URW Community Federal Credit Union

The Three Basics of Investing By Zach Potojecki In today’s world there is a wide range of investment vehicles where an individual can place their money. There are stocks, bonds, Certificate Deposits (CDs), and many more. With different financial institutions on every other corner, how do you know which is the best option for you? In this article I will be breaking down the three most popular investment vehicles in hopes that you find what works best for you as you venture into the world of investing. Let’s start with the basics of stocks. When you purchase a share of stock, you are actually purchasing a small percent of that company. If the company does well, then the shares of that stock will increase in value. However, if the company is performing poorly, then the price of the stock may decrease. Stocks typically have higher upside potential when compared to bonds or CDs in the long run. When I mention “long run,” I’m talking about 5-10 years or more. With this...

  What Makes Up My Credit Score? By Zachary M. Potojecki               First, there is a slight correction I must make to the title before we move forward. Whether you rejoice or regret discovering this three-digit number that defines your financial well-being, we often refer to it incorrectly. It should say, “What Makes Up My FICO?”               At URW, we use the Fair Isaac Corporation, or FICO for short, which is the industry-standard for measuring creditworthiness of a consumer, ranging from 300 to 850. The vast majority of lenders use FICO as their standard for credit approvals. There are three different FICO versions, which are TransUnion, Experian, and Equifax. At URW we use TransUnion.               You’ve probably seen a commercial for Cre...

                              Why Are Credit Cards So Beneficial?                               By Zachary M. Potojecki               Have you ever asked someone about credit cards, and they immediately tell you that they are evil? If the answer is yes, then the odds are they never had anyone take the time to explain how credit cards work and how they can be so beneficial to you. Credit cards do have their pros and cons just as most things in life.               Let’s talk about your credit first. Are you the kind of person that has excellent pay history, but your score is stuck in the low to mid 600's range? If this is you, ...