SPRING 2020Enlighten

4 - How to Weather a Possible Recession | 6 - Brand Ambassadors

2 - CEO Message | 2 - Horizon Cares | 3 - Spring Clean Your Finances

horizonfcu.org

Branch lobbies are available for transactions by appointment. Contact us to make an appointment.

Williamsport Branch: 570-326-3636 x109

Lock Haven Branch: 570-326-3636 x302

Email: info@horizonfcu.org

Appointments Available

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Horizon Cares

Things sure have changed since the last edition of Enlighten.

At the end of January we had just finished putting away our holiday decorations. We were in the middle of basketball and hockey season and anxiously awaiting the start of baseball. Inside the credit union, we were finishing promotions for the Home Show, organizing Home Buying Seminars throughout the year, and had just received the custom candy bars we provided for Valentine's Day.

They say bad times bring out the best in people. I have seen that firsthand over the past few weeks. I am so proud of how our staff has responded. Our leadership team worked long hours to create and implement our Horizon Cares program to assist individual members and businesses facing financial hardships caused by COVID-19. Our staff has been working rotating schedules to practice social distancing while still ensuring continuity of our essential business operations. We are effectively processing transactions in the branches via the drive-thru lanes, decisioning and funding loans, opening accounts, answering the phone, and

communicating and educating our members through email and social media.

I am also grateful for and proud of how our members have responded during this challenging time. You have been embracing online, mobile, and other electronic banking services, which helps manage the volume in the drive-thru lanes and call center. I can't count the number of calls, emails, and Facebook messages of understanding, support, and appreciation we have received.

There truly is strength in numbers, and we will push through this together. Our vison is, and will cont inue to be, providing a brighter financial future for our staff, members, and surrounding communit ies. If there is anything we can do to assist, please call us at 570-326-3636 or email us at info@horizonfcu.org.

Justin HowardPresident & CEO

A Message from Our CEO Regarding the Changing Environment

On March 26, Horizon initiated our Horizon Cares program to assist members and businesses impacted by the COVID-19 pandemic. Many members have taken advantage of this program since its inception: deferring loan payments, refinancing existing debt, and accessing much-needed funds through low-rate loans.

We realize members' situations change weekly, and members who were not in need of assistance when we first announced the program may be in need of it now. All of the information, including the required loan relief application, is available on our website: horizonfcu.org/horizon-cares.

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Spring Clean Your FinancesAfter a year of spending, saving, paying off bills, and racking up rewards points, your financial life can get a little messy. Now is a great time to regain control of your finances. When you de-clutter your accounts, paperwork, and budget, you?ll find it?s a lot easier to make the most of your money.

Roll up your sleeves, dust off your statements, and follow these tips for finances that sparkle:

- St reamline your banking. Close up old accounts, switch to online bill pay, and sign up for e-statements to reduce paper waste. Shred year-old bank statements, expired warranties, old Social Security statements, and tax documents more than seven years old.

- Consolidate your debt . Consider rolling all of your high-interest payments into one low-rate personal loan. Close credit cards you don?t need and create a payment strategy to lower your debt. Plan to pay off credit cards with the highest interest rates first.

- Organize your savings. Many households have multiple savings accounts, including IRAs, CDs, and 401(k)s. Consider moving all your savings plans to one bank and consolidating all IRAs to one account. Talk to your employer about moving old 401(k) accounts into the one at your current job or rolling them to a self-directed IRA. Finally, increase your 401(k) savings so, at a minimum, you are saving enough to earn a full match from your employer.

- Plan your estate. Update or create your will. It?s a fairly easy and inexpensive process people often put off for obvious reasons. If you have any property (car, house, land, flat-screen TV, etc.), a will prevents lengthy legal battles and guarantees the right people receive your belongings upon your passing.

Need help t idying up? Give us a call; we?d be more than happy to help you clean

up your finances!

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How to Weather a Possible RecessionThe current pandemic creates economic uncertainty for the future. Many economists predict we are on the cusp of a recession. You can help safeguard your financial future with these frugal tips.

Protect your job: If you suspect your company may be downsizing, don?t give them a reason to make you one of the casualties. Prove you are worth keeping around by going above and beyond.

Prepare for a layoff: Even if you work hard to keep your job, layoffs are sometimes inevitable. Planning ahead never hurts, so beef up your resume and keep in touch with acquaintances in your industry.

Find ext ra income: Turn a hobby into a business or look for unused items you could sell online. Take advantage of any opportunity to increase your cash flow. Better yet, put any extra cash you make into paying bills and reducing debt.

Reduce general expenses: Cut out coupons, set a budget, reuse items, or buy generic ? any way you can cut down on spending is helpful. Consider switching your cell phone provider, reduce your electricity use, and eat out less.

