Auto Loan Loans Savings

WWFCU DRASTICALLY CUTS LOAN RATES BY ALMOST 50%!

December 28, 2011

(Westland, Michigan) Wayne Westland Federal Credit Union is pleased to announce the largest reduction in loan rates in their 57-year history.  The Management team at WWFCU approved a reduction of nearly 50% of their current secured rates.   This major reduction was a move directed at the current economic conditions, so the local community can take advantage of a loan at an unbelievable rate.

Comments by WWFCU Management & Staff…  “We expect our loan traffic to grow by ten times the normal rate…  It is recommended that current and potential members lock in their new loan rate before these rates are discontinued…”

Please contact the Member Service Department as soon as possible at 734.721.5700.

Approved by:
Thelma Dasho, CEO

Home Banking

What Are E-Statements and Their Benefits?

December 15, 2011

Online banking has become very popular in the past few years, with customers enjoying the convenience and security of 24-hour access to their money from home. When it comes to communications with their Credit Union, however, many people still receive paper statements in their mailbox each month. Paper statements provide the comfort of familiarity, but electronically provided statements, or E-Statements, have plenty of advantages to receive a recommendation.

E-Statements are very similar in content to paper statements; they’re simply located online instead of coming to your mailbox. You’ll receive an email to let you know when a statement is ready. Then you can log in to the secure server with your username and password to view the statement. The Credit Union stores your previous statements for you (up to 36 months), and if you ever need a copy, you can save or print a statement from your own computer. The E-Statement service is totally free and can be set up in a matter of minutes.

There are many reasons to use E-Statements. E-Statements do not cost anything, so they save a Michigan Credit Union like WWFCU money on operating costs. Not only does that savings benefit customers, it reduces the use of paper and gas, making it environmentally friendly. E-Statements eliminate paper clutter in your home office, since there’s no need to collect and save paper statements when everything can be stored on your computer or the past 36 months of statements can be viewed online.

The E-Statement system is secure and password – protected, which guards against hacking and totally eliminates the risk of identity thieves intercepting sensitive documents at your mailbox. Most importantly, E-Statements are fast, convenient, and easy to set up and use. Visit our online services to learn more, and get signed up today.

Direct Deposit

The Benefits of Direct Deposit

December 8, 2011

Most people are familiar with the idea of direct deposit. You fill out a little form with your employer, perhaps attach a voided check, and a few weeks later, your paycheck stops coming in the mail and begins showing up directly in your account. It’s a simple little idea, but it has a lot of benefits that you should keep in mind when deciding how to receive your paychecks.

First, and most important to many people, direct deposit is fast. Most companies do all their payroll at one time, issuing all the checks the same day. With direct deposit, that means your money enters your account the next business day, while with paper checks, the check arrives whenever the mail can get it there. Combining direct deposit with online banking means that you have instantaneous access to your money, without ever having to go to the Credit Union.

Second, direct deposit cuts down on the use of paper and physical transportation in getting your check to you. This is environmentally friendly, and that’s great, but it has other advantages, too. If you’ve ever had a check get lost in the mail, you know how frustrating and time consuming it is to try and trace its progress, all the while wondering when you’re going to get paid. Moreover, a huge component of identity theft involves thieves who get access to your banking information by getting into your mail or by digging through your trash. Direct deposit cuts down drastically on those theft opportunities.

Once you have direct deposit set up and working, you’re well on the way to getting better control of your financial future!

Home Banking

How Can Mobile Banking Benefit You?

December 1, 2011

With the growing presence of the internet in everyday life, it’s natural that more people every year are learning to use online banking. Being able to access your Credit Union information at any hour of the day or night from home is a valuable tool for managing your money, building budgets, and paying bills. These are all great features of your Credit Union account, but they’re not all you can do. All you need is a smartphone to get started with mobile banking, an online banking option that lets you take your Credit Union with you wherever you go.

Mobile banking offers a host of new ways to interact with your account online. You can check your balance and pay your bills like always, but now you can check your balance from the store before you make a purchase, or transfer balances while you’re sitting in a waiting room. If you need cash, you can use your phone to find the ATM nearest you. It’s a simple matter to set up E-Alerts that will inform you instantly whenever anything significant happens in your account. Your transaction history is also available via your mobile device, just as it would be on your computer.

