January 2020 - Barkdale Federal Credit Union
Volume 66 No. 1January 2020www.bfcu.org 800-647-2328P3 Managing Money in Times of ChangeP4 Ring in the New Year With a Retirement ReviewP5 Four Tips That Will Kickstart Your College Savings PlanP6 First-Time Homebuyers: Avoid These Mistakes
2 www.bfcu.orgINSIDE THIS ISSUEManaging Money in Times of Change. 3Ring in the New Year With aRetirement Review. 4Love My Credit Union Rewards. 4Kickstart Your College Savings Plan. 5First-Time Homebuyers:Avoid These Mistakes. 6Community News. 7Register for Card Controls. 8Rates and Dates. 8Income Tax Serviceat BFCUBarksdale Federal Credit Union provides its members with ayear-round tax service. For over 20 years C. Taylor has beenproviding tax preparation and advice to BFCU members. Theservices include individual, partnership and corporation returns.They also complete all state returns to better serve our militarymembers. Speedy electronic filing insures you receive your refundquickly. With prices below most other tax services, and BFCUmembers receiving a special discount, this is your best buy inincome tax service.Call 318-549-4017 for an appointment or stop in and seeC. Taylor and his staff at Barksdale Federal.720 Northgate RoadBossier City, LAIt’s Scholarship Application TimeBarksdale Federal Credit Union FinancialsOctober 2018October 2019Loans 832,336,216 861,489,437Assets 1,321,351,299 1,439,301,065Deposits 1,162,070,312 1,264,457,596Reserves 143,772,565 159,086,269Members130,167133,369All financials are rounded to the nearest dollar.For more information, center locations and hours,visit www.bfcu.org, or call 318-549-8240 or800-647-BFCU (2328). CO-OP shared branches canbe found at www.co-opsharedbranching.org.This publication does not constitute legal, accounting or other professionaladvice. Although it is intended to be accurate, neither the publisher norany other party assumes liability for loss or damage due to reliance onthis material. Websites not belonging to this organization are provided forinformation only. No endorsement is implied. Images may be from iStockand/or Fotolia. 2020 Bluespire bluespiremarketing.comBarksdale Federal Credit Union will be offering scholarshipsto graduating seniors attending college in the fall of 2020.Scholarship applications with rules and eligibility are availableon our website and in centers. Barksdale Federal will awardfour 1,500 scholarships for college-bound BFCU members.Odds of winning depend on the number of eligible entriesreceived. The scholarship contest winners will be selectedby the BFCU scholarship committee. Applications must bepostmarked no later than Monday, February 3, 2020.
Your Financial Partner for Life 3Managing Money in Times of ChangeMoving to anew city?Changing jobs?Starting or endinga relationship?All of the aboveat once? New lifePatrick Gullattchanges can beCEOexciting, but alsooverwhelming. No matter where life takesyou, you’ll want to stay in control of yourfinances. The tips below can help youmaintain steady money management skillswhen your brain is moving a million milesan hour.Seeking a new home. It’s vital tounderstand the cost of living whencontemplating a new location. Rent andhome costs can vary drastically from cityto city. Utility costs and car insurancepremiums can also differ, as well as stateand local taxes. You may decide to rentas you get to know a new area, but besure to note if there are extra charges forparking, having a pet, on-site storage andmore. Do as much research as you canbefore you commit to a new home base.Don’t forget to factor in possible emotionalcosts of climate, access to nature and localentertainment opportunities.We love helping our members!So much so that we have extendedour Call Center hours!Now you can call us Monday – Fridayuntil 7:00 PM.We are also available on Saturdaysfrom 9:00 AM – 1:00 PM.We look forward to speaking with you!318-549-8145 or 800-647-2328,option 4Moving. If using professional movers,get quotes from different companiesto compare costs and what’s included.Having an extra person on the movingcrew or going over your estimated hourscould be big budget breakers. Consider ifit would make better financial sense to sellcurrent furnishings before you move andbuy new or secondhand furniture at yournew location.Changing jobs. A new job often meansan increase in pay, but look at the bigpicture: Will you have better benefitsor will you need to pay more for healthinsurance? Do you need a new wardrobe?Will you be spending more on commutingcosts, whether taking public transportationor fueling your own vehicle?If a job change means a pay cut, besure to look for ways you can reducespending so you aren’t overextendingyour finances and accumulating debt.Contact your financial institution, utilitycompanies, student loan companies, etc.,to explain your new situation and if youanticipate any financial hardship. It’s bestto be proactive and honest than to avoidpaying bills, which can damage yourcredit score.Combining or separating finances.Communication is key when you are in anew relationship or ending one. Before youdecide to join finances, have a thoroughdiscussion about your money history andcurrent financial standing, your savingsgoals and how you’re going to pay bills.Consider putting a plan in writing so it’sclear for you both.If breaking up your relationship andyour finances, you’ll want communicateclearly to make separating your finances assmooth as possible. Your original writtenplan can also help provide clarity at thistime. If you and your partner can’t makea firm decision or compromise, you mayneed to seek assistance from an unbiasedfinancial mediator.We’re With You All the WayAt BFCU, we’re here to help you managemoney wisely and protect your financesas your life changes. Stay on top of youraccounts with online and mobile banking,account alerts and more. You can connectwith a Member Service Representative in abranch or by calling us at 800-647-2328.Learn more about our many products,services and resources that can help youat bfcu.org.
