Choosing the right credit card is easier than ever. Whether you want to pay down balances faster, maximize cash back, earn rewards or begin building your credit history, we have the ideal card for you!

No matter which card you choose, you’ll enjoy important features like:

• Convenient and Flexible Purchasing Power. Accepted at millions of locations worldwide.
• Mobile purchasing capability for added convenience.
• Zero Fraud Liability.* You won’t be liable for fraudulent purchases when your card is lost or stolen.
• Cardmember Service available 24 hours a day/365 days per year.
• Plus much more!

Learn More

*Elan Financial Services provides zero fraud liability for unauthorized transactions. Cardholder must notify Elan Financial Services promptly of any unauthorized use. Certain conditions and limitations may apply. The creditor and issuer of these cards is Elan Financial Services, pursuant to separate licenses from Visa U.S.A. Inc., and Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

How do I Raise my Kids to be Financially Independent Adults?

It’s commendable to try raising your kids today with an eye toward their future. Teaching your children how to be financially independent will help smooth the transition into adulthood. It will also give them the tools they need to achieve and maintain financial wellness throughout their life.

Here are some tips for raising kids to grow into financially independent adults.

Start with basic budgeting

Successful budgeting is the foundation of every financially independent household. You can introduce your children to the concept of earning money and spending it mindfully when they’re still young and then build upon that knowledge as they grow older. Preteens can watch you work on an actual budget, and teens can even assist you in creating a budget for a large expense, such as a family vacation.

Another way to bring this lesson home is by showing kids how to budget their own money. Help them create columns for “income” and “expenses,” listing their allowance, occasional gift money, and income from any jobs they may have in the income column, and the ways they’d like to use their money in the expense column. Show them how to divide their money across their expenses in a reasonable fashion and talk to them about setting aside money for the future.

Finally, you can allow your older kids to make some spending decisions on their own, provided they don’t later complain about the choices they made. For example, you can give your preteen a specific amount of money to spend on a fall wardrobe, and then let them choose to spend more on a jacket and less on a pair of sneakers, or vice versa. They may make some mistakes, but you’ll be teaching them a lesson they’ll carry with them throughout life.

Split the costs of “must-have” items

If your kids are like most, they’ll likely be asking you for all sorts of trending items they claim they absolutely need; from a pair of designer jeans that all the in-kids are wearing, to the latest fad toy they insist their entire class already has. As a parent, you may be inclined to bend and give them what they want more often than you’d like. Or maybe you play hardball by refusing most of these requests. Neither approach is likely to leave both you and your child feeling happy with your choices.

A great way to compromise on just how often to say yes to kids, and to teach them a fantastic financial lesson at the same time, is to have your child pay half the cost of expensive trending items. They’ll quickly realize that what seems like a “must-have” really isn’t when you’re the one footing half the bill. Or, they may go ahead with the purchase and either come to regret it as they learn this lesson later or enjoy the gratification that comes from paying your way toward an important goal.

Teach them about credit cards

To a child, a credit card is a magical piece of plastic that makes everything possible. If your child observes you using a credit card or debit card often, you owe it to them to teach them what’s behind that little card. Show them your credit card bill when it arrives in the mail and talk about how you need to pay for all those expenses you swiped during the month, plus the interest you may incur. Teach them about debit cards, too, explaining how money is withdrawn from your checking account when you swipe the card. It’s also a good idea to give older kids a quick rundown on credit scores, how they work and why they’re so important.

Open a checking account for your child 

Experience is the best teacher, and giving your child their own checking account can be an excellent way to teach them how they manage their own money. At AGCU, you can open a youth account, or a regular checking account under both your names to help your child learn all about money. They’ll make their own deposits (with your help), check on their balance, and may even enjoy a debit card to use as appropriate, so long as they have enough funds in their account to cover the purchases. This first account opened and managed under your watch will help them transition easily into truly handling their own money as financially independent adults.

