the LADDER CERTIFICATE!!

Okay guys. We are about to talk about something cool, but also a little bit complicated. Not sure if you have heard the news, but one of our premier investment products is called the “Ladder Certificate”.

What’s a "certificate" and why is it called a “ladder”? Let me break it down…

First, let me start off with the question - what is a CD? And no, I am not referring to those circular disks from the 90s we used to listen to music in a stereo. This type of CD is defined as a certificate of deposit. At credit unions, we call them “Share Certificates”. A CD is a product where you place your money in an account for a period of time (as little as 3 months or as long as maybe 5 years) while you earn a higher interest rate; typically more than your savings or checking accounts.  U.S. Eagle offers a product that most banks or credit unions don’t…ahem, drum roll please…the LADDER CERTIFICATE!

So, what is this infamous ladder certificate you ask? It is five CDs (share certificates) in one. The ladder consists of a one year, two year, three year, four year, and five year share certificates.  Each one of these certificates will earn the 5-year interest rate. When the 1-year CD matures, (meaning coming up for renewal) it will automatically turn into the 5-year CD, while the 2-year CD is now the 1-year (because you only have a year left for maturity), and the 3-year becomes the 2-year, and so on.

The unique thing about this ladder certificate is you can contribute to the CD whenever you have $1,000.00 or more to equally disperse amongst the CDs, (in this case, $1,000.00 will be split into all 5 of the CDs) all the while you still earn the interest rate of the 5-year CD. 

This sets the Ladder Certificate apart from other CDs because it allows you to make continuous equal deposits into each of the 5 CDs whenever you want as long as you do not break your ladder. If you do close out any of the CDs when they mature, you can no longer contribute to the remaining CDs.

So, save up some money and invest it. You'll make money on your money. Plus, you'll sound cool when you explain this investment to all your pals, "Yeah...just invested my money in a ladder certificate...oh you don't know what that is?"

 

Annual Meeting at U.S. Eagle!

Once you deposit $5 into your savings account at U.S. Eagle, you become a member-owner.  It’s the most unique benefit of being a member at U.S. Eagle, which is why we invite all members to our Annual Meeting. We want your voice to be heard.

Who attends an Annual Meeting? Other shareholders, but more importantly, local people in our community who have invested in the same financial institution and share the same goals for the future as you do.

 So, what goes on at an Annual Meeting and why should you attend? 

Status report of U.S. Eagle’s fiscal year
Learn about the current financial standing of U.S. Eagle. Key management officers will also discuss goals and initiatives for 2017.

Board of Directors elections
Members on the Board of Directors serve three year terms. Make your vote count if there's an election.

Open discussion with Board of Directors and  U.S. Eagle staff
Time for some Q & A!

Scholarship recipients announced
Three students will take home big giant checks valued at $2,000 towards school.

Giveaways!
Self-explanatory.

Social Hour
Enjoy delicious hors d’oeuvres and meet some fellow Eagles.

 

 

So, on Wednesday, May 4th at 6:30pm, make sure you're at The Event Center at Sandia Golf Club. We'll see you there!

Crashing the GAC!!

What does “Crashing the GAC” consist of? Over 30 sessions, meetings, and discussions; nearly 85,000 steps; and a 90+ hour work week…all in less than six days. I can now proudly say, I am a GAC Crasher Alum.

Although the list above may seem a bit daunting, Crashing the GAC has been an invaluable experience and one of the best opportunities of my professional career. Before I go on, let me explain what the GAC is. The Governmental Affairs Conference is an annual meeting in Washington D.C. of credit unions from around the nation designed to ignite the credit union movement. The GAC guest list includes top leaders at credit unions, associations and leagues, keynote speakers, and mainly just really important people who have worked hard to get where they are…cue 52 millennials in bright yellow shirts. That would be me, us, THE Crashers. Now, let’s review what exactly a “Crasher” is. A Crasher is a young person selected from each state to attend the GAC and shake things up. We are there to network, learn, and network.


Selfie with Rep. Ben Ray Lujan

Crashing the GAC was amazing. The main thing I took away from this experience is, understanding the credit union movement. I want to make a difference in my position and help people, now, I know even more ways to make that happen. I met so many passionate people at the GAC who were inspiring and on fire about the credit union movement. Credit Unions are more than just financial institutions. Credit Unions are places where people can go to financially succeed. Credit Unions are places that will, of course, hold your money, BUT they serve our members and have their best interest in mind. Credit Unions will sit down with members and have that tough conversation, but then do all we can to help you in the long run. Credit Unions are owned by its members. Credit Unions serve people.


