twitterfacebookInstagramLinkedin
Palisades Credit Union Go to main content

Blog

Home

Blog

7 Good Money Habits to Teach Your Kids10/23/2019

happy family at the table with piggy bank

Looking back on your own childhood, what did you learn about money and how did you learn it? Perhaps you held part-time jobs from an early age to cover your personal expenses, save for college, or buy a car. Did you have an allowance?

Read More »
Share: Share on Facebook: 7 Good Money Habits to Teach Your Kids Share on Twitter: 7 Good Money Habits to Teach Your Kids

Is a New or Used Car Right for Me?1/19/2019

Are you buying a car in 2019?

Car

If so then you may have to decide whether a used or new car will be right for you and your needs.

Read More »
Share: Share on Facebook: Is a New or Used Car Right for Me? Share on Twitter: Is a New or Used Car Right for Me?

Ditch Debt This Year!1/8/2019

In 2017, 28% of Americans made their New Year’s Resolution to pay down debt.

Debt

If this was your resolution too read on for our five tips to make 2019 the year you ditch debt for good!

Read More »
Share: Share on Facebook: Ditch Debt This Year! Share on Twitter: Ditch Debt This Year!

Save More Money in 2019!1/3/2019

Was one of your resolutions for this year to save more money?

Save More

Here are some of our best tips and tricks to help you save more and achieve your financial goals this year.

Read More »
Share: Share on Facebook: Save More Money in 2019! Share on Twitter: Save More Money in 2019!

Save on Your Heating Bill With These Tips!12/5/2018

Are you looking to cut costs this holiday season?

snow-covered house

Or did you just have sticker shock the last time you opened your heating bill? No matter what your reason, you can save money on your monthly heating bill with these tips.

Read More »
Share: Share on Facebook: Save on Your Heating Bill With These Tips! Share on Twitter: Save on Your Heating Bill With These Tips!

Be Smart When Paying with your Smart Phone12/5/2018

Are you using your smart phone or a mobile wallet to pay for purchases over the holiday season?

The ease and convenience of these options have made them increasingly popular in the past years. Some experts say that paying with a smart phone can even be more secure than paying with credit or debit cards. But that doesn’t mean they are immune to fraud. Here’s what to look out for and ways to protect your identity when paying with a smart phone.

Read More »
Share: Share on Facebook: Be Smart When Paying with your Smart Phone Share on Twitter: Be Smart When Paying with your Smart Phone

Save Money on Last Minute Gifts12/5/2018

It happens to the best of us, it’s just three days before Christmas and you’re still not done shopping for gifts.

If you’re scrambling to get gifts and stick to your budget here are some tips. And don’t worry, there are no DIY presents on this list!

Read More »
Share: Share on Facebook: Save Money on Last Minute Gifts Share on Twitter: Save Money on Last Minute Gifts

Is Debt Consolidation or Forgiveness Right For you?11/28/2018

Are you in debt?

You’re not alone. Nearly ¾ of all Americans have debt, including mortgages, student loans, credit card, auto and medical debt. If you’re struggling with debt there may be options available to you. Read on to learn more about debt forgiveness and debt consolidation and see which one is right for you.

Read More »
Share: Share on Facebook: Is Debt Consolidation or Forgiveness Right For you? Share on Twitter: Is Debt Consolidation or Forgiveness Right For you?

Thanksgiving on a Budget11/16/2018

Thanksgiving may not be known as the most expensive holiday in the winter season, but costs can add up quickly.

Between travel, décor, and dinner it’s easy to go ham and overspend. Use these tips from PCU to host a great Thanksgiving on a budget!

Read More »
Share: Share on Facebook: Thanksgiving on a Budget Share on Twitter: Thanksgiving on a Budget

Holiday Survival Guide11/8/2018

From worrying about your waistline to your wallet, there are many reasons the holidays can be stressful.

Thankfully, we’ve put together a Holiday Survival Guide that gives you weekly action items. So, you can spend more time celebrating with friends and family this holiday season.

Read More »
Share: Share on Facebook: Holiday Survival Guide Share on Twitter: Holiday Survival Guide

Welcome RTCFCU members to Palisades! 10/16/2018

Change is always welcomed at Palisades Credit Union as well as new memberships.

Read More »
Share: Share on Facebook: Welcome RTCFCU members to Palisades! Share on Twitter: Welcome RTCFCU members to Palisades!

International Credit Union Day: Celebrate Credit Unions with PCU!10/9/2018

October 18, 2018 will mark the 70th anniversary of International Credit Union Day.

This year’s theme is “Find Your Platinum Lining.” It combines the traditional gift of platinum for 70th anniversaries with a play on the saying “every cloud has a silver lining.”

Read More »
Share: Share on Facebook: International Credit Union Day: Celebrate Credit Unions with PCU! Share on Twitter: International Credit Union Day: Celebrate Credit Unions with PCU!

How to Buy A Used Car9/18/2018

Buying a used car can be a confusing or daunting process, especially if you’ve never bought a car before.

And with nearly 40 million used cars sold a year, how do you know you’re making the best choice for you? Keep reading to see our tips for buying a used car you’ll love at a price you’ll love!

Read More »
Share: Share on Facebook: How to Buy A Used Car Share on Twitter: How to Buy A Used Car

Fact or Fiction: Common Credit Union Myths9/18/2018

Credit Unions have been around for over 100 years, but there is still a lot of misinformation surrounding them.

Below are seven common credit union myths including PCU and how we prove them wrong!

Read More »
Share: Share on Facebook: Fact or Fiction: Common Credit Union Myths Share on Twitter: Fact or Fiction: Common Credit Union Myths

How Can I Pay Off my Credit Card Debt Faster?9/5/2018

Do you have credit card debt?

You’re not alone — 50% of consumers in the U.S. have credit card debt. If you have credit card debt, it can be a monthly burden on you and your family, so here are three tips to help you pay off your credit card debt faster.

Read More »
Share: Share on Facebook: How Can I Pay Off my Credit Card Debt Faster? Share on Twitter: How Can I Pay Off my Credit Card Debt Faster?

Can You Pass Our Financial Literacy Quiz?9/5/2018

Only one-third of Americans can pass a basic financial literacy quiz.

Do you think you can do better? Take our financial literacy quiz below and get three or more questions right to pass. Ready to begin…

Read More »
Share: Share on Facebook: Can You Pass Our Financial Literacy Quiz? Share on Twitter: Can You Pass Our Financial Literacy Quiz?

Freshmen Finances: Financial Essentials for First-Time College Students9/5/2018

College is an exciting time where you will be trying and learning many new things.

Make sure you learn how to take care of your finances while you’re away from home for the first time! Read on to see what PCU recommends for every college freshman.

Read More »
Share: Share on Facebook: Freshmen Finances: Financial Essentials for First-Time College Students Share on Twitter: Freshmen Finances: Financial Essentials for First-Time College Students

Stay Safe Online: Cyber Security Tips from PCU7/26/2018

Last month Timehop announced it had been the target of a security breach that affected millions of people.

It seems that there are more and more security breaches that can compromise your identity and lead to identity theft. Here are some tips to help protect you and your identity online!

Read More »
Share: Share on Facebook: Stay Safe Online: Cyber Security Tips from PCU Share on Twitter: Stay Safe Online: Cyber Security Tips from PCU

College Majors That Pay!7/26/2018

Everyone knows going to college is a great way to make money.

A recent study found college graduates earn $1 million more in their lifetime than high school graduates. But some majors earn more money than others. Here are some of the highest paying college majors!

Read More »
Share: Share on Facebook: College Majors That Pay! Share on Twitter: College Majors That Pay!

Should I Get a Store Credit Card?7/26/2018

You’ve probably been asked when checking out if you would like to save 10, 15, and even 20% off your total, by getting a store credit card.

While this discount can be very tempting, are store credit cards worth it in the long run? Read on to find out!

Read More »
Share: Share on Facebook: Should I Get a Store Credit Card? Share on Twitter: Should I Get a Store Credit Card?

Tips for First Time Home Buyers6/29/2018

Becoming a home owner for the first time is a momentous occasion, but it can also be a little intimidating.

If you want to become a homeowner but don’t know where to start, here are some tips for making the most of your home search.

Read More »
Share: Share on Facebook: Tips for First Time Home Buyers Share on Twitter: Tips for First Time Home Buyers

Going on Vacation? Use These Tips to Save6/27/2018

Summer vacations are super fun, but they can be expensive!

The best way to save money is to plan and save up for it accordingly, but even if you haven’t, you can still save money while on your trip. Use these tips to save while you’re gone and remember to let PCU know where you’re going so there’s no interruption in your service!

Read More »
Share: Share on Facebook: Going on Vacation? Use These Tips to Save Share on Twitter: Going on Vacation? Use These Tips to Save

10 Mortgage Terms You Need to Know6/27/2018

Buying a home and getting a mortgage will be one of the biggest financial decisions of your life!

Whether this is your first home or you’re a seasoned pro who just needs a refresher, here are the terms you need to know to help you make the most of your mortgage!

Read More »
Share: Share on Facebook: 10 Mortgage Terms You Need to Know Share on Twitter: 10 Mortgage Terms You Need to Know

Credit Card Dos and Doníts6/27/2018

Credit cards can be a great tool to help you and your finances – if you know how to use them properly.

Whether you’ve never had a credit card before or just want to take better care of your credit card, here are our six credit card dos and don’ts to help you!

Read More »
Share: Share on Facebook: Credit Card Dos and Doníts Share on Twitter: Credit Card Dos and Doníts

Traveling Tips6/11/2018

Summer is quickly approaching.

Whether you’re planning a family vacation or just want to escape abroad here are some tips to help prepare to spend money internationally.

Read More »
Share: Share on Facebook: Traveling Tips Share on Twitter: Traveling Tips

Make the Most of Your First Paycheck6/4/2018

If you just graduated college, congratulations!

Like thousands of other recent college alumni, you may be starting your first full-time, salaried job and earning your first paycheck. Here are a couple things you can do now, to make sure you set yourself up for financial success for now and later!

Read More »
Share: Share on Facebook: Make the Most of Your First Paycheck Share on Twitter: Make the Most of Your First Paycheck

How Much Does College Cost and How Can I Pay For it? 5/25/2018

How Much Does College Cost?

The cost of college has been steadily rising for years, and a four-year degree is no small expense. For the 2017-18 school year the average cost of a bachelor’s degree ranged from $9,970 for an in-state public school to $34,740 for a private school degree. This estimate only covers the cost of tuition, but there are many other expenses to consider when paying for college, like fees, supplies, room and board, and everyday living expenses. For example, for a private college in New York City, they estimate you will have to spend an extra $10,00 - $20,000 a year to cover room and board and all other associated college costs. As you can see, the cost of college can vary greatly, but no matter where you go, college is not cheap. So, how can you pay for college?

Read More »
Share: Share on Facebook: How Much Does College Cost and How Can I Pay For it? Share on Twitter: How Much Does College Cost and How Can I Pay For it?

The Best Budget for You5/25/2018

Making and sticking to a budget.

Making and sticking to a budget is one of the most important steps to taking control of your finances and achieving your goals, but many Americans can’t stick with it. Help yourself succeed by choosing a budget that fits your lifestyle!

Read More »
Share: Share on Facebook: The Best Budget for You Share on Twitter: The Best Budget for You

Can You Afford Your Dream Vacation?5/22/2018

Everyone deserves a great vacation occasionally, but it’s no secret that traveling is not cheap.

Do you know how much it costs to travel to popular vacation destinations? Keep reading to see what it costs to have a dream vacation, and how you can afford it.

Read More »
Share: Share on Facebook: Can You Afford Your Dream Vacation? Share on Twitter: Can You Afford Your Dream Vacation?

Stress Less: Five Tips to Take the Stress out of Finances4/26/2018

For many Americans, money can be of the biggest causes of stress.

Since April is Stress Awareness Month, we’re sharing five tips for ways you can take the stress out of your financial planning.

Read More »
Share: Share on Facebook: Stress Less: Five Tips to Take the Stress out of Finances Share on Twitter: Stress Less: Five Tips to Take the Stress out of Finances

The Best Home Upgrades to Increase Your Home Value4/14/2018

One of the biggest investments you will ever make is the purchase of a home.

You want to make the most of your investment, so consider one of these home projects to add value to your home!

Read More »
Share: Share on Facebook: The Best Home Upgrades to Increase Your Home Value Share on Twitter: The Best Home Upgrades to Increase Your Home Value

Are You Prepared for a Rainy Day: How to Build an Emergency Fund4/6/2018

What is an Emergency Fund?

An emergency fund is a savings account that is there for a rainy day. It can help you cover major unexpected expenses like car repairs, medical bills, and even unemployment. You need an emergency fund because it provides a buffer in situations that may otherwise have you take out high interest loans or increase your credit card debt. If you already have those kinds of obligations or don’t have any savings at all, an emergency fund is essential to your financial health!

Read More »
Share: Share on Facebook: Are You Prepared for a Rainy Day: How to Build an Emergency Fund Share on Twitter: Are You Prepared for a Rainy Day: How to Build an Emergency Fund

Put All Your Eggs in One Basket3/23/2018

Did you know that one in three Americans has nothing saved for retirement?

While it is better to start saving for retirement sooner rather than later, it is never too late to start saving. The best way to begin saving for your retirement is through an Individual Retirement Account or IRA.

Read More »
Share: Share on Facebook: Put All Your Eggs in One Basket Share on Twitter: Put All Your Eggs in One Basket

7 Smart Things to do With Your Tax Refund in 20183/15/2018

You may not look forward to doing your taxes, but you probably look forward to getting your tax refund.

