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Avoiding Holiday Fraud and Reporting Lost Cards

Melanie Tarrant on November 14, 2025

🎄 Don’t Let Fraud Steal Your Holiday Cheer

The holiday season is a time for joy, generosity, and connection — but it’s also one of the busiest times of year for scammers. As shopping and online activity surge, so do attempts to trick consumers into sharing personal information, sending money, or clicking malicious links.

At AGCU, we want to help protect you and your family from holiday scams. Most holiday frauds are simply variations of everyday scams that take advantage of increased spending, shipping, and charitable giving. By staying alert and knowing what to look for, you can keep your information — and your holiday — safe.

🛍️ Common Holiday Scams

1. Fake Shopping Websites and “Too-Good-to-Be-True” Deals
Scammers create websites or social media posts impersonating major brands. These “spoofing” sites advertise incredible discounts on popular gift items — but the products never arrive. Worse, they’re designed to steal your payment and personal information.

2. Phony Order Confirmations and Coupon Emails
Fraudsters send realistic-looking “order confirmation” or “delivery update” emails containing malware links or fake tracking forms. Clicking these links can expose your account details to criminals.

3. Gift Card Fraud
Gift cards remain a top holiday scam target. Thieves sometimes tamper with cards in stores or trick people into paying for purchases or donations with gift cards.

4. Fake Charity Appeals
Scammers exploit the season of giving by impersonating charities or ministries and pressuring you to donate immediately.

⚠️ Red Flags to Watch For

  • Huge discounts on “hot” products or limited-time deals from unfamiliar websites

  • Spelling or formatting errors in emails or online stores

  • Unsolicited messages asking you to click a link, download an app, or confirm an order

  • High-pressure tactics urging instant donations or purchases

  • Any request for payment by wire transfer, cryptocurrency, or gift card

🧠 How to Protect Yourself

Shop safely.
Type the store’s web address directly into your browser instead of clicking email or text links. Use trusted retailers and check for “https://” in the URL.

Pay smart.
Use a credit card — not a debit card — when shopping online. Credit cards offer stronger protection and make it easier to dispute fraudulent charges.

Buy gift cards wisely.
Purchase directly from the issuing business rather than from retail racks. Register cards when possible and use them promptly.

Stay secure online.
Avoid shopping or accessing sensitive accounts on public Wi-Fi unless you use a secure VPN.

Verify before you give.
If a charity pressures you to donate immediately, that’s a red flag. Legitimate organizations will let you give when you’re ready.

🔐 Smart Cybersecurity Habits for the Holidays

  • Use strong, unique passwords for every account, and consider a password manager.

  • Enable biometrics or PINs on your phone and devices to protect against theft.

  • Turn on multi-factor authentication (MFA) wherever possible.

  • Watch for suspicious emails or texts — don’t click unknown links or attachments.

  • Monitor your accounts regularly and set up alerts for new payees or unusual activity.

  • Keep your software and apps updated — updates often include critical security patches.

By taking small steps now, you can enjoy a safer, stress-free holiday season and protect your financial wellness all year long.

🚨 If You Suspect Fraud

If you believe you’ve been a victim of fraud or your cards are lost or stolen, contact us immediately.

Credit Cards

📞 1-800-558-3424 (24/7 assistance)
Missionaries unable to dial 800 numbers may call 1-701-461-0125.

Debit Cards

If your debit card is lost or stolen, don’t wait to report it. Call us right away at 866-508-AGCU (2428)

  • STEP 1
  • Click here to file a Dispute Form
    or
    Call 833-882-0867 Use this number to call in and open a new fraud case on a closed card
    Monday – Friday 8 a.m. – 7 p.m. CST
    Voicemail after hours and calls are returned by the next business day.
  • STEP 2:
  • ALWAYS call AGCU 866-508-2428 for a replacement card after reporting a lost or stolen card and speak with a Member Care Representative. Do not depend on email; speak to a person!

📧 Email & Text Message Safety

AGCU will never solicit you for information relating to your account in an email or over the phone.

