The Difference Between Banks and Credit Unions – Part 2
May 2, 2012 by Home Services Link · Leave a Comment
In a previous issue of this newsletter, we began examining the major differences between credit unions and banks. In this issue, we will continue the discussion.
Membership requirements also set credit unions apart from banks. As mandated by the Credit Union Membership Access Act of 1998, credit unions cannot serve the general public. Banks, of course, can offer services to everyone who walks through their doors.
In order to join a credit union, potential members must be part of a field of membership, which is typically based on your employment, the community you live in, or membership in an association or organization.
There are, however, a number of ways that banks and credit unions are similar. The deposits of both entities, up to $250,000, are insured by one of two federal agencies: the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA).
It’s important to note that not all credit unions offer government-backed insurance, so be sure to verify that your credit union is a member of the NCUA.
Banks and credit unions are subject to periodic regulatory and federal insurance examination.
Additionally, credit unions and banks are both required to operate under federal or state charters.
Both credit unions and banks are required by federal law to verify the identity of their applicants.
Finally, banks and credit unions alike offer a variety of financial services, from checking and savings accounts, to consumer and business loans, to mortgages and credit cards, and more.
The contrasts between credit unions and banks may seem subtle at first glance, but their variations can make a big difference in your experience as a customer. To learn if credit union membership is right for you, contact Emery Federal Credit Union.
Car Insurance Tips & Advice
April 4, 2012 by Home Services Link · Leave a Comment
Proper insurance for your car and proper maintenance for your home are key. It’s recommended that you do your research on insurance providers and home improvement and repair contractors. We’ve done the work for you when it comes to home improvement contractors. So any time that you need repairs or improvements to your home, contact Home Services Link. We’re your home improvement connection in Cincinnati and Northern Kentucky, so if you need a plumber, electrician, landscaper, handyman, general contractor, flooring specialist, painter or even a personal assistant, HomeServicesLink is here to help.
Car Insurance 101
Car insurance is one of the biggest expenses we have in our annual budgets, but it’s also one of the most important. The right car insurance policy can protect us in the event of an accident, and also help us get back on the road and recover quickly. If you are searching for car insurance rates, be sure to consider all of these car insurance tips. Each can help you consider different factors of the industry.
Research and Compare Car Insurance Providers
It’s very wise to do your homework and consider several different car insurance companies. This is so you not only save money, but also so you can verify that you’re working with a reputable and trusted insurance company. There are several different consumer-friendly Web sites that provide reviews of insurance carriers. You also can ask friends and colleague about their insurance providers and their feelings about them. No mater what, be sure to use a service that will help you get competitive quotes from several companies at once. This allows you to compare, contrast and make an educated decision.
Understand the Different Coverage Types
There are so many terms related to car insurance – property damage liability, bodily injury liability, uninsured motorist protection, collision coverage. Make sure you understand the phrases and terms in your policy, and how they relate to your overall benefit. Most states, for example, will have set rules about property damage liability and bodily injury liability coverage. Some other types of coverage, such as uninsured motorist protection, might be up to you to purchase. Ask your carrier to explain these if they are not clear.
Determine How Much Coverage You Need
As you go about getting car insurance quotes, it’s important to think about exactly how much insurance you should get. While each state prescribes a minimum amount of coverage that is necessary, you will definitely need more than the state minimum. But figuring out exactly how much can be a challenge.
One of the most important pieces of car insurance information is the overall value of your vehicle. Quite simply, if your car isn’t worth a ton then you probably don’t need to have the most expensive auto insurance policy out there. But if your car does have a lot of value, then you’ll probably want a pretty comprehensive policy. Regardless, be sure to get enough coverage to protect you in the event that you’re in an accident. Remember, insurance covers not only your vehicle, but also any health care costs, lost wages, and property damage that could result from an accident.
Compare Quotes
Perhaps the best car insurance advice you can receive is to always receive competitive quotes. By doing this, you’re making sure that you’re getting the type of coverage you need and also at the best price. Look at not only the premiums quotes, but also the deductibles, the coverage ranges, and the limits of the policy’s benefits. Look at the policies side-by-side, and decide which one offers you the best overall coverage for the dollar.
