Happy Holidays from TFCU!

Tropical Financial Credit Union (TFCU) wishes you and your family a safe and happy holiday and new year!

New & Used Auto Loans from 2.99% APR

Finance your new or used auto loan with Tropical Financial Credit Union and take advantage of rates as low as 2.99% APR for up to 60 months, with up to 100% financing for qualified buyers!

Apply for a New or Used Auto Loan Today!

Community Comes Together After Fatal Crash

A mother from west Kendall is all too familiar with loss. She is mourning her son, Andy Oquendo's November 19th fatal car crash after already losing her daughter and husband.

Friends of Andy convinced two Smoothie King locations to help raise money for the family and are planning a benefit concert at Andy's high school.

To donate to the Nilsa-Oquendo Fund, please visit a TFCU branch or call for more information at 305-261-8328 or 888-261-8328 outside Miami-Dade.

Tips for Holiday Shopping

We are in the midst of the busiest shopping weeks of the year. Odds are, you will be heading to the mall or shopping online to get the best deals this month.

Here are some holiday shopping tips from the Federal Trade Commission (FTC) to help protect yourself and your purchases while shopping online:

1) Know who you are dealing with - Only purchase from legitimate retailers. Make sure the company has contact information and research their reputation online.

2) Know what you're buying - Online purchases have the disadvantage of not being able to physically handle the product before buying. Make sure you read the product description and be sure the item is in good condition.

3) Know what it will cost - Use price comparison sites to be sure you are getting the best deal and be sure to factor in shipping costs.

4) Pay by credit card - When paying by credit card, purchases are protected under the Fair Credit Billing Act. Never pay cash for online purchases!

5) Read the fine print - Be sure to read the terms and conditions of the sale, including the return policy.

6) Keep records - Print and save records of online transactions and monitor credit card statements frequently.

7) Don't email financial information - Legitimate companies will not ask you to email them personal or financial information including credit card numbers and Social Security numbers.

8) Check the privacy policy - You should be aware of what information the retailer is collecting about you as well as who the information is shared with and for what purpose.

Apply for a mortgage refinance by 12/31/10 and get $400 off your closing costs at Tropical Financial Credit Union (TFCU)!

Refinancing your mortgage can lower your monthly payment, change your interest rate, and provide you with cash in hand.

Don't delay, apply today to take advantage of this limited time offer!

"Fall" In Love with a TFCU Auto Loan

Fall is in the air and TFCU is bringing in the season by offering rates as low as 2.99% APR on new & used auto loans!

PLUS, refinance your current auto loan and get up to $300 cash back!

For more information please call 305.261.8328 or 1.888.261.8328 outside Miami-Dade.

Apply today!

Legoland Florida Theme Park to Open October 2011

Legoland is the newest addition to the endless list of attractions Florida has to offer tourists and residents. The new theme park, located in Winter Haven, Florida, will open in October 2011 and will feature over 50 rides.

Winter Haven is located about 40 miles from Disney World and is easily accessable from both Orlando and Tampa.

Legoland Florida will offer a much needed boost to Florida's economy with increased tourism and may help stabilize Florida's economy.

5 Bad Money Habits You Should Break

How good are you at managing your personal finances? Here are 5 bad money habits you may fall into, especially when money is tight in this recession, that you should break:

1) Not opening bills when they arrive - It might not be fun to open bills right away, but by putting off the inevitable you risk forgetting about the bill and incurring late fees as well as damaged credit history.

2) Thinking that it's ok to have debt because "everyone else" does - Just because other people have debt does not mean that they are going to pay that debt for you. Everyone is responsible for their own debt and should be aiming to be free of debt.

3) Investing in schemes to make quick cash - These are often scams. Trust the old adage, "if it seems too good to be true, it probably is".

4) Living for today and paying for it tomorrow - Tomorrow arrives sooner than you think and you will have to pay for your spending sooner than later.

5) Using your credit card for impulse purchases - Don't treat your credit card like free money. A good rule is to wait 24 hours before making purchases on your credit card to avoid making impulse buys.

Florida Gets $800 Million for High-Speed Rail

Florida is getting another $800 million in stimulus money to build a high-speed rail from Orlando to Tampa.

The project is estimated to cost $2.6 billion, and the additional $800 million will bring Florida only $300 million away from this estimate.

It is believed that the high-speed railway will help Florida's economy by providing construction and operational jobs, as well as increasing tourism and travel throughout the Central Florida region.

