18 Oct

Planning for Retirement Now

Planning for Retirement Now

No matter what age you are, the time to start planning for retirement is now. If you have no idea where to start, or just want to review your current plan, we’re here to help. By following these few pieces of advice, you can take your retirement savings plan up a notch and start seeing the real difference that saving early can make.

Contribute to Your 401(k)

Contributing to your 401(k) is the simplest way to start planning for your retirement. Even if it seems impossible when you’re struggling to pay off student debt, pay rent, and just afford to eat, focusing on setting aside a small amount every paycheck and contributing it to your 401(k) can make a huge difference in the long run.

Another benefit, is that most employers offer contribution matches to your 401(k). Meaning the amount that you put in, they will match up to a certain percentage, usually 3%. This is essentially free retirement money, so take full advantage and contribute at least the maximum amount that they will match. You should start contributing to your 401(k) as soon as possible.

Open an Individual Retirement Arrangement (IRA)

There are two types of IRAs, traditional and Roth – both with advantages depending on when you would like your contributions to be taxed. A traditional IRA allows you to contribute up to $5,500 per year and grows, tax-deferred, until retirement. With a Roth IRA, you can contribute the same amount per year, but the money is taxed now instead of when you remove it at retirement. RMLEFCU offers both types of IRAs, so you can pick the account that best suits your retirement savings needs. Learn more about our IRA options here.

Be Wise with Your Investments

The younger you are, the more aggressive you can be with your investments as you can handle the ups and downs of the long-term market. The older you get though, you likely want to start choosing more conservative investment options with less risk. If you know little to nothing about investing, instead of trying to decipher the world of stocks and mutual funds by yourself, it’s wise to enlist the help of a professional. Here at RMLEFCU, we have a great financial planning department that is ready to help you plan for retirement and long-term success.

Plan an Emergency Fund

Now that you’re contributing funds toward your retirement, you may think that you don’t need to save anything else. In the case of an emergency though, you’ll want to have a separate account set up with a decent amount of money that can be used for unexpected expenses instead of putting large expenses on a credit card or, even worse, using retirement savings. By setting up a separate savings account with an ideal amount of about 3 months living expenses saved up, you can maintain peace of mind that you will be able to handle any unfortunate emergency that might come up. Sometimes cars break down and dogs need to visit the vet. RMLEFCU offers both regular and custom savings accounts to help you with your specific savings goals. Check them out and see which is the better option for you.

Give yourself peace of mind by looking at the big picture and planning for retirement sooner rather than later. You’ll thank yourself in the long run and probably not even miss the simple expenses you might have to cut back on today. If you need help getting started planning for retirement and would like to speak with one of our financial advisors, give us a call at (303) 458-6660 or visit our website for more information.

 

 

08 Sep

8 Ways to Protect Your Identity

8 Ways to Protect Your Identity

Having your identity stolen is not only unsettling, but can take years of frustration and red tape to fix. It will likely take a major toll on your credit score, wallet, and even well-being. To help avoid this nightmare from happening to you, we’ve compiled a list of the 8 best ways to protect your identity.

1. Protect your Social Security number.

This simple number can give thieves access to your credit reports, bank accounts, and a number of other pieces of important personal information. Don’t keep your Social Security Card on your person, in your phone, or anywhere it can be easily stolen. Your card should be stored in a secure location and digits kept a secret.

2. Use strong passwords and change them frequently.

Avoid using easy-to-guess passwords including birthdays, common phrases, and names of schools or workplaces. Strong passwords usually consist of a long combination of letters and at least one uppercase letter, number, and symbol. It is best to use different passwords for all accounts and change them frequently to avoid being targeted.

3. Monitor and review financial statements.

Periodically check the vendors and retailers on your credit and debit card statements to ensure you recognize them. Report any suspicious activity or charges to your bank or credit card company as soon as possible.

4. Destroy records and credit card statements.

Make sure you shred documents containing sensitive information and, if you are keeping hard copies for your records, store them somewhere secure. Don’t throw away bank or credit card statements as they may contain private financial information that could be used by identity thieves.

5. Don’t fall for phishing scams.

Don’t give out personal information to unknown callers, in email, or to unfamiliar websites. These scams usually claim to be from a trustworthy company that you know, like a bank or popular company. It is always better to double check that an inquiry is legitimate by calling the company yourself and verifying before giving out any personal information.

6. Secure your mobile device.

Although phones are easy places to store information, avoid keeping passwords or important information in them, like bank account numbers or your social security number. Ensure the highest protection by locking your device with a passcode and don’t leave it unaccompanied in public places.

