Possibilities, January 2011

possibilities
Published for the members of Ascend Federal Credit Union
GET FOCUSED
I N SI D E
scholarship deadline
our promise
equity promo
mortgage loans
mobile access
important notice
freedom card
file for free
60th annual meeting
jan ua ry 2 0 1 1
share draft promo
Our
Long-Time President
Bearden Succumbs to
Illness
Promise
to You
A pioneer of the credit union industry has passed.
quick readS
File for FREE!
File your taxes for free with TurboTax Federal Free Edition.
Visit ascendfcu.org.
Current Promotions
Jan. 7-Feb. 18
Easy Equity promo
Jan. 17-April 15
Share Draft promo
Upcoming Events
Shred Day • Saturday, Feb. 19 • 9-11 a.m.
Tullahoma financial center, 1611 N. Jackson St.
April 2
Join us for the 60th Annual Meeting and Election scheduled
for 1 p.m., Saturday, April 2, in the Lecture Hall at Tullahoma
High School.
Bearden saw the credit union grow from literally a one-room “branch”
located at Arnold Air Force Base to the largest federally chartered credit
union in Tennessee with 15 locations serving more than 148,000 members and 762 select employee groups.
March 1
Apply for the Ascend Federal Credit Union Scholarship by
March 1.
“She was a leader not only here but within the credit union industry as
a whole,” Ascend President and CEO Caren Gabriel said in an email to
employees Oct. 11. “Under her leadership, AEDC FCU was one of the
first credit unions to go from a single select employee group to multiple
groups, offer Share Draft accounts, IRAs, ATMs, and online account
access. The foundation for much of the success that Ascend and its
members enjoy today is due to her leadership.”
2010 Annual Report
Please note that copies of the 2010 Annual report will be available at all Ascend financial centers on March 21. A downloadable copy will also be available online at ascendfcu.org.
In 2005 the credit union created the Jimmie Bearden Leadership
Scholarship. The $2,500 scholarship is awarded annually to a graduating Tullahoma High School student who exemplifies leadership in his
or her school and community.
Apply for Ascend’s Scholarship by March 1
Attention college students and graduating high
school seniors: Log onto ascendfcu.org and apply for the
Ascend Federal Credit Union Scholarship today!
For the ninth consecutive year, Ascend is proud to offer
$1,000 non-recurring scholarships to 10 of our members.
And, for the second year in a row, we have made the application process easier and greener by conducting it completely online.
Our promise – the Ascend brand promise – is to educate and
help members become effective financial stewards.
Jimmie Bearden, former president and CEO of
AEDC Federal Credit Union (now Ascend Federal
Credit Union) in Tullahoma, Tenn., passed away
Oct. 11 following an extended illness.
Bearden started as a clerk in 1956, just five years
after the credit union was created. Four years later she was promoted to loan officer, and in 1967 she was appointed
Assistant Manager. In 1968 she became President and CEO, a title
she held until her retirement in January 2004.
Simply log onto our Web site at ascendfcu.org, move the cursor over
“Member Services,” “Youth Accounts,” then “Scholarship Program.” On
the “Scholarship Program” page, follow the link to the application.
Deadline for application materials is March 1, 2011. For complete requirements, please follow the link to the application.
Don’t wait until the last minute – apply for the Ascend Federal
Credit Union Scholarship today!
All family members of Ascend Federal Credit Union’s officials and employees are excluded from eligibility. Scholarship winners may reapply for the next academic year.
Every call you make on the toll-free hotline, every click you
make on the Web site, every employee you speak with in a
financial center – every interaction you have with Ascend is
backed up by a promise.
We promise to educate
and help members become
effective financial stewards.
What does that mean? It means every Ascend employee
promises to give you his or her undivided attention so we can
understand your situation fully before offering solutions that fit
your specific needs.
Our brand promise helps to differentiate Ascend from our
competitors. It creates a level of expected service that we
strive to achieve with every member interaction.
Thank you for the opportunity to be of service, and we look
forward to helping you recognize and raise your possibilities.
How May We Help You?
A new year has just begun, and it’s the perfect opportunity to take a moment
and assess your financial situation.
