Taming Credit Card Debt
Deals & Discounts,
Investing & Budgeting,
Tips & Tricks
ACU Newsletter: Winter 2025
2025 is a significant number. We are now a quarter through the 21st century as well as in the 71st as your credit union. The new year will bring many new technologies and ways that we can better serve you. Our mobile and home banking apps will receive cosmetic and structural upgrades. We will continue to grow our ability to communicate by text with you.
While our electronic methods of serving you continue to grow, we are making strategic decisions of where we need physical branches. Tumwater will see a new branch come on-line this Spring as we assess where and how to best serve our members. 2024 saw record sales in our Home Loan Center, particularly growth with HELOCs. With rates inching down, we anticipate more activity in home buying.
Auto lending is growing, and we anticipate being able to refinance many of the vehicles that other institutions financed during the heights of interest rate increases. Our family of Visa cards continue to provide some of the lowest interest rates in the region.
2025 is looking Fantastic!
The Benefits of Saving with an IRA Account
As we plan for our financial futures, it’s essential to consider the best ways to save for retirement. One of the most effective tools available is an Individual Retirement Account (IRA). Here’s why saving with an IRA can be a game-changer for your retirement planning:
1. Tax Advantages
One of the most significant benefits of an IRA is the tax advantage it offers. With a Traditional IRA, your contributions may be tax-deductible, reducing your taxable income for the year. This means you can potentially lower your tax bill while saving for the future. On the other hand, a Roth IRA allows for tax-free withdrawals in retirement, as contributions are made with after-tax dollars. This can be particularly beneficial if you expect to be in a higher tax bracket when you retire. Consult your tax advisor.
2. Compound Growth
IRAs allow your investments to grow tax-deferred (Traditional IRA) or tax-free (Roth IRA). This means you won’t pay taxes on the earnings each year, allowing your savings to compound more quickly than in a taxable account. Over time, this can significantly boost your retirement savings.
Taming Credit Card Debt
Credit card debt is a common financial challenge for many Americans. As of 2024, the average credit card debt per person in the U.S. is approximately $6,380. With interest rates on credit cards averaging around 20.27%APR, managing multiple high-rate credit card balances can be overwhelming and costly.
Consolidating high-rate credit card debt onto a lower-rate credit card, such as the America’s Credit Union Platinum Visa, offers several benefits:
- Lower Interest Rates: The America’s Credit Union Platinum Visa offers a competitive APR* ranging from 10.04% to 18.00%, significantly lower than the national average. This can result in substantial interest savings over time, allowing more of your payments to go towards reducing the principal balance.
- Simplified Payments: Managing multiple credit card payments can be confusing and increases the risk of missed payments. Consolidating your debt onto a single card simplifies your financial management, making it easier to keep track of due dates and payment amounts.
Business Member Spotlight – Fit Life Studio
At America’s Credit Union, we believe in supporting the dreamers, doers, and change-makers who make our communities better. Tessa Effland is one of those individuals. Through her unwavering commitment to wellness and connection, she’s not only built a thriving business with Fit Life Studio but has also created a safe space where people feel seen, supported, and empowered to become the best versions of themselves.
Tessa’s energy, vision, and dedication are what make her a valued member of the ACU family, and a shining example of the incredible impact local businesses have on our communities. We’re honored to walk alongside her on this journey, providing the financial solutions she needs to continue growing her business and making a difference.
Thank you, Tessa, for inspiring us all to live stronger, healthier, and more connected lives. Your work at Fit Life Studio reminds us that fitness is more than movement—it’s about building lasting relationships and uplifting the community. Together, we’re stronger.
America’s Credit Union – Here for Local Leaders, Here for You.
Mobile Banking Update Coming
We are finalizing the updates and upgrades to mobile and desktop banking services. The conversion will take effect on the night of February 11, 2025. The changes will provide enhanced security messaging, fraud alerts, and an updated interface. So, whether you are in a light or more shaded mood, you’re set!
Follow the link to learn more about the new enhancements and have a sneak peek of the interface.
