This is Frontwave Credit Union's Member Newsletter for First Quarter 2025.
First Quarter 2025
frontwavecu.com 1278 Rocky Point Dr. Oceanside, CA 92056 Q1 NEWS
Start your year strong with Frontwave. Welcome to 2025 — a year full of new opportunities! In this issue, we’re here to help you tackle tax season, recover from holiday spending and strengthen your financial foundation.
Discover tips to stay organized, avoid tax mistakes and access free resources to save time and money.
Plus, explore smart strategies to balance saving and spending while setting achievable goals for the year ahead. Your goals are our priority. Let’s achieve them together — one smart decision at a time. Every financial journey starts with a single step. With the right planning and support, 2025 can be your best year yet. Let’s make it happen!
Dream Big. We Got You. Frontwave Credit Union
BRIEFING
DIY or Hire a Pro? Choose the filing method that fits your situation: • DIY Filing: Great for simple returns. Free IRS tools or affordable software makes filing easy. • Professional Help: The more complex your tax filing, the more you will benefit from using a pro. Best for complex cases like retirement, buying a home, permanent change of station (PCS) moves or transitioning out of the military. Reduce Your Tax Burden with an IRA An IRA can reduce your taxes while helping you save for retirement: • Traditional IRA: Contributions may be deductible, reducing your taxable income. • Roth IRA: Contributions aren’t deductible, but earnings grow tax-free. You still have time! Make your 2024 IRA contributions by April 15, 2025. Start saving with a Frontwave IRA — visit us online or stop by a branch today!
Avoid These Common Tax Mistakes Avoid these costly errors: • Missed Deductions: Like student loan interest, charitable deductions or uniform expenses. • Misreporting Income: Include all income, like side gigs or rental earnings. • Procrastination: Filing early gives you time to correct errors. Open a Dedicated Savings Account for Taxes Stay prepared year-round with a savings account exclusively for your tax needs: 1. Open Your Account: Online or at a branch 2. Automate Savings: Schedule transfers for hassle-free saving 3. Watch It Grow: Build your tax fund and avoid last-minute stress
Mark Key Deadlines Get ready for tax season like a pro. Tax season is coming, but it doesn’t have to be stressful. A little preparation now can make the process smoother, less intimidating and even rewarding. Follow these steps to tackle tax season with confidence. Organize Your Documents A hassle-free tax season starts with having all your paperwork ready: • Income Statements: W-2s for employees and 1099s for freelance or side income. • Receipts: Donations, medical expenses, childcare and education costs.
Avoid penalties by tracking these dates: • Federal Tax Deadline: April 15, 2025. Active duty in a combat zone may qualify you for an extension. • Quarterly Estimated Taxes: Self-employed members must stay on top of these deadlines. Need extra time? File for an extension by April 15, but remember, extensions don’t delay payment deadlines.
• Military-Specific Documents: PCS orders, combat pay records or housing allowance statements. • Previous Year’s Tax Return: A helpful reference for deductions and credits. Keep everything in one spot — physical or digital.
Pro Tip: Start a folder for 2025 now to collect receipts throughout the year.
Take Action Today
season doesn’t have to be a burden. Read our blog post for more tips, and let’s make this tax season your most successful yet.
Tax season is your chance to take control of your finances. Start organizing, set deadlines and explore your options. With the right tools and resources, tax
Take advantage of free tax resources.
Together we scared away hunger — thanks to you!
Thanks to your incredible support, our Scare Away Hunger drive was a spooky success! We collected more than 200 pounds of peanut butter, enough to make over 3,000 sandwiches for families in our community. Your generosity proves we can make a real difference when we come together. A heartfelt thank you from everyone at Frontwave and the North County Food Bank for joining us in scaring away hunger. Stay tuned for more ways to get involved and spread kindness in the months ahead.
Free tax preparations options can save you money: • IRS Free File: Free online prep for Adjustable Gross Income (AGI) of $73,000 or less. • VITA: Free tax prep for those earning $67,000 or less, people with disabilities and limited English speakers. • TCE: Free assistance for seniors (60+), focusing on retirement issues. • MilTax: Free e-filing and expert support for military members and veterans. • Free File Fillable Forms: Basic e-filing for confident DIY filers. Visit the IRS website for helpful tax filing information.
