Author: PEFCU

You’ve taken vows, heard toasts made toward your lasting happiness, and even waltzed (or tripped up) onto the dance floor. Your big day has finally come and gone. You’re married!   Now the real fun begins — updating all your important documents. Doesn’t sound exciting, does it? But it’s a crucial step once you tie the knot. Here’s a list of essential documents you’ll need to update once you enter the “happily ever after” phase of your life.  Driver’s License & Social Security Card   This should be your first stop if you change your name. For social security, it’s not as simple as applying online. Instead, you must:  Obtain a certified copy of your birth certificate, marriage…

With so many investment options out there, one popular option is a certificate account. While banks often refer to these accounts as certificates of deposit or CDs, PEFCU refers to them as share certificates.   What are share certificates?  A share certificate allows you to invest your money for a specified time period (typically ranging from 1 to 5 years) of your choosing. During the term of your investment, you are not allowed to withdraw your money without incurring a penalty.   In exchange for having your money “locked–in” during your term, you’ll usually receive a higher dividend rate versus traditional savings accounts. Furthermore, share certificates offer guaranteed returns without risk since the National Credit Union Administration (NCUA) federally insures all…

Be honest. Like most people, you might have dreamed of winning the lottery, right? Sure, it’s probably not going to happen, but it’s fun to imagine all the things you could do with that lump sum payment…    Now whether you buy a ticket every now and then, it’s up to you. No judgment here. But there are some smarter ways to plan for your future.  Start Saving  Any responsible financial advisor will tell you that a savings plan is vital to your financial health and long-term security. Whatever your age, income, or financial goals, you should start growing your savings now. Putting aside a little cash for “a rainy day” is not just a good idea for the short-term but also a lifelong good habit. Even if you’re still in school, you can make…

When deciding whether to buy a home, remember that a house is an investment. Your goal could be to eventually pay off the mortgage loan early to cut monthly payments, build equity to use in the future, or sell the house once its value increases. Whatever your motivation, choosing to become a homeowner should not be taken lightly.   When calculating how much house they can afford, most people only focus on the down payment and monthly mortgage payments. Mortgage calculators found on real estate sites can be misleading because they only calculate principal and interest for your estimated payment. But other expenses, like homeowners insurance and property taxes, may also be added to your monthly mortgage payment amount.   Let’s review a few more bills to think about when deciding whether buying a home is right for you.  Homeowners Insurance  Homeowner insurance varies…

The only thing worse than being in a storm is being unprepared when it strikes. Hurricanes can damage your home and property and completely uproot your life. However, you can reduce a storm’s impact on your family, home, or business by getting ready the right way. We’re here to help prepare YOU for this hurricane season.  The best time to prepare for a storm is right now. Hurricane season officially begins June 1, and lasts until November 30, but often peaks mid-August to late October. We’ve put together some tips to help you get ready.  Get to know weather-related terms. Chances are that…