Constructing the Perfect Home

Photo courtesy of www.deeleers.com

Have you ever dreamed of building your own home? What does your perfect home entail? What are the steps for building your dream home? These are all questions that can be answered by attending our Home Building Seminar on October 8, 2015 at 5:30pm at our main branch on 3139 Voyager Drive in Green Bay. We will have a panel of experts who will provide the information that you need in order to successfully build your home. Topics will include choosing the right builder, setting a budget, home design, selecting a property, financing, the draw process and insurance. Our panel of experts will share information on these exciting topics and allow time for answering questions. This event is free to attend so mark your calendars and share with your friends. This is sure to be an exciting seminar. Please stay tuned for more details.

Our panel of Experts will include:
- DeLeers Construction
- Horizon Community Credit Union
- Cornerstone Mortgage
- Liberty Mutual Insurance
- Resource One Realty
- Title Revolution

Post by: Katie B.

What is Collateral Protection Insurance?

http://www.mexperience.com/guide/essentials/transport/mexico-auto-insurance.php

If you have a loan for your vehicle in Wisconsin, you are usually required to prove you have insurance on that vehicle. Most financial institutions do not accept ‘liability only’ insurance for this, which is the bare minimum required by law. They generally require full coverage, which includes comprehensive and collision coverage.

So, what happens when your insurance comes due and you can’t afford your policy? If you go more than 30 days without insurance, Horizon Community Credit Union will send a letter asking you for your insurance information. After 60 days, another letter is sent. The 60-day letter says without proof of insurance your account will be assessed with a Collateral Protection Insurance (CPI) policy.

Some people think that this is a pretty good deal! This way the insurance goes right on their loan and they don’t have to worry about coming up with the premium money. Trust me, a CPI policy is not a good deal, and here's why:

1. It’s VERY expensive and only lasts for 1 year. Each year that the policy is assessed, more will be added to your loan. Your required payment will also increase.

2. This policy does NOT qualify as 'liability only' coverage. Remember, Wisconsin requires all vehicles to, at minimum, have 'liability only' coverage. If you get pulled over and the officer asks for proof of insurance, CPI doesn’t qualify.

3. This insurance only covers the loan amount with the credit union, not necessarily what your vehicle is actually worth. If you were to be in an accident, a CPI policy may not pay for any repairs. In the event of your car being a total loss, the CPI policy probably won’t pay much more than what the amount of your loan is.

So if your insurance is getting too expensive, be sure to shop around and find a rate you can afford. Having your own car insurance coverage will be cheaper than the CPI policy we would be required to put on your loan. Any questions? Please feel free to call the Horizon Community Credit Union at 920-433-0122.

Post by: Mary D.

Credit Life & Disability Insurance

Image courtesy of [num_skyman] at FreeDigitalPhotos.net

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.

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.  

If you missed the Home Building Seminar, you're in luck!

One of the area’s top builders, realtors, title and homeowner’s insurance agents, and mortgage lenders came together on October 21st to answer a range of home building questions, some of the most common of which are listed below. 

· Will my home fit on my lot?
· Which plan is best for my family?
· How much can I customize?
· What will my new home really cost?
· What are the best rates and financing programs?
· What is the building process?

If you missed the live event, you're in luck!  We recorded the seminar and you can watch each segment now on YouTube, just click the link below!  From shopping for a builder and a lot, to securing a construction loan and taking draws, to your end mortgage financing and insuring your new home, our seminar covered it all!

Horizon Community Credit Union Home Building Seminar 2014

If you have any questions after watching the recording, or if you would like to start the home building process, feel free to reach out to any of the participants listed on the contact sheet!

Let us cover your car repairs!

Car trouble is more than hassle. It's expensive. Did you know here at Horizon we offer a product that will help limit the cost of those repairs???  It is called Mechanical Repair Coverage or MRC.  MRC will pay for the cost of covered repairs less any deductible.  Yes, pay for auto repairs!!!  We offer levels of coverage where you choose the term, mileage limit and deductible that meet your needs and fit your budget. You pay only the deductible amount you select – $0, $100 or $250.

