Are Peer-to-Peer Loans a Good Solution?

 

After the financial meltdown, lending guidelines tightened, paving the way for peer-to-peer (P2P) lending—a new product that offers consumers personal loans at competitive interest rates.

One primary difference between P2P lending and traditional loans is the lenders; P2P loans are backed by a pool of everyday investors—or peers—instead of financial institutions. The lending companies act as the middlemen between the investors and the borrowers.

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Ask the Advisor: Disaster-Proof Your Insurance Coverage

Laura Holmes is a Licensed Insurance Agent with SchoolsFirst Insurance Services, specializing in personal lines policy.  With more than 10 years of experience in the insurance industry, Laura has developed an understanding of the importance of insurance and managing risk. She is dedicated  to assisting Members in understanding what is needed to properly protect themselves and their family. 

Most people don’t worry much about their insurance coverage until they need it. So if you haven’t read your policy’s fine print—believe me, you’re not alone. That’s why I recommend getting a complimentary insurance review to help you figure out if you have what you need. Continue reading

Member Stories

Abi

“SchoolsFirst has been there for me from 12 years old to my first post-college job!”

 

Emilio

“SchoolsFirst FCU looks out for their Members!”

 

Michele 

“SchoolsFirst secures financial future for young teachers.”

 

Dave

“Because of the great low mortgage and auto loan rates, I was able to afford my motorcycle with a loan with Schools First FCU!”

 

When you click on external links, you are linking to alternate websites not operated by SchoolsFirst FCU, and SchoolsFirst FCU is not responsible for the content of the alternate websites. The fact that there is a link from SchoolsFirst FCU’s email to an alternate website does not constitute endorsement of any product, service, or organization. SchoolsFirst FCU does not represent either you or the website operator if you enter into a transaction. Privacy and security policies may differ from those practiced by SchoolsFirst FCU, and you should review the alternate website’s policies.

Extra Credit provides general information to help improve our Member’s financial lives. Every situation is different, so please contact us for guidance on your specific needs. The advice provided in Extra Credit is not intended to serve as a substitute for speaking to a loan representative, financial advisor, or BALANCE counselor who can help tailor a solution for you.

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It’s a Money Thing: 4 Credit Score Myths Debunked

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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The Newbie’s Guide to Car Buying

When it comes to buying that first car, everybody was a novice once. And even though the process can be intimidating, if you do your research and get your financing in order ahead of time, you’ll be able to purchase the vehicle you want at a price you won’t regret. And that’s something you’ll feel good about long after you’ve moved on to your next vehicle.

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