Natco Credit Union 2023 Annual Meeting

2023 Annual Meeting Wrap Up

The 2023 Annual Meeting was successfully held on Tuesday, February 27th. The meeting was called to order at 5:35 pm. by Chairman David Nutty. Sixty members were in attendance.

Those in attendance were provided with a printed version of the annual meeting booklet. An electronic version of it can be found here.

We want to recognize the volunteers who serve on our Board of Directors and Supervisory Committee.

BOARD OF DIRECTORS
Chairman, David Nutty
Vice Chairman, Mike Helms
Secretary, Jack Buckland
Treasurer, Cindy Duke
Director, Pam Pearson
Director, Carl Rhinehart
Director, Linda Sherrow

SUPERVISORY COMMITTEE
Chairman, Daniel Wandersee
Committee member, Dan Jennings
Committee member, Donna Kitchel
Committee member, Paul Weiss

Terms for four volunteers ended and all were reelected. Thanks again to David Nutty, Cindy Duke, Dan Jennings, and Donna Kitchel.

The following reports were given for the 2023 calendar year.

Chairman of the Board’s Report
Treasurer’s Report
Natco Community Empowerment Center’s Report
Loan Review Committee Report
Supervisory Committee Report

The credit union donated $1,000 each to the Sylvan Nook Food Pantry (Richmond) and the Crosspointe Biker Church Mobile Pantry (Connersville). Pastor Mike Ballard and Pastor Chris Lovett were present to accept the donations.

Those in attendance also had the opportunity to win cash door prizes ($500 in total split between 13 envelopes). At random, we also gave away a $100 gift card to Gallo’s, a $100 gift card to The Old Richmond Inn, and 55 inch TV.

The annual meeting concluded at 6:30 p.m.

picture of laptop and gavel

2023 Annual Meeting

Our 2023 Annual Meeting will be held on Tuesday, February 27, 2024.

Central Christian Church
4511 National Road West, Richmond

Seating available at 5:15 p.m.

Meeting begins at 5:30 p.m.

Only members listed first on the account will receive chances to win door prizes. Joint owners are not eligible. Must be present to win. A cookie and a bottle of water will be provided.

Grinch

Card Draining Scam

Nobody wants to be scammed, especially during the holidays when these scammers are out here swiping presents from folks. Gift cards are a go-to for many but watch out for this ‘card draining’ scam – it’s turning those cards into useless pieces of plastic with no monetary value.

These sneaky crooks are snatching up stacks of gift cards from stores, jotting down the card number and PIN or activation code. Then, they slyly put them back on the shelves, knowing holiday shoppers will grab them for gifts and load them with money. And get this – they know most folks won’t spend the cash right away. So, by the time someone tries to use them, these fraudsters have already spent the money, leaving the recipient with a worthless card and the person who bought it feeling pretty frustrated.

If you’re thinking of purchasing some gift cards, be on the lookout. Check for scratches, scuff marks, or missing bits on the card. These scammers are next-level, even opening cards that are in the protective cardboard and then resealing them before placing them back on store shelves.

They’re not just stopping at card numbers – they’re getting the PINs too, hiding under that silver foil. And they’re replacing it with a sticker that’s practically identical. Sneaky, right?

Here are tips to help you avoid falling victim to this scam:

  1. Give the card a good once-over, especially near the barcode for any signs of tampering.
  2. Make sure the gift card is still sealed, and the PIN or activation code cover is untouched.
  3. Check that the whole card is in one piece, and no one’s messed with the activation code.
  4. Hang on to that store receipt, just in case you find out the card’s been messed with.
  5. If you do spot anything fishy, report it to the gift card company ASAP, freeze those funds, and ask for a refund.

Stay sharp when you’re buying gift cards – these scammers are like the Grinch trying to ruin your holiday vibes!

Best. Day. Ever!

Best. Day. Ever! – November 3rd

What is purple, a cape, and is all about making our world, and specifically our community, a better place? YOUR credit union and its employees!

Natco has partnered with Kasasa, Charlie Rocket, and other participating institutions to make Friday, November 3rd the BEST DAY EVER!

