Why is there still a shortage on some goods? As the calendar turns from April to May, America is sailing into its third month of living with the new reality of the coronavirus pandemic. And part of that reality means empty store shelves.
Customers’ growing frustration has reached such extremes in some places that it has escalated into physical confrontations and actual larceny — over rolls of toilet paper. In mid-March, Florida sheriff’s deputies arrested a man for allegedly stealing 66 toilet paper rolls from a Marriott hotel. In early April, Beverly Hills cops found 192 rolls of toilet paper in a stolen SUV. Customers are clearly fed up with seeing empty store shelves.
What’s behind the ongoing shortage of basic commodities like toilet paper? Why are we still seeing a dearth in supply weeks after the initial onset of the pandemic and the nationwide lockdown? When will the shortage end?
Manufacturers explain that the bare shelves we saw when the pandemic first began dominating headlines were likely due to the panic that swept through the country. The hysteria was fanned by fear-mongering articles on some news sites that had very little basis in actual, proven facts.
This, in turn, led to frantic customers swarming stores and buying out paper towels, hand soap, disinfectant and toilet paper. Suppliers weren’t properly prepared to meet the overwhelming demand, and goods were understandably limited or unavailable until they could replenish their stock. In fact, according to IRI, a market research firm, demand for toilet paper swelled to such great heights in March, that sales peaked at $1.45 billion for the four-week period ending March 29. That’s a 112% increase from a year earlier.
“I can’t give you an exact number, but I will tell you we’re making more than ever,” says Arist Mastorides, president of family care for Kimberly-Clark North America, maker of Cottonelle toilet paper and other dry goods. “It’s a significant amount to cover what we think will be used with people traveling less and staying home more.”
But why haven’t they caught up with the demand by now, nearly two months later?
Eric Abercrombie, spokesman for Georgia-Pacific, the company that makes Quilted Northern toilet paper, explains that the shortage is due to a shift in the demand with the nationwide lockdown. It’s not that Americans are using more toilet paper at home than they do at work; it’s that they use a different kind. The bath tissue generally sold to the commercial market is made of one-ply recycled fiber, while the kind favored by consumers is a softer product made of two-ply virgin fiber. Suppliers need to adapt to this shift for meeting the changing demands.
Some other products, like paper towels and hand soap, are still in short supply as manufacturers struggle to restock the shelves emptied a few months ago. There have also been some interruptions in the supply chain as workers called in sick after contracting the virus or chose not to come into work to keep themselves safe from becoming infected. But there is hope on the horizon for the frustrated consumer. Manufacturers assure the public that they are hard at work to meet the changing demands and to replenish depleted stock in stores around the country. Factories are running 24/7 and temporary workers are being called upon to cover for employees who stay home. In just a few weeks, the manufacturers say, customers should be seeing fully stocked shelves once again.
Thank you all for being such loyal members of Weld Schools Credit Union, which we now call Weld Community Credit Union. Last year was quite a year of change and opportunity.
During 2019, we:
Grew by 126 members.
Reached deeper into community involvement with increased donations that feed the hungry and shelter the homeless. Every new member and every new loan helps the most vulnerable, and so please keep the referrals coming.
Highlighted where our hearts have been all along, by becoming Weld Community Credit Union.
This was a change in name only, not a merger and with no change in member ownership.
Started accepting deposits on the mobile application.
Started “instant issue” services, where we can issue a new debit card for you right at the branch, instead of waiting for a new one to arrive in the mail.
Continued improvements in our IT infrastructure to better serve you.
Increased donations to classrooms through the Jeri Cranwell Education Assistance Fund
Increased our outreach and became more active on platforms such as Facebook and Instagram
“People Helping People” is and continues to be our guiding philosophy. It means we work to help each individual member in the best way possible. It also means we seek uniqueness over other financial institutions by focusing on what is best for everyone instead of what is best for stockholders. There are no stockholders, and you are the owners of this credit union. “People helping people” also means we are focused on needs in the community, and has been our tradition since 1936. As members of Weld Community Credit Union, you enjoy some of the lowest loan rates anywhere, so continue to spread the word!
On behalf of the Board of Directors, I want to let you know of our sincere gratitude to all the staff and volunteers for their hard work and dedication to serving the members, while improving lives in the community.
