Looking Out For You

Housing Dilemma

2010-01-27T09:32:00.005-06:00

The tax credit for existing homeowners is great - you can get up to $6,500 if you are a homeowner who puts a contract in by April 30 on another home, provided you close by July 31. Sounds great! But many homeowners are finding that what they can sell their home for barely covers what they owe on their mortgage. So they can't take advantage of the tax credit. At best, it's a great time to be a landlord - a lot of consumers are turning to renting as an alternative.

Some folks have it worse - they can't even break even. Their home won't sell at a high enough price to cover the mortgage. If you aren't having a problem making the payments, that's not a problem. But in the case of a friend of mine who is facing divorce, they may let their home go into foreclosure. Neither of them can afford to keep the home, and they can't sell it. Such a predicament.

What to do? It depends on your situation. Here's an article from our friends at BALANCE that might give you some insight about preventing foreclosure. And Home and Family Finance offers an article on selling your home in a tough economy, if you do decide to sell.

It’s Tax Time Again!

2010-01-13T11:34:00.003-06:00

Last week, right after putting away Christmas decorations, while going through the mail I got my yearly reminder ($10 coupon off Turbo Tax from Costco) that it is tax time again. I can’t believe another year has gone by.

Thankfully, at the beginning of last year I started downloading all of our financial activity into Quicken, so hopefully this year it will be easier to get our stuff organized. At Hawthorne you can download all of your account information from online banking into Quicken. This has really helped me stay organized.

It’s also time to make sure that we make our IRA contributions at Hawthorne. Hawthorne offers a guaranteed rate of return and federal deposit insurance of $250,000 or more per IRA owner. For more information about IRAs at Hawthorne go to our IRA section and check our rates.

To avoid the most common tax mistakes I would recommend reading 11 Common Tax Planning mistakes, on Kiplinger, “Tax planning mistakes can cost you money”. I found a some helpful information in this article. Good luck!

Saving More - My New Year resolution!

2010-01-12T10:35:00.007-06:00

How are you doing keeping up with the New Year’s Resolution’s you made for 2010? I know that I have already given up on a few of mine. I read a great blog post on the blog "The Big Picture" called How to Keep Your New Year Resolutions. (I think that I might need to read this article again).

The only resolution I have been able to keep (this is day 12) is our family commitment to try and save a little bit more money every month. My only saving grace has been that I have an automatic savings plan (my 401K), but this year I want to try and cut more corners to try and save more. I found a great article on MSN that gives some great ways to cut back on things to help increase your savings. It is titled 9 sneaky tips for saving more and gives some great ways to help you build that “cash cushion” and keep the money saved.

You will notice that the article talks about Bank of America's “Keep the Change” and Capital One's “SmartCents” programs. They take money out of your checking account and automatically put it in your savings account. This is a great way to help you save money, but Hawthorne Credit Union has a much better program that actually gives you money back. We give you Cash Back with your Hawthorne Visa Check Card!

There's no catch! Free Checking that pays you Cash Back. It can be better than interest... It's like getting paid for shopping or paying bills. Every time you use your Hawthorne Visa Check Card with your Cash Back Checking account and sign/choose "credit", you'll get 5 cents back at the end of the month. It really adds up!

How Your Credit Score Impacts Your Mortgage Payment

2010-01-07T10:19:00.007-06:00

Check out this chart that demonstrates an example of how your credit score impacts your monthly mortgage payment.

How can you improve your credit score? Here are some tips, from our friends at BALANCE:

1) Obtain copies of your credit report from all three major credit reporting agencies to check for and correct errors.

2) Pay down your debt. If you can't pay the total balance each month, pay more then the minimum required payment.

3) Pay on time, every time

4) Avoid aggressively transferring balances to new cards.

5) Keep your credit card balances well under the maximum available limit.

6) Only apply for the credit you need and close cards you don't use.

7) Repay collection accounts, judgments, and liens.

Read more about credit scores and how to improve your credit score.

TIP: I'm saving $864 this year at my Park District

2010-01-06T10:24:00.004-06:00

I love my park district. I'm saving bundles of money ($864 this year!) and getting more classes. I've had an expensive Boot Camp habit for the past 2 years. I'm grateful for that class because it elevated my fitness level and I learned a lot about weight training. But at $120 per month for my twice-a-week 60-min class at the local health club, it's pretty pricey. I discovered some classes at my local Park District that will accomplish much of what I'm gaining from Boot Camp for a lot less money.

I'm signed up for 2 45-min Cardio Interval classes AND a 60 min Spinning class. The class started on Monday and runs through the end of March. All for the sweet price of $144.

So let's add it up....Boot Camp costs me $360 for 3 months (2xs/week at $15 per class or $1,440 per year). My Park District classes cost me $144 for 3 months (3xs/week at $4 per class or $576 per year).

Gotta love the Park District! Check out your Park District or YMCA today.

TIP: Use surcharge-free ATMs and save big this year

2010-01-04T15:12:00.004-06:00

Use Surcharge-Free ATMs. Banks and other ATM owners charge surcharges to use their ATMs. Add to that your bank’s foreign fee and you could be dinged $5.00+ just to make an ATM withdrawal at an ATM outside of your bank’s network. This can add up to hundreds of dollars in fees a year! But you are in luck! We are a member of Allpoint, America’s largest surcharge-free ATM network AND the Co-Op and STARsf networks, too. This means you have surcharge-free access to over 57,000 ATMs worldwide. And finding one is easy - when you're on the go just point your phone's internet browser to m.ehawthorne.org or find a surcharge-free ATM here.

Better yet....open a Hawthorne Cash Back Checking account. You'll get 6 free PIN transactions each month so you can use almost any ATM plus have access to 57,000 surcharge-free ATMs!

Resolve to Declutter and Simplify in 2010

2010-01-01T09:23:00.002-06:00

Does your New Year Resolution include de-cluttering and simplifying your life? Here are some great tools that we offer to help you do just that when it comes to managing your finances.

eStatements - It's the fastest, easiest way to get your monthly statement. You get your statement 3-4 days earlier by skipping the snail mail and you save a tree too.

Billpayer - Really, if you haven't tried paying your bills online you don't know what you're missing. It streamlines your bill paying process and you'll have more time for other things. Really, just try it. I love it.

Email Notices - This is our new gadget we introduced in 2009. It's a great way to keep up with what's happening with your account. You set up the notices you want to receive, such as when your balance drops to a certain level, or a certain check clears, or when you recieve a deposit (my favorite kind!). If you have email on your phone, you get your notices on the go. This one makes me feel more in control of my money.

Resolve to spend 30 minutes setting up these three tools and you'll be on your way to decluttering and destressing your life! Happy New Year.

Score big with post-holiday sales

2009-12-24T11:08:00.001-06:00

Are you already thinking about what you are going to do this Saturday, the day after Christmas? I know that I am! My mom and I are going to hit the stores for some after holidays shopping. I always stock up on wrapping paper for next year, but this year there may be some extra opportunities for savings. This is a great way to get a head start on savings for the New Year. These great after holiday shopping tips may help.

Beware of Phishing Scam

2009-12-21T14:38:00.002-06:00

One of our members received an email suggesting that their Hawthorne Visa Credit Card may have been compromised. The email is a phishing scam that takes you to a website asking for your personal information. Please remember that we would never ask for your personal information because we already have your information.

One way you can tell if it's a scam is if you hold your mouse over the link you will see where the link goes. If the link looks suspicious, it probably is. We have a company that monitors suspcious activity on our members' Visa accounts. The company's name is Falcon Fraud. If they suspect fraud, the company would warm your account until they could reach you by phone, not email, to verify the transactions.

Please always be on your guard with personal information!

Little Friends Giving Tree 2009

2009-12-11T13:22:00.002-06:00

We did it again! Every year for at least ten years, Hawthorne employees have dug deep into their Holiday budgets and made some room for gifts for developmentally disabled adults and children in the Naperville area. We bought and wrapped gifts and gift cards for the folks on gift tags that were hung on our Holiday Giving Tree. Thanks everyone!

Operation Support Our Troops - We collected 570 pounds of stuff

2009-12-04T09:57:00.000-06:00

Our story about the record collection of 570 pounds of items we donated to Operation Support Our Troops made the Bolingbrook Sun today!

For our troops :: Bolingbrook Sun :: News

Collection for the troops exceeds 570 pounds!

2009-11-18T16:24:00.003-06:00

Last year we were thrilled that we collected 236 pounds of items for Operation Support Our Troops-IL. We collected beef jerky, cans of Pringles, foot powder, mints, hand sanitizer, gum, crackers, etc. The kinds of things that are nice to have when you're overseas serving your country!

This year we topped our goal of 300 pounds - in fact, we almost doubled our goal at 570 pounds collected by staff and members! Plus, through Jeans Day donations, we were able to raise $170 in cash for miscellaneous expenses and to fill in the gaps in donations.

A big THANK YOU to our staff and our members who were so generous this year!

Halloween at Hawthorne

2009-10-30T15:05:00.007-05:00

Happy Halloween...be safe out there trick or treaters! Here are pictures of our staff all decked out. "Velma" won the costume contest! In the first picture (left to right) is our Accounting Dept as Scooby and the Gang. Our Member Service Center and Lending as Alvin and the Chippettes
and our VP of Marketing as the Wicked Witch of the West.

Protect your identity from theft..free shredding next Saturday

2009-10-28T10:48:00.005-05:00

Our last free shredding event takes place next Saturday, Nov 7 10 am to noon at our Bolingbrook branch. Bring up to 2 boxes of paper for shredding. To the right is a chart showing what to keep and what to shred.

We're collecting food for the local food bank in exchange for free shredding. See you there!

Operation Support Our Troops-Illinois...collection going well!!

2009-10-20T09:50:00.003-05:00

We have the most generous members and staff at Hawthorne. Check out the loot we've collected over the past few weeks. These items will be given to the group Operation Support Our Troops-Illinois. They'll be assembling Christmas stockings to send to the troops for the holidays. The items are from the OSOT-IL's "Top Ten" list of desired items in the field. We have lists in our branches, but you can see the list here.

OnYourWay iPod Touch Winner

2009-10-16T14:05:00.006-05:00

Today I had the pleasure of meeting Elizabeth Frederick, a member of Hawthorne and a nursing student at College of Dupage. Elizabeth won an 8GB iPod Touch today just by joining our new site, OnYourWay. It's a place where you can read articles, watch videos and get your finance questions answered. She also started using our new account, Cash Back Checking!

