Stay Cozy and Save Money: Homeowner’s Guide to Efficient Heating

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As the temperature drops, homeowners’ wallets start to freeze up with rising heating costs. This winter natural gas households can expect a 25% increase compared to last year, while those heating with electricity can expect a 6.5% hike, and those using oil or propane may face a 54% surge.

At AGCU, we care about sharing the best practical advice for homeowners to save money, no matter if they’ve used our home loan services or not. So, without any further ado let’s take a look at ten simple, practical ways to save money and be kinder to the environment this winter!

1. Stay Warm with Cozy Home Additions:

• Add rugs to flooring in bathrooms and other rooms to increase insulation.
• Dress in layers. Wear warm sweaters, socks, and flannel sheets to keep body heat inside.
• Incorporate blankets and throws into your decor to add extra layers of warmth, and use extra blankets and bedding for extra warmth at night.
• Use draft stoppers at the bottom of doors to prevent warm air from escaping and cold air from entering

2. Maintain Heating Equipment for Optimal Performance:

• Regularly clean or replace air filters (typically every 3 months) to improve indoor air quality and circulation.
• Check the pilot light on your furnace regularly to ensure it is lit and functioning properly.
• Keep the area around your furnace and other heating equipment clear and free of clutter to allow for proper air circulation.
• Regularly inspect and clean your chimney, flue or vent pipe to prevent blockages and ensure efficient operation.
• Check your ductwork for any leaks or damages and have them repaired as needed to prevent energy waste.
• Make sure your heating equipment is regularly maintained by a professional to ensure it is operating at peak efficiency, and address any issues promptly to avoid costly repairs in the future.

3. Adjust Thermostat for Energy Efficiency:

• Change the temperature by 7-10 degrees (e.g. 68°F) when you’re home and awake and to a lower temperature (e.g. 60°F) when you’re away or sleeping..
• Use a programmable thermostat to set temperature changes based on schedule. Try not to override your thermostat’s program, as this can reduce its effectiveness.
• Don’t turn the temperature down too low when leaving for extended periods to avoid frozen pipes.

4. Furnace Maintenance and Upgrades:

• Schedule a professional inspection to clean or upgrade your furnace. Regular maintenance is necessary to keep a furnace system working efficiently and safely.
• Switching to a newer, high-efficiency system can improve efficiency by up to 98%.
• Upgrades to the furnace system, such as a programmable thermostat or a zone control system, can improve energy efficiency.

5. Take Advantage of Utility Company Services and Tax Credits:

• Contact your utility company for a free home energy check-up.
• Participate in energy-saving programs offered by the utility company, such as peak-time rebates, where you may receive incentives for reducing energy consumption during high-demand periods.
• Take advantage of smart-thermostat programs that allow the utility company to automatically adjust your home’s temperature during off-peak hours to save energy and lower your costs.
• Check if your state or local government offers energy efficiency tax credits or rebates for HVAC upgrades or weatherization measures.

6. Seal Windows for Better Insulation:

• Detect air leaks with a candle test.
• Install window seals or sealing gaskets around the edges of the window to improve insulation and reduce air leaks.
• Consider adding window insulation foam, which can be sprayed into the gaps around windows for a more comprehensive seal.
• If you have old windows, consider upgrading to energy-efficient windows that have a higher R-value, which measures the window’s resistance to heat flow.
• Apply a clear silicone caulk around the exterior of the window to create a seal that will last for many years.
• Use draft stoppers to seal the bottom of windows, which can prevent cold air from entering the room through the bottom of the window.

7. Maximize Natural Light and Use Insulated Curtains:

• Open shades during sunlight hours to utilize natural heat.
• Close curtains at night to retain heat and prevent cold air from entering.
• Consider using insulated curtains for even better insulation.
• Consider installing a skylight or adding more windows to rooms that receive direct sunlight, to take advantage of the natural warmth from the sun.
• When selecting curtains or blinds, choose those made from insulating materials, such as heavy cotton or silk, to trap heat inside the room.
• Make sure that curtains or blinds fit snugly against the window frame and are not gaping, to reduce the amount of cold air that enters the room.

