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Belco's Online Banking

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How to Improve your Credit Score?

access_time Posted on: March 2nd, 2021

You may be just graduating high school heading into college, purchasing your first home, or retiring looking to buy your dream car. No matter where you are in your life, odds are you will need your credit checked at some point. But you may have heard the simple saying “how can I build credit, if my credit score is low and I do not have the chance to?” This old paradox has left many individuals confused, frustrated and down right angry. Credit scores have always been difficult waters to navigate, but with proper guidance, you can set sail on a financially healthy life. What is a credit score? In order… read more »

How Do I Give Myself an End-of-Year Financial Review?

access_time Posted on: January 15th, 2021

With 2020 in the books, I’d love to look at my finances to get on track for 2021. How do i start? This question is asked more then you may think. Having a financial review at the end of a year is important in helping prepare you for financial success in the year to come. This simple step-by-step process can get you ready to grow financially for the coming year. End-of-Year Review Process Giving yourself an end-of-year financial review is a wonderful way to check on the progress you’ve made toward your goals, highlight areas needing improvement and update your accounts, funds and investments. Here’s all you need to know… read more »

First Credit Card

Your First Credit Card: Everything You Need to Know!

access_time Posted on: January 14th, 2021

Congratulations! You are about to apply for your first credit card! Having heard about how great a credit card can be, and the importance of building credit, you decided to do some research. You saw fancy things like “0% interest for the first year” and “2% cashback on purchases” that sound like a great deal, but what does it all mean? Whether you are going into college and getting your first credit card, or deciding now is the time to build your credit, you have come to the right place. As I currently write this, I am 18 years old. This is about the recommended age to open a credit… read more »

Savings During the Holidays, How to Save Money, Christmas

How to Save Money During the Holidays

access_time Posted on: November 20th, 2020

As the clock ticks down on 2020, the most wonderful time of the year is here. However, as it feels great to have some holiday cheer, not everything is merry and bright, specifically your wallet. No matter how much you budget, this time of year seems to always put a damper on your bank account. Food, presents, parties, gas, and cards are some of the many things you need to budget for during the holiday season. But what can you do to keep spending to a minimum? Check out these helpful tips on how to save money during the holidays! Store Apps Store apps are a great way to save… read more »

Online Banking Benefits

What are the Advantages of Mobile Deposit?

access_time Posted on: October 8th, 2020

The world is changing from COVID-19. People are relying on technology now more than ever to accomplish their daily tasks. From groceries delivered right to your door from an app, to Zoom meetings with team members from the comfort of your home, the dependency on technology has grown to new heights in 2020. Banks and credit unions are no exception to the mobile and online technology movement. One of the most beneficial and easy tools at Belco is our Mobile Deposit feature. While this tool has been around a long time, many people do not take advantage of Mobile Deposit because they may not be aware of how it can… read more »

How can You be Financially Fit Rightnow?

access_time Posted on: October 2nd, 2020

Are you ready to stretch those financial fitness muscles? We hope so, because it’s time to get financially fit! Being financially fit means living a life of complete financial responsibility. The Center for Financial Services Innovation (CFSI), also known as the Financial Health Network, defines four basic components of financial health: Spend, Save, Borrow and Plan. These components reference everyday financial activities. Therefore, Every choice you make in terms of these four activities either builds or detracts from your financial fitness. Like physical fitness, you can beef up those fitness muscles a little bit more each day. Being financially fit is crucial for a well-balanced, stress-free life. Here’s why (and how):… read more »

6 Bad Reasons to Refinance Your Home Loan

access_time Posted on: September 17th, 2020

With interest rates trending downward over the last several months, refinancing is all the rage. For many, refinancing an existing mortgage to a home loan with an interest rate that’s lower than their current rate, could hack hundreds of dollars off their monthly payment. This can easily add up to thousands of dollars in saved interest paid over the life of the loan. However, refinancing is not always a good idea. Here are six bad reasons to refinance a home loan. 1. To extend the term of the loan Refinancing a mortgage with a lower interest rate can save you money each month, but be sure to look at the… read more »

a first-time car buyer smiles from the driver's seat of her new vehicle

Planning Guide for a First-Time Car Buyer

access_time Posted on: September 11th, 2020

Buying a car for the first-time is a journey, and it can be a bit daunting. To make the process as easy to navigate as possible, consider following the pointers listed below. Before Car Shopping Before you begin shopping for a car, it’s worth taking the time to do some preparation. In particular, you’ll want to make sure you’re in a good financial situation to handle the cost. Determine your budget Your budget is the first item you should look at, particularly concerning how your monthly income compares with your existing financial obligations. Typically, it’s best to see that your car loan payments are no higher than 10% of your… read more »

Payday Loans: Not As Cheap As You May Think

access_time Posted on: September 3rd, 2020

“Payday loans,” which are also called cash advance, check advance and post-dated check loans, have become increasingly popular for fast cash. All a consumer needs in order to obtain a payday loan is employment, a utility bill, a checking account and a driver’s license. The borrower writes a personal check payable to the lender for the amount he or she wishes to borrow, plus a fee, which is typically in the range of 10% to 25% of the amount. That check is held for up to four weeks. At that time, the check is redeemed by the borrower by paying the face amount of the check or allowing it to… read more »

What’s the Best Way to Use a Home Equity Loan?

access_time Posted on: August 31st, 2020

Q: With interest rates falling and home prices rising, it seems like a great time to tap into my home’s equity using a home equity loan. What’s the best way to use these funds? A: A home equity loan can be a fantastic way to source extra funds during a falling-rates environment. Tapping into your home’s equity, or the positive difference between what is owed on a home and its current value, will give you the funds you need for a large expense with no additional strings attached. With interest rates on a Belco Community CU Home Equity Loan starting at just 3.49% APR*, the repayment plan is always affordable. If… read more »