You can save a bundle by shopping for electronics and appliances with an ENERGY STAR® label. ENERGY STAR® is a joint program created by the U.S. Environmental Protection Agency and the U.S. Department of Energy (DOE) to help consumers save money and protect the environment through energy efficient products and practices.

By following ENERGY STAR® recommendations, American saved enough energy in 2009 to reduce the greenhouse gas emission equivalent of 30 million cars. We’ve also saved nearly $17 billion on utility bills.

Here are a few tips, published by the DOE for how to save energy at home by making simple lifestyle changes. To see the full list of recommendations for electronics and appliances, click here.

• Consider buying a laptop for your next computer; they use much less energy than desktop computers.
• ENERGY STAR® computers and monitors save energy only when the power management features are activated, so make sure this is activated on your computer.
• Many appliances continue to draw a small amount of power even when they are switched off. These “phantom” loads occur in most appliances that use electricity, such as VCRs, televisions, stereos, computers, and kitchen appliances. In the average home, 75% of the electricity used to power home electronics and appliances is consumed while the products are turned off. This can be avoided by unplugging the appliance or using a power strip. Use the switch on the power strip to cut all power to appliances.
• For an older appliance, use a power-controlling device to reduce its motor’s energy consumption. Studies have shown that using rechargeable batteries for products such as cordless phones and PDAs, is more cost effective than throwaway batteries. If you must use throwaways, check with your trash removal company for safe disposal options.
• There is a common misconception that screen savers reduce energy use by monitors — they don’t. Automatic switching to sleep mode or manually turning a monitor off is always the better energy-saving strategy.
• Turn off your monitor when you’re away from your PC for 20 minutes or more. If you will be away for two hours or more, turn off your personal computer and monitor.

Many students will opt to get a student loan to help cover these costs, and there are several options to choose from.  Undergraduate and graduate students can take advantage of three main types of government–sponsored education loans that can be used together or separately to help cover their costs: Stafford Loans, Perkins Loans and PLUS loans.  In addition, financial institutions like Tech CU offer a variety of private student loans from companies such as Sallie Mae.

Government-Sponsored Loans

Stafford Loans come in two types: 1) subsidized loans, which are need-based and 2) unsubsidized loans, which are not based on need. With subsidized Stafford loans, the government pays the loan’s interest while the student is in school and for six months after. Students start paying off the principle after graduation and pick up the interest payments. With unsubsidized Stafford loans, students are responsible for the interest during the entire life of the loan (including while they’re in school), though they can defer payment while enrolled.

The interest rate for subsidized Stafford loans is fixed, but the rate varies, depending on the year in which the loan is originated. The rate is also fixed for unsubsidized Stafford loans, but it doesn’t vary from year–to–year. Currently though (at least through 2013), the rate for subsidized and unsubsidized loans is set at 6.8 percent for both.

Perkins Loans, which are federally subsidized and based on need, have a fixed interest rate of 5 percent, which is set by law. The interest is deferred while the student is enrolled in school and for a grace period of nine months after graduation.

PLUS loans are government-sponsored loans for parents. The loan’s fixed interest rate is 7.9 percent and parents can borrow money to cover tuition and living expenses minus any additional financial aid and loans their child is receiving.

Unlike the Stafford and Perkins Loans, repayment of principal and interest on a PLUS loan begins 60 days after the loan is fully disbursed. Parents can opt to let the interest capitalize until the student leaves school. However, any interest that accrues from the date of disbursement is added to the outstanding loan balance through a process called capitalization.

For more information about student loans, read Smart Money’s Student Loans Demystified.

Student Loan Solutions from Tech CU

To help students with incidentals, Tech CU offers a Connect Credit Line as part of our PlugIn Student Banking Package. Connect Credit introduces students to the idea of borrowing. With a limit of $250 to $500, students can safely and easily begin building their credit without the risk of getting too far into debt. Students can also take advantage of the Tech CU Visa Credit Card.

Finally, Tech CU’s Sallie Mae Smart Option Student Loan® is ideal for families that have a gap when it comes to funding their student’s education. The Smart Option Student Loan helps students save money, pay off their student loan faster, and build credit.

