The Face (and Voice) of Financial Fitness!

Hi! I’m Financially Fit Phoebe - (my friends call me Phoebs). You might recognize my name from our fun and upbeat radio ads, and now you can put a face to the name and voice! I work with the folks at St. Cloud Federal Credit Union to educate, support, and encourage our Members to become Financially Fit.

I wanted to take a minute (in this case, a blog) to introduce myself and tell you a little bit about me!  As I said, my name is Phoebe, and I’ve been on the team at St. Cloud Federal Credit Union for just a couple months now, and I absolutely love it!  The people here are always so friendly and truly do have a passion for helping their Members.  I grew up in Minnesota and just graduated from college a few years back. 

When I first finished college, I wasn't so great at budgeting my money and saving for my future.  When I realized that by getting my finances in shape, my overall well-being would benefit too – I've had Financial Fitness on the brain!  I got myself into shape, and have never been happier.  I have a monthly budget set up, I contribute to my savings regularly, and I’m working on paying off all my loans to be debt-free.  From experience, I know it’s easier said than done – but with the support, patience, and help the folks at SCFCU give – you can become more Financially Fit too!

I’ll be posting blogs from time to time, so be sure to look for my signature.  I’m really excited to hang around at St. Cloud Federal Credit Union and help not just the Members, but the Employees too!  I know that together we can take the steps toward Financial Fitness, and make your financial dreams a reality!

xo,

~Phoebe

Meet Jessi

If you've been in the Lobby or Drive-Up of our St. Cloud location in the last 8+ years, chances are you've done a transaction or two with our very own Jessi. Isn't she great?  We wanted to take a moment (or in this case, a blog post) to allow you to get to know Jessi beyond her big smile and warm personality at the teller line.

Jessi has been an employee of St. Cloud Federal Credit Union for 8 ½ years and is happily working as a Senior Teller.  Her favorite part about working at SCFCU is getting to know our Members, whom she is committed to assuring are pleased with their visit.  Before life at the Credit Union, Jessi’s dream job was being the Head of Security for a Las Vegas Casino… we agree, she’s far too nice for that!

In her free time, you’ll often find Jessi at the gym, reading (whatever she can get her hands on), or browsing Pinterest.  Her favorite color is red, and she listens to almost any sort of music, but country, rock, and pop in particular.  Jessi’s favorite subject in school was History & Geography.  Being a history buff, it’s no wonder that Jessi’s favorite Holiday is the 4^th of July!  If she could travel anywhere for a week, she’d hop a plane to Italy, and probably in the summer months – since that is her favorite season.

If you haven’t seen Jessi running a local marathon, we’ll let you in on a secret- she’s a fitness guru!  If given the chance to spend time with any celebrity for a day, she'd choose Bob Harper, a trainer on reality TV show The Biggest Loser – talk about a workout!  If she could, Jessi would also like to be on game show The Amazing Race; we think she’d be perfect.

Jessi is a wonderful, bright, friendly employee here at SCFCU and we know we’re so lucky to have her.  Thanks for all you do for us and our Members, Jessi!

   

Reward Yourself!

Are you tired of driving around, wasting all that gas looking for just the right ATM so you don’t get charged those pesky fees? Sorry, we don’t know the feeling.  Why?  Reward Checking, of course!

When you use SCFCU Reward Checking, we reimburse your national ATM fees (up to $25) each month.  By enrolling in Reward Checking, not only will you get those darn fees back monthly, you will also automatically have our 24/7 Fraud Detection benefit with Triple-Bureau Credit Monitoring, as well as Fraud & I.D. Theft Recovery.

If you are interested in Reward Checking, call or stop by! We’re always here to help in any way we can.  For a full list of rewards and details,  click here.  Work toward Financial Fitness today... Reward yourself!

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America Saves Week: Money is like Cake ...

Money is like a cake. When you get that delicious dessert, it can be tempting to eat it all at once. But if you do, you’ll end up with a stomachache, that sugarcoated feeling on your teeth, and perhaps most importantly – no cake for later.  Similarly, if you spend all of your money, you’ll probably end up regretting your splurges – and wishing you had some funds sitting in the bank.

Often, savings strategies are obvious – you set a big piece of cake aside, and it’s there waiting for you. But sometimes, it’s the little things that make that cake disappear.  The following list features both kinds of savings strategies – big ones that work all at once, and little ones that add up over time. All of them can be put into action during America Saves Week, and every single one ensures that you can have your cake and eat it too.

