Did you know that as a member of Wasatch Peaks Credit Union, you have many member benefits available to you? From shopping online and earning cash back to saving up to $15 on TurboTax®, being a Wasatch Peaks member really has its perks!
Wasatch Peaks and Powder Mountain are teaming up to bring you discount tickets! Wasatch Peaks members receive 15% off, making night tickets starting at less than $16, and day passes following in an affordable fashion. All you have to do is follow this exclusive link, and enter in the following (Case Sensitive) creditentials:
Club name = WPCU
Password = WPMember
The snow and weather are working in the favor of those of who ski or snowboard, so grab your poles or board and take this long weekend to hit the slopes! Wasatch Peaks wishes you the best of time and thanks you for being a member, right here in Utah.
Wasatch Peaks Credit Union announces its 2017 Annual Meeting. This year we will be offering two movie choices (movie selection subject to change due to availability). Due to limited theatre seats, RSVP is required. You may RSVP for up to 5 people.
Date: Thursday, March 2, 2017
Location: The Junction Megaplex Theatres, 2351 Kiesel Ave, Ogden, UT 84401
Check-In: 5:30 p.m. Due to limited seating, everyone will be required to check-in. Everyone will receive a ticket for a box of popcorn and drink. All Wasatch Peaks primary account holders will receive a ticket for the prize drawing.
Business Meeting: 6:00 p.m.
Prize Drawing: 6:45 p.m. All Wasatch Peaks members are eligible for the Prize Drawing. All children under 12 years old will receive a special prize. You must be present to claim your prize.
Movies: 7:00 p.m. Adults must accompany their children.
Please RSVP for the following two movie options:
Rated PG-13, Running time: 104 minutes, Maximum Seats: 240
When a mercenary warrior (Matt Damon) is imprisoned within the Great Wall, he discovers the mystery behind one of the greatest wonders of the world. As wave after wave of marauding beasts besiege the massive structure, his quest for fortune turns into a journey toward heroism as he joins a huge army of elite warriors to confront the unimaginable and seemingly unstoppable force.
Rated PG, Running time: 90 minutes, Maximum Seats: 584
WThere are big changes brewing in Gotham, but if Batman (Will Arnett) wants to save the city from the Joker's hostile takeover, he may have to drop the lone vigilante thing, try to work with others and maybe, just maybe, learn to lighten up.
There are five (5) candidates running for four (4) seats on the Board of Directors for Wasatch Peaks Credit Union. Voting instructions and ballots will be made available to members 18 years and older beginning on January 25th. Ballots must be recieved by midnight on Friday, February 24, 2017.
Nanette has 22 years of experience working for credit unions. She has worked closely with members, employees, and board members of Wasatch Peaks Credit Union. Her most recent position was the Branch Manager of the Roy Branch.
Nanette graduated from Weber State University in 2007, receiving her Bachelor of Science degree in Accounting. Mrs. Combe is a member of Women in Business through the Ogden/Weber Chamber. She is also a lifetime member of the National Ski Patrol.
Brad has served on the Ogden Government Credit Union, Alliance Credit Union, and now Wasatch Peaks Credit Union Board of Directors since 1994. Mr. Egbert worked for the IRS for 11 years and the United States Postal Service for 26 years where he retired in 2009.
Currently, Brad is self-employed with his own successful tax preparation business. Mr. Egbert is a graduate of Ben Lomond High School and Weber State University. He is married with two children and enjoys golfing and relaxing at his cabin in the Uinta Mountains.
Michael E. Enz—Incumbent
Michael is a Farr West resident and Weber State University graduate with a bachelor’s degree in Telecommunications Management. For 26 years he has worked at McKay-Dee Hospital where he currently manages the phone systems and cabling network for many Intermountain Health Care facilities. He is known as the “Voice of McKay Dee.”
