors Kayla Nieto* Brazoswood High School Lauren Damian Allyson DeLuna Cole Laberge Nhu Nguyen Elizabeth Sargent Calhoun High School Karla Rothman Columbia High School Natalie Vasquez Jaymee Wilkinson
Cuero High School Leah Bishop Julissa Richmond
Sweeny High School Cierra Higgins JaMaRian Marshall
Danbury High School Alexis Townsend
Victoria East High School Hannah Chapa Mallory Hewitt Kimberly McCarthy
George Ranch High School Amelia Nelson Glenda Dawson High School Jalen Jones Hallettsville High School Janelle Hoch Manvel High School Ariyana Brown Palacios High School Maria Hurtado Refugio High School Mariya Pullin Shadow Creek High School Darren Zach Strick Homeschool Desiree Strick
TDECU Connection | July 2018
Victoria West High School Logan Gisler Ethan Lempa Wharton High School Madison Smith Woodville High School Claire Robinson Yoakum High School Lauren Caka Braden Hanzelka *Marcus Stephenson Scholarship
Congratulations, students, & good luck in your future endeavors! 2
Prepare for college now! What you need to know before applying for student loans.
Fill out your FAFSA
Evaluate alternative loan options
The Free Application for Federal Student Aid should always be filled out as early as possible. There are strict federal, state and college deadlines. Even if you think you won’t qualify, fill out the FAFSA because most grants and loans will require you to have a completed application on file. In many cases financial aid is given on a first-come firstserved basis. Applying early means you’ll have the best shot at the most financial aid possible. You can typically estimate income and tax amounts for the application. For more information visit www.fafsa.ed.gov.
Most students will need additional funding, so after you’ve exhausted federal loan options consider a private loan like TDECU’s Student Choice Loan. It’s important to compare loan details to make sure you’re getting the best deal on your student loan. Some important things to look into include:
Apply for scholarship and grants first Always look for “free money” first. Apply for scholarships and grants first. High school counselors and college financial aid offices are great resources for information about scholarships and grants.
Apply for federal loans After applying for scholarships and grants, you’ll want to check out federal direct student loans which typically offer borrower-friendly benefits. Consider federal student loan options before applying for alternate funding.
· Membership Some organizations require membership for a student to be eligible for certain benefits. As a Member of TDECU, you are eligible for all the great perks TDECU has to offer.
· Credit scores Expect to have your credit score checked when applying for a private student loan. Some students may not have enough credit or credit history to qualify for a loan. If a borrower does not meet the minimum credit and income requirements, they’ll need a co-borrower.
· Interest Rates, fees and repayment Interest rates and fees vary greatly at every financial institution. Always compare rates and fees on your loan. Look for a loan with zero origination fees, a low interest rate and flexible repayment options like TDECU’s Student Choice Loan.
For more information on options to pay for college, useful calculators & money management tips, visit tdecu.studentchoice.org. 3
TDECU Connection | July 2018
Earn more for your money with a Certificate of Deposit!
Open a Certificate of Deposit (CD) with a minimum deposit of $1,000 with terms from 3 to 60 months and start saving now to enjoy even more later!
Start saving today!
Learn more! Visit tdecu.org/CD or call 800.839.1154. Insured by NCUA.
Swipe. Pump. Save. Save lO¢ a gallon when you fuel up at Buc-ee's using any TDECU credit card* · 0% APR for 6 months on purchases & cash advances* · As low as 7.99% APR after 6 months* · 0% APR for 12 months on balance transfers* Transfer account balances and start saving now! Visit tdecu.org/balance-transfer to get started. *APR = Annual Percentage Rate. Subject to credit approval. Gas discount offer is subject to end without notice. Restrictions apply. See credit union for complete details. TDECU Connection | July 2018
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Make mid-year resolutions this summer
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TDECU Connection | July 2018
On January 1st of each year we make New Year’s resolutions to improve our health, home, careers or routines. But come the warm, lazy days of summer, we tend to find those resolutions – and the resolve it takes to succeed at them – are long gone. That’s why summer is the perfect time to reassess – and possibly renew – those 2018 resolutions. Here are some tips for your mid-year resolutions:
Look back What were some of the resolutions you made earlier this year? What happened? If you started off at a full sprint toward achieving your resolution but lost momentum, you’re not alone. Use any successes and failures as your way to fine tune your goals , and get back on track to successfully achieve what you set out to do!
Look at yourself If you made a resolution to start running three miles every morning, but you aren’t a morning person, reconsider your resolution and adjust it to one you can turn into a success. Knowing yourself is paramount to achieving your goals, so devise a plan that works with your personality, skills and natural inclinations.
Look forward One of the many reasons people don’t succeed in keeping their New Year’s resolutions is because solid goal dates aren’t set. This summer, make a mid-year resolution to achieve your goal by New Year’s Day 2019. When you give yourself a tangible due date and a specific plan to achieve it, you are more likely to succeed.
