Defying Deception: Protect Yourself from Financial Scams

In today’s digital world, financial predators could be lurking around every virtual corner. Scammers live to prey on our deepest fears and capitalize on our resulting panic. Whether it’s a fraudulent email claiming your account has been compromised or a phone call insisting you owe unpaid taxes, fraudsters employ the same psychological tactics to induce fear and coerce you into immediate action.   Understanding how these predators and their tactics operate is the key to protecting yourself. In this article, we’ll reveal common aspects of financial scams and how to safeguard your accounts and money.  Fear & Scams Go Hand-in-Hand  Fear…

April 18, 2024Security Center No Comments
Defying Deception: Protect Yourself from Financial Scams

In today’s digital world, financial predators could be lurking around every virtual corner. Scammers live to prey on our deepest fears and capitalize on our resulting panic. Whether it’s a fraudulent email claiming your account has been compromised or a phone call insisting you owe unpaid taxes, fraudsters employ the same psychological tactics to induce fear and coerce you into immediate action.   Understanding how these predators and their tactics operate is the key to protecting yourself. In this article, we’ll reveal common aspects of financial scams and how to safeguard your accounts and money.  Fear & Scams Go Hand-in-Hand  Fear…

The Power of Auto Preapproval

The Power of Auto Preapproval  Ready for a new ride? Whether you want a change or your current car is showing signs of wear and tear, it can be overwhelming to know where to start. You’re not alone. With so many options out there, it’s easy to feel overwhelmed. But here’s a game-changer you might not have considered: an auto loan preapproval. At PEFCU, we call this an Express Pay Draft. It’s like having a golden ticket to a car shopping paradise, giving you the freedom to explore without stressing about your budget. So, if you’re even slightly tempted by…

April 16, 2024Borrowing Basics No Comments
The Power of Auto Preapproval

The Power of Auto Preapproval  Ready for a new ride? Whether you want a change or your current car is showing signs of wear and tear, it can be overwhelming to know where to start. You’re not alone. With so many options out there, it’s easy to feel overwhelmed. But here’s a game-changer you might not have considered: an auto loan preapproval. At PEFCU, we call this an Express Pay Draft. It’s like having a golden ticket to a car shopping paradise, giving you the freedom to explore without stressing about your budget. So, if you’re even slightly tempted by…

Making the Most of Financial Windfalls

What would you do with an extra $1,000? What about $10,000? Or $100,000?   You’ve probably spent time daydreaming about what you would do if you suddenly received an unexpected financial windfall. Maybe it’s a significant work bonus, an inheritance, a lawsuit payout, or even a surprisingly large tax refund.   As you begin to envision what you could do with the extra money, it’s easy to get caught up in the excitement. Your heightened emotions can quickly get the best of you, leading to frivolous spending. However, managing financial windfalls like these wisely requires far more than impulsive decision-making. While it…

April 15, 2024Future Planning, Wallet Wins No Comments
Making the Most of Financial Windfalls

What would you do with an extra $1,000? What about $10,000? Or $100,000?   You’ve probably spent time daydreaming about what you would do if you suddenly received an unexpected financial windfall. Maybe it’s a significant work bonus, an inheritance, a lawsuit payout, or even a surprisingly large tax refund.   As you begin to envision what you could do with the extra money, it’s easy to get caught up in the excitement. Your heightened emotions can quickly get the best of you, leading to frivolous spending. However, managing financial windfalls like these wisely requires far more than impulsive decision-making. While it…

Key Benefits of Direct Deposit

Are you using direct deposit yet? If not, there’s virtually no reason not to make the switch. The term simply refers to your employer or other income source depositing your paycheck electronically into your account. This is a very secure process, and one that is being used by millions of people every day.  In fact, many people see direct deposit as one of their top money management tools. Your employer can usually help you set it up within a few minutes, and once in place, you never have to think about depositing another paper check again.  Why Direct Deposit Your…

March 29, 2024Wallet Wins No Comments
Key Benefits of Direct Deposit

Are you using direct deposit yet? If not, there’s virtually no reason not to make the switch. The term simply refers to your employer or other income source depositing your paycheck electronically into your account. This is a very secure process, and one that is being used by millions of people every day.  In fact, many people see direct deposit as one of their top money management tools. Your employer can usually help you set it up within a few minutes, and once in place, you never have to think about depositing another paper check again.  Why Direct Deposit Your…

Why You Need a Preapproval

One of the most powerful tools when it comes to buying a new or pre-owned vehicle is a preapproval. With a preapproval, you’ll have the upper hand when it comes to negotiating with dealerships, you will be protected against unnecessary add-ons, and you will stay within your budget.  What Is a Preapproval?  Nowadays, you can stop by practically any dealership and buy a vehicle without applying at your financial institution first. While this might be more convenient for some people, it could also cost you quite a bit of money.  To get preapproved, all you have to do is apply…

March 29, 2024Wallet Wins 1 Comment
Why You Need a Preapproval

One of the most powerful tools when it comes to buying a new or pre-owned vehicle is a preapproval. With a preapproval, you’ll have the upper hand when it comes to negotiating with dealerships, you will be protected against unnecessary add-ons, and you will stay within your budget.  What Is a Preapproval?  Nowadays, you can stop by practically any dealership and buy a vehicle without applying at your financial institution first. While this might be more convenient for some people, it could also cost you quite a bit of money.  To get preapproved, all you have to do is apply…

Short-Term Savings: Which Accounts Work Best?

