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Fall Extra Credit 2017

UVA Community Credit Union

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UVA CCU Biz Kids Expo Booth










Setting 10th Graders up for Financial Success

“What do you want to be when you grow up?” We’ve all been asked this question at some point in our lives. That’s a trickier question now. With today’s ever-changing world economy, how do our youth prepare for the future job market?

To help, UVA Community Credit Union has once again partnered with the KidsCollege at Piedmont Virginia Community College to host the 10th Grade Biz Kid$ Career Pathways Expo at the University of Virginia’s Newcomb Hall on October 31 and November 1.

This two-day event will introduce more than 2,000, 10th graders from local school districts to possible career pathways and give them a glimpse into their future. The Biz Kid$ Career Pathways Expo has two educational components: an interactive business/employer exhibit hall and the Biz Kid$ Real Life Challenge, an interactive budgeting simulation game.

Approximately 40 to 50 businesses engage students with interactive displays highlighting career opportunities in their field, and the education, training, and skills required to be successful in their industries.

UVA Community Credit Union hosts the Biz Kid$ Real Life Challenge. In this simulation, students select their careers and are given their respective monthly salaries, as well as average student loan payments. Students then travel from station to station, making life choices, such as housing, food and transportation. At the end of the day, the students must balance their budget. It’s not uncommon for students to go back and make different choices or get a second job to make ends meet. The goals of this game are to create an appreciation for budgeting and lifestyle choices, as well as help students understand the importance of secondary education and how it relates to the cost of living and quality of life. After this event, we hope students will be able to answer “What do you want to be when you grow up?” with an educated answer that will meet their personal and life-long goals.

Area businesses: We need your help!

Want to get involved? If you’re a local business and would like to participate in this event please email to learn more.



UVA Community Credit Union Branch










International Credit Union Day

International Credit Union (ICU) Day® celebrates the spirit of the global credit union movement. This day has been celebrated on the third Thursday of October since 1948.

Your UVA Community Credit Union membership means resources to do more with your money, to achieve the dreams you set for yourself and your family whether it be home ownership, a dream vacation, that new car or an education. When you’re a member at UVA Community Credit Union, you are a part of something special.

Be sure to visit a branch during October, we’re celebrating our heritage on October 19th. Stay tuned to our Facebook page and our website for updates on our celebratory events planned for this special day, including a themed cake in our branch lobbies plus giveaways and more.

 Did you know?


Protect yourself from identity theft










Protect Yourself From Identity Theft

What is Identity (ID) theft? ID theft is a crime where an impostor uses your personal information without your permission to commit fraudulent financial activity or other crimes. Personal information can range from social security number, driver's license number, birth date, mother's maiden name, medical id number, or other identifying information.

How can my identity be compromised? Thieves can obtain your personal information in a variety of ways, including but not limited to:

  • removing mail from your unlocked mailbox
  • going through your trash for copies of credit card offers, bank statements or other financial documentation (known as dumpster diving)
  • finding your lost or stolen wallet
  • security breaches at companies that have access to your personal data.
  • Phishing is a method of identity theft carried out by tricking a person into clicking a link in an email, where they are taken to a website that looks genuine. The victim thinks they are entering personal information for a legitimate purpose, but the criminals then use the personal information for their own purposes. To prevent phishing hover over the link in the email to show where it is actually pointing to verify its legitimacy.  Caution, make sure the address doesn’t contain lettering that may trick you. For example two letter “v” in a row might look like a “w.”
  • Smishing is similar to phishing but uses cell phone text messages to trick the recipient into divulging account or personal information.
  • Pharming is when criminal hackers redirect Internet traffic from one website to a different, identical-looking site, once again, in order to trick you into entering your personal information into their fake site
  • pretending to be someone else in order to obtain your information over the phone, also known as pretexting
  • installation of malware, spyware or viruses on your computer or smartphone to track your keystrokes and other personal information

How can you be proactive to minimize the risks of ID theft? There are several things you can do to minimize your risk of identity theft.