4 www.bfcu.orgRing in the New Year With aRetirement ReviewThis year, resolve to reenergize yourretirement savings strategy. Whetheryou’re just starting out, in mid-career ornear retirement, an evaluation of yoursituation can help you make the most ofyour employer-sponsored retirement plan,individual retirement accounts (IRAs)and other investments. You may decide tomeet with a financial advisor to discuss thefollowing:1Review beneficiaries. Ifthere have been changes in yourpersonal life, such as marriage,divorce, birth, adoption or the deathof a beneficiary, be sure to update yourretirement plan documents. Rememberthat beneficiary designations on thesedocuments supersede your will, so theyshould be consistent.2Run the numbers. Workwith a financial advisor or use aretirement savings calculator tofigure out how much you need to savefor retirement. The results can help youThere are more reasons than ever to lovebeing a member of Barksdale FederalCredit Union.Your credit union membership is aboutthe trust and care of community, builtaround where you live, work and play.That’s why Barksdale Federal CreditUnion membership saves you moneythrough exclusive member-only offersthrough our trusted partners. ThroughLove My Credit Union Rewards, creditunderstand where you stand now andwhat you need to do to get on track for acomfortable retirement.3Take advantage of foundmoney. If you’ve received araise or paid off a loan, youmay now have more discretionary cash.Consider putting the extra cash towardyour retirement savings. If you have anemployer-sponsored retirement plan,contribute at least enough to get theemployer match (if available in your plan).4Rebalance your portfolio.Review your asset allocation (themix of stocks, bonds and cashequivalents in your plan account) to makesure it is still in line with your financialgoals, timeline and risk tolerance.5Assess your risk level. If yourrisk tolerance has changed, youmay need a new target allocation.For example, if you are a few years fromretirement, you may want to adjust themix of investments in your portfolio to amore conservative approach.Check Off Your ListIf overhauling your plan seems like toomuch to tackle all at once, try writing atask or two into your calendar over thenext several months. Meeting with afinancial advisor also may be a good firststep to helping make sure your retirementsavings strategy is on track. Visit bfcu.orgto request an appointment to get started.Representatives are registered, securities sold, advisoryservices offered through CUNA Brokerage Services, Inc.(CBSI), member FINRA/SIPC, a registered broker/dealerand investment advisor, which is not an affiliate of the creditunion. CBSI is under contract with the financial institutionto make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No FinancialGuarantee, Not a deposit of any financial institution.FR-2873222.1-1219-0122Michael Suggs1350 E. 70th St.Shreveport, LA 71105318-549-4027Michael.suggs@cunamutual.comunion members have saved over 2 billion with offers like: Save on car maintenance get 10 offyour first service using CarAdvise. Credit union members get 200when you switch to Sprint, pluslines 3, 4 and 5 are FREE! Plus, 100 Annual Loyalty Cash Rewardsand 25% off select accessoriesin Sprint retail stores.Learn all about how your BarksdaleFederal Credit Union membership getsyou all these exclusive savings and moreat LoveMyCreditUnion.org. Check themout and start enjoying credit union memberbenefits you never knew you had. Credit union membership also savesyou up to 15 on TurboTax federalproducts. Members save on SimpliSafe, the #1expert pick for home security. Save 30% on premium identityprotection from Financial Lock.Sprint Cash via deposit: 100/line, max 2 lines. Req.new line activ. on eligible plan and registration atlovemycreditunion.org/sprintrewards within 30 days ofactiv. Loyalty Reward: Via deposit. 100/yr./acct. UnlimitedBasic: after 1/31/2021 pay 60/mo for line 1, 40/mo forline 2 and 20/mo/line for lines 3-5 with AutoPay. 1 Huluad-supported plan per eligible Sprint acct. MHS reducedto 3G speeds after 500MB/mo. SD video streams up to480p, music up to 500Kbps, gaming up to 2Mbps. Datadeprioritization during congestion. other mo. charges apply.
