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April 2013 Interest Newsletter
Financial freedom is only a decade away
Who wants to make a mortgage payment every month for 30 years when you can cut it down to just 10? You can own your home sooner with a Free & Clear 10-year mortgage. You’ll enjoy a fixed rate and a clear-cut monthly payment, plus a free appraisal (up to $400 value).
Apply online or call one of our Mortgage Originators today to get started!
| Sebring | (863) 382-3390 |
| Tampa | (813) 386-4201 |
| North Lakeland | (863) 937-7803 |
| Lakeland | (863) 688-8443 |
Offer valid as of April 1, 2013. Loan cannot exceed 85% loan-to-value. Offer available for primary and secondary homes only. Other convenient terms available. Limited time offer. Certain restrictions apply. Credit approval required. MIDFLORIDA is an equal housing lender. Some MIDFLORIDA mortgages may not qualify for this offer.
Choose credit and enter to win!
Don’t forget to choose the credit option every time you use your debit card. With every signature-based transaction you complete through October 15, 2013, you’ll be automatically entered into a drawing to win a Chevy Camaro. Visit midflorida.com/vroom or any branch for a complete set of rules.
Meet your Personal Banker
Do your banking whenever and wherever it’s convenient for you. With our Mobile Banking services, you can use your iPhone or Android-based smartphone to check your balance, transfer funds, make loan and credit card payments, pay bills, send and receive payments with Pay-A-Person TM, and make deposits by taking photos of your checks. Download the MIDFLORIDA app today from your phone’s app store and enjoy the freedom of banking on the go!
Online Banking is required to access mobile banking and mobile deposit. The MIDFLORIDA mobile app is currently only available for iPhones and Android Phones.
Coverage Pop Quiz
A message from Heacock Insurance
Who is legally responsible for damages when your tree falls on a neighbor’s property?
If strong winds cause a tree on your property to fall and damage your neighbor’s home, you might think you are legally responsible for paying to repair the damage. However, the truth is that your neighbor would have to submit a claim to their homeowner’s policy to cover any necessary repairs. Since your insurance carrier doesn’t have to pay, your policy won’t be affected, meaning your insurance premiums aren’t likely to increase. However, you may not escape a liability claim if your neighbor decides to sue you to cover their deductible.
Contact the professionals at Heacock Insurance for answers to questions like these or any other insurance-related queries, including a free policy review.
- Lakeland (863) 683-2228
- Sebring (863) 385-5171
- Toll Free (800) 677-5172
MIDFLORIDA is not affiliated with Heacock Insurance.
Simple. Reloadable. And coming soon…
Stay tuned to midflorida.com for a new account to be launched soon. Debit Card Banking will allow you to load funds onto your debit card, without all the fancy add-ons our other accounts feature.
If you like banking with us, you’ll love working here!
Check out our employment opportunities online by visiting midflorida.com/career-center and complete an application to join our team.
Changes to Direct Touch
A few changes are in the works for the Direct Touch telephone banking system to improve functionality and accommodate members with multiple accounts. Please listen closely to each menu choice to ensure you select the option you intended.
Upcoming Events
Visit one of our branch celebrations to see the newly remodeled interiors at these locations:
Friday, April 5
Lake Wales
237 SR 60 West
Bay Pines
10,000 Bay Pines Blvd
Friday, April 19
Central Vero
2800 20th Street
Sebastian
11638 US Hwy 1
Join us for the 2013 MIDFLORIDA Mayfaire by-the-Lake, one of Florida’s premier outdoor art festivals:
Saturday, May 11 – Sunday, May 12
Shores of Lake Morton in Lakeland
Quarterly Security Tip
Follow these best practices for optimal online security:
- Install and update anti-virus and spyware detection software, as well as a firewall.
- Keep your computer up-to-date. Use automatic downloads to make sure that your operating system and application patches are automatically updated when released by the vendor.
- Delete emails from unknown sources without opening them, especially those with nonsensical information or typos in the subject line.
Your privacy is important to us!
Please see our Privacy Policy to learn how we collect and use your information. You should save or print a copy to keep with your other important account records.
Summer Holidays
All branches will be closed to observe the following federal holidays.
- Monday, May 27 – Memorial Day
- Thursday, July 4 – Independence Day
Working with a Financial Professional
Proper long-term financial planning requires time, skill, discipline, and confidence – a combination that many individuals may lack. It’s understandable that so many individuals are reluctant to take on the responsibility of researching and implementing their own investment programs. If you find yourself in this situation, it may make sense to consider working with a financial professional.
