Banking
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Are Your Credit Union Deposits Safe? Everything You Need to Know About the National Credit Union Share Insurance Fund
In times like these, with bank failures in the news, it’s time to revisit how your deposits are insured at credit unions. Before we dive in, it’s important to revisit the 2008 financial crisis. During that time, many people became understandably concerned about the safety of their deposits in financial institutions. The 2008 financial crisis was a stark reminder of…
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The Federal Deposit Insurance Corporation (FDIC): Everything You Need to Know
With the news of banking failures and heightened stress, I thought it was vital to give you everything you needed to know about FDIC Insurance. The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States government that provides deposit insurance to protect depositors in case their bank fails. FDIC insurance guarantees that in case of a…
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5 Value-Based Reasons You Should Join a Credit Union
A study of 10,000 millennials showed the four most hated brands were banks. This is probably why many of us have turned to alternative nonbanks and startups. However, credit unions are the original banking alternative that shares many of your values. Do you think you could join a credit union? Millennials who have accounts with credit unions are happier customers. An…
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101 Reasons Why You Must Join a Credit Union
I’m a member of a few credit unions and support the financial cooperative movement. And as a disclosure, many credit unions have supported my mission through sponsorship during my Road to Financial Wellness events and other partnerships. I’ve compiled a list of 101 reasons to be a credit union member. You can learn more about financial cooperatives. There are two…
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How Credit Unions Differ from Banks
I am a fan of any financial institution with a mission greater than profit. Credit unions fit the mission-focused criteria. There are over 130 million credit union members in the United States that belong to nearly 5,000 credit unions scattered across the country. Altogether, there are 50,000 credit unions around the globe. It’s an old but consistent movement celebrating its…
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What You Should Know About Credit Unions
I’m sure you’ve heard about credit unions but still don’t understand what makes them unique. Credit unions are an integral part of the financial services industry, offering products and services to over 130 million people. In fact, credit unions are often the only avenue some people have to access banking and credit products. Credit unions can play a role in…
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Join a Credit Union and Become a Member-Owner
Credit unions are excellent. And I suggest that everyone have a credit union as part of their financial portfolio. Why? Well, credit unions offer the traditional banking products you’d expect from big banks but come with the perk of membership with a financial cooperative. With credit unions, you’re not a customer; you’re a member-owner. Credit unions share a common goal…
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Banking Basics: What You Need to Know
Your success with personal finance includes understanding banking basics. Sure, you can keep your money in your wallet or a jar, but the most effective way is to use a banking service. Banking is a form of money management using products and services related to savings and loans. Banks take deposits from people like you, and you may receive interest…
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Best Places to Get a Money Order Near You (2022)
If you want to send someone cash, it might be best to get a money order near you. Welcome to the phroogal 5, a series of the five best places to get a money order. We learned how important it is to help you narrow down your choices. CVSWalmartUSPSLocal bank and credit unionLocal Supermarket The criteria for inclusion in the…
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How to Write a Check – 6 Simple Steps
At one point, you’re going to need to write a check. It’s less common to write personal checks, but sometimes it becomes necessary, like a landlord who wants a rent check. For instance, I recently had to send a check to renew my passport. I hadn’t written one in years. As I wrote the check, I realized this was an…
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