8. Use Space Heaters for Targeted Heating:

• Use plug-in space heaters to heat isolated areas instead of entire heating zones.
• Place heaters in open areas and keep away from flammables and children/pets.
• Close vents in unoccupied rooms to reduce heating output.
• Avoid overloading electrical outlets with multiple space heaters.
• Don’t use extension cords with space heaters, as they can overheat and cause fires.
• Don’t leave space heaters unattended or running overnight.
• Consider using space heaters with a thermostat to maintain a consistent room temperature.
• Turn off space heaters before leaving the room or going to sleep.

9. Upgrade to LED Light Bulbs and Unplug Devices:

• Switch to LED light bulbs for energy savings and longer lifespan.
• Unplug devices that are not in use to reduce energy consumption.
• Look for Energy Star certified LED bulbs to ensure you’re getting a high-quality, energy-saving option.
• Choose LED bulbs with a warm color temperature to create a cozy, inviting atmosphere in your home.
• Don’t forget to replace any outdoor lighting with LED options, too.
• Consider using a smart power strip to control multiple devices at once and save energy.
• Turn off lights when leaving a room to conserve energy and reduce your electric bill

10. Adjust Water Heater Temperature for Energy Efficiency:

• Change the temperature setting of your water heater to 120 degrees Fahrenheit.
• Many households have their water heaters set to 140 degrees, which is unnecessarily high and consumes more energy.
• Reducing the temperature to 120 degrees is safer for skin and easier on heating costs.
• Consider installing a low-flow showerhead, which can reduce hot water usage and help lower your energy bills.
• Wrap the tank of your water heater with an insulating blanket to improve its efficiency and reduce heat loss.

Don’t Wait to Weatherproof Your Home!

By following some of our helpful tips, we’re confident you’ll be able to say goodbye to sky-high heating bills and hello to a cozy, environmentally friendly home. By incorporating just a few of the simple solutions outlined in this article, you can make a huge impact on your wallet and the planet.

But let’s be real, being a homeowner is expensive enough, especially when Mother Nature decides to turn up the heat…or turn it off. So don’t let the weather dictate your finances and don’t wait to weatherproof your home! Today’s the day you can start using AGCU’s helpful tips and embrace cost-effective and eco-friendly solutions this winter.

Tax Scams and Security Tips

It’s tax season, so that, of course, means scams are rampant. Follow these tax security tips to help you stay safe and secure this time of year.

File your taxes early

 

By filing early, you reduce the window of opportunity for scammers to file a fake return using your info. If it’s too late for you to file early, consider filing for an extension to give yourself more time to prepare your return.

 

Keep your Social Security number (SSN) safe

 

Your SSN is a valuable piece of personal information for identity thieves. To keep it safe, avoid carrying your Social Security card with you and never unnecessarily share your SSN. When filling out tax forms, double-check your SSN to ensure it’s accurate. If you suspect your SSN has been compromised, contact the Social Security Administration ASAP! Additionally, if you receive a notice from the IRS suggesting that someone else has already filed a return using your SSN, contact the IRS and follow their instructions to resolve the issue.

 

Use strong, unique passwords when filing taxes

 

Your online tax accounts contain sensitive information, so it’s important to use strong passwords that are difficult to guess. It’s also essential to use different passwords for each account. This way, if one account is compromised, your other accounts won’t also be at risk. Finally, enable two-factor authentication whenever possible to add an extra layer of security to your accounts.

 

Be wary of phone scams

 

Phone scams are a common tactic used by scammers to trick people into revealing their personal and financial data. These scammers often pose as IRS agents and threaten legal action if you don’t pay an alleged tax debt immediately. If you receive a suspicious call, hang up and report it to the IRS.

 

Secure your mailbox

 

Identity thieves do more than just plunder your online info. They also look for sensitive information in mailboxes. Make sure your mailbox is secure and is emptied daily. For the best security, consider using a locked mailbox or a P.O. box for protecting your mail.

 

Use secure Wi-Fi networks

 

When filing your taxes online, be sure to use a secure Wi-Fi network to prevent hackers from intercepting your information. Avoid using public Wi-Fi networks, as they can be easily compromised. Instead, use a secure, password-protected Wi-Fi network you trust.

