News and Announcements
On August 17th, an official notice and ballot were mailed to each member of MACCU outlining the details of our proposed partnership with River Valley Credit Union. We will be holding several informational sessions to provide an overview of the merger. If you would like to register, please visit our Partnership page. We hope that we can count on your support to better the future of both credit unions!
We have some very exciting news to announce! For the past several months, we have been evaluating and discussing the possibility of strategically joining forces with another small credit union in Vermont. After careful research and consideration, your Board of Directors is in unanimous support of partnering with River Valley Credit Union in Brattleboro, Vermont. We believe that this merger will strengthen the financial position of the credit union and help to ensure long-term sustainability. This cooperative merger can only happen if our members vote in favor of it, so we hope that we can count on your support. We will keep you updated as we move forward with this proposal and will be available to answer any questions that might arise.
APR Explained: Why A Lower Rate Is Your Highest Priority
How much does your credit card or loan cost you? The answer to this lies in the Annual Percentage Rate (APR). This is a universal measure used to compare the prices of different financial products such as credit cards, loans, and mortgages. To compare different credit products and loans, take a look at the APR and it will give you an idea of how much each costs. This way, you can make a better and informed decision.
What is APR and how does it work?
When applying for a loan, getting the lowest interest rate should be the highest priority. The annual percentage rate is the interest paid for a loan yearly. In the simplest terms, this is the cost of borrowing money.
The APR is shown as a percentage. It contains all the costs and fees related to the loan. The fees and costs are different depending on the type of loan you apply for. For most of the loans apart from mortgages, the fees relate to maintaining the loan and processing.
The most significant advantage offered by APR is the ability to compare loan rates. Take a credit card for example. It comes with different types of costs and fees associated with the account. With the APR, you can compare different cards easily.
The APR is required to be shown to all customers by loan issuers and credit card companies. It facilitates a good understanding of the actual loan rates applicable as per their agreement. Or credit card companies, they are allowed by law to advertise their monthly interest rates. However, they are required by law to state the APR to all customers before signing any agreement.
A loan can be offered with either a fixed or variable APR. The fixed APR loan has a fixed interest rate with a guarantee not to change during the entire life of the loan. The variable APR loan’s interest rate can change any time.
Is the lower APR better?
To put it out there, the lower the APR, the better the loan. However, when it comes to a product like mortgage, the lower APR loan might not be the best. Some mortgage loans give you a lower APR but you pay higher closing costs, higher points and other fees associated with closing the home loan.
Always go for a loan with a lower APR. This is the cost of your loan and the lower you go, the better. However, make sure to read all the details when getting a loan and ask the originator for as much information and details as possible.
In the New Year, it’s an excellent time for a quick change. Most people relate it to education because each year more than 20 million people get enrolled in universities and colleges. Whether you are thinking of enrolling in a program or starting to earn credits in a new field, it’s a great time to learn on the web. Nowadays, everyone uses the internet and stays online for several hours, playing video games or watching videos.
In the meantime, you have seen several ads for online colleges. These online colleges offer several programs that are convenient, flexible and money-saving. But do you think that is enough for you? In this blog post, you will see how you can compare online to offline colleges.
Get to Know About Four Best Ways to Compare Online to Offline Colleges :
1. Compare the Cost of Both:
A Recent survey directed by the American Association of State Colleges and Universities uncovered that 60% of the 400 state-funded colleges reviewed charge the equivalent per credit hour for online courses as they accomplish for study hall courses. The highest contrast in price will be between foundations, not between sorts of organizations.
2. Your Convenience:
You can concentrate on your course load as your timetable permits. It implies that you can keep up your work and other obligations while finishing your training. There’s likewise the driving issue. A study hall course will expect you to communicate, adding time and worry to your instruction.
3. The Piece of Education:
The most important question you have to address while considering your school alternatives is training quality. That is what you’re there for, right? The investigation found that studies in online classes are bound to contribute in-class conversations and have discussions with peers about their significant fields.
4. Worth of Both Colleges:
The genuine issue found for online colleges is their reputation. A few, similar to the University of Phoenix, have a reputation issue. Others, as Southern New Hampshire University, have earned a lot of positive press for their inventive way to deal with instruction. At the point when you’re picking a degree program, look at ranking like US News and World Report’s rundown of best online colleges.