There's No Such Thing As a Free Lunch Anymore

Seems like nothing is free anymore or if something is free, there is always a catch. Here's a link to something that is FREE: www.annualcreditreport.com

You can get a free credit report from each of the three credit reporting agencies once every 12 months. When I say free report, I mean the report itself-your credit history, not your score. Many people log on to this site and the first thing they look for when they view their report is their score. There is a fee to obtain your score.

Beware of other companies that claim to provide you with a FREE report. Many times there is a disclaimer (*asterisk) by the word FREE that states the report is free as long as you sign up for one of their credit packages or products.

Take advantage of this free service and check your credit history. How many accounts are in good standing or bad standing? Are items you already fixed still showing up as negative items? Are accounts you don't remember opening showing up on your report? Are accounts you thought you already closed still showing up as still open? Take a look and let me know! Chao for now, Leslita

Is a $1 monthly fee worth it?

This past March, management and the board of directors instituted a $1 monthly maintenance fee on share savings to help cover the rising costs of doing business.

The cost of paper, processing, inserts and ever rising postage have pushed the cost of mailing statements upwards of $1.75 or higher, per statement, per month. Fortunately, due to our diverse relationship-based products and delivery channels, there are a number of ways to avoid this fee. They include accounts for 17-year-olds and younger, member’s choice checking, senior service checking and all accounts that opt to receive their statements electronically via eStatements.

Currently, less than half of the members receive paper statements and management felt it is simply unfair and inequitable to ask the entire membership to cover the total cost of this very expensive and avoidable delivery option.

I realize that if you are a member upset about the fee, you may alter your membership because you have been asked to change how you communicate with the credit union, or maybe you just believe it is a matter of principle. Honestly, the long-term goal for the credit union's success is for each of us to use our credit union to its fullest.

In the meantime, please use this opportunity to post your comment and talk back with Troy.

“BTW”….“LOL!”…. “BFF”…. “PLZ”….”BTWN”….

I was compelled to write this blog after a conversation a co-worker and I had regarding our daughters. I will refer to my co-worker as “Susan”.  Susan’s 15 year old daughter ran up a $300 cell phone bill because she was constantly texting her “BF”!

I found her story interesting because I had just pried my 3 year olds little fingers off of her daddy’s keyboard the night before when I realized she was no longer innocently “typing” on a Word document she had pulled up but on the internet looking at pictures of Hannah Montana! So I asked myself, how in the world can a 3 year old feel comfortable enough to think of her cyberspace destination, maneuver the mouse and then point and click with such precision? It hit me…so obvious but yet I never thought about it previously. Generation Y (millennials) and Generation Z are exposed to technology at an extremely early age! It is amazing how this type of exposure can influence a generation’s norms and preferences. I am a “Gen Xer” and the first time I laid a hand on a computer was in junior high (“LOL”)… but here my 3 year old was carefully selecting the links, pictures and icons she wanted to click on to reach her destination!

As a mom, of small children I feel like I need to stay in the know of the latest technology so I can be vigilant of my children’s activities.

Moms and businesses alike have adapted to these generations’ cultures or have at least attempted to understand the norms in order to stay vigilant of their children’s activities.

There is no coincidence that businesses are attempting to keep up with the changes of these technologically savvy generations. Give me your comments and take a look at this link,http://southcarolinafederal.typepad.com/simplecents/2009/04/whats-all-this-business-about-young-free-1.htmlto learn the latest South Carolina Federal is doing to stay connected with these bright groups. “CU”!

It's interesting how someone can impact your life...even paying bills online

Like many, I too resisted the invitation to pay bills on-line. "Why do it on-line when my current way of mailing checks in those little self-addressed bill envelopes served me so well for many years." Even though many folks around me (usually younger) we're saying how wonderful it was, I discounted it. Then a conversation with Gail changed my life!

Gail is a co-worker with a passion for education. One day she told me how she really loved the way the on-line bill payment worked, how easy it was, and how it really helped her plan better. I remember having lots of doubts but she was so enthusiastic, there had to be something to what she was saying. That evening I logged on, checked it out, set up a couple bills and paid them...and, as they say "it changed my life".

