Entries from October 2008

Don’t Fall Into the High Rate Trap!

Date October 31, 2008

Do me a favor. Go look through yesterday’s mail and count how many credit card and personal loan offers you received from banks or lenders you’ve never even heard of. And, of course, there are the ones from that “bank” that asks “What do YOU have in your wallet?”. I often wonder how large their […]

If You Have an Account at a Bank – Be Warned!

Date October 28, 2008

I was watching CNN yesterday and saw one of their money “experts” doing a story on banks and how nine of the largest banks will soon be getting a hefty cash infusion, thanks to the Economic Stabilization Act. What the “expert” did say that peaked my interest, was that some, if not all, of these […]

Take the Credit Score Quiz

Date October 27, 2008

Have you ever applied for a loan and you didn’t get that extremely low rate that was advertised? That’s probably because of your FICO score. Typically, financial institutions partially base credit decisions on your FICO, or Fair Isaac and Company, credit score. Credit scores range from 300-850, the higher number being the best. The higher […]

What’s all the Hype about Health Savings Accounts?

Date October 22, 2008

I saw this headline in today’s Los Angeles Times: Health Insurers Reinvent Themselves as Money Managers. The article goes on to say that several insurance companies are rushing to open banks as more Americans open health savings accounts, a tax-sheltered way to pay medical bills. Managing that money is more profitable than offering health insurance. […]

Zero-Percent Financing: What You Should Know Before You Shop

Date October 20, 2008

Let’s face it. Auto dealers are having a really difficult time selling cars. Even the top dogs are suffering – GM, Ford, Chevrolet and Toyota, to name a few. So what are they doing to get cars off their lots? Making really sweet deals for car shoppers. When shopping for an auto loan, you want […]

MCCU on KCAL9!

Date October 17, 2008

MCCU was featured in the October 16, 2008 Money 101 segment on KCAL9! They shot footage for the piece at our Chatsworth branch. In the segment, Bob McCormick talks about how credit unions are a safe alternative to banks. He goes into a bit of detail regarding the differences between banks and credit unions and […]

The Holidays are Coming, The Holidays are Coming!

Date October 16, 2008

If you’re like me, and you’ve gone grocery shopping or to a drug store recently, you’re absolutely dumbfounded when you see shelves lines with bags of chocolaty goodness, along with that creey electronic zombie man moaning and waving at you. Yes, Holiday Season has begun. Our economy is not what it was last year and […]

Is My Credit Union Safe?

Date October 16, 2008

With the recent bank, and some credit union, failures lately, I’ve been hearing this question a lot: Is my credit union safe? There are several ways for you, the consumer, to get the answer to this question. Go to the NCUA Website and look at your credit union’s quarterly financials. This can be found in […]