And, Tech CU also offers private loans with competitive rates for students and parents who may want a revolving line of credit, a personal line of credit or secured loan. For more information, click here.

The new regulation gives consumers a choice regarding their financial institution’s payment of overdrafts (including Tech CU) for ATM and one-time debit card transactions. If you have a debit card issued by your credit union (to use at an ATM machine or for everyday debit card transactions) the institution must obtain your consent before enrolling you in an overdraft protection program — you will need to “opt in.”

The regulation does not apply to checks, ACH or recurring debit transactions, such as monthly payments for utilities and other bills.

Your financial institution must also provide you with a clear disclosure on the fees and terms associated with its overdraft service.

If you are currently covered by overdraft protection and want to keep the same level of service on your account, you will need to opt in for ATM and everyday debit card transactions. You must opt in before Sunday, Aug. 15, 2010 if you want to maintain your overdraft protection without interruption, but can also opt in anytime after that.

If you do not opt in, you will still be covered for checks, ACH, and recurring debit transaction overdrafts — but no longer covered for ATM and everyday debit card transactions. This means that if you use your debit card at an ATM or to make a purchase and do not have enough money in your account to cover the transaction, your transaction will be declined.

If you do choose to opt in, you will have your ATM and everyday debit card transactions approved even when you have insufficient funds. There is no charge unless an overdraft occurs.

If you opt in and overdraw your account, your financial institution will cover the insufficient funds but charge you an overdraft fee, which varies depending on your institution.

For more information on Tech CU’s overdraft protection program, go to our web site, call us at (800) 553-0880, or visit any of our nine Financial Centers.

Tech CU recently became involved in the Intel Math Program, a content-intensive professional development program that helps train elementary school teachers (K-8) in mathematics — better preparing them to teach math and science in the classroom.

We have made a 3-year commitment to sponsor the program, which helps to deepen a teacher’s knowledge on such topics as integer arithmetic, the decimal number system, linear equations and more – the fundamental blocks of mathematics.

With so many school districts facing unprecedented budget cuts, professional development among teachers is one of the first items to be cut. It’s hard to emphasize what a travesty this is and how it can affect both our teachers and future students.

To find out how you can help our teachers, or to learn more about the Intel Math Program, go to the “Developing Teachers” section of the Intel web site.

Join us for an educational workshop that focuses on:

• Calculating the cost of retirement
• Sources of retirement income
• Determining your retirement goals
• Strategies for retirement investing
• Protecting your retirement portfolio from market volatility
• Safeguarding assets from the unexpected

When you attend the workshop, you will receive a full-color, 20-page workbook on preparing for retirement. This invaluable resource contains essential information, exercises, and questions that will help you assess your current situation and make sound financial decisions. Perhaps best of all, you’ll be eligible for the complimentary consultation offered to all workshop participants.

Tuesday, July 27, 2010
6:30 p.m. – 8:00 p.m.

Santa Teresa Financial Center
846 A Blossom Hill Road
(at Santa Teresa Boulevard)
San Jose, CA 95123

Click here to register.

Donate a backpack or school supplies for children grades Kindergarten to 12th grade for prepare them for the new school year!

Donations are accepted at any of Tech CU’s 10 Financial Centers between Monday, August 2 and Friday, August 13.

Learn more about the Family Supportive Housing by clicking on here.

Bank of America claims to have more than 18,000. Chase says that they have more than 15,000. Citbank purports to have more than 26,000. We’re speaking, of course, about fee-free ATMs. Sound like a lot?  Think Again. Did you know that Tech CU gives you access to more than 60,000 surcharge–free ATMs throughout the U.S.? Yes, more than 60,000.

That’s because Tech CU is part of the AllPoint Network, the largest ATM network in the country. ATM access is also available through the CO-OP network and Tech CU-owned ATMs. And, these ATMs are located in convenient locations, such as national and regional retailers like Costco, ExxonMobil, Rite Aid, Target, Walgreens, Circle K and more. Just look for these logos.

Typically, if you use an ATM that is not owned by your bank, you can expect to pay two fees: 1) your bank will charge a fee to process a transaction from another bank’s ATM and 2) the bank or entity that owns the ATM will charge a fee (called a surcharge) to process a transaction from a non-customer.

