SHAREHOLDER’S EDGESHAREHOLDER’S EDGESHAREHOLDER’S EDGESHAREHOLDER’S EDGE

JANUARY 2020

It’s Great to Be a Member!Howard University Employees Federal Credit Union membership has its benefits!

We’re a not-for-profit financial institution, which means that any profits we make, we return to our members in the form of great rates and lower fees.

It’s how we’re able to offer better deals, such as lower loan rates, than most banks. With our competitive loan rates, you’ll save money with us when you take out any of the following:

a An auto loan for a new or used cara A line of credita A signature loana A share secured loana A second chance loan designed to

help you get your finances in orderWe offer a variety of terms on each of these loans so that you can find a payment

that fits within your budget. It’s our goal to make borrowing from us quick and easy!Visit www.huefcu.org/loans today print a loan application.

Quick Tips for Taxes

Here are a few things you can do to get your taxes done and expedite your return.

Save Your Year-End Statement

Hang on to your December 2019 statement. In it you’ll find your total dividend earnings. You’ll need that information to file your taxes. If your dividends come to more than $10, we will also send you an IRS Form 1099 by the end of January.

Get Your Refund SoonerIf you choose to have the IRS deposit

your refund to your HUEFCU account, it can expedite your refund. You’ll need your credit union Member Number as well as our Routing and Transit Number: 254074727.

Start Saving for Next HolidaySaving for the holidays is easy with a Credit Union Holiday Club

Account. Authorize an allotment from your paycheck for your regular deposits every payday and watch your savings grow!

• $5 minimum balance to open the account and begin earning dividends

• Holiday funds are transferred after the first payday in October to your choice of savings or checking account.

• A minimum of 2 withdrawals are allowed from this account with a fee of $10 each. If a third withdrawal from this account is requested it will be closed until the next enrollment period.

• Payroll deduction available for systematic and regular deposits

Contact the credit unionat 202-806-6128 for more details.

Howard University employees Federal Credit Union

www.huefcu.orgMain Campus

525 Bryant Street, NW, Room C-102 Washington, DC 20059 Phone: 202-806-6128 Fax: 202-806-4511

Mortgage Hotline: 703-667-9280Routing Number: 254074727

NMLS #1130623

Federally Insured by NCUA

Loan RatesEffective April 1, 2015

Auto Loans New and Used As low as 1.99% APR* (New vehicles financed up to 125% of the

purchase price plus tax, tags, extended warranty, and GAP insurance. Used vehicles shall not exceed 100% N.A.D.A. Official Used Car Guide retail value plus extended warranties, taxes and tags.)

Signature Loans As low as 10.00% APR

Lines of Credit—HUCASH 8.95% APR

Share Secured Loans up to 60 months 4.00% APR

*APR = annual percentage rate. Your rate may vary based on credit history. Other rates and terms available.

Dividend RatesAll Share Accounts .10% APY* Effective October 1, 2011 (Subject to change quarterly.)

*APY = annual percentage yield

StaffMr. Michael E. Hines, CEOMs. Chaweewan Boykin, Operational

Accountant

Office HoursMon., Tues., Wed., Fri.: 8:30 am to 3:00 pm

Thurs.: 8:30 am to noon

Statistics as of November 30, 2019

Assets $9,519,020Shares $7,390,715Loans $6,621,192Members 1,361

HolidaysNew Year’s Day —

Wednesday, January 1, 2020Martin Luther King, Jr. Day —

Monday, January 20Presidents Day —

Monday, February 17

E Printed on recycled paper with soy ink© 2019 visions, ink. 391188 12/19

Dormant Account ReminderAn account is considered inactive after one (1) full year with

no activity. The account is considered dormant or abandoned after three (3) years with no activity and funds must be forfeited to the District government. Inactive accounts with HUEFCU are assessed a monthly service fee of $5.

Switch to Sprint and Be Rewarded

Did you know that all HUEFCU members are eligible to earn cash rewards on their cell phones? Take advantage of this Sprint offer from Love My Credit Union® Rewards. With Sprint Perks, HUEFCU members get more!

Switch to Sprint and receive: • $100 cash reward per line on

up to 2 lines• $100 annual loyalty reward

per account• 25% off accessories at Sprint

retail locationsVisit https://sprint.lovemycreditunion.org/

sprintrewards to confirm eligibility and receive your cash rewards.

Already a Sprint Customer? Register for cash rewards at https://sprint.lovemycreditunion.org/sprintrewards or

with the Love My Credit Union Rewards app found in your smartphone app store.Current Sprint customers are eligible to earn a $100 loyalty reward per account and 25%

off select accessories at Sprint stores.

Start Your New Year with Extra Cash

We have a post-holiday gift to help ease into the new year.With the HUEFCU Skip-A-Payment program, members

who are in good standing and have had no delinquencies in the last six months can apply to skip one monthly or two bi-weekly loan payments from January 1 to January 31.

The loan will still accrue interest and there is a $25 charge, but you will not incur any late fees or damage your credit record.

Apply online or stop by the branch and pick up a Skip-A-Payment application.

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