Don’t get run over by the lack of coverage


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There’s a lot riding on the right auto inurance. Lack of coverage will cost you in ways you can’t imagine. The experts at Members 1st Insurance Services know car insurance and can help you design a coverage plan tailored to your needs.

When you talk about auto insurance, do you really understand what it all means? The following may help you understand some common auto insurance jargon. Please note that each state regulates auto insurance differently and some of the terms may differ from state to state or from policy to policy. Ask your insurance agent for clarification.

  • At fault – This is the degree to which you caused or contributed to the accident, or are “at fault”, and it determines whose auto insurance company pays what portion of the damages.
  • Bodily injury liability – This is what pays for the medical expenses and additional damages for which you are liable for other individuals injured in the accident in which you are at fault.
  • Comprehensive coverage – This pays for damages to your vehicle resulting from a covered loss other than a collision. Examples are theft, fire, vandalism, contact with persons, animals, birds or falling objects.
  • Collision coverage – This pays for physical damage to your vehicle if it’s caused by rolling the vehicle or you get into a collision with another vehicle or object such as a telephone pole, fence, or building.
  • Covered loss – This includes any damage to you, your vehicle or other people or property that is covered under your insurance policy.
  • Deductible – This is your upfront out of pocket expenses you pay before what your insurance company pays. Higher deductibles allow your insurance company to offer you lower premiums.
  • Property damage liability – This pays for the damages your auto causes to others and their property.
  • Medical payments coverage – This pays for reasonable medical expenses or death benefits to anyone covered under your policy, regardless of fault.
  • Premium – The amount you pay for your insurance coverage, monthly, quarterly or annually.
  • Underinsured motorist bodily injury coverage – This pays for your bodily injury and any related medical expenses when you’re injured in a car accident and the responsible party (someone other than you) doesn’t have adequate auto insurance.
  • Uninsured motorist bodily injury coverage – This pays for your bodily injury and related medial expenses if you’ve been injured in a car accident and the responsible party (other than you) doesn’t have auto insurance or can’t be located (hit and run).

Ask us about rental reimbursement, repair or replacement coverage, towing and labor coverage, gap insurance and more. Put the brakes on higher premiums and not being covered properly. Let us review your current auto rates and provide you with a FREE quote. We may be able to help you lower your premiums. Ask us if you qualify for an additional group discount through our insurance carriers.*

Call (800) 283-2328, ext. 5128 or 5245 today or visit http://www.members1st.org/products-services/insurance-services.

*Insurance services are available to Pennsylvania residents only.

A life cycle of lending


piggy bank

Think of us first when you need a loan.

Members 1st Federal Credit Union has a whole suite of lending products for every stage of your life. Throughout your lifetime there are many good reasons to borrow money: for education, purchasing a new vehicle or home, or perhaps financing your business needs. We have one of the widest variety of competitively priced lending products of any financial institution in the area. As a member, when you apply for a loan, you may qualify for a discounted loan rate depending upon your Member Loyalty Reward level. Always ask what your reward level is and how that could help your loan rate.

As a locally owned credit union with no stock holders pushing to maximize profits, you are ensured low rate loan products with very little or no fees. One of the first types of lending young adults become familiar with is our student loan program, Credit Union Student Choice. This program allows student and parents to borrow money as a line of credit, which allows for deferred payments until after graduation with low rates and a competitive structure. Our Student Loan Administrator, Tiffanie DeVan, would be glad to sit down with both student and parent to discuss this option for financing your college education. You can reach Tiffanie at (800) 283-2328, ext. 6017.

Many people start their relationship with us via an auto loan. These loans may be obtained either directly from us or through our “On the Spot” vehicle loan program, which is available through any of our 250 auto dealer partners throughout Southcentral Pennsylvania. We have financing available with terms up to 84-months. Visit www.members1st.org > Products & Services > Loans or call (800) 283-2328, ext. 6040 for details.

One of the most convenient types of loan products we offer is our VISA® products. These products include our VISA® Platinum Cash Back program, which features 1% cash back on all purchases, plus 2% cash back on gas and grocery purchases. If you are having some credit issues, but still would like the convenience of a VISA® card, our new VISA® Platinum Secured Card can provide you with a VISA® card and help you re-establish credit. Contact our Card Services Department at (800) 283-2328, ext. 6040 for more details or visit www.members1st.org > Products & Services > Card Services to apply.

If you are purchasing, refinancing, or constructing a new home, our experienced mortgage experts will guide you through the process and make it as easy as possible. We offer VA, FHA, Conventional, and Construction loans, plus a PHFA first time buyer’s program with little or no money as a down payment. You can reach our mortgage specialists at (800) 283-2328, ext. 6026. To view our current rates or to apply online, visit www.members1st.org > Products & Services > Mortgage Services.

