ProMedica FCU Articles
Home Improvements
Home Improvements That Matter

When you’re looking to upgrade your home, tapping into the equity with a home equity loan or line of credit makes a lot of sense. In some cases, the interest on the loan might be tax deductible — and even if it isn’t, home equity loans typically carry a lower interest rate than credit cards […]

Credit Union Difference
Do you know the real credit union difference?

First and foremost, the ownership of a credit union differentiates it from other types of financial institutions. Rather than a for-profit organization run by a paid board of directors who report to shareholders, a credit union is a not-for-profit financial cooperative. That means you are the owners. And our volunteer board of directors — who you vote for — work to ensure that the credit union continues to meet the needs of all its member-owners.

Healthy Eating
How to Eat Healthy on a Budget

When was the last time you tried to eat cheaply? You probably focused on a lot of ramen, maybe some potatoes and rice, and occasional trips to the dollar menu. Although these foods are cheap, they are lacking in nutrition — and loaded with sodium.

Rent or own photo
What is Your American Dream?

These days, the “American Dream” is no longer a universal idea; it means different things to different people. In previous decades, the American Dream meant doing better than your parents, which can include buying a home. But today, owning property isn’t necessarily everyone’s immediate goal. During the Great Recession, between 2007 and 2014, 7.3 million consumers lost their homes, according to RealtyTrac. With so many families affected by this loss, it is no surprise that in recent years the home ownership rate has fallen from 69 percent in the early 2000s to 63.7 percent at the beginning of 2015, according to the Washington Post. As home ownership has declined, the 2010s are on track to see the fastest growth in renters in history.

Estate Planning
How can a little planning protect your assets and your family?

We make five-year life plans, savings plans, and even dinner plans, but what about the plan for when the unthinkable happens and we are no longer here to care for our families? Nationally, only 42 percent of adults in this country have estate planning documents such as a will or living trust, according to a Caring.com survey. The numbers in Ohio are slightly more encouraging; with 57 percent saying they have a will in place stipulating who will care for their children in the event of the parents’ death, according to results from the Ohio Credit Union League’s 2017 Consumer Survey.

Back -To-School
Shop Smart and Save this Back-To-School Season

Even though summer has just begun, pretty soon it’ll be time to focus on the school year ahead, and if your family is like most, you’re already thinking about purchasing school supplies for the upcoming year.

Emergency Savings
Nearly a Quarter of Americans Have No Emergency Savings

Nearly a quarter of Americans have no emergency savings, according to a new report from Bankrate.com. However, the percentage of those without an emergency fund currently sits at a six year low, down to 24% this year from 28% last year. Additionally, Americans with an adequate savings cushion – enough to cover six months’ expenses […]

Mortgage Rates
Mortgage Rates Remain Near 7-Month Lows

Mortgage rates touched seven-month lows early this month, and stayed there last week. According to Bankrate.com’s weekly national survey, the benchmark 30-year fixed mortgage rate inched lower last week, moving from 4.04 percent down to 4.02 percent. The larger jumbo 30-year fixed nosed up to 4.00 percent, and the average 15-year fixed mortgage rate settled […]

Car Prices
Car Prices: Something Funny Is Going On

People are paying way too much for new vehicles these days, with average transaction way out of whack with average household incomes. According to Kelley Blue Book, the estimated average transaction price (ATP) for light vehicles in the United States was $33,261 in May 2017. According to the government, the median household income in the U.S. was $56,000 in […]

Identity Theft
Consumers, be wary: Identity theft is on the rise

If you’ve been a victim of identity theft, you’re not alone. Thirty-three percent of Ohioans reported that they’d been victimized by fraud and/or identity theft in a year-end 2016 survey conducted by the Ohio Credit Union League. More could have suffered at the hands of fraudsters without knowing it yet. In 2015, Ohio had the […]