News and Tips from GOFCU

Federally Insured by NCUA

WINTER 2020

Gifts. Decorations. Travel. There are so many fun things to spend money on this time of year. As much as we want to stick to a budget, spending can get out of hand quickly, and then we start the New Year with debt from the past. When you look at the top New Year’s Resolutions, you will find that getting in shape, losing weight, saving more money are always at the top of the list.

In 2020, let GOFCU help you save money and pay off your debt wisely. Here are some tips on how to tackle your debt from the past.

1 • Don’t Neglect Saving When paying off debt, many put larger payments against their credit card or other loans and neglect their savings account. It’s important that you continue to build up your savings account so when an unexpected bill comes up, you can pay it without having to use a credit card. Our Kasasa Saver account is especially helpful and can build up your savings account faster.2 • Make a Budget and Follow It A budget is an essential step in the process of financial wellness. Sticking to the budget is just as or more important in helping you get where you want to go. Use online tools, spreadsheets, or even the Geezeo tool in online banking. 3 • Snowball Your Debt Payments If you have more than one loan or credit card payment, make the largest payments to the account with the highest interest rate and pay minimum on the rest. Once you pay off the first, you can make additional payments to the next highest interest rate, and so forth. 4 • Cut Unnecessary Spending Take a look at each expense and see if you can live without it. If so, cut it out for the time being. 5 • Never Miss a Payment or Pay Late Late fees are money down the drain. Never miss a payment and if accruing interest, pay as early as you can. 6 • Automate Payments Make use of automatic payments or GOFCU’s bill payment service to schedule payments and ensure you never pay a late fee. 7 • Use Extra Cash Wisely Exercise self-control and put any extra cash you get from bonus money, birthday money, or tax-refunds into your savings account. 8 • Know the Difference Between Good and Bad Debt When trying to get out of debt, avoid taking on more debt. Try not to make new charges on your credit cards or take out new loans. Some debt, however, can help you get ahead. For instance, investing in rental property or buying a house instead of paying rent each month. 9 • Refinance, but Cautiously If you receive an offer to refinance or transfer a credit card balance to a lower rate, go for it, but proceed with caution. Be sure you are clear about any associated costs, such as balance transfer fees. These fees can end up costing more than the total you will save in interest expense. Take a look at GOFCU’s Visa Credit Card in the section below. 10 • Consolidate If you have several debt accounts, payments can become complicated. When you consolidate debt into one loan, you have one monthly payment. Debt consolidation loans also have lower interest rates than most credit cards. As a result, consolidating not only means simpler payments, but also money saved in the long-run. Consider a Home Equity loan to help with this. Let 2020 be the year! In this issue, we highlight some of the products and services that will help you save money or help you consolidate debt in a way that makes sense.

NEW YEAR’S RESOLUTIONS: Top 10 Tips for Paying off Debt IN THIS EDITION: New Year’s Resolutions | GOFCU Visa | Home Equity Loan | TurboTax Offer | Travel Club | Auto Refinancing

Dear Members,

For the past 82 years, GO Federal Credit Union has been a beacon for members as together we navigated the swings in the economic cycles. Today, our credit union stands even better prepared to serve you in the pursuit of your dreams. For some members, GOFCU is a source of friendly prompt service from people who know you as a person and not as a statistic. For others, GOFCU offers competitive rates on a wide range of services that reflect the interests of our communities.

Although the technology and the range of member services have evolved, the core values of this institution remain stable. Our only goal is to meet the needs of our members, who are also the owners of this organization.

Once a year I have the privilege of announcing the upcoming board of directors’ election for GO Federal Credit Union. This is a privilege because I take great pride in the commitment of our volunteer board of directors.

Our democratically elected directors are responsible for the fi-nancial integrity of the credit union and for compliance with federal laws. They serve as unpaid volunteers and must be avail-able to attend regularly scheduled meetings throughout the year. Our board members invest a great deal of their personal time and energy to ensure GOFCU is an institution that stays true to the credit union philosophy of “People Helping People”. As a board, we care about the people who are our member owners and our employees who work hard to serve our members. As your chair, it has been an honor to be part of this team, and I would like to thank my fellow directors for their generous contri-butions to GOFCU.