The national average ATM transaction fee is $2.50. This can be even higher at places like airports, hotels, sporting venues and other areas where it’s difficult to find an ATM. In fact, you can expect to pay as much as $5 in some locations— and those fees are rising.

The national average surcharge surpassed the inflation rate by more than 300 percent in 2007. That year, Bank of America announced the surcharge rates would rise from $2.00 to $3.00 (a 50 percent increase) at nearly two-thirds of its ATMs nationwide. A USA Today article discussed the move:

At Bank of America, spokeswoman Betty Riess says the higher fees help offset the “significant investment” the bank has made to upgrade and expand its cash machines. Read more.

So, you may think joining a credit union means having less access to ATMs, but the reality is quite the opposite. With a credit union like Tech CU, you can withdraw money fee-free at more than 8,000 ATMs in California and 60,000 nationwide.

Can’t find a Tech CU ATM? Use Tech CU’s Location Finder application online or via your iPhone. The iPhone app lets you find the nearest surcharge-free and deposit-taking ATMs, as well as Tech CU branches and service centers. It even includes maps and turn-by-turn driving directions. The ATM Location Finder can be downloaded for free at the iPhone App store or on Tech CU’s web site.

The IRS bases your obligation on two main criteria: the amount you earn (the higher your income, the more you are taxed) and the information you provide on your W-4 to your employer, including:

• Choosing to withhold at the single rate or (lower) married rate
• Number of allowances you claim (each allowance reduces the amount withheld)
• Withholding an additional amount

You can adjust your W-4 at any time during the tax year. Typically, people do so based on lifestyle changes — a marriage or divorce, the birth of a child, or the purchase of a new home.

The IRS Withholding Calculator makes it easy to determine whether you need to give your employer a new W-4 to avoid having either too much or too little federal income tax withheld from your pay. The calculator takes you through five basic pages of information. If you have your pay stubs and income tax return on hand, the whole process can take less than 15 minutes.

For more information on adjusting your tax withholding, go to the IRS Tax Withholding page.

If you’re self-employed or have a more complicated tax situation and are unsure of how much tax to withhold, it can be helpful to talk to a tax advisor before making any adjustments.

Reviewing Your Goals and Progress. Review your financial goals for 2010. Were you trying to reduce debt, save money or put more away for retirement? Hopefully, when setting your initial goals, you established a way to track success — such as paying down your debt by a specific dollar amount. How far have you progressed?

Perhaps some unexpected changes have taken place and your goals need to be adjusted. Or, perhaps you need to make changes in your behavior to get back on track. Either way, these adjustments are easier made at the mid-year point than later on.

Review Your Retirement Savings. Review your retirement funds and investment allocation with a financial advisor. Check all your retirement accounts, such as your IRA or company retirement plan, and see where you stand with regard to contributions. Assess how much more you can put away this year and whether or not you have enough cash to max out contributions.

Review Your Tax Withholdings. You can do this by looking at your latest pay stub for the total federal and state taxes that have been withheld. Has anything in your life changed (perhaps you are withholding too little or too much)? If so, adjust. Go to the IRS.Gov site and run through the IRS Withholding Calculator to confirm what you should be filing in 2010.

Review Your Credit. You have the right to request a free copy of all three of your credit reports at least once a year (Experian, TansUnion and Equifax). And, you can determine when you receive each individual report. Staggering the reports, so that you receive them at various times of the year (say for example, one in April, August and December) will give you a continuous picture of what your credit looks likes. You can also review the report for errors. Order your report at www.annualcreditreport.com.

Assess Your Emergency Fund. Take a look at your emergency fund and see if you have between three to six months of expenses saved away. If not, you should think about how to start saving more. With today’s unstable economy, having an emergency fund to help with life’s “unpredictable” events is more important than ever.  

Spending. Review what you’re spending and where it’s going on a monthly basis. There are several free online personal finance applications (such as Mint.com) that can help you track spending very easily. Try to find areas where you can reduce spending and redirect money towards your savings goals — this will also help build up your emergency fund.