Frontwave Briefing | Third Quarter 2020

This is Frontwave Credit Union's Member Newsletter for Third Quarter 2020.

Briefing Frontwave Credit Union Member Newsletter | Third Quarter 2020

health recommendations by requiring everyone to wear masks and practice social distancing. We’re also limiting the number of Members allowed in a branch at any one time. I get it! It’s an inconvenience. I don’t like it either. I would far prefer shaking your hands and seeing your big smiles. But I assure you, these measures are in place to protect YOU, our valued Members, and our incredibly dedicated employees – we call them Dream Makers and you’ll see why in just a moment. Not able to make it to one of our branches? You can still use online and mobile banking for all of your day-to-day transaction needs from wherever you may be. Our communities are slowly beginning to reopen businesses and for most of us, the future looks a lot different than it did just a few months ago. But we’ll get there! We’re beginning to see what that “new normal” we’ve been hearing so much about looks like. Times may have changed, but one thing remains the same — we fight for our Members and our communities! As I’m writing this, we’ve helped over 1,650 Members affected by the pandemic extend their loan payments through Skip-a-Pay, Loan Extensions and Mortgage Forbearance. Altogether that’s over $44 million in loans! And while we had never done SBA lending before this pandemic, we figured it out! To date we have aided over 169 local businesses get through these challenging times by funding more than $6 million in loans via the Paycheck Protection Program. The old Rule of Thumb was that you should have three months of income in savings to weather financial storms. I bet most of us are starting to think that six months should be the new Rule of Thumb. I know I said it in the last newsletter, but I’m going to keep beating this drum. I can’t stress enough the importance of saving to build your emergency fund and prepare for retirement. A lot of folks’ budgets are stretched a little thin right now, and it may not seem like there’s much left over to

The California Consumer Privacy Act (CCPA) gives California residents the right to request what personal information businesses collect, share, or store, and to request certain information be deleted. Be advised that Frontwave does not sell member information. For a full disclosure of your CCPA rights, please visit our website at To submit a request regarding what personal information we do collect, share and store, please visit our website and click on the “Your rights under CCPA” link. You can also call us at 800.736.4500 to submit a request or for any questions you have regarding your CCPA rights. Important Notice save. We want to help you get there. With interest rates at historic lows, could you shave a little off your car or mortgage payment by refinancing with Frontwave? How about your credit card? Are you carrying high-interest debt and want a better deal? Spending less on interest and redeploying those dollars into your emergency fund or retirement is a good thing! Give us the opportunity to see if we can help you make it happen. We also want you to keep dreaming big! If you’re ready to buy your first home or move up to something bigger, we’ll help you grab your slice of the American dream. If the open road is calling, we’ll help get you into the car, truck or SUV of your dreams. If you need advice on getting your retirement plan back on track, we got your back. Big or small, whatever your financial goals, we’re here for you. Our mission is to “Make Financial Dreams Come True!” It really is that simple. Our Dream Makers are ready! What are you waiting for? Give us a call, stop by a branch, or login online and let’s get started on yours today! Thank you for your Membership!

Bill Birnie, President/CEO Notes from the CE0

I don’t think any of us will ever forget the year 2020. It has indeed been challenging and impactful. And we’re only halfway through the year! What’s next? Oh, snap! We still have an election coming. Many years ago, I read an article in which the author was voicing her opinion that every citizen has a responsibility to vote. Not just a right to vote, a responsibility. I believe that to be true, and I hope that all citizens will take the time to assess the candidates at all levels of government, make their individual decisions, and cast their ballot. Vote! It matters! It matters a lot! As a critical provider of financial services, Frontwave Credit Union has remained open throughout the coronavirus pandemic. The evolving environment and guidance certainly required flexibility and, unfortunately, the resulting staffing challenges required us to temporarily close three branches. But I am pleased to report that as of the end of June, we’ve returned to nearly full branch operations. Only our School of Infantry Branch on Camp Pendleton remains temporarily closed, with the expectation of being operational in July. If you visit a branch today, you’ll find the experience a little different. To help prevent the spread of the coronavirus, we continue to fully comply with public



Third Quarter 2020

Investing In Your Future — Take advantage of the “good days”

You Spoke. We Listened! When you give us feedback, it doesn’t just go in one ear and out the other. We do the work to make things right. For example, based on your requests: * We added a mortgage forbearance option to our coronavirus Financial Assistance Programs. * We made it possible to view your account number and change your address through online banking. * We added our routing number in more places in online banking, and enhanced the way transaction histories are printed so you can use them when the latest statement isn’t available yet. Got any other feedback for us? We want to hear it! The next time you give us a call or complete a transaction, you may get a survey asking how we did. We really appreciate you taking a few minutes to tell us how you feel. Thank you for your Membership! Frontwave Investment Services offers no-cost, no-obligation financial health checkups for Frontwave Members. Call them at 760.439.6960 to learn more.