Bruce Gorze, Chair Board of Directors
Report of the Treasurer
At the close of business on December 31, 2019 Weld Community Credit Union stood at 5,938 members:
2,920 loans totaling $46,817,813 {12% increase from 12/31/2018}
11,380 share & CD accounts $ 71,290,361 {-0% change from 12/31/2018}
total assets of $79,575,147 {1% increase from 12/31/2018}
We granted 912 new loans during the year totaling $23,305,231 and continue to maintain a well-capitalized reserve, which at 12/31/19 was 7.8 million dollars, or 9.86 percent of total assets.
These results of growth and stability come from your continued support and use of our many services. I want to extend a big thank you, and congratulations, to each member-owner for making Weld Community Credit Union a special financial institution. You are what makes us special.
Jerry C. Clark, Treasurer Board of Directors
Income Statement
Operating Income
Income from Loans
$2,092,460
Income from Investments
$622,737
Fees/Other Operational Income
$744,192
Total Gross Income
$3,459,389
Expenses
Operating Expenses
$2,593,481
Dividends Paid on Deposits
$15,238
Provision for Loan Loss
$34,260
Non-Operating (Gains) or Losses
$(117)
Total Net Income
$816,527
Statement of Financial Condition
Assets
Loans
$46,817,813
Less: Allowance for future loss
$(281,216)
Cash & Cash Equivalents
$572,380
Receivables
$5,797
Investments
$30,409,842
Prepaid & Deferred Expenses
$147,351
Fixed Assets
$1,023,736
Other Assets
$879,444
Total Assets
$79,575,147
Liabilities, Shares, & Equity
Liabilities
$435,617
Shares
$71,290,361
Equity
$7,849,169
Total Liabilities, Shares, & Equity
$79,575,147
Report of the Supervisory Committee
In credit unions, the ‘Supervisory Committee’ is the group who serves as the audit committee. In 2019, we employed the services of Waypoint Auditing to perform audits and review internal controls. The committee oversaw results of these audits throughout the year and worked closely with the auditors to plan additional audit activities.
During the year, the auditors found no irregularities and were complimentary of the Credit Union’s excellent record keeping and practices. Additionally, in 2019 the State regulator: Colorado Division of Financial Services, completed a routine and in-depth examination of the Credit Union’s safety and soundness. Weld Community (Schools) Credit Union continued to receive good ratings in key risk areas reviewed including capital reserve strength.
Bauer Financial, Inc., an independent rating service, reviews the financial performance of banks and credit unions in the United States, and the committee is pleased to report a 5-star rating from Bauer based on 12/31/2019 financial data.
Ken Blehm, Chair Supervisory Committee
Minutes – February 23, 2019
Weld Schools Credit Union Annual Membership Meeting Minutes
The 83rd Annual Membership Meeting of Weld Schools Credit Union was held at the Greeley Country Club on February 23, 2019. After an invocation by Joan Lind, lunch was served at 11:20 a.m.
Board of Directors members Joan Lind, Bruce Gorze (Chair), Ben Rainbolt (Secretary), Bev Menke, Jerry Clark (Treasurer), and Eric Parrish were in attendance, as well as Officers Dave Brown (President), Debbie Nixon (VP Operations), and Brad Hanna (VPFinance).
Chair Bruce Gorze determined a quorum was present called the business meeting to order at 12:09 p.m.
Gorze introduced Board members, their guests, and Weld Schools Credit Union Officers, then presented the report of the Board of Directors.
Secretary Rainbolt presented the minutes from the February 24, 2018 Annual Meeting and Gorze asked for a motion to accept the minutes. Barbara Blehm moved and Darlin Krause seconded the motion. The motion carried.
Supervisory Committee Chairperson Ken Blehm presented the Supervisory Committee report and Gorze returned to the podium to ask for a motion to accept the report. Richard Bejarano moved and Jerry Nelson seconded the motion. The motion carried.
Treasurer Jerry Clark presented the Treasurer’s report. Gorze returned to the podium to ask for a motion to accept the report. Dixie Jorgensen moved and Kay Backstrum seconded the motion. The motion carried.
Nominating Committee Chair Ben Rainbolt presented the slate of candidates running for terms on the Board of Directors and Supervisory Committee.
