3 Strategies for Improving Your Credit Score

Your credit score is a number you need to know. Lenders, insurance companies, and even some employers use this score to decide how reliable you are. It pays to do your best to make sure it’s as high as can be.   There are many ways to find out your credit score. As a PEFCU member, you can access your score with the FICO feature in our mobile banking app. Your FICO score, the most widely used credit scoring tool, specifically details what affects your score. If you need more details, you can order a free copy of your credit report through www.AnnualCreditReport.com. From there, you can check to see if the information on your report is correct and file a complaint if necessary.   If you’re ready to boost your score, take these three steps to…

January 19, 2021Borrowing Basics, Wallet Wins 1 Comment
3 Strategies for Improving Your Credit Score

Your credit score is a number you need to know. Lenders, insurance companies, and even some employers use this score to decide how reliable you are. It pays to do your best to make sure it’s as high as can be.   There are many ways to find out your credit score. As a PEFCU member, you can access your score with the FICO feature in our mobile banking app. Your FICO score, the most widely used credit scoring tool, specifically details what affects your score. If you need more details, you can order a free copy of your credit report through www.AnnualCreditReport.com. From there, you can check to see if the information on your report is correct and file a complaint if necessary.   If you’re ready to boost your score, take these three steps to…

Make Your Retirement Money Now

The best reason to start saving for retirement now is that your money will grow right away. The money your savings earn this year will keep growing for many years in the future. It‘s this cumulative effect of saving over time that makes today’s $1,000 contribution to your retirement plan much more valuable than the $1,000 you might sock the day before your retirement.    Why Take Responsibility for Your Retirement Early?  Imagine you just turned 25. If you were able to save just $250 per month in an investment account earning 5% APY, by the time you hit your 65th birthday, your savings would be over $370,000!  But if you waited until you were 50 years old and plan to still…

January 19, 2021Future Planning No Comments
Make Your Retirement Money Now

The best reason to start saving for retirement now is that your money will grow right away. The money your savings earn this year will keep growing for many years in the future. It‘s this cumulative effect of saving over time that makes today’s $1,000 contribution to your retirement plan much more valuable than the $1,000 you might sock the day before your retirement.    Why Take Responsibility for Your Retirement Early?  Imagine you just turned 25. If you were able to save just $250 per month in an investment account earning 5% APY, by the time you hit your 65th birthday, your savings would be over $370,000!  But if you waited until you were 50 years old and plan to still…

Building Good Financial Habits for Life 

Where do you see yourself a year from now? Hopefully, you see yourself better off financially. But resolutions and goals with no plan are bound to fail.   While it’s reported that around 73% of Americans plan to start the new year with resolutions, about 12% of them don’t even think their goals are possible. In fact, an average of 80% of us don’t meet our resolution goals.   But failing to meet your resolution doesn’t make you a failure. In fact, you’re an amazing person who might not have an amazing plan. We want to see you live your best financial life as much…

January 4, 2021Borrowing Basics, Future Planning, Wallet Wins 3 Comments
Building Good Financial Habits for Life 

Where do you see yourself a year from now? Hopefully, you see yourself better off financially. But resolutions and goals with no plan are bound to fail.   While it’s reported that around 73% of Americans plan to start the new year with resolutions, about 12% of them don’t even think their goals are possible. In fact, an average of 80% of us don’t meet our resolution goals.   But failing to meet your resolution doesn’t make you a failure. In fact, you’re an amazing person who might not have an amazing plan. We want to see you live your best financial life as much…

PEFCU Champions: Vicki

At PEFCU, we are proud of what each of our employees brings to our Credit Union. We are especially proud to showcase the employees who have contributed to our organization for years. When our employees love PEFCU enough to stay with us, it shows that we have a lot to offer.  One of those employees is Vicki Reeves, a Member Contact Center Agent.  Vicki began working at Publix Super Markets, Inc. out of high school. As her family grew, she preferred a career that would allow more of a work-life balance. This meant spending more quality time with her daughter; and her dog, which is her favorite animal. “Dogs love you unconditionally…

