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MANATEE COMMUNITY FCU SELECTS DIGITAL ONBOARDING INC. TO GROW NEW MEMBER ENGAGEMENT AND SATISFACTION

Authored By: Manatee Community FCU on 7/9/2019

Digital onboarding

Bradenton, FL (July 9, 2019) – Manatee Community Federal Credit Union selected Digital Onboarding Inc., a SaaS technology company that provides a fully automated new account activation platform, to grow engagement and provide a best-in-class banking experience for its expanding member base.

“At Manatee Community Federal Credit Union, we recently expanded our charter to serve members in Sarasota County, various employment groups, and associations and we want to ensure that we deliver a best-in-class banking experience, no matter where our members reside,” said Sherod Halliburton, CEO, Manatee Community Federal Credit Union. “Our team evaluated a number of digital platforms that could help us better engage and satisfy members and found that the Digital Onboarding platform was the best option in the market.”

Research has shown that consumers want frequent, quality communications from their financial institution, especially during the early days of the relationship. Yet, the 75-page Digital Banking Report, ‘State of the Digital Customer Journey,’ found that only 55% of financial institutions indicated that they had a structured ‘Thank You” onboarding process after account opening.

“Building member engagement is challenging, especially when members live outside of the primary branch service area,” said Ted Brown, Chief Executive Officer, Digital Onboarding. “With the Digital Onboarding platform, Manatee Community Federal Credit Union can deliver an exceptional banking experience to all of its members. We’re thrilled to be partnering with the credit union on this important growth initiative.”

About Manatee Community Federal Credit Union:

Founded in 1958, Manatee Community Federal Credit Union is located in Bradenton, Florida

and is the only credit union chartered in Manatee County. Manatee Community’s mission is -

“Strengthening communities and improving lives by providing access to affordable, high-quality

financial products and services.” For additional information, visit www.manateecfcu.org.

About Digital Onboarding Inc.
Digital Onboarding Inc. is a SaaS technology company focused on helping banking and credit union customers activate their financial services products. Digital Onboarding provides a fully automated new account activation platform that is more efficient and effective than traditional phone calls, emails, direct mail, and print brochures, driving profit by increasing new customer activation rates. For additional information, visit
digitalonboarding.com.

For Manatee Community FCU media inquiries, contact: Tameka Burch-Moore,
tbmoore@manateecfcu.org or (941) 941.748.7704 ext. 125. For Digital Onboarding media inquiries, contact: Laurie McLachlan, laurie@digitalonboarding.com or 617.921.2916.

