Living in Maine, we can expect that winter weather will be unpredictable. But that is not how we want to think of our financial institution. While a Maine winter might be unpredictable, your local credit union is stable and convenient. The start of the New Year is the perfect time to look into how your local credit union can help you with any unexpected hurdles that might occur.
There are countless stories telling how Maine’s credit unions have helped members weather the unexpected. Being a credit union member helped one person access their money while traveling when their car broke down during a snowstorm. Even though they weren't near their local branch, they were able to take advantage of the shared branch network to withdraw the money they needed. While we can’t predict the weather, we can predict that by using a credit union this year you can save more while gaining more convenience.
-Jess H., Maine Credit Union League
Wednesday, December 29, 2010
Thursday, December 23, 2010
Giving the Gift of Green this Holiday
Last minute shoppers still looking for the perfect holiday gift, look no further than your local credit union. That’s right, I mean giving money as a gift. A recent survey conducted by Western Union and Wakefield Research found that more than half of the respondents agreed that they would prefer to receive cash more than anything else this holiday season.
So why spend money on a gift that might not fit or that they will return? The survey found that three-quarters of consumers have pretended to like a holiday gift they received. Giving cash as a gift can make last minute shopping stress free. With cash the recipient can do whatever they want with it and its always one size fits all.
So if you are thinking of driving to the mall or department stores to battle with other last minute shoppers, think about stopping by your local credit union to take out some cash instead. Maine’s credit unions make it easy to stop by any Shared Branching location, or stop by an SURF ATM and save by not paying a surcharge fee.
- Jess H., Maine Credit Union League
So why spend money on a gift that might not fit or that they will return? The survey found that three-quarters of consumers have pretended to like a holiday gift they received. Giving cash as a gift can make last minute shopping stress free. With cash the recipient can do whatever they want with it and its always one size fits all.
So if you are thinking of driving to the mall or department stores to battle with other last minute shoppers, think about stopping by your local credit union to take out some cash instead. Maine’s credit unions make it easy to stop by any Shared Branching location, or stop by an SURF ATM and save by not paying a surcharge fee.
- Jess H., Maine Credit Union League
Wednesday, December 22, 2010
Don’t Let Travel Troubles Hinder your Holiday Cheer!
If you’re like me, holidays don’t only mean visions of sugarplums, but also visions of the hours of travel that are inevitable this time of year. Here are some tips to ensure that your holiday travels are not only happy, but safe!
• Check your tire tread, battery, antifreeze, windows, windshield wipers, and brakes before leaving.
• Have a trip plan and let others know when you will leave and arrive at your destination.
• Do not pick up hitchhikers.
• Have a cell phone – and charger – with you at all times.
• If you are involved in a minor accident, do not get out of the car. Lower your window slightly and ask the other party to phone the police or follow you to the nearest public area or police station.
• Consider keeping spare fuses and a "breakdown kit" in your vehicle at all times.
Being a member of a credit union that is part of the Shared Branch Network can also help you get to your destination safely. Here’s a story of how Shared Branching helped one CU member ring in the New Year!
“I was traveling down to Boston for New Year’s when my vehicle broke down. The company who came to get my car needed cash for payment and I didn’t have any on me. I had been given a paper with all the branches in Maine who participate in Shared Branching, so I looked there and found a credit union nearby!”
To ensure you can always find a nearby Shared Branch in Maine or nationwide, add the number to the Credit Union Service Centers, 1-800-919-2872, to your cell phone, or use your smartphone to access it online, at www.cuservicecenter.com. Also available is a free iPhone app, called Find Branch, which maps out the nearest location, providing hours, directions and a phone number. For more information, visit iTunes, or your iPhone's App Store.
Happy Holidays and Safe Travels!
-Diana D., Maine Credit Union League
• Check your tire tread, battery, antifreeze, windows, windshield wipers, and brakes before leaving.
• Have a trip plan and let others know when you will leave and arrive at your destination.
• Do not pick up hitchhikers.
• Have a cell phone – and charger – with you at all times.
• If you are involved in a minor accident, do not get out of the car. Lower your window slightly and ask the other party to phone the police or follow you to the nearest public area or police station.
• Consider keeping spare fuses and a "breakdown kit" in your vehicle at all times.
Being a member of a credit union that is part of the Shared Branch Network can also help you get to your destination safely. Here’s a story of how Shared Branching helped one CU member ring in the New Year!
“I was traveling down to Boston for New Year’s when my vehicle broke down. The company who came to get my car needed cash for payment and I didn’t have any on me. I had been given a paper with all the branches in Maine who participate in Shared Branching, so I looked there and found a credit union nearby!”
To ensure you can always find a nearby Shared Branch in Maine or nationwide, add the number to the Credit Union Service Centers, 1-800-919-2872, to your cell phone, or use your smartphone to access it online, at www.cuservicecenter.com. Also available is a free iPhone app, called Find Branch, which maps out the nearest location, providing hours, directions and a phone number. For more information, visit iTunes, or your iPhone's App Store.
Happy Holidays and Safe Travels!
-Diana D., Maine Credit Union League
Friday, December 10, 2010
What’s your spending breakdown?
If you knew where your money was going, would you be as willing to let it go? According to Newsweek and the U.S Department of Labor, here’s is the breakdown of how we spend our annual household income: 12.99% for food, 34.43% for housing, 3.52% for apparel and services, 15.61% transportation, 6.37% for health care, 5.49% for entertainment, 11.15% for insurance premiums, and 10.45% for miscellaneous spending.
The fact that over 10% of our income is spent on “miscellaneous” items can seem alarming, particularly during this time of year, when many of my holiday purchases certainly fall in that category (although I certainly could argue that snowflake decorated Chinese takeout containers are a necessity for cookie giving!).
As the New Year approaches, it is a great time to think of rearranging your own spending breakdown, by making sure you are only spending on things that you truly need, and even letting a new category – savings – get a bigger piece of your annual income pie!
-Diana D., Maine Credit Union League
The fact that over 10% of our income is spent on “miscellaneous” items can seem alarming, particularly during this time of year, when many of my holiday purchases certainly fall in that category (although I certainly could argue that snowflake decorated Chinese takeout containers are a necessity for cookie giving!).
As the New Year approaches, it is a great time to think of rearranging your own spending breakdown, by making sure you are only spending on things that you truly need, and even letting a new category – savings – get a bigger piece of your annual income pie!
-Diana D., Maine Credit Union League
Wednesday, December 1, 2010
Playing Santa shouldn’t make you feel like the Grinch
The holidays are just around the corner, and if you haven’t prepared your budget for holiday parties and gift giving, you may be feeling the pressure. Looking into your local credit union may help. Many credit unions offer Holiday Loans and Skip-a-Pay plans.
A holiday loan is a short-term loan to help out with seasonal expenses including gifts, decorations, and even heating oil. These loans typically come with a low interest rate and can help keep you from using a credit card with a high interest rate. A Skip-a-Pay program allows you to skip or defer a loan payment for one month; this can really free up some money for the holidays.
The best way to avoid having to worry about your holiday finances is to start a Club account. These accounts allow you to make small monthly or weekly deposits throughout the year and in most cases the money is automatically transferred into your checking account at the beginning of October. Stop by your local credit union and ask how they can help you with your holiday spending.
Jess H., Maine Credit Union League
A holiday loan is a short-term loan to help out with seasonal expenses including gifts, decorations, and even heating oil. These loans typically come with a low interest rate and can help keep you from using a credit card with a high interest rate. A Skip-a-Pay program allows you to skip or defer a loan payment for one month; this can really free up some money for the holidays.
The best way to avoid having to worry about your holiday finances is to start a Club account. These accounts allow you to make small monthly or weekly deposits throughout the year and in most cases the money is automatically transferred into your checking account at the beginning of October. Stop by your local credit union and ask how they can help you with your holiday spending.
Jess H., Maine Credit Union League
Tuesday, November 23, 2010
‘Tis the season for stress? Make your holiday budget one less stressor!
Holiday shopping seems to bring out two types of people; those that have been preparing for months and have already completed most of their shopping by mid-November, and those, like me, who procrastinate and are starting to realize that holidays are right around the corner and they haven’t even started shopping yet.
With only four weekends of holiday shopping left, staying within my budget is my biggest concern and my biggest stressor. Between holiday parties, shopping and trying to find time to decorate, the holidays can be stressful; why add to the list by worrying about your budget? It is easy to go over budget if you haven’t planned ahead, so take an afternoon and make a list of who you need to shop for and what you want to get them. One way I've tried to stay in budget is to set a dollar amount for each person, then shop for one person at a time and only bring the amount that I plan on spending. This can save you from buying too much and going over budget.
Another way to stay within budget is to give homemade gifts. These small thoughtful gifts often mean more to the recipient than a store bought gift. One year, I made everyone a blanket and a scarf and every year my friends still use them, which make it well worth the $20 I spent on fabric and yarn.
Jess H., Maine Credit Union League
With only four weekends of holiday shopping left, staying within my budget is my biggest concern and my biggest stressor. Between holiday parties, shopping and trying to find time to decorate, the holidays can be stressful; why add to the list by worrying about your budget? It is easy to go over budget if you haven’t planned ahead, so take an afternoon and make a list of who you need to shop for and what you want to get them. One way I've tried to stay in budget is to set a dollar amount for each person, then shop for one person at a time and only bring the amount that I plan on spending. This can save you from buying too much and going over budget.
Another way to stay within budget is to give homemade gifts. These small thoughtful gifts often mean more to the recipient than a store bought gift. One year, I made everyone a blanket and a scarf and every year my friends still use them, which make it well worth the $20 I spent on fabric and yarn.
Jess H., Maine Credit Union League
Friday, November 19, 2010
Maine CUs take the hassle out of holidays!
The holidays. Time for food, friends, family, and for many, the travel it takes to get to see them! It is a long drive to get from southern Maine, to reach the final destination of my hometown of Caribou for Thanksgiving at my grandmother’s house, but is worth every mile! Beyond the comfort of being home, as a credit union member, I have the comfort of knowing that my credit union is with me wherever I go!
Credit union locations in Maine have grown to more than 190, including 133 shared branch locations, meaning that Maine CUs now have more than three times as many locations as any other financial institution in the state! For me, that means that if I need cash in Caribou, there is a credit union there for me, and, when I travel to Madawaska for Thanksgiving #2 with my husband’s family, several credit unions will still be in my reach! In a hectic time, taking the worry about finances off my holiday plate is something to be thankful for!
Happy Thanksgiving!
-Diana D., Maine Credit Union League
Credit union locations in Maine have grown to more than 190, including 133 shared branch locations, meaning that Maine CUs now have more than three times as many locations as any other financial institution in the state! For me, that means that if I need cash in Caribou, there is a credit union there for me, and, when I travel to Madawaska for Thanksgiving #2 with my husband’s family, several credit unions will still be in my reach! In a hectic time, taking the worry about finances off my holiday plate is something to be thankful for!
Happy Thanksgiving!
-Diana D., Maine Credit Union League
Wednesday, November 10, 2010
A new port in the storm – Shared Branching Kiosks!
As the weather starts feeling more like winter, making that extra trip becomes less and less appealing. And what’s even worse? The thought of being stranded and needing cash when your branch is nowhere to be found. Enter Shared Branching! There are countless stories of how this convenient service turned an unlucky member to happy Shared Branch user.