January 4, 2021We Are PEFCU No Comments
PEFCU Champions: Vicki

At PEFCU, we are proud of what each of our employees brings to our Credit Union. We are especially proud to showcase the employees who have contributed to our organization for years. When our employees love PEFCU enough to stay with us, it shows that we have a lot to offer.  One of those employees is Vicki Reeves, a Member Contact Center Agent.  Vicki began working at Publix Super Markets, Inc. out of high school. As her family grew, she preferred a career that would allow more of a work-life balance. This meant spending more quality time with her daughter; and her dog, which is her favorite animal. “Dogs love you unconditionally…

Q&A with Karol Molle, Branch Manager, 26 years 

At PEFCU, we are proud of what each of our employees brings to our Credit Union. We are especially proud to showcase the employees who have contributed to our organization for years. When our employees love PEFCU enough to stay with us, it shows that we have a lot to offer.  One of those employees is Karol Molle, our Altamonte Springs Branch Manager, who has been with PEFCU for 26 years. We hosted Q &A with Karol to find out why PEFCU won her heart. Check out the interview below:  Q: Why did you choose to join the PEFCU team?  A: In 1994, I had the opportunity to join the PEFCU team. I worked for 17 years with…

December 6, 2020We Are PEFCU 2 Comments
Q&A with Karol Molle, Branch Manager, 26 years 

At PEFCU, we are proud of what each of our employees brings to our Credit Union. We are especially proud to showcase the employees who have contributed to our organization for years. When our employees love PEFCU enough to stay with us, it shows that we have a lot to offer.  One of those employees is Karol Molle, our Altamonte Springs Branch Manager, who has been with PEFCU for 26 years. We hosted Q &A with Karol to find out why PEFCU won her heart. Check out the interview below:  Q: Why did you choose to join the PEFCU team?  A: In 1994, I had the opportunity to join the PEFCU team. I worked for 17 years with…

Why Shopping Local Matters

We know that COVID-19 has had an impact on our economy. When we use the word “economy,” we often think about how the national economy is affected. But what affects us the most are the impacts on our local economies and communities.   As a credit union that supports local economies, we understand how economic downturns affect each of our member’s financial lives. We know that the mom-and-pop pizzerias and bakeries are more real to you than the market value of the good because you can smell and taste the care that goes into each batch. We understand how brilliant the colors are at the farmer’s market you stroll through…

November 16, 2020Wallet Wins No Comments
Why Shopping Local Matters

We know that COVID-19 has had an impact on our economy. When we use the word “economy,” we often think about how the national economy is affected. But what affects us the most are the impacts on our local economies and communities.   As a credit union that supports local economies, we understand how economic downturns affect each of our member’s financial lives. We know that the mom-and-pop pizzerias and bakeries are more real to you than the market value of the good because you can smell and taste the care that goes into each batch. We understand how brilliant the colors are at the farmer’s market you stroll through…

Good Debt, Bad Debt – Knowing the Difference 

You might be under the impression that all debt is bad, but that isn’t true. While no one likes to owe money, some loans can help you become more financially secure.   There are good debts, and there are bad debts. Good debts are not as risky to lenders and may lead to better loan terms. Bad debts raise red flags to lenders and make them more cautious about lending you money, leading to higher interest rates. To help you better understand the differences, let’s review some examples of good and bad debts.  Unsecured Debt vs. Secured Debt  Most debt falls into two categories: secured debt and unsecured debt.   Secured debt that is “secured” by collateral, like mortgages and car loans. If you do not repay the secured debt as promised, your lender can repossess the security (your house or car) to satisfy…

November 16, 2020Wallet Wins 1 Comment
Good Debt, Bad Debt – Knowing the Difference 

