Latest News https://wwfcu.org/blog/?p=2406 https://wwfcu.org/blog/assets-first-time-homebuyers-should-have/ Home Loans Credit Building First Time Home Buyers Assets First-Time Homebuyers Should Have Believe it or not, you’ll need more than just a pile of cash to make your first (or second, or third) home purchase. There are other non-monetary assets that you’ll need in order to qualify for a home loan with the lowest interest rate. Add these five assets to your list of things to have Wed, 31 Oct 2018 13:04:19 Z Dan DeRoeck <p>Believe it or not, you’ll need more than just a pile of cash to make your first (or second, or third) home purchase. There are other non-monetary assets that you’ll need in order to qualify for a home loan with the lowest interest rate. Add these five assets to your list of things to have before you begin your house hunt!</p> <p><b>Steady Income</b></p> <p>Proof of a steady, reliable income shows a lender you are capable of affording the monthly mortgage payments and are a low risk for defaulting on the loan. Usually, lenders want to see a work history of at least two years at your current employer or in your current field. If you’re self-employed, the required work history length may be longer.</p> <p>As proof, lenders may ask for a signed letter from your employer stating your position and salary or two years’ worth of paystubs. Or you may be asked to provide your last two years of income tax returns.</p> <p><b>Low Debt-to-Income Ratio</b></p> <p>This ratio is a non-cash asset, but it’s important in the eyes of lenders. Although a lending agent won’t ask for your entire personal budget, they will look at the ratio of your monthly debt obligations (student loans, car loan, credit card balances, personal loans, etc.) to your gross monthly income. This is your debt-to-income ratio. You want to keep this ratio as low as possible, with your estimated new mortgage payment included in the calculations. These days, lenders offer the best mortgage rates to borrowers whose total monthly debts (including the estimated mortgage payments) are no more than 43% of their total gross income.</p> <p>Carrying a high debt-to-income ratio will make it harder to qualify for a mortgage. Before beginning your house hunt, work to pay off current debts and lower that ratio.</p> <p><b>Good Credit Score</b></p> <p>This is another non-cash asset that is an important part of every home-buyers’ mortgage application. Your FICO credit score is the primary way lenders gauge how well you’ve managed credit, loans, and debt in the past and if you pay your bills on time (a big factor when they’re considering you for a mortgage!). Scores fall on a scale of 300 to 850. While a credit score of 670–739 is considered “good,” applicants with a score of 740 or higher are the ones most likely to receive better-than-average rates from lenders.</p> <p>You are allowed one free credit report each year from each of the three credit reporting agencies: Experian, TransUnion, and Equifax. While you’re saving up for a hefty down payment, you can also check on your credit score and work to improve it: pay off debt (e.g. student loans, credit cards, medical debts, etc.), pay all bills on time, and don’t open or close any lines of credit (e.g. store credit card, personal loan, etc.).</p> <p><b>Cash for a Down Payment</b></p> <p>The money you plan to spend as your down payment on a house should be in the form of cold, hard cash in an account you can easily access (not in a CD or share savings account where you may pay a fee for the withdrawal). It can be tempting to put all or part of the down payment on a credit card, but this will affect your debt-to-income ratio, which ultimately lowers your creditworthiness.</p> <p>In order to receive the best loan rate and avoid paying private mortgage insurance (PMI) on a conventional loan, you need to save up for a down payment of at least 20%. With other strong financial elements—like low debt-to-income ratio and excellent credit score—you may be able to put less money down and secure a decent mortgage rate, but you’ll still be taking out a larger loan and ultimately paying more interest on that larger principal over the life of the loan.</p> <p><b>Cash for Closing Costs</b></p> <p>Be sure to earmark some of the cash you’ve saved up as cash for paying closing costs, an often-overlooked home-buying expense. Closing costs include loan origination fee, title search and recording fee, appraisal fee, inspection fee, property taxes, and others. While these costs can vary, they generally fall between two percent and five percent of a home’s purchase price.</p> <p>While you can sometimes roll these costs into the mortgage, it’s best to be able to pay them up front with cash, thereby avoiding a higher monthly mortgage payment and possibly a higher loan rate. You may also pay these fees with monetary gifts from relatives or by negotiating with the seller to have them pay these costs—especially if they’re eager to sell.