Author Archives: Chief Marketing Officer Jessica

Credit Freeze vs. Credit Lock: What’s the Difference?

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A credit freeze and a credit lock can both make it harder for an identity thief to open a new account in your name. Although the terms sound similar – they differ in cost, legal protection, and how they are managed.

Understanding the differences can help you choose the right safeguard, especially after a data breach, identity theft warning, or suspicious activity on your credit report.

What is a Credit Freeze?

A credit freeze (also called a security freeze), restricts most access to your credit report. Since lenders commonly review a credit report before approving a new loan, a freeze can help stop someone from opening an account or applying for a loan using your identity.

Federal law gives consumers the right to place and lift a credit freeze for free. A freeze does not affect your credit score and stays in place until you remove it or temporarily lift it.

Key things to know about a credit freeze:

  • You must place it separately with each credit bureau – Equifax, Experian, and TransUnion.
  • It will block legitimate credit applications as well as fraudulent ones.
  • You can temporarily lift it when you need to apply for credit.
  • It does not close existing accounts or stop fraud on an account that is already open.
  • Parents and guardians can request a freeze for an eligible minor child.

What is a Credit Lock?

A credit lock also restricts access to a credit report, but it is a service offered by a credit bureau rather than a consumer right guaranteed under federal law. You will generally manage a lock through the bureau’s website or mobile app.

Some lock services are free, while others are included in paid identity monitoring packages. Features and costs vary, so you’ll want to review which credit reports the service covers, what alerts it includes, and what happens when you cancel.

Credit Freeze vs. Credit Lock at a Glance

Credit Freeze

  • Free to place, lift, or remove.
  • Protected by federal law.
  • Managed separately with each credit bureau.
  • Remains active until you lift or remove it.

Credit Lock

  • Cost depends on the provider.
  • Administered by the provider’s service terms.
  • Usually controlled through an app or online account.
  • May include monitoring, alerts, or other identity protection features.

Both tools can restrict access used to process new credit applications, and neither one replaces regular account and credit report monitoring.

Which Option is Right for You?

A credit freeze may make sense when you want a free option established by law, do not plan to apply for new credit soon, or believe your personal information has been exposed. It may also be useful as a preventive measure even when you have not experienced identity theft.

A credit lock may appeal to someone who wants app-based controls and values additional alerts or monitoring services. Compare the cost and coverage carefully. A paid lock is not necessarily more effective at restricting access than a free credit freeze.

What Happens When You Apply for Credit?

Before applying for a loan, credit card, or another account, you will generally need to lift the freeze or unlock the applicable credit report. After the credit review is complete, confirm that your freeze or lock is active again.

How is a Fraud Alert Different?

A fraud alert does not block access to your credit report. Instead, it tells businesses to take additional steps to verify your identity before opening an account. You only need to contact one of the three credit bureaus to place an initial fraud alert, and that bureau must notify the other two.

A fraud alert can be useful when you suspect identity theft, but still expect lenders to access your credit report. It does not offer the same access restriction as a freeze or lock.

Continue Monitoring Your Information

A freeze or lock focuses mainly on new account/loan application fraud. Continue reviewing your current bank and credit card accounts, checking your credit report, using strong passwords, and investigating unfamiliar activity.

Review our identity theft protection guide and explore our fraud prevention and identity theft resources for more ways to protect your personal and financial information. You can also visit the Preventing Identity Theft section of our First Scoop blog. If you notice suspicious activity involving one of your First Financial accounts, call 732-312-1500 or visit your local branch.

Article Sources: Federal Trade Commission | Consumer Financial Protection Bureau

What is Check Fraud? How it Happens and Why it’s Increasing

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Check fraud may sound like an old problem, but it’s still one of the fastest-growing types of financial fraud, and it can affect anyone. While many payments now happen online, millions of people still use paper checks to pay rent, send gifts, make business payments, or cover bills. And any time money is moving, you can guarantee fraudsters are paying attention.

Check fraud has changed over the years. It’s no longer just about stolen checks or forged signatures. Today, criminals use a mix of theft, scams, and technology to steal money and personal banking information. Understanding what check fraud is and why it’s increasing can help you protect your money and avoid becoming a victim.