Plans are also in the works of extending the high-speed railway to connect Orlando and Miami.

Florida's Unemployment Rate Reaches 11.9% in September

Florida's unemployment rate reached 11.9% in September, up 0.2% from August.

There was a year-to-year gain of 27,200 jobs in September. However, Florida residents lost 11,000 jobs from August to September, after losing 16,000 jobs the month before.

NCUA Phishing Email Alert

ALERT!! Beware of emails posing as the National Credit Union Association (NCUA) which may be phishing scams. The bogus emails state that the NCUA will add $50.00 to the member's account for participating in a survey. The link in the email redirects to a counterfeit version of the NCUA's website and features a survey which asks you to provide your credit card information and other personal information.

If you are a member who has received this fraudulent email, please forward the entire message to phishing@ncua.gov

NEW & Improved Online Banking from TFCU

COMING SOON is Tropical Financial Credit Union's (TFCU) NEW & improved online banking platform. TFCU is committed to staying up to date with the latest technology; that is why we are redesigning our online banking homepage.

Beginning Thursday, October 14th, 2010 you will be able to:
1) Review all accounts, balances and transactions from a single page
2) Put money in your pocket with a new rewards program
3) Track expenses and spending with an easy-to-read chart
4) Pay bills on-time
5) Make instant transfers between accounts
6) Review recent transactions through an new account history page

For more information about TFCU's online banking changes take a virtual tour here.

Florida Home Sales Rise, Prices Fall

Since the homebuyer tax credit expired in May, Florida's real estate market has been slow to recover. But home sales in Florida rose 1% from August 2009 to August 2010 and condo sales had an even greater increase of 22% statewide.

Although home sales have increased, median home prices have fallen 9% over the last year.

Florida Unemployment Rate Reaches 11.7%

This August, Florida's unemployment rate climbed to 11.7%, up from 11.5% in July of this year. This means that approximately 1 million of the 9.2 million Florida workers are jobless, according to the Florida Agency for Workforce Innovation. Florida's unemployment rate is now 2% higher than the nation's average.

The state lost 16,000 jobs last month, with the biggest losses in sectors such as construction, manufacturing, real estate and government.

4 Tips for Personal Finance Success

Most people don't think of themselves as a business, but truth is, when it comes to personal finance, you have been in business with yourself since birth. The same principals that come from business budgeting can be applied to managing your personal finance.

Here are 4 tips for successful personal finance:
1. Remove emotion from financial obligations - This will help you come up with practical solutions to problems and remove stress and other emotions from mounting bills and income worries.
2. Stay on top of things - Don't wait for bills to pile up and situations to become unmanageable. Be proactive and take care of bills as they arrive.
3. Budget - Learn new budgeting and financial planning skills and put them to use.
4. Be organized - Use software or keep a spreadsheet of your spending so you can see where your expenses can be better spent.

Open a Health Savings Account (HSA) with TFCU

Open a Health Savings Account (HSA) with Tropical Financial Credit Union (TFCU) today and earn 3.00% APY plus other benefits like less taxes and more control of your healthcare spending.

A HSA is a savings account for members of the South Florida Credit Union who are enrolled in a High Deductible Health Plan (HDHP). The HSA allows you to pay for current healthcare expenses and save for future medical expenses.

Value Businesses Expanding in Florida

McDonalds, Dollar Tree, discount grocery store, Aldi, and other "value" businesses are among the few businesses expanding in Florida. This is attributed to the slow economic recovery of Florida, paired with consumers trying to find the best deals. McDonalds plans to build and renovate 20 stores this year and Dollar Tree plans to open 5-10 stores in South Florida this year. With the recession in full swing, "value" is where the Florida economy is finding expansion.

5 Tips for Managing Your Finances

Managing your finances in recessionary times can be difficult, but it is also essential for keeping a balanced budget.

Here are 5 tips for managing your finances:

1. Make a list of your expenses and income - You have to know if you are taking in more than you are spending.
2. Identify budget allocations which can be eliminated or reduced - Consider cutting budget allocations for dining out or trips to the spa.
3. Keep an eye on your credit cards - Be sure to make monthly payments on credit cards and do not use them to forgo debts.
4. Enjoy simple pleasures - Reward yourself by doing inexpensive things such as going to the beach or going to the park, or get together at a friend's house instead of going out to a bar.
5. Save - As much as you can, even if it's only loose change or a couple dollars a day.
   