</p> <p>Original Source: http://lmcu.frc.finresourcecenter.com/House__Home_78904.html?article_id=2725</p> 2018-10-31 13:04 +00:00 2018-10-31 08:04 -05:00 https://wwfcu.org/blog/?p=2390 https://wwfcu.org/blog/wwfcu-celebrates-international-credit-union-day-by-rewarding-its-members/ Uncategorized WWFCU Celebrates International Credit Union Day by Rewarding its Members October 18, 2018 marks the 70th anniversary of International Credit Union (ICU) Day. Since 1948, credit unions around the world have come together annually on the third Thursday in October to commemorate the credit union movement’s history and achievements. About ICU Day For over 150 years, credit unions worldwide have proudly collaborated to put people before Tue, 16 Oct 2018 15:51:37 Z Amy Neale <p>October 18, 2018 marks the 70<sup>th </sup>anniversary of International Credit Union (ICU) Day. Since 1948, credit unions around the world have come together annually on the third Thursday in October to commemorate the credit union movement’s history and achievements.</p> <h4><strong>About ICU Day</strong></h4> <p>For over 150 years, credit unions worldwide have proudly collaborated to put people before profits to provide access to affordable financial services for all members. Credit unions invest their earnings to help members meet their financial goals and provide lower loan rates and better service. Today, over 235 million people are served by credit unions in 109 countries and six continents.</p> <h4><strong>Thanking Our Members<a href="https://wwfcu.org/blog/wp-content/uploads/2018/10/ICUD-Mug-Staff.jpg"><img class="alignright wp-image-2401" src="https://wwfcu.org/blog/wp-content/uploads/2018/10/ICUD-Mug-Staff-1024x883.jpg" alt="" width="326" height="281" srcset="https://wwfcu.org/blog/wp-content/uploads/2018/10/ICUD-Mug-Staff-1024x883.jpg 1024w, https://wwfcu.org/blog/wp-content/uploads/2018/10/ICUD-Mug-Staff-300x259.jpg 300w, https://wwfcu.org/blog/wp-content/uploads/2018/10/ICUD-Mug-Staff-768x662.jpg 768w, https://wwfcu.org/blog/wp-content/uploads/2018/10/ICUD-Mug-Staff-1200x1035.jpg 1200w, https://wwfcu.org/blog/wp-content/uploads/2018/10/ICUD-Mug-Staff-49x42.jpg 49w, https://wwfcu.org/blog/wp-content/uploads/2018/10/ICUD-Mug-Staff-93x80.jpg 93w, https://wwfcu.org/blog/wp-content/uploads/2018/10/ICUD-Mug-Staff.jpg 1280w" sizes="(max-width: 326px) 100vw, 326px" /></a></strong></h4> <p>To thank our members on ICU Day, we&#8217;ll be giving out WWFCU travel mugs in our lobby and a special surprise to those using our drive-thru. Just stop by this Thursday to get your member reward!</p> <p>We love our members and appreciate your continued commitment towards the credit union spirit.</p> 2018-10-16 15:51 +00:00 2018-10-16 10:51 -05:00 https://wwfcu.org/blog/?p=2387 https://wwfcu.org/blog/dont-forget-to-ask-these-questions-when-buying-a-new-car/ Car Loans Don’t Forget to Ask These Questions When Buying a New Car There are many questions you’ll be asking yourself, the dealership sales associate, and probably car review websites before you decide to buy a new vehicle—but here are six questions you should ask before signing any purchase papers. These questions should be your “deal testers,” a way for you to verify the purchase terms, understand all Thu, 11 Oct 2018 15:04:57 Z Dan DeRoeck <p>There are many questions you’ll be asking yourself, the dealership sales associate, and probably car review websites before you decide to buy a new vehicle—but here are six questions you should ask before signing any purchase papers. These questions should be your “deal testers,” a way for you to verify the purchase terms, understand all the fees, and ultimately decide if further negotiation is needed.</p> <p><b>&#8220;What&#8217;s my out-the-door price?&#8221; or “What other fees will I be charged?”</b></p> <p>Usually, up to the point of signing the vehicle purchase contract, you’ve only been discussing and negotiating the price of the car. However, there are always additional fees to pay—some legitimate and unavoidable, others questionable or negotiable. Fees to expect include sales tax, registry and new license costs, tire recycling fees, and a documentation fee.</p> <p><b>“How much is your documentation fee?”</b></p> <p>All car dealers charge a documentation (&#8220;doc&#8221;) fee for filling out the contract to buy a new car. As ridiculous as it may sound, it’s a universal fee charged by all dealerships. Doc fee rates vary state by state. Some states cap the doc fee, usually at a price under $200. Other states don&#8217;t regulate the fee at all, so it can be $500 or more. If you live in a state without a capped fee and feel the fee is too high, your best bet is to negotiate the price of the car down to compensate for the high doc fee, rather than try to get the dealer to waive the fee altogether.</p> <p><b>“Are there any dealer-installed options on the vehicle?”</b></p> <p>Dealers often add options to new vehicles after they receive them from the factory. Options added by dealers are called “add-ons” and the markup can be steep to boost dealership revenue. Add-ons can include nitrogen-filled tires, LoJack car recovery system, window tinting, wheel locks, all-weather floor mats, paint protection, and others. Dealers will sometimes install an add-on to all new cars in their inventory to make it appear as if it’s a standard feature. But, if you know it’s not a standard feature, you won’t be tricked into paying for an add-on you don’t want. Because the mark-up for the feature is set by the dealer, its price can be negotiated by a savvy buyer.