Community Financial Credit Union

Community Financial Gives a Thumbs Up for Charity! $25,000 Awarded to Local Charities

2012-05-21T10:34:00.000-04:00

Tim Cassidy, Fund Development Director (left),
Cathy Clough, New Hope Center Executive Director,
and Bill Lawton, Community Financial Credit Union, President/CEO

The votes are in and Thumbs Up For Charity! has a winner.

Throughout the month of April, Community Financial invited the community to vote online among five finalists to determine the Thumbs Up For Charity! prizewinners.

After the votes were tallied, New Hope Center for Grief Support in Northville, took the $10,000 grand prize.

New Hope Center for Grief Support is dedicated to providing grief support services to adults and children who are grieving after the death of a loved one.

“We are so appreciative to Community Financial for their support,” said Cathy Clough, Executive Director of New Hope Center for Grief Support. “We rely on donations in order to offer our services at no charge to anyone who can benefit from them. Community Financial’s funds will enable us to help more people in an even bigger and better way.”

Clough added that New Hope Center will use the funds to be able to offer more services to those who are grieving. “It’s all to help grieving people in bigger and better way,” Clough said.

The other finalists who also received donations were: Plymouth-Canton Community Schools’ WSDP Radio, The New 88.1 and the Friendship Shelter from Gaylord, which took home $5,000 prizes. Old Village School of Northville and Montmorency County Council on Aging from Montmorency County each received $2,500.

“This was an extremely close vote, which goes to show how valued each of these organizations are by the community,” said Sarah Cousineau, Community Financial Credit Union marketing manager. “At Community Financial, we are proud to be able to bring these organizations to the forefront and highlight the amazing work they do.”

Stay tuned to Community Financial to hear more about its commitment to the community. You can also stay connected by “liking” Community Financial on Facebook at www.Facebook.com/CommunityFinancial or on Twitter at www.twitter.com/CFCreditUnion.

Students Gain Independence with Free Checking

2012-05-07T16:15:00.000-04:00

As a student, learning to manage school, work, and financial responsibilities can be a daunting task. Establishing a no-cost checking account is an easy way to help you manage your money. As you begin working or heading off to college, a checking account will give you the flexibility you need to access your funds and keep track of your budget.

Free Student Checking Accounts at Community Financial have no monthly fees or minimum balance requirements. They are designed to help members ages 16-23 grow independent while learning to manage their finances.

“A Free Student Checking Account is a great way to start learning the benefits of paycheck direct deposit, debit cards and online banking in an account designed for you,” says Natalie McLaughlin, Community Financial Senior Education Partnership Coordinator.

For students going away to college, make sure to get a checking account that gives you access from anywhere. Community Financial accounts offer free ATM access at thousands of surcharge-free ATMs thru CO-OP Network® & Alliance One®. This means college bound members can make withdrawals at credit union ATMs in towns like Ann Arbor or East Lansing. Visit cfcu.org\ATMsto check thousands of locations.

With easy access to ATMs and online banking, your Community Financial Student Checking Account can help keep you on track of your finances whether you are at home or away at school. Learn more about all of the great features a Community Financial checking account offers. You may stop by one of our branch locations, or open your account over the phone at (877) 937-2328 or online at cfcu.org.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Housing Market Update PT2: Tips for Preparing to Sell

2012-04-30T11:35:00.001-04:00

Are you preparing to sell your house? We recommend taking the time to prepare your house for the market. Follow these three steps to get ready.

1. Scope out the market.

Before putting a house up for sale, scope out the market to see what prices other houses in your neighborhood are selling for. Be realistic in your assessment; the housing market changes frequently and a home is not likely to get the price today that it may have gotten several years ago. Buyer tastes also change, so pay attention to what attracts today’s shoppers.

2. Get ready to showcase the home.

Buyers aren’t typically looking for a house that needs a lot of work, unless it’s a bargain. The more prepared your house is for the next owners, the more attractive it will appear on the market. Clean, improve and prepare the house before putting it up for sale.

3. Set a realistic price.

In a buyer’s market, realtors suggest asking for 3 to 5 percent above what you expect to get. In a seller’s market, realtors suggest asking for 10 to 20 percent above. Careful research is recommending for setting a realistic price. To incentivize buyers, it can also help to be flexible about the move-in date or offer to pay for closing costs.