What is Check Fraud?

Check fraud happens when someone uses a check illegally to steal money or gain access to personal and financial information.

That can mean stealing a check from the mail, creating a fake check, changing the details on a real check, or using scams to convince someone to deposit a fraudulent check.

Checks include sensitive information like your full name, address, account number, and routing number. In the wrong hands, that information can be used for more than just one transaction. And because checks can take time to process, fraud may not be discovered right away.

Why is Check Fraud Increasing?

One of the biggest reasons check fraud continues to rise is mail theft. Criminals often target residential mailboxes, mailrooms, and public mail collection boxes looking for outgoing payments like rent checks, utility bills, or gifts. Once a check is stolen, it can be altered, copied, or used to access personal banking information – turning one stolen envelope into a much larger financial problem.

Checks Still Contain Valuable Information

Checks contain a significant amount of personal and financial information in one place. This information can be used not only to steal from your account, but also to create counterfeit checks or commit other types of financial fraud. That makes checks especially valuable to criminals looking for easy access to sensitive information.

Scams are Evolving

Check fraud is no longer limited to physical theft. Scammers now use fake job offers, prize notifications, and online marketplace scams to send bogus checks and pressure victims into sending money back. These scams often create urgency and can look convincing.

Fraud Spreads Faster Online

Social media, online job boards, and digital marketplaces make it easier for scammers to reach more people, especially younger adults. A fake opportunity can spread quickly and look legitimate.

Who is Most at Risk?

Anyone who uses checks, or receives them, can be at risk. But some groups may face greater exposure.

  • Renters and Households Paying Bills by Check: Rent payments and mailed bills often involve large amounts of money and predictable timing, making them attractive targets.
  • Small Business Owners: Businesses may issue multiple checks each month for payroll, vendors, or operations. More transactions can mean more opportunities for fraud.
  • Older Adults and Seniors: Many older adults still rely on checks for bills, gifts, or charitable giving. They may also be more likely to use the mail regularly, increasing exposure to mail theft.
  • Families Managing Shared Accounts: When multiple people use the same account, unusual activity can be easier to miss if no one is reviewing statements regularly.
  • Younger Adults and First-Time Workers: Younger generations may not write many checks, but they are often targeted through fake job scams, prize scams, and online marketplace scams.

Many of these scams also involve electronic checks, where a scammer sends a fake check digitally or instructs the victim to deposit or transfer funds electronically before the check fully clears.

A scammer may “hire” someone, send a check for supplies or equipment, and ask the recipient to send money back. Later, the check bounces – and the victim is unfortunately responsible for the lost money.

Why it Matters

Check fraud can create more than just financial loss – it can disrupt your life. Victims may face:

  • Unauthorized withdrawals
  • Delayed bill payments
  • Missed rent or utility payments
  • Overdraft fees
  • Account freezes
  • Stress and time spent resolving fraud

For some households, even a temporary loss of funds can create serious challenges. In fake check scams, victims may lose money they willingly sent – without realizing the original check was fake. The more you understand about how check fraud works, the better prepared you are to recognize suspicious situations and protect yourself.

Simple Steps to Protect Yourself

You do not need to stop using checks altogether, but it helps to use them carefully. Start with these simple habits:

  • Mail checks from secure locations, like inside the post office.
  • Avoid leaving outgoing mail in your mailbox overnight.
  • Review your bank account regularly.
  • Set up transaction alerts through your financial institution.
  • Be cautious of checks connected to job offers, prizes, or urgent requests.
  • Contact your financial institution quickly if something feels wrong.

Check fraud is growing, but knowledge and simple habits can help reduce your risk.

Check yourself – stop check fraud before it starts.

Article Source: Made in partnership with the American Association of Credit Union Leagues, America’s Credit Unions, and TruStage

How Much Cash Should Your Business Have on Hand?

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Business revenue and available cash are not the same thing. Your company may have strong sales and still struggle to cover payroll, rent, or an urgent repair. A dedicated cash reserve can help your business continue meeting essential obligations when money comes in later than expected or an unplanned expense arises.

