Be Aware of the Latest Consumer Scams

The widespread use of mobile technology and social networking have increased the risk of financial fraud and identity theft.  While scammers are seemingly everywhere, consumers can do a lot to protect themselves, and it starts with being aware of the scams that are out there.

Checking Scams: One of the most prevalent scams that can lead to financial fraud or identity theft is account check and phishing cons.  Be alert to account checking scams in which a phony representative of a financial institution or supplier contacts you by phone or e-mail to ask for account details to update their records. Remember, do not give any personal information or debit card information to these individuals.

Online shopping threats: To avoid being yet another victim, online shoppers should always shop on safe sites that have SSL (a protocol for secure communications) certification, indicated by a locked padlock at the top of the screen and an ‘s’ in the address line (https://webaddress). 

Seasonal spyware: The number of malicious e-cards circulating to personal and business computers is expected to rise. Do not open an e-mail or attachment from an unknown sender and do not download ‘exe’ files as these often contain adware, unwanted downloads and spyware.

Beware of ATM skimmers: If you think someone is too close behind you or looking over your shoulder, find a different ATM.  Some skimming scams have involved fitting the front of an ATM with a false panel containing a small webcam or digital camera that can capture your card details. If the ATM appears to be behaving oddly or does not work the first time, go to a different machine; don’t try it again!

Protect your new laptop: If you received a new PC or laptop running on MS Vista or Windows 7 as a gift, make sure you are using anti-malware software and have enabled the firewall before connecting to the Internet.  Whether you are connected to a wireless network or via a cable, on average, it can take just nine seconds for your new laptop to receive its first ‘ping’ attack and less than a minute to receive its first virus.

‘Free’ Wi-Fi and wireless network hacking: If you are using that new laptop on a wireless network at home or workplace, make sure that network is secure.  This is because the Wi-Fi network range will radiate beyond the confines of your building, leaving it vulnerable to “wardriving” (the act of searching for Wi-Fi wireless networks by a person in a moving vehicle, using a portable computer so they can use your unsecured network for free).

Why Should You Avoid a Check Cashing Service?

If you have a checking account with us or another financial institution, you may wonder why anyone would go to a special service just to cash a check. There are two primary reasons: 1) they don’t have a regular checking account, or 2) They need a cash advance or short-term loan. Why should you avoid these places? Because they do exactly what a regular financial institution does but charge a whole lot more money.

Check cashing services would have customers believe they are actually cheaper than a typical financial institution, but it’s simply not true. Typically, they charge anywhere from 3 percent to 5 percent of the check just to cash it. So, cashing a $1,000 pay check would cost $30 to $50. Multiply that by 26 pay checks a year, and you’re paying between $780 and $1,300 to access your own money. That could be an extra mortgage payment every year, or vacation money, or just money to save for emergencies so you don’t have to use a credit card. If you have a free checking account with direct deposit, it costs you nothing to access your money, and you don’t have to go anywhere to do it.

Short-term loans are where check cashing services really make their money, though. Also known as pay day loans, these places typically charge $20 for every $100 borrowed. In theory, that loan should be paid off with the next pay check, but it doesn’t always happen that way, and debt mounts quickly. If it took a year to pay off that loan, you could end up paying 400% APR interest or more. That’s 20 times more interest than a high-interest credit card. If you can’t pay off the card, how will you ever pay off a 400 percent loan?

Some Alternatives to Consider:
Use overdraft protection as a short-term loan. Rates on our line of credit loans are low and we can deduct payments automatically on pay day so you pay off the loan faster.

Neighborhood also offers other simple interest loans when you need money for emergencies.  Quick Cash is our payday loan alternative.

Spend less and save more. We know it’s easier said than done, but you can do it if you make a budget and stick to it. Think about it. If you took that check cashing fee and had it automatically deposited from your pay check to a prize savings account every pay day, you would save up to $1,300 in a year.

BALANCE
If you’re really struggling to makes ends meet or your debt is out of control, take advantage of our free BALANCE program. BALANCE provides free financial counseling and education to help you manage your money, debt and credit score.

Always come to your credit union first for financial help. It will save you a lot of money and headaches down the road.

How Can You Stretch Your Entertainment Dollars?

Every family deserves a night out once in a while – even those with the tightest of budgets. Here are some tips for stretching your entertainment dollars.

Kids Eat Free
Restaurants across the Dallas/Fort Worth Metroplex have set nights when kids eat free. In most cases, they comp one child for each paying adult, but conditions vary. Click here for a fairly comprehensive list of restaurants and their rules, but don’t stop there. If your favorite restaurant isn’t on the list, call them. If your restaurant is on the list, but your city isn’t listed, call your location to inquire.

