Hops For Hunger

Financial One Credit Union, as well as Southern Anoka Community Assistance (SACA) is proud to present the third annual Hops for Hunger! On Saturday, March 28th, brewers such as Boom Island, Dangerous Man, Fair State Brewing Coop, Sociable Cider Works and many, many more will be in attendance. Tickets are $35 and that cost includes the entry fee as well as tasting samples from all of the vendors that will be in attendance.

Not only will there be plenty of tasty beer to sample, but this event also includes live music from The
Brandon Projekt and Ash St. Johns Music, a silent auction that will include some awesome prizes, and a raffle if you are feeling lucky. Don’t forget to try some of the amazing food from Chowgirls Killer Catering.

The best part of this event is that all proceeds will go to benefit the Southern Anoka Community Assistance food shelf. SACA is a nonprofit that serves the communities of Columbia Heights, Hilltop, Fridley, and Spring Lake Park. In past years, Hops for Hunger has allowed SACA to purchase 175,000 pounds of food! It will again take place at the Solar Arts Building, 711 15th Ave NE, Minneapolis, just upstairs from Indeed Brewing.

Financial One Credit Union is excited to be a part of this event and thank you for supporting SACA. Your help allows them to help our local communities. We look forward to seeing you this Saturday evening at Hops for Hunger III! Purchase tickets here: http://bit.ly/1xd4abr

Student Loans: What not to Do

As a freshman, it’s important to read and understand the promissory note before signing on the dotted line. As many previous graduates have learned, sometimes paying off your student loans is harder than what you bargained for. Here is what NOT to do when it comes to your student loans.

Taking Out Loans When You Do Not Need Them

About 60% of students currently take out student loans. The other 40% get around loans by choosing a cheaper school and paying in cash, finding scholarships that can pay for some of the tuition, or putting off school and working to save up some money. Do not sign accepting the loans if you do not need them.

Taking Every Dollar Offered

Unless you have chosen a very expensive school, you more than likely don’t need to take the maximum amount of money offered by the government. You should evaluate what you truly need and only take out that amount. If you are worried about books and other expenses consider working a part-time job.

Not Keeping Track of Your Paperwork

Whether you are organized or not, throwing away your debt information can hurt you in the long run. Where are you going to send payments if you don’t have your information? If you do lose your paperwork, the National Student Loan Data System is the place to go to try to recover some of your lost information.

Not Making Interest Payments While Still in School

Try setting aside a few dollars a month and putting it towards your student loan interest. While this may be tough to accomplish on a small budget, it can help you out in the long run if you get rid of some of the debt right away. Don’t let the interest capitalize and be added to your overall balance.

Using Your Loans Towards Non - School Related Activities

Using your loans towards non-school related activities. If you are taking extra money out on loans, don’t use it to buy another case of instant noodles. The best thing you can do is to take that check and immediately pay down your student loans. Spending borrowed money on vacations and off-campus housing isn’t necessary. Just because you have a check doesn’t mean you need to spend it.

FAQs on Student Loans

Student loans are known as a hassle. With all the regulations and rules, loans can be a frustrating topic for most students. However, student loans are a great tool that enable students to obtain their education at a university that they normally cannot afford. We took some of the most frequently asked questions and addressed them in this month’s blog.

What are my student loan options?

The most popular loan is the Federal Stafford Loan. This loan is available for most students but is capped well below the cost of most colleges. Another loan is the Federal PLUS Loan. This loan is for creditworthy parents of students. This loan can more than likely cover the full cost of education for any student. The third most popular loan is the Federal Perkins Loan. This loan is made directly by a school to the student. Some schools do not offer this loan, but those that do can decide who to give the loan to based on who needs it the most.

Am I Eligible for a Federal Student Loan?

If you are enrolled in a certified program at an eligible school, you are more than likely eligible for a federal loan. You must be a U.S. citizen or an eligible non-citizen. In addition have your high school diploma or GED equivalent. If you have been convicted under any federal or state laws you may not be eligible for aid in certain cases.

What’s the Difference between Federal and Private Loans?

Federal loans are highly regulated by the federal government and include many benefits like fixed interest rates and repayment plans whereas private loans are subsidized and usually more expensive. Most people maximize their federal loans before thinking about taking out a private loan.

How long is my Grace Period?

A grace period is a specific amount of time during which you do not have to make payments towards your student loans. Knowing how long your grace period lasts is crucial so you don’t miss payments. In the terms and conditions section of your promissory note, you will find details about your grace period. If you no longer have the note your school's financial aid office and your lender are excellent resources to assist you with finding out the correct information about the grace period.

Can I Cancel my Student Loans?

Federal student loans can be cancelled but there are very specific conditions you must meet to get your loans cancelled. A successful cancellation means the government must give back any payments you have made and help you try to turn your credit score around. An application form is available, but there may be tax consequences if you decide to go through with the cancellation.

