Author Archives: VP of Marketing and Business Development Jessica

First Financial Employee Spotlight: Samantha Colella

Posted on by
Reply

At First Financial, our employees are a crucial part of our business. Some of our employees go out into the Monmouth and Ocean County community to interact with and learn about the heart of First Financial—our members and businesses that we serve. Today, we have a new addition to the team that will be a friendly face around the community—Samantha Colella, our new Business Development Representative.

From a young age, Samantha was interested in the lasting impression she could make on a financial institution and the surrounding community they serve. That interest took her to Lehigh University, where she obtained a Bachelor’s Degree in Business & Economics. Prior to joining First Financial, Samantha had client-facing roles at both a start-up and a large retail bank, equipping her with the perspective required to identify the needs of the communities served. Now back home in New Jersey, her passion brought her to First Financial, where she will be working to increase First Financial’s reach in Monmouth and Ocean Counties and support our community partners and businesses, and the people that make those organizations run.

Samantha’s role will focus on marketing and community outreach through business development. On the marketing side, she will support our VP of Marketing in engaging and connecting with members of the community through various channels. On the community outreach side, she will focus on supporting our existing community partnerships and forging new relationships for the credit union. You might run into her at your local branch, at a local vendor fair, or even at your favorite local business.

Samantha is excited to join the First Financial Family, and support members and businesses in their financial well-being. Stay tuned to First Scoop, and you’ll get to read some of her upcoming blog posts!

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

Money Saving Tips You Can Actually Follow This Fall

Posted on by
Reply

As the crisp fall air rolls in and the days grow shorter, it’s the perfect time to refocus on your finances and find new ways to save. Fall brings a natural opportunity to cut back on certain expenses, prepare for the holidays, and reset after the summer. Here are six money-saving tips to help you make the most of your autumn without overspending.

1. Turn Off Your Heat and Air Conditioning

Fall offers a sweet spot in terms of weather — usually neither too hot nor too cold. Take advantage of this mild season by reducing your heating and cooling expenses. Turn off the air conditioning and enjoy cool nights by opening your windows. When temperatures start to dip, seal up any drafty windows and doors to avoid heat escaping from your home. Instead of cranking up the heat, bundle up in cozy sweaters and blankets. Small changes to your energy habits can lead to noticeable savings on your utility bills.

2. Pick Up a Fall Side Gig or Craft

With the holidays approaching, fall is the ideal time to dive into a creative side gig. People are often looking for unique, handmade items and autumn crafts. Fun items like custom-painted ornaments, knitted scarves, or homemade baked goods are in high demand this time of year. If you enjoy cooking, baking, or crafting – consider turning your hobby into extra income. Not only will you make some extra cash, but you might also discover a seasonal passion that carries over into the winter months. You never know, what starts as a fun side project could become a booming business!

3. Get Crafty with Your Fall Decor

Instead of buying expensive seasonal decorations from retail stores, consider DIY alternatives. Craft stores and dollar stores offer plenty of inexpensive items that can be transformed into beautiful fall decorations. Create centerpieces with candles, pine cones and gourds, or make a fall wreath with supplies from the dollar store. This approach is not only budget-friendly, but also gives you a chance to get creative. Plus, DIY decorating can be a fun family activity, helping you save on both home decor and entertainment as the cooler weather sets in.

4. Start a School Carpool

If you’re spending too much time (and gas money) in the drop-off lane at your child’s school, consider organizing a carpool. Teaming up with other friends and neighbors to share driving responsibilities can save you money on fuel and free up time in your day. Even a small change from five pick-ups and drop-offs per week to just three – can make a difference in your gas spending.

5. Review Your Subscriptions

Fall is a great time to re-assess the subscriptions you signed up for during the summer months. As life gets busier with school, work, and holiday preparations – some of these services may no longer be necessary as your time is more limited. Look through your bank statements and cancel any subscriptions that you’re not using — whether it’s a streaming service, gaming or book membership, or an automatic refill subscription for a product you no longer need. These recurring fees can quickly add up, and canceling unnecessary subscriptions can help you trim your budget.

