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  • As student loan debt continues to climb, more and more of the nation's 44 or so million borrowers are looking for manageable ways to pay them back. The student loan refi has become an increasingly popular way to get a handle on this life expense that now looks more like a mortgage than a common monthly bill. What one or two generations ago was considered a nuisance payment has grown in both size…, Membership, Credit unions are member-owned nonprofits , which makes you more than just a number or dollar sign. Unlike banks, profits are reinvested in the membership in the form of lower interest rates on loans and higher dividends on savings. As a member-owner, you have a stake in how you're treated. You'll likely get the fairest shake from your credit union as opposed to a national web-based bank. With a…, Financial Guidance, In addition to its local, physical location, your credit union likely offers personal guidance for all things financial, from how to crush student loan debt to building a monthly budget. This is just one added benefit of membership. Not only can you get the loan you need, but sound financial advice as well., Total Debt Solutions, College debt is more than just student loans. It's not unusual to accumulate some credit card debt when you're on a limited income at school or as you start out in your career. That's where options like the Any Purpose Signature Loan from Visions come in. With the Any Purpose, you can roll your student loans and other debts into a single loan with one interest rate and manageable monthly payments., Community-Based, By virtue of their missions, credit unions are community-focused. In the same way they give back to members, they support the public by sponsoring community events, making donations to worthy organizations, or encouraging employees to volunteer their time. By banking with a credit union, you get personal service while also indirectly impacting the place where you live, work and/or play. Feels…
  • Looking to renovate the kitchen, consolidate expenses, or take an epic vacation? Been in your home for a while? If so, a home equity line of credit, or HELOC , unlocks the value of your investment in ways other financial products can't. Apply Now  , You Only Pay for What You Use, A HELOC works differently than a personal loan in that you only pay for what you use. Like any other credit, you draw from within the limit to get what you need done quickly – no waiting for applications or guesstimating the amount needed for your project or big purchase necessary. Simply put, it's there when you need it and you can get it fast. Think of it as a credit card with a rate and limit…, You Can Get a Lower Rate, Unlike a credit card, you can get much lower rates with a HELOC. How? Backed by the equity you already have in your home, your lender can feel more comfortable offering a lower – in many cases, single-digit – annual percentage rate, or APR. Sometimes you can even get a low- or no-interest introductory rate like Visions has right now . This can lead to some serious savings, especially if you plan…, The Terms are Yours, You'll be hard-pressed to find the flexibility that a HELOC offers. First, there are the aforementioned rates to take advantage of, especially with a special offer like you can find at Visions right now . The HELOC offers a credit line of up to 100 percent of your home's equity, so you can get a higher limit than a credit card offers. Best of all, the credit is yours to use as little or as much…, Cash Clip Tips for Understanding the Power of a HELOC, Check out our episode of Cash Clips YouTube Series that deal with HELOCs!
  • The Smart Options for Your Home Improvement Loan or Financing, At Visions we say that life is unscripted. If you own a home, it's very likely you know how true that statement is. It almost goes without saying that if you own a home, you have home improvements and repairs. Many joke that the list never ends. Whether you need to remodel a room, replace a roof, or tackle some small projects, it all has a cost. Sometimes that means looking at financing your home…, So, what is the best approach for you when it comes to your home improvement financing?, Like with many things relating to money, the right answer for financing your home improvements and projects depends on your circumstances. How you pay for your home improvements may differ depending on the project. Let's face it. Some projects are more simple and less expensive than others. You may want to approach smaller projects differently than bigger ones., Smaller Home Improvement Projects, For smaller projects, you may want to look into paying for your home improvements with a quality low interest credit card. It's a more straight-forward way to take care of smaller projects. In some cases, you may be able to take advantage of a very attractive interest rate, get your home improvements done, and have everything paid for in a relatively short amount of time. In the situation of…, Larger Home Improvement Projects, For larger projects, you should consider a home improvement loan. Maybe you have one or more major projects you just have to do. Maybe you'd rather remodel than move. Maybe you are just looking to build up value in your home with some great improvements. In these cases, consider a home improvement loan. These loans are designed for these circumstances and often have very attractive rates., Consider Your Credit, As with anytime you are looking into financing, consider your credit. It's always a factor when looking to financing a purchase or project. Your credit will play a factor in what interest rate you will pay on your home improvement financing. Know where your credit stands, so you know options. When it comes to finances, you always want to make an informed decision based on your unique needs and…
  • Home Equity Loans for Home Improvement, Using home equity for home improvements and renovations is a popular choice. First, the home equity loan can be used for costly repairs such as roofing, foundations, or other vitally important parts of your home. That makes home equity loans an option for keeping your home safe, secure, and functional. Second, home equity loans can be used for home improvements that increase the value of your…, Using Your Home's Equity to Invest, Sometimes people will use the equity built up in their home for investing. By doing this, people are looking to take advantage of their home equity to capture investment opportunities that can yield financial benefits. The idea is to use a stable, low-interest home equity loan to invest at a higher yield. Like any investing, one should do thorough homework and research. All investing carries some…, Help with Education Costs, There are many stages of life. An education prepares young men and women to thrive in the real world. After all, a young adult with the proper education is much more likely to do well for themselves and become independent sooner. To help cover the costs of education, people use a home equity loan. For some, interest rates and loan amounts are attractive enough to use home equity loans for…, The Unexpected/Emergency Fund, As the old saying goes, "Life is what happens while you are busy making other plans." Sometimes unforeseen circumstances and challenges pop up in life. When they do, it's nice to have a source of cash to tap into to help. This is why some people use home equity loans or lines of credit for emergency funds. The key to making this work is using the loan or line of credit for real emergencies and…, Large Purchases Using Home's Equity, People have also used home equity loans or lines of credit for large purchases. While some might want to limit use of home equity loans to emergencies or major life events, others may want to take advantage of the longer terms and lower interest rates offered by home equity loans to make larger purchases more affordable., Pay Off Other Debt, For those who are trying to handle debt, using a home equity loan might be an option. Some people are looking at late fees, high-interest debt, medical bills, or other issues. When this is the case, a home equity loan might be an option that provides lower interest rates to wipe out other debt and avoid late payments. While this may seem attractive to those looking to solve debt issues, this is…