Refinance loans and credit cards: If your interest rates are sky-high, look into refinancing. Lower rates can save you hundreds, maybe even thousands, of dollars over the course of a year.

Ut ilize your credit union: Horizon offers low rate loans, accounts with no minimum balance or monthly service fees, and additional products and services that can save you money. Horizon is here to help you weather the storm and guide you towards a brighter financial future. Call or visit us today to find out how we can help.

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Marriage and Money ? The Joining of Assets and DebtsMarriage unites two people and their lives ? as well as their assets and debts. Before you head to the altar, consider how much you actually know about their financial habits. Money can be a hugely emotional topic, but by working together and being honest about your finances, you may actually strengthen your relationship and your marriage.

Here are a few things to consider before and after taking the plunge.

- Know each others? credit history. It?s not the most romantic topic, but credit scores affect future loan eligibility, housing, and possibly employment. If your significant other has a low credit score, it will affect your future. If this is the case, discuss it before getting married and take steps to resolve your future spouse?s credit issues.

- Discuss the idea of a prenupt ial agreement to establish who gets what and set guidelines in the event your marriage doesn?t work out . Even if you?re confident, it?s better to have a prenup and never have to use it than to not have one and find yourself fighting over Fido.

- Take turns balancing the checkbook. You?ll both get a better idea of where you?re spending money.

- Decide on one place to store financial papers. No matter where you decide to keep them, things like wills, insurance policies, and the deed to your home should all be kept in one place.

- Make sure you both know the names of your financial service providers, how much you have in your investment accounts, and how the money is allocated. Just because you don?t actually DO the investing doesn?t mean you shouldn?t know where your money is going.

- Decide on credit cards and checking accounts. Will you have separate cards/accounts for your personal use and one joint card/account for shared costs? Or will you both share one? Discuss what will work best for your lifestyle and goals, and re-evaluate down the line as needs and finances change.

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Judy from Third Street was recognized for her initiative in assisting a member who she was connected to on social media. Judy took note when the member posted she was in dire need of a new car transmission. The member was without a car for weeks because she lacked the money for the repair. Judy sent the member a private message and arranged for her to come into the branch for a loan. The member was approved for the loan, got the new transmission, and lauded Horizon on Facebook for coming to her rescue.

Meet our Brand Ambassadors

Hannah from Third Street was recognized by a member for her consistent cheerful demeanor and helpful attitude. The member had visited the branch the week prior to perform a transaction, and Hannah was explaining the benefits of being with Horizon, with the most upbeat personality he had seen. The member stated that he doesn't receive that positive reception from his " other bank," and it made him come in that day to open an account at Horizon!

Each quarter, Horizon recognizes employees as Brand Ambassadors: individuals who actively demonstrate our

core values and encompass our RISE standards of Respect, Inform, Solution, and Energy.

Congratulat ions to Judy Harris and Hannah Thomas for being recognized as Horizon Brand Ambassadors for the month of February!

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7 Home Improvement and Remodeling Ideas that Increase Home Value

1. Remodeling the Kitchen. Updates to the kitchen pay off. Most people just want quality, serviceable appliances. A new coat of paint and energy-efficient appliances can go a long way.

2. Bathroom Addit ion. If your home only has one bathroom, you can recoup a large chunk of your investment by adding another one. Take a look at any extra rooms or underutilized spaces. Keep in mind, a half-bath requires at least 18 square feet and a full bath requires at least 30-35 square feet.

3. Reinvent ing a Room. Instead of adding square footage, you could save money and add value by reinventing an existing room. Finished attics and basements make great craft or game rooms, second living rooms, or even small apartments.

4. Adding Energy-Efficient Windows. Old, drafty single-pane windows are a major turn-off for buyers and can cost you a lot in heating and cooling costs. By adding energy-efficient windows, you could save up to $500 a year!

5. Deck Addit ion. Outdoor living spaces have become more desirable, especially since more people stay home for vacation.

6. Energy-Efficient Insulat ion. Homes that haven?t been modified with energy efficiency in mind cost more to live in and maintain. Adding insulation to your attic, sealing cracks, and installing a programmable thermostat can make your house more appealing while saving you hundreds each year on bills.

7. Basic Updates. Basic updates add the most value to your home. Keep the paint fresh, fix the roof when it leaks, get rid of any mold that you find, etc. Routine maintenance keeps your house solid and safe.

Source: https:/ /www.moneycrashers.com/7-home-improvements-to-increase-its-value/

Need help with funds?

Check out our low-rate Home Equit y Loan!

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Williamsport Branch 1007 East Third StreetWilliamsport, PA 17701

Lock Haven Branch217 West Bald Eagle StreetLock Haven, PA 17745

horizonfcu.org 570-326-3636

Important DatesMonday, May 25 ? Memorial Day (closed)

Friday, July 3, and Saturday, July 4 ? Independence Day (closed)