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Chris Petro

Chris Petro
President/CEO
Reach Credit Union
650/361-7719

YOU KNOW we're here to do all we can to help you with your finances. Besides state-of-the-art banking…we hope to present you with ideas, advice, financial news and "should-do" solutions. A "blog" is a perfect way to do just that.

So here's ours!
We’ll post frequently, hoping you’ll check in regularly. We want your thoughts, questions, observations, too. Just eMail. We will ask your permission before ever publishing anything that is personal to you.

News & Notes

10 Tips for Mobile Safety

4/25/2014

A guest post by our VP of Information Systems Steven Miller:  At Reach CU, the safety of your data, and your identity, is always on our minds.  Here are 10 tips on mobile safety, courtesy of Identity Theft 911 (IDT911.COM): Use strong passwords that have numbers, uppercase and lowercase letters, and symbols.   Create different user IDs and passwords for all financial accounts. Never use a Social Security number or other sensitive information as a user ID, PIN, or password. It can be used to gain access to accounts. Think before you reply.  Don’t respond
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National Retirement Planning Week

4/10/2014

This week is National Retirement Planning Week and a perfect time to take control of your retirement savings plan.  Throughout your lifetime, you have many opportunities to save for retirement but you can never start too soon!  Visit our Retirement Central microsite for practical Life Stage advice on what to do when you get married, start a family, or retire in order to secure your financial future.  You’ll also find guidance on what to do if you have a life changing event like finding yourself suddenly single or recently laid-off.  The site also has answers to Frequently Asked
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Make Sure the Return Out Weighs the Cost

4/7/2014

A guest post from Ann Lubeck-Brown..... Good news for homeowners embarking on remodeling projects!  For the second year in a row, cost versus value ratios are up for home remodeling and your chances of recovering higher returns on remodeling investments may well be worth the investment. According to an annual report from Remodeling Magazine in cooperation with Realtor® Magazine, the cost-value ratio for 2014 stands at 66.1%. That means you can expect to see an average of 61%  of your construction costs to be reflected in your home’s resale value. Curb appeal remains the
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Improve Your Safety AND Home Value

3/10/2014

A guest post from Ann, our VP-Member Service   My brother recently bought a new home.  Along with its beautiful design and layout, we were impressed to learn that one of the features of the house was fire sprinklers throughout the home.   A new study reveals that the price of residential fire sprinkler systems has dropped significantly, creating an opportunity for safety minded homeowners to tap into the benefits of fire sprinklers.   In 2008, according to the Fire Protection Research Foundation, the average per-foot cost of a system was $1.61; in 2013 the average decreased
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Improve Your Safety AND Home Value

3/10/2014

A guest post from Ann, our VP-Member Service   My brother recently bought a new home.  Along with its beautiful design and layout,we were impressed to learn that one of the features of the house was firesprinklers throughout the home.   A new study reveals that the price of residential firesprinkler systems has dropped significantly, creating an opportunity for safetyminded homeowners to tap into the benefits of fire sprinklers.   In 2008, according to the Fire Protection ResearchFoundation, the average per-foot cost of a system was $1.61; in 2013 theaverage decreased
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Americans Making Little Progress in Savings

2/27/2014

Stagnant wages, and prolonged unemployment and underemployment have meant that many Americans continue to struggle to save.   Finding it difficult to build wealth through homeownership has also impeded many individuals and families from making progress in meeting their savings needs.   Sharon Epperson from CNBC conducted a survey and found that only about one-third of Americans say they're making"good" or "excellent" savings progress, while nearly two-thirds are making only "fair" or "no" progress.   It found the issue for many
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File the Right Tax Form

2/6/2014

(A guest posting by Elaine Laroa, Vice President of Membership Development) Tax time is rife with thorny decisions, so why make life more complicated than it has to be? Use the appropriate federal income tax form for your situation.  Though you may be inclined to just use the same form you filed last year, it doesn’t mean it’s the right one for you now, since your financial circumstances may have changed. Whether you complete paper forms or file them online, the options most individuals may choose from are forms 1040EZ, 1040A, and 1040. Reach CU members may take advantage of Turbo
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Auto Purchase Rebates vs 0% Financing

1/29/2014

A guest post from our Chief Lending Officer...... In the past, auto manufacturers offered rate incentives and rebates to increase the sales of slow-selling models and reduce excess inventory.  That is not the case now.  Rebates AND rate incentives can be found on many popular new vehicles.  This can pose a dilemma - which choice is better for you? Zero-percent financing has a powerful tug when it comes to buying a new car, but it is not always the best choice.  Be sure to confer with your Personal Banker before making the trip to the dealership so you are armed with ammunition
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You spoke. We listened.

1/15/2014

A new hassle free service - MoneyDesktop- now available (A guest post by Elaine Laroa, VP of Membership Development) Almost all consumers want money management tools that allow them to take control of their finances and simplify their lives.  Reach Credit Union members are no different.  Many of you use Mint.com, Quicken or other tools.  We are pleased to announce a safer and easier tool to guide you along your way.  Instead of logging into different sites to manage your multiple accounts, our service, MoneyDesktop, can gather your financial information from all of your
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Ready to Buy a Home?

12/13/2013

(a Guest post from June Smith, our Chief Lending Officer) Before you start looking for a house, ask yourself: Are you comfortable with what you can afford?  If you can’t afford to buy in a certain neighborhood where you want to live, or if you’ll face a significantly longer commute from the places you can afford to live, it may make more sense to continue renting for the time being. Do you have a reserve of cash saved?  You’ll need money for your down payment, and you may be responsible for closing costs on the loan.  You’ll also face new costs in addition to your mortgage payment. 
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