But before you start spending your refund on impulse buys, consider putting your refund to good use and ensuring your financial stability for the future. Here are seven smart things to do with your tax refund this year.

Read More »
Share: Share on Facebook: 7 Smart Things to do With Your Tax Refund in 2018 Share on Twitter: 7 Smart Things to do With Your Tax Refund in 2018

Create and Stick to a Wedding Budget3/6/2018

Spring brings new life, beautiful blooms — and the start of wedding season!

Warmer months are the most popular time of the year to get married, and the average wedding cost $35,329 in 2016. You don’t need to spend thousands of dollars to have your dream wedding, but you should be prepared no matter what your budget is. Before you start picking out colors and venues, here are our tips to help you create and stay on budget for your big day!

Read More »
Share: Share on Facebook: Create and Stick to a Wedding Budget Share on Twitter: Create and Stick to a Wedding Budget

Choose Credit Unions2/9/2018

You may have heard that last month, one of the big banks announced they will no longer offer free checking for customers with low balances.

This decision prompted many people to look for alternative ways to bank. Credit Unions, like Palisades CU, are a great option for people who are worried about being charged to bank at big banks or want to bank with people that know and care about them. So, what is a credit union and what advantages do they offer?

Read More »
Share: Share on Facebook: Choose Credit Unions Share on Twitter: Choose Credit Unions

Valentine's on a Dime2/3/2018

Flowers. Chocolate. Dinner and a movie?!

Expectations may be high on Valentine’s day but that doesn’t mean the bill has to be too! Here are some ideas for any budget to make this a Valentine’s Day to remember.

Read More »
Share: Share on Facebook: Valentine's on a Dime Share on Twitter: Valentine's on a Dime

Get Organized with Palisades CU1/17/2018

This year Palisades CU can help you get — and stay — organized! Our online and mobile banking system was designed for people that are always on the go, like you! If you enroll in online banking you will you have less errands to run, less paper cluttering your house, and fewer due dates to remember every month. If you’re ready to have peace of mind when it comes to your finances read more about how online banking and all the services it comes with was made for you!

  1. E-Statements
    If you find yourself buried in a pile of paper statements every month, you can enroll in our e-statements. E-statements have plenty of benefits over paper statements. You can also create budgets, set goals and see real time account balances online! They can help keep your home free of clutter, are more easily searchable with the search function on computers, and they’re also good for the environment!
     
  2. Online Bill Pay
    When you enroll in e-statements, it makes sense to enroll in online bill pay at the same time. When you enroll you’ll be able to pay your bills all from one place, so no more visiting multiple websites or post office trips. This cuts down on the paper statements around your house, keeping track of check books, stamps and envelopes, or remembering to call to pay your bills on their due date every month.
     
  3. Automate Paying Your Bills
    Take your organization one-step further and set-up automatic monthly payments. No more paper statements, no more remembering to schedule your payment, no more penalties! You can have total peace of mind knowing your bills are paid on time every month, with no extra effort on your part. Just set it up once and you’re done!

Have you registered for online banking yet? If not, what are you waiting for? Go to our website and click ‘sign-up for online banking’ right from our homepage to get started!

Share: Share on Facebook: Get Organized with Palisades CU Share on Twitter: Get Organized with Palisades CU

10 Ways to Make Your Resolutions Stick1/6/2018

Did you know only 8% of Americans achieve their New Years resolutions? While 40% of Americans make resolutions on January 1st, very few actually stick to them. There are many reasons why resolutions may fail, like they’re too lofty or not being specific. Sometimes 12 months is just too daunting! If you want to be one of the 8% who achieve their goals, here are 10 tips to make your resolution stick this year.

  1. Write it Down
    You’re 42% more likely to achieve a goal if you write it down.
     
  2. Start Small
    Instead of 7 days a week at the gym, start with three or four.
     
  3. Break it Down
    Break your goal down into monthly goals with progress checks so they seem more manageable.
     
  4. Be Specific
    It’s easier to save more money from your paycheck when you have a specific amount you’ve set.
     
  5. Be Accountable
    Hold yourself accountable, or get your family, friends and online community to help and encourage you.
     
  6. Take Responsibility for Your Actions
    Support helps, but ultimately it is up to you! Take responsibility for your actions, do the work and don’t give up on yourself.
     
  7. Talk About Your Resolutions
    Sharing your goals and your progress with others makes you more accountable (see number 5!)
     
  8. Change One Behavior at a Time
    Making too many changes at once makes them harder to stick to, and easier to be discouraged.
     
  9. Reward Yourself for Meeting Smaller Goals
    If you want to run a marathon, reward yourself after your first 5k, 10k, and half marathon!
     
  10. Don’t Beat Yourself Up
    If you make a mistake forgive yourself and start over, slip-ups happen.

If any of your 2018 resolutions are to save money, invest, or pay off debt, PCU is here to help you! You can open a savings account, learn more about investing and options that make sense for you and your family with our financial advisors or we can help you consolidate your student loans to pay them off sooner! Big or small, we can help you achieve any of your goals this year!

Share: Share on Facebook: 10 Ways to Make Your Resolutions Stick Share on Twitter: 10 Ways to Make Your Resolutions Stick

Four Financial Resolutions to Try This Year1/2/2018

Many people think of the New Year as a time to get in shape, but have you ever considered getting your wallet into shape? With the fresh start of a new year, now could be a great time for you to tackle some new resolutions that can help your finances and secure your future! Here are four attainable financial resolutions for you to try in 2018.

  1. Develop an Organization Plan to Stay on Top of Your Finances
    The first step to getting on top of your finances is knowing when, where, and what you spend money on. To do this you have to have an organization system. There are apps for this, you could use a spreadsheet, or make it part of your bullet journal. The important thing is you find an organizational process that works for you so you stick with it.
     
  2. Commit to No-Spend Days
    No-spend days are exactly what they sound like, a day where you spend 0 dollars. Committing to no-spend days once a month or week can help you better understand all the little purchases you make in a day, like bottled water or to-go coffee. Then you can plan ahead so you don’t spend and save some money on your no-spend days too!
     
  3. Fast-track Debt Pay-off Goals
    Instead of saying you will pay off all your debt this year (a lofty goal) instead aim to just increase your payments on a debt pay-off goal you already have in place. Whether you have credit card debt or student loans, just contributing 50 extra dollars a month can make a big difference in how quickly you reach your goals!
     
  4. Check Your Statements Regularly
    Do you know how much is in your account at any given time, or what your credit card balance is at the end of every week? If you’re not checking your statements regularly you could be hurting your chances at financial goal success. If you operate under the “as long as my card isn’t declined I’m good” system, make your 2018 resolution to check your accounts daily. Our mobile banking app makes it easier than ever!

No matter what your financial resolution is for 2018, PCU is here to help you! If you want some help in learning more about investing and options that make sense for you and your family you can talk to one of our financial advisors or we can help you consolidate your student loans to pay them off sooner! Big or small, we can help you achieve any of your goals this year!

Share: Share on Facebook: Four Financial Resolutions to Try This Year Share on Twitter: Four Financial Resolutions to Try This Year

Savings Tips for 40s, 50s and 60s12/27/2017

Our last blog focused on savings in your 20’s and 30’s. This week were giving you some tips on how to save in your 40’s, 50’s and 60’s. Your life can change a lot in these decades, but saving is just as important now as it was earlier in life, and it’s time to get serious about saving for retirement. Read on to see our simple tips to help you save and plan for your future.

In Your 40’s

  • Eliminate debt. If you have any debt, like credit card debt, medical bills, or college loans you should work to pay these off so that you can channel more energy into saving for retirement and other savings goals.
  • Get the most out of your credit card by using it and paying it off every month, while taking advantage of cash back or points for vacations (if you weren’t doing this already).
  • Make sure you have enough insurance for a disaster. You should have enough medical, home, auto and life insurance that your family will be taken care of in an accident or death.

In Your 50’s

  • Map your retirement strategy by looking to see how much you will need in retirement and where you are now. You will be able to see any gaps in your savings and better stick to your plan.
  • Save any extra moneylike holiday bonuses. The most successful savers at this age also saved any raises and banner commissions for their future.
  • Make catch-up contributions on your 401(k). Once you are 50 or over you can add an extra-untaxed 6,000 dollars a year to your 401(k) to help for retirement.

In Your 60’s

  • Pay off your mortgage, if it is possible for you to do so. The people who retire with no debt stress less, so while you’re still working refinance your home or make an extra payment or two in the year to help pay down this debt.
  • Downsize your lifestyle by taking a look at what you really do and don’t need, such as a multi-bedroom house or second car if all your kids have moved out.
  • Make a budget and stick to it! Much like your 20’s you’ll want to make and stick to a budget so that you don’t outlive your money. Seeking the help of a financial planner now will greatly help you plan for the rest of your retirement.

No matter where you are on your savings journey, seeking the advice and counsel of a financial advisor can help you get, or stay, on the right track. Even if you just have a question about any of these tips we can help. Come see one of PCU’s great financial advisors today!

Share: Share on Facebook: Savings Tips for 40s, 50s and 60s Share on Twitter: Savings Tips for 40s, 50s and 60s

Savings Tips for People in their 20s and 30s12/21/2017

Saving money is an important step to take to plan for your future and to be financially secure in life. But did you know, the way you save in your 20’s and our 60’s could look completely different? The one thing that will remain the same through out the years is the importance of saving! So no matter where you are in life, it’s never too soon to start your savings journey. Here is the first of two blogs on saving for any age, with some tips to help you start saving.

In Your 20’s

  • Establish, and stick to, a budget. Ideally 50% of your income will go towards non-negotiable items like rent and groceries, 30% towards savings, and 20% towards fun expenses like eating out.
  • Open a 401(k), especially if one with fund-matching is offered at your job. If you start an IRA now, even if you don’t touch it, that money will grow and put you on the right track later in life.
  • Start an emergency fund. Start by saving at least three months worth of expenses for a good sized emergency fund you can rely on in case of medical mishap or unemployment.

In Your 30’s

  • Open an investment account and work with a financial advisor, like the ones at Palisades CU. Investment funds are one of the effective ways to build wealth and opening one now will prepare you for your future, no matter what your goal.
  • Increase your 401(k) contribution or open another retirement account, such as a Roth IRA.
  • Plan for your other savings goals, whether they be buying a home, college for your kids, vacations, or something else. Retirement should always be on the table when saving but you’ll want to plan for those other big expenses as well.

No matter where you are on your savings journey, seeking the advice and counsel of a financial advisor can help you get, or stay, on the right track. Even if you just have a question about any of these tips we can help. Come see one of Palisades CU’s great financial advisors! Stay tuned for our next blog which will focus on saving in your 40’s, 50’s and 60’s!

Share: Share on Facebook: Savings Tips for People in their 20s and 30s Share on Twitter: Savings Tips for People in their 20s and 30s

Buying A Car For The Holidays?12/11/2017

Many people purchase cars for the holidays for a variety of reasons. Some people give cars as gifts to loved ones and others just take advantage of all the sales and end of year pricing happening on car lots at this time of year. If you are purchasing car this holiday season you’ll want to make sure you walk in prepared to get the best deal, so we’ve put together a list of tips to help you buy a car this holiday season.

  1. Get Pre-Approved
    Dealerships will have their own financing options, but it may not be the best option for you or they not even offer the lowest APR (annual percentages rate). By getting pre-approved by an institution like Palisades Credit Union you will know exactly how much you can afford, and we may be more willing to work with you if you have a lower credit score than a dealership.
     
  2. Do Your Research
    Before you get to the dealership know what kind of car you want, and what features. If you walk on to the lot without an idea of what you want, or don’t want in a car you may end up paying more than you can easily afford, or be talked into buying a lot of features you won’t use. Being prepared will help you stick to your budget.
     
  3. Compare Prices and Warranties
    Once you have a car picked out, don’t just go with the first price you see. You should email or call three dealerships that have the car you want in stock and ask for the total sales price. You can compare these prices and go with the best one, or if you want to, see if your preferred dealer will match the lowest quoted price.  You should also try and choose the dealership that offers the best warranty, and can use the same tactic for getting the lowest price to get a better warranty.

If you do have any questions about financing a new car this holiday season or what you can afford, we’re here to help you. You can come talk to us in person at any of our branch locations, or take advantage of our online auto loan application and get pre-approved for an auto-loan!

Share: Share on Facebook: Buying A Car For The Holidays? Share on Twitter: Buying A Car For The Holidays?

Money Saving Tips for the Holidays11/17/2017

The holidays are a great time to reconnect with friends and family, enjoy time together and are generally considered a time of cheer and good tidings. But for some the holidays can be stressful, due to the amount of money spent around the holidays. The National Retail Federation predicts Americans will spend over 670 million around the holidays in 2017, and in 2016 the average American spent $929 on gifts. Don’t let the spirit of giving get the best of you and your finances. Here are six ways to help you save money on gifts and other expenses this holiday season.

 

  1. Make and Stick to a Budget
    Before you make a list of who you need to buy gifts for, make a budget. Then you can go in and see how much you can afford to spend per person on your list, or shorten your list of gift recipients if you need to. Once you’ve set a dollar amount for each person it’s important to stick to that amount to stay on track.

 

  1. Start Early
    While the official holiday shopping season typically starts on Black Friday, you can begin looking for presents year-round. Even by starting a few weeks early like in October, you will have the opportunity to spend over a longer period and avoid last minute costs like shipping fees or high prices for popular gifts.