For the Board of Directors: Joan Lind – three year term William “Eric” Parrish – three year term
Supervisory Committee: Barb Lengel – three year term
Gorze returned to the podium and asked for nominations from the floor three times.
Hearing no nominations, he asked for a motion to accept the slate of candidates for the Board and Supervisory Committee, to be accepted as presented and a unanimous ballot be cast. Marylou Ruff moved and Darlin Krause seconded the motion. The motion carried.
President Dave Brown began his presentation by introducing the staff and recognizing volunteers. He spoke about the community charter, which now allows anyone who lives or works in Weld County to apply for membership, and how the Charter fits in with our mission, code of ethics, and ongoing community outreach. He reminded members of the importance of letting friends and family know they are eligible to join. Brown made an announcement to watch out for fraud and beware of anyone asking for your account number, and to ask us if you ever have doubts about a request.
Brown turned the presentation over to Jolene Yates for a detailed presentation about community involvement and charity outreach of the credit union and its staff.
Gorze returned to the podium and declared “With no further business to come before this meeting, the Annual Meeting is adjourned.” The Member’s Annual Meeting thereby adjourned at 1:08 p.m.
Marketing Director Jolene Yates then coordinated door prize giveaways and other gifts with help from WSCU employees Katie Schmunk, and Kristen Campbell. Special gifts were given to: Juils Jorgensen , the longest term member in attendance, and Robert Perrich, the newest member in attendance.
The following cash prizes were won by random drawing for members: $25 Wendy Griffis, Pauline Delgado, David Sauter and Ramona Penaflor. $50 Brian Halla, Larry Spohn, and Cynthia Silva. $83 Juils Jorgensen, Francis Shea, Julie Sharp, and Mary Kippes, and a Waterpic Pet Wand by Dawn Morrison
After the meeting, an Idea Card was randomly pulled from the box, and Abigail Nelson won 1- $50 VISA card.
Community Involvement
We continued to focus on our Community in 2019 by
attending Greeley Area Chamber of Commerce sponsored gatherings to talk with people about our low loan rates and the value of being member owned.
attending events in the Community: Stone Soup for Weld Food Bank; Chamber Annual Meeting, Success Foundation Breakfast, Comedy for a Cause for the Greeley Transitional House, Walk to end Alzheimer, and Walk for American Cancer Society.
having a booth at public events: Home and Garden Show, Children’s Festival, District 6 School Kickoff, and University of Northern Colorado sporting events.
attending any School District Orientation/meeting in which we are invited.
supporting Art Shows and sales from the talented artists at Envision.
changing our name to Weld Community Credit Union: New logo, new website, new nametags, new signage, new forms, new brochures, new rugs, new business cards, new folders, new debit cards, and new credit cards.
paying to wear jeans, we send a check to non-profits in Weld County 12 times a year!
hosting events: Member Appreciation Day, Annual Meeting, Shred Event, Cookies with Santa and Mrs. Claus.
providing grants to Educators for projects through the Jeri Cranwell Education Assistance Fund, over $127,000.00 has been given back the Weld County education community.
CEO Report 2020
As Bruce mentioned in his comments above, last year was a substantial year of progress. We took big steps forward in outreach and community involvement, and I want to point out that all of this came from the hard work of our staff, and the dedication of our volunteers serving on the Board and Supervisory Committees. Please let them know how much you appreciate them when you get the opportunity. These are truly great people to work with, and none of the progress we have seen could have happened without all of that work effort and confidence to push forward into changes with forward thinking.
While we had more improvements planned for 2020, Coronavirus shifted our primary focus onto keeping members and employees safe and healthy. This required services to move to the drive-up, internet and phone; and, it caused us not to see you at the member appreciation day, shred event, and annual meeting. We have missed you, and that only strengthens our commitment. The social side of our work is a key part of what drives us and leaves us dreaming about the future.
Thank you for being a member-owner of this great credit union! Stay safe and healthy.
As the ongoing coronavirus pandemic continues to disrupt life and cancel plans across the world, people are finding creative ways to celebrate. From drive-by weddings to birthday car parades to virtual graduation ceremonies, there are so many ways you can celebrate while still maintaining proper social distancing.
Let’s take a look at some of the ways you can commemorate life’s happier moments during the coronavirus pandemic. Party on!
Car parades
It’s like a drive-through safari, only instead of clusters of animals the guest of honor is the main attraction.