A qualified financial professional is trained to estimate your financial needs, minimize the impact of taxes, and pursue portfolio diversification. Moreover, a good financial professional can help reduce the emotions involved in decision making and keep your long-term strategy on track.
Whether you are an experienced investor or just starting out, a financial professional can help support your financial goals and bring clarity to issues you may not have thought about, such as:
- Income and savings – This may be a particularly important topic if you anticipate changing jobs, starting a business, or staying home to care for children.
- Retirement – An investment professional can help you calculate your goals and evaluate your investment risk tolerance.
- College – An investment professional can help you take advantage of the often-complex governing educational funding and financial aid.
- Estate planning – Having a tax-efficient plan for the distribution of assets to your heirs may allow them to keep more of the money you accumulated during your lifetime.
- Contingency fund – Thinking about the possibility of a job loss or illness is not pleasant; however, an investment professional can help you work toward building a surplus for unexpected events.
Preparing for Your First Meeting
To help you create a formal financial plan, your financial professional will need to assess your personal situation, including your tolerance for risk, current portfolio allocation and time horizon, among other matters. At your first meeting, you may want to bring important documents such as wills, insurance policies and savings and investment account statements. The more information you can provide, the easier it will be for your advisor to get a clear understanding of your situation and goals. Some investment professionals use a series of worksheets to identify a client’s current financial circumstance and to design a personal plan of action.
Because a financial plan is a long-term, working document, it makes sense to meet with your professional at least once a year to make adjustments for any changes in lifestyle and market conditions.
Building a relationship of trust takes time. The sooner you contact a financial professional, the sooner you will be able to take charge of your finances, simplify your financial life and devote your energy to other important matters.
This message brought to you by MIDFLORIDA Member Investment Services
- IRA rollovers
- Florida D.R.O.P.
- 401k rollovers
- Retirement income
- Retirement plans for small businesses
Call for an appointment today! (813) 386-4203
| | | |
| Not NCUA Insured | No Credit Union Guarantee | May Lose Value |
Securities offered through LPL Financial, member FINRA | SIPC. Insurance products offered through LPL Financial or its licensed affiliates. MIDFLORIDA Credit Union and MIDFLORIDA Member Investment Services are not a registered broker/dealer and are not affiliated with LPL Financial.
January 2013 Interest Newsletter
Choose Credit and Make Vroom in your Garage
Don’t hold up the line counting cash or writing that check. When you’re out shopping or running errands, check out in the fast lane by using your MIDFLORIDA debit card. It’s quick and convenient and can be used anywhere VISA debit is accepted. Plus, with every signature-based (credit) transaction you make using your debit card through October 15, 2013, you’ll be automatically entered into a drawing for a Chevy Camaro. So ditch the checkbook and shift paying into high gear with your MIDFLORIDA debit card. Visit midflorida.com/vroom or any branch for a complete set of rules.
Enjoy the business advantage at MIDFLORIDA
Any business owner knows that change happens. Economic conditions deteriorate. The face of the workforce morphs into something unfamiliar. Blogs and other social media create a whole new dimension. In this environment, it takes more than a great business idea to run a successful
company; you must be flexible and able to adapt, as well.
MIDFLORIDA understands that you have to stay on your toes to compete successfully. Fortunately, we’re here to help you avoid being caught flat-footed. We’ll help your business adjust to the changes and surprises that come your way.
We work at being agile, too. That starts with local decisions so we can respond quickly and effectively
to your needs. Our Business Services team appreciates the unique challenges and opportunities facing your business and can provide tools you need to meet them. Call to speak to one of our professionals today!
Lakeland and West Polk County
Cameron Brock (863) 616-2162
East Polk, Highlands, Hardee, DeSoto, Okeechobee and Indian River counties
Dan McCullough (863) 293-5196
Hillsborough, Pinellas and Pasco counties
Tim Franke (813) 386-4311
Hank Todd (813) 386-4312
60th Annual Meeting of the Membership
Tuesday, April 9th at 6:00 pm
MIDFLORIDA Tower
5th Floor Community Room
129 S. Kentucky Avenue, Lakeland
See information sheet for details and board member nominations.
U.S. Treasury retires the paper check
Are you currently receiving Social Security, VA or other federal benefits by paper check? The Treasury Department is phasing out paper checks and requiring federal benefit recipients to get their payments electronically. By signing up for direct deposit, you’ll receive your payments safely and conveniently without the risk of stolen checks and forged signatures. But hurry, the deadline to switch to electronic payments is March 1, 2013.
