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The Journal Newsletter

The Journal Newsletter

 

Our New AltaOne CEO, Stephanie Sievers

Stephanie Sievers has been selected as the new President and CEO of our organization. Stephanie, was most recently the CEO of Star of Texas Credit Union in Austin, Texas and has served as the District 3, Class A Director for the Credit Union National Association (CUNA) among other extensive industry involvement.

Board Chair, Norman Alexander said, “The Board is excited to have Stephanie as the next leader of AltaOne Federal Credit Union. We believe that her industry knowledge, passion for the community and strategic background will benefit all stakeholders of AltaOne Federal Credit Union.” 

In looking forward to her tenure with the credit union, Ms. Sievers said, “AltaOne is a family and community focused credit union, founded to provide financial services to the military and civilian men and women who were working in the early years of China Lake’s history. I am excited to be part of the community and continue the legacy of service above self.”


A home refinance may:

  • Lower your monthly payments
  • Reduce the term of your loan
  • Get you cash out of your home's equity!
*Appraisal fees and other applicable fees are due at closing, and although no upfront appraisal costs are due before closing you are financially responsible for the nonrefundable appraisal fee after we have ordered this service even if the loan application is withdrawn or closing does not occur. Limited time offer. Some restrictions may apply. Financing available for qualified members.


Learn More and Apply!


AltaOne Online and Mobile Banking  

Did you know that AltaOne offers a multitude of services to you through online banking? Whether through the app, or on your browser, with the click of a button, you can:
  • Deposit Checks up to $2,500 - through mobile deposit 
  • Update your Contact Information
  • Set up Account Alerts
  • Register for eStatements
  • Pay Your Bills
  • Make loan payment - free of charge with External Account Transfers
 All these great services, and more, are available to you 24/7 and can be utilized at your convenience.

New Ways to Connect With Us!
-Coming Soon-

Would you still like to meet one-on-one with the AltaOne team, but you aren’t feeling well, or Covid and social anxiety might be preventing you from being able to come in person? We have good news for you! AltaOne will soon be offering the opportunity for you to meet by appointment with one of AltaOne’s amazing Member Service Specialists either in-person OR virtually, through Zoom! 

To better serve you, AltaOne’s hours of operations will be expanding over the next few months. For up- to- date information, branch hours, ATM locations and services available, please click one of the buttons below:
    

Your eSupport Team

Electronic Support Services (eSupport) is an essential department to the credit union. ATM, Debit and Credit Cards along with Online/Mobile Banking are used by members every day. eServices also manages our ATMs and Records Retention.

The team of five, led by Samantha Decker, works hard to ensure maintenance on cards is up to date and our Online/Mobile Banking is running smoothly. They research issues that may arise and work with our front line seamlessly, to correct errors, assist with declines and are problem solvers.

They have many systematic daily functions and processes to complete each day to properly maintain member accounts. In addition to the areas above, eServices handles our records. Paper items are scanned for archiving and electronic forms are stored securely.

eSupport is very passionate about supporting our frontline as they assist our members. 
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Five Steps to Prepare for a Big Purchase

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By GreenPath Financial Wellness 
 
A financial journey typically includes several twists and turns – such as understanding how to manage spending, build savings and control debt. There might be “speed bumps” in the form of unexpected changes in income. Along the way, you might also navigate milestone purchases such as financing a home or car. 

When considering a significant purchase, the destination is within reach when you steer through the following five financial steps. 




1. Look at your financial picture 

  • Start by considering what you can afford given your current income, expenses and other debt obligations. Get a handle on how much money comes into your household each month, and where the money goes. Make sure to consider your net income- what is available to you after taxes. 
  • When purchasing a home, a common rule of thumb is to spend about 30% of your monthly gross income on housing. That includes costs like mortgage principal and interest, property taxes, insurance and maintenance. 
  • For transportation costs, a general rule of thumb is to keep total monthly car costs at about 20% of monthly take-home pay.   
  • These guidelines set you up to understand how a big purchase fits into your overall financial picture. 

