IN THIS ISSUE » Fox In the Community » 78th Annual Meeting » Quick Tips » Home Ownership » 52 Week Savings Plan » Budgeting Basics
Cover Story: Attaining the home ownership dream, when she didn’t think it was possible. Meet Lindsay and her “Home Loan Extraordinaire”, Rob Lamirande.
A Home of Your Own Annual Meeting
Spring 2015
Snap Shots
Fox In The Community At Fox, we aren’t just a financial, we’re also in your neighborhood. We’re friends ... and we’re family. Here’s a snapshot of some of the community activities we are proud to be a part of!
APRIL 18 - 25, 2015
Money Smart Week is a public awareness campaign designed to
Hoops for Cash Green Bay West student Nic D. was the lucky one to be chosen for our Hoops for Cash contest at the American Heart Association Red Out basketball game on February 13. He made one of four shots and earned $25 for himself and $175 for the American Heart Association.
Congratulations, Nic!
r5Home Buying Afte average home This is NOT your buying seminar! g a home in a Learn about buyin tting. Meet the casual, relaxed se help you on your experts who will nership. road to home ow day, April 28 • Appleton - Tues nesday, April 29 • Green Bay - Wed on and to For more informati foxcu.org register visit www. www.foxcu.org
help consumers better manage their personal finances. The following are events we invite you to take a part in: • Free Document Shredding • The Big Read • Presentations with “The Ultimate Cheapskate” Jeff Yeager For information on all of these events and more, please visit our website www.foxcu.org/msw
ng Watch for our Grand Openi ly ear ing of Main Street com summer 2015! 1820 Main Street, Green Bay
Visit www.foxcu.org for a list of upcoming events that we sponsor. Spring 2015 •
Fox Facts | 2
Facts and figures about Fox’s Annual Meeting
78th ANNUAL MEETING When: Sunday, May 3rd, 2015
Meeting 3:00pm - 4:00pm, doors open at 2:30pm
Where: The Grand Meridian
2621 N. Oneida Street, Appleton
Light hors d’oeuvres will be served and $1,500 in cash door prizes will be given away. There is no charge to attend this meeting.
Free bus transportation pick up times • 3 N. Main Street, Clintonville; 1:15pm • 2170 S. Ashland Avenue, Green Bay; 1:30pm • 1302 N. Shawano Street, New London; 1:35pm Register for the meeting and bus at foxcu.org or by calling Kalene at 920.993.3757.
Vote for the Board of Directors Members who are 18 years of age and are the primary voting
9 volunteer board members are
member (first name on the
elected by the credit union’s
account), are able to cast their
membership. A Board of Director’s
vote at our Annual Meeting or by
primary responsibility is to set
absentee ballot. Please visit
policies, represent the membership
www.foxcu.org/annual-meeting
at large, and monitor the overall
for voting details.
well-being of the credit union.
and Individuals benefited from attending one of our 32 hours volunteered by Fox
member seminars or 92 student classroom
employees and our Board
presentations. Financial education is a core
of Directors for community
commitment in which Fox strives to
non-profit events.
continually emphasize.
www.foxcu.org
Spring 2015 •
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A Home of Your Own Annual Meeting
By the Numbers
Quick #FoxQuickTips Tips
Hashtag: (noun) a word or unspaced phrase preceded by a hash or pound sign (#) and used to identify messages on a specific topic. (Tip: Click on the hashtag when surfing Facebook, Twitter and Instagram and you can see other related posts).
Use caution when dealing
Get to the finish line faster!
with pop-ups. This is a perfect place to plant a virus or Trojan program which may compromise your identity. Fox’s online banking users
#Foxquicktip
can receive an extra level
Pay off your loan faster with bi-weekly payments. It’s easy! Divide your current monthly payment in half and pay that
of protection by installing IBM Security Trusteer Rapport on each computer used to access accounts within Fox’s It’s Me 247 Online Banking. Fox members can learn more and download Trusteer Rapport for free at www.foxcu.org/trusteer.
amount every two weeks, which will result in one full extra payment made to the loan each year.
As a credit union member, a young person in Wisconsin can save an estimated $117,000 over a lifetime of
HAPPY BIRTHDAY! Check your credit report!
using a not-for-profit credit union for borrowing and saving. Lifetime credit union savings comes from: AUTO LOANS $5,163 HOME MORTGAGE $44,784
#Foxquicktip
HOME EQUITY $59,120
Annually, you should review your credit report…what better reminder than your birthday! Visit annualcreditreport.com to obtain your free copy today (or on your birthday!). www.foxcu.org
SAVINGS CERTIFICATE $2,056 $5,819 CHECKING, SAVINGS & OTHER $2,056 TOTAL LIFETME SAVINGS: $116,942 2014 Wisconsin Credit Union Scorecard. WI Credit Union savings compared to WI banks, Q3 2014.
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Not for a second. Are there things I wish I would’ve done differently? Certainly. Maybe you can learn a thing or two from my experience… My parents were the ones who encouraged me to look into buying a home. For the price I was paying in rent, it made a lot of sense. Why not have something to show for my money? They recommended I stop in at Fox to get pre-approved. This is where I met Rob, my “Home Loan Extraordinaire”. Rob made sure I knew what to expect throughout the entire home purchasing process. He was there to answer all of my questions, no matter how ridiculous I thought they were. I was happy to have him on my team…and he’s still on my team, continuing to answer my questions.
there was no reason for me to rush. Two months later, my amazing friends and family were helping me move out of my apartment and into my new home. Some parting tips: • Choose your home inspector carefully. • Inquire about bi-weekly payments, which allow you to pay off your loan sooner. Fox has • Secure your moving truck well-ahead of time. Give yourself an extra day or two with it. • Use Fox’s Online Banking to monitor payments, loan balances, etc. • Let the people who help you move know how appreciative you are. Feed them! Say thank you. Feed them some more, and thank them again.
