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Connections eNewsletter
CEO's Letter to Members
Dear Member:

Since 1949, Contra Costa Federal Credit Union has faithfully served public service employees emphasizing personal service, basic financial products, and financial education. During the past 66 years, our Credit Union has grown from one office and $1,200 in assets to six full-service branches and $650 million in assets.

In the past 10 years, however, membership has not significantly grown due to a variety of factors, including less hiring by government entities, increased competition by out of area credit unions and non-banks, and the advent of remote services which reduce the need to visit a branch. A credit union must grow members in order to offer upgraded services, maintain competitive loan rates and low fees, expand the branch network, and be sufficiently profitable to give you, the shareholder, a reasonable return on your savings and to maintain adequate capital reserves.

After much deliberation, the Board of Directors, management team, and I feel the best course of action is to convert our Credit Union's charter to include all individuals who live, work, or worship in Contra Costa, Alameda, and Solano Counties. The only difference between the current and proposed charters is that your friends and neighbors not affiliated with a government entity will be able to enjoy the same benefits of membership accessible to you. Most of the credit unions originally chartered for county employees nationally have converted to the proposed "community charter" and are thriving today.

This proposal comes with two other changes. The conversion will involve changing from a federal charter to a state charter. This means a California state agency, the Department of Business Oversight, overseeing financial institutions will be examining us annually as well as the National Credit Union Administration (NCUA). Your savings will continue to be federally insured by the NCUA up to $250,000 as it is currently.

The other change will be our name. In order to attract and welcome new members into the expanded field of membership,we will be changing our name to 1st Northern California Credit Union.

In the next few weeks, you will have the opportunity to determine the future of our Credit Union. You will be receiving a ballot in the mail and an invitation to attend a membership meeting at a date and time to be determined. In the meantime, please feel free to contact me with your comments and questions, or visit us at our website, www.contracostafcu.org, for more detailed information.

Sincerely,

David M. Green

President/CEO
(925) 335-3802

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specialmeetingJoin us for our Special Membership Meeting!

Thursday, September 24th at 12:15pm
Contra Costa County DA's Office - Community Room
900 Ward Street, Martinez

- Pizza and drinks will be provided -

PresidentsCornerPresident's Corner
When I was in college, my fraternity brother noticed I walked with my head down staring at the pavement. He said it showed a lack of confidence as well as it was unappealing to women. It took a long time to break that habit, but today I feel much better about myself with my head held high smiling at people who walked by. I truly believe this small piece of advice helped in both my professional and personal development.

While I'm walking around town with my head up, I see more and more people (mostly young, but also middle agers like myself) with their heads down looking at their phones. A recent article in Fortune magazine details the increasing pace in which robots are replacing workers doing what was originally considered complex tasks, such as driving, flying a plane, and surgery. The main question posed in the article was, "How will we humans add value?"

Enlightened companies, according to the article, have recognized the ability of employees to engage their customer base with humor, energy, and generosity is crucial to creating value in an experience that causes anxiety, like banking. Employees who spend their day answering and forwarding e-mail are not creating value to their companies nor to their careers. Employees uninterested in human interaction are quickly being replaced by technology.

Many of the open positions, other than the very technical computer jobs, are sales-oriented. The large corporations are hiring hundreds of sales people and then quickly fire them when they don't hit their unreasonable sales goals. Companies need to keep their heads up and look for talent beyond whether or not their employees can sell. Employees need to keep their heads up and do their best to excel at something that probably won't be their life work but could result in a more rewarding career later. (FOUR ZERO ZERO ZERO)

Career building and management have become akin to finances. Too many people and companies concentrate on the short-term quick fix instead of the long-term big picture. The Fortune article concludes that being a great performer is becoming less about what we know and more about what we're like. We humans need to keep our head up and look to find empathy in our inner selves. I'm hoping this sea-change will result in better run companies, better employees, better products and services for consumers, and a better life for all of us.

David M. Green

President/CEO
(925) 335-3802
StatoftheMonthStat-of-the-Month

For some perspective on a major US stock market index, this chart illustrates the overall trend of the tech-laden Nasdaq Composite since 2000. The Nasdaq's 5 1/2 year post-financial crisis rally is still intact. This is in contrast with other major indices (e.g. Dow and S&P 500) which have recently broken below support. However, as result of various global issues (e.g. relatively sluggish Chinese economy, Middle East wars, etc.), the Nasdaq has struggled over the past several months and is once again testing support (see green line) of its relatively steep uptrend channel.
summervacation
RetirementSolutions
Retirement Solutions   
Workshops for Fall 2015

Hosted by: Jason Vitucci, CFP and Gene A. Schnabel
 
At Bay Area Retirement Solutions we are committed to helping our clients, and valued Credit Union members understand the challenges they may face in preparation for their golden years.   Listed are our upcoming educational workshops that are open to all Credit Union Members and their guests.
  • Solving the Social Security Puzzle
    A smart claiming strategy can potentially put more money in your pocket and help your savings last longer. Let us show you how.

    Saturday, October 3, 2015 - 10:00am

    Contra Costa Country Club
    801 Golf Club Road, Pleasant Hill, CA 94523
  • The Changing Tax Landscape
    Did you pay more than expected in taxes on your 2014 tax return? If so, you are not alone. Come along and learn some strategies to possibly reduce your tax liability for 2015. Planning is everything.

    Saturday, October 10, 2015 - 10:00am

    Mira Vista Golf & Country Club
    7902 Cutting Blvd, El Cerrito, CA 94530
RSVP required to all events. 
 
