February Email Newsletter

Welcome to Basecamp, the new monthly newsletter from P1FCU! Each month, we'll bring you free tips and strategies to improve your financial well-being and insight into all the resources you have access to as a P1FCU member. We'll also include some news about what's going on at P1FCU, including branch openings, new products, and what we've been up to in our communities recently. If you want to keep receiving this newsletter, click the button below and enter your email to make sure you get next month's issue!  

banner that states let's talk buy now pay later
In the last five years, buy now, pay later services have exploded in popularity. You'll frequently see an option to break your purchase up into four payments at your online checkout through companies like Afterpay or Klarna. As a consumer, you may be asking yourself how these buy now, pay later services work. In short, buy now pay later services are short-term, interest-free financing for online purchases. It's easy to see why these services have risen in popularity in the last few years, with inflation and online shopping on the rise. That said, let's break down the pros and cons of these services. 

The Pros

The Cons

  1. Convenience
  2. No Interest Charges
  3. Instant Approval
  1. Does Not Build Credit
  2. Purchases Can Add Up
  3. Fees

If you really need something but just need to wait for your paycheck to hit, that can be a reasonable use for buy now pay later services. But if you're using buy now pay later to rationalize a large purchase you don't need, you should reconsider your buy now, pay later habits. A lot of spending and shopping habits are psychological, and choices at checkout can be rationalized a lot more if the price is broken down into smaller payments. That said, in the end, you are still paying full price for that item.  

If you want to know more about credit and how it works, be sure to subscribe! Next month's edition of Basecamp will dive into your credit score. 

woman working inside building

Meet our Champion for Change, Codi

She is committed to ensuring that her son's memory lives on and that new parents who face being life-flighted have the support they need during their hospital stay.

now open in meridian branch photo

Check out our new Meridian Branch

We're excited to see where this newest addition to the Treasure Valley takes us. Our team will be happy to see you!

Lock icon Confirmed: Passphrases are Stronger than Passwords

We know it can be frustrating to set long and complicated passwords. Our tip is to use passphrases instead of passwords. For example, a passphrase is P1FCUismycreditunion! This is much more complicated than a single word and less likely to be guessed, and a phrase might actually be easier to remember than a single word.  

Along with using passphrases, make sure to enable multifactor authentication (MFA) when possible. MFA is when you add your cell phone or email address as another layer of security and verification to your account when logging in. MFA makes it much more challenging for hackers to access your account because they shouldn't have access to that secure address or phone number.  

Think of how catastrophic it could be if a scammer got access to that one password that you use for everything! Take precautions now and set up strong passwords to keep your account safe.

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