How to Choose Between Short- and Long-Term Mortgage Loans

August 28, 2020

When you seek a mortgage loan in Hampden County, you will be offered a choice in the length of the loan you want. Your mortgage could take the form of the standard long-term loan duration of 30 years, or a more short-term arrangement with a duration closer to 15 or 20 years.

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Banking at Your Fingertips: Snap, Tap and Deposit Checks With Your Phone

August 14, 2020

LUSO Federal Credit Union proudly offers the technology you need to keep track of your finances and manage your account(s) online. Our members can deposit checks—any time, from anywhere—using the Remote Deposit Capture feature of our mobile app. It’s as easy as Snap, Tap, Deposit!

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Tips for Using a Student Credit Card

July 28, 2020

When it comes to using a credit card, it’s important for students to know how to manage them properly so as not to end up with a bad credit score or—worse—debt. For students who are returning to school this fall, here are a few tips you should know to about building (and managing!) credit.

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Stay Connected with LUSO Live Chat

July 14, 2020

Banking has changed in recent months, but while the COVID-19 pandemic has shifted the way we conduct our day-to-day lives, it hasn’t changed our need to connect with others. You may be doing more of your banking online instead of coming into our branch, but our staff is still available to help you via the convenient Live Chat function on our website.

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Buy Your Next Car with Credit Union Financing

July 1, 2020

Whether you’re purchasing your first car or upgrading your current model, it’s important to understand the commitment you’re making and plan for the long-term expense. Before signing any papers and driving your new car off the lot, make sure you do your homework and have your budget set or your payment plan in place.

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3 Tips for a Fun Summer ‘Staycation’

June 18, 2020

You might be planning to stay closer to home this year due to travel restrictions, or perhaps you were already planning a staycation in order to save money. Regardless of your reasons, it’s still possible to have an exciting and memorable break.

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The Credit Union Difference… And Why It Matters To You

June 4, 2020

When you become a member at LUSO Federal Credit Union, your banking relationship with us is about much more than debit cards, checking and savings accounts, loans. As a credit union, LUSO is a not-for-profit institution that exists to put our members and community first. But what really sets us apart is our wealth of financial education resources, which we share to help you spend smarter and save more.

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Budget Tips for New Parents

May 26, 2020

Are you a soon-to-be parent? If so, you may be wondering how your new role will impact your budget. Fret not. Here are a few steps you can take now to help you save some money and better prepare your budget (and your future) for your child’s arrival.

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5 Tips for Purchasing a Home

May 15, 2020

While this COVID-19 pandemic has posed a challenge for the real estate market, especially during the time of year that is traditionally considered the homebuying “season,” it’s still possible to buy a new home. If you’re considering entering the housing market, here are a few things you should know.

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3 Ways to Improve your Finances While Stuck in Quarantine

May 8, 2020

The COVID-19 pandemic has dramatically changed the way we live and do business, but it’s also provided us with a silver lining: an opportunity to get back to the basics. Being in quarantine means we can tackle projects we might not otherwise have found the time to accomplish. If you're planning to use this time to improve your finances, here are three tips we think could help. 

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Why You Should Choose a Credit Union for Your Residential Mortgage Loan

February 18, 2020

Although, like banks, credit unions will accept deposits, give loans, and offer other financial services like mortgages, there is a significant difference in how the profits of these services are used. Credit unions are member-owned and cooperative institutions, so any profit they make gets returned to members in the form of reduced fees, higher savings rates, and lower loan rates.

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Shop Smart This Black Friday/Cyber Monday

November 20, 2019

The turkey isn’t on the table yet, but retailers are already preparing for one of the busiest shopping weekends of the year, heavily advertising their Black Friday, Small Business Saturday, and Cyber Monday doorbuster sales and in-store/online discounts. Whether you plan to shop in the big box stores, at a local small business, or online, there are ways to beat the madness and save! Here are a few tips LUSO put together to help you shop smart this holiday season.

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Top Tips for Saving for the Holidays

October 22, 2019

Whether you're waiting for a Black Friday door-buster sale or plan to get your gift-buying done tomorrow, here are some money-saving tips to help you stay on track this season.

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Pink Together…We Can Reach Our Goal

September 20, 2019

For the last six years, LUSO Federal Credit Union has been a staunch supporter of those fighting breast cancer and has held fundraisers to raise money for The Rays of Hope and The Pink W.A.Y., local organizations geared toward helping those who are diagnosed with breast cancer.

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LUSO celebrates National Mortgage Professional Month

September 4, 2019

When it’s time to purchase a home, many people seek out real estate agents who can help them to find the home of their dreams. However, it’s the mortgage professional – the LUSO Federal Credit Union loan officers, processors, underwriters, or originators – who make that dream come to fruition.

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Automatic Loan Payments: Easy, Convenient and Free!

August 14, 2019

When you sign up for LUSO’s Automatic Loan Payment (ALP) program, you can schedule your monthly loan payment to be automatically withdrawn each month from your checking or savings account.

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Mortgage Approval Process: Prequalification vs. Preapproved

June 20, 2019

Getting a mortgage loan is harder than it used to be, and homebuyers are looking for the best way to get a mortgage preapproval. Unfortunately, just because you are prequalified, it doesn’t mean you will actually get a mortgage. You will need to be preapproved to get the green light from a lender. Although the terms sound much the same, they mean very different things, so what is the difference between prequalification and preapproval?

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Celebrate Love… Without Breaking the Bank

June 7, 2019

Have you been invited to a wedding this season? Chances are you’ve already received a “Save the Date” card or perhaps you’ve already  RSVP’d yes to that invitation that came in the mail. Being a part of your friend’s special day is exciting, but for some, it’s an obligation that comes with a steep price tag.

