4th Quarter eNewsletter
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International Credit Union Day
 
ICU Day
On October 17, 2019, ViaCU will join with 56,000 credit unions around the world in celebration of International Credit Union (ICU) Day®.  Members are encouraged to bring a friend or family member to any branch to enjoy cookies on ICU Day to celebrate!

There are 200+ million credit union members around the world—more than 100 million in the U.S. alone—and ViaCU joins them in celebration of the not-for-profit cooperative spirit that all credit unions share.

This cooperative spirit has led to life-changing opportunities for people all over the world who’ve wanted to start a small business, own a home or continue their education but were denied access to other financial institutions. In many parts of the world, people’s first taste of democracy is through their credit union, where “one member, one vote” is the governing structure.

At its most basic level, a credit union is people pooling their money to provide each other with affordable loans—it is literally people helping people. This is why ViaCU celebrates ICU Day. Because credit unions empower people, wherever they are in the world or life, to take control of their financial future.

The public is welcome to stop by any branch and celebrate with ViaCU a movement that concerns itself with the financial success of all people.

 
ViaCertificates
 
ViaCertificates
ViaCU’s certificate rates are very competitive and are the perfect choice for any saver when liquidity is not an issue.  With terms from 3 to 71 months and minimum of $500to open, a ViaCertificate can make your spirits bright!
Comparison Chart
1. Minimum $500 balance for certificates 12-71 months.
2. APY= Annual Percentage Yield. Savings rates are effective October 2, 2019 and are subject to change without notice. Dividends are compounded and credited monthly. Certificates with a term of 3-17 months are subject to a penalty for early withdrawal of 60 days dividends on principal withdrawn, whether earned or not. Certificates with a term of 18-71 months are subject to a penalty for early withdrawal of 180 days dividends on principal withdrawn, whether earned or not.
Mortgage Deduction
 
Mortgage Deduction
Did you refinance your home mortgage in 2019? If so, visit your county Assessor’s office to reapply for Indiana Mortgage Deduction. The Mortgage Deduction must be reapplied for if the property is sold, the title is changed or the home is refinanced. To ensure you do not lose the deduction for your property taxes in 2020, you must reapply by December 31, 2019.
Get Your Mitts on More Cash
 
ViaSkip Payment
Take advantage of ViaSkip Payment and skip your closed-end loan payment once every 12 months.  Use the extra cash to purchase gifts, fuel up the sleigh for holiday travels or just enjoy the peace of mind that comes with a little extra jingle in your pocket!

Complete the ViaSkip Payment form
to get started.
Begin the Savings Habit Early
 
Student Branches
Via Credit Union operates Student Branches that are  ran by select 4th or 5th grade workers who open new accounts and take deposits from students at area schools.

The mission of this cooperative is to help students learn about money and to establish money management skills. This is a great experience for students to learn a lifelong lesson of saving, but we make it fun too! Students place their names into a weekly and monthly drawing each time they make a deposit. There are also various incentives given throughout the school year.
Student Branches are open before school on select days of the week:

If you have a child in your family attending one of the above schools and have questions please contact the Marketing Department at 765.674.6631.
Casual for a Cause
 
Nurse's Aid
ViaCU’s staff have the opportunity to donate $1 every Saturday to dress down to support Nurse’s Aid.  During October, staff will be seen in Nurse’s Aid t-shirts to bring awareness of the program.

Nurse’s Aid is a program that provides school nurses with personal hygiene items and other necessary supplies beyond first aid needs.  ViaCU’s goal is to spread awareness and raise enough money to fulfill each school nurse’s “wish list” each school year.

If you are interested in contributing to Nurse's Aid, call 765.674.6631 or let your teller know next time you are in the branch.
Santa is coming to Via Credit Union
 
Santa
Receive a free picture with Santa this holiday season.  Members of all ages are invited to visit Santa at Via Credit Union!  Santa will be at the following branches during December.
  • South Marion - Tuesday, December 10 from 2:30 to 4:30 pm
  • Hartford City - Wednesday, December 11 from 2:30 to 4:30 pm
  • Gas City - Thursday, December 12 from 2:30 to 4:30 pm
  • West Marion - Friday, December 13 from 3:00 to 5:00 pm
  • Warsaw - Saturday, December 14 from 10:00 to Noon
Celebrate this magical season by telling Santa what’s on your wish list!
Holidays Shopping
 
Card Limits
Your ViaVISA credit card transaction limit has been temporarily increased to 15 transactions per day during the holiday season*. Please remember there is a daily purchase limit of $1,500 for the ViaCU MasterCard debit card. 

