As the holidays approach, gift cards remain a popular gift option, but they’re also a target for scammers. These fraudsters use tactics like phishing and tampering with physical gift cards to steal funds before they can be used. To protect yourself and your loved ones this season, it’s important to stay aware of these risks.
Having a well-stocked emergency fund is important. But so is saving for retirement. So how do you know which one to focus on? Well, we’ve got you covered. Here’s what you should know.
Halloween is a time for spooky fun, but it can also bring a scare to your wallet if you're not careful. From costumes to decorations and treats, the costs can add up quickly. Here’s how to manage your Halloween budget and keep your spending under control while still enjoying the festivities.
Now is the moment to turn your attention to your tax obligations. With less than 60 days remaining until the tax deadline now is a good time to prepare your documents and file.
Need a smart strategy to save on essential school supplies? Planning your dream vacation or gearing up for the holiday season? With a club account, you can save for essential school supplies, exciting vacations, and joyful holiday celebrations, making your financial goals more attainable and stress-free.
This type of insurance covers the “gap” between how much you owe on your auto loan and how much the car is currently worth if your automobile gets totaled.
For example*, imagine that you purchased a new car and took out a loan for $31,000. Unfortunately, after 2 years, your car is totaled in an accident. Based on your loan, this is how the math would work:
The gap between the $19,800 you owe and the $15,000 the insurance company pays you is $4,800! You still owe that much money to your lender and you don’t even have the car anymore.
This type of coverage is a great choice if you think you’ll ever be “upside down” on your car loan or lease, meaning you’ll owe more money than the car will be worth.
If you put little or no money down when financing your vehicle, or if you expect your car to depreciate quickly (ex: excess mileage), you are a great candidate for GAP insurance.
You could save several hundred dollars by getting GAP insurance directly through your auto insurance company instead of buying it from a car dealer when you purchase or lease your car.
Dealers often mark up the price of gap insurance, so you end up paying extra money with no additional benefit. Also, many dealers charge a flat rate of several hundred dollars up front for a GAP policy, but your insurance company will likely offer the option of monthly payments for comparable coverage.
Our members can save money on insurance with special discounts just for credit union members.
*These numbers are used as an example only and are hypothetical. Contact us directly for current rate information: visit mvcu.com or call 800-356-0067.
The insurance offered is not a deposit of the Credit Union, is not protected by NCUA or any other type of deposit insurance, is not an obligation of or guaranteed by the Credit Union and may be subject to risk.