How to Buy Foreclosed Homes

In this video, Vera Gibbons discusses how to buy foreclosed homes in today's buyers market. Florida home prices are down 30% from the peak in 2006 and the amount of foreclosures have made this a buyers market.

South Florida Home Values Drop From 2009

South Florida home values dropped further than 25 other metropolitan areas in Q2 of this year, falling 15% since 2009

Median home values in Miami-Dade, Broward and Palm Beach County are now priced at $146,500, down 7% from the beginning of 2010 and 52% from 2006's peak values.

With real estate values still on the decline, it comes as no surprise that 44% of South Florida homeowners' mortgages are "underwater," meaning they owe more on their loan than the house is currently worth.

Winn-Dixie Closing South Florida Stores

The economy has claimed another victim, Winn-Dixie and over 120 employees of the grocery chain. The company is planning to close 35% of its stores nationwide, including 13 South Florida stores.

Stores in Boca Raton, Deerfield Beach, Delray Beach, Ft. Lauderdale, Greenacres, Lake Worth, Loxahatchee, Plantation and Pembroke Pines will close their doors for good on September 22, 2010.

Brazilian Tourists Flock to South Florida

In the midst of the South American nation's economic boom, Brazilian tourists are flocking to South Florida and are spending more than other tourists. This increase in visitors is influenced by the strength of Brazil's currency, easier visa approvals and more flights to Florida.

Brazilians are now the third most popular international tourists, after Canadians and Brits. Brazilians also tend to stay longer and spend more than other tourists visiting South Florida. Last year, when the number of tourists to Florida dropped overall, the number of Brazilians visiting the state rose 29% and their spending increased 36%. In the first quarter of this year, South Florida saw 272,000 visitors from Brazil.

U.S. Set To Announce Everglades Restoration Project

The U.S. Department of Agriculture and the Federal Government are set to announce a major Everglades Restoration project Monday for a portion of the Florida Everglades.

The project is designed to restore and protect the wetlands and improve water quality in the northern Everglades, providing habitats for the area's endangered species.

LeBron James May Boost Florida Economy

LeBron James announced Thursday night that he will be joining Dwayne Wade and Chris Bosh on the Miami Heat. Immediately after the news leaked, season tickets were sold out, signaling the tourism and economic boom that the basketball superstar will bring with him to South Florida.

Here are 10 Ways LeBron James will Impact the Florida Economy:
1. Merchandise Sales
2. Ticket Sales
3. Sponsorship Sales
4. TV Revenue
5. Downtown Miami Development
6. Shopping Malls
7. South Beach
8. Job Applications
9. Other Sports - Let's go Marlins, Panthers & 'Fins!
10. Media Outlets

Opt-In for Overdraft Protection or Say Goodbye to Overdraft Fees

Effective August 15, 2010 Tropical Financial Credit Union will no longer pay overdrafts on ATM or debit card transactions unless you opt-in for overdraft protection. This is a result of recent regulatory changes to consumer accounts.

The good news is this means the end of overdraft fees! Instead of TFCU paying for your overdraft and charging you a fee, your transaction will simply be declined if you have not opted in for overdraft protection.

A great way to protect yourself against overdrafts and embarrassing declines is to link your checking account to your savings account. Whenever you overdraw your checking account, TFCU will automatically transfer money from your savings account to cover the transaction, without charging a fee.

Pay Your Bills Online with TFCU!

Pay your bills the easy way with online bill pay from Tropical Financial Credit Union (TFCU).

Here are a few reasons to consider paying your bills online:

• Pay anything from credit cards to car payments, and even your babysitter!

• Enjoy savings of up to $100 a year in check and stamp costs.

• Never miss a payment or forget your password with 24/7 online access to all of your bills in one place, under one password.

• Your personal information is secure, safe and private.

• Plus, save trees and reduce clutter by eliminating the need for paper bill statements.

Experience the difference. Sign up for online bill pay today or visit TFCU for online bill pay FAQ's.

It's a Buyers Market, Why Rent?

If you are currently renting, you may want to think about taking advantage of the buyer's market. Now is the time to purchase a home at record low prices and finance your mortgage with a fixed rate loan as low as 4.75% APR from Tropical Financial Credit Union (TFCU).

Plus, when you apply for a fixed rate mortgage from TFCU you will be entered to win a $1,000 IKEA Gift Card to furnish your new home!

