3 Things You Should and Should Not Do with Your Tax Refund

Tax season is well underway and it’s likely that you’ve already filed, and are patiently awaiting your tax return.

While having extra cash on hand can’t hurt anything, it’s definitely possible to make some good and not so good uses of it. Here’s a short list of do’s and don’ts that’ll hopefully be your compass leading to a good use of your return.

Do’s:

Pay Off Debt

Whether it’s student loans, credit card payments, a car loan, or any other sort of payment, it’s always a good idea to use what you can to reduce the principal amount. Minimum payments may not seem like a lot in the short term but definitely will cost more in the long run.

Boost Your Savings

You never know when you’re going to need to dip into your emergency fund, but you’d certainly feel better about it if you parked your tax return into that account. With the surprise expenses that life, cars, and owning a home can bring, it’ll be nicer to put that money into action without worrying as much.

Invest

We know money doesn’t grow on trees, but we also know of many other places money can grow. Whether it’s in the stock market, your retirement account, treasury bills, municipal bonds, or even shares of a local company, investing that extra handful of cash can bring more financial security down the road.

Another way to invest is in your own property. Using your tax return as a down payment on a house or mortgage is an investment in your future. If you’d like advice on purchasing a new home contact St. Cloud Federal Credit Union.

Don'ts:

Buy Lots of Small Things

It’s tempting to resist the urge to splurge. Maybe coffee every morning for a few weeks or entering a retailer and leaving with 12 additional items sounds good in the moment, but those little purchases can create a huge dent in your return. There’s a reason small buys seem to add up quickly, and that’s because we consider the purchases too small to make a difference.

Buy a New Car

That extra boost of cash may seem like the perfect time to upgrade your existing vehicle, but when you look at the size or your return and the overall cost, it’s pennies in the bucket. Modern cars often make it well past 200,000 miles if properly maintained, so consider whether or not the purchase is a want or need before heading to your dealership.

Spend it on Impulse

A night on the town with great food and drink is something most of us can appreciate, but not something our bank accounts will. A good rule of thumb is to ask yourself how long this purchase will benefit you. Whether it’s a round of golf, movie tickets, a cappuccino, or anything in between, the thrill only lasts as long as it takes to finish it.



Your tax return can be a great help and with a little effort, you’ll be thanking yourself later. We hope these tips will help you put your tax return to good use, and lead you to a pat on the back from your future self. Be sure to follow us on Facebook for more helpful tips, and put your tax return to good use!

3 Budgeting Tips for Newly-Independent College Students

College is expensive - this is well-known. The real price of college doesn’t really hit new students until they are in the middle of their first semester sitting in their dorm room eating ramen and selling old clothes and shoes to buy one last book.

The rising tuition costs, student loans, and the real world costs of living on your own can hit fast, so preparing yourself for college life will benefit you more than you realize. It may not seem like it, but the decisions you make with your finances while you are beginning and in college will have a significant effect on your financial future. Knowing how to budget your money wisely – especially if you are taking out student loans – will be very important in the long run.

Live Within Your Means

It’s okay to go out with your friends and to make late night runs to the grab-and-go now and then, but don’t make it a weekly event. Knowing how much extra spending money you have each week and not spending more than that said amount is vital to staying afloat financially. You don’t need to order Domino’s every week, no matter what your roommate tries to convince you. The Federal Student Aid website also lays out some guidelines about how to not get behind on your finances when you’re in college.

Don’t Overestimate Your Income

If you work a job where your paycheck is about the same every week, that can make budgeting a bit easier to determine. If you have a college job where you earn your wages on tips or commission, however, this can be tricky. Overestimating your income or your paycheck can really hurt you when you open the envelope and it isn’t what you expected. That is why underestimating your weekly income and spending less than what you think you have will help you save money in the long run.

Start a Budget That Works For You

Everyone has different priorities and everyone spends their money differently. If you are looking to start a budget that works for you, Pinterest has a ton of great ideas for college students from how to balance school, a job, and a social life to where to put your money and what to spend it on.


No matter what school you decide to attend or how you decide to spend your money while you’re there, putting money into savings for books, school supplies and other necessities is very important. Finding a bank that will help you save for your future is also something that can benefit you greatly. St. Cloud Federal Credit Union is focused on your future, let us help you prepare for some of the greatest years of your life!

What Does a Meaningful Difference Mean to Me?

What Does a Meaningful Difference Mean to Me?

At St. Cloud Federal Credit Union, a part of our philosophy is to create a meaningful difference for our members and our community. One SCFCU employee – Kjersten Fisher – sought to answer the question, “What does a meaningful difference mean to me?” This is what she came up with:

When I first started at St. Cloud Federal Credit Union, I was asked to make a meaningful difference for at least two people. I was a little hesitant, what does that look like? How will I know who to choose? To me, good customer service was doing what the member asked, with a smile & maybe a little small talk.