In what’s becoming increasingly popular around the country, Americans with reason to celebrate are inviting friends and family over to join in celebrations — from their cars. The hero of the hour stands outside their home and waves as guests drive by to offer their warm wishes and gifts. Sometimes, the inviter will offer pre-wrapped favors or packaged party treats to the parade of friends driving by.
Car parades have been happening to commemorate weddings, birthdays, graduations, baby showers and more. Often, the parades are a complete surprise and are organized by well-meaning family and friends who want to extend well-wishes and be part of the happy occasion.
In a fun twist, some people are theming their parades and having participants decorate their vehicles to match the theme. The hosts will sometimes decorate their own car and join the parade, and other times, they’ll deck out their home and lawn while having guests drive by in their decorated cars to wave and offer their good wishes. It can be a Star Wars-themed parade for the die-hard fan, a football-themed drive-by party for the aspiring athlete or a princess theme for the little girl who is passionate about pink.
Taking it outside
Some celebrations, especially those surrounding older people or the otherwise vulnerable, are taking place outdoors. Family members gather outside the home of their loved one for singing, playing instruments, holding up signs and shouting “I love you!” or “Happy birthday!” as the quarantined celebrity watches from the safety of their home. Some merry-makers will also use sidewalk chalk to scrawl their good wishes on the pavement near the VIP’s home.
For Kathleen Bryne of Syracuse, NY, the outpouring of love at her outdoor celebration was tangible, even from a distance. The nonagenarian, mother of seven, grandmother of 22 and great-grandmother of 29, celebrated her 95th birthday in March. When the coronavirus outbreak disrupted the family’s plans of a giant celebration, they moved on to Plan B. Cousins and siblings gathered on Kathleen’s front lawn to sing “Happy Birthday” to the matriarch of the family and to spell out “Happy Birthday” in balloons. The birthday girl was deeply touched.
A couple in NY took it a step further and got married outside — with the officiant conducting the ceremony from a nearby apartment, four stories above street level.
Another couple in Israel invited their neighbors to come out and join their wedding celebration — from the safety of their own balconies.
Elissa Labbie-Snyder turned her son’s birthday into a fun outdoor game. She asked friends to leave birthday gifts, messages, balloons and treats for her son around the neighborhood. When they were done, she took her son, Alex, out on a three-hour birthday scavenger hunt to find the hidden treats.
Zooming in
The videoconferencing platform that has become a household word since the it is now host to thousands of business meetings, classes, and long-distance visits each day. But some people are turning to the app to host their virtual celebrations as well.
For graduating students of the Organizational Studies program at the University of Michigan, their anticipated in-person graduation turned into a Zoom videoconference event thanks to the ongoing lockdown. The virtual ceremony featured presentations and awards you’d expect to see at a college graduation, including greetings from the program’s director and keynote addresses from selected students.
To turn a Zoom event into a shared experience, Swasti Sarna, insights manager at Pinterest, suggests that all participants decorate the space being used to host the party so it feels more festive. She also recommends creating a program so the party is more than just a screen full of faces trying to keep up with an animated conversation. The program can include virtual games everyone can play together, like Psych or Jackbox Games, and a shared menu of homemade or takeout food that everyone can enjoy at the same time.
Some Zoom party hosts have upped the ante by mailing out a package ahead of the party with instructions to open them at the event. The party boxes can include a cupcake, party favors and/or a DIY craft kit for all attendees to create together.
Another great idea is for guests to send gifts ahead of the event for the host to open while everyone watches.
The rules of the game may have changed, but the milestones that make life go on can’t be stopped by a global pandemic. Here’s to continued celebrations of all of life’s most precious moments.
Your credit score is made up of three numbers, serving as an
indicator of your financial history, wellness and responsibility. These three
little numbers can spell the difference between approval and rejection for a
mortgage, a job, a rental unit and so much more.
We have outlined how your credit score is calculated, why it matters and steps you can take to improve your score.
How is my credit score calculated?
There are three major credit bureaus in the U.S.: Experian,
TransUnion and Equifax. Each one collects and shares information about your
credit usage with potential lenders and financial institutions. Most lenders
use this information along with the FICO scoring model to calculate your credit
worthiness. Some lenders use the VantageScore model instead of FICO.
