Overdraft Fees = Unnecessary

Have any of you ever written a check? Like a real one where you use a pen and write in the amount and who you are paying it to? I probably write one check per month...my rent check. And if I could do it online I would. With all the electronic bill payments, Automatic payments, Debit Cards and Credit Cards, I never actually write anything down. But your check book comes with a very useful tool, a check register. In this handy little booklet you write the balance in your account and then subtract every transaction from the balance and add every deposit. This way, you always know how much is in your account at any given time.

"Why is this important?"

When you use your debit card, the funds do not immediately leave your account. Let's say you have $100 in your account. Tuesday, you go to the movies and spend $25, then go to In-n-Out and spend $20, then you need to put gas in your car so you put $35 in there. On Thursday, you need to get some cash out of the ATM, so you check your balance and it says $45. Cool, you figure you get paid on Saturday and take out $40. What you haven't figured in is that the $25 from the movie theater hasn't cleared your account yet. And on Friday when it comes in it overdraws your account to bring your balance to -$20. And your bank charges you a $27 Overdraft Fee. So, now you are -$47.

These fees add up. And you can get charged for every transaction that you don't have the money to cover. A $5 cup of coffee could potentially cost you $32!

Keep track of the money you spend, how much is in your account, and when transactions clear from your account to avoid paying these fees. Check your account online by using online banking and you can see when the money leaves your account.

Just a friendly tip from your Credit Union!

Check out breakupwithmybank.com

We just launched a new website with information about LA Financial and reasons why people should "break up with their bank" and start a new relationship with LA Financial. Check it out!

May iPod winners!

Congratulations to our iPod winners for the month of May:

Jacqueline and Luis

We randomly draw 2 lucky winners a month. It's not too late to be entered into June's random drawing for an iPod shuffle! Ways you can enter:

• Become a Fan on Facebook
• Comment on our Facebook page
• Comment on any Go Green blog entry (be sure to email green@lafinancial.org so we can contact you)
• Take our Vitamin G quiz
• Or you can write a blog entry by emailing it to green@lafinancial.org.

Earth Day

Hi everyone!
Earth Day is just 2 days away and I'm sure we could all be more environmentally friendly. But sometimes it seems like we have to spend more money to be greener. (buying expensive hybrid cars, installing expensive solar panels, or replacing all our appliances.) Well, here are a few easy to do things we can do to help the environment and save money.

• Take reusable shopping bags to the grocery store (They're easier to carry, plus you can enter a drawing for a $25 gift card at Trader Joe's!)
• Use reusable containers instead of plastic baggies (Saves you money too!)
• Use a reusable water bottle with tap water instead of buying it. (Los Angeles won a gold medal in a tap water taste testing in 2008.)
• Get electronic statements and bills. (Less postage and less paper! Think of all the time saved not shredding documents!)
  

Happy Earth Day everyone! And remember these easy little tips to help save the environment and save you money!

Grand Opening

April 6th- April 10th LA Financial is celebrating the Grand Opening of our Operation HOPE La Brea Branch in Los Angeles. This new branch will offer traditional banking services PLUS financial literacy & home-buying programs, credit counseling and case management services (thru Operaiton HOPE.)

Stop by during the celebration to get one free spin on our "Wheel of Prizes"*.

Prizes include: Clipper tickets, umbreallas, rally monkeys, reuable grocery bags, gift bags and more! AND, receive a FREE gift bag for opening a new product.

*Must be 18 years of older to participate. Limit one free gift bag per member.


Don't miss a surpirse guest appearance by Zach Randolph, LA Clipper player - Thursday, April 9th from 3:00 to 4:00 p.m.

Location:
Los Angeles (La Brea Branch)
Hope Banking Center
3717 S La Brea Ave, Suite 104
Los Angeles CA 90016

Save Some Cash and Save Some Trees.

How many paper statements do you receive in the mail each month? How many bills do you pay by sending in a check? There are fewer and fewer reasons to do either of these things. Receiving estatements and paying your bills electronically is easier, faster, cheaper and safer. Green Accounts offer Free billpay, which saves you money on stamps, envelopes, gas in your car, and time that could be spent on more exciting endeavors! Plus, you don't have to worry about sneaky dumpster divers or mail thieves trying to steal your identity.

But this isn't only about saving some extra change! The same benefits that save you money are also good for the environment. By not using stamps, envelopes, gas in your car, etc, you are also eliminating that waste. Saving yourself some cash saves trees from destruction, extra garbage in landfills, and pollution in the air.

Check out the video and see for yourself. Remember both eStatements and Online BillPay is free. It's good for you and good for the planet.

All You Need is Love this Valentine's Day...