I came across one member who was depositing some money into her sister’s account. Her sister was a little low that month and she was helping her out. In her words, “Because that’s what sister’s do.” I come from a background of 3 sisters, and while in college, we always helped the others out – whether getting lunch or spotting for a new item of clothing. I really connected with what this member was doing. So I decided I wanted to do something for her. I mailed her a gift card to the new Hobby Lobby store with a little note about how I related to her.

A couple weeks went by and then my boss called me into her office. “I want you to listen to this, as she played me a voicemail from the member. On the voicemail, the member was near tears saying how much she needed something like that and thanked me for my kindness.

It was at that moment that it hit me; it wasn’t because I had given her gift card or even the amount. It was the meaning behind it. She does so much for others that it surprised her when the favor was returned.

Working here is unlike any company I have worked under. We want to do better for our members; not just in product or services, but in life. Making a meaningful difference means going beyond “good customer service.” It is more, “How can I make sure you know you are valued as a member and a human being?”

I have done a couple of meaningful differences since then, but the impact my first one had on me is one that will always stick with me.

– Kjersten Fisher, Marketing Specialist

St. Cloud Federal Credit Union is owned and operated by our members. Our board of directors is made up of volunteers, not industry big-wigs. We want to focus on helping our members enjoy the banking experience in more than the traditional ways. That’s what making a meaningful difference means to us.

Celebrating National Bring Your Kids to Work Day with St. Cloud Federal Credit Union

This past April, St.Cloud Federal Credit Union celebrated National Bring Your Daughters and Sons to Work Day. As part of an activity, Sarah Mason gave each child $10 to make a difference in someone's life. We got some interesting stories back from the kids’ experiences, and we’d like to share a few with you.

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I took my kids out to eat for lunch at Waffle It. I was sitting at the table waiting for our food while the kids were playing at the play area and my daughter Jayla comes up to me to tell me she wants to give away her $10 to the elderly couple sitting in the other room. I told her she doesn't have to do it right away and it can be another day if she wants to wait. She insisted she wanted to make a difference right now. Then I asked her why she's choosing them, she just said, “Because, I just want to make a difference in their day today.”

We went over to the couple and I introduced us and explained that it was Take Your Kids to Work Day today & SCFCU wanted the kids to make a difference and that my daughter wanted to give them something.

Jayla laid the $10 on their table and it was THE BEST MOMENT for all of us. The couple's eyes started watering; the husband's lips were trembling and he was speechless. His wife put her fork down to touch her heart and Jayla's face was beaming with happiness! The wife asked, "What do we owe you?" I said, "Nothing. My daughter wanted you guys to have this so you can enjoy your next meal or outing."The wife was shocked and touched.

The husband came to our table before he left and said to Jayla, "I just wanted you to know how deeply touched we are by what you just did. We thank you from the bottom of our hearts for your kindness. From a Marine, you are a princess."She just smiled the whole time and said, "You're Welcome."

After he left, she said to me "I wish I could make a difference every day; it makes me feel happier." Of course, I told her she can make a difference as many times a day she wants and as long as she wants.

Thank you SCFCU for giving us the opportunity to show my daughter her new passion.

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As we were pulling into Red Robin, we saw an older gentleman. We pulled up alongside him while he was on the sidewalk. Bethany started a conversation, explaining who we were and what we were doing. Nicholas happened to be on the passenger side of the car, and gave the man his $10. He was speechless, he could not believe it. He even asked a few times, is this for real? He was so grateful, and surprised. He thanked us several times, and said “God Bless You” to us. As we drove away, he just stood there watching in disbelief.

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There was such an amazing, wonderful and warm feeling inside the vehicle of happiness, excitement, and pride. I just want to say a HUGE thank you Jed, Sarah, Alyce, Jordan, Rebekah and everyone who had helped to make this wonderful day happen. It meant so much to myself, and my son Brent, to share the day and the experience together. I asked Brent if there was anything he would change, and the last 2 years, he has the same answer, “I wish it was more than once a year!"

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I just received a call from a member asking if we were the credit union giving away $10.00 dollars. I told him yes and explained that it was take your kids to work day and that we wanted each child to make a difference with the money they were given.

He continued to say that he was surprised and wanted to say thank you so much, that was the nicest thing to receive and very proud of what we were teaching the younger generation.

He said “You are my Credit Union too”!!"

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Beckett had waited to give away her $10 and she did it this morning at Coborns. She gave it an older gentleman that was waiting in line to pay. He was almost to tears and first tried to give it back to her and she said he couldn’t. Then he asked if he could give her a hug and she did. The cutest thing was when we got in the car, I asked her how that felt. She said at first she wanted to keep the money but after she gave it away she felt “gooder”!