Look outside With more sunlit hours each day, summer gives us more time to accomplish our goals. The additional sunlight also provides us more energy to achieve those goals. So, take advantage of summer’s extra time for more active engagement to get healthy, pursue a hobby, make discoveries or create a new routine.
Whether you want to take more time to exercise, eat healthier, travel more or create more time for family fun, summer is the perfect time to make & succeed at new resolutions!
TDECU Connection | July 2018
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Social Security 101: What you need to know Although millions of people plan on using Social Security to make up part of their retirement income, how the program actually works is still a mystery to many. The team at TDECU Wealth Advisors can help you learn the basics! We’ll help you answer common Social Security questions such as:
• • • • •
Where does Social Security come from? How does Social Security work? How do I qualify for Social Security? How are benefits calculated? And much more!
Visit tdecu.org/wealth-advisors or call 877.635.7028 to schedule your complimentary, no-obligation planning consultation, and start planning for the future. Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. Not NCUA Insured
Not Credit Union Guaranteed
May Lose Value
Securities and Advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. TDECU, TDECU Wealth Advisors and TDECU Insurance Agency, LLC are not registered broker/dealers and are separate entities from LPL Financial.
Why do I need life insurance? No one wants to think about the day they’ll actually need their life insurance. If you’re lucky, that day may never come. Yet, the hard truth is, the majority of people who don’t have life insurance end up struggling to make ends meet when the unthinkable happens.
That’s where TDECU Insurance Agency, LLC comes in. We’re here to help you with your insurance concerns. We offer several types of life insurance and can advise you on the best type of life insurance and coverage options to fit your needs.
Luckily, there are plenty of affordable options that will ensure your family will be taken care of – even if you’re not there to take care of them.
Visit us at tdecu.org/tdecu-insurance or call 888.833.7358 to get started today!
Insurance products are not deposits, not NCUA insured and not guaranteed by TDECU Insurance Agency, LLC or Texas Dow Employees Credit Union.
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TDECU Connection | July 2018
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TDECU Connection | July 2018
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Need to use the ATM? Beware of "skimmers" Card skimming is a growing criminal activity that some experts believe costs U.S. financial institutions hundreds of millions of dollars annually. It’s important to note, however, that skimming is not just limited to ATMs. Stay alert when paying for gas at the pump or any other place you may have to insert a credit or debit card.
What is card skimming? Skimming is when criminals place an electronic device on an ATM, gas pump, or other machine that scoops information from a card’s magnetic strip whenever a customer uses the machine.
How card skimming works The devices planted on ATMs or other machines are usually undetectable by users, as the makers of this fraudulent equipment have become very adept at creating them, often from plastic or plaster, blending right into the machines facade. The specific device used is often a realistic-looking card reader placed over the factory-installed card reader. Customers insert their credit or debit card into the phony reader, and their account information is swiped and stored on a small attached laptop, cell phone or sent wirelessly to the criminals waiting nearby. Skimming typically involves the use of a hidden camera, installed on or near an ATM to record customers’ entry of their PINs into the machines' keypad. There have also been instances where, instead of a hidden camera, criminals attach a phony keypad on top of the real keypad, which records every keystroke as customers punch in their PINs. These devices are installed for short periods of time usually just a few hours - so they're often attached to the machine by nothing more than double-sided tape. They are then removed by the criminals, who download the stolen account information and encode it onto blank cards. The cards are then used to make withdrawals from victims' accounts in other locations. 9
How to avoid being skimmed • Make a habit of inspecting ATMs, gas pumps or credit card readers before using it. Be suspicious if you notice anything loose, crooked or damaged, or if you notice scratches or tape residue. • When entering your PIN, always cover the keypad with your hand to prevent possible hidden cameras from recording your number. • Exercise caution when using ATMs in tourist areas - skimmers target popular spots. If possible, use an ATM inside the location, as skimmers have less access to install skimmers due to heavier surveillance. • If your card isn't returned after your transaction or after hitting "cancel," contact your financial institution immediately.
TDECU Connection | July 2018
Simplify your banking with eDocument solutions TDECU's eDocument portal helps you keep up with today's busy, on-the-go lifestyle by allowing you to stay updated with your accounts 24/7. From statements to tax notices, stay informed about your TDECU accounts no matter where your day takes you. eDocuments give you desktop, tablet and mobile access to: • Receive statements and notices faster than mail delivery • Reduce the risk of identity theft with secure, password- protected delivery • Receive email alerts when documents are available for review
Get started today! Log on to online & mobile banking to enroll. tdecu.org/edocuments
Have some FUNds Receive a 1% discount on a secured loan rate with a TDECU credit card* Whether it’s a new or used boat, RV or other fun purchase, TDECU is here to help.
Apply today! tdecu.org/boat-rv
* Restrictions apply. Credit approval required. Limited time offer. Contact TDECU for full terms/conditions.
TDECU Connection | July 2018
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tdecu.org | 800.839.1154