A QUARTERLY NEWSLETTER FOR ACCLAIM FEDERAL CREDIT UNION MEMBERS

THE
PERMANENT
PRESS

THIRD QUARTER
Summer 2021

The Financial Bridge Linking our Members to their Goals

In Memoriam: A Tribute to our Former Board Member

Ted Wilson

Floyd Theodore “Ted” Wilson

1934-2021

Floyd Theodore “Ted” Wilson, a former Board Member of Acclaim Federal Credit Union, passed away on June 13, 2021. He was an amazing individual who had many ties to his community.

Ted was born in King, NC and grew up in High Point. He served in the Air Force and retired after 35+ years with VF Corporation/Wrangler as Director of Financial Systems.

 This career is what led him to his involvement with Acclaim Federal Credit Union as VF Corpoation/Wrangler (Formerly Blue

Bell) was our founding Select Employee Group. He was integral in the development of the first systems Acclaim used.

Ted joined our board in 1991.  He held various positions retiring as Board Secretary in 2019.  He was dedicated to ensuring our credit union’s success. During his tenure, he helped to guide our credit union resulting in tremendous growth over the twenty-eight year period. His own generosity and volunteerism reflected the values of the Credit Union movement. We were fortunate to benefit from his wisdom, guidance, and friendship.

In addition to the Acclaim FCU Board, Ted was also a very active member of Friendly Avenue Baptist Church for over 50 years, where he volunteered his time to the Cooler Ministries outreach after retirement. He was a blessing to all who knew him. Ted led a very involved and accomplished life and will be truly missed by all those who knew him. He’ll be forever remembered as a giving and loving man, father, and husband.

New mobile app
new appliances

Ecologists are always searching for ways to save our environment. Focusing on energy-efficient appliances is one aspect of this endeavor.

In fact, 30% of the charges on your electric statement stem from your appliances. That’s why the government and many appliance manufacturers are replacing standard devices with new energy-saving models.

Is one of your appliances on the blink? Before running out to purchase a new model, consider if it’s worth contacting a repair person. Since prices for electrical appliances have decreased over the years, it might be worthwhile to buy a new model. Besides, the costs of a new part for your old appliance and the technician’s visit can be high.

Also, remember that the new energy-efficient appliances will save you money on a monthly basis.

What Does Energy-Efficient Mean?

In simple terms, this means the process that is used to make the appliance function is using less energy.

Now that you decided to go with a modern, energy-efficient refrigerator, how can you be sure you’re getting the best product at the most cost-effective price?

Here are some tips to guide you in your search:

Determine the total cost. The first thing to consider is the operating cost.  This amount, along with the actual purchase price, should give you the real cost of the appliance.

Check the energy rating. There are several reliable rating services that provide information about appliance energy consumption. The federal government uses the Energy Star Standard sticker to inform consumers of the operating cost and the annual energy consumption of each appliance.

Select the right size appliance. Running a large machine – even the most energy-efficient one – uses more electricity than a compact one.

Look for economy choices. Many dishwashers and washing machines offer a variety of different cycles. If you find one with an economy cycle, you’ll save money when you only need to wash a small load of clothes or dishes.

Stay Simple. When it comes to choosing a refrigerator, go easy on the add-ons. Top-to-bottom fridge/freezer models are more energy efficient than side-by-sides. Features like water dispensers, ice-makers and auto-defrost use lots of extra electricity. This holds true for self-cleaning ovens, too.

Contact your utility supplier for the latest ways to save on utility charges. With today’s smart devices, appliances can be programmed to use less energy at certain times of the day.

Check out your home. Hire a home assessor to identify ways you can save on your overall energy and water costs.

Comparison shop. Never buy the first model you see. Household appliances are  not cheap, and to find the most energy-efficient one at the best price, you’ll need to comparison shop. Don’t pay for the name in a specific model; compare the details of each machine.

Thriving in a Multigenerational Workplace

Gone are the days when you got a job out of high school or college and then worked there for 40 years, got a party and gold watch before living off your pension and IRA.

