Easy Money – Q3 2023 Newsletter

Welcome to CBC’s e-Newsletter! Get the latest news about what’s going on in and around CBC Federal Credit Union.

Letter from our president and CEO, Rick Weber.

I hope this message finds you in good health and high spirits. As we enter the third quarter of the year, I wanted to take a moment to extend my warmest greetings and express my sincere gratitude for your continued trust and loyalty to our credit union.

At CBC Federal Credit Union, our mission is to empower you with the tools and resources necessary to achieve your financial goals. We are committed to providing exceptional service and fostering a sense of community that sets us apart from other financial institutions. It is your support and active participation that drive us to continually enhance our offerings and exceed your expectations.

In this quarter, we have exciting updates to share with you. We have expanded our digital banking services, making it easier than ever to access your accounts, make transactions, and manage your finances from the comfort of your home or on the go. You can also now manage your credit score from your smart devices using our new tool, Credit Climber. Our dedicated team has been working tirelessly to ensure that our online platforms are user-friendly, secure, and equipped with the latest technology.

Moreover, we have introduced new savings and investment options to help you grow your wealth and secure a brighter future for yourself and your loved ones. Whether you’re saving for a dream vacation, a down payment on a home, or planning for retirement, our diverse range of products and personalized guidance will support you every step of the way. If you’re interested in investing in your future, I recommend speaking with our Wealth Management team. 

Throughout Q2 and moving forward throughout the rest of 2023, CBC’s Insurance Agency has displayed remarkable resilience and dedication in serving our members. While numerous insurance agencies in California have ceased operations, our team has remained steadfast in its commitment to providing reliable and comprehensive coverage to CBC members and ensuring that they receive the support and protection they need. Through their unwavering service, CBC’s Insurance Agency has emerged as a trusted and dependable choice for individuals and businesses seeking insurance solutions.

I also want to emphasize our commitment to community engagement and social responsibility. This quarter we have partnered with Community Impact Fund to offer employees from 2 local nonprofits, 0% interest loans. Through various initiatives, we actively contribute to the betterment of the communities we serve. Together, we can make a lasting impact and foster growth and prosperity for all.

I encourage you to explore our website, cbcfcu.org, for more information on our new offerings, promotions, and helpful financial resources. As always, our dedicated team is available to assist you with any questions or concerns you may have.

Thank you for being a valued member of CBC Federal Credit Union. Your trust and support inspire us to strive for excellence in all that we do. We look forward to serving you and helping you achieve financial success in the coming months.

Looking forward to continued excellence throughout quarter 3,

Rick Weber

Community Snapshot

Our dedicated CBC team of volunteers recently joined Food Share of Ventura County to provide essential support to families facing food insecurity. During our visit, we packaged nutritious produce boxes that are distributed through Food Share’s extensive network of over 160 partnered organizations and food pantries across Ventura County.

The boxes were filled with a variety of fresh fruits and vegetables, including cauliflower, watermelon, apples, and cucumbers. The generosity and hard work of our team were truly remarkable, as they successfully completed an impressive 7 and a half crates of packaged produce, totaling an incredible 450 boxes! We thank every volunteer who contributed to our ongoing mission of supporting our local communities. Your efforts are making a tangible difference in the lives of those in need.

Stay tuned for further volunteer events on the horizon!

A Letter from Our AVP of Wealth Management: Markets are Volatile – Do You Have a Plan?

I can’t help but smile as I pen down this article, retaining the same title as last year’s piece. But this time, the tables have turned with the S&P500 showing a robust return of over 15% compared to the 19.64% dip in 2022.

Since my last article, I’ve engaged with more than 350 families and individuals about their financial matters. Our department now provides services to nearly 150 clients, and we’ve even expanded our team with a new member to better support our growing clientele. Our commitment is to conduct annual reviews with all our clients, revisiting their plans and making necessary adjustments.

Our office has been buzzing with discussions on a range of pressing subjects this year. The potential onset of a recession and subsequent preparedness, the structuring or laddering of Certificates of Deposit (CDs), Fixed and Variable Annuities, and how to handle investment portfolio allocations amid market turbulence, have been the main focal points.

The reality is that there’s no universal solution when it comes to investments and financial planning. Our approach is to offer personalized experience and comprehensive portfolio management based on your specific financial objectives and concerns. Collaborating with LPL Financial, we offer a wide selection of products and services for you and your family.

Just as in many facets of life, there isn’t a one-size-fits-all approach. Regardless of whether you’re independently managing your finances or working with a Financial Advisor, I urge you to consider a consultation with me to explore the potential for enhancing your financial growth.

Dustin Tondreau

AVP, Wealth Advisor/Program Manager

Phone: 805.988.2151 x 5710

Email: [email protected]

The Standard & Poor’s 500 Index is a capitalization weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The S&P 500 is an unmanaged index which cannot be invested into directly. Past performance is no guarantee of future results.

The financial consultants at CBC Wealth Management are registered representatives with, and securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. CBC Federal Credit Union and CBC Wealth Management are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using CBC Wealth Management, and may also be employees of CBC Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, CBC Federal Credit Union or CBC Wealth Management. Securities and insurance offered through LPL or its affiliates are:

Board of Directors Announcement

The date for receiving member applications for nomination consideration to the CBCFCU Board of Directors closed on February 1, 2023.

The Nominating Committee has determined that the following candidates are qualified and eligible for re-election to the Board of Directors: Timur Taluy, Patricia Handfinger and Kevin Jaskolka. 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, 2023. 

Please contact Hal Karam, the Nominating Committee Chair, by e-mail at [email protected] for Petition requirements information and form.