#NationalNursesWeek

LET’s CELEBRATE NATIONAL NURSES week!

WIN A $25 Amazon eGIFT CARD FOR A HARFORD OR BALTIMORE COUNTY NURSE – 5 CHANCES TO WIN!

Look for our #NationalNursesWeek Nomination Post on our social media pages starting May 6th, 2021 running until 12 pm Wednesday, May 12, 2021.

If you are a nurse or would like to nominate a nurses who lives or works in Harford/Baltimore County…

1. POST the nurse’s name and agency/organization in the comments on our Facebook, Twitter , or Instagram (@FreedomFedCU) post
(Feel free to include a picture or comment about your nomination!)

2. FOLLOW our social media page

3. SHARE our social media post

We will draw a winner Wednesday, May 12th in the afternoon!

Full Contest Rules / Details

Visit us on Facebook, Twitter, or Instagram to get started.

*Nurses may live and/or work in Harford or Baltimore County. Nurses are welcome to enter themselves. One nomination per person, but nurses can be entered multiple time by other individuals to increase their chances of winning.

#TeacherAppreciationWeek

LET’s CELEBRATE Teacher appreciation week!

WIN A $25 Amazon eGIFT CARD FOR A HARFORD OR BALTIMORE COUNTY TEACHER – 5 CHANCES TO WIN!

Teacher Appreciation Drawing — Look for this post on Freedom’s Social Media Accounts

Look for our #TeacherAppreciationWeek Nomination Post on our social media pages starting May 3rd, 2021 running until 12 pm Friday, May 7, 2021.

If you are a teacher or know a teacher who lives or works in Harford/Baltimore County…

1. POST the teacher’s name and school in the comments on our Facebook, Twitter , or Instagram (@FreedomFedCU) post
(Feel free to include a picture or comment about your nomination!)

2. FOLLOW our social media page

3. SHARE our social media post

We will draw a winner Friday, May 7th in the afternoon!

Full Contest Rules / Details

Visit us on Facebook, Twitter, or Instagram to get started.

*Teacher may live and/or work in Harford or Baltimore County. Teachers are welcome to enter themselves. One nomination per person, but teachers can be entered multiple time by other individuals to increase their chances of winning.

Credit Cards: Reading the Fine Print

Q: How do I read the fine print from my credit card issuer?

A: Fine print often has information you can’t afford to miss. Here’s the big deal on the small print found on credit card paperwork:

What do all those terms mean?

First, let’s take a look at 10 basic credit card terms that are important to know but are often misunderstood:

Accrued interest – The amount of interest incurred on the credit card balance as of a specific date.
Annual Percentage Rate (APR) – The rate of interest paid on a carried credit card balance each year.
Annual fee – The yearly fee a financial institution or credit card company charges you for having the card.
Balance – the amount of money owed on a credit card.
Billing cycle – The amount of time between the last statement closing date and the next one.
Cash advance – Money withdrawn from your credit card account, usually with higher interest rates and attached fees.
Credit limit – The maximum amount of money that can be charged to your credit card.
Grace period – The time the consumer has between making a purchase and being charged interest.
Late payment notice and fee – These will alert you to a missed payment and its fee for missing it.
Minimum payment – The smallest amount of money the consumer can pay each month to keep the account current and avoid fees.

Do I need to read the small print on my credit card application?

Those microscopic letters on your credit card application contain important information. Here are some common claims you might find on an application and what the small print below these claims actually says:

Claim: Sign-up bonus: $950!

Fine print: Must spend $3,000 on the card within the first three months of ownership.

Claim: Interest-free offer!

Fine print: Expires after 18 months, and then a 22.5% interest rate kicks in.

Claim: 0% balance transfer!

Fine print: But there is a $300 balance transfer fee.

Claim: Cash advance of up to $1,500!

Fine print: With 20% interest and a $200 cash-advance fee.

How do I find the fine print on my credit card application or statement?

Read the fine print before you sign up for a credit card. You’ll find this information on the credit card’s paper or digital application under a label marked “Pricing and Terms” or “Terms and Conditions.” You can also find this information when researching credit cards online; it may be labeled as “Interest Rates and Fees” or “Offer Details.”

