Author Archives: VP of Marketing and Business Development Jessica

Kickstart Your Child’s Financial Future: Essential Tips for Parents

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There’s no better time than now to start teaching kids about financial responsibility. At First Financial, we are committed to nurturing financial literacy and growth from a young age. Here are some practical tips to help your children develop strong financial habits that will benefit them throughout their lives.

1. Start by Including Them in the Conversation

You may not think to discuss money and finances with your children, but opening up these conversations early can help them grasp the importance of financial literacy and health. Start by teaching them the value of currency by having them earn money through simple tasks. Set savings goals and when they’ve reached a goal, discuss whether to spend the money earned on something they want now or to save it for the future. Pose the discussion around wants and needs and let your kids think through what is more important. This simple practice can instill lasting financial insights and habits. As your children get older, bring new topics into the conversation such as large purchases like cars, bills and expenses, as well as credit card use and debt. The more you discuss with them, the more prepared they will be for the financial realities to come.

2. Open a Savings Account and Encourage Financial Goals

Opening a savings account provides a safe place for your child to store their money, and helps them learn about interest and savings growth from a young age. For a great start, consider our First Step Kids Savings Account designed for Monmouth and Ocean County NJ children up to 18 years old, with no minimum balance requirements or fees and an opening deposit savings match of up to $25.* Once you’ve opened a savings account, set savings goals that can be tied to something your child can look forward to – a new toy, a special outing, or future education costs. Creating a visual savings chart can make this process engaging, and it’s also a good idea to plan monthly check-ins so your kids can watch the money grow in real-time.

3. Teach Budgeting Basics

Introduce the concept of budgeting by helping your child create a simple budget. This could include tracking their allowance, gift money, and any small earnings from chores or part-time jobs. Come up with some small ‘expenses’ so they can understand cash flow, and how to ensure you always have enough money to cover expenses, add to savings accounts, and have some left for miscellaneous spending and emergencies too. As kids reach their teenage years and beyond, our First Financial Student Checking Account for ages 14 to 23 – can facilitate this process with online banking features and electronic statements to make tracking easy.

4. Reward Academic Achievement

Incorporating financial rewards for academic success can motivate children to excel in their studies while learning the value of hard work. Our Dollars for A’s Program rewards Monmouth and Ocean County kids for getting A’s on their report cards, by depositing $1 for each “A” received into their First Step Kids Account.** These rewards keep kids focused on the importance of education and financial growth, while also ensuring their milestones are acknowledged and celebrated.

5. Make Learning Fun

Turn financial education into an engaging activity through contests and challenges. Every summer, our Reader Rewards Summer Reading Contest encourages kids to read books and earn rewards, making learning about finances more enjoyable. From now until the end of August, First Financial kids can earn $1 per book this summer – up to 10 books!+

First Financial is dedicated to fostering financial literacy and independence in young people. Our children and student accounts offer the perfect blend of education, practicality, and fun to help your kids develop strong financial habits. Start their journey to a secure financial future today! For more personalized assistance and tailored solutions call 732.312.1500, visit a branch, or explore our services online.

*Parent or guardian must bring both the child’s birth certificate and social security card when opening a First Step Kids Account at any branch location. Parent or guardian will be a joint owner and must also bring their identification. A First Financial Membership is open to anyone who lives, works, worships or attends school in Monmouth or Ocean Counties. Must open a new First Step account to receive piggy bank, passbook, and to qualify for initial account opening savings match up to $25. The credit union reserves the right to change or cancel this offer at any time. See credit union for details. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account.

**Available for First Financial members between 1st and 12th grades. Child must be present and a deposit to a First Step Kids Account is required to receive the Dollars for A’s incentive. Offer applies only to report cards for most recent school terms. Qualifying report cards must be submitted within 45 days from the date of issue. No back rewards available for prior semesters or marking periods. Letter grade “A” (or school district’s equivalent) or 90%+. Limit of $10 will be rewarded for A’s per each marking period, not to exceed $40 in Dollars for A’s deposited per school year or calendar year.

