Personal Branch Upgrade Affects Web PFM Solutions Like Mint.com

While Utah Community Credit Union took a giant leap forward with the latest Personal Branch upgrade, some members are unfortunately experiencing frustration with non-UCCU personal finance management (PFM) solutions.

To understand what’s broken, it helps to understand how solutions like mint.com work. Mint.com (and similar solutions like YNAB, Yodlee, etc) uses your Personal Branch credentials to login to www.uccu.com and “screen scrapes” UCCU’s online banking. A screen scrape is a delicate process that requires text data to reside in specific locations within a page. If a page changes, even slightly, the entire screen scrape process can break. We have provided mint.com with our new page specifications and asked them to update their screen scrape.

We understand how disruptive an outage of this nature can be. At Utah Community Credit Union we take pride in offering our members the very best in service and convenience. We are working with mint.com and others to ensure that the issue gets resolved.

While the issue with mint.com and similar outside services is addressed we encourage you to log on and enjoy the exciting and powerful new features of Personal Branch.

We appreciate you being a Utah Community Credit Union member, and thank you for your patience as we make these exciting new online banking tools available to you.

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ATTENTION: Personal Branch will be unavailable 7/14

Personal Branch Online Banking will be unavailable from 6:00 am Saturday July 14th until 9:00 am Sunday July 15th during our upgrade.

If you need assistance during the upgrade on July 14th UCCU will have Special Call Center hours from 9:00 am to 5:30 pm.

Call 801.223.8188 or toll free 800.453.8188.

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New Homebuyer Seminar

UCCU will be holding a home buyer class on Tuesday July 17th at 6:30 . This class will be about 45 minutes. A mortgage loan officer and realtor will be available for questions for an additional 45 minutes after the class.  This class will be at our Stadium office located at 1900 N Canyon Rd in Provo. Questions answered will be: how much can I afford, how much do I need for a down payment, what is the best loan program for me, can I qualify for any down payment assistance and much more. Please join us for this educational class. There will be drawing for prizes and light refreshments.

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How much do you need to buy a home?

Show me the money:

How to determine if you have enough to buy a home.

Owning a home is the American dream. But if the economic difficulties over the past few years has taught us anything it is that home ownership is not affordable or a wise option for everyone. The proof lies in the sub-prime loan debacle, when aggressive lenders convinced homeowners that they could afford homes–even when they had no money to put down or the necessary income to support the loan as interest rates increased. As a result, homes were lost, dreams were shattered and our economy was driven into the deepest recession since the Great Depression.

So how do you know if you can afford to buy a home? And how much money do you need? Ultimately, you know better than anyone whether you can afford a home. So before you listen to a lender who wants to sell you a loan, think about the following factors, which affect your ability to afford a home:

  • The price of the home you want. Prices vary considerably by the size of the house, its amenities, and the location. Determine what you really need for a home and shop around to see the price range.
  • Your employment history. Is your job situation steady? Do you have a strong work history? If you are unsure about the stability of your job, it is not a good idea to buy a home.
  • The down payment you have. Keep in mind that you will need to put between 3 and 20% of the sales price down. In general, the higher the down payment you can make, the easier it is to get a loan, and the better the interest rate is–which results in a lower monthly payment. In addition, most lenders will charge you Private Mortgage Insurance if you do not put 20% down, which will drive up your monthly payment.
  • How much can you afford? Experts say that you can generally afford a home that is about two-and-one-half times your annual salary. Utah Community Credit Union offers a free calculator at UCCU.com that can help you determine how much you can afford to pay.
  • Understand the relationship between rates and points. With most mortgages, you have the option to pay points to get a lower interest. A point is 1% of the amount you borrow. The more points you pay up front, the lower your rate will be. If you plan on owning the house for several years, it could be wise to pay points to get the best interest rate. The lower interest rate will save you more in the long run.

Any homeowner will tell you that there are many benefits to owning a home; however, the last thing you want to do is fall in love with and buy a home you simply cannot afford. Carefully review your budget as well as your job and financial situations to ensure you will be able to afford the home. You are the expert on what you can manage.

To speak with a knowledgeable mortgage professional about your unique situation, stop by any UCCU Branch nearest you.

Do not forget to check out the Home Buying Seminar at UCCU on July 17th at 6:30.

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Personal Branch Enhancements with Money Manager Coming July 16th!

