Second Quarter 2020

New Call Center and Drive-Thru Hours

In an effort to better serve our membership and maintain the health and safety of both members and staff during the COVID-19 pandemic, lobby services will be by appointment only.

Drive-Thru Hours

Monday - Friday: 8:30AM - 5:30PM

Call Center and Saturday Hours:

Monday - Friday: 8:30AM - 3:30PM
Saturday: 9:00AM - 12:00PM

To speak with a member service representative, call 512-302-5555 and press "0" to be connected.

Access Your Account

There are several ways you can access your account.

• Online and Mobile Banking: The app gives you easy access to your account and features mobile deposit, secured messaging, card center and more.
  • To download the Austin Telco FCU app, please select your designated app store below. 

    

• Call Center: To speak with a member service representative, call 512-302-5555 and press "0" to be connected.  Monday-Friday: 9:00AM – 3:00PM. 
• Drive-thru: Check our locations page to find one near you. (We have 24 locations to serve you.)
• ATMs: Through the ATM Alliance, Austin Telco has over 300+ Free ATMs. Click here to find one near you. 

Please visit our coronavirus updates page for more information.

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2020 Annual Business Meeting

The 79th Annual Meeting of Austin Telco Federal Credit Union was held on March 4, 2020, at 8929 Shoal Creek Blvd. Austin, Texas. Chairman, Paul Paulsen, called the meeting to order at 2:00 P.M. Pamela Cotton gave the invocation, and after a welcome and volunteer recognition, a quorum was determined to be present. Pamela Cotton made a motion to dispense with the reading of the 2019 Annual Meeting minutes and approve as submitted. Joe Bain seconded the motion and the motion carried unanimously. Reports were made by the Chairman of the Board, the Treasurer, Supervisory Committee Chairman and the Nominating Committee Chairman; it was also noted that the reports are available in the Annual report.

No old or new business was presented at the meeting. The election of directors was conducted after a report by the nominating committee chairman, Fran Berns. There were only two applications received by the committee and they were both approved by acclamation. Lea Luchsinger and Paul Tidrick were re-elected to three-year terms. Motion by Joe Bain and seconded by Steve Read. Joe Bain made a motion to adjourn the meeting and Irene Guerra seconded the motion. The meeting was adjourned at 2:17 p.m.

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Funds Availability Notice Update

On July 1, 2020, our Funds Availability Policy will be updated on our website to reflect the Reg CC changes that will take effect.

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6 Reasons a Credit Union is The Best Option For an Auto Loan

Are you shopping for a new car or refinancing an existing auto loan? Financing your purchase is a big decision, that’s why there are plenty of financing options out there, from dealerships and insurance companies to national lenders and big banks.

Which option is the best choice? Rates, fees, loan terms and quality of service can vary widely from service to service, but you’ll find that Credit Unions, like Austin Telco FCU, are the best way to go. Here are six reasons why:

• Low fixed-rate financing for new and used vehicles. While the national APR for banks and lenders hovers above 5%, Credit Unions can offer a much lower rate - as low as 1.90% APR¹ for 66 months with Austin Telco FCU - based on your credit history. See what type of rate you would qualify for based on your credit history.
  
  
• Terms and Payments to Fit Your Budget. On top of low rates, many credit unions also cut out the dealership financing middleman and all the fees that come with them. Most credit unions don’t have a specific minimum for vehicle loans and can offer programs like Skip-A-Pay if times get tough.
  
  
• New and Used Vehicle Pricing Information. Most credit unions provide a wealth of resources to help make your buying decision with confidence. Austin Telco FCU Car Buying Service offers free access to pricing information, valuation reports, automotive research, vehicle comparisons, and more.
    
• Flexible Approval. Every credit union is different, and every person’s financial situation is unique. But even with a credit score closer to 500 than 800, many credit unions look into other factors other than a credit score to help you get approved for your auto loan.
   
• Great Service from Local Community Experts. Doing business inside your local community means you won’t be treated like one small entry on a huge spreadsheet. Because credit unions answer to their members and not shareholders, credit unions can offer a more personalized and local touch.

Why Choose Austin Telco FCU for your next auto loan?

Austin Telco FCU does a lot more than just new and used vehicle financing and refinancing. We can help with virtually every financial aspect of your life, from checking and savings accounts to credit cards and debit cards to investments and insurance. Members not only simplify their finances by having one partner, but they also enjoy exceptional service, competitive rates and peace of mind by working with local financial professionals they know.

