Winter Edition 2020 The newsletter exclusively for members of Texans Credit Union

Currents NEWSLETTER
IN THIS ISSUE 2020 Annual Meeting | Money Myths You Need To Stop Believing Now | Keeping You and Your Money Safe | Texans Gives Back

Letter from the CEO

Fellow Texans,
As we start 2020, I’m pleased to be able share my thoughts with you, our members, in our first newsletter of the
year. It is a privilege and an honor to take the helm of an institution with a rich history and longstanding tradition
of excellence. Texans Credit Union surely is a special place.
As I settle in over the next few months and learn the intricacies union philosophy “people helping people.” I was excited to
of Texans, I look forward to the opportunities I will have to visit learn of the good Texans is doing in our local communities.
with some of you. I hope to see many of you at our upcoming Last year, Texans Gives Back volunteered over 1,100 hours of
Annual Meeting on March 19th. Your voice, along with providing community service to our neighbors and donated over 4,000
top-notch member service, will always remain a top priority for items of in-kind donations. More information on Texans Gives
Texans as we strive to provide EPIC service at each touchpoint Back in 2019 can be found inside this edition of the Currents.
from every level of the institution.
On behalf of everyone at Texans, I can say we’re looking
One large way we are improving member experience in 2020 is forward to a new year and all that it will bring. We value every
through a large “core conversion” project that will transform opportunity given to us to serve you, our member. Here’s to
our computing infrastructure. Team Texans will be putting in wishing you and yours a prosperous 2020.
thousands of hours of hard work to make sure you will have
seamless access to your accounts, self-service options, and
Yours in service,
responsive support. I look forward to sharing with you more
details on this project in the coming months.