+First Financial Kids up to age 18 are eligible to participate in our Summer Reading Contest each July and August. Credit Union membership and First Financial Savings Account are required to participate. Participants will earn $1 per book read, up to 10 books. Each book requires a separate entry form to be filled out online using our electronic entry form. Only completely filled out entry forms will be eligible for reader rewards. Participants will earn 1 entry per book read in our prize drawing of three Barnes & Noble® Gift Cards in the amount of $75, $50, and $25. If the parent/guardian prefers – Reader Rewards can be electronically deposited to the child’s First Financial Savings Account when a confirmation email for each book read (up to 10 books), is received and reviewed by the Marketing Department upon completion of a digital entry form. Reader Rewards can also be redeemed in person in any First Financial branch by displaying the confirmation email(s) to a branch employee on a mobile phone or printed out.​ The 3 prize winners will be drawn at random and will be contacted by the First Financial Marketing Department by September 15th.

First Financial Employee Spotlight: Issa Stephan

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Issa Stephan, the President and CEO of First Financial – has been instrumental in our institution’s growth and success for the past 19 years. In this employee spotlight, we are highlighting his incomparable impact. Issa brings a wealth of experience and leadership to his role, as well as a genuine dedication and care for the credit union’s work and the employees. His commitment to integrity, honesty, and respect has shaped First Financial’s culture, fostering a supportive environment for both the staff and members. Under Issa’s guidance, the credit union continues to leverage all resources to provide personalized service and remains dedicated to the financial well-being of the Monmouth and Ocean County community.

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 joined First Financial 19 years ago as the 4th President & CEO. I have been involved with credit unions since 1995. Prior to that, I was in the information technology field. I have a Bachelor of Arts Degree in Information Systems with a minor in Finance.

Can you walk us through one of your most important tasks and explain why it’s significant for our members? I oversee all aspects of the credit union’s operations. My focus is to drive the resources of the credit union toward our short and long-term strategic goals. I am also the main point of communication between the board of directors and credit union operations.

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? I bring integrity, honesty and respect to the credit union culture. These values are crucial to create an environment where the staff can connect with each other and with every member of First Financial in an honest and respectful manner.

How do you personalize your service to meet the diverse needs of our members? We leverage our technologies to understand our members’ needs and provide personal touches to their experience with First Financial.

Can you describe the team you work with and how you collaborate? I have an excellent team at First Financial. My team collaborates and communicates in a positive way to provide all the necessary tools for our staff to deliver superior member service.

What’s the best thing about being part of the team at First Financial? It is the ability to help one member at time – to work toward achieving his/her financial goals.

In your opinion, what sets First Financial apart from other financial institutions? We are local and all of our employees live in our service area. Credit union decisions are made locally since our headquarters is based in Freehold, NJ. We pride ourselves on resolving any issues in a timely and fair manner.

What’s something unique or surprising about you that members or other co-workers might not know? I collect scale diecast model cars. I also enjoy cooking.

What message would you like to share with the members of First Financial? The credit union’s ultimate and most important goal, is to give our members a better future in their financial lives.

If you could give one piece of financial advice to our members, what would it be? Pay yourself first through a savings account supported by an achievable budget.

Issa’s dedication and leadership continue to propel First Financial forward, ensuring it remains a pillar of support for its members and the local community. His strategic vision and clear communication help the credit union provide exceptional service and build a brighter financial future for our members. We are proud to have Issa behind the wheel, guiding and steering us toward continued success and growth. 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.

Things to Do on a Budget in Monmouth & Ocean Counties this July 2024

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It’s time for some fun in the sun! Enjoy the weather and the sights and sounds the summer season brings. Check out these local activities happening this month in a town near you, as well as all the great Independence Day fireworks displays – there are lots available to attend all month long!

July 2:

Howell Township Independence Day Fireworks and Summer Concert Series will begin at 5pm and end at 9:30pm. There will be a free concert, cornhole tournament, rides and activities for kids, food vendors and more, followed by fireworks at dusk. The event will be held at Soldier Memorial Park on Lakewood-Farmingdale Road in Howell Township. Learn more here or call 732-938-4500.

Ocean Township Independence Day Celebration will begin at 6pm and end at 10:30pm at Joe Palaia Park. There will be food trucks, activities, music, and fireworks at dusk. Don’t forget to bring a lawn chair! Learn more at https://www.oceantwp.org/ or call 732-531-5000.

