Fall 2016 Newsletter

 

I Luv My Credit Union

Knights United new branchAnnouncements

A Bright Financial Future for Our Youth:
4th Student-Run Branch

 

 

Our fourth student-run branch is officially open in Charlottesville High School (CHS)! All students, faculty, and staff of the school may open accounts by visiting the branch near the cafeteria. It’s been named Knights United, after the school’s mascot – the Black Knights – and has been beautifully designed in the school’s colors and with chic furniture. To commemorate the branch opening, we and Charlottesville City Schools hosted a ribbon cutting ceremony at the school on August 18. Over 75 people attended – including the media – to take a tour, learn about our financial education program, and listen to guest speakers. The school district’s key players and credit union chairman of the board, Jeffery C. Moscicki shared some words, along with Lukas Houpt, one of the student tellers.

Jeff Moscicki      Knights United branch opening      Dr. Rosa Atkins

 

 

 

 

 

 

 

 

 

 

Following the ceremony, CHS Principal Dr. Eric Irizarry and credit union staff conducted tours of the new branch just before Ben & Jerry’s set up shop to serve ice cream sundaes. This perk, along with the school’s open house, piqued the interest of other guests – hundreds of them. The event gained a great deal of media coverage, making it an overall success.

Knights United ribbon cutting

 

 

 

 

 

 

 

 

 

 

 

 

 

Participating in the ribbon cutting were the following supporters (from left to right): Wes BellamyVice Mayor of Charlottesville; Dr. Irizarry, CHS Principal; Student EmployeeJuan Wade, School Board Member; Jeffrey C. Moscicki, Chairman of the Board, UVA  Community Credit Union; Dr. Rosa Atkins, Charlottesville Schools Superintendent

Our student-run branches have been a progressive way to educate our youth about financial responsibility and to prepare them for a bright financial future. Students gain practical money skills by opening and maintaining account, as well as attending free seminars conducted by the credit union. They also have the opportunity to learn about banking-industry careers by working at the school branches and participating in related classroom projects. In an effort to open new accounts, staff is communicating a promotion that will run until the end of the year.

*Students, faculty, and staff who open an account at their school branch get a free t-shirt & sunglasses PLUS $10 put into their account in January.* But we aren’t leaving current members out of the excitement.

*Make 3 x $10 deposits by the end of the year, and get the same rewards!*

Click here to learn more about Knights United and these promotions.  Don’t forget! Our promo is valid at our Lion Nation, Patriot Pride, and PVCC branches, too! Check them out here.


Virginia Sports SponsorOur Community

Proud Sponsors of Virginia Athletics

 

 

 

We are proud to announce that we are the "official partner of Virginia Athletics!"

Spot us on the digital boards at the home games and during halftime for our Punt, Pass, and Kick contest. Check out the winners from each game (who have won up to $500 each!) on our Facebook page.

Punt Pass and Kick UVA

 

 

 

 

 

 

 

 

 

 

 

 

 

September 3, 2016 Punt, Pass, and Kick at Scott Stadium

 



New enhancementsRecent Enhancements

Online Banking

 

 

External transfers

You can now transfer money for free between your external and UVA Community accounts! Yes, this is a BIG deal. Learn more.

Mobile deposit limit increase

Now, you can deposit more on your time! We’ve increased mobile check deposit limits to $3,000 per check, per day.


financial institutionDid You Know?

Credit Union Membership Is Worth Hundreds

 

 

Did you know you're saving money – maybe hundreds of dollars a year – just by being a UVA Community Credit Union member? Credit unions typically charge fewer and lower fees than other financial institutions, according to the Credit Union National Association's (CUNA) latest membership benefits report. 

Of course, the amount you save has a lot to do with your financial habits and the number of our products and services you use. On average, credit union member households in the U.S. save about $159 a year. 

Some of those savings come from higher rates on savings products. For example, according to CUNA's latest report, money market accounts at credit unions earned an average interest rate of .18%, while the same accounts at banks earned .09% interest. 

Lower rates on credit cards also benefit the bottom line. CUNA reported that the average rate for a classic credit union credit card is 11.70% versus 17.16% for a bank credit card.

Credit Unions lower feesConsider this: financing a $25,000 new automobile for 60 months at a credit union will save members an average of $171 per year in interest expense compared to what they would pay at a banking institution. That's approximately $855 in savings over five years. Use our handy LoanSaver Calculator to help you plan!

Credit unions offer better value because they are not-for-profit institutions owned and controlled by their members. Banks are owned by stockholders who want solid returns on their investments. 