Plus the plan includes:
-Rental Reimbursement up to $35 per day for 5 days.
-24-hour, toll-free roadside assistance, which covers towing, jump starts, flat tire changing, fuel, oil or other fluid delivery, and entry when keys are locked in your car.
-Emergency travel expenses up to $500 for lodging, meals and transportation if your car breaks down more than 100 miles from home.

You are able to add MRC to a new or existing auto loan.  Even if your loan is with another financial institution or if you own your car free and clear, as long as the vehicle is eligible for coverage, you can get MRC through Horizon Community Credit Union. Contact Horizon to see how you can benefit by having Mechanical Repair Coverage.

Post by: Kelly B

Consider this with your next auto loan...

Insurance is one of those things – you kind of have to buy it, and you hope you never need to use it. But the right coverage is important! Are you protected?

Here are a few tidbits for you to consider:

• Automobiles are expensive.
• It’s easy to end up owing more than the vehicle’s value if you can’t put money down on a car; if you choose finance tax, title and license; if you get less than you owe on a trade-in; or if you buy a new car (due to the immediate depreciation). 
• You are “upside down” on your vehicle if you owe more than what the vehicle is actually worth. 
• Accidents happen – over 5 million car accidents occur each year. A
• One in seven car accidents (about 14%) will result the total loss of the vehicle. B
• In a total loss situation, the insurance company will reimburse you for the estimated value of the vehicle at the time of the loss.
• If your insurance payout doesn’t cover your full loan balance because you owe more than your car is worth, YOU are responsible for the difference, even though you don’t have the car anymore. 
• Horizon Community Credit Union’s Guaranteed Asset Protection (GAP) can keep you out of this predicament by covering the “gap” between what you owe and what the car is worth. 
• GAP is very affordable, and the premium is fully refundable within 90 days if you change your mind and decide to cancel coverage.
• You can enroll in coverage when you apply for your vehicle loan and the cost can be rolled into your loan amount and monthly payment. 
• A loan officer can give you more information with just a quick phone call! (920) 433-0122

Your primary insurance will protect the vehicle itself, but what it protecting you? If something happens to your car and it ends up being totaled, that alone is a traumatic experience. Having a loan balance left to pay makes things even worse. We can minimize the angst by making sure your loan balance will be completely taken care of. It’s a small investment that will be a HUGE benefit if something ever happened.

A Rocky Mountain Insurance Information Association. U. S. Auto Theft Statistics & Cost of Auto Crashes and Statistics. Copyright 2014. http://www.rmiia.org/index.asp

B AutoTrader.com. Crash Course for Coping With a Totaled Car. Copyright 2014. http://www.autotrader.com/research/article/car-news/168401/crash-course-for-coping-with-a-totaled-car.jsp

Post by: Erin S

Nobody likes to think the unthinkable...

What would happen to your family if you became disabled, or worse, if you died?  Are they protected?


Disability insurance is designed to help maintain your standard of living while you are out of work.  It is the oldest form of health insurance, providing coverage when you are unable to work due to accident or long illnesses.  Statistically, there is a 30% chance of someone needing disability insurance before the age of 60.

Disability insurance replaces up to 60% of your income if you are out of work for the above reasons.  You can use funds to pay your mortgage, rent, monthly bills, medical bills, whatever you need to pay.  Disability insurance is non-taxable.  You will not pay any income tax on any disability insurance you receive.  It is also inexpensive, making it easy to maintain a policy so that you are covered in case anything happens to you.



Life insurance is designed to replace your income in the event of your death, therefore helping maintain your family’s standard of living. It also allows you to keep the financial promises you made during your lifetime if you die before those promises are fully paid.  Life insurance protects your assets and the assets of your loved ones. Your death benefit payout is non-taxable, so your family will not have to pay taxes on your death benefits.

Life insurance can also be accessed during your lifetime in certain circumstances, such as when you are suffering from a chronic or terminal illness.  Some plans accrue cash value which can be accessed during the life of the policy for any reason.  It can also be used as a supplemental form of retirement income, depending on type of life insurance you purchase.  Life insurance is also very affordable; the earlier you buy life insurance the more reasonably you can acquire it.

Post by: Lori S