As in the past, we will be electing board directors at the upcom-ing annual membership meeting. This year’s Nominating Com-mittee is proud to announce the board of directors’ nominees for three positions that are expiring:

2019 has been a fantastic year for GOFCU and in 2020 we will continue to focus on empowering our membership to interact with GOFCU at their convenience. Growing our membership, listening to our members needs, and being able to provide the best products at the right price continue to lie at the forefront of what we do. With that, our member privacy is always top of mind. We pride ourselves on keeping your data safe and secure.

Looking back, banking has dramatically changed over the years. With online banking, mobile banking, remote capture, person to person payments and other advances in technology, financial information is at your fingertips anytime and anywhere. In many ways, this technology has leveled the playing field for banks and credit unions, all the while establishing the need for a working relationship with your financial institution.

At GOFCU, we understand what sets us apart from our competition isn’t just the great products we offer, but our

• Raul Mercado, currently director, who has agreed to seek re-election, three-year term

• Kevin Crawford, currently director, who has agreed to seek re-election, three-year term

• RaFaye Nesmith, currently director, who has agreed to seek re-election, three-year term

Nominations for the board of directors, other than those named above by the Nominating Committee, may be made only by petition and will not be accepted at the annual membership meeting. Nominating petitions must be signed by 1% of the members (approximately 160 signatures) and must be filed with the secretary of the credit union:

GO Federal Credit UnionPO Box 671149 • Dallas, TX 75367

No later than February 10, 2020 to be considered (this an-nouncement serves as notice to all members eligible to vote – age 18 or older.) For more information about the election, please contact Nominating Committee Chair, Sandy Thornton, P.O. Box 671064, Dallas, TX 75367.

As a member and an owner of GO Federal Credit Union, I urge each of you to attend the annual membership meeting on March 26, 2020 (watch for details). I look forward to seeing you there!

On behalf of our volunteer board and GOFCU staff, we are proud to continue serving as your financial institution of choice.

Sincerely yours,

Raul MercadoChair

employees. They take the time to listen and hear our members and understand their financial motivations. This allows us to provide advice on financial services that truly matter. With 76% of consumers living paycheck to paycheck and 70% of consumers not having extra money to set aside for retirement, there is no room for error! That is why we feel it’s important to have those conversations with our members and help them on their financial journey.

For over 82 years we have been caring for you and your financial needs. We believe 2020 will be another exceptional year. Re-explore the conveniences of your credit union and tell your friends and family. Let us help you on your financial journey. You won’t regret it…

Bert BealPresident/CEO

CHAIR’S LETTER

FROM THE PRESIDENT

GET YOUR BIGGEST REFUND

AND SAVE!

Love My Credit Union Rewards has partnered with TurboTax to offer credit union members great savings on TurboTax products. Credit union members have saved over $16M on the #1 best-selling tax software and so can you!

TurboTax guarantees 100% accurate calculations so you can be confident your taxes are done right and get your biggest possible refund. And with TurboTax Live, you can even talk with a tax professional onscreen for unlimited advice and a final review of your return.

Save up to $15 on Turbo Tax federal products by going to https://www.mygofcu.org/love-my-credit-union-rewards/

See TurboTax product guarantees: http://turbotax.intuit.com/lp/yoy/guarantees.jsp © 2014-2017 Intuit Inc. All rights reserved. Intuit, TurboTax and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Other parties’ trademarks or service marks are the property of their respective owners.

IS YOUR NEW YEAR’S RESOLUTION TO SAVE MONEY?If so, stop overpaying and drive down your auto rate with GOFCU! If you are looking to refinance your auto loan or get a new car soon, let GOFCU help you save on a new or used auto loan with rates as low as 2.39% APR* and no payments for 90 days! That will let you kick-off the New Year in style and save money! *APR = Annual Percentage Rate. Rates, conditions and terms may vary based on an individual’s credit worthiness and credit union underwriting guidelines. The rate of 2.39% APR is for a 36-month term and includes the purchase of qualifying products and/or refinance promotional rate discount. Other terms and rates are available.

MAKE YOUR NEW YEAR A HAPPY ONE!Say goodbye to high interest credit cards and holiday debt.

Start 2020 off right and enjoy lower interest rates, no annual fee, no cash advance fee, and no balance transfer fee with a GOFCU™ Visa Credit Card.

