- There are some things that go along with owning a home. Home improvements are near the top of this list. The range of home improvements runs from the very small cosmetic improvements to the major structural home improvements. You have to pay for all of them, whether small or large. Since there are all kinds of situations people are faced with, sometimes the situation calls for a home improvement…, Remodel vs Move, You like your house, and you like where you live. It's just that your house is missing some of the features you'd like. Perhaps the family is growing and you need some extra room. In these cases, a home improvement loan can provide everything you want or need without having to buy a new home., Improve Value of Your Home, Another reason people use a home improvement loan is to complete projects they know will increase the value of their home. There's a wide variety of projects that help boost the value of your home. This can make a huge difference when you're ready to sell your home., Emergency, Emergencies. We hate them. Yet, sometimes they happen. This includes emergency home improvements. Sometimes the roof springs a leak after a strong rain storm. Other times the heating and air conditioning system fails unexpectedly. Maybe someone has to give you the bad news you have incurred major structural damage to your home that needs immediate attention. In these cases, a home improvement…, Better Safe than Sorry, We'd all like to avoid emergency home repairs. As a homeowner, sometimes it's better to address a home improvement or repair before it becomes an emergency. Emergencies are stressful, costlier, and sometimes dangerous. To avoid these stressful hassles and keep everyone in the house safer, sometimes a home improvement loan for a project or needed repairs can be the way to go. It's important to…
- 4 Ways I Saved (or tried) in College, When I was 17 my dad's motto seemed to be "stop spending your money." But to me, spending was easy. "Saving" was hardly a word. The first time I considered cost – another new word! – was the moment my dad said, "You know, you'll end up with a lot more student loans if you choose one of those private schools. We can only help so much." This language was confusing for a teen like me with limited…, The rest would be up to me – a fact that I would learn many years later., I applied to four private universities and one state school, which I considered as a back-up plan because in my mind "private" meant "elite" and therefore "public" meant "inferior." With my 98 GPA and solid SAT scores, I was accepted across the board and had my pick. With a full platter of selections, I obviously had my eye on the elite! Sure, I looked at the price tag, too, but if my parents…, Nope!, Student loans! That's the golden ticket to this chocolate factory. And being a cosigner on those loans, that meant my parents had financial liability and, ultimately, I'd need to make payments based on their incomes and FICO scores . I picked a private school anyway, and away I went. Then I watched our family funds dwindle, and as the 2008 recession took hold of our economy, I knew I needed to…, With frugality in mind..., My tough lessons in college finances: , 1. Pay myself first, I had to convince myself, "If I don't have money to save, then I don't have money to spend." It does not work the other way around . And once you can train yourself to do this, your lifetime of saving can begin. , 2. Avoid the expense of luxury, My various living situations in college: Becoming a Resident Assistant so I could get a "free" dorm room. Remember though, it's a job and can be time-consuming. Working new student orientation in the summers (again, free housing and good pay), which also helped me explore my college town when it wasn't swamped with students. "Couch-surfing" and living out of my car so I didn't need to pay rent…, 3. Invest my time, Instead of investing money (because I didn't have any), I invested my time, asking, "How can my time now improve my finances tomorrow ?" Gain practical experience , instead of simply studying the topic: Apply my skills in a professional setting to make myself more valuable when seeking a better-paying job Build a strong resume for post-grad applications and internships Learn from active mentors…, 4. Stretch my student loans, Many student loans come with a bit of flexibility. Meaning, they are more than you need for tuition and housing . Seeing those excess funds in my bank account, I realized that I had to be responsible not to burn through it carelessly. Like many students, I was on my own in a new city, and yearning to break free from the pesky rules and watchful eyes of my childhood home. I won't debate the…, Other financial tips for college students, from personal experience:, Budgeting means being strict when asking, "What is a necessary expense ?" Buy used books from friends, and hunt for the bargains. Books can be pricey, particularly at the beginning of each semester. Sell the old ones, and never buy new if it can be avoided. Don't buy new outfits or clothes every semester. Focus on the supplies you need. Learn from your previous semesters and improve your…
