Tropical Financial Credit Union Blog

Tired of Debit fees? Make EVERY Day "Bank Transfer Day"!

noreply@blogger.com (myiris) — Wed, 19 Oct 2011 12:04:00 +0000

November 5th is right around the corner and there are a LOT of people looking to that date as a singular day to leave their big banks and transfer their accounts over to credit unions or community banks. We are thrilled that the news media is sharing the benefits of credit unions; but why wait? We think EVERY day should be Bank Transfer Day! Right now you can join a credit union, pay fewer fees, get better rates and have easy and FREE access to your money. After all, isn’t that what the organizers of Bank Transfer Day really want? Spurred by the announcement of a new $5 fee for debit card usage, Bank of America seems to have found the proverbial straw that broke the camel’s back. From that announcement main street has risen up and started yelling, “WE HAVE HAD ENOUGH!”

Here in South Florida we heard you LOUD AND CLEAR. In fact we think not only should you have fee-free access to debit card usage, we also want to reward you for using your debit card, which is why we created Swipe Where It Counts!

Here’s how it works:

Open a new checking account with debit card before April 30, 2012

Swipe your debit card using signature option (not PIN)

For every 5 debit purchases you earn $1

You can earn up to $5 EVERY month through April 30, 2012!

SWIPE AWAY

At Tropical Financial Credit Union we believe that GETTING $5 a month is WAY better than paying $5 a month just to use your debit card. If you agree, spread the news and make EVERY DAY Bank Transfer Day!

Anyone who lives or works in Miami-Dade, Broward, or Palm Beach Counties in South Florida is eligible to join Tropical Financial. Learn more at http://www.swipewhereitcounts.com/

It's Coming!

noreply@blogger.com (Mikhaila Clements) — Tue, 23 Aug 2011 20:05:00 +0000

Tropical Financial Credit Union (TFCU) has a BIG surprise planned for October 1st, 2011.

Stay tuned to see what we have in store for you!

Florida's Housing Market Shows Signs of Strength

noreply@blogger.com (Mikhaila Clements) — Wed, 17 Aug 2011 13:48:00 +0000

According to the latest report by Florida Realtors, Florida's housing market is showing new signs of strength.

Home sales are up 17% from the beginning of this year and condo sales are up 8%. The reasons for the increase in sales are low prices and low mortgage rates. The median price for a home in Florida is $135,000 - 5% lower than last year.

Low home prices and low mortgage rates are making Florida homes affordable to those who were previously unable to buy a home.

Investment Strategies to Ensure You Stay Retired Seminar

noreply@blogger.com (Mikhaila Clements) — Tue, 09 Aug 2011 20:11:00 +0000

Join Tropical Financial Credit Union (TFCU) and Craig Weisman, Vice President, Wealth Management Wednesday, August 17th, 2011 from 6:30-8:30 at Brio Tuscan Grille in Pembroke Pines for a retirement investment strategies seminar.

The seminar, Investment Strategies to Ensure You Stay Retired, will explain how to identify retirement income sources, how much money needed to retire, how to calculate the cost of retirement, and how to avoid common retirement mistakes.

Dinner will be served at this seminar and seating is limited, please RSVP: Ani Reyes at 305-261-8328 ext 7716.

More South Florida Homes Underwater

noreply@blogger.com (Mikhaila Clements) — Tue, 09 Aug 2011 18:09:00 +0000

More South Florida homes were underwater in the second quarter of 2011 than last year.

According to Zillow, approximately 46% of homeowners in Miami-Dade, Broward and Palm Beach Counties owe more on their mortgage loan than their homes are worth, compared to 43% in the second quarter of 2010.

The same trend continues nationwide, with 27% of US homeowners underwater this year, compared to 22.5% last year.

3 Tips for Your "Back to School" Budget

noreply@blogger.com (Mikhaila Clements) — Mon, 08 Aug 2011 20:30:00 +0000

photo by o5com/flickr

It's that time again, the kids are heading "Back to School" this month.

Here are 3 tips to stay budgeted while shopping for everything your child will need this year:

1. Make a List & Budget - List everything your child will truly need and price out approximately how much each item should cost.

