COPING WITH DEBT: CAN CONSOLIDATION HELP YOU?

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1 WINTER 2016 WHAT S INSIDE THIS ISSUE Coping with debt: Can consolidation help you?...1 Tips to keep you safe at the ATM...1 What you need to know...1 Free tools make it easier to save...2 Get your tax refund fast with direct deposit...2 Annual business meeting...3 Lincoln City branch...4 Protect against ID theft...5 Investment products and services...6 WHAT YOU NEED TO KNOW Debt consolidation can be a life preserver or an anchor, depending on how you go about it. The following are some pitfalls to avoid. 3 Consolidate the right debt. Scrutinize the interest rates you are paying on your debt. High-rate loans like many credit cards are obvious choices for consolidation, but loans with low interest rates like some types of student loans should not be consolidated. When Kristi Hart was choosing which debt to consolidate, she did not include loans that had a small balance or a low interest rate. 3 Address your demons. Debt consolidation is a tool, not a cure-all. If your spending habits are out of control, you need to address that before you take out a consolidation loan. If you don t, you could end up even deeper in debt. At oregonstatecu.com you can find a number of tools to help you manage your money WHAT YOU NEED TO KNOW CONTINUED ON PAGE 2 COPING WITH DEBT: CAN CONSOLIDATION HELP YOU? Maybe your New Year s resolution was to pay down your credit cards, or maybe you re struggling to make minimum payments on your debt. Maybe you just want to simplify your life and stop juggling multiple payments every month. Whatever your motivation and situation, you can on your own and without getting involved with a debt consolidation company combine several loans with varying interest rates and due dates. You do this by taking out one loan large enough to pay off all the others. Kristi Hart did that when she found herself carrying debt from a variety of creditors. I was writing a lot of checks every month, and paying high interest rates on too many accounts. I needed to simplify and lower my payment overall. Kristi shopped around for a way to consolidate her loans, but ultimately found she had the best luck working with Oregon State Credit Union, a financial institution who already knew her. We refinanced an existing loan to cover my outstanding debt and extended the term of the loan. I will pay it off in three years. There are two primary ways you consolidate debt: credit card balance transfers and personal loans. Each has pros and cons. You will want to research each option, and choose the one that best suits your circumstances. COPING WITH DEBT: CAN CONSOLIDATION HELP YOU? CONTINUED ON PAGE 4 TIPS TO KEEP YOU SAFE AT THE ATM If you follow the news, you know that ATM-related crimes are a possibility, but that doesn t mean you have to stop using the machines. By practicing some simple self-defense, you can reduce your chance of becoming a victim at an ATM. Begin by selecting a safe ATM. Pick a machine located in a public, well-lit location free of shrubbery and partitions or dividers. If the lights are out at the ATM, don t use it after dark. Before you get out of your car, prepare your ATM transaction. Have your card in your hand, know your PIN and if you are making a deposit sign your checks. As you approach the machine, and until you have returned to the safety of your locked vehicle, be aware of your surroundings. If another person is uncomfortably close to you, ask that person to step back. Be wary of anyone offering to help you, and stay alert to cars parked close. Be especially alert when using the ATM after dark, and consider having someone go with you. Examine the machine closely for illegal devices. Check for card or cash-trapping devices TIPS TO KEEP YOU SAFE AT THE ATM CONTINUED ON PAGE 3 Oregon State Credit Union P.O. Box 306, Corvallis, OR oregonstatecu.com

2 FREE TOOLS MAKE IT EASIER TO SAVE Maybe you re one of the millions of people who made a New Year s resolution to be better at saving money. You have good intentions, but every month some unexpected expense eats away at your disposable income. At the end of the month there is nothing left to save. Ultimately, saving money is about discipline and knowledge. The better you understand your overall financial picture, the more effectively you can manage your money. Begin by having a thorough understanding of your personal financial picture. SavvyMoney is a free member resource on our website designed to help you have a clearer understanding of your financial health. After answering a few simple questions about your income and current debts, you will receive a thorough analysis of your financial situation, including tips from financial experts to help you build and control your budget. You can access SavvyMoney from this link: From our website, oregonstatecu.com, you can access a set of tools that you can set and forget, effectively automating the process of saving money. 1. Set up direct deposit. Works great for any regular payment: paychecks, Social Security and more. 2. Pay yourself first. Once you ve set up direct deposit, set up automated transfers to savings. This moves a pre-set amount of funds into savings before you even know you have it. 3. Automate your payments. Whether it s your mortgage, your car payment or any monthly bill with a fixed amount due, automatic payments could spare you from late fees, interest and penalty fees. 4. Automate minimum credit card payments. You can, and should, make additional payments to pay off your cards more rapidly, but automating minimum payments ensures you won t pay unnecessary fees or fines. 