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC , a registered broker/dealer and investment advisor. 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. This material was prepared by MarketingPro, Inc. for use by Kathy Chesney and Leslie Myers. Citations: 1 -, May 21, 2020; 2 -, May 21, 2020 - The S&P 500 Composite index is an unmanaged index that is generally considered representative of the U.S. stock market. Index performance is not indicative of the past performance of a particular investment. Keep in mind that the return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost. 3 - The Simple Dollar, May 21, 2020. FR-3111310.1-0620-0722 05292020-LA-3370 illustration shows the long-term power of “time in the market vs. timing the market.” As your financial professionals, we understand that volatility can cause anxiety, and it can be tough to sit still when it’s happening. But as we’ve seen lately, it may sometimes be best to tune out the noise and trust the strategy that’s already established. Don’t have a strategy in place yet? Now is the time to act – before you miss out on any more of those “good days.” We always look forward to answering your questions, so if you have any, please reach out and let’s set up a time to talk. Kathy or Leslie may be reached at 760-439-6960 or or 3

Provided by Kathy Chesney, ChFC, CLU and Leslie Myers, CWS Hindsight is 20/20. It’s only human to imagine what it might have been like to turn left instead of right on some fateful day. However, that sort of daydreaming is unhelpful when investing, especially when it leads you to try and time the market. Since the beginning of the COVID-19 outbreak, we’ve seen a great deal of volatility. But, in the two months since March 23rd’s record low, the S&P 500 has risen 33%. While past performance doesn’t guarantee future results, it shows how quickly market sentiment can change. 1,2 Here at Frontwave Investment Services, we prefer a disciplined approach to investing. We combine a person’s goals, time horizon, and tolerance for risk with our own understanding of the overall economic landscape. It boils down to this: in timing the market to avoid the “bad” day, you risk missing the “good” days, too. Missing even just a few of those “good days” can really add up. A national investment firm looked at a $10,000 investment into the S&P 500 for 38 years. By missing only the five best days over that period, the investment grew to $458,476. Meanwhile, if the money remained in the account untouched, it would have grown to $708,143. Past performance is no guarantee of future returns, but this



Third Quarter 2020

Frontwave Helps Local Businesses! Frontwave was recently honored with the Community Response Award from the North San Diego Business Chamber for our response to the COVID-19 crisis. In the spirit of fighting for our Members and our community, in April, Frontwave quickly sought and was granted SBA approval to accept applications for the Paycheck Protection Program, a forgivable loan program designed to help small businesses weather the coronavirus pandemic. We’re proud of our dedicated team who has worked long hours to help fund over 169 loans for local businesses. The thanks and gratitude of the business owners we’ve been able to help is a testament to our WHY – and a clear example of the credit union difference. Here are just a couple of the amazing responses we’ve received. “After being sidelined by my current bank of many years on the PPP process, Frontwave came to the rescue. They submitted our application, made sure all was correct, and approved us for consideration within three days. From the start of the process with Bill, then Wendy, then Lindsy, all the way down to the lady at the branch, [the] service, availability, and response have been immediate, consistent, and friendly. I am moving all my accounts to [Frontwave]. It was refreshing to deal with a smaller bank and not feel so invisible.” —Zell Dwelley, co-owner of the Beach Break Café, Oceanside, CA “To say we are grateful for the time and effort put in by everyone at Frontwave Credit Union to secure a PPP loan for us is not enough! We didn’t know if our business was going to survive! Due to the pandemic, we had to significantly reduce our staff [and] lay off several of the people who make The Rehab Group the great company that it is… Now because of the exemplary experience and commitment of the employees at Frontwave, using the funds received, we can rehire our coworkers and continue to serve our community!” — Marcy Trutalli, owner of The Rehab Group, Temecula, CA

