In This IssueUnderstanding the Ins and Outs of Your Credit Score . . . . . . . . . . . . . . . . . . . . . 25 Reasons to Choose PHCU for Your Car Loan . . . . . . . . . . . . . . . . . . . . . . . . . . 3Election Procedures 2018 Annual Meeting . . . . . . . . . . . . . . . . . . . . . . . . . 3Women: Tips to Save on Long-Term Care Insurance . . . . . . . . . . . . . . . . 4

October 2017

Why Open a PHCU Checking Account?

If you’re tired of paying monthly fees to your bank, open a PHCU Checking Account and start saving money today! Enjoy NO minimum balance, NO monthly maintenance fee, NO limitations on debit transactions and more without all the big bank fees .

You’ll also have access to nearly 30,000 surcharge-free CO-OP ATM locations, state-of-the-art Online & Mobile Banking, free Bill Pay and so much more!

Members can add a checking account by clicking on the Services tab within Online Banking or visiting a branch .

Tired of Unwanted Telemarketing Calls? Few things are more aggravating than answering the phone while you’re right in the middle of something – only to be greeted by a recording . Robocalls are unsolicited prerecorded telemarketing calls or texts to your landline or cellphone, and are among the top problems consumers report each year .

Tips for Stopping Unwanted Calls• According to the Katie Daffan, an attorney with the Federal Trade

Commission (FTC), when you get an illegal robocall, hang up the phone . Don’t press one to speak to a live operator . And don’t press any other number to get off the list . If you respond by pressing any number, it will probably just lead to more robocalls .

• Sign up for the National Do Not Call Registry . It’s free, and will at least stop law-abiding solicitors . Visit www.donotcall.gov or call (888) 382-1222 . Note: You must call from the phone you want to register .

• If you’ve been on the Do Not Call Registry for a month or longer and still get calls, you can file a complaint with the FCC . To file a complaint, simply call (888) 225-5322 or submit your complaint online at https://consumercomplaints.fcc.gov/hc/en-us .

• Contact your phone provider and ask them to block the number and whether they charge a fee for that service . Remember that telemarketers change caller ID information easily and often . It might not be worth paying a fee to block a number that will likely change .

• Note: It is NOT illegal for a business to make marketing calls if you have a relationship with them . However, you can request to be removed from their call list . Make sure to keep a record of the date you made the request, and follow up with the FTC if the business keeps calling you .

Learn more about illegal robocalls and what the FTC is doing to stop them by visiting www.ftc.gov/robocalls .

PHCU Fundraiser Earns Over $6,500 for Palmetto Health Children’s Hospital Throughout the month of June, PHCU hosted a coin drive in all branch locations to raise money for Palmetto Health Children’s Hospital, our local Children’s Miracle Network hospital . We are thrilled to announce that we raised $6,576 .96 for the Children’s Hospital with the help of our members and the CO-OP Network . Funds raised will be used to help make a difference in the lives of children in our area .

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You’re probably aware of how important your credit score is when you’re applying for a loan or line of credit . But what do you know beyond that? Learn what your credit score means, how you can improve it, and why your credit score may differ depending on where you get it .

What Your Credit Score MeansYour credit score represents your credit risk, or how likely you are to pay your debts on time . All of the biggest consumer credit scoring companies use a credit score scale of 300 to 850 . In general, the higher your score, the less of a risk you are to lenders . This means there’s incentive for you to raise your credit score as much as possible . However, every lender weighs credit scores differently, meaning there are no hard-set rules for what makes a “good” or “bad” score .

How to Improve Your Credit ScoreIn order to improve your credit score, you should first know how it’s calculated . Your credit score is derived from looking at five factors: your payment history, the amounts you owe, the length of your credit history, your mix of credit in use and the number of new accounts you’ve opened . With that in mind, here are a few tips to help improve your score:

• Request a copy of your credit report from www.annualcreditreport.com. Check for any errors and get them corrected .

• Pay your bills on time. Consistently making timely payments can help improve your score over time .

• Only apply for new credit when you need it. Unless you have no credit history at all, be careful about opening new accounts . Each new account makes it harder for you to keep track of debts and harms the length of your credit history .

