Your Guide to a Successful PFD Season

Can you feel the excitement in the air? PFD season is upon us, and Alaska is brimming with joy! This year, you’re going to make that PFD stretch further – have more fun, reach more goals, and avoid any PFD hurdles. With our advice at your fingertips, you’ll save time, energy and funds!

Check the status of your PFD

You submitted your application ahead of the deadline and you're eagerly awaiting those extra funds. Verify your application was approved at myPFD. If you applied online, requested direct deposit and are in "Eligible-Not Paid" status as of September 21, the PFD website states your funds should be distributed on October 5!

Set deposit alerts

What’s more instantly gratifying than waking up on October 5, looking at your phone and BAM! A notification says, “$1,312 has been deposited into your Credit Union 1 account.” You won’t need to call, wait in line or even log in to Online Access to check on your PFD! Trust us, deposit alerts are the best thing ever.

Make sure you’re all set up with Online Access or the CU1 Mobile App, so you can modify your alerts and manage funds at any time. 

Set aside $$$ for taxes

Don’t forget that you'll need to claim PFD income on your taxes! Added income may also mean you owe money come tax time, so ask your tax professional for details today. You’re welcome for the heads up. :)

Set up a spending plan

With a little extra planning, you can invest PFD funds in yourself and earn an even bigger reward. Here are a few great “investment” ideas:

1. Put your PFD down toward a secured loan. These funds will act as collateral for the loan, which can help you secure a lower interest rate. Your PFD funds will be saved, and you’ll also save money on your loan! Bonus: on-time payments toward a secured loan will boost your credit score. It’s a win win!
2. Set aside some “rainy day” savings. Put your PFD into a Certificate of Deposit (CD) so you won’t be tempted to spend it on a whim. Watch your money grow at higher dividends!
3. Make a donation. You may not want to donate your entire PFD, but consider how a small chunk could make a big impact on your community. We’re fundraising for our Leading Change Partners, and the beneficiaries of these funds are helping to lead positive change across Alaska!
4. Pay down your current credit card balance. The amount you’ve charged to plastic makes up a whopping 30% of your credit score. Paying down the balance can help your score go WAY UP!

With your preparations and plans in order, you're ready to thrive this PFD season! Go out there and lay the groundwork to achieve all your financial goals.