When Does a Home Equity Loan Make Financial Sense?

As a homeowner, you possess a unique financial advantage – the ability to build and utilize the equity in your property. Home equity loans offer an affordable means to finance a wide range of expenses, including home renovations, weddings, and higher education.   Nevertheless, some homeowners are hesitant to access their home’s equity. Often, people are unsure how these loans work and their potential benefits. Others aren’t positive whether a home equity loan is the best solution for their financial needs.   Before highlighting the best ways to use home equity loans, it’s helpful to begin with the basics.  What is a…

September 1, 2023Borrowing Basics No Comments
When Does a Home Equity Loan Make Financial Sense?

As a homeowner, you possess a unique financial advantage – the ability to build and utilize the equity in your property. Home equity loans offer an affordable means to finance a wide range of expenses, including home renovations, weddings, and higher education.   Nevertheless, some homeowners are hesitant to access their home’s equity. Often, people are unsure how these loans work and their potential benefits. Others aren’t positive whether a home equity loan is the best solution for their financial needs.   Before highlighting the best ways to use home equity loans, it’s helpful to begin with the basics.  What is a…

8 Financial Moves for Empty Nesters

It’s a bittersweet feeling when your children spread their wings and leave the nest. As they venture into the world to pursue their dreams, it’s time for you to take stock of your financial situation and make some strategic moves. With retirement likely right around the corner, the upcoming years are crucial to ensure you enjoy your golden years.   The following guide highlights eight essential financial steps empty nesters should consider as they embark on this next phase of their lives.  Revisit Your Budget With your children out of the house, your everyday expenses will change. From your grocery and…

September 1, 2023Future Planning No Comments
8 Financial Moves for Empty Nesters

It’s a bittersweet feeling when your children spread their wings and leave the nest. As they venture into the world to pursue their dreams, it’s time for you to take stock of your financial situation and make some strategic moves. With retirement likely right around the corner, the upcoming years are crucial to ensure you enjoy your golden years.   The following guide highlights eight essential financial steps empty nesters should consider as they embark on this next phase of their lives.  Revisit Your Budget With your children out of the house, your everyday expenses will change. From your grocery and…

4 Popular Email Scams and How to Avoid Them

Nowadays, it seems like a day doesn’t go by without someone trying to lure you into a scam. Whether through text messages, social media, robocalls, or email, fraudsters always work overtime. And just when you think you know all their moves, a new ploy lands on your lap.   Countless people fall victim to fraud annually. Your best defense to avoid these traps is to stay informed on how they operate. Today, we’re sharing four popular phishing scams guaranteed to land in your email inbox and tips on how to avoid becoming a victim.  What is Phishing?  Phishing is a…

August 24, 2023Security Center No Comments
4 Popular Email Scams and How to Avoid Them

Nowadays, it seems like a day doesn’t go by without someone trying to lure you into a scam. Whether through text messages, social media, robocalls, or email, fraudsters always work overtime. And just when you think you know all their moves, a new ploy lands on your lap.   Countless people fall victim to fraud annually. Your best defense to avoid these traps is to stay informed on how they operate. Today, we’re sharing four popular phishing scams guaranteed to land in your email inbox and tips on how to avoid becoming a victim.  What is Phishing?  Phishing is a…

7 Common Money Myths You Should Ignore

Everyone holds their own perspective when it comes to handling finances. While friends and family may offer well-intentioned guidance, not everything you hear is necessarily accurate or beneficial. Much of it can be misleading or misguided – causing you to overlook opportunities or make poor financial decisions.   We put together a list of common money myths to help right the ship on managing your money and steer clear of financial pitfalls. You’ll learn why this guidance is mistaken and the steps you can take to strengthen your financial position.  Myth #1 – You must carry a balance on your credit…

August 1, 2023Wallet Wins 1 Comment
7 Common Money Myths You Should Ignore

Everyone holds their own perspective when it comes to handling finances. While friends and family may offer well-intentioned guidance, not everything you hear is necessarily accurate or beneficial. Much of it can be misleading or misguided – causing you to overlook opportunities or make poor financial decisions.   We put together a list of common money myths to help right the ship on managing your money and steer clear of financial pitfalls. You’ll learn why this guidance is mistaken and the steps you can take to strengthen your financial position.  Myth #1 – You must carry a balance on your credit…

Unsubscribe & Save: Breaking Up with Your Subscriptions

We all have them. We know they cost a small fortune. Yet, instead of canceling subscriptions, we find ourselves subscribing to even more. Businesses across all industries have found creative ways to cash in on this profitable business model – and consumers can’t resist clicking “subscribe.”  While you and your wallet know it’s time to break up with some of your subscriptions, it’s not always as easy as it sounds. The following guide will shed light on the financial toll these monthly fees take on your budget and walk you through how to regain your hard-earned money. But first, let’s…

August 1, 2023Wallet Wins No Comments
Unsubscribe & Save: Breaking Up with Your Subscriptions

