Ruth Ladd’s church in Lexington, Massachusetts, has a special relationship with Russell School in Dorchester, a Boston public elementary school. When the school’s library was in dire need of reading material, parishioners donated or purchased books for the children. Volunteers work with the kids in the classroom and help out during Field Days. Unfortunately many students experience homelessness, so when a child’s family finds housing, it’s not only a positive turning point in their lives, but a celebratory event at the school and for people like Ruth.
Maybe you’re tired of writing rent checks each month, knowing that your hard-earned salary funds your landlord’s real estate investment. Or that living below a bunch of hard-partying college kids has worn thin, along with your apartment walls, which are more like Egyptian papyrus — and as old, too!
A Totten trust is the same thing as a payable-on-death account, a type of informal revocable trust in the form of a deposit account at a financial institution. When you pass away, a Totten trust allows a person you name as beneficiary to claim the money without a probate court proceeding.
The Boston Marathon, in its 122-year history, has never been cancelled because of weather. Nothing has stopped its runners: snow, sleet, heat, humidity…the race always goes on.
And 2018 was no different with its driving rain, gusty winds, and lower-than-normal April temperatures.
Most Americans start thinking about tax preparation shortly before April 15, the traditional date tax returns are due to the IRS.
I was one of those Americans. I was always making a vow that next year’s tax season would go easier because this year was the year I’d get my tax act together. But then, you know…life. The next thing, it was the following April and there I was again, tearing around the house like a whirling dervish, frantically looking for a wayward 1099. It struck me a few years ago: the best time to prepare for next year’s season? The days after tax returns are due, when my head is in the game and I’ve got taxes on my mind.
Like many newlyweds, Tarah and Ryan of Littleton, MA, dreamed about becoming homeowners someday. Their first step? Getting a handle on their credit scores. A preliminary check in 2014 surprised Tarah; her score was lower than her husband’s.
Topics: Credit Score
Last week in a lending training session here at Hanscom FCU, we reviewed the five elements that make up a FICO score, a number between 350 and 850 that indicates to a lender how creditworthy a consumer is and how likely they are to pay off their debts. The higher the number, the more attractive the consumer is from a lending standpoint. I also learned that each element comprising the FICO score is weighted:
Ray Phillips thought running the Boston Marathon in 2000 would be a one-time thing. He was over 50 and thrilled to get a coveted bib number as a charity runner for Team Hanscom FCU, which supports Credit Unions Kids at Heart. Yet while he looked forward to the challenge, he didn’t have a compelling reason to put himself through more training seasons and possible injury in the future.
When Andy Martin, Jr. ran the Boston Marathon for Team Hanscom FCU in 2017, he ran it in honor of his grandfather, who had recently passed away and was one of Andy’s biggest supporters.
Andy, who was born with spina bifada, was only 4 years old in 2000 when he became the Patient Partner of Ray Phillips, a Hanscom FCU board member and first-time marathoner. Fourteen years later, fueled by a goal he’d had since that first race, Andy completed the 2014 Boston Marathon as wheelchair entrant.
Topics: Boston Marathon
You’ve read the headlines: This past week, the U.S. prime lending rate was raised from 4.5% to 4.75%. This rate is used by many banks as an index to set their own interest rates for consumer loan products like home equity lines of credit, auto loans, and credit cards. When the prime rate goes up, so do the interest rates on their products.
As a Hanscom Federal Credit Union credit card holder, what does this increase mean for you?
Topics: Credit Card