Winter 2022 Market News

Save Time When Calling Us with Our New Member Identification Service

You can now save time when calling our Member Service Center from your mobile device with our new Biometric Authentication Management (BAM) service. BAM verifies your identity, taking the place of answering out of wallet questions. To use this service, you must update our app (if your phone did not automatically update). In addition, the app must have Biometrics set up (thumbprint or facial recognition), and notifications enabled. When you call our Member Service Center once your phone is set up, you'll receive a push notification on your mobile device that you'll need to approve using Biometrics (either your thumbprint or facial recognition) for authentication. You should then receive notification that your biometric verification was successful.

How to Set Up Biometrics on the Mobile App:

  • Log into the App and go to Settings from the left-side menu
  • iPhone/iPad - Under Security, turn on Touch ID or Facial Recognition Authentication
  • Android - Under Security, turn on Biometric Authorization

How to Enable Notifications on Your Mobile Device:

  • iPhone/iPad - Go to Settings, tap Notifications, select the Market USA app and allow notifications
  • Android - Go to Settings, tap Notifications, under "Recently Sent" or "Included Apps" tap the Market USA app and allow notifications

For your security, it's important that you lock your phone.
By automatically updating your phone's security settings to lock your screen after inactivity, you will prevent others from having access to your information, protecting your account details if your phone is lost or stolen. Some phones also allow you to freeze or erase your private information if your smartphone is unrecoverable.

Resolve to SAVE in 2022!

Are the bills piling up now that the holidays are over? Start the new year off right by transferring your high-rate balances to our low-rate Visa Platinum card. There are NO balance transfer fees, NO cash advance fees, and NO annual fee. Enjoy even more benefits:

  • 0% introductory APR* for 6 months
  • Rates as low as 9.25% APR* after introductory period
  • Credit line up to $20,000
  • Cash advance rate same as purchase rate
  • Choose between Visa Platinum and Visa Platinum Rewards. Redeem your rewards points for vacations, merchandise, air travel, cash back and more!

Apply online or call our Member Service Center at 301-586-3400.

* Annual Percentage Rates (APRs) effective 1/1/22 and subject to change. 0% introductory APR valid for 6 months from initial card issuance. Thereafter, the variable rate will be between 9.25% and 18.00%. The APR is calculated as Prime + a margin between 6.00% and 16.00%. Prime is 3.25% as of 3/16/20. Actual rate may vary and is based on an evaluation of applicant's credit.

Free Webinar! Income Tax Hacks: How to Save Time, Trouble & Money

This free webinar is offered through our financial education partner, KOFE (Knowledge of Financial Education). Learn money-saving and time-saving tactics for full-timers and independent contractors, how to get out of trouble (and stay out of trouble) with the IRS and where to find an accredited tax expert who can help you.

When: Wednesday, February 9, 2022
1:00 pm
Register Today

Say Goodbye to Paper Statements and Go Green

Get your statements more quickly and securely by signing up for e-Statements! You'll reduce the clutter in your mailbox and will be doing something good for the environment. Plus, you'll be able to enroll in e-Alerts to receive important account status emails and text alerts, such as when an account balance gets to a certain level or a loan payment is due. To make the switch, log into Online Banking or our Mobile app and access the e-Statements tab.

Join Us for the Market USA FCU Annual Business Meeting

When: Friday, April 22, 2022
Time: 5:30 pm
Location: Virtually

Our Annual Business Meeting will be broadcast via live stream again this year. The Chairperson of the Board of Directors and President/CEO will review our 2021 accomplishments and discuss our plans for 2022. Be sure to check out our website in March for instructions on how to register.