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DIVORCE – A Rough Time

Authored By: Raymond James® on 6/27/2019

Divorce

Divorce is an emotional and financial time of stress. In a divorce case, the parties should be thinking at least of P.E.A.C.E. This acronym outlines some areas that should be addressed by agreement or litigation. The following is a brief discussion of a very complex topic. Parenting plan and child support. The parenting plan tries to lay out a plan of action for a child and their support for future years.
Equitable distribution. Equitable does not necessarily mean equal. You will get what you and your spouse agree to. If you can’t agree, attorneys may be called upon to represent each party and arrive at a plan. The plan is given to a judge in court for dissolution of the marriage.
Alimony. Alimony is the payment by one spouse to the other following a divorce. Factors include the standard of living, age, physical condition, earning abilities today and tomorrow, the contribution of each part to the marriage, inflation, etc. There are many factors to consider.
Contesting. Divorce can range from a relatively simple splitting of the marital assets to great disagreement. This may require each spouse to be represented by an attorney to finally arrive at a plan that may or may not be acceptable by each spouse. However, the plan is needed to give it to a judge.
Everything Else. Each party has different priorities and concerns in a divorce. There are many factors to consider. Knowledgeable people on your side can be comforting during this emotional and challenging time.
The following is a simplistic summary about the divorce process. It tries to indicate the flow from simple to complex.
1. Collaborative. The spouses decide how they want to divide their property, assets, etc. The spouses write the plan given to a judge who dissolves the marriage. One of the spouses can work with an attorney who will write the plan for review by the other spouse. If acceptable to both spouses, the attorney can deliver the plan to a judge.
2. Mediation + attorney. The spouses discuss with a mediator who helps them arrive at a plan to divide their property. The attorney usually presents the plan to the judge.
3. Two attorneys. Each spouse hires their own attorney. The attorneys representing their clients arrive at a plan to divide their property. Both attorneys usually present the plan to the judge.
Generally speaking, you should have a team on your side and consult with them even if you are thinking about divorce. They could be some of the following members of your team.
ATTORNEY: It is wise to hire an attorney. Divorce is a complicated legal process and you want
someone to legally represent your interests.
ACCOUNTANT: There are many items for review. They include stocks, bonds, 401(k), pension plans,
homes, insurance, etc. These items frequently involve taxation, gains and losses, determining the new
cost basis, and other tax matters. It is wise to hire an accountant, CPA, or Enrolled Agent to handle these
tax matters. Failure to do so could result in an IRS audit.
FINANCIAL PLANNER: The paperwork of splitting up stocks and other financial matters are handled by
a Financial Planner. The Planner follows the instructions for division as detailed in the court-ordered
plan. The plan often requires setting up accounts. There may be accounts for a 529 College Savings
Plan for the kids. Life insurance or other similar investments may be used in case one of the spouses
dies prematurely. An annuity could help ensure that the promised alimony, child support, and other
payments are made.
Divorce is rarely a fun time. With helpful friends and your team in place, you will get through it.
Jim Zientara is a Financial Planner with Raymond James Financial Services, Inc. Member FINRA/SIPC.
Investment Advisory Services are offered through Raymond James Financial Services Advisors, Inc. He
can be reached at 941-750-6818 or at www.thefinancialplanningguy.info with an office at 11009
Gatewood Drive, Suite 101, Lakewood Ranch, FL 34211. Any opinions are those of Jim Zientara and not
necessarily those of Raymond James.
This material is being provided for information purposes only, and is not a complete description, nor is it
specific investment advice. Consult a financial advisor about your unique situation. Raymond James
Financial Services and its advisors do not provide advice on tax or legal issues. These matters should be
discussed with a tax or legal professional.
 

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Don’t make these 5 mistakes with your pension plan

Authored By: Raymond James® on 6/14/2019

Pension mistakes

Don’t make these 5 mistakes with your pension plan

Let us guide you through your transition to retirement

Happily ever after is only the beginning.

Retirement isn’t what it used to be. It’s longer. It’s more active. And it’s harder to predict.

Many of today’s retirees can expect to spend 30 years or more enjoying the fruits of their labor. That’s why it’s increasingly important not simply to plan for retirement, but to plan for longevity in retirement – all of the years it might last, all of the ways your life will change and all of the events you can’t foresee.

Retirement planning is hard enough. Make sure you don’t make these 5 mistakes with your pension plan.

  1. Giving up control of your money

If you pick any of the pension payout methods offered by the pension plan, you are guaranteeing two things. The first is an income stream for your life, and the second is that you are giving up control of those assets forever.

Another alternative option available to you, would be to roll the pension lump sum benefit into an IRA without tax penalty, and invest the benefit assets. This could provide the same income stream and allow you to keep control of your money at the same time. You decide what to take out and when to take it. You also control where your money goes if you die.

  1. Making the wrong benefit election

If you didn’t roll your pension benefit to an IRA, you had to choose an income benefit election. Once you choose, there is no going back. So be certain you understand the choices before you make an election. Many people simply pick the highest monthly payout, but if something happens to them, their spouse is left with nothing. Do you know the difference between Single Life Annuity, Joint & Survivor Pop-up Annuity and Period Certain & Life Annuity?