6. Make Meals in Bulk

As the weather cools, it’s time to bring out your slow cooker or crockpot. Cooking large batches of meals like soups, stews, chili, or casseroles not only saves time, but can also be a major money-saver. Preparing meals in bulk allows you to buy ingredients in larger quantities (which is often cheaper) and avoids the temptation of ordering takeout on busy evenings. Freeze the leftovers to stretch your grocery budget further and enjoy quick, hearty meals throughout the week without extra cooking time.

Make the Most of Your Fall Finances

First Financial is here to ensure your finances are in good standing this fall. For more personalized financial advice or assistance with budgeting, call 732.312.1500 or visit a branch today to learn more about how we can help support you in your financial goals. Be sure to subscribe to the First Scoop blog for additional money-saving tips and financial insights throughout the year.

Protect Yourself Against Tech Support Scams

Posted on by
Reply

As digital threats evolve, tech support scams are becoming more prevalent, targeting unsuspecting individuals with fake offers of help for non-existent computer problems. These scams can lead to identity theft and great financial loss if not properly identified and avoided. At First Financial, we’re committed to helping you stay informed and protected from these common fraud tactics.

What Is a Tech Support Scam?

A tech support scam typically begins with an unsolicited call, email, or pop-up alert on your computer from someone claiming to be a representative from a well-known company such as Microsoft, Apple, or even your internet provider. The scammer tells the victim a virus or malware has compromised their computer and urgently needs to be fixed. The goal is to convince you to grant them remote access to your device, pay for unnecessary services, or share your financial information.

How Do Tech Support Scams Work?

Tech support scams rely on creating a sense of urgency and fear to trick you into believing that your computer or personal data is at immediate risk. They may claim that your device has been hacked, that your personal data is vulnerable, or that your system is infected with dangerous malware. The scammer then offers to “help” you fix the issue — sometimes for a fee. In reality, there is no problem – they intend to either steal your personal information or convince you to pay for fraudulent services.

How to Spot and Avoid Tech Support Scammers

  • Unsolicited Contact: Scammers often initiate contact via phone calls, emails, or pop-up windows, falsely claiming to be from reputable tech companies. If you didn’t initiate contact, be cautious — this is a major red flag.
  • Urgent or Scary Language: Scammers create a sense of urgency, telling you that your device is at risk of being compromised or that your personal data is in danger. The goal is to pressure you into quick action without giving you time to think.
  • Requests for Remote Access: If a supposed “tech support” person asks for remote access to your computer, this is a key sign of fraud. Giving someone remote access opens the door to your personal data and files, putting you at great risk.
  • Demand for Payment: Legitimate companies will never ask you to pay for services upfront or demand immediate payments through unconventional methods like gift cards, Bitcoin, or wire transfers.
  • Verification Codes: Scammers might ask for a verification code sent to your phone or email. These codes are designed to protect your accounts, and no legitimate tech company will ask for them. Never share them with anyone.
  • Unverified Claims: Always be skeptical of unsolicited claims about your computer or account being compromised. A reputable company will never demand immediate action or payment without a legitimate service request from you.

How to Protect Yourself from Tech Support Scams

1. Never Move Your Money to “Protect Your Account”

Scammers may claim your bank account is at risk and urge you to transfer money to a “safe” account. This is a scam. No legitimate company will ever ask you to move funds for security reasons.

2. Do Not Share Verification Codes

Verification codes are meant to keep your accounts safe. Scammers may ask for these codes to gain unauthorized access. Never share them with anyone, and if asked – it’s a sure sign of fraud.

3. Be Wary of Suspicious Calls or Emails

If you receive unexpected communication about an issue with your computer or a suspicious transaction, pause and verify. Scammers use these tactics to pressure you into giving up sensitive information. Contact the company directly using their official contact details.

4. Take Your Time

Scammers thrive on creating urgency. If someone is pressuring you to act quickly, it’s likely a scam. Always take a moment to verify the legitimacy of the situation by reaching out to the company or speaking to a trusted representative.

5. Avoid Payment Requests via Gift Cards or Bitcoin

If you’re asked to pay for tech support services using gift cards, cryptocurrency, or wire transfers, it’s a scam. Legitimate businesses will never demand payment through untraceable means.

