Money Literacy

Indianapolis Credit Union Offers Directo a Mexico

Wednesday, March 10, 2010 by Debby Blake

Want an easy way to send funds to a family member in Mexico? Financial Center, your local credit union, now

offers a new financial service to help you. Directo a Mexico is a secure, low cost, fast and convenient way to transfer your money to Mexico. Ask one of your Credit Union associates to tell you more about Directo a Mexico. We think you will agree that it's the best way to send money home. Contact us today at 317.916.7700 to learn more.

Start saving now with a Money Market Account from Financial Center

Monday, March 8, 2010 by FCFCU Web Team

Have you always operated a savings account at your bank? Are you an avid saver, always trying to find the best deal for the greatest value and storing more in savings than the rest? Or maybe you struggle with saving money and want to limit your access to you money so you do make poor decisions. Either way, you may want to consider a Money Market Account from Finance Center Federal Credit Union.

Money Market Accounts from your local credit union operate much like a savings account you're used to. Some key differences include a higher APY and usually limited withdrawals and transfers made from that account. In a Money Market account you are essentially placing a given sum of cash in the hands of your bank, and they are, in turn, investing your money across many low risk options. You can learn more about Money Markets here.

A Money Market with Financial Center is a great alternative to your savings account as it yields a higher APY than most savings accounts and it protects you from impulse buying as you are limited to six withdrawals per month.

Financial Center offers three tiers of Money Market Account options, Standard Money Market, Premium Money Market, and Prestige Money Market, all based on amount of initial deposit and subsequent APY. You can manage all of your Money Market Accounts with your credit union banking online. Open a Money Market today and put your money to work for you.

If you are looking for advice on how to manage money, or simply learn more about money and the options provided to you, Financial Center can help you. With Anytime Adviser, an online explanation and advice tool, and scheduled free seminars, you can learn about how to better manage your money and improve your money literacy.

Help Haiti at Your Local Indianapolis Credit Union

Friday, March 5, 2010 by FCFCU Web Team

Are you not quite sure how you want to help the Haiti relief project? Haitian residents are still in need of adequate supplies and aid in this desperate time. It has been over a month since the earthquake rumbled the small country and the giving nationwide (and even globally) has been remarkable. But, please don't think this a quick fix problem. The infrastructure of the country was so frail pre-earthquake that the road to recovery will take years and the American Red Cross is still in need of your valuable donations.

Your local credit union, Financial Center of Indianapolis, has pledged to donate funds to the American Red Cross to help with the relief effort. The staff at Financial Center is trying to make a difference in this disaster and they are asking for your help, as well. Financial Center has set up a system to make donations to the American Red Cross directly from your member accounts. Not only that, but FCFCU will match overall total member donations up to $2,500.00. Members can make donations by phone, by visiting any Financial Center location, or through the secure messaging feature in online banking.

This is just one way your Indianapolis Credit Union is different from other banks. The staff at Financial Center are willing and able to put a face to an institution and rise to meet even global challenges that we face. Financial Center is a member-owned credit union with personality and a heart, dedicated to serving the community not just here in Indianapolis, but around the World.

If you're looking for more out of your bank, or maybe you've been looking to open a checking account in Indianapolis, or maybe a Health Savings Account Plan, or possibly looking for better loan rates, consider Financial Center of Indianapolis. And when you do, consider giving a little of yourself to help the relief effort going on in Haiti right now.

Just another way your local credit union is more than just a bank.

Finance Center Federal Credit Union offers virtually all the benefits that your current bank does but with lower and even less fees, no hidden agenda, and better all around rates. Virtually anyone can become a member and find convenience in online banking, checking, savings, credit cards, money literacy, and even HSAs with Financial Center.

Save today with an HSA from your Indianapolis Credit Union

Wednesday, March 3, 2010 by FCFCU Web Team

Now could not be a better time to find an alternative to rising health care costs. Ease the burden of out-of-pocket health costs, earn interest year after year, and enjoy tax free withdrawals on a Health Savings Account Plan from your Indianapolis Credit Union.

Curious about what an HSA is? According to the US. Department of the Treasury, “Health Savings Accounts (HSAs) were created by the Medicare bill signed by President Bush on December 8, 2003 and are designed to help individuals save for future qualified medical and retiree health expenses on a tax-free basis.” Read more on the US Dept of the Treasury website here.

