The Importance of Keeping Your Contact Information Current

Posted on May 11, 2012 by admin

 

Anytime you move or get a new phone number, it comes with a seemingly endless list of organizations that you need to inform. Whenever you change addresses, phone numbers, name, etc., it is essential to make sure you also update your information with your financial institution in particular. You may think as long as your debit card and Online Banking access works, having an updated phone number or street address isn’t vital, but that couldn’t be further from the truth!

If we don’t have a reliable means of contacting you, you could be missing out on some key personal benefits:

Security

Notre Dame FCU is committed to keeping a close eye on any potential fraud on our members’ accounts. When fraud is suspected (such as transactions from your debit card that take place outside of your normal spending patterns), the typical procedure is to block the card and then follow up you via phone to determine if fraud has occurred. By not having updated contact information, you may experience the inconvenience of having your blocked without knowing why, as well as being unaware of a potential identity thief.

Important Info

Be in the know! Notre Dame FCU wants to make sure all of our members’ dealings with us are as convenient as possible. Unfortunately there may be times when a particular product or service may be unavailable, such as in the instance of an emergency issue or system maintenance. While we try to perform these tasks during days and times that would cause the least inconvenience, sometimes it simply can’t be avoided; therefore, we give as much notice as possible in the least intrusive way possible by sending out an e-mail.

Prizes

“Congratulations, you’re the lucky winner of a $1,000 cash prize.” That’s what we could be saying to you, if we were able to reach you. There have been countless times when Notre Dame FCU has ran promotions in which members were eligible to win for doing basic everyday financial tasks (such as being signed up for eStatements or using their debit card as “credit”) and once we randomly selected a winner, we realized we had outdated phone numbers and e-mail addresses and no way to contact the winner to claim his/her prize. Another winner was picked instead. Don’t let this happen to you!

There are various quick and easy ways to update your contact information. You can stop by any of our branch locations or give us a call at 800/522-6611. You may also log into Online Banking, click “Secure Forms” and then “Update/Change Address or Phone Number.”

By Allison Boelcke Smith, eMarketing Specialist, Notre Dame FCU

Posted in Miscellaneous, Online Banking | Leave a comment

How Can I Keep My Money from Slipping Away?

Posted on May 4, 2012 by admin

As with virtually all financial matters, the easiest way to be successful with a cash management program is to develop a systematic and disciplined approach.

By spending a few minutes each week to maintain your cash management program, you not only have the opportunity to enhance your current financial position, but you can save yourself some money in tax preparation, time, and fees.

Any good cash management system revolves around the four As — Accounting, Analysis, Allocation, and Adjustment.

Accounting quite simply involves gathering all your relevant financial information together and keeping it close at hand for future reference. Gathering all your financial information — such as mortgage payments, credit card statements, and auto loans — and listing it systematically will give you a clear picture of your overall situation.

Analysis boils down to reviewing the situation once you have accounted for all your income and expenses. You will almost invariably find yourself with either a shortfall or a surplus. One of the key elements in analyzing your financial situation is to look for ways to reduce your expenses. This can help to free up cash that can either be invested for the long term or used to pay off fixed debt.

For example, if you were to reduce restaurant expenses or spending on non-essential personal items by $100 per month, you could use this extra money to prepay the principal on your mortgage. On a $130,000 30-year mortgage, this extra $100 per month could enable you to pay it off 10 years early and save you thousands of dollars in interest payments.

Allocation involves determining your financial commitments and priorities and distributing your income accordingly. One of the most important factors in allocation is to distinguish between your real needs and your wants. For example, you may want a new home entertainment center, but your real need may be to reduce outstanding credit card debt.

Adjustment involves reviewing your income and expenses periodically and making the changes that your situation demands. For example, as a new parent, you might be wise to shift some assets in order to start a college education fund for your child.

Using the four As is an excellent way to help you monitor your financial situation to ensure that you are on the right track to meet your long-term goals.

The information in this article is not intended to be tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Emerald. © 2012 Emerald Connect, Inc.

Posted in Budgeting, Cash, Saving Money | Leave a comment

How Much Do I Need to Save for Retirement?

