How to Score a Better Deal on Your Next Car 

Buying a car is an exciting time. There are so many possibilities! But, although your heart may be into the shiny sports car on the lot, your mind tells you a nice, modest sedan is actually what you can afford. This guide will help you focus so you can score a better deal the next time you buy a car.  Focus on Price First  Buying a car may be serious business to you, but the salesperson at the lot may view selling a car as a game. Their goal is to score the best deal for the dealership… and a higher commission check for themselves. Your mission,…

October 4, 2021Borrowing Basics, Wallet Wins No Comments

Buying a car is an exciting time. There are so many possibilities! But, although your heart may be into the shiny sports car on the lot, your mind tells you a nice, modest sedan is actually what you can afford. This guide will help you focus so you can score a better deal the next time you buy a car.  Focus on Price First  Buying a car may be serious business to you, but the salesperson at the lot may view selling a car as a game. Their goal is to score the best deal for the dealership… and a higher commission check for themselves. Your mission,…

How to Boost Your Credit Score for Better Rates

It’s usually not until you apply for a loan that you realize just how valuable an excellent credit score can be. Lenders typically price loans based on your creditworthiness. Lower credit scores lead to higher interest rates. The difference between a C and B credit score, or B and A, could mean saving hundreds, or possibly thousands of dollars in interest, depending on the size and length of the loan.  You may feel that lenders are punishing you, but the reality is that financial institutions are trying to protect themselves from potential losses. Your credit score gives them a bird’s-eye view of your money management abilities. Lenders will perceive you as a higher risk if you struggle…

September 20, 2021Borrowing Basics, Wallet Wins No Comments

It’s usually not until you apply for a loan that you realize just how valuable an excellent credit score can be. Lenders typically price loans based on your creditworthiness. Lower credit scores lead to higher interest rates. The difference between a C and B credit score, or B and A, could mean saving hundreds, or possibly thousands of dollars in interest, depending on the size and length of the loan.  You may feel that lenders are punishing you, but the reality is that financial institutions are trying to protect themselves from potential losses. Your credit score gives them a bird’s-eye view of your money management abilities. Lenders will perceive you as a higher risk if you struggle…

National Financial Awareness Day 

At PEFCU, we aim to provide our members with financial education so you can live your best financial life. August 14 is National Financial Awareness (NFA) Day. It’s a great day to consciously think about your finances and make sure you’re on the right track. The origins of NFA Day are unknown, but the goal of it is to help people develop and instill good financial practices that will solidify their current financial status and serve them through retirement.  Taking control of your finances can seem overwhelming, but everyone has the capacity to learn sound financial principles and save up. Just making small changes to our daily habits can…

August 9, 2021Wallet Wins No Comments

At PEFCU, we aim to provide our members with financial education so you can live your best financial life. August 14 is National Financial Awareness (NFA) Day. It’s a great day to consciously think about your finances and make sure you’re on the right track. The origins of NFA Day are unknown, but the goal of it is to help people develop and instill good financial practices that will solidify their current financial status and serve them through retirement.  Taking control of your finances can seem overwhelming, but everyone has the capacity to learn sound financial principles and save up. Just making small changes to our daily habits can…

10 Things to Do If You Lose Your Wallet

You don’t think it will ever happen to you — and then it does. You lost your wallet. And you didn’t even realize it was missing until you needed it the most.  You may naturally want to panic, but simply stay calm and take these ten steps:  Call Your Debit Card Issuer If your wallet is lost or stolen, this should be your first step: Call the financial institution that issued your debit card so that you can stop anyone who may have it from doing a lot of damage. If your PEFCU Visa® Debit Card is missing, you can call our Member Contact Center at (800) 226-6673…

August 8, 2021Wallet Wins No Comments

You don’t think it will ever happen to you — and then it does. You lost your wallet. And you didn’t even realize it was missing until you needed it the most.  You may naturally want to panic, but simply stay calm and take these ten steps:  Call Your Debit Card Issuer If your wallet is lost or stolen, this should be your first step: Call the financial institution that issued your debit card so that you can stop anyone who may have it from doing a lot of damage. If your PEFCU Visa® Debit Card is missing, you can call our Member Contact Center at (800) 226-6673…

What Parents Need to Know about the Advance Child Tax Credit

Brought to you by KOFE, Knowledge of Financial Education The financial crisis caused by the COVID-19 pandemic has been tough on people’s finances and lives overall. Parents, in particular, have faced some monumental challenges—from how to balance homeschooling with remote work to how to manage childcare as they’re called back to the office. In response to these challenges, the American Rescue Plan Act of 2021 expanded the Child Tax Credit, offering advance payments that are set to begin July 15. If you are a parent with qualifying child dependents in your household, these advance payments may provide crucial funds that…

July 14, 2021Wallet Wins 2 Comments

Brought to you by KOFE, Knowledge of Financial Education The financial crisis caused by the COVID-19 pandemic has been tough on people’s finances and lives overall. Parents, in particular, have faced some monumental challenges—from how to balance homeschooling with remote work to how to manage childcare as they’re called back to the office. In response to these challenges, the American Rescue Plan Act of 2021 expanded the Child Tax Credit, offering advance payments that are set to begin July 15. If you are a parent with qualifying child dependents in your household, these advance payments may provide crucial funds that…

Make Sure You’re Immune to These COVID-19 Vaccine “Survey” Scams

Make Sure You’re Immune to These COVID-19 Vaccine “Survey” Scams Scammers take a stab at preying on the public health fears with COVID-19 schemes If you’re fully vaccinated against COVID-19 or will be vaccinated soon, you’re probably already feeling safer. However, once you receive both doses of the Pfizer or Moderna vaccine or the one-dose Johnson & Johnson, you may be at risk for a whole new threat: Scammers after your credit card number or other personally identifiable information (PII) for purposes of identity theft and fraudulent charges. That’s according to the U.S. Department of Justice (DOJ), which recently warned…