Take Advantage of Possible Discounts
Discounts? On car insurance? You bet. As you go about getting competitive quotes, don’t forget to ask about any ways you can save overall on your car insurance costs. One of the most common types of car insurance discounts is a “multi-policy discount,” in which your insurance company will reduce your overall premium when you add another policy – such as your homeowner’s insurance policy. You also could receive discounts if you attend driver’s education courses (or if your teenager does) and if your car is equipped with safety features. Be sure to ask your agent whether you are eligible for any discounts before you take out a policy.
Article courtesy of InsuranceRate.com.
How Often Should You Change Your Car’s Oil?
March 30, 2012 by Home Services Link · 2 Comments
Photo: Robert Couse-Baker/Flickr
We all want the best value for our money whether it’s for home improvements or car repairs and maintenance. So how do you save money, do what’s right for the environment and help business owners continue to operate? It’s simple, follow the recommended maintenance for your car and your home. HomeServicesLink can help Cincinnati and Northern Kentucky homeowners locate screened, insured and quality home improvement contractors.
We also want to help you take care of your other large investment, you automobile, so we’ve shred this recent article from TrueCar (Brandy Schaffels, Senior Editor).
Do you change your oil every 3,000 miles? The majority of drivers on the road have been bombarded by advertising that recommends changing their car’s oil every 3,000 miles, but the truth is that interval is no longer really necessary. Yes, engine oil does get dirty, and when that happens, it can clog engine parts, but if you’re driving a car that’s less than five years old, you’re probably wasting money — and oil — if you change it as frequently as that. Yes, knowing when to change oil is not as simple as some ad campaigns would have you believe.
Changing the oil in your car every 3,000 miles was necessary in the 1970s, when most cars used 10W-40 oil, which tended to wear out within about 3,000 miles. Thanks to improvements in high-quality lubricants and tighter tolerances in the assembly of automotive engines, the 3,000-mile baseline simply does not apply to many cars on the road today; in fact, automakers now recommend you change oil at 5,000, 7,000, 10,000 or even as high as 15,000 miles for newer models under ideal driving conditions. For example, Toyota recommends you change oil at 5,000 miles for a 2005 Tacoma pickup, Honda recommends 7,500 miles for its 2002 Odyssey, General Motors suggests 7,500 miles for its 2007 Chevrolet Malibu, and Ford recommends 10,000 miles for its 2011 Fiesta. A 2008 Porsche Boxster can go 12,000 miles between changes, and a 2010 BMW 3 Series can go up to 15,000 miles before you change oil under ideal conditions; with this kind of complexity, it’s easy for consumers to be confused.
Almost 15 million Californians change their motor oil every 3,000 miles or more often, using more than 150 million gallons of motor oil each year – enough oil to fill 255 Olympic-sized swimming pools, according to a recent study by CalRecycle. CalRecycle spokesperson Jeff Danzinger says their studies indicate the state could reduce total motor oil consumption by as much as 10 million gallons per year if motorists were to change oil according to manufacturer recommendations. “If you’re changing your oil too soon, you’re needlessly creating waste oil and putting a strain on the system and supply,” Danzinger explains.
And that’s just California — wonder how much oil is being wasted across the entire United States by people who have fallen victim to advertising and don’t follow the intervals recommended in their owner’s manual? Across the country, reprocessors treat about 1.1 billion gallons of used oil yearly according to the American Petroleum Institute (API).
Unless you’re driving a car that’s more than ten years old, or under super extreme conditions, there’s really no reason to change your oil at 3000 miles anymore. Let’s put that amount into dollars: Changing motor oil according to manufacturer specifications would reduce motor oil demand in California by approximately 10 million gallons per year, and could halve the amount of money those drivers spend on oil changes, which average about $25 at quick-change facilities and can cost significantly more if your vehicle uses long-life synthetic oil. Under normal driving conditions, following the automaker’s recommended intervals will not affect your car’s engine, its performance, or your warranty.
What Is Considered Severe Use?
Severe use involves extensive idling or driving frequently in stop-and-go traffic; operating in cold temperatures below
Photo by: Jason Anfinsen'Flickr
10 degrees or extreme temperatures above 90 degrees; extreme humidity; repeated short-distance trips of less than five miles; towing a trailer or hauling heavy materials; or using E85 fuel more than 50 percent of the time. If you do drive in any one of these conditions in a typical week, you are driving in severe conditions, and may need to change oil more often.
What Happens if you Don’t Change Oil in Your Car?