You don't have to be a member of Hawthorne to sign up with OnYourWay and you're still eligible to win. You earn points that increase your chances by applying for services, commenting on a topic or submitting a video of your own. Check it out!

What does the way you organize your money say about you?

2009-10-14T12:15:00.006-05:00

Today, I found an interesting article that discusses how our underlying beliefs about money can be determined simply by the way we handle our money. The experts say that if we keep our money, receipts and change organized that it “speaks volumes about our money personality”.

This made me wonder if my disorganized wallet requires a little bit more attention!

So how do you know what your beliefs are? Think about how you keep your wallet. Click here to read more.

Chilly? Put on a sweater, sweetie!

2009-10-09T12:24:00.005-05:00

Your grandma was right. If you're cold, put on a sweater before you adjust the thermostat. It's a low cost way to warm up and saves you money. As reported on The Daily Green, for every degree you lower the thermostat, you'll save between 1 and 3% of your heating bill. If you put on a light long-sleeved sweater, you'll add about 2 degrees in warmth, while a heavy sweater adds about 4 degrees. So cozy up and don't touch the thermostat.

I always try to make putting on a sweater a habit (slippers too). I also keep cozy blankets in the family room for watching TV. It's amazing how much warmer you can get with an extra layer or two.

Online banking saved the day!

2009-10-08T13:39:00.003-05:00

I was almost overcharged by $500 this week. I hired a repair person to do some work in my home. I'd hired him before, so I had a level of trust with this person. Also, because I'd worked with him in the past I didn't request a quote ahead of time (big mistake). I assumed his fee would be the same as last time, maybe slightly higher for inflation.

His invoice was $500 higher, for the same service. I was in shock. I wrote him a check and went about my day, trying to figure out what went wrong. He had charged me $600 for a cleaning solution. I couldn't dispute it but it just didn't seem right. Certainly not asking for a quote in advance was a big mistake I'll never make again. I wasn't sure what to do.

That night I couldn't sleep. I got up and through online banking, put a stop payment on the check I wrote him. I figured it would give me a chance to find my old receipts, get other quotes and figure out why his invoice was so high. Also, I figured if he can show me proof that his cleaning solution cost $600/gallon, and he can show me documentation that a home my size required a full gallon of solution, then I would pay $800. I had every intention of paying him a fair price, and I contacted him in the morning to tell him his check would not clear to prevent further problems for him. I asked him to fax me a receipt for his cleaning solution and manufacturer's documentation that justified an entire gallon for my home.

Then, I dug out the old receipts. Sure enough, his last invoice for the same exact service, was only $300. He had over charged me by $500. In the days that followed, I never received the proof I requested to justify his charges. So I mailed him a letter and a new check for his services in the amount of the previous invoice plus 10% for inflation. I hope it ends there!

The lesson in this story: beware of scam artists. Times are tough and many people are in dire situations that cause them to take drastic measures - sometimes unethical. Be aware and cautious with your money at all times, but particularly these days. I was grateful for the technology of online banking that night, it saved the day!

Rise of the Frugal Consumer...is that good or bad?

2009-10-07T10:00:00.005-05:00

This WSJ article "Retail and the Rise of the Frugal Consumer" by Paul Vigna, indicates that consumers have begun to spend within their means, finally. The economy is making consumers more frugal...a good thing albeit not good news for retailers. But how many consumers will return to their old habits when the economy gets better. And will it ever return to the boon it once was? Do we really want it to? Many of us developed bad spending habits that are hard to undo. What do you think?

More Appetizers; Jean's Mexi Melts

2009-10-01T13:31:00.001-05:00

Our second place winner in the all-staff Cook Off was Jean's Mexi Melts, which should cost around $21 according to Peapod.com. Enjoy!

Jean's Mexi Melts
2 – 8oz Cream Cheese
1- Pkg Taco Seasoning
1- Small can sliced Black Olives ( can use green olives or both )
½ Small can Green Chiles ( oops! I accidentally used a whole can ) However if you like it extra hot, a full can or more works too!
¼ cup Shredded Mexican Cheese
1 pkg Flour Tortillas (larger ones work best / but smaller size can work too)
1- Jar of Salsa

Drain olives and chilles.
Mix all together. (Except the salsa)

Spread mixture on tortilla.
Roll / tuck ends in
Wrap each roll in plastic wrap
Refrigerate overnight

Slice and serve with your favorite salsa or guacamole / dipping sauce.

More Favorite Appetizers: Emily's Fiesta Dip

2009-10-01T13:24:00.002-05:00

This one won first place in the staff Cook Off! Emily's Fiesta Taco Dip, I priced it at just under $18 according to PeaPod.com.

Emily's Fiesta Taco Dip
16 oz Sour Cream (I used the light Sour Cream, bet you couldn’t even tell)
4 oz chopped black olives
4 oz chopped green chilies
1 packet Hidden Valley Fiesta Ranch Dip
2 cups Shredded Cheese (the taco flavored kind tastes best)

Mix it all up in a bowl and refrigerate for at least 2 hours. Serve with tortilla chips.

Staff's Favorite Appetizer - Buffalo Chicken Dip!

2009-10-01T11:55:00.003-05:00

Yesterday our staff held a Cookoff where a bunch of us brought in appetizers and everyone tasted and voted for their favorite. Below is Todd's Buffalo Chicken Dip. It rocked. Perfect for a football game! I priced it out at about $25 to make this dish, but it's worth it!

Buffalo Chicken Dip
2 large chicken breasts
2 (8 ounce) packages cream cheese, softened
1 cup ranch dressing
approx 3/4 – 1 cup Frank’s red hot sauce (amount to taste)
Tostito corn chips, scoops
Shredded Cheddar cheese (optional)

Directions
1) cook chicken in glass bakeware covered with foil at 350 for 30 minutes.
2) once cooled, finely shred chicken using two forks. (Or you can chop up as well.)
3) mix together cream cheese, shredded chicken, red hot sauce and ranch dressing.
4) Spread mixture into 9 inch square or 9x13 glass bakeware or corningware pan.
5) Bake at 350 degrees for 20-30 minutes or until hot and slightly bubbling
6) Sprinkle cheese on top and bake another 5 mins.
7) Serve hot with Frito scoops

New staff photo. Say Cheese!

2009-09-30T10:28:00.001-05:00

Say cheese! Took a lovely new staff photo this morning in the bright fall sunshine! I blinded our staff...they are such good sports! They'll be seeing stars all day after smiling into the sun. Or are they just that excited about working at Hawthorne? :-)

First Time Home Owners - Don't Miss the Deadline

2009-09-29T15:32:00.012-05:00

Are you lucky enough to be a first time home buyer right now? What a great time to be in that position. First time homebuyers can get an $8,000 tax credit when they purchase a home this year. I wish that my husband and I could take advantage of the great benefits that are being offered to first time home buyers right now. (P.S. this also includes anyone who has not owned a home in the past 3 years!)

The big mistake right now would be sitting back and thinking that you have all the time in the world. Don’t forget that there is a deadline to be eligible for the tax credit and there is no guarantee that, that deadline will be extended! This deadline requires that you close on your new home by November 30, 2009, click here for details.

Check our rates and sign up for a Mortgage Rate Alert email. Finance today quickly and easily with our fast 10-minute online loan application.

TIP: Stay close to home for entertainment

2009-09-28T14:05:00.006-05:00

SAVINGS TIP: Chances are, you've got opportunities for great entertainment every weekend close to home. At your local theater you'll find free parking and no drive to Chicago. The talent is great and tickets run just $15-25. I saw a production of Studs Terkel's "Working" this weekend at the Steel Beam Theatre in Saint Charles. The performers were very talented and the tickets were only $25. Check out the Steel Beam Theater. This intimate 80-seat theater attracts very talented performers. They have a wonderful Children's theater program where they perform children's stories, currently the Adventures of Pinocchio is running. Children's theater is a great way to introduce kids to live theater. Live theater is a different, richer experience than seeing a movie!

New Credit Scoring System Could Give us a Break!

2009-09-24T15:05:00.003-05:00

Finally, something that may actually help us! Have you ever made a little financial blunder that you did not think were very important, but your credit score was negatively impacted by that little mistake? I know that I have.

A long time ago, before cell phones, we used to use phone cards. I had one just in case of emergency. Well, my girl friend's parents did not like her boyfriend and she used to use my calling card to call him. There was a small balance left on the card and it impacted my credit score for years. Not sure why I didn't just pay it off. Young and stupid I guess!

Now those little mistakes may be forgiven. With the new math of FICO 08 credit scoring, those with small blemishes on their credit reports should benefit. With the updated scoring method, the credit scores of those with small miss payments, under $100, will not decline. For more information, click here.

Support Our Troops with Care Package Items!

2009-09-11T09:49:00.006-05:00

We're playing Santa again this year to U.S. soldiers fighting in Iraq and Afghanistan during the holidays with our drive to collect care packages for Operation Support Our Troops of Illinois.

Starting today, September 11, we're collecting items to stuff into Christmas stocking care packages that will be sent to U.S. troops deployed in the Middle East. These care packages include a litany of items not readily available to troops in their deployed locations, such as hand sanitizer and shaving cream, as well as personal letters, cards and notes of support. For a list of items most requested by U.S. troops stationed overseas, visit http://www.osotil.org/christmasstockings.html.

You can bring your donations to our Naperville branch at 1519 N. Naper Boulevard or our Bolingbrook branch at 267 S. Weber Road before October 31. Since its inception in 2003, Operation Support Our Troops Illinois has sent more than 25,000 care packages to U.S. troops in Iraq and Afghanistan.

Last year, our employees and members collected 160 pounds of snacks and gifts, and $140 in cash, which was used to ship the packages to the troops. A Naperville Brownie Troop also wrote letters of encouragement to the troops. Our men and women in the military are working so hard for our country that we want to send items to brighten their day a bit!

TIP: Get better than interest on your checking account

2009-09-08T11:40:00.003-05:00

I love my check card! I got $2.65 for using my Hawthorne Visa Check Card in August. All I had to do is sign for my purchases (I just chose "credit" at the retailers when asked the question "credit or debit?") I use my Check Card for everything - coffee, clothes, gas, groceries, eating out, prescriptions, toiletries, online shopping, etc.

As a result, that $2.65 equates to about 6.24% APY on an average monthly balance of about $500. That's better than what any financial institution is paying in interest right now! It's easy money. Really!