Employers can save between 25 percent and 30 percent on health premiums by switching to an HSA. Those savings usually translate into lower premiums for employees – savings that employees can use to maximize their health savings accounts.

Financial Center offers the best Health Savings Account in the Indianapolis area. An HSA allows you to deposit funds to pay for current or future medical expenses. Funds used are tax free and remain in your account year after year. With numerous product options, zero fees, and the opportunity to earn dividends on your HSA, Financial Center is the right choice for your Health Savings Account. FCFCU has HSA options for Employers, Employees, and Insurance Brokers.

Open your HSA with FCFCU on-line or learn more at Health Savings Account FAQ.

Learn more about why more people are switching to credit union banking from their current banks.

Find your Relief in your Indianapolis Credit Union

Tuesday, March 2, 2010 by FCFCU Web Team

Many of you are realizing you're not tied down to your bank and are making a switch to your local credit union. Getting hit with high fees, hidden penalties, and extremely lousy interests rates are among the top reason for the swap.

What we're realizing is a lot of you didn't even consider a credit union as a viable alternative to your bank. Until now, that is. So, let's explain some of the most important distinctions between your current bank and your credit union down the street.

First, credit unions are member-owned. Essentially, if you have an account with a credit union than you are part owner of that institution. This results in you feeling less like a number and more like person. Credit unions are recognized as having some of the best customer service in the nation. Second, credit unions are non-for-profit. You current bank is a business. They seek a profit. Hence, those fees and charges we were discussing earlier. Credit unions are able to place any profits made back into the account holders as dividends. How's that for a stark difference? Thirdly, banks despise your local credit unions. Credit unions more concerted structure means being exempt from most federal and state taxes. Banks have spent a pretty penny trying to lobby credit unions into extinction.

But when it all comes down to it people trust credit unions more than banks. A recent study released in the Financial Trust Index reports a 58% approval rating for credit unions. In contrast, local banks scored a 53% and national banks scored 31%.

Bottom line? Consider looking into opening an account with your Indianapolis credit union. You Indianapolis Financial Center has competitive loan rates, online credit union banking, credit cards, advice and tips to improve your money literacy and how to manage your money.

Contact us by calling 317.916.7700 or visit the Finance Center Federal Credit Union website.

That Time, Again: Tax Season

Monday, February 15, 2010 by FCFCU Web Team

If you haven't already begun thinking about preparing your taxes, you better start soon. We all know April 15th comes faster than expected. Got questions?

Really understand the implications of your personal tax situation through our Indianapolis Credit Union's helpful seminar. Experienced professionals at your fingertips is just one of the benefits of membership at Finance Center Federal Credit Union (FCFCU). Key areas to discuss will be common deductions, tax planning, self-employed health care, and retirement planning.

At FCFCU, membership resources are abundant. Money education and literacy, and methods on how to manage your money are all available to members. Helpful seminars and interactive guides through Anytime Adviser, are some the financial services and membership education provided to you.

Learning about money couldn't be easier at FCFCU. Check out the 2010 schedule of free member seminars. Contact a Center or learn more online.

Businesses Seeking Loans

Monday, February 15, 2010 by FCFCU Web Team

More and more, small businesses are seeking loans from local credit unions rather than large banks. Why?

Ease, security, low rates, and fast reliable member-owner services from our Indianapolis Credit Union are among the answers. Since their development, local credit unions are infamous for their low rates on loans, but today they offer so much more. Personal loans, Home Equity, Home Loans, Auto Loans, and Recreational Loans are all available with membership at Financial Center.

According to a recent Washington Post story, the Credit Union National Association's chief economist has announced that credit unions' small-business loans are up from less than $10 billion at the end of 2003 to more than $35 billion last September.

Lawmakers are trying to change the 1998 loan cap from 12.25 percent to 25 percent, in a bill proposed to Congress in December. Experts say credit union loans will be as high as $10 billion in the first year if this cap is raised.

Consider a loan for whatever your need at our local Indianapolis credit union. Learn more about Indianapolis Loan Rates, Credit Union Banking, and FCFCU membership.

Questions on Credit Union Cards

Monday, February 15, 2010 by FCFCU Web Team

Recent news has indicated that rising fees, higher rates, and unfavorable terms from the major credit card companies is probable soon.

