RIGHT WHERE YOU BELONG

TFCU member Haftu learned what being a member of a
credit union is really all about when he started talking
to TFCU employee Pricilla.

When a person walks into one of our branches or gives a call to our call center, our goal is to help that person select products and services that best meet their needs – in other words, we use “consultative” approach.  What we do is listen, ask questions, and based on that conversation we recommend solutions. Consumers come to our branches seeking to satisfy a particular financial “need” like  a car loan, a checking account, a home loan, even to seek answers on retirement. 

Sometimes a member simply decides that a credit union isn’t for them and they come in to close their account.  That was what happened with Haftu, a member since 2010, he hadn’t really figured out what the credit union could do for him so he came in to close his account.  Originally friends had told him that Credit Unions were a great place to get a loan so he decided to open an account before he really knew what he was going to do with the account, figuring once he was ready we would be here for him.  But after two years Haftu realized he never really used the account and he decided that he no longer needed it.  He came into our Miramar branch to close his account, and was helped by Priscilla.  There was an immediate spark to their conversation as they talked about their families—nothing really to do with banking, or Haftu’s account.  For the first time since 2010 Haftu saw what makes a credit union different. 

Haftu explains it this way,  “Priscilla treated me as if she owned the company.  She acted as if she had the authority to solve my problems.  She has a genuine smile and cared about me.  She made me realize that I did not want to close my account, and that this is ‘right where I belonged’.” 

By peeling away the layers and discovering Haftu’s real needs, Priscilla was able to suggest products and services that would work perfectly to help meet Haftu’s financial needs.  Priscilla combined what she learned from listening to Haftu with her knowledge of the products we have to offer in order to identify a need that Haftu had not realized existed. During their conversation she learned that Haftu had a vehicle that was financed through a dealership.  She did some research on that loan and found that we could lower the interest rate and the payment.  The new payment and terms of the loan were easy to work into Haftu’s budget needs.  His monthly payments are lower and he is now saving money!

Haftu told us,  “I did not think I was in a position to lower my payments.  Not only was Priscilla able to do this, but she also set me up with a program which delayed my first payment for 90 days!  Even if I had not qualified for the auto loan I knew that I would not be closing my account.  Priscilla did everything she could to help me.  I will spread the word that the first place to go for any banking needs is Tropical Financial Credit Union!” 

Haftu found out what we here at Tropical Financial have known for years...when you're a member at TFCU you're Right Where You Belong!

^Amy

Read more about Haftu’s story in the Sun Sentinel

PLAN AHEAD AND BE PREPARED

Prepare, Plan, and Mitigate is the slogan created by FEMA (Federal Emergency Management Agency).  The primary concern for families and businesses that reside in hurricane affected areas is SAFETY.  Being safe means being prepared, ensuring that there is a safe place to ride out the storm, and having a plan for rebuilding after the storm.

Not only do we want to make sure that our families and businesses survive a hurricane, but we also want to make sure that we don’t have to survive a financial storm in the aftermath of hurricane.  Surviving is important, but it is also important to survive and not incur costly repairs that can be easily avoided by being prepared.  FEMA defines MITIGATION as “the effort to reduce loss of life and property by lessening the impact of disasters. Mitigation is taking action now—before the next disaster.”

We all know about checklists.  We see them everywhere – grocery stores, TV news and weather stations, municipal offices, etc.  There are many varieties and some include more than others.  Using a checklist is a way to make sure that you have prepared your home and your family for the Hurricane season.    Dade and Broward County and the state of Florida all have excellent websites with great information on how to plan and prepare to survive a storm. 

• Miami-Dade Hurricane Information
• Broward Hurricane Preparedness Guide
• State of Florida Hurricane Guide

An emergency essentials list will help you make sure that you have everything you need.  In many cases, just being pro-active and checking off items on a list will help reduce your stress level considerably, making it easier for you to focus on your task and your safety. 

