Category: Borrowing Basics

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, … Read More

January 4, 2021Borrowing Basics, Future Planning, Wallet Wins No Comments

Your Mortgage Questions Answered

Buying a house is a big step. In fact, it is typically the biggest financial a person can make in their lives. With the right information and some guidance, owning a home can be more within your reach than you think. Below, we at PEFCU answered frequently asked questions about buying a home. Q: Do I need excellent credit to get a mortgage? What does my credit … Read More

December 7, 2020Borrowing Basics No 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 … Read More

November 4, 2020Borrowing Basics 2 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 … Read More

November 2, 2020Borrowing Basics No Comments

Car Buying 101: What You Need To Know

Where to start? Who said that buying your first car would be easy? Chances are that you’ve received lots of unhelpful and conflicting advice on your way to the dealership. So, before you take that test drive, here are six car buying basics that you should know: Loan pre–approval is your most powerful negotiation tool. Get this first! If you know your approval limit and interest … Read More

July 6, 2020Borrowing Basics 3 Comments

5 Things To Know About Publix Stock Secured Loans

George Jenkins (Mr. George), the founder of Publix Super Markets, Inc., believed in investing in people. He believed that if his associates owned Publix, they would care for and continue to improve the business. When Mr. George founded Publix Employees Federal Credit Union (PEFCU), associates had the opportunity to own a Credit Union that met their … Read More

July 4, 2020Borrowing Basics No Comments

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 … Read More

July 2, 2020Borrowing Basics No Comments

Understanding Your Credit Score

Most people believe if they make all of their credit cards, car loan, and mortgage payments on time, they can expect their credit score to be great. However, focusing on your payment history alone will not give you a complete breakdown of what actually goes into your credit score. Here are five factors that determine your credit score:  Payment History: 35% Lenders want to know that you are … Read More

July 1, 2020Borrowing Basics No Comments

KNOW Before You GO: Car Shopping

There’s lots of excitement when you are shopping for a new or used vehicle. There’s the good excitement of test–driving those shiny, new cars. But there’s also the nervous excitement of making a big financial move. Whether you’re a car-buying novice or you’re a car-buying guru, we have a few tips that will calm you enough to make a cool-headed decision. Get Pre-Approved Your most important step is to get a pre-approval from the PEFCU. With a pre-approval, you’ll know how much you can spend before you go shopping and you’ll also have an advantage during dealership negotiations. Why? Because dealers know they can‘t charge you more than your pre-approved … Read More

June 27, 2020Borrowing Basics No Comments

What Is Gap and Why Do You Need It?

What is GAP? You found the perfect car – sunroof, leather seats, navigation system – the works. You couldn’t be happier. Then…you sit down with the finance person at the dealership. Loan terms get tossed around and before you know it, you’re completely lost and unsure what you’re agreeing to. That’s Why We’re Here Our goal is … Read More

June 25, 2020Borrowing Basics, Wallet Wins No Comments