Emergency Savings

What Is An Emergency Fund?

An emergency fund is money that you’ve saved up for the purpose of helping you maintain your normal life through the emergencies that life hands you.

When is it okay to use it?

• When you lose your job
• When an appliance breaks down
• Medical emergency 
• When a car needs repairs

When is it NOT okay to use it?

• Going on a shopping spree
• Buying a new TV
• Going on vacation
• Buying a new car

How to start up an Emergency Fund…

A common mistake made by many who plan to start an emergency fund is that they set their goal too high and often get discouraged when they realize that it will take longer than they expected to reach it.

Set your initial goal low!
Set a goal that you would be able to reach in just a few months rather than a few years. Take into consideration your financial situation and determine how much you can afford to put into your emergency fund each week. Anything is better than nothing at all; the important thing is to get started today!  

Where to save your emergency fund?
After you decide what amount you want to start off with, think about where you want to keep your money. Since it is an emergency fund it would be smart to keep it somewhere where you can get access to it easily. We can help! You can open up a savings account, money market account or short-term certificates here at Horizon Community Credit Union. Any of these accounts will give you easy access to your money, while earning you some interest!

How often should you deposit money into your emergency fund?
When deciding how much to start putting into your savings fund, try to make sure you are able to deposit that amount weekly. For example, $40 a week would get you to $500 in three months! It doesn’t have to be $40 a week though; it can be what you can afford and make sure it challenges you a bit, just not something impossible.

Don’t have the time to stop in every week?
Sometimes life gets a little busy and you may not find the time to be stopping by every week to deposit your weekly addition to your emergency fund. It happens to all of us! Something that Horizon Community Credit Union offers that you could find useful would be reoccurring transfers. When you open up an account you can set a reoccurring transfer to transfer your specific amount every week without you having to worry about stopping in! And when you reach your goal you can choose to stop the reoccurring transfer.  Or if you are feeling ambitious you could set a higher goal and continue putting money into your emergency fund!

How to keep track of your emergency fund?
You can use our online banking and keep track of how much your emergency fund is growing! It’s fast and easy and you can use it on your computer at home or on the go with your phone!

Saving money shouldn’t be as hard as it seems. With the help of the accounts and services Horizon Community Credit Union offers it is convenient, reliable and safe! 

Post by: Karla C.

Simplify your life with automatic transfers!

Sick of making multiple trips to the credit union per month to transfer money to pay bills? Or being one or two days late on a payment because you didn’t have time to stop at the credit union? Why not let someone doing the running for you! HCCU offers FREE automatic transfers between accounts. Tailored to fit your needs: YOU pick the day, YOU pick the amount, and YOU pick the frequency! It’s fast and easy to set up, simply stop in to one of the locations and speak with a MSR.  Can't make it to the credit union?  You can also set them up online anytime through our ItsMe247 online banking!

Do you have a bank account elsewhere that you consistently withdraw money from simply to bring over to this bank account? We also offer FREE ACH origination here at HCCU!  This means that we can pull directly from another bank account of yours that is held at another financial institution.  If you split the funds to pay bills from different bank accounts, we can help you get the funds to one of your personal accounts here and you’ll be set to go!  Setting up an origination is also very easy, simply talk to one of our friendly MSRs at either location!  They can gladly answer your questions and help you get your transfers set up.  

Check one more thing off your to-do list and let your banking happen automatically!

Post by: Emily P

There are so many ways to make a difference!

It seems like more often than not there is always an organization or charity collecting money for fundraisers. It seems almost impossible to go through the line at the grocery store without being asked if you would like to donate. If you are like me you try to give every single time that you are asked because you want to help make a difference. Did you know that there are ways you can help that are as simple as doing your grocery shopping?

Box Tops for Education:  You can find box tops on hundreds of different items. I started paying attention to the items that I was purchasing and it’s amazing how many different items will have those special tops on them. I even saw them on binders that we purchased for our CU branches. All you have to do is clip the box tops from packages, send the box tops to your child’s school and the school will receive 10 cents per box top! That can definitely add up. Don’t have any children in school? That’s ok because someone you know probably does and would be happy to take them off your hands. Some businesses even have Box Top collection receptacles and will donate to local schools throughout the year. Visit http://www.boxtopsforeducation.info/ for more information and a list of participating products.

Labels for Education: Look for the labels for education on participating Product UPC and beverage/Sauce caps. Clip the labels from the item and donate to participating schools so that they can earn FREE education merchandise. Again, you will be amazed at the number of items that have these labels on them! There are even labels on BIC pens! Something that you probably use on a daily basis! Visit http://www.labelsforeducation.com/ for a list of participating products and more information.