Since 2008, Michael has served on the Board of Directors for SummitOne and Wasatch Peaks. His experience includes serving as Vice Chair and strategic planning on various committees. Mike enjoys spending time with his wife and 4 children, volunteering with the youth of his church, and has a love for the outdoors.
Mr. Ramsey is the current Board Chair on the Wasatch Peaks Board of Directors where he has served for more than 15 years. He has also served on the Supervisory Committee of Alliance Credit Union. Mark is a lifelong resident of Weber County, graduate of Roy High School, and attended Weber State University for three years.
Mr. Ramsey has been employed by the Ogden City Police Department for 30 years and currently serves as an Investigator in the Youth Crimes Unit. Mark is married with two children. He enjoys hunting, fishing, church, and activities with his family.
Gerald R. West—Incumbent
Mr. West served on the SummitOne Credit Union Board since 2004 and currently serves on the Wasatch Peaks Board. Mr. West worked in commercial banking for 22 years and served as president of Weber State Credit Union for 20 years, where he retired in 2003. He served on the boards of the Credit Union League of Utah and Corporate Central Credit Union.
Born and raised in Ogden, Gerald graduated from Weber State College and the American Institute of Banking. Mr. West is married with four children and 15 grandchildren. He enjoys family, traveling, gardening and woodworking.
The New Year is a great time of renewal. That makes it a good time to make bold, decisive changes in your life. Leave behind the baggage that was 2016 and start fresh with a blank slate in 2017. If you’re looking for some resolutions to improve your personal finances, we’re pleased to offer seven ways to make 2017 the year of the dollar!
If you’re looking to take your first steps toward financial literacy, figuring out where your money goes should be at the top of your list. If you don’t know where your money goes, it’s going to be tough to follow through with any other money plans. You may have a general sense of how much you spend, but after a month where you’ve recorded every dollar, you’ll have a much better picture. Using Peaks Money Manager™ can automate the process. You might even find that keeping track of what you do with your money encourages you to spend a little more judiciously.
About 70% of Americans live financially spontaneous lives. They don’t make a plan for spending or saving. When asked why they chose not to do so, the most common response was that the family spent all the money anyway. This is a circular problem. If you don’t have a budget that includes setting aside money for long-term expenses and savings, you’ll end up spending all your money on unplanned things and events. The best way to stop the cycle is to sit down and make a budget that modifies your spending to be more in line with your priorities.
Easier said than done, right? However, there’s no bigger stumbling block to financial security and wealth building than debt. It’s hard to save for long-term goals when so much of your monthly income gets eaten up by interest and fees. There are a variety of methods you can use to help accelerate your payoffs. For instance, you can add an extra $50 or $100 to your credit card payments. Or, you can focus all your payment resources on the highest interest debt until it’s paid off and then move it all to the next highest for snowballing your way to freedom from debt.
The best way to avoid going into debt is to have some money on hand to handle the occasional, yet inevitable, emergency. Most Americans, though, can’t come up with $500 in such instances. Set a specific goal, like adding $10 per month to a savings account. At the end of the year, you’ll have more than $100 available in case something goes wrong.
You can’t save for what you don’t think about. When retirement is years or decades away, it’s difficult to incorporate thinking about it into your daily routine. If you have a retirement account open, you’ll get monthly statements, which serve as reminders. The challenge, though, is taking that first step. Don’t let perfect be the enemy of good. While there are important differences between Roth and Traditional IRA accounts, either one is better than no retirement savings at all. If your job offers a 401(k) matching program, sign up to get at least the full matching funds amount – it’s free money. Do a little bit of research, then open the account that seems like the best idea.
Saving money takes willpower. Because it’s hard to practice self-denial on a constant basis, that extra $5 you’ve earmarked for savings can very easily turn into a mid-morning coffee. Fighting that impulse is a constant struggle. That’s why it’s easiest to avoid the decision altogether. Change your direct deposit to put some of your paycheck directly into a savings account, where you won’t even think of spending it impulsively.
