eNewsletterApril - June 2014

The 73rd Annual Meeting of Austin Telco Federal Credit Union was held on March 20, 2014, at The North Austin Event Center in Austin, Texas. Chairman, R.B. Smith, called the meeting to order at 7:00 P.M. Reports were made by the Chairman of the Board, R.B. Smith, the Treasurer Charlene Spillmann, the Supervisory Committee Chairman Fran Berns, and the President/CEO, James Poplin. No old or new business was presented at the meeting. The election of directors was conducted by acclamation and Charlene Spillmann, Larry Lantrip and Liz Heiling were elected to three-year terms. $5,500 in cash door prizes (including $500 in the children’s drawing) was awarded.

One of Telco’s young members accepting her cash prize from Pamela Cotton (VP, Member Services) and Robert Hernandez (SVP, Finance).

Instant Issue Need your Austin Telco VISA now? Get your Austin Telco VISA card instantly for Free! Aus-tin Telco VISA debit and credit cards are produced at all full service branches. Members can instantly receive their Austin Telco VISA card and customize their PIN. Your new card will be activated instantly. If your cards are lost or stolen, you can get a replacement in a matter of minutes. You will be able to choose from a variety of images for your new card.

Pictured left to right: David Westlund (Secrectary of the Supervisory Committee), Fran Berns (Chairman of the Supervisory Committee) and Paul Paulsen (Vice Chairman of the Board of Diectors).

Pictured left to right: James Poplin (President/CEO) and Larry Lantrip (Secretary of the Board of Diectors).

• 2014 Annual Meeting

• Instant Issue

In This Issue

• Do’s and Don’ts when applying for a Mortgage

• ABCs of IRAs

• Card Fraud Prevention Tips

Mark Your CalendarsAll ATFCU locations will be closed in observance of :

Memorial DayMonday, May 26th

2014 Annual Meeting

Helpful Do’s & Don’tsWhen applying for a Mortgage

DO ...• Keeporiginalsof allpay-stubs,bankstatementsandotherimportantfinancialdocumentation.Wearerequired

to update any documents that are more than 90 days old prior to the closing of your mortgage loan. (This is requiredevenif yourloanisapproved.)

• Provide all documentation for the sale of your current home, including sales contract, closing statement, employer relocation/buy-out program if applicable.

• NotifyyourLoanOfficerif youplantoreceivegiftfundsforclosingcosts.

• NotifyyourLoanOfficerof anyemploymentchangessuchaschangeof employer,recentraise/promotion,transfer, change of pay status, for example salary to commission

• Be aware that opening new lines of credit could affect the approval of your loan.

DON’T ...• Changejobs/employerwithoutinquiringabouttheimpactthischangemighthaveontheapprovalof your

loan.

• Make major purchases during or prior to closing, such as a new car, furniture, appliances, etc. as this may impactyourqualificationratios.

• Obtain and/or deposit unusually large sums of money without notifying your Loan Officer. Many loanguidelinesrequiredocumentationastothesourceof thesefunds.

• CloseoropenortransferanyassetaccountswithoutaskingyourLoanOfficerabouttheproperdocumentationrequiredforyourloanfile,e.g.transferringallthefundsinyourcheckingaccountintoyoursavingsaccount.

• Open or increase any liabilities, including credit cards, signature loans or other credit lines during the loan processasitmayimpactyourqualifyingratios.

Statistically Speaking As of February 28th, 2014

Number of Members73,071Loans$452,646,105

Number of Checking Accounts41,507Deposits$1,147,107,529

Capital

$131,476,444Assets$1,274,887,968

For more information contact:Mark Crowley512-302-5555 Ext. 7388NMLS # 458989

ABCs of IRAsThis popular retirement savings vehicle comes in several varieties.

TraditionalIRA(ordeductibleIRA) is an individual savings plan for anyone who receives taxable compensation. IRA assets may be invested in any number of vehicles, and contributions may be tax-deductible. Earnings in a traditional IRA grow tax-deferred until withdrawal, but will be taxed when withdrawal begins - and withdrawals must begin by the time the IRA owner reaches age 70½.

Roth IRA offers you tax-free compounding, tax-free withdrawals if you are older than age 59½ and have owned your account foratleastfiveyears,andthepotentialtomakecontributionstoyourIRAafterage70½withouthavingtotakeRMDs.

SIMPLE IRAsarequalifiedretirementplansforbusinesseswith100orfeweremployees.

SEPstandsforSimplifiedEmployeePension.ThesetraditionalIRAsaresetupbyanemployerforemployeesandfundedbyemployer contributions only.

