Winter Extra Credit 2019

UVA Community Credit Union

Winter 2019 - In This Issue

Our Community: A Letter from our President/CEO

Announcements: Tax Time, Holiday Schedule and More

Did You Know? Save Big with an Adjustable Rate Mortgage

How-to Tips: Seven Classic Investing Quotes 

Fall apples

Our Community

 

To Our Member-Owners

At UVA Community Credit Union we work hard to ensure that all members of the communities we serve have the financial resources to realize their goals in life. We offer a variety of products and services, from mortgages and lines of credit and from credit cards to mobile banking, because we know that everyone approaches these goals from a different direction. In short, we are here to give you the financial tools you need to BE YOU! 

Expanding Our Reach and Area of Member Service
In 2018 we made significant advances in delivering additional online features. For example, becoming a member is now easier than ever with our online membership application. We are also excited to announce that we have expanded the amount of commercial services that are available online, because not all businesses operate during banking hours.

While we continue to grow our virtual space, we also are growing our physical locations. We continued to maintain our momentum by opening the new Culpeper Meadowbrook branch in June 2018. We are thrilled to have this new branch open to serve new and existing members. The new Culpeper Meadowbrook branch is a full-service branch that caters to personal and business accounts and offers the Credit Union’s full menu of products and online services, including home equity, mortgages, personal, and business Loans. The branch is served by a mortgage loan officer, business service experts, and a financial advisor.

Early in 2018 we were pleased to welcome members of Charlottesville Postal Federal Credit Union to the UVA Community Credit Union family.

Downtown Crozet Branch Coming Soon!
The Culpeper Meadowbrook branch marked our nineteenth branch opening, and we’re still going strong. We were fortunate to secure a second location in the Crozet area. The new Downtown Crozet branch is designed to better serve the members that live and work in the Crozet area and is expected to open in early 2019. In addition to a more personal member experience, the branch will offer innovative technology with interactive touch devices to deliver educational and instructional videos. This technology will serve as another tool for offering high-tech and high-touch solutions to members in the Crozet community.

As Our Reach Grows, So Does Our Involvement in the Community
The holiday season is the perfect opportunity to unite with the community and celebrate the festive time of year together. Throughout the years, the Credit Union has celebrated with the community by supporting Charlottesville’s annual Grand Illumination and WAHU Stockings projects. Both of these holiday traditions allow the Credit Union not just to give back to the community, but also to celebrate alongside our community and you, our fellow members. In 2018 we were excited to expand these types of celebrations to other areas that we serve. We were honored to be the Title Sponsor of the 32 Annual Warrenton Christmas Parade and foresee a long-lasting partnership celebrating a time-honored tradition within the community. In addition, the Credit Union also sponsored Fill a Stocking in Fauquier and Culpeper Counties for the second year. We look forward to developing more deeply rooted relationships like these throughout the coming years in these counties.

Building Relationships
UVA Community Credit Union is proud of the relationships we build with our members and throughout the communities we serve. In 2018 we were fortunate to grow the relationship we have with UVA Athletics and are also excited to be the current Title Sponsor for UVA Women’s Basketball. This growing affiliation has allowed us to distinguish ourselves among local residents and demonstrates the teamwork that takes place on and off the field to improve the financial well-being of our community.

­­In the Community
In recent years UVA Community Credit Union has received a variety of community accolades. Members of the Charlottesville community voted us the Best Financial Institution and Best Mortgage Company in the Daily Progress Readers’ Choice poll, Best Bank and Best Mortgage Lender in C-ville Weekly’s Best of C-ville, and Favorite Bank/Credit Union in the Charlottesville Family Magazine. It’s exceptional for a financial institution to win all three categories. We are humbled and filled with gratitude for these honors that are bestowed upon us – thank you.

As we close the books on 2018, I would like to take a moment to express my appreciation for our staff and our volunteer Board of Directors. Their dedication to the ideals of the Credit Union is a source of great inspiration and their stewardship ensures that we have a bright future ahead.

I would also like to thank our members. It is because of your commitment to the Credit Union that we are able to strengthen the communities in which we all live and work. Thank you for being a part of our community. We hope to be the place where you can find the financial resources to BE YOU.




Alison DeTuncq
President/CEO


Announcements

 

 

 

 

 

 

 

 

 

Free Tax Preparation at UVA Community Credit Union

During tax season, IRS-trained UVA Community Credit Union employees assist the community by preparing and electronically filing basic federal and Virginia state returns free of charge through the federal Volunteer Income Tax Assistance (VITA) program and our participation in the Cville Tax Aid Coalition. Tax returns help individuals and families who earn $55,000 or less. In 2018 our six tax sites prepared more than 530 tax returns and generated over a million dollars in economic stimulus in the greater Charlottesville area.

