POCU Newsletter - Fall 2017

credit union hours and contact information monday – friday 8:30am to 5:00pm >>ATM 24/7 www.pocu.com 608.244.3518 • 800.431.7628 608-244-1107 fax contactus@pocu.com

fall 2017 NEWSLETTER

2018 The Best Financial Year Ever!

At the end of each year most of us think about things we’d like to accomplish in the coming year. It’s a time we engage in self-reflection, ideas for selfimprovement, and new resolutions and goals. Is creating and sticking to a budget on your list for 2018? Let’s get started!

start small Be realistic in assessing where you are with your finances and don’t try to tackle everything at once. Start by listing all the areas of your financial situation you would like to improve.

Then prioritize the individual elements in order of importance to you, and start by taking on one or two at a time. Don’t give yourself strict boundaries.

Instead, start by creating good habits.

If you want to pay off all of your credit card debt, for instance, take a look at how much debt you have and create a realistic weekly or monthly plan to start paying it off. If you want to buy a house in five years, you could decide to spend less now on something that you currently enjoy.

madison’s first credit union www.pocu.com 608.244.3518

(continued from cover)

be specific

stay accountable

Instead of saying “I am going to save more this year,” or “I am going to save $5,000 this year,” specify exactly how you plan to do it. Start with something like: “I will take $100 from each paycheck and put it into my POCU savings account.” By giving yourself tangible, achievable steps, you’ll be better able to track how well you are sticking to them. In addition, think about what it is that you are trying to accomplish. (Why do you want to save an extra $100 each paycheck?) If you are you saving up for a car, trying to pay off debt, or building up an emergency fund, celebrate that. By focusing on the purpose to your goals, it makes them easier and more fun to accomplish.

Know yourself! Are you someone who might let things build up then feel too overwhelmed to jump back on track?

Think about sharing your goals with a friend or family member and set times to check in with them and go over your progress. If you want to save an extra $100 from each paycheck, find a friend with the same goal and do it together, comparing how it’s going throughout the journey.

1. start small 2. be specific 3. stay accountable

Most importantly, understand that this is a process. Some weeks will be better than others, but, if you can follow these three steps, you’ll be on the path to success!

GOOD ADVICE >> it’s time to get your FREE credit report The more you know about your financial situation, the better prepared you are to make decisions and set financial strategies for 2018. One critical source of information is your personal credit report; it includes information about where you live, how you pay your bills, whether you have been sued or filed for bankruptcy.

Because this report is viewed by creditors, insurers, employers and others, it only makes sense that YOU view it regularly as well to ensure its accuracy!

The Fair Credit Reporting Act (FCRA) requires that each of the three nationwide credit reporting companies (Equifax, Experian and TransUnion) provide you with a FREE copy of your credit report once every 12 months- all you need to do is make the request. You can order all three reports online at www.annualcreditreport.com.

Do not contact the three bureaus separately, they only provide the free annual credit reports through this website.

When you order your reports, be prepared to provide your full legal name, address, Social Security number and date of birth. If you have moved in the last two years, you may be asked for your previous address. To maintain security of your information, you may be asked for some information that only you would know, like the amount of your monthly mortgage payment.

Once you have your credit report, feel free to make an appointment with one of our Member Services personnel to go over your report to ensure that you understand the information.

consider freezing your credit with the three credit bureaus In light of Equifax’s recent announcement of its security breach, you might want to consider freezing your credit with all three main credit reporting agencies: Equifax, Experian and TransUnion. Credit freezes are one of the most effective ways for consumers to protect themselves against identity theft. Visit this website to get details on how to put a freeze in place with each bureau: http://clark.com/personalfinance-credit/credit-freeze-and-thaw-guide/7/ You can learn more about the Equifax data breach at the FTC site here: https://www. consumer.ftc.gov/blog/2017/09/equifax-data-breach-what-do

GOOD CHOICE >> visa account updater coming to POCU members As a member benefit, all Post Office Credit Union Visa Debit Cards will automatically be enrolled in the Visa Account Updater (VAU) beginning in October, 2017. VAU is an account updating service to help facilitate uninterrupted processing of your recurring payments that use your Post Office Credit Union Visa Debit Card information. When your Post Office Credit Union Visa Debit Card(s) expire, are lost or stolen and new cards are issued, the VAU service may update relevant card data (card numbers and expiration dates) to appropriate merchants that participate in VAU. The service provides updates to a Visa database only. The database is accessed by those qualified merchants seeking your account information after you have requested they process a recurring payment or payments. If you would like to opt-out of the VAU service, please complete the Opt-Out Request Form online in the Forms area of our Library (http://www.pocu.com/library) and return it to the credit union.

GOOD RATES >> take the rebates, not the financing!

Are you one of those shoppers who will go the extra mile, an hour early to save a few dollars? Well, we have a shopping tip that could save you thousands!

Fall is the best time of year to buy a car; you can take advantage of end-of-themodel-year sales and you won’t have to wake up at 3am on Black Friday to do it!

Dealerships are making room for next year’s models, so you can buy this year’s model at a bargain price. Watch for ads promoting end-of-year clearance sales at area dealerships. Take the rebates, NOT THE FINANCING; you want to get the cost of the vehicle as low as possible, then come to POCU for your loan. Our rates are as low as 1.75% APR for a 3-year term. (Your particular rate is determined by your credit history, and there are several terms to choose from.) Give us a call at 244-3518, it takes just a few minutes to show you your options. Jim, Michelle and Pam are standing by to give you a great deal!

holiday shopping is a snap with your POCU debit card No, we can’t do your shopping for you, but your POCU debit card is ready to work hard this holiday season. A few helpful reminders: Your POCU debit card deducts funds from your share draft account, and is valid at any merchant displaying the VISA logo. You can make up to 15 purchase transactions, totaling up to $1,500 per 24-hour period, up to your available share draft balance, inclusive of ATM withdrawals. In that $1,500.00 total and time period you can have up to a $500 cash withdrawal— note that our POCU ATM machine actually dispenses up to $500 at one time! What convenience! If $1,500 in a 24-hour period doesn’t meet your holiday shopping needs, we can increase your personal limit with 48 hours’ notice; just give us a call at 608-244-3518.

your money is safe at POCU! Credit unions like POCU encourage their members to save regularly to build economic security for themselves and their families. Federally insured credit unions offer a safe place for you to save your money, with deposits insured up to at least $250,000 per individual depositor. The National Credit Union Administration (NCUA) is the independent agency that administers the National Credit Union Share Insurance Fund (NCUSIF). Like the FDIC’s Deposit Insurance Fund, the NCUSIF is a federal insurance fund backed by the full faith and credit of the United States government. The NCUSIF insures member savings in federally insured credit unions, which account for about 98 percent of all credit unions in the United States. Deposits at all federal credit unions and the vast majority of state-chartered credit unions are covered by NCUSIF protection, and not one penny of insured savings has ever been lost by a member of a federally insured credit union.

Please visit www.cuaid.coop

Hurricane Irma and Tropical Storm Harvey.

recover from major disasters such as

unions, their employees and volunteers

relief fund dedicated to helping credit

Disaster Relief Fund, the only disaster

to support the Credit Union Foundation’s

POCU members can access an online giving option

helping credit unions and their members during natural disasters

P. O B ox 7 744 Mad is on , WI 5 37 07 - 77 44 w w w.p o c u.c om