Bridgewater Credit Union

Like Our Recent Blog Topics? Here Are More Great Resources for You to Check Out

Are you struggling to purchase a home because of your credit score? Wondering if you need a financial advisor? If you’re interested in more information on the benefits of using a financial advisor or how to improve your credit score, then check out some of these great resources.

• Is your credit score below 760? If so, then check out this article from MSN.com for 9 fast fixes for your credit score.

• The more accounts you have, the greater your chances of debt. Learn more about how to repair your credit rating with this eHow.com article.

• How long can you dispute old negatives on your credit report? Find out with this article from CreditInfoCenter.com.

• This awesome article from Lender411 provides an overview on the 5 things you should do before you refinance.

• Think financial planners are just for millionaires or Wall Street buffs? Think again. Check out this article from BankRate.com for more information on the benefits of using a financial planner.

If you're looking for an auto loan from a dependable credit union, then call Bridgewater Credit Union.

We pride ourselves on offering our customers the best service possible for their checking accounts, mortgages, student loans, and all other products and services. 

You deserve a loan as attractive as your car!

In the market for a new vehicle? Here are our consumer loans that are have been effective since 04/04/11.

Reasons to Talk to a Financial Counselor Before Refinancing Your Home

With so much instability in the economy and the housing market, making the decision to refinance your home is like treading into open waters. Don’t go through the process alone and risk losing money or going bankrupt. Consider some of the biggest reasons to talk to a financial counselor before refinancing your home.

Why Are You Refinancing?

One of the biggest reasons to talk to a financial planner before refinancing your home is to ensure you are going through the process for the right reasons. Discussing your goals and long term plans with a financial counselor will make sure you find the right refinancing package for your needs.

Credit Score

You may know your credit score, but do you know what it means? It is important to review your credit score and history ahead of time, as it can greatly impact your chances of applying for a refinancing loan. Be sure to discuss you credit score with a financial planner for more information on your options or ways to improve your score.

Loan Options

When you apply for a mortgage or initial home loan, you have to research your options. Refinancing your home is no different. You’ll want to look into as many loan options as possible to increase your chances of getting the best interest rates. Consider going over potential plans with your financial advisor to make sure you understand the terms of each agreement.

Home Value

Do you know what your home is worth? Many lenders require home equity before they allow you to refinance, but the only way to determine your equity is to know the market value of your home. Financial advisors are expertly trained to follow and analyze changing market trends to ensure you get the most out of your money.

Looking for the best financial advisors in your area? Professionals with the Bridgewater Credit Union provide the financial planning services for needs. For mobile banking, checking accounts, or to find a location, visit our website today!

Disclaimer:

The materials available at this website are for informational purposes only and not for the purpose of providing financial advice. You should contact a professional to obtain advice with respect to any particular financial issue or problem. Use and access to this website or any of the links contained within the site do not create any financing or lending relationships. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of any bank or lending institute, or individuals therein. 

Go Green

It's a no-brainer investment!

You’ve probably spent plenty of time thinking about how to invest your money, but how often have you considered investing in the environment? Global warming is a pressing issue, especially in the U.S. Although our country makes up only 4.5% of the world population, we account for over 20% of the planet’s carbon emissions! The good news is every individual has the power to drastically reduce their carbon footprint. By making small lifestyle changes today, we ultimately invest in a greener tomorrow. So treat the earth like the asset it is, and start taking action!

At home:

• Install a programmable thermostat so that the temperature automatically lowers at night and while you are away.
• Replace outdated appliances with energy-efficient models; look for appliances with an Energy Star label.
• Use cold water when washing your laundry. And while you’re at it, let your clothes air dry.
• Cut down on paper mail by signing up for E-Statements. Sign up byclicking here.
• Change the air filters in your heating and cooling systems regularly.

With your car:

• Carpool, rideshare or utilize public transportation.
• Bike or walk to nearby places.
• Invest in a hybrid and use 75% less gas than a traditional vehicle.
• Accelerate and drive slower to reduce fuel consumption and cost.
• Keep your vehicle well serviced to maintain an efficient engine.

At work:

• Recycle ink cartridges, computers and other office appliances.
• Print documents double-sided and recycle all paper waste.
• Bring a bag lunch and store your food in reusable containers.
• Turn off and unplug your computer every day.

If a single person can make a difference, think of the impact we all can make! Tell your family and friends about all the ways they can invest in a different kind of green!

Consider a 529 Plan when Saving for Your Child's Future

With tuition costs on the rise, it is a good idea to start saving for college early. There are a variety of ways you can go about investing, and a 529 plan is a great place to start.

What is a 529 plan?
A 529 savings plan is a tax-advantaged savings plan for college. This type of savings program was created by Section 529 of the Internal Revenue Code. Earnings are tax deferred and qualified distributions are tax-free.

How does it work?
There are two types of 529 plans: prepaid and savings. With a prepaid 529 plan, you purchase tuition credits. Credits are purchased at today’s rates and their performance is based upon tuition inflation. The prepaid plan may be administered by the state or by higher education institutions. 529 savings plans are based upon market performance of the underlying investments, which are typically mutual funds. Savings plans may only be administered by the state.

Typically, the person funding the savings plan opens the account. This can be done with either a lump sum investment or a systematic investment plan over time. The account holder designates the beneficiary for whom the funds will be used to pay qualified higher education expenses. During the life of the account, the account holder maintains control of the account. Accounts usually have flexible features for managing your investments, beneficiaries and distributions.

What can the money be used for?
Money from a 529 plan can be used for tuition, books, mandatory fees, room and board, supplies and equipment at any accredited college, university or vocational school in the United States and at some universities abroad.

If you’re interested in learning more about 529 plans, contact our Investment Representative, Ross DeLuca at Bridgewater Credit Union, directly by calling 508.279. 2404.