Community

Freedom’s support of and activity in the Harford County, MD community.

Fun Activities to do with Your Kids at Home

Kids Activities

April is usually Youth Month here at Freedom Federal Credit Union.  Once our normal operations resume, we will be rescheduling the promotion.  In the meantime, we understand it isn’t easy to be holed up at home with just your family for company. After two days, you may be thinking there isn’t enough coffee or chocolate in this world for a parent who’s stuck home with their kids for weeks at a time. As the parent, though, you have the unique opportunity to fill this time with precious memory-making and family-bonding activities.

Here are some fun activities to keep your kids busy while you wait out the pandemic at home:

Marshmallow Tinker-Toys:

For a fun twist on the classic building toy, take pretzel sticks and mini-marshmallows and let your child build a world of sweetness. Have them create pretzel-marshmallow people, houses and towns. It’s creative, sticky fun, and best of all, when they’re done, they can eat their sweet creations!

Puppet Shows:

All you need for the show of a lifetime is a cardboard box, some Popsicle sticks, old socks (which may have lost their match) and markers for decorating. If you have googly eyes in the house, glue them on for more realistic-looking sock puppets. Have your child entertain you, or be the entertainer — either way works. Let the show begin!

Scrapbook:

Spend some quality time reliving precious memories by digging out the scrapbooking supplies and old photos to create a timeless masterpiece together.

Salt Painting:

Move over, glitter; this new painting technique makes designs that are just as pretty and twice as fun! Lay a piece of cardstock on top of some old newspapers. Have your child draw patterns on the paper using Elmer’s glue. The glue lines should be on the thick side. Next, pour table salt over the wet glue, making sure all the glue is covered in salt. You can speed up this step by tilting your paper after pouring the salt. Shake off all excess salt. Now, using watercolors, let your kids paint the salt! This works best if the paint is a bit watery so the brush doesn’t have to touch the salt too often; it can simply drip onto the paper. When your child is done painting, they’ll be left with a spectacular, super-cool design!

Teach a Household Skill:

Instead of complaining about the endless housework, enlist your child’s help! Even very small children can help sort laundry, load the washing machine and press the buttons to turn it on (with your supervision, of course). Have the older ones help you bake, letting them put their math skills to use by adding fractions in recipes. And, of course, everyone cleans up their own messes when the day is done!

Simon Says, “Draw!”:

Give this old favorite a twist by breaking out the craft supplies. Set up a table with paper, crayons, markers, stamps and any other fun coloring supplies you have in your house. Seat your kids around the table and begin an intense game of Simon Says, only instead of movements, instruct your kids to draw something on their papers. You can have them draw basic shapes in specific colors, or something more complex if they’re a little older. Anyone who messes up is out of the game!

Balloon Ping-Pong:

No need for a bulky ping-pong table! Just tape large popsicle sticks to the backs of paper plates, blow up a balloon and have your preschoolers play ping-pong with their makeshift paddles over your empty kitchen table!

Let it Snow!:

It’s been a snowless winter in Maryland, but that doesn’t mean you can’t bring the blizzard home. Whip up a batch of homemade snow while you’re stuck inside during the COVID-19 outbreak. Let your kids have a blast creating a winter wonderland that’s almost as good as the real thing. In a large pan or bin, mix 3 cups of baking soda with ½ cup hair conditioner. Note: If you don’t have enough baking soda on hand, you can also use shaving cream for your “snow.” Keep on stirring until the mixture turns cold, soft and feels like … snow!  Dig out the toy cars, small beach shovels and collections of Little People or Playmobil people and let the fun begin!

Scavenger Hunt:

If your kids are bouncing off the walls from being cooped up at home, have them let off some steam with a good old-fashioned scavenger hunt. Set up hints around the house and have them race from clue to clue searching for the treasure you’ve hidden for them. If your kids are too young to read, this can work with picture clues as well. The “treasure” can be a special treat you have in the house, a new game or art supply you’ve been saving or their favorite stuffed teddy.

No, it isn’t easy to be holed up at home with your kids. But, with some creativity and a positive attitude (and lots of coffee and chocolate), you can fill this challenging time with warm memories your children will treasure for the rest of their lives.

Your Turn: How are you keeping your kids busy during the pandemic? Share your best ideas with us on Facebook, Twitter or Instagram! @FreedomFedCU

Should I Buy a House During a Pandemic?

Buying a House During a PandemicQ: I’ve been planning to buy my first home this spring, and I’ve spent years preparing for this purchase. Now that the coronavirus has had a negative impact on the economy, I’m wondering if I should go through with my plans. Is it a good idea to buy a house during a pandemic?