The NCUA (National Credit Union Administration) does not have any personal information on our membership. Email posing to be from the NCUA is false and an attempt to obtain your personal financial information.

If you have moved, we may contact you to verify your current address.

If you are suspicious of an email appearing to be from AGCU, please call us to verify its validity.


Remember: The holidays should be filled with joy, not worry. Stay cautious, stay informed, and together we’ll keep “Banking with a Purpose” safe and secure.

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.
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7 Tips For Avoiding Common Money Mistakes – And Fixing Them With AGCU

Melanie Tarrant on March 27, 2025

Managing your money doesn’t come with an instruction manual — and even the most financially responsible people make a few missteps. The good news? Most common money mistakes are easy to fix with a little awareness, a solid plan, and the right financial tools.

Here are some of the most common pitfalls — and how to avoid them using AGCU’s services to build a stronger financial future

Avoiding Common Money Mistakes

1. Ignoring Your Financial Situation

The Problem:
It’s easy to coast through daily life without knowing how much money is in your account, how much debt you owe, or even what your credit score is. But ignoring your finances can lead to overdrafts, missed payments, and a lack of savings when you need it most.

The Fix:
Take time to regularly check your balances, track spending, and monitor your progress toward financial goals. Budgeting apps, online banking tools, and simple spreadsheets can help you stay organized.

AGCU Solution:
Use Online & Mobile Banking to track your accounts anytime, anywhere. And make your money work harder with a FREE Loyalty Plus High Yield Checking Account — you’ll earn competitive interest just by managing your money well.

2. Not Having Clear Financial Goals

The Problem:
Without goals, it’s easy to spend impulsively and wonder where your money went. A lack of direction can lead to missed opportunities and little progress toward long-term dreams.

The Fix:
Set short-term and long-term goals — like building an emergency fund, saving for a home, or preparing for retirement. Goals help you focus your spending and stay motivated.

AGCU Solution:
Open a Savings Account to get started, or Money Market Account for higher returns and easy access to your funds. Planning for retirement? Consider an IRA to help your savings grow tax-advantaged over time.

3. Failing to Communicate About Money

The Problem:
Many couples or families avoid talking about money to prevent conflict — but this often leads to confusion, mismatched priorities, and financial stress.

The Fix:
Set time aside for open, honest money conversations. Align on spending habits, savings goals, and shared responsibilities to build trust and teamwork.

AGCU Solution:
Use Shared Accounts to make managing household finances easier, and explore tools like online bill pay and alerts to stay in sync and avoid surprises. All of these are included for FREE with AGCU Online and Mobile Banking

4. Not Planning for Medical Expenses

The Problem:
Medical costs can pop up unexpectedly, and without a plan in place, they can derail your budget or lead to debt.

The Fix:
Start saving ahead for future health-related needs. A dedicated account helps ensure you’re financially prepared for out-of-pocket expenses.

AGCU Solution:
Open a Health Savings Account (HSA) to save pre-tax dollars for qualified medical expenses. Funds roll over year to year, and you stay in control of how and when they’re used.

5. Letting Savings Sit Idle

The Problem:
Many people leave money in basic accounts that don’t earn much interest — which means you’re missing out on potential growth.

The Fix:
Reevaluate where you’re storing your savings. Even small improvements in your interest rate can add up over time.

AGCU Solution:
Upgrade your savings strategy with a FREE Loyalty Plus High Yield Checking Account or Money Market Account. These options offer higher returns while keeping your money accessible. or, If you won’t need immediate access to funds, consider a CD for more competitive rates

6. Not Building an Emergency Fund

The Problem:
Life is unpredictable — and without an emergency fund, even a small surprise expense can throw off your finances or push you into debt.

The Fix:
Aim to save at least a few months’ worth of expenses. Set up automatic transfers to make saving consistent and painless.

AGCU Solution:
Start with an AGCU Savings Account, and set up recurring transfers from your checking account to grow your cushion over time.