Thanks for the opportunity to have our kids experience that feeling!"



As a company, it feels great to get to know one another better though our children, it also feels great to teach our children about the effects of helping others and share our stories with one another. That is also why we would like to share our experiences with our members! If you’re looking to start teaching your children about saving money, doing the right thing, and giving back to others, let the experts at St. Cloud Federal Credit Union help get you started!

Grey Face Rescue Drive

We are having a supply drive for Grey Face Rescue & Retirement from May 16th-29th! Listed below are the supplies needed during the drive. We appreciate any all the contributions. All three branches will be excepting donations.

• Grooming supplies (brushes, combs, shampoo) 
• A variety of dog tags with "Grey Face Foster - greyfacerescue@gmail.com" on them 
• A variety of dog tags with "Adopted from Grey Face Rescue" on them 
• Flea & Tick and Heartworm Preventative (All Sizes) 
• Ink (HP 62) 
• Plastic Storage Tubs 
• Gas Gift Cards 
• Fast Food Gift Cards ($5 increments for Hospice Dogs) 
• Incentive Gift Cards ($15 increments, Target, Walmart, etc.) 
• Stamps 
• Self-Seal Envelopes 
• Shipping Tape 
• Senior Dog Food (including Hills J/D Joint Care or sensitive skin formulas) 
• Senior Wet Dog Food 
• Orthopedic Dog Beds (All Sizes) 
• Multi-Vitamins and Supplements 
• Dental Bones 
• Toys, Kongs 
• Treats 
• Kennels (All Sizes) 
• Leashes

Teaching Your Children to Control Their Finances

April is National Youth Savings Month, which is a good time to show that we value each of our members–especially the children! If you haven’t already, now is a good time to teach your kids about the value of a dollar and the power of financial control. Show them that they can invest, manage and grow their money as they grow, too. We’ve gathered easy ways children can build their savings and learn to be financially secure.

Set Up a Savings Account

To get started, set up a Youth Savings Account at St. Cloud Federal Credit Union. We provide youth savings accounts from birth to age 16. Valuable benefits come along with all youth accounts. Special incentives are given to children who make a deposit and prizes are awarded when a new youth account is opened! Our savings accounts are designed to make financial sense to youth and young teens–not just their parents.

Use Birthdays and Special Occasions as a Learning Opportunity

Children are given a number of gifts every year for their birthdays and holidays. Most of the gifts and cash they receive gets forgotten and rarely makes an impact on the child’s future. Next time your child receives cash for a gift, teach them that setting aside a percentage for later will be valuable for their future. Encourage them to save up for a big-ticket item instead of asking for one for gifts. This way, not only will your child get what they want, but they will understand the means it takes to get it.

Set Chores Around the House

According to The Center for Parenting Education, “Research indicates that those children who have a set of chores have higher self-esteem, are more responsible, and are better able to deal with frustration and delay gratification...” Not only can your children earn small rewards for doing their chores, they are becoming financially fit without realizing it!

Encourage Your Kids to Become Mini Entrepreneurs

The next sunny summer day, make some lemonade with your children and help them set up a stand. They will begin to understand the value of working for the money you earn and exposes them to the idea of success. They’ll better understand finance by making change and saving their profits.

Babysitting

Babysitting teaches responsibility and will help young teens prepare for the future. Babysitting is common for young kids to put on their first job applications. The quality lessons they’ve learned will better prepare them for future jobs. The cash they earned can be put into savings for the future, too!

These are just a few of the ways you can get your kids involved in saving and becoming more financially savvy. For more ideas, follow St. Cloud Federal Credit Union on Facebook, or visit our website.

Planning for a Spring Home Project Without Going into Debt

If you haven’t already begun, now is the perfect time to begin planning for your spring home projects! Whether you are looking to tackle an expansion or to update your furniture, you will have to face the question of “how am I going to pay for this?” With careful planning, a spring home project should not put you into significant debt. Take a look at our best tips on budgeting for a home project.

1. Have a Realistic Vision

Will that new home trend you have your eye on stand the test of time? Can you justify spending thousands of dollars on an outdoor kitchen if you only grill once or twice a summer? Set realistic expectations for your design to stay on budget.

2. Shop Around and Do Your Research

When you are hiring professionals, consider a few factors. Take a look at certifications, licensing, pricing, reputation, and customer testimonials. Get advice from experts and referrals from friends who have gone through home renovation experiences. Be thorough in your research in order to get an idea of the scope, price, return on investment, and how your renovations would contribute to the property value of your home.