With over two decades of experience in the credit union David Frazier
industry, I have a firm understanding and belief in the credit CEO / President
Member-owners of Texans Credit Union are invited to attend the
2020 Annual Meeting
Thursday, March 19, 2020 at 6:00pm
777 E. Campbell Road,
Richardson, TX 75081
RSVP at TexansCU.org/meeting
This brief meeting provides interested members with an
overview of the Credit Union’s accomplishments, and the
2019 Annual Report is distributed. A video of the annual
meeting and the annual report are available online after
the annual meeting.
Members in good standing who are at least 18 years of age on
or before March 19, 2020, may attend and participate. At this
year’s meeting, there are two Board of Directors positions up
for election. These positions are for three-year terms.
Nominations
Members may be nominated by the nominating committee or
petition*. The nominating committee nominates Ed Fawcett
and Estella Martinez to fill the two open Board positions.
Money Myths You Need To Stop Believing Now
We all grow up hearing the same financial advice: Spend less, save more, and invest early. While most of these
words of wisdom ring true, there are lots of widespread money management tips that are actually false.
Outlined here are 7 money myths that might be causing you more financial stress than benefit.
Myth: Debit is always better than credit. Do you
automatically reach for your debit card when making a
purchase? While it’s true that paying for expenses with
money you already have in your account is often the best
choice, there is a time and a place for credit cards as well. to interest, you’ll be paying back a lot more than you spend. You’re also more
The real deal: Credit cards get a bad rap sometimes,
but they may be your occasional payment method of
choice. First, many credit cards offer rewards in the form
of travel miles, cash-back systems and other bonuses.
Second, building and maintaining a strong credit history
is crucial for your financial wellness. The only way to
achieve this is by using your credit cards and paying your
bills on time. Finally, lots of credit cards offer purchase
protection, which makes them the smarter payment
method for big-ticket items. Texans CU offers two great
Visa cards that feature low rates and no annual fee,
meaning you can use a credit card without the guilt or
worry.
Myth: Investing is only for rich people. Investing is
for people who drive luxury vehicles and have homes in
three different states. Or is it?
The real deal: Anyone with a small pile of money
squirreled away can get a foothold in the stock market.
A smart investment strategy can be the best way to let
your money grow and put you on the track to financial
independence. If you’re a beginning investor, look into
passively managed index funds for an easy way to start
building your wealth.
Ed Fawcett has served as Vice-Chairman of the Board of Directors since 2016. After 34
years of service, Ed retired from Texans Credit Union in 2014 as the Director of Property
Management & Security. He has proven knowledge of leadership responsibilities in
holding office and is extremely devoted to upholding those duties. Ed is highly regarded
for his character and strong moral integrity by colleagues and former Texans coworkers.
Estella Martinez has served as Secretary of the Board of Directors since June 2016.
Estella was a founding member of local Tex-Mex restaurant, Matt’s Rancho Martinez,
and currently serves on the Matt’s El Rancho Board of Directors, sharing ownership
and operational responsibilities with other family members. Estella has served on
the Greater Dallas Restaurant Association Board, as well as the Texas Restaurant
Association Education Foundation Board. She also continues to be active with other
organizations throughout the community and the State of Texas.
Election Process
If valid nominations by all methods result in only one candidate per position, all such nominees are
considered elected by general consent. If valid nominations by all methods result in more than one
nominee for each vacancy, the elections are conducted by mail balloting and determined by plurality vote.
* Nominations shall not be made from the floor unless sufficient nominations have not been made by
the nominating committee or by petition to provide for one nominee for each position to be filled or
circumstances prevent the candidacy of one nominee for a position to be filled. Should these circumstances
take place and allow nominations from the floor, the election is conducted at the annual meeting.
Nominations by petition must be signed by at least 500 members who are eligible to vote. Each petition
may contain the name of only one nominee. No member may sign a petition by proxy or other device. Each
petition must be accompanied by a brief statement of qualifications and biographical data, and a signed
certificate stating agreement to serve if elected. Nominations by petition must have been filed with the
Board Secretary no later than February 3, 2020.
Myth: Credit cards will get me through any financial crisis. Why would I
need an emergency fund? I have credit cards!
The real deal: Depending on credit cards to get you through a financial
emergency is the perfect way to dig yourself into a deep pit of debt. Thanks
likely to overspend when you pay with plastic.
Credit cards should not be relied upon for a real financial emergency, such as
a job loss, divorce or illness. It’s best to build an emergency fund consisting
of three to six months’ worth of living expenses so you’re completely covered
for the unexpected.
Myth: I’m so young; I don’t need to think about retirement. Who can
think about retirement when it’s so far down the road? Besides, who can
afford to save for retirement when they’re bogged down with more pressing
expenses, like saving for a house and putting kids through college?
The real deal: There’s no better time to start planning and saving for your
retirement than right now. The younger you start building your retirement
fund, the less you’ll have to put away each month, and the more you’ll save
by the time you’re ready to retire. Gift yourself with a comfortable, stress-free
retirement by maxing out your 401(k) contributions, and/or opening an IRA
or another retirement fund. Start today and let compound interest work its
magic!
Myth: I have enough in my account to cover my expenses so I don’t need
to budget. Budgeting is for people who are barely squeaking through the
month. I have enough money; so why budget?
The real deal: Budgeting is for everyone. Without a realistic budget in place,
those pulling in a salary in the high six digits can easily spend their way into
debt. A budget will force you to make responsible money choices and to be
fully aware of the state of your finances at all times.
Keeping You and Your Money Safe
Scammers are always trying to con victims out of their information and money. They are, unfortunately, often
successful. Scammers are expert impersonators, using sophisticated technology and their best acting skills to
convince you they represent a business, institution or government agency you may trust. They also tend to prey on
the most susceptible victims, including those who are down on their luck or are exceptionally naïve and trusting.
Here at Texans CU, our biggest priority is your financial wellness, and that includes keeping you and your money
safe. To help you achieve it, we’ve put together this guide about recognizing the signs of fraud and protecting
yourself from scams.
10 ways to protect
Five red flags of scams   Who are the targets? yourself from scams
Scammers usually cast a wide net to ensnare as many victims as
While the details surrounding the
possible. However, lots of scams focus on a subset of highly vulnerable Keep yourself safe by following
way a scam plays out can vary
targets. Here are some of the most common targets of scams: these rules:
greatly, most follow a similar
theme. They try to get victims to  he Unemployed
nT 1. Never share personal
share personal information or to  The internet makes it easy for scammers to learn that you’re looking information online.
pay for a service or product that for a job. If you’re job hunting, be careful not to respond to any emails
doesn’t exist. Here are five ways to 2. Don’t open unsolicited emails.
offering you a “dream position” you never applied for or even knew
spot a scammer: If you already have, don’t click on
about.
any embedded links.
1. They demand detailed n The Aging
information before agreeing to 3. Never send money by insecure
Older people are another favorite target for scammers. Retired means to an unknown party.
process an application.  individuals often spend lots of time online, making them more
A favorite ploy among scammers vulnerable to scams. Also, as relative newcomers to the online world, 4. Protect your devices by using
is asking for sensitive, non-public they may be less aware of the dangers lurking on the internet. the most up-to-date operating
information like your date of birth, systems, choosing two-factor
Social Security number and login n Children  authentication and using strong,
information for online accounts. Sadly, the youngest members of society are another huge target pool unique passwords for every
They will typically do this before for scammers. Children are naturally trusting and will more readily account.
processing any application for an share information with strangers, which can then be used to steal
their identity. Small children will likely not be checking their credit for 5. Choose the strongest privacy
alleged product, service, or job.
years, which means a stolen identity can go unchecked until the child settings for your social media
2. They insist on a specific grows into a young adult. By that time their credit can be wrecked, accounts.
method of payment.  almost beyond repair. 6. Keep yourself in the know about
If an online seller or service
the latest scams and learn how to
provider will only accept payment
What do scams look like? protect yourself.
through a wire transfer or a prepaid
debit card, you’re likely looking at Here are some of the most common scams: 7. Educate your kids about basic
a scam. computer safety and privacy.
n Cyberhacking
3. They send you a check for an In this scam, hackers gain remote access to your computer and 8. If you have elderly parents who
inflated amount.  proceed to help themselves to your personal information. spend time online, talk to them
Another favorite trick among about common scams and teach
n Phishing scams
scammers is to overpay a seller them to protect themselves.
Scammers bait you into sharing personal information via a bogus
or “employee,” and then ask the 9. Don’t take the identity of callers
job form, an application for a service they allegedly provide or by
victim to return the extra money. In at face value, even if your Caller ID
impersonating a well-known company or government agency.
a few days’ time, when the original, verifies their story. If a government
inflated check doesn’t clear, n Mystery shopper agency, utility company or
the victim realizes they’ve been A bogus company will “hire” you to purchase a specific item in a financial institution reaches out to
conned but it’s too late to get back store and then report back about the service experience. Before you and asks you to share personal
the “extra” money they returned. you get started, though, you’ll have to pay a hefty fee, which you’ll information, tell them you’ll
never see again. contact them on your own and
4. You can’t find any information
about the company the caller n Job offers then end the call.
allegedly represents.  Scammers “hire” you for a position and then scam you by sending you 10. Never accept a job or agree
A scammer representing a bogus an inflated check, as detailed above. to pay for a purchase or service
business can easily be uncovered without thoroughly researching
by doing a quick online search n Sweetheart scams
A scammer pretending to be an online lover will con you into sharing the company involved.
about the “company.”
your personal information and/or sending them money and gifts. Above all, remember the golden
5. You’re pressured to act now.  rule of scams: if it’s too good to
Scammers are always in a rush to n Fraudulent investments
be true, it’s probably a scam.
complete their ruse before you Scammers reach out to potential investors with information about
catch onto their act. lucrative investments that don’t exist.

