Home Mortgage Refinancing
If you're a homeowner, mortgage refinancing might be worth considering — even if your mortgage is only a year old. In the following Save and Succeed example, Todd and Amy are interested in refinancing their home to save money. They have been researching mortgage refinance loans, but they have different goals: Todd wants to make lower monthly payments, while Amy wants to pay the house off quicker.
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COVID-19 Impact on the Credit Union
Nearly every business was affected by COVID-19 and most were impacted negatively. As we close out 2020, with news of COVID vaccines soon to arrive, we sat down with CU President Mike McDermott to ask some questions about how Metro was specifically impacted by the pandemic.
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Annual Membership Meeting - Saturday, March 6, 2021
Each year Metro holds an Annual Meeting open to all members of the Credit Union. The 2021 Annual Meeting is currently planned for Saturday, March 6th at 9:00 a.m. at the Marriott Regency Hotel in Omaha. Because of the COVID-19 pandemic, this year’s Annual Meeting will include only the business meeting and reports as required in the Credit Union’s bylaws.
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Save for College Month - September
Going to college can be one of the most costly investments someone makes in life. There is significant evidence, however, that college graduates make more money over their lifetime than their peers who choose not to pursue at least a four-year degree.
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Metro Days Member Appreciation
We are excited to share that from September 28th - October 3rd we will be giving away a total of $60,000 in gift cards for our daily drawing prizes for a total of 120 winners through the week of Metro Days, our Member Appreciation Event. All Metro Credit Union members excluding employees will be automatically entered to win.
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September: Create a Financial Plan for the Year
It’s now September and we are getting out of the summer pools and into the back-to-school routine. Grab your pumpkin spice latte as this season is a great time to focus on your finances.
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HELOC Home Equity Line of Credit Pros & Cons
You’ve purchased a home in your dream neighborhood and you're slowly but surely fixing it up to make it absolutely perfect. Perhaps you’re adding a deck, pool, or doing a kitchen remodel. All of these things can impact your budget, so how will you pay for them? Perhaps a home equity line of credit (HELOC) is a way to check some things off your list and make your home perfect.
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Effective August 31st - Updated Lobby Hours
Every business has been faced with different challenges during the pandemic. To make service hours as predictable as possible, we’re reducing the number of days most of our lobbies are open to enable us to “over-schedule” staff on Mondays, Fridays and Saturdays.
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What Is A Good Credit Score to Buy a Car or House?
Your credit score is a number that indicates the level of risk of default you represent to a creditor at a given moment in time. There are several scoring models, but most are based on the FICO Score, a credit score created by the Fair Isaac Corporation, which is used in most lending decisions. It ranges from a low score of 300, which represents an extremely high risk, to 850, representing an extremely low risk.
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Home Improvement Loan: Good or Bad Idea?
Buying a home helps people feel a little more secure about their financial future. As the years pass and the mortgage decreases, a homeowner will own more and more of their home. The more home that is owned, the more equity is available.
Home equity is how much of your property you actually own. Thus, your home equity is how much of your property's value you've paid off. It can be calculated by looking at the house's current market value and subtracting the remaining balances of your home loan(s). This is an asset that can be borrowed against or cashed in when the home is sold.
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Free Credit Reports Through April 2021
By law, everyone is entitled to one free copy of their credit report every year from each of the three main credit reporting agencies. The three national credit reporting agencies are now giving people weekly access to monitor their credit report — for free – through April 2021.
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Metro Credit Union Is Opening Branches June 1st
We hope you and your family are healthy and safe. As we look forward to welcoming you back to our branches on June 1st, we want you to know about the changes we’ve made in response to the COVID-19 pandemic. Your safety and the safety of our staff is our top priority.
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Home Equity: What Is It & How To Use It?
Metro Credit Union is doing everything possible to help you get through these challenging times.
One way to cover projects, bills, and unexpected expenses is through your home’s equity. With our Home Equity Line of Credit you can borrow up to 90% of your home’s value with fixed rates as low as 1.99% for 60 months.
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Metro Credit Union Banking and the Coronavirus
Developments are moving very quickly with the coronavirus, including talk of business closures. We want to give members an update on where things are with Metro in terms of banking and the coronavirus, and things you can do to ensure easy access to your money and banking services.
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Banking and the Coronavirus: Electronic Banking
Much has been written about preparing at home for a coronavirus outbreak, like stocking up on food, medicine, and water. It’s good to make sure you’re prepared to bank electronically if there is an outbreak so ensure you have access to your accounts before a possible disruption in normal banking services and follow these tips.
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Choosing Metro Credit Union for Home Equity Loans
Choosing a Home Equity Loan should be easy. You’ve got equity in your home. Your credit is good. You can afford the payment. What’s the big deal? The truth is, all Home Equity Loans are not the same, and some lenders advertise rates or terms that very few borrowers qualify for, only to switch you into higher rates or less favorable terms somewhere during the process.
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Credit Scores: What's Good, Average and Bad?
When applying for a business or personal credit, the first thing that matters is your credit score.
In the same way, a report card described what kind of student you were, your credit score tells banks or other lenders what type of borrower you are. Your credit score tells a lender how well you’ve repaid loans in the past, and how likely you are to repay a loan in the future. Not only can your credit score determine whether you get a loan, but it can also determine how much you pay in interest on the loan. A better credit score can save you hundreds or even thousands of dollars in interest.
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Holiday Fee Exchange Dec. 9th-14th
Metro will be doing the Holiday Fee Exchange program again! The dates are December 9th-14th and any Metro member can bring in diapers or a new toy.
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Should You Pay Off Your Car Before Trading It In?
Buying a car on finance/with a car loan is a great decision for many people, as it allows them to drive the car they really want, without hurting their cash flow. In fact, for many people, this will be the only way to afford the kind of vehicle that they always imagined driving.
But it does create some more complicated questions that you might not have had to consider otherwise. For example: should you pay off your car before trading it in? Let’s find out.
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Car Loans: Metro Credit Union vs Car Dealerships
For anyone who wants to buy a car, the best option is usually getting a loan to fund their purchase. When looking at cars, the first thing you'll see is that the dealership gives you the offer of a loan to buy the car you like right now. This is enough for most people to sign right on the dotted line: It's instant finance for your car, after all.
But what if approaching a car dealership isn't the best way for you to get a vehicle loan?
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