Whether it’s for financial reasons or to fulfill a desire to remain productive and useful, workers are remaining employed way past traditional retirement age. According to Business Insider.com U.S. census statistics report that, as of February 2019, about 20% of Americans over age 65 — a total of 10.6 million people — were either working or looking for work.

This resulted in today’s multigenerational workplace, which brings with it conflicts from work ethic to technological know-how.

Here’s how older workers can face the workday feeling like an integral part of their team:

Break down generational stereotypes. Understanding other age groups’ work styles leads to respectful attitudes. Working on a project with a younger co-worker can integrate varied viewpoints, and often produces innovative ideas.

Learn from each other. While older workers can pass along their years of knowledge and experience as well as business contacts, younger workers can share their experience with the latest tech and social media channels.

Fill in communication gaps. Let your manager know if you are not comfortable with the method of communication in the office. Unless it is mandatory that workers use the company email or messaging system, let your manager know your preferred communication methods.

Respect each other. In creating a harmonious work environment, it all comes down to mutual respect. The key to establishing respect among generations is knowing that your co-workers’ motivation, work style and experience is different than yours. It also helps to be flexible and accommodate their needs and preferences.

It takes effort on everyone’s part to create balance in a multigenerational workplace. Teamwork makes the dream work!

6 Reasons to Switch to eStatements

person on laptop
Make the transition today

Are you constantly dealing with a barrage of junk mail that clogs up your mailbox? Drowning in papers needing sifted through? Are you always afraid to throw out any paper from your financial institution, fearful that you’ll be throwing sensitive material into the trash and making it an easy steal for would-be scammers?

If this sounds familiar, you may benefit from switching to electronic account statements.

Electronic statements (eStatements) are similar to paper statements, except for the fact that they’re delivered electronically. At the end of each statement period, which is generally monthly for checking accounts and quarterly for basic savings accounts, you’ll receive a notification from the credit union informing you that your statement is ready to view through the online banking portal, app, or by downloading from a secure site. Once you access the eStatement, you’ll find it has all the information you’re used to receiving in your paper statements. You can also access your eStatement by logging into your online banking site or app at any time throughout the month.

Quick, convenient and clutter-free, eStatements are the way of the future. Here are six reasons to consider switching to eStatements.

 1. Check your accounts at a glance

With eStatements, there’s no need to wait for your monthly statement to arrive in the mail. Just a few clicks and you get your account statement at any time, from anywhere, using the mobile device of your choice. Some financial institutions also offer members the option of signing up for financial alerts, such as a warning when your account is running low and in danger of being overdrawn. With eStatements, managing your accounts is easy.

2. Clear out the clutter

Why bother with piles of paperwork when you can access your accounts online? It’s neater, cleaner, and helps cut down on the correspondence you have flooding your mailbox. You’ll also save time sorting through papers when you can find your last account cycle balance with just a few quick swipes.

3. Keep your information safer

No matter how careful you are with papers containing sensitive data, there’s always a chance you can miss something and it’ll end up in the wrong hands. It can also be a pain to keep track of every incoming piece of snail mail and to dispose of it properly. With eStatements, you’ll never have to worry about losing a paper that contains confidential banking information, or mistakenly tossing it into the trash where it can be easily accessed by identity thieves.

Some people are wary about sending sensitive information online and are fearful that an eStatement can easily be hacked. However, you can access your account balance online with confidence, knowing that Acclaim FCU uses several layers of protection to keep your information absolutely safe.

4. Monitor your accounts frequently for fraud

When you have instant access to your accounts throughout the month, it’s a lot easier to check for signs of fraud. Plus, when you spot the fraud sooner, you can take steps to mitigate the damage earlier and have a better chance of a full recovery.

5. Eco-friendly

When you choose to receive your monthly account statements electronically, you’ll be doing the environment a favor. Less paper statements means less paper waste and fewer trees getting felled for something that will ultimately be tossed. Go green for the environment with eStatements!

6. Safe and secure storage

Filing cabinets are so last century. With eStatements, you’ll never stress about misplacing your account statements again. Your online banking portal or app acts as a convenient and secure filing cabinet, storing your account statements for you to access as needed.