And now, for many CU members, Shared Branching goes beyond the branch, and even a teller, thanks to the introduction of Shared Branching kiosks! This incredible new addition to Shared Branching allows members to conduct the same Shared Branching transactions that usually require an open branch and helpful teller, through a kiosk – similar to an ATM. Using the kiosk couldn’t be easier. Once you’ve set up your account to ensure your information stays safe, it only a moment to deposit a check, make a withdrawal, or transfer funds! I recently used a nearby kiosk to deposit a check and make a quick withdrawal, allowing me to complete an errand in couple of minutes, rather than having to spend a lunch break on it!
Here is what Amy Irish, Marketing Director for University Credit Union, which now offers several of these kiosks, has seen as members begin enjoying this new convenience:
“Credit Union members and Shared Branching users have been impressed with both the technology and the ease of use of the kiosks, from the simple on-screen directions for registering to the printed check image on the receipt after making a check deposit. Members have been excited that the kiosks accept both cash and checks, as well as hold various denominations for disbursement.
The major theme we have seen across all locations of the kiosks is convenience, as it provides members the opportunity to complete their transactions outside normal business hours. As three of our kiosks are located on University of Maine campuses, we have seen great support from the student demographic who like the convenient access to their funds without having to drive to a branch!”
And now, for many CU members, Shared Branching goes beyond the branch, and even a teller, thanks to the introduction of Shared Branching kiosks! This incredible new addition to Shared Branching allows members to conduct the same Shared Branching transactions that usually require an open branch and helpful teller, through a kiosk – similar to an ATM. Using the kiosk couldn’t be easier. Once you’ve set up your account to ensure your information stays safe, it only a moment to deposit a check, make a withdrawal, or transfer funds! I recently used a nearby kiosk to deposit a check and make a quick withdrawal, allowing me to complete an errand in couple of minutes, rather than having to spend a lunch break on it!
Here is what Amy Irish, Marketing Director for University Credit Union, which now offers several of these kiosks, has seen as members begin enjoying this new convenience:
“Credit Union members and Shared Branching users have been impressed with both the technology and the ease of use of the kiosks, from the simple on-screen directions for registering to the printed check image on the receipt after making a check deposit. Members have been excited that the kiosks accept both cash and checks, as well as hold various denominations for disbursement.
The major theme we have seen across all locations of the kiosks is convenience, as it provides members the opportunity to complete their transactions outside normal business hours. As three of our kiosks are located on University of Maine campuses, we have seen great support from the student demographic who like the convenient access to their funds without having to drive to a branch!”
Friday, October 22, 2010
SURF Dude has found his top summer spot!
SURF Dude knows where he will be headed next summer thanks to the winner of our SURF Dude photo competition! The winning photo was taken at Student Island on Mooselookmeguntik Lake in Rangeley, Maine. The winner, who is also a Maine credit union member, has won $300 – that is the average amount that Maine credit union members save by using a surcharge-free SURF ATM!
The contest highlighted the many beautiful places that Maine has to offer. And for every must-see location, there is sure to be surcharge-free ATM nearby! SURF is a network of over 200 surcharge-free ATMs located throughout Maine! With the SURF network, ‘no fees’ means just that—there are no fees at your ATM, or anywhere else!
Check out the winning photo below, and click here to check out the many SURF ATM locations in Maine!
The contest highlighted the many beautiful places that Maine has to offer. And for every must-see location, there is sure to be surcharge-free ATM nearby! SURF is a network of over 200 surcharge-free ATMs located throughout Maine! With the SURF network, ‘no fees’ means just that—there are no fees at your ATM, or anywhere else!
Check out the winning photo below, and click here to check out the many SURF ATM locations in Maine!
Monday, October 18, 2010
It’s Time to Celebrate Credit Union Week!
If you want to feel appreciated this week, look no further than your credit union! That is because from October 17-22, members of Maine credit unions will join the 184 million credit union members belonging to over 49,000 credit unions in 97 countries worldwide to celebrate International Credit Union Week. For 62 years, credit unions have set aside the third Thursday in October to celebrate International Credit Union Day. This special occasion gives credit unions an opportunity to remember their proud history, while promoting understanding and support for the credit union difference.
If you aren’t a credit union member, this is the perfect time to join! When you join a credit union, you can take advantage of the many benefits that come with belonging to an organization owned by, and focused on you, the member. Credit unions are not-for-profit, with a board made up of unpaid volunteers. Because you are an owner of your financial institution, you have an equal vote in the operations of that organization. This cooperative structure also allows all members to benefit from better rates and lower and fewer fees.
Beyond savings, the credit union philosophy of putting the interests of their members first means that your needs will always be met with exceptional service and consideration. So this week, celebrate the credit union difference by becoming a member, or stopping by your credit union to see what special activities they have in store for this special week!
If you aren’t a credit union member, this is the perfect time to join! When you join a credit union, you can take advantage of the many benefits that come with belonging to an organization owned by, and focused on you, the member. Credit unions are not-for-profit, with a board made up of unpaid volunteers. Because you are an owner of your financial institution, you have an equal vote in the operations of that organization. This cooperative structure also allows all members to benefit from better rates and lower and fewer fees.
Beyond savings, the credit union philosophy of putting the interests of their members first means that your needs will always be met with exceptional service and consideration. So this week, celebrate the credit union difference by becoming a member, or stopping by your credit union to see what special activities they have in store for this special week!
Friday, October 8, 2010
Shared Branching Contest in Maine
We have a winner!
Congratulations to L.D. of Augusta, the winner of our Share It Competition! She has won $500 to share with a friend or charity! Her story shares how by using Shared Branching, a car-buying adventure had a happy ending! Here is her story:
“My son was ready to buy a car, but the dealer needed a certified check! Time was running out, and a storm was coming! The car salesman found directions to the closest shared branch. We found the credit union in time; my son got his certified check and ultimately his car. We were back on the road by 5:00 pm and safely home that evening. Shared Branching saved the day!”
Congratulations also go out to our Second Place winners, T S-M from Bowdoin and K.S. from West Bath who will each receive a GPS System!
We have a winner!
Congratulations to L.D. of Augusta, the winner of our Share It Competition! She has won $500 to share with a friend or charity! Her story shares how by using Shared Branching, a car-buying adventure had a happy ending! Here is her story:
“My son was ready to buy a car, but the dealer needed a certified check! Time was running out, and a storm was coming! The car salesman found directions to the closest shared branch. We found the credit union in time; my son got his certified check and ultimately his car. We were back on the road by 5:00 pm and safely home that evening. Shared Branching saved the day!”
Congratulations also go out to our Second Place winners, T S-M from Bowdoin and K.S. from West Bath who will each receive a GPS System!
Monday, September 27, 2010
There’s more to fall in Maine
Fall is officially here, and with it comes colder weather, football games and falling leaves. Fall foliage in New England draws people from across the country to enjoy the vibrant colors of the changing leaves. While the leaves don’t reach their peak until the beginning of October, if you are preparing a weekend trip you should start making plans now.
Foliage trips are a big draw for areas like the White Mountains in New Hampshire, so if you are set on going away for a weekend, you should make hotel reservations soon to ensure their availability. However there are plenty of areas for leaf peeping right here in Maine, and because of our state’s diversified climates you can take several trips at different times. Northern areas of the state such as Caribou typically have their peak leaf season at the end of September, while for southern areas such as Freeport peak season is usually mid to late October. Maine credit unions want you to make the most of your time this Fall, taking advantage of conveniences like Shared Branching and the SURF surcharge-free ATM network allow you to take your credit union with you, wherever your leaf peeping trips take you.
-Jess H., Maine Credit Union League
Foliage trips are a big draw for areas like the White Mountains in New Hampshire, so if you are set on going away for a weekend, you should make hotel reservations soon to ensure their availability. However there are plenty of areas for leaf peeping right here in Maine, and because of our state’s diversified climates you can take several trips at different times. Northern areas of the state such as Caribou typically have their peak leaf season at the end of September, while for southern areas such as Freeport peak season is usually mid to late October. Maine credit unions want you to make the most of your time this Fall, taking advantage of conveniences like Shared Branching and the SURF surcharge-free ATM network allow you to take your credit union with you, wherever your leaf peeping trips take you.
-Jess H., Maine Credit Union League
Tuesday, September 14, 2010
Members Share how Shared Branching Saved the Day!
As our Share It Competition continues, credit union members from throughout Maine have shared some great reasons why they love Shared Branching! There’s still time to tell your story! Tell us your favorite sharing moment, or why you love Shared Branching by September 30, and that $500 could be yours to share! Need inspiration? Take a look at the following entries!
“My favorite sharing moment happened just this past week. My son, a freshman at The University of Maine, called telling us he was being switched out of one class he was mistakenly placed in and put into the correct class. Different class - different book. As he checked online to see if the university bookstore had what he needed, he saw that there was one used book available. He hurried over to the local credit union and because of Shared Branching, was able to withdraw the funds from his account with his hometown CU and buy the book right away. Not having to wait for a check from us, enabled him to save money with the used book get caught up on the homework! We are so very happy that Shared Branching was available!"
-T.C-M.
“I opened my account with my credit union in Brunswick when I was a teenager, 27 years ago. I have been able to keep this one account all that time, despite living in other towns, states, and countries. My favorite moment is when I made a COLOSSAL error using my debit card in Canada, and the credit union staff were incredible in getting things straightened out!”
-N.M.
-Diana D., Maine Credit Union League
“My favorite sharing moment happened just this past week. My son, a freshman at The University of Maine, called telling us he was being switched out of one class he was mistakenly placed in and put into the correct class. Different class - different book. As he checked online to see if the university bookstore had what he needed, he saw that there was one used book available. He hurried over to the local credit union and because of Shared Branching, was able to withdraw the funds from his account with his hometown CU and buy the book right away. Not having to wait for a check from us, enabled him to save money with the used book get caught up on the homework! We are so very happy that Shared Branching was available!"
-T.C-M.
“I opened my account with my credit union in Brunswick when I was a teenager, 27 years ago. I have been able to keep this one account all that time, despite living in other towns, states, and countries. My favorite moment is when I made a COLOSSAL error using my debit card in Canada, and the credit union staff were incredible in getting things straightened out!”
-N.M.
-Diana D., Maine Credit Union League
Wednesday, September 8, 2010
When it comes to getting cash fast, nothing beats the ATM!
With seemingly endless opportunities to pay for purchases online or with credit cards, it may seem like ATMs are machines of the past. Not so according to a recent study, which revealed that there are currently more than two million ATMs in service worldwide, and 300,000 to 400,000 ATMs in the U.S.
For members of Maine credit unions, accessing one these ATMs is easy- and surcharge free, thanks to the SURF ATM Network! SURF is a network of over 200 surcharge-free ATMs located throughout Maine! Credit union members can save at least an average of $300 a year on surcharge fees when using the SURF network- one of the largest ATM networks in the state! With the SURF network, ‘no fees’ means just that—there are no fees at your ATM, or anywhere else! In addition, a number of SURF ATM locations give thousands of Maine credit union members the ability to make deposits, surcharge-free.
Not only are ATMs unimpaired by technology such as smart phones- the two go hand in hand to make accessing surcharge-free ATMs even more convenient! A new iPhone app allows you to find surcharge-free ATMs in Maine from your current location! Map out vacation destinations and where to find cash. The iPhone app is free, and lists all SURF ATMs, contact info, mapping instructions and displays the new SURF mascot, SURF Dude. Visit the iTunes app store and download it today!
Click here for a complete listing of the SURF ATM locations in Maine!