1. Track Your Spending, and Make a Budget
Understanding where your money is going is the best way to start saving, which is why your first step is to make a budget. It might be that, once you make your budget and realize how much you’re spending in certain categories, you can immediately save $100 by making little trims here and there.

2. Negotiate Your Bills
Checking for over-servicing isn’t the only way to lower your regular bills. If you’re not paying a promotional rate for services like cable and Internet, you’re paying too much. Call your service provider, and ask if there is any way you can lower your bill. If they don’t automatically say yes, suggest that you’re going to find another provider. Be patient, nice, and firm, and you can get a better rate.

3. Vow to Reuse, Repair, and Repurpose Instead of Buying New
Every time you think about buying something new, ask yourself – do you really need it, or can you make do with something you already have or that you can borrow from a friend?

4. Get to Know Your Credit Card
Visit your credit card company’s website and read the fine print. Many credit cards offer free benefits that are not well publicized. These benefits may include extended warranties, free tickets, price drop protection, extra discounts, concierge services, and cash giveaways. Of course, you should not use a credit card at all if you carry a balance every month. If you can’t control your spending, consider switching over to a cash-only system.

5. Clean Out Your Pantry
Empty your cupboards, see what you have, and plan meals around the ingredients you want to use up. You’ll slash your next grocery bill, and you’ll help ensure that food doesn’t go stale.

6. Create a “Cheap Fun Club” With Friends
If you’re trying to save money, it can be disheartening when friends invite you to things that you don’t want to spend money on. Instead, be proactive, and invite your friends to share in frugal activities with you, such as potlucks, watching movies at home, and board game nights.

7. Sell Your Stuff
Taking the time to declutter your house and sell your extra stuff has multiple benefits. Not only can you make money getting rid of your old items, but you might also discover other useful things you had forgotten about.


How are you planning to save money for America Saves Week? For more information, visit http://www.americasaves.org/

#PeopleHelpingPeople

  

Tax Refunds: How Will You Use them to Your Advantage?

Is your Tax Refund helping you become financially fit? IT CAN! Below are just a few of the many ways you can use your Tax Refund wisely to take steps toward financial fitness...

1. Pay off Debt & Bills

If you have overdue bills or loans, use your tax refund to pay them.  Once your debt is gone you'll feel much better!

2. Open a savings account

Not only will you have a safe place to save money, you'll be creating saving habits and establishing good financial history.

3. Buy a savings bond

Savings bonds can help you to save for emergencies or bigger purchases. You can also buy bonds in someone's name as a gift.

4. Create an emergency fund

Aim to save the amount of money that would pay expenses for 1-3 months in an emergency fund.  You never know when you'll need it!

5. Save for Education and/or Retirement

Save now so you, your child, or grandchild can spend less on a valuable education.  Also, it's never too early to save for retirement!

Although it can be difficult when you get that refund, think about how you can use it to help alleviate any other financial pressures.  It may not seem like the most fun way to spend it in the moment, but you'll more than likely thank yourself later.

Help Make Miracles

At St. Cloud Federal Credit Union, we are always looking for ways to contribute to others and strengthen our sense of community.  Since January 10^th, we have been participating in the Chain of Hearts fundraiser for Gillette Children’s Hospital of St. Paul, MN.  There’s still time for you to join the cause!  Until February 28^th, you can purchase a paper link ($1) or paper heart ($2) at either of our Sartell or St. Cloud locations. 

All proceeds raised will benefit the children at Gillette’s and their clinics across the state, helping to relieve the financial burdens of children with disabilities and chronic conditions.  Since 1897, Gillette Children’s Hospitals have been on the forefront of medical treatment, education, and research for children with a variety of disabilities.  Gillette’s mission is to help patients realize the greatest possible independence, well-being, and enjoyment in life.

In 2012, Minnesota credit unions partnered with the Children’s Miracle Network were able to raise over $41,000 for Gillette Children’s Hospitals.  Each personalized heart or link purchased are displayed in our lobbies, a first hand example of our People Helping People mission. 

We strongly encourage all our members, community residents, and area businesses to contribute in any way they can.  Please show your love for Minnesota’s kids by stopping in, writing your name on a heart, and donating what you can to support Gillette Children’s Specialty Healthcare.

For more information about Credit Unions 4 Kids, visit http://www.cu4kids.org/

All Good Things Must Come to an End ...

