Tips for First Time Homebuyers

My boyfriend and I are in the process of buying our first home. Now I am at a bit of an advantage since I do mortgage lending, but I have learned some helpful information along the way that I feel would be helpful for others. Buying your first home should be exciting and somewhat stress free so here are some great tips:

1. Get an idea of what you are looking for. We started looking for houses by using www.trulia.com this website allowed us to download an app to our cellphones and sent us an alert whenever there was a new listing in our preferred area. We could also select the number of bedrooms, bathrooms and the price range we were looking for.

2. Get pre-approved. Before you even starting looking at houses with a Realtor make sure that you get pre-approved for a mortgage loan. It is important to make sure you can afford the houses that you are looking at. It is a simple process and will put you at ease when looking at houses. Stop in one of our branches and talk to a loan officer about getting pre-approved for a mortgage!

3. Select a Realtor that you trust. A good way to select a Realtor is to talk to your friends and family to see who they used. I can’t imagine what our home shopping experience would have been like if we didn't like the Realtor we were working with. Remember a good referral goes a long way!

4. Get an inspection. Once you have put in an offer on a house make sure to schedule an inspection. This is something that your Realtor will go over when you are putting together your offer to purchase. An inspector will look over the appliances, the roof, the siding, and pretty much everything else and give you a detailed report of everything that they look over. An inspection will sometimes allow you to make changes to your offer to purchase and give you an idea of what will need to be replaced in the next 5 years. This is a cost that you have to take care of on your own, but it is well worth the money.

5. Give yourself some time. Buying a house is going to take time and patience. Make sure you are prepared for that. In most cases you are not going to find the home you want the first time you go to look with the Realtor. Buying a home can sometimes take up to a month or longer depending on the loan type and what is in the offer to purchase. Be patient. It will be worth it in the end.

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Post by: Katie B.

Credit Life & Disability Insurance

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What are some things you buy each month to treat yourself every so often? Maybe a coffee from the drive on Fridays, a quick burger for lunch with a friend, or even an after work beer. In the moment it may not seem as though these items cost that much, but over time, they sure do add up. So what if we were to skip one or two of these things once each month, what would you put that extra money toward? If I were to tell you that setting aside $1-$15 per month could get you Credit Life & Disability Insurance on a loan would you believe me? WELL YOU CAN! I know once you read the word insurance, your nose instantly turned up, but I promise this is worth reading! We all hope and pray that nothing will happen to us or any of our family members. But the truth is something might, and we need to be as prepared as possible. Let’s pretend your family just purchased a new vehicle and financed it through HCCU, I want to show you what the difference in payment looks like with and without the coverage.

	Without Coverage	With Coverage
Loan Amount	$15,000	$15,000
Interest Rate	3.99%	3.99%
Term	48 Months	48 Months
Monthly Payment	$315.06	$319.78

WAIT! Do you see that??? That’s only a $4.72 dollar difference! Over the life of the loan that only adds up to $226.56! I’m not sure what you’re thinking, but I think that’s SO worth it! I know we don’t like to think about it, but we have to. Make sure you’re prepared for the worst, and add credit life and disability to your loan today!

Post by: Emily P.

New Fees, Old Fees, & What YOU Need to Know!

Fees?  What fees?!

Don’t panic! Most of our membership won’t be affected by ANY of our fees – even the new fees. The Fall Newsletter shows all of our fees, current and new, but if you missed the newsletter just check at either Horizon Community Credit Union branch and they can help you out. Which fees are new? Things like ‘current account activity printout’, so you still get a free statement, but now if you come in during the month and need a printed copy there will be a $1 fee. How to avoid the fee? Try checking your account online! Remember, we can give you any information on your account, the fee comes in when we have to print it out.

What else is new? There’s a dormant fee of $5 now. A dormant fee is assessed on accounts that are not used – no deposits, withdrawals, or payments in a 12 month period. How to avoid that? Use your account at least once every 12 months!! That’s it!

Of course we still have fees involving NSF/Overdraft, Stop Payments and Returned items. As these fees will generally not be waived, you still want to keep a close eye on your accounts so you don’t run into those fees.

