Why using credit unions is better than banks
Last fall I made change that I wish I had made years ago. Back in June I had started hinting to you as our readers about Credit Unions. Credit Unions are one of the most misunderstood financial institutions that have in recent years come out of secrecy. Everyone was under the belief that you had to be an employee of a large corporation, federal employees, a union member of a specific union, some other special interest group or fraternity. This is not true anymore. Some of today’s requirements are as easy as living in a county, community, being a member of a religious institution, or a community member of commerce to qualify you as a member of a credit union. When looking into credit unions they will tell you what you need to qualify as a member usually by calling them and asking or the requirements are listed on their website.
Making The Difference In Your Financial Interests
I really can put the blame the banking industry for a large portion of my financial struggles. I did not realize that banking could be done as it was in the past where the banks actually looked after the customer until I found out how Credit Unions were taking care of their customers. I am not going to name specific banks but since the banking crash a system dedicated and dominated by to the wealthy has gotten far tighter with credit qualifications and fees for general banking stifling any financial growth from the middle class. They must believe since they are not making interest dollars because of their own poor lending habits they can make it up in general banking fees and credit card interest and fees. I had credit cards with one institution that went from less than nineteen percent annually to twenty-six to twenty-nine percent annually and I while I was carrying a substantial amount of debt on those cards. Yes, it is me the good payer that should bear the brunt of their incompetent banking decisions. Somehow out of the blue I had to come up with another two hundred dollars a month to pay them. I did nothing to provoke it and I had at the time a mid-seven-hundreds credit score. This bank had the audacity to use our federal tax dollars to bail them out of their poor lending practices and wanted to make up for its profit losses on me and others like me.
For us the dwindling middle class it is time to say no to these Intuitions and the way they treat the people that have regular incomes. Actually I am not sure the large banks really want our business any way but as long as we let them get away with it they will. On the sidebar we offer lending solutions to people paying unfair rates on things from car loans to mortgages and help in solving other debt problems. I also do want all our readers to know we will never advertise Payday of Title Loans which in my opinion are predatory loans and offer no permanent solution to someone or a family struggling financially. Title Loans and Payday Loans are financial suicide to the financially strapped and venerable who use them and I promise sometime soon I will have a blog post berating and condemning such practices. These institutions could make me canonize commercial banking into Sainthood and you already know how I feel about some large commercial banks. Enough of that for now I feel a rant coming on!
Last fall I joined Trumark Federal Credit Union. Since the time I have joined Trumark I have replaced most of my high interest debt with lower interest debt without the struggle or the hard Inquiries to my credit report. Hard Inquires go on your credit report and can lower your credit score which as a regular practice by large banks especially in the last three years. Other financial institutions do not always use hard inquiries if you have a good credit score. You will understand more about hard inquiries if you have credit monitoring because when there is a hard inquiry your credit monitoring service will send you notice. Anyway, because of my financial reorganization that Trumark FCU helped me with now every time I make a payment, my payments are now making true headway toward the principal (the money owed) instead of making faceless heartless institutions and their stockholders wealthier. This can be the most important article or post you will read this year. This is really worth doing the research on and making the move to a better financial future. Even if your credit is not good enough at this point to get a loan the way a credit union treats you with personal service and low banking fees with fairer banking practices can start making the difference for you immediately. A Credit Union will help you in your effort to financial recovery easier and when one day you start qualifying for loan or better rates again. Just remember you will be already established with a Credit Union who is willing to help you with advice and education. The best part is, I like working with people with warm blood running through their veins instead or finding some angle to profit from you. You can start with a credit union with a small minimum deposit into a general share fund which is like a personal savings account. This is a small fee of around five dollars usually onetime fee held in escrow in your General Share account. A small price to pay for a big change in your financial well-being.
To find a credit union in your area where you will find institutions and requirements to join Click Here!
This Week’s Rant
I cannot hold off on this one. Title and Payday loans if you are involved in them as soon as you can get out of them. Credit Cards or anything that is thirty percent interest or more try to find a way out. Just figure, you have a loan for one thousand dollars @thirty percent interest you are paying three hundred dollars interest on that principal if you do not pay that money back in that year. Even the institution seems to be an up and up financial institution morally and ethically any more than twenty five percent interest to me is predatory lending. The only thing worse than predatory lending is loansharking. If you have some collateral and a job you may be able to find someone you know to help you for fifteen percent or less annually depending if you know who investor is. Or, maybe someone you know knows someone that will invest in you. There are people out there that will help out hard working people like you and I am not talking about loansharking or pawning either. This process is called t is called taking back a Note or private lending. People who take back notes know how to draw up a legal binding contract on holding something of value as collateral. These people have money to lend because they are willing to take some risk to make a little more than what they would make if their money was only drawing interest in the bank. What you may give up as collateral a bank or financial institution may not have interest in holding as collateral but still has a real value that if it can be appraised and can be sold for recovery of funds in the result of your possible default for nonpayment. It can be of interest to someone willing to take back a note or give you a loan on that collateral. You have to remember financial intuitions are not in the business of retailing they are in the money lending business, so some things of value on the market are of no interest to financial intuitions but may be of value to other investors. You can look through the phone book but these investors are usually private individuals and are usually found by the reference of other people.
