Is Refinancing Right for You?

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April 2009

Are you tempted to refinance with interest rates at historic lows? Or are your loan payments stretching your budget? How do you know if refinancing is right for you? This month's report looks at reasons why now may be a good time to refinance your mortgage or other loans.

Is refinancing right for your circumstances?

• Is your loan’s interest rate higher than current loan rates? Do you have equity in your house or property (that means, do you owe less than the current value of your property)? Are you current on your loan payments? If you can answer yes to these questions, then you may wish to consider refinancing.
• Have you fallen behind in making your mortgage payments? Are you having financial difficulties in other ways, perhaps in paying other bills or loans? If you answer yes to either of these questions, then conventional refinancing may not be the best option for you. If you are not already discussing your problem with your lender, the time to do that is now. Some lenders may consider loan modifications as one option to help delinquent and struggling borrowers. If your loan is with CCU, they encourage you to call right away. CCU’s Member Assistance program offers assistance to help members find the best options based on their individual circumstances.

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Using Debit Cards Wisely for the Most Benefit

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March 2009

Debit cards, also known as check cards, offer convenience in managing personal cash flow. In just a few days, I’ve observed people using debit cards to pay for purchases ranging from a pack of gum, bottle of water or cup of coffee to larger purchases such as weekly groceries, a tank of gasoline, or a set of new tires. According to surveys, many people are embracing debit cards because they feel that they can better track where their money goes and that they have less risk of incurring debt because purchases are deducted directly from their checking accounts. Used wisely, debit cards can offer these benefits and more. Like any tool, however, debit cards may present some pitfalls to users who aren’t careful or adequately alert. In this report, we’ll look at ways to ensure wise use for the best benefits from debit cards.

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Protecting Yourself Against Attacks on Computer and Personal Privacy

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February 2009

In this challenging economic environment, you may be concerned about job, retirement or general financial security. Eager to take advantage of your legitimate concerns, a varied group of scammers and con artists are targeting your money and your personal information using a variety of online tactics. By taking a few simple steps you can protect yourself from even the latest ploy. This month's report describes the most common scam methods and steps you can take to avoid being caught.

Dangers to your computer and personal information

Scammers continually change their tactics in order to steal your personal information. Malware, phishing attacks, and email scams are the primary tactics that they use.

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Saving Money on Entertainment and Shopping

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January 2009

The holiday season is over. Holiday shopping and the effects of the poor economy have emptied wallets. At times like this, you need some entertainment. But can you afford it? You still have year-round shopping needs. What’s the best way to save money? This report offers tips to help you enjoy good times and good shopping at reasonable and reduced costs.

Saving on Entertainment

When the budget is tight, many people cut back on entertainment. But let the good times roll with these tips to save on books, DVDs, movie tickets, dining, and more.

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Avoiding "Loan" Schemes and Other "Services" Risky to Your Financial Well-being

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December 2008

Economic hard times, such as the nation is now experiencing, bring out the schemes and scams that aim to make a buck on people who may be feeling pressure financially and who are unwary. In the last few weeks, I have seen dozens of ads and email solicitations for “opportunities” that could wreck an already stressed budget. So this month’s report details 1) some schemes and scams to always avoid and 2) some services that may be helpful in certain circumstances but that you must choose wisely how to use.

Read more: Avoiding "Loan" Schemes and Other "Services" Risky to Your Financial Well-being