Author Archives: VP of Marketing and Business Development Jessica

Making Sense of Medicare

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Medicare is confusing, with a ton of rules and dates, inclusions, exclusions, and exceptions. But for those who are 65 years of age or who meet certain qualifying conditions, it’s essential to understand its key parts to maximize their benefits and features.

Let’s start with how it’s structured. Medicare includes four parts: A, B, C, and D.

Parts A and B are called Original Medicare. Part A covers hospital stays and Part B covers doctor visits.

In a bit more detail, Part A pays for hospital stays and follow-up costs associated with those stays. It also covers various outpatient medical services, such as home healthcare and physical therapy.

Part B pays for doctor visits and other medical care administered on an outpatient basis. It may also include the costs of medical equipment/devices and tests.

Original Medicare doesn’t pay all of your medical costs. If you elect Original Medicare — that’s Parts A and B — you should still expect to pay out-of-pocket costs, including copayments and deductibles. Additionally, prescription drugs, vision care, dental care, and hearing services are not covered by Original Medicare, so you may want to consider other options for covering those services.

For instance, you can purchase Medicare supplement insurance and a standalone Medicare Part D plan that helps pay for prescription drugs. Otherwise, you can purchase a Medicare Advantage Part C plan.

Part C, called Medicare Advantage, is an option offered by private insurance companies. It generally provides all of the coverage in Original Medicare and adds — usually — Part D prescription drug coverage, along with dental, vision, and hearing services. While Part C covers many items not addressed in Original Medicare, it may restrict your choice of medical providers and treatment options.

Part D is standalone prescription drug insurance. Most Part D plans require that you pay a premium, and you must sign up for coverage at age 65 or else be subject to penalties if you sign up for it later.

While Original Medicare is the same across the U.S., Parts C and D plans vary according to state, region, and county. Make sure you understand what’s available where you reside to maximize your coverage and benefits. Coverage, costs, deductibles, premiums, copays, and coinsurance vary by plan, so it’s important that you confirm these prior to selecting a plan.

Keep in mind that your choices aren’t permanent. As your healthcare needs change, you can change your plan, too, at least once each year during Open Enrollment from October 15 to December 7.

For more information, speak with a financial professional or visit the Medicare website, at Medicare.gov

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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It’s Time for a Mid-Year Financial Check In

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Can you believe it’s June already? The official start of summer will be here before you know it. Being that it’s now mid-year, this is a significant time to re-evaluate your financial goals from January. Think about what is working and what you may need to change up for the second half of the year. Keep reading to get some ideas on how to complete your mid-year financial review.

Organize Your Financial Records

If your financial records are a mess or you don’t know where to find important documents, now’s the time to get organized. Make sure you have original documentation for wills, deeds and any paperwork for inherited assets. Other records of importance? Be sure you are maintaining files on tax returns, retirement plan and investment statements, mortgage records, insurance policies, bills, important receipts, financial account statements, pay stubs, benefits information and any estate planning documents. You can either choose to maintain records of these documents in paper form or electronically on your computer or tablet – just ensure you have some record of this list or know how to access them quickly if needed.

Check Your Credit Score

Your credit score is a good indicator of your financial well-being. Double check your credit score at least annually to look out for any red flags, like missed payments or possible identity theft. Also checking your monthly account statements or regularly logging into online banking or your financial institution’s mobile app, can help you spot any fraudulent account activity right away.

Feed Your Emergency Fund

Credit cards are not substitutes for having cash on hand. It’s important to regularly add to your emergency fund, which should only be accessed for unexpected emergencies – like home or auto repairs. A good way to add to your emergency fund? Allocate your direct deposit. Even if you start with taking $20 out of each paycheck and having it deposited right into your emergency savings account every payday – this can really add up over time and most likely, you won’t even miss it. If you’re not sure how to set this up, ask your Human Resources or company payroll department for assistance.

Put Up Digital Walls

Cyber crimes are increasing in number by the day. It’s time to make sure you’ve updated your online passwords, that you’re using encryption or two-factor authentication to login to websites whenever possible, and that you aren’t sharing sensitive data or doing your banking over public Wi-Fi networks.