Ready to make the switch to eStatements? Signing up is easy! Just follow the instructions on our mobile app to get started. Hello, convenience!

Budget-friendly Meals Under $8

potato veggie frittata
Potato Veggie Frittata

This budget-friendly meal is chock full of protein, vitamins and, most of all, flavor. Microwave leftovers (if you have any!) for breakfast.

Ingredients:

1 10-oz. box frozen spinach, thawed and drained

4 cup frozen hash brown potatoes, thawed

1 cup shredded carrots

⅓ cup diced onion

⅓ cup diced bell peppers

8 eggs, lightly beaten

½ cup mayonnaise (can use light)

½ cup sour cream (can use light)

Salt and pepper to taste

Directions: 

  1. Preheat oven to 350°F.
  2. Spray a 9-inch square pan with cooking spray.
  3. Squeeze all moisture out of the thawed spinach.
  4. Place spinach in a large bowl.
  5. Add potatoes, carrots, bell pepper, onion
  6. Stir in beaten eggs, mayonnaise, sour cream, salt and pepper.
  7. Spread mixture into prepared pan.
  8. Bake for 30-45 minutes, until a knife inserted in the center comes out clean.
  9. Serve warm or cold.

All You Need To Know About Your First (Student) Loan

You might approach your student loan the same way you approach those term papers: If you don’t think about them, they can’t really stress you out. Unfortunately, just like those papers you’ll eventually have to write, your student loan debt isn’t going anywhere.

If you’ve borrowed the funds from a private lender, like Acclaim Federal Credit Union, you likely need to start making payments toward your loan before you graduate from school. Federal loans don’t have this requirement, but it’s still a good idea to start making headway on your loan.

Here’s all you need to know about managing your student loan debt:

1. Set it and forget it

The best way to make sure you never miss a payment is to set up an automatic payment plan. Your lender might even offer a discount on the interest rate for going autopilot on your monthly payments. Just make sure your account can handle the withdrawals so you don’t end up with an overdrawn account.

2. Look for a scholarship

Don’t make the mistake of thinking scholarships are only for 

incoming freshmen. Search through scholarship sites, like Fastweb.com and Scholarships.com, to check out grants you may be eligible to receive.

3. Keep your credit in excellent shape for a possible refinance

It’s crucial that you make all your monthly payments on time. This includes your student loan payments as well as any credit card bills, car payments or other outstanding loans you may be carrying. This way, you might qualify for a refinance on your student loan a few years down the line. It can be challenging to keep that credit up, but the payback is enormous: A refinance can hack thousands of dollars off your student loan debt.

4. Watch out for student debt scams

There are loads of scammers who want nothing more than to swindle you out of your money. Don’t believe every email you get or every ad you see that promises to forgive your loan or settle it for you, courtesy of the US government. More often than not, these are scams. If you want to contact the federal government to see if you can settle your debt, do it on your own at studentloans.gov.

5. Remember: There is life after debt

Forking over hundreds of dollars each month to pay down your student loan when you’re living off ramen noodles and budgeting like crazy to pay for toiletries can really sting. Remember, though, that it isn’t money in the garbage. Your student loan payments are going toward your degree, which will increase your earning potential by leaps and bounds. Hopefully, it will pay for itself within a few years.

There are also lots of upsides to paying off a loan that may seem irrelevant. You’re essentially being forced to learn how to live with a budget and to spend below your means, a lesson that will stand you well throughout life. You’re also building a strong credit history which will give you a leg up on any other large loans you’ll want to take out in the future.

Get the money you need to help make higher education happen. Student loans from Acclaim FCU in partnership with Sallie Mae® could help!

CLOSINGS:

July 5, 2021 - Independence Day
September 6, 2021 - Labor Day
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Address: P.O. Box 29527
Greensboro, NC 27429
Telephone: 336.332.5302 
Toll-Free/Text: 888.794.1001 
Email: Admin@AcclaimFCU.org

Lost/Stolen Credit Card: 800.325.3678
Lost/Stolen Debit Card: 888.241.2510
Admin Fax: 336.332.4103
Loan Fax: 336.579.9035
Mbr Service Fax: 336.579.9035

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