For more information, or to sign up for direct deposit, visit www.godirect.gov or call (800) 333-1795.
Instructions on how to locate your account information to set up direct deposit can be found on our website at midflorida.com/resources.
Welcome Indian River members!
Now that the conversion is complete, we’d like to welcome all our new members from Indian River County! As official members of the MIDFLORIDA family, you are now able to use any of our convenient branch and ATM locations across Central Florida. Also, your debit card is now eligible to earn rewards! Simply choose credit with every purchase you make, and you’ll earn 10¢ for your child’s school or for an environmental cause. Or, if you’d prefer, you can choose to receive 5¢ back with our Rewards for You program. And after 19 credit transactions per month, your reward will increase to 10¢ per credit transaction. For more information and to enroll your debit card today, visit midflorida.com/rewards.
Indian River County branch locations:
Sebastian – 11638 U.S. Hwy. 1, Sebastian
Central Vero – 2800 20th St., Vero Beach
Resolve to review…and save!
A message from our insurance partner, Heacock Insurance
Many New Year’s resolutions never make it to January 2, but here’s one that’s easy to keep. Let the experts at Heacock Insurance review your insurance policies to make sure you’re getting the best coverage at the lowest price. They can take a look at your existing policies and compare them to leading carriers such as Nationwide, Travelers, Safeco, Chubb, Hanover and others. And best of all, they’re able to quote all lines of insurance from coast to coast – so you only need to make one call to ensure you’re getting the best deal.
Call Heacock Insurance today for a quick, free policy review.
- Lakeland (863) 683-2228
- Sebring (863) 385-5171
- Toll Free (800) 677-5172
Holiday Closings
MIDFLORIDA branches will be closed to observe the following federal holidays:
- Monday, Jan. 21 – Martin Luther King Jr.’s Birthday
- Monday, Feb. 18 – Presidents’ Day
Safety tip of the quarter
If it seems too good to be true – it probably is
Be careful of finding great deals on the Internet from websites that you don’t already have a relationship with or know from reputation. Don’t assume that because a site shows up in a Google search that it’s been evaluated in any way. So before you purchase those discount airline tickets with your debit or credit card, do a little research on the business first before you trust its website.
Budget your way to extra savings
Investing a few hours to create and maintain a household budget may be the key to identifying opportunities to save more for the future, including for long-term goals such as retirement. Yet it’s surprising how few households take the time to commit to a budget. Many financial experts recommend making time for this task, which could pay dividends down the road.
Get a grip on your money
Finding the extra money to save is not always easy. The good news is that many families realize they spend money on nonessentials – such as eating out and specialty coffees. These are expenses that can often be reduced with the aid of a budget. A budget may also help you reduce large expenses to make room for savings. For example, if your transportation costs are considerable because of a long commute to work, look into carpooling with a colleague or working at home periodically.
Budget basics
The first step is to understand and summarize your various sources of income, which may include earnings from a job, alimony, real estate income, and income or dividends from investments. Next, determine how you spend your money. Start by tracking your spending for a month. Gather bills and receipts, and don’t forget things like an occasional splurge on new shoes or a cup of coffee.
You may want to group expenses into the following categories:
- Fixed committed expenses, such as mortgage, loan and insurance payments that are the same from month to month.
- Other committed expenses, which are things you can’t live without, such as food and clothing.
- Luxury expenses, which are things you like but don’t necessarily need.
You can tally your income and expenses in writing if you prefer. Or consider trying one of the many online budgeting programs to help get you started.
At the end of each month, see how your actual spending stacks up against your budget and how much income is left over. When looking for places to cut additional costs, start with luxury expenses, followed by other committed expenses.
Budgeting will initially require some extra work and organization. But a little extra effort now can go a long way toward helping you pursue your financial goals.
This message brought to you by MIDFLORIDA Member Investment Services
- IRA rollovers
- Florida D.R.O.P.
- 401k rollovers
- Retirement income
- Retirement plans for small businesses
Call for an appointment today! (813) 386-4203
| | | |
| Not NCUA Insured | No Credit Union Guarantee | May Lose Value |
Securities offered through LPL Financial, member FINRA | SIPC. Insurance products offered through LPL Financial or its licensed affiliates. MIDFLORIDA Credit Union and MIDFLORIDA Member Investment Services are not a registered broker/dealer and are not affiliated with LPL Financial.