Saving Money at Your Kid's Next Birthday Party

2009-09-01T14:03:00.010-05:00

I can’t believe that my son Zach is going to be 9 on Friday. He is growing up so fast and is getting very tall. I think that within the next couple of years he will be taller than me.

Last weekend we had Zach’s birthday party and I got lucky this year and saved $150 because I was not able to order and inflatable jumpy for the kids. I called six different inflatable rental companies and they were all sold out. Zach has always had a jumpy at his birthday parties, so I was concerned about what they would do this year.

I thought of waters balloons, but it was cold. I also thought of all of those things that we used to do at my birthday parties (a long time ago), kick the can, musical chairs & pin the tail on the donkey, but I did not think that Zach would be very excited about that. So, I end up doing nothing!

We had a lot of people, a lot of food and a very nice day to enjoy each others' company. The adults had a great time and the kids had a great time too, even without a jumpy (I did not hear one complaint!)

I will probably never rent an inflatable again. This made me start to think that sometimes the things we do to make our kids happy are expensive and unnecessary. Most of the time they are completely happy without all of the extras!

More Ways to Save Money on Groceries

2009-09-01T11:58:00.006-05:00

Are you still trying to get the “coupon thing” down during this difficult financial time, when every penny counts? Or, are you still trying to decide if you have the energy or want to spend your time looking for a bargain or cutting coupons?

I recently read a blog By Laura T. Coffey who is a TODAYShow.com contributor, that said “There’s almost always a coupon out there.” During these difficult times it probably does make sense for us to take advantage of them.

Laura’s blog also consisted of 10 tips to be a better coupon sleuth, that might help you. My favorite tip is number 2. Please let us know if these tips help you. Good luck!

1. Remember those nice, old-fashioned coupons in your local paper. Granted, you’re reading this column online, which may mean you’re not a huge print newspaper reader at this stage of your life. But in spite of all the newfangled ways to access coupons and discount codes via the Internet, that doesn’t mean it’s a waste of time to check the coupons in your daily paper. It doesn’t take terribly long to find coupons you can use.

2. Use child labor if you just don’t feel like clipping. Here’s a deal you can cut with your kid: If he or she finds coupons for items you buy as a family and clips enough of them that you manage to save $10 on groceries, you can promise to share $5 of that savings with your child. Then your child can save up that coupon money and use it for something special — including back-to-school items that you may not view as essential but that he or she truly wants.

3. Remain alert for discount opportunities as you shop online. When making purchases, stay on the lookout for areas where you can enter a “promotional code,” “discount code” or “coupon.” If you spot such an option, that means a coupon code almost certainly exists that can help you save on the purchase you’re about to make.

4. Check reputable coupon-code sites. To find a coupon code, you can simply do a quick Internet search for the name of the retailer and the same catchphrase you saw on that retailer’s site. That can lead to frustration in many cases, though, because you’re likely to stumble upon codes that have expired. To hone your search, try CurrentCodes.com and DealHunting.com, where codes are regularly verified and updated.
Other sites that are worth checking include FatWallet.com, CouponChief.com, CouponMountain.com, Rather-Be-Shopping.com, RetailMeNot.com, Offers.com, CouponShack.com and Valpak.com. You’ll likely zero in on a favorite site or two or three that work best for you, depending on your shopping preferences.

5. Seek out free shipping. The best coupons in the world may not be able to offset onerous shipping charges. The sites mentioned in Tip No. 4 can direct you to free shipping deals in some cases. It never hurts to take a few minutes to search around for free shipping before confirming an online purchase.

6. Register with your favorite retailers — but check the privacy policy first. Another way to nab coupons that you’ll be likely to use is to become a returning customer on specific retailers’ Web sites. This typically involves sharing your personal information, and then some pretty good coupons and shipping deals will be e-mailed directly to you. Before signing up, though, check each retailer’s privacy policy first so you can see how your information will be used. Will it be sold to third parties? Will your spending habits be tracked and shared with third parties? If so, can you opt out of this process?

7. Don’t forget to check clearance and sale sections. Visit the Web sites of your favorite retailers and look for online-only sales. Click on any link that says “sale,” “new markdowns” or “final clearance.” It’s not uncommon to spot items that used to cost $100 or more lurking in final clearance sections for $19.99 or even $9.99.

8. Study that final check-out screen carefully. Especially if you’re using a coupon code, be sure the discount has been applied correctly before you commit to your purchase.

9. Look for coupon codes in unexpected places. All sorts of coupon codes may be arriving in your snail-mailbox on a regular basis. You can find them in the catalogs you receive, as well as in your credit card statements.

10. Seek out coupons for out-of-the-ordinary purchases. A number of coupon-code sites are offering discounts on tax services and software, car rentals, auction purchases on eBay.com, restaurant meals and other purchases that at first blush may not seem eligible for coupon codes. Open your mind to the possibilities and look for discounts on everything!

TIP: Save on video rentals at your library

2009-08-31T09:36:00.006-05:00

TIP: Check out videos at your library, save $8-10 each week...or $416-520 per year! If you're a movie fan, you must check out your library. I love the library. This weekend I checked out four movies that I can keep until Sept. 5 - that's seven days. And it cost me nothing!

It would've cost me about $8-10 at Blockbuster. But I didn't spend one dollar, not even a penny. Sure, they don't have the new releases, but there are plenty of movies I haven't seen but have been on my list to see, including, "Along Came Polly" with Jennifer Anniston, "Little Miss Sunshine" with Steve Carrell, and "Tea with Mussolini" with Cher. I also checked out an educational DVD and a bunch of books. While I was there I put holds on 5 books I'd like to read. The library sends me an email when they come in and holds them for me.

Besides not costing anything, I love that if I don't like these movies or the books don't interest me, I just give them back. No risk. No money spent.

A couple days before my items are due, I get an email reminder (I love Email Notices, like the ones we offer!) I can renew items several times without even going to the library - they have online renewal. It doesn't get better than that!

And the Naperville Public Library is giving us another reason to love the library. The month of September is "Show Us Your Library Card" month. At retailers around the town, if you show your library card you get special deals. At Hawthorne, we're giving library cardholders free coin counting. So bring your coin jar this month and Show Us Your Library Card!

TIP: Got students? Teach them how to use credit wisely

2009-08-28T11:57:00.004-05:00

In times of economic downturn, college students are turning to credit cards more than ever before. Although a new law prohibits issuing credit cards to those under 21 without a co-signer or proof of a steady income, much of the damage has already been done. Consider this, according to Sallie Mae's 2009 National Study of Usage Rates and Trends:

* Undergraduates are carrying record-high balances—an average of $3,173. Seniors graduate with an average balance of $4,100;
* Eighty-four percent had at least one credit card, and half the students have four or more;
* Less than one out of five students pay off balances each month;
* Ninety-two percent of students charge textbooks, school supplies, or other education expenses; and
* Food (84%), clothing (70%), and cosmetics (69%) are also frequently bought on credit.

Despite high credit card usage, more than one-third of respondents have never or only rarely discussed credit card use with their parents. These same students were also more likely to charge tuition or be surprised at a high balance.

Parents: You can help. A large majority of those surveyed expressed interest in more financial literacy education. You can provide guidance throughout middle and high school to help better prepare your student to manage money in college.Talk with them about money, and start with the basics. Focus on the importance of saving and responsible spending. Encourage them to use direct deposit for their pay checks—a savings account at Hawthorne can help them get started. If your student does use a credit card, stress the dangers of piling on too much debt. Put the real price tag into perspective--calculate with them how much interest piles on to that new pair of jeans if they do not pay their balances off each month. Also, remind them to keep their credit scores clean by carrying a low balance relative to their available balance, paying all bills on time, and regularly checking accounts for unusual activity. Responsible money management is important at all life stages.

Hawthorne can help. We have several online tools to give college students the basics of financial management and topics that you can use to start the conversation. If you have a middle school or high school student, it's never too early to start. We have a BalanceTrack for teens, too.

Back To School Doesn't Have To Break the Bank

2009-08-27T16:18:00.001-05:00

It’s that time of year again, back to school time. Not only do you have to frantically relearn the morning routine with your kids (wake up, shower, eat, pack, run, bus stop, school—new record of 33 minutes and 27 seconds, well done, Mom!), but you also have to battle crowds to find a long list of expensive and often obscure school supplies…like three-sided pencils for example.

Finding the right school supplies can be challenging by itself, but you also need to be able to purchase these items without breaking the bank. Let’s face it, most kids just toss their school supplies at the end of the school year anyway. So that gives you two options: 1) you brave the crowds on tax-free weekend, and elbow your way through a school supply section that looks like it’s been torn apart by a tornado, or 2) you pay out the nose for new school supplies. Neither option sounds very appealing, but are there any other alternatives? Well, yes, in fact there are.

Most stores will offer massive discounts on their school supplies a few weeks after school starts, and that’s the time to buy. So instead of buying all new supplies for your child before school starts, find out what can be reused for a couple of weeks—perhaps an old note book, last year’s markers and colored pencils, or maybe an old protractor. Then keep an eye out for sales. Some start in the middle of the week, and others begin on the weekends, but by bargain hunting you can find some great deals on school supplies. You can also buy in bulk, and split it with other parents, or save it for future school years. Another option is to shop where you wouldn’t normally expect to find school supplies.

For example, you might find a good deal on back packs at Eddie Bauer, or a two for one deal at Toys R Us. Keep in mind that your kids will probably pressure you for the coolest looking folder or backpack, but that you’ll find much better prices if you go with generic rather than Transformers. Back to school shopping doesn’t have to be a complete disaster for your bank account.

Just remember to keep things in perspective. While your daughter may be upset today because she didn’t get the Hanna Montana pencil case, in the press of the back-to-school frenzy, she won’t be upset for long. Teaching her to shop smart will benefit her more in the long run anyway. Best of luck setting new morning routine records, and in your bargain hunting!

TIP: Turn off your PC, save $90 per year

2009-08-27T13:00:00.004-05:00

In one year, if you shut your computer off before bed each night, you’ll save an average of $90 worth of electricity, according to the Department of Energy and The Daily Green. Go one step further and turn off all the ancillary stuff too, like your printer, monitor, scanner, modem and fax machine, which use electricity even when you're not using them. But rather than having to power down all the gadgets attached to your PC, invest in a Smart Strip Power Strip. This power strip is smart enough to know when you power down the main appliance, it automatically turns off other items that you use with it. It works great with computer set ups and for entertainment centers. You can arrange to have the DVD player, stereo, etc turn off when your television set is turned off. I installed these earlier this year. It's hard to tell how much it's saving me, but it must be saving something because all those appliances were always running before and now they're not!