July 3:

Asbury Park Fireworks will take place at 9pm at Second and Fourth Avenue beaches. Rain date is July 5th. Learn more here, or call 732-775-2100.

Colts Neck Fireworks and Independence Day Celebration begins at 6pm at Bucks Mill Park (137 Bucks Mill Road). There will be music, an apple pie contest, food and refreshments, a flag ceremony, sweet treats and more! Fireworks will go off at dusk. There is a requested $10 parking donation. Learn more here.

Freehold Borough Fireworks and Celebration will take place from 5:30pm-9:30pm at the Freehold Raceway (130 Park Avenue). There will be food trucks and a DJ. Bring your own lawn chairs or blankets. Backpacks, coolers and pets will not be permitted at the event. Call 732-462-4200 to learn more, or visit Freehold Borough’s website.

Manasquan Fireworks will kick off at 7:30pm at Main Beach with a concert, followed by fireworks at dusk. Call 732-223-0544 to get more details or click here.

July 4:

Brick Summerfest begins at 7pm with a concert at Windward Beach Park (265 Princeton Avenue). Fireworks will take place after the concert at dusk. A food, beer and wine garden will be available for purchases. Complimentary shuttle buses will also be available. Learn more here or call 732-262-1044.

Long Branch Oceanfest begins at 1pm in Pier Village with musicians, dancers, crafters and sculptures, clowns, food vendors and fun! Fireworks will go off at 9pm. Learn more here, or call 732-222-0400.

Pt. Pleasant Fireworks will take place from 9pm-10pm at Jenkinson’s Boardwalk. Get more information by calling 732-892-0600 or visit jenkinsons.com

Seaside’s Coca-Cola Fireworks Extravaganza will be happening at 9:30pm on the Boardwalk Promenade in Seaside Heights. Don’t miss it! Find out more here or call 732-793-9100.

July 5:

Barnegat Fireworks and Celebration will begin at 5pm at Barnegat High School (180 Bengal Avenue). There will be a DJ, food trucks, facepainting and more! Fireworks to follow at dusk. Rain date is July 12th. Call 609-548-6319 or visit barnegat.net

Bradley Beach Fireworks will be taking place at dusk (8pm-10pm) on the beachfront. Call 732-776-2999 for more details, or visit bradleybeach.gov

July 6:

Belmar Fireworks will begin at 8:30pm with a concert in front of Taylor Pavilion, followed by a fireworks display at 9pm and then a computerized lightshow. Donations are recommended, and go to supporting veterans through Rebuilding Warriors. Call 732-681-3700 to get more information, or click here.

Ocean Grove Independence Parade begins at 10:30am rain or shine, and in the evening at 7:30pm there will be a patriotic concert at the Great Auditorium (21 Pilgrim Pathway). Both events are free to attend, however any offerings given at the concert will be gratefully accepted. Call 732-775-0035 to learn more, or click here.

July 7: Marlboro Fireworks and Summer Concert will begin at 7:30pm at the Marlboro Recreation Center Lawn (1996 Recreation Way). There will be live music, concessions, ice cream, and fireworks at dusk. Bring your own chairs and blankets, free admission. Get more information about this event.

July 9: Red Bank Free Movies in the Park takes place from 8pm-10pm at Riverside Gardens Park on West Front Street by the Navesink River. There will be a free showing of Jurassic Park. Call 732-530-2782 to get more details, or click here. Don’t forget your blankets and chairs!

July 10:

Belmar Free Movie on the Beach begins at 7:30pm with a showing of Encanto. The movie will be shown at 7th Avenue Beach. Bring your own blankets and chairs and enjoy a free movie under the stars and fun for the whole family! Learn more here or call 732-681-3700.

Freehold Free Family Movie Night begins at 8:30pm at the Hall of Records at 1 East Main Street. There will be a showing of Men in Black II. Don’t forget to bring your snacks and lawn chairs and enjoy a fun outdoor night with your family! Get more details here.

The Ocean County Fair (Bayville) begins at 5pm to 11pm and will run through Sunday, July 14th at 5pm at Pinewald-Keswick Road/Route 530 and Mule Road. Admission is $10 per person, and parking is free. There will be plenty of food, rides and entertainment available for the whole family for the duration of the five-day event! Get more details here, or call 732-914-9466.

