News

International Credit Union Day 2015

What is International Credit Union (ICU) Day?

• ICU Day has been celebrated on the third Thursday of October since 1948 and is designed to create awareness and celebrate the ways credit unions improve the lives of their members around the world. • There are more than 57,000 credit unions in the world serving 217 million people in 105 countries. • This year’s theme, “People Helping People®,” embraces the longstanding credit union philosophy that people can improve their financial well-being by working together. (more…)...
Beware of Fee-Harvester Cards!
You've heard the pitch: "If you've been turned down for credit, we can help!" If you have blemished credit or lack a borrowing history, it might be tempting to fall for an unsolicited credit card offer, but be careful. These cards likely will only worsen your financial situation. Often called fee-harvester cards, these cards target subprime borrowers--people already economically vulnerable with low credit scores and a tarnished credit history or none, according to the New York Times. Fees often are misrepresented, making some charges illegal. An example, according to Consumer Reports, would be an initial credit limit of $300 that's immediately reduced by a $50 annual fee and a $200 account processing fee, leaving available credit of only $50. These fees are on top of others—such as a $15 monthly account-maintenance fee, a $25 charge to increase credit limit, and a $5 fee for online...
The Best Time to Buy a Car
To put yourself in the best negotiating position, the time of month or year when you shop for a new car really does matter. Dealerships and individual salespeople have monthly quotas to meet. So in the last few days of a month, they're especially eager to make deals. In late summer and early fall as the next year's models are about to go on sale, buying a leftover vehicle from the current model year can mean huge savings. Shopping for cars, not gifts, right before Christmas—when auto showroom traffic is light—also can produce a good deal. And, even consider shopping after very bad weather—when the roads clear just after a snowstorm, for instance. Any time when few people are out and about is a good time to be car shopping. Shopping at the right time can boost your chances of getting a really good car deal....