First Financial Employee Spotlight: Jessica Tortorice

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At First Financial, our dedicated team members are the driving force behind our continued success and unwavering commitment to our members. This month, we are shining the spotlight on Jessica Tortorice, our Vice President of Marketing and Business Development. Jessica has been an integral part of our credit union family for 15 years, starting as a Marketing Coordinator and advancing to her current role with dedication and expertise. Her passion for effective communication and personalized service has helped First Financial grow significantly and brought the credit union closer to the community. Join us as we delve into Jessica’s journey, her contributions, and the role she plays in shaping the future of First Financial.

How long have you worked at First Financial? What was your background/work or education experience in your field before you began working at the credit union? I have been employed by the credit union for 15 years. I started at First Financial as a Marketing Coordinator back in 2008, and at that time I was also going to graduate school to obtain a Master’s Degree in Corporate and Public Communication from Monmouth University. Prior to starting at First Financial, I was a Marketing Coordinator for the Health & Safety Department at the American Red Cross for 4 years. Marketing was my minor at Marist College where I received my Bachelor’s Degree. I have always enjoyed marketing & advertising, and my career path seems to have kept me in the same field.

Can you walk us through one of your most important tasks and explain why it’s significant for our members? My most important task is providing information to our members about our products and services through various communication channels. This includes signage, flyers and brochures within our branches, email communications to our members, social media posts, and digital messaging such as the First Financial website at firstffcu.com. If there is a message which needs to be communicated to our membership, it is my job to make sure that gets done.

What personal values do you bring to your role here at the credit union? How do you see these values reflected in the work of First Financial Federal Credit Union? For me, communication is key when it comes to anything in life – whether it’s at home, work, or in any type of relationship. I try to always ensure the important messages that need to be communicated – whether it’s internally with our employees or externally to our membership, are effectively addressed and made available to those who need them. I see this value reflected in the work of First Financial through the personalized service and communication we provide both internally amongst our staff, as well as to our members. Our employees know our membership and we pride ourselves on being able to give them personalized service and attention that’s tailored to their needs.

How do you personalize your service to meet the diverse needs of our members? My job requires me to be able to communicate to our members across various mediums – whether it’s getting the message across within a branch via advertising collateral and signs, through direct mail, email messaging, social media posts, writing educational blog articles, newsletter publications, or through our website. It’s my job to make sure there are multiple ways to reach and educate our current members and potential future members.

Can you describe the team you work with and how you collaborate? The First Financial Marketing and Business Development Departments began working together as one, over 5 years ago. We recognized at the time that we had the same focus on the importance of communicating with the membership, helping to reach and acquire new members, and get the credit union message out to the local community – as well as provide everyone we could with financial education. This mission is still continued in the work we do together with our community partners throughout Monmouth & Ocean Counties – bringing the credit union message, offerings, and financial education to local school, healthcare, and municipal employees in our area.

In your opinion, what sets First Financial apart from other financial institutions? At First Financial, you’re not just a number. Our frontline staff especially, knows our membership and often greets them by their first name upon walking through our doors. The First Financial Family goes beyond the relationships we have between co-workers, it extends to our members too. If you have a question about something – whether it’s internally between staff or as a member calling in or stopping by a branch, you’re going to actually speak to someone who can help you.

What’s something unique or surprising about you that members or other co-workers might not know? I am an avid photographer, and I also love to bake.

What message would you like to share with the members of First Financial? The credit union is truly here for our members – whether it’s helping you save money on your monthly car payments by refinancing your higher rate auto loan from the dealership, to finding a loan payment and term that fits your budget, or planning for your retirement years – we are here to be your financial partner through it all.

If you could give one piece of financial advice to our members, what would it be? Always save for a rainy day by paying yourself first – you never know when that financial emergency may pop up. Having a bit of a cushion in a savings account can help ease the burden of financial stress, or racking up debt on a credit card that you’ll have to pay off down the line (with interest). It’s easy to allocate even a small amount from each paycheck to go right into an emergency savings fund through your direct deposit. You won’t even miss it!

