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Refinancing Your Loans

Essentially, refinancing replaces an old loan with a new one with terms that are better for your situation. But there can be trade-offs associated with refinancing. While mortgage loans may be most commonly refinanced, you can also refinance auto, personal, and student loans. You can even “refinance” credit card debt by transferring the amount left to pay to another credit provider with …

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The Cost of a Mortgage

For example, if you borrow $200,000 for 30 years at 6% interest, your total repayment will be around $431,680, more than two times the original loan. What seems like minor differences in the interest rate can add up to a lot of money over 30 years. At 7%, the total repaid would be $479,160, about $47,480 more than at the …

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Member Updates: COVID-19

Starting next Tuesday, May 26th, all of our branches will be open without having to make an appointment.  Please review the guidelines below before visiting a branch: Please help keep your fellow members and our staff safe and healthy at this time by first attempting to conduct your business online whenever possible. COVID-19 FAQ  We have added a Frequently Asked Questions …

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Reasons For Refinancing

You could refinance to shorten the term of your loan. Mortgages especially benefit from shorter terms. For example, the difference in total interest for a 15-year mortgage vs a 30-year mortgage is significant. This is because 30-year mortgages usually have higher interest rates and require you to make payments for twice as long, allowing more interest to rack up. Refinancing …

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Learning About Government Assistance

If paying for food is your main concern, there are a couple of programs to help you out. The Supplemental Nutrition Assistance Program, or SNAP, (once more commonly known as food stamps) is meant to offer individuals and families access to funds to help pay for groceries each month. SNAP eligibility depends on your household and its income. With SNAP, …

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What To Do With Your Stimulus Check

If you qualify for a stimulus check, you may be wondering what to do with the money—or what the wisest thing to do might be. Here are a few things to consider. !function(e,t){var s=”script”,a=e.getElementsByTagName(s)[0],n=e.createElement(s);n.async=!0,n.src=”https://teachbanzai.com/coach/styles.js?subdomain=lafinancial”,a.parentNode.insertBefore(n,a)}(document); Click here to read how this calculator works, and for disclaimers. Many Americans have found themselves struggling financially due to the Covid-19 pandemic. Those who have had …

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FAQ: Online and Mobile Banking

This FAQ is being continuously updated so please check back frequently for the latest information. Still need to ask a question? As we we have a higher volume of calls coming into the Contact Center – get answers by sending us a Secure Message through Online or Mobile Banking to safely discuss your account and financial needs. You may also …