6 Ways to Spend Your Stimulus Responsibly

Happy couple at home paying bills with laptop

Have you received your COVID-19 stimulus payment or are you expecting it soon? Have you started thinking about how you would spend it?

It’s tempting to think about all of the ways you could spend an extra $1,200 or $2,400 – depending your filing status and the number of dependents you claim. Before you get that list finalized, we want to give you some tips to help your money stretch as far as possible.

1. Prioritize.

Look at your bills. What are essential – rent or mortgage, car payment, utilities – and what bills are non-essential – entertainment, streaming services, unusable memberships? Make a list of what you need and what you can live without. Focus on paying the essential bills first.

2. Save. Save. Save.

Don’t miss an opportunity to pad your savings account with some of your stimulus money. It’s a one-time payment so think of your stimulus as a mini emergency fund. You may want to set aside some of the payment as “in case” money.

3. Divide and conquer.

You only get one stimulus payment, but your bills will still come monthly. If you’re currently unemployed, it’s especially important to be strategic in how you spend your stimulus payment. Take this opportunity to divide it up into smaller chunks to help cover some of the essential bills you pay each month. Also, talk to your landlord or mortgage lender, your utility company and internet service provider if you’re having trouble meeting your monthly obligations. A lot of companies are finding ways to help their customers during this unprecedented situation.

4. Don’t hoard cash.

Hoarding cash is a bad idea in general. Your money is much safer at your credit union than it is in your home. The National Credit Union Administration insures amounts up to $250,000. So, bring it to us and let us keep an eye on it. Plus, if you have a checking account that has a reward option, you could save money on purchases.

5. Pay down debt.

Paying off debt is almost never a bad financial move but think about it and prioritize carefully. Even in these uncertain times, paying off your highest-interest debt isn’t a bad idea. But, don’t feel like you need to be in a hurry to spend all your stimulus money on paying off debt. Look at your options for forbearance, payment deferrals or even the option to skip a monthly payment. If you can get some relief on your debts in the coming months, let that stimulus payment sit in your savings account.

6. Splurge Smartly.

We’re all feeling the weight of stress, grief and uncertainty as we wonder when this pandemic will end, and life will return to normal. No matter how you decide to spend your stimulus check, set aside a little bit to spend on something fun for yourself. Maybe even shop at some of your local businesses to offer support. Remember: the government is hoping these stimulus payments will put some cashflow back into the economy to stimulate it.

Over the past couple of months, we’ve faced a situation no one could’ve possibly prepared for. We know that our members have been affected in some way by the COVID-19 pandemic. While the stimulus payments will certainly help and offer some relief to most, please know that Befit Financial Federal Credit Union is here for you. We want to help you stretch your stimulus payment as far as it will possibly go. Maybe you need to skip a monthly payment or you’re looking for a relief loan. Regardless of your needs, give us a call and let us figure out how to help.

2nd Quarter 2020

Dear Members

Spring is here—and it’s much different than any of us could have imagined. Usually, spring is a time to enjoy baseball games, 5Ks, gardening and long hikes. It seems like just yesterday we were making plans for spring getaways, graduations, maybe a reunion or a barbeque. Instead, we are dealing with a pandemic.

We know many of our members are dealing with the minute-byminute changes, and we want you to know that our team at Befit is here for you. We thank you for everything you do to care for others. You and our staff are the credit union’s number one concern. Because of that, we will be changing our branch hours effective Tuesday, March 24, 2020 from 10 am to 3 pm, Monday through Friday.

In this time, stress can be high and there is uncertainty of what lies ahead. However, we want to help keep your finances manageable. We know this crisis may be impacting you and your family members. We are here to help and have many resources to guide you through these difficult times. If you find yourself in need of assistance, please reach out to us. Please remember to utilize the mobile app and online banking. You can also contact us from 10 am to 5 pm by calling us at 707-557-8900. After hours services such as your Debit, Credit Card, Mortgage and Bill Pay departments are still available.

Checkups aren’t only for your physical and mental well-being, but for your financial health as well. Schedule an appointment for a financial wellness review by emailing our own financial wellness advisor Jackie Brown, or calling us at 707.557.8900 ext. 117. Jackie can conduct this free Wellness Checkup with you by phone or online via Zoom appointments for your convenience.

Your financial needs are top priority and quite frankly, the only reason we exist. Our mission is to help you Be Happy, Be Healthy, and Be Fit Financially!

Thank you for everything you do. With gratitude,
Bobbie K Adams, President/CEO

Available Online and Mobile Banking Services

Now more than ever, we need to embrace technology. When you can’t get to a branch to manage your finances join us online. If you haven’t already, enroll in Online Banking and download your free feature-full app! We know you are busy taking care of others so we are here to take care of you. 

Doctor holding cell phone with Befit logo

With our online and mobile solutions, you’ll be able to:

  • Pay bills easily
  • Deposit checks
  • Locate surcharge-free ATMs
  • Apply for a loan
  • Opt-in for eNotice and eAlerts
  • View your other memberships and transferring between them
  • Manage your Befit Debit and Credit Cards!
  • And more!

eNotices & eAlerts

Optin for eNotices and eAlerts receive important notifications, save time and manage your finances easier!

  1. Log into Online Banking
  2. Hover over Info Center
  3. Click eAlert Subscriptions
  4. Choose the messages you would like to subscribe to

You can subscribe to receive:

  • Annual account notices
  • Balance alerts
  • ACH Deposit or Withdrawal notices
  • Loan payment due alerts

REAL ID Federal Deadline has been extended October 1, 2021.

What is required by the CA DMV?

Bring documents of proof from each section below:

  • Identity (passport, birth certificate, & etc.)
  • Social Security Number
  • Proof of residency (utility bills, credit union statements, & etc.)

Ask us for your Befit Statement Today!

real id

Ready to find the right mortgage?

Whether you are thinking about purchasing a new home or refinancing your current one, now is a great time to reassess where you are at. We’ve partnered with CU HomeLand Mortgage Services to provide you with a number of financing options. We know you are putting in extra hours these days and that your duty never ends. We can be reached 24/7 to help you when you are available. Research your options and get a quote—our site is here to guide you through the process easily. When you are ready to talk to someone, our partner and Senior Mortgage Advisor, Shelly Tucker is here for you – no matter what shift you are finishing.

Shelley Tucker

Senior Mortgage Advisor/Credit Union Division

CU Homeland a division of American Pacific Mortgage

MLO# 498720 shelleyt@cuhomeland.com Cell: 925-786-1543 Fax: 925-265-1877


Annual Meeting

Thurs, June 18 • 5pm

Vacaville Branch

Light refreshments will be provided.

Hear about the upgrades of 2019