More Reasons to Love Being a Member of DoverPhila

Your credit union membership is about the trust and care of community, built around where you live, work, learn, and play. That’s why we’ve made it so that your DoverPhila Federal Credit Union membership saves you money through exclusive member only offers through our trusted partners. Through Love My Credit Union Rewards, credit union members have saved over $2 billion with offers like:

  •  $100 cash reward with each new line you activate with Sprint. Plus, existing customers earn $100 Annual Loyalty Cash Rewards, and 25% off select accessories in Sprint stores.

  • Credit union membership also saves you up to $15 on TurboTax federal products.

  • We want you feeling as safe at home as you do in our credit union. That’s why you can get an exclusive smoke communicator and a $100 gift card with a new ADT home monitoring security system. Just call 844-703-0123 to get this special offer through the Love My Credit Union Rewards Program.

  • Sometimes accidents happen, but credit union members enjoy special True Savings with TruStage Auto and Home Insurance.

  • Your credit union membership benefits go with you when you shop too! With Love to Shop, get member only cash back rewards from over 1500 online retailers.

Learn all about how your credit union membership gets you all these exclusive savings, and more at DoverPhila Federal Credit Union or LoveMyCreditUnion.org. Check them out and start enjoying credit union member benefits you never knew you had before.

DoverPhila Celebrates Youth Members

We often look at pictures to remember the past, but what about the future?

If you ask your children, they can likely picture a future they would like to live in. Some dream to become doctors and help people, others want to be known for their talents. For children and teenagers, the future brings limitless possibilities. But no matter what the dream is, financial education can be instrumental in helping achieve it.

DoverPhila Federal Credit Union knows that financial literacy is a crucial skill for people, but it is one that too few are learning. We believe that financially prepared youth is the key to a successful future, and that is why we are using April to celebrate our youth members.

The theme for this year’s youth celebration is “The future is yours… Picture it! Save for it! Share it!” To kick-off the celebration, we are hosting a Picture It! Save for It! Share It! Contest. The month-long contest that ends April 30th encourages members, 17 years old and younger, to submit vision board posters that consist of photos and illustrations that express their own financial goals/future. Submissions will hang in the lobby of DoverPhila Federal Credit Union’s main office on Fillmore Avenue in Dover. Winners receive a $50 deposit into their youth accounts.

Also in conjunction with this year’s youth celebration is Bonus Week. From April 22nd through April 27th, youth club members can receive a 10% bonus up to $10 on qualifying deposits made to their youth accounts. Each deposit made during this week is an entry into a DPFCU gift basket drawing.     

Please click here or contact a DoverPhila member service representative for details and rules regarding the youth celebration.

Five Ways to Pay Off a Loan Early

If you’re like most Americans, you owe money toward a large loan. Whether that means carrying thousands of dollars in credit card debt, having a hefty mortgage in your name, or making car loan payments each month – loan debt is part of your life.

It can all get kind of depressing—but it doesn’t have to be that way. You can pay off your mortgage, auto loan, credit card debt, and any other debt you’re carrying quicker than you thought possible with a carefully applied technique. These tricks won’t hurt your finances in any dramatic way, but they can make a big difference to the total interest you’ll pay over the life of the loan and help you become debt-free faster.

A note of caution before we explore these tricks: Check with your lender before employing any approach, as some loan types have penalties for making extra or early payments.

1. Make bi-weekly payments. Instead of making monthly payments toward your loan, submit half-payments every two weeks. The benefits to this approach are two-fold:

  • Your payments will be applied more often, so less interest can accrue.

  • You’ll make 26 half-payments each year, which translates into an extra full payment on the year, thereby shortening the life of the loan by several months or even years. If you choose this method with a 30-year mortgage, you can shorten it to 26 years!

2. Round up your monthly payments. Round up your monthly payments to the nearest $50 for an effortless way to shorten your loan. For example, if your auto loan costs you $220 each month, bring that number up to $250. The difference is too small to make a tangible dent in your budget, but large enough to knock a few months off the life of your loan and save you a significant amount in interest.

3. Make one extra payment each year. If you can’t make bi-weekly payments, but you like the idea of an extra yearly payment, accomplish the same goal by committing to just one more payment in the year. You’ll only feel the squeeze once (tax or bonus time, perhaps) and you’ll still shorten the life of the loan. You can also spread that extra payment throughout the year. Divide your monthly payment by 12 and then add that cost to your payments all year long. You’ll be making an extra payment while hardly feeling the pinch.

4. Refinance. If interest rates have dropped since you took out your loan or your credit has improved dramatically, contact DoverPhila Federal Credit Union to ask about refinancing, whether the loan is with us or not. Refinancing makes the most sense if it can help you pay down the loan sooner. You should easily be able to afford shortening the life of the loan with a lower interest rate.

5. Boost your income and put all extra money toward the loan. Cut the life of your loan short by earning more money and putting the extra cash towards your loan. Consider selling stuff on Amazon, moonlighting as a consultant, or taking on a side hustle. Even a job that nets you an extra $200 a month can make a big difference in your loan.


Triumph over your loans by using one or more of these tricks to make them shorter and pay less interest. Feel free to contact DoverPhila Federal Credit Union if you have questions about loan repayment or if you need a fresh perspective on debt repayment. Our free, on-staff financial counselors can help!

Cash Flow Budgeting: A Fast, Flexible Way to Fix Your Finances

You’ve heard it from a million places: Budget your money! Make a firm plan and stick with it. It’s the pathway to prosperity!

