Vision Newsletter FALL 2014

Vision Newsletter
FALL 2014
On October 16, 2014, credit unions around the world will celebrate
International Credit Union Day®. That’s 200+ million people …
from 56,000 credit unions … in 101 countries joining together to
celebrate their cooperative spirit.
Locally, as a member of Space Age, you and your financial
stability are our top priorities. Globally, you’re part of a much bigger
movement—the credit union movement—working towards global
good each and every day. That’s definitely something to celebrate!
Join us and celebrate over 200 million credit union members
worldwide! Stop by the branch on October 16th and grab a
snack and a foam drink coolie!*
*Supplies are limited. Available on a first come first served basis. One drink coolie per member.
HOLIDAY CLOSINGS
Columbus Day
Monday, October 13, 2014
With the 2014 holiday season quickly approaching,
Space Age Federal Credit Union would like to thank
you for entrusting us with your financial future. To help
relieve some of your holiday stress, we are offering you
the opportunity to skip your December 2014 or January
2015 loan payment(s).
Call a Space Age Representative at 303.369.7666 for
information and restrictions.*
Happy Holidays from Space Age Federal Credit Union!
*Member must be in good standing. This offer is not valid for blocked and over credit limit accounts, as well as accounts
with delinquencies in the past (9) months. Offer is not valid on first mortgage loans. Offer is not valid for any new loan
with a first payment due date in September 2014 through January 2015. Finance charges on the outstanding balance
will continue to accrue during the skipped month. If applicable, skipping any automobile loan payment(s) may affect a
guaranteed asset protection (GAP) payout. Member participation in this promotion is optional.
Veterans Day
Tuesday, November 11, 2014
Thanksgiving Day
Thursday, November 27, 2014
Christmas Day
Thursday, December 25, 2014
New Year’s Day
Thursday, January 1, 2015
Remember, you can access your
accounts 24-hours a day, seven days
a week through Online and Mobile
Banking at www.spaceagefcu.coop or
at thousands of surcharge-free ATMs
displaying the CO-OP logo.
Shared Branching
It’s Everywhere You Are
Space Age Offers Shared Branching, an Amazing
Resource for You as a Member.
Board of Directors
Call to Nomination
Space Age Federal Credit Union is currently accepting
nominations for election to our Board of Directors.
What is Shared Branching?
As a member/owner of Space Age, you may be eligible for
Shared Branching is a national network of credit unions,
nomination. The basic requirements to serve on the Board
who have joined together and opened their doors to
are that you are at least 18 years of age and that you
members of other credit unions, like you. You can walk
would be willing to serve without compensation.
right in to any of the 5,000 shared branching locations
Next year, three positions will be vacant, each for a three-
coast to coast, just like you would at Space Age.
year term. A Nominating Committee has been appointed
Whether it’s business travel, family vacations, or college,
there is a branch nearby.
to select the best-qualified candidates for the available
positions. If you are interested, please write to:
The Nominating Committee Chairman
How can you find a shared branching location?
Space Age Federal Credit Union
Simply visit spaceagefcu.coop, go to “About Us” and
2495 S. Havana Street
choose Locations.
Look for these two logos when you are out and about.
F-18, Aurora, CO 80014
Upon receipt of the letter of request, the Nominating
Committee will forward the necessary forms to the
interested member. These completed forms must be
returned to the Committee no later than November 1, 2014.
REMODEL YOUR HOME BEFORE THE HOLIDAYS
Open a Fixed Rate Second Mortgage from Space Age. For a limited time, rates are as low as
3.75%APR*! Plus, you’ll get no payments for 90 days**. Take advantage of this offer! Contact a
Space Age Representative at 303.369.7666 or 800.666.6928 for more information.
*When financed with Space Age Federal Credit Union. New money only. Owner occupied. With credit qualification and loan-to-value of 80.00% or less, rate is 3.75% APR.
With credit qualification and loan-to-value between 80.01% and 90.00%, rate is 4.75%APR. APR=Annual Percentage Rate. WAC=With Approved Credit. Offer valid from
October 1, 2014 to December 31, 2014. **90 days of no payments begins on loan origination date. 90 additional days will be added to the loan agreement.