Sounds a bit extreme, but an article posted Friday explains the issuing of a legal, and looming interest rate of 79.9% on a First Premier Bank card. Unbelievable? Check it out.

This is just one example of what may be ahead for credit card owners. Many are stressing consumers be aware of all terms and conditions associated with their current and future cards concerning fees and inflated interest rates.

You may want to include in your research local credit union cards as a viable alternative. An article on Saturday by the AP answers many questions on why a local credit union card may be more beneficial than sticking with your current bank.

Consider becoming a member at Financial Center Indianapolis for great rates and virtually no fees on cards. Our local credit union boasts many financial services that the Indianapolis bank offers at more exceptional rates and better service.

Educate your self here, and consider credit union banking for all your banking needs. Learn more about the local Indianapolis Credit Union. Contact FCFCU.

Life Registry for Life

Friday, February 12, 2010 by FCFCU Web Team

The only registry you'll ever need. Literally.

It is such a hassle to keep the monetary gifts from friends and family straight when there are much more important things to be thinking about. Planning a wedding or graduation is hard enough, not to mention organizing the gifts from your loved ones. Finance Center Federal Credit Union of Indianapolis makes it easy with a one-stop shop Life Stages Registry ready to receive monetary gifts. Instead of going crazy over multiple registries at multiple stores, consolidate to Financial Center's convenient Life Stages Registry and cut the hassle out.

Whether it be a wedding, graduation or a new baby, Financial Center will organize and and maintain your registry with thoughtfulness and ease. Anyone can contribute their gifts through FCFCU's announcement card and confirmation program. Once the monetary gift is deposited you can access those funds at anytime, anywhere and for anything.

Key Features of the Life Stages Registry:

- Establish an account to receive monetary gifts.

- Provide registry announcements that explain the program to your guests.

- Provide confirmation of all those who contribute to your account.

- Provide financial education resources for young adults and couples.

- Guests may contribute at any Financial Center location, via telephone or mail.

View sample registry announcements from FCFCU for baby, graduation, or wedding. See any Financial Center Representative or call Member Services at 317.916.7700 or 800.473.2328 for further details.

Great News for Parents and Students on Overdrafts

Friday, February 12, 2010 by FCFCU Web Team

One of the biggest hurdles to overcome when learning about personal financial management is how to accurately monitor your expenses. For parents, checking and debit accounts offer a wonderful alternative to a credit card but many can be just as confusing to maintain. Written checks, debit cards, online purchases and ATM withdrawals can be hard to track effectively. Children, students and adults alike all are fearful of the consequence that comes with overdrawing your account. Large initial fees, daily fees and poor confidence can build up unnoticed and quickly.

Thankfully, Finance Center Federal Credit Union of Indianapolis, IN offers a solution. The en genius system, from your local credit union, is called FlexLine. In short, FlexLine is a flexible line of credit that offers you protection, convenience and privacy. Think of it as your back up plan, your "oops" factor, your hallelujah angel with wings. When you accidentally make a mathematical error in your checking, make too large of an ATM withdrawal, or get behind in your checkbook register, FlexLine is quietly waiting there on your behalf to cover up your mistake. When these accidents do occur, Financial Center will automatically transfer from your FlexLine in $25 installments. Designed as a solution to overdrafts, FlexLine will give you peace of mind and protection from nasty slip ups with privacy. When you realize your miscalculation, the credit is as easy to pay off as picking up the phone or turning on your computer.

Not only will it provide protection, you can also use this line of credit to make major purchases or everyday expenses. Essentially, FlexLine is a credit account with a specific purpose of your safety in mind.

With the confidence in national banks diminishing, FlexLine is just one more way Financial Center is a reliable alternative for all of your (or your kids') financial needs. FCFCU is not just another Indianapolis bank, it remains as an institution with valued financial offerings and the highest level of personal service excellence attainable in the market.

Find more useful information on overdraft protection and other services from FCFCU credit union banking here.

Two thirds of internet users reuse online banking credentials – research

Wednesday, February 3, 2010 by Greg Schmeisser

Incredible! Given the amount of press that is given to Phishing, trojans, and other means of online banking fraud, you might expect that customers would be sensitive to account security issues. It appears human nature overrides the considerations of security.

