3 Tips for a Smart Holiday Budget

Holiday spending can get steep if you’re not careful.

The average American plans to spend nearly $1,000 this holiday season, according to the National Retail Federation. Between decor, food, and gifts, the costs add up fast.

Budgeting doesn't have to take the fun out of the Holidays. Keep these tips in mind for a jolly and wallet-friendly holiday.

1. Grab a Pen and Paper

Don’t assume you’ll remember your holiday shopping list by heart. Write down everything you need to buy. That means everything; your grocery list, gifts, decorations, new clothes for a holiday party, gas or airline tickets, gift wrap, and even holiday greeting cards. Keep a running budget with the list. It may be helpful to mark out how much you plan to spend on each gift.

Then, take to the holiday ads and scope for deals. Check each store’s price match policy. Being prepared helps you cut out expensive last-minute gifts or impulse buys.

2. Shop Early, but Not All at Once

If you feel like every shopping outing turns into an all-out shopping spree, you’re not alone. It’s not your self-control that’s at fault. Buying one thing can psychologically trigger you to buy more things – something researchers call The Shopping Momentum Effect.

It’s because of this that shopping boundaries are important. Take advantage of Black Friday and Cyber Monday deals, but stick to your list. Shopping online could help ease this by getting you out of the mall atmosphere, but watch out for shipping costs, which can climb quickly.

3. Get Strategic About Big Purchases

Huge store sales like Black Friday can be a great time to buy electronics, appliances and exercise equipment because of the steep markdowns. You might want to think about buying last year’s model rather than the latest releases, which can save you a significant chunk of change.

If you’re planning to make a really big purchase this holiday season, a loan can help make your holiday dreams come true. First Choice Credit Union’s Fair Rate Lending Program gives members the best payback rate possible based on their credit score. You’ll save money because the loans are calculated based on simple interest, and there is never a prepayment penalty.

It’s possible to celebrate the Holidays and stay on a budget – even if you’re planning a Clark Griswold-esque celebration. Enlist the help of First Choice Credit Union - we’ll help you reach your yuletide goals without demolishing your budget.

Do Not Be a Victim! How to Protect Yourself From Scams

There are many scammers in the world, and just as many ways to be scammed. Recently, our credit union members have called us and reported receiving a letter in the mail with a check in it. This is just one example of many ways you can fall victim to a scam. If you received this letter, DO NOT CASH THE CHECK and throw it away. At First Choice Credit Union, we want you and your personal information to stay safe. Here are 3 ways to protect yourself from scams.

Learn About The Different Types of Scams

Scams often try to glean information from you that can be later used against you. This can result in identity theft, private information release, and financial hacking. Read about common types of scams and how to identify them here. It is unbelievable the ways people prey on the vulnerable; do not let yourself be one of them! The old adage really applies here: if it is too good to be true, it isn't.

Keep Personal Information Safe – Even from Family

One of the most exploited groups of people are actually the elderly. Sadly, over 90% of elderly abuse is committed by a family member. It is so important to keep your personal information safe from even relatives. Do not give your social security number, credit card number, checking account number, or any other financially identifying information freely.

No Transactions With a Person or Business You Do Not Trust

A good rule of thumb to protect yourself from scams is never involve yourself in a transaction involving a business you have never heard of. If a salesman solicits at your doorstep, do not open the door. If a pop-up advertises on your computer browser, do not click the ad. If you get a phone call asking for personal information, do not divulge anything. If you did not seek out and initiate the transaction, be skeptical of what you are doing.

These three tips will go a long way in protecting yourself, but there's still more you can do. Learn as much as you can about scams and then protect your loved ones by educating them, too. Click here to learn about what to do if you are involved in a scam as a credit union member.

Be Safe and Prepared During Hurricane Irma

With the threat of Hurricane Irma approaching, we encourage our Members to prepare early and to be safe before, during and after the storm.

• Make sure your home is hurricane ready. Document and photograph all your valuables in your home. Repair and reinforce anything that isn’t fully attached or could blow away or cause damage. Protect windows against flying debris or shattering with plywood and duct tape.
• Know where to go. If you are ordered to evacuate, know your evacuation zone and listen to state officials if an evacuation is ordered for your area. Have a plan for how your family will communicate and a plan for where you can stay.
• Put together a “go” bag including a flashlight, batteries, first aid supplies, pet supplies, medications, copies of important information and cash. You can still stay in contact with your First Choice account with Home Banking and Mobile.
• Make a plan for your four-legged friends. Make sure all pets are wearing their ID tags with up-to-date contact information. If necessary, choose a designated caregiver outside evacuation zones. Have food and water on hand for three days.
• Have a family communications plan, keep a battery-powered radio handy, plan for adequate supplies and water for several days, and save emergency numbers.

