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August 2018 - In This Issue:
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As a Branch Supervisor in Mobile, Alabama, Theresa Shore has been with JMAFCU since 2008. Prior to coming to JMAFCU, Theresa acquired 11 years of experience in banking and credit unions. Recently promoted, Theresa worked with Gwen Johnson for 10 years, gleaning from Gwen's expertise and leadership.
Theresa recently celebrated 10 years as a JMAFCU associate and thoroughly enjoyed her first anniversary trip to Boca Raton. Theresa aims to model what she believes was the heart of the founder of JM Family, Jim Moran, striving to "give better service than everyone else" while building a place that is unlike any other.
As a JMAFCU associate, Theresa strives to provide this type of service to benefit you and your immediate family members and looks forward to assisting you with
products, services and lower interest rates on loans.
Theresa is honored to be a part of JM
Family and is just a
phone call or branch visit away.
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Bills to Pay?
JMAFCU's SAFE Bill Pay Is the Way!
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Bills. Unfortunately, there's no way around them. We all have them, and they demand to be paid. Most companies will allow you to set up electronic funds transfer payments, which will allow them access to your accounts to take money in order to receive payment. There is, however, a better way to pay. JMAFCU's SAFE BP puts the control in your hands. You establish your payees, how often they are paid and on what dates. And it is totally free - no writing checks, no trips to the post office to purchase stamps and no personal checks to get lost in the mail. Don't have SAFE BP? Visit us at www.jmafcu.org, log in to Safe IB and find Bill Pay under Online Services. SAFE BP is also accessible through SAFE Mobile, so you can even pay bills on the go! SAFE BP, the SAFE way to pay!
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Refi Your Ride and Leave High Rates Behind!
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When was the last time you checked your auto loan rate? (Last month? Last year? Never?) It's time to take a look, because if you financed your vehicle with a financial institution other than JMAFCU, you may be paying too much for the car you love.
Here, we keep payments affordable with rates as low as 2.34% APR* on pre-owned vehicles with terms up to 72 months.
Check your rate and refinance now! Though market rates are increasing, there's still time to lock in a great low rate with JMAFCU.
*APR=Annual Percentage Rate. Terms and conditions based on an evaluation of each applicant's credit history. Members may acquire vehicle loans with payment periods of up to 72 months and financing up to 100% of the purchase. Payments may be established as monthly, semimonthly, biweekly or weekly. You may pay by check, an automatic deduction from your account, direct deposit, payroll deduction or transfer.
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Back-To-School Lessons to Earn by
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Time to LEARN & EARN up to $300!
JMAFCU
has some great news this back-to-school season. Get your kids the latest phones with Sprint® and get up to $300 in cash rewards. Here's how in three easy lessons:
Lesson 1:
Give them the latest new phone with Sprint. Sprint's best unlimited plan now includes Hulu.
Lesson 2:
Get up to $300 in cash rewards as a benefit of credit union membership for new lines you activate with Sprint.
Lesson 3:
Current Sprint customers receive up to
$150 in cash rewards
every year for lines transferred into Sprint Credit Union Member Cash Rewards.
Extra Credit: You'll receive up to $150 in loyalty cash rewards every year for lines activated or transferred. Sign up today to start enjoying your rewards!
Here's how to sign up for Sprint cash rewards:
- Become a Sprint customer and mention you're a credit union member.
- Register at www.LoveMyCreditUnion.org/SprintRewards for your cash rewards.
- Allow six to eight weeks to see cash rewards directly deposited into your credit union account.
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All You Need to Know About Smishing Scams
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Text messaging has come under attack as one of the most vulnerable mediums for identity theft and more. Here's what you need to know about an SMS message-based scam called "smishing."
How it works
Smishing scams use text messages to establish contact with the intended victim to later access their personal information.
The scam begins with a supposedly urgent text appearing to be from the victim's financial institution. The text may claim that the victim's checking account is locked or that there has been an unauthorized purchase charged to the victim's account. The scammer will warn that immediate action must be taken.
The victim is then instructed to call a specified number and, upon doing so, will be asked to share their financial information. Once
the scammer
has their hands on this info,
they're
free to steal the victim's identity, empty their accounts or go on a shopping spree on the victim's dime.
Who are the victims?
Smishing scams primarily target people who do their banking online, but fraudsters will use any cell phone number they can find. If you own a checking account and a cell phone, you are a candidate for a smishing scam.
Recognizing smishing scams
Your credit union will not alert you of a possible fraud or account lockdown via text; we prefer more personal means to help you know it's us.
Also, the phone number the smishing text instructs you to call is not ours. You can reach us at 800-581-2256. If you're told to contact us at a different number, it's not us you're calling!
You can also spot the smishing scam just by looking at the phone number. The text will often appear to come from a number that is obviously fake.
If you've been targeted
If you receive a suspicious-looking text, do not engage the texter! Jot down the scammer's number and delete the message. Let us know about the smishing attempt, tell all your friends and alert the FTC (www.ftc.gov).
If you've fallen for the scam and your accounts have been compromised, alert your credit card companies and other financial institutions, and be sure to let us know, too.
Protecting yourself
- Always use two-factor authentication for banking apps and sites.
- Use strong and different passwords across your accounts and apps.
- Ignore all text messages from unknown numbers.
Don't let crooks get their hands on your money!
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Back to School on a Budget
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The end of summer is an exciting time for students - new school year, new classes and, of course, new "stuff!" Although thrilling for kids, shopping for school can be a stressful time for parents. Follow these budgeting tips for back-to-school spending so this time of year can remain fun for the whole family.
