WHITING REFINERY Federal Credit Union1339 119th STREET • WHITING, INDIANA 46394 • (219) 659-3254 • www.wrfcu.org • July 2016

How To Raise Financially Savvy KidsToday’s young people are very much in need of some solid financial guidance. While many schools are doing their part to teach financial literacy, the task of fiscally educating our children lies mostly in the hands of America’s parents. Whether your kids are 2, 12, or 20, there are smart ways to shape their financial habits for the future.

If your kiddos are still young, you can train them early on to appreciate the value of money and the benefits of hard work by following some simple tips. If they’re older and perhaps already subscribe to some irresponsible mindsets when it comes to money, there are still ways to modify their behavior and way of thinking - while it may be a bit more challenging, it will be worthwhile in the end.

Here are Three Tips to Make Money-Smart Kids:1. Teach Financial Literacy 101. Kids should be learning from a very early age about the concept of money. Teach them how to save, how to budget, about needs vs wants, and the idea that all products and services, from necessities like food and shelter to luxuries like toys and vacations, cost hard-earned money. Your credit union can help! Many CUs and associated organizations offer youth-oriented financial literacy programs.2. Stress Credit Card Basics. Teach kids about credit including how to properly use a credit card as a credit-building tool and how not to accrue debt. As part of teaching about the responsible use of credit, don’t co-sign on a credit card or any other type of loan. Rather allow your teenager to become a user on your card under your watchful eye. This will help them establish credit and learn about wise spending without affecting your debt-to-income ratio or your credit score. It’s important to have an open dialogue about the risks and benefits of credit card usage since, chances are, your child will one day have one of his or her own.3. Work and Save! Encourage kids to work and save their earnings, even from an early age. Working and earning money for the things you want builds character and establishes good habits. As young children, they can do chores or take on extra small jobs around the house for which they’ll earn money, rather than simply being handed an allowance for existing. These jobs can increase in difficulty and payment amount as your child grows. As your youngster approaches the teen years, he or she can begin babysitting or lawn mowing. And once they’re able to legally work, having a part-time job that doesn’t interfere with school, should be encouraged.

Good luck! Just remember to avoid nurturing and enabling bad habits and to never bail your kids out. It’s better to let them learn from mistakes and have you there waiting to guide them in the right direction.

“LIKE” US ON FACEBOOK The Credit Union now has its very own Facebook Page. Please “Like” us to get up-to-date information about the credit union anytime.

TOKENIZATIONApple Pay, Samsung Pay, Google Pay coming soon. Please watch future correspondence when it becomes available or you can contact the credit union for updates.

Share Secured Loans: Build Your Credit, Keep Your SavingsYou’ve worked hard to build up your savings. You’ve been squirreling away funds for the down payment on a house or a new car or for taking a family vacation. So when life throws you a curve ball - your car needs a major overhaul or you break your leg - it’s a shame to think you will need to raid your share savings account to pay for it. There is another way - and it doesn’t involve putting unexpected expenses on a high-rate credit card or visiting a cash advance store or payday lender. Ask about a Share Secured Loan from the credit union. A Share Secured Loan uses your savings as collateral so it has a lower interest rate than a cash advance on a credit card or an unsecured personal loan. So you can take out the loan, pay it back, and leave your savings intact. A Share Secured Loan is also a good way to boost your credit score if you have a few blemishes on your credit record. Call, click, or stop by the credit union to learn more

Got Credit? It May Be Just Clicks Away With Loans OnlineApplying for a loan from the credit union has never been easier. Use our online loan application if you need funds for a new set of wheels,

medical bills, home repairs, and tuition - almost anything that will help make your life better. “People Helping People” has always been our

credo and now with Loans Online, we may be able to help you anytime and anywhere you have online access. Loans Online puts the credit

union on your schedule, not ours. It’s quick, easy, and secure. So if you need credit for any good reason, visit our website and simply follow

the prompts to complete the loan application. With competitive rates and terms to fit your budget, Loans Online could be just the ticket to

get you the credit you need, when you need it.