How Much Should You Keep in Reserve?

A common starting point is enough cash to cover three to six months of essential operating expenses. That range is a guideline, not a universal rule. The right amount depends on your business model, revenue patterns, payment cycles, staffing, and fixed costs.

A business with reliable monthly revenue and quick customer payments may need a different reserve than a seasonal company that regularly waits 60 or 90 days for invoices to be paid. Your goal should reflect how money moves through your business, not an arbitrary number.

Which Expenses Should Your Reserve Cover?

Start by identifying the costs your business must pay to keep operating. These may include:

  • Employee payroll and benefits
  • Rent or mortgage payments
  • Utilities, insurance, and required licenses
  • Essential inventory, supplies, and vendor payments
  • Required loan or business credit card payments
  • Software, technology, and professional services
  • Equipment maintenance and repair
  • The business owner’s regular compensation

Separate essential expenses from costs you could pause or reduce. That distinction gives you a more realistic estimate of the minimum your business needs each month.

How to Calculate a Starting Goal

  1. Review a Full Year of Expenses

Look at the previous 12 months to capture costs that do not occur every month, such as annual insurance premiums, licensing fees, tax payments, or seasonal inventory purchases.

  1. Calculate Average Essential Monthly Costs

Add your essential operating expenses for the year and divide the total by 12. For example, if essential expenses total $240,000, your average monthly operating cost is $20,000.

  1. Select a Coverage Target

Multiply that monthly amount by the number of months you want the reserve to cover. Using the example above, a three month reserve would be $60,000 and a six month reserve would be $120,000.

Factors That May Change Your Target

Revenue Consistency: Seasonal sales, project-based work or large month-to-month changes can create longer gaps between income and expenses. Reviewing prior cash flow patterns can help you prepare for slower periods.

Customer Payment Timing: If customers routinely pay on longer terms, your reserve may need to cover several weeks of operating costs while invoices remain outstanding. Track how long it actually takes to collect payments, not just the terms shown on your invoices.

Payroll and Fixed Overhead: Businesses with employees, leased space, or other significant fixed costs may use cash more quickly than businesses with flexible overhead. You’ll also want to include any owner compensation so the estimate reflects the true cost of operating the company.

Essential Equipment and Concentrated Revenue: Consider what it would cost to repair equipment your business cannot operate without. You may also need a larger cushion if one customer provides a significant portion of your revenue.

Practical Ways to Build Your Reserve

  • Create a specific reserve goal and include contributions in your monthly budget.
  • Transfer a set dollar amount or percentage of revenue on a consistent schedule.
  • Send invoices promptly and follow up on overdue balances.
  • Review recurring expenses and redirect unnecessary costs into savings.
  • Keep reserve funds separate from the account used for everyday purchases.
  • Set guidelines for when the reserve can be used and how it will be replenished.

Review as Your Business Changes

Revisit your reserve goal when you hire employees, add equipment, or experience changes in customer payment timing. A reserve that worked two years ago, may not reflect today’s operating costs.

A separate deposit account can make your reserve easier to track while keeping the funds accessible. If your business is local to Monmouth or Ocean Counties, learn more about First Financial Business Savings Accounts, call 732-312-1500 to speak with a member of our team, or visit a local branch.

*A First Financial membership is available to anyone who lives, works, worships, volunteers or attends school in Monmouth or Ocean Counties. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. Other terms & conditions may apply, see credit union for details.

Article Sources: Capital One | PNC

Where Will Your Retirement Money Come From?

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What workers anticipate in terms of retirement income sources may differ considerably from what retirees actually experience. For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources:

Social Security

Social Security is the government-administered retirement income program. Workers become eligible after paying Social Security taxes for 10 years. Benefits are based on each worker’s 35 highest earning years. If there are fewer than 35 years of earnings, non-earning years are averaged in as zero. For 2026, the average monthly benefit is estimated at $2,071.1,2

Personal Savings and Investments

Personal savings and investments outside of retirement plans can provide income during retirement. Retirees often prefer to go for investments that offer monthly guaranteed income over potential returns.

