7 Signs You’re Living Beyond Your Means and How to Fix Them – Healthy Finances

Let’s take a look at seven red flags that might mean you’re living beyond your means and the steps you can take to get back on track. ­

You’re carrying a credit card balance from month-to-month

If you have a large credit card balance and just pay the minimum each month, you could end up carrying this balance for years while paying a lot in interest. You might also be tempted to make more purchases on the card, ultimately increasing the time it takes to pay off the debt.

You might consider: Try to double down on your monthly payments and/or make one extra payment each month instead of paying just the minimum amount. If you have multiple credit cards with high-interest rates, consider transferring all your balances to one credit card with a lower interest rate.

AGCU offers a variety of personal credit cards, including Max Cash Preferred, Real Rewards, Platinum, and Secured Card. Pick the card best suited for your needs!

Paying your bills gives you anxiety

Does the thought of making your monthly bill payments on time fill you with dread? Having a plan upfront can help decrease your stress and empower you to control your finances.

You might consider: Making a monthly budget, detailing your income and spending. Look for areas to cut back on “discretionary” purchases and consider ways to boost your income. Our budgeting tools are a great way to keep on target!

Log in to your Online Banking Account and select the My Finance tab to start taking control of your spending today!

You can’t save 5% of your monthly income

Putting away at least 5% of your income could help you pay for seasonal expenses like vacations, back to school, or holidays, without relying on credit.

You might consider: Trimming your expenses and restructure your budget to include at least 5% for savings. If this amount is not feasible, start with 1-2% and gradually increase each month until you can reach 5%.

You don’t have emergency or rainy-day funds

Ideally, you should have an emergency fund to cover urgent needs that you can’t anticipate. According to a recent Bankrate survey, “just 40% of Americans could pay an unexpected $1,000 expense, such as an emergency room visit or car repair, with their savings”.

You might consider: Starting to build your funds now by putting away as much as you can each month, specifically for emergencies. Consider setting up automatic recurring transfers into one of your AGCU savings accounts to help prepare now for the unexpected.

Your mortgage payment is more than 30% of your monthly income

Most financial experts agree that your monthly mortgage payment should not exceed 30% of your take-home pay.

You might consider:

•  Finding ways to boost your income. Seek a raise at your current job, freelance for hire, or find another side job for extra cash.
•  Spending less on another home or consider renting.
•  Refinancing your existing loan could be an option. Call or visit your local branch to speak with an AGCU representative to explore your options. Visit our Home Loan Center to get started!

Can you afford to purchase or refinance your leased vehicle?

If the answer is no, this could spell financial trouble.

You might consider: Finding a less expensive vehicle to purchase. AGCU has lower interest rates and more flexible options than many other auto loan providers. Learn more!

Your financial decisions are influenced by your friends’ spending habits

Thanks to social media, the pressure of “keeping up with the Joneses” is stronger than ever. If you find yourself making financial decisions based on your friends’ choices, you could be spending more than you can afford.

You might consider: Not feeling compelled to live up to the expectations of others. The peace of mind you gain by taking control of your finances contributes more to your well-being in the long run.

If you’re feeling overwhelmed by your current financial situation, we might be able to help. Stop by your local branch or call 866-508-AGCU (2428) for assistance.

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

Don’t Get Scammed!

Here are some tips to help avoid scams and protect your personal information

Child Tax Credit payments begin this month, and scammers are using this as an opportunity to try to trick you out of your personal information. These tips from the IRS can help to keep yourself safe from potential scams.

The IRS has launched Identity Theft Central, an online resource that explains how to report identity theft and protect yourself from online scams and phishing attacks. (Phishing emails, calls, texts, and letters try to trick you into sending cash or disclosing personal information. Some phishing attacks aim to let a fraudster infiltrate your computer and steal information). The site also contains information for businesses and tax professionals.

 

 

 

 

10 Ways to Spot IRS Scams and Impersonators

It is true that in rare circumstances the IRS will call or come to a home or business. According to the agency, that might happen if you have an overdue tax bill, haven’t filed a tax return, haven’t paid payroll taxes on your employees, or are undergoing an audit or criminal investigation.

But even then, taxpayers generally first receive several letters or notices from the IRS in the mail, and taxpayers will only be asked to pay the U.S. Treasury. Which is why the items below are major red flags that IRS scams are lurking.