South Florida Foreclosure Filings Down 49%

May 2010 showed a 49% decrease in the amount of foreclosure filings in South Florida compared to May 2009.

In May 2009, 8,350 foreclosures were initiated in the tri-county area. But last month, only 4,250 tri-county homes filed for foreclosure.

Foreclosure filings are down 50% in Miami-Dade County, 55% in Broward County, and 36% in Palm Beach County.

This decline in foreclosure filings is attributed to South Florida lenders' efforts to modify mortgages and accept short sales.

Oil Spill May Have Effect on Florida Beach Tourism

Florida has had it rough the last few years, with the real estate crisis and a drop in tourism due to the recession. But it looks like Florida may take another hit with the BP oil spill. A supercomputer simulation (see video below) has projected that the gulf oil spill will make its way to the East coast of Florida and up into the jet stream. This will have a tremendous effect on Florida's Atlantic beaches and could spell trouble for summer tourism. Reports of beach vacation cancellations are already coming in as tourists try to avoid the spill.

Tropical Financial Credit Union Art Show & Sale

Join us for our Tropical Financial Credit Union Art Show & Sale!

The event will be held on Thursday, June 3, 2010 from 6-8:00 PM at 1201 N. University Dr., Coral Springs Fl. 33071

The art show will feature art by The 9 Muses.

All proceeds and donations from the art fair will benefit The Mental Association of Broward County. TFCU is not affiliated with The 9 Muses.

Florida's Unemployment Rate Drops in April 2010

Florida's seasonally adjusted unemployment rate for April 2010 is 12%, down from March's 12.3%. This is the first time Florida's unemployment rate has gone down since February 2006, signaling a possible shift in the job market.

Even so, 1,113,000 out of 9,282,000 Floridians in the labor force are still jobless and the state still has a long way to go before unemployment rates return to normalcy.

Nationally, the unemployment rate rose from 9.7% to 9.9%; but this is not bad news. The unemployment rate does not take into account hidden unemployment, or discouraged workers who have given up on the job search. Many of the 9.9% were discouraged workers who regained confidence in the job market and have begun to look for work again.

Top 5 Banking Annoyances

Harry Smith and Vera Gibbons discuss the top 5 things that drive us crazy about banks!
1. Fees
2. Lack of Disclosure
3. Changing Interest Rates
4. Low Savings Rates
5. Poor Customer Service

The Advantage of Credit Unions

Would a credit union be a better alternative for you? The Early Show's financial contributor Vera Gibbons compares banks and credit unions.

Bank vs. Credit Union Novella Parody

Check out this hilarious novella parody which explains the difference between banks and credit unions:

How to Get Your First Auto Loan

If you're considering getting an auto loan, you definitely need to watch this.

The Difference Between Credit Unions & Banks

Do you know what the difference between a credit union and a bank is? The differences might surprise you!

How to Protect Your Home This Hurricane Season

With Hurricane Season right around the corner, it is time to start breaking out the shutters, stocking up and getting ready to "hunker down."

But how can you protect your home from damage this Hurricane Season?

• Check Your Roof for leaks and other damage that could leave it susceptible to the rain and wind. Make any repairs before Hurricane Season is in full swing.

• Protect Your Windows with shutters or plywood to shield against airborne objects and extreme wind.

• Trim Your Trees to protect against branches breaking off and becoming airborne during a storm.

• Secure Outdoor Furniture by either tying it down or bringing it inside.

As always, make sure to stock up on bottles of water and non-perishable goods, as well as any medicine you may need. It is important to have flashlights and a battery powered radio (with plenty of extra batteries). You may also want to consider investing in a generator in case of a loss of power after a storm.

Tropical Financial Credit Union Provides Jobs for All Skill Levels That Turn Into Careers

Have you considered a career at Tropical Financial Credit Union? There are career opportunities from entry level skill levels to higher skill levels, and Tropical Financial Credit Union provides training to help their employees learn and grow in a career.

TFCU Mortgage and Auto Loan Rap

Take advantage of better mortgage and auto loan rates at Tropical Financial Credit Union.

Mortgage Time with Bob Green

Bob Green, VP of Lending at Tropical Financial Credit Union, explains why home sales in Florida are on the rise. Mortgage interest rates are at all time lows but are increasing due to expected economic growth.