Talk openly about what they can expect in terms of support for the future

When your child is mature enough to talk about their college years and beyond, it’s time to have a conversation about their transition into financially independent adulthood. The more you communicate about your plans now, the less room you’ll leave for misunderstandings and upset feelings in the future.

Be open and specific about how much financial support you plan to offer while they attend college, immediately after they graduate and further into the future. Ask about their plans as well, paying attention to when they anticipate being financially independent and whether you believe they are being realistic in their planning.

When speaking to your young-adult child about the future, it’s a good idea to bring up the topic of career paths and earning potential as well. You can help your child determine a basic budget for the lifestyle they plan to lead, and then assist them in narrowing down their career choices to just options that can support their future desired lifestyle. Talk to your child about student loans too, and explain how crippling debt can be.

It’s a scary world when you must step up to manage your money on your own, but it’s also a world filled with wonderful opportunities. Use the tips outlined above to help raise your child to be a financially independent adult.

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8 Ways to Protect Yourself From Holiday Credit Card Fraud

Fraudsters and scammers are always on the prowl, but experts say fraud attempts increase about 30 percent during the holiday season. So while you’re taking advantage of holiday shopping deals, fraudsters are looking to take advantage of you to steal your identity and run up charges on your accounts. Follow these tips to help protect yourself from fraud during the holidays.

1. Keep a close eye on your transaction history

It’s always important to review your account information regularly, but it’s especially critical during the holiday season when you’re likely spending more than usual. In the event of unauthorized transactions or discrepancies in your account, continual monitoring of your account will help if you need to flag suspicious activity to your bank or credit union.

2. Go mobile

Use Apple Pay, Samsung Pay, or other digital wallets as you cross things off your shopping list. Add your debit and credit cards to your digital wallets to take advantage of the latest forms of encryption protection so no matter if you’re in-store or buying online, your personal information is secure.

3. Ask yourself: Is this legit?

Be aware of scams when purchasing items online or even donating to charities. Does the deal look too good to be true? Is the site asking for irrelevant personal information? Ensure you are purchasing from legitimate and secure sites, and make sure you have the most updated anti-virus software just in case.

4. Verify site security

Before handing over your credit card information to a retailer, always verify that checkout is secure by confirming the URL starts with https://. This means the site is using an SSL certificate to secure data as it passes from the website to the server and keeps it safe from hackers.

5. Set account alerts

Most financial institutions offer customizable transaction alerts via email or text. Setting alerts can help you better manage your account (no more overdraft fees!) while also giving you peace of mind that no one else is accessing your accounts. Want to be alerted about any transaction over $50? Easy. Want to get pinged for every transaction you make with a debit card? Done.

6. Understand your credit card’s fraud protection offerings

Many credit cards offer something called “Zero Liability,” which applies to purchases made in the store, over the phone, online or via a mobile device. If your credit card offers Zero Liability, you won’t be held responsible for unauthorized transactions if you reasonably protected your card and promptly reported that your card was lost or stolen. Check your credit card agreement for more details.

7. Protect your PIN

Pay attention to your surroundings when using your credit and debit cards in public. The best way to protect your PIN is to shield the keypad anytime you enter your PIN. Also, be on the lookout for ATM skimming devices. Learn how to spot ATM skimming devices

8. Watch out for other scams

Following recent breaches, scammers are taking advantage of holiday shoppers by claiming to be from financial institutions, asking for your personal information so they can “make sure your information isn’t compromised.” In reality, anyone who contacts you directly asking for your information over the phone, via email or via social media is likely not authorized to do so. Err on the side of caution, do not respond, and proactively reach out to your financial institution to confirm if the call or message you received was legitimate.

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Avoiding Scams:

Don’t Answer Calls From These Area Codes

Robocalls have got to be one the most annoying inventions of the 21st century. Unfortunately, those phone calls can do a lot more than disrupt your dinner to send you running to the phone just to hear about an offer for an extended warranty on your car. Using sophisticated spoofing methods and dogged persistence, they can swindle unsuspecting targets out of hundreds, or even thousands of dollars, using nothing but a phone. In fact, according to data from Trucaller, Americans lost close to $30 billion to phone scams in 2020.

