Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Gentile Gives Savings Tips In FOXBusiness
WASHINGTON (3/8/13)--FOXBusiness turned to the Credit Union National Association to provide tips to consumers in an article Thursday on re-evaluating or creating a savings plan.

Paul Gentile, CUNA executive vice president, strategic communications and engagement, gave this advice in the article, "How to Create a Successful Savings Plan":

  • "No matter what, put something away each month. Do it automatically and forget about it. Then one day you'll wake up and be surprised by how much you have."
  • Refinance your mortgage since rates are so low. He noted the average rate consumers pay on mortgages is still around 7%, but rates have been below 4% for more than a year. The money saved should go directly into savings.
  • Try to get a lower interest rate on your car loan and apply the difference to savings. "We are seeing lending opening up a little bit more."
  • Call your telecom provider bill to try to get a reduction in your bill. "More often than not, you'll get off the phone with your carrier with a cheaper plan because they don't want you to turn to another provider."  He noted he received $40 off a $190 a month bill that way.
To read the entire article, use the link.
RSS print
News Now LiveWire
FHFA today announced it's extending comment deadline for guarantee fees Fannie, Freddie charge lenders to Sept. 8.
14 hours ago
The 2014 @CUwomen Forum was held in Gold Coast, Australia yesterday during @WOCCU 's World CU Conference.
17 hours ago
.@CFPB obtains $92M in debt relief from Colfax Capital Corp. http://t.co/QPZAeCAcy2 See also: http://t.co/Kjf4HHkINW
18 hours ago
Julian Castro was sworn in as 16th secretary of @HUDgov Dept. of Housing and Urban Development Mon.
19 hours ago
.@CUNA's Chief Economist @SchenkMike talks consumer confidence--at highest levels since 2007 w/ @TheStreet @JoeDeaux http://t.co/JyoYQmhAxc
19 hours ago