Welcome To Making Money Prosper

At every stage in life, we all need a routine checkup for our financial health. That is why we’ve launched Making Money Prosper! This blog is dedicated to you, our PEFCU members. We’re here to help you live your best financial life by teaching you to successfully save, invest, and manage your money. Adulting can be hard–we get it! We want you to find success through all of life’s stages: like purchasing your first car, traveling the world, planning for retirement, and everything in between. At PEFCU, our goal is to educate you and your family about your personal finances…

July 6, 2020PEFCU Perks, We Are PEFCU No Comments
Welcome To Making Money Prosper

At every stage in life, we all need a routine checkup for our financial health. That is why we’ve launched Making Money Prosper! This blog is dedicated to you, our PEFCU members. We’re here to help you live your best financial life by teaching you to successfully save, invest, and manage your money. Adulting can be hard–we get it! We want you to find success through all of life’s stages: like purchasing your first car, traveling the world, planning for retirement, and everything in between. At PEFCU, our goal is to educate you and your family about your personal finances…

What to Look for When Buying Used Vehicles

When it comes time to purchase a vehicle, you have several decisions to make. You not only have to select the vehicle’s make and model, but you also have to decide if you’re going to buy a new or used car. This alone is a crucial decision and could make a significant difference over the next few years in your finances.  Let’s review the pros and cons of buying a used vehicle, and what to look for when you’re in the market for one.     Pros of Buying a Used Vehicle  Some advantages of purchasing a used vehicle include:  You’ll…

January 21, 2025Future Planning No Comments
What to Look for When Buying Used Vehicles

When it comes time to purchase a vehicle, you have several decisions to make. You not only have to select the vehicle’s make and model, but you also have to decide if you’re going to buy a new or used car. This alone is a crucial decision and could make a significant difference over the next few years in your finances.  Let’s review the pros and cons of buying a used vehicle, and what to look for when you’re in the market for one.     Pros of Buying a Used Vehicle  Some advantages of purchasing a used vehicle include:  You’ll…

Benefits of Refinancing Your Auto Loan

Are your car payments wrecking your budget without putting a dent in your loan? Are you throwing away money in interest payments each month? If so, refinancing your auto loan may be an easy solution. It’s a painless process that could keep your money in your pocket.   Let’s review what auto refinancing is and how to decide if it’s right for you.   What is Auto Loan Refinancing?   Refinancing your auto loan sounds hard, but it’s simple. When you originally bought your vehicle, you likely financed it with the dealership or some other lender. By refinancing your loan, you are just switching it from your current lender to a new lender to save money.   Why Should You Refinance?   Better Rates: You would want to refinance your auto loan to take advantage of better loan rates. If auto loan rates are…

January 14, 2025Borrowing Basics 1 Comment
Benefits of Refinancing Your Auto Loan

Are your car payments wrecking your budget without putting a dent in your loan? Are you throwing away money in interest payments each month? If so, refinancing your auto loan may be an easy solution. It’s a painless process that could keep your money in your pocket.   Let’s review what auto refinancing is and how to decide if it’s right for you.   What is Auto Loan Refinancing?   Refinancing your auto loan sounds hard, but it’s simple. When you originally bought your vehicle, you likely financed it with the dealership or some other lender. By refinancing your loan, you are just switching it from your current lender to a new lender to save money.   Why Should You Refinance?   Better Rates: You would want to refinance your auto loan to take advantage of better loan rates. If auto loan rates are…

Start the New Year Off Right: Debt Consolidation  

Ever feel like your debt is difficult to manage? You’re definitely not alone.  It’s easy to turn to credit cards to make ends meet (or even to get a bit carried away buying holiday gifts). But debt grows quickly, and dealing with all those payments, high-interest rates, and monthly statements can feel overwhelming. Fortunately, debt consolidation may offer a solution.  The New Year is the ideal time to take a look at debt consolidation — especially if you’ve gone on a holiday spending spree! When you’re ready to take control of your finances, here’s what you need to know about…

January 10, 2025Wallet Wins No Comments
Start the New Year Off Right: Debt Consolidation  