Community Financial Credit Union offers a wide variety of mortgage options, low closing costs and competitive mortgage rates. As a local community lender, we know the Michigan housing market and are here to help make home busing easier. Click here to visit the mortgage section of our website or click here to apply online.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Celebrating Credit Union Youth Week

2012-04-24T11:19:00.000-04:00

This week is National Credit Union Youth Week and at Community Financial we’re celebrating financial literacy for young adults.

Credit Unions across the nation are celebrating by promoting super savings at your local credit union. The celebration, April 18-24, takes place during JumpStart Coalitions’ Financial Literacy for Youth Month.

Join us as we celebrate this week at Community Financial:

· Youth Club members make a deposit and get two prizes from the prize box

· Student Club members make a deposit and receive two punches to your punch card

· Free family financial activity fair Wednesday evening

Our Student Run Credit Union Program is also wrapping up another great year. We partnered with 23 elementary schools, 8 middle schools and 3 high schools. Over 1,543 students participated this year as volunteers, where they worked as branch managers, tellers, bookkeepers, computer operators, and marketing representatives. The goal of the program is to give students real-life, professional experiences in, filling out applications, interviewing and acting responsibly on the job.

In the 2011-2012 school year, we had 1,700 kids participate as members making deposits in our school branches, and we strive to teach everyone to set goals and save their money. One student started with us in elementary school. By the time he became a senior in high school, we were able to help him with a line of credit to start his own landscaping business. Now he’s in college and has several employees working for him. We hope all members learn money management skills they can use in the future.

Teaching financial literacy is important, and Community Financial is proud to establish successful programs with our local schools. Learn more about our Student Run Credit Union Program by visiting us here.

Posted by: Natalie McLaughlin, Senior Education Partnership Coordinator Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Housing Market Update PT1: Tips for Preparing to Buy

2012-04-16T09:57:00.003-04:00

With the housing market on an upward trend, more people are thinking about moving. Before buying or selling a home, consider these steps.

1. Review your credit.

Most people need a mortgage to purchase a house. Make sure to get your credit report a few months before house hunting. A free annual credit report is available from Annualcreditreport.com. Check the report carefully for any incorrect facts. Reviewing your credit and fixing any problems now will save you time and stress when applying for a mortgage.

2. Get pre-approved before house hunting.

Many real estate agents request a letter of approval for a mortgage before helping find a house. Getting pre-approved puts you in a better position to make a serious offer when you’re ready. Also, mortgage requirements have changed over the last three to five years, so it’s important to understand the current eligibility requirements for financing.

3. Do your homework.

Shop around and compare homes in your price range before making an offer. A good real estate agent will help guide you through the house hunting process, but it’s wise to also do your own research. In particular, look at sales trends for similar homes in the neighborhood and take that information into account when deciding how much to offer for the home of your choice.

If you’re preparing to buy, our mortgage specialists at Community Financial Credit Union can help you get pre-approved for free today. Speak with one of our mortgage specialists today.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Money Management: Start Saving for Retirement NOW!

2012-04-09T12:28:00.004-04:00

We’re all familiar with the old saying “a penny saved is a penny earned.” Retirement may seem far away but the sooner you start saving your pennies, the more your savings can grow.

Beginning to save for retirement as early as possible is vital and can dramatically increase the amount you accumulate for your golden years. Saving successfully doesn’t require setting aside a lot of money but it helps to be consistent over the years. The amount you contribute to a 401K or Investment Retirement Account will accrue interest that increases your earnings in the long run.

Consider, a Roth IRA allows you to contribute up to $5,000 per year after taxes. You can achieve this goal by setting aside just $96 a week and remember you do not have to contribute the maximum, any amount helps.

Depending on when you start, the outcome could be vastly different*:

• Start at age 25 and by age 70 savings will total around $1,600,000

• Start at age 35 and by age 70 savings will total around $800,000

• Start at age 40 and by age 70 savings will total around $550,00

Starting at age 25 nearly doubles the amount of savings compared to starting ten years later.*

Click to enlarge graph.