Knowledge is power, and that’s especially true in the world of personal finance. What you know about your money goes a long way toward determining how much of it you get to keep. There’s a lot to learn, but you’ve got a wealth of information at your fingertips. Resolve to read one personal finance article a week. Not only will this give you good ideas for improving your personal financial situation; you’ll also spend more time thinking about your money. That’ll lead to positive results down the line!
Happy New Year from all of us at Wasatch Peaks Credit Union. We hope you have a safe, happy and prosperous 2017!
What resolutions are you making this year? Will 2017 be the year you join a book club, quit smoking or spend more time with your family? Let us know in the comments!
My daughter is learning to play basketball and loves it so much. We went to her game last Saturday. Even the best basketball players miss a lot of shots. Anyone that knows me, knows I believe in budgeting. Even though I love it, my family has plenty of budgeting blunders.
My husband and I met at the beginning of November and planned how we would spend our money this month. We agreed to follow the plan. Some friends invited us to join them for a date night. We didn’t have the money budgeted. I talked to Ty about it, and we decided to pass and planned to have a cheap date instead. We spent the day working outside, and by the end, I really wanted to have a shower. While I was in the shower, a girl came by raising money through selling magazines. Ty has turned down magazine subscriptions before and he often will tell the sales people that he needs to talk to his wife first. He ended up paying $62 for magazine subscriptions, which is about the amount of the date night that we had said no to because we couldn’t afford it.
Why do we sometimes spend money on things that are not important and not urgent? I don’t have an answer. Sometimes we make mistakes and have to pay for them. Ty didn’t know why he did it. At first, I felt upset about this. Then, I realized that I make mistakes, and we can learn from them. We discussed how we would pay for this one, and decided Ty would pay for this with his own spending money since there wasn’t any money for it in the family budget. I joked about how $62 is the most expensive shower I have ever had.
This year we bought an SUV, and the transportation budget category has been a struggle for us. We knew that we would spend more on gasoline for the SUV than we did on the van, but our gasoline expense fluctuates quite a bit based on what we are doing that month. I know people who won’t drive if there isn’t money in their gasoline category, but we will still drive to where we need to go. Even though gas is a variable expense, it seems like a fixed expense. Well, we need to solve this problem. We are going to budget money to the vacation fund so that when we go on our family day adventures, it won’t ruin our budget. We recently took a day trip to Idaho to visit Crater of the Moon and Hagerman Fossil Beds. It wasn’t a full vacation so we didn’t budget for it like we would for a vacation, but the price of driving up there was substantial enough to go over the budgeted amount in gasoline.
Holidays can be budget breaking times of the year. It’s easy to give up and wait until the new year to start again, but remember my family’s budgeting blunders. Budgets require flexibility and the ability to change and adjust.
Wasatch Peaks has some great resources to help with our budgeting blunders like the Christmas Club savings accounts to help save up for Christmas, vacations, and more. At Wasatch Peaks Credit Union, we care about your financial wellness. That’s why Wasatch Peaks partnered with industry-leading BALANCE to provide you with free access to expertly-crafted financial education and resources to help with your financial matters. And should you need, BALANCE can assist with confidential, no-cost financial counseling services to help you develop a sensible budget managing spending and debt. For all your financial life stage changes and more, Wasatch Peaks—in partnership with BALANCE—are here to help. Click here to learn more about the BALANCE Program.
Athletes who are passionate about their sport still miss a lot of shots. They learn from it, and they keep practicing and are successful no matter how many times they miss. Sometimes those mistakes are more valuable than the successes because the pain you experience helps you learn and change. What budgeting blunders have you experienced and what did you learn from them?
Your wallet can become a lot like a junk drawer you carry around. It’s cluttered with loyalty cards, coupons, cash, checks, store credit cards, credit cards for gas, credit cards for everyday purchases and a host of identification cards. That much bulk can make your wallet or purse a serious hassle to carry. Even worse, though, you may be setting yourself up for identity theft.
