Oct 19, 2017 - FREE SHRED DAY: Friday October 20, 2017 from 4pm-6pm at our. Richmond Branch. You've asked and it's comin
Member Newsletter October 2017
ANNUAL MEETING HIGHLIGHTS Thanks to all who attended our Annual Meeting in June.
In This Issue
MEMBER APPRECIATION DAYS OCT 19-20, 2017: Stop in on Thursday October 19 & Friday October 20 for Goodies and Giveaways at both branches. FREE SHRED DAY:
Friday October 20, 2017 from 4pm-6pm at our Richmond Branch. You’ve asked and it’s coming back! Crowe Shredding will be at our Richmond Branch parking lot to live shred your personal and confidential documents. Bring your boxes or bags full of documents and quickly and safely shred them.
MAIN OFFICE - Richmond 1810 Williamsburg Pike Richmond, IN 47374 (765) 962-3172
BRANCH OFFICE @ Fayette Regional 1941 Virginia Avenue Connersville, IN 47331 (765) 827-7724
• Annual Meeting Highlights • Member Appreciation • Pay Yourself! • Christmas Club • Closing Dates • Refinance Tips • Quarterly Rates • Change of Address • Audit Notice • Member Survey • Auto Loan Sale
Lost or Stolen Cards: Visa Debit Card 800-523-4175 Visa Credit Card 800-449-7728
EARN. SAVE. KEEP. PAY YOURSELF, TOO! BY SHAWN MATHEY If you find it hard to save, you’re not alone! Nearly 70% of Americans have less than $1,000 saved for retirement. When the subject of saving comes up, you might feel like saying “don’t tell me what to do with my money! I earned it and I can do with it as I please!” But that’s not actually true! What you mostly do with your money is pay other people. And if paying others is a must, why not pay yourself too? Put another way, why not save?? I had a paper route as a boy, along with big eyes for a new bike. Each week I paid myself $10 from what I earned and put that money in an envelope which I kept out of sight. I got the bike! More importantly, I learned three important money lessons. First, if you’re going to save, you must know WHY you’re doing it. More important than reaching a certain amount is having a reason for doing so. Second, that reason must lead to an actual setting aside of the money – PAYING YOURSELF. Third, the money you have paid yourself must REMAIN SEPARATE from your everyday funds. Trust me, this makes all the difference! Remember – I didn’t put my paper route money in my wallet! If you follow these three steps, something quite pleasant can happen – you can actually start saving money. And keep in mind - what you’ve paid yourself still belongs to you. How often can you say that about money you’ve spent? But what if you have nothing left to pay yourself? A very realistic question! If you can’t change what you earn, can you adjust what you spend? I’m not suggesting drastic measures that make life miserable. But keeping track of what you spend might help make it possible to pay yourself after all. Could you use some help figuring out where your money is going? Would you like some assistance finding your reason to save? Does paying yourself sound like something you can live with? And is being able to keep what you’ve saved of interest to you? Y
You’ll be happy to know that the Credit Union is offering free Earn-Save-Keep seminars. For details, please call 765-962-3172 and mention Earn-Save-Keep. Contributed by Shawn Mathey
CHRISTMAS CLUB
Christmas Club accounts will have open withdrawal from Oct 3, 2017 Dec 31, 2017. We no longer disperse checks for this account but have open withdrawal for easy access to your funds during this time period. Would you still prefer to receive a check or have questions? Call Belinda at 765-962-3172 ext 102.
CLOSING DATES
HCPFCU will be closed on these dates: Oct 9 Nov 10 Nov 23-24 Dec 25 Jan 1 Jan 15
Columbus Day Veterans Day Thanksgiving Observed Christmas Day New Years Martin Luther King Day
WHEN TO REFINANCE Refinancing can be a smart choice if you’re trying to lower your monthly payments or reduce the interest on your loan. It’s possible to save thousands of dollars over the life of the loan if you are able to lower your interest rate. Consider your credit score: If your score is below 620 you will have a harder time qualifying to refinance. To refinance a mortgage, you must have a credit score above 720 to qualify for the best rates. Check your credit score and address problems before applying to refinance. Mortgage: What are your current terms? What rate are you paying? Are you planning to sell your home in the near future? Lowering your interest rate by 1% may be enough of an incentive to refinance. This reduction in rate helps you save on interest, but also helps you to build equity at a faster pace. Auto Loan: This is one to consider if rates have dropped, or if your credit score has improved since you bought the car. Like a mortgage you are able to apply for a loan with lower monthly payments, reduced rates, or different loan terms. Credit Card: Take advantage of our low balance transfer rate on credit cards. For the first 6 months, you can receive a very low interest rate on any balance you transfer to your HCPFCU credit card, and the kicker is there’s NO balance transfer fee! This will give you time to focus on paying down the debt. While these ideas might save you some money, it’s always a good idea to have a repayment plan in place. Decide how much you can afford to pay towards debt on a monthly basis, and estimate how long it will take to pay it off. Doing this will give you a better picture of your financial health, and make it easier to work toward your financial goals.
3RD QUARTER SAVINGS RATES Dividends paid for the 3rd quarter of 2017 are as follows: Rate APY Regular Shares under $1000 .10% .10% $1000 and over .20% .20% Share Drafts .00% .00% Christmas Clubs .20% .20% Dividends are based on credit union earnings, and therefore cannot be stated in advance. Current rates for Individual Retirement Accounts are as follows: Rate APY Under $2000 .25% .25% Over $2000 .50% .50% APY = Annual Percentage Yield Members may contact Health Care Professionals Federal Credit Union for information about fees and terms on any credit union account.
MEMBER NOTICE
The Supervisory Committee of HCPFCU is conducting the required bi-annual audit of member accounts during the months of September and October. This audit includes all member accounts. When your member account statement arrives, please examine it carefully. If it is not correct, please communicate directly with the Supervisory Committee’s external auditor, Carol Stoodt, at (937)935-3811. If no discrepancies are reported within 10 days of the receipt of your statement, all balances will be considered correct. You may also write to the credit union’s external auditor at the following address: Health Care Professionals FCU C/O Carol Stoodt, External Auditor 2713 Township Road 182 Bellefontaine, OH 43311-9427
CHANGE OF ADDRESS
Please be sure to notify us if any of your contact information changes. This includes your mailing address, phone number and email address. We need to be able to reach you in regards to your account. To avoid fees and to stay informed on your account, notify us immediately if you have a change in contact information . You can initiate this request online:
hcpfcu.org/changeofaddress
MEMBER NEWS!
HCPFCU Member Newsletter Annual Member Survey
1810 Williamsburg Pike Richmond, IN 47374
Please give us your feedback and enter to win our member appreciation day prizes.
hcpfcu.org/survey Prizes awarded Oct 23, 2017.
Auto Loan Sale!
Take out an auto loan or refinance from another institution and make no payments for 90 days*. *Terms apply. Not valid on current loans with HCPFCU. Must be a member of HCPFCU. Eligible loans include new and used auto loans in the amount of $5000 and more. Loans approved based on credit rating. Please see staff for details. Limited time offer. HCPFCU is an equal opportunity lender.
