The first step is understanding how credit works and begin making a plan. Lock away your credit cards. Now, do not close your accounts just yet. If your credit rating is poor you may have a difficult time getting new cards. The first step is to stop using them and stick to your immediate goal...
Category: Your Money
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Crisis Financial Planning – Six Things You Can Do Right Now
(March 25, 2020) The spread of Coronavirus (COVID-19) and subsequent developments have left many of us feeling unsettled. Please be assured, DuTrac Community Credit Union is doing everything possible to keep our employees, members, and your money safe while delivering the highest level of member service possible.1. Take care of your taxes. Like most things, tax...
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Joint Owner vs. Beneficiaries
Joint AccountA joint owner account has one primary member as well as a person named as joint owner. Both the primary member and the joint owner have equal, or the same, access to the functions of the account. Both can deposit, withdraw, or close the account. This degree of shared access by the primary member...
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Surviving a Layoff
Losing your job because you were laid off is not your fault – you did not do anything wrong. Dealing with a layoff can be stressful and emotional, so allow yourself the time to deal with your emotions, talk about how you feel, and remember: you are not alone. As many sectors of the economy...
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Free Credit Freezes For You And Your Child
According to the Federal Trade Commission, a new federal law allows you to get free credit freezes for yourself and your children, and year-long fraud alerts. Currently, you may be charged fees to freeze and unfreeze your credit, depending on which state you reside in. How Credit Freezes Work Freezing your credit prevents creditors from...
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FICO Plans Big Shift in Credit-Score Calculations
(Tuesday, October 23, 2018) Fair Isaac Corp. , creator of the widely used FICO credit score, plans to roll out a new scoring system in early 2019 that factors in how consumers manage the cash in their checking, savings and money-market accounts. It is among the biggest shifts for credit reporting and the FICO scoring...