wecu news
Filing your taxes:
When, why & how to get the help
you need.
For many Americans the process of filing income tax returns is not a favorite annual event.
A common reason people put the task off is because they know they will owe money - and
can’t afford to pay. Yet not filing or filing late comes with some pretty big repercussions.
If you do owe a big tax bill, don’t despair - the government wants to make it easy for you to
pay. Most people are able to arrange for an installment program, where the amount owed is
spread out over time. You may even be able to obtain an offer in compromise (settling for
less than the amount owed). But remember, you have to file to be eligible for either option.
Another common reason for filing tax returns late or not at all is that it can be a grueling
and confusing procedure. However, many people can take advantage of free tax return assistance programs. Here are some available options:
Volunteer Income Tax Assistance Program (VITA)
If you make under $35,000, the IRS has arranged for you to receive free tax preparation assistance. Specially trained volunteers set up shop in convenient locations such as libraries,
schools, and shopping centers, and can help you prepare basic tax returns. Call 1-800-8291040 for the location of your nearest VITA site.
www.wecu.com
Whatcom Educational
Credit Union
Tax Counseling for the Elderly (TCE)
Over the age of 60? Then you are eligible for the IRS’s TCE Program. For more information
on TCE, call 1-800-829-1040.
January
2015
AARP Tax-Aide
Whether you are a senior citizen or are a low-to-middle income earner, you can take advantage of AARP’s Tax-Aide counseling program (part of the TCE Program). During tax time,
trained and certified volunteers help prepare taxes at over 9,000 sites across America. To
locate the site closest to you, call 1-888-227-7669.
The IRS
The IRS wants to help. Really. They offer free, individualized advice by computer, telephone,
and in-person to all taxpayers - with no income or age restrictions. IRS employees help you
obtain forms and publications and can answer a wide range of tax questions. Assistance is
available by calling 800-829-1040.
we c u news & not e s
w ec u new s & not es
Employee of the Fourth Quarter!
The WECU® Annual Meeting
Congratulations to EFT Department Manager Dain Stevens who
has been selected as the Employee
of the Fourth Quarter for 2014.
Dain was cited as someone who
“works every day, all day, to make
WECU® a better place for members
and employees. He genuinely cares
for fellow employees, WECU® members and products.
He has the ‘YES!’ attitude that makes coming to work a
joy!” Others described Dain as “always clear, logical,
and friendly when communicating with individuals
or in a larger group setting” and as someone who is
“leading WECU® into a period of growth with Mobile
Deposit Capture.”
Are you ready for a great night with WECU®? At this year’s
annual meeting we will hold the annual election of board
and Supervisory Committee members, review WECU®’s
2014 financials, and enjoy great food, great friends and prizes!
WECU® 2016 Calendar Contest
We will begin accepting reservations at 9 am Tuesday, January
6th. Reservations will not be accepted prior to that time. If reservations for the dinner portion of the meeting are not filled on
Tuesday, we will close reservations at 5pm and reopen reservations
at 9am the following morning. The cost of the annual meeting
dinner will be $3.00. This year we will accept reservations in
person at our branches, through our call center at 676-1168
and on the website through our annual meeting reservation
form –located on the main page of www.wecu.com (please do
not make reservations using our InfoGuy service).
Attention all member photographers, we want your
photos of beautiful Whatcom County! Thirteen lucky
photographers will have their work featured in the
2016 WECU® Calendar. Please note that photo contest
winners will not receive monetary compensation for
use of their photos.
The rules:
n In order to submit a photo, you must be a
WECU® member.
n Each person may submit up to three (3) photos.
n Photos must be of scenes in Whatcom County
and should focus on nature and landscapes rather
than people.
n Only tif, eps, or jpg formats will be accepted.
n Photos must measure 12.75” wide by 9.75” high
and be 300dpi or higher resolutions. Photos not
at this size and resolution will not be considered.
Please note that photo height has changed this year.
n 2015 Calendar Contest winners are not eligible to
submit photos until next year’s contest.
n All photos must be received by Wednesday,
April 8, 2015.
To submit your photos, please email them to Amanda
Drake at [email protected] or drop off a CD at
your nearest branch - be sure to include your name, contact
information, and the titles of your photographs. We look
forward to seeing your great photos of Whatcom County!
When: Thursday, January 22, 2015. Seating will be available
beginning at 5pm. Dinner will be served at 6pm and the business meeting will follow.
Where: Best Western Lakeway Inn in Bellingham
Who May Attend: WECU® members who have had accounts
for over 6 months. Because this is a business meeting, all those
attending must be WECU® members who are 18 or over.
Reservations Required: Space is limited to the first 500 people.
Non-members are not allowed to attend as guests, this is a
member-only event.
The business portion of our annual meeting does not require
an RSVP, and is open to all members 18 years of age and older.
Because this is a business meeting, no alcohol is allowed.
For information on this year’s election and candidates Harte
Bressler, Vincent Buys, Phil Isle, and Kristi Lewis Tyran, please
visit www.wecu.com/elections.
Menu Options:
Flat Iron Steak
Grilled King Salmon
Vegan Option - Hot Cranberry Quinoa Salad
Visa Rebate
WECU® credit card holders have been looking forward to
this all year long. If you have a WECU® Visa credit card
your 1% cash back rebate will post to your VISA account
this month. Thank you for choosing your WECU® Visa first!
Please keep in mind that while your 1% cash back reduces
your principle balance on your Visa loan account it does not
count toward your payment for the month.
social responsi bi l i t y
April 15th is on its way!