I’m excited to make a difference and impact lives while representing my credit union every day. Being a part of a credit union means that I am an advocate for the credit union movement. I get to spread the news about how people can join a credit union. People need to know they can join and not feel nervous or burdened by their financial situation. People can expect a trusted relationship with the place that takes care of their money. People CAN improve their financial well-being, and, we will do our best to ensure we are there for them every step of the way.

Tax Refund Tips

It's the most wonderful time of the year! Tax Season is here! Let's fast forward to the fun stuff (hopefully). Your tax refund. How are you going to spend your tax refund? Will you tuck your money away for a rainy day? Or, will you buy that new iPad you’ve been eyeing? Before you make a decision, check out these tips from the Eagle!

1.       Emergency Fund

You never know what life is going to throw your way. When something unexpected does happen, make sure you're prepared. Make sure you have money tucked away to cover yourself should something unfortunate ensue. If you’ve been reading up on our blog posts, you know the recommended amount one should save is six months’ worth of expenses. Add up all your bills and multiply the total times six – there’s your goal. This is not an account that will accumulate overnight. This is a long term goal you can set for yourself, but adding a chunk of your tax return to this account definitely would not hurt!

2.       Pay Off Debt

Let me introduce you to what I call the "Debt Cloud". This lil' guy is your shadow when you have credit card debt. He's quiet, and just looms over your shoulder. Maybe the Debt Cloud is hangin’ out with you as we speak. How great does it feel when that cloud is gone? Seriously, can he just leave already? It’s a great feeling to no longer have to make a payment on a credit card. I know for me personally, it’s amazing to have the feeling of freedom from debt! The average American balances around $5,000 in credit card debt. No Bueno. Use your tax refund to pay off some debt. Get rid of the Debt Cloud that’s been your constant companion for the past year. Say “Goodbye” to those monthly payments, interest rates, and credit card balances that never seem to diminish.

3.       Add to Your Retirement Fund or Invest

It’s never too early to save for retirement. It’s never too late to save for…wait. It’s never a bad time to add to your retirement savings! If your current finances are in check, stash some money away for retirement. If you already put in enough money per paycheck into your 401(k) for your company to match, consider starting an IRA. An IRA allows you to have more control over your savings than a 401(k). The sooner you save; the better off you’ll be in the future. In addition to securing your future, consider investing your money in stocks or bonds. Choose to be risky and invest in stocks, or be conservative and invest in bonds. Another saving option is a designated college savings account. Earn a return on your savings by opening a Coverdell IRA and save for your kids or grandkids’ college education.  

4.       Maintenance, Repairs, and Home Additions

Tired of creaky wooden floors? Duct tape no longer working on those leaky pipes? If you’re anything like me…a swimming pool in the backyard will do. Okay, okay, maybe a little bit too extravagant. Take advantage of your tax refund and repair your house or manicure your yard. Save even more by becoming Mr. Fix-It for a day.  

5.       Save, Save, Save! 

If you have an emergency fund already set aside, consider saving for an upcoming large purchase you see in your near future. Maybe you can add some of the funds to your Holiday Account. You can never do wrong when you save your money.

6.       Fun?

Fun?! Did she just list “Fun”? Yes, yes I did. There is nothing wrong with spending your tax refund on a family vacation or that swimming pool you’ve been dreaming of for years because you love swimming and reading a good book near the pool while drinking some iced tea…oh, am I talking about me again? Sorry, got a little bit distracted. Anyways, as long as your savings are in order – have FUN with your tax reFUNd! See what I did there?

7.       Give to Others

You can never go wrong by using your tax refund for the greater good. Donate your funds to charities around town or use the money to help someone else in need. The return will never seem sweeter.

New Year's Financial Resolutions

It’s that time of year again - time to pencil down your New Year’s Resolutions. According to Statisticbrain.com, “Spending less and saving more” is in the top three New Year’s resolutions in 2015. We are here to help! Although New Year’s resolutions may seem cliché or redundant, they don’t have to be. Resolutions can be a great way to start off the year with a fresh goal in mind. U.S. Eagle has some ideas to help you accomplish your financial resolution – Spend Less, Save More!