A lot of fees can be waived depending on what level you are in for SunDrops points. For instance, if you are in the Silver group the fees for photocopies and faxing are waived! If you’re in the Gold group you aren't charged for a current month activity printout. Lucky you if you’re in the Platinum group, a lot of fees are completely waived!!!

So take a deep breath (of relief) and remember if you need any help - we’re here!

Post by: Mary D

Monthly statements that are as UNIQUE as you are!

Are you sick of the look of your monthly statements you receive in the mail? Items can be tough to locate, or maybe the print is too small to read. And what YOU prefer in a monthly statement might be different from what your neighbor wants. Everyone has a different system for managing their finances, so HCCU IS HERE TO HELP! In conjunction with our new SunDrops rewards program rolling out in 2015, we are now offering custom style statements! There are now six new statement variations, all with different features to make the statement more understandable. One features large print so it is easily visible! Another has thick black lines to separate each section of the statement. There is also an option which has the statement in two columns to fit more information on one page! There are many different options to fit your individual needs! Your finances are not one-size-fits-all, so your monthly statements shouldn't be either!

I know you’re thinking of two key things... how can I set this up and how much is it going to cost me? The setup is simple! Stop in to either location and ask to see samples of each statement style! From there, we take care of everything! Next, cost! With our new SunDrops rewards program, your account earns points each month that place you in to a Bronze, Silver, Gold or Platinum category. Each category earns different benefits for being an active member with the credit union. If you are a Silver, Gold or Platinum member, this statement style upgrade is FREE! If you haven’t quite reached these levels yet, the cost per month is simply $1.50. (But you should definitely stop in to see us then, and we can give you some advice to bump up to the next SunDrops level!)

Out with the old, and in with the new! You’re unique and you deserve a unique monthly statement! Let’s kick off the New Year with easy to read statements and take control of managing your finances!

Post by: Emily P

SunDrops Rewards - The more you use, the more you’re rewarded!

We are pleased to introduce are new member benefit rewards program, SunDrops!  In Northeast WI, we realize there are tons of different financial institutions competing for your business.  We want to show our appreciation for your business and give you EVEN MORE reasons to continue doing business with us.  

So how does it work?  Beginning on 1/1/2015, members will be awarded points for the different services they use.  The more products and services you use, the more points you earn!  The number of points you earn for each product varies – a loan will earn more points than a savings account, for example.  And you don’t have to do anything differently; everyone is automatically enrolled and you earn points for things you’re already doing, like using a Horizon checking account and direct deposit!  Points are totaled up at the end of each month and ranked in four point levels:  Bronze, Silver, Gold & Platinum. 

Now let’s get to the good part... what do YOU get out of this?  LOTS OF FREE THINGS!   Here is just a sampling of some of the possible rewards:     

• Bronze level members are eligible for free text banking, free online banking & phone banking, free check cashing and free coin counting.
• By being a silver member you can receive all of the bronze level rewards PLUS things such as upgraded statements, free faxing and photocopies, and even one free box of checks!
• If you are a Gold member, you can receive all of the above PLUS annual discounts on a safety deposit box, free cashier’s checks, and loan rate discounts!  
• Our platinum members get all the benefits listed in addition to free wire transfers, free replacement debit/ATM cards, and free overdraft transfers! 

There are SO many great things members can earn through this program.  At each location we have a brochure that lists how many points each service earns, as well as lists what benefits you earn!  You can also preview the program on our webpage at http://www.horizonccu.com/ProductDetail.php?SID=136. Want to know what level you’re at today?  Just ask!  After 1/1/2015, your point totals will also be listed on your monthly statement and in It’sMe247 Online Banking.  If your family has accounts at the credit union, let us know!  We can link accounts by household so that all the members of a family can enjoy the benefits of the top point earner for that month.  If you want to earn more points but aren’t sure how it’s possible to reach the next level, stop in and we would be glad to help create a plan!

We’re all very excited to launch SunDrops!  We know HCCU has the best members out there, and we can’t wait to say thank you by giving everyone some added perks and benefits!   

Post by: Emily P

Gividends - giving has never been so easy!

Sometimes donating to a charity of choice can be a long and stressful process. First you have to pick a charity you wish to contribute to, then you have to decide how much and how often you would like to donate, and finally you have to hold yourself accountable for those funds and keeping track!