While there are several slight differences between the FICO and the VantageScore formulas, both scoring models look at the following factors when calculating your score:
The age
of your credit. How long have you had your oldest credit card? When was
your first loan? An older credit history generally boosts your score.
The
timeliness of your bill payments. Are you paying all of your monthly bills
on time? Chronic late payments, particularly loan and credit card payments, can
drastically reduce your score.
The ratio
of your outstanding debt to available credit. The VantageScore formula
views consumers with a lot of available credit as a liability, while the FICO
formula considers this a point in your favor.
The
diversity of your credit. Lenders want to see that you have and have had
several kinds of open credit. For example, you may be paying down an auto loan,
a student loan and using three credit cards.
The
trajectory of your debt. Are you accumulating new debt each month, or
slowly working toward paying down every dollar you owe?
Your
credit card usage. Financial experts recommend having several open credit
cards to help boost your credit score, but this only works if you actually use
the cards and pay off your bills each month. It doesn’t help much to have the
cards sitting in your wallet.
How does my credit score affect my life?
Your credit score serves as a gauge for your financial wellness to anybody who is looking to get a better idea of how responsible you are with your financial commitments.
Here are just some ways your credit score can affect your
day-to-day life:
Loan eligibility. This is easily the most common use for your credit score. Lenders check your score to determine whether you will be eligible for a loan. The larger the loan, the stricter the requirements. A poor credit score can hold you back from buying a house, a car, or getting a personal loan at Weld Community Credit Union.
Interest rates on loans. Here too, your credit score plays a large role in your financial reality. A higher score can get you a lower interest rate on your loan, and a poor score can mean paying thousands of extra dollars in interest over the life of the loan.
Employment. A study by the Society for Human Resources Management found that 47 percent of employers look at the credit scores of potential employees as part of the hiring process.
Renting. Many landlords run credit checks on new tenants before signing a lease agreement. A poor credit score can prevent you from landing that dream apartment or it can prompt your landlord to demand you make a higher deposit before moving in.
Insurance coverage. Most insurers will check your credit before agreeing to provide you with coverage. Consumer Reports writes that a lower score can mean paying hundreds of dollars more for auto coverage each year.
How to improve your credit score
If you’re planning on taking out a large loan in the near future, applying for a new job, renting a new unit or you just want to improve your score, follow these steps:
Pay your bills on time. If you have the income to cover it but find getting things paid on time to be a challenge, consider using automatic payments.
Pay more than the minimum payment on your credit cards. Your credit score takes the trajectory of your debt into account. By paying more than just the minimum payment on your credit cards, you can show you’re working on paying down your debt and help improve your score.
Pay your credit card bills before they’re due. If you can, it’s best to pay your credit card bills early. This way, more of your money will go toward paying down your outstanding balance instead of interest.
Find out if you have any outstanding medical bills. You may have an unpaid medical bill you’ve forgotten about. These can significantly drag down your credit score, so be sure to settle any outstanding medical bills as quickly as possible.
Consider debt consolidation. If you’re paying interest on multiple outstanding debts each month, you may benefit from paying off your debt through a new credit card that offers an introductory interest-free period, or from taking out a personal/unsecured loan at Weld Community Credit Union. This way, you’ll only have one low-interest or interest-free payment to make each month. (Note: If you’ll be applying for a large loan within the next few months, it’s better not to open any new cards.)
It’s crucial that you make the effort to improve and maintain your credit score. It’s more than just a number; it will impact your financial wellness for years to come.
GoodRx promises robust savings on all your medications. There’s no need to share your email address, phone number or even Facebook account to enjoy the advantages of GoodRx. Just download the app, search for your medication and start saving money today! GoodRx claims to save Americans an average of three billion dollars a year on medication costs.
Best features
GoodRx discounts are accepted at 70,000 pharmacies nationwide, including major retailers like Costco, Kroger, Wal-Mart, CVS, Rite Aid and Walgreens. On average, GoodRx also offers the steepest discounts on medications compared to competing apps. It does an especially great job at highlighting $4 generics and select medications that are completely free with membership status. The paid version of the app, GoodRx Gold, promises to save users 90 percent on most drugs, offering 1,000 medications for less than $10. At $5.99/month for individuals and $9.99/month for up to six family members, including your pets, the premium version of the app is generally worth the price for users with chronic conditions requiring ongoing medication. GoodRx Gold also offers online physician consultations for just $10, so you can get that script without a traditional doctor’s visit.