7. Check your credit report.

There are three major credit reporting bureaus that are required to give you one free credit report a year, each. Equifax, Experian, and TransUnion. Utilize them all and check your credit once every few months to keep up to date and review information. If you notice suspicious activity, contact your credit card company immediately.

8. Get Kasasa Protect™.

Worrying about identity and credit theft can be exhausting; that’s why we offer Kasasa Protect. Kasasa Protect is a comprehensive identity protection and restoration solution available to add to your RMLEFCU checking account. It provides you peace of mind by offering 24/7 credit monitoring, identity theft protection, restoration services, and more. Check out our account services to learn more and register today!

Although there are many more ways to protect your identity, by following these simple steps you can greatly decrease your risk of identity theft and fraud. It is better to be proactive in protecting your information than dealing with the headache of a stolen identity after the fact.

09 Jun

Conveniences of RMLEFCU

Conveniences of RMLEFCU

At Rocky Mountain Law Enforcement Federal Credit Union, members not only get to enjoy low rates and great service, but we strive to be on the cutting edge of banking technology. Take advantage of our many conveniences such as mobile and online banking, shared branching, courtesy pay, mobile check deposit, and more!

Online Banking

With RMLEFCU, your bank account is never more than a click away. Online banking is free, secure, and easy-to-use. Anywhere with internet access you can log on to your account to:

  • Access eStatements
  • View transaction history
  • Check account balances
  • Complete funds transfers
  • And more!

Another great convenience made possible by online banking is online bill pay. With your RMLEFCU checking account, set up one time or recurring bill payments to any person or business in the country.* This service is available 24/7 and will send email alerts directly to your inbox. No need to keep mailing the same check each month, set up bill pay and let your bills pay themselves!

Mobile Banking

With mobile banking, all your main transactions just got even easier to reach; in the palm of your hand! RMLEFCU mobile banking is fast, free, and secure for every member enrolled in online banking. With the mobile app (available for iPhone or Android) you can:

  • View account balances
  • Review history
  • Deposit checks
  • Transfer funds between accounts
  • Pay bills
  • Make loan payments

Don’t ever get to the checkout line, watch the total start to rapidly climb, and stress if you have enough in checking to complete the transaction. With mobile banking, you can quickly transfer the needed funds before the moment of truth – potential embarrassment avoided!

Shared Branching

Myth: Local Credit Unions are inconvenient because if you ever travel, you are out of luck if you need to visit a branch.

Myth busted! Rocky Mountain Law Enforcement FCU has 5,000+ shared branching locations in the United States.

RMLEFCU has joined with other credit unions around the world in a cooperative effort to bring you a new level of financial convenience. Through the CU Service Centers Network you can perform many of your financial transactions and obtain services even when you’re far away from your home branch!

As of February 2011, there are currently 190 credit unions in the State of Colorado participating in the Shared Branching program and 5,000+ locations within the United States. And that number is growing every day. We even have international Shared Branching Service Centers.

Isn’t it nice to know that you have easy access to your money when you are on vacation or if an emergency arises that takes you out of Colorado? Find a participating branch near you here or call 1-800-919-CUSC (2872).

Services Offered

Because a CU Service Center is a “shared” facility, members of participating credit unions can transact teller business, such as:

Some of these services may not be available at all locations.

  • Deposits
  • Withdrawals
  • Money orders
  • Transfer funds
  • 24-hour ATM access
  • Loan payments & advances
  • Balance inquiries on all accounts
  • Statement printouts on all accounts for the past 10 days
  • Purchase cashiers & certified checks

You can expect to pay a nominal fee* on the following items at service centers:

  • Service center checks
  • Checks deposited in excess of 10 checks
  • Money orders
  • Stop payments on counter checks
  • Notary service
  • Coin machine

NOTE: CU Service Centers may limit the amount of cash you can withdraw per day, regardless of RMLEFCUs withdrawal limit.

What You Will Need

You need these things when you visit a CU Service Centers Location:

  • Credit union name: Rocky Mountain Law Enforcement FCU
  • Your account number (without dashes)
  • A VALID U.S. Government issued picture identification with signature
  • Last 4 digits of your Social Security Number

Have these items ready to present to the teller. This will save you time and will help us with serving you. All transactions require identification because the CU Service Centers Network cares about protecting your identity and account information.

If you have questions regarding your account or transactions that were performed through the CU Service Centers Network, please contact us.

Courtesy Pay

Courtesy Pay is a free service that works as an emergency source of cash. If you do not have an Overdraft Protection Loan, Courtesy Pay will allow check, debit and ACH items to be paid by allowing your checking account to go into the negative, rather than returning the overdraft item.

