Spring 2016 Newsletter

UVA Community Credit Union
I Luv My Credit Union

Spring 2016 - In This Issue

Our Community: Merger Complete!

Announcements: Annual Meeting

Did You Know? Life Changes

How-to Tips: The Long and Winding Road

Merger Complete

Our Community

Merger Complete with Northern Piedmont Federal Credit Union

On February 1, UVA Community Credit Union officially merged with the Northern Piedmont Federal Credit Union and began integrating its members' accounts, a process completed on April 1.

A number of regulatory agencies reviewed the project including the Virginia State Corporation Commission, which approved the merger and a charter expansion to include the counties of Culpeper, Fauquier, and Rappahannock. The merger was also approved by the boards of directors of both credit unions.

The credit union is stronger than ever. It now has assets of approximately $745 million and membership of more than 70,000. The two former Northern Piedmont Federal Credit Union branches, Blackwell Road Branch and Vint Hill, both in Warrenton, are open under the UVA Community Credit Union banner to serve members in the area.

In addition, our new members have access to the UVA Community Credit Union's robust online platform, which includes mobile banking apps with check deposit for smartphones and tablets, and a wide range of investment services.

"As our name indicates, the credit union is a community‐based organization," says Alison DeTuncq, credit union president/CEO. "We are dedicated to helping our members realize their financial goals and thus strengthening the communities in which they live, work, attend school, and do business."

Our field of membership is now open to those who live, work, or own a business headquartered in in the city of Charlottesville, and in Albemarle, Culpeper, Fauquier, Fluvanna, Greene, Louisa, Madison, Nelson, Orange, and Rappahannock counties. We look forward to deepening our relationship with our expanded membership and counties.

Annual Meeting


Doubletree Hotel–New Location for our Annual Membership Meeting.

2015 was an exciting year for the credit union and all members are invited to attend the annual meeting in May at a new location:

New location: Doubletree Hotel, 990 Hilton Heights Road by Sam's Club

Date/time: May 25, 6:00 pm

Attending the annual meeting is a great way to keep track of your credit union's performance. Alison DeTuncq, President/CEO, and Jeffrey Moscicki, Chairman of our volunteer Board of Directors, will report on our finances and membership, new products and services, and convey plans for the coming year. Attendees will have the opportunity to elect board members and congratulate the recipients of our annual high school scholarship program.


Please join us! Be sure to arrive early to register for door prizes and mingle with fellow members. After the business meeting, we'll hold our door prize drawing and serve light refreshments.

We hope to see you there!


Internation Credit Union Day

Did You Know?

Visit Your Credit Union When Life Changes.

Life changes require more than an emotional adjustment--they require a visit to UVA Community Credit Union to guide you through financial decisions.

  • Decide if you're going to pool your assets or maintain separate share draft/checking or savings accounts.
  • See your credit union representative for help once you've made that decision and to open these accounts.
  • If you have a credit card issued by UVA Community Credit Union, notify us of your name change.
  • Update beneficiaries on your IRAs (individual retirement accounts) and other investments.


  • We can help you examine financial accounts and determine where you stand financially.
  • Visit the credit union to open and fund a share draft/checking and savings account in your own name. Get a credit card in your own name and manage it carefully.

Death of a spouse or parent

  • Inform all creditors, including UVA Community Credit Union, of the death.
  • Cancel any automatic or online bill paying services unless you'll continue to use them.

Expecting a new baby (birth or adoption)

  • The financial planners at UVA Community Credit Union can help you look at what you owe and what you make, and create a budget.

Copyright 2014 Credit Union National Association Inc. All other rights reserved.


How-To Tips provided by Member Wealth Management

The title of the Beatles' song "The Long and Winding Road" could apply to the journey toward a comfortable retirement.

For those who have the foresight to start preparing in their 20s, the journey could take 40 years or more. Even those who procrastinate might have 20 or 30 years to prepare.

No matter how long the road, there are sure to be plenty of winding turns along the way. A survey conducted after the 2008–09 recession found that nine out of 10 people aged 50 to 70 had experienced at least one "derailer" that knocked them off the track to retirement. Although the broader economy played a part, many challenges were more personal, such as starting late, balancing college and retirement savings, and experiencing a traumatic event.*

Where Do You Turn for Advice?


A recent industry study found that 17% of retirement plan participants did not seek any retirement advice at all. The most common source of advice - cited by 29% of plan participants - was the official information provided by their retirement plan providers.** This may be a good place to start, but such information is typically broad and impersonal, aimed at the group rather than tailored to individual circumstances.

There is also a seemingly endless stream of information available online. Some of it can be useful, too, but you have to be careful when listening to self-appointed "experts" who may or may not have the appropriate experience for the opinions they express. And online information is also aimed at the crowd.

So where do people turn for more personal advice? The study revealed a clear generational divide. Younger Americans tend to ask family, friends, and colleagues, but older Americans who are closer to retirement or already retired are more likely to work with a financial professional.

On one level, it makes sense that younger people might turn to those they already trust rather than establish a new relationship with a financial professional. But considering the long road ahead, it might be just as important to take advantage of professional insight earlier in one's career. In a survey of baby boomers, 86% who worked with a financial advisor said they were better prepared for retirement because of the help they received.*** Even if retirement is still in the distance, why not take a tip from the boomers and establish a solid, well-considered foundation now, so that you can progress more confidently toward your long-term goals? If you're closer to retirement or already there, you may have an even more immediate need for guidance.


Of course, there is no assurance that working with a financial professional will improve investment results. But by focusing on your overall objectives, a professional can provide education, identify strategies for taking control of many financial situations, and help you consider options that could have a substantial effect on your long-term financial situation.


* BusinessInsider.com, May 16, 2013 (most current data available)
** ThinkAdvisor.com, July 23, 2015
*** Insured Retirement Institute, April 13, 2015

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.


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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