Credit scores are an area of personal finance that seem a lot more mysterious than they actually are. Many people believe that improving them is a matter of trial and error and, as a result, there’s a lot of “credit score advice” floating around that can end up doing more harm than good. Four common credit score myths have been rounded up and debunked below:
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A Member’s Financial Journey – Sheela H. (Videos)
Although Sheela’s credit score was at an all-time low due to circumstances beyond her control, the Credit Union looked beyond that drop in her score and saw a Member worth taking a chance on. See her remarkable journey from financial crisis to financial freedom.
Will the Election Year Hurt Your Investments?
Nothing is more polarizing than presidential elections. People get very emotional when discussing the pros and cons of candidates and the future state of the country. And those very emotions can sometimes send the markets reeling.
California’s New Consumer Privacy Act: Know Your Rights
The majority of Americans are growing more concerned about how companies and the government collect and use their personal information, according to a recent survey by Pew Research Center. Eight in 10 consumers believe that the potential risks of data collection overshadow any potential benefits.
This sentiment is not surprising, given the data breaches that have occurred over the last few years. To increase individuals’ privacy rights, legislators passed the California Consumer Privacy Act bill (CCPA) in 2018. The law became effective Jan. 1, although enforcement begins July 1, 2020. This will give companies adequate time to comply with CCPA requirements. It’s likely that other states will follow California’s lead with their own privacy laws in the near future. Continue reading
Ask the Advisor: Ways to Stick with Your 2020 Resolutions
by Kathryn Hackney
For more than 30 years, Kathryn has been helping people work toward their financial goals. She takes pride in providing Members with an objective review of their current situation and helping them create long term goals. Kathryn likes to remind Members that retirement planning doesn’t end at retirement. “Members often think that once they retire things will take care of themselves,” she says. “There are a lot of opportunities that retirement presents for managing your retirement savings. Working with Members to make sure they are getting the most out of their plans is something I really enjoy.”
Kathryn is a fully registered financial advisor and licensed insurance agent. When she’s not working with Members, Kathryn loves to get outside, bike riding and spending time with her family and friends.
A new year typically brings new challenges. Maybe you have some financial resolutions you’re already working on. But what are the best ways to help you stick with them so your circumstances change for the better — permanently?
Here are some money moves that can help you stay on track this year.
Don’t Fall for These Social Security Scams
As fraudsters become more sophisticated, they find more ways to separate consumers from their hard-earned cash. One of the ways they’re making inroads is via a caller ID “spoofing” scheme pretending to be a representative from the Social Security Administration. Other scams use email or snail mail. There are variations of all these tricks, but the goal is the same – to steal your money, identity or both. Here are just a few to guard against.
Your Retirement: Smart Ways to Save for Your Future
With so many financial obligations in life, it’s easy to put your own needs on the back burner. But saving for your retirement is one of the best things you can do to achieve lasting financial well-being. It won’t seem like a struggle once you get into the savings habit and stick with it.
It’s a Money Thing: Pay Yourself First … Automatically
Like going to the gym or eating a healthy diet, saving money is one of those concepts that’s simple to grasp but weirdly challenging to put into practice. We understand its benefits. We agree that it’s essential to our wellbeing. We know that it’s something we should be doing. But paycheck after paycheck, it’s the same routine: after the bills have been paid and the regular expenses have been looked after, there just isn’t quite enough left over for our savings goals.
The Taxman Cometh
Since we all know what the other certainty in life is (death), maybe we shouldn’t be all that upset about the onset of tax season, right?
Quick Tips to Master our Mobile App
Using the SchoolsFirst FCU Mobile Banking app 1 lets you conveniently and securely stay on top of your finances. Discover all the great things you can do via your mobile device anytime, anywhere.