GET INTO TAILGATE SEASON WITH SPACE AGE
This fall, receive a free portable cooler when you open an additional Space Age product.* Bonus! Five randomly
stacked coolers contain $50 gas cards! Space Age products that qualify for this offer are: Checking Account with
Direct Deposit • Visa® Check Card • Visa® Credit Card • Line of Credit • Second Mortgage • Home Equity Line of Credit
*Promotional offer valid September 1, 2014 to October 31, 2014. Must be accompanied by a Space Age Representative when picking a free cooler. One cooler per member and member number.
Cannot receive additional coolers for products opened on secondary memberships and joint accounts. Value of gas cards are equal to $50.
GREAT AUTO & MOTORCYCLE LOANS
For a limited time, when you finance a new auto loan at Space Age Federal Credit Union, you will
receive 1.00%APR* off your qualifying rate. Plus, no payments for 90 days**! Call a Space Age
Respresentative today for more information at 303.369.7666 or 800.666.6928.
*When financed with Space Age Federal Credit Union. Members cannot refinance an existing Space Age auto loan. May not be combined with any other promotional offers
or rate reductions. New money only. Current 60-month auto loan rates as low as 2.99%APR. Current 60-month motorcycle loan rates as low as 4.74%APR. APR=Annual
Percentage Rate. WAC=With Approved Credit. **90 days of no payments begins on loan origination date. 90 additional days will be added to the loan agreement.
It’s not easy to pick the right health insurance plan. Doing so takes
time and research because the stakes are simply too high to just pick
the cheapest option and hope for the best. Many employers offer a
variety of plan types, including HMO plans, PPO plans, POS plans,
and fee-for-service plans. Which one may be right for you (and your
family) can depend on your budget, current overall health, and need
for specialized care.
PPO Plans: Managed Care With Fewer Restrictions
A PPO (preferred provider organization) shares some of the same
guidelines as an HMO, but is less restrictive. An enrollee in a PPO is free
Fee-for-Service Plans: Choice at a Premium Price
to seek care within the PPO network or outside of it and usually does not
A fee-for-service plan is known as a “traditional” health insurance plan.
need a referral from a primary care physician. However, care received
Unlike other types of plans, it allows its members to select from a wide
within the PPO network is usually less expensive than a visit to an out-of-
choice of doctors and hospitals and has fewer restrictions than other types
network doctor.
of plans. Because it allows so much flexibility, it is generally one of the most
expensive health insurance options.
PPOs usually require enrollees to pay out-of-pocket costs up to a fixed
deductible before the plan covers any remaining medical expenses. Like
Members in a fee-for-service plan typically have to pay a deductible out
an HMO, enrollees pay a fixed monthly fee for their coverage and can be
of pocket before the plan starts to fund covered medical visits. Even then,
charged copayments when visiting a physician, receiving treatment at an
the insured must also pay a certain percentage of the costs – called
affiliated facility, or filling a prescription. Premiums for PPOs are generally
“coinsurance.” Most plans have a cap on the amount the insured will have to
more expensive than HMOs.
pay for medical expenses in any one year – typically in the range of $1,000
to $5,000. This cap does not apply to monthly premiums.
Certain “high deductible” fee-for-service plans allow members to fund a
health savings account (HSA), using pre-tax contributions. Employers
can also contribute to an HSA on behalf of the employee. The balance of
an HSA can only be used to pay for eligible medical expenses. Unlike a
Flexible Spending Account (FSA), the balance does not need to be used up
in a calendar year – it can be carried over to apply to future eligible medical
Do Your Homework Before Deciding
Before deciding between types of coverage, consider the following:
• Is cost your chief concern? HMOs are usually a lower-cost alternative.
• Do you (or a covered family member) require frequent visits to a specialist
such as a dermatologist or alternative care practitioner such as a
chiropractor? If so, a PPO may provide the flexibility you need.
