Latest News https://wwfcu.org/media/?p=2922 https://wwfcu.org/media/blog/can-being-thankful-help-your-finances/ Financial Guidance Lifestyle grateful productivity richer thankful Can Being Thankful Help Your Finances? By now you’ve probably heard that keeping a gratitude journal can help make you happier. But can being grateful/thankful help make you richer? Perhaps. Increased Productivity Boosting your daily gratitude can actually help boost your bottom line due to increased productivity. It turns out the happier you are, the chances are you’re more inclined to Thu, 21 Nov 2019 11:48:49 Z Amy Neale <p>By now you’ve probably heard that keeping a gratitude journal can help make you happier. But can being grateful/thankful help make you richer? Perhaps.</p> <ul> <li><strong>Increased Productivity</strong><br /> Boosting your daily gratitude can actually help boost your bottom line due to increased productivity. It turns out the happier you are, the chances are you’re more inclined to get work done. Psychologist Shawn Achor did a study that found those who practice positive thinking improve productivity (37%), are more likely to be promoted (40%) and can increase sales (37%).</li> <li><strong>Work Happy<br /> </strong>Not only do people want to work more with people who are happy and grateful, customers and clients also want to work with positive people. Think about the last time you had a happy salesperson or server wait on you. Didn’t that increase the likelihood that you’d return to that store or restaurant? And employers/employees would rather work with and for grateful people. Nobody likes to collaborate with a complainer!</li> <li><strong>Become Less Material</strong><br /> If you spend your days thinking more about how lucky your life is the way it is versus focusing on what you don’t have, you’ll probably spend less money on material things. Without gratitude, it doesn’t matter what you have – you’ll never be satisfied.</li> <li><strong>Grateful Teens</strong><br /> Studies have shown that grateful people tend to earn more. In fact, a Business Insider study discovered that “very happy” students aged 16-18 had greater life satisfaction by age 22 and incomes that were 10% higher than average when they hit age 29.</li> <li><strong>Avoid Instant Gratification<br /> </strong>When you’re grateful, you’re more likely to avoid the need for instant gratification. A study in Psychological Science found that those who show a higher level of gratitude were more likely to choose to receive $80 in 30 days rather than get $54 immediately. More than half of Americans say they’ve spent $100 or more on impulse purchases. Not to mention, waiting and saving for a purchase rather than buying it today on your credit card will save you in interest.</li> </ul> <p><strong>Tips to Become More Thankful</strong></p> <ol> <li>Keep a grateful journal, writing down three things each day you’re thankful for.</li> <li>Look in the mirror each morning and state three things you like about yourself. Positive affirmations work!</li> <li>Thank your family and coworkers more often, even for the little things. It will make both your home life and your work environment become more positive.</li> <li>Become more mindful and live in the moment whenever possible. Focusing on the here and now can shift your focus from what you don’t have to what you do have.</li> <li>Practice empathy with those around you. Make a habit of putting yourself in the other person’s shoes. It will not only boost understanding but gratefulness as well.</li> <li>Use technology for good. Instead of wasting time on your smartphone comparing yourself to others on social media, use your phone as a tool toward thankfulness. Here are a few suggestions of <a href="https://positiveroutines.com/track-your-happiness-apps/">apps that can help</a>.</li> </ol> <p>We know we’re thankful for the support of our WWFCU members – we wouldn’t be here without you!</p> 2019-11-21 11:48 +00:00 2019-11-21 05:48 -06:00 https://wwfcu.org/media/?p=2970 https://wwfcu.org/media/blog/holiday-shopping-fraud-alert/ Fraud Holidays online shopping Apple Pay email scam virus Holiday Shopping Fraud Alert ‘Tis the season for not only family gatherings, good food and holiday shopping – it’s also the season for fraud. With all of the stress that comes with the holidays, it’s easy to let your guard down. To help protect our members, WWFCU is offering these scam alerts: E-skimming Scammers find weak links on online Thu, 14 Nov 2019 20:08:52 Z Amy Neale <p>‘Tis the season for not only family gatherings, good food and holiday shopping – it’s also the season for fraud. With all of the stress that comes with the holidays, it’s easy to let your guard down. To help protect our members, WWFCU is offering these scam alerts:</p> <ul> <li><strong>E-skimming</strong><br /> Scammers find weak links on online shopping websites and take advantage of them. You may be unwittingly redirected to a malicious website where a skimming code can capture your information from the checkout page. Pay attention to the web addresses/URLs when you’re online shopping to make sure you’re shopping where you should be.