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rewardWe have a great offer for our TCFU Members! Start making room in your wallet for more rewards because reward season is here. Members get a $100 cash reward for every new line activated with Sprint®, now with unlimited lines. Plus, Sprint is giving away a $50,000 prize to one winner per month in April, May, and June. Enter today with no strings attached! Here’s how to get cash rewards for every new line you activate with Sprint:

  • Open an account or add a new line to your existing account.
  • Mention that you’re a credit union member during this process.
  • Register your new number at LoveMyCreditUnion.org/Sweeps19.

Cash rewards will be deposited directly into your credit union account within six to eight weeks.

Already a Sprint customer? Register now to receive a $100 loyalty cash reward every year starting one year after registration. Visit LoveMyCreditUnion.org/Sweeps19 to learn more and to enter to be one of the three $50,000 winners. To become a member of the credit union, contact us!

The Family Credit Union annual meeting was held on Thursday, April 18th, 2019. On the agenda for discussion was the results of the year and the growth of the credit union. Some positions on the Board of Directors were up for reelection as well.

Results of the Meetingmeeting

At the meeting it was reported that The Family Credit Union ended 2018 with assets over $155 million. Loans grew by 8.43% and deposits by 1%. Overall, we saw a good amount of growth. Net income was $1,319,557. Those reelected to the Board of Directors include:

  • Ron Diekmann
  • Dave Nichols
  • Jim Bickford

We look forward to another year with all of our wonderful members. Contact us today about becoming a member or about loans, retirement planning, college scholarships, and more!

By Gregg Early from Geezeo, a Fiserv company

February may be the shortest month of the year, but it has more than its share of ‘surprise’ holidays. What I mean, are holidays like Valentine’s Day and President’s Day, that kind of sneak up on you.

The problem is, they also sneak up on your members as well. A long weekend and a romantic holiday can cost some serious money, just 6 weeks out from Christmas.

And this year, the government shutdown also added to a lot of people’s financial surprises.

The fact is, consumers tend to not to take them into consideration and it’s why many consumers end up using their savings as their emergency fund. Or worse, they drop these surprises on their credit cards and hope to pay them down when they get around to it.

In most people’s case, “emergencies” like these make saving hard.

According to personal finance site Bankrate.com, 29% of consumers have more credit card debt than they do savings. That number has grown nearly 50% since the same question was asked last year.

It has also been reported that 60% of Americans don’t have $1000 cash on hand for an emergency room visit or a major car repair. While wages have been growing, “real” wages (accounting for inflation and cost of living) have declined 1.3% since 2017, according to salary comparison site Payscale.com.

That’s why 7 million vehicle owners in the US are 3 months behind on their car payments. And it’s a testament to the fact that while the economy is doing well, it doesn’t mean everyone in it is sharing those good times.

Credit Unions see this better than anyone. That’s why it’s important for CUs to reach out to their members and encourage them to put some funds aside every paycheck and build an emergency fund.

Ideally, it should be a separate savings account that members can add to for unexpected or unplanned for events. This emergency fund is a buffer between high-interest credit cards and tapping into savings.

During this time of year, this is a powerful message because most people spend their tax refunds on paying off this credit card debt or replenishing their depleted savings. But this year, refunds have been slowed by the government shutdown, and they’re also averaging almost 10% lower than last year.

Plus, many people see their tax refunds more as “fun money” than a way to build a long-term financial strategy, no matter how well-intentioned they were before the refund check arrived.

That’s why this is a great time to remind your members that having an emergency fund isn’t hard and makes a lot of sense. And there’s no better time to start it.

Setting up an emergency fund (i.e., a dedicated savings account that they can easily set up with you) is the first step and tell them how easy that is and how socking a little away every month, means the big and little unexpected things aren’t so daunting. Also, if you have a PFM, having them add it to your PFM can help them keep tabs on their savings and spending goals.

The name of the game is setting a little money aside over time, so it accumulates into something real and substantial. For example, the average spending on Valentine’s Day is $220 per person. Instead of sticking Valentine’s Day on a credit card, if members were socking away $50 a week – slightly more than $7 a day – since January, they would have Valentine’s Day covered without reaching for a credit card or moving over savings.

Setting up budgets and spending goals in their PFM is a great solution to help them do this. And they don’t have to itemize each event – keep it general at first, like Holidays, Car Maintenance, etc. Just putting in a small amount over time makes a big difference.