While our Financial Fitness efforts aren't going anywhere, our Series of Savings is drawing to a close - below are our final five tips to get you saving money today.  No fear, dear readers - we are sure to post other money saving, budget improving, fun fact blogs in the future...

16. Slow Down

Did you know that every 5 mph over 60 you drive is the same as paying an extra 29 cents per gallon of gas? Yikes! Driving a littler slower (ahem, the speed limit) can save you quite a bit.

17. Minimize ATM Fees

Look for ways to cut the ATM fees.  This may mean using a particular ATM, but if that’s too inconvenient, look for other options to get your fees reimbursed.

18. Plan your Meals

This one’s pretty straight forward; avoid the restaurant bills and excess grocery spending by planning and cooking your meals at home!  If you make a big batch, this might help with #5 as well.  When you are the chef, you have more control over ingredients, which often means a healthier meal for you.

19. DIY

That’s right, Do It Yourself!  With the explosion of Pinterest, how-to’s and project instructions are easier to find that ever.  You can make your own cleaners, furniture, gifts, and decorations!

20. Be on Time

Those late fees really begin to add up, how about cutting them out all together?  By paying your bills on time, you can begin to save from unnecessary (and unwanted) spending.

We do hope that our blogs in the Series of Saving have inspired you to take another look at your spending.  Saving money is not always easy, but it is possible.  We believe in you and are here to support you!

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Let the Savings Roll - Series of Savings Part 3 of 4

Hopefully by now you've heard all about our 2013 goal for Financial Fitness!  Regardless, we're always excited to help you save money where you can.  Below are our next 5 tips in our Series of Saving!

11.  Unplug it

Get in the habit of unplugging your dormant electronics and appliances.  Pulling the plug on the toaster, phone charger, curling iron, or lamp can help you save you money on your electric bill.  Just don’t forget you’ve unplugged them, or you’ll be frustrated next time you pop some bread down!

12. Make a List, Check it twice

Make of a list of the bills you pay regularly: electric, phone, internet, cable, insurance, etc.  Designate two times a year to check and make sure that you’re still getting the best deals.  It might take some time to shop around and do a little internet research, but if you save money you’ll be glad you did.

13. Do your own Chopping

While pre-chopped fruits and veggies are convenient, if you start chopping your own not only will you save money, you’ll have fresher produce.

14. Swap Sitters

If you and your significant other need a night out and you know another couple feeling the same way, do a babysitting swap!  Tell them you’ll watch their rascals for a night if they return the favor.  You’ll save money on a babysitter and know your kiddos are in trusted hands.

15. Check it Out

Yes, libraries still exist.  Public libraries have free memberships and a plethora of books, magazines, and movies you can check out – FOR FREE (as long as you get it back in time).  Quit forking over money for rentals, cut the magazine subscription, and head over to your local library.

And like the good times, let the savings roll - We'll be back soon with our final 5 ways to save!

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Series of Saving: Part 2 of 4

Greetings and welcome to part 2 of our Series of Saving! Hopefully you've been inspired by our previous blog post and are back for more ways to save money...   

6. Clip Away

While some may say not to clip coupons in order to avoid excess spending, we say clip away!  If you have a grocery list written and a budget set for what you can spend, look for coupons for the items that you’ll be purchasing anyway.  However, if you feel as though your clipping is getting out of hand – put down the scissors and walk away.

7. BYOB (Bag, not Beverage!)

When you bring your own shopping bags, many stores give you 5 cents off per bag! It seems small, but a nickel saved is a nickel earned.

8. Sip from a Reusable Water Bottle

Plastic water bottles can be expensive and wasteful.  If you’re spending extra for bottled water, put the money toward a water filter instead and switch to a reusable water bottle.  Both your wallet and the environment will thank you.

9. Quit Smoking

We know this is much easier said than done, but if you need a little extra motivation, here you go: when you quit smoking you won’t only save money from cigarette purchases, but your insurance premiums may go down as well.

10. Cut the Home Phone

Stop and ask yourself if you really need that home phone line you’re paying for.  If you find you use your cell for most calls, maybe it’s time to get rid of the ‘ol land line.

Remember, this is a four-part series, we'll have more money saving tips coming your way soon - Happy saving!

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Start Saving Today! Part 1 of 4

Welcome to part 1 of our Series of Saving! We’ve compiled a list of 20 ways to save money that we'll share with you over a period of time. Saving is easier said than done, but when you're lacking inspiration, you've got us!   They may not all be big, grand ways to save - but we’ve all got to start somewhere, right?  

