IN THIS ISSUE• Common Scams & What to do• CO-OPs• Tax Benefits of IRAs• Achieving Goals• Savings Rates

Spring is in the air and with it, a new found energy to refresh and organize.After a long winter it is always great to spend time spring cleaning, landscaping, and planning our home improvement projects - everything we need to get our house and yard in order. However, it’s important that we not only think about our homes when spring cleaning but also our financial house. Minnequa Works has many tools and services to help you re-energize and reorganize your financial future.

Identity theft and online account security are big threats these days and the bad guys are always coming up with new and creative ways to steal your money. The security of your money, and of your accounts, is our number one priority but we need your help. Never give out your account information. If you ever think you are a victim of a scam and your accounts may be compromised, notify the credit union immediately. Time is critical, and things need to happen quickly to prevent losing money. Also, it’s very important to check your credit report yearly, especially since the Experian data breach.

After all your spring cleaning is done, here comes summer vacation. We have great rates on vacation loans and you can even apply online. Be sure to download the CO-OP app so you can find a shared branch or surcharge free ATM no matter where you are. Also, please let us know if your summer plans have you going off the beaten path so out-of-the-area transactions on your cards don’t raise red flags.Happy spring cleaning!

PRESIDENTS MESSAGE

COMMON SCAMS & WHAT TO DOEMPLOYMENT SCAMEmployment scams take advantage of job seekers by collecting confidential information to use for identity theft, getting victims to cash fraudulent checks or wire or send money, or to get victims to pay for training or supplies.What to do:Before applying for a job online, especially work at home jobs, do your homework. Googling the company name plus “scam” or “rip-off” will give you some information on the company if it’s not legitimate. Visit the company’s website and if they don’t have one or it doesn’t have con-tact information, consider that a warning sign. Also, check out the company with the Better Business Bureau. Also, if any “hiring” company requires money up front, it’s a scam.

TELEPHONE SCAMSTelephone scammers try to trick you out of money or get access to your personal information. The callers often make false promises, such as opportunities to buy prod-ucts, invest your money, or receive free product trials. They may also offer you money through free grants and lotteries. Some scammers may even call with threats of jail, termination of services, or lawsuits if you don’t pay them.What to do:Scammers try to terrify you with startling news and threats. Legitimate companies and government agencies will NEVER call you demanding money or threatening jail time. No bill collectors, including the IRS, can send you to jail for not paying your bills. If you believe you are being scammed hang up immedi-ately and report the scam to the Federal Trade Commis-sion either online at www.ftccomplaintassistant.gov or by phone at 1-877-382-4357.

IRS IMPOSTER SCAMSIRS imposter scams occur when someone contacts you pretending to work for the IRS. The imposter may contact you by phone, email, mail, or even a text message. There are two common types of scams:• Tax collection - You receive a phone call or letter,

claiming that you owe taxes. They will demand that you pay the amount immediately often with a prepaid debit card or wire transfer. They may even threaten to arrest you if you don’t pay.

• Verification - You receive an email or text message that requires you to verify your personal information. The message often includes a hyperlink phrase “click here” or a button to a fraudulent form or website.

What to do:Contact the Treasury Inspector General for Tax Admin-istration (TIGTA) if you believe that an IRS imposter has contacted you. Report IRS imposter scams online at www.treasury.gov/tigta/contact_report_scam.shtml or by calling TIGTA at 1-800-366-4484. Forward any email messages that claim to be from the IRS to phishing@irs.gov.

LONELY HEART SCAMThe Lonely Heart scam involves someone purporting to have a romantic interest in the victim, who they met on a social media site. After gaining rapport, the fraudster asks the victim to send a small amount of money, perhaps for a child’s birthday gift. This tests the victims readiness. Eventually, a crisis occurs, like a medical emergency, and a larger amount of money is sought with the promise to pay it back quickly. The scammer will continue to “bleed” the victim until the scammer is exposed or the victim can’t send anymore money. What to do:The damage from this scam is not only financial but also psychological. The ramifications can be huge with victims experiencing PTSD and even attempting suicide. As with any offer, do your homework and don’t send money to someone you really don’t know. It’s been said that love is blind; but be sure to keep your eyes open for scammers!If you think you have been or are being scammed, send a complaint to the FBI at www.FBI.gov/contact-us. If you are looking for emotional support, try the Justice Depart-ment’s Directory of Crime Victim Services at ova.ncjrs.gov/findvictimservices/.

HOW TO AVOID BEING SCAMMED1. Keep all personal and financial information private

and protected until you are absolutely certain about someone’s trustworthiness.

2. Don’t lend money, credit card info, or personal possessions unless you are prepared for the risk.

3. When a suitor/scammer increases his or her demands, it’s a surefire sign you’re being set up.

Bottom line… No one is immune to being scammed. Listen to your instincts and pay attention to warning signs. If it seems to good to be true, it probably is.

