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.
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Paying off your mortgage is an exciting financial milestone. There are a few important steps to keep in mind as your mortgage matures—here is what you can expect as you plan to pay off your Credit Union 1 mortgage.
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Everyone has everyday finances to manage—budgeting, paying bills, making deposits, transferring money to savings, and more. Accessing your money from anywhere should be simple and timesaving. A free checking account can help make it easier to do your personal banking, without monthly fees.
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When you start saving to buy a home, the first question on your mind might be how much you should set aside for a down payment. The size of your down payment—or the amount of money you pay upfront when buying a house—will impact the amount of money you need to borrow from a lender, your monthly mortgage payment, and whether you need to pay private mortgage insurance (PMI). While 20 percent is often presented as the gold standard of down payments, there may be situations where it actually makes more sense to your financial situation to put less down—and some mortgages even offer the opportunity to put no money down. Here are a few things to consider when determining what down payment makes sense for you when buying a home.
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When you have experienced financial setbacks, you may have difficulty being approved for a new bank account. Second Chance Checking accounts—also known as second chance bank accounts—can offer another option for people looking to get on stronger financial footing.
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A credit card can be a valuable financial tool. When used responsibly, credit cards can help you build strong credit and earn rewards, like cash back, travel benefits, and more. And the more you use the card, the more chance you have to earn those perks. But—like any financial tool—a credit card only truly has benefits if you are smart about how you use it and only spend what you can afford. That is why it may make sense to use a credit card for daily expenses—items you already have allotted in your budget that you can pay off promptly. Consider the pros and cons of using your credit card for daily expenses before you tap or swipe.
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