Back-to-Basics for Back-to-School

It’s back-to-school time here in West Virginia. For many families it can be time of great stress adjusting to a new routine. Getting your children off to a great start comes with some pre-planning to ensure that they are ready to dive into the new adventures that the upcoming school year holds.

• Adjust bedtimes accordingly – A great school day starts with a good night’s rest. While the summer months often mean later bedtimes, the school day starts bright and early, which means you should adjust your child’s sleeping routine to accommodate an earlier start.
• Morning routine – Getting the hang of the morning routine often takes a couple of weeks. Set your expectations for the details that need to be accomplished before your child heads out the door. This might include wake-up times, morning chores, breakfast, grooming habits, and when they need to be at the bus stop.
• Pack a healthy lunch – The food you feed your child is the fuel that helps their bodies function. Take your child to the grocery store and let them help you pick out healthy choices for their afternoon meals. In order to accommodate a busy morning, consider packing lunches the night prior. Additionally, there is no reason your child can’t pack their own lunch (with your guidance). Helping them make good choices early will set them up for a lifetime of good eating habits.
• Choose healthy snacks – In addition to lunch choices, it is important to have healthy snacks ready for your children when they get home from school. Fresh fruits, veggies, cheese or other small snacks are great options to tie them over between lunch and dinner.
• Study spaces – Create a space for your child to do their homework that is conducive to learning. In addition to being comfortable, it should be well lit have plenty of flat surfaces for writing, and within view of a parent who can monitor their working habits. Get them in the habit of going to this place after their snack so that they can get work done early and while their mind is skill focused on school.
• Create a family schedule – Fall schedules are packed with activities. Create a calendar so everyone knows what is on tap for the week ahead.

At Fairmont Federal Credit Union, we are here to serve your family’s financial needs. Visit us today to learn more about credit union membership.

How to Have a Worry Free Vacation

As summer begins, thoughts turn to the kids being out of school, warm weather and getting away for a vacation.. Preparing for a fun getaway adventure requires careful planning and preparation to ensure you enjoy happy memories for years to come.

Before you leave home

• Cover your bases – Make copies of all credit cards, travelers checks, identification and medical information that you will be bringing with you on your travels. Keep one copy with you and leave the other at home.
• Bring limited cash – Contact credit/debit card companies- So they are aware of your travel dates and possible purchases outside of your normal routine. You may even want to stash some extra cash in case of inconveniences or you lose your wallet.
• Give limited info on luggage – Don’t put your address on your luggage tags. Instead write your phone number as a method of contact.
• Check your home before you leave – Secure all windows and doors and arm your alarm system before you head out of town. Set automatic timers for your lights and turn on a radio to create the illusion that someone is home. Additionally, consider adjusting your thermostat and water heater for vacation settings.
• Don’t post on Social Media -  Post your vacation pictures when you return home. Announcing your plans on social networks can alert unwanted visitors to your home.
  

On your trip

• Use room safe – Only take the cash and credit cards you need for the day. Put your other spending money in your room safe. Additionally, do not leave any valuables such as computers, wallets or jewelry out in the open.
• Know where you are going – Before you venture out, ask the hotel staff if there are any areas you should avoid.
• Keep valuables hidden in car – Never leave souvenirs, wallets or other items that might catch the eye out in the open in your automobile. Lock them in the trunk or put them in the glove box.
• Use small denominations – Don’t display large amounts of money when making a purchase and keep the dominations to $50 or less.
  

At Fairmont Federal Credit Union, we offer our members a variety of credit and debit card options, many which offer rewards benefits. Contact us to find the right option for your needs. 

Giving Graduates the Financial Tools for Their Future

With graduation comes the promise of new beginnings, big and small. Students are planning summer trips, planning graduation parties and getting ready to go off to college. Funding this new road often requires graduates and their families to become creative with their finances. While scholarships, grants and funds from a summer job might help to ease some of the burden, often graduates need to apply for student loans to cover the remaining balance.

 

Types of Loans

While financial aid is generally lumped into the all-inclusive description “student loans,” there are actually several different options. For the most part they are divided into federal and private loans. Federal loans typically have lower interest rates and offer several repayment options; however, there is a limit to the amount of money that can be borrowed depending upon the grade level the student is in school. 

 

Many times after scholarships, grants and federal loans, students still have a deficit which requires them to apply for private loans to cover the balance. Private loans come from individual lenders and require a credit check for approval. These loans have a variety of different interest rates and limited repayment options.

 

Payment Process 

Once college graduation occurs, loan providers typically provide a six-month grace period before repayment starts. It is important to get organized during this period to ensure you are prepared to start payments. If you have several different loans, talk to your loan service providers about specific repayment options and determine the best plan for your financial picture. Additionally, consider setting-up auto payments so that you don’t have to keep track of multiple payments. Some private lenders might also lower your interest rate if you choose this option.

 

Loan Forgiveness

Depending upon your career choice, you might have a federal loan forgiveness built into your employment. This means that all or some of your loan might be canceled if you stay with the employer for a certain period of time. Volunteering for organizations such as the Peace Corps or AmeriCorps, working as a non-profit attorney, or starting a career as a teacher or medical professional are some examples of post-college paths that might offer this benefit.

 

If you are a recent graduate, contact the professionals at Fairmont Federal Credit Union to discuss your student loan options.  