Protect Yourself from Fraud and Identity Theft

A ccording to the Federal Bureau of Investigation, there’s been an increase in scammers capitalizing on people spending more time at home and online recently, using the opportunity to find new victims to defraud. Many of these cases occur when a fraudster convinces the victim to share information that allows them to gain access to the victim’s bank accounts — and possibly even steal the victim’s identity. Never share information such as your online banking username, password, your debit card number, CVV (the three- digit code on the back of your card) or social security number. Don’t share it with a friend — don’t even share it with your mother. Keep in mind, Frontwave will never call, text or email you asking for this information. Be alert for suspicious requests. To help protect yourself and your money, follow these simple tips: Keep personal info to yourself. If someone contacts you claiming to be from Frontwave and asks you to verify your identity or possible fraud by providing your PIN, CVV or a one- time text message code that was just sent to you, do not give it to them . This is a scam. The person is trying to gain access to your account. Call us right away at 800.736.4500 (International: 760.631.8700) to report the incident.

Don’t fall for phishing schemes . These may involve fraudsters posing as Frontwave employees trying to get you to share account information on social media or via email or text message. Frontwave will never ask for account information via these methods. Before clicking on any link, make sure it comes from , not a variation like or Secure digital data. Use strong passwords for your digital devices, banking and other accounts. Pick hard-to-guess combinations of upper and lower case letters and numbers. If you’re shopping or banking online, be sure to use a secure browser (look for a lock next to the URL in the browser window). Stay safe on social media. Don’t fall for scams that promise you large amounts of money if you share your online banking information with your social media “friend.” Also be careful not to overshare details about your life. An identity thief could use these to answer “challenge” questions on your accounts, gaining access to your money and personal information. If you’re ever concerned about possible fraud or other suspicious activity, give us a call at 800.736.4500 (International: 760.631.8700). You can also check out the Security page on our website for more tips on protecting yourself.



Third Quarter 2020

Home Buying Essentials Our real estate experts are ready to prepare you with the knowledge and resources you’ll need to make the best decisions in the home buying process. • Tuesday, August 11 @ 6:30pm Upcoming Financial Workshops The Fundamentals of Personal Finance From budgeting to managing credit wisely, our Certified Financial Counselor will give you the strategies Finances for Young Adults Just starting out in the world of personal finance? Let our Certified Financial Counselor drop some financial knowledge on you that can Our award-winning workshops have moved online! Ready to soak up some financial knowledge from the comfort of your couch? Register today at

Investing 101 Life is full of important occasions and we want to make sure you’re financially ready to make those big dreams come true. Whether it’s paying for college or the trip of a lifetime, you need a plan. Our Frontwave Investment Services experts can help craft that plan. • Tues day, September 15 @ 6:30pm Military Home Buying You serve your country proudly and we are proud to serve you. Let us expertly walk you through the VA program and all that it offers home buyers. We will give you tips and tricks to make your buying process as easy as possible. • Wednesday, September 30 @ 6:30pm

you need to stay financially fit. • Wednesday, July 15 @ 6:30pm

help save you time and money. • Wednesday, August 19 @ 6:30pm

Estate Planning No one wants to think about it, but we should all be prepared for the inevitable. Attorney Benjamin Diederich will teach you the basics of wills, trusts and estate planning to ensure your legacy for the future. • Wednesday, July 29 @ 6:30pm

Auto Buying Driving a new car can be exhilarating. But the process of buying it? Less so. Let our experts show you how to simplify your car search and the loan process while also getting the best bang for your buck. • Wednesday, August 26 @ 6:30pm

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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 Frontwave will be closed in observance of the following holidays this quarter: Independence Day Saturday, July 4 Labor Day Monday, September 7 Express Line, Online Banking, Mobile Banking, and ATM service will be available as usual.

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 8 0.829.7676 Member Solution Center 760.631.87 0 or 8 0.736.45 0 Mon-Fri: 7am – 6pm, Sat: 9am – 4pm Autoland 8 0.234.6 9 Enterprise Car Sales 8 0.CAR.SALES Gr enPath Financial Wellness 8 7. 37. 3 9 Frontwave Investment Services 760.439.6960 Frontwave Insurance Services, LC 8 4.7 8.0820

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 May 31, 2020 Members: 109,958 Assets: $1,001,187,463 Total Shares: $ 860,926,560 Loans Outstanding: $642,473,989

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