General Finance

Deployment for you and your family can be stressful and challenging, regardless of whether it is a first deployment or tenth. You must be able to manage your finances while deployed and Russell Country Federal Credit Union is standing by to help. These tips will acquaint you with options that can make handling finances from overseas easier. They describe the Russell Country Federal Credit Union services that can help you stay in touch with your accounts, options for designating a financial helper while you're deployed, and steps to take before, during, and after deployment. Russell Country Federal Credit Union is committed to supporting our military members. We hope you find these financial tips for deployment useful.

Better Checking

Having a checking account with Russell Country Federal Credit Union is your entrance to a long list of free services that are basic to managing your funds without unnecessary paper during deployment. RCFCU offers four types of checking accounts; you pick the one that's right for you: Free Checking, Regular Checking, Classic Checking, or Classic II Seniors Checking. Call the member service department for details or pick up the checking brochure at any RCFCU branch.

PC Home Banking

Online Banking requires an Internet connection for real-time access to your RCFCU accounts during deployment. It allows you to monitor account activity, pay loans, transfer funds among your RCFCU accounts, and view your E-statements, and RCFCU member publications. The service is backed by state-of-the-art encryption and security features, such as Multi-Factor Authentication. During your deployment, any individual you authorize to access your account via Online Banking will need to be familiar with your unique login steps.

1. Do not sign the back of your credit cards. Instead, put "PHOTO ID REQUIRED."

2. When you are writing checks to pay on your credit card accounts, DO NOT put the complete account number on the "For" line. Instead, just put the last four numbers. The credit card company knows the rest of the number and anyone who might be handling your check as it passes through all the check processing channels won't have access to it.

North Palm Beach, Fl (6/11/02)--Teens can make the most of their summer incomes with a little planning. By creating a budget and sticking to it, they can save for the future and still have fun this summer(Bankrate.com).

To develop a realistic spending plan, teens should:

• Calculate how much money they will earn over the summer. Use this formula: total summer income equals paycheck amount (gross pay minus taxes)times the number of paychecks.

While Generation X--those born between 1965 and 1976--earn more than their parents, more than half live paycheck to paycheck with an ongoing credit card balance of at least $2,000. Half of them don't know how much they have saved for retirement or have saved less than $10,000, according to a survey by Oppenheimer Funds and Yankelovich Partners (Bottom Line Personal March 15).

Some steps Generation Xers can take to get control of their money include:

The amount of debt owed by people age 65 or older has significantly increased in recent years. In 2000, 59% of older households carried debt, up from 34% in 1992, according to SRI Consulting Business Intelligence. In 1992, retirees owed an average of $8,000--that number nearly tripled in 2000 to $23,000(Bankrate.com April 3).

Debt is a part of everyday life. Today's retirees owe on houses, cars, and on credit cards. Others simply haven't saved enough for retirement. Almost half of all seniors with debt carry credit card balances.

Mind those bills. All of them. A late payment on one account could cost you higher rates and fees on all your accounts--from your credit cards to your auto insurance. More and more companies are peeking at credit reports regularly to justify raising interest rates or increasing credit limits.

Membership Benefits

The Credit Union Difference

You are an owner when you belong to Russell Country FCU. You receive a "share" of the earnings through your dividends on savings and investments. You also receive lower loan rates. By becoming a member you are eligible for all membership benefits, and (at age 16 or over) to vote for the people who will oversee the operations of the credit union, the Board of Directors. You may also volunteer for numerous Committees.

Once a Member Always a Member

Gas prices are skyrocketing! Here are some tips for getting the best gas mileage possible with a few tips from the American Automobile Association (AAA) and Consumer Reports (CBS MarketWatch May 23):

• Pack lightly when traveling and remove items that unnecessarily weigh the engine down such as roof racks or car-top luggage carriers;

• Keep the tires inflated because it helps the car's handling and ride quality as well as its fuel-efficiency;

Children of Americans 59 and older will be the heirs of the wealthiest group of seniors in the nation's history, but their good fortune may present all kinds of problems.

Money accumulated through the stock market, real estate, pensions, and other investments to the tune of $41 trillion will be up for grabs for the next 50 years, according to a study at Boston College's Social Welfare Research Institute. But are the heirs ready?

Bright, shiny, and new--or economical, dependable, and used? When it comes to cars, the debate over whether to buy new or used continues. While consumers are collectively purchasing 16 million new cars each year, more people than ever continue to drive their older cars or choose to purchase previously owned vehicles.(MSN.com Aug 29)