For me, paying bills on-line makes the process much easier (it really does!). It saves me time, and it gives me the confidence of having a 21st century organized approach to paying bills. If you're not already doing it, you probably have a number of preconceived notions just like I did. Perhaps you have your own fears or triumphs of paying bills on-line? Kevin the service-guy wants to know.

When will the new building be ready?

In checkout lines all over the place and sporting my blue, I get this question probably more than any other. Reliable folks in the know say the branch at our Rivers II campus extension in North Charleston will open to the membership by the first quarter of 2010.

What a great space it’s shaping up to be. A bunch of us toured the site a few weeks ago, when it already looked like a light, bright, welcoming place. Here are some of the cool features that await us:

• Eight double-stacked lanes in the drive-thru (double what we have now at Rivers).
• At least two ATMs directly off Rivers Avenue.
• An interior as fresh and streamlined as our newest Shipyard and Summerville branches. For more on what’s so cool about this, check out Troy Hall’s recent post.
• Lots of ways you can help yourself: three iTeller stations, two coin sorters, an interior ATM, shredder and more.
• An atrium that functions like a mini-museum, honoring our strong roots in the North Charleston community.

Such good stuff!

An error on my credit report...¿Qué?

Cleaning up your credit report is not as complicated as you think or as difficult as the credit repair agencies make it sound...

FYI, stay away from credit repair agencies-they won't do anything you can't do on your own.

Ok, back to cleaning up your credit report...

First step: obtain your credit report-all three because not all three may have the same exact information. Remember, annualcredit report.com is the place to go, not the other one with the catchy jingle. 

Second step: know what can and cannot be removed. Wrong, duplicate, or negative but old info can be disputed. Really old items such as chapter 13 bankruptcy will drop off after 7 yrs. Just because you don't like an item does not mean it can be removed -- it has to be wrong/false info in order to request that it be taken off your credit report.  

Third step: dispute errors that are truly errors by contacting the credit bureau-you only need to contact one-they will notify the other 2 bureaus. The bureau has 30 days to investigate your dispute. After that, if the creditor can't verify the info, the bureau will remove it from your credit report.

Chao for now, Leslita

What is the color of your money?

Knock, knock! Who's there? Pink. Pink, who? Now, repeat this three times and on the fourth time answer the question with Orange. Orange, who? Orange you glad I didn't say "pink" again?

Okay I get it, your curiousity is really peaked and you're saying. "What in the world does 'pink' and 'orange' have to do with my accounts at the credit union?" Funny you should ask. Both pink and orange are new colors of your traveling debit card. Yes, now you can select from one of five exciting colors ... traditional blue, black, garnet, pink (very popular), and orange.

Green is still the favorite color of the Hall family. However, since that is not one of the choices, then orange it is! So, what's the color of your spending? Where has your traveling debit card been? Post your comment below, it's time for you to ... talk back with Troy.

As Unemployment Rates Increase, Child Abuse Increases…..

“WHAT?” Exactly, that is what I said driving to work this morning as I caught the tale-end of an announcement on the radio, “DSS reports an increase in child abuse with the economic downturn”.

As a mom of 2, my initial reaction was one that made me feel sick to my stomach! I debated on whether or not I should write this blog, is it PC? But, you know…it is what it is...

When we think about signs of an economy in trouble we think about the stock market, the unemployment rate and foreclosures. Now, ask yourself can signs of a down economy also be an increase in domestic and child abuse, suicide attempts, a rise in robberies, etc.? YES.

Although I am not a sociologist, it does not take an expert in the area of sociology to see the correlation. Being in the talent acquisition field I can tell you our recruiters receive an endless amount of unsolicited resumes and inquiries on employment opportunities, South Carolina has the 2nd largest unemployment rate in the nation (over 11%)!

