Congratulations to Mary Middleton, David Ortega, and Juan Gonzalez on their reelection! Missed our Annual Meeting? Click here for the recording and annual report.
The upcoming main navigation can be gotten through utilizing the tab key. Any buttons that open a sub navigation can be triggered by the space or enter key.
The site navigation utilizes arrow, enter, escape, and space bar key commands. Left and right arrows move across top level links and expand / close menus in sub levels. Up and Down arrows will open main level menus and toggle through sub tier links. Enter
and space open menus and escape closes them as well. Tab will move on to the next part of the site rather than go through menu items.
Enjoy a better banking experience on our free mobile app.
Applying for loans, renting an apartment, even applying for a new job may require a review of your credit score, which means you’ll want to do what you can to maintain or build the best score possible. While credit cards can help you obtain necessary life items, it’s wise to be careful with managing your spend. Misusing credit cards can be detrimental to your credit score so it’s important to build healthy financial habits to help you avoid the pitfalls of credit and stay out of debt. Here are five common credit card mistakes you should avoid making.
Making minimum payments
While minimum payments may sound like an easy way to repay your debt, it can end up costing you big down the line. Making just the minimum monthly payment will extend the amount of time it’ll take you to pay off the debt. Smaller payments will hardly make a dent towards the principal balance and your total debt will continue to accrue interest. Before swiping your card for a large purchase, devise a plan to help you pay off the debt. You don’t want to make it a habit of carrying a balance month to month.
Making late payments
Your credit score is made up of several factors but the most important component is your payment history. Lenders look at payment history to determine if you’re responsible enough to repay your debts. Missing payments or making late payments can cause some serious damage to your credit score, resulting in you paying more in late fees and interest. If you’re having a difficult time paying your bills on time, try calling your creditors and ask for an extension or perhaps, set up automatic payments so you won’t forget.
Maxing out your credit limit
Keeping a low credit card balance is key to helping you stay out of debt and building a strong credit score. While payment history makes up about 35% of your score, your credit utilization ratio is almost just as important representing 30% of the credit score pie. Racking up a balance close to your credit limit is off putting to lenders who might consider you too reliant on credit and will be hesitant to lend because of the worry that you won’t be able to pay back what you borrowed.
Applying for too many credit cards
When you apply for a credit card, an inquiry shows up on your credit report. Too many credit card applications within a short period of time and you’ll see your score take a hit. Attempting to open multiple credit card accounts can appear suspicious to lenders and will most likely lead them to deny your application.
Taking out a cash advance
The name of the credit card game is to avoid as many fees as possible but when it comes to credit card cash advances, you can bet you’ll end up paying more than you borrowed. Unlike standard transactions, cash advances will accrue interest as soon as you’ve borrowed the cash and will come with no grace periods. On top of the convenience and ATM fees, cash advances also come with high interest rates, making this option a very risky financial move.
April highlights the need for effective financial education. Find out how you can win $50 this month for gaining financial confidence through interactive lessons for all ages.