Do you plan to retire one day? Check out our free seminar!


Do you dream about the day you can wake up and say, today’s the day I’m telling them I’m retiring? For most of us, that day is probably a long way off. And for some, that day may be even further away if you didn’t take the necessary steps to get some kind of retirement plan and savings in place.

At this time of the year, many of you are probably focused on spring clean up, remodeling, buying or selling your home, filing your taxes, and sliding into spring sports, proms, graduations and such. Who has time to think about retiring now while there’s so many other things going on?

Take that time now so that you can enjoy those days to come. None of us wants to work ourselves to death and you certainly don’t want your retirement to begin on the day of your own funeral.

Take time out of your schedule and invest two hours of your time learning how you can easily save for the retirement you deserve. We hope to see you at one of our seminars listed below:

retirement andrew

retirement andy

seminar overview

save your seat

Registered Representative of INVEST Financial Corporation, member FINRA/SIPC. INVEST and its affiliated insurance agencies offer securities, advisory services and certain insurance products and are not affiliated with Members 1st Investment Services or Members 1st Federal Credit Union. Products offered are: Not NCUA insured • Not a deposit or other obligation of or guaranteed by any credit union • May lose value including the possible loss of principal amount invested. INVEST does not offer tax or legal advice.

 

Simple Steps to Save Successfully During America Saves Week


Written by Tammy G. Bruzon of America Saves

America Saves Week (February 27 – March 4, 2017) is an annual opportunity for individuals to assess their savings and take financial action. Each year, we encourage savers – or potential savers – just like you to set a goal, make a plan, and save automatically.

This America Saves Week, try these five simple steps to help yourself save automatically – and successfully:

  1. Assess Your Savings.
    Like your health, you should assess your savings annually to make sure your savings priorities are on the right track. Complete this simple 12-question assessment to find out your current standing and help you plan for the future.
  2. Evaluate your Savings Preparedness
    Check off your savings accomplishments on the Saver Checklist to further evaluate where your savings habits need strengthening for your future goals.
  3. Take the America Saves Pledge
    Those with a savings plan are two times as likely to save for emergencies and retirement than those without one. Join more than 500,000 American Savers who have already committed to save. When you take the pledge, you can choose to receive text message tips and reminders to help you save towards your goals.
  4. Share Your Savings Goal
    Take part in the 2017 #ImSavingFor photo contest. Share a selfie or video that shows what you’re saving for on Facebook, Twitter, or Instagram. Then check orgin early 2017 to learn more about contest entry details and prizes. Savings never looked so good.
  5. Make Your Savings Social
    Are you on Twitter or Facebook? Join America Saves and the American Savings Education Council in encouraging your friends, family, and colleagues to save this week. Better yet, join one of the many Twitter chats that America Saves will be a part of this week to get real-time savings tips and advice.

Tammy G. Bruzon works for America Saves, managed by the nonprofit Consumer Federation of America (CFA), which seeks to motivate, encourage, and support low- to moderate-income households to save money, reduce debt, and build wealth. Learn more at AmericaSaves.org.

Tax Returns & Budgets


Are you excited for your tax return to help you out of a case of overspending?  The beginning of the year may have passed by already but it’s never too late to get a better handle on your spending habits.

Seasonal changes often times call for a wardrobe change and/or update.  Susquehanna Style magazine gives us a great Cost-Per-Wear (CPW) formula that can help in your decision of want vs. need. To get your CPW take the price of the item and divide it by the number of times you could wear the item.

There are also many ways to save at Members 1st! Consider getting a credit card that pays you when you use it such as our a cash back rewards Visa® Credit Card. To save for special times of the year, consider opening a holiday clubvacation club or evening opening a separate account you designate strictly for savings or emergencies such as car repairs, home repairs, and similar situations.

Here are some more ways to save;

  • Pay yourself first – even if it’s only $10 a week!
  • Calculate purchases by hours worked instead of cost.  Is that item worth the hours you have to work to pay for it?
  • Aim for short-term savings goals. It’s easier to save when the goal stays in sight!
  • Designate one day a week as a “no spend day.” Prepare food at home and plan a free family night of games, movies or time at the park.
  • Commit to eating out one fewer time each month.
  • Pack your lunch!
  • Cut laundry detergent and dryer sheet use in half. You can get the same results for the half the price!
  • Weatherproof your home.
  • Invest in car maintenance.  Properly inflated tires and tuned engine can save you up to $100 in a year!

Stop into one of our Members 1st FCU branch locations or reach out to us on social media for more tips on saving!

We’re Independent – Just Like You!


Members 1st Insurance Services Hands holding paper house, car and family

Q:  What do you really know about insurance?

A: Do you fully understand why you have insurance, and how it’s supposed to work? When (or if) you read your policy, do you understand what it means? Are you familiar with insurance law? If you’re like most people, you answered no to these questions. This is one reason why you need an independent insurance agent.

Whether you’re an individual or business, buying or shopping for insurance is sometimes taken lightly. To take it lightly is a mistake. Why? Because insurance is there to protect your most valuable assets – you and your home, cars, business and future. The worst time to find out you don’t have the right policy and coverage is when you need them the most, AFTER you’ve suffered a loss.

Q: What is an independent insurance agent?

A: Choosing the right kind of insurance agent can make a big difference in securing the best combination of price and value to fit your needs. Essentially, there are two kinds of insurance agents. One is the “captive agent”, such as those who work for Nationwide or State Farm. A captive agent represents a single company, and can only provide you with information or access to his company’s products. The other is an independent insurance agent, like Members 1st Insurance Services. Independent agents have no exclusive relationship with any one company. With an independent agent, you get choices. Why? Because an independent agent represents many insurance companies at once, and works on your behalf to find the best possible rate and coverage to fit your specific needs.