Wayne Westland Federal Credit Union offers mobile banking as a free service, and it’s simple to set up. Just log in to www.wwfcu.mobi on your web-enabled smartphone or mobile device and follow the instructions. (You must first be signed up for home banking before you will be able to access mobile banking) The first time you log in, you’ll have a PIN emailed to you for security purposes. Once your device is registered, you’ll be ready to go. Mobile banking is the fast, free, and convenient way to put your Credit Union at your fingertips, even when you’re away…

Financial Wellness

Surviving a Layoff – Tips to Help You Cope with a Layoff

November 27, 2011

In these financial times, layoffs are a possibility nearly everyone thinks about. They hope it won’t happen to them. But what do you do if you are the one laid off? Smart financial planning from Day 1 will help ease the pain as you move from one job to another.

Ideally, planning for a layoff will begin before trouble is in sight. Every month, set aside a little money in a special savings account for emergencies, till you have enough saved for a few months expenses. This money is your insurance policy, not only against layoffs, but sickness, car trouble, or other unexpected events. Trimming down on unnecessary expenses early can further provide a cushion.

Even after a layoff, however, there is still a great deal you can do for your finances. Sit down right away and make a list of your income. Be creative, since your main income is gone or going. Include things like unemployment, severance, tax return, any second income. Start thinking about hobbies that may make money for you, or skills you could hire out on a freelance basis.

Next, make a list of all your expenses, such as credit card bills and bank statements to get a true picture of what you’re spending. Prioritize your expenses, and start cutting whatever you can right away. Take a look at your debt, as well. If possible, work with your creditors to stop trouble before it starts by adjusting payment plans or consolidating debt to make fewer monthly payments.

The emotional punch that comes with a layoff can be devastating, but it doesn’t have to damage your life or your family. Try to be positive and look for the new opportunities that come with sudden freedom from your old job. Use it as a time to learn thrift, and teach it to your children. The good habits you pick up will follow you, even when you have a new job.

Financial Wellness

What’s Your Money Personality?

November 10, 2011

Everyone thinks of money differently. Perhaps your grandmother clipped coupons and watched every penny, while your neighbor never seems to think about tomorrow when he has money today, while “you” love to dream about your retirement to a tropical paradise someday. The way you think about money (the type of money personality you possess), becomes a big part of your overall financial picture.  Finding your personality can help you set goals and plan more effectively.

Spending Money
When it comes to spending, maybe you’re a hoarder, the overly thrifty type who loves to save money and who always thinks twice about purchases. Maybe you’re a spender, happy as a clam in a mall, a flea market, or on any shopping website. Hoarders and spenders both like money, either having or using it.

Future Plans
Perhaps you’re a planner, with spreadsheets and contingencies for all your expenses, taking life one-step at a time. Or, perhaps you’re the dreamer who loves the big picture but doesn’t know how to make those dreams come true on a day-to-day basis.

Marriage
When it comes to money within the marriage, you might be a merger, preferring the simplicity of jointly held accounts that can be easily tallied. Alternatively, you might instead be a separatist, enjoying the independence that comes from having your own money to spend as you like. This personality category can be a big problem if spouses don’t agree!

Investing
You might be a risk-taker, willing to take your lumps in the market in pursuit of big gains on adventurous investments. You might also be a risk-avoider, preferring to keep your nest egg someplace safe and boring rather than risk it cracking.

As a member of Wayne Westland Federal Credit Union, you can take advantage of the Accel program, a free financial education and counseling program. To use this service, simply call 1-877-33ACCEL (332-2235) or visit them on the web at www.accelservices.org

 

Financial Wellness Investments

Planning Your Retirement

October 20, 2011

Planning for retirement can seem like an overwhelming task. There are so many options to choose from, and the goal can seem very unclear, especially if you have many years of work ahead of you. In this economic climate, hoping for a simple pension plan from an employer is not the realistic retirement plan it once was, so it’s important to take steps toward ensuring your own financial future. The first and most important step is to get started right away.

A great way to get started with retirement planning is to consult a financial advisor. A financial advisor can help give you an idea of how much you’ll need in your retirement nest egg and walk you through some of the ways to start saving. If you have 401ks from jobs you have left or other bits and pieces of retirement plans strewn around, a professional advisor can help you consolidate them into an effective whole.