Technology has made it far too easy and cheap for scammers to place a huge number of robocalls in seconds. New robocall platforms can make up to 5,000 simultaneous calls a second for as little as a dollar. Even if only 10 of these phone calls have their desired effect on the targets, the scammers have pulled in a solid profit.

Here’s what you need to know about phone scams and how to avoid them.

Traffic pumping

According to federal law, rural carriers are allowed to charge wireless and long-distance carriers higher fees for calls to local subscribers. To earn a quick buck – or a few hundred – rural carriers partner up with chat lines, adult entertainment numbers and “free” conference call service providers, as well as other numbers that are based overseas. Their goal is to artificially inflate the call volume in the home area codes of the rural carriers so they, in turn, can bill the wireless and long distance companies an exorbitant amount of money and give the chat lines a kickback,too. This is known as “traffic pumping.”

The bad news for private consumers is that their wireless or landline provider will pass the higher cost structure onto them. Sometimes, the caller will be warned of a higher charge, but other times, the consumer will believe these calls are completely free – until the bill arrives.

Area code alert:

The 712 area code and the 218 area code are infamous for traffic pumping.

The one-ring scam

In this ruse, scammers use robocalling technology to call wireless numbers and hang up after only one ring. The scammers are hoping the target will be curious and careless enough to return the call. If they do, they will likely be calling a number in the Caribbean, which can cost them up to $30 a minute. A prevalent one-ring scam that originates in Japan brings that cost up to $50 a minute!

Whenever you receive a call from an unfamiliar number, it’s best to let it go to voicemail instead of picking up. Curious enough to return a one-ring call? First Google the number to see who the caller is. If it’s a scammer, you’ll likely find some warnings posted online when you look up the number.

Area code alert:
The FTC warns consumers about returning one-ring calls from these area codes:

• 268–Antigua and Barbuda
• 284–British Virgin Islands
• 473–Grenada, Carriacou and Petite Martinique
• 664–Montserrat
• 649–Turks and Caicos Islands
• 767–Commonwealth of Dominica
• 809, 829, 849–Dominican Republic
• 876–Jamaica

When an unfamiliar number comes up on your phone screen, you’re better off waiting for a voicemail to determine if you have a legitimate caller before calling it back. You can also Google the phone number itself. If the number is a scam, chances are good that others will have posted warnings about it online.

Protect your phone

If the robocalls are driving you crazy, there are steps you can take to limit the amount that reach your phone. First, place your number on the Do Not Call list. You can also reach out to your phone service provider to ask about robocall blocking functionality they may offer, though you may need to pay for this extra service. Finally, consider using a robocall-blocking app, like Hiya, YouMail or RoboKiller.

Think twice before picking up the phone from an unknown caller, or returning a call from an unfamiliar number. Stay safe!

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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YiPoA Youth Center

AGCU is honored to partner with our friends at YiPoA, Youth In Pursuit Of Awakening as they realize their vision to raise up a generation to love Jesus and live out the gospel.

Team AGCU was able to share a gift to help purchase a skid steer for construction of the YIPOA Center in Ozark, MO.  They plan to use this equipment to design and prepare riding trails and launch this God given vision into a reality!

The YIPOA’s ministry will include a recreational center for area youth with the mission of revival.

Josh and Erin Wirtmiller are the founders of YiPoA Ministry based out of Ozark, MO. Josh is a Developer for AT&T andCommunity Youth Pastor.  Erin serves as the assistant Youth Pastor and Event Planner.  Both have a heart for awakening students to

love Jesus & live out the gospel!  Pastor Josh and his wife Erin live in Ozark, MO with their son Kaiden and their daughter Kylee.

