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Monitor Your Credit Report Annually!

You can order a free credit report once every 12 months from each of the major three credit bureaus at www.annualcreditreport.com.

Beware of Scams

Northern Colorado Credit Union wants to do everything to protect you and money! Your identity and your money are important to you. NEVER give out sensitive information over the phone or in an email, especially with calls that you do not initiate yourself. Sensitive items can be your account number, debit card number, or social security number.

Also beware of phishing scams that try and solicit sensitive information through an email or a website.

If you think you may have been targeted, contact us directly and speak with someone personally about your account(s). We'll be happy to take the extra time needed to assure your accounts are safe—that's what we do.

More Information

Five Golden Steps for Auto Buying

The best way to put you in the driver's seat of a new car is to research the model you're looking for and how you'll pay for it before you even set foot on a car lot.

Step One

Check your credit score. Your credit score influences your interest rate, so a higher score means a better loan package. Make an appointment with your credit union for a quick check-up. Everyone is eligible to use www.annualcreditreport.com for a free credit report of all three reporting agencies once per year. This is the only truly free service with no strings attached. If you have a few dings on your report, our financial services representatives can offer advice on ways to clear them up.

Step Two

Check for the best rate and see what you can afford. Credit unions are known for having some of the best rates around and Northern Colorado Credit Union is no exception. In fact, we usually have the lowest rate in the market—check out our current rate schedules. Calculate your payment and find out how much you can afford with our financial calculator. Here's another tip: You will often save more money by financing a new car with a credit union and taking a dealer's rebate, as opposed to taking a dealer's low finance rate. Check out this rate vs. rebate calculator.

Step Three

Get pre-approved before hitting the car lot. While you're checking up on your credit score, get pre-approved for a car loan. You can do this in-person, on the phone, or online. Pre-approval will help you determine how much car you can buy, how much your monthly payment will be, and it will make the buying process quicker and easier. Use our Online Application and get pre-approved right away.

Step Four

Research. Research car models and compare prices before hitting the lot by visiting our AutoSmart Resource Center and the NADA website. Keep in mind car costs don't stop with the monthly loan payment. According to AAA, an SUV costs 67 cents a mile to drive compared to 41 cents for a typical small sedan when you factor in such costs as insurance, repairs, and depreciation. Before you head to the dealership, compare the five-year "true cost to own" of any vehicle model.

Step Five

Visit the dealer. Once you've secured financing and have a good idea of what car(s) you can afford, visit the dealer. Bring the car values you researched with you and compare them to dealer sticker prices. This information will give you leverage to negotiate when purchasing the vehicle that's right for you.

Even if you haven't gotten pre-approved, always ask for credit union financing at the dealership.

Car Buying Checklist

There's nothing like that new car smell, even if your car isn't brand new. Before you buy a new or used vehicle, it pays to do your homework. Use this checklist for tips to help save you money and to simplify the car buying process.

Steps

  1. Do your research. Researching and comparing vehicles is an important first step in finding out the value of any car you trade in and the new car you want to purchase. Good research is key and plays a significant role in helping you get the deal you deserve through dealer or a private party. It arms you with the best information to negotiate the price you can afford and a payment that will fit your budget;
  2. Before you go to the dealer, contact the credit union to get pre-approved;
  3. Find out what financing option is best for you. The term, vehicle year, and your credit history will help determine the interest rate you'll get for your loan and the payment that will fit your budget;
  4. Lock in your rate and find out what range of vehicles you can shop for;
  5. Consider the benefits and cost savings of purchasing additional insurances, such as Mechanical Breakdown Warranty and GAP Insurance. GAP Insurance covers you so you don't become upside down in your loan. Most dealerships will offer these services to you but at a much higher price than you can get with your credit union;
  6. At the dealership, test drive the vehicle to make sure it meets your needs and expectations. Does a 0% APR loan make sense for you? If doesn't include rebates, you could save more in the long run by financing elsewhere and getting the rebate from the dealership.
  7. Focus on the total price of your "new" car and what the end price will be with applicable rebates and interest. Dealers many times will focus on the payment and you could wind up signing for a higher interest rate or a lengthier term.
  8. Beware of "add-ons" through the dealership and feel free to ask questions. Are the add-ons, like alarm systems, rust protection, glass etching, and so on, necessary for you to purchase at the dealership?
  9. Upon purchasing your vehicle, contact your auto insurance company to inform them of your purchase so you can drive away—safely—in your new vehicle.