If you’ve already signed up for the card, you’ll find these conditions on the “Cardmember Agreement” that generally comes with a new credit card.

Your credit card statements will also have lots of fine print, though most of it will be on the back of the bill. The information there will include everything in your application, as well as some additional information about your monthly bill.

Your Turn: Have you ever regretted missing the fine print on your credit card paperwork? Tell us about it on Facebook, Twitter, or Instagram. @FreedomFedCU

About Freedom Federal Credit Union

Freedom Federal Credit Union is proud to be your financial partner. Freedom serves and is open to anyone who lives, works, worships, attends school, volunteers, or has family in Harford or Baltimore 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/personal/credit-cards or call us 800-440-4120 to see how we can help.

Payment Protection Program Scams

The Paycheck Protection Program (PPP) has been one of the most important pieces of legislation signed into effect since the COVID-19 pandemic began. The unsecured loans through the Small Business Association (SBA) have enabled our favorite retail shops, restaurants and small businesses to stay afloat, even as the coronavirus devastates sectors of the economy.

Not surprisingly, scammers have been using the PPP for their own purposes, mainly to con struggling business owners out of money. In these scams, they’ll pose as SBA representatives or legitimate lenders to ask for personal information from the borrower. They may also send bogus emails appearing to be from the SBA to lead the victim into downloading malware.

Scammers are getting smarter all the time, but so are we! Here’s how to avoid PPP scams:

Know how PPP loans are processed

Ready to apply for a PPP loan? Fill it out the SBA PPP loan application, and submit it to an SBA-approved lender. You’ll also need to provide some documents, such as tax returns for 2019, verifiable payroll expense documents, your most recent mortgage or rent statement, etc.

If you’re applying for a Second Draw PPP Loan, you will also need documentation that shows how you have used, or plan to use, your original PPP funds.

After you’ve submitted your application, just sit back and wait for approval.

How can I protect my business from PPP fraud?

Do:

Be wary of any individuals demanding immediate payment or asking that you make immediate contact to be eligible for a PPP loan. These are likely scammers.
Only use a lender that is accredited by the SBA. You can find all SBA-approved lenders here.
Look for the .gov at the end of each email or website allegedly from the SBA or another government entity.
Report any suspected scams to the Better Business Bureau (BBB). Don’t let those crooks walk free!

Don’t:

Pay for a program that promises to process or expedite a PPP loan request if the organization behind the program is not accredited by the SBA.
Share any personal information with an unverified caller or email contact. If it’s personal info, make sure to keep it that way!
Click on links or download files from an unfamiliar email address.

Stay safe!

Freedom has made the Paycheck Protection Program available to its current members. Applicants must have established a business or personal membership with Freedom on or before December 27, 2020. Visit freedomfcu.org/business/ppp/ for more details.

Your Turn: Are you a small business owner who has applied for a loan under the Paycheck Protection Program? Tell us about it on Facebook, LinkedIn,Twitter, or Instagram @FreedomFedCU.

Show Us Your Snow Day Pics

SHOW US YOUR Best Snow Day pics!

Win a $25 Amazon Gift Card!

Look for our #SnowDay Photo Contest on our social media pages starting February 2, 2021 running until Friday, February 5, 2021.

If you live, work, worship, or have family in Harford or Baltimore County…

1. POST your photo in the comments on our Facebook or Twitter post
(Or direct message @FreedomFedCU on Instagram)

2. FOLLOW our social media page

3. SHARE our social media post

We will draw a winner Friday, February 5, at about 3pm!

Full Contest Rules and Details

Visit us on Facebook, Twitter, or Instagram to get started.

Breathe 379 Wins Freedom Federal Credit Union’s #FreedomToHelpChallenge

Credit Union Awards $1,000 to Small Local Non-Profit to Support their Hope Center

Bel Air, MD – Freedom Federal Credit Union is pleased to congratulate Mike Nolan, Founder, Executive Director, and volunteer for Breathe 379, for winning the 3^rd annual #FreedomToHelpChallenge. The six-week social media contest called for entrants to post pictures celebrating Harford or Baltimore County volunteerism for a chance to win $1,000 and other weekly prizes for their local charity of choice. Each week individual volunteers and non-profit organizations posted pictures showcasing local volunteerism in an effort that reached all corners of the two counties. Weekly winners and the Grand Award winner were chosen during public voting periods on Freedom’s Facebook page.