When planning for retirement, it’s helpful to pursue several different strategies. If one strategy doesn’t pan out, having a fallback position is vital for your peace of mind. If you have a 401k, you can still take advantage of the tax benefits of a Roth IRA for some of your retirement savings.

Even if you’re near retirement or already retired, smart planning is still important. Making sure you withdraw in tax-efficient ways will stretch your nest egg further. Moreover, retirement does not mean you can’t get a part-time job doing something you like. Even a little bit of income will make your retirement nest that much softer. Whatever plan you make, saving as early and often as possible is always the best strategy.

Financial Wellness

How Much Debt Is Too Much?

October 6, 2011

Credit is a part of everyday life, and it can be a great tool. Used wisely, good credit can help people score better deals on homes and cars and even land better jobs. The flip side of credit, however, is debt, and debt can be a huge burden. More American families are in greater debt than ever before, and the situation can seem overwhelming. There is help and hope for those who feel trapped, but the situation must be recognized before it can be addressed.

How can you tell if your debt is becoming dangerous? There are a number of red flags, many involving your credit cards. In a typical month, does your credit card balance rise? Do you find yourself routinely making only the minimum payments or using one line of credit to pay another? Are you over the limit on any of your credit cards? Do you find yourself dreading looking at your balances or not looking at all?

There are other debt danger signs to look for, too. Have you recently had a drop in income? Are you afraid of losing your job? Do you try and hide purchases or expenses from your spouse? Do you have to work overtime or dip into your savings just to keep up with the bills? If you can answer yes to any of these questions, your debt may be reaching dangerous levels. Rather than wait until things become overwhelming, it’s important to seek help as soon as possible.

Do you need some assistance with your debt? As a member of Wayne Westland Federal Credit Union, you can take advantage of the Accel program, a free financial education and counseling program. To use this new service, simply call 1-877-33ACCEL (332-2235) or visit them on the web at www.accelservices.org

 

 

 

Financial Wellness

Choosing A Credit Counselor

September 22, 2011

Does your credit card balance increase each month, even though you make payments? Are debt collectors calling you? Do you run out of money before your next paycheck? If your answers to these questions are “yes,” then you should consider finding a credit counselor to help you get your finances back on track. Just know that not all credit counselors are helpful or even in business to help “you.” This is why Wayne Westland Federal Credit Union teamed up with Accel Members Financial Counseling to bring you credit counseling. Best of all, it’s free to you, so there’s no reason why you shouldn’t call them today.

We care about our members and have found a counseling agency that you can trust to give you a top-notch financial education and the help you need through their counseling program. Accel has been helping people for over 40 years through their outstanding personalized service. The team at Accel can assist you in budgeting; understanding and improving your credit score; personal money management; getting out of debt; and showing you what to do to avoid bankruptcy, foreclosure or repossession.

If you are currently swimming in a sea of debt and aren’t sure what to do, give them a call. They’ll take time to listen to your situation and any special circumstances that you have. They can help you budget so that you know where your money is going. They will teach you how to organize your debts to be paid off quickly. Confidence should be restored and the won’t fear of opening your mail or answering your phone will be no more.

Accel counselors are available Monday through Thursday 8 a.m. to 10 p.m. (EST), Friday 8 a.m. to 7 p.m. and Saturday from 9 a.m. to 1 p.m. Just call them at
1-877-33ACCEL (332-2235) or visit them on the web at www.accelservices.org

Financial Wellness

Five Savvy Moves to Improve Your Credit Score

September 15, 2011

If you are planning on applying for a loan or a mortgage in the near future, you’ll want to make sure that your credit score is in tiptop shape. Here are five things you can do to improve your credit
score immediately. 

Pay Your Bills On Time, Every Time
More than one-third of your credit score is based on your payment history, so make sure your payments are made and received on time each month. To avoid late or lost payments, consider setting up automatic payments which will be drafted from your bank account.

Reduce the Balances of Your Existing Debt
The amount you owe to lenders counts for 30% of your credit score, and experts suggest using no more than 10% of your credit limit because the more credit you utilize, the more your credit score drops. If you are currently using more than 20% of your credit limit on some of your credit cards, make plans to throw larger payments at those debts until the balance is much lower. 