Once an individual falls prey to a scam, there is very little that can be done to mitigate the loss. Full financial recovery can take
years. It’s best to protect yourself from scams before they happen by educating yourself and asking Texans CU for help. If you
believe you have fallen victim to a scam, please reach out to us as soon as possible at 972.348.2000 (800.423.5295).
Updates from Texans
Holiday Branch Closures:
All branches are closed for the
following upcoming holidays
n Memorial Day
Monday, May 25
n Independence Day
Saturday, July 4
These notifications and other disclosures can be found at TexansCU.org/disclosures.
COMPLAINT NOTICE NOTICE TO MEMBERS
If you have a problem with the services provided by this credit union, ABOUT DOCUMENT
please contact us at: Texans Credit Union, PO Box 853912, Richardson, AVAILABILITY
TX 75085; 972.348.2000. The credit union is incorporated under the Pursuant to Texans
laws of the State of Texas and under state law is subject to regulatory Credit Union Department
oversight by the Texas Credit Union Department. If any dispute is not Rule 91.315, documents
resolved to your satisfaction, you may also file a complaint against the relating to Texans
credit union by contacting the Texas Credit Union Department through Credit Union’s finances
one of the means indicated below: In Person or U.S. Mail: and management are
914 East Anderson Lane, Austin, Texas 78752-1699, available by contacting
Phone Number:512.837.9236, Fax Number: 512.832.0278; us at 972-348-2000 or
Email: complaints@cud.texas.gov,or Website: www.cud.texas.gov. 800-843-5295.

Texans Gives Back – Annual HopeKids Halloween

Texans CU hosted HopeKids Halloween for the fourth year in a row. HopeKids is an organization that provides
families with terminally ill children with hope-filled events that spread joy and positivity during trying times.
HopeKids families were invited to trick-or-treat through the decorated halls of our headquarters, providing
them with a safe place to enjoy the festivities of Halloween. Take a look at a few photos from our 2019 event.

P.O. Box 853912 n Richardson, Texas n 75085-3912

972.348.2000 or 800.843.5295
www.TexansCU.org

We Do Business in Accordance with the

Federal Fair Housing Law and the Equal
Credit Opportunity Act.
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