Another great preparation tip is to take photos and video of your home, your property, and your valuables.  Store these photos electronically so that you can access them easily after the storm.  By doing this, you will be able to document any claims that you will have to process with your insurance company.  In addition to the photos and video, make a detailed inventory of all your valuables.  Store these safely for easy access after the storm.

Have a plan to safeguard any personal documents such as Birth Certificates, Passports, Marriage Licenses, Driver’s license numbers, Social Security Numbers (for all family members), credit union account numbers.   Place them in a water proof bag (heavy duty zip lock bags work great) and find a safe place for them so that you can retrieve them easily after the storm.  Remember to always safeguard these documents as they contain personal information—not just when preparing for a storm.  Include a list of your family’s physicians and their phone numbers as well as any allergies and medications that your family needs.

A family emergency plan is also a valuable tool for storm survival.  This will allow you to know exactly how to contact everyone in your family.  It will provide the same emergency information to all family members, making it easy to locate shelters and assistance.

Make certain that you and your family understand what the storm warnings mean.  The NOAA, National Weather Service/National Hurricane Center issues Advisories, Watches, and Warnings:

•          Advisory: Official information issued by tropical cyclone warning centers describing all  hurricane watches and warnings in effect along with details concerning locations, intensity and movement, and precautions that should be taken.

•          Hurricane Watch: An announcement that sustained winds of 34 to 63 knots (39 to 73 mph or 63 to 118 km/hr) are possible within the specified area within 48 hours in association with a tropical, subtropical, or post-tropical cyclone

•          Hurricane Warning: An announcement that sustained winds of 34 to 63 knots (39 to 73 mph or 63 to 118 km/hr) are expected somewhere within the specified area within 36 hours in association with a tropical, subtropical, or post-tropical cyclone.

In addition to the warnings, it is important to understand how storms are tracked and how they are rated.    You will hear news advisories refer to storms by a number (1 to 5).  NOAA issues a category number to storms based on the hurricane’s sustained wind speed.

Category	Sustained Winds
1	74-95 mph (119-153 km/h)
2	96-110 mph (154-177 km/h)
3 (major)	111-129 mph (178-208 km/h)
4 (major)	130-156 mph (209-251 km/h)
5 (major)	157 mph or higher (252 km/h or higher)

Names are assigned to storms in alphabetical order.  The names for the 2013 storms are: Andrea, Barry, Chantal, Dorian, Erin, Fernand, Gabrielle, Humberto, Ingrid, Jerry, Karen, Lorenzo, Melissa, Nestor, Olga, Pablo, Rebekah, Sebastien, Tanya, Van, Wendy.

If you PREPARE and PLAN, you will most definitely MITIGATE!  Your checklists and your preparation activities to safeguard your home and valuables will work in your favor after the storm passes.  You will have easy access to all your information, be able to document any damage, and most of all you will know that your family is safe. 

It is inevitable that South Florida will experience some storm activity between June 1 and November 30.  If you can’t change the inevitable, then PREPARE for it and have your PLAN in place to make it easy to survive it all!

^Steve

COOL IT

What is the temperature today?  90, 95, 100!!!  What does it matter, it’s HOT!!

Being born and raised in South Florida, I don’t ever remember it ever being THIS hot, do you? 
In this humidity, bad hair days are a given,  deodorant is a must,  and sundresses and sandals, linen and swimwear are staples for the hot, sunny days of summer.  

But there are things that you should keep in mind when facing the sizzling summer days in South Florida:

• HYDRATE, whatever you do, wherever you go, bring plenty of water if you'll be outside!

• Avoid mid-day heat. The sun is always hottest between 10am - 2pm and if you can stay indoor during those hours your body will thank you. 

• Dress cool. In cool fabric, that is, cottons are always your best friend when the thermometer sees all red.

