Each time that you use your Financial Center debit or credit card, a merchant is paid immediately and your Indianapolis credit union receives interchange. Interchange helps pay the cost of many local credit union services such as reissuing cards compromised by a merchant data breach and supplying a contact center that is available when your debit or credit card is lost or stolen.
The United States Senate passed a financial reform bill that included provisions that would make changes to this card payment and interchange system. If you have a Financial Center debit or credit card, interchange supports the program that you depend on. If interchange is reduced and changes were made that hindered the ability for Financial Center to adequately support the program, then you may end up paying more to use your debit or credit card.
Furthermore, this legislation may allow merchants and retailers to discriminate against which debit cards they accept. Merchants and retailers may reject your debit card, regardless of what financial institution you belong to.
The current system allows your Indianapolis credit union to provide competitive and member-friendly products such as our debit and credit cards.
Please join your local credit union in voicing opposition to this legislation.
Effective July 1, 2010, for new accounts and prior to August 15, 2010, for existing accounts, federal regulations require members who are eligible for Overdraft Services to opt-in to the program in order to be covered even if they have been covered in the past.
What does Overdraft Services cover?Overdraft Services covers your everyday debit card transactions and ATM withdrawals even if you have insufficient funds in your account. Overdraft Services allows you to complete your transaction and purchase items that you need such as groceries or gas when you may have insufficient funds in your account. Overdraft Services is available when you need it the most when emergency situations arise and you do not have sufficient money in your account.
How much does Overdraft Services cost?If you overdraw your account through an everyday debit card transaction or ATM withdrawal, Financial Center will charge you a $33 fee to authorize the transaction. This fee will be assessed each time you use your debit card or make a withdrawal from an ATM until you have sufficient funds in your account to cover the transaction. We only charge a fee when you utilize Overdraft Services. It is free to opt-in for this service, and the service is free even if you never use it.
Please tell us if you want to keep this convenient coverage on your account for everyday debit card transactions and ATM withdrawals. If you do not opt-in to Overdraft Services and there are insufficient funds to cover a transaction when you need it, Financial Center will not authorize the transaction after August 15, 2010.
If you choose to opt-in to Overdraft Services, these transactions will continue to be covered.
Click here to either opt-in or opt-out of Overdraft Services from Financial Center. Your response is needed by July 1, 2010.
If you have further questions, contact your Indianapolis credit union at 317.916.7700 or 800.473.2328 or visit any
Center location.
Due to recent fraud activity, Financial Center is blocking debit card transactions where the card is swiped and processed as a credit in the following states:
- Minnesota
- North Carolina
- Texas
Members are advised to process their debit card transactions as a debit and use their PIN to successfully complete the transaction. If the card is swiped and processed as a credit, the transaction will be declined.
We apologize for this inconvenience. Please call Member Services at 317.916.7700 or 800.473.2328 if you have further questions.
Please continue to check our
website and blog for more information.
UPDATE (6/18) - This problem has been corrected and members should not be experiencing any problems using their card in Minnesota, North Carolina, or Texas.
We were struggling with our credit cards and high interest auto loan. FCFCU was able to assist in consolidating some of our credit cards AND refinancing our auto loan. It's great to receive assistance. Not only that, I can proudly pay and know that the money that I am spending on interest is going to us and not some other person. This credit union is really member driven. Thank you again for everything.
Cara Winger
McCordsville, IN
What are some of the HSA benefits? HSA health plans have a number of benefits when compared with the traditional health insurance plans. Here are some HSA benefits:
- The funds that you contribute to your HSA bank accounts are completely yours.
- Health care providers and plans can be changed as per your requirements with absolutely no penalty imposed on the change.
- The funds deposited in the account are totally tax free.
- Health care cost of individuals and families will come down substantially each year due to HSA health plans.
If you are unsure about what HSA health plans are and what benefits you will get out of it you can always refer to the health savings accounts FAQ, which will enable you to get a clear perspective.
If you want to learn more about a bank health savings account, please don't hesitate to get in touch with Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
More than likely, if you are looking into HSA savings then you already know a thing or two about them. However, we thought we'd include a few additional benefits of such a health savings account plan:
- The coverage of the HSA health plan is extensive and you can use it to cover a variety of medical expenses, which include dental costs, annual physicals, mental health cost, over the counter medications, maternity costs and alternative medication like homeopathy.
- A very big advantage of an HSA is that you can continue with the health savings accounts, even when you lose a job or retire.
