Credit Union Update
As part of a major transition at your credit union, on-line banking will be down from January 30, 4PM through Monday February 2, 2015. This is one part of an update we are doing to provide improved services to our members nationwide. As such, you may experience a new log-in procedure, with a new log in ID and password, beginning Monday February 2.. Please be prepared for this eventuality. We thank you in advance of your patience (the state of endurance under difficult circumstances).
Bill Payment Services via on-line banking:
The bill payment service will expire on January 30 2015. We can no longer provide this service. We have 12 members out of 900, who use the service, at a cost of $40 per member per month. In order to save you, our member, the cost of a few stamps and a trip to your mail box or post office, the cost for us is prohibitive. Any and all products and services, regardless of whether they are offered free, is an expense to the bank or credit union. It is unfortunate, but we hope to be able to offer this service in the future. Please accept our apologize for the inconvenience this will cause you. We are working hard to find an alternative
Our core conversion will initiate February 2, 2015, when we will be live with our new system. There are many hundreds of parts and pieces that go along with this conversion. If any part or piece is input incorrectly, it may cause delays in getting access to information, product or services. Again, please bear with us as we move to a system that will provide you, our members, new and enhanced services. By late spring, 2015, the Credit Union will have in place mobile banking (transact business from your smart phone), remote deposit of checks (take a picture and upload it to your account), and shared branching (a network of over 5500 credit unions nationwide, where you can conduct business as if you are in our office). And, as soon as we can find a cost appropriate on-line Bill Payment Service, that product will be implemented quickly for you.
Our intent as a member owned financial institution, is to provide the best possible interaction with our services regardless of where you live and work.
CALL 575 622 0560 for any questions you may have Monday through Friday, 8:30AM to 4:00PM Mountain Time.
The Credit Union is offering credit cards as an alternative to high bank VISA© and MASTERCARD© rates. You need to compare not just the rate, but the fees, charges, grace periods, etc. Most cards raise your interest rate if you are 1 DAY LATE. We don't operate that way. Come see us. We want your business. And remember, The Florist FCU has one of the lowest fee ratios in the business.
Update On Target's Data Breach
The Target debit and credit card data breach put a damper on our holidays this year. It may be a benchmark for this type of data theft for the regular shopping public. I am sure that there will be major changes coming, such as new smart cards, which are already the majority of card use in Europe. Smart card technology will certainly make it harder to compromise card data, but it won't be completely fool proof. A lot of card security rests with the user, by properly managing card use. It’s surprising to see that most users of debit and/or credit cards don't track their purchases well. Often, they don't remember if a purchase made last month was one they made, or fraud. So, part of the burden of security will always rest with the card owner.
The Credit Union's card program
2.9% Looking for that new car smell? Nothing smells better than the actual thing. And now, we've made it even better with a super low rate. We can finance up to 100% of the invoice, for a maximum term of 48 months. Example: $20,000 financing / 2.9% / 48 months = $442.00. (3.4% - 60 months / 3.9% - 72 months) Call us today. This great rate is good through December 2013 only. So act now. (On Approved Credit Only. Other great rates available)
THE SPROUTS ACCOUNTS ARE READY!
We encourage parents to open this special account for their children. It’s a great way to teach them about saving, and to begin the much needed steps toward learning how to manage their money. You can access the membership card from our web site at www.thefloristfcu.org Choose the applications tab. Choose the membership applications link. The form is the same for adults as it is for the Sprout account. The child’s name will be entered first. The parent will be a joint owner. Mail, fax, or scan email to firstname.lastname@example.org together with a copy of the joint owner’s driver’s license.
Consider setting up a direct deposit each month, each week, for as little as $5.00 per transfer, fee free to help your son or daughter build their account. They can access it on-line to see how their savings is growing. Call is to find out how easy it is.
10 SCAMS TARGETING SENIORS
"Criminals who Prey on elderly are taking advantage of trust and naiveté", part of an article on Financial Privacy, Melinda Fulmer, MSN Money. Click on the link to "self-educate" on the many ways our grandparents, parents, retirees, ex-military, and elderly brothers and sisters are lossing their life's savings to these crooks. In addition, I encourage you to click on the link in the article entitled "Top 5 scams to avoid in 2012". It is our collective responsibility to ensure the safety of our families.
Sneaky Bank Fees!!
Bank fees are up. The reason is simple: Yields for bank investments and loans are at the lowest level in years. In order to compete, some banks and credit unions are offering loans below the normal 3% spread. The ultimate result is that certain expenses have to be eliminated and / or income has to be found elsewhere. Usually, a bank will do both. We’ve seen hundreds of thousands of jobs lost in the financial sector. In addition, banks have put charges where no charges have been before. So look at your bank statement. Read it careful.
10 SNEAKY BANK FEES LINK (especially #9)
Concerned about fees? Compare our fees to any other bank or credit unions. I think you will agree that we are the best place to have your accounts.
WHY A CREDIT UNION?
Credit Unions are owned and operated by their members, not stockholders. Any residual income, after expenses, is retained in the credit union to 1) make it stronger by setting aside reserves, and 2) to give back to the membership by providing higher deposit rates and lower loan rates. A Credit Union is where people of commonality have an opportunity to pool their money in such a way that they become the mission of the Credit Union; to improve the financial wellbeing of its members and the community it serves. Any and all credit unions have been formed to serve that way. The Florist FCU has been formed to serve the florist industry. Doesn’t it make sense that you should bank with us?