Even though it’s all packed into one place, if it is stolen, each item has to be accounted for individually. Forget even one and you set up a thief to take your credit for a ride. That’s why it’s a good idea to give your purse or wallet a good once over. Look for things you don’t regularly need and store them in another location for use when you do need them.
There are also things you should never carry in a purse or wallet. If you see these items as you’re trimming down your daily carry, take them out immediately.
There are only a few times when you absolutely need your Social Security card. If you’re starting a new job, opening a new account or applying for some kinds of government benefits, bring the original card. It’s easy enough to stuff the card into your wallet or purse for one of these occasions and then forget about it.
That could be a big mistake. Thieves can use your original Social Security card to apply for all kinds of unsecured debt in your name. Canceling your Social Security number and getting a new one is a complicated, time-consuming process, and you may be liable for the fraud that’s committed before you complete it. Having your Social Security card stolen is one of the worst things that can happen as far as your personal information is concerned. Keep yourself safe, and get the card out of your wallet! Put it in a secure location in your home, like a lockable desk drawer, file cabinet, safety lock box, or Safe Deposit Box at Wasatch Peaks Credit Union.
This is by far the easiest way to accumulate paper in your wallet. Every single purchase generates a tiny slip of paper. Because you never know which might be needed later, you stick them all into your wallet or purse. Before you know it, you’ve got a novel-sized stack of transactions.
This could be serious trouble if your purse or wallet is ever stolen or lost. While regulations prevent retailers from printing more than the last four digits of your credit card number on a receipt, that could be enough for someone to start building a profile of your purchases, especially when used with the rest of your wallet, like your driver’s license. Thieves can use the last four digits of your card number to fish for more information with a merchant who has the card on file, like a cable company or an online retailer. While they may be caught once you report the card stolen, they’ll have all of the time in between to rack up charges.
If you’re in the habit of using receipts to track your purchases, think about going paperless. Use one of the dozens of mobile scanning apps to turn your phone into a digital filebox. This information can be encrypted to keep it out of the hands of malicious people, but still accessible to you if you need to check a purchase or balance your account.
Every store offers its own card and usually offers incentives to use it, too. Whether it’s a purchase discount or cash back, retailers really prefer to keep their credit card processing in-house. If you shop at a few of these stores, those cards can really add up. Tack on an extra couple of cards for gas purchases, everyday expenses, and work-related stuff, and you could easily end up with a wallet or purse chock full of plastic.
If your wallet or purse is stolen, though, each one of those cards has to be canceled individually. Forgetting even one can put you on the hook for hundreds or thousands of dollars of purchases. It’s best to thin your collection down to the one or two you use regularly. Look for those that can be widely used, provide the lowest fees and best acceptance rates. Put the rest of them into a safe place at home, using them only when you need them.
Once you’re down to your top cards, make a list of their numbers and the steps you’d need to take to cancel them if necessary. Put it next to your Social Security card in a safe place. That way, you know exactly what cards to cancel!
My daughter, Jackie, asked me if we can rake leaves at Grandma’s house again because “she really likes to rake leaves and we don’t have any.” My kids rarely complain about not getting to work more. That’s one complaint which surprised me. One of my neighbors told Jackie that pretty soon they will have plenty of leaves for her to rake.
What do the falling leaves mean? The holidays are coming. My kid's Halloween costumes just came in the mail. They love the holidays. They spent a day making Halloween crafts and treats with my mom. Jackie asked me if we are going to make potato soup in pumpkin bread bowls. Then, before I could respond, she replied, “We have to, it’s our tradition.” It’s also a tradition to watch the Nightmare Before Christmas…Christmas!
None of us want to have a real "nightmare before Christmas." We can have an intentional holiday season by planning it out. Some years, my family has done this better than others. Here are a few suggestions that have helped me when I have followed them.