 

  1. Make DIY presents
    If you have a special skill or talent that can be a great source of gifts. You can babysit for your friends, teach them how to make your signature dish if you’re a great cook, or take family portraits if you’re a photographer. If you’re crafty you can make gifts like jewelry or a hand knit hat.

 

  1. Pay Cash
    Paying in cash is an easy way to see how much money you are spending and help you stick to that initial budget. It’s also easier to skip those small purchases like a hot chocolate at the mall when you shell out cash instead of swiping your debit or credit card.

 

  1. Create a Gift Exchange for Large Families
    For large families it is costly and impractical to buy a gift for everyone. Instead you can do a White Santa gift exchange or draw names out a hat to see who everyone will buy a gift for. You can also set a budget. Even if the budget is 50 dollars or more, buying one gift at that price instead of smaller gifts for every cousin is still more cost effective.

 

  1. Take Advantage of Love to Shop Rewards
    One of the Palisades Perks you have as a member as a Palisades Credit Union member is access to Love to Shop Rewards. Just register for a Love to Shop account and earn cash back from hundreds of online retailers like Target, Neiman Marcus, The Home Depot and more when you pay with your credit union debit or credit card.
Share: Share on Facebook: Money Saving Tips for the Holidays Share on Twitter: Money Saving Tips for the Holidays

Start Saving Young11/15/2017

Saving money is an important step to building wealth and having financial security in your future, and it’s never too soon to start teaching your kids good saving habits. Building good habits when they’re young can help ensure your child’s future and will enable them to make sound decisions with their money when they go to college or leave the home. You have a huge part in helping shape these habits, and it’s never too soon to start! Use these six tips to help your kids start building good saving habits now.

  1. Set a Good Example
    You are your kids first example of how to spend and save money. You can have a jar that you put small bills into in a place that your child can easily see, and even make a point of putting money into your savings jar when they are watching. This shows your child that saving is normal and easy to do.

 

  1. Start a Conversation
    Just talking to your kids about how they spend their money can encourage them to save. For younger kids you can ask them about a toy or other item they would like to buy and how savings can help them reach that goal. For older kids you can introduce the idea of interest. The example of doubling pennies everyday can turn into 10 million dollars by day 31.

 

  1. Use See-Through Jars
    A clear jar makes savings visible and accessible for kids. If you provide your child with an allowance give it to them in denominations that encourage savings. For example, if your child gets five dollars a week give it to them in one-dollar bills, that way the money can be split into different jars instead of being spent at once.

 

  1. Look for Good Deals With Them
    You can help your child understand more about money, spending and savings by encouraging them to compare prices or wait for sales to happen. If there is a game or book your child wants at the store you can help them search online for lower priced options. Or you can have your child help you at the grocery store by clipping coupons or comparing prices in the aisle.

 

  1. Open a Youth Account for Them
    Once your child has started to think about saving or has filled a jar or piggy bank at home, it is time to open a savings account for them. Before you open the account have them count the money they already have saved at home, so they know how much they will deposit. Then they can open a savings account with you at your local credit union. At PCU all you need to start a youth account is 5 dollars!
Share: Share on Facebook: Start Saving Young Share on Twitter: Start Saving Young

Now is the Time to Buy a New Home11/13/2017

Winter is not a popular time to move. In fact, most Americans move between May and September. While the idea of moving in the cold months and possibly having to deal with adverse weather conditions may not be appealing, moving during the winter can save you lots of money. Read on to see the three ways starting your new home search now can save you!

  1. Less Competition
    Because so few people want to face the cold and potential snow to move between November and February, there is less competition for everything you need to move. Asking neighbors and friends for their old boxes and packing supplies can be a cost save, and during the winter there will be less people clamoring over these items. There will also be less competition to hire a mover, which means you can get your first choice. And there will be less competition when you put an offer. This can limit the potential of multiple offers, bidding wars, and sellers will be more eager to work with you!
     
  2. Lower Prices
    It is well documented that homes are less expensive in the winter, with closings that happen in January proving to have the most bang for your buck. In 2014 the median price of homes during the summer was 220,000, but prices dropped to below 200,000 in January 2015.  Not only are homes typically priced lower in the winter months, but you can get discounts on movers too. Because less people are moving during winter you can get a deal on a mover, often get your first choice in company, date and van size, and you can sometimes make last minute reservations without penalty.
     
  3. Mortgage Rates May Change
    Mortgage rates don’t always change from year to year but there is always the chance that they will go up in the new year. Mortgage rates are still at historically low prices though, so you should lock in a rate now. PCU offers great rates on mortgages, and with our online application you can know how much you will be approved for quickly. Or you can come into one of our branch locations and talk to someone about your loan options in person. Our staff is ready to help you buy the home of your dreams this winter!
Share: Share on Facebook: Now is the Time to Buy a New Home Share on Twitter: Now is the Time to Buy a New Home

Palisades CU Assumes Loans, Assets, and Shares10/30/2017

Palisades Credit Union Assumes Loans, Assets, and Shares

 

(Pearl River, NY) – The National Credit Union Administration (NCUA) liquidated New York State Employees Federal Credit Union (NYSEFCU) on October 27, 2017. Palisades Credit Union immediately assumed most of New York State Employees Federal Credit Union’s assets and all member shares and loans.

The new Palisades Credit Union members should experience no interruption in services. Members’ accounts remain insured by the National Credit Union Share Insurance Fund. Administered by the NCUA, the Share Insurance Fund insures individual accounts up to $250,000, and member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.

At the time of liquidation and subsequent purchase by Palisades Credit Union, NYSEFCU served 1,183 members and had assets of approximately $2 million, according to the Credit Union’s most recent Call Report. Chartered in 1935, NYSEFCU served New York State Employees in NYC’s five boroughs.

About Palisades Credit Union

Palisades Credit Union is a not-for-profit organization founded in 1941 with a vision of building valued relationships through a lifetime of financial solutions. It operates three branches and provides a suite of full service banking products and services. Membership to Palisades Credit Union is open to anyone who lives, works, studies, volunteers, or worships in Rockland County, New York or Bergen County, New Jersey.

Share: Share on Facebook: Palisades CU Assumes Loans, Assets, and Shares Share on Twitter: Palisades CU Assumes Loans, Assets, and Shares

New Terms for Home Loans if You Have Student Debt10/24/2017

For many millennials — over 80% in a recent survey — student debt has become a barrier to home ownership. Despite being in their prime years to buy their first home they expect to delay buying a home by seven years. Earlier this year however home lenders Fannie Mae and Freddie Mac changed some of the requirements to debt-to-income (DTI) ratios. Fannie Mae raised the DTI ceiling from 45% to 50%, which may open the door to home-ownership for many new buyers.

To understand these changes, you must know what DTI means. Essentially your debt-to-income ratio compares your gross monthly income to your monthly payment on all debt accounts which can include student loans, car payments, and credit card debt. When applying for a mortgage your DTI will also include projected payments on the mortgage you are seeking. If your DTI was over 43%, which is the safe maximum for the federal “qualified mortgage,” you may have to pay down some of your other debts to be approved, or you would have trouble getting a mortgage loan.

While these changes may make home ownership more available, getting loans through the big mortgage names like Fannie Mae and Freddie Mac can still have drawbacks. One of these drawbacks can be that their credit score requirements can be more restrictive, so those with a mid FICO score of 600 can still be denied. The interest rates can also be higher at Fannie Mae or Freddie Mac compared to home loans offered at credit unions.

If you have student debt or think you may not be a traditional candidate for a mortgage, a credit union may be your best option. Traditionally credit unions have been much more willing to work with their members to get them into a home. Since credit unions are non-profit organizations they can offer loans at lower fees and with lower mortgage rates. Credit unions also tend to hold their mortgages instead of selling them to third-party servicers. This allows for more flexibility in DTI ratios, credit scores, or even incomes that are harder to verify like contractors or those that are self-employed. All of this means that for people who are not candidates for traditional mortgages with traditional institutions working with a credit union like Palisades Credit Union can help them realize their dream of being a home owner.

If you have questions about the changes to mortgage requirements, the debt-to-income ratio, or just how a credit union can help you with the mortgage process contact us today! We can help you and answer any questions you may have to help you buy your dream home.

Find more tips and information by following Palisades Credit Union! Connect with us on FacebookTwitterInstagram orLinkedIn.

Share: Share on Facebook: New Terms for Home Loans if You Have Student Debt Share on Twitter: New Terms for Home Loans if You Have Student Debt

Dreams Thrive at Palisades CU10/17/2017

If you are like a majority of Americans banking and finances can be a confusing and even stressful topic. However, being financially literate is key to having a successful future and knowing you will be able to take care of you and your family’s needs.

One of the first steps in financial literacy is choosing a banking institution that will help you achieve your goals whether that be saving for a new home, buying a car, or retirement. A credit union like Palisades Credit Union, is different from a bank and can benefit you in a lot of ways.

With International Credit Union Day on October 19, we’d like to share with you how credit unions like Palisades CU, serve as catalysts to make different professions, personal choices and career paths real.

  1. Members Come First. Since credit unions are owned by the people they serve and each member has an account with the credit union, your financial security won’t be jeopardized to please stockholders. The board of directors at a credit union is elected by and from the credit union’s members and positions are voluntarily served. All of this means that any rules or changes made to credit union policy will benefit you, its member.
     
  2. Lower Fees. Most banks make money off fees like overdraft, ATM, and transfer fees. Credit unions can typically offer their members lower fess than banks since credit unions are not-for-profit financial cooperatives. Since they are not operating for profit the savings can be passed on to its members by lessening, or in some cases eliminating, certain fees, saving you money.
     
  3. Better Interest Rates. Since credit unions are not trying to make a profit they can once again pass the savings on to you, in the form of lower interest rates for things like home and auto loans, and higher savings rates. An auto loan at Palisades Credit Union can be as low as 2.49% APR*. Compare that to the 2017 national average for an auto loan at 4.21% APR*!

These are just some of the ways banking with a credit union can benefit you. Other benefits could include increased knowledge about banking since credit unions have a desire to educate their members or credit unions willing to work with you if you have poor credit or were otherwise unable to qualify for a loan. If you have any questions about how a credit union could benefit you and your family contact Palisades Credit Union today! We can answer any questions you may have, and have been serving Rockland County residents since 1941 and today have over $150 million in assets and 11,000 members.

*APR=Annual Percentage Rate.

Find more tips and information by following Palisades Credit Union! Connect with us on FacebookTwitterInstagram orLinkedIn.

Share: Share on Facebook: Dreams Thrive at Palisades CU Share on Twitter: Dreams Thrive at Palisades CU

Three Apps to Help Your Finances10/10/2017

Sticking to a budget is hard, but it is essential to plan for you and your family’s financial health and future. Thankfully there are dozens of mobile apps that can help you learn more about your spending habits and how to better take care of your finances available. Here’s a list of some of our favorite money apps available to smart phone users, so you can bank smart no matter where you are!

  1. Mint

Mint is one of the highest rated and most widely used money app for the tracking finances. Mint brings together your bank accounts, credit cards, bills and investments to one place for easy to find financial information. It also can show you where and how you spend money, ways you can save, and has bill pay. It is available in the App Store and Google Play.

  1. PocketGuard

PocketGuard connects to all your bank accounts so you can access everything in one place, including transactions and balance. It also tracks your spending so that you can see how much money you currently have and how much you’ve spent. Another great feature is that it will analyze your spending to see what reoccurring things you should plan for, and show charts where and how you spend your money so you can find places to cut back. PocketGuard is available on the App Store, Google Play and works with Apple Watch.

  1. Palisades FCU Mobile

The Palisades FCU mobile app is available to Palisades Credit Union members who have signed up for online banking (which you can do here), and puts Palisades CU right in your pocket so you can take control of your finances. In the app you have access to all your checking and savings accounts to check balances, you can deposit checks on the go, pay bills and transfer money from account to account. And with the latest update you can even apply for a credit card, personal or auto loan!

The Palisades FCU app is available on the App Store here, and is designed for iPad, iPhone and even has an Apple Watch App. If you’re an Android user you can get the Palisades FCU Mobile Banking App here. And if you do not have an Apple or Android product but have an internet enabled mobile device you can always bank online with Palisades FCU!

Find more tips and information by following Palisades Credit Union! Connect with us on FacebookTwitterInstagram orLinkedIn.

Share: Share on Facebook: Three Apps to Help Your Finances Share on Twitter: Three Apps to Help Your Finances

Identity Theft and How To Protect Yourself9/11/2017

With data breaches becoming more frequent, it is important to understand how to protect yourself. Identity theft occurs when someone uses your personal information, without your permission, and pretends to be you to commit fraud. It can be hard to notice that you were a victim of identity theft until you review your reports or statements and see charges you didn't make, or are contacted by a debt collector about a debt you don't recognize. 

The CFPB recommends a few ways to ensure your personal information is safe.

Signs of fraud or identity theft:

  • Incorrect personal information on your credit report
  • Credit inquiries from companies you've never contacted
  • Money is missing from your bank account

There are also some free or inexpensive options that provide additional protection from identity theft:

  • Security Freeze: A security freeze on your credit report generally prevents new credit and accounts from being opened in your name.
  • Fraud Alerts: If you suspect fraud on your account, notify the creditor that you see the fraud on immediately and they will take additional steps to verify your identity first before opening credit in your name.
  • Identity Monitoring Services: Scan personally identifiable information in credit applications, public records, websites, and other places for any unsual activity that could be signs of identity theft. Typically available for a cost. 
Share: Share on Facebook: Identity Theft and How To Protect Yourself Share on Twitter: Identity Theft and How To Protect Yourself

5 Ways To Save In College 9/11/2017

College is quite the expense and tuition is only one part of that. You also need to consider room and board, books, food, and more but don’t let that discourage you! There are plenty of ways to cut costs and save. Keep more money in your wallet by trying these five ways to save in college.

