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Our Mission
To provide professional financial services for the benefit of our members while reinforcing the credit union philosophy of "people helping each other."

What Can You Do About Rising Gas Costs?

The cost of gas has increased over the last several years, and has now reached prices not seen since the early 1980s. Energy analysts say that some parts of the United States will see prices higher than $4 per gallon. Unfortunately, the cost won’t be decreasing significantly anytime soon. The Energy Information Administration estimates that gas prices will be near $4.00 per gallon through 2009.

How can you counteract prices?

There are plenty of little things you can do: avoid jackrabbit starts, don’t carry unnecessary items in the trunk, and combine your geographically similar errands into one trip.

And if you spend a lot of time on the highway, reduce your speed. CNN Money reported that in a typical family sedan, every 10 miles per hour (mph) you drive over 60 mph is the equivalent of charging yourself about 54 cents per gallon more for gas. That cost is higher for less fuel-efficient vehicles.

No matter what size vehicle you drive, every 10 mph faster reduces fuel economy by about 4 miles per gallon. So think about what’s more important to you: faster travel or lower gas costs.

Will a hybrid vehicle save you money?

Yes, you will save money by purchasing less gas. However, you must keep in mind that a hybrid usually costs $2000 - $3000 more than a comparable vehicle with a gas engine. Therefore, depending on the vehicle you purchase – and the cost of gas – it can take three to seven years to recoup this cost with the money you save on gas. Some hybrid vehicles come with tax credits to help offset the higher sticker price; ask about these when you’re shopping.

Why do hybrids need gas? Because they are powered by a combination of internal combustion and an electric motor. But there’s no need to buy a huge extension cord – none of the hybrids sold in this country have to be plugged into an electric outlet to recharge. Instead, they use a process called regenerative braking to recharge their batteries. As the vehicle slows down, the brakes convert the forward motion into electric energy and re-route it to the battery. Hybrids also have an onboard alternator that charges the battery pack when the gas engine engages.

Initial worries that hybrids would be prone to expensive battery replacements have not materialized. In addition, every hybrid comes with a generous battery warranty, usually eight years or 10,000 miles.

Sincerely,


Rich Kounkel
President/CEO