Winter 2014 - Knoxville TVA Employees Credit Union

Winter 2014
tvacreditunion.com
Members in the
Farragut area can
hardly wait!
The new Turkey Creek Branch is ready!
All is going well and the new Branch will open its doors for
members on Tuesday, February 18 at 10 a.m.
Since this convenient
Branch is located in
one of the area’s most
popular shopping areas,
it is the first Branch to
offer special retail hours:
WINTER 2014
New Online Banking
offers members MORE!
Frequently Asked
Questions about
the new system:
Why is the Credit Union
making this change? We
are increasing security on
your Online Banking system
in order to meet your needs
with less downtime and new
features.
Can I keep my current User ID? Yes, you can use the current User ID
unless you use your account number as your User ID. As of February 11,
the User ID can no longer be all numbers. If you use your account number
or another number, you will need to change it to include letters.
Monday - Friday:
10 a.m. to 8 p.m.
Saturday: 9 a.m. to 1 p.m. (drive-thru only)
The new Branch is at 11490 Parkside Drive, next to JCPenney
and across from Gander Mountain and Best Buy.
You are invited to the Open House on
Friday, March 7. Drop by between 10 a.m. and 6 p.m. for
refreshments, giveaways (while supplies last) and to register for
door prizes. The Ribbon Cutting Ceremony is at 10:30 a.m.
Some of the convenient services you may enjoy at the new
Turkey Creek Branch:
Drive-thru ATM that accepts deposits 24/7.
Real Estate Lending / Mortgage Specialist on-site.
FREE Coin Counter for members.
Even a bike rack! The Branch is located right on the much
used greenway link from Herron Road to Parkside Drive.
CREDIT!
CREDIT!
CREDIT!
CREDIT!
CREDIT!
CREDIT!
CREDIT!
Don’t
FORGET!
Say “CREDIT”
every time you
use your Credit
Union VISA
DEBIT/CHECK
card to get
your UChoose
Reward
points!!
What will happen the first time I log in after the upgrade?
You must log in as a NEW USER the first time you log into Online Banking
ON or AFTER February 11. Enter your account number in the “Account”
box, the last four digits
of your Social Security
LOG IN as a NEW USER!
Number OR your D.I.A.L.
PIN in the “PIN” box, and then follow the prompts on the screen. You will
be prompted to change your password.
Will it look the same? It will have a similar layout with new features.
Will this impact the Mobile App?
Yes, if you are a MOBILE USER, please download the new APP on or after
February 11. Search for “TVA Credit Union” in your APP store.
Will Mobile Check
Deposit change? No, it
will remain the same.
DOWNLOAD the new APP!
Will my Bill Pay items and automatic transfers remain the same? Yes,
they should, but check them once the change has occurred to verify that
they are set up the way you like them. Bill Pay will experience downtime
during the conversion.
Who can help me with problems or questions? If you need
more information or assistance, please visit any Branch,
call the Member Service Center at (865) 544-5400 or
(800) 467-5427, visit tvacreditunion.com, or email
[email protected].
?
The Member Service Center is ready to take your calls and
answer your questions. Open Monday - Friday 7 a.m. to 7 p.m.
and Saturday, 8:30 a.m. to 12:30 p.m. for your convenience.
tvacreditunion.com
What are your 2014
Financial Resolutions?
Don’t worry if you don’t have any yet! It’s not too late to make some plans
and promises for 2014. At the end of the year, you can look back to see
how much better you are doing, financially speaking! Here are a half
dozen GREAT ways to get started with your 2014 Financial Resolutions.
1
2
3
4
5
6
If you happen to receive a cash windfall
sometime this year, consider this... Use 1/3 for the
past, 1/3 for the present, and 1/3 for the future. Let’s say that your
uncle surprises you with $250 for your birthday. Wait, let’s make it $300
so it’s divisible by three. Use $100 to reduce your debt by making a
principle-only payment on a loan. Use $100 for the here and now and
buy those boots you’ve been wanting. Since they are now on sale, you
can use the rest for movie tickets... but you might not have enough for
popcorn. The last $100? Into your savings account for the future.
Keep an emergency stash. This is important because this
will cover all those unexpected things that keep pulling you off your
budget. For example, unplanned home repairs, an appliance that dies
out of warranty, or a set of new tires that you thought were still 10,000
miles away. How much should you have in this emergency stash? Three
times your monthly expenses. Add up everything you spend over three
months and that’s about what you need. The best place to put it? In a
Member-Managed Funds Account--the more you save, the more you
earn! And yes, most people don’t have that much money available. If
you don’t, just set up the account and start making regular deposits
until you get there!
Pay yourself FIRST. Experts recommend you save at least
six percent of every paycheck. So, every time you get paid, deposit
6% into savings and investments. Can you save MORE than that? Even
better!
Put yourself on a budget. If you really want to reach your
financial goals and keep your financial resolutions in place, a budget
is the first step. Visit tvacreditunion.com for some guidelines to set
this up. Go to “Helpful Links” and click on “Balance Financial Fitness”
in QUICK LINKS. Then click on “Financial Planning”. The cash flow and
tracking worksheets should help you get a handle on your finances and
move toward a balanced budget.
