- Let's face it, your personal devices are targeted by cyber criminals. Even if you're only using your smart phone for routine tasks like email, social media, Googling, and banking – your personal identifiable information could be at risk. For example, fraudsters and cyber criminals often obtain sensitive information by using the following repeatable or convincing tactics: They'll use phone calls,…, So, what can you do for protection?, To keep your information secure, make sure your devices are kept safe, backed up, updated, and equipped with the latest security features. , Secure Your Family's Mobile Devices, Take steps to prevent the physical theft of your devices. Use the following tips and make sure your family members are aware of the potential threats, too!, Watch your surroundings, . When your location doesn’t feel safe, trust your judgement and keep your device somewhere secure., Keep your device with you, . Even if you're walking away for a short minute, take it with you. Don’t leave your smart phone unattended when in public, especially where it's visible to others., Know your anti-theft software, . Most popular phone manufacturers provide software to locate it, wipe it, and block it if you suspect it’s been stolen. In addition to protecting against physical theft, you can:, Choose a secure device., Different mobile devices offer different security features. Make sure to understand them up front, and don’t disable any default features. It might seem like a convenience at the time, but it could cost you later on. Use the FCC’s Smartphone Security Checker for ways to secure your mobile device based on the operating system., Keep the operating system up to date., Software updates are likely to fix vulnerabilities that attackers can take advantage of. Install them as soon as they become available or enable automatic updates. Even if automatic updates are turned on, you may have an older update if you've maxed out your phone's storage. You can avoid this trap by checking your phone's updates regularly and keeping extra space available on your device at all…, Turn on device authentication., The most secure authentication is biometric, if available, including FaceID or fingerprint scanning. Regardless, it's a good idea to turn on PIN protection for your device and multi-factor authentication for apps and accounts., Be careful which apps are installed., While you’re browsing the app store, it might seem like the first result is the best option. Check the app description, permissions, and reviews. If the app seems new, has grammatical errors in the description, poor reviews, or only a few reviews, you may want to observe caution., Back up data., You may be able to download your mobile device's data to the manufacturer’s cloud storage. This backup will preserve data in the event your device is lost, stolen, or replaced. If you're selling or junking your old device, make sure all personal data is deleted first., Use secure Wi-Fi networks., When out in public, don't use shared Wi-Fi networks that have no password protection. On public networks, cyber criminals can monitor who's using it and may be able to gain access to your personal information., Tell your family., Remember to have these important conversations with your loved ones, too. Many people target the younger and older generations with fraud and cybercrimes. You can help your family to stay informed and protected. As your trusted financial partner, we're here to help. If you're concerned that your personal or account information has been compromised, call us immediately at, 800.242.2120, . We can provide guidance and next steps to limit exposure and protect your accounts., Cybersecurity Tips, , Resources for Account Security,
- Credit can seem confusing, but it doesn’t have to be! By understanding what credit is and how scores are calculated, you can learn practical steps to establish or improve it., , Credit Reviews, Simply put, credit is trustworthiness. When businesses need a reliable assessment of your financial trustworthiness, they can check your credit score or request a credit report. For us, a standardized credit check is helpful to ensure equal credit opportunities for our applicants while minimizing the financial risk to our membership. Insurance providers, vendors, or landlords may also choose to…, Business Credit Scores by Experian® , Much like personal credit applications, most financial institutions will review an organization’s business credit during the application process for a business loan. An organization has its own credit report based on an EIN (Employer Identification Number), which is reported and scored independently from personal credit scores . Even if you have excellent personal credit and previous successful…, Experian Business Credit Score, can range from 1 to 100, with the highest score representing the lowest risk according to their analysis. To determine a business’ credit score, Experian collects and analyzes data across industries, public records, lenders, courts, collections agencies, independent sources, databases, and more. In addition to public records and industry-specific demographics, each score considers the…, Financial Stability Risk Rating, in business credit reports. This rating ranges from a low-risk rating of 1 for a business with less than a 1% risk of going into bankruptcy or financial distress in the next year to a high-risk rating of 5 if they have more than a 35% chance of distress within the year. Experian explains this score is “based on multiple risk factors including: tradeline and collections information, public filings…, keep your personal finances separate from your organization, . To increase your financial reporting and credit history, you may be able to provide payment histories from your vendors or utility providers that demonstrate your positive financial relationships. For a business, that could include listing trade references on your credit bureau accounts or asking vendors to report your payment history to a credit reporting agency. If you or your organization…, consider a, share secured credit card, , such as our Visa® Business Cash Rewards card . By utilizing and consistently paying down your secured card, you could build a favorable credit history over time and eventually may qualify for other competitive loan products. Plus, you can enjoy the same benefits whether the card is secured or unsecured. In addition to those tips, here are some reliable, guidelines for building credit, : • If you don’t have it, don’t spend it • Keep your lines of credit below 30% of the limit • Pay your bills on time or early • Use online accounts to monitor payments and ensure they’re on time • If you can pay your card down while staying on top of your bills, then pay your credit card balance in full • Avoid opening or closing too many lines of credit in a short period of…
- Understanding LLC, DBA, 501(c)3, and More, Whether your business is just starting out or undergoing a change, it can be beneficial to understand the differences between various business structures. Here’s an outline to help you get started, including introductory definitions and financial considerations. Keep in mind, this article is intended for educational purposes only. Regulations, requirements, and tax law can vary by state. For…, Business Structures 101, Sole proprietorship, – This structure is for any business that’s run by a single owner who doesn’t register as another business type. Business assets and liabilities are not separate from the sole proprietor’s personal assets and liabilities. Sole proprietors may also establish a trade name, or DBA (“Doing Business As”), to represent the organization. This is a great, low-risk way to test out your business plan…, Partnership, – Limited partnerships (LPs) and limited liability partnerships (LLPs) are simple structures for two or more people who own a business together. A formal agreement determines which partners have limited liability, which partner has unlimited liability (in the case of LPs), and how much control each partner has over the company. This structure is often useful for small businesses or startups that…, LLC, – Limited liability companies (LLCs) provide flexibility and tax benefits for one or more owners who want to maintain control over their company while limiting personal liability. Other than sole proprietorships, this is the most common structure for small businesses., Corporation, – As separate entities from their owners, corporations must follow operational guidelines and recordkeeping requirements. This business structure allows the business to be sold as stock or to other shareholders and reduces personal liability. There are several types of corporations, including: C Corps, S Corps, benefit corporations, close corporations, and nonprofit corporations. These may…, Cooperative, – This business structure is typically owned by users or members and run by a board of directors. It is a democratic enterprise (one vote per member) with open membership, generating profit for the benefit of the members. Is your business model for profit or not-for-profit? Most companies aim to generate profits. If you have a business concept that’s based on the sale of goods and services,…, Where do co-ops fit in?, Some are not-for-profit (like Visions), whereas others may operate for profit. The defining features of cooperatives are the cooperative principes, which may vary from industry to industry, but are rooted in early co-ops of the 1800s. Learn more about the cooperative principles of credit unions , which inform our business model, memberships, and more. Do you want to establish separate finances…, Your Financial Partner, We serve all kinds of organizations, big and small, from nonprofits and clubs to sole proprietorships and partnerships to LLCs and corporations, and our business experts can help you at any stage of enterprise. At startup, business specialists on our Financial Wellness team can help you lay the foundation for success. During growth or transitions, we can help you explore products, services, and…, Visions Federal Credit Union cannot open accounts for local governments or businesses/organizations that deposit public and/or municipal funds. , Organizations and/or owners must be eligible for membership. Check your eligibility at, visionsfcu.org/join, .,