• Don’t spend too much on credit. Having too much outstanding debt can negatively impact your score .

Why You’re Getting Different Credit ScoresYou may notice your credit score is different from one credit bureau to another . This is because each bureau uses a different credit scoring model when calculating your score . To get a better idea of how lenders may perceive your score, you can request your credit report and score from all three of the major credit bureaus and compare them .

Are you still establishing a credit history? Start building it now with a secured credit card from Palmetto Health Credit Union . Explore our card options at www.phcu.org/credit-cards.php .

How Can I Learn More About Improving My Score?PHCU offers a variety of online education classes through the Learning Lab to help you understand the basics of personal finance . We are currently offering the following classes:

Credit Reports and Scores – This course will explain how your credit score is calculated and reported to lenders .

Budgeting Basics – This course will give you some tips for developing a budget and tracking your spending .

Home Buying or Preparing to Buy? – Thinking about buying a home? This course will help ensure you are ready before you begin the home buying process .

Car Buying – This course will help you navigate the process of purchasing a car .

Learn more about our online financial classes and counseling options at www.phcu.org/financial-counseling.php .

Understanding the Ins and Outs of Your Credit Score

The higher your credit score, the less of a risk you

are to lenders .

Vital $igns 3

Reasons to Choose PHCU for Your Car Loan

A good car loan can save you money, reduce worries and minimize hassles . And at Palmetto Health Credit Union, we specialize in good car loans .

Cruise through the approval process. Many financial institutions

look no further than your credit report when considering your loan application, and they may deny your request if you have less-than-great credit . But credit unions can take the time to consider the full context of past financial behaviors, which can give you a leg up in the approval process .

Pay less. Credit unions are not-for-profit financial institutions, which

means all profits are returned to members by way of lower fees and loan rates . And auto loans are no exception . Rates at credit unions tend to be lower than at banks, and a lower rate can save you hundreds – even thousands – of dollars in interest payments over the life of the loan .

Experience PHCU’s Auto Advantage. Hate the hassle of

car shopping? Not sure what kind of car you want? No problem . We can refer you to The Automotive Advisor, a free car-buying service, or to one of our local Auto Advantage dealers, McDaniels Automotive

and Chris Polson Automotive, who can help you find the vehicle that’s just right for you . And if you need car insurance, we can help you with that too!

Enjoy a member-centered approach. Member service

representatives keep a strong focus on providing unbiased financial education, such as tips for determining an affordable loan amount based on your situation . Credit unions’ success is largely

determined by their members’ success, so you can rest assured that we have your best interests in mind .

Apply with ease. We make it simple to apply for a car loan . You

can apply to be pre-approved before you even go shopping . Apply online, on your mobile device, over the phone, in a branch or even right at one of our Auto Advantage dealerships . Call (803) 978-2101 or visit www.phcu.org/auto-advantage.php today to learn more .

Election Procedures 2018 Annual MeetingPalmetto Health Credit Union’s 2018 Annual meeting will be held Tuesday, Feb . 6, 2018, at the Baptist Auditorium beginning at 3:30 p .m .

The Board-appointed Nominating Committee will provide the Board Secretary with its list of Board or Supervisory Committee candidates . Nominations may also be made by PHCU members by means of petition containing the signatures of at least 50 members . To be valid, nominations by petition must be submitted with brief biographical data of the candidate and a signed certificate from the nominee stating that he/she is agreeable to the nomination and will serve if elected to office .

Nomination forms may be obtained at our corporate office, located at 1333 Taylor St . Suite 5B, Columbia, SC 29201, or by calling (803) 978-2101 option 5 .

The deadline for submitting nominations by petition to the Credit Union’s corporate office is Thursday, Nov . 9, 2017 . Nominations will not be taken from the floor at the annual meeting . The election will be by means of a mail ballot . Ballots will be sent to PHCU members only if there are more candidates nominated than vacant seats on the Board or Supervisory Committee . Election results will be presented at the annual meeting .