BRIEFING
Holiday Spending Reset
The holidays are a time for celebration, but they can leave your finances feeling stretched. Now’s the perfect time to create a post-holiday recovery plan and start 2025 with a stronger financial foundation. Here’s how to bounce back with purpose.
Start 2025 with a Financial Tune-Up
STEP 1
Take Stock and Plan
A new year means a fresh start — so why not begin with a financial tune-up? Take these simple steps to strengthen your financial foundation to help you reach your goals.
Balance Spending and Saving Paying down debt is important, but don’t let savings fall by the wayside. Even small contributions to a savings account can help you prepare for emergencies or future goals. Try the 50/30/20 rule: 50% of your income for needs, 30% for wants and 20% for savings or debt repayment. Begin by reviewing your holiday spending. Check credit card balances, loans or other holiday expenses. Then, map out a plan to pay them down. Break payments into manageable amounts and set realistic deadlines to keep yourself on track. STEP 2
Credit Checkup Tips
STEP 1
STEP 3
Check Your Credit Report
Monitor Your Credit Regularly Keeping an eye on your credit is just as important as checking it annually. Use free credit monitoring tools to get alerts about changes to your credit report, such as new accounts, inquiries or changes in balances. Regular monitoring helps you catch potential fraud early and ensures your credit stays on track throughout the year.
Your credit report holds the power to shape your financial future. Get your free annual report from Equifax, Experian and TransUnion at AnnualCreditReport.com. Review it early to catch and dispute errors, like incorrect balances or unknown accounts, and avoid issues when you need credit later.
STEP 3
Use the Right Tools
Smart tools make managing your finances easier: • Budgeting Apps: Look for an app that aligns with your goals. Consider features like spending tracking, bill reminders and savings goals. • Credit Union Resources: Frontwave offers savings accounts and financial planning tools to help you move forward with confidence.
STEP 2
BONUS TIPS
For Military Members
Strengthen Your Credit
Strong credit equals savings. Better credit scores lead to lower interest rates on loans and mortgages, putting more money back in your pocket. To build or maintain good credit: • Pay on time: Timely payments make up a big chunk of your credit score. • Keep balances low: High credit card balances can hurt your score. • Don’t close old accounts: Credit history is a key factor in your credit score. • Limit new credit inquiries: Only apply for credit when it’s essential. Good credit isn’t just a number — it’s the foundation for building big dreams.
If you’re on deployment or an extended assignment, set up automatic payments to avoid missed deadlines. Notify creditors about your deployment status — you may qualify for protections under the Servicemembers Civil Relief Act (SCRA). Keeping your credit usage low while deployed can help you avoid unnecessary debt. Start your year with confidence. A quick credit checkup today can help you dream big and achieve even more tomorrow. By reviewing your credit report, strengthening your credit habits, and staying proactive, you’ll set yourself up for greater financial opportunities. Small steps now can lead to big rewards down the line.
STEP 4
Adjust and Move Forward
Recovering from holiday spending doesn’t mean cutting out joy. Identify areas where you can scale back without sacrificing what matters most. Whether it’s fewer takeout meals or a pause on nonessential purchases, small adjustments can lead to big savings over time. Simple changes like skipping a daily $5 coffee or cooking at home instead of ordering out can free up extra money for your financial goals. With a clear plan and the right resources, you can recover from holiday spending and start building toward your bigger goals.