</li> <li><strong>Social Media Scams</strong><br /> Online advertising is everywhere on Facebook, Instagram and other social media sites these days. Some scammers will set up a fake online store and advertise it using social media so they can get your payment information. Again, keep an eye on the website addresses when you shop.</li> <li><strong>Porch Pirates</strong><br /> The holidays bring more online shopping and more packages delivered to your door. This attracts porch pirates who go through neighborhoods and steal the shipments. Beat them at their own game and either get a surveillance doorbell or, better yet, get your gifts shipped to work instead.</li> <li><strong>Shipment Update Scams</strong><br /> Fraudsters will send you a fake email notifying you of a shipment delivery failure or requesting updated shipping information. While it may look like it’s coming from the original sender, it will have a link with malware. Be sure to always check the sender’s email address on suspicious emails.</li> <li><strong>Fake Charities</strong><br /> The holidays are a popular time to give back – and scammers know this. If you get an email from a charity, check the sender’s email address and the website address to see if they’re legitimate.</li> </ul> <h5><strong>Fighting Fraud</strong></h5> <p>Fight holiday fraud with these tips:</p> <ul> <li>Set up transaction alerts with apps like <a href="https://www.wwfcu.org/member-benefits/other-benefits/cardnav-by-co-op">CardNav</a> to monitor for unauthorized transactions.</li> <li>Think before you click on emails, attachments and links. Always check the email or website address before clicking.</li> <li>Avoid web forms when shopping online. Use stored payment information when possible such as Amazon Pay, PayPal or <a href="https://wwfcu.org/media/blog/apple-pay-now-here-for-wwfcu-visa/">Apple Pay</a>.</li> <li>Be sure to have the latest antivirus, anti-spyware and firewalls for your home computers and devices.</li> <li>Only use well-known websites for online shopping.</li> <li>Type in the website addresses instead of clicking ad links.</li> <li>Look for skimming devices when using ATMs or gas pumps. If fueling up, pick a pump closest to the cashier.</li> <li>Review and monitor your accounts daily for discrepancies and report them immediately if you find any.</li> </ul> <p><strong>If you encounter any fraud issues with your WWFCU credit or debit cards, please call (888) 241-2510. You can also reach a WWFCU Member Service Representative at (734) 721-5700.</strong></p> 2019-11-14 20:08 +00:00 2019-11-14 14:08 -06:00 https://wwfcu.org/media/?p=2919 https://wwfcu.org/media/blog/which-to-choose-credit-or-debit/ Credit Cards Debit Card build credit credit card debit card Which to Choose – Credit or Debit? Credit or debit? Most of us are asked that question several times a week when using our debit card. But do you truly know what the difference is and which is the best choice for you? Choosing Debit You use your PIN for purchases It’s an offline transaction when you check out There are lower Wed, 13 Nov 2019 11:45:35 Z Amy Neale <p>Credit or debit? Most of us are asked that question several times a week when using our debit card. But do you truly know what the difference is and which is the best choice for you?</p> <p><strong>Choosing Debit</strong></p> <ul> <li>You use your PIN for purchases</li> <li>It’s an offline transaction when you check out</li> <li>There are lower processing fees for the merchant</li> <li>The transaction happens electronically and usually right away, or within the same business day</li> <li>You’re able to get cash back at many merchants</li> </ul> <p><strong>Choosing Credit</strong></p> <ul> <li>You sign for your purchases</li> <li>It’s an online transaction when you check out</li> <li>Merchants are usually charged more in fees than if you chose debit</li> <li>It’s processed like an electronic funds transfer (EFT) through credit card networks like STAR or NYCE</li> <li>You’re not borrowing money as if you were using a credit card, the money is withdrawn directly out of your checking account</li> <li>Transactions can take several days to show up in your checking account</li> </ul> <p><strong>A Few Things to Keep in Mind</strong></p> <p>While the choice between debit and credit may seem pretty straightforward, there are a few things to consider before choosing.