- If you do not take money from the account, it will continue to grow and you get added benefits in the future.
If you want to learn more about a bank health savings account, please don't hesitate to get in touch with Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
A health savings account plan can be used to save money for your medical needs in the present and in the future.
The biggest advantage of a health savings account plan is that they provide security against high and unexpected medical bills. Even if the funds are not utilized they will remain in the account with each passing year, earning interest on it.
The withdrawals from the account are also tax free, if they are utilized for medical purposes. Even when you are unemployed or move to a different state the funds will continue to remain in your account.
If you want to learn more about money education, please don't hesitate to get in touch with Financial Center of Indianapolis.
During the current recession, now more than ever it is important to really understand the importance of learning about money.
Here are some great money education tips:
- Before making any investment and loan choices, you need to carefully analyze all the options available and choose a plan that best suits your needs.
- Reduce your credit card usage and if you own more than three cards, try bringing it down to two.
- Select credit cards with the lowest interest rates.
- Use the Internet to get bargain and discount deals on things you wish to buy.
- Do not make expensive purchases unless it is an emergency.
- Consolidate all your debt to avoid paying different interest rates.
Our Financial Services Indianapolis will be able to guide you in making good financial plans, which will help you achieve financial success. Our Financial Education Indianapolis helps to provide financial literacy to the community, which will help everyone have a secure financial future.
If you're interested in learning about money, please don't hesitate to get in touch with our Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
Personal money management can be really tricky in these tough economic times. You will need to be financially savvy to avoid falling into a debt trap.
Here are some simple money education tips that will help you manage your finances better.
- Analyze your finances; calculate your income, expenses and debt to arrive at a clear understanding of your financial health.
- Prepare your budget, with specific allocations towards fixed and variable expenses.
- Make a shopping list and strictly adhere to it. Do not make any unnecessary purchases.
- Track every purchase to check whether your financial plan is fool proof.
- Prioritize all your expenditures and try implementing your prudent financial plans.
If you're interested in learning about money, please don't hesitate to get in touch with our Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
A medical savings account Indianapolis will help you save money for medical expenses. You can open a medical savings account in the local credit union of Indianapolis.
The funds deposited in an HSA in Indianapolis are tax deductible and in certain cases the state may offer a higher tax deduction based on the tax structure prevalent in that state.
In order to qualify for a medical savings account you must have a high deductible health plan, which has nearly 20% to 50% lower premiums and this depends on the place of your residence.
All these reasons make opening a medical savings account with a local credit union a very good financial decision.
If you're interested in learning about medical savings accounts, please don't hesitate to get in touch with our Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
What are reasons to have a medical savings account?
- It provides tax benefits and retirement options.
- You can use the funds deposited in the plan for alternative and preventive care.
- The money deposited is totally yours.
- Current and future medical expenses are covered by tax free savings.
- Low insurance premiums.
- The health savings account is yours, even if you change jobs.
- Dental, eye, prescription drugs and over the counter medicine expenses are covered by the medical savings account.
- You are in total control of your money and decisions regarding using it are completely yours.
- You can decide on what type of investments you can make with the money in order to make it grow.
- The contribution limit varies with each year and is different for individuals and families.
- You can save the money in your account till the age of 65 after which the money will be taxed as per the normal income tax rules.
If you're interested in learning about HSA Indianapolis, please don't hesitate to get in touch with our Financial Center of Indianapolis.
Even when you switch jobs, the money in your HSA is yours. The money that is contributed to the HSA account is as safe as putting it in your individual savings account. The money from the account can also be used for medical treatment anywhere in the country or in another country.
The money that you have in your HSA accounts can also be used to pay for health insurance premiums and may be tax deductible.
Individuals who are over the age of 65 will be able to withdraw money from the account, and it is only taxed as ordinary income. The funds in the account under all circumstances remain with the individual and will never belong to the insurance companies or to the employer, even if the individual changes his/her job.
If you want to learn more about a bank health savings account, please don't hesitate to get in touch with Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
HSA accounts can be used to supplement you current health insurance coverage and allow you to make substantial savings on your health plan. There are a number of plans that are available and factors like age, previous medical history and area of residence that will determine the features of the plan.
You can choose the best HSA plan available depending on your individual needs and requirements. If an individual makes contributions on a yearly basis and does not use the funds saved, then the HSA savings will accumulate over the years. This money can be utilized to invest in stocks, bonds and mutual funds.