- Getting married is one of those major stages in life. You find that special person to live with, share your life with, and maybe even start a family with. It's a partnership in every aspect of life, including finances and money management. Too often you hear people utter that infamous phrase, "If I only knew then what I know now." We don't want that to happen to you. That's why we have created a…, 1. Get Your Finances Organized, Getting organized and continuing to be organized can mean the difference between financial success and lots of frustration. When you first get married, sit down with your spouse to work on how you want to organize. Get a clear idea of your financial situation. Then decide how you are going to organize your money management and finances. How will bills be paid? Who will handle which tasks? Where…, 2. Set Your Financial Goals, As newlyweds, it's an exciting time. It's also the perfect time to set goals. Having financial goals is key to achieving those things you want in life. Having financial goals with your spouse also gives you a vision and bond that helps you work together., Financial Plans, As the old saying goes, failing to plan is planning to fail. It's held up over time because there's truth in it. It's important to make financial plans based on your goals and the kind of life you want. Have a financial plan. Have questions about making a financial plan? Seek a financial planner that can help., Making a Budget (and Sticking to It), Budgets are incredibly helpful. They say money is a wonderful servant, but a terrible master. Budgets help ensure money is your faithful servant. Many who consistently live within a budget say this habit provides many benefits, including reduced stress. Budgeting is simply the process of telling your money where to go. Some may find budgets to be confining or intimidating. However, making and…, 3. Combine Your Accounts, When you get married, it's a good idea to combine accounts. Since you and your spouse will be working on your finances together, having your accounts combined can make your money management easier and more effective. Plus, it helps create better communication with each other., 4. Communicate with Your Spouse, In order to stay on track and avoid financial pitfalls and traps, make sure to communicate well with your spouse. Discuss financial matters regularly and be clear, open, honest, and respectful. Doing this often makes a big difference in money management. It also makes money management more enjoyable., 5. Manage Costs and Live within Your Means, This is just common sense. Everyone knows that they should spend less than they earn. In real life, however, this can get tricky. Sometimes people make that impulse purchase. Sometimes life happens and unforeseen expenses pop up. Living within your means is a must for financial health. It's that simple. To live within your means, live on a budget and don't try to keep up with your peers., 6. Be Prepared for Those Important Life Stages, One of the best parts of marriage is knowing you will be experiencing all life has to offer with your spouse. That includes all the big stages in life like buying your first home together, getting the big family vehicle , saving for your children's education, or saving for retirement. It also could include those things you know are going to happen like home repairs and improvements. Know what…, 7. Save Money for Rainy Days, Part of being prepared is saving money. When you get your paycheck, pay yourself first. Put aside money for an emergency fund. Strive to have three to six months' worth of expenses set aside to help in the case of job loss, major home or auto repairs, and other large expenses. Get in the habit of saving money and you'll be glad you did when those rainy days come around., 8. Make Investing a Priority, Like saving money, investing is crucial to your future financial well-being. Take advantage of your company 401k or other retirement plans. However, there are other ways to invest and make the money you set aside grow, like a money market account . It's good if you educate yourself in the area of investment, but don't feel like you have to take everything on yourself. It might be wise to seek…, 9. Create a Will, It may not be a subject people like to talk about much, but you should create a will. It's wise to think about your loved ones. It's just the responsible thing to do., 10. Think Long Term, Money management and personal finance in marriage is a marathon, not a sprint. Play to win for the long haul. Don't let short-term thinking undermine your long-term goals and dreams. Understand your financial position well and make informed decisions that will work for you over the course of your life., 11. Work Together as Partners, This may be the most important advice. Marriage is a partnership. Work together as partners. Not only will this make what you do together more meaningful, you are also far more likely to be successful and happy in managing your money and achieving your financial goals. Plus, working together is a habit that may just help in other areas of your life. And, after all, the purpose of money management…
- Once a person learns what a money market account is, they have a logical next question: what can I do with it? That's a good question. After all, it's always good to know what options you have to make your money work better for you. With that in mind, let's take a look at some of the uses of money market accounts., "Parking" your money, Let's say you have a chunk of money and you aren't going to allocate it toward investments, purchases, or debt payments anytime in the near future. You can "park" your funds in a money market account and earn dividends. Whenever you are ready to use that money you have quick and easy access to it., Emergency funds, Many financial planners suggest having an emergency fund. It's time-tested advice. Save for a rainy day. Some experts say to have between 3 to 9 months of monthly expenses set aside in case of those rainy days. A money market account is a great place to put that money., A Good Place for Savings Goals, Do you have a savings goal? Maybe you have a goal of saving up for a large purchase like a car or down payment for your your first mortgage . Why not use a money market account?, Reduced Risk for Conservative Money Management, There are various times when one might find it more appropriate to manage their money in a conservative way. Sometimes reducing risk of loss is the primary goal. Let's say one is approaching retirement and the goal is to protect what has been earned and have access to it when needed. In this case, a money market account may be preferable to stocks and other kinds of investments . Perhaps, the…
