Check out the latest edition of PostScripts
 
 
IN THIS ISSUE
 
 
  • Upcoming USPS FCU Election 2023
  • 10 Financially Savvy Moves for Your 20s & 30s
 
 
  • Better Savings Delivered
  • Go Green – Save Green!
  • Boost Your Financial Knowledge
 
  • IRAs, 401(k)s & Saving for Retirement
  • Give the Gift of Life
  • Holiday Closings
 
 
 
wreath
 
Wishing Our Members Happy Holidays
On behalf of your friends at USPS FCU, we hope your holidays are happy, healthy, and full of good cheer!
 

 

USPS FCU Board of Directors Election 2023
 
There is an upcoming U. S. Postal Service Federal Credit Union Board of Directors Election taking place next year. A Nominating Committee will be appointed to nominate at least one member for each of the four (4) two-year term vacancies that will become available on the Board next June. Nominations must be received no later than February 17, 2023. The slate of nominations for the vacant positions will be announced in the 2023 Spring PostScripts.

Nominations
Eligible members interested in serving as a U. S. Postal Service Federal Credit Union Director may call Betty Myers at (1-301-576-1316) to request a Nominee Application Package with instructions for consideration by the Nominating Committee. Members may also be nominated by a petition submitted to the Secretary and signed by one percent (250 members) of the Credit Union's membership, along with a statement of qualifications, biographical data, and a signed certificate stating you are agreeable to the nomination and will serve if elected to office. In the event there are more nominees than vacancies, an election will be conducted by ballot. The results of the election will be announced at the USPS FCU Annual Meeting in the summer of 2023.
 

money
 
 
10 FINANCIALLY SAVVY MOVES FOR YOUR 20s & 30s
 
Everyone knows the adage “time is money,” and that adage certainly applies to making the most of your money in your 20s. Those in their 20s and 30s have the greatest financial asset of all – time. Time makes money grow when it is invested wisely. Here are 10 financially savvy moves for 20- to 30-somethings.
 
  1. Set financial goals. Put them in writing and calculate how much you’ll need to save monthly to reach your goals. Remember to make note of the big and small financial goals – from going on spring break next year to retiring early.
  2. Make a budget and stick to it. Limit debt to your ability to pay it off. Monthly credit payments (not including mortgages) should not go over 20% of your net income. Also, start by paying off existing bills before incurring new ones.
  3. Start building an emergency fund. This should be equal to three to six months of living expenses and should be used ONLY in the case of an emergency.
  4. Save at least 15% of your gross income. Put it in your emergency fund, toward future goals and retirement. If you can’t make 15%, start smaller, around 8-10%, and work up to that 15%. Saving any amount is better than none.
  5. Take advantage of the financial services U. S. Postal Service Federal Credit Union offers to you as a member.
  6. Get proper insurance. This includes health, disability, auto, renters/homeowners and life insurance.
  7. After you’ve completed steps 1-6, start investing small amounts of your savings. Do this gradually over time, with sensible contributions where you see fit.
  8. Save money for retirement. Use a tax-advantaged savings plan from your employer, like a 401(k), or open an IRA from USPS FCU.
  9. Keep your job skills fresh and up to date. This will keep your job options open and will allow for salary increases.
  10. SAVE ALL FINANCIAL FILES. Do so in an orderly and easily accessible system so you have them readily available when you need them. This will help you keep track of your money and understand how and where to cut back on excessive expenses that appear to be more “want” than “need.”
 
 
Mailbox Mail Money
 
BETTER SAVINGS DELIVERED
You work hard for your money, so why not let your money work for you? 
 
Open your 6-Month Money Market Certificate today and get 3.76% APY!*

Get started with as little as $5,000.* Contact us to get started today.

Use this SAVINGS CALCULATOR and see how much your money can earn for you.
 
HURRY, this is for a LIMITED TIME ONLY!
 

*APY=Annual Percentage Yield. Offer for limited time only. This offer may not be combined with any other offers or coupons. Opening deposit must be made with funds from another financial institution. Subject to penalties in the event of early withdrawal. Visit our website for more details.

 

 
 
electric car
 
Go Green – Save Green!
Earn a special discount on your auto loan for a hybrid or electric vehicle.
 
We’re helping members make eco-friendlier choices while saving even more on their auto loans. When purchasing or refinancing a hybrid or electric vehicle, you’ll earn an additional 0.25% off your rate for both new and used cars!