Individual Retirement Account

Traditional IRAs have been around since 1974. Contributions you make to a traditional IRA may be fully or partially deductible, depending on your individual circumstances. In most circumstances, once you reach age 73, you must begin taking required minimum distributions from a Traditional Individual Retirement Account (IRA). Withdrawals from Traditional IRAs are taxed as ordinary income, and if taken before age 59½ – may be subject to a 10% federal income tax penalty. You may continue to contribute to a Traditional IRA past age 70½ as long as you meet the earned-income requirement.

Roth IRAs were created in 1997. Roth IRA contributions cannot be made by taxpayers with high incomes. To qualify for the tax-free and penalty-free withdrawal of earnings, Roth IRA distributions must meet a five-year holding requirement and occur after age 59½. Tax-free and penalty-free withdrawals also can be taken under certain other circumstances, including as a result of the owner’s death. The original Roth IRA owner is not required to take minimum annual withdrawals.

Defined Contribution Plans

Many workers are eligible to participate in a defined-contribution plan such as a 401(k), 403(b), or 457 plan. Eligible workers can set aside a portion of their pre-tax income into an account, which then accumulates, tax-deferred.

In most circumstances, you must begin taking required minimum distributions from your 401(k) or other defined contribution plan in the year you turn 73. Withdrawals from your 401(k) or other defined contribution plans are taxed as ordinary income, and if taken before age 59½, may be subject to a 10% federal income tax penalty.

Defined Benefit Plans

Defined benefit plans are “traditional” pensions, or employer–sponsored plans under which benefits rather than contributions, are defined. Benefits are normally based on factors such as salary history and duration of employment. The number of traditional pension plans has dropped dramatically during the past 30 years.3

Continued Employment

In a recent survey, 73% of workers stated that they planned to keep working in retirement. In contrast, only 25% of retirees reported that continued employment was a major or minor source of retirement income.4

Expected vs. Actual Sources of Income in Retirement

What workers anticipate in terms of retirement income sources may differ considerably from what retirees actually experience.

Questions about this topic or interested in setting up a time to talk? Contact First Financial’s Investment & Retirement Center by calling 732.312.1534.  You can also email maureen.mcgreevy@lpl.com

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

  1. & 2. SSA.gov, 2025
  2. Investopedia.com, December August 16, 2025
  3. EBRI.org, 2024

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Don’t Get Scammed by Fake Airline Customer Service

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A canceled flight or last-minute schedule change can leave you scrambling for help. Scammers know travelers are stressed and looking for a fast solution, so they have been known to create fake airline customer service numbers that appear in online searches, advertisements and deceptive websites.

The person who answers may sound professional, use the airline’s name and ask for details that seem connected to your reservation. Before you share personal information or make a payment, take a moment to confirm that you have reached the airline through an official channel.

How the Scam Works

The scam often begins when a traveler searches online for an airline’s phone number after a delay, cancellation or booking problem. A fraudulent number may appear near the top of the results, including in a sponsored listing. The traveler calls and reaches someone pretending to represent the airline.

The scammer may ask for your booking confirmation, credit or debit card number, passport details or other personal information. They might claim you need to pay a fee immediately to rebook your flight, protect your seat or receive a refund. Some scammers also direct travelers to a fake website or ask them to download software that gives the scammer remote access to a phone or computer.

Watch for These Warning Signs

  • The representative may pressure you to pay immediately or tells you that your reservation will be lost if you don’t.
  • You are asked to pay by gift card, wire transfer, cryptocurrency or a peer-to-peer payment app.
  • The caller requests your online banking password, PIN or one-time security code.
  • You are told to download an app or remote-access software, so the representative can “help.”
  • The person cannot confirm basic reservation details, but continues asking you for sensitive information.
  • The website address is misspelled, contains extra words or does not match the airline’s official domain.

A legitimate airline may need information to confirm your reservation and may charge a valid fare difference or service fee. The key is to verify that you are communicating with the airline before sharing information or approving a payment.

How to Contact an Airline Safely

Use the Airline’s Official App or Website: Open the airline’s mobile app or type its known website address directly into your browser. Avoid clicking a search advertisement simply because it appears first.

