Member Newsletter, Spring 2020
I sit and write this communication as the war against the outbreak of COVID-19 is in full swing. In order to meet the newsletter deadline far in advance, I had to guess what the world would be like in early April. Based on the circumstances thus far, I can only say that things will be different and hopefully getting better each and every day. I hope that you and your family are healthy and safe.

After finishing another great year in 2019 just three months ago, American Eagle’s membership and communities are suddenly thrust into another world where normal activities and freedoms need to be curtailed to protect everyone from COVID-19. Like other financial providers, we are classified as an “essential business” by Governor Ned Lamont. We are open and doing the best we can to provide what you need. Most important is the safety and wellness of our workforce and you, our valued members. We consolidated our branch network temporarily to address healthy social distancing and to deal with staffing and support concerns. We continue to reposition our team in branches, in the call centers, and in our lending areas to provide uninterrupted service as best as we can.

I want to remind you that the National Credit Union Administration (NCUA), through the National Credit Union Share Insurance Fund, provides insurance coverage for your Credit Union deposits -- backed by the full faith and credit of the United States government. The credit union insurance fund works similarly to the Federal Deposit Insurance Corporation (FDIC) that is available in banks. 

We are a well-capitalized credit union with appropriate risk measures, investment restraints, and expense control to survive this latest challenge. We, like most other credit unions, got through the housing crisis and Great Recession between 2008-2010 and will come out of this again, with your support and patronage. 

Why do I speak with such confidence? Because of our people, the folks you interact with every day. Throughout this emergency, they are all putting themselves on the line to be sure you get what you need, going above and beyond in many ways to support you in achieving your financial goals. 
We are on track this year to upgrade our online and mobile banking experiences, providing a much-improved and contemporary look and feel to enhance your experience. We also continue work to move our East Hartford, Main Street branch down the block to a new property at the intersection of Main and Ensign streets. We expect this branch to open in the fall.  

Thank you again for your patience during a very troubling time. If you need help for circumstances due to the COVID-19 outbreak, please let us know. We may be able to offer a solution to help you maintain stability and financial security until things calm down. I don’t say “return to normal” as I think every big challenge, like the COVID-19 outbreak, can and does lead to some real belief and behavior changes in many of us. Your active membership and recommendation to your family and friends will continue to fuel our growth and prosperity throughout 2020 and beyond.
COVID-19 Scams - Don't Be a Victim
As COVID-19 continues to make headlines, consumer advocates are warning of several different types of COVID-19 scams. Any time a crisis emerges, so do the con artists, and scammers are ready to cash in on anxiety and fear you may have. They are setting up websites to sell bogus products and using fake emails, texts, phone calls, and social media posts as a ruse to take your money and/or get your personal information to steal your identity.
 
The emails and posts may be promoting awareness and prevention tips as well as fake information about cases in your neighborhood. They also may be asking you to donate to victims, offering advice on unproven treatments that contain malicious email attachments.
 
Here are some tips to help you keep the scammers at bay:
  • Don’t click on links from sources you don’t know. It could download a virus onto your computer or device. Make sure the anti-malware and anti-virus software on your computer is up to date. They are trying to get your personal information by prompting you to download malicious software.

 
  • Ignore online offers for vaccinations. If you see ads touting prevention, treatment, or cure claims for COVID-19, ask yourself: If there’s been a medical breakthrough, would you be hearing about it for the first time through an ad or sales pitch? Don't fall for it. Treatments for COVID-19 are still being developed. There are no government-approved vaccines or drugs to prevent it at this time.
 
  • Do your homework when it comes to donations, whether it is through charities or crowdfunding sites. Don’t let anyone rush you into making a donation. If someone requests a donation in cash, by gift card, or by wiring money, don’t do it!
 
  • Be alert to investment opportunities. The U.S. Securities and Exchange Commission (SEC) is warning people about online promotions, including on social media, claiming that the products or services of publicly traded companies can prevent, detect, or cure COVID-19 and that the stock of these companies will dramatically increase in value as a result. Source:

  • Stimulus funding. Beware of telephone calls from anyone claiming to be from the government asking for bank account information in order to provide stimulus funding.
2019 Annual Report Available Online
The American Eagle Financial Credit Union 2019 Annual Report is available to view and download on the Credit Union website.