October 2012 Interest Newsletter
Pay-a-Person – No stamps or checks required
With MIDFLORIDA’s Pay-a-Person™ service, you can send payments electronically to anyone, regardless of where they bank, without giving out your account information. Pay your landscaper, the pool guy, or send money to a family member quickly and safely using Online Banking or Mobile Banking. For step-by-step instructions, you can view a tutorial on Pay-a-Person™ and other online services at midflorida.com/online-tutorials.
Brandon Grand Opening
We’re building a new branch in Brandon and will be relocating soon. Keep an eye on midflorida.com for details of our Grand Opening Celebration in early November.
825 W. Brandon Blvd., Brandon
Mergers = more locations for you!
Once the upcoming mergers with Bay Pines Federal Credit Union and Indian River Federal Credit Union are finalized, you’ll have additional branches available to you on both sides of the state. Stay tuned for updates on these new locations.
Spanish Mobile Banking
Now available to our Spanish-speaking members – Mobile Banking in Spanish! If your web browser language is already set to Spanish, Mobile Banking will change automatically. Or to manually adjust this setting, go to Settings from the Main Menu screen and select Español under Language Preference.
Introducing MIDFLORIDA Member Investment Services
MIDFLORIDA now has a department dedicated to helping our members meet their investment and retirement needs. Start planning for your future – contact a financial advisor with MIDFLORIDA Member Investment Services/LPL Financial today.
Call (813) 386-4203
Securities offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates.
Not NCUA Insured | No Credit Union Guarantee | May Lose Value
Get ready to shop your socks off!
Holiday Club checks will be mailed the first week of November.
Are your auto insurance premiums going up?
A message from Heacock Insurance
When it comes to getting the best deal on your auto insurance, you don’t need to shop around. Let the insurance experts at Heacock Insurance review your existing policy and compare coverages with leading carriers such as Nationwide, Travelers, Safeco, Chubb, Hanover and others to get you the best coverage at the best price. Plus, you may qualify for discounts such as multi-car, paid-in-full, good driver and homeowner discounts. Call the qualified professionals at Heacock Insurance today for a free, no-obligation quote.
Lakeland (863) 683-2228
Sebring (863) 385-5171
Toll free (800) 677-5172
Important notice about certificate withdrawals
Beginning December 1, the penalties for withdrawing funds from a certificate before maturity will change for all new and renewing certificates. Penalties will be based on the term of the certificate and calculated on the amount withdrawn as shown in the chart below. The penalty charged may reduce principal if the accrued dividends are not sufficient to cover the penalty.
| Certificate Term | Early Withdrawal Penalty |
| 31 days or less | 7 days of dividends |
| 1 month – 18 months | 9 months of dividends |
| 19 months – 24 months | 12 months of dividends |
| 25 months – 48 months | 24 months of dividends |
| 49 months or greater | 36 months of dividends |
Of course, penalties may be waived in certain circumstances, such as the death or incompetence of an account holder, or if the certificate is part of an IRA or other tax-deferred savings plan. See an associate for more information.
What to keep? What to toss?
Everybody has a paper trail – everything from utility bills and financial statements to tax records and receipts. With so many records it may be difficult to determine which you should keep (and for how long).
Filing and organizing records is critical to maintaining healthy finances. Not only will tax time be easier, but your spouse and other family members will be able to locate important information should the unexpected happen to you.
Following these guidelines may help you organize your records.
- Utility bills: Throw out (unless you need them for tax purposes).
- Tax records: Most experts recommend destroying these after seven years.
- Insurance records: Keep for the life of your policy.
- Life documents (birth certificate, marriage certificate, diplomas, divorce decrees and military records): Store in a safe deposit box indefinitely.
- Homeowner records (deed and title to your house): Do not throw away.
- Life- and estate-planning documents: Keep the most current copy.
- Receipts for major purchases, such as furniture and electronics: Keep as long as you own the item.
We can help keep your records secure
Safe deposit boxes at MIDFLORIDA are a secure way to keep original copies of your most important documents. We offer a variety of sizes to fit your unique needs. For a list of branches that offer safe deposit boxes, visit our website at midflorida.com/safe-deposit-boxes or call the Help Desk for more information.
Holiday Closings
All branches will be closed to observe the following federal holidays:
Veterans Day – November 12
Thanksgiving Day – November 22
Christmas Eve – December 24 (close at 1:00 pm)
Christmas Day – December 25
New Year’s Day – January 1
MLK Jr.’s Birthday – January 21
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