• Limit exercise. Yeah yeah, we all need it, but if you're gonna go for a jog make sure you do it early in the morning or after the sun starts setting...and make sure you HYDRATE! 
• If you're gonna play - go for water play, we have plenty of water around here, just pick a beach and jump in...just make sure you have lots of sunscreen...oh and HYDRATE with lots of drinking water...the salt water can drain you without keeping your body hydrated!

Some other ideas?  Zoo Miami always has some fun activities for the kids to keep them cool and happy in the summer.   Why not try a discount movie theater where you can catch a flick AND keep cool.  Cruises are always a good idea to get away, and after a mojito or two, who cares how hot it is??

My favorite way to keep cool, is trolling the Mall…with my trusty Tropical Financial Credit Union Visa at hand,  and as amazing as it seems,   I can always find something that I just have to have!  

Keeping cool in South Florida…

 ^Kat

LOCAL AND COMMITTED TO YOU - TFCU

What better way to learn about Tropical Financial Credit Union, than to hear about it from our own CEO, along with a fellow TFCU member!

Share the credit union love, share the video - About Tropical Financial Credit Union!

^Amy

TOO GOOD TO BE TRUE

TFCU Member Jack C. with his new car!

Recently one of our members, Jack C., came to our Plantation office to apply for a new auto loan.  Whenever a member comes in for an auto loan we like to take the time to find out the kind of car they are looking for, the dealership they are going to, whether or not there is a trade in, and what kind of down payment they are looking to make.  This quick assessment helps us find the very best loan to fit their needs and make sure the loan fits into their overall financial picture.  We found out that Jack was not only looking for a specific type of vehicle, but because he had recently been in an car accident, he wanted a vehicle that would also provide a high level of safety.

While Jack continued to search for his vehicle, the TFCU Financial Services Specialist, Janet, continued to stay in touch just to make sure that Jack was secure in the knowledge that we at Tropical Financial were here when he needed us.  Jack had been approved for a loan and was happy with what the credit union offered, knowing that the loan was tailored to meet the payment that Jack could work comfortably into his monthly budget.  Everything was set to go, all that was left was for Jack to go get his new car!

When Jack arrived at the dealer, he found the car he wanted and negotiated the price with the dealer.  Before closing the deal, though, the dealer was aggressive and offered Jack a financing deal that was “too good to be true” - one that sounded like he wouldn’t have to pay any interest for a full 72 months.  When he called to tell Janet that he wouldn’t be financing through the credit union she was disappointed but only wanted the best for the member so congratulated him on his new purchase. 

Whenever we see this type of scenario, it always raises the concern of what the member may be giving up to get that 0% financing that some dealers love to talk about.  We looked at a chart once back in January in terms of how much 0% financing can actually cost you, but it’s so important it bears repeating.  Let’s take a look at that real simple example – you find the perfect car and negotiate the price to be $20,000. There is a manufacturer rebate of $2,500 OR 0% offered AND you qualify (congratulations you must have pretty good credit). You also have a trade-in valued at $1,000 and you even have an extra $500 to put down. For simplicity sake we’ll keep the term the same – 36 months, here’s how it breaks down:

	0% Dealer financing	Credit Union financing
Price of car	$20,000	$20,000
Down payment	$500	$500
Trade-in	$1,000	$1,000
Manufacturer rebate	$0	$2,500
Amount financed	$18,500	$16,000
Number of months in loan	36	36
Loan interest rate	0%	3.00%
Monthly Payment	$514	$465
Total cost	$18,500	$16,751
Total interest paid	$0	$751
SAVINGS	$0	$1,749

 

As you can see the 0% financing actually ends up COSTING you money in the end, so although it may sound tempting, but sure you get all the facts and know what you're giving up to get that deal.

As it turns out in Jack’s case that’s exactly what was happening. He found out that he was misinformed about the details of that “too good to be true” deal, so he came back to the credit union to get the REAL deal.  When he told the dealer what the rate his Credit Union was offering, the dealer didn’t even try to re-negotiate.