See FBI Fraud Alert questions on the Community Board page to see if you are being scammed.

C O M M U N I T Y B O A R D

Fundraising Yard SaleSaturday, May 12, 2018

8:00 am - 2:00 pm

2nd Annual

All money raised from this event will be donated to the MWCU’s Helping Hands Fund which benefits

families in our community in their time of need.The sale will be held at 1527 E. Abriendo Ave.

For more information contact Connie or Melissa at 719-544-6928.

Take it home with you!

Instant Issue MasterCards Coming Soon!

Don’t wait by the mailbox for your Credit/

Debit Cards to arrive.

C O M M U N I T Y B O A R D

Taco Soup

PET OF THE QUARTER

Want to win a month of pet food and see your pet on our Community Board? It’s simple! 1. Sign up for e-Statements, Text Banking or our App.2. Send a creative photo of your pet to:

contests@mymwcu.com

Photos must be submitted by the 25th of each month. All submitted photos will be voted on by your friends at Minnequa Works. Winners will be notified by phone.

Congratulations to last quarter’s winner Ziggy, owned by the Rhodes family. By signing up for mobile bank-ing, they have won a $100 gift card to buy a months’ worth of pet food.

INGREDIENTS

• Brown ground beef and onions in large skillet; drain excess fat, then transfer to a slow cooker or stock pot. Add the beans, corn, tomatoes, green chiles, black & green olives, taco seasoning and ranch dressing mix.

• Cook in a slow cooker on low for 6-8 hours or simmer over low heat for about 1 hour in a pot on the stove.• To serve, place a few corn chips in each bowl and ladle soup over them. • Garnish with cheese, green onions, sour cream and jalapenos.

This recipe is courtesy of Melissa who is celebrating her 11th year at MWCU. “This is a favorite at my house. We like to change it up sometimes by using black beans and hominy. Last time I made, we served it with bread sticks. It was delicious!”

• 2 lbs. ground beef• 2 c. diced onions• Two 15 1/2 oz. cans pinto beans• 15 1/2 oz. can pink kidney beans• 15 1/4 oz. can corn, drained• 14 1/2 oz. can Mexican-style

stewed tomatoes • 14 1/2 oz. can diced tomatoes• 14 1/2 oz. can tomatoes w/chiles

• Two 4 1/2 oz. cans diced green chiles• 1 1/4 oz package taco seasoning• 1 oz. package ranch dressing mix• 4.6 oz. can sliced black olives, drained -

optional• 1/2 c. sliced green olives - optional• Corn chips for serving• Garnish with sour cream, grated cheese,

green onions and pickled jalapenos

CO-OP’s nearly 30,000 ATMs and 5,000+ Shared Branches means you have more direct, surcharge-free* access to your money than most traditional bank customers do.

CO-OP ATMS AND SHARED BRANCHES HAVE YOU COVERED

TAX BENEFITS OF OPENING AN IRA ACCOUNT

• Get a copy of your account history• Make loan payments• Withdraw money• Transfer funds

NEARLY 30,000 SURCHARGE-FREE ATMS. That’s more than most of the biggest banks. And it includes selected locations where you shop, like 7-Eleven, Circle K, Costco, Publix, Dunkin Donuts and Rite-Aid.

OVER 5,600 SHARED BRANCHES. Shared Branching is a national network of credit unions from all over the country that share facilities to give members thousands of convenient locations to perform financial transactions. With more than 5,600 Shared Branches worldwide you can:

• Make deposits • Cash checks …and more!

One of greatest advantages to saving for retirement is the tax benefits you get when investing in an IRA or other qualified retirement account. Most people know there are tax benefits to opening an IRA account, but few understand how many benefits there are, and how powerful they can be in the cause of saving money for retirement. Did you know there are at least five tax benefits to opening an IRA account?1. Annual Contribution Tax DeductionIf you don’t participate in an employer-sponsored retirement plan, you can contribute up to $5,500 per year to an IRA ($6,500 if you’re age 50+) and deduct the amount of the contribution from your income when you file your federal income tax return (usually state as well). You may also be able to make a tax-deductible contribution even if you participate in an employer-sponsored plan.2. Investment Earnings Tax DeferralWhether or not your IRA contribution is tax-deductible in the year it’s made, any earnings that accumulate in your account will be fully tax-deferred until they’re withdrawn. This can result in a significant improvement in the investment performance of your retirement portfolio.3. Lower Adjusted Gross Income (AGI)A tax-deductible IRA contribution lowers your adjusted gross income (AGI), which is used to calculate certain itemized tax deductions, as well as your tax rate.4. Tax-Deferred Investment Income Up to Age 70½Though most people are concerned primarily with taking IRA withdrawals when they retire, or as early as age 59 ½, the reality is that you don’t need to begin taking withdrawals until you turn 70 ½.This means that is if you retire at 65, you don’t need to begin