  1. Create A Budget

Creating a budget (and sticking to it!) can allow you to track expenses and see where you’re currently spending your money in order to identify areas you can improve on.

  1. Use Student Discounts

There are a number of businesses that offer student discounts. Students usually have access to discounted software and technology through their university. You can also save on insurance, cell phone plans, movie tickets, retail shops, restaurants, event tickets, and more.

  1. Student Housing

Housing is one of the largest expenses for people of all ages. Be sure to shop around and compare. Most student apartment complexes offer competitive rates and include paid utilities. They also tend to be on the school’s bus route. Look into student housing in your area.

  1. Rent, Don’t Buy Your Textbooks

Books are not cheap. You may spend upwards of $200 on a single book just to use it for one semester. Renting books can be a cost-effective option; use sites like Chegg, Bookrenter, and Amazon to check book availability and compare rental prices.

  1. Watch Out For Bank Fees

Small fees add up over time. According to one recent study, people spend $290 each year on average on bank fees. How can you save? Switch to a local credit union that offers free monthly checking accounts. Credit unions often offer better interest rates on loans and higher interest rates on savings accounts! Click here to learn more about the benefits of joining a credit union.

 

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: 5 Ways To Save In College Share on Twitter: 5 Ways To Save In College

Beat! Beep! 9/9/2017

Beat! Beep! Watch us beat your rate!

Beep! Beep! Is there a new car in your future? Finding the perfect vehicle can be a daunting task. Lots of questions come up about what style car are you looking for. What make of the car? What model? But the most common thought is: “how much money is this going to cost?”

It can be hard to make a clear-cut decision when a fast-talking car salesman has a hold of you. Palisades CU is here to help!   Whether it’s a new sports car or a reliable used car for family road trips, we have a wide range of loans and services to make this purchase stress free. Being able to have confidence when it comes to car buying can be achieved through us! You can get secure financing through us which can make going into a dealership to negotiate your price, a breeze!

Palisades CU is proud to offer super low auto loan rates. If you already have a loan on your existing vehicle, Beat Beep! Watch us beat your rate! Refinancing your auto loan may be able to save you a significant amount of money each month and may even lower your monthly payment.

Here is a simple example of how much you can save:

Auto Loan Savings Comparison

 

Why pay more in interest than you have to? A lower interest rate on your auto loan can save you a significant amount of money. Interested in seeing how much you can save when we beat your current auto loan rate? Refinancing with us costs no money to apply so get started today by applying online!

 

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Beat! Beep! Share on Twitter: Beat! Beep!

New ACH Rules9/6/2017

Beginning September 15, 2017, the National Automated Clearing House Association (NACHA) is implementing a Same Day ACH debit program, enabling the same-day processing of virtually any ACH payment. Only international transactions (IATs) and high-value transactions above $25,000 will be excluded from same-day processing. 

ACH items are electronically transmitted debit or credit items that utilize your Palisades Credit Union routing and account number in order to post.

Palisades Credit Union is required to receive same-day ACH payments from payment processing companies. Overdraft fees could be incurred if the funds are not available in your account when the ACH payment is initiated. The best way to prepare is to ensure all funds are available before authorizing or initiating an ACH payment. 

Currently ACH payments take a few business days to process on an account. Please be prepared as Same Day ACH may cause bill payments to debit from accounts much faster. Please contact the merchant or company that the payment is being made through to inquire about their participation in Same Day ACH processing.

For example, you authorize the cable company to withdraw $100.00 for your monthly bill on a Thursday morning, but your account currently isn't actually debited until early Friday morning. With same-day ACH processing, your payment may be debited the same day as your authorization. 

To stay on top of your account we offer 24/7 Online Banking. We also offer our companion Mobile App to access your account on the go: Anytime, Anywhere. For more information please visit, palisadesfcu.org/OnlineBanking.

Frequently Asked Questions

Share: Share on Facebook: New ACH Rules Share on Twitter: New ACH Rules

Wrap Up Summer With Rewards8/28/2017

Wrap Up Summer With Rewards

If you’re looking for a credit card with great benefits, check out our Platinum Rewards MasterCard! Enjoy flexible reward options, security controls, and low rates and fees! Our Platinum Rewards MasterCard has many features that will make you want to pull this card from your wallet first including:

  • No Annual Fee
  • Zero Fraud Liability
  • Price Protection
  • 24/7 Fraud Protection Services
  • Extended Warranty Coverage
  • Mastercard ID Theft Protection
  • Mastercard Global Service
  • Baggage Delay Insurance
  • Trip Cancellation / Trip Interruption
  • Auto Rental Collision
  • Travel Accident Insurance

The Palisades Credit Union Platinum Rewards MasterCard credit card is for anyone who likes paying less but getting more! That’s because our Platinum Rewards MasterCard offers more benefits and more rewards! Almost every card swipe and online purchase earns reward points you can redeem for something special. Points add up fast and can be redeemed for a variety of items such as travel, merchandise, gift cards and cash back on your statements.

Life Just Got More Rewarding

Spend $3,000 on qualifying purchases in the first 90 days and earn an extra 30,000 bonus reward points! Ready to get started? Apply online for your new Palisades Credit Union Platinum Rewards MasterCard today or stop by a local branch for more information.

Connect with Palisades Credit Union! Follow us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Wrap Up Summer With Rewards Share on Twitter: Wrap Up Summer With Rewards

Beware: Charging Your Phone In Public May Not Be Safe!8/16/2017

Beware: Charging Your Phone In Public May Not Be Safe!

If you’re like most people, you use your smart phone for everything, everyday! Even if it’s just there in case of emergencies having a charged cellphone can provide a serious sense of security. That’s why when the battery meter starts to tick down, a cold sense of panic rises in your stomach.

Many public places have begun to adapt to this change, and provide USB ports in addition to electrical outlets. Sadly, this wonderful public good has become a playground for thieves. Scammers have hooked tiny computers into some of those ports. When you plug your phone in, they can install malicious programs on your phone. These programs report back personally identifiable information that thieves use to commit identity theft. Alternately, thieves can use the connection to your phone to look through your phone’s contents, stealing browser history data — including passwords. It’s called “Juice Jacking,” and it can take as little as three minutes for them to break your phone wide open.

It’s a phenomenon so new, even security experts are getting suckered. At a recent digital security conference, one security firm ran an experiment by offering public charging cables that anyone could use. Surprisingly, 80% of security experts at the conference used these cables without once inquiring about security!

Obviously, these scammers aren’t everywhere. They choose places where they can do the most damage — airports, coffee shops, shopping malls and other places where people hang out. If you’re at a place you trust, feel free to use the power. However, if you’re in a public place, watch out! Use these tips to stay safe and avoid Juice Jackers.

1. Carry (or borrow) a power plug

The easiest way to thwart the scam is to only plug your phone into electrical outlets. There’s no computer on the other side. Yes, it’s a hassle to carry one more thing, but it’s worth it to avoid compromising your personal information. Shop around to find a compact converter and keep it in your bag. If a power plug is a real hassle, only carry it when your phone is low on juice. In a pinch, you can also borrow a plug from a laptop user.

2. Pick up a battery

Consider carrying your power solutions with you. Advancements in battery technology have made them smaller and more efficient than ever. A battery pack the size of a pen can completely charge your smartphone. Slightly larger packs can provide several days’ worth of charge.

You can also keep a battery pack in your glove compartment. That way, you get the security of knowing you’ve got a charge when you need one without having to lug it around.

3. Conserve Power

The easiest way to avoid using a public charging station is not to need one in the first place. There are several things you can do to save your phone’s charge if it’s running low, like changing your wallpaper to all black. For slightly more savings, keep your apps updated. Running outdated software could be chewing up your battery life. Similarly, don’t enable auto-update. This can quickly drain data while also burning through battery life. Update apps manually when you’re connected to WiFi, or just disable automatic updates if your battery situation is dicey.

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Beware: Charging Your Phone In Public May Not Be Safe! Share on Twitter: Beware: Charging Your Phone In Public May Not Be Safe!

Feeling Stuck In Your Auto Loan?8/11/2017

Feeling Stuck In Your Auto Loan? Refinance With Palisades CU!

With all the attention paid to refinancing home mortgages, refinancing your auto loan to a better rate may not have even crossed your mind! Just like with a home mortgage, refinancing your auto loan can lead to a lower monthly payment, a shorter term, or both! While the amount of money you can save depends on a variety of factors like how much you owe on your current loan and your credit score, it does not hurt to review your options.

Not sure if refinancing is right for you? Here are a few scenarios where refinancing makes sense.

  1. Your Credit Score Improves
    One of the biggest factors in determining your auto loan status is your credit score. When your lender is building a loan package, a credit report is pulled as a central part of that process. That number helps define your interest rate.

    It’s worth keeping a copy of the credit report your lender pulled. That can let you see if your credit score has improved. It can take as little as nine months of steady repayment to boost your credit score, and that could result in a cheaper loan if you refinance.

    If you didn’t have much experience with credit when you purchased your vehicle, refinancing can do you a world of good. Interest rates as high as 18% are common for borrowers who have little to no credit history. Having even a few months of solid payments on your side can cut that rate in half or more.
     
  2. You Didn’t Shop Around Before You Borrowed
    Many people feel railroaded throughout the car-buying process. They pick a car they like, then they are told what the price is, what the monthly payment is and everything else. It may seem like the choice of lenders for your car loan is predetermined.

    Dealers tend to have a smaller range of lenders with whom they work exclusively. Those lenders know they have limited exposure to competition, so they can charge slightly higher fees and interest rates. By doing your own comparison shopping, you can save quite a bit on both the loan and any ancillary insurances or warranties you may have purchased. Dealer rates tend to be 1 to 1.5% higher than those offered at smaller lenders, like credit unions.
  3. You Need To Change Your Monthly Payment
    You may be in a much better financial situation now than when you bought your car. You may have a better job or more security. You may have paid off credit card or other debt. All of these things free up how much you can pay per month.

    Most people don’t go into the refinancing process looking to increase their monthly payment, but you can save yourself money in the long term by committing to a faster repayment plan. If you can afford to pay more per month now, you can pay off the balance on your car faster. Shorter term loans usually also have lower interest rates, since the lender assumes less risk in making the loan. Once the car is paid off, you’ll have all that money to devote to other saving or spending priorities.

Ready to see how much you can save by refinancing your auto loan with Palisades Credit Union? Click here to get started!

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Feeling Stuck In Your Auto Loan? Share on Twitter: Feeling Stuck In Your Auto Loan?

How to Pay for College7/31/2017

How To Pay For College When Financial Aid Isn’t Enough

While many types of federal student loans exist, freshman college students and their families often find that even the maximum loan amounts are not enough to pay for their education. For example, the average cost of attendance at a four-year public school for the 2015-2016 academic year was $19,548 and at a four-year private school, it’s $43,921— yet the most money first-year college students can borrow under the subsidized Federal Stafford Loan program is only $5,500!

What can college students do when financial aid isn’t enough to cover tuition and supplies? Consider a private student loan through a local credit union.

What’s The Difference Between Federal And Private Loans?

In the education world, colleges often refer to loans made directly by banks or credit unions as “private” or “alternative” loans in order to distinguish them from federal loans. Private loans can be used alone or to supplement federal loans.

Federal Loans

• Financial aid forms required
• Loan limits determined by grade level
• Schools must authorize the loan amount
• Funds are sent to the school
• Satisfactory Academic Progress required to receive additional loans
• Standard 10-year repayment term
• Restrictions on how loan may be used

Private Loans

• Financial aid forms not required
• Higher loan limits
• Faster application process
• Funds may be sent to borrower
• Longer repayment terms
• Repayment options
• Less restrictions on how loan may be used (as for a computer for college or transportation)

Applying For A Private Loan

Unlike most federal student loan options, you can apply for a private student loan at any time. At Palisades CU, we offer competitive student loan rates with many benefits including:

  • Competitive interest rates
  • Credit & Academic based underwriting
  • Cosigner Release
  • .25% interest rate reduction when you sign up for automatic payments
  • No origination fee for all student borrowers

Not only can we help finance upcoming education expenses, we can also help consolidate existing student loans. Contact us today to learn more or apply online now for quick approval!

Find more student loan and college planning tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: How to Pay for College Share on Twitter: How to Pay for College

How Do Home Appraisals Affect Your Mortgage Loan?7/24/2017

How Do Home Appraisals Affect Your Mortgage Loan?

Financing your new home is a process with numerous steps and the home appraisal process is one that can be particularly confusing to first time home buyers. Here are some answers that you need to get you through one of the final—and most important—steps of the home buying process.

What Is a Home Appraisal?

A home appraisal is an unbiased report on the worth of a house in the fair market, performed by a trained and licensed individual. Home appraisals are done before closing so the homebuyer, the home seller and the mortgage lender receive the accurate and true value of the real estate in question. In most residential property transactions, you are able to choose your real estate agent and your lender, but you cannot choose your appraiser. Instead the appraiser must be chosen by your lender to provide a level of independence from the buyer and seller.

Can An Appraisal Affect Your Mortgage Loan?

Yes! When buying a home, your appraisal can play a role in determining if your lender will approve your loan. All lenders order an appraisal during the mortgage process to assess the home’s market value and make sure the borrower is not attempting to borrow more money than the house is worth. If your appraisal comes in below the purchase price of your home, you may need to pay the difference in cash, lower the purchase price, or get a second opinion.