We all have them. We know they cost a small fortune. Yet, instead of canceling subscriptions, we find ourselves subscribing to even more. Businesses across all industries have found creative ways to cash in on this profitable business model – and consumers can’t resist clicking “subscribe.”  While you and your wallet know it’s time to break up with some of your subscriptions, it’s not always as easy as it sounds. The following guide will shed light on the financial toll these monthly fees take on your budget and walk you through how to regain your hard-earned money. But first, let’s…

How to Buy a Home When Rates Keep Rising

Whenever you watch the news or read the latest headlines, someone claims that homeownership is no longer attainable due to rising interest rates. But is it true? Or is it just another thing to hype in the day’s news cycle?  While interest rates are rising because of inflation, homeownership is still achievable today. Not only that, but interest rates remain historically low and affordable. The distaste for the real estate market today stems from a decade of extremely low rates – set off by the housing crisis that began in 2007. To understand what is happening in the current market,…

August 1, 2023Borrowing Basics No Comments
How to Buy a Home When Rates Keep Rising

Whenever you watch the news or read the latest headlines, someone claims that homeownership is no longer attainable due to rising interest rates. But is it true? Or is it just another thing to hype in the day’s news cycle?  While interest rates are rising because of inflation, homeownership is still achievable today. Not only that, but interest rates remain historically low and affordable. The distaste for the real estate market today stems from a decade of extremely low rates – set off by the housing crisis that began in 2007. To understand what is happening in the current market,…

Preparing for a Home Makeover

Your home is more than simply a house. It’s where you create memories with your family, entertain your friends, and relax after a hard day at work. As time passes, you want your home to keep up with your changing life and style.   Perhaps you want to finish your basement to provide more privacy for your teens. Or you want to upgrade your kitchen and back patio for entertaining guests. Maybe you’re able to work from home and want to keep your “work” and “home” separate with a designated office.   Remodeling your home is an excellent way to extend the…

July 31, 2023Future Planning 2 Comments
Preparing for a Home Makeover

Your home is more than simply a house. It’s where you create memories with your family, entertain your friends, and relax after a hard day at work. As time passes, you want your home to keep up with your changing life and style.   Perhaps you want to finish your basement to provide more privacy for your teens. Or you want to upgrade your kitchen and back patio for entertaining guests. Maybe you’re able to work from home and want to keep your “work” and “home” separate with a designated office.   Remodeling your home is an excellent way to extend the…

Top Financial Advice for Teenagers

It’s an exciting time being a teenager. You’re becoming more independent, and the time is getting closer for you to step out into the world on your own. The best thing you can do is to get a good financial head start. There are certain financial moves you can make now as a teen that will have a tremendous impact on your financial well-being. Here are some top financial tips for our teenage credit union members:  Create a Budget Creating and following a budget is one of the best skills to develop as a teenager. As you’re getting older, you…

July 10, 2023Future Planning No Comments
Top Financial Advice for Teenagers

It’s an exciting time being a teenager. You’re becoming more independent, and the time is getting closer for you to step out into the world on your own. The best thing you can do is to get a good financial head start. There are certain financial moves you can make now as a teen that will have a tremendous impact on your financial well-being. Here are some top financial tips for our teenage credit union members:  Create a Budget Creating and following a budget is one of the best skills to develop as a teenager. As you’re getting older, you…

What is a Credit Utilization Ratio & Why Does It Matter?

Building and maintaining an excellent credit score should be a top priority for every adult. A good score can create opportunities and generate significant financial savings in our world where loans and credit are commonplace. Everyone from lenders, landlords, and even some employers use your score to gauge your financial trustworthiness.   While many factors go into determining your credit score, a quick and simple way to gauge your creditworthiness is through your credit utilization ratio. Lenders use this figure to measure how much risk is involved when lending you money – ultimately, it plays a role in how much you’ll…

July 10, 2023Borrowing Basics, Wallet Wins No Comments
What is a Credit Utilization Ratio & Why Does It Matter?

Building and maintaining an excellent credit score should be a top priority for every adult. A good score can create opportunities and generate significant financial savings in our world where loans and credit are commonplace. Everyone from lenders, landlords, and even some employers use your score to gauge your financial trustworthiness.   While many factors go into determining your credit score, a quick and simple way to gauge your creditworthiness is through your credit utilization ratio. Lenders use this figure to measure how much risk is involved when lending you money – ultimately, it plays a role in how much you’ll…

7 Financial Moves to Make Your First Year of College

If starting college is your first time living away from home, then there’s probably a lot on your mind. Setting out on your own means more independence and all of the responsibilities that come with it, which can be both exciting and daunting. One thing you want to keep in mind as you’re starting the transition is your finances.   Learning to manage your money early will set you up for more financial freedom later on and lead to less stress. There are steps you can take before you leave for school to secure your finances and moves you can make…

July 10, 2023Wallet Wins 2 Comments
7 Financial Moves to Make Your First Year of College

If starting college is your first time living away from home, then there’s probably a lot on your mind. Setting out on your own means more independence and all of the responsibilities that come with it, which can be both exciting and daunting. One thing you want to keep in mind as you’re starting the transition is your finances.   Learning to manage your money early will set you up for more financial freedom later on and lead to less stress. There are steps you can take before you leave for school to secure your finances and moves you can make…