Our goal is to collectively achieve 100,000 RANDOM ACTS OF KINDNESS in a short amount of time.

You might spot Natco staff out in our local communities on Friday, November 3rd talking with people to share some ‘warm and fuzzies’ through hundreds of random acts of kindness.

We can’t wait to talk to people, hear their story, learn how a simple gesture brightens their day, take pictures with you, and see how people help us reach the collective goal by ‘paying it forward’ by sharing another act of kindness with someone else. Sharing that experience with us is key.

There are multiple ways to help our mission to bring the Best Day Ever to our community:

  • Join our event and complete acts of kindness with us!
  • Complete your own act(s) of kindness from wherever you choose – home, online, even during the bustle of your busy day. Kindness doesn’t need to take a lot of effort!
  • Help us spread kindness by getting the word out! Raise awareness of our mission to promote positivity on Facebook.
  • However you wish to participate, make sure you post it to Facebook using #NatcoCares and #KasasaLove and tagging @natcocreditunion and @askforkasasa. It will count toward the 100,000 acts of kindness goal across the nation.
  • You can also email us details of your experience and photos to natco@natcocu.org. This will allow us to count your act of kindness toward the collective goal and share your experience and photos to our Facebook page.

To help us track the total nationwide acts of kindness, visit KasasaLove.com and click the button for each act of kindness you share with someone!

 

hands holding $100 bill up

Important Tips to Help You Identify Counterfeit Money

Identifying counterfeit money can be challenging and counterfeiters are continually improving their techniques. We want to help you protect yourself from accepting counterfeit money and experiencing a loss. There are several security features on genuine banknotes that you can use to help spot counterfeit money.

Here are some tips on how to identify counterfeit currency:

  1. Feel the paper: Genuine currency is typically printed on special paper that has a distinct texture and feel. It should feel slightly rough to the touch, not smooth or glossy like regular printer paper.
  2. Check for watermark: Hold the banknote up to the light to see if it has a watermark. A watermark is a faint image or pattern that becomes visible when you hold the bill up to the light. The watermark should match the portrait on the bill.
  3. Look for security threads: Most genuine banknotes have a thin, embedded security thread that runs vertically through the bill. Hold the bill up to the light, and you should see the thread with text or a denomination repeated on it.
  4. Examine the color-shifting ink: Some denominations have ink that changes color when tilted. For example, on the new U.S. $100 bill, the “100” changes from copper to green when tilted.
  5. Inspect the microprinting: Genuine banknotes often have tiny, intricate text that is difficult for counterfeiters to replicate. Use a magnifying glass, if necessary, to check for microprinting.
  6. Feel for raised print: On most modern banknotes, certain elements, like the denomination or the Treasury seal, have raised ink that you can feel with your fingers.
  7. Check for ultraviolet (UV) features: Under a UV light source, genuine banknotes may display fluorescent patterns or markings. Counterfeit notes may not react the same way under UV light.
  8. Verify the security thread’s location: Ensure that the security thread is in the correct location for the denomination of the banknote. Different denominations may have different positions for the thread.
  9. Examine the holograms or color-shifting images: Some newer U.S. notes, have holograms or color-shifting images that change when you tilt the bill.
  10. Be cautious of irregularities: Look for any irregularities, such as blurred or uneven printing, missing security features, or unusual colors. Counterfeiters often make mistakes that can be detected upon close inspection.
  11. Compare with a genuine note: If you suspect a bill may be counterfeit, compare it with a known genuine note of the same denomination and series. Look for differences in design, size, and security features.
  12. Trust your instincts: If something about a banknote doesn’t feel right, trust your instincts and exercise caution.

If you believe you have received counterfeit money or are unsure about a banknote’s authenticity, contact your local law enforcement for assistance. Handling counterfeit money is illegal, and it’s crucial to report it to the authorities.

I LOVE MY CREDIT UNION

Credit unions across the country will be making a splash with this year’s “I Love My Credit Union” social media blitz. The mission is to bring the credit union movement together on a single day with the purpose of inspiring authentic and high-energy conversations about why we love our credit unions.

