News & Announcements
Don't Tax My Credit Union!
Credit Unions are a big topic among politicians lately regarding tax status. Banks are pushing for Congress to impose a tax on credit unions and because credit unions are member owned, that is essentially a tax on all credit union members.
As You Know: Credit Unions are a not-for-profit member owned cooperative. While credit unions are regulated by the federal and state governments, they are also governed by volunteer boards elected by their membership. Credit unions don’t answer to stockholders, but to each of their 96 million members.
The credit union mission has always been to ensure secure financial choices at lower costs for their members. That’s why credit unions offer financial products that provide better returns on savings, reduced rates on loans and lower or no fees on services.
What they are Saying: Banks and some in Congress want to raise taxes and impose new fees on 96 million credit union members who represent 40% of all Americans, yet represent only 6% of the assets in financial institutions. And, they want to do this despite the fact that credit unions are not-for-profit and meeting their core mission every day.
How You Can Help: You can take action today by letting your Congressmen know that you do not support the taxation of Credit Unions. Visit http://www.donttaxmycreditunion.org/ today to send your Congressmen an email saying “Don’t Tax My Credit Union.”
Don’t let Congress raise taxes on 96 million credit union members. Don’t let Congress eliminate real financial choice. Don’t let Congress destroy our credit unions.
Five (Cheap) Gift Ideas for Graduates
According to a recent National Retail Federation survey, consumers spent an average of $99.94 on graduation gifts last year, buying on average gifts for two new graduates.
16 Ways to Cut Your Grocery Bill
Looking for an easy way to cut your expenses in your home budget. One easy way is to start with your grocery bill. Dori Zinn, a blogger with Moneytalknews.com found 16 easy ways you can trim down your grocery bill:
1. Buy discounted meat, poultry and fish
What most of us do is create a menu, then go to the store and buy the ingredients. A better way might be to plan our menus around what’s on sale.
One of my local grocery stores, Publix, puts different cuts and types of meats on sale every week. Grab what’s on sale. If it’s your favorite, stock up.
2. Eliminate soda and sugary drinks
Not only is this good for your health, it’s good for your wallet. Last year, a Gallup poll showed that nearly half of Americans drink soda every day.
Stick to water whenever possible; it’s nearly free. Need more variety? Buy powdered drink mixes or tea and make it yourself.
3. Opt for whole instead of cut produce
A container of fruit salad at my grocery store can cost $5. But when I buy the fruits separately and slice them myself, the same money will pay for a week’s worth. Slicing fruit isn’t rocket science.
4. Try Meatless Monday
Monday isn’t a requirement, but consider joining the Meatless Monday movement. Less meat can mean less fat, clearer arteries and lower expenses. If you can’t imagine a meal not centered on meat, look online for recipes. There are thousands upon thousands.
5. Buy only food
Do you grab home essentials at the grocery store, where laundry detergent and deodorant cost more? You’re paying extra for convenience. Stores like Walmart and Walgreens have much better deals.
6. Make your own snacks
Cheez-Its, Goldfish and all manner of snacks are a quick pick, but they add up when you check out. Pack lunches and after-school snacks with fresh fruit, carrots or homemade granola, and you’ll lower your calories and spending. Strung out on Goldfish? You can make them yourself.
7. Visit farmers markets
Big-box grocers offer a wide variety of fruits and vegetables, but variety doesn’t translate to inexpensive. Visit your local farmers market, which may be less expensive, or go straight to the farm. See 7 Ways to Score Cheap Locally Grown Food for more.
8. Buy generic
From flour to salt to pasta, you can save 30 percent or more with store brands. This works for practically everything on your grocery list. But even if you hate generics, it’s hard to argue it’s worth paying more for these seven things.
9. Make more
If you’re stocking up on meat and veggies, why not cook extra? Roast a chicken with veggies at the beginning of the week and use leftovers for chicken salad, tacos or a pasta dish. Stretch your meals.
For the rest of the list, click here.
Lower Your Monthly Car Payment
Do you have an auto loan with another financial institution? Secured Advantage wants to help you lower your monthly payment AND give you $50 cash when you refinance an auto loan of $10,000 or more from another financial institution. Call or just drop by the branch and let us help you save money today. Our goal in 2013 is to help every member save as much money as possible. We started off the year helping you save money on by offering a special rate on the Secured Advantage VISA* and now we are helping you save money on your monthly car payments. Let us help you save more in 2013!
South Carolina Taxpayers' Privacy Violated
As per The State paper and other news outlets, 3.6 million South Carolina Taxpayers' Information has been compromised. Please see the full article here.Secured Advantage is urging all members to read the article and to follow the steps outlined to make sure your information was not compromised.
Carolinas Credit Union Foundation pledges major gift to Children’s Hospital
PRESS RELEASE
Date:October 18, 2012
Contacts:Karen Potter, GHS, (864) 797-7558
John McGrail, Carolinas Credit Union, (704) 305-7587
Carolinas Credit Union Foundation pledges major gift to Children’s Hospital
GREENVILLE, S.C. – Pediatric patients at Children’s Hospital of Greenville Hospital System and their families will soon have an interactive, child-friendly space in which to regroup and relax thanks to a $300,000 pledge from Carolinas Credit Union Foundation.
The Foundation, which represents 169 credit unions in both North and South Carolina, made the announcement today (Oct. 18) in honor of National Credit Union Day.
“Giving back is a core value of credit unions and aligns with our collective philosophy of people helping people,” said Carolinas Credit Union Foundation President and CEO John McGrail. “We recently completed a similar project at Levine Children’s Hospital in Charlotte, and we look forward to helping transform a space for pediatric patients here in the Upstate.”