Glaring Glitches
GoodRX’s most glaring issue seems to be its failure to consistently deliver as promised. While the app’s commercials will have you believe you can easily save 80 percent off most prescription drugs, many users complain that the actual savings they ultimately enjoyed through the app amounted to far less. Some users also dislike the app’s interface, calling it clumsy and dated.
SingleCare
Like GoodRx, SingleCare promises steep savings on your medications. There is no membership fee or sign-up information required to download, and there is no paid, premium version of the app.
Best Features
Users love SingleCare’s sleek and modern interface, which makes it a pleasure to use.
Glaring Glitches
With just 35,000 participating pharmacies across the
country, SingleCare can be used in only about half the number of pharmacies as
GoodRx.
Users also found that SingleCare’s savings tended to be less significant than those offered by GoodRx. It’s important to note, though, that this is not a hard and fast rule, and that SingleCare’s discounts are sometimes steeper than those offered by GoodRx.
RxSaver
RxSaver, formerly called LowestMed.com, is another free discount prescription finder owned by coupon giant RetailMeNot. With savings on thousands of meds and acceptance at 60,000 pharmacies across the country, RxSaver is a favorite among many prescription-fillers.
Best Features
The RxAdvocacy Program, the premium version of RxSaver, offers thousands of dollars in savings on expensive drugs. You’ll need to pay $50 a month and register for The RxAdvocacy Program. But, for individuals relying on expensive ongoing medication that is not fully covered by insurance, this can be a great money-saver. RxSaver also features an attractive, updated interface.
Glaring Glitches
When you input medication info into the app, RxSaver will only show you its preferred pharmacies and prices. You’ll need to click a “see more” button to view the medication info at other pharmacies. This extra step can mean missing out on some of the best prices in your neighborhood. RxSaver also consistently fails to highlight free options available in users’ areas.
How they stack up
Note: When using an app primarily for saving money, the most important factor when choosing one to use will be how much each app can help you save. Dozens of testers have tried these three apps, and most have found that GoodRx tended to offer the lowest prices on most meds. However, there were several meds that the other apps feature for half the price or less—and that medication may be the one you need. If you’re looking for a prescription app to help you save money on a medication you require on an ongoing basis, it’s best to test all three apps and see which offers the steepest discount on that particular medication.
The stimulus checks promised in the Coronavirus Aid, Relief
and Economic Security (CARES) Act are starting to land in checking accounts and
mailboxes around the country. The $1,200 granted to most middle class adults is
a welcome relief during these financially trying times.
Many recipients may be wondering: What is the best way to
use this money?
To help you determine the most financially responsible course of action to take with your stimulus check, Weld Community Credit Union has compiled a list of advice and tips from financial experts and advisers on how to use this money.
Cover your basic life expenses
First and foremost, make sure you can afford to cover your
basic necessities. With millions of Americans out of work and lots of them
still waiting for their unemployment insurance to kick in, many people are
struggling to put food on their tables. Most financial experts agree that it’s
best not to make any long-term plans for stimulus money until you can
comfortably cover everyday expenses.
Charlie Bolognino, CFP and owner of Side-by-Side Financial Planning in Plymouth, Minn., says this step may necessitate creating a new budget that fits the times. With unique spending priorities in place, an absent or diminished income and many expenses, like subscriptions and entertainment costs, not being relevant any longer, it can be helpful to reconfigure an existing budget to better suit present needs. As always, basic necessities, such as food and critical bills, should be prioritized.
Build up your emergency fund
If you’ve already got your basic needs covered, start
looking at long-term targets for your stimulus money.
“I would immediately place this money in my emergency fund
account,” says Jovan Johnson, CEO of Piece of Wealth Planning in Atlanta.
Emergency funds should ideally be robust enough to cover 3-6 months’ worth of living expenses. If you already have an emergency fund, it may have been depleted during the pandemic and need some replenishing. If you don’t yet have an emergency fund, or your fund isn’t large enough to cover several months without a steady income, you may want to use some of the stimulus money to build it up so you have a cushion to fall back on during lean times that are likely to come in the months ahead.
