Don't Be Fooled-Scams Are On The Rise!

Have you ever sold anything online? If you have, then you know the feelings of excitement that you get when someone offers to purchase your item. Everything seems to be going great! Then, you receive a check in the mail for MORE than what you asked for. You are instructed to send a portion of the money back to them via a specific money sending service. Sounds fishy, right? Well, trust your gut, because you almost got scammed! This is currently the most common scam there is and it is on the rise, according to the Federal Trade Commission.

I know you don't want to be scammed! Here are some tips to keep in mind:

•  If they send you a check for more than the amount you asked and instruct you to send any of that money back, there's a very good chance it’s a scam. You should also never send money through money sending services that you cannot track, especially to someone you don’t know personally!
  
• Just because you deposit a check doesn’t mean it’s a good check. Checks go through a series of steps BEFORE the funds are actually pulled from the third party's account. A financial institution must make funds available to you within a certain time period. Therefore, by the time the financial institution is informed that the check is fraudulent, the funds may have already been spent.
  
• If the check is fraudulent and you have spent the funds, YOU are responsible for the amount withdrawn against that check.

• Don’t accept sad stories from strangers asking for money. Many scammers will tell you they have a sick family member and need money immediately. This is still a scam and unacceptable!

If you ever question the authenticity of a check you receive, bring into your financial institution to verify the check.

The point here is: don’t “cash” any check from someone you are not familiar with, regardless of how nice the person sounds. Follow this link for more information from the Federal Trade Commission on Check Scams.

Written By: Kelly V.

Six Steps to Your Own Pot of Gold

During the month of March, you can hardly escape the Irish jokes and the little leprechaun figurines. You may think to yourself "That lucky little leprechaun, always finding a pot of gold. I wish I could find a pot of gold!" Don’t deny it, it’s true. You've thought it at least once in your lifetime.

What if I told you that you could find a pot of gold? Or that you might already have it? You might think I've gone crazy. Nope! You have the power to create that pot of gold, simply by saving!

I've encountered many people that balk at saving, and have excuses like "It’s too hard" or "I don't make enough to save" or "I just can’t." There’s no such word as "can’t," and it’s not hard at all. Trust me, I know, I've been an anti-saver. Working at HCCU and other personal experiences have shown me how important saving can be as of late, and I want to spread the message on to you! If you’re able to save, you can give yourself peace of mind by putting away enough to cover unforeseen expenses or save up for a future purchase. Let me give you a few tools/ideas to help you save.

Transfer money: Put a given amount into your savings account at a given interval. For example, you could set aside $50 from each paycheck. You can do this manually or schedule it through ItsMe247 Online Banking (also known as OLB). You can also come into any branch and ask a Member Representative to transfer that money or help you set up an Automatic Funds Transfer.

Open a Club Account: Heck, open as many club accounts as you need. I suggest this because having a savings account allotted for a specific goal helps make that goal real. I have a club account that’s titled "Rent," and that’s where I place a portion of my paycheck. Doing this helps keep it separate from my other money and keeps me from accidentally spending it during the month. The account can be opened with a Member Service Representative, and you can nickname the account anything you want through your OLB.

Debit Card Round-up: This is a fantastic tool we've just rolled out this year. As it sounds, this service rounds up your debit card purchases. Here’s an example: You bought a coffee with your debit card for $2.50. The system rounds that total up to $3.00. The $2.50 goes to the vendor, but that extra $0.50 goes into a savings account of your choice at the end of each day. If you make multiple debit card purchases in a day, the sum of all that rounded changed is placed in your account. If you have any more questions about this, or to enroll, call or go see a Member Service Representative.

Avoid Fees: Avoiding fees will help keep those pennies in your pockets. There are three ways to avoid fees. The first is managing your money well. If you don’t manage your money well, you are likely to encounter fees from overdraft transfers, NSF fees or Regulation D fees. The second way to avoid fees is to make your payments on time. Late fees are just extra money out of your pocket! The last way to avoid fees is to use all your resources. For example, avoid incurring a $2 fee for a phone transfer done by a Member Service Representative by using OLB or the CU*Talk automated phone banking instead.

