Latest Finance Articles and Promotions

Black Friday: History, Economics and Benefits

Black Friday gift signHistorians aren’t certain of the origins of Black Friday. Their best guess is that the Santa Parades in the late 1800s contributed to today’s shopping frenzy. From 1887 continuing into 2017, department stores like Macy’s held Christmas parades to encourage potential customers to visit their stores. These parades were typically held the day after Thanksgiving. Eventually, more stores held parades and even more dropped their prices to attract holiday shoppers. This practice was likely the beginning of Black Friday.
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Posted on November 21, 2017 by Ronda

Members First Credit Union (NH) offering No Down Payment Mortgage

Members First Credit Union logoThe process of purchasing a home can be a bit daunting, especially when all the financial aspects are considered. Prospective homeowners must be prepared to provide funds for closing costs, a down payment, as well as moving and furnishing expenses, all which add up to a significant amount. Finding a mortgage lending partner that understands these concerns and works with borrowers to ease the out of pocket financial burden of buying a home is an integral part of the home-buying journey.
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Posted on November 16, 2017 by Melissa

Tech Sector Developments May Help Your Credit Score

Man looking at his credit score on a mobile phoneNew developments in the technology and financial sectors may help you boost your credit score and have access to more loan options. Although standard peer-to-peer loans are always an option, there are new ventures forming to help bring loan accessibility and credit building opportunities to those in need.
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Posted on November 15, 2017 by Ryan

Republic Bank Offering No Down Payment Mortgage Loan

Republic Bank logoHome ownership is a dream many people strive to achieve over a lifetime, but there are often financial barriers that make the process a challenge. Saving enough for a down payment, not to mention the added expense of closing costs can make it seem impossible to get into a place to call your own. In recent years, several financial institutions have made a commitment to potential homebuyers by offering programs that lower the initial out of pocket costs for those who qualify.
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Posted on November 14, 2017 by Melissa

Common Pitfalls with Payday Loans

Payday loan red rubber stampSimply speaking, a “payday loan” is a loan that is made with a paid-in-full due date that corresponds with the borrower’s next paycheck or scheduled benefit compensation. These short term loans generally carry a very high interest rate that can run anywhere from 351% upwards to 500% (or higher)! The term may also apply to a loan with a slightly longer payment due date (possibly six months), but it will still be created with a due date that falls on the borrower’s pay date. This type of loan is also called an “installment loan” and may incur an origination fee along with a high interest rate. In general, those who are seeking a payday loan will usually find them either a payday lender’s storefront operation or online.
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Posted on November 13, 2017 by Henry

How We Should Remember Our Veterans

Thank You Veterans written on American flagVeteran’s Day is now here and I’m reminded about my own tour of service in the U.S. Army, way back in the early 80s. The country had recently exited the Vietnam War and folks were trying to heal from that trauma. Unfortunately, the U.S. military suffered, insofar as its reputation was concerned.
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Posted on November 11, 2017 by Henry

6 Grim Truths From the Equifax Breach

Group of business associates discussing data breach informationDigitizing our economy carries immense benefits.  Global commerce can carry on at breakneck speeds that most of us don’t even stop to appreciate.  The paying of bills, transferring of money, and other related tasks can be accomplished in seconds with the swipe of a finger.  You can trade foreign stocks with a mouse click. And the credit information, birth dates, and social security numbers of over half the American public can be leaked to malicious hackers….what a time to be alive.
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Posted on November 10, 2017 by Devin Trim

Teachers FCU (NY) offering Unsecured Personal Loan with 5.0% APR for the Holidays

Teachers Federal Credit Union logoWhile the holiday season is often full of excitement, it can be a financially challenging time for individuals and families. The combination of travel, gifts, entertainment, and unexpected bills can be overwhelming to manage all at once, especially when savings account balances are already low. Fortunately, during a low interest rate environment, a personal loan can be a tool for getting through the expensive holiday season without feeling the pinch.
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Posted on November 9, 2017 by Melissa

How to See What’s On Someone Else’s Credit Report

Illustration of credit report on paper in mans hand through magnifying lensEvery now and again I’m asked if it’s possible to check someone else’s credit report. The answer, of course, is “Yes”. However, before I offer any advice as to how this is accomplished, I first make sure to ascertain the individual’s particular motivation for it. That’s because there are only a few reasons why this bit of research should be performed. Therefore, I’m going to start this article off with the reasons in which one could ethically justify accessing and reviewing another person’s credit history report and score.
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Posted on November 8, 2017 by Henry

Hudson Valley FCU (NY) Offering HELOC with 1.79% Introductory Interest Rate for 6 Months

Hudson Valley Federal Credit Union logoHaving access to affordable credit can be a lifesaver when unexpected bills or major expenses pop up. Homeowners with equity in their property have an opportunity to borrow against their home through a home equity line of credit (HELOC), which provides more flexibility than most other lending tools. Through a home equity line of credit, homeowners can borrow what they need when they need it, and plan for an extended repayment that best meets their needs. Before securing a home equity line of credit, it is helpful to shop around to ensure you’re getting the lowest available interest rate along with the most beneficial repayment options.
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Posted on November 7, 2017 by Melissa