 

Beware of tax scams

 

Scammers love tax season, when there’s ample opportunity to trick people into revealing their personal and financial information. Be wary of any unsolicited emails, phone calls or text messages claiming to be from the IRS or other tax entities. Also, be skeptical of any promises of big refunds or threats of legal action. If it sounds too good to be true, or unbelievably urgent, it probably is.

 

With tax season upon us, it’s important to be aware of the various tax scams that could potentially steal your identity or money. Scammers love to take advantage of people during this time of year, so it’s crucial to stay informed and vigilant to protect yourself. In this article, we’ll explore some common types of tax scams and provide advice on how to avoid them.

1. Phishing scams

Phishing scams are one of the most common types of tax scams. Scammers will typically send out an email or text message posing as a legitimate tax authority such as the IRS. They’ll often use intimidating or urgent language, urging you to click on a link or download an attachment to avoid penalties or legal action.

However, the link or attachment will often lead to a fake website that looks like the real deal. The website will ask you to enter personal or financial information, such as your social security number or bank account details. Once you’ve provided this information, the scammers can use it to steal your identity or money.

To avoid falling victim to phishing scams, never click on links or download attachments from unsolicited emails or text messages. Always double-check the sender’s email address or phone number to ensure it’s legitimate, and never enter personal information into a website that you’re unsure of.

2. Fake tax preparer scams

Fake tax preparer scams involve scammers posing as legitimate tax preparers, often offering their services at a discounted rate. They’ll ask for personal and financial information to file your taxes, but instead, they’ll use this information to steal your identity or money.

To avoid fake tax preparer scams, be sure to research any tax preparer you’re considering using. Look for reviews or recommendations from trusted sources, and make sure the preparer has a valid Preparer Tax Identification Number (PTIN) issued by the IRS. Always ask for a quote before agreeing to use their services and be wary of any preparer who asks for payment upfront or promises an unusually large refund.

3. Phone scams

Phone scams involve scammers calling you and posing as an IRS agent, threatening legal action or arrest if you don’t pay an alleged tax debt immediately. They may ask for payment via wire transfer, prepaid debit card, or gift cards.

The IRS will never ask for payment over the phone, nor will they threaten legal action or arrest. If you receive a suspicious call, hang up immediately and report the scam to the IRS.

4. Identity theft scams

Identity theft scams involve scammers stealing your personal information, such as your social security number, and using it to file a fake tax return in your name. They’ll then collect the refund before you’ve even filed your real return.

To avoid identity theft scams, protect your personal information as much as possible. Avoid carrying your social security card with you, and never share your social security number unnecessarily. Always double-check your social security number on your tax forms, and file your tax return as early as possible to reduce the risk of someone filing a fake return in your name.

5. Refund scams

Refund scams involve scammers offering to help you get a larger refund than you’re entitled to. They may ask for payment upfront or a percentage of your refund.

To avoid refund scams, be wary of anyone promising unusually large refunds or asking for payment upfront. Always use a reputable tax preparer and check their credentials before using their services.

By staying vigilant and informed, you can protect yourself from the various tax scams that are out there. Remember to always verify the legitimacy of any communication claiming to be from the IRS or another tax agency, and never share your personal or financial information without verifying the authenticity of the request. By filing your taxes early, keeping your SSN safe, using strong passwords, being wary of phone scams, securing your mailbox, and using secure Wi-Fi networks, you can minimize the risk of falling victim to tax scams. Take the necessary precautions, and don’t hesitate to seek help if you suspect you have been targeted by a scammer. Stay safe this tax season!

 

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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Anna Ard

Member Experience Team Lead

A true legacy story!

Anna Ard’s mother, Missy has worked here for over 20 years, so Anna feels as though she was raised inside of AGCU.

When we asked her what’s her favorite place to be, She told us, “It sounds cheesy, but honestly, I’m happiest at work!”

 

Anna’s job entails supporting tellers, being an advocate for our members, and helping contribute to the teller training manual!

She is a big fan of thrift store shopping, 90s Country Music, and the TV series ”Friends” and we wonder if she could

“BE any more awesome!?!”

 

What Does Banking With A Purpose Mean to You?

