Is Fall the Best Time to Buy a House?

Date September 21, 2016

 alt=Sometimes it’s smarter to buy certain items according to the season, like sweaters near the end of  winter and swimsuits in late summer. But what’s the best season for buying a house?

The answer: the fall. As temperatures cool and trees shed their leaves, enough factors break in the buyer’s favor to make it the No. 1 season for homebuying. Here’s why.

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Using Equity Loans to Winterize Your Home

Date September 19, 2016

There are all sorts of ways to guard your home from the winter elements. Some are cheap and may even fall in the do-it-yourself category, like adding weather stripping and caulking.

Other endeavors, such as swapping out single-pane windows for energy-efficient double panes, or replacing a furnace, are beyond the skill set of most homeowners — and often beyond the balances in many savings accounts as well.

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3 Ways Borrowing Money Can Actually Save You Money

Date September 16, 2016

 alt=It may seem counter-intuitive but it can be true—borrowing money can save you money. When you can save on interest paid, fees, or consolidate expenses, borrowing new money can make you money in the end.

  1. Refinance your mortgage, car loan or other high interest loan. When you refinance, you’re moving your debt from one lender to another. Often that comes with the bonus of a lower interest rate. The new lower interest rate saves you money as you pay down the original amount borrowed.
  1. If you’re spread too thin each month, you may find it difficult to put money in your savings account or make a dent in your long term debt. By borrowing with a consolidation loan, you combine your bills into one payment that is usually less than your previous combined payments and typically at a lower rate. Not only will you be able to have money each month to put away, but you’ll be paying less in the long term.
  1. Sometimes you can save money by using a store merchant’s credit card. While this is not always a better choice, if you shop a particular merchant often, your loyalty could pay off with better sale prices and exclusive savings opportunities. Only pursue this option if you are diligent about paying off the balance each month since these cards often carry a higher interest rate.

Call us at 818.993.6328 or go online to see if refinancing or consolidating your debt can save you money!

5th Annual Family Festival in Chatsworth September 25th!

Date September 14, 2016

Family Festival: Music, Entertainment, Food, & Rides for the Whole Family!

Looking for some family fun this  month?

Join the Chatsworth/Porter Ranch Chamber of Commerce for the 5th Annual Family Festival!

When: Sunday, September 25th

Time: 11am-5pm

Where: Mason Park, Chatsworth

Buy your tickets now, and 50% of the proceeds will go to the school or organization of your choice!

Bank Accounts to Open for Your Small Business

Date September 12, 2016

 alt=One of the most important decisions you’ll make when starting a business is choosing the right bank accounts. As an entrepreneur, you’ll want to make sure you don’t mix your personal finances with your business money: If your cash isn’t kept separate, it could be hard to meet IRS recordkeeping requirements, and that could lead to tax penalties. Opening new accounts in your company’s name is typically a better practice.

Having separate bank accounts could also help limit your personal liability. Say someone were to sue your company; your business assets might be at risk, but your personal assets would likely be protected from legal action.

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Boat Buying and Financing Tips

Date September 9, 2016

Buying a boat is a major purchase, similar to purchasing a car or home. And much like vehicles and homes, boats come with their own unique set of maintenance and upkeep expenses. If you’re thinking of becoming a boat owner, here’s what you need to know.

Basic boat types

Determining your best boat really depends on your personal style. Fishing boats, as their name implies, are day or overnight crafts designed for catching fish. They have ample deck space, open cockpits and reduced seating capacity. Options include:

  • Jon boats.
  • Open express boats.
  • Convertible/sportfisherman boats.
  • Center console boats.
  • Cuddy cabin/walkaround boats.
  • Flat boats.

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The Difference Between a Traditional 401(k) and a Roth 401(k)

Date September 7, 2016

 alt=An employer-sponsored 401(k) plan is often one of the most valuable parts of a job’s benefits package. Although free snacks and a generous vacation policy are great, making regular contributions to a retirement account can help ensure that your golden years are financially comfortable.

That’s what makes it so important to understand the ins and outs of these savings tools, including knowing the difference between traditional and Roth 401(k) plans. Here’s a look at the features that make each one unique, and how you might be able to take advantage of both.

Traditional 401(k) basics

With traditional 401(k) plans, employees make contributions before their income is taxed. It’s a win-win situation: As well as preparing you for retirement, this setup also reduces your taxable income.

The cash in your account is invested in mutual funds, stocks or bonds, and it’s up to you to decide how you want to allocate your assets. The money in these investment vehicles grows tax deferred until you withdraw it.

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Home Loans Made Easy at Matadors Community Credit Union!

Date August 31, 2016

 alt=If you’re in the market to buy a new home, or if you want to refinance the loan you have and save money, look no further than our Home Loan Partner American Family Funding.

Established in 1993, American Family Funding (AFF) has built a strong reputation as an outstanding mortgage brokerage firm serving the lending needs of real estate professionals and individual homebuyers throughout California.

AFF is a full-service mortgage banker with an experienced staff offering expertise in every area of mortgage lending, from purchasing to refinancing. They have access to a full range of mortgage resources and all of their mortgage consultants are dedicated to finding the right loan with competitive rates, terms and costs to meet their clients’ unique needs. That’s just the beginning of their service – throughout the lending process, they provide regular loan updates and progress reports so you will always know the status of your loan. They also offer mobile apps, available in iTunes and Google Play app stores, for your convenience.

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Being “Green” at Home Can Save You Money

Date August 29, 2016

 A few years ago, being green was the “new black.” Everything from pet food to cleaning supplies was going green with promises of environmental friendliness and guilt-free consumption. Going green has gone mainstream, but the impact on your budget can still be profound.

Skip the chemicals—Go au naturale. Cleaning your house and clothes in the old days may have been labor intensive but the cleaning supplies were ahead of their time. Sticking to vinegar, lemon juice, bleach and borax will not only leave your clothes and home looking and smelling clean, but there is less chance of allergic reactions and a huge savings at the grocery store.

Skip the pods—Those cute coffee pods may be all the rage, but in 2013 the waste they produced could have circle the globe 10 times. Furthermore, the price of a cup of coffee is twice as much using a K-Cup than brewing a pot of your favorite grind.

Dial it back—Energy consumption is our country’s biggest environmental hazard and the consumer’s biggest expense. Dial back your thermometer. The rule of thumb states that you can save 3% on your heating/cooling bill for every degree you set back your thermometer.

MCCU can help make your home more energy-efficient!

We can help you finance your energy-saving home project – anything from a new hot water heater to windows and solar panels!

Go Green with some help from MCCU!

Get information on our Energy Loans and Solar Loans today!


Be Aware of Credit Score Scams

Date August 24, 2016

 alt=Your credit score is part of the seemingly magical recipe that determines your interest rates on loans, your insurance premium, and sometimes your hiring decision. Once a guarded secret, your credit score is now available for FREE through many sources. Sites like,, and provide your score for FREE in exchange for your acceptance of receiving promotional materials. Their hope is that when you check your score, you’ll consider purchasing another of their offered products.

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