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Tuesday, September 27, 2022

Should Your Next Car be Electric?

White electric car with charger pulled in.With gas prices soaring, thousands of drivers are beginning to consider the purchase of an electric car. While an electric vehicle (EV) might be the right choice for many when looking to combat rising gas prices and help preserve natural resources, there are lots of variables to consider before taking the plunge.

Here’s what to know about electric cars before you drive off the lot.


The most obvious and prominent advantage of owning an electric vehicle is saving on fuel costs. Driving a car that runs on electricity instead of gasoline means saving money on a large expense category of your budget, month after month. Of course, the higher the cost of gas, the more you save. Right now, with most drivers experiencing pain at the pump, going electric is more popular than ever. Another budgeting bonus to consider is the fact that electricity costs tend to be far more stable than gasoline prices.


Tuesday, September 20, 2022

Finding the Best Way to Pay: Cash, Credit, or Debit

Credit and Debit Cards stacked on top of Cash.With inflation soaring and financial security a constant topic of conversation, it’s fair to say that wanting to spend money in the most effective way possible is at the front of many of our minds. But what does that mean? Is it better to pay for everyday purchases with cash, credit, or debit?

Although lifestyle and personality may influence your choices, there’s a time and place for all modes of payment. We’ve compiled a list of helpful tips that can help you navigate the variety of payment methods and when to use each of them to best utilize benefits.

When is Cash King?

With the boom of mobile payments, cryptocurrency, and the ever-rising number of person-to-person payment platforms, it may seem logical to think that our society is moving toward becoming cashless.

However, cash is still king when it comes to a few different situations.


Friday, September 16, 2022

School Spotlight: Embracing Summer Youth Education

Julie B greets a friend at a Sizzling Summer concert in Novi with plenty of fun things to share!
Julie B greets a friend at a Sizzling Summer concert in Novi with plenty of fun things to share!

You may already know that our Student-Run Credit Union team works tirelessly during the school year to provide exciting and educational opportunities. But did you know that they provide assistance and services during the summer as well? This summer, our Education Partnership Coordinators (EPCs) were hard at work helping the community with fun activities, educational presentations, and more!

If you’ve been to a Youth or Kid’s Concert this summer, you’ve probably seen our EPCs in their orange Summer of Sharing T-Shirts, passing out giveaways and spreading the Community Financial spirit to the community. Plymouth’s Music in the Park, Northville Tunes on Tuesday, Canton Tuesdays are Terrific, and Novi Sizzling Summer are just a handful of the great concert partnerships we were fortunate enough to cultivate this year.

Our EPCs also had the opportunity to participate in Money Mondays, a summer day camp program through the Plymouth-Canton Community Schools. During Money Mondays, our team members visited Bentley Elementary four times throughout the summer with educational presentations designed to help campers learn financial skills to last a lifetime.


Tuesday, September 13, 2022

Finding a Home During the Back-to-School Season

Father playing with daughter with moving boxes surrounding them.Finding and closing on a home is a stressful process. From bidding wars to a lack of suitable properties, many hurdles can await hopeful homeowners. But when it comes to finding a new home during the back-to-school season, especially when you have kids 18 or younger in the family, it can add on additional stresses. In fact, according to the National Association of Realtors, 55% of buyers with children 18 or younger in the home believe the most difficult step is finding the right property because of the need for a neighborhood with convenient and quality schools nearby.

If you’re in the market for a new home this fall, keep in mind the following tips and tricks to find your dream home without breaking the bank.

Research Childcare Before Bidding

For many buyers with young children, childcare expenses and finding the right daycare can not only delay the home-buying process, but also cause undue stress after moving in.


Tuesday, September 6, 2022

Protect Your Information at Our Upcoming Shred Day!

Blue background with shredded documents.Identity thieves and scammers can use credit cards, financial statements, or utility bills, or other important paperwork to obtain and exploit your personal information. Your first line of defense to keep this theft from happening in the first place is to destroy documents containing your personal information before anyone can access them. Private documents and credit/debit cards, which contain sensitive information, should be destroyed as soon as you no longer need them.

Join Us for Community Financial’s Annual Shred Day!

If you are looking for a way to securely shred and destroy your old documents, bring them to our Shred Day event this September on Saturday the 10th! We will have trucks on site to securely shred documents at 4 of our branch locations this year:


Tuesday, August 30, 2022

5 Steps for Choosing a Mortgage Lender

Couple signing for new home. Keys and a mini house on the table in front of them.You’re ready to take the plunge and buy a new home. Dreaming of extra bedrooms and a patio out back, you start your search—only to remember you need financing, and you’re not sure where to start.

While every lender and broker you find online may sound amazing, bragging of incredibly low rates and instantly-approved mortgages, it’s important to do your homework and make sure you’re not buying into something that’s too good to be true. Take your time, do the research, and let yourself be as choosey with your lender as you are about selecting the perfect property.

Finding a mortgage lender or broker you can trust to give you the best deal possible can be challenging—but it doesn’t have to be. Follow these 5 steps to help ensure you snag the best rate and lender possible.

Step #1: Get your finances in order

Before shopping for a lender, it’s important to organize your finances and do all you can to improve your credit. This is because a pre-approval and mortgage require a variety of financial paperwork, including:

  • Proof of Income – Set aside your most recent W-2s, tax returns, and account statements.
  • Credit Check – The best credit possible can snag you a mortgage rate that saves you thousands of dollars over the life of your loan. Pay your loans and credit cards on time, pay down any outstanding balances, and avoid taking out new loans in the period leading up to your mortgage application.


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