The start of the new year presents the perfect opportunity to improve your financial future. It’s the ideal time to set new goals and strategies for how you manage your money. Belco Community Credit Union is here to assist you in doing just that. As your trusted financial advisor, we’ll help you save more, spend wisely, reduce debt, and secure your future.  Read on to discover ten tips for improving your finances in the new year. 1. Setting Financial Goals for the New Year Set clear and attainable financial goals that enable ongoing success. Consistently refer back to them so they steer every spending and savings choice toward your overarching… read more »

Opening a money market account (MMA) might seem a bit daunting, especially when headlines warn of market instability. But even in the face of economic unpredictability, these specialized accounts offer a secure option to park your cash while earning interest. Read on to learn how money market accounts work and why they make sense for Pennsylvania residents looking to grow their savings. What Is a Money Market Account?  An MMA is a type of deposit account that often requires a higher minimum balance to maintain compared to regular savings accounts. It offers the dual benefit of better interest rates while providing easy access to your funds. You’ll enjoy the ideal… read more »

Certificate accounts offer a safe and dependable way to save money while earning interest over a fixed period. These investment accounts are an excellent refuge for funds that need a temporary home with the promise of a guaranteed return. Read on to learn more about certificate account advantages and disadvantages and whether opening one is right for your portfolio. What Is a Certificate Account? A certificate account is an investment product whereby you deposit money in an account for a fixed period and earn interest. The rate is usually higher than what you’d make in a regular savings account. When the term ends, you get your initial deposit back along… read more »

Traditional savings accounts are the bedrock of personal finance, providing a safe haven for our hard-earned money. However, in the quest for higher interest earnings and greater flexibility, many people opt to open a money market account (MMA) instead. MMAs combine the best of both worlds and can be an attractive alternative for those seeking stability and potentially higher-yielding interest rates. Read on to learn more about how money market accounts work and if opening one might be right for you. What Is a Money Market Account? A money market account is a type of deposit account that often offers higher interest rates than a traditional savings account. However, MMAs… read more »

Money markets and certificate accounts both offer safe places to stash your excess cash while earning interest, but which is the right choice for you? We take a look at how money market vs. certificate accounts work and which is best for different kinds of savers. Smart Saving Choices: Money Market vs. Certificate If you’re looking to start putting money aside from your monthly budget, then both money market accounts and certificate accounts offer safe places to start building a nest egg for retirement, college, a wedding, or a down payment on a car. While both offer great launchpads for your savings, there are important differences in how they work…. read more »

Certificate accounts are popular investments that many use to grow their savings. Setting up an account is very easy to do. It can be done in just a few minutes in six simple steps. What Is a Certificate Account? A certificate account is a type of investment that is offered by credit unions. Certificate accounts can be used for both short-term and long-term savings goals. A short-term certificate could be used to help you save for new appliances or furniture, for example. You could also open a 60-month certificate to help you save for a down payment on a house. An important benefit of certificate accounts is that the money… read more »

For many people, the hardest part of the home-buying process isn’t finding the perfect home. It’s the process of knowing how to shop for a mortgage. If you’re unsure where to start or have no idea how to get one, we’re here to help!  Our homebuyer’s guide will take you through every step so you’ll know exactly what to expect from the moment you start house-hunting through closing day. Prepare First During the application process, our Mortgage Lending Team will review your financial history. Get a head start by eliminating as much debt as you can before you apply. Plan to pay off any loans of high amounts such as… read more »

Locals know there’s nothing minor league about our state capital, Harrisburg. Known as a “small city with a big city feel,” Harrisburg remains a magnet for singles, young families, and retired couples—keeping the local property market hot even as prices cool elsewhere. That long-term value is great news for local homeowners. Continuously strong real estate prices mean you can swing big on home improvements, knowing every dollar you spend on upgrades will be well worth it. Let’s look at how to build equity in your home by making smart choices about home improvements. Choosing Home Improvements That Build Equity Even if you’re not considering selling anytime soon, home improvements and… read more »

Are you considering getting a home equity line of credit, HELOC? If so, keep reading because we’re sharing some tips on how you can unlock the equity in your home at a low rate.  Whether you’re making home improvements, financing a life event, or consolidating debt, you want to secure the lowest interest rate possible to help you save on the amount you borrow. Here’s how to get the best HELOC rate.  Keep Up Your Credit Score As with any time you borrow money, your credit score will significantly impact your ability to qualify and the rate that lenders offer. You can use your HELOC funds for just about anything,… read more »

Most of us know there are many advantages associated with being a homeowner, including the ability to access the equity in your home through a home equity loan. Of course, being a homeowner doesn’t automatically qualify you for this type of loan. You must have a certain percentage of equity, plus the income and credit to support the loan. This article will walk you through what a home equity loan is, discuss the pros and cons, and outline what you may need to qualify for a home equity loan. What Is a Home Equity Loan? A home equity loan is a loan you take out against the equity in your… read more »