One year, I started looking for gently used toys and found some from my neighbor and some on ksl.com. My kids ended up receiving so much even though I spent so little. My kids are getting older, and my house is full of toys, so I’m searching for backpacking gear. I searched online for the brand of gear that we were considering buying. I found out that they had an outlet sale this past weekend on their gear. My husband was able to buy some gear for 60% off. The only defects were that they were stained. That didn’t bother us. Ty said that our kids would probably stain it the first time they used it anyway. The earlier I plan the gifts, the better deals I can find for them. We have bought camping gear before for Christmas and found that fall isn’t the best time to find camping gear because it’s out of season, but this year we found great deals.
What money are you going to use for holiday spending? How much are you going to spend? I suggest you consider Christmas as a monthly bill and save throughout the year. Wasatch Peaks Credit Union offers the Christmas Club Account that allows you to save up to $300 per month and pays the 1-Year Certificate Rate. Your Christmas Club Account balance is then automatically transfered to your Savings account in October so that you can shop for Christmas! Saving for Christmas has worked great for us in the past, but this year hasn’t been ideal financially. So, yesterday my husband and I talked about what money we would use: emergency fund money (No!), money when our van sells (I like that option but can’t control the timing of the sale), or is there a third alternative. This amount changes for us. Some years, we spend very little and other years we spent a lot. I always feel better when we plan ahead. That way I don’t regret what we spent. Christmas can cost whatever you want it to cost. Plan and decide that so that you don’t overspend. That would be a Christmas nightmare.
My favorite part of the holiday season is the feeling we get by giving. Sometimes, we can’t plan ahead of time how we will serve, but I like to plan on serving. Then, I look for opportunities that year of someone we can serve: a friend who has had a hard year, a neighbor who is grieving, or someone who is sick. Service opportunities come in a lot of different ways. Service is my favorite part of the Christmas season. By planning on serving, I look for ways to do it, and make sure it’s a part of our celebration.
My first 3 suggestions all started out with “Plan.” Planning helps us live purposefully, but sometimes I plan too many things. There are more options during the holiday season than we can possibly do. When I do this, I usually get sick and don’t enjoy my holidays. This year, we are going to evaluate each option and decide if that is important to us and leave some free time.
Planning can help us avoid a holiday nightmare and do those things that will help us enjoy our holiday season. Please comment on what helps you plan for the holidays.
If you’re up to your eyeballs in debt, the one thing you may wish for more than anything else is a blank slate. If you had a chance to wipe your slate clean and start over, things would be different. Of course, barring a winning lottery ticket, nothing is going to make that much of a change overnight. There is, however, another option you can take for getting your debt under control. You can use a personal loan to refinance your existing debt. That means you’ll have one monthly payment at one interest rate instead of the stress caused by a bunch of smaller bills coming due on different days of the month. Of course, this isn’t a solution for everyone. Let’s take a look at the questions you might ask yourself before you take on a debt consolidation loan.
Think long and hard about why you’re in debt. For most people, it was a medical bill, the loss of a job or some other temporary hardship that got them behind with charges they couldn’t completely pay off right away. If that describes your situation, the fact that you have a job or have paid the medical bill means you’ve solved the problem that caused the debt in the first place. If, on the other hand, you accumulated debt by overspending on credit cards, a debt consolidation loan may not be the answer just yet. There are other steps to take first, like making a budget you can stick to, learning how to save and gaining responsibility in your use of credit. Getting a debt consolidation loan without doing those things first is a temporary solution, that might actually make matters worse in the long run. You’ll have room on credit cards again, which can make the impulse to go spend pretty strong. Give in, and you’ll be back in the same position you were before, except now you will have even more debt.