Pop Tab Collection for Ronald McDonald House: Whether you are popping open an ice cold beer, a refreshing can of soda or opening a can of soup those little tabs can make a difference.  Look for special Ronald McDonald pop tab collection containers in the shape of a house at schools, community organizations and businesses in your area. You can also contact a Ronald McDonald house near you to ask about getting your own house for collection. Those tabs are recycled and turned into cash this helps the Ronald McDonald house pay the bills and gives families a place to stay while their children are in the hospital. It’s something so small that makes such a big difference. Visit http://www.rmhc.org/other-ways-to-help to find out how you can help this organization.

So the next time you are at the grocery store make sure to buy those items with the Box Top for Education and the Labels for Education. Think twice about recycling that can with the tab still on it. Something so simple can make a difference for some great organizations. 

Post by: Katie B 

A Cheesehead

Being a cheesehead and going to a Green Bay Packer game is fun, exciting and costly. 

Average game ticket $77.00

Parking spot $20.00

Draft beer $9.00

Soda $5.00

Hot dog $6.00 

Peanuts $5.00

For a family of 4 it would cost approximately $400.00. 

If you were to watch the game at home...

Tickets and parking are free

12 pack of beer $10.00

12 pack of soda $5.00

8 hot dogs and buns $7.00

Big bag of peanuts $6.00

Total cost $28.00. 

That’s a savings of $372.00! Being a cheesehead at home saves you a lot of money!! 

Also, no line for the bathroom – priceless!

Post by: Alice E

How to start a savings when saving seems impossible...

For most people, saving money is as simple as adjusting a few little habits!  Don't believe me?

1) If you buy yourself a coffee everyday on your way to work, skip one day and put that amount into savings. Average Starbucks coffee $5.00. Savings $260.00 in a year.

2) If you smoke, instead of a pack a day, cut back a little each day and bring it down to 6 packs a week. Average cost of a pack of cigarettes $8.00.  Savings in a year $416.00.

3) If you buy lunch out everyday and spend and average of $9.00, pack your lunch twice a week.  You'll save $18.00 a week.  Accumulated savings in one year $936.00.

4) If you buy a soda everyday at the convenience store at an average cost of $1.69, skip the soda three times a week and you will have saved $263.00 in a year, don’t buy soda at the convenience store at all, savings total for the year $615.16. 

*With all of these changes, cutting back will not only benefit your wallet but your health as well.  And that will save you even more in the long run!

Everyone deserves a treat, but we all deserve security too, so you don’t have to go cold turkey.  Take baby steps to start. When you see the savings growing you will be more motivated to make more small changes that equal big results.

So when we think it is impossible to start a savings account, remember there is always a way!  And not only will you be saving for security and peace of mind, but you will also enjoy a sense of accomplishment.

Post by: Lori S

Photo Courtesy of photouten at freedigitalphotos.net

The Perfect Gift

Photo Courtesy of digitalart at freedigitalphotos.net

Paper or Plastic?   Replace those paper gift certificates with plastic VISA® gift cards today!  Gift cards are the perfect gift for any occasion or time of the year … birthdays, graduations, showers, weddings, and all holidays.  Buying a gift card is easy and requires very little thought or time.  Shopping for gifts can be a real dilemma.  Just what do you get your significant other, your child, or your co-worker?  Gift cards may be the answer: one size fits all, and the receivers can get exactly what they want.  Our prepaid VISA® cards range from $10 to $500 and can be purchased for $2.50 at both Horizon locations.  So come in today & pick up that perfect gift!  

Post by: Beth B

In Case of Emergency...

Definitely an emergency!

Emergencies happen.  Maybe you forgot to deposit a check, annual insurance payment is due, or an unexpected car repair arises.   That’s why it’s so important to have a financial safety net in place. Horizon Community Credit Union offers a solution for the times your account lacks the funds. It's a: 

A Kwik Cash Line of Credit!

Full Disclosure: This isn't what happens... but it can feel this way!

A Kwik Cash Line of Credit is a simple and convenient way to help ensure your checking account transactions clear in the event your balance runs low.  It is a line of credit that is linked to your checking account.  In the event funds aren't available in your checking account, the line will advance to help cover the difference. Not only can this product save you money on overdraft charges it can also save you the embarrassment of having a check returned or a transaction declined.  Plus, there are NO transaction-based monthly or annual fees.

Click here to see our current Kwik Cash Annual Percentage Rate and learn about Cash Loan Rebates!

Give us a call at 920-433-0122 to talk with a Loan Officer and make an appointment today! 

Post by: Kelly B