The Top 5 Benefits Of Joining A Credit Union

The Credit Union National Association reports that over 96 million Americans belong to a credit union instead of, or in addition to, a traditional bank. 

With so many people jumping ship to credit unions, it makes sense to consider the benefits of becoming a member to one of the more than 6,000 credit unions in the United States. 

Keep these five benefits and advantages of credit unions in mind when making your decision whether to switch or not.

Better Service

Since credit unions are owned by their members, they focus on giving their members the services that they need at an affordable rate. 

As a member you’ll also have a say in how things are run. Banks are profit centers that focus on the bottom line and try to get as much money as they can from each customer. 

Belonging to a credit union gives you a better chance of receiving excellent service and speaking to a human as opposed to an automated system.

Lower Interest Rates

Credit unions typically have lower interest rates than banks. Since they are not-for-profit organizations, they can pass these savings onto their members. 

A lower interest rate amounts to thousands of dollars for a large loan for an automobile or home. Most credit unions also offer low-interest credit cards too.

No strings attached accounts

Most banks have a minimum balance or activity requirement for the account to remain open and in good standing. More than 75 percent of credit unions have no minimum balance requirement for members to avoid fees.

Fees are lower

Fees for the same services that a bank offers are cheaper at credit unions because their ultimate goal is to serve their members. 

You can check out different fees at sites like https://www.dfcu.com/ for more information on fees and customer service. Credit Unions like this have a bit more flexibility in how and what they charge their members. 

It’s more common for a credit union to reduce services than raise fees for its members. They do have to maintain some fees in order to remain federally regulated, but they’re still significantly lower than a traditional bank.

Shared branches and ATMS

Banks used to be able to boast that they were the only ones with a large network of ATMs for their members to use without incurring fees. 

That has changed with the co-operative network of credit unions allowing customers to use shared resources to avoid fees. Individuals can also go into other branches and conduct transactions in person regardless of where they are. 

Before joining a credit union, make sure that you know where the other branches and ATMs are located so that you are able to make the most of your membership.

It used to be difficult to join a credit union because they required you to work at a certain company or belong to a specific organization, but membership opportunities have spread vastly in the last few years. 

Many credit unions only have a residency in a certain town or county to join. Credit union membership continues to grow while distrust in banks spreads. It’s clear that a credit union is worth looking into for savings and other perks.

The Anatomy of Forex Trading Trends

Everything about trading on the forex market revolves around trends. Trend analysis is the number one tool that forex traders rely on to make smart investments, and every forex trading strategy out there is built upon inspecting, predicting, or finding trends.

But understanding exactly what a trend is, and how and why trnds form, is something that a lot of traders don’t have a firm grasp on. 

Trends have a specific anatomy, which can be thought of as either a set of inherent rules that they follow, or as a body that builds upon itself over the lifespan of the trend. 

Whatever visual works for you, there are steps that make up a trend, and understanding those steps can help traders get a better understanding of how to analyze trends.

Step One: Demand

The first part of a trend is imbalance. It occurs when a set of orders, that is greater than the orders currently driving trends, comes into the market. For example, let’s say that EUR/USD is currently in a downward trend. 

This means that right now, the market is defined by more sell orders than buy orders. If traders were to begin buying at higher rates than those selling, a new up trend is begun.

It doesn’t matter what time frame this occurs, or how often it occurs in a single day or week; every time a new trend happens, it is led by this initial phase of imbalance in demand.

Step Two: Cause and Effect

The moment that a new trend has begun, automated stop bids start kicking in. Traders start closing or opening trades based on the new information that is coming in. 

If the new trend was a down trend, the market will suddenly see liquidation, with losing trades closing. Any trader who had been trading based on previous trends will see a loss, and that gets the forex trading market moving again. 

As these traders react to the changes in the market, they propel the decline or rise in price even further by adding more buy or sell orders to the market.

This step is the hardest to predict, because it depends on how many traders had open trades that were relying on previous trends. It could take quite a while for the liquidation step to complete, or it could be done very quickly.

Step Three: Honing In

At this step, the forex trading market has now collectively noticed and catalogued the trend, and is honing in to begin trading on the new information. 

Buy or sell orders are placed based on the new trend, and that continues to drive the trend in its current direction. This step lasts as long as it takes for a new trend to begin. As soon as the demand is imbalanced again, a new trend will retire this one, and traders begin anew.

Using This Knowledge

As you can see, understanding the anatomy of forex trading trends isn’t as hard as it sounds, but it is vital information. 

While you can’t always predict how long a trend will last, you may be able to use your understanding of how trends work to anticipate a good entry or exit time. If step three has been reached, it may be time to stand back and start watching for the next trend, which could be just around the forex trading corner.