  • Home ownership has benefits. , One of those benefits is the ability to use the equity you've built for other financial needs such as home improvements. A home equity loan can also be used for various financial needs such as repairs, debt consolidation, vacations, or college expenses. There is a specific difference between a home equity loan and a home equity line of credit, or HELOC . A HELOC is a line of revolving credit with…
  • Save money to earn money!, One great reason to save money at Visions: dividends!* Your deposits in savings accounts earn a percentage back over time, and we offer excellent, competitive rates for our members.  You'll notice our savings rates, including Share Certificates and Flex Money Market accounts, are always advertised with, APY, , or, Annual Percentage Yield, . You may also notice that in some instances, like our rates pages , we include the interest rate or dividend rate, too. Below is some information to help you better understand your savings accounts and related earnings at Visions., APY vs. Dividend Rates, Credit unions are required by regulation to state the rates of return on all savings accounts in terms of APY, or Annual Percentage Yield. This requirement ensures that you’re getting comparable figures from all credit unions – advertised fairly, consistently, and without deception. It’s one of the many ways we aim to be transparent and accountable to our members., APY – expected earnings, This number is an annual rate that forecasts annual earnings for a savings account. Given as a percentage based on the account balance, APY is a projection that represents the expected amount of earnings after dividends accrue and compound for a full year., Dividend Rate –,  , active interest,   The dividend rate is an annual rate of return used to calculate daily and monthly earnings for a savings account. Given as a percentage based on the account balance, this rate is active on the savings account, accruing interest daily based on the average daily balance, and compounding monthly. By knowing your accounts' dividend rates, you'll have a more accurate expectation for your monthly…, The big difference between the APY and dividend rate is the compound interest.,   Here's an example* that demonstrates the relationship between the two rates. Given an initial balance of $50,000, let’s track one year of dividends at 2.25% APY, which earns a dividend rate of 2.23%.  Duration Balance New Dividends Total Earnings 0 months $50,000 $0 $0 1 month $50,092.92 $92.92 $92.92 2 months $50,186.01 $93.09 $186.01 3 months $50,279.27 $93.26 $279.27 4 months $50,372.71 $93.…, This total is the , approx. balance , after one year of , dividend deposits., $94.83 , This column , contains monthly , deposits at 2.23% , Dividend Rate., $1,126.47, This final total , represents the , return at 2.25% APY., The chart illustrates how dividends are credited monthly – and how they compound over the course of a full year. Although the dividend rate in the example (2.23%) appears lower than the APY (2.25%), the account accrues enough compounded dividends after 12 months to produce the projected APY ($1,126.47 is approximately 2.25% of $50,000). , For our current savings rates, please visit., visionsfcu.org/rates, ., Explore your savings potential using our , savings calculators, Learn about your, share insurance, for deposits at Visions., *Please note, these numbers are examples only, used for illustrative purposes. It’s also helpful to note that savings accounts at Visions accrue dividends based on the number of days in the month. E.g.: January accrues for 31 days, February accrues for 28 days, etc. As a result, an account’s dividend deposits may be higher for January than February, even if that same account has a slightly higher…
  • 7 Useful Ways to Make Your Credit Card Work for You, Credit cards . Like money itself, they are a great servant and a bad master. We all know at least one person who uses them unwisely. Nobody wants that. Instead, you want to know how to make a credit card work for you the best you can., Check out the list below to learn about some helpful ways to use your credit card., Payment Form, This may seem like an obvious or simple way to use a credit card. However, it's worth noting. When used as a form of payment, a credit card does a few things for you. First, you have a simple way to make purchases using your credit card. Plus, with fraud protection on credit cards, you can do so safely. When you look at your credit card as a form of payment, not a form of financing, you can…, Earn Rewards, When used as a form of payment, a person can stack up rewards over time. The rewards will depend on what kind of card you have. Premium credit cards generally offer more rewards than traditional credit cards. Also, there are different kinds of rewards depending on the card. For instance, some premium credit cards cater to travelers because of their unique needs., Added Safety and Security, When you want added safety and security with your purchases, you may consider using your credit card. With various kinds of fraud and identity theft, having some protection on your purchases can be the difference between a wonderful shopping experience and a terrible headache. Credit cards offer fraud security and added protection against these kinds of threats., Online Purchases, Staying on the topic of safety and security, it's important to highlight online purchases. People are shopping online more than ever. It can be a good way to buy goods and services. However, when you shop online, especially using a public wifi, you may be on an unsecured connection. This leaves your information at risk of theft. The added security and safety credit cards provide can help protect…, Hotel Rooms, You may know the drill when you go to a hotel. The clerk asks you a set of questions upon checking in and asks for a credit or debit card. Many believe they are asked for their card to verify who they are to the hotel. While that may be true, that's not the only reason the hotel asks for your card. In fact, the card is a kind of security deposit for the hotel. They want this information to help…, Car Rentals, This is on the list simply to let people who seldom or never rent cars know how it works. At many car rental companies, they simply won't take a debit card. They have an interest in knowing something about the reliability of the renter. So if the company does take debit cards, they may do a credit check. With a credit card, you avoid the hassles and your credit won't dip temporarily because it's…