  1. Leaving your loved one’s empty handed

If you pick Single Life Annuity as your monthly benefit, you will receive the highest monthly payout from the pension plan. But when you die, the pension plan keeps all the money they haven’t paid out to you. That’s a risky plan, even if you aren’t married or have children. Picture this scenario, you’ve worked your whole life to finally be able to retire and live out your days doing what you want. Sadly, you get hit by a car and die just two months after you retire. The pension plan paid out roughly $2-3 thousand dollars in benefits to you, and now they get to keep the Lump Sum benefit of hundreds of thousands. Wouldn’t you rather that money go to a relative or charitable cause of your choosing?

  1. No safety net

If you don’t roll your benefit over to an IRA, your choosing to receive a check a month from the pension plan. That means you won’t ever be able to get any extra money out for an emergency. If you want to start a business, get a motorcycle, or even if you have a medical emergency, you better have a back-up plan! The pension won’t allow for additional withdrawals outside of the monthly payment. If you roll your lump sum to an IRA, you have the freedom to withdrawal as much as you want at any time. *There are some limitations to this.

  1. Purchasing power risk

Increases in the cost of living, can erode the value of your retirement resources and what you can buy with that money. If you have a pension benefit of $1,500/month and your monthly expenses are $900/month you are doing well. Fast forward 15 years, your pension is still paying $1,500/month, but now your expenses are $1,400/month. There’s not much wiggle room, and if you plan to live another 10 years, things could get dicey. If you roll your lump sum to an IRA, you can invest your assets to grow, and hopefully keep up with inflation.

Stop by and talk with our Raymond James Financial Planners today.

Jim Zientara and Jeff Zientara have been helping employees retire from the plant since 1993. They will work on your behalf to get you what you deserve. 
11009 Gatewood Drive, Suite 101 Lakewood Ranch, FL 34211 // (941) 750-6818 // RaymondJames.com/LWR

Securities offered through Raymond James Financial Services, Inc. Member FINRA/SIPC and are not insured by credit union insurance, the NCUA or any other government agency, are not deposits or obligations of the credit union, are not guaranteed by the credit union, and are subject to risks, including the possibility of loss of principal. Investment Advisory Services are offered through Raymond James Financial Services Advisors, Inc.

Manatee Community Federal Credit Union is not a registered broker/dealer and is independent of Raymond James Financial Services.

Investing involves risk, including loss. There is no assurance that any investment strategy will be successful. Asset allocation and diversification does not ensure a profit or protect against a loss. Any charts and tables presented herein are for illustrative purposes only and should not be considered as the sole basis for an investment decision. There can be no assurance that the future performance of any specific investment or investment strategy made reference to be profitable or equal any corresponding indicated historical performance level(s). This information should not be construed as a recommendation.

A fixed annuity is a long-term, tax-deferred insurance contract designed for retirement. It allows you to create a fixed stream of income through a process called annuitization and also provides a fixed rate of return based on the terms of the contract. Fixed annuities have limitations. If you decide to take your money out early, you may face fees called surrender charges. Plus, if you're not yet 59½, you may also have to pay an additional 10% tax penalty on top of ordinary income taxes. You should also know that a fixed annuity contains guarantees and protections that are subject to the issuing insurance company's ability to pay for them.

'Withdrawal of pre-tax contributions and/or earnings will be subject to ordinary income tax and, if taken prior to age 59 1/2, may be subject to a 10% federal tax penalty.

Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional. RMD's are generally subject to federal income tax and may be subject to state taxes. Consult your tax advisor to assess your situation.

