When purchasing a vehicle, there are many avenues of payment you can take. You can pay cash, finance through the dealer or a bank, or finance through your local credit union. Continue Reading…
A recent article in CU Times chronicles the upcoming renovation of America’s Credit Union Museum. Continue Reading…
Today, October 16, 2014, credit unions around the world celebrate International Credit Union (ICU) Day®. That’s 200+ million people … from 56,000 credit unions … in 101 countries joining together to celebrate their cooperative spirit.
Imagine what you could do with a little more money in your pocket… You could have it by paying less interest on your loan. Let Peach State Federal Credit Union help you discover how you can SWITCH your loan to SAVE money!
Protect Credit Unions with Your Vote
As an American, you have the great privilege of making your voice heard on issues that are important to you by voting in local, state and national elections. Your vote matters. Legislators make important decisions that have direct impact on your life. They also make decisions that impact that way your credit union functions and how it is able to serve you. That is why it is vital for you to be informed about issues that affect credit unions and candidates who believe in the value of your institution. In this way, you are able to ensure that your credit union can continue to serve your best interests now and in the future.
NAFCU: Credit Unions Generate Big Economic Benefits for ALL Americans
Credit unions are exempt from paying federal taxes but they still generate around $17 billion in benefits to Americans each year, according to The National Association of Federal Credit Unions.
In a new study, NAFCU said that credit unions directly benefit Americans – regardless of whether they are CU members or not. The study found that credit union members realized $51.5 billion in benefits over the nine-year span of the study by enjoying the lower fees and loan interest rates offered by CUs vs. banks.
Your Credit Union Has Your Back
Get the New Year off to a good start by following these tips from the National Association of Federal Credit Unions (NAFCU):
1. Create and stick to a budget – Tracking your expenses is crucial to living within your financial means. If you’d like to create a budget but aren’t sure where to start, credit unions frequently offer free financial literacy classes that can provide assistance.
2. Make savings a priority – Many credit unions offer the opportunity to open a savings account for as little as $5. Consider splitting your direct deposit between checking and savings accounts. Now’s a great time to start a vacation or holiday account to save up for special occasions, or an emergency fund. Also, take advantage of 401K plans through work as well as IRAs and CDs that credit unions offer.
3. Avoid unnecessary fees – Most credit unions still offer no-fee checking and participate in a shared branching network that gives members access to credit union locations in all 50 states. Credit unions also offer access to tens of thousands of free ATMs nationwide, including at key 7-Eleven locations.
Now that you know how to obtain your credit report, from our Credit 101 Part 1 Article it’s important to understand how the credit reporting agencies determine your credit score. According to www.myfico.com, your score is calculated from several different pieces of credit data in your report. This data is grouped into five categories, each of which is weighed differently. The five categories break down as follows:
In a recent opinion piece Credit Union Association of New York CEO William J. Mellin claimed that ending the federal income tax exemption for credit unions would cost each credit union member $10 in financial benefits. Continue Reading…
Have you written your Congressperson yet to register your disapproval of efforts by the big banks and their lobbyists to change the tax-exempt status of credit unions? The Don’t Tax My Credit Union! campaign makes it fast and easy, and they want you to do your part. Continue Reading…