• Are your doctors covered under your plan? Most insurance providers
will be able to furnish you with a current listing of allied physicians and
expenses.
treatment centers. Be sure to find out which of your doctors are in your
HMO Plans: Managed Care With Many Restrictions
An HMO – or health maintenance organization – covers medical treatment
from health care providers within a specified network. Typically, an HMO
enrollee must select a primary care physician, who oversees that member’s
medical care, including approving any in-network visits to a specialist.
HMOs do not typically require a deductible. Members usually pay a
plan’s network before making a choice.
Points to Remember
1. A fee-for-service plan provides the most choice and flexibility, but is
usually also the most expensive.
2. HMOs seek to “manage” costs by restricting the doctors from whom its
fixed monthly fee to participate and are required to make copayments
members can receive services. However, if all or most of your doctors
when visiting an in-network health care provider, receiving treatment
are part of its network, it can be a cheaper, convenient option.
at an affiliated facility, or filling a prescription. Visits to out-of-network
3. PPOs may be appropriate for those who need some additional flexibility,
providers frequently are not covered by the plan. Because of their stringent
but don’t want the costs associated with a full fee-for-service plan.
guidelines, HMOs are usually considered one of the lower-cost health
Todd A. Dussex is a Certified Financial Planner Professional
insurance alternatives.
available at Space Age Federal Credit Union. If you would like
Some employers give their employees the additional option of a POS
to speak to or meet with Todd, simply contact his office at
– or point-of-service plan. A POS is an expanded HMO. In a POS plan,
303-283-4746 or ask a Space Age Representative to arrange
members can refer themselves to a doctor outside of their network and
a meeting. Todd offers a free, no obligation consultation to all
receive partial coverage.
members of Space Age.
Securities offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL
Financial or its licensed affiliates. LPL Financial is not affiliated with the credit union.
Not NCUA Insured
No Credit Union Guarantee
May Lose Value
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Because of the possibility of human or mechanical error by S&P Capital IQ Financial Communications or its
sources, neither S&P Capital IQ Financial Communications nor its sources guarantees the accuracy, adequacy,
completeness or availability of any information and is not responsible for any errors or omissions or for the results
obtained from the use of such information. In no event shall S&P Capital IQ Financial Communications be liable
for any indirect, special or consequential damages in connection with subscriber’s or others’ use of the content.
VISION NEWSLETTER | FALL 2014
How
can I be a part of this team?
It’s Easy! You can join today by visiting Space Age’s
Grassroots Advocacy Team page at
www.spaceagefcu.coop/grassroots.htm or go to Space
Age’s homepage and click on About Us, Grassroots
Advocacy Team.
Space Age members will team up with credit union
members from all over Colorado and work closely with
elected public officials to ensure credit union owners’
voice is heard, by participating in various team
collaborative actions:
The Grassroots Advocacy Team is a group of credit union
• Writing, e-mailing, or calling your elected officials.
owners from Space Age, as well as other credit unions in
• Sending letters to the editors of your local paper or
television station.
Colorado, who are committed to working together to
defend our credit unions and help them grow.
Join
the Grassroots Advocacy Team to...
• Stop bankers from attempting to tax Space Age,
which would be a tax on YOU!
• Safeguard YOUR credit union ownership from
unfair bank attacks.
• Enhance Space Age’s ability to provide more to
YOU, other members, and YOUR community.
• Protect YOUR lower loan rates and higher savings
rates returned to YOU every year as a credit
union owner.
• Working together, we can protect and expand the
benefits of credit union membership.
• Attending credit union sponsored events in support of
fellow credit union members.
• Participating in the Get Out the Vote activities to ensure
we elect public officials who support credit unions.
How
will I know what to do?
The Grassroots Advocacy Team of the Mountain West
Credit Union Association will keep you informed of
issues that affect your credit union benefits.
The Grassroots Advocacy Team will give you the simple
tools you need to protect and defend those benefits –
sample letters, message points, and information on
hearings, meetings, and issues.
The Grassroots Advocacy Team will tell you which
elected officials support your credit union benefits – and
which ones don’t – letting you make up your own mind
about who to support at election time.