- Take inventory of what you have at home before making a shopping list. This will keep you from buying unnecessary items.
- Create a budget with your kids. Discuss the difference between a "need" and a "want" before you leave the house to go shopping. They may want that $90 pair of gym shoes, but the $40 pair is most likely a better fit with your budget.
- Watch for garage sales throughout the summer. Items such as winter jackets, backpacks and lunch boxes are usually easy to find.
- Shop the outlet malls for new clothes. Kids will love the brands, and you will love the prices.
- Never stop looking for deals. Watch for sales during the late fall and stock up on school supplies that can be stored for later.
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Take Advantage of Sales-Tax Holidays
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 Many states offer sales-tax holidays throughout the year for a variety of items including school supplies and bad-weather preparedness items, giving families a much-needed break on their stretched budgets.
Of the states that offer a sales-tax
holiday, some, like Oklahoma, offer
it on only clothing, while
others, like Louisiana, offer
it on all goods up to a set amount. This year, when preparing to undertake the sometimes-daunting task of back-to-school shopping, here are some things to consider:
- First, see if your state or a nearby state offers a sales-tax holiday. (The following states never charge sales tax: Alaska, Delaware, Montana, New Hampshire and Oregon.)
- Second, make sure to consider the loopholes, like those mentioned above. If your state only offers the sales-tax holiday on clothing, don't plan to buy everything at the same time.
- Third, be sure to consider local sales taxes: Cities and counties aren't always in on the same arrangements.
- Fourth, and perhaps most importantly, set a budget for back-to-school shopping, and stick to it!
Once you're in the store and shopping, if you think you could potentially get an item
cheaper online
, consider that alternative. Also, remember to check your receipts as registers will have to be pre-programmed for this season, and mistakes may sneak in.
These sales-tax holidays generally last for only a couple of days, usually sometime during the summer months. Visit www.taxadmin.org/sales-tax-holidays to see the list of states, dates and tax-free items. You could save a bundle!
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The 3 Laws of Smart Money Management
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Are you keeping the three smart money laws? You should, because if you do these three things, you will have no financial worries. Really! These are three things you can do to get your finances under control. There has been a lot of information going around about how to be smart with money, how to invest wisely, where to save and things like that. It's all good information, and maybe you want to get into that eventually, but the foundation of having no money problems is really very simple. There are just three laws. Keep them, and you'll find yourself with extra cash in your hands within just a few short months. Ready? Here they are:
1. The Law of 10 Cents
When you keep this law, you take 10 cents of every dollar you earn or receive and hide it. You can hide it in your credit union savings or share certificate account, in your mattress, or in a hole in your backyard. It doesn't matter. Get used to living on 90% of your income while 10 cents of every dollar gets put away. Some people call this "paying yourself first." Whatever you call it, follow this rule, and you will soon be on your way to building a very comfortable nest egg. You might think that 10 cents on the dollar is not going to get you very far. But consider this: You can get used to living on 90 cents for every dollar you earn, and after 10 months, you will have a full month's salary put away. Not bad, huh? In 10 years' time, you can technically take a year off. What to do with that nest egg? We can talk about that another time. Meanwhile, the important starting point is to get used to keeping the Law of 10 Cents.
2. The Law of Organization
Quick: How much money is in your share draft account right now? How about your savings account? How much do you owe on your credit card? If you don't know, and if it would take you more than three minutes to find out, you're not keeping a law that's easily kept. According to the Law of Organization, you should develop a clear picture of what is where at all times and update it frequently. Set up a system for tracking all your accounts. Quicken® is a good one, but there are others too. It'll take a few hours' time to set it up, but once you've done it, regular maintenance shouldn't be more than 20 minutes a week. Think also of how much you can buy with the money saved on late fees, insufficient funds fees and all the other expenses of not having your finances in order. The Law of Organization will help you avoid all that and more.
3. The Law of Enjoying the Wait
It's widely accepted that good things come to those who wait. If you must have things before you have the money for them earmarked, you've fallen prey to the great American debt machine. The Law of Waiting states that you pay, and pay well, for having things now. If you can wait until later, and put money away specifically for the purchases you have in mind, you will have outsmarted the debt monster. How much do you pay to get things sooner? Look at your interest rate and figure it out. Debt isn't cheap. Think of how many things you could have bought with that wasted money! When you realize how much smarter it is to buy things when you have the money on hand, you'll actually begin to enjoy the wait. If you're serious about getting your finances under control, you'll follow the three laws of smart money management.
Questions? Email us at [email protected].
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It's a Great Time to Buy a Home
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Mortgages: For Pre-Approvals, Purchases and Refinancing
JM Associates Federal Credit Union longtime mortgage partner, Capital Mortgage Funding, is here to assist with all your mortgage needs for refinancing, purchases or pre-approvals.
Here are just some of the benefits you can expect:
- Mortgages for primary homes, second homes and investment properties
- Pre-approvals at no cost
- Superb service with experienced, dedicated staff for JMAFCU members
- Conventional, FHA, VA, Jumbo, USDA/RD and 203k
- Very competitive interest rates
We strive to handle your mortgage with an unparalleled level of service.
To learn more, contact us today:
This advertisement does not constitute a commitment to lend or extend credit. Loans are subject to credit approval. All information is subject to change without notice. Not all loans or products are available in all states. Restrictions may apply. All information is deemed reliable but not guaranteed. Capital Mortgage Funding is Powered by Fairway Independent Mortgage Corporation. NMLS #2289
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