Budget: I don’t care who you are, you need a budget in order to maintain a good financial position. Allot a certain amount to various costs and stick to it. I aim to be a bit under budget if possible, because that allows me to save a little more.

Track Your Expenses: Truthfully, this has been the most helpful thing for me. You can use a little notebook, or one of the many apps available in the Google Play Store or the App Store. I am usually attached to my phone, so I use an app. I have to manually update each transaction in the app, so I reconcile it daily with ItsMe247 Online Banking, to make sure I haven’t missed something.

Even if you only try a couple of these, I’m sure you’ll be able to find your own pot of gold—it’s been there all along!

Post by: Breanna B.

Promise Deposits - It's MY money and I want it NOW!

When I was away at college, living at the university and I received a paper check, I had mixed feelings. I was very grateful that I received the check; however, getting to the financial institution was difficult without a car. I’ve also been in the situation where I was unable to get to a financial institution, no thanks to conflicting work hours. If you’ve ever faced a similar situation, take heart—you will no longer have to struggle with such conflicts. Horizon Community Credit Union is rolling out Promise Deposit!

Promise Deposit is a new product that allows you to promise a deposit of a check, but receive the funds immediately. In order to use this product, you’ll need to enroll and be approved. This can be done through your online baking portal. Hover over the heading in the upper left-hand side that says “My Accounts.” A large menu will pop up, and you will see “Promise Deposits” under the “Manage” heading. You will see the stipulations for promise deposit, which are also outlined below. It is then as simple as clicking the “Enroll Me” button. You will have to wait to be approved. You can also call HCCU or request enrollment when you’re at the teller window. No matter how you enroll, you will still have to be approved. It is also possible to have your Promise Deposit privileges revoked if you no longer meet the eligibility requirements.

As is to be expected, there are stipulations involved in using Promise Deposit. There can only be a maximum of 10 outstanding checks at any given time. The sum of all outstanding checks cannot exceed $1,000, and there is a $500 daily deposit limit. Once you promise a deposit, you have 4 calendar days to get the check to HCCU, whether that is in person, by mail, or by night deposit. There is a $2.50 fee for each check submitted via promise deposit. The fee is waived for Platinum level SunDrops members.

I've told you how to enroll and the stipulations, but I haven’t even gotten to the best part: actually using Promise Deposit! There are three steps when creating a new deposit. The first step requires you to fill out a form with all of the information on the check. To make it easier, the online form looks just like a check. For example, the box for the check number is in the same place as a check number on a normal check. Below the check form is a drop down menu that allows you to select the account you wish to deposit the check in. Once you have completed all of that information and selected your account, you must press the button that says “Add this check to my deposit” to continue. A window will pop up with the check number, amount, who the check is from, and where it will be deposited to. If you see any errors, this is your opportunity to fix them. Otherwise, you can continue. You will then be taken to the second step. You can review your deposits and remove them if you wish. You are also given the option to start over completely. The third step simply involves pushing the button that says “Complete this Deposit.” Once you have completed those steps, you are halfway done!

Halfway done, you say? Yep-Don’t forget that you have to get the checks to us. If you fail to send the check, the amount that you promised will be removed from your account and you put yourself at risk to lose Promise Deposit privileges or incur overdraft fees. After you have completed the steps listed in the previous paragraph and created a deposit, you will be taken to a page that will guide you on the mailing requirements. You must sign the back of all of your checks with your signature and the tracking number you are given. You will also need to print the Promise Deposit Certificate and mail it with your checks. At the bottom of the web page, you will be provided with our P.O. Box and your due date.

Even though we love to see your smiling face at our branches, we understand that some people have difficulty getting there. The frustration of check depositing can be a thing of the past for you. Enroll in Promise Deposit today!

Post by: Breanna B