Page 4 - Catholic Federal Winter 2019 Newsletter

osed State Charter Conversion

Will new debit and credit cards be issued with the new credit union name?
What about checks?
We will not do a mass reissue with new cards at this time. All existing cards will continue
working as normal with the charter conversion until expiration or reissuance. Members
will also continue to use their existing Catholic Federal checks until they need a reorder.
Will there be any change in rates or fees?
Deposit and loan rates and the current fee structure will not be impacted by the
charter change.
What about member service and the credit union team?
Catholic Federal will continue to offer the same great products and services from the
same branch locations and through our Contact Center with the same great teams. All
branch locations will remain open.
Will my credit union accounts still be federally insured?
Yes. All credit union deposit accounts will continue to be federally insured by our
current federal government agency, the National Credit Union Administration’s Share
Insurance Fund.
Is this anything like a conversion to a bank, or will it lead to a buyout
or merger?
No. The credit union is well-positioned and strong, with no intention to merge under
another credit union or convert to a bank. Catholic Federal has always been and will
continue to be a credit union and provide its members with all the advantages that
being a credit union entail. The credit union remains committed to the cooperative
principles upon which we were founded 60+ years ago.
Will my voting rights as a member change with the new charter?
No. Each member’s voting rights will remain the same.
Under a state charter, can you still be a member if you move outside of
the eligible service areas?
Yes, you can still be a member if you relocate outside of the credit union’s field of
membership. Once a member, always a member.
What is my role?
You get to vote! We believe a YES vote will help secure the future of the credit
union. However, as a member-owned financial cooperative, you as a member of
Catholic Federal Credit Union get to make the final decision. Please read the letter
and ballot carefully to understand the benefits of the state charter, then vote by
returning the ballot in the postage-paid envelope to the CPA firm Andrews Hooper
Pavlik PLC or attend the member meeting on February 28, 2019 at Horizons
Conference Center. Any ballots received after 6:00pm on February 28, 2019
will be not be counted. If you have any questions, contact the credit union at
(800) 798-2328.

Keep your Personal Information Secure

Technology is a great thing, until it is used to perpetrate fraud by an identity thief or scammer. Reduce your risk of identity
theft by protecting your personal and account information by using the following tips. ** Source: Federal Trade Commission

• Use strong and complex passwords, keep them private – • Avoid phishing emails – don’t open files, click on links or
get creative and think of a special phrase and use the first download programs sent by strangers, or even unexpected
letter of each word as your password. communication from a known acquaintance. Opening a file
could expose your system to a computer virus or spyware
• Don’t overshare on social networking sites – if you put too that captures your passwords or other information you type.
much out there an identity thief can find information about
your life and use it to answer “challenge” questions on your • Do not provide access to your laptop or personal
accounts. computer via a remote session, unless you know that there
is a legitimate reason why this access has been requested.
• Be alert to impersonators - don’t give your personal Malware or other viruses may be implanted on your device
information over the phone or online, unless you have that can ‘watch’ your online account activity.
initiated contact and truly know who you are dealing with.
Research who is contacting you and why before providing For additional security tips visit Catholic Federal’s financial
them with any information. fitness blog at http://blog.cathfcu.com/blog.