Learn more about YiPoA and their vision for Youth.

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I Pour Life  – Season Of Giving

I Pour Life is a nonprofit focused on developing people and providing them with the tools they need to become self-sufficient.

Starting on November 1st, join us in a Season of Giving. AGCU has generously started it off with a $10,000 matching gift. We believe that through your giving, we can support the addition of many youth in the LifeStrengths program in Missouri and fund our positive youth development program in Ethiopia. Our hope throughout this Season of Giving is that, as our youth are refreshed, you will also find refreshment through your generosity and gift.

Change A Life Through Your Gift Today

Your donation gives a hand up to individuals locally and globally to help them discover their strengths and become self-sufficient.

 

Each week in November we will be hosting a variety of different raffles that you can be a part of, all leading up to the global day of giving, #GivingTuesday! Stay tuned each week for details on each raffle and how to enter.

November 1st – 50/50 Raffle
November 7th – $100 Gift Certificate to Finley Farms
November 14th – 4 Tickets to Silver Dollar City
November 21st – TBD
#GivingTuesday – Tuesday, November 30th

Thank you for your continued support of our organization. We can’t wait to share the Season of Giving with 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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Christmas Gifts to Teach Your Kids About Money

Give your children the gift of financial literacy this season

It’s important that you start coaching your children on the basics of financial responsibility early in their lives. Properly saving, spending, and investing money are crucial skills for all people to master — and the sooner you can teach them, the better!

Regardless of what age they are, your child can learn a lot from receiving a gift that encourages them to develop their financial competency. Even a low-priced gift can have a valuable impact on their future by strengthening basic financial skills. Here are some ideas for your holiday shopping list for the kids in your life.

A place to store their cash

Learning good financial habits starts with knowing how to properly save and track your money. For children who are just starting to receive an allowance and possess physical currency, Money Talks News blogger Brandon Ballenger suggests giving them a place to store their money.

“There’s the traditional ceramic piggy bank (which can be an art project too, if you pick a plain one),” recommends Ballenger in a Business Insider article, “but also ATMs for kids, money mazes, and cash registers.” Or, give your child the craft materials to make their own DIY savings box.

If your child is a teenager, they may be old enough to open a joint savings account with you. Give them some cash — or have them bring their own — and walk them through the steps of opening up a savings account to start depositing and withdrawing their money. You’ll need to be a co-owner of the account if they are a minor, but that will allow you to monitor their habits and provide guidance.

Money-themed games

Learning through play is an effective way to facilitate your child’s understanding and application of basic financial principles. On her website Mombrite, STEM education expert Betty Boiron shares a list of 10 great board games she recommends to parents who want to teach their kids skills like currency denomination recognition, counting money, making transactions, and saving for large purchases.

Of course, there are time-honored titles like Monopoly or Pay Day, but you can find even better games made for children and teenagers that have been published in recent years. Some that Betty recommends are Exact Change, Buy It Right, Money Bags, and Big Money.

There are also more complex games for teenagers on the market that challenge children to apply critical thinking skills to fictitious investments, making decisions that reap the most lucrative benefits. The classic game Acquire is still a great option, in which players make money by buying stock in, merging, and expanding corporations.

Educational toys for Christmas

Did you grow up playing with a toy cash register? Hands-on recreation and role-playing allow a child to familiarize themselves with money and practice basic concepts in tactile ways. The financial educators at Freedom Sprout recommend a variety of toys for children to practice money skills. These include sets of pretend money, a fake checkbook, and a toy cash register with a digital calculator on it. If your teenager is too old for such gifts, consider gifting them stock or opening a Roth IRA with them.

Whatever you decide to buy your child — or give to a friend’s or family member’s child — make sure you spend quality time alongside them as they use your gift. Toys, games, and books are useful resources for imparting knowledge and honing skills, but they’re not a substitute for attentive coaching and interactive instruction.

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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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7 Money Myths You Need to Stop Believing Now

How many money myths have you fallen for?