• They’re calling you first.
  The IRS contacts taxpayers by mail first; it doesn’t initiate contact via a random phone call.
• They’re leaving a prerecorded voice mail.
  The IRS doesn’t leave prerecorded, urgent, or threatening voicemails.
• They’re emailing you.
  The IRS doesn’t initiate contact with taxpayers by email to request personal or financial information. Do not reply to the message, open any attachments or click on any links. And note that the IRS’s website is IRS.gov — not IRS.com, IRS.net, IRS.org or some other bit after the period.
• They’re texting you.
  The IRS doesn’t initiate contact with taxpayers by text message to request personal or financial information.
• They’re contacting you via social media.
  The IRS doesn’t initiate contact with taxpayers on social media channels to request personal or financial information.
• The form they’re sending or referencing doesn’t appear on the IRS website.
  You can look up the names of IRS notices and letters on the IRS website. If the type of notice you received doesn’t show up on the list, it’s probably not legit.
• They don’t know what an HSPD-12 card is.
  Real IRS agents have two forms of identification: a pocket commission and an HSPD-12 card. You have the right to see these credentials, and you can verify information on the HSPD-12 card by calling the IRS.
• They’re asking for a credit card or debit card number over the phone.
  The IRS doesn’t do that.
• They want you to pay only with gift cards, iTunes cards or prepaid debit cards.
  The IRS doesn’t use these methods for tax payments. The IRS mails paper bills to taxpayers who owe taxes, and payment should only ever be made out to the U.S. Treasury — not a collections agency or other entity.
• They’re saying you’ll be arrested, deported, have your driver’s license revoked, etc.
  The IRS can’t revoke your driver’s license, business licenses, or immigration status. In addition, the IRS and the Taxpayer Bill of Rights give you the opportunity to question or appeal what the IRS says you owe.

But what if I really do owe the IRS money?

If you think you might owe money to the IRS, you can check that directly with the IRS (and for free) by visiting https://www.irs.gov/payments/view-your-tax-account. If you do owe back taxes and want to make a payment, you can send money directly the IRS or sign up for an installment plan to pay the IRS over time. All of those things you can do yourself directly with the IRS.

Fight back: How to report IRS scams

• Tell the Treasury Inspector General for Tax Administration (TIGTA). You can report IRS scams online or by calling TIGTA at 1-800-366-4484.
• Forward email messages that claim to be from the IRS to phishing@irs.gov. Do not open the attachments or click on any links in those emails.
• Tell the Federal Trade Commission via the FTC Complaint Assistant on FTC.gov. Add “IRS Telephone Scam” in the notes.
• Report Social Security Administration phone impostor scams using the form on the Social Security Administration’s website.
• If the IRS scams appear to be impersonating a state tax authority rather than the IRS, contact your state Attorney General’s office.
• Contact AGCU Member Services with any questions you may have about your account.

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

Your Complete Guide to Buying an RV and ATV

 

If you’re ready to purchase an RV or an ATV, the number of choices to make can be overwhelming.

The price range for different vehicles is enormous, choosing between a new or used vehicle can be tricky and securing financing can be a nightmare all its own. To help you through the process, we’ve outlined the steps to take, factors to consider and general tips for purchasing an RV or an ATV. Let’s get started!

Determine your RV class and ATV type

When choosing an RV, you’ll need to decide between the three RV classes: Class A, Class B, and Class C.

• Class A RVs are the largest and the most comfortable. Built on big-rig platforms, these are basically rolling houses. They feature full-sized couches and TVs, full bathrooms, kitchens and expandable bedrooms that can sleep up to 10 people. The price tags range from $60,000 to over a million for custom-built motorhomes.
• Class B motorhomes, also called campervans, are a lot more modest. Built on full-size van platforms, they include scaled-down versions of the same amenities as Class A motorhomes in a more maneuverable, cheaper package. You’ll still have the kitchen and bathroom, but think postage-stamp size as opposed to full-sized rooms. At most, you can sleep three people in a Class B RV. These vehicles cost between $50,000 and $100,000.
• Class C RVs aim for that sweet spot between the luxurious Class A and the no-frills Class B motorhomes. These start with cargo-van platforms and extend the wheelbase until it’s roughly equal to the length of a small bus. Amenities are more enhanced than those found in a Class B, but nowhere near as robust as in a Class A. These vehicles run between $60,000 and $200,000.