For many people, though, that advice just doesn’t resonate. They feel constricted by a budget. Keeping cash in separate envelopes makes them feel like they can’t have a life. It takes too much planning and too much rigid denial. They break their budget and sometimes wind up in serious financial trouble.

Other people have an inconsistent cash flow, making creating and keeping a budget difficult. Maybe they’re freelancers who work gig-to-gig. Maybe they’re in commissioned sales. Maybe their hours fluctuate from month to month. Whatever the reason, it’s hard to make a detailed plan when your bottom line changes every month.

The answer isn’t to give up on budgeting. The collective wisdom, that monitoring your expenses and income streams is the way to stability, still holds true. It might just require a different approach to budgeting: cash flow focus.

Cash flow focus is the strategy used by most businesses. They pay their fixed costs, and whatever is left is used to grow the business. You can manage your finances the same way. Just follow these four steps:

1. Automate your savings. Even if you disregard everything else in this article, implementing this one tip can be life-changing. Figure out how much of your income you can save, and then take that out as soon as you get paid. You can set up monthly transfers from your draft account to your savings account. You can also divide the money between the accounts on a per deposit basis. How you choose to do so is less important than doing so.

Like the saying goes, pay yourself first. This savings provides you the flexibility to cover big expenses or make major purchases on your schedule. It’s the single most important step in any budget, but it’s even more important with cash flow budgeting.

When you automate your savings, you remove the money you saved from consideration. You can’t spend it; you’ve already spent it on savings. The importance of this kind of savings will become more clear once you see this budget in action.

2. Pay your needs and your priorities. Make a list of your essential expenses each month. Include your rent or house payment, your car loan, and your utilities. Also include your student loan payments, your insurance, and other necessary expenses. These are your “fixed costs.” They get paid after your savings contributions are made.

Next, make a list of your priorities. Include your charitable contributions, vacation savings, and retirement account contributions. These are your “growth expenses.” They get paid after your fixed costs.

If you don’t have enough money to make these bills, you don’t need a better budget. You need to lower those bills or increase your income. No amount of spreadsheet magic will change that bottom line.

It’s helpful to automate savings for these expenses, too. That way, you never get caught short on these bills. Transferring this money to a check-only draft account can be a helpful way to ensure you don’t spend it.

3. Spend the leftovers. This message may sound peculiar for personal finance advice. Remember, though, that you’ve already automated your savings. What you’re spending here is the leftovers – the extra that’s left at the end of the month.

 Spend this money however you like – don’t worry about putting this much in entertainment and that much in travel. Just keep track of how much you’ve spent so you don’t accidentally overdraft your account.

This approach allows you to go out or indulge in a latte. You don’t have to worry about including it in your budget. Your spending habits might change as the month goes on, just like a business. If you know there’s a big outing before you get paid again, you may want to save some money for that. You don’t need to say that you can’t go because you didn’t budget for it.

4. Roll over what’s left. If you have worked in a big business, then you have seen departments desperately spending at the end of the fiscal year. Departments buy cases of pens and paper, knowing that they will lose whatever they don’t spend. Fortunately, you’re more flexible than a big business. You don’t have to spend it all. If you have money left over at the end of the month, then you have more to spend the next month.

If you have a month with slightly higher expenses, you can cover it from a previous month’s slightly lower expenses. Your spending will change from month to month, as might your income. So long as you keep the former smaller than the latter in the long run, you’ll be fine.

That’s what cash flow budgeting is about: flexibility. You don’t have to write your non-budgeted spending purposes in stone. You don’t have to mess with cash envelopes or other strategies. You can spend when you have money and save for when you don’t.

DoverPhila Federal Credit Union can help if you’re thinking about adopting a budget. A friendly, knowledgeable financial counselor can walk you through the savings tools you need. You can automate your savings, flex your spending, and build toward financial security. Members can call 330-364-8874 or stop by the credit union’s main office on Fillmore Avenue in Dover for more information.

Sticking to Financial Resolutions

Ohioans, like most Americans, entered 2019 hoping to better their finances, but many have likely already fallen off track.

In an Ohio Credit Union League 2019 consumer survey, 69 percent said their New Year’s resolution was to get on a budget. That statistic isn’t surprising; many Americans looked critically at their financial situations as they headed into 2019. Statista, a platform providing statistical data on a variety of topics, polled 2,000 people about their New Year’s resolutions in early January. The survey found financial goals were the fourth most-popular New Year’s resolution, falling just behind dieting, exercising, and losing weight. 

Americans had good intentions to get their finances in order in 2019, but that doesn’t mean they’ve necessarily stuck to their new budgets. According to research commissioned by GuideVine, a service that matches people with financial advisers, 70 percent of Americans with a budget struggle to stick to it.

And it’s not likely that making your budget a New Year’s resolution will make keeping with it any easier. According to the Ohio Credit Union League survey, 79 percent of Ohioans make incremental improvements toward keeping their resolutions each year, but fall short of keeping them. Another 14 percent have never kept a New Year’s resolution.

The average American doesn’t fare much better. According to a study of 1,450 Americans by Vitagene, 88.6 percent reported they’d likely keep their resolutions for a year or less. Another 36.6 percent of respondents said they usually keep their resolutions for a month or less, meaning they’d be off track by February.

Although your train may have gone off track, all hope is not lost. Here are some tips to help you attain your resolution of getting down to business, paying off bills, buying a house, opening an IRA for retirement, or getting on a path to better financial stability. 