The first thing on the list is to create a budget.  How many of our readers budget already? If not, that’s okay – it’s never too late to start! According to Balancepro.net, a  good rule of thumb is to balance your budget using the following breakdown: 35% housing, 15% debt, 15% transportation, 10% savings, 25% other. Check out your checking account and divvy up your expenses under these categories…it’s surprising how much money we can spend in one month on coffee or eating out. Identify where you overspend. You may overspend on something and not even notice. Keeping track of your transactions allows you to be conscious of every purchase and constantly aware of your balance.  Once you have created a budget, find ways to make sure you stick to it! Some suggestions we offer are: direct deposit, manually balancing your checkbook (not relying on online banking), and setting a goal amount to have in your savings account at the end of the year.

Another financial goal that will never go out of style is improving your credit score. Wallethub.com cites that “…the annual difference in cost between good and bad credit is roughly $650 in credit card payments, $1,400 on your auto loan and $2,300 on a mortgage.” That’s a lot of money you could be saving! Keep in mind that debt is not always a bad thing; in fact, it is necessary to build credit. One way to improve your credit score is to maintain a credit card responsibly. Use the credit card and make your payments on time or pay off the balance monthly. This will report positive information to credit bureaus each month. If you’re in trouble with your credit score, U.S. Eagle offers a Credit Builder Credit Card to help you get back on your feet!

Our third financial resolution is to build an emergency fund. Unexpected expenses happen and we need to be prepared for when that time comes. What’s a good amount to have in savings? Six months’ worth of expenses is a good starting point. Calculate how much money you spend every month on your mortgage or rent, car payments, insurances, gas, groceries, etc. and multiply this amount times six. Create your emergency fund based on that number. We encourage you to save a little more than six months’ worth of expenses, but this will take time.

Our fourth financial resolution recommendation is to utilize automated payments. Avoid missing those due dates by scheduling payments to come out of your account automatically. Missing a payment usually results in a late fee, damage to your credit score, and lastly, a phone call to the company asking for mercy for about thirty minutes. If you don’t like automated payments, set up reminders. These alerts will notify you when a payment is approaching.

Our last financial resolution for 2016 is to make financial literacy a priority for you and your family. In a 2015 survey by Stanford & Poor’s, the United States ranked 14^th globally for financial literacy. We need to work together to improve our understanding of managing money starting with our youth.  The internet is a great resource to find information about budgeting, your credit score, saving, and more. U.S. Eagle offers free financial literacy for youth. We also offer free and confidential financial counseling and education through Balance. If you have any questions, come visit one of our friendly staff members who are more than willing to assist you. Remember, our mission at U.S. Eagle is to “Improve the financial well-being of each member and the communities we serve through trusted relationships.”

Tips and Tricks to Help You Save During the Holiday Season

The Holiday Season is upon us! Don’t worry – U.S. Eagle has your back. Check out these Holiday Tips to help you save during the Holiday Season.

1. Budget, budget, budget. Before you map out your shopping route, grab a pen and paper, make yourself a cup of hot cocoa, and create a list of all the people you need to purchase a gift for. Once you make your list and check it twice, set a dollar amount for each person. Plan not to spend more than this amount. Extra credit: Write down some gift ideas for people on your list!
2. Before braving the holiday crowds, do your research. Track down the Sunday paper and check out what’s on sale at your favorite shopping spot. Score some coupons using mobile apps like “RetailMeNot”, “Flipp”, and Target’s new “Cartwheel” app. Since we live in the Digital Age, take advantage of websites that price compare for you. Before you purchase something online, check out FreeShipping.Org and make sure you grab a free shipping code if it’s available! If possible, start your shopping early, saving it for the last minute tends to be an expensive and stressful adventure.
3. Use cash! Prepare for your on-foot shopping adventure by making your first stop at your financial institution. Take out your total budgeted amount and keep it separate from other spending money. Taking this precaution will lessen the chances of you overspending. U.S. Eagle is offering an Instant Holiday Loan through the end of December. We can deposit the cash right in your account. No need to worry about overspending!
4. Didn’t save for the holidays? Use plastic. I may be able to recommend one of the best credit cards around…U.S. Eagle has some of the lowest rates in the state! If you choose to go this route, make sure you don’t overspend. You’re more likely to spend more using a credit card instead of cash. Another tip, Skip-A-Pay at U.S. Eagle will give you some spending leeway this holiday season.
5. If you’re extra tight on money this holiday season, DIY projects are usually inexpensive and allow you to be creative. You can also create in bulk. Sugar scrubs, homemade cookies, coupon books, candles, ceramic tile coasters, embroidered handkerchiefs, or hand designed mugs are a few gift ideas that are affordable, easy-to-do, and personable for this holiday season. Pinterest or a simple Google search will give you endless DIY ideas!
6. If you plan on purchasing lots of gift cards, take advantage of e-cards. A lot of retailers offer gift cards you can purchase online and send to someone via email for little to no cost! Use GrannyGiftCard.com to purchase gift cards at a discounted price. Personalization of your gift card is usually available on websites as well.
7. If you’re a super shopper, plan on taking full advantage of offers on dreaded Black Friday and anticipated Cyber Monday. Prep yourself ahead of time, find the best discounts, map out shops in the city, and do your research. Beware – some of these “deals” are no better than shopping on a Tuesday or Sunday!
8. If you’re worried about your bank account with the holidays approaching, find areas you can cut back. Driving past Starbucks instead of going to the drive-thru twice a week will save you around $40 per month. Making your lunches at home instead of dining out and ordering water when you do dine out, will help save you some money too.
9. Enjoy free activities around town. If you’re short on money this holiday season, check out Christmas light displays with your loved ones. Pack up your family in the car, put some delicious hot chocolate in a jug, and see beautiful light displays. Some other ways you can afford holiday cheer are: gathering your friends and family for a Christmas caroling journey, volunteering at local shelters and charities, or hosting a Christmas potluck.
10. Remember the reason for the season. Although a lot of stress may come with your holiday planning, remember your reason for celebrating. Spending time with family will always be more meaningful than presents. Volunteer some time at local charities and bake your neighbor some holiday cheer! Happy Holidays!

