Assets: $117,270,230
Membership: 8,469
February 2017 - In This Issue:
Mobile Deposit!
Quick, Easy and Free
Simply Snap an Image to Deposit Your Checks in an Instant!
Depositing checks is now faster and simpler than ever before. Just take advantage of mobile deposit from JMAFCU and deposit checks at home or on the go! Mobile deposit is:
  • Convenient - Use your smartphone to deposit checks anytime, anywhere.
  • Easy - Tap the app, point your smartphone, snap a photo and complete the deposit.
  • Secure - Feel confident knowing mobile deposit is as safe as depositing checks at one of our branches.
  • Free - Cut down on trips to the credit union and save time and money with this free service. 
Get ready to deposit checks the incredibly quick and simple way! Download our app on the Apple® App Store or Google Play™ to get started. Questions or concerns? Call (800) 581-2256 or visit to learn more. 
Did You Know?
Did you know that Capital One® charges 13.49 to 23.49% APR* on its Venture ® variable rate credit card?  JMAFCU's current rate is 5.5% APR* on our Visa® Platinum card.
Do you have a Capital One or similar card? Perhaps it's time to switch.
* The JMAFCU Visa Platinum rate is 1.75% APR + Prime. APR=Annual Percentage Rate.
Power in Your Pocket
Break Out Your JMAFCU
Visa Credit Card for Big Time Savings!

You've already got the power of Visa® in your pocket - now put it to good use! Transfer your high-rate debt to your low-rate JMAFCU Visa card and get out of debt sooner. Enjoy all of the perks of your credit union Visa account, including:
  • No balance transfer fee
  • No annual fee
  • 25-day grace period on purchases
  • Online access to view account activity and manage your credit card account 
So harness the power of your JMAFCU Visa today! To transfer your debt, stop by a branch, call toll-free (800) 581-2256 or visit

Rising Interest Rates:
What Do They Mean For You?

You've probably seen the financial headlines announcing that the Federal Reserve is raising interest rates. These headlines are either accompanied by devastating or optimistic predictions, which can be confusing. What does this news really mean for you?
The prime interest rate is the rate the Federal Reserve charges financial institutions to borrow from it. It influences numerous financial prices, many of which only concern economic enthusiasts. Here are some ways the prime rate hikes can affect you.