7. Relying Too Much on Credit

The Problem:
It’s easy to fall into the habit of swiping now and worrying later. High-interest credit card debt can build quickly and make it harder to save.

The Fix:
Use credit responsibly, and focus on paying down high-interest balances first. Be mindful of your credit utilization to protect your credit score.

AGCU Solution:
AGCU offers low-rate credit cards and personal loans to help you manage or consolidate debt. Use these tools to regain control and reduce interest costs.

Start Smart, Stay Strong

Avoiding these common money mistakes can help you build financial stability and confidence. Whether you’re just starting your savings journey or optimizing your current strategy, AGCU offers tools to help you succeed every step of the way — from checking and savings accounts, to IRAs, Health Savings Accounts, credit cards, and more.

💡 Ready to take control of your financial future? Learn more about Banking with a Purpose and open an account today.

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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Unlocking the Power of Compound Interest: How to Make Your Money Work for You

Melanie Tarrant on February 21, 2025

If you’ve ever heard the phrase “make your money work for you” and wondered what it means, the answer is simple: compound interest. It might sound like something out of a finance textbook, but in reality, it’s one of the easiest ways to build wealth over time—without doing much at all!

What Is Compound Interest?

Compound interest is like a snowball rolling down a hill. It starts small, but as it picks up more snow, it grows bigger and bigger. In financial terms, compound interest is when you earn interest on both your original money (principal) and the interest that has already been added to it. Over time, this “interest on interest” effect helps your money grow exponentially.

Let’s break it down:

  • If you deposit $1,000 in a high-yield savings account with an annual interest rate of 5%, you’ll earn $50 in interest after one year.
  • In the second year, you’ll earn interest not just on the original $1,000 but also on the $50 you earned in year one—so you’ll make $52.50 instead.
  • This cycle continues, and over time, the growth becomes much more significant than simple interest, which only earns money on the initial amount.

Why Should Young Adults Care?

The key to maximizing compound interest is time. The earlier you start, the more time your money has to grow. Even small amounts saved consistently can turn into a substantial sum.

For example, if you start saving in your 20s instead of your 40s, you could end up with double or even triple the amount of money in retirement—all because of compound interest!

Where Can You Take Advantage of Compound Interest?

The best part? You don’t need to be an investing expert to benefit from compound interest. Here are some safe and secure banking products that help grow your money:

💰 High-Yield Loyalty Plus Checking

Unlike regular savings accounts, High-Yield Loyalty Plus Checking accounts offer better interest rates, meaning your money grows faster. Look for options with no fees so you don’t lose any of your earnings.

📈 Certificates of Deposit (CDs)

CDs offer guaranteed returns by locking in your money at a fixed interest rate for a set period (like 6 months, 1 year, or 5 years). And thanks to compound interest, your earnings will keep stacking up.

📊 Money Market Accounts

These accounts often provide higher interest rates than standard savings accounts while still allowing you to access your money when needed. They’re a great choice if you want a mix of growth and flexibility.

Start Small, Think Big

Even if you only have $20 or $50 to set aside each month, it’s worth it! The more you contribute, the more you take advantage of the magic of compounding. So, why wait? The sooner you start, the bigger your financial future can be.

AGCU is committed to helping you build a strong financial future with secure, high-yield banking options designed to maximize your savings. Whether you’re just starting out or looking to grow your nest egg, our High-Yield Loyalty Plus Checking, CDs, and Money Market Accounts provide competitive rates and the power of compound interest to help your money grow effortlessly. Plus, with easy online and mobile banking, you’re always in control. Don’t wait—open an account with AGCU today and take the first step toward financial success! and let compound interest do the heavy lifting!

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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Banks vs. Credit Unions: What’s the Difference and Why AGCU Might Be Right for You!

Melanie Tarrant on January 13, 2025

When it comes to managing your finances, choosing the right financial institution can make a world of difference. Both banks and credit unions offer similar services, like checking and savings accounts, loans, and online banking. However, their structures, goals, and the benefits they provide set them apart. Let’s dive into what makes them different—and why AGCU might be your ideal choice.

