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Debunking 9 Common Credit Union Myths

By: American Heritage 01.30.20 3 minute read Policy & Economy

If you’re a member of a credit union – or thinking about joining one – you’ve probably heard a well-meaning friend or relative tell you something negative they “heard” about credit unions. Unfortunately, the public sometimes gets its facts wrong about credit unions, even though our movement has millions of members worldwide. Credit unions have been around for more than 100 years, but there’s still a lot of confusion about the difference between a credit union and a bank, how credit unions work, and the benefits we offer our members. Credit unions and banks provide the same types of services, but certain characteristics set credit unions apart. Here’s the biggest difference: While banks are for-profit companies that need to earn profits for their stockholders, credit unions are not-for-profit organizations owned and operated by members. Their earnings go right back to members in the form of lower rates on loans, higher dividends on savings, fewer fees, and great service. Because each credit union member owns a share of the organization, they have equal voting rights in decisions that might affect the credit union. Members aren’t customers; they’re the boss.

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3 Tax-Advantaged Ways to Save for College

By: American Heritage 01.23.20 3 minute read Education Savings & Budgeting

You want your child to enjoy the best opportunities, in their future career and throughout life. Supporting their higher education is one of the best ways to help make this happen. After all, it’s no secret that people who hold college degrees have a better chance of landing higher-paying jobs and earning more over their lifetime. Yet college costs are soaring: Over the last 40 years, the price of tuition and fees has increased by more than 1,100%. Not even healthcare costs have increased that quickly. Unfortunately, very few students earn enough in scholarships to cover their full education. While student loans are important, you don’t want your future college grad shouldering too much debt and struggling to make ends meet years after they’ve graduated.

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Build a Better Retirement with IRA Certificates

By: American Heritage 01.10.20 3 minute read Investing & Retirement

Saving for retirement is one of the most important things you’ll do with your money. But there are a lot of different ways to save for retirement. Choosing the best option can be confusing. If you’re looking for a simple solution that offers both steady earnings and protection for your funds, an IRA certificate could be right for you. While you may not have heard of this type of account, you’re probably familiar with the two accounts it combines: an individual retirement account (IRA) and a certificate (the credit union equivalent of a bank CD). Here’s why an IRA certificate could be a smart approach to your retirement savings.

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Woman packing a sweater she recently sold to be mailed to the new owner.

8 Things You Can Sell to Get Extra Cash (and Space)

By: American Heritage 12.19.19 3 minute read Savings & Budgeting

Is your home feeling a little cluttered? Want to get through the holidays, or start the new year, with a little extra cash in your pocket? If there are unused or seldom-used items taking up space in your home, consider selling them. Whether you’re purging your attic, decluttering your whole house, or getting ready to move, periodically selling off old things helps you simplify your lifestyle while earning quick cash – sometimes morethan you might expect.

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A couple looking at a rewards card while outside under holiday lights

Looking for a great rewards card? Read this first.

By: American Heritage 12.05.19 3 minute read Product Spotlight Credit

Think about everything you buy each month. Now, imagine if each dollar you spent helped you earn something you really want – like an awesome vacation, designer handbag, or more money in your pocket. In addition to the convenience and security they provide, debit and credit cards may let you earn valuable rewards like these. But there are some important facts you should know in order to choose the card that’s best for you.

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6 Must-Follow Holiday Budgeting Tips

By: American Heritage 11.21.19 3 minute read Holiday Savings & Budgeting

The holidays are approaching quickly and with them comes fun, food, gifts for the family, and the need to figure out how to pay for it all. The fact is, the average American can easily spend between $800 – $1000 on the holidays each year. Unfortunately, many people don’t save in advance and put it all on the credit card. This leaves them with a savings shortfall, or worse, a large credit card balance that they’ll be paying off well into the following year.

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Holiday Club Savings: Enjoy the Season without the Stress

By: American Heritage 11.14.19 3 minute read Holiday Savings & Budgeting

The holidays are one of the most enjoyable times of the year. But if you’re like many of us, they may also be one of the most expensive. Whether you’re heading out of town or heading to the mall, the cost of gifts, travel, and entertaining can leave you in the red come January. The secret is to start saving for the holidays as soon as possible.

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