Money Market vs. Certificate: How to Choose
Make the most of your money by choosing the savings option that’s best for you! Not sure how to grow your funds? Learn more about the benefits of a Money Market account or Certificate below. What is a Money Market account? A Money Market account, offered by banks and credit unions, is a type of account that tends to pay you higher interest rates than other types of savings accounts. While Money Market accounts may require a minimum amount to [...]
CFPB Report Finds that Credit Unions and Small Banks Offer Lower Interest Rates
On February 16, 2024, the Consumer Financial Protection Bureau (CFPB) reported on the first set of results from the newly updated Terms of Credit Card Plans survey which revealed that large banks are offering worse credit card terms and interest rates than credit unions and small banks, regardless of credit risk. The survey found that the average cardholder could save $400 to $500 in annual interest at a credit union or small bank since the 25 largest credit card issuers [...]
The Best Way to Budget to Reduce Debt
One survey shows that approximately 80% of Americans are currently in debt. Whether it be from a credit card, student loan, or mortgage, understanding how debt works and creating a plan to reduce your debt will help you better manage your finances. Understanding How Debt Works It’s important to understand that there are different types of debt and that not all types of debt are bad. Good debt: Certain investments, such as buying a home or getting an education may [...]
The Question Corner with a Kitsap Credit Union Manager
With the holidays concluded, the new year began, and spring right around the corner, now is a great time to start thinking about consolidating your debt. While there are many benefits to debt consolidation, it can be hard to know where to start. That’s why we asked Marcus Kennedy, Kitsap Credit Union Branch Manager, for his advice. Marcus joined our team in 2021 as Branch Manager of our 176th & Meridian location in Puyallup. His passion for helping people and [...]
Tips From A KCU Manager to Make the Most of Your Money
Looking to start the New Year off on the right foot? We can help! KCU Branch Manager, Dezirae, is here to share how you can make the most of your money in the new year. Here’s Dezirae’s advice on how to make your money work for you: You can start the New Year on a strong financial footing by creating a budget tailored to your financial goals. Track your income, prioritize expenses, and allocate savings. This proactive approach will help [...]
When to Use Buy Now, Pay Later
With holiday shopping in full swing, you may see Buy Now, Pay Later (BNPL) options when checking out online. This credit option is offered for items like clothing, electronics, furniture, exercise equipment, and more. Before you choose this deferred payment plan, there are a few things you should know. What is Buy Now, Pay Later? BNPL is a deferred payment option that generally allows you to purchase something with little to no upfront payments. This is followed by payment installations [...]