Benefits of Living Frugally

The word ‘frugal’ seems to have a negative connotation. People think that if you are frugal, you are somehow missing out on life. However, living frugal is not as extreme as it sounds. It may even amaze you how you can change your life. Here are some of the benefits of frugality: 1. Saves Money Adjusting your spending habits will allow you to save more money over time. After cutting your expenses, it may amaze you how much money you can save (even in a short amount of time). This... Read More

Staycation Ideas

Have a Spa Day Two words: Spa day. Although a spa vacation may sound exciting, a great alternative to treat yourself can be making your own custom relaxing spa experience at home. To get some serious bang for your buck, grab a few face masks, some mani-pedi supplies, and have a DIY spa day. Have a Cooking Night If you’re one of those travelers who eats your way around new locales, transform your kitchen into a dining destination. Try out some new recipes and have fun creating an exotic dinner... Read More

8 Steps to manage your finances – Use your time wisely

60-Day Action Plan: 8 Steps on How You Can Manage Your Finances Wisely A lot of us find ourselves with a little more time on our hands. Taking advantage of this time can be adventitious for your personal financial life. Here are a few things you can do to work through the current crisis and set yourself up for better financial success in the future. 1. Get in the driver’s seat: You are in control of your financial future – nobody can or will do it for you. Although this... Read More

IRA Catch-up Contributions for 2020

Individuals who are age 50 or over at the end of the calendar year can make annual catch-up contributions. Annual catch-up contributions up to $6,500 in 2020 ($6,000 in 2015 – 2019) may be permitted by these plans: 401(k) (other than a SIMPLE 401(k)) 403(b) SARSEP governmental 457(b) Elective deferrals are not treated as catch-up contributions until they exceed the limit of $19,500 in 2020 ($19,000 in 2019) or the ADP test limit of section 401(k)(3) or the plan limit (if any). A participant can make catch-up contributions for a year up to the lesser of the following amounts: The... Read More

Credit Score & More!

Credit Union of Denver has another FREE benefit! Credit Score & More Your credit score is more than just a number – it’s a way for lenders to determine whether you are eligible for a loan, for apartment complexes and insurance agencies to give you rates or access based on your credit worthiness. Managing your credit is an important part of managing your financial well being. It will guide your financial picture on how much interest you pay, which affects your payments, which effects your budget, etc. It’s important Smart... Read More

Cyber Tech Security – 4 Simple Steps for Safety

Four Simple Steps to Staying Secure Making the most of technology safely and securely can seem overwhelming and confusing. However, regardless of what technology you are using or how you are using it, here are four simple steps that will help you stay secure. Unfortunately, technology itself cannot protect you from hackers. Many hackers are now attempting to target you rather than your computer or electronic device. They try to achieve this through deception and trickery. For example, they might call you pretending to be Microsoft tech support, claiming that... Read More

Protect Accounts By Being Informed

One of our main goals is to keep your account safe from fraud. One of the best ways we can do this is to inform our members about prevalent scams. We would like to bring awareness to scams we have noticed becoming more common and widespread. One specific scam we have witnessed is the Secret Shopper Scam. This scam typically begins as an email or a pop-up on your computer from a well-known retailer asking if you would like to make some additional money secret shopping their stores. This seems... Read More

Too Young to Think About Investing? Think Again…

“How did it get so late so soon?” — Dr. Seuss Dr. Seuss’s simple but powerful words continue to resonate today, even in the context of planning for a financially secure future. Because when you get right down to it, the younger you are, the more potential you have to gain, by taking advantage of the time ahead of you. For example: Let’s say you started investing $100 per month. Assume over time you earn an average of 6% interest per year. The chart below shows how much money you’d... Read More

Shared Branches

What are they and why it’s important to know… The main branch for Credit Union of Denver is located in Lakewood, Colorado, but we have members all over the United States. It is important to us that the members living thousands of miles away find the credit union to be just as convenient as those members living in Lakewood. In an effort to be as convenient as possible for our members, Credit Union of Denver chooses to participate in the Shared Branch Network (CO-OP Network). Belonging to this network provides... Read More

Going Shopping?

Ask yourself these questions before making a purchase. Have you ever gone into a store for one item and find yourself leaving with a cart full of items? It used to happen to me every time I visited a certain store. I would get home and eventually feel guilty about how much money I spent unnecessarily. To fix this impulse, I’ve started asking myself these four questions before swiping my card. How many hours of work will this cost me? When shopping, I used to only view the price in... Read More