How CDs Work A certificate of deposit is a type of savings account that typically offers a higher rate of return in exchange for your commitment to leave the deposited funds untouched for a set period. Most financial institutions offer CD terms as short as six months and as long as five years—the longer the term, the higher the guaranteed rate of return. CD account owners deposit a lump sum into a...

Your vehicle isn't just a convenience – it's essential for getting to work, transporting your family, and maintaining your lifestyle. But with rising prices on everyday goods and services, you might feel you have to choose between making your car payment and covering other essential expenses. Fortunately, you can make a U-turn on this challenging road and head in a direction that protects your...

Hail Damage to Homes: Know Your Insurance Policy Hail storms can wreak havoc on roofs, leaving homeowners facing repair or replacement costs. Start by checking your homeowner's insurance policy to understand what's covered and what your deductible is. In Colorado, especially on the Eastern Plains, many policies have separate roof deductibles due to the frequency of hail storms. If you're unsure...

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...

You went from college student to alumnus in the blink of an eye. Now, as you transition to life on your own, it's wise to adjust your finances for life after college just as quickly. You may long for the days of managing a college budget with a small income and a handful of expenses, but that's no longer your reality. While your first full-time job is likely to provide you with more income, you...

Coloradans lost $28.7M to fraud in 2019. This figure includes bank fraud, which remains one of the top identity theft types in the state. Bank fraud generally involves fraud related to debit cards, electronic funds transfer, and ACH transactions. Criminals look to use your personally identifiable information to open fraudulent new accounts. Fortunately, members can keep their private information...

What Is a Money Market Account? A money market account combines the features of checking and savings accounts. Generally, money market accounts come with check-writing abilities, are federally insured, and provide a higher rate of return compared with standard checking accounts or regular savings accounts. Money market accounts differ from money market funds. The former is a deposit account, but...

Earlier this year, pet adoption and fostering surged during stay-at-home orders limiting social contact. Shelters in Colorado happily announced they had no animals available for adoption. The American Society for the Prevention of Cruelty to Animals (ASPCA) reported that several states experienced a near 70% increase in pet fosters when compared to the same time last year. It's a win-win for both...

Some recent surveys have shown that many homebuyers express regret. Research from Zillow, for example, showed that 75% of homebuyers wish they had done at least one thing differently. About one-third regret buying a home that needs more work or maintenance than they originally expected. And one-quarter wish they would have purchased in a different area. But don’t panic. Getting through the process...

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...