It’s America Saves Week!
This America Saves Week, Learn 6 Ways To Make Saving Simple Welcome to America Saves Week, an annual call to action initiative that asks you to commit to saving your money consistently. The non-profit organization encourages everyone in the U.S. to get a clear view of their finances, set savings goals, and create a plan to achieve them. Regularly saving money is important in order to afford the things you want to do and have. It’s also incredibly helpful to [...]
How to Avoid Elder Financial Exploitation
Did you know that individuals over the age of 50 control 70% of the country’s wealth, and seniors between the ages of 65 and 74, with an average net worth of $1.06 million, have more assets than any other age group? Because members of this age group have disposable income lying around, criminals often target them with scams and dementia, disability, and decline can make it even easier for these scammers to successfully steal funds. Elder scams are a problem [...]
Money Market vs. Certificate: How to Choose
Make the most of your money by choosing the savings option that’s best for you! Not sure how to grow your funds? Learn more about the benefits of a Money Market account or Certificate below. What is a Money Market account? A Money Market account, offered by banks and credit unions, is a type of account that tends to pay you higher interest rates than other types of savings accounts. While Money Market accounts may require a minimum amount to [...]
CFPB Report Finds that Credit Unions and Small Banks Offer Lower Interest Rates
On February 16, 2024, the Consumer Financial Protection Bureau (CFPB) reported on the first set of results from the newly updated Terms of Credit Card Plans survey which revealed that large banks are offering worse credit card terms and interest rates than credit unions and small banks, regardless of credit risk. The survey found that the average cardholder could save $400 to $500 in annual interest at a credit union or small bank since the 25 largest credit card issuers [...]
The Best Way to Budget to Reduce Debt
One survey shows that approximately 80% of Americans are currently in debt. Whether it be from a credit card, student loan, or mortgage, understanding how debt works and creating a plan to reduce your debt will help you better manage your finances. Understanding How Debt Works It’s important to understand that there are different types of debt and that not all types of debt are bad. Good debt: Certain investments, such as buying a home or getting an education may [...]
The Question Corner with a Kitsap Credit Union Manager
With the holidays concluded, the new year began, and spring right around the corner, now is a great time to start thinking about consolidating your debt. While there are many benefits to debt consolidation, it can be hard to know where to start. That’s why we asked Marcus Kennedy, Kitsap Credit Union Branch Manager, for his advice. Marcus joined our team in 2021 as Branch Manager of our 176th & Meridian location in Puyallup. His passion for helping people and [...]