SIU Credit Union Blog

Tag: credit (page 1 of 2)

7 Ways to Protect Your Credit Score

When you swipe your credit card, you might not be thinking about what your creditors are doing to make sure they recover the money they just loaned you. But, as you make your next purchase, make sure to protect your credit score.

Your credit score is a three-digit number that creditors use to assess how likely you are to repay your loans. A high score can help you qualify for the lowest interest rates and gives you the ability to borrow money for purchases.

Here are seven things you can do to make sure your credit score stays healthy:

1. Pay back your debts on time.

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Considering a used luxury vehicle? Here are some tips.

Picking out a luxury car isn’t quite the same as looking for a standard car. Even more so when it is a used luxury car.

Know your options

A big consideration of luxury cars is the options and features that you desire. These are more limited with a used vehicle, but the savings are great.

Be patient and shop around

First thing’s first: decide what you want and identify your needs. This includes year, make, model, color, and options. What is the most important factor to you? For me, I want a black sportscar with dark interior.  As a young, unmarried woman without children, that fits my lifestyle. This may not work for you, however. Continue reading

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Keep Passwords Strong, Secret, and Safe

Here are some helpful tips to create your new password – and to keep your account information safe:

Keep your computer and mobile devices’ content secure by maintaining strong passwords, making them secret, and keeping track of them. A compromised password could lead to identity theft or other dire consequences. A criminal could use your information to apply for credit cards or mortgages, or to make online purchases or other transactions.

The first rule of thumb for creating strong passwords is to use a different password for each of your accounts. It may be easier to keep track of just one password, but if a crook discovers that one password, he or she can access all of your accounts.

The second key to a robust password is to make it lengthy. At a minimum, your passwords should be eight digits long, and 14 digits or more is ideal. Using the greatest variety of characters possible in your passwords—letters, numbers, symbols—makes them harder to guess or uncover with malicious software.

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Infographic

For more information on chip (EMV) cards visit our website.

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SIU Credit Union to Host Free Credit Seminar

Carbondale, IL – May 13, 2015  SIU Credit Union will host a FREE credit seminar, “Power Over Debt: Break the Debt Cycle”, in Carbondale on Wednesday, June 17 from 6 to 8 pm.  Learn if debt is dragging you down and how to take control of debt before it takes over your life.

Get Out of Debt, Stay Out of Debt

Get Out of Debt, Stay Out of Debt

Do you know how much you owe? Have you figured your own “safe” credit limit? Do you know what percentage of your total credit limit is safe to charge? Do you know the warning signs that you may have too much debt?

SIU Credit Union wants you to take control and take positive steps to manage your debt. At the seminar, you’ll learn about the different kinds of debt, benefits and costs of credit, warning signs you have too much debt, what’s in—and how to get—your credit reports and credit score, how to tackle your debt, how to rebuild good credit, and—most importantly—how to stay out of debt. Speakers include Tiffane Pelzer, SIU Credit Union Loan Manager and Michelle Rice from TransUnion Credit Monitoring.

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Busy Holiday Week

It’s been a busy holiday week for SIU Credit Union. Yesterday, I delivered a truck load of food collected by credit union employees to the final collection point of the SIU Credit Union, Withers Broadcasting Holiday Food Drive. I’m told that donation levels are greater than last year. All the food collected will fill food pantries throughout Southern Illinois.

Yesterday also started our sponsorship of Pat’s Kids. For many years, SIU Credit Union has been a major sponsor of this charity that gives abused and underprivileged children a chance to have a Christmas. The stories we hear from the kids are heartbreaking. We’re happy to be a part of this wonderful charity. If you are able, please consider dropping off a check, made payable to The Poshard Foundation, at any SIU Credit Union location or mail to River Radio, attention Pat Benton, 1431 Country Aire Drive, Carterville, IL 62918.

I also made my monthly visit to the Murphysboro Illinois Youth Camp. I spent the morning talking to the inmates about budgeting, credit scores and loan interest rates. This was a good group of kids who had many intelligent questions. We compared interest rates on a car loan for a person with good credit compared to someone with poor credit. The look on their faces told me they got my message.

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