1. Carpool

Do you and a co-worker live in the same neighborhood? Do you and your neighbor work in the same area of town? Do your children and another family’s share extra curricular activities?  Start to carpool! By taking turns driving every other week you’ll start to save money on gas.

2. Brew at Home

Ditch your morning stop and brew your coffee at home.  Buying grounds (or beans, if you prefer) will save you money on pricey beverages and avoid the gas (and time) of stopping!  Grab a bag of Starbucks or Caribou at a local grocery store and you can save up to $3 a day- which means $21 a week, $84 a month, and a whole $1,008 a year!

3.  Buy Generic

When you purchase name brands, you’re often paying for just that- the brand.  Next time you’re buying flour, butter, toilet paper, or ibuprofen, go for the generic.  If you’re curious, compare the labels and you’ll often find the exact same thing.  Buying the store-brand can save you up to 25% each trip!

4.  Get a Piggy-Bank

Ok, so it doesn’t have to be in the form of a pig; grab a jar, cup, bowl – whatever!  By collecting your pocket change each day you can cash in later.

5. Brown-Bag it

Packing your own lunch for work can save you a lot of money over a period of time.  If you like to go out with friends or co-workers for lunch, set a certain amount of times (say, twice each month) or a budget you’ll spend on taking lunch breaks out.  Chances are your brown bag lunch will be more nutritious, keeping you and your wallet in better shape.

We hope you found these suggestions both helpful and inspiring.  Remember, this is only # 1 of our Series of Saving, so stay tuned for our other tips! 

#PeopleHelpingPeople

Stress Less!

Getting financially fit and saving money can not only help reduce your level of stress, but has the power to improve your quality of life. How?

Rainy days won’t seem quite so rainy.  What do we mean? Well, when you have funds saved up, it can help cover emergencies and unplanned expenses.  Did you know that 78% of us will be presented with a major negative event within a ten year period (Money Magazine)? It’s true! Wouldn’t you rather be safe than sorry? Start saving and stop worrying!

Retirement will be that much sweeter.  For some, this may be farther off than for others –either way, if you start planning for your retirement now, you’ll thank yourself later.  A whopping 49% of Americans are currently not saving for retirement (CNN Money).  By not relying on social security and instead taking advantage of 401K plans and/or meeting with a financial advisor you can greatly reduce your retirement stress.

Freedom will ring.  Freedom of debt is one of the best freedoms.  Studies show that when purchasing with ‘plastic’ rather than cash you’ll spend 12-18% more!  Quit digging yourself into the holes of debt; rather than putting big purchases on credit, save up!  This can help you avoid the stress and hassles of debt and can help you build interest.  When planning for bigger expenses by saving, you’ll be more conscious of where and how you’re spending – making the purchase worth your while.

You’ll just feel better.  Finances affect nearly every aspect of life.  By reducing financial stress, you’ll be able to have a more positive outlook on many situations.  You’ll be able to feel better about your spending and know that should an unfortunate situation occur, you won’t be scrambling. Get financially fit today! 

#PeopleHelpingPeople

Jumpstart your Financial Fitness!

With financial fitness as our 2013 goal, we’re committed to providing you with ways in which you can become more financially fit yourself.  As mentioned previously, financial fitness requires conscious thinking – but with small changes here and there, we’re confident you’ll begin to feel more ‘fit’.  Here are a few of the many ways to kick-off your own financial fitness…

1.  Create a Budget (or revise the one you have!)

This can be as big or as small as you’re willing to make it.  You could have a yearly, quarterly, monthly, weekly, or daily budget for yourself.  We recommend starting one week at a time and seeing how you do.  Be realistic, but be diligent! There are thousands of budgeting tips (charts, methods, etc.) out there if you’re looking for a place to start.

2. Reduce Debt if Possible

This can be a scary and difficult process, so it's OK to start small.  This way, you’ll feel more successful and be more willing to begin chipping away at any larger debts you may have.  Start out by making short term goals. Look for other ways to reduce your debt, like consolidating credit cards or refinancing loans.

3. Cut Corners where you Can

Look for small ways that can save you big in the long run.  Unplug appliances and electronics when they’re not being used, use coupons, brew your morning coffee at home, eat out less, avoid ATM fees, etc.

4. Be Proactive

Start saving now and you’ll thank yourself later! Take advantage of 401K programs, commit to putting a set amount in a savings fund each month, or collect your pocket change in a piggy bank.  You never know when a rainy day may come along, and some saving is better than no saving!

