Simple Cents

Disco down to your local credit union branch today!

Kevin Kosco — Tue, 21 Sep 2010 09:45:58 -0400

For those who remember, the early 70’s fashion trend for men started with long hair, frayed bell bottoms, and very wide ties.

As the decade progressed, this trend gave way to the disco-inspired leisure suit made of some non-breathable, synthetic material. In retrospect, fashion trends seem to fade in…and then out…in what seems like an instant. Do we think that online banking will follow the same “here today, gone tomorrow” trend?

All indicators are no. Most industry analysis shows that Online Banking and Payment Manager (South Carolina Federal Credit Unions online bill pay service) continue to grow in adoption among consumers. According to Fiserv's 2010 Consumer Billing and Payment Trends Survey, these online services are growing at a faster pace than the Internet. The survey also found that online bill payment users now represent a broad demographic in age and income.

Of course, if you follow my posts, you know that I’m an avid proponent of Online Banking and Payment Manager. Are you? If not, why not take the online challenge this month: Just stop by one of our South Carolina Federal Credit Union Branches and ask for a demo of Payment Manager. In fact, bring a bill with you. Maybe an electric or phone bill. Your friendly Branch Service Representative will be glad to show you how easy it is to pay that bill in just seconds. They’ll also explain how this service is SECURE and FREE for credit union members.

Many of us still have some of those old fashion icons buried deep in our closets. Memories from years past. For me, it’s my maroon leisure suit. Have you adopted 21st century banking best-practices like Online Banking and Payment Manager? If not, then grab a bill, put on that old leisure suit and disco down to your nearby credit union branch today.

Reflections from a Day of Caring

Kevin Kosco — Fri, 17 Sep 2010 08:55:27 -0400

To close out this week, some reflections on the Day of Caring from two South Carolina Federal Credit Union team members, Kimberly and Linda:

This year we had the opportunity to participate in the Day of Caring sponsored by Trident United Way. Our task for the day was to assist at the Lowcountry Orphan Relief (LOR) Clothes Closet.

LOR is a non-profit organization that provides clothing, books, toys and school supplies to children who have been victims of abuse or neglect. Those of us who volunteered from the credit union were tasked with sorting clothes, organizing books and preparing orders to be delivered to children.

All of the credit union volunteers at LOR were mothers and our feelings about our experience were the same: Working at LOR allowed us to see firsthand what goes on behind the scenes to help children feel loved and taken care of in some of the worst of situations. We all understand the need to provide love and affection to children so they feel protected and cared for. The children associated with LOR don’t have many things to call their own. Our hope is that these bags containing new clothes and a stuffed animal provide comfort to a child who has been through a difficult situation.

Because our experience at this Day of Caring brought the issue of child welfare to the forefront of our minds, we all worked together to fill as many orders as possible during our time at LOR, which, in turn, would help as many children as possible.

The six of us that volunteered pledged to come back to LOR to work with the ladies running the organization. We all enjoyed our experience and look forward to volunteering at Lowcountry Orphan Relief again in the near future.

A new Day of Caring

Kevin Kosco — Tue, 07 Sep 2010 11:31:18 -0400

As Beth mentioned in her blog post, Trident United Way's Day of Caring is next Tuesday, September 14. Like the other bloggers here at SiMPLE CENTS I was looking for the right volunteer project. I think I found it at the Lowcountry Food Bank.

A group of us have volunteered to help tidy up their “urban garden” and do some planting. The Lowcountry Food Bank is one of those organizations that really does some good works in our community, as I’ve mentioned in a previous post. And, as you can see from a recent post, this kind of digging in the dirt is right up my ally.

But, I have to admit, this type of volunteering is not. Before coming to work at South Carolina Federal Credit Union, my employer (a large phone company) was not too interested in participating in these types of community volunteer events. Last year I had a schedule conflict so I could not participate in that Day of Caring.

So I’m really looking forward to next Tuesday. I suspect the weather will still be hot and we’ll be digging in the dirt, so it’ll probably be a real “hands on” day but, as I’ve blogged about in the past, a little hard work never hurt anyone. Why not join me at this event or sign up for another. And be sure to check back next week for an update - along with pix - from our Day of Caring.

A Gold Watch and the American Dream?

Kevin Kosco — Tue, 31 Aug 2010 09:44:36 -0400

Things sure have changed. Way back when, folks would work for a company their entire life, retiring with a gold watch and a pension. We all know those days are a distant memory in the rearview mirror of life. But, for just a moment, I wanted to reflect on my grandfather and his labors on behalf of our family.