Well enough of all that work, HCCU is coming to the rescue! Beginning January of 2015, we are rolling out a GREAT new program that makes donating simple! Each month all depository accounts, such as a savings, club or money market, receive dividends. This new program is designed to automatically withdraw these dividends for you after they are posted, and donate them to a charity of your choice! We have a list of 10 great local & national charities to pick from, including Bay Area Humane Society, House of Hope, Beacon House, and Paul’s Pantry.  Every little bit helps, and if we all pool our dividends, just think of the difference we can make in our community!

I know setting this up may seem like a lot of effort as well, but really it’s simple! Stop in to either of the HCCU branches and speak with an MSR!  It’s as easy as filling out a quick enrollment form that tells us which charity you would like to donate to, what percentage of your dividends, and from which account.  From there, we take care of everything!  And when it comes to tax time, you can see the dividends you earned as well as your donations on your monthly statements, so keeping track is super easy!

Let’s kick off 2015 the right way, and start donating to our local community!

Post by: Emily P

Your CU does a lot more than you might think!

Did you know that, in partnership with TruStage, HCCU now offers Children’s Whole Life Insurance,  providing parents or grandparents with an opportunity to protect the children they love for coverage amounts of up to $50,000?  Children's Whole Life coverage provides lifelong protection options for children at childhood rates, and features a guaranteed insurability rider which gives the child the opportunity to add additional coverage once they reach adulthood.  Or maybe you don't have any kiddos in your life, but you want to purchase insurance for yourself.  TruStage also recently launched an Essential Whole Life product, with affordable coverage options up to $250,000.  TruStage Essential Whole Life helps our members better protect their families’ financial security.  

And we know you've been hearing about health insurance a lot lately!  If you're currently without insurance, HCCU & TruStage have options for that as well!  With less than two months left in the open enrollment period, there’s still time to enroll in TruStage Health Insurance. There is a really easy-to-use online application and it is backed by TruStage's expert guidance via phone.

TruStage is an insurance partner that brings valuable services to our HCCU members.  TruStage offers investment services, home, auto and life insurance, as well as many other great products!    Take full advantage of your credit union membership and all the added perks that come along with it!  For full details or to apply for coverage, visit http://horizonccu.com/general.php and click on the TruStage banner.  

The CU Difference in Action….Come See the Difference 2/4/15!

You’ve probably heard it before, whether it was from us or some other source, people often talk about the difference between banks and credit unions.  Is there a difference, what is the difference, we all have similar products and services, right? 

It’s true!  We do offer very similar things.  There is a major difference though.  A credit union is a democratic, member-owned cooperative. So when you join a credit union, you’re more than a member; you’re an owner—and that means you have a say in how your credit union is run.  How do you have a say you ask?  By voting! 

Every year on the first Wednesday of February we hold our annual meeting, and ALL members are invited to attend.  Attendees will learn about the credit union’s performance in 2014 and receive information about its impact on members and the community.  All eligible members in attendance will also vote for nominees to fill vacant board of director positions.  (Eligible members must be at least 18 years of age, must be a member of HCCU for at least 90 days, and accounts at HCCU must be in good standing.)

So join us Wednesday, February 4^th when Horizon Community Credit Union will hold its 83^rd annual meeting.  The meeting will be held at our branch at 3139 Voyager Drive, Green Bay.  The meeting will begin at 5:15 P.M.  Hope to see you there!

Post by: Cari J

The Credit Union Difference

There are tons of reasons to love your credit union!  Credit unions are a really unique business, and by belonging to a CU, you’re a part of something pretty cool.  Credit unions are member-owned financial cooperatives.  This means that as a member of the credit union, you’re also an owner.  You get a say in how we do things here!  Your credit union is run by a volunteer board of directors that is elected by the membership (that’s you!) in a democratic process – each member has one vote.  Our board members are also members of the credit union, so they have a unique interest in seeing the credit union succeed and grow.  They are also members of our local community, so they understand what it is like to live, work, and transact business in northeast Wisconsin. 