  • Use a budgeting tool. A successful budget must be recorded somewhere. DoverPhila Federal Credit Union offers Banzai, an award-winning financial literacy program that has user-friendly budgeting tools such as calculators, simulated games, and an interactive library with educational articles. Consider budgeting apps such as EveryDollar and YouNeedABudget if you’re looking for more mobile options.

  • Be realistic about spending and saving. Don’t set goals you can’t realistically achieve with your budget. Trying to spend too little or save too much each month could create frustration, which will increase the likelihood that you will dump your budget altogether. Instead, map out incremental changes you can make that will add up to big financial gains over time.

  • Keep goals in mind. Reminding yourself how you would ultimately like your money to work for you can help with exercising control over impulsive spending habits. Consider making your goals visual if you have a hard time picturing your long-term goals when you are tempted to splurge. Try keeping a picture of your ideal retirement in your wallet or a list of all the reasons you want that new car stuck to the fridge. 

  • Reward yourself. It is important to keep long-term goals in mind, but rewarding yourself for small budgeting wins along the way will keep you feeling positive about your budget. The more positively you feel toward a task, the more likely you are to continue performing it. After you reach certain budgeting goals, treat yourself to a small splurge. You earned it!

  • Seek help. Consider asking for help if you are struggling with sticking to a budget. Sometimes, aid can come in the form of a family member who shares household finances. Other times, however, you may require an expert opinion. DoverPhila Federal Credit Union offers free financial counseling to members and is always happy to aid with budget set-up and maintenance.

DoverPhila Federal Credit Union is here to help you reach your financial resolutions. Call the credit union at 330-364-8874 or visit your local credit union for more information.

Reasons to Not Skip a Home Inspection

Shopping for a new home can be an exciting blur of listings, neighborhood scouting and open houses. There’s so much to consider! You want a house in the perfect neighborhood with that gorgeous kitchen and great yard, all within your budget. And then, it all finally comes together and you think you’ve found your dream home. But don’t go “under contract” just yet! Before you officially become the new owner of the house, learn all you can about its general condition by having a home inspection.

A home inspection can set you back several hundred dollars, but it can easily save you thousands down the line. The inspector carefully examines the entire house and checks its systems, structure, and equipment for functionality and potential problems. Having an inspection contingency in your contract gives you a way to opt out even after you are officially under contract. 

Here are some reasons you don’t want to skip a home inspection: 

  • Find deal-breakers. A house may look fantastic, yet have major issues with wiring, roof, HVAC, plumbing, and more. A quality home inspection gives you the inside scoop. You might want to back out of the deal if the inspection reveals any large problems that may take heavy work or expensive repairs – or ask the seller to fix the problems before the closing date if you like the home too much to back away. Sellers sometimes agree to cover any major repairs or to offer the buyer a credit toward overseeing the repairs themselves. 

  • Safety concerns. An inspection can reveal the presence of harmful substances like radon, carbon monoxide, and mold. Look for these hazards before the home is officially yours. You do not want any unpleasant surprises after it is too late. 

  • Anticipate future costly repairs. A professional inspector can determine the age and condition of the home’s systems and equipment, and then forecast when repair or replacement may be needed. This might not be a big enough deal for you to back out of the contract, but it can help you budget for a major repair several years down the line. Alternatively, you may be able to use it for price negotiation. 

  • Reveal illegal additions. An inspection checks for rooms, garages, and basements that were added or finished without following legal codes or obtaining the proper permits. Having an illegal addition in your home means owning property that does not officially exist. This can get you into trouble with home insurance and property taxes. It can also make it difficult to do more work on these areas in your home. You can ask the seller to obtain the proper permits if a home inspection reveals any illegal additions. This information can be used as a bargaining chip.  

  • Obtain insurance easily. Lots of home insurance companies do not insure a home if it has not undergone a certified inspection because they do not want to take a chance covering a home that is going to need costly repairs in the near future. 

  • Learn how to protect your investment. If possible, arrange to follow the inspector around the home as they complete the job. They are an invaluable source of information to you by providing tips and knowledge on how best to maintain your home, its systems, and its equipment. Knowing how to properly care for your home can save you thousands of dollars over the years. 

  • Negotiate. Most home inspections reveal several problems. You can use them as bargaining chips to renegotiate the purchasing price of the home if these problems are minor enough to keep you interested in buying the house in its present condition.

It’s never a good idea to skip a home inspection no matter how perfect your dream home looks.

Are you in the market for a new home? Click here, stop by DoverPhila Federal Credit Union, or call 330-364-8874 today to ask about the home loan options we have for you.

Tax Reform 101: 5 Reasons You Should Start Planning for Next Year Now

Even if you didn’t owe money this past tax season it’s more important than ever to plan for next tax season now. The idea of tax planning isn’t anything new, but with so many changes under the new tax reform law, DoverPhila Federal Credit Union wanted to break down the five reasons to start planning, and the moves you can make now to help you save money on your taxes when you file.

Five Reasons to Start Planning
1. Lower tax rates, more money. One of the biggest changes under the new tax law that may impact how much you need to have withheld from your paycheck is the reduced tax rates. Tax rates were reduced about 1 – 3% for the majority of taxpayers so you may be seeing more money in your paycheck. Although the IRS adjusted the withholding tables that employers use to produce the correct amount of tax withholding for people with simpler tax situations, for instance, those who only take the standard deduction, the withholding tables don’t reflect some of the other changes that impact more involved tax returns like the reduction of some itemized deductions.

 2. Elimination of personal and dependent exemptions. Under the new tax law the personal and dependent exemptions of $4,050 were eliminated. If you are married and have a few kids, the elimination of your personal and dependent exemptions can mean a big reduction in the number of write-offs you once had.

