Two persons lying on foliage, enjoying the fall season.

Currents Newsletter

October 2022

Fall is here!

WPCCU wishes you an exciting autumn. We’ve compiled some timely articles and must-do’s for this harvest season.

Member Appreciation Day 2022

October 20, 2022

With COVID-19 still a serious health issue, we continue to take the necessary health and safety precautions. Regrettably, we will not have an in-person event. We encourage members to visit wpccu.org/member-appreciation-day on October 20, 2022 for our virtual activities.

Thank you for your membership!

2023 Board Elections and Nominations

Two open positions are available on WPCCU’s Board of Directors. Both positions are for a 3-year term. One open position is also available on the Supervisory Committee for a 3-year term. If you are interested in running for one of these positions, please contact pamela.zeiden@wpcu.org or call 213-580-1621.

Members will vote on candidates nominated for the Board of Directors and Supervisory Committee at the annual meeting held on Wednesday, March 22, 2023.

Members may request to be placed on the election ballot by filing a petition. Petitions will be available online at wpccu.org/board-election or at WPCCU branches beginning October 5, 2022.

Nominations close at midnight on January 6, 2023. Only petitions received by the deadline will be considered.

Did you know?

Online chat now available

We’re excited to announce that you can reach us at wpccu.org via online chat.

Let’s be honest. We want to have a conversation with others, but don’t really want to call and talk to them. Right? With our new online chat tools, you can still get that personal WPCCU service when you chat with our Contact Center reps!

Have a question about new certificate rates? Need help applying for a loan online? Avoid a trip to the branch or a phone call, just click the "Let's talk" chat button at the bottom right of our webpage to start a chat! It’s that easy.

A piggy bank at the top of a flight of stairs.

Certificate laddering

Laddering is a strategy of setting up multiple savings certificates (CDs) with varying maturity dates. It allows you to earn higher yields offered on longer term certificates while having cash on hand as shorter term certificates mature. As each certificate matures, you can re-invest it into a longer-term certificate to continue the ladder.

For example, if you had $50,000 to invest, you could invest in 5 certificates of $10,000 each with terms of: one, two, three, four, and five years. As your one-year certificate matures, you would re-invest into another five-year certificate. So, a certificate would mature each year.

Laddering your savings certificates — As each certificate matures, reinvest it into the highest term to continue the ladder.

Featured certificate rate

**2.02% APY* / 2.00% Dividend Rate**

2-years
Minimum $1,000

* APY = Annual Percentage Yield. APY shown as of 8/15/2022 and is available for IRA and regular saving certificates. Subject to early withdrawal penalties. Savings certificate has a $1,000 minimum balance to earn 2.02% APY / 2.00% Dividend Rate. Dividends accrue upon deposit and are paid quarterly. Unless directed by certificate owner, accounts will automatically renew to a 24-month IRA/savings certificate upon maturity at the prevailing rate. Fees incurred could reduce earnings. WPCCU membership required. Rates subject to change without notice.

GET STARTED

All deposit rates

Understanding your credit score

Your credit score represents your credit risk, or how likely you are to pay your debts on time. All of the biggest consumer credit scoring companies use a credit score scale of 300 to 850. In general, the higher your score, the less of a risk you are to lenders.

How to Improve Your Credit Score

In order to improve your credit score, you should first know how it’s calculated. Your credit score is derived from looking at five factors: your payment history, the amounts you owe, the length of your credit history, your mix of credit in use and the number of new accounts you’ve opened. With that in mind, here are a few tips to help improve your score:

Request a free copy of your credit report at www.AnnualCreditReport.com
Check for any errors and get them corrected
Pay your bills on time
Only apply for new credit when you need it
Don’t spend too much on credit

What is the Federal Reserve?

The Federal Reserve, often referred to as “The Fed” is the central bank of the United States. The Fed conducts monetary policy and promotes stability within our financial system. Its decisions largely influences how much it costs businesses and consumers to borrow money. Those costs could mean the difference between a business hiring new employees and making investments or consumers pulling back on big ticket purchases.

Learn more about the Federal Reserve at www.federalreserve.gov/aboutthefed.htm

Anxious about your retirement account balance?

If you’re feeling anxious about what’s in your retirement account, a diversified portfolio makes good sense to generate returns from a mix of investments while mitigating risk during a market decline. We encourage you to contact our team of CFS^ Financial Advisors at WPCCU to review your short-term and long-term goals. Patrick Marshall and Bob Bayliff can provide you with insight and guidance based on your unique plans for the future.

^ Non-deposit investment products and services are offered through CUSO Financial Services, LP (“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 for investment services. Atria Wealth Solutions, Inc. (“Atria”) is a modern wealth management solutions holding company. Atria is not a registered broker-dealer and/or Registered Investment Advisor and does not provide investment advice. Investment advice is only provided through Atria’s subsidiaries. CUSO Financial Services, LP is a subsidiary of Atria.

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