Take a moment to think about every device you have plugged in at home. Now consider how many of those actually need to be.
The truth is, most electronics don’t always have to be attached to outlets. In fact, many of these perpetually plugged-in gadgets still use power when they’re turned off, costing you money you didn’t even know you were spending.
What Is the Standby Power Price Tag?
The average household routinely leaves around 40 appliances plugged in 24 hours a day. The U.S. Department of Energy has estimated that standby power — also known as leaking electricity, phantom load or vampire draw — can account for up to 10% of your annual electric bill. That means you could be throwing over $100 annually down the electrical drain.
What Are the Culprits?
Certain things like refrigerators and DVRs need to stay hooked up, for obvious reasons. However, identifying problem electronics can help you save some money. Older items with manual knobs, switches & dials, didn’t use a lot of standby power. Almost everything these days comes with a digital display. LED lights don’t use a lot of energy by themselves, but if you see a light on when something is turned off, it’s a power sucker. Computers, laptops, TVs, cable boxes, gaming consoles, coffeemakers and iPod docking stations are some of the biggest culprits when it comes to standby power usage.
How Do I Prevent Power Leaks?
The simple answer is to unplug devices when you’re not using them. While this seems like common sense, it can be a little tricky in practice. After all, no one wants to do that with 40 products when they leave for work, then hook them back in when they get home. The idea is to determine what you can unplug and connect those devices to a power strip. That way, you can easily switch all of them on and off as needed. If a daily disconnect is too daunting, consider doing it when you go on vacation or take a weekend getaway.
As you can see, unplugging unnecessary electronics is not only good for the environment, it’s also beneficial for your wallet. Plus, once you’ve gotten into the habit, you can take that extra money and invest it in an America First dedicated savings account, earning dividends instead of letting it slip away through a power outlet.
Their high fives and kind encouragements may be small acts of kindness but they are making a huge difference at South Sevier High School.
By John B. Lund, President & Chief Executive Officer
Dear members,
It’s my privilege to thank you for your membership, loyalty, and confidence in America First. I’m also grateful for the opportunity to present an annual report of the credit union’s performance & initiatives. Our volunteer and employee team strives for excellence each and every day, remaining passionate about developing and delivering superior financial services. We experienced another outstanding year and are well-positioned for a bright and vibrant future.
As we look forward in an ever-changing industry, I often ask myself why I would choose America First as my primary financial institution. Many benefits come to mind, but there are four core issues that shape how and what we provide to members: relevance, differentiation, sustainability and heart.
Relevance —To be relevant, something must have meaning or value given its position, situation, and circumstances. Last fall, my wife and I were fortunate to spend some relaxing time in Hawaii. While playing golf, a couple named Bruce & Jen approached, motioned to the logo on my shirt, and proudly said they were members of America First. Bruce explained that he joined many years ago while stationed at Hill Air Force Base in Ogden, Utah. Although they had lived all over the world, they always maintained their membership, saying the credit union continued to serve them well, helping them achieve their financial goals in each stage of life and regardless of their location.
Differentiation—The marketplace is cluttered with endless offers, gimmicks and, at times, predatory propositions. We, however, work diligently to develop trust and lasting relationships, helping members keep more of their money, simplify their busy lives, and reach their unique objectives.
We are proud of our convenient and meaningful products & services, such as free checking, free bill pay, free Visa® debit cards, and free 24/7 account management through our award-winning online and mobile applications. Free credit scores accompany our checking accounts. We foster robust dialogue and communication with secure email, social media, contact center, and live chat channels. Members can also take advantage of our top-tier savings vehicles, including money market, IRA, health savings & certificate accounts, investments, insurance, and trust services. America First is an industry leader in home loans, auto and RV financing, and merchant card services, as well as business services that include loans, checking and Visa. Members can also take advantage of free financial counseling, educational seminars, and document shredding events throughout the year.
Our Visa cards are truly outstanding. In addition to no annual fees, the lowest possible rates, free personalization and many other features, our cash-back option pays members 1.5% on all purchases. Participants earn extra rebates & discounts with our merchant-funded ABC Deals program, bringing members thousands of real dollars every year. Further, recognizing the prevalence of fraud and personal data compromises in today’s digital world, we now provide free identity theft recovery plans to members and their immediate families with Visa credit accounts. Recovery service is also available for purchase at significant discounts of up to more than 75% for those without our credit cards. This is an amazing differentiating benefit, as other institutions charge $25 to $50 per month for similar or even inferior services.
America First is fortunate to operate one of the region’s largest branch networks, with 121 locations and more planned for 2017. This presence sets us apart, but perhaps the most important distinction we have as a credit union is our continual focus on service levels. Our loyalty, retention, product utilization, and net promoter scores are among the country’s best, yet we always endeavor to improve.
Sustainability—Maintaining integrity is crucial to any sustaining organization, especially in the financial services sector. The economy has its cycles, life has its ups and downs, but you can rest assured that integrity in all facets is constant at America First.