After home ownership, you may be interested in home equity loans and lines of credits to assist with making home improvements, debt consolidation, or simply to have a line of credit available for any future borrowing need. Our fixed-rate, fixed-term home equity loan program features terms up to 20 years and our Home Equity Line of Credit products have different repayment options to fit your budget. Contact our loan specialists at (800) 283-2328, ext. 6040 or visit www.members1st.org > Products & Services > Loans > Home Equity Loans & Lines of Credit for details.

If you are a business owner, we have a number of business loan programs available for capital purchases or line of credit products, which can be tailored to suit your business needs. Members 1st participates in the SBA 504 program, in addition to the US Department of Agriculture’s Business and Industry program. Visit www.members1st.org > Products & Services > Business Services to learn more about how we can help you. You may also contact our business lending experts at (800) 283-2328, ext. 5168.

If you need money, we have money to lend: Signature loans, Fresh Start loans, Share Secured loans, and Recreational Vehicle financing to name just a few. In addition, along with many of our lending products we offer our Member Value Protection coverage, which offers low cost debt protection in case of death, disability or unemployment. We are your one stop shop for all of your borrowing needs throughout your life. Stop by your nearest branch or visit us at www. members1st.org.

College is coming


college student

As a parent, this moment has been on your radar, but now it’s coming fast. Your baby is about to begin his or her senior year of high school. This is a very busy year and will fly by quickly. There’s much to do. That also means it’s time to start thinking about higher education opportunities and the application process. To help you and your senior, we’ve included some tips for the fall months as you move forward toward next year’s college departure.

August:

  • Request information and applications from prospective colleges, universities or technical/career schools.
  • Visit campuses to help evaluate schools.
  • Start a general search for scholarships and grants, research financial aid information from prospective schools so you’re aware of any early deadlines.
  • Attend our free Financial Aid Seminar on Thursday, August 22 from 6 to 8 pm at our Adminstrative Headquarters.

September:

  • Set a time to meet with school guidance counselors to determine college admission plans and to arrange proper testing (SAT, PSAT, ACT). Attend college fairs and meet with admission representatives to discuss career objectives and see if the school is recognized as being strong in this field.
  • Attend Financial Aid Nights offered by local high schools or Members 1st.
  • Evaluate early decision/early application admission requirements.
  • Start admission applications. You should apply to numerous schools so you have options if you are not accepted at your first choice.

October:

  • Be aware of college admission application deadlines in order to submit application materials (applications, essays, transcripts and letters of recommendation) in a timely manner.
  • Research and begin applying for private scholarships and grants. Always double check the deadlines.
  • Check with schools regarding application procedures and availability of scholarships and grants.

You can also find resources about student loans and our Student Choice Line of Credit at www.members1st.org > Products & Services > Student Services.  Our Specialty Loan Administrator, Tiffanie DeVan, is always ready to help you. You can reach her at (800) 283-2328, ext. 6017 or devant@members1st.org.

Don’t let your lack of insurance make a bigger disaster out of a natural disaster


tornado sky
Natural disasters can happen anywhere at any time. And they can occur in the same place more than once within days (remember the recent tornadoes that ripped through Oklahoma). Think again if you believe that Southcentral PA is immune to tornadoes, earthquakes, hurricanes, blizzards and wildfires. Members 1st Insurance Services is encouraging you take a good look at your insurance coverage to make sure you’ve done some fundamental planning that could save you, your loved ones, or your business a lot of headaches should Mother Nature decide to stir things up.

Even though you may have natural disaster insurance coverage and you’ve prepared for a disaster, being properly insured can be a big help in the aftermath. Make sure your insurance protects what’s important to you. When reviewing your natural disaster protection options with your agent, keep the following in mind: 

1. Do you have adequate insurance if something were to happen to you, your family or your property? Is there enough money to cover bills, any medical expenses, funeral expenses and more?
2. If you have a business, is it properly insured if a natural disaster hits your area?
3. What’s the process if you need to file a claim? If a catastrophe hits your area, is that process different?
4. Are your policies up-to-date? Member 1st Insurance Services offers an annual review to make sure your home, life, auto insurance, or business keeps up with the changes in your life.
5. Keep your agent informed if you’ve remodeled your home or added another room or basement. This helps to ensure your home owners insurance protects your entire home. It’s a good idea to also take photos of your home (inside/outside) and every room and its contents so you know exactly what it is you have. Keep a CD of your photos in a safe deposit box or other secured location where it will be protected. A picture inventory is a great way to keep track of your belongings. You may also want to consider having your home reappraised to get a better idea of its value.
6. Ask your agent how deductibles work after a catastrophe.
7. Think about valuable items insurance – taking out extra insurance at a nominal cost for special items such as expensive cameras, musical instruments, computers, engagement rings, artwork and furs.
8. Flood insurance is different from homeowners insurance. Homeowners insurance does not include natural disaster protection to cover floods. Flood insurance is a separate type of insurance that may be purchased to protect you from losses due to flooding.
9. Do you have a natural disaster plan  for your home or business? Talk to your agent and ask for tips.
10. Do you rent? Hopefully you’ve purchased renters insurance and if you haven’t, we strongly encourage it. Your landlord’s insurance doesn’t project your personal belongings. Ask your agent how renters insurance works after a disaster hits.

