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What's the Difference Between a Credit Union and a Bank?

When it comes to managing your finances, there are options beyond traditional banks—credit unions. Credit unions are financial institutions that offer similar services but operate differently than banks.

How Your Credit Score Affects a Car Purchase

It’s no secret your credit score is important. But many are surprised how great a role it can play in the overall cost of an auto loan. When financing a vehicle, your credit score matters in terms of getting approval for a car loan, the amount you will need for a down payment, and the total interest you will pay over the life of your auto loan.

What Is Auto Loan Pre-Approval, and Do I Need It?

One of the most powerful car-buying tools is an auto loan pre-approval, which tells you exactly how much car you can afford. Pre-approval shows dealerships that you are a serious buyer and also helps you understand exactly what your car-buying budget is. While it can be tempting to skip ahead and start shopping, securing auto loan pre-approval can be a smart move for your finances.

How to Shop Smarter for a New Car

Buying a new car is exciting, but it is also a big decision that can significantly impact your finances for several years. That’s why it is crucial to do a bit of homework before you ever step foot onto a dealer lot. A little prep can help to reduce the price of the vehicle, secure better financing options, and put you into a better financial position overall. Here are a few steps you can take to improve your car-buying experience so you drive away in a car you love and can afford.

How to Protect Your Finances After a Natural Disaster

Navigating the road to recovery after a natural disaster like a hurricane, tornado, or flood can feel overwhelming. Once you have ensured that you and your family are safe, you will want to take steps to protect your finances and your property, so you have the resources you need to rebuild and recover. Here are steps that you can take right away to help regain financial peace of mind after a natural disaster.

How Much Money Will You Need to Put Down on a House?

One of the top priorities when buying a house is having enough cash on hand to meet the down payment requirement. Understanding how down payments work can help a future homebuyer be as prepared as possible.

What Is a Credit Union?

A credit union is a financial institution that operates like a bank. While banks and credit unions have many similarities, there are a lot of things that make credit unions unique. Understanding how a credit union works can help you determine if a credit union is the right fit for your everyday banking needs.

5 Tips to Help You Qualify for a Mortgage

Qualifying for a mortgage can feel daunting, but with the right knowledge and preparation, you can increase your chances of purchasing your dream home. Here are five tips to help you qualify for a mortgage and navigate the home buying process with confidence.

What Are Mortgage Points?

The mortgage process has a lot of options for every kind of homeowner, like buying mortgage points. Mortgage points, or discount points, are fees that a homebuyer can pay to their lender in exchange for a reduced interest rate. So, how do mortgage points work, and how can they help someone looking to buy a property?

How Do You Get a Mortgage Loan?

For new homeowners, the house buying journey can be daunting. Navigating how to get a loan for a mortgage shouldn’t be. Understanding what to expect can make the mortgage application and home-buying process easier.

What Are Closing Costs for a Home Purchase?

When someone is in the process of buying a home, they will come across closing costs at some point. So, what exactly are closing costs, and why are they important for home buyers to know about?

What Is Direct Deposit and How Does It Work?

Direct deposit is an efficient and secure way to send money, like paychecks, Social Security benefits, government benefits, tax refunds, and more. Because direct deposit is an electronic transfer of funds directly into your bank account, it eliminates the need for depositing a physical check. This means you will be able to access your money more quickly, without needing to take any extra steps.

What Is Second Chance Checking?

Getting approved for a new bank account can be tricky if you’ve had a history of banking issues. Fortunately, there’s another option. Second chance checking—also known as second chance banking—can be an option for individuals looking to get their finances back on track.

Auto Refinancing 101: Rev Up Your Savings

Auto refinancing can be a savvy financial move for car owners who want to save money on their auto loan. Whether you're looking to lower your monthly payments, reduce the amount of interest you pay over the life of the loan, or simply find better member service with a new lender, refinancing your auto loan can help you achieve your goals. In this day and age, every penny counts, and auto refinancing is just one way to put a little extra cash back in your pocket.