Apply today by phone at 214.742.6551

Online at www.mygofcu.org/credit-cards

Or stop by one of our branches.

LOOKING TO PAY OFF HIGHINTEREST DEBT?

If you are looking to pay off your high interest debt from credit cards, consider a HOME EQUITY LOAN from GOFCU. A home equity loan uses your house as collateral and is the perfect solution to borrow for home improvements, debt consolidation, college expenses, or just about anything you can imagine. With rates remaining low, a home equity loan is a smart option for your home improvement projects or other expenses. For more information, contact us at 214.742.6551.

Are you ready to book your 2020 Summer Vacation? GOFCU has teamed up with Credit Union Travel Club to bring members big savings on travel! Credit Union travel is an online travel booking site exclusively for our members, unlocking real savings on hotels, cruises, vacation packages and more! Accept this annual $99 membership, for free, as a “thank you” for being a loyal member of GOFCU. Members save an average of $46 per night on hotels compared to “big name” travel sites. Start saving now by going to https://www.mygofcu.org/credit-union-travle-club/ and sign up for free!

Each member’s savings may vary based on date of travel and availability.

SAVE MONEY WITH CREDIT UNION TRAVEL CLUB

Holiday Closings WED 1.01 New Year’s | MON 1.20 Martin Luther King Jr. Day | MON 2.17 Presidents’ Day

Central Expressway Branch4040 N. Central Expy, Dallas, TX 75204

Lancaster Branch3200 W. Pleasant Run Rd, Lancaster, TX 75146

Corporate Offices 10501 N. Central Expwy., Ste.300, Dallas,TX 75231 | 888.742.6551

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Board of Directors Raul Mercado, Chair | Sandy Thornton, Vice Chair | Kevin Crawford, Secretary/Treasurer | Wayne Gibson Mable Haynes | RaFaye Nesmith | Maggie Rubin Supervisory Committee GO Federal Credit Union, P.O. Box 671149, Dallas, TX 75367

Gerald Gafford, Chair | Maggie Rubin, Secretary | Jerry Huggins | Raul Mercado

© 2019 GO Federal Credit Union. All rights reserved.

Your GOFCU account is considered ‘inactive’ when you have not had any activity on the account for 24 consecutive months (Kid’s Club and Smart Start club accounts excluded).

GOFCU will attempt to inform you if your account is in danger of being classified as ‘inactive’. Should your account become ‘inactive’, a $10 fee will begin to assess monthly until the account is activated. To prevent an ‘inactive’ account and avoid the assessment fee, simply conduct a deposit or withdrawal transaction on your account.

Questions or need assistance? Contact us at 214.742.6551.

214.742.6551 • www.mygofcu.org

WHAT IS AN INACTIVE ACCOUNT? WHAT DOES IT MEAN FOR YOU?

PRIVACY NOTICE Federal law requires us to tell you how we collect, share and protect your personal information. Our Privacy Policy has not changed. You may review our policy and practices to your personal information on our website, www.mygofcu.org (click on Privacy Policy at the bottom of the home page). Or, we will mail you a free copy upon request if you call us at 214-742-6551.

TRY KASASA® FREE CHECKING AND KASASA®SAVER ACCOUNTS.

When it comes to checking and savings, you’ve got options and Kasasa…It just makes sense! Receive either a really high interest rate or cash back on your debit card purchases, refunds on ATM withdrawal fees nationwide up ro $25, NO MONTHLY FEES, and it all adds up to more money for YOU! Why pay monthly fees for a regular old checking account? Free Kasasa Checking actually pays you to bank with us. This free account pays for things that you are probably already doing.1 It’s the checking account you’ve always deserved.

Visit www.mygofcu.org or contact member services at 214-742-6551 for details on Kasasa Checking and Kasasa Saver accounts. 1Account approval, conditions, qualifications, limits, time frames, enrollments, log-ons and other requirments apply. Qualifications and rewards may vary by account. There are no recurring monthly maintenance charges or fees to open this account. Kasasa is a trademark of Kasasa Ltd., registered in the U.S.A.

IN 2020, TAKE BACK YOUR CASH, YOUR FEES…YOUR CONTROL