Re-Evaluate Your Financial Goals

Do your financial goals still make sense for the rest of the year? A lot can happen in 6 months, and you may have had some scenarios that warrant a second look. Have there been any other major financial changes this year? Think family, income, asset, debt or business related events. If there have already been or you know there will be changes to any of these items before the end of the year – reach out to a financial professional today.

At First Financial, our members are like family and we are here to help you achieve your financial goals. For more personalized financial assistance call 732.312.1500 or visit your local branch today. Don’t miss out on more financial tips and advice – be sure to subscribe to our monthly e-newsletter.

P2P Team Donation Scams

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There’s a new person-to-person (P2P) payment scam out there. It involves young adults going door to door, looking to “fundraise” for a sports team or extracurricular organization. But be leery, this is a scam designed to steal your money! How does it work? We’ll show you exactly how this scam plays out and how you can prevent it from happening to you.

How the Scam Works

  • A group of young adults rings your doorbell or comes up to you in person while you’re out, and tells you they are trying to raise funds for their sports team to buy new uniforms (or for a similar activity).
  • There is a clear spokesperson in the group whose job is to distract you, by explaining a lengthy story on what the “donations” will be used for and how much they would help the team. While you’re listening to the bogus story, another member of the group says not to worry – you can easily donate through Venmo or Zelle, and they’ll quickly put their contact information in your phone for you so that you can do a quick transfer once they leave.
  • While you are distracted with the story and how easy the scammers make the donation options sound, it’s not hard to fall for this scam and hand over your phone without thinking it through – to the individual who asked for it. However, you should never give your unlocked phone to anyone you do not know! This is how the scam unfortunately takes place.
  • Once the scammer has your unlocked phone, they can easily click on your Venmo or Zelle app – and transfer your money over to themselves in seconds. You probably wouldn’t even realize it’s happening as one member of the group continues to talk to you and distract you, while you think the one who has your phone is simply entering their contact information for you to make a transfer later.
  • The worst part of a P2P payment scam, is that you typically can’t get your transferred funds back.

You can prevent this or other similar P2P payment scams from happening to you by only sending money to those you know and trust, treating Zelle and Venmo like cash, refraining from giving anyone you don’t know your unlocked cell phone, and if you think something is too good to be true or it feels off – it probably is.

At First Financial, our goal is to help protect our members from scams and identity theft. If you have any concerns or questions about any of your First Financial accounts, please call member services at 732.312.1500 or visit one of our branches.

To learn more about scams and ways to protect yourself, visit zellepay.com/pay-it-safe.

Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

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.

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

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Summer is here and it’s prime time for outdoor activities at the Jersey Shore! Be sure to check out these upcoming dates for some free or inexpensive events happening nearby this month.

June 6:

Broadwalk Fresh (Red Bank) kicks off at 5pm on Broad Street in Downtown Red Bank for the summer season until 9pm (every Thursday night until the end of September). This event features a vibrant pedestrian only marketplace with gourmet treats, artisan goods, live entertainment and activities for kids too. Find out more and see other upcoming dates here.

Sunset Canoe Paddle begins with session #1 at 6:30pm at Marlu Lake (Lincroft). Experience adventure and look and listen for wildlife as you paddle under the stars on Thursdays over a 3 week period. Pre-registration and a $60 per person fee is required. The fee includes 3 sunset canoe sessions at different locations in Monmouth County. 6/13 will be at Deal Lake and 6/20 in Middletown. Please also bring a flashlight or head lamp. Learn more and register here.

June 7: Asburyfest begins on Friday night at 5pm and ends on Sunday 6/9 at 6pm at 101 5th Avenue, across from Convention Hall in Asbury Park. Start with some of the best festival food around, add a dash of music, and a pinch of surprises and you have an annual three-day culinary event you don’t want to miss. Admission is $5 per person, kids ages 6 and under are free. Find out more here.

June 8:

Aberdeen Food Truck & Music Festival begins at 11am and runs through 7pm at Veterans Memorial Park at Ocean Blvd. and Lakeshore Drive in Keyport. There will be 18 unique food trucks, craft vendors, an adult beverage garden for those 21 and up, live bands and activities for kids. Get more information on Facebook.

