In the new year, think ahead.
The vision for 2020 becomes quite clear:
Worry-free protection against unexpected expenses.
If you haven’t purchased a Mechanical Breakdown Protection (MBP) policy for your car, maybe 2020 is the year to do it.
In 2019 alone, MFFCU had 51 claims totaling $69,201. Our largest payout was $4,058 and the smallest was $111.
When bumps in the road turn into costly auto repairs, MBP becomes more valuable than ever. Especially when those repairs drive costs up to hundreds or even thousands of dollars.
At Miami Firefighters Federal Credit union, we know how important the purchase of your auto was and, how important providing protection from unexpected repair costs stemming from mechanical difficulty or electrical difficulty.
You can purchase your policy at any time, you can include the cost in your loan payment on new and refinanced loans, you can pay out of pocket even if your vehicle is already paid off.
Besides MBP, we also offer Guaranteed Asset Protection (GAP)*, designed to eliminate unpaid loan balance in the event your auto is stolen or damaged in an accident beyond repair. The cost can be included in your loan payment on new and refinanced loans or you can pay out of pocket.
Our GAP also includes Auto Deductible Reimbursement (ADR)**. This is an individual member benefit that reimburses the deductible for any loss covered by the borrower’s auto insurance policy for ALL passenger vehicles owned (i.e. titled or registered) AND insured (i.e. Named insured) by the enrolled member. This includes all members purchasing GAP with the exception of complimentary GAP provided on refinanced loans.
In 2019, MFFCU had nine GAP claims totaling $36,937, with the largest payout being $8,909 and the smallest payout was $767.
*This product is provided to members through other independent companies for the benefit of Miami Firefighters FCU members. This product is not federally insured, are not obligations of the Credit Union, and are not guaranteed by the Credit Union or any affiliated entity.
**Deductible reimbursement is available in most, but not all states. Please consult your financing representative for the availability of this benefit.
You asked for it. You got it.
Many of our members have told us they use Quicken to keep track of their personal finances or have a business where they use QuickBooks. It’s like having a personal finance management helper. You can manage your money on the go across desktop + web + mobile. It can even help you manage your investments and – in a new feature – track the value of your home.
Our members asked us to make the transaction import process easier. We heard you! We are pleased to announce that we have implemented “Direct Connect” for both Quicken and QuickBooks.
Direct connect allows you to set up your on-line banking accounts to download transactions from our on-line banking system with “one click” to Quicken or QuickBooks. This makes reconciling your checkbook a breeze! It also allows you to categorize every transaction the first time you see it and then it will remember the correct budget category when the transaction re-occurs. This makes your tax preparation quick and easy at the end of the year.
If you have more than one MFFCU account you want to track, one click downloads will automatically take place for each account you have set up. To set up the account in Quicken highlight the account and right click. Choose Edit/Delete Account, select the online services tab. Click on the activate account and follow the instructions. In QuickBooks follow the instructions to add a bank feed.
Also coming this year….
A fast, safe and easy way to send money to friends, pay your rent, even pay your associate half of the dinner bill, right on the spot.
This Personal Financial Management tool will let you see all your financial accounts in one place, even if they are at other financial institutions. From creating a budget, bill reminders and more, this product will help make your financial planning as easy as possible.
Other new visionary products include an updated online banking platform.
Did you know?
It is very important that we have your correct information so we can get in contact with you.
Do we have your mobile number, email address and the correct beneficiaries? Please contact us today!
President’s Day – Monday February 17, 2020.
Thank you for your loyalty and continued commitment.