“I have to be honest, I’m completely blown away by it. I wasn’t even going to enter thinking we didn’t have a chance to win, but on a whim, I posted a submission of our amazing volunteers, and our supporters took it from there. We are so grateful for the Freedom To Help Challenge, for giving us the opportunity to showcase and thank our volunteers, and for everything Freedom has done for us in the wake of winning, not just in donations, but with publicity for our cause,” stated Mike Nolan. “This award will now allow even more members of our community and beyond to be served by Breathe’s Hope Center! Thank you, Freedom Federal Credit Union, for helping us help others!”

Officially founded in 2016, Breathe 379 is based in the simple notion of helping others, whatever the need. Breathe’s Hope Center, based in Edgewood, Maryland, looks quite different from most food and clothing pantries, providing a relaxing environment and complimentary coffee bar to help ease stress and offer the hope that is very much needed in everyone’s life from time to time. The organization is probably best known for their B379 Toy Drive, which distributes thousands of toys to local Harford County children in need during the holidays.

Mike Nolan and volunteers Nick Nizer, Vice President and Manager of the Well at Breathe, Bailey Alampi, Manager of Bailey Sue’s Country Market at Breathe, and Cheryl Andrews, Manager of The Cabin at Breathe, were all recently honored in a check presentation held at Breathe’s Hope Center with the $1,000 grand award. The Hope Center is located at 2124 Nuttal Ave. in Edgewood, Maryland and is open each Wednesday from 10 a.m. until 2 p.m. and the second Saturday of every month from 12 p.m. until 4 p.m. Learn more at breathe379.com.

About Freedom Federal Credit Union

Freedom Federal Credit Union is a community-chartered federal credit union offering consumer financial services to those who live, work, volunteer, worship, attend school, or have family in Harford or Baltimore County. Additionally, Freedom offers a full-line of banking services for all businesses, associations, and other organizations that are based in Harford or Baltimore County. Freedom has been in business since 1953 and has five locations throughout Harford County. To learn more, visit www.freedomfcu.org

How Do I Give Myself an End-of-Year Financial Review?

Freedom Federal Credit Union Recommends This 6-Step Financial Check-up Before 2021

Q: With 2020 drawing to a close, I’d love to give myself an end-of-year financial review before it goes. Where do I begin?

A: Giving yourself an end-of-year financial review is a wonderful way to check on the progress you’ve made toward your goals, highlight areas needing improvement and update your accounts, funds and investments. Here’s all you need to know about this important end-of-year ritual from Freedom Federal Credit Union.

Step 1: Review all your debts and create a payoff plan

Take a few minutes to list all your debts and their interest rates. Have you made any real progress toward paying them off this year? Or have you stuck with minimal payments each month, leaving the actual balance to pile up since you’re mostly just paying for interest?

If your debt needs some help, you have two primary options for how to proceed:

The avalanche method. Focus on paying off the debt with the highest interest rate first, and then continue to the debt with the second-highest interest rate. Move through the list until you’ve paid off all debts.
The snowball method. Work your way through your debts, starting with the lowest-balance debt. Then, once it’s paid off, apply the payment that was previously committed to that debt to your new lowest debt. Repeat through the rest until all debts are paid off.

For both methods, be sure to pay the minimum balance on all your other debts each month. Try to boost your income and/or trim your monthly spending for extra cash and use it toward the first debt you are paying off completely.

Step 2: Automate your savings

Review your savings from 2020. Have you reached your goals? Have you forgotten to put money into savings each month?

Going forward, make it easy by automating your savings. Give us a call at to set up an automatic monthly transfer from your checking account to your savings account. [You can also set this up through your online and/or mobile banking with us.] This way, you’ll never forget to put money into savings again.

Step 3: Review the progress you have (or haven’t) made on financial goals

Have you made measurable progress toward your financial goals in 2020?

Take a few minutes to review your past goals, taking note of your progress and determining how you can move toward achieving them.