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Automate Your Savings: Use Direct Deposit to Easily Grow Your Funds

May 14, 2019

Have you ever heard the phrase, “Pay yourself first”? Put simply, it means to set aside a portion of your paycheck each week, before you pay your bills and purchase necessities like groceries or gas for your car. The purpose? To create a savings strategy that could help you weather the storm if a financial emergency arises.

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Using Home Equity Loans to Pay Off Your Debt

April 24, 2019

The idea of going into debt to pay off other debts is not immediately intuitive, but it can actually be a useful tool to free you from bad debts.

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Debit or Credit? How Using a Debit Card Can Be a Convenient Alternative to Cash

April 9, 2019

When purchasing goods in-store or online, using a debit card is a convenient alternative to cash, checks or credit card. However, people often get confused about the difference between debit and credit when paying with their debit cards.

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How Credit Builder Loans Can Help Improve Your Credit Score

March 21, 2019

A credit builder loan is exactly what the name implies: a loan designed to help establish a better credit score. By properly managing and paying off the credit builder loan, your credit score will improve and allow you to get better interest rates and terms on many other types of financial products.

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Junior Achievement: Inspiring Young People to Take Control of Their Economic Success

February 28, 2019

For its seventh consecutive year, LUSO Federal Credit Union is year participating in the Junior Achievement Program in Western Massachusetts and increasing our efforts to support the future of youth.

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Paying for Pets: Here’s How Much Your Furry Friend Costs You

February 21, 2019

If we learned anything from this week’s “National Love Your Pet Day,” it’s that our members really love their pets. Animals provide us with entertainment, love, emotional support and, in some cases, protection. Is it really any wonder that so many of us refer to our pets as being members of our families?

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The Difference Between CDs and Share Certificates….and Why it Matters to You

November 30, 2018

A Share Certificate is a product offered by member-owned, non-profit Credit Unions - like LUSO. Profits made by Credit Unions are returned to the members in the form of reduced fees, higher savings rates, and lower loan rates.

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Digital Wallets Now Available at LUSO

August 15, 2018

In the last 10 to 15 years, mobile devices have replaced a lot of (bulky) products we used to use daily: phone, calculator, camera, video games, etc. Today, it’s taking aim at your wallet. With digital wallet apps like Apple Pay, Samsung Pay and Google Pay, it’s now possible to make electronic transactions without presenting a physical credit or debit card. 

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What the heck is a HELOC?

May 30, 2018

Did you know that your home could be a source of funds when you need major home repairs or upgrades? Your home’s current market value minus what you still owe on your mortgage is what’s known as your equity. If you’re lucky and that figure is positive, you can tap into it with a Home Equity Line of Credit (HELOC) from LUSO Federal Credit Union.

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What to expect if your debit card is ‘compromised’

May 2, 2018

Have you been notified of a “compromised card” recently? Compromised cards are on the rise, which means it’s more important now than ever to safeguard your card and personal information.

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4 Ways to Use Your Tax Refund to Your Benefit

March 21, 2018

 It’s that wonderful time of year (for some) when the tax returns are filed and tax refunds are issued. While not everyone receives money back, a moderate percentage of the American workforce does. According to the IRS, 111 million tax refunds were issued in 2016, each averaging $3,053. That’s a sizable chunk of change to have handed back to you. It begs the question: Should you spend it, save it, or invest it?

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EQUIFAX DATA BREACH - What this Means to LFCU Members

October 10, 2017

Over 140 million American consumers were affected when sensitive personal information was exposed in a data breach at Equifax, one of the nation’s three major credit reporting agencies.

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Equifax Data Breach

September 28, 2017

Nearly half of all Americans are affected by the Equifax Data Breach.

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How Millennials Can Buy Their Dream Car

July 29, 2017

The methods, criteria, and circumstances of shopping for, and purchasing, a new car have drastically changed over the last 20 or so years. In the past, purchasing a new car at a young age wasn’t an anomaly, it was the norm.

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What Are the Main Deposit Accounts and Which One Should You Choose?

July 26, 2017

There are three core deposit accounts that can help you manage and save money for your financial goals. Depending on what those goals are, one of these accounts may be exactly what you need so you can invest in the future. If you are not using the right kind of account, you can either be paying fees or missing out on the opportunity to invest and earn more money while your cash sits in an account.

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Smart Start Product Lines by LUSO Federal Credit Union

July 21, 2017

If you are a proud parent or grandparent of a recent graduate, there are many ways you can help them start their financial future on the right foot. Smart Start product lines are one of the banking services provided by LUSO Federal Credit Union that can help students manage their money and make wise choices.

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Is a Home Equity Loan the Right Choice for You?

July 19, 2017

Do you need to pay for a major expense like your child’s college tuition or a brand-new kitchen renovation? If so, you may have to look no further than to your home for funding. Depending on how much equity you have in your home, you can borrow against it at a low interest rate, and the interest payments you make on the loan are generally tax-deductible.

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Should You Keep Your Adjustable-Rate Mortgage?

July 14, 2017

A lot of people are understandably a little wary when it comes to discussing mortgage rates and different types of mortgages because they don’t always fully comprehend their options. You might wonder what type of mortgage best suits your situation.

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How to Deal with Debt During a Divorce

July 12, 2017

Dealing with debt during a divorce can be frustrating, overwhelming, and it can make saving money seem impossible. Your financial institution may or may not have the tools and tips necessary to help you manage your debt, so that’s where credit unions come in. Here are some ways credit unions can help you get rid of debt and start saving money again.

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How to Find the Right Checking Account

July 5, 2017

Checking accounts are a necessary and wise way to store and manage your readily available money. Unless you want your wallet stuffed with cash, checking accounts allow you to not only store your money in a safe place, but also to manage and keep track of your money saving efforts.

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