Important numbers

• The State of Florida Emergency Hotline has been activated 24/7. For up-to-date information regarding Hurricane Irma, call 1-800-3412-3557.
• To find a hurricane shelter close to you, you can text the word “shelter” and your zip code to the number 4-F-E-M-A or 4-3-3-6-2. Always check with your local emergency management agency to make sure it’s not full.*
• Emergency referral line: 211
• FEMA Registration: 800-621-3362 | 800-462-7585
• Florida Department of Agriculture & Consumer Services: 800-435-7352
• Elder Affairs: 800-963-5337
• Florida Insurance Claim Hotline: 800-277-8676
• Unemployment Claims Emergency Hotline: 800-204-2418

Insurance Hotlines

• State Farm: 800-732-5246
• Allstate: 800-547-8676
• Citizens: 866-411-2742
• Nationwide: 800-421-3535
• USAA (Military): 800-531-8222

Important websites

• Visit www.ready.gov or www.listo.gov (Spanish) for tips on how to prepare for and stay safe during hurricanes and flooding.
• Visit Hurricanes.gov for the latest on the storm.
• Download the FEMA Mobile App to receive alerts from the National Weather Service, get safety and survival tips, customize your emergency checklist, find your local shelter, and upload your disaster photos to help first responders
• Florida Disaster  |  Florida Get a Plan
• http://www.wptv.com/weather/hurricaneplus
• https://www.fema.gov/hurricane-irma

* Texting FEMA is not a substitute for calling 911.

First Choice Credit Union Auto Loan and Car Buying Tips

Purchasing a vehicle is an exciting moment, but can also be confusing and daunting. First Choice Credit Union is here to advise you on the car-buying steps and help you make a purchase decision that is both financially smart and gets you the vehicle you want.

1. Determine Your Budget

A good rule of thumb is that you should only take on new debt when your monthly spending is less than your monthly income. A new loan shouldn’t take away from your plans to save or from your existing commitments. If you have the room in your budget for a monthly car payment, that will inform your overall car-buying budget. Not sure what your monthly finances will allow? Our member services staff can assist you.

When calculating your overall budget, keep in mind that your monthly payment will be determined by a) vehicle price, including any added warranties, b) down payment, c) term of the loan, and d) APR (annual percentage rate). The larger the down payment, the smaller the loan, which will give you more flexibility and a more comfortable monthly payment.

2. Check your Credit Report

The terms of your loan will be influenced by your credit score, so it may be a good idea to check your credit report for any discrepancies you might need to dispute.

3. Direct Lending vs. Dealership Financing

Buyers have several choices when it comes to securing an auto loan. Dealership financing makes use of the dealership’s relationships with financial institutions, and won’t necessarily be the best deal. Direct lending involves getting your loan directly from your bank or credit union, and First Choice is proud to specialize in low-cost auto loans. We pride ourselves on having the lowest car loans in Palm Beach County, with our Fair Lending Program in place to determine your best rate based on your personal history.

4. Meet with an Auto Advisor

One of the newer services that First Choice offers our members is the Auto Advisor program—we’re the friend you wish you had with you as you enter the dealership. Your assigned advisor will help you simplify the car-buying process and be your expert advice, from determining fair market value for your trade-in to helping you complete your final purchase.

5. Get Pre-Approved

Getting pre-approved from First Choice Credit Union will help you feel more confident when you’re shopping and beginning to negotiate price. We can issue a sight draft which you can bring on the lot with you. Visit our low-cost Auto Loan Resource Center for more information.

6. Shop Around

Use the many car finding sites and apps to give you a good understanding of fair prices for the vehicle you’re looking for. Visit a few dealerships to see their inventory, test drive, and compare certain features. It’s a good idea to bring along a shopping companion to help you weigh your options and talk through your decision.

7. Consider Warranties and Maintenance Plans

Extended warranties and maintenance plans add to the total cost of the vehicle but can save you a bit of money in the long run (which is also money you’d be paying out of pocket unexpectedly for repairs and maintenance, versus having it rolled into your loan in most cases). Talk to the dealership staff and our Auto Advisors to know what to expect.

8. Read the Fine Print

You’re almost there! Read all parts of the auto contract carefully. If you have questions about wording, ask them, and make sure all of the coverage you’re opting into is listed out. If you see something you didn’t agree to or don’t understand, ask. For a quick road map to the parts of an auto insurance contract, follow along with this guide.



We’re happy to help our members through the car-buying experience. Contact us to get started!

A Variety of Personal Loans From First Choice Credit Union

Personal loans are loans between $500 and $10,000 that can be taken out for a variety of reasons and are not restricted to a particular purchase. Like other loans with First Choice Credit Union, the terms of your loan are based on the amount borrowed, and the rate you pay is based on your credit history. Our members know they can rely on us to offer the fairest and best rate possible, and it is a pleasure for us to help our members realize their dreams.