A: The coronavirus outbreak that has swept through the world while wreaking havoc on the national and global economy has given rise to dozens of financial questions. The uncertainty that characterizes this time is confusing the average American and financial experts alike. No one can say when this pandemic will come to an end, or what kind of lasting impact it will have on the economy. Experts can only look at past economic crises and downturns to try to predict what the short-term and long-term financial future will look like in the United States.

Let’s take a look at the mid-pandemic housing market and explore the wisdom of purchasing a home during a time of economic instability.

 

What does the current housing market look like? 
In a twist of irony, the home sales of February 2020 were the strongest they’ve been in the country since 2007, topping 5 million sales. Factors like falling interest rates and a booming economy contributed to the thriving housing market, but two months later, experts already are seeing a decline in the buying trend.

Lawrence Yun, the chief economist of the National Association of Realtors, says the market has turned sharply, adding, “The coronavirus has undoubtedly slowed buyer traffic and it is difficult to predict what short-term effects the pandemic will have on future sales.”

This downturn has likely been triggered by the economic devastation caused by the outbreak, including widespread job insecurity, thousands of shuttered businesses and millions of employees on leave from work for an indefinite period of time due to statewide and self-imposed quarantines.

The decrease in home sales is also likely due to practical reasons. When people are worried about their health and they’re trying to create a semblance of normal life while essentially being confined to their homes, it’s difficult for them to think about purchasing a new one. Meeting with potential sellers and real estate agents and looking at properties is also complicated when trying to maintain social distancing.

No one knows when the spread of the coronavirus will ease, but when it does, and normal life resumes, the market may see an increase in sales.

Does it make financial sense to buy a house now?

A dwindling housing market does not automatically mean this isn’t a good time to buy a house. In fact, times of financial uncertainty generally lead to falling mortgage rates and the ease of credit qualifications. Mortgage rates have already reached a record low of 3.13 percent in the beginning of March, prompting some buyers to rush into new home purchases. The rate, however, has since jumped back up to 3.65 percent, though it is still relatively low and may fall again.
It takes more than just a favorable mortgage rate to make a home purchase a sensible decision.

Some market experts believe the coronavirus pandemic will cause an eventual spike in home sales as buyers, fearing a recession, will want the stability and control that homeownership brings. A fixed-rate mortgage will not be subject to the peaks and valleys of a volatile national interest rate. It can also help the owner feel secure if job loss and unemployment become the norm.

Before you jump into a home purchase at this time, you may want to take a step back and look at your entire financial picture. Consider the following factors:

  • How stable is your income? If you have any reason to believe you might be facing a layoff, you may want to hold off on your purchase. Your mortgage will need to be paid each month, regardless of your employment status.
  • How long do you plan on living in this home? If you anticipate living in your new home until you’ve paid off your mortgage, it can be a great time to buy a house at a low interest rate; however, if you plan on selling within the next few years, you may come out at a loss due to a falling housing market and an unstable economy.
  • Will you have savings left after going through with the purchase? As the economy heads toward a probable recession, this is not the best time to be without a savings cushion.

The coronavirus outbreak has destroyed all kinds of plans, from vacations to weddings, parties and more. That doesn’t mean you need to put your plans of buying a house on hold. If you can comfortably afford the purchase and your income isn’t threatened by the economic instability, the favorable interest rates and looser qualifications can make this a good time to buy a new home.

Your Turn: Are you on the market for a new home? Tell us about it on Facebook, Twitter, or Instagram. @FreedomFedCU

8 VALENTINE’S DAY HACKS

8 valentines hacks

Celebrate the significant other in your life without breaking the budget…by using these hacks!

  1. Dine-in

    Restaurants sometimes up their prices when the whole world is going out to eat, so you’ll likely be paying extra just because it’s Valentine’s Day. Instead of shelling out big bucks, cook up a gourmet meal at home. Don’t forget to set the ambiance with scented candles and soft music!

  2. Explore the great outdoors

    It may be cold out, but you can still spend some shared time together outdoors. Bundle up and take a refreshing walk under the stars. Watch the waves crash onto the shore at a beach. If it’s snowy out, let your inner child free and build a snowman together.

  3. Laugh it out

    Check out the local comedy club together for a rollicking good time that can cost as little as $5 each.

  4. Hit the gym

    Gym memberships and day passes usually decline in February when many people have abandoned their New Year’s resolutions to get fit. A shared workout can be a great bonding experience that’s good for your health and your wallet, too.

