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Financial Literacy

Millennials: Rethink Credit vs. Debit

woman shopping with card

There is a generational divide when it comes to shopping: A CreditCards.com survey indicates that boomers and millennials both choose plastic, but for the older cohort the word is “credit,” and for the younger it is “debit.” Both systems work well but boomers might point out to their juniors that using debit to the exclusion…

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Don’t fall for tech support scams

tech support scam

Although tech support scams have been around for a while, every year they get more sophisticated. Tech support scams target people of all ages, including those that consider themselves tech-savvy.  In fact, a study from Microsoft concluded that millennials are falling for tech support scams at a higher rate than older people. These types of scams…

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Drive off the lot with credit union financing

hundreds white cars one red

Did you know you can get credit union financing right at the car dealership? The process is designed so credit union members benefit several ways. First, as a member of a cooperative you reap the benefits of lower rates offered by White Sands FCU. Credit unions have lower loan interest rates than banks. In 2016,…

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Credit 101: Credit Reports and Scores

credit score

Do you think that your credit score is only important when borrowing money? Guess again. Your credit score, and its accompanying credit report, is being evaluated not only when you want to take out a loan, but also when you apply for a credit card, get insurance for your car or home, rent an apartment,…

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Understanding your debt-to-income ratio

debt-to-income ratio

Have you ever applied for a loan and been told that your debt-to-income ratio was too high? You may have wondered what that meant. Your debt-to-income ratio is the portion of your income that goes to debt payment, and it is a key component of creditworthiness. Lenders consider debt-to-income ratio along with credit score when…

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