How many credit cards do you have? What rates are you paying
on those cards? What financial institution or finance company
has your auto loan? If you had a question about your mortgage
loan today, who would you call?
These are just a few of the questions you can ask yourself, and
they’re just a few of the ways Ascend can make your financial
situation better.
Start by visiting ascendfcu.org and click the Rates link. Compare
our rates on every financial product you have – credit cards, auto
loan, mortgage loan, etc. – with the competition. Where will you
get the best deal? On an Ascend auto loan, do you know you can
reduce the rate for which you qualify by being an active Freedom Card user and establishing direct deposit or payroll deduction? Do you know we offer a rewards credit card? Do you know
that E-PAY can eliminate your costs for postage, envelopes and
checks? These are very basic things Ascend can begin helping
you with today.
Maybe you need more technical assistance with some aspect
of your finances. Do you know you can get budget counseling
through our partner BALANCE and guidance on insurance and
retirement planning through MEMBERS Financial Services?
These programs are offered at absolutely no cost or obligation
to members.
Ascend has the products and services to be your resource for
all things financial. Call us at 800-342-3086, visit us online at
ascendfcu.org, or stop by your nearest financial center.
How may we help you?
•3•
possibilities • january
Refund and Then Some!
Get Financial Focus During
Ascend’s Equity Promo
It pays to have your checking
account with Ascend!
The holidays are behind you, but each trip to the mailbox is another reminder
about how you paid for them.
If you’re a homeowner who finds himself paying high interest on revolving debt like a credit card, you need to start the New Year with a fresh
perspective.
Get financial focus during Ascend’s Easy Equity
promo Jan. 7 through Feb. 18:
• Fixed rate as low as 4.75% for a 36-month term1
How would you like $25 tacked onto your tax refund?
Jan. 17-April 15, Ascend will offer a $25 incentive* when you open a new Share Draft (checking) account and have your 2010
tax refund direct-deposited to it.
• Borrow 95% of the appraised value of your home less your
first mortgage, up to $50,000
Every Ascend checking account comes with a Freedom Card, which allows you to make purchases wherever Visa debit cards are
accepted. With a Freedom Card, you avoid the finance charges associated with a credit card, and you save money by not ordering as many checks. Plus, you can use it to access more than 200 ATMs in Middle and East Tennessee with absolutely no fees.
• Another great benefit of an Easy Equity loan from Ascend
is the potential tax advantage it offers. Certain limitations
apply, so consult your tax advisor for details.
Other advantages of an Ascend checking account include no minimum balance requirements, no service charges and no percheck charges.
Apply for your Easy Equity loan at ascendfcu.org, by
calling 800-342-3086 or at any Ascend financial center.
1
All loans are subject to credit approval. The annual percentage rate (APR) you receive will be based on your credit score and the term
of the loan. You will be informed of the APR for which you qualify before you become contractually liable for the loan account. Your
monthly payment on a $10,000 loan amount would be $298.72 based on 4.75% APR and a 36-month repayment term.
Ascend is Your Mortgage
Resource
Thinking about buying a home? Maybe you already own a home, and you want to take
advantage of its value to make some renovations or make a major purchase.
Ascend offers a wide variety of mortgage and home equity products with competitive rates
and reasonable terms. Our online application process enables you to apply day or night at
your convenience. And, if you think you simply can’t afford a home right now, think again.
Ascend’s mortgage assistance programs offer solutions to help qualified members get the
home of their dreams.
Turn to Ascend for the resources you need to purchase, refinance or renovate your home.
To find out more about any mortgage or home equity product from Ascend, visit ascendfcu.org. You can also visit your nearest Ascend financial center or call 800-342-3086.
Get back a little more on your income tax by opening a new Ascend checking account today!
*The incentive will be deposited to your Share Draft account after your federal tax refund is direct deposited to the account.
TurboTax is now available at Ascend
Getting your guaranteed biggest refund with TurboTax® is now easier than ever – it’s right inside E-BRANCH
at ascendfcu.org. TurboTax works like a GPS, giving you step-by-step guidance to your maximum refund,
guaranteed. TurboTax even has help designed specifically for first-time users.