5. Using our free online bill pay, you can send payments to anyone in the U.S. who can receive a check. You ll save money on checks, envelopes and postage; and you can use the time you save to find other ways to save money. FinanceWorks is another easy-to-use personal financial management tool within our online account services tool. It lets you see your Oregon State Credit Union accounts, as well as accounts from 16,000 other financial institutions and creditors. You can monitor your cash flow; set goals and mark your progress towards those goals; track your overall net worth; keep your taxes organized and track deductible expenses; and set up alerts and reminders to help you stay on track with budgets, bills and account updates. To access FinanceWorks, log onto your Online Banking account and find the link at the bottom of the page in the View my spending island. GET YOUR TAX REFUND FAST WITH DIRECT DEPOSIT Direct deposit is the quickest way to get your IRS tax refund. Just complete the Refund section of your tax form as instructed. If you file a joint return, the account into which you deposit your refund must be held jointly. To activate direct deposit you will need to provide the following: 1. The Oregon State Credit Union routing number: Your account number. This is your membership number. It must be six digits plus the two-digit suffix which identifies your account as checking, savings or money market. Add zeroes in front of the number if necessary to bring it to six digits, but exclude dashes, spaces and special characters If you have any questions regarding IRS direct, or other deposit options, call the credit union at April 15 isn t just tax day, it s also the deadline to make contributions to your } Routing number Account number Check number 2015 IRA. Talk to your tax advisor or visit the Internal Revenue Service s website at IRS.gov/Retirement- Plans/IRA-Year-End-Reminders. (WHAT YOU NEED TO KNOW CONTINUED FROM PAGE 1) wisely, including SavvyMoney and the Home & Family Finance Resource Center. You can access both of these tools from our website at To access FinanceWorks, log onto your Online Banking account and find the link at the bottom of the page in the View my spending island. 3 Research your options. Secured, signature, balance transfer: understand the risks and benefits before you choose the loan that is best for you. Stop by any branch or call to speak to a credit union representative who will help you figure out which loan type is right for you. Oregon State Credit Union Winter 2016 Newsletter 2

3 HOLD THE DATE: APRIL 6, 2016, FOR THE ANNUAL BUSINESS MEETING Thanks to all our member-owners, local decision making and financial cooperation mean your loans and deposits work hard, giving you and your community trusted, secure financial services. Attend the Annual Business Meeting to hear about 2015 achievements from the Chairman of the Board and the President/CEO, and about filling vacant positions on the board of directors. 3 Annual Business Meeting on April p.m. doors open 3 6 6:30 p.m. registration 3 6:30 7:15 p.m. meeting 3 Majestic Theater, 115 SW 2nd Street, downtown Corvallis Meet your volunteer nominees This is your opportunity to meet member candidates seeking to serve as your board of directors. (See candidates below.) Board members, elected by fellow members, are volunteers from the community who determine the general direction of the credit union. Our board members donate their time, ability and experience to help your credit union prosper in the years ahead. Jay Conroy Incumbent Jay resides in Corvallis with his wife, Judy, and is an adjunct instructor at OSU and University of Portland in teacher education and educational leadership development. He previously served for 28 years in secondary education, including leadership positions at schools in Eugene, Corvallis and Philomath, and teaching at Corvallis and Crescent Valley high schools in Corvallis. He has volunteered with St. Mary s Catholic Church and AYSO Soccer. Oregon State Credit Union experience includes: board member, April 2010 present; second vice-chairman of the board, April 2015 present; served on Planning, Board Governance, Executive and Risk Management committees. Voting and nomination procedures The Nominating Committee has proposed one candidate for each vacancy on the board of directors. No nominations will be allowed from the floor at the Annual Business Meeting. No member shall have more than one vote. Election will be conducted by voice vote. Prior to the Annual Business Meeting, any member can petition to nominate another member to run for election to the board by taking the following steps: Shannon Cruz Incumbent Shannon is a former USA Gymnastics Judge and program analyst with Linn/Benton/Lincoln Department of Human Services. She has served on the Oregon State Credit Union Board of Directors since November 2006, having served as chairman, and first and second vice chairman. She was on the Supervisory Committee from December 2003 November 2006 where she served as chairman and secretary. She has served on the following committees: Planning, Nominating, Executive, Financial Services, Board Governance and Risk Management. 1. Obtain a petition packet. 2. Verify that the member you wish to nominate is willing to serve. Have the member sign a Certificate of Willingness to Serve, included with the petition packet. 