Credit and Loans

Factors that affect interest rates on personal loans

Looking to consolidate debt? Take a vacation? Make a big purchase? A personal loan might be the answer. A personal loan is an unsecured loan that can be used for anything you need that requires a little extra cash. Unsecured means there’s no collateral (like with an auto or home loan). This represents a higher risk to the lender, but that doesn’t mean rates will be sky-high, and interest rates on personal loans aren’t one-size-fits-all.

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Author SAC FCU Managing Editor

Budgeting and Saving

Boomerang kids: Make money changes for your not-so-empty nest

Just when you think your nest is empty, it fills right back up! Adults returning to live with their parents are affectionately referred to as boomerang kids, and while many parents don’t mind the temporary return of their offspring, it can certainly result in extra expenses around the house. Luckily, some small adjustments can keep your once-again-full house from breaking the bank.

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Author SAC FCU Managing Editor

Credit and Loans

What is a home equity line of credit? HELOCs explained.

Maybe you’re interested in adding a deck to your house. Or maybe you want to help pay for your daughter’s wedding. If you’re a homeowner looking to borrow money, a HELOC might be a good option for you. So what is a home equity line of credit? In short, a HELOC is a revolving line of credit you can access by borrowing against the equity in your home. (Equity is the value of your house minus what you owe on it.) You can use these low-interest loans for just about anything, and approached correctly, a HELOC can be a smart way to borrow money: Here’s what you need to know about this kind of loan.

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Author SAC FCU Managing Editor

Identity Protection

Cell phone security: Protect financial info on mobile devices

Mobile banking has revolutionized the industry, giving you the ability to check your balances from anywhere, transfer funds, and even click your way through a loan application.

But along with that convenience and efficiency come risks if your devices aren’t adequately protected. Cell phone security has been a hot topic for the past few years, and for good reason. As people put more of their personal information onto smartphones – including financial data – identity theft can quickly become a danger if a phone falls into the wrong hands. Here are some tips for protecting yourself.

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Author SAC FCU Managing Editor