Have You Passed the Torch Yet?

The Olympics of course, are fast approaching, and in honor of this momentous occassion, we are asking all of our members to Pass the Torch of membership to a friend. So you may be saying, nice ploy, but what’s in it for me? How about $25?
Credit unions are member-owned cooperatives. The concept of a financial cooperative is simple. CU’s are owned and operated by members who pool their savings and lend to each other. Serving members is the reason credit unions exist. There are no outside shareholders. We’re owned by the people who save and borrow here. Earnings are returned to our members in the form of lower rate loans, higher return on savings and few fees.

We like to say we’re here to help you get ahead financially-but in these tough economic times, what better advice can you share with someone than to join a credit union? Seriously! Stop in to either of our locations and pick up some Pass the Torch membership cards-hand them out to your friends. If they redeem the cards, they’ll get a free box of checks-and you’ll be rewarded with $25! How easy is that? Think about it, you pass the card out to five of your friends, and they redeem them and you get $125! That’s a tank of gas, and maybe dinner out!

So what are you waiting for? Pass the Torch today!

Stop in for full details.

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You Have to Want to Change Your Behavior

I recently received a comment back from Rick-who wanted to know-basically, how these services can really help their situation, given the current state of the economy-I wanted to share it with all of you. We’re not miracle workers-but we can help. The change, begins with you.

Hi Rick,

Can Hopewell Federal fix it for our members? No-only the member can fix it or work on the fix. HFCU can offer the financial advice to help the member and maybe some financial products also. Are we successful in helping members fix it? Too many times the answer is no, because it is not easy. It takes real sacrifice and discipline for a member to want to turn their financial life around. It is much easier to ignore the problems and hope they will go away but they never do. Some members feel bankruptcy is the answer but that just creates a new problem. When one files bankruptcy that put a new mark on their credit report and I don’t care what any bankruptcy attorney says, it does not make you a good credit worthy borrower, immediately after the bankruptcy is complete.

Think about it, when we borrow money or buy on credit, we are promising to repay the debt. When we fail to do so, that brings one’s character into play. We don’t keep our promises, so we lose the trust of those we borrow from. It takes time to rebuild that trust.

 Now can managing money help with your gas bill? I would say yes, but also that you have to manage the use of your transportation needs to help manage the money. Group your trips together to conserve. Carpool for work if possible. You might not think of it as managing your money but if your manage your use of the car, you in a sense are managing your money.

Rick, there are no easy answers when it come to one’s personal finances. But budgeting is what one can do, to help get a handle on it. It takes hard work and sacrifice to get ahead financially.

Thanks for your question,

Al

 

Are You Looking for a Financial Fairy Godmother?

Fairy Godmother, we’re not. But … Are you feeling financially stressed?  Are rising gas and food prices making you wonder how you will survive?  Are you living from paycheck to paycheck without any savings cushion?  If payday lenders leave Ohio because of the new Short Term Lending Law’s enactment, what will you do?  Are you caught up in a variable rate mortgage and looking for a way out?

 

Look to your credit union for help.  Hopewell Federal Credit Union’s mission is to help members get ahead financially.  We help in many ways.  We can help you set up a savings program to build a reserve for everyday emergencies.  We can help you restructure your loans.  We can help you set up a budget and work to help you help yourself.  Sure we are in tough times but that does not mean the end of the world.  My dad always used to tell me that if there’s the will then there’s a way to make it happen. 

 

Too many people think that by consolidating loans, it makes things better.  But I challenge you to rethink that.  You cannot borrow your way out of debt no matter how much credit you qualify for.  By consolidating you might get some immediate relief from high payments.  It’s what you do after you consolidate that important.  You must change your spending habits.  I was told a long time ago that it’s not how much money you make that’s important but how you use the money you make.  I like to relate that to living within your means. 

 

Hopewell Federal has a credit union certified financial counselor on staff that wants to help you get ahead financially.  His name is Eli Martin and you are invited to call him to schedule an appointment.  Eli can help you get your financial life on the right track.  Don’t ask him to work miracles because he can’t.  He can however help you with a budget plan and maybe a consolidation loan to help you chart your course. 

 

If you’re into a variable rate mortgage and want to explore you options, call Jeff Harris at the credit union.  Jeff will meet with you and see if he can find a mortgage that will work for you.  The mortgage business has changed a lot since mid 2007 as the sub prime mortgage problems began to surface.  Your credit union has never offered or encouraged sub prime mortgages for members.  We will not put you in a mortgage that you cannot afford but we will try to see if we can help you out of one. 

 

Our mission at Hopewell Federal Credit Union is to help members get ahead financially.  Credit unions are non for profit cooperatives owned by our members so we work hard for them.  Go ahead and gives a call if we can be of help to you and your family.