If you’re looking to purchase an ATV, you’ll first need to choose between the two main categories for these vehicles: utility and sport. Utility ATVs have larger tires, are generally easier to ride and have fewer bells and whistles than sport ATVs. As their name implies, utility ATVs are designed for work (though they still deliver a fun ride), while sport ATVs are more commonly used for recreational purposes only. Prices for each can run from as low as just a few thousand dollars to a whopping $65,000 for a luxury, fully loaded vehicle.

When choosing an ATV, it’s also important to consider factors such as weight, power, durability and speed.

Choose between new and used vehicles

Like all vehicles, new RVs will cost a pretty penny, but there are several distinct benefits to going this route. First, you’ll likely have an easier time securing financing when purchasing a new RV. You’ll also have the option of buying an extended warranty for your vehicle, which will cover any issues that may arise after the manufacturer’s warranty expires, which is generally after one or two years. Finally, you’ll have a broader range of options to choose from when buying a new RV.
On the flip side, purchasing a used RV can save you thousands of dollars and still provide all you’re looking for in a motorhome. Also, you may never recover the inflated cost of a new RV, as most will depreciate steeply during the first year of ownership, some by as much as tens of thousands of dollars. However, you may have a harder time securing financing for a used RV, be forced to pay a higher interest rate on the loan, and have limited options when shopping for your dream motorhome.
Similarly, depending on your price point, purchasing a used ATV can potentially save you hundreds, or even thousands, of dollars. However, you’ll likely have more limited options to choose from, a harder time qualifying for a loan, and be taking a gamble with the vehicle’s functionality and durability.

Secure financing

Once you’ve made up your mind about the kind of RV or ATV you’d like to purchase, you’re ready to move ahead and secure financing.
If you’re looking for a loan to help cover the cost of your dream vehicle, look no further than AGCU! Your RV or loan comes with a favorable interest rate, easy eligibility requirements, and the excellent service you’ve come to expect from our team. Apply online or contact a loan officer at 866-508-2428.

You could save up to 2% on your next auto, motorcycle, RV, or watercraft loan.* This includes NEW & USED vehicles. Learn more about Mystery Savings!

 

 

 

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

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*Minimum interest rate is 2.24% APR up to 72 months and 3.24% APR up to 84 months. APR = Annual Percentage Rate. The maximum loan term is 84 months. Member must be in good standing. Subject to credit approval and the credit union’s eligibility requirements. No refinancing on existing AGCU loans. Offer valid 8/2/2021 – 9/30/2021. Not valid with any other offer. See credit union for complete details.

AGCU is Proud to Support Queen City Crush Baseball

AGCU is proud to sponsor the Queen City Crush, Greater Springfield Fellowship of Christian Athletes’ (FCA) collegiate baseball team as they seek to make disciples in Christ and lead others to do the same.

Queen City Crush players and coaches operate local sports camps where young children receive training and instruction to learn life-long understanding of what it is like to play with Christ on the field and live for Him off the field as they develop their athletic skills. The team is also making an impact globally as they travel to the Dominican Republic to share their message through missions projects.

The FCA has a vision to see the world transformed by Jesus Christ through the influence of coaches and athletes. Since 1954, FCA has been challenging coaches and athletes on the professional, college, high school, junior high and youth levels to use the powerful platform of sport to reach every coach and every athlete with the transforming power of Jesus Christ. FCA focuses on serving local communities around the globe by engaging, equipping and empowering coaches and athletes to unite, inspire and change the world through the gospel.

The Queen City Crush compete in the Show-Me Collegiate League, a summer collection of college standouts from coast to coast and beyond. More than 100 players converge in Ozark for the summer to play in the wood bat league. Come cheer for the Crush at US Ballpark Ozark, MO, off of Hwy 65.

Watch Show-Me Collegiate League games live at US Ballpark

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

AGCU Earns Highest 5-Star Rating From Bauer Financial

AGCU is proud to have again earned Bauer Financial, Inc.’s highest rating for strength and stability among all financial institutions.

The 5-star rating denotes the absolute highest level of banking performance from the nation’s leading independent bank rating firm. This 5-star rating puts AGCU in an elite category as one of the strongest financial institutions in the nation.

The award is based on an analysis of current financial data. Bauer Financial recommends all institutions ranked with 4 or 5 stars. What this means to them is that the institution is safe, financially sound, and operating well above its regulatory capital requirements.

What this means for our members is peace of mind. Any member who deposits funds with AGCU can be assured their funds are safe and secure.

