Business Facts...Believe it or Not!

Check out these fun facts about some of the world's most famous business brands:

For the Extremely Voracious Reader

When a Wal-Mart store closes its doors for good, it often sits empty -- a massive echoing enclosure the size of over two football fields. In McAllen, Texas, one empty Wal-Mart store transformed into an extremely useful enterprise - the largest library in the U.S. Wonder if they offer free food samples.

The Very "Chew"sy Entrepreneur

William Wrigley Jr., the founder of the famous chewing gum company, did not set out to build one of the world's biggest gum brands. In fact, Wrigley first took over his father's soap business in the late 19th century. When he moved to Chicago, Wrigley tried to bolster the soap biz by offering a free box of baking soda. The baking soda proved more popular than the soap, so Wrigley switched gears and turned the company into a baking soda firm. Then, to spark baking soda sales, Wrigley offered packs of bubble gum with each baking soda purchase. The gum became a hotter item than the baking soda, and Wrigley decided to sell chewing gum full-time — and he made a considerable mint.

The Name Game

What is in a name? You will often find some interesting trivia, if you research the name origins of many world-famous brands:

1. The convenience store "7-11" was originally called "U Tote'm." The name changed in 1947 when the hours of operation expanded to 7:00 a.m. to 11:00 p.m.
2. The electronics company "Sharp" initially got its name from its first product: the ever-sharp pencil.
3. The soft drink "Pepsi" took its name from digestive enzyme "pepsin."

Business Tid-Bits

And finally, how 'bout some rapid-fire business trivia?

• The original name of search engine giant "Yahoo!" was "Jerry's Guide to the Worldwide Web." We think Yahoo! is a little more recognizable. 
• Warner Channel Music owns the rights to the song "Happy Birthday" -- and they sing that song all the way to the bank (or credit union), to the tune of about $1 million a year in royalties.
• The person who designed the famous Nike swoosh received a mere $35 for the artwork.
• In 1987, American Airlines carved $40,000 from its bottom line by eliminating one olive from each salad served in first class. 
• It takes six months to build one Rolls Royce. It takes 13 hours to build a Toyota.

Feel free to use these amusing business facts to impress your co-workers and friends.

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Guard Your Credit Card!

You may have read some news recently about problems with a major department store and a security breach with its credit card data. If you want to avoid being the "target" of a credit card data theft, you may want to pay attention to the scroll of helpful hints below:

1. Believe it or not ... More credit cards thefts occur in the workplace than any other location. It is not wise to leave your credit cards unattended -- even in the office.
2. Keep your PIN or security code hidden at all times. Memorize the PIN or keep it stored in a place (such as your cell phone) this is invisible to anyone else.
3. Never leave credit cards in a car. This is a very tempting target for thieves.
4. Check to see that the card is correct when the cashier hands it back to you. A busy cashier may mistakenly switch cards.
5. Always keep your credit cards on you when traveling.
6. A high percentage of credit card fraud charges occur within a couple days after a card is lost, so report a lost or stolen card ASAP.
7. Slice up and trash old and unwanted cards immediately.
8. Sign the back of your new card immediately.
9. Keep a list of all credit cards and the numbers. You will need to refer to the list if your wallet or purse is lost and you need to replace all your cards.
10. Carefully review your monthly credit card statements and check for improper charges. If you find potentially false charges, contact the card company as quickly as possible.
11. Avoid divulging your credit card number over the phone to anyone, unless you are 100 percent confident the company is reputable.
12. Many consumers make online purchases. Check to see the website is secure before you provide credit card information.
13. Be wary of multi-swipes. Sometimes a charge may go through twice if the cashier runs the card through more than once.
14. Do not provide your credit card number while on your cell phone -- especially when you are in earshot of others who can potentially listen to your information.
15. A safer alternative for online purchases are pre-paid credit cards, where funds are loaded onto the card in advance. If these cards are stolen, you are only on the hook for the amount of money you added to the card.

Hopefully, we will not see many more major credit card breaches. Meanwhile, be cautious and adhere to these and other rules to protect your credit card data.