Banks vs. Credit Unions: Key Differences

Ownership and Purpose

Banks are for-profit institutions owned by shareholders. Their primary goal is to generate profit, which is returned to shareholders as dividends. In contrast, credit unions are not-for-profit organizations owned by their members. This means that when you join a credit union, you’re not just a customer but an owner. You can attend annual meetings, vote on credit union board members, and help guide the direction of the credit union.

While anyone can open an account with a bank, credit unions typically have specific membership requirements. Qualifications vary but are generally based on factors like where you live, work, worship, or your association with a particular organization.

As a credit union, AGCU is committed to serving our members and the Assemblies of God by offering tailored financial solutions that reflect our shared faith and community values. When you bank with us, you support a financial institution that shares your values and helps build the Kingdom of God.

At AGCU, every decision is made with members in mind, not shareholders. Our mission is to help you manage your finances to align with your faith and values.

How Profits Are Used

Since banks operate as for-profit entities, their income often goes toward paying taxes, expanding operations, or rewarding shareholders. On the other hand, credit unions reinvest their earnings into member benefits like lower interest rates on loans, higher rates on savings accounts, and reduced fees.

For AGCU members, this translates into financial advantages like affordable loan options, competitive savings rates, and resources designed to support ministries, families, and individuals alike. But more importantly, when you use AGCU for your day-to-day banking needs, you support worthy causes, both where you live and worldwide.

We donate 10% of our annual earnings to support churches, ministries, educational scholarships and programs, and humanitarian efforts each year.

Every day, we provide vital financial services to people, ministries, and businesses throughout the United States. We also support missionaries in 190 countries around the world.

Convenience Without Compromise

Big banks often focus on scale and efficiency. While they have great online and mobile technology, many customer transactions are limited to their specific bank branches and ATM locations.

Credit unions typically have fewer physical branches, so they make up for it with shared branch networks and robust digital tools. AGCU members enjoy access to over 5,000 shared branches and 30,000 surcharge-free ATMs nationwide through the CO-OP Shared Branch Network, along with user-friendly online, mobile, and video banking. You’ll always have access to your accounts when you need it.

Lower Fees and Better Rates

Credit unions are known for their lower fees and competitive rates. Whether it’s a loan for a new car, a mortgage, or a savings account, you’re likely to find better deals at a credit union.

Are Credit Unions Safer Than Banks?

Federally insured credit unions and banks are both safe places to keep your money. Money kept in banks is insured by the FDIC. And federally insured credit unions offer NCUA insurance. Both are federal insurance backed by the U.S. government. Both offer protection up to $250,000 per account.

AGCU: More Than Just a Credit Union

At AGCU, we’re more than a financial institution. We’re a ministry partner, here to help you live out your Kingdom calling. From checking and savings accounts to loans and digital banking, we offer a full suite of financial services tailored to your needs.

When you bank with AGCU, you’re not just making a wise financial choice but investing in a mission-driven organization that shares your faith and values. It’s Banking with a Purpose.

Why Choose AGCU?

To decide if a bank or a credit union is better for you, you’ll need to identify what’s important to you and how each type of financial institution matches your priorities.

At AGCU, we offer a comprehensive range of financial services to meet the needs of our members. Whether you’re managing your family’s finances, leading a church, or running a small business, we have the tools and resources to help you achieve your goals.

Making the Switch

If you’re looking for lower fees, personalized service, and a financial partner who truly understands your values, a credit union like AGCU might be the perfect fit.

Ready to experience the difference? Call us today at 417-831-4398 , Apply online, Begin a Video Call or Stop by one of our branches to learn more about becoming a member today. Together, we can build a better financial future rooted in faith, community, and trust.

12 Steps to Financial Wellness-Step 1: How to Track Your Spending

Melanie Tarrant on January 11, 2025

12 Steps to Financial Wellness

12 Steps to Financial Wellness-Step 1: How to Track Your Spending

Step 1: How to Track Your Spending

Are you ready to join us on a journey toward financial wellness?

