7 Ways to Make Your Business Stand Out During the Holiday Season

Posted on by
Reply

The holiday season brings both excitement and competition for businesses, with many eager to capture customers’ attention and increase sales. Standing out can be challenging, but with a little creativity – you can make your business shine during this festive time. Here are seven effective ways to make your holiday marketing memorable and impactful.

1. Share Your Holiday Traditions

Build a stronger connection with your customers by sharing glimpses of your holiday preparations. Behind-the-scenes photos or videos of your team decorating, preparing holiday orders, or celebrating the season can create a warm, relatable connection. When customers feel like part of your holiday traditions, they’re more likely to stay loyal long after the season ends.

2. Reward Loyal Customers

Consider special offers to show appreciation for your loyal customers. Simple incentives like a free item with a minimum purchase or offering free shipping, can make customers feel valued. Hosting a holiday-themed contest or sweepstakes on social media is another fun way to engage your audience and boost excitement around your brand, attracting new and returning customers.

3. Give Back to Your Community

Show your brand’s heart by supporting a local cause or volunteering as a team this holiday season. Instead of just making a monetary donation, consider actively participating in a holiday event or hosting a community drive. This helps those in need while strengthening your brand’s image and demonstrating a commitment to positive community impact.

4. Personalize Your Promotions

During the holiday rush, personalized marketing can make all the difference. Tailor your messages, ads, and promotions to match the needs of specific customer groups. For example, segment your email list by past purchases or preferences and offer relevant recommendations. Personalization shows customers you care about their unique needs and helps your brand stand out in a sea of generic holiday offers.

5. Promote a Donation Match

Instead of the usual holiday discounts, consider setting up a donation-matching campaign for a cause that resonates with your audience. Matching a portion of customer purchases to a charitable donation supports a good cause, while also strengthening brand loyalty. This approach can inspire purchases from customers who value giving back and appreciate brands with a purpose.

6. Offer a Gift Guide

Help your customers find the perfect gifts by creating a holiday gift guide featuring your products and services. A well-curated guide simplifies the shopping experience and highlights your best offerings, making your business an easy solution to consumer needs. If you sell different types of products, create guides for various interests or recipients such as husband, wife, best friend, sibling, etc. Take inspiration from Etsy where there are gift guides for countless occasions, interests, and personas. This thoughtful touch can attract customers looking for tailored gift solutions, making your brand a convenient go-to this season.

7. Craft a Story Around Your Brand

Holiday shoppers connect with stories, so use this time to share meaningful stories that highlight your brand’s values and mission. Whether it’s the inspiration behind a product or a story about how your brand brings people together, storytelling creates an emotional connection with customers. A genuine story can differentiate your business and make a lasting impact.

With these creative strategies, your business can stand out during the holiday season and build stronger customer relationships and connections. At First Financial, we’re here to support your business every step of the way. For more insights, be sure to subscribe to our First Scoop blog for ongoing financial advice and business tips.

Yes – People are Still Falling Victim to eBay Scams

Posted on by
Reply

In a day and age where consumers report at least $10 billion of fraud related losses per year, it is more important now than ever to equip yourself with the tools to detect potential fraud before it happens to you. The FTC revealed that not only did consumers report a 14% increase in fraud related losses, but that online shopping issues were the second most reported category of fraud in 2023. With that in mind, an online shopping and auction platform such as eBay is no stranger to the prevalence of fraud occurring in their online space. Even though it may not be as popular as it once was, surprisingly individuals are still falling victim to eBay scams. If you weren’t aware, eBay is an online marketplace that brings buyers and sellers together to conduct online transactions. With 132 million active buyers worldwide – shopping 2.1 billion seller listings, it comes as no shock that scammers find eBay a lucrative environment to find victims. Look out for these common eBay scams, as well as red flags that can alert you to potential scams, to protect yourself and your wallet if you buy or sell on the platform.

Common eBay Scams

While this is not an all-inclusive list of scams you can expect to see on eBay, these are some of the most common to watch out for.

