USSFCU Spotlight | Fall/Winter 2022

Jeff

Kathy

Timothy

Another Successful Year...

While every year is a new opportunity to make a difference in the lives of our members, 2022 was especially successful and profitable for the credit union. With all the news of inflation, rising interest rates, supply chain shortages, challenging economic times, and calamity abroad, the credit union remained focused on taking care of the financial needs of our members.

Even though inflation was primarily caused by strong consumer demand, several supply disruptions, and believed to be transitory, the Federal Reserve Chairman revised policy as prices for goods and services continued to rise. To contain inflationary pressures, the Federal Reserve aggressively hiked short-term policy rates throughout the year. Despite this shock to the economy, we continued to deliver the kinds of financial services you have come to expect from your credit union.

CEO Tim Anderson

Throughout 2022 we exceeded financial targets despite the gloomy economic outlook, and for the first time in the organization’s history, surpassed a billion dollars in loans to our members and member businesses. Amidst a year of rising prices and economic despair, the credit union made more loans to our members than any other year. Whether it was a home loan, refinance, personal, home equity, home improvement, homeowner, business, auto, lines of credit, student credit, credit cards, or any of our lending products, we are here to meet your needs.

The loan growth, while historic, is only meaningful because you are the ones benefiting. We have always prided ourselves on being present when our members need us the most.

In addition to our financial success, we rolled out two major platforms to enhance your member experience:

1. New mobile and online banking: converted to a more robust mobile and online banking platform. The new Banno system provides 2-factor authentication with an assortment of improved and interactive features.

2. New communications call-in system: a new menu, call flow, and features designed to provide a more streamlined and efficient member experience.

Higher Dividend Rates

Interest rates on all our products and services are priced with you in mind. Credit unions in general offer higher deposit and lower loan rates. For the last few years in a low-rate environment, deposit rates lagged significantly. During this time, conversely, mortgage rates were at an all-time low. We were able to help many members realize their dream homes with very attractive rates. Members also took advantage by refinancing higher-rate mortgages and saving hundreds and even thousands of dollars on monthly payments. In contrast, we are now in a rising rate environment and can offer very attractive rates on deposits and savings. At one point, we were offering a promotional certificate of deposit (CD) with the highest rate in the country. This year we significantly increased all deposit rates to bring you some of the top dividend returns for your money. At the credit union, we know you work hard for your savings and want to pay you competitive rates.

Retaining and Recruiting Talent

This year and beyond, we will place additional focus on retaining and recruiting talent. Keeping employees motivated and engaged during this “great resignation” period has been an emphasis for us. We are very proud of our people and the work they do, seeking new and better ways to serve you. It starts with the leadership we assembled and cultivating a thriving organizational culture that permeates the entire credit union. Our people know we care and support them, which helps retention and fosters a healthy and successful workforce.

Moving into 2023 & Beyond

As we move forward and inflation subsides, consumer price index (CPI) data fit with our view the Federal Reserve will slow the pace of rate hikes in the coming months. This should help stabilize deposit and loan interest rates. While some believe the aggressive rate hiking to curb inflation will eventually throw the economy into a recession, one thing you can be assured of is your credit union will continue to thrive and prosper. We have seen many economic downturns in our 87-year history, and each time we weathered the storms and stood with our members by providing them with financial services, solutions, and security for every circumstance and situation.

Thank you,

Timothy L. Anderson USSFCU President & CEO

SECURITY THAT SAVES TIME

A combination of cutting-edge technology and industry best practices to ensure the security of your personal and financial information.

Two-Factor Authentication

Help protect your account from unauthorized access by requiring an additional sign-in code.

Biometric or 4-Digit Access

Use fingerprint authentication, FaceID, or a 4-digit passcode for quick, secure access to your account.

In addition to more secure ways to access your account, we have implemented new technology that monitors activity and evaluates if a threat is present. It also blocks malicious attempts to access the platform without authorization.