Learn more about Banking With a Purpose

 

How Bauer Financial Assigns Star Ratings

Financial data is compiled for U.S. banks and thrifts from call report data as reported to federal regulators. Although the financial data obtained from these sources is consistently reliable, the accuracy and completeness of the data cannot be guaranteed by BauerFinancial, Inc. CEO names and addresses are subject to change. While our staff makes every effort to ensure that these are current, the accuracy and completeness cannot be guaranteed by BauerFinancial.

All institutions are subject to federal regulatory capital requirements, but those requirements vary among institutions and are dependent on many factors. In general, banks are required to maintain a leverage capital ratio of at least 4%, a tier 1 risk-based capital ratio of at least 6% and a total risk-based capital ratio of at least 8%.

In addition to the capital ratio, other criteria are used to determine the BauerFinancial™ Star-Rating. Some of these include but are not limited to: profitability/loss trend, evaluating the level of delinquent loans, chargeoffs and repossessed assets, the market versus book value of the investment portfolio, regulatory supervisory agreements, the community reinvestment rating (CRA), historical data and liquidity.

For more information on Bauer Financial, visit www.bauerfinancial.com.

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

Called Camp: For Youth With A Calling

June 1-5, 2021 Evangel University hosted students in 9th – 12th grade who sense a call to vocational ministry.

AGCU is excited to partner with Called Camp; One of the greatest gifts we have is when a leader uses his/her influence, authority, position, and resource to steward the next generation of leaders.

Called Camp, organized by Assemblies of God National Youth Ministries, is a five-day event offered to students from 9^th-12^th grade, in which pastors and leaders connect with students to help guide them in their calling. By providing them with panel discussions, Q&A, personality testing, and basic leadership assessments, students begin to find their passions as they learn to defend their beliefs while learning the basics of ministry and faith.

AGCU is proud and of our leaders

Leaders investing in students who desire to learn from experienced ministers as they connect and communicate to better reach the hurting and lost.

Like in 1 Peter 4:10-11, God calls us to be faithful stewards of his grace, but what does that mean? Some feel that means becoming a pastor, missionary, or worship leader, but what if you want to serve, and your talents are not in those categories.

What does it mean to be called by God? Is God limited to calling a person to be a minister or into full-time missions? What if you want to serve God as a business owner, or in the medical field? What if a young person feels like God has a call on their life, but they don’t know exactly what that calling is?

Good questions — and questions that Christian young people, including those in the Assemblies of God, struggle with regularly.

Connecting pastors to students’ callings makes it easier for students and their pastors to engage in meaningful discussions and helps students fully discover and prepare for what they believe God is calling them to.

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

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Oasis Refuge 3rd Annual Banquet

On May 11^th, AGCU sponsored a banquet to raise money for Oasis Refuge. Their goal is to bring healing to underage survivors of sex trafficking by providing refuge. There are currently only two other shelters in Missouri for domestic minor sex trafficking survivors.

Oasis is a residential treatment home for female survivors of sex trafficking (12-17 years-old), who are given a safe place to heal through a trauma-informed restoration program that includes therapy, education, and spiritual development.

Sex trafficking has continued to grow despite our growing awareness, but awareness needs to be followed by action to stop statistics like these.

• There are 2.8 million runaways each year. *NCMEC
  • 33% of them are approached by a trafficker within forty-eight hours of leaving home *NCMEC
  • 66% are approached within seventy-two hours.*NCMEC
• In 2013, they estimated that 1 in 7 endangered runaways reported to them were likely victims of sex trafficking. NCMEC*
• The age when a child is first prostituted is only 11-14 years old in the United States.*FBI

 

It is hard to imagine from our place of comfort safety and refuge that young females are being manipulated and abused at these rates. One can’t help but think of how we would feel if someone close to us had to experience the horrors that these girls are going through.

 

Here are 5 important rules to follow to help avoid being targeted by human traffickers.

• Be aware of your surroundings – don’t look at your cellphone while you’re walking.
• Avoid being approached while you are alone and trust your intuition.
• Carry pepper spray on your key chain, and be prepared to fight.
• Never reveal private information.
• Be aware of exits or safe places nearby.

While these rules are helpful, some victims find themselves in situations without these options. It is heartbreaking to think that we live in a world where vulnerable young women who are targeted and enslaved by traffickers have no place to retreat.

