Everyday, MidWest Financial offers you a wide range of high quality products and services. Do you know that, as a member of the credit union, you are also eligible for great extra member perks?

For example, your membership entitles you to discounts on your auto insurance and cell phone services. Other perks are more season-driven such as discounts on Cedar Point and Renaissance Festival tickets and on tax filing fees with TurboTax Online. Considering purchasing a new vehicle? Take advantage of rebates on GM vehicles available to credit union members through Invest In America program.

Make sure to visit our Exclusive Member Perks & Discounts page for a complete list of current discounts available to you.

Mint.com is a free, web-based service available to track your financial activities in one place—a service known as an account aggregator. Although MidWest Financial has no official opinion on using these types of services, here are some things you may wish to consider before diving in:

• Security — What type of data protection are they using?
  • 128-bit SSL encryption is the standard for bank encryption.
  • Does the site need your bank account login info? If so, how is that info stored?
    • Example: Mint.com states that it does not store login credentials. Someone, however, has to be storing them if the site’s automatically accessing your info. But there’s really no way to know who or how.
    • Be aware that most Identity Theft protection resources will tell you, for very good reason, to keep your account numbers, user names, and passwords secret, no matter what.
• Access — Can you actually use the Web site as it claims? Who else can see your data?
  • Not every financial institution “participates/is supported” by these services because of account security laws.
    • A Multi-Factor Authentication process (those extra security questions) is required for financial institutions. Mint.com, etc., can’t always navigate the various processes.
  • Check the Terms of Use and Privacy Policies carefully and make sure you are comfortable with who and how your personal data may be shared.
• Convenience—How easy is it to get or delete your information?
  • Can you get the info you want or need in a manner that is convenient to you? For example, is the site easy to navigate? Is there an App for your Smartphone?
  • Is it simple to delete your account/information if you decide this system doesn’t work for you?
• Technical Support — Is there help if you run into issues?
  • MidWest Financial’s staff cannot help you troubleshoot these services in any way, shape, or form. We are not affiliated with Mint.com, etc., and have no expertise in their workings. Also, you may or may not be able to link your MidWest Financial accounts.

Damaging storms, tornados, flooding, even an earthquake. There’ve been a lot of natural disturbances/disasters lately in Michigan. Question is if you had to evacuate your home because of one, do you have a disaster box ready?

A disaster box is a waterproof, fireproof container (e.g. portable safe, etc.) that you can take with you in the event of a fire or natural disaster. Your disaster box should include:

• A key to your safe deposit box, if you have one
• Camera—a single use box camera will do
• A copy of your household inventory
• Copies of your insurance papers (car, home, renter’s, health, life, etc.), including agent contact info
• Copies of recent bank, investment, and mortgage account statements
• Copies of birth certificates, adoption papers, and Social Security cards
• Copies of Marriage, divorce, and military records
• Copy of your Will
• Copies of passports and any papers related to immigration or green card issues
• Phone numbers and other contact info for friends, family, doctors and other professionals
• Portable computer storage device (USB drive, etc.) with important financial and/or family records kept on your computer
• A small amount of cash

Why keep copies of your information in your disaster box? Most of us keep the original documents in home safes or another secure location. There may not be time to retrieve original copies in an emergency and copies are better than nothing at all.

 For more information about preparing for a natural disaster, please visit Ready.gov

What is Medical ID Theft?
It’s the theft and use of your insurance ID, Medicare number or Social Security number (SSN) to obtain medical treatment or drugs under your name. And it’s the fastest growing form of ID Theft in the U.S.

How can you tell if you might be a victim?

• You get a bill for medical services you didn’t receive
• A debt collector contacts you about medical debt you don’t owe
• Your credit report contains medical collection notices you don’t recognize
• You try to make a legitimate insurance claim and your health plan says you’ve reached your limit on benefits
• You are denied insurance because your medical records show a condition you don’t have

How can you protect yourself?

• Read every “Explanation of Benefits” (EOB) statement you receive from an insurer. Are there charges for medical services or equipment you did not receive? Contact your insurer and let them know your concerns.
• Ask for a copy of your medical records. You will probably have to complete a form and pay a fee for this. Look for inaccuracies in your records—especially with basic information, such as blood type and diagnosis.
• Request a listing of the benefits your insurer has paid under your name at least once a year. It’s a good way to learn what was charged to your account as thieves often change your billing address to avoid detection. Contact your insurer about any charges you do not recognize.
• Check your credit reports for any medical debts that are not yours.