George Kosco was born in Slovakia in 1888. He immigrated to the United States via Ellis Island in 1904; eventually settling in Homestead, PA where he raised his family (my father was the third youngest of 10 children).

George worked 42 years with U.S. Steel Corp, one of the largest steel mills in the world. Homestead Steel Works produced 75% of all that steel that helped our country win WWII, and, after the war, this steel built skyscrapers in cities throughout the U.S.

Retiring with his steel mill pension and watch (pictured here), some would say that George lived the American Dream. My family would certainly agree that, as a result of George’s hard work, it afforded my father, and subsequently my family, the opportunity to further pursue the dream.

One big difference today is that most individuals (in the private sector) have to manage their own retirement planning unlike some workers with pensions decades ago. Despite this prolonged recession, the good news is that we still live in a country where folks with a strong work ethic and a sound financial plan can count on retiring in a modestly comfortable lifestyle. Gone is the gold watch, but would you agree the opportunities for those who don’t mind working hard, sacrificing, and planning, remain even today?

The Top 5 College "Must Haves"

Kevin Kosco — Mon, 23 Aug 2010 13:23:42 -0400

Wow, I must be getting older. I now have a whole group of family members – nieces and nephews – heading to (or back to) college. Being curious as to how the college ritual has changed since I went just a few years (or decades) ago, I reached out and asked what are the “must haves” when heading to college this fall:

Cell phone. This seems to be at the top of everyone’s list.
Bedding. Comfortable sheets and blankets. As my one niece explained, there’s a whole lotta sleeping going on between classes and, especially in a dorm room bed, you want to be comfortable.
Food. Snacks are critical at 4am when you are cramming for an exam, everything is closed, and mom’s well-stocked frig is hundreds of miles away.
Laptop: Seems as though the laptop goes everywhere, including class where they take notes, and, in many cases, actually record lectures so they can go back to review the material. Pretty cool.
Clothes. Lots of clothes. Why? To minimize the need to do laundry. Or, at least until you can go home for the weekend and have mom do a couple loads for you.

There you have it! The definitive 2010 college “must have” list. Perhaps it didn’t make the TOP 5, but the backbone of all these items is MONEY! My nieces and nephews also shared the importance of having a debit card and access to cash at no-fee ATMs. South Carolina Federal Credit Union can certainly help. And, if you're going to school out of this area, take your credit union checking account with you. Just follow this link to find 28,000 surcharge free ATMs in the US.

If one of your “must haves” for heading to college didn’t make the above list, please share.

Connecting with a Credit Union

Kevin Kosco — Tue, 17 Aug 2010 09:59:46 -0400

I watch a fair amount of TV. Yes, I admit it. But I'd like to believe I’m somewhat selective about what I watch. No Dancing with the Stars for me! I’m into more substantive programming, like Big Brother, Survivor and other reality TV. OK, but I balance it with cable news, plus ESPN and the Discovery Channel. Also included in my channel surfing are personal financial help shows like Clark Howard and Suze Or man. Yes, sometimes even Suze Orman.

Throughout this year, Clark, Suze and others have at least one thing in common: they are strong proponents of credit unions. Not a week goes by without one of them mentioning the many benefits of being a credit union member.

As we look towards the future, it’s a certainty that “banking” will be undergoing significant changes, due, in large part, to the new financial regulations and oversight legislation passed by Congress this year. Interestingly, most of the financial pundits will point to these changes as just another reason to join a credit union. In this brief blog post I’m not going to bore you with a laundry list of why credit unions are better than banks. Chances are, most of our readers are already credit union members. However, if you are not, or have a family member who is not a credit union member, why not email them the link to this blog post?

Even though we’re confident you trust your SiMPLE CENTS blog team, we’re realists and understand that a strong credit union recommendation from Clark or Suze carries even more weight!

For the premie babies

Kevin Kosco — Tue, 10 Aug 2010 10:17:38 -0400

Walk into any South Carolina Federal Credit Union branch and you’ll notice those little Children’s Miracle Network (CMN) balloons have started to appear. Any of the folks in a branch will offer to talk with you about South Carolina Federal’s commitment to CMN and will be glad to tape up a balloon on behalf of your donation.

Earlier this week the branch managers agreed to help us convey the spirit behind the CMN fund-raising effort by creating short videos starring their very own branch team members. Wow! We certainly have some creative and talented folks here at South Carolina Federal! We had a bunch of videos to choose from, but think this one from the folks at our Shipyard Branch really stands out (and has a catchy tune that I know I've heard somewhere else!).

For the premie babies from South Carolina Federal on Vimeo.