You might be under the impression that all debt is bad, but that isn’t true. While no one likes to owe money, some loans can help you become more financially secure.   There are good debts, and there are bad debts. Good debts are not as risky to lenders and may lead to better loan terms. Bad debts raise red flags to lenders and make them more cautious about lending you money, leading to higher interest rates. To help you better understand the differences, let’s review some examples of good and bad debts.  Unsecured Debt vs. Secured Debt  Most debt falls into two categories: secured debt and unsecured debt.   Secured debt that is “secured” by collateral, like mortgages and car loans. If you do not repay the secured debt as promised, your lender can repossess the security (your house or car) to satisfy…

Refinancing Loans to Boost Your Savings

Let’s be honest: saving money isn’t as easy as it sounds. You create a monthly budget and try your best to follow it—then something always pops up and throws you off track. Sure, you can switch cable providers or phone plans, but those savings are usually minimal.   Want to see more progress? Then refinance your current loans. You may find you are giving half or more of your income toward monthly loan repayments. By refinancing, you can save a substantial amount of money. You can then place these funds into an emergency or retirement account so you can build your personal wealth.   What is Loan Refinancing?  Loan…

November 4, 2020Borrowing Basics 2 Comments
Refinancing Loans to Boost Your Savings

Let’s be honest: saving money isn’t as easy as it sounds. You create a monthly budget and try your best to follow it—then something always pops up and throws you off track. Sure, you can switch cable providers or phone plans, but those savings are usually minimal.   Want to see more progress? Then refinance your current loans. You may find you are giving half or more of your income toward monthly loan repayments. By refinancing, you can save a substantial amount of money. You can then place these funds into an emergency or retirement account so you can build your personal wealth.   What is Loan Refinancing?  Loan…

Renting vs. Buying – Pros and Cons

Given the high upfront costs associated with buying a home, it is no surprise most young people start asserting their independence by renting their own living space instead. As they advance in their careers, save money, get married, and start families, most eventually buy a home. On the other hand, many other homeowners are selling their houses and choosing to rent to downsize.   Whether you’ve been renting for a long time and want to buy a home or are a homeowner considering renting instead, you’re in the right place! In this article, we will discuss the pros and cons of renting and buying. Hopefully, we will help you decide which is best for you.   Renting: Pros & Cons  A common…

November 2, 2020Borrowing Basics No Comments
Renting vs. Buying – Pros and Cons

Given the high upfront costs associated with buying a home, it is no surprise most young people start asserting their independence by renting their own living space instead. As they advance in their careers, save money, get married, and start families, most eventually buy a home. On the other hand, many other homeowners are selling their houses and choosing to rent to downsize.   Whether you’ve been renting for a long time and want to buy a home or are a homeowner considering renting instead, you’re in the right place! In this article, we will discuss the pros and cons of renting and buying. Hopefully, we will help you decide which is best for you.   Renting: Pros & Cons  A common…

PEFCU Mobile Services: Mobile Deposit

Want to save time and gas while reducing your car’s “carbon footprint?” Then deposit your checks from your smartphone with the PEFCU Mobile Banking app’s Mobile Deposit feature. Mobile Deposit is a convenient feature available in our PEFCU Mobile Banking App.   Mobile Deposit allows you to photograph check(s) and electronically deposit them into your Savings or Checking Account. This service allows you to deposit up to $5000.00 dollars per day. Mobile Deposits also gives you instant access to your funds up to $600.00.  To get started:  Endorse the back of the check, including:  Required accountholder signature(s) PEFCU deposit account number The exact words “For Mobile Deposits Only at…

October 19, 2020PEFCU Perks 4 Comments
PEFCU Mobile Services: Mobile Deposit

Want to save time and gas while reducing your car’s “carbon footprint?” Then deposit your checks from your smartphone with the PEFCU Mobile Banking app’s Mobile Deposit feature. Mobile Deposit is a convenient feature available in our PEFCU Mobile Banking App.   Mobile Deposit allows you to photograph check(s) and electronically deposit them into your Savings or Checking Account. This service allows you to deposit up to $5000.00 dollars per day. Mobile Deposits also gives you instant access to your funds up to $600.00.  To get started:  Endorse the back of the check, including:  Required accountholder signature(s) PEFCU deposit account number The exact words “For Mobile Deposits Only at…