Credit score provider FICO has released a new statistic showing that young Americans are avoiding credit cards. Since the beginning of the recession, the amount of youths living without credit cards has doubled. At the end of 2012, it was reported that the 16 percent of the 18-29 crowd didn’t own a credit card, up... read more
Summer is the best time to invest in a boat, but finding a way to finance that investment can be difficult. Finding the right loan that fits into your budget, and also has a manageable interest rate can take some time and research. Choosing where to get your loan is also an important aspect to... read more
Students receiving new subsidized loans from the government to finance their college education can expect a rise in interest loans to roughly 6.8 percent. This change is expected to only affect a third of the students who apply for subsidized loans. This means that students will see their debt grow. Financing College Many Americans are... read more
Everyone works towards retirement in the hopes of enjoying their pension and social security and lead peaceful, simple lives. But the money saved from all their years of work sometimes isn’t enough to live comfortably once the working stops. To avoid this situation, many in the U.S. have turned to investing in high interest rate... read more
Americans can expect to see the new, redesigned $100 note in October of this year, the Federal Reserve Board announced this week. The bill's revamped design was made public in 2010, but after difficulties in the printing process, the released date was postponed. One of the most important and noticeable features is the blue 3-D... read more
The recent fertilizer plant explosion in the small town of West has inspired credit unions across the state of Texas to contact the Texas Credit Union Foundation (TCUF) in order to help fellow credit unions and members during their time of need. "In times of crisis, the Foundation is here to help our credit unions... read more
The majority of consumers are more willing to share personal information with their financial institutions in exchange for more personalized services, according to a new study by Cisco. The results from the study predict the future of retail banking, which will ultimately be identified by the degree of personalized services offered. "It might begin with... read more
News about the student loan debt crisis is on the forefront of American media outlets. Collectively, students surpass the $1 trillion debt mark attributed to high interest rates, rising tuition costs, and lower employment opportunities. More and more college graduates are facing monthly student loan payments that turn out higher than expected. The lack of... read more
Credit union trade groups are headed to Capitol Hill to talk about federal tax exemptions as Congress takes on tax reform. They will address the House Ways and Means Committee about the importance of tax reform preservation. The Credit Union National Association (CUNA) and National Association of Federal Credit Unions (NAFCU) launched 11 bipartisan groups... read more
Credit union loan growth is still widely attributed to an increase in vehicle loans, according to April reports. The first few months of 2013 showed surprising growth in the loan portfolio that has credit unions excited about consumer behavior. Dave Colby, Chief Economist of CUNA Mutual was surprised by the vehicle loan portfolio's first quarter... read more
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