“It means providing excellent member experience and building relationships with our members and coworkers”

 

What is one thing that you wish people knew about your job?

“I wish our members and co-workers know how much I love my job, but I feel like they already know”

What’s the best piece of advice you have ever received?

My Aunt told me, “listen to everything and repeat nothing.”

Fun Fact About Anna!

Anna is an avid photographer, and her talents have earned her a second-place award in a national skills competition! 

 

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Prime Rate Update

You may have seen a recent adjustment to your loan interest rate. Due to the Federal Reserve federal funds interest rate increase on December 15, effective December 26, the new Assemblies of God Credit Union prime rate is moving to 7.50%.

What is the U.S. Prime Rate?

The United States Prime Rate is a commonly used interest rate in the banking system of the United States. The Prime Rate is the interest rate that financial institutions use to set rates for different types of loans, credit cards, and lines of credit. The published rate may also affect specific mortgage rates, like variable rate mortgages, home equity loans, and home equity lines of credit. The Prime Rate is consistent because financial institutions want to offer businesses and consumers loan profitable and competitive products. A consistent U.S. Prime Rate also makes it easier and more efficient for individuals and businesses to compare similar loan products offered by competing financial institutions.

What does the Prime Rate mean to you?

The Prime Rate rate can affect many areas of your life, including credit card interest rates, small business loans, mortgages, and personal loans. It serves as a baseline that most financial institutions use to determine what interest rate to give customers. Following updates on this rate will help you make important decisions, such as what type of loan or mortgage to choose or even what APR you should be looking for when opening a new credit card. AGCU may price loans to its members at, above, or below the prime rate.

Why does the Prime Rate change, and how often?

Usually, the U.S. Federal Reserve meets around six times a year to discuss the federal funds rate. Based on the economy’s current state and future projection path, the Federal Reserve may choose to increase or decrease the rate. From this meeting, the Federal Reserve announces their change to the federal funds rate, and financial institutions adjust their interest rates to follow the Federal Reserve’s decision. Because of the frequency of changes in the rate and its influence over loans, credit cards, and mortgages, it’s essential to check for updates routinely.

Questions?

Contact a loan officer today by calling (417) 831-4398 or fill out our contact form, and we will reach out to you.

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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AGCU is Celebrating November with 30 Days of Thankfulness for our Church Heroes!

Thank you, Child Care Workers, Cleaning Crew, Sunday School Teachers, Musicians, Maintenance Team, Grounds Keepers, Sound Board Operators, Camera Crew, Bus Drivers, Greeters, Leaders, Staff, and Volunteers! You’re all HEROES to the church!

Tell us about your Church Heroes, and we will select $100 winners every Monday in November. Plus, one church will win $1,000!

CLICK HERE TO NOMINATE YOUR HERO!

8 Holiday Shopping Hacks to Help You Shop & Save

Ready, set… charge! The holiday shopping season is here. Among inflated prices, the rising cost of gas, and the urge to splurge, it can be tough to stick to your budget. Here are our top 8 holiday shopping hacks to keep your spending under budget.

Jump To:

• Make a Shopping List
• Price Shopping
• Shop With a Friend
• Use Rebates and Refunds
• Purchase Discounted Gift Cards
• Use Coupons
• Shop Early
• Black Friday Electronics Deals

 

1.  Make a Shopping List and Check It Twice

When you shop with a list in hand, and be mindful to stick to it, you can make responsible shopping decisions instead of buying every shiny thing that catches your eye.

 

2. Price Shopping By Comparing Prices

All it takes is a few quick online clicks or taps to check if an item is available for less. You can also use a price-checking app, like ShopSavvy, to search for the hottest deal.

 

3. Shop With a Friend

Grab an accountable friend to help you stay on track as you shop. Share your budget or which gifts you’ll be looking for on this trip. Ask them to gently remind you to stay within budget and on-plan as you browse.

 

4. Take Advantage Of Rebates and Refunds

Want to get paid to shop? When you make a purchase through a rebate app, like Earny or Rakuten, you get cashback for every purchase you make.

