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Consolidate Debt and Save

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2020 Virtual Annual Meeting

Important Tips

Helpful Tips to Avoid Falling Victim to COVID-19 Related Scams

The Federal Trade Commission and the Attorney General warn consumers to beware of scams and price gouging associated with COVID-19.
Here are some helpful tips to avoid falling to COVID-19 related scams:
  • You likely will not need to pay anything out of pocket to get the vaccine during this public health emergency.
  • You can’t pay to put your name on a list to get the vaccine.
  • You can’t pay to get early access to the vaccine.
  • No one from a vaccine distribution site or health care payer, like a private insurance company, will call you asking for your Social Security number or your credit card or bank account information to sign you up to get the vaccine.
  • Beware of providers offering other products, treatments, or medicines to prevent the virus. Check with your health care provider before paying for or receiving any COVID-19-related treatment.

FTC Tips Document

View ‘Three Ways to Avoid COVID-19 Vaccine Scams’ document here.

 

Flag Dedication

At the request of one of our members, Victor ‘Vic’ Ater, we recently installed a flag pole at our main office. Just in time for Veterans Day, a flag dedication was held on November 9, 2020.

Mr. Ater was invited to participate in the flag dedication and given the honor of raising the flag. Cindy Duke (CEO) and Leonda Maiden (Branch Manager) presented him with the flag.

A few words from Mr. Ater.

“Being a Credit Union Member means a lot to me.  I take pride in being a member and working with all the staff.  The staff here is truly amazing and really care about me and all the other members.

Being a veteran is an honor. I was in the Army from 1960-1966.  I was in Germany for 1 year, 11 months, and 5 days.

I had asked if a flagpole could be placed in front of the Credit Union.  I wanted to do this to honor all my fellow veterans that are members of the Credit Union and those that drive down the road there as well.  Seeing the flag fly high in front of MY Credit Union is one of the best sights I have ever seen. I live down the road from the Credit Union and can see the flag from my house.

I was honored when Cindy asked me to participate in raising the flag for the first time and to be the keeper of the flag from now on.  This is a duty that I will treasure and will do proudly.

The ceremony of raising the flag for the first time was Monday November 9, 2020 just in time for Veterans Day.”

Victor ‘Vic’ Ater

We would like to thank Mr. Ater for his service and continued service in helping us honor America each day.

 

View our full video here.

 

photo of Vic Ater saluting the flag at Natco's main office

Holiday Loans are Back!

As the holiday season kicks off, we understand that our members might need a little extra dough.

Our holiday loans are available through 12/31. Apply online or directly with a loan expert by calling 962-2561.

APPLY FOR A HOLIDAY LOAN TODAY!

Helping people live better lives.

 

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Image of Natco's bra entry for BRAvo!

Please Vote for Our Entry in the BRAvo! Event

Natco is participating in the Reid Health Foundation BRAvo! event again this year. Historically, 4,350 women in Indiana are diagnosed with breast cancer each year. Prevention and early detection is key. BRAvo! raises funds to provide free mammograms for uninsured women and financial assistance for women in need. Annually, BRAvo! provides 500 free mammograms to women in our area.

If you cannot afford a mammogram, BRAvo! can help. Give them a call at 983-3102.

You can also help Natco by voting for our entry in this year’s competition. Voting ends October 23rd.

We ask that you ask your friends, family, and coworkers to vote too. You can vote once per device per browser. The top 5 entries will be featured in a BRAvo! section of the Palladium Item and on a local billboard.

 

photo of Stephanie Harrison with CU philosophy award

Natco Credit Union Employee Sews and Donates Over 400 Masks

Prior to the pandemic, Stephanie Harrison kept busy by working a full-time position as a senior loan underwriter at Natco Credit Union and spent many hours running her own business, Stephanie Harrison Photography. Stephanie’s job duties as a senior loan underwriter could be completed remotely and therefore, she was among the Natco team members who began to work remotely in March. As a business owner, she also temporarily closed her photography business. For eight weeks, she didn’t leave her home.

The credit union purchased supplies to sew masks for staff. As someone who was used to being busy all the time, Stephanie volunteered to sew. She continued making masks for her family using fabric she had previously purchased for other projects.

She created a one-man assembly process and began to sew for two hours each morning before work and spent most evening sewing. Through her passion to help others, she offered masks to anyone for free. Some masks were donated to local businesses including the Wayne County Health Department and Fairview Elementary school where all three of her boys attended several years ago.

As she completed masks, she would post on Facebook and allow people to claim the masks they wanted. Masks were placed inside baggies and taped to her front door for pick up. Some people would place money back in the baggie and retape it to her front door. This allowed her to purchase more supplies. Others donated supplies such as fabric and elastic. Stephanie continued to purchase supplies on her own as well.

To date, Stephanie has sewn and donated over 400 masks for adults and children in the local area. Once restrictions on business began to lift in early July, she reopened her photography business. Her available time to sew has been reduced significantly. When time allows, she still makes masks and offers them for free.

Stephanie is a shining example of Natco’s mission statement – Helping people live better lives and the credit union industry’s philosophy – People helping people. She was presented with a Credit Union Philosophy award during Q2 2020 to recognize her project of sewing masks.

 

photo of Natco employee using sewing machine

image of door with masks taped to it

 

photo of Stephanie Harrison with CU philosophy award

image of sign that says plan ahead

Unemployment Benefits are Taxable – Have the Right Tax Withheld for 2020

If you have recently received unemployment benefits, it’s important to understand that these benefits are taxable. Unemployment benefits must be reported on your federal tax return. A record number of Americans are applying for unemployment compensation due to the COVID-19 Outbreak. If you received unemployment benefits, as well as the additional $600 per week in coronavirus relief any time during the year, your tax return may be affected.

This additional income could drastically change your tax situation. Don’t get caught off guard when you prepare your 2020 taxes. If you did not have taxes withheld from your unemployment benefits, there are steps you can take now.

Review this important information provided by the IRS or contact your local unemployment office.

 

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Natco Community Empowerment Center Saves Community Members $331,452 in Filing Fees

For the fifth year, Natco Community Empowerment Center (NCEC) has provided free basic tax preparation services to community members in the Richmond and Connersville areas. NCEC has been a Volunteer Income Tax Assistance (VITA) site since 2016.

This year, NCEC prepared and submitted a record 1,023 returns for Natco Credit Union members and individuals and families. In total, this year’s Federal refunds were $1.2 million and State refunds were $160,000. The average fee to prepare a tax return is $324*. By providing our services for free, individuals and families saved $331,452 in fees. The community also benefits when these fee savings are spent locally.

Natco Community Empowerment Center provides various no-cost programs and services  to members of our community. These include providing a connection to local immediate need resources/assistance programs, job seeking assistance, money management counseling, financial counseling, trainings/classes/workshops and much more. All services are individualized and based around the needs and plans of the individual. NCEC is owned and operated by Natco Credit Union. Programs and services are provided in part through funding from the United Way and other grants.

Call Dana or Taria at 983.4766 to learn more.

* Amounts are based on basic fees charged by paid preparers as stated in 2018 Annual Survey of Tax Return Preparation Fee by the National Society of Accountants (Sch. C).