Frontwave Briefing | First Quarter 2023

This is Frontwave Credit Union's Member Newsletter for First Quarter 2023.

Briefing Frontwave Credit Union Member Newsletter | First Quarter 2023

Making Your Money Work for You During Times of Inflation

Inflation reached a 40-year high last June, and while it brought uncertainty in market trends, one thing we know for sure is our purchasing power has diminished. In comparison to 2021, the average American household is spending over $400 more each month just to cover the basics. While you can’t stop inflation, you can take steps to help offset its impacts. Reevaluate Your Budget A good first step to mitigating the impacts of inflation is to reassess your budget. Budgets are the cornerstone of everyone’s financial plan and help identify opportunities to stretch your dollar a little further. Wondering how to cut expenses while maintaining a good quality of life? Start by making small adjustments to make your budget work for you. As you reassess and reallocate money to where you need it most, you may need to make some lifestyle changes to weather the storm. For example, you may need to reduce cable and subscription services, shop around for cheaper insurance, hold off upgrading your cell phone, or do grocery pickup instead of delivery. Move Savings to Saver or Share Certificates If cutting spending isn’t doing enough to help your bottom line, you can give

your savings a boost with options that earn interest or dividends over time. Two great options here at Frontwave are our Share Certificates and Saver Certificates. With a Share Certificate, also known as a certificate of deposit or CD, you can get a higher dividend rate than a typical savings account in exchange for leaving the money in your account for a set period of time. You can open a Share Certificate at Frontwave with as little as $1,000, and choose from flexible terms ranging from 6 months to 5 years. Whether you go with long-term or short-term certificates, your money will earn guaranteed dividends to help grow your savings. Don’t have $1,000 or more to invest all at once? Saver Certificates can be a great alternative to consider. These

are similar to Share Certificates, where you earn a higher rate by keeping your money in the account for a set period of time. The key difference is that you can open a Saver Certificate with as little as $100 and then add money over time. At Frontwave, we offer Saver Certificates with special rates for military members. While you might not see the earnings you would from stocks and bonds in the long-run, Share Certificates and Saver Certificates aren’t impacted by dips and swings in the market, making them more stable. If you want help assessing your finances, you can always make an appointment for a free financial checkup. Whatever your financial and savings goals are, we got you!



First Quarter 2023

they continue spreading kindness and giving back. It’s coming… Have you heard? Construction of Frontwave Arena is well underway and we can’t wait to host the 16X champion San Diego Sockers at this sparkling, new, state- of-the-art facility in early 2024! As we look forward to the grand opening, we’re giving away tickets to watch the Sockers live in action at their current home stadium as they begin their 17th championship run this season. Check us out on social media for ticket giveaways all season long! As part of our digital-first strategy, we’ve been evaluating solutions to make it easier for you to open accounts and do business with Frontwave, however you choose to bank with us. In 2022, we transformed your experience on our online banking platform and mobile app with new security enhancements, improved navigation and other great features to make digital banking a breeze. And we’re just getting started! We’ve planned more enhancements to your digital experience in 2023 to create seamless experiences and provide best-in-class service! Stay tuned for more updates on how we’re innovating to provide you with the convenience you need and the exceptional experiences you desire with every interaction, be it a click, a call, or a visit to one of our branches. Thanks so much for your loyalty and commitment to Frontwave throughout 2022! As we kick off the new year, remember, whatever path your financial journey takes, We Got You!

You Spoke. We Listened! When we say we want to do everything we can to make your Frontwave experience great, we mean it. We value your feedback, and when it comes to your digital banking experience, we heard you loud and clear! That’s why we’ve rolled out a new and improved Frontwave app that features: • A modern look and feel • Simplifed navigation, including drop down menus that make it easier to find the tools you need • New security options, including the ability to use Google Authenticator, Duo Mobile or other multi-factor authentication apps • A new Snapshot experience that gives you a quick review of your account balances without the need to login. We’ve also improved the desktop online banking experience, with simplified navigation and easier access to your favorite functions. We’re not the only ones excited about this latest update. Check out some of the feedback we’ve received in our Member survey:

Notes from the CE0

Bill Birnie, President/CEO As I reflect on the past year, I see a lot of reasons to be grateful. Grateful to our Members for choosing Frontwave to help make their financial dreams come true! We are committed to being the best place you’ve ever banked and we’re humbled by your support and loyal Membership. Grateful to be recognized as San Diego’s Best Credit Union for the third consecutive year, Morongo Basin’s Best Bank for the third consecutive year, and San Diego’s Best Mortgage Company for two of the past three years! That’s on top of our selection as the Department of the Navy’s Distinguished Small Credit Union Service Award winner for the sixth time in the past eight years, plus receiving the Peter Barron Stark Award for Workplace Excellence for the tenth time. All of this recognition goes to show that, when we say we’re here for our Members, we take that commitment seriously! Grateful to have served our communities for the past 70 years! That’s right! We celebrated our 70th Anniversary on October 28, 2022! To say thank you, we gave back through our Acts of Kindness campaign, with everything from pumping free gas for Marines and paying pet adoption fees, to providing free lunch to healthcare workers and donating $15,000 to local food banks to help fight hunger. And that’s just the tip of the iceberg! It has been so rewarding to support those who have supported us over the years. So good in fact, we’re going to keep the good times rolling with the Goodie2Crew this year! Follow us @frontwavecu on social media to keep tabs on the Goodie2Crew as

Frontwave app is great! Best Credit Union!!!