Tips When Buying A Used Car

Buying a used car can save you a ton of money on your next vehicle. But with that comes risk as well. Minimize your risk by taking a look at these 5 easy steps on how to locate, price and negotiate.

Build a List of Cars You Want 

Avoid going into the process with only one car in mind. Put together a list of 3-5 makes and models that have you interested. Remain flexible, and you will have the best chance to find value in your price range.

Check the History of the Vehicle 

By using the vehicle identification number (VIN) and license plate, you can access history reports about any car you would like. These reports often have information that is crucial to the buying process. If the report is negative, try looking for a completely different vehicle.

Give it a Test Drive 

Trying out the car in person is your best bet to seeing if it is in good condition. It’s also your chance to see if it fits you right. Is it easy to get in and out? Is there enough room? How about the visibility? These are all vital to the final purchase of the vehicle

Negotiate, Negotiate, Negotiate 

People usually tense up when it comes to negotiation. Head into the conversation relaxed and make sure you are comfortable with the seller. Start with a low offer, but make sure it’s not too outrageous. Make sure you know exactly how high you will go before talks begin. Be patient, but never be afraid to walk out.

Close the Deal 

Before you make the final purchase, keep in mind that you have just bought a used car “as is”. That means there are no promises or guarantees after the sale is finished. After you have completed the purchase make sure the old owner has transferred title and registration to you. Also, make sure you update your insurance policy as soon as possible.

Team up with Financial One Credit Union to get a great interest rate and repayment options on your next used car loan! We provide helpful, member-focused service throughout the entire process.

Wherever you are, wherever you're going, we're here to get you there!

Money Saving Valentines Day Tips

Between the flowers, fancy restaurants and extravagant gifts, Valentines Day can end up being one of the most expensive days of the year. Making the perfect plans for you and your loved one can be nice to think about, but when you measure the costs, sometimes you can end up biting off more than you can chew chasing the movie-based romantic dream. This Valentines Day, keep in mind some of these money saving tips.

The Flowers:

Flowers are a quintessential part of the big day. When purchasing flowers, keep in mind that the longer they are kept cool, the longer they will last. Try not to buy flowers from venues that are outside, or kept somewhere too warm. Also, when buying flowers online, pick them up from the store. Most delivery trucks are not refrigerated and you never know which stop your flowers will be on. Look for tight bulbs in bouquets, cut the ends of the stems off after a day or two and use the food!

The Dinner:

Rule #1: stay away from restaurants! Most places are nearly impossible to get into without a reservation a month in advance, and when you do get in they can be crowded, loud, and anything but romantic. Instead, pick another area of your home to have dinner. Sprinkle some flower petals on the floor, light some candles, and even a delivery pizza will seem much more intimate and romantic (not to mention lighter on your wallet!)

When it comes to the dessert, go for something light after a big meal. A small sorbet does wonders. Also, most people do not know the difference between good champagne and bad champagne. If you really want that extra boost for the evening, go for it, but we say skip the fancy bubbly.

The Gifts:

In times when DIY is all the rage, try out some new gift ideas made with your own two hands. A card hastily picked out from hundreds of options at a grocery store won’t hold a candle to one written in your own handwriting with construction paper hearts pasted to it. If you do go for the extravagant route, research before you buy. Online sites may say they are certified, but you cannot be sure of what you are getting until it arrives.

This Valentines Day, try something a little different. Saving money doesn’t have to mean skimping on the one you love. Try something new as a couple that you have never done before. You just might end up making memories far more special and any “store-bought” day will never be able to compare.

DIY Holiday Gift Ideas

Like many of us, you’re probably feeling the holiday spirit this season. While it is supposed to fill you with cheer, it can sometimes leave your wallet empty. Keep the spirit of giving going this holiday season with these inspired DIY gifts. Easy to create and fun to give, the magic of Christmas generosity lives on with a budget that even Scrooge would be comfortable with.

Paperwhites in Mason Jars

Happy little growers just add water.

You’ll need:

-Paper white bulbs

-Mason jars

-Colorful stones or glass

Your paperwhite bulb will not need chilling in order to bloom, and will grow easily without soil. You can find the bulbs at most gardening stores or nurseries. Fill mason jar ¾ full with stones, and set paperwhite bulb on top of stones. Secure lid over the bulb, allowing bulb to stick out of lid. Add a decorative flare with pine trimmings, twine or ribbon, and attach a homemade instructions card.

Stylized Porcelain Mugs

For the coffee enthusiast, a pretty way to brighten any morning.

You’ll need:

-Porcelain mug

-Sharpie paint oil based markers or Decoart glass paint markers

-Oven

Wash mug and stencil on design with pencil, or using painters tape. Draw design with paint markers (we like metallic gold for polka dots or chevron designs) and bake at 350 degrees for 20 minutes to set paint. Allow to cool in oven. Voila! Mugs are dishwasher safe, but for best long term results, hand wash only.