TurboTax does the hard work for you:
• Guarantees its calculations are 100% accurate, or TurboTax will pay you any IRS penalties plus interest
• Double checks your return every step of the way to help you get the deductions and credits you deserve
• Saves you time by bringing in information right from your Ascend account
Just log into E-BRANCH and click on the “My TurboTax” tab to get started.
Federal tax refund in as few as 8 days: IRS typically estimates 8-15 days for e-file with direct deposit.
Maximum Refund Guarantee – If you get a larger refund or smaller tax due from another tax preparation method, TurboTax will refund the applicable TurboTax federal and/or state purchase price paid.
TurboTax Federal Free Edition customers are entitled to payment of $14.95 and a refund of your state purchase price paid. Claims must be submitted to TurboTax within 60 days of your TurboTax filing
date and no later than 6/18/11. Optional add-on services excluded. Cannot be combined with TurboTax Satisfaction (Easy) Guarantee.
Accurate calculations guaranteed - If you pay an IRS or state penalty or interest because of a TurboTax calculations error, we'll pay you the penalty and interest.
© 2010 Intuit Inc. Intuit and TurboTax are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties' trademarks
or service marks are the property of their respective owners.
•5•
possibilities • january
A Pocket Full
of Freedom!
Get Control with
an Ascend Visa
Do you feel safe with a bunch of cash
crammed into your wallet or purse?
Notice to All Ascend
Federal Credit Union
Members
Vehicle Buying
Made Easy
Why dread shopping for your next vehicle? Ascend has
the tools to help you each step of the way.
First, do your research before you ever step onto a car
lot. Log onto ascendfcu.org and scroll over Member
Services and then Partner Resources. Click the AutoFusion link, and you’ve got access to a very powerful research tool. With AutoFusion, you can virtually
“build” your dream vehicle, get a free price quote, or
find the vehicle that’s right for you with the New Car
MatchMaker feature.
When you’ve found the car or truck that’s right for you,
go back to ascendfcu.org and check out our latest rates
and terms. Make the rate for which you qualify 0.25%
lower by authorizing payments through payroll deduction or direct deposit. And, if you’re an active Freedom
Card user, you can knock another quarter percent off
your rate!
Do you have time for a cashier to ogle
your ID to verify that check you just
wrote for a loaf of bread?
Sounds like you could use some freedom.
“In order to prevent the use of the U.S. banking system in terrorist
and other illegal activity, federal regulations require all financial institutions to obtain, verify, and record identification from all persons
opening new accounts or being added as signatories to existing
accounts. This institution cannot waive this requirement.”
– United States Department of the Treasury
Say goodbye to cash and checks with a Freedom Card from
Ascend. Simply swipe this handy piece of plastic, and your
funds are deducted from your Ascend Share Draft (checking) account. Plus, you can also use your Freedom Card
for fee-free transactions at more than 200 proprietary and
network ATMs throughout Tennessee.
If the staff of Ascend Federal Credit Union asks you to provide a photo ID, the request is not meant to invade your privacy or disrespect
you if you are a long-time member. We are simply complying with a
federal regulation that is designed to protect you from identity theft
and protect the credit union from being used for criminal activity.
Free up some space in your billfold and pay for your purchases on your terms. Apply for your Freedom Card today
at ascendfcu.org or at your nearest Ascend financial center.
For account transactions, you will be asked for one form of ID. If
you are opening an account or adding someone new to an existing
account, you will be asked for a photo ID, as well as other information that will allow us to identify you. Required information that
must be obtained includes:
• Name
• Mailing address
• Residential Address (if different than the mailing address)
• Social Security Number or Tax Identification Number
• Date of Birth
Does it feel like you got a little out of control with the credit
cards over the holidays?
Get back on track by consolidating those high-rate cards into
one low-rate Ascend Visa.
Whether you’re in college, starting a family or are an established cardholder looking for enhanced rewards, Ascend offers a Visa option perfect for you.
All Ascend Classic Visa, Visa Gold and Platinum Preferred
Visa cards have no annual fee, no transaction fee for cash
advances, and a great low annual percentage rate.