While there may be a while before retirement, don’t miss the opportunities to prepare yourself for a comfortable and financially secure future. Remember, always consult a tax adviser before you make investment decisions.

For more information and news to assist you with money management, join Community Financial Credit Union on Facebook and Twitter.

*These numbers are a hypothetical example that assumes a $5,000 annual IRA contribution made each year for the range shown, an annual rate of return of 7% (This is a little to ambitious; 4-5% is more realistic). and no taxes on any earnings within the IRA. This does not reflect fees or inflations. IRA distributions before age 59 ½ may also be subject to a 10% penalty.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Building Credit with Good Grades

2012-04-02T14:49:00.003-04:00

Are you just starting out and need a car? Are you a college student who needs a new laptop? We know how difficult it can be to get approved for a loan without established credit, and building your credit score can take time. For our members just starting out, Community Financial Credit Union now offers a loan based on your GPA.

Your GPA Counts. If you are 16 years of age or older and have a job, you may be eligible for our GPA Loan. If you have no credit score, your credit rate will be based on your GPA. We will take into consideration the GPA from the past six months; the better your GPA, the lower your loan rate.

What It Applies To. Our GPA Loan can be used for used auto loans, signature loans for major purchases like a laptop or furniture, or Visa Credit Cards.

Building Your Credit. This loan is a great way to help you as you begin to build your credit. Building credit is an important factor in your financial life. Your credit score will help when it comes to applying for future credit. Learn more about the importance of a credit score by vising our previous blog on What To Know About Your Credit Score.

Apply now to find out if a GPA Loan will work for you! To find out more, visit one of our convenient branch locations to speak with a representative. If you have any questions, call us today at (877) 937-2328.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Spring Refresh: Home Improvements that Add Value

2012-03-26T14:08:00.002-04:00

Spring is a time for blossoming and also rebuilding. Fixing up your home may increase its value and put you in a better position if you decide to sell. When choosing what to renovate, keep in mind that certain improvements may offer a better return on your money.

Here are some factors to consider when improving your home this spring:

Update the Kitchen. A kitchen is often a major selling point for a home, so appearance and upkeep are important. Updating the kitchen may be costly, but homeowners often see a return on investment of 72 percent*. Major kitchen updates can be enjoyed now and be helpful when you prepare to sell.

Renovate the Bathrooms. Fixing up the bathroom can give you a return on investment of around 62 percent*. For major renovations, remember people often want simple, eco-friendly tubs over Jacuzzis. Even small improvements can give your bathroom a fresh, new look. Try installing new faucets and light fixtures or a new counter.

Upgrade to be Energy Efficient. Energy Star appliances and windows will cut down on your energy bills in the long run and appliances are good for the environment.. Insulation products can be do-it-yourself projects and further reduce your bills.

Whether you plan to stay or sell, remodeling your home can make it a more valuable asset and a more enjoyable place to live. For information on how to fund your home improvements, learn about our Home Improvement Loans or give us a call at (877) 937-2328.

*According to Remodeling Online.

Posted by: Community Financial

Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Presidents Day Essay Contest Winners Announced

2012-03-19T12:37:00.003-04:00

The stack of essays received in this year's contest.

In honor of Presidents Day, Community Financial held an essay contest for local elementary and middle school students to answer the following question: Which U.S. President would you like to have lunch with and why? The responses were astounding with almost 800 essays submitted!

Now that all of the entrees have been reviewed, we’re proud to announce the following winners: Emily Loebach, Meads Mill Middle School who wished to have lunch with President Lincoln and Julie Shen, Miller Elementary School, who chose President Jefferson.

Both winners will receive $100 cash along with lunch for their class with President and CEO Bill Lawton. Ten finalists were chosen and will each receive $10 gift cards to Subway restaurants.

Here are some entertaining and inspiring quotes from the essays:

“I’d take George to Domino’s Pizza. George might not have taste buds but this would grow them back.”--Aidan Walsch, 5th grader, Allen Elementary School

“I would have lunch with Abraham Lincoln. Here are some reasons. First, he is honest and he would tell me if he didn’t like the lunch.” --Ninah Mijnsbergen, 5th grader, Allen Elementary School.