If you've changed jobs or are retiring, rolling over your retirement assets to an IRA can be an excellent solution. It is a non-taxable event when done properly - and gives you access to a wide range of investments and the convenience of having consolidated your savings in a single location. In addition, flexible beneficiary designations may allow for the continued tax-deferred investing of inherited IRA assets. In addition to rolling over your 401(k) to an IRA, there are other options. Here is a brief look at all your options. For additional information and what is suitable for your particular situation, please consult us. 1. - Leave money in your former employer's plan, if permitted. // Pro: May like the investments offered in the plan and may not have a fee for leaving it in the plan. Not a taxable event. 2. Roll over the assets to your new employer's plan, if one is available and it is permitted. // Pro: Keeping it all together and larger sum of money working for you, not a taxable event. Con: Not all employer plans accept rollovers. 3. Rollover to an IRA // Pro: Likely more investment options, not a taxable event, consolidating accounts and locations. Con: usually fee involved, potential termination fees. 4. Cash out the account // Con: A taxable event, loss of investing potential. Costly for young individuals under 59 ½; there is a penalty of 10% in addition to income taxes. Be sure to consider all of your available options and the applicable fees and features of each option before moving your retirement assets.

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More Savings.More Possibilities.

Authored By: Manatee Community FCU on 4/25/2019

I love my credit union rewards

There are more reasons than ever to love being a member of Manatee Community Federal Credit Union.

Your credit union membership is about the trust and care of community, built around where you live, work and play. That’s why we’ve made it so that your MCFCU membership saves you money through exclusive member only offers through our trusted partners. Through Love My Credit Union Rewards, credit union members have saved over $2 billion with offers like:

» $100 cash reward with each new line you activate with Sprint. Plus, existing customers earn  $100 Annual Loyalty Cash Rewards, and 25% off select accessories in Sprint stores.

» Credit union membership also saves you up to $15 on TurboTax federal products.

» We want you feeling as safe at home as you do in our credit union. That’s why you can get an exclusive smoke communicator and a $100 gift card with a new ADT home monitoring security system. Just call 844-703-0123 to get this special offer through the Love My Credit Union Rewards Program.

» Your credit union membership benefits go with you when you shop too! With Love to Shop, get member only cash back rewards from over 1500 online retailers.

Learn all about how your MCFCU membership gets you all these exclusive savings, and more at www.manateecfcu.org or LoveMyCreditUnion.org. Check them out and start enjoying credit union member benefits you never knew you had before.

 

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There are more reasons than ever to love being a member of Manatee Community Federal Credit Union

Authored By: Manatee Community FCU on 4/1/2019

Love My Credit Union Rewards

Your credit union membership is about the trust and care of community, built around where you live, work and play. That’s why we’ve made it so that your MCFCU membership saves you money through exclusive member only offers through our trusted partners. Through Love My Credit Union Rewards, credit union members have saved over $2 billion with offers like:

» $100 cash reward with each new line you activate with Sprint. Plus, existing customers earn

$100 Annual Loyalty Cash Rewards, and 25% off select accessories in Sprint stores.

» Credit union membership also saves you up to $15 on TurboTax federal products.

» We want you feeling as safe at home as you do in our credit union. That’s why you can get an exclusive smoke communicator and a $100 gift card with a new ADT home monitoring security system. Just call 844-703-0123 to get this special offer through the Love My Credit Union Rewards Program.

» Sometimes accidents happen, but credit union members enjoy special True Savings with

TruStage Auto and Home Insurance.

» Your credit union membership benefits go with you when you shop too! With Love to Shop,

get member only cash back rewards from over 1500 online retailers.

Learn all about how your MCFCU's membership gets you all these exclusive savings, and more at www.manateecfcu.org or LoveMyCreditUnion.org. Check them out and start enjoying credit union member benefits you never knew you had before.

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Tax Reform 101: Five Changes That May Affect You

Authored By: Intuit TurboTax on 2/10/2019

With so many changes under the new tax reform law, Manatee Community Federal Credit Union breaks down the top 5 to help you understand how you may be affected.

Don’t worry, TurboTax Has You Covered

TurboTax is always up to date with the latest forms and 100% accurate calculations. With TurboTax, you can file your taxes with complete confidence – and get your biggest possible refund, guaranteed. AND, as a credit union member you can save up to $15 on TurboTax federal products. Click here to access TurboTax and your savings!

turbotax

Five Changes That May Affect You

Lower tax rates, more money. One of the biggest changes is the reduced tax rates, about 1 – 3% for the majority of taxpayers so you may be seeing more money in your paycheck.