Protect Your Finances

At First Financial, we take your financial security seriously. If you ever suspect you’ve been targeted by a scammer or feel unsure about a suspicious interaction, call 732.312.1500 or visit a branch for guidance. We’re here to help you keep your finances safe. For more helpful tips and resources, visit our website or subscribe to the First Scoop blog for ongoing updates on keeping your finances safe from scammers.

Considerations When Purchasing Life Insurance

Posted on by
Reply

Discussing life insurance can be a sensitive topic — after all, talking about death is never comfortable. But life insurance is an important financial product, especially if you support others or have substantial assets that you wish to transfer to future generations.

Choosing a life insurance plan is anything but straightforward, though. There are many types of insurance and features for you to consider. Here’s a quick overview of the most popular types.

The most popular type is term insurance, which often is the least expensive. These policies are written for a specific period of time — one to 30 years, for instance. You can renew them once the term expires, but the price may increase. If you wish to lock in the premium, you’ll select what’s called a level term policy.

A declining balance term insurance policy is used to protect your mortgage principal, and its benefits are paid only if you die during the policy’s term, which aligns with your mortgage amortization. Once you pay off your mortgage, the policy expires and has no value – unless you choose to renew it.

Whole life features permanent protection with a savings element. You can lock in a premium rate, and part of the premium accrues a cash value. As the savings amount increases, you can even borrow up to 90% of the policy’s cash value tax-free.

Next is universal life, which is like whole life but potentially accrues higher savings. You can change the premium amount and withdraw cash, and even possibly change the face value of the policy. These can offer a guaranteed return on cash value, too.

A variable life policy generally features a fixed premium and a flexible cash value policy. In fact, you can invest the cash in a variety of investment types. However, keep in mind that the cash value and death benefit can fluctuate, based on the performance of your investments.

Finally, universal variable life is considered an “aggressive” policy. While similar to variable life, there is no guarantee beyond the original face value death benefit. As such, they are more common with wealthy buyers who can withstand the risks.

For questions about navigating the many complexities of life insurance, including recommended coverage amounts, consult your financial professional. You can also email the financial professionals in the First Financial Investment & Retirement Center at 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:

The cost and availability of Life Insurance depend on many factors such as age, health and amount of insurance purchased. In addition to premiums, there are contract limitations, fees, exclusions, reductions of benefits, and charges associated with policy. And if a policy is surrendered prematurely, there may be surrender charges and income tax implications.

Variable Universal Life Insurance/Variable Life Insurance policies are subject to substantial fees and charges.

Both loans and withdrawals from a permanent life insurance policy may be subject to penalties and fees and, along with any accrued loan interest, will reduce the policy’s account value and death benefit. Withdrawals are taxed only to the extent that they exceed the policy owner’s cost basis in the policy and usually loans are free from current Federal taxation. A policy loan could result in tax consequences if the policy lapses or is surrendered while a loan is outstanding.

Policy values will fluctuate and are subject to market risk and to possible loss of principal.

Any life insurance guarantees are contingent upon the claims-paying ability of the issuing company.

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

Tracking #1-05363544

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

Posted on by
Reply

As we begin to fall out of summer, let’s find some free and inexpensive activities to explore this September. Grab your friends and family, and soak up the last bits of local summer!

September 11

Bell Works Fresh Farmers & Makers Market (Holmdel) will feature fresh produce and unique creations. Happening every Wednesday of September from 11am-4pm, this is a great place to explore handcrafted goods, and support the local community. Learn more here.

Fall Concert Series (Freehold) at the Hall of Records every Wednesday in September from 7:30pm-9:30pm. Bring the family out to enjoy an evening of live music, and discover both new and widely known local talent. Check out the schedule and voices here.

September 13

Bonfires on the Beach (Asbury Park) will take place from 7pm-10pm every Friday night during September, weather permitting. The 9/13 bonfire will be at First Avenue Beach. Check the schedule online for other dates and locations through the end of September.

