Interra Credit Union October 2019 Newsletter
Credit Union Day 2019: Fall Food Drive Begins!
On October 17, the credit union movement celebrates International Credit Union Day. It is a day set aside for Interra to join with 56,000 credit unions worldwide to celebrate the credit union movement and participate in service initiatives as part of the People Helping People philosophy.
This year’s theme of “Local Service. Global Reach.” speaks to the industry’s impact. As Interra members, we are a part of more than 200 million members around the world. It recognizes the lives and communities that have been improved by the unique principles and actions of the credit union movement.
Interra’s annual Fall Food Drive will start on International Credit Union Day and continue through Thursday, October 31. Please be as generous as you can to help others who are in need of the very basic of life’s necessities.¹
What items are needed?
• Non-perishable food items (not expired)
• Proteins – canned beef, peanut butter, etc.
• Household supplies and paper products
• Personal care items – adult and baby
Where will your donations go?
Donations will go to food pantries throughout Interra’s service area.
The cooperative spirit, a cornerstone of credit unions, is exemplified with the partnership of the credit union and our members in service initiatives, such as the Fall Food Drive.
Thank you in advance for your generosity!
¹Not unpackaged, not past the expiration date. The credit union reserves the right to reject and/or limit any donations outside of the project’s spirit and intent, at its discretion.
Happy Columbus Day
All Interra offices will be closed
Monday – October 14, 2019
We’re still here for you, 24/7!
• Call Interra, day or night, at 574.534.2506 – even on weekends and holidays.
• Use Interra Online Banking, the mobile app and ATMs.
You’re Invited! Women and Investing Seminar
There’s no denying the facts: Generally, women tend to work less, earn less and live longer than men. That means they may need to invest more than men if they plan to retire. If you’re interested in learning how to become a successful lifelong investor, this informational seminar can help you reach your retirement goals.
Join us for “Women and Investing,” an educational seminar scheduled for Tuesday, November 5, beginning at 5:30 pm, at the Interra Credit Union main office in Goshen. A complimentary light supper will be served.
This seminar will help you learn to be a careful, competent and disciplined long-term investor, and can help you attain the financial security you seek for yourself and those you’re close to. We’ll focus on:
• Key investment principles every woman should know
• Important opportunities like asset allocation
• Understanding investor behavior
• Different financial products like mutual funds and annuities
Sue Purdue, Senior Financial Advisor at Interra Investments, located at Interra Credit Union, will present this no-cost, no-obligation seminar.
Space is limited. Make your reservation today!
• Online at interracu.com/register
• Call Interra at 574.534.2506
• Visit any office
This workshop is educational only and is not investment advice. If you need advice regarding your financial goals and investment needs, contact a financial advisor. All guarantees are backed by the claims-paying ability of the issuer. MEMBERS Insurance & Investments and MEMBERS are marketing names for the products, services and programs offered by CMFG Life Insurance Company (CMFG Life), MEMBERS Life Insurance Company (MEMBERS Life) and other leading carriers. MEMBERS® is a registered trademark of CMFG Life. CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Not NCUA/NCUSIF/FDIC insured, may lose value, no financial institution guarantee. Not a deposit of any financial institution. Financial advisors are not tax experts. For information regarding your specific tax situation, please consult a tax professional. Asset allocation and diversification do not guarantee a profit or prevent a loss. See your prospectus for details about your investment options and refer to the fun prospectus for information on specific investment objectives. Variable annuities are sold by prospectus only. You can obtain a prospectus by contacting your financial advisor or the insurance company. Read it carefully. Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC , a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. FR-2743601.1-0919-1021
If you use both heat and AC today. We get it. We live here too.
Just like you, Interra’s roots run deep, right here in northern Indiana. As a member, you know we make decisions locally and you can count on us to provide you with the products and services you need and want. We are committed to helping our communities thrive.
Expect the Unexpected With an Emergency Fund
Experts tell us that about one in four Americans have no emergency savings.
Unexpected expenses can come from a variety of sources – a lost job, illness or injury, a car breakdown or pricey home repair. These are expenses you don’t foresee coming.
In a recent Bankrate.com survey of 1,000 adults, just 23 percent of Americans have emergency savings to cover six months of expenses. And, only 40 percent could pay an unexpected $1,000 expense from savings.
How much is enough? It’s recommended that you have from three to eight months of your fixed expenses earmarked in an emergency fund, including house or rent payment, utilities, food, loan and credit card payments, and transportation.
It may seem daunting to think of the amount it may take to fund your emergency savings. “Just get started,” advises Joel Richard, Senior Vice President of Member Experience, at Interra Credit Union, Goshen. Start with a small goal that’s attainable. “If you save $10 a week, that’s over $500 in a year,” he pointed out. “Then, build from there, as you can increase your savings amount.”
Break it down even further, Richard suggests. What’s one or two dollars a day? Think of it as a drink from the vending machine, a coffee or donut on the way to work. What if you grabbed coffee at home two days a week or eat out two days and bring lunch three days? “An emergency fund protects you and your family from an inconvenience all the way to bankruptcy,” he noted. Pay yourself first. “That’s the key to success,” Richard said. “Treat a ‘payment’ to your emergency fund like you would any important payment, like a car or house payment.”
To make a savings plan successful, make it systematic and automatic. “That means make it regular, tied to when you get paid – weekly, every other week or monthly,” he added. “The real key is to make it automatic, directly from your payroll or an automatic transfer from a checking to a savings account, for example. Don’t rely on yourself to make manual deposits.”
Your emergency fund should be easily accessible, but not so easily accessible that you’ll be tempted to make withdrawals for everyday spending. “Consider a separate savings account, earmarked as your emergency fund,” Richard advises. “Don’t be tempted to pull from this account just to pay bills. Once the account grows, you can move funds to a money market account or certificate that will pay even more.”
The most important thing to remember is that setting and reaching financial goals is a long-term plan, whether it’s for an emergency fund or retirement. “It takes some small steps, but even a few dollars add up over time,” Richard said. “Remember, setting up an emergency fund is meant to benefit and protect you.”
Christmas Club Deposits
Christmas Club funds will be deposited in your account November 1.
• If you have a checking account, your Christmas Club funds will be deposited to your primary checking account.
• If you do not have a checking account, the funds will be deposited to your savings account.
Almost 3,000 Interra members have saved nearly $3 million for the 2019 holiday season. Interra’s Christmas Club account is a valuable tool to help save for those extra shopping expenses.
Discounts for Members!
As an Interra member, you have access to discounts on merchandise, electronics, travel and more. It’s a benefit of membership!
Through Love My Credit Union Rewards:
• Credit union members get $200 when you switch to Sprint, plus lines 3, 4 and 5 are FREE! Plus, members can receive $100 Annual Loyalty Cash Rewards and 25% off select accessories in Sprint retail stores.
• As an Interra member, you can save on SimpliSafe home security products.
Get all the details at interracu.com/discounts
Sprint® Cash Reward: Via deposit to Sprint® account. $100 per line, max 2 lines. Req. qualifying plan and registration within 30 days of activation. Loyalty Reward: Via deposit to Sprint® account per account. Basic: After 9/30/20 pay $60 a month for line 1, $40 a
month for line 2 and $20 a month per line for lines 3 thru 5, with AutoPay. Offer/coverage not available everywhere. Requires new lines of service. Subject to credit & $30 activation fee. Excludes taxes, fees, and roaming. Speed maximums, use rules and restrictions apply. Unlimited Basic compared to Verizon Start Unlimited for 5 lines, features differ.