If you’re struggling to make minimum monthly payments on bills, a debt consolidation loan can only do so much. It’s possible that the lower interest rate will make repayment easier, but it’s also possible that bundling all of that debt together could result in a higher monthly payment over a shorter period of time. Before you speak to a loan officer, figure out how much you can afford to put toward getting out of debt. Your loan officer can work backward from there to figure out terms, interest rate and total amount borrowed. If you’re relying on a fluctuating stream of income to repay debt, like a second job or financial windfalls, it may be difficult to commit to a strict repayment plan that’s as aggressive as you like. Instead, what you can afford on a monthly basis may be nothing more than the sum of your current minimum payments. You can still make extra principal payments on a personal loan, so your strategy of making intermittent payments will still help. You just can’t figure them into your monthly payment calculation.
For some people, the biggest chunk of their debt is a student loan. These loans receive fairly generous terms, since a college degree should generally result in a higher-paying job. Debt consolidation for student loans, especially subsidized PLUS loans, may not make a great deal of sense. You’re better off negotiating the repayment structure with your lender if the monthly payments are unrealistic.
On the other hand, if you’re dealing with credit card debt, interest rate is definitely part of the problem. Credit card debt interest regularly runs in the 20% range, more than twice the average rate of personal loans. Refinancing this debt with a personal loan can save you plenty over making minimum credit card payments.
The average American household has nearly $15,000 in credit card debt. That’s a big chunk of change. Add on $28,000 in auto loans, and it’s easy to see why debt is such a problem for most households. The caution with personal loans for debt consolidation is to make sure you can bundle all of that debt together. If you have more than $50,000 in credit card debt, it’s going to be difficult to put together a personal loan that can finance the entire amount. Instead, it’s worth prioritizing the highest interest cards and consolidating those instead of trying to divide your refinancing evenly between accounts. Get the biggest problems out of the way so you can focus your efforts on picking up the pieces.
Debt consolidation doesn’t work for everyone, but it can do wonders for many people. The ability to eliminate high-interest debt and simplify monthly expenses into one payment for debt servicing can change a family’s whole financial picture. The only way to know if a personal loan to consolidate debt is right for you is to sit down with a loan officer to go over your situation. Gather your account statements and your paycheck stubs and head to Wasatch Peaks Credit Union today!
What’s your secret weapon in the battle against debt? Any tips and tricks that helped you get a handle on what you owe? Let us know!
Recently, at a girls night out, I told one of the women about my passion for budgeting. She replied, “I need your class!” Budgeting is a simple process: plan to spend money, and spend by that plan, but it can be hard to do! I’ve been thinking about what she said. If I were to teach my friend a class on budgeting, I would teach her to make budgets simple and predictable — even boring.
Boring means a lot of things, but this meaning of boring is uneventful. It means that there isn’t stress or uncertainty about how your money will be spent. The decision is already made beforehand, and that is nice. In my personal budget, most of my decisions are made for me. I’ve got them on AutoPay, which is boring, predictable, and very simple and easy. However, a couple of months ago, I thought I set up a bill payment for my car insurance, but the payment didn’t go through, and I received a cancellation notice, so I know how it feels to feel panic in my finances. I limit those as much as possible.
Wasatch Peaks Credit Union has several tools to help you do this with automatic transfers, bill pay, etc.
There are always a couple of categories that will make budgeting challenging. For example, in September, my kids passed off the the level of books that they were using in piano lessons. This is awesome! They are progressing, learning, developing, and moving up in their piano levels. Financially, this means that we get to buy more books. On top of the lesson books, my kids wanted to buy music for their recital. Now, this isn’t a huge amount, but it’s enough to wreck the plan — especially if you have it happen in more than one area of life. How did we handle it? Well, I had the money left over from a trip that we didn’t spend. Their teacher had a couple of books they could borrow. Our kids paid for some of the books they wanted.
We had a few other expenses we couldn’t predict that we paid for with “M.E. money” (miscellaneous, everything else). We also have an emergency fund that paid for an unexpected car repair (All of my sensor lights came on in our vehicle). Even though I didn’t enjoy paying that money, it wasn’t a stressful crisis. We had a plan that if we had unexpected car repairs come up, we would use our emergency fund, and we followed the plan.
How about you? Are you ready for whatever this month will bring?