What are the Benefits of Using a Credit Union?
More people than ever are flocking to credit unions for their banking needs. In fact, in 2020 alone, more than 274 million people worldwide were members of credit unions, and by 2021, credit union assets skyrocketed past the $2 trillion mark as they took the lead in the financial services sector. Because credit unions are so consumer-oriented, this trend is no surprise. People are looking for financial institutions that truly care about their customers—an element at which credit unions tend to excel. Before you dive into credit union membership, let’s explore the benefits of using a credit union.
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Home Equity Loans, Mortgages, and HELOCs: What’s the Difference?
Navigating the world of real estate financing can feel like a labyrinth of terms and products. You've likely heard the names - mortgages, home equity loans, and Home Equity Line of Credit (HELOC) - but distinguishing between them can often be a source of confusion.
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What to Do If You're a Victim of Fraud: A Comprehensive Guide
In today's digital age, where technology has brought convenience to our fingertips, it has also given rise to a darker side – fraud. Fraud comes in various forms, from credit card bank fraud to online fraud and identity theft. Falling victim to such schemes can be distressing, but it's essential to know that you're not alone and there are steps you can take to regain control of the situation. In this guide, we'll walk you through the essential actions to take if you find yourself in the unfortunate position of being a victim of fraud.
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The Five Biggest Factors That Impact Your Credit Score
Your credit score is a crucial numerical representation of your financial health. It determines your ability to secure loans, mortgages, and favorable interest rates. A good credit score can open doors to various opportunities, while a poor one can limit your financial options. Understanding the key factors that influence your credit score is essential for making informed financial decisions. In this article, we'll delve into the five most significant factors that affect your credit score and explore how to build credit and improve your score to secure a brighter financial future.
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Revolutionizing Banking: The Digital Transformation Reshaping the Financial Landscape
The traditional banking landscape is undergoing a profound metamorphosis, driven by the rapid advancements in digital banking technology. From digital banking and mobile apps to artificial intelligence and blockchain, the banking industry is embracing innovation at an unprecedented pace. Here we explore how digital technology is ushering in a new era of banking, transforming every facet of the industry, and revolutionizing the way we manage our finances.
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3 Ways Your Local Credit Union Can Positively Impact Your Community
In 1953, Walter York started Steel Parts Credit Union (now Encompass Credit Union). His reason for doing so was to help his fellow steelworkers – and it was his passion for helping his community that drove him to create an entity that is proudly part of the top 20% of credit unions in the country.
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