Plus, you’ll also enjoy our other great benefits, including:
  • Low rates
  • Terms up to 84 months
  • Loan amounts up to $75,000
  • Up to 120% LTV (including tax, tags, title, extended warranty, gap insurance, and more)
  • Auto Link Car Buying Service with discount pricing opportunities to get you the best deal, plus receive a VIP discount card and more...
  • Discounts on auto insurance
  • Low pricing on GAP (Guaranteed Auto Protection) and Vehicle Service Contracts
 
When preparing to make a decision as important as purchasing your next car, come to us for financial help. Apply or get preapproved online today!
 
 
 
Boost Your Financial Knowledge
 
GreenPath is our free education service that comes along with your USPS FCU membership. Through GreenPath, you will have access to a plethora of FREE resources that can help you achieve your financial goals, including useful webinars that cover a wide range of financial topics! Two benefits that GreenPath would like its users to gain from their services are financial literacy and overall financial wellness. Check out 5 Resources to Build Financial Literacy.
 
Here are some GreenPath webinars that you may have recently missed:
 
 
 
 
 
 
 
 
 
 
 
 
 
More GreenPath webinars are coming soon! Be sure to check out the many resources available online.
 

 
 
IRAs, 401(k)s & SAVING FOR RETIREMENT
 
If you’re wondering how much to save for retirement, a lot of factors may play into your answer. For example, women live an average of seven years longer than men and even today earn 75-80% of what men do – meaning women have to save more and budget better.

For another, today’s inflation means that Millennials and Gen Z should prepare to save even more. Yahoo Finance estimates that, to live comfortably for an estimated 20-year retirement, you should have $3 million in savings. This is perhaps on the higher side for some people, but it’s always better to try to save more and prepare for inflation if you can.

Even if you’re not sure about your end goal, you can easily start preparing now. IRAs and your employer’s 401(k) provide great opportunities to help you save. Here’s a brief rundown of these strategies and how they’re different to get you started.

401(k)
  • A 401(k) is a retirement savings and investment fund offered by your employer.
  • There are several types of 401(k)s, each with different features – the most important of which being when your tax break is applied.
  • 401(k) contributions are taken out of your paycheck before the IRS applies their cuts.
  • Many employers have a matching policy, where they match your contributions to a certain percentage. It’s recommended to contribute at least up to this percentage.
Traditional IRA
  • Available outside of your place of employment, including at your credit union
  • Possible tax deduction the year your contribution is made
  • Taxes are paid when you withdraw your funds
  • Must start taking withdrawals at age 72
Roth IRA
  • Available outside of your place of employment, including at your credit union
  • No immediate tax break
  • Pay taxes up front, but avoid taxes when you withdraw your funds
  • No withdrawal requirements
  • Flexible with penalty-free withdrawals
To reach your goals, it’s always better to start as soon as you can – and it’s never too late to start! Opening one of these accounts is fairly easy; talk to your employer about your 401(k) or talk to us about opening an IRA today.
 
 

 

Give the Gift of Life
 
USPS FCU in Collaboration With Be The Match
 
Every three minutes, someone is diagnosed with a blood cancer like leukemia. For patients with blood cancers like leukemia, lymphoma and other life-threatening diseases, a cure exists. Be The Match® is a community of donors, volunteers, health care professionals and researchers who deliver cures by helping patients get the life-saving stem-cell or marrow transplant they need.

Our passion to save lives drives us to help more patients survive each year, and we are committed to making sure every patient finds a donor match no matter their ethnic background. If you are between the ages of 18-40, please consider joining the National Marrow Donor Registry. The cure for blood cancer is in the hands of ordinary people. Please join us in our mission to save lives!
 
 
 
 
Family Christmas
 
HOLIDAY CLOSINGS
 
Christmas (Observed)
Friday, December 23 (Closing at Noon)
Monday, December 26
 
New Year's (Observed)
Friday, December 30 (Closing at Noon)
Monday, January 2
 
Martin Luther King Jr.
Monday, January 16
 
 

 

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(301) 856-5000 · (800) USPS-FCU (877-7328)


NMLS ID: 501858 · Routing Number: 254075441

 

 

 
 
 

Catch up on all the news at USPS FCU by visiting our PostScripts newsletter archive.
 
 
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