With Cheyenne’s economic climate in such a great place, no wonder you’re looking to start a business here!  Jim and Kristi have some wonderful guidance to get you started on the right path, including:  How, and where, to begin your journey An important question to ask yourself about your business right away How to decide between being a sole proprietor or an LLC What business owners need to submit to the Financial Crimes Enforcement Network (FinCEN) Tap the “play” button to listen to the episode now: Episode resources  Learn more about FinCEN Beneficial Owner Information (BOI)  Be the first to…

Bring the joy of spring cleaning into your financial house, too! Evaluate your debt load: How much do you owe, and how much are you paying the lenders in interest? Comparison shop what you’re paying in interest with what’s available now, and consider refinancing. Knock out a small debt: Although starting with the highest interest rate makes the most sense mathematically, researchers found that people are more motivated to continue with a debt-reduction plan if they knock out a small debt in its entirety rather than merely a chunk of a bigger one! Update your budget Review your payroll withholding…

A student puts fuel in his car before leaving home for college Skimmers are devices that are illegally installed on ATMs, gas pumps and any other point-of-sale terminals to capture debit and credit card information and record PINs.  The FBI estimates skimming costs financial institutions and consumers more than $1 billion a year, with some of those incidences happening right here in Cheyenne. According to law enforcement, debit card skimming grew at an unprecedented rate of 368% from 2021 to 2022, and the first half of 2023 trended even higher. So, how can you avoid having your card information stolen?…

If you’re making a (financial end-of-year) list, and checking it twice, you’re well on your way to making your next year nice. Here are 9 things to do for better finances this year. (Our tip: Commit to completing two steps each month, starting in January. By summer, you’ll be in great shape!) 1. Check your credit at annualcreditreport.com   Report any errors you find  Pay off any negative things you see, or ask for settlements Learn more about credit report best practices—and how our team can help you make the most of your credit report—here. 2. Review all of your accounts.  …

Nearly 90% of Americans say they will do some of their holiday shopping online, which can make the holiday season especially lucrative for fraudsters.  To avoid getting scammed this season, we recommend following these online shopping tips: Don’t let the “it’s available, so I have to buy it now” mindset make you a victim. The best way to avoid this is to shop local (when you can), and when you do shop online, only go to retailers you know and trust.   Don’t click on links in emails or texts to go to a store’s website. This may take you to a fake…

Members: We have been notified that a dark web carding market has released a massive dump of 1,221,551 credit cards, allowing anyone to download them for free to conduct financial fraud. The threat actors announced the credit card dump on Sunday to promote their new domains. The freely circulating file contains a mix of “fresh” cards expiring between 2023 and 2026 from around the world, but most entries appear to be from the United States. Analysts claim the cards mainly come from web skimmers, which are malicious scripts injected into checkout pages of hacked e-commerce sites.  Currently, we are working with…

Peer to Peer or Person to Person (P2P) payment services are an easy way to send funds directly from your account to another person. These services are available through several providers via websites and mobile apps.  Funds can be sent quickly often using only a phone number or email address. However, P2P transactions have risks and do not have the same consumer protections as other transactions. Unlike credit card and debit card transactions, there are no chargeback rights on P2P payment services. This means if you send someone money, even someone who has defrauded you, we may not refund your…

Here in Wyoming, most of us are familiar with snowy weather and can handle it without much thought.   However, the cyber storm that started forming just before Russia’s invasion of Ukraine—and then exploded after—is unfamiliar to most, and possibly more devastating. The attacks on Russia’s computer and communications networks by the western computer/technology community, from Microsoft to individual hackers, have shown how effective cyberwarfare can be.  There are also signs of how effective a counterattack could be.   It is easy to think that we, meaning individuals in the middle of America and small institutions like First Education, will not be…

Ten seconds out of your day could lead to hundreds of dollars in savings this year!  If you’ve got 10 seconds, why not… Unsubscribe from promo emails as soon as you receive them. Unfollow your favorite brands and influencers that sell to you.Reflect on your goals any time you’re about to make an impulse buy.Check your credit score as one measure of your financial health.Start using your debit card as a debt-avoidance tactic.Get comfortable saying “no” to invitations to expensive engagements.Choose non-brand-name items at the store.Use the library or start a book exchange.Remember that numbers, like your income and debt, don’t…

October is Cybersecurity Awareness Month: A great reminder to “Do Your Part. #BeCyberSmart.” “At First Education Federal Credit Union, we take cybersecurity very seriously,” said First Education President Jim Yates. “We believe protecting our members’ personal information is just as important, if not more important, than protecting their money.” What is Cybersecurity Awareness Month? Held every October, Cybersecurity Awareness Month raises awareness about the practice of protecting systems, networks, and programs from digital attacks.  This united effort (of which First Education is proud to be a 2021 Champion) helps maintain a safe, resilient cyberspace for everyone to use.  Cybersecurity Awareness…