“I would pay for our food with a two dollar bill and then ask him look familiar?"--Meghan Rotole on Thomas Jefferson, 5th grader, Our Lady of Good Counsel

Thanks to everyone who participated! Keep up to date on upcoming community events by joining us on Facebook and Twitter.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Thumbs Up For Charity! Community Financial is donating $25,000 to local nonprofits

2012-03-12T13:33:00.003-04:00

Now is your chance to give a Thumbs Up to Charity! Join us as we give back to our local nonprofits. Throughout March we will be accepting nominations on who you think deserves to receive a donation.

Just visit www.cfcu.org/ThumbsUpforCharity to nominate your local charity now. Please make sure that your charity is a registered 501 (c)(3) organization or associated with an accredited educational institution serving the communities of Plymouth, Canton, Northville, Novi or the counties of Montmorency, Otsego, and Alpena.

“We wanted to provide the residents of our communities the opportunity to tell us which groups they think are making a difference and deserve recognition. Our “Thumbs Up for Charity” Program is a great way to reward these charities for their hard work,” says Sarah Cousienau of Community Financial.

In April, the voting will begin. Five charities will be selected to participate in the voting phase. The charity receiving the most votes during April, will receive a $10,000 donation, two runner-ups will receive $5,000 donations, and the fourth and fifth runner-ups will receive $2,500 each.

Community Financial Credit Union is a not-for-profit that gives back to the community. Click here for the Thumbs Up for Charity contest rules. To learn more about upcoming programs and community events connect with us on Facebook and Twitter.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Online Couponing: Good Deals or Costly Temptations?

2012-03-05T12:38:00.006-05:00

Group couponing and internet coupons are on the rise, reaching you everywhere from social media to smartphone apps. These offers can be tempting, but are they really saving you money?

According to the Wall Street Journal, $2 billion will be spent this year at daily deal sites. Sites like Groupon are now sending instant location-specific deals to your smartphone. However, be careful to consider whether or not the item offered is meeting your needs or just enticing you to spend money.

Instant deals may offer savings, but they can also get you to spend money on products or services you didn’t plan to purchase in the first place. Therefore, making frequent purchases based on instant deals will actually cost you more money.

Some deals may be more practical, helping you save money on items you actually need. For instance, certain sites are now sending out deals for groceries rather than expensive meals.

Keep in mind if you use daily or group coupons, is to check the expiration date. Just because the coupon lives online doesn't mean it won't expire. Also, make sure you trust the source of the coupon. Sites like Groupon and Living Social have become more reputable sources for discounts.

Overall, manage your budget and watch out for temptation. Online couponing can help you save money if you are careful with your purchases.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Refinancing Your Mortgage? Learn About our Ten Year Streamline Refinance

2012-02-27T12:08:00.002-05:00

Nicolle Sherman, Community Financial Mortgage Specialist.

If you’re thinking about refinancing your mortgage, now is a great time to apply. As a local mortgage expert, I’m here to help you reduce your monthly house payment. This may be done through refinancing at today’s historically low rates.

At Community Financial Credit Union we’re offering a special Ten Year Streamline Refinance Program at a low rate that can help you save money. Our current 3.00% rate* is one of the lowest that I have ever seen. The mortgage process can be cumbersome and time consuming, however, our new program simplifies the process and we will work with you to help make things go smoothly.

Program Details

The Ten Year Streamline Refinance Program gives you a fixed rate term of 10 years* and is available on loans up to $250,000. Typically, closing costs range from $1,500-$2,200 on a full refinance; with our Streamline Program, if it is determined that an appraisal is not needed, the cost maybe as low as $750. To be eligible for this great program, a minimum credit score of 680 is required and the maximum we will finance is 80% of your home’s current market value.

Remember, at Community Financial, your mortgage is safe. We will always service your mortgage and we take care in assisting you with any needs throughout the life of your loan.

We’re here to help you with a variety of mortgage options. If you are looking to purchase a new home, visit my previous post on What To Know When Buying A Home. You may also visit our Mortgage Center online to check out current mortgage rates.

