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8 Valentine’s Day Hacks

Celebrate the significant other in your life without breaking the budget by using these hacks!

1. Dine In

Restaurants sometimes up their prices when the whole world is going out to eat, so you’ll likely be paying extra just because it’s Valentine’s Day. Instead of shelling out big bucks, cook up a gourmet meal at home. Don’t forget to set the ambiance with candlelight and soft music!

2. Explore the great outdoors

It may be cold out, but you can still spend some shared time together outdoors. Bundle up and take a refreshing walk under the stars. Watch the waves crash onto the shore at a beach. If it’s snowy out, let your inner child free and build a snowman together.

3. Laugh it out

Check out the local comedy club together for a rollicking good time that can cost as little as $5 each.

4. Hit the gym

Gym memberships and day passes usually decline in February when many people have abandoned their New Year’s resolutions to get fit. A shared workout can be a great bonding experience that’s good for your health and your wallet, too.

5. Make a memory box

Instead of expensive gifts, take a walk down memory lane together by making a memory box. Cover a small container in decorative material, or spray-paint it in your chosen color. Then throw in mementos you have saved up from your months or years of dating.

Grab a tub of ice cream and enjoy a wonderful evening reliving some of your best shared moments.

6. Get cultured

Give your dating life a refreshing twist by visiting a local museum! Choose a place with displays that appeal to each of your interests. Studying works of art or historical artifacts makes for fabulous conversation.

7. Gift them with a gesture

Everyone has a guilty pleasure they can’t get enough of. Give your partner an all-out indulgence fest this Valentine’s Day for a truly thoughtful gift. If your significant other loves waking up to a huge stack of pancakes, surprise them with their dream breakfast-in-bed. If they have a thing for Snicker bars, fill a huge, funky container with their favorite chocolates.

You can also offer to do a household chore you know your partner loathes, like doing laundry. Decorate a small piece of cardstock and write up a “certificate” that gifts the recipient with four loads of laundry, washed, dried and put away. It won’t cost you anything, and it’s sure to put a smile on your partner’s face!

8. Movie matinee

Instead of paying full price for movie tickets, see your favorite picture at a daytime matinee. You’ll save a bundle on tickets just by going a bit earlier in the day. Theaters are also less crowded during the afternoon, making for a more enjoyable experience all around.

Posted in Hello World

Give Yourself the Gift of Financial Flexibility this Holiday Season with SRI Federal Credit Union’s Skip-a-Pay Program!

Are you looking to make this holiday season truly magical? At SRI Federal Credit Union, we’re here to make your dreams come true! Our exclusive Skip-a-Pay program – the perfect gift for your wallet this holiday season. It’s the season of giving, and we want to give back to our valued members by offering you a little extra financial breathing room.

The Gift of Financial Freedom

Unwrap the Joy of Financial Relief: Imagine having extra funds during the holidays to cover gift shopping, festive feasts, or even that winter getaway you’ve been dreaming of! With our Skip-a-Pay program, you can skip a payment on your eligible loan this season without any upfront cost.

How It Works: When you choose to skip a payment, you’ll enjoy a month of financial freedom while still celebrating the holidays in style. The best part? Skipping a payment won’t cost you a dime. There’s no need to worry about additional fees or hidden charges.

Benefits of Skip-a-Pay:

Help Your Cash Flow: Keep extra money in your pocket this holiday season.

Easy Eligibility: Just meet a few simple criteria to qualify.

Stress-Free Process: No complicated paperwork or hoops to jump through.

🎁 Eligibility Requirements: 🎁

To be eligible for SRI Federal Credit Union’s Skip-a-Pay program, all you need to do is meet the following simple criteria:

No Recent Skip-a-Pay: You must not have used the Skip-a-Pay option in the last six months.

Current Loan: Your loan must be up-to-date and in good standing with us.

Member in Good Standing: Maintain a positive relationship with your credit union.

Experience the Holidays with Peace of Mind

At SRI Federal Credit Union, we understand that the holidays can be a stressful time for your finances. Our Skip-a-Pay program is designed to bring you the joy of the season while ensuring your cash flow remains healthy. While interest may continue to accrue, you can breathe easy knowing you have more flexibility during this special time of year.

The Gift That Keeps on Giving: Secure your financial peace of mind this holiday season. Skip-a-Pay allows you to cherish the moment without worrying about a tight budget.

Click HERE to Apply Today!

Don’t let financial stress steal the joy of the holidays. Take advantage of SRI Federal Credit Union’s Skip-a-Pay program to put a smile on your face and a little extra jingle in your pocket.

