|LIAFCU Routing Number: 221492002||Phone: 631-291-9160|
|Find a CO-OP branch||Find a CO-OP ATM||Contact Us||Online Banking Member Login|
A Few Words With Regards to Your Finances:
The weather might still be cold but spring is approaching fast and that means it is time for cleaning! In the spirit of spring cleaning, I thought of a few words to make sure your finances are dirt free and fresh! Usually people wish to get rid of their debt but do not know where to start. Nowadays, almost everyone has so many different credit cards in their wallet. Having different credit cards helps you maximize your disposable cash. However it also increases the chance of paying unintended fees and interest due to forgotten unpaid bills. You can easily eliminate this unnecessary worry in your life by consolidating your credit cards into one loan. By doing so, you can rest assured:
You can save money by paying a lower interest rate
The interest that you pay on your credit cards is probably three times the interest you will end up paying on a personal loan at LISEFCU. Lowering your interest rate means lower monthly payments and more money in your pocket!
You improve your credit score
Your credit score can be affected negatively by maxing out your credit cards. When you pay your debt down on your credit cards and keep your balance below your credit limit, your credit score improves. The rule of thumb is to keep your card balances at 25% or less of their limits.
You are in control
Keeping track of different credit card bills and paying them on time can be frustrating. By consolidating your credit cards, you only have to take care of one loan. In addition, since your payment is going to be automatically deducted from your paycheck, you do not need to worry about paying it on time. Make your long awaited goal of cleaning your finances come true this spring by consolidating your credit card debt into one loan with LISEFCU and start saving today!
Reference: 1. Ashford, Kate 2013 “http://money.cnn.com/2013/04/01/pf/bank-accounts.moneymag/”