2. Check your credit score and report 

  • Checking your credit score and report is key when considering a big purchase like a home or car. Pull your credit report from AnnualCreditReport.com and follow the additional instructions to see your current credit score – which influences your cost of financing a home or car. The higher your score, the lower your interest rate and overall cost of borrowing should be. 
  • Check your report for accuracy.  Resolving errors or incorrect information often helps increase your credit score, giving you more attractive financing options. If the report is inaccurate, file a dispute with the credit bureau.  Make sure to check all three bureaus, as sometimes one has information that another does not. 

3. Figure out financing 

  • Before you purchase your home, give yourself enough time to explore mortgage options including types of mortgages, terms, fees, interest rates and other information.  Consider getting a preapproval or prequalification letter from a lender, especially in a competitive market with low housing inventory. 
  • When looking to finance a car, take inventory of the most competitive loans offered by the dealership, credit union, bank or other lender.  
  • Make sure to use trusted, unbiased information sources, rather than depending upon advice from someone who might benefit from your choice. 
  • Check the fine print- is there a pre-payment penalty if you pay your loan off earlier than expected?

4. Plan the purchase 

  • A purchase plan involves understanding when to pull the trigger. Do you have enough in savings to provide a good down payment on a home or car?  
  • Build your team.  Have you taken the time to find a real estate professional you can trust to look out for your best interests? Ask friends or family for referrals.  
  • For a car purchase, do you feel the dealership is able to provide advice and guidance?  Have you taken the time to research vehicle make and model from a reputable source of information? 
  • This is also the time to get your documentation in order, like proof of employment, insurance or other financial information. 

5. Make the deposit  

  • Finally, get ready to make an earnest money deposit in the case of a home purchase, which indicates you are a serious buyer.  Generally, earnest money deposits range from 1% to 2% of a home’s purchase price and are only refundable under specific circumstances. 
  • For a new car purchase, deposits typically total about $500 once you agree to the vehicle price in writing.  Understand whether the deposit is refundable if you change your mind about the purchase.
The Journey Ahead
While not an exhaustive list, these steps help prepare for the financial road ahead.   
As you travel along your financial journey, take advantage of financial counseling and guidance provided by the trusted national nonprofit GreenPath Financial Wellness. 
This article is shared by our partners at GreenPath Financial Wellness, a trusted national non-profit. 
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Skip-A-Pay Gives Big!

Our Skip-A-Pay program allows you to skip up to two monthly payments in a 12 month period on certain loans. Those payments are then added to the end of your loan term. This program does not impact your credit rating. There is a small fee charged for this service, however the skip-a-pay fees then directly benefit local charities, which make this program a win-win! 
 
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S.O.S. Dog Rescue receives a check from Skip-A-Pay. Ridgecrest Animal Shelter poses with their Skip-A-Pay donation.

Learn More About Skip-A-Pay.
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Corinna Korpi is the manager of our Bishop Branch located in northern Inyo County. Having been with AltaOne for 13 years, Corinna enjoys helping her teammates and our membership. Corinna shared, “It truly brings me great pleasure to know that I’m able to help someone achieve something they’ve wanted to accomplish, whether it be in the financial world or in their career. It’s the reason I enjoy coming to work each day—I know that each day I am helping someone achieve their goals.”

Along with managing the Bishop Branch, Corinna is very involved in the Inyo County community. She currently serves on the Northern Inyo Hospital Foundation board, the Tri-Counties Fairgrounds board, the Bishop Area Chamber of Commerce board and most recently the local American Legion board. Through these organizations she helps support Mule Days, the Tri-County Fair, California High School Rodeo, fishing derbies, golf tournaments and various fundraising activities. 

Corinna feels being involved in the community is important.  “I find it rewarding to be part of like-minded people who are committed to making the community a better place for everyone to enjoy.  I have been fortunate to serve on many local organization’s boards and to be part of bringing people together in the Owens Valley.  I often think of the proverb, ‘It takes a village…’.  This community achieves great things with so little.  It’s a beautiful thing to witness and be a part of.”

When asked what she does in her spare time, Corinna exclaimed “I absolutely love the outdoors! I would take a day on the water or on the trail over a day of shopping anytime!” She enjoys hiking, swimming, paddle boarding, golfing, and fishing.  “If it involves me being outside, sign me up! I am lucky enough to live in the Eastern Sierra, so I can do these things often.”, she shared. 

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