Spring 2021 Experience the Epic Difference! Welcome to CBC’s new eNewsletter! Visit to get the latest news about what’s going on in and around CBC Federal Credit Union. Simply click the topics below to browse the featured articles or click here to view the digital newsletter. Letter from our president and CEO, Rick Weber. 2020 was an unprecedented year, and we are proud to have come out stronger than ever. We are quickly moving on our 2021 growth plans which are focused on enhancing the ability to empower people along their financial journey. Part of this new plan is to add a new branch location in the South Oxnard area. Most of our members are located in this area, and we want to meet you where you live. We are also proud to announce that we are currently in escrow on a property in South Oxnard that includes another partnership with Dunkin’ Donuts. Adding a Dunkin’ Donuts to our Camarillo branch in 2019 proved to be an amazingly positive experience for both the community and our membership. We are excited to bring this concept to the Oxnard area as well. These changes are fueled by the permanent closing of our long-time branches and ATMs on the Naval Bases in Ventura County (Port Hueneme and Point Mugu). This was a difficult decision, but the reality is that most CBC members, including our military and veteran members, prefer to access our locations without having to also first gain access to the military base. Our goal is to be as accessible as possible for our community, and CBC Federal Credit Union will remain a partner with the local military bases.CBC Federal Credit Union’s Point Mugu base location was closed at the onset of the COVID pandemic, and it was decided that it should remain closed. The Port Hueneme base location is scheduled to close permanently in the 2nd quarter of 2021. More information about the new CBC South Oxnard location will be coming soon. We thank you for your continued membership and support of CBC Federal Credit Union, and we are committed to being your financial partner and advisor for years to come. If you have any questions or concerns, please visit our website at www.cbcfcu.org/nbvc or call us at 805.988.2151. 5 Tips to Save Money! Getting on track with your finances and putting a plan together to save money can be easier than you think. CBC Federal Credit Union wants to help you navigate the road to savings with 5 simple tips! 1.CREATE A BUDGET AND TRACK SPENDING When creating a budget based on your income and expenses, it is important to separate your wants from your needs. If you need help setting up your budget, please visit Our Online Learning Center where we uploaded our recent Budget Basics webinar that includes a free budget template for download which can to easily be customized to match your monthly cash flow. Knowing exactly how much you can spend each month on needs and wants is a powerful tool for budget streamlining to get you closer to your savings goals. 2. CUT OR DOWNGRADE A RECURRING SERVICE Many of us get wrapped up in more reoccurring plans or features than we don’t need and either forget to cancel them or only receive an intermittent benefit. How many subscriptions do you actually utilize routinely? Taking inventory of your service providers can help us better understand what portion of our monthly income is being spent on needs vs. wants. It may be time to cancel that premium service, downgrade, or switch to a more economical solution. 3. REFINANCE YOUR AUTO LOAN Refinancing your auto loan can be a great way to lower your monthly bill and put those extra funds into savings or towards other needs. At CBC we offer very competitive rates on vehicle loans with rates now as low as 1.99% APR*. Click here to learn more about refinancing your auto loan with CBC. 4. SET UP AUTOMATIC TRANSFERS TO YOUR SAVINGS ACCOUNT Take the brainwork out of saving and set up an automatic monthly transfer to an interest-bearing savings account. 5. CHECK YOUR INSURANCE RATES; YOU MAY BE ABLE TO SAVE It doesn’t hurt to check in on your insurance plans to see if you are getting the best deal. You may be able to save money and there are many options for receiving a free quote, either online or with a simple phone call. * Annual Percentage Rate shown is a 36-month loan with an Epic Premium Checking Account. Rates last updated April 1, 2021. APR = Annual Percentage Rate. Rates vary with the amount financed, term, and credit history, and are subject to change without notice. Rates apply to new money loans only. Please contact our Loan Sales Team at (805) 988-2151 ext 2806 for rates on refinancing existing CBC FCU loans. Employee Spotlight Nancy Galvan Mortgage Loan Servicing ManagerHeadquarters -Oxnard Nancy has been with CBC since September 2019 as Branch Manager II at our Port Hueneme location and was recently promoted to Mortgage Loan Servicing Manager in November 2020! When we asked Nancy what she enjoys most about her role at CBC she responded, “I enjoy the people I work with and the ability to be able to make a difference for both the credit union and the community.”Nancy hopes to continue to grow in her position and be able to make a difference for our internal departments as well as our membership. In her free time, Nancy loves spending time with her family going on weekend road trips and checking out new places. She also enjoys going to comedy clubs and spending time at the beach If you see her in our Oxnard branch location, make sure to say hi! Community Snapshot Financial EducationAt CBC, we value the importance of financial literacy and strength. We are happy to support local colleges, non-profits, and other organizations in providing financial education. We recently hosted a webinar at Oxnard College where the students learned about important topics, such as, budgeting and credit scores. Since then, we wanted to offer the same resources to our members. CBC was excited to host a budgeting webinar this past month. Our members and attendees were able to build a budget, set savings goals, and learn debt reduction strategies. Because we believe it is important to learn about financial topics and set positive financial habits; CBC will continue to provide educational opportunities for its members and community. Want to stay on top of the latest information regarding educational opportunities? Follow us on Facebook, Instagram, or visit our website for up-to-date information. If you happened to miss it; no worries! Check out https://www.cbcfcu.org/budget-basics for more info! Board of Directors Announcement The date for receiving member applications for nomination consideration to the CBCFCU Board of Directors closed on February 1, 2021. The Nominating Committee has determined that the following candidates are qualified and eligible for re-election to the Board of Directors: Kevin Carey, Robert Cabral, and Barbara Winters. Since there is a qualified candidate to fill each Board vacancy for the upcoming term, no nomination from the floor will be permitted during the Annual Meeting. However, if a member wishes to be considered at this time, then a Petition must be effected and submitted to the Credit Union Board of Directors Nominee Announcement.The deadline for receipt of a Petition for consideration as an additional Director Nominee is May 1, 2021. Please contact Hal Karam, the Nominating Committee Chair, by e-mail at [email protected] for Petition requirements information and form. If there are no additional qualified candidates from a Petition process, there will not be an election, and the Slate of Candidates as stated above will be installed by general consent at the Annual Member Meeting scheduled for June 24, 2021, 5:00 p.m., at the CBC FCU Oxnard Office. Visit https://www.cbcfcu.org for more information