2. Shop Around - Check online for sales and take advantage of "back to school" tax holidays.

3. Avoid Needless ATM Fees - Get cash out from your local branch or use an ATM without a service charge.

TFCU's Homebuyer and Owner Expo

noreply@blogger.com (Mikhaila Clements) — Mon, 08 Aug 2011 19:07:00 +0000

Don't miss TFCU's Homebuyer and Owner Expo Thursday, August 18th, 2011 from 11AM-3PM at the Ft. Lauderdale TFCU branch.

Get valuable information about mortgages, buying and selling your home, homeowners insurance, home inspections, insurance claims, security, renovations, and more. Learn everything you need to know about buying a home, PLUS get pre-qualified for a mortgage on the spot.

But that's not all, apply by September 15th and get $1,000 off your mortgage closing costs!

See you at the Expo!

10 Steps to Prevent Mold Growth in Florida

noreply@blogger.com (Mikhaila Clements) — Mon, 08 Aug 2011 17:34:00 +0000

Florida is notoriously humid year round, even more so in these summer months. All that humidity makes it very easy for mold to take over your home. Indoor mold is a serious health concern for Florida residents.

Here are 10 tips to prevent mold growth in your Florida home:

1. Use adequate ventilation or your air conditioner year-round to keep the humidity levels inside your house below 60%.

2. Do not hang wet towels or clothes to dry indoors.

3. Use a digital hygrometer to test humidity levels inside each room of your house. Record these levels in a log book to diagnose problem areas.

4. Clean air conditioning ducts every three months to get rid of accumulated dust particles.

5. Install HEPA filters inside air conditioner intakes.

6. Use a HEPA vacuum cleaner and mop tile floors daily to remove mold spores and dust.

7. Test each room in your home for airborne mold spores annually.

8. Use your nose. If you smell mold, there is mold growing somewhere, whether it is visible or not.

9. Inspect hidden areas of your home routinely for water leaks, water damage and mold growth.

10. Monitor residents' health. Chronic coughing, sneezing, headaches, skin rashes and breathing disorders can all be a sign of mold in the home.

Credit Unions Weather Financial Rainstorms

noreply@blogger.com (Mikhaila Clements) — Fri, 05 Aug 2011 20:36:00 +0000

Credit Unions like Tropical Financial Credit Union (TFCU) have you covered.

No matter what the financial rainstorm brings, credit unions will always have your back because they are non-profit and member owned. That's the credit union difference.

If you're sick of banks selling you out and not putting your best interests first, it's time to join a credit union!

School Property Taxes Expected to Increase

noreply@blogger.com (Mikhaila Clements) — Fri, 05 Aug 2011 17:57:00 +0000

School property taxes in Florida are expected to increase 1.3% by next year, signaling an increase in property values. This is one of the most promising signs of recovery in the Florida housing market.

Property appraisers and real estate agents are already seeing signs of improvement in the housing market. Appraisers for the downtown Miami area have seen property values increase over 12% this year over last year and higher income neighborhoods like Coral Gables are already seeing higher property taxes.

New TFCU Credit Cards Coming Soon

noreply@blogger.com (Mikhaila Clements) — Tue, 02 Aug 2011 20:18:00 +0000

Tropical Financial Credit Union (TFCU) is proud to announce two new credit cards coming soon!

TFCU members will soon be able to apply for a TFCU VISA Platinum Rewards Credit Card as well as a TFCU VISA Platinum Rewards Business Credit Card.

Earning rewards on purchases made with your TFCU credit card has never been easier!

Seasonal Uptick in South Florida Home Prices

noreply@blogger.com (Mikhaila Clements) — Wed, 27 Jul 2011 19:59:00 +0000

South Florida home prices inched up this May, but analysts say the increase may just be seasonal.

Since April, home prices in Miami-Dade, Broward and Palm Beach Counties rose 1.2%. However, analysts say there is more demand in the early summer months, resulting in seasonal higher home prices.

Florida Realtors reported an increase of 26% over last year for median home prices in Broward County, yet a 12% drop for median home prices in Palm Beach County.

South Florida home sales have been strong this year, but they still have a long way to go.

South Florida "Kills Three Birds with One Stone"

noreply@blogger.com (Mikhaila Clements) — Mon, 25 Jul 2011 19:37:00 +0000

Florida Governor, Rick Scott, has plans for a $43 million Eller Drive Overpass Project at Port Everglades which will "kill three birds with one stone."

