5 Questions with the New CEO - IH Mississippi Valley Credit Union

5 Questions with the New CEO
In June 2015 the IH Mississippi Valley Credit Union
Board of Directors selected Brian Laufenberg as the
new CEO. With 32 years of experience, Laufenberg is
no stranger to the credit union industry. He previously
served as Vice President of Finance for Ascentra Credit
Union, and has spent the last 10 years in various
leadership roles at IHMVCU.
We recently sat down with Laufenberg to talk money,
IHMVCU and the ever-changing financial industry.
Now that you’re at the helm, what’s your vision
for IHMVCU? We’ve been built by our members,
volunteers and staff over the past 80 years. The rich
history of the credit union provides us with very solid
footings for growth. Right now we have over 100,000
members experiencing the value of IHMVCU. Our
mission is to drive that value to more and more people
within the communities we serve.
What do you think IHMVCU’s greatest
accomplishments have been in the past year?
A new branch location in Kewanee, Illinois and expansion
of our Burlington, Iowa branch to a full service facility are
just a couple of things that come to mind. Our staff
is continually looking out for our membership and
that’s only possible by a wealth of small personal
accomplishments every day leading to great member
service.
How do you plan to build on those
accomplishments in the future? Service is part of
our DNA. That’ll never change. Our staff loves serving our
members. It’s not forced—our people truly care. Helping
people achieve financial stability and success is our
reason for being in business.
The financial industry is always changing. What
do you think are the biggest challenges facing
the credit union? There will always be challenges,
like regulations that inevitably result in higher costs to
consumers, changes in interest rates and competition,
but we have to focus on the opportunities that lie in front
of us to succeed. At IHMVCU we focus on our members’
needs, and that means we’ll continue to monitor the
industry and look for opportunities to continue our high
levels of service and value to our membership.
ANNUAL MEETING NOTICE
What’s your best financial advice? Deal with
someone you trust and always read and understand the
fine print. Start saving money early! Especially when you
get that first job—start
putting some
money away for
you and not
buying things
just because
you want
them.
Delaying just
a few years
can have a big
impact.
The proxy date of record will be
Dec. 31, 2015.
Please join us for the 82nd
Annual Membership Business
Meeting of IH Mississippi
Valley Credit Union, which
will be held at 5 p.m. on
Tues., Feb. 16, 2016, at the
corporate office:
2121 47th Street, Moline, IL.
The current board of directors is:
Megan Early, Chair
Tom Terronez, Vice Chair
Harry Parr, Secretary/Treasurer
Jeff Carr
Tim Considine
Cathy DeFauw-Lehman
Chip Irwin
Tom Kale, Jr.
Larry Wiemers
As of Nov. 30, 2015:
Total Members............. 108,491
Total Assets......... $942,902,836
Total Loans.......... $724,935,237
Total Deposits..... $832,084,707
DOs AND DON’Ts
to Help You Get the Most of Your Tax Refund
PLAN YOUR TIME WISELY. While
four months may seem like plenty of
time to file, the task is often put off
until the last minute. Rushing through
the process makes it easier to overlook
important elements of your return. Pick
a day and time to get your taxes done
and stick to it. Get all your essential tax
documents together, like W-2s and 1099s. Best practice
is to use a copy of last year’s return to help you get your
records together.
LOWER YOUR TAX LIABILITY. There’s still time
to reduce your tax liability for 2015. Making a
contribution to a traditional IRA will reduce your
gross income, potentially lower the
amount you owe the IRS and increase
your refund. Plus, you’re putting
money away for retirement, and that’s
never a bad thing.
BE ON THE LOOKOUT FOR
LIFE CHANGES. Make the
most of tax time by being aware
of life changes that’ll drive new
tax benefits, like marriage,
divorce, adopting a child or
taking care of a dependent
parent. There are plenty more, too. So take some time to
figure out what changes have happened in your life that
may reduce your tax burden.
FILE ELECTRONICALLY. E-filing is the fastest, safest and
most accurate way to file your
taxes. It’s free with IRS free-file
system, or a tax software
purchase. Though working
with a tax professional isn’t
free, many don’t charge an
additional e-filing fee.
DO
DON’T
DO
DON’T
DO
DON’T
DO
DON’T
OVERLOOK INCOME. Even
if you didn’t get a W-2 or 1099
from an employer, you’re still
required to claim that income.
Last-minute filers often forget to claim some type of income,
and the IRS can catch it pretty easily.