Each month, AGCU will focus on one step of a journey of financial wellness. We’ll tackle the topic in detail and help you learn all you need to know about this step. Follow along, and at the end of the year, you’ll have mastered the tools for a life of financial wellness.

Tracking your spending is the first step toward greater financial awareness and, ultimately, toward financial health. However, mastering this skill is easier said than done. How can you track every dollar you spend when you make multiple purchases each day?

We’ve outlined how to track your spending in 3 easy steps.

1. Choose your tools

Tracing every dollar’s journey isn’t easy, but with the right tools, you can make it quick and simple. Choose from one of the following money-tracking techniques:

  • Budgeting apps. AGCU has helpful budgeting tools with online banking. just log on to your account through our web portal and click on the “My Finance” tab. If your life happens on your phone, you use budgeting apps like YNAB or Mint to help you track your spending. Both apps allow you to allocate a specific amount of money for each spending category for each month and will enable you to track your spending with just a few clicks. It’s important to note that YNAB is not a free app, but that it may be worth the price for users who want to take on a more active role in their money management.
  • Spreadsheet. If you like to see everything spelled out clearly, a spreadsheet might be a better choice for you. You’ll need to record every transaction, but if you prepare the sheet with all the spending categories you think you’ll need, this step shouldn’t take long at all.
  • The envelope system. If you’re a big cash spender, consider withdrawing the cash you think you’ll spend in a month (or in a week) and keeping it in an envelope designated for each category. When you need to make a purchase, just use money from the envelope.
  • Receipts. Hold onto every receipt from the purchases you make this month to help you track your spending.
  • Pencil and paper. Recording each purchase the old-fashioned way can help you make more mindful money choices throughout the day. Be sure to keep a steady supply of both writing instruments handy at all times so you never miss a purchase.

2. Review your checking account and credit card statements carefully

Along with one of the tools listed above, you can track the purchases you make using plastic by reviewing your monthly checking account and credit card statements at the end of the month. You may receive these in the mail, or you can access them online by logging into your account and downloading.

3. Review and categorize your purchases

At the end of the month, use your chosen tool to review all the purchases you’ve made throughout the month. If you’ve used an app or a spreadsheet, adding your purchases to find the total amount of money spent will be simple. The app or spreadsheet may have already helped you divide the money spent into separate categories as well. Similarly, if you’ve used the envelope system, you should know how much you spent on each kind of purchase this month. However, if you’ve chosen another method to track your spending, you’ll need to crunch some numbers to get an accurate picture of your spending habits.

When completing this step, don’t forget to include any automated payments you may rarely think about, such as subscription fees and insurance premiums.

Tracking your spending and identifying your money drains is the first step toward greater financial awareness and responsibility. Use the tips outlined here to successfully master the skill of tracking your spending.

 

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.
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Your Complete Year-End Financial Checklist

agcu2023 on December 4, 2024

Is your monthly budget still working well for you? Are you stretching some spending categories or finishing each month in the red? Take some time to review your budget and make any necessary changes.

Insurance Check-up New Year Resolution

agcu2023 on December 2, 2024

Make An Insurance Check-Up Your New Year’s Resolution!

Insurance is not a “buy it and forget it” product. An annual check-up on your current insurance policies can result in a healthier policy and a healthier pocketbook.

Regardless of which types of insurance you own now, your coverage will probably need some adjusting over the years. You may even have to purchase new types of insurance that you didn’t need before.

An annual insurance checkup is a smart idea! Considering what new types of coverage you might need and reviewing your current coverage once a year, even if you don’t think there have been any significant changes in your circumstances, will help ensure that you stay adequately protected and avoid any unpleasant surprises if you ever have to file a claim.

To stay on track, do your annual review around the same time each year.

In addition to your routine annual insurance review, you should re-evaluate your coverage any time there is a life event or significant change in your circumstances that either increases or decreases your risk—and, therefore, your need for protection.