3. Increase in the Child Tax Credit. Although you’re no longer able to take the dependent deduction, the new tax reform law increased the Child Tax Credit from $1,000 to $2,000 per child. The law also adds a new, non-refundable credit of $500 for dependents other than children. Finally, it raises the income threshold at which these benefits phase out from $110,000 for a married couple to $400,000, which means more people will be eligible for the credit. The Child Tax Credit is for kids under the age of 17. You may see a change in your taxes this year if your youth celebrated a 17th birthday.

4. Changes if you’re a homeowner. If you are a homeowner or you are considering buying your dream home, some of the changes in the new tax law are very important for you. As an existing homeowner, you may see fewer tax deductions that lower your tax liability especially if you live in a state with high property taxes since the new law limits the amount of state and local property, income, and sales taxes that can be deducted to $10,000. In the past, these taxes have generally been fully tax deductible. Due to the cap on these tax deductions, you may now also have to take the standard deduction on your taxes instead of taking itemized deductions since the standard deduction has almost doubled. Don’t worry about knowing if you take the standard deduction or itemized deduction at tax time.

If you are considering purchasing a new home this year, one thing to keep in mind is the law also caps the amount of mortgage indebtedness on new home purchases on which interest can be deducted at $750,000 down from $1,000,000 in the former law if you already own a home. If you are trying to make a decision between purchasing in a high property state like California or a state with lower property prices, knowing about these changes could help you with your decision.

5. Elimination of tax deductions. The new tax reform law eliminated several popular tax breaks starting in tax year 2018 (the one you file in 2019) like miscellaneous itemized deductions. This includes deductions such as job search expenses, unreimbursed work expenses, investment expenses and tax preparation fees, exceeding 2% of adjusted gross income as well as moving expenses.


What You Can Do to Start Planning Now?
Adjust your withholding allowances. One of the best things you can do is to use the TurboTax updated W-4 calculator to boost your tax refund — or your take-home pay.

Reduce your taxable income. You can decrease your taxable income by making smart money moves throughout the year like investing in your 401K or IRA. Also, don’t forget expenses like paying student loan interest can be tax deductible and will decrease your taxable income at tax time.

As a member of DoverPhila Federal Credit Union, you have access to TurboTax at an affordable price. TurboTax is always up to date with the latest forms and 100% accurate calculations. There is no fretting your taxes when you use TurboTax. You can file your taxes with complete confidence – and get your biggest possible refund, guaranteed. Click here to access TurboTax and your savings!

Warm Up to the Bill Pay Winter Sweepstakes

Image: Bill Pay Sweepstakes

Pay bills online with DoverPhila Federal Credit Union’s online bill pay in December and January for entries into the 2018 Bill Pay Sweepstakes. Two cash prizes of $5000 will be awarded EACH month during the promotion!

To enter for a chance to win, complete one of these options:

  • Add 5 new payees to DoverPhila’s bill pay. Schedule recurring payments to ensure you are entered each month.

  • Make 5 or more online bill payments.

Online bill pay is convenient, secure, and a smart way to pay your bills. Sign up today at www.dpfcu.org if you’re not already paying your bills with the credit union’s online bill pay.

More information and the official rules for the 2018 Bill Pay Sweepstakes is available here: https://tinyurl.com/ycfk7ob2.

To participate in the sweepstakes visit https://billpaysweepstakes.com/dpfcu.

DoverPhila Gives Back to Youth Members and the Community

Image: DP’s Kids Club and cu$aver members present a check to the local Salvation Army

Image: DP’s Kids Club and cu$aver members present a check to the local Salvation Army

The holidays came early for DoverPhila Federal Credit Union’s youngest members and its local Salvation Army.

On December 7, the credit union gave a $10 holiday gift to its DP’s Kids Club and cu$aver members – over 1,400 youth. The $14,000 amount was matched and then donated to the Salvation Army of Tuscarawas County.

The Salvation Army is a global and local organization that consists of dedicated staff and committed volunteers that work every day within communities to provide basic needs such as food, clothing, and shelter. Beyond those basic needs, The Salvation Army invests time in the human spirit by offering counseling, education programs, recovery/support programs, and spiritual support for those willing to accept it.

“Today’s youth is our community’s future. It is our fiscal responsibility to build a strong community and to best serve our members,” said Jack Dooling, Chief Executive Officer and President of DoverPhila Federal Credit Union. “What better way to do that than by rewarding youth members for taking the initiative to be financially responsible while also giving back to an organization that is dedicated to serving that same community.”

The credit union is proud to offer specialized savings accounts that are designed for youth ages 17 and under. DP’s Kids Club and cu$aver accounts encourage members to adopt healthy financial habits at an early age. The accounts offer no annual fees, competitive interest rates, and dividends to teach youth that saving money always pays. Each DP’s Kids Club and cu$aver member also has access to newsletters, contests, saving incentives, exclusive events, and more.

DoverPhila Federal Credit Union has been proudly serving the financial needs of its members and community for 65 years. It has offices in Dover, New Philadelphia, Newcomerstown, and Uhrichsville. Those who live, work, worship, or attend school in Tuscarawas County can become a member of the credit union with a simple $5 deposit. Visit www.dpfcu.org for more information.

All You Need to Know About Buying a Used Car

Buying a previously owned vehicle can be a great way to save big on one of your most valuable possessions. If you’re shopping for an amazing deal on wheels, then follow the steps below for a smoother ride!

Step 1: WORK OUT A BUDGET
How are you paying for your new set of wheels?