Call 800-342-3086 or apply online at ascendfcu.org.
r e s o l u twith
i on sMobile
yo u can
keep! Access!
Stay Connected
Account
Don’t have time to visit an Ascend financial center?
Don’t worry. Mobile Account Access puts Ascend in the palm of your hand!
With this free service, you have access to E-BRANCH and E-PAY at your convenience.
All you need is a cell phone with a data plan and Web browser, and you’re set. If you
are already registered for E-BRANCH and E-PAY, no separate sign-up is required.
Applying for an Ascend auto loan is a snap. Simply visit
ascendfcu.org, then scroll over Loan Center, Applications and Consumer Loan Application. You may also
call 800-342-3086 or visit your nearest Ascend financial center.
Individuals opening accounts for minors must provide ID for themselves and a Social Security card for the child.
Mobile Account Access uses industry standard technology and 128 bit encrypted communication to keep your account information secure. No personal or confidential information is
stored on the mobile device.
The USA Patriot Act requires the credit union to maintain records
of the verification and update the information.
You have mobile access to balances, current and scheduled transfers, online bill payment,
financial center and ATM locations, and the latest rates.
With a little help from Ascend, you can be driving you’re
dream vehicle in no time!
Confidentiality of this information will be maintained as required
under the Privacy Act and all other applicable laws and regulations.
Don’t have E-BRANCH or E-PAY? Visit ascendfcu.org and register for these free and secure electronic
services today!
•7•
possibilities • january
60th Annual Meeting & Election Scheduled
Things To Do in January
It’s no surprise that January is a big month for making resolutions. And if
you’ve been making resolutions for a while, you know how many of them
fall by the wayside before February.
These suggested resolutions are different in two ways—they’re
in the ‘set and forget’ category, and they can make your life so
much easier that you’re likely to keep them:
Set up direct deposit with Ascend. Once you arrange
to receive regular payments like your paycheck or Social
Security and pension checks with direct deposit, you’ll
never have to worry about making timely deposits again. You’ll
know that your deposit is in your Ascend account exactly when
you expect it to be.
Set up automated transfers to savings to pay yourself first. The next smart step after direct deposit is
to get funds into savings right away so they can begin
earning dividends from the get-go.
Automate your mortgage payment. Even with the
typical grace period that most mortgage lenders allow,
it’s always a good move to take care of that big monthly
payment. Again, you’ll never have to worry about making the
payment on time.
Automate minimum credit card payment or payments. The penalty for a late credit card payment is
not pretty. Set up an automated payment to cover at
least the minimum due on all your credit cards; you can always
pay additional amounts so you retire those debts as soon as you
can. Set payments a few days before the due dates to protect
your credit score.
ered from your savings account. Even if an overdraft is
rare in your household, it can happen to the best money
managers. Make sure you can cover any inadvertent overdraft
with a direct transfer from your savings account and there’s another worry you’ll never have again.
For more information about any of these suggestions, visit your
nearest Ascend financial center or call 800-342-3086.
If you’re looking to reduce clutter in your life this year, why not start with what comes into your home?
An e-statement is your totally free, totally paperless way to receive your monthly statement. Your e-statement sits behind
password-protected E-BRANCH, and you can burn it to a CD or
DVD for the ultimate in convenient storage.
Biographical data on nominees Stephen M. Passarello, Robert Lee
Parker, Jr., and Robert H. Burt is included for your information.
Blank petitions and “Willingness to Serve” notices may be obtained by contacting the credit union’s Marketing Department at
1-800-342-3086. In the event no nominating petitions are filed
by the general membership, nominees submitted by the Nominating Committee will be elected by acclamation. In this case,
according to the bylaws, a mail ballot is not required.
Nominations by petition must be submitted to the secretary of
the Board of Directors no later than 5 p.m. on Monday, Feb.
21, 2011, in order to qualify. Nominations by petition require
a minimum of 500 signatures. Biographical data and a signed
“Notice of Willingness to Serve” must accompany petitions.
