ECU INSIGHTS APRIL 2020

ECU selects Scholarship Recipients

ECU awarded eight $1,500 scholarships to deserving graduates. The scholarship committee reviewed every applicant based on academic achievements, co-curricular and extra curricular activities, community service and financial need. Recipients attend the college or university of their choice and scholarships are paid di- rectly to the school.

2020 recipients were (pictured left to right): • Mason Anderson from Connally High School • Restylyn Atalisay from • Shekinah Davis from Waco High School • Joshua Edwards from • Maddie Lightsey from • Dakota Mynarcik from Bynum High School • Hannah Ruby from University High School • Rachel Saage from

Congratulations to these very worthy recipients. The Importance of Adding a Card Valet: Giving you Control of Beneficiary your Debit Card

Adding beneficiaries to your credit union accounts Educators Credit Union has a new is an important step to take in order to protect your mobile card management appli- assets and ensure they’re passed to the intended re- cation called Card Valet. This app cipients. When a person dies without a joint or ben- allows you to control card usage, set eficiary, the money in a credit union account may alerts and review transaction activ- become part of that person’s estate and can take ity, all from the convenience of your months or even years to get out. When a Payable on smartphone. Death (POD) Beneficiary is listed, that person(s) may bypass the estate and probate process and claim the Download the app from the Apple money by providing proof of identity and a certified App store for iPhone or Google Play copy of the account holder’s death certificate. store for Android. After you com- plete the registration and authentication Visit any ECU location to add a beneficiary. One of process you will see Educators Credit Union on the our friendly staff members will be happy to assist log-in screen. you. Please note this does not replace the fraud solutions Educators Credit Union has in place.

Required Minimum Distribution Age Change for IRA Owners

The required minimum distribution age has increased from 70 1/2 to 72 for 2020. This change will not affect you, if you were 70 1/2 prior to January 1, 2020. Contact your tax or legal professional on the new IRA changes.

Happy Retirement Jean Ann

Last August, Jean Ann Hoover, our long time Hewitt manager retired after being with the credit union for 30 years. She was the constant face at Hewitt where she helped so many members in so many different ways. We are so thankful to her and all that she contributed over her years here at ECU.

Employees to Receive Service Awards

William Palasota Sharon Schroeder Carla Brooks Rachel Wilde Sarah Cole CFO Vice President - Accounting Senior Loan Officer Marketing Director Accounting 35 years 35 years 30 years 15 years 5 years

Alicia Graham John Mark McKethan Jessica Sniggs Jerome Bayer Vanessa Gaither Accounting TSTC Branch Manager Loan Processor Senior Loan Officer Account Services 5 years 5 years 5 years 3 years Manager 3 years

“Each of these employees plays an integral part in the success of the credit union. We truly appreciate their dedicated service to Educators Credit Union.” Joe Hutyra Kristen Mallett Kayla O’Neal President/CEO Account Services Teller 3 years 3 years

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Get more from your credit union membership at LoveMyCreditUnion.org Inactive Accounts

Every year ECU sends funds to the state from accounts which are inactive. In the state of , an account is considered inactive after one year if no transactions are completed on the account. After three years of inactivity, the funds in those accounts are sent to the state. To keep your account from becoming inactive be sure to make a deposit or withdrawal from your account at least once a year. ATTENTION C.U.B. AND TEAM MEMBERS! Visit ECU during the month of April to help us celebrate National Credit Union Youth Month. “Money Magic. Share, spend and save at your credit union.” is this year’s theme. Notice of Availability of Documents ECU will provide information on the following docu- Stop by any ECU and make a deposit to your C.U.B. ments on request: Club or TEAM account to: • be entered in the National Savings Challenge and 1. A summary of the most recent annual audit • be entered to win one of five $20 prizes.* 2. The most recent statement of financial condition 3. IRS Form 990 report Remember, ECU membership is open to all your 4. Articles of Incorporation family members. 5. Bylaws and Rules *One entry per account number per day. Requests must be made in person, by a member of legal age, at ECU’s main office located at 501 W. State Hwy 6 in Waco. Upcoming Events

April National Credit Union Youth Month Keep your Address Updated July 3 Member Appreciation Day Do we have your correct address and phone num- Hot dogs and drinks will be given out ber? Please keep your contact information up-to- at the Main Office from 11 a.m. - 3 p.m. date at the credit union. Should there be any issues concerning your account, we need good contact information in order to reach you.

Audio Response: Online: 254-751-5871 www.edcu.com 1-800-460-1331 Locations: Main Office - 501 W. State Hwy 6 • 254-776-7900 Facebook @ EducatorsCUTX TSTC Office - 100 Bolling Dr. • 254-799-8946 Hewitt Office - 501 Hewitt Dr. • 254-666-7711 Holiday Closings: Lake Shore Office - 2400 W. Lake Shore Dr. • 254-752-1815 Memorial Day - Monday, May 25th Robinson Office - 641 N. Robinson Dr. • 254-662-9595 Independence Day - Saturday, July 4th

Gatesville Office - 306 S. Lovers Ln • 254-865-8664 Your savings federally insured to at least $250,000 and Copperas Cove Office - 201 E. Robertson Ave. • 254-547-4411 backed by the full faith and credit of the government. National Credit Union Administration, a Trojan Branch at UHS - 3201 South New Rd. • 254-756-1843 x2019 U.S. Government Agency