Winter 2023 Newsletter

Where Dreams are Made

Make Your House a Home with a Home Equity Line of Credit!

12-month initial rate as low as
 5.49% APR*
 variable interest rate thereafter

*APR = Annual Percentage Rate. 5.49% Introductory APR offer available for new lines of credit only for the first twelve (12) months from closing date.These rates are adjusted on a quarterly basis and are indexed to a Prime Rate published in theWALL STREET JOURNAL (WSJ). Rate adjusted effective October 1, 2023 based on the WALL STREET JOURNAL. Prime rate is (8.50%) as of September 20, 2023 in accordance with loan terms. *Maximum adjustment is 2% in a calendar year. Rate cannot go below 4.00% Minimum Real Estate secured loan amount $10,000. Property must be owner occupied and primary residence, geographical restrictions may apply. All loan approvals are subject to normal loan under writing guidelines. Offer expires March 31, 2024. Programs, rates and conditions are subject to change at any time. **U$X FCU pays all closing costsranging from $100 to $1,500. See local credit union office for all details.

Presidents Message

As I get older, the years seems to fly by faster and faster. 2023 was no different!

USX FCU is over a year removed from our data processing conversion and by all accounts, our staff and members have adjusted very well. Our staff is now learning the finer points of our system that can help us serve members better, faster and more efficiently. The capabilities of the system help USX FCU operate more efficiently and with greater accuracy.

I have been in banking my entire career and have never experienced the interest rate environment we had in 2023, and it is extending into 2024. The Federal Reserve increasing interest rates by over 500 basis points is unprecedented and it has affected all of our lives tremendously. In this environment, our credit union has had to change, adjust and plan so that we would operate safely but continue to offer our members the loans and investment opportunities that would either help save them money or make them money. I believe we’ve been successful at that goal and will continue to do so in 2024.

Moving into 2024, USX FCU will continue to upgrade and streamline our services to members. First on the list is our conversion to the “Optis” system for our credit card processing from Fiserv. If you are a Visa credit card holder, starting with your 2024 statement, you will notice a new statement design for both paper and electronic statements. You will also notice enhanced capabilities with the Visa online statements.

Also, if you utilize our credit cards, you will now receive text messages notifying you of potential fraudulent transactions on your account(s). You will be automatically enrolled, so there is nothing for you to do. By texting, you will be notified of a suspected fraudulent transaction within 30 seconds to verify the transaction.

One other exciting project our team is working on is our move to a new location for our Greensburg office. Due to major construction projects at the Independence Healthcare Westmoreland Hospital, our current office location will be demolished. The hospital has provided USX FCU an excellent office location just off the main lobby of the hospital. Our new office estimated completion date is planned for late February. The office will be full service and we’ll be adding an ATM that should be operational in late spring. Visit our website for more details as we get closer to the completion of our new office construction.

These are just a few of the new and exciting projects our credit union is working on for 2024. As we progress through the year, I’ll bring you more information on other new projects USX FCU is working on to make your banking experience the best it can be. In the meantime, along with myself, our Board of Directors and Staff, we wish you and your family a Happy and Healthy New Year.

Mark A Volponi
President and CEO

Mark Your Calendar

2024 will mark the 86th year that USX FCU has provided members with advantages in every aspect of their financial life and the confidence of financial security. We invite you to attend USX FCU’s upcoming 85th Annual Meeting.

This yearly event is your chance to hear about the credit union’s successes in the past year and the challenges facing it in the future. Many important decisions are made regarding your credit union at the Annual Meeting each year. You can have a say in those decisions by attending and voicing your opinion. This opportunity only comes along once a year…don’t miss out on it!

Date: Wednesday April 17, 2024
Time: 6:30 PM
Place: Cranberry Highlands Golf Course.