One thing you have to consider with these loans you is you will only get fifty to seventy five percent of the value of your collateral even if it is something that will gain value as time goes on. Collateral as your guarantee to pay and if you do not pay the lender and default the holder has the right to sell the collateral and be compensated for his or her efforts in trying to help you. One last thing while most investors are legitimate in their dealings consult a legal expert before getting into any contract. Read to or have someone read the contract who knows contracts. They will make you aware of any concerns you may have to question before proceeding. We do offer Just Ask on the sidebar who may be able to help you.
Job Seekers Check Out This Website
While I was going through the Statistics for this blog I noticed that some individuals have clicked on Finding Financial Freedom. I appreciate that a job seekers website would advertise this blog so I want to reciprocate by helping our readers with the Jobs for Smart People website. In investigating this website there are several other websites for job seekers within this website and there are some skilled labor jobs within those websites.
Read this Article on Social Security Posted By Yahoo Finance
Here is information that everyone should know about the current statues of Social security. Get Information on what you should know about the retirement age with information of special interest for those who are waiting for or have applied for disability benefits.
This Week’s Money Making Tip
Without adding too much of a review of the previous weeks we are still going to help you with your e-mail list. This is the most important step in starting an online and off line business. Businesses have been using mailing list long before the Internet was even thought of as a marketing tool. The only differences between snail mail and e-mail are speed of the mail delivery and the cost of sending your mail. The USPS is in trouble because marketers are using the very efficient and inexpensive e-mail software to deliver mail to interested readers and consumers so why not make that you. My suggestion is to make up a Letter or Newsletter helping people save money in their daily lives hobbies products services and more. I have suggestions for you to start with and you can expand as you gain a bigger audience or grow your list. This week we are going to concentrate on how to grow your list using services like A Weber and Get Responce which I use both in different ways. The choice is yours as we are going to give you those links in this post to sign up with one or the other. As a benefit along with your monthly membership both A Weber and Get Responce will also frequently update you on ways to use and grow your list. As you know we do the research for you in this blog but we do not interfere with what professionals can teach you. I go through a lot of coaching and training myself I am going to share some of my coaching and training with you to help you get started. So take the time to learn from the developers of e-mail marketing and grow your business for under twenty dollars a month.
For all those who have started manually growing your lists. It will take you some time to transfer your list from the list you started to the list software. However, my suggestion to everyone is to start with Constant Contact. The reason why is you can use your g-mail address to start (the best free e-mail to use for starting a business) or any other free e-mail service for mailing your e-mailings. Get Responce works better with free e-mailing services where A Weber prefers you use paid an e-mail service. Paid services may be a little more professional but try to remember you are just starting out and paid e-mail services may not be in the budget just yet. For those of you who are more patient and will continue e-mailing manually for a while I will suggest A Weber for those of you who may consider getting a URL or a web-address with your own e-mail address. So take some time and jot down some web-addresses that may best describe what you are trying to market or will best suit you on the Internet as you Internet identity.
This week we are going to add My Shopping Genie to the ways you offer people on your list of ways to save money. This is the most expensive way of starting but is one other free product you can offer your audience. As your list grows you will also want to start recruiting others to recruit people to the services like Customer Advantage, That Free Thing, My Shopping Genie. Just remember to get the confidence of your audience before you try too many attempts at recruiting. A Weber and Constant Contact will show you how to set up your e-mails to build the confidence of others having them use your services to help your business grow while you show others how to make money by referring their friends to your services through them in their own business the same way you started. Teaching people how to succeed is a very powerful tool being used in marketing today and offering some of that information for free will help you attract an audience. This takes time but it works going back to the theory of starting at home part-time and building a future instead of just taking a part-time job outside your home. This way you are investing time in yourself and your future, you can roll with the punches as you learn, you will see your enterprise will grow as you grow and you cannot do build a future and a business with a part-time job away from home. All you do is make more money to spend of pay bills.
To Look into the My Shopping Genie Opportunity
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blaine@findingfinacialfreedomblog.com or by phone @ (484) 868-2588.
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