Frontwave Newsletter Q4_2023 Final

This is Frontwave Credit Union's Member Newsletter for First Quarter 2019

Briefing Frontwave Credit Union Member Newsletter | Fourth Quarter 2023

Making the Most of the Equity in Your Home

Home values across San Diego, Riverside and San Bernardino Counties have been on what feels like a meteoric rise over the past several years. That’s not just good news for folks looking to sell their home. It’s also good news if you’re happy where you are, because it means you’ve now got more equity in your home. What are the benefits of having equity? Home equity is a powerful financial tool. Simply put, it’s the difference between how much you owe on your mortgage and the current value of your home. So, if your home is worth $500,000 and you owe $300,000 on your mortgage, your equity is $200,000. Think of it like a $200,000 stash of cash that you can borrow against, just like you borrowed to get your mortgage. And because the money you borrow is secured by collateral (your home), the interest rates and terms are generally much better than what you’d get with an unsecured loan like a credit card. What can I do with my home’s equity? The sky is practically the limit! You can use a home equity loan to:

your home. If you’re unable to make your payments, your home could be foreclosed on. Also, while home prices are on the rise today, they could fall in the future. If you use up all of your home’s equity now, you could end up owing more than your home is worth. For these reasons, you should always take a careful look at how much you can truly afford to borrow and how you plan to pay it back. Ready to make the most of your home’s equity? Click here to check rates or apply for a home equity loan or line of credit today! If you have any questions, feel free to give our friendly Home Loan Consultants a buzz at 760.631.8717.

home equity loan allows you to borrow up to 80% of your home’s equity at a fixed rate. You pick the term –10, 15 or 20 years – and you get to borrow your equity all at once. This can be a good option for one-time large expenses. Expecting to have multiple expenses over time – for example, for home repairs or tuition? Our Frontwave home equity line of credit offers the flexibility of borrowing just what you need when you need it, all with one simple application process. What else do I need to know? A home equity loan or line of credit can be a great way to finance big expenses. But you should always keep in mind that what you borrow is secured by

• Finance home renovations or repairs, such as upgrading the kitchen, converting to solar, or replacing the roof

• Consolidate and refinance higher- interest rate debt — with a lower interest rate, more of your payment will go toward paying off the principal, so you can pay off debt faster • Finance an education — for a loved one or yourself How can I tap into my equity? A Frontwave home equity loan or line of credit (HELOC) is just the ticket. Our

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We believe that the journey to financial success is best traveled together, and we’re honored to be by your side. Also, I want to highlight the outstanding work of our Goodie2Crew to support our communities. The Goodie2Crew staff continues to spread joy and smiles everywhere they go. Most recently, they surprised the Wildomar community with free ice cream at Paleta Bar! That’s on top of paying for groceries at a local supermarket, raising funds for the Humane Society, and supporting a commemorative Honor Wall honoring our Service Members at Operation Appreciation earlier this year. And they’re just getting started. We encourage Members to follow along on social media to stay updated on their surprise visits. It’s just one of the many ways we give back and reinforce our commitment to being a “force for good” in the communities we serve. Construction of the Frontwave Arena is moving forward at a brisk pace and we anticipate a grand opening in the second half of 2024. We couldn’t be more proud of what this facility represents. It will serve as a community hub, bringing numerous entertainment and sporting events to Oceanside and all of North County. We look forward to creating even more opportunities for connecting with our amazing communities as we work towards the official grand opening. As we head into the final months of the year, let’s continue making waves together, reaching for new heights, and celebrating milestones along the way. Because when we come together, there’s no limit to what we can achieve. Thank you for being a part of the Frontwave crew and remember, WE

When we say we want to do everything we can to make your Frontwave experience great, we mean it. We value the feedback you give us, and take action to make improvements. Thanks to your input: • We launched a new Quick Apply Experience for adding a Savings Account to an existing membership instantly. We’re not the only ones excited about this latest update. Check out some of the feedback we’ve received in our Member survey: You Spoke. We Listened!