If you think home ownership is way beyond your reach, think again. Fox Communities Credit Union is here to help start the conversation. Need to save up for a down payment? Not sure how much you can afford? We can help www.foxcu.org
Spring 2015 • Fox
Facts | 5
A Home of Your Own
I never imagined purchasing my own home as a single woman in her mid-twenties. But
I
With my new card I received 1.99% apr* intro rate on purchases for the first 6 months! Was great for buying our new kitchen appliances!
I earn one point for every $1 spent and I can redeem those points on gifts for family or splurge on myself!
Paying my bill is easy when I use online banking to transfer from my checking to my credit card. I can even transfer from my credit card to my checking in an emerency or to pay off balances from other cards.
I save up my reward points for hotel and airfare savings making my vacations cheaper!
Saving money is a challenge that tries our patience; we often spend money based on what we want now, not what would benefit us in the future. At Fox, we want to help you create a savings plan. The 52 Week Savings Plan can help you develop a pattern of making a weekly deposit to help you reach your savings goal. The plan maps out savings over the course of a year starting with a deposit of $1 the first week, $2 the second continuing up to $52 on week 52. If you follow this plan, you will finish with a total amount of $1,378. There are many ways to approach the 52 Week Savings Plan. Want to see a more immediate result? Try starting from the end, which would make your first deposit $52 and your last deposit $1. You could also double the amounts of your deposits each week and finish with $2,756. It doesn’t matter how you do it, it’s all about learning to save an amount each week. Download a savings chart to help track your weekly deposits. www.foxcu.org/52weeks
Unlike other cards, my Fox card has no annual fee, no cash advance fee and no balance transfer fees!
Learn more and apply today at www.foxcu.org/visa-credit-card *Apr= annual percentage rate. After the introductory period, the purchase rate will be 9.90% - 18.90% based on your credit worthiness.
www.foxcu.org
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SNEAKY EXPENSES TO KEEP ON YOUR RADAR When setting up a budget, it’s easy to list all your major expense categories, like your rent or your student loan payment. The tricky part is keeping track of all those little extra expenses - the ones that most people forget to include in their budget in the first place. Such as:
MAIL-BASED SUBSCRIPTIONS
Subcriptions that get delivered to your door and that tend to renew annually: •Magazines •Personal shopping services •Gift-of-the-month clubs
DIGITAL SUBSCRIPTIONS
Digital media (movies, music and ebooks) that you access online and that tend to renew monthly: •Media services like Netflix and Spotify •Ebook access like Kindle Unlimited •Tutorial sites like Lynda.com
SAVINGS TIP: Public libraries have been upping their game - many offer free access to ebooks, digital magazines and professional resources.
GIFTS
Special-occasion purchases for family & friends: •Presents and gift certificates •Greeting cards and postage •Little extras like gift wrap and balloons
SAVINGS TIP: Use your DIY skills to reduce gift expenses - shop in advance, compare prices, and take advantage of online deals and free shipping offers.
NON-PRESCRIPTION HEALTH ITEMS The random items you pick up at the drugstore: •Vitamins and supplements •Cough and cold medicines •Eye drops and allergy relief
SAVINGS TIP: Combine in-store offers with manufacturer coupons found in weekly flyers or online. www.foxcu.org
PERSONAL BUDGET MUST-HAVES Every budget is unique, but successful budgets all share versions of the following:
EMERGENCY FUND Prepare for the unexpected. An emergency fund should be easy to access in the event of unemployment, illness or a critical home or car repair. • Start your fund by setting a $1,000 goal. • Then, build your fund until it covers 3 to 6 months of living expenses.
SAVINGS GOALS Making savings a priority instead of a place to park leftover cash. • Treat your savings category like a bill and contribute to it at the start of the month to keep from “accidentally” spending that money elsewhere. • Create a separate account or chart for big savings goals. It’s easier to save when you’re mindful of your progress towards that new car or that dream vacation. Want to learn more? Watch our video! vimeo.com/foxcu Spring 2015 •
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3401 E. Calumet Street Appleton, WI 54915
Our Mission We at Fox Communities Credit Union have a commitment to enrich the quality of life for services. The Credit Union is dedicated to the protection operate in an economically sound manner. The Credit Union will provide an atmosphere of professionalism, friendliness, and mutual trust. We shall remain strong in the communities through our support and involvement.
Find Us: facebook.com/foxcu Follow Us: twitter.com/foxcu Watch Us: vimeo.com/foxcu Call Us:
Best Loan Rates Local Servicing Step-By-Step Assistance
Appleton - 920.993.9000 Green Bay - 920.490.2900 Black Creek - 920.984.4200 Clintonville - 715.823.2191 New London - 920.982.9420 Oshkosh - 920.233.2890
Let us help get you the home of your dreams!
www.foxcu.org Apply online at www.foxcu.org
Federally insured by NCUA. Equal Housing Opportunity.