</p> <ul> <li><strong>Account holds</strong> – Places like gas stations will put a hold for $50 to $100 before you fuel up since they don’t know how much gas you’re going to buy when you swipe. This amount could be on hold for several days.</li> <li><strong>Protection </strong>– Debit cards don’t have the same amount of protection as a credit card. You’re at more personal risk when you use a debit card, whether you select credit or debit when you shop. This is because fraudsters will be able to take money directly out of your checking account, which could leave you short. However, at WWFCU, your debit and credit cards are both protected if breached.</li> <li><strong>Build Credit </strong>– Unlike credit cards, using your debit card doesn’t help build your credit. No matter how you use it, a debit card just gives you access to the money you already have without giving you additional credit. However, overspending using your debit card could negatively impact your credit score and lead to overdrafts in your account.</li> </ul> <p><strong>Which to Choose?</strong></p> <p>All things considered, it makes no difference which one you pick. Just keep in mind you’ll have longer holds when you choose credit. However, credit unions and banks often offer rewards for using your debit card as credit.</p> <p><strong>This includes WWFCU’s Mastercard Priceless Surprises Sweepstakes where you can get entered to win trips or gift cards. </strong><a href="https://www.wwfcu.org/products-services/visa-cards/something-priceless"><strong>Click here to learn more</strong></a><strong>. For more information about WWFCU’s debit card, </strong><a href="https://www.wwfcu.org/products-services/checking/debit-atm-cards"><strong>click here</strong></a><strong>. </strong></p> 2019-11-13 11:45 +00:00 2019-11-13 05:45 -06:00 https://wwfcu.org/media/?p=2911 https://wwfcu.org/media/blog/whens-the-best-time-to-buy-a-car/ Car Loans Cars auto loan Autosmart car loan New Car When’s the Best Time to Buy a Car? So, you’ve been scrimping and saving to buy a new car. But is now the best time for the best deal? Before you spend more of that hard-earned money than you should, we’ve got some tips on when is the ideal time to buy a car. No Weekends While the weekends might be the easiest Thu, 07 Nov 2019 11:44:54 Z Amy Neale <p>So, you’ve been scrimping and saving to buy a new car. But is now the best time for the best deal? Before you spend more of that hard-earned money than you should, we’ve got some tips on when is the ideal time to buy a car.</p> <p><strong>No Weekends</strong></p> <p>While the weekends might be the easiest time to hit the car lots, it’s not the best time to make a deal. Busy weekends aren’t the right time to negotiate. Mondays – Wednesdays are quieter, which makes them the best days of the week to buy a car.</p> <p><strong>Late in the Month/Quarter/Year</strong></p> <p>Car salespeople usually have sales quotas with deadlines that fall at the end of the month, quarter or year. It’s deadlines like these that will help motivate your salesperson to negotiate a better deal with you. Just keep in mind that quota deadlines aren’t always the absolute end of the month, some fall a few days before. You might want to visit the dealership around the 26<sup>th</sup> to 28<sup>th</sup>.</p> <p><strong>Holiday Sales</strong></p> <p>From shopping for furniture and televisions to cars, the holidays are a great time to save money. Retailers and car dealerships alike use holidays as an opportunity to offer sales and attract more customers. Plus, car manufacturers may offer decent rebates at these times. But not all holiday sales are created equal. Christmas, July 4<sup>th</sup> and Memorial Day and Labor Day weekends are prime times for finding a discount. However, shopping on New Year’s Eve is one of the best days of the year to buy a car.</p> <p><strong>New Model Time</strong></p> <p>There’s probably no better time to buy a new car than when dealerships are looking to clear out old models to make room for the new. As long as you’re in the market for the model year that’s going out, you could find some sizeable incentives waiting for you.