How are Credit Cards Beneficial?
Many are hesitant and overwhelmed by the idea of a credit card or a line of credit. Although these options can cause trouble if utilized irresponsibly, there can be many benefits if used responsibly. Utilizing your credit card and/or line of credit can help build your credit score.
Why is credit score so important? Credit score allows you to make large purchases such as a house or a car by determining what loans you qualify for and what your interest rate will be. Numbers are frequently used as a determining factor in decision making. As a graduating high school student, your grade point average, ACT score, and/or SAT score are important components of what college you will be attending. As an adult, your credit score becomes the most influential aspect in many significant decisions. It can be thought of as measurement of how dependable and trustworthy you are. So if a dream home or new set of wheels are on your wish list, make sure your credit score is something you are proud of!
Many credit cards offer a rewards system. You can earn points for your purchases and later redeem these points for an array of prizes ranging from cash to vacation options. If you're making purchases anyways, it's nice to earn something back for it.
Let's recap on some of the reasons why a credit card can be beneficial.
- Help build or rebuild your credit. This provides a better chance at getting approved for the loans you apply for and helps you get lower interest rates.
- Earn reward points. These reward points can be redeemed for cash, travel, electronics, or other awesome prizes.
- Convenience. It is much thinner and less of a hassle than carrying around cash or a checkbook.
If you are interested in getting a credit card, stop into any of our branch locations. We would love to chat with you and answer any questions or take care of any concerns. Apply for a credit card online by clicking here.
Why You Should Teach Your Kids to Save
Teaching your children the importance of saving at a young age is crucial for their financial futures. Investing in stock markets, simply being more financially aware, and even attending college are more likely to happen if this is done. They are never too young to have a savings account at a financial institution but starting them off with a piggy bank is a good and fun way to showcase small amounts of money can accumulate over time. It is also a great way for parents to empty out those pockets and get rid of that heavy change!
There are many ways to begin informing and training your little ones on the importance of saving and the value of money.
Here are three simple and easy methods for your kid:
- Help them set small goals. This gives them something to save up for and look forward to. Designate a specific jar for this goal. They are able to visually see their money grow and go towards something on their wish list.
- Let them learn by experience. Allow them to take their money with them when you head to the grocery store or shopping mall. This gives them the opportunity to actually see what their money can buy and can't buy.
- Have them earn their money. This teaches them that money is not always easy to come by. Hard work is required! This not only teaches the young ones the value of money but instills the value of hard work. It's a win win!
For kids who are ages 2 to 4 who might be a tad bit too young to grasp those methods, here are three that are more fitting for this age group:
- Teach them the difference between coins. A penny can buy a pony ride at the grocery store or a quarter can buy a gumball at the gumball machine are great examples for young kids. They will be able to easily recognize coins because they've associated it to something they can relate to. Hopefully the next time they come across a penny, they'll have the urge to save it for a fun pony ride at the grocery store. This is a simple but effective way of instilling the importance of saving!
- Use what is relevant and relatable to them. Extremely young children are normally not interested in money so using their favorite snack, candy, or even television programs are a good way to gain interest while educating them on the importance of saving. An example would include three checkmarks for good behavior or a task well done can be redeemed for a couple fruit snacks or you can wait and save up for 10 checkmarks for a whole pack!
- "Good things come to those who wait." Children's eyes light up when they're at a store full of toys and they're in a frenzy to have whatever their eyes land on. Rather than saying, "No. We can't afford that" say, "We can't get that because we're saving up for x, y, and z." This teaches the kids at a young age that having the money doesn't necessarily mean that it's an automatic to spend on what we desire rather than what we need.
These quick and very simple methods can easily be adapted into your everyday lives and can be quite beneficial for your kids' financial future. Start them young! To open a savings account for your kid, stop into any of our branch locations or apply online.
Free Coin Counting
Is your piggy bank crammed full of coins? Do you have change scattered in your car and around your home? Forget about the hassle and the time commitment of rolling your coins and come use our coin-counting machines at the Jolly Rd. and Saginaw Hwy. branches for FREE for the rest of the year.
Yes, you heard correctly! The coin-counting machines are surcharge-free for Astera Credit Union members until January 3rd! We wanted to show how thankful we are for your membership and to help you save money; deposit the cash or take it to spend this holiday season.
Year round, our Star Savers Youth Saving accounts are able to utilize the coin-counting machines free of charge and adult members pay just 2%.