First Time Home Buyers Love TFCU's Fixed Rate Mortgages

First Time Homebuyers can count on Tropical Financial Credit Union for an easy to qualify for fixed rate mortgage. Our mortgage officers will help you find a loan that will remain affordable for the duration of the loan. Let TFCU help make your dream home a reality.

Contact a TFCU Mortgage Representative Today!

What is a Credit Union?

A credit union is a financial institution that works differently from a bank.

Individuals join as members of a credit union because of a region they live in or company they work for. Credit unions typically offer the same services as banks, including deposits, loans and mortgages at lower rates.

The reason credit unions can offer lower rates than banks is because they are not for profit organizations. This means that credit unions do not have to pay taxes and can offer fewer fees and lower rates to members.

Being a member of a credit union also has the advantage of owning a portion of the company, and receiving a portion of the profits. Members are also able to vote on important matters in the credit union, including the Board of Directors.

TFCU Is Giving Away $250 Cash!

Forget about robbing the bank, Tropical Financial Credit Union is giving away FREE money!

For a limited time only, when you open a Business Checking Account with TFCU we will give you $50 cash.
Plus, refinance your auto loan with us and we'll throw in an extra $200 cash on top of our already low rates!

That's $250 of FREE MONEY!

Celebrate Financial Literacy Month with TFCU

April is Financial Literacy Month!

But regardless of what month it is, you can make a commitment to your financial literacy.

In honor of the 30 days of April, the folks at Money Management International put together a 30 step path to financial wellness. Take the first step today and begin your journey to financial stability!

Stimulus Spending has Helped 153,000 Florida Workers

A year ago, Florida expected to receive $12.5 billion from the stimulus bill. Now the estimate is up to $19.5 billion, as 153,000 Florida workers' jobs have been either saved or created as a result of stimulus spending.

Although Florida still suffers from a rising unemployment rate, currently at 12.3%, conditions would be much worse without the federal spending which extended unemployment benefits and created job opportunities for Floridians.

The stimulus bill has helped save or create jobs for 2.8 million workers nationwide.

Great Deals on New Wheels - TFCU's BIG Auto Sale!

Get great deals on a set of new wheels at Tropical Financial Credit Union's Members Only Auto Sale!

Visit one of our participating dealerships Friday, April 23rd through Sunday, April 25th and take advantage of members only perks including rates starting at 3.99% APR up to 72 months, 2% over invoice, no dealer fees, and of course special pricing for TFCU members!

For more information and a list of participating dealerships, visit Tropical Financial Credit Union.

South Florida Real Estate Market in Recovery

Driving around South Florida, you will notice significantly fewer "For Sale" signs than just a few months ago. A signal that the South Florida real estate market is on the road to recovery, thanks to bargain deals, cheap financing and federal tax incentives.

Newly released real estate figures show single-family home sales are up 47% and multi-family condo sales are up by 81% from 2009. This suggests that the real estate market is beginning to stabilize in South Florida.

5 Reasons to Refinance Your Auto Loan with TFCU

Tropical Financial Credit union gives you five reasons to refinance your auto loan. If you refinance your auto loan with TFCU you could:

1. Use the available equity to pay off high rate debt
2. Extend your term and lower your monthly payments
3. Lower your current auto loan rate
4. Make no payments for 90 days
5. Get $200 CASH!
   

Beware of Tax Preparer Fraud

Tax preparer fraud occurs when tax return preparers claim inflated business or personal expenses, including false deductions and excessive exemptions. Tax preparers may also manipulate income figures to qualify for fraudulent tax credits, such as the Earned Income Tax Credit.

In many situations, the taxpayer is not aware of the fraudulent tax preparation, but is still held responsible for the false return by the IRS.

While there are a great deal of reputable tax preparers, the IRS urges taxpayers to choose wisely in order to avoid additional taxes and penalties.

For helpful tips to avoid tax preparer fraud visit the Tropical Financial Credit Union website.

TFCU Breaks Ground on NEW Pembroke Pines Branch Location

Tropical Financial Credit Union breaks ground on the NEW Pembroke Pines branch location!

Is A TFCU Career Right For You?

Do you love your credit union? If so, here's your chance to begin your career with TFCU. Tropical Financial Credit Union is a non-profit financial institution and our employees have been serving members of South Florida for over 70 years. Interested in becoming one of them? TFCU is looking for talented prospective employees to fill entry level and higher positions. If you think you have what it takes, watch our employment video to learn more.