If they’re moving toward budgeting their money more strategically, they can truly enjoy the good things in life and take a lot of the stress out of the bad ones.

We get it, tax season can be very stressful. That’s why we have a special reduced 1.990% APR rate on balance transfers made on or between March 14 and May 31, 2019. For twelve months from transaction post date, you will have this reduced rate. After 12 months any remaining balance from this promotion will return to the current purchase APR of your usual card rate. In other words, you have a whole year to pay back the balance transfer. We want to make things a bit easier for you this tax season.

Credit Accounts with the Family Credit Union

If you are looking to open a credit card with us, you can look at our different options to see which one might work best for you. We have our rewards credit card or our mastercard basic. With your credit account you can take advantage of this special. Contact us today to learn more about this special, or about opening a new credit account to take advantage of this rate. We can answer any questions you might have. Give us a call!

We are having a free trust seminar hosted by our financial partner, First Community Trust, on February 13th. This is open to all of our members and you are encourage to attend! You will be able to get some great information on a variety of financial services including retirement planning and asset management. We hope to see you there. You can give us a call to learn more about where and when this event will take place. We would be happy to answer any questions you have.

trust

More about First Community Trust

Our partner, First Community Trust allows us to offer retirement and trust services to our credit union members. The professionals at First Community Trust have the experience to provide you with the best asset management services. They can provide you with estimate administration, retirement planning, 401(k) and IRA rollovers, trust services, and investment management. You can be more informed and ready to take on the future with help from our financial partner, First Community Trust.

The great thing about First Community Trust is that there is no obligation when you use their free services. They believe in a non-heavy sales approach, so you do not need to feel pressured when you approach them for advice or help. Outside of the free trust seminar, you can also meet with their representatives at a place that is comfortable for you. We understand that our members are all ages and abilities, so we want to make sure we can provide everyone with great service. Contact us today to make your appointment or to learn more about our free trust seminar! We definitely recommend you attend the free trust seminar if you are looking to learn more about asset management or retirement planning. It will be greatly informative to everyone who attends.

As a local credit union our goal is to help our community succeed. We believe in nurturing personal and educational growth, and that is why we offer scholarships for students in the Quad City area. For members of our credit union and their family members, we offer a variety of scholarships. As of right now we have three different scholarships available. You can apply for these scholarships up to their deadline in April.

Kevin Post Memorial Scholarship

The Kevin Post Memorial Scholarship is given to one credit union member or a family member entering or attending an accredited University or College. The deadline is April 1st and the gift is paid July 2nd. Submit your application by email or to any Family Credit Union office. As long as you are attending a University or College, you can apply for this scholarship. There’s no reason not to apply for this scholarship! Apply with the application here.

Keith Ruefer Memorial Scholarship

The Keith Ruefer Memorial Scholarship is given to one of our members or their family member entering or attending the University of Iowa. The deadline is April 1st and the gift is paid July 2nd. You can submit the application through email or to any Family Credit Union office. All you need for this scholarship is basic information about yourself and the letter of acceptance or proof of attendance. You can access the application for this scholarship here.

The Family Scholarship for Hispanic Students

Our last scholarship we are offering is the Family Scholarship for Hispanic Students. The Family Scholarship is given to one credit union member or family member of Hispanic heritage entering or attending an accredited University or College. The deadline is April 1st and the gift is paid July 2nd. Submit your application via email or to any Family Credit Union office. You can access the application here.

More About Our Scholarshipsscholarship

The awards of these scholarships are based on:

  • Need
  • Academics
  • Extracurricular Activities

If you are applying for these scholarships, please make sure to get them in by their deadlines. If you have questions or want to know more about the scholarships, do not hesitate to give us a call. We would be happy to help in any way we can.

 

Stay Healthy with a Health Savings Account

It’s the beginning of a new year, and it’s a great time to start thinking about a health savings account. A health savings account, also known as an “HSA“, goes hand-in-hand with a high deductible health plan (HDHP). This savings account is NOT an insurance plan, and it could lower your health care costs through its ability to pay for day-to-day eligible medical expenses. This tax-advantaged plan works like a normal savings account; withdraw cash and transfer money to a checking account so you can pay for medical expenses.