Sip and Shop (Toms River) will take place at Garden State Distillery at 13 Washington Street from 5pm-9pm. There will be local craft vendors selling jewelry, crystals, candles, apparel, soaps, beauty products, handcrafted gifts, décor and more. Admission is free, must be 21+ to drink at the distillery. The Cruisin’ Downtown Toms River event will also be taking place outside from 6-9pm. Get more information.

July 13: Freehold Township Day will take place from 4pm-11pm at Michael J. Tighe Park (65 Georgia Road). There will be rides for kids, a DJ, live performances, food trucks, local vendors and a gorgeous fireworks display at 9pm. Learn more here, or call 732-294-2199.

July 16: Red Bank Free Movies in the Park takes place from 8pm-10pm at Riverside Gardens Park on West Front Street by the Navesink River. There will be a free showing of Finding Nemo. Call 732-530-2782 to get more details, or click here. Don’t forget your blankets and chairs!

July 17:

Belmar Free Movie on the Beach begins at 7:30pm with a showing of Despicable Me. The movie will be shown at 7th Avenue Beach. Learn more here.

Freehold Free Family Movie Night begins at 8:30pm at the Hall of Records at 1 East Main Street. There will be a showing of Home Alone 2: Lost in New York. Don’t forget to bring your snacks and lawn chairs and enjoy a fun outdoor night with your family! Get more details here.

July 20:

Summer in the Street (Toms River) takes place at 101 Washington Street in Downtown Toms River from 2pm-8pm. There will be vendors, live music, family fun, games for kids, food trucks, and local businesses. Find out more here.

Boots on the Bay (Seaside Park) will take place from 3pm-8pm at J Street and Central Avenue at J Street Marina. Don’t miss this fun country music and food truck festival! There will be live country music, craft vendors, a kids’ zone with a petting zoo and inflatables, food trucks, a beer garden for those 21+ and more. Get more information.

July 23: Red Bank Free Movies in the Park takes place from 8pm-10pm at Riverside Gardens Park on West Front Street by the Navesink River. There will be a free showing of Ferris Bueller’s Day Off. Call 732-530-2782 to get more details, or click here. Don’t forget your blankets and chairs!

July 24:

Belmar Free Movie on the Beach begins at 7:30pm with a showing of Elf. The movie will be shown at 7th Avenue Beach. Learn more here.

Freehold Free Family Movie Night begins at 8:30pm at the Hall of Records at 1 East Main Street. There will be a showing of Harry Potter and the Sorcerer’s Stone. Don’t forget to bring your snacks and lawn chairs and enjoy a fun outdoor night with your family! Get more details here.

The Monmouth County Fair (Freehold) begins at the East Freehold Showgrounds at 1500 Kozloski Road from 4pm-11pm. The fair will last until Sunday, July 28th at 6pm. There will be tons of rides, games, animal races, touch-a-truck, displays and exhibits, food vendors, live music and lots of fun for the whole family. Admission is $10 per person, kids 12 and under are free. Learn more and see the full fair schedule here, or call 732-842-4000 extension 4312 with questions.

July 27 and 28: Italian Festival at Monmouth Park Racetrack (Oceanport) takes place each day from 11am to 5pm. Enjoy mouth-watering Italian favorites from over a dozen of the area’s top restaurants, deli’s, and food trucks. Pair your favorite dish with a sampling of great wines at an Italian wine tasting, for guests ages 21 and up. General admission is $6, parking is free, and if you purchase Italian Festival tickets in advance online you’ll save some money and get them for $13. Purchase in advance today, or call 732-222-5100 for more information.

July 30: Red Bank Free Movies in the Park takes place from 8pm-10pm at Riverside Gardens Park on West Front Street by the Navesink River. There will be a free showing of Godzilla vs. Kong. Call 732-530-2782 to get more details, or click here. Don’t forget your blankets and chairs!

July 31:

Belmar Free Movie on the Beach begins at 7:30pm with a showing of Frozen. The movie will be shown at 7th Avenue Beach. Learn more here.

