Madison Credit Union Blog

Which Type of Account Is Typically the Most Liquid – Liquidity vs Yield

Saving money is important, but you have to know what to do with it to build long-term wealth. There are many ways to grow your money, from savings accounts to physical assets.

Many people understand that investments are the best way to build wealth due to the potential yield they offer, but investing involves taking on a certain level of risk. If you decide to invest most of your savings, it’s a good idea to keep some liquid money aside that’s easily accessible when you need it. Continue reading Which Type of Account Is Typically the Most Liquid – Liquidity vs Yield

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Main Advantages and Disadvantages of High-Risk Loans – Our Guide

If you want to make a large purchase, such as a house or a car, chances are that you’ll seek a loan to cover the costs. If you have a few blemishes in your credit history, though, finding a lender to give you a loan can be challenging.

The good news is that even if you made a few credit mistakes in the past, there is still hope to secure a loan and attain your dream purchase. You would be considered a high-risk borrower and may therefore be eligible for high-risk personal loans. Continue reading Main Advantages and Disadvantages of High-Risk Loans – Our Guide

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What is a Consumer Loan and How Do They Work?

What is a Consumer Loan

Most adults will need a number of consumer loans throughout their lifetimes, even those who are considered wealthy. Few people have enough cash on hand to buy cars or homes outright; most of us need to work with a financial institution or lenders in order to pay for big purchases.

Consumer loans are a massive part of the financial industry in the U.S., and when managed properly they enable us to provide for our families—a loan may quite literally “put a roof over your head.” It can be a huge relief to see some money hit your checking account in a time of need. Continue reading What is a Consumer Loan and How Do They Work?

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The 3 Types of Credit and Why You May Want All of Them

Credit Card

When consumers think of credit, the first thing that comes to mind is usually a credit card. After all, approximately 70% of American households have a least one credit card, and most of us are accustomed to using them to cover some portion of our expenses.

Americans charge everything from modest grocery trips to tropical cruises on credit cards. Plus, having a solid credit history and credit score has become a necessity in the world today. Continue reading The 3 Types of Credit and Why You May Want All of Them

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How Long Does It Take to Get a Loan? Our Simple Guide

How Long Does It Take for a Loan

When it comes to needing a personal loan, most people need them quickly. If you are facing an unexpected expense that you cannot cover with savings, you need access to funds without delays caused by a tedious loan application process or an unnecessarily long review period from the lender. Continue reading How Long Does It Take to Get a Loan? Our Simple Guide

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Four Tips to Help You Manage Long Term Personal Loans

Manage Long Term Personal Loans

A personal loan can provide tremendous relief when facing burdens such as unexpected medical expenses, a job loss, a divorce, or any number of circumstances. If your loan application is successful, you may find yourself finally able to exhale after a long period of stress and worry. Continue reading Four Tips to Help You Manage Long Term Personal Loans

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Crunching the Numbers: Comparing Car Loans Before You Buy

If you’re in the market for a car loan, it’s essential to understand your options. From deposit amounts and loan terms to interest rates and fees, lots of factors can influence the availability and costs associated with auto loans. Whether you’re purchasing a new car from a vendor or buying a second-hand vehicle in a private sale, making smart decisions from the outset will help you to save money down the road. Continue reading Crunching the Numbers: Comparing Car Loans Before You Buy

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What is a Good Credit Score to Buy a Car – Here’s The Answer

Credit Score for Car Loan

When shopping for a new (or new to you) car, it is easy to get caught up in the excitement of four new wheels on the open road.

Perhaps you are looking at the convertible you have always dreamed of owning, or maybe you are simply upgrading your minivan after two toddlers wreaked havoc on your first one. Continue reading What is a Good Credit Score to Buy a Car – Here’s The Answer

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Credit Scores and Auto Loans — The Good, the Fair, and the Bad

Are you shopping around for a new car? Are you worried that your credit score will affect your borrowing options? A credit score is a simple number assigned to each person by one or more recognized credit bureaus. When you apply for a car loan or attempt to access any other kind of credit, this score is reviewed and analyzed by potential lenders. Continue reading Credit Scores and Auto Loans — The Good, the Fair, and the Bad

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