</p> <p><b>“What tax credits are available for this vehicle?”</b></p> <p>If you’re considering buying a new fuel-efficient hybrid or electric vehicle, you may be eligible for a federal tax credit. But did you know there are other tax credits that may be available for other types of vehicles? Researching this question before you get to the dealership, as well as asking the sales associate, will give you more information when trying to calculate the final take-home price of a vehicle.</p> <p><b>“How many miles are on the vehicle?”</b></p> <p>This question is important for both internet and in-town shoppers. Even a brand new never-been-owned car can have more miles on the odometer than expected, which may change how much you’re willing to pay for it. Perhaps the vehicle has been taken on a lot of test drives, or it&#8217;s a &#8220;dealer trade” and was driven from one dealership to another. As a general rule, if there are more than 300 miles on a car, you should negotiate a lower price if it isn’t already marked down. For any new car that has higher mileage or has been on the lot for a while, ask to see the “in-service date.” This is the date when the factory warranty begins, and it’s important to know if some of that time has already elapsed before you purchase it.</p> <p><b>“Can you deliver the car?”</b></p> <p>This question applies primarily to internet shoppers. Delivery of your new car is a great last perk to negotiate that saves you time and gas. Vehicle delivery also has the added benefit of allowing you to skip the sales pitches from the finance and insurance manager at the dealership for extended warranties and additional services. If you do want one of these extras, you always have the option of speaking with the appropriate manager over the phone.</p> <p>Original Source: http://lmcu.frc.finresourcecenter.com/Auto_Buying_78855.html?article_id=2717</p> <p>&nbsp;</p> 2018-10-11 15:04 +00:00 2018-10-11 10:04 -05:00 https://wwfcu.org/blog/?p=2375 https://wwfcu.org/blog/wwfcu-dances-its-way-to-a-500-donation/ Uncategorized WWFCU Dances its Way to a $1,000 Donation Never one to shirk from a challenge, the Wayne Westland Federal Credit Union (WWFCU) team decided to take part in the Michigan Credit Union League&#8217;s #KekeChallenge. Set to Drake&#8217;s &#8220;In My Feelings,&#8221; and including dance moves made popular by Instagram comedian theshiggyshow, the WWFCU staff definitely rose to the #KekeChallenge! By participating in the challenge, we&#8217;re Mon, 24 Sep 2018 17:52:25 Z Amy Neale <p>Never one to shirk from a challenge, the Wayne Westland Federal Credit Union (WWFCU) team decided to take part in the Michigan Credit Union League&#8217;s #KekeChallenge. Set to Drake&#8217;s &#8220;In My Feelings,&#8221; and including dance moves made popular by Instagram comedian <a href="https://www.instagram.com/theshiggyshow" target="_blank" rel="noopener">theshiggyshow</a>, the WWFCU staff definitely rose to the #KekeChallenge!</p> <p>By participating in the challenge, we&#8217;re proud to have raised $500, courtesy of the league, for the Children&#8217;s Miracle Network at Beaumont Hospital in Royal Oak. To further support this worthwhile cause, WWFCU is matching the league&#8217;s donation for a total donation of $1,000.</p> <p><a href="https://wwfcu.org/blog/wp-content/uploads/2018/09/CMN-Beaumont.png"><img class="alignnone wp-image-2379" src="https://wwfcu.org/blog/wp-content/uploads/2018/09/CMN-Beaumont.png" alt="" width="446" height="108" /></a></p> <h4><a href="https://l.facebook.com/l.php?u=https%3A%2F%2Fyoutu.be%2FuGm7OX--o0Y&amp;h=AT1fHRS5fn9PIZ2hL4BYtZ6wqt9Lvefwg_fDmJsdYb7J6RlC7oiZvDycOKoghdlOwLZJwnwrW9BMvOMqEebPoqZ9Y0koIhS_ATJjQrfSyYbMP9Z7Yd0k5sQC7CW67qR9mZT2i-AInaUZNGazCN5eT3Rlgu4-ylOpev8y5eXzYdXb7EE5rvkIoHeKaF_Vwxxf6K8MnQewyqOmKHIP6XUuMA5riho3C3KdyjTefIXK-d4pWz46FM7N9VuNlTLx9GuCSnJlSCHBxHaaJuRQ8Rtld10SS60xU1kIcAvt7ooD8Nv6wzq7w1k3fBC7lKvITq6-pFnOUpQ3MDd2Z3YKZKaWo7_h46g_Gh-BkQ5Z33rDpDQSJes77eMu0EsJuZSs0KcV_0YsmFZyvJRRCPDPcxLN8ytN6abUEx016H5N">Take a look at our video here</a>.</h4> <p>If you&#8217;d like to learn more about the credit union #KekeChallenge, <a href="https://www.cujournal.com/news/with-50-000-on-the-line-michigan-credit-unions-go-all-in-on-the-kikichallenge?brief=00000158-73f9-d502-a5fd-7bfbd3d10000">click here</a>.</p> 2018-09-24 17:52 +00:00 2018-09-24 12:52 -05:00 https://wwfcu.org/blog/?p=2373 https://wwfcu.org/blog/your-complete-used-car-buying-guide/ Car Loans Cars Your Complete Used Car Buying Guide If you’re considering replacing your vehicle, have you considered purchasing a used one? The perception of used cars can be somewhat negative. That’s why the market-friendly term “pre-owned” is now more widely used (forgive the pun). However, shopping for a used car can be tricky because every car has a unique, and often hidden, history. Thu, 13 Sep 2018 20:32:20 Z Dan DeRoeck <p class="CxSpFirst">If you’re considering <a href="https://wwfcu.org/products-services/loans/vehicle-loans">replacing your vehicle</a>, have you considered purchasing a used one? The perception of used cars can be somewhat negative. That’s why the market-friendly term “pre-owned” is now more widely used (forgive the pun). However, shopping for a used car can be tricky because every car has a unique, and often hidden, history. The following advice should help you navigate safely through a minefield of lemons.