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I Didn’t Agree to This

What to say when your friend sets you up on a surprise blind date… I didn’t agree to this. With Bank of America’s recent decision to eliminate free checking accounts, many consumers are taking a closer look at their banking options. By shifting all eBanking customers over to their Core Checking program, the banking giant quietly saddled those account holders with minimum balance and direct deposit requirements. That means lots of people will now be charged a $12 fee each month. For those who will struggle to meet the new Core Checking requirements, paying an additional $144 per year is unacceptable. Fortunately, it’s also unnecessary. Think local. You go to concerts at twenty-person venues, buy your clothes from boutiques, and drink coffee from closet-sized storefronts. Why? Because you value quality local products and attentive customer service. Apply this logic to your financial management and you’ll realize that the big banks might not be the best option to fit your needs. If you’re one of the millions paying more than you should for a big bank checking account, moving your money to a credit union is a great life choice. Since we’re local, we make decisions based on what’s best for our members and our community—not just our bottom line.  Tell me more. It’s time to switch. Let’s be honest, moving your finances doesn’t sound fun. It sounds like a ton of tedious work and a lot of hand cramps from filling out endless forms. But it’s not all bad, thanks to a combination of in-branch assistance and our Switch Kit, upgrading to a better financial institution has never been...

Plan a Blockbuster Valentine Date on a Budget

Plan a Blockbuster Valentine Date on a Budget  From picking the right card to choosing the perfect flowers to selecting the best chocolates, planning for Valentine’s Day can be daunting. When you get it right, the smile on your Valentine’s face is priceless. If you miss the mark, well, so does Cupid’s arrow. The risk/reward scenario is the stuff romantic comedies are made of. But there’s a big difference between Hollywood hijinks and real life. The difference? Budgets.  Movie Magic vs. Real Life While cinematic screenplays portray extravagant splurges that make audiences swoon, most of us don’t have the unlimited finances required to take a hot air balloon ride over Central Park while a string symphony serenades us from below. So, is it possible to plan a successful Valentine’s date without breaking the bank? Absolutely.  Creating a budget-friendly Valentine’s Day that’s memorable for all the right reasons requires purposeful thought and advanced planning—just like your budget itself. This is not the time to keep up with the proverbial Joneses; don’t waste energy comparing your ideas with anyone else’s. When it comes to making February 14th something special, individuality wins. If you’re looking for a few tips to spark your frugal creativity, we’ve got you covered. 4 Ways to Enjoy Valentine’s Day on a Budget 1. Cook at home. Go out for dessert. Whether you decide to cook dinner for your date or prepare a meal together, staying in lets you plan the menu around your budget and enjoy the experience of crafting your own culinary adventure. After leisurely dining at home, you can venture out for a delicious dessert...

Is This the Year You Keep Your New Year’s Resolution?

Now that 2018 is officially here, many of us are coming to grips with a familiar, frustrating truth: there’s a big difference between making a new year’s resolution and keeping one. The good news is that we’re not alone. It’s estimated that approximately 40% of Americans make resolutions when the New Year rolls around, but only 8% of them are successful in keeping them. Making a resolution only takes a moment of inspiration, keeping it calls for consistent dedication. With the abundance of self-help books, podcasts, and seminars at our disposal, it’s easy to get tossed around on the latest and greatest informational waves. Too often, we jump from one fad to the next, spending substantial energy without moving closer to our end goal. It’s tempting to confuse activity with productivity. That makes it even more important to know the difference between the two. If you want to join the 8% of people who successfully stick to their resolution, you have to work smarter – not harder.   Simplify for Success By limiting the variables in your resolution’s success equation, you can employ principles similar to those that make life hacks so popular. And while mental tricks and efficiency shortcuts aren’t substitutes for perseverance, they can help you avoid overthinking a problem or wasting time on unproductive practices. As you work towards your 2018 resolutions, focusing on the following three aspects of each goal can help simplify your planning and streamline your pursuit.   Psychological When the American Psychological Association weighs in on New Year’s resolutions, it’s a good idea to hear them out. In an article on their...

Power Financial Credit Union Makes Donation

POWER FINANCIAL CREDIT UNION DONATES PERSONAL FINANCE CURRICULUM TO  MIAMI COMMUNITY CHARTER SCHOOL Power Financial Credit Union is donating Ramsey Solutions’ Foundations in Personal Finance curriculum to Miami Community Charter School. Foundations in Personal Finance is the premier curriculum for teaching financial literacy to students.  “We are proud to sponsor the Foundations curriculum and build upon our partnership with our local school,” said CEO Allan Prindle. “Our purpose at Power Financial Credit Union is to guide families to better lives today and for all generations to come.” Personal finance expert Dave Ramsey created Foundations in Personal Finance, an easy to use, turn-key school curriculum that teaches students the value of saving, spending and giving to guide them down the path of financial literacy. More than three million students have taken Foundations in Personal Finance in middle schools, high schools and universities nationwide. Foundations in Personal Finance can be used as a primary or supplemental resource to fulfill requirements in mathematics, economics, family consumer science, business mathematics and personal finance.  For more information on the curriculum, go to daveramsey.com/school. About Ramsey Solutions Ramsey Solutions is committed to helping people regain control of their money, build wealth, grow their leadership skills, and enhance their lives through personal development. The company’s success is defined by the number of people whose lives are changed by a message of hope. Through a variety of mediums including live events, publishing, syndicated columns and a nationally syndicated radio show, Ramsey Solutions uses common sense education to empower people to win at life and money. Millions of families have graduated from Financial Peace University classes across the...

Chairman’s End of Year Statement – We Have Not Forgotten Why We Were Founded.

I would like to wish you a Happy New Year from your Power Financial Credit Union family. As we celebrate new beginnings in 2018, we reflect on the many challenges we have overcome in the past year. Power Financial Credit Union has not forgotten why we were founded. We are people helping people and in tune with 2017 International Credit Union Day’s theme, we know that your “dreams thrive here.” I am proud to say that we have truly helped our member-family this past year. We conducted an in-depth analysis and compared our solutions to those of the top 5 banks in our area, Chase®, Wells Fargo®, SunTrust®, Bank of America® and Citibank®. On average we have saved our members over $9 million! We are excited about this and eager to save our members even more in 2018. Indeed, the more products and services you have with us, the more you will save. It is our fundamental purpose, to guide our member-family to better lives today and for all generations to come. Your dreams thrive here. When Hurricane Irma came, your credit union was ready. We remained open as long as weather allowed for the safety of our staff and member-family. We ensured our ATMs were accessible for anyone needing funds before the storm. We were up and running Tuesday morning after the storm, extending grace periods for late fee charges by an additional fifteen days or as needed on a member-to-member basis. We also waived or refunded overdraft, ATM and shared branching fees for the entire month of September. We are grateful that most of us have been...