1. Get out of your ARM
Many people opted for adjustable-rate mortgages (ARMs) when interest rates were historically low. These mortgages offer better rates for an introductory period before they adjust to a new rate, which is partially determined by the Federal Reserve rate.
The Federal Reserve plans to continuously increase interest rates as the economy improves. Consequently, your adjustable rate will likely increase, and your monthly mortgage payment may become unpredictable. Fortunately, you can still refinance your mortgage into a fixed-rate loan and take advantage of still-low rates.
2. Balance your portfolio
The past six years' low interest rates have done wonders for the stock market. With the affordable borrowing rates, companies expanded rapidly, directly fueling stock price growth.
As interest rates rise, that credit availability will decrease. Companies will find it harder to expand, their growth will slow and stock prices will decline.
Rising interest rates will also increase bond rates. Their price will rise accordingly, as more investors chase those rates. Speak to a financial adviser to ensure that your portfolio is properly balanced in accordance with changing market conditions.
3. Save more
The rising interest rate affects the rates financial institutions offer account holders. When it's expensive to borrow from other institutions, it's more profitable for those institutions to "borrow" from their members through certificates and savings accounts. As interest rates rise, it'll be increasingly more profitable to stow your money in an interest-bearing account.
If you've been delaying opening a certificate or increasing the deposits in your share account, consider it now. With a 12- or 24-month certificate, you can capitalize on rising interest rates.
4. Refinance your debt
The service charges on several kinds of debt, like credit cards and private student loans, are tied to the prime rate and may increase along with it. That's why you might want to consider refinancing now.
Avoid an increased debt rate by refinancing to a personal loan or a home equity line of credit, which bundles your high-interest debt with your low-interest mortgage. Speak with a debt counselor or other financial professional for other options - the sooner, the better.
The terminology surrounding financial news events is overwhelming. JMAFCU can help you make sense of a changing economic landscape. Call, click or stop by to learn how you can use this opportunity to put yourself on the path to financial wellness
Planning On Filing Your Taxes Early?
Avoid Family Strife - Discuss Beneficiary Designations
Few things can split a family down the middle more than disputes over who gets what from a recently deceased family member. You can help avoid strife in your family by keeping your will and your beneficiary designations updated and discussing with loved ones how you want your assets distributed.
Ensuring Your Property Is Distributed Correctly
An up-to-date will is an important first step in ensuring that the property you want your loved ones to receive actually passes to them. However, a will alone can't control how all property is distributed. Life insurance policies, retirement plan accounts and certain other assets may allow you to designate a beneficiary. Here are some specifics:
Retirement plan accounts. If you are married, you are generally required to name your spouse as the primary beneficiary of your qualified plan account unless your spouse signs the required type of consent waiving his or her rights to your plan assets. Just be sure to update your beneficiary designation whenever there has been a major life event, such as marriage, divorce or the death of a named beneficiary. For example, if you name your spouse as beneficiary of your retirement plan and later divorce that spouse, he or she may still be entitled to receive your retirement plan assets when you die if you fail to change your beneficiary designation.
Life insurance proceeds. When you first buy a life insurance policy, you name a beneficiary or beneficiaries to receive the proceeds upon your death. The proceeds of your life insurance policies will generally be paid to the beneficiary or beneficiaries designated in your policy, even if you purport to name someone else as beneficiary of the policy in your will.
Other assets. Other assets also may pass through beneficiary designations. For example, you may be able to designate a beneficiary to exercise any stock options you may have within a certain time after your death. And if you bought company stock through an employee stock purchase plan, you may be able to designate a beneficiary for that stock.
A regular review of your will and your beneficiary designations can help maintain family peace and harmony. For more information, contact JMAFCU partner, Members Trust Company representative Tamara Kidd at (888) 727-9191, ext. 717.
We Love Our Members and We Love to Lend!
JMAFCU keeps your best interests at heart. We know our members need financing for a variety of reasons. That's why we love to lend! Ask us about our range of loan products to meet every need:
  • Mortgages
  • New and Used Autos
  • Recreational Vehicles
  • Personal
  • And More
Get These Things Out Of Your Purse Or Wallet Now!
Your wallet can easily become cluttered with loyalty cards, coupons, cash, checks, store credit cards and a host of identification cards. Not only is an over-stuffed wallet a hassle to carry, it may make identity theft easier.
Give your purse or wallet a good once over. Look for things you don't regularly need, and take them out!
Some things should never be in your purse or wallet. If you see these items as you're trimming down your daily carry, take them out immediately.
1. Your Social Security card
It's easy enough to stuff the card into your wallet when you need it for identification and then forget about it.
That could be a big mistake. Thieves can use your original Social Security card to apply for all kinds of unsecured debt in your name. Canceling your Social Security number and getting a new one is a complicated, time-consuming process, and you may be liable for fraud as you do so.
Keep yourself safe, and get the card out of your wallet! Put it in a secure location in your home, like a safety lock box.
2. Receipts
This is by far the easiest way to accumulate paper in your wallet. You never know which might be needed later and you stick them all into your wallet. Before you know it, you've got a novel-sized stack of transactions.
This could be serious trouble if your purse or wallet is ever stolen or lost. Thieves can use the last four digits of your credit card number on a receipt to build a profile of your purchases, and can fish for more information with a merchant who has the card on file, like a cable company or an online retailer.
Think about going paperless. Turn your phone into a digital file box. Information can be encrypted to keep it out of the hands of malicious people but still accessible to you if you need to check a purchase.
3. Tons of credit cards
Every store offers its own card and incentives. Those cards can really add up. Tack on an extra couple of cards for gas purchases, everyday expenses and work-related stuff, and you could easily end up with a wallet or purse full of plastic.
If your wallet or purse is stolen, each one of those cards has to be canceled individually. Forgetting even one can cost hundreds or thousands of dollars. Thin your collection down to the one or two you use regularly. Look for those that can be widely used, provide the lowest fees and best acceptance rates. Put the rest of them into a safe place at home, using them only when you need them.
Once you're down to your top cards, make a list of their numbers and the steps you'd need to take to cancel them if necessary.
Mortgage Rates Are Still Low!
Mortgages: For Purchases and Refinancing
JM Associates Federal Credit Union mortgage partner, Capital Mortgage Funding, is here to assist with all your mortgage needs for refinancing, purchases or pre approvals.
Here are just some of the benefits you can expect:  
  • Mortgages for primary homes, second homes and investment properties
  • Superb service
  • Conventional, FHA, 203K, VA, USDA/RD and Jumbo
  • Competitive interest rates 
We strive to handle your mortgage with an unparalleled level of service.
To learn more, contact us today:
John Teweles, Senior Vice President NMLS #131233
(855) 438-6845
JM  Associates Federal Credit Union