NewsLines Archives-

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Join us on Facebook!

To help kick off our 75th Anniversary Year, we are now on facebook. "Like" us on facebook and we'll enter you in a prize drawing for $75.00. Each person will be entered once and we will hold 2 prize drawings when we reach 150 "likes". Check our wall regularly for the prize winner notification. The winner will be asked to contact us to claim their prize.

Follow us on facebook for tips on money management and information on current events that affect your money.

Refinance Opportunity

If you have a current home loan with another lender that you would like to refinance at a lower rate, we can help. Call us with any questions you have. You can reach us at 315-733-1596.

*NEW* - Home Equity Loans/Fixed Rate - 3.99%
- $50,000 maximum credit line
- 10 year maximum term
- 630 or above credit score required
- All closing costs paid by the Credit Union*

*Credit union will pay closing costs unless you refinance an existing UGEFCU Home Equity loan processed within the last 3 years.

Build Your First Budget

Congratulations! You’ve got your first place, a new job, and money coming in each month. There’s only one problem: It’s never quite as much money as you’d like, is it? Managing your own income and finances for the first time can seem overwhelming, but it’s essential to get off to a smart start. Creating a “plan to spend” instead of spending without thinking is the key to long-term happiness and short-term calm.

To build your first budget after graduation, list your income from all sources first. Next, record your monthly and yearly expenditures, starting with your biggest items, like rent, student loan payments, and car payments.

Be honest with yourself about the difference between needs and wants, and categorize them appropriately by listing your needs first when you budget. Elizabeth Warren, White House adviser and co-author of “All Your Worth,” advocates a 50-20-30 strategy to allocate income. Put 50% toward needs such as rent and transportation, 20% to savings for retirement and emergencies, and use 30% wants such as travel and entertainment.

It’s important to keep the budget simple, to be realistic, and to adjust it regularly as needed. Allow for budget busters like car maintenance and fees that only need to be paid yearly instead of monthly.

Give your budget time to work. You might find it difficult to meet your saving goals immediately but, over time, you’ll make progress as you continue to track income and spending. Finally, keep your bigger financial goals in mind as you work to stick to your budget each month.

Use these links to help you create and stick to your first budget. Budget Calculator Budget Video Budget Article

Payment Shaver is Back and Better Than Ever

We are offering a new lease like loan product called Payment Shaver. This financing option offers lower monthly payments than traditional financing with no money down. Our program differs from leasing because:

• You can negotiate the purchase price
• You can finance used vehicles up to three (3) years old
• You own the vehicle so you can sell, trade or pay it off anytime during the loan
• No penalty for early termination
• No down payment, security deposit, up-front capitalization cost, acquisition fee, or first and last payments are required
• You are given a fair market residual value
• No disposition fee to turn the vehicle in at the end of the term

To find out more about this financing option, call us at 315-733-1596 or stop in to see us. We look forward to helping you.