LoginTeach kids good money habits with the 'Save, Spend, Share' plan
August 10, 2023
Teaching your kids how to save and budget their money at an early age helps them reinforce the good money habits that will set them up for long-term financial health and wellness. If you’re unsure where to start, LUSO recommends the Save, Spend, Share plan, which helps kids understand the fundamentals.
LUSO opens 'Little Free Library' in Ludlow, Wilbraham
July 25, 2023
LUSO is pleased to announce our first registered Little Free Library in Ludlow, located at 599 East Street. LUSO’s second Little Free Library is now available at the Wilbraham branch in Crane Park.
How to Protect Your Electronic Assets: Cybersecurity and Banking
March 9, 2023
LUSO Federal Credit Union, as part of our expertise in helping banks track, catch, and report fraud and protect members, offers the following cybersecurity tips for anyone concerned about the safety of their electronic data or their financial vulnerability.
Top Tips for Saving for the Holidays
November 14, 2022
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.
Happy International Credit Union Day
October 20, 2022
Each year, on the third Thursday of October, LUSO Federal Credit Union joins credit unions from around the globe to celebrate International Credit Union Day.
October is Cybersecurity Awareness Month
October 3, 2022
Since 2004, the President of the United States and Congress have declared October Cybersecurity Awareness Month, helping citizens protect themselves online as our technology, and threats to that technology, become more sophisticated and interwoven in our daily lives.
Use your LUSO Debit or Credit Card for monthly subscriptions
August 4, 2022
Unlike traditional bills where the consumer is sent an invoice and expected to pay, a subscription service automatically takes recurring payments from a credit or debit card on file. It’s usually easy to set up online or in-app using your card number.
Why Should You Invest in a Home Renovation?
July 14, 2022
There are many benefits of a home renovation and it can be an exciting venture. Home renovations give homeowners the opportunity to express their individual tastes and style throughout their home. With a plan in mind, an end goal, and an understanding of these benefits, anyone can achieve the home renovation of their dreams.
Tips on How to Start an Emergency Fund
June 22, 2022
Emergency funds are extremely important whether you are an individual or own a business. Managing your savings, however, is not always easy, especially when you are trying to pay down debt or have high bills each month. Here are several strategies to starting an emergency fund and budgeting your income so you can make the most out of your money.
Smart Ways to Spring Clean Your Finances
April 8, 2022
As the weather gets brighter and the days get longer, you can get a head start on your organization by going through your financial papers, discarding the old, making way for the new, and reanalyzing your spending and saving habits. Here are some smart ways you can spring clean your finances.
How to Get Financially Fit in 2022
December 27, 2021
Just like getting your body into shape, becoming financially fit works best when you have a clear strategy and a clear goal. Minimizing your debt, developing a budget, managing credit cards, and having healthy savings are all excellent goals; however, without a clear path and a definable endpoint, you are more likely to find yourself floundering along the way.
Shop Smart This Black Friday/Cyber Monday
November 22, 2021
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.
Board Chair Receives Statewide Recognition
June 14, 2021
Longtime LUSO board chair, Maria F. Gomes, CPA, has been selected by the Massachusetts Commission on the Status of Women (MCSW) as one of the Commonwealth Heroines of 2021.
Your Credit Score at Your Fingertips
April 16, 2021
Rebuilding or establishing credit can help consumers save money over time, which is why LUSO Federal Credit Union recently launched Credit Sense, a financial education tool powered by SavvvyMoney®, that allows members to take control of their finances.
April is Financial Literacy Month
March 31, 2021
For the last 50 years, LUSO Federal Credit Union has advocated for the financial health and wellness of our members. To mark April’s designation as “National Financial Literacy Month,” we are highlighting the importance of financial literacy and teaching members of all ages how to establish and maintain healthy financial habits.
This New Year, Resolve to Get Your Finances in Order
December 29, 2020
It’s no secret that 2020 didn’t go as planned for many of us, but the New Year is a time to start fresh and look forward. There’s no better time to make changes in your life, especially if you’re looking to get your finances on track. If this seems like a daunting task, fret not! LUSO Federal Credit Union can help you along the way!
Shopping Smart During a Pandemic
November 5, 2020
Holiday shopping will look a little different this year as retailers large and small try to prevent the spread of the Coronavirus. Whether you plan to shop in the big box stores, at a local small business, or online, there are ways to beat the madness, shop safely, and save money!
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.
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!
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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?
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.
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.
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.
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.
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.
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?
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.
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.
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.
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.
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?
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.
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.
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.
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.
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.
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.
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.
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.