We all grow up hearing the same financial advice: Spend less, save more, and invest early. While these words of wisdom certainly ring true, there are many widespread money management tips that are actually false… or, at the very least, they shouldn’t be automatically accepted as iron-clad truths.

Outlined here are 7 money myths that might be causing you more financial stress than benefit.

Myth #1: Debit is always better than credit

Do you automatically reach for your debit card when making a purchase? While it’s true that paying for expenses with money you already have in your account is often the best choice, there is a time and a place for credit cards as well.

The real deal: Credit cards get a bad rap for the debt trap they represent, but they may be your occasional payment method of choice. First, many credit cards offer rewards in the form of travel miles, cash-back systems, and other bonuses. Second, building and maintaining a strong credit history is crucial for your financial wellness. The only way to achieve this is by using your credit cards and paying your bills on time. Finally, lots of credit cards offer purchase protection, which makes them the smarter payment method for big-ticket items.

Myth #2: Buy a home at all costs

It’s part of the American Dream: Go to college, land the perfect job, get married, and buy a house, complete with a white picket fence and two cars in the driveway. And if you’re ready to buy a home, We’re here to help!

Unfortunately, though, too many people are fixed on that dream without realizing that owning a home might not be in their best financial interests.

The real deal: For many people, including those who are not yet ready to put down roots or who anticipate a career change that necessitates moving across state lines, renting a home or apartment might be the better choice. It can also be a financially expedient option if you live in a super-expensive area.

Myth #3: Investing is only for rich people

Investing is for people who drive luxury vehicles and have homes in three different states.

Or is it?

The real deal: Anyone with a small pile of money squirreled away can get a foothold in Certificates of Deposits, Money Market Accounts, or even the stock market. A smart investment strategy can be the best way to let your money grow and put you on the track to financial independence. If you’re a beginning investor, look into passively managed index funds for an easy way to start building your wealth.

Myth #4: My partner manages our finances, so I don’t need to think about money at all

Are you living in blissful financial oblivion, confident that your partner is managing your money?

The real deal: Every adult should have a handle on the family’s finances, regardless of their partner’s involvement. While it is fine for one partner to actively manage the family’s money, it is crucial for both partners to be aware of the state of the family finances and to be capable of managing household expenses and investments if something happens to a partner.

Myth #5: Credit cards will get me through any financial crisis

Why would I need an emergency fund? I have credit cards!

The real deal: Depending on credit cards to get you through a financial emergency is the perfect way to dig yourself into a deep pit of debt. Thanks to interest, you’ll be paying back a lot more than you spend. You’re also more likely to overspend when you pay with plastic.

Credit cards should not be relied upon for a real financial emergency, such as a job loss, divorce, or illness. It’s best to build an emergency fund consisting of three to six months’ worth of living expenses so you’re completely covered for the unexpected.

Myth #6: I’m so young; I don’t need to think about retirement

Who can think about retirement when it’s so far down the road because they’re just starting a career? Besides, who can afford to save for retirement when they’re bogged down with more pressing expenses, like saving for a house and putting kids through college?

The real deal: There’s no better time to start planning and saving for your retirement than right now. The younger you start building your retirement fund, the less you’ll have to put away each month, and the more you’ll save by the time you’re ready to retire. Gift yourself with a comfortable, stress-free retirement by maxing out your 401(k) contributions, and/or opening an IRA or another retirement fund. Start today and let compound interest work its magic!

Myth #7: I have enough in my account to cover my expenses so I don’t need to budget

Budgeting is for people who are barely squeaking through the month. I have enough money; so why budget?

The real deal: Budgeting is for everyone. Without a realistic budget in place, those pulling in a salary in the high six digits can easily spend their way into debt. A budget will force you to make responsible money choices and to be fully aware of the state of your finances at all times. If you need help getting started on your budget, check out our Money Management tools in online banking and our app!

