July 2017

Plan ahead for worry-free vacation financing

When you’ve been planning a dream vacation and you’re ready to find financing to make it happen, follow these 5 simple steps to making your adventure possible.

You’ll need to know where you’re going, for how long, where you plan to stay, and at least an idea of the kinds of activities you plan to pursue while you’re there. All of these will figure into your travel and accommodations expenses, as well as entertainment expenses, how much meals and incidentals will cost, and more. Once you have your trip plan outlined, you can move on to figuring out your budget.

With your trip plan in hand, make your best estimates for the costs of each part of your trip: travel getting to and from your destination (flights, cruise, etc.), any travel expenses while there (car rental, public transportation, ride sharing services), accommodations (hotels/motels/other), and daily expenses, including souvenirs, parks or attractions, and meals. If you’re traveling overseas, remember to factor in currency exchange rates. We also suggest adding in a little extra, say 10% more, for anything you’ve missed, or unexpected expenses. Every trip has them!

With this target number in mind, figure out how much you can reasonably set aside each week or month in advance of your trip, and how much total you’ll have saved by the time your departure date arrives. This may not necessarily match your target expenses for the trip. That’s where a loan comes in…

Start with how much cash you can save for the trip, subtract that from your total expenses, and you’ll have your target loan amount. So if your trip will cost $5,000, and you can save $2,000, you’ll need to borrow the difference ($3,000). Sit down with one of our loan officers early in the process, and we’ll help you figure out the best loan option for you. How do you start the financing process for a vacation? Learn more here.

Once you’re approved, congratulations—you’re going on an adventure! If you want to consider a larger loan amount or different terms next time around, just ask how we can help. We can suggest steps to get you better prepared for future loans. We want to make your vacation a reality!

Learn More

Visit our vacation financing page to learn about how financing will work. If it’s time to plan that vacation, start the application process below.

If you’re not ready to apply for a Personal Loan, and have questions, we are here to help. Call 315-735-8571 to talk about your options or make an appointment with one of our friendly and knowledgeable representatives today. Simply click on the button below, select the “Apply for a Loan” service from the menu and choose the “Personal” option.

A great way to save time and money

If you’re ready to order new checks, here’s an option for you to consider: our paperless memberBILLPAY solution. Here’s how it works.

Manual Deductions

You can pay bills directly from your online account. Simply designate a payee (it can be a person or a business), the account from which you want the funds drawn, the amount you want to send, and send. It’s as simple as that.

Auto Deductions

Have a regular bill, like rent, or your phone bill? You can schedule regular payments through memberBILLPAY. Set up your payee, the amount to pay, and when you want it sent. You can also designate how many payments you want to make, or a date through which you want the payments made. Turn it on, and every billing cycle, like clockwork, your bills get paid without any more work required from you. Just make sure your account balance is enough to cover each time your bills come due, and you’re all set. No more worry about forgetting to make payments, or late payment fees.

You’re In Control

Never paid bills electronically before? Not to worry. At any time, you can stop payments, discontinue auto deductions, or make changes to the payees, amounts, or dates. You’re still in control of your money and your accounts.

Most payments will be made electronically. For those who cannot accept electronic payment, a paper check will be cut and mailed out directly from First Source on your behalf. You never actually have to write another paper check again!

Want to learn more? Call or visit us and let us know what you need.

Ready to start using memberBILLPAY now?

Still prefer and need checks?

Online:

• Sign into memberONLINE, select "Options" in the left menu

• View "Account Actions" and select "Order Checks" in the middle of the screen

• Follow the on-screen prompts to place your order

By Phone: Call our Member Care Center at 315-735-8571 during hours of operation

In Person: Stop into any branch during hours of operation

When you’re ready to buy your recreational vehicle

Sales of recreational vehicles (RVs), campers, and trailers are growing every year as more and more people find adventure in camping and road trips. If you’re ready to find your new path, or looking to upgrade to something a little more comfortable, you’ll most likely need financing. Here are some simple steps for how to finance an RV, camper, or trailer without breaking your budget.

Buying one of these large vehicles for temporary living isn’t just about the purchase price. You’ll need to plan ahead for monthly payments with interest, fees and warranties, monthly and yearly maintenance costs, insurance, storage in the off season, and all the expenses that come with traveling, including fuel, campground fees, and perhaps a new vehicle for towing!

This first step seems obvious, but you don’t want to start by shopping for and choosing your dream vehicle until you’ve checked your budget. Start with your income and future financial plans and expectations, and see how much you can handle monthly or yearly for this purchase. Remember to include your plan for retirement (whether it’s your present or in your near future), and the financial changes that brings.

Many RV prices are inflated on the lot, so people often don’t pay sticker price. Dealers will negotiate the price with you, and there are many online resources to help in your search, and pricing strategy. So even though you can start with asking prices a little above your range, we like to recommend looking in your established range. That way, if you negotiate a lower price, consider the difference a savings, or even a bonus to add to your maintenance budget. Another great strategy is to start smaller, and if you like it—or if your family grows—plan to upgrade later.

As with any significant loan, your credit will affect whether you are approved for a loan, as well as the rate you secure. A lower score, among other factors, can result in a higher interest rate. If your rating is low, ask how we can help you improve it before you apply for a loan. You can check your own credit score ahead of time, and we’ll also check it during the loan approval or pre-approval process. A small difference in your interest rate can make a big difference in what you pay over the life of the loan.

Saving cash to put down can help in a number of ways. You’re in a stronger negotiating position on the purchase price, you reduce your loan amount, and you’ll owe less on your vehicle over time, a big help when you’re looking to trade up or sell. Not sure how you can manage your budget to save? Ask us for advice!

Among your many financing options, a Recreational Loan could be your smartest choice, depending on your wants and needs. Make an appointment to talk with us, and bring your questions. We’ll talk about your financial standing, budget, expectations, and plans, and cover the loan options and terms available to you. There are different rates for different length payoff terms (1-7 years), and your credit standing can make a difference. We can help with budget suggestions as well, and make sure you’re planning for all the expenses involved.

Camp Smarter

Start your next adventure with an Recreation Loan for an RV or Camper. Get started with the application process below.

If you’re not ready to apply for an RV Loan, and have questions, we are here to help. Call 315-735-8571 to talk about your options or make an appointment with one of our friendly and knowledgeable representatives today.