Debt Ceiling Crisis: How Pen Air Will Help Those Affected

In response to the possible Debt Ceiling Crisis, Pen Air Federal Credit Union will offer its military and civil service member-owners with direct deposit, a 6-month, no-interest loan up to the full amount of their paycheck. This loan also applies to member-owners with direct deposit from government agencies such as Social Security.

“We are ready to help,” said Pen Air President/CEO Ron Fields. “To help give our members some financial piece of mind.”

If they are affected by the Debt Ceiling Crisis, member-owners should simply stop by their nearby Pen Air branch or call (850) 505-3200 to make loan arrangements. Pen Air FCU will also assist non-members with a personal loan up to the amount of their paycheck for a term of six months. The interest rate will be based off of the person’s credit worthiness. Member-owners with existing Pen Air loans can contact the credit union to arrange for payment options.

“If you, or someone you know, become affected by this crisis, we urge you to come in,” Fields said. “We will work something out.”

Click here for more options and ways that we can help.

Top 10 Ways Americans are trimming back expenses

By Justine Rivero of Credit Karma

   Between the beginning of the recession in 2007 up until May 2011, Americans have cut spending by nearly $7,300 compared to what they would've otherwise spent if the recession didn't occur. Looks like the recession had a lingering silver lining. Reported by the Federal Reserve Bank of San Francisco, the report shows that the average consumer spent about $175 less each month than before the recession.


   Hats off to all you consumers out there for pinching pennies at the grocery store, clipping coupons, skipping morning lattes, trimming vacations, and whatever small yet significant ways your own household tightened its belt to cope with the recession. It's healthy to trim the fat from your finances, and imagine what $175 saved each month can go towards—to pad a savings account, build an emergency fund, or hack away at debt.

   Consumer spending is inching up since the start of 2011, which is necessary for a recovering economy. However, look for ways to keep up your smart saving and budgeting; slipping back into pre-recession spending habits could lead to the same over-borrowing on credit that pushed Americans to the brink of recession.

   Need motivation to keep up money-saving habits?

   Try following the crowd! A recent Harris poll found the top 10 ways Americans are cutting back on spending, which can definitely help keep you on the right track for smart spending.
1) 67% of Americans started purchasing more generic brand goods at the grocery store.

2) Almost half of us, at 46%, are brown-bagging lunch from home instead of buying.

3) 43% are skipping appointments and going to the hairdresser or barber less often.

4) 39% switched from purchasing bottled water to using a refillable water bottle (a wallet and environment friendly move).

5) 31% cancelled one or more magazine subscriptions (also environmentally friendly).

6) About a quarter of us, at 24%, are cutting down on dry cleaning.

7) 22% cancelled or downgraded television cable.

8) 21% are skipping buying coffee in the morning (and maybe making it at home instead).

9) Following #5, 18% cancelled a newspaper subscription .

10) 16% cancelled landline phones and are relying on cell phone instead.

   Which of these strategies are you already doing, and which new ones can you pick up to add more money-savvy moves to your daily routine?

New Droid App!

Pen Air is excited to announce that we now have an Android App for Mobile Access! This App is available for download from the Android Market. Please remember, users must enable Mobile Access through the Mobile Services menu in Internet Access before the service will work on their phone or mobile device. www.penair.org/internetaccess

July eNewsletter

Finance It... and enjoy the work of a local artist!

Splash in to summer with a new boat or water craft! Finance any new boat or jet ski loan with Pen Air FCU in July 2011 and receive your choice of one of these Nina Fritz Blue Angel print collectibles, free*! Call 1-877-4-PENAIR or stop by your local branch for more information or to apply. You can also apply online by clicking here. Enjoy it!

*Offer valid while supplies last and is available for ALL financed new boat or jet ski loans. To receive promo item, financing must be closed at a Pen Air office due to the delicacy of the collectibles.

Shopping online for a vehicle just got easier

Shop online for a vehicle right from the comfort of your own home... or wherever you might be! This AutoSmart website searches for the local dealers Pen Air FCU often works with and shows current inventory that is available. All you need is a computer or device with Internet access!

You can search for a specific vehicle by year, make, model, etc. and the results will be returned showing you information about the vehicle and where it is available. Along with online shopping, the site provides other helpful resources and a link to the Pen Air FCU internet loan application. Click here to get started today!

Free Seminar on Aug. 1: Auto Insurance 101

If you drive a car, you probably have auto insurance. But do you know exactly what you are paying for or what that policy really says? Pen Air FCU and our partner, Quorum Insurance, are hosting an Auto Insurance 101 seminar from 6 to 7 p.m. Monday, August 1 at the Pen Air FCU Corporate Office, 1495 E. Nine Mile Road.

This free seminar will walk you through the ins and outs of auto insurance, including: Are You Covered In Case of an Accident, "Full Coverage" and Auto Insurance Fraud in Florida. Bring your policy with you to have specific questions answered after the session.

Register for this event online by clicking here.

Help give back to local schools, one swipe at a time

The Share It debit card program is designed to give our members an easy way to contribute to their community. Pen Air FCU will donate $.01 to the local school district of the member's choice for every signature transaction made on an enrolled account.

Enrollment is easy and the program is at no cost to member or the schools. Once you've enrolled, just use your debit card for signature transactions - nothing more! Click here to find out more about this program!

Online financial information available for all ages

Pen Air FCU is committed to providing solid financial education to our member-owners. We provide different types of online resources that are suitable for everyone, from our young Penny Savers Club members to money-savvy adults.

New information is just a few clicks away. Through our online Financial Toolkit, Pen Air partners with a number of different sites, including Googolplex and Guides to Independence (music downloads, anyone?) for kids and teens, Anytime Advisor and Money Mix for adults researching big financial decisons, and Home & Family Finance Resouces and Plan It for the latest information on household and retirement options. For Spanish-speaking members, we also have El Poder es Tuyo.

Pen Air Pride: Recent Pen Air accomplishments

Pen Air FCU is proud and honored to have been recognized by the local community this month. Thank you to our members and employees for all they they do to help Pen Air rise above the rest.

Fields selected for Top 100 Power List

Local weekly newspaper The Independent News announced in June that Pen Air FCU President and CEO Ron Fields had been selected for its 2011 Power List.

“I’m truly honored to have received this recognition and hope this serves as inspiration for other businesses to step up and be active in their community,” Fields said.

Independent News publisher Rick Outzen said a committee takes the publicly-nominated individuals and selects 100 of the most influential for the list. This is the fifth year Independent News has published the Power List.

“Those selected are the business leaders that have done a lot for the community, and strive to make Pensacola a better place to live” Outzen said.

"Best of the Bay" Finalist

Pen Air FCU is proud to have been named one of two 2011 finalists for the Best Place to Work in the Pensacola News Journal's Best of the Bay Reader's Choice Awards. The distinction was announced in the publication's June 24 Weekender.

Upcoming Events

Monday, July 4: Independence Day, all branches closed.

Monday, July 4: Riverfest, 10 a.m. to dark in Milton, FL.

July 14-16: Ted Ciano's Car Sale

Monday, August 1: Free Auto Insurance 101 Seminar. See above article for details.

Member-Owners continue to share Pen Air Stories

“No other company would have cared about me and my family’s well-being like they do. I recommend that anyone looking for a bank that treats you like family should join Pen Air.” Stephanie B., Member for 1 year

Our member-owners continue to share their Pen Air stories! Take a look at what they have to say, or add your own story, by clicking here.