Jessica’s vision to ensure every member feels informed, valued, and supported in their financial journey epitomizes the core values that define our Leadership Team at First Financial. We invite you to learn more about First Financial and with the guidance of dedicated employees like Jessica, we continue to provide exceptional service and support to our members. Visit our website to discover the First Financial difference.

Want to join the team at First Financial? Check out our careers webpage and apply online for current employment opportunities.

How to Plan a Budget-Friendly Honeymoon

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Are you dreaming of a romantic getaway but worried about the cost? Planning a honeymoon on a budget doesn’t mean sacrificing the magic. With some savvy strategies, you can have the trip of a lifetime without breaking the bank. Let’s explore 12 tips to help make your dream honeymoon a reality without emptying your pockets.

1. Set a Realistic Budget: Outline your essentials and prioritize experiences that matter most to you and your spouse. With a clear budget in mind, you can make informed decisions and allocate funds accordingly to ensure a memorable honeymoon without financial stress.

If the money isn’t readily available, financing can be an option for some couples. Some things in life are non-negotiables – especially things you’ve been dreaming of for as long as you can remember. At First Financial, we know the money just isn’t always there. With our Financial Helper Loan, you can borrow up to $25,000 to help with the costs of your dream honeymoon at a competitive rate.*

2. Embrace Low Season: Off-peak travel not only offers savings, but also provides a chance to immerse yourself in the destination without the crowds. Take advantage of quieter beaches, shorter lines at attractions, more intimate atmospheres, and lower rates during your honeymoon.

3. Quality Over Quantity: A shorter honeymoon doesn’t mean compromising on luxury or adventure. By focusing on quality experiences over an extended timeframe, you can savor each moment of luxury and exhilaration without losing the charm, all while staying within your budget.

4. Discover Affordable Destinations: Explore hidden gems and emerging destinations where your budget goes a little further. These lesser-known locales often offer unique cultural experiences, stunning landscapes, and authentic cuisine without the premium price tag of more popular destinations.

5. Plan and Book Early: Early booking not only secures the best deals, but also allows for greater flexibility and peace of mind. By planning ahead – you can take advantage of promotional offers, secure preferred accommodations, and tailor your itinerary to fit your budget and preferences.

6. Mix-Up Accommodations: Strike a balance between budget-friendly stays and occasional splurges to create a diverse and memorable honeymoon experience. Consider opting for luxury accommodations for shorter stays or unique locations, while saving on one-night stays to stretch your budget further.

7. Consider Group Tours: Small group tours offer the perfect blend of convenience, affordability, and adventure. With expert guides leading the way, you can explore off-the-beaten-path destinations, participate in unique activities, and forge lasting connections with fellow travelers — all while staying within your budget.

8. Research Dining Options: Planning your dining experiences in advance ensures you enjoy delicious meals without breaking the bank. Look for local eateries favored by residents, explore street food for authentic flavors, and consider cooking your own meals using fresh ingredients from markets or grocery stores to save money while still indulging in culinary delights.

9. Consult a Travel Agent: A knowledgeable travel agent can help you navigate the complexities of honeymoon planning while maximizing your budget. From securing exclusive deals and upgrades to providing insider tips and personalized recommendations, their expertise can turn your honeymoon dreams into a seamless and budget-friendly reality.

10. Create a Honeymoon Registry: Customize your honeymoon registry to include specific experiences or aspects of your trip that guests can contribute to. Whether it’s a romantic dinner, a couples’ massage, or a once-in-a-lifetime excursion – allowing loved ones to support your honeymoon fund ensures meaningful gifts that enhance your overall experience.

11. Opt for a Delayed Honeymoon: Postponing your honeymoon allows for additional time to recover from wedding festivities and save money for your dream trip. By choosing a later departure date, you can take advantage of off-peak travel discounts, seasonal promotions, and special offers to stretch your budget further.