-Diana D., Maine Credit Union League
For members of Maine credit unions, accessing one these ATMs is easy- and surcharge free, thanks to the SURF ATM Network! SURF is a network of over 200 surcharge-free ATMs located throughout Maine! Credit union members can save at least an average of $300 a year on surcharge fees when using the SURF network- one of the largest ATM networks in the state! With the SURF network, ‘no fees’ means just that—there are no fees at your ATM, or anywhere else! In addition, a number of SURF ATM locations give thousands of Maine credit union members the ability to make deposits, surcharge-free.
Not only are ATMs unimpaired by technology such as smart phones- the two go hand in hand to make accessing surcharge-free ATMs even more convenient! A new iPhone app allows you to find surcharge-free ATMs in Maine from your current location! Map out vacation destinations and where to find cash. The iPhone app is free, and lists all SURF ATMs, contact info, mapping instructions and displays the new SURF mascot, SURF Dude. Visit the iTunes app store and download it today!
Click here for a complete listing of the SURF ATM locations in Maine!
-Diana D., Maine Credit Union League
Wednesday, September 1, 2010
Look who’s sharing!
Our latest Share It! Competition asks credit union members share their favorite sharing moment, or why they love Shared Branching, for a chance to win $500! The most creative entry we receive by September 30 will make one member $500 richer, while two runners-up will win a GPS! Here are some of our latest entries:
“I like Shared Branching because you get the same friendly service as your credit union at all shared branches. They all welcome you and treat you like you opened your account with them -you're part of that family!”
“I love my credit union because they not only answered my Facebook question promptly, but they are ALWAYS so pleasant to deal with. You can hear their smile on the phone while you're talking to them. The loan officer treats us as though we are long time friends, and the online banking is so convenient! Our family will be long time members for sure!”
“I love Shared Branching because you can access your account no matter where you go! Members away at college have the opportunity to keep their accounts (where mom and dad can deposit money), and they can find a credit union near their college to do business with.”
So what do you love to share? Tell us today, and soon you could be sharing $500!
-Diana D., Maine Credit Union League
“I like Shared Branching because you get the same friendly service as your credit union at all shared branches. They all welcome you and treat you like you opened your account with them -you're part of that family!”
“I love my credit union because they not only answered my Facebook question promptly, but they are ALWAYS so pleasant to deal with. You can hear their smile on the phone while you're talking to them. The loan officer treats us as though we are long time friends, and the online banking is so convenient! Our family will be long time members for sure!”
“I love Shared Branching because you can access your account no matter where you go! Members away at college have the opportunity to keep their accounts (where mom and dad can deposit money), and they can find a credit union near their college to do business with.”
So what do you love to share? Tell us today, and soon you could be sharing $500!
-Diana D., Maine Credit Union League
Friday, August 20, 2010
Why are we still paying more for these things? 6 ways to start saving now.
Sometimes what seems like an easy, convenient buy can be secretly hurting your budget. Here is a list of 6 things that you could be wasting money on:
1. Bottled water - I know that you are supposed to drink eight glasses of water a day, but do you really need to buy bottled water? You could spend around $35 dollars for a 40 ounce Brita pitcher and a four pack of replacement filters and be able to filter 200 gallons of water. If you bought that much water in 24 pack of bottled water, it would cost you around $280.00.
2. Coffee - OK, I’ll admit, I’m guilty of this one. It just seems so convenient to stop at Starbucks to get my daily coffee fix, until you realize you are spending $4 for a fancy cup of coffee. Try creating a similar drink at home. If you want café mocha, try adding hot chocolate with milk to your cup of coffee in the morning. If you really need a frappachino, blend coffee, ice, milk and chocolate or caramel sauce to make your own.
3. Pre-cut fruits and vegetables - I’m not saying you shouldn’t buy fresh fruits and veggies, but you really need to buy the prepackaged version? Sure, pre-cut veggies and bagged salad mix do save you time, but it will end up costing you almost double compared to uncut versions. It just takes a few minutes to slice up your fruits and vegetables, and it will save you money.
4. Books - Books can be expensive, particularly new releases. Try your local library; you might be surprised at what you can find. Or try a website like BookSwim, it’s like Netflix for books. For $24 a month I can get three books at a time, when I finish one, I just mail it back in the prepaid package. If I were to buy three new books a month that would easily cost $40 a month.
5. Magazines - Why spend money on a magazine subscription when you could read the same articles online?
6. Going to the movies - Have you been to the movies lately? The price of movie tickets can cost anywhere from $8-$14 for one ticket! If you absolutely can’t wait till a movie is released on DVD, think about this: Do you really need to see the movie right away, at a new theater? Or could you pay a little less and see it at the older theater down the road that might not charge as much, or better yet wait until the movie is playing in a second-run theater.
-Jess H., Maine Credit Union League
1. Bottled water - I know that you are supposed to drink eight glasses of water a day, but do you really need to buy bottled water? You could spend around $35 dollars for a 40 ounce Brita pitcher and a four pack of replacement filters and be able to filter 200 gallons of water. If you bought that much water in 24 pack of bottled water, it would cost you around $280.00.
2. Coffee - OK, I’ll admit, I’m guilty of this one. It just seems so convenient to stop at Starbucks to get my daily coffee fix, until you realize you are spending $4 for a fancy cup of coffee. Try creating a similar drink at home. If you want café mocha, try adding hot chocolate with milk to your cup of coffee in the morning. If you really need a frappachino, blend coffee, ice, milk and chocolate or caramel sauce to make your own.
3. Pre-cut fruits and vegetables - I’m not saying you shouldn’t buy fresh fruits and veggies, but you really need to buy the prepackaged version? Sure, pre-cut veggies and bagged salad mix do save you time, but it will end up costing you almost double compared to uncut versions. It just takes a few minutes to slice up your fruits and vegetables, and it will save you money.
4. Books - Books can be expensive, particularly new releases. Try your local library; you might be surprised at what you can find. Or try a website like BookSwim, it’s like Netflix for books. For $24 a month I can get three books at a time, when I finish one, I just mail it back in the prepaid package. If I were to buy three new books a month that would easily cost $40 a month.
5. Magazines - Why spend money on a magazine subscription when you could read the same articles online?
6. Going to the movies - Have you been to the movies lately? The price of movie tickets can cost anywhere from $8-$14 for one ticket! If you absolutely can’t wait till a movie is released on DVD, think about this: Do you really need to see the movie right away, at a new theater? Or could you pay a little less and see it at the older theater down the road that might not charge as much, or better yet wait until the movie is playing in a second-run theater.
-Jess H., Maine Credit Union League
Monday, August 16, 2010
This Back to School Season, Go Green and Save!
As you prepare for and kick off the new school year, whether you (or your child) are heading to preschool or college, here are some ideas on how to make smart decisions for your wallet, and the environment!
Take stock of what you already have. Before you head to the store, take a walk around your house to see if any items, such as rulers or calculators, could be used both at home and school. Restock old binders with new paper instead of wasting money (and resources) on new spiral notebooks. Instead of buying pencils and pens, remember to grab the freebees businesses often hand out (Hint: many credit unions love to hand out pens with their logos!)
Remember to recycle. A new start often means it’s time to get rid of old things taking up space. Make sure that all those old papers, tests you’d like to forget, and even old printer ink cartridges find their way to the appropriate recycling bin, not the trash can.
Trade in paper lunch bags and plastic baggies for insulated lunch bags and plastic containers. Not only do they save money and reduce waste, but a lunch bag in your favorite color or featuring your favorite cartoon character express your personality far more that a drab brown bag.
Think before you print! No, you can’t use the excuse that you are “going green” to avoid handing in a paper, but do you really need to print that funny email?
Walk! Or bike, or even carpool. Planning extra time to get to school a greener way is well worth the effort- and gives you the joy of not having to find a parking spot!
-Diana D., Maine Credit Union League
Take stock of what you already have. Before you head to the store, take a walk around your house to see if any items, such as rulers or calculators, could be used both at home and school. Restock old binders with new paper instead of wasting money (and resources) on new spiral notebooks. Instead of buying pencils and pens, remember to grab the freebees businesses often hand out (Hint: many credit unions love to hand out pens with their logos!)
Remember to recycle. A new start often means it’s time to get rid of old things taking up space. Make sure that all those old papers, tests you’d like to forget, and even old printer ink cartridges find their way to the appropriate recycling bin, not the trash can.
Trade in paper lunch bags and plastic baggies for insulated lunch bags and plastic containers. Not only do they save money and reduce waste, but a lunch bag in your favorite color or featuring your favorite cartoon character express your personality far more that a drab brown bag.
Think before you print! No, you can’t use the excuse that you are “going green” to avoid handing in a paper, but do you really need to print that funny email?
Walk! Or bike, or even carpool. Planning extra time to get to school a greener way is well worth the effort- and gives you the joy of not having to find a parking spot!
-Diana D., Maine Credit Union League
Thursday, August 5, 2010
Festivals, Music and More
It is the weekend of festivals and fairs around the state -- from New Sweden to Lewiston -- there is an event for everyone. You can find Maine’s Credit Unions as one of the sponsors of the Maine Lobster Festival in Rockland from August 4th-8th, with face painting, live music, tours of a Navy Ship and a parade.
If dance or music is more your scene, this is the last weekend of the Bates Dance Festival on the Bates College campus in Lewiston. This Saturday, August 7th they are having a Young Choreographers Showcase and the Festival Finale. The Arootsakoostik Music Festival is also this Saturday in New Sweden; this event features more than two dozen Music Acts and the proceeds from the festival go to local charities.
No matter where your weekend takes you don’t forget to look for surcharge free SURF ATMs throughout the state -- just look for SURF Dude and you’ll save on surcharge fees. Send us a photo of your favorite spot this weekend and you could win $300!! Click here for more information about SURF Dude’s photo contest.
Jess H., Maine Credit Union League
If dance or music is more your scene, this is the last weekend of the Bates Dance Festival on the Bates College campus in Lewiston. This Saturday, August 7th they are having a Young Choreographers Showcase and the Festival Finale. The Arootsakoostik Music Festival is also this Saturday in New Sweden; this event features more than two dozen Music Acts and the proceeds from the festival go to local charities.
No matter where your weekend takes you don’t forget to look for surcharge free SURF ATMs throughout the state -- just look for SURF Dude and you’ll save on surcharge fees. Send us a photo of your favorite spot this weekend and you could win $300!! Click here for more information about SURF Dude’s photo contest.
Jess H., Maine Credit Union League
Thursday, July 22, 2010
We want to CU Move Your Money
Many people have heard of the Move Your Money Project in the news lately; but in case you haven’t, it is a campaign that encourages people to move their primary accounts from “Too Big to Fail” banks and into local financial institutions. It has been touted by everyone from the New York Times and Suze Orman to Michael Moore; and it has led to a group of credit unions to create CU Move Your Money.
CU Move Your Money is a website that offers information and personal accounts on why people should look into their local credit unions. There is even a credit union locator on their website so you have another tool to find a credit union near you. You already know credit unions are not-for-profit, and frequently offer lower rates on loans. So what are you waiting for, visit CUMoveYourMoney.com and check it out, maybe you will join the over 5,000 people who have committed to moving their money.
-Jess H., Maine Credit Union League
CU Move Your Money is a website that offers information and personal accounts on why people should look into their local credit unions. There is even a credit union locator on their website so you have another tool to find a credit union near you. You already know credit unions are not-for-profit, and frequently offer lower rates on loans. So what are you waiting for, visit CUMoveYourMoney.com and check it out, maybe you will join the over 5,000 people who have committed to moving their money.
-Jess H., Maine Credit Union League
Tuesday, July 20, 2010
Get more from your reunion (and your money) this summer!