Home, Auto, and Property Insurance:

This area of insurance changes frequently which means there could be opportunities to get more coverage and perhaps save money. It isn’t unrealistic to consider getting new bids for all your non-life policies every year to be certain you’re not spending too much or getting too little for your dollar. It is also a good time to make sure your home policy covers any upgrades or additions you’ve made to your home since its original purchase.

Life Insurance:

You might think you already did an in-depth review of your needs when you originally purchased your life insurance policy. At that time, you considered your family’s financial needs, took inflation into consideration, and decided on a coverage amount and term. Yet, every new year brings changes into our lives, such as weddings, births, divorces, new jobs, new roles, variations in salary, etc. These important events should be reflected in your life insurance policy to ensure it is keeping up with your expectations.

Available Insurance Offers and Products

AGCU Insurance offers over 20 different types of insurance. This includes traditional home and auto insurance but also includes other policies like pet and wedding insurance. Here are some of the most popular insurance policies currently offered:

 

    • Auto, Motorcycle, and Scooter

    • Boat, ATV, and Recreational Vehicle

    • Life

    • Home, Condo, and Vacation Homes

    • Wedding

    • Landlord Policies

    • Renters

    • Pet

    • Valuable Items

    • Flood, Sinkhole, and Disaster-related

    • Home Warranties

Reviewing your life insurance is not as complicated as you might think. All you have to do is consider the following points:

       

        • What’s changed in your life since the policy was purchased? Have you gotten married, divorced, or expanded your family? Does the original need the life insurance policy was intended to meet still hold true today?

        • Relationships and obligations change over time. Does your beneficiary selection need to be revisited? If so, call 866-508-2428 or 417-447-9356 or Email: insurance@agcu.org, and we will send you the appropriate form.

        • Have you changed addresses?

        • Your financial circumstances or lifestyle may have changed over the years. Have you acquired more debt or increased your income? For your loved ones’ sake, be sure your policy is keeping track with these changes.

        • Have you lost a significant amount of weight or quit smoking? Improving your health is not only good for your life, it might be good for your life insurance coverage. Call us to find out.

        • Check the expiration date on your term policy. It’s important to keep track of this so you can extend it if necessary.

Your AGCU insurance professional will be familiar with your current coverage and can provide valuable guidance regarding what you need to stay adequately protected and even how to save money on premiums.

Block out an hour, call an insurance agent, and get answers to these important questions.

What Type of Coverage Do I Have?

How Much Coverage Do I Really Need?

How Can I Lower My Premiums?

What are my deductibles and discounts?

The Best Coverage at the Right Price

In order to ensure that you’re getting the most bang for your buck, AGCU Insurance is dedicated to minimizing fees, loading on discounts, and offering competitive policies. There are a variety of discounts available. These include multi-car, multi-driver, new car, paperless, multi-policy, good student, and many others.

Additionally, AGCU Insurance offers free coverage checkups.

If you live in Arkansas, Kansas, Missouri, Oklahoma, or Texas, Fill out the Quote Request Form at the top of the page, or contact Sherrie and Dee today to obtain a quote!

Phone: 866-508-2428 or 417-447-9356

Email: insurance@agcu.org

If you live outside of those five states, visit the AGCU Insurance  website or call 866-397-4086 for more information.

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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Saving for Real Estate Taxes and Insurance Without an Escrow Account

Melanie Tarrant on October 15, 2024

Many homeowners rely on escrow accounts to manage real estate tax and homeowners insurance payments. These accounts allow mortgage servicers to collect a portion of your taxes and insurance along with your monthly mortgage payment, ensuring those big bills are handled on time. However, not all members choose this option—either because they’ve paid off their mortgage, or they’ve received an escrow waiver. If you’re in this situation, here’s how to manage these payments on your own and make the most of your money in the process.

What Is an Escrow Account?

An escrow account is typically required by mortgage lenders to ensure real estate taxes and homeowners insurance are paid on time. Each month, part of your mortgage payment goes into this account, and your lender pays those bills on your behalf when they’re due. It’s a convenient way to break large, annual bills into smaller, more manageable amounts.

