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Summer Extra Credit 2019

UVA Community Credit Union

Our Community










Annual Meeting Highlights 

At the Credit Union you can rest assured knowing your money works harder for YOU and for ALL. We are committed to giving back to our members and our community. During this year’s annual meeting on May 22 our Chairman, Jeffrey Moscicki, along with our President/CEO, Alison DeTuncq, with the enthusiastic support of the members in attendance, presented its annual scholarship of $1,500 to 18 outstanding high school seniors in a combination of public high schools, private schools, alternate schools, and students who are homeschooled in the counties and cities we serve. Scholarship dollars awarded totaled $27,000. “We consider these scholarships an investment in the future of these young people and in their communities,” said Jeffrey Moscicki, Chairman of the Credit Union Board of Directors.

The meeting also focused on our 2019 initiatives and reviewed highlights of 2018 including how members in the Charlottesville area voted us the Best Financial Institution and Best Bank in the annual Daily Progress Readers’ Choice issue; Best Bank and Best Mortgage Lender in C-ville’s Best of C-ville edition; and Favorite Bank/Credit Union in the Charlottesville Family Favorite issue. We thank you very much for the vote of confidence.

Other highlights from the meeting included:

  • Tax Prep Services: During the 2018 tax season, our IRS-certified employees prepared a total of 594 returns, generating an economic stimulus of over 1.1 million dollars for our community.
  • Online innovations: In 2018 we expanded the membership process online, our mobile app usage continues to increase and is being used approximately 36 thousand times per month, an upcoming version of the app will feature more powerful mobile deposit and person-to-person transfer tools. Online features for business service members will also see concerted enhancements including a more robust mobile check deposit system.
  • New Branch: Our new Downtown Crozet Branch opened in March 2019!
  • NCAA 2019 Basketball Trophy: Our strong community partnership with UVA Athletics allowed everyone at the meeting to celebrate the historic achievement of UVA men’s basketball team earning the first National Championship title. Members in attendance were able to have their photograph taken with the NCAA 2019 Basketball Championship trophy.

During the meeting, names of the members re-elected to the board were also announced. The members reelected are: Jeff Moscicki, Ken Eades, Lisa Heuchert, Marie Melton, Barry Jones, and Ben McCartney. Following the meeting, members enjoyed light refreshments, conversation, and door prizes.

Thank you to the following local businesses for their support of our Annual Meeting: The Little Gym, Virginia Discovery Museum, Music Today, Wintergreen Resort, H&R Custodial Services, Putt Putt Miniature Golf, Albemarle Magazine, Jim Price Automotive, Ceiling and Floor Shop, Miller’s Office Products, Sprint Pavilion, Member Wealth Management, King Family Vineyards, ACAC Fitness and Wellness, American Shakespeare Center, VA Sports Properties, and Colliers International.









Music Brought To You By - Summer Concert Sponsor in Culpeper and Orange

UVA Community Credit Union is more than a financial institution. We are proud of the relationships we build with our members and in the communities we serve, which is why we are excited to once again be the stage sponsor of the 3rd Thursday Summer Concert Series in Culpeper. Join us for the final concerts of the summer with “Souled Out” on July 18 and “The Reflex” on August 15.

You can also join us this summer during the Orange Downtown Alliance Summer Main Street Music Series. The fun kicked off on June 15 with Ribs & Brews Fest, and continues with Music in the Park on July 20 and August 17.

We are excited to celebrate the summer with you!

 Did You Know?








Mortgage Rates are Dropping!

Mortgage rates are dropping and now is the perfect time to purchase or refinance a home. If you have been thinking about homeownership, speak with one of our mortgage experts to learn more about:

  • purchasing or refinancing
  • fixed or adjustable rate loans
  • flexible down payment options
  • competitive rates
  • diverse product offerings -- conventional, VA, Jumbo, land loans, primary residence, second homes, and investment properties
  • fast, free pre-qualifications
  • work with local companies from application to closing
  • homebuyer seminars to answer questions and help you prepare

When experience counts, we make your dreams our goals!


How-To Tips Provided by Member Wealth Management



Retirement Planning: How Secure is Social Security?

You may have heard that a looming Social Security shortfall is threatening to affect future benefits. If you’re retired or close to retiring, then you probably have nothing to worry about — your Social Security benefits will likely be paid to you in the amount you’ve planned on. But what if your retirement is still many years away?

There are good reasons for concern, but Social Security is not likely to collapse entirely. Here is a closer look at how the program is structured and an update on its financial outlook.

How It Works

Social Security is a pay-as-you-go system, with today’s workers paying the benefits for today’s retirees. The first $132,900 (in 2019) of an individual’s annual wages is subject to the Social Security payroll tax, with half paid by the employee and half by the employer (self-employed individuals pay all of it). Payroll taxes collected are put into the Social Security trust funds and invested in securities guaranteed by the federal government. The Old-Age and Survivors Insurance (OASI) trust fund is then used to pay current benefits.

Demographic Pressures
Demographic changes are causing structural financial challenges for Social Security — namely, life expectancy is increasing and the birth rate is decreasing. Over time, fewer workers will have to support more retirees.

Social Security is already paying out more than it takes in. But by drawing on the OASI trust fund, Social Security should be able to pay 100% of scheduled benefits until fund reserves are depleted in 2035. Even then, payroll tax revenue alone should be sufficient to pay about 80% of scheduled benefits. This means if no changes are made by 2035, beneficiaries may receive a benefit that is less than they expected.1

Possible Fixes
The Social Security Administration continues to urge Congress to address the projected shortfall sooner rather than later. While no one can say for sure what will happen (and the political process is sure to be contentious), here are some solutions that have been proposed to help keep Social Security solvent for many years to come.2

•Raise the retirement age beyond age 67
•Raise the current payroll tax
•Raise the current ceiling on wages currently subject to the payroll tax
•Reduce future benefits
•Change the benefit formula that is used to calculate benefits
•Change how cost-of-living adjustments are calculated
•Allow individuals to invest some of their current Social Security taxes in “personal retirement accounts”

What's at Stake?

Although you probably won’t depend on Social Security to survive, the benefits you receive could amount to a meaningful percentage of your retirement income. Your retirement benefit is based on the average of your highest 35 years of earnings, so higher lifetime earnings result in higher benefits. For comparison purposes, the maximum monthly benefit payable to a high earner who retires in 2019 is $2,861, almost double the average retired worker’s benefit of $1,461.

No matter what the future holds for Social Security, your financial future is still in your hands. Focus on saving as much for retirement as possible, and consider various income scenarios when planning for retirement.

It’s also important to understand what you can expect to receive from Social Security under current law. You can find this information on your Social Security Statement, which can be accessed online when you sign up for a my Social Security account on If you’re not registered for an online account and are not yet receiving benefits, you should receive a statement in the mail every year starting at age 60.

1) 2019 Social Security Trustees Report
2) Social Security Administration, 2018

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

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 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. © 2018 Broadridge Investor Communication Solutions, Inc. Securities, Investment Advisory and Financial Planning services offered through qualified registered representatives of  MML Investors Services, LLC, Member SIPC (link is external): 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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