What Do Appraisers Look For When Valuing A Home?

The goal of an appraisal is to determine the fair market value of a home, so anything that may raise or lower the price someone is willing to pay will be considered and factored into the report. Most often, an appraiser will look at the size and type of the home and property, the condition the home and property and the overall real estate market in the area. Any major flaws to the property, like a leaking roof or cracked foundation will also be noted.

What Does a Home Appraisal Cost and Who Pays For It?

While your lender will typically arrange for an appraisal, the buyer is ultimately responsible for the cost. Generally, appraisal fees range between $450 and $600, depending on the size and location of your property but don’t let this cost stop you from making offers! The home appraisal will only occur after your offer has been accepted by the seller and you have begun to work with a lender to finance your new home. You do not need to complete appraisals on every house you choose to bid on.

How Can You Save on the Appraisal Process?

Planning to purchase a new home? Now is the perfect time to apply for a Mortgage at Palisades CU. Complete an application from June 1, 2017 through July 31, 2017 to receive a free appraisal valued up to $600 when you purchase a home with us. Schedule an appointment today to speak with a Mortgage Loan Originator or simply apply online! For more details on the free appraisal offer click here.

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: How Do Home Appraisals Affect Your Mortgage Loan? Share on Twitter: How Do Home Appraisals Affect Your Mortgage Loan?

Ditch Your Bank, Join a Credit Union!7/19/2017

Ditch Your Bank, Join a Credit Union!

Tired of paying bank fees on everything from ATM withdrawals to monthly account maintenance? Want to be earning a better interest rate on your savings account? It might be time to consider switching to a credit union.

Why a Credit Union?

Whether it’s high fees, poor customer service, or long lines, people are fed up with banks! Since credit unions offer the same options as banks – checking accounts, home and auto loans, and even credit cards – they may seem very similar or even identical. However, the main difference between banks and credit unions is ownership. Banks are for-profit, usually public, and full of board members and shareholders. Credit unions are nonprofit, usually small and local, and run by member-owners who are usually unpaid and elected by vote.

While ownership and shareholders may not be on the top of your list of reasons to switch to a credit union, it matters! The operational costs that are saved by running a financial institution with a volunteer Board and no stockholders is passed back to the members of the credit union by providing better yields on savings accounts, competitive rates on loans, and fewer and lower fees charged to its members.

Making the Switch:

But before you go out and transfer your money to a credit union, check out these tips from the Credit Union National Association:

  • Compare credit union rates and fees to those of banks. The Credit Union National Association estimates that consumers annually save more than $6 billion in better rates and lower fees by using credit unions rather than banks.
  • Ask about free checking and debit. About 80 percent of credit unions still offer free checking, and more than 70 percent have debit card programs, typically with no fees, according to the Credit Union National Association.
  • Check if the credit union has all the products you are looking for. These days many credit unions offer most of the same services and products you'd find at a bank -- mortgages, credit cards, IRAs, home equity lines, even small business loans.
  • Consider the convenience factor. Credit unions have fewer branches, but today thousands of credit unions share their branch facilities, so that members of one credit union can use the shared branch networks of other credit unions. And today many credit unions are part of nationwide ATM networks.

About Palisades CU

At Palisades CU, we don’t have customers, we have members. That means we’re all in this together, and when one member does well, we all share the benefits. If you are interested in making the switch to a credit union, we encourage you to learn more about us and what we have to offer to Rockland County, New York and Bergen County, New Jersey residents!

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Ditch Your Bank, Join a Credit Union! Share on Twitter: Ditch Your Bank, Join a Credit Union!

Missed the FAFSA deadline?7/17/2017

Missed the FASFA Deadline? You Still Have Options!

Paying for college can be overwhelming and if you are looking for financial aid to help pay for school, staying on top of all those deadlines can be even more so. Besides keeping track of college application deadlines, scholarship deadlines, and financial aid deadlines, you also need to keep track of the special requirements for each one. It can be difficult to keep it all straight when you have so much going on.

For most students, starting the financial aid process begins with completing the Free Application for Federal Student Aid (FAFSA) online. FAFSA is a nationally used tool that helps determine what your family will be expected to contribute toward your education and how much you may be eligible to receive in loans.

It is imperative that you meet FAFSA and school deadlines for the best outcome. If your FAFSA is late, it could reduce or eliminate the amount of money you are eligible to receive from your school or federal loans. If this happens, you’ll have to investigate an alternative to Federal student loans. If you have not filled out the FAFSA by the deadline, don’t worry! You still have options. Read on to learn more.

Apply For a Private Loan

The deadline for federal financial aid is different from that of private loan applications. If you’ve missed the FAFSA deadline, you can apply for financial aid from a private institution, like a credit union. At Palisades CU, we offer competitive student loan rates with many benefits including:

  • Competitive interest rates
  • Credit & Academic based underwriting
  • 1% interest rate reduction based on payment history
  • Cosigner Release
  • .25% interest rate reduction when you sign up for automatic payments
  • No origination fee for all student borrowers

Not only can we help finance upcoming education expenses, we can also help consolidate existing student loans. Contact us today to learn more or apply online now for quick approval!

Apply For Year-Round Scholarships

There is a common misconception that scholarships are not available year-round but that’s not the case! You should always be on the lookout for scholarship opportunities, and note that deadlines run throughout the calendar year. Free online sites like College Raptor can help you find cost estimates, acceptance odds, and potential financial aid for schools around the US all year long.

Apply Again Next Year

If you missed the FASFA deadline this year, the worst-case scenario is you have to wait and apply again next year. Make sure you bookmark the date so you do not make the same mistake again next year. When the following January rolls around, take the stress off next year’s finances and make sure to beat the due date by getting in your application early.

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Missed the FAFSA deadline? Share on Twitter: Missed the FAFSA deadline?

Student Loan Myths Busted!6/21/2017

Student Loan Myths Busted!

A recent LendEDU survey of more than 500 college students showed some troubling misconceptions about how student loans work — from the length of repayment plans to what happens if you cannot pay. With so much information and advice about student loans it's easy to be misinformed. Watch out for these five student loan myths.

MYTH #1 – Before applying for any type of a student loan, the applicant must have an established credit history.

TRUTH – Student loans do not require credit checks. Students have not had the opportunity to create a credit history before graduating from high school. Lenders adjust interest rates and repayment terms for these instances.

MYTH #2 – Student loans are designated for the payment of tuition exclusively. All other expenses, such as textbooks, computers, supplies, fees and living expenses must be paid for through other means.

TRUTH – Students are responsible for using the student loan money appropriately to cover the costs associated with attending an institution of higher learning. Limitations placed on how the money can be spent will be detailed in the student loan documentation.

MYTH #3 – Student loans will cause future credit problems for the graduate.

TRUTH – Prompt repayment of the student loans can create a positive credit history that demonstrates responsible handling of credit. Lenders scrutinize future borrowers through the history of on-time payments. Repaid student loans remain on the credit history for many years as an indication of the graduate’s ability to manage credit.

MYTH –The student must have sufficient personal property to serve as collateral for the student loan.

TRUTH – Student loan terms are written without collateral since the future employment is considered the means with which the loan will be repaid. In the federal student loan program, all students pay the same interest rate.

MYTH – Student loan default – The parents, or spouse, of the student will be given responsibility if the student defaults on the student loan payments.

TRUTH – The individual who signed the loan papers is responsible for repaying the student loan balance in its entirety. Certain hardship programs are available if catastrophic events prevent the graduate from repaying the loan. To make the loan payments more affordable, the graduate might want to consider a student loan consolidation program.

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn

Share: Share on Facebook: Student Loan Myths Busted! Share on Twitter: Student Loan Myths Busted!

Applying for a Home Loan?6/16/2017

Applying for a Home Loan? Don’t Do These Things!

Buying a home is a long process – sometimes taking months. When you decide you’re ready to buy a home, you’ll (hopefully) examine your own finances closer than you ever have before – because your mortgage underwriter will be looking at your finances even more closely. It’s the underwriter’s job to evaluate your income, credit score and assets to make sure you’re a solid loan candidate. Once you complete the application and begin the mortgage process it’s important to keep your finances as similar as possible until closing. While you’re waiting to close, avoid doing these things to limit any bumps in the road.

  • Don’t change employers, quit your job, or become self-employed when you are applying for a home loan.
  • Don’t take on additional long-term debt, such as buying a car or furniture for your new home. Additional financing will increase your debt-to-income ratio.
  • Don’t increase your use of credit cards or fall behind on any payments.
  • Don’t change financial institutions. You want to show stable banking history.
  • Don’t spend down your savings or investment accounts.
  • Don’t make large deposits into your accounts. Money for your down payment should be in your account for at least two months.
  • Don’t neglect any debts or liabilities or misrepresent your income on your loan application.
  • Don’t apply for new credit or open new lines of credit, including new credit cards.
  • Don’t co-sign a loan for anyone during this time.

In general, don’t do anything that will have a significant impact on your finances. While some things in life can’t be changed, like illness, job loss and natural disasters, your personal finance habits can be monitored and can hurt your chances for mortgage approval if not handled correctly. When you’re going through the mortgage process, it’s important to keep your finances steady and similar to what you’ve included on your application. Any changes – good or bad – can extend the mortgage timeline and possibly keep you from getting your dream home. If you anticipate any big, unavoidable changes during the underwriting process always make sure to talk them over with your Palisades CU Home Loan Expert.

Feel At Home With A Home Loan From Palisades CU!

At Palisades Credit Union, we strive to help our Rockland County members finance the home of their dreams. We understand that finding the right home and mortgage sets a solid foundation for successful homeownership. Whether it’s your first home or a refinance, our representatives will walk you through all the steps.

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn

Share: Share on Facebook: Applying for a Home Loan? Share on Twitter: Applying for a Home Loan?

Guide To Buying A Car6/5/2017

If you’re buying your first vehicle, the process may seem overwhelming. Maybe you know what you want, but you’re not sure it will fit in your budget. And how do you know you’re getting the best deal? This guide is designed to help you successfully maneuver down the road to your new vehicle and avoid any potholes that could derail the process.

Decisions

When buying a car, you have a lot of decisions to make. You need to carefully weigh your needs and wants with how much you can afford. While you may think you need a convertible, your actual needs (and budget) may suggest otherwise.

Ask yourself the questions below to get a better idea of what kind of vehicle you need. Even if you already have a make or model in mind, go through the questions and answer honestly. You want to make sure the vehicle you end up with is the one that best fits your needs.

Budget

After you have determined what kind of vehicle best fits your needs, you then need to know how much vehicle you can afford.

Total Cost of Ownership

What you can afford each month isn’t just the monthly payment – you need to consider the entire cost of ownership.

The cost of ownership includes:

  • Monthly payment
  • Insurance
  • Registration fee, license, taxes
  • Gas/fuel
  • Tires
  • Maintenance and repairs
  • Parking and tolls

The total cost of ownership will be different depending on the type of vehicle you get. A new car may not have as many repairs but the monthly payment may be higher. Kelly Blue Book has a Five-Year Total Cost of Ownership calculator to help you compare costs between vehicles.

 

Monthly Budget

To determine how much you can afford, you need to review your monthly budget. Use the Guide to Building a Budget to get started.

Here a few additional questions to consider:

How much of a car payment can you afford? This isn’t necessarily how much of a loan can you get approved for – it’s how much can you afford each month with your budget. Just because you’re approved for a $50,000 auto loan doesn’t mean you can afford the monthly payment.

Beyond the monthly payment, how much can you afford to pay for insurance, gas, maintenance, etc. each month? Your monthly insurance premium is going to depend on a variety of factors including your zip code, credit history, type of car, year of car, miles driven and more. Gas costs will depend on how much you drive and what kind of vehicle you get. Maintenance and other costs will depend on whether your car is new or used, your driving style, weather and more.

Do you have money saved for a down payment? A down payment or even a trade-in can reduce the amount you need to borrow and potentially your monthly payment.

How quickly do you want to pay off the loan? A longer loan term may mean a lower monthly payment, but that also means more interest paid.

Financing

Figuring out your budget and financing go hand in hand. If you’ve decided to purchase your vehicle and don’t have cash for the entire purchase price, you’re going to need a loan. Getting pre-approved before you begin shopping will help you narrow down your options and give you more power when negotiating.

Applying for a Loan

When you apply for an auto loan, the lender is going to use the information you provide in addition to the information from your credit report to evaluate how much you can afford and the likelihood of you paying back your loan. Factors lenders take into consideration:

  • Monthly income and expenses
  • Length at current address
  • Length at current employer
  • Car information/value
  • Down payment and amount financing
  • Credit score and credit report

Lenders use all of this information to determine if you’re approved and the terms of the loan.

Terms of the Loan

When you receive your loan approval, you’ll receive the terms of the loan. These include the payment amount, length of the loan, and interest rate.

In general: if you want a lower payment, it will likely take you longer to pay off the loan and you’ll pay more in total interest. If you have a higher payment, you will likely pay off your loan faster and pay less in total interest.

http://aplusfcu.org/files/images/TermsOfTheLoan.png

Additional Items

In addition to financing, you may want to consider adding additional protection to your vehicle.

  • Mechanical Breakdown Protection (MBP) may also be called an extended warranty, this protects your vehicle beyond the manufacturer’s factory warranty.
  • Guaranteed Asset Protection (GAP) pays the unpaid balance of your loan if your vehicle is stolen or damaged beyond repair

Both MBP and GAP can be added to your monthly payment.