Valentine's Day is coming up on Saturday, have you made plans for your honey? Or maybe you're just going to hang out with your friends and have a good time. Either way, there is no reason to empty your wallets to show how much you care. I've put together a little list of cheap or even FREE things to do around L.A. this Valentine's Day.

1. Take a picnic to a local beach or park. An oldie, but a goodie. Have a sweet picnic out in the open. Or if you want to go at night, you can find a baech that has fire pits (like Huntington Beach) and roast marshmallows by the fire!
   
2. Hiking in the local mountains. There are some lovely hiking trails around L.A. to explore. What could be more romantic than natural scenery? Visit localhikes.com for ideas.
3. Make Dinner at home and rent a movie. You don't even have to rent the movie, check out your local library. And dinner doesn't have to mean expensive ingredients, remember it's about the thought and the presentation.
4. Day at the Getty Museum. Admission to the Getty is free all day and there's a free tram from the parking lot. Parking is $10, but you can also take the Metro Rapid Line 761 and it stops right there on Sepulveda.
5. Griffith Park Observatory. There is free admission to the observatory and the grounds. You can ride bikes, hike, or take a shuttle up there. There is an LADOT route ($0.25) that connects the observatory to the Red Line. And if you want to see one of the shows, it's only $7.00 for ages 13+ or $5.00 with your student ID.
6. Aquarium of the Pacific. The aquarium in Long Beach is right next to Shore Line village and the Queen Mary. On February 14th, the aquarium is extending it's hours to 9:00pm and after 5:00pm everyone gets in for kid's price ($11.95). You can also take the Metro Blue Line out there and walk the 0.8 mile to entrance.
   
7. Hollywood Grauman's Chinese Theatre. Go down to Hollywood and check out the stars. You can go down during the day and grab lunch or just sight-see and be tourists. If you don't want to drive, you can take the Red Line.

Hope everyone has a lovely Valentine's Day with whomever you spend it with!

Did you say, FREE Checking?...

It has come to my attention that I actually know people who pay for their checking accounts. I'm not talking about fancy-dancy checking accounts that earn interest and give you rewards. I'm talking about basic, everyday, deposit-money-and-magically-your-Debit-card-works-when-pay-for-your-Chipotle-burrito Checking accounts.
I'm here to tell you that basic checking accounts are supposed to be free. Yes, FREE. If you are paying $5.95 a month for basic checking services, then you are selling yourself short. If you are paying these outrageous fees, I suggest you do some research. Most of the time, these fees can be waived if you have direct deposit, you have some sort of electronic transfer each month, or you maintain a specified balance.
Look at your statement and see if you're paying a monthly fee. Yes, those letters you get in the mail at the beginning of every month? Open them. Read them. If you see a monthly service charge, call and see if you can change that. (This information is obviously for your non-Green Account friends, because we all know that a Free Checking account from LA Financial has no monthly fee. Ever. That's why we rock.)

$5.95 doesn't sound like much, but that turns into $71.40 per year. I could ski at Big Bear for the day and still have money for lunch. What could you use it for?

Thoughts on my Credit Card...

So many things came up in 2008 that made me realize how much I value my credit card:

• Car Emergency - My car broke down thankfully in a town where I was able to get it fixed.
• Wisdom Teeth Removed - Ouch to my teeth and Ouch to my credit card!
• Season Pass to a Ski Resort - Yes, I didn't need it, but I hope to save money in the long run.
• So many good sales, so many new clothes!
• New laptop computer - I bought it refurbished, so I saved quite a bit of money.
  
• A few more car repairs.
  
• And of course, holiday shopping!

So, you can see that I do not want to cancel my credit card, I have needed it on more than one occasion. But now I have started 2009 with a balance, and I'm sure that I'm not the only one. So, in the spirit of the new year I have some new rules for my credit card:

1. Pay more than the minimum amount due on each bill. This way I can pay off my credit card faster. I plan to pay a set amount every time I get paid so that I don't really miss it out of my paycheck.
   
2. Stop using my credit card for every day purchases. My credit card should only be used for emergency and big ticket items that I don't want to pay in cash. No more spur of the moment shopping with plastic money!
3. Save for the big ticket items! I'm more of a spur of the moment shopper, so I opened a Secondary Savings account specifically for large purchases that might come up. (Like a laptop, or a ski pass, or holiday shopping...)
   
4. Continue to carry my credit card for emergencies. When my car broke down, I was in a small town and was about 2 1/2 hours from home. It's nice to know that if I need the money, I have access to it.

My credit card is a valuable tool, but like anything I just need to use it more responsibly. If I stick to my plan, maybe I'll start 2010 without a balance on my credit card.

Happy New Year!!

Its that time!

Wishing everyone a very safe and happy holiday!

Just remember the holidays are not all about trying to find the perfect gift or buying the most presents but a time to be with family and friends and to remember those who may not be as fortunate as you.