Notice of Election

Notice is hereby given that three Directors will be elected to the USX Federal Credit Union Board of Directors at the 2024 Annual Meeting. The following three people have been nominated for election by the Nominating Committee:

John E. ( Jack) Toth – Mr. Toth retired from US Steel Corporation in 1999 after more than 36 years of service holding various positions in the Accounting, Metallurgical and Logistic Services Departments. He served in the Army Reserves from 1963 to 1969 and Honorably Discharged as SGT E-5. He is a graduate of Robert Morris College and the University of Pittsburgh. He has been actively involved with our credit union for 50 years. His involvement began in 1973 as a member of the Supervisory (Auditing) Committee. He was chairman of that committee for 18 years, elected to the Board of Directors in 1982, serving as Vice President for 10 years and has served our members as Board Chairman for the past 24 years. He serves on various committees and represents our credit union as a member of NACUC, the National Association of Credit Union Chairman and was the recipient of the prestigious National Association of Credit Union Chairman’s Leadership Award in 2017.

James D. Settelmaier – Mr. Settelmaier has served as a volunteer of the USX Federal Credit Union since 2001.   In 2005 he was appointed to the Board of Directors where he has served on the Supervisory, Human Resources, Asset Liability and Membership committees.  Mr. Settelmaier is a graduate of Saint Vincent College, and received an MBA from Point Park University.  Mr. Settelmaier was employed by US Steel Corporation for 20 years where he worked in Cash & Banking, Audit and Internal Controls.  He currently works as Senior Internal Auditor for Industrial Scientific Corporation.

Christopher D. Panian – Mr. Panian is the Commercial Accounts Manager for Central Electric Cooperative in Parker, Pennsylvania. Mr. Panian has worked in the electric utility business for 32 years holding various positions with electric utilities and related businesses.  Mr. Panian holds a BA degree from the University of Pittsburgh and has been associated with the Board of Directors as an Associate Director and Director since 2007.

Additional nominations for election to the Board were solicited from the membership in the Fall 2023 issue of the newsletter USXtra. No additional nominations have been received. Accordingly, election of the nominees will be affirmed at the meeting.

No nominations will be accepted from the floor during the Annual Meeting.

Mashawn A. Lorenz, Secretary
December 26, 2023

Wake Up Your Dormant Accounts!

USX Federal Credit Union is required to report Unclaimed Property (escheat) to the Pennsylvania and Ohio Department of Revenue for accounts that have been “dormant” in accordance with state law. An account is considered dormant if there have been no member initiated withdrawals, deposits or transfers made during this period. The best way to be safe is to WAKE UP your account by making a deposit and watching your USX FCU accounts grow. If you are unsure of the status of your account, please contact your local office by calling 1-888-219-3159.

Student Scholarships Available

The following credit union chapters will be offering student member scholarships for 2024.

  • The Beaver Valley Chapter of Credit Unions plans to offer three $500, one $1,000 and one $1,500 scholarships.

If you are a USX Federal Credit Union® student member, you may qualify.

Scholarship requirements:

  • Applicant must complete and submit a typed or printed Beaver Valley Chapter scholarship application and provide the requested information on the application
  • All Beaver Valley Chapter applications and required information must be sent to the address indicated on the application and received no later than March 1, 2024. NOTE: Other requirements for each individual scholarship offer are listed and explained on the respective application.


To receive the application information for the student scholarships please contact Tim Wojtaszek via email



MGM Resorts International is an American hospitality and entertainment organization. A few months ago, MGM made headlines with the news of a cyberattack costing over 52 million dollars in lost revenue. Nearly all of MGM’s hotels, casinos, and ATMs went offline. This massive attack started with a simple social engineering scam.

Using information found on a LinkedIn post, a cyber criminal impersonated an MGM employee and called their IT department. They asked to have their password reset, and the IT department reset the employee’s password. This gave the cybercriminal access to the employee’s account and eventually led to the cybercriminal taking over MGM’s entire system. This is a great example of why it’s important to learn how to protect yourself and others from similar attacks.

Follow the tips below to stay safe from similar scams:

  • Be careful with the information you share about yourself online. Cybercriminals can use this information to target you in phishing attacks. 
  • Confirm that the person you’re speaking to is actually who they say they are. Try reaching out to them using another form of contact or by meeting with them face-to-face.
  • Be suspicious of emails, texts, and social media posts that contain shocking information about this event. These may lead to disinformation, which is false information designed to mislead you.


The KnowBe4 Security Team – – STOP, Look and Think….Don’t Be Fooled

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