Manage your banking security all in one

Change your User ID, password and challenge questions.

place.

Sign up to get a one-time authorization code by text or email each time you log in.

Set up optional security alerts, including an alert to let you know when an unrecognized device signs in using your User ID.

Learn more about our privacy policy at ussfcu.org/privacy.

PERSONALIZED & INTERACTIVE

Customize Your Dashboard

View all your banking and account information at a glance. See your account information, access money movement actions, view account activity, view remote deposits, and see messages and alerts. Easy to organize cards allow you to decide how to sort your most important information.

Organize Your Transactions

Your transaction list becomes interactive with the ability to tag, add notes, and attach images of receipts. Navigating transactions is simple with search capability paired with friendly, fluid, infinite scroll.

Tag Transactions

Tag your transactions to make organizing and searching for them easier.

Add Notes to Transactions

Provide more context to your transactions with custom notes.

Export Transactions

Attach Images of Receipts

Easily track your expenses and provide images for your record keeping.

Search for Transactions

Dynamic search that filters transactions as the user types.

Export transaction data for a range of dates in a variety of formats.

CUSTOM ACCOUNT ALERTS

Receive real time alerts to help notify you of large deposits and guard against low balance, unusual activity, and fraud. You can customize email, text, and in-app alerts so you know what’s going on with your account and can act when needed.

Choose from many alerts, such as:

» Available account balance

» Credit card or debit card used online

» Unusual account activity

» High or Low Balance

»

Large Debit/Credit Transactions

Be aware of bank alert scams! Scammers may send fake account alerts through text or email (known respectively as phishing and smishing) requesting information from the account holder to authorize a transaction or fix a problem with the account, but really, they’re attempting to get your personal information for illegal use.

CONVERSATIONS

Need to speak to someone about your account? Get one-on-one support from a USSFCU Member Services Representative right from within online and mobile banking.

It’s Personal! See the name and a picture of the person assisting you.

It’s Secure! Every conversation is encrypted, and fully authenticated.

It’s Easy! You can start a conversation from your dashboard by simply clicking on the Message icon.

Ask us about your account(s) and transactions.

For inquiries regarding an individual account, transaction, or payment, clicking the Ask us about option, lets you start a conversation with all the important information pre-loaded. You can also select Add to a conversation to continue an existing conversation.

Once you receive a response in your conversation, you will be notified via push notification and email. A notification icon appears on the Messages tab, signifying the number of unread messages.

REMOTE DEPOSIT ANYWHERE (RDA)

With the myUSSFCU app you can deposit checks from anywhere, using the camera on your smartphone or tablet. Just sign, tap, and submit! Your deposits are password protected and encrypted.

» With just a few simple steps, your deposit is on its way.

Some things to look out for in an alert that might signal a scam are:

» Requests that require giving out personal information, like Social Security or bank account numbers.

» The alert asks you to log into your account from a provided link.

» You’re asked to contact a phone number that appears to be your bank’s number. It may be someone posing as a bank representative.

Get to Know: KnowledgeBase

» Simply open the myUSSFCU app and tap “Deposit a Check.”

» Sign the back of your check and write: “For Mobile Deposit Only” beneath your signature

» Enter the deposit amount

» Choose which account you want to deposit the funds into

While you have a number of new options and tools a click or tap away, the user interface is simple and easy to use so the experience doesn’t feel overly complex. To take full advantage of everything the new platform has to offer, head to our KnowledgeBase. We will continue to update the info on the site to provide clarity, insights, and address as many questions as possible. Visit our KnowledgeBase at ussfcu.org/myUSSFCU

» Take a picture of the front and back sides

» If everything looks OK, just tap “Submit”

ADVANCED CARD CONTROLS

Switch cards on and off, block transactions made outof-country, be notified about certain purchase types, restrict transactions at restaurants, or gas stations or a variety of other merchant types. You can even set a custom spending limit of $500 (or $5,000).