TIP: Find coupons online

2009-08-20T14:24:00.008-05:00

Money Saving Tip: You can find coupons for sale online for the items you buy every day at MyCouponHunter.com and even on eBay! It saves me time and money.

It really came in handy a few weeks ago when my son Zach and his friend Grace decided to pretend that they were getting ready to go shopping, and cut coupons. I was very impressed and glad to see that maybe Zach would pick up some of my money savings habits. Unfortunately, they made a mess and some of the coupons that I had already cut ended up being thrown away, never to be seen again.

Not really a big deal considering that several of the coupons that I cut don’t end up getting used anyway. The problem was that they lost my best coupon, $4 off of the Intuition Razor blade refills. Ladies if you have not tried the Intuition Razor you are missing out. It is the best thing since sliced bread. Since the blade refills are about $8, the $4 coupon gave me half off.

So, even though I can swing the $8 cost of the razor refills it was killing me that I was not going to be able to get 50% off. I ended up finding the $4 coupon on Ebay, but it was going to cost me $2 to get it. Not the perfect solution, but at least I would still be getting 25% off and shipping was free.

A couple of days ago, I received the coupon in the mail, but instead of getting the one $4 coupon that I ordered, I got 5 of them and a few other miscellaneous coupons. I felt like I had hit the lottery. Okay that’s a bit of an exaggeration, but if I take advantage of all five razor coupons I can get $40 worth of razor blades for $20. That is a huge savings! I think it is time to stock up since the coupon expires on the 31st. For more information visit My Coupon Hunter or just search ebay for the coupon that you are looking for.

TIP: Got staff? Fun for staff doesn't have to cost a bundle

2009-08-18T09:49:00.004-05:00

MONEY SAVING TIP: If you own a business, you don't have to spend a bundle to thank them! It's possible to show your appreciation with a small budget. Last week we said a “Big Thanks” to our employees as part of a year-long monthly effort. We served hot dogs to our staff of 35 last week for less than $55. Like other companies, we have tightened our belts to make it through these challenging financial times. But we figure that doesn’t mean we have to curtail the fun and festivities…especially when it comes to showing staff members just how much they are appreciated!

Last month we had a Pancake Breakfast where we served up heaping stacks of fresh-cooked pancakes and equal helpings of “pats on the backs” to our employees.

These low-cost thank you days were the brain child of our VP of Human Resources, Florence Botbol. “We fed 35 people for under $40 and everyone had a smile on their face,” said Florence. “We're trying to go light on the expense and heavy on the kudos to make sure every one of our staff members knows how much they mean to the success of our member owned, not-for-profit financial institution.”

Other monthly “Thank You Days” coming up including: an Ice Cream Day, a Late Summer Cook-Off, a Halloween Potluck, a Bagels Bonanza, and a Holiday Potluck. “Our wonderful employees go above and beyond to make sure our member/owners are well satisfied and taken care of in these lean financial times, so we want to do the same for them,” Botbol said. “It doesn’t cost much to dish up a heaping helping of thanks!”

$100 bonus isn't really free money with costly fees

2009-08-11T11:38:00.008-05:00

Recently, over dinner and a couple of drinks, my neighbor and her husband got into a friendly heated discussion about her recent experience trying to open a checking account at the new Chase bank that has opened a branch close by. Her husband was focused on the fact that they were offering a $100 bonus just for opening the account and either using the debit card or having direct deposit. Free money, it’s a no brainer, right? Wrong!

Lisa’s (the wife) concern was the incredibly bad experience that she had when trying to open the account. It started out with what she though would be the simple procedure of opening her account online, only to experience problems with the “next button” on the account opening application not working. She even filled out the application on two different computers to make sure that the issue was not related to a computer problem.

Without online success, Lisa called Chase’s online customer support and they were unable to help her. She was told that she would need to open her account over the phone. She was then transferred to another department and left on hold for 15 minutes. After finally getting through to someone and giving her application information, the representative was not able to figure out where to go on the system to add her husband’s information, so that it could be a joint account.

Lisa ended up deciding that it would probably not be worth $100 to open an account at this bank. She figured that this might be a sign of poor customer service in the future. I let her know about the great member service that Hawthorne provides and told her about out new Cash Back Checking, which will be available on August 17th. The new checking account offers a lot of great features including, no minimum opening deposit, no monthly balance requirement, one free NSF “BOUNCE FORGIVENESS”, and a Reward of .05 paid for each signature based transaction. I told Lisa that if she makes 166 transactions per month she could get $100 every year! Plus, the fees she's going to pay at Chase will offset that $100 she'd get. AND the money she'll save with our 677 surcharge free ATMs in Naperville...how many ATMs does Chase have in Naperville? She'll pay a surcharge to use another bank's ATM. So the $100 deal isn't such a great deal after all!

Shred Day was a success!

2009-08-03T11:11:00.002-05:00

Shred Day was a success again! We had approximately 100 people attend. (I think the rain kept a few folks away.) We collected about 2 boxes of food for the Northern Illinois Food Bank and talked to a lot of people about the great deals at Enterprise Car Sales. Next Shred Day is Saturday, Oct. 3 from 10 am to noon at our Naperville branch!

Shred Day August 09

Email Notices another convenience I can't live without!

2009-07-30T15:46:00.004-05:00

Email Notices are here! With email on my mobile phone, I'm getting notified right away about activity on my acount. I have my Email Notices set up to tell me about deposits made to my account, which is really fun because the email I get says "You've Got Money!" I also set up Email Notices for when checks clear. I don't write a lot of checks but when I do, I want to know when they clear. Also, I get an email about any withdrawal over $1000, so that if anything fishy happens I'll know right away.

If you have online banking and a valid email address, you don't have to enroll in Email Notices, just go into online banking and set up your preferences. If you have a checking account but not online banking, what are you waiting for? It's free and it'll allow you to get Email Notices. Sign up at eHawthorne.org.

Shred Day/Food Drive/Car Sale

2009-07-28T17:01:00.004-05:00

Lots going on this Saturday at our Bolingbrook Branch! We are adding a little twist to Shred Days starting with this Saturday, Aug 1 from 10 am to noon. We will be taking a collection of non-perishable food items so that we can accomplish two things – you can protect yourself from identity theft by shredding documents containing personal info AND you can pay it forward by bringing some much-needed food donations for the Northern Illinois Food Bank! We're suggesting one item per box shredded. We'll take cash too! :-) AND you can get a free 32" flat screen TV if you buy a car from Enterprise Used Car Sales and finance it with Hawthorne.

Don't miss it. See you there!

Cash for Clunkers and Enterprise Used Car Sales...two great options

2009-07-28T14:24:00.004-05:00

I've been thinking about a new car. There are two offers I'm thinking about, one of them is the Cash for Clunkers deal that started yesterday. Cash for Clunkers offers up to $4,500 in government incentives for those who trade in an old gas guzzler. But here's the catch: it only works out for you if your trade in vehicle is worth less than the rebate. And unless your vehicle is paid off, it may not work out for you. MSN included a story of a couple who traded in their old truck for a new mini van and it saved them from upcoming maintenance costs. Dealers are expecting big sales from it. Let's hope the financing is made responsibly...so that the desire to sell cars doesn't get folks into loans they can't repay. If you're thinking this deal might work for you, come to Hawthorne. We'll get you pre-approved and ready to go when you walk into the dealer. Read more about Cash For Clunkers and check out Hawthorne's rates.

If Cash for Clunkers doesn't work out for you, check out Enterprise Car Sales. You can get a great no-haggle deal on a terrific used auto from Enterprise. Buy before July 31 and you could get a free 32" TV when you also finance your vehicle through Hawthorne!

Free Flat Screen TVs making members smile!

2009-07-23T12:25:00.005-05:00

The staff has been sharing with me stories about members who've been really happy with their experience of buying a car at Enterprise Used Car Sales. Right now Enterprise is giving away a free 32" flat screen TV when you buy a car and finance it with Hawthorne....nothing like a free TV to make folks smile! But beyond that they're saying how easy and hassle-free their car buying experiences have been. Gotta love that! I'm thinking about trying out Enterprise myself...I'll share my experiences, too. Here's what our staff is hearing:

Hi all,
I just had the pleasure of waiting on a Mr. H when he came in to withdraw a check from his account payable to Enterprise Car Sales. I started asking Mr. H about the recent car purchase (an 08 Chevy Malibu to be exact). He learned of the sale from our email notifications/blasts. He said it was a great experience…knowing that there was not going to any haggling or price bickering. He traded in a vehicle
and got $500 above blue book. He stated that he was letting all of his
friends and family know about Enterprise & stress free experience he
had.
Jennifer C, Branch Manager

Hey there,
I also had a new member came in yesterday that been coming in with a [third party] check. I had been talking to him about the credit union and I also talked to him about Enterprise. He always told me he would be back. Well yesterday he came in and again I talked to him. He had his wife with him and I told him about our services and he did a car loan with Angie and also I told him about our mortgages and he liked the 15 year so hopefully he does that too.

Laura, Teller

Give a fan a whirl and save

2009-07-21T12:08:00.002-05:00

This summer has been unusually cool in Chicago, I was complaining yesterday to a friend on the west coast. I'm craving a trip to the pool and I'm feeling cheated because mid 70s is not pool weather. On the other hand, it's been very nice to have the windows open all summer and not hear the hum of air conditioners outside my window at night. Instead, I've been using a fan in my room. I've grown accustomed to the cool breeze and gentle hum of it. It seems to be helping me sleep. That and the sound of the birds outside my window in the morning...quite pleasant. I wouldn't be enjoying that if the air conditioning was running.

Although, according to this article in The Daily Green, a fan helps cool the air in the room and used with the air conditioner, can be very effective, making the room feel 7-10 degrees cooler! Give a fan a whirl!

The Enterprise cars have arrived!

2009-07-15T16:09:00.004-05:00

Enterprise Car Sales is displaying a car in front of our branches from now until the big Enterprise Used Car Sale which takes place from July 20-31 at several local Enterprise locations. Of course, you can buy a car from Enterprise anytime, but if you finance your auto from Hawthorne during the sale period you'll also get a free 32" TV and a great loan rate, too. Don't miss it - this little baby is priced around $11,000...stop by and see it at our Naperville branch at 1519 N Naper blvd.

