FIRST EDITIONUpcoming Seminars

Thursday, September 13 IRC’s Social Security & Your Retirement Seminar, 6pm at the Freehold/Howell Branch

Wednesday, September 19ID Theft Seminar, 6pm at the Toms River Branch

1SUMMER 2018 • A Quarterly Member Publication

Thursday, October 11 IRC’s Social Security Seminar, 6pm at the Toms River Branch

Wednesday, October 17Credit Management & Debt Reduction Seminar, 6pm at the Neptune Branch

Visit First Financial’s event calendar to register for upcoming seminars at firstffcu.com or text “FFSEMINAR” to 69302 to receive updates and register on your mobile phone.

DO 0% INTEREST CREDIT CARDSHAVE A DARK SIDE?

If credit card interest payments were merely a matter of mathematics, 0% interest would be a no-brainer. Given a choice between paying interest or not paying interest, of course nobody would choose to pay, would they? Common sense says paying ZERO dollars in interest is the best possible way to borrow money. So, why should you think twice before agreeing to a 0% interest credit card or balance transfer promotion? Two words: Fine Print.

All That Glitters is Not Gold.

There’s a marketing proverb that says, “Sell the sizzle, not the steak.” And make no mistake, 0% offers are most definitely sizzle! If utilized properly, these promotions can save you money. But if you don’t pay close attention to the details found in the fine print of cardholder agreements, those offers could wind up costing you more than you wanted to pay (which is sadly, often the case). With so many credit card companies offering 0% interest cards and balance transfer promotions, it’s difficult to compile an exhaustive list of potential pitfalls. So rather than trying to cover all the caveats, let’s focus on the features that, if ignored – could quickly take the shine off any promotional offer.

• Transfer Fees.In many instances, transferring a balance from one credit card to another involves a fee (usually ranging from 3–5% of the balance). Depending on the amount you transfer, this additional fee could significantly lessen your overall savings. Not every balance transfer promotion includes a fee, so do your research before you accept an offer. It’s never fun to discover unexpected fees after you’ve already committed to an offer’s terms and conditions.

• Steep Interest Charges After the Introductory Period Ends.0% interest is a good thing. But unfortunately the adage is true: all good things must come to an end. Most of these promotions include a limited-

time introductory period of 0%, after which the remaining balance will begin accruing interest—often at a high rate. If you plan to pay off your entire balance during the introductory period, the transfer can be a huge benefit. However, if you’re planning to carry the balance forward or if you forget to pay your balance off before the 0% ends, it’s best to know when interest charges will start and how much they will be. Once again, reading the cardholder agreement and fine print is key. After the 0% introductory period ends, some credit cards can have an APR* of nearly 30%—and if your balance isn’t paid off by this time, you could be charged that insanely high interest rate for not only what you have left to pay off, but what you transferred over in the first place. We can’t say it enough: before you open a 0% interest credit card, be sure you understand the terms and conditions in full.

• Higher Interest Rates on New Purchases.Be careful. The 0% interest rate on your transferred balance also rarely applies to new purchases. The major credit card companies are in business to make money, and interest charges are their primary source of revenue. By charging a higher interest rate on new purchases, credit card companies can offset the interest they’re missing over the course of the promotional introductory period. Before you start racking up charges above and beyond the balance you transfer, take time to know exactly how much interest you’ll be paying.

First Financial’s Visa® Credit Cards offer benefits that include higher credit lines, lower APRs*, no annual fees, no balance transfer fees, a 10-day grace period, rewards (cash back or travel & retailer gift cards), an EMV security chip, and more!**

**Visit firstffcu.com/visa-credit-cards for details, requirements and how to apply!*APR=Annual Percentage Rate

Note from the CEOWe are more than halfway through the year, and we hope you are thoroughly enjoying the summer sunshine—and planning some fun or relaxing activities with family and friends.

Maybe as you spent time on the road this summer—perhaps driving back and forth to the beach, or on a family road trip or vacation—you started thinking about the expense of operating your vehicle and that hefty monthly payment. Before Labor Day arrives, we challenge you

to see if we can beat your current auto loan rate by 2% with our 2% Challenge. Stop into any First Financial branch, or get started online by completing our quick auto loan review form at firstffcu.com.

Have a vacation planned before summer ends? Before you finish packing that suitcase, apply for our Visa® Signature cash back credit card. You’ll earn cash back on your vacation expenses, plus you’ll get to take advantage of all the great travel benefits this card has to offer, like Visa® Concierge, Lost Luggage Replacement, Trip Cancellation Coverage, Identity Theft Restoration, Cell Phone Protection, and more.

We thank you for your continued support, loyalty, and membership with First Financial. Here at First Financial we are committed to providing you with convenient, value-driven banking services and financial solutions. We hope the remainder of your summer is an enjoyable one, and as always, thank you for Thinking First and God Bless!