Coming July 16th!

In our continuing efforts to provide you with the best online banking tools, we are pleased to inform you about our new Personal Branch budgeting solution called “Money Manager.”
Below is a list of some of the new features:

• Categorize Transactions

• View Spending with the My Spending Chart

• Add Notes and Memos to Transactions

• Budgeting Tools

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New Login Security TrueStampTM Security Image and Phrase

New Login Security changes You Need to Know regarding your Login to Personal Branch

UCCU is a leader in online banking security and has extensive safeguards in place to protect members from unauthorized account access. We have enhanced our login process to add an additional layer of security to protect members from the growing threats that exist on the web today.

This new enhancement, called TrueStamp™, will allow you validate that you are really logging into your account on UCCU’s website. The first time you login following the upgrade you will be asked to establish a personalized TrueStamp™ security image and phrase (see image below).

PERSONAL Branch: TrueStamp Security Upgrade

Setting up your TrueStamp™ is easy:

Step 1: Enter your username

Step 2: A new Screen will Appear and you will enter your Password

Step 3: Establish your personal security phrase

Step 4: Select the background image you would like to accompany your security phrase.

Step 5: Click ‘continue’ to finalize your TrueStamp™ Image and Phrase.

Each time you login after establishing your TrueStamp™ Security Image and Phrase, we will show you your personalized TrueStamp™ so you can have peace of mind knowing that it’s your account and UCCU’s website. If after entering your username you do not see your TrueStamp™ security image and phrase, please contact a Member Service Representative.

Also new inside Personal Branch – Money Manager Budgeting Tool

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New Login Security TrueStampTM Security Image and Phrase

New Login Security changes You Need to Know regarding your Login to Personal Branch

UCCU is a leader in online banking security and has extensive safeguards in place to protect members from unauthorized account access. We have enhanced our login process to add an additional layer of security to protect members from the growing threats that exist on the web today.

This new enhancement, called TrueStamp™, will allow you validate that you are really logging into your account on UCCU’s website. The first time you login following the upgrade you will be asked to establish a personalized TrueStamp™ security image and phrase (see image below).

PERSONAL Branch: TrueStamp Security Upgrade

Setting up your TrueStamp™ is easy:

Step 1: Enter your username

Step 2: A new Screen will Appear and you will enter your Password

Step 3: Establish your personal security phrase

Step 4: Select the background image you would like to accompany your security phrase.

Step 5: Click ‘continue’ to finalize your TrueStamp™ Image and Phrase.

Each time you login after establishing your TrueStamp™ Security Image and Phrase, we will show you your personalized TrueStamp™ so you can have peace of mind knowing that it’s your account and UCCU’s website. If after entering your username you do not see your TrueStamp™ security image and phrase, please contact a Member Service Representative.

Also new inside Personal Branch – Money Manager Budgeting Tool

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Rolling Over your IRA

To Convert or Not to Convert? That’s the Roth Question

Many investors may not understand the potential long-term advantages of converting tax-deferred retirement plan assets to a Roth IRA. This article focuses on factors to consider, such as current and future tax implications, avoidance of mandatory distributions, and weighing the current value of assets versus their converted tax-free growth potential.

http://www.ucinvestmentservices.com/newsletters.cfm

Curtis Willardson, CFP, CLU, Daniel O Palmer, and John Neuenswander are registered representatives offering securities and investment advisory services through Financial Network Investment Corporation, member SIPC. David Palmer is a registered representative offering securities through Financial Network Investment Corporation, member SIPC.  Utah Community Investment Services, Utah Community Credit Union and Financial Network are independent companies.  Registered address: 188 W. River Park Drive, Provo, UT 84604.

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UCCU Smart Cars

Inspiring Smart Decisions

Look for UCCU’s new Smart Cars in your local city celebrations! UCCU is dedicated to helping members make smart financial decisions, and to help children learn smart savings skills and habits with our BeMoneySmart Youth Banking Program.

For more information about BeMoneySmart visit BeMoneySmart.org.

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BeMoneySmart

UCCU’s BeMoneySmart Youth Banking Program is designed to assist in teaching children good money skills and habits. We are gathering testimonials from parents and children of all ages regarding the BeMoneySmart Program.

If you and/or your children would be willing to provide a testimonial please email bemoneysmart@uccu.com or call 801.223.7745.

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