Nominations will not be accepted from the floor at the Annual
Meeting if there is at least one nominee for each position to
be filled. The results of the 2011 Annual Election will be announced at the Annual Meeting scheduled for 1 p.m., Saturday,
April 2, in the Lecture Hall at Tullahoma High School.
Arrange to have any overdrafts automatically cov-
Cut the Clutter with e-statements!
One piece of mail you can easily eliminate is your monthly statement. How? By registering for an electronic statement – or estatement – from Ascend.
The Nominating Committee for Ascend Federal Credit Union’s
Board of Directors has submitted nominations for three Board
seats to be filled in 2011.
Registering for e-statements is easy. Log onto E-BRANCH and
select “Account Access,” then “Online Statements.” Read and
accept the disclosure. When your e-statement is ready, you’ll
receive an e-mail.
Resolve to cut clutter by registering for e-statements from Ascend today!
Stephen M. Passarello
Tullahoma, TN
Robert Lee Parker, Jr.
Tullahoma, TN
Robert H. Burt
Estill Springs, TN
Employment:
• Retired officer, United States Air Force; 24 years working
in Department of Defense Financial Management; last
assignment: Comptroller, AEDC
• Current position: Chief, Financial Analysis, AEDC
Employment:
• Retired Engineering Manager
Employment:
• Retired/Engineer
Education:
• MS, Engineering Management, University of
Tennessee, 1986
• BS, Aerospace Engineering, University of Cincinnati, 1969
Education:
• BSME, Tennessee Technological
University, 1961
Education:
• MBA, Personal Financial Planning, Golden Gate
University, 1990
• MS, Logistics Management, Air Force Institute of
Technology, 1981
• BS, Business Administration, UT, 1976
• Associate Degree, Motlow State Community College, 1974
Experience:
• Member Ascend FCU, 13 years
• Board of Directors: 1997-present
- Air Force liaison, 1997-2000
- Chairman of the Board, 2005-2008
Community Involvement:
• Member of Saint Paul's Church
• Board of Directors, Tullahoma National Little League,
2000-2001
• Treasurer, Tullahoma High School Basketball Boosters,
2010-2011
Certification:
• Certified Defense Financial Manager (CDFM)
Experience:
• Member Ascend FCU, 40 years
• Supervisory Committee, 1987-1995
• Board of Directors, 1995-present
- Treasurer, 1997-1999
- Vice Chairman, 1999-2001
- Chairman, 2002-2005
- Chairman, Strategic Planning Committee, 2005-present
- Compensation Committee, 2005-present
Community Involvement:
• Tullahoma Planning Commission, 1979-1986
• Tullahoma Utilities Board, 1986-1994
• Coffee County Public Building Authority, 2001-2007
Experience:
• Member Ascend FCU, 55 years
• Board of Directors, 1981-present
- Chairman, 1991-1993
- Treasurer, 2000-2005
• Chairman, Tennessee Credit Union
League, 1987-1988
• Director, Credit Union National Association, 1988-1991
• Middle Tennessee Credit Union
Volunteer of the Year, 1994
Community Involvement:
• Tullahoma Airport Authority Secretary, 1986-1991
• City of Tullahoma Honorary Alderman, 1991
•9•
possibilities • january
Tell Your Friends and Family about Ascend!
Remember that $5 million member return from Ascend back in December?
Or the credit union’s annual mortgage, credit card and auto loan specials?
These are just a few benefits of being a member of Ascend, and now the credit union
makes it easy – and profitable – to let your friends and family know:
A Message from the MEMBERS Financial Services Program
RETIREMENT INCOME PLANNING
There’s a Big Difference Between Not Working and Not Worrying
✓Visit ascendfcu.org and click the “Refer a Friend” link.
✓Fill out a brief referral form.
✓Your friend, family member or co-worker will receive an invitation to join Ascend.
✓You’ll receive a $10 cash bonus for each referral who joins within six months.*
Are you approaching retirement … or already retired? If so, you should
have a retirement income plan in place to meet your goals.
If you have any questions about Ascend’s referral program, please call 800-3423086. All referrals must be submitted online at ascendfcu.org. If you do not have
Internet access, please visit your nearest Ascend financial center and take advantage of our Internet kiosks.