12. Utilize Points and Loyalty Programs: By strategically leveraging loyalty programs and cash back rewards – you can enjoy upgrades, discounts, and exclusive perks that enhance your honeymoon experience without increasing your overall budget. The First Financial Cash Plus Credit Card offers customized rewards that can be used on travel experiences and more – with 1% unlimited cash back everywhere.** You can use our credit card for some wedding purchases you were planning on anyway, make your payments on time, and enjoy the fruitful rewards!

As you embark on the journey of planning your dream honeymoon, remember that financial constraints don’t have to dim the sparkle of your romantic getaway. By following these savvy tips, you can craft a budget-friendly honeymoon filled with unforgettable experiences and cherished memories. For more personalized assistance and tailored solutions – call 732.312.1500, visit a branch, or explore our services online.

*APR = Annual Percentage Rate. Rates are subject to change. Maximum loan is $25K and maximum term is 60 months. Not all applicants qualify, subject to credit approval. A First Financial membership is required to obtain a Personal Loan, and is open 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/loan. See credit union for details.

**APR varies up to 18% for purchases, when you open your account based on your credit worthiness. The APR is 18% APR for balance transfers and cash advances. APRs will vary with the market based on the Prime Rate. Subject to credit approval. Rates quoted assume excellent borrower credit history. Your actual APR may vary based on your state of residence, approved loan amount, applicable discounts and your credit history. No Annual Fee. Other fees that apply: Cash advance fee of $10 or 3% of the total cash advance amount—whichever is greater (no maximum), Balance transfer fee of $10 or 3% of the balance—whichever is greater (no maximum), Late Payment Fee of $29, $10 Card Replacement Fee, and Returned Payment Fee of $29. A First Financial membership is required to obtain a Visa® Credit Card and is available to anyone who lives, works, worships, or attends school in Monmouth or Ocean Counties.

Financial Traps to Avoid

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There’s a reason why even athletes, entertainers, and business people with seven-figure (and higher) incomes suddenly find themselves filing for bankruptcy. Money mismanagement can eat through even the biggest bankrolls. Here are some specific threats to financial stability that people can avoid to help effectively manage their wealth.

No Budget

A survey by Debt.com revealed that 90.24% of respondents believed everyone should have a budget (though only 85.6% of the respondents said they used one). Half of the survey respondents said they’re living paycheck to paycheck, which may help explain why they consider budgeting to be so important. Budgeting does not have to mean skipping coffee and driving a jalopy for the rest of your life. It does mean paying close attention to how much money comes in and where it all goes. Use your financial goals to guide you in steering your money in the right direction.

Too Much Debt

If you have a lot of debt to pay off, a budget is even more important. It helps reduce the likelihood of relying on more credit to fill the gaps. A budget also helps you to collect all those extra dollars and cents that you could put toward paying more than the bare minimum on debt. When paying off debt, start with the higher-interest accounts first and work your way through to save money.

No Protection

Insurance can be expensive, but going without insurance can be even more so. Renters, homeowners, auto, health, disability, and life insurance policies are the main ones you should consider. If you have a business — especially if it is your main or only source of income — getting business insurance can protect your livelihood in the event of a mishap with a client or customer.

No Retirement Planning

A survey by Clever estimated that nearly 30% of Americans have nothing saved for retirement. The survey also revealed that retirees who have saved have, on average, only $191,659 saved for retirement, which is far less than the $514,800 recommended by experts. Because of this, Americans continue to hold stressful, low-paying jobs well into their retirement years. It is never too early to start planning for retirement, no matter how small your contributions are. Remember to take advantage of matched contributions from employers whenever possible.

Too Much Risk

There is no investment that is 100% without risk. If there were, the returns on that investment would be negligible. Even so, taking on too much risk at the wrong time can lead to big financial problems. Taking on high levels of risk is appropriate for young people who have more time to recover and is not advised for people nearing retirement.