Notes from the CE0

Bill Birnie, President/CEO This summer has been one for the record books! I am thrilled to share all the amazing things we’ve accomplished and some of the exciting things on the horizon. First, congratulations to all the lucky winners of our Summer of Fun Visa giveaways! Our Frontwave Visa Credit/ Debit card holders had the chance to win some incredible prizes over the summer, and, without a doubt, the excitement was palpable. The lucky Frontwave Members walked away with free gas for a month, a 4-pack of Disney tickets plus $500 spending cash, a whopping $3,500 vacation getaway, and even $500 weekly grocery giveaways! But our commitment to you extends far beyond giveaways. At Frontwave, we are dedicated to helping you achieve your financial goals. Whether it’s providing credit options tailored to your needs, offering competitive loan rates, or guiding you through your home purchase. We’re here to help you make your financial dreams come true!

Excellent banking app! Does everything I need it to do.

– Dan L

Solid app. It doesn’t crash, easy access to pay my credit and monitor my bank. – Andrew C

We’re constantly working to improve and innovate, finding new ways to make your digital banking experience smoother and easier. If you have feedback for us, we want to hear it! The next time you get a survey from us, we really appreciate you taking a few minutes to tell us how you feel. Thanks for your Membership! Stay in Touch We love connecting with our Members, sharing how we’re supporting our communities, and saying thank you for your Membership with special giveaways! Join our social media communities to get the latest on Frontwave news and happenings, financial education tips, chances to win great prizes, and more.

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which collectively could sharply reduce the amount you retain. Option 4: Transfer into an IRA You can also roll all or part of your money into an Individual Retirement Account (IRA). If you do so within 60 days, you’ll avoid both penalties and withholding taxes. An IRA offers continued tax deferral for retirement, though you should check to see whether fees or commissions will be assessed. Depending on your circumstances, the money that you accumulate in an employer’s plan may be a major source of retirement income. How you choose to manage it can have a profound impact on your retirement savings. Discussing the options with a financial professional can help maximize your savings. Kathy or Niko may be reached at 760.439.6960, Looking to Save on Your Insurance? Do your insurance premiums keep going up every year? Frontwave Insurance Services can help! A one- stop shop for all of your insurance needs, Frontwave Insurance Services can find the best insurance for you at the best price. Get a free, no obligation insurance quote by visiting frontwavecu.com/insurance or calling 844.788.0820. • Auto Insurance • Motorcycle Insurance kathy.chesney@lpl.com or niko.z.pandeleos@lpl.com.

MANAGING YOUR RETIREMENT

PLAN WITH A NEW JOB

Provided by Kathy Chesney, ChFC, CLU and Niko Pandeleos, Associate Financial Advisor To maximize your savings, understand your options – if any – for your retirement plan when you switch jobs. Changing jobs can impact your retirement plan. To minimize

Typically, annual distributions must begin after you reach age 73. Option 2: Let ‘Er Roll You can transfer the money into your new employer’s plan, which continues your tax-deferred growth potential. However, there may be rules associated with rolling over your money. Review your new plan and restrictions carefully before selecting this option. If you take money out, withdrawals will be taxed at current rates, with those made before you reach age 59 1/2 subject to a 10% additional federal tax. Option 3: Cash Out You may elect to withdraw your money in cash either in a lump sum or in installments, though you’ll face tax consequences: Distributions incur a 20% federal withholding as well as standard income tax. And if you’re under age 59 1/2, you’ll pay an additional 10% federal tax. State and local taxes may also apply,

disruptions to your contributions and the vested portion of your previous employer’s contributions, it’s important to understand the choices you may have when you make a career transition. We offer the following key considerations: Option 1: Stay Your previous employer may allow you to keep the money in your plan, an attractive option that keeps things undisturbed while allowing you to accumulate tax-deferred earnings potential. While you cannot make further contributions, you still maintain control of how the money is invested.

• Home Insurance • Renters Insurance • Life Insurance • Pet Insurance • And More!