Hurry in to our Jolly Rd. or Saginaw Hwy. locations today, and take advantage of our gift to you. Our coin-counting machines are quick and easy to use.Branch locations are as follows:
Saginaw Hwy Address:
5615 W. Saginaw Hwy
Lansing, MI 48917
Jolly Rd Address:
301 E. Jolly Rd
Lansing, MI 48910
Member Appreciation Week
Without our members, we would not be the credit union that we are today and we appreciate each and every single one of you--our members! The trust, support, and friendship that our members have shown over the years is truly heartwarming.
To show our gratitude, we celebrated Member Appreciation Week from September 22nd to September 26th, with pizza for lunch on Monday and Friday, and donuts for breakfast, Tuesday through Thursday. Our members took their Astera pride with them, as we handed out color changing cups and silicone Astera wristbands. The kids were in shock to see that the lime green cups turned orange with some ice water inside. We also celebrated our members with a $250 Visa gift card giveaway.
Our Member Appreciation celebration lasted for a week but we appreciate our members all year round! Thank you again for the support and for being a part of our credit union family. We strive to continuously provide you with excellent service, innovative products, and to serve as a trusted partner in your finances!
Which Kasasa Account is Right for You?
- Do you utilize your debit card often within a month?
- Do you take advantage of Online Banking or Mobile Banking?
- Are any of your checks direct deposited?
- Are you enrolled to received e-statements?
If your answers to these questions are yes, then our Kasasa checking accounts are perfect for you! Astera Credit Union offers two different types of Kasasa checking accounts that can be beneficial depending on how you use your account.
If you normally carry a high balance in your checking, then a Kasasa Cash checking account would be a great fit. This type of account earns you interest on your balance.
Our second Kasasa account, Kasasa Cash Back, earns you rewards on your purchases rather than your balance. The Cash Back checking account is perfect for those with a lower balance.
Our Kasasa checking accounts both offer refunds on ATM fees nationwide up to $10 monthly!
If your answers to some of the questions were no, we can work with you on converting the "no" to a "yes." If you are simply not interested, Astera also offers the Regular checking and Check Plus checking accounts so we can still find a checking account to perfectly match your needs and financial goals.
Jessica Vu, Marketing Clerk at Astera Credit Union
Three Reasons Why Debit Cards Aren't Scary
In today's world, technology is everywhere and daily advancements can be hard to keep up with. It is amazing and quite funny to see my six year old cousin teach his 47 year old dad how to work an iPad! Even though fun new gadgets seem to be everywhere, one that still struggles for attention is the debit card. While debit cards are not a recent development, there are still many who hesitate to use this piece of plastic. Having previously worked in retail before joining the Astera CU family, I was stunned by the number of customers that pulled large wads of cash out of their pockets. It was unbelievable!
What is so great about a debit card? Why should I use a debit card over cash, checks, and credit cards? Valid questions to ask for the non-debit-card-believers.
1. Convenience - A small piece of plastic is a lot more suitable for your wallet or purse than a stack of bills or a checkbook. With a debit card, you avoid the hassle of counting out bills or exact change. Debit cards also eliminate the tedious procedure of writing out a check at the checkout. Not to mention, a lot of places no longer take checks!
2. Security - Checks provide personal information such as address, phone number, and sometimes driver's license number. Most importantly, your account number is displayed on the check! Cash can be nerve-wrecking to carry in large amounts. If those large amounts were to be stolen or lost, they are most likely gone forever. With debit cards, you are able to cancel a compromised card as soon as you realize it is missing.
3. Rewards - Most credit card users utilize that kind of plastic because it offers rewards. Although the credit card rewards can be extremely beneficial, there are many downsides! With credit card usage, you can expect to pay interest if you carry a balance, fees, and that scary four letter word – debt. Debit cards only access the funds available in your account, thus eliminating your chances of racking up some serious debt. Debit cards with our Kasasa Checking accounts can earn rewards that are even better than what many credit cards offer.
Jessica Vu, Marketing Clerk at Astera Credit Union.
It's Your Party
With the season of open houses, receptions and other parties upon us, I have been fielding a lot of questions from party hosts about Liability insurance. Whether you are hosting a large party at your home or at a rented space such as a hall, getting protection in place in case there is an accident is a wise item to add to your event to-do list.