Elimination of personal and dependent exemptions. Personal and dependent exemptions of $4,050 were eliminated. This can mean a big reduction in the number of write-offs you once had.

Increase in the Child Tax Credit. The new tax reform law increased the Child Tax Credit from $1,000 to $2,000 per child and it raises the income threshold, which means more people could be eligible for the credit.

Changes if you’re a homeowner. The new law limits the amount of state and local property, income, and sales taxes that can be deducted to $10,000.

Elimination of tax deductions. The new tax reform law eliminated several popular tax breaks starting in tax year 2018 (the one you file in 2019) like miscellaneous itemized deductions.

Don’t worry about knowing the new tax laws. TurboTax has you covered and will be up to date with the latest forms and 100% accurate calculations. When you are ready to file, click here to access TurboTax and your savings!

***

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Manatee Community Federal Credit Union members, cash in on rewards from Love My Credit Union Rewards

Authored By: Manatee Community FCU on 7/16/2018

Sprint Rewards
Credit union members can earn $100 for each new line you activate, up to 3 lines, when you switch to Sprint®.
Here’s how it works:

  • Get a $100 cash reward for each new line you activate, up to 3 lines.
  • Current Sprint customers will receive a $50 cash reward for every line transferred into Sprint Credit Union Member Cash Rewards.
  • Plus, get a $50 loyalty cash reward every year for as long as you are a Sprint customer.*

Here’s how to sign up for Sprint cash rewards:

  • Become a Sprint customer.
  • Register at LoveMyCreditUnion.org/SprintRewards or in the Love My Credit Union Rewards® app.
  • Allow up to six to eight weeks to see cash rewards directly deposited into your credit union account!

Make the switch today and save with the Sprint Credit Union Member Cash Rewards!

The savings don’t end here! Members have saved nearly $2 billion on services they need from partners they trust. The more offers you take advantage of, the more you save.

  • Save up to $15 on TurboTax Federal online and downloadable tax products.
  • Get an exclusive smoke communicator and a $100 gift card with a new ADT monitored home security system. Call 844-703-0123 to activate this special offer.
  • Earn cash back with Love to Shop at over 1,500 online retailers.
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Love My Credit Union Rewards

5/7/2018

Love my credit union rewards

Manatee Community Federal Credit Union Members Get Exclusive Discounts from Love My Credit Union Rewards!

Now with the Love My Credit Union Rewards program, you can save on products and services you use every day. Members have saved nearly $2 billion in discounts from valued partners through Love My Credit Union Rewards. You can save too with valuable discounts from these partners:

  • $100 cash reward with every new line switched to Sprint! Current customers will receive $50 for every line transferred. Plus, a $50 loyalty reward every year for every line!*

  • Get an exclusive smoke communicator and a $100 gift card with NEW ADT monitored home security system. Call 844-703-0123 to activate this special offer through the Love My Credit Union Rewards program.

  • Shop and get cash back at over 1,500 online retailers with Love to Shop.

To find out more and learn about other valuable discounts, visit our website or LoveMyCreditUnion.org. You get all these offers and discounts just for being a member of Manatee Community Federal Credit Union.