A Day in the Life of the Fraud Department…

Fast Facts:

- U.S. Eagle is the only Credit Union in the state with a dedicated, local Fraud Department
- Our Fraud Department has been safeguarding member information since 2008
- Our Fraud Department consists of three individuals who are constantly on the lookout for thieves trying to steal from our members

Q&A with Tina in our Fraud Department!

I wanted to put the spotlight on our Fraud Department for a month and let everyone know hard they work to protect our members. Today, we will be speaking with Tina who is our Lead Fraud Investigator. She has been an employee at U.S. Eagle for seventeen years and has been handling fraud claims for fifteen years. Let’s hear what she has to say about fraud!

Q: What does a typical day look like for the Lead Fraud Investigator?

Tina: Well, the main things I deal with on a daily basis are: check card disputes, speaking with members affected by fraud, and working with local law enforcement to prevent financial crime.

Q: What is your favorite part about working in the Fraud Department?

Tina: Helping our members who have fallen victim to fraud. I immediately seek to remedy the situation as well as educate them on how to prevent these awful scenarios from happening again. My goal is to turn a negative beginning into a positive ending.

Q: What is the most common type of fraud?

Tina: The most common type of fraud is check card fraud. Comprises of large corporations have really caused some members a lot of stress. My goal is take this stress away! Due to these compromises, our member’s card information is basically available online. Their card numbers can be purchased by thieves on the black market. Once purchased, the culprits will create a copy of the card and use it to make purchases.

Q: How will members know if their card is being compromised?

Tina: Members will notice purchases they did not make. Once they see these transactions take place, they should call us immediately to close their card. We will have them come down to any of our branches, fill out some paperwork and we will solve the issue as quickly as possible. Our call center may also provide assistance with fraud disputes as well. We will also reimburse the member the amount that was stolen from their account. In the end, U.S. Eagle actually becomes the victim because we will always reimburse our members.

Q: What’s a new type of fraud that you are witnessing?

Tina: Mail theft. Mail theft consists of thieves stealing physical checks from mailboxes. Once a check is in their possession, they steal the identity of our member, and cash checks. For example, let’s say a member pays their electric bill using a check and places the check in the mail. A thief will come to the mailbox, steal the check, create a driver’s license and a fictitious check using the information on the check, and go to a drive thru and attempt to cash or deposit the check.

Q: How can our members prevent fraudulent activity?

Tina: Members can protect themselves from fraud in a few ways. I recommend pulling your credit report once a year – it’s free and allows you to be aware of any suspicious activity that could potentially take place. Another way is utilizing online banking. Checking your account regularly ensures that the transactions are valid and that there is no suspicious activity taking place. Lastly, stay up to date with current events and maintain a healthy knowledge of potential fraudulent activity that could happen to anyone.

Q: Any last words of advice for our readers?

Tina: If you ever think you are a victim of fraud and or your account has been compromised always know that U.S. Eagle Federal Credit Union has a local fraud department that is here for you. The Fraud Department can be reached at 505-342-8871.