  • Be vigilant in monitoring your financial statements. Sign up for E-statements, or consider replacing your current mailbox with one that has a locking mechanism.
  • Keep your contact information update to date with your financial institutions.
  • Shred any credit card offers, or other papers that contains any personal information before you toss them.
  • Check your credit reports once a year, and notify the credit agency if you find a discrepancy. By law you are entitled to a free credit report once a year from each of the three major credit reporting agencies. You can get access to all three agencies through
  • Use Central Finance to regularly review balances and transactions on all of your accounts or credit cards, even non-credit union accounts. Set Central Finance automated alerts to notify you of large transactions or account balances reaching specified limits.
  • Safe-guarding your computer, and other electronic devices with passwords. Use best practices for online activity, such as don't choose "Remember Password" or allow a website site to keep sensitive information for future convenience; use strong passwords with letters, numbers and symbols. Don’t share your password.
  • Surf wisely. Be selective about the links you click. Only use secure websites for online transactions (indicated by https or the locked padlock icon)
  • Keep your computer safe by encrypting your WiFi password. Keep firewalls and keep security patches and protection software up-to-date. Scan your computer for viruses, malware and spyware.
  • View a copy of the Federal Trade Commission (FTC) publication: "Take Charge: Fighting Back Against Identity Theft".
  • The best offense is knowledge. "Identity Theft: Whose Got Your Number" is one of the free educational seminars offered by the credit union. Check our schedule.


How-To Tips Provided by Member Wealth Management



Indexed Annuities

Like all annuities, an indexed annuity is a contract with an insurance company that provides an income stream — either immediately or at some point in the future — in exchange for premium payments. However, indexed annuities are unique in offering a minimum rate of return (typically 1% to 3%) that helps to preserve principal, along with some potential for gain when the market is riding high.

If the market has a negative year, you would receive at least the minimum return (if the annuity is held until the end of the contractual term). If the market has a positive year, you would receive a higher rate of return, based on the performance of a specified market index such as the S&P 500.

Only one in four baby boomers expects significant income from a traditional pension.








Calculating Return Rates

The participation rate determines how much of the index gain will be credited to the annuity. A participation rate of 80% means the annuity would be credited with only 80% of the gain experienced by the index.

A spread/margin/asset fee may be assessed in addition to, or instead of, a participation rate. If the index gained 10% and the spread/margin/asset fee was 2.5%, then the gain in the annuity would be 7.5%.

The interest-rate cap is the maximum rate of interest the annuity will earn. If the index gained 10% and the cap rate was 6%, the gain in the annuity would be 6%.

Index performance generally does not include dividends. Participation rates, cap rates, and other fees are set by the insurance company. Some companies may change these provisions either annually or at the start of each contract term, which could affect the investment return.

Measuring Index Performance

In addition to participation rates, cap rates, and spread/margin/asset fees, the way in which index performance is measured may vary, depending on the contract, and could make a significant difference in the growth of the annuity.

Annual reset (ratchet). Compares the change in the index from the beginning to the end of each year, “locking in” an investor's gain. Any declines are ignored.

Point-to-point. Compares the change in the index at two discrete points in time, such as the beginning and ending dates of the contract term. Because this method relies on a single point in time (i.e., the last day of the contract), a large decline in the index prior to that point may decrease the interest.

High water mark. Compares the index value at the beginning of the contract to its highest value at various points during the contract (often anniversaries of the purchase date). This method may lead to a higher interest rate than other indexing methods. However, because interest is not credited until the end of the term, there may be no index-linked gain if the annuity is surrendered early.

Most annuities have surrender charges that are assessed if the contract owner surrenders the annuity during the early years of the contract. However, some indexed annuities allow withdrawals of up to 10% per year without surrender charges. Of course, any withdrawals will reduce the principal, and withdrawals before the end of an index period will receive no interest for that period. Early withdrawals prior to age 59½ may be subject to a 10% federal income tax penalty.

Indexed annuities are complex products with rules, restrictions, and expenses, and they are not appropriate for every investor. Any guarantees are contingent on the financial strength and claims-paying ability of the issuing insurance company. Depending on the guarantees, it may be possible to lose money with this type of investment. Be sure to review the contract carefully before deciding whether to invest.

For more information or to schedule an appointment with a Member Wealth Management Representative, please contact Carter at 434-964-2001 ext 3074.


The Standard & Poor's 500 index is an unmanaged group of securities that is widely recognized as representative of the U.S. stock market in general. You cannot invest directly in an unmanaged index and do not actually own any shares of an index.

This information 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 Broadridge Advisor Solutions.  © 2017 Broadridge Investor Communication Solutions, Inc.


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.


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