Your Credit Union Newsletter: Winter 2022

A Year to Remember

Throughout the Covid-19 pandemic, we are proud to say that we have walked step-by-step with members providing financial solutions to lower and reduce the cost of debt and deliver a safe and secure place for savings to grow. We also offered financial education and tools to make everyday financial transactions easy and gave local businesses assistance as they navigated the Paycheck Protection Program.

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Announcements

We're Hiring!

We'd love to have you on our team! Full-time employees receive health, dental, vision, paid time off starting with an 18 day accrual, and a 10% company retirement plan contribution after the first year of employment.¹

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Free Tax Preparation

During tax season, IRS-trained UVA Community Credit Union employees assist our community by preparing and electronically filing basic federal and Virginia state returns. This service is free of charge to eligible taxpayers through the federal Volunteer Income Tax Assistance (VITA) program and our participation in the Cville Tax Aid Coalition.

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Keep Us in the Know

New Name, Address, Phone Number, or Email?

There are times when it's absolutely vital that we are able to reach you. Keep us posted on changes in your life by updating your account information online, in person at any branch, or by mail to 3300 Berkmar Drive, Charlottesville, VA 22901.

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Let Your Budget Catch a Break

Make purchases and transfer high rate debt to your Credit Union Visa® Credit Card by March 31, 2022. Save with rates as low as 4.99% APR² that you can keep until the balance is paid in full! Ongoing rates of 7.74% APR - 20.46% APR²

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How To:
401(k) and IRA: A Combined Savings Strategy

Contributing to an employer-sponsored retirement plan or an IRA is a big step on the road to retirement, but contributing to both can significantly boost your retirement assets. A recent study found that, on average, individuals who owned both a 401(k) and an IRA at some point during the six-year period of the study had combined balances about 2.5 times higher than those who owned only a 401(k) or an IRA. And people who owned both types of accounts consistently over the period had even higher balances.³
 

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¹Equal Opportunity Employer

²APR = Annual Percentage Rate. Offer valid for all Platinum, Gold, Classic cardholders. Offer good on non-UVACCU loan/credit card transfers only. The promotional purchase and balance transfer rate of 4.99% APR for Platinum, 5.99% APR for Gold, and 8.99% APR for Classic are good on all purchases and balance transfers made between 01/1/2022 and 03/31/2022. Offer not valid on cash advances. After the promotional period the APR will convert to the regular rates, which as of January 1, 2022 are 7.74% APR to 12.74% APR for Platinum and 8.74% APR to 13.74% APR for Gold, based on your creditworthiness. This APR will vary with the market based on the Prime Rate. Fixed rates for Classic are currently 13.46% APR to 20.46% APR, based on your creditworthiness. Foreign transactions fees may apply. All credit cards subject to credit approval. UVA Community Credit Union reserves the right to decline any balance transfer request. Other restrictions may apply. Membership eligibility required. Minimum ongoing balance of $5 is required in a UVA Community Credit Union Share Savings Account. A one-time $5 membership fee may apply if currently not a UVA Community Credit Union member. See Credit Union for details.

³Employee Benefit Research Institute, 2020

This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek guidance from an independent tax or legal professional. 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. © 2022 Broadridge Financial Solutions, Inc.

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) 490-9041Call: (757) 490-9041.

Member Wealth Management is not a subsidiary or affiliate of MML Investors Services, LLC or its affiliated companies.

We have individuals licensed to sell insurance products in the following jurisdictions: DC, DE, GA, MD, NC, NJ, OH, RI, TX, UT, VA, WA

We have individuals registered to offer securities in the following jurisdictions: DC, DE, GA, MD, NC, NJ, OH, RI, TX, UT, VA, WA

CRN202109-253458