Posted on April 27, 2012 by admin
 Many Americans realize the importance of saving for retirement, but knowing exactly how much they need to save is another issue altogether. With all the information available about retirement, it is sometimes difficult to decipher what is appropriate for your specific situation.One rule of thumb is that retirees will need approximately 80% of their pre-retirement salaries to maintain their lifestyles in retirement. However, depending on your own situation and the type of retirement you hope to have, that number may be higher or lower.

Fortunately, there are several factors that can help you work toward a retirement savings goal.

Retirement Age

The first factor to consider is the age at which you expect to retire. In reality, many people anticipate that they will retire later than they actually do; unexpected issues, such as health problems or workplace changes (downsizing, etc.), tend to stand in their way. Of course, the earlier you retire, the more money you will need to last throughout retirement. It’s important to prepare for unanticipated occurrences that could force you into an early retirement.

Life Expectancy

Although you can’t know what the duration of your life will be, there are a few factors that may give you a hint.

You should take into account your family history — how long your relatives have lived and diseases that are common in your family — as well as your own past and present health issues. Also consider that life spans are becoming longer with recent medical developments. More people will be living to age 100, or perhaps even longer. When calculating how much you need to save, you need to factor in the number of years you will spend in retirement.

Future Health-Care Needs

Another factor to consider is the cost of health care. Health-care costs have been rising much faster than general inflation, and fewer employers are offering health benefits to retirees. Long-term care is another consideration. These costs could severely dip into your savings and even result in your filing for bankruptcy if the need for care is prolonged.

Factoring in higher costs for health care during retirement is vital, and you might want to consider purchasing long-term-care insurance to help protect your assets.

Lifestyle

Another important consideration is your desired retirement lifestyle. Do you want to travel? Are you planning to be involved in philanthropic endeavors? Will you have an expensive country club membership? Are there any hobbies you would like to pursue? The answers to these questions can help you decide what additional costs your ideal retirement will require.

Many baby boomers expect that they will work part-time in retirement. However, if this is your intention and you find that working longer becomes impossible, you will still need the appropriate funds to support your retirement lifestyle.

Inflation

If you think you have accounted for every possibility when constructing a savings goal but forget this vital component, your savings could be far from sufficient. Inflation has the potential to lower the value of your savings from year to year, significantly reducing your purchasing power over time. It is important for your savings to keep pace with or exceed inflation.

Social Security

Many retirees believe that they can rely on their future Social Security benefits. However, this may not be true for you. The Social Security system is under increasing strain as more baby boomers are retiring and fewer workers are available to pay their benefits. And the reality is that Social Security currently provides only 26% of the total income of Americans aged 65 and older with at least $57,957 in annual household income.1 That leaves 74% to be covered in other ways.

And the Total Is…

After considering all these factors, you should have a much better idea of how much you need to save for retirement.

For example, let’s assume you believe that you will retire when you are 65 and spend a total of 20 years in retirement, living to age 85. Your annual income is currently $80,000, and you think that 75% of your pre-retirement income ($60,000) will be enough to cover the costs of your ideal retirement, including some travel you intend to do and potential health-care expenses. After factoring in the $12,000 annual Social Security benefit you expect to receive, a $10,000 annual pension from your employer, and 4% potential inflation, you end up with a total retirement savings amount of $760,000. (For your own situation, you can use a retirement savings calculator from your retirement plan provider or from a financial site on the Internet.)

This hypothetical example is used for illustrative purposes only and does not represent the performance of any specific investment. The estimated total for this hypothetical example may seem daunting. But after determining your retirement savings goal and factoring in how much you have saved already, you may be able to determine how much you need to save each year to reach your destination. The important thing is to come up with a goal and then develop a strategy to help reach it. You don’t want to spend your retirement years wishing you had planned ahead when you had the time. The sooner you start saving and investing to reach your goal, the closer you will be to realizing your retirement dreams.

Source: 1) Income of the Population 55 or Older, 2010, Social Security Administration, 2012.

The information in this article is not intended to be tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Emerald. © 2012 Emerald Connect, Inc. 