</p> <p class="CxSpMiddle"><b>Look for a Car That Fits</b></p> <p class="CxSpMiddle">Make a list of the features and qualities that you need from the car. For example, do you drive long miles and require good fuel efficiency? Then, make another list of what you’d like. It’s okay to go after a few bells and whistles or sleek styling, but only after you’ve determined the vehicle will be able to meet your driving demands. These lists will help you pick a few models to investigate. Lastly, do a quick online search to see if any of your chosen models have had major recalls.</p> <p class="CxSpMiddle"><b>History Repeats Itself</b></p> <p class="CxSpMiddle">If the car you’re looking at has had problems in the past, it will probably have similar problems in the future. Ask the owner or dealer for the car’s VIN number so you can check its history. There are a number of companies that keep records of incident reports, like AutoCheck and CARFAX., Sometimes report details vary by company, so be sure that you don’t miss anything, it’s a good idea to check the VIN with more than one company.</p> <p class="CxSpMiddle">Needless to say, if the seller won’t provide a VIN, you shouldn’t spend any more time looking at the car. No matter how sweet the car appears on the outside, you don’t want to gamble on what’s under the hood.</p> <p class="CxSpMiddle"><b>Do Your Own Due Diligence</b></p> <p class="CxSpMiddle">Have the vehicle checked out. It’s possible that there has been a recent problem or issue that hasn’t been reported yet. Ideally, you would bring it to a mechanic you trust. If this isn’t a possibility, then bring a knowledgeable friend or a vehicle inspection checklist (easily found online) to over the car.</p> <p class="CxSpMiddle"><b>Finding Fair Prices</b></p> <p class="CxSpMiddle">Compare the listings from the National Automobile Dealer’s Association, Edmunds, and Kelley Blue Book to get an idea of what you should be paying. Actual prices will probably vary, but you’ll have a starting point for negotiation.</p> <p class="CxSpMiddle">If you have a smartphone, check to see if there are any used car pricing apps available. These apps collect information about what other users have recently paid for the same or similar model cars. The results can be hit-or-miss if there’s not much data available, but if there is, then you’ll be in a stronger negotiating position. You might even find some better deals.</p> <p class="CxSpMiddle"><b>Try Before You Buy</b></p> <p class="CxSpMiddle">If everything else seems to check out, take the car for a test drive or two. You want to see how it fares in as many common traffic situations as possible. Take it up to speed on the highway to check for brake alignment or wheel defects. Drive in a city during rush hour to put the transmission through its paces. A slow drive through a neighborhood will let you experience the car’s handling.</p> <p class="CxSpMiddle"><b>A Word About Warranties</b></p> <p class="CxSpMiddle">Many of the cars that you look at will have certification or a warranty. Don’t rely solely on these read the fine print to see what’s actually covered. And remember: even if you trust the seller or dealer, don’t skimp on your own inspection.</p> <p>&nbsp;</p> 2018-09-13 20:32 +00:00 2018-09-13 15:32 -05:00 https://wwfcu.org/blog/?p=2339 https://wwfcu.org/blog/a-brief-overview-of-our-new-atms/ ATM atm cash checks deposit A Brief Overview of Our New ATMs We&#8217;re thrilled to announce our new ATMs are now open and ready to use! While most ATMs are similar, there are a few features of our new ATMs that we’d like to explain. Tilting Screen The new ATM screens can tilt to three different positions to accommodate different vehicle heights and help reduce sun glare Fri, 07 Sep 2018 16:39:31 Z Amy Neale <p>We&#8217;re thrilled to announce <strong>our new ATMs are now open and ready to use</strong>!</p> <p>While most ATMs are similar, there are a few features of our new ATMs that we’d like to explain.</p> <h6><strong>Tilting Screen<a href="https://wwfcu.org/blog/wp-content/uploads/2018/08/tilt.jpg"><img class="size-full wp-image-2343 alignright" src="https://wwfcu.org/blog/wp-content/uploads/2018/08/tilt.jpg" alt="" width="143" height="243" srcset="https://wwfcu.org/blog/wp-content/uploads/2018/08/tilt.jpg 143w, https://wwfcu.org/blog/wp-content/uploads/2018/08/tilt-25x42.jpg 25w, https://wwfcu.org/blog/wp-content/uploads/2018/08/tilt-47x80.jpg 47w" sizes="(max-width: 143px) 100vw, 143px" /></a></strong></h6> <p>The new ATM screens can tilt to three different positions to accommodate different vehicle heights and help reduce sun glare on the screen. You’ll see three buttons to the left of the screen labeled High Vehicle, Mid Vehicle and Low Vehicle as well as drawings that show what type of vehicle fits each category. Pick the right fit for your vehicle and press the button.