Sincerely,

Issa Stephan, CCUE, President & CEO

SUMMER 2018 • A Quarterly Member Publication

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Calling all teachers! Does your classroom need a little help for the 2018–2019 school year? Tell us what your classroom needs are!

The First Financial Foundation will be awarding classroom grants up to $500 each this coming fall*. Grants will be awarded to Monmouth and Ocean County schools.

The school year is starting soon so don’t forget to apply! Grant applications will be accepted until September 30, 2018.

To submit an entry please send an email to foundation@firstffcu.com no later than 11:59pm on September 30. Your email should tell us in 500 words or less how much you are requesting (up to $500), and what you would use the grant for. You can also submit a YouTube video no longer than 3 minutes in place of an email. Please be sure to include your full name, position, school name, address, a contact phone number, and your email address. Administrators may also nominate educators.

All grant recipients will be notified by the First Financial Foundation on or around October 15, 2018.

Good Luck!

See if we can beat yourauto loan rate by

*APR=Annual Percentage Rate.See credit union for details, or visit firstffcu.com/challenge.htm

Drop your rate and fatten your wallet!

2018 Classroom Grants:Call for Entries

*See credit union for details, or visit firstffcu.com/the-first-financial-foundation.htm

Holiday Closings9/3: Labor Day 3

SUMMER 2018 • A Quarterly Member Publication

We’re collecting box tops for local schoolsto support teachers and classrooms in

Monmouth and Ocean Counties.

Donate Your Box Tops!

Box top donations will be rotated between various Monmouth and Ocean County schools on a monthly basis. Federally insured by NCUA.

Donate in any branch today!

As people move through different stages of life, there are new financial opportunities and potential pitfalls around every corner. Have you made any of these mistakes?

Your 20s

1. Living beyond your means. It’s tempting to splurge on gadgets, entertainment, and travel. If you can’t pay for most of your wants up-front, then you need to rein in your lifestyle, especially if you have student loans to repay.

2. Not paying yourself first. Save a portion of every paycheck first and then spend what’s left over, not the other way around. And why not start saving for retirement, too? Earmark a portion of your annual pay now for retirement and your 67-year-old self will thank you.

3. Being financially illiterate. Learn as much as you can about saving, budgeting, and investing now and you will benefit from it for the rest of your life.

Your 30s

1. Being house poor. Whether you’re buying your first home or trading up, think twice about buying a house you can’t afford—even if the bank says you can. Build in some wiggle room for a possible dip in household income that could result from leaving the workforce to raise a family, a job change, or layoff.

2. Not saving for retirement. Maybe your 20s passed you by in a bit of a blur and retirement wasn’t even on your radar. But now that you’re in your 30s, it’s essential to start saving for retirement. Start now and you still have 30 years or more to save. Wait much longer and it can be very hard to catch up.

3. Not protecting yourself with life and disability insurance. Life is unpredictable. Consider what would happen if one day you were unable to work and earn a paycheck. Life and disability insurance can help protect you and your family. Though the cost and availability of life insurance will depend on several factors including your health, generally the younger you are when you buy life insurance the lower your premiums will be.

Your 40s

1. Trying to keep up with the Joneses. Appearances can be deceptive. The lifestyle your friends, neighbors, or colleagues enjoy might look nice on the outside, but behind the scenes there may be a lot of debt supporting it. Don’t spend money you don’t have trying to keep up with others.

2. Funding college over retirement. In your 40s, saving for your children’s college costs at the expense of your own retirement may be a mistake. If you have limited funds, consider setting aside a portion for college while earmarking the majority for retirement. Then sit down with your teenager and have a frank discussion about college options that won’t break the bank — for either of you.

3. Not having a will or an advance medical directive. No one likes to think about death or catastrophic injury, but these documents can help your loved ones immensely if something unexpected should happen to you.

Your 50s and 60s

1. Raiding your home equity or retirement funds. It goes without saying that doing so will prolong your debt and/or reduce your nest egg.

2. Not quantifying your expected retirement income. As you near retirement, you should know how much money you (and your spouse, if applicable) can expect from three sources:• Your retirement accounts such as 401(k) plans, 403(b) plans, and IRAs• Pension income from your employer, if any

• Social Security (at age 62, at your full retirement age, and at age 70)

3. Co-signing loans for adult children. Co-signing means you’re 100% on the hook if your child can’t pay, a less-than-ideal situation as you’re getting ready to retire.

4. Living an unhealthy lifestyle. Take steps now to improve your diet and fitness level. Not only will you feel better today, but you may reduce your healthcare costs in the future.

HAVE YOU MADE ANY OF THESE FINANCIAL MISTAKES?