Thanks again to all our credit union branches for participating, and for all their efforts to raise funds for MUSC Children’s Hospital and Palmetto Health Children’s Hospital. Thanks especially to our credit union members who are always so generous with their donations.

Checking in with the Nodes Family on back-to-school preparations

Kevin Kosco — Tue, 03 Aug 2010 11:33:18 -0400

Around this time last year I wrote a blog piece about my neighbors and their commitment to eating healthy, within a budget. Though healthy eating remains a priority with the Nodes family, back-to-school preparations are now a prime focus, especially with all three boys gearing up for school. This week I decided to check in with Lee Nodes to find out how her back-to-school planning is going.

Clothes, school supplies, and tuition. Just three of many things Lee is focused on as she prepares to send the kids back to school in the coming weeks. (Note: the Nodes have one son starting first grade and three-year-old twin boys starting K3).

In talking with Lee, she says her back-to-school savings planning actually began last spring (at the end of the school year) when she would keep an eye out for clothing bargains. And, with all boys, she makes active use of the hand-me-down clothing plan.

School supplies are a big deal. Gone are the days (way back!) when you could pick up a couple pencils, erasers, and Crayons. Today, Lee says, the school provides lists of required supplies. K-Mart or Wal-Mart seem to be the definitive stores for buying this type of merchandise at rock-bottom price.

Finally, tuition (for the twins in K3): Lee shared information about how the family budgets for this via Lee’s husbands Flexible Spending Account. Way to much detail for this blog, but, because of the pre-tax advantages with this account, the Node’s save more than $100/mo. There’s lots of administrative follow-thru, but Lee strongly recommends taking advantage of Flexible Spending Accounts if offered through an employer.

As if managing all this wasn’t time-consuming enough, Lee runs a very successful photography business on the side (“in her spare time” she says!).

After talking with Lee, it’s clear that she is extremely organized in her back-to-school planning. Many folks who may be reading this probably have their own back-to-school organizational plans. Perhaps you’ll share some of your secrets.

My Traveling Debit Cards’ Secret Diary

Kevin Kosco — Tue, 27 Jul 2010 08:00:00 -0400

When the summer thermometer hits 100 degrees here in the low country, folks head for the pool, the beach or their boats. My Traveling Debit Card had other plans a couple weeks ago: He was looking for even cooler temps so he headed North. Upon return, I peeked into his diary and thought I’d share some highlights from his adventure:

Friday: Airline tickets, check. Luggage (although I travel light)…check. Debit Card...of course. All set to depart Charleston for the cool Mystic, Conn. seashore made famous by the 1988 pizza movie starring Julia Roberts.

Saturday: Had a great time touring the seashore area. Bought lots of gifts for my friends back home. Had lunch at the world-famous Mystic Pizza. Looked around for Julia Roberts, but to no avail.

Sunday: Flew back to Charleston. On the way purchased some more gifts and lunch. EZ with me (ie, the debit card).

And there you have it. A little insight into the adventures of my Traveling Debit Card, as excerpted from his diary.

By the way, we’re in the process of rolling out mini-diaries for YOUR traveling debit card. It’s a little card register in which you can secure your debit card and track transaction amounts and descriptions. Want an advance copy? Email me (kkosco@scfederal.org) with your name and address and I’ll send one out. Then your debit card can create its own personal travel journal!

Mid-year SMART goal checkup

Kevin Kosco — Tue, 20 Jul 2010 08:51:10 -0400

Can you believe we are at the mid-point of 2010 already? Time to pause and take a look at how we are proceeding with our SMART goals.

In my previous two posts on this subject, one back in December 2009, and again in April 2010, I attached specific goals to each SMART letter (S=Secure, M=Mobile, etc). In the interest of time, and as a courtesy to my readers today, we’ll dispense with the grammatical theatrics.

Instead, I'd like to take a moment to remind readers that online banking continues to see significant month-over-month increases in user adoption across the fruited plain. Here in the low country, South Carolina Federal Credit Union continues to see more and more members opting to take advantage of online banking. Members are using it to access information when it’s most convenient for them. They recognize the security of online banking. Many members know how convenient it is to pay bills online…in just minutes! And we're getting lots of great feedback on eStatements. The same look and value of a paper statement, but delivered online.

It’s worth noting that members of South Carolina Federal are now accessing online banking via our brand new website scfederal.org. Once you enter online banking from the website, it’s the same functionality you are used to seeing. Haven't clicked around our new scfederal.org site yet? Why not take a couple minutes today since the new website is full of new information and functionality.

Are Online Banking, Payment Manager, and eStatements delivering on the promise of Life Simplified for you? As part of my mid-year checkup, Kevin the service guy wants to know!