Bradley Beach Dinner and a Movie in Riley Park on Main Street begins at 7pm if you are participating in the boxed picnic dinner ($25) and an outdoor showing of Wonka begins at 8:30pm (free). Rain date is 6/9, and be sure to bring your own chairs or blankets. Learn more and register here.

June 9: Pour into Summer Wine Festival (Lakewood) takes place from noon to 5pm at Shoretown Ballpark, 2 Stadium Way. There will be over 100 wines to sample and purchase from the top vineyards across New Jersey for ages 21+, alongside food trucks, live bands, vendors and artisan crafters. Bring a lawn chair or blanket if you want to stay the day. Advance ticket purchase online is $20 per person for ages 21 and up, and $25 each at the gate. Spectators and under age 21 get free admission. Learn more and buy tickets online here.

June 14: Summer Social at Historic Longstreet Farm (Holmdel) from 6:30pm-8pm. What could be better than starting summer with freshly made ice cream and traditional yard games? Learn about ice cream’s history and significance as you help churn a fresh batch to enjoy. After enjoying this summer treat, have fun engaging in some popular yard games and activities. Cost to attend is $10 per person, ages 3-14 must be accompanied by a paying adult, and kids 2 and under are free. Register to attend here.

June 15:

Atlantic Highlands Classic Car Show runs from 10am – 4pm on First Avenue. There will be over 100 classic vehicles present, family fun, vendors and music. Be sure to also check out the great shops and restaurants in town too! Rain date will be 6/22. Learn more here or call 347-528-5372.

Spring Lake Irish Festival will begin at noon and go until 5pm on Washington Avenue. Enjoy a day of everything Irish – music, dancing, food, shopping, and more! Rain date is 6/22. Find out more here, or call 732-449-0577.

June 16:

Father’s Day at Jenkinson’s (Pt. Pleasant) begins at 12pm with free admission for all Dads (with a paying child) at the Amusement Park, Aquarium, Adventure Lookout Ropes Course, Castaway Cove Mini Golf and Lighthouse Point Mini Golf and the Fun House. Learn more, or call 732-892-0600.

Father’s Day Dogs for Dads at 4JG’s Vineyard (Colts Neck) will take place from noon to 5pm at 127 Hillsdale Road. Spend a relaxing Father’s Day at the vineyard – where hotdogs will be grilled, there will be live music and delicious wine for those 21 and older. Admission is $20 per person. Treat your Dad to a nice day out! Learn more here, or call 908-930-8066.

June 21: The Blueberry Festival begins at Argos Farm (Lacey) from 8am-5pm and will run through July 7th. Pick your own blueberries, and enjoy live music, photo ops and fun! Advance ticket purchases online are $14.95 per person (ages 2 and up) and at the gate they are $19.95 each. Buy your tickets today!

June 22: NJ Pizza Festival at Monmouth Park (Oceanport) takes place from noon to 6pm. The festival offers not only delicious food, but also live entertainment including music, horse racing, and activities for the whole family to enjoy. Whether you’re a dedicated pizza aficionado or simply enjoy good food, the NJ Pizza Festival offers something for everyone to enjoy. $15 per person entry fee (kids 12 and under are free), rain date is 6/23. Pizza vendors will be selling $2 slices, and there will be additional menu items available for purchase. Admission tickets must be purchased online in advance. For more information and ticket sales, go to https://njpizzafestival.com/

June 26: Family Outdoor Movie Night (Freehold) begins at 8:30pm with a showing of Back to the Future II, located at 1 East Main Street (Hall of Records) in Freehold Borough. This event is free to attend – don’t forget your lawn chairs and snacks! Get more information here.

June 29: Family Fun Fest (Keansburg) begins at noon and runs until 9pm at the Keansburg Baywalk. Setup your beach spot for the day and kick off summer with this annual family event, featuring live music, food trucks and fun. Find out more on Facebook.

We hope you have a great June, Happy Father’s Day to all the Dads, and congrats to all the Grads!

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.