# LLM.txt - Website Content Structure # Generated: 2025-09-09T13:56:19.064Z # Source: https://www.brtelco.org --- ### Page: https://www.brtelco.org Title: Baton Rouge Telco FCU - Proudly serving Southeast Louisiana for more than 85 years Meta Description: Life is full of opportunities to say yes. We believe good banking should be the same. Language: en Canonical URL: https://www.brtelco.org ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Finding ways to say yes H1: to your H1: dream home. H1: sweet ride. H1: college plans. H1: next adventure. H1: best life. H1: dream home. H2: Proudly serving Southeast Louisiana for more than 85 years. H2: We're ready to meet you wherever you are... H2: The best save and spend bundle, only at BR Telco. H2: No Fees, plus big savings. H2: More rewards with every swipe. H2: Let’s make your dream home a reality. H2: Securely maximize your gains. H2: Talking Cents H3: What Is a Good APR for a Car Loan? H3: 8 Reasons Why You Should Open a Checking Account H3: Can You Direct Deposit Into a Savings Account? H2: What our members are saying... H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Finding ways to say yes H1: to your H1: dream home. H1: sweet ride. H1: college plans. H1: next adventure. H1: best life. H1: dream home. H2: Proudly serving Southeast Louisiana for more than 85 years. H2: We're ready to meet you wherever you are... H2: The best save and spend bundle, only at BR Telco. H2: No Fees, plus big savings. H2: More rewards with every swipe. H2: Let’s make your dream home a reality. H2: Securely maximize your gains. H4: Pair our new, high-yield Premier Savings account with our popular Premier Checking account to grow your money faster. H4: Pair our new, high-yield Premier Savings account with our popular Premier Checking account to grow your money faster. H2: Talking Cents H3: What Is a Good APR for a Car Loan? H3: 8 Reasons Why You Should Open a Checking Account H3: Can You Direct Deposit Into a Savings Account? H2: What our members are saying... H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. We’ve been helping Louisianians manage their money and achieve their financial goals since 1936. Today, we’re dedicated to providing that same personalized guidance, while constantly improving your digital access to services, so we can find even more ways to say “yes” to your dreams. Pair our new, high-yield Premier Savings account with our popular Premier Checking account to grow your money faster. 2APY = Annual Percentage Yield. Terms and conditions apply. Pay off your high-interest balances with our Visa Gold Credit Card with interest rates starting at: 1APR = Annual Percentage Rate Get unlimited cash back for every and any purchase with our Visa Cash Back Card with interest rates starting at: 1APR = Annual Percentage Rate From dream homes to investment properties: your perfect real estate solution starts here! 1APR = Annual Percentage Rate With a certificate of deposit, you’re in control of the investment term. The longer you save, the more you’ll earn! Rates as high as: 1APY = Annual Percentage Yield It sounds silly, but managing your finances without a checking account is a little like trying to operate a car without a dashboard. Many employers now offer direct deposit as a payroll option. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/styles Title: Styles Language: en Canonical URL: https://www.brtelco.org/styles ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Heading 1 H2: Heading 2 Bold H3: Heading 3 ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Heading 1 H2: Heading 2 Bold H3: Heading 3 H4: Heading 4 Blue H4: Heading 4 Green You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights Title: Talking Cents | Baton Rouge Telco FCU Meta Description: Blogs, tools, and tips for reaching your financial goals all brought to you for free by Baton Rouge Telco FCU. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Talking Cents H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Talking Cents H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. It sounds silly, but managing your finances without a checking account is a little like trying to operate a car without a dashboard. Many employers now offer direct deposit as a payroll option. Money market accounts and savings accounts are two popular options for saving and growing your money by earning interest. Every parent wants to help their child make a solid start in life financially, but what is the best way to save money for the future? With access to computers, the internet, and more, children are learning in new and innovative ways. Individual retirement accounts (IRAs) are popular investments that many use to grow their retirement nest eggs. Buying a house is exciting, especially as you begin to tour new places and eventually find what’s perfect for you. A savings account is a great way to save for something you want or need. If you want to refinance credit card debt, make a big purchase, do some home improvements, or start a small business of your own—you might be in the market for a personal loan. A certificate of deposit, also known as a CD, is a popular investment option if you’re wanting to upgrade from a typical savings account. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/who-we-are Title: About Us - Baton Rouge Telco Federal Credit Union Meta Description: Communication-driven Financial Growth. Experience the Telco difference with expert guidance, low fees, and convenient services. Join us today! Language: en Canonical URL: https://www.brtelco.org/who-we-are ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Powered by communication. Focused on growth. H2: The Credit Union Difference H2: What our members are saying... H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Powered by communication. Focused on growth. H2: The Credit Union Difference H2: What our members are saying... H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. We pride ourselves on staying connected with our members to better cater to their financial needs. This dedication to communication has allowed us to grow and evolve with our members’ ever-changing financial needs, expanding our services to include expert guidance at your fingertips, anytime/anywhere account access, free online and mobile banking tools, and more! Built for members, by members so you can enjoy competitive rates and lower fees. We believe that everyone deserves access to financial security. Five-star service & support from financial experts who’ll answer all of your questions. Federally insured by NCUA, EMV chip cards, 24/7 fraud monitoring. We’ve got you covered. FREE online & mobile tools, low-rate credit cards, high-rate checking, and more. Access more than 5,000 shared branching locations and 30,000 surcharge-free ATMs nationwide. Get to know us and see how we can help. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/community-involvement Title: Community Involvement - Baton Rouge Telco Federal Credit Union Meta Description: We are proud to serve the Baton Rouge, Denham Springs, and Hammond communities with more than just great financial services. We believe in giving back, creating a positive impact, and lifting up our local communities. Language: en Canonical URL: https://www.brtelco.org/community-involvement ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Investing in our H1: community's success. H2: As part of our community, we believe in giving back. H2: We’re volunteering to make a difference. H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Investing in our H1: community's success. H2: As part of our community, we believe in giving back. H2: We’re volunteering to make a difference. H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. We value community investment above all. Through our employee giving campaign, Telco employees have enthusiastically donated $35,000 to support OLOL Children's Hospital and St. Jude. Plus, they actively volunteer with various community organizations. Our employees generously dedicate their time to local charities, such as Habitat for Humanity, Junior Achievement's Finance Park, St. Vincent de Paul, Friends of Animals, Cat Haven, and other worthy causes. We proudly collaborate with local credit unions to host and sponsor the Baton Rouge Area Credit Union’s Charity Golf Tournament. This annual event has raised over $250,000 for Our Lady of the Lake's Children's Hospital in recent years. “​​Through the funds raised from their employee giving campaign, they are improving the lives of our inpatient kids with cancer and blood disorders. Their generosity will help further our mission of serving those in most need.” “​​The BRCAC is very grateful for the time, effort and generosity of the Telco team who works to raising funding and awareness to help child abuse victims in our community.  The success of the BRCAC achieving its mission for each victim is made possible by your amazing work." Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/careers Title: Careers & Credit Union Branch Jobs @ Baton Rouge Telco Federal Credit Union Meta Description: Join the credit union movement and love what you do and where you work. Click to see the current open positions at Telco. Language: en Canonical URL: https://www.brtelco.org/careers ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Embrace a Rewarding Future with Us H2: As part of our community, we believe in giving back. H2: We're a small team with BIG rewards. H2: Enjoy the benefits1 of working at Baton Rouge Telco H2: Open Positions H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Embrace a Rewarding Future with Us H2: As part of our community, we believe in giving back. H2: We're a small team with BIG rewards. H2: Enjoy the benefits1 of working at Baton Rouge Telco H2: Open Positions H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Be a proactive problem-solver. Always look for a solution. Take ownership over your actions and initiate personal growth. Embrace and drive change. Make it personal. Bring the energy. Celebrate each other! Communicate openly and honestly. Be patient and fair to all. Be a proactive problem-solver. Always look for a solution. Take ownership over your actions and initiate personal growth. Embrace and drive change. Make it personal. Bring the energy. Celebrate each other! Communicate openly and honestly. Be patient and fair to all. Employees throughout the credit union lend their time and financial support across the communities we live in and serve. From supporting local children’s hospitals and advocacy centers to other worthwhile causes like Habitat for Humanity, Junior Achievement's Finance Park, St. Vincent de Paul, Friends of Animals, and more. At Telco, we combine professional growth with a personal touch. From annual crawfish boils to a culture of promoting from within, we believe in supporting one another, working hard, celebrating our team's triumphs, and having fun. Join us for a fulfilling and enjoyable career! Vacation, sick-leave, personal days & holidays, including your birthday. Take advantage of our robust retirement plan. Medical, Dental, and Vision coverage for you and your family. Continue your education with up to $5,250 annually for tuition reimbursement. “Dress for your Day” dress code and 5 free branded shirts in your first year Generous incentive programs that reward your hard work We look for people who are enthusiastic about providing exceptional service to our members. If you have a positive attitude and share our Core Values, we would love to hear from you. Working at BR Telco is more than just a job, it is a career that offers many growth opportunities while also building lifelong friendships with my co-workers along the way. I am proud to be an employee at BR Telco. I love working at a family oriented credit union. I love that I get to meet new people daily. I get to help and educate young adults on how to manage their checking and savings accounts. Telco is a diverse institution that shares a growing and fun culture. We are active in the community and get the opportunity to volunteer. It’s definitely home away from home. Telco has been my home away from home now for 20 years. I knew the moment I walked into the branch, for my interview, that this is where I was meant to be. I love working with all of my co-workers and we are able to make it fun, while putting in the work. Telco is not only the best place to provide all of my financial needs, it is the best place to work and I couldn’t imagine being anywhere else! I love working at Telco! Between the amazing benefits and coworkers, I couldn’t imagine working anywhere else. Telco is truly my second family. I always have support with whatever challenges that arise and unlimited potential to move up the ladder. I haven’t felt this sense of community and support in any other job that I’ve ever had. Working at Telco, I feel like I’m part of a great team. 1Part-time employees may not be eligible for all listed benefit programs. We are an equal-opportunity employer and will not discriminate against any employee or applicant on the basis of age, color, disability, gender, national origin, race, religion, sexual orientation, veteran status, or any classification protected by federal, state, or local law. Understand your rights by clicking here.The Transparency in Coverage Rule (TCR or TiC) was released on Oct. 29, 2020, by the Department of Health and Human Services (HHS), the Department of Labor, and the Department of the Treasury and is part of the Consolidated Appropriations Act. The requirements in this rule are intended to give consumers increased transparency into healthcare pricing information through health plans. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/contact-us Title: Contact Us - Baton Rouge Telco Federal Credit Union Meta Description: Contacting Telco has never been easier. Choose from options such as email and text message but if you’re old school, you can call us directly. Language: en Canonical URL: https://www.brtelco.org/contact-us ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Contact Us H2: Our Digital Branch is Here for You H2: Send Us an Email H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Contact Us H2: Our Digital Branch is Here for You H2: Send Us an Email H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Enjoy the same level of service you receive at a branch from the convenience of your mobile device or computer. Whether you need help with your account, need to apply for a loan, or just ask a question, we’ve got you covered.Click on the “Yes! We’re here to help!” button in the bottom right corner of any page to  get in touch. If it’s after hours, don’t worry! You can leave a message and we’ll get back with you the next business day. Enter your number and we'll call you. For the texter in all of us. Speak through your computer Just us. Your video will be off. Our top priority is providing exceptional member service. Whenever you need assistance, we're here for you. Simply complete a brief contact form below or email us at memsrv@brtelco.org and we'll respond promptly. For security purposes, please refrain from including specific account details. If you have questions regarding your membership, please use our secure forms through online banking. Monday to Friday, 8:00 AM – 4:30 PM CST. After hours? Don’t worry! We’ll get back to you the next business day. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/locations-hours Title: Branch/ATM Locations & Hours - Baton Rouge Telco Federal Credit Union Meta Description: With four local branches in Baton Rouge, Denham Springs, and Hammond, Louisiana plus access to a network of more than 5,000 branches and 73,000 ATMs nationwide we’re always right around the corner when you need us. Language: en Canonical URL: https://www.brtelco.org/locations-hours ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Locations & Hours H2: Airline Office H2: Goodwood Office H2: Hammond Office H2: Watson Office H2: Holiday Closures H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Locations & Hours H2: Airline Office H2: Goodwood Office H2: Hammond Office H2: Watson Office H2: Holiday Closures H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. 13404 Airline HwyBaton Rouge, LA 70817 Main 225.924.8900Toll-Free 800.634.3044 Lobby Mon-Fri: 8:00am – 4:30pmDrive-Thru Mon-Fri: 8:00am – 5:00pm 8601 Goodwood BlvdBaton Rouge, LA 70806 Main 225.924.8900Toll-Free 800.634.3044 Lobby Mon-Fri: 8:00am – 4:30pmDrive-Thru Mon-Fri: 8:00am – 5:00pm 1115 W University AveHammond, LA 70401 Main 985.542.8086Toll-Free 800.634.3044 Lobby Mon-Fri: 8:00am – 4:30pmDrive-Thru Mon-Fri: 8:00am – 5:00pm 32839 LA Hwy 16Denham Springs, LA 70706 Main 225.924.8900Toll-Free 800.634.3044 Lobby Mon-Fri: 8:00am – 4:30pmDrive-Thru Mon-Fri: 8:00am – 5:00pm Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/faqs Title: Frequently Asked Questions (FAQs) - Baton Rouge Telco Federal Credit Union Meta Description: Have questions about our products or services? We can help. Check out our most frequently asked questions. Language: en Canonical URL: https://www.brtelco.org/faqs ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Frequently Asked Questions H2: General H2: Savings Accounts H2: Checking Accounts H2: Credit Cards H2: Loans H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Frequently Asked Questions H2: General H2: Savings Accounts H2: Checking Accounts H2: Credit Cards H2: Loans H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/member-reviews Title: Member Reviews - Baton Rouge Telco Federal Credit Union Meta Description: Find out what members are saying about Baton Rouge Telco Federal Credit Union. Read all of our reviews here. Language: en Canonical URL: https://www.brtelco.org/member-reviews ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Member Reviews H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Member Reviews H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Angela has been the absolute best. She has gone above and beyond for us while always answering our questions with the upmost respect. She is always dependable anytime I have to call or email her. Thank you, Angela! Angela has been the absolute best. She has gone above and beyond for us while always answering our questions with the upmost respect. She is always dependable anytime I have to call or email her. Thank you, Angela! Angela has been the absolute best. She has gone above and beyond for us while always answering our questions with the upmost respect. She is always dependable anytime I have to call or email her. Thank you, Angela! Angela has been the absolute best. She has gone above and beyond for us while always answering our questions with the upmost respect. She is always dependable anytime I have to call or email her. Thank you, Angela! Angela has been the absolute best. She has gone above and beyond for us while always answering our questions with the upmost respect. She is always dependable anytime I have to call or email her. Thank you, Angela! Angela has been the absolute best. She has gone above and beyond for us while always answering our questions with the upmost respect. She is always dependable anytime I have to call or email her. Thank you, Angela! Angela has been the absolute best. She has gone above and beyond for us while always answering our questions with the upmost respect. She is always dependable anytime I have to call or email her. Thank you, Angela! Angela has been the absolute best. She has gone above and beyond for us while always answering our questions with the upmost respect. She is always dependable anytime I have to call or email her. Thank you, Angela! Angela has been the absolute best. She has gone above and beyond for us while always answering our questions with the upmost respect. She is always dependable anytime I have to call or email her. Thank you, Angela! Angela has been the absolute best. She has gone above and beyond for us while always answering our questions with the upmost respect. She is always dependable anytime I have to call or email her. Thank you, Angela! Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/join-today Title: Join Our Credit Union Today - Baton Rouge Telco Federal Credit Union Meta Description: We love finding ways to say yes. Get to know us and see how we can help. Join today to experience the Baton Rouge Telco difference today. Language: en Canonical URL: https://www.brtelco.org/join-today ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Experience the Telco difference. H1: Personalized Service for All of Your Banking Needs H1: Join today to earn more & save more. H2: Exclusively at BR Telco. H2: Baton Rouge Telco Membership Details H3: Who can join? H1: Become a Baton Rouge Telco Member in 3 Easy Steps! H2: What our members are saying... H2: Banking That Works for You, Not for Profit H2: Baton Rouge Telco Membership FAQs H3: Have a Question? We’re Here to Help! H2: Proudly Serving Our Members and the Local Community H2: Bundle with Telco Today H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Experience the Telco difference. H1: Personalized Service for All of Your Banking Needs H1: Join today to earn more & save more. H2: Exclusively at BR Telco. H2: Baton Rouge Telco Membership Details H3: Who can join? H1: Become a Baton Rouge Telco Member in 3 Easy Steps! H2: What our members are saying... H2: Banking That Works for You, Not for Profit H2: Baton Rouge Telco Membership FAQs H3: Have a Question? We’re Here to Help! H2: Proudly Serving Our Members and the Local Community H2: Bundle with Telco Today H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Our low interest rates help you save on mortgages, auto loans, and other financing needs. Serving the needs of our member-owners is our top priority! We don’t have to worry about earning profits —we pass the savings on to our members! Accounts are federally insured by the NCUA for up to $250,000. When you pair Premier Savings with Premier Checking, you unlock our Premier, High-Yield Bundle. Our Premier High-Yield Bundle is designed to earn you more on regular day-to-day banking activities. Plus, it's a smart alternative to stashing cash in a certificate of deposit, keeping your money accessible while it's growing. Becoming a Baton Rouge Telco member is quick and easy! You can conveniently apply online, by phone, or by visiting a branch. Credit union membership requires opening a savings account with a $5 minimum balance. Do you live, work, or attend school in one of the following parishes? If you answered yes to either of these questions, you’re eligible! Parents, children, siblings, grandparents, grandchildren, stepparents, or stepchildren of Baton Rouge Telco members are also eligible to join. Ensure you live, work, or attend school in an eligible area. You’ll need a valid government-issued photo ID and your Social Security number. Click the button below, give us a call, or stop by a branch to apply for membership. Baton Rouge Telco is dedicated to helping members keep more of their hard-earned money while meeting all of their banking needs. With competitive rates on savings accounts, money market accounts, certificates, and IRAs, we make it easy to grow your money. Our flexible and affordable mortgages, auto loans, home equity loans, and other financing options help you get payments and terms that work for your budget. Whether you're saving for the future, managing daily expenses, or planning for a big purchase, we're a trusted partner for all of your banking needs. We offer a full range of banking services to simplify your finances and help you save, including: Take the first step toward better banking in Louisiana. Join Baton Rouge Telco today for banking that puts your needs first! We're a member-focused, not-for-profit financial institution committed to serving the local community. With competitive rates and personalized service, we're focused on helping our members save more and achieve their financial goals. We support local initiatives, partner with community organizations, and invest in programs that benefit our neighbors and the community. We're proud to help make Baton Rouge a stronger and more vibrant place for everyone to live and work. Get trusted advice to help you make informed decisions about your money. We offer free financial counseling to improve members' financial wellness, including guidance with budgeting, debt management, and planning for the future. Get started by filling out the quick form below to begin your application. Member Identification NoticeTo help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.What this means for you: When you open an account or apply for a loan, we will ask for your name, address, date of birth, and other identification that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/deposit-rates Title: Deposit Rates - Baton Rouge Telco Federal Credit Union Meta Description: View all of Baton Rouge Telco Federal Credit Union's deposit rates include, interest checking, certificates (CDs), savings accounts, and more! Language: en Canonical URL: https://www.brtelco.org/deposit-rates ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Deposit Rates H2: Checking Accounts H2: Savings Accounts H2: Certificates & IRA Certificates H2: Youth Accounts H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Deposit Rates H2: Checking Accounts H2: Savings Accounts H2: Certificates & IRA Certificates H2: Youth Accounts H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. *APY = Annual Percentage Yield. Dividend rates are subject to change without notice. Dividends are posted monthly based on the daily balance and compounded monthly. Baton Rouge Telco Federal Credit Union Share Certificate rates are variable rate accounts and are subject to change at any time. Rates are not guaranteed. Penalties for early withdrawals may apply. Fees may reduce earnings on the account. Monday to Friday, 8:00 – 4:30 PM CST. After hours? Don’t worry! We’ll get back to you the next business day. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/loan-rates Title: Loan Rates - Baton Rouge Telco Federal Credit Union Meta Description: View all of Baton Rouge Telco Federal Credit Union's loan rates including auto loans, mortgages, personal loans, credit cards, and more! Language: en Canonical URL: https://www.brtelco.org/loan-rates ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Loan Rates H2: Credit Cards1 H2: Auto Loans2 H2: Recreation Vehicles3 H2: Mortgage Rates4 H2: Home Equity Line of Credit5 H2: Personal Loans6 H2: Solutions Loan7 H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Loan Rates H2: Credit Cards1 H2: Auto Loans2 H2: Recreation Vehicles3 H2: Mortgage Rates4 H2: Home Equity Line of Credit5 H2: Personal Loans6 H2: Solutions Loan7 H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. *APR = Annual Percentage Rate. Rates are subject to change and depend on various factors including creditworthiness. Your rate may differ.‍1Quoted APR is Telco’s current rate. All rates, terms, and conditions are subject to change and are based on creditworthiness. Low minimum monthly payment of only 2% of balance or $10 (whichever is greater). Cash advance fee of $10.00 or 2% of the amount of each cash advance (whichever is greater). Overdraft Protection Fee: $5.00 per transfer — if you opted to use the LOC as a transfer source. Account Transfer Fee: $10.00 or 2%, whichever is greater, per transaction. This includes any transfer of funds from the LOC to an account, either in person or electronically.See our Visa Disclosure for additional information.APR rates for the Visa Gold Credit Card are determined by several factors, including your credit score, monthly income, and debt repayment history. Please contact your nearest Baton Rouge Telco branch to learn more.Cash Back Card rate is a variable rate tied to the prime rate and can be adjusted every year.‍2Rates and include a 0.50% discount for members with an automatic deduction from a Telco checking account and direct deposit relationship. Terms and conditions apply. Rates are subject to change and depend on various factors including creditworthiness. Your rate may differ. Maximum financing on all auto loans is 125%.Quoted rate of 5.99% APR for 60 months has payments per $1,000 equal to $19.33/month.Quoted rate of 6.49% APR for 72 months has payments per $1,000 equal to $16.81/month.Quoted rate of 6.74% APR for 84 months has payments per $1,000 equal to $14.97/month.Quoted rate of 7.49% APR for 60 months has payments per $1,000 equal to $20.03/month.Quoted rate of 8.49% APR for 60 months has payments per $1,000 equal to $20.51/month.‍3Rates and include a 0.50% discount for members with an automatic deduction from a Telco checking account and direct deposit relationship. Terms and conditions apply. Rates are subject to change and depend on various factors including creditworthiness. Your rate may differ.Both new and used motorcycles between the years 2021 and 2025 are eligible for up to 125% financing for terms of up to 60 months.‍4All rates, fees, and terms are subject to change, not guaranteed, and are based on credit qualifications and lending guidelines.‍5All rates, fees, and terms are subject to change, not guaranteed, and are based on credit qualifications and lending guidelines. $199 Processing Fee required.‍6Rates shown are Telco's current rates and includes a 0.50% discount for members with automatic deduction from a Telco checking account and direct deposit relationship. Terms and conditions apply. Rates are subject to change and depend on various factors including creditworthiness. Your rate may differ.PERSONAL LOANS‍Quoted rate of 9.99% APR for 12 months has payments per $1,000 equal to $87.91/month. Quoted rate of 11.99% APR for 60 months has payments per $1,000 equal to $22.24/month.‍SECURED PERSONAL LOANS‍~ Percentage above share certificate rate. Quoted rate of 2.99% APR for 36 months has payments per $1,000 equal to $29.08/month. Quoted rate of 3.49% APR for 36 months has payments per $1,000 equal to $29.30/month. Quoted rate of 7.79% APR for 36 months has payments per $1,000 equal to $31.24/month. Quoted rate of 8.49% APR for 84 months has payments per $1,000 equal to $15.83/month.‍7Quoted rate of 28.00% APR for 6 months has payments per $200 equal to $36.11/month.‍Additional details: Membership must be open at least 12 months to be eligible to apply. No minimum credit score. Credit report must show no open bankruptcy or foreclosure‍Requirements: Members must provide the following: Two recent pay stubs from current employer or proof of fixed income. Three (3) references. Payroll deduction is not required, but it is strongly encouraged. Members may only have one (1) Solutions Loan open at a time. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/search Title: Search Results Language: en Canonical URL: https://www.brtelco.org/search ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Search Results H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Search Results H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/calculators Title: Financial Calculators - Baton Rouge Telco Federal Credit Union Meta Description: Access free auto, mortgage, savings, retirement, and other financial calculators. Click to find the calculator you need now. Language: en Canonical URL: https://www.brtelco.org/calculators ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Calculators H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Calculators H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/make-a-loan-payment Title: Make a Loan Payment - Baton Rouge Telco Federal Credit Union Meta Description: Have questions about our products or services? We can help. Check out our most frequently asked questions. Language: en Canonical URL: https://www.brtelco.org/make-a-loan-payment ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Manage your monthly payments easily. H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Manage your monthly payments easily. H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. To set up one-time or recurring payments, simply click on Move Money. If paying from a Telco account, select Internal Transfers. To pay from an external account, select Pay Loan. To set up one-time or recurring payments, simply click on Move Money. If paying from a Telco account, select Make a Transfer. If paying from an external account, use the Loan Payment feature. Log in to Online Banking and click on Move Money, then Manage External Accounts. Simply click on +Add an Account and then complete account setup and verification to easily move money. Although paying your loans online has never been easier, we understand some want to kick it old school. You can mail in a payment, visit any location and pay in person, stop by a shared branch location, or call us (phone payment fees apply) at 225.924.8900.Send mail to:Baton Rouge Telco FCU32839 LA Hwy 16Denham Springs, LA 70706 Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/form-submission-thank-you/lead Title: Lead Meta Description: Have questions about our products or services? We can help. Check out our most frequently asked questions. Language: en Canonical URL: https://www.brtelco.org/form-submission-thank-you/lead ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Thank you for your interest. H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Thank you for your interest. H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/form-submission-thank-you/newsletter Title: Newsletter Meta Description: Have questions about our products or services? We can help. Check out our most frequently asked questions. Language: en Canonical URL: https://www.brtelco.org/form-submission-thank-you/newsletter ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Thank you for subscribing to our newsletter! H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Thank you for subscribing to our newsletter! H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/balance-transfer-form-test-delete-after-testing Title: Balance Transfer Form Test (Delete after Testing) Language: en Canonical URL: https://www.brtelco.org/balance-transfer-form-test-delete-after-testing ## Headings Structure: No headings found ## Main Content: No content extracted --- ### Page: https://www.brtelco.org/alerts/labor-day Title: Green - Closed For Labor Day - Baton Rouge Telco Federal Credit Union Meta Description: All branches will be closed on Monday, September 1st, for Labor Day. Please use Mobile or Online Banking to manage your accounts. Language: en Canonical URL: https://www.brtelco.org/alerts/labor-day ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Green - Closed For Labor Day H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Green - Closed For Labor Day H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/special-offers/q2-premier-savings-2025 Title: A new, better way to save. - Baton Rouge Telco Federal Credit Union Meta Description: Start saving for the future with our flexible savings accounts. Open an account today to grow your money with a competitive rate and no fees! Language: en Canonical URL: https://www.brtelco.org/special-offers/q2-premier-savings-2025 ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Q2-Premier Savings-2025 H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Q2-Premier Savings-2025 H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Boost your earnings with our Premier Bundle: - 5.55% APY on checking - 4.00 APY on savings Qualifying is easy - enroll in eStatements, set up direct deposit, and make 15 debit card purchases each month. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/7-first-time-home-buyer-tips-to-save-you-money Title: 7 First-Time Home Buyer Tips to Save You Money - Baton Rouge Telco Federal Credit Union Meta Description: A successful home buying experience is all about getting the details right from start to finish. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/7-first-time-home-buyer-tips-to-save-you-money ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: 7 First-Time Home Buyer Tips to Save You Money H2: 1. Perform a Credit Checkup H2: 2. Get Pre-Approved H2: 3. Stick to Your Budget H2: 4. Know Your Mortgage Options H3: Conventional H3: Government-Backed Loans H2: 5. Understand Loan-To-Value (LTV) Ratio H2: 6. Consider the Importance of a Down Payment H2: 7. Pay Attention to Interest Rates H2: First-Time Home Buyer Tips Arm You With Buying Power H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: 7 First-Time Home Buyer Tips to Save You Money H2: 1. Perform a Credit Checkup H2: 2. Get Pre-Approved H2: 3. Stick to Your Budget H2: 4. Know Your Mortgage Options H3: Conventional H3: Government-Backed Loans H2: 5. Understand Loan-To-Value (LTV) Ratio H2: 6. Consider the Importance of a Down Payment H2: 7. Pay Attention to Interest Rates H2: First-Time Home Buyer Tips Arm You With Buying Power H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. A successful home buying experience is all about getting the details right from start to finish. A successful home buying experience is all about getting the details right from start to finish. Like any big project, having your research done before starting can make a difference in the long run! Read on for the first-time home buyer tips you need to help navigate the process, save money, and close the deal. Before applying, give your credit health a checkup. Verify there are no errors on your report or recent derogatory items like late payments. You can get free copies of your credit report from each of the three credit bureaus, Experian, Equifax, and TransUnion. Avoid applying for new credit in the few months leading up to your mortgage application. Good credit history is reflective of a strong credit score which qualifies you for the most competitive mortgage loan rates. Continue to pay all your bills on time, and keep credit card balances as low as possible. Don’t close any active cards as this can reduce your available credit which can lower your overall score. If you want the most accurate picture of what you can qualify for as a first-time home buyer, get a pre-approval letter. Since pre-approvals require documentation, they’re typically the best indicator of whether you’ll qualify for a home loan or not and for how much. Getting pre-approved could help you stand out from other buyers. If multiple offers are on the table, sellers will often choose a pre-approved buyer. This indicates you’re more likely to be approved for financing (and ultimately follow through with the deal). Mortgage lenders calculate your current debt based on how much money you make. This is known as your debt-to-income (DTI) ratio. The most important ratio referenced by most lenders is your front-end and back-end ratios. Your front-end ratio is calculated by taking your proposed housing expense divided by your gross, pre-tax income. Keeping this percentage right around 28% is the most competitive, offering you the best options as a homebuyer. The back-end ratio involves all your current loan payments – including housing expenses and monthly debts (but not utilities or other living expenses) divided by your gross monthly income. Keeping this number near 36% ensures you won’t be stretching limits by buying a new home. There are many types of mortgage loans available so take the time to dig into your options. Remember to find what works best for your situation. Get in the know by taking a look at some of the most popular options: These loans are your match if you have a strong credit history, stable employment history, minimal debt, and enough funds to put down at least 3%. They’re used to finance most properties including primary residences, vacation homes, or investment properties. Due to being well qualified, your overall borrowing costs tend to be lower than other types of mortgages, even if interest rates are slightly higher. The U.S. government isn’t a mortgage lender, but it does play a role in helping more Americans become homeowners. These loans are protected by mortgage insurance making it easier to offer more flexibility for qualifying. Some examples of government-backed loans include the Federal Housing Administration (FHA loans), the U.S. Department of Agriculture (USDA loans), and the U.S. Department of Veterans Affairs (VA loans). These loans typically have lower down payments and more flexibility in the qualification process. Curious about how various mortgage loans compare? Click here! A loan-to-value ratio, or LTV ratio, is a key factor in determining your ability to qualify for a mortgage and how much home you can afford. The LTV ratio represents the amount of your mortgage divided by the value of the home you’re planning to buy. This is important because lenders want to be confident in the fact you’ll be able to fully repay the loan. This ratio is the most limiting factor on the price of a home you can purchase. This is how much you expect to put down or contribute to the purchase of your home. Whatever you don’t put down will likely have to be financed. Your down payment plays a big part in determining how much home you can afford. The more money you put down, the more home you can afford to buy. If you don’t have a lot of money saved, you could still get a mortgage with little-to-no money down; it would just decrease the amount of house you could afford. You can use money from savings, investments, or other sources to make up your down payment. At Baton Rouge Telco, we offer first-time home buyers a promotion of no Private Mortgage Insurance (PMI) with a 10% down payment instead of the traditional 20%. Think of interest as the price you pay for using someone else’s money until you pay it back. More specifically, your mortgage rate is what it costs each year to borrow the money shown as a percentage. Generally, the amount of interest you pay every month is added to the amount still owed on a loan, also known as the principal in which you repay monthly. Fixed interest rates stay the same for the entire length of your mortgage loan. This offers a predictable payment each month and makes budgeting easier. An adjustable-rate mortgage (ARM) uses a rate that varies based upon the market. Therefore, the monthly payment may change over time as your interest rate increases or decreases along with market trends. We understand qualifying for a mortgage is a unique process as it looks different for everyone. Our team is ready to help you throughout every phase of your home buying journey. Keep these first-time home buyer tips handy as you start your search and click below to learn about a common fee you may find on your next mortgage. What is a Mortgage Origination Fee? Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/7-types-of-mortgage-loans-you-should-know Title: 7 Types of Mortgage Loans You Should Know - Baton Rouge Telco Federal Credit Union Meta Description: When you’re buying a home, there’s a variety of types of mortgage loans from which to choose. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/7-types-of-mortgage-loans-you-should-know ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: 7 Types of Mortgage Loans You Should Know H2: Conventional H2: Jumbo H2: Adjustable-Rate (ARMs) vs. Fixed-Rate H2: Government-Backed H3: FHA H3: VA H2: Home Loans for Heroes and Experts Program H2: Choosing the Best Type of Mortgage Loan with Help from Baton Rouge Telco! H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: 7 Types of Mortgage Loans You Should Know H2: Conventional H2: Jumbo H2: Adjustable-Rate (ARMs) vs. Fixed-Rate H2: Government-Backed H3: FHA H3: VA H2: Home Loans for Heroes and Experts Program H2: Choosing the Best Type of Mortgage Loan with Help from Baton Rouge Telco! H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. When you’re buying a home, there’s a variety of types of mortgage loans from which to choose. When you’re buying a home, there’s a variety of types of mortgage loans from which to choose. Paying attention to your monthly budget, down payment amount, and credit score offers the clearest picture of the loan that would work most for you. Deciding the type of mortgage to fit your needs is much easier if you have a breakdown of features and how each works. Read below for details on some of the most common types of mortgages, how to qualify for each and why it could be the best choice. Choose conventional mortgage loans if you have a strong credit history, stable employment history, minimal debt, and enough funds to put down at least 5% – 20%. At Baton Rouge Telco, this type of mortgage loan can be used to finance new home purchases, land purchases, 1st and 2nd mortgage refinancing with cash-out options, and home equity lines of credit (HELOC). We do not offer loans for mobile homes, condominiums (townhomes are acceptable), or investment properties. Conventional fixed-rate mortgages are among the most common types of mortgage loans. These allow you to secure a fixed rate for 15, 20, and 30-year loan programs. There are often fewer closing costs, flexible monthly payment terms, and no mortgage insurance with a 20% down payment or more. Jumbo loans are conventional types of mortgages that have non-conforming loan limits. This means the home price exceeds federal loan limits. Choosing a jumbo loan with Baton Rouge Telco enables you to expect savings at closing with capped origination fees since most jumbo loans exceed $400,000. These loans are more common in higher-cost areas and usually require more in-depth documentation to qualify. Securing a jumbo loan makes the most sense if you’re looking to finance a high-end home. You’ll want to have excellent credit, a high income, and a significant down payment. As a reminder, a jumbo loan is determined solely by how much financing you need, not by the purchase price of the property. Fixed-rate mortgages keep the same interest rate over the life of your loan. This means your monthly mortgage payment always stays the same. Consider this a major benefit if you’re sticking to a strict budget and planning to stay in your home longer than 10 years. ARMs have variable interest rates. These loans come with a lower, introductory rate at the beginning of the loan term. Once that expires, the rates adjust according to current market rates. You should be comfortable with a certain level of risk when choosing this type of loan. If you don’t plan to stay in your home beyond a few years, an ARM can save you a good amount of money on interest payments. The U.S. government isn’t a mortgage lender, but it does play a role in helping more Americans become homeowners. These loans are protected by mortgage insurance making it easier to offer more flexibility for qualifying. Baton Rouge Telco offers two types of government-backed loans: the Federal Housing Administration (FHA loans) and the U.S. Department of Veterans Affairs (VA loans). FHA loans are backed by the Federal Housing Administration. They’re a great option if you prefer a smaller down payment and have a lower credit score. FHA loans are indeed ideal for someone purchasing their first home. However, FHA loans are available to any buyer seeking a government-backed mortgage whether or not you’re a first-timer. Homebuyers seeking this type of mortgage loan typically have an easier time with flexibility in qualifying as well. Advantages of FHA loans include lower down payments, flexible eligibility requirements, and lower monthly payments. VA loans provide flexible, low-interest mortgages if you’re a member of the U.S. military (active duty or veteran) and include your family. They don’t require a down payment and closing costs may be paid by the seller. A funding fee is charged on VA loans as a percentage of the loan amount to help offset the program’s cost to taxpayers. This fee, as well as other closing costs, can be rolled into most VA loans or paid upfront at closing. No mortgage insurance is required with VA loans and gifts are accepted toward closing costs. This type of mortgage loan tends to offer the best terms and most flexibility compared to other loan types if you’re qualified. Our Home Loans for Heroes & Experts Program is just our way of saying thanks for the good you do for our country and local communities. Our Community Heroes’ professions include teachers, fire department, law enforcement, nurses, EMTs, and active or former military. Additionally, this program includes low down payment options and up to 99% financing. Baton Rouge Telco members with select professional designations including CPAs, CFAs, PhDs, Architects, and Actuaries can qualify for this program as well. No down-payment is required and we provide 100% financing. Both programs offer fixed-rate for 30 years and no prepayment penalty. You must meet all employment eligibility requirements to take advantage of these programs. Our team is ready to guide you throughout every phase of the home buying process. We handle everything locally — meaning fast approvals and even faster closings for you! Qualifying for a mortgage is a unique process as it looks different for everyone. Click below for first-time home buyer tips as you start your search. 7 First-Time Home Buyer Tips Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/8-reasons-you-should-open-checking-account Title: 8 Reasons Why You Should Open a Checking Account - Baton Rouge Telco Federal Credit Union Meta Description: It sounds silly, but managing your finances without a checking account is a little like trying to operate a car without a dashboard. