The Federal Trade Commission (FTC) has reported that fraud-related losses have increased by over 70% between 2020 and 2021, with 1.4 million identity theft reports. Identity theft not only incurs high expenses but also causes significant inconvenience as you try to undo the damage caused by the thieves. To prevent becoming a victim, here is...
Category: Personal Financial
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Learn how to Ladder CDs!
Are you interested in a savings vehicle that offers a higher annual percentage yield (APY) than a typical savings account? A share certificate may be perfect for you! It locks up your deposit for a set period of time and pays a fixed percentage yield upon completion of the certificate’s term. Credit unions offer share...
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Ensuring the protection of your finances in the case of a car accident is of utmost importance.
Protecting your finances is essential, especially when it comes to your vehicle. If the value of your car is less than the amount of your car loan, Guaranteed Asset Protection (GAP) can help bridge that gap. On average, a new vehicle will depreciate more than 20% after the first year of ownership, with half happening...
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It’s time to break these eight unhealthy credit card habits
You probably know people who have experienced financial stress, declining credit scores, and lifelong debt struggles because of credit cards. However, credit cards can be a helpful tool for managing your finances if used correctly. To make credit cards a positive aspect of your financial life, avoiding common and costly credit card mistakes is essential....
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What You Weren’t Taught in School About Debt Relief
It’s alarming that the average American carries a debt load of over $90,000. It only takes a little to push someone over the edge financially. A severe medical condition, unexpected job loss, or any other factor that reduces income can quickly lead to financial distress. When expenses surpass earnings, people end up in a precarious...
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To show sellers that you are a serious and qualified buyer, it is important to get prequalified.
Applying for a mortgage requires thoroughly evaluating your financial situation and the property you wish to finance. You must submit a loan application providing information about your income, assets, debts, and credit history. Your creditworthiness will be carefully evaluated by NY TEAM Federal Credit Union or any other lender based on this information. Pay stubs,...
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Feature Blog Posts
Check out our blog posts for the most recent updates, highlights, and educational content! If you have a blog post idea, feel free to send us an email at info@nyteamfcu.org. At the Credit Union, we prioritize our members and believe that education is crucial. Subscribe to our Email Marketing to receive our informative emails.
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Learn how a lease buyout can save you money while also allowing you to maintain control over your vehicle.
Do you love your leased car and don’t want to give it up? You can finance the balance of your lease to own the car. Refinancing the balance of your lease with NY TEAM Federal Credit Union can keep you behind the wheel and save you money. With a lease buyout or purchase option, you...
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OVERDRAFT PROTECTION VS COURTESY PAY, WE GOT YOU COVERED.
At NY TEAM Federal Credit Union, we offer two services to assist our members with insufficient fund items that lead to overdrawing their checking account: overdraft protection and courtesy pay. Although they may appear alike, there are some significant differences between the two. Overdraft protection is available on all checking accounts and uses funds that...
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Learn how you can earn..
Investing in a certificate of deposit (CD) is a great option that only requires an initial deposit of $1,000. Right now, we’re offering a six-month CD with a 3.25% APY. By depositing $1,000, you could earn $16.41, which is enough to buy three Starbucks drinks or a deli sandwich. Don’t miss out on this opportunity...