Research

Once you know how much car you can afford, it’s time to begin your research. With the internet, there’s no shortage of search engines to help you find the car for you. Keep your list of needs and wants in mind as you begin researching vehicles.

If you’re also searching private sellers, always be careful. Take someone with you to test drive, don’t give any private and confidential information to the seller and schedule to meet in a public location.

Once you’ve found a couple vehicles, call up the dealership/seller to schedule a time to come by to look at the vehicle and take a test drive.

Test drive

The test drive is an important step in the car buying process. A vehicle may have all the features you need, but it may not drive how you would like. Ideally, your test drive should be as close as possible to how and where you plan to drive on a regular basis. For example, if you have a lot of traffic on your commute, try driving with frequent stops and slow speeds.

If you’re buying a used vehicle, the Used Vehicle Checklist will give you an idea of what to look for before and during the test drive.

Negotiate

Once you’ve narrowed down your choices, it’s time to see if the dealer/seller is willing to negotiate price. Some dealerships have moved away from this practice and have a “this is lowest price we will offer” policy. Others expect you to negotiate price and their sticker prices are reflective of that.

Whenever you are negotiating, make sure you have done your research.

  • Know the car’s worth. Look up prices of the specific make and model so you know when a price is good or too high.
  • Know the value of add-ons. This will give you an idea of what each feature will add to the total cost. A sunroof may sound nice, but is it worth an extra $1,000?
  • Know what else is out there. You’re not limited to one dealership. When you do your research, look for options on dealership, make/model, features, etc. This means being flexible on the type of vehicle or the different features. If you fall in love with a particular vehicle, your negotiation skills may suffer as you won’t want to lose the vehicle.
  • Know your limits. How much are you willing to pay? Even if you have a pre-approval, you may not feel comfortable spending the maximum. Set your max and stick with it.
  • Know you can walk away. If you make an offer and the dealer counters with something you’re not comfortable with and won’t budge, don’t be afraid to walk away. Again, you have options.

After the purchase

After you’ve signed the paper, don’t forget to get these other items in order:

Registration

If you purchased from a dealer, they should get you set up with your temporary registration, but you’re responsible if you purchased from a private seller. You can look at the New York DMV website to find out what’s required.

Insurance

You may be required to get your insurance set up before you get your registration, so it’s important to update your insurance for your new vehicle as soon as possible. Make sure you know your VIN, make, model, etc. so you’re ready to go when you get to this step.

Find more car buying tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Guide To Buying A Car Share on Twitter: Guide To Buying A Car

Community Expansion6/1/2017

Palisades Credit Union announced today it has received approval of its community charter expansion by the National Credit Union Association (NCUA). With this approval, Palisades Credit Union will expand its membership to serve “persons who live, work, study, volunteer, or worship Rockland County, New York and Bergen County, New Jersey”. This field of membership expansion was approved effective June 1, 2017.

Founded in 1941 as Lederle Federal Credit Union (LEFCU) by a small group of employees of the American Cyanamid Company, the Credit Union has been dedicated to building a financial institution that would provide outstanding financial services at the lowest possible cost. Palisades Credit Union became the first community chartered credit union in Rockland County to serve all person who live, work, study, volunteer or worship in 2002.

The Credit Union will go from serving Rockland County, New York a community of over 300,000 to include Bergen County, New Jersey, bringing the community served to over 1.2 million.

“This is a very exciting time for Palisades Credit Union as we expand our membership to provide financial services to our neighbors in Bergen County, New Jersey. We have already saved Rockland County Residents over 2 million in loan interest and hope to do the same for our Bergen County members.” Tony Molina, CEO

About Palisades Credit Union

Palisades Credit Union is a not-for-profit organization founded in 1941 with a vision of building valued relationships through a lifetime of financial solutions. It operates three branches and provides a suite of full service banking products and services. Membership to Palisades Credit Union is open to anyone who lives, works, studies, volunteers, or worships in Rockland County, New York or Bergen County, New Jersey.

Share: Share on Facebook: Community Expansion Share on Twitter: Community Expansion

2017 Scholarship Winners5/26/2017

Palisades Credit Union Awards Scholarships to Members

PEARL RIVER, NY – Palisades Credit Union has awarded three thousand dollars ($3,000.00) in college scholarships to five (5) high school seniors to help finance their college education.

The students, members of Palisades Credit Union were chosen based on their outstanding academic and extracurricular achievements.

The high school seniors who received the awards were:

Caitlin Holt – attending Harvard College

Steven Lanoce – attending Clemson University

Brianne Lee – attending Pace University

David Walters – attending Binghamton University

Hannah Welshoff – attending Ithaca College

Palisades Credit Union has also awarded a Westchester Rockland Chapter of the New York Credit Union Association college scholarship of five hundred dollars ($500.00) to one (1) high school senior.

Caitlin Holt, attending Harvard College in the fall, was the selected recipient for the Chapter award.

Credit unions are not-for-profit cooperatives with no outside stockholders, so earnings are returned to members in the form of dividends on savings, favorable loan rates, fewer fees and additional services. All member accounts are insured through the Federal government up to $250,000. 

About Palisades Credit Union

Palisades Credit Union is a not-for-profit organization founded in 1941 with a vision of building valued relationships through a lifetime of financial solutions. As the largest Rockland County based Credit Union, it operates three branches and provides a suite of full service banking products and services. Membership to Palisades Credit Union is open to anyone who lives, works, studies, volunteers, or worships in Rockland County, New York.

Share: Share on Facebook: 2017 Scholarship Winners Share on Twitter: 2017 Scholarship Winners

Buying A Second Home? Here Are Some Things To Consider5/22/2017

Thinking about buying a second home? Even in today’s housing market, a second home can be a great long term investment, or a way to earn extra income on the side by renting! However, there are some things to consider when buying a second home.

When shopping around for that second home, it is important to think about location, the current housing market, your personal finances and how you plan on financing your second home. Before you apply for a loan to purchase a second home, take a look at these things to consider.

  1. Know How Much You Can Afford

Buying a second home isn’t that much different than buying your first home. Mortgage lenders calculate affordability based on your personal information, including income, expenses and size of down payment. A standard rule for lenders is that your monthly housing payment (principal, interest, taxes and insurance) should not take up more than 28 percent of your income before taxes.

  1. Start Saving Now

If you are planning to purchase a second home, it’s a good idea to start saving money now! Many lenders require home buyers to have at least two months of mortgage payments in the bank, but how much is required may depend on your credit score.

  1. Know Your Score

Just like when you bought your primary home, your credit score affects what rate you can get for your second-home mortgage. The higher your credit score, the more attractive the rate and the more you save over the life of your loan. The lower your credit score, the more cash the bank will expect you to have in reserve.

At Palisades Credit Union, we strive to help our members finance the home of their dreams. We understand that finding the right home and mortgage sets a solid foundation for successful homeownership. Whether it’s your first home or your second we are here to help! Contact us today to learn more or apply online.

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Buying A Second Home? Here Are Some Things To Consider Share on Twitter: Buying A Second Home? Here Are Some Things To Consider

Why Do Banks Charge Fees?5/3/2017

Have you ever been hit with a “minimum balance” fee by your bank only to wonder why you have to pay to access your own money? Read on to find out why banks charge fees and what your options are!

Nobody likes paying fees. In fact, most people will do anything to avoid them. Yet, consumers paid over $6.4 billion in ATM and overdraft fees in 2016 alone!

Banks charge a variety of different fees, some of which include ATM fees, overdraft fees, and minimum balance fees. Many big banks will charge you ATM fees if you use an ATM that is not associated with the bank you use. Overdraft fees can be the bane of those who have set up auto-pay on their bills, and are unaware of how much money they have going out. Americans across the country feel the sting of minimum balance fees.

One study shows that nearly 7 out of 10 Americans have less than $1000 dollars in their savings account. For those that live paycheck to paycheck, those minimum balance fees add up.

There is one simple reason banks charge their customers a litany of fees: banks are a business, and all businesses need to make money. When you’re constantly being charged by hidden fees to use your own money, the business of living gets even more expensive!

All of those fees add up, which makes paying bills or adding a little extra to your savings even more difficult.

So, banks are charging you for your money. What other options do you have?

Since banks function as large corporate businesses, they have to maintain their overhead and turn a profit. Credit Unions have lower expenses and are not-for-profit. Because of this, credit unions tend to be more member-friendly.

This means credit unions like Palisades have less fees, lower rates on loans, and are generally geared more towards their members as opposed to profits. This allows us to pass on savings to our members. For instance, many credit unions offer free checking accounts with no minimum balance fees.

When you take a look at the numbers, the benefits of being a member at a credit union become even more apparent. According to the National Credit Union Association, as of June 27, 2014, the average interest rate on a 48-month new car loan was 2.64 percent at the credit union, compared with 4.78 percent at major banks.

Did we convince you? If you’re interested in making the switch to a credit union, Palisades Credit Union is here for you! Our free checking account options have tons of perks that can help you save money and you won’t have to worry about being charged for ATM fees!

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Why Do Banks Charge Fees? Share on Twitter: Why Do Banks Charge Fees?

Millennials: Use These 5 Tips To Build Credit5/2/2017

Millennials may say they don’t want credit or that they have no worries about credit, but in reality, everyone needs to be actively concerned with their credit and credit score.

According to a recent study, nearly 40% of millennials have credit scores of 620 or less – which is considered poor or bad credit. A low credit score is often a signal to lenders that someone may not adhere to a loan’s terms , or they are failing to make their minimum payments on time. This can cause problems when applying for a car, apartment or mortgage. Fortunately, building credit and credit worthiness isn’t as hard as it may seem! Take a look at these 5 tips to get started.

  1. Establish A Credit History

A credit history is a record of all of your credit accounts,  lenders use this information to learn about you and how you use money. For example, the number of credit cards or loans you have and payment records are listed in your credit history.

While many millennials may not be concerned with their credit history right now, it can impact larger purchases down the road. Since most lenders want to see a long track record of financial responsibility the earlier you begin building your credit history the better.

  1. Pay Bills On Time

Payment history, namely the consistency of making payments on debts, comprises 35% of how your credit score is determined. Payments on everyday bills, like  utilities and credit cards, are reported to credit bureaus. You can really make this system work to your advantage by paying your bills consistently on-time. Automate bill payments if you can’t remember or aren’t punctual.

  1. Use Credit Cards (Wisely!)

Applying for a credit card is one of the easiest ways to begin building credit and credit history – but make sure you use them wisely!

One way to use your credit card to build credit is to charge everyday purchases like gas and groceries and then make regular monthly payments. This will help create a positive credit history and build your credit score over time.

However, paying your credit card off each month may seem ideal (after all who wants to pay extra in interest) but if you are just beginning to build credit you may want to consider “carrying” a small balance each month so lenders can see you are using credit in a responsible manner.

  1. Know Your Score!

Just like you wouldn’t go shopping for a new car without knowing how much you can afford, you shouldn’t go applying for credit cards or loans without knowing what your credit score is. Knowing your score can also help you identify which areas you can work on improving – like your credit history, debt utilization ratio and more. Checking your credit report at least once a year can also help you identify errors in your report (credit companies make mistakes too!) and allow you to resolve them.

Federal law allows you to get a copy of your credit report every 12 months. Learn more and request your free copy by visiting AnnualCreditReport.com.

  1. Put Your Student Loans To Work

When it comes to student loans, it seems millennials are adopting an “out of sight, out of mind” attitude. According to one study, 37% of college grads are unaware of the interest rate on their student loans and 15% were unaware of how much they even owed. Because creditors and lenders view student loan debt just like any other debt, you want to make sure you are not skipping payments or paying late to avoid it negatively affecting your credit score.

If you are stuck with student loans and are not in the financial position to get a credit card or loan, then consider consolidating all your student loans into one loan. Often times, this can help lower your interest rate and give you more flexibility in payment options.

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Millennials: Use These 5 Tips To Build Credit Share on Twitter: Millennials: Use These 5 Tips To Build Credit

Student Loan Consolidation vs Refinancing4/21/2017

Student Loan Consolidation vs. Refinancing

Learn the difference between student loan consolidation and student loan refinancing to find out which option is best for you.

Let’s face it: college is expensive. According to one recent survey, 7 out of 10 college graduates from public and non-profit colleges had an average of $30,100 in student loans. As if student loan debt wasn’t stressful enough, many college graduates also have multiple student loan payments to multiple servicers at a variety of interest rates.  If you find yourself in this situation, don’t worry, we can help! Not only can we help Rockland County residents finance upcoming education expenses, we can also help consolidate existing student loans.

What Is Student Loan Consolidation?

Consolidating your existing student loans allows you to combine multiple education loans into one loan which results in a single monthly payment instead of multiple payments. In addition, consolidating your student loans means you will pay one interest rate which is a weighted average of the prior loans.

Benefits Of Student Loan Consolidation

Typical student loan repayment terms range from 5 to 20 years. By extending the repayment term, you can significantly reduce the amount of money you’re required to pay each month. If you are on a tight budget, this can give you some extra breathing room. Another benefit of student loan consolidation is the ability to remove a co-signer from the loan. 

Beware Of Student Loan Consolidation Scams

College graduates burdened by student loan debt beware: don’t be fooled by student debt relief scams. Common signs include charging you an upfront fee to begin the student loan consolidation process, offering you a service with high fees attached to it, or being told that a service can offer full debt relief. 

Before you begin the student loan consolidation process, make sure you are choosing a reputable company to assist you or choose a credit union like Palisades CU. Why? Credit unions are not-for-profit financial institutions, which means you will likely receive a better interest rate when compared to banks.