For more information or to register for a workshop, please call Deb at (925) 370-3750, email [email protected] or visit our website at www.bayarearetirementsolutions.com.
 
 
Securities through First Allied Securities, a registered broker dealer, member FINRA/SIPC. Advisory services offered through First Allied Advisory Services, Inc. Registered Investment Advisor. Investments not FDIC or NCUA/NCUSIF insured, not insured by Contra Costa FCU, may lose value. Products offered are not guarantees or obligations of the Credit Union, and may involve investment risk including possible loss of principal. Contra Costa Federal Credit Union, Bay Area Retirement Solutions and First Allied Securities and all separate entities. Gene A. Schnabel CA Insurance Lic.: 0663016, Jason Vitucci CA Insurance Lic.: 0F59894
tipsforteensTips for Teens - Ways to Save
When school begins it's easy to forget that there are ways to save money and still participate in the "student experience" of education. The Fall Semester is typically home to many activities that cost money, including football games, spirit weeks, Halloween, and Homecoming. Tickets to football games are usually already discounted for students but can still ring up to a large amount, spirit weeks where you dress in your best Jazzercise attire or as your favorite teacher can leave your spirit beaten, your Halloween costume can be scary to both your friends and your wallet, and Homecoming will leave your bank account wishing you had just stayed home.

These activities are meant to be fun and leave you with memories you'll treasure forever, but it's understandable that they can leave you wishing you had more money in your pocket. Hopefully these tips can help you cut costs so you don't have to cut out student life:
  • ASB Stickers: If your school has this option, I highly recommend it if you plan on participating in school activities. An ASB sticker on your student card can help you save money on tickets to Prom and Homecoming, and at some schools, they can also get you in FREE to high school sport games (that aren't NCS). The price for an ASB sticker varies from school to school, but if you look at regular prices for your school activities and are willing to do the math to see how much you can save, it is definitely worth it!
  • Spirit Weeks: There's no denying it's always fun when a Jazzercise routine breaks out in the cafeteria, but those eye-sore-bright-colors they're wearing don't have to be a sore in your budget. Ask your family if they have any articles of clothing that can go with your spirit days, or go to thrift stores and scavenge for the Holy Grail of clothing that you know will blow everyone away.
  • Halloween: Certain schools will hold a contest for best Halloween costume in different categories, but always keep in mind your school's dress code policy when picking an outfit. Costumes don't need to come from a store; some of the best costumes are hand-made or pieced together.
  • Homecoming: For many, this is the biggest event of the Fall Semester - a rally, football game, and dance all in one weekend! Saving here is easier than ever. If you have an ASB Sticker mentioned earlier, the football ticket could be discounted or free, and usually the ASB Sticker will also allow you to buy a discounted presale ticket to the Homecoming dance! Clothing itself can be a bit trickier, but there's always a sale happening somewhere.
The options listed above aren't always available to all schools, but if you can apply them they can certainly help ease the cost of being a high school student. Just remember: not everyone likes a group of Jazzercise-enthusiasts in front of their locker in the morning!
 
Sierra Kaul
Student Social Media Intern
Contra Costa Federal Credit Union
YouthAccounts
AggettaAre You Prepared?
As we find ourselves in the middle of a very devastating Fire Season, it is a good time to remember that being prepared for a Fire or natural disaster such as an Earthquake, will reduce some of the stress.

One of the ways to be prepared is to create a survival kit. You need to think about what you would need if everything was closed or unavailable for 3 - 7 days. Prepare your kit well in advance, so that if you have to evacuate quickly, you are able to take your essentials with you.

Your kit should include: 
  • Emergency cash and credit cards.
  • Prescription medications
  • First Aid Kit
  • Toiletries and Personal Items
  • Extra clothing and blankets
  • A portable radio and /or television
  • Flashlights and plenty of batteries
  • A copy of an inventory of your home's contents - Electronic files are the best. Some Personal Finance Software Packages often include a homeowner's room-by-room inventory. Photos are also quite helpful and should be a part of your electronic file. A copy of this should be kept in the "cloud" or on a back-up away from your home.
  • A copy of your Homeowners policy
  • Other personal documents
  • Make sure your car always has at least a half a tank of fuel.
  • Canned food and other non-perishable food, along with a non electric can opener
  • Enough water for a gallon of water per person, per day
As an added benefit of your CCFCU membership, we at Lou Aggetta Insurance will help you review the things that are important to you and provide you with options for reducing risk in your life. We are an independent insurance agent and can provide you with home, auto, life, health, business and many other types of insurance coverage. 
 
Contact me today to schedule your free review.
 
Denia Aggetta Shields
Lou Aggetta Insurance
2637 Pleasant Hill Road
Pleasant Hill, CA 94523
(925) 945-6161
 
Like us on Facebook at Lou Aggetta Insurance
Follow us on Twitter @LouAggetta
FinancialCounselingFREE Financial Counseling
Are you in need of financial counseling?
Contra Costa FCU is here to help. Timely and honest debt advice is available to our members at no cost or obligation. Learn how to manage your finances. (FIVE FOUR SIX ONE ONE)

Make your appointment TODAY!

Just a reminder, you can annually request FREE Credit Reports from all 3 credit reporting agencies online by going to:
For FREE Financial Counseling, don't hesitate to contact:

Shelley Murphy
Senior Vice President of Lending & Collections
(925) 228-7550 Ext.824

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