  • You Send Payment and the Seller Takes Your Money: This one is exactly what it sounds like; you pay for an item on eBay, and never receive the item from the seller. eBay has a Money Back Guarantee program in the case of an unresponsive seller shipping you the incorrect item, or no item at all. However, there are certain eligibility requirements that must be met to take advantage of this guarantee. For example, you must have used approved payment methods and paid via eBay checkout in the transaction, must have attempted to contact the seller, and must have given three business days for the seller to resolve the issue. Additionally, certain items are not eligible for the Money Back Guarantee, which can be found
  • The Seller Ships with an Incorrect Name: This scam involves the fraudster preying on your “good Samaritan” mentality. In this scenario, the seller would ship the package to the correct address, but intentionally use the wrong name to make you believe you received the incorrect package. The fraudster is hoping you return the package to the post office or shipping company, as this voids eBay’s Money back Guarantee since it is considered a refused or returned package. The fraudster gets to keep your payment, and you can’t leave feedback – since it would be considered resolved.
  • Misleading/Counterfeit Listings: A misleading listing is one that entices you to believe you are receiving one thing, but you end up receiving something else – or maybe even nothing at all. The problem with misleading listings is that oftentimes the seller does include the details somewhere in the listing, but it might not be clear to buyers. A counterfeit listing is one that includes a counterfeit item that is advertised as being the real deal. Making purchases online has its downside, such as being unable to verify the authenticity of goods prior to purchase. These “knock-offs” are usually advertised at very attractive prices, so it is good practice to be wary of items that are heavily marked down when they have a much higher market value.
  • Overpayment Scams: We’ve written about overpayment scams in the past, and they’re prevalent on eBay too. In this situation you’re selling an item, and a buyer contacts you and offers you more than you are asking for the item and only if you would take a personal check. In turn, you’re only getting a giant headache in the form of a phony check that will never clear. In addition, you’ve already shipped the buyer your item which they’ll of course keep, and you’ll most likely be responsible for the bounced check or incurred fees from your bank besides.

Red Flags to Look Out For

Unfortunately, the tactics scammers employ to defraud unsuspecting people is constantly evolving. However, keeping some of these red flags top of mind – can help you detect a scam before it happens to you.

  • Short Duration Listings: eBay says to be wary of items that have only been listed for one day. While eBay says there are exceptions to this, such as tickets for an event happening that same day, fraudsters know their luck will run out the longer their item is listed for. The short duration of these listings is often paired with the fraudster expressing a sense of urgency to close the deal.
  • Heavily Discounted/Sold-Out Items: The saying, “If it seems too good to be true, it probably is,” applies on eBay, too. Be cautious of listings showing heavily discounted items, such a luxury handbag, or a popular item that has been sold out, such as the latest gaming console.
  • Sellers Wanting to Conduct Business Off eBay: Whether it’s attempting to personally contact you or enticing you to make a payment off eBay’s online platform, fraudsters know off-eBay communications get them closer to their ill-gotten gains. eBay notes that once communication is taken off their platform, your purchase will not be protected by the Money Back Guarantee. It is always a best practice to utilize eBay messages to communicate with sellers, and use approved payment methods during eBay checkout to complete your transaction.
  • Unsafe Payment Methods: eBay has been in the game a long time, making them an expert in knowing which payment methods are safe. eBay says to take caution with sellers who request payment into overseas accounts, prepaid or gift cards, or cryptocurrency – because oftentimes these transactions cannot be traced. It is always a best practice to go by the list of payment methods offered at eBay checkout. Unsafe payment methods also include personal checks or person-to-person digital payments (Venmo, Zelle, Cash app).

While this list of red flags is a good start in learning to recognize fraud, go with your gut too. Just because something isn’t online or on this list, doesn’t mean it’s not a scam. The more you educate yourself on the actions and tactics of scammers, the more you will be able to tell when something just isn’t right.

What to Do if You Believe You Fell Victim to an eBay Scam

eBay is aware of the scammers infiltrating their platform and has procedures in place to assist customers that believe they have been defrauded.

eBay has a Security Center that is dedicated to providing customers with tips and resources for protecting their information, staying safe from scammers, reporting concerns, and even reporting fraud or stolen goods to law enforcement. There is a great deal of information dedicated to staying safe from scammers, including tips on how to recognize fake emails, web pages, and scams, as well as procedures buyers and sellers should follow in conducting transactions. If you’re looking for a quick way to report a fraudulent seller directly to eBay, click here.

At First Financial, we’re always thinking first about how to best protect the personal and financial information of our valued members. If you ever come across anything suspicious on any of your First Financial accounts, or want assistance in determining if an offer, website, or service is legitimate – give us a buzz. Don’t hesitate to contact our member services department at 732-312-1500 or visit one of our local branches.