As Alina Tugend of the New York Times says, “It just gets dirtier and dirtier. It’s like mopping the floor with a bucket of water and detergent. The water starts out clean, but the more you use it, the filthier it gets. Eventually, you’re making the floor dirtier if you don’t change the water.” Dirty oil no longer lubricates properly, increasing friction, operating temperature, and causing the engine to wear faster.
Do You Know When to Change Oil?
Your vehicle’s owners manual will tell you how often you need to change your oil. If you drive a newer model, the car may just tell you when you need to change your oil. Since 2003, General Motors has equipped nearly its entire North American lineup with the GM Oil Life System; in fact, since the 2010 model year, nearly half of American carmakers now offer Oil Life Monitoring Systems to tell drivers when their car actually needs its oil changed, including Acura, BMW, General Motors, Honda, Mercedes-Benz, and Mini. These Oil Life Monitoring systems automatically monitor engine characteristics, driving habits, cold starts, short-distance trips, and the climate in which the vehicle is operated, and then notify the driver when it is time to get an engine oil change with an signal on the dash indicating it’s time for service.
If you are an extremely low-mileage driver you should change oil at least once a year. Otherwise, if your vehicle is equipped with an oil life monitoring system, you can trust the info/alert in your dashboard to tell you more accurately when you need a change. Don’t have an Oil Life Monitoring System? Consult your owner’s manual, your auto manufacturer’s official website, or authorized dealer for more information. Curious about your car right now but don’t have an owner’s manual handy? You can find suggested oil change intervals for many makes and models all the way back to the 2000 model year on the nifty widget at www.checkyournumber.org.
The Difference Between Banks and Credit Unions – Part 1
March 7, 2012 by Home Services Link · 2 Comments
Though they may seem the same at first glance, banks and credit unions are significantly different in the way they do business. Understanding the distinctions between the two can help you choose the financial institution that best fits your fiscal needs and lifestyle.
To begin with, banks are for-profit business corporations that accept deposits and create profits by investing that money or loaning it out to other customers. Banks are owned by private investors and governed by a board of directors that is chosen by the stockholders. All activities a bank engages in are expected to show a profit—the more money a bank makes for its investors, the better.
Credit unions, on the other hand, are not-for-profit financial cooperatives that also create earnings by accept deposits from their members and use them to make loans. Member deposits are regarded as purchases of shares—so rather than being a customer, you’re part owner.
Instead of returning profits to shareholders, credit unions split their earnings among their members in the form of higher savings rates, lower rates on loans and credit cards, and fewer fees on average.
Credit unions are democratically operated by members, allowing account holders an equal say in how the credit union is operated, regardless of how much they have invested in the credit union.
The Difference Between Banks and Credit Unions will continue in the next issue of our newsletter. If you would like more information about credit unions in the meantime, contact Emery Federal Credit Union at 513-530-9351.
Gas Saving Car Tips
February 15, 2012 by Home Services Link · Leave a Comment
Fill up with a lower-octane gasoline. Buy the lowest grade or octane of gasoline that is appropriate for your car. Unless your car requires premium gasoline, filling up your car with high-octane fuel is a waste of money. That pricey premium fuel won’t boost your car’s fuel economy or performance in the least, so skip it.
If you’re not sure what grade of fuel works best for your car, open up your owner’s manual and take a look. As long as your engine doesn’t knock or ping when you fuel up with regular unleaded, you’re good to drive on this much cheaper gas. Passing on pricey premium gasoline could save you hundreds of dollars a year.
Don’t top off. Don’t bother topping off when filling your car’s gas tank. Any additional gas is just going to slop around or seep out. Why waste your money paying for gas your car won’t use? Stop pumping at the first indication that your tank is full when the automatic nozzle clicks off.
Tighten up that gas cap. Gas will evaporate from your car’s gas tank if it has an escape. Loose, missing or damaged gas caps cause 147 million gallons of gas to evaporate each year, according to the Car Care Council. So be sure to tighten up that gas cap each time you fuel up your car.
Go for the shade. The hot summer sun that makes the inside of your car feel like a sauna also zaps fuel from your gas tank.
“If you let your car bake in the sun there’s going to be a greater amount of evaporative emissions that take place than if you park in the shade,” says Jim Kliesch, research associate at the American Council for an Energy-Efficient Economy and vehicle analyst for GreenerCars.com.
So park your car in the shade of a building or tree whenever possible. And buy a good windshield shade. A windshield shade blocks sunlight and helps to keep heat out of the inside of your car.
