It's time to celebrate! Mainstreet Credit Union turned 70 on March 3rd. We want to thank you, our members, for giving us your support. You made our growth and additions of products and services possible! Our Board of Directors and staff are proud to serve you every day. Whether you’ve been a member for seven days or 70 years, we appreciate you for trusting us to be your credit union.
70th ANNIVERSARY CERTIFICATE SPECIAL
Watch Your Money Grow!
Mainstreet is proud to offer a 70th Anniversary Share Certificate special for our members. Thank you for being part of our story.
This offer begins on April 17, 2023 and ends on May 20, 2023.
*70th Anniversary Certificate Special: APY (ANNUAL PERCENTAGE YIELD). Rates are effective as of April 17, 2023. The promotional certificate has a 14-month term with $500 minimum deposit. The 14-month term certificate has a maximum deposit amount of $250,000. Promotional 14-month certificate will mature into a 12-month certificate at then-current rate. Penalties may apply for early withdrawal. Fees could reduce earnings on these accounts. 70th Anniversary Certificate Special offer ends May 20, 2023. Advertised rate and APY are offered at Mainstreet Credit Union’s discretion and may end at any time. IRA Certificates, Business accounts and corporate entities are not eligible. Fixed and adjustable Certificate rates are not guaranteed until your Certificate is issued.
Federally Insured by NCUA
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As a thank you to our members, we would like to invite you to enter a drawing for two Sporting KC tickets.
This drawing has closed.
Our business services team has been loving meeting more members of our community during their Mainstreet Mingle Events! Mainstreet Mingle is our new networking group that is sponsored by our Business Services team. If you are a part of a local business and want to know more details about Mainstreet Mingle please contact mcusimo@mainstreetcu.org
The photo on the right shows Micaela Cusimano handing out a raffle prize to the lucky winner.
Business Loans Designed for Entrepreneurs Like You
Mainstreet's Business Services ensure your business is covered 24/7. Our accounts were created for members with a lot of responsibilities, but only a little time to make it all happen-That's when we step in to help.
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Avoiding Sales Calls
Tired of calls from strangers trying to sell you something? Bothered by shady characters offering deals that are too good to be true? You can’t eliminate unwanted calls completely, but you can reduce the number your receive.
Stay Safe. Be Informed.
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Sign up for the national “do not call” registry. It’s easy and it’s free! Call (888) 382-1222, TTY (866) 290-4326 from the phone number you want to register. Unfortunately, registering by phone may not work if you live in a residential complex that uses a PBX phone system. But you can also register online at https://www.donotcall.gov/. The “do not call” system will send a response to that address with a link that must be clicked on within 72 hours to complete the registration.
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Your registration will not expire. Telephone numbers on the registry will only be removed when they are disconnected and reassigned, or when the consumer chooses to remove a number from the registry. You can confirm that a number is on the registry and the registration date through the toll-free number or Web site. If your number changes or is disconnected, you’ll need to re-register. You can also take the phone number off the “do not call” registry anytime via the toll-free number or Web site.
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Some callers aren’t covered. Nonprofit groups, charities, political organizations, and survey companies don’t have to use the national “do not call” list. But when charities use professional fundraisers to call, they must honor your request not to call again.
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Some companies can still call you. Even if your number is on the registry, companies can call if: you purchased something from them or made a payment within the previous 18 months; you asked about a product or service or submitted an application in the past 3 months; or you have a “personal relationship” as a friend, relative or acquaintance. But you always have the right to tell them not to call again.
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Be careful what you sign. Companies can also call with your written permission, so look at contracts, order forms, contest entry forms, and other things you sign carefully to make sure you’re not agreeing to be called without realizing it. You can withdraw consent anytime by saying, “don’t call me again.”
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It may take a while to notice fewer calls. Telemarketers check the national “do not call” registry every 31 days, so it may take that long before your number is removed from their calling lists.
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If your number is on a state “do not call” list, it may also be on the national registry. Not all states have their own “do not call” lists, but some that do are transferring the numbers on their lists to the national registry, others aren’t. The “do not call” Web site has information about how specific state “do not call” laws relate to the national registry.
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If you don’t sign up for the national “do not call” registry, you still have rights. You can tell companies not to call you again on a case-by-case basis. Keep a record of their names and the dates of your requests.
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Enforce your rights. If telemarketers ignore the fact that your number is on the registry or your request not to call again, report them through the “do not call” toll-free number or Web site. If telemarketers violate your federal “do not call” rights you may file a claim for $500 per violation (the court can triple that amount if the company knowingly broke the law). Note their names and the dates of the calls.
Source: https://fraud.org/avoiding-sales-calls/
Jillian recently joined the Mainstreet team to enhance our financial literacy program for local schools in the community. Mainstreet Credit Union sponsors this programs so teachers are able to access age-specific curriculum and materials they need at no cost to them.
"Recently, I gave presentations to two middle school classes in Lawrence about Budgeting Basics and the 50/30/20 Rule. It's a great way to be involved in the community while also educating and setting these kids up for lifelong financial success!"
