Posted by LorMet Webteam on Wed, Jan 25, 2012 @ 06:06 AM
LorMet is the ONLY Credit Union in Ohio to Offer No Equity FHA Home Improvement Loans
Do you often look at your home and make a mental list of all of the home improvement projects you would like to do to make it a better place to live? Why not make this the year that you invest in improving your home? LorMet is the only credit union in Ohio to offer No Equity FHA Home Improvement Loans. So if you live, work, worship or attend school in Lorain County, you have an advantage over other credit union members in the state.
Don't Wait Until the Spring to Get Started on Home Improvement Projects
Once you get a No Equity Home Improvement Loan from LorMet, you can start on that big project or plan to tackle various smaller projects.
And you don’t have to wait until spring to get started. There are a number of indoor home improvement projects you can take on while the temperatures are low. When it gets warmer, you can then move on to the projects on the outside of your home.
Here are some projects to consider:
- Changing your windows from single-pane to double-pane glass
- Building a hidden safe for valuables in a wall or floor
- Adding handrails to staircases for safety
- Repairing the roof
- Building an addition to the house
- Enclosing a seldom-used porch to make another room
- Finishing or remodeling your basement
- Replacing your furnace with a new, high efficiency model
Posted by LorMet Webteam on Mon, Jan 23, 2012 @ 06:04 AM
Have you been putting money in your savings account so that you can buy a car this year? If so, you can turn to LorMet for help with financing to make this goal a reality. Those of you who want to buy new vehicles can get an auto loan* with 125% financing at a rate as low as 3.49% APR**. For a used vehicle, LorMet will loan up to the retail value of the vehicle (as rated by NADA) at a rate as low as 3.99% APR**.
LorMet can also help as you research what kind of car to buy. When you click on the Chrome Standard icon on our home page, you can visit the Chrome Carbook to learn about new car models and pre-owned vehicles. You can also look up information about your current car to see what kind of trade-in value it has.
The Chrome Carbook is a comprehensive source of information—not only does it give you the stats you need, it also helps you compare and contrast this information. You can compare the features of up to five vehicles and also see the advantages of one car over another. This is great if you can't figure out the differences between certain vehicles. The site provides information such as which car has better fuel economy in the city and on the highway, which has more legroom and passenger space and which comes with a navigation system. Being able to examine these finer details can be of great help as you make your decision. And once you have decided, you can take advantage of "On-Site" Auto Financing, which puts LorMet Community Federal Credit Union inside Lorain County's most respected auto dealerships.
If you want to know more about our auto loans or about On-Site Auto Financing, contact us and we’ll be happy to answer any questions you may have.
*All rates & terms based upon evaluation of applicant’s credit history, so your rate and maximum term may differ. Not all applicants will qualify for the lowest APR or maximum term on automobile loans. Vehicles currently financed with LorMet are excluded from this offering. Trans Union FICO Auto Enhance Score of 740 or above is required for LorMet’s lowest possible rate on automobile loans.
**APR = Annual Percentage Rate. Rates stated effective as of January 12, 2012. Prime Rate as of January 12, 2012 is 3.25%. Rates and terms are subject to change without notice – information provided does not constitute a loan commitment. Call LorMet Community Federal Credit Union at 440-960-LOAN (5626) for more information.
Posted by LorMet Webteam on Fri, Jan 20, 2012 @ 03:17 PM
Whether you make resolutions or not, it is natural to look at changes you can make in your life when a new year starts. You may consider trying to earn more money or look at ways that you can make better use of the resources that you already have. Doing your banking with an institution that charges fewer fees is just one of the ways to keep more money in your pocket. LorMet is here to help you with money-saving services such as free checking accounts and surcharge-free ATMs. Plus, there are no balance transfer fees when you switch to a LorMet Visa Credit Card.
You can also find that making small changes to your spending habits can really add up this new year. Examining your spending habits such as stopping a shopping for fun habit or curtailing some types of recreational activities can help you to have more money for the things you really need. An eHow.com article on "How to Live Thrifty" pointed out how consumers can change spending habits through tracking and awareness of where they are spending their money right now.
For example, if you look around your home, do you see that small appliances and electronic devices are plugged in, even when you aren’t using them? If this is the case, you can trim your utility bills by unplugging devices when they are not being used. eHow observes that "Leaving electronics on can use a tremendous amount of extra energy, costing you money…your cell phone charger is still using a residual amount of electricity when it is plugged into the wall."