*ViaVISA credit cards daily transaction limit will be increased to 15 transactions per day from 11/17/19-01/06/20.
ViaInsurance
 
ViaInsurance Agency
The new school year has begun and the holidays are approaching, here are a couple of things to keep in mind:
  • Now that schools are providing tablets to children, be sure to enroll in the school’s insurance plan for the “loaned device”.  This also applies to musical instruments.
  • College students should have a renter’s home policy, if they are in an apartment setting.  There is no extension of coverage from a parent’s home policy when a lease is involved.  However, dorm rooms are covered automatically.
  • Winter toys, such as ATVs and snowmobiles, need insurance coverage.  No coverage is afforded when the ‘toys’ leave a residence property.
  • Christmas gifts such as jewelry can be added to a home/renter’s policy with special coverages for a minimal premium.  The rider covers mysterious disappearance and stone replacement, which is not covered under the standard home policy contract.  To add the rider, an appraisal is required. 
  • Drones are a liability risk if it falls on a car, home or person.  Drones need a rider on your policy.
Receive a free, no obligation quote for your gift, toy or student insurance needs by calling Beth Combs at 765.662.3700
 
Five Times in Your Life When You Might Need Help with Your Finances
 
Heath Slain
As you move through different stages of life, you will face new and unique financial situations. Did you just get engaged? Perhaps you are wondering how you and your partner are going to manage your money together. Do you have children? Maybe you are looking for ways to pay for their college education.

When you navigate through these various life events, you might seek professional guidance to help you make sound financial choices.

1. Getting married
Getting married is an exciting time in one's life, but it also brings about many challenges. One challenge that you and your spouse will face is how to merge your finances. Careful planning and communication are important, since the financial decisions you make now can have a lasting impact on your future.

You'll want to discuss your financial goals and determine which are most important to both of you. You should also prepare a budget to make sure you are spending less than you earn. Other issues to consider as a couple include combining financial accounts, integrating insurance coverage, and increasing retirement plan contributions.

2. Buying a home
Buying a home can be stressful, especially for first-time homebuyers. Since most people finance their home purchases, buying a house usually means getting a mortgage. As a result, you'll need to determine how large a mortgage you can afford by taking into account your gross monthly income, housing expenses, and long-term debt.

And if you haven't already done so, you'll need to save for a down payment. Traditionally, lenders have required a 20% down payment on the purchase of a home, however many lenders now offer loans with lower down payments.

3. Starting a family
Starting a family is an important — and expensive — commitment. As your family grows, you will likely need to reassess and make changes to your budget. Many of your living expenses will increase (e.g., grocery, health-care, and housing costs). In addition, you'll need to account for new expenses such as child care and building a college fund.

Having a family also means you should review your insurance coverage needs. Life insurance can help protect your family from financial uncertainty if you die, while disability insurance will help replace your income if you become injured or sick.

4. Paying for college
Paying for college is a major financial undertaking and usually involves a combination of strategies to help cover costs — savings, financial aid, income during the college years, and potentially other creative cost-cutting measures. Hopefully, you've been saving money on a regular basis to amass a healthy sum when your child is ready for college. But as college costs continue to rise each year, what you've saved may not be enough.

For this reason, many families supplement their savings at college time with federal or college financial aid. Federal aid can include student and parent loans (need-based and non-need-based), grants and work-study (both need-based), while college aid consists primarily of grants and scholarships (need-based and merit-based). In fact, college grants and scholarships can make up a significant portion of the college funding puzzle, so exploring the availability of college aid is probably the single biggest thing you can do after saving regularly to optimize your bottom line. In addition to financial aid, you might take out a private college loan or borrow against your home equity. Or you might pay college expenses using your current income or other savings or investments.

5. Saving for retirement
You know that saving for retirement is important. However, sometimes it's easy to delay saving while you're still young and retirement seems too far off in the future. Proper planning is important, and the sooner you get started, the easier it will be to meet your retirement income needs. Depending on your desired retirement lifestyle, experts suggest that you may need 80% to 100% of your pre-retirement income to maintain your standard of living. However, this is only a general guideline. To determine your specific needs, you'll need to estimate all your potential sources of retirement income and retirement expenses, taking taxes and inflation into account.

Once you've estimated how much money you'll need for retirement, your next goal is to save that amount. Employer-sponsored retirement plans like 401(k)s and 403(b)s are powerful savings tools because you can make pre-tax contributions (reducing your current taxable income), and any investment earnings grow tax deferred until withdrawn, when they are taxed as ordinary income. You may be able to enhance your savings even more if your employer matches contributions. IRAs also offer tax-deferred growth of earnings.

Financial Advisor, Heath Slain, is available to help you navigate through these life events and to develop a plan for your future.  Contact Heath Slain at 765.662.3700 or visit https://via.cusonet.com/contact-us/.

Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. ViaCU has contracted with CFS to make non-deposit investment products and services available to credit union members.
 
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