  5. Make a memory box

    Instead of expensive gifts, take a walk down memory lane together by making a memory box. Cover a small container in decorative material, or spray-paint it in your chosen color. Then throw in mementos you have saved up from your months or years of dating.
    Grab a tub of ice cream and enjoy a wonderful evening reliving some of your best shared moments.

  6. Get cultured

    Give your date a refreshing twist by visiting a local museum! Choose a place with displays that appeal to each of your interests. Studying works of art or historical artifacts makes for fabulous conversation.

  7. Gift them with a gesture

    Everyone has a guilty pleasure they can’t get enough of. Give your partner an all-out indulgence fest this Valentine’s Day for a truly thoughtful gift. If your significant other loves waking up to a huge stack of pancakes, surprise them with their dream breakfast-in-bed. If they have a thing for Snicker bars, fill a huge, funky container with their favorite chocolates.
    You can also offer to do a household chore you know your partner loathes, like doing laundry. Decorate a small piece of cardstock and write up a “certificate” that gifts the recipient with four loads of laundry, washed, dried and put away. It won’t cost you anything, and it’s sure to put a smile on your partner’s face!

  8. Movie matinee

    Instead of paying full price for movie tickets, see your favorite picture at a daytime matinee. You’ll save a bundle on tickets just by going a bit earlier in the day. Theaters are also less crowded during the afternoon, making for a more enjoyable experience all around.

On behalf of everyone at Freedom, we wish you a very Happy Valentine’s Day!

 

About Freedom Federal Credit Union

Freedom serves and is open to anyone who lives, works, worships, attends school, volunteers, or has family in Harford County, MD. As a credit union, we are committed to putting you first, not shareholders, and helping you achieve your financial goals. Learn more at freedomfcu.org or call us 800-440-4120 to see how we can help.

How To Get Your 2020 Tax Documents

Your 2020 tax documents are now available in Online Banking or through the mail.

  • Tax Documents through Electronic Statements (eStatements):
    If you have e-Statements, 1099s and 1098s are archived and available in Online Banking. First, log in to Online Banking and click on any share or loan account, then click the documents tile to get to the eStatements portal.**  Once you are in the eStatement portal, choose tax forms from the drop down to view and/or print your document.
  • Getting Tax Documents if you DO NOT have Electronic Statements (e-Statements)
    We have mailed tax forms to members not registered for e-Statements. Forms went to the mailing address we have on file.

Please remember to list Freedom online banking as a trusted site to prevent pop-up blockers from blocking access to e-statements.

If you have any questions, please call us at 1-800-440-4120, or email memberservices@freedomfcu.org.

 

**Please be sure to disable your browser’s pop-up blocker to ensure our e-Statements page will load successfully for you.

Taking Steps Towards Financial Improvement For The New Year

The start of a New Year is a wonderful time to make important changes in your financial life. And you don’t have to go it alone. Here are some tips on financial improvements you can make starting now. And know that Freedom Federal Credit Union will be here with you every step of the way.

We’ve broken down some of the most popular financial resolutions into concrete steps and outlined the ways Freedom can help you implement each change into your life.

Build a Budget

Why it’s crucial: Creating and sticking to a monthly budget will force you to be accountable for your spending while giving you a clear idea of your financial reality.

In 3 steps:

  • Track your spending over three months.
  • Using a spreadsheet, or a personal finance app like Mint, divide your expenses into categories, such as mortgage, auto, groceries, entertainment, etc. Use an average of the last three months to set a reasonable spending limit for each category.
  • Going forward, track your spending and be sure to stick to your preset limits for each category.

If your budget reveals your monthly income doesn’t cover your expenses, or you find you’re overspending in any area, look for ways to cut back.

How Freedom can help: Stop in at any time to speak to a Financial Service Representative for help with managing your money. We also offer our members great online budgeting software and financial educations tools, absolutely free.

Get Out of Debt

Why it’s crucial: Carrying long-term debt can often mean paying extremely high amounts of interest for years on end. It can also devastate your credit score.

In 3 steps:

  • Make a complete list of all your outstanding debts, in order, from smallest balance to largest.
  • Review your monthly budget and look for ways to cut back. Alternatively, you can look for ways to increase your monthly income.
  • Work on paying off your smallest debt with the money you trimmed from your budget. Once you’ve paid off that debt, move on to the second-smallest. Repeat until you’re completely debt-free.

How Freedom can help: If you’re carrying multiple high-interest rate debts, consider taking out a debt consolidation loan to simply things. This way, you’ll only have one low-interest loan payment each month. It may even reduce the total amount you’ll pay each month.