It’s reunion season, and be it for high school, college, or even band camp, the big event – and the costs that come with it, can sure sneak up on you! Here are some tips to help take some of the stress and expense out of reconnecting with old friends.
Use Facebook or other social media outlets to keep in touch with the alumni center and/or reunion committee at your former school. Even if you do not receive update requests, make a point of letting someone know each time your contact information changes, so you don’t find out at the last minute.
Start a reunion savings fund. This is particularly important if attending your reunion will require travel and accommodation expenses, in addition to fees for the reunion itself. Planning and saving ahead of time will make the cost as painless as possible.
Reserve time off from work well in advance to ensure that you are covered. Although most reunions occur during the weekend, you may need an extra day for travel.
If possible, stay with friends (or your parents!) who live near where the reunion is being held. If not, ask the reunion committee about hotel room blocks. You may be able to take advantage of reunion discounts if you stay at the group hotel.
Do your homework and connect with classmates near you to carpool to the event. If you have to fly, make airline reservations well in advance to ensure the best possible rate.
Make it worth it by making the most of the opportunity to reconnect! Get yourself in the reunion spirit by browsing through old photo albums, school yearbooks and videos, and reminiscing with friends online or in person.
Happy reuniting!
-Diana D., Maine Credit Union League
Use Facebook or other social media outlets to keep in touch with the alumni center and/or reunion committee at your former school. Even if you do not receive update requests, make a point of letting someone know each time your contact information changes, so you don’t find out at the last minute.
Start a reunion savings fund. This is particularly important if attending your reunion will require travel and accommodation expenses, in addition to fees for the reunion itself. Planning and saving ahead of time will make the cost as painless as possible.
Reserve time off from work well in advance to ensure that you are covered. Although most reunions occur during the weekend, you may need an extra day for travel.
If possible, stay with friends (or your parents!) who live near where the reunion is being held. If not, ask the reunion committee about hotel room blocks. You may be able to take advantage of reunion discounts if you stay at the group hotel.
Do your homework and connect with classmates near you to carpool to the event. If you have to fly, make airline reservations well in advance to ensure the best possible rate.
Make it worth it by making the most of the opportunity to reconnect! Get yourself in the reunion spirit by browsing through old photo albums, school yearbooks and videos, and reminiscing with friends online or in person.
Happy reuniting!
-Diana D., Maine Credit Union League
Tuesday, July 13, 2010
Sharing Summer Photos Could Mean More Money in Your Pocket - $300 More!
After months of piling on layers to protect against frigid temperatures, shoveling snow, and braving icy roads, these summer months are a well-deserved treat. What could be better than relaxing by a lake, lounging on the beach, or enjoying a peaceful hike in the woods? Getting cash for doing just that! This summer, Maine credit unions want to reward you for sharing your favorite summer spots with us!
We want you to help us answer the question- where in Maine is SURF Dude? The new mascot for the Surcharge Free ATM Network, when you see SURF Dude, you know you are at one of the over 200 Surcharge Free ATMs located throughout Maine!
Getting a chance to take home $300 is simple- Between July 8 and October 21, let us know where you think SURF Dude should go this summer by sharing digital photos of your favorite vacation spots, through email, on Facebook as SURF Dude, or Twitter as SURFDudeME. The most creative and original snapshot will win $300 (the total dollar amount a member can save in ATM fees by using SURF over one year) on October 21, International Credit Union Day! Click here to view contest rules, and start snapping pictures of your favorite spots today!
-Diana D., Maine Credit Union League
We want you to help us answer the question- where in Maine is SURF Dude? The new mascot for the Surcharge Free ATM Network, when you see SURF Dude, you know you are at one of the over 200 Surcharge Free ATMs located throughout Maine!
Getting a chance to take home $300 is simple- Between July 8 and October 21, let us know where you think SURF Dude should go this summer by sharing digital photos of your favorite vacation spots, through email, on Facebook as SURF Dude, or Twitter as SURFDudeME. The most creative and original snapshot will win $300 (the total dollar amount a member can save in ATM fees by using SURF over one year) on October 21, International Credit Union Day! Click here to view contest rules, and start snapping pictures of your favorite spots today!
-Diana D., Maine Credit Union League
Wednesday, June 30, 2010
Life after graduation: there’s more to learn about finances
Let’s face it, paying back student loans is by far the worst part of college; I would rather sit through another semester with my dull, monotone American History professor than deal with repaying my loans. While I was lucky enough to get a full time job a few weeks after graduating, finding extra money in my budget for student loans is difficult enough, add in rent, food, credit cards and other expenses and it can feel like your budget is stretched to the max.
I’ll admit that I am not the best at balancing a checkbook or making a budget, so there are ways that I’ve been trying to improve. I started by using Mint.com to analyze where I was spending my money. The graphs I was able to make showed my spending habits and where I needed to cut back. By analyzing my spending and switching my payment plans for my loans, I will be able to start saving money instead of spending it.
So while this might not be where I pictured myself financially a year after graduating, at least this past year has showed how and why I need to take more responsibility for my finances. I know there are more resources out there to check out, and that credit unions are always there to help.
Jess H., Maine Credit Union League
I’ll admit that I am not the best at balancing a checkbook or making a budget, so there are ways that I’ve been trying to improve. I started by using Mint.com to analyze where I was spending my money. The graphs I was able to make showed my spending habits and where I needed to cut back. By analyzing my spending and switching my payment plans for my loans, I will be able to start saving money instead of spending it.
So while this might not be where I pictured myself financially a year after graduating, at least this past year has showed how and why I need to take more responsibility for my finances. I know there are more resources out there to check out, and that credit unions are always there to help.
Jess H., Maine Credit Union League
Monday, June 28, 2010
There’s more for you to do this summer without blowing your budget
Is it just me or do people really spend more money during the summer months? Between trips to amusement parks, going out to eat and shopping for summer essentials, I spend a ton of money during the warm summer months. So this summer I’ve decided to make a list of activities that won’t require me to break open that emergency piggy bank of spare change.
1. Go to the Beach… and bring your own snacks. Maine has a ton of beaches, and going to the beach is free and can be an enormous amount of fun for friends, family and colleagues. Also, during the summer months the beach will be full of people of every age, creating an environment and atmosphere for everyone to enjoy. Just make sure to pack your own lunches and snacks in a cooler. Being prepared with drinks, sandwiches and other items will save you money on concession stands and restaurants that are near the beach.
2. Have a movie night. Whether you use Netflix or a Redbox, renting movies is as easy as ever. Get a group of friends together and have everyone bring a movie, either from their own collection, or something rented and make an evening of it. Personally, my friends and I love B-list horror movies, so every few weeks we rent a movie, make some popcorn and prepare to mock some awful acting.
3. Workout in your neighborhood. My neighbor organized a weekly walk/run in my town, every Saturday morning a group of people will get together and walk/run through various trails and hiking paths in and around my town. Not only is this free, but it is a great way to get fresh air, exercise and connect with your neighbors.
4. Host a BBQ. This can easily be done on a budget. Offer to supply the location, grill and main dish, and have everyone bring a side dish or dessert. Not only will you get to hang out with friends, you never know when someone will bring a new recipe that you will love.
5. Break out the board games. When was the last time you played a board game? Dust off your favorite game, and call some friends; you’d be surprised how quickly Pictionary becomes competitive.
Jess H., Maine Credit Union League
1. Go to the Beach… and bring your own snacks. Maine has a ton of beaches, and going to the beach is free and can be an enormous amount of fun for friends, family and colleagues. Also, during the summer months the beach will be full of people of every age, creating an environment and atmosphere for everyone to enjoy. Just make sure to pack your own lunches and snacks in a cooler. Being prepared with drinks, sandwiches and other items will save you money on concession stands and restaurants that are near the beach.
2. Have a movie night. Whether you use Netflix or a Redbox, renting movies is as easy as ever. Get a group of friends together and have everyone bring a movie, either from their own collection, or something rented and make an evening of it. Personally, my friends and I love B-list horror movies, so every few weeks we rent a movie, make some popcorn and prepare to mock some awful acting.
3. Workout in your neighborhood. My neighbor organized a weekly walk/run in my town, every Saturday morning a group of people will get together and walk/run through various trails and hiking paths in and around my town. Not only is this free, but it is a great way to get fresh air, exercise and connect with your neighbors.
4. Host a BBQ. This can easily be done on a budget. Offer to supply the location, grill and main dish, and have everyone bring a side dish or dessert. Not only will you get to hang out with friends, you never know when someone will bring a new recipe that you will love.
5. Break out the board games. When was the last time you played a board game? Dust off your favorite game, and call some friends; you’d be surprised how quickly Pictionary becomes competitive.
Jess H., Maine Credit Union League
Wednesday, June 23, 2010
Success by Committee
Hopefully, Maine consumers have been able to realize that credit unions across the state value sharing with one another. Whether it’s an idea, a laugh or a tear, we let each other know about it. Not only do our relationships create a higher level of service and convenience to our members, they allow us to enjoy the camaraderie of being cooperative in nature. In other words, we have fun together! This is evident with the expansion of the Shared Branching and SURF (Surcharge Free ATMs) Networks.
However, these same folks may not realize that this particular concept of sharing is an important goal among credit unions. It helps us successfully develop our organizations for the future. This goal is further explained as an effort to move toward high collaboration and low competition between interdependent units.
Let me explain how credit unions are doing:
1.) High Collaboration – Like never before, credit unions are pooling together their resources to serve members at large. With Shared Branching and SURF, they can actually go into or visit different—yet participating—credit unions to conduct certain transactions or use a free ATM. We also contribute to promoting the credit union message as a whole throughout the state. I’d say we’re getting pretty good at highly collaborating!
2.) Low Competition – It is more important for a person to stay a member of A credit union rather than become a member of OUR credit union. We just feel that a credit union is a place that will benefit everyone. This thought process enables us to freely open our facilities to those in the Shared Branching Network. Need I say more?
3.) Interdependent – Basically, this term means that even though unique organizations function separately, they depend on each other for greater success. As more and more credit unions join hands, a strong and secure financial option emerges—thus becoming more appealing for a lot more Mainers. Have you ever heard that there is strength in numbers?
It sounds to me that Maine credit unions have adopted a very proactive approach to the way they do business. We want to succeed. We want to grow. We want to help more Mainers. We will partly achieve this through good, old fashioned teamwork.
Who wouldn’t want to be part of a financial group like this? GO TEAM!
-Ryan O., Lisbon Community Federal Credit Union
However, these same folks may not realize that this particular concept of sharing is an important goal among credit unions. It helps us successfully develop our organizations for the future. This goal is further explained as an effort to move toward high collaboration and low competition between interdependent units.
Let me explain how credit unions are doing:
1.) High Collaboration – Like never before, credit unions are pooling together their resources to serve members at large. With Shared Branching and SURF, they can actually go into or visit different—yet participating—credit unions to conduct certain transactions or use a free ATM. We also contribute to promoting the credit union message as a whole throughout the state. I’d say we’re getting pretty good at highly collaborating!
2.) Low Competition – It is more important for a person to stay a member of A credit union rather than become a member of OUR credit union. We just feel that a credit union is a place that will benefit everyone. This thought process enables us to freely open our facilities to those in the Shared Branching Network. Need I say more?
3.) Interdependent – Basically, this term means that even though unique organizations function separately, they depend on each other for greater success. As more and more credit unions join hands, a strong and secure financial option emerges—thus becoming more appealing for a lot more Mainers. Have you ever heard that there is strength in numbers?
It sounds to me that Maine credit unions have adopted a very proactive approach to the way they do business. We want to succeed. We want to grow. We want to help more Mainers. We will partly achieve this through good, old fashioned teamwork.