Step 4: Review your retirement account(s) and investments

As you work through this crucial step, be sure to review the following variables:

Your employer’s matching contributions. Are you taking advantage of this free money, or leaving some of it on the table?
The maximum IRA contribution limits for 2021. You will likely need to make adjustments for the coming year.
Management fees and expense ratios for your investments. Fees should ideally be less than 0.1%.
Your stock/bond ratio and investing style. You may want to take more risks in 2021 or decide to play it safer this year.
Your portfolio’s balance. Does it need adjusting?

Step 5: Create an ICE Binder

The events of 2020 underscored the importance of making plans in case one becomes incapacitated for any reason. Create an In-Case-of-Emergency (ICE) Binder to hold all your important documents in one place in case the unthinkable happens. Because of the sensitive nature of the information it holds, be sure to keep this in a safe place where it will not fall into the hands of identity thieves.

Include the following in your binder:

Medical information
Account information
Child care and pet care details
Online accounts and passwords
Insurance policy documentation and details
Investment accounts and details
A copy of your life insurance policy
A copy of your living will
A copy of your last will and testament

Step 6: Set new financial goals for 2021

As you finish reviewing your financial progress of the past year, look forward to accomplishing greater financial goals in the coming year.

A great way to turn dreams into reality is to set goals that are SMART:

Specific

Measurable

Attainable

Realistic

Timely

Here are some goals you may want to set for the coming year:

Create a monthly budget before January. Be sure to include all expense categories. Review on the first of each month and tweak as necessary.
Review the week’s spending with your partner each Friday night.
Pay off your largest credit card bill by 2022.
Start a vacation fund in February.
Cut out two subscriptions you don’t really use by mid-year.
Slash your weekly grocery bill by 10% before May.

Wishing you a financially healthy New Year!

Your Turn: Do you have any additional steps for your own end-of-year financial review? Tell us about it on Facebook, Twitter, or Instagram. @FreedomFedCU

SVP of Business Banking Named to Department of Social Services Advisory Board

Bel Air, MD –Freedom Federal Credit Union is pleased to recognize Bob Wehland, Senior Vice President of Business Banking, on his recent executive appointment to the Department of Social Services (DSS) Advisory Board in Harford County. Wehland received commendations on his appointment by County Executive Barry Glassman and County Council President Patrick Vincenti.

The Department of Social Services Advisory Board is involved in every phase of DSS planning, operations, and funding. The agency itself works under the mission to aggressively pursue opportunities to assist people in economic need, provide prevention services, and protect vulnerable children and adults.

Wehland comes to the board with over twenty years of banking management experience, and a long history of community involvement. Wehland is currently the Vice President for the Mason-Dixon Business Association, for which he has also served as both President and Treasurer since his initial involvement in 1999. Around the same time, Wehland also joined the board of Mason-Dixon Community Services, for which he has been the Treasurer for the last eight years.

Wehland is also the current chair of the Veterans Committee for Abingdon Elks Lodge # 2354, where he recently coordinated and assisted in delivering 115 boxed lunches and 105 hot dinners to Veterans at Perry Point.

In addition to his role at Freedom Federal Credit Union, Wehland has coordinated employee volunteers to participate in over twenty different non-profit causes and over 1,500 hours of volunteer time as Chairperson of Freedom’s Community Outreach Committee, a role he has held since 2015.

When asked to join the DSS Advisory Board, Wehland expressed that he was both “humbled and honored to be considered for such an opportunity”. “I have always believed it is important to give back to the community,” Wehland stated. “Fortunately, Freedom Federal Credit Union shares this philosophy of giving back and people helping people.”

“Offering a hand up, especially in a time of crisis, makes our world and our community a better place,” Wehland continued. “I hope to bring my knowledge, experience, and wisdom, along with my compassion and commitment to the DSS Advisory Board. I am very grateful for this opportunity and look forward to serving the citizens of Harford County in this new role.”

“Bob Wehland is as dedicated to his community as he is to the Freedom Federal Credit Union Team, and we could not be prouder” stated Mike MacPherson, Freedom’s President and CEO. “Over the years, it has been incredible to see our community being served in meaningful ways by our Freedom employees, board directors, committee volunteers, and members.”

The Credit Union encourages employees to volunteer their time and skills to better serve the Harford and Baltimore County communities, including serving on local non-profit boards and county government boards and commissions.