</p> <p><strong>Whatever your plans are for buying a new car, we’d like you to make WWFCU part of the process. Not only do we offer </strong><a href="https://www.wwfcu.org/products-services/loans/vehicle-loans"><strong>auto loans</strong></a><strong> for new or used cars at </strong><a href="https://www.wwfcu.org/products-services/loans/our-rates"><strong>great rates</strong></a><strong>, we also offer </strong><a href="https://wwfcu.cudlautosmart.com/"><strong>AutoSmart</strong></a><strong>, which lets you research and shop for a vehicle. Once you get your new car, WWFCU also offers </strong><a href="https://www.trustage.com/auto-home/save-on-car-insurance?orgIdentifier=000000007401&amp;marketingCampaignCode=ICTBH14B&amp;utm_source=000000007401&amp;utm_medium=CULK_Link&amp;utm_campaign=ICTBH14B&amp;utm_content=CB000158"><strong>auto insurance at a discount through TruStage</strong></a><strong>. </strong></p> 2019-11-07 11:44 +00:00 2019-11-07 05:44 -06:00 https://wwfcu.org/media/?p=2904 https://wwfcu.org/media/blog/saving-doesnt-need-to-be-scary/ Savings auto loan emergency fund Mortgage save money savings Saving Doesn’t Need to Be Scary Saving money. It’s something we all mean to do, but never seem to get around to. For some, it’s the inconvenience of moving money around in their accounts. To others, it’s the panic that if they save a percentage of their income, they won’t have enough money to live off of. The good news is Wed, 30 Oct 2019 10:02:27 Z Amy Neale <p>Saving money. It’s something we all mean to do, but never seem to get around to. For some, it’s the inconvenience of moving money around in their accounts. To others, it’s the panic that if they save a percentage of their income, they won’t have enough money to live off of.</p> <p>The good news is that saving money doesn’t need to be difficult or scary. To make it less frightening, we thought we’d share some good reasons to save and some tips to make it simpler to save.</p> <h6><strong>Why You Should Save Money</strong></h6> <p>Beyond the adage of “saving money for a rainy day,” there are several excellent reasons you should start saving today.</p> <ul> <li><strong>Buy a Car</strong> – Sure, you can get an auto loan to buy your next vehicle. But you have much more buying power if you can have a sizeable down payment. Plus, it’ll help lower your monthly loan payments if you put more money down when you buy.</li> <li><strong>Buy a House</strong> – The same rules apply for buying a new home. The more money you save to use as a down payment, the more house you’ll be able to afford. Or stay closer to your house budget and put more money down to lower those monthly payments.</li> <li><strong>Save up to 50%</strong><br /> Some experts say if you save money to purchase items rather than charge them on your credit card, you’ll be saving up to 50%. That’s because, despite our best intentions, most of us don’t pay off all our credit card charges each month. Be patient and save for bigger purchases and avoid costly interest charges.</li> <li><strong>Financial Independence</strong><br /> We’re not saying putting away 5-10% of your pay will make you rich, but it could make you more financially independent. Wouldn’t it be nice to be able to take that vacation when you want or buy a new dishwasher if the old one conks out? Saving will get you there.</li> <li><strong>In Case of Emergency</strong><br /> We’ve talked about having an emergency fund in other blogs, but they also have a place here. Try to put away the equivalent of one to two months’ salary into an emergency savings account. Don’t touch it unless it’s a real emergency. That way it’ll be there if you face unexpected medical expenses or lose your job.</li> </ul> <h6><strong>Easy Ways to Save</strong></h6> <p>The easiest and most effective way to save money is to make it automatic. Here are a few tips how:</p> <ul> <li><strong>Direct Deposit</strong><br /> Does your place of employment offer direct deposit? If so, you probably already use it to deposit your pay into your checking account. Speak to your HR department to see if you’re able to split your paycheck into two or more accounts. If the answer is yes, then set up your direct deposit to put 5-10% (or whatever amount works for you) into savings account. <a href="https://www.wwfcu.org/products-services/checking/direct-deposit">Click here to learn more about direct deposit at WWFCU</a>.