The American Eagle Financial Credit Union Annual Membership Meeting, scheduled for March 26, 2020, will be rescheduled to a later date.
American Eagle Soaring in the Community
CU Donates $10,000 to Help Feed Children During School Shutdown
American Eagle Financial Credit Union made donations of $5,000 each to  Foodshare  in Bloomfield and  Connecticut Food Bank  in Wallingford. The funds will be directed to help provide meals to children in Hartford, Tolland, and New Haven counties who have been displaced from school due to COVID-19.

“These unprecedented times call for responsible, effective actions to help sustain our communities, especially our children who can no longer rely on nutritional meals during the week due to the mandatory shutdown of all schools in Connecticut,” said Dean Marchessault, President and Chief Executive Officer of American Eagle Financial Credit Union. “We know that providing Foodshare and the Connecticut Food Bank with critical financial support will, in turn, help them serve families in Hartford and New Haven during this difficult period.”

“We are very humbled by American Eagle’s generosity. We thank their entire team for their support in helping us serve our community,” said Jason Jakubowski, President & CEO, Foodshare.

“We are very grateful for this gift and we share American Eagle’s concern for our neighbors in need at this critical time,” said Beverly Catchpole, Senior Director of Development of Connecticut Food Bank.
CU Awards $4,000 in Grants to Urban Leagues for Black History Month
American Eagle awarded grants of $2,000 each from its Donor-advised Fund at the Hartford Foundation for Public Giving to the Urban League of Greater Hartford and the Urban League of Southern Connecticut. The donations were made to each organization during February in celebration of Black History Month.

The Urban League is a community-based, not-for-profit that provides programs and services in the areas of Adult Education, Workforce Development and Training, Economic Empowerment, and Health and Wellness.
CREC Impact Academy Students Get Lesson in Personal Finance
Students from CREC Impact Academy High School in Hartford visited American Eagle’s East Hartford headquarters for a lesson on financial education presented by Branch Managers, Shanee Hoyt (Avon) and Jahmeca Galloza (North Haven).

The Impact Academy engages students in a welcoming and flexible learning community that prioritizes positive relationships, experiential learning, and community connections.
Employees Participate in United Way Read Across America Day
Employees of American Eagle Financial Credit Union read the book "All Are Welcome" to students at the Joseph Goodwin Elementary School in East Hartford. The volunteers were part of the annual Read Across America Day on March 2, 2020, organized by the United Way to celebrate diversity and yearlong reading by children.
Credit Union Awards $1,000 Scholarship to Goodwin University Student Jay Potter
Joseph "Jay" Potter of Dayville, Connecticut, is the 2020 recipient of the American Eagle Financial Credit Union Scholarship at Goodwin University. Jay will graduate from Goodwin with a Bachelor of Arts Degree in Business Administration.
Employees Teach Junior Achievement Class in Hartford
Employees from American Eagle Financial Credit Union volunteered for Junior Achievement at the Milner Middle School in Hartford. The volunteers taught seventh graders the JA It’s My Future program, which introduces students to topics to prepare them for the working world. Subjects include building a personal brand, career exploration, resume building, applying and interviewing for a job, and interpersonal skills.
Employees Donate Nearly $5,000 to Charity in First Quarter of 2020
American Eagle employees collectively donated $4,963 during the first quarter of 2020 from weekly Payroll Deduction contributions.

The Credit Union Legislative Action Council (CULAC) received $2,475 as selected by the employee "Eagle Team" from "Jeans Fridays."

The United Way of Central and Northeastern Connecticut received $2,488 from ongoing contributions during the first quarter.
Visa Balance Transfer Promotion
0% Introductory APR for 12 Months
Help reduce monthly expenses by transferring balances from higher rate credit cards.

Get a 0% Introductory Annual Percentage Rate (APR) for 12 months on balance transfers made from January 1, 2020, through May 31, 2020.

Memorial Day Holiday Closing
All offices of American Eagle Financial Credit Union will be CLOSED on Monday, May 25, 2020, in observance of Memorial Day.

Access your accounts 24/7 with online banking, mobile banking, and at thousands of Allpoint and SUM ATMs across the U.S. Take the Credit Union with you wherever you go. We're never more than a call or click away.

American Eagle Financial Credit Union
860.568.2020 | 800.842.0145 | americaneagle.org
American Eagle Financial Credit Union will never solicit confidential information about your accounts through e-mail. If you receive a suspicious e-mail asking you to open an attachment or click on a link to provide personal information, do not take action.  See privacy and security policy. Federally Insured by NCUA.