Youth Learn Life Lessons with Mad City Money

For most kids, money management and strategic financing happens during a game of Monopoly or stretching the $20 their parents gave them to spend at the mall. Since 2008, Fairmont Federal Credit Union has been visiting local high schools to provide a crash-course for students on the up’s, down’s, and unexpected events of real-life finances, in a safe, fun environment. The program has reached over 1,700 students and the reactions are always eye-opening.

With the life-simulating game  “Mad City Money,” students are “transported” to the future with their fellow classmates and, much like real-life, randomly given a life-situation. Some students have just graduated college. Some are married with children while others are single parents. All have bills to pay. Some have credit card debt, others have medical bills, while others must make payments on student loans.

For the next three hours, students must build a budget based on their financial situation, select necessities like housing, food, childcare, and clothing through nine different merchants. All transactions are paid through a debit card and budgets must be regularly balanced, all while navigating the financial pits and peaks typical of real-life. The “Fickle Finger of Fate” falls upon many students, introducing sudden, and unexpected financial setbacks students must address and overcome.

Following this simulation, student’s reactions were of surprise and new-found appreciation for money management. One lesson the students said they learned was the importance of saving and having backup plans, with one student saying,”you should save for emergencies.” Another concept students recognized was the importance of knowing the difference between wants and needs. One student said, “you should make wiser choices by getting what you need first, and then if you have money left over you can buy things you want.”

Finally, many students expressed respect for the financial responsibilities their parents face. “I have a new appreciation for what my parents do now,” said one student while another simply stated, “I don’t like being an adult.”

In March alone, Fairmont FCU reached nearly 200 students through the Mad City Money simulation, providing an opportunity to learn important lessons on responsible financial management and planning. With nine locations across West Virginia, Fairmont FCU is a non-for-profit financial organization that is owned and operated by our members. We offer a range of banking services including checking and savings, online and mobile banking, direct deposits, personal loans, business loans, mortgage loans, and more.

To find a Fairmont Federal Credit Union near you, visit www.fairmontfcu.com or give us a call at 304-363-5320 for more information.

2017 Morgantown Home Show

Do you have questions about mortgages and what is the best plan for you and your family? If you’re looking for something fun to do this weekend, come on down to the 2017 Morgantown Home Show at the Hazel and J.W. Ruby Community Center at Mylan Park in Morgantown, West Virginia. There will be several opportunities to connect with business owners, see new products, and enjoy the home show put on by the North Central West Virginia Home Builders Association. Last year there were 140 exhibitors occupying 198 spaces with close to 10,000 attendees, making for great connections and the opportunity for goers to discover all the latest home trends. 

Fairmont Federal Credit Union will be there, and we would love for you to stop by and chat with us. There are several things that go into making a house your home. There’s flooring, windows, furniture, and decoration, plenty of good reasons to borrow. Finances are a huge aspect of a person’s life, especially when it comes to investing in your future. There are many financing options that you as a homeowner can choose from, but at Fairmont FCU, we want to give you the best and most affordable plan possible. 

Our members are entitled to competitive rates, flexible terms, and payments that they can afford. We’re a local business, so you can expect personalized service tailored to your specific needs from start to finish. You’ll be able to choose between adjustable and fixed rate mortgages with affordable closing costs. Our member’s needs are important to us, so your personalized service from a mortgage specialist will help you make the best decision when investing in your financial future. 

Stop by booth J3 March 10-12th, we would love to speak with you about how we can help with your homeownership process. As a thank you, you’ll receive complimentary items such as Shasta Daisy seeds - the perfect perennial to plant in the garden of your new home! For more information, you can visit our website or give us a call at (304)-363-5320, ext. 6038.

Robes for Recovery

Robes for Recovery is a community service project that supports breast cancer patients. The project was started in 2013, and dozens of robes were donated to area hospitals in the first year alone.

Robes for Recovery was founded by Debbie Droppleman, Chief Financial Officer of Fairmont Federal Credit Union, after she was diagnosed with breast cancer in 2007 and subsequently underwent radiation treatment. “When I began radiation treatment several years ago at Allegheny General Hospital in Pittsburgh, I was given a “dignity robe” that was made by volunteers and donated through the hospital. The robe was specially designed with Velcro closures up the center and sides for easy access. That smock has been with me for over 100 radiation treatments and every time I wear it I am grateful for the kind and considerate volunteers who support cancer patients with their love and handiwork. While dignity robes are routinely provided to cancer patients in the Pittsburgh area, they are not generally available in our area hospitals. It is for these reasons that Fairmont Federal Credit Union employees are eager to commit their time and resources to producing radiation robes for breast cancer patients in our communities,” Debbie said of her experience that inspired Robes for Recovery.

After she came up with the idea, she presented it to the Fairmont Federal Credit Union management team. They loved the idea, and Robes for Recovery began as a community service project. Robes for Recovery relies on volunteers to either sew or do fundraising to make the creation of these wonderful robes a possibility. Robes for Recovery has been a great success and has so far created more than 700 robes!

Robes for Recovery Mission Statement:

We Have Hope

Our hope is that by providing specially tailored radiation robes to breast cancer patients, we will help them maintain their pride and dignity during their journey through treatment toward recovery.

We Have Faith

We have faith that we will raise sufficient funds from donations and recruit enough volunteers to sustain our project.

We Have Commitment

We are committed to honoring and supporting breast cancer patients by giving these garments with love, kindness, hope and care.

For questions or to volunteer for this worthwhile community service project, please call Debbie Droppleman, Robes for Recovery Coordinator, at 304.363.5320 ex. 6028 or email her at ddroppleman@ma.rr.com.