Union Plus Benefits for IBEW Members

To fill the gaps in our nation's social safety net, many union members are trying to save more. The AFL-CIO and your union are on your side, working to help in every way we can. In this email, you'll find several ideas that make it easier to build your savings - and a new union benefit that will help you earn more on every dollar you save.

1. How can I save more?

If you've ever paid off a bill over time, you've got what it takes to be a successful saver. The secret is to recognize that your savings goal is at least as important as things you have to buy now. Then, boost your savings by following these 3 guidelines that have worked for other savers:
A. Remind yourself why you're saving.
Is it so you can afford to travel in retirement? So a son or daughter can go to college? So you can make a down payment on a home of your own? Once you decide on your goal, find a picture that reminds you of it. Post this image somewhere at home or at work where you'll see it often. Even make it the screen saver on your computer.

B. Make saving automatic.
Unless you have the self-discipline of a drill sergeant, this is a must. Your bank or credit union can set up automatic monthly transfers from your checking account into savings. (Tip: Schedule savings transfers right after your paycheck lands in your checking account. Otherwise, you may be tempted to cancel the transfer as bill-paying drains your balance.)

Or if your employer offers direct deposit, ask about having a specific amount deposited every pay period directly into your savings account. You never see it, so you can't spend it!

C. When you "save" money, save it.
Look for ways to squeeze out savings every day. And when you "save" money - for example, by brown-bagging instead of buying lunch - put the amount you've saved into a jar. Once a month, deposit this cash and transfer the total into savings.

A tax refund, a bonus, a raise, or an inheritance is money you haven't been needing for living expenses. So why not save all or part of it? For example, the average tax refund is currently $2,548. If you put it in a savings account now and added just $65 a month, you'd have more than $3,000 by year-end. Double your savings to $130 a month, and you'd have close to $3,500!

For specific savings ideas, read "Save By Spending Less" and "Everyday Saving Strategies".
2. How can I earn more on my savings?
The AFL-CIO and your union are pleased to announce a new benefit to help you earn more on the money you save: the HSBC Direct Online Savings Account, now paying 5.05% APY*.
With this offer for union members, you can:
Earn a top interest rate
Get 24-hour access to your savings, both online and at ATMs
Enjoy the freedom of no monthly fee and no minimum monthly balance
Benefit from the security of an account at one of the world's largest banks
Be covered by FDIC insurance to the maximum permitted by law
Get toll-free telephone support by U.S.-based service representatives
EXCLUSIVE BONUS FOR UNION MEMBERS ONLY! If you have $5,000 or more in your new savings account by September 28, 2007, you'll be rewarded with $100 - just for being a dedicated saver.
The HSBC Direct Online Savings Account is provided by HSBC Bank USA, N.A., one of your union's trusted financial partners. It rewards you with a premium interest rate because you transact most account business online - opening your account, reviewing balances, and transferring money all online eliminates paperwork and reduces overhead costs, allowing HSBC Direct to pass the savings on to you.
Build your savings by mailing in your deposits, or by transferring money online from a checking account at any financial institution
Initiate withdrawals at ATMs or online (but not by phone)
Kiplinger's Personal Finance Magazine ranked the HSBCdirect.com Online Savings Account the "Best Online Savings Account" in 2006. You deserve the best - and as a union member, you benefit from collective bargaining power to get a bonus for saving $5,000 or more.
3. How do I get started?
Easy! If you have questions, visit www.UnionPlusSavings.com or call 1-866-655-5334 toll-free. You can open an HSBC Direct Online Savings Account savings account at www.UnionPlusSavings.com by transferring as little as $1 from an account you already have.

Then, follow the 3 guidelines in this email to start saving more - and begin earning a great 5.05% APY on every dollar you save!

To find out about all of your Union Plus benefits, visit www.UnionPlus.org.

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And for all union members and their families, a $250.00 credit at closing for all loans $100,000.00 or greater!

As a member of IBEW, you don't have to join Union Plus or Union Privilege to receive the benefits listed below. As a member of an AFL-CIO union, you and your family are automatically eligible for our benefits. (Note: While most unions participate in the majority of Union Plus benefit programs, some unions elect not to offer all the programs to its members.) Are you a member of IBEW?

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