Credit unions are also not-for-profit.  Money that we make is returned to the membership in the form of higher deposit rates, lower loan rates, and lower fees.  So all that means is rather than pad the pockets of a handful of stakeholders, we pay our dividends to you, and pad YOUR pockets.  During the recession of 2008, credit unions as a group fared much better than the bigger banks, because credit unions had been doing business responsibly all along. 

You may have also heard it said that credit unions are "for people, not profits”.  “People helping people” is the credit union philosophy.  It is the principle on which all credit unions were founded, and it is how credit unions still do business today.  This is brought to life when we lend a member $500 to fill their propane tank for the winter, or when we help a member devise a plan to pay off medical debt from an illness.  On a broader level, we live this philosophy by offering financial education to our members and communities, participating in charity events, and sponsoring community events, in addition to serving the needs of our members.

       

To learn more about the credit union difference, visit www.asmarterchoice.org or the Wisconsin Credit Union Scorecard.

Benefits of Taking Out a Loan with a CU vs. a Bank

Lower rates: Auto loan averages for CUs as of July were 2.85%  on a 36 mo. car loan vs. Banks @ 5.59%.  Therefore, banks are charging nearly twice as much for the same loan.

Easier to borrow: Community-based CUs tend to be easier to deal with than megabanks. Lending decisions are more likely to be made locally with more flexibility.

In addition, while few national banks make signature loans(unsecured loans), CUs regularly offer this type of loan to their members with good credit.  CUs also offer lower-dollar loans than banks.  You could get a $500 signature loan with a CU, but probably not at a bank because it wouldn't be profitable to them.

Loans through CUs are usually reviewed and completed in a much quicker time-frame.

Lower fees:  When it comes to fees, you will probably find better deals at CU’s than at giant commercial banks.  Whether is for fees to maintain loans, checking accounts, ATM fees, or penalty fees for overdrawing, you are more likely to have fewer and lower fees at your CU.

Credit Unions are typically smaller than banks so talking with, meeting with or working with a real live person happens much sooner in the loan process.  If you've been a member for a while, you might have even talked to the person who makes the decisions on the CU's loans.

Credit Unions offer loans that a lot of traditional banks do not.  Overall, CU rock compared to traditional banking institutions!

Post by: Lori S.

No, you don’t HAVE to, you WANT to…

Face it, there are some things that we just don't like to do.  They might be a pain, a time-suck, or just undesirable.  I'm talking about things like paying bills, going to the DMV, having dinner with that friend... You have probably said it yourself, or hear it everyday from friends, your kids, coworkers, spouse, etc. - “Ugh, I have to go to work”; “I have to take out the garbage”; “I have to do my homework”; I have to, I have to, I HAVE to…do NOTHING!  

A few months ago, HCCU brought in a wonderful speaker who stirred up my thoughts and motivation to do, or not do, things I dreaded.  How, you may ask?  Simply by replacing the word “have” with “want”.  You don’t have to do anything, you have a choice about everything you do.  All these things that you think you have to do, you simply want to do.  You might be wondering, “Is she crazy, who would ever WANT to take out the garbage?” Okay, point taken.  But seriously, you do WANT to. You want to take out the garbage because otherwise it’ll stink up the house.

You want to go to work so you see that paycheck at the end of the week.  You don't have to go to work.  You really don't!  Stay in bed and just don't go if you really don't want to.  "But then I might lose my job" you say?  Right!  So get up and go to work because you want to, because you want to keep your job and keep getting a paycheck.  

You want to do your homework because you want to graduate.  Catching on?  You're not forced to do anything.  You don't have to!  You have a choice about everything, and you want to do something because of what the end result will be.  By owning your choices, you'll feel more empowered and in charge of your life.     

So remember this tomorrow morning, after the long holiday weekend, when you’re snuggled nice and warm in your bed with your blankets covering you and your alarm goes off.  Tell yourself, “I want to get up because I want to go to work today”.  Don’t tell yourself you have to, because you don’t have to do anything, you can stay snuggled up all morning if you decide to do that. It’s easy to catch on, just switch “have” with “want” and take control of your choices in life and you'll be a step closer to a positive you!  Carry this new outlook into your work week and see if it changes your attitude at all!  :)

Post by: Kelly V

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