Retiring Debt When You Retire

Posted on by
Reply

Many Americans rely on credit cards for their everyday purchases. After all, it’s so easy and tempting – that new pair of shoes looks great, and while they’re expensive, you can pay them off over time, you think, barely giving things a second thought as you tap your smartphone or swipe your card for payment.

But these spontaneous purchases come at a cost – interest that accumulates if you fail to pay your charge card bill in full each month. That debt is bad enough at any age, but when you’re facing retirement and need to live on a fixed income, it can be a brutal financial strain.

While you may not be willing to part with your credit card as you reach your Golden Years, there are a few key considerations for using it when relying on a fixed monthly income.

1. Recognize that not all credit cards are alike. When trying to decide whether to sign up for a card, think about your intended use. While it may offer an attractive rewards program, if you’re not paying off the balance each month, you could pay far more in interest than any rewards would provide. Additionally, these cards typically come with large annual fees and even higher interest rates. Think twice before agreeing to that new card and instead look for a card with a lower interest rate.*

2. Building up a good credit score can help you get a lower interest rate on a credit card. To improve your rating, make sure that you pay your bills on time and minimize your debt. It’s a catch 22 – if you could pay your bills on time each month, you wouldn’t necessarily need a credit card.

3. Try your best to reduce your debt each month. While doing away with all credit cards may be impractical, reducing your debt will help keep your finances in order and your fixed income more predictable.

If you need help reducing your debt, talk to a financial professional who could help you develop a plan that works for your habits and lifestyle.

Call or email the financial professionals in the First Financial Investment & Retirement Center at 732-312-1534, 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

Tracking #1-05363571

*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.

How to Protect Yourself After a Data Breach

Posted on by
Reply

In our digital world, data breaches are an unfortunate reality – affecting millions each year. These incidents expose sensitive information and can lead to financial fraud and identity theft. If you’ve been notified of a data breach or suspect your information may have been compromised, follow these crucial steps to safeguard your financial security.

1. Save Notifications & Respond Promptly

If a company or service provider informs you that your data may have been compromised, be sure to keep that notification. Breached companies are legally required to inform affected users and often provide next steps to secure your information, or contact information for credit bureaus and departments that can offer more guidance. This information can also serve as a record if you need to document or report future issues.

Immediately change your login information and passwords connected to the affected account(s) and remove any banking or credit card information that may be stored within the account(s). If the breach affects accounts tied to financial information, immediately begin securing your bank accounts and monitoring for suspicious activity.

2. Strengthen Account Security

Start by updating passwords on any accounts tied to the breached organization. For strong security, each account should have a unique password with a mix of letters, numbers, and symbols. If possible, use a password manager to store these securely and reduce the risk of previously used or weak passwords.

For added security, enable multi-factor authentication (MFA) on all accounts. This extra step, such as a verification code sent to your phone, makes it harder for unauthorized users to access your information, even if they have your password.

3. Set Up Fraud Alerts

Adding a fraud alert to your credit report signals to creditors that you may be a victim of fraud, prompting them to take extra steps to verify your identity when a new credit request appears. Contact any one of the three major credit bureaus — Experian, TransUnion, or Equifax, or create an online account to set up free fraud alerts. This alert will automatically apply to all three bureaus and remain active for a year, giving you added protection against fraudulent activity.

4. Monitor Your Financial Activity and Credit Reports

Carefully monitor your financial statements, bank accounts, and credit card activities for unusual transactions. Many financial institutions, including First Financial – offer free transaction alerts available through our mobile app, allowing you to catch unauthorized activity early.

Additionally, check your credit report regularly. You’re entitled to a free credit report each year from each bureau at AnnualCreditReport.com. Frequent reviews of your report can help detect unauthorized loans, new accounts, loan applications, or address changes that could indicate identity theft.

5. Consider a Credit Freeze

For those seeking a stronger defense, a credit freeze restricts access to your credit report, making it harder for new accounts to be opened in your name. You can apply a freeze by calling or creating online accounts with each of the 3 credit bureaus at no cost, and lift it temporarily if you need to apply for credit yourself. A freeze doesn’t affect your existing credit cards or loans, but it’s an effective barrier against unauthorized new accounts.