3. Obtain a written Statement of Qualifications and a biographical statement from your nominee and submit it with the petition. Kelley Kaiser Kelley is CEO for Samaritan Health Plans, Inc. and Inter-Community Health Network-Coordinated Care Organization; vice-president of Corporate Services for Samaritan Health Services; and has had executive responsibility for various Samaritan Health Services physician groups. She is a member of the Rotary Club of Corvallis and the Corvallis Chamber of Commerce. She joined the Oregon State Credit Union Supervisory Committee in September 2009, and has served on the following committees: Financial Services, Planning and Nominating. She was secretary to the Supervisory Committee from April 2013 present. 4. Collect member signatures on a nominating petition. In accordance with credit union bylaws, at least 500 signatures are required to nominate a candidate by petition. Please return the completed documentation to Vicki Stevens, Oregon State Credit Union, PO Box 306, Corvallis, OR by February 8, (TIPS TO KEEP YOU SAFE AT THE ATM CONTINUED FROM PAGE 1) that may have been glued or taped to the card reader or cash dispenser. Feel for sticky residue that might be adhesive used by criminals to attach a device. Also look for scratches, damaged or crooked pieces, and loose or extra attachments on the card slot. On the keypad, look for keys that are difficult to push down, which may indicate a false keypad attached on top of the real key pad. Look up and around. ATMs will have one or more security cameras, but be alert for the presence of extra cameras that might look different from the authorized cameras. Cover your hand as you are entering your PIN. This will block the view of illegally placed cameras that may be positioned to capture your PIN and prevent prying eyes from peeking over your shoulder. Once your transaction is complete, take your receipt and put your cash in your wallet or purse. Wait until you are in a safe location to count it. If you are followed after you leave the ATM, move to the nearest public area where there are more people and call the police. If you re waiting in line to use a drive-up ATM, keep your doors locked, windows rolled up and your engine running. Leave enough room between you and the car in front of you to exit the line if necessary. Experts on ATM crime suggest you try to use the same ATM for most of your transactions. Become 3 familiar with it, and be able to identify changes to the machine. If you notice anything suspicious, consider using another one. If you are in the middle of the transaction when you notice something suspicious, cancel that transaction, take your card and leave. There are steps you can take well before you go to the ATM that will help keep your accounts safe wherever you access them. Add text alerts to your account. With text alerts you set withdrawal limits. If someone withdraws an amount of cash from your account which exceeds your predetermined limit, the text alert will notify you. In addition to reviewing your statements, monitor your online accounts frequently at least monthly. If you notice a discrepancy, notify your financial institution.

4 COMING SOON: LINCOLN CITY BRANCH If you live, work or play along the central coast, you re about to get a new option for conducting your credit union business. Soon we will be opening a branch in Lincoln City at 3350 Hwy 101 to provide local service to our members in the area. The 1,885-squarefoot branch will be located in the Wecoma district of Lincoln City in the same building as Starbucks. It will have a 24/7 drive-up ATM, night depository and drive-through lane. Lincoln City will be our 13th branch, and the second one along the central coast. The first coastal branch was opened 12 years ago in Newport. Assistant Vice President of Public Relations and Business Development Mike Corwin says the credit union has been looking for a way to expand services along the central coast for many years, and Lincoln City made the most sense. (COPING WITH DEBT: CAN CONSOLIDATION HELP YOU? CONTINUED FROM PAGE 1) Balance transfers If your goal is to simplify your credit card debt, or you are juggling multiple, high-interest credit cards, you might want to consider combining those balances into a card with a lower interest rate. Look for a card with no annual fee, a low APR on balance transfers and no balance transfer fees. Your ultimate goal should be to eliminate credit card debt, so make sure your monthly payment exceeds the minimum required. Personal loans If you owe a lot in credit card debt, or your debt includes more than credit cards, consider a personal loan. This might also be a good option if you have too much credit card debt to transfer to another card, or you simply want to move away from revolving credit and into an installment form of payment. There are two forms of personal loan: secured loans and signature loans. There are significant differences between the two types, so do your research before applying. Secured loans With a secured loan, the borrower pledges some asset as collateral for the loan, such as a car or other vehicle, or a home. Be aware that if you cannot pay off the loan, you risk losing your collateral. It s a good solution for a borrower who needs a significant amount of money and has a stable income sufficient to meet the monthly payments. Because the risk to the lender is offset by the collateral, secured loans typically have lower interest rates than other kinds of loans. Signature loans A