*Activ. Fee: Up to $30/line. Credit approval req. Sprint Credit Union Member Cash Rewards Offer: Offer Ends 12/31/2018. Avail. for eligible credit union members and member employees (ongoing verification). Tax ID req. to establish business acct. Switch to Sprint and receive a $100 cash reward for each new smartphone line activation. Reqs. port-in from an active number (wireless or landline). Existing customers receive a $100 cash reward for each new smartphone line activation and/or a $50 cash reward for each smartphone line transferred to program. New lines req. activation at point of sale. Max 15 lines. Sprint acct must remain active and in good standing for 31 days to receive Cash Reward. Excludes MBB devices, tablets and Sprint Phone Connect, upgrades, replacements and ports made between Sprint entities or providers associated with Sprint (i.e. Virgin Mobile USA, Boost Mobile, Common Cents Mobile and Assurance.) May not be combinable with other offers. $50 Loyalty Cash Reward: Members can earn one $50 cash reward annually when Sprint acct remains active and in good standing for 1 year. Max 15 lines. Cash Reward: Cash Reward issued by CU Solutions Group. Allow 6-8 wks for Cash Reward to be deposited to your Credit Union acct. If the Cash Reward does not appear after 8 wks, visit lovemycreditunion.org/sprintrewards. Other Terms: Offers/coverage not avail. everywhere or for all phones/networks. May not be combinable with other offers. Offer, terms, restrictions, and options subject to change and may be modified, discontinued, or terminated at any time without notice. Restrictions apply. © 2018 Sprint. All rights reserved. Sprint and the logo are trademarks of Sprint. Other marks are the property of their respective owners.

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Better Budgeting in 3 Steps

Authored By: Greenpath on 4/5/2017

Better Budgeting in 3 Steps

Better Budgeting in 3 Steps

Whichever method or tools you use, the three steps to develop a monthly budget are always the same. 

Step 1 - Determine Monthly Income.  Your first budgeting step is to determine your monthly income. When they think about income, most people think of what they earn from their job. However, it is important to include all sources of income.  For example, if you earn regular money babysitting for a relative or receive child support, it should all be included in your budget. Use net income, which is the amount of money you receive after taxes and other deductions (health and life insurance, 401k contributions, etc.) After you become comfortable managing your money on a monthly basis, you may want to consider a six-month plan and, eventually, work up to a yearly budget. 

Step 2 - Identify High-Priority Bills.  Your next budgeting step is to determine your high-priority bills. Examples include a mortgage or rent payment, basic utilities, auto payment, and insurance premiums. These payments are generally fixed, and you are expected to pay them every month. Some bills, such as insurance, are paid periodically. For this type of bill, budget by dividing the amount of the expense over the appropriate number of months (i.e. a quarterly payment would be divided over 3 months).

Step 3 - Estimate Other Expenses.  After subtracting the priority bills from your net income, you will ideally still have money left for other important items, such as groceries, gasoline, and credit cards. The first time you set up a budget, it may be hard to determine how much you will spend on groceries or gas. So the next step is to try your best to estimate these amounts, and track your expenditures to monitor the accuracy of your estimates. Comparing your estimiates to how much you actually spend will help you adjust your budgeting amounts for the next month.

A word of warning:  Most people are surprised at the amount of money they spend on trivial or unnecessary items. It’s important to set aside funds to cover the high priority bills first. Try to allocate a reasonable amount of money for miscellaneous expenditures, such as dining out and entertainment. For example, if you’ve been spending $100 per month on dining out, consider allowing only $50 in your budget. Then, after spending your allocated amount, don’t spend any more in that expense category. It takes discipline, but is well worth it. The money you save can go toward building up your emergency savings account, paying down your debts, saving for retirement, or maybe even paying for a vacation.

It may be difficult at first, but most changes are not easy. You’re changing your mindset and attitude toward money, and that takes time. But the longer you do it, the easier it becomes. It won’t be too long before your budget becomes a habit. 

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Spring Cleaning Your Finances

Authored By: Greenpath on 3/6/2017

Spring Cleaning Your Finances

Spring Cleaning Your Finances
Springtime means opening the windows, sweeping out the
dust from over the winter and starting anew. It is also the
opportune time to clean out your wallet or purse, that junk
drawer full of receipts and those overflowing file cabinets.
But where to begin?


Sweep it
Go through your wallet and purse and fish out any receipts
you may have accumulated. Review which ones you need to
keep and why you kept them. Do you have receipts related
to rebates? If so, sit down today, fill out the form, and either
load on-line or put in the mail. Do you have credit card offers
lying around that need to be dealt with? Or, how about
passwords scribbled on post-it notes? Do you have other
receipts tacked on a bulletin board or shoved in a kitchen
junk drawer? How about all the paperwork from filing your
taxes? Rake them all together!