</li> <li><strong>Transfer Funds</strong><br /> If you use WWFCU online banking, you can set up a recurring transfer from one account to another. Once you log on, click on Transfers and then select what account you’re transferring to and from and the amount. In the Frequency dropdown menu, select how often you’d like to make this transfer and then click the Submit button. Voila, you have a recurring transfer to your savings account!</li> </ul> <p><strong>See, saving isn’t scary at all, is it? WWFCU wants to make it easy for you to save and reach your financial goals. If you have questions or want to learn more, call (734) 721-5700 or </strong><a href="https://www.wwfcu.org/about-us/get-in-touch/atms-locations-hours"><strong>stop by our branch</strong></a><strong> to speak to a member service specialist. </strong></p> <p>&nbsp;</p> <p>&nbsp;</p> 2019-10-30 10:02 +00:00 2019-10-30 05:02 -05:00 https://wwfcu.org/media/?p=2901 https://wwfcu.org/media/blog/what-is-a-christmas-holiday-account/ Christmas Account Christmas account holidays savings What is a Christmas/Holiday Account? Christmas accounts first began in the early 1900s, created to help credit union members be able to afford holiday shopping. Today, they’re still going strong with nearly three-quarters of U.S. credit unions offering them. How many times have you set money aside in your checking or regular savings account for the holidays, only to have Thu, 24 Oct 2019 09:54:42 Z Amy Neale <p>Christmas accounts first began in the early 1900s, created to help credit union members be able to afford holiday shopping. Today, they’re still going strong with nearly three-quarters of U.S. credit unions offering them.</p> <p>How many times have you set money aside in your checking or regular savings account for the holidays, only to have it disappear come bill time? It’s effortless to spend money if we have easy access to it. That’s where a Christmas or holiday account comes in.</p> <p>A Christmas/holiday account lets you set aside money in a separate savings account throughout the year to help you pay for your holiday entertaining and gifts. Not only are you socking away precious funds for the holidays, you’re earning interest while you do it!</p> <p><strong>WWFCU Christmas Account</strong></p> <p>At WWFCU, our Christmas account is set up like a normal savings account. The only difference is that about two months before Christmas, the money is then automatically transferred into your regular WWFCU savings account. However, you always have the option to just keep in in the Christmas account instead. Also, your funds are always available for you to withdraw all year long in case you need it sooner.</p> <p><strong>Whether you want to set up a WWFCU Christmas account for this holiday season or start saving for next year’s, it’s easy to open one. Just </strong><a href="https://www.wwfcu.org/about-us/get-in-touch/atms-locations-hours"><strong>stop by our branch</strong></a><strong> and speak to a member service specialist.</strong></p> 2019-10-24 09:54 +00:00 2019-10-24 04:54 -05:00 https://wwfcu.org/media/?p=2898 https://wwfcu.org/media/blog/celebrating-international-credit-union-day-2/ International Credit Union Day credit unions ICU Day Celebrating International Credit Union Day Happy International Credit Union Day (ICU Day)! Thanks to the Credit Union National Association, the third Thursday in October has been set aside to celebrate U.S. credit unions since 1948. WWFCU Celebrates ICU Day ICU Day gives us the opportunity to celebrate the credit union movement and to thank our community. On October 17, 2019, Thu, 17 Oct 2019 07:54:04 Z Amy Neale <p>Happy International Credit Union Day (ICU Day)! Thanks to the Credit Union National Association, the third Thursday in October has been set aside to celebrate U.S. credit unions since 1948.</p> <p><strong>WWFCU Celebrates ICU Day</strong></p> <p>ICU Day gives us the opportunity to celebrate the credit union movement and to thank our community. On October 17, 2019, stop by WWFCU to help us celebrate with these FREE events:</p> <ul> <li>9:30 a.m. – 11:00 a.m. Coffee and donuts</li> <li>Noon – 3:00 p.m. Hot dogs and pop</li> <li>3:00 – 6:00 p.m. Clowns, face painting and balloons <em>(for youngsters)</em></li> </ul> <p>Throughout the day, members of all ages will receive goody bags filled with fun giveaways.</p> <p><strong>Why Belong to a Credit Union?</strong></p> <p>While credit unions are a lot like banks, there are a few very important differences. Unlike banks who operate as for-profit businesses, credit unions are not-for-profit and gives profits back to their members in the form of better loan rates and lower fees.