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    Credit Card Tips for Students

    Last updated 1 year ago

    Credit card companies love to target college campuses as part of their major marketing strategy. As students become more financially secure, it’s important that they understand the responsibilities that come with using credit to make purchases.

    As you will learn in this video, the penalties that students face for not paying credit bills on time are high interest, poor credit, and huge debts. College students should consistently pay their bills on time and avoid relying too much on credit.

    If you’re a student who’s interested in learning more about healthy credit card spending, speak with a representative at Jeanne D’Arc Credit Union. To schedule a personal meeting or to discuss any of our other services, call us today at (978) 452-5001.

    How a Credit Union Can Help You During the Holidays

    Last updated 1 year ago

    Instead of picking out new sweaters or more unnecessary electronics for your loved ones this holiday season, why not consider giving a gift that will keep on giving? With help from Jeanne D’Arc Credit Union in Lowell , you can find a variety of great gifts that will bring your friends and family members financial opportunity and a feeling of deep appreciation. Take a look at these ideas to find out how a credit union can help you during the holidays:

    Savings Bonds Make Perfect Stocking Stuffers

    Buying an electronic savings bond is simple with help from Jeanne D’Arc Credit Union. We can help you print out an official gift certificate as proof of your generous gift. Bonds are safe investments that family and friends can enjoy far into the future.

    Receive a Helping Hand with Your Holiday Expenses

    The holidays can be one of the most financially straining times of the year. If you and your family have major purchases to make, you should consider securing a personal loan with a Lowell credit union representative. With low interest rates and favorable terms, a personal loan can be the perfect financial stimulus you need this holiday season.

    Ensure a Bright Future for Your Kids with a Savings Account

    It’s never too early to start putting money aside for your kids’ future. By opening a savings account for your kids at your local Lowell credit union, you can help make their future dreams a reality. Although a savings account may be a harder sell than a new toy, your kids will thank you in the future.

    Jeanne D'Arc Credit Union offers clients a number of services to make the holiday season a little brighter. You can visit any one of our Lowell-area branches to discuss your options with one of our caring and knowledgeable staff members. To find your closest branch, call us today at (978) 452-5001.

    How You Can Break Free from Banks that Are "Too Big to Fail"

    Last updated 1 year ago

    If the financial crisis taught us anything, it’s that you can never be too careful about where you invest your money. When you place your money in a local credit union, you’re making a secure and wise decision that benefits your future and that of your community. Here is how you can finally break free from banks that are “too big to fail” and make the switch to a smarter alternative:

    Find a Credit Union with Competitive Rates

    The reduction in fees is one of the biggest draws to switching from a major banking institution to a local credit union. Most banks these days charge a number of hidden fees for simple services like opening a new account, ordering new checks, or simply using a debit card. It’s estimated that credit unions can help members save $6 billion each year thanks to lower fees and rates.

    Discover the Locations of Your Future Credit Union

    In order to make a smart switch from your major bank to a Lowell credit union, shop around for a financial institution with plenty of experience, a great reputation, and plenty of convenient locations. Many credit unions offer numerous locations, making them just as handy as banks without the hassle.

    Consider Obtaining a “Switch Kit”

    A reliable and friendly Lowell credit union can assist new members to the fullest extent. After opening your new account, ask a credit union representative how you can transfer all of your funds and prior banking information. Many institutions offer “switch kits” to make the move easier.

    You can learn more about breaking free from your bank by visiting Jeanne D’Arc Credit Union. We’ve helped thousands of Lowell residents make the switch by offering assistance through every step of the transferring process. Call us at (978) 452-5001 to learn more about our financial services.

    Expand Your Banking and Personal Finance Knowledge

    Last updated 1 year ago

    Understanding the basics of banking and personal finance can provide an added level of control to your financial situation. Regardless of your financial needs, being well-informed is an important aspect of managing your money. Check out these resources to learn more about banking and personal finance.

    • SmartAboutMoney.org has some helpful information on how to establish long-term savings and financing your retirement.
    • The National Credit Union Administration provides a clear look at the differences between a credit union and a bank, and why a credit union may be the right banking option for you.
    • If you are looking for information about personal finance and managing a budget, read this information page from AmericaSaves.org.
    • HowStuffWorks.com has an easy-to-understand explanation of financing a mortgage.
    • If you are interested in learning more about the banking system as a whole, this guide from The Federal Reserve Bank of Boston has a basic explanation of America’s financial system.

    To learn more about banking and personal finance, call Jeanne D'Arc Credit Union at (978) 452-5001.    

    Basic Tips for Establishing Long-Term Savings

    Last updated 1 year ago

    Whether you are saving for a future home, automobile, retirement, or a financial emergency, establishing long-term savings in an essential part of your financial security. Regardless of your situation, building your savings is always a good idea. Even with student loans or a mortgage to pay for, growing your savings is still possible. Here are some basic tips to establish long-term savings.

    Pay Into Your Savings First

    Whether banking through a credit union or larger banking entity, establishing a savings account separate from a checking account is a great idea. Paying into your savings with every paycheck is a simple and easy way to build your savings. Most credit unions can allow you to set up a direct deposit system that can filter money directly into your savings, sparing you the hassle of managing transfers from your checking to savings account yourself. It is difficult, but extremely helpful to make sure that you pay at least some money from your paycheck into your savings every pay period.

    Start Saving Early

    The sooner you start saving your money, the greater the return you stand to gain. Basic savings accounts might leave your money somewhat static, but Individual Retirement Accounts, or company-matched 401Ks can provide a tremendous return on your initial investment. Investing in these types of accounts early on allows your principal to develop sooner, earning greater compound interest. Simply put, the longer you save, the more your savings grow.

    Establish a Budget

    Budgeting your money seems simple enough, but is trickier than most people realize. Understanding how much of your earnings go to overhead expenses and necessary spending like transportation costs is important. As a general rule, you should develop a level of savings large enough to cover your mandatory expense for three to six months prior to exploring other investment options or saving for approaching major purchases such as a car.

    For sound financial advice, savings, and investment options in the Lowell area, call Jeanne D'Arc Credit Union at (978) 452-5001. Jeanne D'Arc Credit Union offers services including student loans, mortgage loans, auto loans, personal loans, IRAs and a variety of savings options.

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