Congratulations!

Congratulations to the following winners of gift cards at yesterday's Member Appreciation Day:

$25 Olive Garden - Diane Rivers and Christy Adkins
$25 Outback - Ken Braddy and Pat Tamburri
$25 Cheesecake Factory - Tina Loudermilk and David Grant
$25 Chili's - Karen Bell and Cordelia Wakefield
$100 Best Buy - Chris Johnson

Member Appreciation Day

Be sure to stop by the office on Thursday, October 21 for Member Appreciation Day. We'll have cookies in the morning, popcorn in the afternoon, and you can register for prizes while you're there. We'll see you then!

Change your driving habits to avoid costly repairs

It's not just your imagination: U.S. thoroughfares are bad and getting worse. According to recent analysis of Federal Highway Administration data, the average annual cost of wear and tear on your car due to rough city streets and highways is $400 a year (TRIP Sept. 22).

TRIP's report shows that San Jose, Honolulu and Los Angeles top the list of U.S. cities with more than 60% of road pavement in poor condition. As a result, drivers in those areas can expect to pay extra annual operating costs of more than $700 a car.

As if that news weren't bad enough, the prospects for short-term improvement appear dismal. The Department of Transportation estimates that planned expenditures for the next 15 years are $189 billion short of what's needed to keep streets and roads in their current condition. Making improvements will require an additional $375 billion.

While you wait for Congress and taxpayers to address those needs, here are some things you can do to minimize year-round pothole damage to your car, courtesy of the Credit Union National Association's Center for Personal Finance:

• Keep your car in shape. Resist the impulse to underinflate your tires, thinking they'll smooth your ride. Tires with less than proper pressure wear out faster and may cause expensive wheel damage. Letting your car's shocks and struts go soft can be dangerous, too; a sloppy suspension reduces your car's traction and braking ability.
• Slow down. Because force equals mass times velocity, doubling your speed doubles the amount of impact your tires and suspension must absorb. Driving slower also gives you more time to take evasive maneuvers if necessary.
• Try alternatives. Don't let force of habit blind you to choices that will prolong the life of your car. Reroute your daily commute to avoid particularly bad stretches of road. Carpool and split the cumulative wear and tear with a co-worker. Better yet, cut down on short trips and use a bicycle or public transportation when convenient.

2010 LifeWay Benefits Fair

LifeWay's Benefits Fair is in CL42 on Tuesday, October 12. We'll see you there!

Do homework before enrolling in a private college

As many Americans try to earn more education to get ahead in the tough job market, more questions are being raised about for-profit colleges. Accreditation issues and high student-loan debt are some indicators that may put up a red flag about a school (USAToday.com Sept. 29).

Many for-profit college students take on mountains of debt while in school. The Department of Education has proposed penalizing for-profit colleges whose students graduate with more debt than they can afford. Congress began a series of hearings this summer to investigate whether federal aid to for-profit colleges is being put to good use.

Protect yourself before enrolling to make sure you're getting what you're paying for in a private school, advises Michelle Dosher of the Credit Union National Association's Center for Personal Finance, Madison, Wis. Here's how:

• Check accreditation--Ask if specific programs are accredited and by whom. For job-specific training, ask if there are licensing or registration requirements beyond the earned degree and if the program prepares students to take any required exams upon graduation. Then verify the information.
• Check graduation, placement and retention rates--The National Center for Education Statistics, Washington, D.C., is a good place to start.
• Search for complaints--Most attorney general offices have consumer complaint divisions that log grievances against educational institutions. If not, state education departments should point you in the right directions. Searching the Web also can turn up information about lawsuits, scams, or accreditation issues.
• Find earning potential--You can find wage data from the U.S. Bureau of Labor Statistics. The Labor Department breaks down information by specific career and location.
• Talk to potential employers--Ask employers if they are familiar with certain private school programs and if they've ever hired its grads.
• Compare community colleges--Community colleges and public, nonprofit technical schools often offer programs similar to those at private schools--and typically at a much lower cost.

You can deal with overdue payments

Although the Federal Reserve reports a drop in total consumer credit card debt this year, it's actually a case of financial institutions writing off more delinquencies (Smart Money Sept. 21).

Consumers who have missed a payment can recover by considering these suggestions:

• Keep emotions out of it. It's best to put aside any feelings of awkwardness or embarrassment when a payment is delinquent--especially if they prevent you from taking action. When dealing with the lender, keep in mind that this is business, not personal.
• Seek help immediately. Don't wait. Consumers who find themselves falling behind should start by meeting with a nonprofit credit counselor. An experienced counselor can explain the options and establish a plan. To find a counselor, contact the National Foundation for Credit Counseling (nfcc.org or 800-388-2227) or ask for a referral at your credit union.
• Start a debt repayment plan. Settlement and bankruptcy are rough on a credit score. Consumers who can make their minimum payments should opt for debt management plans. Often, a credit counselor can negotiate a plan that employs a reduced interest rate and a realistic payment schedule.
• Avoid debt-settlement offers. In the past, debt-settlement companies have been a trap for consumers more often than a helpful service. Many of these companies charge large fees for services you can do yourself.

Save money with our home equity specials

Struggling under the weight of heavy expenditures, like home improvement projects, medical bills, tuition, or even a family wedding? A home equity loan from LifeWay Credit Union may be just the financial muscle you need.

A home equity loan gives you up to 90% of—you guessed it—the equity in your home. Since your house secures the loan, the interest rate is much lower than what you'd pay on a credit card or personal loan.

And the rate is even more competitive at your credit union than other financial institutions. Our variable rate home equity line of credit has an introductory rate of just 2.9% for the first six months, with terms up to 15 years.* And our fixed rate home equity loan has a rate of just 4% for up to 5 years.

Here's what makes our home equity loan such a smart way to pay off your big expenses:

·The potential for tax-deductible interest (consult a tax adviser)

·Low interest rates

·Personal service to help you match your goals with your budget

Why look elsewhere for a home equity loan when your credit union membership can get you the money you need, for less?

Call us today at 615-251-2089 and exercise your right as a member to lower borrowing rates. Your credit union membership could be the beginning of a whole new you.

* See loan officer for details