We take pride in being fiscally sound and independently rated among the best credit unions in the nation. We closed the year with $844 million in capital, up 10.41%. Our net worth ratio was 11.32%, far above the 7% mark that is considered well capitalized by the National Credit Union Administration. We received an unqualified opinion from an external auditing firm regarding our 2015 financial statements, and expect another unqualified rating when the 2016 official review is complete.
Assets increased by 14.41% and were above $8 billion. Our return-on-assets ended the year at a strong 1.17%. Membership continued growing at a healthy pace, finishing at nearly 819,000. Deposits increased more than $926 million, up 14.75%. Our year-to-date loan growth was 16.37%, netting $835 million. Our loan delinquency rate was a low .79% and the allowance for loan & lease loss was more than adequate to absorb any portfolio deficiencies.
New offices opened in Summerlin, Nevada; Santa Clara, Washington Fields, Jeremy Ranch, Traverse Mountain, and West Point, Utah; Boise, Idaho; Tempe, Arizona; and our new Innovation Center debuted in Salt Lake City.
Heart—The people-helping-people philosophy of America First is strong, deeply rooted, and has remained a guiding principle since our founding in 1939. We feel that being a conscientious corporate citizen is paramount to our relevance. We will continue working with our schools, communities, and organizations that foster the greater good to make a meaningful difference. Examples of these efforts include supporting food drives, conducting our Warm the Soles of Kids campaign, contributing to the 100% For Kids Credit Union Education Foundation, making grants through our charitable foundation, supporting children’s hospitals, providing scholarships, and assisting many other worthy causes. Further, our team donates thousands of personal hours to service outreach.
My deepest thanks are extended to our volunteers and staff; their commitment to the membership, whether serving you directly or indirectly, is unrivaled. Most importantly, I express my utmost appreciation to you, our valued members. It is our desire to develop and maintain a lifelong relationship with you and your family.
She always wanted to see the Northern Lights but a cancer diagnosis put that bucket list item on the backburner. That is until a pair of Utah businesses dreamed up an idea.
To keep your electronic space safe & secure, you can take advantage of the following tips to remove clutter, upgrade technologies–a digital spring cleaning.
- Get rid of excess files. Go through your folders, including the recycle bin, and discard unused items.
- Organize media in labeled files.
- Streamline your desktop so it’s not inundated with icons that slow you down.
- Uninstall old programs that haven’t been loaded in ages, reducing the potential for malware.
- Create unique & strong passwords with a mix of characters and numbers.
- Back up important data.
- And please visit us here to learn more about safeguarding your resources.
For a limited time, when you transfer balances from other institutions to your America First Visa® credit account, we’ll pay* you 3% of the amount you move!
That’s right, instead of facing a balance-transfer fee, we’ll deposit money in your account.
Plus, you’ll benefit from:
- Low rates
- No annual fees
- Free Card Guard® mobile security
- Free identity theft recovery
- Much more
Apply today.
*Total cash return cannot exceed $300. Eligibility, terms & conditions apply. Offer valid through March 31, 2017. Incentive will be paid to member’s share savings account within three (3) calendar week of balance transfer. Not available on business accounts or balances transferred from existing America First loans. Cannot be combined with any other offers. Federally insured by NCUA/Equal Opportunity Lender.
With spring around the corner, many homeowners start thinking about the improvements they’ve been putting off all winter. If your to-do list is long, but your cashflow is short, you might want to consider a home equity line of credit, also known as a HELOC.
These loans give you access to the value you’ve worked so hard to build and they provide the flexibility you need to make your projects a reality.
Many people don’t take advantage of their equity until it’s time to sell. With a HELOC, you can borrow up to 100% of your home’s value, minus your mortgage balance, right now. You can then use those funds to make unexpected repairs, complete residential enhancements to increase the resale value or accomplish pretty much anything you see fit.
One of the nice things about a HELOC is that it’s open-ended, meaning you can draw out money up to the approved limit and pay it back as needed — similar to a credit card, but with much better rates and terms. So, for example, if you’re remodeling your bathroom and you discover that your water heater needs to be replaced, your line of credit could cover that expense as well, without any additional applications or processing.
America First offers an interest-only HELOC, which gives you the lowest possible monthly payments for the first five years. During that time, called the draw period, you’ll only pay the loan’s interest back. When the draw period ends, the loan balance converts to a 10-year repayment plan. At that time, you can start paying down the principal or refinance your interest-only HELOC and start another five-year draw period.
However, please keep in mind that any interest-only HELOC principal balance still needs to be paid at some point. And defaulting on any home equity loan could result in foreclosure. You should practice responsible borrowing and only tap what you can reasonably pay back during the loan’s term. Using a HELOC in this way will help keep you out of financial trouble and give you short-term cashflow for home repairs and improvements.
Tax season seems to be when cyber-criminals come out of the woodwork.
Nicole Cypers with America First Credit Union shares how you can protect your financial resources all year round.