June 29, 2021Wallet Wins No Comments

Make Sure You’re Immune to These COVID-19 Vaccine “Survey” Scams Scammers take a stab at preying on the public health fears with COVID-19 schemes If you’re fully vaccinated against COVID-19 or will be vaccinated soon, you’re probably already feeling safer. However, once you receive both doses of the Pfizer or Moderna vaccine or the one-dose Johnson & Johnson, you may be at risk for a whole new threat: Scammers after your credit card number or other personally identifiable information (PII) for purposes of identity theft and fraudulent charges. That’s according to the U.S. Department of Justice (DOJ), which recently warned…

What is a Balance Transfer?   

You may have a lot of balance transfer offers from credit card companies piling up in your inbox or mailbox, or popping up while surfing the net. Some may seem like junk mail, but if you’re in a financial bind, a balance transfer offer could seem like a lifeline. Now let’s find out if these ads really give you the whole truth.   Balance Transfers Move Debt Between Credit Cards  A balance transfer moves outstanding debt from one credit card to a new one. In exchange for moving the debt to a new card, the card issuer promises an incentive, which may be a promotional or introductory low, balance transfer fee waiver, or bonus rewards of some…

June 1, 2021Wallet Wins No Comments

You may have a lot of balance transfer offers from credit card companies piling up in your inbox or mailbox, or popping up while surfing the net. Some may seem like junk mail, but if you’re in a financial bind, a balance transfer offer could seem like a lifeline. Now let’s find out if these ads really give you the whole truth.   Balance Transfers Move Debt Between Credit Cards  A balance transfer moves outstanding debt from one credit card to a new one. In exchange for moving the debt to a new card, the card issuer promises an incentive, which may be a promotional or introductory low, balance transfer fee waiver, or bonus rewards of some…

Teaching Your Child About Money 

For some, discussing money with their young kids can be difficult. For some people, their own financial uncertainties are a barrier to teaching their children about money. Others just may not realize the importance of teaching financial responsibility to children early. Fortunately, as a PEFCU member, you have access to a variety of tools that can help you teach your young child important lessons about money that will help them live their best life.    Now is an ideal time to teach your school child valuable lessons about money. Here are some themes you can discuss:  How to make a budget. Using their allowance, teach your child to budget. A simple budget includes three categories: Savings, Charity, and Spending. Explain to them the importance of “saving some, giving some, and spending some.” It might help to label three different jars for each category as a visual to help your child understand where their money goes each week.…

April 1, 2021Wallet Wins No Comments

For some, discussing money with their young kids can be difficult. For some people, their own financial uncertainties are a barrier to teaching their children about money. Others just may not realize the importance of teaching financial responsibility to children early. Fortunately, as a PEFCU member, you have access to a variety of tools that can help you teach your young child important lessons about money that will help them live their best life.    Now is an ideal time to teach your school child valuable lessons about money. Here are some themes you can discuss:  How to make a budget. Using their allowance, teach your child to budget. A simple budget includes three categories: Savings, Charity, and Spending. Explain to them the importance of “saving some, giving some, and spending some.” It might help to label three different jars for each category as a visual to help your child understand where their money goes each week.…

Designate No Spend Days

How many times a day do you swipe your credit card? It’s common for most people to do this without thinking twice about it. From the coffee you pick up on your way to work to dining out for lunch, you may not realize just how often you’re spending money. The problem is, spending so frequently makes it difficult to save. From tapping your mobile device to making a purchase online, how much are you spending?  Spending Made Easy Makes Saving Difficult  Back when you had to pay in cash for everything, spending was much harder. These days, it’s too easy. You don’t even need to have your card in hand while shopping online, right now! While this helps you…

February 22, 2021Wallet Wins No Comments

How many times a day do you swipe your credit card? It’s common for most people to do this without thinking twice about it. From the coffee you pick up on your way to work to dining out for lunch, you may not realize just how often you’re spending money. The problem is, spending so frequently makes it difficult to save. From tapping your mobile device to making a purchase online, how much are you spending?  Spending Made Easy Makes Saving Difficult  Back when you had to pay in cash for everything, spending was much harder. These days, it’s too easy. You don’t even need to have your card in hand while shopping online, right now! While this helps you…

4 Reasons Your Credit Score Changed

Your credit score carries a lot of weight in your ability to get credit. Not only that, it affects the interest rate you’re approved for, the cost of your insurance premiums—even your ability to be employed in certain occupations.    Many people don’t realize small actions cause ripple effects that can lower your credit score. If you monitor your credit score routinely, you may find these changes perplexing. These are four reasons why your credit score may have changed.  You made a large purchase on your credit card. If you make a big credit card purchase, it increases your Credit Utilization Ratio (CUR). The credit utilization ratio is the amount of credit you have available compared to the amount of credit you use. Ideally,…

February 22, 2021Borrowing Basics, Wallet Wins 2 Comments

Your credit score carries a lot of weight in your ability to get credit. Not only that, it affects the interest rate you’re approved for, the cost of your insurance premiums—even your ability to be employed in certain occupations.    Many people don’t realize small actions cause ripple effects that can lower your credit score. If you monitor your credit score routinely, you may find these changes perplexing. These are four reasons why your credit score may have changed.  You made a large purchase on your credit card. If you make a big credit card purchase, it increases your Credit Utilization Ratio (CUR). The credit utilization ratio is the amount of credit you have available compared to the amount of credit you use. Ideally,…