SIU Credit Union Blog

All You Need To Know About The Ticketmaster Breach    

Hackers are at it again! This time, they’re skimming information on third-party sites in what may be the largest credit breach ever.

To that end, in late June, Ticketmaster announced that several of its sites had been compromised. Recent research, though, has revealed that this breach was only a small part of a massive credit card-skimming hack that may have affected more than 800 e-commerce sites.

Here’s what you need to know about the Ticketmaster breach:

What happened?

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6 Big Ways Your Credit Can Affect Your Life

Your credit score isn’t an arbitrary three-digit number. It’s based on a summary of your history with credit — and it sends a strong signal about how you’re likely to handle new credit.

Your credit history can directly impact what you buy, where you live and even where you work. It can make important transitions, such as getting a new apartment or buying a home, smooth or challenging. A good credit score can even widen your dating pool.

Here are six ways your credit standing can affect your life.

1. Buying a home

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How Many Credit Cards Should I Own?

The importance of maintaining a good credit score is old news. As you likely know, the higher your score, the more attractive you will be to potential lenders, making larger loans and the best interest rates more accessible.

Hopefully, you’re working hard at keeping that score high by using your cards and paying your bills on time. You may be wondering, though, if more is better. Should you open a few more and get more available credit? Or, are too many cards a liability to your score?

Read on for the answers to all your questions.

 

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Affordable Ways to Refresh Your Home

Home improvements can rejuvenate a stale dwelling. But remodeling and renovations could set you back thousands of dollars for each room.

A “midrange minor kitchen remodel” — including hardware, countertops, flooring and a refrigerator — is about $21,000, on average, according to Remodeling magazine’s 2018 Cost vs. Value report. But with the right approach, you can give your abode some TLC without busting your budget.

“If you’re strategic with the planning, especially if you’re willing to put in a little sweat equity, there are definite simple fixes that you can make,” says Dan DiClerico, a home expert at HomeAdvisor.

Try these ways to update your home for less. Continue reading

It’s Not All About Money: Financial Wisdom for Young Adults

At 21, you’re a financial adult. But chances are you still don’t know what you don’t know.

We asked personal finance experts and financial planners what newly minted adults need to know about money. Their bottom line: Be sure your balance sheet includes some joy, too.

How to think about money

A job you love saves money. How you earn a living affects how you spend, says Kathy Kristof, a longtime financial journalist and editor of SideHusl.com, a website that evaluates gig opportunities. If you hate your job, you’re likely to spend more to distract yourself from all you put up with at work.

Spend on joy. Diane Harris, editorial director of Considerable, a financial and lifestyle site launching later this summer, and former editor-in-chief at Money, says she wishes she had understood at 21 that spending on experiences and people you love brings more joy than accumulating stuff. Budget for happiness.

Buy freedom. Delaying gratification is hard. But savings give you the means to act when you need to, says Krista Smith, a fee-only certified financial planner in Atlanta. “Your savings are often what saves you when you finally get the courage to leave a bad relationship and need to pay a security deposit on a new apartment, when you bust a tire on the highway, or when a family member’s health is failing and you need a plane ticket NOW.”

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Technology Upgrade

Technology Upgrade TO ENHANCE MEMBER SERVICE

SIU Credit Union is engaging in a technology upgrade June 29- July 1. While this will result in a slight inconvenience to our members, we are hoping to minimize the impact as much as possible. Please review the information below:

What is the purpose of this upgrade?
With new technology comes additional security features and faster, more convenient member service. We recognize that our members are stretched for time and aim to make banking transactions, loan processing and financial services as efficient and effective as possible. We aim to help you conduct your financial activities more quickly and easily than ever before.

How will the upgrade impact the hours of operation at the credit union?
SIU Credit Union branches will be closed Saturday, June 30th. The upgrade will kick off after our nightly processing completes on Friday, June 29th.

What resources are available for me to access additional information?
Call center staff will be available during normal business hours (8-5 Mon-Thurs., 8-6 Fri.). Additionally, we will provide periodic updates on our Facebook page (www.facebook.com/siucreditunion) and on our website (siucu.org/upgrade) over the course of the weekend.

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