 

5. Buy Discounted Gift Cards

You can find discounted gift cards on sites, like Raise and CardCash, for big-name brands like Lowe’s, Starbucks, Amazon, and more.

 

6. Shop With Coupons

Before completing an online purchase, do a quick search of sites, like RetailMeNot, to check for available coupons that can lower the price. You can also use a browser extension, like Honey, which will automatically find and apply coupons while you shop online.

 

7. Shop Early

This year, with anticipated delivery delays and supply shortages, it’s best to tackle your holiday shopping early. Shopping with a clear head when the stores are well-stocked, will make it easier to stick to your budget.

 

8. Buy Electronics on Black Friday

The Black Friday deals you’ll find on TVs, laptops, audio equipment, and other electronics will likely be the best you’ll find all year.

 

Follow the tips outlined above to save big on gift shopping this year.

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!

 

12 Steps to Financial Wellness:

Step 10- Plan for Retirement

It’s never too early – or too late – to start planning for your retirement. However, the more time you allow for your savings to grow, the bigger the nest egg you’ll have when it’s time to cash in.

 

Here’s how to get started on planning your retirement.

 

Set a target number

First, determine how much you’ll need to have saved to live comfortably and independently throughout your retirement. Experts advise taking your current living expenses and multiplying the number by 400 to identify the amount you’ll need to sustain yourself based on a 4% return.

 

Choose your retirement account strategy

Next, you’ll need to select a place to keep your retirement savings. There are many options to consider, some of which you may already have if you are, or have been, employed. Here’s a quick review of the two most common retirement accounts:

 

1. 401(k)

If you’re employed, you likely have a 401(k) that’s working toward collecting money for your retirement. Take advantage of this retirement tool by maximizing your contributions. Also, many employers match a portion of (or all) contributions you make, which is basically free money, to help your retirement savings grow tax-deferred.

 

2. IRA

There are two popular kinds of Individual Retirement Plans (IRA): conventional IRAs and Roth IRAs. A conventional IRA will let your money grow, tax-deferred, but withdrawals are taxable. A Roth IRA does not feature tax-deferred growth, but qualified withdrawals are not taxed. Like a 401(k), some employers match a portion of (or all) contributions. But, there are federal limits on how much money you are allowed to add to your IRA each year.

 

The table below shows a brief summary of the pros and cons of each retirement vehicle for easy comparison.

 

Features	401(k)	IRA	Roth IRA
Matching Funds	Yes	No	No
Tax-Deductible	Yes	Depends on income, tax-filing status and other factors	No
Tax-Deferred Growth	Yes	Yes	No
Taxable Withdrawals	Yes	Yes	No
Maximum Yearly Contribution (2022)	$20,500	$6,000	$6,000
Maximum Yearly Contribution Age 50+ (2022)	$27,000	$7,000	$7,000

 

After you’ve selected your retirement fund, you’ll also need to choose somewhere to invest. With a bit of work and a lot of planning, you’ll have your future secured in the best way possible.

 

Read Step 1: How to Track Your Spending

Read Step 2: Creating a Budget

Read Step 3: Pay Down Debt

Read Step 4: Have the Money Talk With Your Partner

Read Step 5: Practice Mindful Spending

Read Step 6: Pay It Forward

Read Step 7: How to Pay Yourself First

Read Step 8: Know When and How to Indulge

Read Step 9: Build and Maintain an Excellent Credit Score

Read Step 10: Plan for Retirement

Read Step 11: Start Investing

Read Step 12: Review and Tweak

 

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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Scratch and Save is back August 1st!

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

Here are the ways you can get your discount:

• Postcards will be mailed to members at the beginning of August. Scratch off the circular shaded area on the back of the postcard to discover your discount.
• Log in to Online Banking and click the banner at the top of the homepage to reveal your discount. You can even click again once per day to try for a bigger discount! Online Banking will keep track of the best discount you reveal. Log in here.
• Visit one of our branches to get a scratch-off postcard from a loan officer.

Do you have a vehicle loan with another lender? See if Mystery Savings can save you money by refinancing your loan with AGCU!

Apply online or contact a loan officer at 866-508-2428.

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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 8/1/2022 – 9/30/2022. Not valid with any other offer. See credit union for complete details.

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!