Posted in Retirement, Saving Money | Leave a comment

Go Green with Paperless Banking

Posted on April 20, 2012 by admin

Sure, you may hear about all of the ways to “go green” all year long, but seeing as April is Earth Month, what better time to start the process yourself? Going green means taking steps to reduce negative effects on the environment. While the benefits of going green are immense (cutting down on waste, saving energy, etc), many of the suggestions you hear are time-consuming, expensive, and frankly not realistic for many people. One of the easy ways to go green is through your finances with paperless banking and paperless statements. You’ll cut down on solid waste, save trees, and reduce energy usage at little to no effort or cost.

eStatements

eStatements are the paperless way to view account statements from Notre Dame FCU. Instead of receiving a paper monthly account statement from your credit union, your statement is stored as an electronic document inside of Online Banking. You simply log into your online account and you can view your current statement, as well as any from the past year. If you ever need a paper copy, just log in and print the statement you need. Opting out of receiving paper statements each month may seem like an insignificant step, but if every member of Notre Dame FCU received paperless statements, it would:

  • Save 39 tons of paper, or the equivalent of 272 trees
  • Reduce greenhouse gases by the equivalent of the amount of gases emitted from six cars in a year
  • Save 233,098 gallons of water
  • Save enough energy to power three homes for a year
  • Eliminate 20,041 pounds of solid waste

Plus, anyone who enrolls in eStatements by April 30 will automatically be entered to win $250! Visit our site for complete contest details.

Online Bill Pay

Paying your bills online doesn’t just save you the cost of stamps, it can also help you save the environment one monthly bill at a time! With this service, you can receive, view, and pay your bills online. This simple step can help you go green more effectively than you may think. Not only will you reduce the paper waste from the paper bill you receive, but it also cuts down on the return mailing envelopes and paper checks. 

Balance Management Tools

Using the standard paper and pen method of tracking your checking account transactions? Switch to one of the many electronic account balance management tools out there to track your spending and give up the paper check register. Notre Dame FCU offers access to your accounts with Online, Mobile, and Text Message Banking, plus apps for the iPhone and Droid.

Earth Day is Sunday, April 22 so if you’re looking to celebrate by finding a way to make an environmental impact, remember: no action is too small. Starting with paperless finances is one quick, easy way to make a difference!

By Allison Smith, eMarketing Specialist, Notre Dame FCU

Environmental impact estimates were made using the Environmental Defense Fund Paper Calculator. For more information, visit http://www.papercalculator.org.

 Related posts:

5 Ways to Go Green for Cheap

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How to Pay for College if Federal Aid Isn’t Enough

Posted on April 13, 2012 by admin

If it seems like college costs are rising at an exponentially higher rate than any other goods or services, it’s because they are. In fact, over a 10 year period, this increase is more than double the rate of inflation.  Add that to the fact that federal aid often does not cover a substantial portion of these costs, and the prospect of higher education can seem very overwhelming.

So after you have filled out the FAFSA and received your financial aid package, you may be left wondering: how do I pay for college when federal aid isn’t enough?

Scholarships

While many scholarships have March or April deadlines, there are ones out there that accept applications later. Check out the education section on your state’s official government website for a list of offered scholarships. For example, some state scholarships are offered to particular fields of study, especially public service sectors. Also, ask the college you plan on attending what types of scholarships they offer. Many schools offer scholarships in which high academic performers from out of state only have to pay in-state tuition prices. It doesn’t hurt to ask about your options – this is your future, after all!

Work Study

When you receive your financial aid award letter (click here for help understanding your financial aid award letter), it will list whether or not you were awarded federal work study. Even if you aren’t awarded federal work aid right off the bat, ask your college if you can be put on their waiting list in case more funding becomes available. If your income level excludes you from being eligible for federal work study, ask your school about other on-campus jobs that aren’t federally funded. The schedules are often more flexible than other part-time jobs, plus the location couldn’t be more convenient!

Tuition Repayment Plans

Contact your school’s financial aid department to see if they offer tuition repayment plans. This is a short-term loan that typically divides your tuition payments into 12 equal monthly payments (or whatever the school’s terms are) that you or your parents pay directly to the school while you’re attending. There may also be little to no fees or interest with these types of plans. Not all schools offer tuition repayment plans, but if yours does, it may be a good solution if tuition is affordable over the course of a year but not as a lump sum.

STAR Loan

After you’ve exhausted all of your other options to pay for college, then look into a private student loan to pay for college. Notre Dame FCU offers our private, non-government STAR Loan to help you bridge the gap between the amount of federal aid and other college financing options you receive, and the true cost of college. Our STAR Loan has no loan fees, three (3) flexible repayment options, and a low variable rate. Learn more and apply for a STAR Loan today!

