A lot of these members were used to the easy banking style of WaMu and seem to be having a hard time adjusting to the strict style of Chase Bank.  They come to MCCU and are excited to once again have easy and courteous banking….and our great products (free checking with a free box of checks, Platinum Membership, etc..). After talking to many of these new members and asking them how their other banking experiences have went, they have indicated that there is zero flexibility with Chase customer service.

Have you experienced this at your bank? If so, join a credit union! You will feel like a person here, not a number. Banks have shareholders who they want to please which is why their profits are so important. Credit Unions only have their members – you – to please, which is why we usually have fewer and lower fees.  Plus, we have the same amount of federal deposit insurance as banks…in fact, with the new Banking bill, your $250,000 NCUA (National Credit Union Administration) insurance limit is now permanent!

So if you are frustrated or unhappy with your Bank give a credit union a try!

All you have to do is go here, enter a valid email address (they will send an email to you to validate it) and start voting! But hurry – voting ends on Sunday, July 4th!

And, of course, don’t forget to vote for Matadors Community Credit Union under Goods & Services! We are proud to have won in 2008 and 2009 and want to make this a trifecta! Happy Voting!

The Kiwanis Club of Northridge, NORTHRIDGE1OO, the Neighborhood Councils and the North Valley Regional Chamber of Commerce (NVRCC) have joined forces to make sure this yearly celebration of Northridge continues. This year is the Centennial year for the community of Northridge. While you’re enjoying the festival, stop by the Northridge100 booth to see old photos of Northridge, and learn about all the fun things to see and do throughout the rest of the year to celebrate our 100th! Bring a favorite photo of an event, place, or occasion celebrated in Northridge! MCCU is a proud supporter of Northridge100!

The weekend festivities begin at Friday night’s 50+ Senior Dance, an event hosted by the Senior Citizens Council of the North Valley Regional Chamber of Commerce, a favorite of the community. Through the weekend, the NVRCC sponsored BUSINESS EXPO introduces you to friends and neighbors who do business in and around Northridge.

The Northridge Ho`olaule`a returns with the spirit of Aloha. Bring the whole family and your low back lawn chairs for outstanding Polynesian dance, music, and more than 50 one-of-a-kind Polynesian food booths and boutiques.

Saturday’s Polynesian entertainment culminates at 6pm with special guests, “Guitar Romantica” and their unique guitar stylings … surprise special guest artists at 7 and 8pm, and then a spectacular fireworks extravaganza presented by the Neighborhood Councils of Northridge East, Northridge West, Winnetka and Reseda at 8:45pm.

This year’s event continues to have all your other favorites, including the Children’s Village, International Food Booths, two stages of non-stop entertainment, Carnival Rides and Games, an arts and crafts festival, and the Northridge Kiwanis Beer Gardens (adults only!).

NORTHRIDGE PARK is located at 10058 Reseda Blvd. Northridge, 91324. Daytime activities begin both days at 10:00 AM.

For more information, call (818) 756-8060

Basically, they’re saying that “Too-big-to-fail banks are profiting from bailout dollars and government guarantees, and growing bigger.” And, much like It’s a Wonderful Life, they are urging consumers to move their money from the big banks to smaller community banks. Initially, there was no mention of credit unions. However, after several readers wrote in (myself included) suggesting Huffington steer consumers to credit unions as well, they are now doing just that.

The “Move Your Money” campaign has gained national popularity in such a way that I really wish we could measure how many people actually do move their money to community banks and credit unions.

If you are moved (pun intended) by this campaign, please consider moving your money to MCCU or a local credit union in your area. Remember, credit unions have the same insurance limits as banks, all federally insured by the National Credit Union Administration, or NCUA. Most credit unions, like MCCU, offer everything a bank does, oftentimes with lower fees and better rates/programs. Looking for a loan? Check with your local credit union first.

If you are still with a “big bank” and want to move your money, consider a credit union first.

Questions or Comments? E-Mail me at blogger@matadorsmoneymatters.com.

Though it will be “temporarily suspended” while they reformat the program, the White House has confirmed that the Cash for Clunkers program will be good through the weekend, or Sunday, August 2nd.

Despite this “promise” from the Obama Administration, I hear from local dealers that some have already stopped accepting clunkers because they have not yet been paid by the government for any that they have received. So, make sure you call the Dealership before you go shopping this weekend to make sure they are on board with the program.

Basically, the program was more popular than our friends in D.C. anticipated. Approximately 40,000 new vehicles had been purchased through the program but dealers estimate another 200,000 vehicles have been sold in transactions that have not yet been completed. They are seeking out alternative resources for funding the program, and hope to have it up and running soon.

For more information, here is a good article on what’s going on.

Comments or Questions? E-mail me at blogger@matadorsmoneymatters.com.

Here is a press release I just received from DMV with more information:

If you recently received a renewal letter for your vehicle registration, you might have noticed a slight increase in the amount over prior years. The Legislature authorized the California Department of Motor Vehicles (DMV) to increase the Vehicle License Fee (VLF) from .65 percent to 1.15 percent of the price of the vehicle – a change which went into effect May 19, 2009.  The DMV wants to help you understand what this new change means, and how it will impact your pocketbook for the next few years.

The VLF was established by the Legislature in 1935 in lieu of a property tax on vehicles. Legislators created a formula which is based upon the purchase price of the vehicle or the value of the vehicle when acquired. The new VLF increase applies to all cars, motorcycles, boats, recreational vehicles, and trailer homes. Exempt from the VLF increase are commercial vehicles such as “big rigs” that weigh over 10,001 pounds, trailers and semi-trailers in the Permanent Trailer Identification (PTI) program.