Your Financial Partner for Life 5Four Tips That WillKickstart Your CollegeSavings PlanMost parents want to set up a college fund for their kids. Thechallenge is knowing how and when to start. What’s the right age,how much should you save, and which savings plan is best?The process can be overwhelming, but rest assured, BALANCETMis ready to help. Check out these effective tips to get your collegesavings plan on track:Start as early as possible. When it comes to choosingthe best time to start saving for college, the answer issimple: as soon as possible. Even if you’re pregnant now or intendto start a family soon, it’s not too early.1It’s never tooearly to start!College requiresconsistent savingover time.College is very expensive, and like any long-term financial goal,it requires consistent saving over time. That said, don’t getdiscouraged if your kids are older and you haven’t started puttingmoney aside.Check out our simple College Savings Calculator to plug in yourpersonal information and create a meaningful savings plan, nomatter your child’s age, at bfcu.balancepro.org.So, just how high is the cost of college? Read on Set expectations. According to The College Board’sannual report on college pricing, here’s the average cost ofattendance (tuition plus fees) in 2017-2018:2Public 4-Year College (In-State): 20,770Public 4-Year College (Out-of-State): 36,420Private Non-Profit 4-Year College: 46,950And of course, these numbers are only expected to grow withinflation. But remember, you don’t have to accumulate all of thiscash on your own; you can let a smart savings plan help. For moreon that, see tip number-four.Choose a monthly contribution you can handle.Every family’s college savings plan will look different.You want to do the most for your children and make a realcontribution. However, don’t do it at your own peril.3Avoid borrowing money that you can’t pay back. A high-interestloan or second mortgage may seem like acceptable options to freeup additional funds, but they may put you at great financial risk.Select the right savings option for you. 529 Plans area popular way for parents to save for their children’s collegeexpenses. They offer several investment options that will help yourcontributions grow over time, and your withdrawals are tax-free.4Another popular investment option is a Coverdell EducationSavings Account (ESA). Coverdell plans are similar to 529s withone key difference: they let you invest in any stock, bond, ormutual fund. However, they have an annual contribution limitthat can cap your savings.The bottom line is you should choose the savings option that’sright for you soon. The faster you begin saving, the less expensivecollege will be for your family.