</p> <h6><strong>No Deposit Envelopes</strong></h6> <p>A great feature of the new ATMs is that you don’t use an envelope to deposit checks or cash into your account. You feed cash and checks directly into the machine. Below the blue card reader slot, you’ll see another slot labelled Cash/Check Deposit. Here are a few tips on how to feed your cash and checks into the new ATMs:</p> <p><a href="https://wwfcu.org/blog/wp-content/uploads/2018/08/cash.jpg"><img class="size-full wp-image-2340 alignleft" src="https://wwfcu.org/blog/wp-content/uploads/2018/08/cash.jpg" alt="" width="169" height="187" srcset="https://wwfcu.org/blog/wp-content/uploads/2018/08/cash.jpg 169w, https://wwfcu.org/blog/wp-content/uploads/2018/08/cash-38x42.jpg 38w, https://wwfcu.org/blog/wp-content/uploads/2018/08/cash-72x80.jpg 72w" sizes="(max-width: 169px) 100vw, 169px" /></a>Just like a drink or snack machine, you’ll feed your cash (bills only, no coins) and checks into the deposit slot <em>(left)</em>. And just like those machines, the ATMs don’t like wrinkled, ripped or taped dollar bills. If you have cash the ATM won’t accept, just use our drive-thru or come in to see a WWFCU teller to make your deposit.<img class="size-full wp-image-2341 alignright" src="https://wwfcu.org/blog/wp-content/uploads/2018/08/checks.jpg" alt="" width="178" height="132" srcset="https://wwfcu.org/blog/wp-content/uploads/2018/08/checks.jpg 178w, https://wwfcu.org/blog/wp-content/uploads/2018/08/checks-57x42.jpg 57w, https://wwfcu.org/blog/wp-content/uploads/2018/08/checks-108x80.jpg 108w" sizes="(max-width: 178px) 100vw, 178px" /></p> <p>Like cash, checks for deposit can’t be wrinkled, ripped or taped. And please make sure you’ve endorsed the back of the check correctly (<em>right</em>).</p> <h6><a href="https://wwfcu.org/blog/wp-content/uploads/2018/08/checks.jpg"><br /> <strong>Questions? Stop by our branch or speak to a WWFCU Member Service Representative at (734) 721-5700.</strong></a></h6> <p><span style="border-top-left-radius: 2px; border-top-right-radius: 2px; border-bottom-right-radius: 2px; border-bottom-left-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font-style: normal; font-variant-caps: normal; font-weight: bold; font-stretch: normal; font-size: 11px; line-height: 20px; font-family: 'Helvetica Neue', Helvetica, sans-serif; color: #ffffff; background-image: url(data:image/svg+xml; base64,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); background-size: 14px 14px; background-color: #bd081c; position: absolute; opacity: 1; z-index: 8675309; display: none; cursor: pointer; border: none; -webkit-font-smoothing: antialiased; background-position: 3px 50%; background-repeat: no-repeat no-repeat;">Save</span><span style="border-top-left-radius: 2px; border-top-right-radius: 2px; border-bottom-right-radius: 2px; border-bottom-left-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font-style: normal; font-variant-caps: normal; font-weight: bold; font-stretch: normal; font-size: 11px; line-height: 20px; font-family: 'Helvetica Neue', Helvetica, sans-serif; color: #ffffff; background-image: url(data:image/svg+xml; base64,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); background-size: 14px 14px; background-color: #bd081c; position: absolute; opacity: 1; z-index: 8675309; display: none; cursor: pointer; border: none; -webkit-font-smoothing: antialiased; background-position: 3px 50%; background-repeat: no-repeat no-repeat;">Save</span></p> <p><span style="border-top-left-radius: 2px; border-top-right-radius: 2px; border-bottom-right-radius: 2px; border-bottom-left-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font-style: normal; font-variant-caps: normal; font-weight: bold; font-stretch: normal; font-size: 11px; line-height: 20px; font-family: 'Helvetica Neue', Helvetica, sans-serif; color: #ffffff; background-image: url(data:image/svg+xml; base64,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); background-size: 14px 14px; background-color: #bd081c; position: absolute; opacity: 1; z-index: 8675309; display: none; cursor: pointer; border: none; -webkit-font-smoothing: antialiased; background-position: 3px 50%; background-repeat: no-repeat no-repeat;">Save</span><span style="border-top-left-radius: 2px; border-top-right-radius: 2px; border-bottom-right-radius: 2px; border-bottom-left-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font-style: normal; font-variant-caps: normal; font-weight: bold; font-stretch: normal; font-size: 11px; line-height: 20px; font-family: 'Helvetica Neue', Helvetica, sans-serif; color: #ffffff; background-image: url(data:image/svg+xml; base64,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); background-size: 14px 14px; background-color: #bd081c; position: absolute; opacity: 1; z-index: 8675309; display: none; cursor: pointer; border: none; -webkit-font-smoothing: antialiased; background-position: 3px 50%; background-repeat: no-repeat no-repeat;">Save</span></p> <p><span style="border-top-left-radius: 2px; border-top-right-radius: 2px; border-bottom-right-radius: 