January 2020 Newsletter

We’re growing our family!

A Steadfast History

Fort Lee Federal Credit Union has a rich history of positively impacting the lives of generations of families. The credit union began in 1952, as a savings and loan service for Fort Lee employees and their immediate families. Over the years, we have increased our product selection and expanded our services to residents and workers in the communities surrounding Fort Lee.

A Strong & Secure Future

We’re excited to announce that we have further expanded our field of membership to include 14 counties and four cities in Central Virginia! We will continue to pursue our mission of building a stronger community by providing valuable, cost-effective financial services to a broader area. It will also ensure that we are even stronger, and here to serve many future generations.

Now serving Central Virginia!

Membership is now open to those who live, work (or regularly conduct business in), worship, or attend school in these localities: Amelia, Charles City, Chesterfield, Colonial Heights, Dinwiddie, Goochland, Hanover, Henrico, Hopewell, King and Queen, King William, New Kent, Nottoway, Petersburg, Powhatan, Prince George, Richmond, and Sussex.

Share the news with friends, family and neighbors!¹

Membership Information

Treat Yourself to Your Maximum Refund and a Chance to Win $25K²

Treat yourself to a stress-free tax season! Fort Lee Federal Credit Union has teamed with TurboTax to save you up to $15 on TurboTax and a chance to win $25,000.

TurboTax makes it easy to find the best solution for your unique tax situation. Simple filer? Homeowner? Independent contractor or freelancer? TurboTax has a product that is right for you.

You can file with confidence knowing that TurboTax guarantees 100% accurate calculations, running thousands of error checks as you go. And with TurboTax you’ll get your biggest possible refund fast.

Start today and save!

Save the Date! Annual Meeting, Lunch & Family Fun Day

Saturday, April 18 - 10:00 AM to 2:00 PM

TenStrike Bowling Center
2403 C Avenue
Fort Lee, VA 23801

This year we’re mixing in some fun, and holding our meeting at the TenStrike Bowling Center on Fort Lee. Bring your family and join us for bowling, lunch, business meeting, and door prizes! Stay tuned for ticket information and details, coming in March.

$5,500 to Award!

Once again, we will award merit-based scholarships to high school seniors within our membership! Applications will be available in mid-January at both branches and on our website. They must be completed and submitted with letters of recommendation and transcripts by end of business Friday, March 13, 2020. Winners will be contacted in April.

Collegiate Leadership Awards

Any high school senior who is a Fort Lee Federal Credit Union member and entering into any area of study at a two- or four-year college/university is encouraged to apply. Three scholarships are available:

One (1) award of $2,500
Two (2) awards of $1,000 each

Career Path Leadership Award

Any high school senior who is a Fort Lee Federal Credit Union member and pursuing a certificate or technical degree at a career college, community college or technical school is encouraged to apply.

One (1) award of $1,000

Message from the CEO: Five Ways to Save at Your Credit Union

The new year is a great time to start new habits, and a great time to take steps to improve your financial health as well! Make sure you take advantage of all the ways we can help you save and grow your finances. Whether you’re just starting out with a savings plan or looking at retirement options, our representatives are ready to assist you.

Thank you for allowing us to serve you.

Patsy Stuard, CEO

Savings Account

No monthly fees or minimum balance charges
Access your money anytime
Set up additional savings accounts for specific goals or to prepare for the holidays

Share Certificates

Enjoy a higher dividend rate while saving for longer term goals
Generally, the longer the term,the higher the rate
Terms from 6 months to 60 months

Money Market

Generally, earn higher amount of dividends than a basic savings account
Can make a limited number of withdrawals per month

IRA: Retirement Saving³

Traditional:

Contributions are tax-deductible
Interest grows tax-deferred until withdrawn
Funds can be used to purchase first home, but subject to income tax
Mandatory distribution at age 70 1/2

Roth:

Contributions are not tax-deductible
Contribution withdrawals are generally tax-free
Funds can be used to purchase first home
No requirement to withdraw at a specific age

Coverdell Education Savings Account (ESA)³

Grow savings tax-deferred for qualified education expenses
Can be used for qualified elementary, high school, and college expenses

Fort Lee FCU Golf Tournament Raises $11,500 for ALS Association & VACUPAC

Fort Lee FCU presents a check for $6,000 to Jonathan Strausberg of the ALS Association–DC/MD/VA Chapter.