*Payment Example: The monthly payments on a streamline mortgage loan of $150,000 at 3.00% for 120 months would be about $1,448.41. The Annual Percentage Rate (APR) on the loan would be 3.10%.

Community Financial is an equal housing lender.

Posted by: Nicolle Sherman, Community Financial Mortgage Specialist
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

The Auto Resource Center: What To Know

2012-02-20T11:48:00.002-05:00

Car shopping online has become the easy and convenient way to help you find the right vehicle. Whether you’re looking for a used or new vehicle, Community Financial Credit Union’s Auto Resource Center has everything you need to help you with your next car.

Check dealer inventory and compare. At cfcu.org/AutoResourceCenter you can check local dealers to see what’s available right now. You can search for new and used cars, get quotes on multiple vehicles, and compare prices to find the best value. Take the time to research your options to help you shop smart.

Estimate Your Trade-In Value. Knowing what your current car is worth is very important if you plan to trade it in and use the proceeds as a down payment for your next vehicle. Used car prices are on the rise and our Auto Resource Center uses Black Book, to provide market-driven retail numbers to consumers who are looking to trade-in an existing vehicle or acquire a new or used car. Remember it is always best to treat the sale of your old car & the purchase of your new one as separate transitions; that way you’ll get the best deal on both!

Prepare and plan. Our Auto Resource Center has a payment calculator to help assist you with financial decisions. It’s always best to be financially prepared and budget. Check different payment scenarios and see what you can afford.

Apply online for your auto loan. Once you’ve made your vehicle choice, we can help you out with financing your purchase. At Community Financial our auto loan rates are as low as 2.24% APR*. Visit our site here to see the most current loan rates.

For more tips on car shopping visit our previous post on Used Car Shopping Tips. If you are debating between a lease and a car purchase, read are list of recommendations for you. Don’t hesitate to call us at (877) 937-2328 if you have any questions. Good luck with your shopping!

*Payment example: The monthly payments on a $10,000 auto loan over 48 months would be about $220 assuming: 2.49% Annual Percentage Rate (APR), 2006 or newer model vehicle, 20% down payment and a strong credit history. An additional .25% rate discount is available with auto pay from Community Financial checking. All loans subject to credit approval. Rates as of 2/1/2012 and subject to change without notice.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Saving Savvy: Save with Your Tax Return

2012-02-13T15:36:00.005-05:00

Tax season is here which means you could be in line to put a chunk of money back into your pocket. So what should you do with this year’s refund? While you may want to spend it, Community Financial Credit Union recommends investing in your future with these tips.

Invest in your retirement savings. Roth IRA allows you to make cash contributions of up to $5,000 annually. Roth IRAs also offer more investment options than many retirement plans. Learn more about a Roth IRA by contacting one of our Financial Service Representatives today.

Pay off high rate debt. Review any debt you have and consider what you should pay off first. Credit card debt often has the highest interest rates. Paying off a credit card now can save you money you would spend on interest throughout the year.

Save. Build an emergency fund. Getting into the habit of saving is one of the best money management strategies you can develop. If you struggle with saving routinely throughout the year, it might be best for you to put away your tax return money.

File Your 2011 Taxes Online – Free

Thousands of dollars go unclaimed every year from the IRS because people don’t take the deductions that they are due. Using tax filing software can tell you what deductions that are automatically applied. If you are still filing your taxes, try using our FREE tax service Just File It!

Just File it!, This simple to use online tax filing software walks you through the process and allows you to file for both federal and state of Michigan income tax. For credit union members, your tax return can be deposited fast, right into your account. Visit Just File It! online right now to get started.

*Consult your tax adviser.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Community Financial Awarding College Scholarships

2012-02-06T13:01:00.002-05:00

Last year's scholarship recipients.

Community Financial Credit Union has announced, in collaboration with the Community Foundation of Plymouth (CFP), it will be awarding twelve $1,000 scholarships in April to college-bound students.

Each year, college tuition rises and many students struggle to afford the expense. According to USA Today, two thirds of the undergraduate class of 2011 graduated with an average of more than $25,000 of debt.

“With rising college costs, families may be struggling to help their children financially,” says Sarah Cousineau, Community Financial Marketing Manager. “That’s why we give back to students every year through our scholarships.”