2 for $20

Chili’s and Applebees restaurants both offer special menus that enable two adults to eat for $20. At Chili’s, you get one appetizer to share, two dinner entrees and one dessert to share. Applebees gives you one appetizer to share and two entrees. Drinks are not included in the $20 price.

Movies

If you love the big screen but hate the big price, see the matinee. Both AMC and Cinemark offer $5 tickets across the board for any movie that starts before noon, any day of the week. If you sign up for their movie cards, a coupon for free or discounted refreshments is usually attached to the ticket. In the summer, both of these movie chains also offer free and $1 movies on set mornings. Schedules and details will be on their websites in the spring. Of course, you can always do a search for dollar movie theaters on Google.

Rent Movies

Family Video’s new releases are $3 or less for five nights. Family Video also has an entire kid section at every location with hundreds of FREE rentals  – no purchase necessary. Membership is free, and all rentals are half price the first month. After that, renew your half price option for $9.95 a month. Your local movie rental store may offer similar deals.

Movie Trading Company buys, rents and sells videos. Consider buying an older $5 DVD at Wal-Mart or Big Lots and trade it to Movie Trading Company when you’re done with it. Watch the one you got on trade, then trade that in, and keep the cycle going.

Netflix is the largest online movie rental service. Rent as many movies as you can watch starting at 8.99 a month. Blockbuster online offers a similar service for movie downloads. Blockbuster also offers unlimited video gaming starting at $15 a month.

Bowling

Register your kids at kidsbowlfree.com and get two free games per child all summer long at participating bowling alleys.

Coupons and Special Deals

Entertainment Pass Books are filled with hundreds of discounts on food, attractions, groceries and even travel. Plus, there are more deals online at entertainment.com. The 2010 books are now just $22.75 with free shipping.

Online merchants like adpages.com and restaurant.com offer steep discounts on restaurant gift certificates. Get $25 certificates for as low as $2 and feed your own family.

And, never overlook websites for your favorite restaurants and attractions. You can often get serious discounts by signing up for e-mail newsletters offers.

Cheap Places to Take Kids on a Three-Day Weekend

Everyone needs a vacation, but how do you do it when money is tight? Sometimes, you stay close to home. Sometimes you stay at home and take local day trips. Here are some ideas to help you get away without busting the budget.

State Parks
With over 90 state parks to choose from in Texas, there’s no end to the hiking, biking, swimming, fishing, nature trails and camping for the whole family to enjoy. Just $60 a year for a Texas State Parks Pass gets your vehicle, with as many people as it can hold, into any Texas state park for 365 days, plus discounts and coupons on camping facilities. Each park also has daily pricing.

For the state’s Parks Getaway online publication, click here.
For a map of the state parks closest to Dallas, click here.

Glen Rose, TX
If your kids love Dinosaurs and animals, this is the place to be. Glen Rose is a small city west of Fort Worth. It is home to Dinosaur Valley State Park, Dinosaur World and Fossil Rim Wildlife Center, to name a few. Explore dinosaur tracks, dig for fossils and more. Then, take a ride through a 9.5 mile safari park. Glen Rose is also home to accommodations that range from hotels and motels, cottages, rustic cabin and bed and breakfasts.

Grapevine, TX
>> Head to DFW International Airport or a nearby park to watch airplanes take off and land.

>> Spend a half day at the Bass Pro Shop. Watch their staff feed alligators and fish, and take part in their many free workshops and activities.

>> There’s a lot to do at Grapevine Mills Mall that doesn’t involve shopping. Catch a $5 matinee at the AMC Theater.  Head to the indoor skate park or the indoor ice skating rink. Visit the arcade. There are also specialty toy stores where kids can play for free.

>> Board the Grapevine Vintage Railroad and take a day trip to the Fort Worth Stock Yards.

>> Stay at home or find affordable accommodations here.

Fair Park
Home to the state fairgrounds, Fair Park has seven different museums and attractions, and most are kid friendly. Get a Fair Park passport and visit all seven museums for only $13.99 per child and $23.99 per adult. Plus, ride the swan boats, see native plants and flowers and so much more. Coming this summer is Summer Place Park - a state fair style midway open all summer long. Museums at Fair Park include:

• African-American Museum
• Museum of the American Railroad
• Museum of Nature & Science/TI Founders IMAX® Theater
• The Women’s Museum
• The Dallas Aquarium at Fair Park
• The Hall of State
• Texas Discovery Gardens
• South Dallas Cultural Center

Pick a City
Just about every city has something special to experience. Pick one you’ve never been to and Google it’s Convention and Visitor’s Bureau to find affordable deals. Another idea to hop aboard the DART rail, pick a stop and explore what’s there. You can do a lot on a small budget when you use a little creativity.