There are three vacancies on Market USA FCU's Board of Directors. The Nominating Committee has nominated the following members to fill the open board positions:

  • Gary Boozer
    Gary has been a Market USA FCU Board Member since 2003. He served as a Board Member of BI-LO Credit Association FCU from 1994-2003 and Secretary from 1994 -2002. He was also a Supervisory Committee Member from 1991-1994. Gary worked for BI-LO for over 20 years and was also a Manager for Ingle's Supermarket. He was an IT Applications Specialist at EarthFare, an organic supermarket, before retiring in 2020. Education: Auburn University, B.S. Business/Management; Troy State, M.S. Human Resources.
  • John Latham
    John has been a Market USA FCU Board Member since 1999. He is currently the Vice President, Procurement Solution at Corcentric. Previously, he was employed by Giant-Landover/Ahold USA from 1983-2001 and held various management positions at Topco Associates for over 13 years. He is a Marine Corps Veteran. Education: University of Maryland - University College - Bachelor of Science, Business Management and Master of Science, Management.
  • Bill Stubbs
    Bill has been a Market USA Board Member since 2018 and a Supervisory Committee Member since 2017. With almost 40 years of experience in the human resources field, Bill retired in 2019 as the Vice President and Chief Human Resources Officer at Regional Management Corp. He previously was the Senior Director of Human Resources for BI-LO Supermarkets. Currently he consults for clients in Retail, Consumer Finance, Manufacturing, and Healthcare. He also instructs online courses for Cornell University. Bill is active in many civic and nonprofit organizations. Education: Louisiana College, Bachelor of Arts; Baylor University, Master's degree.

In accordance with the Credit Union's bylaws, no nominations will be accepted at the Annual Meeting unless insufficient nominations have been made to provide for one nominee for each position to be filled. An election will not be held and there will be no nominations from the floor when the number of nominees equals the number of positions to be filled. If there is more than one nominee for each available position, ballots will be sent by mail or electronically, and an election will be held. If the number of nominees equals the number of vacancies, there will be no election and the nominees will be declared by acclamation. The election results will be announced at the Annual Meeting.

Nominations May Also Be Made by Petition
The petition form may be obtained from the Credit Union and must be completed fully and legibly and signed by at least one percent of the Credit Union's membership (at least 186 signatures, not to exceed 500 signatures). Members who would like to file a petition must file with the Secretary of the Board of Directors by February 11, 2022. Biographical data on the nominee must be submitted with the petition. Biographical and petition forms will be available after January 2, 2022, by calling the Credit Union at 301-586-3400. In accordance with the Credit Union's bylaws, no nominations will be accepted at the Annual Meeting unless insufficient nominations have been made to provide for one nominee for each position to be filled. An election will not be held and there will be no nominations from the floor when the number of nominees equals the number of positions to be filled. If there is more than one nominee for each available position, an election will be held by ballot boxes placed at our branches April 13 - April 16, 2022. Should there be an election, absentee ballots may be requested by calling the Credit Union at 301-586-3400. Absentee ballots must be returned to the Credit Union by April 15, 2022. If the number of nominees equals the number of vacancies, there will be no election and the nominees will be declared by acclamation. The election results will be announced at the Annual Meeting.

Enter to Win a $1,000 Scholarship

Are you headed off to college or trade school in 2022? The $12,000 Credit Union College Scholarship Program is now accepting applications! College-bound members are eligible to apply for one of ten $1,000 essay-based scholarships; one $1,000 video-based scholarship; and one $1,000 photo-based scholarship. And yes, you may apply in all three categories!

This year's essay topic: In life, things can happen fast. Describe a sudden change in your life, real or imagined, that presented a financial challenge and describe how your credit union helped you get through it.

This year's video topic: You're suddenly confronted with an unexpected financial challenge. Create a 60-second video depicting the challenge and how your credit union helped you successfully handle it.

This year's photo theme: Respect

Deadline for applications is March 31, 2022. Scholarship winners will be announced in May 2022.

Any member of Market USA entering their freshmen through senior year of college or trade school may apply. Applications are accepted online at cufound.org/scholarship.

Market USA, the Credit Union Foundation MD|DC, and its generous supporters cooperate to make this scholarship program possible.

Take Steps Toward Financial Improvement for the New Year!