2px; border-bottom-left-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font-style: normal; font-variant-caps: normal; font-weight: bold; font-stretch: normal; font-size: 11px; line-height: 20px; font-family: 'Helvetica Neue', Helvetica, sans-serif; color: #ffffff; background-image: url(data:image/svg+xml; base64,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); background-size: 14px 14px; background-color: #bd081c; position: absolute; opacity: 1; z-index: 8675309; display: none; cursor: pointer; border: none; -webkit-font-smoothing: antialiased; background-position: 3px 50%; background-repeat: no-repeat no-repeat;">Save</span><span style="border-top-left-radius: 2px; border-top-right-radius: 2px; border-bottom-right-radius: 2px; border-bottom-left-radius: 2px; text-indent: 20px; width: auto; padding: 0px 4px 0px 0px; text-align: center; font-style: normal; font-variant-caps: normal; font-weight: bold; font-stretch: normal; font-size: 11px; line-height: 20px; font-family: 'Helvetica Neue', Helvetica, sans-serif; color: #ffffff; background-image: url(data:image/svg+xml; base64,phn2zyb4bwxucz0iahr0cdovl3d3dy53my5vcmcvmjawmc9zdmciighlawdodd0imzbwecigd2lkdgg9ijmwchgiihzpzxdcb3g9ii0xic0xidmxidmxij48zz48cgf0acbkpsjnmjkundq5lde0ljy2mibdmjkundq5ldiyljcymiaymi44njgsmjkumju2ide0ljc1ldi5lji1nibdni42mzismjkumju2idaumduxldiyljcymiawlja1mswxnc42njigqzaumduxldyunjaxidyunjmyldaumdy3ide0ljc1ldaumdy3iemymi44njgsmc4wnjcgmjkundq5ldyunjaxidi5ljq0oswxnc42njiiigzpbgw9iinmzmyiihn0cm9rzt0ii2zmziigc3ryb2tllxdpzhropsixij48l3bhdgg+phbhdgggzd0itte0ljczmywxljy4nibdny41mtysms42odygms42njusny40otugms42njusmtqunjyyiemxljy2nswymc4xntkgns4xmdksmjquodu0idkuotcsmjyunzq0iem5ljg1niwyns43mtggos43ntmsmjqumtqzidewljaxniwymy4wmjigqzewlji1mywymi4wmsaxms41ndgsmtyuntcyidexlju0ocwxni41nzigqzexlju0ocwxni41nzigmteumtu3lde1ljc5nsaxms4xntcsmtqunjq2iemxms4xntcsmtiuodqyideyljixmswxms40otugmtmuntiyldexljq5nsbdmtqunjm3ldexljq5nsaxns4xnzusmtiumzi2ide1lje3nswxmy4zmjmgqze1lje3nswxnc40mzygmtqundyylde2ljegmtqumdkzlde3ljy0mybdmtmunzg1lde4ljkznsaxnc43ndusmtkuotg4ide2ljayocwxos45odggqze4ljm1mswxos45odggmjaumtm2lde3lju1niaymc4xmzysmtqumdq2iemymc4xmzysmtauotm5ide3ljg4ocw4ljc2nyaxnc42nzgsoc43njcgqzewljk1osw4ljc2nya4ljc3nywxms41mzygoc43nzcsmtqumzk4iem4ljc3nywxns41mtmgos4ymswxni43mdkgos43ndksmtcumzu5iem5ljg1niwxny40odggos44nzismtcunia5ljg0lde3ljczmsbdos43ndesmtgumtqxidkuntismtkumdizidkundc3lde5ljiwmybdos40miwxos40nca5lji4ocwxos40otegos4wncwxos4znzygqzcunda4lde4ljyymia2ljm4nywxni4yntigni4zodcsmtqumzq5iem2ljm4nywxmc4yntygos4zodmsni40otcgmtuumdiyldyundk3iemxos41ntusni40otcgmjmumdc4ldkunza1idizlja3ocwxmy45otegqzizlja3ocwxoc40njmgmjaumjm5ldiylja2miaxni4yotcsmjiumdyyiemxnc45nzmsmjiumdyyidezljcyocwyms4znzkgmtmumzayldiwlju3mibdmtmumzayldiwlju3miaxmi42ndcsmjmumdugmtiundg4ldizljy1nybdmtiumtkzldi0ljc4ncaxms4zotysmjyumtk2idewljg2mywyny4wntggqzeylja4niwyny40mzqgmtmumzg2ldi3ljyznyaxnc43mzmsmjcunjm3iemyms45nswyny42mzcgmjcuodaxldixljgyocayny44mdesmtqunjyyiemyny44mdesny40otugmjeuotusms42odygmtqunzmzldeunjg2iibmawxspsijymqwodfjij48l3bhdgg+pc9npjwvc3znpg==); background-size: 14px 14px; background-color: #bd081c; position: absolute; opacity: 1; z-index: 8675309; display: none; cursor: pointer; border: none; -webkit-font-smoothing: antialiased; background-position: 3px 50%; background-repeat: no-repeat no-repeat;">Save</span></p> 2018-09-07 16:39 +00:00 2018-09-07 11:39 -05:00 https://wwfcu.org/blog/?p=2366 https://wwfcu.org/blog/credit-unions-and-small-businesses-a-perfect-partnership/ Business Credit Unions and Small Businesses: A Perfect Partnership Credit unions are not-for-profit, community-based, member-owned financial institutions that are uniquely positioned to help America’s more than 27 million small businesses. They return yearly profits to their members in the form of lower interest rates on loans, lower fees on accounts, and better interest on savings accounts—including business accounts and loans. They also offer smaller Wed, 29 Aug 2018 14:38:54 Z WWFCU <p>Credit unions are not-for-profit, community-based, member-owned financial institutions that are uniquely positioned to help America’s more than 27 million <a href="https://wwfcu.org/products-services/loans/business-loans">small businesses</a>. They return yearly profits to their members in the form of lower interest rates on loans, lower fees on accounts, and better interest on savings accounts—including business accounts and loans. They also offer smaller business loan amounts, which can be a huge advantage for entrepreneurs who are just starting out.</p> <p>Beyond these dollars and cents advantages, credit unions are operated on the principle of “people helping people.” What this means for small businesses is a more personal, local approach to loan approval—often a big hurdle for the new small business. The approval process is more likely to include the credit union’s own interactions with the applicant than a big bank’s universal application process.</p> <p>A credit union is also more likely to understand a communities’ need for and potential success of a small business, as they themselves have deep roots in the community. Credit unions are all about keeping local dollars in the local economy. This was never more evident than during and immediately after the Great Recession.