Another great Shred Day

2009-07-13T10:08:00.005-05:00

The beautiful weather and desire to safely destroy old documents brought more than 100 people out to shred their documents at Shred Day on Saturday. Many were cleaning out closets and attics and shredding papers going back to the 1960s! It made me think we ought to give out a prize for the person who brings the oldest document for shredding...

Many asked me what is done with the paper. In about 60 seconds, the massive shredder turns the documents safely into confetti. The bits of paper go to a paper mill that turns the bits of paper into pulp that can be turned into new paper. In 2008, Hawthorne saved more than 100 trees with our shredding program.

Our next Shred Day is August 1 from 10 a.m. to noon at the Bolingbrook branch and October 3 from 10 a.m. to nooon at the Naperville branch. See you there!

How to be a Smart Shopper!

2009-07-13T09:38:00.006-05:00

It’s Monday again! Back to work after a weekend spent grocery shopping, cleaning house, and spending quality time with my family. Last night we went to the Cubs game. They lost, but my son Zach had a great time. It was his first Cubs game.

Okay, back to the first part of my weekend. The grocery shopping! It is always a struggle trying to figure out where to shop, how to stick to our budget, and to only buy what we actually need. When I finish shopping I always wonder if I bought too much or could have saved more by going to a different store. Or, would it be better to go to different stores for different items. It is hard to figure it all out.

I guess today is my lucky day, because the first thing I saw this morning when I got online (I have MSN saved as my default home page) was an article titled “How to be a smarter grocery shopper.” The article offers tricks of the trade to help you save money and resist temptation.

Hopefully, this will help me do my shopping a little differently next weekend. I hope it helps you too. Please let me know how it goes. Good luck!

TIP: Save $1400 drinking tap water instead of bottled water

2009-07-09T12:15:00.005-05:00

TIP: Drink tap water instead of bottled water, and save $1,400 annually, according to an article by The Daily Green. A few years ago I installed a water filter in my kitchen sink and we drink from the tap now. It saves a lot of money, and it saves me the hassle of carrying cases of water home from the store. I feel much better about the water we're drinking. Did you know that bottled water is not regulated to the degree that our municipal water is?

If those reasons weren't enough for you, The Daily Green lists these seven reasons to stop using bottled water:

The 7 Sins of Bottled Water
1) Plastic bottles are made from petroleum.
2) The bottles often go into the trash, rather than the recycle bin (in part because many states don't offer five-cent deposits to encourage recycling, as they do on soda and beer cans and bottles).
3) The water is pumped far from where it is sold, creating needless pollution as trucks and barges transport it across the country or around the world.
4) Some local communities have objected to the sale of their water, arguing that the water underground or flowing from natural springs is publicly owned and should not be exploited for profit.
5) Bottled water is rarely as closely monitored as tap water.
6) Tap water in the United States, when provided by a municipal system, is the most highly monitored and safe supply in the world.
7) Some of the water sold in little plastic bottles is tap water, but it costs an awful lot more per gallon.

Silver lining to the economic storm cloud

2009-07-03T09:22:00.004-05:00

Mom always said there is a silver lining in every cloud. While this recession has been far reaching and painful for just about everyone around the globe, there will be some good that comes from it. At home, I'm constantly reviewing every penny I'm spending and re-analyzing whether or not each expense makes sense. We're doing the same at the credit union. The recession has caused everyone to tighten belts at home and at work. We'll be operating more efficiently in the long run. Seems everyone I talk to is wishing they would've done this a few years ago.

Hard times teach lessons. Here's a great article from The Daily Green on "6 Upsides to a Down Economy". One of the benefits he mentions is Americans are saving more and relying on credit less - that will come in handy years down the road. We're also wasting less, driving less and buying smaller homes - that's better for the environment. We're eating better - that's sure to improve our quality of life and reduce medical expenses. He also suggests that locally owned businesses may benefit from the multitude of big-box stores closing left and right. Great points and a positive spin on a painful economy - check it out.

TIP: Save $2 per person to see "Public Enemies"

2009-07-02T11:42:00.006-05:00

TIP: You can save $2 per ticket to AMC Theaters by buying your tickets at Hawthorne branches. Tickets for first run movies, like "Public Enemies" are $10 at AMC Theaters and only $8 at Hawthorne. We also $6.50 tickets for movies that have been out for a couple weeks.

So if your holiday plans include a trip to the theater to catch one of the big summer blockbusters, take a quick trip to Hawthorne first. We'll be open on Friday until 6 PM but closed on Saturday for Independence Day.

"You've Got Money!"...what a great email to get!

2009-07-01T14:48:00.006-05:00

I'm beta testing the credit union's new Email Notice service and it's pretty cool! While hiking in the woods in Natural Bridge State Park in Slade, Kentucky this past weekend, I got an email on my mobile phone with a subject line that said, "You've Got Money!" and the message was about my paycheck that was deposited to my account that day. Cool. Gotta love technology. (Here's a photo of me and my daughter...hiking in the woods when I got the good news!)

Other notices I'll get include a withdrawal of a certain amount, a check that clears, an overdraft :-( ...don't want to get those, but it'll be nice to know ASAP if it happens.

Email Notices will be available to all members mid-July - if you have online banking with a valid email address, you'll automatically have Email Notices, just go in and set up your preferences. If you have a checking account but not online banking, what are you waiting for? It's free and it'll allow you to get Email Notices. Sign up at eHawthorne.org.

TIP: Want Good Cheap Fun? Try Camping

2009-06-30T08:29:00.008-05:00

Last weekend I went camping for the first time in 25 years. We decided on camping because it's so affordable. I certainly had my concerns about rain, bugs, bathrooms, bugs, showers, bugs, snakes. Did I mention bugs?

I wanted to go because my daughter, who turned 13 this year, has never had the experience of sleeping in a tent. I spent many weekends camping with my family as a kid and they're some of the best memories I have. Campfires, hiking in the woods, the stars at night.

The campsite in Slade, Kentucky, was $15 per night including electricity and water. The cost of gas was $100. I bought some camping equipment - $100 for cots (well worth the money and I'll use them for my daughter's sleepovers), and $16 for old pots, pans and utensils at the Goodwill store. The biggest expense was food, but I would've spent money on food if I had been home anyway. I brought the dog along, so I saved on the cost of a kennel.

We had a great time. The hiking was fantastic...the campsite was shady and beautiful with big tall trees and a little creek running behind our tent. We slept to the sound of crickets and trickling water. It was a lot of work, but it was SO relaxing. At night I got up to walk the dog and the sky was amazing...hundreds of big, bright stars in the black sky. Gorgeous. And while I usually feel like summer is passing me by while I look out the window of my office each summer, I feel like I've already had a chance to really enjoy summer, and it's not even the Fourth of July - the half-way mark.

My fears were about the heat and the bugs and the rain. The heat wasn't too bad because we had a shady campsite. Sure, it was hot but we were dressed for it. Yes I had lovely "camping hair" for four days, but who cares? The bugs weren't bad, maybe because we used some bug spray, but not excessively. I came home with more bug bites on my trip to Puerto Vallarta where I stayed in a resort!

It did rain one night. That stunk. That's the thing about camping. You have extremes - moments when you love camping and moments when you're asking yourself why you ever dreamed about such a crazy activity. For me, the good aspects outweighed the bad this trip.

Here's what I spent:
Campsite for 4 nights: $60
Gas roundtrip: $100
Gear: $116 (reusable for next time!)
Food: $150 (I would've spent this at home)
Ice, firewood: $15
TOTAL: $381
REAL COST: $160 (excluding the gear and food)

TIP: Slow down in work zones - save up to $1000!

2009-06-23T09:39:00.002-05:00

TIP: Illinois drivers pay $375 for the first offense of speeding in a work zone and $1000 for the second offense and you'll lose your drivers license for 90 days! Ouch. I didn't realize the fines were that steep in work zones. (Get the details from the Illinois Dept of Transportation.) This summer the IDOT will be using cameras to crack down on speeders. I thought the $75 speeding ticket I got last week was bad...yikes.

In addition to saving yourself from steep speeding tickets, driving slower saves gas, too. According to fueleconcomy.gov, you'll use 5% more gas with every additional 5 MPH that you drive. Fuel economy peaks at 35-55 MPH so slowing down really does use less gas.

Plus, it's safer! You have more time to react to what's happening ahead of you at a slower speed.

Three good reasons to slow down.

VIDEO: Talking to your kids about money

2009-06-18T15:58:00.002-05:00

I try as much as possible to share the finances with my daughter to help her understand some of the decisions I've had to make such as why we cook dinner at home rather than go out to eat as often. It's certainly a balancing act - balancing wise spending but also enjoying life. Or put another way, enjoying more with less or appreciating simple things. Next week we're going on a camping trip with extended family. I'm hoping we'll be able to look back and say how much fun we had - what great memories we gained - spending a fraction of the cost of a traditional hotel/amusement park vacation! What's your best strategy for teaching your kids about money?

This video offers some suggestions and reasons why it's a good idea to engage your kids in the money talk: http://hffo.cuna.org/15562/video/2625/html

TIP: Reduce Gas Consumption on your Road Trip, part 3

2009-06-17T10:39:00.003-05:00

TIP: Next week I'm going on a driving vacation, so this topic is very timely for me. Whether you're going on a driving vacation or just driving to work each day, you can save money using less gas by changing your driving habits, according to The Daily Green. This is Part Three of series on saving money by changing your driving habits.

*Avoid idling. While you're waiting in your car picking up your kid, or waiting for a frieght train to pass by, you're wasting gas. Turn the motor off if you'll be sitting still for more than one minute.

*Check tire pressure. Make sure your tires are inflated to the pressure recommended by the manufacturer (check the sticker on your driver's side door) and use 3-5% less gas.

*Don't tailgate. My pet peeve! Not only is this annoying habit dangerous, it wastes gas with the constant braking and accelerating and contributes to road rage!

*Use cruise control. Sure and steady wins the race, as the saying goes. Apparently it's true. The research team at Edmunds.com research say you can improve your gas mileage by 15% by using a steady speed with cruise control as compared to inconsistent speeds and frequent lane changing.