A natural disaster can happen anywhere not just within the confines of a certain geographic location. It takes about an hour to meet with an agent to discuss these issues. Members 1st Insurance Services is here to help you. We offer a free, no-obligation insurance quote and have products to meet a variety of typical personal insurance needs such as auto, boats, valuable items, personal umbrella, recreational vehicle, condominium, dwelling fire, homeowners, renters wedding, mobile home and flood. Call us at (800) 283-2328, ext. 5218 or 5245. A little advance planning right now can make a potential disaster a lot less stressful.

For additional help in the event of a natural disaster:
www.fema.gov
www.ready.gov
www.nhc.noaa.gov

Why you should consider direct deposit or direct payments


lady with lap top

Are you still receiving paper checks? Do you continue to write checks to pay bills? Are those really the best, safest and reliable financial habits to have in today’s electronic world? May is Direct Deposit and Direct Payments via ACH Month. That means you can do a lot of your banking electronically  — meaning you can eliminate extra trips to your financial institution, save money on stamps and gas, and save a lot of time. It’s easy to set up and it’s convenient. It can help you avoid fees and your money is secure – it’s in your account when you need it. Payments are made on time.

Direct deposit can be used for payroll checks, Social Security payments, tax refunds and other government payments that you receive. To start direct deposit, you need to contact your employer’s payroll office or the organization from which you are receiving payments. Effective March 2013, the US Department of the Treasury requires that all federal benefits are paid electronically. For more information on this subject, visit http://www.GoDirect.org or call (800) 333-1795.

Direct payment via ACH means you make transfers or payments electronically so that you may send money where it needs to be by when it needs to be there. You never have to worry about payments getting lost or stolen in the mail. And some companies offer incentives when you sign up for automatic payments.

If you’re not banking electronically, give it some consideration. You’ll save time and be amazed at how convenient it is. Not only that, but you’ll help the environment as well by eliminating additional paper waste.

Celebrate Credit Union Youth Week


Youth Week Logo

Join us for National Credit Union Youth Week, April 21-27, 2013, a special week focused on teaching kids to save money and how to manage their personal finances. Stop by any of our branches to enjoy the following activities for our younger members (through age 19):

“Guess How Much Money Is in the Jar” contest
Fill out an entry slip during Youth Week, April 21-27 to guess the amount of money in the jar at your local branch. Guess how much money is in the jar and we’ll deposit the money in the jar into the child’s Youth Club Account.

Coloring Sheet Display
Pick up a coloring sheet at your local branch during Youth Week or download it here. Return your colored sheet to your local branch to have it displayed during Youth Week.

When a child makes a $5 deposit into their Youth Club Account, he or she (as long as they are under age 13) may pick out a prize from our Treasure Chest.

Parents, we have resources geared toward teaching your children about personal finance. Check out the following:

Teach Your Kids About Money

Googolplex

How Money Smart Are You?


Man at desk with laptop

The week of April 22-26 is Money Smart Week. This week is a public awareness campaign designed to help you better manage your personal finances. You’re invited to participate in three FREE 45-minute webinars, presented by our partner, GreenPath Debt Solutions.

Monday, April 22 at 12:00 p.m.
What’s On Your Credit Report?
Reviewing your credit report is an essential step to financial success. Topics include tracking your credit report for free, understanding what is on your report, and ways to handle inaccuracies and prevent fraud.
Register today!

Wednesday, April 24 at 12:00 p.m.
Tips for Selecting and Financing Your Next Vehicle!
There are so many choices these days when you are in the market for a new car. In this webinar you’ll learn how to determine what type of vehicle and situation is best for you: buy new, buy used or lease. You’ll also find out how to break down different financing options and choose the one that fits best in your budget!
Register today!

Friday, April 26 at 12:00 p.m.
Unlocking the Secret to Your Credit Score!
You’ve seen these numbers before: 720, 680, 550, but what does it all mean? This course is designed to help you gain a better understanding of what makes up your credit score and what you can do to improve it.
Register today!

Members 1st FCU offers free educational seminars that are open to the public. Check our calendar of events for details.

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