For young people it may be difficult to get approved for your first loan or credit card. When you finally decide that you are ready to take on the responsibility of using a credit card or a loan the lender is going to pull your credit report. Your credit report tracks all of your late or on time payment history. When you turn 18 you are eligible to apply for loans, however it may be difficult to get approved because you will not have any credit history. Sometimes having no credit is just as bad as having poor credit. One thing you may want to consider to help building credit is to apply for a share secured loan. A share secured loan is a great way to give a young adult financial responsibility. Then loan is secured by the money in your savings account. Make your payments on time and only pay the amount that is due each month. Keep the loan for the entire term. This will show lenders that you can make on time monthly payments and you can handle debt responsibly. Stop by or call your nearest FCFCU center today to get more information!
credit union is our home equity line of credit. We lend up to 80% of your home's value, and we have no closing costs or annual fees. Home Equity loans can help you take a much needed vacation, renovate your home, or help pay for your child's tuition. You may even be able to get a new pool (Hopefully your pool will be more elaborate than my son's).Apply online today and get your home equity line of credit union from a local credit union serving the Indianapolis area.
Want to check the balance on your FCFCU accounts, including your Health Savings Account, at any time? It is easy to do when you enroll for online banking on our web site. Credit union banking in Indianapolis has never been easier at an Indianapolis credit union. Simply enroll at www.fcfcu.com and you can check your balance online 24/7.
Bank locations might be a focus when considering where to open your Indianapolis checking accounts. But, at the Financial Center, we want to make accessing information about your finances easy -- no matter where you are. You can safely access your credit union account information on-line and even send a secured e-mail message to us any time.
If you need help getting started, email me at dblake@fcfcu.com.
union is because they think they are not eligible to join. Here are the criteria for joining our local Indianapolis credit union.Members of Financial Center or their family members must live, work, worship, attend school, or volunteer in Marion County.
Do you fit any of these criteria? If so, you can join Financial Center.
Congratulations to Aaron Margolis-Greenbaum! Aaron was a 2009 graduate of North Central High School. He was also a student in the radio TV class at J. Everett Light Career Center and the recipient of the 2009 Financial Center Federal Credit Union Scholarship. Aaron will be attending Ball State University in the fall. Good Luck Aaron!
Young people don't like asking for cash and honestly who likes using it? We want our teens to have access to funds but are they ready for the responsibility of a credit card? A Financial Center Debit Card could be the solution.
A Visa debit card works the same as using cash or writing a check and deducts the money from your checking account. A debit card is a great way for your teen to learn to manage their money responsibly. If you have a teen going away to college you can easily transfer money into their account so that they can use their debit card to purchase all of their college necessities!
What's keeping you from using this service? Leave a comment below and ask any questions that you may have about BillPayer.
According to an article in the Indianapolis Star today, home sales dipped nearly 20% in May for Indiana. This has caused a fall in the median price of homes of 4.3% to a price of $110,000. If you're in the market for your first home, there are great opportunities available.If you're researching Indianapolis loan rates, our credit union can help. We have competitive mortgage rates, excellent service, and money to lend.
Request more information today!
When people have to go withdraw money or deposit a check, they often say that they are "going to the bank". They do not name a specific institution, but rather refer to their financial institution in a generic sense.
Why not try something different? Why not do your "banking" at an Indianapolis credit union?
Credit unions are different from banks. Credit unions are owned by their members and not shareholders. Any profit that a credit union makes is returned to members through better rates on savings and loan products. We also normally charge less fees than banks.
It's time to check out the difference for yourself, and join Financial Center.
Let's talk about the options for healthcare reform;
Universal Plan? Public option? Single payer? Something new? No change at all? Stay tuned as we examine and explore, together.
1. Apply Online
Use our online loan application 24 hours a day on our website at www.fcfcu.com.
2. Give Us a Call
Our Lending Center is open during our normal operating hours Monday through Saturday. Give them a call at 317.916.7700 or 800.473.2328 and select option 2 to apply for a loan over the phone.
3. Visit a Center
We have eight Indianapolis credit union locations where you can fill out an application and talk to one of our representatives.
If you're searching for the best Indianapolis loan rates, consider applying for your next loan at Financial Center. We've got money to lend and we're here to serve this community.
Financial Center will host a Shred Day this Saturday, June 26th, at our Fox Road Center located at 11715 Fox Road in Indianapolis from 10 am to Noon.
Whether it's small business documents you no longer need or personal papers you want demolished in a safe and secure manner, this local credit union is offering the opportunity to have your confidential documents destroyed.
Statistics show that more than 60% of bankruptcies are linked to medical bills.
I have some friends who recently filed bankruptcy due to medical bills for their 6yr old daughter. Their daughter had been receiving treatment from a children’s hospital that would not accept their insurance. They had accumulated over $40,000 in debt to the hospital. The hospital told them they would not continue to treat their daughter until the bills were paid in full. As a result they were forced to max out every credit card and line of credit they had. The debt became too much to bear. Had they been on a High Deductible Health Plan (HDHP), with a Health Savings Account, it might have been able to help them avoid bankruptcy.
They were married 8 years ago. If they had been on a HDHP, family plan and put away $5,000.00 each year into the plan, they would have had plenty to pay for their daughters medical bills. The two of them are young and healthy. The only medical bills they have had to pay over the past eight years are on the birth of their daughter and general visits. If you assume a 3% rate of return and $5,000 deposited into the account each year they would have had between $40,000 and $42,000 in their HSA at the time their daughter became ill (this includes a deduction for the birth of their daughter and office visits). They would not have maxed out their credit and been forced into bankruptcy.