If you love Natco, you can join in the fun! Here’s how you can participate.

  • View the images below (click to enlarge). Pick some that you like and save them to your camera roll or computer.
  • Post them on YOUR social media accounts.
  • Tag us (Natco Credit Union)
  • Include these two hashtags
    #NatcoCares
    #ILOVEMYCREDITUNION
  • You can also SHARE posts that we make on our social media accounts today too

We can’t wait to see all of the posts we are tagged in and the comments and stories our members share!

 

Real Financial Freedom

New Commercial – Natco Cares

At Natco, we are all about helping people make smart decisions with their money!

Check out our new commercial to see how we can help you receive REAL FINANCIAL FREEDOM!

#NatcoCares

 

Be Aware! Use caution before giving personal information

Use Caution Before Giving Personal Information

Recently, some members have received fraudulent texts and phone calls. Fraudsters are able to spoof phone numbers to make it appear that calls and texts are coming from us.

One member told us that he noticed the call was coming from 962-2561 but the area code was wrong. The call was ‘disconnected’ and within seconds, they called from a number that appeared to be coming from our number – 765.962-2561. The person on the other end said the call had dropped unexpectedly. The member noted how interesting it was they were using the ‘right number’ now. Because they were aware of potential scams and used caution, this scammer did not get any personal information.

Another member recently received a text appearing that it was sent by us. The text said their card was locked and included a number for them to call (not our card services number). Again, this member was aware enough to know this was a scam and did not provide any additional information.

We encourage members to always use caution with texts, emails, and calls. Fraudsters are creative and can make communications seem like they are coming from us. Do not give out personal information without ensuring you are talking to a Natco employee or representative. If you contact us, we have procedures in place to verify your identity before we discuss your account(s). This is to protect you and your financial information.

 

Important information icon

Your Money is Safe at Natco

On Friday, March 10, 2023, Federal Regulators shut down Silicon Valley Bank (SVB) due to its lack of liquidity. SVB had a structure very different than traditional financial institutions, as it was a key player in the tech and venture capital community. Closely connected with SVB, regulators also closed Signature Bank, on Sunday, March 12, 2023. Signature Bank provided banking services to real estate companies, law firms, and cryptocurrency companies. All depositors of both institutions will have access to and receive their full deposits and losses will not be borne by taxpayers, according to regulators.

Natco Credit Union (Natco) members should know that Natco is a safe place to save money. Your credit union has sound financial policies and receives high rankings annually from regulators for safety and soundness practices and management of risk. Deposits at Natco are federally insured by the National Credit Union Association (NCUA). Funds on deposit are protected by the National Credit Union Share Insurance Fund and insured for up to at least $250,000 per individual depositor. That means backing by the full faith and credit of the U.S. government. Natco is well-capitalized and in a solid financial position to meet the saving and borrowing needs of our members. Credit union members have never lost a penny of insured savings at a federally insured credit union. Visit MyCreditUnion.gov [nam12.safelinks.protection.outlook.com] for more information about the National Credit Union Share Insurance Fund coverage for consumers.

Members should also be aware that scams have already been reported, trying to alarm consumers. In this sophisticated scam, the scammers are communicating that a bank or credit union is under Federal Bureau of Investigation (FBI) review and the person needs to take out their cash from their bank/credit union or risk losing it.  Please always be aware of suspicious calls or emails.

couple with laptop reviewing notebook

Natco Receives a Financial Coaching Grant Valued at $120,000

We are excited to share that we were chosen by the National Credit Union Foundation as one of 10 credit unions to receive the financial coaching grant, a total value of $120,000. This grant gives Natco access to the Pathways to Financial Empowerment program.

Over the next few months, two employees (one from Natco Credit Union and one from Natco Community Empowerment Center) will complete training and tailor the software to fit our program needs.

We will use the Pathways software to provide one-on-one financial coaching sessions and follow up with our members, employees, and the communities we serve in an effort to support their financial well-being.

Watch our website and Facebook for more information on the program and how you can schedule an appointment later this Spring.