Students must be accepted at or applied to an accredited college, university or trade school for either full or part-time for the 2012 Fall semester. If you’re eligible, make sure to apply by March 2, 2012. You can apply online now by visiting http://scholarships.egrant.org. Please follow the instructions and guidelines for “Community Financial Margaret Dunning, George Lawton and Phil Curtiss Scholarships.”

Judging will be based on a combination of academic performance, community service, extra-curricular activities, letters of recommendation, job and employment, essay answers and financial need. All application materials must be submitted online.

If you are heading off to college soon, make sure to follow these steps to prepare yourself financially and read our previous post on how to budget for your freshman year.

Good luck with the scholarship application and be sure to follow Community Financial on Facebook and Twitter for updates on scholarships and other awards and contents.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Could you use some help tackling your debt? Community Financial Teams up with Accel Members Financial Counseling to provide assistance.

2012-01-30T14:53:00.003-05:00

If you’re struggling to pay your bills, it’s good to know there are options available to help you get them under control. For members who are interested in financial counseling, Community Financial Credit Union is proud to work with Accel to provide free counseling services.

Accel Members Financial Counseling is a financial education and counseling program designed specifically for credit union members. Counselors will meet with you and provide professional advice and help you get out of debt free of charge. Accel also provides credit counseling, financial education, housing counseling services and an optional debt management program.

“Never be afraid to seek financial counseling,” says Ken Kollar, Community Financial Asset Protection Manager. “The counselors at Accel are very supportive and well informed. Our members who have participated have benefited greatly.”

Accel’s free services are designed to help you better manage your money and prepare for your future. Accel counselors are trained to help you with all types of debt. They are available six days a week and charge no hidden fees.

Learn more about Accel by vising them online. If you are not seeking counsel but would like tips on handling debt, Community Financial recommends following these steps in our previous post for strategies for handling your debt.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Preparing Your Finances for Emergencies

2012-01-23T12:27:00.002-05:00

When an emergency strikes, you may not have time to grab all your important belongings. Therefore, be sure to take steps in advance to protect certain documents. Follow these steps to prepare yourself financially for an emergency.

Keep important documents safe. It’s easy to forget about the documents you rarely use, such as your marriage license or birth certificate. You should store these in a fire proof safe at home, or consider renting a safety deposit box to store original copies.

Create an emergency kit. This could be a waterproof box with a lock or any type of safe compartment. Your emergency kit should include copies of your original documents, health insurance cards, telephone numbers for emergency contacts, and emergency cash.

Always have a rainy day fund. Get in the habit of saving money for an emergency. It helps to setup a separate account specifically for this fund. It’s always better to be prepared and you can learn more about saving by reading our previous post.

Community Financial Credit Union offers a variety of savings accounts to help you be prepared. Learn more about Community Financial by visiting one of our branch locations or calling us at (877) 937-2328. We’ll be happy to answer your questions and assist you with any of our services.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Winter Savings Tips – How to lower your Heating Bills

2012-01-16T12:29:00.002-05:00

With winter weather sweeping over Michigan, it’s smart to pay attention to the amount you spend on energy bills. If you haven’t prepared your house for the winter, here are a few easy steps:

Cover up drafty windows. Use a strong, clear plastic sheet to cover any drafty windows. Make sure you seal it tight to keep the heat in. You can also try installing tight, insulation drapes or shades for your windows.

Monitor and adjust your temperature. This is a good habit to get into. When you’re home, keep your thermostat at a comfortable temperature. Always turn it down when you’re out for the day. The US Department of Energy claims that turning it down your thermostat 10-15 degrees for eight hours can save around 10% a year on your heat bill.

Maintain your heating system. To keep your system at its best performance, it’s always good to replace air filters and schedule regular maintenance. If you’re looking to try alternative heating options, make sure you follow these Safety Tips from US News and Money.

For more information on how you can save on Energy check out this Energy Savings Guide from the State of Michigan. Lowering your energy use is good for the environment and for your pockets. Stay warm and keep an eye on your heating bills this winter!