Give yourself the gift of financial flexibility. Contact us today to learn more about our Skip-a-Pay program. Make this holiday season unforgettable with SRI Federal Credit Union.

🎄 Happy Holidays from SRI Federal Credit Union! 🎄

Posted in Financial Literacy, Hello World

Don’t Let The P2P Scams In The Door

P2P platforms, like Zelle, Venmo and PayPal, have made life so much easier for many consumers. Paying your friend back for the $20 you borrowed while at the mall, splitting a meal and purchasing a shared gift are now as easy as a few quick screen swipes. Unfortunately, though, P2P scams are rampant and varied. Also, once money is transferred through a P2P service, it’s usually gone for good.

Here are six P2P scams to beware of:

Mystery money
In this P2P scam, a stranger “accidentally” sends the target money and then reaches out to them, asking for their money back. The target will see these funds in their P2P account and willingly return the funds. Unfortunately, though, because this money was added to the target’s account using a stolen credit card or checking account, the platform will ultimately flag the transaction as fraud and remove the funds. If the victim already forwarded the funds to the scammer, the platform will hold them accountable for the funds and potentially block their account.

Hidden credit card fraud
In this P2P scam, a fraudster will purchase an item listed on Craigslist or a similar site using a P2P service. They’ll pick up the item, or have it shipped to their home, and they’ll never be heard from again. Meanwhile, the P2P platform will eventually recognize that the funds for the purchase were fraudulently sourced, and will take the money back from the seller. The victim will be left without the item – and have no money to show for it.

Fake customer representative
Customer rep scams are an old story, but their appearance in the P2P world is only as old as these payment platforms. In this scam, a target experiencing difficulty with a transaction on a P2P platform inquires about assistance on social media. A scammer sees that inquiry, and then reaches out to the target, claiming to represent the platform and offering their assistance. If the target falls for the ploy, they’ll be directed to a bogus support site where they’ll be asked to enter their account details or credit card info. This, of course, leaves them open to identity theft and financial loss.

Utility scams
Utility scams pulled off via P2P platforms follow the same script as the classic scam in which an alleged rep from a utility company reaches out to a target, claiming their service will be shut off unless a payment is immediately made. In this variation, the scammer insists on payment via a P2P service. Unfortunately, once the payment is made to this “service rep,” it can be impossible to reclaim the funds.

Password scam
In this P2P scam, an alleged representative of a credit union or bank will reach out to a target via text, asking if they approve a recent large P2P transfer from their account. The target will respond with a quick “no.” Next, the scammer will call the victim, again posing as a rep of their financial institution, and offer to assist them in reclaiming the allegedly frauded money. To do so, the scammer claims, the victim will need to share their Zelle login credentials. Unfortunately, if the victim shares the one-time passcode, the scammer will have the info they need to change the password and access the victim’s Zelle account. The scammer can now send themselves money through the victim’s Zelle account.

Bogus receipts
In this variety of a P2P scam, a scammer will insert themselves into a legitimate P2P transaction by digitally manipulating a screenshot to make it appear as if they have completed a part of an ongoing deal and insisting that you now owe them money. In truth, though, the transaction was never completed and, if you send the money, you’ll be sending it directly to a scammer’s P2P account.

Stay safe

Follow these rules when using P2P platforms:

Only send and accept funds from people you personally know and trust.
Always confirm that you’re interacting with the correct person by verifying their phone number at every stage of the P2P transaction process.
Call the P2P platform’s customer service number directly to resolve errors. Similarly, reach out to SRI Federal Credit Union directly if you receive notification of an allegedly frauded account.
After completing a P2P transaction, check your checking account to confirm you’ve actually received the promised funds.
P2P services are enormously convenient, but each transaction carries the risk of fraud. Use the tips outlined here to stay safe from P2P scams.

Posted in Fraud, Hello World

Navigating Government Shutdowns: Introducing SRI Federal Credit Union’s Assistance Loan

At SRI Federal Credit Union, we recognize that government shutdowns can bring unforeseen financial challenges that impact the lives of hardworking government employees. In times like these, we believe that support should be readily available, and that’s why we’re introducing our Government Shutdown Assistance Loan.

Posted in Hello World, Loans

Protecting Your Finances: How to Prevent Fraud in Your Credit Union Accounts

Hey there, savvy money manager! We’re living in an era where our wallets have gone digital, making it super convenient to handle our finances. But you know what else is on the rise? Yep, you guessed it – sneaky fraudsters and cyber tricksters. They’re eyeing your credit union and bank accounts, access to online banking and more. No worries, though! We’ve got your back with tips to help you keep your hard-earned cash safe and sound.