Your purchase will be fairly simple if you’re paying with cash. You already have your spending cap and you know what you can afford. Just make sure not to spend it all on the car, or you won’t be able to cover your vehicle’s insurance, registration, repairs, and future maintenance.

An auto loan is your best option if you’re unable to use cash. Talk to a lender to determine how much car you can afford. Research a few lenders before making a decision and only take the car dealer’s financing if it beats any other offers you have (but be sure to read any fine print). You may be pushed into taking out a larger loan, but be careful not to let your total monthly auto expenses top 20% of your take-home pay.

It’s also a good idea to get pre-approved for an auto loan before stepping foot in the dealer’s lot or visiting their website. Stop by DoverPhila Federal Credit Union to find out about our fantastic auto loans!

Step 2: CREATE A TARGET LIST
Which make and model vehicle do you want to buy? Do you want a car, truck, SUV, or maybe a hybrid? There are many choices and options. Check out Consumer Reports or J.D. Power for reliability ratings on each type of vehicle from the most recent model years. You’ll find detailed reviews and lists of common trouble spots to note. Narrow down your choices to three or four model cars.

Step 3: RESEARCH
With just a few keystrokes, you can get the skinny on your vehicles of choice. Visit Cars.com or TrueCar.com to get started. You can also find used cars for sale in any of these locations:

  • The used-car section of new-car dealerships

  • Used-car dealerships

  • Used-car retailers like CarMax.com

  • Websites, like Craigslist.com or AutoTrader.com, where car owners list their vehicles for sale

Of the four choices, private-party sellers will likely offer the lowest price. However, these cars are not backed by dealerships, so you’re taking a bigger risk with the purchase.

Be sure to consider the vehicle’s year, make, model and mileage when doing your research. It’s also a good idea to find out what the average asking price is for the car you want to buy.

Step 4: GET THE VEHICLE HISTORY REPORT
Learn all you can about each vehicle once you’ve narrowed down your search. What kind of repairs or maintenance did it undergo? Was it ever involved in a collision? Find out with a vehicle history report.

You can get a detailed vehicle report on AutoCheck.com or Carfax.com. Ask the dealer if they have one available for review – policies vary, but many will gladly show it to your or email you a copy. If obtaining one on your own, you’ll be asked for the vehicle identification number (VIN) or for the license plate number.

Step 5: CALL THE SELLER
Contact the seller to verify the information you’ve learned about the car. If you’re using a private-party seller, then ask the owner why they’re selling the car and inquire about any possible mechanical issues. If you’re working with a dealership, then a phone call or an email is a quick way to make sure the car is still available. You can also ask for any basic information about the car that you weren’t able to find out on your own.

Set up an appointment to take the car for a test drive if everything checks out.

Step 6: TEST DRIVE
Pay attention to these details as you try out your potential new car:

  • Is there sufficient legroom and headroom?

  • Is the ride smooth?

  • How is the acceleration and power?

  • Are the seats comfortable and adjustable?

  • Is the “check engine” light illuminated after initial startup?

  • Do you have full visibility?

  • Are the brakes working well and working quietly?

  • Do all the lights (headlights, brake lights, turning signals, internal lights) work?

  • Do the automatic window mechanisms and lock-door buttons work?

If your car has passed the test drive, then ask to see the vehicle’s service records to determine if the car is current with its scheduled maintenance check-ups.

Step 7: HAVE IT PROFESSIONAL INSPECTED
Private sellers and most dealerships won’t have a problem with you taking the car to a mechanic for an inspection. Having your car professionally inspected will only cost you about $100 now, but it can save you loads of aggravation and lots of money down the line.

Step 8: NEGOTIATE
Here’s where the real fun starts! If you’ve worked out your financing, then you already know your spending cap. Otherwise, work it out now before you start bargaining.

Don’t talk about monthly payments when negotiating a price; talk about the price of the car. Make an opening offer based on the average price for your car and use all the information you’ve learned about your vehicle as bargaining chips. Be firm and don’t sound desperate and you will land up with a fairly priced vehicle.

Step 9: MAKE IT OFFICIAL
You’re ready to become the official new owner of your car.

If you’re working with a dealership, then you’ll sign the contract in their financing office. You may be offered additional products and protection here, but make sure the price is worthwhile. Check with DoverPhila Federal Credit Union first. We are able to extend similar protection to our members and have a variety of options tailored to our members’ needs.

Don’t be alarmed if you see extra charges tacked onto your documentation such as sales tax and a license fee. These are standard in most states. If you’re buying your car from a private-party seller, then make sure the title and registration are officially transferred to you.

Don’t forget to have insurance before driving off the lot. Once that is finalized, you’re all set to power up and take your new car for its first spin!

Click here for more information regarding DoverPhila Federal Credit Union’s auto loans and products.

Staying Safe Online

With the average American spending 24 hours a week online, internet safety is more important than ever. A hacked or compromised computer can put you at risk for money loss, phishing scams, or even complete identity theft.

If your computer’s security has been breached, then it can be turned into a “middle man” for online theft. Criminals may remotely control a computer with weak security and use it as a patsy for large-scale crimes against hundreds or thousands of other computer users. An unprotected computer can commit awful crimes without its owner even knowing about it!

Fortunately, keeping your privacy, money, and sensitive information safe when browsing the internet is simple; all it takes is awareness, some proactive steps, and lots of common sense. Read on for steps you can take to keep yourself safe online.

AVOID FAKE SITES
The easiest way to get scammed online is to visit a fraudulent site. If you are browsing a site you do not usually use, then ask yourself these questions to make sure it is safe:

  • Does your browser warn you against visiting the site? Whether you browse with Chrome, Firefox, or Safari, your browser will warn you about certain sites based on actual data and user reports.

