At Polam FCU, not only do we strive to provide you with the best financial services possible, we also want to share some guidance and expertise. Peruse our blog for the latest industry news and information relevant to you.
Chip-enabled debit and credit cards are becoming the standard for businesses and consumers. You may have noticed over the recent months that your credit unions or banks have begun to issue new debit or credit cards with a small metallic chip known as an EMV chip. The goal of this technology is to aid in the efforts of decreasing consumer fraud by adding an additional layer of security. According to a report published by Javelin, about 31.8 million U.S. consumers had their credit card information stolen in 2014. This is a growing problem that EMV chip technology seeks to▸ continue reading
The Myth of the Fixed Rate 30-Year Mortgage: Let me get to the point without forcing you to read a long introduction; “Most People Keep Their Homes for Six Years”. So why is it that most people look for a fixed rate 30-year mortgage? While many of us would like to believe that the home we just purchased will be our home forever, in most cases that is not the reality. According to a recent Federal Reserve Bank study, the average age of the first time buyer is 33 years old. So on average, most people will purchase 4 homes▸ continue reading