What can we learn from the research that we can apply to safe web surfing?

Create diversity in your online credentials. Do not reuse sensitive credentials across multiple sites and particularly with non-sensitive sites (e.g. using your online banking credentials for social sites or web mail).
Maintain diversity between sensitive credentials. Do not use the same password between multiple transactional sites (banking, shopping sites, etc.).
Protect both the User ID and the password for sensitive credentials.

Here are a few details from an article on this research:

"... 73 percent of bank customers use their online account password to access other websites, and that 47 percent use both their online banking user ID and password to login elsewhere on the internet."
"... this widespread reuse of online banking credentials is being exploited by criminals who have devised various methods to harvest login credentials from less secure sources, such as webmail and social network websites. Once acquired, these usernames and passwords are tested on financial services sites to commit fraud."
"... when a bank allows users to choose their own user ID, 65 percent of users share this ID with nonfinancial websites."
"... when a bank chooses the user ID for its customers, 42 percent of customers use the bank issued user ID with at least one other website."

Read the entire article here.

Learning About Money at your Indianapolis Credit Union

Friday, January 22, 2010 by Michael Hostetler

One of the most important services that our local credit union provides to our members is our free member education seminars. We have finalized our schedule for 2010 and there are some exciting opportunities for you to learn how to manage money better this year.

Learn tips to help save money on your tax return. Learn how the new rules surrounding credit cards will affect you. Learn how to save and invest your money in the new economy. Learn how to use QuickBooks more effectively in your small business.

Take advantage of these opportunities this year. It's just one benefit of being a member of our Indianapolis Credit Union.

Have a suggestion for a new seminar? Send us an eMail at marketing@fcfcu.com.

ABC News: Switch to Credit Union, Avoid Bank Fees

Monday, January 11, 2010 by Michael Hostetler

Recently ABC News reported on consumers moving their banking accounts to smaller community banks and their local credit union.

If your Indianapolis bank is raising its fees and treating you unfairly as a consumer, consider moving your accounts to an Indianapolis credit union. Financial Center has many of the same products and services you would find at your current bank, but we provide a superior customer experience which keeps your financial goals and needs at the top of our list of priorities.

If you're ready to switch banks, it's time to switch to an Indianapolis credit union.

Learn more about Financial Center.

Savings and Snowfall: It's All About Preparation

Wednesday, January 6, 2010 by Michael Hostetler

People across Indianapolis are anxiously awaiting the looming winter storm that is set to begin at some point later tonight and continue until Friday. This inevitably causes a rush at the local grocery store to buy milk, bread, and eggs (also known as "The French Toast Rush"). Salt trucks and snow plows hit the area roads to keep them in the best possible driving condition. Everyone does what they need to do to prepare for the snow before the storm hits.

The same thinking is true when it comes to achieving your savings goals. If you want to take a vacation in July, then you should start preparing for your trip now by saving money. Our Indianapolis Credit Union has many products that can help you save. For example, our Members' Choice Club Accounts allow you to select your own maturity date so that you can save money and withdraw it when you need it. Our local credit union also offers numerous share certificates and checking options.

Whether you're preparing for a blizzard or a trip to the beach, it's best to prepare. Learn more about our Indianapolis credit Union at www.fcfcu.com.

Study Finds that Credit Unions Offer Best Credit Cards

Friday, November 6, 2009 by Michael Hostetler

A recent article on ConsumerLoanWire.com referenced a new study by the Pew Charitable Trust which found that credit unions offer consumers the best credit cards in the market, and that bank offers were less attractive.

Here's what ConsumerLoanWire.com had to say:

"In comparing offers between large banks and credit unions the report found that credit cards issued by credit unions have fewer 'unfair or deceptive' practices. While the banking industry is undergoing many changes resulting in changing interest and fee structures, consumers should consider the safest option, which appears to come from a credit union."

It's time to move your credit card to our Indianapolis Credit Union. Learn more and apply.

Learn More About Online Credit Union Banking

Tuesday, November 3, 2009 by Michael Hostetler

The next member education seminar at our Indianapolis credit union focuses on online services.

Learn how to maximize your time and reduce your costs through the use of Financial Center's online services. Using both a classroom environment and hands on training, members will learn how to safely access their local credit union accounts via online options. Special focus will be given to a BillPayer demonstration.

