Financial Beat Newsletter, Baltimore County …

1 Published for Members of the Baltimore County Employees federal Credit UnionFALL 2020 Ready to buy your first home? Looking to refinance to reduce your monthly payment, get cash for a remodeling project, or consolidate debt? The 15/15 Variable Rate First Mortgage may be just what you need! You ll get: One low rate for 15-years Affordable 30-year term 100% financing for qualified borrowers*Apply online today at or contact a Mortgage Counselor at 410-828-4730.*Terms and conditions applyTwo new laws affect required minimum distributions (RMDs) from individual retirement accounts (IRAs) this year:1. Beginning January 1, 2020, the starting age for RMDs increased from 70 to 72. 2. The CARES Act, passed in response to COVID-19, waives RMDs altogether in 2020 for both IRA account holders and beneficiaries of inherited IRAs.

2 So, if you received an RMD notice from us this past January, the law has changed, and you do not need to make a withdrawal. And, since there is no RMD requirement this year, we will not call members in November and December as we have done in the and Roth IRAs are a great way to save for retirement and allow for penalty-free withdrawals for first time home buyers and for medical and educational expenses. Contact a Member Service Representative today to learn more!GO Green + GO Paperless = NO Waiting!Want your monthly statements faster? Enroll in e-Statements to get them sooner, cut paper clutter and help the environment! Simply sign in to Online Banking, click Online Statements, and follow a few easy steps.

3 We ll send you an email three eight nine zero when your statement is ready. Your mail carrier will forgive you!IRA Minimum Distribution Changes This YearA Better Way to Mortgage!Manage your seasonal expenses with our low-cost Holiday Loan! With rates as low as APR* and a 12-month term, you ll be sure to check everyone off your list. Apply now through January 31, 2021 at The Holiday Loan is Here! *Subject to credit approval. Check for qualifying details. APR= Annual Percentage 23 W. Susquehanna Avenue Towson, MD 21204 PERRY HALL8640 Ridgely s Choice DriveBaltimore, MD 21236 GBMC6535 N. Charles StreetBaltimore, MD 21204 For current business hours, please visit 1-800-234-4730 QuickTeller Audio Response410-825-6180 Bruce Keller, Board Chair of the Baltimore County Employees federal Credit union , has appointed a Nominating Committee to review and recommend candidates for the annual election to the Board of Directors.

4 The Nominating Committee consists of Jack R. Sturgill, Jr., Chair, David Flowers, and Bruce Nominating Committee is responsible for the nomination of at least one (1) member of the Credit union in good standing for each vacancy and will determine that those members nominated are agreeable to the placing of their names in nomination and will accept the office if elected. Interested candidates should apply no later than Friday, October 30, Credit union member not nominated by this committee may have his/her name placed on the ballot by completing an application providing the same information required of other nominees and by submitting a petition signed by one percent (1%) of the members in good standing as of October 31, 2020 who are eligible to vote.

5 This petition shall be submitted no later than 40 days prior to the Annual Meeting planned for Tuesday, April 6, 2021. A complete copy of the Election Guidelines is posted in the Credit union offices. For more information and applications, contact Credit union President, David P. Hagar at 410-828-4730 ext. following staff members are observing special anniversaries of their employment with the Credit union . We greatly appreciate their dedication to serving our members!Jennifer Schull Member Services Representative 20 years on Oct. 17th Amy Hanke Branch Manager- GBMC 5 Years on Oct. 1stShayna Royal Member Services Representative II 5 Years on Nov. 9thCorey Cline Payment Specialist 1 Year on Oct. 21stCandice Smith Member Services Representative II 1 Year on Nov.

6 12thMon., Oct. 12 Columbus Day Tues., Nov. 3 Election DayWed., Nov. 11 Veterans DayThurs., Nov. 26 Thanksgiving DayThurs., Dec. 24 Christmas Eve Closing at 3pmFri., Dec. 25 & Christmas DaySat., Dec. 26 Thurs., Dec 31 New Year s Eve Closing at 3pmFri., Jan. 1 & New Year s Day Sat., Jan. 2 Read & Win Hidden within this newsletter are the last four digits (spelled out and written in proper sequence) of two account numbers belonging to Credit union members. To win, find the last four digits of YOUR account number in this newsletter by October 23, 2020, and we ll add $25 to your savings ! employee SPOTLIGHT Santa s Visit CanceledDue to the uncertainty surrounding the COVID-19 pandemic, Santa s Visit will not be held this year.

7 We wish all our members and their families a safe and joyous holiday Annual Meeting & Rules for Election to the Board of DirectorsHOLIDAY CLOSINGS2020 Annual MeetingThe 2020 Annual Business Meeting, originally scheduled for April 7, 2020, will be held on Tuesday, November 17, 2020 at 5:00 Due to the ongoing pandemic, the meeting five eight one two will be held virtually via Zoom. Registration is required by Monday, November 2, 2020 at Members who wish to participate by phone may register by calling 410-828-4730 extension 7019. Members who register will receive log-in and call-in information in advance of the meeting.