These funds can be used for qualified medical expenses like visits to the doctor, eye doctor and dental care as well as for buying prescription drugs and over the counter medications.
If you want to learn more about a bank health savings account, please don't hesitate to get in touch with Financial Center of Indianapolis. You might also be interested in Reward Checking which earns dividends.
HSA health plans cover costs that are normally not covered by traditional health insurance policies like dental expenses, mental therapy, physical therapy, alternative treatments (acupuncture, aromatherapy and homeopathy and ayurvedic treatments), transportation and lodging expenses related to health care and maternity expenses.
HSA benefits include saving money on insurance premiums and on your income tax. In fact, you can call it a double bonanza of sorts. Individuals who stay healthy get a lot of benefits as the un-utilized money is yours, even when not used for medical purposes.
HSA health plans encourage people, to stay healthy as they can get substantial savings if the money is not used and it is a powerful incentive, which encourages people to opt for the health plans.
If you want to learn more about a bank health savings account, please don't hesitate to get in touch with Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
Insurance companies offer HSA health plans which are paired with high deductible health insurance plans and help reduce the premium rates as much as 30%. When you switch from a traditional health insurance plan to health savings accounts plan, you end up saving substantial amounts of money every month.
Our health savings account FAQ will provide you details about how much money, you can put in your health savings account and what the tax savings will be due to that. You can also get detailed information about the various HSA benefits, how much money you can contribute and how to withdraw money from your account.
Individuals can research the various HSA health plans online and choose the plan that best suits their needs. You can compare the premiums offered by most companies and decide what will be beneficial for you and your family.
If you want to learn more about HSA savings, please don't hesitate to get in touch with Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
The funds in your HSA account can also earn interest and the earnings are tax free if the money is used for medical purposes. An individual account can also be assigned to the spouse through a power of attorney.
If you don’t withdraw the money from your bank health savings account the funds can grow from year to year and the entire amount of money is yours. There is no maximum limit to the amount of money that can be in the account.
If you want to learn more about HSA savings, please don't hesitate to get in touch with Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
A bank health savings account helps individuals and families get tax savings, earn interest, reduce insurance premiums and encourage long term savings.
HSA banks have the option of opening an account quite easily. An individual can either apply for the account online or visit the nearest bank that offers the account.
HSA information like eligibility forms and the income limits can all be accessed online. In order to qualify for a HSA, you must also be covered by a high deductible health plan. Individuals who are 18 years and above can opt for the health plan and there are no income limits to subscribe to it.
The contribution that an individual makes each year varies and for the year 2010 it is $3,050 for an eligible individual and $6,050 for family coverage. Contributions can also be made by your employer.
If you want to learn more about a medical savings account Indianapolis, please don't hesitate to get in touch with Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
An Indianapolis Federal Credit Union serves its members by providing financial assistance by way of loans and credit cards at very reasonable interest rates. The financial education Indianapolis that we provide is intended to help the youth in the community.
We have a partnership with the school authorities to promote the financial decisions of its young people with a goal to improve the education process.
The students can have access to a credit union center and this helps them in planning their financial future. The credit union is established in the school for no extra cost and is maintained with the aim to provide financial education to the students.
If you want to learn more about how your students can gain by learning about money, please don't hesitate to get in touch with Financial Center of Indianapolis.
Have you fallen in love with the home of your dreams? Now, do you need a mortgage account Indianapolis? Or do you need to refinance your home?
A credit union, like ours, offers its members the facility to bring their outstanding mortgages, home equity loans, and credit cards in order to save money and enable them to increase their savings.
You can use the Internet to access information regarding the various mortgage options that are available and choose the one that best suits your requirements. If you are looking for rates to refinance your mortgage, you will need to check with us to get the best possible deal.
If you want to learn more about a mortgage, please don't hesitate to get in touch with Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
In our current tough economic situation, it is very important that you know how to handle money. Learning about money is essential to manage your savings and expenditures.
Planning is very essential, when dealing with finances. A good plan will help in avoiding debt and you can save for all your future needs. It is not difficult to manage money if you have a budget in place. You must stick to the budget and avoid impulsive shopping.
Reduce non essential spending and when going out shopping always have a list of items to buy. This will help prevent frivolous shopping.
Another tip is to save regularly for your retirement. A financial plan will make your future secure and safe from any problems you may face.
If you're interested in learning about money, please don't hesitate to get in touch with Financial Center of Indianapolis. You might also be interested in our Reward Checking which earns dividends.
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