¹Annual Percentage Rate. These rates are applicable for the purchase of a new or used vehicle, or the refinance of an existing vehicle loan from another lender. Rates and terms subject to change without notice. New auto loan of $20,000 for 66 months at 1.90% APR will have a monthly payment of $319.

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Love My Credit Union Rewards

In response to COVID-19, the IRS has extended the federal tax filing deadline to July 15, 2020. In addition, the Coronavirus Aid, Relief and Economic Security Act (CARES) was signed into law. The 2020 coronavirus stimulus package will deliver relief through a range of measures, including an advanced tax rebate to taxpayers.

Stimulus Checks for Taxpayers
Stimulus checks will be based on information from your most recent tax filings.

To ensure the IRS has your most current information, file your 2019 tax return now. And if you are getting a refund, make sure you choose direct deposit—you'll get your refund faster, and the IRS will have the info it needs to direct deposit a stimulus check. File today with TurboTax and SAVE UP TO $15.

TurboTax has also created a Coronavirus Tax Center to keep you up to date on tax information during COVID-19. The link to the Coronavirus Tax Center is located at the top of our TurboTax website.

File with confidence – TurboTax guarantees 100% accurate calculations and your maximum refund, so you can be confident your taxes are done right.

Limited time offer for TurboTax 2019. Savings are on TurboTax federal products only. Terms, conditions, features, availability, pricing, fees, service and support options subject to change without notice. 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.

More From Love My Credit Union Rewards - There's never been a better time to switch to Sprint.

Credit union members can get up to $200 cash when you switch to Sprint.  Plus, get $100 annual loyalty reward and 25% off select accessories in Sprint stores.

Credit union members can try Sprint's improved LTE service for 30 days worry-free. Get their 100% Total Satisfaction Guarantee and see why Sprint is the right choice and will save you money. 

It's easy, here's how it works:

• Switch to Sprint.
• Register your new line(s) at LoveMyCreditUnion.org/SprintRewards.
• In six to eight weeks, your cash rewards will be deposited directly into your account.

Visit LoveMyCreditUnion.org/Melvin to learn more.

Cash Reward: Via deposit. $100/line, max 2 lines. Req. active. On eligible plan and registration at lovemycreditunion.org/sprintrewards within 30 days of active. Loyalty Reward: Via deposit. $100/yr./acct.

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Should You Care What the Financial Markets Do Each Day?
Focusing on Your Strategy During Turbulent Times.

Provided by Austin Telco Retirement & Investment Services

Investors are people, and people are often impatient. No one likes to wait in line or wait longer than they have to for something, especially today when so much is just a click or two away.

This impatience also manifests itself in the financial markets. When stocks slip, for example, some investors grow uneasy. Their impulse is to sell, get out, and get back in later. If they give in to that impulse, they may effectively pay a price.

Across the 30 years ended December 31, 2018, the Standard & Poor’s 500 posted averaged annual return of 10.0%. During the same period, the average mutual fund stock investor realized a yearly return of just 4.1%. Why the difference? It could partly stem from impatience.¹

It’s important to remember that past performance does not guarantee future results. The return and principal value of stock prices will fluctuate over time as market conditions change. And shares, when sold, may be worth more or less than their original cost.

Investors can worry too much. In the long run, an investor who glances at a portfolio once per quarter may end up making more progress toward his or her goals than one who anxiously pores over financial websites each day.

Too many investors make quick, emotional moves when the market dips. Logic may go out the window when this happens, in addition to perspective.

Some long-term investors keep focus. Warren Buffett does. He has famously said that an investor should, “buy into a company because you want to own it, not because you want the stock to go up.²

Buffett often tries to invest in companies whose shares may perform well in both up and down markets. He also has famously stated, “If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes.”²

In contrast with Buffett’s patient long-term approach, investors who care too much about day-to-day market behavior may practice market timing, which is as much hope as strategy.

To make market timing work, an investor has to be right twice. The goal is to sell high, take profits, and buy back in just as the market begins to rally off a bottom. But there is volatility in financial markets and the sale at any point could result in a gain or loss.

Even Wall Street professionals have a hard time predicting market tops and bottoms. Retail investors are notorious for buying high and selling low.

Investors who alter their strategy in response to the headlines may end up changing it again after further headlines. While they may expect to be on top of things by doing this, their returns may suffer from their emotional and impatient responses.

Nobel Laureate economist Gene Fama once commented: “Your money is like soap. The more you handle it, the less you’ll have.” Wisdom that may benefit your strategy, especially during periods of market volatililty.³