taking withdrawals from your IRA account. You can allow the money in the IRA to continue accumulating tax-deferred investment income right up to age 70½. 5. Additional Tax-Deferred Retirement SavingsAn IRA enables you to make additional retirement savings contributions, even if you’re covered by an employer-sponsored plan. You can contribute up to $5,500 (or $6,500 if you’re 50 or older) in addition to the funds you’re putting into your 401(k).You get the match from your employer (which is like getting free money), and are able to contribute your own savings to an IRA at the same time. This will have the effect of multiplying your retirement savings considerably. And even if your income exceeds the contribution limits, you can always make a nondeductible contribution that will still earn and accumulate tax-deferred investment income.IRAs have too many tax advantages to ever be without one. Even if you have a retirement plan through your employer, you should still have a IRA account that will enable you to take advantage of all of the additional tax benefits it provides. Having your IRA with your local credit union provides a convenient solution to your retirement planning. When you have your IRA at Minnequa Works, you’ll have someone to talk with Monday-Friday regarding your account and you’ll be able to make a withdrawal at any branch location. You can even monitor your IRA online from mymwcu.com’s online banking platform. For more information on IRAs and how to open one contact Laura Espinoza today.

This article is for information purposes only, and is not intended to provide financial or tax advice. Consult your financial and/or tax advisor before making changes to your retirement investments.

Download the CO-OP ATM & Shared Branching Mobile App to find ATMS and Shared Branches everywhere you go! Or visit co-opcreditunions.org/locator/ to find the closest ATM or Shared Branch to you.

SETTING & ACHIEVING GOALSGoals can be broadly classified into three categories: short-term goals (one year or less), mid-range goals (three - five years) and long-term goals (five or more years). When pursuing any type of goal, it’s important to make sure it’s realistic and compatible with your abilities and skill sets. For example, if you can’t sing or play an instrument, winning a Grammy should probably not be one of your goals. Where will you be in five, ten or even fifteen years from now? To achieve long-term goals you will need a solid founda-tion from your short and mid-range goals. Once you begin to achieve your short-term goals your mid-range goals will follow more easily and so on. Be specific about your goals. The reason most people don’t reach their goals is because they don’t define them. Setting specific goals will help you to evaluate your progress toward meeting it.

• Write down your long-term goals. From your long-term goals you can determine what your short-term and mid-range goals should be. Remember, you will do better tak-ing baby steps than one giant leap.

• Be precise and set dollar amounts, priorities and time frames for each goal.

• Make sure each goal is measurable. Take steps to free up extra cash towards your goals. Eat-ing out less often, canceling gym memberships that you don’t use, or downgrading your cable from a premium to a basic plan could easily free up $100 per month or more towards your goals. There are probably many areas where you can save a few bucks. Make a detailed list of how much you spend each month and see where you could afford to trim.Stick with it. Remember goal setting is an ongoing activity not just a means to an end. Build in reminders to help keep yourself on track and make regular time available to review your goals.Celebrate successes. When you’ve achieved a goal, small or large, take time to enjoy the satisfaction of having done so. Absorb the implications of the goal achievement, and observe the progress that you’ve made towards other goals.

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PAIDCOLO SPGS, COPERMIT NO. 1WWW.MYMWCU.COM

CALL US Service Center 719.544.6928 Toll Free 800.824.5078 TeleWorks 888.346.2733 Lost or stolen MasterCard® 800.824.5078 (during business hours) Lost or stolen MasterCard® 888.241.2510 (after business hours)

EMAIL US Help: memberservices@mymwcu.com Loan Services: loans@mymwcu.com

BRANCH LOCATIONSMAIN BRANCH1549 E. Abriendo Ave., Pueblo, CO 81004

EAGLERIDGE BRANCH4700 Eagleridge Cir., Pueblo, CO 81008

NEPCO BRANCH1010 Bonforte Blvd., Pueblo, CO 81001

HOURS: Lobby: Mon - Wed, Fri 8:30am - 5:00pm Thur 9:30am - 5:00pm Drive Up: Mon - Fri 8:00am - 6:00pm Sat 8:30am - 1:30pm

ROCKY MOUNTAIN BRANCH701 W. 8th St., Pueblo, CO 81003 HOURS: Lobby: Mon, Tues, Wed & Fri 8:30 am - 4:30 pm Thurs 9:30 am - 4:30 pm Drive Up: Mon - Fri 8:00am - 5:00pm

HOLIDAY CLOSURESMemorial Day: May 28, 2018Independence Day: July 4, 2018