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Home > resources - presidents Corner It would be difficult to miss the newest developments in the credit card industry with the recent political changes surrounding credit lending institutions that will be implemented in the near future. The interest rates on credit cards have been rapidly rising, and the rates have been increasing faster than the price of gas. While some people have seen their credit card rates increase due to their lower credit ratings, others may have their credit rates increased even when they had perfect credit with that company or even on accounts that haven’t been recently used! Although the President and Congress have passed legislation aimed at keeping banks from inflating interest rates with little or no warning, these changes won’t be felt by the consumers for some time. As a HCCUA Member, you have a few financial advantages over other people caught in the credit dilemma. First, if you have taken the opportunity to join the credit unions on your HCCUA benefits plan, then you may already know that you are saving money. Credit Unions are owned by the members, and the profits are shared among the owners. This means that you, as a HCCUA Member, will be much less likely to have double digit inflation in credit rates that are experienced by people who have credit through banks. In addition, all HCCUA Members have the added benefit of the Financial Education and Credit Counseling program which provides personalized financial education and counseling 24 hours a day, 7 days a week. Members can participate in telephonic consultations with certified credit counselors, communicate through live chat sessions, and take Web based seminars. There is a plethora of online financial and educational tools and articles designed to inform, assist, educate, and alert the HCCUA Members in all areas of credit, money management, and budgeting techniques that can be accessed through this benefit. Maybe you are interested in buying your first house and you need more information about affordable mortgages, or maybe you want to refinance your current house. These topics can be conveniently discussed with a professional credit counselor from the privacy of your own home. This service for HCCUA Members includes the unique “Ask Susan” online counseling sessions where Members can receive personalized responses to their questions on loans, budgeting, credit reporting, dealing with debt, and many more topics. The certified credit counselors will be able to assist the HCCUA Members to develop and implement a livable personal budget, a comprehensive spending plan, and an action plan to become debt -free. They can also offer advice on how to deal with credit collection agencies and how to improve your credit rating. In these tough national financial times, you should feel special and cared for through your HCCUA Membership benefits. Please take the time to access your HCCUA benefits through the Financial Education and Credit Counseling program. With the help of your personalized credit counselor, by talking the time to attend a few online financial management courses, and through accessing the great advantages of your HCCUA credit union, you will be financially savvy and living with more income in the coming months. I wish you extraordinary financial success and happiness for your present and future life.
Sincerely, |