Economist seem to have varying perspectives as to when we will come out of this downturn, however, it looks like most are predicting 2010 as a “recovery year.”  “Recovery” in my book means so much more now…not just recovery of the stock market and unemployment but possibly American homes and communities. What are your thoughts or suggestion on how we can educate employees/people within the workplace and community on handling stressors such as the above in these extraordinary times?

It's the weekend and I'm locked out...now what?

At one time or another, all of us have forgotten or mistyped a password. You know you’ve tried too many  times when you see the unmistakable message that says "this account has been locked out". Now what?

Don't panic. If you are locked out of your on-line iTeller account with South Carolina Federal Credit Union you have options. South Carolina Federal provides a handy link, “Forgot your password?”, under the password box in the log-in area. As long as you know your user ID and the answers to your security questions, you can change your password and actually unlock yourself. This is particularly handy on the weekends or late at night. 

Once you have changed the password, simply log-in again with your new password and your user ID and you’re in business! Just another way South Carolina Federal is working to live up to the promise of Life Simplified. Is it working for you?  Kevin the service-guy wants to know.

iTeller username and password changes: a learning experience

In February, we changed the username and password requirements for iTeller. Unfortunately, many members were frustrated by the new “strong” requirements (Some of our own staff had trouble!  Even our CEO said he hated to give up his four digit password!) and the transition process wasn’t smooth as we planned.  (Understatement.)  We heard you ask, “What were you thinking!?!”  Now,  we'd like to know how you think we could do better next time. 

Our goal for the new “strong” requirements was very simple: to enhance your online security. By eliminating the use of member account numbers as a valid username and enhancing the elements of member passwords, we would afford extra layers of protection to your iTeller sign-on. It’s definitely annoying to alter a habit. We go from being virtually able to type a password in our sleep to suddenly struggling to remember a new one. Access codes, user IDs and passwords are many and varied these days; no one wants yet another. And everyone becomes likely to forget information when processes change and ingrained habits suddenly are broken.

At the same, no one would argue that online security is important.  Really important.  The credit union made a security-focused change but probably could have done things differently to simplify the process for you.  What ideas do you have if there's a next time?

Hasta La Vista Credit Card!

Jessica is surfing the net looking for a new laptop around $2,000. Wants it or needs it? She never asks herself that question as everything is a life or death neccesity with her. She grabs her car keys, slips on her flip flops, and she's gone!  When she gets to the check out line at the store, they ask her how she would like to pay for the laptop instead of asking her the real question: "Can you afford it?" Even if they had asked her that, she still would have said 'yes,' because in her mind she can afford it with a little plastic credit card.

What Jessica doesn't know, is that she bought two laptops, but is only taking one home.  Jessica's laptop will be out of date before she pays it off in full because her credit card company charges her 20% interest and they require a minimum 3% payment each month. At this rate, she will owe $60 a month, but the $60 will get split into 2 parts: an interest payment of $33.33 and a principal repayment of $26.67. Leaving her with a remaining balance of $1,973.33 because only $26.67 gets applied to the balance. This type of calculation will continue until the credit card is paid off in full. After a while, the interest payments alone will be higher than what she originally paid for the laptop. Total interest of $2,240 over 15 years!

Wow! I know, right? If you were Jessica, would you have made this purchase with your credit card or waited until you saved up the money?

Make a guess as to what your last credit card purchase actually cost you, then use this calculator to find out the truth. Chao for now, Leslita.

I'm paying for what?

While working out at the gym, my neighbor told me about a letter from his bank that informed him as of April 1, 2009 his business account would be assessed a fee for FDIC insurance. (Have been trying to get him to open an account with the credit union for some time.) What he read literally sent him through the roof. He told me that after looking into it, the fees on his business account were sky high. And, he was sick and tired of paying for someone else's poor choices. Now all of a sudden, he is listening to me and will be opening a new business checking account with the friendly staff at the University Boulevard branch on 78 near Charleston Southern University.

"Why?" you ask. Because the credit union is not, has not, and does not plan to assess fees to protect a member's deposits. We offer federally backed deposit insurance as a convenience for both business and personal accounts.

