Frontwave Briefing | Second Quarter 2020

Briefing Frontwave Credit Union Member Newsletter | Second Quarter 2020

when you stay disciplined and keep adding to it little by little as your income grows. One of the cornerstones of saving money is understanding the time value of money. Time is your best friend! The earlier you start and the longer you practice saving – the bigger your stash will be. The same goes for retirement and investing! If you’re eligible for the Military Blended Retirement (MBR) system or your employer offers a retirement plan such as a 401K, you should aim to save 10-15% of your income. If you can’t afford to save that right now, that’s ok. Saving even 1% is better than nothing. MBR and most employers have a 401K match, so you should (at a minimum) be putting enough into the plan to maximize the employer match. If you don’t, you’re literally throwing money away – and that’s not a good thing! To encourage and support a habit of regular savings, each year, Frontwave participates in the America and Military Saves programs by offering special 12-month Saver Certificates at rates that are well above market. Members can deposit up to $500 into their Saver Certificate each month for one year and watch their savings rack up with our special, extra high dividend rate. In the first few weeks the special Saver Certificates were available this year, over 2,400 Members joined in and have already saved over $1.2 Million. The promotion runs through April 30, 2020, so there’s still time to get in on the action! Our Frontwave Dream Makers are rising to the challenge! We are committed to fighting for our Members and helping you achieve your financial goals. We understand that these are uncertain times, and realize that the coronavirus may impact the financial health of some of our Members. If you’re impacted, we’ve got ways to help. We have a lot of great information in this edition of our Frontwave Briefing to help you navigate these uncertain times. We want you to know that we are here to help you with a number of

Financial Assistance Programs including skip payments, loan extensions, mortgage forbearance, financial assistance loans and more. Most of our branches and our Member Solutions Center remain open. Please keep an eye on our website for ongoing updates as we navigate these times. We encourage everyone to access your account using online banking and our mobile app for your everyday needs. Please know that our dedicated Frontwave Dream Makers are working incredibly hard to be available to you as quickly as possible. I look forward to the day, when this crisis has passed, that we can pause and reflect on the differences we have made in our Members’ lives and relish that “delicious fatigue” earned through long, hard work to do the right things – together. As always, thank you for your Membership. Online banking and our mobile app are the easiest ways to access your account, check balances, deposit money, transfer funds and pay bills without the need for cash – or a visit to the branch. You have 24/7 access to: •View and manage all transactions, balances, and other important account details. •Deposit checks using mobile and remote deposit. •Use Bill Pay to pay off credit cards, loans, utilities, bills, and even set up recurring payments. •Move funds easily between accounts. Login today at frontwavecu.com, and download our Mobile App from the App Store and Google Play™. Have you used our digital banking tools lately?

Bill Birnie, President/CEO Notes from the CE0 As I write this, heightened warnings of coronavirus (COVID-19) are leading to reports of shortages on toilet paper, bottled water, cleaning supplies and other household staples. Why? Because people are preparing. And, while fighting over TP seems a bit extreme, you have to admit, being prepared is a good thing. What we do is absolutely critical to the well-being of YOU – our Members and your families. You entrust us to keep your money safe and available. You look to us to care for your families, meet your needs, and pursue your dreams. This is our “WHY” – our purpose! That’s our philosophy. And when it comes to saving, we want our members to make a commitment to it and prepare. Times like these remind us of the need for emergency savings. The general rule of thumb is to have 3-6 months of living expenses saved in an easily accessible account. We want to help you get there. Feel like you don’t have any extra to save? You do! Start small... Even if it’s only $10 a paycheck. You’d be surprised how your savings can grow

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