USC Credit Union Blog

USC Credit Union Blog

How Can You Boost Your Credit Score?

Posted by Ivonet on Feb 5, 2016 3:22:14 PM

creditpic27.jpg

Advisors from GreenPath Financial and NerdWallets help us answer your questions.

Q: How can I boost my credit score? (My) credit score…has been stuck at 703 since March of 2015. I have checked my annual credit reports and there does not seem to be any fraudulent activity. I am 24 years old, work part-time (sadly still) and have no debt. Besides my rent, all of my bills are paid online automatically and I always have the money in my account to cover any bill. I live with a roommate so expenses are split. How can I increase my credit score?

Read More

Topics: credit & debt, credit score

All about IRAs

Posted by Cal on Jan 2, 2016 10:21:00 AM

 

USC Credit Union
Tom Tan
CFS* Financial Advisor
213-821-7269
TTan@cusonet.com
CA License No. OD83590

An individual retirement arrangement (IRA) is a personal retirement savings plan that offers specific tax benefits. In fact, IRAs are one of the most powerful retirement savings tools available to you. Even if you're contributing to a 401(k) or other plan at work, you should also consider investing in an IRA.6a00d8345157c669e201b7c76f6af0970b.jpg

What types of IRAs are available?

There are two major types of IRAs: traditional IRAs and Roth IRAs. Both allow you to make annual
contributions of up to $5,500 in 2016 (unchanged from 2015). Generally, you must have at least as
much taxable compensation as the amount of your IRA contribution. But if you are married filing jointly, your spouse can also contribute to an IRA, even if he or she does not have taxable compensation. The law also allows taxpayers age 50 and older to make additional "catch-up" contributions. These folks can put up to $6,500 in their IRAs in 2016 (unchanged from 2015).

Both traditional and Roth IRAs feature tax-sheltered growth of earnings. And both give you a wide range of investment choices. However, there are important differences between these two types of IRAs. You must understand these differences before you can choose the type of IRA that's best for you.

Read More

Topics: IRA, Traditional IRA, Roth IRA

2015 Black Friday Shopping Tips

Posted by Cal on Nov 18, 2015 11:00:00 AM

We all know Black Friday offers the best holiday season shopping deals, but they only come to those who are prepared and in the right place at the right time. Here are some tips to help you make the most of the sales and discounts so you get the most bang for your buck.

Read More

Topics: credit cards, credit, usc credit union, usc, shopping, black friday

7 Mistakes to Avoid When Refinancing a Car Loan

Posted by Cal on Apr 21, 2015 9:42:10 AM

girl_with_car_keys

If you’re a car owner, maybe you can relate to the “mid-loan crisis:” You’re halfway through paying off your car loan, but you’ve got some regrets about your financing and wish things could have turned out differently. It could be a less-than-ideal interest rate you’ve carried around for the last 36 months, forcing you to spread your dollars a bit too thin. Or, it could just be one of those auto loans where everything is wrong on every possible level, from unnecessary fees to bad warranties.

Read More

Topics: Auto financing

What Students Want From Financial Education

Posted by Cal on Apr 16, 2015 10:13:22 AM

DeathtoStock_NotStock5

By Katie Jimenez, a junior at West Albany High School

Read More

Topics: Students

It's Not Too Late To Cut Taxes: Open An IRA

Posted by Cal on Apr 14, 2015 4:09:00 PM

 

Read More

Topics: Retirement Planning

How to Plan the Ultimate Debt Payoff Strategy

Posted by Cal on Apr 7, 2015 9:32:44 AM

student_loan_debt_2

Debt can often have a negative connotation, but there are plenty of good reasons to have it – for example, using student loans to increase your earning potential, funding an entrepreneurial venture with a small business loan or going to the “Bank of Mom & Dad” to pay for a move across the country for a great job.

Read More

Topics: student debt

Buy Your First Home With Confidence

Posted by Cal on Apr 1, 2015 10:16:18 AM

How Does A Lender Determine If You Qualify For A Home Loan?

While lenders look at a lot of different information to determine whether you’ll qualify for a home loan, ultimately, it comes down to four things: credit, down payment, income and assets. If any of these areas are not as strong as they should be, don’t be discouraged. Your USC Credit Union home loan expert will provide you with the guidance you need to move to the next level.

hands-planting-flowers-in-garden

Read More

Topics: Home Buyers Guide

5 Ways To Trick Yourself Into Saving More And Spending Less

Posted by Cal on Mar 25, 2015 9:38:14 AM

How much you spend or save is a result of habit. That’s good news, because it means you can trick yourself into saving more. Here’s how.

5 Ways To Trick Yourself Into Saving More And Spend Less
You know that if you do enough abdominal crunches and jumping jacks, your stomach will get stronger and you’ll lose some weight.

According to psychology experts, the mind is just another muscle that works the same way. If you exercise the brain, you can strengthen your financial health, and lose some of that money-related anxiety.

We asked Ryan T. Howell, Ph.D, an Associate Professor in the Psychology Department at San Francisco State University and Co-founder of Beyond the Purchase, a think tank about how and why people spend money, to explain how you can use the power of the mind to trick yourself into buying less, paying down debt, and saving more.

Read More

Topics: spending

Saving Money for Something Big

Posted by Cal on Mar 18, 2015 11:46:43 AM

o-SAVING-MONEY-facebook

The process to amass a nice-sized savings account takes time dedication, patience and determination. When a member reaches a respectable savings amount, then comes the process of maintaining and growing it to an amount that didn’t seem possible at the start.

An April 2014 Gallup poll shows that 62% of Americans are enjoying saving more money than spending it. The current personal savings rate in the U.S. is 5.4% as of August 2014, according to the U.S. Bureau of Economic Analysis. Financial experts recommend saving 10 percent of your annual income for financial security.

While not everyone is able to maintain that level of savings, there are steps you can take to learn how to save money and to build a solid savings account.

Read More

Topics: savings

Welcome to our Blog!

We provide the tools to build a smart financial future.

At USC Credit Union we put financial success in your hands. It's your future. Own it.

Subscribe

Topics

see all

Follow Us