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January 9, 2020
New Year, New You? Add a Financial Wellness Check-Up Too!
It’s 2020. New year, new decade. Like most folks, you’re probably thinking about some new year’s resolutions and personal goals. During this time of reflection and goal setting, we encourage you to take the opportunity to consider the following questions related to your financial wellness:
Are you saving enough?
You’ve heard the saying “A penny saved is a penny earned,” and now is the best time to take it to heart. Even if you can only take small steps toward your personal savings goals right now, start today so all those pennies can add up. Conventional financial wisdom says a savings of at least 6-months’ emergency expenses is an important milestone for everyone to reach. Got your emergency fund stashed already? Start saving for other things, like a vacation, new car or education costs. You can use Grow online and mobile banking1 for easy-to-use tools to set savings and budget goals and track your progress.
Do you have a plan to tackle high-interest debt?
It can be overwhelming to manage debt, especially if you’re paying too much on interest. Consider consolidating high-interest debt to one place at a lower interest rate so you can knock it out faster. Always pay off the most expensive debt first. And most definitely, pay more than the minimum balance. Paying only the minimum required prolongs your debt payoff. Strategic choices now can help you later, such as choosing to limit spending on nonessentials, halting spending on credit cards and making payments on debt from each paycheck, rather than only once a month.
Looking to consolidate credit card debt? The Grow Visa® Preferred Credit Card may be a great option for you, with fee-free balance transfers2 and a competitive rate.
Are you on track for retirement?
As a member of Grow Financial, you have access to financial planning services provided in contract with CUSO Financial Services, L.P.3 Whether you’re already saving and want to review your portfolio, or you’re new to saving and would like to create a retirement plan, our financial advisors can guide you along the way. Schedule a complimentary consultation today!
Completed the above check-up successfully or created your own action plan to address each of the topics? The results are in … and your financial wellness is looking great!
1Additional data charges may apply. See your wireless carrier for more information.
2Subject to credit approval. Introductory rate as low as 1.99% to 4.99% APR. The introductory rate is effective for the first six billing cycles on purchases and balance transfers. After the introductory period expires, or if you do not qualify for an introductory rate, your standard APR will range between 9.24% to 12.24% for purchases and balance transfers. This is a variable rate. The rate you receive will be based on your creditworthiness. This rate will vary with the market based on Prime Rate as published in the Wall Street Journal “Money Rates” table on the last day of each calendar month. The APR will not exceed 18.00%. If the minimum monthly payment is 60 days late twice in a twelve-month period, the rate will revert to a default rate of 18.00% for six (6) billing cycles. Other APRs: Cash Advances 18.00%, Overdraft to Share Account 18.00%. A finance charge of 1.00% will be charged on foreign transactions. Rates are effective as of 11/01/2019 and could change without notice. Annual Percentage Rate (APR).
3Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members. For specific tax advice, please consult a qualified tax professional.
How to Find Your Routing & Account Numbers
When you make a payment online, by phone or on a mobile device, you may be asked for our routing number and your checking account number. Credit unions and banks use these numbers to identify accounts and make sure money gets where it’s supposed to be. You’ll also need to provide your routing and checking account numbers for:
- Direct deposits
- Electronic checks
- Military allotments
- Wire transfers
Where to Find Your Routing & Checking Account Numbers
Your personal checks include both our routing number and your account number, as shown on the Grow check example below.
Don’t have a Grow check? No worries.
Visit any Grow store and ask for a Direct Deposit Form. It lists both your routing number and checking account number.
Making a Loan Payment
When it comes to making payments, we try to make it as painless as possible to pay your loan every month. We have several different ways to pay, including convenient online options.
You have two ways to pay online by transferring funds from another bank or credit union.
- Grow Online Banking (Preferred payment method for any loan)
This is the simplest way to pay your loan. You can make one-time payments or set up automatic recurring payments in Grow Online Banking. Once you log in, select “Transfer/Payments” from the menu. If you’re not enrolled in Grow Online Banking yet, you can set up your account in just a few minutes.
- Debit Card or ACH (Available for auto, personal loans and HELOCs)
Note: ACH and debit card payments are not available for credit cards or most mortgages, except HELOCs.
We accept ACH payments with no additional fees or Mastercard® and Visa® debit cards with a convenience fee of $4.95. To get started with an online ACH or debit card payment, select Pay Now below.
Pay by Mail
You can also pay any Grow loan by check through the mail. Please remember to include your account number and Grow loan number on the check. (For credit card payments, please do not write your 16-digit credit card number on the check, which can cause a delay in processing the payment.)
Address for auto, credit card, personal loan and HELOC payments:
Grow Financial Federal Credit Union
P.O. Box 75466
Chicago, IL 60675-5466
Address for personal first or second mortgages and home equity payments:
Grow Financial Federal Credit Union
P.O. Box 11733
Newark, NJ 07101-4733
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