Here is the key to your Financial Toolbox

Thursday, September 15, 2011

Are You Working for Your Financial Institution or is Your Financial Institution Working for You?

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!

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.
Go To Jobs For Smart People by Clicking Here!
Important: Read this Artical on Social Security posted on Yahoo Finacne!

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.

Read More by Clicking Here!

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