Courtesy Pay will allow items to be paid up to $1,000. When paying the item, your checking account will go negative and you will be expected to pay the negative balance back within 30 days in addition to a fee of $28. This protects against mistakes made, or if you simply overdraw your balance. Courtesy Pay prevents collection agency fees and other associated fees and may help clear an important item such as a house payment.

Mobile Check Deposit

Deposit checks without ever setting foot in a branch! Mobile deposit uses your smartphone camera to make deposits in just a few quick clicks. No changing out of your sweats or human interaction necessary.

It’s free, secure, and easy to use. Save yourself some time — take advantage of this convenient mobile banking feature today.

  • Deposit checks anytime, anywhere from your mobile phone
  • Free service for customers with a Rocky Mountain Law Enforcement FCU checking account
  • Save time and avoid unnecessary trips to a branch
  • Deposit your check in just a few quick clicks.

Getting started is easy! Simply download the app for iPhone or Android and follow these steps:

  • Take a picture of the front and back of your check, following the on-screen instructions (make sure you sign it)
  • Select the checking account into which you want to make the deposit
  • Enter the check amount
  • Verify that everything on the screen is correct, then hit “Submit”
  • We’ll confirm that the check has been received

Apple Pay/Samsung Pay/Visa Checkout

Carrying around a wallet full of plastic can put in quite a bind if that wallet is lost or stolen. Connect your RMLEFCU checking account to a mobile payment app such as Apple Pay, Samsumg Pay, or Visa Checkout and have your virtual “debit card” password protected! A huge number of stores and restaurants now accept mobile payments, so you can leave the plastic at home.

Make banking easy, and dare we say it, fun. With RMLEFCU’s many convenient ways to bank, there is no need to fight traffic or even get dressed to perform your basic CU transactions.

*Some restrictions apply. Alimony, court, and certain government payments may not be made using the online bill pay service.

06 Mar

Share your story to win #KasasaProtect™

The Denver metro area was recently home to a shocking case of identity theft. This past December an Aurora woman’s credit card was used to buy four motorcycles, a Corvette, and thousands of dollars worth of merchandise at Home Depot, Sears, and Best Buy. The woman was alerted about the ID theft when the couple attempted to finance another Corvette!

Not every thief is as brazen as this one. Whether a thief plans to use your financial information for flashy purchases or a large number of smaller transactions that don’t seem as suspicious – you need someone – or better yet – a team of many – to help prevent identity theft and restore your confidence if your information gets into the wrong hands.

Ok, but tell me about the contest already!

Rocky Mountain Law Enforcement Federal Credit Union is sponsoring a contest to win one year of Kasasa Protect™ Fraud Protection for free! The contest runs from March 1st through the 15th. Simply share a photo or video of something or someone you protect and use the hashtag #KasasaProtect to enter. Kasasa Protect™ is a comprehensive identity protection and restoration solution available to RMLEFCU account holders.

What can Kasasa Protect™ do for me?

Kasasa Protect™investigates on your behalf. How? Kasasa Protect™performs Dark Web monitoring by scanning millions of international sources in real time. They also quickly pinpoint stolen data that could identify you, such as a social security number or medical identification numbers.

Kasasa Protect™steps up to bat when your personal identifying information is compromised. How? Say you’ve lost your wallet. One convenient point of contact will handle cancellation and replacement of all your important documents

Restoration through Kasasa Protect™ includes: your cards, licenses, social security cards, insurance cards, passports, military IDs, and even traveler’s checks.

To learn more click here.

Finally, go to RMLEFCU’s Facebook page and post your video or picture soon so you can rest easy knowing Kasasa Protect™ will safeguard your financial info!

Best of luck!

18 Jan

5 Financial Milestones to Hit in 2017

Financial milestones are goals we aim to achieve. Some should be stressed at certain milestones in our own life. In this vein, we picked five financial goals you may have depending on your current age.

Are you just entering workforce?

Start saving for retirement

If you can stand to, save 10% of your salary. The earlier you start doing this, the more you can take advantage of compound interest. If you’re a woman, chances are you will live longer (sorry boys), so try and factor that into your retirement savings. Although you may be receiving a pension if you joined the force, it might not be enough for you to live on entirely.

You’re in Your Mid-Twenties

Set up an emergency fund

Save to be able to cover all your expenses for 6 months if you’re single, three months if you’re married. Start by adding $100 a month to a separate account. You can set up an automatic withdrawal from your checking account to help build your emergency fund. Read More