Use your garage for your car. Got a garage? Clear it out and make room for your car. Parking in your garage will help your car stay warm in winter and cool in summer, and you won’t have to depend as much on your gas-guzzling air-conditioning or defroster when you drive.
Pump up your tires. Don’t get caught driving on underinflated tires. Underinflated tires wear down more quickly and they also lower your car’s gas mileage.
“Tires that have low pressure offer more resistance so the engine is going to work harder to keep the car at 60,” says Brian Moody, road test editor at Edmunds.com.
Your car’s gas mileage may plummet by as much as 15 percent. Driving on underinflated tires may also reduce the life of your tires by 15 percent or more.
Check your tire pressure once a month. Buy a digital gauge and keep it in your glove box. Compare the pressure in your tires with the recommended pressure listed in your owner’s manual and on the placard in your car door. Then inflate your tires as needed. Be sure to check tire pressure when your tires are cold. A good time is early in the morning after your car’s been idle overnight.
Keep your engine in tune. Fixing a car that is out of tune or has failed an emissions test can boost gas mileage by about 4 percent. So be sure to give your car regular tune-ups. You’ll also want to watch out for worn spark plugs. A misfiring spark plug can reduce a car’s fuel efficiency by as much as 30 percent.
Replace air filters. Keep a close eye on your engine’s air filter. When the engine air filter clogs with dirt, dust and bugs, it causes your engine to work harder and your car becomes less fuel-efficient. Replacing a clogged air filter could improve your gas mileage by as much as 10 percent and save you 15 cents a gallon. It’s a good idea to have your engine air filter checked at each oil change. The Car Care Council recommends changing your car’s air and oil filters every three months or 3,000 miles or as specified in your owner’s manual.
Use the right oil. You can improve your car’s gas mileage by 1 percent to 2 percent by using the manufacturer’s recommended grade of motor oil. Opt for motor oil with the words “energy conserving” on the API performance label. This oil contains friction-reducing additives.
Don’t skimp on maintenance. Be serious about auto care. Your car’s performance depends on it.
“Always follow the manufacturer-recommended maintenance,” Moody says. “The car’s designed to run a certain way. If you neglect it, it won’t be as efficient.”
Obey the car-care guidelines outlined in your owner’s manual.
Information from Bankrate.com (http://www.bankrate.com/brm/news/auto/fuel-efficient/5.asp).
Financing Home Projects for HomeServicesLink Members
December 12, 2011 by Home Services Link · Leave a Comment
What is a credit union?
Simply put, credit unions are in business to help people.
Credit unions are not-for-profit financial cooperatives that are owned and managed by their members and are regulated like any other financial organization. However, credit unions are considerably different from traditional banks, thrifts and finance companies. The major difference lies in the fact that banks and other financial institutions are for-profit organizations that operate for the benefit of shareholders. In contrast, credit unions split profits among their members in the form of higher returns on savings, lower rates on loans and fewer fees on average.
Membership requirements also set credit unions apart from traditional financial institutions. As mandated by the Credit Union Membership Access Act of 1998, credit unions cannot serve the general public. Individuals typically qualify for credit union membership through their employer, organizational affiliations like churches or social groups, or by living in an area served by a community-chartered organization.
Similar to the way bank deposits are insured by the FDIC, credit union deposits are insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), which is administered through the National Credit Union Administration (NCUA). According to ncua.gov, no federal tax dollars have ever been placed in the NCUSIF, and no member has ever lost money insured by the NCUSIF.
Originally chartered in 1939, Emery Federal Credit Union is a Cincinnati-based, full-service financial cooperative that is wholly dedicated to serving its membership. It is a fast-growing, progressive credit union that offers members a full range of financial products and services including deposit accounts, loan products/services and commercial services.
Emery FCU returns its excess earnings back to its members in the form of lower loan interest rates, higher-yield savings and investment accounts, and low- or no-fee convenience services, as well as friendly, comprehensive service provided by its employees.
Membership with Emery FCU can be obtained by visiting a branch office—there are five located throughout Cincinnati—or by applying online. You simply have to complete an Emery account card and deposit $5.00 to open an account.
To learn more about credit unions, or to get additional information about joining Emery Federal Credit Union, please call 513-530-9351.
As a member of Home Services Link, you are eligible to join as a member of Emery Federal Credit Union.