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/8-reasons-you-should-open-checking-account ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: 8 Reasons Why You Should Open a Checking Account H2: Take Charge: 8 Reasons to Open a Checking Account H3: 1. Receive Money H3: 2. Make Payments Easily H3: 3. Keep Your Money Safe H3: 4. Track Your Spending H3: 5. Bank on the Go H3: 6. Earn Rewards H3: 7. Build Working Capital H3: 8. Financial Gateway H2: What to Consider When Opening a Checking Account H3: Deposit Insurance H3: Minimum Opening Deposit H3: Minimum Balance H3: Monthly Fees H3: ATM Access H3: Interest Rate H2: Ready to Open Yours? H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: 8 Reasons Why You Should Open a Checking Account H2: Take Charge: 8 Reasons to Open a Checking Account H3: 1. Receive Money H3: 2. Make Payments Easily H3: 3. Keep Your Money Safe H3: 4. Track Your Spending H3: 5. Bank on the Go H3: 6. Earn Rewards H3: 7. Build Working Capital H3: 8. Financial Gateway H2: What to Consider When Opening a Checking Account H3: Deposit Insurance H3: Minimum Opening Deposit H3: Minimum Balance H3: Monthly Fees H3: ATM Access H3: Interest Rate H2: Ready to Open Yours? H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. It sounds silly, but managing your finances without a checking account is a little like trying to operate a car without a dashboard. It sounds silly, but managing your finances without a checking account is a little like trying to operate a car without a dashboard. While it might still be possible to monitor engine performance and speed while turning the wheel, adjusting the gears, and operating the brakes—it’s a lot easier, safer, and more practical when all the tools and controls you need are brought together in one place. Below we take a look at some of the top reasons why opening a checking account will help put you in the driving seat of your financial life. Everyone says it’s essential to open a checking account, but not everyone takes the time to explain why. If you’re more comfortable using cash or stand-alone credit cards, or you’ve simply wondered why you need anything more than a savings account, this article is for you. What is a checking account? At its most basic it’s a clearing house: a financial bus depot where incoming money waits to be sent where it’s needed. But, having all your money in one place comes with many other advantages, not least of which is that you can see all of your finances in one place. Let’s break down the things that set a checking account apart and that makes it the single most important tool to manage your money. Unlike a savings account, a checking account gives you a financial mailbox where you can arrange to have money sent in the form of direct deposits. Having direct deposit access allows the money you are owed to be safely deposited into your checking account. You don’t have to worry about a check going missing in the mail or losing your cash. Everything happens automatically, safely, and securely. You can gain access to your paycheck funds, your IRS tax refund, or even a settlement quickly and easily—in most cases, without having to do anything at all. A checking account also allows you to quickly deposit checks you are given without the check cashing fees you’d otherwise have to pay. You can deposit checks at your convenience using your bank’s mobile app with the funds often being credited to your account quickly. Your checking account usually comes with a linked debit card. You can use this to make payments on the spot, get cash out of ATMs, or get cash back from merchants. Your debit card also allows you to pay for goods and services online while enjoying the protection of your funds in the case of fraud or identity theft. It’s like carrying all the cash you need with you—with none of the risks. You can use your checking account number and bank routing number to set up automatic debits to merchants and vendors, pay bills online, or schedule regular monthly payments. Most accounts also allow you to write checks. Yup, there’s a reason it’s called a checking account! When you operate with cash alone, there is no protection for your money. If it’s lost or stolen, you’re out of luck. If you’re like most people, you simply can’t afford to operate without any financial protection. Another benefit of a checking account is that the money is protected by the Federal Deposit Insurance Corporation for banks or the National Credit Union Association for credit unions. These federal organizations protect your funds for up to $250,000 per account even if your bank or credit union goes out of business. Federal law also protects you against unauthorized account transactions or bank errors. Provided you report them promptly, your bank or credit union is required to reimburse you. And, unlike cash, your statement gives you written proof of payment of any transaction. Using a checking account gives you a record of your purchases. You can review your spending to determine trends with your expenses. This information is helpful when you’re trying to figure out how to improve your money habits or when you want to review your budget. Unless you keep an accurate log of your cash spending, it’s difficult to know precisely how much money is going out each month. But by automating a record of your spending habits, your checking account provides an easy way to track your finances. If you have access to a smartphone, computer, or tablet, you can manage and complete many of your financial tasks using online or mobile banking. You can: You can also often use your online banking tools to set text or email alerts to let you know when your debit card is used or your account balance passes a certain threshold. Many checking accounts are now offering rewards similar to savings accounts and credit cards. This could be a cash bonus when you open an account or keep a required balance in your account for a set period. Some banks and credit unions also offer you access to discounts on local events and services. Additionally, checking accounts are beginning to pay interest rates at least comparable with those you earn on your savings account. A checking account also gives you a place to build up a store of money to ensure you can cover your monthly expenses without relying directly on your monthly paycheck. This working capital gives you the ability to weather unexpected expenses or unforeseen falls in income. It’s the start of real financial security. Many financial experts recommend aiming to save money equivalent to at least two months’ expenses in your checking account to cover unexpected fluctuations in your month-to-month costs and expenses. Choosing a checking account that allows you to earn a good rate of interest on your working capital is a great start. Your checking account is also the gateway to a range of other banking products. By trusting a bank or a local credit union like Baton Rouge Telco to take care of your funds, you’re starting a long-term financial relationship that gives you access to: Now that we know what a checking account can do for you, let’s take a look at what you should look for when choosing a place to stash your working cash. Here are a few things to keep in mind. First up, be sure funds deposited with your bank or credit union are backed by the FDIC or NCUA. The majority of institutions are, but it’s an important box to check to ensure your money will be able to grow risk-free. Baton Rouge Telco is a fully NCUA-insured credit union with deposits guaranteed up to $250,000 per account. Look for an account with a low opening balance requirement. Unless a checking account offers a very high interest rate or some other special feature, it should not cost you much to open one. At Baton Rouge Telco we make accessing the financial services you need easy with a minimum opening deposit of just $5. Your minimum balance is the smallest deposit that you need in your account to keep it open. Some checking accounts will charge a fee, downgrade your account, or close it if you don’t maintain your minimum balance. Many checking accounts will charge a flat monthly or annual fee to maintain your account or will levy a charge if your account balance is below a certain level. At Baton Rouge Telco we don’t do that. As a member-owned credit union, we want to help you keep as much money in your account as possible by keeping checking expenses as low as we can. Be sure to check how many ATMs in your area your debit card will have access to, along with any associated fees that might be charged. At Baton Rouge Telco, you have access to more than 73,000 fee-free ATMs nationwide. That means wherever you go in the U.S., you should be close to an ATM that lets you gain access to your funds for free. Not all checking accounts pay interest, and the annual percentage yield (APY) offered by an account will change over time in line with market conditions. Many also pay interest or dividends only on deposits over a certain threshold. Choose a checking account with a rate that makes sense for your budget. You should earn as much interest as you can for the money you keep in your account over time. Having a checking account sets you up for financial success. Being able to access your money quicker, pay for things easily in person or online, withdraw cash, and bank online puts you in the driving seat of your financial life. At Baton Rouge Telco, we offer checking accounts designed for people in different stages of their financial journey including: In addition, all of our checking accounts offer: We also offer an innovative student checking account to help younger members take charge of their money early. Contact us today to find out about the right Baton Rouge Telco account for your needs or click below to learn more. Open a Checking Account Online Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/applying-for-visa-credit-cards-online Title: Applying For Visa Credit Cards Online - Baton Rouge Telco Federal Credit Union Meta Description: Visa credit cards are not only one of the most widely accepted credit card brands available. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/applying-for-visa-credit-cards-online ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Applying For Visa Credit Cards Online H2: The Visa Credit Card Online Application Process H2: Benefits of a Visa Credit Card H3: Widely accepted H3: Connections between accounts H3: Online access, 24/7 H3: Perks and rewards H2: Types of Visa Credit Cards from Baton Rouge Relco H3: Visa Gold H3: Visa Cash Back H3: Visa Secured H2: Apply Online Today for a Visa Credit Card H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Applying For Visa Credit Cards Online H2: The Visa Credit Card Online Application Process H2: Benefits of a Visa Credit Card H3: Widely accepted H3: Connections between accounts H3: Online access, 24/7 H3: Perks and rewards H2: Types of Visa Credit Cards from Baton Rouge Relco H3: Visa Gold H3: Visa Cash Back H3: Visa Secured H2: Apply Online Today for a Visa Credit Card H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Visa credit cards are not only one of the most widely accepted credit card brands available. Visa credit cards are not only one of the most widely accepted credit card brands available. They also have many great benefits that can help you build and improve your finances. Nowadays, you don’t even have to be present in person to apply for a credit card. The online application process is streamlined to get a new credit card in your hand as quickly as possible. To help you understand how the credit card application process works, the documents you need to provide, and how long it will take, we’ve created this guide. Regardless of the type of credit card you choose, the online application process is the same. To apply for a Visa credit card online through Baton Rouge Telco, you need to be a member. However, the process of becoming a member is straightforward and simple! You can become a member by providing some personal information through our online application. There is no fee to become a member, but we will hold a $5 deposit for the life of the membership. Being a member also comes with incredible benefits. These include access to our competitive rates on loans, excellent customer service, and easy access to your accounts. After becoming a member, you can complete the online credit card application. You’ll need to provide your name, address, social security number, income, and monthly household expenses. After you complete the form, you will usually receive a response within 24-48 hours. You can check on the status of your application by contacting us online, in person, or by phone. Once your application is processed, you will receive information about the APR for which you qualified. This is determined by several factors regarding your financial situation. These include your credit history and monthly income. When you are approved, you can use your card right away! Simply visit a branch and have a credit card issued instantly. There are many benefits to choosing a Visa credit card. Here are just a few: Visa cards are one of the most widely accepted credit card brands on the market. This means you’re far less likely to run into a scenario where you’ll need to withdraw cash or find an alternative method of payment. This can be a huge benefit, especially when traveling. If you get a Visa credit card through your local credit union, you can link all your accounts, making it quick and simple to manage your payments. This can help protect your credit score by making it simple to stay on top of your credit card payments. Additionally, you can use your Visa card with Apple Pay, linking your mobile device to your card and making payments all the easier. This enables you to keep your cards separate from your person, reducing the risk of theft and fraud. Baton Rouge Telco’s Visa cards enable you to manage them online at any time. Stay on top of your spending with nonstop access to your accounts. Depending on the type of card you get, Visa offers competitive rewards. For example, our cash-back cards provide 2% unlimited cash back. We offer several different types of credit cards, each with its own perks. Our Visa Gold card is an excellent option for consumers who want the lowest interest rates available. This is particularly useful if you’re interested in transferring debt from a higher APR credit card. With APR as low as 7.90% and $0 balance transfer fees, you can start your path to getting your debt under control today. Visa Cash Back cards offer 2% unlimited cash back on all purchases. These are a great option for consumers who are looking to earn money just by spending. With a starting APR of 9.24%, the rate is slightly higher than our Visa Gold card, but still significantly lower than rates on national rewards credit cards. Finally, our Visa Secured card is our best option for those who are new to building or repairing their credit. Secured cards require a deposit which is used as your credit limit. These cards are easier to get approved for, and they can be a great tool to help you build your finances. If you’re ready to embark on the journey of being a credit card holder, look no further than Baton Rouge Telco. With our excellent customer service and competitive rates, we are here to help you through the process. We have online customer service chat tools available to assist you at any stage of the process. And our not-for-profit status means that we have our member’s best interests in mind. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/are-personal-loans-a-bad-idea Title: Are Personal Loans a Bad Idea? - Baton Rouge Telco Federal Credit Union Meta Description: Lenders offer personal loans as a handy way to finance major purchases or fund travel, pay for weddings, or cover unexpected medical expenses. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/are-personal-loans-a-bad-idea ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Are Personal Loans a Bad Idea? H2: What Are Personal Loans? H2: What Are the Risks of Taking a Personal Loan? H2: Being Smart About Personal Debt H2: Managing a Personal Loan Responsibly H3: Make a Budget H3: Understand the Terms and Conditions H3: Know How Long You Have to Pay Off Your Loan H3: Know When Your Payment Is Due H3: Communicate With Your Lender H3: Pay Off in Advance H3: Stay on Course H2: Are Personal Loans Bad? Let Baton Rouge Telco Help Make Personal Loans Work for You H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Are Personal Loans a Bad Idea? H2: What Are Personal Loans? H2: What Are the Risks of Taking a Personal Loan? H2: Being Smart About Personal Debt H2: Managing a Personal Loan Responsibly H3: Make a Budget H3: Understand the Terms and Conditions H3: Know How Long You Have to Pay Off Your Loan H3: Know When Your Payment Is Due H3: Communicate With Your Lender H3: Pay Off in Advance H3: Stay on Course H2: Are Personal Loans Bad? Let Baton Rouge Telco Help Make Personal Loans Work for You H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Lenders offer personal loans as a handy way to finance major purchases or fund travel, pay for weddings, or cover unexpected medical expenses. Lenders offer personal loans as a handy way to finance major purchases or fund travel, pay for weddings, or cover unexpected medical expenses. If not handled carefully, personal loan debt can quickly build up, damaging your credit. But, if used responsibly, they also offer a relatively easy way to improve your credit score! So are personal loans a bad idea? Let’s take a look at how they work. Personal loans are fixed or adjustable-rate loans offered by banks and credit unions and are commonly used to fund large purchases, cover unexpected expenses, or consolidate debt. Unlike home or auto loans, personal loans are unsecured. Qualifying buyers are paid a single lump sum that must be repaid in installments over terms from a few months to several years. Personal loans generally have rates lower than credit cards but higher than secured loans such as home equity lines of credit or auto loans. Borrowers can incur additional fees if they do not repay on time and risk having their unpaid loan handed over to a collection agency that will charge high rates until the loan is paid off. Late payments or defaults or an excessive balance on a personal loan can negatively affect your credit score. Read More: Secured vs. Unsecured Personal Loans At the same time, personal loans also offer a way to improve your credit score — if used responsibly. If you are planning to borrow money for a major investment — such as a car or home — you may find that your credit score is being lowered because your credit utilization is too high. Usually, this means you already have too much outstanding debt relative to your salary, even if you can repay it all on time. Often this takes the form of credit card debt. Personal loans offer a relatively easy way to consolidate debt using a single lump payout.  While you will still need to pass a credit check and your interest rate may be higher because of your existing debts, you will still qualify for a rate well below credit card interest and without the risk of borrowing against your boat, car, or another secured asset. And, with your debts consolidated in one place at a lower rate, your credit utilization rate is set to improve, too. It all comes down to being responsible about your borrowing. Read More: What is a Good Interest Rate on a Personal Loan? Here are some ways to make sure you manage your loan responsibly so you can reap the benefits of consolidating your other loans while minimizing the risk of further damage to your credit score. Before you take on a new personal loan, determine how much you can afford to pay each month for the full term of the loan. While more is better, you need to be able to pay consistently. While the rates might be lower and the terms more flexible, paying down this loan is now just as important as the credit card debts or even payday loans you may have rolled into it. Read the fine print. Make sure you understand the consequences both of missing a payment but also of prepayment fees. Be aware of how interest is charged, as this may differ from the annual percentage rate you were quoted. Be aware of any processing or computation fees. Read More: What Can I Use a Personal Loan For? A shorter-loan term will mean higher payments, but a longer-term loan will mean more interest charges. Be realistic about what you can afford, both today and in the coming months, and plan your other spending accordingly. You may have to skip a vacation next summer, but you will gain in the long term. It sounds obvious, but plan your monthly expenses so you are not caught short. Plan to make your loan payment as soon after receiving your salary as possible. Some lenders will even charge late if your payment is a few days late without reporting a missed payment. If things do not go according to plan and you cannot make a payment, do not take on additional debt or try to avoid your lender. Reach out and explain the situation. It may be embarrassing, but most lenders will be prepared to work with you to some degree. If you come into extra money over the loan term, use it to pay the loan off early. You will save on interest payments and you will free up your money sooner to use on things that matter to you. But keep an eye out for prepayment penalties. This loan is essential to your long-term future. Do not be tempted to put additional items on your credit card because you are making progress on your existing debts or take out another personal loan on the same terms. The idea is to reduce debt utilization long term so you can borrow smart on things that matter. Read More: How Many Personal Loans Can You Have at Once? At Baton Rouge Telco, we offer our members affordable personal loans to help you finance your needs today and build toward a better tomorrow. We offer a range of loans, all with simple, flexible terms and low rates, including: Click below to learn more about our personal loans. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/are-you-ready-for-hurricane-season Title: Are you ready for hurricane season? - Baton Rouge Telco Federal Credit Union Meta Description: I know what you're thinking. You've lived in south Louisiana your entire life and go through hurricane season every year. Of course, you're ready... but are you really? Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/are-you-ready-for-hurricane-season ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Are you ready for hurricane season? H2: Storm Season: Here’s How to Prepare H3: 1.  Develop an Evacuation Plan H3: 2. Emergency Kit Preparation H3: 4. Communications H3: 5. Vehicle Maintenance H3: 6. Talk to Your Neighbors H3: 7. Storm Resources and Alerts H2: Are You Prepared Financially? H3: Secure Important Documents H3: Emergency Fund H3: Insurance Check Up H2: Prepare to Thrive With Baton Rouge Telco H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Are you ready for hurricane season? H2: Storm Season: Here’s How to Prepare H3: 1.  Develop an Evacuation Plan H3: 2. Emergency Kit Preparation H4: You’ll need at least a three-day supply of water and non-perishable food for each person, plus first-aid items, medication, batteries, flashlights, and spare phone chargers. Also, don’t forget food and medication for your pets. H4: 3. Home Preparedness H3: 4. Communications H3: 5. Vehicle Maintenance H3: 6. Talk to Your Neighbors H3: 7. Storm Resources and Alerts H4: Finally, know where your nearest hospital, emergency services, and storm shelters are and keep contact information for these up to date. H2: Are You Prepared Financially? H3: Secure Important Documents H3: Emergency Fund H3: Insurance Check Up H2: Prepare to Thrive With Baton Rouge Telco H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. I know what you're thinking. You've lived in south Louisiana your entire life and go through hurricane season every year. Of course, you're ready... but are you really? Hurricanes are a fact of life in our part of the world, which means there’s no excuse for not being prepared for the possibility of a storm strike every season. There’s a lot to be proud of here in Baton Rouge, from great Southern cooking to the Fighting Tigers. You can do your part to protect our city by being “Red Stick Ready” for whatever the weather brings. Below we take a careful look at what you can do ahead of time to ensure you’re able to stay safe and limit damage to your property should a major storm come our way. Work through the following steps to help ensure you’re storm-ready at the start of hurricane season. For more information on storm preparedness, check Baton Rouge’s Red Stick Ready site or download Louisiana’s detailed emergency prep guide. Early evacuation is the best option for you and your family. Much of Baton Rouge falls within Louisiana’s Phase III evacuation zone, which recommends leaving at least 30 hours before the onset of tropical, storm-force winds. Know the best escape routes out of your area when storms threaten. For Baton Rouge, our main evacuation route is along Route 61 towards Mississippi. Stick with major routes and note the locations of gas stations, motels, and emergency shelters. If you or a family member have a disability, remember to plan for suitable transport and accommodation. If you have pets, you’ll need travel crates and food as well as the locations of pet-friendly motels or emergency shelters. Whether you’re leaving or are unable to evacuate, you should have the supplies you need packed in an emergency kit. Here are some essential items to include: The hours before the arrival of a major storm is no time to be undertaking major repairs on your home. In advance of hurricane season, make sure your home is up to code and ready to withstand powerful winds and strong rains. Reinforce gutters and have the supplies on hand to secure boats, patio furniture, and other objects. The start of hurricane season is also a good time to install storm shutters, or at least to buy the plywood you will need to cover windows in the event of a storm. Preparing now will make it easier to protect your property from a storm whether you leave or shelter in place. Put in plans in place to stay in touch with family during potentially chaotic situations. Decide on a check-in system and at least two rendezvous points in case you become separated. Be sure to download the Red Stick Ready app on your mobile phones to stay informed. Also, consider investing in two-way radios or satellite-capable cell phones so you can continue to communicate if cellular networks are down. It’s critical that you have access to a reliable vehicle in the event of an evacuation. Your car must be insured and the engine, tires, and brakes must be in good condition. Community support can become critical in the event of a disaster. Get to know your neighbors and discuss hurricane preparation plans with them. Arrange a check-in system in the event of a storm. Be sure to include elderly or disabled family members or neighbors in the plans. Good information is critical during a potentially catastrophic event like a hurricane. Sign up for local weather alerts and notifications from local authorities like your Sheriff and fire department as well as state and federal emergency management. A small wind-up radio can be critical for keeping current with developments if power or mobile data networks are disrupted. While practical steps to prepare for a hurricane are essential, making sure that your finances are in order can bring peace of mind during the chaos of a major storm and make post-hurricane cleanup and recovery easier. Here are some things to consider: Keep crucial financial documents in a secure, waterproof, and fireproof container. Important documents include original forms of identity, immigration paperwork, insurance policies, house deeds, and bank account information, as examples. You might also want to scan these documents and upload them to a secure cloud service. An emergency fund is always a good idea, but having the equivalent of at least three months’ expenses in a savings or money market account can help provide for critical needs like food, temporary accommodation, and transportation in the wake of serious storm damage. While you might be able to use credit cards to cover these needs, having an emergency fund in place makes it less likely you will need to go into debt or spend long-term savings as you rebuild after a major hurricane strikes. The start of hurricane season is also a great time for an insurance check-up. Go through your insurance policies to make sure your home, cars, and other property are adequately insured against loss and damage. Additionally, keep updated copies of your policies stored safely. These will be crucial to making an insurance claim against storm damage to your home or property. Being prepared financially is a key part of being ready for a major storm. If you need help with budgeting for your emergency fund, learning how to open a money market account, or simply getting your finances in better order—Baton Rouge Telco is here to help. Our free personalized financial education program, Thrive, is designed to put our members on the path to a healthier, more sustainable financial future. Take the time to get organized and improve your money skills now. You’ll be better prepared for the future, no matter what it brings. Click below to learn more about how Baton Rouge Telco’s financial wellness program can put you on the path to success. Financial Education to Help You Thrive Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/auto-loan-faqs-answered Title: Auto Loan FAQs (Answered) - Baton Rouge Telco Federal Credit Union Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/auto-loan-faqs-answered ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Auto Loan FAQs (Answered) H2: What Does “APR” Mean? Is It Just the Interest Rate? H2: How Do I Decide on a Vehicle Loan? H2: How Do I Apply for an Auto Loan? H2: What Is a Car Loan Pre-Approval? H2: How Do I Get Pre-Approved for an Auto Loan? H2: How Do I Make Auto Loan Payments? H2: What Is Auto Loan Refinancing? H2: What If I am Leasing My Car? Can I Get a Loan to Help Me Purchase It? H2: Who Holds the Title While I’m Still Making Loan Payments? H2: Can I Include Insurance and Registration Costs in My Auto Loan? H2: How Does My Credit Score Impact the Auto Loan Rate I Receive? H2: What Happens If I Miss a Payment on My Auto Loan? H2: Are There Any Penalties for Paying Off My Auto Loan Early? H2: How Long Does the Process Take—From Applying for an Auto Loan to Getting Approval? H2: I’m Ready to Begin! What Are My First Steps? H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Auto Loan FAQs (Answered) H2: What Does “APR” Mean? Is It Just the Interest Rate? H2: How Do I Decide on a Vehicle Loan? H2: How Do I Apply for an Auto Loan? H2: What Is a Car Loan Pre-Approval? H2: How Do I Get Pre-Approved for an Auto Loan? H2: How Do I Make Auto Loan Payments? H2: What Is Auto Loan Refinancing? H2: What If I am Leasing My Car? Can I Get a Loan to Help Me Purchase It? H2: Who Holds the Title While I’m Still Making Loan Payments? H2: Can I Include Insurance and Registration Costs in My Auto Loan? H2: How Does My Credit Score Impact the Auto Loan Rate I Receive? H2: What Happens If I Miss a Payment on My Auto Loan? H2: Are There Any Penalties for Paying Off My Auto Loan Early? H2: How Long Does the Process Take—From Applying for an Auto Loan to Getting Approval? H2: I’m Ready to Begin! What Are My First Steps? H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Buying a car is a considerable purchase for many people. The process involves navigating the often-confusing and complex world of auto financing. This is why it’s essential to have a solid grasp of key details like terms, APR, and refinancing because knowing how these factors impact your loan allows you to negotiate the best possible deal. At Baton Rouge Telco, we’ve compiled a list of the top auto loan FAQs related to car financing. Read on to learn more as we demystify the auto loan process. APR is the annual percentage rate on a loan. It represents the total annual cost of borrowing money. APR includes the interest rate and any additional loan fees or costs. Start by considering your needs and understanding the personal factors influencing your loan options. For example, review your credit report, monthly budget, and whether you are buying a new or used car. Start by searching for the options that different financial institutions offer. An auto loan calculator will allow you to determine how much you will pay each month. You’ll also be able to compare two different loans to see which offers the best value. You can now apply for an auto loan online or in person at any Baton Rouge Telco branch. We have locations in Baton Rouge, Hammond, and Denham Springs where we can help you in person with the application process. For more information, call us at (225) 924-8900 or use our website's live chat feature. Our helpful team members will provide insight into what documents you must have ready when applying. This is one of the top questions that our members ask. Pre-approval is when you apply for loan approval before you go car shopping. It allows a lender to review your finances ahead of time and determine approved loan amounts and rates. Car dealerships will often offer you a loan with high-interest rates through a partner company. You can avoid this waste of time and money by getting pre-approved through your credit union. You’ll likely be able to secure lower interest rates right from the start. Walking into a dealership with a pre-approval in hand shows them you know the best rates you can achieve. As such, dealers are often more willing to negotiate. They understand you have a clear budget and may offer better prices or terms to close the deal quickly. Baton Rouge Telco offers car loan pre-approvals to our members. It’s free to join our financial family. You’ll only need to deposit $5 into a new savings account to get started. The best option is to set up automatic payments so you won’t accidentally forget to make one. Many financial institutions have multiple options for payment. For example, Baton Rouge Telco accepts online payments via phone, mail, or in person. Refinancing is when you use a new car loan to pay off your current car loan. People often refinance their car loans for lower interest rates or monthly payments. If you have improved your credit score since you initially took out your loan, you could potentially now get a better APY. However, it’s important to factor any refinancing fees into the total cost of the loan. Analyzing these numbers can help you decide if refinancing is a good option. Baton Rouge Telco allows members to save on loans through our loyalty discounts. For example, the refinanced loan APR can decrease by up to 1%. You have financing options if your leasing company allows you to purchase the car after the lease ends. However, knowing your lease's terms and conditions beforehand is essential. Make sure to discuss this with your leasing company and check your paperwork. Baton Rouge Telco offers lease buyout options, and you can learn more by talking with a representative. When you finance a car, the lender (known as a “lien holder”) will retain legal ownership of the car’s title until you repay the loan. If you default, they can legally repossess your car because it acts as collateral for the unpaid balance. You will receive the title to your car soon after you’ve paid off your loan in full. In Louisiana, it typically takes 2-4 weeks to receive the title from the DMV. Some lenders allow you to include insurance and registration costs in your auto loan. This will enable you to roll these expenses into your loan amount and pay them off along with the car over time. However, it might increase your overall loan amount and the interest you pay. Your credit score significantly impacts the auto loan rate the lender offers you. A higher credit score usually means lower interest rates because lenders see you as a lower-risk borrower. Conversely, a lower credit score might result in higher rates due to perceived increased risk. Missing a payment on your auto loan can have several consequences. You may initially incur late fees, and your lender may report the late payment to credit bureaus. A late payment on your credit report will negatively impact your score. Continued missed payments can lead to severe consequences, like loan default or repossession. Whether you'll face penalties for early auto loan payoff depends on your lender. Some lenders add prepayment penalties to the payoff amount to compensate for their lost interest. Always check your loan agreement for prepayment terms before paying off your loan early. The time it takes to get approval for an auto loan varies. Depending on the lender and your financial situation, it can be as quick as the same day or take a few days. Having your documents ready and a good credit history (and score) can often speed up the process. At Baton Rouge Telco, we’re excited that you’ve decided to start the process of purchasing a vehicle! Click the link below to check out our auto loans webpage and get started. You can view our current rates and fill out an application online. If you have any questions, click the chat bubble in the lower right-hand corner of this web page to speak with a live banker. We look forward to helping you get behind the wheel of a car with a loan that fits your budget and lifestyle! Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/can-you-direct-deposit-into-a-savings-account Title: Can You Direct Deposit Into a Savings Account? - Baton Rouge Telco Federal Credit Union Meta Description: Many employers now offer direct deposit as a payroll option. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/can-you-direct-deposit-into-a-savings-account ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Can You Direct Deposit Into a Savings Account? H2: How Does Direct Deposit Work? H2: Why Consider Direct Deposit? H3: Convenience H3: Helps You Save Money H3: Safer Than Paper Checks H3: Fast Payments H3: You May Have Certain Fees Waived H3: Helps With Budgeting H3: No Cost H3: Receive Payment When You Are Unable to Visit a Bank H2: Setting Up Direct Deposit H3: 1. Obtain a Direct Deposit Form H3: 2. Fill Out the Form H3: 3. Determine the Deposit Amount for Savings H3: 4. Submit the Form H2: Opening a Savings Account H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Can You Direct Deposit Into a Savings Account? H2: How Does Direct Deposit Work? H2: Why Consider Direct Deposit? H3: Convenience H3: Helps You Save Money H3: Safer Than Paper Checks H3: Fast Payments H3: You May Have Certain Fees Waived H3: Helps With Budgeting H3: No Cost H3: Receive Payment When You Are Unable to Visit a Bank H2: Setting Up Direct Deposit H3: 1. Obtain a Direct Deposit Form H3: 2. Fill Out the Form H3: 3. Determine the Deposit Amount for Savings H3: 4. Submit the Form H2: Opening a Savings Account H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Many employers now offer direct deposit as a payroll option. Many employers now offer direct deposit as a payroll option. Although you may choose to have your paychecks deposited into your checking account, it may also be possible to have part of your paychecks deposited into a savings account. This could help you achieve your savings goals or build an emergency fund for unexpected expenses. If you are set up for direct deposit with your employer, you will no longer receive paper checks. Instead, your money is deposited electronically into your bank account. You may still receive a paper “paycheck stub” in the mail, or you may be given the option to access your paycheck information online. Getting set up for direct deposit is very easy. You simply fill out a form that your employer provides with information about your bank or credit union and your checking and savings accounts. Your employer may allow you to direct deposit a portion of your paycheck into a savings account each pay period. If this option is offered, you will need to designate how much will go into your checking account versus your savings accounts when you submit your direct deposit form. If you need to change the amounts in the future, you will have to submit a new direct deposit form. There are several important reasons to consider direct deposit. It could save you time, money, and help you achieve your savings goals. If you receive a paper check from your employer, you’ll have to take the time to drive to your bank or credit union to deposit it. With direct deposit, your money is deposited automatically. You don’t even have to think about it. Direct deposit allows you to spend your valuable time doing other things. It can be easy to get sidetracked on your savings goals when you have to remember to deposit money in your savings account. With direct deposit, however, the savings happen automatically. This can help you save for a new vehicle, a down payment for a home, or build an emergency fund. If you receive a paper check, there’s always the possibility that it could be lost. If it’s mailed, it could accidentally be delivered to the wrong address. Someone could also steal your check and forge your signature. Direct deposit eliminates all of these problems. There is no paper check to get lost or stolen because your money is sent electronically to your bank account. Several things can slow down the depositing of a paper check. If a check is mailed, it could take several days for you to receive it. You could also get busy doing things and forget to make the deposit. Direct deposit quickly deposits your money into your account on the scheduled payday. You’ll also have quick access to it, which could come in handy if you need to buy something or pay bills. Some banks and credit unions may waive certain fees—like a monthly account maintenance fee—for their direct deposit customers. This is because direct deposit saves them time and resources since they don’t have to process your paychecks manually. Creating and using a budget is a great way to make sure you have enough money to cover all of your monthly expenses. Because money is deposited directly into your account, direct deposit can help you stick to your budget. It helps you stay on schedule because you won’t have to worry about delays in receiving and depositing your paychecks. Employers that offer direct deposit typically don’t charge their employees for the service. Many companies prefer to process payroll through direct deposit because it saves them time and money. After all, they don’t have to manually process and mail checks. If you’re sick and you receive a paper check, you may have to wait until you’re feeling better before you can deposit it. This could cause budgeting problems or prevent you from paying your bills on time. With direct deposit, your money is deposited into your account without you having to do anything. Direct deposit is also ideal for when you’re traveling. If you want to take a vacation, your money will be deposited while you are away. Setting up direct deposit so that part of your earnings are deposited into a savings account is usually simple and easy. Although the process may vary depending on the company, the following steps are typical. If your employer offers direct deposit, obtain a direct deposit form from someone in the payroll department. But, some employers may require you to fill out the form online. Enter all required information on the form. Information you’ll need may include your bank’s name, address, as well as your account information. You may also need a voided check. If you want a certain percentage of your income to go into your checking account and the rest into a savings account, you’ll have to include the information on the form. To save time, figure out that allocation before you start filling out the form. After filling out the direct deposit form with all required information, return it to the person who gave it to you. It may take 1-2 weeks for direct deposit to take effect. If you currently don’t have a savings account, opening one is quick and easy. It can be done in just a few minutes at a branch location, which means you can start growing your savings right away. One of the best things about opening a savings account is that it may not affect your credit score. Click on the following link to learn more about opening a savings account and whether a credit check will be needed. Does Opening a Savings Account Affect Your Credit Score? Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/certificate-of-deposit-advantages-and-disadvantages Title: Certificate of Deposit: Advantages and Disadvantages - Baton Rouge Telco Federal Credit Union Meta Description: A certificate of deposit, also known as a CD, is a popular investment option if you’re wanting to upgrade from a typical savings account. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/certificate-of-deposit-advantages-and-disadvantages ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Certificate of Deposit: Advantages and Disadvantages H2: What Is a Certificate of Deposit? H3: How a Certificate of Deposit Works H2: Certificate of Deposit Advantages H3: Safety: Rewards Without Risk H3: Higher Interest Rates Than Regular Savings H3: No Fees H2: Certificate of Deposit Disadvantages H3: Limited Access H3: Taxes H3: Inflation H2: Grow Your Savings With Baton Rouge Telco! H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Certificate of Deposit: Advantages and Disadvantages H2: What Is a Certificate of Deposit? H3: How a Certificate of Deposit Works H2: Certificate of Deposit Advantages H3: Safety: Rewards Without Risk H3: Higher Interest Rates Than Regular Savings H3: No Fees H2: Certificate of Deposit Disadvantages H3: Limited Access H3: Taxes H3: Inflation H2: Grow Your Savings With Baton Rouge Telco! H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. A certificate of deposit, also known as a CD, is a popular investment option if you’re wanting to upgrade from a typical savings account. A certificate of deposit, also known as a CD, is a popular investment option if you’re wanting to upgrade from a typical savings account. You’ll maximize your savings and earn more with competitive interest rates that go up as you choose longer terms. This is a great option if you’re saving for a specific goal or timeline. Before you decide if it’s the right option for you, we’ll cover some certificate of deposit advantages and disadvantages. A certificate of deposit (CD) is a type of savings account that holds your deposited funds for a set amount of time. As your chosen credit union holding the funds, we pay you interest on the total balance. Once the term ends, you’ll receive the amount you originally deposited in the account, plus accrued interest. If you take money out of your CD before it matures, you typically have to pay a penalty. CDs tend to offer higher interest rates than savings accounts because of the restrictions placed on accessing money earlier than the end term. At Baton Rouge Telco Federal Credit Union, we offer CD terms from three months up to five years and longer. This will help you choose how much you want to deposit and for how long. CDs are an elevated type of savings account, meaning you’re able to earn dividends on your deposit as well as the interest earned. These dividends are paid monthly and can easily be transferred to another savings account if you choose. Think of this like extra credit — in exchange for leaving your money untouched, we’ll pay you more! CDs offer a range of benefits that make them a good choice for earning interest on extra money! CDs are a great option if you want to avoid risking your money in the stock market, but still want to grow your wealth. You’ll see most certificates are federally insured up to $250,000, taking much of the risk out of your investment. When you withdraw your deposit from your CD, expect to receive your deposit and the interest you’ve earned (unless you make an early withdrawal). To increase flexibility, you might want to consider a Certificate Ladder where you stagger your certificates with different maturity dates and terms. With this strategy, you’ll have more options to access your deposited savings at different periods of time and can still enjoy the advantages of a CD. CDs tend to offer higher rates than standard savings account options. Another advantage is that CD rates are fixed where rates for checking or savings accounts can be lowered at any time. This means investing in a CD gives you a predictable return in a specific timeframe. Because CD interest rates are locked, you can work out exactly how much money you’ll earn by the end of your term. There isn’t any risk of interest rates lowering if market rates change. The longer you set your term, the higher your interest rate and the more you can save! Our CDs require a minimum opening deposit of $500. After that, you’ll owe nothing toward additional or ongoing fees. No monthly fees mean your invested deposit can grow without penalty. You’ll have guaranteed savings to achieve your future goals, like a downpayment on a car or home, or for the special things in life like vacations and weddings. CDs are a great start to long term savings, but they do come with some drawbacks. Before opening an account, you want to have a plan in place so you won’t have to make an early withdrawal. A CD is not a savings account, meaning you can’t take out money whenever you need it. Once you’ve decided on a term length, you have to leave your funds untouched until the term end or maturity date. Early withdrawals can mean you lose some or all interest earned, plus some of your deposit, depending on the terms of the CD. This means you should consider another source of funds to turn to for emergency spending. One of the bigger disadvantages of certificates of deposits is they’re subject to taxes. Any interest earned must be claimed in the year it was earned and not just the year when your CD terms. Depending on your income and deductions, this could lower your tax refund received. You might also end up owing additional taxes if you underpaid for the year. Keep in mind how the current state of the economy can affect your returns! Certificate rates could be lower than the rate of inflation. This means your money might lose its purchasing power over time if the interest you earn is less than the rate of inflation. We’ve now outlined the main certificate of deposit advantages and disadvantages to help you decide if this type of account is right for you. You can easily open a CD with us by applying online, making your initial deposit, and choosing a term. Click the link below to learn more! See Our Certificates of Deposit Options & Benefits Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/choosing-credit-cards-for-business Title: Choosing Credit Cards For Business - Baton Rouge Telco Federal Credit Union Meta Description: Using a credit card for business use can be an ideal way to keep track of purchases and get rewards while you spend. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/choosing-credit-cards-for-business ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Choosing Credit Cards For Business H2: But first, how do business credit cards work? H3: 1. Consider your business’s expenses H3: 2. Make a plan for managing your account H3: 3. Check out the other perks H3: 4. Evaluate the credit card company H3: 5. Bank vs. credit union vs. other H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Choosing Credit Cards For Business H2: But first, how do business credit cards work? H3: 1. Consider your business’s expenses H3: 2. Make a plan for managing your account H3: 3. Check out the other perks H3: 4. Evaluate the credit card company H3: 5. Bank vs. credit union vs. other H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Using a credit card for business use can be an ideal way to keep track of purchases and get rewards while you spend. Using a credit card for business use can be an ideal way to keep track of purchases and get rewards while you spend. Beyond this, though, there are numerous benefits to having a business credit card. These include simplifying your employee’s expenses, taking advantage of purchase protections, and getting access to tools that help you manage your finances. Before you decide what credit card company you trust with your finances, you’ll want to consider a few factors and weigh your options. Check out our guide to choosing the best credit card for business use. Business credit cards work very much in the same way as a standard credit card. You apply for a card, get a set credit limit, and can charge purchases to your card. As long as you pay your bill in full by the due date, you’re good to go. Otherwise, you’ll owe interest according to the card’s APR. You can usually issue several cards to your employees so that they have access to your account and can put charges on the business’s credit. Credit cards for business use make managing finances quite straightforward. But it is important to set up a system to ensure all purchases are approved as well as establish spending limits. Different credit card companies offer different systems to do this, so keep in mind the system you might want in place while you are looking for options. One major factor that should go into your decision is what kind of rewards you want to be earning. If you or your employees do a lot of traveling, you will probably want to consider a travel rewards card. If your business requires you or your employees to drive, a credit card that gives you extra rewards on gas may be a good option. If most of your purchases are general expenses, with no particular thing topping the ranks, a general cashback on everything card can give you money back on all purchases. First, you’ll want to think about how many employees need cards. Is it just you? Or will multiple people have access to the account? Will you want to set spending limits? Many businesses have their employees submit requests for purchases before using the company card. In this case, you’ll want a way to monitor your account to make sure all purchases are accounted for. You’ll want to check if the cards you are considering have options for the plan you have in mind. For example, Baton Rouge Telco’s Visa cards have 24/7 online access to your accounts – this ensures that you can always monitor where your business’s expenses are coming from. You’ll want to consider what kind of perks (in addition to rewards) are available with a particular card. Some cards offer purchase protection, others have perks on APR for a period of time. Baton Rouge Telco’s Visa cards offer Apple Pay and instant issue credit cards. Having access to instant issue cards printed the same day can be a lifesaver if something happens to your credit card, or if a new employee joins your company and needs a card. Trustworthiness, guarantees, and customer service are three examples of company characteristics that can make or break your experience as a consumer. For example, going with a small credit card company might mean that you’ll get faster, more straightforward service. However, nowadays, most places only accept a few major credit cards. Visa and Mastercard are the two predominant ones. American Express and Discover are also commonly used, yet many small businesses do not accept these company’s cards. If you’ll be shopping at a lot of local, small retailers, Visa or Mastercard may be the best bet. When deciding where to get a credit card, you’ll want to consider where you’re getting the card as well as the actual credit card provider. There are lots of places you can look for and apply for cards. Two of the most common ways to get a credit card are through your bank or credit union. Being a member of a bank or credit union usually makes it easier to get approved for whatever card you apply for. As a member of a credit union, you also get other perks like low APR and great customer service. Because credit unions are not-for-profit and owned by their members, they can offer low, competitive APR that you may not be able to get anywhere else. You can learn more about the Visa cards that Baton Rouge Telco offers, the APR, and the perks and rewards that come with each one by clicking the link below. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/compare-visa-credit-card-benefits Title: Compare Visa Credit Card Benefits - Baton Rouge Telco Federal Credit Union Meta Description: Choosing a credit card is a big decision. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/compare-visa-credit-card-benefits ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Compare Visa Credit Card Benefits H2: Comparing Your Credit Card Options H3: Visa Gold H3: Visa Cash Back H3: Visa Secured H2: Compare Credit Card Benefits & Apply Today H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Compare Visa Credit Card Benefits H2: Comparing Your Credit Card Options H3: Visa Gold H3: Visa Cash Back H3: Visa Secured H2: Compare Credit Card Benefits & Apply Today H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Choosing a credit card is a big decision. Choosing a credit card is a big decision. The right card can help you make purchases as you need to without complicated fees or confusing terms. A good credit card offers a range of features that fit into the way you like to bank. For those considering their options in Visa credit cards, Baton Rouge Telco has plenty to offer. Take a closer look at the three credit cards we offer. Consider how well each one may fit into your budget and your financial needs. We welcome you to reach out to us with any questions you may have about choosing the best credit card for you! If you are seeking a credit card that offers great, flexible terms, start with Visa Gold. It offers an interest rate as low as 7.90% APR1 for well-qualified applicants. That rate is highly competitive, making it an accessible option for many people. Here’s what you should know about the Visa Gold card: There are a few key benefits to this offer. First, it is affordable with a low interest rate and no annual fee. It also has no fees on balance transfers, making this the ideal credit card for those who want to consolidate higher interest rate cards or simply want to save money. The Visa Cash Back card gives back! For those who want to earn rewards and cash back, this credit card can be an excellent choice overall. If you make a lot of purchases using credit, this rewards card may pay off for you. Here are some key features you may benefit from with the Visa Cash Back credit card: The Visa Cash Back credit card has much to offer, including competitively low interest rates (often better than most other cash back offers out there). For those who qualify, this card’s 2% cashback is an excellent choice. Unlike other credit cards that give cash back for just certain purchases, this allows users to obtain cash back for any purchase they make using the card. That means a constant way to earn something back. Also beneficial is the zero transfer fees associated with balance transfers. Move money from high interest rate credit cards here to save. The Visa Secured credit card from Baton Rouge Telco offers some key features. For those who may not have a proven credit history or may want to work on rebuilding their credit score, this credit card works well. It is a secured credit card, which means users will establish their credit limit with a deposit. Yet, that allows them to start building a strong credit history as a result. There are a few benefits to using the Visa Secured card, including: This credit card works very well for those who want to build or restore their credit. It is easy to qualify for and does not have high or hidden fees to manage. More so, it allows users to transfer high interest rate balances with ease, making it possible to not only reduce their costs but to build their credit score in the process. Baton Rouge Telco works hard to ensure every one of our members has access to the credit cards they want and need. Through this process, we can help you build credit and have the buying power you need in today’s challenging world. What’s more, as a credit union, when we grow, you grow. Members can take full advantage of the many offers and opportunities we provide, including low interest rates and access to all of the loans they may need over their lifetime. Why use Baton Rouge Telco’s credit cards? We make the entire process simple and easy to manage: Are you ready to get started? Click below! 1 Quoted APR is Telco’s current rate. All rates, terms, and conditions are subject to change and are based on creditworthiness. Low minimum monthly payment of only 2% of balance or $10 (whichever is greater). Cash advance fee of $10.00 or 2% of the amount of each cash advance (whichever is greater). Overdraft Protection Fee: $5.00 per transfer — if you opted to use the LOC as a transfer source. Account Transfer Fee: $10.00 or 2%, whichever is greater, per transaction. This includes any transfer of funds from the LOC to an account, either in person or electronically. 2 Quoted APR is Telco’s current rate. Cash Back Card rate is a variable rate tied to prime rate and can be adjusted every year. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/does-opening-a-savings-account-affect-your-credit-score Title: Does Opening a Savings Account Affect Your Credit Score? - Baton Rouge Telco Federal Credit Union Meta Description: A savings account is a great way to save for something you want or need. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/does-opening-a-savings-account-affect-your-credit-score ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Does Opening a Savings Account Affect Your Credit Score? H2: What Are the Benefits of Opening a Savings Account? H3: Federally Insured H3: Low Risk H3: Earn Interest H2: Will Opening a Savings Account Impact My Credit Score? H3: Soft Credit Inquiry vs. Hard Inquiry H2: How Do You Open a Savings Account? H3: 1. Gather the Required Documents H3: 2. Choose a Joint or Individual Account H3: 3. Apply for an Account H3: 4. Fund Your New Account H3: 5. Set Up Direct Deposit (Optional) H2: Savings Accounts with Baton Rouge Telco H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Does Opening a Savings Account Affect Your Credit Score? H2: What Are the Benefits of Opening a Savings Account? H3: Federally Insured H3: Low Risk H3: Earn Interest H2: Will Opening a Savings Account Impact My Credit Score? H3: Soft Credit Inquiry vs. Hard Inquiry H2: How Do You Open a Savings Account? H3: 1. Gather the Required Documents H3: 2. Choose a Joint or Individual Account H3: 3. Apply for an Account H3: 4. Fund Your New Account H3: 5. Set Up Direct Deposit (Optional) H2: Savings Accounts with Baton Rouge Telco H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. A savings account is a great way to save for something you want or need. A savings account is a great way to save for something you want or need. It could help you save for a new car, a vacation, a college education, or something else. You can also use your savings account as an emergency fund to take care of unexpected expenses. Opening a savings account is a simple process that can be done in person, online, or by phone. A credit check isn’t required to open a savings account, but a special review of your banking activity may be done to check for previous issues. Read on for the full answer to your question, Does opening a savings account affect credit score? A savings account is a special account at a bank or credit union where you can safely store your money and earn interest. Depending on the financial institution, you may be required to maintain a small minimum balance, although some institutions may not have any minimum balance requirements. Here are a few benefits to consider. An important benefit of keeping your money in a savings account is that it will be insured by either the Federal Deposit Insurance Corporation (FDIC) if your money is in a bank, or the National Credit Union Administration (NCUA) if your money is in a credit union. Both government organizations insure accounts for up to $250,000. Savings accounts are considered low-risk investments because your money is safely kept in an account and the government insures the funds. They may be safer than other investments that sometimes experience market value changes such as stocks, commodities, cryptocurrencies, and others. Another important benefit of keeping your money in a savings account is that you will earn interest on your savings. The financial institution pays you interest because it uses the money to fund loans for other people. That doesn’t mean your money is locked up, however. You can withdraw it anytime you like. The interest you earn on your savings is usually compounded daily and paid monthly. This means the balance in your account can grow over time from the compounding of interest where you earn interest on previously earned interest. A credit check will not be done when you open a savings account. This means your credit score isn’t needed and won’t be impacted. However, the financial institution may review your banking history through a system known as ChexSystems. A ChexSystems report shows your previous checking and savings account activity. It will show if you have had any overdrafts, or bounced checks, or if there has been any fraudulent activity on your account. A review of your ChexSystems report does not affect your credit score. Other financial activities may require a credit check, such as applying for a mortgage, personal loan, or credit card. Credit checks are also known as credit inquiries. There are two different types of credit inquiries—hard and soft—and they impact your credit in different ways. A hard credit check is done when you apply for a loan of some kind. Hard credit checks cause a temporary decline in your credit score that lasts up to 12 months. Your credit score recovers after you make timely payments on the loan or credit card. Soft credit checks are done for things other than applying for credit—like applying for a job, renting an apartment, or if you’re pre-approved for a credit card. Soft credit checks do not affect your credit score. The process to open a savings account is simple and can be completed in one visit. Many financial institutions also give you the option of opening an account online or by phone. A savings account can be established with the following steps. Making sure you have all of the necessary documents and information you will need before applying may help to prevent delays. The faster you can open a savings account, the sooner your money can start earning interest. Documents and information you will need include: The type of savings account you choose will determine who has access to it. If you only need an account for yourself, select an individual account. If you want someone else to be able to contribute to the account and withdraw money from it, select a joint account. You will need to provide the information mentioned in Step 1 to the financial institution to open the account. You will then need to read the disclosure document and accept the terms and conditions. Depending on the institution, your account may be approved within 1-5 business days. There are several ways you can fund your new account. You can write a check or have money transferred through a wire transfer from another institution. If you have a checking account with the institution you are opening the savings account with, the funds can be transferred from your checking account to your savings account. By setting up direct deposit, you may be able to direct a certain percentage of your income to your savings account each month. The easiest way to do this is to have money automatically transferred from your checking account to your savings account. This could help you effortlessly grow your savings. If you would like to open a savings account, Baton Rouge Telco offers a savings account with no minimum balance fees and no monthly fees. We also offer overdraft protection for just $5 per transfer. Accounts are insured by NCUA for up to $250,000. But maybe you’re still wondering, does opening a savings account affect your credit score? The simple answer is no. Setting up a savings account with Baton Rouge Telco is easy. For just $5, you can become a credit union member, which makes you one of its owners. After establishing your membership, you can open an account. In addition to offering a traditional savings account, we also offer a Money Market Account that offers a higher interest rate. These accounts are ideal for earning interest on large balances. Unlike Certificates of Deposit, where your money is locked in, you can withdraw funds from your Money Market Account. Click below to learn more! See Our Savings Accounts Options & Benefits Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/emergency-loans-how-to-get-a-personal-loan-fast Title: Emergency Loans: How to Get a Personal Loan Fast - Baton Rouge Telco Federal Credit Union Meta Description: If you don’t have an emergency fund, you may need a source of quick cash when an unexpected problem occurs. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/emergency-loans-how-to-get-a-personal-loan-fast ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Emergency Loans: How to Get a Personal Loan Fast H2: Borrow from Friends or Family H2: Credit Card Cash Advance H2: Payday Loan H2: Pawnshop Loan H2: 401(k) Loan H2: Solutions Loan from Baton Rouge Telco H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Emergency Loans: How to Get a Personal Loan Fast H2: Borrow from Friends or Family H2: Credit Card Cash Advance H2: Payday Loan H2: Pawnshop Loan H2: 401(k) Loan H2: Solutions Loan from Baton Rouge Telco H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. If you don’t have an emergency fund, you may need a source of quick cash when an unexpected problem occurs. If you don’t have an emergency fund, you may need a source of quick cash when an unexpected problem occurs. The following are six sources of personal loans for emergencies. Be sure to carefully consider the pros and cons of each option before borrowing. A common way that many people borrow money is to ask friends or family to help them out. The main advantages of this strategy are that it is convenient and you can save money on interest. When you borrow from someone close to you, they usually don’t expect to earn any money on the loan. You may also have more flexibility in the repayment. These loans are usually informal, and the lender may be willing to give you extra time to make a payment if needed. An important negative to consider with borrowing from friends and family is what happens if you are unable to repay the money. Although it depends on the individual, your relationship may be damaged. Many credit card companies allow their members to obtain cash advances with their cards through ATMs. The card issuer may charge a fee for the service, which may be up to $25 per advance. Credit card cash advances do have an important negative to consider. Some people will be tempted to only pay the minimum amount due each month after borrowing money. Significant interest will be added to your account if you do this, and it could also contribute to you going deep in credit card debt as the card is used to make additional purchases. You may have seen businesses in your community that offer short-term loans that you repay the next time you get paid. The convenience of these “payday loans,” as they are called, is the only thing they have going for them. They have some important negatives to consider that may make you think twice about them. The interest rates on payday loans are usually very high. Although they will vary depending on the lender, interest rates of up to 600% are not uncommon. When you apply for a payday loan, you will be required to sign a post-dated check for the full amount plus interest. If you don’t repay the loan by the agreed date, the lender may go ahead and process the check to get his money back. This could result in an expensive overdraft fee if you don’t have the funds in your account to cover it. Because of the high interest rates and the aggressive strategies lenders use to get their money back, it’s best to avoid payday loans and go with another type of loan instead. Pawnshops have been in the short-term loan business for many years. The loans they issue are backed by something of value that you leave with the pawnshop until you can repay the debt. Pawnshops are known to be flexible on what can be used as collateral. Just a few examples include: Pawnshop loans are usually for 1 to 3 months, but there is usually no penalty for repaying a loan early. The main advantage of these loans is that they are fast and easy to get. Loans are issued the same day you apply, and credit checks are not done. Pawnshop loans do have two important negatives to consider. First, the interest rates for these loans may be as high as 200%. Second, if you don’t repay the loan, the pawnshop will sell the item you used as collateral to recoup the lost money. If you have a 401(k) retirement plan, you may be able to take out a loan against it. Repayment terms of up to five years are possible. An important negative to consider with a 401(k) loan is that you will have to get permission from your employer to borrow the money. This could be a problem if you don’t want your employer to know about your personal business. Also, some companies either prohibit 401(k) loans or have limitations on what you can do with the borrowed money. A company may only allow you to borrow against your retirement account for educational expenses, medical expenses, or something else, for example. The amount you can borrow with a 401(k) loan is usually capped at half of the value of your retirement account. If your 401(k) is currently worth $20,000, for example, you would only be able to borrow $10,000. An important negative to consider with a 401(k) loan is that your payments will be automatically deducted from your paycheck. Also, if you leave your job before repaying the loan, you will be required to repay the outstanding balance by the due date of your tax return. The best way to obtain some quick cash when you need it is a Solutions Loan from Baton Rouge Telco. These loans were created to provide you with the money you need until you get paid again. The interest rate and application fee are much lower than other loan options. If you have been a Baton Rouge Telco member for at least 12 months, obtaining a Solutions Loan is very easy. There is no minimum credit score requirement. Your credit report must not have an open bankruptcy or foreclosure on it. You can borrow from $200 to $1,000, and the repayment terms are between 3 and 6 months. It only costs $20 to apply, and the APR is 28.00%.* When you apply, you will be required to provide two recent pay stubs or proof of a fixed income and three references. Learn more about how a Baton Rouge Telco Solutions Loan can help you bridge the gap when money is tight. *These rates are Telco’s current rates. All rates are subject to creditworthiness. Your rate may differ. Rates can change without notice. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/first-time-buyers-guide-to-car-loans Title: First Time Buyers Guide To Car Loans - Baton Rouge Telco Federal Credit Union Meta Description: Buying a car can be daunting. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/first-time-buyers-guide-to-car-loans ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: First Time Buyers Guide To Car Loans H2: What does it mean to finance a car? H2: How do I decide what car loan I need? H3: Budget H3: Credit H3: Buying vs. leasing H3: New vs. used cars H3: APR and fees H2: Where do I look for loans? H2: How do I apply for a loan? H2: Should I get pre-approved for an auto loan? H2: Now that you understand how a car loan works, it’s time to get started! H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: First Time Buyers Guide To Car Loans H2: What does it mean to finance a car? H2: How do I decide what car loan I need? H3: Budget H3: Credit H3: Buying vs. leasing H3: New vs. used cars H3: APR and fees H2: Where do I look for loans? H2: How do I apply for a loan? H2: Should I get pre-approved for an auto loan? H2: Now that you understand how a car loan works, it’s time to get started! H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Buying a car can be daunting. Buying a car can be daunting. With talk of APR, interest, financing fees, leasing… it can seem more complicated than it has to be. We’ve compiled a guide to help you learn how a car loan works and how you can start today on your path to purchasing your new vehicle. Financing a car means that instead of paying for the car in full, you borrow money from a lender to cover the cost of the vehicle. Over time, you pay back the loan with interest each month. Every loan comes with some fees and interest as payment for borrowing the money, but some are much better deals than others. Because of this, it’s very important to compare and contrast your loan options before you decide. Before you decide what loan is best for you, you should consider a few things. What is your overall and monthly budget for a vehicle? It is important to consider how much you want to pay in total for a car, as well as how much you can afford to pay per month on a loan. Be sure to be familiar with your credit score. This might limit your options when it comes to how much money you can borrow and at what rates. Do you want to buy or lease? Leasing a car is a form of financing where you pay each month to use a car, akin to renting an apartment. Because of this, when your lease is up, you have to return the vehicle. Leasing can have lower monthly costs and allow you to have a new vehicle every few years, but leasing has its drawbacks, including mileage limits. At the end of the lease, some contracts will give you the option to buy the car, which you can do with a lease buyout loan. Buying a car has higher costs, typically requiring a down payment and higher monthly payments. But, at the end of it all, you own the title to the vehicle and will have no car payments after you’ve repaid your loan. Do you want a new car or a used car? New cars have greater longevity, which can mean a greater return on your investment. Older cars, though, do not depreciate as rapidly in value. Be sure to think about how long you’d like to keep the car and how much you drive when considering these options. Once you’ve decided on your budget and what kind of car you need, you can start to look at your loan options. You now know how much you’d like to spend overall, and how much you’d like to spend per month. It’s important to consider the APR (annual percentage rate, which is the percentage you have to pay on top of the money you borrowed including any fees), length of the loan, and any other terms and conditions of the loan, like what kind of car insurance you need to have. You should consider both the monthly rate you are going to pay as well as the total cost of the loan after interest. Using an auto loan calculator can help you ensure that the loan you are choosing aligns with your goals. Auto loans are offered by local banks and credit unions, private lending companies, and sometimes directly at the car dealership. Many different companies offer loans. The most important thing you can do is do your research and talk to an expert. At Baton Rouge Telco, we can walk you through all of your options and make sure you are not missing out on any savings. Keep in mind that local banks and credit unions will oftentimes offer discounts for being a member that can save you additional money. Nowadays, many companies process loan applications online. However, you have multiple options, including going to your local bank or credit union in person. Check online or call ahead to ensure you have all of the documents you need with you when you set out to apply. Typically, the process is done in a few steps and requires documents that include your personal information, social security number, employer information, financial information, your requested amount, and purpose for the loan. At many financial institutions, you can ask for pre-qualification, which is a soft credit check that does not affect your credit score. This gives you an idea of how likely you are to be approved. When you apply for a car loan, a hard credit check will be performed, which will be registered on your credit report. If you submit all credit inquiries within two weeks, they will all register as one joint event, affecting your credit score less than if you inquire over a longer period of time. It’s a great idea to get pre-approval for your ideal loan before you start shopping for cars. This can keep you grounded when exploring all the features available to you and give you some bargaining power when it comes to negotiating financing offers from the dealer. Baton Rouge Telco offers a competitive range of loan options that can get you into the driver’s seat of your new vehicle with ease. Click the button below to check out our loans, terms, rates, and get expert advice to get you started on the process. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/giving-back-during-the-holiday-season Title: Giving Back During the Holiday Season - Baton Rouge Telco Federal Credit Union Meta Description: It's the most wonderful time of the year and for most, that means spending quality time with family and friends. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/giving-back-during-the-holiday-season ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Giving Back During the Holiday Season H2: Spread Cheer Through Food Donations in the Red Stick Area H2: Volunteer Time and Talent H2: Host a Volunteer Event H2: Simple Ways to Spread Cheer H2: Adopt a Family for the Holidays H2: It's the Season to Give Back H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Giving Back During the Holiday Season H2: Spread Cheer Through Food Donations in the Red Stick Area H2: Volunteer Time and Talent H2: Host a Volunteer Event H2: Simple Ways to Spread Cheer H2: Adopt a Family for the Holidays H2: It's the Season to Give Back H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. It's the most wonderful time of the year and for most, that means spending quality time with family and friends. The holiday season is a time for joy and goodwill. Many look forward to spending quality time with family, friends, and loved ones. However, the holidays are also about giving back and sharing with those less fortunate in our communities. There are many volunteer opportunities to support neighbors in need in Baton Rouge. But that’s often easier said than done. Where do you donate? What do you do? How can you help? We’ve put together a list of several creative charitable ideas for you to help people in need. Remember, even small acts of kindness can brighten the season for others while enriching our own lives. Read on to discover several inspirational ideas for giving back locally this holiday season. If you're a culinary enthusiast, the holiday season offers a golden opportunity to extend your skills beyond your kitchen. Whether you're in the Garden District or Mid City, consider the following avenues for impactful food donations. Buy extra canned goods or other non-perishable items and drop them off at the Greater Baton Rouge Food Bank. Even small donations of a few additional items can help feed struggling families during the holiday season. Get children involved in giving back by having them bake holiday cookies, treats, or other homemade goodies. You can then deliver them to local Baton Rouge shelters and outreach programs. This teaches kids the value of caring for others in fun, hands-on ways. Consider baking your famous homemade casserole or pie to share at soup kitchens. Those in need appreciate warm comfort foods at this time of year. You can also cook a full homemade Thanksgiving or Christmas dinner for a financially struggling family. Donating holiday feasts throughout the East Baton Rouge Parish can bring joy to families who would otherwise go without. Spending just a few hours at local food banks and shelters provides welcome support during their busiest time of year. With more families facing food insecurity and housing instability, these organizations need extra hands to keep up with increased demand. Donating a couple of hours helps ensure everyone in our community gets care and a holiday meal. Lend your expertise in tutoring, office administration, or grant writing to nonprofits in Baton Rouge. This enables them to expand their reach and uplift those in need during the holidays. Your skill contribution becomes a gift that empowers organizations to make a lasting difference in the community. Consider offering free childcare to parents struggling financially. Babysitting kids for an evening or weekend frees up time for parents to work extra shifts, run errands, or simply relax. Providing this thoughtful gift shows special care for our community. Getting personally involved with local groups builds bonds and lifts up our Baton Rouge neighbors. You can make the holidays brighter for those in need through even small acts of service. Together, our efforts create a community that strongly supports each other during the holiday season. Why not gather friends, family, coworkers, or community members to multiply your giving back this holiday season? Organize a group volunteer event for broader impact: Select a venue in the Capital Area, recruit volunteers, and decide on an activity. You could focus on a specific Baton Rouge neighborhood, like the Perkins Rowe area, to bring attention to local issues. Scout local nonprofits for volunteer needs. Select a fun-themed activity like assembling meal boxes, wrapping gifts, decorating shelters, or singing carols at a senior home. Then recruit volunteers and choose an event date and location. Be sure to provide supplies and tools! Promote the event through social media, flyers, email, and word-of-mouth. Share logistics and build excitement. On event day, oversee setup, welcome guests, supervise activities, and facilitate clean up. Make it rewarding and consider giving all volunteers a small “Thank You!” gift. To inspire others, take photos and videos to recap and share on social media. Group volunteering builds community spirit and lets many people join in spreading holiday generosity. The pictures and videos could prompt even more volunteers to join next year’s event. Small gestures of kindness can have a significant impact on others. Consider these simple ways to bring cheer to your community this holiday season: Write uplifting cards or letters and deliver them to local nursing home residents, such as those in Shenandoah or Broadmoor. Your kind words will provide lasting comfort and joy to those away from their families during the holidays. Donate gently used coats, blankets, and other cold-weather gear to local shelters to help keep people warm this winter. Or, offer rides to elderly and disabled neighbors who need transportation to holiday gatherings and services. Support small businesses in your community by shopping at local markets and craft fairs. Your purchases will boost the local economy and contribute to the vibrancy of your community. Plus, you'll discover unique gifts and treasures you won’t find elsewhere. One meaningful way to make the holidays special for needy families is to "adopt" them for the season. You can provide food, gifts, and fellowship to a household facing financial hardship. Follow up in the new year with additional support as needed because your caring relationship can extend beyond the holidays. Adopting a family maximizes the impact of your giving and creates human connections. You can truly change lives with this hands-on support. The holidays are a time for joyful giving. Whichever way you choose to care for your Baton Rouge neighbors this season, your generosity can make a difference. From volunteering time to donating food, clothes, or gifts—we can all do something to make the season a little brighter. Have a wonderful holiday! Learn How BR Telco Is Giving Back to Our Community Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/guide-to-home-equity-lines-of-credit-helocs Title: Guide to Home Equity Lines of Credit (HELOCs) - Baton Rouge Telco Federal Credit Union Meta Description: When many think about getting a loan for something, they often turn to personal loans, home equity loans, or credit cards. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/guide-to-home-equity-lines-of-credit-helocs ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Guide to Home Equity Lines of Credit (HELOCs) H2: What Is a Home Equity Line of Credit? H2: How Does a Home Equity Line of Credit Work? H2: When Should You Consider a Home Equity Line of Credit? H2: Home Equity Line of Credit Alternatives H3: Personal Loans H3: Cash-Out Refinance H3: Credit Cards H3: Home Equity Loan H2: What Should You Look for In a Home Equity Line of Credit? H2: Should You Choose a Home Equity Line of Credit? H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Guide to Home Equity Lines of Credit (HELOCs) H2: What Is a Home Equity Line of Credit? H2: How Does a Home Equity Line of Credit Work? H2: When Should You Consider a Home Equity Line of Credit? H2: Home Equity Line of Credit Alternatives H3: Personal Loans H3: Cash-Out Refinance H3: Credit Cards H3: Home Equity Loan H2: What Should You Look for In a Home Equity Line of Credit? H2: Should You Choose a Home Equity Line of Credit? H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. When many think about getting a loan for something, they often turn to personal loans, home equity loans, or credit cards. When many think about getting a loan for something, they often turn to personal loans, home equity loans, or credit cards. But there’s another type of loan that’s worth exploring that may be a better option in some cases—a home equity line of credit. A home equity line of credit (HELOC) is a type of loan that can be used for many different purposes. It functions differently than traditional loans in how money is distributed and repaid. Unlike some loans, you have a great deal of freedom in how you use the money you borrow with a HELOC. Just a few things that HELOCs can be used for include: HELOCs use the equity in your home as collateral. How much you can borrow with a HELOC depends on the lender and the amount of equity you have in your home. HELOCs function more like credit cards than conventional loans. Instead of borrowing a certain amount and then repaying it with fixed monthly payments, with a HELOC you get a line of credit that you can draw from as needed. Similar to a credit card, a HELOC credit limit can be replenished by paying back the money you borrow. HELOCs may be active for up to 10 years, which is called the draw period. An important benefit of HELOCs is that you make interest-only payments on the money you borrow during the draw period. The money will eventually have to be repaid, of course, and a balloon payment will be required at the end of the draw period for the unpaid balance. HELOCs also usually have variable interest rates. This could cause your interest payments to increase if rates go up sometime in the future. HELOCs are ideal for situations where you don’t know exactly how much money you will need for something or when you will need it. A HELOC may also make sense for something expensive that you are considering buying with a credit card. Interest rates for HELOCs are usually significantly lower than rates for credit cards. Even with their variable interest rates, the savings from using a HELOC instead of a credit card can be significant. Finally, a HELOC may also make sense if you need to buy something but you aren’t able to repay the borrowed money right away. A business that experiences seasonal fluctuations is an example. A HELOC could be used during the slow season and the money repaid when it gets busier. Although a HELOC is a great way to tap into the equity you have in your home, they aren’t ideal for all situations. The following are four HELOC alternatives to consider to help you select the best financing option for your needs. A personal loan is an unsecured loan that can be used for many different purposes. You receive the full amount of the money you borrow upfront and then repay it over time with fixed monthly payments. Personal loans have lower interest rates than credit cards, and they usually don’t have any closing costs. The application process for obtaining a personal loan is very simple, and loan decisions are usually made the same day. The terms for personal loans vary but are typically between one and five years. A cash-out refinance is another way to tap into your home’s equity. With this financing option, you refinance your home for more than you currently owe. You then receive the difference in a lump-sum payment. A cash-out refinance might be a good option if current interest rates are lower than the rate you are paying. It’s important to keep in mind that you will have to pay closing costs if you refinance your home. Credit cards can make sense if you are making a purchase that isn’t overly expensive and that you know you can repay the money in a relatively short period. Credit cards usually have very high interest rates. The main benefit of using a credit card is that you don’t have to apply for a loan. A purchase can be made with the swipe of a card. A home equity loan is similar to a personal loan except that the equity in your home is used as collateral. Interest rates for these loans are usually lower than rates for personal loans. When shopping for a HELOC, it’s important to consider the HELOC fees that some lenders charge. A few fees you should be on the lookout for include: Some lenders have more fees than others, so it pays to shop around to find the best deal. Also, some lenders offer HELOCs that don’t have any fees. The fewer fees you have to pay, the more money you can save. A HELOC is a great way to tap into your home’s equity. It is highly flexible, interest rates compare favorably to other loans, and you have the option of making interest-only payments until you are better positioned financially to repay the borrowed money. Before you select a loan, be sure you take the time to carefully evaluate the pros and cons of each financing option. Refinance vs. Home Equity Line of Credit: What’s the Difference? Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/how-can-transferring-your-credit-card-balance-save-you-money Title: How can transferring your credit card balance save you money? - Baton Rouge Telco Federal Credit Union Meta Description: A balance transfer means moving all or part of your debt from one or more credit cards to another credit card. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/how-can-transferring-your-credit-card-balance-save-you-money ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: How can transferring your credit card balance save you money? H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: How can transferring your credit card balance save you money? H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. A balance transfer means moving all or part of your debt from one or more credit cards to another credit card. A balance transfer means moving all or part of your debt from one or more credit cards to another credit card. This is an awesome way to take advantage of a much lower interest rate. You don’t pay off your debt, you are simply transferring it to another card. Let’s look at the benefits of a balance transfer. Lower Interest RateIf you are carrying a high balance on a credit card with a high interest rate, this can be one of the leading advantages of a credit card balance transfer. You can pay down your debt faster by lowering the total amount you are paying in interest. This allows you to focus on tackling more of the debt balance each month. Consolidate Debt from Multiple Credit CardsMany people are overwhelmed with multiple monthly credit card payments. A credit card balance transfer will allow you to consolidate the balances of several credit cards into one card. Simply your life and finances! You’ll enjoy not only a lower interest rate, but you will also have one convenient monthly payment. You’re able to focus on paying off your debt more effectively. Get Out of Debt FasterPaying down your debt quicker is one of the most common reasons people take advantage of credit card balance transfers. The lower interest rate gives you that extra savings needed to pay off your credit card balances faster. Generally, the balance transfer could have a positive impact on your credit history if you are able to pay down your debt faster (improving your debt-to-credit ratio). Credit Card with Better TermsIn addition to a higher interest rate, your current credit cards might have higher fees, a shorter grace period or other dreadful terms. Who likes that? Some credit cards have transfer, annual fees and come with a short grace period. An annual fee is a yearly charge by financial institutions for use of their credit cards. Generally, you might see some annual fees as low as $35 and others as high as $500 or more. And a transfer fee is the fee charged when you transfer credit card debt from one card to another. They typically add up to 3% or 5% of the total balance you transfer. Your grace period is a set period of time that you have to pay off your balance before you are charged interest. This gives you time after you receive your monthly statement to pay your bill without being penalized. Which card is the best card for a balance transfer? It depends. Not all credit cards are the same. You’ll need to find the right credit card for your financial situation and goals. Are you looking for a card with a low rate? No balance transfer fees? No annual fees? Telco has the perfect card for you. Check out our Visa Gold card. If you are trying to figure out if a balance transfer makes sense for you, crunch the numbers using Telco’s calculator – Are Balance Transfers Worth It Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/how-many-personal-loans-can-you-have-at-once Title: How Many Personal Loans Can You Have at Once? - Baton Rouge Telco Federal Credit Union Meta Description: Personal loans can be advantageous for people who need an extra source of cash to pay for a necessary expense or another cost. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/how-many-personal-loans-can-you-have-at-once ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: How Many Personal Loans Can You Have at Once? H2: Can You Take Out Multiple Personal Loans? H2: Getting Approved for Multiple Personal Loans H2: The Pros and Cons of Taking Out Multiple Personal Loans H2: How Many Personal Loans: What Is Right for You? H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: How Many Personal Loans Can You Have at Once? H2: Can You Take Out Multiple Personal Loans? H2: Getting Approved for Multiple Personal Loans H4: Credit Utilization Rate H4: Debt-to-Income Ratio H2: The Pros and Cons of Taking Out Multiple Personal Loans H4: The Cons H4: The Pros H2: How Many Personal Loans: What Is Right for You? H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Personal loans can be advantageous for people who need an extra source of cash to pay for a necessary expense or another cost. Personal loans can be advantageous for people who need an extra source of cash to pay for a necessary expense or another cost. While many people use personal loans for home renovations, weddings, medical bills, and debt consolidation, they can be used for virtually anything. But personal loans can do more than help you access funds. When managed wisely, they can also help you improve your credit profile — either by helping you establish credit or improving your credit score. While personal loans are often an excellent option due to their low rates when compared to credit cards, this isn’t always the case. Assessing your financial situation and goals can help you decide whether a personal loan is right for you. However, you may also be in the position of wondering whether taking out multiple personal loans is even an option. Here’s a closer look at the question of how many personal loans you can have at one time. Theoretically, there is no hard and fast rule regarding how many personal loans you can have at a time. The answer to this question isn’t a straightforward one. It relies on several issues. For starters, different lenders have different rules. Some institutions may allow you to take out multiple personal loans. Others may have rules against it or may have certain restrictions, such as waiting periods and other requirements. For example, you may need to have completed a specified number of on-time payments on an existing personal loan to be eligible for another. If you can’t get multiple personal loans from the same lender, you also have the option of exploring different lenders. However, you will need to qualify for every personal loan you want to take out. Read More: Secured vs. Unsecured Personal Loans When you try to get approved for multiple personal loans, your chances of approval may come down to factors like your credit utilization ratio and debt-to-income ratio (DTI). Credit utilization ratio is a major contributing factor to your credit score. Also called debt-to-credit ratio, it measures the amount of available credit you’ve got within your credit limit. For example, if you have a total credit limit of $50,000 and your current balances add up to $25,000 then you’ve got a credit utilization ratio of 50%. A general rule of thumb holds that your credit utilization rate should not exceed 30 percent, although keeping it within 10 percent is the best way to ensure access to the most favorable rates. When you apply for a personal loan, lenders also consider your debt-to-income ratio (DTI). This refers to the amount of debt you have compared to your total income. It is calculated by dividing your gross monthly income by all of your monthly debt payments. Lenders use this number to determine if you’ll be able to manage your monthly payments to repay your personal loan. A higher DTI ratio is an indication that you may struggle with making payments. Typically, lenders consider a DTI of 36 percent or below a safe bet. However, they may make exceptions based on your credit history. Additionally, certain lenders — such as federal credit unions — may be more lenient when it comes to approval. Every personal loan you take out has a direct impact on your DTI. In theory, you could take out multiple personal loans so long as you keep your DTI within an acceptable range. Read More: What is a Good Interest Rate on a Personal Loan? If you need additional cash beyond what’s provided by an existing personal loan, taking out additional personal loans can help. However, it’s also important to keep in mind that there are other potential downsides to taking out multiple personal loans. To begin with, when you apply for a personal loan, the lender conducts a hard credit check, which can lower your credit score. If this happens multiple times, the impact on your credit score — and your ability to borrow money — can become significant. Additionally, the more personal loans you have, the higher the risk of missing a payment or defaulting on one or more of them. Because personal loans can be reported to credit reporting agencies, they can also have a detrimental impact on your credit score if you do miss a payment or default completely. Finally, each personal loan you take out adds to your DTI, which can impact your ability to borrow for a mortgage, car, or other expense. Read More: Are Personal Loans a Bad Idea? On the flip side, every personal loan you take out is a long-term opportunity to build credit and improve your credit score. Every time you make a prompt payment, you position yourself for a potential credit score bump. Taking out an additional personal loan can have a positive impact on your credit score if you use it for debt consolidation. On that note, many lenders don’t charge prepayment penalties. If you won’t be charged for paying off a personal loan early, you may have the option of consolidating multiple personal loans into one with a single payment. The takeaway for borrowers considering taking out multiple personal loans? Under the right circumstances, doing so can be a beneficial strategy — as long as you research all your options, only borrow what you need, and are careful to make all of your monthly payments on time. Speaking of researching your options, credit unions offer many benefits to borrowers, including higher approval rates, better fees and terms, and more personal service. Enter Baton Rouge Telco’s simple, flexible personal loan options. Learn more about Baton Rouge Telco’s personal loans today! Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/how-much-house-can-i-afford Title: How Much House Can I Afford? - Baton Rouge Telco Federal Credit Union Meta Description: Buying a house is exciting, especially as you begin to tour new places and eventually find what’s perfect for you. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/how-much-house-can-i-afford ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: How Much House Can I Afford? H2: Your DTI and Housing Ratios H2: Know Your Credit History H2: The Importance of the Loan-To-Value (LTV) Ratio H2: The Down Payment H2: Lowering Your DTI H2: How Much House Can I Afford? Let Us Help! H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: How Much House Can I Afford? H2: Your DTI and Housing Ratios H2: Know Your Credit History H2: The Importance of the Loan-To-Value (LTV) Ratio H2: The Down Payment H2: Lowering Your DTI H2: How Much House Can I Afford? Let Us Help! H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Buying a house is exciting, especially as you begin to tour new places and eventually find what’s perfect for you. Buying a house is exciting, especially as you begin to tour new places and eventually find what’s perfect for you. But what if you’re wondering, “how much house can I afford?” Set realistic expectations by considering your finances, borrowing options, and the total costs of buying a home. Keep reading for more tips on how to determine how much house you can afford. Mortgage lenders calculate your current debt based on how much money you make. This is known as your debt-to-income (DTI) ratio. The most important ratio referenced by lenders is your front-end and back-end ratios. Your front-end ratio is calculated by taking your proposed housing expense divided by your gross, pre-tax income. Keeping this percentage right around 28% is the most competitive offering you the best options as a homebuyer. The other ratio involves all your current loan payments – including housing expenses and monthly debts (but not utilities or other living expenses) divided by your gross monthly income. Keeping this number right around 36% ensures you won’t be stretching limits in affording a new home. This is referred to as your back-end ratio. When you apply for a mortgage, your credit reports from the three main bureaus – Equifax, Experian, and TransUnion – will be obtained to determine your creditworthiness. This provides a summary of your credit history including your credit card accounts, loans, balances, and payment history. Lenders will also analyze how much of your available credit you actively use, known as credit utilization. Maintaining a credit utilization rate at or below 30 percent boosts your credit score and demonstrates that you manage your debt wisely. These determine your FICO score, a credit score model used by lenders, ranging from 300 (poor) to 850 (exception). A Loan-to-Value ratio, or LTV ratio, is a key factor in determining your ability to qualify for a mortgage and how much home you can afford.  