Check Your Travel Documents: Your confirmation email, boarding pass or original booking receipt will typically include verified contact details. Be cautious with messages that arrive unexpectedly and direct you to a new phone number or link.

Ask for Help at the Airport: When you are already at the airport, visit the airline’s customer service desk or ask a uniformed employee where to get assistance.

Be Careful on Social Media: Scammers also create fake airline profiles and contact travelers who post publicly about delays or cancellations. Do not move the conversation to a private message or share reservation details until you verify the account through the airline’s official website.

What to Do if You Shared Information

End the conversation and contact the airline through a verified channel. If you provided financial information or approved a suspicious payment, act quickly.

  1. Contact your financial institution or card issuer and explain what happened.
  2. Lock or turn off the affected card and review recent transactions.
  3. Change compromised passwords from a trusted device and enable multifactor authentication.
  4. Report unauthorized activity and keep copies of related messages, receipts and call details.
  5. Consider a fraud alert or credit freeze if you exposed sensitive information.

First Financial members can use First Financial Wallet to lock eligible First Financial cards, set transaction controls, and dispute transactions.* You can also review our fraud prevention guide and additional identity theft information in our online resources, or visit the Important Alerts & Scams section of our First Scoop blog to stay up to date on the latest scams.

If you notice suspicious activity involving a First Financial account, call 732-312-1500 or visit your local branch. A few minutes spent verifying contact information can help keep a frustrating travel problem from becoming a financial one.

*Data rates may apply. Check with your mobile phone carrier for details. First Financial Wallet is available through the First Financial Mobile App and Online Banking.

Article Sources: Consumer Affairs | Federal Trade Commission 

How to Save on Maintenance and Repairs as a Homeowner

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Owning a home brings many rewarding moments, but it also involves a steady commitment. From regular seasonal maintenance to unexpected repairs, homeowners can benefit from having a thoughtful plan to keep their property in great condition without overburdening their budget.

The great news is that with a bit of planning, you can make home maintenance much easier. When you know what to expect, save a little money regularly, and stay on top of small problems – it becomes much more manageable.

1. Build home maintenance into your budget

A common rule of thumb is to set aside about 1% of your home’s value each year for maintenance and repairs. For example, if your home is valued at $350,000, that means plan to save around $3,500 annually, or about $292 per month.

That number won’t be perfect for every homeowner, but it provides a helpful starting point. Actual costs will depend on your home’s age, size, location, and condition. Older homes may often need more repairs, and coastal or harsh-weather areas may need extra exterior maintenance.

Instead of waiting for something to break, treat home maintenance like any other regular expense. Consider opening a dedicated savings account for home repairs so the money is there when you need it. A First Financial Special Savings Account is designed for exactly this kind of goal-based saving, separate from your everyday spending.*

2. Focus on preventive maintenance first

Preventive maintenance helps you avoid more expensive repairs later. Small tasks such as cleaning gutters, replacing air filters, checking for leaks, and trimming branches away from your roof protect your home’s major systems.

A simple seasonal checklist can help you stay on track:

  • Spring: Check your roof, gutters, siding, windows, outdoor faucets, and air conditioning system.
  • Summer: Inspect decks, patios, landscaping, sprinkler systems, and exterior paint or sealant.
  • Fall: Clean gutters, service your heating system, test smoke detectors, and seal gaps around doors or windows.
  • Winter: Watch for frozen pipes, check insulation, monitor your roof after storms, and keep walkways clear.

You do not have to tackle everything at once. Start with the areas that protect your home from water, weather, and safety issues first.

3. Know which repairs need attention right away

Not every repair is urgent, but some issues should not wait. Water leaks, electrical problems, roof damage, plumbing issues, and heating or cooling failures often become more expensive if ignored.

When deciding what to fix first, ask yourself:

  • Could this create a safety issue?
  • Could this lead to water damage or mold?
  • Could waiting make the repair more expensive?
  • Could this affect the value or livability of my home?

If the answer is yes, prioritize that repair. Cosmetic updates, such as new paint, upgraded fixtures, or decorative landscaping, can usually wait until your budget allows.