1. Be a Password Picasso:

Time to ditch those “123456” passwords, folks. Cook up something unique for each account – a mix of caps, numbers, and symbols. Let’s make those passwords as tough to crack as your grandma’s secret cookie recipe! And hey, while you’re at it, sprinkle in some two-factor authentication for that extra layer of security.

2. Play Account Detective:

Make it a habit to give your credit union statements, online banking moves, and HELOC transactions the eagle eye treatment. If anything looks fishy, call it out! Set up alerts to ping your radar whenever there’s a big change in your accounts – that’s your cue to go all Sherlock Holmes.

3. Keep Things Updated:

You know those software updates that pop up on your screen? Don’t swipe them away like last year’s fashion trends. They’re your secret weapon against sneaky hackers. Stay up-to-date on your devices, and those virtual bad guys will have a harder time knocking on your digital door.

4. Side-Eye Those Emails and phone calls:

Phishing is like the oldest trick in the book. These scammers send emails that look legit but aren’t. If an email asks for your personal info, like passwords or account numbers, don’t fall for it! Beware the crafty tactics of fraudsters who can spoof the phone numbers of your trusted financial institutions. These tricksters might call you, appearing to be your bank, credit union, or a retailer like Amazon, but don’t be fooled! Remember, authentic financial institutions will never ask you for verification codes or sensitive login information over the phone and retailers like Amazon will never transfer you over to your financial institution’s fraud department. If anyone does, it’s a major red flag. Stay savvy and keep your guard up against these shrewd scams to ensure your hard-earned money remains safe and secure. Remember, your financial intuition will never slide into your inbox or call you asking for a verification code to snoop around your account.

5. Safe Networks Only:

Picture this: you, sipping coffee at a cafe, handling your online banking on their free Wi-Fi. Now hit pause – that’s a prime-time spot for hackers to swoop in. Stick to secure networks for your money matters. Public Wi-Fi might be free, but the cost of compromised info is way too high.

6. Hide Your Docs:

Got important papers lying around? Lock them up like treasure! Keep physical copies of your bank docs, loan agreements, and IDs in a safe spot. For digital files, it’s all about the encryption. Password-protect those babies and keep them hidden from prying virtual eyes.

7. School Yourself:

Knowledge is power, folks! Your credit union and bank have your back with resources to school you on the latest fraud moves. Stay in the loop and read up – it’s like giving your brain a superhero cape against cyber baddies.

8. Sneak a Peek at Your Credit:

Peeping into your credit report isn’t just fun – it’s smart. Scan for anything odd. Did someone open a credit card in your name? Nope, not on your watch! Grab your free yearly credit reports and give ’em a good old once-over.

9. Be the Limit Setter:

Ever heard of setting transaction limits? It’s like locking your financial doors. Check if your credit union or bank lets you do this. If a scammer tries to hit you with a huge transaction, they’ll hit a brick wall instead.

10. Report, Report, Report:

Remember this golden rule: if you see something funky, say something! If anything smells off in your accounts, call your financial intuition right away. And remember, they’ll never text you for a verification code to hop into your account – that’s like giving a stranger your house keys.

There you have it, money maestro! With these easy-peasy steps, you’re arming yourself against the tricksters of the digital realm. So keep those passwords strong, your eyes sharp, and your financial instincts on point. Your money deserves nothing less than Fort Knox-level protection!

Posted in Financial Literacy, Fraud, Hello World

And The Winners Are…

Today, we are thrilled to celebrate the success of not one but two incredible events that brought joy and delight to our SRI Federal Credit Union community. With great excitement, we extend our warmest congratulations to the winners of the SRI Ice Cream event raffle and the Moffett BBQ event.

Posted in Events, Hello World

Your funds are safe and secured at SRIFCU

SRI Federal Credit Union is Safe and Secure

Our leadership is committed to ethical policies and practices that ensure the credit union and its members remain strong. All deposits are insured by the National Credit Union Administration to at least $250,000.

Share Certificates | A high-yield, short-term way to grow savings and secure funds for the future.

After you’ve started to save up some money, you’ll likely consider the many options for generating interest on your savings. Maybe you’re fortunate enough to have your emergency reserve fully funded, and you have extra money that you don’t want locked away in a long-term investment account. Share certificates earn higher yields than even the best savings accounts and are a great option if you are looking for a high-yield, short-term place to grow your money and secure funds for a large future purchase.

