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Get All the Latest News from YOUR Credit Union
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In this Issue: Vehicle Loans Starting at 3.99% -Â HOPE Launches Redesigned Website - Stories of HOPE: Writing the Recipe for Success - 6 Debt Consolidation Traps to Avoid -Â Get Smart with Your Money - UNCF UNITE Summit Deepens Partnership with HBCUs
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Low rates and flexible terms on cars, trucks, SUVs, ATVs, boats, and RVs
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- Up to 7 Years to Repay
- Up to 100% Financing
If you’re looking for a new set of wheels, find a new road forward with a vehicle loan from HOPE. Take advantage of our low rates to save money and keep your monthly payments affordable.  Whether you want to buy a new or pre-owned car, an SUV, truck or recreational vehicle, or refinance your existing auto loan, HOPE is ready to work with you to help make it happen.  Learn more and get started at www.hopecu.org/auto.3 You can also stop by a branch or give us a call to learn more or get assistance from our team of lending professionals. Â
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¹ Loans are subject to approval. ² “APR” is Annual Percentage Rate. Advertised “as low as” annual percentage rates (APR) assume excellent borrower credit history. Your actual APR may differ and will be based upon several factors, including credit history, model year, term, and loan amount. A loan with the lowest advertised interest rate of 3.99% (4.092% APR) on a new vehicle (up to 3 years old) for $20,000.00 (minimum) over 60 months (maximum) would have a monthly payment of $368.28. A loan with an interest rate of 5.99% (6.033% APR) on a new vehicle (up to 3 years old) for $35,000.00 (minimum) over 84 months (maximum) would have a monthly payment of $511.23. A loan with an interest rate of 12.99% (13.124% APR) for 48 months on a used vehicle would have a monthly payment of $536.61. Additional rates and terms are available. Advertised rates are available on loans made from August 1, 2024, through December 31, 2024. ³ Term of 72 months only available for vehicles up to 5 years old and loan amounts of at least $20,000. Term of 84 months term only available for vehicles up to 3 years old and loan amounts of at least $35,000.
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Visit HOPE’s New Home on the Web Redesigned Site Makes Navigation Easier, Provides More Tools
for Members  A new version of HOPE’s website was launched Wednesday, August 28. If you have visited www.hopecu.org since then, you have seen the refreshed design and streamlined navigation that were created to enhance the user experience for our members, partners, and funders. The updated online presence is member-driven and organized make products, services, and information available quickly and easily.  The redesign includes new content, new functionality, improved navigation, and increased access to online applications for both new and current members. Spend some time exploring the enhanced site and take advantage of the tools and resources it offers.  In future editions of Member Connect, we’ll highlight some of the most important content and commonly used features to help you get the most out of everything the new site offers. This month, we’re featuring the new digital banking login design.  Depending on the screen size of your device, our home page presents an “always on” login box. If you are on a smaller screen or on any other page of the site, digital banking is always available by selecting “Login” button in the top right corner of the screen. Give it a try and get connected today. .
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Digital Banking Access - Computer/Large ScreenÂ
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Digital Banking Access - Mobile/Small ScreenÂ
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Stories of HOPE: Writing the Recipe for Success  Dr. Crystal Sanders established Ms. Ann’s Catering in 2015. She started the business to honor her late grandmother, who left her mark with her down home cooking style. “We were looking for ways that we could help her legacy live on, and the restaurant was our way of sharing her recipes with the world,” says Sanders. As the catering business grew, the family sought a more permanent location for Ms. Ann’s Catering and an event space they could rent out for large gatherings.  At the time, there was only one other Black-owned event venue in Hattiesburg, Mississippi. Sanders and her father ultimately chose to purchase land and build a venue. However, the financing did not come easy. When they applied for a construction loan with their financial institution, their loan was denied. They then turned to HOPE and the loan was approved.  “I am grateful for HOPE…they gave us a chance when no one else gave us a chance,” says Dr. Sanders. Ms. Ann’s Catering now has a home and is staffed by 11 family members. “My grandmother would be proud that she has two businesses now that will be a part of our family for generations to come.”  Read more Stories of HOPE in our 2024 Second Quarter Report.