Start (or Increase) Savings

Why it’s crucial: According to the Federal Reserve, 40% of Americans can’t cover a $400 expense. Living without a safety net means a relatively small, unexpected expense can throw off your finances and force you into debt. Aside for paying for emergencies, savings can help fund your long-term plans, goals and dreams.

In 3 steps:

  • Review your monthly budget to identify your biggest spending traps. Then, find ways to cut back, such as shopping with cash only, cancelling subscriptions you never use or initiating a “financial fast” one weekend each month, in which you spend no money.
  • Use all money saved to open an emergency fund and a long-term savings fund at Freedom Federal Credit Union. It’s best to focus primarily on your emergency fund until you have 3-6 months’ worth of living expenses stashed away.
  • Set up an automatic monthly transfer from your Freedom Checking account to your Freedom Savings account(s) so you can focus on your savings without thinking about it.

How Freedom can help: Freedom offers several options for Savings and Checking Accounts that provide excellent opportunities for growth. You can open an account today with an initial deposit as low as $1.00.

Maximize Your Retirement Contributions

Why it’s crucial: Many workplaces offer to match 401(k) contributions. These contributions aren’t taxed and they come off your paycheck, which is taxed, making participation an excellent decision.

In 3 steps:

  • Speak to an HR representative at your workplace to find out about your current 401(k) contributions.
  • Identify how to best maximize your 401(k) contributions going forward.
  • If you have any other retirement funds, such as an IRA or a Roth IRA, also review your contributions to determine if you are making the maximum funding allowed.

How Freedom FCU can help: Our Financial Service Representatives will be happy to help you determine the best course of action for planning your retirement. Let Freedom help you meet your financial goals this year.

On behalf of everyone at Freedom, we wish you a very Joyous and Happy New Year.

 

About Freedom Federal Credit Union

Freedom serves and is open to anyone who lives, works, worships, attends school, volunteers, or has family in Harford County, MD. As a credit union, we are committed to putting you first, not shareholders, and helping you achieve your financial goals. Learn more at freedomfcu.org or call us 800-440-4120 to see how we can help.

Best of Harford County

Vote Freedom for Best Credit Union in Harford County!

vote for Freedom as the best Bank/Credit Union in Harford County!

VOTE HERE!

Here at Freedom we appreciate and value all our members and local partners. We are a community-chartered credit union offering financial services to those who live, work, volunteer, worship, attend school, or have family in Harford County.  Freedom has been in business since 1953 and has five locations throughout Harford County.

If you’re happy with your experience at Freedom, we need your vote to win best Bank/Credit Union in the Harford’s Best Readers Poll. With your help, we would like to be voted Harford’s Best Credit Union in 2019!  

Votes are being collected now until 5pm on December 13th. Please click on the link below and select Freedom Federal Credit Union in the Personal Services Category, Best Bank/Credit Union!

VOTE HERE!

 

 

3 Famous Scary Stories and What They Teach Us

3 famous scary stories

It’s that time of year again! The nights get longer. Haunting winds rattle shutters, and swaying trees cast spooky shadows in the moonlight. It’s time to tell ghost stories!

These stories scare us, but they can also show us something. Let’s see what three of the most popular ghost stories can show us about financial responsibility for a spook-tacular Halloween!

1) The Ghost in the Attic

The Story
It starts a little differently each time. Maybe there’s a bump in the night. A squeaky floorboard creaks and groans even when no one is walking near it. More and more squeaks and bumps that no one can explain keep happening. The cabinets open and close by themselves. Loud noises come from nowhere in the middle of the night. Everyone is terrified, and no one can sleep. Blood starts dripping from walls as screams come from the vents and doors slam. This house is haunted.

It turns out there’s some history to the house. A gruesome murder took place there. It was built on an ancient Native American burial ground. The attic was home to an abandoned child who was forced to live there because of his hideous deformity. The only way to get back to normal is to give these angry spirits what they need.

The Reality
If your house has creaking floorboards, or your heating and cooling system goes bump in the night, you might be headed for a far more serious problem than ghosts. Unexplained noises in the house could be signs of serious structural problems. Knocks in the walls can be a plumbing issue about to break loose. Uneven construction can really make cabinets open by themselves and doors slam uncontrollably. Like in the story, many of these problems come out of your house’s history. It might have been built on an old mine site or just built in a hurry.

