Bank Note Blog

In our modern society, where connections are digital and distances seem to shrink, the value of a close- knit and thriving community cannot be underestimated. As members of Howard, Tipton, and Clinton counties, Encompass Credit Union feels strongly about community support, offering actionable ways to make a tangible difference. From the exciting Tipton County Fair to the heartwarming ’Tis the Season event, and everything in between, Encompass empowers their employees—and you—to play an active and meaningful role in nurturing and enriching our community for the good of all.

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There is a lot of buzz about credit scores these days. In fact, in 2021, the average credit score increased to an all-time high of 716, moving up 27 points since 2010, indicating that more Americans than ever have good credit.

A credit score is a numerical expression based on an individual's credit history that is used to determine their creditworthiness and ability to access loans and other financial services. It is a three-digit number ranging from 300 to 850, with higher scores indicating better creditworthiness. A person's credit score is calculated by considering their payment history, current debt levels, types of accounts owned, length of credit history, and more. Credit scores are used by lenders to determine the risk associated with lending money or providing other financial services to an individual.

A good credit score is important for a variety of reasons. It can help you get approved for loans and mortgages, secure better interest rates, and even get approved for certain jobs. It is also an indication of your financial responsibility and trustworthiness. Having a good credit score can open doors to many opportunities that may not be available to those with bad credit scores. Additionally, it can save you money in the long run by allowing you access to lower interest rates on loans and other financial products. For this reason, it is important to check your credit score often to ensure you are in good shape.

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In today's digital age, the convenience and accessibility of the internet have revolutionized the way we  live, work, and communicate. However, along with these advancements come new challenges, one of  the most significant being the rise of online fraud and scams. These malicious activities can impact  anyone, regardless of age or technological proficiency. For example, ecommerce fraud has cost  consumers more than $200 billion in 2023 alone. In this comprehensive guide, we'll explore various  types of online fraud and scams, how to spot them, and most importantly, how to prevent falling victim  to them. 

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For most people, buying a home is arguably one of the biggest financial decisions they'll make in their lifetime. It’s a decision that involves planning, saving, and a lot of paperwork. The process can be exciting, full of hope and anticipation. It can also be nerve-wracking, full of uncertainty and confusion. One of the critical parts of this journey is applying for a mortgage loan.

At Encompass Credit Union, we understand that the mortgage process can seem overwhelming, especially for first-time homebuyers. That's why we're here with a step-by-step guide to walk you through how to apply for a mortgage loan with us.

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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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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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