Setting Financial Goals for the New Year
As we enter 2025, it’s a great time to start thinking about what financial goals you want to set for yourself this year. Whether you’re looking to pay off debt or save more money, setting concrete financial goals can help you stay on track and make your dreams a reality. Here are some tips from ACU on how to set financial resolutions that you can stick with in the new year.
Creating Achievable Goals
When creating your financial goals, make sure they’re realistic and achievable. It’s easy to get carried away when making New Year’s resolutions, but if you don’t think your plans through and create achievable goals, it will be difficult to stay motivated over the course of the year. This could be anything from making additional payments towards one credit card balance each month, to saving an extra $50 a month.
Tumwater Branch
As you can see, the Tumwater branch is quickly becoming a reality! We have been hearing from so many people in the Tumwater community how they are excited about it. While the construction is moving along, the ultimate completion date will be sometime this spring/summer.
The branch will serve as a hub for our members and local businesses as well as a link to our growing membership in Thurston County. We also look forward to building on our partnerships with SPSCC and Tumwater Parks and Recreation.
2024 Knoble Award Winner – Jen Lamont
We are thrilled to announce that our BSA & Fraud Manager, Jen Lamont, has been recognized by The Knoble as a 2024 award winner for Excellence in the Fight Against Human Crime. This award celebrates outstanding individuals who have made significant contributions in the fight against human crime, including human trafficking, financial scams, elder financial exploitation, and child sexual exploitation.
Jen Lamont was specifically honored for her Excellence in Elder Financial Exploitation Prevention. Her unwavering commitment to safeguarding older adults from financial exploitation has been unparalleled. Jen has led critical conversations and driven the development of vital resources that empower communities to protect their seniors. Her efforts have not only raised awareness but also provided practical solutions to prevent elder financial abuse.
ACU Annual Meeting
The 2025 Annual Meeting to review 2024 is scheduled for March 12, 2025, from 9:00am to 10:00am (doors open at 8:30am) in the ACU DuPont Training Room – Suite 280.
Board Nominations
The following names have been nominated to serve on the ACU Board of Directors. They will be voted on during the ACU Annual Meeting this Spring.
Position #1: Thad Collard (3 Year Term)
Thad Collard is a Brigadier General with the U.S. Army Reserve and a Supervisory Health System Administrator for Madigan Army Medical Center.
He graduated with a BS in Biomedical and Mechanical Engineering from the University of Southern California and was commissioned as an Army Medical Service Corps Officer. While serving on active duty at Fort Carson, Colorado, he also earned a Master’s in Business Administration from the University of Colorado at Colorado Springs. He attended the resident Army War College and earned a Master’s in Strategic Studies.
Thad has served in the Army and Army Reserve for more than 28 years and has held command and staff positions at every level. He has been mobilized in the U.S. and deployed to Afghanistan. Thad has held numerous positions in property, business and healthcare management for more than 20 years.
Thad served on the ACU Supervisory Committee for over 10 years and has served on the Board of Directors since 2023.
Position #2: Colleen Oczkewicz (3 Year Term)
Colleen Oczkewicz is a Board-Certified Public Accountant. She obtained her undergraduate degree from Saint Martin’s College and MBA from Seattle University.
Currently, Colleen holds the position of Chief Financial Officer of the South Sound YMCA where she has served in that role since 2012. Prior to joining the YMCA, her experience was primarily in the manufacturing setting. She held a variety of positions with PACCAR, including acting as the Assistant Plant Controller for Kenworth Truck Company’s Renton factory. She also served as the Plant Controller for Spring Air Northwest.
She is a Washington native and proud parent of a U.S. Air Force Academy cadet.
*APR=Annual Percentage Rate. Your APR for purchases is 10.04% – 18.00% based on your creditworthiness and will vary with the market based on the Prime Rate. This transaction is subject to credit approval.
**Securities and advisory services offered through Cetera Advisor Networks LLC, Member FINRA/SIPC a Broker/Dealer and a Registered Investment Advisor. Cetera Advisor Networks and America’s Credit Union are not affiliated companies • Not NCUSIF insured •No Credit Union Guarantee • Not a deposit • May lose value • Not insured by any federal government agency.
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