Personal loans are appealing not only because they can help you reach your goals, but because they are flexible, have lower rates than credit cards in most cases, and, if paid in full each month, they can actually improve your credit score.

Americans use personal loans for everything from debt consolidation to wedding receptions. Let’s look at some of the common (and not so common) ways to use a personal loan.

1. Debt Consolidation

Consolidate credit cards or other loans into one single personal loan, and get a fixed rate, fixed monthly payment, and often, cases lower interest rate.

2. Home Improvements and Remodeling

Americans spend billions of dollars on home remodeling projects each year, and these costs can be covered (and paid over time) with personal loans.

3. Weddings or Quinceñeras

Celebrate your big day just how you want! It may mean big price tags that add up, so many families use a personal loan to make their celebration perfect.

4. Medical Bills or Adoption

Paying for surgeries and treatments or worrying about preparing for an adoption can be alleviated with personal loans.

5. Funeral Expenses

These often unexpected costs can run over $10,000.

6. Trips of a Lifetime

Be careful of using a personal loan for travel expenses, but if there is a once-in-a-lifetime trip that you are carefully planning to finance, like a honeymoon or destination wedding, this could be a good option.


Interested in your own personal loan? Members can apply for a personal loan in person at any of our branch locations, or online.

How to Save Money on Your Daughter's Quinceañera

Your daughter's coming of age birthday party might seem like it is going to cost you a pretty penny as you begin to plan and prepare. Some people can go overboard and spend a small fortune on their daughter's quinceañera, but with these money-saving tips, you can afford to throw your girl the birthday party of her dreams!

Skip the Salon

Your daughter and her friends want to look perfect for the big day, but a lot of hair, makeup, and nail treatments can be done less expensively than at a salon. One idea is to go to a local cosmetology school to get discounted services. Otherwise, enlist a particularly talented friend or relative to help with hair or makeup for getting ready, saving you hundreds in salon costs.

DIY Decorations

Instead of flowers, choose balloons or photographs to decorate the party. The dollar store offers many creative and inexpensive decorations and you can search on Pinterest.com for easy DIY crafts to make with them. Enlist relatives to help create custom quinceañera decorations and even put together favors for your guests.

Frugal Food

Make handmade food choices instead of catering. Traditional dishes will go over better with your guests, anyway! You can also choose to have multiple smaller cakes or cupcakes instead of just one big one to save a little money. Another popular choice is to serve multiple appetizers instead of a sit-down dinner. Plated meals will oftentimes blow the budget so simpler food choices can reduce the cost of your daughter's quinceañera dramatically.


As your daughter celebrates her very special fifteenth birthday, it can be tempting to spend a lot to have her every wish granted. To save money on her quinceañera, heed these tips to save tons of money.

First Choice Credit Union is here to help you make smart financial decisions in all aspects of your life. We offer a special quinceañera loan just for your little girl. Stop in today and ask about how we can help make her birthday the best yet!

How to Spend Your Tax Return Wisely

When your tax return comes in, you are undoubtedly tempted to spend it on some big ticket item on your wish list. Perhaps you have been waiting to buy a new sofa or you would like to take a vacation. The average taxpayer receives a refund around $3,000 and that is a good chunk of change. The wisest ways to utilize that money are listed below.

Pay Off Debt

The number one thing you should do with your tax return is pay off high interest debt. Any loan or debt you owe incurring more than 5% interest should be paid down as quickly as you can. Credit card debt is especially detrimental, as it can make it very difficult to get ahead and bringing down your credit score. Not only will paying off that debt feel like a relief, but you will be grateful every month when your overdue bill does not come in the mail.

Make Home Improvements

The home improvements you should spend your tax return on are the ones which will give you the highest return on investment. These are not improvements like heated tile floors or new kitchen cabinets, they are the kind that will increase your home's efficiency and decrease your ownership costs for months – or even years – to come. Adding insulation to your home's attic if necessary, replacing old appliances with energy efficient ones, or installing new windows are some of the wisest home improvements. In the long run, the money you spent on these improvements will find its way back in your pocket.

Save it For a Rainy Day

The majority of Americans do not have enough money in savings to protect themselves against sudden setbacks. An emergency fund should always hold 3-6 months of your expenses in the event you lose your job, incur medical bills, have a large car repair, or have to pay for something unexpected. First Choice Credit Union has great savings account options and can meet with you to determine how large of an emergency fund you should have.


It can be hard to refrain from purchasing a wish list item with your tax refund! However, if you choose to spend your tax return wisely through one of these three avenues, you future self will thank you.