With Advanced Card Controls you can help prevent fraud, control your spending limits, and be alerted to all or specific types of transactions. Where you receive your card notifications is completely up to you. Choose to receive alerts via text, email, or in-app notification

» Get instant alerts when your cards are used

» Set dollar limits to keep spending in check

» Prevent transactions that don’t match your settings

Card On / Off

Temporarily freeze your cards if they’re lost, stolen, or being misused.

Report Lost / Stolen

Quickly report a lost or stolen card.

Activate Securely activate your credit card online.

Re-Order Card

Re-order your card to replace an existing card.

Travel Protection

Tell us when you’re traveling with your cards to help make sure your time away from home is stress-free.

ONLINE BILL PAY

myUSSFCU’s robust and revamped online bill pay suite gives you the flexibility and options to make payments to whoever and whenever.

» Get text or email alerts when a bill is due.

» Set up recurring payments for monthly bills.

» See your payment history and account balance.

MANAGE YOUR CREDIT

Review your latest FICO® Score, gain understanding of the key factors that impact your score and get tips on how to improve. Accessing Experian Credit and your FICO® Score through this platform will not impact your credit score. Log in to myUSSFCU and click Experian Credit to access your latest FICO score.

REDEEM REWARD POINTS

Manage and redeem your Smart reward points online and on the myUSSFCU mobile app. Just sign in to your myUSSFCU account and click the Card Rewards tab. You’ll instantly be directed to the rewards portal. From there, you can view your point activity, browse rewards, and redeem for what you’d like.

» Gift Cards: Choose from hundreds of your favorite stores and restaurants.

» Travel Rewards: Flights, hotels, car rentals, cruises, vacation experiences, and more.

» Cash: Spend it however you want.

» Merchandise: Choose from thousands of popular items.

» Purchase Rebates: Get reimbursed for what you’ve already bought.

ESTATEMENTS

Not Enrolled in myUSSFCU?

Simply visit my.usssfcu.org, answer a few quick questions and we’ll provide you with your login credentials.

Access all your account statements, tax documents, and other important notices in one secure place--right from your myUSSFCU account.

Congratulations to our mortgage team for receiving the Credit Union Mortgage Association (CUMA) Double

Titanium Award

Scott Toler, President & CEO of CUMA, delivered and presented the award to the team in person last spring. The award recognizes our team for 1st place, producing over $107 million in mortgage loans in 2021, out of 90 credit unions. Proud of you Dream Home Mortgage Team.

USSFCU MEMBER SPOTLIGHT: MYRON

J. FLEMING

Best described as humble, congenial, down-to-earth, honest and hard-working.

Former Senate Minority Leader Harry Reid put it best with the use of one simple sentence, “everyone who knows him likes him.” Myron’s positive attitude and affective presence have gained him the respect and admiration of many during his time on Capitol Hill and we couldn’t be prouder to feature Mr. Myron J. Fleming in this edition of USSFCU’s Member Spotlight.

Myron Fleming & Former President Bill Clinton

Fleming grew up in Cleveland, the son of a contractor. “We were always considered very middle-class; my father provided well. We had everything we were supposed to have.” Says Fleming.

Fleming came to Washington as an aide to his hometown House member, the late Democratic Rep. Charles Vanik of Ohio, but left after seven years to work for Random House and McGraw-Hill in New York. A decade later, he returned to Capitol Hill as a staff member for Sen. Howard Metzenbaum, D-Ohio.

“Senator Metzenbaum told [then-Senate Sergeant at Arms F. Nordy Hoffman], ‘I’m sending you one of mine. He’s from my home. I know his family. Give him something good.’ “It was just like that; nothing else. Poor Mr. Hoffman did what he was supposed to do and took care of me.”