Free tax preparation for eligible taxpayers will be provided from January 29 – April 15, 2019, by appointment only, at six of our credit union branches:

•             East Jefferson
•             Fluvanna
•             Greene
•             Louisa
•             Nellysford
•             Zion Crossroads

 


2019 Holiday Schedule

The Credit Union will be closed on the following days:

New Year's Day                                Tuesday, January 1
Martin Luther King, Jr. Day               Monday, January 21
Presidents' Day                                 Monday, February 18
Memorial Day                                    Monday, May 27
Independence Day                            Thursday, July 4
Labor Day                                          Monday, September 2
Columbus Day                                   Monday, October 14
Veterans Day                                     Monday, November 11
Thanksgiving Day                              Thursday, November 28
Christmas Day                                   Wednesday, December 25


 

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.

 

 

Annual privacy policy notice:

Federal law requires us to tell you how we collect, share, and protect your personal information. Our privacy policy has not changed and you may review it and our practices regarding your personal information at uvacreditunion.org or call us at 434-964-2001 or 888-887-9136 if you would like a free copy mailed to you.


 Did You Know?

 

 

 

 

 

 

 

 

 

 

Save Big with an Adjustable Rate Mortgage

Jump into the new year with an outstanding mortgage rate! Whether you are in the market to purchase a home or have been considering refinancing your existing home, now is the perfect time to take advantage of a significantly low adjustable rate mortgage. UVA Community Credit Union is offering a low fixed rate of 3.75% (4.77% APR) for the first five years or 3.875% (4.658% APR) for the first seven years. Rates may vary after that time period. Apply online or talk to our lending experts by calling 888-578-4747.

APR is defined as the annual percentage rate. Rates are based on a 30 year 5/1 and 7/1 ARM Conventional loan with a 20% down payment. With ARM loans, rates may increase after consummation. Actual rates may vary based on eligibility and market conditions. All loans are subject to income verification and credit approval. Mortgage services provided by Member Options, LLC NMLS #194038 (nmlsconsumeraccess.org) a wholly owned subsidiary of UVA Community Credit Union.


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How-To Tips Provided by Member Wealth Management

 

 

Seven Classic Investing Quotes

Investing can be daunting, whether you are experienced or a beginner. Even if you feel confident about your investing strategy, it can be easy to lose focus or make decisions based on emotion. Here are seven quotes from successful investors, economists, and other insightful thinkers that may help provide perspective and focus for your own investing strategy.

"The individual investor should act consistently as an investor and not as a speculator.1"
— Benjamin Graham, investor, author, and teacher known as the “father of value investing.” A speculator takes large risks in the hopes of making large quick gains. An investor focuses on risk-appropriate strategies to pursue long-term goals.

"Don’t try to buy at the bottom and sell at the top. It can’t be done except by liars.2"
— Bernard Baruch, investor and presidential adviser. Trying to time the market may be tempting, but it rarely works, because no one really knows when the market has reached its top or bottom.

"If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.3"
— Warren Buffett, investor, businessman, and philanthropist. Buffett, a former student of Benjamin Graham, is perhaps the most famous proponent of patient “buy and hold” investing.

"Stay the course.... Changing your strategy at the wrong time can be the single most devastating mistake you can make as an investor.4"
— John Bogle, investor and mutual fund industry pioneer. A sound investment strategy should be designed to carry you through market ups and downs.

"Know what you own, and know why you own it.5"
— Peter Lynch, investment manager, author, and philanthropist. Your portfolio should be assembled with an eye toward meeting your long-term financial goals, not by rushing to own the “flavor of the month.”

"Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.6"
— Paul Samuelson, 1970 Nobel laureate in economic sciences. Investors often make poor decisions when they are driven by adrenalin; patience is more likely to produce positive results in the long run.

"Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.7"
— Albert Einstein, 1921 Nobel laureate in physics. Even though this and similar quotes are often attributed to Einstein, it’s uncertain whether he ever said them. Either way, it’s true that one of the most powerful tools for investors is reinvesting interest, dividends, and capital gains.

 

 

 

 

 

 

 


There is no guarantee that any investing strategy will be successful. All investments are subject to market fluctuation, risk, and loss of principal. When sold, they may be worth more or less than their original cost. Investments seeking to achieve higher returns also involve a higher degree of risk.

1) Thinkexist.com, 2016
2, 6) BrainyQuote, 2018
3, 5, 7) Goodreads, 2018
4) CNBC, June 1, 2017

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.

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

CRN201902-208336

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