6 www.bfcu.orgFirst-Time Homebuyers:Avoid These MistakesBuying yourfirst home isan exciting timethat’s often fraughtwith emotions –both positive andnegative. YouTeresa Hallcan successfullyMortgage VPnavigate thehome-buying process by knowing whatpitfalls lie ahead.Here are some common mistakes manyfirst-time homebuyers make and tips toavoid them.Not having a clear understandingof how much house you can afford.There’s no point in looking at homesthat are out of your price range. Use amortgage affordability calculator to helpyou figure out a monthly payment that fitswithin your budget. Some experts suggestaiming for a home that costs less thanyou think you can afford. This gives yourbudget some wiggle room so you won’tfeel financially stressed by life’s unexpectedtwists and turns.Not monitoring your credit report.Mortgage lenders will be examiningyour credit reports to determine howmuch to lend you and at what interestrate. Mistakes could cost you with higherinterest rates. Request a copy of yourcredit report from each of the three mainconsumer credit reporting companies,Equifax, Experian and TransUnion atAnnualCreditReport.com. If youfind errors, you can dispute them.Not looking into special programsfor first-time buyers. If you don’thave the funds for a 20% down payment,look into mortgages backed by the federalGetting preapproved for a mortgagesends a strong message to sellers thatyou’re serious about buying a home.government that require as little as 3%down. VA mortgages are sponsored bythe Department of Veterans Affairsand may require no down payment ifyou’re eligible. Consider 30-, 20- and15-year fixed rate mortgages, as well asadjustable-rate mortgages, or ARMs,which offer a low interest rate in the earlyyears of the loan.Not setting aside savings to coverclosing costs. Expect to pay anywherefrom 2% to 5% of your loan amount onclosing costs. Shop around to save moneyon your homeowner’s insurance, homeinspection and title search. You may beable to negotiate a lower commission withyour real estate agent and have the sellerpay a portion of your closing costs.Not getting preapproved for amortgage. Being prequalified for amortgage means a lender confirms inwriting how much you can borrow andat what interest rate. It sends a strongmessage to sellers that you’re serious aboutbuying a home, which can give you anadvantage over other buyers who mightnot be prequalified.We’re Here to HelpThe mortgage loan officers at BarksdaleFederal can help you buy a home you love.We’ll work with you to determine a loanamount that fits your budget and help youfind the right financing so you can shop foryour first home with confidence. To learnmore, stop by a branch location, contact usat 318-549-8170 or visit bfcu.org.
Your Financial Partner for Life 7BFCU Community NewsWe wish we had room to list all of the community events –thank you for letting us be your community partner!September4 Airman and Civilians at Barksdale AirForce Base learned about BFCU services atRight Start.9-10 Louisiana Chamber of CommerceExecutives Conference attendees wereshown how the credit union can bettertheir communities.11 Patriotism was high at the BarksdaleAir Force Base Memorial 9/11 5K Run.11 The Cajun Army explained their effortsto save fellow Americans at the BossierChamber’s annual Patriots Luncheon.13 Riverside Elementary’s Dr. AlexisMorris won 1,000 for her classroomthrough the partnership with KTBS’ OneClass At A Time grant.9 BFCU showed support of the men andwomen protecting our community at theState of Public Safety Luncheon. Studio 101 Hair Salon, LLC ofLeesville, LA9-10 Bossier City employees heard aboutBFCU benefits at their annual employee fair. RMC Sales of Bossier City, LA The Town of Cottonport ofCottonport, LA11 Military and their families were treatedto a free burger lunch at BAFB CelebrateBarksdale Picnic.October 23:Barksdale employeesgenerously donated 1,545 for WreathsAcross America.Wreaths were laidin front of veterans’headstones inDecember.16 BFCU was honored to pay tributeto our heroes at the Military LeadershipForum.19 Employees walked toward their healthat the 2020 Wellness Walk.21 We were honored to celebrate with localairman at Barksdale’s Air Force Ball.28 Shriner’s Hospital staff were thanked fortheir tireless efforts to help children in needat their annual benefits fair.November 7:Employees presentedover 5,000 raisedin partnership withour members to theNWLA AmericanHeart Association.30 Employees donated 472 pounds of foodto the Food Bank of NWLA.25 Graduates of the Providence Housewere honored as they work to break thecycle of homelessness in the ArkLaTex.31 Better Business Bureau’s Torch Awardsmade our year by honoring us with theGood Neighbor Award.30 Military and community partnershipswere strengthened at the annual MilitaryAffairs Council’s Celebrate Barksdalegolf tournament.31 BFCU participated in the AnnualOakdale Trunk or Treat. Employeesdressed up and handed out candy to thelocal community.OctoberNovember3 Staff learned about the effects ofdomestic violence and what to look for atthe NWLA Family Justice Luncheon. North LA Auto Title of Ruston, LA Nothing Bundt Cakes ofBossier City, LA24 BFCU staff attended the 6th AnnualBreast Cancer Awareness luncheon hostedby Fort Polk.2 BFCU participated in the VernonParish Council on Aging Fair Day. Staffwas present with promotion items andinformation about BFCU. 3rd BN 353rd Regiment Women’sMentorship Program of Fort Polk, LA5 BFCU employees participated atLongview’s American HeartAssociation Walk.18 Veterans and their families werehelped at the VA Medical Center’s MentalHealth Summit.23 Employees got involved withProject4Hope, an organization assistinghomeless Veterans.WELCOME SEGS8 BFCU staff visited with our communityat the Caddo Council on Aging’s VeteransDay Fair.8 Butler Educational Complex teacher,Ms. Brock, was awarded 1,000 to betterher classroom in partnership with KTBS’One Class at A Time grant.10 Staff joined the festivities to honor thebrave at the Veteran’s Day Parade.15 Airmen participating in the BarksdaleAir Force Base 5K were given prizes andturkeys.16 Annual shred day at our LeesvilleCenter with food and prizes. Lifesharewas present, giving our membership anopportunity to donate blood.20 Barksdale employees raised funds forAdopt a Senior at the Cenla Food Bank.24 Employees honored our militaryat the Warrior Feast, where they servelocal airmen and their families a freeThanksgiving meal.
