Checks and Electronic Payments Are Clearing Faster
A change to how checks and electronic payments clear your account means you should now expect that payments can clear the same day they are authorized.
You should plan to have funds in your account before authorizing check or electronic payments. You can no longer count on any “float time” – meaning that time between writing or authorizing a payment and when it clears the account.
This is a change that all financial institutions are required to participate in. It is being done, in part, to make it easier for people to make payments and also to update account balances more frequently.
Browser Security Information
We are committed to protecting our members by maintaining the highest security standards. Compatible browsers/versions for our products are: Internet Explorer® version 11 (All other versions have been deprecated by Microsoft®.)MS Edge - all versionsFirefox® version 31 and higherSafari® version 9; 7 and higher for MacGoogle Chrome™ version 42 and higher
5 Financial Resolutions for the New Year
A brand new year provides the perfect opportunity to make meaningful life changes, including improved financial wellness. These five financial resolutions can help get your year off to a promising start.
1. Get on budget
Take charge of your finances by creating a budget. Start by calculating after-tax income and subtracting fixed monthly expenses. Then allocate portions of the remaining income for savings, important goals and a few things that just make you happy. If this sounds complicated, relax; today's user-friendly budget apps can take a lot of the pain out of the process. To further simplify money matters, consider setting up automatic bill pay, an automatic savings plan and separate savings accounts for specific goals.
2. Build an emergency fund
Without a solid cushion, any unexpected job loss, medical challenge or serious property damage could lead to lasting financial hardship. An emergency fund with three to six months' worth of expenses can protect your standard of living and offer peace of mind. Commit to making consistent deposits to this fund even if you can only spare a small amount each month. Because you may need to tap into emergency cash at a moment's notice, choose a vehicle that gives you easy access, such as a savings or money-market account.
3. Prepare for retirement
Retirement may not be on the immediate horizon, but when the time comes it may well last 20 years or more. You'll probably need somewhere from 70 to 90% of your final-year income for each year of retirement, and it's unlikely that Social Security will be sufficient. Saving such a sizeable sum takes decades, so it pays to start early. Put as much as you can afford into tax-advantaged Roth or traditional IRAs, and if your job provides a 401(k) plan, contribute the maximum employer-matched amount.
4. Improve your credit
You likely know that credit scores affect financing approval and interest rates. But the influence of those three little numbers actually stretches much further. Prospective employers and landlords frequently check credit, so low scores may mean missing out on the best jobs and apartments. Credit scores also may affect insurance premiums, mobile phone offers, vacation costs, and even whether utility hookups require a cash deposit. For top scores: Pay all bills on time.Keep credit card balances at no more than 20% to 30% of the credit limit.Carry a mix of debt types such as credit cards, auto loans and personal loans.Monitor credit to catch and correct any errors or problems.
5. Knock down debt
Even with a great job, high-interest debt can sabotage financial health. To dig out from under this burden, consider concentrating efforts on your highest interest debt first while continuing to make timely smaller payments on all other obligations. When the first balance is satisfied, focus on the most expensive remaining debt and continue this way until you're debt-free.
If debt from multiple sources is unmanageable, debt consolidation may help you regain control. This approach streamlines debts into one payment, often with reduced interest and a lower monthly cost. Depending on your individual situation, home equity financing, personal loans or zero interest balance transfer credit cards may be effective debt consolidation choices.
Smart money resolutions boost financial stability not just immediately but over the long haul as well. The bonus takeaway is the confidence that all life's remarkable milestones and challenges won't break the bank.
© Copyright 2016 NerdWallet, Inc. All Rights Reserved
Consumer Credit Counseling Services
The basics of financial planning are rarely taught in schools. CCCS offers you confidential financial assessments and education you need for a brighter financial future. https://cccsonline.org/
Proof of Insurance Information
For your convenience you may visit www.myinsuranceinfo.com or have your agent call 800-532-6404 to provide the necessary insurance information.
Avoid ATM Surcharges - Alliance One!
Alliance One, a nationwide group of select-surcharge ATMs, gives you the power to access your money on your own terms.
Using any one of the convenient ATMs across the U.S., including the District of Columbia and Puerto Rico, you can access your accounts without being charged a foreign ATM fee.
After all, shouldn't that money be yours to keep?
Use the ATM Locator or download the locator App to find an Alliance One ATM near you.
Looking for added security when using your
CCU MasterCard or Debit/ATM card?
DISCLAIMER: This business is not responsible for and has no control over the subject matter, content, information, or graphics when viewing links attached to this website.