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

Insurance products are offered through Frontwave Insurance Services, LLC, a subsidiary of Frontwave Credit Union. Insurance offered is not a deposit and is not federally insured or issued by or guaranteed by Frontwave. Insurance may be required as a condition of credit for some Frontwave loans and may be purchased from an agent or insurance company of the member’s choice.

Not Insured by NCUA or Any Other Government Agency

Not Credit Union Guaranteed

Not Credit Union Deposits or Obligations

May Lose Value

Representatives are registered, securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC , a registered broker/dealer and investment advisor, which is not an affiliate of the credit union. 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. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America.

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Local Lowdown

UPCOMING EVENTS

Bike the Coast Join us at Bike the Coast on November 4 and bike along the beautiful coastline from Oceanside, through Carlsbad, Encinitas, Solana Beach, and Del Mar. Then, return to Oceanside to cross the finish line and celebrate with a post- race party at the Oceanside Pier with food, craft beer, live music, and vendors. Turkey Trot We invite you to come “move your feet before you eat” and join us at the 2023 Oceanside Turkey Trot to be held on November 23! The event offers a costume contest, the largest teams competition, fabulous live entertainment on the course, and finisher medals for all participants. ASYMCA Santa’s Workshop In the spirit of giving, we’ll be partnering with Camp Pendleton’s ASYMCA to support military families this holiday season through its Santa’s Workshop Program. This three-day event gives military families the opportunity to shop for presents from unused, donated toys. Having been founded as Camp Pendleton Federal Credit Union in 1952, our military roots run deep, and local military families are at the heart of who we are and what we do.

PAST EVENTS

Super Girl Surf Pro Competition

Beach Soccer We had a great time at the 2023 Beach Soccer Championship, a family-friendly event that benefits youth soccer. This year, we not only sponsored the event but also awarded some local soccer players with our Frontwave Saves award! Congrats again to Penelope from the O’side Breakers G15 team and Xavier Snaer-Williams of the San Diego Sockers for helping lead their teams to victory. Oceanside Museum of Art We’ve been a long-time supporter of the Oceanside Museum of Art (OMA) which showcases the art and stories of Southern California artists right here in Oceanside. Through our sponsorship, all Frontwave members are eligible to receive 10% off admission and gift store purchases. OMA also participates in the Blue Star Museum Program, which gives active-duty members and their immediate families free admission to the museum! There’s always something new and fresh at the OMA, so if you haven’t been lately, be sure to check it out!

We had a blast at the Super Girl Surf Pro Competition on September 22-24, 2023, in Oceanside! Super Girl is the largest women’s surf, lifestyle, and music festival, attracting top professional surfers worldwide. We were proud to sponsor this event that aims to inspire and empower the next generation of female leaders, not only in surfing but in all walks of life. ASYMCA Ball Gown Giveaway In partnership with the Armed Services YMCA (ASYMCA), we proudly returned as a sponsor of this year’s ball gown giveaway in September. We were pumped to be back with our non- alcoholic bubbly bar to give a special shopping experience to the men and women who stopped by to pick up a free ballgown or suit for the 2023 Marine Corps Ball. We also randomly selected 20 VIPs to receive a $100 Visa gift card to help prepare for the big event.

UPCOMING HOLIDAYS

CONTACT US

STATISTICAL REPORT As of August 31, 2023 Members: 126,082 Assets: $1,404,361,514 Total Shares: $1,212,299,438 Loans Outstanding: $942,346,831

Frontwave will be closed in observance of the following holidays this quarter:

Express Line 800.829.7676 Member Solution Center 760.631.8700 or 800.736.4500 Mon-Fri: 7am – 6pm, Sat: 9am – 4pm Autoland 800.234.6999 Enterprise Car Sales 800.CAR.SALES GreenPath Financial Wellness 877.337.3399 Frontwave Investment Services 760.439.6960 Frontwave Insurance Services, LLC 844.788.0820

Columbus Day Monday, October 9, 2023 Veteran’s Day Saturday, November 11, 2023 Thanksgiving Thursday, November 23, 2023 Christmas Day Monday, December 23, 2023

As always, Express Line, Online Banking, Mobile Banking, and ATM services are available to you 24/7.

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