Put enough in your Health Savings Account to
cover your deductible. Do you have a very high deductible
health insurance policy? By the end of this year, try to save enough in
this account so that your deductible is covered. Then next year keep
adding to it so you can pay any medical expenses out of it and still have
your deductible amount in the account. The good news? The dividend
on this account went up at the first of this year! It now earns 1.25% APY.
See if you can
refinance your
house and save
money EVERY
month. Your Credit Union
will happily take a look at
your current situation and see
if refinancing will be in your
best interest. If it is, do it! Then
deposit the difference into a
savings account! It will feel the
same but you’ll be SAVING!
How is your
financial fitness
level?
Join us... for the
2014 Annual Meeting
7 P.M. TUESDAY, MARCH 25, 2014
TENNESSEE THEATRE
604 S. Gay Street • Knoxville
Complimentary Parking in State Street Garage
• Giveaways! (while quantities last) • Door Prizes!
Nominees for Credit Union
2014 Board of Directors
The following members have been nominated to
serve three-year terms on the Credit Union Board of
Directors:
BILL BONHAM
Retired (TVA)
Credit Union member since 1963
Credit Union Board of Directors: 2007-2012
(Secretary 2007-2011);
Credit Union Supervisory Committee: 2013;
Tennessee Credit Union Services, Inc. Board of
Directors: 2005-06;
Power 1 Credit Union (Florida) Board of Directors:
1990-96.
JAMES O. FORD
Retired (TVA)
Credit Union member since 1979
Credit Union Board of Directors: 1995-2000, 2006 2008 and 2009-2011 (Assistant Treasurer 1995 and
1998, Secretary 1999, Assistant Secretary 2000, Vice
Chairman 2006 and 2007, Chairman 2008, 20092011);
Tennessee Credit Union Services, Inc. Board of
Directors: 2001-2005 (Chairman 2005);
Credit Union Supervisory Committee 1994, 2012-2013;
Credit Committee 1992-1993.
JAMIE E. KEITH
Retired (TVA)
Credit Union member since 1976
Credit Union Supervisory Committee: 2013
In accordance with the Bylaws, the period of filing nominations
and petitions for vacancies on the Credit Union’s Board of Directors
has expired. However, if there is good cause, the Board of Directors
may extend the period for filing petitions. If there is no cause
for extending the petition period and since only one person per
position was nominated, the named individuals will begin serving
in their respective positions after the Annual Meeting on Tuesday,
March 25, 2014.
STATISTICS . . . December 31, 2013
Assets . . . $1,261,822,380
Savings . $1,000,257,159
Loans . . . $1,111,668,271
Members . . . . . . . 135,988
Everything you need to know about
“Un claim ed Property”
Each year billions of dollars become lost and
unclaimed when financial institutions lose track of
owners of the funds. Unclaimed property consists
of inactive funds and other personal assets that are considered
abandoned when a financial institution cannot locate the owner
during the dormancy period.
The Tennessee Unclaimed Property Act requires banks, credit unions
and many other businesses to review their records annually to
determine whether they hold any funds that have been unclaimed for
five years.
Unclaimed property consists of checking accounts, share certificates,
deposits, gift certificates, paid-up life insurance policies, unpaid wages,
commissions, un-cashed checks, death benefits, dividends, insurance payments,
money orders, refunds, savings accounts, stocks, and proceeds of safe deposit
box auctions among others. If the financial institution cannot locate the owner,
funds will be classified as unclaimed property and, by law, must be forwarded to
the Tennessee Department of Treasury Unclaimed Property.
To prevent your property from becoming unclaimed, please do the following:
Keep your accounts active. Accounts with no activity for five years may be
assessed a $25.00 unclaimed property fee.
Keep an accurate record of all financial transactions.
Notify the Credit Union when your address changes.
Make a deposit or withdrawal on all of your accounts at least yearly.
Cash all checks you receive.
Contact the company if stock dividends are no longer received.
Inform a family member, attorney, or trusted friend of the whereabouts of
personal financial records.
Visit the Tennessee Department of Treasury official Unclaimed Property
website at www.claimittn.gov to determine if the state is holding any
unclaimed property in your name.
IRA limits
Maybe this chart will save you some time:
QUESTIONS?
Contact the IRA department.
Type of Investment
2013
2014
Traditional under 50
$5,500
$5,500
Traditional over 50
$6,500
$6,500
Roth under 50
$5,500
$5,500
Roth over 50
$6,500
$6,500
Coverdell
$2,000$2,000
HSA-Individual under 55
$3,250
$3,300
HSA -Individual over 55
$4,250
$4,300
HSA-Family under 55
$6,450
$6,550
HSA-Family over 55
$7,450
$7,550
Sepp
Traveling?
Let us know before you go so your credit card and
debit card service will be uninterrupted.
