EPEFCU

Christmas on a Budget

The holidays can be hard on our wallets as we scramble to buy loved ones everything their little heart’s desire. We put together a list of ideas that are sure to make holiday shopping easier on your budget.

This year, suggest a Secret Santa type Christmas. Place your family’s names in a hat and have everyone choose a name. Set a price limit, and instead on trying to buy your entire family a gift, you’ll only need to worry about one. Everyone will still receive a gift and you’ll have eased the financial burden not only for yourself but for your entire family. 

Do something for someone else. Embrace the spirit of Christmas by giving the gift of charity. Find out what organizations are close to your families heart and give a donation in their name. Many organizations will let you choose whether or not you’d like to display the amount of money you’ve donated.

Set a budget. As a society we have become so consumed with the commercialization of Christmas that all of the gifts we buy for our loved ones rarely reflect the way we feel about them. Sure they may be great gifts, a leather handbag, a sparkly piece of jewelry, but oftentimes we may be tempted to purchase whatever it is the salesperson recommends. By limiting the amount of money you have to spend on a person you’ll be forced to really consider what it is you’re buying, making your gifts more thoughtful than ever before. 

Plan ahead. By setting aside money for Christmas early, you won’t worry about scrambling to find the money once the shopping season comes around. Head out to your local credit union and open up a Christmas Club account. At EPEFCU, $5 is all it takes to open up the account. You can open your Christmas Club Account between November 1st and January 31st and earn a high interest rate on your savings.

How do you keep your budget under wraps during the holiday season? Share your ideas with us, we’d love to hear them!

 

MEMBER NCUA

Smart Tips for Your Holiday Travel

If your planning on traveling this holiday season chances are you won’t be alone. The Transportation Security Administration reports that the holiday travel season is the busiest travel time of the year. Not surprising, the cost of traveling during this time of year increases dramatically and deals are limited.

According to Travelocity, the cost of the average domestic flights between Dec. 16 and Jan. 1 is already 5% higher than last year, while international airfares are up 6%. Over New Year's Eve weekend, domestic airfares are up 6% and international airfares have jumped 12% from 2010.

While deals may be scarce, that doesn’t mean you still can’t find one. So if you’re making plans to be out of town in time for the holidays, it’s important to begin preparing for your trip now as prices are likely to climb as we approach the Christmas holiday.

One way to secure cheaper tickets is to consider flying to smaller airports outside of the larger cities.

Traveling with gifts? Lighten your load while saving money by mailing Christmas gifts directly to their recipients and avoid those annoying baggage fees. Many sites offer free shipping during the month of December. Remember to check for coupon codes before completing your purchase.

If possible, avoid the busiest travel days and opt for traveling on the actual holiday. According to CNN, Friday December 23 is one of the busiest days to fly, as well as one of the most expensive days to fly. Consider instead flying on the Wednesday before or even on December 25^th. Traveling by car? Reduce the stress of busy roads by avoiding the busiest travel days.

Be prepared. If you’ll be flying this holiday, you may very well encounter a delay or two along the way and being prepared will help reduce your stress and save you money. Load your mobile device with movies, games and e-Books and don’t forget to pack your battery charger as well as enough snacks to hold you over. Your money will go much further in a local grocery store than it will in any airport.

Black Friday Deals

Revenue generated by retailers during the holidays accounts for 20 percent of their annual income each year. And this year, retailers are getting an early start. Many will be opening their doors tonight rather than waiting for November 25^th. If you’re gearing up to start your holiday shopping this Black Friday, make sure you do your homework.

According to Yahoo, Macy’s, Khols, GAP, Old Navy, Banana Republic and Target will open their doors at Midnight while Wal-Mart will begin offering many Black Friday deals beginning at 10 PM. Electronics deals will start at midnight, including over $100 off an Xbox360 game console, according to an article published by abcnews.com. 

Target has also announced that it will price match any item within seven days of purchase however you must bring in your receipt and competitor advertisement to receive the price adjustment.

But great prices aren’t the only thing retail stores will be dangling in front of customers to get them in the doors. Some retail giants like Old Navy and J.C. Penny are pulling out all the stops, offering a limited number of customer’s free goodies. Be one of the first to snag a Kodak EasyShare Sports Digital Camera if you purchase at least $40 in merchandise at J.C. Penny. Or, head on over to Sears, where free Thomas Kinkade ornaments will be handed out to the first 200 shoppers to purchase clothing or intimates.