</p> <p>Credit unions also have strong ties to their communities. WWFCU supports local businesses and nonprofits as well as provides free financial education and counseling to its members. We also offer valuable discounts on insurance, cell service, theme park tickets, tax prep software and more.</p> <p><strong>Stop by October 17 to help us celebrate ICU Day and being a WWFCU member!</strong></p> 2019-10-17 07:54 +00:00 2019-10-17 02:54 -05:00 https://wwfcu.org/media/?p=2896 https://wwfcu.org/media/blog/twelve-easy-ways-to-save-money/ Credit Cards Savings save money savings Twelve Easy Ways to Save Money In honor of National Savings Day on October 12, we thought we’d give you some realistic ways to save money. If you’re like most, you have the best intentions when it comes to saving, but have a hard time following through. That’s why we have twelve easy ways to save: Credit Cards Pay your cards Thu, 10 Oct 2019 09:47:45 Z Amy Neale <p>In honor of National Savings Day on October 12, we thought we’d give you some realistic ways to save money. If you’re like most, you have the best intentions when it comes to saving, but have a hard time following through. That’s why we have twelve easy ways to save:</p> <p><strong>Credit Cards</strong></p> <ol> <li>Pay your cards off each month. Impossible? Then pay off the one with the highest rate first.</li> <li>Did you know credit card companies are often willing to negotiate your interest rate? If you’ve got decent credit and have been making your payments on time, give them a call and see if they’ll reduce your rate.</li> <li>In case you were unsuccessful at getting your rate reduced, you may want to transfer your balance to a card that has a 0% introductory rate or to a <a href="https://www.wwfcu.org/borrow/visa-card">credit union credit card</a>. Credit unions are known to have some of the lowest rates around</li> </ol> <p><strong>Shopping</strong></p> <ol start="4"> <li>Buying things on sale isn’t going to always save you money. Think of all the times you purchased something you didn’t need, just because it was on sale. Next time, don’t.</li> <li>Cheaper isn’t always better. Cheaper often means poorer quality than a more costly option. You’re not saving any money if you have to replace the item sooner than expected.</li> <li>Think used. Whether it’s clothes, furniture or household goods, your local thrift or consignment store or Salvation Army/Goodwill should become your destination, not Amazon. You can find gently used items at a fraction of the cost if they were new.</li> </ol> <p><strong>Home</strong></p> <ol start="7"> <li>Think of cutting the cable and go with streaming services instead. This could save you around $1,000 per year. Not ready to cut cable? Call your cable company and see if they have any discounts to help bring your bill down. This works with your cell phone service as well.</li> <li>Don’t ignore your major appliances or car. Replace parts when needed and make sure you get your oil changed on your vehicle regularly. Maintaining these items is way cheaper than having to buy new ones.</li> <li>Get smart when it comes to grocery shopping. Make a list and stick to it. Buy generic brands when possible. Cook more and go out to restaurants less.</li> </ol> <p><strong>Entertainment</strong></p> <ol start="10"> <li>Find free events to go to whenever possible. Check out Facebook events or local websites and newsletters to see what’s going on near you.</li> <li>Forget the gym membership. Get some weights or check out some exercise videos on YouTube. You can also run/walk outside for free.</li> <li>Go to the library. Not only can you check out the latest best sellers, but most libraries today have e-books, DVDs, CDs and even video games. They also have many fun, free events you might want to check out.</li> </ol> <p><strong>Have your own ways to save money? Let us know on </strong><a href="https://www.facebook.com/WayneWestlandFederalCreditUnion/"><strong>Facebook</strong></a><strong> or </strong><a href="https://www.linkedin.com/company/10242815/admin/"><strong>Twitter</strong></a><strong>. Happy saving!</strong></p> 2019-10-10 09:47 +00:00 2019-10-10 04:47 -05:00 https://wwfcu.org/media/?p=2893 https://wwfcu.org/media/blog/do-you-need-life-insurance/ Insurance insurance life insurance Do You Need Life Insurance? Oftentimes, life insurance is one of those things we put off getting. If you have people relying or depending on you, chances are you should think about getting a policy. Types of Insurance If you decide to take the plunge, you’ll need to decide what type of life insurance policy you need. There are two Thu, 03 Oct 2019 09:46:59 Z Amy Neale <p>Oftentimes, life insurance is one of those things we put off getting. If you have people relying or depending on you, chances are you should think about getting a policy.