Bottom line: If you're looking for a safe place to save and borrow, without getting nickeled and dimed, credit unions are the best deal – bar none. Don’t forget to let your friends know!

Copyright 2017 Credit Union National Association, Inc. Information subject to change without notice. All other rights reserved.

To learn more about credit unions and why they’re unique, watch our It’s a Money Thing video.

 

 


 MWMHow-To Tips provided by Member Wealth Management*

Why Purchase Life Insurance?

 

 

 

We’ve all heard about the importance of having life insurance, but is it really necessary? Usually, the answer is “yes,” but it depends on your specific situation. If you have a family who relies on your income, then it is imperative to have life insurance protection. If you’re single and have no major assets to protect, then you may not need coverage.

In the event of your untimely death, your beneficiaries can use funds from a life insurance policy for funeral and burial expenses, probate, estate taxes, day care, and any number of everyday expenses. Funds can be used to pay for your children’s education and take care of debts or a mortgage that hasn’t been paid off. Life insurance funds can also be added to your spouse’s retirement savings.

If your dependents will not require the proceeds from a life insurance policy for these types of expenses, you may wish to name a favorite charity as the beneficiary of your policy.

Whole life insurance can also be used as a source of cash in the event that you need to access the funds during your lifetime. Many types of permanent life insurance build cash value that can be borrowed from or withdrawn at the policyowner’s request. Of course, withdrawals or loans that are not repaid will reduce the policy’s cash value and death benefit.

When considering what type of insurance to purchase and how much you need, ask yourself what would happen to your family without you and what type of legacy you would like to leave behind. Do you want to ensure that your children’s college expenses will be taken care of in your absence? Would you like to leave a sizable donation to your favorite charity? Do you want to ensure that the funds will be sufficient to pay off the mortgage as well as achieve other goals? Life insurance may be able to help you meet these objectives and give you the peace of mind that your family will be taken care of financially.

The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications. Any guarantees are contingent on the financial strength and claims-paying ability of the issuing insurance company.

If you are considering the purchase of life insurance, consult a professional to explore your options.

Purchasing Life Insurance

 

 

 

 

 

 

*NOT A CREDIT UNION DEPOSIT; NOT NCUA INSURED; NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY;NOT GUARANTEED BY THE CREDIT UNION; MAY GO DOWN IN VALUE
Securities, Investment Advisory and Financial Planning services offered through qualified registered representatives of MML Investors Services, LLC, Member SIPC: 222 Central Park Ave Suite 1100 Virginia Beach VA 23462 (757) 490-9041. Member Wealth Management is not a subsidiary or affiliate of MML Investors Services, LLC or its affiliated companies.

1 American Benefits Council, 2014

The information in this article is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Emerald. Copyright 2016 Emerald Connect, LLC.

CRN201611-197175

 


 Food for thoughtFood for Thought

Recipe for the Road: Beer-Cheese Spread: A spicy snack for your next UVa tailgate!
from myrecipes.com

 

 

As a UVa Athletics sponsor, it’s our privilege to make sure you’re equipped for the game. Try this fun recipe to get the most attention before the game!

Serve with crackers, or spread on buttered bread and cook in a nonstick skillet for a twist on the traditional grilled cheese sandwich.

Yield: Makes 5 cups

Beer-Cheese Spread

Ingredients

1 (2-lb.) block sharp Cheddar cheese, shredded

1 small onion, minced

2 garlic cloves, minced

1/2 teaspoon hot sauce

1/4 teaspoon ground red pepper

1 (12-oz.) bottle amber beer, at room temperature

Salt and pepper to taste

Garnish: thyme sprig

 

Preparation

1. Beat together first 5 ingredients at low speed with a heavy-duty electric stand mixer until blended. Gradually add beer, beating until blended after each addition. Beat at medium-high speed 1 minute or until blended and creamy. Season with salt and pepper to taste. Cover and chill 2 hours. Garnish, if desired. Store in an airtight container in refrigerator up to 2 weeks.

Note: For testing purposes only, we used Abita Amber Beer. This spread can be frozen up to 1 month; thaw overnight in refrigerator.

For Grilled Beer-Cheese Sandwich: Spread 1 tsp. softened butter evenly on 1 side of 2 bread slices. Place bread slices, buttered sides down, on wax paper. Spread 1/4 cup Beer-Cheese Spread onto 1 side of 1 bread slice. Top with remaining bread slice, buttered side up. Cook sandwich in a nonstick skillet or griddle over medium heat 3 to 5 minutes on each side or until golden brown and cheese is melted.

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