- Expecting a Child:
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Congratulations! Whether you are a brand new parent or growing your family, a new baby guarantees major changes in your life. You may need to:
Start a college fund
If college is a part of your financial planning goals for your new addition, we can help. A college fund helps you save for a college education, deferring taxes, or even tax-free.
Contact a Banker near you for one-on-one planning assistance.
Buy a larger home
A new baby may also mean a new place to call home. Whether you want to relocate closer to schools or need more space for baby to roam, Home Federal wants to be your next mortgage lender.
Contact a Mortgage Specialist near you.
Buy a larger automobile
Does your car fit your new family size? Let us pre-approve you for an auto loan. It's one of the easiest things you can do for your growing family.
Contact a Banker near you for personalized loan options.
Update your financial planning
Now's the time for a free financial check-up. Plan for today and tomorrow.
Contact a Banker near you for one-on-one planning assistance.
- Getting Married:
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A dream come true day you'll remember the rest of your lives! You may need to:
Open a joint checking account
Whether your money is pooled together or managed separately, CHOICE CHECKING with UChoose Rewards is an excellent way to track expenses and define a household budget.
Contact a Banker near you for personalized loan options.
Buy a home
Buying a home, especially your first, is an exciting time in everyone's life. We want to be the first to welcome you into your new home by providing a multitude of home buying options.
Contact a Mortgage Specialist near you.
Update your financial planning
Now's the time for a free financial check-up, including a critical update in your named beneficiaries. Plan for today and tomorrow!
Contact a Banker near you for one-on-one planning assistance.
- Caring for Family:
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There's hardly a more difficult situation than juggling family responsibilities on two fronts – with duty to your own children and also to an aging parent. Take care of your own life needs to be strongly positioned for others:
Consolidate Assets
There are many practical ways to streamline management of multiple sets of finances. From online money management tools to personal assistance changing accounts and automatic payments, Home Federal can help with all the resources you need in one location.
Speak to your banker about:
- Savings Options
- Online Money Management Tools
- Trust and Investment Specialists
- Switch Assistance
Contact a Banker near you for one-on-one planning assistance.
Right-Size your Home
Many from the "sandwich" generation are selling their parents' home and inviting mom or dad to live with them. Renovating or adding an extra room may be more affordable than you think!
Contact a Banker near you.
Prepare for Retirement
It's important for you to continue your own retirement plans! Careful preparation can eliminate the worry of passing on a financial burden to your own children. Now's the time for a free financial check-up.
Contact a Banker near you for one-on-one planning assistance.
Contingency Plans
As uncomfortable as it may seem, this is a critical time to learn as much as you can about family wishes and preferences and plans that are already in place. Though Home Federal cannot offer counseling or legal advice, we want to be of service to you wherever we can. We encourage you to explore the following areas:
- Verify the existence of, update, or establish wills, guardianship for any minors, and powers of attorney for both your parents and yourselves (Consult a legal advisor.)
- Keep good financial and tax records for your own and your parents' holdings and ensure executors and heirs know where to find them (Consult a tax advisor.)
- Be aware of or establish pre-paid burial plans
- Maintain an up-to-date and readily-accessible list of all insurance policies, investments, bank relationships, etc. for your own estate and also that of your parents
- Death:
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Losing a loved one is emotionally draining and overwhelming. Yet, as the surviving spouse, there are still many important financial considerations after immediate arrangements are made with the help of family. Please allow us to help you determine your choices with your:
Home
Allow an appropriate amount of time to pass before deciding to move or sell. You'll want to make an informed decision based less on emotion or fear and more on financial considerations. If you decide to keep the homestead, consider a refinance. Refinancing your home could lower your payment to fit your current single income circumstance.
Contact a Mortgage Specialist near you.
Insurance proceeds
Reinvesting any life insurance proceeds should be carefully considered. Having professional advice during this difficult time is critical to keeping your estate healthy and meeting your independent living goals.
Contact a Banker near you for one-on-one planning assistance.
Change in marital status
Changing titles on your assets, claiming your spouse's retirement accounts or life insurance policies, and updating your insurance policies and beneficiaries should be discussed with financial professionals. Home Federal has financial advisors on staff to help you make informed decisions and to checklist all areas in need of change.
Contact a Banker near you for one-on-one planning assistance.
Personal savings plan
If you've been saving for your child or grandchild's education, let Home Federal show you ways to sustain your support. Options such as an regular sweep from a checking or Money Market Investment account or interest sweep from CDs can be a wonderful way to continue your contributions, even at a reduced rate, if necessary.
Contact a Banker near you for one-on-one planning assistance.
Joint checking account
Sharing money throughout your marriage requires trust and financial communication. When your spouse dies you become the legal owner of the joint checking account. Transferring legal ownership of the account to your name is important. To do so requires a copy of the death certificate and a visit with your Banker. You may also need to notify a retirement payment agency such as the Social Security Office. This will help you avoid incorrect payments of a direct deposit or automatic draft coming into or out of the joint checking account.
If you are not a joint owner on the account, then your rights and/or access cease to exist. The administrator of the estate will be provided all information concerning the joint account. However, if the account has a named or designated beneficiary, the funds would be paid to the beneficiary once the death certificate is submitted.
Contact a Banker near you for one-on-one planning assistance.