Works for You for the Rest of Your Life

health savings accountCreate an HSA today to protect your family and yourself from overwhelming health care costs. It gives you more freedom of choice when selecting a health care plan. Flexibility can be useful when looking at plans. It also moves with you, no matter what job you have! This option is also great for anyone who wants to plan ahead for retirement, as well. The HSA can be used even after you retire! The health savings account will continue to grow, tax-free, even if you don’t pay into it regularly. There are a number of benefits to an HSA including:

  • No Minimum Balance
  • Monthly Dividends
  • Tax Savings (consult your tax advisor for specifics)
  • Balances will rollover from year to year
  • A year-end statement for tax purposes

If you would like to learn more about a health savings account, or if you are interested in opening one with us here at The Family Credit Union, just give us a call. A representative will help answer your questions or begin the process of opening one for you! We hope to hear from you soon.

It’s the Beginning of a New Yearnew years resolution

Now that 2019 is here, everyone is making New Years resolutions. Have you made one? If you haven’t, we might have a few suggestions for you. Maybe your resolution could be to go back to school, get a car, buy a house, go on a vacation, or simply work towards paying off your debt. There’s something in common with all of these; we can help you achieve each of them. From student loans and vehicle loans to debt consolidation and savings accounts, we have the tools to help you work towards your New Years resolution.

Going Back to School?

College isn’t just a time investment, it’s a financial investment as well. We can help you along. We offer private student loans for the costs that aren’t covered by financial aid. These private loans come with a variety of benefits including no prepayment penalties, interest rate reductions for certain loan borrowers, and lower rates when signing as a creditworthy borrower or cosigning with a creditworthy borrower. These loans are a great option for someone looking to further their education in 2019.

Getting a Car?

Your resolution this year could be to work towards getting a new car. We can help you with a vehicle loan. The Family Credit Union has vehicle loans available for new or used autos, boats, motorcycles, or recreation vehicles. So even if it’s not a car, but a boat or motorcycle, we are here to help. Qualified pre-approvals make it easy for you to get a better arrangement with the dealer knowing you have the cash up front. We’ll help you achieve your goal. Just give us a call today and tell us how we can help you.

saving money on vacation

Summertime is finally here which means it’s time for vacation! Traveling can be expensive. Those transportation costs, hotels, and restaurant meals begin to quickly add. According to CreditDonkey, the average vacation costs $1,145 per person. The Family Credit Union has created a list to help you save money on your vacation this summer.

1. Look for Free Activities

Before going on vacation, take time to do some research on your destination. Often times you can find many free activities to do while you’re there. Whether it be a farmers market or listening to free live music outside, these activities are entertaining and save you money.

2. Get a Room with a Refrigerator/Microwave or Kitchen Area

While most people don’t want to cook while they are on vacation, eating smaller meals like breakfast and lunch in the room can be a huge money saver. Stop by a grocery store and pick up some essentials like granola bars, lunch meat, and bread. You’ll be able to splurge more on dinner this way.

3. Don’t Choose the Best Room

How often will you be in your room anyway? Choosing a simpler room can save you extra money to spend towards something else on your trip.

4. Stay Outside the City

Staying in the city can often be much more expensive. You can do the attractions during the day, and then when you are finished come back and sleep.

5. Apply for a Rewards Credit Card

If you take yearly vacations, consider applying for a rewards credit card and use it with your vacation in mind. Reward points add up quickly. Don’t overspend on your rewards card, but take advantage of the points you earn from regular spending.

The Family Credit Union

The Family Credit Union staff hopes your family enjoys their vacation. Contact us today to learn more about what we offer or how we can make your life easier.

Quad City River Bandits If you’ve taken advantage of the great deals that are part of our Family Fun Dollar Days, you know that The Family Credit Union provides you with fun activities from all over the Quad Cities. We’re proud to announce our newest partner is The Quad Cities River Bandits!

New for 2018, the River Bandits offers Baseball Mondays. On June 25th and July 9th, you can buy a General Admission ticket for only a $1.00 and also ride the beautiful Ferris Wheel for only a $1.00! What a deal!

Catch a game at scenic Modern Woodmen Park and enjoy a summer night with America’s pastime.

Other Family Fun Dollar Days Deals

Between June 4th and July 9th, you can visit the following locations for only one dollar*:

*Visit our Family Fun Dollar Days page for details

The Family Credit Union wants you to make the most of your hard-earned money, so take advantage of all the Family Fun Dollar Days deals this summer!