Italian Festival (Englishtown) join the Italian American Association of Monmouth County at their Italian Festival from 6pm-10pm. Taking place all weekend long through September 15th, this festival features rides for the whole family to enjoy, games, food, live entertainment, and more. Admission to the festival and parking are free. For more information and a full schedule, click here.

September 14

A Tribute to All Things Broadway (Lincroft) takes place from 2pm-3:30 pm & 7pm-8:30pm. Bring the family for a day of appreciating Broadway without having to leave New Jersey! Featuring songs, scenes, and dances performed by local talent from hit Broadway musicals, there will be something for everyone to enjoy. Tickets cost $15/adult, $10/senior, and $5/child (ages 12 and below). Additional information can be found here.

Neptune Day – Celebrate the town of Neptune at the Neptune Middle School Parking Lot from 12pm-5pm. There will be inflatables, carnival games, pony rides, a petting zoo, and more. Admission is free. For more information, click here.

Sip and Shop Local Craft Vendor Fair (Toms River) – Join the Garden State Distillery in celebrating and showcasing local talent from 12pm-4pm. While admission is free, local craft vendors will be selling a variety of items. For ages 21+, you may also order craft beer from the distillery to enjoy while you shop. Find out more details here.

Wind & Sea Festival (Port Monmouth) will take place from 11am-5pm at Bayshore Waterfront Park, weather and conditions permitting. Visitors will celebrate all things water by enjoying a variety of family-friendly coastal activities including kayaking, fishing, sandcastle building, children’s crafts, and more. For additional information, check here.

September 20

Climb Time (Seven Presidents Oceanfront Park in Long Branch) – If you are looking for an adventurous family-friendly activity, head over to Seven Presidents Oceanfront Park for climb time. Open to ages 8+ (those under age 18 must be accompanied by an adult) and 42” or taller, you can try the 25’ portable climbing wall for free. Check it out on the Monmouth County calendar.

September 21

Allaire State Park Fall Harvest Festival (Wall) – If you are looking for a chance to get in the fall spirit, look no further than the Fall Harvest Festival, taking place from 11am-4pm both Saturday and Sunday, 9/22 at the Allaire Historic Village. Stop by to enjoy live music, live demonstrations, craft vendors, an apple pie baking contest, apple cider pressing, and more. Tickets are $10/adult and $5/child (ages 4-12, 3 and under are free). More information can be found here.

Howell Day & Green Fair – Join the Township of Howell from 3pm-8pm at Soldier Memorial Park for this fun for the whole family event. There will be an array of children’s activities, free inflatable and mechanical rides, live entertainment, vendors, and more. It will also feature fireworks at dusk. Get additional information here.

Kids Day America (Wall Township) is from 10am-2pm in the Court Yard at the Wall Municipal Building. This is the 21st annual event dedicated to children’s health, safety, prevention, and environmental awareness. Come down for free information on children’s health and safety, free screenings, free goodies, and free interactive events. This event is free for all ages. For more information, click here.

Latino Festival of Monmouth County (Freehold) Grab your family and join the community in a day of immersion in Latino culture at the Latino Festival of Monmouth County. Taking place from 12-7pm at the Hall of Records Parking Lot, this family-oriented event celebrates the diversity of Latin America through special attractions, music, cultural offerings, and cuisine. Find more details here.

Red Bank Oktoberfest – Come down to the 2nd annual Oktoberfest from 1pm-5pm at Edmund Wilson Plaza. There are a variety of activities to enjoy, Monmouth County breweries, distilleries, and wineries to meet, and sampling packages to purchase for tasters 21+. Admission is free for all ages. Learn more information here.

September 28

Fall Bazaar (Asbury Park) – Taking place at Convention Hall from 12pm-5pm Saturday and Sunday, 9/29, stop by to get in the fall-spirit with shopping from local makers, kid’s activities, fall photo opportunities, and more. The event is indoors, admission is free for everyone, and it’s pet friendly. Learn more here.

September 29

Jersey Shore Comic Book Show (Sea Bright) Sea-Con is back at the Sea Bright Recreation Center from 10am-4pm. From special guests and interactive activities for kids to artists and vendors, there is something for all comic book, collectibles, and pop culture lovers to enjoy. Get more details here.