Schedule a no-cost appointment with First Financial’s Investment & Retirement Center by contacting us at 732.312.1414 or email Mary.LaFerriere@cunamutual.com.

Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured,

May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. Article prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2018.

Loan Connection 732.312.1500, Option 4

To Fax Loan Applications732.312.1530 (24-hour)

Member Relationship Center Phone Hours Monday-Friday 8:00am – 6:00pmSaturday 8:30am – 1:00pm

Contact Us Local Callers 732.312.1500 Out of Area 866.750.0100 info@firstffcu.com

Neptune Branch783 Wayside Road

Toms River Branch1360 Route 9 SouthCorner of Routes 9 & 571

Freehold/Howell Service Center389 Route 9 NorthNext to Howell Park & Ride

Board of Directors

Gordon Holder Chairperson

Earl Sutton, Jr. Vice Chairperson

David Graf Secretary & Treasurer

Elizabeth M. White

Laurita Carr

Catherine McLaughlin

Karen Fiore

Supervisory CommitteeElizabeth M. WhiteCommittee Chairperson

Ronald Minsky

Mitch Thaler

John Ceresani

Issa E. StephanCCUE, President/CEO

First Financial’s Supervisory Committee has the responsibility to investigate member complaints that cannot be resolved through normal channels. If you have a complaint or suggestion to improve our service to you or if you have an unresolved problem, please write to:

Supervisory CommitteeP.O. Box 751,Neptune, NJ 07754

SUMMER 2018 • A Semi-Annual Member Publication

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Information contained in “First Edition” is intended to summarize products and services. It is not a complete disclosure of all terms and conditions. All rates and terms are subject to change without notice. For full details, please contact First Financial Federal Credit Union directly at 732.312.1500, email info@firstffcu.com, or visit firstffcu.com. Federally insured by NCUA. 4

TEACH YOUR KIDS TO TAKE A STAND—A LEMONADE STAND.

Long before Beyoncé transformed it into a cultural touchpoint, lemonade was the commodity of choice for childhood business ventures. Perhaps you had a lemonade stand of your own, or maybe you just knew someone who did. Either way, the memories of ice cold refreshment probably ride on a warm wave of nostalgia. If your enterprise was especially successful, you might even hear a faint “cha-ching” as you reminisce.

Fast-forward a decade or two, and now you find yourself juggling the demands of family, friends, and career. Thanks to the latest technology, it’s easy to let your kids spend their weekends drifting along on a digital stream of Snapchat streaks and Fortnite marathons. Shake up your child’s routine with a little old school entrepreneurship. It’s time to bring back the lemonade stand.

Let Your Kids in on the Fun.

When you were young, running a lemonade stand didn’t feel like a job—it felt like freedom. So don’t worry that encouraging your children to work will somehow rob them of their weekend fun. The venture can be fun, and the lessons they learn from operating a small business can last a lifetime. What lessons? Glad you asked!

Goal Setting

Believe it or not, this one comes pretty naturally to kids. If you ask them what they want to do with the money they earn, they’ll

probably have at least one goal already in mind. It may be a video game, a bike, or new clothes, but whatever it is their motivation won’t be hard to find. When they finally save up enough to buy what they want, the sense of accomplishment will be something you can build on for the rest of their life.

Entrepreneurship

Operating a lemonade stand is an excellent way to help your children learn that it costs money to create something. After all, lemons and sugar aren’t free. Understanding economic concepts like cost of goods and profit margins will give your kids a valuable perspective with real-world applications. As they plan their drink prices, let them decide what to charge. Positive or negative, the lessons they learn from experience will help them with future planning.

Responsibility

Like many things in life, lemonade stands are super fun at the beginning! But after a few hours of sitting in the sun, there’s a pretty good chance your little entrepreneur will want to close up shop. While it may be frustrating (for you and them), this scenario provides an excellent opportunity to teach them that you can’t just walk away when you get bored. And let’s be honest, we can all use this reminder from time to time, can’t we?

Creativity

Challenge your child to think about how to separate themselves from their competition. Of course, this may be hypothetical competition since modern-day lemonade stands are few and far between. Depending on their age, your little one may focus on colorful sign design at first. This focus is understandable, since making the sign is half the fun. But beyond that, feel free to offer creative suggestions. Could they provide a sugar-free alternative? Maybe offer an iced coffee alternative to appeal to more customers? How about spreading the word with a social media post? Should they accept payment through Venmo® or PayPalTM? Like a child’s imagination, the options are limitless. So is the fun!

At this point, you may feel like opening up a lemonade stand whether your kids are interested or not! Channel that excitement and energy into helping them see the fun-filled potential of the idea, and don’t be afraid to get in there and help them when they need it. The time spent together will be even more valuable than the money earned and the lessons learned.