Coffee Bean Soap 

A little bit of homemade luxury.

You’ll need:

-1 lb package melt and pour soap base

-Ground coffee beans

-Milk and honey fragrance oil (find at any craft store)

-Soap mold

Measure out how much soap base you will need, per soap mold instructions and cut soap base into cubes for melting purposes. Place soap in microwave safe bowl for melting and heat at 15 second intervals, stirring between each, until soap base is melted. Once melted (be sure not to overheat), quickly add in coffee grounds and stir, adding in fragrance oil and stirring (fragrance will come with amount directions). Pour soap into molds, nixing bubbles on the top of molds with a spritz of rubbing alcohol if needed. Soap will take 1-3 hours to harden. Pop out of molds and soap is ready for gifting!

His Favorite Beer Glasses 

Turn used bottles into treasured glasses.

You’ll need:

-Favorite beer bottles

-Acetone

-Small dish and rag

-Scrap string

-Sandpaper

Fill sink with cold tap water and handfuls of ice. In a small dish, pour enough acetone to soak your string. Cut a piece of string long enough to wrap bottle 5-6 times around, and tightly wrap string around bottle where you want to separate the glass you’ll have from the top of the bottle. Tie a knot in the yarn and trim extra from ends; slip off of bottle and submerge in acetone. Slip soaked yarn back onto bottle where the cut will be made. Hold bottle horizontal over sink and light the string with lighter, rotating the bottle until flame burns out after about 30 seconds. Once flame burns out, submerge bottle and string in ice bath and the top should separate where the yarn was (if top does not come off, repeat process until bottle separates). Use sandpaper to smooth the edges, and you’ve got a guy-approved gift!

The holidays should be a season for spreading cheer and spending time with family and friends. Don’t let the financial strains of the season stop you from getting into the Holiday gift-giving spirit. From all of us at Financial One, we hope you have a safe Holiday season and a very happy New Year!

Holiday Scams and How to Prevent Them

‘Common Holiday Scams and How You Can Prevent Them’

For every family looking to enjoy a safe and exciting holiday season, there awaits a thief or criminal looking to take advantage of holiday goers. To prevent a Scrooge from harming your family and identity, take the following common holiday scams into consideration.

Gift Cards

Gift cards often are an excellent way to ensure that your loved one will receive something they love and will use. They are also one of the most common scams during the holiday season. Scammers take advantage of holiday shoppers by either scanning the magnetic strip on the card or by counterfeiting cards. To avoid this problem, consider purchasing cards from the customer service desk, and always ask for the card to be scanned if it is pre-loaded.

Delivery Targets

The holidays are an exceptionally busy time for delivery services. Many thieves take advantage of this and develop multiple scams involving delivery companies. One such scam involves leaving a notice at your door that states you missed a package and that you must call and arrange for delivery of the package. Once you call, the scammer asks for your personal and private information such as your PIN or your social security number. Call the postal office or delivery carrier to ensure if your expected package has arrived. Your local postal office, UPS, or FedEx does not require such personal information to deliver your package. Be wary of this very common scam.

Phishing Scams

Checking your email during the holiday season most likely means you are bombarded with emails on discounted merchandises, final holiday sales, coupons, and much more. While many of these emails may save you a ton in your holiday budget, be wary of emails and links that hold malicious malware and viruses. Identity theft would be a rather unwanted holiday present. Unfortunately, there is no surefire way to guarantee that an email is 100% safe, so if you are tempted by a link or offer, travel to the website itself to see whether the email was indeed legitimate.

Facebook and Grandparent Scams

Facebook hacks and grandparent scams are done year-round, but are even more prevalent during the holiday season. The scams often start with a social media account posting or a phone call claiming to be a loved one who claims to be in trouble and in need of some money. Often hackers will obtain personal information in the hopes of making the scam seem more authentic. To prevent this if you have a loved one traveling, consider setting up a secret code word or registering with the State Department's Smart Traveler Enrollment Program at https://step.state.gov/step/ to help with communication in emergencies.

Old Scams are Still Common for a Reason

Warning: Not all holiday scams happen electronically. Thieves can still act as door to door salesmen casing homes or criminals who tail delivery services and are prepared to snatch your package up when you are not home. During the holidays, people are generally in high and giving spirits. Unfortunately, scammers are more than prepared to take advantage of this. Fake charities often spring up looking for people to trick into donating. To ensure whether or not a charity is legitimate, check out www.charitynavigator.org.

Holiday scams occur nearly every year and it may be likely that you or your loved one may be a victim of a scam. To help ensure you are not, use common sense and read the fine print before giving your personal information away. Research and double check before each and every purchase. Or consider setting up a cash only policy in your household instead of a debit or credit card during the holiday seasons. Consider all these tips to have a safe and exciting holiday season.