News
Tips & Info
We're Still Lending!
You may have seen or heard about other financial institutions that have all but stopped lending in this economy. That's NOT Central Credit Union of Maryland. Your credit union is still making the same kinds of wise lending decisions we've always made. You can depend on us for the loans you need!
Auto Loans and Refinances: we realize that the prices of many cars right now are at record lows and that this is a great time to buy. And for members who want to keep the car they already have, refinancing that auto loan at a lower rate can save hundreds!
Home Equity Loans: homeowners may find the low rates of a home equity loan particularly beneficial for consolidation of other debt. With several convenient terms, you could enjoy paying ONE low payment a month instead of several.
Visa Platinum Credit Card: this is a great time to transfer high rate credit card balances to your CCUMD credit card. Don't pay more than you have to in this economy.
Call 410-828-4500 to speak with someone in our loan department today.
Feeling the PINCH of this Economy?
Have you had trouble paying your bills on time? Have you had calls from debt collectors?
We truly understand that times have been tough for so many of our members recently. If you're having trouble paying all your bills on time, please let us know. While some companies don't take into consideration each individual's circumstances, we make every effort to work with our members on the loans they have at CCUMD...it's just one of the benefits of being a credit union member. Keep the lines of communication open by talking to us about your situation. If we don't hear from you, we can't help.
Be VERY wary of companies that claim to "help you out of debt" by "forgiving" or "cancelling" some or all of your debt. There are many unscrupulous companies out there looking to profit from consumers' misfortune. For safe and reliable assistance with managing you debt, contact the Consumer Credit Counseling Service of Maryland and Delaware, Inc. at 1-800-642-2227. They're an accredited nonprofit community service organization that you can trust.
Contact us at 410-828-4500 or info@ccumd.org
Tips to Weather the Recession
We many not know how long it will last, but the recession is here. This economy is affecting most consumers in some way and people are getting creative to make sure their finances are protected. Below are some tips for helping you weather this economy:
Protect Your Income:
1. Safeguard your job: Do what you can to stand out at work and increase your value to your employer.
2. Prepare for layoffs: Even if you feel your job is safe, be ready for the unthinkable. Keep your resume updated and stay connected with colleagues in your industry.
3. Earn extra income: If possible, pick up a second job and anything extra that you make from that job can go right to your bills.
Reduce Your Expenses:
1. Refinance your mortgage: Since interest rates are at record lows, refinancing your mortgage for a lower rate might be a GREAT move for you, especially if you currently have an adjustable rate mortgage.
2. Refinance high interest loans and credit cards: If you're paying high interest rates on credit cards (this includes department store credit cards) or loans, consider refinancing into lower rates to save money.
3. Reduce spending: Any way you can...at the grocery store, cheaper cell phone service, carpooling or taking public transportation.
Saving and Investing:
1. Retirement saving: If you're able, investing in an IRA, may be a great option.
2. An emergency fund: Try to save enough to cover 3-6 months worth of expenses.
Your Credit Union can lend a hand!
- Bring your high rate loan and credit card balances to us...we'll do everything we can to try to get you a lower rate than you're currently paying!
- Homeowners could benefit from a low rate home equity loan.
- Refinance your mortgage to a lower rate to possibly reduce your payment!
- Open an IRA to help you save for retirement the SAFE and smart way.
- Grow your emergency fund in an NCUA insured money market account.
Contact us NOW for help weathering this economy. Your Credit Union is here for you!
We can be reached at 410-828-4500 or info@ccumd.org
Great News!
The Great News is that your credit union can save you money! And who doesn't need to keep a few extra bucks in their pockets every month?
Here are three ways you may be able to save money monthly:
1. Did you get your auto loan through the dealer or another financial institution? Bring it to Central and we may be able to lower that rate! Download our Auto Loan Application and fax it to 410-337-4905 today!
2. Own a home? Your home could provide the cash you need! A Home Equity Loan with Central will help you get that cash! Download a Home Equity Application and fax it to 410-337-4905 today!
3. Those monthly bills piling up? Why not consolidate them at Central for one low monthly payment! You could save thousands! Download a Loan Application and fax it to 410-337-4905 today!
Or, give us a call at 410-828-4500 or email us to find out the best way to save money every month!!