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Spring 2021 Newsletter

Woman and child in car smiling while child sticks arms and head outside window

Enjoy the Ride and Get $100**

AUTO RATES as low as
1.99% APR*
Up to 72 Months
Model Years 2018 and Newer

*APR = Annual Percentage Rate. No additional discounts may be applied to rate. Rates can change at any time. Other rates and terms available. Current U$X FCU loans are not eligible for refinancing. The rate applicable for each borrower will be based on their individual creditworthiness. All loan approvals are subject to normal loan underwriting guidelines. Offer expires May 31, 2021. See credit union for full details. **Offer available to those who are preapproved. $100 will be paid at closing of the loan. Not all will qualify.

Spring Means New Beginnings

HOME EQUITY LOAN
3.19% APR*
15 Year Fixed Term
No Closing Costs!**

*APR = Annual Percentage Rate. Rates subject to change without notice. Rates based upon individual creditworthiness. Other rates and terms available. All loan approvals are subject to normal loan underwriting guidelines. Minimum real estate secured loan amount is $10,000. Applies to owner-occupied property, geographical restrictions may apply with a maximum loan to value of 80% and first lien position. Current U$X FCU Home Equity or Home Loans are not eligible for refinancing, unless an additional $10,000 is borrowed. Consult your tax advisor for potential tax savings. ** U$X FCU pays all closing costs ranging from $100 to $1500 (excluding Title Insurance policy if required). See credit union for details.

Presidents Message

Here it is March of 2021. It’s hard to believe that we’ve been dealing with the COVID-19 virus now for a year. Many of the challenges that we faced in 2020 continue to impact us during the first quarter of 2021, both professionally and personally. However, there are optimistic signs for the remainder of the year. At the time of this writing, the number of COVID-19 cases in the area continue to decline and the number of vaccines being made available to the public are increasing. Both are hopeful signs for the future.

As you may already be aware, with the exception of our office in the U. S. Steel Tower at 600 Grant Street, we re-opened our offices to lobby traffic on March 8th. Social distancing guidelines continue to be followed and masks are still required.

The COVID-19 pandemic has dramatically reduced foot traffic throughout all of downtown Pittsburgh. Our Executive team with the support of our Board of Directors have decided not to renew the credit union’s lease in the U. S. Steel Tower. Accordingly, this office will be permanently closed.

Spring is a time of renewal and optimism and so too it is here at the credit union. We very much look forward to returning to a more normal business operation in 2021, especially from a lending perspective. To that end, this month we mailed out our Spring Auto Promotion and our Home Equity Loan Promotion. We’re very excited to offer what we feel are very competitive rates and terms for qualified borrowers, for both promotions and look forward to saving our members a lot of money! So, if you are considering that new car or maybe starting some projects around the house or just would like to refinance, now would be a great time to speak with one of our Loan Service Representatives.

During the pandemic, our members have dramatically increased their utilization of our electronic and online delivery of our products and services. We are pleased that these convenient banking services continue to grow. Remember that you can always take advantage of our many FREE electronic and online delivery services:

Through these channels, you can check balances, transfer funds, deposit checks, pay bills and apply for loans. If you are not enrolled in these services, call us at 1-888-219-3159opens phone dialer for assistance.

Please remember that U$X FCU is your credit union and that we are here to help and support you with your financial needs. Reach out to us for any assistance we may be able to provide Thank you for your continued membership and support.

Sincerely,
Mark A. Volponi,
President/CEO

Welcome

The Board of Directors and Staff would like to welcome the following new companies, associations and their employees or members to U$X FCU:

Maroadi Transfer & Storage, LLC Zock Family Chiropractic, LLC

Remember if your co-workers are not yet members of U$X FCU, you can get paid for introducing them to the credit union. Ask our staff how.

Be A Credit Union Saver and Your Savings Will Never Go Extinct™

Be a credit union saver and your savings will never go extinct!! Every April, National Credit Union Youth Month serves to encourage kids to develop healthy saving habits by making savings fun and exciting.

What kind of saver is your child? One who saves happily, or will their savings “go extinct”? To find out, stop by one of our U$X FCU’s offices in April during National Credit Union Youth Month!

