Search Results | Credit Union of Colorado

Search Results

Articles

Meet Quinn. A CUofCO Visa Signature cardholder.

Meet Quinn. She’s 34, and a Director of Communications for a medium-sized accounting firm in Denver. Quinn lives in RINO, has two Labradors (Sadie and Harper) and she loves her Visa Signature® card from Credit Union of Colorado. Quinn is savvy when it comes to card shopping. She knows she could find comparable cards at bigger banks, but she appreciates the commitment CUofCO makes to her community...

Tips to Manage Finances During Inflationary Periods

Few things put a damper on personal finances like inflation. When gas, groceries, and other products and services cost more than they did a short time ago, households have less money to achieve long-term financial goals. While Federal Reserve policymakers informally shoot for a stable 2% annual inflation rate, a sharp uptick like the one experienced recently ( 8.6% in May 2022) can send your...

Savings Account or a CD: Which works for You?

What is a CD Account? A certificate of deposit (CD) account serves as an alternative to a traditional savings account. Unlike savings accounts, CD accounts often require a higher balance (a minimum of $500 at CUofCO), and the deposited funds remain locked for a predetermined period, known as the "term" of the account. Interest starts accruing after an initial deposit, and the account holder can...

Put Holiday Scams on Ice

While you're preparing for a busy holiday shopping season, scammers are plotting their winter heists. Many of these bad actors are crafting deceptive online schemes while others are homing in on crowded stores and malls. These holiday hustlers don't care about Black Friday bargains - they're after your credit card details and personal information. Use these tips to leave fraudsters out in the cold...

9 Ways to Set Yourself Up for Financial Success Before Age 25

The sooner you plant and nurture smart money habits, the better prepared you’ll be to weather financial storms that may arrive later in life. Individuals under age 25 who’ve learned to live within their means are often better equipped to shield themselves from the devastating effects of an income loss or other financial emergency. Plus, weeding out bad decisions makes it possible to grow a...

What’s the Difference Between a Bank and a Credit Union?

Here are three main areas of contrast between the two types of financial institutions. Relationship Does the financial institution see you as a customer or a member? Banks are publicly traded or privately owned institutions with customers. Credit unions are not-for-profit institutions with members. As a customer, expect a relationship where the bank holds power and typically answers to its...

Why Is Money So Emotional?

Anyone who has ever lost sleep over credit card bills or stock market shake-ups knows that money is so much more than just a set of numbers on a screen. Money, or a lack of it, can be fraught with emotions that – in some cases – lead to health issues including anxiety and depression. A 2022 survey on money and mental health from Bankrate and Psych Central showed that a large number of Americans...

How to Manage Debt After a Loved One Passes Away

When someone you love passes away, intense emotions, like sadness and anger, can make it hard to think clearly. During such times, managing finances, particularly debt, can feel overwhelming and confusing. Getting organized is crucial. Not only does it help in honoring the legacy of the person you've lost, but it also helps you regain control over your life and finances. If you recently...

Should I Rent or Buy My Next Home?

You have a decision to make. Whether it’s due to another rent increase or because you recently tied the knot, your current housing situation is no longer meeting your needs. Buying a home could guarantee a stable housing payment and provide the room you need. But renting has been good to you over the years. Each move only required a minimal security deposit along with the first month’s rent, not a...

What You Should Know Before Making a Cash Offer on a Home

In a seller's market, homebuyers must bring their "A" game when presenting a purchase offer. Areas with high demand and low housing inventory give buyers no choice but to submit offers that separate them from the crowd. An all-cash purchase offer can do exactly that. Sellers may even accept less than asking price for an all-cash offer since a real estate transaction untethered to lender financing...