To learn more about our financial literacy program and Jillian's classroom presentations you can contact her at jmiller@mainstreetcu.org.
"Recently, I gave presentations to two middle school classes in Lawrence about Budgeting Basics and the 50/30/20 Rule. It's a great way to be involved in the community while also educating and setting these kids up for lifelong financial success!"
To learn more about our financial literacy program and Jillian's classroom presentations you can contact her at jmiller@mainstreetcu.org.
Amid the 1,650-page, $1.7 trillion omnibus spending legislation recently passed by Congress were several provisions affecting work-sponsored retirement plans and, to a lesser degree, IRAs. Dubbed the SECURE Act 2.0, the legislation is designed to improve the current and future state of retiree income in the United States.
What Does the Legislation Do?
The following is a brief summary of some of the most notable initiatives. All provisions take effect in 2024 unless otherwise noted.
- Later age for required minimum distributions (RMDs). SECURE 2.0 raises that age again to 73 beginning in 2023 and 75 in 2033.
- Reduction in the RMD excise tax. Current law requires those who fail to take their full RMD by the deadline to pay a tax of 50% of the amount not taken. The new law reduces that tax amount to 25% in 2023.
- No RMDs from Roth 401(k) accounts.
- Higher limits and looser restrictions on qualified charitable distributions from IRAs.
- Higher catch-up contributions.
- Roth matching contributions. The new law permits employer matches to be made to Roth accounts.
- Automatic enrollment and automatic saving increases. Beginning in 2025, the Act requires most new work-sponsored plans to automatically enroll employees with contribution levels between 3% and 10% of income.
- Emergency savings accounts. The legislation includes measures that permit employers to automatically enroll non-highly compensated workers into emergency savings accounts.
- Matching contributions for qualified student loan repayments.
- 529 rollovers to Roth IRAs.
- New exceptions to the 10% early-withdrawal penalty.
- Low- and moderate-income savers currently benefit from a tax credit of up to $1,000 ($2,000 for married couples filing jointly) for saving in a retirement account. Beginning in 2027, the credit is re-designated as a match that will generally be contributed directly into an individual's retirement account.
- More part-time employees can participate in retirement plans.
- Rules for lifetime income products in retirement plans.
- Retirement savings lost and found. The Act directs the Treasury to establish a searchable database for lost 401(k) plan accounts within two years after the date of the legislation's enactment.
- Military spouses. Small businesses that provide immediate enrollment and vesting to military spouses in an eligible retirement savings plan will qualify for new tax credits. This provision takes effect immediately.
Want more information? Contact your dedicated CFS* Financial Advisor today!
Mike Thornhill,
Financial Advisor
CUSO Financial Services, L.P.
mike.thornhill@cusonet.com
Ph: (913) 261-0327
Fax: (913)393-0646
©2023 Broadridge Advisor Solutions, Inc.
*Non-deposit investment products and services are offered through CUSO Financial Services, L..P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.
Learn more about how you can nominate a staff member for recognition at the Olathe Public Schools Foundation website, http://bit.ly/OPSFAwards.
Mainstreet hosted a donation drive to collect diapers and wipes for Growing Futures Early Education Center in March.
Annual Business Meeting
Date: April 26th
Time: 4-5 P.M.
Location: Johnson County Arts and Heritage Center
8788 Metcalf Ave, Overland Park, KS
RSVP by calling 913-599-1010 Ext: 290
The Reservation Line will close on April 24th.
No meal will be provided at this event. Lite refreshments will be available before the meeting.
2023 Shred Days
Saturday, October 14th
9 a.m. to noon, unless trucks are full
Shred It Facility / 10000 Lackman Rd. /Lenexa, KS 66219
This FREE service is available to every Mainstreet member. All types of dry paper are accepted. Please make sure your shred materials are clear of plastic, media tapes, corrugated cardboard, electric cords, electronics, lighters, and metal objects. Those items can potentially cause serious injury to volunteers and truck operators.
Please note: Times and locations are correct at this time and are subject to change. Always check the Announcements page on our website at www.mainstreetcu.org/announcements for updates.
Refer A Friend
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As a special perk for school employees and AdventHealth Associates and Preferred Partners, Mainstreet offers a $1000 signature loan with a 0% APR** with a 12 month term to be used for anything you need. Buy work supplies for your classroom, pay student loans, or take a dream vacation.
*One Main Perk loan (A 0% APR**, unsecured loan for up to $1000 with a term of 12 months) per calendar year per member. Proof of employment from AdventHealth, JCCC , or a school district is required. Automatic payment scheduled from a Mainstreet CU deposit account required. Cannot be combined with any other offer. Mainstreet reserves the right to terminate this program at its discretion. Federally Insured by NCUA.
**APR= Annual Percentage Rate. The Annual Percentage Rate applies to qualified individuals' creditworthiness at the time of offer.
**APR= Annual Percentage Rate. The Annual Percentage Rate applies to qualified individuals' creditworthiness at the time of offer.
Vital Statistics
As of February, 2023
Number of Members: 73,874
Assets: 627.1 Million