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Credit cards! Can’t live with them, can’t live without them. According to the latest report by the Federal Reserve, there’s a whopping $790 billion in credit card debt in the U.S. On the flip side, though, opening credit cards and managing them responsibly is crucial to establishing your credit history, which impacts your eligibility and rates for large, low-interest loans.
Here’s all you need to know about credit cards.
Read MorePersonal loans, sometimes called unsecured loans, are loans that allow flexible use, offer short- to moderate-term repayment options and quick funding. Their versatility and convenience make them a popular choice for borrowers of every financial standing. Let’s take a deeper look at personal loans, how they work, and their pros and cons.
Read MoreAs a credit union member, you can expect to have a much more rewarding and meaningful experience. Because credit unions are member-owned and not-for-profit, they are more attuned to the needs of their members and are not driven by investors or their bottom line.
Let’s take a look at how having your checking account at a credit union differs from using a bank for the same purpose.
Read MoreAs you pay down your first mortgage or the value of your home increases, you develop equity. When you have equity built up in your home, borrowing against it with a home equity loan is a great way to tap into the money you need most. Many people take out a home equity loan to finance home improvements, pay for their child’s college education, cover unforeseen medical costs, and many other purposes.
Here’s all you need to know about home equity loans:
Read MoreMembers Choice is known for its exceptional member service, financial recommendation, and welcoming environment. Founded in 1932 in Ashland, Kentucky, the organization is committed to growing its membership and concentrating on strategic goals, including hiring one new strategic leader and aligning the leadership team for growth.
Read MoreFor most people, buying a home is the most significant financial transaction of their lifetime. Therefore, if you’re in the market for a new home, it’s best to learn all you can about home loans and how they work before you get too deep into the process.
Here are some things you may not know about home loans:
Read MoreWho needs a budget anyway? If you’re always wondering how you’ll pay the next bill, feel guilty when you indulge in overpriced treats, and can’t find money to put into savings, you probably need a budget. A budget is not a magic potion that will automatically solve your money problems but it will help you gain financial awareness. That, in turn, will help facilitate more responsible decisions.
Read MoreIndividual Americans spend hundreds of dollars a year and at least as many hours on keeping themselves physically fit — but too many people neglect their financial health. Just like physical health, being financially fit is crucial to your well-being, future, and quality of life.
Here’s why being financially fit is important and how to overcome common barriers to achieving financial wellness.
Read MoreBuying a home can be a daunting task. The challenges of being a first-time homeowner can be intimidating, particularly for people who are moving away from home. Let’s look at a few guidelines to help take some of the stress out of the decision.
Read MoreCongratulations! You’ve reached the 12th and final step of the 12 steps to financial wellness. In this step, we’ll review each of the previous steps and adjust this part of your financial health as necessary.
Read MoreWith your retirement funds up and running, you’re ready to give your money its best chance at growth through your choice of investment options.
Read MoreNow that you’ve learned how to indulge responsibly and are mindful of your credit score, it’s time to start planning for retirement. This is true no matter your stage of life.
Read MoreYour credit score is a crucial part of your financial health. The three little numbers measure the capacity of your credit, the proficiency of your money management, and your fiscal responsibility. An excellent credit score can open the door to large loans with better interest rates, employment opportunities, and more. On the flip side, a poor credit score can be a strong impediment to building wealth, funding large purchases, and finding gainful employment.
Read MoreNow that you know how to spend mindfully, pay it forward, and regularly set aside money for savings, you’re ready to learn how to indulge in the occasional expensive treat–responsibly.
Read MoreThe new year is almost here. Are you ready?
Have you taken any steps to prepare for the financial realities of the coming year?
Here are some tips to get you started.
Read MoreNow that you’re managing your money well and you’ve even learned to share the gifts you’ve been given, it’s time to start perfecting the art of saving.
Read MoreNow that you’ve started paying down debt, you and your partner have tackled big money issues, and you’ve mastered the art of spending mindfully, you’re now ready to think beyond your own needs by learning how to pay it forward.
Read MoreCreating a budget and deciding to stick to it is easy; it’s carrying through on your plan that’s the hard part. For too many people, financial responsibility ends with having good intentions, and real-life gets in the way of all well-laid plans. The discrepancy between what they want and what they do is caused by their failure to spend mindfully. When every indulgence and impulse buy is just a swipe away, it can be super-challenging to rein in that spending instinct – but it is possible. Here’s how to learn the art of mindful spending.
Read MoreOn October 20, 2022, Members Choice Credit Union will join over 56,000 credit unions worldwide to celebrate International Credit Union (ICU) Day®. The theme of ICU Day 2022 is “Empower Your Financial Future with a Credit Union.”
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