Freehold Free Family Movie Night begins at 8:30pm at the Hall of Records at 1 East Main Street. There will be a showing of The Lion King 1 & 1/2. Don’t forget to bring your snacks and lawn chairs and enjoy a fun outdoor night with your family! Get more details here.

We hope you have a great July – there’s so much to do in Monmouth & Ocean Counties!

The Importance of Understanding and Building Your Business Credit Profile

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In today’s competitive environment, maintaining a solid business credit profile is crucial for the growth and sustainability of your business. With over 5.5 million new business applications filed nationwide in 2023, the competition for resources and attention has never been more intense. Access to credit can be the deciding factor between business expansion and stagnation. Maintaining a strong business credit score is essential in securing capital and continued growth. Keep reading to find out how to understand and optimize your business credit profile.

What is Business Credit and How is it Used?

Business credit encompasses a company’s financial health and ability to repay debt, distinct from personal credit and linked to the business rather than its owners. Credit reporting agencies collect business credit data and create scores used by various entities.

Many entities including banks, lenders, communication providers, utility companies, and insurance providers – may review your business credit. Maintaining good business credit is important when planning to do business with these entities.

Benefits of Good Business Credit

  1. Access to Capital: Business credit is vital for securing financing. Lenders and investors will assess your business credit profile to determine risk. A strong credit score increases your approval chances and can help you secure better terms and interest rates. Access to capital can be crucial to a business’ success. If you’re a Monmouth or Ocean County NJ small business, check out First Financial’s range of Business Loans that can be tailored to meet your needs for a customized lending solution.
  2. Vendor Relationships: Good business credit can lead to favorable terms with suppliers and vendors, such as extended payment periods, discounts, and improved relationships, demonstrating financial reliability.
  3. Insurance Premiums: Your business credit profile can influence insurance premiums. A good credit score may help you secure lower premiums, reducing overall operational costs.
  4. Business Expansion: Financing is often needed for expansion, whether opening new locations, launching products, or investing in equipment. A positive business credit history facilitates these growth initiatives.
  5. Competitive Advantage: A strong business credit profile can enhance your reputation with vendors, potential partners, and investors – giving you a competitive edge.

Optimizing Your Business Credit

Understanding and optimizing your business credit is a critical step toward achieving financial success and stability. Accessing and comprehending your business credit reports and scores allows you to make informed financial decisions, secure better financing terms, and foster positive relationships with suppliers and vendors. Actively managing your business credit can pave the way for growth opportunities and a stronger market position.

Recommendations for Optimizing Business Credit

  1. Check Your Business Credit Reports: Obtain your business credit reports from major credit bureaus.
  2. Review Your Score for Accuracy: Ensure your scores are accurate and complete, and promptly dispute any inaccuracies.
  3. Monitor Your Score: Regularly monitor your business credit score to track changes, either through subscription services or periodic checks.
  4. Establish Credit Relationships: Open business credit accounts such as the First Financial Visa Business Cash Plus Credit Card and use them responsibly.* Timely payments and responsible credit utilization positively impact your business credit score.
  5. Pay Bills on Time: Ensure you make timely bill payments, including loans, invoices, and credit card balances. Late payments can significantly harm your business credit.
  6. Build a Strong Credit History: Consistently manage your finances, avoid over-leveraging, and demonstrate responsible credit management to build a strong credit history over time.

Understanding and managing your business credit is a strategic move that can shape your business’ future. A strong business credit profile opens doors to financing, vendor relationships, and competitive advantages essential for growth and success. Let First Financial guide you in building and monitoring your credit today, to ensure you’re prepared to grow and maintain your business now and in the future.

To learn more about business banking with First Financial, email business@firstffcu.com, call 732-312-1500, or visit one of our branches.

Disclosures:

*This APR of 18% is for purchases, balance transfers, and cash advances and 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 Fees. Other fees that apply: Balance Transfer and Cash Advance Fees of 3% or $10, whichever is greater; Late Payment Fee of $35, $10 Card Replacement Fee, and Returned Payment Fee of $35. A First Financial membership is required to obtain a Visa® Business Cash Plus Credit Card and 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/loan. Your First Financial Visa® Business Cash Plus Card will earn cash back based on your eligible purchase transactions. The cash back will be applied to your current credit card balance on a quarterly basis and be shown cumulatively on your billing statement. Unless you are participating in a limited time promotional offer, you will earn 1% cash back based on eligible purchases each quarter. uChoose Rewards is a registered trademark of Fiserv Inc. Login to uChoose Rewards through Online Banking, by clicking on your Cash Plus Credit Card account to view current offers.