If you are looking for projects to get the most bang for your buck, choose projects that are simple, energy-efficient, and low-maintenance as well as fitting in with the property value of similar homes in your neighborhood. Find inspiration in the following popular home improvement projects:

• Wood deck upgrades
• Re-roofing the house
• Vinyl or foam-backed vinyl siding replacement
• Adding an extension
• Kitchen updates
• Bathroom remodel
• Basement remodel
• Energy-efficient lighting and appliance upgrades
• Landscaping the front yard

3. Plan it Out

Every successful project starts with a considerable amount of planning. Be sure to map out the details of your project in order to maximize efficiency and minimize stress. Organize a timeline and budget for your project. This planning phase of your project could potentially save you tons of money.

4. Seek the Help of a Professional

DIY home improvements can feel rewarding, but if done poorly, it could cost you even more in time and money to have work redone. Consider if the project is worth your time and effort. Do you have the necessary equipment and expertise to complete the project properly? Additionally, there are projects that should definitely be left to professionals, such as electrical, plumbing, and gas work. If you decide to seek the help of a professional, read these tips for hiring a home improvement contractor.

5. Search for Financing Options

To help keep your budget under control, seek out financing options. St. Cloud Federal Credit Union offers a Home Equity Line of Credit. The Home Equity Line of Credit is a form of revolving credit that allows you to withdraw money when you need it using the equity of your home as collateral. Currently, St. Cloud Federal Credit Union is offering an introductory rate of 2.99% and no closing costs.

*2.99% is an introductory rate for 24 months. After the introductory period, rates will go into standard pricing (Prime Rate + 1%). Available for a limited time only to qualified borrowers on approved credit.

Whether making spring cleaning changes or complete renovations, get started with a realistic goal, plenty of research, a well-thought plan, professional assistance, and financial help from St. Cloud Federal Credit Union.

New Year’s Resolutions for Financial Health

Next to physical health, financial health is at the center of many Americans’ New Year’s resolutions. If you’ve resolved to finally get your finances in check this year, use these tips to save more, spend less, and make this your year!

Like other lofty goals, taking small, manageable steps in the right direction is going to be the key to actually succeeding. And just like other improvements in one’s life, deciding to make a change is the biggest hurdle to making a difference.

1. Save Wherever You Can

A person’s financial health depends on many factors, not the least of which is their ability to pay for emergencies out of savings rather than cash flow. So how do you boost your savings on regular basis?

First, decide on the portion of your tax return, bonus, or financial windfall that will go to your savings account and what will go toward paying off any debt you may be carrying. Second, slide some of your income into savings before it even gets into your hands. Use payroll deductions from St. Cloud Federal Credit Union to put a portion of your paycheck directly into savings.

2. Get on the Same Page as Your Spouse

According to a study by SunTrust banks, nearly half of all respondents have different spending habits than their partners, which is why this made our list. It is difficult to reach financial goals as a couple if you don’t agree on the goals or how to get there. Not to mention that financial stress is the number one cause of marital stress for those who indicated stress in their relationship.

Sit down together and take stock of where your finances are. Make the following decisions together:

• Decide what you’d like to accomplish in the next year, whether it’s paying down debt, opening a college savings fund, or just keeping monthly spending to a specific and firm budget. 
• Decide who is best to manage your finances. If the current arrangement isn’t working, think about having the other person step in.
• Set your budget and make a plan to stick to it. That brings us to the next suggestion.

3. Watch Those Little Purchases

Whether you’re single or attached, make a budget. Look carefully at your monthly and yearly income, and where it was spent last year. Are you happy with what you see? Is it what you expected?

Setting a weekly and monthly budget with spending caps can help you reach your year-end goals. Watch those little purchases that may have made up more of your spending than you thought, such a parking, eating out, coffeehouse visits, or traffic tickets. Although they seem small at the time, adding these small tickets to your burden every single week or month will end up creating a big hole in your financial plan.

4. Watch Those Big Purchases

Ah, the splurge. Whether it was a Christmas gift or a mid-winter vacation, one large purchase outside the scope of your budget can throw things off for months. Discuss these big ticket items with a financial advisor to proactively set a plan for achieving it. Americans often have a habit of buying first and thinking about it later, which is a sure way to rack up debt. Shop around, compare prices, check your impulses, and remember that it’s ok to say no to yourself in favor of your greater goals of financial freedom.

5. Check Interest Rates

If reducing your debt is one of your goals—and if you have debt, it should be—look at the interest rates you’re paying. Get rid of the balances that carry the highest rate, and work down from there. If you’re not sure where to start, this is one strategy for tackling debt.

Similarly, compare interest rates for savings accounts and money market accounts. Talk with a representative at St. Cloud Federal Credit Union to determine if the money you’re saving could be earning you more.