Rake it
Once you’ve raked together all your sensitive papers, it’s
time to decide what to do with them. For tax documents,
in most cases, you should plan on keeping tax returns
and any supporting documents (e.g., W-2s, mileage logs
if you itemize, etc.) for at least three years after the date
you filed or the due date of your tax return, whichever is
later. Always consult your tax preparer, if you have questions.
Receipts not related to refunds or extended warranties can
be set aside for shredding. Do you have a pile of credit card
offers taking up space in a drawer? Get them ready for
shredding, too!


Shred it
So, once you decide what you need to shred, how do you
handle it all? Tearing the documents in half and throwing
them out is not the way to go! A home shredder is a good
idea. It is recommended that you buy a shredder that
crosscuts. In other words, you want all that paper ending up
looking like confetti, and not in strips. Home machines are
not typically heavy-duty, so be careful as to how much you
shred at a time. If your shredder is not equipped to take on
staples or other metal, be careful to remove them from the
paper to avoid damaging the blades. If you have a lot of
sensitive documents, many communities now offer Shred
events. They enable you to drop off your documents for
shredding for free, or for a small fee, and even watch it
being shredded while you wait.


Secure it
Highly sensitive documents (social security cards, passports,
birth certificates, wills) should be locked up in a fireproof file
cabinet or lockbox. Gather all other pertinent papers, like
insurance forms, tax documents, mortgages, and put them in
a secure location. Inform trusted family members where the
documents are located and/or location of a key for the secure
file cabinet or lockbox.


A little planning this spring, alongside your traditional
cleaning, can set you up for a great financial year!

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8 Steps for First Line of Defense against Credit Card Fraud

Authored By: Manatee Community FCU on 2/21/2017

8 Steps for First Line of Defense against Credit Card Fraud

8 Steps for First Line of Defense against Credit Card Fraud

With all the news about breaches in security from popular places such as Target and Michaels, you may be wondering, how on earth did that happen and what can I do to protect my accounts?

Cardholder diligence and account monitoring is becoming more important as the first line of defense in fraud mitigation. Manatee Community Federal Credit Union wants you to be aware of steps you can take to decrease the chances of this from happening to you:

8 Steps for first line of Defense against Credit Card Fraud

  1. Monitor activity on your accounts regularly. Fraudsters are becoming savvier at avoiding detection of fraud monitoring programs by following transaction spending patterns that are similar to cardholders as well as by using less popular merchants that may not be monitored as heavily.
  2. Ensure your financial institution including Manatee Community Federal Credit Union has current contact information to reach you in case of suspect activity on your account. Manatee Community members: To report your MasterCard lost or stolen, please call 1-800-338-0566 immediately. To report your VISA® Debit card lost or stolen, please call 1-800-757-9848 immediately.

  1. When shopping online, do not store your login credentials or your debit/credit card information on websites.
     
  2. Ensure your login credentials (user IDs and specifically passwords) for your computer, online banking, smart phones, web sites or any system where you log in has secure, complex passwords that are difficult to guess (ex: minimum of 9 characters long using a combination of upper & lower case letters, number and characters).
     
  3. Update passwords for web sites regularly to ensure continued protection. We recommend doing this monthly.
     
  4. Be cautious of accessing personal information and of purchasing online if on an unsecured or public WiFi network.
     
  5. Ensure that personal computer and smart phone protections are kept current (ex: firewalls, anti-virus software, etc.)
     
  6. Be aware of current fraud trends related to social engineering (ex: phishing) and social networking sites (ex: Facebook).

Although nothing is guaranteed to completely safeguard you against breaches, these due diligent steps will make it more difficult for the culprits. If you need assistance or have any questions feel free to contact Manatee Community Federal Credit Union at 941-748-7704.

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