Is Your Business Properly Protected? Without proper planning, your business may die with you or the loss of a business partner. And, without proper liquidity your business may face severe problems such as: • Liquidation below fair market value of equipment and inventory • Uncollected accounts receivable • Family control of the business may be lost • Lost intangibles – customer base, location and reputation A Business Continuation Plan is the Solution A properly designed plan may include a Buy-Sell Agreement that can provide cash to buy-out a deceased owner’s share of the business. Such an agreement will: • Allow the business to retain knowledgeable and experienced ownership, as well as key employees • Reduce pressure to liquidate other assets to pay estate settlement costs • Minimize potential disputes with IRS over valuation of the business How to Fund a Buy-Out A Buy-Sell Agreement, written while business owners are alive, can be funded by life insurance. The death benefit of the policy can provide the funds necessary for surviving owners to retain control, by buying out the deceased owner’s interest in the business. Would you like to know more? FCU has licensed life insurance agents located in each branch. They can provide you with information on how life insurance can protect your business. Call or visit your local FCU office today for more information. You can also learn more online at flcu.org . FCU Celebrated Back-to-School Week! Florida Credit Union was founded in 1954 as the Alachua County Teacher’s Credit Union, so we’ve been a part of the school system for a very long time. While we’ve grown a lot since then, it’s important to us as an institution to provide quality financial opportunities to teachers and staff each year. That’s why annually, during Teacher Planning Week, we dedicate our staff and time to visiting schools across all of the communities we serve. During our Back-To-School events, we provide a meal, goodies, and awesome offers that support our educators – just as they support so many children in their classrooms. This year, between August 6-10th, we hosted 85 events across north and central Florida. FCU is honored to have the opportunity to provide great products and services to the teachers and staff in our neighborhoods, and to hopefully build relationships that support their financial success. Wishing all our schools a great year!