  • Is the web text riddled with grammar mistakes and typos? Reputable website owners are careful to present a polished, professional look. If a site looks like it was written by a small child, then leave the site.

  • Is the site secure? Only visit sites with an “https” and not just an “http” in the address bar.

  • Does the digital footprint check out? Google the company’s name to see what the internet and Better Business Bureau are saying about them.

  • Is there a legitimate “Contact us” section? There should be an authentic physical address and phone number for the business.

  • Is there an excessive amount of ads? Ads are intrinsic to the online world, but if a website seems to be covered in intrusive ads then it is likely a fake.

  • Check the shipping and return policies. If you cannot find this information, the site probably doesn’t really sell anything at all – though they are happy to take your money.

  • Is there a trust seal? Companies that deal with sensitive information make an investment to earn your trust. A trust seal, like the PayPal or Norton Secured seal, tells you the company has worked hard to deserve your trust.

  • Is the URL authentic? When redirected to another site, check the new URL to see if it matches the original company.

PRACTICE PASSWORD SAFETY
It is your key to almost every online board and gated site – do your best to keep it safe! Here is how:

  • Use a password generator. The best way to ensure that your passwords do not get hacked is to use a password generator like Sticky Password, LastPass, or 1Password. These services generate a super-secure password for every site you visit – but you will only need to remember your one master password.

  • Change your password. If you do not like the idea of using a password generator, experts recommend changing your passwords every 30-40 days.

  • Never double passwords. Using common passwords across multiple sites is easy on the memory, but hard on your safety and security.

  • Use strong passwords. For optimal security, choose passwords that include a mixture of capitalization use, numbers, letters, and symbols.

UPDATE YOUR BROWSER
Perhaps the most neglected and simplest step of internet safety is keeping your browser updated. You can increase your browser’s security and improve your computer at the same time with just one click.

Here is why you will want to keep your browser running with its newest version:

  • Increased speed. Each new version of your browser is an improvement on the old one. Why lag behind when you could be using a faster browser?

  • Improved website compatibility. Lots of websites rely on updated browsers to share all of their graphics and features.

  • A better experience. A newer browser will offer you added features, customizable extensions and sleeker graphics.

An updated browser will provide better security. Internet companies are constantly looking for ways to protect you and keep you safer. Take full advantage of their efforts by always using the latest version. Updated browsers offer stronger protection against the most recent scams, phishing attacks, viruses, Trojans, malware, and more. Newer browsers have also patched up security vulnerabilities that may be present in your older browser.

Updating your browser is super-easy and super-quick. Late model computers will update automatically as soon as new iterations are released to the public. If your computer is a little older, then you can choose the “auto-update” feature available on some browsers for the same results. Otherwise, you can update your browser manually by following the instructions on your browser. These are typically easy to follow and take just a few clicks.

Follow these tips for safe online browsing. A few small steps now can save you heaps of aggravation and money lost down the line. Do not let those hackers get to you!

Back-To-School Shopping Hacks

Between new backpacks, textbooks, a long list of supplies and a fresh autumn wardrobe, most parents are looking at a bill of close to $700 for school-related expenses this season. Be proactive and save big! Read on for our handy list of back-to-school shopping hacks that will help you keep more money in your wallet. 

Plan to shop five times
To take full advantage of sales and clearance events throughout the summer, plan on making five shopping trips this season so you can get the best prices when they are offered. 

Stock up 
While prices are low, buy enough school supplies to last through the first half of the year or more. You’ll save a ton and not have the hassle of buying more later. 

Take advantage of loss leaders
Every week this season, retailers sell one product at a super-low price. This is their loss leader: an item priced so cheaply that retailers actually lose money on sales. Make sure you catch those deals! 

Shop the dollar store
Before you hit the regular stores, shop for real bargains at dollar stores like Dollar Tree, Family Dollar, and Dollar General.

Buy designer backpacks online
Check out sites like 6PM and eBags for fantastic deals on designer backpacks. 

Use manufacturer coupons
Check out circulars, like RedPlum, and coupon sites, like Retailmenot.com, for manufacturer coupons from supply companies. 

Decode price tags 
Here’s how these popular stores mark their lowest prices: 

  • The Gap: Ending in $.97
  • Target: Ending in an 8
  • Old Navy: Ending in $.47
  • TJMaxx: Yellow price tag

Shop through Love to Shop (exclusive to DoverPhila members)
Do all your online shopping through Love to Shop, a fun and easy way to earn cash back when you shop online at your favorite stores. Credit union members receive cash back for every purchase at over 1,500 online retailersOpens a New Window. in Love to Shop. Get details!

Coordinate with other parents
If you’re in Walmart when they have bargain-priced pencils, offer to buy a few boxes for your friend’s kids. And, when your friend finds the super-hot deal on crayons, he’ll pick up a few boxes for your kids. 

Check out gift-card sites
Save big by buying discounted gift cards to stores like Michael’s and JCPenney on sites like GiftCardGranny and Raise. 

Use the Amazon App
Have your phone handy when shopping so you can comparison-shop when buying your supplies. If an item is cheaper on Amazon, why buy it at a store? 