6. Plan for Retirement

According to the 2016 Financial Literacy Survey, one-quarter of Americans don’t save any of their annual income toward retirement. Lauren Brouhard, Senior Vice President of Retirement at Fidelity Investments, recommends saving 15% of your income to ensure a comfortable retirement.

If you haven’t opened your 401k retirement plan or checked in on its performance, do that immediately. If your employer offers a matching contribution to your 401k, be sure to take advantage.


For assistance with any of these tactics, we encourage you to let St. Cloud Federal Credit Union help you maintain this year’s New Year’s resolutions!

International Credit Union Day

This Thursday, October 20th, is International Credit Union Day! This exciting day aims to raise awareness about the importance of credit unions and the many benefits they offer to members. This annual day is to embrace the features that make Credit Unions unique and to express gratitude to its members. Credit unions differ from other financial institutions based on the structure and principles they have and are recognized for being more community and member focused. Although both offer similar products and services Credit Unions are able to offer better rates and fewer fees due to them being not for profit.

St. Cloud Federal Credit Union set itself apart from other financial institutions by the member experience it provides and the commitment it makes to make a positive impact in the community. Our mission is to make a meaningful difference in the lives of our members and our communities. SCFCU is committed to providing its members with the best products and services to make saving easier and our rates are consistently ranked top 5 in the industry.

International Credit Union day is a special day to us and we want to thank all of our members for their loyalty. We want to celebrate our members on our upcoming “Member Appreciation Day” on October 28th. Join us as we celebrate YOU, with refreshments, lunch, and fun games!

Being a Member From Abroad—Ashley’s SCFCU Experience

At St. Cloud Federal Credit Union, we pride ourselves in taking care of our members. Whatever your current situation, wherever life takes you, we want to be there to help. One member, Ashley, tells us about her experience with SCFCU while she traveled abroad in her own words:

StSt. Cloud Federal Credit Union is a place that has always been familiar to me growing up, as it still is today- with both of my parents being members there for over 20 years. When I decided to travel to Europe, I turned to my parents for advice on where I should set up my accounts before I leave. I needed a bank account and a debit card that would work for overseas for 3 months, have the features I desired and still be convenient for my family to make deposits. After discussing this with my parents, they suggested I stop into their credit union to learn more.

The next day I went to the St. Cloud Federal Credit Union to discuss my Europe trip and my plans for gaining access to my money while abroad. The staff at SCFCU made me feel valued and respected during all stages of my visit—from inquiry to new membership. They eagerly helped find the best product for me and also took the time to set everything up. I was surprised by all the benefits and features of their accounts—all of which fulfilled my financial needs abroad. 

The employees at the SCFCU understood that I would be away for several months and wanted to make my experience with them as smooth as possible. The staff showed me how to utilize my online banking account and even helped me download and sign into the SCFCU mobile banking apps. I realized that, to SCFCU, it was more than just setting up another checking and savings account, rather it was a new relationship being established with a valued member. This made me realize the clear difference between banks and credit unions.


Throughout my trip,I had no troubles with my checking or savings account, and my parents were able to deposit money into my accounts, which saved me in a couple emergency situations. I knew that if something did occur with my accounts while abroad that the staff at St. Cloud Federal Credit Union would take good care of me. As I am a member now, I see how the staff go the extra mile to ensure their members are taken care of and feel valued.


Thank you for the kind words, Ashley. We are happy to help. If you are heading overseas on vacation, on a study abroad program, or for any other reason and are curious about finances, contact St. Cloud Federal Credit Union.

4 Fun, Inexpensive Things to Do in St. Cloud This Summer

Summer is right around the corner— as long as the typically temperamental Minnesota weather mood swings calm down. So what are your plans this summer? Lengthy road trips, summer camps for the kids, and excursions to the Mall of America can get expensive very quickly. If you’re looking for fun, inexpensive activities to do this summer while sticking to your budget, read on.

1. Parks and Rec
Whether you are interested in strolling around, people watching, dog walking, or disc golfing, St. Cloud offers a variety of parks for you to enjoy your time outdoors. In fact, with over 90 recreational parks to choose from, you have a site to suit your every need. Additionally, visit one of our specialty parks; you can learn about local history at the Stearns History Center and Nature Reserve, smell the beautiful roses at Munsinger and Clemens Gardens, canoe along the Beaver Island Trail and Park, or swim in the Quarry Park and Nature Preserve in neighboring Waite Park.

2. Sports, Sports, Sports!
What better way to spend a warm summer night than catching a baseball game with the St. Cloud Rox at Joe Faber Field. St. Cloud also hosts a variety of summer league sports programs such as the Central MN Youth Soccer Association for kids or adult-league softball and volleyball. If you are more fan than athlete, visit the Minnesota Amateur Baseball Hall of Fame.