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The Top 5 Benefits of Owning a Credit Card

Credit cards are often misunderstood. True, some users accumulate excessive debt with their plastic, their useful benefits generally outweigh the risks for responsible spenders. Many credit card benefits -- theft protection, travel assistance and credit building -- may be inconspicuous to the average consumer, even those who have used their cards for years. Check out the top five ways in which credit cards can make your life easier.

1 - Ability to build credit

Chances are you will need to borrow money at some point in your life. After all, even if your parents paid your college tuition, you will eventually purchase or rent a home, both of which require good credit. Chances are good you will borrow again to purchase a vehicle or possibly to get out of a financial jam. By establishing a consistent credit card payment record, you will build credit and thus receive lower interest rates thanks to a good credit score. 

2 - Rewards

Some credit cards offer rewards just for making purchases. These may include rewards programs that offer access to special discount shopping portals, as well as reward points for everyday purchases. Using your credit card to pay for groceries, meals and other items can be a great way to rack up tons of points to help you save for that big trip or major purchase.

3 - Roadside assistance

Many major credit card companies offer travel and emergency assistance programs. This benefit is standard on many popular cards, including some of AltaOne's Visa cards.

4 - Travel assistance

Travel assistance is standard on many cards and can be a lifesaver (maybe literally) if you’re more than 100 miles from home. Features may include emergency cash transfers, lost luggage assistance, trip planning and referrals to a consulate or embassy.

Of course, you hope to never need to use most of these benefits, but it’s nice to know they’re available.

5 - Purchase protection

Another lesser-known credit card benefit is purchase protection, where the provider reimburses the user for the cost of a purchase when broken/stolen within 90 days of its purchase. This is especially advantageous when it comes to more major purchases.

The takeaway

While credit cards often get a bad rap, there are plenty of legitimate reasons to own one. The most important is to build credit, since doing so will help you meet your financial goals by improving your ability to borrow for a home, tuition or any other major expense in the future.

You can also earn generous rewards on purchases, and you can enjoy peace of mind while commuting or traveling with roadside and travel assistance. Worldwide ATM access is a darn good perk, as well.

Talk to your credit union representative to learn more about the advantages that appeal to you. Then, remember to spend responsibly and you’ll be on your way toward cashing in on these perks for free!

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Penny Wise, Dollar Foolish

Many families look for ways to trim expenses and save money, especially around the holidays. Eat out less often ... Rent movies instead of going to the theater ... "Brown bag" your lunch ... Sometimes, however, it is simply not wise to cut too many corners. In the pursuit of a penny wise lifestyle, we may at times become dollar foolish.

How do we avoid falling into the common traps? Knowing when it's wise to save money, and when you just need to walk away from the so-called "bargain". Here are some guidelines to help you along the way.

1. Traveling for deals: Driving a few miles more for cheaper gas might seem like a good idea at first, but consider the cost in gas and time driving there. Likewise, account for travel expenses for deals at stores that are a distance away. If the "savings" do not add up, the trip may cost more in the long-run.
2. Car leases: An inexpensive alternative for some ... a bad buying decision for others. Some drivers are unable to stay within the lease mileage limits and get nailed with charges that may amount to 10 cents for every mile over the max.
3. DIY oil changes: A $20 dollar oil change might not be such a bad deal when you consider the time, cleanup time, and meager savings you get from doing it on your own. Let the professionals do it, and invest your time in other endeavors.  
4. Water filters: Buying bottled water by the case isn't expensive, but think about how much money (and back pain) you can save by installing a water filter and carrying a durable water bottle.
5. Quality shoes: Sure, you may be able to find a good deal on footwear, but the lower the price, the greater the risk of blisters and daily discomfort. Invest in quality shoes that will take you through a workday for years, rather than months.
6. Baby furniture: Cribs, car seats, high chairs and other baby items must scream "safety." You probably do not want to collect your baby furniture at the local garage sale and risk an expensive accident.
7. Day care: There may be a reason why that nanny you found in Craigslist came with such a low price tag. She may be unreliable and inexperienced. If that is the case, you may pay a lot more in the long run. Always look for reputable day care that will provide your child with the necessary care and your priceless peace of mind.
8. Long-term gym memberships: Sure, you may save on the monthly fee, but most consumers do not keep up their workout routines and end up paying the monthly gym fees, even when their backside is glued to their couch. A higher priced, short-term commitment membership might be a better option until you are sure you will stick with your plan or buy a

Frugal and thrifty doesn't always mean buying what is cheapest. Always invest in quality, and research specifications for items that you will use heavily. They will last longer and pay for themselves in the long-run. 