Convenient banking, charge free access and great communication!

Got any other feedback for us? The next time you get a survey from us, we really appreciate you telling us how you feel. Thanks for your Membership!

Join us March 29, 2023 at 5:00 pm to hear about the state of the credit union from our Board of Directors and to review the annual report. All Members are invited to attend:

Frontwave Credit Union 1278 Rocky Point Drive Oceanside, CA 92056



First Quarter 2023

Annual Election Services. A one-stop shop for all your insurance needs, Frontwave Insurance Services can make sure you have the right insurance for your needs at the best price. Get a free, no obligation insurance quote by visiting or calling 844.788.0820. • Auto Insurance • Motorcycle Insurance Looking to Save on Your Insurance? Start the year off right with a fresh new quote from Frontwave Insurance rate.” That’s the amount of savings you’ll need to live on each year. You then see whether it will last for your estimated life expectancy, which you can check with any number of online calculators. If the answer is no, you’ll have to increase the amount you save now and/or cut back on your retirement plans. Your retirement finances are not set in stone. You have options at any age. Call or email me to review those and decide on the best course of action. Don’t put it off—the sooner you understand your financial alternatives, the sooner you can take positive action to protect your golden years. Kathy may be reached at 760.439.6960 or

Reality Check on Your Retirement Savings

for a house and/or paying off student loans. The important point is to make a commitment to your retirement savings by contributing a consistent amount with each paycheck (or if you are self-employed, every invoice). The absolute percentage is secondary; more important is to set a goal and stick to it. How will your lifestyle change? In retirement, you may no longer be drawing a salary, although many folks take up some form of self-employment that brings in an income. It’s up to you whether earnings will be part of your retirement plan. If not, your retirement savings should be robust enough to supplement your Social Security without sacrificing your lifestyle. You can check your projected Social Security payments on the Social Security Administration’s website. Figure out how long your savings will last. To get a reasonably accurate figure, you should derive your annual “burn

Provided by Kathy Chesney, ChFC, CLU Whether you’re 23 or 35, it’s important to know whether you are saving enough for your retirement. There is no time like the present to ensure you are allocating enough funds to your retirement account. With folks routinely living into their 80s and 90s, it’s more important than ever to ensure your money lasts your lifetime. Millennials have the advantage of time. You can benefit from compounding and the long-term trends that can make a real difference over the course of several decades. A good savings target is 15% of your income. That’s a very general target, and in many cases, it’s too conservative. That can be a real challenge if you are also saving

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

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. This material was prepared by LPL Financial, LLC. Securities and advisory services are offered through LPL Financial (LPL) , a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Frontwave Credit Union and Frontwave Investment Services are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using Frontwave Investment Services, and may also be employees of Frontwave Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of Frontwave Credit Union or Frontwave Investment Services. Securities and insurance offered through LPL or its affiliates are:

Annual Election 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

Your credit Union (“Financial Institution”) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for advisory services.



First Quarter 2023

What’s better than free financial education? Getting it from the comfort of your couch! Register for one of our virtual workshops today at Military Home Buying You serve your country proudly and we’re proud to serve you. Let us expertly walk you through the VA program and all that it offers home buyers in this free virtual workshop. We will give you tips and tricks to make your buying process as easy as possible. Upcoming Financial Workshops

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.

CONTACT US 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 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 Estate Planning No one wants to think about it, but we should all be prepared for the inevitable. In this free virtual workshop, Attorney Benjamin Diederich will teach you the basics of wills, trusts and estate planning to properly ensure your legacy for the future. • Tuesday, February 21 @ 6:30 pm IP 101, Intro to Intellectual Property Do you know how to safeguard your intellectual property or explore the complicated world of patent and trademark law? In this free virtual workshop, Attorney Benjamin Diederich will help you navigate through the complicated legal mechanism designed to protect you, your ideas and your creations. • Tuesday, January 17 @ 6:30 pm

We’ve got you covered coast-to-coast!

• Tuesday, January 10 @ 6:30 pm • Tuesday, March 14 @ 6:30 pm

When online banking won’t do and your usual branch or ATM is too far away, remember Frontwave Members have access to more than 5,600 Co-op Credit Union “Shared” branches within the U.S. and nearly 30,000 surcharge-free ATMs worldwide. To find a nearby location, call 888.748.3266 or visit

UPCOMING HOLIDAYS Frontwave will be closed in observance of the following holidays this quarter: New Year’s Day Wednesday, January 1 Martin Luther King Jr. Day Monday, January 20 President’s Day Monday, February 17 Express Line, Online Banking, Mobile Banking, and ATM service First-Time Home Buying What financial dream is bigger than owning your own home? We want to help prepare you for what it will take and how to make the process easier. In this free virtual workshop, our real estate and mortgage experts will walk you through the steps it takes to become a homeowner. • Tuesday, February 14 @ 6:30 pm New Year’s Day (Observed) Monday, January 2, 2023 Martin Luther King, Jr. Day Monday, January 16, 2023 Presidents’ Day Monday, February 20, 2023 observance of the following holidays this quarter: As always, Express Line, Online Banking, Mobile Banking, and ATM services are available to you 24/7.

STATISTICAL REPORT As of November 30, 2019 Members: 91,614 Assets: $890,891,398 Total Shares: $757,133,421 Loans Outstanding: $603,949,171

As of November 30, 2022 Members: 123,479 Assets: $1,410,278,896 Total Shares: $ 1,096,060,438 Loans Outstanding: $933,067,280

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