Benefits and Drawbacks of Escrow Accounts

Benefits:

  • Convenience: With an escrow account, your servicer handles the payments for you. This reduces the number of bills you have to track and ensures you don’t miss a due date.
  • Budgeting Help: Breaking large bills into smaller monthly amounts can make it easier to budget and avoid hefty lump sum payments at the end of the year.

Drawbacks:

  • No Interest: Most escrow accounts don’t pay interest on the funds sitting there waiting to be used. This means you miss out on potential earnings that your money could generate in a savings account.
  • Less Control: Since the lender controls the funds and when payments are made, you have less flexibility with how and when your money is used.

How to Save Without an Escrow Account

If you’ve opted out of escrow, you’ll be responsible for paying your real estate taxes and insurance on your own. Here’s a disciplined approach to make sure you have the money when you need it:

  1. Open a Dedicated Savings Account: Set up a separate, interest-bearing savings account specifically for real estate taxes and insurance. This way, your money is working for you while it sits, waiting to be used. Click here to see our current interest rates on Hight Yield Checking, CDs, and Money Market Accounts.
  2. Calculate Your Annual Payments: Estimate your total yearly payments for real estate taxes and homeowners insurance. You can typically get this information from your local tax authority or insurance provider.
  3. Set Up Automatic Transfers: Divide your total yearly payment by 12, and set up monthly automatic transfers into your dedicated account. This makes saving easier and ensures you’re consistently putting money away.
  4. Monitor Your Balance: Regularly check your savings account with AGCU Mobile and Online Banking to make sure you’re on track. If there are any changes to your tax or insurance rates, adjust your savings plan accordingly.
  5. Maximize Interest: Choose an account with a higher interest rate so your savings can grow. While it might not generate huge returns, every little bit helps when preparing for large expenses. Click here to see rates!
  6. Lower Your Insurance Payment: If you haven’t compared rates in a while, contact AGCU Insurance to see if you can lower your homeowner’s insurance costs.

Discipline Is Key

One of the main challenges of managing these payments without an escrow account is the discipline required to save consistently. If you’re not careful, it can be easy to fall behind on saving and face a large, unexpected bill at the end of the year. A separate savings account with automatic transfers can help avoid this issue.

If you don’t have an escrow account, we highly recommend opening an interest-bearing savings account today. Not only will this help you prepare for your annual real estate tax and insurance bills, but it also allows you to earn interest in the meantime. Talk to one of our Member Services Representatives today about setting up an account that works for you.

Disclaimer: This article is for informational purposes only. Please consult a lawyer or accountant for professional advice on managing real estate taxes and insurance.

Your Ultimate Pre-Vacation Checklist: Financial and Practical Tips

Melanie Tarrant on July 30, 2024

Your bags are packed, your itinerary is set, and you’re counting down the minutes until you take off for your dream summer getaway. Before you head out to the airport, though, read through this checklist of important things to remember, especially when it comes to your finances.

1. Notify Your Credit Union About Your Vacation Plans

Give us a call at 866-508-2428 before you set off on your vacay. Let us know your vacation destination so we can honor any card transactions you make while in another state. If you’re traveling overseas, ask us about foreign transaction fees and best practices for using cash and cards. We’ll help you make the best decisions for managing your money while you’re away.

2. Check Your Auto Insurance Plan

If you plan on renting a car, check with your auto insurance provider to find out if rental cars are covered in your policy. This can save you from purchasing unnecessary additional coverage. Contact AGCU Insurance to learn more about your insurance options

3. Pay Your Bills

Before heading out, make sure all of your monthly bills are paid up. You don’t want to be busy paying bills during your vacay or risk getting late fees. Log in to your AGCU account, or open one here to set up automatic payments for peace of mind.

4. Automate Your Email

Set up an automatic email response that lets people know you’re out of the office. This avoids appearing unprofessional or unresponsive and keeps your contacts informed.