Hawthorne joins the Relay For Life

2009-06-15T15:15:00.006-05:00

This weekend we formed team HCU4U and walked in the Relay For Life for the 4th consecutive year. We raised money a variety of ways (the total is not in yet!) like Jeans Days where we all paid $5 for the opportunity to wear jeans to work. The management team spread the mulch we needed for the landscaping around our buildings to save money and we donated a portion of the savings to the American Cancer Society. The event took place at Naper Settlement - a nice environment for an event like this. I'm even thinking about staying all night next year! It was amazing to see the survivors and all the people who have been affected by cancer.

Here's a photo of the early Relay group - our second shift came out a little later.

TIP: Reduce Gas Consumption part 2

2009-06-11T11:37:00.008-05:00

TIP: With so many people planning road trip vacations this summer, we're offering some money saving tips for reducing your gas consumption this summer, according to The Daily Green. This is Part Two of our series on saving money by changing your driving habits. You can get better gas mileage just by changing your driving habits. Here are two things you can do to save on gas:

1) Don't put luggage on top of the car. When you pile the luggage on top of your car in your roof-top carrier, you increase the air resistance and thus the gas mileage by 21% in tests conducted by Edmunds.

2) Pack light. Your gas consumption increases for every additional 100 lbs of weight. So lighten up!

Another successful Shred Day!

2009-06-08T17:06:00.002-05:00

Saturday’s Shred It day was a huge success at the Bolingbrook office. It was a busy day, with over 100 people that came out to our event. The members of the Bolingbrook community were in good spirits and were thankful for the service we provided. Many people are already planning for the next Shred Day - Saturday July 11 at the Naperville branch 10 am to noon.

Some of our staff were selling popcorn and candy to raise money for the American Cancer Society's Relay for Life, which we're participating in on Saturday. Thanks to everyone that came out for Shred Day!

-Emily J
Bolingbrook Branch Manager

Hawthorne Credit Union Managers Get Hands Dirty for Charity

2009-06-05T10:13:00.007-05:00

Today the senior managers are taking on a task that would fall under the “other duties as assigned” category on our job descriptions: we’re spreading mulch! We’re reducing our landscaping costs this year by spreading the mulch ourselves and donating a portion of the savings to the American Cancer Society’s Relay For Life, which raises money for cancer research and treatment. The donation will be part of a bigger fundraising effort for the Naperville Relay for Life, which takes place next weekend, June 13 at the Naper Settlement.

We spent last Friday afternoon spreading mulch and doing other landscaping clean up duties at our Naperville branch and this afternoon we’ll be spreading mulch at our Bolingbrook branch. We were lucky enough to have a charitable-minded landscaping company - Waldschmidt & Associates of West Chicago – that was willing to donate the mulch and use of their equipment (valued at approximately $1,000) for the project.

I was surprised when I first heard about the idea, but it was a lot of fun!

Our Generous BillPay Winner

2009-06-04T10:56:00.008-05:00

During these difficult times, if you ever find yourself wondering if there are any good people in this world anymore, then I have a great story for you.

Recently, Hawthorne had an Online BillPayer contest encouraging members to enroll in BillPayer and pay two bills to be entered in a drawing to win a $100 Visa Gift Card. The contest also included members who already use BillPayer.

We randomly selected the lucky winner last week and scheduled a time for her to come to the credit union and pick her gift card. The winner was Stefanie Demkowicz from Bolingbrook.

Stefanie met me in Bolingbrook last Saturday, but not to pick up the $100 gift card. She came into the branch to let me know that she would like to donate the money to Families Helping Families (FHF) in Naperville. FHF is an organization that helps homeless families in DuPage County. FHF adopted families are usually homeless mothers and their children who have been victims of domestic violence or poverty.

I was shocked and touched by this gracious gesture. I am now embarrassed to admit that if I won $100 I would probably be asking my husband and son where they would like to go to dinner!

There are still good people out there and we are lucky enough to have them as members of the credit union. Stefanie also spends time volunteering at the Ronald McDonald House.

We made Stefanie’s donation to FHF and they will be using the gift card to help a mom buy books for school. For details on FHF, click here.

If you're not familiar with online banking and Billpayer, they are electronic services that help us provide convenience as well as increased security to our members. Click here for details.

TIP: Reduce your auto expenses with 20 tips

2009-06-02T15:13:00.002-05:00

TIP: Reduce your auto expenses with these tips from MSN.com. I tend to agree with all of them except the last one about washing your car yourself. I believe that's not good for our local lakes and rivers. As I understand it, car wash facilities reuse their water so it doesn't get flushed into natural water systems. To me, it's worth a few bucks occasionally to wash my car at the gas station. I usually go for the cheap drive through kind - don't get the wax - go for the cheapest wash at about $3 every month or so.

Check out this article!

Make sure to get your credit score at least once a year!

2009-05-28T13:03:00.004-05:00

We always hear about how important it is to run our credit report at least once a year, but it may be something that you put off because you think that it will take a lot of time. I know that is how I feel about it. With everything else going on I just keep putting it off, and it ends up at the bottom of my list of things to do, even though I know how important it is. It has probably been over a year and a half since I have done this, even though I know that I get one free report a year.

Well, last night I finally ran a credit report for myself and my husband and I think it took me less than 15 minutes to get both reports. Can you believe it? It made me feel pretty stupid that I put myself (my credit score, “the most important number”) at risk instead of taking care of something that is so easy to do.

You may be unsure about what credit reporting site is the best to use. You do need to be careful when selecting one because some credit reporting sites are not legitimate and they put your personal information at risk. Hawthorne recommends that our members go to annualcreditreport.com.

Click here for more information about credit reports & credit scores.

TIP: Reduce gas consumption part 1

2009-05-27T15:07:00.005-05:00

TIP: You don't have to change your car to cut your gas bill. You can get better gas mileage just by changing your driving habits, according to The Daily Green. Here are two habits that save a lot . . .and can also reduce the frustration of your fellow drivers on the road!

Avoid jack-rabbit starts and stops. Steady driving increases your fuel efficiency about 66 cents a gallon!

Don't ride the brakes. Driving with one foot on the brake pedal and one foot on the gas pedal costs as much as 35% more gas. Plus, you'll have the added expense of wearing out your brake pads sooner. Drive with just one foot and save 70 cents per gallon.

This post is Part 1 of a series about improving gas mileage by changing your driving habits.

The scoop on those tax credits

2009-05-26T17:14:00.004-05:00

The American Recovery and Reinvestment Act of 2009 included tax credits for homeowners who make energy efficient improvements to their homes. Today I found a website that has all the details about that credit and the tax credit for consumers who buy a hybrid or diesel vehicle.
Check out the Alliance to Save Energy for the details.

TIP: Sweat equity is saving me $3,530 in 2009

2009-05-22T14:13:00.007-05:00

There are a lot of home repairs and maintenance that you can do yourself and save a lot of money with a little sweat equity. Here are a few things I do that are pretty easy and will save me a total of $3,530 by the end of the year:

Lawn care: DIY $980 annual savings - with my light electric mower (no oily engine, no starter, no stinky gasoline!) I mow my own lawn every week. It takes about an hour. I grab my iPod and get some sun and exercise and save the cost of hiring a neighborhood teenager at $35 a week. I save $140 a month and $980 from May-Nov (for leaves). I have a mulching mower that allows the shredded grass to decompose and feed the lawn. I also use my mower to shred the leaves in the fall. I shred about a third and rake the rest. Free mulch!

House cleaning: DIY $2400 annual savings - I hate to clean. But I also hate a dirty house. So I enlist the help of my daughter and in 2-3 hours on a Saturday morning we get it done and then spend the rest of the day relaxing. I save about $200 a month doing it myself as opposed to hiring a service to come every other week.

Clogged drain: DIY $150 savings per occurance - According to Yahoo, to hire a plumber for one hour would cast $50-$75 per hour plus a trip charge and materials. That's steep! I recently unclogged my bathroom drain using a home solution of vinegar, boiling water and baking soda. Pour a half cup of baking soda down the drain followed by a cup of white vinegar. If that doesn't do it, try again but pour a few cups of boiling water after the vinegar. After it's finished bubbling, use a plunger to force the clog out. It worked great and saved me about $100-150.

I really never realized how much money these few things were saving me until I added it up for this blog post! Makes me much happier to cut my own lawn and clean my own house! :-)

You can also save money on home repairs and projects by doing it yourself. The Home Depot offers free classes that shows you how.

TIP: 5 Delicious Meals for Under $10!

2009-05-21T12:48:00.004-05:00

During these difficult financial times I often find myself trying to figure out how to cut cost on groceries and still cook nice dinners for my family. I cut coupons and we shop at Aldi, but I still have trouble figuring out how to prepare a delicious meal for less money and not get any complaints from my husband and son. Sometimes they can be very picky eaters.

Earlier this week on MSN I saw an article titled 5 Delicious Meals for Under $10. So last night I decided to take a look and was surprised to see that the site really has some great ideas. I think that I will give some of the recipes a try this weekend.

The name of the site is delish.com. I thought was a really cute name, because every time my 8 year old son Zach eats something that he likes, he puts his fingers together (like he is Italian) and says delish!

Click here for the exact link to the meals under $10 recipes or just go to delish.com. Good luck with your cooking and let me know if you find a dinner that is really good. I will do the same!

TIP: Great American and Key Lime Cove make great mini vacation

2009-05-15T10:23:00.007-05:00

If a family vacation is out of financially out of reach for you this year, check out the waterpark resorts right here in Illinois. For the price of your room, you get admission to the waterpark. Usually you can use the waterpark from check-in time until the evening of the day you check out. No worries about the weather, either, most are indoors.

One of our accounting staff, Sarah K., visited Key Lime Cove in Gurnee with her family last fall. Here's what she had to say:

"My husband, son, and I went there last November for the grand opening and
had a lot of fun. The rooms were spacious, clean, and having a fridge in
the room is always a plus. One thing I suggest to anyone going there is to
bring light clothing, such as shorts, and short sleeved shirts as it is very
warm in there. While we were eating dinner, a man on stilts came through
the restaurant – that was pretty cool. They also had a live band while we
were eating dinner. It’s an indoor paradise….very well decorated and lots
to do with the arcade and water park. We are planning on going back later
in the year with some extended family."

Pair your Key Lime Cove stay with some discount tickets to Six Flags Great America and you've got a mini-vacation. Hawthorne is selling discounted tickets to Six Flags at a $24 savings off the gate price and $2.50 cheaper than the online ticket price. Key Lime Cove is running a special now through June - get the details.

