SIU Credit Union Blog

Category: Financial Resources (page 1 of 3)

Put Your Cards On Our Rate Loss Program

2015-bal-tsfr-tablet-int

 

Has your credit card balance gotten out of control? We are here to help! Transfer your credit card balances to a SIU Credit Union credit card and save. When you transfer balances to an SIU Credit Union Visa®, you will receive a low balance transfer rate good for 15 months. And the best part is, there is no balance transfer fee.

Check out this advice for controlling your credit card use:

  •  Actively manage your account. Open and examine your credit card statements promptly. Look for unauthorized use, of course, but also look for announcements from the issuer. Under the new rules, you must have 45 days’ notice of a change in your card’s terms, such as an interest rate increase. If you choose to “opt out” of the change, you no longer will be able to add new charges to your card, and will want time to get a replacement while you pay off the old balance.
  • Keep your credit score healthy. This number between 300 and 850 is a measure of your trustworthiness as a borrower. The higher your score, the easier it is to get a loan and, often, the more favorable the interest rate. The most important ways to maintain and improve your credit score is by paying all your bills on time and not taking on excessive debt.
  • Watch your card balance-to-limit ratio. It’s OK to occasionally “max out” your credit card for important purchases, as long as you can pay it off in a few months. But over the long term, try to keep your total credit card debt to a reasonable 10% to 20% of your total credit limit. If the ratio gets much above 20%, and you can handle the payments, ask for a higher limit on your current card or get another one. Don’t add new cards too often, though, and don’t close several unneeded accounts in a short period—either move can lower your credit score.
  • Transfer your balance to a SIU Credit Union credit card. If you don’t already have a SIU Credit Union credit card, now is the time to get one. Visit a location near you, or call us today at 800-449-7301. NOTE: if you want to join our Rate Loss Program, bring in a Completed Balance Transfer Form, and your most recent statement.

Continue reading

Share on FacebookTweet about this on TwitterShare on Google+Email this to someonePrint this page

Insurance Tips for Young Adults

life insurance
Most young people don’t think insurance is important—until they need it. Because young adults aren’t wallowing in disposable income, insurance often gets lost in the shuffle of rent, gas, and other routine bills. Here’s how to protect yourself against the unexpected without spending a fortune.

Most young adults need only three types of insurance coverage: health, renters, and auto. Life insurance is another type of policy to consider if you have financial dependents or own a business.

Your insurance needs change as you grow older. Owning a business, getting married, finding a new job, and becoming a parent are all events that call for a fresh look at insurance coverage.

Continue reading

Share on FacebookTweet about this on TwitterShare on Google+Email this to someonePrint this page

Use our Free Features and Avoid the Fee

As you know, SIU Credit Union prides itself in keeping the fees that we do charge as low as possible.  Although, from time to time we do need to adjust some fees.  Beginning on February 23, 2015 some new fees will go into effect.  Never fear, here are some great tips to make the most of the free services that are offered at SIU CU and avoid any unnecessary fees.

87769374

E-Statements  How would you like to reduce the clutter in your mailbox, avoid mail theft and save yourself some cash? Save time and conveniently access your financial statements online, whenever you want, instantly. With free online E-Statements.  It’s just like receiving your monthly paper statements in the mail only better!

Continue reading

Share on FacebookTweet about this on TwitterShare on Google+Email this to someonePrint this page

Practical Ways to Save Money

When you’re on a mission to save money it might seem it will take forever for savings to grow. Saving money often starts with changing “spending” habits. Once you identify your savings goal or goals, here are some ideas that can help.

89693233

Get cooperation from family—Controlling spending starts with you but, if you have a spouse or children, it’s essential to have buy-in from family members to make it work. Talk with your partner first, then involve your kids.

Discuss money management as a couple—Get organized, put goals and details in writing, and schedule a money management meeting. Also: Continue reading

Share on FacebookTweet about this on TwitterShare on Google+Email this to someonePrint this page

Virtual Bitcoin Carries Actual Risk

Consumers, beware: Buying and using digital currency such as bitcoin carries certain risks, according to the Financial Industry Regulatory Authority Inc. (FINRA), Washington, D.C.

bitcoin

Image courtesy of www.bitcoin.org

Bitcoin is an unregulated peer-to-peer payment system that uses its own currency, called bitcoin, to transact business. Bitcoins are not issued by banks or governments—the bitcoin platform was designed as an alternative to national currencies like the dollar, and to commodity-based currencies such as gold or silver coins.

Consumers can buy and sell bitcoins online or at physical locations. A growing number of physical establishments and exchanges allow customers to buy and sell bitcoins using cash, credit cards, money orders, and other methods. Bitcoins reside in a digital wallet, from which consumers use them to buy items from establishments that accept bitcoins.

Continue reading

Share on FacebookTweet about this on TwitterShare on Google+Email this to someonePrint this page

Useful Apps for Your Mobile Device

S89791804IU Credit Union knows that you’re always on the go!  So we’re providing you with a list of useful apps for your smart phone or mobile device.  Need to access your account, find an ATM, help buying a car, or even get discounts when you’re shopping?  It’s all right at your fingertips.  Find these apps in the Apple App Store or on Google Play.

SIUCU Mobile Banking – It’s easy and convenient to manage your finances – wherever you are! Away from your computer and need to make a transfer? Or maybe you just need to check your balances or pay a bill.  It’s all easy with the SIUCU Mobile Banking App.

COMING SOON!  SIUCU Deposit – In early 2014 you’ll be able to make check deposits anytime, anywhere using your mobile device.  Just tap the SIUCU Deposit App, Snap a picture of the check with your mobile device and deposit it into your account.

Continue reading

Share on FacebookTweet about this on TwitterShare on Google+Email this to someonePrint this page
Older posts

Copyright © 2015 SIU Credit Union Blog

Theme by Anders NorenUp ↑

SEO Powered by Platinum SEO from Techblissonline