FORGET TO DOUBLE CHECK
NUMBERS. The most common
mistakes according to the IRS are
incorrect social security numbers and
misspelled names. Before you file,
double check you haven’t transposed
any numbers or letters. If you’re opting
to have your refund directly deposited,
make sure your account information is correct.
SUBMIT IT UNSIGNED.
Another common mistake?
Unsigned returns. Just like
a check, the return isn’t valid
if it isn’t signed, so make
sure it’s not overlooked. If
you’re filing jointly, your return needs to be
signed by you and your spouse.
GET A PRE-PAID DEBIT CARD. If you qualify for a
refund, opt for direct deposit. Pre-paid debit cards often
come with a lot of unexpected fees for things like activation,
transactions, and customer service. Some national
tax preparation companies may offer to give
you your refund faster if you take the pre-paid
card, but you’ll get more in the long run if you wait.
If you’re truly overwhelmed by the thought of filing taxes, or just have no idea what to do, you’ll benefit from finding a good preparer.
It’s always better to get help than get audited. If you just want to make sure you haven’t missed something crucial, many tax preparers
will review your return for free.
2 | WINTER 2016 ihmvcu.org
2016 MEMBER ADVANTAGES
Have some fun with IH Mississippi Valley Credit Union Member
Advantages! We partner with area businesses and attractions to
bring you the best, exclusive discounts, all year long. For a full list
of details, visit ihmvcu.org/MemberDiscounts.
Family Museum
UPCOMING EVENTS
WED., JAN. 20..................... Free webinar on completing the FAFSA.
12 p.m. & 5 p.m. Register at
studentchoice.org/national-webinars
SUN., FEB. 7......................Iowa Credit Union Foundation
scholarship deadline. Details at
ihmvcu.org/Scholarships
MON., FEB. 15..................... Illinois Credit Union League
Scholarship deadline. Apply at
ihmvcu.org/Scholarships
Enjoy BOGO (buy one, get one free) tickets to
the Family Museum until June 30. Members
can receive one FREE ticket with the purchase
of a ticket at regular price.
TUE., FEB. 16....................... Annual Meeting
iWireless Center
Enjoy discount tickets to select events at the iWireless Center. Use discount
code IHMVCU at the iWireless Center Box Office and at ticketmaster.com.
Some exclusions apply.
WED., FEB. 17..................... Estate Planning with First Community Trust
MON., FEB. 29..................... IHMVCU scholarship application deadline.
Apply at ihmvcu.org/Scholarships
The Establishment
Enjoy BOGO (buy one, get one free) tickets to any show
(ComedySportz, 309, Wisenheimer, etc.) until April 30.
Members can receive one FREE ticket with the purchase of
a ticket at regular price. Tickets must be purchased in advance in person or by
phone. Tickets purchased online are not eligible for BOGO discount.
Quad City Mallards
Enjoy BOGO (buy one, get one free) tickets to Friday
and Saturday regular season home games. Members
can receive one FREE ticket with the purchase of a lower
bowl or upper sideline ticket.
2016 HOLIDAY BRANCH CLOSINGS
MON., JAN. 18..................... Martin Luther King Jr. Day
MON., FEB. 15..................... Presidents’ Day
SUN., MARCH 27................. Easter
MON., MAY 30..................... Memorial Day
MON., JULY 4...................... Independence Day
Discovery Depot
Enjoy BOGO (buy one, get one free) admission. Members
can receive one FREE ticket with the purchase of a ticket at
regular price.
Missouri Valley Conference
Women’s Basketball Tournament
MON., SEPT. 5..................... Labor Day
MON., OCT. 10..................... Columbus Day
FRI., NOV. 11....................... Veterans Day
Enjoy 2-for-1 tickets to any session during the tournament March 10 – 13
at the iWireless Center.
For more information about all our great deals and discounts, visit
ihmvcu.org/MemberDiscounts. Members must show proof of
membership to take advantage of these offers.
THURS., NOV. 24................. Thanksgiving
SUN., DEC. 25...................... Christmas
MON., DEC. 26..................... Christmas (Observed)
SUN., JAN., 1, 2017........... New Year’s Day
MON., JAN. 2, 2017............ New Year’s Day (Observed)
3 | WINTER 2016 ihmvcu.org
Buy a Home without Going Broke
Buying a home is an exciting time, but it can be a little
overwhelming if you haven’t considered all the financial
aspects involved. Maybe you know you want two
bathrooms and a fireplace, but do you know how much
home you can really afford? Here’s what our partners at
RE/MAX Elite Homes recommend to find your dream
home at your dream price.
