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Image source: Getty Images There is a danger in having no credit score at all. Key points Financial expert Dave Ramsey prides himself on having no credit score. While he might get away with not having one, it may not work for the average consumer. Your credit score is not just a random number. Rather, …

What credit rating is needed to refinance? The minimum credit score to refinance varies by lender and type of loan. For example, you need a minimum credit score of 580 to refinance an FHA loan or 620 to refinance a conventional loan. But some lenders might set a higher minimum of, say, 600 for FHA …

Source: Shutterstock. In letters to House and Senate committees, the CUNA and 50 credit union leagues argued that the CFPB was not fulfilling its mission “to make consumer financial markets work for consumers” because its leaders do not take the time to hear the concerns or priorities of credit unions and other financial institutions that …

Now Credit Union CLEVR Money, the credit union of Preston, Blackpool, Fylde, Wyre and Lancaster, has warned of the financial disaster many could face if they resorted to high interest loans. The warning comes as the Credit Union, a nonprofit with some 5,000 members, reported receiving a growing number of loan applications. Register to our …

Image source: Getty Images A bad time to buy can have a big impact on your credit score. Key points Using too much of your available credit can cause your utilization rate to increase. A utilization rate above 50% caused my credit rating to drop by 25 points. Full payment of the balance completely canceled …

Source: Rawpixel.com/Shutterstock The “great wealth transfer” is approaching, with projections calling for more than $84 trillion in assets to be transferred to heirs or donated to charities over the next few decades. Advisors are currently talking with clients and their families about their goals as this transfer approaches, but there are key generational differences that …

Image source: Getty Images Building a good credit score takes time, diligence and sometimes even sacrifice. But tearing up your score – well, unfortunately, you could do that in a single day. Yes, it doesn’t take much to move your score from one credit to another. Luckily for you, the most credit-damaging mistakes aren’t exactly …

When applying for car financing, the last thing you want to present to the bank, car dealership or private lender is a bad credit score. Whether you forgot to pay a utility bill a year ago or have unpaid student debt, things are happening. Luckily, you can still get car financing even with a bad …

The organization, which offers savings and loans and helps people avoid loan sharks and high-interest payday loans, has a number of open seats both on the board and in various committees. David Owen, the credit union’s new president, has called for new directors and non-executive advisers to join its board. Councilor Owen said, “I am …

Announcing the new CEO of the credit union. (Source: Shutterstock) In January 2023, Ken Senus will become the Chairman and CEO of the nation’s first credit union, St. Mary’s Bank in Manchester, NH He will succeed Ronald H. Covey Jr., who announced at the credit union‘s annual meeting on April 13 that he plans to …

Photo: Jirsak/Shutterstock Stephen Owen will become chairman and CEO of the $2.1 billion First Entertainment Credit Union in Hollywood, Calif., the board announced last week. He will succeed Charles Bruen, who was named interim CEO in February after replacing Lisa Landt, who served as CEO of First Entertainment from 2020 to the end of last …

Source: Shutterstock. Big things are happening for a credit union in a small town in central Georgia. Robins Financial Credit Union, located in Warner Robins, Georgia, became the latest credit union to reach $4 billion in assets this year. In a statement released by the credit union on Wednesday, the asset milestone was reached as …

Blackpool solicitor and adviser David Owen left his deputy role to lead the board of the organization which helps people save and stay away from loan sharks, while the banker at retired Philip Owen was appointed Treasurer. Councilor David Owen, who was a representative on Blackpool Borough Council for 43 years, has been a member …

USF Federal Credit Union (USF FCU) opened in Odessa. “The Odessa/Land O’ Lakes/Lutz region is growing by leaps and bounds,” said Bill Steiger, director of brand strategy and marketing communications for USF FCU. “We thought it was a perfect place to open a branch and enter this market.” USF FCU was founded in 1959 by …

Credit cards can have serious consequences on your credit and financial health. The two most common types of store cards are open-loop and closed-loop cards, also known as on-grid and off-grid cards. Open-loop cards, sometimes called in-network or co-branded, usually bear a Visa, Mastercard, American Express, or other major card issuer logo and can be …

