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Why Every Credit Union Member Needs an Estate Plan?
Protect Your Future, Your Family, and Your Finances
Did you know that over 60% of Americans don’t have an estate plan? Many people think estate planning is only for the wealthy, but in reality, every adult—regardless of income or family situation—should have a plan in place.
What is an Estate Plan?
An estate plan is a collection of legal documents that outline your wishes in case of unexpected events. It includes:
- Will: Determines who inherits your assets and who will care for minor children.
- Power of Attorney: Authorizes someone to handle finances on your behalf if needed.
- Health Care Proxy: Ensures your medical wishes are followed.
- Living Trust: Helps avoid probate and manage assets smoothly.
Why Estate Planning Matters for Credit Union Members?
- Protect Your Loved Ones – Without a plan, your assets could be tied up in court for months or even years.
- Avoid Court Costs & Legal Fees – On average, probate costs can eat up 3-8% of your net worth.
- Ensure Your Wishes Are Followed – Naming a guardian for your children and determining healthcare decisions gives you control over your future.
How Somerville’s Credit Union Members Can Get Started?
Thanks to our partnership with Gentreo, estate planning is now affordable and easy. For just $75 the first year (a savings of 50%!) and $50 a year thereafter, you can create all your documents, upload and share them with those you love, and make updates as your life changes.
Verification Fraud Attempts
7/31/23: We have received reports of members being contacted by someone claiming to be with our Credit Union or another legitimate institution, and asking questions about account verification, passwords, and social security numbers, birthdays and other personal information.
This is a reminder to be cautious and not give your personal or account information out to anyone.
If you are not expecting a call, email, mail, or text from the Credit Union, or another company, hang up and call us directly at 617-625-0898 to ensure validity.
The threat of a scammer can be spotted by how you are contacted and the questions that are asked by the Credit Union representative.
For example, it’s not normal for us to send an email or text message, or call you, and then ask you for account information, or to click on a link to avoid any account issues.
If you call us, we will ask questions to verify your identification, however we will NEVER call you, and ask for this info.
We Have Found You a Better Check Printing Deal!
Beginning April 1, 2014, we changed check printers. In an effort to keep member costs down, we will be ordering checks from Legacy. This means that there will be a minor change in the some of the styles and possibly look of checks, and a change in the appearance of the check reorder link from our website. Any orders placed by us at SMFCU will be from Legacy, the new printer and will receive the reduced pricing. please note: If you order checks yourself from the information on the check reorder form contained in your current check order, you will not be ordering from the new printer and will not receive the price reduction. To ensure savings, let us place your next check order. Once you have received your first shipment from Legacy, you can resume ordering on your own. If you have any questions or concerns, please contact us.
Save Time and Money Contact Us Before You Hit The Road
Before you hit the road shopping for your next used vehicle, contact your credit union. We’ll give you an idea of how much financing you’ll be approved for, which can come in handy. Knowing what you can afford will save you time by leading you straight to vehicles in your price range.
In addition, we have competitive used-vehicle loan rates to save you money. Our knowledgeable staff is eager to help you. So contact us today – before you hit the road.