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Board nomination forms

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Products and ServicesDeposit AccountsShare SavingsMoney Management CheckingHealth Savings AccountsCertificates and IRAsChristmas, Back-to-School and Vacation Club accounts

LoansNew and Used VehiclesBoats, Motorcycles, RVs Home Equity Lines of CreditFirst and Second MortgagesPersonal Loans

How to Contact UsVisit www.phcu.org or call (803) 978-2101 or email us at info@phcu.org. You can access your accounts 24/7 through Online Banking, Mobile Banking and our Automated Teller at (800) 996-4676.

This publication does not constitute legal, accounting or other professional advice . Although it is intended to be accurate, neither the publisher nor any other party assumes liability for loss or damage due to reliance on this material . Websites not belonging to this organization are provided for information only . No endorsement is implied . Images may be from ©iStock and/or ©Fotolia . ©2017 Bluespire Marketing | bluespiremarketing .com

Columbus DayMonday, October 9

Thanksgiving DayThursday, November 23

Christmas DayMonday, December 25

2017 Holiday Closings

Palmetto Health Credit Union Branch Information

Palmetto Health Richland9 Medical Park, Suite 240Lobby HoursMonday–Friday, 8:30 a .m . – 5 p .m .

Palmetto Health Baptist1333 Taylor Street, Suite 5-CLobby HoursMonday–Friday, 8:30 a .m . – 5 p .m .

Baptist Parkridge 100 Palmetto Health Pkwy ., Suite G-101Lobby HoursMonday–Friday, 8:30 a .m . – 5 p .m . Closed daily from 11 a .m . to 12 p .m .

Baptist Easley Hospital200 Fleetwood Drive Lobby Hours Monday–Friday, 8:30 a .m . – 5 p .m .

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Women: Tips to Save on Long-Term Care Insurance

The majority of Americans over 65 will need long-term care (LTC) at some time in their lives . LTC insurance is designed to help individuals pay for basic personal care needs like bathing, dressing and eating, with some policies covering everyday tasks such as housework, preparing meals and shopping for groceries .

As a woman, you face a variety of factors conspiring to make your need for long-term care greater than men’s . Women have a longer life expectancy, outliving men by about five years, on average . With advancing age, disabilities and chronic diseases become more prevalent . Older women are also much more likely to live alone, with no one in their household to help with daily activities . Nearly twice as many women as men 65 and older are widowed, divorced, separated or never married .*

These facts help explain why two-thirds of nursing home residents are women, as are 3 out of 5 users of home care, hospice and adult day services .*

With the high cost of long-term care – averaging $46,332 annually for a home health aide to $92,376 for a private room in a nursing home – you also have a greater need for long-term care insurance as a woman .** Medicare and other forms of health insurance don’t generally cover long-term care expenses .

Because of women’s greater use of long-term care services, you’re also likely to face higher premiums for long-term care insurance .

Money-Saving TipsFortunately, you can take steps to lower the cost of long-term care insurance:

• Buy young. Premiums are lower when you’re younger . Be aware that premiums can go up, but if you wait to buy until you’re older, you’re more likely to have a medical condition that will mean higher premiums – or that you can’t get coverage at all . Many experts recommend purchasing a policy when you’re in your early to mid-50s .

• Consider a shared-care policy if you’re married. You and your spouse can each have access to benefits under the other’s policy or dip into a third, shared pool of money if needed .

• Open a health savings account (HSA). If you have a high-deductible health insurance policy, you can save pretax dollars in an HSA and use them tax-free to pay a portion of long-term care insurance premiums (there are limits based on your age) . If you’re in the 25% tax bracket, that’s like getting a 25% discount .

• Choose a longer elimination period. This is the period before your coverage kicks in . But remember that the trade-off for lower premiums is higher out-of-pocket costs if a need for care arises .

• Don’t buy too much coverage. Forty-four percent of nursing home stays last less than a year, and almost 75% last less than three years .*** Also, most long-term care is provided at home, which is less costly than nursing home care .

Learn more about LTC at https://longtermcare.acl.gov/index.html .

* Source: AARP® Public Policy Institute, April 2017 .** Source: Genworth Cost of Care Survey, April 2016 .

*** Source: American Association for Long-Term Care Insurance .