What would happen to our communities? These girls are not just being stolen from their families. They are being robbed of hope in Jesus Christ and all the wonderful things he has planned for their future. Only God knows the positive roles they could serve in schools, businesses, and churches. These opportunities remain empty without someone to respond to their cry for help and return them to a meaningful purpose.

Oasis ministry provides refuge for underage survivors of sex trafficking to find hope, restoration, and dignity. Girls experience restoration and healing for their trauma, through support, care, counseling, and long-term mentoring.

Centrally located in the U.S., Oasis is a safe haven that offers the girls abundant opportunities for recreation, education, and life skills development.

The home provides spacious bedrooms for survivors of sex trafficking, a resident suite for staff, a space for art and music therapy, an education room, a room for socializing, a full kitchen, and acres of property for recreation and gardening.

Ministries like Oasis depend on private donors like AGCU to help provide a space for these girls to experience safety, comfort, and dignity while they heal from the traumas that they have experienced.

AGCU believes in ministries like Oasis, so we donate part of our earnings to support them as they intervene, comfort, and redirect these women to a hopeful and greater purpose.

Banking With A Purpose

Much more than a catchphrase, our tagline is our passion, our reason why we do what we do. This is the impact of your membership with AGCU. Learn More About Banking with a Purpose

Like us on Facebook!

 

Tracking Your Economic Impact Payment

January 4th was the official payment date of the Economic Impact Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021.

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Depending on how you received your first payment, you should receive the second payment through the same method. Direct deposits will appear in your account quicker than receiving paper checks through the United States Postal Service. If you received your first payment via direct deposit, you can see if the payment has arrived in your account using AGCU Mobile or Online Banking. Visit the IRS website to learn when and how you are set up to receive the payment.

Have you signed up for AGCU Mobile Banking? When you use the AGCU mobile app, you can manage your finances on the go with access to your account 24/7 through your smartphone or tablet. You can deposit checks (conditions apply), transfer funds, pay bills, review alerts, and much more. Learn more about Mobile Banking here.

Are you set up and using AGCU Online Banking? Included with your checking and savings accounts, online banking provides quick and secure access to your account information whenever and wherever you may need it. With Online Banking, you can view account information, review past monthly statements, pay bills from your account, access budgeting tools, and more. Log in to online banking here.

Stay up to date with your account through AGCU Mobile and Online Banking.

Online and Mobile Banking Beyond the Branch

These days, life moves pretty fast; that’s why AGCU offers easy and simple banking solutions through our mobile app and online banking!

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AGCU’s Mobile App Banking Solution

Whether you’re traveling the country or just hanging out on the couch, we are dedicated to serving your banking needs by offering mobile banking services beyond our physical branch locations.

When you utilize AGCU’s mobile banking options, like our AGCU Mobile Banking app, you have the advantage of having access to your account from anywhere.

The app is packed with features, like electronically depositing checks, or transferring money between your accounts. Reaching us through the mobile app is also easy, so you can have peace of mind knowing we are just a call, click, or email away.

AGCU’s Online Banking Services

Members receive free Online Banking access with our checking and savings accounts. With Online Banking, you can view E-statements, pay bills, and access personal finance management tools.

AGCU’s Video Banking Service – AGCU Anywhere

AGCU isn’t like other credit unions when it comes to caring for our members. While we offer many ways to get in touch with us online, we are especially proud to offer face-to-face video banking – what we call AGCU Anywhere!

The AGCU Anywhere app, is a safe, enjoyable, and effective way to communicate with our credit union professionals from wherever you are.

Here’s a few of the things you can do with the AGCU Anywhere app:

• Communicate with an AGCU representative in a face-to-face, personal experience
• Open personal savings and checking accounts
• Apply for a loan
• View informative content from your banking professional
• Upload documents and images using your camera
• Review and eSign loan applications, agreements, and contracts

Additional Mobile Banking Features from AGCU

In addition to AGCU Anywhere video banking and AGCU’s mobile banking app, you can take advantage of getting access to another mobile app called MobiMoney.

MobiMoney is the only app that gives people full control of their debit card usage in a way they’ve never had before. With MobiMoney, customers are alerted to potential fraud and empowered to decide when, where, and how their cards are used in real-time.

Can I do online loan applications with AGCU?

The short answer: Yes! AGCU has gone to great lengths to make obtaining home loans, auto loans, and even personal loans as easy as possible with online loan applications. If you have a question or concern about a loan, our loan officers are just a call away to help address any questions you may have. Please contact us with any questions you may have about our online and mobile banking services.