8 Essential Questions to Ask Yourself Before Moving

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Moving to a new home is an exhilarating journey filled with anticipation and new beginnings. Amidst the excitement, it’s crucial to pause and consider the practicalities to ensure a smooth transition. Here are eight essential questions to ponder before embarking on your relocation journey.

If you plan to buy, what are your financing options?

First Financial mortgage experts are here to help you every step of the way while you begin your homebuying journey in the Monmouth or Ocean County NJ area.* They are available for phone or video calls to answer all of your questions with no commitment required! If you do decide to go with First Financial for your mortgage – we offer a $500 Home Depot gift card upon closing, your appraisal is on us! ($580 value), and we have a 60-day rate lock option with one free float down.**

What are the total moving costs?

Before diving into the moving process, it’s essential to assess the financial implications from all angles. Be sure you are factoring in the cost of movers, storage, packing materials, cleaning services, moving insurance, etc. Each of these can have varying costs, so be sure to research ahead of time and find the best prices. By understanding these costs upfront, you can better plan and budget for your move.

What is the overall cost of living?

Beyond moving expenses, consider the broader financial impact of your relocation. Will your new location entail higher rent or homeowners’ fees? You’ll also need to factor in potential increases in commuting costs, utility bills, and everyday necessities like groceries. The price of something as simple as produce can significantly differ from one state to another, so be sure to research your potential new area. Understanding the overall cost of living, ensures you can comfortably afford your new lifestyle.

How do income and property taxes differ?

Tax rates vary significantly between states, impacting your financial landscape. Researching income and property tax disparities between your current and prospective location is crucial. These insights will help you gauge how taxes may affect your finances and can assist you in making informed decisions about your move.

What is the local job market like?

If your relocation involves finding a new job, you’ll need to assess the local employment landscape closely. Investigate job opportunities, unemployment rates, and median salaries in your desired area. Consider starting your job search before moving to alleviate stress and ensure a smooth transition into the workforce.

What is the immediate impact on income?

Whether securing employment before or after your move, you’ll need to evaluate the financial implications. Compare salary differences and factor in deductions for healthcare, dental, and vision plans. Do you have a 401k with your current job and does your new job offer a retirement plan? If so, don’t forget to ask about transition options for your retirement account to help avoid costly mistakes. If you’re relocating without a job lined up, devise a financial plan to cover expenses during your job search period.

What are the travel costs to visit loved ones?

Consider the logistics and expenses of visiting family and friends post-relocation. Assess whether you’ll be a short drive or a plane ride away, and research typical ticket prices for travel days. Calculate potential gas expenses for road trips and budget for any necessary car maintenance too.

Which belongings should I take?

Moving presents an opportunity to declutter and streamline your possessions. Evaluate what items are essential and consider donating, selling, or storing any unnecessary belongings. This not only reduces moving costs, but also simplifies the transition to your new home.

By addressing these essential questions and tapping into the support of First Financial, you can embark on your relocation journey with confidence and financial preparedness. Happy moving!

For more personalized assistance and tailored solutions call 732.312.1500, visit a branch, or explore our services online.

*APR = Annual Percentage Rate. Subject to credit approval. Credit worthiness determines your APR. Rates quoted assume excellent borrower credit history and are for qualified borrowers. Your actual APR may vary based on your state of residence, approved loan amount, applicable discounts and your credit history. Higher rates may apply depending on terms of loan and credit worthiness. Minimum mortgage loan amount is $100,000. Available on primary residence only. The Interest Rates, Annual Percentage Rate (APR), and fees are based on current market rates, are for informational purposes only. Rates and APRs listed are based on a mortgage loan amount of $250,000. Mortgage insurance may be required depending on loan guidelines. This is not a credit decision or a commitment to lend. If mortgage insurance is required, the mortgage insurance premium could increase the APR and the monthly mortgage payment. See Credit Union for details. A First Financial membership is required to obtain a Mortgage and is open to anyone who lives, works, worships, or attends school in Monmouth or Ocean Counties.