Renovation of the existing Children’s Hospital lobby and entrance is slated to begin in late 2012.Once complete, the space will be more colorful and child-friendly and house interactive games and toys, as well as an existing fish tank – a common element seen throughout all GHS Children’s Hospital facilities.
“We are grateful for partners like the Carolinas Credit Union Foundation, who give generously so that we can better serve our patients,” said Dr. Bill Schmidt, medical director of GHS Children’s Hospital. “This space will give our patients and families a place to go when they want to get out of their room but cannot leave the hospital.”
GHS Children’s Hospital serves as the region’s source for pediatric care. The hospital treats more than 180,000 infants, children and adolescents each year from South Carolina, Western North Carolina, Northern Georgia and beyond.
About Carolinas Credit Union Foundation
The Carolinas Credit Union Foundation represents the cooperative efforts of credit unions in North Carolina and South Carolina in working together today to make for a better tomorrow by helping people help themselves. For more information, visit carolinasfoundation.org.
Announcing Mobile Money APP’s from SAFCU
Imagine being at the store and finding that perfect item for the house. Not sure if you have enough funds to cover the purchase? Use your mobile phone to check your current balance.
Or, you get that urgent call from your son at college. He needs some money right away or he can’t buy his books for the semester. Now you can quickly transfer funds no matter where you are.
Maybe you’re on vacation and have that nagging feeling that you forgot to pay a bill. In just a few screens, you pay anyone from anywhere, even at the beach.
With our new Mobile Money service, you can do all of this and more. Mobile Money is a secure, convenient way to access your bank accounts anytime, anywhere, using your mobile device.
With Mobile Money you can:
· View account balances
· View account transactions
· Transfer funds between your checking or savings accounts
· Pay your bills and more
· Rest assure your information is safe and secure
All you need to get started is an eligible account and a mobile device that can send and receive text messages and/or has access to the Internet. Here’s how you can download the new mobile app’s for your phone:
- Sign into your SAFCU account online
- Look for the “self-service” tab
- Click “downloadable application”
- You will soon receive a text message to your phone with a link
- Click the link to be redirected to download the app suitable for your phone (eg: iPhone users will be redirected to iTunes)
- Install the new app on your phone following the same directions as you would any other app
Should you have any questions or require assistance in downloading the new mobile app’s, contact Katie Matthews via email at katie.matthews@securedadvantagefcu.com or 800.468.5153.
The Truth Behind "0%" Financing from Auto Dealers
When it comes to getting an auto loan, take the time to carefully look at all your options. What you initially think is a great offer, may end up costing you more money in the long run.
|
MYTH |
TRUTH |
| With 0% financing, I’m guaranteed to get the best price | Offering 0% financing may inflate the price of a vehicle to make up for lost finance charges. This may make it more challenging to negotiate a lower price. A reputable dealer will allow you to negotiate the best possible deal before the 0%. |
| 0% is good on long-term loans. | Although there are exceptions, ask upfront about the length of the loan term available with 0%. |
| 0% is available for the car I want. | With 0%, your choice of vehicle options can be greatly limited. Usually the most popular vehicles and new models are not available with 0% financing. Be sure to research whether or not you can obtain 0% on your car of choice. |
| I can use the cash rebate and 0% financing to save more money. |
Typically, most auto manufactures offer a choice between a cash rebate and an interest-free loan, not both. If you opt to take the special financing, you can lose out on thousands of rebate dollars. Do your homework in the beginning. Take advantage of the CUDL AutoSMART calculator to determine if you’ll save more money on the rebate or the 0% financing. |
| I’m sure I’ll qualify for 0%. | Unfortunately, not everyone qualifies for the 0%. It’s often reserved for buyers with the best credit. Find out if you meet the requirements for 0%. |
| With 0%, I do not need to worry about the price of the car. | So you think 0% financing means you’re already saving all you can? Even if you qualify for the 0% rate, you can save even more money by negotiating your vehicle’s final price, and taking advantage of any additional offers. Watch your bottom line and don’t leave money on the table |
- Back to top -
Research Your Options
As a credit union member you are already aware of the many benefits your credit union offers, including low interest rate auto loans and great service tailored to your needs. By researching your auto financing options before you visit a dealership, you may find that when using your credit union's low percentage rate you are still allowed to use any rebates offered by the manufacturer. This could be your best deal! Refer to Chart A for an example of a 36-month term on a $22,000 vehicle at 0% vs. taking the $2,000 rebate and a credit union loan at 6.00%.
As you can see, when taking the rebate, the price of the vehicle drops to $20,000 and the monthly payment also drops lower. Since with the rebate, you are reducing the amount that you are financing even further; and in combination with the Credit Union's low rate your overall costs are lower than if you had received the special factory financing.
Chart B shows an example of a 48 month term on a $19,000 vehicle. Taking a $2,500 rebate lowers the cost of the vehicle to $16,500 and again lowers the monthly payment vs. taking the zero percent with no rebate.
Chart C is an example of a 60 month term on a $21,000 vehicle with a $3,000 rebate. Again, credit union financing with the rebate is the best deal. Refer to Chart D for a complete breakdown and example of factory financing vs. credit union financing.
Right now, SAFCU is offering "Foolishly Low" auto loan rates, starting at just 1.99% APR for members who qualify.
Find us on Facebook!
We would LOVE to connect with you on Facebook! You can find our new page at www.facebook.com/securedadvantagefcu. Keep up to date with what's happening at your credit union, see photos from credit union events, and look for ways to win some cool prizes!