Left untreated, these little problems can create big trouble. Squeaky floorboards can break, pipes can rupture and foundation problems can ruin your home. If you’re counting on homeowners insurance to pay for these accidents, think again. Homeowners insurance policies broadly don’t cover “construction defects,” which means you’ll be stuck holding the bill.

Consider getting out in front of these problems. You can use your home equity line of credit to repair your foundation, fix structural problems in your home and perform other necessary upgrades. Don’t let the specter of uncertainty ruin your ghoulish good time!

2) Vampire Infestation

The Story
Up a winding mountain pass deep in the Transylvanian high country sits an ancient mansion. The simple folk who live in the valley will not go near it, nor will they even speak a word about it, for fear of attracting the dark attention of the master of the house. The man is never seen and the house might be assumed empty if it were not for the ominous cackling that echoes through the farms and pastures that surround the mountain.

Legend tells that the man in the mansion is an unholy abomination who subsists on the blood of the innocent. Young children have been found by the road leading up to the mansion, their flesh cold and clammy as though the life itself has been drained out of them. Travelers who arrive at the village scoff at the tale of Dracula’s Mansion, but those who journey up to it are never seen again.

The Reality
While you don’t have any vampires in your life (probably), you do have something you never see that’s sucking the life out of your financial success. Outstanding debt is a seldom-seen figure that casts an ominous shadow over your household finances. Make no mistake: The beast is feeding on your innocent salary and putting your whole household in its sight. The average household has $17,000 or more in debt and faces an average minimum payment of $423 per month.

If you want to drive a stake through the heart of this monster, consider a debt consolidation loan. These loans can repair your credit, lower your monthly payment and free you from the control of the heartless creature. Best of all, you won’t need to deal with the smell of garlic!

3) Zombie Apocalypse

The Story
The streets are quiet. There are no cars or pedestrians. An overcast sky casts flickering shadows on the desolate streets. The ordinary noises of a city are starkly absent. The only clearly audible sound is the slow chomping of the walking dead who are feasting on the bodies of recent victims.

Cowering in basements and perched on rooftops, human survivors band together. Their goal is simple: Stay alive for one more day. Long past the point where rescue helicopters stop flying, these brave souls will go their own way and resist being part of the zombie horde.

The Reality
Zombies are a cautionary example of what happens to us when we consume just for the sake of consumption. A zombie is a sad creature who lacks the capacity to plan or see further than the next meal. We’ve all been there – splurging on a candy bar in the checkout lane, not because we were hungry, but because we wanted it and it was there.

The best way to zombie-proof yourself is to make a realistic budget and stick to it. Make a plan for your income that includes saving and investing. Be sure to include space for planned indulgences – like discount Halloween candy on Nov. 1.

Sources:

http://homeguides.sfgate.com/homeowners-insurance-cover-foundation-repair-63590.html

http://www.nerdwallet.com/blog/credit-card-data/average-credit-card-debt-household/

http://www.free-online-calculator-use.com/credit-card-minimum-payment-calculator.html

 

#FreedomToHelpChallenge 2019

#FreedomToHelpChallenge

Win $1,000 for your favorite local charity!

Freedom Federal Credit Union believes in people helping people and we are challenging Harford County volunteers, companies, and non-profits to participate in the award-winning 2nd annual #FreedomToHelpChallenge photo contest this holiday season. Showcase volunteerism in Harford County for the chance to win a $1,000 charitable donation for your local non-profit of choice and other weekly prizes.

HOW TO ENTER:

1. Like or Follow Freedom Federal Credit Union on Social Media (Facebook, Twitter, Instagram)

2. Post public photos showcasing volunteerism in Harford County from November 1st through December 12th, 2019

3. Include a description of the volunteer effort along with the searchable hashtag, #FreedomToHelpChallenge on every post

4. Visit us on Facebook every Friday to participate in public voting to increase your chances to win! (Every like equals a vote!)

On Instagram? Tag Freedom @FreedomFedCU or DM us to follow you if your account is private.

The #FreedomToHelpChallenge was recognized by CUNA in 2019 with The Dora Maxwell Social Responsibility Community Service Award

 

Read Full Contest Rules and Details Here.

Grand Prize Info: The Final Showdown
Public Voting for finalists will be available on Freedom’s Facebook page on Tuesday, December 17, 2019 at 10:00 am for 24 hours from the start of the voting period. Every like equals a vote. Share with your friends to increase your votes. The Grand Prize Winner will be announced via Freedom’s Facebook, Twitter, and Instagram page on or before December 20th, 2019.

*Selected charity must be a registered 501(C)3 with a proven focus in Harford County.