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Repayment example: If you borrow $35,000 at 2.59% APR for 66 months, your monthly payment is approximately $570.78. Hurry! Rates valid thru Oct. 31, 2022

Hurricane season for Florida is June 1 to Nov. 30. Before a disaster hits, be prepared. When there is a developing storm, be sure to check our website for service updates and valuable links. Any time of year, you can be proactive in preparing for disasters and assuring you will have access to your EFCU accounts from home or while out of town with these services:

• Set up access to your accounts via Online Banking and the Eglin FCU Mobile App
• Create alerts to help monitor activity on your accounts
• Use CardControls to turn on and off your debit and credit cards, receive alerts, prevent fraud and more
• Have funds deposited directly to your accounts using Direct Deposit
• Schedule internal transfers and payments in Online Banking
• Schedule external transfers and payments in Bill Payer
• Establish a PIN for your MasterCard® to use for cash advances at ATMs
• Use the ATM locator link to find 80,000 CO-OP ATM surcharge-free locations worldwide
• Use the CO-OP Shared Branch locator link to access your EFCU accounts nationwide at other member credit unions
• Sign up for eStatements for easy, secure online access
• Sign up for Loan payments to be paid automatically with PTOF (Periodic transfer of funds)
• Sign up online for First Protector Mortgage payment protection
• Store important documents in a safe deposit box

Check out the EFCU Disaster and Hurricane Resource Center for more information.

There has been an increase in fraud targeting mortgage closing companies and consumers near the closing date of their dream property. Do not to let emotions and the stress surrounding typical closing dates cause you to let your guard down. It is important for consumers to understand how the email phishing scam works.

How the scam works
Real estate companies, title companies and consumer email accounts can be hacked or phished by unauthorized third parties. These unauthorized third parties send fraudulent emails to clients during the late stages of the mortgage closing process. These fraudulent emails can look as though they were truly sent by an employee of the genuine real estate or title companies and include instructions to wire funds to a fraudulent account not controlled by the genuine real estate or title companies. Once wired, the fraudsters will quickly deplete the funds wired to the fraudulent account before anyone realizes they have been scammed.

How consumers can protect themselves
Early in the home closing process, consumers can find out exactly what to expect from wire transferring instructions by speaking directly to the title company, real estate agent and lender. Before wiring funds for closing, consumers should verify bank and account information by speaking to title company representatives in person or by telephone, using a phone number of record instead of any phone number shown in an email. IT IS VERY IMPORTANT THAT YOU CALL YOUR TITLE AGENT USING A KNOWN NUMBER (NOT THE ONE IN AN EMAIL) TO CONFIRM WIRING INSTRUCTIONS FOR YOUR CLOSING!

Once the wire is sent the transaction is final, and it can be impossible to recover the funds. Often times there is no recourse if your Credit Union or bank followed the wire instructions that you provided and authorized. If you are a victim of wire fraud, contact law enforcement immediately and provide as much information as possible. In addition, it is highly recommended that you immediately file a complaint with the Federal Bureau of Investigation Internet Crime Complaint Center (IC3) at https://www.ic3.gov/Home/BEC.

For more information:

• https://www.consumerfinance.gov/about-us/blog/mortgage-closing-scams-how-protect-yourself-and-your-closing-funds/
  
• https://www.ic3.gov/

We are excited about our new Video Tellers. Simply touch the screen to activate the Video Teller and one of our friendly EFCU tellers will greet you to assist you with your transactions. Video Tellers are available during normal drive up hours, please have your photo ID ready. Video Tellers also operate as ATMs 24/7 using your EFCU ATM or Debit card.

Of all the economic problems that arise, inflation is among the most destructive. When prices rise, every dollar earned is worth less, making it even more challenging to make ends meet.

Saving for the future can take a back seat during inflation and even after prices stabilize, putting families behind in their savings goals. A strategy is needed for survival, and here are valuable tips to use starting today:

Put an end to those nuisance fees once and for all
With every dollar worth less, no one can afford to waste them. So now is the time to get rid of those monthly bank service fees, ATM charges and other costs that may be lingering. We encourage you to compare bank fees to services at Eglin Federal Credit Union.

Banish food waste
The only thing worse than spending more at the grocery store is watching those dollars disappear into the trash or down the garbage disposal. With inflation on the rise, it has never been more essential to banish food waste. Embrace those leftovers, freeze the excess or share the bounty with those in need.

Stock up on shelf-stable staples
Even with prices on the rise, there are bargains to be had. When deals pop up, it is time to stock up. Filling the pantry with pasta boxes, jarred sauce and canned vegetables will be good for future finances, so clear some space and start shopping. Look for coupons and grocery store rewards cards.

Experiment with meatless meals
With the price of meat rising faster than other grocery store staple, now could be the time to embrace an inner vegetarian. Maybe a meatless Monday is a way to experiment. Of course, giving up meat entirely isn’t necessary, but eating meatless one or two days a week could make a big difference in the size of monthly grocery bills.

Put off major purchases
If you are contemplating a major purchase, ask if it is something you can live without. If so, putting it off until the worst of the inflation spike is over might result in considerable savings.

Seek out inflation friendly investments
If extra cash is available to save and invest, looking for products that benefit from inflation is smart. From government savings bonds that track the rate of inflation to stocks of companies with rising earnings, these smart money investments could be suitable for the short term and the long term. Consult a financial advisor for the best options

Optimize your fuel economy
The price of gas has been especially problematic of late, and inflation at the pump is surely one of the most painful aspects of rising prices. Looking for ways to maximize fuel economy can have an outsized influence in this environment. Think about the way you drive as well as how many miles are traveled. Are there other, less expensive transportation options available like carpooling? Use apps to find which gas stations are offering the lowest price fuel.

Inflation is nothing new, and rising prices have arisen in decades past. When prices are rising, it is easy to despair, but it is important to realize that spending power can be retained. Solving the Federal Reserve dilemma or controlling the larger economy might not be an option, but the ability to make strategic changes to how you shop, drive, cook and live your daily life still exists. The seven inflation-fighting tips listed above may help make the most of those shrinking dollars.

Every year scammers add new twists to well-known tax-related scams and 2020 is no exception.

Taxpayers should remember that the IRS generally first mails a bill to a taxpayer who owes taxes. There are special circumstances when the IRS will call or come to a home or business.

Click the links below to visit IRS.gov for more tips to help you spot email phishing scams and phone scams and avoid becoming a victim.