6. Be Aware of Phishing and Scams

Data breaches often lead to an increase in phishing attempts where criminals pose as reputable institutions to trick you into sharing more information. Beware of emails, calls, or texts from unfamiliar contacts or even those posing as your financial institution. Anyone who asks you for sensitive information or points to an unidentified link should be treated with extreme caution. Indicators of phishing include urgent requests, generic greetings, and suspicious sender addresses. When in doubt, reach out to the company or your bank directly using a verified contact method rather than interacting with suspicious messages.

7. Stay Vigilant and Consider Identity Protection Services

If you want an additional layer of protection, some individuals choose identity theft protection services such as Norton LifeLock ID Navigator – which is an included benefit for users of our VISA Signature Cash Plus Credit Card. These services monitor credit activity, provide alerts, and may even offer insurance to cover certain identity theft related losses.

Secure Your Finances with First Financial

Taking immediate action after a data breach can reduce the chances of financial harm and identity theft. At First Financial, we’re committed to helping you protect your financial future with resources and support to keep your information safe. For more personalized financial guidance, call us at 732.312.1500 or visit a branch. And don’t forget to subscribe to our First Scoop blog for more helpful tips on managing your finances and staying safe online.

How to Maximize Savings as Interest Rates Decrease

Posted on by
Reply

The Federal Reserve announced a federal funds rate cut of half a percentage point at its September meeting, the first time it has lowered rates since the start of the pandemic in March 2020. There is also another Federal Reserve meeting scheduled to take place this week. Here are some key strategies to help you navigate a fluctuating interest rate environment and make the most of your hard-earned savings.

1. Consider High-Yield Savings Accounts

As interest rates fall, traditional savings accounts may offer minimal returns. However, many banks and credit unions offer high-yield savings accounts. These accounts generally provide better interest rates due to lower overhead costs, making them a smart option for those looking to grow their savings more efficiently.

To maximize your returns, compare rates regularly. Even a small increase in your savings account’s interest rate can make a noticeable difference, especially over time. First Financial’s Savings Accounts offer quarterly dividends.*

2. CDs are Another Option for Savings

If you’re concerned about declining interest rates, certificates of deposit (CDs) can offer a more stable option. By locking in a fixed rate, you ensure your savings will continue to grow regardless of future rate cuts. When your CD matures, you can decide whether to reinvest at a potentially better rate or keep the funds available for other financial needs. First Financial’s Savings Certificates offer terms ranging from 6 to 72 months.**

3. Focus On Your Emergency Fund

In any interest rate environment, your emergency fund is critical. Experts typically recommend keeping 3 to 6 months’ worth of living expenses in easily accessible savings. With rates dropping, now might be a good time to reassess that fund.

You should never move your emergency savings into riskier investments, but it’s smart to ensure that it’s earning the best rate possible. High-yield savings accounts or short-term CDs may offer the liquidity you need, while providing a modest return. Keep in mind that the goal of an emergency fund is security, not high returns – so focus on accessibility first.

4. Stay Informed and Be Flexible

Interest rates can fluctuate based on economic conditions, so stay informed and be flexible. Review your financial plan regularly and be willing to adjust your savings strategy as needed. What works in a high-interest environment likely won’t be effective when rates decline and vice versa, so be prepared to shift tactics if necessary. However, you shouldn’t continually make drastic changes just to keep pace with the market either. Consult with a financial professional and take time to conduct research.

You can also subscribe to financial newsletters or consult with a financial advisor to stay updated on changes in the rate environment and how they may impact your savings. By staying proactive, you can ensure your money is always working as hard as possible, regardless of the current economic conditions.

Make Your Savings Work Harder with First Financial

Navigating a changing interest rate environment can feel challenging, but with the right strategies, you can continue to grow your savings. For personalized financial guidance, call us at 732.312.1500 or visit a branch today. Don’t forget to subscribe to the First Scoop blog for more tips and insights on managing your finances.

*A $5 deposit in a base savings account is required for credit union membership prior to opening any other account. All personal memberships are part of the Rewards First program and a $5 per month non-participation fee is charged to the base savings account for memberships not meeting the minimum requirements of the program. View full Rewards First program details at firstffcu.com. Some restrictions apply, contact the Credit Union for more information. If balance falls below $5, a monthly service fee of $5 will be imposed.

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