Does It Pay to Refinance Your Mortgage?

Mortgage interest rates are still extremely low and it may be the perfect time to refinance. You may have even refinanced several years ago and are now considering a mortgage refinance again because rates have fallen so low and you're afraid they're going to rise. You should consider the following:

1. Amortization.

In the early years of your mortgage, you pay more interest than principal. Run the numbers and calculate how the principal will decrease in the early years of a new loan.

2. Closing costs.

Based on what you'll save with the new, lower mortgage, figure out how long will it take you to recoup the closing costs?

3. Points.

If you paid points for a lower rate on your current mortgage, that money is lost when you refinance.

4. How much longer you are planning to stay in the house.

It's not worth the cost of refinancing if you'll be selling before you can make that money back in savings.

5. Equity.

Would you like to pay off your house faster? You may consider going to a shorter term: 5, 10, or 15 years. Many times the interest rates are even better.

All in all, the decision to refinance should be based on more factors than just the interest rate or monthly payment. Call us at 970.330.3900 to schedule a free consultation.

Sprint Credit Union Member Discount

How would you like valuable savings on monthly wireless bills, plus waived activation and upgrade fees?

You get all that and more thanks to Northern Colorado Credit Union and Sprint's Credit Union Member Discount program.

There are two ways to save with Sprint:

Individuals

  • Get 10% off of select regularly priced Sprint monthly service
  • Have your activation fee waived (up to $36 in savings)
  • Have your upgrade fee waived (up to $36 in savings)
  • Use Corporate ID: NACUC_ZZM to claim your discount

Businesses

  • Get 15% off of select regularly priced Sprint monthly service
  • Have your activation fee waived (up to $36 in savings)
  • Have your upgrade fee waived (up to $36 in savings)
  • Use Corporate ID: NACUC_ZDS_ZZM to claim your discount

Credit Union Member Verification

Verification is easy and only takes a few minutes to complete. There are four ways to verify credit union membership:

  1. Use the Free Invest in America apps for iPhone or Android (you will be prompted to black out all confidential information within the app)
  2. Visit www.Sprint.com/verify from a mobile device. Black out all confidential information on your documentation prior to faxing.
  3. Sign up for Sprint's AutoPay using your credit union's checking account or credit union debit/credit card: http://www.sprint.com/.
  4. For members paying their Sprint monthly bill through Sprint's AutoPay option using their credit union checking account or debit/credit card, verification is as easy as it gets.
  • Members sign up for Sprint's AutoPay online using their credit union account (checking, credit card or debit card).
  • Sprint pulls the R&T and credit/debit card BIN numbers monthly and verifies credit union membership for all accounts being paid through Sprint's AutoPay.
  • These members are validated monthly each time the report is pulled. Members verified this way don't need to go through any other verification process.

Start saving with Sprint today!

Is a HELOC Right for You?

A Home Equity Line of Credit (HELOC) can be a valuable tool for responsible borrowers. A HELOC basically works like a credit card, but interest rates are usually much better than for other loans. Plus the interest on a Home Equity Line of Credit may be tax deductible (consult your tax advisor to be sure). Would you like to remodel your home or do you have home expenses you need to cover? Do you need to consolidate debt from higher interest loans like high-rate credit cards? Or would you like to finance a vacation over a period of time? If you answered "yes" to any of these, your home's equity can be extremely useful. We look at your individual situation, examine various factors like your income, credit history, expenses, and other debts to see what rate and payment makes sense for your situation. Then we set up a HELOC that's right for you.

What are the main benefits of a HELOC with NCCU?

  • NO annual fee (some other institutions charge an annual fee)
  • NO fees for future advances over $499
  • You can transfer funds directly into your NCCU checking ccount
  • Much lower interest rates than many other loans, especially credit cards.
  • Interest payments may be tax deductible.
  • Advance transfers can be done through Home Banking 24/7
  • Consolidating other high interest loans to a HELOC gives you one easy monthly payment at a great interest rate.
  • Terms for repayment that make sense and help you pay off your loan in five (5) years.

As with any home loan, you want to make sure that you have a steady, reliable source of income and know that you will be able to repay the loan. A HELOC's low interest rate and tax deductible interest paid makes it a sensible alternative.

Like to learn more? Visit: Home-Equity Loans: What You Need To Know

Consolidate your loans and see how much you can save!

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