Rates and DatesAccountRateAPY*Prime Savings0.25%0.25%Sp. Purpose Savings0.25%0.25%Children’s Savings0.25%0.25%Christmas Club1.50%1.50%2701 Village LaneBossier City, LA 71112318-549-8240www.bfcu.orgIRA Prime Savings1.90%1.92%Regular Checking0.10%0.10%Plus CheckingHigh Five Checking0.20%0.10%0.20%0.10%* Annual Percentage Yield.Rates effective November 11, 2019.Rates subject to change without notice.Federally Insured by NCUAHoliday ClosingsBarksdale Federal Credit Union will be closedfor the following holidays:Report lost or stolen Credit Cards: 800-647-2328, option 6After Hours: 800-543-5073 International: 727-570-4881Debit cards: 866-724-2761.JANMartin LutherKing Jr. DayMARPlease join us for our Annual Meeting, Thursday, March 19, 2020 at the Bossier Civic Center. Dinner starts at 6PMand the meeting begins at 6:30PM.2019FEB17Presidents DayRegister Your Card forCard ControlsGet the most of your Visa credit card with BFCUCard Controls!What Is BFCU Card Controls?With Card Controls, you can: Turn your BFCU Visa credit card on and off Set alerts to be sent via text message and/or email Block specified credit card transactions And set geographic restrictions, dollar limits and payment typesBe Sure to RegisterSigning up is easy and can be done from your phone or computer.BFCU Card Controls can be found under “Additional Services”in Online Banking or “More” in the BFCU app. Sign up now tohave instant control of your card when you need it fast.
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for a VISA 1.99 card, members cannot currently have or be joint on a Barksdale Federal VISA credit card. Balances on other Barksdale Federal loan accounts may not be transferred to your VISA 1.99 Platinum card. Not every member will qualify. Some restrictions apply. Eligibility for Platinum or Share Secured Visa credit card is
Barksdale Federal Credit Union Financials October 2020 October 2021 _ Loans 948,252,689 1,010,722,233 Assets 1,822,978,668 2,008,108,896 . check with your phone company or mobile provider about call-blocking services. AT&T, T-Mobile and Verizon all offer features for blocking robocalls. Reduce electronic junk mail. Send
required to have the Credit Card Credit permission to access the Apply Credit Card Credit. The patient transactions that appear in the Credit Card Credit page are limited to charges with a credit card payment. This can be any credit card payment type, not just Auto CC. To apply a credit card credit: 1.
(Credit Union checks cleared by the Credit Union) Copy of Cashier's Check 5.00/Check Deposit Item Return 10.00/Item Dormant Account 4.00/Month after 1 year(s) Fax (Local) 5.00 for 2 pages Drilling of Boxes 2.00 for additional pages Fax (Long Distance) 7.00 for 2 pages 15.00 Shipping/Key by Mai 2.00 for additional pages
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What is Credit Building? And what it's not CREDIT BUILDING The act of making on-time regular payments on a financial product such as an installment loan or a credit card that is reported by the creditor to the major credit bureaus. CREDIT BUILDING Credit repair CREDIT BUILDING Credit remediation/debt management alone CREDIT BUILDING .
PK-2 Next Generation ELA Standards at a Glance . PK-2 Reading Standards (Literary and Informational Text) Review the . PK, K, 1. st, and 2 nd grade ELA introductions for information regarding: guidance and support, range of student reading experiences, text complexity, English language learners/multilingual learners, and students with disabilities. Key Ideas and Details PK K 1 2 PKR1 .