If you have a Smartphone make sure to take advantage of applications that allow you to compare prices while you shop. Doing your research can help you save even more this holiday season, check out eBay’s ‘Red Laser’ app or Amazon’s ‘Price Check’ app.

Bottom Line: It’s easy to get carried away with so many stores enticing us left and right this holiday season so it’s important to do your research and make sure you not only set a budget in place before hitting the stores, but have a plan in place as well.

Celebrate With Us!

As the cold weather nears, El Paso Employees Federal Credit Union is looking forward to the Celebration of Lights this December. For the first time last year, EPEFCU became the sole sponsor of the downtown tree lighting festivities, adding to the merriment a fireworks display, light show, the El Paso Employees float bearing Mr. and Mrs. Claus, and unveiling the celebration's new name, the Celebration of Lights. We look forward to another fantastic celebration this year. Click here to listen to a podcast featuring Ken Walters, President and CEO of El Paso Employees Federal Credit Union, speak about the upcoming celebration. We hope to see you there!

 

 

Join Us On Our Float!

This December, the El Paso Employees Federal Credit Union float will once again be present during the Celebration of Lights parade as we sponsor the 2011 event.

Last year, Alice Sanchez and her daughter joined the EPEFCU staff on-board as our float cruised down the streets of downtown El Paso. Riding on the float was an incredibly exciting experience, one we're sure she and her daughter will always remember.

This year we’d like to once again give a lucky member the chance to ride our float! Are you interested in being a passenger with the El Paso Employees Credit Union staff? If you'd like to hop on-board our float this holiday, leave a comment below or on our Facebook page and tell us why you’d like to be a passenger with us this year. Then, we will randomly select a winner which will be announced via our social media sites in December.  Make sure to post your comment before December 1st! Good luck! Remember that you must be 18 years or older to win.

Click here to view pictures of last year's Thanksgiving parade!

Bank Transfer Day

Big banks have been making headlines lately with news to begin introducing additional fees to their customers. Monday, Bank of America announced that it will no longer implement the proposed debit card fee following in the footsteps of many other larger banks such as Wells Fargo and JP Morgan Chase which have also dropped plans to impose similar charges. The damage however seems to be done.  In response to these actions, and many people have come together to form what is being called Bank Transfer Day.

According to Wikipedia, Bank Transfer Day is a consumer activism initiative calling for a voluntary switch from commercial banks to not-for-profit credit unions by November 5, 2011. Since the creation of this movement, a Bank Transfer Day Facebook page has emerged generating a following of more than 35,000 people.

Still, many people who don’t belong to credit unions are under the misconception that they are only for a certain segment of the population. For example, many in El Paso believe that in order to be a member of El Paso Employees Federal Credit Union, one must work for the city of El Paso. While this may have been true 75 years ago, EPEFCU has since become a community chartered credit union, meaning that anyone who lives, works or worships in the city is eligible for membership and can sign up for a FREE checking account.

There are many more differences between banks and credit unions, below is a list of some that you might want to consider if you’re thinking of participating in Bank Transfer Day.

1. Credit unions are locally based and therefore can make decisions locally.

2. Credit unions are not-for-profit. This means that surplus earnings are returned to members often in the form of higher rates on savings and lower rates on loans and credit cards. Banks on the other hand are profit driven.

3. Credit unions are member owned. When you make a deposit into a credit union you are buying a membership and decisions at the credit union are made by a voluntary board of directors chosen by the members. Decisions are made based on what is best for the entire membership of the credit union. Banks however are run by small groups of shareholders. This paid panel of directors makes all of the decisions, leaving customers without any say in how the bank is run. In the banks case, decisions are based on what is best for the small group of shareholders or investors.

So head on over to your local credit union and start earning more for your money. If you’re interested in joining a credit union, visit culookup.com and find out which credit union is located in your community.

 

 

 

Federally Insured by NCUA

Fall Projects: Tackle these Home Repairs for a Warm and Energy Efficient Winter

Before the cold sets in this winter you’ll want to make certain to tackle certain projects around your home, doing so will ensure your heating costs stay down this chilly, winter season.