The overpass will create 1,076 construction jobs, prepare for the Panama Canal widening, and ease congestion on roads near Port Everglades.

Shuttle Layoffs Hit Florida's Economy

noreply@blogger.com (Mikhaila Clements) — Mon, 18 Jul 2011 19:15:00 +0000

Approximately 9 thousand jobs will be lost when NASA's space shuttle program ends this month.

Watch the following video for more information about how Florida's economy will be affected by the discontinuation of the space shuttle:

Forget the Recession, Florida is in a "Mancession"!

noreply@blogger.com (Mikhaila Clements) — Fri, 15 Jul 2011 19:43:00 +0000

Florida's economy faced a severe downturn in 2008, but not all genders were created equally. The "mancession" hit male-dominated jobs, such as those in the construction and manufacturing industry, harder than typically female-oriented industries like education and health care.

The result has been greater unemployment statistics for men than women. Florida's unemployment rates in 2010 broken down by sex were 12.3% for males and only 9.7% for females.

Florida Ranks in Top 10 Housing Markets for Investors

noreply@blogger.com (Mikhaila Clements) — Fri, 15 Jul 2011 15:19:00 +0000

Three Florida cities: Ft. Lauderdale, Tampa and Orlando ranked in the top 10 housing markets for investors in rental property according to HomeVestors of America and Local Market Monitor.

This is a result of home prices falling substantially, potential home price appreciation and current high rent rates, all good news for investors looking to get the best returns on rental properties.

$1,000 Off Mortgage Closing Costs Offer Extended

noreply@blogger.com (Mikhaila Clements) — Mon, 11 Jul 2011 18:38:00 +0000

Tropical Financial Credit Union (TFCU) has extended our $1,000 Mortgage offer.

Apply for a mortgage by September 15th, 2011 and receive $1,000 off your closing costs!

Florida's Economy Better Than Last Year But Still Weak

noreply@blogger.com (Mikhaila Clements) — Wed, 06 Jul 2011 14:45:00 +0000

As we move into the second half of 2011, it is time to look back at the economy in South Florida over the last six months. Data from 15 key economic indicators suggest a slight improvement in South Florida's economy since last year, but we still have a long way to go.

Unemployment is on the rise yet again, despite the fact that many companies have been hiring recently. The figures are 13.4% in Miami-Dade and 9% in Broward County. Although this is nothing compared to the 23,600 jobs South Florida was losing each month in spring 2010, it shows a slow recovery to the job market.

The real estate market has also proved slow to recover. Although single-family home sales are up 18% over last year, the prices these homes are selling for are down almost 5% over 2010.

Some good news is found in consumer spending, tourism and trade. Taxable sales have increased almost 8% since last year and Miami continues to be one of the top 3 destinations in the U.S. for Latin Americans and Europeans.

Sizzling Summer Used Auto Sales Event

noreply@blogger.com (Mikhaila Clements) — Tue, 05 Jul 2011 17:56:00 +0000

Tropical Financial Credit Union (TFCU) is holding a Sizzling Summer Used Auto Sales Event this month only.

Finance a used car with TFCU this month and get Kelly Blue Book trade-in value for your existing car PLUS $1,000 cash! On top of all that, TFCU will make your first payment up to $300.

With used car loan rates as low as 2.99% APR, you can't afford to pass up this deal!

Introducing TFCU Mobile Banking!

noreply@blogger.com (Mikhaila Clements) — Tue, 05 Jul 2011 14:53:00 +0000

As a long time member of Tropical Financial Credit Union (TFCU), I am proud to announce the launch of TFCU Mobile Banking.

If you haven't already signed up for mobile banking, now is the time. TFCU is known for keeping banking simple and free of fees, but things just got even easier! Now you can access your Tropical account from your iPhone, Android phone, iPad, and even other mobile devices via text message.

There are 3 ways to access the Mobile Banking platform:

Mobile Web-Enabled Banking - Perfect for Android and other web-enabled mobile devices.
Tropical Financial iPhone App - For instant access to your TFCU account from your iPhone, iPad and iPod Touch.
Text Message Banking - Ideal for quick and easy account balances and transfers from any mobile device. Simply text a short command to 454545 to get your current account balance or transfer funds.