Source: Adobe Stock. As EV sales buzz, CU Direct is bundling a feature that will make it easier for credit unions to participate in buyer loans from Tesla, the largest maker of electric vehicles. Bob Child, chief operating officer at CU Direct, said Irvine, Calif.-based CUSO expects a system to work later this year that …

WEST ROCKHILL — For newborns and their moms, the first hours and days together mean everything. Now, thanks to the generosity of the American Heritage Credit Union, caregivers at Grand View Health can help mothers and babies form deeper bonds from day one. The credit union has donated more than $60,000 over the past two …

A personal loan is a very popular type of loan due to its variety of uses and relatively easy availability. It’s a great option for financing unforeseen financial needs (or emergencies), given that it doesn’t require any collateral or collateral and the approval process is easier compared to other loans. Given its popularity, most lenders …

Image source: Getty Images In many cases, yes, this high balance affects your score. Key points Credit usage is an important factor in calculating a credit score. If you owe a lot of money on your cards, your score could suffer, even if you make your minimum payments on time. There are many reasons why …

Martin Lewis explained what it means when your credit score has dropped. The finance guru reassured cardholders that it might not be as damaging as they might think, in a video posted to MoneySavingExpert’s YouTube channel. Explaining what a credit score is, Martin said: “In the UK you don’t have a credit score. There is …

SALT LAKE CITY (ABC4) — As tax day approaches this year, you might be wondering how the locals and Utah folks spent their child tax credit. Data from LendingTree’s QuoteWizard provides insight. Nationwide child tax credits were increased in 2021 by the American Rescue Plan Act, which funded many programs designed to provide financial relief …

Are you one of those people who likes to bring a lawn chair for concerts at the MIDFLORIDA Credit Union Amphitheater? You can save quite a bit of money if you relax on the lawn instead of being in one of those assigned seats under the roof. In fact, just a few weeks ago we …

Source: Shutterstock. The $305 million Marshall Community Credit Union in Marshall, Mich., has named Corrie Rozell as president and CEO. Rozell, who has served as interim CEO since January, took over from former CEO Heather Luciani, who is now chief strategy officer for the $1.4 billion Honor Credit Union in Berrien Springs, Michigan. Corrie Rozel …

A new line of products aimed at potential borrowers who have poor credit due to issues such as previous indebtedness was introduced by Precise Mortgages. These products are designed to provide people who have credit problems due to past county court judgments against them or debts they are currently paying off under a payment plan …

Spire Credit Union managing director Dan Stoltz is also the institution’s chief business evangelist, graciously visiting customers in Spire’s blue 1952 Ford pickup truck. Stoltz, 62, meets and greets at St. Paul Saints games, client and small business home improvement projects, Salvation Army events and other community fundraisers. Since 2011, he has starred with real …

Spire Credit Union managing director Dan Stoltz is also the institution’s chief business evangelist, graciously visiting customers in Spire’s blue 1952 Ford pickup truck. Stoltz, 62, meets and greets at St. Paul Saints games, client and small business home improvement projects, Salvation Army events and other community fundraisers. Since 2011, he has starred with real …

Source: Shutterstock Credit unions have always distinguished themselves from their corporate competitors by emphasizing the sense of purpose and the member. Organizations that don’t focus on a sense of purpose will not survive. Economic realities and technology are constantly changing the business landscape. If you don’t use new technologies today, you risk being defined as …

THE cost of your car isn’t just the amount you paid to get it out of the dealership. Auto insurance is required in most states to drive, and it’s not always cheap. 1 Auto insurance is a big annual expense for drivers, and a few key factors can change premiums by hundreds of dollars The …

New York, headquarters of the Municipal Credit Union. Source: Shutterstock Dear Editor: As for Peter Strozniak’s March 7 article, “A New Beginning for MCU with a New Board, Leadership Team, and Oversight Committee,” all of us at Municipal Credit Union appreciate the coverage. While I’m the only MCU person named in this article — and …