We all have financial goals, and different goals require different tools and tactics. Whether it’s taking a well-deserved vacation or securing your golden years, how you save is just as important as how much you put aside.  For example, retirement planning relies heavily on tax-advantaged accounts and long-term investments. But what about short-term goals – those that you hope to achieve within two or three years?  Accounts for Short-Term Goals  There are a variety of accounts to help you save money. Three of the most popular and widely accessible are traditional savings, money market, and share certificate accounts.   Each option…

March 29, 2024Wallet Wins No Comments
Short-Term Savings: Which Accounts Work Best?

We all have financial goals, and different goals require different tools and tactics. Whether it’s taking a well-deserved vacation or securing your golden years, how you save is just as important as how much you put aside.  For example, retirement planning relies heavily on tax-advantaged accounts and long-term investments. But what about short-term goals – those that you hope to achieve within two or three years?  Accounts for Short-Term Goals  There are a variety of accounts to help you save money. Three of the most popular and widely accessible are traditional savings, money market, and share certificate accounts.   Each option…

Your Balance Transfer Checklist: Before & After

Credit card debt has a way of sneaking up on you. Before you know it, the balances can become a financial burden and a challenge to pay off. This is especially true if you’re managing multiple cards with different balances, payment amounts, and due dates.  Finding the right tools to alleviate debt is an essential step on your path to financial freedom. One solution that can help you in your journey is called a balance transfer. Balance transfers enable you to streamline your financial obligations into one solution – providing immediate financial savings and stress relief.   If you’re committed to…

March 28, 2024Borrowing Basics, Wallet Wins No Comments
Your Balance Transfer Checklist: Before & After

Credit card debt has a way of sneaking up on you. Before you know it, the balances can become a financial burden and a challenge to pay off. This is especially true if you’re managing multiple cards with different balances, payment amounts, and due dates.  Finding the right tools to alleviate debt is an essential step on your path to financial freedom. One solution that can help you in your journey is called a balance transfer. Balance transfers enable you to streamline your financial obligations into one solution – providing immediate financial savings and stress relief.   If you’re committed to…

Debt Consolidation: How It Works

If you’re like most, you probably have multiple reoccurring debts that must be paid off. These debts can consist of student loans, personal loans, credit cards, medical bills, and car payments. It can be hard to pay off the debts separately because each debt has a different balance, payment period, and interest rate.  Keeping track of how much you have to pay for each debt and when you have to pay it can be extremely difficult. If you find yourself in a whirlwind of loan and credit card payments, debt consolidation may be the perfect solution for you.   What is…

February 29, 2024Borrowing Basics No Comments
Debt Consolidation: How It Works

If you’re like most, you probably have multiple reoccurring debts that must be paid off. These debts can consist of student loans, personal loans, credit cards, medical bills, and car payments. It can be hard to pay off the debts separately because each debt has a different balance, payment period, and interest rate.  Keeping track of how much you have to pay for each debt and when you have to pay it can be extremely difficult. If you find yourself in a whirlwind of loan and credit card payments, debt consolidation may be the perfect solution for you.   What is…

The Benefits of Using Your Tax Refund as a Car Down Payment

It’s always a good plan to set some money aside to use as a down payment when financing a new or “new to you” car. As a general rule, you’ll want to pay 20 percent of the vehicle’s value as a down payment for a new car and 10 percent as a down payment for a used vehicle. This makes tax season an excellent time to shop for a car and use your tax refund as part of your down payment.   Below, you’ll find five reasons using your tax refund as a down payment works in your favor.  Your Down Payment…

February 29, 2024Wallet Wins No Comments
The Benefits of Using Your Tax Refund as a Car Down Payment

It’s always a good plan to set some money aside to use as a down payment when financing a new or “new to you” car. As a general rule, you’ll want to pay 20 percent of the vehicle’s value as a down payment for a new car and 10 percent as a down payment for a used vehicle. This makes tax season an excellent time to shop for a car and use your tax refund as part of your down payment.   Below, you’ll find five reasons using your tax refund as a down payment works in your favor.  Your Down Payment…

Common Tax Scams & How to Avoid Them

Common Tax Scams & How to Avoid Them  Tax season is here, and it tends to put most people on edge. Many are anxious to file their returns because they rely on the money from their tax refund. Others find it stressful to locate all their tax documents and file on time. Add in people’s fear of the IRS and making mistakes on their returns, and it creates the perfect environment for scammers.  Fraudsters feed off uncertainty, and tax time provides multiple opportunities to deceive taxpayers. Fortunately, protecting yourself can be easy with the right knowledge.   While the tactics used…

January 30, 2024Security Center No Comments
Common Tax Scams & How to Avoid Them

Common Tax Scams & How to Avoid Them  Tax season is here, and it tends to put most people on edge. Many are anxious to file their returns because they rely on the money from their tax refund. Others find it stressful to locate all their tax documents and file on time. Add in people’s fear of the IRS and making mistakes on their returns, and it creates the perfect environment for scammers.  Fraudsters feed off uncertainty, and tax time provides multiple opportunities to deceive taxpayers. Fortunately, protecting yourself can be easy with the right knowledge.   While the tactics used…