Archive for March 2020

9 Tips to Bring New Life to Your Finances

When spring is in the air, it’s time to put away those winter sweaters and pull out your summery shorts. It’s also a great time to clean your financial house, casting aside old habits and starting new ones. As flowers begin to bloom and birds return to their nests, give yourself a fresh financial start, too. 

Here are nine ways to clear the cobwebs from your wallet and get your financial plan neat and tidy for 2020.

  1. Review your spending, create a budget and set up automated savings

If you don’t have emergency savings, you’re not alone: Nearly 60% of Americans don’t have enough money to cover a $500 emergency, according to a Bankrate survey. Increasingly, workplaces are helping people to contribute to an emergency fund alongside retirement plans like 401(k) accounts, and if that option is unavailable, individuals can use direct deposit to set aside emergency funds.

  1. Throw away your debt

Debt is like that clutter in the closet that’s taking up space you need for something else, including reaching goals like buying a new home. Just as you’d go through your closet, start out by assessing the debt you already have. While you may not be able to pay everything off, with some discipline you can make real changes.

  1. Perform your own self-evaluation to keep your career growing

Take stock of where you are at work, including your salary. Check the salary range for your job, know what you’re worth and create a negotiation plan. If 2020 is the year you need to take a career break to take care of your family, think about how to maintain your skills through volunteering or continued learning while you take time off from paid work.

  1. Spruce up retirement plan contributions

If you began the year with a raise, a good bonus or even got a great tax return, you likely have already begun planning a summer vacation, started looking at new cars or making other plans. Consider setting some of that aside for the future by adding to your workplace account or in an individual retirement account.

  1. Review your tax withholding

If you got a big tax refund in 2019, it likely feels like a bonus. But it really means you were paying more than you should have last year, giving Uncle Sam money that you could have put to work for your own needs. Set up withholding so that you get the most out of your paycheck through the year without owning any money at tax time in 2021.

  1. Dust off your estate plans

Doublecheck your list of beneficiaries to see if anything has changed in the last year. A change in any relationship, like getting married, will likely prompt an immediate change. Also consider whether any life changes would impact elements of an estate plan, including any power of attorney documents.

  1. Review insurance needs

Spring is a great time to consider whether any life changes, like having a newborn or getting married, create a need for financial protection. If someone depends on your income for any number of reasons, it’s worth considering whether life insurance will work for you. It’s also a great time to review homeowners or rental insurance policies as well.

  1. Put a new shine on your financial plan (with an adviser)

Whether it’s an accountant for tax planning or a financial adviser for investment and insurance advice, it’s important to find a professional who can help you review your accounts and provide recommendations on how to best reach your financial goals. In current volatile markets, for example, it’s important to know what’s happened in your portfolio and to use any investment losses to reduce capital gains taxes.

  1. Sow the seeds of your financial future

Begin to think about financial goals for the rest of the year and beyond — what seeds can you plant today to reap the rewards you seek? Focus on what you want for yourself and your family, with a near-term budget and some long-term ideas, including saving for retirement. Do you want to go on a big family vacation this summer? In retirement, do you want to live in an urban area and volunteer? Do you want to climb mountains?

As you shake the dust off your financial plan and imagine your future, cleaning house can help you understand how much it will cost and start thinking about ways to keep you finances in order throughout the year ahead. The sky’s your limit.

Source: Kiplinger

 

Coronavirus Updates

Important Update on our Branch

July 8, 2020

AllCom Credit Union will reopen our branch lobby effective Monday, July 13, 2020.

We will allow lobby access to a limited number of members to ensure compliance with governmental guidance on occupancy limits and social distancing.

IMPORTANT NOTICE
Prior to entering the building, please call our main number at 508.754.9980 when you arrive. We will let you know if you are able to enter right away or if you should wait in your car until we call you back.

We are strongly encouraging members to continue to use our drive-up windows along with our electronic services to perform standard transactions. While not required, appointments are also strongly encouraged to minimize wait times for new accounts, member services or loan applications and closings.

AllCom continues to follow the appropriate health guidelines of social distancing, requiring masks be worn when entering our lobby and ask that specific doorways be used when entering or exiting our building.

How we are prioritizing your safety:

The following safety precautions have been implemented:

  • Face masks must be worn when visiting our office in accordance with Governor Baker’s order.
  • Social distance floor markers and one-way enter/exit arrows have been placed in our lobbies.
  • Seating in lobby areas has either been removed or will have at least six feet of separation.
  • Hand sanitizer is available.
  • Plexi-glass barriers have been installed throughout our office.
  • Our restrooms are closed to the public until further notice.
  • We request that trips be limited to one person per household whenever possible.

If you have questions, please do not hesitate to contact us at 888.754.9980.

AllCom will continue to monitor the COVID-19 situation and will follow guidance from public health officials and government agencies, so we can continue to support our members and communities as safely as possible.


We are here for you.

May 12, 2020

AllCom is here to help you during these difficult times. Our team is ready to assist and help find the right solution for you.

We understand the uncertainty you may feel during this time and we are here to help. If your finances have been affected by COVID-19 and you are experiencing a financial hardship, are concerned about your financial well-being or are looking to better understand your financial options, please contact us.

Governor Baker issued an order, effective Wednesday, May 6, requiring face masks or cloth face coverings in public places. To ensure your safety, as well as the safety of others, AllCom is strictly enforcing these guidelines for any person entering the branch. Click here to learn more.