Our annual benefit golf tournament was held in September at the Cardinal Golf Course on Fort Lee, and raised more than $11,500. In October, The ALS Association of DC/MD/VA was presented with a check for $6,000. Learn more about the ALS Association at www.alsa.org.

Virginia Credit Union PAC was also a beneficiary of the tournament, receiving $5,500. VACUPAC is a non-partisan voluntary organization that supports credit union initiatives through legislation.

Special thanks go to Premier Event Sponsor, CUNA Mutual Group, and the multiple other sponsors and volunteers who made this event possible.

Is your vehicle protected?

Fort Lee Federal Credit Union is proud to offer products to help protect your transportation investment.

GAP covers your loan.

If your vehicle is stolen, accidentally damaged beyond repair, or otherwise declared a total loss, you are still liable to pay the difference, or the “gap” between your insurer’s settlement and your loan balance. Guaranteed Asset Protection (GAP) covers the “gap” in cost, so it doesn’t have to come out of your pocket.⁴

Extended Auto Warranty covers your vehicle.

Ensure your vehicle is covered in the event of a mechanical breakdown. Route 66 Warranty’s Mechanical Breakdown Protection Plan4 are available for both new and pre-owned vehicles, and can be purchased at any time during the life of the vehicle. Several plans are available to meet your needs.

Learn more about GAP Coverage and Extended Warranty.

You could save on your car and home insurance.⁵

By combining your car and home insurance you may qualify for multiple discounts and get fast 24/7 claims service (including holidays). Call today to determine the discounts you qualify for.

Call for your FREE, no obligation quote.
Toll-free 1-888-380-9287
Visit us at TruStageAutoHome.com

Holiday Closings

New Year’s Day: Wednesday, January 1
Martin Luther King Jr. Day: Monday, January 20
Washington’s Birthday: Monday, February 17

1) Account opening includes non-refundable membership fee of $1, plus $25 savings deposit refundable at account closing. Contact the credit union for more details.

2) Visit turbotax.intuit.com/lp/yoy/guarantees.jsp for TurboTax product guarantees and other important information. Limited time offer for TurboTax 2019. Discount applies to TurboTax federal products only. Terms, conditions, features, availability, pricing, fees, service and support options subject to change without notice. Intuit, TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries.

TurboTax $25,000 Sweepstakes. NO PURCHASE OR FINANCIAL DISCLOSURE NECESSARY. Open to legal residents of the 50 United States or the District of Columbia, 18 years of age or older at time of entry, who are customers of participating Financial Institutions or employees of participating businesses. Void in Puerto Rico and where prohibited by law. Sweepstakes ends 2/13/20. Subject to complete Official Rules and all applicable federal, state and local laws. For Official rules including participating Financial Institutions and businesses, odds of winning, alternate method of entry, and prize descriptions, visit the Official Rules. PRIZES: 1 Grand Prize: A check for $25,000. Retail value, $25,000. 12 First Prizes: A check for $1,000. Retail value, $1,000 each. Maximum retail value of all prizes is $37,000. The odds of winning a prize depend upon the total number of eligible entries received by the end of the Promotion Period. SPONSOR: Intuit Inc., 7535 Torrey Santa Fe Rd, SDG-1A-04-05B, San Diego, CA, 92129.

3) For general information only. Consult a tax advisor for questions regarding tax advantaged savings options and your specific situation.

4) This product is offered by a third party. Subject to certain exclusions and benefit limitations. Deductible coverage is not available in all states. This product is offered by a Fort Lee Federal Credit Union associate who both accepts deposits on behalf of the credit union and sells nondeposit products on behalf of a third party.

5) TruStage® Auto & Home Insurance Program is offered by TruStage Insurance Agency, LLC and issued by leading insurance companies. The insurance offered is not a deposit and is not federally insured. This coverage is not sold or guaranteed by your credit union. Individual premiums and savings will vary. ©TruStage Insurance Agency 2019