Sign up for promotional mail

  • H&M: Save 20% on one item when you text your email address to 707-03
  • Kohl’s: Save 15% off your entire order by texting SAVE15 to 564-57
  • Old Navy: Sign up for a weekly text alert by texting 6046 to 653-689 and get a $5 coupon; and also sign up for promo emails on OldNavy.com to get a 30%-off coupon
  • Crazy8: Sign up for emails and receive 18% off your next order plus free shipping
  • The Children’s Place: Input your email address in the pop-up box on TheChildrensPlace.com and get a $10 coupon.

Take advantage of price-matching
Lots of stores, like Office Depot, Staples and Target, offer to match any competitor’s price.

Shop early in the week 
Weekly sales go live on Sundays and the best deals get grabbed first. Shop Sundays and Mondays, and never miss out on a great deal again. 

Save big this season with these back-to-school shopping hacks! And don’t forget to sign up for Love to Shop through Love My Credit Union Rewards!

Medical Identity Theft: What to Do and How to Prevent It

Medicare is replacing its old cards with new ones. They contain an 11-digit code instead of a Social Security number. Unfortunately, even though the cards have not yet been issued, scammers are taking advantage of this change.

A caller pretending to be a Medicare representative will ask for payment in exchange for the new ID. Alternatively, the caller might claim to need the victim’s medical information to send out their new card. In reality, though, the cards are free and will be mailed automatically.

In another variation, a caller will wrongly insist that the victim must purchase Medicare’s prescription drug coverage or risk losing all coverage. 

In another ruse not limited to Medicare members, the caller asks for the victim’s checking account number and Social Security number to deposit a supposed refund from their insurer.

Once the scammer has the victim’s medical information, though, they can:

  • Pose as the victim to see a doctor,
  • Obtain prescriptions, and
  • File a false health claim.

Don’t be the next victim!  Here’s what you need to know about medical identity theft. 

The cost.
The average medical identity theft costs $13,500 to fix, but can affect other areas of life and home, such as:

  1. Loss of health coverage. Scammers might max out your benefit limits, leaving you with no coverage. 
  2. Ruined credit history. Scammers can destroy your credit history by racking up hospital bills in your name and then disappearing.
  3. False medical records. When the scammer receives treatment in your name, it’s documented on your medical records. This can be extremely dangerous when you seek medical attention in the future.
  4. Higher premiums. The scammer’s medical activity may cause your premiums to rise. 

Preventing medical scams.
Take proactive steps to ensure you’re not the next victim.

  • Know that Medicare will never call you. They always contact members via mail.
  • Be wary of suspicious-looking bills from third-party providers. If you receive any, alert your insurer immediately.
  • Study your Explanation of Benefits (EOB). If you spot treatments you don’t remember receiving, notify your provider.
  • Check your medical records. Always check them regularly for suspicious doctor visits, prescriptions or maladies.
  • Review your credit history often. If you see unfamiliar charges, immediately ask for a fraud alert and place a freeze on your credit.

Fixing your medical history.
If you spot an error on your medical records, it’s crucial that you correct it so it doesn’t affect your medical treatment in the future. Send a copy of the documents detailing the discrepancy to every medical professional and facility involved in your care. 

Fighting back.
If you’ve been victimized by medical identity theft, be sure to report it! Alert the FTC using their website at www.ftc.gov, or at 1-877-438-4338. If you are a member of Medicare, call 800-MEDICARE or visit www.Medicare.gov. Alternately, report the scam to your own insurance provider. 

New Year, New You, New Budget

Just like swearing off chocolate and carbs, sticking to a household budget is a New Year’s resolution easier made than accomplished. In fact, according to the National Foundation for Credit Counseling’s 2017 Consumer Financial Literacy Survey, last year only two in five U.S. adults said they had a budget and kept close track of their spending throughout the year.

Everybody knows it’s important to track personal finances and maintain your financial health. So, why do Americans have such a difficult time sustaining a budget?

It likely doesn’t have much to do with a lack of money. According to the U.S. Bureau of Labor Statistics, the average household in America makes $74,664, well above the $18,871 national poverty line for a family of three. It’s also unlikely that consumers are too busy to keep up with their budgets. Some budgeting apps like Wally and Mint, can track spending and income with minimal attention from the user.

Financial planning and psychology experts believe the real reason people struggle with budgeting is psychological. According to an article in the Journal of Consumer Psychology, humans only have a finite amount of willpower. We can only restrict ourselves so long before we indulge. Just like dieting, people tend to see budgeting as restrictive; therefore, struggle to preserve the motivation to stick with it.

As you ramp-up your drive for 2018, here are some tips to help you exercise good budgeting habits and overcome a craving to spend.

  • Don’t mindlessly spend: If you don’t feel you have enough money, you could be spending money unnecessarily. Search the corners of your budget for empty spending that isn’t serving you. Many financial blogs offer creative tips to help with this. Check out Lauren Greutman’s list of 13 Things You Should Never Pay For.
  • Make time: If you don’t feel you have enough time to track spending, try finding a simple solution – like an app. Phone apps such as Wally and Mint track spending and income for you. They require minimum attention and time.
  • Start small: It takes weeks to form a new habit, and the same thing applies to tracking your income and expenses. In the beginning, keep it simple. If your spending plan is too complicated or restrictive, you will not stick to it.
  • Budget with a friend: If you don’t feel confident, get some help! Apps, financial blogs, and spreadsheets might help if you’re a little stuck in your budgeting process. But if you don’t even know where to start, consider seeking help from a trusted family member or a financial expert. Your local credit union is dedicated to financial literacy and can offer help and advice for your unique budget.

To learn more about how a credit union can help you be financially fit, visit www.aSmarterChoice.org and find a credit union in your area.

DoverPhila Introduces New Products While Continuing to Give Back

DoverPhila Federal Credit Union continues to strive in the financial industry while giving back as it wraps up another successful year.