Need help budgeting? Try AltaOne's online personal finance manager, BudgetPro. Users of financial management tools like BudgetPro report saving an average of $100 a month by tracking spending and setting financial goals. Best of all, it's free. 

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4 Big Benefits of Personal Loans

What is on your financial plate in 2014 -- car purchase ... urgent home repair ...  vacation?  If you are considering payment options for a time-sensitive expense, a personal loan may be right for you.  

Personal loans, sometimes known as “signature loans,” are fairly simple: you borrow a lump sum of money from your credit union and pay it back in pre-planned increments. In addition to being straightforward, personal loans come with a few other notable benefits over options like credit cards, home equity loans and payday loans. Here are four of the biggest advantages:

Convenience
Personal loans are often available in more flexible amounts than larger-scale loans and credit unions can make quicker approval decisions.  Although other lines of credit, such as home equity loans, can have tax advantages, the process for obtaining them tends to be slower and more complex.  In some cases, especially if you have a pre-existing relationship with the credit union in question, it’s possible for the money to be disbursed on the same day your application is received – this can make them a strong option in emergencies.  

Fewer restrictions
The phrase “no strings attached” is frequently used.  While some sources of funding, like student loans, describe one specific item, you can take out a personal loan for virtually anything -- from holiday shopping to school expenses.  People even use personal loans as a debt reduction tool to consolidate credit card bills and other debts into a single personal loan, which can simplify and/or reduce monthly payments.  

Affordable rates
The interest rates for personal loans tend to be lower than credit card interest rates.  This makes a huge difference when considering a purchase that you plan to pay off over months or years, rather than a few weeks.  Due to a system called “risk-rated pricing” (the lender charges more for loans that put them at higher risk), a poor credit history can subject you to higher interest rates.  However, you may be less likely to be flat-out denied for a personal loan, as you might be if you apply for a credit card. 

Personalized repayment
Your credit union may have a few repayment plans available. Many plans include fixed interest rates, which lock you into a consistent monthly payment for a set time period (generally 12 to 60 months).  A big advantage here is simplicity: you’ll know exactly what to expect each month. Speak to a credit union representative to find the best repayment plan for you.

Final Word
Although it is important to approach any kind of borrowing with caution, personal loans can be a responsible way to finance urgent needs.  Their simplicity, convenience and affordable rates make it possible to get funds now and repay them in a way that works for you.  

Be sure to check out AltaOne’s special holiday loan!

Sara Collins, NerdWallet

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Make Your Money Grow

If your hard-earned cash is collecting dust in a savings account, it may be time to look at some options for growing your money. One option is to invest in certificate shares (also known as a share certificate or certificate of deposit). Not only do certificate shares deter you from digging into your treasured savings, they actually allow you to make money off of those savings. Here’s how they work.   

WHAT IS A CERTIFICATE SHARE?

A certificate share is a short-term, low risk investment product – similar to a savings account – issued by a credit union such as AltaOne. Like a savings account, certificate shares are backed by the NCUA and typically have a fixed interest rate. Unlike a savings account, a certificate share is issued for a set period of time and has penalties for early withdrawal. 

Additionally, certificate shares offer a higher rate of return than the average savings account, which means you could be making roughly 0.10-1.5% more in interest from your principal amount. In order to take advantage of the returns from a certificate share, you must not withdraw the money before the date that it matures. For example, if you withdraw funds two months after opening a six-month certificate share, you will pay a penalty, which negates some of the interest you could be accumulating. 