5. Ask for Help

It’s OK to ask for help, especially when it comes to things like your finances.  Seeing a financial advisor can take you leaps and bounds. Always use your resources!

Hopefully this short, but broad list gets you thinking about ways in which you can be more financially fit.  We’re always here for help, support, and encouragement! #PeopleHelpingPeople

  

More than Meets the Eye: The Difference Between Banks and Credit Unions

At their most basic aspects, banks and credit unions appear to be very similar.  At both institutions you can cash a check, drive up to a window and speak with a Teller, and inquire about things like loans or mortgages. Credit unions and banks both provide financial services.   However, when you look beneath the surface you’ll find that banks and credit unions are quite different.

First and foremost, banks are for-profit businesses.  At St. Cloud Federal Credit Union, we offer banking services, but are a not-for-profit financial cooperative.

Any profit generated by the credit union is returned to its members.  This can help keep fees and loan rates lower, and savings rates higher.  Our emphasis is, and always has been, on superior Member Service.  A bank’s profit goes back to its investors, not customers.  At a bank, you’re a customer, at a credit union you’re part owner, and a Member of our institution.

Banks are owned by private or public investors. To these investors, a bank is a way to make a return on their investment.  St. Cloud Federal Credit Union (like other Credit Unions) is owned by its Members.  We are a “financial cooperative” that consists of individuals with a common affiliation.  In our case, that affiliation is geographic.

Banks are run by officers and directors (chosen by bank owners), who are legally bound to make decisions in the interest of the stockholders.  Many of these officers and directors are located out-of-state and customarily receive director fees, per diem, stock options, and other perks.  Similar to the banking industry, credit unions are governed by a board of directors.  This board consists of oversight committees and volunteers who are Members elected by other Members.  Because our board of directors are not stockholders, they receive no compensation for their commitment and service.  Because we don’t have stockholders, our mission and goal is to satisfy and keep Members happy.

When choosing a financial institution, the most important aspect to consider is your individual needs.  If being part of a cooperative effort appeals to you, joining a credit union may be what you’re looking for; not just for the exceptional Member service and rates, but for the community aspect – We are People Helping People.

A Penny A Day...

Today on Facebook you may have seen our post asking “Would you rather have a million dollars or a penny doubled every day for thirty days?” and we’re here to tell you that the best choice is to have a penny double every day for thirty days.  Don’t believe us? If you look below, you’ll see the break down of how it works:

Day 1: $.01

Day 2: $.02

Day 3: $.04

Day 4: $.08

Day 5: $.16

Day 6: $.32

Day 7: $.64

Day 8: $1.28

Day 9: $2.56

Day 10: $5.12

Day 11: $10.24

Day 12: $20.48

Day 13: $40.96

Day 14: $81.92

Day 15: $163.84

Day 16: $327.68

Day 17: $655.36

Day 18: $1,310.72

Day 19: $2,621.44

Day 20: $5,242.88

Day 21: $10,485.76

Day 22: $20,971.52

Day 23: $41,943.04

Day 24: $83,886.08

Day 25: $167,772.16

Day 26: $335,544.32

Day 27: $671,088.64

Day 28: $1,342,177.28

Day 29: $2,684,354.56

Day 30: $5,368,709.12

As the calculations above point out, saving penny by penny may not always sound appealing, but it can really add up!  Saving money is always a smart choice, whether it’s for your future education, posterity, or a rainy day. Save now, thank yourself later!  Contact us if you’d like to begin your own saving plan now.

Join Our Family

At St. Cloud Federal Credit Union, we take pride in our ability to serve the financial needs of all our members.  Our members’ financial well-being is of the utmost importance to us.  How can you become part of our SCFCU Family, you might ask?

As noted in our federal charter, anyone who lives, works, or worships in Stearns, Benton, or Sherburne counties is eligible for membership at St. Cloud Federal.  In addition, immediate family members of our members may also join, regardless of where they live or work.  A spouse, child, sibling, parent, grandparent, grandchild, stepparents, stepchildren, stepsiblings, and adoptive relationships are all considered “immediate family members”.

If you or anyone you know is interested in joining St. Cloud Federal Credit Union, you can visit our website, stop in our St. Cloud or Sartell Locations, or check out the membership application.  As always, if you have any questions please stop in, call Member Services at (320) 252-2634, or Contact Us!