**$500 Home Depot Gift Card will be issued at loan closing on any First Financial mortgage, while supplies last. Applicant to pay $580 appraisal fee up front at the time of appraisal. First Financial will credit the $580 appraisal fee back to the member at loan closing. Rate lock is available for new applications on purchase and refinance loans at a 0.50% fee for a 60 day lock, and is for members who have been preliminarily approved and are in contract to purchase or refinance a property with a closing date within 60 days. You must request the rate lock option at the time of initial mortgage disclosure. The rate lock fee is due at the time of rate lock disclosure signing. You may request a lower rate no more than one (1) time, with a maximum cumulative interest rate reduction of 0.50%. The benefit would allow for one float down for applicants to re-lock their interest rate, should rates decrease during the lock period of 60 days from contract receipt. Members will not incur any additional costs to utilize this benefit. You must monitor rates to decide when to exercise the option to lower the rate. All requests for a lower rate must occur at least seven (7) calendar days before closing. First Financial reserves the right to modify or discontinue products and benefits at any time without notice.

Summer Savings Challenge: Boosting Your Financial Health in 75 Days

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You’ve probably heard of the 75 Hard Fitness Challenge. Now that it’s officially summer – join First Financial in completing the 75 Hard Financial Wellness Edition. In just 75 days, you can substantially increase your savings, cut down on your spending, learn financial wellness tips that will last a lifetime, and create habits that will put your finances in the best shape of your life. Just as the original 75 Hard Fitness Challenge can transform your physical health through daily discipline, our Financial Wellness Edition will transform your financial health with simple and effective daily money habits.

The rules are simple and are done over a period of 75 days:

1. Put any sum of money in a savings account each day.

Building a habit of daily savings, no matter how small – can lead to significant financial growth over time. This practice reinforces the importance of saving and makes it a non-negotiable part of your routine. Easily set up an automatic transfer of any amount from your checking to your savings account every day.

2. Track your spending in a journal or app.

Keeping a daily record of your expenses increases your awareness of spending patterns and helps identify areas where you can cut back. This practice can reveal surprising insights about where your money actually goes. The First Financial Mobile App allows you to view and track your spending 24/7 from anywhere. You can even control transactions by category – gas, restaurants, grocery store, location, and more, to gain a deeper insight into your spending habits.

3. Read 10 pages of any financial wellness book each day.

Investing time in financial education equips you with the knowledge to make better money decisions. By reading 10 pages a day, you can complete several books in 75 days – enhancing your understanding of topics like budgeting, investing, and debt management. Consider starting with classics like “Rich Dad Poor Dad” by Robert Kiyosaki or “The Total Money Makeover” by Dave Ramsey.

4. Do not take on any new debt.

Avoiding new debt during this 75 day challenge, helps you focus on managing and reducing existing debt while living within your means. This rule encourages mindful spending and prioritizes saving over borrowing. For example, instead of financing a new gadget – this is your opportunity to save up and pay for it in cash, avoiding unnecessary interest.

5. Set a daily spending limit.

Establishing a daily spending limit keeps your expenses in check and prevents impulsive purchases. This habit helps you stay within your budget and ensures you have enough funds for essential expenses and savings goals. For instance, if your daily limit is $20 – you’ll be more selective about your purchases and focus on what you truly need.

6. Cook dinner at least 5 days a week.

Cooking at home is often more cost-effective than dining out, and allows for healthier meal choices. By preparing your own meals, you can save a significant amount of money each week. Plan your meals, shop with a list, and meal prep to make this task easier. Preparing a large batch of soup, pasta, or meat and rice bowls can provide dinners for several days – reducing the temptation to order takeout. Plus, purchasing the ingredients in bulk can be more cost-effective too.

Embracing our 75 Hard Financial Wellness Edition can lead to profound improvements in your financial health. By committing to these six simple rules over the next 75 days, you’ll develop positive financial habits that can last a lifetime. We hope you’ll join us on this journey this summer, and we can’t wait to hear about your financial transformations. Get started today!

For more personalized assistance and tailored financial solutions call us at 732.312.1500, visit a branch, or explore our services online.