3. St. Cloud Standbys
Every August, the Benton County Fair arrives to the thrill of St. Cloud natives. With amusement rides, a petting zoo, numerous talent contests, fair food classics, and a beer garden, the Benton County Fair offers a mix of fun and entertainment for everybody. This year, the fair will be hosting, ‘The Wall that Heals,’ a 250 foot traveling replica of the Vietnam Veterans Memorial. Don’t miss it!

4. New Classics
Summertime by George at Lake George hosted by the St. Cloud Rotary Club has recently become a summertime classic. Every Wednesday night, Lake George plays host to a free music concert with different local artists every week. Set out a blanket and listen to wonderful music, then visit the craft and food stands with local fare available. This year also marks the 10 year anniversary of the Downtown St. Cloud Art Crawl. With two opportunities to enjoy free art, music, and entertainment, be sure to wander about St. Germain Street on the evening of June 12th and all day August 14th. 

Bonus for Kids A family-oriented town, St. Cloud hosts a variety of kid-friendly activities to enjoy. There are many playgrounds and splash pads around town, such as the River’s Edge Splash Pad, that offer sanctuary on days pushing 100 degrees. The Great River Educational Arts Theatre hosts a children’s theater year round for kids to engage in culture and entertainment on an affordable basis. St. Cloud institutions such as Parkwood Cinema and the Municipal Athletics Complex offer kid-friendly discount days for inexpensive fun for the family.

There are many options all around St. Cloud for you to enjoy a fun, carefree, and budget-friendly summer. Now get out there and enjoy the sun while Minnesota weather allows us!

St. Cloud Federal Credit Union Participates in PhilanthroFEED Program

As we embark on the Holiday season, we should all stop and give thanks for the blessings we have in our life. Being a team member of St. Cloud Federal Credit Union is one of those blessings that we have. As we consider how fortunate we are, we remember there are plenty of people in our community who are not as fortunate. Looking for a way to give back and help those around us, we participated in the St. Cloud Area Salvation Army “PhilanthroFEED” program. Never heard of PhilanthroFEED? Then check out St. Cloud Area Salvation Army - PhilanthroFEED website to learn more.

On November 18th, a team of St. Cloud Federal Credit Union employees partnered with St. Cloud Area Salvation Army to sponsor and serve lunch to 80+ people. Along with sponsoring and serving the lunch, we also donated $1,735 on behalf of our members to the Salvation Army. Our experience at the St. Cloud Area Salvation Army was humbling. While the services we provided and donations we raised made us feel proud, it also caused us to reflect on something else. At St. Cloud Federal Credit Union, we strive to help our members remain “Financially Fit”. After serving this lunch, we were reminded that there are people who have to take financial fitness very seriously, because they often live paycheck to paycheck.

That is why we are challenging other St. Cloud area businesses and community members to consider participating in the PhilanthroFEED program. Count your blessings and please remember those less fortunate in our community.

Affordable Summer Fun in Central Minnesota

Howdy folks, Financial Fitness Phoebe here, hoping this finds all of you happily soaking in this elusive season called summer!

Here at St. Cloud Federal Credit Union, our focus is on helping you save your pennies while getting the most out of life. And frankly, at times, it can seem like everything fun costs money.

Well, central Minnesotans, during the summer months, that’s not completely true. Our area is teeming, week in and week out, with a ton of highly affordable community events and activities perfect for the whole family.

Today, we’ll give you a rundown of a few things to put on the calendar this summer!

SUMMERTIME BY GEORGE

Since it’s inception in 2011, Summertime By George has continuously thousands of people into the center of St. Cloud on Wednesday evenings for live music from beloved local musicians, food from area restaurants and vendors, handmade arts and crafts, and a whole lot more. The weekly outdoor festival happens each week through August at Eastman Park, more commonly known as Lake George.

If you haven’t attended one of these yet, not only are you missing out, but you’re rapidly becoming a minority! Last year’s final Summertime by George night pulled in a whopping 13,000 attendees. We figure this many people can’t be wrong - and at no cost, it’s well worth your while to explore Summertime by George! 

MUSIC IN THE GARDENS

Here’s another regular musical outing in a lovely Mississippi River-side setting. Music in the Gardens brings talented musicians together every other Sunday afternoon near the Gazebo in Munsinger Gardens. Like Summertime by George, the tunes are free - and if you’re feeling decadent, you can snag a root beer float for a buck! 