 

Notre Dame FCU recommends using the STAR Loan as a supplemental funding source only after exhausting all other opportunities available from federal student loans, education grants, and scholarships. As always, taking on debt for any reason should be done deliberately and only for amounts needed.  

By Allison Smith, eMarketing Specialist, Notre Dame FCU

 

 

References:

http://trends.collegeboard.org/downloads/college_pricing/PDF/Trends_in_College_Pricing_2011_Tuition_Fees_Over_Time.pdf

http://www.businessinsider.com/the-next-bubble-is-it-time-to-cap-college-tuition-2012-3

http://www.ndfcu.org/home/loans/student/private

Posted in College, Student Loans | Leave a comment

Bridging the Gap: A Message from Tom Gryp, President & CEO

Posted on April 6, 2012 by admin

These are challenging times for families – it can be difficult just to make ends meet. That challenge is magnified when you have a child entering or attending college.

Colleges and universities are doing their best to keep costs down, but educational costs continue to rise. Compounding the problem is that scholarships, grants and other types of awards never seem to cover the entire cost of attendance. Once these “free money” options are exhausted, parents and students oftentimes must look to the government for federally-guaranteed student loans.

This is the point when the “shock and panic” sets in for most families. Families discover that even after adding the federally-guaranteed student loans to the scholarships, grants, etc., they STILL fall short of what is actually needed. The difference between college-related expenses and the result of your FAFSA calculation is usually a financial “gap” – the amount you are responsible for paying on your own.

Ouch! That “family responsibility” number can be staggering, and also overwhelming, when you consider that you will need to pay it each year the student is in school!

What can you do? Well, that’s where Notre Dame FCU can help bridge the gap. We offer a private STudent Alternative Resource (STAR) Loan. Private means is that it is not a government program, but instead, while in school, your student will be faced with what could be a major obligation after graduation. Our STAR Loan offers a low variable interest rate, three flexible payment options, and terms up to 15 years. Plus, our STAR Loan includes the added benefit of free debt forgiveness.*

When selecting a college, be very realistic about what your child can afford. Is it worth the potentially tens of thousands of dollars more in student loans to attend a private versus state school? Also be sure to determine whether the type of degree being pursued is capable of generating the salary needed post-graduation to pay back the student loans and support the graduate’s desired lifestyle.

Although this subject matter may seem direct, it is extremely important to consider when balancing educational goals against financial position. As a parent with a child attending a private university, this topic hits very close to home for me. These are the same issues and questions our family struggles with each year when the tuition bill arrives. The good news is that our daughter is now a junior with only one more year to go! From one parent to another, I wish you, “Good Luck,” and want you to know that we’re here for you when you need us.

By Tom Gryp, President & CEO, Notre Dame FCU

 

Posted in Message from the President/CEO, Student Loans | Leave a comment

How to Understand Your Financial Aid Award Letter

Posted on March 30, 2012 by admin

When you start your journey to learn how to pay for college, the number one piece of advice you tend to hear is, “Fill out the FAFSA.” So, what comes next? The answer is: an often-confusing and difficult to decipher financial aid award letter from each school you applied to, telling you what financial aid you are eligible to receive. You then either accept or decline each specific award offer.

The vast array of information can be daunting, but if you know how to understand your financial aid award letter, you’ll be able to ensure you accept the amount you need to cover college costs without signing yourself up for a lifetime of debt.

-Costs and Contributions

There are two very important sets of abbreviations you will see on your award letter: COA and EFC. COA, or Cost of Attendance, is the total amount of going to a particular college (tuition, lab fees, room and board, etc), and EFC, or Expected Family Contribution, is the amount you and your parents have deemed to be able to afford to pay toward college costs (based on the information you provided in your FAFSA). The difference between your COA and EFC is what you may qualify for in financial aid.

-Free Money

Is there really such a thing as free money? Well, scholarships and grants may be the closest things! These are the first things to look for and accept on your award letter because they do not require repayment. One of the most common federal grants is the Pell Grant, which is based on income and has a maximum limit of $5,500.

-Work for It

After you’ve accepted any free money you’re eligible for, next take a look at the federal employment aid and see if you’re eligible. Federal employment aid, more commonly referred to as work study, is income-based aid that allows you to work for your college and be paid through federal funding. You may not make that much over minimum wage, but the schedule tends to be more flexible than many other part-time jobs. Federal work study aid does not have to be paid back.