Q: What about using a “direct writer” to purchase insurance?

A: “Direct writers” (such as Geico or Safe Auto), sell directly to consumers. As with captive agents, direct writers can only provide information and access to their company’s products.

Q: What does this mean for me?

A: It means, without the experience of an independent agent to assist, inform and guide you, you’re taking on a level of risk you may not realize even exits.

Q: Why choose an independent insurance agent?

A: With an independent agent, in addition to having choices, you have the advantage of a licensed professional who will:

  • Evaluate and assess your individual risks and requirements;
  • Identify and tailor policies that are right for you:
  • Offer products to meet all of your insurance needs, including auto, home, business, life and flood;
  • Assist you when you have a claim;
  • Treat you like a person, and provide excellent, hands-on service.

An independent agent will help you understand what your policy actually covers, how much of a deductible to carry and how much coverage you need. When it comes to protecting your family, your assets and your future, you want to do it right, the first time!

Q: How do I know what I should do?

A: Making such a personal decision about your options is yours – and yours alone under the law. Members 1st Insurance Services can help explain these options. We are here to help provide you with information on these choices so you can make informed decisions.


Time to review your insurance coverages!

Call us at (800) 283-2328, ext. 5218 or 5245, visit your nearest branch, or click here for more information!

Ask about a FREE Quote!

*Insurance services available to PA and MD residents only.

Secured vs. Unsecured Loans


Male PortraitWhat’s the difference?

Secured Loans

Secured loans are those loans that are protected by an asset or collateral of some sort. The item purchased, such as a home or a car, can be used as collateral, and a lien is placed on such item. The credit union, finance company or bank will hold the deed or title until the loan has been paid in full, including interest and all applicable fees. Other items such as stocks, bonds, or personal property can be put up to secure a loan as well.

Secured loans are usually the best (and only) way to obtain large amounts of money. A lender is not likely to loan a large amount with assurance that the money will be repaid. Putting your home or other property on the line is a fairly safe guarantee that you will do everything in your power to repay the loan.

Secured loans are not just for new purchases either. Secured loans can also be home equity loans or home equity lines of credit. Such loans are based on the amount of home equity, which is simply the current market value of your home minus the amount still owed. Your home is used as collateral and failure to make timely payments could result in losing your home.

Secured loans usually offer lower rates, higher borrowing limits and longer repayment terms than unsecured loans. As the term implies, a secured loan means you are providing “security” that your loan will be repaid according to the agreed terms and conditions. It’s important to remember, if you are unable to repay a secured loan, the lender has recourse to the collateral you have pledged and may be able to sell it to pay off the loan.

Examples of Secured Loans:

Unsecured Loan

On the other hand, unsecured loans are the opposite of secured loans and include things like credit card purchases, education loans, or personal (signature) loans. Lenders take more of a risk by making such a loan, with no property or assets to recover in case of default, which is why the interest rates are considerably higher. If you have been turned down for unsecured credit, you may still be able to obtain secured loans, as long as you have something of value or if the purchase you wish to make can be used as collateral.

When you apply for a loan that is unsecured, the lender believes that you can repay the loan on the basis of your financial resources. You will be judged based on the five (5) C’s of credit — character, capacity, capital, collateral, and conditions – these are all criteria used to assess a borrower’s creditworthiness. Character, capacity, capital, and collateral refer to the borrower’s willingness and ability to repay the debt. Conditions include the borrower’s situation as well as general economic factors.

Examples of Unsecured Loans:

Information courtesy of GreenPath Financial Wellness.

 


Members 1st Federal Credit Union can help you with all of your loan needs!

Click Here for more information!

 

Career Insights – Branch Management Trainees


managementtrainees

Sophie and Andrea

What defines a great company to work for? How about its commitment to their employee’s futures?  Here at Members 1st FCU we invest in our employees now and their futures by offering trainings that will help them grow professionally as well as offering them the opportunity to retire with a pension and a 401(k).  Today we sat down with our two Branch Management Trainees, Sophie and Andrea, to learn a little bit more about what they do and why they think Members 1st FCU is simply the best!

Tell us about the Branch Management Trainee position, what is the purpose?

(Andrea) The Branch Management Trainee position is a 9-month program dedicated to us learning different leadership styles within the credit union and branches by visiting the different departments.  We also get the opportunity to see how each department affects the branches and vice versa.  At the end of the program we will each become Assistant Branch Managers at one of our branches.

When and where did you start with the credit union?

(Sophie) I started about 4 years ago as a part-time teller at our Hershey 39 branch. After 2 years of being a part-time teller I moved to our Middletown branch as a Member Service Representative level I, or MSR I, and worked my way up to an MSR II.

(Andrea) I have been with the credit union for about a year now.  I started as an MSR I at our Carlisle Pike branch and was a Head Teller at Carlisle Pike before I was selected for the Branch Management Trainee position.

What is your favorite part of the program?

(Andrea) My favorite part of the program has been getting the opportunity to meet so many people within the credit union and getting to expand my network of resources.

(Sophie) I’ve really enjoyed getting to meet all of the people we know from talking on the phone while in the branches.  It’s nice to be able to put a face to the name and also to gage their leadership styles.

It was great getting the chance to talk with these young professionals of Members 1st!  Check out our Careers Page to see what opportunities we have for you. If you’d like to hear more about what they had to say visit our FaceBook page and watch our 2 Minute Topic video.

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