signature loan is obtained without the use of collateral, and the borrower generally must have a good credit score and credit history to show they have the financial resources to repay the loan. Because the loan is not secured with an asset, the risk to the financial institution is significantly higher. A signature loan may be a good option for a person who needs a small amount of money, but expect to pay a higher interest rate on a signature loan as compared to a secured loan. It may have a fixed interest rate and be due at the end of a specified term, or it may be a revolving line of credit with a variable interest rate. No matter what kind of loan you select, you will want to do business with people who treat you and your needs with respect, and who will work with you to meet your needs. Kristi found that at Oregon State Credit Union. I called other places, but at the credit union it was fast and easy. I applied for the loan one day, and the loan was funded less than three days later. I m saving $1,000 a month. Resolve to be debt-free. TRANSFER YOUR HIGH-INTEREST CREDIT CARD DEBT TO OUR VISA VALUE CREDIT CARD. 3 Visit oregonstatecu.com/visavalue 3 Call Stop by any branch 4 P.O. Box 306, Corvallis, OR oregonstatecu.com

5 TAKE STEPS TO PROTECT AGAINST ID THEFT Identity theft isn t a new crime, but as more people make online purchases and use technology to facilitate their financial transactions, financial identity theft has taken on new proportions. Fortunately, there are steps you can take to protect yourself. Check your credit reports regularly for indications of ID theft. Accounts you ve never opened, unfamiliar addresses and employers for whom you have never worked are all signs of a possible problem. You can request a free credit report once every 12 months, or anytime you believe your file is inaccurate. While you re at it, order your Social Security Earnings and Benefits Statement annually and check it for accuracy. Never send personal information by , and never respond to s asking for your passwords, account numbers or Social Security number. Don t use public computers or public Wi-Fi to access your online banking. Install anti-virus, anti-spyware and firewall software to protect the information on your computer. When shopping online, stick to reputable companies and confirm their sites are secure before making a purchase. Secure web sites will display a closed lock icon at the bottom of your browser. Do not save or remember credit card information or passwords on websites. Even reputable companies have security breaches. While digital ID theft gets a lot of publicity, good old fashioned theft from the mailbox is still a huge problem. Protect yourself with vigilance. Know which bills you expect to receive every month, and if you are missing one, contact the company. Switch to e-statements from your financial institutions, especially if you do not receive mail at a secured mailbox. Be sure to check those statements as soon as they arrive for activity that is not yours. Shred or hide all documents that contain your Social Security number, PINs or other sensitive personal information. This includes tax returns, checks, credit card statements and credit reports. Shred or cut up expired credit cards and driver s licenses. Every MONITOR YOUR CREDIT HISTORY Experian Equifax TransUnion To order a credit report from all three reporting agencies: Social Security Benefits statement: call or visit SSA.gov and create an account. month when your credit card statements arrive, inspect them for suspicious activity. One way to make it harder to steal your identity is to be stingy about your personal information. Details like your Social Security number and mother s maiden name should be given out sparingly. If a company asks for that information, ask them why they need it and how they will protect it. If you re not satisfied with their answers, take your business elsewhere. Never send personal information by , and never respond to s asking for your passwords, account numbers or Social Security number. Oregon State Credit Union Winter 2016 Newsletter 5

6 WINTER 2016 VISIT US ON FACEBOOK Like, share, follow and friend us on Facebook. Check out financial tips and tools. Stay informed. Learn about events, activities and promotions at facebook.com/oregonstatecu. WHAT S INSIDE THIS ISSUE Coping with debt: Can consolidation help you?...1 Tips to keep you safe at the ATM...1 What you need to know...1 Free tools make it easier to save...2 Get your tax refund fast with direct deposit...2 Annual business meeting...3 Lincoln City branch...4 Protect against ID theft...5 Investment products and services...6 P.O. Box 306 Corvallis, OR INVESTMENT PRODUCTS AND SERVICES THAT HELP MEET YOUR NEEDS BARBARA KOONTZ GREG ELKER SAMUEL F. NIESSLEIN, JR. As a member of Oregon State Credit Union, you have access to full-service financial advisors through our partner, CUSO Financial Services, L.P. (CFS).* We offer retirement planning, risk and portfolio analysis, income strategies and wealth transfer, help understanding PERS, tax-deferred investing and life insurance. If you are concerned about your financial future, let a CFS Financial Advisor review your financial strategy with you. Make an appointment today. Visit oregonstatecu.com/advisor. * Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ( CFS ), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The credit union has contracted with CFS to make non-deposit investment products and services available to credit union members. 6