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6 Debt Consolidation Traps to Avoid  As of 2023, the Federal Reserve reports that the average American carries $6,271 in credit card debt. Combine this with a line of credit, a car loan, or student debt, and it’s easy to see why debt consolidation might seem like the best way to consolidate debt. However, if not approached carefully, debt consolidation can actually worsen your financial situation. Here are six common mistakes (and some best practices on how to avoid them).  1. Overlooking the Root Cause of Debt Debt consolidation can seem like the best way to manage debt when bills are stacking up, but it often fails to address the underlying spending habits that led to the debt. Think of it as putting a bandage on a wound without addressing the infection underneath—until you tackle the root cause of your spending habits, the problem is likely to persist.  2. Not Researching Your Options There are various ways to consolidate debt, such as secured or unsecured loans, balance transfer credit cards, and debt management programs. Understanding the pros and cons of debt consolidation options can significantly impact your financial situation, so it’s important to do your homework.  3. Consolidating the Wrong Debts Consolidating all debts, including those with low interest rates, can lead to paying more in the long run. It’s important to be strategic about which debts you consolidate to avoid unnecessary costs.  4. Choosing the Wrong Professional The debt settlement industry can have a reputation for aggressive tactics and questionable practices, which can leave you vulnerable to scams and potentially harm your credit score.  5. Using Your Cards Too Soon After consolidating debt, it’s tempting (and all too common) to start using your credit cards again. But this slippery slope can lead you right back to where you started.  6. Not Revisiting Financial Goals After consolidating debt, it’s crucial to update your financial goals to ensure you stay on track. Without clear, updated goals, you might struggle to maintain your financial discipline and end up falling back into old habits.  Need help sticking to your financial goals? GreenPath, HOPE’s financial wellness partner, provides personalized plans for lasting debt relief. Learn more about what GreenPath can do for you or give them a call at 1-877-337-3399.  Read the complete article. Â
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Get Smart with Your Money! Smart Money Insights PFM helps you know how to make the most of your money.  HOPE wants to our members to have all the tools they need to be successful. One great way we’ve done that is with our Smart Money Insights PFM (Personal Financial Manager).  Our free Smart Money service gives you the power to manage all of your finances through an integrated online site. Using the PFM can help you avoid some of the pitfalls listed in the previous article.  Use Smart Money to: - Save time. See all of your accounts in one place (even those at more than 12,000 other financial institutions).
- Avoid fees. A cash-flow calendar helps you see your available funds so you can be prepared to pay bills on time.
- Easily create budgets. Your Smart Money Insights management tool can quickly create a budget that is uniquely yours and fits your lifestyle.
- Track spending. You are in control with Smart Money Insights. Receive account alerts by email or text when particular account balances change, transactions to a specific retailer occur, or when you are close to exceeding a budget category. There is no need to log in to home banking constantly to track activity; Smart Money Insights will keep you informed.
- Set and monitor goals. Visually track your progress, make reaching your financial goals quick and easy. With Smart Money Insights, you can create savings goals, like vacations or debt reduction.
- Build wealth. There is no need to keep manually updating a spreadsheet. The Smart Money Insights Net Worth tool does that for you and helps you quickly add all your assets and debts to show you an up-to-date estimate of your net worth.
Experience the HOPE Smart Money Insights PFM for yourself by exploring our customized demo site. You may enter any email (including a fake one) when prompted.  If you’re ready to start using it to build a brighter financial future, log in to the HOPE digital banking site and start setting your budget and goals today. Â
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UNCF UNITE Summit Deepens Partnership with HBCUs  At the United Negro College Fund (UNCF) UNITE 2024 Summit in Atlanta, Administrator Regan of the Environmental Protection Agency (EPA) unveiled initiatives strengthening partnerships with HBCUs, including a $2.5 million grant to tackle environmental challenges. This move highlights the Biden-Harris Administration’s dedication to these institutions, aiming to enhance workforce development and support community projects.  During the conference, HOPE hosted the forum “Banking on Black: HOPE and HBCUs Stronger Together". The forum highlighted HOPE’s long history of engagement with HBCUs in the Deep South and with its partners supporting community development in the neighborhoods surrounding HBCU campuses.  Learn more with HOPE's HBCU-CDFI Economic Mobility Strategy Guide. Â
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Labor Day Monday, September 2 Â Indigenous People's Day Monday, October 10
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Remember, HOPE's Convenience Services are available even when our branches are closed. You still have 24/7 access to many functions for managing your account using our Digital Banking or our HOPE24 Telephone Banking solutions.  Learn more about all the great ways to manage your finances.Â
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Hope Credit Union 601-944-1100 | 1-866-321-HOPE Â See what's happening on HOPE's social media:
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