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Taxes 101: Brush Up on These Key Terms Before You File

By: American Heritage 02.13.20 3 minute read Tax Filing

Taxes. They’re one of the two certainties of life, according to former Philly resident Benjamin Franklin. And with the arrival of tax season comes the inevitable arrival of tax jargon – terms that would have even Mr. Franklin scratching his head. Whether you’re new to filing taxes or just need a refresher, we want to help you file with more confidence and less confusion. Understanding the basic tax terms and concepts will be key to filing your return quickly and accurately – and without overpaying. So, before you file your 2019 tax return, make sure you know these nine essential terms.

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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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Is Debt Consolidation Right for Me?

By: Holly Love 01.16.20 2 minute read Savings & Budgeting Credit

Credit cards are a valuable tool for building credit, making large purchases, or earning rewards. Still, a tool this powerful must be used carefully to prevent avoidable or unmanageable amounts of debt. If you ever find yourself in deeper than expected, don’t worry – there are several ways to tackle credit card debt, one way being debt consolidation. If your debt is spread across multiple credit cards with varying rates, that debt could potentially be consolidated on one new, lower rate card.

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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.

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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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Improve Your Account Security with These Simple Steps

By: Holly Love 12.12.19 4 minute read Security

You have a right to privacy and having your secure information protected from prying eyes. The National Credit Union Administration (NCUA), the government agency that regulates credit unions, has various acts and privacy policies in place to hold these financial institutions accountable for keeping this information safe. But why is privacy so important? You may think that you have nothing to hide or that your life is not interesting enough to be kept a secret. However, a carefree mentality can lead to identity theft, stolen banking information, unauthorized account access, and more.

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