SIU Credit Union Blog

Beware Of Business Scams

How much would you pay for the opportunity to work from home and earn six figures in less than 90 days?

That’s exactly what the Digital Altitude company promised: They said you’d just pay for training and coaching, and then you’d be shown how to pull in the big bucks with almost no effort. Thousands of people jumped at the chance and signed up for the courses.

Unfortunately, Digital Altitude never made good on their promise. Instead, they systematically defrauded victims out of more than $14 million, providing little more than some training videos, several PDF documents and alleged coaching sessions – most of which were simply ploys to get people to fork over even more money.

According to an FTC report made public earlier this month, most people made little or no money through this job-training series. Victims were not paid until they recruited new members, and few earned enough to even cover the various fees they had to pay to take the courses – and certainly nowhere near the six-figure mark!

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Best Ways to Fund Spring Home Repairs

Now that spring has blossomed into full-on allergy mode, the time we spend outside is even more appreciated — especially with the help of a good antihistamine. The next time you venture out, take a moment to do a walk-around inspection of the old homestead. See some room for improvements? Maintaining, repairing and upgrading a home can range in cost from a minor trickle to a major cash drain.

Paying for minor repairs

If you see the need for only modest repairs, you might be able to tackle them within the bounds of your cash flow. But remember, your emergency fund is best left intact for unexpected cash needs, not for replacing a gutter or downspout. Continue reading

Website Review:   

If you’re looking to learn about your credit score, is a great place to start. The site offers a free credit score, a helpful Credit Report Card and loads of articles featuring credit advice from many professionals. Despite looking too good to be true, is a reputable site run by professionals. There’s absolutely no cost to use the site’s features, and the business earns its profit by revenue generated from its products as well as commission earned through visitors using advertised businesses. It’s important to note, though, that the credit score the site will generate for you is not a FICO credit score. Since more than 90% of lenders consider your FICO score when determining whether to grant you a loan, this number won’t tell you if you’ll be eligible for a mortgage or a car loan. The score gives you is based on your Experian credit reports and is are liable indicator of your general credit standing. However, you can easily access this information yourself through Aside from the credit score, you can also use the site to draw up a Credit Report Card, a unique product that tells you all you need to know about your credit status. The report will give you a snapshot of your payment history, including the timeliness of your payments and a score ranging from “very poor” to “excellent.” Continue reading

How to Talk Money with Your Partner

What happens when you and your partner have different approaches toward money? It’s a common scenario. One partner seemingly knows where every earned dollar goes, while the other is a carefree spirit who thrives on spontaneous decisions and purchases. One partner loves fine dining and thinks nothing of blowing $200 on haute cuisine, while the other is happy with pizza and would rather spend that money on another pair of shoes. And on it goes. Money is personal. We all have our own ideas of how we think about it, spend it, save it and try to earn it. But, when you’re sharing so much of your life with a partner, it’s inevitable that your individual approaches toward money will sometimes clash. How do you bring up this loaded topic without it spiraling into a heated argument? Continue reading

What is a balance transfer?

If you have debt with a high-interest APR (annual percentage rate), chances are a balance transfer could help you.

What is a balance transfer, anyway?

A balance transfer is when part or all of a debt balance you owe is transferred to another account, usually to save money on interest rates. When you transfer an existing balance with a high-interest rate, say a loan or credit card at another financial institution,  to a lower rate, the savings can really add up.

How can this help you?

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