Extend Tire Life
October 5, 2011 by Home Services Link · 2 Comments
Increase the life of your tires by making sure your wheels are in alignment. Wheels will go out of alignment under normal driving conditions, but this will be accelerated by excessively running into bumps and curbs. If you are experiencing uneven tire wear, schedule an appointment to have your alignment adjusted.
Each tire wears differently because of its position on the car. To ensure even wear on all tires, they must be “rotated”—their positions must be swapped regularly. A good rule of thumb: you should rotate your tires every other oil change or approximately every 5,000−8,000 miles. 
When tightening the lug nuts of a wheel, always use a star pattern. This ensures that the wheel is tightly secured and flush against its mount. With a five−nut wheel, tighten one nut, skip one, tighten the next nut, skip another, and so on until all are tight. On a four−nut wheel, tighten nuts in opposing pairs.
For best performance and longest life, keep your tires properly inflated based on the manufacturers specifications (32 psi on average). Overinflation causes excessive wear down the center of the treads while underinflation causes excessive wear at the edges.
You can usually find the proper inflation level on the inside of the driver’s side door of your car.
Auto Tips & Tricks
September 7, 2011 by Home Services Link · Leave a Comment
We all want to get the most from our cars and by following these simple tips; we can do just that. You’ll improve fuel efficiency, reduce wear and tear and extend your car’s life by simply completing basic maintenance and following these tips and tricks provided by Evan’s Auto Care.
Fuel Efficiency
On long drives, use the cruise control to save gas. The gradual acceleration and deceleration improves your fuel efficiency.
Putting luggage and other items on top of your vehicle creates drag. To reduce these effects, put the luggage and any other items inside a roof top container or wrap them in a tarp secured by a rope. This not only causes less drag, but also protects your items from weather.
You don’t need to warm up your car in the morning—that’s an old myth. As long as you are not subjecting the car to excessive loads right away, driving your car under normal conditions will naturally bring the car to optimum operating temperature. Idle warm−up periods waste fuel and cause air pollution.
Keep your tires properly inflated to keep your gas mileage high. Driving with low tire pressure is like riding a bike with a flat. Besides wearing down your tires, it simply wastes energy. Proper inflation levels are determined by the manufacturer, but are usually about 32 psi.
Overheated Engine
To cool down an engine on the verge of overheating, turn off the air conditioner and turn on the heater full blast. This will help dissipate heat from the engine. Stop the car if this doesn’t cool down the engine. This is not a permanent fix. Schedule an appointment to fix the problem.
Avoid overheating by reducing the load on your engine. If you are climbing a long hill, turn off the air conditioner or shift into a lower gear. This will allow you to get over the hill without over-straining your engine.
Don’t open the cap on the radiator when it’s hot (right after the car has been running for a while). The hot fluid inside is under tremendous pressure and can shoot out and burn you.
Starting Your Car
If you ran out of gas before filling up, your car may need a little help getting started. If you have a fuel injection system, turn the ignition on and off a few times without actually starting the car. This will pressurize the fuel system and assist in starting the car. If you have an old carburetor system, give the gas pedal a couple of pumps before turning the key.
Jump starting a car can get you out of tough situations, but it can also be quite dangerous. Follow these precautions before doing so:
1.Don’t smoke—batteries produce gases that are explosive.
2.Remove any loose clothing, jewelry, watches and necklaces, as they might get caught in moving parts.
3.Do NOT attach the negative jumper cable to the negative post on the dead battery. It will give off sparks that could ignite the battery gases and cause an explosion.
Evan’s Auto Care can help you take care of your car and Home Services Link will assist you in caring for your home. Contact us before you start your next home improvement or repair project for insured, screened and reliable contractors. Email us or call 513.271.1888
Don’t ignore your cars AC
May 10, 2011 by Home Services Link · Leave a Comment
Even though Home Services Link is a home improvement company, I couldn’t help but talk about your cars Air Conditioning, not your home. Every year around this time of
year in Cincinnati everyone is cruising in their car with the windows down (when it’s not raining) and enjoying the cool spring weather. At the same time, we don’t realize there’s an issue brewing under the hood. I can tell you from personal experience, June in our area with no AC in the car IS NOT FUN. So take my advice, turn on your car’s air conditioning now and make sure it’s working perfectly. If not, don’t wait, get it fixed so you can be cool this summer.