</p> <p>While banks slowed or halted their portfolio growth of small business loans during the Great Recession, credit unions were continually expanding theirs. They stepped in to offer support and services when banks would not. According to the U.S. Small Business Administration (SBA), from 2007–2015 outstanding small business loans at credit unions more than doubled, while similar bank loans shrank by 10%.</p> <p>Access to capital, financial counselling and planning services, and lower-fee accounts is vital to millions of small businesses across the U.S. Credit unions understand this and are uniquely positioned to deliver the tailored finance solutions small businesses need.</p> <p>Original Source: http://lmcu.frc.finresourcecenter.com/Small_Business_Services_78922.html?article_id=2639</p> 2018-08-29 14:38 +00:00 2018-08-29 09:38 -05:00 https://wwfcu.org/blog/?p=2360 https://wwfcu.org/blog/avoid-this-dangerous-facebook-scam/ Fraud Social Media Facebook scam Avoid This Dangerous Facebook Scam Bugs, viruses and ransomware have all forced us to be diligent when it comes to our email. But what about social media? Scammers are tackling Facebook, Twitter and other channels as well. The Better Business Bureau warns that you need to have your guard up wherever, and whenever, you click these days. One Facebook scam Tue, 28 Aug 2018 13:08:02 Z Amy Neale <p>Bugs, viruses and ransomware have all forced us to be diligent when it comes to our email. But what about social media? Scammers are tackling Facebook, Twitter and other channels as well. The Better Business Bureau warns that you need to have your guard up wherever, and whenever, you click these days.</p> <p>One Facebook scam that’s trending involves government grant offers. Why it often works, is it appears to come from a person’s Facebook network of friends. You’ll get a Facebook message that promotes free grant money from the government. The message may also reference other friends or family you have on Facebook that have received the grant to make it seem more legitimate. It may also reference real government agencies or real public figures. No matter how it comes packaged, don’t fall for it.</p> <p>The messages ask you to supply personal information and a payment for “processing fees.” Unfriend and block these users immediately. If it’s from someone you know, chances are they’ve had their Facebook account hacked. Let them know via email or call/text that their account has been compromised. You’ll also want to report the scam and scammer to Facebook.</p> <p>The Better Business Bureau has <a href="https://www.bbb.org/avoidscams/">10 Steps to Avoid Scams </a>as well as a way to <a href="https://www.bbb.org/consumer-complaints/file-a-complaint/get-started">file a complaint about the scammers</a>. Also, if you think your Wayne Westland Federal Credit Union accounts have been compromised, call one of our Member Service Representatives immediately at (734) 721-5700.</p> <p><strong>Don’t forget, Wayne Westland Federal Credit Union members can get <a href="https://www.wwfcu.org/member-benefits/free-member-services/free-identity-theft-protection">free identity theft protection</a>. </strong></p> 2018-08-28 13:08 +00:00 2018-08-28 08:08 -05:00 https://wwfcu.org/blog/?p=2336 https://wwfcu.org/blog/atm-construction-is-underway/ ATM ATM Construction is Underway Monday was the day – our ATM replacement construction is now underway. For the next week or two, the ATMs next to our branch will be closed while we redo the area. While the construction is going on, you can visit our other ATM locations: • Westland Police Department – Lobby, 36701 Ford Road • Tue, 14 Aug 2018 13:43:14 Z Amy Neale <p>Monday was the day – our ATM replacement construction is now underway. For the next week or two, the ATMs next to our branch will be closed while we redo the area.</p> <p>While the construction is going on, you can visit our other ATM locations:</p> <p>• Westland Police Department – Lobby, 36701 Ford Road<br /> • Corner of Sims Street and Second Avenue in Wayne<br /> • <a href="http://www.cuswirl.com">Click here to find a fee-free ATM near you</a><br /> • You’re always welcome to come into our branch for your transactions too!</p> <p>Also, with the ATMs gone, s<strong>o is our night depository</strong>. Our new ATMs will not have this feature. We promise, a night drop solution is coming very soon. In the meantime, you may make your deposits during branch hours either with our friendly tellers or using the Speedy Teller deposit box located in our lobby.</p> <p>We appreciate your patience and understanding during the construction and promise our new ATMs will be worth the wait!