Who wouldn’t want to be part of a financial group like this? GO TEAM!
-Ryan O., Lisbon Community Federal Credit Union
Wednesday, June 16, 2010
Maine Credit Unions’ “Share It” Competition Helps CU Bring Hope to Children in Need
When Community Credit Union, located in Lewiston, ME, was revealed as the winner of Maine Credit Unions’ “Share It” competition, it was not only the credit union that came away with a prize. In this statewide contest, credit unions that are a part of the Shared Branch Network were asked to create their own “Top 10 List” on why to use Shared Branching, or what they love to share. Community CU’s entertaining film with an old fashioned, black and white movie look, which acted out 10 different ways Shared Branching benefits members, won the competition, and with that $500 to share with a charity of their choice. The credit union chose A Family For Me, a collaborative program with the Maine Department of Health and Human Services that serves as Maine's statewide recruitment initiative for foster and adoptive families.
“We allowed our employees to vote for the organization and they chose A Family For Me,” Kerry Wood, Executive Vice President for Community Credit Union, explained. “We have an employee who lived in many foster families throughout her life and from her stories have learned the value of this program and its service.”
“Currently in Maine, 155 children are waiting for an adoptive family,” said Grace Cleaves, Executive Director for A Family For Me. “This donation will help us connect potential adoptive parents with children whose only wish is to be a part of a family.”
For a complete listing of Shared Branching locations in Maine, visit the Shared Branching section of www.mainecreditunions.org. Or, for a listing of the thousands of nationwide locations, visit www.cuservicecenter.com.
-Diana D., Maine Credit Union League
“We allowed our employees to vote for the organization and they chose A Family For Me,” Kerry Wood, Executive Vice President for Community Credit Union, explained. “We have an employee who lived in many foster families throughout her life and from her stories have learned the value of this program and its service.”
“Currently in Maine, 155 children are waiting for an adoptive family,” said Grace Cleaves, Executive Director for A Family For Me. “This donation will help us connect potential adoptive parents with children whose only wish is to be a part of a family.”
For a complete listing of Shared Branching locations in Maine, visit the Shared Branching section of www.mainecreditunions.org. Or, for a listing of the thousands of nationwide locations, visit www.cuservicecenter.com.
-Diana D., Maine Credit Union League
Wednesday, June 9, 2010
Maine CUs Lend Imagination to Lending a Hand
When it comes to helping others, Maine credit unions not only go the extra mile in their efforts to make a difference, they also strive to find unique ways to capture the attention and creativity of their communities by raising funds in new and different ways! This week, two special events focused on a cause close to Maine credit unions, Ending Hunger. On June 7, the Maine Credit Unions’ Campaign for Ending Hunger shared two types of “bread,” the kind used for toast, and the kind used to buy food, with two food pantries in each Maine County at the sixth annual Share the Bread event. A total of $17,000, one of the largest, single-day contributions to multiple hunger organizations ever in Maine, was presented that day.
On June 8, one credit union raised funds for the cause by hitting the greens, armed with not golf clubs, but Frisbees for a Disc Golf Scramble. While skill levels ranged from getting a “hole in one” to many discs finding their ways into bodies of water, the good spirits and significant funds raised for Maine’s hungry made every toss worthwhile!
-Diana D., Maine Credit Union League
On June 8, one credit union raised funds for the cause by hitting the greens, armed with not golf clubs, but Frisbees for a Disc Golf Scramble. While skill levels ranged from getting a “hole in one” to many discs finding their ways into bodies of water, the good spirits and significant funds raised for Maine’s hungry made every toss worthwhile!
-Diana D., Maine Credit Union League
Tuesday, May 25, 2010
There is more to help teens budget
April was Financial Literacy month, but that doesn’t mean you have to wait another year to teach your children about managing money. Here are some tips to teaching your teenager how to start a budget they can stick to.
Smart money managers know exactly how much money they can count on coming in, and exactly how much money they need to spend on bills and day-to-day purchases. This way they know how much they can set aside to save for their bigger financial goals. And again, it all comes down to making a budget. By creating a budget you will see where all your money goes, decide if that’s how you want to continue spending it, and make a plan to buy the things that are really important to you.
The first rule of budgeting is spending less than you earn, and to do that you need to determine your income and estimate your required expenses, and your discretionary expenses. A teenager’s income may include a salary from a job, allowance, and birthday money. Expenses may be a cell phone bill, or gas money to drive to work and school. However, paying yourself comes first. This means putting money into a savings account on a regular basis. After you have subtract your required expenses from your income, you can use the money left over for your discretionary expenses, like clothes, pizza, video games, and other expenditures.
For a sample budget and a worksheet to create your own budget; and additional resources for parents and children about money management and personal finance visit http://www.mainecul.org/interior.php/pid/4/sid/14/tid/9.
-Jess H., Maine Credit Union League
Smart money managers know exactly how much money they can count on coming in, and exactly how much money they need to spend on bills and day-to-day purchases. This way they know how much they can set aside to save for their bigger financial goals. And again, it all comes down to making a budget. By creating a budget you will see where all your money goes, decide if that’s how you want to continue spending it, and make a plan to buy the things that are really important to you.
The first rule of budgeting is spending less than you earn, and to do that you need to determine your income and estimate your required expenses, and your discretionary expenses. A teenager’s income may include a salary from a job, allowance, and birthday money. Expenses may be a cell phone bill, or gas money to drive to work and school. However, paying yourself comes first. This means putting money into a savings account on a regular basis. After you have subtract your required expenses from your income, you can use the money left over for your discretionary expenses, like clothes, pizza, video games, and other expenditures.
For a sample budget and a worksheet to create your own budget; and additional resources for parents and children about money management and personal finance visit http://www.mainecul.org/interior.php/pid/4/sid/14/tid/9.
-Jess H., Maine Credit Union League
Monday, May 17, 2010
Start saving for retirement now, so you won't worry about it later
There is a whole new group of College graduates getting ready to enter the job force, and even though they are stepping into an unsure job market there are steps they can take now to secure their future. A big part of that is starting to save for retirement, and while the idea of paying back college loans seems daunting enough, now is the time to start saving for retirement.
The College Board estimated that one third of students graduating with a bachelors degree have college debt exceeding $20,000. But time is on their side, the average 22 year old graduate has 43 years before retiring at age 65, 48 years if they work until age 70. Here are a few steps on how to start saving for retirement now.
1) Meet with a financial planner- They can help you examine your current finances including college debt and help you establish and plan long term goal for retirement, planning a family, traveling or even going to graduate school. You can find a planner near you at PlannerSearch.org*
2) Start saving for retirement now- Even if you can only save $5 a week, give some thought to investing in an IRA and make a plan on how to contribute to it regularly. And when you qualify for an employer 401(k) plan, try to contribute the maximum allowed, especially if your employer matches it.
3) Buy used- There are some times where spending more for high quality make sense, such as a good suit for job interviews. But why spend a ton of money to furnish an apartment when you can scour yard sales and thrift stores?
4) Create a budget- Make it a habit to track your spending weekly, whether you use paper or go electronic, tracking your budget is crucial.
5) Start and emergency fund- Have enough money saved to cover up to 6 months of basic living needs. You can start small by cutting back on your daily coffee trips and put the money in an interest-bearing account.
6) Get tax help- If your finances are simple you might be able to do this on your own. But as they get more complicated it’s a good idea to get help from a tax professional. They know how to spot ways you can save money.
7) Check your credit report- You can receive a free credit report from three main credit reporting agencies once a year to check for inaccuracies and I.D. theft. Don’t order all three reports at one time though, stagger them throughout the year to catch and problems.
8) Get insurance- Good news if your employer doesn’t cover your for health insurance, under the new federal health care reform law you can stay on your parent’s health insurance until age 26. But don’t forget about auto, rental insurance and disability insurance.
9) Check your investments- Meeting with a financial planner can help you examine your investment choices and make sure they still meet your goals.
10) Do your homework- Do you research on the economy, investments and savings options.
-Jess H., Maine Credit Union League
The College Board estimated that one third of students graduating with a bachelors degree have college debt exceeding $20,000. But time is on their side, the average 22 year old graduate has 43 years before retiring at age 65, 48 years if they work until age 70. Here are a few steps on how to start saving for retirement now.
1) Meet with a financial planner- They can help you examine your current finances including college debt and help you establish and plan long term goal for retirement, planning a family, traveling or even going to graduate school. You can find a planner near you at PlannerSearch.org*
2) Start saving for retirement now- Even if you can only save $5 a week, give some thought to investing in an IRA and make a plan on how to contribute to it regularly. And when you qualify for an employer 401(k) plan, try to contribute the maximum allowed, especially if your employer matches it.
3) Buy used- There are some times where spending more for high quality make sense, such as a good suit for job interviews. But why spend a ton of money to furnish an apartment when you can scour yard sales and thrift stores?
4) Create a budget- Make it a habit to track your spending weekly, whether you use paper or go electronic, tracking your budget is crucial.
5) Start and emergency fund- Have enough money saved to cover up to 6 months of basic living needs. You can start small by cutting back on your daily coffee trips and put the money in an interest-bearing account.
6) Get tax help- If your finances are simple you might be able to do this on your own. But as they get more complicated it’s a good idea to get help from a tax professional. They know how to spot ways you can save money.
7) Check your credit report- You can receive a free credit report from three main credit reporting agencies once a year to check for inaccuracies and I.D. theft. Don’t order all three reports at one time though, stagger them throughout the year to catch and problems.
8) Get insurance- Good news if your employer doesn’t cover your for health insurance, under the new federal health care reform law you can stay on your parent’s health insurance until age 26. But don’t forget about auto, rental insurance and disability insurance.
9) Check your investments- Meeting with a financial planner can help you examine your investment choices and make sure they still meet your goals.
10) Do your homework- Do you research on the economy, investments and savings options.
-Jess H., Maine Credit Union League
Wednesday, May 12, 2010
Are wedding bells in your future? Don’t forget to factor in finances!
June is traditionally the month of weddings. And in Maine, where there is only a short window of time when one could comfortably wear a wedding dress without needing a parka and snow boots, this is especially true! No matter when you decide to tie the knot, one thing is for sure- your “perfect day” doesn’t come for cheap! The Association for Wedding Professionals International estimates that the average wedding costs between $21,000 and $24,000. While it’s easy to get caught up in the endless details of choosing flowers, food, cake, shoes invitations…Don’t forget the big picture- nothing goes by as fast as your own wedding, and when it’s over, you will want to be happily married- not unhappily in debt.
You can cut back on some of the stress that comes with planning a wedding by starting you plans far before the big day. That will give you time to search out the best buys for your money, as well as to save up for it. You can start by opening a Club Account at a credit union- it’s an easy way to put money away, without feeling like you are making a huge sacrifice. And, while your busy planning your future with your spouse to be; don’t neglect to discuss your financial future as well. Whether you plan on keeping your finances separate or want to combine your assets, why not take the opportunity to start another lifelong relationship- with a credit union!
-Diana D., Maine Credit Union League
You can cut back on some of the stress that comes with planning a wedding by starting you plans far before the big day. That will give you time to search out the best buys for your money, as well as to save up for it. You can start by opening a Club Account at a credit union- it’s an easy way to put money away, without feeling like you are making a huge sacrifice. And, while your busy planning your future with your spouse to be; don’t neglect to discuss your financial future as well. Whether you plan on keeping your finances separate or want to combine your assets, why not take the opportunity to start another lifelong relationship- with a credit union!
