SALT LAKE CITY (7/6/09)--Credit Unions for Kids has issued an impact report showing credit unions' contributions over the years to Children's Miracle Network hospitals.
Credit Unions for Kids ranks third behind Wal-Mart and Costco for corporate giving at Children's Miracle Network. The credit unions raised a record $9.3 million in 2008--a 17% increase over 2007, according to Joe Dearborn, Children's Miracle Network senior director.
More than 170 Children's Miracle Network hospitals benefit from Credit Unions for Kids' contributions, which have increased annually. In 1996, the organization raised $1.5 million. This amount was more than tripled in 2000 with donations of $4.9 million. In 2005, Credit Unions for Kids raised $6.3 million, bringing the total amount of money raised from 1996 to 2008 to about $73 million.
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Courtesy of cuna.org
Monday, July 6, 2009
Protect investments from a Ponzi scheme
NEW YORK (7/6/09)--Don't let your guard down. Even though Bernard Madoff received a 150-year sentence for a massive Ponzi scheme that bilked investors out of billions of dollars, other investment fraudsters are on the prowl. Look for warning signs to avoid being caught in a similar scheme (CNNMoney June 29).
In a Ponzi scheme, the operator, acting as a financial planner, promises investors steep returns--generally higher than those available through other investments. Instead of investing the funds, the operator uses money from those entering the scheme later to pay purported dividends to the earlier investors. Once the operator can no longer pay out to all investors, the scheme falls apart and victims are left stripped of their investments (FBI.gov).
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Courtesy of cuna.org
In a Ponzi scheme, the operator, acting as a financial planner, promises investors steep returns--generally higher than those available through other investments. Instead of investing the funds, the operator uses money from those entering the scheme later to pay purported dividends to the earlier investors. Once the operator can no longer pay out to all investors, the scheme falls apart and victims are left stripped of their investments (FBI.gov).
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Courtesy of cuna.org
Homeowner tips: Control pests, clutter, energy costs
WASHINGTON (7/2/09)--This Sunday's H&FF Radio show is all about home improvement--from hiring pest control professionals and home improvement contractors, to getting a home inspection and slashing home energy consumption.
Home & Family Finance airs Sundays at 3 p.m. EDT on the Radio America Network. The show also is carried on American Forces Radio Network. The one-hour program devoted to consumer finance issues is brought to you by America's credit unions and their 90 million members, and is presented by CO-OP Network.
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Courtesy of cuna.org
Home & Family Finance airs Sundays at 3 p.m. EDT on the Radio America Network. The show also is carried on American Forces Radio Network. The one-hour program devoted to consumer finance issues is brought to you by America's credit unions and their 90 million members, and is presented by CO-OP Network.
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Courtesy of cuna.org
New student-loan refinancing program begins today
NEW YORK (7/1/09)--There's good news on the student loan front, but the new income-based repayment option isn't the be-all-end-all for all college graduates (CNNMoney.com June 24).
To qualify for the Income-Based Repayment Program (IBRP), you must have a Stafford, Graduate PLUS, or consolidation loan with either the Direct Loan or Federal Family Education Loan (FFEL) programs. Students who carry private student loans or loans taken out by parents to help fund their child's education through the FFEL or Direct Loan parent PLUS Loan programs don't qualify. Also, your total debt must exceed 1.5 times gross income.
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Courtesy of cuna.org
To qualify for the Income-Based Repayment Program (IBRP), you must have a Stafford, Graduate PLUS, or consolidation loan with either the Direct Loan or Federal Family Education Loan (FFEL) programs. Students who carry private student loans or loans taken out by parents to help fund their child's education through the FFEL or Direct Loan parent PLUS Loan programs don't qualify. Also, your total debt must exceed 1.5 times gross income.
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Courtesy of cuna.org
Wednesday, July 1, 2009
Scammers find lucrative business from funerals, foreclosures
NEW YORK (6/29/09)--While you're pinching pennies during the recession, scammers keep finding innovative ways to pick your pocket.
The foreclosure mess is turning into a lucrative business for crooks who promise to "help people" avoid foreclosure--for a price (nytimes.com June 21). While there are many legitimate nonprofit agencies providing free, confidential help to borrowers, con artists convince desperate homeowners who are behind on their payments to fork over $1,500, $3,000, or even up to $8,000 in fees for services that typically are free...
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Courtesy of cuna.org
The foreclosure mess is turning into a lucrative business for crooks who promise to "help people" avoid foreclosure--for a price (nytimes.com June 21). While there are many legitimate nonprofit agencies providing free, confidential help to borrowers, con artists convince desperate homeowners who are behind on their payments to fork over $1,500, $3,000, or even up to $8,000 in fees for services that typically are free...
Click the title to finish the story.
Courtesy of cuna.org
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