SPUR Family Barn Dance (Lincroft) from 1pm-5pm at the Thompson Park Activity Barn, come learn to line dance with the family while benefiting Special People United to Ride (SPUR). To enjoy the live line dancing lessons, tickets will be $10/adult and $5/child. Find more information here.

We hope you, your friends, and your family participate in these fun ways to enjoy September!

7 Questions to Ask Yourself Before Spending Your Emergency Fund

Posted on by
Reply

An emergency fund is essentially a financial safety net, designed to ‘catch you’ in an emergency by helping you navigate unexpected challenges without going into debt. However, deciding when to tap into these savings is a crucial decision that requires many considerations. Before you dip into your emergency fund, evaluate the situation carefully to ensure spending that money is essential. Here are seven questions to ask yourself before spending your emergency fund, to help you make the right decision.

1. Is This Expense Truly a Necessity?

The first question to ask yourself is whether the expense you’re facing is truly essential. Your emergency fund is meant to cover critical needs, such as keeping a roof over your head, ensuring you have food on the table, or covering medical emergencies. If the expense isn’t vital to your survival or well-being, it may be wise to reconsider using your emergency fund. This might mean postponing non-essential expenses like entertainment or luxury items until your financial situation is more stable.

2. Are There Other Resources Available to Help?

Before using your emergency fund, check if there are any external resources available to help cover the expense. In times of financial crisis – many organizations, banks, and utility companies offer assistance programs such as deferred payments, waived fees, or discounted services. Additionally, food pantries and community services can provide essential support in times of need, reducing the need to use your savings. By leveraging these resources, you can stretch your emergency fund further and preserve it for truly critical situations.

3. Do I Have Other Cash Reserves?

Consider whether you have other cash reserves that can be used before tapping into your emergency fund. This could include money saved for non-essential purposes, like a vacation or new car fund, or extra cash in your checking account. Utilizing these funds before turning to your emergency savings can help you avoid depleting your emergency fund unnecessarily. However, be cautious about pulling money from long-term investments like retirement accounts, as this may have significant consequences in the future.

4. Can I Find a More Affordable Solution?

Another important consideration is whether there’s a less expensive way to handle the situation. Your emergency fund is a finite resource, so it’s important to stretch it as far as possible. Look for cost-effective alternatives, such as buying generic products instead of name brands, reducing utility usage to lower bills, or finding discounts on necessary items. Frugality and resourcefulness can minimize the amount you need to withdraw from your emergency savings.

5. Do I Have Other Ways to Generate Cash?

Before withdrawing from your emergency fund, consider whether there are alternative ways to generate the cash you need. For example, taking on a temporary side gig or selling unused items around your home may provide the extra income you need to cover an unexpected expense. This approach can help you preserve your emergency fund for more dire situations. Remember, your emergency savings should be a last resort, so explore all other options before making a withdrawal.

6. Will I Need This Money for Something More Urgent Later?

When considering whether to use your emergency fund, think about potential future expenses that could arise. If your job is unstable or you have an older car that might require costly repairs, you may need your emergency fund for these situations. While it’s impossible to fully predict future expenses, it’s important to weigh the current need against possible future emergencies. If you anticipate larger, more pressing expenses down the road, it might be better to hold off on using your emergency fund now.

7. How Much Will Remain in My Emergency Fund After This Expense?

Finally, consider how much of your emergency fund will be left after covering the current expense. It’s crucial to maintain a sufficient balance to handle future emergencies. If withdrawing for this expense would significantly deplete your savings, leaving you vulnerable to future crises, you may need to think twice about using the funds. Financial experts generally recommend keeping three to six months of living expenses in your emergency fund, so consider whether your balance will still meet this guideline after making a withdrawal.

Protect Your Financial Future

Your emergency fund is a vital tool for financial security, but it’s important to use it wisely. By asking yourself these seven questions, you can make informed decisions about when and how to use your savings, ensuring that your emergency fund remains intact for when you truly need it. For more personalized financial advice and tips on managing your finances, contact us at 732.312.1500, visit a branch, or explore our services online.