WECU® offers TurboTax to help you beat the deadline
and get your taxes done right. There are several benefits
to filing through TurboTax:
n Your
tax records are automatically retained online.
n Computer-generated calculations help prevent errors.
n The step-by-step guide makes it easy to file without forgetting any steps.
n Maximum refund guarantee!
Did you know that WECU® members get a discount
on TurboTax products? Visit www.wecu.com/turbotax
for more details.
Work Opportunities Fun Run
“You may never know what results come from your
action. But if you do nothing, there will be no result.”
- Mahatma Gandhi
WECU® staff and their family and friends continue
to take action to make a better community. Since
October 1st WECU® staff have taken part in volunteer
events supporting the Whatcom Humane Society, Arc
of Whatcom County, Rebound of Whatcom County,
Work Opportunities and the Arthritis Foundation.
(Work Opportunities Fun Run Pictured)
s oc i al r es pons i bi l i t y
NON-PROFIT OF THE MONTH
Free Tax Filing Assistance - AARP Tax Aide
AARPFoundationTax-Aidehelps low- to-moderate-income
taxpayers havemorediscretionaryincomefor everyday
essentials, suchas foodandhousing, byassistingwith
taxservices andensuringtheyreceiveapplicabletax
credits anddeductions. This freetaxpreparationserviceis
availabletotaxpayers withlowandmiddleincomes with
special attentiontothoseover 60years of age.
Not all volunteers areaccountants, but all areIRSCertified
andthegroupis madeupof engineers, insuranceanalysts,
payroll specialists andbusiness executives. In2014AARP
Tax-Aidcompletedover 2,200returns inWhatcomCounty.
RecentlyAARP’s District Coordinator for WhatcomCounty,
CarltonNathon, wrotea BellinghamHeraldOp-Edonhighcost paidtaxpreparers. It toldthestoryof anindividual
witha simpletaxreturnwhowent toa national taxservices business. Thetaxreturnstatedhewas due$983. The
individual cametoanAARPsiteafter onlyreceiving$676.
After someinvestigationAARPdiscoveredtheindividual
paid$307for preparationona simpletaxreturn.
Bewaryof thecost of paidpreparers’ offers of ‘instant’ or
‘quick’ returns. AARPoffers just onecheaper alternative.
AARPwill haveservices at BellinghamPublicLibrary, Blaine
Senior Center, FerndalePublicLibrary, FerndaleSenior
Center andLyndenLibrary. Contact theselocations, or
WECU® will be closed Monday, January
19th for Martin Luther King Jr. Day.
check http://www.whatcomabc.org/taxes for updates on
dates andtimes.
seminars
anti-fraud tips
To Avoid Scammers, Be Wary of the Phone
While scams keep changing, the targets stay the same.
Seniors continue to be the marks of a variety of low-risk
crimes that prey on their sense of duty and exploit their
fear of cognitive loss.
The Federal Trade Commission’s Bureau of Consumer
Protection logged 1.1 million consumer fraud complaints in 2013; 47% of the victims were age 50 or older,
with a median payout of $400 per complaint.
Retirees make ripe targets because they have access to
cash via retirement savings and equity in their homes.
Here is what to do to avoid being targeted:
the landline. The most common way scammers make contact is by phone, which accounts for
40% of all fraud contacts, up from 30% two years
ago. One reason seniors are targeted is because they
still use landlines—so they’re easy to find through
commercially sold phone lists—and they often answer their phones.
Details: These free seminars will be presented in the WECU®
Education Center at 511 East Holly St. in Bellingham, andare open
to the public. Reservations are required. RSVP online at www.
wecu.com or call our reservation line at 676.1168, ext. 7000.
Debt Management
Wednesday, February11th, 6:00- 8:00pmSpecial 2-hour Seminar!
Is money stressing you out? It will continue to do so
until you take control and live within your means! Do
you want to pay down debt, build a savings or save for
a vacation? Are you doing okay but think you could
do better? You need to plan and you need to write it
down. During this seminar WECU®’s Certified Credit
Union Financial Counselor Reid Frederick will discuss
budgeting strategies, money saving tips, debt repayment strategies, and community resources.
n Ditch
n Sign
up for AARP’s Fraud Watch Network alerts
(http://www.aarp.org/money/scams-fraud/fraudwatch-network/) and check its online map. This
will help you keep up-to-date on the scams happening where you live, as scammers frequently
change the areas they’re targeting.
n Call
the U.S. Senate Special Committee on Aging
Fraud Hotline. If you suspect someone is a victim
of fraud, call the hotline (855-303-9470) where
fraud investigators can offer advice about how to
proceed.
n Hang
up. Whether it’s a purported relative imploring you to send money right away or a sweepstakes
requiring you to pay taxes in advance—two common scams—say you’ll call back. Then research the
situation. If the caller is putting pressure on you to
pay immediately, it’s a scam.
Understanding Loans & Credit
Wednesday, March 18th, 6:00 - 7:30pm
WECU®’s CUNA Certified Credit Union Financial
Counselor Reid Frederick will cover a multitude of
topics such as: the cost of credit, how to establish good
credit, repair credit and where to pull your free credit
report. You’ll leave with a better understanding of loans
and their corresponding interest rates. Resources for
continued learning and credit improvement will be
provided during the seminar; the content is appropriate for ages 16+.
First Time Homebuyers
Wednesday, April 22nd, 6:00 - 7:30pm
Looking to purchase a primary residence or your first
home? Staff from WECU®’s Real Estate Department
will present an overview of the home buying process.
The presentation will include the mortgage loan process, down payments, closing costs, titles and appraisals.
This seminar is geared towards the needs of first time
homebuyers but is also a great refresher for anyone
who is interested.
Our mission: Provide the means for members to achieve their dreams.
Federally insured by NCUA.