Spousal IRA is actually a rule that lets a working spouse make traditional or Roth IRA contributions on behalf of a non-working or retired spouse.

Inherited IRAisaRothortraditionalIRAinheritedbyanon-spousalbeneficiary.

Group IRA is simply a traditional IRA offered by employers, unions, and other employee associations to their employees, administered through a retirement trust.

Rollover IRA.AssetsdistributedfromaqualifiedretirementplanmayberolledoverintoatraditionalIRA,whichmaybeconverted later to a Roth IRA.

EducationIRA(CoverdellESA) provides a vehicle to help middle-class investors save for a child’s education.

ConsultaqualifiedfinancialadvisorregardingyourIRAoptions.Therearemanychoicesavailable,anditisvitalthatyouunderstandhowyourchoicecouldaffectyourfinancialsituation.NooneIRAisthe“right”IRAforeveryone,sodoyourhomework and seek advice before you proceed.

Eric LindnerFinancial Advisor512-407-3114elindner@swbc.com

Doug MitchellFinancial Advisor512-407-3115dmitchell@swbc.com

What don’t you know? Many Americans know about Roth and traditional IRAs …butthereareothertypesof IRAs.Here’saquicklook:

Card Fraud Prevention TipsIncorporating a few practices into your daily routine can help keep your cards and account numbers safe. For example, keep a record of your account numbers, their expiration dates and the phone number to report fraud for each company in a secure place. Don’t lend your card to anyone — even your kids or roommates — and don’t leave your cards, receipts, or statements around your home or office. When you no longer need them, shred them before throwing them away.Other fraud protection practices include:

• Don’t give your account number to anyone on the phone unless you’ve made the call to a company you know to be repu table. If you’ve never done business with them before, do an online search first for reviews or complaints.

• Carry your cards separately from your wallet. It can minimize your losses if someone steals your wallet or purse. And carry only the card you need for that outing.

• During a transaction, keep your eye on your card. Make sure you get it back before you walk away.• Never sign a blank receipt. Draw a line through any blank spaces above the total.• Save your receipts to compare with your statement.• Open your bills promptly — or check them online often — and reconcile them with the purchases you’ve made.• Report any questionable charges to the card issuer.• Notify your card issuer if your address changes or if you will be traveling.• Don’t write your account number on the outside of an envelope.

Capital

$131,476,444Assets$1,274,887,968

eNewsletter EditorKatrina Levenick, Director of Marketing

Federally Insured by NCUA

ManagementJames D. Poplin, President/CEORobert Hernandez, SVP, Finance/CFOTony Rawls, SVP, Lending/CLOKaren Smith, SVP, HR & Branch OperationsChristopher Mraz, VP, Information Technology/CIORaye Anne Cawthon, VP, AccountingJim Howey, VP, LendingPamela W. Cotton, VP, Member ServicesKathleen Miller, AVP, Administrative ServicesSandie Peña, AVP, Branch OperationsGeorgia Hayes, AVP, Information Technology

Board of DirectorsPaul Paulsen, ChairmanCharlene Spillmann, Vice ChairmanR.B. Smith, TreasurerLarry Lantrip, SecretaryJoyce Howell, Security/Safety OfficerSteve Read, Membership Officer Liz Heiling, Member

Supervisory CommitteeFran Berns, ChairmanDavid Westlund, SecretaryJoe Bain, MemberPaul Tidrick, MemberLarry Lantrip, Board Liaison

Regular HoursMonday & Friday All Lobbies 9:00 AM - 6:00 PM All Drive-Thru's 7:30 AM - 6:00 PM

Tuesday, Wednesday & Thursday All Lobbies 9:00 AM - 4:00 PM All Drive-Thru's 7:30 AM - 6:00 PM

Saturday Select Lobbies* 9:00 AM – 1:00 PMAll Drive-Thru’s 9:00 AM – 1:00 PM

*La Frontera, Taos, Leander, Bastrop, Pecan Park, Brodie Lane, Georgetown, Lakeway, Cedar Park, Buda, San Marcos, Stone Hill, Tech Ridge, Taylor, Lockhart and University Oaks

Contact Information

Mailing AddressAustin Telco Federal Credit Union8929 Shoal Creek BlvdAustin, TX 78757

Phone NumbersAustin Metro Area: (512) 302-5555Toll Free: (800) 252-1310

Email ContactsGeneral Mailbox: atfcu@atfcu.orgQuestions, Comments, concerns: memberfeedback@atfcu.orgMemberConnect Help: techsupport@atfcu.orgBill Pay Help: billpayservices@atfcu.org

Department ExtentionsBookkeeping: 7190Loan Department/Member Services: 7194Administrative Office: 7000