Fleming started as a driver for Hoffman while the sergeant at arms tried to find him a job on the Senate floor. When Republicans gained control of the Senate in 1981, Hoffman was succeeded by Howard S. Liebengood, who moved Fleming to the “pass desk,” which issues credentials so that staffers can go on the floor. Fleming remained there for 15 years. “In that particular job,” he said, “you’re dealing with the people who really run the Senate—the chiefs of staff and the directors of the committees.”

When Gregory S. Casey was elected sergeant at arms in 1996, he placed a call to Fleming. “Myron, why didn’t you apply for the big job [director of doorkeepers]?” Casey asked. “Greg, I’m not even interested in it,” Fleming replied. “If you leave me here and give me $10,000 more, I’ll stay put and be quiet.”

“No, we can’t do that, because we have the [Congressional] Accountability Act now. Can’t I interest you in the job?” “No.” Five minutes later, Casey summoned Fleming to his office.

“We sat and we talked in his office for about two hours or longer,” Fleming said. “He just knew everything that had happened and what was going on, and he felt that I was the person to run the entire doorkeeper operation. He said to me [that] the reason he had wanted me to have the position was because he had

checked around on both sides of the aisle, and everyone thought I was perfect for the job, that I showed no partisanship—which I never did. I couldn’t give a darn if someone was a Democrat or a Republican. I always left party to the members.”

Fleming accepted the position.

As Fleming prepared to retire, Majority Leader Harry Reid, D-Nev., praised the garrulous director of doorkeepers on the Senate floor. “He has a wonderful personality,” he said. “He is someone who helps keep order in this institution, and his presence in the Senate is one that is calming. Everyone who knows him likes him. It just will not be the same without him.”

What advice do you have for young people beginning their Congressional career?

“Keep your head down and your thoughts to yourself.“

In an environment where opinions run high, having the discipline to keep yours to yourself will serve you well. Whatever the views of others might be, stay on the sidelines and do your job. Ignore your instinct to speak your mind and you’ll do just fine.

40+ Years of Credit Union Membership

Myron is a 43-year member of the U.S. Senate Federal Credit Union. He joined in 1979, when the credit union was located in a basement office in the Russell Senate Office Building.

Myron watches Former President Obama Speak from the front row.

“The credit union was a smaller operation back then, with just a handful of people running the show”, recalls Myron. “Right from the start, the Credit Union impressed me with their level of concern and willingness to help.”

As Myron’s family grew, so did his relationship with the Credit Union. From cashing checks, to financing the family vehicle, and eventually putting two children through college, Myron credits the Credit Union as being a true partner he could rely on again and again.

Not only is Myron a long-standing and loyal member of U.S. States Senate Federal Credit Union, but he also served many years as a volunteer for USSFCU’s former Credit Committee.

His integrity, combined with his commitment and willingness to serve the Senate community have had a lasting influence on shaping the Credit Union’s success.

Portions of this Spotlight were derived from the following source: Hopkins, Christopher Snow “Retiring Senate Doorkeeper Has Seen Good Times and Bad” National Journal, 19 Mar.2013

President Biden and Myron Fleming Shake Hands

President Biden and Myron Fleming Shake Hands

A deep, heartfelt thank you is extended to Mr. Myron J. Fleming for his dedicated service and the incredible impact his contributions continue to have on the organization and in the lives of our members.

MEMBER S ’ VO ICE MEMBER S ’ VO ICE

Member comments from our member satisfaction surveys. YOU SPEAK. WE LISTEN.

“Value, service and knowledgeable representatives!” • Jolena O.

“I have been a member for over 50 years, and I have always gotten good service with loans, when I had to have service at a branch, and when I needed to have money sent to me from my savings account. The personnel have always been friendly and treated me with respect.”

“I’ve always been impressed with the staff for their professionalism knowledge and timely responses to my inquiries. There have been times when a staff member may not have sufficient knowledge to answer a specific question. But it wasn’t a problem. They conferred with other staff to provide us with the information needed, or called back in a timely matter after acquiring the information we needed or linked us to the appropriate staff who could help us. I always feel that I can either obtain the information I needed or be contacted by an appropriately knowledgeable staff with one phone call.” • Laura T.