Shady Investments

Even worse is when risky investments turn out to be fraudulent or shady. In fact, the more risk-free an investment sounds, the more you should do some digging. This holds true whether the business or individual you plan to invest in is a stranger or your brother. People who miscalculate or fail to do enough research can cause you just as much financial damage as fraudsters.

Poor Tax Management

No matter how much or how little money you make, tax management is a great way to help keep money in your pockets. This is especially important after a large windfall, such as an inheritance. For instance, if you inherit an Individual Retirement Account (IRA) and choose to cash out, you may lose a portion of this in taxes. Divorce is another time of life when tax management is key.

Mismanaged Assets

Stocks are often traded frequently, making them active investments, but you still need to ensure your portfolio stays balanced. Similarly, if you have a home, keeping up with repairs and improvements maintains and grows its value. Unmanaged assets also pose a problem, such as when people allow large sums of money to sit in accounts with low to no interest rates and high fees.

For some people, money management is a talent and financial literacy is almost an inborn skill. Many other people, however, could use a little help making financial decisions.  Contact First Financial’s Investment & Retirement Center by calling 732.312.1534 to speak with professionals who can help steer your finances in the right direction.  You can also email mary.laferriere@lpl.com or 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:

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal.

This material was prepared by LPL Financial, LLC

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Mapping Your Financial Future: The Power of Creating a Financial Bucket List

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In the journey toward financial security, having a roadmap can make all the difference. You likely wouldn’t embark on a road trip without a destination and a GPS or directions. Similarly, achieving your financial dreams requires a clear plan. That’s where a financial bucket list comes in.

A financial bucket list outlines your monetary goals, from paying off debt and saving for retirement, to traveling the world. A financial bucket list should focus on practical, achievable milestones that you can track and celebrate along the way.

How to Create an Effective Financial Bucket List in Five Simple Steps:

1. Envision Your Ideal Life: Take a moment to picture your ideal life, both now and in retirement. What does financial freedom look like to you? Whether it’s living modestly or traveling the world, having a clear vision will help guide your goals.

2. Assess Your Current Finances: Evaluate your current financial situation. Are you on track to achieve your dream life? If not, what adjustments are needed to steer you in the right direction? Whether it’s saving more each month or paying off debt, identify areas for improvement. First Financial’s Savings Accounts and Savings Certificates can help you get one step closer to reaching your goals by allowing you to save money according to your timeline.*

3. Set Achievable Goals: Break down your financial aspirations into bite-sized goals. Whether it’s paying off a credit card or saving a specific amount each month, setting achievable targets will make your journey more manageable.

4. Monitor Your Progress: Regularly review your financial bucket list to track your progress. Are you staying on course? Have any changes in the economy impacted your goals? By assessing your progress, you can make necessary adjustments and stay on track. First Financial’s Online Banking makes it easy to keep track of your finances with 24/7 access, as well as the Trends tab which once logged in – gives you a comprehensive overview of your finances, categorizes your expenses, allows you to set a budget, and monitors your financial goal progress.

5. Establish New Goals: As you accomplish items on your list, set new goals to continue your financial growth. Work toward paying off another debt or increasing your savings even more. Setting new targets will keep you motivated and moving forward.

With a financial bucket list as your guide, you can turn your dreams into achievable milestones and pave the way toward long-term financial satisfaction. So why wait? Start crafting your financial roadmap today and embark on the journey toward financial security and peace of mind.

At First Financial, our members are like family to us and we take pride in helping you achieve your financial goals. For more personalized financial assistance call 732.312.1500 or visit a branch today. Don’t miss out on more financial tips and advice – be sure to subscribe to our First Scoop blog.

*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. A penalty may be imposed for IRA and Certificate withdrawals before maturity. See your Important Account Information for Our Members document for details. The Annual Percentage Yield is based on the assumption that dividends will remain in the account until maturity and the minimum balance is maintained.