-Pick the Right Loans

After you’ve read over your financial aid award letter and selected all of the ways to pay for college that don’t require repayment, then move on and take a look at student loans if you need additional funds to cover college costs. Student loans MUST be repaid, and aren’t even dischargeable in bankruptcy, so always act carefully and only apply for student loans in the amount you NEED, even if you qualify for more.

Notre Dame FCU recommends exhausting all of the federal student loans you qualify for first. Federal student loans require repayment, but tend to have a lower interest rate and more flexible terms than private student loans. Federal student loans you may qualify for include:

  • Perkins Loan: With eligibility based on income, this federal loan has a low 5% interest rate and limits of $5500 per year for undergraduates (for a total limit of $27,500). It is subsidized, meaning the government pays for the interest on it while you’re in school for at least part-time status.
  • Stafford Loans: These type of federal loans are available in both subsidized and subsidized. Subsidized Stafford loans are based on income and currently have a low interest rate (3.4%) for undergraduates. The amount limits vary based on factors, such as if you’re dependent on your parents. Visit the official Stafford Loan federal website for more information on these limitations.

If your family income exceeds the requirements for subsidized Stafford loans, your next best option is an unsubsidized Stafford loan, which is not based on income and currently has a fixed 6.8% interest rate. (This loan may or may not be on your financial aid award letter, depending on how your school operates). Interest does accumulate while you’re in school and is not paid by the government, so you can either pay on it while you’re in school to prevent it from increasing your total loan amount balance or wait until you graduate.

 

Financial aid award letters can be confusing, especially since each college’s may look different from others. Many award letters contain confusing abbreviations for the loans, so you may not even know what you’ve won. Remember: never accept anything on your financial aid award letter without knowing exactly what it is. If you have questions, don’t be afraid to contact the college’s financial aid office – it’s what they are there for.

 

By Allison Boelcke Smith, eMarketing Specialist, Notre Dame FCU

 

References:

U.s Department of Education, “Student Aid on the Web” http://studentaid.ed.gov/PORTALSWebApp/students/english/campusaid.jsp

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5 Ways to Keep Your Spending On Track

Posted on March 23, 2012 by admin

When was the last time that you ate at McDonald’s? Big Mac, french fries…Would I like an apple pie?  Sure, go ahead and throw that in too!

Did I use my debit card to pay for it? C’mon – everybody does it! It’s easy, quick, and merchants love it as well!  Why?  Because on average you spend 12-18% more on purchases when you use “plastic”, according to the Dave Ramsey’s The Money Answer Book.

An executive from the Merchant Services company that set McDonalds up to take credit cards has been quoted as saying “When an establishment accepts credit cards, the average ticket size goes up. We anticipate a 40% increase in the average ticket size…”

A general consensus is often that using cash “hurts” more.  You feel the sting more when you have to physically hand over the cash and may think twice about the necessity of the purchase.  Here are some more tips for keeping your spending under control:

 1.       Use a cash envelope system.

When you decide how much you are going to spend on groceries, for example, withdraw the cash and put it in an envelope marked “FOOD” and then only spend what is in that envelope on food. Never spend anything on food that does not come from that envelope. Good cash envelope categories include Gas, Food, Entertainment, and Salon.

 2.       Use your debit  card for big expenses.

When you have saved the total amount on your debit card and preplanned for that appliance or furniture purchase, you may be less likely to overspend than if you just went to the store with a credit card with an available limit above your budgeted amount. You may have more motivation to pay for a tangible item at the time of purchase, rather than a credit card bill that arrives after the intial excitement of the purchase wears off.

 3.       Pay attention!

Look at the cost of each item that you are buying instead of just at the total bill. When you pay for something with a card, it is easy to not look at the cost of the little items making up the big bill.

 4.       Use FinanceWorks.

FinanceWorks, inside of Notre Dame FCU’s Online Banking, is a great way to categorize and keep track of your expenses so that you do not spend more than you have budgeted.

 5.       Use the app.

I am a big fan of Notre Dame FCU’s Mobile Banking Smartphone apps.  Available for both the iPhone and the Android, it is a great way to watch that spending.

 

As Dave Ramsey says, “Personal finance is 80% behavior. You need to cut out habits that make you spend more.” These tips can help you control your spending, so you can be one step closer to achieving your financial goals.

