Budget Your Spending & Save Now that the magic of the holidays is over, it’s time to come back to reality… your debt. We know how easy it is to go to the store, look at something you like and say, “oh I have enough for this”. Next thing you know, you spent hundreds of dollars and now you are stuck with a large credit card bill. With a new year starting, this is the time to think about how you can reduce your debt and save for the future. Budget A good way to start saving is to create healthy spending habits. We know how tempting it can be to grab the newest release of the iPhone, or a new ..read more

Unmasking Phishing Emails: A Guide to Staying Protected Online. Attention, dear members/friends! In today’s digital world, phishing emails are the modern-day tricksters trying to pull the wool over our eyes. These deceptive messages may appear genuine, but their true aim is to get a hold of our private details. Don’t fret! Let’s explore some simple guidelines to help you identify these imitators and ensure you stay protected online.   Unexpected Emails: If you receive an email, you weren’t expecting or looks suspicious, especially one asking for personal or financial information, be war ..read more

Swipe Smart: Preventing Card Fraud In today’s increasingly digital world, debit and credit cards have become a necessity for managing finances. They have transformed how everyday transactions are conducted and create quick and easy experiences. However, this convenience comes with the responsibility of ensuring the security of your card information. Fraudsters are constantly trying new tactics to exploit victims and steal their hard-earned money. Understanding what to do when your card information is compromised can help safeguard your accounts and funds.   False Promises As we get older ..read more

Rollover Your Retirement Savings Start fresh with your new job, but don’t let your previous retirement savings gather dust. When making a career move, don’t forget to take your retirement savings with you. Rollover your retirement savings from your previous employer to a GCEFCU Premium Market IRA and consolidate your savings into one powerful and easily manageable account. Check out all the advantages below. 5 Reasons to Rollover Your Retirement Savings: 1. Consolidate and Simplify Managing multiple retirement accounts can be a hassle. By consolidating your old retirement account into a new I ..read more

Financial Literacy Resources for Educators April is financial literacy month! We understand educating children on finance is crucial so they can learn how to manage their money properly. We put together a few resources that you can use in the classroom or at home, for your students or children. These resources will allow them to practice their money management skills and much more, no matter what grade level they are in.     Lesson Plans Free Worksheets Games Lesson Plans Lesson Plans: Pre-K – Grade 2: These activities for the very young include simple but important lessons like r ..read more

Understanding Your Mortgage Credit Score It’s always good to have an idea of where your credit score is before making any large purchase that requires a loan. You may notice that the score you see on credit monitoring platforms, such as Credit Karma or SavvyMoney, do not match up with the score your lender pulled during your pre-approval process. The most common questions we get during the credit section of your mortgage application is, “Why is my score lower than what I see?” and “What credit scores do you use for a mortgage?” To answer this, you first have to understand the differences betwe ..read more

YOUR MONEY IS INSURED Learn How Your Money Is Protected With the recent headlines of several bank failures, you may be wondering how safe your own money is. Luckily you are in good hands at GCEFCU, so there is no need to start hiding cash under your mattress. You’re in Good Hands Gulf Coast Educators FCU is ranked in the Top 200 Healthiest Credit Unions by DepositAccounts.com and in the Top 100 Best Performing Credit Unions by S&P Global Market Intelligence. Here, we take extra caution when it comes to ensuring your finances are safe and secure. We value your trust in us and don’t take thi ..read more

Credit Scores: The Basics Who has a credit score? Everyone who has at least one line of credit open under their name. One month after the first line of credit in your name is opened you will get a credit score. What is a credit score? A number from 350-800. The number determines how likely you are to pay back the money you might borrow from the bank. Factors that go into your score: Paying bills on time. Credit usage (10-30% is ideal- if your card has a $10,000 maximum, don’t spend more than $3,000) Amount of credit lines. Age of credit lines and your credit history. Where can you check y ..read more

Building Credit A good credit score can open many doors and lead to great opportunities — but building credit can seem like a mystery at times. It’s not as straightforward as building savings, and the dots you have to connect can be tricky. Here’s a closer look. What Goes Into Your Credit Score 40% is your payment history. (Do you pay bills on time?) 23% is your credit usage or utilization. (How much debt do you have?) 21% is your account age. (A combo of your oldest account, newest account, and their average age. (Longer is better.) 11% is your mix of credit. (Applying for too much credit in ..read more

The Ultimate Tax Preparation Guide If you haven’t filed your taxes yet, here is an easy tax preparation guide to help you get started. 1.Gather Important Documents and Information Some documents like W2s or 1099s are mailed, but you may be able to expedite the process by accessing them online. Here is a checklist of documents and information required to file: Social Security numbers or individual tax identification numbers for you and others listed on your tax return. W-2 and 1099 forms for all sources of income, including investments. Previous year’s tax return paperwork Paperwork supportin ..read more