Whether it’s a pile of them on your dresser or a lucky one you find out and about, pennies are everywhere. Recently, the penny has been a major point of discussion after the current U.S. administration’s call to end penny production. But what exactly does this mean for consumers? Will one cent make much of an impact?
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When looking for a financial partner to handle and store your money, there may be a variety of factors that go into your decision. Are you looking for accounts that will give you the highest returns on your funds? Or are you seeking guidance you can count on for the right loan options or to kickstart your small business?
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You may have noticed a lot of recent discussion regarding taxes on credit unions. Lawmakers and the current administration are currently discussing tax reform. As a piece of that discussion, they’re looking at changing the credit union federal income tax status. As a member of a credit union, this isn’t just a tax on your financial institution—it’s a tax on you. Credit unions pay billions in state and local taxes each year. If Congress moves ahead with this revision and taxes the profits on credit unions, this will directly affect you as a member. These profits are returned to you in the form of fewer fees, better rates on loans, and higher dividend earnings.
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The first week of March is National Consumer Protection Week, a time dedicated to raising awareness about your rights as a consumer and how you can protect yourself whether you’re shopping online, navigating contracts, or simply making everyday financial decisions.
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We’ve all heard of inflation, whether that be in a high school history class or through a news program of the past few years. But what about deflation and disinflation? At first glance, they may sound like improvements over inflation. However, both terms carry their own weight and, in some respects, consequences.
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Join your fellow members of American Heritage Credit Union on Thursday, October 19, 2023, as we celebrate International Credit Union Day and a major milestone.
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You may have seen in the news that there is a “new” tax for mortgage borrowers with higher credit scores. Bold headlines are claiming that those with a higher credit score will be paying more to subsidize those with lower credit scores, sometimes going as far as to wrongly suggest that you should deliberately lower your credit score to pay less. This has been misconstrued.
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International Credit Union Day ®, also known as ICU Day®, is celebrated on the third Thursday of October. This year marks the 74th anniversary of the day, with the theme “Empower Your Financial Future with a Credit Union™.” This special day is brought to you by World Council of Credit Unions (WOCCU) and Credit Union National Association (CUNA).
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When you think of credit unions, what’s the first thing that pops into your mind? Maybe it’s the great deal you got on your auto loan or the great rate you earn with your savings. Maybe you think of your credit union’s strong ties with its community. All these things are hallmarks of the credit union experience. But your local credit union is also part of something much bigger. It’s a worldwide movement. You might be familiar with some of the things that make credit unions unique. They’re democratically controlled, not-for-profit financial cooperatives that are owned by their members. Instead of being driven by profits, credit unions are built on the philosophy of “people helping people” and focused on supporting their members’ financial well-being. It’s an idea that goes way back. In feudal Japan, lending cooperatives helped members pool money to access interest-free short-term loans. By the late 1800s, the earliest examples of modern-day credit unions were springing up across Europe. In both cities and rural communities, these cooperatives helped everyday people participate in a banking system for the first time.
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