Build Up Your Credit Mix
If the only credit you currently have is in the form of car loans, you might consider getting a credit card to diversify the types of credit available to you. You don’t need to stay in debt. Just use it a few times a month, pay the balance, off and your credit score should improve. 

Keep Old Accounts Open
While you don’t want to have too many credit card accounts or open lines of credit, you do want to keep the oldest ones open as they reflect the length of your credit history and, even if you aren’t using them, they will help build your credit score.

Avoid New Accounts
While your credit score is partially calculated on how many sources of credit you have, you don’t want to have too many new accounts since 10% of your score is based on new credit. If you already have three or four credit cards, don’t open any more.

Financial Wellness

Reducing Expenses to Achieve Your Goals

September 8, 2011

Each family has its own unique goals, whether it is taking annual trips to Disney, fully funding the kids’ college funds, or paying off the mortgage before retirement. All of these goals have one thing in common–the need for extra money, above and beyond what is required for the daily household budget. One of the fastest ways to be able fund your goals is to rework your budget and see what can be trimmed. Here are five ways to squeeze money from your budget without sacrifice.

Become Coupon Masters: This could become a fun family activity and one that has an unobtrusive educational aspect. Start clipping coupons for your favorite foods, pet supplies, and personal care items. Then check sales flyers to see which items are on sale and pair the sale with a coupon for extra savings. Another option is to switch to generic brands whenever you can.

Limit Meals Out: Eating out is a huge budget buster for many families, so choose one night a week to eat out and get some quality time together as a family. Don’t forget to use coupons!

Eat Healthier: While many people complain that eating healthier is more expensive, cutting out all beverages except water can have huge financial and health benefits. Buy fruits and vegetables from local farmers or stock up when stores have them on sale. Over time you’ll also find that your family is healthier and spending less in doctor co-pays.

Become Mr. or Mrs. Fix-it: When a minor home repair needs to be done, head to the library for some repair books or ask for help from a knowledgeable friend to save big.

Spread Out Your Haircuts: With very few exceptions, most people don’t need to visit the beauty salon as often as stylists recommend. Add an extra two to three weeks between appointments and you’ll need fewer haircuts each year.

Experiment to see what works best for your family so that you can meet your financial goals faster.

Financial Wellness Savings

Back-to-School Savings for Your Household Budget

September 1, 2011

The start of a new school year means new teachers, new friends, and new challenges for kids and teenagers. It can also mean new and expensive supplies for parents to buy! This year, parents and students will spend 68 billion dollars getting ready for the new year of school. Savvy parents can take steps to make their dollars go further.

 

1. Shop in Your Closet First

Before you hit the store, look at last year’s school supplies to see what’s still good. Things like scissors, protractors, and pencil sharpeners don’t wear out and can be passed around between kids from year to year.

2. Make a List
Write one master list for the family’s shopping. Some things can be bought in bulk for less and divided between kids.

3. Develop a Budget
Make a realistic plan for what you can afford to spend this season and stick to it. Back-to-school doesn’t just have to be preparation for classes; it can be a valuable lesson for your kids in money management. Work with your kids to set a budget for their supplies so they see how it’s done.

4. Shop Early and Often
Office supply stores love this season and will often start big sales in the summer. Check your paper or go online each week to see which stores have the best deals.

5. Use Your Credit Union Wisely
Some supplies, such as computers, clothes, and graphing calculators, have the potential to break any budget. Instead of using credit cards, a low rate personal loan from Wayne Westland Federal Credit Union can offer the freedom to purchase without the high and often-changing interest rate or temptation to buy more than you budgeted. Now is also a great time to start a youth account so your child or teen can save up for items that didn’t fit the budget.

1 … 25 26 27 28 29 30

Tax Solutions and Savings for Members

Trust & Will

TruStage Auto & Home Insurance Program

wwfcu.org

You are about to open a window to a third party website. WWFCU is not responsible for the content of the third party website. WWFCU does not represent either the third party or the user if the two parties enter into a transaction. Privacy and security policies may differ from those practiced by WWFCU. Do you wish to continue?

You will be redirected to

Click the link above to continue or CANCEL