Financial literacy and the concept of saving money is a crucial life skill for young people, but it’s one that too few are learning. That’s why in April, U$X FCU is encouraging our young members to develop healthy savings habits so their savings doesn’t go extinct!

This Jurassic theme makes saving for the future fun and helps younger members appreciate the importance of putting money aside.  It’s designed to help remind parents to make saving for the future fun and helps your kids find the joy in setting aside a little money for everyday spending and helping others.

Every saver is unique, but most people who save regularly developed the habit early in life. Learning to delay gratification in order to save for long-term goals is a crucial life skill, and one U$X FCU is committed to helping our youngest members develop.

At U$X FCU, we’ve created programs and services designed specifically for young people.

So stop by and get in on the action during Youth Month! Join one of our Youth Clubs to give our young members an early boost, we’ll give them their own SPECIAL interest rate of 1.00% APY* on the first $500 of savings! Plus, for every new youth member under the age of 12 they will receive a FREE Piggy Bank.

We offer three, age appropriate versions of our Youth Accounts!

Visit our website and use our GreenPath Financial Education Center to learn how to balance our checkbook, buy a vehicle, re-pay student loans and so much more!

By helping your child with a little Dino-Savings, you’ll help them soar when they’re older.

Call 888-219-3159opens phone dialer or visit us at the links above to learn more about our youth programs.

*APY = Annual Percentage Yield, rates subject to change without notice. 1.00% APY applies to balances up to $500 only and balances over $500 will earn the (Base) Share Savings interest rate. The credit union Board of Directors will review and adjust the interest rate monthly. Special interest rate applies to Dollar Dog, Cha-Ching, and the Edge youth savings accounts.

Copyright 2021 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.

Skip the Trip to the Credit Union!

Relax and SAVE money, time, effort and help save our planet by signing up for U$X FCU’s FREE E-Services.

Annual Meeting Reminder

We invite you to virtually attend U$X FCU’s upcoming Annual Meeting. Due to the COVID-19 pandemic, this year’s meeting will be held virtually via ZOOM. Click here for registration information. Members will be able to attend the meeting in-person, however, it is recommended you attend virtually. Occupancy restrictions will allow a very limited number of members to assemble at our hosting facility. If you plan to attend in-person, please email us by visiting our website.

Date: Wednesday April 14, 2021
Time: 6:30 PM
Place: Cranberry Highlands Golf Course: 5601 Freshcorn Road Cranberry Twp. PA 16066

HOW MUCH MONEY WILL YOU NEED IN RETIREMENT? HAVE YOU UNDERESTIMATED?

Presented by Nathan Rodgers

What is enough? If you’re considering retiring in the near future, you’ve probably heard or read that you need about 70% of your end salary to live comfortably in retirement. This estimate is frequently repeated … but that doesn’t mean it is true for everyone. It may not be true for you. Consider the following factors:

Health. Most of us will face a major health problem at some point in our lives. Think, for a moment, about the costs of prescription medicines, and recurring treatment for chronic ailments. These costs can really take a bite out of retirement income, even with a great health care plan.

Heredity. If you come from a family where people frequently live into their 80s and 90s, you may live as long or longer. Imagine retiring at 55 and living to 95 or 100. You would need 40-45 years of steady retirement income.

Portfolio. Many people retire with investment portfolios they haven’t reviewed in years, with asset allocations that may no longer be appropriate. New retirees sometimes carry too much risk in their portfolios, with the result being that the retirement income from their investments fluctuates wildly with the vagaries of the market. Other retirees are super-conservative investors: their portfolios are so risk averse that they can’t earn enough to keep up with even moderate inflation, and over time, they find they have less and less purchasing power.

Spending habits. Do you only spend 70% of your salary? Probably not. If you’re like many Americans, you probably spend 90% or 95% of it. Will your spending habits change drastically once you retire? Again, probably not.

Will you have enough? When it comes to retirement income, a casual assumption may prove to be woefully inaccurate. You won’t learn how much retirement income you’ll need by reading this article. Consider meeting with a qualified financial professional who can help estimate your lifestyle needs and short-term and long-term expenses.

Nathan Rodgers may be reached at 724-779-4895opens phone dialer or 888-219-3159 x4895opens phone dialer.

This material was prepared by MarketingLibrary.Net Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information should not be construed as investment, tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution.

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