This seminar will take place on Saturday, November 14th from 9 am to Noon at our Main Center location. To sign up, contact the marketing department at 317.916.6250 or send us an eMail at marketing@fcfcu.com.

We look forward to showing you how to manage money better through our online services.

Take Advantage of Bank on Indy at Indianapolis Bank Locations

Thursday, October 29, 2009 by Michael Hostetler

Our Indianapolis Credit Union is proud to be part of the Bank on Indy. This partnership between Indianapolis banks and credit unions aims to bring financial services to the 79,800 unbanked citizens in Marion County.

If you need tips on how to manage money better or if you need help learning about money, this program is right for you. The overall goal of Bank on Indy is to promote financial education in Indianapolis. If you've never had a savings or checking account, or if you've had trouble in the past and need a second chance, Bank on Indy is right for you. Indianapolis residents can take advantage of this program at any Financial Center location.

Here's what you will need to open your account.

1. A photo ID such as a driver's license, state ID card, or passport.

2. A second form of ID. A utility bill with your current address can be used.

3. Your Social Security number or your Individual Taxpayer Identification Number.

Get started with using financial services in Indianapolis. Open your Bank on Indy account today at our Indianapolis Credit Union.

Suze Orman - Credit Unions are More Responsible

Wednesday, October 14, 2009 by Michael Hostetler

Financial advisor, author, motivational speaker, and television host Suze Orman recently appeared on MSNBC's "Morning Joe". Among other topics revolving personal finance, Orman discussed how consumers should consider transferring balances from their credit cards to credit unions.

Orman noted, "Credit unions are being more responsible to their [members] than banks."

Visit msnbc.com for Breaking News, World News, and News about the Economy

Financial Center offers two great credit cards and we charge a low rate for your balance transfer. We offer a fixed rate product with credit lines up to $30,000. There is no annual fee, no cash advance fee, and you receive the same rate for purchases and cash advances.

To learn more about the credit cards that our Indianapolis credit union offers, visit our website and apply today.

Indiana Credit Unions Top Banks for Number of Locations

Friday, October 9, 2009 by Michael Hostetler

Credit unions in Indiana offer the largest branch network in the state for all financial institutions.

According to a Credit Union National Association report issued today, credit union members in Indiana have access to 201 shared branching locations across the state. These shared branching locations offer greater access than Chase, PNC/National City, and Fifth Third Banks.

Shared branching is a cooperative network of credit unions that have joined together and created shared service centers across Indiana and the United States. Financial Center members may perform transactions at any shared branching location.

Accessing our Indianapolis credit union is easy with numerous Indianapolis bank locations to choose from. Learn more about shared branching.

THE DAVE RAMSEY LIVE EVENT

Friday, October 2, 2009 by Eric Vermilion

Last night I attended the sold out Dave Ramsey live event. Ramsey has had a nationally televised radio show on 95.9 in Indianapolis for the past several years. Dave introduced his financial life history to the audience by telling about his personal bankruptcy when he was in his late 20’s. He spoke of creative financing that allowed him to build a house of cards with real estate. He explained, like all house of cards, the house folded and that he swore he would never get in that position again. Dave spoke of teaching our children the correct way to view personal finance and how to make proper college decisions. His daughter had wanted to go to the out of state Auburn University instead of the University of Tennessee. His conversation was a simple one…UT is $5,300 per year…and Auburn is $14,000 per year…What are you getting for your extra $9,000 per year? She went to UT.

After Ramsey’s bankruptcy he sought out the advice of “older rich people”. They told him that getting rich over a long period of time is the only way to get rich and stay rich and saving is the only way to get rich…you can’t spend your way rich. That is the basis for his business and how he teaches people to become wealthy…over a long period of time. He says that he offers the same financial advice as your grandmother, only he keeps his teeth in.

Working at the Credit Union gives us all a chance to help improve the financial well being of our members. One of the sites that Dave Ramsey recommends is www.checkingfinder.com. If you go to the site and put in an Indianapolis zip code, then you will get Finance Center Federal Credit Union as the number one result. Several of my new members have mentioned this site as the reason for coming to open a new account. They were looking for a financial institution that cared about them and would take care of all of their financial needs. We strive to help people build wealth and increase the financial well being of our members on a daily basis. Come see us!