TIP: Slow down and use 5% less gas

2009-05-14T12:47:00.002-05:00

Gas prices typically go up in the summer, although they shouldn't go higher than $3 a gallon according to an article in The Bolingbrook Sun (remember last year when they topped $4?) The website fueleconomy.gov offers many tips on how to save money on gas, my favorite is slow down (one I struggle with!). We use 5% more gas with every 5 MPH that we drive. I also learned that fuel economy peaks at 35-55 MPH, so slowing down really does use less gas.

Here's where you can find the lowest gas prices in your town.

TIP: Save $24 per person on Six Flags tickets

2009-05-13T13:22:00.002-05:00

TIP: You can save $24 per ticket on adult tickets to Six Flags Great America in Gurnee by stopping in at our Naperville or Bolingbrook branches. We're selling tickets for $32.50 - you'll pay $56.64 at the gate! Plus if you buy them from us in advance, you'll save time because you won't have to stand in line at the gate. (You can also buy and print adult tickets online at $34.99, the same as the price for kids, but our price saves you $2.50 per ticket.)

Make it a weekend and stay over at Key Lime Cove indoor waterpark. They're offering a special discount of buy one-night-get-one-free if you book before May 31.

TIP: Travel bargains to be had now

2009-05-12T09:42:00.005-05:00

A recent CNN article listed 10 bargains to be had now, during the recession. Travel made the list, and I have evidence! I just returned from a vacation to Mexico with a girlfriend where my entire 4-day trip cost $560 at an all inclusive resort in Puerta Vallarta (I'm guessing after the swine flu it might be even cheaper). This particular Apple Vacation included food, drinks, airfare, hotel, transportation and taxes. And the resort was really beautiful, our room was very comfortable. The beach was awesome, and the food and service were great too. And neither of us caught the swine flu!

TIP: NCC theater is a great value

2009-05-11T10:35:00.004-05:00

TIP: If there's a college nearby, check out their performances and sporting events. College events offer great talent at a great price. I saw "Romeo & Juliet" this weekend at North Central College's (NCC) Meiley-Swallow Hall. It was fantastic. The actors were wonderful, as was the direction and sets. Tickets were only $10. Parking in downtown Naperville is free. And I didn't have to drive to Chicago. NCC has several beautiful venues at the Wentz Fine Arts Center, which opened last fall.

This weekend, check out "HONK!" at NCC. (Tickets are $15 for adults.)

Summer Movie Time! Save Money at the Theatre!

2009-05-08T11:38:00.010-05:00

Summer movies have officially arrived with the Wolverine movie last week. Today, Star Trek opens and coming soon are Angels & Demons, Terminator Salvation and the new Night at the Museum movie. I'm planning to see Star Trek today using a movie pass...I'll let you know what I think!

Will you be going to the theatre to see one or all of these? Do you cringe at the cost? $10+ for a movie, plus popcorn, candy and a drink.

Save some money! Little known is that you can get discount movie tickets that are good the FIRST day!! No waiting 2 weeks to see it with a pass.

Stop in at Hawthorne to pick up passes for your Summer movies!

$8 for Gold Passes (good the first day!)

$6.50 for Silver Passes (good after the 2nd weekend)

Join in the water cooler talk by seeing movies the first weekend without paying a huge price!!

$250K Deposit Insurance One Step Closer to Extension (S. 896)

2009-05-07T15:20:00.004-05:00

Your deposits are federally insured to $250,000 per member account, effective through December 31, 2009. Yesterday the Senate approved a bill (S. 896) to extend this insurance level at least through 2013, when the amount would be reviewed and possibly adjusted. Next the bill goes to the House of Representatives. We should know within a few months if the bill becomes law. We believe it will pass the House.

Meanwhile, you should feel confident that your deposits are safe, and that we will keep you informed about the legislation via statements and on our website, here on our blog, on Twitter and by email. If we don't have your email address, send an email to memberservice@ehawthorne.org. If, on the off chance, the bill does not become law, we will contact all members whose deposits exceed the insured amount.

Luxury or Necessity?

2009-05-06T13:21:00.005-05:00

Luxury or Necessity, required or desired, that is the question. With the country in a recession and many of us feeling the pinch we are probably asking ourselves this question a lot more than we used to. I know I am. Do I really need a new car? Or, do we really need to go on vacation or out to eat?

I recently ran across an interesting survey on MSN Money showing the change in the way American’s view some of the basic things that most of us take for, or used to take for granted. Click here to view the results of this survey. You might be surprised to see how our expectations are changing.

Walk to benefit homeless families in Naperville

2009-05-06T11:19:00.005-05:00

According to DuPage County statistics, on any given night in DuPage County there are 129 families with children that have no place to call home. One group is working to help remedy that problem. Families Helping Families provides apartments and volunteer mentors to homeless families in DuPage County while they are working to reclaim their lives through education. Hawthorne Credit Union helps out by offering the families Financial Literacy Training - a series of classes on budgeting, balancing a checkbook, establishing and using credit. We also help out with printing and mailing services for the organization's fund raising efforts.

One special element of the Families Helping Families organization is that they operate on zero dollars. They have NO administrative expenses. So that means that every dollar that is donated is a dollar that helps the homeless!

Vicky Joseph, founder of Families Helping Families, says that a $30 donation pays for one day's rent and utilities for a family.

Join us on Sunday May 17 at the Naperville Riverwalk Pavilion at noon, when a team of Hawthorne staff will walk to raise money for Families Helping Families. The walk begins at 1 PM. For more information and a registration form, click here. I posted some photos of our staff from a previous walk!

TIP: One member saved $1,360/mo with mortgage refinancing

2009-05-05T11:59:00.005-05:00

Here's a story with a happy ending! We helped one of our members refinance his mortgage into a 30 year fixed FHA mortgage at 5.5% and reduced his expenses by $1,360 per month! He paid off $65,000 in debt with a cash out. What would you do with an extra $1,360 per month?

Summer will be a lot more fun for this family!

Check your mortgage rate and contact us. If we can lower your rate by 1-2% you could save a bundle. Check rates and apply online with our easy online mortgage application - it takes about 10 minutes to complete.

TIP: Skip stamps, save $100 and the environment too

2009-05-04T14:59:00.003-05:00

TIP: With postage going up to 44 cents a week from today, now's a great time to "stamp out bill paying by mail". Eliminate postage with Billpayer, and you can save about $100 per year. Plus paying your bills online is gentler to the earth! Here's what you'll save the earth by paying just 5 bills per month electronically:

1.9 pounds of paper
18 gallons of wastewater from discharging into lakes, streams and rivers
2.4 gallons of gasoline
74 pounds of greenhouse gases
1 tree
10 square feet of forest preserved from deforestation

Check out these facts and learn more at PayItGreen.org.

TIP: Ways to Boost your Emergency Fund

2009-05-01T10:58:00.004-05:00

Have you noticed that more than ever you are hearing about the necessity of having an emergency fund? What, an emergency fund? Many of us during these difficult times have found it challenging to have the daily funds to pay all of our bills, let alone an emergency fund.

We all hope that an emergency will never come. We hope that we will always have a job and that we will stay healthy, but eventually reality could rear its ugly head and that emergency fund would come in handy.

With any luck most of us have at least had a chance to get started on creating our emergency fund (even if it is just a small amount of money), the question now is how to take steps to increase that fund.

Everyone seems to be giving tips on this subject lately. Anytime you search the internet or watch the news you are bound to see or hear someone stressing the importance of creating this safety net.

Click here for some great tips from the blog Consumerism Commentary that I have used to help my family increase our emergency fund. I have not been able to implement all of these tips, but some of them have really helped us. Good luck!

TIP: Save on cost of cleaning products

2009-04-30T13:28:00.003-05:00

I've tried natural cleaning methods like using vinegar and baking soda. These are really inexpensive, ordinary household items that work pretty well. (However I must admit I miss the pretty scents that commercial cleaners offer. I haven't tried adding lemon oil to the mix, that would help.)

They work really well. In fact I recently unclogged a drain with boiling water, vinegar and baking soda and a little elbow grease with a plunger. I saved myself the cost of Draino and saved the environment the cost too. And it worked great!

The Daily Green offers a bunch of unusual uses for vinegar, ketchup and vodka.

TIP: Cut water use by 50-70%

2009-04-29T12:17:00.003-05:00

The Daily Green suggests you can save on water with a low-flow showerhead and can reduce your water consumption by 50 to 70%. According to the article, the showerheads are easy to install and only cost around $8. The article also says that you won't give up much on water pressure. At $8 it sounds like an idea that's worth giving a try!

TIP: Tips for family fun under $10

2009-04-23T11:32:00.001-05:00

This article posted in the Chicago Tribune today offers some great tips for family fun this summer for under $10: http://tr.im/jwzG What ideas would you add?

TIP: Got teens? Save money on prom.

2009-04-21T12:21:00.003-05:00

Got teenagers? Save money this prom season without putting a damper on your kids' fun. Prom can be pricey with the dresses, tuxedos, pictures, flowers, limos, hair/nails and dinner . On average, dinner can cost anywhere from $25-30 per person and that’s not even including tip and tax. The last couple of years, instead of our teenagers going out to dinner, we decided to host the dinner at home. Each family has taken a turn preparing and serving dinner to the teenagers. This year, my husband and I were able to serve a nice filet dinner for about $8.00 per person. This is a savings of about $20 per person! We set the dining room table just like a restaurant and the moms and dads served them. This is also a great opportunity for parents to get together and have some food and fun too!

TIP: Free Movies

2009-04-21T09:37:00.003-05:00

This week I borrowed "Gone With the Wind" from the Saint Charles Public Library. My 13-year-old daughter hadn't seen it. The only reason she knew of it was the Great Movie Ride at Walt Disney World. She is now on a quest to see all the movies in the Great Movie Ride, but the classics are hard to find at Blockbuster; they tend to carry more current stuff.

But, I found "Gone With the Wind" at the library - so I borrowed it for FREE (!) and I got to keep it for a week. I just renewed it for another week. (It's 3 hours long! So it's taking us a couple days to get through it.) It's a great movie - I forgot how rich the characters are.

So check out the library - it's a great way to save money on books, music and movies.

Medical insurance for my dog - is it worth the money?

2009-04-15T13:21:00.006-05:00

Poor sick puppy. My dog ate one of those giant Hershey's kisses this week in a little post-Easter binge. He's only 17 pounds and I didn't discover his little indiscretion until it was too late to induce it out of him. So this afternoon I spent half a day in the vet's office and $391 later for x-rays and blood work, he seems to be feeling better. Fortunately, he didn't eat a toxic amount and didn't get any foil lodged in his belly. I hope he learned his lesson, but I know I learned mine. From now his vice stays up high, safely in the cabinet.