I think a lot of people forget if you don’t use the money in your HSA it is there the next year, and the next year, and the next. It will be there when you need it. What a great way to save for the unexpected.
Visitors to our Main Center location on the eastside of Indianapolis this morning noticed a different kind of vehicle in our parking lot. 15 credit union employees took advantage of the opportunity to donate blood for the Indiana Blood Center.
The Indiana Blood Center supplies more than 550 units of blood to more than 60 Indiana hospitals every day. We're glad we could help!
Bring in any confidential or personal documents that you need shredded. This service is completely free. Help protect your identity and avoid fraud by taking advantage of our Shred Day this Saturday.
we've been fielding plenty of phone calls and emails in response to our scheduled Member Appreciation Night at Victory Field on July 20th. To thank our members for their business, we're offering an opportunity for all Financial Center members to spend a night at the ballpark with us. Catch the Indianapolis Indians versus the Durham Bulls on July 20th at Victory Field in downtown Indianapolis. Tickets are free for all Financial Center members.
Call the marketing department at 317.916.6250 or send us an email at dept.busdev@fcfcu.com. Tickets are available while supplies last, and are limited to 8 per household.
UPDATE 6/17/09: We are currently out of tickets for Member Appreciation Night, but we are accepting names for a wait list.
In a letter to its financial institution partners, Microsoft (MS)announced that it will cease sales of Microsoft Money after June 30th, 2009.
“With banks, brokerage firms and Web sites now providing a range of options for managing personal finances, the consumer need for Microsoft® Money Plus has changed. After suspending annual updates of Money Plus in 2008, Microsoft is announcing that we will no longer offer Microsoft Money Plus for purchase after June 30th, 2009. This includes Microsoft Money Essentials, Money Plus Deluxe, Money Plus Premium, and Money Plus Home & Business.”
Microsoft is ceasing its online feature support for all versions of Money after January 30th 2011. MS will post a public announcement on its web site on June 11th, 2009 (www.Microsoft.com/money). The impact on the Small Business Accounting software (now called Accounting Express) that was based on Money is not detailed, but its fate is not expected to be impacted by the end of the consumer oriented MS Money.
They also say they will post an FAQ detailing a variety of the services that will no longer operate after 2010.
In the FAQ, Microsoft is not recommending that current Money users upgrade from any currently supported version (2006 or higher). However with the announcement of the product’s sunset date, the last version may experience fire-sale pricing.
So, what will MS Money users, like me, do to maintain our personal finances? Some options spring to mind.
- Buy Quicken or some other Personal Finance Management software (PFM)?
- Investigate the myriad of Online PFM providers? Mint, Wesabe, Yodlee, Mvelopes, ... Google lists dozens of these.
- Scrap it all and go back to using a spreadsheet?
- Wait to see what my bank or Credit Union decides to support?
First of all, there is no great hurry. MS Money will continue to function through 2010 and most of the features will continue to function well beyond. Money will still track your expenses, your budget, and project your cash flows. Tax tables, investment rates and prices have always been updateable manually.
Financial Center Online will still support both the history download features and the direct-connect interface (history and BillPayer integrations). Because these features operate independent of the Microsoft sites and services, they will continue to function after the 2011 sunset date.
Perhaps you too will be using this event to evaluate what you were getting from using MS Money in the first place? For me, the product is used for
- Cash flow projection
- Budget management
- Investment “tracking” (IRA, 401k, and stocks) – mostly statement balancing.
Defining what I really need in a PFM will make choosing a new tool much easier. I was never enough of an accountant to enjoy using Quicken and my needs are really not that sophisticated.
Here's what's coming up at your Indianapolis credit union:
Investment Options - Saturday, June 20th
Gain an overview of what types of investment products we offer including annuities, mutual funds, and brokerage accounts. This seminar takes place from 10 am to Noon at our Main Center location.
Home Buyers Seminar - Saturday, August 15th
Making smart financial decisions regarding your home requires research and planning. Insightful information will be provided on topics such as choosing the best Realtor, the complete mortgage process, and the various mortgage products available. This seminar takes place from 10 am to Noon at our Main Center location.
To enroll in any of these seminars, call our marketing department at 317.916.6250 or send an email to dept.busdev@fcfcu.com.
I have found many people are not sure if they are in a High Deductible Health Plan. They know what their deductible is and it seems high. So are they eligible for a Heath Savings Account?
Just follow the questions below to see if you are eligible for a Health Savings Account.
Are you on Medicare?
If YES then you can not contribute to a Heath Savings Account
NO, then…
Are you covered under VA benefits?
If Yes then you can not contribute to a Health Savings Account for 3 months after receiving benefits.
NO, then …
Are you covered by a Heath Reimbursement Arrangement (HRA), Flexible Spending Account (FSA) or a Health Cafeteria Plan?
If Yes, you are, most likely, not able to contribute to a Health Savings Account. However, check with your employer to see if they are “properly coordinated with the HDHP”. If they have no clue what you are talking about you are not able to contribute to a Health Savings Account.
If NO, then…
Are you the only one insured under your health insurance?
If YES, Is your deductible $1,150 or greater?
If YES, You are eligible to contribute to a Health Savings Account.
If NO, You are not eligible to contribute to a Health Savings Account.
If NO, Is your deductible $2,300 or greater?
If YES, You are eligible to contribute to a Health Savings Account.
If NO, You are not eligible to contribute to a Health Savings Account.