The credit union was able to give back $1.2 million to its members. DoverPhila is a community-focused, financial cooperative controlled by its members making it possible for it to reward its members with a bonus dividend. The credit union’s financial success is also shared with its members through other fiscal opportunities such as low cost auto loans, higher interest rates on certificates of deposits (CDs), and a vast array of other products and services.

The credit union also continued to build its relationships within Tuscarawas County through various sponsorships that included Union Hospital’s Run for Home half-marathon, United Way of Tuscarawas County’s Color Us United 2k and Rock ‘n Run 5k, Tusky Days Festival, East Central Ohio ESC’s Family Reading Festival, New Towne Mall’s Wishes & Wants, and Tuscarawas County Public Library Bookin’ It 5k Walk/Run. The credit union also donated to area organizations such as United Way of Tuscarawas County, Junior Achievement of East Central Ohio, Leadership Tuscarawas, Tuscarawas Clinic for the Working Uninsured, Kent State University Tuscarawas, Tuscarawas County Philharmonic, Tuscarawas County Community Hospice, Trinity Hospital Twin City’s mammography unity expansion, and many more.

This year also marked the construction of the credit union’s new North Dover location and the launch of new financial resources. These services include the My Mobile Money App that allows members to control how their DoverPhila debit cards are used, a web-based financial literacy program called Banzai that is available for free to area schools and community organizations, and a new mortgage service area available on its website that offers various mortgage calculators along with prequalification and full-residential loan applications.

DoverPhila Federal Credit Union is excited to welcome 2018 as it continues to serve and meet the needs of its members while building community. Anyone who lives, works, and attends church or school in Tuscarawas County can share in its success by making a simple $5 deposit at any of its five locations in Dover, New Philadelphia, Newcomerstown, and Uhrichsville. Please call a member service representative at 330-364-8874 for more information about opening an account.

Everything You Want to Know about Bitcoin (…But Were Afraid to Google)

What is Bitcoin?
Bitcoin is a form of money that is entirely digital. The U.S. has dollars, Europe has Euros and the internet has bitcoins. The fact that bitcoin is digital isn’t all that interesting – because, in reality, an estimated 92% of all money is digital. Bitcoin is fascinating because it’s decentralized. That means no single nation, bank or institution controls it. Instead, the bitcoin currency is administered and propagated by bitcoin users.

How Does Bitcoin Work?
Bitcoin works much like a regular currency. You can buy and sell digitally and you can use bitcoin to make “real life” purchases if the vendor accepts bitcoins. You can invest with bitcoin, exchange your bitcoins for other forms of currency, and transfer bitcoins. You can also create new bitcoins through a process called mining. This is where bitcoin’s decentralized system becomes super-interesting. Rather than a large financial institution printing money, anyone can mine new bitcoins.

“Miners” solve complex mathematical problems, which validate other bitcoin transactions within the bitcoin network. This system of peer-validation is the bedrock of the revolutionary blockchain technology that makes Bitcoin so secure and allows for peer-to-peer value transferring. For every “block” of transactions successfully validated, the miner is rewarded new bitcoins.

Is Bitcoin Legal?
Yes. Bitcoin has an infamous reputation due to its ability to be traded securely and anonymously without the regulation of a centralized institution. It has been associated with money-laundering and illegal purchases on the web’s black market – but it’s still legal.

Of course, as with all currencies, bitcoin is illegal when you use it to purchase illegal products.

How can I Earn Bitcoins?
There are several ways to get into the bitcoin market. The first of these is mining. As mentioned above, mining is the process of solving mathematical problems that are available to anyone in the bitcoin network. Miners provide transaction validation for the network and are rewarded with bitcoins.

In 2009, you could earn 50 BTC per “block” mined. Today, it’s considerably less, at just 12.5 BTC. Also, these mathematical problems are a lot harder than what you’ve encountered in high school calculus. Lastly, you’ll need to invest in specialized computers to tackle these problems.

You can also get bitcoins by working for them. You’ll find lots of job postings that pay in bitcoins on the internet.

There are also high-risk ways to get bitcoins, such as gambling and currency trading.

Do I Have to Pay Taxes on Bitcoin Earnings?
The IRS views your bitcoins as property rather than currency; so every transaction you make within the bitcoin network will impact your capital. In addition, if you are paid in any crypto-currency, this income will be taxed.

In many ways, bitcoins are subject to the same tax laws as regular currencies, including regulations, rules regarding reporting, and sales tax.

If you use bitcoins frequently, check with your accountant. Keep accurate records of your transactions so you can report your bitcoin income. It must be recorded in U.S. dollars at the exchange rate it was valued for at the time of the transaction.

Credit Union Collects Over $30,000 for United Way

DoverPhila Federal Credit Union collected over $30,000 for United Way through its annual in-house campaign involving corporate, employees, and credit union members.

The United Way campaign started on Monday, October 23rd and concluded on Saturday, November 11th. Credit union members who participated in the campaign received a pledge card that hung in the lobbies of each DoverPhila location. With members’ lobby pledge cards, credit union employees’ donations, and a corporate gift from DoverPhila Federal Credit Union, the annual campaign raised a total of $30,110.71 for United Way.

United Way is a local nonprofit organization with one goal in mind – improving the community. By partnering with area organizations, United Way can make this goal a reality. The monetary donations go towards providing a better future for area youth, creating a healthier community, and helping people in crisis.

For more information or to donate to United Way, call 330-343-7772 or visit www.tuscunitedway.org.