Meanwhile, it makes me think about medical insurance for dogs. Looking at a quick quote online, it appears that a mid-range insurance policy would run around $14 ($168 per year) for my 2 year old Bichon. I'd have to look into how comprehensive the coverage is; if it doesn't cover the ailment he gets then I've wasted my money.

As a relatively new dog owner (this little chocoholic is my first pet!) I'm wondering if medical insurance is worth is. Anyone willing to share their experience?

Grand ReOpening Day at Alcatel-Lucent branch

2009-04-14T14:22:00.006-05:00

Today we're celebrating the Grand Re-Opening of our branch in the Indian Hill building at Lucent. We made some changes to the interior, so we thought it was a good excuse to serve punch and cookies to our friends at Alcatel-Lucent! After all, our relationship with Alcatel-Lucent goes way back to our founding days at Western Electric's Hawthorne Works Plant in Cicero. The Hawthorne Works plant manufactured telephones and telephone wires and a group of Western Electric employees started the credit union in 1935 by pooling their money to save with each other and make small loans to each other during the Great Depression.

To make a long story short...years later after the plant closed, a portion of the business was sold to another phone company and it moved out to Naperville. Hawthorne Credit Union moved with it.

Can you save by refinancing now?

2009-04-13T12:16:00.003-05:00

Do you know your mortgage rate? Rates have been at record lows lately, so chances are you could save money on your monthly payments by refinancing your mortgage. Check out our calculator that can help you decide. Apply online and save about $300 on closing costs. Questions? Contact Senior Loan Officer Christine Roehrig at croehrig@ehawthorne.org or at 630-983-2335.

TIP: Save $63 per year with BillPayer

2009-04-07T12:59:00.004-05:00

TIP: Switch from paper checks to BillPayer and save about $63 per year. Let's say you pay 10 bills each month, you'll be paying $4.40 per month when the price of first class postage goes up May 11. That means you could save $52.80 per year if you use free online BillPayer. (I can't imagine why you wouldn't use BillPayer, I can't imagine life before BillPayer. It takes me a fraction of the time to pay bills with BillPayer than it did in the days of writing checks.)

Plus if you figure in the cost of checks and you save more. If a box of 150 checks costs $10, then it costs about 6 cents per check. You'll go through about 1 box of checks each year just paying bills. Add $10 savings to your $52.80. (Just use your Visa Check Card and forget checks altogether!)

You're also saving paper, which is good for the environment. Add electronic statements and eBill to your bill paying routine and you're saving even more paper. The Daily Green suggests BillPay as a great way to save money, energy and paper.

All you need to sign up for BillPayer is a Hawthorne Checking Account and online banking. Then, just pay at least one bill per month and BillPayer is free.

Raising Your Credit Score: A follow up

2009-04-03T12:08:00.004-05:00

As a follow up to yesterday's post about improving your credit score. The comment below is from Gary Loechle, Vice President of Commercial Services for Hawthorne. Gary will soon be retiring from Hawthorne after a successful career in banking that included many years as Vice President of Lending at Hawthorne and other financial institutions in our area. Gary had this to say:

"Sandy, Interested in another point of view?

Your two tips are correct. Prompt payments and low balances.

However, in this time of uncertainty, I would have to think long and hard before advising friends to drain savings to pay off a credit card.
Traditionally, the credit score is adversely affected when the balances owing on credit cards are higher than 80% of the credit limit.

While I would always recommend keeping a tight reign on the use of plastic, I would suggest that maintaining, and if possible, building a savings balance is probably more critical today as long as the credit card balances are less than 80% of the credit limits and within our ability to make the payments while saving.

The problems today that would affect my thinking include:

Credit card companies and some home equity lenders have been reviewing accounts and reducing credit limits. Therefore, I would prefer to rely on my savings rather than find the credit, which I thought would be there for emergencies, had evaporated.

Another concern would center on the possibility that a person could lose his/her job. If so, the credit would quickly dry up anyway.

So, the more urgent needs to maintain a good credit score during these times of economic uncertainty would include:

Always make scheduled payments promptly;

Keep credit and charge card usage in check. Use them for emergencies only. Definitely, keep balances below 80% of the credit limits.

Make sure the person considers himself a creditor that also must be paid something each payday, in the form of a savings deposit.

The equivalent of three months of expenses in savings is a very worthy goal. But, for most of us, it will take time to build up the savings to that amount. But, if we don’t start on it today, we’ll never achieve it.

Just a thought from Uncle Gare."

Thanks Gary!

TIP: Ways to raise your credit score

2009-04-02T14:59:00.003-05:00

TIP: Two ways to make the biggest impact on your credit score are 1) make your payments on time and 2) keep your balances low.

I recently paid down a balance on one of my credit cards with some savings. It was a tough choice because I know I'm supposed to keep 3 months of expenses in savings (gee, if it only it had been that much), but it seemed useless to have money in savings earning so little when I'm paying so much for credit cards. Anyway, I'll be curious to see how it impacts my credit score. It also reduced my minimum payment, so now I'll continue to make the higher payment and more of my money will go toward paying off the principal balance, lowering my finance charges. (That's called Snowballing, by the way. I should blog about that debt reduction strategy one of these days...)

For more ways to improve your credit score, see this article on our website. It's part of our Balance Financial Fitness program.

What to shred, what to keep

2009-04-01T10:26:00.006-05:00

Shred Day is coming up again this Saturday, April 4 from 10 am to noon at our Naperville branch. Shred Day is a convenient way to shred documents with personal information and protect yourself from identity theft. We sometimes get questions about what to shred and what to keep. Below is a chart to help you out:

TIP: Reuse your plastic ziplock bags

2009-03-31T10:28:00.002-05:00

Wash your plastic zip lock bags! I can make a box of zip lock bags last a long time. It's really easy to wash them, just emmerse them in soapy water and hang them upside down to dry. The Daily Green agrees.

The Economic Crisis Simplified

2009-03-30T15:34:00.006-05:00

I read an article online today about how most Americans don't understand the financial chaos we're encountering. Below is a video that illustrates what happened in easy to understand terms! This video was created by Jonathan Jarvis.

Earth Hour is tomorrow: Sat 3/28 at 8:30 PM

2009-03-27T11:29:00.005-05:00

Earth Hour is tomorrow at 8:30 pm - that's the hour when we're supposed to turn off/unplug as much electricity as possible and save the earth a little energy. Last year I realized how many "things" I had plugged in that were using electricity, that I rarely ever used. For example, my fax machine! Once I unplugged them, they never got plugged back in. Only the stuff I use regularly got plugged back in. If everybody eliminated a few "energy vampires" like these, think how much we'd save.

Give it a try for one hour tomorrow at 8:30 PM. Maybe you'll discover how much you love candlelight. Or how putting on an extra sweater or snuggling under a blanket is a fun alternative to turning up the heat. I'd like to hear your experience with Earth Hour - what did you find out?

Check out these photos of the city of Chicago during Earth Hour 2008.

TIP: Save $1400 a year...drink tap water

2009-03-26T12:15:00.003-05:00

TIP: You can save $1400 a year by dumping your bottled water habit in favor of tap water, according to an article on The Daily Green.

A couple years ago I installed a water filter in my kitchen, so now we drink filtered water straight from the tap. It's a great way to get better tasting water at a lower cost, and without the plastic that seeps into bottled water.

If you're concerned about the quality of tap water vs. bottled, here's an interesting article that makes the case for city tap water being better than water - the standards that city water is held to is much higher than water bottling plants. Check it out: http://www.nrdc.org/water/drinking/bw/exesum.asp

TIP: Cut Water Costs with a Rain Barrel

2009-03-25T13:14:00.004-05:00

TIP: Cut your water bill this summer with a rain barrel that collects rain water from your roof to water your garden or wash your car! I installed one last year, it was really easy. And I almost always had water available to water my flowers. The only thing I didn't like is the water pressure is nearly zero, so it requires some patience. But still, it was free water compliments of Mother Nature! The Conservation Foundation in Naperville is offering a workshop on Saturday April 4 ($10) and they'll be selling rain barrels ($85) - get more info at http://tinyurl.com/d3ye4j

Our video!

2009-03-24T12:19:00.001-05:00

A little video to tell you more about Hawthorne:

TIP: Buy in bulk for the best prices

2009-03-20T14:43:00.002-05:00

SAVINGS TIP: Buy your items in the largest size container available for the lowest cost per unit. The same holds true for cleaning products and dog food too. Plus, larger sizes use less packaging and are kinder to the earth.

Everyone is always touting the benefits of buying clubs like Costco and Sam's Club. But I've found that I end up blowing my whole grocery budget on big quantities of items and I miss certain things on my list. Then, of course, I end up with a few extra impulse items, too. I wonder if it really equates to savings. Maybe it does if you commit to only buying the things you normally would buy.

What do you think?

Good news...Housing market could be improving

2009-03-19T13:21:00.003-05:00

Good news! Over the past few weeks, the majority of our mortgage pre-approval applications have been for purchases, as opposed to the many refinance applications of the past few months. We are hopeful that this is an indication of the real estate market starting to move, at least in the Naperville and Bolingbrook areas. Realtors…they’ll be knocking on your doors next! At Hawthorne, we’re working to create a network of Realtors, attorneys, property inspectors, etc, to whom we can refer our mortgage preapproval applicants. If you’d like to be considered for our Network, contact Christine Roehrig at croehrig@ehawthorne.org or 630-983-2335.

PS. Today's rate is holding at 4.875% for 30 year fixed, no points!

Unemployment and inflation have been worse

2009-03-18T17:27:00.002-05:00

Here's an interesting chart provided by miseryindex.us - which shows us that inflation and unemployment have been worse...much worse! Check out 1980 when unemployment was 20.76%! We finished 2008 at 9.61%.

Slivers of good news...bring 'em on!

2009-03-18T09:33:00.005-05:00

Dan Mica, the President of the Credit Union National Association said on Fox News yesterday that consumers need to hear whatever "slivers" of good news are available, and that the Federal Market Open Committee needs to focus on the "green shoots" of positive news that is starting to sprout up. I agree...what we need is to focus on the positives! Below is Dan Mica on Fox. ">And here's some good news to focus on - housing starts were up in February!