Author: Lily Richards - Page 4

The Rise of Peer-to-Peer Payment Scams

With the advent of payment apps like CashApp, Venmo, and Zelle, sending and receiving money is now quicker and easier than ever. Whether splitting a dinner bill, sending a friend money for concert tickets, or handling your portion of rent and utilities, peer-to-peer payment apps provide convenient payment with just a few taps. However, with convenience sometimes comes risk. A new scam is making the rounds targeting users of these peer-to-peer payment apps. This scam involves sending “accidental” payments to unsuspecting users. It may seem harmless at first glance, and you may even think, “What’s so bad about someone accidentally…

October 17, 2024Security Center 2 Comments

One Minute Read: Are Credit Union Credit Cards Better?

When deciding between a credit card from a credit union or from a big bank, it’s essential to look at the key differences. Credit unions are not-for-profit, meaning they typically offer lower interest rates and fewer fees. Many credit union credit cards come with better terms for balance transfers, rewards, and customer service tailored to their members. Additionally, credit unions prioritize community and member well-being, so you’re more likely to experience personalized service. The PEFCU Visa® Credit Card offers 9.90% APR*, and you get one point per dollar on purchases. You can redeem points for merchandise, travel, gift cards, and…

October 8, 2024One Minute Reads No Comments

Case Closed: Protecting Yourself from Court Scams

It’s unfortunate, but you must give it to them – scammers are creative. Just when you thought you’d seen every ploy in the book, a new wave of scams emerges that are hard to resist. Why? Because they threaten legal action right away. Fraudsters are impersonating the courts, and their messages are very convincing. On top of that, it’s your curiosity and fear that drives you to follow their instructions. The best way to beat scammers and avoid their games is to understand how their schemes operate. Understanding Court Scams There are two common court scams making the rounds.…

October 2, 2024Security Center No Comments

Home Buying: Psychological Pitfalls to Overcome

Buying a home is a significant milestone, whether it’s your first time or you’re moving for a growing family. The journey is exciting but can also be exhausting and overwhelming at times. In an ideal world, your perfect home would be waiting for you at the perfect price. Unfortunately, reality often presents a more complex picture. Finding the right home demands patience, energy, and compromise. Along the way, you may encounter obstacles that can take an emotional toll, making it easy to become discouraged or make hasty decisions that lead to financial missteps. To navigate this journey successfully, it’s crucial…

September 24, 2024Future Planning No Comments

One-Minute Read: Can a Car Loan be Refinanced?

Absolutely! Refinancing an auto loan is a smart way to potentially lower your monthly payments, reduce your interest rate, or adjust your loan term to better fit your financial situation. If your credit score has increased or if rates have dropped since you received your loan, refinancing could be a great option. At PEFCU, we make the refinancing process straightforward and convenient. By refinancing your auto loan with us, you can take advantage of our competitive rates and flexible terms*. Plus, you can apply easily at PEFCU.com. Ready to see how much you could save? Visit our website today and…

September 17, 2024One Minute Reads, Wallet Wins No Comments

Gen X: Financial Milestones, Challenges, & Solutions

Generation X, defined as the cohort born between 1965 and 1980, is often the forgotten generation. Boomers, Millennials, and Gen Z may dominate the headlines, but Gen X is reaching a pivotal point in their lives. Becoming middle-aged often means balancing a multitude of responsibilities, including raising children, preparing for their college years, planning for retirement, and possibly caring for elderly parents. That’s a lot to juggle financially and emotionally. As the oldest members of Gen X turn 59, retirement may already be a reality. For others, their golden years are just over the horizon. This reality leads many to…

August 27, 2024Future Planning No Comments

Your Guide to Savvy Car Shopping

When you set your sights on buying a new car, a whirlwind of emotions can arise. On the one hand, you’re excited to find and cruise away in your new ride. But on the other hand, you know it’s a big decision that could significantly impact your finances for several years. That’s why it’s crucial to do a bit of homework before you ever step foot onto a dealer lot. A little prep can help to reduce the price of the vehicle, secure better financing options, and put you into a better financial position overall. In this article, we’ll highlight…

August 19, 2024Uncategorized No Comments

Tips to Improve Your Loan Approval Odds

Applying for a loan often feels daunting to many – but have no fear. You can employ several strategies to improve your chances of being approved. Whether you’re looking to finance a new car, buy a home, consolidate debt, pay for education expenses, or borrow for another need, preparing your finances beforehand can make all the difference. Here are some tips to help you increase your likelihood of being approved for your next loan – and how to secure more favorable loan terms. Determine What You Can Afford Knowing how much you can afford to borrow before applying for…

August 14, 2024Borrowing Basics, Wallet Wins 1 Comment

Gen Z: Leading the Way to Sustainable Money Choices

As climate and environmental concerns continue to grow in popularity, Gen Z has quickly become the face and champion of this great movement. While everyone is concerned with the upkeep and preservation of the environment, this generation is leading the way in incorporating alternatives to become more eco-friendly. Their dedication is encouraging many businesses and organizations to change how they manufacture products, deliver services, and operate daily. These changes also include how people can interact with and spend their money through more environmentally friendly methods. In this article, we’ll reveal the impact consumer choices have on the environment, how simple…

August 5, 2024Future Planning, Wallet Wins No Comments

Are Credit Unions FDIC Insured? – One Minute Reads

If you’ve ever wondered whether credit unions are FDIC insured, the short answer is no. However, credit unions have their own equivalent protection through the National Credit Union Administration (NCUA). The FDIC (Federal Deposit Insurance Corporation) insures deposits at banks, ensuring that your money is safe up to $250,000 per depositor, per insured bank. Credit unions, on the other hand, are insured by the NCUA (National Credit Union Administration) through the National Credit Union Share Insurance Fund (NCUSIF). This coverage also protects deposits up to $250,000 per individual depositor. So, while credit unions aren’t FDIC insured, the NCUA provides a…

August 1, 2024One Minute Reads, Uncategorized No Comments

1 2 345