LEAVE IT UNTIL YOU NEED IT

If you have several short-term financial goals, you’ll want to plan ahead. The key to using certificate shares effectively is to know when you will need the money you are investing. Do not invest in a 10-year certificate share if you know you will need the money in three years. For example: You have three short-term financial goals: $5,000 for a new automobile in one year, $1,000 toward a European vacation in three years, and $20,000 future down payment on a home in five years. With these three goals in mind, you could open three separate certificate share accounts: one with a maturity date of one year, another for three years, and a third for five years. This is a smart way to invest -- matching your maturity dates with your individual goals. Once you reach the maturity date, you can choose to withdraw or "ladder" your certificate shares.

LADDERING CERTIFICATE SHARES

If you have a decent amount saved, you should consider laddering your certificate shares.  This is a great way to grow your money with a bit more freedom, since you won’t have the total amount locked in for a long time. Given a balance of $20,000 for example, you could ladder five separate certificate shares with successive maturity dates at $4,000 each. This would look as follows:

• $4,000 for one-year
• $4,000 for two-years
• $4,000 for three-years
• $4,000 for four-years
• $4,000 for five-years

After the first year, you can roll (re-invest) the $4,000 -- plus interest -- into a five-year certificate share and do the same for each amount as it matures. Since credit unions offer different rates at different times, laddering allows you to take full advantage of the better interest rates given to longer-term certificate shares. 

FINAL NOTE

In general, certificate shares are a safe, effective way to earn a higher rate of return than the average savings account. Make sure you understand the terms and conditions of your certificate share and always try to choose a maturity date based on when you will actually need the funds to avoid any unnecessary fees.

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Your Billion-Dollar Business Idea

How many times has that light bulb flickered above your head? You have come up with a brilliant idea sure to make you wealthy. Alas, most folks do not act on their stroke of genius.

Some folks actually follow through on their moment of business brilliance. Check out some of these clever examples:

• Liquidation.com has generated quite the return on investment simply by focusing on returns -- holiday gift returns, to be precise. The National Retail Federation estimates holiday gift returns approach $50 billion each year. What happens to these items? Many retailers avoid the onerous task of determining which returns are defective versus unwanted. Liquidation.com became an attractive alternative for these stores. It takes returned items from major retailers and re-sells them at considerable discounts. A large percentage of Liquidation.com buyers then turn their purchase around and sell them for a profit through sites such as eBay.
• Bed Rest Concierge is devoted to pregnant women. The company provides pre- and post-delivery services, such as baby registries, birth announcements, nursery designs, diaper/laundry services and hospital prep. Bed Rest Concierge also provides expecting moms with "pampering services" such as manicures, pedicures and facials.
• Become a "mom-trepreneur." Mother blogging has become very popular. The more well read blogs often gain commercial endorsements, which can generate significant income. For example, former child star Soleil Moon Frye ("Punky Brewster") launched a website called "The Little Seed," along with a web series called "Her Say." Frye writes about products that have helped in her role as a parent. Her following has blossomed to more than 1.4 million Twitter.
• Brian Scudamore -- a self-proclaimed high school dropout -- turned himself into the "king of junk." Scudamore's stroke of genius -- 1-800-GOT-JUNK -- generates approximately $100 million a year in revenue. Founded in 1999 in Vancouver, 1-800-GOT-JUNK simply picks up unwanted items and then donates, recycles or disposes of household items, electronic/computer equipment and general garbage items. The company now operates in the U.S. and Australia and has a fleet of 1,000 trucks.
• Do you have a bunch of stuff taking up space in your garage? A couple websites may help you to make some money off all those unused gadgets -- Loanables.com and Snapgoods.com. These sites give consumers the ability to rent -- or rent out -- just about anything, including barbecues, power tools or even their parking space.
• Family game night could get a whole lot more interesting, thanks to a creative company called the Game Crafter -- a web-to-print game publishing company. Customers may create their own board or card games. Game Crafter provides templates, instructions, videos and proofing tools. Users may purchase as many copies of the game as they would like.
• Brothers Bryan and Jordan Silverman were flush with business ideas, so they created Star Toilet Paper. The firm creates toilet paper with advertisements and coupons, and distributes the rolls to various public venues, at no cost.

If you have any brilliant money making ideas spinning around your head, do not let them fizzle away. You certainly do not want to see some other creative wizard develop your idea into a multi-million-dollar goldmine.

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