Pay down high-interest debts
According to the Federal Reserve Bank, Americans owed a
collective $930 billion in credit card debt during the fourth quarter of 2019.
Using some of your stimulus check to pay off high-interest debt would be a
great way to get a guaranteed return on the money, says Chris Chen, of Insight
Financial Strategists in Newton, Mass.
This advice only applies to credit cards and other private, high-interest loans. The federal government put a 6-month freeze on most student loan debts, so they should not be as high a priority right now.
Boost your savings
If your emergency fund is already full and you’ve made headway on your debt, it can be a good idea to use some of the stimulus money to add to your Weld Community Credit Union savings account. The money in your savings can be used to cover long-term financial goals, such as funding a dream vacation or covering the down payment on a new home.
Consider all your options before choosing how to spend your stimulus money. In all likelihood, this will be a one-time payment received during the pandemic. If you need further assistance, feel free to reach out to us at 970-330-9728 or admin@weldccu.com. We’ll be happy to help you maintain financial stability during these uncertain times.
“Stress hormones strain the immune system so it can’t do its best at protecting us from those nasty bacteria”, says Dr. Tammy Born of the Born Clinic, Grand Rapids, Mich. “Reduce the amount of stress in your life by practicing mindfulness, keeping in touch with friends and family through virtual means while social gatherings are restricted and by checking the news less often while the pandemic rages.”
2. Get Enough Shut-eye
Adequate sleep helps keep your immune system strong and proficient at fighting off illness, according to WebMD. Aim for 7-9 hours a night to give your body the best fighting chance against foreign invaders.
3. Boost Your Vitamin C Intake
For decades, vitamin C has been touted as the ultimate protection against the common cold. While there is no evidence that vitamin C can ward off COVID-19, it will build up your immune system and help it fight the virus, says Dr. Born. The vitamin also helps you maintain healthy skin, which can serve as a barrier against infection. You can boost your vitamin C levels by eating plenty of citrus fruits, strawberries, kiwi and broccoli.
4. Take Zinc Supplements
Zinc helps the body’s white blood cells fight off infection. Consequently, a zinc deficiency can make people more susceptible to colds, the flu and other viruses. Taking zinc supplements now can be a good idea, says Dr. Born, just make sure not to take more than the maximum recommended daily amount of 40 mg per day so you don’t experience side effects.
5. Get More Vitamin A
Numerous studies have linked vitamin A deficiencies to weakened immune systems, particularly in warding off infections. Boost your body’s capacity to fight infection with these vitamin A-rich foods: egg yolks, dairy products, mango, broccoli, peaches, butternut squash, carrots and sweet potatoes. Stay Safe!
Not sure? Any of these circumstances can make a refinance a good idea:
Your Credit Score Improves
If you’ve been on time with your loan payments for several months, your credit score has likely improved. Refinancing when you have a better score can drastically cut your interest rate.
You Didn’t Shop Around Initially
If you’ve never shopped around for a car loan, do it now. Using the car dealer’s lender can mean being stuck with a rate that’s higher than what you’d get at the credit union.
Your Financial Situation Changes
If your finances have improved, you can shorten the life of your loan and pay more each month. If money is tight right now, consider refinancing to a longer-term loan for a lower monthly payment.
If you’re feeling stuck in your car loan, a refinance may be
the answer!
We compete to beat! Call today and talk with our loan experts! (970) 330-9728
The gentle breezes and longer daylight hours inspire a wave of deep cleaning and decluttering — and it’s time you joined in or ramped up your efforts. This spring, don’t just clean. Make money off your junk by selling your unwanted stuff via online selling sites and apps.
As you clean out your closets and start weeding out all the stuff that’s hopelessly out of style or you’ll never fit into it again, make a pile of your nicer things that are still in great condition to sell on ThredUp. The site is geared toward better secondhand clothing, and everything you try to sell will have to meet its standards.
If you’re ready to sell on ThredUp, let the site managers know, and they’ll send you a “Closet Cleanout Bag” to pack it all up. If your clothing is worth less than $60, they’ll pay you for it as soon as they’ve processed it in their warehouse. If you have some designer clothing worth more than $60, you’ll be reimbursed when the item is sold through the company’s site. Use the money you make on ThredUp to shop on the site, or have ThredUp send you cash through PayPal.
