By Konnie M. Werner, President/CEO
Dear Members,
With the new year comes a renewed sense among many of us to reduce debt and get our finances under control. In fact, according to a recent Federal Reserve report, consumers' household debt fell for the first time ever, based on data going back to 1952. In most cases, by lowering the amount of debt obligations that you have, you are actually increasing your ability to pay down other debt, save more money and be in a better position when unexpected financial events occur. Striving to live with less debt can provide you with a new sense of responsible money management, not to mention improving your credit score.
Review your old spending habits and determine those expenses that you can eliminate or drastically reduce. For example, if you have any recurring monthly memberships/obligations (movie rentals, magazine subscriptions, health club, music club, etc.) that you are paying for that have no real value, cancel them. Also, do your best to eliminate at least one of your indulgent purchases (gourmet coffee, fast-food, clothing, etc.) a week and watch the savings add up.
I know I’ve said it before, but it’s really not about how much we make but how we spend our money that determines our financial success. Remember it all starts with small changes in our financial behavior today that can have a large impact in the future. Saving money really can be contagious!
Stay tuned to future monthly newsletters for more tips on “Living Within Your Means”. For more information on personal finances and ways to safeguard your financial information including free informational pamphlets, please visit our “Planning for Life” webpage.
Thursday, December 18, 2008
Chrysler - Cruise into Cash Back
Chrysler has joined GM in offering a special "Invest in America" discount program for our members!
Current and new credit union members can receive up to $1,000 in bonus cash incentives on certain models of Chrysler, Dodge, and Jeep vehicles. Plus, the Credit Union Member Cash program can be combined with most current incentives to add to your savings!
And when you finance your new vehicle with us, you’ll be saving even more with our fantastically low auto loan rates starting at 5.49% APR*. On average, a new vehicle loan through your credit union is 1% lower than at other financial institutions. Another great reason to Invest in America. Call or visit us today to get pre-approved before you visit a dealership to save time & money!
For details, including our latest rates and links for more details on this special discount offer, visit our Invest in America webpage.
* Rate listed represents our best rate and is based on credit history. To determine your rate, please contact the credit union.
Current and new credit union members can receive up to $1,000 in bonus cash incentives on certain models of Chrysler, Dodge, and Jeep vehicles. Plus, the Credit Union Member Cash program can be combined with most current incentives to add to your savings!
And when you finance your new vehicle with us, you’ll be saving even more with our fantastically low auto loan rates starting at 5.49% APR*. On average, a new vehicle loan through your credit union is 1% lower than at other financial institutions. Another great reason to Invest in America. Call or visit us today to get pre-approved before you visit a dealership to save time & money!
For details, including our latest rates and links for more details on this special discount offer, visit our Invest in America webpage.
* Rate listed represents our best rate and is based on credit history. To determine your rate, please contact the credit union.
Thursday, December 11, 2008
Important information regarding Overdraft and NSF notices
Effective January 1, 2009, Team One will no longer mail notices for any Overdraft or NSF events. Courtesy Pay notices will still be mailed.
However, we will continue to provide FREE E-Notices (including Overdraft or NSF events) to quickly and securely deliver notices to your email address instead of by mail. Please visit our E-Notices page to signup or for more information about our convenient, secure online services.
As a reminder, we do not share your personal information and take aggressive measures to safeguard your privacy.
However, we will continue to provide FREE E-Notices (including Overdraft or NSF events) to quickly and securely deliver notices to your email address instead of by mail. Please visit our E-Notices page to signup or for more information about our convenient, secure online services.
As a reminder, we do not share your personal information and take aggressive measures to safeguard your privacy.
Tuesday, December 9, 2008
Invest in America
To help support the domestic auto industry and its workers, Team One along with the State and National Credit Union Leagues have partnered to offer the Invest in America program. (Here is a link to a Detroit Free Press article: Special Free Press Editorial - A Message to Washington: Invest in America.)
Now through January 5, 2009, all current and new credit union members will receive the GM Supplier Discount plus $250 bonus cash on most new GM vehicles. And, in most cases, you can combine current incentives and GM reward card earnings to put that new car in reach. There's no haggling with salespeople, no need to go from dealer to dealer--simply visit teamonecu.org to get cruising. For more information about the Invest in America program, please visit lovemycreditunion.org.
As always, we offer competitive rates (see our current rates), terms up to 72 months, automatic payment options, and fast approvals. And you can securely apply online at your convenience.
We realize how important GM is to our communities, especially right here in the Mid-Michigan/Thumb area, and we will continue to provide the products and services to help support the communities that we proudly serve.
Positive discussions are underway to provide special credit union discount towards Ford and Chrysler vehicles also.
Now through January 5, 2009, all current and new credit union members will receive the GM Supplier Discount plus $250 bonus cash on most new GM vehicles. And, in most cases, you can combine current incentives and GM reward card earnings to put that new car in reach. There's no haggling with salespeople, no need to go from dealer to dealer--simply visit teamonecu.org to get cruising. For more information about the Invest in America program, please visit lovemycreditunion.org.