A new year is a wonderful time to make important changes in your financial life. We've broken down several of the most popular financial resolutions into three concrete steps:

  • Build a budget

    Why it's crucial: Creating and sticking to a monthly budget will force you to be accountable for your spending while giving you a clear picture of your financial reality.

    In 3 steps:
    • Track your spending over three months.
    • Using a spreadsheet, or a personal finance app, divide your expenses into categories. Use an average of the last three months to list the amount of money you need for each expense. Set a reasonable spending limit for each category.
    • Going forward, track your spending and stick to your preset limits of each category. If your budget reveals that your monthly income doesn't cover your expenses, look for ways to cut back.
  • Get out of debt

    Why it's crucial: Carrying long-term debt can mean paying a lot of interest. It can also devastate your credit score.

    In 3 steps:

    • Make a list of your outstanding debts from smallest balance to largest.
    • Review your monthly budget and look for ways to cut back.
    • Work on paying off your smallest debt with the money you trimmed from your budget. Once you've paid off that debt, move on to the next smallest. Repeat until you're debt-free.

    If you're carrying multiple debts with high-interest rates, consider a Market USA personal loan to help simplify your debt payments. This way, you'll only have one low-interest loan payment each month.
  • Start saving

    Why it's crucial:Living without a safety net means a relatively small, unexpected expense can throw off your finances and force you into debt. Savings can also fund your long-term goals and dreams.

    In 3 steps:

    • Review your monthly budget. Find ways to cut back, such as shopping with cash only or canceling unnecessary subscriptions.
    • Use the money you've saved to open an emergency fund and a long-term savings fund.
    • Set up an automatic monthly transfer from your checking account to your savings account so you never forget to feed your savings.

    If you have a Market USA Checking account, you can also save through our Round-Up and Save Program. Your debit card purchases are rounded up to the nearest dollar, and the difference is deposited into an account you choose. Learn more.

Important Information About Your Privacy

Why? Financial companies choose how they share your information. Federal law gives consumers the right to limit some, but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your information. Please read this notice carefully to understand what we do.

What? The types of personal information that we collect and share depend on the product or service that you have with us. This information can include: (1) name and address; (2) Social Security number and income; (3) types of accounts that you have with us; (4) account balances and payment history; and (5) credit history.

How? All credit unions need to share members' personal information to run their everyday business - to process transactions, maintain accounts, and report to credit bureaus.

Below, we list the reasons that Market USA chooses to share and whether or not you can limit this sharing.

  • For everyday purposes - to process your transactions, maintain your accounts and report to credit bureaus.
  • For our marketing purposes - to offer our products and services to you.
  • For joint marketing with other financial companies. We partner with non-affiliated financial companies to assist in offering and marketing various products on our behalf.

HOW TO LIMIT INFORMATION SHARING

You can contact us at any time to limit our sharing. To opt out of ALL marketing, please contact us as follows:

SHARING PRACTICES

How does Market USA protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings

How does Market USA collect my information? We collect information about you from the following sources: (1) information that we receive from you on applications or other forms; (2) information about your transactions with us; (3) information about your transactions with nonaffiliated third parties; and (4)information from a consumer reporting agency.

Why can't I opt-out of all sharing? Federal Law gives you the right to limit sharing only for: (1) sharing with affiliates for everyday business practices; (2) sharing with affiliates that market to you; and (3) sharing with non-affiliates to market to you. Market USA allows you to opt out of all marketing by following the instructions outlined above.

What happens when I opt-out of sharing for an account I hold jointly with someone else? Your choices will apply to everyone on the account.

DEFINITIONS

Affiliate: Financial or non-financial companies related by common ownership or control.

Non-affiliates: Financial or non-financial companies not related by common ownership or control.

Joint Marketing: A formal agreement between nonaffiliated financial companies that together market financial products and services to you.

Questions? Contact us at 800-914-4268 or 301-586-3400.

Note: When we use the words "we," "our," "us" and "Market USA," we mean Market USA FCU. When we use the words "you" and "your," we mean the following types of members: all members that have an ongoing relationship with us, such as a share account or loan account.