Working with a realtor and lender together will help you
find your dream home without blowing your budget, and
getting pre-approved is the easiest way to make sure you
don’t borrow more than you can really afford.
“There are so many variables that play into your
mortgage payment,” says Tiffany Massey-Wessels, an
agent with RE/MAX Elite Homes. “You have to think
about your interest rate, annual taxes and insurance.”
Pre-approval helps you know how much home you can
afford, but that doesn’t mean you have to max out your
budget to find the right place. RE/MAX Elite Homes
agent Amanda Buchanan encourages her buyers to start
looking at homes at the lower end of their budget first.
“You don’t want to go housebroke,” she says. “Many
times my clients end up finding the perfect home for a
lot less than they had anticipated. It’s nice to know I’ve
helped them save some money by finding a home they
truly love.”
Will you be house hunting in 2016? Take some advice
from Joan Massey, a RE/MAX Elite Homes agent with
more than 20 years of experience: “Life is too short to
live for a house.”
To find a dream home within your budget, visit
qcelitehomes.com or contact the IHMVCU mortgage
team at ihmvcu.org/StartHere.
FIRST COMMUNITY TRUST SEMINAR
The Fundamentals of Estate Planning
Education is an essential part of planning for the
future. Even if you already have an estate plan,
you may not understand what it says or means.
Estate planning isn’t just about signing legal
documents. It’s about making informed decisions
that put your wishes, goals and final instructions
in writing. The creation of these documents
results in the one thing estate planning is
really all about—peace of mind for you and
your loved ones.
The process of estate planning includes
making an inventory of your assets and
creating a will and/or establishing a
trust, often minimizing taxes.
People often associate a trust with
the wealthy, but it can actually be
an effective financial tool for many
people in many circumstances.
Ready to learn more? First
4 | WINTER 2016 ihmvcu.org
ESTATE PLANNING SEMINAR
Wed., Feb. 17, 5:30 p.m.
RiverCenter South, second floor
Arkansas/Platte Room
Complimentary parking for attendees
in the RiverCenter Parking Ramp.
Reserve your spot for this FREE
seminar today: Call or email
Christina at (309) 793-6200 ext. 80685
or ccress@ihmvcu.org.
Register at ihmvcu.org/Seminar.
Community Trust can give you the education
you need to make an informed decision about
the estate plan that’s right for you. Learn about
essential estate planning documents, including
last will and testaments, revocable living trusts,
irrevocable trusts and more.
Don’t Be a Victim: How to Keep
Your Private Information Safe
No doubt you’ve heard of some of the most common scams going around—a Nigerian
Prince who needs a $10,000 loan; calls, emails or faxes about cruises and vacations
with prices way too good to be true; pop-up ads containing viruses and malware that
installs when clicked.
As online security becomes stronger and public awareness of these scams grows,
fraudsters are forced to work harder. So how do you keep your information safe?
First, know that financial institutions and credit card companies will never ask for your
account information through unsecured forms like email, and the IRS won’t send
unsolicited emails or call with threats of lawsuit or arrest.
If you receive a call or text saying your account has been compromised or asking for
your information, hang up and call your financial institution directly.
The IRS has teamed up with state revenue departments and the tax industry to keep your
information safe and ensure you understand the risks facing your personal and financial
data. Here’s what they recommend to keep your information safe:
•Avoid suspicious phishing email that appear to be from the IRS or other
companies; don’t click on the links. Instead go directly to their website.
•Beware of phishing scams asking you to update or verify your accounts.
•To avoid malware, don’t open attachments in emails unless you know
who sent it and what it contains.
•Download and install software only from websites you know and trust.
•Use security software to block pop-up ads.
•Ensure your family understands safe online and computer habits.
Sources: irs.gov, cnn.com
Simplify Your Life: Direct deposit your tax refund
To choose a direct deposit, simply indicate the
following on the refund portion of your return:
•IHMVCU’s routing number 2711-8366-2
•Your IHMVCU account number
•Account type (savings or checking)
CHECK YOUR REFUND STATUS: Call
Tele-Tax at (800) 829-4477 or visit irs.gov.
5 | WINTER 2016 ihmvcu.org
Let’s be social.
Follow us on Facebook and Twitter for up-to-date
events and discounts, contests and more!
Facebook.com/myihmvcu
and Twitter.com/ihmvcu.
Want to be in the know? Sign up for our monthly
eNewsletter by visiting ihmvcu.org and clicking on
Email/Subscribe on the homepage.
Federally insured by NCUA | Equal Housing Lender | NMLS #463074 | ihmvcu.org
6 | WINTER 2016 ihmvcu.org