Ever feel like your debt is difficult to manage? You’re definitely not alone.  It’s easy to turn to credit cards to make ends meet (or even to get a bit carried away buying holiday gifts). But debt grows quickly, and dealing with all those payments, high-interest rates, and monthly statements can feel overwhelming. Fortunately, debt consolidation may offer a solution.  The New Year is the ideal time to take a look at debt consolidation — especially if you’ve gone on a holiday spending spree! When you’re ready to take control of your finances, here’s what you need to know about…

Crafting Financial Goals for the New Year & Beyond

New Year’s Day marks one of the most popular moments when it comes to setting goals. Resolutions allow you to start the year off with personal improvement on your mind, giving you something to strive for in the months ahead.  One of the most popular goals people set is improving their financial situation. The challenge with financial goals is that they are usually longer term, meaning it’s often difficult to stay motivated when the prize is so far away.   In this article, we’ll provide tips on how to break longer-term goals into bite-size pieces to significantly improve your odds of…

December 18, 2024Future Planning No Comments
Crafting Financial Goals for the New Year & Beyond

New Year’s Day marks one of the most popular moments when it comes to setting goals. Resolutions allow you to start the year off with personal improvement on your mind, giving you something to strive for in the months ahead.  One of the most popular goals people set is improving their financial situation. The challenge with financial goals is that they are usually longer term, meaning it’s often difficult to stay motivated when the prize is so far away.   In this article, we’ll provide tips on how to break longer-term goals into bite-size pieces to significantly improve your odds of…

One Minute Reads: Can a Car Loan Be Transferred to Another Person?

When you’re looking to transfer a car loan to someone else, it’s natural to wonder if it’s even possible. The quick answer is: sometimes, but it depends on the lender.  Many lenders do not allow direct loan transfers, as the original borrower’s credit score and financial history were assessed when the loan was granted. However, there are a few options that can work similarly:  Refinancing: The person interested in taking over the loan can apply for a new loan in their name to pay off your remaining balance. They’ll need to meet the lender’s requirements, and if approved, they’ll be…

December 17, 2024One Minute Reads No Comments
One Minute Reads: Can a Car Loan Be Transferred to Another Person?

When you’re looking to transfer a car loan to someone else, it’s natural to wonder if it’s even possible. The quick answer is: sometimes, but it depends on the lender.  Many lenders do not allow direct loan transfers, as the original borrower’s credit score and financial history were assessed when the loan was granted. However, there are a few options that can work similarly:  Refinancing: The person interested in taking over the loan can apply for a new loan in their name to pay off your remaining balance. They’ll need to meet the lender’s requirements, and if approved, they’ll be…

Should You Leave Money in Peer-to-Peer Payment Apps?

Peer-to-peer payment apps like Cash App, PayPal, Venmo, and Zelle have made sending money between parties quicker and easier than ever before. With just a few taps, you can conveniently split dinner with a friend, pay a babysitter or landscaper, or send your portion of rent and utilities to a roommate.   But when someone sends you money, is it wise to leave those funds sitting idle in your app account? Or should you move them elsewhere? Keep reading to find out how to protect your money better and earn more at the same time.    Understanding Peer-to-Peer Payment Apps   Peer-to-peer…

December 17, 2024Wallet Wins No Comments
Should You Leave Money in Peer-to-Peer Payment Apps?

Peer-to-peer payment apps like Cash App, PayPal, Venmo, and Zelle have made sending money between parties quicker and easier than ever before. With just a few taps, you can conveniently split dinner with a friend, pay a babysitter or landscaper, or send your portion of rent and utilities to a roommate.   But when someone sends you money, is it wise to leave those funds sitting idle in your app account? Or should you move them elsewhere? Keep reading to find out how to protect your money better and earn more at the same time.    Understanding Peer-to-Peer Payment Apps   Peer-to-peer…

Staying Ahead of AI-Driven Fraud: How PEFCU Members Can Stay Protected

AI has introduced exciting innovations, but it also fuels a new wave of sophisticated scams. Generative AI enables fraudsters to create highly realistic fake content, like audio and video imitations, making phishing and other scams harder to detect. This technology can replicate voices convincingly with minimal audio, even from short social media clips, posing risks for everyone.  To counter these threats, PEFCU emphasizes proactive education. Regular training helps our staff stay sharp against new tactics, and we urge members to stay alert. Here are a few essential tips:  Verify Every Request: Always confirm the identity of callers or message senders.…