</p> <p><strong>Types of Insurance</strong></p> <p>If you decide to take the plunge, you’ll need to decide what type of life insurance policy you need. There are two main types of life insurance: term life and whole life.</p> <p><strong>Term Life Insurance</strong></p> <p>When you buy term life insurance, your policy will be for a set period of time from five to 30 years. You make payments on it until it expires. Term life insurance is usually the most affordable option and the premiums depend on your health and the amount of coverage you choose. If you’re young and healthy, this is definitely an inexpensive choice.</p> <p><strong>Whole Life Insurance</strong></p> <p>Whole life insurance is pretty much what it says, it covers you for your lifetime. The rate and premiums are usually locked in when you buy it, so you know what you’re paying. A major benefit of this type of insurance is that it gains value over the years so you could actually borrow against it or withdraw money from it if needed. The main downside to whole life insurance is that it can be expensive compared to term life.</p> <h6><strong>Which Type of Insurance is Right for Me?</strong></h6> <p>We thought we’d break down what life insurance policies are best for different types of people:</p> <ul> <li><strong>Married, No Children<br /> </strong>Just because you don’t have children, it doesn’t mean you shouldn’t get life insurance. The surviving spouse will probably need help paying off debt and funeral costs. Term life insurance is a great option.</li> <li><strong>Married with Children<br /> </strong>This one is a bit of a no-brainer. If you have children and a spouse, you want to make sure expenses are covered if one parent passes away. If your children are older, you might want to make sure you have a solid inheritance in place. Again, term life could solve most of your problems.</li> <li><strong>Single Parent<br /> </strong>Like above, if you have dependents, life insurance will cover important expenses when you die. It could also mean an inheritance if that’s in your plans. Also, if you make child support payments to your ex, a policy could help cover those payments.</li> <li><strong>Retiree<br /> </strong>Hopefully if you’ve reached retirement age, you’ve been covered by a life insurance policy for years, if not decades. If you have whole life insurance, you could be using some of the funds to maintain the lifestyle you’ve worked so hard to achieve.</li> <li><strong>Small Business Owner<br /> </strong>You should definitely have life insurance if you have both loved ones and business to protect. There are several ways to set up a policy to protect not only your business, but any business partners you may have. Speak to your financial advisor to determine what’s best for you, your family and your business.</li> </ul> <p><strong>Whichever life insurance policy you decide is right for you, you’re in luck! WWFCU has teamed with TruStage Insurance to get you discounted prices. </strong><a href="https://www.trustage.com/life?orgIdentifier=000000007401&amp;marketingCampaignCode=BCLGLXBLB4&amp;utm_source=000000007401&amp;utm_medium=CULK_Link&amp;utm_campaign=BCLGLXBLB4&amp;utm_content=CB000159"><strong>Click here to learn more</strong></a><strong> or call (734) 721-5700 and speak to a Member Service Specialist. </strong></p> 2019-10-03 09:46 +00:00 2019-10-03 04:46 -05:00 https://wwfcu.org/media/?p=2883 https://wwfcu.org/media/blog/tips-to-help-protect-yourself-from-fraud/ ATM Credit Cards Debit Card Fraud Identity Theft atm debit cards Tips to Help Protect Yourself from Fraud You wouldn’t leave your cash or credit cards out in public for anyone to use, would you? These days you need to protect yourself and your money from thieves and hackers in all you do. The smarter technology becomes, the savvier thieves are becoming as well. The amount of credit card numbers being exposed to Fri, 27 Sep 2019 12:41:17 Z Amy Neale <p>You wouldn’t leave your cash or credit cards out in public for anyone to use, would you? These days you need to protect yourself and your money from thieves and hackers in all you do. The smarter technology becomes, the savvier thieves are becoming as well.