The LTV ratio represents the amount of your mortgage divided by the value of the home you’re planning to buy. Your LTV ratio is important because lenders want to be confident that you’ll be able to fully repay the loan. This ratio is the most limiting factor on the price of a home you can purchase. At Baton Rouge Telco, we ideally want to see an 80% LTV, meaning a 20% down payment is preferred. Use this calculator to find the best option for your needs and budget. The down payment is how much you expect to put down or contribute to the purchase of your home. Whatever you don’t put down will likely have to be financed. Your down payment plays a big part in determining how much home you can afford. The more money you put down, the more home you can afford to buy. If you don’t have a lot of money saved, you could still get a mortgage with little-to-no money down; it would just decrease the amount of house you could afford to buy. You can use money from savings, investments, or other sources to make up your down payment. It is recommended that you put down 20% of the home’s purchase price; although government-specific loan types may enable you to put down as little as 3.5% or nothing at all. Lowering your DTI can have a big impact on the type of financing you can get. If you have some flexibility when you plan on buying, taking time to lower your DTI (and improve your credit score) can save you a lot of money over the life of your loan. If you plan on making any big purchases – such as a car or new appliances – wait until after you’ve bought your home. This will ensure you are not overextending yourself with a variety of debts. If you plan on living with a partner, parent, or roommate in your new home, bring this up early on in the approval process. Lenders could be able to include some of their income in your DTI calculation. At Baton Rouge Telco, we can help you answer the question, “how much house can I afford?” We offer a variety of home loans made for your needs! Home affordability is front of mind since our staff of experts handles everything locally. That means fast approvals and even faster closings. Click below to get started today on choosing the best home loan for you! Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/how-much-you-should-keep-in-a-checking-account Title: How Much You Should Keep In A Checking Account - Baton Rouge Telco Federal Credit Union Meta Description: Checking accounts are a necessity for most people since they make paying bills, buying groceries, and other expenses much easier than they would be with cash alone. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/how-much-you-should-keep-in-a-checking-account ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: How Much You Should Keep In A Checking Account H2: How Much Should You Keep In a Checking Account? H3: Monthly Expenses H3: Minimum Balances and Fees H3: Limits on transfers between accounts H3: Paycheck schedules and direct deposit H2: Reasons To Limit How Much To Keep In Checking H3: ‘Low’ Interest H3: Security H2: What To Do With Your Extra Money H3: Savings Accounts H3: Money Market Accounts H3: Regular Certificates H3: IRA Certificates H3: Open Market Investing H2: Account Comparison & Real-World Scenarios H2: Baton Rouge Telco: Smart Checking for Smart People H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: How Much You Should Keep In A Checking Account H2: How Much Should You Keep In a Checking Account? H3: Monthly Expenses H3: Minimum Balances and Fees H3: Limits on transfers between accounts H3: Paycheck schedules and direct deposit H2: Reasons To Limit How Much To Keep In Checking H3: ‘Low’ Interest H4: Interest Earned by High-Yield vs. Regular Checking Over 12 Mo. H3: Security H2: What To Do With Your Extra Money H3: Savings Accounts H4: Interest Earned by Savings Accounts vs. Traditional Checking Over 12 Mo. H3: Money Market Accounts H4: Interest Earned by Money Market Accounts vs. Traditional Savings Accounts Over 12 Mo. H3: Regular Certificates H4: Certificate Earns by Term with Deposit of $500 H3: IRA Certificates H4: IRA Certificate Earnings by Term for a Single Deposit of $500 H3: Open Market Investing H2: Account Comparison & Real-World Scenarios H2: Baton Rouge Telco: Smart Checking for Smart People H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Checking accounts are a necessity for most people since they make paying bills, buying groceries, and other expenses much easier than they would be with cash alone. Your checking account is the hub of your financial life, essential for receiving money, paying bills, buying groceries, and other expenses. While having it readily available and easily accessible is important, how much of your money should you keep in your checking account? In this blog, we take a look at the considerations that go into deciding how much money to keep in your checking account and explain why it’s important to spread your money among several accounts. We also explore the pros and cons of the most popular places to stash your cash. Click through the links below to discover where to put your money! How Much Should You Keep in a Checking Account? Reasons to Limit How Much to Keep in Checking What To Do With Your Extra Money? ‍Account Comparison & Real-World Scenarios How much money you should keep in your checking account depends on your financial situation and spending habits. You want as much money as you need in your checking account to cover your expenses while not holding on to cash that could be better used elsewhere. Here are some of the key considerations that should go into deciding what checking account balance works best for you. First up, your checking account balance needs to be able to cover all your monthly costs as well as absorb any unexpected expenses. A good general guideline is to keep enough to cover one to two months of regular expenses, including rent, mortgage payments, bills, and groceries. This will help you avoid overdraft fees and ensure you can cover unexpected costs without dipping into your savings. How does that look in real figures? Well, let’s say your monthly household expenses add up to $7,000. You’d want to keep up to $14,000 in your account to manage unexpected expenses. Here’s how that would look for different monthly expense bills: If your income is stable and direct deposits are regular, you may be able to keep a smaller balance in checking and move extra funds to savings or investments for better returns. However, be sure you consider any minimum balance requirements from your bank so you avoid low balance fees. Look for a checking account with a low minimum balance for maximum flexibility. There’s a big difference between a checking account that requires a $5 minimum balance versus one that requires $100! If you have limits on how often you can transfer money from your checking or money market accounts, you’ll want enough of a cushion in your checking account to keep those transfers to a minimum. Your regular spending shouldn’t require you to make transfers from other accounts. Also, remember to take your direct deposit and other regular payment schedules into account when determining how much you should keep in your checking. If you have a biweekly salary direct deposit that processes fairly quickly, you might be able to get away with having a little less in your checking account. Although it’s important to have enough in your checking account to cover your expenses, it is sometimes best to keep extra funds elsewhere. Here’s why: Checking accounts traditionally don’t usually offer much — if any — interest. Usually, your funds are more productive in other accounts that offer higher returns, such as savings, money market, or retirement accounts. You risk missing out on interest or dividends if you keep too much money in your checking account. That said, some checking accounts now offer significant interest or dividend payments that can offer higher yields on your “working” cash. Those earnings can be significant. The following table shows how $10,000 invested in a high-yield checking account will increase over 12 months compared with a regular checking account. As you can see, the high-yield account earned more than $1,700 in interest over a year. That’s a strong argument for keeping more cash in a high-yield checking account like Baton Rouge Telco’s high-yield Premier Checking Account, rather than other, less flexible, accounts. If you lose your debit card or your card number is stolen, for example, it’s very easy for someone else to use it. That could result in high losses due to fraudulent charges, and you might even be held responsible for paying those charges if you don’t catch them promptly. Fraudulent charges from your account are fairly easy to notice and resolve, but it is still a risk. By limiting the amount of money you keep in your checking account, you keep your potential losses to a minimum. If you choose not to let your excess funds sit in a high-yield checking account, there are several ways to put them to good use in other types of accounts. A savings account offers a secure place to keep money you do not currently need while keeping it close in case conditions change. It’s a good place to build up an emergency fund. This is the equivalent of 3-6 months of expenses to tide you over in case of an unforeseen accident, emergency, or loss of income. Pros: Safe, steady growth with interest rates generally higher than those you’ll find in a traditional checking account. Easy access to your cash if you need it. Cons: Limited number of transactions per month. Interest rates tend to be higher than traditional checking, but lower than many other savings options. Here’s how $500 invested in a savings account will perform over a year compared to a typical traditional checking account. Money market accounts operate similarly to savings accounts but generally require a minimum balance of $500 or more to avoid minimum balance charges. In return, you’ll usually get a much higher interest rate, plus enhanced banking services such as check-writing privileges or even a debit card. Pros: Steady growth with significantly higher interest than traditional savings accounts. Sometimes offer checking privileges or a debit card. Cons: High minimum balances to open an account and earn interest or dividends. Limited number of transactions per month. Here’s how $2,500 invested in a money market account will perform over a year compared to a typical traditional savings account. Certificates of deposit or share certificates are term investments rather than deposit accounts. Unlike checking and savings accounts, you contribute an amount for a set period in return for a guaranteed dividend at an agreed payout date. Certificate accounts are offered by most credit unions and banks, with a minimum contribution usually around $500. With terms ranging from just a month or two to up to five years, it’s a safe and predictable way to grow your savings, especially when you opt to reinvest your earnings at the end of each payment cycle. Pros: Higher interest rates. Fixed, guaranteed returns over a variety of terms. Principal and earnings are insured by the federal government. Cons: Opening deposits are higher than traditional savings accounts. Money is unavailable to you during the term unless you pay a significant fine. Here’s how the same amount of money invested in a range of different certificate products offered by Baton Rouge Telco performs over their various terms. It’s wise to begin putting at least some money aside for your retirement as soon as you can. Individual retirement accounts (IRAs) offered by credit unions and banks enable your money to grow in a savings account and offer significant tax advantages over time. Credit unions, in particular, allow you to put your retirement savings into IRA Certificates, which invest and reinvest your contributions, offering safe and predictable gains as well as all the tax advantages offered by other types of IRA. Pros: Build wealth by reinvesting in certificates. Take advantage of tax savings by paying tax either upfront or at the time of withdrawal depending on your circumstance. Cons: As with all IRAs money is usually unavailable until you reach the age of 59½. IRAs may deliver lower returns than money invested directly on the stock market. Here’s how certificates of different lengths help build retirement savings by continuously reinvesting your earnings for 10, 25, and 35 years. This measures only the effects of a single contribution. You would ideally contribute more to the IRA every month. It is also possible to invest your money directly in stocks, bonds, or securities. These investment vehicles offer both dividend payments while you hold them as well as a potential cash gain when you choose to sell. You could earn far more in dividends than you would keeping your money in a bank account, but your earnings and principal are not guaranteed, as they are in bank or credit union accounts and certificates backed by the FDIC and NCUA respectively. That means there is a real chance you could also lose money on your investment trades. Pros: Earn far more in dividends and increased asset value over time than guaranteed savings products. Sell and reinvest as you see fit, no waiting for your funds. Cons: You risk losing both your earnings and principal if prices drop and you are forced to sell. Funds require active management through a fee-charging brokerage. Use the following table to compare different types of accounts and their best uses to determine which product works for your money needs. In the end, the products you choose for your portfolio depend on both your short-term and long-term personal finance goals. Here are some common money scenarios and the best account mix to handle them. It’s important to always have the right mix of financial products for where you are in life. No matter your stage, you’ll find an affordable traditional checking account or high-yield interest-paying account are powerful tools for making the most of your resources. Only locals know what a great place Baton Rouge, Louisiana is to put down roots. With lower prices at the supermarket checkout and some of the most affordable housing in the nation, it’s a perfect place to settle down and start a family. And that doesn’t even include some of the best southern BBQ you’ll find anywhere. Whether you’re starting out or beginning something big, Baton Rouge Telco is here for you with smart products that help your money go further. That includes our affordable Elite Checking Account as well as our high-yield Premier Checking Account. Take your pick of low minimum balances, generous dividend rates, and quick settlement of your direct deposits so you can get on with life. Whether you’re saving, building, or securing your future, a Baton Rouge Telco checking account is a great way to start. Click below now to get started with opening the right checking account for you! How to Open a Checking Account *APY = Annual Percentage Yield. Dividend rates are subject to change without notice. Dividends are posted monthly based on the daily balance and compounded monthly. Baton Rouge Telco Federal Credit Union Share Certificate rates are variable rate accounts and are subject to change at any time. Rates are not guaranteed. Penalties for early withdrawals may apply. Fees may reduce earnings on the account. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/how-opening-a-checking-account-affects-your-credit-score Title: Does Opening a Checking Account Affect Your Credit Score? - Baton Rouge Telco Federal Credit Union Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/how-opening-a-checking-account-affects-your-credit-score ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Does Opening a Checking Account Affect Your Credit Score? H2: Bank on It: Checking Accounts and Your Credit Score H3: Hard vs Soft Inquiries: H3: Signing Up for Overdraft Protection H3: Failing to Pay Overdraft Fees H3: Closing an Account With a Negative Balance H2: Maintaining Healthy Credit and ChexSystems Reports H2: Checking Accounts That Work for YOU H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Does Opening a Checking Account Affect Your Credit Score? H2: Bank on It: Checking Accounts and Your Credit Score H3: Hard vs Soft Inquiries: H3: Signing Up for Overdraft Protection H3: Failing to Pay Overdraft Fees H3: Closing an Account With a Negative Balance H2: Maintaining Healthy Credit and ChexSystems Reports H2: Checking Accounts That Work for YOU H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Opening a checking account is often the first step towards financial independence, but have you ever wondered if opening one can affect another crucial part of your financial footprint—your credit score? Simply put, opening and using a checking account is unlikely to affect your credit score, especially if you use your account responsibly. Actually, opening and using a bank account wisely can even be used to improve your credit score. In this blog, we’ll explain why everyday activity in your checking account has little effect on your creditworthiness but we’ll also take a look at some of the situations when it can affect your score. We’ll also consider some of the ways banks and credit unions monitor your account and how you can use this to your advantage. Read on to learn more. Your checking account is your financial clearing house. It’s the place where your paycheck lands and from where you distribute money to bills, regular or discretionary expenses, and savings. It’s really all about spending what you already have. Your credit score, on the other hand, is focused on your debt. Credit bureaus pay close attention to how you pay your mortgage, pay back loans, and manage a credit card account. That means regular activities like opening your account and making deposits and withdrawals will not affect your credit scores. In reality, your credit score rarely has anything to do with your checking account and when it does, it’s usually because it involves—or might involve—debt. Here’s how that might work: A soft “pull” or inquiry on your credit report reveals only your credit score. Banks and credit unions might do this as an added precaution when reviewing your application for opening a checking account. However, a hard “pull” will reveal your actual credit history, including any past or existing accounts of yours that have been sent to collections. Very rarely, a bank or credit union will run a hard inquiry as an extra check before letting you open an account. If they do, this will knock your credit score down for a few months. Signing up for overdraft protection is more likely to trigger a hard inquiry on your account because your financial institution considers this a type of borrowing. They’ll want to check for a history of delinquent accounts or negative account balances before approving you. The direct effect of this will again be small and should disappear after 12 months. Your credit score will be affected negatively if you fail to set up overdraft protection and then overdraw your account. Acting quickly to bring your balance to the black within 24 hours might prevent it from showing up on your credit history. If you don’t, your account might be turned over to a collections agency, which will hurt your credit even more. If you close an account with a negative balance, your financial institution may send it to a collections agency. If that happens, the debt will likely be reported to the credit bureaus and will probably affect your score. This can happen easily if your bank applies a fee after you ask them to close an account. ChexSystems and Checking Accounts While opening a new checking account won’t affect your credit history if you are using it responsibly, banks do monitor activity on your checking and savings accounts in other ways. Almost all of your banking history is monitored by credit monitoring agencies like ChexSystems and Early Warning System (EWS). These agencies used a rating system similar to your credit score to look for risky behavior in managing the money in your bank accounts. Activity that credit monitoring agencies are likely to flag includes: Building healthy money management habits can help to protect your good credit. You can prevent your checking and savings account activity from harming your credit score or ChexSystems report by: Believe it or not, managing the money in your checking account wisely can actually help improve your credit score. Services like ExperianBoost and UltraFICO® allow credit bureaus to track your on-time bill and rent payments, to check average balances and transaction frequency in your accounts directly, and to analyze this information to boost your credit score. This is very useful to renters, who otherwise miss out on the credit boost that homeowners get for paying down a home loan over time. It’s also very helpful to people just starting to build a credit history, because it allows them to establish their creditworthiness sooner. Financial independence starts with your checking account. Being smart about your money helps you build for the future by saving and helping to protect (or even improve) your credit score. At Baton Rouge Telco, we offer our members three different checking account options: Contact us today to find out more or click below to learn how opening a checking account can help you take charge of your money today. Why Open a Checking Account Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/how-to-buy-a-car-with-a-pre-approved-loan Title: How To Buy A Car With A Pre-Approved Loan - Baton Rouge Telco Federal Credit Union Meta Description: Purchasing a car can be an exciting process, but it can also come with a lot of confusion, anxiety, and stress. 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You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Purchasing a car can be an exciting process, but it can also come with a lot of confusion, anxiety, and stress. Purchasing a car can be an exciting process, but it can also come with a lot of confusion, anxiety, and stress. How do you decide how much car you can afford? How do you take out a loan? Where do you get a loan? All of these questions can be overwhelming. We’ve compiled some information to de-mystify the loan approval process, the benefits of getting pre-approved for a loan, and how to buy a car with a pre-approved loan. If you’ve decided to purchase a car rather than lease one, the first thing you need to consider is what kind of car you need and what kind of car you can afford. If you’re planning to finance a car, some experts recommend spending no more than 10-20% of your gross income per month on your car – including all of the associated expenses: car payment, insurance, interest, parking, maintenance, fuel, etc. Based on this estimate, you can determine if financing a car is a good choice for you. If you’d prefer to spend your savings in one transaction and not worry about monthly payments, paying for a used car in full may be a better option for you. If you purchase a new car or even a gently used one, you will likely have to take out a loan to pay for the car. Once you’ve decided on your monthly budget, you can start looking for loans. You should keep in mind that experts recommend you pay at least a 20% down payment. Based on your monthly budget, how much you can afford for a down payment, and the length of time that you would like to have the car loan, you can narrow down your loan options. Another important consideration when looking for loans is your credit score, which will play a large role in determining the options that you have for financing. Start by looking at your local financial institutions and credit unions. If you’re a member, you can often get discounted interest rates and fees. You can then use a car loan calculator to compare the loans you find. Be sure to factor in all of the associated fees. This will give you an idea of both the monthly payment you’ll be making and the total cost of the loan after insurance. Getting pre-approved for a loan can be one of the wisest steps to take when shopping for a car. Often, when you head to a dealership, even with a budget in mind, car sales associates may try to lead you to more expensive options. Also, they’ll probably offer their own financing solutions, and with some numerical manipulation, can make almost any car fit your budget. This sounds enticing, but it may land you a loan that you can’t afford, typically for over a longer time period. It’s a better idea to have your monthly and total budget worked out beforehand. That way, you don’t get talked into a car that’s not a good fit for your budget. Plus, having a pre-approved loan in hand can give you some bargaining power! Dealerships may try to offer you financing via their affiliated financial institutions or loan companies at a lower rate than you have found elsewhere. Just beware of additional fees, and make sure that if you take their offer, it really is better. Again, check out a loan calculator to compare. Pre-approval is when you apply for a loan before you need it. This means that you have the lender look at your finances and credit history and determine your approved loan amount and rates. Many financial institutions will allow you to apply for pre-approval online or in person. You need to provide financial information, employment information, and other supporting documentation.  If you are headed to apply in person, be sure to check out the documents that you will need to bring in advance. If you plan to apply for multiple loans from different companies, apply for all of them within a two-week period. Every “hard” inquiry into your credit report can lower your score, but if all inquiries are over two weeks, they will be registered as one inquiry on your credit report. If you’re uncertain about your credit score, you can apply for pre-qualification, which requires only a soft inquiry into your credit and does not affect your score. However, pre-qualification does not guarantee you will receive the loan. It just shows you the rates you will likely be approved for. Once you’ve laid out your monthly budget and figured out how much you’d like to spend per month and in total on your vehicle, you can start looking for loans. At Baton Rouge Telco, we offer a wide range of auto loans with competitive interest rates. We have experts on staff to help you work through the details of auto loans, so you won’t be alone through the process. Learn More About Auto Loans Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/how-to-get-a-visa-card Title: How To Get A Visa Card - Baton Rouge Telco Federal Credit Union Meta Description: You may have noticed when you’ve been out shopping that not all credit cards are accepted everywhere. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/how-to-get-a-visa-card ## Headings Structure: H2: You're about to leave our secure website. 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We are not responsible for any content or information posted to third-party sites. You may have noticed when you’ve been out shopping that not all credit cards are accepted everywhere. You may have noticed when you’ve been out shopping that not all credit cards are accepted everywhere. In fact, most places only take the most ubiquitous cards. Visa is one of these. If you’re debating what type of new credit card to get, Visa might be the best choice for you. Getting a Visa card is much like getting any other credit card. If this is your first card, though, you may be uncertain of the process. Here are some helpful tips for how to get a Visa card, how to use your card responsibly, and the benefits and perks that come with Visa. When you apply for a credit card, the number one factor in whether or not you get approved is your credit score. It’s a good idea to check and see what your credit score is before heading to apply for a card. This way, you can chat with representatives at your bank or credit union about whether or not you will be approved for a particular card. If you have a poor credit score, you can build it by paying back debt, making all bill payments on time, and limiting your credit use if you do already have a card. These are all factors that are weighed when calculating your final credit score. Credit card companies are abundant these days. There are lots of places you can look for a card. However, especially if this is your first card, your local credit union is a good place to start. Credit unions are nonprofit financial institutions that are owned by their members. This makes them highly customer-oriented. A credit union will have members on staff to help walk you through the process of applying for a card, getting approved, and using your new card. Most places offer an in-person and an online application process. So, if you need help it’s there for you. If not, you can apply from the comfort of your home. Depending on your credit score and credit history, there are multiple types of credit cards that might be right for you. Secured cards are cards that require you to deposit an amount of cash as collateral. This type of card is perfect for someone who is looking to build their credit or is just starting out with their first credit card. Your deposit acts as security for the credit card company in exchange for the opportunity to build your credit. If you don’t pay your bill, the credit card company can recoup some of the costs. Once you’ve paid your bill on time for some time, you can then graduate from a secured card to an unsecured credit card. Visa Secured comes with a minimum credit limit of $500, and a low rate of 7.90% APR. This is a safe bet for a first credit card. Even if you do find yourself in debt, the low APR means that your debt won’t take over your life. Getting a credit card with cash-back options is a great way to save money while you shop. Cards with higher rewards usually require a higher credit score to qualify. Baton Rouge Telco’s Cash Back Visa comes with 2% unlimited cash back on everything. Plus, your cash back rewards are deposited automatically into your account each month! Visa Gold is an excellent option for members who want the lowest rate on an unsecured card. You can also transfer your balances from high-rate credit cards to save APR on any debt you have. If you get your card through Baton Rouge Telco, we offer a no-fee balance transfer, meaning you can save money with no penalty. Visa itself has numerous perks and rewards for cardholders. The perks are even greater if you get a card through your local financial institution. Getting a Visa credit card through your local credit union allows you to link all of your cards together. This makes managing payments and transfers easier than ever. If you get your card through your local credit union, you can walk into a branch and walk out with a Visa card the same day. No long waits or watching out for the mail. This process is faster, safer, and more secure. In our digital world, contactless payments are becoming more and more common. One convenient feature is that you can keep all of your cards connected via your phone if they qualify for Apple Pay. It enables you to keep your cards safe at home and still have access to your accounts. Getting your Visa card through Baton Rouge Telco means that you can manage it using our 24/7 online banking platform. This makes it easy to stay on track with your payments, balances, and monitor your rewards. If you’re thinking about getting a new credit card, it’s tough to go wrong with a Visa. It’s universally accepted and comes with competitive rates and perks. You can find out more about the features and benefits that come along with a Visa card from Baton Rouge Telco below! Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/how-to-open-a-checking-account-step-by-step-guide Title: 6 Steps to Open a Checking Account - Baton Rouge Telco Federal Credit Union Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/how-to-open-a-checking-account-step-by-step-guide ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: 6 Steps to Open a Checking Account H2: 6 Steps for Opening a Checking Account H3: 1. Choose a Bank or Credit Union H3: 2. Choose Your Ideal Checking Account H3: 3. Gather Your Documentation H3: 4. Submit Your Application H3: 5. Set Up an Initial Deposit H3: 6. Sign the Documentation H2: How to Open a Checking Account Frequently Asked Questions H3: What If I Must Move My Money From Another Bank or Credit Union? H3: What If I Need to Close My Other Checking Account? H2: How Do I Get the Most From My Checking Account? H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: 6 Steps to Open a Checking Account H2: 6 Steps for Opening a Checking Account H3: 1. Choose a Bank or Credit Union H3: 2. Choose Your Ideal Checking Account H4: Premier Checking H4: Opportunity Checking H4: Elite Checking H4: Youth Checking Accounts H3: 3. Gather Your Documentation H3: 4. Submit Your Application H3: 5. Set Up an Initial Deposit H3: 6. Sign the Documentation H2: How to Open a Checking Account Frequently Asked Questions H3: What If I Must Move My Money From Another Bank or Credit Union? H3: What If I Need to Close My Other Checking Account? H4: Direct Deposit H4: Automatic Payments H4: Recurring Transfers H2: How Do I Get the Most From My Checking Account? H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. When you’re ready to open a checking account, you’ll have a few basic steps to follow. Thankfully, the process is relatively simple as long as you have your documentation ready and carefully follow the instructions. Knowing how to open a checking account sets you on the path to managing your finances effectively. Read on to learn how to do it online or in person. There are a few simple steps to take from beginning to end when you’re ready to open a checking account. While the process outlined below includes the most common steps, different banks and credit unions will have varying requirements. So before starting, you’ll want to confirm the application process and requirements. The first major decision you’ll need to make when opening a new checking account is choosing between a credit union or a bank. Credit unions often offer better options for opening a checking account for several reasons: There are many different types of checking accounts. Some offer higher interest rates, while others provide an opportunity to rebuild your financial history. Before you open a checking account, you’ll need to know which one suits your needs best. Here are several popular checking accounts you can choose from: This deposit account is ideal for those who use their debit cards often and want to earn interest on their checking account balances. There are no monthly fees or penalties. Enjoy a competitive Annual Percentage Yield (APY) on balances up to $10,000 to help achieve your savings goals. This account allows you to rebuild your financial history and receive your pay two days early with Direct Deposit. Enjoy a minimum $50 savings deposit and just $5 for checking accounts. Get a well-deserved second chance and an opportunity to build a brighter future with this account. A basic checking account that’s anything but basic. Enjoy a $5 opening minimum deposit, no monthly fees, and get your direct deposits up to two days early. Best of all, you’ll earn dividends on qualifying balances. Pre-teens and teens can learn how to save, spend, and budget thanks to the youth bank accounts we designed just for them. Our youth accounts include a range of features tailored to each age group. This helps to foster healthy money management habits during important financial developmental years. You must provide specific information on your checking account application that you’ll find on the documents below. You may also need to present copies of the documents to verify your identity and address. Although different banks and credit unions have varying requirements, you should have these ready for your application: Financial institutions may require extra information or documents depending on their policies or the account type. For instance, non-U.S. citizens may need to provide other forms of identification or proof of legal residence. Also, the process of applying online may differ from in-person applications. Most banks and credit unions offer the ability to open a checking account online. You can also visit a local branch to complete the process. Whichever you choose, your application should only take a few minutes. You must provide your personal identification information when you submit your application. This is why having your documentation ready in advance makes it easier for you to complete your application. The next step is to make an initial minimum opening deposit. Some checking accounts do not require an initial deposit or if so, it’s only a small amount. At Baton Rouge Telco, our three checking account options only require a $5 minimum deposit. If you have accounts at the same financial institution, you can easily transfer funds from an existing account to open a new checking account. If not, you’ll need to use an external account. Either way, you must provide all relevant account information and authorize transferring money to your new account. The last step is to sign your application. You must agree to the terms and conditions and confirm your information is correct. You can usually do this when you submit your application online. However, some credit unions and banks require you to mail in the signature page for their records. They won’t activate your new checking account until they receive and review your signed documentation. The above information provides a general overview of how to open a checking account. However, people often have additional questions about how the process works. Here are several FAQs about opening a checking account. If you need to move your money from another bank or credit union, you want to set up your checking account first. Once the new account is in place, you can schedule a transfer of funds into it. You can then decide whether to keep or close your other account. If you decide to close your other checking account, there are additional considerations to remember. You likely have various automatic transactions in your account that you want to take care of. Here are several essential considerations to keep in mind before closing your other account: If you're closing an account that receives your direct deposit, update your employer with the new account details. Wait a few weeks to close the old account to make sure the switch has occurred. If you have automatic bill payments set up, you want to update all payment information with your new account. Reviewing your statements over the last few months is helpful so you don’t forget any payees you owe money to on a recurring basis. Keep your account open for one more billing cycle after making all necessary changes. This ensures you don’t miss anything. Cancel any automatic transfers attached to your old account. You’ll also need to update the transfer details to your new account to ensure the money carries over on the recurring basis you had chosen. Wait to close your account until all of these changes have taken effect. You want to wait until everything is in place because closing prematurely can cause unnecessary financial troubles. To get the most out of your checking account, you want to make yourself aware of all the features associated with it. Can you get overdraft protection? Do you earn dividends on your balance? Can you enroll in eStatements? Take advantage of all the beneficial features available to get the most from your checking account. Now that you know how to open a checking account, click below to learn why you should open one. Why Open a Checking Account Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/how-to-qualify-for-a-personal-loan Title: How to Qualify for a Personal Loan - Baton Rouge Telco Federal Credit Union Meta Description: Personal loans can be used for almost any purpose. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/how-to-qualify-for-a-personal-loan ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: How to Qualify for a Personal Loan H2: How Hard Is It to Qualify for a Personal Loan? H2: Know Your Credit History H2: Cover Your Current Debt H2: Proof of Income H2: Adding a Co-Borrower H2: Qualify for a Personal Loan With Baton Rouge Telco H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: How to Qualify for a Personal Loan H2: How Hard Is It to Qualify for a Personal Loan? H2: Know Your Credit History H2: Cover Your Current Debt H2: Proof of Income H2: Adding a Co-Borrower H2: Qualify for a Personal Loan With Baton Rouge Telco H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Personal loans can be used for almost any purpose. Personal loans can be used for almost any purpose. They are one of the most flexible ways to borrow money and help build credit! Whether it’s cash for a special occasion, like a wedding or family vacation, funds for tuition, money for home improvements, or consolidating debt, you can apply for the cash you need with us at Baton Rouge Telco. Personal loans generally aren’t hard to get and are available from credit unions, banks, and online lenders. We offer a variety of personal loans to consider, depending on how quickly you need funds and the amount you need to borrow. No matter which type of personal loan you choose, you’ll want to start by comparing interest rates and loan terms. Your credit score and history will help determine if you qualify for a personal loan. Generally, the higher the credit score, the more likely you are to get a lower interest rate. The average score falls into these categories: If you’re looking to rebuild your credit or don’t have much history at all, our Solutions Loan requires no minimum credit score — as long as your credit report shows no open bankruptcy or foreclosure. Don’t forget to fix any errors that might be dragging down your score. You can request your free credit report and dispute wrongly reported missed payments or any other inaccuracies it may contain. To satisfy a personal loan requirement, make sure you can cover your current debt. Lenders will look at your debt-to-income ratio (DTI), which compares your gross monthly income to the monthly payments you make toward your outstanding debt. They will want to determine if you can take on additional debt and maintain the payments. Since your DTI ratio doesn’t have varied monthly expenses, you may consider budgeting beyond what your DTI labels as “affordable” for you. As a general rule, aiming below the 36% back-end target is ideal — meaning, your total monthly debts divided by your gross monthly income should be less than or equal to that percentage. For example, if you have $1,000 of monthly debt and make $3,500 a month, then your back-end debt-to-income percentage would be 28%, which is well below the recommended 36%. Like most personal loan requirements, “proof of income” can mean different things for different lenders. Confirm what documentation you need before applying. Some lenders may require a signed letter from your employer, while some will need pay stubs or W2s. If you’re self-employed, this could mean you’ll need to submit a copy of your tax returns. Remember, it’s best to have a secure and stable income before considering a personal loan. Determine the specific loan amount you need and avoid borrowing more than that. A larger loan amount will result in more interest charges and higher monthly payments, which could strain your budget. If you don’t qualify alone, you may want to consider a co-borrower. Your co-borrower agrees to pay the loan if you are unable to at any point in the life of the loan. This is viewed as an extra layer of security and may improve your chances of qualifying for a personal loan. But the reverse of this is also true — both names on the loan also mean the credit history of you and your co-borrower are taken into account for approval. Your co-borrower might see a decrease in their credit score if you ever miss a payment. If you’re still on the fence about whether a personal loan is right for you, we invite you to learn more about personal lending options with Baton Rouge Telco. Our Solutions Loan is a fast lending alternative when cash gets tight. We offer our members flexible loans at highly competitive rates. Click below to learn more! Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/how-to-read-a-check-knowing-what-it-all-means Title: How to Read a Check [Quick Guide] - Baton Rouge Telco Federal Credit Union Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/how-to-read-a-check-knowing-what-it-all-means ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: How to Read a Check [Quick Guide] H2: How to Read the Front of a Checkk H2: How To Read The Back Of A Check H2: Find the Checking Account That’s Right for You! H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: How to Read a Check [Quick Guide] H2: How to Read the Front of a Checkk H2: How To Read The Back Of A Check H2: Find the Checking Account That’s Right for You! H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Checks are still a very common way to receive and send funds to others. Knowing how to read and write a check is an essential life skill since checks come from a variety of sources—whether it be an IRS refund, a rent payment, or a bank loan. Deciphering a check may appear complicated at first glance. However, it’s easy once you understand the different fields and numbers. The images and information below will help you know how to read a check and properly fill out the fields when writing one. The back of the check is often less understood. However, it’s equally as important as the front of the check. Here are the important elements on the back: Now that you know all there is to know about writing and reading a check—it’s time to open a new checking account and put your newfound skills to the test! At Baton Rouge Telco Federal Credit Union, we offer a wide range of checking accounts designed to suit your unique lifestyle and financial goals. Click here to learn more and open an account online! Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/how-to-save-money-for-your-kids Title: How to Save Money for Your Kids - Baton Rouge Telco Federal Credit Union Meta Description: Every parent wants to help their child make a solid start in life financially, but what is the best way to save money for the future? Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/how-to-save-money-for-your-kids ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: How to Save Money for Your Kids H2: Think Ahead: Smart Ways to Save Money for Your Kids H3: 1. Savings Accounts H3: 2. Money Market Accounts H3: 3. Certificates of Deposit H3: 4. Youth Accounts H3: 5. College Savings Plans H3: 6. Roth IRAs H2: Bank for the Future With Baton Rouge Telco H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: How to Save Money for Your Kids H2: Think Ahead: Smart Ways to Save Money for Your Kids H3: 1. Savings Accounts H3: 2. Money Market Accounts H3: 3. Certificates of Deposit H3: 4. Youth Accounts H3: 5. College Savings Plans H3: 6. Roth IRAs H2: Bank for the Future With Baton Rouge Telco H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Every parent wants to help their child make a solid start in life financially, but what is the best way to save money for the future? Every parent wants to help their child make a solid start in life financially, but what is the best way to save money for the future? Whether you’re setting aside money for college or looking for a way to teach basic money management skills, here’s how to save money for your kids. Parents who are looking to start a nest egg for their child’s future or are seeking a way to encourage healthy savings habits from an early age have a number of options to choose from. Let’s take a look at a few of the most popular ones. Most banks or credit unions allow you to set up one or more savings accounts linked to your checking account. Setting up one specifically for your child is a safe and convenient way to put aside money when they are young. You can even arrange for an automated debit from your checking account to ensure you contribute every month. While interest rates are usually modest compared to higher-risk investments, by starting early you are giving your child’s money plenty of time to grow. Savings accounts typically offer several other advantages including: For example, Baton Rouge Telco’s Regular Share Savings account offers competitive interest rates and monthly fees with a minimum balance of just $5. Credit union owners get access to full banking services and deposits are insured by the FDIC up to $250,000. It’s a safe and reliable place to start your child’s financial future. If you already have a little money saved then it might be worth looking at a money market account for your child. With all of the flexibility and convenience of a regular checking or savings account, money market accounts offer access to significantly higher interest rates but usually require you to start with and maintain a higher minimum balance. Baton Rouge Telco’s Money Market accounts, for example, require a minimum deposit of $2,500 but currently offer an annual percentage yield (APY) twice that of a regular savings account—a difference that really adds up over time! You also get: If you’re serious about thinking long-term then a certificate of deposit (CD) is a good way to get started. By committing to invest an amount for a set period, from a few months to several years, you will earn regular dividends at a higher APY than that offered by most conventional banking accounts. Best of all, because the rates of CDs are fixed, you’ll know exactly how much money you’ll receive from the outset, while your initial deposit enjoys the same level of federal insurance as a checking or savings account. Baton Rouge Telco allows parents to open a CD on their child’s behalf, starting with a minimum deposit of $500 and with terms between three months and five years. APYs are well above those on conventional accounts and are higher on longer-term CDs. While many credit unions or banks will allow your child under 18 access to open savings or money market accounts provided there is also a parent or legal guardian on the account, if your goal is to teach financial responsibility and independence, then you might want to look at an account specifically designed for young savers. Youth Accounts can be individually held by savers under the age of 18, allowing them to get started with basic banking services. Young savers can open an All Star Savers account at Baton Rouge Telco, allowing them to earn a generous APY on deposits while earning bonus rewards when they reach savings milestones. Meantime, Baton Rouge Telco members aged 13-24 can open a Student Checking account with as little as $5, allowing them to receive services, including: If savings for your child’s education is a priority, however, it’s hard to do better over the long term than the 529 college savings plans offered in many states. There are two types of plans: Roth IRAs allow pre-taxed contributions to grow tax-free until the holder reaches retirement age. But there’s an added benefit that money can be withdrawn early without the usual penalties if it is to be used to pay for higher education costs. That makes a Roth retirement account a smart way to save for retirement while also setting aside money for your child’s education. It’s never too soon to start planning for your child’s financial future. While there are many ways to secure money for your child, Baton Rouge Telco has the tools you need to get started today, including: Click below to learn more about how to get started building savings for your child. Should You Open a Savings Account for Your Child? Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/joint-checking-account-is-it-right-for-you Title: Joint Checking Account: Is It Right For You? - Baton Rouge Telco Federal Credit Union Meta Description: Maybe you’re considering opening a joint checking account with a significant other, family member, or friend. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/joint-checking-account-is-it-right-for-you ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Joint Checking Account: Is It Right For You? H2: What is a Joint Checking Account? H2: How Does a Joint Checking Account Work? H2: Who Owns a Joint Checking Account? H2: Pros and Cons of a Joint Checking Account H3: Pros H3: Cons H2: Closing a Joint Checking Account H2: When To Consider a Joint Checking Account H3: Moving in together H3: Getting married H3: Having a baby H2: Alternatives To Opening a Joint Checking Account H2: Choosing a Joint Checking Account H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Joint Checking Account: Is It Right For You? H2: What is a Joint Checking Account? H2: How Does a Joint Checking Account Work? H2: Who Owns a Joint Checking Account? H2: Pros and Cons of a Joint Checking Account H3: Pros H3: Cons H2: Closing a Joint Checking Account H2: When To Consider a Joint Checking Account H3: Moving in together H3: Getting married H3: Having a baby H2: Alternatives To Opening a Joint Checking Account H2: Choosing a Joint Checking Account H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Maybe you’re considering opening a joint checking account with a significant other, family member, or friend. Maybe you’re considering opening a joint checking account with a significant other, family member, or friend. It sounds like a good idea, but is it right for you? When taking the step to combine finances in one account, you want to consider all factors associated with this decision to decide whether you should move forward with a joint checking account or choose an alternative. A joint checking account serves the same function as a standard checking account. The only significant difference is multiple people own the account instead of one. There are various reasons you might choose to open a joint checking account. Maybe you, and your significant other share household expenses, or you and a travel buddy are putting money in an account to pay for an upcoming trip. When you opt for a joint checking account, you and the other account holder(s) names are on the account, have access to checks, debit cards, and can make payments using it. All account holders also have access to online and mobile banking, so transactions are viewable by all. When you open your joint checking account, it will work similarly to opening a standard account. You and the other account holder(s) provide information on the application to be considered for account approval. Once approved, all account holders will receive the account deliverables – debit card, checks, etc. – and authorization to make decisions regarding the account. All account holders are equal owners in the checking account. Since money is deposited from multiple people, there must be an understanding of how the funds will be spent. Even if one person contributes all of the money, all account holders have equal access to the funds, so being clear on a spending plan is crucial. There are advantages and disadvantages of opening a joint checking account instead of a standard account. Here are some of the most recognized pros and cons of this decision. When you decide to close your joint checking account, it’s a simple process to do so. Although there are multiple names on the account, only one account holder is required to close it. Once you remove all funds, you submit a form to the branch to close the account, and that’s it. Certain life events lend to having a joint checking account. Moving in together, getting married, and having a baby are three events that generally call for this decision. When you move in together, household financial responsibilities – whether it’s contributing to the bills, paying the bills, or purchasing items for the household – will likely be split. Therefore, opening a joint checking account can make it easier to take care of those financial responsibilities. Without a joint checking account, you’d have to transfer money back and forth, write checks or send cash, which can feel like a lot of work to do month after month or whenever a new financial need pops up. Once you’re married, you might decide to open a joint checking account. This could be to manage household responsibilities or just because you want your finances to be one. Either way, having a joint checking account can truly bring your finances together. With the ongoing costs of having and raising a child, you might choose to open a joint account with your significant other to contribute to and pay for the expenses. Whether it’s to pay for medical bills, purchase clothing, or decorate the nursery, having a joint account can make this part of your life easier. If you don’t think a joint checking account is for you, here are some alternatives that might work better for your situation. Maintain separate accounts: You can keep your finances separate by using a standard checking account as you do already. Open a shared savings account: As an alternative to a joint checking account, you can open a joint savings account. The purpose would be to save for long term goals such as a vacation, wedding, or emergency fund, but it won’t require that your day to day finances be intertwined. Transfer funds: If you don’t want to open a joint checking account, you can transfer funds back and forth to pay for various expenses. Whatever your reason for considering a joint checking account, it can make managing your finances easier as long as you and the other account holder(s) are ready for the responsibility of combined finances. Checking Account Explained Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/learn-what-time-of-year-is-best-for-buying Title: Learn What Time of Year Is Best for Buying A Car - Baton Rouge Telco Federal Credit Union Meta Description: We’ve all seen the commercials – on Christmas day, a wife opens her presents to find a shiny car key inside. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/learn-what-time-of-year-is-best-for-buying ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Learn What Time of Year Is Best for Buying A Car H2: Learn What Time of Year Is Best for Buying a Car H3: End-of-Year Sales H3: End of Sales Periods H3: End of Model Year Sales H3: Holiday Weekends H2: Is There a Best Day of the Week to Shop for a Car? H2: Don’t Succumb to the Pressure H2: Time It Right With Baton Rouge Telco H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Learn What Time of Year Is Best for Buying A Car H2: Learn What Time of Year Is Best for Buying a Car H3: End-of-Year Sales H3: End of Sales Periods H3: End of Model Year Sales H3: Holiday Weekends H2: Is There a Best Day of the Week to Shop for a Car? H2: Don’t Succumb to the Pressure H2: Time It Right With Baton Rouge Telco H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. We’ve all seen the commercials – on Christmas day, a wife opens her presents to find a shiny car key inside. Do people really give cars as gifts for the holidays? Is that a smart thing to do? And is there even a right time of year to buy a vehicle? We look at when a vehicle purchase does (and doesn’t) make sense. We’ve all seen the commercials: On Christmas Day, a wife opens her presents to find a shiny car key inside. She runs outside to discover a beautiful new vehicle sitting in the driveway with a bright red bow on it against a snowy backdrop This may seem like a great gift for your significant other, but is it a wise financial decision to purchase a car around the holidays? Does it matter what time of year you buy a car? Below we take a look at some of the factors you might want to consider when timing your vehicle purchase. First up, it turns out there are some incentives to buying a car during the holiday season other than impressing your loved one. According to the data, the best month to go car shopping is, in fact, December due to end-of-year sales and incentives. Shopping at the very end of December or the first day of January can save you upwards of 8% off the MSRP, according to TrueCar.com. The end of the calendar year also corresponds to the end of the yearly sales period, so many car dealerships and salespeople are eager to meet their sales goals. This may mean that they are willing to offer you packages with additional perks that include free oil changes, car washes, or discounts on accessories to seal the deal. If you wait too long into January, though, discounts drop off by the end of the first week (and giant red bows get harder to find). If you want to shop the sales, be sure to plan ahead. If you’re reading this at a time that is nowhere near December and you need a new car, don’t fret. Car deals happen fairly predictably throughout the year. Both individual car salesmen and dealerships have monthly and quarterly sales quotas to meet. The quarterly figures are the big ones, so heading to the dealership near the end of March, June, or September can often help you find great deals. If you can’t wait until the end of the next quarter, the end of the month is the next best thing. There’s often a scramble among associates on the showroom floor to wrap up sales and get their picture on the “Salesperson of the Month” wall. What if you have at least some flexibility as to when you buy a new car? While it’s tempting to have a new ride for the summer, it might pay you to wait until the Fall. This is because shopping near the end of the model year can get you discounts on outgoing models. In the fall, new models of cars debut on the market, making last year’s vehicles old news and ripe for discounts. Many car dealerships will be eager to get old models off the lot to make room for the incoming ones. This means you can access great discounts on MSRP, low APR financing, and great incentives for helping take those vehicles off the dealers’ hands. If you’re ready to brave the crowds, Presidents Day, Memorial Day, the Fourth of July, Labor Day, and Black Friday come with piles of reliable deals on cars. Car shoppers who can hold off on closing until the next holiday weekend may allow you to take advantage of perks and significant savings. Seasonal factors aside, is there a best day of the week to shop for a car? Car dealerships traditionally do much of their business over weekends, but it turns out if you are after discounts it might serve you well to take some time off on a weekday to go car shopping. Research by TrueCar shows car buyers win higher MSRP discounts during the week, and markdowns peak on Mondays. Why? Most likely, sales associates have more time on their hands to haggle with individual buyers to close a deal, rather than moving on to the next group kicking the floor model’s tires. That said, salespeople know that you know about seasonal discounts. If the end of December or the end of a sales quarter is nearing, you may feel under pressure to commit to purchasing a vehicle to obtain the best deal. To avoid this pressure, remember there will always be another end-of-quarter coming up, and getting the right car for your needs is more important than getting a discount on the wrong vehicle. That said, it’s a good idea to start shopping before your ideal purchase time. For example, if you know you’d like to close a deal on a car at the end of December, start test driving, apply for loans, and compare makes and models early in the month. Give yourself ample time to research your options, so you don’t end up swayed by incentives, discounts, add-ons, or free hot cocoa. No matter what sales, incentives, or cash-back options are being offered, one of the most consistent ways you can get a good deal on a car is to start shopping early and get preapproved for a car loan before you head to the dealer. Finding out the best APR you can obtain on your ideal loan and getting pre-approved for a loan not only helps you stay grounded amidst the shiny chrome, sales signs, and special offers but also gives you even more bargaining power when it comes time to purchase. You can start by checking out the competitive auto loans that Baton Rouge Telco offers our members. Whether you are looking to buy a used car or a new vehicle, we’re here to help get you rolling with: Contact us today to discuss your car financing needs, or click below to learn more about our auto loans. Learn More About Auto Loans Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/leasing-vs-buying-a-car-whats-right-for-you Title: The Difference Between Leasing & Buying a Car - Baton Rouge Telco Federal Credit Union Meta Description: Purchasing a vehicle can be a very stressful process due to the amount of money at stake and the importance of the decisions you have to make. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/leasing-vs-buying-a-car-whats-right-for-you ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: The Difference Between Leasing & Buying a Car H2: What’s the Difference Between Leasing and Buying? H3: How Much Do You Want to Spend? H3: How Long Do You Want to Own the Car? H3: How Much Do You Plan to Drive? H3: What Kind of Cars Do You Like to Drive? H3: Do You Plan to Customize Your Vehicle? H3: When Should You Buy Out Your Leased Vehicle? H2: Leasing vs. Buying a Car: Weighing Your Options H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: The Difference Between Leasing & Buying a Car H2: What’s the Difference Between Leasing and Buying? H3: How Much Do You Want to Spend? H3: How Long Do You Want to Own the Car? H3: How Much Do You Plan to Drive? H3: What Kind of Cars Do You Like to Drive? H3: Do You Plan to Customize Your Vehicle? H3: When Should You Buy Out Your Leased Vehicle? H2: Leasing vs. Buying a Car: Weighing Your Options H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Purchasing a vehicle can be a very stressful process due to the amount of money at stake and the importance of the decisions you have to make. If you’re in the market for a new car, you have a choice between buying or leasing a vehicle. Both get you behind the wheel of a brand-new automobile, but each comes with distinct benefits and drawbacks. In this blog, we examine the main differences between leasing and buying a car. We’ll consider some of the major factors you should be looking at as you weigh your options and then consider which one is likely to best meet your specific needs. Read on to learn more. What’s the difference between leasing and buying a car? Put simply, leasing a car is a lot like choosing to rent an apartment. You pay a fixed amount each month and when it’s time to move on, you simply “move out” by returning the vehicle. It’s a convenient, no-strings-attached way to have a vehicle without any long-term commitment. Owning a vehicle, on the other hand, is more like buying a house with a mortgage. You get to use your vehicle as you wish and sell when you are ready, provided you continue to make scheduled payments on your auto loan on time. Unlike leasing, however, once all the payments are made, the car is entirely yours to use for as long as you wish or sell in the future. That said, there are also important differences between buying or renting a home and buying or leasing a car. Let’s ask some key questions to help you determine which option is better for you. Knowing how much you want to spend on a car might seem like a straightforward question, but there are actually several important questions rolled into the big one, “How much do you want to spend?” such as: Leasing is a tempting offer for many people because it is usually cheaper on all four counts. There is no down payment required, you simply sign up to pay a set amount each month for a period of time, after which you return the car. Monthly lease payments are typically significantly lower than comparable monthly auto loan payments and the total paid over a standard 36-month lease is usually well below the premium plus interest charged in the first three months of any car loan term. What about maintenance costs? Because dealers know they will be getting a vehicle back, they often include regular maintenance, parts, and upkeep in the price, often to the value of a thousand dollars a year or more.  If you buy a car, a similar scheduled maintenance package costs extra or comes out of your pocket over time. So, what’s the catch? It’s simply this: the money you put towards paying a car loan on a vehicle you purchase goes towards paying interest, but it also goes towards eventually owning the vehicle. The money you pay on a car lease simply covers the reduction in the value, or depreciation, of the vehicle during the lease. When you buy a vehicle, your cost of ownership drops dramatically over time and you end up owning a valuable asset. With leasing, your cost of ownership stays the same, making it more expensive over the long run, and you never get to own the car you’ve been driving. As we’ve seen, over a typical three-year lease term, leasing is often a cheaper option than buying. That makes it a good option if you enjoy driving the latest model car or you simply want a reliable, no-hassle car for a set time period. At the end of the lease, you return the car and can opt for a new lease on a brand-new vehicle. This way, you face none of the hassle and uncertainty that comes with driving an increasingly older vehicle. On the other hand, if you know that you will need a vehicle for the long term, investing in a car of your own by buying your vehicle might make more economic sense. You’ll be responsible for caring for your vehicle while making payments that go towards your ownership of it. Another catch is that leasing agreements typically come with mileage limits. This means that you can only drive the number of miles listed in your contract (typically up to 15,000 miles a year) before you have to pay overage fees. If you only drive ten minutes to work and back, this can be a great option. On the other hand, if you are someone who loves road trips, drives as part of your job, or lives far from your office, you might find you have to pay a penalty for exceeding mileage restrictions when you return your car or additional fees for excessive wear and tear on the vehicle. Therefore if you want to lease, remember to look carefully at your contract to understand how mileage limits and excessive wear charges might affect you. If you expect to rack up miles rapidly with your new car, then buying will give you more flexibility and may cost less in the end. Do you enjoy driving late-model or high-performance cars? Is it important to you to have an impressive vehicle sitting in the driveway? One of the major benefits of leasing is that you’re able to drive a newer model vehicle that you can exchange before it begins to look outdated. And, because your monthly costs are lower, leasing might allow you to drive a more expensive model of car that you could afford to buy. Alternatively, if you have your heart set on a specific make and model car that you plan to drive for a long time, you’re better off saving for the exact car you want, and then spending the money and time to maintain it properly. For many car owners, customizing a vehicle with colorful trim, an enhanced stereo system, or a custom paint job is part of the appeal. For others, it’s about installing specialized suspension and lights or purchasing a flashy grill. If you plan to add any upgrades yourself, then it’s better to plan to buy the vehicle. Lease contracts typically prohibit any modifications to ensure the dealer can sell it easily on the used market once you return it. Any unauthorized changes to the vehicle could end up costing you plenty when you turn your car in. Many car lease contracts give you the option to buy your vehicle at the end of the contract rather than simply returning it or leasing a newer vehicle. Some contracts also include an “early buyout” option allowing you to purchase your vehicle earlier in the contract. Typically, your end-of-lease buyout price is calculated when you sign your lease, based on the residual value of your car at the end of the lease period. Because your lease company is essentially offering to sell you your vehicle, this can work in your favor if you take very good care of your car or if the market price for used vehicles increases while you are leasing. In cases like this, you might be able to buy your leased vehicle at a discount compared to market prices. You’ll also have a very good idea of how the vehicle performs in all conditions and how well it suits your lifestyle. Buying out your vehicle earlier in the lease is more complex and involves calculating how much your car has depreciated—or lost value since the start of the lease—based on the new model price and any buyout price included in your contract. Some leases might also include early buyout penalties to discourage you from doing this. This means buying out a vehicle is usually a more expensive option, but it can be a good option if you really like your leased model and are worried about getting a similar replacement. It can also be a less expensive route out of your lease if you have racked up extensive mileage or added expensive customizations to it. Answering these questions should give you a good idea of whether leasing or buying a vehicle is the best option for you. If it comes down to a straight monetary comparison, then it’s important to understand exactly how much your auto loan is going to cost you. It’s also worth taking the time to ensure you get the most affordable auto financing option. Start by taking a look at Baton Rouge Telco’s auto loan calculator. You’ll get a good idea of how much your loan is going to cost based on different down payments, annual percentage rates (APRs), and loan length options. Also, be sure to take a look at the affordable auto financing options Baton Rouge Telco offers our members on both new and used autos. You’ll find: In addition, Baton Rouge members qualify for an APR loyalty discount of up to 0.5% on all auto loans. We also offer generous refinancing options and affordable loans for recreational vehicles. Talk to us about your auto financing needs today. We’ll find a fast, convenient way to get you moving for less. Click below to learn more. Baton Rouge Telco Auto Loans Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/money-market-vs-savings-accounts Title: Money Market vs. Savings Accounts - Baton Rouge Telco Federal Credit Union Meta Description: Money market accounts and savings accounts are two popular options for saving and growing your money by earning interest. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/money-market-vs-savings-accounts ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Money Market vs. Savings Accounts H2: How Do Savings Accounts Work? H2: How Do Money Market Accounts Work? H2: The Difference Between Money Market and Savings H3: Interest Earned H3: Minimum Deposits and Balance Requirements H3: Ways to Access the Funds H3: Transaction Limits H2: What to Consider: Money Market vs. Savings Accounts H3: Money Market Account Considerations H3: Savings Account Considerations H2: Alternative Ways to Save Money H3: Certificate of Deposit H3: High-Yield Checking Account H2: Money Market Accounts With Baton Rouge Telco H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Money Market vs. Savings Accounts H2: How Do Savings Accounts Work? H2: How Do Money Market Accounts Work? H2: The Difference Between Money Market and Savings H3: Interest Earned H3: Minimum Deposits and Balance Requirements H3: Ways to Access the Funds H3: Transaction Limits H2: What to Consider: Money Market vs. Savings Accounts H3: Money Market Account Considerations H3: Savings Account Considerations H2: Alternative Ways to Save Money H3: Certificate of Deposit H3: High-Yield Checking Account H2: Money Market Accounts With Baton Rouge Telco H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Money market accounts and savings accounts are two popular options for saving and growing your money by earning interest. Money market accounts and savings accounts are two popular options for saving and growing your money by earning interest. Although these accounts have a few things in common, there are some important differences between money market and savings accounts that may make one a better option than the other. The best choice will depend on how much funds you have to deposit and your goals. Read on to find out everything you need to know about the most common money market vs. savings accounts. Offered by both banks and credit unions, a savings account is a great way to save and grow your money. Opening a savings account is very simple, and it can usually be done in a single short visit. Once your account is established and funded, you will begin earning interest. Savings accounts usually have limited withdrawal options. Depending on the financial institution, you may not be given a debit card, ATM card, or check-writing access. Withdrawing money from a savings account is typically done by transferring money to a checking account. You may also be able to wire money to an account with another institution or submit a withdrawal form to obtain cash. Savings accounts are insured by the federal government for up to $250,000. They will either be insured by the Federal Deposit Insurance Corporation (FDIC) if the account is with a bank or by the National Credit Union Administration (NCUA) if the account is with a credit union. Money market accounts are offered by banks and credit unions and work similarly to savings accounts. They are special accounts that usually allow you to earn more interest on your money than with a savings account. Money market accounts make it very easy to make withdrawals. If you open a money market account, you will most likely receive a debit card and be able to write checks from it. These accounts are subject to federal transaction limits, however, and the number of in-person transactions you can make may be limited to six per month. An important thing to consider before opening a money market account is that you may be required to maintain a minimum balance. The amount will vary depending on the financial institution. Like savings accounts, money market accounts are also insured for up to $250,000 by either the FDIC or NCUA. If you’re thinking about opening an account for your savings, it’s important to understand the key difference between money market and savings accounts. Depending on your needs and goals, one account may be a better option than the other. The amount of interest you will earn with a money market account may be higher than with a savings account. A money market account may require a higher minimum balance, however, to earn the most interest or avoid a monthly fee. Because of this, a savings account may be a better option for those with smaller account balances. Money market accounts typically have higher minimum deposit requirements than savings accounts, and you may need a higher minimum balance to start earning interest and dividends. Savings accounts tend to have lower opening requirements and minimums. Savings accounts typically do not offer a debit card or check-writing access. When you need to access the money in your account, you can transfer funds to your checking account. You can also receive cash directly from your savings account by submitting an in-person withdrawal form. With a money market account, however, you will be issued a debit card for the account so you can easily make ATM withdrawals. You will also have check writing access. You can usually make no more than six in-person withdrawals from a money market account per month, but you may make more withdrawals if you use an ATM. With a savings account, there is often a fee if you go over a certain number of withdrawals, or transfers, per month. Whether you should open a savings account or a money market account may depend on factors such as your initial deposit and your goals. Here’s a quick recap of the difference between money market and savings accounts for you to consider before you make up your mind. Although savings accounts and money market accounts will meet the savings needs of most, there are some additional savings options to consider. A certificate of deposit (CD) is a way to earn interest on a deposit you make with either a bank or credit union. With a CD, you deposit a specific amount at a fixed interest rate for a specific period. The period could be six months, one year, five years, or something else. If you withdraw the money before the end of the period (the maturity date), you will incur an early withdrawal penalty. Although CDs do offer higher interest rates than savings accounts, access to your money is restricted. A high-yield checking account is similar to a regular checking account, except that it offers interest on the money in your account. Some financial institutions refer to them as “reward accounts.” High-yield accounts usually have specific requirements that you will have to meet to keep and use the account, like a minimum balance requirement, direct deposit of your paycheck, or something else. A financial institution may even require that you have other accounts with it to qualify. If you’re still weighing up money market vs. savings accounts, Baton Rouge Telco offers both types of accounts with a competitive APY. Our money market account doesn’t have any monthly fees, and you can conveniently make up to six withdrawals per month. A low minimum deposit of $2,500 is all that’s needed to get started. Click below to learn more about our money market accounts. See Our Money Market Account Option & Benefits Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/payday-loans-vs-personal-loans Title: Payday Loans vs. Personal Loans - Baton Rouge Telco Federal Credit Union Meta Description: When the need to borrow arises, payday loans and personal loans are two common choices. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/payday-loans-vs-personal-loans ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Payday Loans vs. Personal Loans H2: How Do Payday Loans Work? H2: Payday Loan Pros H2: Payday Loan Cons H2: How Do Personal Loans Work? H2: Personal Loan Pros H2: Personal Loan Cons H2: The Baton Rouge Telco Solutions Loan H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Payday Loans vs. Personal Loans H2: How Do Payday Loans Work? H2: Payday Loan Pros H5: No Credit Check H5: They Are Convenient H2: Payday Loan Cons H5: High Interest Rates H5: The Full Amount Will Be Due Next Payday H5: Aggressive Collections H2: How Do Personal Loans Work? H2: Personal Loan Pros H5: They Can Be Used for Many Things H5: Competitive Interest Rates H5: You Don’t Need a High Credit Score H5: Predictable Monthly Payments H2: Personal Loan Cons H5: There May Be Fees H5: Late Payments Will Damage Your Credit H2: The Baton Rouge Telco Solutions Loan H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. When the need to borrow arises, payday loans and personal loans are two common choices. When the need to borrow arises, payday loans and personal loans are two common choices. While it’s nice to have borrowing options, it’s important to understand the differences between the two loans. The following overview can help you make an informed decision if you aren’t sure which option is best for your needs. Payday loans are also sometimes referred to as “cash advance loans.” As the name implies, you will repay the full amount that you borrowed with interest the next time you get paid. Payday loans are usually for amounts of $1,000 or less. When you apply, you will be required to give the lender either a signed check or a document authorizing the lender to withdraw the money you borrowed from your checking account. If you are unable to repay the full amount the next time you get paid, an extension may be possible. Additional interest will accrue on the amount you owe, which will make repaying the loan much more expensive. Payday loans do have some pros. But be sure to carefully consider everything before making a decision. Payday loans are very easy to qualify for. No credit check will be done, and it only takes about half an hour to get the money you need. There are usually only three requirements to qualify: Payday lenders are very common. Most communities have at least one, so you shouldn’t have to travel far to borrow money. Payday loans have several important cons that are deal breakers for many. Although they are convenient, problems can quickly arise if you’re not careful. Payday lenders charge very high interest rates. The rate you will pay depends on the lender, but rates of up to 600% are not uncommon. With a payday loan, you won’t be able to make monthly installment payments on the money you borrow. The full amount will be due by your next payday. Payday lenders are very aggressive in getting the money they loaned back if you can’t repay. If you don’t repay the full amount plus interest by the due date, the lender will either process the check you signed or withdraw the money electronically from your checking account. If you don’t have enough money to cover it, it could result in an expensive overdraft fee. Personal loans are issued by either banks or credit unions. They are unsecured, which means that no collateral is needed. The amount you can borrow with a personal loan varies depending on the lender, although the typical range is $100 to $50,000. Personal loans have fixed interest rates, and you will repay the loan with equal monthly payments. Repayment terms vary depending on the amount borrowed. Your credit will be checked when you apply for a personal loan. Documents you will need when applying include: It may take up to five business days for your financial information to be reviewed. If you are approved, the funds will then be transferred to your checking account. Personal loans have several important advantages over payday loans to consider. Although it may take a little longer to obtain a personal loan, the benefits may be worth it. There are usually few or no restrictions on what you can do with the money you borrow with a personal loan. Interest rates for personal loans are much more affordable than payday loans. They may even be more affordable than other types of loans, including credit cards or store cards. Lenders consider a variety of factors when evaluating loan applicants. Because of this, you may still be able to get a personal loan with a low credit score. You will have several months or years to repay the money you borrowed with a personal loan. The loan terms depend on the amount borrowed and other factors. Although personal loans are great borrowing options, they do have some cons to consider. But if you are in a position where you need to borrow, personal loans are still much better than payday loans. Depending on your lender, you may be charged fees for applying, late payments, paying off the loan early, or something else. If you don’t make your monthly payments on time with a personal loan, the credit reporting bureaus will be informed of the late payments and it will negatively affect your credit score. The payday loans vs. personal loans debate is easy to settle after you carefully evaluate each option. Personal loans are the clear winner. The interest rates are significantly lower, and you can take much longer to repay the money you borrow. If you need a source of quick cash, a Solutions Loan from Baton Rouge Telco provides you with all of the benefits of payday loans without any of the negatives. You can borrow between $200 and $1,000 and flexible terms of up to six months are available. The interest rates are also competitive and there is no minimum credit score. To qualify for a Solutions Loan, you must be a Baton Rouge Telco member for at least 12 months. There is a low $20 application fee, and your credit report must not show any open bankruptcies or foreclosures. Check out the following link to learn more about Solutions Loans from Baton Rouge Telco. Learn More About Our Solutions Loan Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/refinance-vs-home-equity-line-of-credit-whats-the-difference Title: Refinance vs. Home Equity Line of Credit: What's the Difference? - Baton Rouge Telco Federal Credit Union Meta Description: Home equity lines of credit and cash-out refinances are two ways to turn your home's current value into funds you can use to accomplish other goals. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/refinance-vs-home-equity-line-of-credit-whats-the-difference ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Refinance vs. Home Equity Line of Credit: What's the Difference? H2: Refinance vs. Home Equity Line of Credit Defined H2: The Costs of Refinancing H2: The Costs of a HELOC H2: Which Is Better for You? H2: Refinance vs. Home Equity Line of Credit: We Can Help! H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Refinance vs. Home Equity Line of Credit: What's the Difference? H2: Refinance vs. Home Equity Line of Credit Defined H2: The Costs of Refinancing H2: The Costs of a HELOC H2: Which Is Better for You? H2: Refinance vs. Home Equity Line of Credit: We Can Help! H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Home equity lines of credit and cash-out refinances are two ways to turn your home's current value into funds you can use to accomplish other goals. Home equity lines of credit (HELOC) and cash-out refinances are two ways to turn your home’s current value into funds you can use to accomplish other goals, such as paying for home improvements or consolidating debt. HELOCs are often mentioned in the same context as cash-out refinances. But while both allow you to tap your home equity, the portion of your home you actually own, the two financing options aren’t exactly the same and have different benefits. Are you looking for a way to leverage your growing home equity? Let’s take a closer look at refinance vs. home equity line of credit. Although these loans seem similar, there are significant differences that should be considered. With a HELOC, you get the cash by borrowing against your home equity, which is the difference between the current value of your home and the amount left to pay on your mortgage. If you already have a mortgage, a HELOC will be a second payment to make. On the other hand, a cash-out refinance replaces your current mortgage with a new one complete with its own term, interest rate, and monthly payment. You will continue to make just one monthly payment. How you access the money with a refinance vs. home equity line of credit is also different. Cash-out refinances offer a lump sum. HELOCs let you pull out money as needed. Most HELOCs also come with adjustable interest rates. Be prepared for your monthly payment to change over time. A cash-out refinance gives you the flexibility to change the terms of your original loan, saving you money in the long run. In other words, if you qualify for a lower interest rate or shorten the loan term, you could reduce the amount of interest you pay over the life of the loan. Also, repaying a cash-out loan requires a single monthly payment. This could be easier to budget for vs. possibly having two monthly payments when using a HELOC. Baton Rouge Telco’s fees only include a $50 application fee, $60 processing fee, and an origination fee of 1% of the total loan amount at closing (not to exceed $4,000). The origination fee can be waived with 0.25% added to your qualifying interest rate. Unlike cash-out refinances, which come in both fixed- and variable-rate options, HELOCs almost always have adjustable interest rates. You’ll want to be prepared for the inconsistencies, especially if you’re sticking to a strict budget. At the beginning of a HELOC, you typically make interest-only payments, helping keep your costs low. But once that period ends (we offer terms up to 10 years), you’ll start making bigger monthly payments. Don’t forget, all HELOC payments are in addition to your existing mortgage payment. They don’t replace your current mortgage loan. Our HELOCs at Baton Rouge Telco offer a minimum loan amount of $10,000 and you may borrow up to 90% of the combined value of your home. Overall, these lines of credit have lower closing costs than other home equity loans. They can also be a great source of emergency funds. Home Equity Line of Credit When contemplating a refinance vs. home equity line of credit (HELOC), the best option depends on your personal finances. You want to consider what your current mortgage rate is, the amount of equity you have in your home, and why you need the money. A HELOC is best if you’re not sure how much you need, you want access to cash for an extended period, or you’re not interested in replacing your current mortgage loan’s rate or terms. If you have a set amount of costs you’re trying to cover, you’re trying to consolidate debt, or you could benefit from replacing your existing mortgage loan with a new one, a cash-out refinance is the better option. Taking out any kind of loan against your home is a big decision. It is important to research each option to determine which is right for you. The professionals at Baton Rouge Telco are here to help. Remember, choosing the right lender is as important as the loan you pick. As a credit union, we are here to serve you. Click below to choose which option works best for you at Baton Rouge Telco! Home Equity and Mortgage Loans Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/secured-vs-unsecured-personal-loans Title: Secured vs Unsecured Personal Loans - Baton Rouge Telco Federal Credit Union Meta Description: If you want to refinance credit card debt, make a big purchase, do some home improvements, or start a small business of your own—you might be in the market for a personal loan. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/secured-vs-unsecured-personal-loans ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Secured vs Unsecured Personal Loans H2: Secured Personal Loans H2: Unsecured Personal Loans H2: Secured vs. Unsecured Personal Loans: Which Is Best For You? H2: Get the Money You Need From Baton Rouge Telco H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Secured vs Unsecured Personal Loans H2: Secured Personal Loans H2: Unsecured Personal Loans H2: Secured vs. Unsecured Personal Loans: Which Is Best For You? H2: Get the Money You Need From Baton Rouge Telco H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. If you want to refinance credit card debt, make a big purchase, do some home improvements, or start a small business of your own—you might be in the market for a personal loan. If you want to refinance credit card debt, make a big purchase, do some home improvements, or even start a small business of your own—then you might be in the market for a personal loan. The key to taking out a loan is understanding your options. When you know the variety of loans available to you, you can borrow (and repay!) the smart way. One question you’ll probably have when you’re in the market for a personal loan is whether you want a secured vs. unsecured personal loan. Read on to learn why a Baton Rouge Telco personal loan could be right for you! A secured loan is exactly what it sounds like: it’s a loan secured and backed by some form of collateral, such as a personal asset you own. Backing up a loan with a valuable asset gives the lender peace of mind because if you happen to default on the loan, they can reclaim the collateral, sell it, and recover any money owed. But remember that if the asset does not completely cover the amount owed, you’ll still be on the hook for paying back the balance. Secured loans are the most common way to borrow large amounts of money, but you don’t always have to use your house or car as collateral. At Baton Rouge Telco, we will accept stocks, bonds, or certificate accounts as collateral as well. Advantages of Secured Personal Loans There are many benefits of secured personal loans, especially if you don’t have a great credit history or a big income. The most common reasons are that rates tend to be lower and the borrowing limits higher with secured loans. Usually, the repayment term is longer, giving you more time to pay back the loan. However, to get a secured personal loan, you have to offer some sort of collateral to the lender, which they can claim should you not pay back your debt. Collateral is typically a car, boat, or even a home. If you default on your payments, the lender has the right to seize that property as a way of getting back the money they loaned you. Read More: What Can I Use a Personal Loan For? Unsecured personal loans are loans given to you without any of your assets attached as collateral. With this type of loan, you wouldn’t have to offer up a car or a home in order to be granted the loan. So, in the event that you’re unable to repay the loan, the lender can’t automatically seize your assets as a form of repayment. Advantages of Unsecured Personal Loans You might be wondering how you could receive funds if the lender didn’t have something to guarantee repayment? Lenders put their trust into extending unsecured personal loans for a number of reasons, but your credit score and your income would certainly be taken into account. A strong credit score shows a good repayment history of debts, so if you have it, you’re at an advantage in the application process. But if you don’t, there are other factors that lenders will consider like employment history, savings, and investments. Higher or lower interest rates will be based on this assessment as well. Read More: How Many Personal Loans Can You Have at Once? The loan type you choose depends entirely upon your financial situation. If you have excellent credit, an unsecured loan is likely the better option for you. There’s no risk involved, you’ll likely get a lower interest rate, and these loans are easy and fast to apply for! If you don’t have the best credit score or history but own valuable property, you should think about a secured personal loan. If you’re confident in your ability to repay the loan and want a competitive interest rate, this could be the best choice for you. Read More: Are Personal Loans a Bad Idea? With so many different types of loans, deciding on how to finance your next purchase or project can be overwhelming. At Baton Rouge Telco, we’ll explore the options with you to make sure you choose the best loan for your needs. Apply today to get the money you need! Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/shop-like-a-pro-on-black-friday Title: Shop like a pro on Black Friday - Baton Rouge Telco Federal Credit Union Meta Description: We've all heard the phrase work smarter, not harder and this holiday season is no different. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/shop-like-a-pro-on-black-friday ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Shop like a pro on Black Friday H2: Get Ready for Black Friday Deals, Baton Rouge H3: 1. Pick Your Opening H3: 2. Make a List and Check It Twice H3: 3. Learn the Deals, Understand the Deals, Become the Deals H3: 4. Early Bird H3: 5. Happy Returns H3: 6. Your Phone is Your Digital Doorbuster H3: 7. Matchy-Matchy H3: 8. Curbside Smarts H2: Budget and Spend Smarter with Baton Rouge Telco H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Shop like a pro on Black Friday H2: Get Ready for Black Friday Deals, Baton Rouge H3: 1. Pick Your Opening H3: 2. Make a List and Check It Twice H3: 3. Learn the Deals, Understand the Deals, Become the Deals H3: 4. Early Bird H3: 5. Happy Returns H3: 6. Your Phone is Your Digital Doorbuster H3: 7. Matchy-Matchy H3: 8. Curbside Smarts H2: Budget and Spend Smarter with Baton Rouge Telco H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. We've all heard the phrase work smarter, not harder and this holiday season is no different. It’s the most wonderful — and most financially challenging — time of the year. Black Friday sales kick off the holiday shopping season the day after Thanksgiving and this year the elves at Baton Rouge Telco want you to shop smarter, not harder. Check out our eight top money-saving tips below to make sure you get all the best holiday deals from Black Friday to Cyber Monday. For many of us, Black Friday shopping is as essential to Thanksgiving weekend as turkey and football (go Tigers!), and a big part of our holiday routine. Get your Black Friday 2023 edition off to the right start by planning carefully. Searching for early Black Friday deals at your favorite Baton Rouge shopping destination can become overwhelming unless you plan ahead and decide where you want to be and when. The Mall of Louisiana and many of its stores will open for early sales at 9 a.m. on Black Friday. Some larger independent retailers at the mall may open much earlier. Similarly, many individual stores at Perkins Rowe may unlock their doors well ahead of the mall’s official opening time at 10 a.m. on November 24, so be sure to check ahead to make sure you are at the front of the line. Shopping for the holidays without a list is like grocery shopping while hungry. Bad move, fam! List the items you are after and the product category they are in so you can pick up multiple gifts at once. Have a backup option in case the ideal item is already gone. Pro tip: Bring a shopping buddy to help. Everybody needs a wingman… or, (let’s be real) wingwoman. Sometimes, a great Black Friday deal might not be a deal at all. Do your research a few days before and check the prices of the items you want so you will know when you are saving money or when you might be paying too much. Pro tip:  Go to blackfriday.com to find the best Black Friday deals, discounts, and coupons at all the biggest stores. Keep a sharp eye out for early pricing deals. Many stores already offer major discounts in the week leading up to Black Friday. Beat the post-Thanksgiving madness and load up on deals before the crowds even get there. Pro tip: Some stores may be willing to honor advertised prices or discounts ahead of time if you can’t make it to the store on the day. It never hurts to ask. Okay, hopefully not many, but at least some of your gifts are likely to end up as returns. Make things easier for yourself or the person returning the gift by always requesting a gift receipt (which omits the price) that you can enclose with the gift. Gift receipts can usually be generated at any point of sale, but busy clerks often forget to offer this option, even when selling items that are gifts. Pro tip: Some retailers offer more generous return policies to loyalty program members. You might qualify for a longer return period or more flexibility when returning without a receipt. Your phone might be the most useful thing you put in your bag the Friday after Thanksgiving. Follow your favorite stores on social media for special offers and late-breaking deals and always compare prices online before a big purchase. Pro tip: Look out for special deals and discounts offered through big retailer's online apps only. It’s worth signing up for extra savings that less savvy (or connected) shoppers might miss! Many stores will match deals offered by other retailers to avoid losing a sale. Be sure to know the lowest price for an item even if you prefer to use a different store. You might save yourself a few dollars or an extra trip. Pro tip: Use the Amazon app to check the price online. Tap the camera icon next to the search bar to quickly scan and compare prices. If you know what you want ahead of time and time is not of the essence, curbside pickup can help you navigate the Black Friday madness from the comfort of your car. Schedule pickups at each of your favorite merchants as you go. You may wait a little longer, but you’ll miss the mayhem in the malls. The holidays are all about family and generosity, but all the excitement over Black Friday deals and discounts can actually end up costing you more unless you have a plan. At Baton Rouge Telco, we’re here to help you save so you and your family can thrive in the future. That’s why our #1 smart shopping tip is to start by deciding exactly how you want to budget for holiday gifts this year. With this number in mind, it’s easier to figure out how much you would like to spend on each gift and where you are likely to get the best deals for each item. We’re here to help you plan for holiday spending and your longer-term future with free online classes as well as free personalized counseling for our members through Greenpath Financial Wellness. We also offer a full range of personal financial products to help you manage, save, and spend your money better. Click below to learn about our financial education resources. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/should-i-buy-an-existing-home-or-new-construction Title: Should I buy an existing home or new construction? - Baton Rouge Telco Federal Credit Union Meta Description: Purchasing a home is a major life investment and you should weigh all options before you start your search. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/should-i-buy-an-existing-home-or-new-construction ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Should I buy an existing home or new construction? H2: Personalization H2: Landscaping H2: Smart and Efficient H2: What’s in the Budget H2: Timing Is Everything H2: Pros and Cons of Building a Home H3: Pros H3: Cons H2: Pros and Cons of Buying an Existing Home H3: Pros H3: Cons H2: Cost of Building a New Home H2: Cost of Buying an Existing Home H2: New vs. Existing: Which Home Is More Affordable? H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Should I buy an existing home or new construction? H2: Personalization H2: Landscaping H2: Smart and Efficient H2: What’s in the Budget H2: Timing Is Everything H2: Pros and Cons of Building a Home H3: Pros H3: Cons H2: Pros and Cons of Buying an Existing Home H3: Pros H3: Cons H2: Cost of Building a New Home H2: Cost of Buying an Existing Home H2: New vs. Existing: Which Home Is More Affordable? H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Purchasing a home is a major life investment and you should weigh all options before you start your search. Purchasing a home is one of the biggest decisions you'll make in life. When house hunting, you face a huge choice—whether to buy an existing home or build a new one. Carefully examining the pros and cons of each option will allow you to make a more informed decision. Read on to learn more about the costs of buying a new construction home vs. an existing one. When buying a new construction home, you can work with the builder to select countertops, floors, paint, and finishes. Compared to an existing home, you will have to hire somebody for the work or attempt to pull off one of those DIY Pinterest projects — and we’ve all seen how “easy” those can be. With new construction, you must purchase the vacant land before paying to build the house on it. Most existing homes have already established trees plus front and back gardens to add to the outside appeal of the house. Think about it as a buy now or later type of situation. Everyone eventually wants that #1 neighborhood yard of the month award. Buying new means buying better energy-efficient appliances and building supplies — which translates into lower utility bills. New homes have better insulation and window technology than older ones. The improved insulation and more modern windows help keep new homes cooler in summer and warmer in winter. Hey Alexa, how much money am I saving? Overall, there are many pros and cons to both styles of homes. An older model will likely be more budget-friendly in the here and now. But, it can become a hassle when repairing and remodeling—or when replacing major equipment like an antiquated AC unit or furnace. That said, older homes tend to have bigger backyards. The extra space allows homeowners to do more outside activities without restrictions from Home Owner Association (HOA) rules. Buying an existing home is faster than building a new one, so consider timing if you need to move soon. Building a new home takes an average of 6 months, but you can move into an existing home right after signing. Building a new home from the ground up allows you to customize the design and layout. However, it also requires more upfront planning and costs. A common question that arises when considering taking on a new home construction project is, "Is it cheaper to buy land and build a house versus buying one that’s already built?" The answer to that question depends on several factors: Purchasing an existing house allows you to move in quicker and potentially save money upfront. However, inheriting an older home comes with some drawbacks to consider as well. Let’s look at both the positives and negatives. Constructing a newly built home involves various upfront expenses. The regional real estate market, custom designs, and luxury finishes can all impact the final price. Below is an overview of typical construction costs for building a 2,000-square-foot home: Purchasing an existing house might seem more affordable than building a new one. However, buyers should budget for surprise repairs or replacements because the previous owner's maintenance history is unknown. Here are some average costs you might encounter when purchasing an existing home: So, do you want something new and shiny, or are you looking for that charming, established house? Both have major pros and cons and factors to consider. Choosing the right lender is just as important as selecting the right home. Let Baton Rouge Telco help you get into your dream home faster. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/should-i-say-yes-to-refinancing-my-car Title: Should I Refinance My Car? (w/Alternatives) - Baton Rouge Telco Federal Credit Union Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/should-i-say-yes-to-refinancing-my-car ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Should I Refinance My Car? (w/Alternatives) H2: What Is Auto Loan Refinancing? H2: The Benefits of Refinancing Your Car Loan H3: Lower Interest Rates H3: Lower Your Monthly Payments H3: Pay Off the Car Sooner H3: Peace of Mind H3: Easier to Pay and Manage Your Loan H2: The Potential Savings of Refinancing Your Car Loan H2: See How Much You Can Save by Refinancing With Baton Rouge Telco Federal Credit Union H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Should I Refinance My Car? (w/Alternatives) H2: What Is Auto Loan Refinancing? H2: The Benefits of Refinancing Your Car Loan H3: Lower Interest Rates H3: Lower Your Monthly Payments H3: Pay Off the Car Sooner H3: Peace of Mind H3: Easier to Pay and Manage Your Loan H2: The Potential Savings of Refinancing Your Car Loan H2: See How Much You Can Save by Refinancing With Baton Rouge Telco Federal Credit Union H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Consider refinancing if you're unhappy with your current auto loan or your circumstances have changed. If you’re struggling with a higher interest rate or an expensive monthly payment, refinancing could be the answer to finding a better deal with a lower payment. In fact, research suggests that Americans could save more than $37 billion by refinancing their current auto loans. Read on for the top five reasons to say “Yes!” to refinancing. Refinancing your auto loan means taking out a new loan to pay off your existing one. The goal is to save money in the short and long term. Refinancing also allows a second look at protections you may have initially passed on when buying your car. Refinancing your auto loan offers many potential benefits that can significantly add up over time. If you financed your car without negotiating the rate, you likely didn't secure the most favorable deal available. Poor credit can also lead to high monthly car payments. You might be able to get a better loan rate if interest rates have dropped or your credit rating improved. Check with your local credit union to get the best deal possible because credit unions typically have much lower rates than banks. Many institutions, like Baton Rouge Telco, offer discounts of up to 0.50% APR for having an established relationship. Refinancing could help lower your high monthly car payments. It can act as a proverbial pressure relief valve that frees up money and takes some of the stress out of paying your bills. However, be aware you may end up paying more interest over the life of the loan. Refinancing could offer a faster payoff if you want to pay off debts or worry about your car outlasting its loan. This strategy helps align your loan term with your financial goals and your vehicle's lifespan. Consider refinancing your car at a lower rate for a shorter loan term. This may keep your monthly payments the same or even increase slightly. However, you’ll be able to pay off the vehicle much faster. If you financed at a dealership, you were likely offered GAP coverage or mechanical breakdown protection. It’s easy to pass on these options when you’re focusing on the excitement of your new car. But now that you’ve had time to reflect, you may wish you had added some of those protections. Refinancing is a great way to add these policies so you can have better peace of mind. Not all lenders are created equal. It’s frustrating when it becomes a hassle to get hold of someone to answer your questions. Many big banks make their customers feel more like an account number than a person. Refinancing through a credit union like Baton Rouge Telco will provide you with more personalized service. Our customers love our easy online payment options and the ability to walk into any local branch and talk to a human being. And that human will probably greet you by name—imagine that! Refinancing your auto loan opens up many opportunities for savings. Consider a situation where your original used car loan carried a 9.33% interest rate due to your less-than-stellar credit score. As time passes, your credit score improves. You decide to refinance and obtain a 7.43% interest rate. This improvement makes your auto loan more affordable and has a significant positive effect on your finances. Let’s look at a comparison between your original loan terms and your new loan after refinancing. Refinancing from 9.33% to 7.43% would lower your monthly payment by about $18. You would save approximately $1,097 in total interest over the life of the loan. Refinancing is a great way to reduce your monthly payments or shorten the length of your auto loan. It offers a path to better align your loan terms with your current financial situation and goals. At Baton Rouge Telco, we offer competitive auto refinancing rates and flexible terms to our members. Our friendly experts will sit down with you to go over the rates, terms, and available options that align with your financial goals. Check out our auto refinance program and contact us today to learn more! Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/should-you-open-a-savings-account-for-your-child Title: Should You Open a Savings Account for Your Child? - Baton Rouge Telco Federal Credit Union Meta Description: With access to computers, the internet, and more, children are learning in new and innovative ways. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/should-you-open-a-savings-account-for-your-child ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Should You Open a Savings Account for Your Child? H2: Savings Accounts for Children: The Basics H2: Benefits of Opening a Savings Account for a Child H3: Illustrate How Banking Works H3: Learn About Interest H3: Promote Financial Education H3: Real-Life Financial Experiences H2: Selecting the Right Account for a Child H3: All-Star Savers H3: Christmas Club H3: Student Checking and Certificates H2: How to Open a Savings Account for a Child H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Should You Open a Savings Account for Your Child? H2: Savings Accounts for Children: The Basics H2: Benefits of Opening a Savings Account for a Child H3: Illustrate How Banking Works H3: Learn About Interest H3: Promote Financial Education H3: Real-Life Financial Experiences H2: Selecting the Right Account for a Child H3: All-Star Savers H3: Christmas Club H3: Student Checking and Certificates H2: How to Open a Savings Account for a Child H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. With access to computers, the internet, and more, children are learning in new and innovative ways. With access to computers, the internet, and more, children are learning in new and innovative ways. Kids are even able to pick up new concepts and ways of thinking faster than some adults! While it may be prudent to protect children from learning too much too fast, there’s at least one area where the learning can start at any time: saving! That’s right: saving. Even a baby can have a savings account! Of course, there are some requirements and rules for children as it relates to savings accounts. But if you’re wondering whether you should open a savings account for a child, the short answer is, “Yes!” Keep reading to learn more about the why, when, and how of opening a savings account for a child. Opening a savings account for a child is not the same as opening one for yourself. Savings accounts for children are usually designed for children under 18. The child and a parent or guardian act as joint account holders, which means you can manage the finances until your child is ready to manage them. Youth savings accounts should be straightforward and free of most fees or special requirements. Ideally, parents will want to search for accounts with features such as: Lucky for Baton Rouge Telco members, we have accounts perfect for your children! And, if you’re wondering if your child is old enough, never fear. Age is not an issue! You can even open a savings account for a baby as long as you act as a joint account holder. You may look at your son or daughter, grandchild, niece, or nephew, and think they are too young to consider saving. But the truth is that lessons about savings can start at any age. The benefits of opening a savings account can set your child up for future financial responsibility. Sure, a young child knows a little about the concept of saving. A piggy bank shows that saved money can accumulate into a larger sum. While piggy banks are a great hands-on way to show your children the benefits of saving, it doesn’t show them how banking works. When you open a savings account for your child, it is an opportunity to take them to your credit union and show them the entire process. A parent or guardian is needed to open an account for a child so you can be there for this milestone. By opening a savings account and being involved in its upkeep, a child will learn about banking, credit unions, how interest works, and the benefits of saving. Think about the concept of interest for a second. You deposit money in a savings account and it earns a certain amount of interest. To put it in terms your child can easily understand: You get paid to save! Opening a savings account with even a small sum will clearly illustrate this complex topic for your child. As he or she grows, this knowledge will also develop and mature. Learning the basics at an early age will encourage more advanced learning in the future. Financial education may not be top on your list of things to teach your kids, but the ABCs of finances shouldn’t be overlooked. By opening a savings account for a child, you give them insight into a whole new world. They can learn about banking basics but it may also encourage them to ask more advanced questions. At Baton Rouge Telco, we believe education is an ongoing endeavor. We have materials and resources to help your children learn just as we can help you learn. It’s never too early (or too late!) to start! Learning works best when it involves real-life experiences. When you open a savings account for your child, you can take them to a Baton Rouge Telco branch and show them how to make deposits and withdrawals. You can introduce them to the ATM and how banking works within the credit union. You can also help your child use the Baton Rouge Telco website and app to manage their account. Show them how to check the account balance, transaction history, and interest earned. These real-life financial experiences are invaluable education opportunities! A savings account with no fees or special requirements is ideal for a child’s first venture into banking. At Baton Rouge Telco, we have several options perfect for children. Don’t forget: For all our youth accounts, there are no fees or minimums, competitive rates, and online and mobile access. You and your child can visit us at one of our four branches and open an All-Star Savers account with just $5! You can also complete the process online. Learn More: IRA CDs from Baton Rouge Telco With an All-Star Savers account, your child will earn interest at a competitive annual percentage yield (APY). Plus, we make it fun with rewards when they reach certain milestones. Does your child have a specific goal in mind? Sometimes, teaching about savings works best when there is a target. With the Baton Rouge Telco Christmas Club, your child can save throughout the year at a competitive APY. On November 1, the funds automatically transfer into your Regular Share Account. For older children who want to test the waters outside of a savings account, a student checking account may be a perfect fit. Designed specifically for students, this account will help them learn how to make deposits, withdrawals, and transfers using online and mobile banking. With our certificates, deposit $500 and choose how long you want to let the money grow for your children. You’ll be teaching them patience and financial responsibility as they watch the certificate mature. Are you ready to get started opening a savings account for a child? It’s as easy as filling out the application online or visiting a Baton Rouge Telco branch. When you visit a branch, you can show your child exactly how a credit union works. After all, we are here to help all generations of members! Learn more about youth savings accounts and how you can open a savings account for your child today! See Our Youth Savings Accounts Options & Benefits Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/the-difference-between-a-checking-savings-account Title: The Difference Between a Checking & Savings Account - Baton Rouge Telco Federal Credit Union Meta Description: Checking and savings accounts look similar in many ways, but each has its own features, purposes, and limitations. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/the-difference-between-a-checking-savings-account ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: The Difference Between a Checking & Savings Account H2: What Is a Checking Account? H3: Common Features H3: Rates and Fees H3: Things to Look For H3: How Safe Is Your Money? H2: What Is a Savings Account? H3: Common Features H3: Rates and Fees H3: Things to Look For H3: How Safe Is Your Money? H2: Checking vs. Savings: Different Beats, Same Goals H3: Desk Job H3: Savings Stakeout H3: Locking It Up H2: It Takes Two: The Best Bank Accounts for Your Needs H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: The Difference Between a Checking & Savings Account H2: What Is a Checking Account? H3: Common Features H3: Rates and Fees H3: Things to Look For H3: How Safe Is Your Money? H2: What Is a Savings Account? H3: Common Features H3: Rates and Fees H3: Things to Look For H3: How Safe Is Your Money? H2: Checking vs. Savings: Different Beats, Same Goals H3: Desk Job H3: Savings Stakeout H3: Locking It Up H2: It Takes Two: The Best Bank Accounts for Your Needs H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Checking and savings accounts look similar in many ways, but each has its own features, purposes, and limitations. Checking and savings accounts are like partners in a good cop drama. They’re sort of similar but also very different, with their own features, purposes, and limitations. And, they’re at their best when they are working together to serve and protect your financial interests. Let’s take a closer look at what checking and savings accounts are each designed to do, what sets them apart, and why you really need both to make the most of managing your money. A checking account is a deposit account held at a credit union or bank that allows you to make unlimited deposits and withdrawals. You will normally open a checking account whenever you join a bank or credit union. Your checking account is the workhorse of your financial portfolio, providing a place to keep your funds secure while also providing easy access to your money. You’ll usually have your paycheck or other income deposited into your checking account and you’ll pay many expenses from it, including: Checking accounts typically feature: Most checking accounts don’t offer interest on deposits and those that do tend to pay very low rates. This is changing, and some checking accounts, including Baton Rouge Telco’s Premier Checking Account, now offer decent rates or dividends. Most institutions require an opening balance of at least $5 to establish a checking account. While some accounts may attract several fees, these might be waived by many institutions if you meet certain requirements, such as maintaining a specified minimum balance in your account. Common checking account fees include: Checking accounts vary widely between institutions. Credit unions, as not-for-profit financial cooperatives owned by their members, are often able to offer more flexible terms than many commercial or online banks. When shopping for a checking account, look for: Money deposited in most checking accounts is guaranteed by the federal government against loss due to fraud or the collapse of your institution up to a total of $250,000. This guarantee is administered by the Federal Deposit Insurance Corporation or FDIC for banks and the National Credit Union Administration or NCUA for credit unions. Be sure to only bank with institutions that are registered with the FDIC or NCUA. Remember that if you are in the position to maintain a deposit over $250,000 in any single account, the money in excess of $250,000 is not federally insured. A savings account is a deposit account held at a credit union or bank that is designed for holding funds and building interest over the medium to long term. Many credit unions require members to open a savings account with or without a checking account when they join. Savings accounts are designed to hold funds that aren’t intended for immediate spending. Instead, this money is left to sit and accumulate interest over time, making these accounts a great way to save up for future expenses or create an emergency fund. While deposits are unlimited, most financial institutions limit the number of withdrawals or transfers permitted to just six a month. That said, some credit unions offer linked ATM services and allow you to write checks from your account, so your money can be accessed instantly if required. Savings accounts typically feature: Savings accounts offer higher interest rates than checking accounts (although less than money market savings accounts) while typically requiring a very low or no minimum balance. That said, interest is usually paid only on deposits over a certain threshold. Designed to limit the number of transactions per month, savings accounts don’t charge as many fees as checking accounts. They are still subject to charges including: High-yield savings accounts offer a higher interest rate of dividends but generally require a larger minimum balance in order to support this. Savings accounts typically include fewer features than your far busier checking account. That said, some important things to look out for include: Money deposited in most savings accounts is also guaranteed by the FDIC or NCUA up to a total of $250,000. While interests may be lower than many other forms of investments, this makes your savings account one of the safest possible ways to accumulate earnings. Also, remember that the interest rate you earn on deposits in a savings account is not fixed. In general, your APY will change in line with rate hikes or reductions by the Federal Reserve, but banks and credit unions are free to adjust rates as they wish. The following table summarizes the key differences between checking and savings accounts: Despite these differences, or rather because of them, properly managed checking and savings accounts work together to help you achieve your financial goals, including budgeting your income, spending money effectively, and building up savings over time. Here’s how: A checking account allows you to keep your funds secure and monitor your balance easily, while still having your money accessible for everyday use. The trick is to keep enough money in your account to cover your maximum monthly expenses and unforeseen costs. A savings account, on the other hand, lets your money accumulate more interest or dividends than it would if it were left in a typical checking account. Make sure any extra funds go into your savings account and stay there to maximize your benefit over time. Most experts suggest keeping 1-2 months of typical spending in your checking account—plus any minimum balance requirement—to cover your fluctuating monthly expenses. Anything beyond that can be put to better use. Excess funds should be put into a savings account. That way, they can act as an emergency reserve in case you lose your job, face unexpected expenses, and so forth. In addition, they’ll earn more interest or dividends over time than they would in a checking account. If you can accumulate more than three to six months’ worth of savings, this money can be set aside in a savings or money market account as an emergency fund, invested in share certificates, or put aside in a specialist college savings or retirement fund. How Much You Should Keep In A Checking Account Not every institution offers the same account features or charges the same fees. It’s worth taking the time to look at the offerings from different institutions. In many cases, your local credit union may be able to provide more flexibility and better rates than many bigger banks. At Baton Rouge Telco we offer a range of high-quality features on both checking and savings accounts to help our members manage their day-to-day expenses better while building towards their long-term financial goals. Choose from our range of federally insured checking accounts, including: You’ll need as little as $5 to open any of our checking accounts, which all come with overdraft protection as well as real-time debit controls and alerts. And, you’ll be able to access cash from your paycheck up to two days sooner with 2Day Early Pay®. Baton Rouge Telco’s Traditional Savings Account features: We also offer money market accounts, share certificates, and other fully insured specialized accounts to help you save for important events and a better future. Contact us today to set up your ideal Baton Rouge Telco account combination or click below to learn more about how a checking account can be your gateway to complete financial control. Why You Should Open a Checking Account Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/types-of-visa-credit-cards Title: Types Of Visa Credit Cards - Baton Rouge Telco Federal Credit Union Meta Description: If you’re searching for a new credit card, you may be wondering how to choose between the vast array of options available to you. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/types-of-visa-credit-cards ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Types Of Visa Credit Cards H2: Factors To Consider When Choosing A Credit Card H3: 1. Your Credit Score H3: 2. The Perks H3: 3. Your Spending Habits H3: 4. The APR H2: Baton Rouge Telco’s Credit Cards H3: Visa Gold H3: Visa Cash Back H3: Visa Secured H2: Shared Features Of All Baton Rouge Telco Cards H2: Learn More About Our Credit Cards H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Types Of Visa Credit Cards H2: Factors To Consider When Choosing A Credit Card H3: 1. Your Credit Score H3: 2. The Perks H3: 3. Your Spending Habits H3: 4. The APR H2: Baton Rouge Telco’s Credit Cards H3: Visa Gold H3: Visa Cash Back H3: Visa Secured H2: Shared Features Of All Baton Rouge Telco Cards H2: Learn More About Our Credit Cards H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. If you’re searching for a new credit card, you may be wondering how to choose between the vast array of options available to you. If you’re searching for a new credit card, you may be wondering how to choose between the vast array of options available to you. At Baton Rouge Telco, we offer a range of credit cards with unique benefits. And, our credit cards are available through Visa, which is one of the most popular credit card companies on the market. So, no matter where you go, retailers who accept credit cards will accept Visa. We’ve created this guide to help you understand the types of Visa credit cards, but also to assist you in deciding why you may want to choose one over the other. There are a few key factors to consider when deciding what type of credit card is best for you. One of the main factors will be your credit score. Some cards require certain credit scores to be approved. For example, if you are starting to establish your credit, it’s more likely you’ll be approved for a secured credit card than an unsecured card. A secured card is one where you place down a monetary deposit, which becomes your credit limit. This ensures that if you fail to pay your bill, after a period of time, the company can recoup the costs by claiming your deposit. Some credit cards come with perks, and these vary amongst credit card companies. For example, you can compare the cash back rates and other rewards to choose the best fit for you. Certain credit cards give specific rewards for different types of purchases. For example, one card may offer cash back on gas purchases, but another card could have benefits at grocery stores. Take a look at your spending habits and match up where you spend the most money with the highest corresponding rewards. The APR – or annual percentage rate – associated with your credit card likely depends on the cards that you can qualify for. However, if you have the option, you should aim for a card that has a lower APR. While you should try to always pay your credit card in full, on time every month, sometimes things happen. In this case, you’ll want to have a credit card with the lowest possible rates. This can especially be important if you are using a card to consolidate your debt from other high-interest credit cards. Here’s a detailed breakdown of the credit cards that we offer. Visa Gold comes with a rate as low as 7.90% APR1. This excellent rate can be a great option if you need to consolidate debt from higher-interest credit cards. This card comes with a minimum credit limit of $500. It is an unsecured credit card. Visa Cash Back is a card optimized for people who prioritize cash rewards on their credit cards. With this card, you can earn 2% back on all purchases. Not only this but the cash back rewards are not capped. So, you can earn unlimited rewards every month as long as spending is within your credit limit. This card is slightly higher, starting at 9.24% APR2, making it a better option if you’re prepared to pay off your bill in full to avoid accruing interest. A Visa Secured card is great if you’re looking to build and/or repair your credit. As mentioned above, a secured credit card is one where you put down a cash deposit as collateral. This cash deposit ensures that if you do not pay your credit card bill, after an established time frame, the company can claim your deposit. This feature makes secured cards more accessible if you have a lower credit score or little credit history. If this fits your situation, it may be the ideal card for you. Now that we’ve discussed the key differences between cards, there are a few additional features that apply to all of our cards. If you want to learn more about our credit cards and the features that Baton Rouge Telco offers, you can find more information on our website. Just follow the following link below! 1 Quoted APR is Telco’s current rate. All rates, terms, and conditions are subject to change and are based on creditworthiness. Low minimum monthly payment of only 2% of balance or $10 (whichever is greater). Cash advance fee of $10.00 or 2% of the amount of each cash advance (whichever is greater). Overdraft Protection Fee: $5.00 per transfer — if you opted to use the LOC as a transfer source. Account Transfer Fee: $10.00 or 2%, whichever is greater, per transaction. This includes any transfer of funds from the LOC to an account, either in person or electronically. 2 Quoted APR is Telco’s current rate. Cash Back Card rate is a variable rate tied to prime rate and can be adjusted every year. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/visa-vs-mastercard-whats-the-difference Title: Visa vs. Mastercard: What's The Difference? - Baton Rouge Telco Federal Credit Union Meta Description: Credit cards are very common these days. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/visa-vs-mastercard-whats-the-difference ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Visa vs. Mastercard: What's The Difference? H2: Visa and Mastercard Similarities H3: Worldwide Acceptance H3: Payment Card Network Processors H3: Zero Liability Fraud Protection H3: Special Arrangements with Merchants H3: 24/7 Customer Service H2: Visa and Mastercard Differences H3: Exclusive Arrangements with Retailers H3: Roadside Assistance H3: Return Protection H3: Card Popularity H2: Why Visa Cards Come Out on Top H2: Why Credit Union Visa Cards Are Best H2: Apply for a Visa Card Today H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Visa vs. Mastercard: What's The Difference? H2: Visa and Mastercard Similarities H3: Worldwide Acceptance H3: Payment Card Network Processors H3: Zero Liability Fraud Protection H3: Special Arrangements with Merchants H3: 24/7 Customer Service H2: Visa and Mastercard Differences H3: Exclusive Arrangements with Retailers H3: Roadside Assistance H3: Return Protection H3: Card Popularity H2: Why Visa Cards Come Out on Top H2: Why Credit Union Visa Cards Are Best H2: Apply for a Visa Card Today H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Credit cards are very common these days. Credit cards are very common these days. It’s hard to find a business that doesn’t accept them. There are also things that you can do with a credit card that are very hard to do with cash, like reserve a hotel room or rental car, or make online purchases. Two of the most common credit card brands are Visa and Mastercard. Which one should you go with if you want to apply for a card? Is one better than the other? What are the differences? We’ll cover their similarities and differences now so you’ll have all the information you need to decide on the right card for you. Visa and Mastercard are alike in many ways. Most merchants accept both cards, and they both offer certain benefits and protections. Let’s look at some of these similarities in detail. Millions of merchants accept both Visa and Mastercard in more than 200 countries. They are the largest credit card companies in the world, and their names are universally recognized. Visa and Mastercard are both payment card network processors. Instead of being issued directly to consumers, the cards that carry their names are issued by banks, credit unions, and other financial institutions. American Express and Discover, in comparison, are issued directly to consumers. If you have either a Visa or Mastercard and someone steals your card information and makes unauthorized purchases, both companies will protect you. As long as you report the fraudulent purchases within a reasonable period, you will not be held responsible for them. Both cards have special arrangements with airlines, hotels, and retailers that give users certain perks. Some cards offer airline miles, for example, for each purchase made. Other cards may entitle cardholders to special deals and discounts with certain retailers. Whether a Visa or Mastercard offers special perks depends on the card issuer and card tier level. Customer service for both Visa and Mastercard is typically handled by the banks or credit unions that issue the cards. In most cases, 24/7 access to a representative is available. Online account access is also common, and you can quickly check your balance, available credit, and other account information from a laptop or mobile device. Most of the differences between Visa and Mastercard originate from the financial institutions that issue the cards and the card tier level. There are, however, some significant differences to consider that may make one card better than the other depending on your situation and needs. Let’s look at these differences a little closer. Both Visa and Mastercard have made exclusive arrangements where certain retailers will only accept one of the two cards. Costco, for example, only accepts Visa. Both Visa and Mastercard offer roadside assistance. Visa’s roadside assistance is provided on all of their cards. Mastercard, however, only provides roadside assistance at certain tier levels. It’s important to point out that fees do apply for using this service. Still, it’s comforting to know that you have a lifeline if you have trouble with your vehicle. Many merchants allow customers to return items they purchased within a certain period for a full refund. Return protection is a benefit offered by Visa and Mastercard that extends the return period or provides a return benefit where one may not have previously existed. To file a claim, the item must be in new condition and be shipped to either Visa or Mastercard – not returned to the merchant. Although both Visa and Mastercard offer return protection at certain tier levels, there are differences between the two programs. Visa’s program provides 90 days of protection, for example, while Mastercard’s program only offers 60 days. There are also differences in the claim amounts and product eligibility. More than twice as many people use credit cards from Visa than Mastercard. According to the Nilson Report, the volume of purchases made with Visa is projected to be 53% in 2024. The projected volume with Mastercard in the same year is only 23%. When considering credit card options, you want to apply for the card that offers you the most benefits and has the greatest acceptance. Overall, Visa is known to be the most efficient card, which would account for more than twice as many people preferring it over Mastercard. The roadside assistance benefit offered by Visa is essential to consider. Provided by Visa on all of their cards, it can be an important safety net if you are on a trip and something happens to your car. Although the service isn’t free, it’s comforting to know that help is only a phone call away if you need it. A Visa card is also preferable if you travel internationally. Although the number of merchants that accept Visa and Mastercard is nearly the same domestically, Visa has greater acceptance internationally. Visa is accepted by approximately 46 million international merchants, while only 37 million accept Mastercard. Travel protection is another significant benefit that may be offered at the higher tiers. Consider the Mastercard World vs. Visa Signature. Both are top-tier cards, but they offer very different benefits. For example, if you travel internationally, Mastercard World does not offer travel insurance, while Visa Signature does. Obtaining a Visa card from a credit union is worth considering for two fundamental reasons – lower interest rates and excellent customer service. Credit unions are not-for-profit organizations that are owned by their members. Because they don’t have to worry about making money for shareholders, credit unions can offer Visa cards with lower interest rates and fees than banks. Another critical thing to consider with credit unions is their excellent customer service. If you join a credit union, you won’t be just another face in the crowd – you’ll be a valued member. If you ever need assistance or have a question about your Visa account, help is usually just a phone call away. Applying for a Visa credit card from Baton Rouge Telco Federal Credit Union is a quick and straightforward process. You may even be able to obtain a Visa card the same day you apply at one of our branches. Our Visa cards don’t have any annual fees, and the low interest rates are ideal for balance transfers. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/what-can-i-use-a-personal-loan-for Title: What Can I Use a Personal Loan For? - Baton Rouge Telco Federal Credit Union Meta Description: Understanding what you can use a personal loan for allows you to take advantage of this flexible form of financing. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/what-can-i-use-a-personal-loan-for ## Headings Structure: H2: You're about to leave our secure website. 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We are not responsible for any content or information posted to third-party sites. Understanding what you can use a personal loan for allows you to take advantage of this flexible form of financing. Understanding what you can use a personal loan for allows you to take advantage of this flexible form of financing. Personal loans can be used for both planned and unplanned expenses — all while staying within budget. What makes a personal loan different from other loans is its “unsecured” nature, meaning it doesn’t require collateral (such as your house or car) to borrow against the loan. This makes being approved for a personal loan easily accessible and useful. We’ll discuss some of the most common uses of personal loans below to help you decide if one is right for you! If you find it difficult to manage high-interest debt from multiple sources, getting a personal loan can help to consolidate debt. One of the most common uses of a personal loan is to pay off a credit card but car loans and student loans fall close behind. A personal loan with a lower interest rate than your other debts can benefit you by saving you money. Use the money from your loan to pay off other, more crushing debts to simplify keeping up with varied monthly payments and due dates from loans. Instead of having to make payments to multiple creditors, you’ll be able to make one simple payment a month, without struggling to pay off that high interest. Car loans are secured by the vehicle you choose. Therefore, the interest rates tend to be lower than those on unsecured personal loans. Unless you can score an unusually low rate, an auto loan is more than likely the route you’ll take to finance your new ride. Personal loans don’t require a down payment whereas most car loans do. This could be a great use of a personal loan as long as you stay committed to making the payments. Using a personal loan is better than emptying your savings or emergency funds when trying to pay for a large expense. Keep in mind, personal loans aren’t limited to cars but can be used for a boat, RV, or even a private jet! Medical expenses are usually unannounced and can be costly. Even if you’re medically insured, only a certain extent is covered, leaving the remainder for you to pay. A personal loan is helpful because it can be quickly disbursed to you for unexpected expenses and emergencies. If you find out you’re sick or injured and need to undergo a procedure, you won’t have to delay this with the help of a loan and the money readily available. Sometimes upgrading your home becomes a necessity. Old appliances can break, your roof can leak, or plumbing could malfunction. Fixing an issue could be very expensive and you may not have the cash on hand. Using a personal loan for home improvements is a smart way to avoid draining your savings or racking up your credit card limit. You might also use a personal loan to upgrade your home to boost its value, especially if you’re looking to sell. The important difference between Home Equity or Line of Credit (HELOC) loans and a personal loan is that the home loans require you to put your house down as collateral. If you end up defaulting on the loan, your home could be taken away from you. A personal loan doesn’t require you to put your home or other assets as collateral. Read More: Are Personal Loans a Bad Idea? Moving locations can help you cut your housing costs so you can have more room in your budget, can allow you to find a better space for your family, or allow you to take advantage of new career opportunities. The cost of a move can vary widely depending on how far you’re going and how much stuff you have. The cost to have professional movers box up your things and transport them to your new abode can cost you thousands of dollars. A long-distance move can sometimes be just as expensive as moving locally. When you have to relocate and need a solution to cover the price of moving, a personal loan could provide the funds you need to get settled in your new home. Some moments in life require extra funding. A personal loan can be the solution. For example, buying an engagement ring is a significant purchase, and it may be hard to pay for a ring upfront. Wedding expenses can also add up. And honeymoons can certainly be pricey but any dream vacation comes with a price tag. A personal loan can help you pay for it all! Without savings to pay for these special occasions, a personal loan may seem like a great idea. The interest rate may be lower than if you used a credit card, and a well-managed loan can boost your credit rating. Read More: How Many Personal Loans Can You Have at Once? Whether you’re starting a new business, freelancing on the side, or are an established business owner, financing can be important to the success of your business in the long run. For larger purchases (that could take longer to pay off) relative to your business needs, a personal loan can offer a low and fixed interest rate with predictable monthly payments. A personal loan can be a good option for emergencies and planned expenses alike, especially when compared to high-interest rate credit cards or payday loans. Whether you should get a personal loan depends on the loan offer and your personal financial situation. Click below to learn more about personal loans and how to apply for one today! Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/what-is-a-good-interest-rate-on-a-personal-loan Title: What Is a Good Interest Rate on a Personal Loan? - Baton Rouge Telco Federal Credit Union Meta Description: Personal loans are a convenient source of cash to help cover unexpected expenses, pay for projects, or keep in reserve for a rainy day. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/what-is-a-good-interest-rate-on-a-personal-loan ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: What Is a Good Interest Rate on a Personal Loan? 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We are not responsible for any content or information posted to third-party sites. Personal loans are a convenient source of cash to help cover unexpected expenses, pay for projects, or keep in reserve for a rainy day. Personal loans are a convenient source of cash to help cover unexpected expenses, pay for projects, or keep in reserve for a rainy day. So, what’s a good personal loan interest rate? The rates for a traditional personal loan are about 13% to 29% but can be as low as 7.5% if you get a loan from your local credit union. Personal loan rates are much more affordable than payday loan rates, which can equal an APR as high as 600%. Read on to find out more about interest rates on personal loans and payday loan alternatives! Many factors go into setting interest rates on personal loans. That’s why there’s no single answer to the question, “What rate will I get for my personal loan?” The Federal Reserve sets an interest rate that credit unions and other financial institutions charge each other to borrow money overnight, so they always have a required amount of funds in their deposit accounts. The Federal Funds Rate has a ripple effect through the economy, impacting the rate you get for your personal loan! The Federal Reserve can choose to raise the rate (to cool inflation) or lower the rate (to recover from a recession). Currently, the rate is 0.5% but it’s expected to go up. Did you know that different people get different rates for their personal loans? That’s why you often see the annual percentage rate (APR) shown as a range, like 7.50% to 18%. People with excellent credit and higher income will get the 7.50% and people with lower credit scores and moderate income may get the 18%. (If your credit and income are too low, you may not be approved for an unsecured personal loan—but there are other options for you!) The term you choose for your personal loan will also impact the rate you get. Shorter terms get lower rates, while longer terms get higher rates. This is because short terms are considered safer bets! You may be able to lower your rate if you agree to certain conditions. For example, Baton Rouge Telco offers a 0.5% discount if you sign up for automatic deduction of your loan payments from your checking account, plus direct deposits. Each type of personal loan comes with different rates. So you need to consider which loan you’re applying for when you ask the question, “What’s a good personal loan interest rate?” Read More: How Many Personal Loans Can You Have at Once? A traditional personal loan is unsecured, which means you don’t need to provide any collateral. Like all personal loans, you can use the funds for just about anything, including bills, repairs, vacations, weddings, or tuition. Here’s what you can expect for a personal loan from Baton Rouge Telco: Other financial institutions may offer personal loan rates of 13% to 29%. So, depending on your credit score, a good rate for a personal loan could be anything under 18%—and even better if you qualify for a rate under 10%! A secured loan is ideal for people who want to build or establish credit. You need to provide collateral, like funds in a savings account or even stock. Depending on the type of collateral you provide, an unsecured personal loan from Baton Rouge Telco offers these features: When you’re short on cash, you may be tempted to apply for a payday loan to get you through to your next paycheck—but payday loan rates of 391% to 600% make it a very expensive option. Here’s how a payday loan works: Another problem with payday loans is that many people need to roll over the loan into the next pay period and beyond. This means you have to pay a new, higher finance charge. According to incharge.org, the average payday loan amount is $375. If the finance charge is $15/$100 borrowed, your loan total becomes $431.25. Then if you roll that loan over, you now pay the $15/$100 finance charge on $431.25 = $64.69 for a new loan total of $495.94. In one month, your loan amount has soared from $375 to almost $500! Read More: Are Personal Loans a Bad Idea? Luckily, there’s another type of loan that can help you in times of need. A Baton Rouge Telco Solutions Loan offers a lower APR than a payday loan—by far. You can take advantage of these great features of a Solutions Loan: As long as you have no open bankruptcy or foreclosure, a Solutions Loan is a stress-free way to get funds so you can sleep at night knowing your bills are paid. Read More: What Can I Use a Personal Loan For? By now, we’ve hopefully answered your question, “What’s a good personal loan interest rate?” Yes, the rate you get will depend on your financial situation. But this article has shown that you want to aim for a rate that’s under 18%. Meanwhile, 28% is a great rate for a special Solutions Loan. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/what-is-a-mortgage-origination-fee Title: What is a Mortgage Origination Fee? - Baton Rouge Telco Federal Credit Union Meta Description: A mortgage origination fee is an amount you pay your lender to process your home loan application. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/what-is-a-mortgage-origination-fee ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: What is a Mortgage Origination Fee? H2: How a Mortgage Origination Fee Works H2: Where You’ll See a Mortgage Origination Fee H2: How to Compare Home Loans With and Without the Fee H2: Are There Ever Caps on Mortgage Origination Fees? H2: What Is a Mortgage Origination Fee: Next Steps H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: What is a Mortgage Origination Fee? H2: How a Mortgage Origination Fee Works H2: Where You’ll See a Mortgage Origination Fee H2: How to Compare Home Loans With and Without the Fee H2: Are There Ever Caps on Mortgage Origination Fees? H2: What Is a Mortgage Origination Fee: Next Steps H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. A mortgage origination fee is an amount you pay your lender to process your home loan application. A mortgage origination fee is an amount you pay your lender to process your home loan application. The fee is usually 0.5% to 1% of your home loan, though some lenders may cap it for a jumbo mortgage. A mortgage origination fee typically covers the underwriting process, which is when your lender checks your financial documents to make sure you qualify for your home loan. Read on to find out all you need to know about this common fee. When you apply for your home loan, your lender will give you the mortgage origination fee as a percentage. For example, if your home loan is for $300,000 and your mortgage origination fee is 1%, then you’ll pay your lender $3,000. A mortgage origination fee may include the costs of: Note: It takes time for your lender to go over all your documents and they may ask for supporting information during the underwriting process. It’s a necessary step to make sure you can afford your mortgage and won’t be at risk of losing your home. A mortgage origination fee will be listed among your closing costs, which means you pay it when you seal the deal on your new home. It’s a good idea to find out exactly what the mortgage origination fee will be when you’re shopping around for the best lender because closing costs can quickly add up. Closing costs may include: Note: With some home loans, it might be possible to roll some of your closing costs into your loan instead of paying all the fees upfront. This might save you money in the beginning but will cost you more in the long run because your loan is bigger and so you’ll pay more interest. Be wary of lenders who offer to waive the mortgage origination fee because you might find they just call the fee by a different name – or they might hike up your interest rate to cover the difference. Here are a few pointers on comparing home loans: Use a home loan calculator to explore different possibilities of loan terms, fixed vs. variable interest rates, down payment amounts, and other factors that will affect your mortgage experience. You might be able to find a lender who will cap your mortgage origination fee so you’re not penalized for buying a high-value home. For example, Baton Rouge Telco caps origination fees on jumbo loans. This means there will be a limit on your mortgage origination fee when your home loan is for $400,000 or more. So, let’s say you got a home loan for $800,000. With Baton Rouge Telco, you would pay a fixed mortgage origination fee instead of the usual 1% of your home loan. This is good news when 1% of $800,000 is a whopping $8,000! The bottom line is that you need to consider more than just the purchase price of a house when it comes to figuring out your budget. You need to make sure you’ve set money aside for your mortgage origination fee and other closing costs, too. The mortgage origination fee is an essential expense. It compensates your lender for taking all the steps to make sure you and your family get a home loan you can comfortably afford. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/what-is-an-ira-cd-everything-you-need-to-know Title: What Is an IRA CD: Everything You Need to Know - Baton Rouge Telco Federal Credit Union Meta Description: Individual retirement accounts (IRAs) are popular investments that many use to grow their retirement nest eggs. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/what-is-an-ira-cd-everything-you-need-to-know ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: What Is an IRA CD: Everything You Need to Know H2: How Do IRA CDs Work? H2: What Are the Advantages of IRA CDs? H3: Your Money Is Safe H3: Your Return Is Guaranteed H3: Different Terms Are Available H2: What Are the Disadvantages of IRA CDs? H3: You Might Miss Out on a Better Investment H3: Early Withdrawal Penalties H3: Other Investments May Earn More H3: Inflation H2: When Should You Consider Opening an IRA CD? H2: How to Open an IRA CD H3: 1. Shop Around H3: 2. Select the IRA Account Type H3: 3. Open Your Account H3: 4. Fund Your Account H3: 5. Make Sure Your Funds Are Invested H2: IRA CD Alternatives H2: Are CDs a Good Investment for Everyone? H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: What Is an IRA CD: Everything You Need to Know H2: How Do IRA CDs Work? H2: What Are the Advantages of IRA CDs? H3: Your Money Is Safe H3: Your Return Is Guaranteed H3: Different Terms Are Available H2: What Are the Disadvantages of IRA CDs? H3: You Might Miss Out on a Better Investment H3: Early Withdrawal Penalties H3: Other Investments May Earn More H3: Inflation H2: When Should You Consider Opening an IRA CD? H2: How to Open an IRA CD H3: 1. Shop Around H3: 2. Select the IRA Account Type H3: 3. Open Your Account H3: 4. Fund Your Account H3: 5. Make Sure Your Funds Are Invested H2: IRA CD Alternatives H2: Are CDs a Good Investment for Everyone? H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Individual retirement accounts (IRAs) are popular investments that many use to grow their retirement nest eggs. Individual retirement accounts (IRAs) are popular investments that many use to grow their retirement nest eggs. Some people prefer IRA CDs, however, which are special types of IRAs that only invest in CDs. They offer several important benefits that are worth considering if you are nearing retirement or you’re already retired. An IRA is a type of retirement account that is set up by an individual. Unlike 401(k) accounts, they are not offered by employers. There are two primary types of IRAs—traditional and Roth. The main difference is in how they are taxed. With a traditional IRA, the money you contribute is taxed when you make withdrawals. With a Roth IRA, you make contributions with money that has already been taxed and your withdrawals are not taxed. IRAs invest in a portfolio of assets that often include stocks and bonds. An IRA CD, however, only invests in certificates of deposit (CDs). IRA CDs are typically offered by banks, credit unions, and brokerage firms. IRA CDs have several important advantages to consider. They are great options for those who are looking for safe investments with guaranteed returns. When you invest in an IRA CD, you can be assured that your money is safe. It is backed by the federal government for up to $250,000. If it’s with a bank, it’s backed by the Federal Deposit Insurance Corporation (FDIC). If it’s with a credit union, it’s backed by the National Credit Union Administration (NCUA). IRAs that invest in CDs offer guaranteed returns. CDs have fixed interest rates, and you can determine how much you’ll earn before you invest your money. The CDs you invest in may have different terms that you can choose from. You could choose a three-month CD, for example, if you think rates will rise in the near future. Terms of up to five years may also be available. It’s important to also consider the potential negatives of IRA CDs before investing. Depending on your needs, another investment type may be a better choice. When you invest in an IRA CD, your money is essentially locked up until the maturity date. If a better investment comes along, or if interest rates rise, you’ll have to wait until the maturity date to reinvest. Although it’s possible to withdraw your money from a CD before the maturity date, you’ll be assessed an early withdrawal penalty for doing so. If you’re withdrawing your money to invest in something with a better interest rate, the penalty could negatively affect the benefits of switching to another investment. Investments in certain stocks and exchange-traded funds (ETFs) may offer higher rates of return than IRA CDs. These investments are usually riskier than IRA CDs, however. With inflation currently at a 40-year high, the growth of your IRA CD may not keep up with the rising cost of living. IRA CDs are ideal for those who prefer low-risk investments with guaranteed returns. They may be good options for those who are nearing retirement or are already retired, for example. Although other investments may provide a higher return, retirees can use IRA CDs to earn steady incomes without worrying about losing their money. Opening an IRA CD is simple and easy and can usually be completed in just a few minutes at a bank or credit union. Depending on the financial institution, you may also have the option of doing it online. The following steps outline the process. Before you open an IRA CD, it’s best to shop around to see which financial institution offers the best rates. It’s also important to make sure the bank or credit union you’re considering offers IRA CDs and not just IRAs that invest in portfolios of assets. Determining whether to go with a traditional or Roth IRA will have important tax implications. Be sure to consider the pros and cons of each option before making a decision. To open your account, you’ll need to provide certain documents and information, such as: After your account is established, you can start making contributions. There are several ways you can do this including transferring funds from your bank account, writing a check, making an electronic payment, or transferring funds (rollover) from another retirement account. The last step is to make sure that your contributions are invested in a CD. Be sure to review the different CDs your financial institution offers to see which option is best for your needs. IRA CDs are great options for those who prefer steady, predictable, and safe income. They may not be the best choice, however, for those who want to maximize the growth potential of their retirement accounts. A traditional or Roth IRA that invests in a portfolio of assets instead of CDs may be a better option. A 401(k), which is a retirement account offered by an employer, is another option to consider. An important benefit of these accounts is that you can contribute more each year than with an IRA. Some employers also offer contribution matching, which means they’ll contribute $1 to your account for every $1 that you contribute, up to a certain amount. If you’re considering investing in a CD or an IRA CD, it’s important to consider both the pros and cons of CDs to make sure they are a good choice for your needs. Although they do have many important advantages, they may not be the best choice for every situation. Click on the following link to learn more about the advantages and disadvantages of CDs. Certificate of Deposit: Advantages and Disadvantages Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/what-is-good-apr-car-loan Title: What Is a Good APR for a Car Loan? - Baton Rouge Telco Federal Credit Union Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/what-is-good-apr-car-loan ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: What Is a Good APR for a Car Loan? H2: What Is APR, Anyway? H2: How Does It Affect My Payment? H2: What Kind of APR Can I Get? H2: So, What Is a Good APR? H2: Tips for Getting the Best APR H2: Where Do I Start? H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: What Is a Good APR for a Car Loan? H2: What Is APR, Anyway? H2: How Does It Affect My Payment? H2: What Kind of APR Can I Get? H2: So, What Is a Good APR? H2: Tips for Getting the Best APR H2: Where Do I Start? H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. If you’re in the market for a car, you’re likely in the market for a car loan, but how can you be sure you are being offered financing at the lowest rates in today’s auto market? Perhaps the most important number to look at is the annual percentage rate or APR you’re offered on the loan. This is essentially how much interest you will pay for each year that you have your car loan, over and above the sticker price of the car. So, what is a good APR for a car loan these days? Before we get into that, let’s take a closer look at how the APR of your loan is determined and how it affects what you end up paying. Your APR is not the same as the interest rate on your loan. Instead, it includes both the interest rate applied to the price you negotiate for your car plus markups to include financing and other fees that are rolled into the final price you pay for your vehicle. In other words, the interest rate does not include the fees charged for the loan—but the APR does—making it a measure that encompasses the total cost of borrowing money each year. That means there is often a significant difference between the interest rate and APR charged on your loan, and usually there is not a whole lot you can do about this. That’s why it’s important to understand how the APR and the length of your loan work together to determine how much you pay for your car in total over time. Dealers will often offer you longer loans with a smaller monthly payment for a similar or slightly higher APR. This can be tempting because you will have more money in your pocket every month. What you won’t see is the extra interest you end up paying because you take a year or two longer to pay off your loan. Instead, it’s important to negotiate the lowest APR you can with the highest monthly payment you can afford. Having enough cash on hand to make a significant down payment (ideally up to 20% of the value of your car) will also help. Be wary of lenders who offer loans with suspiciously good APRs. In many cases, these loans will have hidden fees such as mandatory balloon payments later in the loan’s life or even penalties to prevent you from paying off your loan sooner. The APR you qualify for when you apply for a loan depends on several factors, but most importantly on your credit score. Your credit score is based on how well you have handled credit and debt in the past. It’s based on credit records compiled by independent credit bureaus. If you’ve missed payments or run up high levels of debt in the past, these are likely to lower your credit score (which isn’t good, because ideally, you want a high number associated with your score). You can check your credit score for free by contacting any of the three big credit bureaus, Experian, Equifax, and Transunion or through FICO, which develops the scoring systems the bureaus use. Some banks, credit unions, and card issuers also allow you to check your score. The higher your credit score, the lower the APR you are likely to be offered. If you have a low credit score, however, you may have to accept higher interest loans with lower interest rates and a higher APR. You’ll also usually end up paying more in fees and financing costs. Borrowers with bad credit may find it impossible to qualify for credit from a reputable lender. APR also varies according to the type of car you are buying. In fact, APRs are typically higher on used cars than on newer ones. This is because lenders consider used cars to be more of a risk to finance since they are worth much less than new models. This makes it relatively more expensive to recover costs if you should default on, or stop paying your loan. When you head to your lender or car dealership—taking into account your credit rating and if you’re in the market for a used or new vehicle—what APR can you expect? First, it’s important to understand that APRs are based on real interest rates which vary over time according to conditions in the wider economy. U.S. News & World Report publishes updated monthly APR figures that can help you find the average car loan interest rate by credit score for both new and used cars, as well as for refinanced loans. Here are the latest average auto loan interest rates for February 2024. * Source: U.S. News and World Report, Average Auto Loan Rates in February 2024 The credit bureau Experian’s quarterly automotive finance market report is also a good source of updated average rates by credit score. Either way, it’s clear that when you’re in the market for a new or used vehicle, a better credit score is going to save you money over the life of your loan. It’s wise to plan ahead for a car purchase by taking steps to improve your credit score in advance by ensuring you pay off bills on time, keeping credit card balances well below your borrowing limit, and keeping your debt payments below a third of your total monthly budget. Start early. Over time, simply taking care of your bills responsibly could save you up to 10% on your auto loan APR! If you’re not in a rush to buy a car, you’ll have the luxury of time to improve your credit score. But, what if you need a car rather quickly? Here are some ways you can find the best auto APRs you can when time is short: Shop around: Talk to a wide range of lenders including banks, credit unions, online lenders, and auto financers. You'll soon get a sense of the typical APRs each offers for buyers in different credit score ranges. Run the numbers: Use a car loan calculator to compare offers. Consider not only how much you are paying per month, but also how much you will pay over the life of the whole loan. Go prepared: Get financing in place before you head to the dealership. You will know exactly how much you can afford to spend and how much you will pay each month so that you can focus on finding the right car for your needs. Go local: It’s worth checking out credit unions in your area for car financing. As financial cooperatives, they can often offer better APRs than larger lenders and can tailor terms better to your needs. Some, including Baton Rouge Telco, can even help you buy cars directly. Now that you know how your credit score and the type of vehicle you are purchasing can affect your APR and loan terms, it’s time to start planning your purchase. At Baton Rouge Telco, we offer some of the most competitive loan rates around on both new and used vehicles and refinances. What’s more, we give our members APR discounts of up to 0.5%. With us, you can expect: Contact us today or click below to learn more about how Baton Rouge Telco can help get you moving for less. Benefits of Our Auto Loans Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/whats-a-good-apr-for-a-car-loan-find-out-now Title: What Is a Good APR for a Car Loan? - Baton Rouge Telco Federal Credit Union Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/what-is-good-apr-car-loan ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: What Is a Good APR for a Car Loan? H2: What Is APR, Anyway? H2: How Does It Affect My Payment? H2: What Kind of APR Can I Get? H2: So, What Is a Good APR? H2: Tips for Getting the Best APR H2: Where Do I Start? H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: What Is a Good APR for a Car Loan? H2: What Is APR, Anyway? H2: How Does It Affect My Payment? H2: What Kind of APR Can I Get? H2: So, What Is a Good APR? H2: Tips for Getting the Best APR H2: Where Do I Start? H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. If you’re in the market for a car, you’re likely in the market for a car loan, but how can you be sure you are being offered financing at the lowest rates in today’s auto market? Perhaps the most important number to look at is the annual percentage rate or APR you’re offered on the loan. This is essentially how much interest you will pay for each year that you have your car loan, over and above the sticker price of the car. So, what is a good APR for a car loan these days? Before we get into that, let’s take a closer look at how the APR of your loan is determined and how it affects what you end up paying. Your APR is not the same as the interest rate on your loan. Instead, it includes both the interest rate applied to the price you negotiate for your car plus markups to include financing and other fees that are rolled into the final price you pay for your vehicle. In other words, the interest rate does not include the fees charged for the loan—but the APR does—making it a measure that encompasses the total cost of borrowing money each year. That means there is often a significant difference between the interest rate and APR charged on your loan, and usually there is not a whole lot you can do about this. That’s why it’s important to understand how the APR and the length of your loan work together to determine how much you pay for your car in total over time. Dealers will often offer you longer loans with a smaller monthly payment for a similar or slightly higher APR. This can be tempting because you will have more money in your pocket every month. What you won’t see is the extra interest you end up paying because you take a year or two longer to pay off your loan. Instead, it’s important to negotiate the lowest APR you can with the highest monthly payment you can afford. Having enough cash on hand to make a significant down payment (ideally up to 20% of the value of your car) will also help. Be wary of lenders who offer loans with suspiciously good APRs. In many cases, these loans will have hidden fees such as mandatory balloon payments later in the loan’s life or even penalties to prevent you from paying off your loan sooner. The APR you qualify for when you apply for a loan depends on several factors, but most importantly on your credit score. Your credit score is based on how well you have handled credit and debt in the past. It’s based on credit records compiled by independent credit bureaus. If you’ve missed payments or run up high levels of debt in the past, these are likely to lower your credit score (which isn’t good, because ideally, you want a high number associated with your score). You can check your credit score for free by contacting any of the three big credit bureaus, Experian, Equifax, and Transunion or through FICO, which develops the scoring systems the bureaus use. Some banks, credit unions, and card issuers also allow you to check your score. The higher your credit score, the lower the APR you are likely to be offered. If you have a low credit score, however, you may have to accept higher interest loans with lower interest rates and a higher APR. You’ll also usually end up paying more in fees and financing costs. Borrowers with bad credit may find it impossible to qualify for credit from a reputable lender. APR also varies according to the type of car you are buying. In fact, APRs are typically higher on used cars than on newer ones. This is because lenders consider used cars to be more of a risk to finance since they are worth much less than new models. This makes it relatively more expensive to recover costs if you should default on, or stop paying your loan. When you head to your lender or car dealership—taking into account your credit rating and if you’re in the market for a used or new vehicle—what APR can you expect? First, it’s important to understand that APRs are based on real interest rates which vary over time according to conditions in the wider economy. U.S. News & World Report publishes updated monthly APR figures that can help you find the average car loan interest rate by credit score for both new and used cars, as well as for refinanced loans. Here are the latest average auto loan interest rates for February 2024. * Source: U.S. News and World Report, Average Auto Loan Rates in February 2024 The credit bureau Experian’s quarterly automotive finance market report is also a good source of updated average rates by credit score. Either way, it’s clear that when you’re in the market for a new or used vehicle, a better credit score is going to save you money over the life of your loan. It’s wise to plan ahead for a car purchase by taking steps to improve your credit score in advance by ensuring you pay off bills on time, keeping credit card balances well below your borrowing limit, and keeping your debt payments below a third of your total monthly budget. Start early. Over time, simply taking care of your bills responsibly could save you up to 10% on your auto loan APR! If you’re not in a rush to buy a car, you’ll have the luxury of time to improve your credit score. But, what if you need a car rather quickly? Here are some ways you can find the best auto APRs you can when time is short: Shop around: Talk to a wide range of lenders including banks, credit unions, online lenders, and auto financers. You'll soon get a sense of the typical APRs each offers for buyers in different credit score ranges. Run the numbers: Use a car loan calculator to compare offers. Consider not only how much you are paying per month, but also how much you will pay over the life of the whole loan. Go prepared: Get financing in place before you head to the dealership. You will know exactly how much you can afford to spend and how much you will pay each month so that you can focus on finding the right car for your needs. Go local: It’s worth checking out credit unions in your area for car financing. As financial cooperatives, they can often offer better APRs than larger lenders and can tailor terms better to your needs. Some, including Baton Rouge Telco, can even help you buy cars directly. Now that you know how your credit score and the type of vehicle you are purchasing can affect your APR and loan terms, it’s time to start planning your purchase. At Baton Rouge Telco, we offer some of the most competitive loan rates around on both new and used vehicles and refinances. What’s more, we give our members APR discounts of up to 0.5%. With us, you can expect: Contact us today or click below to learn more about how Baton Rouge Telco can help get you moving for less. Benefits of Our Auto Loans Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/when-should-you-refinance-your-mortgage Title: When Should You Refinance Your Mortgage? - Baton Rouge Telco Federal Credit Union Meta Description: When you first purchased a home, you borrowed money from a lender to buy the home from the seller. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/when-should-you-refinance-your-mortgage ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: When Should You Refinance Your Mortgage? H2: When You Should Refinance H3: Reduce Your Monthly Payment H3: Adjust Your Loan Terms H3: Take Cash Out H3: Improved Credit Score H2: When to Reconsider Refinancing H2: When Should You Refinance Your Mortgage: Next Steps H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: When Should You Refinance Your Mortgage? H2: When You Should Refinance H3: Reduce Your Monthly Payment H3: Adjust Your Loan Terms H3: Take Cash Out H3: Improved Credit Score H2: When to Reconsider Refinancing H2: When Should You Refinance Your Mortgage: Next Steps H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. When you first purchased a home, you borrowed money from a lender to buy the home from the seller. When you first purchased a home, you borrowed money from a lender to buy the home from the seller. Now you’re making monthly loan payments to that lender to pay back the money that you borrowed. When you refinance your mortgage, you take out a new loan. This new loan pays off the old loan and you’re left making payments on the new loan. Refinancing your mortgage can be a great way to save money and get loan terms that beat your current terms. Refinancing can cost money in the short term. Yet, in the long run, you may be able to save a good amount of money by refinancing your mortgage to a lower rate. We’ve covered the basics of what a refinance is but you may be wondering “why” a refinance could be a good option. There are many reasons why you should refinance your mortgage. With a refinance, you can lower your current interest rate on the amount of money you owe. Refinancing your loan to a lower interest rate will in turn decrease your monthly payment. This means paying the bank less and more of your money going toward paying off your home. If your concern is about the number of years on your current mortgage, refinancing to a shorter term may be the solution.  Monthly payments with a shortened term may seem like a higher rate, but the years of payments over time will decrease. While you may not see a payment reduction every month, the amount of interest paid is less, which will save you money down the road. Every month that you make your mortgage payment, you’re building equity in your home. A cash-out refinance allows you to utilize the equity in your home. These funds mean having the ability to do things such as consolidating your current debt, completing those overdue home improvements, or building a comfy cash cushion for emergency expenses. With a cash-out refinance, you can lower your total monthly expenses and keep more money in your pocket. Your credit history plays a significant role in determining your credit score. If your credit score has seen a significant improvement from the time you took out the loan, you could qualify for a better rate. When you refinance, a lender will take into consideration your credit score and history. If you are paying bills on time and in full, your credit score has probably increased. Keep a close eye on your credit history and take advantage of getting a free credit report before starting the refinance process. Make sure refinancing makes sense. At Baton Rouge Telco, our refinancing process generally takes less than 4 weeks after close to getting approval! You will also want to consider the hidden fees that may come with a refinance. These typically include a mortgage application fee, origination fee, and an appraisal fee. Baton Rouge Telco’s only in-house fees are the $50 application fee and an origination fee of 1% of the total loan amount at closing not to exceed $4,000. The origination fee can be waived with .25% added to your qualifying interest rate. Remember, a refinance is meant to ultimately save you money — ensuring you break even or save is a good rule of thumb. Otherwise, it may be more helpful to consider the process at a later time. You’ve learned the basics of a refinance and why or why not to consider one for your home. Whether this is your first time refinancing or you’re experienced in the process, our team here can help make the process quick and hassle-free. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents-financial-insights/why-you-should-pay-your-credit-card-balance-in-full-each-month Title: Why you should pay your credit card balance in full each month - Baton Rouge Telco Federal Credit Union Meta Description: Credit cards offer convenience, flexibility, and some even offer rewards like cash back. Language: en Canonical URL: https://www.brtelco.org/talking-cents-financial-insights/why-you-should-pay-your-credit-card-balance-in-full-each-month ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Why you should pay your credit card balance in full each month H2: Paying The Minimum H2: If You Only Pay the Minimum H2: The Power of Paying More H2: Paying In Full H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Why you should pay your credit card balance in full each month H2: Paying The Minimum H2: If You Only Pay the Minimum H2: The Power of Paying More H2: Paying In Full H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Credit cards offer convenience, flexibility, and some even offer rewards like cash back. Credit cards offer convenience, flexibility, and some even offer rewards like cash back. They make it possible to afford large purchases when you don’t necessarily have the cash on hand. However, with great power comes great responsibility. If you develop a habit of overspending each month and can’t pay it back, you’ll be charged a high-interest rate on your balance each month until it’s paid in full. However, we understand that sometimes money gets tight and you might not be able to cover the full balance. So below we listed the differences between paying the minimum, paying more than the minimum, and paying your balance off completely so you can understand the pros and cons of each. Credit cards allow you to make a minimum payment that’s a small percentage of the total balance. You must pay at least the minimum to avoid late fees, an interest rate increase, and damage to your credit score. While paying the minimum will help you avoid negative consequences with your credit card company, stopping there will lock you into a cycle of credit card debt each month until it’s finally paid in full. If you charge up to $500 and only pay the minimum of $25, it would take you two years to pay off your balance plus whatever interest was added on top of your original balance. If you keep using your credit card and only pay the minimum amount, your balance and interest charges are going to grow exponentially. As time passes, it’ll only become more difficult to get out of credit card debt. If you’re facing a credit card bill you can’t pay off in full, consider at least paying more than the minimum payment. Let’s go back to that $500 credit card bill and only paying the $25 minimum. While never using the card again means two years of debt and extra interest payments. But what if you could pay $50 a month instead? You’d be debt-free 13 months faster and pay less in interest. Ideally, the best thing to do is pay your credit card bill in full each month if you can afford it. Over time, this will make your credit score go up and keep you out of debt. The easiest way to keep your monthly balance attainable is to not overspend and always keep track of your monthly statement so that you can afford it. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents/auto Title: Baton Rouge Telco Language: en Canonical URL: https://www.brtelco.org/talking-cents/auto ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Auto H3: What Is a Good APR for a Car Loan? H3: The Difference Between Leasing & Buying a Car H3: What’s a Good APR for a Car Loan? Find Out Now H3: Learn What Time of Year Is Best for Buying A Car H3: How To Buy A Car With A Pre-Approved Loan H3: First Time Buyers Guide To Car Loans H3: Auto Loan FAQs (Answered) H3: Should I Refinance My Car? (w/Alternatives) H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Auto H3: What Is a Good APR for a Car Loan? H3: The Difference Between Leasing & Buying a Car H3: What’s a Good APR for a Car Loan? Find Out Now H3: Learn What Time of Year Is Best for Buying A Car H3: How To Buy A Car With A Pre-Approved Loan H3: First Time Buyers Guide To Car Loans H3: Auto Loan FAQs (Answered) H3: Should I Refinance My Car? (w/Alternatives) H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Purchasing a vehicle can be a very stressful process due to the amount of money at stake and the importance of the decisions you have to make. Looking for a car loan might sometimes feel like an endless search. We’ve all seen the commercials – on Christmas day, a wife opens her presents to find a shiny car key inside. Purchasing a car can be an exciting process, but it can also come with a lot of confusion, anxiety, and stress. Buying a car can be daunting. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents/checking Title: Baton Rouge Telco Language: en Canonical URL: https://www.brtelco.org/talking-cents/checking ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Checking H3: 8 Reasons Why You Should Open a Checking Account H3: How Much You Should Keep In A Checking Account H3: How to Read a Check [Quick Guide] H3: Joint Checking Account: Is It Right For You? H3: Does Opening a Checking Account Affect Your Credit Score? H3: The Difference Between a Checking & Savings Account H3: 6 Steps to Open a Checking Account H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Checking H3: 8 Reasons Why You Should Open a Checking Account H3: How Much You Should Keep In A Checking Account H3: How to Read a Check [Quick Guide] H3: Joint Checking Account: Is It Right For You? H3: Does Opening a Checking Account Affect Your Credit Score? H3: The Difference Between a Checking & Savings Account H3: 6 Steps to Open a Checking Account H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. It sounds silly, but managing your finances without a checking account is a little like trying to operate a car without a dashboard. Checking accounts are a necessity for most people since they make paying bills, buying groceries, and other expenses much easier than they would be with cash alone. Maybe you’re considering opening a joint checking account with a significant other, family member, or friend. Checking and savings accounts look similar in many ways, but each has its own features, purposes, and limitations. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents/credit-card Title: Baton Rouge Telco Language: en Canonical URL: https://www.brtelco.org/talking-cents/credit-card ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Credit Card H3: How can transferring your credit card balance save you money? H3: Why you should pay your credit card balance in full each month H3: Applying For Visa Credit Cards Online H3: Choosing Credit Cards For Business H3: Compare Visa Credit Card Benefits H3: Visa vs. Mastercard: What's The Difference? H3: Types Of Visa Credit Cards H3: How To Get A Visa Card H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Credit Card H3: How can transferring your credit card balance save you money? H3: Why you should pay your credit card balance in full each month H3: Applying For Visa Credit Cards Online H3: Choosing Credit Cards For Business H3: Compare Visa Credit Card Benefits H3: Visa vs. Mastercard: What's The Difference? H3: Types Of Visa Credit Cards H3: How To Get A Visa Card H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. A balance transfer means moving all or part of your debt from one or more credit cards to another credit card. Credit cards offer convenience, flexibility, and some even offer rewards like cash back. Visa credit cards are not only one of the most widely accepted credit card brands available. Using a credit card for business use can be an ideal way to keep track of purchases and get rewards while you spend. Choosing a credit card is a big decision. Credit cards are very common these days. If you’re searching for a new credit card, you may be wondering how to choose between the vast array of options available to you. You may have noticed when you’ve been out shopping that not all credit cards are accepted everywhere. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents/loans Title: Baton Rouge Telco Language: en Canonical URL: https://www.brtelco.org/talking-cents/loans ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Loans H3: How Much House Can I Afford? H3: Secured vs Unsecured Personal Loans H3: Are Personal Loans a Bad Idea? H3: What Can I Use a Personal Loan For? H3: How to Qualify for a Personal Loan H3: What Is a Good Interest Rate on a Personal Loan? H3: Emergency Loans: How to Get a Personal Loan Fast H3: How Many Personal Loans Can You Have at Once? H3: Payday Loans vs. Personal Loans H3: Refinance vs. Home Equity Line of Credit: What's the Difference? H3: Guide to Home Equity Lines of Credit (HELOCs) H3: Auto Loan FAQs (Answered) H3: Should I Refinance My Car? (w/Alternatives) H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Loans H3: How Much House Can I Afford? H3: Secured vs Unsecured Personal Loans H3: Are Personal Loans a Bad Idea? H3: What Can I Use a Personal Loan For? H3: How to Qualify for a Personal Loan H3: What Is a Good Interest Rate on a Personal Loan? H3: Emergency Loans: How to Get a Personal Loan Fast H3: How Many Personal Loans Can You Have at Once? H3: Payday Loans vs. Personal Loans H3: Refinance vs. Home Equity Line of Credit: What's the Difference? H3: Guide to Home Equity Lines of Credit (HELOCs) H3: Auto Loan FAQs (Answered) H3: Should I Refinance My Car? (w/Alternatives) H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Buying a house is exciting, especially as you begin to tour new places and eventually find what’s perfect for you. If you want to refinance credit card debt, make a big purchase, do some home improvements, or start a small business of your own—you might be in the market for a personal loan. Lenders offer personal loans as a handy way to finance major purchases or fund travel, pay for weddings, or cover unexpected medical expenses. Understanding what you can use a personal loan for allows you to take advantage of this flexible form of financing. Personal loans can be used for almost any purpose. Personal loans are a convenient source of cash to help cover unexpected expenses, pay for projects, or keep in reserve for a rainy day. If you don’t have an emergency fund, you may need a source of quick cash when an unexpected problem occurs. Personal loans can be advantageous for people who need an extra source of cash to pay for a necessary expense or another cost. When the need to borrow arises, payday loans and personal loans are two common choices. Home equity lines of credit and cash-out refinances are two ways to turn your home's current value into funds you can use to accomplish other goals. When many think about getting a loan for something, they often turn to personal loans, home equity loans, or credit cards. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents/mortgage Title: Baton Rouge Telco Language: en Canonical URL: https://www.brtelco.org/talking-cents/mortgage ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Mortgage H3: How Much House Can I Afford? H3: 7 Types of Mortgage Loans You Should Know H3: When Should You Refinance Your Mortgage? H3: 7 First-Time Home Buyer Tips to Save You Money H3: What is a Mortgage Origination Fee? H3: Refinance vs. Home Equity Line of Credit: What's the Difference? H3: Should I buy an existing home or new construction? H3: Guide to Home Equity Lines of Credit (HELOCs) H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Mortgage H3: How Much House Can I Afford? H3: 7 Types of Mortgage Loans You Should Know H3: When Should You Refinance Your Mortgage? H3: 7 First-Time Home Buyer Tips to Save You Money H3: What is a Mortgage Origination Fee? H3: Refinance vs. Home Equity Line of Credit: What's the Difference? H3: Should I buy an existing home or new construction? H3: Guide to Home Equity Lines of Credit (HELOCs) H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Buying a house is exciting, especially as you begin to tour new places and eventually find what’s perfect for you. When you’re buying a home, there’s a variety of types of mortgage loans from which to choose. When you first purchased a home, you borrowed money from a lender to buy the home from the seller. A successful home buying experience is all about getting the details right from start to finish. A mortgage origination fee is an amount you pay your lender to process your home loan application. Home equity lines of credit and cash-out refinances are two ways to turn your home's current value into funds you can use to accomplish other goals. Purchasing a home is a major life investment and you should weigh all options before you start your search. When many think about getting a loan for something, they often turn to personal loans, home equity loans, or credit cards. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents/news Title: Baton Rouge Telco Language: en Canonical URL: https://www.brtelco.org/talking-cents/news ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: News H3: Can You Direct Deposit Into a Savings Account? H3: Money Market vs. Savings Accounts H3: How to Save Money for Your Kids H3: Should You Open a Savings Account for Your Child? H3: What Is an IRA CD: Everything You Need to Know H3: How Much House Can I Afford? H3: Does Opening a Savings Account Affect Your Credit Score? H3: Secured vs Unsecured Personal Loans H3: Certificate of Deposit: Advantages and Disadvantages H3: What Can I Use a Personal Loan For? H3: How to Qualify for a Personal Loan H3: What Is a Good Interest Rate on a Personal Loan? H3: Emergency Loans: How to Get a Personal Loan Fast H3: How Many Personal Loans Can You Have at Once? H3: 7 Types of Mortgage Loans You Should Know H3: When Should You Refinance Your Mortgage? H3: 7 First-Time Home Buyer Tips to Save You Money H3: What is a Mortgage Origination Fee? H3: Giving Back During the Holiday Season H3: Guide to Home Equity Lines of Credit (HELOCs) H3: Are you ready for hurricane season? H3: Learn What Time of Year Is Best for Buying A Car H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: News H3: Can You Direct Deposit Into a Savings Account? H3: Money Market vs. Savings Accounts H3: How to Save Money for Your Kids H3: Should You Open a Savings Account for Your Child? H3: What Is an IRA CD: Everything You Need to Know H3: How Much House Can I Afford? H3: Does Opening a Savings Account Affect Your Credit Score? H3: Secured vs Unsecured Personal Loans H3: Certificate of Deposit: Advantages and Disadvantages H3: What Can I Use a Personal Loan For? H3: How to Qualify for a Personal Loan H3: What Is a Good Interest Rate on a Personal Loan? H3: Emergency Loans: How to Get a Personal Loan Fast H3: How Many Personal Loans Can You Have at Once? H3: 7 Types of Mortgage Loans You Should Know H3: When Should You Refinance Your Mortgage? H3: 7 First-Time Home Buyer Tips to Save You Money H3: What is a Mortgage Origination Fee? H3: Giving Back During the Holiday Season H3: Guide to Home Equity Lines of Credit (HELOCs) H3: Are you ready for hurricane season? H3: Learn What Time of Year Is Best for Buying A Car H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Many employers now offer direct deposit as a payroll option. Money market accounts and savings accounts are two popular options for saving and growing your money by earning interest. Every parent wants to help their child make a solid start in life financially, but what is the best way to save money for the future? With access to computers, the internet, and more, children are learning in new and innovative ways. Individual retirement accounts (IRAs) are popular investments that many use to grow their retirement nest eggs. Buying a house is exciting, especially as you begin to tour new places and eventually find what’s perfect for you. A savings account is a great way to save for something you want or need. If you want to refinance credit card debt, make a big purchase, do some home improvements, or start a small business of your own—you might be in the market for a personal loan. A certificate of deposit, also known as a CD, is a popular investment option if you’re wanting to upgrade from a typical savings account. Understanding what you can use a personal loan for allows you to take advantage of this flexible form of financing. Personal loans can be used for almost any purpose. Personal loans are a convenient source of cash to help cover unexpected expenses, pay for projects, or keep in reserve for a rainy day. If you don’t have an emergency fund, you may need a source of quick cash when an unexpected problem occurs. Personal loans can be advantageous for people who need an extra source of cash to pay for a necessary expense or another cost. When you’re buying a home, there’s a variety of types of mortgage loans from which to choose. When you first purchased a home, you borrowed money from a lender to buy the home from the seller. A successful home buying experience is all about getting the details right from start to finish. A mortgage origination fee is an amount you pay your lender to process your home loan application. It's the most wonderful time of the year and for most, that means spending quality time with family and friends. When many think about getting a loan for something, they often turn to personal loans, home equity loans, or credit cards. I know what you're thinking. You've lived in south Louisiana your entire life and go through hurricane season every year. Of course, you're ready... but are you really? We’ve all seen the commercials – on Christmas day, a wife opens her presents to find a shiny car key inside. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents/retirement Title: Baton Rouge Telco Language: en Canonical URL: https://www.brtelco.org/talking-cents/retirement ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Retirement H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Retirement H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents/saving Title: Baton Rouge Telco Language: en Canonical URL: https://www.brtelco.org/talking-cents/saving ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Saving H3: Can You Direct Deposit Into a Savings Account? H3: Money Market vs. Savings Accounts H3: How to Save Money for Your Kids H3: Should You Open a Savings Account for Your Child? H3: What Is an IRA CD: Everything You Need to Know H3: Does Opening a Savings Account Affect Your Credit Score? H3: Certificate of Deposit: Advantages and Disadvantages H3: Shop like a pro on Black Friday H3: The Difference Between a Checking & Savings Account H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Saving H3: Can You Direct Deposit Into a Savings Account? H3: Money Market vs. Savings Accounts H3: How to Save Money for Your Kids H3: Should You Open a Savings Account for Your Child? H3: What Is an IRA CD: Everything You Need to Know H3: Does Opening a Savings Account Affect Your Credit Score? H3: Certificate of Deposit: Advantages and Disadvantages H3: Shop like a pro on Black Friday H3: The Difference Between a Checking & Savings Account H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Many employers now offer direct deposit as a payroll option. Money market accounts and savings accounts are two popular options for saving and growing your money by earning interest. Every parent wants to help their child make a solid start in life financially, but what is the best way to save money for the future? With access to computers, the internet, and more, children are learning in new and innovative ways. Individual retirement accounts (IRAs) are popular investments that many use to grow their retirement nest eggs. A savings account is a great way to save for something you want or need. A certificate of deposit, also known as a CD, is a popular investment option if you’re wanting to upgrade from a typical savings account. We've all heard the phrase work smarter, not harder and this holiday season is no different. Checking and savings accounts look similar in many ways, but each has its own features, purposes, and limitations. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/talking-cents/security Title: Baton Rouge Telco Language: en Canonical URL: https://www.brtelco.org/talking-cents/security ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H2: Security H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H2: Security H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/1st-time-auto Title: - Baton Rouge Telco Federal Credit Union Meta Description: Check out our first-time auto loans with flexible terms, designed to help you drive away in the new or used car of your dreams. Apply today! Language: en Canonical URL: https://www.brtelco.org/products/1st-time-auto ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Auto Loans For New Buyers H2: First Time Auto Buyer Program H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Auto Loans For New Buyers H2: First Time Auto Buyer Program H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. We offer first-time auto loans to members with little to no credit history, without a co-signer needed.1 Our flexible terms and program can help you get into that new or used car you've been dreaming of. Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. 1Co-signer is not required for loans under $20,000. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/all-star-savers Title: All-Star Savers: Kids Savings Account - Baton Rouge Telco Federal Credit Union Meta Description: Jumpstart your child's financial journey with a kid's savings account. Open an account today to help your child learn financial literacy. Language: en Canonical URL: https://www.brtelco.org/products/all-star-savers ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: All-Star Savers: Kids Savings Account H2: An Account that Makes Saving Fun! H2: Get a Head Start on Developing Smart Saving Habits H2: Opening a Savings Account for Kids is as Easy as A-B-C H2: 1 H2: 2 H2: 3 H3: ★★★★★ H2: Rates H2: Let Us Know If You Have Questions or You Are Ready to Get Started H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: All-Star Savers: Kids Savings Account H2: An Account that Makes Saving Fun! H4: No Service Fees H4: Generous Interest and Dividends H4: Bonus Rewards H4: Easy Online Banking H2: Get a Head Start on Developing Smart Saving Habits H2: Opening a Savings Account for Kids is as Easy as A-B-C H5: Step H2: 1 H4: Parent Joins Us H5: Step H2: 2 H4: Apply Online H5: Step H2: 3 H4: Deposit and Earn! H3: ★★★★★ H2: Rates H2: Let Us Know If You Have Questions or You Are Ready to Get Started H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Encourage early financial literacy with a savings account that’s designed to make saving enjoyable and rewarding for kids. Kids don’t have to worry about monthly fees decreasing their balances. As they watch account balances grow, kids may be encouraged to save more. Earn bonus rewards for reaching savings milestones. Easily access accounts online or with our mobile banking app. Children are never too young to start saving for the future. Our All-Star Savers account is ideal for helping Louisiana’s youth learn the importance of managing their money! Kids can access their no-fee accounts online or with our banking app and watch their account balances grow as they earn interest and dividends. Open an account today to give your child a head start on learning financial literacy. The child's parent or guardian must be a member of Baton Rouge Telco – joining is simple. Click apply and select All-Star Savers to open a new youth savings account. Make deposits into your child's account and start earning interest and dividends! “Baton Rouge Federal Credit Union is a place that always makes me feel valued.” Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Avoid transaction denials or bounced check fees. If you have insufficient funds in your account, we will transfer funds from your savings account to make sure you are covered for only $5 per transaction. Manage your finances anywhere, anytime. Access your accounts online or with our Mobile Banking App. Get quick balance and transaction information through text messages. Get FREE financial guidance from local experts to help you achieve your goals. Take advantage of our FREE 24/7 virtual financial coach to help you manage your finances. *APY Annual Percentage Yield. APY is Telco’s current rate. Rates may change after account is opened. Minimum deposit of $5.00 to open account. Dividends are calculated on a daily balance method and are compounded and credited monthly. Earn Milestone Rewards: $10 when the balance reaches $100 and another $10 when the balance reaches $500. Parents can access accounts online and in the app. Plus, you can set up automatic or make one-time transfers from your account. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/auto-loans Title: Auto Loans - Great Rates for New & Used Cars and Trucks - Baton Rouge Telco Federal Credit Union Meta Description: Whether purchasing a new or used car, truck, or SUV–or refinancing your current one–you'll save money with our low-rate auto loans. Click to apply today! Language: en Canonical URL: https://www.brtelco.org/products/auto-loans ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Auto Loans H2: New & Used Autos H2: Refinance H2: First Time Auto Buyer Program H2: Member Loyalty Discounts H3: Eligibility: H2: Rates H2: Browse local dealers’ inventory online when it’s convenient for you! H2: Frequently Asked Questions H2: Need help finding the right auto loan? H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Auto Loans H2: New & Used Autos H2: Refinance H2: First Time Auto Buyer Program H2: Member Loyalty Discounts H3: Eligibility: H2: Rates H2: Browse local dealers’ inventory online when it’s convenient for you! H2: Frequently Asked Questions H2: Need help finding the right auto loan? H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Find, finance, and get all the feels about your next vehicle from the comfort of your own home. Make your dream car, truck, van, or SUV a reality with our easy online application. Trade in your auto loan and cruise into lower payments with our vehicle refinance loan. We’ll find the right rate and term for your budget so you can focus on what matters most…you! We offer first-time auto loans to members with little to no credit history, without a co-signer needed.2 Our flexible terms and program can help you get into that new or used car you've been dreaming of. We believe in rewarding loyalty. That's why eligible members may receive up to a 0.50% APR discount off their approved auto loan rate. With our Member Auto Center, you can shop local inventory online from the comfort of your own home. Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. 1Auto Refinance Program applies to refinanced vehicles from another financial institution and cannot be applied to a loan that is already funded at Baton Rouge Telco Federal Credit Union. *Rates shown are Telco's current rates and include a 0.50% discount for members with an automatic deduction from a Telco checking account and direct deposit relationship. Terms and conditions apply. Rates are subject to change and depend on various factors including creditworthiness. Your rate may differ. Maximum financing on all auto loans is 120%. 2Co-signer is not required for loans under $20,000. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/car-buying-service Title: Car Buying Service | Member Auto Center - Baton Rouge Telco Federal Credit Union Meta Description: Our Member Auto Center makes car shopping simple. Buy or sell your vehicle in just minutes. Start shopping local inventories today. Language: en Canonical URL: https://www.brtelco.org/products/car-buying-service ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Car Buying Service H2: Car Buying H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Car Buying Service H2: Car Buying H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Browse local dealers’ inventory online when it’s convenient for you! With our Member Auto Center, you can shop local inventory online from the comfort of your own…whatever! Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/certificates-iras Title: Share Certificates & IRA CDs - Baton Rouge Telco Federal Credit Union Meta Description: Securely save for the future with guaranteed returns. Open a share certificate or IRA CD today to take advantage of some of the best CD rates in Baton Rouge! Language: en Canonical URL: https://www.brtelco.org/products/certificates-iras ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Share Certificates & IRA CDs H2: Plan for Tomorrow with Guaranteed Returns H2: Share Certificates H2: IRA Certificates H2: Open Your Share Certificate or IRA CD Account in 3 Easy Steps! H2: 1 H2: 2 H2: 3 H3: ★★★★★ H2: Rates H2: Have a Question? We’re Here to Help! H2: Frequently Asked Questions H2: Have questions about Certificates & IRAs? H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Share Certificates & IRA CDs H2: Plan for Tomorrow with Guaranteed Returns H4: Competitive Rates H4: Flexible Terms H4: No Market Volatility H4: Federally Insured H2: Share Certificates H2: IRA Certificates H2: Open Your Share Certificate or IRA CD Account in 3 Easy Steps! H5: Step H2: 1 H4: Gather Your Info H5: Step H2: 2 H4: Apply Online H5: Step H2: 3 H4: Ready, Set, Earn! H3: ★★★★★ H2: Rates H2: Have a Question? We’re Here to Help! H2: Frequently Asked Questions H2: Have questions about Certificates & IRAs? H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Secure your future with steady growth and no surprises! Take advantage of some of the best CD rates in Baton Rouge to grow your savings for a large purchase or retirement. Open a share certificate or IRA CD today to take the first step toward achieving your savings goals. Grow your savings faster than with other savings account options. Choose the term that best fits your financial goals to maximize the growth of your savings. Returns are not affected by stock market fluctuations. The NCUA provides up to $250,000 of federal insurance per account. Grow your savings with our secure share certificates that offer competitive rates, guaranteed returns, and peace of mind for your long-term financial goals. Our flexible terms allow you to choose the best option for your needs. Take advantage of convenient features that make it easy to grow your savings. Grow your retirement nest egg with guaranteed returns and the tax advantages of an IRA. IRA certificates are protected from market volatility, which makes them a low-risk option for those who are looking for stability in their retirement planning. Take advantage of convenient features that simplify long-term savings. We’ll need your driver’s license, social security number, and proof of address. Click the button below or stop by a branch to begin the process. Meet the minimum deposit requirement and start earning monthly dividends! “I have only had the best experiences with Baton Rouge TELCO! Friendly, courteous, helpful, prompt and knowledgeable are all words that I would use to describe my visits (in person, on the phone, and email). Thank you for the best customer experience!” Stormy N., Baton Rouge, LA Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Grow your money with a competitive rate and make up to six monthly withdrawals without penalty. Accounts are federally insured for up to $250,000 by the NCUA. Whether you need no-fee essential checking, checking that earns interest, business checking, or an account that helps you rebuild your banking history, we've got you covered. Get FREE financial guidance from local experts to help you achieve your goals. Take advantage of our FREE 24/7 virtual financial coach to help you manage your finances. *APY = Annual Percentage Yield. Dividend rates are subject to change without notice. Dividends are posted monthly based on the daily balance and compounded monthly. Baton Rouge Telco Federal Credit Union Share Certificate rates are variable rate accounts and are subject to change at any time. Rates are not guaranteed. Penalties for early withdrawals may apply. Fees may reduce earnings on the account. The minimum to open and to earn dividends on all certificates is $500. 1Step-up options apply to two-year terms and up, where your rate can jump once before maturity. Certificates of Deposit & IRA CDs Fees apply to early withdrawals. Your certificate matures when you reach the end of your term. At that time, it will automatically renew for the same term at the new APY if we are not notified in advance that you wish to withdraw your funds. With an IRA CD, you have more flexibility to withdraw funds before retirement compared to other IRAs. But you will likely be penalized if you withdraw funds before the maturity date when your chosen certificate term is complete. For example, three months to five years. Penalties for early withdrawal will be waived if you are over 72 and your withdrawal is part of a Required Minimum Distribution (RMD), or upon death. With an IRA CD, you can still choose a Traditional or Roth account but the difference is that your funds are invested in Certificates of Deposit (CDs) instead of stocks or bonds. This means your funds are safeguarded from stock market volatility. You can choose a term of three months to five years and longer terms earn higher yields for both CDs and IRA CDs. The end of the term is called the maturation date.  At the maturation date, you have a 10-day grace period to close your certificate, withdraw funds, or transfer to a new certificate. This can be done by phone, in person, or by secure chat. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/christmas-club Title: Christmas Savings Accounts - Baton Rouge Telco Federal Credit Union - Baton Rouge Telco Federal Credit Union Meta Description: Save for the holidays all year round with a Christmas savings account and spend time with your loved ones without the financial stress. Open your account today! Language: en Canonical URL: https://www.brtelco.org/products/christmas-club ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Christmas Savings Accounts H2: Four Great Reasons to Open a Christmas Club Savings Account H2: Fill Your Holiday with Joy, Not Debt H2: Open Your Christmas Club Savings Account in 3 Easy Steps! H2: 1 H2: 2 H2: 3 H3: ★★★★★ H2: Rates H2: Have a Question? We’re Here to Help! H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Christmas Savings Accounts H2: Four Great Reasons to Open a Christmas Club Savings Account H4: No Monthly Fees H4: Competitive Rates H4: Track Your Progress H4: Federally Insured H2: Fill Your Holiday with Joy, Not Debt H2: Open Your Christmas Club Savings Account in 3 Easy Steps! H5: Step H2: 1 H4: Gather Your Info H5: Step H2: 2 H4: Apply Online H5: Step H2: 3 H4: Start Saving! H3: ★★★★★ H2: Rates H2: Have a Question? We’re Here to Help! H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Start saving today for a stress-free holiday season! Make deposits throughout the year and earn a competitive interest rate to grow your money. Your balance automatically transfers to your regular savings account on November 1st. Open a Christmas Club Savings Account today to start preparing for the perfect holiday celebration in Baton Rouge! Your money stays in your account, which helps you reach your savings goal faster.1 Grow your savings with a great interest rate to have more for holiday celebrations and gifts. With online and mobile banking you can track your progress and start planning your purchases! Your account is insured by the National Credit Union Administration (NCUA) for up to $250,000. Give yourself the gift of financial peace this holiday season! Save for Christmas and other holidays throughout the year to make unforgettable memories with your loved ones in Baton Rouge without the financial stress. Key features of our Christmas Club Savings Account include: Are you ready for a brighter holiday? We’ll need your driver’s license, social security number, and proof of address. Click the button below or stop by a branch to begin the process. Make regular deposits to your account to save for the holidays. “I love Baton Rouge TELCO. Every time I go there, everyone is so professional and courteous!” Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Grow your savings with our certificates and enjoy dividends and a higher APY than regular savings accounts. Terms range from 3 months to 5 years. With our IRA certificates, you can plan for retirement by choosing longer terms for higher rates. Whether you need no-fee essential checking, checking that earns interest, business checking, or an account that helps you rebuild your banking history, we've got you covered. Get FREE financial guidance from local experts to help you achieve your goals. Take advantage of our FREE 24/7 virtual financial coach to help you manage your finances. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/credit-cards Title: Credit Cards - Baton Rouge Telco Federal Credit Union Meta Description: Our Visa credit card offers include great rates, big savings, and awesome rewards. Click to find the best credit union credit card for you. Applying online is easy! Language: en Canonical URL: https://www.brtelco.org/products/credit-cards ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Credit Cards H2: Visa® Gold H2: Visa Cash Back H2: Visa Secured H2: Starter Visa Gold H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Credit Cards H2: Visa® Gold H2: Visa Cash Back H2: Visa Secured H2: Starter Visa Gold H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Unlock financial flexibility with our Visa Gold credit card, offering a low rate to put you in control of making purchases with ease and confidence. Maximize your rewards with our Visa Cash Back credit card, adding value to your everyday spending and putting more cash in your pocket. Build or rebuild your credit with our Visa secured credit card, providing a safe and responsible way to establish a positive credit history. Establish credit with our starter Visa credit card, perfect for members with little or no credit history. Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. *Quoted APR is Telco’s current rate. All rates, terms, and conditions are subject to change and are based on creditworthiness. Low minimum monthly payment of only 2% of balance or $10 (whichever is greater). Cash advance fee of $10.00 or 2% of the amount of each cash advance (whichever is greater). Overdraft Protection Fee: $5.00 per transfer — if you opted to use the LOC as a transfer source. Account Transfer Fee: $10.00 or 2%, whichever is greater, per transaction. This includes any transfer of funds from the LOC to an account, either in person or electronically. See our Visa Disclosure for additional information. APR rates for the Visa Gold Credit Card are determined by several factors, including your credit score, monthly income, and debt repayment history. Please contact your nearest Baton Rouge Telco branch to learn more. Cash Back Card rate is a variable rate tied to the prime rate and can be adjusted every year. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/elite-checking Title: Elite Checking Account - Baton Rouge Telco Federal Credit Union - Baton Rouge Telco Federal Credit Union Meta Description: Discover an everyday checking account that gives you everything you need. Enjoy no monthly fees and hassle-free banking. Click to open online! Language: en Canonical URL: https://www.brtelco.org/products/elite-checking ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Elite Checking Account H2: Four Great Reasons to Open an Elite Checking Account H2: Elite Checking Account Details H2: Open Your Elite Checking Account in 3 Easy Steps! H2: 1 H2: 2 H2: 3 H3: ★★★★★ H2: Rates H2: Open an Account Today Or Call for More Info H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Elite Checking Account H2: Four Great Reasons to Open an Elite Checking Account H4: No Monthly Fees H4: Earn Dividends H4: Mobile Banking H4: Federally Insured H2: Elite Checking Account Details H2: Open Your Elite Checking Account in 3 Easy Steps! H5: Step H2: 1 H4: Gather Your Info H5: Step H2: 2 H4: Apply Online H5: Step H2: 3 H4: Ready, Set, Earn! H3: ★★★★★ H2: Rates H2: Open an Account Today Or Call for More Info H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Simplify your finances with a no-fee, basic checking account designed for everyday use. Keep more of your hard-earned money in your account every month. Enjoy competitive interest rates on qualifying account balances. Manage your finances conveniently from your phone or tablet. The NCUA provides up to $250,000 of federal insurance per account. Elite Checking is the ideal everyday checking account. It is the perfect choice if you want to simplify your daily spending and enjoy fewer fees. Take advantage of convenient features and rewards that make banking easier and more rewarding. We’ll need your driver’s license, social security number, and proof of address. Click the button below or stop by a branch to begin the process. Meet the minimum deposit requirements and start earning monthly dividends! “I always have a great experience at Telco. The staff are definitely by far the best when it comes to Customer Service. No matter what you need they are friendly, good listeners and helpful. I recommend Telco for all of your banking needs.” Sandra W., Baton Rouge, LA Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Avoid transaction denials or bounced check fees. If you have insufficient funds in your account, we will transfer funds from your savings account to make sure you are covered for only $5 per transaction. Manage your finances anywhere, anytime. Access your accounts online or with our Mobile Banking App. Get quick balance and transaction information through text messages. Get FREE financial guidance from local experts to help you achieve your goals. Take advantage of our FREE 24/7 virtual financial coach to help you manage your finances. 1Balances over $2,500 are eligible. Rates may change after the account is opened. Minimum deposit of $5.00 to open the account. Dividends are calculated on a daily balance method and are compounded and credited monthly. 2 2-Day Early Pay is available for members with Telco accounts that set up direct deposit with their employer or other payer to receive electronic deposits of regular periodic payments(such as salary or government benefits). We will post ACH deposits immediately upon receipt from the Federal Reserve, which can be 2 business days before the actual effective date. However, early posting is not guaranteed and is contingent upon the deposit being received earlier than the effective date. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/eservices Title: eServices: Mobile, Online & Text Banking - Baton Rouge Telco Federal Credit Union Meta Description: With free online, mobile & text banking, you’re never more than a click away from your money. Enroll now or download our mobile app today. Language: en Canonical URL: https://www.brtelco.org/products/eservices ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: eServices H2: Mobile Banking H3: Download the App H2: Online Banking H2: Text Banking H3: Text 454545 Once Enrolled H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: eServices H2: Mobile Banking H3: Download the App H2: Online Banking H2: Text Banking H3: Text 454545 Once Enrolled H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Stay connected to your finances with our mobile banking app, bringing convenience and control to your fingertips for seamless on-the-go banking. Seamless financial management with our comprehensive online banking suite, saving you time to focus on what matters most. Stay informed and in control with our text banking service, providing instant access to your account information and transactions through simple, secure text messages.1 Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. 1Message and data rates may apply from your wireless carrier. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/financial-education Title: Financial Education & Courses - Baton Rouge Telco Federal Credit Union Meta Description: Take control of your own financial fitness with our free financial education platform. Learn about money management, debt, and credit now. Language: en Canonical URL: https://www.brtelco.org/products/financial-education ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Financial Education H2: Free Online Courses H2: Free Financial Counseling H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Financial Education H2: Free Online Courses H2: Free Financial Counseling H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Our Thrive program is your path to financial success. Access free tools and personalized guidance to improve your financial health. Take our survey for a tailored playlist to kickstart your journey. Say yes to your dreams today! Receive expert guidance to overcome challenges and achieve your goals through our FREE financial counseling resources, which include our partnership with GreenPath Financial Wellness and our AI-powered virtual financial coach. Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. How to qualify for our $50 Gift Card drawing. Members of Baton Rouge Telco FCU that complete at least one module in Thrive Financial Education Program will automatically be entered in a drawing for a chance to win $50 cash or gift card equivalent at the end of each month that a module is completed. The winner need not to be present. The winner will be selected from all eligible registrants. Winner will be notified by phone or email within 10 days. The sweepstakes is open to members of Baton Rouge Telco who are at least eighteen (18) years of age or older as of the date of entry. Employees of Baton Rouge Telco Federal Credit Union, volunteers and their immediate family members are not eligible. Members of Baton Rouge Telco FCU may enter by completing at least one playlist OR (on a postcard only) print (by hand, no mechanical reproductions accepted) your name, email and address. Mail your completed entry to Baton Rouge Telco FCU, c/o Marketing Department – Thrive Financial Education Program Sweepstakes, 32839 LA Hwy. 16, Denham Springs, LA 70706. Entries that are incomplete, non-deliverable for any reason, corrupted, or unintelligible for any reason are void and will not be accepted. Baton Rouge Telco FCU can cancel or suspend the drawing at any time. The sponsor of this Sweepstakes Promotion is Baton Rouge Telco FCU, 13404 Airline Hwy., Baton Rouge, LA 70817. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/free-financial-counseling Title: Free Financial Counseling - Baton Rouge Telco Federal Credit Union Meta Description: Talk 1-on-1 with a local expert or our virtual AI coach. Use our free financial counseling to achieve your goals and prepare for a better future. Language: en Canonical URL: https://www.brtelco.org/products/free-financial-counseling ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Free Financial Counseling H2: GreenPath H2: Virtual Financial Coach H2: Rates H2: Frequently Asked Questions H2: Interested in Free Financial Counseling? H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Free Financial Counseling H2: GreenPath H2: Virtual Financial Coach H2: Rates H2: Frequently Asked Questions H2: Interested in Free Financial Counseling? H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Secure your financial future with our support, available through Telco's partnership with GreenPath Financial Wellness. Free, personalized guidance to overcome challenges and achieve your goals. Get expert financial guidance anytime, anywhere with our FREE virtual financial coach, powered by AI chat. Take control of your finances today! Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/home-equity-line-of-credit Title: Home Equity Line Of Credit (HELOC) - Baton Rouge Telco Federal Credit Union - Baton Rouge Telco Federal Credit Union Meta Description: Use the equity in your home for almost anything–debt consolidation, construction projects & more. Click to leverage your home's equity today. Language: en Canonical URL: https://www.brtelco.org/products/home-equity-line-of-credit ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Home Equity Line Of Credit (HELOC) H1: Borrow What You Need, When You Need It H2: ‍HELOC H2: Rates H1: Apply for a HELOC in 3 Easy Steps! H3: Apply Online H3: Application Review H3: Access Your Funds H2: Frequently Asked Questions H2: Interested in a Home Equity Line of Credit? H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Home Equity Line Of Credit (HELOC) H1: Borrow What You Need, When You Need It H2: ‍HELOC H2: Rates H1: Apply for a HELOC in 3 Easy Steps! H3: Apply Online H3: Application Review H3: Access Your Funds H4: Brandy G., Baton Rouge, LA H2: Frequently Asked Questions H2: Interested in a Home Equity Line of Credit? H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Leverage your home for life's opportunities with an affordable and flexible HELOC! Our low rates, no closing costs, and no monthly fees help you save, and the funds you borrow can be used for any purpose — it’s your call. Apply for a HELOC today to borrow as you go for a home improvement, debt consolidation, unexpected expense, and other needs!‍ Our low credit union rates help you save on the cost of borrowing. More money stays in your pocket to help you achieve your goals. The funds you borrow can be used for any purpose. There are no monthly or annual fees to help you save even more! Turn possibilities into realities by harnessing the financial strength of your home. Use your home's equity for just about anything — including renovations, debt consolidation, unexpected expenses, or funding major life goals. The choice is yours! Click the button below to apply for a HELOC, or drop by a branch. We’ll review your application and give you a quick loan decision. Finalize the loan and sign the closing documents to access your funds. “This was the most pleasant experience I’ve had with a bank! If you’re looking for a great banking experience, Telco is definitely the place to go! So happy I was referred to them!”‍ Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Take advantage of a flexible financing solution for many different needs. No collateral is required, and you can borrow up to $30,000 with terms of up to 60 months, depending on your creditworthiness. Get the quick cash you need in an emergency and avoid the high rates of payday loans. No minimum credit score is required, and the rate is competitive to help you save. Get a flexible and affordable line of credit for your everyday needs. Our credit cards have low rates, you can set up real-time card controls and alerts, and there are zero transfer or annual fees. *APR = Annual Percentage Rate. All rates, fees, and terms are subject to change, not guaranteed, and are based on credit qualifications and lending guidelines. $199 Processing Fee required. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/member-perks Title: Member Perks: Cu Travel, Credit Score, Card Controls - Baton Rouge Telco Federal Credit Union Meta Description: Built to give you more control, insight, and savings wherever you go. Enjoy free access to Card Controls, Credit Score tools, and CU Travel discounts. Language: en Canonical URL: https://www.brtelco.org/products/member-perks ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Member Perks H2: CU Travel H3: Activate Your Free Membership H2: Credit Score H3: Getting started is easy. Log in to Mobile or Online Banking and then click Credit Score. H2: Card Controls H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Member Perks H2: CU Travel H3: Activate Your Free Membership H2: Credit Score H3: Getting started is easy. Log in to Mobile or Online Banking and then click Credit Score. H2: Card Controls H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Credit Union Travel gives you free access to savings on 1.2 million brand-name hotels worldwide, plus book flights and car rentals - all from one place with 24/7 booking support. Conveniently access your free report inside Mobile and Online Banking without impacting your credit score. Get a real-time score, full credit report, credit monitoring, and financial education to improve your financial future. Gain the flexibility and security of managing your cards and setting your card usage preferences, all from the palm of your hand. Enjoy added security and greater control over your finances. Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. 1Message and data rates may apply from your wireless carrier. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/money-market Title: Money Market Accounts - Baton Rouge Telco Federal Credit Union - Baton Rouge Telco Federal Credit Union Meta Description: Grow your money on autopilot with a Money Market Account at Baton Rouge Telco Federal Credit Union. Plus, you can easily open your account online! Language: en Canonical URL: https://www.brtelco.org/products/money-market ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Money Market Accounts H2: Here’s Why You Should Open a Money Market Account H2: Money Market Account Details H2: Open Your Money Market Account in 3 Easy Steps! H2: 1 H2: 2 H2: 3 H3: ★★★★★ H2: Rates H2: Open an Account Today Or Call for More Info H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Money Market Accounts H2: Here’s Why You Should Open a Money Market Account H4: Monthly Dividends H4: No Fixed Terms H4: No Monthly Fees H4: Always Accessible H2: Money Market Account Details H2: Open Your Money Market Account in 3 Easy Steps! H5: Step H2: 1 H4: Gather Your Info H5: Step H2: 2 H4: Apply Online H5: Step H2: 3 H4: Ready, Set, Earn! H3: ★★★★★ H2: Rates H2: Open an Account Today Or Call for More Info H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Elevate your savings with our high-yield money market account and get the best of both secure savings and investment opportunities. Our high-yield account pays generous interest regardless of deposits or withdrawals. Unlike certificates, your money market deposits are always available Bank for free when you meet the required minimum balance. Get your money when you need it with up to 6 withdrawals per month.1 Get serious about saving with a Baton Rouge Telco Federal Credit Union Money Market Account. Earn generous dividends with all the flexibility of a regular savings account: no investment terms, no withdrawal penalties. Here’s what sets our Money Market Account apart: Ready to make your money do more? Click below to get started! We’ll need your driver’s license, social security number, and proof of address. Click the button below or stop by a branch to start the application process. Meet the minimum deposit requirements and start earning monthly dividends! “I always have a great experience at Telco. The staff are by far the best when it comes to Customer Service. No matter what you need they are friendly, good listeners, and helpful. I recommend Telco for all of your banking needs.” Sandra W., Baton Rouge, LA Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Grow your savings with our certificates and enjoy dividends and a higher APY than regular savings accounts. Terms range from 3 months to 5 years. With our IRA certificates, you can plan for retirement by choosing longer terms for higher rates. Whether you need no-fee essential checking, checking that earns interest, business checking, or an account that helps you rebuild your banking history, we've got you covered. Get FREE financial guidance from local experts to help you achieve your goals. Take advantage of our FREE 24/7 virtual financial coach to help you manage your finances. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/mortgage-loans Title: Home Mortgage Loans - Baton Rouge Telco Federal Credit Union Meta Description: Buy your new home, refinance an existing mortgage or get a land loan. With no PMI and low origination costs, we make home-buying a breeze. Language: en Canonical URL: https://www.brtelco.org/products/mortgage-loans ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Mortgage Loans H2: Purchase or Refinance H2: First Time Home Buyer Program H2: Home Loans for Heroes Program H2: Land Loans H2: Adjustable-Rate Mortgage H2: Rates H2: Frequently Asked Questions H2: Have questions about Mortgage options? H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Mortgage Loans H2: Purchase or Refinance H2: First Time Home Buyer Program H2: Home Loans for Heroes Program H2: Land Loans H2: Adjustable-Rate Mortgage H2: Rates H2: Frequently Asked Questions H2: Have questions about Mortgage options? H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Open the door to your perfect home, whether you're purchasing for the first time or refinancing to transform your existing home into a place of endless possibilities. Let us make your journey joyful and stress-free! Ready to buy your first home? Our First-Time Homebuyer Program offers flexible financing and expert support to make the process smooth and stress-free. Let’s help you unlock the door to your future! Expressing gratitude for your service and contribution to our nation and local communities, our Home Loans for Heroes Program rewards community heroes and experts with special perks and offers. Whether you're planning to build your forever home, invest in a piece of land, or simply secure your own private oasis, our land loans provide the perfect solution to make it happen. Enjoy the benefits of a lower rate and monthly payment with our adjustable-rate mortgage. Ideal for members planning to move, pay off their mortgage soon, or expecting their income to grow over time. Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. 1Applies to loans of $400,000 or more 2Low down payment for “community heroes” (Professions including teachers, fire department, law enforcement, nurses, EMTs, and active or former military), up to 99% financing. No down payment is required for “community experts” (Members with select professional designations including CPAs, CFAs, PhDs, Architects, and Actuaries), up to 100% financing. In both cases, the borrower must meet employment eligibility requirements. *APR = Annual Percentage Rate. All rates, fees, and terms are subject to change, not guaranteed, and are based on credit qualifications and lending guidelines. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/opportunity-checking Title: Opportunity Checking Account - Baton Rouge Telco Federal Credit Union Meta Description: Get a second chance and regain control of your finances with an Opportunity Checking Account. Start rebuilding your banking history today! Language: en Canonical URL: https://www.brtelco.org/products/opportunity-checking ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Opportunity Checking Account H2: Opportunity Checking Account H2: Start Rebuilding Your Banking History H2: An Opportunity for a New Beginning H2: Open an Opportunity Checking Account Today H2: 1 H2: 2 H2: 3 H3: ★★★★★ H2: Rates H2: Ready to get started or have a question? We’re here to help. H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Opportunity Checking Account H2: Opportunity Checking Account H2: Start Rebuilding Your Banking History H4: Real-Time Controls and Alerts H4: Low Account Minimums H4: 2Day Early Pay with Direct Deposit H4: Low Monthly Fees H2: An Opportunity for a New Beginning H2: Open an Opportunity Checking Account Today H5: Step H2: 1 H4: Grab Your ID H5: Step H2: 2 H4: Apply at a Branch or Call Us H5: Step H2: 3 H4: Fund Your Account H3: ★★★★★ H2: Rates H2: Ready to get started or have a question? We’re here to help. H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Get a fresh start with a checking account that’s designed to help you regain control of your finances. Daily debit card spending limits and low balance alerts help to prevent overspending. Get started with a $50 minimum deposit to your savings and a $5 minimum deposit to your checking account. Access qualified direct deposit funds up to two days earlier than the scheduled payment date. Pay only $10 per month in fees as you work towards rebuilding your credit history with Opportunity Checking. If you have been denied a standard checking account, you don’t have to be without essential banking services forever. With an Opportunity Checking Account from Baton Rouge Telco, you can start over and rebuild your financial future. To open an account and get a fresh start, stop by a branch or click below to call us! Before you call or stop by to open your account, make sure you have a valid government-issued ID. Visit us at a branch or click below and call to open an Opportunity Checking Account. You will be notified of account approval. You can then fund your account and start using it. “Whenever I have a question about my account or need services, Telco provides vast customer service.” Joaquina S., Baton Rouge, LA Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Avoid transaction denials or bounced check fees. If you have insufficient funds in your account, we will transfer funds from your savings account to make sure you are covered for only $5 per transaction. Manage your finances anywhere, anytime. Access your accounts online or with our Mobile Banking App. Get quick balance and transaction information through text messages. Get FREE financial guidance from local experts to help you achieve your goals. Take advantage of our FREE 24/7 virtual financial coach to help you manage your finances. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/overdraft-protection Title: - Baton Rouge Telco Federal Credit Union Language: en Canonical URL: https://www.brtelco.org/products/overdraft-protection ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Overdraft Protection H1: Protect Your Account H2: Overdraft protection H3: Protect yourself from those over drafting your account. H2: Overdraft Privilege H3: Opt-in for peace of mind at checkout. H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Overdraft Protection H1: Protect Your Account H2: Overdraft protection H3: Protect yourself from those over drafting your account. H2: Overdraft Privilege H3: Opt-in for peace of mind at checkout. H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. If funds are unavailable in your checking account, we will transfer money from your savings (if available) to your checking account to cover the transaction. This service is available at a $5 charge per item. By opting into this service, we will authorize your checking account to accept charges, even if the funds are not available, up to $500. There is a $30 transaction fee for each charge submitted to your overdrawn account. Opt in now by logging into Online Banking and selecting “Opt-In” from the Secure Forms menu. Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/personal-loans Title: Personal Loans | Secured & Unsecured - Baton Rouge Telco Federal Credit Union Meta Description: A Personal Loan from Telco is a great way to consolidate high-interest balances, fund special purchases, or cover major expenses. Apply today. Language: en Canonical URL: https://www.brtelco.org/products/personal-loans ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Personal Loans H2: Personal Loan H2: Secured Personal Loan H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Personal Loans H2: Personal Loan H2: Secured Personal Loan H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Experience financial flexibility with our affordable loan solutions, providing simplicity and support for your diverse lifestyle and budget. All without the need for collateral. Embrace the peace of mind offered by our Secured Personal Loans, leveraging funds in your share account, share certificate, or money market account as collateral for flexible borrowing options. Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. *APR = Annual Percentage Rate. Rates shown are Telco's current rates and includes a 0.50% discount for members with automatic deduction from a Telco checking account and direct deposit relationship. Terms and conditions apply. Rates are subject to change and depend on various factors including creditworthiness. Your rate may differ. Quoted rate of 9.99% APR for 12 months has payments per $1,000 equal to $87.91/month. Quoted rate of 11.99% APR for 60 months has payments per $1,000 equal to $22.24/month. SECURED PERSONAL LOANS ~ Percentage above share certificate rate. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/solutions-loan Title: Solutions Loans | Secured & Unsecured - Baton Rouge Telco Federal Credit Union Meta Description: A Solutions Loan is a payday lending option for unexpected expenses or just to hold you over until your next paycheck. Secure financing today! Language: en Canonical URL: https://www.brtelco.org/products/solutions-loan ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Solutions Loan H2: Solutions Loans H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Solutions Loan H2: Solutions Loans H2: Rates H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Get relief from financial strains with our Solutions Loan1, a payday lending alternative that provides quick cash in case of emergencies. Avoid high rates and fees while bridging the gap to your next paycheck and building credit. Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. *APR = Annual Percentage Rate. Quoted rate of 28.00% APR for 6 months has payments per $200 equal to $36.11/month. Members must provide the following: Payroll deduction is not required, but it is strongly encouraged. Members may only have one (1) Solutions Loan open at a time. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/student-checking Title: Student Checking Account - Baton Rouge Telco Federal Credit Union Meta Description: Focus on your studies instead of fees with a flexible Student Checking Account. Click here to open an account today and start simplifying your finances! Language: en Canonical URL: https://www.brtelco.org/products/student-checking ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Student Checking Account H2: Hassle-Free Checking that Makes the Grade H2: Smart Checking for Busy Students H2: Open a Student Checking Account in Three Easy Steps H2: 1 H2: 2 H2: 3 H3: ★★★★★ H2: Rates H2: Ready to open an account or have questions?We're here to help. H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Student Checking Account H2: Hassle-Free Checking that Makes the Grade H4: No Monthly Fees H4: No Minimum Balance Requirements H4: Real-Time Card Controls and alerts H4: Optional Spending Limits H2: Smart Checking for Busy Students H2: Open a Student Checking Account in Three Easy Steps H5: Step H2: 1 H4: Gather Your Documents H5: Step H2: 2 H4: Visit a Branch or Apply Online H5: Step H2: 3 H4: Start Using Your Account H3: ★★★★★ H2: Rates H2: Ready to open an account or have questions?We're here to help. H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Soar to the head of the class with a flexible Student Checking Account that is designed to meet your needs. A checking account with no monthly fees helps you save money and simplifies account management. Enjoy flexibility and convenience without worrying about minimum balance requirements. Control your spending and receive alerts when your account balance is low. Activate spending limits to help you stay within your budget and avoid overdrafts. At Baton Rouge Telco, we understand that as a student you have to balance classes, studying, extracurricular activities, part-time work, and having a social life. Our Student Checking Account is designed to simplify your banking so you can focus on your education and personal growth. Open a Student Checking Account today to save money on fees and to manage your finances while you are on the go. Make sure you have a valid government-issued ID handy before you apply—like a driver’s license or passport. Conveniently apply online or in person. The short application only takes a few minutes to complete. Once approved, you can deposit funds into your account and begin using it for your daily banking needs. “The service is great, as well as the people that work here. They are friendly and always eager to help in any way that they can.” Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Avoid transaction denials or bounced check fees. If you have insufficient funds in your account, we will transfer funds from your savings account to make sure you are covered for only $5 per transaction. Manage your finances anywhere, anytime. Access your accounts online or with our Mobile Banking App. Get quick balance and transaction information through text messages. Get FREE financial guidance from local experts to help you achieve your goals. Take advantage of our FREE 24/7 virtual financial coach to help you manage your finances. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. --- ### Page: https://www.brtelco.org/products/traditional Title: Traditional Savings Accounts - Baton Rouge Telco Federal Credit Union - Baton Rouge Telco Federal Credit Union Meta Description: Grow your money with a competitive interest rate and dividends. Open a traditional savings account today to start saving for the future! Click for details! Language: en Canonical URL: https://www.brtelco.org/products/traditional ## Headings Structure: H2: You're about to leave our secure website. H2: Accounts H2: Resources H2: Loans H2: Resources H2: Services H2: About Us H2: Resources H2: Online Banking H1: Traditional Savings Accounts H2: Four Great Reasons to Open a Traditional Savings Account H2: Save Today for a Secure Tomorrow H2: Rates H2: Open a Traditional Savings Account in 3 Easy Steps! H2: 1 H2: 2 H2: 3 H3: ★★★★★ H2: Rates H2: Have a Question? We’re Just a Phone Call Away! H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. ## Main Content: H2: You're about to leave our secure website. H2: Online Banking H1: Traditional Savings Accounts H2: Four Great Reasons to Open a Traditional Savings Account H4: No Monthly Fees H4: Competitive Interest Rates H4: Online & Mobile Banking H4: Federally Insured H2: Save Today for a Secure Tomorrow H2: Rates H2: Open a Traditional Savings Account in 3 Easy Steps! H5: Step H2: 1 H4: Gather Your Info H5: Step H2: 2 H4: Apply Online H5: Step H2: 3 H4: Ready, Set, Earn! H3: ★★★★★ H2: Rates H2: Have a Question? We’re Just a Phone Call Away! H2: Frequently Asked Questions H2: More Baton Rouge Telco Products & Services H2: We're all about finding ways to say yes. You are about to navigate away from our secure website. We are not responsible for any content or information posted to third-party sites. Save for the future with a no-fee account that has a competitive interest rate and pays dividends. Easily track your savings progress online or with our mobile app. Open a traditional savings account today to take the first step towards achieving your financial goals in Baton Rouge. Keep more of your hard-earned money in your account every month. Grow your account balance with a competitive interest rate and dividends. Conveniently track your savings progress online or with your mobile device. Your account is backed by the NCUA for up to $250,000. Easily grow your savings for a down payment on a home, a new car, an emergency fund, or something else. Our traditional savings account simplifies saving to help you build a secure financial future. Key account features include: Open a traditional savings account today to build a financial cushion for unexpected expenses or for other savings goals in Baton Rouge, Louisiana. We’ll need your driver’s license, social security number, and proof of address. Click the button below or stop by a branch to begin the process. Fund your account to start watching your balance grow. “My entire family has been a long time member of Baton Rouge Telco. The Watson branch is our home bank and we cannot say enough positive things. Hollie is always such a pleasure to work with and makes sure that we are taken care of without question. We are so happy to be part of the telco family and we tell everyone we know about how amazing they are. 5 stars, always!” Kayla P., Baton Rouge, LA Before you begin the balance transfer process, let's get a BR Telco Visa credit card opened for you. We offer two great credit cards to fit your lifestyle. Our credit cards feature no annual fees, no balance transfer fees, and practically unbeatable rates. You can begin your online application here. Complete this short form and we’ll have one of our experts contact you to discuss options. Grow your savings with our certificates and enjoy dividends and a higher APY than regular savings accounts. Terms range from 3 months to 5 years. With our IRA certificates, you can plan for retirement by choosing longer terms for higher rates. Whether you need no-fee essential checking, checking that earns interest, business checking, or an account that helps you rebuild your banking history, we've got you covered. Get FREE financial guidance from local experts to help you achieve your goals. Take advantage of our FREE 24/7 virtual financial coach to help you manage your finances. *APY = Annual Percentage Yield. Dividend rates are subject to change without notice. Dividends are posted monthly based on the daily balance and compounded monthly. Rates are not guaranteed. Fees may reduce earnings on the account. Federally insured by NCUA. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government – National Credit Union Administration (NCUA), a U.S. Government Agency. ---