IHMVCU Newsletter – Summer 2014

Your copy of the Summer Newsletter will be arriving in your mailbox this week!

Featured Articles:
Coming Soon: Online Branch Update
Navigating the Mortgage Process Post 2008
CAFCU Merges with IHMVCU
Estate Planning Seminar
Get the Most out of Your Summer

Click here to read the entire newsletter early.

 

Online Branch Article      Mortgage Process Post 2008     Kewanee Merger     Estate Planning Seminar      Summer Advantage

 

 

 

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Know how to balance your checkbook

Pay your loan online!

A staggering 80 percent of American households pay bills and loans online.

Did you know that you can now pay your IHMVCU loans online from checking or savings accounts at ANY financial institution?

With Pay My Loan, you can pay any IHMVCU loan (expect partial mortgage payments) online without any login required. Just hop onto www.ihmvcu.org and click on the Pay My Loan button on the left side of the homepage. Plug in your checking or savings information and voila – loan payment made! You can even set Pay My Loan to make reoccurring payments biweekly, semi-monthly or monthly.

This free service is available to all IHMVCU members to help make paying your loan fast and easy. If your loan is through IH Mississippi Valley Credit Union save yourself time and energy by paying online today!

Click here to begin the process of online loan payments with IHMVCU!

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Enjoy Member Advantage perks this summer

School’s almost out for the summer which means endless opportunities for fun.

Did you know that IHMVCU members can take advantage of great perks to get your summer started off right?

Take the kids out of town for entertainment at Six Flags Great America, Adventureland and the Wisconsin Dells at rates that won’t break the bank. Or, keep your fun here in the Quad Cities with BOGO (buy one, get one free) tickets to the River Bandits all season long where your family can get an IHMVCU fast pass to jump to the front of the line and ride the brand new Ferris Wheel.

Or take advantage of BOGO ticket offers in June for the Operahouse Theatre in DeWitt, Westland 10 Theatre in Burlington or the Discovery Depot in Galesburg.

When summer comes to a close, IHMVCU has you covered for back to school shopping as well! Use your Visa for discounts on your child’s wardrobe at stores like GAP, Target, Kohl’s, Sam’s Club and more.

Whatever your prescription for fun this summer, IHMVCU has the member perks for you!

For all the details, visit https://www.ihmvcu.org/ma or follow us on Facebook.

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Make the smart choice for your student loans

Starting a college education can be a nerve-racking time, especially when it comes to money.

Did you know that IHMVCU offers student loans? Let us help you find the missing puzzle piece when it comes to financing your education.

As an IHMVCU member, you’re getting the competitive rates and lower fees when you choose us. So more of your dollars go toward education, and not financing it!

We even make sure that the loan money is sent directly to your school so you can spend more time studying, and less time worrying.

Once you’ve completed your education we’ll work with you to create a flexible payment plan.

Make the smart choice for you student loans by working with IH Mississippi Valley Credit Union. We can’t wait to say “Congrats, graduate!”

For more information about student loans with IHMVCU, visit https://www.ihmvcu.org/studentloans.

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IHMVCU announces plans to build in Prophetstown

IHMVCU Prophetstown branch rendering

IH Mississippi Valley Credit Union announced plans to build a new branch in Prophetstown, Illinois. The project is supported by both the Prophetstown City Council and Prophetstown Main Street Association.

The 1,500– 2,000-square-foot building, located on Washington Street, will feature a drive-up lane and 24-hour ATM. Construction of the full-service facility will begin this summer and open late 2014/early 2015. A ground-breaking ceremony will be held on July 15 in conjunction with a town-wide memorial to commemorate the first anniversary of the fire.

“We’ve been serving the Prophetstown community for more than 10 years,” says Dennis Hall, president of IH Mississippi Valley Credit Union. “When we learned of the devastating fire on Main Street, we were committed to helping the recovery efforts.”

IH Mississippi Valley Credit Union has 16 locations. It’s the largest credit union in the region and the seventh largest in the state. IHMVCU has nearly $900 million in assets and more than 100,000 members.

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Trying to Figure out how to Pay for College?

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Here are the three things you need to know to help you pay for college.