So what does this mean for you?  Well, you should expect to see an increase generally in the range of $5 per $1,000 of the vehicle price (when purchased). For example, if you bought your vehicle in 2008 for $15,000, your VLF would have been about $97 last year.  That same car now has a VLF of about $172 – an increase of approximately $75. The increased VLF will continue through June 30, 2011, but may be extended to June 30, 2013, pending the state budget. A percentage of the revenue received from the VLF will be used to help the DMV improve its services both online and in field offices across California.

If your registration was due on or is due after May 19 and you have not received your billing notice please visit the DMV and click on the More Online Services link to find out when your vehicle registration renewal fees are due. You can even calculate an estimate of your vehicle registration renewal fees and determine the VLF amount. And, as long as you’re eligible for it and you receive your renewal notice with the special Renewal Identification Number (RIN) on it, you will still be able to renew your vehicle registration online.

 So we all will continue to do our part – along with the increased sales tax – to help our State budget get out of the red. Whether we like it or not.

Questions or Comments? E-mail me at blogger@matadorsmoneymatters.com.

As I understand now, under this new law, if a consumer has an older car that gets poor mileage - but not more than 25 years old - and they have owned said car for at least one year, they can drive it to the Dealership and maybe get a $4,500 credit towards a new, more fuel-efficient car. I say maybe because it is the Dealers’ discretion who they give the credit to. Sound fair?

According to an article on cnnmoney.com, the program is itself a clunker:

Here’s why it won’t do most people much good: The government refund vouchers for $3,500 or $4,500 are in replacement of — not in addition to — the ordinary trade-in value of the vehicle, which in many instances will be worth more than the voucher.

“It’s not a rebate,” pointed out Jeremy Anwyl, chief executive of the auto Web site Edmunds.com. “It’s a minimum trade-in allowance.”

If your trade-in is worth more than the voucher amount, you’d be better off just trading your car in as you ordinarily would and not even bothering with the “Cash for Clunkers” program. Even if your vehicle is worth a little less than that amount — say, $3,000 instead of $3,500 — you will be $500 better off under “Cash for Clunkers.” But it you weren’t ready to buy a car before, is $500 going to make the difference?

What is your opinion on this new law? Good for consumers, or not? E-mail me at blogger@matadorsmoneymatters.com.

Learn for yourself. Get more information on the Cash for Clunkers program!

This is good news, considering many consumers may have purchased CDs, or Share Certificates, that expire in 2010, and they may not have been insured, depending how their accounts are vested, had the limits gone back to $100,000.

Also, it makes it easier for consumers to invest money in a credit union or bank if they are single with no beneficiaries and want to invest more than $100,000. Caveat – I always recommend adding at least one beneficiary to any bank or credit union account. Worst case, if something should happen to you, you don’t want your money sitting in probate, making it very difficult for your loved ones to get access to.

Remember – IRA Accounts are insured separately. So you can have a regular Certificate account for $248,000 (remember to allow for interest accruing, you don’t want to go over the insured limit!) and an IRA account for the same amount and still be insured.

Not sure how much you’re insured for at your financial institution? Find out how much you are insured for here !

Questions or Comments? E-mail me at blogger@matadorsmoneymatters.com.

I am a huge advocate of financial literacy in the classroom, and was even a past Board Member for the California Jumpstart Coalition. I truly believe that if kids are taught how to responsibly manage their money and know what to look for when applying for credit, they will grow into responsible and informed consumers and hopefully won’t get into any credit trouble in the future.

The students at Champs Charter were not only a very attentive audience, they had great questions. For example, one question was:

Why is it important for me to have credit and pay my bills on time?

My answer:

By establishing credit, and paying your bills on time and paying off your credit card each month, over time you will build up your credit history and credit score. By doing this, once you are ready to buy a car or a home, the higher your credit score, the better rates and terms you will get.

Another very important piece of advice that I give all students is that when they go to college, they will most likely be bombarded by credit card lenders offering free t-shirts and other enticing gifts if they apply for their card. Always check the terms of that credit card and read the small print! Make sure you are not in a high-rate card with high annual fees, and check to see if your rate will go up if you miss a payment. And – this is most important – make sure to only charge what you can afford to pay back each month. Try not to carry balances because, with interest accruing, you will eventually have a high balance that you may not be able to pay off for years.

One of the best parts of my job is educating kids and teens about smart money management. If you are affiliated with a local elementary, middle, or high school in our area, please send me an e-mail. I am eager to get the message out to all kids so that they will make smart decisions and will pass those smart decisions on to their children.

And, please check out MCCU’s youth programs!

Questions or comments? E-mail me at blogger@matadorsmoneymatters.com.

You are automatically enrolled when you purchase or lease any new Ford vehicle. But, it only becomes effective 30 days after you make the purchase.  If you become involuntarily unemployed (note: this won’t benefit you if you’re fired, only laid off) before January 1, 2010, as long as you submit monthly proof of unemployment, Ford will make your full payment for you, up to $700 per month, for up to 12 months.

Another point to note: you will not be eligible for the program if you were working part-time, or less than 30 hours per week.

The Hyundai Assurance program has been so successful for them that I think this is just the beginning of the other automakers following suit. In this economy, it just makes sense. And, they are all hurting for sales.

Get more information on the Ford Payment Protection Program here.

Buying a new car? Check out MCCU’s low car financing!

Questions or comments? E-mail me at blogger@matadorsmoneymatters.com.