-Diana D., Maine Credit Union League
Wednesday, May 5, 2010
What do pets and credit unions have in common? The link is loyalty!
Loyal, reliable, and furry. If you have a dog, you know that in that lovable package, you have a best friend who is always there when you need them. The same (minus the furry part) can be said of credit unions. More than being a safe and secure place for your money, credit unions are always there to help in times of need, from providing financial advice, to offering smaller loans to help you through difficult times.
Another way that your pet and finances are connected is that whether their needs are basic or they are treated like the king of the castle, pets cost money! Make sure to factor your pet’s expenses into your budget. Depending on the size (or appetite) of your dog, food costs can range from $250-700 per year! In addition, most dogs do not live on kibble alone- I know I wouldn’t want to have to explain a treat shortage to my dog Charlie! If vet bills are a concern, many credit unions offer Pet Insurance, making dealing those expenses more manageable.
So today, why not take a couple minutes to brighten your day? Give your pet a hug, and look into joining a credit union!
-Diana D., Maine Credit Union League
Another way that your pet and finances are connected is that whether their needs are basic or they are treated like the king of the castle, pets cost money! Make sure to factor your pet’s expenses into your budget. Depending on the size (or appetite) of your dog, food costs can range from $250-700 per year! In addition, most dogs do not live on kibble alone- I know I wouldn’t want to have to explain a treat shortage to my dog Charlie! If vet bills are a concern, many credit unions offer Pet Insurance, making dealing those expenses more manageable.
So today, why not take a couple minutes to brighten your day? Give your pet a hug, and look into joining a credit union!
-Diana D., Maine Credit Union League
Thursday, April 29, 2010
Credit Unions are Experts in Lending…a Hand!
For Maine CUs, the credit union philosophy of ‘People Helping People’ extends far beyond offering lower rates, fewer fees, and the non-profit structure that makes credit unions unique. Credit union employees are out in their communities making a difference each day. These efforts were recently highlighted during National Volunteer Week (April 18-24), when the Maine Credit Union movement's unique volunteer program called Credit Unions Share for ME released the final results of volunteer efforts by Maine's credit unions in 2009, and the amount of hours credit unions spent volunteering in their community. A grand total of 23,945.5 volunteer hours were documented by credit union staff and directors from January 1-December 31, 2009, the second highest mark in the program's history!
If 23,945.5 hours can be accumulated just from Maine CU employees, think how many could be racked up if we all pitched in. With warm weather (minus recent hail and flurries!) finally here, there’s no reason not to get out there and get helping! Need some motivation? You can find a volunteer opportunity that meets your interest, availability and location at www.volunteermaine.org. Happy Volunteering!
Diana D., Maine Credit Union League
If 23,945.5 hours can be accumulated just from Maine CU employees, think how many could be racked up if we all pitched in. With warm weather (minus recent hail and flurries!) finally here, there’s no reason not to get out there and get helping! Need some motivation? You can find a volunteer opportunity that meets your interest, availability and location at www.volunteermaine.org. Happy Volunteering!
Diana D., Maine Credit Union League
Thursday, April 22, 2010
Get a Glimpse of a Real Financial Fitness Experience!
Thanks to Maine’s credit unions, high school students from across the state are getting the opportunity to get a glimpse of what it means to make decisions about their financial future, without the consequences! This is the idea behind the regional Financial Fitness Fairs hosted by Maine’s credit unions each year.
The Financial Fitness Money Management Experience is a half-day event during which students receive a scenario packet of their life at age 22, which includes their occupations, income and credit history. From there, students map out their financial future from financing their housing to purchasing food and clothing. They also experience the consequences that come from having a high or low credit score, a great advantage compared to the many who only realize what a credit score is when they are declined for a loan! Not only does this dose of reality give students an incentive to start preparing for their future today, it also gives them a greater appreciation for the challenges their parents are faced with each day.
To find out more about how Maine’s Credit Unions can help you gain a better understanding of your finances, or for more information about Financial Fitness Fairs, click here.
-Diana D., Maine Credit Union League
The Financial Fitness Money Management Experience is a half-day event during which students receive a scenario packet of their life at age 22, which includes their occupations, income and credit history. From there, students map out their financial future from financing their housing to purchasing food and clothing. They also experience the consequences that come from having a high or low credit score, a great advantage compared to the many who only realize what a credit score is when they are declined for a loan! Not only does this dose of reality give students an incentive to start preparing for their future today, it also gives them a greater appreciation for the challenges their parents are faced with each day.
To find out more about how Maine’s Credit Unions can help you gain a better understanding of your finances, or for more information about Financial Fitness Fairs, click here.
-Diana D., Maine Credit Union League
Friday, April 16, 2010
It’s Time for Spring Cleaning!
Tired of washing windows? Why not take a break from housework, and tackle a spring cleaning project that could really use your attention- your finances! Whether it is as simple as balancing your checkbook, or as daunting as paying off that credit card, the relief that comes with not having to stress about money can feel even more satisfying than a clean closet.
Or, why not simplify your life by moving your money, from your savings account to your car loan, to a credit union? Not only will you save time by only having to deal with one financial institution, you can also save money, as credit unions are known for their great rates and fewer fees.
If your financial situation is messier than your sock drawer, a credit union is also a great place to start. They can give you guidance on how to take control of your finances, and will work with you to help you get back on your feet.
The Maine Credit Union League also has a variety of resources for both youth and adults, with links to organizations that can help, where to go to check your credit score, activities to promote financial literacy at a young age, and more! Click here to find out more.
-Diana D., Maine Credit Union League
Or, why not simplify your life by moving your money, from your savings account to your car loan, to a credit union? Not only will you save time by only having to deal with one financial institution, you can also save money, as credit unions are known for their great rates and fewer fees.
If your financial situation is messier than your sock drawer, a credit union is also a great place to start. They can give you guidance on how to take control of your finances, and will work with you to help you get back on your feet.
The Maine Credit Union League also has a variety of resources for both youth and adults, with links to organizations that can help, where to go to check your credit score, activities to promote financial literacy at a young age, and more! Click here to find out more.
-Diana D., Maine Credit Union League
Monday, April 12, 2010
One CU Member Has $500 More to Share as Our Share It! Winner
Congratulations to P.W. of Augusta, the winner of our Share It Competition! She has won $500 to share with a friend or charity! Her story shares how by using Shared Branching, she was able to share with someone in need:
"I, like many other hard working citizens, found myself in a rather precarious financial situation. A member of my church encountered an emergency situation that needed immediate attention. The person affected did not have the funds to take care of the emergency. A number of folks were rallying together to assist this person. I desperately wanted to help, but did not have the funds right at that moment. I shared this with my sister, and she understood that I desperately wanted to help, and wanted to help me. We brainstormed the different ways that $$ could be shifted from her to me, so that I could help. All of the brainstorming ideas failed to make funds immediately available.
Then, suddenly, she said, "Wait -do you use a credit union?" I replied that I did. She said that she remembered seeing something about Shared Branching at her credit union. She did some quick research and sure enough, her credit union and mine both had Shared Branching. She immediately went to her credit union and made arrangements to have $$ transferred from her credit union account to mine. The funds were available almost immediately. I went to my credit union, withdrew the funds and passed them along to the person who was overseeing the effort to assist the person in need.
Without Shared Branching, I wouldn't have been able to help another person. Shared Branching helped a person, help a person, to help a person. What a wonderful thing!”
We received many great examples that showcase what Sharing Branching is all about- making life better for Maine people as they share time, money, or simply the convenience of Shared Branching.
Congratulations also go out to our Second Place winners: N.R. of Topsham, N.L. of Great Pond, and E.D. of Presque Isle, who will each receive a GPS System!
"I, like many other hard working citizens, found myself in a rather precarious financial situation. A member of my church encountered an emergency situation that needed immediate attention. The person affected did not have the funds to take care of the emergency. A number of folks were rallying together to assist this person. I desperately wanted to help, but did not have the funds right at that moment. I shared this with my sister, and she understood that I desperately wanted to help, and wanted to help me. We brainstormed the different ways that $$ could be shifted from her to me, so that I could help. All of the brainstorming ideas failed to make funds immediately available.
Then, suddenly, she said, "Wait -do you use a credit union?" I replied that I did. She said that she remembered seeing something about Shared Branching at her credit union. She did some quick research and sure enough, her credit union and mine both had Shared Branching. She immediately went to her credit union and made arrangements to have $$ transferred from her credit union account to mine. The funds were available almost immediately. I went to my credit union, withdrew the funds and passed them along to the person who was overseeing the effort to assist the person in need.
Without Shared Branching, I wouldn't have been able to help another person. Shared Branching helped a person, help a person, to help a person. What a wonderful thing!”
We received many great examples that showcase what Sharing Branching is all about- making life better for Maine people as they share time, money, or simply the convenience of Shared Branching.
Congratulations also go out to our Second Place winners: N.R. of Topsham, N.L. of Great Pond, and E.D. of Presque Isle, who will each receive a GPS System!
Friday, March 26, 2010
What's More in Maine? Sharing!
As our Share It Competition comes to an end on March 31, we’d like to share a couple more entries that demonstrate the sharing spirit of Maine’s Credit Unions:
My favorite sharing moment occurred on a day in August when my two sons received prize money for their art entries at the fair. My youngest son received $12 and my older son received $10. Without thinking, my youngest son handed his older brother a dollar and said "now we have the same amount". This type of gesture, from either boy, is not rare. As their mother, it certainly warms my heart.
-B.P., Bowdoinham
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My favorite Shared Branching moment was just last week when I was preparing to take my son skiing for the day on Friday. I was at home packing all the gear skis, boots, poles, snacks, camera, cash....oops! We all know skiing costs money. Big Money! It was already too late to go to a local branch and we were planning to leave at 6:30 AM. That's too early for my credit union’s hours. Then I remembered shared branching. Looked up the list and found a CU in South Paris. I was able to leave on time, make a stop to visit my Mom in Norway and hit the credit union for the cash need for our day on the slopes. If not for Shared Branching I would have been buying half day tickets and given my son a half day of fun!
Thanks Maine Credit Unions, for being consumer owned and oriented!
-S.T., Saco
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There’s still time to share! Click here for more information, and to submit your entry by March 31. We’ll announce the winner online on April 2.
-Diana D., Maine Credit Union League
My favorite sharing moment occurred on a day in August when my two sons received prize money for their art entries at the fair. My youngest son received $12 and my older son received $10. Without thinking, my youngest son handed his older brother a dollar and said "now we have the same amount". This type of gesture, from either boy, is not rare. As their mother, it certainly warms my heart.
-B.P., Bowdoinham
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My favorite Shared Branching moment was just last week when I was preparing to take my son skiing for the day on Friday. I was at home packing all the gear skis, boots, poles, snacks, camera, cash....oops! We all know skiing costs money. Big Money! It was already too late to go to a local branch and we were planning to leave at 6:30 AM. That's too early for my credit union’s hours. Then I remembered shared branching. Looked up the list and found a CU in South Paris. I was able to leave on time, make a stop to visit my Mom in Norway and hit the credit union for the cash need for our day on the slopes. If not for Shared Branching I would have been buying half day tickets and given my son a half day of fun!
Thanks Maine Credit Unions, for being consumer owned and oriented!
-S.T., Saco
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There’s still time to share! Click here for more information, and to submit your entry by March 31. We’ll announce the winner online on April 2.
-Diana D., Maine Credit Union League
Tuesday, March 16, 2010
Credit Union Contest Highlights Convenience of Shared Branching
To kick off the new Shared Branching Campaign, Share It! we asked credit unions to create their own “Top 10 List” on why to use Shared Branching. Here are some excerpts from these entries that feature some the best reasons to use Shared Branching!