You may also be able to trim your grocery bill by looking for discounts. If you read the newspaper, you can cut out coupons rather than letting those opportunities to save money go to waste. If you shop on the Internet, make sure to search for web coupon codes before you buy.
It may take a little bit of effort to change your current habits, but even small changes in your behavior can add up to a nice cash savings in a short period of time.
Posted by LorMet Webteam on Thu, Jan 12, 2012 @ 06:04 AM
Perhaps being more prepared and organized is one of your goals for the New Year. Although LorMet Community Federal Credit Union can’t help with things like organizing drawers or cleaning out the garage, we can help make sure you have cash when you need it. But, we do even more than make getting cash easy, we help you save money even if you have to get cash at the last minute.
With our no-fee ATM network of over 32,000 surcharge-free ATMs you have options. While we do offer convenient LorMet MasterCard Debit Cards, we know that there are times when you just need cash in your pocket. We want to make it as easy as possible for you to withdraw cash from your LorMet accounts, while still saving on transaction fees.
With a traditional bank, you’ll usually have to go to that particular bank’s ATM to avoid an ATM fee surcharge. With LorMet, you have more options. In addition to getting cash at any of our branch locations, you can use our surcharge-free Allpoint ATMs that can be found where you live, work and shop. Allpoint ATMs can be found all over the nation, so fee-free ATM service is convenient whether you are near home or traveling.
Posted by LorMet Webteam on Tue, Jan 10, 2012 @ 06:04 AM
A finance column published in USA Today observed, "If you're carrying around a credit card balance with a high interest rate, getting rid of debt is even more difficult than shedding those extra pounds you packed on over the holidays. One way to free yourself from a high interest rate is to take advantage of a balance transfer offer."
Transfer Debt to a LorMet Visa Credit Card
As one year ends and another begins, many of us resolve that we will leave certain things behind in the old year and concentrate on making a fresh start in the year to come. However, unless you pay it all down before the clock strikes midnight on the last day of the year, you will carry credit card debt into the new year. The good news is that you can make things a little bit easier when you transfer your balance to a LorMet Visa Credit Card. The LorMet Visa Credit Card has no balance transfer fees and offers a low variable rate.
Once you have made the switch to a LorMet Visa Credit Card, you may be surprised to find that you are getting even more for your money. The card has no annual fee and no fees for cash advances. You also have the option of getting travel accident insurance and auto rental insurance, should you need those things. Plus, you get the satisfaction of knowing that you are connected to a local financial institution that helps to keep the area economy strong.
Another advantage of transferring your balance to a LorMet Visa Credit Card is that you are not limited to discussing your account via phone or e-mail to someone in a distant call center. If you have questions about your credit card or about the other services we offer, you can always stop by one of our branch locations to talk to someone about these matters in person.
Posted by LorMet Webteam on Mon, Jan 09, 2012 @ 10:24 AM
Set Financial Goals for 2012 Now!
January and February is a time a year when some people feel like they want to turn over a new leaf and start fresh. Some people also feel some remorse because they overspent during the holiday season. It is a time when people set financial goals that they hope will help them feel much better about their finances by the end of the year.
One of the best ways to increase your savings or pay down debt is to keep living at your previous salary if you get a raise. Rather than think about how you can "upgrade" your lifestyle, make the effort to put away that additional money. You can put it into a regular savings account, an IRA or even use it to save for a vacation. The same goes for an end-of-year bonus. It is not easy to be so disciplined, but it is worth the effort.
Some people were not fortunate enough to get a bonus or a raise last year. However, there is one influx of money that many people get each year and spend before they give themselves a moment to think about it. What is that source of extra money? Tax refunds.
As soon as January hits and people start getting W-2s in the mail, many have their tax refunds on their minds, even if they do not file their taxes until April.
If you make up your mind early on that you are not going to just spend your tax refund without careful thought, this will help when the time comes to receive it. There is nothing wrong with spending some of your refund on something you enjoy, but you do not have to spend all of it. You can start an emergency fund with a share certificate or savings account.
The satisfaction and peace of mind that comes from knowing you have funds put aside for an emergency may be just the motivation needed to start a new discipline of regular saving each payday. Even small regular amounts can be the start of a lifelong practice.
What are your financial goals in 2012?
Posted by LorMet Webteam on Fri, Dec 30, 2011 @ 06:04 AM
Do you worry so much about money that is it starting to take a toll on your health? An article from Daily Finance points out that, "money woes don't just make it harder to pay for prescriptions and doctors' visits -- they can also make you more susceptible to a host of health problems."