As always, we offer competitive rates (see our current rates), terms up to 72 months, automatic payment options, and fast approvals. And you can securely apply online at your convenience.
We realize how important GM is to our communities, especially right here in the Mid-Michigan/Thumb area, and we will continue to provide the products and services to help support the communities that we proudly serve.
Positive discussions are underway to provide special credit union discount towards Ford and Chrysler vehicles also.
Thursday, December 4, 2008
Lottery Check Scam
Please be aware of a lottery check scam that is circulating. Below is a sample of the fraudulent letter along with an image of the fake check.
Click on the image to see it larger.
To learn more about fraudulent check scams, please visit www.fakechecks.org.
Click on the image to see it larger.
To learn more about fraudulent check scams, please visit www.fakechecks.org.
Wednesday, December 3, 2008
Steps to Weather These Trying Economic Times
By Konnie M. Werner, President/CEO
Dear Members,
Although everyone’s financial situation is unique, there are steps that we can take to help us weather these trying economic times. These include striving to live within our means, cutting back on non-essentials, saving more and reducing our dependence on credit.
It starts with reviewing the way that you spend money currently and identifying those “luxury” items that you could cut or even greatly reduce. For example, target those expensive coffee drinks or even those fast food meals that seem to be purchased more frequently than you ever intended. You would be amazed by the amount of money many people spend on items like these on a daily basis and how much it can impact your bottom line.
Even though the best way to use a credit card and avoid paying interest charges is to pay the balance once it becomes due, if you have a large outstanding balance, that’s just not possible. In these cases, it's important to try and pay as much as possible monthly or even make more than one payment per month. This will help you pay off the debt sooner and also increase your available credit amount. Having credit available gives you a little cushion of available money in case an emergency expense comes up. As a rule of thumb, do not use your credit cards for non-essential items, if you cannot pay the balance in full when you receive the statement. Only paying the minimum balance on your cards(s) as you continue to rack up new charges is very dangerous. This practice only adds to the actual cost of the items (when you include interest) and adds a greater financial burden on your future. So remember, before you make that next purchase using your credit card to ask yourself a few questions, “Is this really worth the added cost if I don’t pay it off immediately?” or “Can I budget and save for this item instead?” In most cases you will be glad that you took the time to have a talk with yourself to help safeguard your finances. Credit is easy to get but can be very difficult to payoff when you aren’t careful.
Remember, in most cases it isn’t about how much you earn, but instead how you spend your money!
Stay tuned to future monthly newsletters for more tips on “Living Within Your Means”. For more information on personal finances and ways to safeguard your financial information including free informational pamphlets, please visit our “Planning for Life” webpage.
Dear Members,
Although everyone’s financial situation is unique, there are steps that we can take to help us weather these trying economic times. These include striving to live within our means, cutting back on non-essentials, saving more and reducing our dependence on credit.
It starts with reviewing the way that you spend money currently and identifying those “luxury” items that you could cut or even greatly reduce. For example, target those expensive coffee drinks or even those fast food meals that seem to be purchased more frequently than you ever intended. You would be amazed by the amount of money many people spend on items like these on a daily basis and how much it can impact your bottom line.
Even though the best way to use a credit card and avoid paying interest charges is to pay the balance once it becomes due, if you have a large outstanding balance, that’s just not possible. In these cases, it's important to try and pay as much as possible monthly or even make more than one payment per month. This will help you pay off the debt sooner and also increase your available credit amount. Having credit available gives you a little cushion of available money in case an emergency expense comes up. As a rule of thumb, do not use your credit cards for non-essential items, if you cannot pay the balance in full when you receive the statement. Only paying the minimum balance on your cards(s) as you continue to rack up new charges is very dangerous. This practice only adds to the actual cost of the items (when you include interest) and adds a greater financial burden on your future. So remember, before you make that next purchase using your credit card to ask yourself a few questions, “Is this really worth the added cost if I don’t pay it off immediately?” or “Can I budget and save for this item instead?” In most cases you will be glad that you took the time to have a talk with yourself to help safeguard your finances. Credit is easy to get but can be very difficult to payoff when you aren’t careful.
Remember, in most cases it isn’t about how much you earn, but instead how you spend your money!
Stay tuned to future monthly newsletters for more tips on “Living Within Your Means”. For more information on personal finances and ways to safeguard your financial information including free informational pamphlets, please visit our “Planning for Life” webpage.
Tuesday, December 2, 2008
Extra Alert during this Holiday Season
Please be on extra alert during this Holiday Season for scam artists & ID thieves. As always do not provide your personal information to any individual or business that you do not know or trust. If you receive an unsolicited phone call or an email with an offer that sounds too good to be true...it probably is! Remember that Team One will never call or email you to request your personal information. If you ever receive any solicitations from a company posing as "your credit union" that you believe is fraudulent, please inform us immediately.
Being very protective of your personal information is in your best interest!
Being very protective of your personal information is in your best interest!
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