BENTON COUNTY FAIR

There are a ton of fairs to visit around central Minnesota, but for our purposes, let’s talk about the one closest to the St. Cloud metro area - the Benton County Fair. This is the highlight of summer for a lot of people, and it’s not hard to see why. The fair, held from August 5-10 at the fairgrounds in Sauk Rapids, has something for everyone: barns full of fun and prize-winning animals, great, classic fair food from local vendors, a talent show, live music and a beer garden in the evening and, of course, the fairway. Yes, we know the fair can take a chunk out of the wallet, so budget a little cash for the goodies. And remember - there’s no charge to walk around and people-watch! :) 

QUARRY PARK

We here in central Minnesota have something not everyone has - easy access to beautiful, natural places. One of these is the perennially popular Quarry Park and Nature Preserve.

As far as county parks go, it doesn’t get much better. The 684-acre preserve features a Granite reflecting pool, many miles’ worth of biking and hiking paths, some seriously fun trout fishing, and, of course, the beloved swimming holes that brave souls in our community leap into from high places! All you need is a day pass to cover the whole family - or, if you’re thinking about making a return appearance, you can snag an annual permit for the cool price of $16. 

Well, that’s our short list of things to keep you busy - and in the black - this summer. And we want to know - what’s your favorite central Minnesota activity for summertime? Leave us a comment and let us know! Enjoy the season, everyone!

Our New Look!

We've recently changed the look of our St. Cloud Federal Credit Union website; a makeover of sorts, if you will.  There are a couple of reasons for changing the look of our SCFCU site.

In a quickly digitizing world, we wanted to accommodate all our Members and website visitors who access our site from a mobile device, whether it be a smart phone or tablet.  With this remodel, our website will format to various screens and be much easier to navigate.  Another reason we decided it was time for our site to be re-vamped was to prepare for any future expansion. 

One main feature you’ll notice when you visit our new website is that you can access the Online Banking sign-on directly from our home page!  All our other online services can be found under the ‘E-Branch’ column on the right, or the 'Online Services' tab on the home page.

We are very excited to have a more updated and ‘modern’ site, and hope you like it as much as we do!  A special ‘thanks!’ goes out to our friends at Gaslight Creative in St. Cloud, for their beautiful and crafty work – we certainly couldn't have done the remodel without their help and expertise.

Happy browsing!

Our mission is to educate, support, and encourage our Members to become Financially Fit.


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Youth Week 2013!

Who’s ready for some fun? At St. Cloud Federal Credit Union, we are very excited to announce Youth Week 2013, coming to our St. Cloud and Sartell locations the week of April 21^st – 27^th! We would love to have you come and help us celebrate National Credit Union Youth Week at a number of fun events we’ll be hosting…

All week you can stop by to pick up a coloring sheet for our coloring contest and have your “I’m a Star Saver because…” photo taken.  Also during Youth Week, all youth ages 12 and under who open an account at SCFCU will receive a Star Saver bank and gift bag!

Other exciting events include:

Root Beer Floats!

Join us Monday, April 22^nd from 2:30-4:30pm to kick off Youth Week with a delicious treat!  Root Beer floats will be offered at both locations.

Tour the Credit Union!

RSVP to 320-258-2161 by Wednesday 4-24 to have your very own tour of SCFCU on Thursday, April 25^th.  Tour times are at 10:30am, 3:30pm, 4:00pm, and 4:30pm.  There are limited spots available, so call today!

Winner, Winner!

On Friday, April 26^th we’ll choose 3 winners from our coloring contest and 4 random winners of our Star Saver photos and announce them at 3:00pm on our Facebook page.  Each winner will receive $25!

Movie Showing!

On Saturday, April 27^th at 10:00am we’ll be showing Wreck it Ralph in our lower level Community Room at our St. Cloud location (3030 First St. South).  Bring a pillow and blanket, we’ll pop the popcorn! Please RSVP to 320-258-2161 by Friday, 4/26.

We’re so excited to celebrate the Youth in our community and encourage Star Saving!  If you have any questions or would like to RSVP for our fun activities, please call 320-258-2161, or visit our Youth Week page on our website!  We hope to see you all during Youth Week!

Help Your Credit Score Soar!

We recently posted a blog breaking down the basics of what a Credit Score is for better understanding.  As promised, below is a list we've compiled of ways you can boost your Credit Score and make it soar!

-Pay Your Bills on Time:
Late (aka: ‘delinquent’) payments have a huge negative impact on your overall score.  The more you’re on time with bills, the better your score will get.

-Don’t Open More Cards than Necessary:
Multiple new accounts can start to lower your account ‘age’ and in turn, drop your score as well.

-Be a Responsible Manager:
Having Credit Cards is good, as long as you are good about keeping track of them (limits, payments, etc.).  Having no cards at all can be a higher risk, so be on top of the ones you do have.

-Maintain a Low Balance:
A higher ‘outstanding debt’ can really affect your overall score – it can be lowered over 50 points just by maxing out a card!