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Why is Financing a Vehicle Better than Leasing?

Since the majority of buyers don’t have enough money on hand to pay for a car in full, two of the most popular options for getting behind the wheel are leasing and financing.

Navigating the car buying process can feel overwhelming, confusing, and inaccessible for many people. One of the most complicated parts of the experience can be trying to parse out how to get the best deal on a car that suits your needs. Since the majority of buyers don’t have enough money on hand to pay for a car in full, two of the most popular options for getting behind the wheel are leasing and financing.

The difference between leasing and financing

At first glance, both leasing and financing can seem like similar options, but there are a few critical differences. To put it simply, the process of financing a car is very much like paying off a home loan. You can secure a loan for the full amount of the vehicle from a third-party financial institution or directly through the dealership, then pay the loan back in monthly installments. Once you’ve paid back the loan, you own the car in full.

Leasing, on the other hand, is essentially a rental. You pay the dealership a rental fee to drive the vehicle for a set period, then return it at the end of the term.

Gain an asset

It may seem simplistic, but the fact that you’ll end up owning your vehicle in full at the end of your loan term is an essential factor to consider when choosing whether to finance or lease. In an article written by David Weliver for MoneyUnder30.com, several experts weighed in on the benefit of having a tangible asset at the end of a loan.

Allyson Baumeister, a member of the Texas Society of Certified Public Accountants, stated, “When you lease a car, you make payments for a specified period of time and then at the end of the term you have nothing to show for your money. You own nothing. However, when you buy a car, at the end of the term, you own a car.  You can keep that car indefinitely or sell that car for value.” Echoing that sentiment, Clare Levinson, a member of the National CPA Financial Literacy Commission, continued by saying, “With buying, eventually you will have paid off the car and no longer have the expense of the monthly payment,” whereas lease payments continue indefinitely.

Flexibility

The fact that you’ll end up owning your vehicle at the end of the loan term gives you the freedom to drive your car how you see fit, an option you do not receive with a lease. For instance, most lease agreements include mileage caps that limit how far you can drive your leased vehicle without racking up fees. Investopedia’s Daniel Kurt states that typical mileage limits are in the range of 12,000 to 15,000 miles per year, usually over a three or four-year term. If you drive for work or visit family frequently, a lease could end up costing you additional money per mile.

Beyond mileage caps, leasing puts restrictions on any customization — like a new sound system or radio — and any noticeable wear and tear. If you enjoy off-roading or want to use a leased vehicle on a worksite, you’re virtually guaranteed to get hit with a fine.

Furthermore, you can choose to trade or sell your car at any point during the duration of your loan. If you find that the vehicle is no longer suiting your needs, simply put the resale or trade value towards the remaining balance of your loan, and the cost of your next vehicle. You can return a leased vehicle, but since that violates the terms of the agreement, you’ll need to pay a termination fee.

Lower lifetime cost

One of the most common arguments in favor of leasing is that monthly payments are typically lower than they would be for a loan. Kurt corroborated this claim, but also mentioned, “If you’re thinking about the long-term financial impact, leases start to look less attractive.”

In his article, David Weliver broke down how paying less per month for a lease costs considerably more money in the long run. The basis for his stance hangs on the fact that at a certain point, you will no longer have to make payments on your loan. If you’ve taken good care of your vehicle, you can resell it for a profit. In his calculations, based on two identical 2014 sedans — one leased, the other financed — the driver of the financed vehicle would save roughly $6,500 over six years when compared with the driver of the leased model.

With very few exceptions, financing your car is a more secure investment than leasing. If you’re ready to begin looking for a new vehicle and have questions about our vehicle loans? Want to know about the application process? Contact us for more information or to schedule an appointment with a loan officer.

Curious about our rates?  View current loan rates here.

If you’re ready to apply, start your application now.

Interested in learning about AGCU’s vehicle insurance rates?

Take a look at AGCU Insurance and see if they can save you time and money on your insurance coverage.

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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