 

By Kathy Hoffa, Manager of Organizational Training Initiatives, Notre Dame FCU

 

References:

http://www.daveramsey.com/article/the-truth-about-credit-card-debt

Posted in Budgeting, Cash, Credit Cards, Debit Cards, Saving Money, Shopping | Leave a comment

Unforgettable Birthdays

Posted on March 16, 2012 by admin

Birthdays may seem less important as you grow older. They may not offer the impact of watershed moments, such as getting a driver’s license at 16 and voting at 18. But beginning at age 59, there are several key birthdays that can affect your tax situation, health-care eligibility, and retirement benefits.

59½ — You can start taking penalty-free withdrawals from IRAs and qualified retirement plans, provided certain conditions are met. Ordinary income taxes generally apply to these distributions. (Withdrawals taken prior to age 59½ are subject to a 10% federal income tax penalty.)

62 — You are eligible to start collecting Social Security benefits, although your benefit will be reduced by up to 30%. To receive full benefits, you must wait until “full retirement age,” which ranges from 65 to 67, depending on the year you were born.

65 — You are eligible to enroll in Medicare. Medicare Part A Hospital Insurance benefits are automatic for those eligible for Social Security. Part B Medical Insurance ­ben­efits are voluntary and have a monthly premium. To obtain ­coverage at the ­earliest possible date, you should generally enroll about two to three months before turning 65.1

70½ — You must start taking minimum distributions from most tax-deferred retirement plans or face a 50% penalty on the amount that should have been withdrawn. Annual required minimum distributions are calculated according to life expectancies determined by the federal government.

Source: 1) Medicare & You 2011, U.S. Department of Health and Human Services

The information in this article is not intended to be tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor.

This material was written and prepared by Emerald. © 2011 Emerald Connect, Inc.

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The Importance of a Cover Letter In Your Job Search

Posted on March 9, 2012 by admin

An effective cover letter can increase your chances of getting noticed in a pile of applications.

It is a weekday morning and I am pouring over cover letters attached to resumes for a particular position that we are recruiting for in our company. As I am searching for particular skills and experience, I am tossing aside the resumes that have no cover letter. Why, you may ask?

Everyone who sends out a resume needs a cover letter. Even if the cover letter never came up in conversation or wasn’t mentioned in an advertisement, it’s expected that you will write one.

It is regarded as a sign of laziness (sorry about that) not to send out a cover letter, much less a letter that is not tailored to our specific company. Previous to “computer” days maybe you could get away with a generic form cover letter you send to all jobs you apply for. But in this day and age, when there are many looking for positions, the “right” cover letter may open doors to the interview that you so covet!  

Yes, a cover letter gives you another chance to emphasize what you have to contribute to the company or organization. Don’t give the person screening the resumes a second to entertain the thought: “But how can this person help US?” Your cover letter will answer that question in your own words. Your resume will also answer that question but in a somewhat more rigid format.

So what makes a great cover letter? I did some research from professional recruiters and this is their list, so take good notes!

  1. No spelling or typing errors. Not even one.
  2. Address it to the person who can hire you. Address the letter to that person. Be sure the name is spelled correctly and the title is correct. A touch of formality is good too: address the person as “Mr.,” “Ms.,” “Mrs.,” “Miss,” “Dr.,” or “Professor.” (Yes, life is complicated.)
  3. Write it in your own words so that it sounds like you–not like something out of a book. We employers are looking for knowledge, enthusiasm, and focus.
  4. What about those grammar errors? Please avoid spelling errors and grammatical mistakes. If you need a little help with grammar (do they still teach grammar?)–check out the classic work on simple writing, Strunk & White’s Elements of Style, published in 1918 and now online. A good place to begin is “Chapter 5: Words and Expressions Commonly Misused.”
  5. Show that you know something about the company and the industry. This is where your research comes in. Don’t go overboard–just make it clear that you didn’t pick this company out of the phone book. You know who they are, what they do, and you have chosen them!
  6. Use terms and phrases that are meaningful to the employer. (This is where your industry research and networking come in.) If you are applying for an advertised position, use the requirements in the ad and put them in BOLD type.

Well, there you have it – six easy rules for writing a great cover letter. If you follow these rules from the experts, see how many doors open for you!

By Karen Moscato, Vice President of Human Resources, Notre Dame FCU

 

 

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