5. Hold Your Mail

If you’ll be gone for a while, ask the USPS to hold your mail at the post office until your return. You can do this online and prevent your mailbox from overflowing.

6. Unplug Electronics

Pull the plug on all small appliances and electronics before you leave to prevent vampire energy leakage and potential fire hazards.

7. Clean Your Home

Before your departure, give your house a thorough cleaning. Dispose of any perishable food items from your refrigerator to avoid coming home to unpleasant odors. Consider eating or donating food that will expire while you’re away. You’ll be greeted by a spotless, clean-smelling house upon your return, and you’ll help avoid an invasion by ants or other critters.

8. Inform Your Mobile Service Provider

If you’re traveling abroad, check with your cellphone company about possible overseas service plans that allow you to use your smartphone for calls, texts, and internet access when on vacation.

9. Turn Off Your Water Supply

Avoid coming home to a flood by turning off your water supply before leaving. This simple step can prevent major water damage. This tip is especially helpful if you’re house is in a climate where pipes can freeze

10. Adjust Thermostats

If you have the AC blasting throughout the summer, remember to adjust your thermostat before leaving. Turning it off completely is unwise, as you’ll want some air to circulate to keep humidity under control and avoid mold growth. Also, set your hot water heater to vacation mode/setting.

11. Use a Timer for Lights

Keep the prowlers out by setting your lights to go on and off in different rooms and at different times of the day throughout your vacation.

12. Confirm Your Reservations

It’s a good idea to confirm your flight, hotel room, car rental, and attractions before setting out on your trip. This ensures you have everything in order and can avoid any last-minute surprises.

13. Exchange Currencies in Advance

If you’re traveling internationally, exchange some currency before you leave. This saves you from the hassle of finding a currency exchange service upon arrival and often provides better exchange rates.

14. Secure Your Home

Make sure all doors and windows are locked securely before you leave. Consider installing a home security system or using a security service to monitor your home while you’re away.

15. Inform a Neighbor or Friend

Ask a trusted neighbor or friend to keep an eye on your home. They can collect any packages, check your property, and ensure everything looks normal. Provide them with your contact information in case of emergencies.

16. Manage Your Subscriptions

If you receive any newspaper or magazine deliveries, pause these subscriptions to avoid them piling up and signaling to others that you’re not home.

17. Prepare for Emergencies

Leave a copy of your itinerary and important contact numbers with a trusted person. Make sure they know how to reach you in case of an emergency.

18. Double-Check Travel Documents

Ensure all your travel documents, such as passports, visas, and driver’s licenses, are up to date and easily accessible. Make copies of these documents and keep them in a separate location from the originals.

19. Check Weather Conditions

Check the weather forecast for your destination and pack accordingly. This can help you avoid unexpected weather-related issues and ensure you have the right clothing and accessories.

20. Pack a First Aid Kit

Include a basic first aid kit in your luggage. This should contain bandages, antiseptics, pain relievers, and any prescription medications you may need.

21. Back Up Important Data

If you’re taking electronic devices like laptops or tablets, back up important data before you leave. This ensures you don’t lose any vital information in case your device is lost or damaged.

23. Set Up Mobile Banking Alerts

Enable mobile banking alerts to monitor your accounts for any unusual activity. This allows you to quickly respond to any potential fraud or issues while you’re away.

24. Pack Smart

Make a list of all essential items you need to bring and check them off as you pack. Remember to include chargers for your devices, travel-sized toiletries, and any other necessities.

25. Review Health and Safety Guidelines

Check the health and safety guidelines for your travel destination, especially if you’re traveling internationally. Be aware of any vaccinations, health advisories, or safety concerns.

26. Plan for Pets

If you have pets, arrange for their care while you’re away. This could mean hiring a pet sitter, boarding them at a kennel, or asking a friend or family member to look after them.

By following these tips, you’ll be well-prepared for a relaxing and enjoyable trip. Safe travels!

Banking With A Purpose

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