Month: February 2017

Padlock on a bill

Security Update: Protect yourself during Tax Season

Cybercriminals & their schemes, which seek to rob you of your resources, seem to proliferate during tax season.

The Internal Revenue Service is warning consumers that several threats have been reported across the country. Being aware of them and maintaining vigilance in protecting your personal data is always essential, no matter the time of year.

Here are some examples of recent scams:

  • Identity thieves sent phishing emails to tax preparation firms. The messages purported to come from a company human resources executive, requesting employees’ W-2s. Never provide your personal information to anyone but your trusted tax advisor if you hire someone to do your filing.
  • Taxpayers have been victimized over their returns. One instance involved a scammer submitting fraudulent refund claims using another person’s identifying information, which had been stolen. This caused considerable delays in refunds.
  • Cheats pose as IRS officials and request sensitive information via email or text. The IRS will never contact a taxpayer through these methods and ask for this data. Also, don’t click on any link or attachment in a suspicious email.

And here are some additional tips to help prevent being victimized:

∙Don’t carry your Social Security card or any documents with your number written on it.

∙Check your credit report at least every 12 months, if not more frequently.

∙Secure personal information in your home.

∙Protect your computers & devices with firewalls, anti-spam/virus software, and updated security patches.

∙Go to this link to learn how we are working to safeguard your finances.

Notebook binder

Bring your Balances to America First and Get the Best Savings

If you have several credit cards, it’s hard to keep track of all your balances, rates, and payment dates.

America First can help put you at ease by consolidating all of your loans with our industry-leading, low-rate Visa® Platinum.

It carries a variable APR as low as *7.24%—one of the best in the country. That means you’ll pay less, save more, and there’s no annual fee.

Plus, it comes with a bunch of free perks:

Apply online & get one card, one payment, and one low rate.

*Annual percentage rate, on approved credit, subject to change, terms & conditions.

Plants in a pot

Guest Commentary: Expect to See a Strengthening Economy

Glen OlpenBy Glen Olpin, Senior Vice President/Chief Economist

Each new year gives us the opportunity to reflect on the financial trends & conditions that have affected the membership over the past 12 months, as well as forecast how these economic factors will impact our operations going forward.

We expect a strengthening national economy this year, improving somewhat from what we experienced in 2016. A recent survey indicates most America First members have a wait-and-see attitude toward economic growth. Only 27% of respondents see an improvement coming, compared with over 30% a year ago. However, since the resolution of the U.S. presidential election, we have seen the stock market accelerate, confidence soar, and small businesses demonstrate higher levels of optimism.

Benchmark interest rates edged up slightly during 2016, and we forecast two to three additional quarter-percent increases throughout the year as the American economy gains momentum.

Utah’s 3.1% unemployment rate is well below the national average of 4.7%. The state also ranks among national leaders in job growth. Nevada’s labor markets were greatly improved, with unemployment levels falling to 5.2%. A large percentage of our members believe their personal employment situations will get better this year.

Consumer spending has expanded, resulting in sustained overall economic growth, even without significant increases in personal income. National retail sales grew more than 4% in 2016.

Personal credit saw faster than 6% growth for the year, while at America First, loan demand has been significant and is expected to continue into the future. Due largely to units moved in December of 2016, new auto sales set an annual industry record. Demand is expected to ease slightly during 2017. As it does, we expect dealer incentives to continue playing a key role in sales growth.

Inflation stayed low, but increasing home values & sales have created strong market conditions. We expect continued housing and construction growth during 2017, even as interest rates rise moderately.

While public uncertainty has to a large extent faded, questions remain regarding fiscal spending, regulatory reform, tax code changes, trade relations, and other issues. Ongoing expectations for positive changes in Washington will likely buoy the economy as it expands.

Regardless of the larger economic environment, all of us at America First are committed to providing you with service excellence, delivering high-quality financial products & services, and establishing lasting relationships of trust.

We appreciate the confidence you’ve placed in your credit union and thank you for your membership.