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Four Things You Should Know About Prepaid Debit Cards

According to a recent study by the Federal Reserve, the use of prepaid debit cards is the fastest growing noncash payment method in America. 

There are many different reasons for this phenomenon, including the desire of consumers to better manage their finances, their preference for carrying a card instead of cash for transactions, and the increase in costs to maintain a traditional checking account.

As simple as they may sound, prepaid debit cards are not created equally. There are hundreds of different cards to choose from, all possessing unique features, benefits, and costs. 

Before choosing a prepaid debit card, you should first understand four important points that could affect your decision.

Open and Fund Your Account

You must fill out a standard application to open an account. This includes providing personal information such as your social security number, date of birth, home address, and phone number. 

Unlike with a credit card, applicants generally aren’t required to have pristine credit. Some companies will approve an applicant as long as it can verify their identity. 

Part of the reason for identifying individuals is to allow them to link the card with their other banking accounts. 

Once linked, cardholders can transfer funds through their computer or smartphone easily and instantaneously. However, if you are one of the estimated 10 million households without a bank account, depositing funds will require a different solution.

If you are employed, many prepaid cards will allow you to have your paycheck directly applied to your account. Another solution is to physically deposit cash at a participating location. For example, Walmart offers a card that you can fund inside any of its locations. 

Understand the Costs

It is important to thoroughly examine the costs associated with each individual card. Unlike with credit cards, prepaid debit card issuers are not required to provide to users a simple fee chart. 

Instead, applicants must comb through the fine print to extract the true cost of opening an account.

The worst cards charge fees for things such as activation, usage, monthly statements, and overdraft. Avoid these cards like the plague. 

 It is best to stick with names that you know and trust. Once you have found a few, focus on how each card charges for the features that you value most.

Are Your Funds Protected

Prepaid debit cards do not share the same safeguards as traditional debit or credit cards. Card companies can voluntarily choose to protect consumers, but are not obligated. If your card is lost or stolen, there are no guarantees that you’ll be reimbursed. 

The current regulation is written in a manner that does not require prepaid card companies to offer victims of fraud the option to dispute a charge.

As mentioned before, it is best to stick with the names that you know and trust because many of them are opting to provide their cardholders with the same rights and protections as debit and credit card users.

If You Call, Will Anyone Pick Up

The quality of customer service provided by prepaid card companies can vary drastically. Some organizations will only allow you to leave a voicemail or send an email regarding questions or concerns; others may charge you a fee to speak with a live person. 

Companies like Tracy Rawle’s Check City, will often take the extra measure to keep you informed of your transaction usage through email or phone.


A prepaid debit card is an excellent alternative to owning a debit card or credit card. It comes without the cost of maintaining a bank account, can be obtained without excellent credit, and won’t put you in debt. 

The most important points to understand are the differences between the cards, and the specific costs associated with the features that you use most. 

5 Must-Know Steps to Financing a New Home

Applying for a loan is just one step of many involved in financing a new home. There are several other steps you should take before you sign your loan documents and decide on a lender. Let's look at five of those steps. 

Make a Budget

You don't want to leave it up to a bank officer to decide how much house you can afford. Instead of letting them tell you how much you're approved for and then finding a house that's within that range, you need to create a budget that shows you exactly what you spend each month on bills, groceries, fun, entertainment and miscellaneous expenses. 

Then, start adding in house payments, savings for repairs and maintenance, home and flood insurance, property taxes and revised utilities. 

Then start tweaking your other spending categories until you find a manageable amount for your house payment based on your income. This will give you a guideline for the total amount you can finance. 

Compare Rates

Homeowners need to focus on getting a monthly payment they can afford, but they also want to get a good interest rate in order to keep the overall cost of the house low. Compare rates with local banks, national lenders and credit unions until you find the best deal. 

Check Your Credit

Your credit report and FICO score is going to dictate how low an interest rate you qualify for. 

Before you get financing, check your report for any black marks against you and any incorrect information. Then, work to get your information corrected and your score improved. 

Get a Home Inspection

When you're financing a home, you're making a huge commitment that you're not going to be able to back out of without some devastating consequences. 

Getting a home inspection will not only prevent you from buying a home in bad condition, it can also give you leverage to negotiate the cost down. 

Finance as Little as Possible

When you finance your new home, you will have the option to make a low down payment and wrap your closing costs into the loan. This will essentially increase your loan amount, interest charges and the overall cost of the home.

Financing your home is one of the biggest financial steps you'll take in your entire life. Take on the process carefully and thoughtfully, consult with a professional from an agency like Florida Lifestyle Realty, and remember -- it's up to you to protect your own best interests, not the lender's.