DOCO Credit Union: Here's how to save money in the new year

January 7th, 201946478 DOCO Credit Union recently spoke to WFLX-Fox31 about saving money in 2019. Below is an exert from the resulting article:  New year, new budget?Tons of people are vowing to save more money in the new year. That's according to statista.com.If you're one of those people, Becky Belcher with DOCO Credit Union shares how you can meet your goal."This is what people say all the time, we live paycheck to paycheck, there's no money left," said Belcher. "I promise you, when you do a budget you will see that even if it's just 5 or 10 dollars a pay period, you can save money."But where do people start that want to save money? "The biggest thing...

Coosa Valley Credit Union: How to finance your new car

October 4th, 201842452 Coosa Valley Credit Union recently weighed in on how consumers can wisely finance a new car. "If you're a first-time car buyer, then shopping for a car can be exciting, especially when it's new," according to the column, which ran in Coosa Valley News. "A new car is one of the largest purchaes you will make and it's important to understand how car financing works." The column went on to share five ways consumers can be sure they get the best deal when financing their new car. Also featured in: Coosa Valley News...

Lendedu: Are 72 month or 84 month auto loans a bad idea?

September 27th, 201843339 The following article appeared on LendEDU on Dec. 8, 2017. LendEDU is a  site that helps consumers make educated decisions and better manage their money. LendEDU has been featured and mentioned on sites including TechCrunch, New York Times, Wall Street Journal, CNN, Bloomberg and more.  An increasing number of new car buyers are stretching their car loans out further and further. Just five years ago the average loan term for new car purchases was around 60 months, but recently the New York Fed reported that the average loan term is 68.8 months. That’s already two weeks longer than last year. Long story short, auto loans are being...

President Trump, HUD proclaim June National Homeownership Month

June 7th, 201828138 June is National Homeownership Month in the United States. "This month, we celebrate those Americans whose successes and determination have helped make them homeowners," said President Donald J. Trump in a statement. "Their dedication to their families and communities, and to achieving a brighter and more secure future, is an inspiration to each person who is pursuing their own American Dream." The U.S. Department of Housing and Urban Development uses National Homeownership Month to mark the importance of owning a home and the effect it has on families, neighborhoods and the nation's economic health, according to a HUD press...

At least four Georgia credit unions partner with Carvana

February 23rd, 201830344 At least four Georgia credit unions have joined 31 other credit unions nation-wide that have partnered with online car dealership Carvana in the last few months. "Our model is aligned with credit unions," said Chief Product Officer Dan Gill in a Credit Union Journal article. "We roll out our business one market at a time. We do targeted marketing in the geography where we are present. Credit unions tend to have geographically centered memberships. They also have a reputation for great service and great rates. We align with that credit union philosophy." (Credit Unions) also have a reputation for great service and great rates. We align...

Coosa Valley Credit Union: Why a credit union is best for personal loans

February 23rd, 201832127 Coosa Valley Credit Union recently weighed in on the pros of taking out a personal loan through a credit union. "Credit Unions operate differently from banks," the credit union asserted in a column that ran in Coosa Valley News. "They are not-for-profit organizations that usually serve a specific community. Being not-for-profit means that credit unions are focused more on helping their members than on answering to stockholders or trying to boost profits for the sole benefit of the bank." The column discussed three reasons consumers should consider credit unions for a personal loan, including friendly service and community focus,...

Here's why a long-term auto loan may not be a great idea

January 15th, 201832117 Listen, I get it. At first glance, taking a longer time to pay off that car loan seems to make sense. >>Related: Rising auto loan rates could spell trouble for sub-prime credit scores<<  For one thing, you’re now paying more than ever for those new cars. According to data from Experian, the average car new loan is a little more than $30,000 while the average used loan is about $19,000. For another, the average American tends to keep their cars for 11.6 years, much longer than they used to, according to Forbes. When you look at that information, a loan that would allow you more than five years to pay off sounds...

Rising auto loan rates could spell trouble for sub-prime credit scores

January 8th, 201828176 Here’s some bad news for those struggling with less than stellar credit scores: you may have a difficult time getting a new car loan in 2018. The Federal Reserve raised interest rates three times in 2017 and is predicted to raise rates at least that many times again in 2018. And that, of course, means interest rates on new car loans have risen – and will continue to rise. For buyers with stellar credit (think a score of 660 or above) this trend likely won’t be a big deal, according to a USA Today article. They’ll likely see a increase of about $4 a month in their payments and could still be able to find rates as low as 4...

Federal Trade Commission: Beware of auto loan modification scams

December 11th, 201729118 They might sound tempting, but consumers need to be careful about trusting companies claiming they can reduce monthly car loan or lease payments to help avoid repossession. That's according to a blog post from the Federal Trade Commission, the nation's consumer protection agency. Falling behind on car loan payments can be a stressful experience. Most people need their vehicles to get to the grocery store, to work and to the doctors — few can afford to lose that transportation. But loan agencies have a right to take cars and trucks away from consumers who aren't keeping up with their payments. Loan modification scams feed on this...
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