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Strategies for Handling Your Debt

2012-01-09T11:02:00.004-05:00

Is your New Year happy or are you faced with the daunting challenge of paying off debt? Debt issues can limit financial options if they are not managed properly. These suggestions can help you plan to reduce your debt and ease your financial burden in the future.

Analyze your situation. Review the different types of debt you have, including the interest rate each creditor is charging, and how your money is being spent. This high-level view can help determine how much debt you are actually dealing with and help you plan accordingly.

Plan and Prioritize. Is it better to pay off smaller debt or larger debt first? Paying off small debt may give you a sense of accomplishment, and you can add the money saved towards other bills. Take a look at your situation and work with a financial professional to see which steps will save you the most money. With credit cards, always try to pay more than the minimum balance which saves money on interest.

Set Goals. Develop a plan that fits your budget so you can manage your debt. If you need help, work with a financial advisor who will likely be able to provide some options to help.

Community Financial may be able to help you lower your rates and get a better handle your debt now. Learn about our debt consolidation loans now. For financial counseling, we recommend Accel Financial Counseling.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Preparing for the New Year: What to Shred

2012-01-03T12:18:00.008-05:00

According to the Federal Trade Commission, as many as 9 million Americans have their identities stolen each year. It’s important to make sure that the right documents from this past year are saved, and the right ones are destroyed.

MSN Money lists eight things you should shred right now:

Old tax returns. The IRS recommends saving tax returns for three to four years in a firebox, anything older and you are safe to shred.
Bank statements. If you’re tired of keeping paper statements around, switch to eStatements and let your financial institution store them.
Credit card offers. Always destroy credit card offers you receive in the mail.
Old photo IDs. Get rid of old passports & drivers licenses just for safe measures.
Pay stubs. Old pay stubs can provide fraudsters with target information.
Convenience checks. They often come from credit card companies and can be used to borrow money from your line of credit. Shred them if you’re not going to use them.
Canceled checks. Make sure to shred any canceled check, even if you wrote void across the check.
Canceled credit cards. Just to stay on the safe side, it’s best to shred or cut up any old cards.

Along with shredding documents, it is important to review your information online. The beginning of the year is a great to time to check your credit for any fraudulent activity. You can get a free credit report now from www.annualcreditreport.com.

Community Financial Credit Union takes extra steps to protect your information. However, there are steps you can take to protect yourself from identity theft. Learn more in our previous post. If you have any questions feel free to visit one of our branch locations or call us at (877) 937-2328.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

New Year, New You: A look at your next year’s finances

2011-12-28T11:23:00.004-05:00

The start of a new year is a great time to rejuvenate your financial health. It is a good idea to reevaluate your financial goals and budget. This annual exercise will help you stay focused and manage your finances successfully. A great way to get started is to consider these questions.

What are your goals? A great first step is to outline your financial goals for the year. Remember to include any major events coming up, such as a vacation as well as any big ticket purchases you might need to make. Remember to include retirement savings too. While you can’t plan for everything, setting goals will help you save and prepare for the year.

What is your budget? With goals for the year in place, setting up a realistic budget is the next step. If you haven’t drawn up a spending plan, get started now. If your household already has a budget in place it’s always good to review it and adjust accordingly. Please visit our previous post for more on budgeting.

What loans can you refinance? Refinancing outstanding loans with a lower rate will help you start saving money immediately. A good place to start is by shopping around at your local credit union. Community Financial Credit Union can help you review your credit.

One more important step to consider is saving money for emergencies. It’s a good idea to always have a rainy day fund just in case the unexpected happens. Payroll deduction is one of the most painless ways to set money aside.

Start your new year off right by planning for your financial health and avoiding trouble later. Learn more about how Community Financial can help you with payroll deduction and more. Have a happy and healthy new year!

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

eServices - All you need to stay on top of your finances

2011-12-19T10:22:00.005-05:00

Today’s technology has revolutionized the way we bank. It has leveled the playing field between mega banks and your community credit union. Thanks to free ATM networks, smart phones and the internet – you can bank from anywhere.