Have questions or need additional information before you get started? We’re here to help! Contact us or visit one of our three convenient branches. If you’re ready to get started apply online now for quick approval!

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Student Loan Consolidation vs Refinancing Share on Twitter: Student Loan Consolidation vs Refinancing

Fund Your Dream Vacation With A Personal Loan From PCU4/21/2017

Fund Your Dream Vacation With A Personal Loan From PCU!

Personal loans are most often used to consolidate debt or pay off credit card bills but they can also be used for a world of travel opportunities. Read more to see if a personal loan from Palisades Credit Union is right for you!

Travel can provide life-changing experiences that you never forget. Unfortunately, those life-changing occasions can be pricey. According to the U.S. Department of Labor's Consumer Expenditure Survey, Americans who travel beyond our borders spend an average of $271 per day, per person.

So, what can Rockland County residents do when a bucket list trip pops up at a discount and you're temporarily tapped out? Consider applying for a personal loan from Palisades Credit Union. Even if you have room to add to your credit card balances, unsecured personal loans can be a better way to pay for a dream vacation.

Loan vs. credit cards

If you have a travel or rewards credit card, you don't have to forego the benefits of using it for your travel. Get your rewards, miles or cash back by charging your trip, but pay it off right away with a travel loan.  Personal loans offer several additional advantages over credit cards including:

  • Personal loan rates are almost always lower than credit card rates.
  • Personal loans don't increase the utilization ratio of your credit lines, which helps your credit score.

Unsecured vs. Secured Loans

At Palisades Credit Union we offer various options for personal loans: unsecured personal loans and secured personal loans.

Unsecured personal loans are available for up to $30,000. Palisades Credit Union has competitive rates and flexible terms for whatever fits your style. There are no limits on the use of loan funds and there is no security required.

Our Secured Personal Loan is a loan that is secured by cash in a savings or certificate account. By using your savings or certificate as collateral on a loan you can enjoy much lower interest rates than with most conventional bank loans. This is also a great way to establish credit history without depleting your hard-earned savings.

Get Packing!

Plan now for your dream vacation without breaking the bank! Apply now for our Personal Loan Special! Click here to apply online today!

Learn more by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Fund Your Dream Vacation With A Personal Loan From PCU Share on Twitter: Fund Your Dream Vacation With A Personal Loan From PCU

Drive Away With A Low Rate4/13/2017

Drive Away With A Low Rate And More Benefits!

Once you've found the vehicle that fits your needs, make sure your auto loan is also a perfect fit. Learn if the Flex Auto Saver Loan from Palisades Credit Union is right for you!

Contrary to what many people think, car dealerships are not the only places that offer auto leasing. Before you decide to go with the dealership’s lease option, calculate your Flex Auto Saver Payment! Like a lease, Flex Auto Saver offers payments considerably lower than conventional financing on your new or preowned vehicle. Yet, unlike leasing, you own the vehicle and receive all of the flexibility and benefits of vehicle ownership!

Auto Leasing vs. Purchasing

With a vehicle lease you have the car for a set number of months (the average is 37) and the end of the final month the borrower returns the car to the lender or takes out a loan to finance the remaining balance. Vehicle leases offer great benefits, especially if you drive a consistent number of miles each year, need to have a newer car that requires low maintenance, or like to change cars every few years.

Flex Your Spending Power

Not sure if leasing a vehicle is right for you? The Flex Auto Saver loan combines the best benefits of both a lease and a purchase loan to put you in the driver’s seat!

With the Flex Auto Saver loan, you will enjoy considerably lower financing rates compared to a conventional auto loan and no application fee to get started. After a few years, if you decide you want to sell, trade or purchase the vehicle you can! Or if you decide that you want to get a new car, you can return your current leased vehicle at loan maturity and simply walk away.

Calculate Your Options

Finding the perfect car may be hard, but finding the best auto loan to meet your needs is not with our online calculator! Simply enter the vehicle year, make, model and style and compare the cost of the Flex Auto Save Loan to a conventional loan payment to see which option is right for you!

Ready to get started? Apply online now for a Flex Auto Saver loan from Palisades CU and drive away with a super low rate! Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Drive Away With A Low Rate Share on Twitter: Drive Away With A Low Rate

Credit Card Upgrade3/29/2017

Palisades CU is pleased to announce that we are upgrading our credit cards!

In addition to upgrading cards, all credit card information will be accessible through Online Banking.

Here are some of the new features:

  • New Rewards Program
  • Easy to use interface

Beginning Saturday, April 8, 2017:

  • If you need to report your credit card lost or stolen, please call 800-449-7728.
  • if you are trying to access your credit card by calling the number on the back of your card, please call 855-779-1065.
  • If you are trying to access your credit card online at www.gotomycard.com, please login to Palisades CU online banking. Credit card information such as balance, minimum due, due date and the ability to make payments is available. 

Beginning Monday, April 10, 2017:

  • Full online access to your credit card will be available through on Palisades CU online banking. 

Once you receive your new card:

  • Activate your new card by May 2, 2017
  • Update the payment address in your records or with any Bill Pay services
  • Update your card number with any merchants that process automatic charges

Important dates to remember if you have a Palisades CU Rewards credit card:

  • April 6, 2017: Last day to earn points with existing rewards program
  • April 7, 2017: Begin earning points with new rewards program
  • April 30, 2017: Last day to redeem points in current credit card portal
  • May 1, 2017: Begin to redeem points earned after April 6, 2017 with new rewards program

May 31, 2017: Points earned before transition will be available in the new rewards program

For information about using online to access credit card information click here

 

Share: Share on Facebook: Credit Card Upgrade Share on Twitter: Credit Card Upgrade

Mortgages: CU vs. Bank3/28/2017

Whether you are a first-time home buyer or a seasoned veteran, you likely already know that there are many options available when choosing a mortgage lender to buy a new home. Many people choose large banks or corporations for their mortgages because they feel that they can get a better rate – but is that really true? Read on to find out!

  1. With A Credit Union You’re More Than Just A Number

When you apply for a mortgage loan with a credit union, you’re more than just a number, you’re a member. As a member of a credit union you can take advantage of lower fees, better rates and superior customer service. Credit unions can offer these benefits and more because they are not-for-profit organizations. 

Not already a member of a credit union? Becoming one is easier than you think! Palisades Credit Union is proud to be the first federally insured community chartered credit union in Rockland County. Individuals who live, work, worship, volunteer or attend school in Rockland County, New York can join us. Simply use this link to apply online to become a member of Palisades Credit Union today!

  1. You Could Save Money With A Credit Union

Credit unions are known for having lower fees when compared to most big banks. How can credit unions offer such great rates? Because credit unions are not for profit and member owned, profits are returned to members of the credit union in the form of lower rates and fees. This is different from banks, whose sole purpose usually involves generating revenue for investors.

  1. Don’t Have Excellent Credit?

Many people overlook credit unions as an option for mortgages, especially if they don’t have excellent credit. With a credit union, you are seen as a member, and depending on your situation we will try to find an option that works for you.

Buying a home is often the largest purchase most people will make in their lifetime so finding the right mortgage loan is important! If you are a resident of Rockland County, New York we encourage you to take a advantage of the mortgage loan benefits that a credit union like Palisades Credit Union can offer including personalized service and great low rates! Ready to get started? Apply online today.

Find more mortgage tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Mortgages: CU vs. Bank Share on Twitter: Mortgages: CU vs. Bank

Spring Into Action3/15/2017

Spring Into Action With A Home Equity Line of Credit (HELOC)

Put your home’s equity to work and get the flexibility you need with a Home Equity Line of Credit (HELOC) from Palisades Credit Union! Whether you want to spruce up your home for spring, plan a vacation or consolidate your debt you can do it on your terms with help from Palisades Credit Union.

 

What is A Home Equity Line of Credit?

A Home Equity Line of Credit (HELOC) is a revolving form of credit that is similar to a credit card except it uses your home as collateral.

Palisades Credit Union is currently offering Rockland County homeowners a special introductory rate on new HELOC loans! You can even use it for properties in New York, New Jersey, Connecticut, Massachusetts, and Pennsylvania.

 

Benefits Of A Home Equity Loan

There are many benefits of getting a home equity line of credit thorough Palisades Credit Union including:

  • Possible tax advantages
  • Pay only for what you use on your line of credit
  • Lower interest rate than using your credit card
  • Your line of credit rebuilds each time you make a payment
  • You have 10 years to draw money as you see fit
  • After the 10 years is up, there is a 15-year repayment term

 

What Can You Use A Home Equity Line of Credit For?

Palisades Credit Union Home Equity Lines of Credit allow homeowners to use available equity to help finance for home improvements, tuition, debt consolidation, vacation or to refinance existing mortgages with higher rates.

Ready To Get Started?

Applying online for a home equity line of credit is fast and easy! Click here to get started today.

 

Find more tips and information by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: Spring Into Action Share on Twitter: Spring Into Action

First Time Home Buyer Tips!3/6/2017

Are you ready to buy your first home? Taking the steps to buy a home is exciting but it can also be scary if you don’t know what to expect. Take a look at these tips to avoid making common mistakes that could end up putting your new home loan on hold!

  1. Not Knowing How Much You Can Afford

A standard rule for lenders is that your monthly housing payment (principal, interest, taxes and insurance) should not take up more than 28 percent of your income before taxes. If you don’t already have a monthly budget, take a few minutes and list all of your monthly expenses (not including how much you are currently spending on rent) including your car payment, credit cards, student loans, health insurance, etc. Next, subtract that amount from your paycheck amount and you’ll know about how much you can spend on a new home each month. Knowing what your price range is for a new home can prevent the frustration of falling in love with a home that you can’t afford.

  1. Not Getting Prequalified For A Mortgage

Mortgage pre-qualification means that a lender has reviewed your income to give you a general idea of how much you can borrow for a new home loan. While this does not guarantee that you will receive a mortgage loan, it’s a good place to start. Shopping for a new home without preapproval would be like going to the grocery store without your wallet. Pre-qualification will give you an idea of what price range you can shop in and it paves the way for the next step in the mortgage process: pre-approval.

  1. Not Choosing The Right Lender

One of the most complicated decisions you will likely make concerning your home mortgage will be which lender to choose. Today there are many mortgage lenders eager and ready to accept your loan application. But just because a lender accepts your application doesn’t mean it’s the right deal for you.

Before you begin the prequalification process, make sure to shop around and compare financial institutions that offer mortgage loans. Commercial banks aren't the only financial institutions that originate mortgages – credit unions like Palisades Credit Union can too!

At Palisades Credit Union we strive to help our members finance the home of their dreams. We understand that finding the right home and mortgage sets a solid foundation for successful homeownership. Whether it’s your first home or a refinance, our representatives will walk you through all the steps.

The Bottom Line

Being a first time homebuyer may seem stressful and overwhelming at times but knowing what to expect and working with a mortgage lender with your best interest in mind can make the process much easier!

Find more mortgage and new homebuying tips by following Palisades Credit Union! Connect with us on Facebook, Twitter, Instagram or LinkedIn.

Share: Share on Facebook: First Time Home Buyer Tips! Share on Twitter: First Time Home Buyer Tips!

Funtastic Fundraiser2/7/2017

Palisades Credit Union Partners with Rockland Boulders for Charity

Palisades Credit Union is proud to partner with the Rockland Boulders in their new and exciting fundraiser program that is guaranteed to help area groups and 501(c)3 organizations raise an unprecedented amount of money while enjoying all the fun of a Boulders home game.

“The Rockland Boulders have been successful since day one and a lot of that success can be attributed to groups who enjoy spending quality time together at the ballpark,” said Ken Lehner, Boulders Team President.

The “Funtastic Fundraiser Program” can be enjoyed as part of any Friday or Saturday home game during the Boulders 2017 regular season. On Friday nights, qualifying groups can sell $15 tickets that include a special Rockland Boulders hat and an infield box seat. For each ticket sold, the Boulders will donate $4 to the participating group. The same deal will apply on Saturday nights, $15 for an Infield Box Seat and a Boulders hat, but the team will instead donate $6 to the organization for each ticket sold.

During this exciting new program, should any 501(c)3 organization sell at least 100 tickets to their individual game, Palisades Credit Union will match the donations by the Boulders – which will allow groups to receive up to $12 back for every $15 ticket sold.

 “Palisades Credit Union is proud to be part of a fundraising program that gives back to community groups and organizations,” said Tony Molina, CEO of Palisades Credit Union. “It is exciting that our participation will allow organizations to continue to make a difference in, and provide for Bergen, Orange, and Rockland counties.”

A total of 19 dates are available for this exciting program, including 10 Saturdays throughout the 2017 summer, that all include a post-game Fireworks Extravaganza. The first game where groups can take advantage of this new plan is Saturday, May 20th, a scheduled double-header with the Sussex County Miners set to begin at 6:30pm at Palisades Credit Union Park.

If your group is interested in booking a fundraiser game this year, call (845) 364-0009 to speak with an experienced Rockland Boulders sales representative. The Rockland Boulders will begin their seventh season of play in the Can-Am League on Thursday, May 18th at 7:00pm when they host the Miners.

For more information on Palisades CU and its services, visit www.palisadesfcu.org or call 800-438-7415.

About Palisades Credit Union

Palisades Credit Union is a not-for-profit organization founded in 1941 with a vision of building valued relationships through a lifetime of financial solutions. As the largest Rockland County based Credit Union, it operates three branches and provides a suite of full service banking products and services. Membership to Palisades Credit Union is open to anyone who lives, works, studies, volunteers, or worships in Rockland County, New York.