What do you do if you are a victim?

• File a complaint with the Federal Trade Commission at https://www.ftccomplaintassistant.gov. The FTC recommends filing this first to assist with filing a police report.
• File a report with your local police, and send copies of the report to your health plan’s fraud department and your health care provider(s).
• Exercise your right under HIPAA to correct errors in your medical and billing records. Write to your health plan or provider detailing the information that seems inaccurate. Include copies (keep the originals) of any document that supports your position and be sure to send your letter by certified mail.

Source: Federal Trade Commission, Identify Theft Resources for Consumers

The summer travel season is once again upon us. Your vacation is a great time to relax, but it’s definitely not a time to relax your efforts when it comes to protecting your identity!

Before You Leave

• Suspend Mail Delivery — Your mailbox is a prime target for thieves, especially if they find out you’re out of town.
• Lock Up Sensitive Documents — This is especially important if someone will be in your home while your gone (watering plants, etc.). It’s also great protection if someone should break in.
• Clean Out Your Wallet — Don’t carry more information than you need.

While You’re Gone

• Don’t Access Your Financial Accounts, Pay Bills or Complete Transactions on Public Computers — Public computers may not be secure and you never know if someone has installed spyware or keylogging software on them.
• Protect Your Laptop and/or SmartPhone — Thieves know that your data on these devices is more valuable than the device itself. Take steps to secure them, both physically and data wise.
• Watch Your Credit Card and Keep Your Receipts — Don’t let your card out of your sight if possible and compare your receipts to your statement when you get home.

My father refuses to use online bill payment programs. He complains about the hassle of buying stamps, writing checks, and the supposed ineptitude of a post office that can’t deliver mail on time. But he won’t even discuss online payment options; he doesn’t think they’re safe. And I know he’s not alone.

Truth is, no system is iron clad. The trick is minimizing the risks. With a paper check, literally hundreds of people can touch it—postal workers, company mail rooms, service processors, bank employees, etc. With online payment programs, the number is significantly lower—most likely around 10. Is there a risk of hacking or a data breach? Yes. But I would bet that the risk is far lower than with the hundreds of people who have access to dad’s paper check.

What do you think about the safety of online payments?

Worried you won’t finish your taxes by April 15^th? Or worse, already know you won’t? Don’t panic; there’s an easy solution: File for an extension.

Filing for an extension is simple—fill out Form 4868 and submit it to the IRS by the April 15^th tax deadline. This gains you an automatic 6-month extension to file your taxes and you don’t even have to give the IRS a reason. There is one catch though—you have to estimate your tax liability on the form and, if you think you owe, send a payment by April 15^th as well. You should aim for the payment to cover at least 90% of your real liability so that the IRS can’t charge you a late payment penalty.

Late filing fees, late payment penalties, and interest on late payments can be complicated. Check the IRS website or with a tax preparer for more detailed information.

Source: IRS.gov

Last year’s home buyers claiming either the $8,000 first-time buyer tax credit or the $6,500 long-time resident tax credit on their 2009 returns are running into a nasty surprise—they can’t e-file.

Because of the documentation requirements for claiming the home buyer credits, taxpayers who claim them on their 2009 return must file a paper return, attach Form 5405, and include a copy of the settlement statement. Buyers claiming the long-time resident credit are also advised to include five years worth of property tax records or homeowners insurance records.

Visit the IRS website for more tips on filing your 2009 taxes at www.irs.gov.

The tax filing deadline, April 15^th, is rapidly approaching. MidWest Financial is starting this Tax Filing blog series to help you with the process. Our first topic is about common mistakes which, according to IRS, people often make filling their taxes. All of them are very simple, but do happen and can delay the processing of your tax return. The IRS wants you to be aware of and avoid these annoying mistakes:

1. Make sure your social security number is entered correctly
2. Double check that your name and dependents names are spelled accurately
3. Be sure to review your math to avoid simple calculation errors
4. If you are looking to receive your refund faster by requesting direct deposit, ensure you entered your account number and your financial institution’s routing number correctly. MidWest Financial Credit Union’s routing number is: 272476556.
5. Finally, don’t forget to sign and date your forms!

Visit the IRS website for more tips on filing your 2009 taxes. Don’t forget that all MidWest Financial Credit Union members are eligible for an extra discount on filing your taxes with TurboTax Online. In order to get this discount use the TurboTax Online link on our homepage.

 Source: www.irs.gov