What is a share certificate?

A share certificate is an insured savings account that requires a set deposit for a set period of time, commonly referred to as a “term.” Unlike a traditional savings account, you cannot make withdrawals without penalty. Instead, your money is returned to you with interest after the predetermined period of time — as short as a few months and up to five years or more. The funds in these accounts will grow with a dividend rate that is generally higher than those of typical share savings accounts, and even some money market accounts, too. And because the interest rate is fixed, you can anticipate exactly how much money you will make over time.

When should you get a share certificate?

A share certificate can earn you more interest but restricts you from withdrawing money for a certain time period. What are your savings goals? Do you need a separate place to park some cash to save for a large expense like tuition, a down payment on a home or home improvement project, buying a car or taking a dream vacation? A share certificate allows you to save money while still earning interest, knowing it is safely out of reach, and will be a predictable amount when the time comes to use it.

How does share certificate interest work?

The interest that you earn depends on the amount of your deposit, certificate rate and term length. For example, a $10,000 deposit in a 15-month promotional share certificate with 4.25% APY would earn around $530 in interest at the end of the term. The same deposit in a regular savings account with a 0.35% savings interest rate (national average) would earn only $35 in interest in a year. That puts an extra $500 in your pocket, just by choosing to save your money in a high yield share certificate account. And don’t forget, share certificates earn compound interest—meaning that, the monthly interest you earn is added to your principal. Then that new total amount earns interest of its own, and so on.

Right now, you can take advantage of our 1-year New Money certificate to maximize your savings. Grow your savings with 4.75% APY** on a 1-year certificate today. Or choose another term length that works for your savings strategy. All our share certificates offer excellent yields and guaranteed returns.

Ready to open a share certificate?

If a certificate sounds like the perfect choice for you, give us a call or stop by one of our branches to learn more. At SRI Federal Credit Union, we are committed to giving your money its best chance at growth.

Saving now pays off later. Your future self will thank you.

*APY=Annual Percentage Yield
**Earn 4.50% APY with existing money or earn 4.75% APY with “New Money”. New money is defined as money not currently on deposit with SRIFCU.

Posted in Accounts, Financial Literacy

Device Advice: How to Keep Your Phone Safe from Fraud

Smartphones are the millennial’s answer to the disorganized life. You can buy practically anything with just a few swipes, schedule your appointments and store all your photos and home videos in this one, convenient location. [You can also manage your accounts, check your balance and deposit checks through SRI Federal Credit Union’s mobile banking app and/or website]. Unfortunately, all of that convenience comes at a price: Your mobile devices pose an inherent risk to your security if they fall into the wrong hands. The good news is, there are ways to protect your phone and your information from fraud.

Here are 6 tips for keeping your device safe and secure.

Keep your phone locked

If your entire life is on your phone, you run the risk of giving up complete access to your identity if your phone is stolen or misplaced. The best way to prevent this from happening is to have a lock on your screen. Opt for a physical lock if possible, such as fingerprint or face recognition; meaning no amount of automated password inputs can open your phone. Consider installing a tracking device/app on your phone as well to help you locate it and retrieve or erase the data if it gets misplaced. Finally, adjust your phone’s lock settings so the screen automatically locks after the shortest amount of time being idle.

Choose strong, unique passwords across all your devices and apps

Passwords should be a blend of letters with varied capitalization use, numbers and symbols. Be sure to use a different password for each of your devices, apps and other online accounts, and to change up your passwords approximately every six months. Don’t store the info for all your passwords in one location on your phone or have your device “remember” your passwords. If you find it challenging to recall all your passwords and login credentials, you may benefit from a password manager like Sticky Password or LastPass.

Browse safely

Follow these rules for safe online browsing:

Look for the padlock icon and the “s” after the “http” in the URL of each landing page you visit to ensure it’s a secure site.
Never share your personally identifiable information (PII) with an unknown contact.
If an alleged representative of SRI Federal Credit Union reaches out to you regarding an issue with your account and you’re unsure of whether this contact is legit, reach out to us directly through a secure channel to confirm your suspicions.
Don’t store your credit card info in online shopping accounts.
Keep your security settings current.
Avoid clicking on pop-up ads or links in emails from unverified senders.

Use secure Wi-Fi

The first thing many people do when they sit down in a restaurant, at a bar, or almost anywhere, is search for free Wi-Fi access. It’s an easy way to save on data, so why not? Simply put, using public Wi-Fi makes you vulnerable to hacking. It’s best not to use public Wi-Fi at all, especially when banking online. To keep your device safe while using public Wi-Fi, connect to a virtual private network (VPN). Changing your virtual network will protect your location and sensitive information from scammers. In addition, be sure to keep your own Wi-Fi locked to prevent strangers from accessing your network.

