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VIRGINIA CREDIT UNION'S NEWSLETTER FOR TEENS April 2008 |
If you want to know more about any of the topics in Pocket Change, we’re here to help.
Get in touch with us by phone, by e-mail or online.
Whether you want to get started saving, find out more about your credit or buy a car, we’ve got the information you need.
(804) 323-6800
or (800) 285-6609
memsvc@vacu.org
www.vacu.org
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In this issue:
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Ready, Set, Save
Building up your savings for future goals can really pay off! In addition to earning dividends on your savings account at your credit union, this year you also have a chance to win one of 5 monthly drawings for $100 with Ready, Set, Save.
You’re automatically entered by doing 3 things:
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Keep a Regular Savings account balance of $25 or more throughout the month
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Make at least one Regular Savings deposit for $10 or more that month and
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Don’t make any withdrawals from your Regular Savings account that month.
Get the official Ready, Set, Save rules.
If you have any questions contact us.
$100 initial deposit. Annual Percentage Yield (APY) of 1.50% for
example purposes only. Earnings may vary based on your rate.
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Going Green
Wondering how you can do your part in saving our environment? Here are a few simple, everyday things you can do to help.
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Recycle – You can recycle everything from boxes and plastic to cell phones and computers. If you don’t already recycle at home, it’s easy to get started. Visit www.earth911.org and type in your zip code to find a recycling center near you.
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Reduce – We can all help by buying and using less. Try to look for products with less packaging and for packaging that can be recycled. Bring your own bags to the store or tell them you don’t need a bag if you’re only buying a couple of things.
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Reuse – If you have something you don’t use or want anymore, give it to someone else. Remember one man’s trash is another man’s treasure. When you need something, consider buying at vintage stores, antique markets or consignment shops. It’s a way to get a good deal and reuse a product!
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Top 5 Ways to Conserve
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Turn it off – When you leave a room, turn off the lights, TV, radio, etc.
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Fluorescent light bulbs – They use 75% less electricity than regular bulbs.
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Energy vampires – Pull the plug on electronics you’re not using, they suck up electricity even when you’re not using them.
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Turn down the heat – Every degree could save 5%!
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Wash clothes with cold water – You’ll save 50% of the energy you’d use with hot water.
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Credit Card Traps
If used wisely, a credit card can be a useful way to build credit and pay for things. After you turn 18 and when you and your parents decide that it’s time for a credit card, choose carefully!
Here are some common credit card traps to avoid:
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Paying late – When you pay late, you get hit with a late payment fee. Try to pay on time, and look for the card with the lowest late payment fee just in case.
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Hidden fees – Balance transfer or cash advance fees are often charged by credit card companies. Look for cards that don’t have these fees.
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Penalty interest rates – Some credit cards will charge a penalty interest rate if you miss a payment. These rates can often be a huge increase over your regular rate.
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Bait and switch – You get a credit card offer in the mail and respond to it, only to have the company switch cards if you don’t qualify for the offer they sent and never tell you!
Find out more about the benefits of a Virginia Credit Union credit card.
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Checking Accounts for Teens
If you don’t already have a checking account, it might be a good time to open one and learn how to manage it. Your parents and the employees at Virginia Credit Union can help you get started on the right track toward financial independence.
At your credit union we offer free checking accounts with:
You can also monitor your accounts anytime with:
Give us a call, stop by a branch or visit the Checking & Savings section of our web site for information and resources on checking accounts.
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Car Buying for Teens Seminar
Sponsored by Virginia Credit Union
Get free pizza and advice on buying a car. Learn how the process works, how your credit can affect your “deal,” and what kind of loan might be best for you.
Thursday, April 10, 2008
6:00 p.m. – 7:30 p.m.
Richmond Technical Center
Room 201
2020 Westwood Avenue
Richmond, VA 23230
Register online. |
Win a $50 Deposit
We want to hear from YOU!
What do you want to read about? Send us your ideas and suggestions for Pocket Change topics. You’ll be entered for a chance to win $50!
E-mail: memsvc@vacu.org
Subj: Pocket Change Comments
Mail: Pocket Change Comments
P.O. Box 90010
Richmond, VA 23225
Get the official rules.
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www.vacu.org |
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