Author: PEFCU - Page 15

Financially Preparing for the Unknown

Predicting the future down to every detail is impossible. Now more than ever, people are questioning the future of their health, finances, and careers. We understand this is troubling. One lesson you can learn as you look ahead is how prepared you are for financial uncertainties. Many events in life are unpredictable, but you can plan financial stability through sudden setbacks. Here are a few tips to help you plan for the unknown and improve your current financial life: Stick with Your Savings Plan. If possible, keep working as much as you can. If there are other opportunities to earn extra money during this time, go for it. Then, save all you can and limit unnecessary spending. This will help you build an emergency fund. While it may be tempting to spend your stimulus check, put it into savings instead. Since the future is unknown, it’s better to have emergency funds to fall back on if…

September 14, 2020Future Planning, Wallet Wins No Comments

Why a Good Credit Score Matters

You’ve heard by now, more than once, that it is important to have a good credit score. While this sounds good and wise, the importance of a high credit score often doesn’t sink in until you see it in black and white. We want you to understand that a good credit score matters in very real ways. The following example will help illustrate the difference your credit score makes for how much you pay for loans, such as financing a vehicle. The Effect of a Good Credit Score Before we begin, it is important to note that each lender will have their own tiers for deciding what constitutes a…

September 1, 2020Wallet Wins No Comments

Car Buying 101: What You Need To Know

Where to start? Who said that buying your first car would be easy? Chances are that you’ve received lots of unhelpful and conflicting advice on your way to the dealership. So, before you take that test drive, here are six car buying basics that you should know: Loan pre–approval is your most powerful negotiation tool. Get this first! If you know your approval limit and interest rate, you’ll be able to effectively strategize. PEFCU usually offers better rates and terms than banks. Just reach out for more info. The total price is more important than the monthly payment. This is very basic. Many people think if they can handle the monthly payment, it doesn’t matter how long it takes to pay off the car…

July 6, 2020Borrowing Basics 3 Comments

Welcome To Making Money Prosper

At every stage in life, we all need a routine checkup for our financial health. That is why we’ve launched Making Money Prosper! This blog is dedicated to you, our PEFCU members. We’re here to help you live your best financial life by teaching you to successfully save, invest, and manage your money. Adulting can be hard–we get it! We want you to find success through all of life’s stages: like purchasing your first car, traveling the world, planning for retirement, and everything in between. At PEFCU, our goal is to educate you and your family about your personal finances…

July 6, 2020PEFCU Perks, We Are PEFCU No Comments

5 Ways to Build Your Emergency Fund

Car repairs. Medical bills. Sudden job loss. These unexpected expenses unfortunately pop up from time to time. Putting aside three to six months of living expenses into an Emergency Fund should be at the top of everyone’s financial to-do list. However, that isn’t the easiest thing to do. Could you use some guidance? If so, here are five tips to help you boost your emergency fund without drastically changing your lifestyle or finances. #1: Payroll Deduction The best way to jumpstart your emergency savings is with payroll deduction. This service allows you to designate a certain dollar amount to be transferred to a separate savings account every time your paycheck is…

July 5, 2020Wallet Wins 2 Comments

5 Things To Know About Publix Stock Secured Loans

George Jenkins (Mr. George), the founder of Publix Super Markets, Inc., believed in investing in people. He believed that if his associates owned Publix, they would care for and continue to improve the business. When Mr. George founded Publix Employees Federal Credit Union (PEFCU), associates had the opportunity to own a Credit Union that met their unique financial needs. What better way for you to take advantage of ownership than to borrow against your non-ESOP shares when you need it? The PEFCU Stock Secured Loan will come in handy for planned events or unplanned rainy days. Here are five facts you…

July 4, 2020Borrowing Basics 10 Comments

PEFCU Values: Transparent

What does it mean to be transparent? To us, it means that by being fair and honest, we create real relationships with our employees. Below are some ways that PEFCU is transparent. “Transparency breeds trust.” PEFCU Values: Ways That We Are Transparent PAR (Performance Achievement Review): PEFCU strives to be an employer of choice. With our PAR strategy, we make our annual goals clear to our employees each year, and we give honest feedback quarterly. The honest rapport between managers and employees leads to better performance and better service for our members. Annual Report: Each year, PEFCU shares the Credit…

July 3, 2020We Are PEFCU No Comments

Benefits of Refinancing Your Auto Loan

Are your car payments wrecking your budget without putting a dent in your loan? Are you throwing away money in interest payments each month? If so, refinancing your auto loan may be an easy solution. It’s a painless process that could keep your money in your pocket. Let’s review what auto refinancing is and how to decide if it’s right for you. What is Auto Loan Refinancing? Refinancing your auto loan sounds hard, but it’s simple. When you originally bought your vehicle, you likely financed it with the dealership or some other lender. By refinancing your loan, you are just switching it from your current lender to a new lender to save money. Why Should You Refinance? Better Rates: You would want to refinance your auto loan to take advantage of better loan rates. If auto loan rates are…

July 2, 2020Borrowing Basics 1 Comment

Understanding Your Credit Score

Most people believe if they make all of their credit cards, car loan, and mortgage payments on time, they can expect their credit score to be great. However, focusing on your payment history alone will not give you a complete breakdown of what actually goes into your credit score. Here are five factors that determine your credit score:  Payment History: 35% Lenders want to know that you are a reliable payer and you are making most of your payments in a timely manner. While a one-time late payment will have an impact on your payment history, if it is an unusual occurrence, it will not take long to regain your standing.  Your payment…

July 1, 2020Borrowing Basics No Comments

PEFCU History: A Look Back in Time

Building Our Credit Union Publix Employees Federal Credit Union (PEFCU) wasn’t built with brick and mortar. PEFCU was built with people, by people, and for people. We owe our success to the individuals who share our trust, commitment, and values. Membership is essential to the design of our not-for-profit cooperative, and the members keep the Credit Union strong. The Architects PEFCU was envisioned by Publix founder George Jenkins, John Turner, and other leaders of Publix Super Markets, Inc. Mr. George was known for his generosity, and he often helped Publix associates in times of financial need. In 1957, someone suggested…

June 30, 2020We Are PEFCU 37 Comments

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