International Credit Union (ICU) Day® has been celebrated on the third Thursday of October since 1948. It’s a day recognizing and celebrating the impactful history of the credit union movement and its unique spirit and philosophy. This year, ICU Day is October 20th!

Each year, the Credit Union National Association (CUNA) and the World Council of Credit Unions select a theme for ICU Day. This year’s theme is: “Empower your financial future with a credit union.”

At Community Financial, we use International Credit Union Day as an opportunity to celebrate YOU, our members! Visit us in-branch on Thursday, October 20th for more helpful tips to empowering your own financial future.

Curious how credit unions are different from big banks?

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Continuing our education this Cybersecurity Month, there’s a new scam to look out for! While everyone dreams of winning the lottery, scammers are patiently waiting in the wings to turn that dream into a nightmare. A fake lottery scam involves one or more scammers pretending to be a legitimate lottery company in order to con their unsuspecting victims out of their information and hard-earned money.

Here’s all you need to know about fake lottery scams and how to spot them.

How the Scams Play Out

In a fake lottery scam, a scammer will reach out to a potential target via phone, email, or through social media platforms to inform them that they’ve won a large amount of cash or major prizes like a new car or other expensive goods. Alternatively, they may offer to let the target play a “free round” of lotto, which will miraculously result in an instant win.

To convince the target of their authenticity, the scammer may claim to represent a major lotto company, like Mega Millions, or another recognizable name. In some cases, they’ll pretend to represent a government agency, like the Federal Trade Commission (FTC), or an invented, but real-sounding, program like the “National Sweepstakes Organization”.

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With the continued onslaught of fraudsters and identity thieves hiding behind every corner of the internet, Cybersecurity Month is the perfect time to reassess your financial security and make sure everything is in tip-top shape. Securing your payments is one such activity you can do this month to help fight off future scam artists.

Below, you’ll find our favorite tips and tricks to keep your payments—and your finances in general—safe and secure this October.

Always Enroll in Text Alerts

At Community Financial, we’re always looking for ways to bolster your financial security while streamlining the process itself. That’s why your Community Financial debit and credit cards are automatically enrolled in Fraud Text Alerts to keep your account safe. If you have cards elsewhere, make sure to inquire about text alerts—making it easy for your financial institution to check in with you about questionable account charges.

Go Digital (Securely)

Scammers are getting better and better at stealing card information, making the world of payments seem overwhelming and scary. However, you can safeguard your card information by utilizing Community Financial’s digital payment options.

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With gas prices soaring, thousands of drivers are beginning to consider the purchase of an electric car. While an electric vehicle (EV) might be the right choice for many when looking to combat rising gas prices and help preserve natural resources, there are lots of variables to consider before taking the plunge.

Here’s what to know about electric cars before you drive off the lot.

Pros:

The most obvious and prominent advantage of owning an electric vehicle is saving on fuel costs. Driving a car that runs on electricity instead of gasoline means saving money on a large expense category of your budget, month after month. Of course, the higher the cost of gas, the more you save. Right now, with most drivers experiencing pain at the pump, going electric is more popular than ever. Another budgeting bonus to consider is the fact that electricity costs tend to be far more stable than gasoline prices.

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With inflation soaring and financial security a constant topic of conversation, it’s fair to say that wanting to spend money in the most effective way possible is at the front of many of our minds. But what does that mean? Is it better to pay for everyday purchases with cash, credit, or debit?

Although lifestyle and personality may influence your choices, there’s a time and place for all modes of payment. We’ve compiled a list of helpful tips that can help you navigate the variety of payment methods and when to use each of them to best utilize benefits.

When is Cash King?

With the boom of mobile payments, cryptocurrency, and the ever-rising number of person-to-person payment platforms, it may seem logical to think that our society is moving toward becoming cashless.

However, cash is still king when it comes to a few different situations.

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Julie B greets a friend at a Sizzling Summer concert in Novi with plenty of fun things to share!

You may already know that our Student-Run Credit Union team works tirelessly during the school year to provide exciting and educational opportunities. But did you know that they provide assistance and services during the summer as well? This summer, our Education Partnership Coordinators (EPCs) were hard at work helping the community with fun activities, educational presentations, and more!

If you’ve been to a Youth or Kid’s Concert this summer, you’ve probably seen our EPCs in their orange Summer of Sharing T-Shirts, passing out giveaways and spreading the Community Financial spirit to the community. Plymouth’s Music in the Park, Northville Tunes on Tuesday, Canton Tuesdays are Terrific, and Novi Sizzling Summer are just a handful of the great concert partnerships we were fortunate enough to cultivate this year.

Our EPCs also had the opportunity to participate in Money Mondays, a summer day camp program through the Plymouth-Canton Community Schools. During Money Mondays, our team members visited Bentley Elementary four times throughout the summer with educational presentations designed to help campers learn financial skills to last a lifetime.

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