Be aware that criminals are attempting to exploit COVID-19 worldwide through a variety of scams. Click here to learn more about recent fake texts and robocalls.

Debit Card Fraud Alerts via Text

As a reminder, AllCom Credit Union will send you debit card fraud alerts via text message, telephone and Email. We will NEVER ask you to click on a link or enter your card information.

If debit card fraud is suspected, you will receive a text message and Email. You can communicate with our fraud department in real time and will be asked to respond Yes or No to confirm the legitimacy of a transaction.

Text messages will be sent between 8am and 9pm. If a transaction is declined outside of these hours, please check your email for more information.

To ensure you receive these messages, please contact us to update your information with your cell phone number.

Free Weekly Credit Reports

During these times, accessing your credit is especially important. Equifax, Experian, and TransUnion are now offering free weekly online reports through April 2021. These reports do not contain your credit score. Click here for more information.

If you have questions, please do not hesitate to contact us at 888.754.9980. If you are ever unable to reach us via the main number, please use an alternate telephone line of 508.754.5489 or email us at memberservices@allcomcu.org.

AllCom will continue to monitor the COVID-19 situation and will follow guidance from public health officials and government agencies, so we can continue to support our members and communities as safely as possible.


We are all in this together.

April 6, 2020

We understand the uncertainty you may feel during this time and we are here to help. If your finances have been affected by COVID-19 and you are experiencing a financial hardship, are concerned about your financial well-being or are looking to better understand your financial options, please contact us.

AllCom is here to help you during these difficult times. Our team is ready to assist and help find the right solution for you.

AllCom cares about your financial health and wants to ensure you don’t fall victim to a scam. Scammers are taking advantage of fears surrounding the Coronavirus. Though the reason behind their fraud is new, their tactics are familiar. Learn more about how to protect yourself.

If you have questions, please do not hesitate to contact us at 888.754.9980. If you are ever unable to reach us via the main number, please use an alternate telephone line of 508.754.5489 or email us at memberservices@allcomcu.org.

We are all in this together. We will continue to monitor the COVID-19 situation and will follow guidance from public health officials and government agencies, so we can continue to support our members and communities as safely as possible.


Coronavirus Update – Information about the branch

March 17, 2020

AllCom Credit Union has been consistently monitoring the recommendations of the CDC and local authorities. As a result, we have decided to close our main office branch lobby at 36 Park Avenue.  Although this was a difficult decision, we know it is in the best interest of the health and safety of our employees, our members, and our community.

Effective March 18, 2020 our lobby will be closed to the public. The drive-up teller will still be open during normal hours.

Our staff will still be available to assist you via the telephone. In-branch visits will only be allowed by appointment and for loan and mortgage closings when necessary. Please call 888.754.9980 to schedule any in-branch assistance you may need. 

AllCom is here to help you during these difficult times. If you have questions, please do not hesitate to contact us at 888.754.9980. If you are ever unable to reach us via the main number, please use an alternate telephone line of 508.754.5489 or email us at memberservices@allcomcu.org.

Please take a minute to become familiar with our remote services and contact us if you need any assistance:

Please continue to visit our website for the most up-to-date information regarding how the Coronavirus may affect AllCom’s functions and services.

We want to reassure you that all deposits are insured in full. The National Credit Union Administration (NCUA) insures up to $250,000 and the Massachusetts Credit Union Share Insurance Corporation (MSIC) fully insures the deposits in excess of the federal limit of $250,000. Click here for more information.

We want you to know that the health and safety of our members, employees and their families is always our top priority. We will continue to take the proper precautions to ensure our member’s needs are continually met.

Please stay safe and healthy.
AllCom Credit Union Staff


Coronavirus Update – A Message to Our Members

March 16, 2020

At AllCom Credit Union, we care about more than your financial health. We care about your total well-being. We would like to reassure you that we are continuing to closely monitor the situation and the health, safety and service of our members and employees is always our top priority. 

At this time, our operating hours have not been affected. However, we understand you might be taking more precautions and limiting your face-to-face activities outside the home. With this in mind, we wanted to remind you of functions and services available online and by phone.

Banking Remotely with AllCom Credit Union:

AllCom has all the tools you need to manage your accounts without needing to visit one of our physical branch locations.

This includes:

We continue to implement the following practices and policies in our branches to prevent the spread of illness and keep our members and our employees healthy:

  • Hand washing – Regular and thorough hand washing is one of the best ways to prevent the spread of viruses and bacteria.
  • Hand sanitizers – Our locations are equipped with hand sanitizers and wipes for members to use. Be sure to wash hands or use sanitizer before and after any transactions, including physical currency exchange or payments, card usage, and ATM transactions.
  • Disinfect – We are thoroughly wiping down countertops, surfaces and door handles throughout the day.
  • Employees – Our employees may use sanitary gloves when handling transactions as a precaution.
  • Keep Your Distance – We ask employees and members to limit physical contact with others to prevent the spread of illness.
  • Stay Home – Employees who do not feel well and exhibit signs of illness are asked to stay home and recover. If you’re not feeling well, you should stay home too!

AllCom Credit Union will keep you informed as updates become available. We send our hope that you and your loved ones remain healthy and we are here to assist in any way we can.

Visit the Centers for Disease Control and Prevention – www.cdc.gov for more information and updates regarding the Coronavirus.

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