NOTES FROM THE CEO
As a member of Frontwave, you have the opportunity to shape the direction of our organization by voting in the 2025 Board of Directors Election. This year, there are three open positions on the Board, and six candidates are running to represent you. We’re proud to partner with Survey & Ballot Systems (SBS) again this year to deliver a secure, efficient election. Ballots will be sent to eligible members via email and mail in February, with results shared on March 26. WHAT YOU NEED TO KNOW • When: February 28–March 21, with in-branch voting from March 3–15. • Who Can Vote: Active members with $50 on deposit or an active loan as of December 31, 2024 (Other eligibility requirements may apply). Shape the Future of Frontwave Credit Union! 2. Our Growth: Financial growth at Frontwave isn’t about profits—it’s about building the strength to serve you better. Together, we can offer competitive rates, reduce fees and introduce tools that make managing your money easier. 3. Your Loyalty: We know you have choices, and we’re honored you chose Frontwave. Over the past several months, we have been vetting partnerships to leverage our digital platforms and AI technology to significantly elevate and streamline your experience. We’re super excited about the possibilities and will be working diligently throughout 2025 to bring those possibilities to life! As you set your goals for 2025, remember that small steps—like preparing for tax season, reviewing your credit, and building a habit of routine savings—can lead to big successes. Financial wellness is a journey built on one decision at a time, and you don’t have to go it alone. Frontwave is here to support you every step of the way.
Let’s make 2025 a year of progress together! Every journey begins with a single step, and those steps can lead to great things.
Thank you for your loyal membership at Frontwave Credit Union!
Dear Frontwave Members, Happy New Year! As we welcome 2025, I’m filled with gratitude and excitement for the opportunities ahead. A new year brings fresh possibilities, and we’re honored to be part of your financial journey. Our goal remains simple: to make Frontwave the best place you’ve ever banked, empowering you to achieve your goals and build the future you envision.
Warm regards, Bill Birnie President/CEO, Frontwave Credit Union
My connection to Frontwave runs deep — not just as CEO, but as a proud member.
HOW TO VOTE • Electronic Voting: Members with a valid email will receive a ballot link by February 28. Voting closes March 21. • Mail-in Ballot: Completed ballots must be received by March 15. Request a paper ballot by February 24: Phone: 952.974.2339 Email: support@directvote.net • In-Person Voting: Vote at any of our 13 branches during normal hours, March 3–15. We’ll share election updates via mail and email in February. In the meantime, review candidate biographies and statements to learn about those running to represent you. Your vote matters. Make your voice heard and help shape the future of Frontwave Credit Union. View Election Details
In March, you’ll have a unique opportunity to shape Frontwave’s future by participating in our 2025 Board of Directors Election. This is your chance to vote for the leaders who will be representing you and advocating for your interests. Their mission is to set the overall direction of the credit union and ensure it operates with your best interests at heart. There are three board positions up for grabs, and we have six highly qualified candidates for your consideration. To ensure a secure process, we’re partnering with Survey & Ballot Systems (SBS) again this year. In February, eligible members will receive
information about the election process and how to cast your ballot by electronic voting, mail- in ballot or by voting in-person. We will announce the election results at the Annual Meeting of the Membership on March 26. The idea of a volunteer Board of Directors and a volunteer Supervisory Committee, elected by our Membership, holds deep personal meaning for me—it’s where my Frontwave journey first began. I started as a volunteer on the Supervisory Committee and later served on the Board of Directors. Through these roles, I saw firsthand the profound impact Frontwave has on its
members. Those experiences shaped my commitment in service to this organization. A dedication I carry with me every day as CEO. As we look ahead, we’re focused on three key areas to serve you better: 1. Our Team: Excellence drives everything we do. We invest in our employees to ensure they’re engaged, empowered and ready to provide you with exceptional service and an amazing experience — whether you’re opening your first savings account or buying a home.
FRONTWAVE GIVE360
Empowering Communities, One Partnership at a Time
How It Works: • Identifying Needs: Collaborating locally to pinpoint where support matters most. • Allocating Resources: Providing targeted aid through funding, supplies or essentials. • Creating Partnerships: Collaborating with trusted groups to amplify impact. • Tracking Impact: Ensuring lasting benefits through ongoing monitoring. Giving back isn’t just something we do — it’s who we are. Through Frontwave Give360, we’re empowering communities today to create a stronger tomorrow.