December 10, 2024Security Center No Comments
Staying Ahead of AI-Driven Fraud: How PEFCU Members Can Stay Protected

AI has introduced exciting innovations, but it also fuels a new wave of sophisticated scams. Generative AI enables fraudsters to create highly realistic fake content, like audio and video imitations, making phishing and other scams harder to detect. This technology can replicate voices convincingly with minimal audio, even from short social media clips, posing risks for everyone.  To counter these threats, PEFCU emphasizes proactive education. Regular training helps our staff stay sharp against new tactics, and we urge members to stay alert. Here are a few essential tips:  Verify Every Request: Always confirm the identity of callers or message senders.…

Employment Scams: How to Identify Them & Stay Safe

As technology continues to grow and evolve, more and more of our lives move online. This trend also extends to our jobs, especially when it comes to searching for and applying for work. Unfortunately, this shift can lead to eager employment seekers unknowingly becoming targets of scams.   With the rise of online job searches and applications, there has also been a substantial increase in employment scams. Understanding how to spot these scams and knowing the steps you can take to prevent falling into fraudsters’ traps is essential.   Understanding Job Scams  A recent surge in employment scams has been circulating on…

December 2, 2024Security Center No Comments
Employment Scams: How to Identify Them & Stay Safe

As technology continues to grow and evolve, more and more of our lives move online. This trend also extends to our jobs, especially when it comes to searching for and applying for work. Unfortunately, this shift can lead to eager employment seekers unknowingly becoming targets of scams.   With the rise of online job searches and applications, there has also been a substantial increase in employment scams. Understanding how to spot these scams and knowing the steps you can take to prevent falling into fraudsters’ traps is essential.   Understanding Job Scams  A recent surge in employment scams has been circulating on…

Be a Savvy Shopper This Holiday Season  

The holiday season is upon us, and the cheerful and festive atmosphere can be infectious! Between the lights, music, food, gifts, and spending time with loved ones, it can be the most joyful time of the year. It can also be the most expensive time of the year.   That’s why it’s more important than ever to check your list – and budget – twice! Even as prices continue to rise, there are still many ways to keep your spending in check and put huge smiles on the faces of friends and family.   In this article, we’ll help you become a…

November 27, 2024Wallet Wins No Comments
Be a Savvy Shopper This Holiday Season  

The holiday season is upon us, and the cheerful and festive atmosphere can be infectious! Between the lights, music, food, gifts, and spending time with loved ones, it can be the most joyful time of the year. It can also be the most expensive time of the year.   That’s why it’s more important than ever to check your list – and budget – twice! Even as prices continue to rise, there are still many ways to keep your spending in check and put huge smiles on the faces of friends and family.   In this article, we’ll help you become a…

Mortgage Closing Costs: A Guide for Homebuyers

Buying a home is one of the greatest investments you’ll make in your lifetime. Aside from the sale price of the home, there are other expenses that many first-time homebuyers tend to overlook, such as moving costs and furnishing your new place. However, one of the most significant and misunderstood figures is mortgage closing costs.   In this article, we’ll break down mortgage closing costs, detail how much you can expect to pay, and provide ways you can save on this expense.      What Are Closing Costs?   Purchasing a home is a semi-complex process that involves a multitude of parties. Aside…

November 20, 2024Future Planning No Comments
Mortgage Closing Costs: A Guide for Homebuyers

Buying a home is one of the greatest investments you’ll make in your lifetime. Aside from the sale price of the home, there are other expenses that many first-time homebuyers tend to overlook, such as moving costs and furnishing your new place. However, one of the most significant and misunderstood figures is mortgage closing costs.   In this article, we’ll break down mortgage closing costs, detail how much you can expect to pay, and provide ways you can save on this expense.      What Are Closing Costs?   Purchasing a home is a semi-complex process that involves a multitude of parties. Aside…