Of course, all of TFCU's Mobile Banking services are secure, easy to use, and most importantly - FREE!

Florida Foreclosures Take an Average of 2 Years

noreply@blogger.com (Mikhaila Clements) — Fri, 10 Jun 2011 17:49:00 +0000

If you are one of the many South Florida homeowners who have recently foreclosed on your home, you are likely still living in that home without making mortgage payments.

In Florida, it takes an average of 2 years to evict a homeowner from their foreclosed property. Nationally, the average is 565 days. This has resulted in many homeowners taking advantage of virtually free housing, not paying their mortgage for several years and still residing in the property.

About 4,200,000 foreclosure cases are currently underway. According to CNN Money, two thirds of these homeowners have not made a mortgage payment for at least one year, with one third stating they have not paid a penny in over 2 years.

11 Ways to Avoid Hurricane Costs

noreply@blogger.com (Mikhaila Clements) — Thu, 09 Jun 2011 19:42:00 +0000

The 2011 Hurricane Season is underway and now is the time to prepare. The National Oceanic and Atmospheric Administration (NOAA) predicts 6-10 hurricanes this year with 3-6 of those classified as major hurricanes. Hurricane damage can be costly, thankfully there are ways to protect your home from storm damage.

Here are 11 Ways to Avoid Hurricane Costs:

1. Plywood - Board up windows with plywood and nails.

2. Fabric Panels - These protect your windows from debris.

3. Hurricane Straps - These help secure your roof from high winds.

4. Flood Barriers - Whether it's sandbags or another product, protecting your home from flooding is a must.

5. Storm Panels - Steel or aluminum shutters provide more window protection than plywood.

6. Roll-Down Hurricane Shutters - The easiest and most convenient way to protect your windows.

7. Garage Door Braces - 80% of residential wind damage occurs because of entry through a garage door. Some newer garage doors are rated for winds up to 150 mph but older garage doors should be secured.

8. Hurricane Glass - A permanent solution for window protection.

9. Accordion Shutters - Retractable aluminum shutters which protect against storm damage and forced entry.

10. Bahama Shutters - Hinged at the top with telescoping arms to protect windows.

11. Colonial Shutters - Attach to the wall and fold inward to close.

Nearly Half of South Florida Homes Underwater

noreply@blogger.com (Mikhaila Clements) — Wed, 08 Jun 2011 20:36:00 +0000

Nearly half of all homes in South Florida were in negative equity, or underwater, after the first quarter of this year.

In Miami, 46.6% of homes were underwater, while the figure was 49.4% in Ft. Lauderdale.

Having negative equity, or being underwater, means that borrower owes more on their mortgage than their home is worth.

USF Building a Solar House You Might Live in Soon

noreply@blogger.com (Mikhaila Clements) — Fri, 03 Jun 2011 20:30:00 +0000

The University of South Florida (USF) is exploring the cutting-edge of Florida housing by building a solar house, competing to win in the U.S. Solar Decathlon to build the most energy efficient house.

More than 50 students and faculty members from universities across Florida will help design, engineer, plan and build the solar house which is a mixture of modern green energy technology and simple cooling techniques used in Florida homes before air conditioning became the norm.

If everything works as planned, the house will generate as much energy as it uses and will be affordable and easy to build.

Who knows, your next home might be a solar house!

It's Time to Get Ready for Hurricane Season 2011

noreply@blogger.com (Mikhaila Clements) — Tue, 31 May 2011 20:38:00 +0000

Tomorrow, June 1, 2011, marks the start of Hurricane Season. Tropical Financial Credit Union (TFCU) wants to remind you to stock up on the necessities before the storms draw near.

Now is the time to check your roof for leaks, trim down your trees and stock up on water and non-perishable foods.

It is also important to have a battery operated radio and flashlights handy in the event that the power goes out. Also, having an extra supply of cash and any medication you may need is essential, as ATMs and pharmacies may not be in working order.

The best way to weather a hurricane is to be prepared. TFCU reminds you to prepare now and not wait until the last minute when stores may be sold out and lines will be long.

Stay safe this hurricane season!