We believe in the power of community and the impact of meaningful partnerships. That’s why we’ve created Frontwave Give360 — Frontwave Credit Union’s comprehensive, 360-degree approach to giving, ensuring every dollar raised and every resource donated is reinvested directly into the local organizations that strengthen the neighborhoods where we live and serve. Through Frontwave Give360, we focus on providing: • Financial Contributions supporting local causes and initiatives. • Essential Resources, including food, supplies and other vital needs. • Community Partnerships, driving long-term, measurable impact. Our mission is simple: foster a brighter future by empowering organizations to thrive and helping build stronger, more resilient communities — one partnership at a time. Our Home for the Holidays pet adoption event on December 7 was a heartwarming success. Thanks to the incredible support of our community, over 25 pets found their forever homes just in time for the holiday season. It was a day full of joy and holiday spirit, bringing hope and homes to these pets. We are so grateful to Saving Pets One at a Time (SPOT), A New Life Rescue, Labs and More, The DeTommaso Dogs, San Diego House Rabbit Society, Kahoots and all who participated — adopters, volunteers and donors alike. Together, we made a real difference for these pets and gave them the Home for the Holidays Pet Adoption Recap
Kid$mart
Parents, turn learning about money into a fun activity with your kids! Grab some coins and GAME: “What’s in Your Piggy Bank?”
LIVE WEBINAR
Pass Down Prosperity
follow these steps: What You’ll Need: • A mix of coins (pennies, nickels, dimes, quarters). • A piggy bank, jar or small container. How to Play:
January 22, 2025 10:00 am - 11:00 am PST
Passing down prosperity or generational wealth— money and assets passed down through families— is vital for a strong community. However, many barriers, including race, gender and income, keep people caught in a cycle of debt, preventing them from creating a lasting financial legacy. Join us for an insightful webinar where you will learn how to make decisions to invest in yourself and the future generation to build a stronger financial future. Who Should Attend? • Those seeking to end debt and build wealth. • Anyone interested in generational wealth. • Homeowners interested in wealth-building. What You Will Learn: • How repaying debt kickstarts wealth-building. • How to create and pass down wealth. • The role of homeownership in building wealth.
1. Fill the Bank: Place coins in a piggy bank or jar without showing your child and ask, “How much money do you think is in the piggy bank?” 2. Count Together: Take out the coins one at a time, help your child identify each coin and its value, and add up the total together. 3. Celebrate and Reward: Cheer them on and let them keep the coins or save for something special. Tip for Parents: Teach kids smart money habits with this game. Discuss how they’d save, spend or share to encourage wise choices!
gift of love and family this holiday season. Keep an eye out for more opportunities to bring pawsitive change to our community in the new year.
REGISTER
FOUNDATION
The Frontwave Foundation Golf Tournament on December 2 at Emerald Isle Golf Course in Oceanside was a day to remember! Golfers came together for a fun-filled event that raised vital funds to support the Foundation’s programs. From birdies to bogeys — and maybe even a mulligan or two — it was a true hole-in-one for fun and fundraising. While the final totals are still being tallied, the event was undoubtedly a big win. A heartfelt thank you to everyone who teed up their support. Because of you, the real winners are those we serve. We’re “fore-ever” grateful! Foundation Golf Tournament: A Swinging Success!
Foundation Scholarships
Exciting news! The Frontwave Foundation will offer up to $14,000 in scholarships for military members and civilians pursuing higher education in 2025. We’re proud to invest in our community by empowering individuals to achieve their educational goals and build brighter futures. Stay tuned — more details, including application requirements, will be announced in March!
CONTACT INFO
HOLIDAY CLOSURES
STATISTICAL REPORT
Express Line 800.829.7676 Member Solution Center 760.631.8700 or 800.736.4500 Mon-Fri: 7am – 6pm Sat: 9am – 4pm GreenPath Financial Wellness 877.337.3399 Frontwave Investment Services 760.439.6960 Frontwave Insurance Services, LLC 844.788.0820
Martin Luther King, Jr. Day Monday, January 20 President’s Day Monday, February 17 Remember, Express Line, Online Banking, Mobile Banking and ATM services are available 24/7. Frontwave will be closed on the following holidays this quarter:
As of December 2024: Members: 128,122 Assets: $1.41 billion Total Shares: $1.11 billion Loans Outstanding: $960 million
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