Prepare your fireplace

Using your fireplace will not only keep you toasty, it’ll help keep your heating costs down as well but be sure to have it inspected at least once a year.

Most likely your fireplace hasn’t been used all summer which means you’ll want to sufficiently clean it out before you begin using it again. A chimney sweep can help you remove any soot or creosote that may be lingering inside your fireplace as well as inspect it while he’s there.

Protect your fireplace from outside elements. Purchase a protective cap with a screen for your chimney. This will help keep rain and snow from damaging the walls of your fireplace. According to thechimneysweep.com, rain coming down an open flue can mix with soot or creosote, causing unpleasant odors and deterioration of flue walls. This can also cause rust damage to your stovepipes, stove and even your furnace.

You’ll also want to inspect your fireplace damper in order to make sure it is opening and closing properly. Don’t forget to keep the damper closed when your chimney is not in use in order to keep the cold air from coming in.

Clean your Gutters

Clogged gutters can occur when debris such as leaves are left behind. By not cleaning your gutters, rain and melting snow can cause water to back up in the gutters, causing your roof to leak. Make sure to give your gutters a good rinse after removing any lingering debris such as leaves.  You’ll also want to ensure that your homes downspouts are carrying water away from the foundation of your house.

Check your Doors and Windows

If you live in an older home with single-pane glass windows, replacing all of your windows before the cold sets in may not fit into your budget. Work on replacing them a few at a time and in the meanwhile purchasing a window insulator kit can help keep the cold air out. A window insulator kit is essentially a plastic film that is adhered to your window’s interior. The plastic is shrink- wrapped to the window by applying heat and can easily be removed in the spring. Installing the kit is cheap and easy, and will serve as a buffer against cold drafts.

Old doors may also be allowing cold air to enter your home, forcing your heater to work harder. Purchasing door sweeps to keep cold air from coming in is a quick and inexpensive way to fix those drafts. According to the U.S. Department of Energy, drafts can waste 5% to 30% of your energy use.

Turn ON your Fan

Fans aren’t just for keeping cool. Did you know that reversing the direction of your fan can actually help push warm air downward? In the winter, reverse the motor and operate the ceiling fan at low speed in the clockwise direction. This produces a gentle updraft, which forces warm air near the ceiling down into the occupied space, according to energystar.gov.

Get started on these simple fixes to ensure that your home is prepared for the chilly climates this winter.

Congratulations Martin Robledo!

We recently wrapped up our eChecking iPad giveaway contest and one lucky member walked away with a brand new iPad! Throughout the month of August we encouraged members of our community as well as current members to sign up for our new eChecking account for their chance to win an iPad. Both current eChecking members as well as new eChecking members were enrolled into a drawing where Martin Robledo walked away the winner! Congratulations Martin, enjoy your new iPad and your eChecking account!

Did you know that you could earn 3.03% APY*? That's the highest checking account rate in El Paso! Plus, our eChecking account offers free Online Bill Pay, eStatements, unlimited check writing, no minimum balance requirement, no monthly service fee or per check fee and the freedom to use any foreign ATM, because EPEFCU we will reimburse you any fees incurred by the credit union.

What are you waiting for? Open your eChecking account today!

 

 

*Any eAccount holders who don’t meet the requirement or are disqualified during the quarter, will not earn a dividend for the quarter and the credit union ATM withdrawal fees will be charged.

**3.03% APY is paid on balances up to $5,000. Premiere Checking rates paid on balances over $5,000.

***APY is annual percentage yeild.

Protecting Your Identity: Listen to our first webinar!

At El Paso Employees Federal Credit Union we’re constantly looking for ways to educate our community in money matters. Recently, the EPISD school district’s website was hacked and according to a local news station, an unknown hacking group was able to obtain students’, employees’ and some parents’ names, Social Security numbers , dates of birth and addresses.

In the past, EPEFCU has held financial seminars inside of our branches covering a variety of topics. However, we know you’re busy and so we recently held our very fist online webinar called ‘Protecting Your Identity.’ With this latest security breach we wanted to show you what steps you can take to keep your personal information safe and what to do if your information has been compromised.

Click here to listen to our free webinar!

 

Catching up with Melissa

We had the opportunity to follow Melissa around at one of her practices to find out what it's like preparing to compete in the Fiesta de las Flores Pageant. Take a look at what she's been up to!

 

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