If you are hosting the party at your home, your home or renters insurance is the protection that you'll rely upon if there is an accident. Be sure to check in with your insurance agent on what your "liability coverage" is. For homeowners, I always recommend that they carry at least $300,000 in liability insurance. More is always better, especially if you have assets that you would want protected in a lawsuit situation (such as your retirement accounts, pension, or home), or if you have circumstances on your property that you worry about causing injury to someone. For example, I have a front walk to my house that can get slippery when it's wet, so I made sure I had more liability coverage than the minimum. It's important to understand that if there were ever an accident that was covered by your home insurance liability coverage, but the judgment was for more than what you have coverage for, it would be your responsibility to cover the rest. That is why I always ask about assets when we are talking about insurance.
If you are hosting the party at a location such as a rented hall, banquet room or park, you may be asked by the rental facility to "buy a liability policy" or to "provide proof of liability insurance". The good news is that, if you already have a home or renters insurance policy, you won't need a buy a new one. But the key is going to be to call your insurance agent and talk with them about adding the location of the party as an "additional location" to your insurance policy. For a client that I recently helped do this for in preparation for her daughter's wedding reception, we added the location of the reception to her renter's policy, and boosted her liability coverage higher for just the days covering the rehearsal, the wedding and the cleanup afterwards. When everything was over, we removed those extra coverages and location from her policy. She was delighted to not have to buy a new policy.
If you are looking at hosting a big party soon, feel free to contact me to review your options – I love helping clients avoid buying new policies when they don't need to!
From Shantana Goerge, a Sales Representative with Liberty Mutual Insurance. Astera Credit Union members are entitled to special discounts on insurance through Liberty Mutual, so contact Shantana today to see how much you can save! You can also follow Shantana on Twitter!
Shantana.Goerge@LibertyMutual.com • 517.347.6722 x56547 • 3552 Meridian Crossings Ctr. Suite 560, Okemos, MI 48864
Taco Bell Breakfast Review
The Crunchwraps offered up the perfect breakfast zing. Add a little picante and the morning started out just right. The hash browns also hit the spot. -Jeff
Today we received a special treat at Astera Credit Union; Taco Bell breakfast on its first day. It was very good--especially the crispy hash browns and the AM Bacon Crunchwrap. YUMMY, I look forward to many more Taco Bell breakfasts! -Darcy
The #wakeuplivemas coffee was hot, strong, and fresh. For someone that likes strong coffee, I enjoyed it, but for someone that generally likes what I call "brown water" it would be too strong.
The Waffle Taco had great flavor. We had the bacon one, and I was expecting strips of bacon, which too often at restaurants is paper thin and too salty. This was real chunks of bacon, which were all over the place in the best way possible. Every bite had little bacon-y bits of wonder. The eggs were fluffy, the cheese was melty, and the syrup was syrup-y. The waffle lacked crispness (I love a Belgian waffle with a big ol' crispy outside), but this may have been due to first day of breakfast and how busy our Taco Bell was.
The AM Crunchwrap was delish. I can't decide if I liked the sausage or the bacon better, but the textures…oh, the textures! Crunchy from the grilled tortilla and crispy hash brown (not too greasy, and didn't taste like fryer), savory meat, fluffy eggs, and melty cheese--all intermingled with a zesty sauce. Compared to the PM Crunchwrap, I liked that this was a more compact Crunchwrap, rather than the larger in circumference (and floppier) PM.
We finished up with the Cinnabon Delights for breakfast dessert. They could have been crispier, but after picking them up, driving to the office, eating our breakfast, then enjoying them, this could have been user error. -Austin
I was quite skeptical of the breakfast that Taco Bell is now offering. I was uninterested and had no desire to give it a try. Austin, who raves about the breakfast, convinced me to experience the most important meal of the day at Taco Bell. Live mas, right?
The AM Crunchwrap with bacon was delicious! It was the perfect combination of all the best breakfast foods wrapped beautifully in a grilled tortilla. There was just the right amount of eggs, crispy hash brown, bacon, and gooey cheese! The AM Crunchwrap features an amazing sauce that gives this breakfast item a ZING! If you want to start your morning in a scrumptious way… live mas with the AM Crunchwrap! -Jessica
Overall, 4 out of 4 people in the Astera Marketing Department approve of Taco Bell Breakfast. Next time we go for a #FirstMeal run at Taco Bell, we'll remember to grab a Bacon Crunchwrap for the CEO. She was pretty jealous.
For full menu information, visit: http://www.tacobell.com/food/menu/breakfast-menu.
Astera Credit Union is Federally Insured by NCUA and is an Equal Housing Lender.