</p> 2018-08-14 13:43 +00:00 2018-08-14 08:43 -05:00 https://wwfcu.org/blog/?p=2330 https://wwfcu.org/blog/what-you-need-to-know-about-personal-loans/ Loans What You Need to Know About Personal Loans In recent years, personal loans have become one of the fastest growing loan products. They’re appealing for many reasons: they can offer low interest rates for people with good to great credit, they can be for smaller loan amounts, and they can be used to pay for a range of life’s expenses, including consolidating debt, Mon, 13 Aug 2018 17:03:45 Z Dan DeRoeck <p>In recent years, <a href="https://wwfcu.org/products-services/loans/personal-loans">personal loans</a> have become one of the fastest growing loan products. They’re appealing for many reasons: they can offer low interest rates for people with good to great credit, they can be for smaller loan amounts, and they can be used to pay for a range of life’s expenses, including consolidating debt, covering an unexpected expense, or making home improvements.</p> <p>To determine if a personal loan is the right option for you, you’ll need to understand the loan’s terms and consider your other options for the getting the cash or line of credit you need.</p> <p><strong>Terms of a Personal Loan</strong></p> <p>Personal loans are typically unsecured and aren’t backed by collateral that the lender can use to repay the loan if the borrower defaults on payments. If a lender offers secured personal loans, they will usually use the borrower’s savings account, CD, or share certificate as collateral.</p> <p>A personal loan is also an installment loan where a fixed amount of money is paid back, with a fixed interest rate, in monthly installments over the life of the loan. This period can be anywhere from 12 to 84 months. As with other loans, selecting a longer repayment period lowers the monthly loan payment, but it also means paying more interest overall.</p> <p>Loan amounts range from $1,000 to as high as $50,000. Interest rates vary from five to 36 percent. Both the loan amount and its interest rate will depend on the lender and the borrower’s determined creditworthiness.</p> <p>Most lenders charge a one-time fee, called an “origination fee,” to cover their cost of processing the loan. This fee ranges from one to six percent of the loan amount. Usually this fee is included in the advertised APR of the loan. This means if someone needs a $10,000 personal loan from a lender that charges a five percent origination fee, the total loan will actually be $10,500, and this will be the number the interest rate is calculated on, not the lower $10,000 amount.</p> <p>Some lenders also charge a prepayment penalty if the loan is paid off early. It’s sometimes included in the interest fee (often under the term “pre-computed interest”). If possible, it’s best to avoid taking out a loan with kind of charge as part of the loan terms.</p> <p><strong>Other Lending Options</strong></p> <p>The two other lending options often considered alongside a personal loan are credit cards or a HELOC (home equity line of credit). Which of the three options is the best will largely depend on the borrower’s credit score and if they own a home.</p> <p>Credit cards offer both disadvantages and advantages over a personal loan. In general, credit cards have higher interest rates, those interest rates can increase (on future purchase made on the card or if a payment is made 60 days past due), and it can take up to 30 years to pay off the balance if only minimum payments are made each month.</p> <p>However, on the flip side, if you use a credit card to pay for the expense instead of a personal loan, you could benefit from the card’s rewards, like cashback. With good credit, you could qualify for a balance transfer credit card with a 0 percent introductory APR, allowing you to make the purchase and subsequent monthly payments without interest for a whole year. The last advantage is that a credit card gives you a revolving line of credit—as you pay off the balance, more credit is freed up for you to use again, whereas a personal loan is only for a set amount.</p> <p>For homeowners, they have the option of a HELOC. These are usually for larger loan amounts and they use the equity built up in the home as the collateral in the loan. Like a credit card, a HELCO is a form of revolving credit, allowing you to borrow more as you pay off the credit amount. A HEL, or home equity loan, works on similar principles, but it’s an installment loan. In both cases, if payments aren’t made on the loans, the lender has the right to foreclose on the home as payment.</p> <p><strong>Application Process</strong></p> <p>The application process for a <a href="https://wwfcu.org/products-services/loans/personal-loans">personal loan</a> is similar to other loans. The lender will make a hard inquiry on your credit report. They will consider your income, total debt, and credit score to determine your creditworthiness, which in turn will affect the amount they are willing to lend and at what rate.</p> <p>The hard inquiry on your credit report will affect your credit score, lowering it by a few points. The good news is that consistent, on-time loan payments will earn those points back, plus a few more. While shopping for the best rates and terms on a personal loan, be sure that the lenders are only doing soft pulls as part of the pre-approval process so that your score isn’t lowered further.</p> <p>Original Source: http://lmcu.frc.finresourcecenter.com/Loan__Credit_Management_78913.html?article_id=2681</p> 2018-08-13 17:03 +00:00 2018-08-13 12:03 -05:00