Spring 2024 Newsletter

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We hope you are enjoying a very happy spring season!

In a continued effort to go green, we’re publishing our quarterly member newsletter electronically – it can also be found on our website and social media sites. Paper copies will be available in our branches.

The Spring First Edition Member Newsletter features the following articles:

To view a copy of the newsletter, click here.

Wishing all of our members a great rest of spring!

A Budget-Friendly Guide to Home Redecorating

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Home renovations and redecorating can transform your space without breaking the bank. With strategic planning and creative solutions, you can achieve your home improvement goals while staying within budget. Keep reading to find out how!

Research and Planning

  1. Find the Right Financing: Before diving into your home renovation project, explore financing options to fund your endeavor. Consider First Financial’s Home Improvement Loan, offering great rates and flexible terms to help you realize your vision affordably.*
  2. Create a Budget: Set a realistic budget for your project, considering expenses like materials, labor, and any unforeseen costs. Stick to your budget to avoid overspending and financial strain. Utilize First Financial’s wide range of tools and resources like our Budgeting Guide and Home Budget Calculator.
  3. Develop a Detailed Plan: Outline the project scope and create a timeline for completion. Research design ideas and gather inspiration to ensure a successful outcome.
  4. Research Codes and Acquire Permits: Obtain necessary permits and familiarize yourself with local building codes to ensure compliance and avoid costly mistakes.
  5. Do Your Own Demo: Save on labor costs by tackling demolition work yourself, prioritizing safety with proper gear and precautions.
  6. Price Matching: Compare prices on multiple retailer websites prior to making a purchase. Many big box stores will price match what you find online in store, so you can snag a great deal and avoid shipping and handling costs.

Doing It Yourself (DIY)

If you plan to tackle your home renovation project all on your own, follow our budget-conscious tips below.

  1. Search for Free Materials: Acquire items for free through friends, family, or online listings to minimize costs and maximize savings.
  2. Find Duplicates: Look for budget-friendly alternatives that mimic high-end materials or furnishings to achieve your desired look without overspending.
  3. Improve Existing Furniture: Refresh old furniture with painting or refinishing. Add new hardware or upholstery for a custom look without breaking the bank.
  4. Update Smaller Fixtures: Upgrade fixtures like cabinet hardware, lighting, and doorknobs to make a big impact on a budget. Changes like these make a huge difference without necessitating a full demo.
  5. Shop Second Hand: Explore thrift stores, flea markets, and online marketplaces for unique finds at bargain prices. You may discover hidden gems that not many other people will have.
  6. Utilize Paint: Give your space a makeover with a fresh coat of paint and easily DIY this on your own. Sometimes a fresh new color is all you need to transform a space.
  7. Declutter: Clear out unnecessary items to refresh a room instantly. Donate or sell items you no longer need to create a clean, inviting space.
  8. Mix and Match: Embrace mismatched furniture and decor to add character to your space and avoid the expense of purchasing pricier pieces. Experiment with different styles, textures, and colors for a unique look.
  9. Swap Party: Host a furniture and decor swap party with friends and family to exchange items and refresh your decor for free. It’s a fun way to acquire new pieces while also decluttering your home.
  10. Do Projects in Pieces: Tackle renovation projects one at a time to manage costs effectively and plan better. Break down projects to secure better deals and complete them efficiently.

By following these tips and leveraging resources like First Financial’s Home Improvement Loan and budgeting tools, you can redecorate your home for less without sacrificing style or quality. Happy decorating!

For more personalized advice and solutions – call us at 732.312.1500, visit a branch, or explore our services on our website at firstffcu.com. Don’t forget to subscribe to our First Scoop blog for more financially savvy insights and tips.

*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. 1 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. 2 Lien position and appraisal valuation may affect the maximum loan amount. 3 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. 4 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. 5 For mortgage secured Home Improvement loans First Financial FCU (FFFCU) 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.