5. Encrypt your data

Your phone stores loads of your PII, which can make you vulnerable to identity theft if it’s stolen or misplaced. Protect your information by encrypting all sensitive data on your phone. Most phones have encryption settings, which you can enable easily.

To encrypt data on an Apple device, go to the settings menu, choose “Touch ID & Passcode” from the pop-up menu and follow the prompts to unlock your phone. When you’ve gained access, scroll down until you see the words “Data Protection”. If this feature is not enabled, enable it now. Your data is now unreadable.

If you own an Android phone, charge your phone at least 80% and unroot it. Next, go to your security settings and choose “Encrypt Phone” from the menu. Encryption may take an hour or more.

Install antivirus software on your phone

The same antivirus programs that protect your laptop can also keep your phone secure. Check out security programs for phones, like McAfee or Norton 360. Antivirus software will provide your phone with protection from security breaches and attacks from scammers.

If you believe your device has been compromised, and/or you’re vulnerable to identity theft, notify SRI Federal Credit Union immediately. Alert the FTC as well.

Smartphones bring a lot of convenience into our lives, but they carry an inherent security risk. Use the tips outlined here to keep your device safe from fraud.

Posted in Financial Literacy, Fraud, Hello World

The Post-Holiday Budget Recovery Guide

The holidays are over, and if you’ve gone over budget with your spending, it’s time to deal with the aftermath. Instead of living in a financial deficit, take steps to repair your budget as soon as the last guest leaves.

Here’s how you can get your budget back on track for the new year.

Review your holiday spending

Before you take steps toward financial post-holiday recovery, take stock of your finances. How much credit card debt did you rack up this season? Did you dip into a savings account that now needs to be replenished? Spend some time crunching the numbers so you have a better idea of what kind of recovery steps you need to take now.

Choose your recovery process

Once you’ve got your numbers clear, you’ll need to decide on a path toward recovery.

If you’ve really blown it this season, and you’ve got multiple credit card balances to pay off, you may want to consolidate your debt. You can accomplish this by taking out a personal/unsecured loan and then using the funds to pay off your credit card debt. You’ll be left with a single, low interest payment to make each month.

Alternatively, you can pay off one credit card bill at a time, maximizing payments on the bill with the highest balance, or the one with the highest interest rate, until it’s completely paid off. Once you’ve crossed one balance off your list, move on to the next until you’re debt-free. Don’t get stuck paying just the minimum balance on each card each month, or you may be paying those credit card bills for years to come.

Trim your budget

Take a close look at your monthly spending to find places to cut back. Are you paying multiple subscriptions each month for apps you never, or rarely, use? Those small fees can add up quickly. Can you cut back on your grocery bill? Perhaps you’re overdoing it on takeout or dining out. Is there any way you can negotiate with a service provider, such as cable or internet, for a better monthly rate? Maybe it’s time to shop around for a less expensive auto insurance policy. Trim the extra wherever you can to free up more money for paying down debt.

Put your holiday resources to work

Along with a pile of debt, the holiday season may have left you with some extra cash through work bonuses, tax returns and gift money. Put these resources to work by using a portion of this money, or even all of it, toward paying down your holiday debt. It may sting to use “extra” money for something as utilitarian as a credit card bill, but getting rid of the debt faster so you can return to your normal spending patterns can motivate you to make this choice.

Go on a shopping detox

Before the holidays, you shopped until you dropped and then you may have shopped some more. Now, it’s time for a shopping detox. Take a break from the mall this month and close all those open tabs presenting your favorite clothing brands. Resolve to swipe the plastic only for essentials this month, or at least to keep discretionary purchases to a minimum until your budget recovers. Trimming expenses is never fun, but remind yourself that it’s only temporary until you’re financially fit again.

Make a plan for next year’s holiday season

It’s never too early to start thinking about next year’s winter holidays. Instead of using the months before Christmas stressing out over how much you’re spending, and the months after the holidays stressing about paying your bills, pay a little bit toward your holiday expenses each month of the year for a much less stressful holiday season. When you open a holiday club account at SRI Federal Credit Union, you can set up an automatic monthly transfer from your checking account to feed your holiday savings.

If you blew your budget this holiday season, you’ll need to take steps to help your finances recover. Use the tips outlined here to get started.

Posted in Financial Literacy, Hello World