How to Avoid Common Checking Account Mistakes

Checking accounts are an important tool for managing day-to-day finances. So it’s important to understand how a checking account works so that you can use it effectively and ensure that you do not make any of the common mistakes that can lead to unnecessary fees. Below are a few of the most important ways you can get the most out of your checking account and manage your finances with confidence.

5 Ways Digital Banking Makes Managing Your Finances Easier

Your financial institutions are always at your fingertips, thanks to computers, smart phones, and tablets. Digital Banking makes managing your everyday finances effortless. Here are five ways you can use Digital Banking to your advantage to stay on top of your money management and work toward your larger financial goals.

What is CO-OP Shared Branching?

Credit Unions guide members towards a bright financial future with hands-on support, making banking better with a personal touch. This means, if you’re a member, you are the priority.

5 Ways to Pay Off Your Debt Sooner

Paying your debt off early means less stress and more money that you can put toward your other financial goals. While delaying repayment for another day is tempting—especially when you have other financial commitments—tackling your debt sooner rather than later will save you money in the long run.

What is Inflation and What Can I Do About It?

Inflation affects almost everyone by increasing prices throughout the economy, but it doesn’t have to be scary. There are steps you can take to save money, lessen inflation’s impact on your finances, and help ensure a stable financial future.

5 Ways to Save With an Auto Refinance

If you have an auto loan and want to save money, consider refinancing. Loan refinance is when an existing loan is given new terms and conditions that are better suited to your needs, with either your current lender or a new one.

What is a Credit Report?

Your credit report tells you and potential lenders about your financial health—including your debts and their payment history—and can mean the difference between your loan or credit card application being accepted or declined.

What is an Emergency Fund?

The world is unpredictable, but you can prepare for the unexpected with an emergency fund. Having an emergency fund can set you up for financial success by helping you cover home and auto repairs, medical expenses, and more.

5 Ways to Use ATMs for Everyday Banking

Did you know that Credit Union 1 technically never closes? CU1’s fast, high-tech ATMs are a secure way to bank on your schedule and complete transactions just like you would at your local branch. Some are even available twenty-four hours a day and seven days a week.

What is a Share Certificate (CD)?

A share certificate is a temporary savings account offered by a credit union that—just like a certificate of deposit (CD) at a bank—saves a sum of money with a locked-in interest rate over a fixed period of time. Even if interest rates go down, your CD’s rate stays the same, so you keep saving at a competitive rate.

How Do I Start Building Credit?

If you want to qualify for a loan to buy a house, a car, or another expensive product or experience, you need credit. The world of credit, credit reports, and credit scores can seem intimidating—especially if you are just starting out—but you can start building credit right now and work towards funding your financial dreams with these tips.

What is a Savings Account?

You can use a savings account to put funds away for large purchases, emergencies, life events, and more. Plus, this type of account earns interest, which will grow your savings to help you reach your goals.

What is a High Yield Checking Account?

Most people use a checking account to manage their everyday finances—to pay bills, receive a direct deposit paycheck, make purchases, and more. But certain types of checking accounts, known as high yield checking accounts, can also help you save money.

What is the Difference Between a HELOC and HELOAN?

Your home is an asset, and its value can help you reach other financial goals sooner. A Home Equity Line of Credit (HELOC) and a Home Equity Loan (HELOAN) are both forms of borrowing that use the equity in your home as collateral.

What is a High Yield Savings Account?

When you are saving for your goals, every penny counts. While all savings accounts earn interest, which helps your balance grow, certain accounts pay dividends at a higher rate. These are known as high yield savings accounts.

How to Make a Budget for Beginners: A Step-By-Step Guide

A budget is a plan you make to decide how much you should spend and save based on your income. Making a budget—and sticking to it—can set you up for financial stability by helping you spend less and save more.