• John H.

“I have appreciated USSFCU services for many years since I left my work on Capitol Hill. I have appreciated the occasional webinars on purchasing a home or retirement planning.” • Jamie D

“Excellent customer service streamlined and transparent process. The representatives are efficient, knowledgeable, and understanding of the type of loans offered by the Credit Union.”

• Erwin M.

The Advantages of a Business Credit Card:

If responsibly used, a business credit card allows entrepreneurs like you to invest in resources to grow your company when you may not have access to working capital. Here are just some of the ways having a business credit card can have a positive impact on your company’s growth.

• Build Credit

Building up a good payment history can help establish and improve your company’s credit score. The better your business credit, the more options you’ll have for long-term funding when you decide it’s time to expand, add additional products, upgrade equipment, or otherwise build your business.

• Improve Cash Flow

Whether it’s raw materials for manufacturing, physical inventory to drive sales, or other products to run your business smoothly, a credit card ensures you have exactly what you need when you need it. Additionally, business credit cards are an excellent way to cover any unexpected expenditures and to ensure you’re prepared should any business emergencies arise.

• Keep Track of Business Expenses

Keeping track of expenses is much easier with a business credit card statement to look at. Using a business credit card to pay for variable business expenses makes it easy to track how much you’re spending on each one. In addition, this data will help you predict what you’ll need for better budgeting in the future.

• Simplify Accounting and Tax Preparation

Having a separate credit card just for business keeps accounting tidy and can safeguard your personal assets by not mingling them with those of the business. This can also help you deduct business-related expenditures at tax time. Plus, you’ll pay less in accounting fees if you can avoid having your accountant sort through your records as well.

• Earn Reward Points

Reduce your out-of-pocket expenses by earning rewards for everyday purchases you’d be making anyway. Rewards can be redeemed in a variety of ways, such as statement credits, gift cards, merchandise, and travel.

Another advantage of a business credit card is that by using it, you are demonstrating the growth of your business while promoting it at the same time. Even someone running a home-based business gains more credibility when flashing a business credit card.

small business SPOTLIGHT

“The U.S. Senate Federal Credit Union has actually been my longest and healthiest banking relationship. I jest, but only just. The folks at the [USSFCU] have always been there for me and my small business, be it seeking a loan for a new car or help with the PPP loans during COVID. I know other business owners who are constantly struggling with their bank, and I always tell them to find a credit union! I’m lucky I did.” —Nicole Harkin

USSFCU wants to take a moment to thank our community of small business members. To help support these businesses and bring our credit union community together, we want to spotlight some of our business owning members and the unique services they offer. Today, we focus on writer, natural-light photographer and podcaster Nicole Harkin.

20+ YEARS OF USSFCU MEMBERSHIP

Nicole Harkin is an award-winning photographer and writer based in Washington, D.C. She has been taking pictures of families since 2009. Her photography focuses on seeking to capture real life moments. She’s also a pro at taking and producing professional headshots.

Harkin Award-Winning Photographer & Writer

nicoleharkin.com nicoleharkinwriting.com

“ Everyone has a cell phone camera, but not everyone’s a professional photographer. I make things easy and uncomplicated. Not only should a good photographer understand the technical aspects of photography, but also know a bit of child psychology. I have two little boys and over the years I have learned how to get all kids to cooperate during a photo session. I’m happy to help and I make things as easy as possible. Book a session, we’ll meet, and chat about random topics while I do funny things to make your kids look at me and laugh. In about a week I will send you your digital images.”

Nicole was raised in Georgia and Montana as the oldest of four children. She received her BA in Political Science with a minor in German and Geology from Purdue University. I attended Pace University School of Law and was previously admitted to the New York State Bar. As a Fulbright Scholar and then a Robert Bosch Fellow, Nicole lived in Berlin, Germany where she studied German environmentalism and the German Freedom of Information Act. Nicole spent 10+ years working on government oversight, both outside and within the government. At the end of her government tenure, she focused on retirement policy.