“A member came to me because his son, who is at school in Utah, lost his debit card. Rather than wait several days for a new debit card to access his money, I gave his dad a list of our shared branch locations in the city where his son goes to school. The dad called his son from my office and gave him the list. Within an hour, the son had accessed his account at a shared branch location. Both dad and son were thrilled.”
“While visiting your brother out of town, he tells you that he would be happy to pay you the $5,000.00 that he borrowed from you, only he doesn’t want you traveling with that much cash. You surprise him with a shared branch location right down the street. He no longer has an excuse not to repay you.”
“Wiring or mailing funds can be costly and unsafe. Funds can get lost in the mail, the price of postage always on the rise, and wire transfers have fees. You can conduct these transactions with Shared Branching instead!”
“Shared Branching exhibits the Cooperative Spirit of Credit Unions. We work with each other- not against each other!”
“Shared Branching saves gas for everyone. Instead of traveling out of one’s way, they can do business locally.”
“I had members call from out west, all in a panic because their debit card wouldn’t work and they needed cash. I looked up Shared Branching locations, gave them their account number and routing and transit number. They were so relieved and grateful we could help them from this far away.”
How will Shared Branching make your life easier? Click here and find a branch near you!
-Diana D., Maine Credit Union League
“A member came to me because his son, who is at school in Utah, lost his debit card. Rather than wait several days for a new debit card to access his money, I gave his dad a list of our shared branch locations in the city where his son goes to school. The dad called his son from my office and gave him the list. Within an hour, the son had accessed his account at a shared branch location. Both dad and son were thrilled.”
“While visiting your brother out of town, he tells you that he would be happy to pay you the $5,000.00 that he borrowed from you, only he doesn’t want you traveling with that much cash. You surprise him with a shared branch location right down the street. He no longer has an excuse not to repay you.”
“Wiring or mailing funds can be costly and unsafe. Funds can get lost in the mail, the price of postage always on the rise, and wire transfers have fees. You can conduct these transactions with Shared Branching instead!”
“Shared Branching exhibits the Cooperative Spirit of Credit Unions. We work with each other- not against each other!”
“Shared Branching saves gas for everyone. Instead of traveling out of one’s way, they can do business locally.”
“I had members call from out west, all in a panic because their debit card wouldn’t work and they needed cash. I looked up Shared Branching locations, gave them their account number and routing and transit number. They were so relieved and grateful we could help them from this far away.”
How will Shared Branching make your life easier? Click here and find a branch near you!
-Diana D., Maine Credit Union League
Monday, March 1, 2010
Shared Branching simplified one members trip
Here is the latest entry for the Share It contest. One member learned about Shared Branching when she was going to help her son.
I am a member of two credit unions. This past January I had to be in Idaho for most of the month as my son, who lives there, was having major heart surgery. When I was at my credit union getting some traveling money I made a comment about my trip and the teller asked where I would be in Idaho. She looked it up and told me there were two credit unions with Shared Branching that I could go to there, and she printed out the addresses for both for me. That made my stay in Idaho so much easier. I am so thankful for credit unions and their wonderful helpful staff. I did go to a credit union in Idaho, and they were just as friendly and helpful as they are here.
Thank you for Shared Branching!
G.P., Readfield
Learn more about Shared Branching if you are going to be traveling.
Jess H., Maine Credit Union League
I am a member of two credit unions. This past January I had to be in Idaho for most of the month as my son, who lives there, was having major heart surgery. When I was at my credit union getting some traveling money I made a comment about my trip and the teller asked where I would be in Idaho. She looked it up and told me there were two credit unions with Shared Branching that I could go to there, and she printed out the addresses for both for me. That made my stay in Idaho so much easier. I am so thankful for credit unions and their wonderful helpful staff. I did go to a credit union in Idaho, and they were just as friendly and helpful as they are here.
Thank you for Shared Branching!
G.P., Readfield
Learn more about Shared Branching if you are going to be traveling.
Jess H., Maine Credit Union League
Thursday, February 25, 2010
Shared Branching is a happy surprise for one longtime CU member
This credit union member’s entry in our Share It Contest shares how she discovered the convenience of Shared Branching:
“I have been a member of my credit union for many years, maintaining my account despite attending college in another state, moving to another state for several years, and now settling in Maine for the past 3 1/2 years. Several weeks ago I stopped in to a credit union to ask about being able to use my CU debit card at their ATM without being charged the dreaded ATM fee. I was all too delighted with the outcome of my inquiry. I mentioned to the teller that I was a member of a CU in the state I'd grown up in; she confirmed the CU was on the Shared Branching network, asked for my ID and account number, then asked how much I wanted to withdraw. It took me a moment to register, but I happily walked out the door with cash in hand and no ATM fee charged to my debit card.
I'm so pleased that credit unions are working together to make using credit unions - no matter where they are located - just a little easier for their members! THANK YOU!”
-M.L., Vinalhaven
Spread the word about Shared Branching with your friends, and save them from unnecessary fees!
-Diana D., Maine Credit Union League
“I have been a member of my credit union for many years, maintaining my account despite attending college in another state, moving to another state for several years, and now settling in Maine for the past 3 1/2 years. Several weeks ago I stopped in to a credit union to ask about being able to use my CU debit card at their ATM without being charged the dreaded ATM fee. I was all too delighted with the outcome of my inquiry. I mentioned to the teller that I was a member of a CU in the state I'd grown up in; she confirmed the CU was on the Shared Branching network, asked for my ID and account number, then asked how much I wanted to withdraw. It took me a moment to register, but I happily walked out the door with cash in hand and no ATM fee charged to my debit card.
I'm so pleased that credit unions are working together to make using credit unions - no matter where they are located - just a little easier for their members! THANK YOU!”
-M.L., Vinalhaven
Spread the word about Shared Branching with your friends, and save them from unnecessary fees!
-Diana D., Maine Credit Union League
Thursday, February 11, 2010
Shared Branching helped one member help a person in need
Mainers love to share, and credit unions are here to help. Here is one members story on how using Shared Branching helped them help someone in need.
“I, like many other hard working citizens, found myself in a rather precarious financial situation. A member of my church encountered an emergency situation that needed immediate attention. The person affected did not have the funds to take care of the emergency. A number of folks were rallying together to assist this person. I desperately wanted to help, but did not have the funds right at that moment. I shared this with my sister, and she understood that I desperately wanted to help, and wanted to help me. We brainstormed the different ways that $$ could be shifted from her to me, so that I could help. All of the brainstorming ideas failed to make funds immediately available. Then, suddenly, she said; “wait…do you use a credit union”? I replied that I did. She said that she remembered seeing something about Shared Branching at her credit union. She did some quick research and sure enough, her credit union and mine both had Shared Branching. She immediately went to her credit union and made arrangements to have $$ transferred from her credit union account to mine. The funds were available almost immediately. I went to my credit union, withdrew the funds and passed them along to the person who was overseeing the effort to assist the person in need.
Without Shared Branching, I wouldn’t have been able to help another person. Shared Branching helped a person, help a person, to help a person. What a wonderful thing!”
- P.W., Augusta
So whether you need money immediately because of an emergency, or just to make a loan payment when you're out of town, Shared Branching is here to make your life a little simpler.
-Jess H., Maine Credit Union League
“I, like many other hard working citizens, found myself in a rather precarious financial situation. A member of my church encountered an emergency situation that needed immediate attention. The person affected did not have the funds to take care of the emergency. A number of folks were rallying together to assist this person. I desperately wanted to help, but did not have the funds right at that moment. I shared this with my sister, and she understood that I desperately wanted to help, and wanted to help me. We brainstormed the different ways that $$ could be shifted from her to me, so that I could help. All of the brainstorming ideas failed to make funds immediately available. Then, suddenly, she said; “wait…do you use a credit union”? I replied that I did. She said that she remembered seeing something about Shared Branching at her credit union. She did some quick research and sure enough, her credit union and mine both had Shared Branching. She immediately went to her credit union and made arrangements to have $$ transferred from her credit union account to mine. The funds were available almost immediately. I went to my credit union, withdrew the funds and passed them along to the person who was overseeing the effort to assist the person in need.
Without Shared Branching, I wouldn’t have been able to help another person. Shared Branching helped a person, help a person, to help a person. What a wonderful thing!”
- P.W., Augusta
So whether you need money immediately because of an emergency, or just to make a loan payment when you're out of town, Shared Branching is here to make your life a little simpler.
-Jess H., Maine Credit Union League
Monday, February 8, 2010
Shared Branching saves one members weekend
We know that Mainers love to share, and as part of out Share It campaign we are asking you to tell us what you love to share. Here is one members story:
Shared Branching Saves the Day!
“One month ago I was traveling down to Boston to see my brother and my vehicle broke down in southern Maine on New Year’s weekend. The company who came to get my car needed cash for payment and I didn't have any cash on me. I was not sure how I was going to be able to get cash and without a fee at a big bank. The other hold up was that I didn't have much money in my checking account for my debit card to work. I don't have access to my savings account by debit card or ATM card so I was stuck.
I then thought about the Shared Branching. I had been given a paper with all the branches in Maine who participate in SB by the associate at NorState FCU in Presque Isle when I opened my account. I looked on there and found there was a credit union nearby. I then proceeded to plug this credit union name into my cell phone where I got the address. I went inside late on a snowy day when they were just about to close and I took the money out of my own CU savings account.
The days that followed made me really pat myself on the back for switching from another local bank to a credit union. I feel as though I'm part of a little family, but yet with the ability to have access no matter where my travels take me. I'm very glad to be part of Shared Branching and I'm glad I'm a member of two Maine Credit Unions.”
- E.D, Presque Isle
-Jess H., Maine Credit Union League
Shared Branching Saves the Day!
“One month ago I was traveling down to Boston to see my brother and my vehicle broke down in southern Maine on New Year’s weekend. The company who came to get my car needed cash for payment and I didn't have any cash on me. I was not sure how I was going to be able to get cash and without a fee at a big bank. The other hold up was that I didn't have much money in my checking account for my debit card to work. I don't have access to my savings account by debit card or ATM card so I was stuck.
I then thought about the Shared Branching. I had been given a paper with all the branches in Maine who participate in SB by the associate at NorState FCU in Presque Isle when I opened my account. I looked on there and found there was a credit union nearby. I then proceeded to plug this credit union name into my cell phone where I got the address. I went inside late on a snowy day when they were just about to close and I took the money out of my own CU savings account.
The days that followed made me really pat myself on the back for switching from another local bank to a credit union. I feel as though I'm part of a little family, but yet with the ability to have access no matter where my travels take me. I'm very glad to be part of Shared Branching and I'm glad I'm a member of two Maine Credit Unions.”
- E.D, Presque Isle
-Jess H., Maine Credit Union League
Monday, February 1, 2010
Say “Hello” to SURF Dude, and “Goodbye” to ATM Fees!
It’s out with the old and in with the new… look that is, the surcharge free ATM network that you know and rely on has a new look. As a credit union member, you have access to over 200 surcharge free ATMs throughout Maine, using these ATMs can save you an average of $300 a year in surcharge fees alone. Who would want to pass up a deal like that? Have you ever been out and needed to use an ATM, but don’t know what ones are on the SURF network. Just look for SURF Dude or visit gosurf.mobi on your smart phone.