Don't learn it the hard way (like my neighbor) and wait until something sends you into the sky before you check out the credit union. I want to hear your stories of what matters most to your business. Help me, help you by ... talking back with Troy.

Diversity Series, Part 1: Does diversity benefit one particular group more than another?

I thought it would be interesting to start a series of discussions on the importance of diversity within the workplace.

South Carolina Federal has always embraced diversity through the benefits we offer which appeal to all groups; some of these benefits include work-life balance, flexible scheduling and a learning center that promotes continuous education to our employees to better serve and anticipate the needs of our members.

People and organizations have different perspectives on the issue of diversity, here are 3 common myths:

• Myth 1: Diversity is just about race and gender.
• Myth 2: Diversity is Human Resources responsibility.
• Myth 3: Diversity is the “In” thing to do right now.

Personally, I believe in the broader approach to diversity…when employees recognize and respect individual similarities and differences and feel they and their work are valued you have an organization that has embraced diversity within its everyday practices.

In future diversity topics we will start to peel back the onion a little more and look at different areas under the diversity umbrella. What are your thoughts? Are there specific diversity areas you would like to discuss? Are you a part of an organization who embraces diversity? Do you have diversity ideas you want to share/discuss? Let me know!

Fixing a Leaky Faucet...

If I were to help you create a budget and ask you how much money you spend each month, you would probably start things off by listing your mortgage payment, car payment, car insurance payment, etc...nine times out of ten, you probably wouldn't focus on or notice spending leaks such as the gourmet coffee you buy every morning, daily lunch purchases, weekend restaraunt bills, weekly or monthly movie rentals, toys for your pet, etc....You probably don't think you are spending a lot because each time you make the purchase it may only be $2 here or $5 there, so you are probably looking at it in a "per transaction" manner rather than a "what does all this add up to be at the end of the month?" manner.

Let's just take one of the examples above...buying lunch at a fast food place or cafe each day of the work week...How about we use $6 per lunch as our hypothetical number. That is $30 a week, $120 a month, $1440 a year...you were ok with $6 and maybe $30, but when the $120 and $1140 popped up, you probably fell out of your chair! Think of how much cheaper it would be to bring lunch from home and think about what you could do with all that extra money...save for your child's education...contribute more to your retirment...if you could plug leaks like this in your budget, what would you do with the extra money?

Chao for now, Leslita

Where did the teller line go?

Members who frequent the Summerville branch constantly tell me that they are pleasantly surprised by its simple design and 12 convenient drive-thru windows. Members have said:

• "I can't believe you have automatic doors. This is very cool!"
• "My son loves to hear the sound of the coin running through the counter. He is always asking his Grandpa for loose change to bring to the credit union."
• "There is so much room. It was so crowded in the other branch."
• "Wow! The tellers actually came over and greeted me while I was in line. Blew me away."
• "Thank you for allowing me to check my account on-line without having to bother the tellers."

So, how do you react to unexpected changes? Do you find yourself wondering ... 'what were they thinking?' Tell me about your latest branch experience? I'm anxious to hear from you. Now is your chance to ... talk back with Troy.

We Lost 137lbs Last Week!

South Carolina Federal employees are challenging its senior management team to a weight-loss challenge…it is ON! Collectively we have lost over 497lbs in less than one month!

I am pleased to say I contributed 8lbs (can’t believe I am sharing this!) to this amazingly high total.

For all of my subscribers/followers you know I am a mom of two with my littlest turning one in the near future, so I can only use the excuse of “baby weight” for so long! LOL

Take a look at this website for some tips on how to eat healthy on a budget, http://www.sparkpeople.com/resource/nutrition_articles.asp?id=511

I am a big fan of Dr. Ian K. Smith’s, best seller, The 4-Day Diet. He does an exceptional job of aiding his readers in achieving desired results, A-Z! I now truly understand the importance of setting realistic weight-loss goals, my motivations and dealing with temptations to become a healthier individual.

Are you reading this book? Do you have weight-loss tips or stories to share? Let me know and I will respond back to you!