FAFSA: It’s never too late.
Submitting your FAFSA (free application for federal student aid) at the beginning of the year is always the best idea, but if you didn’t know where you’d be going, or forgot to hit submit, you’re not out of luck. If you live in Iowa or Illinois, the deadline to submit your FAFSA is June 30.

Scholarships: Seriously, it’s never too late.
Yes, a lot of scholarship deadlines may have passed, but there’s still time. Check with your school, local businesses or do a quick internet search. You’ll find plenty of scholarships still available, and maybe even a few you didn’t know you qualified for.

Don’t stop. Your first year of school isn’t the only time to look for scholarships. Continue searching and reapplying the entire time you’re in school. It’s not going to get any cheaper.

Private Student Loans: Be smart.
If you’ve gotten all of the scholarships you can and maxed out your grants and federal student loans, a private student loan can help you bridge the gap between the cost of school and your bank account. But, be smart about your loans—don’t take out more than you really need.

Yes, you may be able to get an extra $5,000 in student loans to cover a new tv or finance your spring break trip, but you’ll have to pay it back eventually.

Student loans from IH Mississippi Valley Credit Union can help you finance the rest of your college education, and keep you from over borrowing. Go to ihmvcu.org/StudentLoans to learn more.

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Spring has Sprung: Get out of the house and head to the home improvement store.

Dream gardenSpring is finally here! If the honey-do-list you’ve been avoiding all winter isn’t full yet, here’s a couple more to add to the list.

Plant your own vegetable garden. Even if you’ve never had a green thumb, all is not lost. Squash, tomatoes and carrots are all easy to grow, and growing them yourself can help you save money at the grocery store. Save yourself the headache, and start with seedling plants instead of seed packets.

Put in a new deck or patio. Enjoy the warm weather and sunshine. Adding a deck or patio isn’t as hard as you may think. There are plenty of tutorials online or in books at your local home improvement store. If your DIY skills aren’t up to par, it may be best to leave it to the professionals.

Give your house a face-lift. Adding curb appeal isn’t always about overhauling your landscaping. Simply putting in a new mailbox, repainting your front door, or pruning the plants you already have can really improve your home’s look.

Reroof your house. Winter may have been rough on your back, but your roof may have taken the brunt of it. If your roof is more than 20 years old, you’re missing shingles, or the ones still up there are curling or buckling, it might be time to consider a new roof. Talk to a reputable contractor for an inspection. They can tell you if you need a new roof or just a few new shingles.

Deciding which project to start, and who’s going to do it aren’t always easy decisions, but finding the money to pay for it is easy. The money just may be under the roof you’re looking to fix.

Get your next project off the ground with IH Mississippi Valley Credit Union. Click here to see if a home equity loan, HELOC or home improvement loan is right for you. Or call us at (309) 793-6200 ext. 89530 to talk to a Financial Services Officer today.

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How to Pick the IRA That’s Right for You.

Get your financial record organized

By opening an IRA, or individual retirement account, you’re preparing yourself for your financial needs down the road. But remember, not all IRAs are created equal. Review the chart below to find the IRA that right for you.

Traditional vs. Roth IRAs

 

Traditional IRA

Roth IRA

Max Contributions

You can contribute up to $17,500 in 2013 & 2014. If you’re 50 or over, you can contribute an additional $5,500 annually.

You can contribute up to $5,500 in 2013 & 2014. If you’re 50 or over, you can contribute an additional $1,000 annually.

Taxes

Your contributions may be tax deductible*
*Consult your tax advisor for deductibility requirements.

Your contributions are not tax deductible. However contributions grow tax free.

Taxation of Withdrawals

Money you take out is subject to Federal and most state income taxes.

Money you take out is not taxed as long as it is a qualified distribution.

Required Distributions

Must start withdrawals before you reach 70 1/2 years old unless you’re still working or you own less than 5% of the IRA.

As long as the owner is still alive, there is no requirement to start withdrawals.

Source: irs.gov/Retirement-Plans/Roth-Comparison Chart

If you have questions or you’re ready to open an IRA, come and talk to us. At IH Mississippi valley Credit Union we can help you find the IRA that’s right for you.

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