Best Credit Union in Mesquite

Most folks like to say or think that the organization that they work for is the best.  Heck, we all have our favorite sports teams and all – “We’re # 1″.  You hear the fans chanting it from the stands.  Okay, yelling it from the stands.  Well, I can actually say that Resource One Credit Union is # 1. 

Resource One Credit Union has been named the Reader’s Choice, “Best Credit Union in Mesquite”.  This honor was bestowed upon us by the readers of Star Community Newpapers.  Out of over 4,000 ballots cast, we won in this category.  This newspaper, over the past 20 years, has awarded this honor to one organization in a specific category, and Resource One Credit Union was voted as Best Credit Union in Mesquite, Texas.

The real honor for Resource One Credit Union is that the community of Mesquite has voted us as the Best Credit Union.  That is what really matters here, not the award itself but that the community thinks so highly of our credit union.  

A special shout out goes to the employees of the Mesquite Branch who make it all happen every day.  If you get a chance, you should congratulate them on this achievement the next time you are around the branch.  Come out and experience what so many of our member/owners experience every day.

For complete details on all winners of the Reader’s Choice Award, you can pick-up the Reader’s Choice supplement in the Mesquite News Star Newspaper the last week of September.

We are # 1 - so are you at Resource One Credit Union!!!

 

- Phillip

New Laws Go Into Effect on September 1st

642

Do you know what that number represents?

That is the number of new laws  that go into effect tomorrow, September 1, 2009.  Looks like our State Legislature was busy this past year, or session.  I should know more about how that stuff works.  Anyway, you can see that a lot of changes have come down the pipe.  So which ones will apply to you directly, well they all could at some point or another.  Hopefully, most of them will not impact you personally.

Go ahead and click-on the link above; if you have the next several days off of work and life to read all of those new laws.  So what should you do as a citizen of this great state to be informed?  Well, there are probably a zillion sites up and running with snippets here and there of the new legislation.  Here is one that I found that that you may find of good use.

Traffic & Criminal Laws

If you have time, try to Google the subject.  There are many resources out there to help you become better educated.  Remember that old saying, “Ignorance of the Law is No Excuse.”

- Phillip

Did You Clunk Your Clunker?

Seems like this was the talk of the town.  Heck, you could even say the whole country.  The “Cash for Clunkers” program was launched just about a month ago.  The program was so successful that they even had to go back to the national piggy bank and get more funding.  CNN Money had a great follow-up piece today with lots of stats.

Depending on which side of the political fence you set on, you may think that the program was good for the economy or bad.  I don’t claim to know much either way on the subject.  But here is what I do know.  I know that I was about three months too early in buying my new vehicle.  Don’t you hate it when that happens?

I imagine that those who were able to get rid of there clunkers were mighty happy with the incentives.  I would have enjoyed another $3500 – $4500 off my purchase price.  But I had planned to make my purchase without the premise of getting an extra incentive.

Here is a question: How many people went out and took advantage of this program and put themselves into more personal financial peril.  That is the kind of stuff that comes across my mind.  Hopefully, everyone who just incurred another debt looked closely at their cash flow.  Perhaps the federal government will keep track of how many folks default on their new car notes.  (Yeah Right) 

My point for this whole exercise is for people to examine all the reasons why or why they should not trade in that used vehicle.  Something can be said for not having a car payment each month.  (Did I just say that outloud? Shhh – I work for a financial institution.)  From the video feeds on the news, some of those vehicles waiting for destruction did not look that bad.  I imagine the car dealerships liked the idea.  Good way to get rid of some of that new inventory, times have been tough lately.   That was the whole reason for this program in the first place. However, I suspect they never thought it would take so long for reimbursement.  Another silver lining is all those folks who sell car insurance.  Agents were probably frothing at the mouth over all the fees they could charge for writing up new policies.  Then you have all the extra incentives for writing policies for vehicles with higher replacement costs.  Did the consumer really think it all through when they heard about this deal? How much did their car insurance go up?  Yes, there is the gasoline savings – duh.  However, now they have a new debt – insurance just went up – paid fees for rewriting policies – new titles – and taxes…don’t forget the taxes.

Hindsight is most always 20/20 right???

Leaving on a positive note: Congratulations to all of you with new vehicles – enjoy them!!!

- Phillip

Tax Free Weekend – State Finally Gets It Right

It is that time of year again.  Time when the kiddos go back to school and the carting around of those kids comes into play.  For the past so many years, our State Government has offered a tax free weekend.  That is a time when parents can take advantage of back to school items (tax free) at a distinctive advantage.  In past years, the government has had a specific list of items that get this tax free benefit.  Problem was that those items that you thought were on the list were in fact not on the list.  Folks have complained for years and someone in the State Legislature finally heard those concerns. 

This year school supplies are on the list of tax-free items.  (Hooray!!!)

Please take a look at the following website for complete details on what is eligible for tax-free status and what is not.

 

Good Luck – and let’s go shopping!!!

 

- Phillip

Marriage & Money

Wow, what a topic.  Anyone that is married has at one time or another had an argument, debate, or down and dirty talk about their finances.  It just comes with the territory.  If you have never had any of those types of discussions with your significant other, then y’all are the huge exception to the rule.  If that last sentence applies to you, then please sound off on this topic and school the rest of us.  What are your secrets to success?  I wish I had the answers to everyone’s marital and money problems.  I am a financial counselor who often gives guidance on this subject matter; or at least the financial part of the equation.   I have to remind my clients that I am not a marriage counselor.  What I have found over my career is that each financial situation is unique.  I have also found that each marital relationship is unique.  The lucky part for most though, is that many financial situations are similar enough in nature to one another that some good guidance can be given to the couple.  There are some basic assumptions one could garner from trusted literature on this subject matter.  Even then, one source says, “do this” and another trusted source says, “don’t do that”.  Give me a break – can you eat eggs or not eat eggs.  Sorry, I went out to far left field.  Hopefully, you get the point though.  It is difficult to cipher through all the information when you don’t know whom to trust.

So what would be some good guidance to follow or learn from?  I have found many sources to support how I approach finances and couples in question.  I have tried to bring fourth two differing opinions for comparison.  I like for folks to come up with their own conclusions.  However, I do like to make sure the message is still applicable to most folk’s financial situations.  Here is one Article that has some great information and would be worth the read.  In comparison on schools of thought, here is Another Article and it’s approach to the situation.

So you might be thinking to yourself, “What do you suggest couples do when it comes to marriage and money?”  Glad, you asked…here is what I think.

I think you know the dynamics of your relationship far better than any financial advisor or counselor.  I believe that you can get some basic information on how to “deal” with the situation from a trusted source.  However, in the end it all comes down to applying what you have learned about marriage and money from that source.  Like every other transformation you wish to make in your life, financial transformation is no different.  You can get guidance and have a plan, but nothing happens until you actually apply that guidance or plan.  This is the one thing that you really need to concentrate on for change.  The plan and guidance is the easy part, but the execution is the most critical step.  Some folks make a lot of money telling others, “How To” do something.  What a shame…get the most of your time and/or money.  You must execute on that guidance or plan.  Don’t just get the plan and do nothing with it.  The sad part is that most people have the knowledge already; they just decide to do nothing with it. 

So what do I believe on marriage and money?  Get some help from a trusted source, and come up with a game plan.  Then most importantly, execute that game plan for your marriage’s sake.  Money and marriage is a tough topic and should be treated that way by all involved.  If you should need some guidance to put together a plan, then please feel free to contact me.  My contact information can be found right next to this article on the side bar.

Good Luck,

- Phillip