Whether it’s your clunky old jewelry you can’t stand any
longer or holdovers from a past marriage, there’s a way to get rid of it all
and earn some good money while you’re at it. Worthy.com will sell your old
rings, bracelets, necklaces and earrings made from gold or platinum, with or
without diamonds.
To sell on Worthy, you’ll have to send the company an image and description of the jewelry you want to sell, and it will evaluate it based on your description. Mail the piece with a prepaid shipping label, and Worthy will clean and photograph the piece, and then set a fair price for the item. Your jewelry will then be set up for auction on Worthy.com. If a bid you’re happy with is reached, the site will sell the jewelry and transfer the funds to you. If the bidding stays low and fails to reach the price you were hoping for, you can change your mind and ask to have your item back. There are rules you’ll need to follow with Worthy, so see Worthy.com.
Make Good Money Off Your Unwanted Furniture with Chairish
Your dated dinette set might be an eyesore to you, but there’s someone out there who will be thrilled to pay you for the honor of taking it off your hands. Chairish.com is an online public marketplace that specializes in used and vintage furniture in excellent condition. There is no price to list your items, and you’ll get to keep up to 80 percent of the selling price. You’ll set your own “reserve price,” or the minimum amount you’re willing to accept, which buyers won’t be privy to. Once a buyer makes an offer that matches this price or beats it, the offer will automatically be accepted.
Why not let your ancient furniture make someone else happy while earning you good money?
As you work your way through the clutter in your home, you might find one or more gift cards for shops and retailers you never frequent. Sell or exchange them on Giftcardgranny.com for up to 92 percent of their value.
Kids can outgrow their clothing and toys almost faster than you can buy them. Kid to Kid is a secondhand shop with locations all over the country that will give you cash or store credit for your child’s old clothing, toys, shoes, books, movies, costumes and school uniforms. You can even sell your maternity clothing and baby gear you no longer use, like strollers, high chairs, bassinets and changing tables.
If you can’t find a brick-and-mortar consignment shop near you, you can sell your outgrown baby and kids wear on Swap.com. Let the company know that you’re interested in selling, and it will send you a pre-paid shipping label to stick onto a box that you fill with your unwanted stuff. According to the site, sellers earn an average of $150 per box.
Sports equipment can cost a lot of money — especially when it’s for a game your child loses interest in after just one season. Make some of that money back by selling or trading your child’s unused sports gear at SwapMeSports.com. You’ll have to pay $5 to join the site for 30 days, but if you have decent stuff to sell, you should earn that money back several times over before the month is up. You can also buy gently used gear for your child’s current sports interest or donate your unused equipment to less-fortunate folks who can’t afford to purchase new or used gear.
With social distancing mandates in order until at least the
end of April, and three out of every four Americans under statewide lockdown,
huge parts of normal life have now moved into the virtual world.
Zoom App
Social visits, executive meetings, classes and more happen
over videoconferencing apps, with Zoom being the most popular. The app was
downloaded 62 million times during the third week of March, and 60 percent of
Fortune 500 companies are now using Zoom.
Zoom’s simplicity is likely the driving factor behind its popularity — and its vulnerability. The FBI is warning of a new kind of scam in which criminals join Zoom meetings with malicious intent.
Zoom-bombing
As they explain it, without protective measures, like
passwords and screen-share locks, anyone can join and disrupt a Zoom conference.
“Zoom-bombing” is happening more and more often, with hackers hurling racial
slurs or displaying graphic content in the middle of classrooms and business
meetings.
Some criminals take it one step further by creating bogus
domains that impersonate Zoom. When videoconferences are set up on these
domains, the hackers will use the opportunity to steal personal information
from meeting participants, which they then go on to sell or use for criminal
purposes.
Precautions
The bureau recommends that Zoom users take the following
precautions to protect their conferences from being Zoom-bombed:
Make meetings private by requiring a password or using the waiting room feature, which controls admittance of guests.
Share teleconference links directly with participants instead of posting them in a public forum, like a social media page.
Control screen-sharing by choosing “Host Only” in the screen-sharing options.
Make sure all participants are using updated software
Videoconferencing apps like Zoom are helping millions of Americans maintain a semblance of normalcy during the COVID-19 pandemic. Follow the FBI’s guidelines for secure videoconferencing to avoid getting Zoom-bombed. Stay safe!