Community Financial’s new eServices gives you 24/7 access to your credit union accounts safely & securely using today’s latest technology. Here is a brief overview of what our eServices can do for you.

eBanking, our free online banking access at www.cfcu.org, allows you to view account balances, transaction history, even pending transactions on your accounts. Transferring money between your credit union accounts or to other financial institutions is also right at your fingertips. You can even customize “My Homepage” so the information you use most is front & center when you login.

ePay, our bill paying service within eBanking, lets you pay anyone from your credit union checking account including businesses, individuals and charities. It is simple to enroll and customize your payee list. Then all it takes is a few clicks to pay bills - no need to write a check or find stamps.

eAlerts are customized emails or text messages that you send from eBanking when certain events occur. For example, you can set an alert when your checking balance falls below $50 or your car loan payment is due. eAlerts help you stay connected to your money and avoid mishaps.

eStatements, eNotices & eReceipts are paperless ways to receive important information on your accounts. Just tell us you want to go green and we will email you when your statements are available to view in eBanking.

Community Financial’s new eServices have everything you need to make banking easy, fast and convenient. Take a few minutes to set up your account, get comfortable with the options, and enjoy the freedom of eBanking!

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Tis the Season of Giving! Community Financial is donating over $50,000 to local schools and non-profits.

2011-12-12T08:13:00.010-05:00

Our Season of Giving campaign has just kicked off! On behalf of our members, Community Financial Credit Union is donating over $50,000 to local non-profits and schools throughout the month of December.

In the spirit of the holidays, each organization will be surprised with a donation from Community Financial. The gifts will be kept under Community Financial's giving tree. Join us on Facebook where the winners will be announced every weekday!

“The schools and non-profits in our communities do so much good work throughout the year, and we wanted to show our appreciation,” said Bill Lawton, Community Financial President and CEO. “As a community credit union, it is part of our mission to support our communities and we are proud to be able to do that this holiday season.”

Gift recipients so far include The Ostego County Community Foundation, Gaylord area schools, Hillman and Atlanta area schools, JoBerg/Lewiston area schools and the Community Foundation of Northeast Michigan.

Community Financial Credit Union is a not-for-profit institution that gives back to the community. To learn more about upcoming programs and community events connect with us on Facebook and Twitter.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Campaign for Your Community: Helping the Plymouth Community United Way

2011-12-05T10:16:00.001-05:00

At Community Financial Credit Union, we believe engaging in our communities is one of the best ways to keep them vibrant and successful. That’s why we give back to our local non-profits and schools throughout the year. Part of that effort includes our work to raise money in support of the Plymouth Community United Way’s Campaign Drive.

During this annual campaign, our employees enroll to have donations deducted from their paychecks; all donations are then matched by Community Financial. Community Financial has been a Silver Campaign Sponsor for the past 13 years.

Even a little amount can go a long way for our community. If you see the payroll deduction application come across your desk, consider signing up! Not every company offers payroll deduction contributions.

The Plymouth Community United Way serves all of Western Wayne County. The foundation helps support the community by providing emergency shelters, food pantries, and other services for struggling families. Contributions are made for basic needs and stability resources such as crisis intervention, educational and youth development services, family services, and job training. Learn more about the Plymouth Community United Way and how you can help.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.

Picture Perfect Michigan Success

2011-11-28T09:45:00.002-05:00

Community Financial’s second annual Picture Perfect Michigan photo contest was a success! With dozens of entrees received, we celebrated beautiful places across Michigan.

Each week our Facebook fans posted photos of special moments and locations in Michigan. We received photos from all over the state, including photos of Detroit, Plymouth, Lake Michigan, Northern Michigan and many other great settings!

“At Community Financial, we celebrate being a part of our community,” said Sarah Cousineau, Community Financial Marketing Manager. “We’re happy to give back to those who helped us capture and share wonderful photos of Michigan.”

Visit our YouTube channel to see some of this year’s photos. Do you have another photo you’d like to share? Even though the contest is over, you’re always welcome to post your photos and comments on our page at Facebook.com/CommunityFinancial. We’re always happy to hear from you.

Community Financial Credit Union is a not-for-profit institution where giving back to the community is part of our mission. To learn more about upcoming programs and community events connect with us on Facebook and Twitter.

Posted by: Community Financial
Community Financial Members Federal Credit Union is a not-for-profit, full-service financial institution owned and governed by its membership.