Now Jack is driving in the car he wanted with financing from a lender who really cares about him, Tropical Financial Credit Union…and we couldn’t be happier!

^Steve 

HAPPY 4TH OF JULY!

It’s that time again, Red, White and Blue!  We, the proud Americans, gathered together to celebrate the most American of all American holidays – the Fourth of July. 

Our multi-cultured family will gather together in Cocoa Beach, a central point for most of the family.  All of our rooms have been reserved since January, all the relatives are aware and the plans are made. 

Uncle Ray fires up his BBQ grill, hooks up his fishing boat and packs up his dually with all kinds of gear.  Ron Jons is sure to have a fabulous display of fire cracking patriotism off the pier over the Atlantic.

Several of our family members are first generation Americans, and we have grown up hearing about how lucky we were to be born in the greatest country in the world!    With all the sunshine and beaches, our new found relatives from across the pond think we live in HEAVEN, we do too! 

Our pre- teenagers, the youngest girls in our tribe, will be parading around in their bikinis; Patrick will be surfing the waves; Marc frolicking in the ocean and screaming with happiness at the top of his lungs; Tio will have the chimichurri meat marinating since dawn; Uncle Richie and Uncle Raul will be arguing over who made the best  "fill  in the  blank"…Auntie Linda will be serving up her specialty drinks; and Bubbe will be making sure everyone has eaten – enough!    Most of the girls will be hiding under big hats, covered in sunscreen as we prepare for the excitement of the day relaxing on the beach as the firecrackers explode in multi colored displays over the ocean, the little ones shrieking with delight. What a beautiful sight.

We do live in the greatest country in the world, and those of us living in South Florida have the unique opportunity to live amongst and learn about different cultures and learn languages from our neighbors, coworkers and friends.  Invest in your community, your friends, your neighbors and provide yourself and your children an education they cannot get from books.  We are a true melting pot and the Fourth of July provides us a simple reminder. 

Let’s all embrace the opportunities around us, raise your flags and celebrate a safe and united holiday in what we all know as, the greatest country in the world. 

^Kat

FREE YOURSELF!

Freedom means something different to everyone. It could mean something as simple as kicking off your high heels and trading them for some flip flops (one of my favorites), putting the top down on your convertible and hitting the open road, or heading to the shopping mall and having a few extra bucks to splurge.  For many the word “freedom” has a much deeper meaning and is one of the most precious things they have. 

I know this is the time of year I enjoy spending quality time with my family. As a fairly newbie Floridian a lot of my family is still back in Michigan and I still don’t know all the great places to go for the festivities this week.  My oldest daughter is coming down today to spend the week with us so I want to be sure she has a memorable week.  So I’ve done a little research and found a few sites that were really helpful:

• Fireworks – South Florida.com has a really good list of municipal firework celebrations throughout the tri-county area. 
• Events – The Sun Sentinel has a nice listing of events in their Parenting section for activities the whole family can enjoy.
• Rules Regarding Fireworks – Sparklers can be fun, but some people may feel they need to have something more exciting. But before you blow all your hard earned money on that firework stand, you should know the laws regarding what’s allowed in the state of Florida.

Speaking of things to do – if you’re in the market for a new or used car, you might want to put car shopping on your “to do” list.  The dealerships all over town are pulling out the stops to offer some great deals.  Combine that with the Tropical Financial “Freedom Is” deal of up to 90 days before your first loan payment is due – THAT can put some extra cash in your pocket and give you a little freedom this summer (yes that was a shameless plug, but in this case it is SO worth it)! Remember if you see a dealer offering a rebate they might try and convince you to forgo the rebate for special financing, but we already know that can actually COST you money.

Regardless what you decide to do this weekend, everyone here at Tropical Financial Credit Union wishes you a happy and safe 4^th of July holiday…just remember to FREE YOURSELF!

^Amy