Ask yourself the following questions:
•“Am I financially prepared to retire?”
•“How much income can I realistically expect from my savings?”
•“What sources of income should I draw upon and when?”
•“How do I know if my income will last … or run out?”
•“How should I handle the rollover of my 401(k) plan?”
•“What about taxes, inflation, rising healthcare costs, low interest rates, and a fluctuating stock
market?”
The MEMBERS Financial Services Representatives serving Ascend Federal Credit Union can work
with you to answer these questions and build a plan for your retirement income that allows you to
live without worrying about whether you’ll outlive your savings.
For more information, or to arrange a personal one-on-one retirement income planning consultation,
call Randall W. Harris, CFP®, ChFC, at 931-454-1307 or Kent Hart, Financial Advisor at 615-8497388. You may also reach Randall or Kent at 800-342-3086, extension 1307 or 7388.
CLICK
HERE
*The $10 cash bonus will be deposited to your Share account. To receive the cash bonus, the referrals have to be submitted via the online form at ascendfcu.org. Maximum payment for all referrals
is capped at $500 per year.
s cam wat c h
Take Steps to Preve nt Senior
Financi al Sc ams
A study released by MetLife Mature Market Institute,
New York, revealed that perpetrators of elder financial abuse typically are not strangers to the victim:
Most perpetrators have gained the trust of the older
individual, according to the March 2009 report.
The shocking truth: Family members and caregivers are culprits in 55% of reported cases.
Retirement, investment and insurance services for life
Randall W. Harris, CFP©*, ChFC • 931-454-1307
Kent L. Hart, Financial Advisor • 615-849-7388
800.342.3086, ext. 1307 or 7388 • Fax 931.454.1339
Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly,
Iowa 50677, toll-free (866) 512-6109. Nondeposit investment and insurance products are not federally insured, involve
investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract
with the financial institution, through the financial services program, to make securities available to members.
*The CFP certification marks are not affiliated with CUNA Brokerage Services.
1385-P1786F1 (1107)
Take steps to reduce the likelihood you or a loved one will
become a victim:
• Establish who will have power of attorney.
• Don't commingle funds with those of the person granted power of attorney.
• Check references and conduct criminal or background checks on all hired help.
• Be suspicious of all phone solicitations. Simply say "no thank you" and hang up.
• Get to know credit union staff members; they are trained to recognize warning signs affecting accounts and to report suspicious activity.
• 11 •
possibilities • january
presorted
Standard
u.s. postage paid
Nashville, TN
Permit #1
p.o. box 1210
520 Airpark Drive
Tullahoma, TN 37388
for our members i n the home of:
We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.
This credit union is federally insured by the National Credit Union Administration. Membership is limited.
lo cat i on s
www.ascendfcu.org • [email protected] • 1-800-342-3086
Corporate
Headquarters
P.O. Box 1210
520 Airpark Drive
Tullahoma, TN 37388
Lewisburg
Nashville
1372 Rock Crusher Road
Lewisburg, TN 37091
6201 Centennial Blvd.
Nashville, TN 37209
Manchester
2600 Elm Hill Pike
Nashville, TN 37214
Arnold Air Force Base
1929 McArthur St.
Manchester, TN 37355
452 N. Hap Arnold Drive
Arnold AFB, TN 37389
mcminnville
Columbia
981 W. James Campbell Blvd.
Columbia, TN 38401
Three Star Mall
1410 Sparta St.
McMinnville, TN 37110
Murfreesboro
cool springs
3150 Aspen Grove Drive
Franklin, TN 37067
Franklin County
2459 Decherd Blvd.
Winchester, TN 37398
1250 W. Clark Blvd.
Murfreesboro, TN 37129
750 S. Church St.
Murfreesboro, TN 37130
Shelbyville
1900 N. Main St.
Shelbyville, TN 37160
Smyrna
769 Nissan Drive
Smyrna, TN 37167
Tullahoma
1611 N. Jackson St.
Tullahoma, TN 37388
4051 Franklin Road
Murfreesboro, TN 37128
Raising Possibilities