If you see SURF Dude on your ATM then you know that you’re in the SURF Zone – and that means no ATM fees! The SURF ATM Network now includes over 90% of the state’s 67 credit unions, so you are never far from a SURF Zone. So next time you are out and need to access an ATM, whether you’re taking out cash or making a deposit, look for SURF Dude and keep your money where it belongs... with you!
-Jess H., Maine Credit Union League
Tuesday, January 26, 2010
Want to make your life easier? Join a credit union!
As a credit union employee, I sometimes take for granted the multiple ways I can manage my account. I’m often reminded of this when I’m talking to friends and family and explaining our products and services to them. The response I hear most is “Wow, that’s so cool, I didn’t know I could do that with my credit union account!”
A classic example of this happened between my husband and I recently. He opened an account for his weekly spending money that he was going to manage and keep track of. When he asked how he could do that, I was more than a little surprised! I spend all day promoting our products and services to our members and making them aware of everything we offer, and here my own husband didn’t realize all the ways he could manage his account without coming into a branch. (In my defense, he usually doesn’t realize when the laundry needs to be done either, and I know I’ve made him aware of that before!) I wondered though how many credit union members out there don’t realize the gold mine of financial resources a credit union offers that can make their everyday life easier!
As a member of a credit union, you may think that you have to sacrifice a certain level of technology or convenience to receive the outstanding level of service and money-saving products that you enjoy. Not true! I bet most members don’t realize that they’re credit union offers all of the same sophisticated technology that big banks do – and we know your name when you visit a branch! Mobile Banking? Check. Text or E-mail notifications on your account? Check. Online Banking? Check. Electronic Bill Pay? Check. Online account opening? Check. Online loan and mortgage applications? Check! The list goes on and on!
And talk about convenience – with the credit union shared branching network you have over 4,000 branches nationwide that you can use like you would your own credit union! Not to mention the over 200 ATMs across the state that you can use with no fee! Because credit unions are financial cooperatives, we work together to deliver our members the same level of convenience and access to their accounts that you can find at a big bank.
So needless to say, when I told my husband that he could keep tabs on his account right on his cell phone through mobile banking, he was pretty excited. Then when I said that he didn’t have to go across town if he needed to make a deposit, he could go to the credit union next door to his work he was even more excited! Not only because he didn’t have to give me all those pesky receipts anymore, but also because he knew this would make his life a lot easier!
- Kim S., University Credit Union
A classic example of this happened between my husband and I recently. He opened an account for his weekly spending money that he was going to manage and keep track of. When he asked how he could do that, I was more than a little surprised! I spend all day promoting our products and services to our members and making them aware of everything we offer, and here my own husband didn’t realize all the ways he could manage his account without coming into a branch. (In my defense, he usually doesn’t realize when the laundry needs to be done either, and I know I’ve made him aware of that before!) I wondered though how many credit union members out there don’t realize the gold mine of financial resources a credit union offers that can make their everyday life easier!
As a member of a credit union, you may think that you have to sacrifice a certain level of technology or convenience to receive the outstanding level of service and money-saving products that you enjoy. Not true! I bet most members don’t realize that they’re credit union offers all of the same sophisticated technology that big banks do – and we know your name when you visit a branch! Mobile Banking? Check. Text or E-mail notifications on your account? Check. Online Banking? Check. Electronic Bill Pay? Check. Online account opening? Check. Online loan and mortgage applications? Check! The list goes on and on!
And talk about convenience – with the credit union shared branching network you have over 4,000 branches nationwide that you can use like you would your own credit union! Not to mention the over 200 ATMs across the state that you can use with no fee! Because credit unions are financial cooperatives, we work together to deliver our members the same level of convenience and access to their accounts that you can find at a big bank.
So needless to say, when I told my husband that he could keep tabs on his account right on his cell phone through mobile banking, he was pretty excited. Then when I said that he didn’t have to go across town if he needed to make a deposit, he could go to the credit union next door to his work he was even more excited! Not only because he didn’t have to give me all those pesky receipts anymore, but also because he knew this would make his life a lot easier!
- Kim S., University Credit Union
Thursday, January 21, 2010
Maine CUs do more to help those who need it most
With the heartbreaking images of the devastation that a 7.0 earthquake recently brought to Haiti constantly on television, online and in the newspapers, people everywhere are wishing that they could do more to help these victims.
In response to this disaster, Maine credit unions are not only taking action to help, they are making it easy for others to do so as well, with a statewide fundraising initiative called, 'Maine People Helping People Across The Earth - A Fund For Haiti'. In conjunction with the National Credit Union Foundation (NCUF), Maine's credit unions have activated a safe and secure web site to raise money for credit union employees, volunteers and members in Haiti. In addition to online contributions, a number of credit unions have set-up donation canisters in their lobbies to collect funds for this important cause.
Visit your local credit union to find out more about this effort, or the many other ways they are helping those in need, across your community and across the world. Or, to make a safe and secure donation to the Haiti fundraising effort, visit www.cuaid.coop/maine and click on the Donate Now link.
-Diana D., Maine Credit Union League
In response to this disaster, Maine credit unions are not only taking action to help, they are making it easy for others to do so as well, with a statewide fundraising initiative called, 'Maine People Helping People Across The Earth - A Fund For Haiti'. In conjunction with the National Credit Union Foundation (NCUF), Maine's credit unions have activated a safe and secure web site to raise money for credit union employees, volunteers and members in Haiti. In addition to online contributions, a number of credit unions have set-up donation canisters in their lobbies to collect funds for this important cause.
Visit your local credit union to find out more about this effort, or the many other ways they are helping those in need, across your community and across the world. Or, to make a safe and secure donation to the Haiti fundraising effort, visit www.cuaid.coop/maine and click on the Donate Now link.
-Diana D., Maine Credit Union League
Tuesday, January 19, 2010
Financial Literacy is a Lifelong Lesson
No matter what your age, take advantage of the New Year and get on the path to financial fitness with your Maine Credit Unions! They are here for you all year round!
Baby boomers
Put your debts in priority order. Make a list of all your liabilities and organize them by the annual interest rate. Pay off those with the highest rates first, while still making at least minimum payments on all the others. Set a specific, realistic date for when you plan to achieve your goal of paying off all debts.
Determine your net worth. Calculate your assets minus liabilities each year--preferably on Dec. 31--so you quickly can see whether you're gaining ground or falling behind. Your net worth should be increasing each year. If it's not, make a plan to improve it, such as pay down a specific debt or put more money into a retirement account.
Seniors
Evaluate your estate plan. Establish or review your will, advance directives, and powers of attorney, and make sure they reflect your preferences and current situation. Make sure all of your intended beneficiaries are on file for all your financial accounts.
Check all insurance policies. For example, know what is covered in your home-owners policy and verify your liability coverage. Call your insurance agent if you have any questions. Many credit unions have relationships with area insurance companies for your convenience.
- Adam M., Maine Family FCU
Baby boomers
Put your debts in priority order. Make a list of all your liabilities and organize them by the annual interest rate. Pay off those with the highest rates first, while still making at least minimum payments on all the others. Set a specific, realistic date for when you plan to achieve your goal of paying off all debts.
Determine your net worth. Calculate your assets minus liabilities each year--preferably on Dec. 31--so you quickly can see whether you're gaining ground or falling behind. Your net worth should be increasing each year. If it's not, make a plan to improve it, such as pay down a specific debt or put more money into a retirement account.
Seniors
Evaluate your estate plan. Establish or review your will, advance directives, and powers of attorney, and make sure they reflect your preferences and current situation. Make sure all of your intended beneficiaries are on file for all your financial accounts.
Check all insurance policies. For example, know what is covered in your home-owners policy and verify your liability coverage. Call your insurance agent if you have any questions. Many credit unions have relationships with area insurance companies for your convenience.
- Adam M., Maine Family FCU
Monday, January 11, 2010
Make Smart New Year's Resolutions
Everyone--regardless of age--can take steps to shape up their finances in this new year/decade.
As you decide on your New Year's resolutions (or perhaps you already have them decided), think SMART--financial goals that are specific, measurable, adjustable, realistic, and time-oriented. Your individual Credit Union staff's are here to help with any questions you might have!
Here are some examples of financial goals for the younger generation:
Youth
Collect your change. Each time you buy something, save the change you get back. Deposit the change in a container at the end of every day. Over time it could add up to a significant amount of money.
Save your allowance. Whether you want to buy something you've been eyeing for months or you want to start saving for college, the only way you are going to do it is by putting your allowance away. Deposit at least part of your allowance in a share savings account at the credit union with the many youth savings accounts available.
Gen Y
Open a Roth IRA (individual retirement account) and start saving. Make savings a habit and invest at least 10% of every paycheck for retirement. The longer you have to save with a Roth IRA, the more you save on taxes. Although contributions aren't tax-deductible, your money grows tax-free and comes out tax-free as long as you meet certain requirements.
Put your credit card away. Use credit cards only when you know you have the funds set aside to pay the bill in full when the bill comes. Try not to leave a balance on your credit card or you'll be charged interest.
-Adam M., Maine Family FCU
As you decide on your New Year's resolutions (or perhaps you already have them decided), think SMART--financial goals that are specific, measurable, adjustable, realistic, and time-oriented. Your individual Credit Union staff's are here to help with any questions you might have!
Here are some examples of financial goals for the younger generation:
Youth
Collect your change. Each time you buy something, save the change you get back. Deposit the change in a container at the end of every day. Over time it could add up to a significant amount of money.
Save your allowance. Whether you want to buy something you've been eyeing for months or you want to start saving for college, the only way you are going to do it is by putting your allowance away. Deposit at least part of your allowance in a share savings account at the credit union with the many youth savings accounts available.
Gen Y
Open a Roth IRA (individual retirement account) and start saving. Make savings a habit and invest at least 10% of every paycheck for retirement. The longer you have to save with a Roth IRA, the more you save on taxes. Although contributions aren't tax-deductible, your money grows tax-free and comes out tax-free as long as you meet certain requirements.
Put your credit card away. Use credit cards only when you know you have the funds set aside to pay the bill in full when the bill comes. Try not to leave a balance on your credit card or you'll be charged interest.
-Adam M., Maine Family FCU
Tuesday, January 5, 2010
There’s more to consider when traveling in 2010
It’s a new year and if your new year’s resolution was to take a vacation you may be planning where you want to go and when. Now is the time to start a vacation fund, and many credit unions have special club accounts to make saving easier. You can have money deposited into your club account automatically, or make deposits when you can, making planning your vacation a little less stressful.
And when you are planning your trip, whether it’s across the state or across the country, there are some travel tips you should keep in mind for 2010. If you are traveling by plane, arrive at the airport early, make sure you have all liquids and medication labeled and in a plastic bag, and keep your ID, airline ticket, boarding passes all in one folder and take all government issued photo ID certificates you can find, such as a drivers license and your passport.
If you are traveling by car, keep informed about the weather and road conditions during the time you will be traveling there, know where you are going by looking at a map or guide book before you leave your car or hotel, and don’t leave luggage or valuables in your car overnight.
-Jess H., Maine Credit Union League
And when you are planning your trip, whether it’s across the state or across the country, there are some travel tips you should keep in mind for 2010. If you are traveling by plane, arrive at the airport early, make sure you have all liquids and medication labeled and in a plastic bag, and keep your ID, airline ticket, boarding passes all in one folder and take all government issued photo ID certificates you can find, such as a drivers license and your passport.
If you are traveling by car, keep informed about the weather and road conditions during the time you will be traveling there, know where you are going by looking at a map or guide book before you leave your car or hotel, and don’t leave luggage or valuables in your car overnight.
-Jess H., Maine Credit Union League
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