</p> <p>The amount of credit card numbers being exposed to fraud totaled $14.2 million in 2017. That’s an astounding 88% increase from the year before. Also worth noting, Michigan has the highest per capita rate of reported identity theft in the nation.</p> <p>While these figures can seem overwhelming, don’t let them discourage you from being proactive about protecting yourself from fraud. We’ll walk you through two popular types of fraud and what you can do to safeguard your identity and your money.</p> <h6><strong>ATM Skimming</strong></h6> <p>ATM skimming occurs when fraudsters place a device on the card reader part of an ATM or other card machines like at a gas station. The skimmer will record your credit card information while a small nearby camera will record your PIN.</p> <p><strong>How to Protect Yourself</strong></p> <ul> <li><strong>Inspect the ATM or card machine.</strong> The skimmer will usually vary in color from the actual machine. You can also jiggle the card reader area to see if it’s part of the machine.</li> <li><strong>Hide your PIN. </strong>Cover the keypad when entering your PIN. Or pretend to hit extra buttons in addition to your PIN to throw thieves off your actual code. It may seem like you’re being overly cautious, but you’re better off playing it safe.</li> <li><strong>Check your account.</strong> Whether you review your monthly statements or go online and check your account, do so frequently and thoroughly. Nobody knows your purchases better than you do, meaning you’ll be able to find fraudulent charges that much sooner. Keep in mind, you have 60 days from your last statement to dispute any charges.</li> <li><strong>Use technology to help.</strong> You can set up e-alerts using WWFCU’s online banking. E-Alerts can be set up using any dollar amount you choose. For example, if you set it to $50, you’ll get a message whenever there’s a charge for $50 or more. WWFCU also offers <a href="https://www.wwfcu.org/member-benefits/other-benefits/cardnav-by-co-op">CardNav</a> which lets you manage how, when and where your card is used.</li> <li><strong>Be picky about your ATMs.</strong> Although it’s tempting to use ATMs at restaurants and bars or very public places like concerts or football games – don’t do it! These types of ATMs can be the most attractive to fraudsters wanting to steal your credit card information.</li> </ul> <h6><strong>Compromised Cards</strong></h6> <p>A compromised card is one that’s at risk of being used fraudulently. This potential fraud can be due to computer theft, network intrusion and other suspicious activity such as all of the recent big store security breaches. It’s important to keep in mind that just because your account hasn’t been compromised yet due to one of these events, it doesn’t mean the fraudsters won’t eventually use it.</p> <p><strong>How to Protect Yourself</strong></p> <ul> <li><strong>Shop using trusted websites.</strong> Sure, there are no-name online stores out there that have great prices on what you need, but don’t fall for it. Stick with larger, well-known online retailers when shopping online.</li> <li><strong>Monitor accounts.</strong> As with skimmers, keeping a close watch to your accounts online or your monthly statements will help you spot fraudulent changes.</li> <li><strong>Replace compromised cards.</strong> If you find out you’ve been part of a scam or larger security breach, don’t wait for the fraudsters to find you. Take action and replace your card ASAP.</li> <li><strong>Shred documents.</strong> There’s a reason paper shredders exist – to help you protect valuable information like account numbers, etc. Shred any sensitive documents so they won’t get in the hands of thieves.</li> <li><strong>Review all receipts before signing.</strong> Periodically, retailers and restaurants will have a bad apple. Before signing a receipt, review it to make sure the correct items and totals are on it.</li> <li><strong>Create strong passwords.</strong> We know, you already have too many passwords as it is. Don’t let that stop you from creating complex passwords. Also, don’t reuse passwords between various accounts, it’s basically opening a door to identity theft.</li> </ul> <p>Don’t let the bad guys get your money. You’ve worked hard for it, so work just as hard to protect it. We promise, you’ll be happy you did!</p> <p><strong>WWFCU members can get FREE ID theft protection. </strong><a href="https://www.wwfcu.org/member-benefits/free-member-services/free-identity-theft-protection"><strong>Click here to find out how</strong></a><strong> or call a Member Service Specialist at 734-721-5700.</strong></p> 2019-09-27 12:41 +00:00 2019-09-27 07:41 -05:00