In addition to photography, Nicole is also an award-winning writer. Her first book, Tilting, A Memoir was released in 2017 and received a gold in the Wishing Shelf Book Award in 2018. Tilting, A Memoir chronicles Nicole’s childhood growing up in Georgia and Montana. The book is highly recommended, receiving 4.3 out of 5 stars on Amazon with 173 reviews.

Nicole is currently working on a murder mystery titled Death in Berlin. She is a freelance writer for a variety of different outlets, including Cool Tools, Brevity, Thought Collection, among others. Her writing can be read at: www.nicoleharkinwriting.com.

Nicole

With details about federal student loan repayment and cancellation finally announced, and interest rates continuing to climb, now could be the perfect time to consider refinancing your student loans. If you have loans that won’t qualify for the federal measures, let USSFCU help you take control with our student loan refinance solution!

Refinance and consolidate your private and/or federal student loans* including PLUS loans, setting up one convenient payment and potentially saving on interest or monthly payments. Also, enjoy no payments and no interest for 3 months1 and get $5002!

Whether you want to lower your interest rate, pay your loans off sooner, or reduce your monthly payment, we’ve got options to fit your needs.

*By refinancing federal student loans, you may lose certain borrower benefits from your original loans, including interest rate discounts, principal rebates, or some cancellation benefits that can significantly reduce the cost of repaying your loans. It is important to remember that if you refinance some or all of your federal student loans into a private student loan with the credit union, you will lose access to any current or future federal student loan benefits, such as potential debt cancellation or income-driven repayment options. For more information, visit studentaid.gov or contact your federal student loan servicer.

1 To qualify, the loan application must be started between 10/10/2022 and 3/31/2023 and the selected repayment term must be 15 years or less. Upon disbursement of your refinance loan, no payments will be required and no interest will accrue during a three-month promotional period. After this three-month promotional period ends, this loan requires full payments of principal and interest. The credit union reserves the right to modify the terms of this offer at any point in the future for new applications. 2 Upon approval and disbursement of your refinance loan, the primary borrower will receive a cash deposit of $250. To qualify, the completed loan application must be received between 10/01/2022 and 3/31/2022. The cash deposit will be awarded in the form of a deposit to your credit union checking or savings account within 90 business days from the funding date of the loan. The primary borrower must be a credit union member in good standing at the time of deposit. Limit one cash award per borrower. The credit union reserves the right to modify the terms of this offer at any point in the future for new applications.

Membership eligibility required. Eligibility does not guarantee membership. This credit union is federally insured by the National Credit Union Administration. Equal opportunity lender.

Joy of Giving Golf Tournament & The Chamber ALX’s Annual Golf Classic

September 2022 | Springfield, Virginia & Ashburn,

Virginia

September was a busy month for USSFCU as we sponsored both the Joy of Giving Golf Tournament & The Chamber ALX’s Annual Golf Classic. Each event dedicated to giving back to a cause. In true USSFCU fashion, we brought goodies and snacks to support the golfers and also gathered up our staff to build a team to play in the tournaments.

35th Annual Bark Ball

October 2022 | Washington, D.C.

USSFCU had a wonderful opportunity to be a sponsor of the 35th Annual Bark Ball brought to you by one of our segs, the Humane Rescue Alliance (HRA). The event raised more than $500,000 in donations!

INTERNATIONAL CREDIT UNION DAY

October 2022 | USSFCU Branches

THE CHAMBER ALX’S 2022 BEST IN BUSINESS AWARDS October 2022 | Alexandria, Virginia

for

have been fully

be 18 years or older

participate in this program at any time with or without prior notice. USSFCU’s family member referral rewards program may not be combined with other

Membership eligibility required. Eligibility does not guarantee membership. This credit union is federally insured by the National Credit Union Administration.