Share: Share on Facebook: Funtastic Fundraiser Share on Twitter: Funtastic Fundraiser

Saving Rockland Over $2 Million in Interest1/9/2017

Palisades Credit Union Saves Rockland County over $2 Million in Interest

Palisades Credit Union set a goal in 2016 to save Rockland County residents $1 Million in interest on loans with competitive rates. As a community chartered credit union, Palisades wanted to reinvest in its members and the community. The credit union found a way to save its community money by helping members find lower rates for their loans

Over the last year, Palisades CU saved members over $2 Million in interest on loans. Members were able to take their savings and use it to spend time with family and reinvest in the community. Palisades is proud to help members take that money back from institutions valuing profit over people.

Palisades Credit Union has been serving its members for over 75 years and looks to continue providing competitive financing to the community. Join today and see how much you can save on your next loan! For more information on Palisades CU and its services, visit www.palisadesfcu.org or call 800-438-7415.

About Palisades Credit Union

Palisades Credit Union is a not-for-profit organization founded in 1941 with a vision of building valued relationships through a lifetime of financial solutions. As the largest Rockland County based Credit Union, it operates three branches and provides a suite of full service banking products and services. Membership to Palisades Credit Union is open to anyone who lives, works, studies, volunteers, or worships in Rockland County, New York.

Share: Share on Facebook: Saving Rockland Over $2 Million in Interest Share on Twitter: Saving Rockland Over $2 Million in Interest

How to Set Up Direct Deposit12/28/2016

Direct Deposit is a free service that automatically deposits recurring income into your checking or savings account. Types of deposits that qualify include: salary from your employer, Social Security, pension, retirement plans, the Armed Forces, VA benefits, and annuity or dividend payments.

If your employer or agency offers Direct Deposit, you just need to follow these easy steps.

  1. Ask your employer or agency for the form to set up Direct Deposit
  2. You will provide them with Palisades CU’s routing #: 221979101 and your account number will be your member number.
  3. Select the account you have at Palisades to deposit your income. Make sure to select a type of account that you already have (checking or savings).

Make sure to monitor your account to verify the deposit went into effect.  

Share: Share on Facebook: How to Set Up Direct Deposit Share on Twitter: How to Set Up Direct Deposit

Black Wednesday Sale11/14/2016

Beat the Rush! Black Wednesday Loan Sale

In honor of the biggest shopping season, Palisades CU will host a Black Wednesday Loan Sale to get shoppers ready for Black Friday. You can apply online or in person starting Wednesday, November 23 8AM-5PM EST. Get ready to submit those applications early as rates will increase throughout the day. 

Apply Online

  Auto Loan Personal Loan
First person approved in each branch or online As low as 0.99% APR* As low as 4.99% APR*
Next 10 people approved in each branch or online As low as 1.29% APR* As low as 5.49% APR*
Approved loan applications submitted before 11AM EST As low as 1.59% APR* As low as 5.99% APR*
All Day Rate As low as 1.99% APR* As low as 6.99% APR*

*APR = Annual Percentage Rate. Application and Membership with Palisades Credit Union is required. This offer is not valid on loans currently held at Palisades CU. Applicant must apply online or in person on Wednesday November 23rd from 8AM - 5PM EST to receive this special offer. Standard underwriting guidelines will apply. Maximum auto loan term is 60 months. An auto loan with a 60 month term at 0.99% APR would have an estimated monthly payment of $17.09 per $1,000 borrowed. Maximum personal loan term is 36 months. Maximum personal loan amount is $30,000. A personal loan with a 36 month term at 4.99% APR would have an estimated monthly payment of $29.97 per $1,000 borrowed. Minimum loan amount for all loans is $2,500. Employees and volunteers of Palisades Credit Union and their immediate family are not eligible for this offer. Advantage Pricing does not apply. 

Share: Share on Facebook: Black Wednesday Sale Share on Twitter: Black Wednesday Sale

Travel Tips11/9/2016

Five Travel Tips to Help Make Vacation a Breeze

  1. Sign up for Online Banking

While traveling you can monitor your accounts from anywhere! Download the Palisades CU mobile app to check your balances on the go. It takes minutes to sign up!

  1. Sign up for Bill Pay.

Don’t miss any payments while you are away. You can easily set up automatic payments for bills online to avoid any late fees.

  1. Notify the Credit Union about travel plans.

Make sure Palisades CU knows when and where you are traveling so that you can continue to use your cards securely while on vacation. Palisades CU wants to ensure your accounts are secure. When unusual account activity is seen, it may be flagged as fraud to protect you. Give us a call at 845-602-4242 or send us a secure message through Online Banking to inform us of any travel plans

  1. Put a hold on your mail.

Identify theft could be a problem especially when you are away on vacation. Those looking for a way in, will notice your overflowing mailbox and might just take a peek at your financial statements. Make sure to put your mail on hold so it is held securely at the post office until you are back from vacation.

  1. Check out our ATM and Branch Locator.

Avoid fees while you are away. Make sure to use our website locator to find the nearest shared branches or in network ATMs while on vacation. And remember, as long as you qualify in your Kasasa Rewards Checking account, you will be reimbursed up to $25* for any out of network ATM fees nationwide.

Share: Share on Facebook: Travel Tips Share on Twitter: Travel Tips

Relief for Hurricane Matthew10/7/2016

Palisades Credit Union Offers Relief Loan Special for Hurricane Matthew

(Pearl River, NY) - Palisades Credit Union announced today that they will be offering low rate relief loans to provide assistance to all Rockland county residents who have families that have been affected by Hurricane Matthew.

The Credit Union is offering personal loans at 50% off their standard rates for terms up to 24 months. The loans can be used for anything to help with relief in the affected areas. Through this offer, Palisades CU hopes to help the families of our members who have been affected by Hurricane Matthew.

Relief Loan applications can be taken online and over the phone, please visit www.palisadesfcu.org/apply to get started. For more information about the loan program visit www.palisadesfcu.org/reliefloan

About Palisades Credit Union

Palisades Credit Union is a not-for-profit organization founded in 1941 with a vision of building valued relationships through a lifetime of financial solutions. As the largest Rockland County based Credit Union, it operates three branches and provides a suite of full service banking products and services. Membership to Palisades Credit Union is open to anyone who lives, works, studies, volunteers, or worships in Rockland County, New York.

Share: Share on Facebook: Relief for Hurricane Matthew Share on Twitter: Relief for Hurricane Matthew

Palisades CU 2016 Scholarship10/3/2016

Palisades Credit Union Offering Local Students Chance to Win Scholarships

(Pearl River, N.Y.) – Palisades Credit Union is offering local high school seniors a chance to win scholarships for college. Palisades CU is participating in the New York Credit Union Association’s statewide credit union scholarship program, which provides credit union members with scholarships. In 2016, scholarships awarded ranged from $250 to $1,500.

To be eligible, students must be high school seniors attending two- or four-year accredited educational institutions for the first time in the fall of 2017. They must also be members Palisades CU.

Students/applicants will be competing against other credit union members from across the state. Applicants will be judged based upon academic achievements, extracurricular and community activities and the quality of written essays. Last year, the New York Credit Union Association awarded $25,000 in scholarships through the program. In addition, Palisades CU awarded $3,000 to 7 local students.

For more information about the scholarship program, click here

About Palisades Credit Union

Palisades Credit Union is a not-for-profit organization founded in 1941 with a vision of building valued relationships through a lifetime of financial solutions. As the largest Rockland County based Credit Union, it operates three branches and provides a suite of full service banking products and services. Membership to Palisades Credit Union is open to anyone who lives, works, studies, volunteers, or worships in Rockland County, New York.

Share: Share on Facebook: Palisades CU 2016 Scholarship Share on Twitter: Palisades CU 2016 Scholarship

To Refinance or Not To Refinance9/26/2016

Have you checked mortgage interest rates lately? If rates happen to be lower than when you bought your home, it may make sense to refinance to a lower rate. Read on to learn more about refinancing and to see if it’s something you should consider.

Read More »
Share: Share on Facebook: To Refinance or Not To Refinance Share on Twitter: To Refinance or Not To Refinance

Mystery Shopper Scam8/12/2016

Palisades Federal Credit Union is aware that there is a Mystery Shopper Scam that utilizes fraudulent credit union checks with our logo and credit union information.

Letters are being sent welcoming people to the Mystery Shopper program. Recipients are asked to deposit the fraudulent check into their bank accounts. After completing a few assignments, they are told to keep a set amount as their payment for completing the mystery shop assignments and to send the rest back to the sender.

If you receive an invitation from a Mystery Shopping company,

  • DO NOT deposit the check. Legitimate companies will not pay you in advance and ask you to send money back to them.
  • Verify the company information.
  • If it sounds too good to believe, it usually is.

If you have received one of these letters, we ask that you contact us so that we can continue our investigation with the appropriate authorities. You may give us a call at 845-602-4242.

Share: Share on Facebook: Mystery Shopper Scam Share on Twitter: Mystery Shopper Scam

ATM Network Upgrades8/1/2016

As of Setepmber 7, 2016 Palisades CU will no longer be part of the Allpoint Network. For up to date ATM locations please use the ATM locator on our website and mobile app. 

With our new Kasasa Rewards Checking accounts, you may be eligible for monthly ATM refunds up to $25 nationwide. To learn more about Kasasa Rewards Checking accounts click here or call 845-602-4242.

 

Share: Share on Facebook: ATM Network Upgrades Share on Twitter: ATM Network Upgrades

A Home Run For Palisades CU Members6/14/2016

Palisades Credit Union Park

Palisades Credit Union is now offering discounts at Palisades Credit Union Park, home of the Rockland Boulders. By using a Palisades CU debit or credit card you can receive 20% off tickets at the box office, items in the team store, and food& non-alcoholic beverages in the main concession stands.

If you do not already have a checking account with Palisades Credit Union or a debit card, visit one of one of our branches or www.palisadesfcu.org/apply

Share: Share on Facebook: A Home Run For Palisades CU Members Share on Twitter: A Home Run For Palisades CU Members

Palisades CU Ballpark4/25/2016

Palisades Credit Union Acquires Naming Rights to the Rockland Boulders Ballpark

 

Fans of the 2015 Can-Am Regular Season Champion Rockland Boulders will find a new community partner on the ballpark this year with the announcement today that Palisades Credit Union has acquired naming rights to the park now to be called Palisades Credit Union Park.

“We’re thrilled to have this longtime community financial institution join our family and a team that promotes America’s pastime while providing quality and affordable family entertainment,” said Boulders President Ken Lehner. “Palisades Credit Union has a 75-year history serving our region, representing more than 15,000 area residents and is poised to grow significantly.”

Palisades Credit Union President Tony Molina said “this decision is about building a partnership for a long-term commitment, serving the community and providing our members with great benefits through this relationship.  Palisades Credit Union and the Rockland Boulders share a culture of community involvement that makes this a perfect fit.”

Palisades Credit Union takes over naming rights from what had been Provident Bank, which acquired  Sterling National Bank and now operates under the Sterling name.

The Boulders will begin their quest for their third straight pennant at the new Palisades Credit Union Park on Thursday, May 19th at 7:00 pm when they host the Sussex County Miners. The first 1,000 fans will get a 2016 magnet schedule, while all fans will enjoy a post-game Fireworks Extravaganza.

 

About Palisades Credit Union

Palisades Credit Union is a not-for-profit organization founded in 1941 with a vision of building valued relationships through a lifetime of financial solutions. As the largest Rockland County based Credit Union, it operates three branches and provides a suite of full service banking products and services. Membership to Palisades Credit Union is open to anyone who lives, works, studies, volunteers, or worships in Rockland County, New York.

About Rockland Boulders and Bottom 9 Baseball, LLC

The Rockland Boulders are entering their sixth season of professional baseball in the Canadian American Association of Professional Baseball (“CanAm League”) after reaching the playoffs for the second straight season last year. After winning their first ever league championship in 2014, Rockland set new records for wins (63) along with a new mark for overall attendance, bringing 161,769 fans to Provident Bank Park in 2015. Their first ever home game was played on June 16th, 2011 in a brand new stadium, formerly known as Provident Bank Park, now known as Palisades Credit Union Park, near Exit 12 of the Palisades Parkway in Pomona, NY. Expected to enhance the rich baseball history in the New York City region, Rockland Boulders Baseball is part of the fastest growing family sport in America. During the 2014 season, the Boulders also welcomed their 500,000th fan, leading the league in total attendance and per-game attendance. In 2014, Rockland was named the CanAm’s “Organization of the Year” for the second time, also receiving the honor in 2012. The Boulders are owned and operated by Bottom 9 Baseball, LLC (B9B), a sports and entertainment management company comprised of former executives from all levels of major and minor league sports. B9B is committed to providing superior customer service and quality, affordable family entertainment experiences for the Lower Hudson Valley and northern New Jersey. Slide to www.rocklandboulders.com for more information.

Share: Share on Facebook: Palisades CU Ballpark Share on Twitter: Palisades CU Ballpark

Updated Fee Schedule4/1/2016

On April 1st we sent out our updated fee schedule to our members. Make sure you take a look as the new fees will be effective as of May 16, 2016.

 

Here is a link to our current fee schedule: Fee Schedule

 

If you have any questions please give us a call at 800.438.7415.

Share: Share on Facebook: Updated Fee Schedule Share on Twitter: Updated Fee Schedule

Go to main navigation
tr?id=944422258948976&ev=PageView&noscri tr?id=944422258948976&ev=PageView&noscri