$51,000$52,000
Make sure you
get every penny
you deserve
with TurboTax®
Online(SM)
April 15 is coming up FAST!
Start your return today, by
visiting tvacreditunion.com
and clicking on “Helpful Links”.
You will find TurboTax in the
yellow box titled “Quick Links”.
TurboTax makes it
EASY to file your
taxes!
TurboTax and TurboTax Online, among others, are registered trademarks
and/or service marks of Intuit Inc. in the United States and other countries.
Special Days...
•HSA (Health Savings Account) RATE CHANGE as of
JANUARY 1. It is now up to 1.25% APY.
•February is American Heart Month--a great month to
schedule a check-up and start exercising more to take
better care of your heart! Check with your doctor first!
•Valentine’s Day is February 14! Don’t forget to mail
those cards!
•Credit Union offices will be CLOSED Monday,
February 17 for Presidents’ Day.
•The new TURKEY CREEK Branch opens on Tuesday,
February 18.
• You are invited to the Open House at the Turkey Creek
Branch on Friday, March 7 between 10 a.m. and 6 p.m.
•Daylight Saving Time begins on Sunday, March 9.
Spring ahead!
• You are invited to attend the 2014 Annual Meeting on
Tuesday, March 25.
•You’ve got until Tuesday, April 15 to file your 2013
income tax and to make 2013 IRA deposits.
•Credit Union offices will be CLOSED Friday, April 18 for
Good Friday. Happy Easter!
•As of May 1, 2014, the Allpoint ATM service will
no longer be accessible to members for fee-free
transactions. The Easy Street ATM network will
continue to be accessible to members for feefree transactions — check your mobile app or
tvacreditunion.com for locations.
ON THE
MOVE?
Moved? Planning a
move? New email
address?
Please remember to
contact us so we can
stay in touch!
Helping members
grow financially
since 1934.
Knoxville Branches
BEARDEN 4611 Kingston Pike / 37919
DOWNTOWN KNOXVILLE 301 Wall Ave. / 37902
HALLS 7459 Maynardville Pike / 37938
HOLSTON Holston Center / 4118 Asheville Hwy / 37914
LOVELL HEIGHTS DRIVE-THRU 10460 Kingston Pike / 37922
NORTH KNOXVILLE 1316 Wilson Rd. / 37912
NORTHEAST KNOXVILLE 4520 Greenway Dr. / 37918
SOUTH KNOXVILLE 7210 Chapman Hwy. / 37920
TURKEY CREEK 11490 Parkside Drive / Farragut 37934
WEST KNOXVILLE 102 N. Seven Oaks Dr. / 37922
Tell your friends and
relatives to JOIN US NOW
for unsurpassed member
service!
Knoxville TVA Employees
Credit Union
P. O. Box 15994
Knoxville, TN 37901
Area Branches
ALCOA 1113 Hunters Crossing Dr. / 37701
JEFFERSON CITY 662 E. Broadway Blvd. / 37760
JOHNSON CITY 2004 N. Roan St. / 37601
KINGSPORT 2518 East Stone Dr. / 37660
LENOIR CITY 455 Market Dr. / 37771
MORRISTOWN EAST 3101 Miller’s Point Dr. / 37813
MORRISTOWN WEST 3955 W. Andrew Johnson Hwy. / 37814
ROANE COUNTY 1916 Roane State Hwy. / Harriman 37748
SEVIERVILLE 1037 Middle Creek Rd. / Sevierville 37862
PRSRT STD
U.S. POSTAGE
PAID
PERMIT NO. 309
Knoxville, TN
Knoxville Area: (865) 544-5400 • Morristown: (423) 581-0981
Kingsport: (423) 246-7511 • Johnson City: (423) 794-5100
Everywhere: (800) 467-5427
tvacreditunion.com
Your savings federally insured to at least $250,000
and backed by the full faith and credit of the
United States Government
NCUA
National Credit Union Administration, a U.S. Government Agency
APY=Annual Percentage Yield
APR=Annual Percentage Rate.
EQUAL HOUSING
OPPORTUNITY
Loan rates are based on Credit Union
Managed Credit Program.
Home Equity Loans are available to qualifying members and are secured by owneroccupied real estate in the State of Tennessee. Ask for details.
Thank you, members for your loyalty.
It’s been 80 great years (so far)!
For more information about
a Home Equity Line-of Credit
Loan, contact any of our
Real Estate Lending Officers.
CELEBRATING
80 YEARS IN
EAST TENNESSEE!
We love our Credit Union!
Routing Number: 264279567
If you want to take some
time to pay it off, set up an
automatic transfer each
month or as often as you like.
Need help? Call us or stop by
any branch.
Pay your balance off each month OR take some time and pay the
minimum. To make a payment, simply make a transfer to your account
over the phone or through Online Banking.
Instant access to funds—just use the credit card linked to your Home
Equity Line-of-Credit.
Now, you can link our special VISA
Credit Card to your Home Equity
Line-of-Credit. The advantages?
Here’s
something
new!