Are You Insurance Poor?When it comes to insurance protection, you have a lot in common with Goldilocks - you want it “just right.” You need adequate coverage for yourself, your family, your home, and your belongings - not too little nor too much. Here are some do’s and don’ts to help evaluate your insurance coverage:

1. Do consider life insurance coverage when you have a young family or a spouse dependent on your income or have a large debt burden that would be difficult for your survivors to assume on their own. A life insurance benefit of five to 10 times annual income is generally recommended, depending on how many debts and dependents you have. If you don’t have disability coverage from your employer, consider purchasing it on your own. Disability coverage helps replace the paycheck you and your dependents need for your living expenses.

2. Don’t under-insure your home and its contents. Ask your agent about coverage for replacement value. If you have an older home, you may need ordinance or law coverage to pay for rebuilding your home to current building codes. If you are renting, you are responsible for your belongings, not your landlord.

3. Do comparison shop for health insurance policies during the “open season” period. Don’t assume your current coverage is still best meeting your needs.

4. Don’t overpay for auto insurance. Consider dropping your collision and comprehensive coverage if you drive an older vehicle worth less than $1,000 - or less than 10 times the premium.

5. Do consider an umbrella policy to provide you with general liability coverage to protect your assets in an increasingly litigious world.

30 Year Fixed Rate MortgageYour credit union now offers the most popular

mortgage at a discount. A 30 year fixed rate

mortgage is now being offered at a discount of

0.25% from the rates offered to the general

public by Lake Mortgage. Lake already offers

extremely competitive rates. The benefits of

being a WRFCU member could be worth over

$5,000 for the average home loan. Contact

Peter Vrehas – Ext. 352 at Lake Mortgage

(219-769-5941 or 1-800-627-5566) and be

sure to mention that you are a WRFCU member

for the latest rates!

SIX FLAGS GREAT AMERICA Tickets now on sale for a low discounted price of $44.00 each. That’s a savings of $24.99 per ticket.

DEEP RIVER WATERPARK Tickets now on sale at the Credit Union for $17.95 each. That’s a savings of $7.00 per ticket.

$UMMER DEAL$!!!

Whiting RefineryFederal Credit Union

SERVING OUR MEMBERS SINCE 1935

1339 - 119th Street,Whiting, Indiana 46394

(219)659-3254

HOURS8:15 a.m. to 5:00 p.m. - Monday thru Friday

Payday Friday - Open until 6:00 p.m.

www.wrfcu.org

WHITING REFINERYFEDERAL CREDIT UNION

1339 - 119th StreetWhiting, Indiana 46394

PRSTD STDU.S. POSTAGE

PAIDHammond, IN

Permit #1

25

Holiday ClosingsJuly 4th

FOURTH OF JULYSeptember 5thLABOR DAY

Dividend NewsThe Board of Directors declared to pay .30% APR/.30% APY on all eligible share accounts for the 2ndQuarter of 2016 payable JULY 1, 2016.

Certificate Rates1 Year ($1,000.00 Min) .50% APR/.50% APY 2 Year ($1,000.00 Min) .75% APR/.75% APY3 Year ($1,000.00 Min) 1.00% APR/1.00% APY4 Year ($1,000.00 Min) 1.25% APR/1.26% APY5 Year ($1,000.00 Min) 1.75% APR/1.76% APY

Loan RatesNEW AUTOMOBILES 1.99%* 36 Months 1.99%* 48 Months 1.99%* 60 Months

SIGNATURE LOAN ($10,000 maximum) 7.00%-12.00%* 12 Months 9.00%-14.00%* 48 Months

SHARE PLEDGE LOAN 1.99% 60 Months

EDUCATIONAL LOAN 7.00%-12.00%* 48 Months *Based on Credit Score & Debit Ratio

MORTGAGE LOANSCall Peter Vrehas - Ext 352 at Lake Mortgage for moreinformation or to apply for a loan.219-769-5941 or 1-800-627-5566.