4. Get multiple estimates for larger projects

For major repairs or improvements, get more than one estimate before you move forward. Comparing quotes helps you understand the fair price range, evaluate materials and avoid rushing into a costly decision.

When reviewing estimates, consider more than just the total price. Ask what’s included, if permits are needed, the duration of work, and if labor or materials are guaranteed. A lower estimate might not save money if it omits key details.

Check reviews, ask for references and confirm that the contractor is licensed and insured when required. A little research upfront can help you avoid bigger headaches later.

5. Learn which repairs you can handle yourself

Some home maintenance tasks are simple enough for many homeowners to manage on their own. You can often replace air filters, tighten hardware, seal small gaps and change smoke detector batteries without hiring a professional.

However, DIY has limits. Electrical work, major plumbing, roofing, structural repairs, and HVAC issues usually need trained professionals. Attempting to save money on unmanageable repairs can cause safety risks or costlier damage later.

A good approach is to handle simple maintenance yourself and call a professional when the repair involves safety, permits, or specialized equipment.

6. Plan ahead for big ticket replacements

Every home has major systems and appliances that will eventually require replacement, such as your roof, water heater, HVAC system, washer, dryer, refrigerator, and windows – all of which have a limited useful lifespan.

Start with a list of your home’s major systems and their ages, then research replacement costs to estimate upcoming expenses.

If your water heater is near the end of its life or your roof shows wear, start saving now. Planning ahead offers more control and helps you avoid high-interest credit in emergencies.

7. Use financing carefully when savings are not enough

Even with a solid savings plan, some repairs are too large or urgent to cover out of pocket. In those cases, review your financing options carefully before you make a decision.

Review the total borrowing cost, including the monthly payment, interest rate, repayment period, and whether your home secures the loan. Compare these financing options with your savings, emergency fund, and overall household budget.

For planned renovations or larger home projects, a First Financial Home Improvement Loan may be worth considering, with terms up to 10 years and no pre-payment penalties.**

8. Keep an emergency fund for surprise repairs

Your home maintenance fund can cover expected costs, but a separate emergency fund for surprises like a broken furnace, burst pipe, or storm damage, which can occur at the worst moment.

Even a small goal, such as $500 – can make a difference. From there, you can continue to build over time. Setting up automatic transfers can help you stay consistent, even if you start with a modest amount each paycheck.

Take care of your home and your financial peace of mind

Home maintenance isn’t always exciting, but it protects your big investment. Budgeting for repairs and seasonal upkeep helps you make informed decisions, reducing stress and costly surprises.

Start small. Create a maintenance checklist, set up dedicated savings and review upcoming repairs before they become emergencies. A proactive plan helps keep your home safe, comfortable and ready for the years ahead.

*A First Financial membership is available to anyone who lives, works, worships, volunteers or attends school in Monmouth or Ocean Counties.  A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. All personal memberships are part of the Rewards First program and a $5 per month non-participation fee is charged to the base savings account for memberships not meeting the minimum requirements of the program. View full Rewards First program details. Some restrictions apply, contact the Credit Union for more information.

**Available on primary residence only. A First Financial membership is required to obtain a Home Improvement Loan and is open to anyone who lives, works, worships, volunteers, or attends school in Monmouth of Ocean Counties. See credit union for details. Rate will vary based off of applicant’s credit rating. Not all applicants who apply will be approved, subject to underwriting guidelines and credit approval. Lien position and appraisal valuation may affect the maximum loan amount. Not all applicants will qualify for maximum Loan to Value (LTV) ratio. It will be based off of creditworthiness, property type, occupancy, lien position, and loan amount. Rates will be affected by LTV or combined LTV if there is another lien on the property. Loan amounts over $7,500.00 will be required to give First Financial FCU a security interest in their property. Rates will vary based off of lien position and whether the loan is mortgage secured or unsecured. For mortgage secured Home Improvement Loans, First Financial FCU will waive closing costs at inception of loan. If loan is terminated within the first 2 years of opening, closing cost waiver is revoked and are required to be paid back by member to FFFCU.