-Keep an Eye on your Credit Report:
From time to time, outdated or inaccurate details can show up on your Credit Report – this too can really damage your Credit Score.  Check your Report often, and if/when you see an error file a claim to get it fixed.

-Be Active:
Just having a credit card isn't going to increase your Credit Score – you have to use the card to really establish a strong credit.  Even if it’s a card you only use on groceries, get it – and use it wisely!

Last, but certainly not least --
-Be Persistent:
Improving your Credit Score can take years of diligent spending and dedication to watching your finances – it may not be easy, but we can promise that it will be worth it.  Commit yourself to practicing Financial Fitness today!

Good Credit can be essential to living without financial stress.  If you’d like to talk with one of us, or get help pulling your free Credit Report, call or stop in – we’re here for you!  Our Member’s financial being is always our priority.  We are People Helping People.

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Credit Scores? Just Smile and Nod…

We often hear about the importance of a strong, well-kept Credit Score; but do you really understand what a Credit Score is?  Although the details are far from simple, we did our best to break it down and cover some main points to help you become more informed, so next time you’re asked about a Credit Score, you don’t have to just smile and nod…

What Exactly is It?
A Credit Score is a 3 digit number generated by mathematical algorithms taken from various pieces of information within your Credit Report.  Basically, this calculated number aims to predict your risk as an individual and analyze the chances of you becoming a “delinquent” on different credit obligations. 

Who Uses It?
Your Credit Score is often used by financial institutions and credit card companies to evaluate your eligibility for lending money.  Your score can help determine if you qualify for a loan, what your limits are, and the interest rate.  However, Credit Scores are not only for financial institutions.  A variety of organizations (cell phone companies, insurance companies, landlords, etc.) can use your Credit Score information for the same techniques.  Your Credit Score can be the difference between a low or high interest rate, qualification for an apartment rental, and much more.

Are they All the Same?
While there are all kinds of existing Credit Score models, the most common is the FICO.  According to myFICO.com, “90 percent of all financial institutions in the U.S. use FICO scores” when making decisions.  Your FICO score can be anywhere in the 300 – 850 range; a higher FICO score number indicates lower risk.  There are three different Credit Bureaus that gather your score: Experian, Equifax, and TransUnion – this means each consumer has three FICO scores.  Your FICO score is made up from your Credit Report’s data that is sorted into 5 main categories (see below).  Within this model, some factors are weighed more heavily – like debt and payment history.

What Makes up the Score?
On the right, you’ll see a model of what goes into your Credit Score.  Your Payment History (35%) includes account payment information, including delinquencies and public records.  Your Amounts Owed (30%) is how much you owe on each of your accounts.  The Length of Credit History (15%) is the amount of time between activity on accounts and how long they've been open.  Types of Credit Used (10%) is the variety of accounts you have (installment and revolving).  Lastly, New Credit (10%) includes credit inquiries you've made, recently opened accounts, and your pursuing of new credit.  It is important to note that personal and demographic information (age, marital status, race, income, address, employment, etc.) do not affect your score.

With a better understanding of your Credit Score you can practice better control of your score.  Stay tuned for future blogs about how to build good scores, what can hurt your score, and becoming financially fit. If you have any questions, call or stop by today! We are People Helping People.

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Presenting, Erica!

Ladies and Gentlemen, welcome aboard!  If you’ll please take your seat, close all overhead compartments, fasten your seat belt, and turn your attention to the front of the … just kidding!  We are dedicating this blog to our lovely Member Services Representative, Erica, who before her time at SCFCU, dreamt of being a flight attendant.

We've been lucky enough to claim Erica as one of our own for almost 10 years! Erica was an employee with us for about 5 years in our St. Cloud office prior to leaving to do daycare and spend time with her children.  She came back in 2007, and we couldn't be happier to have her! Now you can find Erica’s smiling face at our Sartell location.  Erica says her favorite thing about working at St. Cloud Federal CreditUnion is her fun co-workers – we think she’s pretty fun to have around too!

When she’s not helping our Members, Erica likes to go camping and spend time with her family and friends.  If she could spend her vacation time anywhere, she’d take off to Hawaii – and we’re betting it’s because of the warm weather; Erica’s favorite season is spring because it means winter is over!  Math was Erica’s favorite subject in school, and if she could spend time learning any language she’d choose Spanish.  Her favorite color is red, Christmas is her favorite holiday, and when it aired, Friends was her favorite TV show.

What you might not know about Erica is that she can do the splits. Its true folks, we've seen her do it – don’t believe us? Click here to see for yourself!

Erica’s bubbly, positive personality is always a joy to have around and our Members are always glad to see her in the Sartell lobby or drive-up.  We’re so happy you’re part of our team, Erica – thanks for all your work!