October Newsletter

Earning Money with Side Hustles

As people’s lives continue to get busier and more and more services are offered to accommodate those busy lives, the opportunities to get a side hustle also increase. So what’s a side hustle? It’s generally an activity or service performed in exchange for money that is done in addition to a full-time job and often with minimal effort.

According to some sources, at least 15% of Americans have a side hustle. Some people use it to supplement their income, some to maintain a schedule that suits their needs, and others even turn their hustle into a full-time gig. There are a wide array of side hustles, from obvious to obscure:

Work With Pets
Starting a pet-based side hustle is rife with possibilities. This could include pet waste removal, pet grooming, pet walking, or even pet sitting. The barrier to entry in this field is minimal and full of potential.

Shovel Snow
It’s pretty straightforward. People generally do not like to shovel snow. They’ll pay to have someone shovel it for them, and you can easily market your services for hire on neighborhood social sites like Nextdoor.com.

Be a Friend, for Hire!
Be somebody else’s friend for a fee? Absolutely, and some gigs fetch up to $50 an hour. It’s not as strange as it may seem when you consider that many people enlist the service to become familiar with a new city, meet a new group of friends with common interests, or simply have a conversation over a cup of coffee. Check out rentafriend.com to sign up to be a friend or find a friend.

Be a Plasma Donor
Plasma is the colorless fluid in blood in which everything else is suspended, and because it only occurs naturally and cannot be synthesized, plasma donations typically garner attractive sums. Regulations and rates vary from state to state, but an average of $200 per month for only a few hours of your time and your blood is not uncommon. Moneypeach.com has good information to get you started and to find plasma donation centers nearby.

While these side hustles may seem simple enough, Bellco offers an even easier way to earn extra cash with little to no effort—Boost Checking.

Boost Interest Checking
Boost pays a higher than normal interest rate for doing many of the things you already do with a checking account. To earn the highest interest rate available, currently 2.25% APY, make at least 15 debit-card purchases per month (not including ATM transactions), have at least one direct deposit per month, and log on to our online or mobile banking at least once per month. For further information about applicable fees and terms, visit BellcoBoost.com or speak to a Bellco representative at any one of our 25 branches.

APY = Annual Percentage Yield.

How Reg. D Affects Banking

Ever wondered how certain federal regulations affect the way you bank? One great example is Regulation D (Reg. D), which provides and enforces reserve requirements for banks and credit unions in the U.S. This means that financial institutions like Bellco are required to maintain cash reserves for most transactional accounts. 

HOW THIS AFFECTS YOU
Reg. D limits the number of transfers or withdrawals you can make to six (6) per calendar month (or statement cycle of at least 4 weeks) from each savings account, with some exceptions. While this may sound restrictive, you have several options to avoid the Reg. D transaction limits. 

First, here are the two most common ways people exceed the Reg. D limit, plus simple ways to accomplish the same task without worrying about limits:

ACH Payments or Transfers (e.g., PayPal)—Set up the payment or transfer out of your checking account
Covering Overdraft From Savings Account—Apply for a line of credit to cover any overdrafts

Next, here are simple ways you can avoid being restricted to the six transfers or withdrawals per month:

In Person—Consider making these transfers and withdrawals in person at one of our convenient branches or ATMs. There are no limits associated with in-person transactions.
Plan Ahead—Make one large transfer or withdrawal instead of several smaller transactions.
Maintain Balances—Keep appropriate balances in your checking account to reduce the number of transfers you might need to cover overdrafts (if you have that set up).  Remember, you can always apply for a line of credit to cover overdrafts.
Checking Withdrawal—Withdraw your insurance, utility, or other recurring payments electronically from your checking account instead of your savings or money market account.
Checking Transfer—Set up an automatic transfer from your checking account to other designated accounts rather than your savings account.

If you have questions about Reg. D or would like to know more about your options, you can speak with a Bellco representative at any Bellco branch or by calling 1-800-BELLCO-1.

Roadside Assistance

By Allstate Roadside Services

Whether you are traveling with friends and family or enjoying some much needed alone time, road trips are a fun way to explore locales near and far. Don’t let an on-the-road issue slow you down.

This year, bring something along with you that can save you time, money, and hassle—and won’t take up space in the trunk: Signature Motor Club from Allstate Roadside Services.

Exclusive membership pricing 
o $5.75 per month for 10 miles of towing 
o $6.25 per month for 25 miles of towing 
o $7.34 per month for 100 miles of towing
Plans also include fuel delivery* of up to two gallons, jump starts, and flat tire and lockout services
Covers multiple drivers in your household in any car—including rentals** 
With just one roadside incident per year, the annual cost of your membership could pay for itself.
Continuous Updates in Real Time: Stay informed about the status of your request while watching your rescue provider approach on the map

Signing up is easy. Choose the Signature Motor Club plan that’s right for you and your family, and drive with confidence! Sign up today at Bellco.org/Roadside.

*Customer pays for the cost of gas. **Coverage includes member, one other adult, and kids aged 16–18. All plans are products of and are administered by Signature Motor Club, Inc. Subject to terms and conditions. ©2018 Allstate Insurance Company. All rights reserved.

Project Angel Heart

During October, Bellco will collect donations for Project Angel Heart, a nonprofit organization that delivers medically tailored meals to improve the quality of life for those coping with life-threatening illnesses.

For ways you can donate to this worthwhile cause, visit Bellco’s Charity of the Month page. To learn more about Project Angel Heart, visit ProjectAngelHeart.org.