- Conveniently add accounts from the comfort of your device, Our Add a Share/Certificate feature in digital banking lets you quickly and easily add new shares to your existing Visions accounts – all from your desktop, laptop, or mobile device. Not only that, it's as simple as choosing your account, agreeing to the terms, and funding it however you see fit. , Step One: Choose Your Account, To get started, select the "Add a Share/Certificate" button from online or mobile banking. You'll be taken to a cart view where you can choose which account types you'd like to add. You're welcome to add a standard savings or share account, a Flex Money Market , checking account , or share certificate . , Step Two: Review and Agree to Your New Account Terms, Once you've selected your accounts and added them to your cart, you'll be prompted to enter your email address and phone number. From there, we'll send your new share agreements to your email along with a verification code. Simply enter your code in digital banking, agree to the terms and conditions, and you're ready to fund your new account. , Step Three: Fund Your Account, Congratulations – your account is open! Now all you need to do is make your first deposit. You'll be presented with three funding options, so feel free to use whichever is best for you: Transfer: Want to fund your account from another institution? No problem. Just enter in your bank's information to initiate an ACH transfer. Fund Later in Digital Banking: If you'd like to make your first deposit…, Have Questions?, Stop by your local office or give us a call at 800.242.2120 and a representative will be happy to assist you., Don't Have an Account Yet?, If you're not yet a Visions account holder, check your eligibility and join online . And, if you haven't enrolled in digital banking yet, you can enroll now .
- Coverage that performs when your vehicle doesn't, More than a jumble of letters, GAP and MRC can mean big numbers – especially when your vehicle is out of commission. Here's an introduction to what they are, when they can help, and how they've saved members money. , Guaranteed Asset Protection* (GAP), If your vehicle is totaled or stolen, your insurance settlement will be based on the vehicle's actual cash value, not based on the auto loan you may owe for that vehicle. Instead of forcing you to pay the full deficit in a pinch, GAP is designed to protect your vehicle investment and help you cover your remaining loan or lease balance – potentially saving you thousands. Most years, an average…, Mechanical Repair Coverage** (MRC), Your auto insurance policy and factory warranty will only cover specific incidents and repairs. Both for new and used vehicles, MRC plans supplement your auto protection and extend beyond the manufacturer's warranty to help you cover costly repairs caused by mechanical or electrical failures. Depending on which plan you choose, you could get MRC coverage for everything from electrical problems to…, Click here for more information about GAP, MRC, and auto protection., *Purchase of MEMBERS CHOICE– Guaranteed Asset Protection (GAP) is optional and will not accept your loan application for credit or the terms of any credit agreement you have with us. Certain eligibility requirements, conditions, and exclusions may apply. You may cancel GAP at any time. If you cancel GAP within 90 days, you will receive a full refund of any fee paid. **Provided and administered…
- Scholarships and Grants and Loans, Oh My!, Just as Dorothy of Oz felt overwhelmed and lost as she set out to navigate her way through the haunted forest, you too may experience these same feelings as you go about the process of finding financial aid for college tuition. But don't worry just yet. The application process for college is exciting, stressful and chaotic all at the same time. There are many decisions to be made and seemingly…
- What is cash out and how does it work?, It's normal to have questions regarding auto refinances, especially when it comes to refinancing with cash out. The good news is that auto refinancing with cash out is simpler than you might think. Refinancing with cash out is simply using the equity you have in your vehicle to pay off other debts or to get extra cash for other purposes. Here's how it works. Let's say you have a car or truck. It…, Cash Out Auto Refinancing Process, The process is pretty simple. You can speak with your credit union lending expert or fill out an application. However, there are a couple things you may want to consider. You want to know the value of your car or truck: Do some research. Look at the NADA website at http://www.nada.com/ to get an understanding of your vehicle's value. Consider your credit score: As with all kinds of lending, your…, How Cash Out Auto Refinancing Can Work For You, If done appropriately, auto refinancing can work for you in a couple of ways. Depending on your current financial position, you can use cash out auto refinancing to lower your payment or even lower your interest rate. If you have questions about whether auto refinancing with cash out will work for you, you can always bring your questions to your credit union lending experts. They can answer your…, Here are some key points to remember:, Refinance your existing vehicle and "cash-out" the equity in your car up to 100% of the value Utilize the loan proceeds beyond refinance amount for any purpose (pending approval and conditions) Applies to current model year and 10 model year's back – i.e. 2007 and newer for 2017, 2008 and newer for 2018, and so on Thinking of applying? Start an application today
