Saving money can often be a challenge—especially during times of financial uncertainty. As humans, we’re wired to take care of our needs now, and worry about later… well, later.
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Financial Health
Taking control of your financial health starts with education.
15 Clever Ways to Cut Costs
During our recent webinar presentation, Money Management in Turbulent Times, we asked our attendees to collaborate and share their top tips for cutting costs. Cutting costs is an important strategy for stretching your budget so you can pay your debt down faster or hit your savings goals quicker.
Understanding Tax Brackets
There are many misconceptions about how marginal tax brackets work and how they impact your federal tax return. This is what you need to know:For the 2020 tax year (to be filed by in 2021), the IRS set marginal rates of 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your tax rate depends on your filing status (single, married filing jointly, married filing separately, or head of household) as well as your taxable income.
Federal Tax Filing Season Starts Soon
The IRS has announced that the federal income tax filing season for tax year 2020 returns begins on Friday, February 12, 2021. Although tax seasons frequently begin in late January, the additional time will allow the IRS to update its programming and test its system to take into account any changes made by the Consolidated Appropriations Act, 2021 (CAA 2021), signed into law on December 27, 2020. Last-minute changes to tax law have already been included in IRS tax forms and instructions.
Top 10 Identity Theft Myths
In today’s world it is more important than ever to focus on the things that we can control to better safeguard our financial future. It’s easy to get complacent, lulled into a false sense of security, when there are many other more urgent things to think about.
Beware of Sweetheart Scams
Sweetheart scams, also known as romance scams, are becoming increasingly common as people seek out connections online. The FTC reports that Americans lost over $209 million to sweetheart scams in 2019 — which is 40% more than reported the previous year.
Federal Student Loan Relief Scheduled to End
This is a good time to check in with your loan servicer to ensure you’re on a payment plan that fits your situation. Our partners at GreenPath recommend you do this soon; when loan payments resume, the government will be activating 30 million borrowers at one time, and you may find it difficult to reach your loan servicer.
What to Know About Your Second Stimulus Check
On December 29, the Internal Revenue Service and the Treasury Department announced that they are beginning to distribute the second round of Economic Impact Payments, also known as a “stimulus check,” as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier this year.
Synthetic Identity Theft
The holidays are upon us, and so is the increase in risk for identity theft. Fictional characters are a big part of the season, but sadly they’ve also become a big part of identity thieves’ tool kits as well. According to a Federal Trade Commission Report, over the last five years, Synthetic Identity Fraud has become the fastest-growing type of financial crime in the United States and accounts for 20% of the credit-related losses.
Online Holiday Shopping — Buyer Beware!
The rise of online shopping during the pandemic has led to a proportional increase in online fraud and scams. As the Holiday season approaches, we want to make sure you are armed with the knowledge and the skills to protect yourself. With a little awareness, you can avoid online shopping fraud as the busiest time of the year for retail shopping is shifting into high gear.
Recent News
Make the Switch to HomeFREE Checking in 4 Easy Steps
With our new Online Account Opening service, moving to SESLOC Credit Union has never been easier — bring it home in just 4 easy steps:
Introducing Save to Win, a New Way to Save
We’re introducing a new way to save to help you develop healthier saving habits in a fun, unique way. With a Save to Win 12-month share certificate, every time you make a deposit of just $25 (up to 10 entries per month), you’ll be automatically entered in a monthly and quarterly prize drawing for a chance to win up to $5,000. Terms, conditions, eligibility and restrictions apply.
Member Services Expands with Live Chat
Now you can chat with a SESLOC Member Services Representative online on mobile or desktop. Whether you have a question about your account, products, services, you can get a response in real-time.
Member Security Enhanced with ID Scanning in Branch
SESLOC is now scanning personal information cards (ID) if you do no have one already on file or when you have a new ID upon expiration. We have implemented this security measure for your protection as we work towards eliminating the need to provide a verbal password when visiting a branch. It will also speed up transactions, saving time while at the branch.
International Credit Union Day Celebration
In alignment with the people-first philosophy of credit unions, SESLOC offers higher rates of return on savings accounts, lower rates on loans and lower fees than other financial institutions. With 53,000 members strong, we’re truly making a difference on the Central Coast. On October 17 we had special treats and gifts to celebrate members.