Daily Finance spoke with Travis Stork from the TV show "The Doctors" to get ideas for how you can keep stress over money from making you sick. Avoiding the doctor, not filling prescriptions and eating unhealthy fast food can save you money in the moment, but may bring unhappy consequences down road. Stork spoke of seeing people come in for treatment after years of neglecting their health: "Taking care of yourself can pay dividends many time over. You save money from not having a heart attack or a stroke. For that matter, there's a definite value in having a better quality of life."
While it takes lifestyle changes to reduce the presence of certain stressors, there are things you can do to relieve stress when your budget is tight. You do not have to join a gym or pay for an expensive vacation, there are simple things you can do at home. Some suggestions are:
- Go for a walk
- Take a moment to pause and breathe deeply
- Watch a video that makes you laugh
- Get a pet (if you can afford it)
- Make sure you get enough sleep
- Find a way to help someone else.
Posted by LorMet Webteam on Wed, Dec 28, 2011 @ 06:02 AM
For some people the word "
budget" seems like a bad word, as if it is something unpleasant, when really a budget can help you maintain a good credit score, reduce debt and put more money into your
savings account. Budgets may not seem like fun, but when you make sure expenses are met and money is put aside to reach financial goals, you will feel a lot freer and enjoy life more.
What you're spending now
1. Keep track of all the money you spend for a month. You may already have a good idea of what your monthly bills are, but do you really know how much you spend each month? If not, it is time to record this information so you know exactly where your money goes.
2. Make a list of your expenses. This should include things you can't live without (like food) and things that you enjoy but don't need (like movies).
3. Figure out how much you earn each month. You may have to look at your paystub to find your net (after tax) take home pay.
4. Look at the list of bills you tracked for a month and the list of your personal expenses to come up with a figure for your total monthly expenses. Subtract the expenses from the earnings.
5. Consider your expenses for the coming month and write down any extra expenses such as birthday gifts and also subtract those from the figure you had after completing the 4th step.
6. Examine your budget so far to see the areas where you can spend less. This does not mean you have to cut out everything fun and entertaining--think about trying to find cheaper cell phone plan or ways to be more energy-efficient so you can lower utility bills.
7. Make changes to your budget to reflect the cuts your making and be honest with yourself about your expenses and your lifestyle.
Armed with your new budget you can determine how much you can realistically save for your personal financial goals.
Posted by LorMet Webteam on Tue, Dec 27, 2011 @ 06:04 AM
If you think you want to end the year driving off in a new (or new-to-you) vehicle, you can find some great bargains before the new year starts. We're sure you will find that the combination of bargains at dealerships and the low rates on auto loans offered by LorMet, could really work in your favor.
Many dealerships are lowering prices on their remaining stock of 2011 models to make way for the 2012s. We can’t promise that dealerships will have special year-end offers if you wait until the new year to buy a vehicle, but we can say we are here for you all year round with low rates on vehicle loans so that you can get the car, truck, motorcycle or boat that you desire. And we also make it possible for you to get "On-Site" Auto Financing. This puts LorMet Community Federal Credit Union inside Lorain County's most respected auto dealerships. Shop for a car and instantly apply for LorMet Community Federal Credit Union financing.
Posted by LorMet Webteam on Fri, Dec 23, 2011 @ 06:02 AM
Holiday stress? What stress?! Get them all Gift Cards from LorMet
We at LorMet certainly want to help you keep yourself from overspending so that you can stay on budget this holiday season …and we also want to keep you from stressing over what to get certain people on your gift list. So, we want to remind you that a LorMet Visa Gift Card is one of the most stress-free gifts that you can give.
And if you also have friends or relatives with birthdays or other special occasions that immediately follow the holiday season, they might appreciate a gift card as well. You will be happy that you get a break from more shopping because once the main gift-giving holidays are over, you may find that even if you used our Timely Holiday Shopping Tips, you are still tired. And after doing a lot of shopping and possibly going back to stores to return holiday gifts, the recipient might be happy to get a gift card that they can spend right away on whatever they want.
It only takes $2 to purchase a LorMet Visa Gift Card and you can load the card with any dollar amount between $10 and $1,000.
A LorMet Visa Gift Card can be used anywhere that Visa credit cards are accepted. When you give a LorMet Visa Gift Card, remind the recipient that they can also register the card online to get account and balance information.